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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 16, 1974, Lethbridge, Alberta Friday, August 16, 1974 THE LETHBRIDGE HERALD TSE industrial stocks bit higher in light trading TORONTO (CP) The To- ronto stock market's industrial index was fractionally higher in moderate mid-morning trading today. The index rose .05 to 179.38 and golds 1.15 to 521.24. Base metals fell .85 to 78.99 and western oils 1.51 to 168.85. Volume by 11 a.m. was 000 shares compared with shares at the same time Thursday. Declines outnumbered ad- vances 114 to 57 with 150 issues unchanged. Noranda A gained Vz to Vz, General Motors Vz to Northern Electric to Alcan to and Winnipeg grain WINNIPEG (CP) Raepseed prices were generally higher pn strong bidding at mid-session of the Winnipeg Commodity Exchange today. Flax was mostly steady to easier, corn and rye narrowly higher while feed wheat, oats and barley were dull. Volume of trade Thursday was 253.000 bushels of feed wheat, of oats, 3.942.000 of barley, of corn. 651.000 of rye. 84.000 of flax, 1.567.000 of rapeseed. MID-SESSION PRICES: Thunder Bay Rapeseed: Oct. !1 higher 8.32B. "NOV. unchanged 8.19: Dec. and May no prices: Vancouver Rapeseed- Sept. higher Nov. lO'-s higher Jan. lu'-z higher 8.43B; March 12 higher 8.30'.ZB. Flax. Oct. 3'2 lower 11.07A; Nov three lower 10.96A: Dec. five lower 10.72A; May four lower 10.65A. Feed Wheat: Oct. one higher 4.13; Dec.. May and July no prices. Corn: Dec. nine higher 3.79; March higher 3.79'jB; May six higher 3.81B. July no price. Barley: Oct. two higher 3.34A; Dec. 3'2 lower 3.23B; May and July no prices. Oats Oct. l'i higher 1.95A; Dec., May and July no prices. Rye Oct. 4'j higher 2 Dec. higher 2.82a'jB, May and July no prices. WINNIPEG (CPi Gram quotes Thursday basis Lakehead- High Low Close Flax Oct 1120 ino'z mo'z N'ov 1107 1099 1099 Dec 1080 1077 1077 Rapeseed Thunder Bay Oct 822 815 821 Nov 819 Dec 817 May 828 Rapeseed Vancouver Spt 875'2 858 862 Nov 855 837 841 Jan 846 832 832'2 Mar 832 818 818'-2 Corn Dec 378 370'2 370 Mar 378-1) 372i2 May 375 Jly 391 Rye Ort 290 285 285 Dec 286 280 280 May 293 285 285 Jlv' 282 TransCanada Pipelines to Moore lost V2 to Home Oil A Vz to Brascan A to Walker-Gooderham A to and BP Canada V4 to Mattagami was up to Pamour to and Dome Mines V4 to Brunswick Mining was down 15 cents to and Dynasty V8 to Western Decalta fell V4 to Lassiter five cents to 35 cents and Trans Can one cent to 78 cents. Market trends MONTREAL (CP) Prices were mixed in light trading on the Montreal Stock exchange today. Volume at a.m. was shares, compared with shares at the same time Thursday. Banks fell .61 to 227.25, utilities .28 to 126.69. and papers .18 to 118.23 while industrials rose .36 to 192.50 and the composite .13 to 183.32. Moore fell 2 to George Weston Ltd ''j to and Domtar Vj to while Westmill Carpets Ltd. rose3''4 to and Imperial Oil class "A" to Among speculative issues. Golden Briar Mines rose 15 cents to after trading 23.800 shares. VANCOUVER (CP) Prices were mixed in moderate trading Thursday on the Vancouver Stock Exchange. Closing volume was 1.852.397 shares. In the industrials. Cornat dropped 20 to on 3.900 shares. Block Bros, was up .05 at on 3.600 shares. Mercuria was unchanged at .10 on 3.000 .shares and PWA was unchanged at S13.37'2 on 2.150shares. Newrnark was down .02 at .85 and venture properties was unchanged at 25 In the Mines, Barrier Reef dropped .20 to SI.70 on shares. Arcadia was up 03'2 at .41 on shares. Grandora was up 02 at .25 on 146.800 shares and Cypress was down .11 at 50 In the Oils. Cop-Ex was down .01 at 28 on 37.000 shares. Payette was up .04 at 46 on 16.000 shares. Princess was unchanged at .23 on 13.500 shares and Delta Pete was unchanged at .12 on 11.000 shares. Payette Warrants A was unchanged at .03 and Plains Pete was unchanged at 13. On the curb exchange, total volume was 371.017. Santa Serita rose .05 to .70 on 78.500 shares. Yellowstone was up 03 at 68 on 72.000 shares. Brent was up Livestock Calgary Chicago markets CHICAGO lAPi Farm commodity luturcs in the United States suffered substantial losses Thursday on the Chicago Board of Trade in profit moves after previous session's gains Grain stocks tumbled to some limit losses in erratic trading. Mosl livestock futures fell the limit as did pork belly contracts. Egg lutures held steady to 90 points lower New York and Chicago silver dipped sharply in prolil taking and copper closed 10 higher to 230 lower. Wool futures gained two to 2.5 cents, but cotton. Maine potatoes, sugar and coffer fell in Thursday's trading Coma closed unchanged to 90 points higher and frozen concentrate orange juice futures were mixed. Corn opened strongly but closed five to cents a bushel lower. Both corn and soybeans had advanced in the two previous sessions after U S government predictions ot sharply reduced crops because of midwest drought conditions. Wheat followed the downward trend and sultered losses ol eight to 18 cents a bushel At the close, soybeans were 30 cents lower. Aug. 7 80; Chicago Wheat tell eight to 18 cents. Sept. 4.29. Gulf Wheat was not traded: corn was five to lower. Sept 3.57 and oats were six cents lower. Sept. 1.68'i Wheat Sept 429: Dec 4.43, Mar 4.56. May 4.54: Jul 4.34. Corn: Sep 3.57. Dec 3 52: Mar 3.54: May 3 54: Jul 352': Oats Sep 168'i; Dec 1.76-'j. Mar 1.82. Mav 1.83. CALGARY (CP) Friday's receipts to 11 a.m. at the Calgary Public Stockyards totalled about 650 head, mostly slaughter cows with replacements lacking quality. Trade was moderately active. No top-quality steers were on offer. The few heifers on offer sold in line with Thursday's prices. Cows were mostly in the lower grades with all grades selling steady with Thursday's close Thursday closing prices Steers Al-2 50-53. heifers Al-2 40-44; cows Dl-2 26- 27 40. D3 22-25.50. D4 17-21: bulls 27-30. Good replacement cattle were in short supply, being mostly short feeder steers, selling at the week's decline of Plainer-quality replacements were difficult lo sell There were no good stock calves on offer. Good feeder steers over 750 Ibs.. 34- X common 23-33. Hogs average base price. 40-49.65. Treasury bills OTTAWA (CPI New 91-day treasury bills issued Thursday: million at an average price of 97.794 and an average yield of 9.05 per cent Last week- million at average price ol 97 781 and average yield of 9.10 per cent 182-day million at an average price ol and average yield of 9.11 per cent Last week. million at average price ol 95 till and average yield ol 9 21 per cent Hog prices EDMONTON (CP) Prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board Thursday's prices in brackets. Edmonton: 49.75 Calgary: 49.65 (48.86) Red Deer: 49.65 (48.901. Lloydminster Nil (48.101. Lethbridge. Nil Fort Macieod- Nil Hogs sold to 11 a.m. hogs sold average 48.81. Sows average 2520. Currencies MONTREAL (CP) Friday's mid- day foreign exchange selling rates supplied by the Bank of Montreal: Australia dollar 1.4700 China renminbi .5110 France franc .2100 Germany mark .3870 India rupee .1270 Italy lira .001545 .Japan yen .003280 Mexico peso 0795 Norway kroner .1850 South Africa rand 1.4546 Spain peseta 0175 Switzerland franc 3325 United States dollar .9800 United Kingdom pound 2.32 U S.S.R ruble 1.309 Venezuela Bolivar free .228 Quotations in Canadian funds. Metals Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was up 7-50 at 21-25. Pound sterling was down 1 1-100 at 9-100. In New York, the Canadian dollar was down 3-20 at 15. Pound sterling was down 7-20 at 3- 20 LONDON (API Closing metals bid-ask in pounds sterling a metric ton; silver in pence a troy ounce: 781-783: futures 800-801 futures 3.640- 3.645 236-237; futures 233.5-234 455-457. futures 463-464 The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED 03 at .46 on shares and Swim Lake was up .02 at .25 on 20.000 shares. Jet was unchanged at 10 and Starbird was unchanged at .10 NEW YORK (AP) The stock market headed lower today in slow trading. The Dow Jones industrial average was down 2.66 at 735.22 at noon after having been up about 3 points in early trading Advances continued to lead declines, but the margin narrowed to a slight difference. Trading was dull. On the New York Stock Exchange 'NYSEI, Fleming Co. was the most- active stock, unchanged at 95's. Diebold. Inc.. a business equipment manufacturer, plunged to boosted high onto the active list by a 62.900-share block trade at 17. The Southern Co. was unchanged at 11. with a block of 30.000 shares traded at 11. Reliance Group bounded 1% to boosted by block trades, and Atlantic Richfield skidded 1'i to with a 32.200-share block at 81'2. Other volume movers included Eastman Kodak, down to Weyerhaeuser, off 1 to and National Semiconductor, which soared to Gold-mining issues were higher as the price of gold increased on most foreign markets. Homestake Mines jumped I'M to 66'2 and Campbell Red Lakes added to 45'. The NYSE broad-based composite index was down .06 at 40.00 at noon. Canadians on the New York exchange were generally lower. Seagrams was the loner gainer at 30' 2, up i Losers were Alcan at 'i: Canadian Pacific 13'z. down Dome Mining 61Ji. down and Hi- ram Walker 41'z. down 34. WESTERN Oilfield Serv 4.70 AND Inc 2.62% Alton Trust 19.62% Albany 5.75 Alta East 4.05 4.30 Min .85 Ashland A Pfd 48.87% BP Yukon 6.50 Brenda STOCKS Cda Gas Trk A 11.75 Cdn Ex Gas Trk Pfd 54.00 Cdrt Nat Gas 18.00 Cdn Ind Gas Metro 5.62% Cdn Long Metro A Pfd 55.00 Cdn Nat Gas 13.00 Chieftan and C Gas 10.00 Dome and C Gas B Pfd 19.50 Gas Trans 8.37% Fort Pipe 9.50 Giant A Pfd 52.00 Gibraltar Pipe B Pfd 30.87% Pipe War .90 Gt Trans 18.87% Gt Cdn Oil Trans War 2.15 Lochiel Lytton .32 North Cdn Oil .6V, Numac Oil Continental .02 Pancdn Warner .28 Pan Norsemines .96 Place Resources .70 2.60 Ranger .61 Scurry 7.25 Mines 1.80 .04 Total .07 Ulster Standard 1.31 United Copper 5.90 Westcoast West Industries .06 1.50 Acres Petroleum .25 Pete .13 BC Sugar C Int'l Res .62 Block FUNDS Canbra Cdn. Compound 5.17 5.62 Cdn Pac Inv A Cdn. Dividend 5.39 5.86 Cdn Pac Cdn Ventures 2.58 2.70 Carting O'Keefe A Growth Fund 3.74 4.11 Carting O'Keefe B Special 1.87 Comm Cap Invest Fund 4.18 4.59 Crestbrook Comnwlth 1 1 .64 Crowsnest Leverage 2.71 Falcon Int'l Venture 4.93 F and M Trust Investors 5.41 5.95 Invest Stock Fund 3.99 4.38 Home Oil Fund U.S. 8.15 8.93 Home Oil In Shares 2.61 Hud Bay Equity 5.84 6.42 Hud Bay Growth Fund 10.3011.26 Hugh Russeil C Mutual 4.89 5.34 Husky Accum 5.41 5.95 Husky Oil B Resources 3.95 4.34 Husky Oil E Cdn. 4.77 5.24 Interprov Pipe Growth 3.73 4.10 Interprov Steel Growth 3.68 4.04 Kaiser Mutual 6.35 6.94 Kaiser Res 4.99 5.20 Loblaw Co C Growth 6.62 7.26 Accum 3.83 4.21 Pacific Pete Pac West Savings 7.02 7.73 Vanguard 4.38 Toronto mines, industrials (Supplied by Richardson Securities ot Canada) 195.5 188-189. 3 montlis 195- Dividends Feed prices WINNIPEG (CPi Wheat Board domestic feed grain prices: 3CW Red .No 1 Spring Wheat 4.12: No. 1 Feed Oats 1 93s i: No. I Feed Barlev 3.32. GULF OIL CANADA LTD. Requires SERVICE STATION OPERATOR (Lessee) For excellent highway location combination service Write Box 88, Lethbridge Herald CHARTERED ACCOUNTANT Sole practitioner in Southern Alberta community re- quires the services of a Chartered Accountant. Partner- ship opportunity available. Student having completed course of Studies and due to graduate also considered. Send particulars to: DONALD J.JESS Chartered Accountant P.O. Box 1090, Claresholm, Alberta. TOL oTo By THE CANADIAN PRESS Corporation dividends, quarterly unless otherwise noted. Canadian Tire Corp. Ltd., eight cents, class A. eight rents, an increase of one cent, both payable Sept. 1. record Aug. 21 Carling O'Keefe Ltd., pfd.. series A. 55 cents; pfd. series B. 66' i cents, both payable Oct 1. record Aug. 30. Dominion Stores Ltd., 18 cents. Sept. 16. record Aug. 23 Drummond, McCall and Co. Ltd., class A, 22 cents, an increase of four cents; class B. 18 7 cents, an increase of 34 cents, both payable Sept 25. record Sept. 10. Dylex Ltd., three cents; class A pfd.. throe cents, lone cent plus two cents both payable Sept. 4, record Aug. 19. Emco Ltd., six cents. Oct. 31. record Sept. 20. Fruehauf Trailer Co. of Canada .Ltd., .20 cents, semi-annually. Sept. 19. record Aug. 27 Gordon Mackay and Stores Ltd., class A. I2'z cents, Sept. 16. record Aug .10. Grafton-Fraser .Ltd., .6-percent pfd :tfl cents. Sept. 13. record Aug 30. Grafton Group Ltd., 12 cents. Sept. record Aug. 30. Keeprite Products Ltd., class A. 7.5 cents: class C, 6.375 cents; both payable Sept 30 record Sept. 16. Matlagami Lake Mines Ltd.. 40 cents, interim, an increase of 20 cents, i first paid following stock Sept. 16. record Aug. 23. Beef futures WINNIPKG KTi Live beef futures. Sopt. 50.50N; Nov 50 SON. .Ian 50.00N. Wednesday's volume (No contracts. Forest Advocate Sugar Valley Ind Ind Power Foods Cellulose Can. NW O'Keefe Canada 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 Hollmger Lakes Paper Hudson Bay Oil Hydra Iron Sid Walker A Joliet Erie Kerr Oil A Key A Nickel Lake Pipe Langis Grp A Madsen Int'l Malartic Martin Douglas A Intern NuWest A New Athona New Massey Ferg Bloed Corp A Pine B Placer Pax Cent Quebec Corp Co Rio Roman CDA Sherritt Gordon Steep Rock 1.35 Simp Sears Steel Can A Tek Corp. A United Grp A Western Mtn Pipe W Copper Can Pipe Wright Carbide Gas Oil Yellowknife Siscoe Mfg A Algoma Atco Imperial Agra Bell Scotia Brascan BC Dom 10.37V, 19.62V, 14.75 12.37V, 22.00 2.70 5.12V, 2.41 5.50 3.35 8.50 2.95 15.25 13.75 13.25 29.12V, 27.50 14.25 29.75 42.25 14.00 23.75 28.00 3.05 40.25 19.62V, 26.87V2 16.00 39.75 20.00 28.75 24.25 26.00 13.50 6.25 11.75 14.75 5.75 2.50 4.85 7.25 2.90 6.75 9.25 25.37V2 44.25 9.87V, 3.90 13.75 12.25 13.75 10.75 30.00 11.00 34.50 9.62V, 13.75 9.25 7.75 8.12V2 4.30 5.25 21.00 24.75 22.75 14.50 33.75 28.62V, 34.75 New York (Supplied by Richardson Securities of Canada) Amr. T T Woolworth Anaconda Westinghouse Elec 12.25 Beth Steel 30.00 U.S. Steel Chrysler 14 00 Gen Tel Elec 20.00 Comsat 26.00 TORONTO AVERAGES Dupont 20 Industrials 178.88 down .45 General Motors 41 25 20 Golds 528.56 up 8.47 Gulf 19.25 10 Base Metals 79.75 down .09 Int Harvester 15 Western Oils 168.32 down 2.04 Kenn Copper Volume Montgomery Ward NEW YORK AVERAGES Sears 65.00 20 Industrials 735.22 down 2 66 Exxon 20 Rails 153.36 down .50 Texas Gulf 15 Utilities 67.29 up .28 Texas Co 24.75 65 Stocks 224.89 down .55 Wix Corporation 11.50 Volume Coal gasification plants may bolster gas supplies OTTAWA Canada would need six coal gasification plants, turning low-grade western coal into high-grade synthetic natural gas, in operation by 1987 to produce enough gas to make up the domestic gas shortage predicted for 1987 by Canadian Arctic Gas PipeLine Ltd., proponent of a Mackenzie Valley gas pipeline. The half dozen plants, which might cost billion, could be built with existing technology, especially if Canada gets re- search underway quickly, ac- cording to an energy study by four graduate students from the environment studies faculty of York University. The study, being distributed nationally this week, calls for a delay in the Mackenzie Valley gas pipeline proposal and the substitution of coal gasification plants to tide Canada over expected shortages of gas. at least during the late 1980s and early 1900s. The study, which is being re- leased coincidentally at the time when TransCanada Pipe- lines Ltd. of Toronto is propos- ing an million research pro- gram leading to the construc- tion of Canada's first coal gasification plant in western Canada by 1980-81, cites several major advantages of coal gasification plants over an Arctic gas pipeline. The main advantage is that coal gasification plants could be brought on-stream in- crementally, to pick up natural gas supply deficits expected to start appearing in 1980. "Capital intensive projects such as the Mackenzie Valley pipeline, in order to be finan- cially viable and to minimize per unit energy costs, must operate with a maximum throughout which exceeds Canadian demand and must be absorbed by a single. North American market." In addition, the coal deposits and therefore the sites for coal gasification plants would be in Alberta and sub- bituminous and lignite coals which would be strip- situated near con- ventional natural gas reserves in western Canada. Therefore the existing gas distribution system, namely the TransCanada facility, could be used, at minimal hook-up costs. Coal gasification "would un- doubtedly be attractive to Al- berta and Saskatchewan in that it would afford the opportunity for more flexible resource management geared to conserving depleting reserves of natural gas or 'liberating' natural gas for enlarged petrochemical in- the study says. On the negative side, the study notes there would be significant environmental problems that would have to be overcome with the coal gasification technology as well as with the strip mining associated with it. And the study notes that Ca- nadian coal production would have to be expanded rapidly to meet coal gasification obliga- tions by the 1980s. It concludes that a West German gasification process (the "Lurgi" combined with methanation to upgrade the BTU value of the synthetic gas. has already been proven commercially feasible. In the process, oxygen and steam are added to coal to produce a crude gas which is then upgraded to a synthetic gas. B. C. farm income said up 50% VANCOUVER (CP) The Province says the more than farmers in British Columbia earned almost 50 per cent more in 1973 than they did the previous year. The morning newspaper says the provincial department of agriculture annual report, to be released next week, shows. 1973 net income for farmers in B.C. of million. The newspaper says the report does not include net income figures for 1972, but recent revised Statistics Canada figures show net income for B.C. farmers in 1973 of million, compared with million for 1972, an increase of just under 50 per cent. Wet and cooler Near-normal temperature readings are expected for the Maritimes, B.C. and the Prairies, with Ontario and Quebec expected to receive below-normal read- ings for the last two weeks of August according to the long-range forecast of the United States Weather Bureau. Precipitation is expected to be above-normal for most of the country excluding the northern prairies. This is not a specific forecast and changes may occur. Reconsideration sought of air route allocation VANCOUVER (CP) CP Air President John C. Gilmer said Thursday he is asking Transport Minister Jean Marchand to reconsider Canadian-United States route awards that Mr. Gilmer considered top heavy in favor of Air Canada. Mr. Marchand announced on Aug. 1 that CP Air would be given the Vancouver-Los Angeles route. Air Canada was given 12 of the transborder routes established by the Canada- U.S. bilateral air agreement while regional airlines got two routes. At the same time, Mr. Gilmer voiced confidence in the continued growth of CP Air despite this. THE FINEST RETIREMENT AND RECREATIONAL COMMUNITY Blind Bay, between Calgary and Vancouver via Trans-Canada Mall m Brochure NAME...... ADDRESS PHONE SERVING ALBERTA SINCE 1905 First Mortgage Loan Company Assets million Capital and reserves million 3 5 year debentures Interest payable semi-annually MINIMUM AMOUNT Rates subject to change Credit Foncier 640 6th Avenue S.W. Calgary, Alberta T2P OS4 (403) 262-3356 10275 Jaspar Ave. Edmonton, Alberta T5J 1Y3 (403) 422-1145 Member Canada Deposit Insurance Corporation Please send me your brochure and rate card for 1 to 5 years debentures with no obligations on my part. Name Address ;