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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 26, 1974, Lethbridge, Alberta Monday, August LETHBRIDGE The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHtRTY LIMITED WESTERN West Air AND Ben Oillield Serv 3 50 Alton Trust 17 25 Albany 3 90 Alta East 3 85 Mm 55 A Pfd 46 00 tepass Yukon 650 BP STOCKS Brenda Gas Trk w 1087 2 Cda Gas Trk 54 00 Cdn Ex Nat Gas 17 25 Cdn Homes Metro 5 50 udn Ind Gij Metro A Pfd 5500 C lr Lo g Nat Gas 11 50 Cdn and C Gas 9 75 Cmeflan and C Gas B Pfd 1925 Done Cda Pipe 9 00 62 Cda A Pld 5050 l-ort Cda B Pld 2700 G ant Cda War 80 Gibraltar Trans 1300 Grar Trans War 1 45 Gt PIT Gt Cdr Oil Loch ei 30 ytton Oil 06 vorth Cdn 0 Continental 02 Niimac Warrtpr 27 2 Panrdn Pjn o7 Norsemmes 80 F i r rna Resources 70 idee G 2 40 30 Rir jer O ornex 6 25 o i rrv Rd Mines 1 me 04 07 To'al 12 Standard 92 UlsUr Copper 5 40 Un ec! Wes coasi Industries 06 V eb 1 50 INDUSTR Petroleum 25 Acres ns Pete 11 Aqu la impede Inl 1 Res 61 BC Sjgar C f FUNDS Bi jck Cdn Compound 4 96 5 39 i bra Cdn Dividend 5 18 563 Cdn P lr A Cdn Ventures 243 270 V Pde J r G owth Fund 3 54 jrl ng O KmfM A G F Special 1 79 C rl rg O Krele b Invest Fur d 3 96 4 34 C Comnwllh 11 37 C estbro jk lr i leverage 2 62 Falcon Ce Inl 1 Venture 4 75 u nd M Investors 513 5 64 Gpnsla' Invest Slock Fund 382 420 Fund U S 789 865 H m ippd In Shares 253 -1 d E-ny Equ U 5 37 590 3 y st G Fund 989 1081 RJ t colors Mutual 4 74 518 tu I Accum 5 18 570 (J O i R source 3 73 4 10 k t: W Cdn 4 51 4 92 Orowt 3 57 3 92 nl j ir f al 341 3 74 M Or 3ykr d 5 15 521 i r n Grow h 661 724 1 v f Pd Acr urn 3 64 401 Savings 680 748 1 i qud d 4 09 4 48 Toronto mines, industrials (Supplied tn Richardson Securities ot Canada) -ilC Ajb Ak? cho Pralcrn PioiI r Bpt ill i en Bov s Brunsv. ck Can NW Canada Tur g Cassiar Cent il Pa Chimo fo LSI or R o c C L "o C grr o L pi-ei bo VI lies, c V as D I Idon Do H M nrs J M r t M IT I i t tst iul vi f I u brdqp r-rt DCX irst Mar times t ant Y Y Grand e Hcllmqe A r- dson BH, MnS A -1 Ex tny o Jcl I Quc ber Ki rr Add so Ki y Anicon I -ibndor nkc bhore i angis Silver Midsen R L Mnar GF r McNpe v cl yrp 1 I i Midi rr Intern Mogul NuWetl Homes New. Athona New Calumet No ?nda Jjrthgate i e Po nt i Dev Our nOu Min Hid ore S o Aigom Roman Corp She'ntl Gordon Sleep Rocier Wr gr H j gri avi W liroy Yoliowkn fe Beir Zi nmac INDUS RIALS A on Sippl "li. i Ind A r i li d I TP si. 1 1 v I I 62 1 50 1 Vdlley 25 6 li 1 3l 70 3 Cell 4 ng 0 21 5 i Gas In 12 3 85 2 11 i ybl 50 12 7 4 >ni B SCc-Q 51 7 1 r 3- 12 26 Gin 0 "a K 00 i 1 L ikes 2fa O 25 ey f o 50 v k r S i im Wilker j i Er f1 i ptr Oil 11 i isca t 2i> 5 v Grp 1 12 4 1 1C( 14 Do glas 75 i 12 2 4 4 II 35 4 2 50 oo h 45 i 1 i 75 1 1 25 r, 27 el 8 B mp 1 Can J 00 2 ul Grp Mtr P in i L ,rj 1 on u 1 led 50 70 07 75 li ?5 12 I 3 vi 37 42 87 12 7 I I Liquidity flap wories analysts on Wall Street New York (Supplied bv Richardson Securities of Canada) Amr TST Anaconda Beth Sleel Cliryslor c. omsal Dupont Gonpral Motors Gull Inl Hirvosler WENDY ROSEN The Canadian PRESS There are signs that the Ca nadian securities industry is suffering more than it likes to admit Mergers, staff firings and sharply falling revenue are the outward signs And there are predictions that even more drastic adjustments are in the future if present market conditions continue The Toronto Stock Ex change (or instance has told the Ontario Securities Com mission (OSC) that only one- third of its members showed a profit during the first six months of the year Exchange members es- timate they need a daily trading volume of about million to break even and so far this year they have reach ed this in only about four trading days out of 10 Robert Morgan, chairman of the exchange said in an interview that if inflation and costs continue to spiral and trading volume remains low there is no way the mdust, can stay as it is Such an increase in revenue might mean survival for some brokerage houses but was not the ultimate cure 1 600 member association, many ranchers will go bankiupt this fall alter being forced 'o sell cattle at a losing price in oider to pay off last year s Mr Blazowski said feed lot operators the people who raise cattle from the calf to the slaughterhouse stage are oliering ranchers only about 30 cents a pound for beef That s about half the break even price but the teed lot operators have taken a beating so that s all they 11 pay he said He said the largeh Alberta based teed lot industry faces rapidh increasing grain prices barley is a bushel up from 75 cents two years PRICES DEPRESSED As well winter beef prices will likely be depressed because the tedeial minimum price guideline lor full grown beef on the hoot is only 45 cents a pound although 60 cents would be more realistic he said As a result feed lot opeiators are reluctant to pay ranchers more than half the 60 cents a-pound price which would covei the cattlemen s own rising costs Mr said the crisis could be alleviated it the normal cattle raising process were changed He said the federal govein ment should of all declare a moratorium on debts to pi event ranchers be ing forced to sell then stock al a losing price As well the piovmcial government should move to ensure theie are sufficient hay and grass feed stocks in the B C interior so the hei ds can be wintered And linaliv both governments should establish a policv to ensure more land will be available for grazing such as issuing three year per- mits on crown range land instead of the current one deals Gasoline price war predicted VANCOUVER (CP) The president of the Automotive Retailers Association has predicted that a gasoline price war could result in motorists paying and more for a gallon of gasoline Howard Goudry was com- menting on reports last week that the oil industry has started a gasoline price war ancj that company-owned- stations are undercutting independent dealers by three or four cents a gallon Mr Goundry said a price war in 1965 and 1966 put many independent dealers out of business He predicted many people would be laid off if gas sales go down now because of fierce competition Ho said that as soon as (he oil companies get control of the market gas will jumu up to a gallon Mr Goundry who leases a Chevron station from Stan- dard Oil said the price war began in the Vancouver sub urb of Burnaby in the last two months and dealers here are worried that it might move into the city He said retailers are holding regular meetings but can t get oil companies to sell them gas at the same prices that dis count stations and other non- lessees pay Regulai gas costs him 50 9 cents a gallon but oil com- panies sell to discount stations for less he said In addition, oil companies often operate self serve stations which sell gas foi about live cents less than individual -dealers he added Liquidity is a word that is difficult to define and a concept that is difficult to measure Used as a synonym for solvency, liquidity refers to a firm's ability to raise the cash necessary to meet its debts when they come due What is critical in measur- ing a company's liquidity is not the absolute level of its cash (or short-term investments that can be speedily and cheaply turned into cash) but the relationship of cash to debts that must be paid off Thus, corporate liquidity is usually measured by a ratio (or more commonly, by a series of ratios) that pokes and probes at the depth and nature of business indebtedness In recent months analysts have spewed forth ratios as fast as automatic serving machines toss out tennis balls for practice shots Unfor- tunately the flurry of statistics does not answer with any finality the ques- tions at hand Is corporate h- quiditv adequate' What if the economy goes into a deep slide7 As with statistics in general liquidity ratios seem chosen to prove whatever their choosers wish to prove Ask one analyst about another s ratios and he is like ly to tell vou that his own are more accurate Hyman Minsky a bearish financial expert from Washington University in St Louis looked at his liquidity ratios (including cash and flow over total corporate liabilities and protected assets over total financial assets) and decided that the financial structure is now fragile The choice before the Lnited States he said, 'is either continuing unaccep table rates of milation or a financial crisis followed by a deep depression Miners return to work CHARLESTON, W Va (AP) Soft-coal miners returned to work in the United States today after a five-day memorial shutdown last week which reduced the country s coal stockpiles For many miners the shut- down was a glimpse into'the future should the union call a strike later this year Officially the memorial pe nod was to honor those who died in the mines or from in- dustry related diseases About 115000 coal miners were idle in the strike last week which closed an es timated I 200 mines In the event of a strike later this year the steel industrj would be the first to cave in industrv spokesmen said Some mills have less than a two weeks supply of coal on hand Power companies have greater stocks and should weather a strike more easily Before last week's shutdown the National Coal Association estimated that utilities had an average of 932 days of coal on hand Toronto market prices lower at mid-session TORONTO (CP) Prices on the Toronto stock market were sharply lower in moderate midmorning trading today The industrial index fell 80 to 169 69, golds 22 3 to 454 03, base metals 1 07 to 72 23 and western oils 1 70 to 152 02 Volume by 11 a m was 000 shares compared with MONTREAL Prices were lower in light trading on the Montreal Slock Exchange todav Volume al 11 JO a m was 179 100 shares compared with 2% 700 shares al Ihc same Ume Friday le utilities were down 34 to 12Jbl all other seclors dropped lo new 1974 lows conlmuing lasl week s fall Banks fell 1 59 lo 212 38 industrials 1 01 to 181 03 the composite 94 lo 171 21 and papers 76 to 109 33 General Motors Corp fell lo S38 Alcan Oil Moore 'i to Toronto Dominion Bank 'f lo 531 Celanese Canada '4 to S5' i Toldl Petroleum lo and Bank while Francana Oil and Gas rose lo Among speculative issues Gaspe Quebec Mines tell three cents to 12 after liadmg 29 800 shares Winnipeg grain WINNIPEG (CPi Prices were unchanged lo slightly lower in exl-emeh light at Ihe open on Ihe Winnipeg Commoditv Exchange and were the most active Rve was unchanged from Iridav s close while barlev lost between Iwo and 3'2 cenls a bushel Opening prices Thunder Bav rapeseed Ocl Nov Dec and Mav not open Vancouver Rapeseed Nov unchanged 869 Sepl Jan and Mar nol open Max Ocl Dec and Mav nol open Feed wheal Ocl Dec Mav and Juh nol open Corn Dec Mar and Juh nol open Oct Iwolower320 Mav lower 1 1" Dec and Julv nol open Odt1- Oct Deo Mav and lulv not open Rve Ocl unchanged 296 Mav unchanged 3 00 i Dec and JuK not open shares at the same time Monday Declines outnumbered ad- vances 178 to 39 with 150 issues unchanged Walker-Gooderham A fell to CIL Vz to Cormnco to Cooper of Canada 40 cents to 10 and Royal Bank V ;