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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 9, 1974, Lethbridge, Alberta THE LETHBRIDGE HERALD Friday, August 9, 1974 Tin- Herald Business Industrial index drops Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN Trust 20 37 'i AND 5 75 Afton 4 25 Albany Oil 4 30 Alia East Mm 90 A Pfd 50 00 Yukon 6 62' Ashland STOCKS BP Gas Trk A 12 12', Brenda Gas Trk Pfd 54 00 Cda Nat Gas 17 50 Cdn Ex Metro 5 50 Cdn Metro A Pfd 55 00 Cdn Ind Gas Nat Gas 1250 Cdn Long and C Gas 10 00 Cdn and C Gas B Pfd 19 50 Chief'an Gas Trans 8 37' 2 Dome Pipe 9 37' 2 A Pfd 52 00 Fort B Pfd 31 12' 2 Giant Pipe War 99 Gibraltar Trans 1925 Gt Trans War 2 25 Gt Cdn Oil LocNel 25 Lyt'on Oils 06 Continental 02 North Cdn Warner 30 Pancdn Par Norsemmes 1 15 Resources 95 67 Place 2 45 Varden 17 Ranger 87' Res 10' 2 Scurry 7 25 Mines 1 90 02 Total 62' 10 Ulster Standard 1 56 United Copper 5 90 Westcoast West Industries 06 1 50 Acres Petroleum 28 Pete 13 BC Sugar C Explorations 65 Block Int I Res 60 Canb'a FUNDS Cdn Pac Inv A Cdn Compound 524 570 Cabling O Keefe A Cdn Dividend 5 47 5 95 Caring 0 Keefe B 62' Cdn Ventures 2 62 2 85 Comm Cap Growth Fund 3 95 4 34 Crestbrook G F Special 1 98 Invest Fund 4 34 4 76 Falcon Mutual 4 54 4 98 F and M Trust Comnwlth 1187 Leverage 2 82 Home Oil Int I Venture 511 Home Oil Investors 5 49 6 03 Hud Invest Stock Fund 416 4 57 Hue Bay Fund US 8 67 9 50 Hjgn Russell C In Shares 2 66 0 Equity 5 95 6 54 HUSKY Oi B Growth Fund 1058 1156 f. Mutual 5 01 5 47 Inte'prov Pioe Accum 5 50 6 04 Interorov Steel Resources 4 04 4 44 Kaiser W Cdn 4 95 5 43 Kaiser Res W Growth 3 93 4 32 Loblaw Co C Growth 3 70 4 06 499 519 Pacif c Growth 6 78 7 43 Pac West Accum 3 97 4 36 Pe Oilfield Savings 718 790 4 62 5 06 TORONTO (CP) Prices on the Toronto stock market were moderately lower in light mid-morning trading today The industrial index fell .61 to 185 70, and western oils 1 75 to 180.56. Golds rose 11.1 to 490 62 and base metals .16 to 8164 Volume by 11 a.m. was 000 shares compared with shares at the same time Thursday. Declines outnumbered ad- vances 92 to 87 with 169 issues unchanged Argus lost 2 to Home Oil A JAI to V4. Stelco A to Vz, TransCanada Pipelines to and Moore to Upper Canada Resources was down five cents to Canada Tungsten five cents to and Matachewan two cents to 14 cents. Canada Northwest fell 15 cents to Chieftain to and Western Decalta V8 to Noranda A gained to Pamour to East Malartic Vi to Agnico- Eagle V8 to and Decca 20 cents to Toronto mines., industrials (Supplied by Richardson Securities ot Canada! MINES Ac-re Ad ocate Asb Akaitcho Bralorne Broulan Bethlehem Bovis Br jnswick Can NW Land Canada Tung Cassiar Central Pat Cnmo Conwest Cons Rambler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines D Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Mantimes Giant Y K Granduc Hollmger A Hudson Bay MSS A Hyd'a Ex Iron Bay ISO Johet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G F Martin McNeely Maclntyre Meta Midrim Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Norlex Pme Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Sherritt Gordon Steep Rock Sunningdale Tek Corp A Texmont Canso Western Mines WH Copper Mines Wright Hargreaves Willroy Windfall Yellowknife Bear Zenmac INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Agra Ind Bell Tel Brascan A BC Tel Forest 1 Sugar 1 Valley Ind 1 Ind 11 Power 1 Foods Cellulose O Keefe Credit 1 Gas Pfd 1 Ind Marconi Vickers 1 9 Bathurst 43 Gas Seagrams Bridge 1 5 87 Textile Stores Pete Mobile Cdn Oil 1 Motors Lakes Paper Oil Sid 1 Walker A Erie Oil A A Nickel Pipe Grp A 1 Int I 1 Ltd Douglas A 5 A Ferg Bloed 5 Corp A B 19 1 Cent 1 Corp Co 29 CDA 9 37 1 Sears Can A 3 A 11 Grp A Mtn Pip Can Pipe Carbide 1 Gas Oil Siscoe 07 Mfg 1 1 29 A Imperial 6 42 Scotia 14 Dom 11 12V, 13 62 '4 2000 1750 1250 8 2275 270 5 37' 2 235 600 335 900 21 75 305 1575 1375 2900 2875 1500 32 42 67V, 26 37' 2 10 15 12V, 2600 30 295 725 4425 20 37' 2 2700 1650 600 41 2025 29 87 y2 2550 27 1387V4 6 37 1225 15 12V, 5 62V, 255 5 725 295 675 925 1650 2725 4850 20 62V? 19 12', 600 1000 480 11 00 1400 1425 7 11 00 30 62V, 11 75 3725 975 1400 9 37V, 7 87 8 87 V, 450 5.25 2225 2400 21 75 23 87 V, 14 87 V, 34 62 V, 2950 3550 New York (Supplied by Richardson Securities of Canada) Amr 4387V4 Woolworth 1337V, Anaconda 2337% Westinghouse Elec 1350 Beth Steel 30 67V, U S Steel 45 75 Chrysler 1512V, Gen Tel Elec 2062V, 29 00 TORONTO AVERAGES Dupont 153.00 20 Industrials 185 23 down 1.08 General Motors 4475 20 up 1330 1987% 10 Base Metals 81 57 up 09 Int Harvester 23 l2Vi 15 Western Oils 18054 down 1 77 Kenn Copper 3475 Volume Montgomery Ward 27 12V, NEW YORK AVERAGES Sears 67 62V, 20 Industrials 778 39 down 6 48 Exxon 76 12V, 20 Rails 162 02 down 30 Texas Gulf 2912% 15 Utilities 69 62 down 03 Texas Co 25 12% 65 Stocks 237 23 down 1 33 Wix Corporation 1250 Volume Market trends MONTREAL (CP) Prices were mixed in light trading on the Montreal Stock Exchange today Volume at 11 30 a m was shares compared with shares at the same time Thursday Banks fell 1 27 to 233 68, industrials S2 to 200 18 and the composite 54 to 189 67 while papers rose 95 to 123 48 and utilities 05 to 128 28 Alcan fell '4 to Domtar V4 to and International Nickel Vi to while MacMillan Bloedel rose 1 to and Algoma Steel '4 to "4 Among speculative issues Silver Stack Mines rose two cents to 75 cents after trading 16.100 shares VANCOUVER (CP) Prices were down in light trading on the Vancouver Stock Exchange today First hour lolume was 199.075 shares In the industrials Cornat was un- changed at 95 on 2.800 shares In the mines Grandora was up 02 at 22 on 38 000 shares In the oils Alaska Kenai was un- changed at 30 on 8 500 shares On the curb exchange, shares were traded Santa Santa was up 01 at 49 on shares NEW YORK (AP) The stock market slipped back quietly today in a calm round of profit-taking as the U S marked a change of presidents The 11 30 a m Dow Jones average of 30 industrials was down 9 31 at 775 58 and losers htld a three-to-two edge on gainers at the New York Stock Ex- change There was the normal bustle of ac- tivity at tke opening, but no heavy sur- ge of orders either to buy or to sell and trading was slow by late in the morn- ing as Gerald Ford prepared to take the oath of office to succeed Richard Nixon in the White House Analysts said the traders who bid up prices m the first three days of the week, anticipating Nixon's resignation, were taking profits in an illustration of an old market maxim "buy on the rumor, sell on the news Marcor Inc NYSE volume leader, was up V< at Most issues showed only fractional changes Winnipeg grain WINNIPEG (CP) Rye futures continued to weaken and prices for other grains were down as well in ex- tremelv light trading at mid session to- on the Winnipeg Commodity Ex- change Rapeseed was down as much as its dailv trading limit of 20 cents, while flax feed A heat and oats experienced smaller losses with virtually no contracts changing hands Barlev was open in all contract months and down eight cents or more Thursday's volume of trade was I 952 000 bushels of rapeseed, of flax 207 000 of feed wheat 4 033.000 of barlev 507 000 of oats and of MID SESSION1 PRICES Thunder BdV Rapeseed Oct 20 tents lower 8 OOA Nov 20 lower 8 02A Dec six lower 7 99A, May un- changed 8 08 A Vancouver Rapeseed Sept 14 lower 848'zA Nov .20 lower 8 24'aA, Jan 20 lower 8 ISA March 20 lower 8 06A Flax Oct 9'z lower 11 10A, Nov eight lower 10 98A Dec three lower 10 73A. Mav four lower 10 70A Feed Wheat Oct 10 lower 403A, Dec unchanged 4 ISA, May unchanged 422A Barlev Oct eight lower 3 17, Dec 9'z lower 3 May eight lower 3 17B Oats Oct 3'< lower 1 91A. Dec one lower 1 91 May 3V2 lower 1 94A Rye Oct 13'4 lower 2 72'zA. Dec 12 lower 2 66B May 11'2 lower 269'2A Livestock Calgary CALGARY (CP) Receipts to 11 a m Friday from the Calgary Public totalled about 700 head, mostly plain quality replacement cattle Trade was dull on replacements, ac- tive on a few slaughter cattle which were offered There were insufficient slaughter steers and heifers on offer to establish a market Steers Al to 52, to 49 Heifers A1 A2-40 to 42 80, A3-37 50 to 39 Cows Dl to 26, to 23 50. to 20 There were insufficient good replacement cattle sold early to es- tdbhsh a market Hogs base 46 25-46-45 Hog prices EDMONTON (CP) Average clos- ing prices Friday provided by the Alberta Hog Producers Marketing Board Thursday average in brackets Edmonton 46 26 (45 57) Calgary 46 32 (45 64) Red Deer 4630 (4560) Grande Prairie Nil (nil) Uoydmmster Nil (44 78) Fairview Nil (nil) Lethbridge Nil (45 06) Fort Macleod Nil (4495) Hogs sold 2.692, average 46 29 Sows average 24 65 Hogs sold Thursday average 45 44 Sows average 2430 Grain quotes Rapeseed Nov Dec Rapeseed Sep '2 Nov '2 Jan Mar Oct Nov Dec May Feed Oct Dec May Oct Dec May Oct '4 Dec May '2 Oct 288 Dec 281 May Earnings By THE CANADIAN PRESS British ..Columbia .Packers Ltd 24 weeks ended June 16 1974 a share, 1973, Canadian Hydrocarbons Ltd., six months ended June 30 1974, 870 000, 50 cents a share. 1973, 24 cents Canadian Superior Oil Ltd., six months ended June 30 1974, 73 a share, 1973 65 cents Chieftain Development .Co. Ltd., six months ended June 30 1974, 6 7 cents a share, 1973, 233 3 9 cents MacMillan Bloedel Ltd., six months ended June 30 1974, 37 a share. 1973, Mico Enterprises Ltd., year ended April 30 1974, 60 7 cents a share. 1973, 176 cents New Calumet .Mines .Ltd., nine months ended June 30 1974 loss 1973 North Canadian Oils Ltd., six months ended June 30 1974. 16 cents a share 1973, 12 cents Pennant-Puma Oils Ltd., six months June 30 1974. 2 2 cents a share. 1973. no comparable figures available Transair .Ltd., .six months ended June 30 1974, 106 cents a share. 1973, 82 cents United Westburne Industries Ltd., three months ended June 30 1974, 22 a share, 1973. 32 cents Wajax Ltd., six months ended June 30 1974 13 a share, 1973 70 cents United Corporations Ltd., three months ended June 30 1974 352 Westeel-Rosco Ltd., .six months end- ed June 30 1974 S.! 137.000 24 a share 1973. 000 44 Currencies MONTREAL (CP) Friday's mid- day foreign exchange selling rates supplied by the Bank of Montreal Australia dollar 1 4700 Bermuda dollar 1 01 Brazil cruzeiro 1420 China renmmbi 5100 Demark kroner 1680 France franc 2105 Germany mark 3850 India rupee 1270 Italy lira 001540 Japan yen 003270 Mexico peso 0795 Netherlands guilder 3760 South Africa rand 1 4860 Switzerland franc 3330 United States dollar 9775 United Kingdom pound 2 3400 USSR ruble 1 309 Yugoslavia dinar 0650 Quotations in Canadian funds Dollar value MONTREAL (CP) U S. dollar in terms of Canadian funds at noon today was up 2-25 at 97 17-25 Pound sterl- ing was up 63-100 at 31 4-5 In New York, the Canadian dollar was down 2-25 at 02 19-50 Pound sterling was up 9-20 at 37 3-10 Potato acreage below average OTTAWA (CP) The preliminary estimate of acreage of the current potato crop is acres, seven per cent more than the 1973 crop but fqur per cent less than the average of the previous 10 years, agriculture department economists said Thursday in a forecast of se- lected crops Acreage estimates of other crops and relation to previous years were as follows. Sugar beets: acres, about equal to the 1973 crop but 17 per cent below the 1963- 72 average. Dry peas acres, 19 per cent above 1973 and 20 per cent above the 10-year average. Dry beans: acres, 13 per cent above 1973 and 57 per cent above the 10-year average. Buckwheat: acres, 32 per cent less than the 1973 crop and 30 per cent below the 10-year average. For the potato crop the esti- mates by province and the change from 1973 were: Construction work value up in 1974 OTTAWA (CP) The value of construction work done dur- ing 1974 is estimated at billion, up 15 per cent from the billion done last year, Statistics Canada said in a re- port released Thursday. By province, the largest an- ticipated increase for 1974 is in New Brunswick where the estimated value of Wall Street calm after Nixon exit NEW YORK (AP) Wall Street accepted calmly today the news of Richard Nxion's resignation as president. The stock market opened on schedule with prices slightly lower in moderately heavy trading Officials at the New York Stock Exchange made the decision to open the biggest securities market in the U ited States shortly before 10 a.m. They were convinced they could maintain an orderly market. "This market should never said exchange Chairman James Needham. At 10.30 a.m., the widely- watched Dow Jones average of 30 industrials was down 6.57 at Prior to the opening, Needham said he had "a visceral feeling that the whole market has disarmed itself and there won't be much ac- tivity in the market." Other brokers generally agreed, saying that investors had already foreseen and reacted earlier in the week to the possibility of Nixon's resignation. After a strong rally on speculation of the resignation, investors took their profits Thursday as the word from Washington became official. million would exceed the 1973 total by 25 6 per cent. Estimates for other provinces and the projected increase over the value of work done last year are Alberta, billion, up 16.8 per cent, Quebec, 064 billion, up 16.2 per cent; British Columbia, including figures for the territories, 442 billion, up 15.6 per cent, Ontario, billion, up 14.4 per cent, Nova Scotia, million, up 13.7 per cent, Saskatchewan, 32 million, up 10.4 per cent; Prince Edward Island, 6 million, up 9.3 per cent; Manitoba, 92 million, up 9.2 per cent; and New- foundland, 76 million, up nine per cent. The projected total gain of 15 per cent compares with in- creases of 16.5 per cent in 1973 and nine per cent in 1972. The largest increase in dollar terms likely will occur in housing. Statistics Canada said, and the percentage increase in building construc- tion during 1974 is projected to be 13.9 per cent By industry sectors, the largest anticipated gains include: commercial es- tablishments, 43.1 per cent, forestry, 28.1 per cent; and manufacturing 26.4 per cent Prince Edward Island, acres, up 10 per cent; Nova Scotia, acres, up 16 per cent; New Brunswick, acres, up nine per cent; Quebec, acres, up six per cent. Ontario, acres, up two per centfMani- toba, acres, up 17 per cent, Saskatchewan, acres, up 17 per cent; Alberta, acres, no change; and British Columbia, acres, no change. CONDITIONS ADEQUATE The report, from economists T A Bennett and N L Longmuir, said mosj; potato producing regions are experiencing adequate grow- ing conditions and an average to above-average yield is an- ticipated The yield might total 50 3 million hundredweight. Prices during the 1974-75 marketing year are expected to remain below those of the Moving out On their way to the West Indies, these three refuse trucks man- ufactured by Haul-All Equipment Systems, a division of Neufeldt In- dustries of the city, were loaded aboard CP Rail flatcars recently for the first leg of the long trip. Worth the units will go by rail to Montreal, with one destined for Granada and two for Mont Serrat. The contract was obtained through the Canadian International Develop- ment Agency. previous season Sugar beet acreage projec- tions by province were- Quebec, acres, down five per cent from 1973, Manitoba, acres, up 13 per cent; and Alberta, acres, down eight per cent Sugar beet production may total tons, down about three per cent from 1973. Dry pea acreage estimates by province were: Quebec, 500, no change from 1973, On- tario, down six per cent; Manitoba, up 14 per cent, Saskatchewan, up 62 per cent, Alberta, up 21 per cent; and B.C., no change. Production might total bushels, about the same as in 1973 Dry bean production might total 1.95 million hundredweight, up about 12 per cent from 1973. Buckwheat acreage in New Brunswick, Quebec and On- tario was estimated to be about the same as 1973 while in Manitoba, where there were poor spring conditions, the total of acres was down about 38 per cent from 1973. Production might total bushels, down about 33 per cent from the previous year GMcar prices hiked DETROIT (AP) General Motors in Detroit announced today prices on its 1975-model cars and trucks in the United States will go up an average in September. GM said the new prices will reflect a increase for emissions control equipment and a or seven per cent, increase to cover rising costs experienced by the company. The large increase com- pares with an average increase GM put through on its 1974 models at introduction last September. The new increase also is less than the average of by which GM raised prices throughout the 1974-model year Petrofina earnings MONTREAL (CP) Net earnings of Petrofina Canada Ltd amounted to or a share for the first six months of 1974, up from or a share in the corresponding period last year. The firm reported today that cash generated from operations was or 26 a share, against 000 or 97 a share in the first half of 1973. EXCITING OPPORTUNITYI 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 APPOINTMENT o. R. MCLAUGHLIN, M.Sc. Burns Foods Limited an- nounces the appointment of D. R. McLaughlin, M.Sc, to the position of Nutrition- ist of the Vigor Feed Divi- sion. Mr. McLaughlin is a gradu- ate of The University of Guelph. APPOINTMENT R. H. WRIGHT, B.Sc. Burns Foods Limited an- nounces the appointment of R, H. Wright, BSc., to Sales Manager, Vigor Feed Division. Mr. Wright is a graduate from Montana State Uni- versity APPOINTMENT J. H. HANNA, P.Ag. Burns Foods Limited an- nounces the appointment of J. H. Hanna to General Livestock and Beef Man- ager. Mr. Hanna, a gradu- ate of Ontario Agricultural College has been associat- ed with the livestock in- dustry for over 25 years, and in his new position will coordinate beef and livestock operations of the Meat Packing Division of ;