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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 14, 1973, Lethbridge, Alberta 20 THE IFTHBRIDGE HERAID Auguil 1973 TSE gold stocks skid downwards TORONTO Gold is- sues suffered broad losses as all sectors of tire Toronto stock market moved lower in light mid-morning trading today. The gold index was off 9 61 to reflecting the falling price of bullion. The industrial considered the major in- dicator of market fell .65 to base metals .55 to 104.42 and western oils 1.27 to 250.02. Volume by 11 a.m. was 000 the same as Mon- day's volume. Declines led advances 34 to j 59. with 167 issues unchanged. Real commu- nication and industrial mining stocks were among declining market sectors while general manufacturing and steel issues were higher. Falconbridge Nickel fell to Dome Pete to Cal- gary Power to Hudson's Bay Co. to and Alcan to Canadian General Security A rose to Canadian ners A to S9. Bell Knit In dustries 30 cents to Royal Bank to Among Dome was off' m to Madsen Red 16 cents to SI.05 and Camflo 10 cents to Rio Algom lost to Dy- nasty Vi to and Consoli-. dated Rambler 10 cents to Livestock Calgary livestock CALGARY Receipts ta 11 a.m. from the Calgary public stockyards show sales of 950 mostly slaughter cat- tle. Trade was slew with buyers bidding cautiously. Slaughter steers sold low- heifers lower and cows lower. Bulls sold steady. Steers Al and 2 54 to A3 53 to 54. Heifers Al and 2 51 to A3 49.50 to 50.50. Cows Dl and 2 40 to D3 37.50 to D4 32 to 37. Good bulls 46 to 43. Replacement cattle were mostly yearling steers weigh- ing more than 750 pounds and heifers 600 pounds and up sell- ing steady. Good feeder steers more than 750 pounds 50 to 55.60. Good feeder heifers 600 pounds and up 50 to 56. Hogs fob Calgary to 11 a.m. average base price 66.30. Preliminary slaughter figures week ended Aug. Alberta hogs beef Canada bogs beef Tara was up to and Canada Tungsten 10 cents to 52.44. MONTREAL -Ml sec- tors except utilities declined Tuesday in light trading on the Montreal stock market. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was compared with shares at the same time Mon- day. Industrials declined .77 to the composite .50 to banks .41 to 263.52 and papers .34 to 130.75 while utili- ties rose .32 to 143.31. On the- Montreal Stock Ex- Multiple Access gained to and Canadian Vickers to while Alcan dropDed to I A C Ltd. to and Imperial Oil Vt to S4l3s. On the Canadian Stock Ex- Joubi Mines fell two cents to 48 cents on a volume of shares traded. Hog prices There were no cattle sales Monday due to the weekly sale of and feeder hogs. Sales hogs met very good demand. Weaners sold strong to higher. Light feed- ers under 100 Ibs. sold to higher. Heavy feeders over 100 Ibs. to higher. Weaners 18 to 33 per head. Light feeders under 100 Ibs. 31.50 to 41 per head. Heavy feeder 100 to 130 Ibs. 40 to 60 per head. Heavy feeders over 130 Ibs. 62 to 71 per head. Light feeders under 100 Ibs. sold from 41 to 62 cwt. Heavy feeders over 100 Ibs. sold 40 to 47 cwt. Bred sows and gilts sold to 172.50 per head. Boars sold 147 to 220 per head. Butcher hogs sold Monday at the Lethbridge yards 68.75 base price. Small car sales higher Brokers9 circle Bidding moves fast as brokers make bids on New York Cocoa Exchange. DETROIT Spurred I by the gasoline small- sales are higher than ever and are expected to take the spotlight when the United States auto industry presents its 1974 models next nionth. General Chrys- ler and American Motors all put heavy emphasis on their new offerings at the lower-priced end of the line. The U.S. auto-makers sdd compact and sub-com- pact cars in the first seven months of an increase of over the same period last year. The small cars ac- counted for 29.3 per cent of U.S. domestic auto sales in the first seven months of this com- pared with 22.4 per cent in the same period of 1972. Small foreign cars also are selling well. The increases have occurred despite the U.S. dollar devaluation that made imports more expensive. U.S. manufacturers expressed confidence that their small-car offerings will blunt the inroads of foreign cars into the U.S. market. There was general agreement among them that the foreign-car share of the U.S. which reached 15 per cent in 1970 and 13.3 per cent last will be reduced next year. The U.S. auto firms also in- tensified studies of alternate power such as Wankel. a German-developed engine Oat has only one-third as many half the size and half the weight of a comparable piston engine. In 1970. General Motors paid the first instalment of what could be a S50-million payment for the right to use the Wankel engines worldwide. In 26 firm reached agreement with Wankel on possible future use of the en- jgine. Suspend trade EDMONTON Trad- ing was suspended at the Ed- monton public livestock yards pending clarification of the market following federal export restrictions imposed at midnight on meat. Hog prices in Edmonton and Calgary dropped about a hundredweight on the Alberta hog producers mark e t i n g which remained open. Grain Prices Miscellaneous quotations Montreal by Doherty. McCnalg LAST BID OR SALE 10-cent chocolate bar on way out a.m. a m. t.m. WESTERN OILS AND MINES Albany Oils Alta East Gas Alminex 1600 7.75 3.30 7 25 B 75 .17 5775 4.00 II 50 35.75 960 27 3 10 11 00 31.25 8 05 2.55 2 35 1.13 7.20 17 75 WINNIPEG Rape- seed and rye were while oats and barley declined in light mid session trade to- day on the Winnipeg Commod- ity Exchange. Flax was not traded. Vancouver and Thunder Bay rapeseed futures moved high- with the distant months reaching or approaching the 20 cent maximum advance. HOME IMPROVEMENT SPECIALS I No. 2 SPRUCE SHEATHING PLYWOOD 4'x8' thick Per Sheet......... ALMATEX PAINT 1st Grode Exterior White Only Oil per gal. No. 1 ROUGH SPRUCE BOARDS 18 SELVAGE EDGE ROOFING 1 x 10 Per Lin. C 60 Ibs. per roll. Colour White. 1 roll covers 50 sq. ft......per roll 5 .23 ADVANCE LUMBER CO. LTD. Pioneer Lumber Dealer Since Cor. 2nd Ave. and 13th St. lethbridgd Phone 328-3301 t Oats and barley were down several with some months of barley down the 10- cent limit. The decline was in response to a Canadian Wheat Board announcement that of- fers of barley would be made on a flat basis rather than an exchange of futures basis as has been the case in the past. Rye prices were mostly higher Monday's volume of trade was bushels of rye and of rapeseed. Rapeseed Sept. unchanged Nov. higher Jan. 15 higher March higher Rapeseed Thunder Oct. 5 higher Nov. 12 higher Dec. 20 higher May 20 higher 7.20B. Oct. lower Dec. lower may and July not open. Oct. 10 lower Dec. 10 lower May 7 lower July not open. Oct. 3 higher Dec. 27s higher May l higher July not open. Grain quotes Monday High Low Close Rapeseed Vancouver Hep 777 Nov 748 Jan 736 Mar 734 Rapeseed Thunder Bay Oct 726 Nov 717 Dec 689 May 700 Oats Oct 20614 Dec 202's May 190 Jly 190 Barley Oct 238 273 728 Dec May 272 Jly 270 Rye Oct Dec May 335 Jly 345 Ei' Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chlettan Dome Dynasty Fort Reliancp Giant Mascot G.-amsIe Great Plains Gt Cdn Oil S Lochiel Lylton Mm Noble Mines Nortti Cdn Oils Numac Pancdn Pan Ocean Petrol Pinnscle Plsce Gas Ponder Ranger- Scurry Rain Seibens Spooner Total Pete Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitame BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrook Ind Crowsnest Ind Cygnus A 7.75 Cygnus B 7.7i 1.12 Falcon Copper It.KVi 8.00 F and M. Trust 5.50 7.00 Gensfar 16.12Vj 10.65' 2 Global Corr.m 44.00 13.25 Home A 47.00 Home B 44.00 Hud Bay Co 17.50 Hud Bay Oil 46.87V3 Hud Bay A Pfd 55 50 Hugh Russell 45.00 Husky Oil 24.75 Husky B Ptd 41.03 Husky D War 8.85 Husky E War 10 75 Hys of Canada 4.25 Inter Prov Pipe B 50 Inter Prov Steel 13.25 Kaiser Res 2.W Lbolaw C Ptd 29 WWgnasonics I'.37Vj Pacific Pete 32 00 P W Air 9.50 Pe-Bcn Oilfield 7 e7V3 Rainier Inc 5.00 Royal Trust 23 75 Com Cap Corp 30 Sandvrell 125 15.12Va Teledyno i 60 1575 West Cdn Seed i.OO Westfield Min 1 34 Weston A Ptd 60.00 While Yukon 11 50 PIPE LINE STOCKS Alta Gas A 11 1B.87V3 Alia Gas Pfd 72.50 14 00 Alfa Nst Gas 19.50 Inland Nat Gas 11.25 7 90 N and C Gas 10.00 .95 N and C B Pfd 2200 6 Pacific Trans 11.42ft 5.65 Gaz Metro i 40 Gaz Metro A 44.00 Trans Can Pipe Tr Can A Pfd 53 00 14 00 Tr Can B Pfd 39.25 22.8714 Tr Can War 5 40 T 50 WC Trans 17.75 7.85 WC Trans 3 40 24.50 CALGARY 29.12'A Acroll .59 30.25 Berons Oil .04 9.25 Nortti Cont 05 29.50 West Warner .35 1.27 .13 Jl 31 00 VANCOUVER MINES Afton J.30 Atlas Explor .46 Beth Norse 1.50 Dankce 1 Davenport 41 Doily Varden .27 Eqmtonal Res 20 Gibraltar 13.50 Lorncx 12.00 Primer 11 Pyramid 13 Silver Stan 1.35 Valiey Copper 9.50 INDUSTRIALS Col Brew Key Indust Wardair 1.90 OILS PRP Explor 1 33 Plains Pete .22 Pond Explcr 1.00 Stam Int'l Res 1.25 MUTUAL FUNDS All Cdn Com 6.97 7.S8 All Cdn Divl 7.46 8.11 All Cdn Vent 3 70 4.07 Amer Gr Fd 5.38 5.91 AGF Spec 2.80 Cdn Inv Fd 5.13 5.42 Coll Mut 5 83 6 45 Comm Inter 14 65 16.10 Comm Lever 3.83 4.21 Comm Vent 7 37 810 Corp Invest 6.23 6.85 Corp Inv St Fd 5.13 5.4J Drey Fd U.S. 11.79 11.62 Gr Pacific 4.74 5.18 Gr In Shares 3.42 3.77 Gr Equity Inv Gr Fd Inv AAutual Mut Accum Mut Gr Fd Nat Res N W. Cd 7.77 8.54 12.57 13.75 5.92 6A7 605 665 354 3.92 4.W 5.48 5.74 6.31 4.39 S.42 4.43 4 87 4.79 7.06 N.W. Growth Prln Growth Royfund Temp Growth 8.48 927 Un Accum 5.15 5.44 Umv Sav 7.94 8.73 Unlvest 4 01 4 60 Vanguard 6.33 4.94 Toronto industrials By RlenirOMui SeenriUec of e.m. LAST BID OR SALE a.m. a.m. Dollar Value MONTREAL U.S. dollar in terms of Canadian funds at noon Tuesday was up 1-20 at 43-100. Pound ster- ling was down 7-20 at 42.48 31- 100. In New the Canadian dollar was down 1-20 at 57- 100. Pound sterling was down 47-100 MINES Acme Asb Akaitcho Bralorne Broulan Bethlehem Bovls Brunswick C N West Lend Canada Tung Casslar Pat Chlmo Conwest Cons Rambler Coin Lake Cochenour Craigmont Dlckenson MJne Dsr.ison D'Eldona Dome Mines Discovery Mint Easr Maiarlic East Sullivan Falconbridge Frobex Firsf Giant Y K Granduc Holhnger Hudson Bay M-S Hydra Ex Iron Bay ISO Jollet Quebec KBIT Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G F Martin McNeely Meta AAIdrim Intern Mogul Nu West Homes New Athona New Calumet Noranda Northgata Norlex Pine Point Placer Dev .14 1.22 1.02 2.25 .41 16.25 2.25 7. BO 2.46 11.00 1.00 1.10 S.05 3.65 .U .67 Pax Exp Quebec Man Rayrock Radlore Rio Algom Roman Corp Sherrltt Gordon Steep Rock Tek Corp Texmont Upper Canada Western Mines w H Cop Wright Harg Willroy Windfall Yellow Bear Zenmac 2.30 .12 1.25 .36 JB.75 9.00 16.00 1.63 4.10 .24 2.85 3.2S 3.50 M 1.10 .14 3.90 .10 Git Cdn Oil Gen Motors Grt Lakes Pp Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Hur Erie Imp Oil Imascs Int Nickel Int Inv Grp A Int Utll Ind Accept Kelly Doug A Laurentide 8.05 U.lZVi 23.50 35.87'A 18.75 4.30 56.25 27.50 41.25 31.12V4 32.75 23.25 24.25 INDUSTRIALS A 39.00 Abitlbl 12.50 Met Stores .43 Alcan 31.87'A Massey Ferg 80.50 Algoma StKl McMillan Blot 1.25 Atco Ind 12.00 Moore Corp 3.65 Jannock 7.00 Me I sons A Agra Ind 9.75' Molsons B 79.25 Bell Tel .40.50 Nachurs Brazil Trac 17.50 North Cent .71 B.C. Tel 51.75 Power Corp 8.00 Burns 16.75 Price 4.00 B.C. Forest 19.37'A 44.50 B.C. Sugar 19.00 Shell CDA 27.50 Bow Val ind 34.00 Simpson's .26 Cable 14.00 Simp Sears 3.60 CAE Ind steel of Cda 2.20 Cdn Brew 4.00 Selkirk A .23 Chemcell K 60 Texaco 12.87'A Col Cell 5.00 Traders Grp A Calgary POV.T J3.00 Trans Mtn Pp Coren Credit 1.85 Trans Cda Pp 2.85 C.W.N. Gas Pfd 10.87V3 Union Carb .05 Cdn Ind 15.12Va Union Gas 1 07 Cdn Marconi 4.25 Union Oil .94 Cdn Vickers 20.75 United Siscoe .25 Chrysler Versatile Mfg 56.00 C.P.R. 17.00 Westeel .17 Commco 32.50 Weston'i B .15 Cons Bath 24.50 woodward's A 14.00 Cons Gas 15.50 West Cdn Seed 9.25 40.7S Zenith Elec .14 Dom 37.50 Domfar 22.50 BANKS 54.25 Dom Tex 9.00 Cdn Imp 6.45 Dom Stores 14.75 Montreal .30 Dome Pett 35.37'A Scotia 36.75 Dofasco M.25 Royal 28.7S Glendalt Tor-Dom 11.25 4.65 6.00 18.00 32.62'A 51.00 23.75 11.75 15.37 Vi 12.37ft 19.25 8.50 11.00 32.00 15.25 66.75 16.75 20.00 27.75 17.50 575 16.62V2 5.00 7.25 14.75 31.75 23.75 5.00 2.75 17.75 33.75 35.25 33.50 New York stocks By RidMrAfon SeewrtHw ot Amr T and T 47.37ft Sun Anaconda 22.37IA SM CHI of N.J. 25.1IV4 Beth Sleil 26.00 TexM GuHf M.25 Chrysler 24.00 Texai Co Comsat 46.87V4 Wleki U.7i Woolworfli J0.37Vi Gen 63.3i Elec Gulf U.S. Steel J7 K Int Harvester Gen Tele Elec Ktnn Copper TORONTO AVIRAOII Mont ward O.U elf Jf 333.40 eft 19.50 10 103.S5 oft 1.12 11 West off Volume HIW YORK AVtRAOIS 30 Ind oft 1.27 20 Rllll 157.11 off .41 If Utll 94.96 off .0 SlwJU Me.41 off Jl VMUTM By RON SCHERER Christian Science Monitor NEW N.V. The 10- cent chocolate bar isn't what it used to be. For one it shrank. And pretty soon it probably won't be 10 cents. Changes like these come about because of soaring prices for cocoa beans and other in- gredients In the wafer of choc- olate. to go one step the high prices for cocoa beans are due to turbulent interna- tional monetary poor crop and wild speculation on commodities markets. what hap- pened in the cocoa market this year in a broader sense is typical of almost the entire spectrum of international com- including sil- and plati- num. The combined effects of un- certainty surrounding the value of following dollar devaluations and almost con- tinuous weakness of the green- back the rise of spec- ulative commodity and the inability of the producing nations to supply inflation-rich consumers have created in- tense upward pressures on prices. like other commodi- became a haven for tfcc- ulators who did not desire to keep their money in weakening dollars. It has been said that some Middle East interests have invested heavily in cocoa. Some other peculiar aspects of the cocoa market this year have included costly specula- tion by some people who should have known better that the cocoa trade. Because of the ballooning and a belief could not stay high for at least one British choco- Rowntree Mackin- got heavily involved with speculating the price vyoiild and it lost mil- lion on what it later termed cocoa Another British Fer- guson Wild and Co.. fa subsidi- ary of William Baird and saw a loss of million be- cause of what it called cocoa trading by its commodity department. 'Practise ivhat you EDMONTON A bot- tle oE with two price labels earned a city man to criticize the Alberta Govern- ment for not practising what it preaches. The who did not want his name to be said be noticed two price labels on a bottle of Winzertanz he was pouring at a barbecue. The bot- tom tag said The tag on the top said Consumer Affairs Minister Bob Dowling has condemned the practice of putting labels with higher prices on top of old labels. The lower-priced stock should be used up be- fore new prices are implement- he said. The minister asked Albertans to call his department if they noteed such abuses. The man who found the double-priced bottle said that if the government is going to complain should be pre- pared to make sure their liquor stores follow the same rules. American chocolatemake r thus far have not reported any losses because of speculation. But they complain that the as- tronomical prices of cocoa beans combined with the Phase price freeze left them with smaller profits. The only way they can cope with the prob- some analysts is to reduce the size and increase the price of the candy bars. one broker on tbt floor of the Cocoa Exchange good is it if you give the public a skinny In that is one o it the major problems facing the in- dustry in the United States. The public always seems to notice the shrinking chocolate bar all at once and refuses to buy it. Earlier in the year Peter of announced a price hike to IS osnts 50 MI its Mounds and Almond Joy can- dies while increasing the size by only 17 percent. Phase forced the company to postpone the increases. At this Peter Paul says it doesn't know what it will do. It the trade magazines believe the 10-cent chocolate bar is on its way to the history books. Also early in the year Her- shey Foods Her- reduced the size of its 10-cent bar to 1.26 ounces from 1.38 ounces. Because this came prior to the the reduction stuck. But since the beginning of the year prices of cocoa beans imported raw product not covered by price have doubled. They have tripled in price since and 'now cocoa for September de- livery sells for a record 85 cents a up from March's 35 cents a pund. One of the reasons for record prices is drought conditions in West Africa and where the majority of cocoa beans are grown. Cocoa production ia estimated at 1.4 million down from 1.5 million tons a year ago. At the same time consumption of cocoa has risen. According to the June report of Gill and an Interna- tional cocoa concern based in in April details of the greatly increased first- quarter grindings amount of processed in the and the United Kingdom became This increase spur- red aided by increased buying interest by Eastern European nations and the So- viet the firm notes. Pensioners seeking food price freeze TORONTO A group of old age pensioners have writ- ten to Prime Minister Trudeau asking that food prices be fro- zen for at least 90 days and that old age pensions be increased to a month. The signed by R. G. D. president of Pension- ers Concerned said that unless the federal gov- ernment gives at- tention to ths plight of our 1.8 million senior the old age pensioner most watch help- lessly his income and his savings steadily disappear due to circumstances beyond his HELP.. 1200 Colltge need a place to Mvt Students are now looking for oceomo- dationi In Lethbridge ROOM AND BOARD LIGHT HOUSEKEEPING ROOMS APARTMENTS DUPLEXES BASE- MENT SUITES HOUSES If you can help OUT College clip and fill out the coupon and mail it today. WILL YOU Mail le STUDENT SERVICES Community Alberto will contact you NAME Immediately upon receipt of Kour.cou- ADDRESS PHONE I pen. LETHBRIDGE COMMUNITY COLLEGE ;