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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 1, 1974, Lethbridge, Alberta Thurcday, August LETHBRIDGE The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN OILS AND MINES Afton Mines 4.75 Albany Oil .36 Alta Eastern Gas 4.80 Alminex 5.50 Asamera 8.00 Ashland Oil 7.25 B.P. Canada 13.62'-i Brenda Mines 5.25 Cda Southern 2.96 Cdn Export Gas 2.75 Cdn Homestead 3.85 Cdn Ind Gas Cdn Long Island .17 Cdn Superior 41.25 Chieftan Dev 6.25 Dome Pete 27.00 Dynasty 9.00 Fort Reliance .15Vi Giant Mascot .81 Gibraltar Mines Granisle Great Plains 39.75 Gt Cdn Oil Sds Lochiel Exp 1.60 Lytton Minerals 1.45 Noble Mines .47 North Cdn Oil 3.25 Numac Oil 12.75 PanCdn Pete Pan Ocean 11.37Vz Petrol 1.40 Pinnacle .33 Place Gas .31 Ponder .50 Ranger Oil 20.75 Scurry Rainbow 18.75 Seibens 10.25 Spooner .28 Total Pete Ulster Pete .90 United Canso WC Pete 3.40 Western Decaita MISCELLANEOUS INDUSTRIES Acres Ltd 6 Aquitame 23.75 B.C Sugar C Pfd 12.50 Block Brothers 2.90 Canbra Foods Cdn Pac A Pfd 29.25 Carhng A Pfd 18.25 Carl.ng B Pfd 20.50 Com Cap Corp 1.75 Crestbrook For Ind 5.62'.? Crowsnest Indus 27.00 Falconbndge Cop 11.00 F M Trust Co 4.25 Genstar 1775 Home Oil A 36.50 Home Oil 8 35.00 Hudson Bay Co 16.50 Hudson Bay Oil 27.00 Hugh Rus C Pfd 74 75 Husky Oil 16 7b Husky Oil B Pfd 32 00 Husky Oil E War 6.50 Inter Pioe War 2.90 Inter Steel 16.00 Kaiser Resources 4.05 Kaiser Res War 1.80 Loblaw C Pfd 24.75 1.90 Pacific Pete 19.00 Pe-Ben Oilfield Serv 4.75 Ramer Inc 2.75 Royal Trust 20.25 Sandweil Teledyne Trimac Westfield Minerals Weston A Whitepass Yukon PIPELINE STOCKS Alta Gas Line A Alta Gas Line Pfd Alta Natural Gas Gaz Metro Gaz Metro A Pfd Inland Nat Gas N C Gas N C Gas B Pfd Pac Gas Trans Tr-Cda Pipe Tr-Cda Pipe A Pfd Tr-Cda Pipe B Pfd Tr-Cda Pipe War WC Trans WC Tr War CALGARY Acroll Barons Oils N. Continental Western Warner VANCOUVER MINES Bathurst Norsemines Cima Resources Dankoe Davenport Dolly Varden Equitonal Res. Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Columbia Brewing Key Industries Wardair OILS August' Petroleum Plains Pete Ponderay Explorations Stampede Int'l Res MUTUAL FUNDS All Cdn. Compound 5.17 All Cdn. Dividend 5.39 All Cdn Ventures 2.68 Amer Growth Fund 3.85 AG.F Special 1.93 Cdn. Invest Fund 4 32 Collective Mutual 4.48 Eaton Comnwlth 11.96 Eaton Leverage 2.82 Eaton Int'l Venture 5.16 Corp. Investors 5.50 Corp Invest Stock Fund 4.12 Dreyfus Fund U.S. 8.40 Great Pacific 4.11 Grouped In Shares 2.66 Growth Equity 6.05 Invest Growth Fund 1473 Investors Mutual 5.05 Mutual Accum 5.54 Nat. Resources 4.03 N.W. Cdn 4.92 N.W. Growth 3.82 Principal Growth 3.72 Provident Mutual 6.52 Royfund 4.98 Ternpleton Growth 6.93 United Accum 3.99 Universal Savings 7.10 Univest 5.52 Vanguard 4.65 5.75 4.00 4.25 .95 51.00 7.00 12.50 55.00 17.50 54.25 9.87 Vz 19.75 8.25 9.75 54.25 31.12VJ 1.01 19.25 2.30 .34 .06 .02 .31 1.48 .90 2.50 .71 '.17 .11 7.50 2 10 .00'i .09 1.85 5.90 4.85 .05 1.65 .32 ,13V; .63 .61 5.62 5.85 2.91 4.23 4.74 4.92 6.04 4.53 9.21 4.49 6.65 16.19 5.52 6.09 4.43 5.41 4.20 4.08 7.13 5.18 7.59 4.33 7.82 6.06 5.11 Toronto mines, industrials (Supplied by Richardson Securities ot Canada) Tel Advocate Forest Sugar A Valley Ind Ind O'Keefe Can NW Cellulose Canada Power Credit Central Gas Pfd Ind Marconi Cons. Vickers Coin Craigmont Dickenson 9 87 Cons Bathurst Denison Gas Seagrams Dome Bridge Discovery East Textile East Stores Falconbndge Pete Dofasco First Mobile Giant Cdn Oil Motors Hollmger Lakes Paper Hudson Bay Oil Hydra Iron Sid Walker A Joliet Erie Kerr Oil A A Nickel Lake Pipe Langis Grp A Madsen Int'l Malartic Ltd Martin McNeely Kel Douglas A Intern A Nu West New Ferg New Bloed Corp Northgate .20' A Molsons B Pine Placer Cent Pax Corp Quebec Co Rio CDA Roman Corp Sherritt 'i Simp Sears Steep Can A A Tek Corp. Grp A United Mtn Pipe Western Can Pipe WH Copper Mines Wright Hargreaves 2.60 Carbide Union Gas Union Oil Siscoe Yellowknife Mfg s 1 A Foods Algoma Atco Imperial Agra Scotia Bell Brascan Dom 51.00 11.00 13.25 18.75 16.50 12.75 8.00 2.33 6.00 5.62'j 22.75 3.20 9.00 21.25 3.05 15.25 14.25 13.25 28 12V! 14.00 31.75 25.37'-? 10.50 15 26.50 29.62'? 2.75 7.12'? 40.50 20.25 28.50 15.75 6.12V? 40.87'.'? 20.50 26.25 26.62'.'? 14.12V? 6.50 11.50 15.00 2.15 7.75 3.10 6.75 9.00 16.00 25.25 50.25 1S.75 19.12'-? 5.75 9.75 11.25 4.80 13.00 14.00 11.00 29.87'? 11.75 36.00 10.00 13.50 9.75 20.00 7.87'? 8.87V? 4.75 5.50 21.50 24.00 2.70 34.75 29.50 Winnipeg grain WINNIPEG U'l'i With the excep- tion ol barley futures, all commodities were easier in moderate volume of trade at mid-session ul the Winnipeg Commodity Kxchange today. Barley was tirm to three cents higher while rapeseed, oats, llax and rye dropped slightly. Feed wheat wab dull and unchanged. Volume ol trade Wednesday was 1.518.000 bushels of flax. 712.000 of oats. 5.5U7.000 ol rapeseed. 318.000 of feed wheat. 1.795.000 ol rye and 2.514.- 000 of barley. Mid-session prices. Thunder Bay rapeseed Oct four lower 8.45A. Nov two lower 8.42B. Dec six higher 8 13A. May 8.23B. Vancouver rapeseed. Sept. '2 lower 892'zA. Nov. 4'i lower 8.72'zA: Jan. 2Ji lower 8.63'iA. March 3'i lower 8.50A Flax Get seven lower 11 59A: Nov. lour lower 11 49A; Dec two lower 11.29A. May 11.29A. Feed wheat Oct unchanged 4.22A: Dec unchanged 4.27A. May unchanged 4 27A Barley. Oct. 2'j higher 325. Dec three higher 322B. May unchanged 3 24B. Oats- Oct. one lower 1.99A. Dec. 2Ji lower 1 May unchanged 2 02A. Kye Oct. 4Ji lower 3.02'' iA. Dec. 5'2 lower 2.99'a: May 634 lower Grain quotes Wednesday basis Lakehead: High Low Close Rapeseed Thunder Bay Jly 895 Oct 849 815 849 Nov 844 817 844 Dec 407 Rapeseed Vancouver Sept 893 855 893 Nov 8763'j 87634 Jan 868 828 866 Mar 853'a 813 V2 853 "z Flax Jly 1181 Oct 1166 Nov H53 Dec H31 Feed Wheat Oct 422 Dec May 427 Barley Oct 322'z 302'z 322's Dec 319 312 319 May 324 Oats Oct 200 198 200 Dec 202 May 202 Rye Jly" 302 300 302 Oct 319'2 300 307 Dec 317 296" 2 305 May 308's Livestock Lethbridge (Supplied by Canada Department of Agriculture i Wednesday's sales 2U cattle and calves. Two hundred twenty five hogs. One hundred fifty lambs. Receipts mostly slaughter cattle. Tra-fr moderately active. Slaughter steers over 1000 ibs. steady to strong. Steers under 1000 Ibs. are being discounted to cwt. Slaughter heifers over 800 Ibs steady to 51c or more higher. Heifers under 800 Ibs. discounted to cwt. All classes .of cows or more lower Bulls about steady. The few replacement cattle on offer selling at steady rates Steers- A] and 2 over 1000 Ibs. 50 to 52.40. Al and 2 under 1000 Ibs 46 to 48. Heifers: Al and 2 over 800 Ibs. 42'z to 43.80 Cows: Dl and 2 24'2 to 25 70. D3 22 to D4 19 to 21'z Good heavy feeder steers over 750 Ibs. 44 to 46." Good feeder heifers 33 to 35 Butcher hogs sold Wednesday at the Lethbridge Yards 44.65 base price. Good lambs 43 to 45. New York (Supplied by Richardson Securities of Canada) Amr T T Anaconda Beth Steel Chrysler Comsat Dupont General Motors Gulf Int Harvester Kenn Copper Montgomery Ward Texas Gulf Texas Co Wix Corporation Woolworth 4225 Westinghouse Elec 2375 U.S. Steel 29 75 Gen Tel Elec 20.00 TORONTO AVERAGES 20 Industrials 183.74 down 1.14 150J5 20 Golds 534.28 up 6.17 41 37V? 10 Base Metals 82.88 up .45 15 Western Oils 181.46 down 1.63 22 12Vi Volume NEW YORK AVERAGES 23.50 20 Industrials 759.85 up 2.42 28.12V? 20 Rails 158.77 up .81 25.25 15 Utilities 68.18 down .22 1LOO 65 Stocks 231.91 up .65 Volume 4.970.000 Calgary CALGARY (CPl Receipts to 11 a m Thursday Irom the Calgary public stockyards totalled about 800 head, mostly slaughter cattle. Trade was moderately active on steers and hoifers. dull on cows Slaughter steers sold about lower with the majority of steers on offer weighing under 1.000 pounds. Heifers were lower Beel quality premium included in steer and heifer prices. Cows met a narrow demand at prices about lower Bulls were tairly siead> Steers Al-2 5050-53. A3 4H-49. Heifers Al-2 42-44. Cows Dl-2 22-24.20. D3 20-22. D4 15- 20 Good bulls 27-30. Insufficient replacement cattle sold to establish a market The markets will be closed to trading Monday. Aug 5. However, usual facilities for the handling ol livestock will be provided. Hog prices EDMONTON (CP) Prices to 11 a.m. Thursday provided by the Alberta Hog Producers Marketing Board. Wednesday prices in brackets Edmonton 44.50 Calgary: 44.50 (44.57) Red Deer: 44.55 Grande prairie: Nil Lethbridge: 4470 Hogs sold to 11 a.m. 2.246, hogs sold Wednesday 6.391. average 44.52. Sows average 24 15. Metals LONDON (AP) Wednesday's closing metals bid-ask in pounds sterling a metric ton: silver in pence a troy- ounce: Copper Spot 815-817; futures 836- 837 i in Spot 3.735-3.745: futures 3.710- 3.720 Lead Spot 232.5-233.5, futures 229- 2295 Zinc Spot 462-463: futures 468-469 Silver Spot 202.5-204.5; 3 months 210.5-211 Gold futures WINNIPEG (CP) Gold futures, U.S. Funds. Winnipeg Commodity Exchange close Wednesday. 400-OUNCE CONTRACTS: Jly 74 158.00B: Oct 74 163.75: Jan 75 169.50; Apr 75 174.60B; Jly 75 180.40B. Tuesday's volume: 306 contracts. Beef futures WINNIPEG (CP) Live beef futures close Wednesday. Sept. 49 SOB; Nov. 50.24B; Jan. 50 10B. Tuesday's volume: No contracts. Near A Normal I Temperature Nurmjl Ton Vancouver Edmonton Regina Winnipeg Toronto Ottawa Montreal Halifax St. John's sg Large U.S. battery maker acquired by Canadian firm Vancouver Edmonton Regma Winnipeg Toronto Ottawa Montreal Halifax St. John's Wet and cooler Near-normal temperature readings are expected for the Maritimes, and the Prairies, with Quebec, On- tario and portions of British Columbia expected to receive below-normal readings for the first two weeks of August according to the long-range forecast of the United States Weather Bureau. Precipitation is expect- ed to be above-normal for most of the country. This is not a specific forecast and changes may occur. Industrial stocks decline sharply TORONTO (CP) The To- ronto stock market's in- dustrial index was sharply lower in light mid-morning trading today. Industrials fell 1.17 to 183.71 and western oils 1.67 to 181.42. Golds rose 9.19 to 537.30 and base metals .33 to 82.76. Volume by 11 a.m. was 304.- 000 shares compared with 359.000 shares at the same time Wednesday. Declines outnumbered ad- vances 112 to 64 with 146 issues unchanged. Home Oil A lost 1 to Steinberg's A to Royal Bank to Bow Valley to and Domi- nion Textile to Mclntyre was down to Mindamar r-ents to and Anglo United six cents to 95 cents. Canada Northwest fell 25 cents to United Canso V4 to and Canadian Superior 'M to Anglo-Canadian Pulp gained :'K to i. Okanagan Helicop- ters to Pamour to Camflo to and Nu- mac to Market trends MONTREAL iCTi Prices were ponoralK lower in light trading on the Montreal Slock Kxchange today Volume at 11 a.n) shares compared 175.700 shares at the same time Wednesday The hanks index tell 2 82 to 233.49. papers 1 4H to 119 K4. the composite .58 to utilities to 126.22 and in- dustrials 33 to 19875 Bank ol Nova Scotia tell to -'i. ''s to IU Inter- national to Sll and Canadian Chicago markets CHICAGO (API A bornb scare dis- rupted the Board of Trade for an hour Wednesday but eager traders returned to push most contracts to limit ad- vances. Officials evacuated about 700 per- sons from the trading floor. Police searched the area for the bomb and allowed traders to return at p m. CDT The session's opening previously was delayed 30 minutes because of Tuesday's heavy trading. The Chicago Mercantile Exchange also received a bomb threat but the session continued without interruption, officials said. On the Board of Trade, strong de- mand buoyed the market to limit gains in soybeans, corn, soybean oil and rneal. Wheat and oats also benefited and closed substantially higher. On the Mercantile Exchange, livestock and pork belly futures ad- vanced strongly. New York and Chicago silver futures closed higher, but gold and copper prices fell. Cotton and sugar futures closed mixed, while cocoa and frozen concentrate orange juice advanced moderately At the close, soybeans were 30 cents higher. August 8.95; Chicago wheat 3 to 20 higher. September 4 73: Gulf wheat not traded, corn 10 higher, September. 3 79'2; oats 3'2 to 4 higher. September 1.92'2. Grain quotes Wednesday. Wheat Sep 4 73. Dec 4.83. Mar 4.89. May 4.83. July 4 56 Corn: Sep 3.79'2. Dec 3.67. Mar 3.71. May 3.72. July 3.71'i Oats: Sep t'92'2. Dec 1.96. Mar 2.00. May 2.02. Qold prices LONDON (AP) Wednesday's closing gold prices in U.S. dollars an ounce: London 155.75 Paris 157.90 Frankfurt 157.14 Zurich 158.00 Hong Kong 150.86 Beirut 4.963 a kilo Feed prices WINNIPEG (CP) Wheat board domestic feed grain prices Wednesday 3 CW red spring wheat 4.22; No 1 feed oats 200, No. 1 feed barley 3 I'acilic Ltd lo while Emco rose 2 to Among speculative issues. North American Asbestos rose one and one- hall cents to 49 cents on a volume of 13.000 >haros traded. VANCOUVER (CPl Prices were up in heavy trading Wednesday on the Vancouver Stock Exchange. Volume at the close was 3.348.764 shares. In the industrials. Canterra was up .04 at .39 on 13.500 shares. Captain International was unchanged at .16 on shares. Reed Shaw A was unchanged at on 4.000 shares and Thermo Plex was down .10 at .55 on 3.500 shares EDP Industries was unchanged at .09 and International Hydro was unchanged at .70. In the mines. Barrier Reef was up 15 at 10 on shares. Cypress was down .09 at on 150.600 shares. Consolidated Beaumont was up .03 at 49 on 113.100 shares and AEX Minerals was unchanged at on 105.000 shares. BX Developments was up .11 at 50 and Consolidated Coast Silver was down .02 at .50. In the oils. Payette was up .12 at .58 on 72.500 shares. Cop-Ex Mining was down .02 at .35 on 52.000 shares. Seneca Developments was up .13 at .98 on 34.100 shares and Rand A was unchanged at on 30.700 shares Payette Warrants were up .08 at .16 and Alaska Kenai was unchanged at .23. NKW YORK (API The stock market was mixed today, steadying after a week of deep decline. The 1130a.m. Dow Jones average of 30 industrials was up .94 at 758.37. although losers maintained a three-to- two odge on gainers at the New York Stock Kxchange. Trading remained light. Brokers said the market was due for a pause after the slide that chopped nearly 50 points from the Dow in the live previous sessions. Most issues showed only fractional changes today. Eastman Kodak. NYSE volume loader, was down 'z at Arkansas-Louisiana Gas was up 7s at Soars. Roebuck fell Among Canadian issues. Dome Minos climbed 1'j to Massey Ferguson slipped '2 to S16'j. Hiram Walker 'i to Inco to Seagrams to Canadian Pacific lo Alcan was unchanged at TORONTO (CP) The ap- parently successful bid by In- ternational Nickel Co. of Can- ada to take over ESB Inc.. the United States' largest battery maker, is a significant first step in Inco's move to diver- sify. Company officials have de- clined to give reasons for In- co's zealousness in trying to acquire ESB, which is a manufacturing concern. Inco is the largest primary producer of nickel in the non- Communist world.. But Bell. Gouinlock. and Co. Ltd.. a Toronto investment re- search firm, in a recent in- vestment letter said the takeover is "an excellent first move a logical merger of products, skills and mutual objectives." It says ESB's main areas of growth have been toward bat- teries for the operation of con- sumer goods and there have been recent attempts to ex- pand into electric Illinois, heat-to-electric conversion systems, and small nuclear power systems. "The latter areas of growth are very much in harmony with Inco's vertical integra- tion objectives, for the batteries of the future are those based on nickel and related elements, whereas heat-to-electric conversion and the whole field of nuclear power relies on massive con- sumption of nickel." The decision Monday by ESB management to recom- mend acceptance of Inco's offer of a share for "any and all" of ESB's 5.5 million common shares ended 11 days of dramatic international bidding against United Aircraft Corp. of Hartford. Conn. On July 18 Inco offered 'Shipbuilding' industries to be nationalized LONDON (Reuter) The Labor government announced plans today to nationalize most of the British shipbuilding and ship-repair in- dustries, as well as marine engineering. Industry Secretary Tony Benn made the an- nouncement in the House of Commons, leading to a noisy row with the Conservative opposition. Benn said compensa- tion will be paid for the 13 major shipbuilding companies, 13 ship-re- pairing companies and specialist diesel-makers brought into public ownership. Small firms will not be taken over. Benn said the industry has not invested for the future, to get an increasing share of the world market or to provide secure employ- ment for workers. Conservative MP Michael Heseltine ac- cused Benn of seeking to impose a docUina! solu- tion to the shipbuilding industry's problems and said there is no evi- dence it will succeed. Detailed proposals for the takeovers will be set out in a white paper later this year and in the meantime discussions will be held with interested parties. However, an election may intervene in Oc- tober, with Labor's policies, including na- tionalization, being sub- mitted for voter approval. Benn. a controversial figure because of his left-wing views, told Parliament: 'The (shipbuilding) industry will be unable to com- pete effectively in the world market unless there are changes to allow more efficient use of resources, further investment and moder- nization. Funds for this are unlikely to be available from private sources." Despite a growing de- mand for ships. Britain only 3.6 per cent of the world's total at the end of 1973. he :-.aid. All-Canadian pipeline route proposal opposed TORONTO (CP) A natural gas pipeline through the Mackenzie River valley carrying only gas from the Canadian Arctic would be wasteful, William Wilder, chairman of Arctic Gas Study Ltd.. said Wednesday. Commenting on an an- nouncement earlier in the day by representatives of Alberta Gas Trunk Line Ltd. in Calgary. Mr. Wilder said the AGTL proposal for an all- Canadian line would not provide the best transporta- tion service for the Canadian consumer. Alberta Gas Trunk, one of 26 corporations that make up the Arctic Gas Study Ltd. con- sortium, said Wednesday it sees the idea of a Canadian- only line as a reasonable alter- native to the consortium's proposal to build a pipeline carrying both Mackenzie delta and Alaskan North Slope gas. Mr. Wilder said he is con- vinced that the joint pipeline system wtll provide the cheap- est and fastest supplies of natural gas for the domestic market. He said the Arctic Gas Study consortium thinks that an international line, running from Prudhoe Bay. Alaska, to the delta and then south through the Mackenzie valley is the best way to use the northern gas resources. t'nited entered with Inco raised it to United match- ed it. inco went lo United followed. Inco went to and offered immediate cash payment. United gave up. And so did ESB. Throughout the dizzying" race ESB management at their head- quarters in Philadelphia staunchly opposed the Inco offer, calling it "hostile" and "foreign." They went so far as to file an anti-trust suit against Inco. Inco countered with a suit to restrain ESB of- iicers from making false statements in opposing the Inco bid. The bid will mean a total price of about million for all the shares, compared to million originally offered by Inco. At the same time ESB dropped its suit in which it al- leged Inco had a "monopolis- tic" position in the U.S. nickel market and the proposed take- over would reduce competi- tion in the U.S. battery business. Inco dropped its lawsuit as well. ESB. of Philadelphia, em- ploys 17.000 and is the most di- versified and biggest company in the battery field. The firm has 100 plants in 19 countries, including eight in Canada. ESB achieved record ear- nings of million on record sales of million in the fiscal year ending March 31. Its total assets are more than million. CP Rail Appointment L. R. Smith The appointment of L. R. Smith as senior regional vice-president. Pacific Region, CP Rail with head- quarters in Vancouver is announced by Keith Campbell, senior executive officer. Mr. Smith succeeds J. N. Fraine who has retired after 46 years service with CP Rail. Mr. Smith will be responsible for CP Rail operation and maintenance as well as marketing and sales activities in British Columbia and Alberta. He brings to his new position an extensi' background in rail operations across Canada and has been vice- president of CP Rail's East- ern Region with head- quarters in Toronto since 1964. ADVT