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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 10, 1970, Lethbridge, Alberta Monday, Auguil 10, 1970 THE LETHBRIDGE HERALD _ 13 Stock Market Drifts Lower MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Monfreal (Supplied by Doherty, Hoadhouse and McCuaig) LAST BID OR SALE I.tn. Quoits) a.m. Quotes) a.m. Quotes) TORONTO (CP) The To- ronto st o c k market drit'tct lower in light mid-morning trad ing today. On index, industrials were Ottawa Mulls Oil Quotas CALGARY (CP) The fed- eral government is giving ser- ious consideration to oil import quotas as a method of protect- ing Western Canadian produc- ers, Albert Premier Harry Strom said here. The premier, who first.sug- gest import restrictions in March, 1969, said in an inter- view that Prime Minister Tru- deau has been "favorably im- pressed" by Alberta's case for quotas. Any restrictions should be "realistic so that Western Can- ada can have equal or better oil sales. We couldn't possible consider less than this." NEW ATTENTION Crude oil imports -received new attention last week when the Exchequer Court of Can- ada ruled unconstitutional the National Energy Board policy which restricts foreign crude oil to the area east of the Ot- tawa yalley. The area wesS of the valley has been served by Canadian production since when the policy was formed, but the court ruling will allow cheap- er, foreign crude and refined products into the area, cutting the demand for. Canadian oil. Mr. Strom said any move to restrict foreign oil should also clarify the situation regarding movement of oil across the Ot- tawa valley and make the country's oil import policy dear to the United States. Canadian exports of crude oil to the mid-west United States have been restricted by the U.S. government, to the dis- tress of Canadian producers. down .26 to 157.79, OLDS to 155.29, base metals .06 to 94.32 and western oils .09 to 160.55. Volume by 11 a.m. was shares, compared with at the same time Friday. Gains outnumbered losses 90 to 76 with 126 issues unchanged. The market opened with mar- ginal losses, edged upward dur- ing the first 30 minutes of trad- ing and then resumed its crawl downward. Bank of Nova Scotia was down to 18V4, Aquitaine to Falconbridge 14 to Walker-Gooderham to 41Ve, Alberta Gas Trunk to 44 and Canada Permanent Trust Vi to CPR gained to 58, Scurry- Rainbow Vi to and Alberta Eastern Gas 15 cents to BUSY TRADE MONTREAL (CP) Prices on the Montreal stock market moved lu'gher in busy trading The advance was a continua- ion of the strong market Fri- day which ended two days of declines. Belgium Standard, listed on :he Canadian Stock Exchange, led advances with a gain of IVs to On the Montreal Stock Ex- change, Bank of Commerce was up to Royal Bank to 21% and Asbestos Vt to Fraser Development was off 2 :o 22M, Aquitaine to 21Vt and Consolidated Bathurst to' DVA SINKS NEW YORK (AP) Stock market prices nosedived today as trading continued to be slow. At noon the Dow Jones 'aver- age of 30 industrial stocks sank 8.35 points or 1.15 per cent to 717.25. Among Canadian issues on the New York Stock Evchange, Ca- nadian Pacific was up and 3orne Mines and Hudson Bay Mining each were up Granby Mining was down On the Amex, Canadian Jav- elin was down and Jupiter Corp. fell Vi. PM Ends Tour OTTAWA Min- ister Trudeau arrived here by plane Sunday night to end his tour of the North and British Columbia. WESTERN OILS Int Utll PM Almtnex...... 4.90 Inter Steel Warners Lake Bantt 10.75 Joulel B. P. Oil Can South Cdn Exp Gas Cdn Gridoll Cdn Homo Cdn !nd Gas Cdn Long Is Cdn Super cent Del Rio Chleltan Dome Pete Dynarn French Pele Gi Plains Mill City New Cont Numac...... Permo Petrol Pinnacle Place Gas ponder Ranger Scurry Rain spooner West Decal MISCELLANEOUS INDUSTRIALS Atco Indus Aquatatno Brit Nfld Cdn Hyd Car Cdn Pac Inv CPR Pfd Crows Nest Ind. cygnus A Cygnus B Gt Cdn Oil GI Cdn Oil Sd Home Oil A Home Oil B Home and Pil Hud Bay Co Hud Bay Oil Husky Oil Husky oil B Husky Oil War Int Pro Pipe Kaiser Res 3.85 Karn Kotla 4.40 Lake Ont PI 7.20 MGF Manage 7.25 Newconex 9.37W Pac Peto Rank Organ Shell Inv Shell Inv Pfd Shell Inv WIs Sicks Rainier West Cdn Sd White and Yuk CALGARY Acroll Anac Pele Barons OH North Cont Plains Pete West Warner Leduc Calm Madison Qulnalta Rextiale PIPELINE STOCKS Alta Gas Tr L A 44.00 Cdn W Nat Gas 14.25 Inland Nat Gas 9.75 N and C 12.75 N and C B Pfd 26.25 Gaz Metro 3.95 Tr Cdn Pipe 29.00 Tr Cdn Pipe Pfd 38.00 J4.00 Dreyfus F U.S. 9.82 10.7 6.37'A Gr Equity 5.5] 0.0 9 50 Gr In Shares 2.79 3.0 Invest Gr Invest Mutual Mutual Ac F Mulual Gr F Nat Res N W Fin N W Gr 1.23 13.00 1.85 1.90 2.00 5.55 24.75 31.00 10.00 7.10 54.00 1.55 S.95 23.50 170.00 1.26 6.30 1.04 1.26 .80 1.10 Principal Gr 28.00 Royfund 2700 United Ac Universal Sav A.17 6.7 VANCOUVER 9.51 10.. 4.44 5.1 4.35 4.7 3.62 3.9 6.53 7.1 3.38 3.7 3.88 4.' 3.41 3.7 4.65 4.8 U 9.35 17.25 1.25 5.30 t.OS .07 .06 .06 .16 Anuk Arctic Mining Alias Explor Beth Copper Bornitc Ridge Block Bros Brenda B.C. Sugar Ca.pt Inter Churchill Copper Cresthrok For I .Ws croyden Dolly Varden Dynasty Endako Fort Reliance Giant Mascot Granlsle Key Indust Hy's Interior Brew .r. Kamloops Copper Tr Cdn P P A Lornex 38.00 Tr Cdn P War 9.60 Lylton Minerals 5-00 Westcoasf Tr 19.25 Madrona Western Pacific 4.40 New Cronln MUTUAL FUNDS New Imp Mines AGF Special 2.02 Primer........ All Cdn Com 6.10 6.67 Pyramid 7.11 7.77 Silver Standard 3.09 3.38 T C Explor 4.P2 4.41 Texmont 4.85 5.32 Trojan 10.92 11.97 Weslern Mines 2.67 Westcosst Res A.75 5.19 Western Explor 14.00 21.iO 5.00 3.75 100.00 16.75 17.00 2.05 uoo 39.00 At Cdn Dlvid All Cdn Vcnl Cdn Invest F Col Mutual Cmnw Inter 37.00 Cmnw Lev 1.50 Corp Invest 9.90 Corp In S F 4.37 Utica .22 .24 1.15 15.00 .23 3.00 10-75 15.25 2.80 2.70 6.00 .27 .46 7.50 12.37V .55 2.90 13.50 .32 3.00 4.00 .10 7.75 2.85 .34 .07V 1.77 .'4 .25 1.55 .52 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OK SALE 21.75 10.50 16 50 AlLertaii Killed PENTICTON, B.C. (CP) lalph Otis Johnston, 72, of Grande Prairie, Alta., whose car slammed into a concrete abutment so hard it hifted the abutment, died in lospital Saturday. Ills wife Manila, 70, was in serious con- ition. Hit the road with an HFC Traveloan Need extra cash to make that family vacation a reality? See us for an HFC Traveloan. Cover every cost...from gas and oil to luggage, lodging, and souvenir shopping. Repay con- veniently when you return. This vacation, hit the happy road-with an HFC Traveloan! Apply for your loan by phone. We'll supply your loan by mail. a.m. Quotes) INDUSTRIALS Abitlbl Alcan Algoma Sleel Alco Ind Atlan Sugar Bell Tel Brazil Trac B.C Tel Burns B.C. Forest B.C, Sugar CAE Ind Cdn Brew ChGmcell Col Cellulose Cal Power Coron Credit CWN Gas Cdn Indusl Canada S S Cdn Marconi Cdn VIckers Chrysler CPR....... Comlnco Cons Bath Cons Gas Dlst Sea Dom Bridge Domfar Dom Textile Dom Stores Dome Pets Fam Play Fd of Amer Gt Cdn Oil Gen Motors Gt Lakes Pap Gulf Oil Cda Hawker Sid Huron, Erie Hiram Walk imperial Oil Imperial Tob Int Nickel Int Pp Inv gp A Int Utilities Indust Accept Laurenlide Kelly Doug A Loeb....... Loblaw A Metro Stores Massey Ferg McMillan Bloe Moore Corp Molsons A a.m. Quotes) a.m. Quotes! 7.75 Falconbridge Molsons B 2Q.37W North, Cent 12.87V2 Pemblna Pp 10.50 Power Corp 6.25 Price Co 42.25 Rothmans 13 St Law Corp W.OO Shell CDA 8.50 Simpson's 23.8716 Simp sears 15.55 Steel of Can 4.05 Selkir kA 7.25 Texaco 4.35 Traders Gp A 5.50 Trons Mtn Pp 21 37Va Trans Can Pp 1JJ5 Union Gas 9.7S Union OH 9.12Vb Versatile Mfg 32.00 Westeel 3.25 Union Car 5.25 Weston's B 19.62'A Woodward's A 57.50 West Cdn Sd BANKS. Can Imperial Montreal Nova Scotia Royal Tor-Dom MINES 12.37V4 Acme 56.50 Advocate Asb. 8.37'A Akaltcho 4J.OO Area Mines 3.RO Belcher Iron Black Bay Bralorne Broulan Bethlehem Brunswick 41-25 Canada Tung. 16.75 Cassiar 13.50 Central Pat. 41.25 Chimo Conwest 4.25 Cons. Rambler 25.00 Coin Lake 13.12W Cochenour 3.75 Craigmont 5.62'A DIckenson Mina 5 75 Denlson Mines 1621A Deer Horn 17 50 D'Eldona Dome Mines Donalda 29.37'A Discovery Mine 13.75 East Malartlc 144.50 13.75 13.25 19.51 14.00 31 00 950 11'.75 21.50 15.00 2.20 19.50 1500 12.25 17-50 li.OO East Sullivan Frobex First Maritlmes Giant Y.K. 7.50 Gortdrurn 10.37V2 Gunnar....... 19 00 Granduc...... Headway R.L. 2000 Holllnger..... 14.50 Hud. Bay M-S 22.37V2 HYdra Ex..... 10.00 Highland Bell iron Bay 9.00 Iso.......... 16.62'A Joliet Quebec 29.00 Kerr Addison Labrador Loke Shore Leitch Langis silver Macassa Madsen R.L. Malartic G.F. Martin McNeely Maybrun Maclntyre 14.87'A Meta........ 18.00 Midrirn 21.50 Intern Mogul 18 00 New Calumet New Imperial .1016 Nora'nda 3.00 Northgsfe 'J5 Opemlska 1.90 OSlSko....... 37 Patino..... .08 Pine Point Plncer Dev. P.C. Exp..... Quebec Man Rayrock Radiore Rio Algo'm Roman Corp. Sllverflelds Sherritt Gordon Silver Miller Steep Rock Siscoe....... Tek Corp..... Texmont Unper Canada Western Mines Wrtqht Har Wlllroy Windfall Yellowknife Br. Zenmac 1.90 .24 15.25 5.00 2.01 20.50 2.60 1.56 1050 93 ".12 .43 10.75 1.65 25.50 .OB 1.22 58.00 .30 1.30 1.00 27 1.05 7.25 3.50 1-30 8.75 10.8716 2825 3.40 1.34 .05 .70 .23 160.00 .17 .29 11.00 177 29 00 .31 37. 315Q 31.75 .79 .21 1 53 30 1B.50 4.25 2.10 20.55 3.00 2 l.fll 6.00 .AB 1.71 4 20 1.50 Amr T and T Anaconda Bth Steel Chrysler Comsat Dupont General Motors Gulf Int Harvester Kenn Copper NEW YORK STOCKS Supplied by Richardson. Securities of Canada 44.82'A Montgomery Ward 2Z.S2V4 20 Golds 154.81 oft 1.02 24 37V4 Sears 60.75 10 Base Met 94.15 off .25 Std Oil of N.J. 63.fi2Va 15 W Oils 158.33 off 2.31 20.00 Texas Gulf 140.00 Volume 3700 Texas Co 29.50 NpW YORK AVERAGES 118.50 Woolworth 31.50 30 Indus! 715.91 off 9.79 6775 Westingnouse Elec 20 Rails 128.45 off 1.36 26 50 US Steel 30.00 15 Utilities 103.82 off .54 22.37% TORONTO AVERAGES 45 Stocks 225.3S off 2.5S 41.50 JO Indusl 157.39 olf Volume Chrysler Sales Up (CP) Two o; Canada's big three auto maker., report July sales well below those of a year ago. Chrysler bucked the trtnd with a sligh increase. General Motors of Canad. Ltd. reports sales of vehi cles during July, down from a year ago. Ford Canada Ltd. had sales of down from in Julj of 1969. OF 31 months 28.37 2500 Gulf Oil Earnings Lower HOUSEHOLD FINANCE LETHBRIDGE 506-4IH Avenue South-Telephone 327-1511 (two doors west of Krespes) Ask about our evening hours TORONTO (CP) -Gulf Oil Canada Ltd. reports earnings for the first six months of the year of million, down 25 per cent from million in the corresponding period of 1969.' Earnings per share were 37.1 cents compared with 49.8 for the same period last year. The company said the decline occurred mainly in the second quarter and blamed a number of factors, such as higher charges for depreciation, deple- tion, and amortization; higher exploration and wildcat well expense; higher interest charges on borrowings; and generally higher operation costs. President Jerry McAfee said earnings for Hie second half of the year should compare "more favorably with last year than the results for the first half, but earnings for the full year will still be below 1969." He said a major deal has been completed with Mobil Oil involving joint exploratory pro- grams in the Reindeer and ad- jacent areas at the mouth of the Mackenzie River and in the Atlantic offshore. Chrysler Canada Ltd. sold units, up from a year ago. For the seven months to the end of July, GM sold units, down from for (he corresponding period of 1969; Ford sold 117.248, down from and Chrysler down from !ANNOUNCEMENT! PACIFIC PETROLEUMS LTD. KELLY H. GIBSON L. MERRILL RASMUSSEN Pacific Petroleums Ltd. announces promotions of the too senior executives of the Company. Kelly H. Gibson, who joined Pacific as Vice President of Production in 1957 and has been President of the Company since 1964, is appointed Chairman of the Board._ L. Merrill Rasmussen, Who joined Pacific as Manager of Production in 1959 and has been Executive Vice President since 1969, is appoint- ed President Mr. Gibson continues as Chief Executive Officer and Mr. Rasmussen a? Chief Operating Officer of the Company. Livestock Report Calgary Livestock CALGARY (CP) On offe to 11 a.m., about 325 heat mostly slaughter steers an heifers of mixed quality. Tray the province for oil and gas is distributed in grants to the municipalities, he said. Garden Supplies Including: Hose Melnor Sprinklers True Temper Garden Tools Fertilizer 9 Peat Moss Insecticides LIMITED QUANTITIES WHILE STOCK LASTS TO CLEAR AT..... METAL GARBAGE CAN STOR-ALL S1A.95 With Reinforced 3A" Plywood Floor OPEN A CRESTUNE BUDGET ACCOUNT CRESTLINE BUILDERS MARKET LTD. 'LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or 327-5110 ;