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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 2, 1974, Lethbridge, Alberta Friday, August 2, 1974 THE LETHBRIDGE HERALD 27 The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN OILS AND MINES Afton Mines 4.75 Albany Oil 35 Alta East Gas 4.80 Alminex 5.25 Asamera 8.00 Ashland Oil 7.25 B.P. Canada 13.50 Brenda Mines 5.25 Cda Southern 2.95 Cdn Export Gas 2.75 Cdn Homestead 3.90 Cdn Ind Gas Cdn Long Island .17 Cdn Superior 41.00 Chieftan Dev 6.12Vi Dome Pete 26.00 Dynasty Fort Reliance .15 Giant Mascot .81 Gibraltar Mines 7.50 Granisle Great Plains 39.75 Gt Cdn Oil Sds 7.12% Lochiel Exploration 1.60 Lytton Minerals 1.45 Noble Mines .46 North Cdn Oil 3.30 Numac Oil PanCdn Pete 9.25 Pan Ocean 11.00 Petrol 1.40 Pinnacle -32 Place Gas .32 Ponder .50 Ranger Oil 20.75 Scurry Rainbow 18.75 Seibens Spooner .28 Total Pete 7.87 Vz Ulster Pete .90 United Canso 11.00 WC Pete 3.30 Western Decalta 5.75 MISCELLANEOUS INDUSTRIES Acres Ltd 6.75 Aquitaine B.C. Sugar C Pfd 12-50 Block Brothers 3.00 Canbra Foods 2.70 Cdn Pac A Pfd 28.50 Carling A Pfd 18.25 Carling B Pfd Com Cap Corp 1.75 Crestbrook For Ind 5.00 Crowsnest Indus 21.00 Falconbridge Copper 11.00 F M Trust Co 4.25 Genstar 17.75 Home Oil A 35.12V2 Home Oil B 35.00 Hudson Bay Co 16.62V2 Hudson Bay Oil 27.00 Hugh Rus C Pfd 74.75 Husky Oil 16.50 Husky Oil B Pfd 32.00 Husky Oil E War 6.25 Inter Pipe War 2.75 Inter Steel 16.00 Kaiser Resources 4.10 Kaiser Res War 1.82 Loblaw C Pfd 24.50 Magnasonics 1.90 Pacific Pete 18.87'i Pacific West Airlines Pe-Ben Oilfield Serv 4.90 Rainer Inc 2.75 Royal Trust Sandwell Teledyne Trimac Westfield Min Weston A Pfd Whitepass Yukon 5.75 4.05 4.20 .93 51.00 6.75 PIPELINE STOCKS Alta Gas Line A 12.62M; Alta Gas Line Pfd 55.00 Alta Nat Gas 17.50 Gaz Metro Gaz Metro A Pfd 54.50 Inland Nat Gas N 8. C Gas 9.62% N C Gas B Pfd 19.75 Pac Gas Trans 8.25 Tr-Cda Pipe 9.75 Tr-Cda Pipe A Pfd 53.50 Tr-Cda Pipe B Pfd 31.12% Tr-Cda Pipe War 1.01 WC Trans 19.00 WC Trans War 2.25 CALGARY Acroll .35 Barons Oils .06 N. Continental .02 Western Warner .31 VANCOUVER MINES Bathurst Norsemines 1.40 Cima Resources .87 Dankoe 2.60 Davenport .73 Dolly Varden .18 Equitorial Res. Lornex 7.05 Northair Mines 1.95 Primer .02% Pyramid .09 Silver Standard 1.70 Valley Copper 6.00 INDUSTRIALS Key Industries .05 Wardair 1.65 OILS August Petroleum .30 Plains Pete. .13% Ponderay Explorations .60 Stampede Int'l Res .60 MUTUAL FUNDS All Cdn. Compound 5.15 5.58 All Cdn. Dividend 5.38 5.82 All Cdn. Ventures 2.66 2.89 Amer Growth Fund 3.81 4.19 A.G.F. Special 1.91 Cdn. Invest Fund 4.28 4.69 Collective Mutual 4.48 4.92 Eaton Comnwlth 11.86 Eaton Leverage 2.80 Eaton Infl Venture 5.13 Corp. Investors 5.46 6.00 Corp Invest Stock Fund 4.08 4.48 Dreyfus Fund U.S. 8.33 9.13 Great Pacific 4.09 4.47 Grouped In Shares 2.65 Growth Equity 6.03 6.63 Invest Growth Fund 10.48 11.45 Investors Mutual 4.96 5.42 Mutual Accum 5.50 6.05 Nat. Resources 4.04 4.44 N.W. Cdn. 4.84 5.32 N.W. Growth 3.77 4.14 Principal Growth 3.70 4.06 Provident Mutual 6.48 7.08 Royfund Income 4.98 5.19 Templeton Growth 6.89 7.55 United Accum 3.91 4.30 Universal Savings 7.06 7.77 Univest 5.50 6.05 Vanguard 4.45 4.88 Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Advocate Forest Sugar A Valley Ind Ind O'Keefe Can. NW Cellulose Can Power Credit Central Gas Pfd Ind Marconi Cons. Vickers Coin Dickenson Bathurst Denison Gas Seagrams Dome Bridge Discovery East Textile East Stores Pete First Mobile Giant Cdn Oil Motors Hollinger Lakes Paper Hudson Bay Oil Hydra Iron Sid Walker A Joliet Erie Kerr Oil A Key A Nickel Langis Pipe Madsen Grp A Malartic Infl Martin Ltd Douglas A Intern Nu West A New New Ferg Bloed Corp A Pine 8 Placer Corp Pax Co Quebec CDA Rio Roman Sears Sherritt Can A Steep A Tek Corp. Grp A Mtn Pipe United Can Pipe Western Carbide WH Copper Gas Wright Oil Siscoe Mfg Yellowknife INDUSTRIALS A Canbra Foods Algoma Imperial Atco Scotia Agra Bell Dom Brascan BC 11.00 13.37% 19.00 16.30 12.62V; 8.00 2.30 5.50 23.00 3.20 9.00 21.25 3.05 15.25 14.12V2 13.12VJ 29.00 28.25 14.00 31.50 42.75 25.75 10.25 15.25 25.75 29.37'j 2.75 41.00 20.00 27.75 6.12% 40.25 20.00 28.25 25.75 26.62 V4 14.12'xi 11.12V4 15.00 2.12 5.12V4 7.75 3.00 6.75 25.00 48.62Vi 20.00 11.00 13.62V2 4.80 13.00 10.75 29.62V2 11.75 36.25 10.25 13.87V2 9.62'.'2 19.75 7.75 4.80 5.37% 21.50 24.00 21.50 2.70 23.25 14.75 34.00 29.62% 34.62% New York (Supplied by Richardson Securities of Canada) Amr T T 42.12% Woolworth 12.87% Anaconda 23.87% Westinghouse Elec 12.37% Beth Steel 30.00 U.S. Steel 44.75 Chrysler 14.50 Gen Tel Elec 19.87% Comsat 27.25 TORONTO AVERAGES Dupont 148.50 20 Industrials 183.83 down .85 General Motors 42.37% 20 Golds 513.05 down 15.90 Gulf 19.00 10 Base Metals 01.75 down .62 Int Harvester 22.25 15 Western Oils 179.19 down 1.74 Kenn Copper 34.62% Volume Montgomery Ward 23.00 NEW YORK AVERAGES Sears 63.62% 20 Industrials 750.39 down .70 Std Oil of N.J. 75.75 20 Rails 157.84 down .46 Texas Gulf 28.62% 15 Utilities 67.61 down .38 Texas Co 24.62% 65 Stocks 229.54 down .47 Wix Cor> 10.87% Volume Plant renovated Contractors working for Dresser Clark, currently renovating the old Morton Steel Plant at 2902 5th Ave. N., are taking apart the 20-ton crane shown at left. The crane, to be reassembled on the east end of the Dresser Clark plant at right, is part of an renovation project partially financed by a million federal DREE grant. The New York-based company is expected to eventually employ about 250 people in the manufacture of heavy gas engines, turbines, compressors and pumps for petrochemical and gas transmission industries, the plant should be in limited production shortly and full production in about two years. TSE mid-session prices drop in moderate trade TORONTO (CP) Prices on the Toronto stock market were moderately lower in moderate mid-morning trading today. The industrial index fell .57 to 182.11. golds 11.9 to 517.05, base metals .65 to 81.72 and western oils 1.08 to 179.85. Volume by 11 a.m. was 000 shares compared with shares at the same MONTREAL iCF) Prices were lower in light trading on the Montreal Stock Exchange today. Volume at 11 a.m. was 133.400 shares compared with 151.400 shares at the same time Thursday. The banks index fell 1-58 to 230.97. in- dustrials 1.10 to 196.13. the composite .91 to 186.09 and papers .70 to 118.28 while utilities remained unchanged at 126.0. Dome Petroleum fell to Toronto-Dominion Bank 'z to MacMillan Bloedel '.i to Laeroix 'i to and Massey-Ferguson to Slfi. Among speculative issues. Silver Stack Mines remained unchanged at 79 cents after trading 11.000 shares. VANCOUVER Prices were mixed in heavy trading on the Van- couver Stock Exchange Thursday. Total volume at the close was shares In the induslrials. I'VVA was up SSIiT'i at on 1.074.731 shares TWA preferred A was unchanged at on shares. Canterra was up ,0i ;it .40 on 17.500 shares anil II' International was down .50 at on 4.100 shares. Canadian .Javelin was un- time Thursday. Declines outnumbered ad- vances 118 to 51 with 126 issues unchanged. Dome Pete lost Vz to Imperial Oil A to Mi- crosystems 25 cents to Texasgulf lh to and Grafton Group to Domtar gained Vz to Westburne International to S7Vz, Hamilton Group 25 cents Market trends changed at S8 50 and Key Industries was down 01 at .05. In ihe mines. Barrier Heet was down SI.55 at on 804.531 shares. Cypress was down 2H at 72 on 232.250 shares. Bathurst was down .17 at ?1.43 on 106.- shares and Consolidated Beaumont was down .09 at .40 on 102.300 shares Consolidated Coast silver was down .04 iit .4li and Golden Gate was up .07 al 52 In the oils. Pavette was down .05 at .53 on shares. Cop-Ex was up .02 at 37 feres. Seneca was down .03 at 95 on 17.000 shares and Plains Petroleum was unchanged at .15 on 11.000 shares. Rand A was up .10 at and Alaska Kenai was up .12 at .40. On the curh hoard. Gentry was down .02'2 at 37 on 27.000 shares Mission was up 10 at SI.20 on 24.500 shares. Dasher was up .02 at .HI on 21.000 shares and Kendal was down 03 at .24 on 20.000 shares. Claymore was up .01 al .34 and Junex was down at .34'2. YORK (AI'i The stock iiidrket continued drifting downward today, extending a losing streak that began more than a week ago. Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Friday from the Calgary public stockyards totalled about 750 head, mostly replacements and cows. Trade was moderately active on Winnipeg grain WINNIPEG (CP) Most prices eased in moderate activity at mid- session of the Winnipeg Commodity Exchange today. Volume of trading Thursday was bushels of rapeseed. of flax. 108.000 of feed wheat. 6.407.000 of barley. 2.11.000 of oats and 911.000 of rye. Mid-session prices: Thunder Bay rapeseed: Oct. 20 lower 8.09A; Nov. 20 lower 8.10A; Dec. 20 lower 7.93A: May unchanged 8.23A. Vancouver Rapeseed; Sept. 20 lower 8.53A: Nov. 20 lower 8.36A: Jan. 20 lower 8.26A: Mar. two lower 8.31'-2. Flax: Oct. 30 lower 11.06A; Nov. 30 lower 10.93A; Dec. 30 lower 10.71A: May 30 lower 10.82A. Feed wheat: Oct. not open: Dec. un- changed 4.25A; May unchanged 4.25A. Barley: Oct. 8'z lower 3.07A; Dec. nine lower 3.OTA: May 5'j lower 3.1.1A. Oats: Oct. three lower 1.95A; Dec. unchanged 1.99A: May unchanged 2.00A. Rye: Oct. 15 lower 2.77; Dec. 15 lower 2.75A; May 15 lower 2.78'zA, Grain, quotes Thursday basis Lakehead: High Low Close Rapeseed Thunder Bay Oct 850 829 829 Nov Dec 813 May 823 Rapeseed Vancouver Sept 893'i 873 873 Nov 877 856 856 Jan 868 846 846 Mai- Flax Oct Nov Dec May- Feed Wheat Oct Dec May- May Oats Ocl Dec- May Kye Oct Dec May 854 1125 1131 422 199' 200 307 305 302 833' 833'2 1136 1123 1123 1101 1101 1112 421 421 425 316 318' 198 198 198'i 199 200 292 290 293' 292 290 293'- replacements. It was dull on cows. There were insufficient good steers and heifers on offer to establish a market. Cows met a narrow demand at steady prices. Cows Dl, D2: 22-24. D3: 20-22. D4: 15-24. Replacement cattle were mostly- yearling steers lacking in quality and yearling heifers. Demand was moderate lor replacement cattle with prices around There were insufficient good calves on offer to establish quotations. Good feeder steers over 700 pounds 35-40. Under 750 pounds 35-43. Good feeder heifers over 551 pounds 31-34.30. Hogs average base price 46. Hog prices EDMONTON (CP) Average clos- ing prices provided by the Alberta Hog Producers Marketing Board. Thursday average in brackets: Edmonton: 46.04 Calgary: 46.02 Red Deer: 4606 144.571. Lloydminster: Nil (44.051. I.elhbndpe: Nil 144.401. Fort Macleod: Nil Hogs sold 3.391. average 46.04. Gold prices LONDON (AI'i Thursday's clos- ing gold prices in U.S. dollars an ounce: London 160.00 Paris 162.12 Frankfurt 158.69 Zurich Holiday Hong Kong 154.87 Beirut 5.053 a kilo. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was down 3-50 at 22-25. Pound sterling was down 9-100 at 7-20. In New York, the Canadian dollar 02 17100 Pound sterl- ing was up 1-20 at 2-5. Feed prices WINNIPEG id1) Wheat Hoard domestic feed gram prices Thursday 3 CW Red Spring wheat 4.21; No. 1 feed oats 1 98. No. 1 feed harlev to Shell Canada to and Royal Bank Vs to Agnico-Eagle was down to Camflo to and Kerr Addison V8 to Mindamar rose 10 cents to and Avoca Mines four cents to 55 cents. Siebens fell IVs to Sogepet six cents to and Canada Southern Pete four cents to The a.m. Dow Jones average of .'iO industrials was off 1.26 at 749.S4 and losers led gainers by about a five-to- three margin on the New York Stock Exchange Goodyear Tire and Rubber. N'YSK volume leader, was down 3w at S14-U. F Woolworth dipped Glamor issues continued their slide. Digital Equipment dropped 2'a to SBti'ii, Johnson and Johnson i'j to S9.V i. Motorola 1 't, to Burroughs 1 to Among Canadian issues. Dome Mines lost 1 'H to Seagrams i to Massey Ferguson to Alcau added 'j to Inco 'j to Canadian Pacific Chicago markets CHICAGO (AI'i Farm commodity futures plunged to limit declines Thursday on I hi- Hoard of Trade as rams eased drought conditions Kir the crops in the I'.S. midwest. Although some individual contracts escaped the total drop to the limit, all futures contracts closed substantially lower in li.L'ht trading. The limit losses included sovbeans and wheat 20 cents a bushel: corn 10 cents: oals fi cents; soybean meal 510 a ton and soybean oil 100 points. The Chicago Mercantile Exchange sulk-red similar trends as nearly all callle. pork belly and egg futures fell !o permissible limits. On other markets, coffee futures slipped 201) points alter Hrazil announc- ed new export .regulations to aiiow lower prices for green coffee. New York and Chicago silver markets fell the limit in profit-taking moves. Copper closed lower, while cotton, frozen concentrate orange juice and Maine potatoes also declined. Wool and sugar enjoyed gains on New York markets. On the Mercantile Ex.ch.ange. traders reached to the weaker grain markets and prices tumbled. Live hog contracts fell a hundredweight and most cattle contracts dropped the limit of SI a hundredweight Pork "bellies sagged points alter consis- tenl advances in previous sessions. At the closing, soybeans were 18 to 20 cents lower. August. 8.75; Chicago wheat 15 to 20 lower. September 4.52; Gulf wheat nor traded: corn 10 lower. September 3.69'z; oats were 6 lower, September 1.86'j drain quotes Thursday: Wheat: Sep 4.52. Dec 4.61 'z. Mar May 4.68, July 4.3t> Corn: Sep Dec 3.57. Mar 3.61. May 3.62. July S.fil'i. (tats Sep 1.86'i, Dec 1.90'.. Mar 1 !M. May Gold futures WINNIPEG (CP) Gold futures, U.S. lunds. Winnipeg Commodity Ex- change close Thursday 400-ounce contracts: Oct 74 162.25: Jan 75 168.75A; April 75 172.50A: July 75 179.00. Wednesday's volume: 161 contracts 100-ounce contracts: AUR 74 152 75A; Nov 74 162.00; Feb 75 166.10A; May 75 178.90A; Aug 75 184.00. Wednesday's volume: 168 contracts. Canadian grain exports bring record returns WINNIPEG (CP) Ex- ports of Canadian grain brought record returns to the Canadian Wheat Board during the 1973-1974 crop year, despite a drop in the actual volume of grain sold abroad. Preliminary figures today for the crop year, which ended at midnight CDT Wednesday, show exports of about 610 million bushels valued at billion dollars. In the previous crop year, the board realized billion from exports of about 832 million bushels. Despite the increased returns, and the extra cash thev will mean when farmers receive their final payments for their crops this fall, of- ficials of the Wheat Board are disappointed at the level of the past crop year's export sales. Commissioner Charles Gib- bings termed the situation during the crop year "frustrating." "Our difficulties started with the railway strike last summer. The railways just didn't ever catch up." he said. "An added complication was the very severe weather con- ditions last winer. And this spring, just when railway cars become more plentiful, there were rail line washouts from floods." Truck operators can hike weights EDMONTON (CP) Trucks operating in Alberta can increase their gross vehi- cle weights, effective im- mediately. Highways Minister Clarence Copithorne announc- ed today. New provincial regulations increasing the weights and resulting in uniformity across the country will be proclaim- New bonds go on sale OTTAWA (CPi A new is- sue of million in 9.25-per- cent government bonds offered to investors today was priced at lace value, giving investors 9.25 per cent a year for two years and S'-z months when they mature Feb. 1. 1977. The new bonds are non-cal- lable. and will be ex- changeable at the option of the holder on or before Nov. 1. 1976, into 9.25-per-cent bonds due Feb. 1. 1982. As announced by the finance department Friday, the Bank of Canada has agreed to take up million of the new issue. There already is million of 9.25-per-cent bonds due Feb. 1. 1977. in investors' hands. They were issued June 15. 1974. Sanitation supply firm re-opened One of Canada's largest sanitation supply companies has re-opened its Lethbridge warehouse after a seven-year absence, the local manager said today. Mel Godlonton. manager of the G. H. Wood and Co. Ltd. warehouses, said the local warehouse was closed in 1967 and stock was drawn from Calgary, but increased de- mand caused its re-opening. Mr. Godlonton said the warehouse is one Of about 80 across Canada and holds about worth of stock. The stock covers a complete line of janitorial and sanitation products, including toilet paper, floor polish, soap. product dispensers and gar- bage containers. New manager Marv Tolley has been ap- pointed manager of Lethbridge Firestone Store, officials of the firm have an- nounced. Mr. Tolley. formerly in charge of automobile tire sales in the local store, replaces Bob Solie, who is be- ing transferred to Regina to manage a new store there. EXCITING OPPORTUNITY! Minimum Participation Why don't you DISCOVER us and get acquainted with all the reasons that will make you glad you did. Apply to: Box 65, Lethbridge, Herald ed for implementation Sept. 3, he said in a prepared release. "The interim order effec- tive today which permits increased loading will en- courage orderly transition from current loading and highway limits to the new system." Properly designed and equipped trucks will be able to increase their loading by about 10 per cent, he said. The new limits will increase single-axle loading to pounds from 18.000. and cer- tain combinations will be able f.o carry a gross maximum of i 10.000 "pounds. Mr. Copithorne said the increased limits will help truckers run more profitably, and faster deliveries will alleviate shortages of goods. "A particular advantage will be felt by Alberta's farmers and farm haulers, who have been using increasingly larger trucks in recent years for both grains and livestock." He added that control and enforcement of weight limits will be stepped up to guard against abuse. West crops need rain OTTAWA (CP) Canada said Thursday that rain is needed in all Prairie grain-growing regions if crops are to mature properly this year. It based its statement on in- formation gathered from the federal and provincial depart- ments of agriculture, inde- pendent crop surveyors and the environment department. "More rain is urgently re- quired in Manitoba and most of Alberta to permit proper the federal bureau said in its ninth of 11 reports issued so far this year. "In Saskatchewan, moisture conditions are generally more favorable: haying is nearly completed with average-to-better-than- average yields reported." Commissioner Robert Esdale complained as well of a deliberate slowdown in work by grain-handlers who have been seeking a new contract with terminal elevator com- panies in Vancouver since December. "It's been a continuing problem." he said. "Right now there are 14 vessels in Vancouver harbor waiting to be loaded. The grain is there, but it's not being cleared." The federal government has invoked a little-known piece of legislation to keep the grain- handlers at work, but they will be free to strike next Thur- sday. Despite these problems, Mr. Esdale says there can be no disputing the fact that high grain prices during the crop year resulted in real benefits for farmers. "Delivery difficulties have resulted in some missed sales opportunities. But from a dollar-income standpoint, the producer has not lost much." Oil sands company profits up TORONTO (CPi Great Canadian Oil Sands Ltd. reports results for the first half of 1974 indicate a profit of S2.125.000, including an ex- traordinary gain of compared with a loss of for the corre- sponding period of 1973. The company said the ex- traordinary item is because the income tax provision for the period has been offset by reason of prior years' losses. Revenues for the period in- creased to from Kenneth F. Heddon. presi- dent, said the profit resulted from an improvement in oper- ations and higher crude prices in the second quarter The company had reported a loss of for the first quarter. Dollar up; yen falls TOKYO (Reuteri The United States dollar rose to its highest level in more than two years on the Tokyo exchange market today and the stock market took its biggest plunge in six months as the yen fal- tered under the pressure of higher oil rices. The dollar reached 304.40 yen, its highest point since June, 1972. as Japanese banks scrambled to buy the U.S. currency to cover the cost of oil imports. News of the yen's fall accelerated a downtrend on the Tokyo stock exchange, where losses were spread over a broad front. THE FINEST RETIREMENT AND RECREATIONAL COMMUNITY Blind Bay, between Calgary and Vancouver via Trans-Canada Mall Free Brochure NAME...... ADDRESS PHONE SALESPERSON REQUIRED For employment in a local building supply store. Knowledge of hardware and lumber an asset but not a requirement. Salary commensurate with ability. Reply in writing to Box 51, Herald stating qualifications. ;