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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 15, 1973, Lethbridge, Alberta Meat price list An unidentified shopper in a New York city supermarket ponders a newly placed meat price ceiling list while trying to pick the cheapest cuts. The current freeze on beef prices is expected to end on September and the sign was placed in the store to comply with Phase 4 ruling. Aufvtt 1973 TM UTHMIDM HHtALD 21 Trigger economy changes World food shortages make mark By H. J. MAIDENBERG New York Times Service NEW YORK The univer- sal shortages of basic food- stuffs now plaguing the more industrialized nations of the Hog prices EDMONTON Aver- age prices to 11 a.m. today pYo- vided by the Alberta Hog Pro- ducers Marketing Board. average Tuesday 63.61. average Tuesday 64.18. N i 1 average Tuesday 63.79. Fort Nil average Tuesday 63.40. Total hogs sold to 11 a.m. 234. Total hags aver- age 63.74. Sows average 48.85. world is triggering the most profound changes in their agri- cultural economies since the end of World War II. Having built their industrial might on secure and ample supplies of relatively cheap the United Can- Japan and the So- viet for are now faced with soaring prices for what was formerly their clheapest raw material. the other the short- ages of foodstuffs and other basic commodities are proving an economic boon to the lesser developed lands because they now have the financial re- sources to speed up their in- dustrialization and compete with the older now high- in world mar- kets. These changes were gleaned from a survey of the interna- Campaign researcher quits job OTTAWA The man who directed the research behind the New Democratic Party's election campaign last fall has resigned from his a spokesman in party leader David Lewis' office said this week. He said Boris Calovsky. submitted his resignation as NDP caucus research director about six weekks ago and that it was effective Aug. 1. Earnings up CALGARY Voyageur Petroleums Ltd. earned 059 during the three months ended June up from in the same period a year earl- ier. The .equivalent to 6.9 cents a share compared with I 6.05 were on a gross rev- enue of which increas- ed from TSE prices dip in light trade TORONTO Prices on the Toronto stock market were fractionally lower in light mid- morning trading today. The industrial consid- ered the major indicator of market was off .15 to 216.45 and base metals .46 to 102.96. Golds were up .37 to 255.76 and western oils .63 to 249.72. Volume by 11 a.m. was 000 the same as the 11 a.m. volume Tuesday. Declines more than doubled 127 to with 178 is- sues unchanged. industrial min- ing and oil refining stocks were among declining market sectors while bankiing issues were higher. Stelco fell 74 to Lincoln Trust to Massey-Fergu- Livestock Calgary livestock CALGARY Receipts to 11 a.m. today from the Cal- gary public stockyards showed sales of head of carry- over mostly slaughter steers and heifers. Trade was fairly active under unsettled conditions with buyers being cautious. Slaughter steers sold lower with sales to Heif- ers were arcund lower than Monday's prices. Cows sold a full lower. Bulls were steady. 50.50 to 52.60. 48 to 50.50. 50 to 51.30. 48 to 49.50. 39 to 41. 36 to 38. 32 to 35. 48 to 52.50. Replacement cattle were scarce being mostly steers in the heavier weight range sell- ing to lower. American orders for feeder cattle were evident. There were no stock calves on offer. Good feeder steers more than. 750 48 to 52.50. Hogs fob Calgary to 11 a.m. 64.55. son to Walker-Gooder- ham A to and Inco Vs to Shell Canada rose to Pennington's to Now- sco Wells to Computel to and T. G. Bright A Vt to Sherritt Gordon lost to Bankeno 20 cents to and Mindamar 20 cents to Campbell Red Lake gained to Scurry-Rainbow climbed to United Canso to and Pan Ocean Vi to Total Pete dropped 10 cents to and Canada Northwest 10 cents to MONTREAL All sec- tors except papers advanced in light trading on the Montreal stock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was compared with shares at the same time Tues- day. Industrials advanced .78 to the composite .63 to banks .44 to 262.02 and papers were unchanged at 130.37. On the Montreal Stock Ex- T D Realty In- vestments declined to Stelco to and Rio Al- gom Mines to while Un- ion Carbide rose to and Peoples Department Stores Vt to On the Canadian Stock Ex- Cabot Explorations fell two cjents to on a volume of shares traded. NEW YORK Stock market prices were up in dull trading today after two weeks of sliding prices. The Dow Jones average of 30 industrials at noon was up 2.11 at 872.82. Among Canadian issues on the New York Inco was unchanged at and Al- can at while Canadian Pacific fell V8 to and Dome Mines to Mclntyre was ahead to Massey-Ferguson to and Seagrams to Guaranteed Savings Certificate FARMERS MERCHANTS TRUST 309 7th St. S. Phone 328-5541 Miscellaneous quotations Montreal by Doherty. McCnaig LAST BID OR SALE a.m. a.m. 7.75 Amr Gr F 7.75 AGF Special CdT Invest 5.50 Col Mutual Cmr.w Inter Dollar Value MONTREAL U.S. dollar in terms of Canadian funds at noon Wednesday was up 1-10 at 31-50. Pound sterling down 59-100 at 91- 100. In New the Canadian dollar was down 1-10 at I9- 60. Pound sterling down 87-100 at 19-50. a.m. WESTERN OILS AND MINES Albany Oils Alta East Gas Alminex Asamera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Js Cdn Super Charter Chiertan Dome Pete Dynasty Fort Reliance Giant Mascot Granislc Gt Plains Gt Cdn Oil S Lochiel Lytton Min Notle Mines North Cdn Oils Numac Pancdn Peta Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Selbens Spooner Total Pete Ulster West Pete W. Decalta 1 09 8.00 6.90 Cygnus A Cyqnus B Falcon Copper F and M Trust Genstar 16.00 10 Global Comrr 4J 00 12.50 Home A 4700 Home B 44 00 770 Hud Bay Co 17.75 4.45 Hud Bay Oil 49 00 3.30 Hud Bay A Pfd 55.50 7.40 Hugh Russell 45 00 8.75 Husky Oil 24.75 .18 Husky B Pfd 41 00 Husky D War 855 400 Husky E War 10.50 11.75 Hys of Canada 4 30 35 Inter Prov Pipe 8.50 9.75 Iner Prov Sleel 13 25 26.50 Kaiser Res 3.25 3.10 Loblaw C Pfd 29.25 11.00 Msanasonics 9.00 3000 Pacific Pete 31.75 8.00 p West Air 9.75 257 Pe-Ben Olfield 7.75 2.25 Rainier Inc 5.00 1.14 Royal Trust 24.00 7.15 Comm Cap Corp 3 40 17.25 sandwell 15.00 Teledyne 16.00 West Cdn Seed 5.25 1.27 Westfield Min 1.30 .19 Weston A Pfd 60.00 -63 white Yukon 11.50 .41 31.25 5.34 2.73 F 5.03 5.57 5.81 6.37 14 65 1610 3.81 4.19 7.34 S 07 6.18 679 509 5.59 Beef Futures WINNIPEG- beef futures close Tuesday. Sep Nov Jan MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbroolc Ind Crowsnest Ind PIPE LINE STOCKS 19.62'A Alta Gas A 14.00 Alta Gas Pfd 71.00 Nat Gas 19.50 7.70 Inland Nat Gas 10.00 93 N and C Gas 9.75 6.00 N and C B Pfd 2200 5.80 Pacific Trans 11.75 Gaz Metro 4.30 Gaz Metro A 64.00 Trans Can Pipe 2800 Tr Can A Pfd 51.50 Tr Can B Pfd 39.25 Tr Can War WC Trans 17.87'A WC Trans War 3.50 13.50 22.75 14.50 2.80 24.50 29.00 MUTUAL FUNDS All Cdn Com 6.93 9.2S AH Cdn Dlvid 742 29.50 All Cdn Vent 3.67 Cmnw Lev Cmnw Vent Ccrp Invest Crop In St F Dreyfus F U S. 10 71 11 71 Great Pacific 4.72 5.16 Gr In Shares 344 3.79 Gr Equily 7.70 8.45 Invest Gr F 1249 1365 Invert Mutual 503 643 Mutual Ac 6.01 6 61_ Mutual Gr F 3 51 Nat Res 4.94 545 N W Cdn 6.25 N W Gr 4.89 539 Principal Gr 4.41 4.84 Royfund 6.72 7 Temp Gr 8.49 9.28 United Ac 5.14 565 Universal Ssv 7.86 8 64 Univest 5.98 6.57 Vanguard 6.33 694 CALGARY Acroll .58 Barons Oils .04 N Continental .02 Western Warner .35 VANCOUVER MINES Afton 9.50 Atlas Explor .45 1.37 1.80 .41 .28 .18 13 12.25 .10 .14 1.40 950 2B5 .27 1.90 1 33 .22 .95 1.15 Monday's tracts. Six con- tional agricultural situation made recently by correspond- etrts of the Nwr York Times. the Burvey discloses that the shortages of foodstuffs are the result of years of neglect of agriculture in most lands. EXAMPLES Japan and Brazil are note- worthy examples. Japan's poet- war economic- miracle largely came about because of her ability to 'secure ample basic such as from the huge American farm stockpiles of former and Washington was glad to get the business. These cheap In enabeld the Japanese to hold wages in line and indus- trialize rapidly as well as com- pete in the world markets. the size of has limited land for agricul- ture. the survey Japan is in shock because 90 per cent of her soybean for that came from this country is now in jeopardy. Japanese trade missions are busily scouring Latin Australia and other possible suppliers of pork and other foodstuffs. SURPLUSES GONE With world surpluses Japanese industrialists now face even greater pressures from labor for higher wages to cover soaring food costs there. The situation in typi- cal of the lesser developed is also showing pro- found changes. For most of her Brazil completed with other raw-materials producers in the world markets for cotton and lesser agricultural products. Except for the war these earnings barely covered essential imports of costlier manufactured goods. Efforts to diversify the Bra- zilian agricultural economy were often frustrated by the availability of cheap foreign wheat and other goods under various U.S. pro- grams during the surplus years. It took a bold farmer to invest in grain crops in Brazil then. Like most Latin the Brazilians depended on cash crops because growing food was even chancier. The traditional lament beard in the region was that its people were condemned to hewers of wood and drawers of for the industrialized lands. the survey every agricultural commodity pro- duced in Brazil and elsewhere in Latin' America is being snap- up by eager buyers. This set a new cycle in motion. The flood of earnings is pro- viding for with the financial resources to speed her industrialization. In the first five months of Brazilian exports jumped 42 per cent to almost bil- lion. Much of these earnings are being invested agricul- ture. The hardly heard of in Brazil three years is fast becoming a major crop. This year Brazil will harvest almost 6 million tons of pro- tein-rich soybeans and is al- ready the third largest pro- ducer after the U.S. and China. Brazil has become the world's biggest producer of cane with 6 million tons this and is struggling to meet the world demand for her cotton and oth- er crops. This had led to ser- ious shipping bottlenecks at all ports. The experience of Brazilian agriculture has encouraged oth- er Latin-American low-c o s t producers to invest in farming. many of Brazil's particularly Argen- appear to be still strug- gling with political experiments to the neglect of both industry and agriculture. Gold futures WINNIPEG U.S. _ Gold Winnipeg Commodity Exchange c 1 o se Tuesday. Oct 73 Jan 74 Apr 74 Jly 74 Oct Monday's 134 con- tracts. Grain prices WINNIPEG Trading was moderate but the market was sharply weaker at mid- session on the Winnipeg Com- modity Exchange today. Only one trading month barley showed a price increase. It rallied 20 cents since the opening and was at the maximum higher price level. All other barley and rye futures were 10 cents lower as liquidation pressure continued. Rapeseed continued lowar on international and commission house seU'jig that met with lit- tle buying interest. Oats futures were trading at or near the maximum lower level of eight cents. Tuesday's volume of trade was bushels of rye and bushels of rapeseed. Mid-session Rapeseed Sept. 20 lower Nov. 18 lower Jan. lower March 18 lower 7.29B. Rapeseed Thunder Oct. 20 lower Nov. 9 lower Dec. 3 lower May 20 lower 6.J5. Oct 8 lower 1.74 Dec. 8 lower 1.75 May 7 lower 1.76 July not open. Oct. 10 lower Dec. 10 lower 3.07 May 10 lower July 10 lower 3.25A. Grain quotes Tuesday High Low Close Rapeseed Vancouver Sep 737 757 753 Nov 758 728 750 Jan 756 716 746 Mar 754 714 747 Rapeseed Thunder Bay Oct Nov Dec May Oats Oct Dec May Jiy Barley Oct Dec May Jiy Rye Oct Dec May Jly 746 737 720 7.85 186 275 275 268 337 Va 344 706 706 690 183Vz 268 262 3171s 325 736 718 680 695 184'i 268 262 270 325 335 Dankoe Davenport Dally Varden Equitorial Res Gibraltar Lornex Primer Pyramid Silver Standard Valley Coppe' INDUSTRIALS Col Brew Key Industries Wardair OILS Prp Exnlcr 7.53 Plains Pete 8.07 Ponderay Explor Stampede Intl Res Toronto industrials By RlcBarflson Securities of LAST BID OR SALE a.m. a.m. Quotes' MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Bovls Brunswick C N West Land Canada Tung Casslar Central Pat Chimo Con west Cons Rambler Coin Lake Cochenour craigmont Dickenson Mine Denison Mines D'Eldona Dome Mines Discovery Mine East Malartic East Sullivan Falconbridge Frobex First Giant Y K Granduc Hoi linger Hudson Bay M-S Hydra Ex Iron Bay Jollet Quebec Kerr Addiosn Key Labradr Si Langls 1 Madsen R L Malartic G F Martin McNecly Maclntyri Meta Mldrim Intern Mogul Nu West New Athona New Calumet Noranda Nortngate Norlex Pine Point Placer Dev Pax Exp 1.25 Quebec Man Rayrock Radiore Rio Algom Roman Corp Sherritt Gordon Steep Rock Tek Corp Texmont Upper Canada West Mines W H Ccp Mines Wright Harg Willroy Windfall Yellow Bear Zenrnac 1.05 225 .41 1025 2.15 4.7S 7.75 2.55 11.00 1.01 1.11 5.10 360 .16 .91 7.65 3.15 3375 .43 8225 1.25 370 2.80 79.50 .30 .70 805 3.95 45.00 27.25 .17 3.60 2.M .23 12.75 .31 45.75 2.75 .C5 1.10 .94 .28 54.00 a.m. Glendale 2.50 Grt Cdn Oil 12 Gen Motors 1.25 Grt Lakes Pp 36 Gulf Oil da 28.25 Greyhound 8.85 Hawker Sid Hiram walker 1.61 Hur Erie 3.85 Imp Oil Imasca 2.B3 Int Nickel Int Pioe Inv Grp A Int Util Ind Accept 3.15 3.50 90 1.09 .14 3.90 .09 INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Jannock Agra Ind Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Val In Cable CAE Ind Cdn Brew Chemcell Col Cell Calgary Power Coron Credit C.W.N. Gas Pfd Cdn Ind Cdn Marconi Cdn Victors Chrysler C.P.R. .15 Comlnco 13.50 Cons Bath 8.75 Cons Gas .14 Dist Seagrams .26 Dom Bridge S3.Z5 Domtar 6.35 Dom Textile .33 Dom Stores 36.50 Dome Pete Kelly Doug A Laurentide Loab Loblaw A 12 TO Met Stores 21.75 MasSsy Fferg 1525 McMillan Bloe 12.25 Moore Corp Molsons A 9.75 Milsons B 40 87Vj Nachurs 17.50 North Cent 51.25 Pov.'er Corp 16.37V2 Pnce Co. 18.75 Rcthrpans 19.25 Shell CDA 33.25 Simp Sears 15.75 Steel of Cda Selkirk A 400 Texaco 4.60- Traders grp A 5.12Vi Trans Mtn Pp 23.00 Trans Cda Pp Union Carb 10.75 Union Gas 15.00 Union Oil 4 25 United Siscoe 20.50 Versatile Mfg 24 00 Westeel 16 Weston's B 3275 Woodward's A Cdn Seed 15.12V2 Zenith Elec 41.00 BANKS 37.50 Cdn Imo 22 Montreal 8.12V2 Nova Scotia 14.75 Roysl 3J.OO Tor Dsm 8.00 63 25 23 50 3oOO IB 75 4.45 5550 27.75 31.00 32.25 23.25 17.50 5.50 11 25 4.65 603 1825 21.62V2 32 25 51.00 24 62Vi 24.00 7.25 17.37' 2 2000 31.25 15.50 64.75 16.621-2 19.50 17.50 16.75 5.00 7.25 15.00 21.00 23.25 5.25 3.10 30.00 17.75 3350 35.00 33.62V2 New York stocks Amr T and T Anaconda Bern Steel Chrysler Comsat Dupont GM Gulf Int Harvester Copper Bj 47.50 21.25 49.00 165.00 63.00 22.62Vi 30.75 Richardson Socnritlei of Montgomery Ward 22 25 20 Golds 257.77 up 2 38 Scars 96.00 10 Base Met 103.05 off .37 Texas Gulf 25.0D 15 W Oils 249.41 up .52 Texas Co Volume WIckes Corp 4UCBArre Woolworth 20.62VjNEW YORK AVERAGES Westlnqhouse Elec 30 Indust 672.66 up 1 95 U.S. Steel 27.00 23 Rails 156.88 up .46 Gen Tel Elec 2929 15 Utilities 94.93 up .28 TORONTO AVERAGES 65 STocki 2M.61 up .66 20 Indust 216.31 olf Volume CABINET MEETING Lethbridge Tuesday September 18th 1973 Briefs and Delegations Invited The meeting in Lethbridge offers an opportunity for delegations from interested groups and associations to meet with and make their views known to a committee of members of the Provincial Cabinet. As notice of intent to present a written brief is required in order to schedule please by August 1973 Peter Jenner Executive Assistant to the Minister of Advanced Education Room 425 Legislative Building Alberta Liberia GOVERNMENT OF ALBERTA ;