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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 29, 1973, Lethbridge, Alberta inE .-.-.-w.-.v. TSE prices up at mid-session TORONTO Prices xlged higher in moderate vol- ime at mid-morning at the To- stock market. The industrial consid- jred the best indicator of mar- was un .10 to olds .83 to SoO.91 and ivestem oils .07 to 248.68. Base mevals declined .37 to 100.58. Volume by 11 a.m. was shares compared with at the same time Tuesday. Banque Canadienne gained to Pennington's to TransCanada Pipeline to Massey Ferguson to and Intel-provincial Pipe- line to Canadian Imperial Bank tapped to IAC to Bank of Nova Scotia to Spar 10 cents to and Gas 10 cents to Dynasty Explorations rose 15 to 15 cents to and Canada Tungsten 11 to United CansS Oil tvas up to and Bonanza International 20 cents to Preston Mines declined to Chemalloy Minerals five to NRD Mining four rents to 58 cents and Canadian Vortowest Land 5 cents to On the Montreal Stock Ex- international Paper ad- vanced to R L. Craig to Consolidated- Bathurst 7s to and Cana- dian International Power to while Moore Corp. de- clined to Financial Col- lection Agencies 3s to and Lacroix to On the Canadian Stock Ex- change. Cabot Explorations ad- vanced ten cents to on a volume of shares traded. I MONTREAL All sec- tors except utilities advanced in light trading on the Montreal stock market today. Combined volume on the MOD- .real and Canadian stock ex- Aanges at 11 s compared with shares at the same time Tues- day. Industrials rose .30 to aapers .27 to the com- posite .20 to 227.20 and banks .11 to 269.57 while utilities fell .09 to 140.87. NEW YORK Stock market prices were sharply higher and trading in- creased to moderate as the but steady recent gains seemed to draw investors into the market. The Dow Jones average of 30 which had gained nearly 9 points in the past two sessions in slow spurted up 9.55 points to 881.62 at noon. Among Canadians on the New York exchange Mclntyre was up 1 at International Nickel Vs at Dome Mines at and Massey Ferguson I at Alcan was down V4 at and Seagram's at S41. Miscellaneous quotations Montreal kj McCuaig LAST BID OR SALE t.m. i.m. WISTMN OILS AND MINES Albany Oils Alta East Gas Almlnex Asamtra AsMsnd BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chleftan Dome Pete Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochlel Lytlon Mln Noble Mines North Cdn Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Seibens Soconer Total Pete Ulster West Pete W. Decalta 1.08 7.75 6.40 12 CO 12.12Vi 1S.75 7.1S 4.50 3.10 7.50 7 87''2 54.75 4.M ll.MVi f.65 .26 3.10 10.00 29.7S S.CO 2.74 2.13 .93 7.10 14 50 15.75 1.28 .23 .59 .40 33.00 20 tn'l 12.50 .42 7.10 .66 MISCELLANEOUS INDUSTRIES Rapeseed-oil firm trying to develop own markets Preferred Finance Corporation Ltd. Short term financing avail- any amounts over Expedient ser- vice. Phone 262-3906 or 262-6465 Hog prices EDMONTON Aver- age prices to 11 a.m. Wednes- day provided by the Alberta Hog Producers Market i n g Board. 5780. average Tuesday 59.63. Ked No average Tuesday 58.77. 53.00. average Tuesday 58.92. No sales average Tuesday 58.99. Fort No sales av- erage Tuesday 59.45. Total hogs sold to 11 am. 213. Total hogs sold Tuesday Average 59.36. Sows av- erage 49.85. ATTRACTIVE OFFICES FOR RENT Available September located at 424 7th St. S. Occupied recently by Manpower and formerly by Indus- trial Acceptance Corporation. Apply BOX LETHBRIDGE Sask. A small rapeseed-oil manufac- turer here is bypassing the maze of government export-as- sistance and trying to develop overseas markets on its own. Agra Foods Ltd. used a bro- ker as consultant when they negotiated their first overseas contract with Chile in Febru- ary. But a second shipment to Chile in May and one to India this month were handled with- out outside assistance. was the first time a Ca- nadian crusher had consummated the assem- bled the order and chartered the vessel -without says Dave controller at the Nipawin plant. He admitted that it is a experience for small industries to try to break into the export market. big brokers shook their heads when they heard about our plans to make ar- rangements ourselves. They thought we couldn't pull it The company is part of a large Canadian-owned con- Agra which has other subsidiaries in the engineering and communication fields. The Nipawin plant employe about 120 people and brings about million in salaries into the area. The plant now is operating at more than 80 per cent capacity even though Mr. Redden said Agra is still some of the bugs A large portion of the com- BUY-RITE'S MID-SUMMER CLEARANCE CONTINUES SPORT JACKETS AND SUITS SPORT KNITS 4 button. Cana- dian made. All colon. Sires S- M-L Reg. 10.00 2 .95 SPORT SHIRTS Polyester and cotton. C a n a dian made. Sizes M-L-XL. Reg. 4.95-6.95 2 ond sizes Reg. 4.95 SWIM SUITS .95 Atst. colors 1 WORK GLOVES Soft Leather Reg. 4.95 and 5.9 2 and DRESS PANTS C.W.G. 20.00 polyester. Washable. Reg. SHIRTS long and short Canadian madt. Brok- en siiei. Reg. 4.95-6.95 1 .95 MEN'S REVERSIBLE JACKETS Canadian made. To 46. Reg. 16.95 9 .95 BUY-RITE MEN'S WEAR 318 5th ST. S. OPEN THURS. TILL 9 P.M. All SALIS FINAL ALTINATIONS EXTRA pany's rapeseed-oil production go-as into its margarine manu- facturing and packaging which began operations in Feb- ruary and now turns out pounds in an eight-hour shift. Mr. Redden says the varying erucic-acid content of rapeseed poses a problem for companies such as his. Rapeseed with low erucic-acid content has been de- but is not in universal use. would have much pre- ferred to sea a clean cut from high erucic to low erucic. This would have made it much more simple and less expensive for crushing plants.'' Mr. Redden said the Western Canadian agriculture industry is doing itself a disservice when it sells abroad raw materials it could process in Canada. Products like rapeseed should only be sold in meal or oil form. This has been recognized by an encouraging trend among governments to place more em- phasis on domestic processing. With the cost of feed supple- ments rapeseed meal has been bringing a return com- parable to that of oil. It used to bring about one-quarter that amount. Harvest scene With autumn approach- a combine near don sets to work on the grain harvest. Total prai- rie wheat yield this year is expected to be slightly below the 10-year average of 600 million bushels. Grain quotes CHICAGO Grain quotations Sep Dec Mar May Jul 3.35. Sep Dec Mar May Jul Sep Dec Mar May Jul 1.18. Acres Ltd Aouitalne EC Suaar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrock Ind Crowsnest Ind Cygnus A Cygnus B Falcon Cooper F and M Trust Censtar Global Comm Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E War Hys of Canada Inter Prov Pipe Inter Prev Steel Kaiser Res Loblaw C Pfd AAagnasonics Pacific Pete Pec West Air Pe-Ben Oilfield Rainier Inc Royal Trust Commerce Cap Ssndwell Teledyne West Cdn Seed Westfleld Mln Weston A Pfd Yukon PIPE LINE Alta Gas A Alta Alta Mat Gas Inland Nat Gas N and C Gas N and C B Pfd Pacific Trans Gaz Metro Gai Metro A Trans Can Pipe Tr Can A Pfd Tr Can B Pfd Tr Can War WC Trans WC Trans War 7.75 All Cdn Vent 7.75 Amr Gr F AGF Special 5.25 Cdn In F 16.00 Col Mutual 44.00 Cmnw Inter 46 00 Cmnw Lev Cmnw Vent Corp 50.55 40.00 49.00 25.75 9.45 11.00 S'M 335 27.50 8.00 30.75 T.K' 5.00 24.M 475 4.10 K23 1025 STOCKS 1203 71 .on 3.M i.n s.n 2.80 5.04 S.53 5.79 6J5 14.62 16.07 3.78 4.15 7.15 7.84 6.21 6.82 r In F S.ll J.62 Dreyfus F U.S. 10.56 11.57 Gr In Shares 135 3.68 Gr Equity 7M 8.35 Invest Gr F 12.39 13.55 Invest Mutual 5.62 6.37 Mutual Ac 592 4.51 Mutual Gr F 3.58 3.94 Nat Res 4.93 5.42 N W Cdn 5.65 4.21 N W Gr 4 98 5.74 Principal Gr 4.11 Royfund 6.65 6.93 Temp Gr 8.42 9.23 United Ac 5.13 5.64 Universal Sav 7.86 8.61 Vanguard 6.17 CALGARY Aeroir .58 Baruns Oils MVi N Continental West Warner .33 VANCOUVER MINES Afton I. SO Atlas Explor .37 Bath E3 Dar.Koe 1.85 Davenport .42 Dclly Varden .28 Equitorial RES .21 9.t7V3 Gibraltar Mns 21 75 Lcrnex 13.00 Primer G7 Pyramid .13 Silver Standard 2.35 Valley Copper 8.80 11.'0 52.50 INDUSTRIALS 13.75 22.50 13.75 275 26.00 29.50 30.1214 8.95 28.00 All Cdn Dlvid 7.29 7.92 Stampede Intl' Res 1.67 Cd Brew s.50 Key lndust 17.37Vj Warctair OILS MUTUAL FUNDS All Cdn Comp 6 E2 7 41 Prp Explor ete Explor 3.15 .24 1.90 1.20 .57 90 Toronto industrials By RlcBirmon Seewittet of LAST BID OR SALE a.m. a.m. a.m. Britain's economic climb appears too good to last New York Times Service LONDON Every time the British economy seems to be doing someone comes along and forecasts imminent disaster. they are right. The general pattern is a stop- go one short bursts of rapid economic growth choked off by a widening trade deficit and a deflationary bud- get. It has become depressing- ly familiar since World War II. And it has led to a belief that any economic expansion is good to a belief that has invariably proved correct. The all-too-familiar scenario seems to be emerging again. At the with industry run- ning short of spare the balance-of-payments deficit increasing and inflation begin- ning to accelerate. The government is up against a difficult task. It is clearly de- termined to if it pos- sibly a return to the stop- go phenomenon. But it is not easy to con- vince British industrialists and consumers to ignore those who say that there will have to be a deflationary budget in the au- tumn. For this the govern- ment has moved gingerly in trying to curb inflation. It has tried as did President Nixon before it to combine those two rapid growth and stable by relying almost entirely on a price-wage program. The British policy has so far been almost a carbon copy of the American Phase 1 and Phase 2. There was a statutory freeze from November to April on wages and almost all prices. The second phase has allowed small wage control- led profit margins and the pass- ing on by manufacturers of cost increases resulting from allow- able wage and raw material rises. Talks have opened with the unions and the employers' association on the next stage. It seems certain to be both tough and mandatory. Pres- ident Nixon's experience with his Phase 3 has not passed un- noticed. Apart from wage price con- the government has done little to curb inflation. Indeed the massive increases it plans in public spending and its very large budget deficit have been Crows Nest Industries income up VANCOUVER Net income of Crows Nest Indus- tries Ltd. of in the first six months this year was or per ex- ceeding the total for all of 1972 which was the company's best This compares with or per share in the first half of J972. Earnings for all of 1972 were In an interim report to share- President M. Bruce Pepper said the profits for the period indued' or per share of an income tax re- duction from a loss carry for- ward. In the same period last this extraordinary item was or 5G cents. Gross revenues for the period were compared with In the first half of 1972. Due to a Sudden Hlmu ANDY STEWART WILL NOT BE APPEARING in the WHITE HEATHER CONCERT in Lethbridge on September 18th However a replacement Is being and the re- mainder of the east will appear as RON DALE Comedian JIMMY BLUE Accordionist ANNA DESTI-Vocalist ALEX MORRISON Tenor MARK SIMPSON Pianist hailed by many a sure-fire recipe for encouraging infla- tion. Earlier this the govern- ment did make some relatively small cuts in planned spending. But it has been worried since tlien by the difficulty the Bank of England has had in selling government debt to the non- bank public. The money supply has be- gun to increase rapidly. The government until re- sisted increasing interest rates because of both the electoral unpopularity of making house mortgages and bank loans more and also the danger that industry would re- gard higher interest rates as the start of another squeeze. But when last week new and alarming figures on expansion of the money supply coincided with a steep rise in foreign in- terest rates and an accelerat- ing slide in the value of the the Bank of England fi- nally stepped in. Friday saw a rise in the mini- mum lending rate the suc- cessor to the bank rate and the rough equivalent of the federal reserve's discount rate by a massive 2.5 points to a record level of per cent. Anthony chancellor of the immediately issued a insisting that economic growth remained a key priority and that there would be no autumn budget. The slide in the pound's ex- change rate was checked on Friday night with the help of market purchases by the cen- tral bank. But It is hard to be sure of the prospects for it over the months for the un- certainties about where the British economy is going are greater than usual. Gold futures WINNIPEG Gold US. Winnipeg Commodity Exchange close Tuesday. Oct 73 Jan 74 Apr 74 Jly 74 Oct 74 120.50B. Monday's 11 con- tracts. Beef Futures WINNIPEG Live beef futures close Tuesday. Sept Nov Jan Mar 51.90A. Monday's Two con- WINES Acma Advocate Asb. Akaikho Bralcrne Broulan Betnlehem Bovis Brunswick Can N W Land Canada Tung. Casslar Central Pat. Chimo Ccnwest Ccn3. Rambler Coin Lake Coctancur Crfiigmont Dickenson Wines Denison Mines D'Eldcna Dome Mines Discovery Mlnss East Wlalartlc East Sullivan Falconbridge Frofacx First Maritlmw Giant Y.K. Granduc Holllnger Hudson Bay AVS Hydra Ex. Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon LabrEdor LaKe Shore Lanqls Silver Mjdaen R.L. Malarllc G.F. Martin McNcely Maclntyre Meta Mldnm Intern Mogul Nu West Humes New Athona New Calumet Noranda Ncrthgate Norlex Osisko Pine Point .11 1 25 1.15 2.15 .41 14.75 2.10 4.95 8.25 2.45 10.87V2 .97 1.10 1.00 Placer Dev. Pax Exp. Quebec Man Raycck Radlsre Rio Algom Roman Corp. Sherritt Gordon Sleep Reck Tek Corp. Texmont Canada Western Mines W H Cop Mines Wright Hargreaves .90 Willroy 1.07 Windfall Yello'.vknife Bear Zenmac INDUSTRIALS Crt Cdn Oil Gen Motors Grt Laxes Hp Gulf Oil Cda Greyhound HawKer bid Hiram Walker Hur Erie Imp Oil I ma sea Int NicKel Int Pipe Inv Grp A Int Util Ind Accept Kaps Kelly Doug A 3.90 .09 Loss Loblaw A 2675 2.35 .12 1.20 .33 2650 15.75 1.50 4.00 .24 261 3.05 370 7.8S 65.00 24.00 36.25 16.25 4. tO 3E 12Vi Abllibi Alcan 84.00 1 25 X.05 2.62 6.25 Algoma Steal Alco Ind Atlantic Sugar Agra Ind Bell Tel .31 Brazil Trac .W B.C. Tel 8.20 Burns 370 B.C. Forest 4J.50 B.C. Sugar 26 62V2 Bow Vsl Ind .23 Cable 3.60 CAE Ind 2.07 Cdn Brew .22Vi Chemcell 12.50 Col Cell .31 Calgary Power Ccron Credit 2.70 C.W.N. Gas Pfd .05 Cdn Ind 1.14 Cdn Marconi .95 Cdn Vickers Chrysler 52.00 C.P.R. ComJnco -H Cons Both 13 00 Cons Gas Dlst Seagrams .U Dom Bridge .25 Domtar Dom Textile 6.10 Dom Stcres .28 Dame Fete .23 Dofasco 75 Met Stores 32 Fer3 id McMillan Bioi 13 05 Moore Corp Molsons A Molsons B Nachurs North Cent Power Corp Price Co. Rothmans St. Law Crop S'lell CDA Simpson's Simp Steel of Cda Selkirk A Texaco Traders Grp A Trans Mtn Pp Trans Cda Pp Union Orb Union Gas Union Oil United Siscoe Veisatile MFg Westee 1000 41.25 17 51 .CO 1575 18.25 1975 33.00 15.75 10.00 4 45 4 65 27.25 43.00 30.12W 22.87Va 9.2S 23.7S 16.75 6.12Vi 5.25 11.25 4.50 5.50 It. S3 22.75 32.25 4800 23.50 23.75 7.50 9.25 11.00 15.09 14.00 8.25 10.75 10.75 1450 3.E5 2000 24.75 1 t.yjlfi 14 Woodward's A 4o'6ji4 West Cdn Seed 35 25 Zenith Elec 11.50 BANKS 8 62'A Cdn Imp 14.75 Montreal 3575 Nova Scotia 28 00 Royal fi.75 Tor-Dom 15.50 65.00 17.75 19.37W 28.37Vi 16.50 9.7J 15.75 6.a 6.67Vi 15.00 21.00 23.50 5.25 3.15 34.75 34.25 NEW YORK Amr T and Anaconda Steel Chrysler Comsat Dupont Gulf Int Harvest Copper Montgomery IVetc Yorfe stocks By Riehftrdion SecnrtHen of GA Scars T 21.75 Std Oil of N J. 51 25 Texas Gulf 2i 25 Texas Co U.SPA Wickes Corp 49.03 woolworth 160.00 Westlnghcuse Elec lndust 64 87V4 U.S. Steel 29.B7YJ 20 Rails 154 22 up .94 Jg Gen Tel Elec 27.75 15 Utilities 95.57 up M 3o'7s TORONTO AVERAGES 65 Stocks 266.47 up 2.41 Ward 20 lndust JU.53 up .27 Volume M.62'A 20 Golds 5S1.02 up 10 Base Mel 100.73 cff 2J 24.25 15 W Oils 249.35 up 74 3050 Volume YORK AVERAGES 'O.tt Grain Prices Winnipeg grain Prices moved lower in light trade at mid-session today on the Win- nipeg Commodity Exchange. Flax prices were all about 50 cents while rapeseed was down its 20-cent limit in all contract months. Oats were mixed and mostly while barley losses rang- ed between three and 10 cents. Rye was about a cent higher. Tuesday's volume of trade was of of rye and of rapeseed. Mid-session Livestock Calgary livestock CALGARY Receipts to 11 a.m. Wednesday at the Calgary public stock yards showed sales of about 120 mostly slaughter heif- ers and feeder steers. Trade was slow with a nar- row demand for slaughter steers but an active demand for slaughter heifers and feed- er steers. A few steers sold steady. Slaughter heifers at a good selling at strong prices. A few slaughter cows and bulls sold steady. Steers 49.50 to 50. Heif- ers 2 48.50 to 49.60. CoWS 34 to D3 32 to 34. Good bulls 38 to 43. Replacement cattle were practically all light stock steers selling at steady rates. There were insufficient receipts of feeder heifers and stock calves to establish a market. Good feeder steers more than 600 pounds. 48 to 54.70. Hogs fob Calgary to 11 a.m.. Oct. 49 lover. Nov. 50 lower. Dec. 54 May 55 7.45A. Rapeseed Sept. 20 lower. Jan. 20 lower. Mar. 20 5.62A. Rapeseed Thunder Oct. 20 Nov. 20 low- Dec. 20 lower May 20 5.21A. Oct. 1.42 Dec. 1 May 1.35B July not open. Oct. 3 Dec. May 10 July not open. Rye. Oct. 1 Dec. May 1 July not open. Grain quotes Lake- High Low Close Flax jOct C-48 816 Nov 832 806 806 Dec S31 798 798 May 830 800 800Vz Rapeseed Vancouver Sep 578 Nov 584 Jan 582 Mar 582 Rapeseed Thunder Bay Oct Nov----- Dec May Oats Oct 145 Dec 139 Jly Barley Oct 241 Dec May Jly Rye Oct Dec May 241V4 137Vi 235 earn 555 514 541 137 235 235 218 23U4 240 ;