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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 20, 1974, Lethbridge, Alberta LETHBRIDGE August TSE prices sharply higher TORONTO (CP) Prices on the Toronto stock market were sharply higher in light midmormng trading today The industrial index, widely-based indicator of market trend, rose 95 to 177 49 and western oils 1 11 to 163 78 Golds fell 4 61 to 509 04 and base metals 62 to 77 23 Volume bv 11 a m was 000 shares compared with 312 000 shares at the same time Monday Declines outnumbered ad- vances 127 to 89 with 169 issues unchanged Inco gained to Home Oil A 5'8 to Bow Valley to to, Bank of Nova Scotia vz to Vz and Alcan Vz to Vz Reader's Digest lost to Canadian Cablesystems to and Weidwood Canada to Madeleine was up 10 cents to 60, Calmor Iron Bay five cents to 76 cents and Granduc five cents to Rio Algom fell V8 to and Bankeno 10 cents to 40 Pan Ocean rose to United Canso '4 to and To- tal Pete to Alberta Eastern Gas was up 15 cents to 35 and Oakwood five cents to 85 cents Market trends MONTREAL iCPi Prices were genenjlh higher in moderate trading on the Montreal Stock Exchange Volume at 11 it) am was 462800 shares compared with 223 500 shares at the same time Banks rose 1 41 to 222 8t> utilities 47 to 90 the composite 4b to 181 23 papers 42 to 117 74 and industrials 33 to 190 35 International Nickel rose to Bell Canada to Domtar to and Moore '4 to while Toronto Dominion Bank fell to speculative issues Golden Briar Mine rose nine cents to 25 alter trading Jl 800 shares VANCOUVER (CP> Prices were down on moderate trading on the Vancouver Stock Exchange todav First hour volume was 428 shares In the industrials hDP industries unchanged at 07 on 1 000 shares In the mines Carohn was up 08 at SI bO on 20 500 shares In the oils Earlcrest was unchanged at Oi on 11 000 shares On the curb exchange volume was 19 200 shares Thore was up 01 at 82 on 10 000 shares NEW lAP) The stock market struggled to break even todav after a brief technical rally as the opening collapsed The Dow Jones average of 30 industrials which had climbed more than 10 points in the earlv going was unchanged at 721 84 bv noon Gainers clung to a modest lead over losers on the New York Stock Exchange Anahsts said the bearish investors who had been moving steadilv out of stocks over the last eight sessions appeared to seize on the earlv upswing as an opportunitv to lighten their positions further Clorox was the most active NYSE issue up at On the American Stock Exchange the market value index was down 23 at 74 55 The NY SF s broad based composite index was off at J9 10 The sharp swings of the session snowed up most noticeablv in manv of the glamor stocks which had fallen steeplv over the last several davs Lpjohn gained several points in the first few minutes but was down 1 at SbO'i bv noon Xerox traded as nigh as then fell back to Among other institutional favorites Avon ProducLs was down A4 at Eastman Kodak 14 to and Digital Equipment at SSl'j International Mining which reported a second quarter loss tumbled 2'4 to The volume leader was Svntex unchanged at Among Canadian issues on the NVSE Alcan rose B to Canadian Pacific'B to Inco and Massev herguson to Dome Mines fell to Calgary Livestock tP Receipts to 11 a m lodai from the Calgarv Public Stoikvards totalled 850 head mostlv slaughter cattle Trade was active Slaughter steers sold steadv Steers under 1 000 pounds were discounted to irgm bulls sold under pressure at discounts ol to Heifeis were around higher Cows sold to 50 lower Steers Al Heifers Al A2 (ows D2 242550 D3 212350 Ib20 There were insufficient replacements sold earlv to establish a market l-Oli to 11 a m Hog prices DMON PON iCPi Receipts to 11 am at the Edmonton Public totalled 850 cattle and calves 225 hogs and 53 sheep Mondav receip'sirVt cattle and calves 649 hogs and 25 shtep Steers Al 2 45 48 Heifers Al 2 37 50- 40 DO ows Dl 2 22 24 50 21 22 D4 19 21 C-ood bulls 2s 27 There were no hogs sold to 11 a m Winnipeg grain WINNIPEG (CP) Rapeseed at the position continued to decline in light activity at the open of trading today on the Winnipeg Com modity Exchange with prices off from 51! to 8'4 cents There was no interest in Thunder Bay rapeseed Other opening prices were within a cent of previous closing levels Opening prices Rapeseed Thunder Bav Oct Nov Dec and Mav not open Rapeseed Vancouver Sept and not open Jan lower 8 35 Mar 8'4 lower 8 14 Flax Oct Nov Dec and May not open Feed wheat Oct 1 higher 4 20 Dec Mav and July not open Corn Dec Mar May and July not open Barley Oct lower 3 28' z Dec higher 3 19 May and July not open Oats Oct unchanged 193'-2 Dec May and July not open Rve Oct unchanged 2 78 Dec un changed 2 71J4 Mav and Julv not open Cash prices Monday Oats 2CW195''z Ex3CWand3CW 1 Exlfeedl93'2 Ifeedl92'z 2 mixed7500a ton Barlev 1 CW b-row and 1 CW 2 row and 2 CW 2 row and 2 CW 6-row 3 50 1 feed 3 26 2 feed 3 24 3 feed 3 21 Rve 1 and 2 CW 2 3 CW 2 4 CW 2 53 ergoty 2 48 Flax ICW1114 2CW1108 3 CW 1074 Thunder Bay rapeseed 1 Cdn 8 34 No 2 Cdn 8 12 Corn 2 CW vellow 4 00 3 CW yellow 3.97 Feed Wheat 3 red spring 4 14 3 utihtv 4 10 Export wheat prices Thunder Bay 1 CW 13 5 PCT protein 5 11 5 PCT 4 S2Va 2 CW T 5 PCT 4 11 5 PCT 4 S8'i 3 CW 4 1 Durum 6 2 durum 6 3 Durum 6 81 Mi 4 Durum Chicago markets HICAGO (API Several waves of selling pressure in the closing minutes produced limit declines in some new crop and soybean oil options on the Board of Trade Monday Soybean meal fell about a ton The late weakness in the sovbean complex tended to influence selling in wheat corn and oats The selling in soybeans and oil appeared to come from the local speculative element after commercial interests had apparently set the OPENING SOON! in CENTflE VILLAGE MALL pattern for lower prices earlier in the session As local professionals began st llmg out their positions in nearby op- tions the new crop options began to weaken Most earlv selling was active in the old i rop months August options in the soybean complex expire Wednesdav There appeared to be no particular outside reason for the selling other than profit taking and liquidation ahead of expiration of contracts I.ale weakness in corn and oats appean rt to have been intluenced to a degree bv some trade reports that some beneficial had fallen over sec lions of the Midwest Grain quotations Monday Wheat Sep 4 30 Dec 4 46 Mar 4 55 May 4 48 Jul 4 22 Wheat gulf hard red Sep 4 35'-z Dec 452 Mar 465'; May 455 Corn Sep 3 65 Dec 3 59 Mar 3 63 3 b4 lul 3 64 SCRAPER PLANT FOR SALE IN B.C. 4-Cat with lots of work in an established territory. Exceptionally pro- fitable. Ideal for a Cat owner to expand his business Only Will consider real estate and cash Box 91, Herald Tlie Herald Business Stocks Miscellaneous Vancouver, Calgary, MIDLAND DOHERTY WESTERN Oilfield 4 65 AND Inc 2 (ton Trust Ibany 5 75 Ita East 415 415 Mm 80 shland A Pfd 48 00 P Yukon 6 50 renda STOCKS da Gas A 1200 dn Export Gas Pfd 54 00 dn Nat Gas 18 00 dn Ind Metro 5 75 dn Long Metro A 56 00 dn Nat Gas 1250 hiettan Gas 9 87V- ome C B Pfd 1937% Gas Trans 8 37Vi ufort Pipe 9 37' a lant Cda Pipe A 52 00 ibraltar B 30 50 Pipe War 83 real Trans 1875 rt Cdn Trans War 2 00 ochiel ytton 30 orth Cdn Oil Jumac Continental 02 anCdn Warner 29 an Norsemmes 90 lace Resources 70 2 50 anger 51 currv 7 00 Mines 1 73 04 otal 08 Ister Standard 1 19 nited Copper 5 90 test test Industries 05 1 85 Petroleum 24 Pete 13 cres Int I Hes 62 FUNDS C Sugar Cdn Compound 5 09 5 54 ock Cdn Dividend 5 32 5 78 anbra Cdn Ventures 2 54 2 76 -In Pac A Growth Fund 3 72 4 09 dn Pac Special 1 87 arlmg A Invest Fund 411 451 arhng B Common 11 51 om Leverage 2 68 rest Int I Venture 4 93 alcon Investors 541 595 M Invest Stock Fund 3 98 4 37 Fund US 8 10 8 88 ome Oil Pacific 3 97 4 34 ome Oil Income Shares 2 58 ud Bay Equity 5 84 6 42 Lid Bay Growth Fund 10 19 1113 ugh Russell Mutual 4 84 5 2S usky Accumulating 5 31 5 84 usky Oil B Resources 3 86 4 24 usky Oil E W Cdn 467 5 13 ter Pipe W Growth 365 401 ter S Growth 3 57 3 92 aiser Mutual 6 29 6 88 aiser Res 500 521 jblaw C Growth 6 62 7 25 Accum 377 414 acific Savings 6 97 3C West 4 36 4 78 Toronto mines, industrials (Supplied by Richardson Securities ot Canada) MINES Acme 08V4 Advocate Asb 1 35 Akaitcho 1 75 Bralorne 1 31 Broulan 55 Bethlehem A 1062V4 Bovis 1 40 Brunswick 3 90 Can NW Land 3 15 Canada Tung 4 40 Cassiar 6 25 Central Pat 95 Chimo 1 12 Conwest 3 35 Cons Rambler 2 81 Com Lake 19 Cochenour 1 44 Craigmont 4 45 Dickenson Mines 9 25 Denison Mines 42 75 DEIdona 35 Dome Mines 58 50 Discovery Mines 1 65 East Malartic 5 62Vi East Sullivan 2 51 Falconbridge 36 00 Frobex 17 First Mantimes 42 Giant Y K 1250 Granduc 1 92 Hollmger A 26 25 Hudson Bay A 18 00 Hydra Ex 70 Iron Bay 5 00 ISO 1 15 Joliet Quebec 21 Kerr Addison 1225 Key Anacon 27 Labrador 29 25 Lake Shore 6 00 Langis Silver 10 Madsen R L 1 38 Malartic G F 1 60 Martin McNeely Maclntyre 27 75 Meta 13 Midrim 15Vj Intern Mogul 5 00 NuWest Homes 5 75 New Athona 22 New Calumet 26 Noranda 37 75 Northgate 4 75 Norlex 25 Pine Point 31 12V4 Placer Dev 18 00 Pax Exp 1 51 Quebec Man 15 Rayrock 90 Radiore 21 Rio Algom 28 37Vz Roman Corp 8 75 Sherritt Gordon 8 75 Steep Rock 1 27 Sunnmgdale 5 00 Tek Corp A 2 85 Texmont 16 United Canso 9 87VZ Western Mines 2 37 WH Copper Mines 3 25 Wright Hargreaves 2 35 Willroy 1 90 Windfall 11 Yellowkmfe Bear 2 65 Zenmac INDUSTRIALS Abitibi 11 62 Alcan 29 00 Algoma Steel 27 12 Atco Ind 13 00 Agra Ind 4 90 Bell Tel 43 37 V, Brascan A 13 BC Tel 50 00 Burns 1050 BC Forest 1212% BC Sugar 19 Bow Valley Ind 14 25 Cable 1175 CAE Ind 7 75 Cal Power 22 00 Canbra Foods 2 70 Can Cellulose 4 90 Carting O Keete 2 38 Chemcell 5 50 Coron Credit 3 35 CWN Gas Pfd 8 00 Cdn Ind 22 00 Cdn Marconi 2 90 Cdn Vickers 14 75 Chrylser 13 50 CPR 1212V4 Cominco 27 25 Cons Bathurst 27 25 Gas 14 25 Dist Seagrams 29 25 Dom Bridge 40 Domtar 24 Dom Textile 9 00 Dom Stores 1375 Dome Pete 22 75 Dofasco 27 Glen Mobile 2 95 Grt Cdn Oil 5 Gen Motors 39 50 Grt Lakes Paper Gulf Oil 26 50 Greyhound 1550 Hawker Sid 5 50 Hiram Walker A 38 75 Huron Erie 19 25 Imperial Oil A 2875 Imasca A 23 75 Int Nickel 25 37Vz Int Pipe 13 Inv Grp A 6 00 ILJ Int I 11 IAC Ltd 14 Jannock 5 50 Kaps 217 Kel Douglas A 4 70 Laurentide 712V4 !_oeb 2 80 Loblaw A 6 75 Metropolitan 8 25 Massey Ferg 14 McMHI Bleed 24 75 Moore Corp 44 75 Molsons A Molsons A 19 12Vi Nachurs 4 75 North Cent 9 Peylo 3 35 Power Corp Price Co Rotfimans 11 50 Shell CDA 13 Simpsons 6 75 Simp Sears 10 Steel Can A 29 Selkirk A 11 00 Texaco 33 00 Trad Grp A 9 Trans Mtn Pipe 1300 Trans Can Pipe 9 00 Union Carbide 1962'j Union Gas 7 Union Oil 7 87'4 United Siscoe 4 00 Versatile Mfg 4 85 Webteel 19 50 Westons 24 25 Woodwards A 22 00 BANKS Can imperial 22 25 14 62 i Nova Scotia 31 75 Royal 28 25 Tor Dom 34 50 New York (Supplied bv Richardson Securities of Canada) Amr T T 4237% Woolworth 1225 Anaconda 2250 Westmghouse Elec Beth 30 US Steel 44 75 Chrysler 1387W Gen Tel Elec 1987V4 Comsat 26 TORONTO AVERAGES Dupont 13550 00 Industrials 176 81 up 27 General Motors 40 62 i Golds 506 66 down 6 99 Gulf 1900 10 se Metals 77 01 down 84 Int Harvester 15 W tern Oils 16298 up 31 Kenn Copper 32 25 Volum 687 000 Montgomery Ward 25 NEW YORK AVERAGES Sears 64 37Vi 20 Industrials 721 29 down 54 Exxon ?0 Rails 150 45 up 58 Texas Gulf 27 15 Jl lilies 6665 up 44 Texas Co 2475 63 itocks 22092 up 32 Wlx Corpn 11 Volurre o 650 000 Currency computer A cierk operates a calculator installed by Barclay's Bank at Heathrow Airport in London to provide fast currency exchange. The computers are capable of deal- ing with more than 100 currencies and 15 types of travellers' cheques OUNCE GOLD BARS FOR SALE VANCOUVER (CP) A local investment company begins to accept orders for one ounce gold bars Monday, giving the small investor another way of combatting inflation Joseph Kolton manager for Zantrex Investment Corp said the company will initially release 200 ounces of gold bullion in one-ounce quantities to test demand for the small bars Mr Kolton said the demand is expected to be quite good He said the gold will be sold about ten per cent above the fluctuating market price because of the costs involved in minting smaller quantities Cement produce capacity behind EDMONTON (CP) An unforeseen demand for cement in Alberta has put the province s two major producers at least one year behind in creating plant capaciu to fill the needs of the construction industry, a cement industry spokesman said Monday W S Bannister, president of Inland Cement Industries, says his company and Canada Cement Lefarge "badly miscalculated the rate of growth of the market in Alberta Because of the industry's nature no immediate increases in production are Ottawa streamlines egg market method OTTAWA (CP) The federal and provincial governments will streamline egg marketing operations in an attempt to "restore order" to national egg markets, Agriculture Minister Eugene Whelan said Monday Both levels of government have agreed to centralize marketing authority to produce better management ot the national egg marketing plan, Mr Whelan said in a prepared statement He said the outlines of the agreement were settled at a July 26 federal-provincial agriculture ministers' meeting in Winnipeg He said the approach, which was not spelled out in detail, includes both long-term and interim measures to improve the administration and operation of the national egg production and marketing system run by the Canadian Empress staff votes on strike VICTORIA (CP) Empress Hotel employees will take a strike vote Wednesday in support of un- disclosed contract demands made to CP Hotels A spokesman for the tran- sport workers union hotel division said 350-400 employees of The Empress would be eligible to vote He said negotiations had been carried on over the past six to eight weeks and would not confirm a report that staff were seeking a raise There had been an under- taking not to discuss contract negotiations publicly, he said Foil jobs fold up egg marketing agency The goal ol the plan will remain the same to produce a steady supply of top quality eggs at reasonable Mr Whelan said He said the provinces will ensure that provincial egg marketing boards implement their part of the plan, including their responsibility for orderly marketing and production He said the federal government has agreed to use part of the budget set aside for the world food program to buy eggs and egg products from the Canadian marketing agency to supply people in deprived countries Mr Whelan said the purchase will not be a subsidy but part of Canada's commitment to the world food program He said the government will pa> the world price for top quality eggs and egg products to the marketing agency leaving the agency responsible for any losses it incurs in paying fresh market prices and storing the eggs or processing them into a less valuable product Harvest halted ALCOA Tenn (AP) The Aluminum Co of America an- nounced Monday it will dis- continue production of house- hold aluminum foil, which it marketed under the name Alcoa Wrap The company said it is dis- continuing foil production for household use because of a metal shortage It said it will continue making heavy-duty foil for industrial and in- stitutional use Approximately 100 employees of the firm's plant here will be affected, but some will be transferred to other jobs, the company said in a statement CALGARY (CP) Harvesting in southern and south-central Alberta was halted this week by more than one inch of rain, the Alberta Wheat Pool said Monday in its weekly crop report The lain halted fall crop threshing and spring crop swathing operations in the areas and, for most crops in Southern Alberta, the rain came too late to fill the heads The heaviest rain, which averaged 3 1 inches fell in the Claresholm and Cardston districts The Red Deer area received of an inch while it averaged one inch in the Stettler-Wamwnght region About inch fell in the Peace River area while northern regions received of an inch or less during the week Threshing of fall seeded crops was nearly complete in the southern districts with the swathing of spring crops general south of Calgary where most of the progress was in rapeseed However, the Pool said, swathing was not expected to be general until the first week of September Little damage was expected from early frosts and a return to warm weather for two weeks would see crop maturity and harvesting progress rapidly, the Pool said possible, Mr Bannister said However, Canada Lefarge plans to complete a major addition to its Exshaw plant within a year, and Inland is conducting studies aimed at increasing production by 30 per cent in the next four or five years You cannot vary production in a plant the size ot a full-scale cement plant You wait until you have reached 90 per cent capacity, then put in another major installation and take the loss for a few years until the demand catches Mr Bannister said "Right now we have to wait as much as three years for the equipment needed to increase capacity Additions are a long- term thing and we just miscalculated Mr Bannister said that the two companies often buy and sell to each other in various areas of the country to maintain supply Inland now is importing cement from Regina and British Columbia If a customer wants to buy from us, we will find the cement he said Although there is a shortage, some contractors are making things worse bv becoming panicky or hoarding he 'aid He said to the best of his knowledge no major project will be hurt by the shortages Cattle champ VANCOUVER (CP) W T Bennett of Connell, Wash Mondav took the senior and grand champion Hereford bull championships at the Pacific National Exhibition with B B Command 230 Reserve senior and resprve grand bull honors went to Roy Wudrick and Sons of Saskatoon with R W Beau Mode 470 Earlier Mr Bennett took both junior and reserve ju- nior championships in both classes He also won the grand champion female honors with his junior champion B C Miss Cis Dom 330 and won the champion group of four competition CP Air president renews route beef OTTAWA (CP) CP Air President John Gilrner renewed his airline's complaint Monday that it was badly treated when the government handed out its latest route assignments The government recently granted 14 of 18 new routes to the United States to govern- ment-owned Air Canada CP Air got to Los Angeles Mr Gilmer says he could understand that from a socialist government, but cannot believe "it is the reasoned judgment of this government Private regional earners got two of the U S routes and the others have not been allocated Mr Gilmer also told report- ers during his first visit to Ot- tawa in nearly two years that Washington took the upper hand in air-route negotiations with Canada While Canadian carriers got 18 new routes, U S airlines got 28 He said the Canadian negotiators suftered from changes in leadership and failure to demand a high enough price for U S demands including pre- clearance through U S customs which is a boon to U S carriers The CP Air chief said his line should be given rights to "serve San Francisco and Los Angeles from Edmonton and Calgary to fly Montreal to Halifax and to run a Montreal Toronto San Francisco route Mr Gilmer did not meet Transport Minister Jean Marchand this trip but the minister has promised to set up a meeting when he returns from vacation SHORT TERM FINANCING AVAILABLE and OVER Prtitrred Finance Corp Ltd 6012 Centre Street South Calgary, Alberta Phone 253-0196 ACCOUNTANTS Excellent employment opportunity for industrious individuals who are interested in providing a variety of accounting serv- ices to small and medium sized clients of a professional accounting firm The ideal applicants must have confidence m handling complete accounting records to the final trial balance stage and have enjoyed a minimum of two years ex- perience. PLEASE REPLY IN CONFIDENCE TO: YOUNG PARKYN McNAB CO. CHARTERED ACCOUNTANTS 1003 4th Ave.S., Albtrta, T1J OP7 ;