Lethbridge Herald, The (Newspaper) - December 6, 1973, Lethbridge, Alberta
Market rebounds from price decline TORONTO The Toronto stock market rebounded sharply in ac- tive trading today from broad declines of the last three sessions. The industrial considered the major indicator of market was up 1.41 to base metals 24 to 81.96 and western oils 3 5f to 253 63 Golds eased .43 to 35S.62. Analysts said a major influence was a rally on the New York market which was a result of bargain buying of depressed stocks Volume by 11 a m. was up from at the same time Wednesday Advances outnumbered declines 174 to 134 with 200 issues unchanged. Oil paper and steel and industrial mining stocks were among sectors of the market recording gains while trust and loan and real estate issues were lower. Imperial Oil rose to Home Oil A to Bow Valley Vz to Canadian- Tire A Vz to and Husky V2 to Campbell Red Lake Mines gained 2 to Denison to and Mat- tagami Vi to J26Vz United Canso oil was up to Andres Wines fell to Montreal Trust Vi to and Thomson Newspapers Vz to Placer Development lost Vz to Rio Algom to and Great Cana- dian Oil Sands '4 to MONTREAL Prices were generally higher in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges ai 11 a.m. was compared with shares at the same time Wednesday. Industrials rose 2 10 to 231 the composite 1.64 to 214 papers 1 04 to and utilities .89 to 134 61 while banks fell .08 to 252.93. On the Montreal Stock Dome Petroleum rose Vz to Commco to Chrysler Corp. Vz Metals LONDON Closing metals bid-ask in pounds sterling a metric ton. silver in pence a troy ounce futures 896-848 Tin-Spot futures 2.935 Lead-Spot futures 261-262 futures 770-775 3 months 1323-1325' Gold prices LONDON Closing gold prices in U S dollars an ounce. London-105 25 Parts-105 33 Frankfurt-105 75 Zurich-106 00 Hong Kong-107 75 a kilo Gold futures WINNIPEG Gold lutures. U.S. Winnipeg Commodity Ex- change close Wednesday Apr 74 111 Jly 74 114 Oct 74 Jan 75 119 25A Tuesday's volume1 26 contracts FRIDAY la Seafood Day at The Lethbridge CREAMY BOSTON-STYLE CLAM CHOWDER Succulent Chunks of Cod Breaded and deep tried to perfection I U DOZEN PLUMP CHOICE SHRIMP Butter fried breaded and deep t tried DOZEN PLUMP CHOICE OYSTERS With crisp breaded A coating .......A. SEAFOOD COMBINATION PLATE with deep fried Shrimp and oysters fc. SEAFOOD DINNERS served with chowder french tries cole slaw and our own special Seafood Sauce of course the of your choice included. Open till 10p.m. LETHBRIDGE HOTEL RESTAURANT Corner of 2nd Ave. and 5th St. S. 329-4644 Hog prices EDMONTON Average prices to 11 a m Thursday provided by the Alberta Hog Producers Marketing Board with Wednesday average in brackets Edmonton 52 75 Red Deer. 52 75 Calgary 5285 Lethbridge- Nil Lloydminster Nil Grande Prairie Nil Total hogs sold to 11 a.rn 99 sold Wednesday 5.327. average 53 82 Sows average 39 05. Earnings By The CANADIAN PRESS Auto Electric Co. nine months ended Sept 25 eight cents a 1972 23 cents Columbia Brewing Co. six months ended Sept. 10 cents a 15.5 cents. Dylex nine months ended Nov. 3- 47 cents a share. 36 cents Glendale nine months ended Oct 31 38 a 1972. 70 cents Kaps Transport Ltd.. three months ended Sept 30 15.1 cents a share. 30 cents. Beef futures WINNIPEG Live beef futures close Wednesday. Jan 47 Mar48.30A. May 48 Jly 49 85A Tuesday's volume1 18 contracts Jjatcttron OC 1003 4th Avenue Lethbridge Telephone 328-4426 rocessiny HAVING PROBLEMS WITH YOUR JANITOR Enquire about our quality control THI Shining Knight Building Cleaners 328-8408 Herald- Business winning gr.m cars demanded to and Canadian Pacific Ltd. Vz to Vs while Canadian Arena Co. fell to On the Canadian Slock Cuvier Mines rose 21 cents to on a volume of shares VANCOUVER Prices were down in light trading on the Vancouver stock exchange Wednesday. Closing volume was In the industrials. Canadian Javelin was at 00 on shares. EDP In- dustries was down 01 at 20 on lonarc was at 85 on shares and Mercuna was at .47 on shares Block Bro. was at and Speculators Fund was at .95. In the Cutlass was up .07 at on 99.950 shares Accent Resources was down .01 at .20 on shares and Gunn was down .16 at .44 on 41.200 shares. Silver Standard was down 01 at on shares. Highhawk was at 07Jj and Cop-ex was at In the Silmil was unchanged at 18 on 14.816 shares. Hose Pass was up 05 at .37 on 13.500 shares and Seneca Developments was up 02 at 05 on 10.300 shares. Five Star was at 05 on 10.000 shares. Western Warner was at .48 and Embassy was at .41. NEW YORK Stock market prices backed off from some morning gains today but stayed on the positive side The Dow Jones average of 30 in- dustrials was up 7 82 to 796 13 at noon Advancing issues led declines 747 to 508 in fairly active trading on the New York Stock Exchange The broad-based nyse index of some common stocks was up 22 at 49.27 at noon. Ramada Inns was the NYSE volume off 3's at followed by Mid- dle South up 'A to and Warner up 3A to City Investment was unchanged at and General Motors added to Among Canadians on the New York Mclntyre was off 1 at Dome Mines at Hiram Walker Seagrams Vt at and Alcan at Canadian Pacific gained to International Nickel Vs to and Massey-Ferguson to On the American exchange. Preston advanced to Brascan lost Vs to and Canadian Marconi was un- changed at Livestock Calgary CALGARY Receipts to 11 a.m Thursday from the Calgary public stockyards totalled 900 mostly cows and replacements Trade was moderately active There were insufficient slaughter steers or heifers sold early to establish quotations Cows were mostly in the lower selling steady for kind A few bulls sold steady Dl. D2- 31 to 33 D3 29.50 to 3075 D4- 23 to 29 good. 39 to 42. Replacement cattle were practically all fleshy shortkeep steers weighing 850 to and heifers weighing more than 600 pounds. There were insufficient stock calves sold early to establish quotations Good feeder steers more than pounds 42 to 46.10. Good feeder heifers more than 550 pounds. 37 to 43.90. Hogs fob to 11 a m 52 85 Stocks Miscellaneous Montreal by McQuaig WESTERN OILS AND MINES Alton Mines 7 00 Albany Oil 68 Alminex 7.35 Asamera 11.75 Ashland Oil Gas 12.00 Alta East Gas 6 40 BP Canada 12 50 Brenda Mines 6.60 Can South 4.40 Cdn Ex Gas 3.55 Cdn Homesld 6.10 Cdn ind Gas Oil Cdn Long Is 18 Chiellan 10.00 Cdn Super 58.75 Dome Pete 35.00 Dynasty 9 30 Fort Reliance .19 Giant Mascot 2.20 Gibraltar Mines 9.75 Granisle 8 50 Gt Plains 2700 GtCdnOilS 1000 Lochiel 2.40 Lytton Min 1.15 Noble Mines .70 North Cdn Oils 5.90 Numac 1475 Pancdn Feie 1300 Pan Ocean 15.75 Petrol 1.69 Pinnacle .22Vz Place Gas 45 Ponaer 52 Ranger Oil Scurry Rain Seibens 13.50 Spooner 30 Total Pete 5 75 Ulster Pete 1 22 United Canso 19 West Pete 5.37VZ West Decalla 6.15 MISCELLANEOUS INDUSTRIES Acres Ltd 10 Aquitame 24 BC Sugar A Pfd 13.25 Block Bros 3.25 Cdn Pac Inv A Pfd 30.12Vj Comm Cap Corp 235 Carlmg O'Keefe A Pfd 23 Carlmg O'Keefe B Pfd 29.50 Crestbrook Ind 7.75 Crowsnesl Ind 28 00 Falcon Copper 1075 F and M Trust 4 75 Gsnstsr 1500 Global Comm Unit 41.50 Home A 51.00 Home B 45.00 Hud Bay Co Hud Bay Oil 46 25 Hud Bay A Pfd 5300 Hugh Russell C Pfd 42.75 Husky Oil 26.25 Husky B Pfd 42 25 Husky D War 9 75 Husky E War 1050 Hys of Canada 3.15 Inter Prov Pipe 6.35 Inter Prov Steel 12.00 Kaiser Res 3.65 Loblaw C Ptd 27 25 Magnasomcs 6 50 Pacific Pete 33.00 Pac West Air 6.75 Pe-Ben Oilfield Rainier Inc Royal Trust Sandwell Teledyne West Cdn Seed Westfield Mm Weston A Pfd White Yukon 4.00 25.00 4.50 4.25 4.50 .95 60.00 775 PIPE LINE STOCKS Alta Gas A 10.25 Alta Gas Pfd 68.25 Alta Nat Gas 17.50 Inland Nat Gas 9 50 Gaz Metro 4 80 Gaz Metro A Pfd 67.75 N and C Gas 10.00 N and C B Pld 21.25 Pacific Trans 10 Trans Can Pipe 32 50 Tr Can A Pfd 59 75 Tr Can B Ptd Tr Can War 4.20 WC Trans 21.00 WC Trans Wts 3 25 CALGARY Acroll 52 Barons Oils .04Vj N Continental .01 Vi West Warner .38 VANCOUVER MINES Atlas Explor .24 Bath Norse .74 Dankoe 2.05 Davenport .31 Dolly Varden .18 Equitorial Res .13 Lornex 8.50 Primer .06 Pyramid Silv Standard 1.06 Val Copper 8.00 INDUSTRIALS Colum Brewing 2.85 Key industries 15 Wardair 1 65 OILS Plains Pete .20 Ponderay Explor .70 Stamp Intl Res .65 MUTUAL FUNDS All Cdn Compound 6.35 6.90 All Cdn Dividend 6.67 7.24 All Cdn Ventures 3.24 3.52 Amer Grow h 4 89 5 37 AGF Special 2.48 Cdn Investment F 4.74 5.19 Collect Mutual 5.12 5.62 Com Inter 13.13 14.43 Corn Leverage 315 Com Venture 5.70 6.26 Corp Investors 5.99 6.58 Corp Invest S Fund 4.81 5.29 Dreyfus Fund US 10.10 11.0V Grpd Income 2.92 3.21 Grow Equity 6 65 7.31 Invest Grow F 11.23 12.39 Invest Mutual 5.46 5.96 Mut Accum 5.68 6.25 Mut Grow F 311 3.42 Nat Resources 4.70 5.16 NW Cdn 4.97 5.46 NW Growth 4.23 4.65 Principal Grow 4.12 4.52 Provident Mut 7.06 7 72 Royfund 6.37 6.63 Temple Growth 7.35 8.66 United Accum 4.51 4.96 Univer Savings 7.49 8.24 vanguard 5.33 5.84 Toronto industrials by Richardson Securities of MINES Acme .10 Advocate Asb. 1.25 Akaitcho 1.18 Bralorne 1 40 Brcular. 40 Bethlehem 13.75 Bovis 1.75 Brunswick 4.50 Can. NW Land 6.10 Canada Tung 2 70 Cassiar 10.12Vz Central Pal. .75 Chimo .91 Conwest 3.70 Cons Rambler 2 65 Com Lake Cochenour .66 Craigmont 645 Dickenson Mines 3 35 Denison Mines 4700 D'Eldona .35Vz Dome Mines 129.00 Discovery Mines 92 Easi Maianic 4.25 East Sullivan 2 30 Falconbndge 62.50 Frobex .20 First Mantimes .49 Giant Y K 9 00 Gianduc 3.00 Hollinger 42.50 Hudson Bay 23.50 Hydra Ex 27 Iron Bay 3.45 Iso 1.56 Joliet Quebec .20 Kerr Adjison Key Anacon Labrador 37.50 Lake Shore 2 70 Langis Silver .04 Madsen R.L. 1.36 Malartic G F. 80 Martin McNeely Maclntyre 45.50 Meta Midrim .14 Intern Mogul 8 50 Nu West Homes 7.75 New Athona .14 New Calumet Noranda 47.00 Northgate 4 35 Norlex 25 Pine Point 28 50 Placer Dev. 21.25 Pax Exp. 1.05 Quebec Man Rayrock 87 Radiore 25 Rio Algom 30.75 Roman Corp. Sherntl Gordon 13.25 Steep Rock 1 60 Tek Corp 325 Texmont .18 United Canso 19.25 Western Mines 2.78 W House Copper Mines 2 80 Wright Hargreaves 1 00 Willroy 1 02 Windfall .10 Yellowkmfe Bear 4.40 Zenmac 07 INDUSTRIALS Abitibi 1075 Alcan 35 87 '6 Algoma Steel Atco Ind 1437VZ 'Jannock 6.00 Agra Ind 9.75 Bell Tel Brazilian Trac 15 75 BC Tel 52 75 Burns BC Forest BC Sugar Bow Valley Ind Cable CAE ind Carlmg O'Keefe Chemcell Cdn Cellulose Calgary Power Coronation Credit CWN Gas Pfd Cdn Industries Cdn Marconi Cdn Vickers Chrysler CPR Commco Cons Bathurst Cons Gas Dist Seagrams Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glendale Mobile Grt Cdn Oil Sands General Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie Imperial Oil Imasca Int Nickel Int Pipe Inv Group A IU International Accept Kaps Kelly Douglas A Laurentide Loeb Loblaw A Metropolitan Massey Ferg McMil Bloed Moore Corp Molsons A Molsons B Nachurs North Cent Power Corp Price Co Rothmans Shell CDA Simpsons Simp Sears Steel Canada Selkirk A Texaco Traders Grp A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Siscoe Versatile Mfg Westeel Westons Woodwards A West Cdn Seed Zenith Elec BANKS Cdn Imperial Montreal Nova Scotia Royal Toronlo-Dom 1462Vz 18.25 27.25 14.75 7.50 370 450 4.70 22.00 2.25 1075 1600 335 15.00 15.25 31 87 Vz 2475 4000 3600 825 1225 3475 26.00 6.75 9.95 45.75 31 4.60 50.25 29.75 41 75 2625 30.25 20.75 17.50 17.00 445 9.00 4.10 575 18 49.25 22.00 2050 1000 9.50 13.75 27.75 12.00 43.50 1475 15 3225 17.00 8.75 14.00 500 5.50 1575 1875 450 3.00 27.00 17.75 3600 New York by Richardson Securities of Arm Anaconda Beth Steel Chrysler Comsat Dupont i General Motors Gull Int Harvester Kenn Copper Montgomery Ward Sears Exxon Texas Gull Texas Co Wix Corporation 4625 23 27 37 V4 15.25 40.75 150.00 20 87 2300 3575 82.25 27 Woolworlh 1775 Weslmghouse Elec 31.25 US. Steel 31.00 Gen. Tel. Elec 2400 TORONTO AVERAGES 20 Industrials 202.98 up 1 35 20 Golds 358.05 up 2.00 10 Base Metals 89.07 up 35 15 Western Oils 2S3 63 up 3.57 Volume NEW YORK AVERAGES 20 Industrials 795.75 up 7.44 20 Rails 167.36 up .50 15 Utilities 84.96 up 54 65 Slocks 249.50 up 1 83 Volume WINNIPEG Kapeseed prices followed an upward surge in Chicago soybeans to post slight gains in a stronger volume of trade at mid session today on the Winnipeg Com- modity Exchange Flax continued its downward dropping 30 cents in nearby December futures while rye posted marginal gains in a mixed trade Oats was firm to stronger on some li- quidation orders while barley was ig- nored Wednesday's trading volume was bushels of 75.000 of 22.000 of of rapeseed and of rye MID-SESSION PRICES. Flax Dec 30 lower May 9 lower 9.50. July 15 lower Oct. 17 lower 8 37B Rapeseed Jan. 6Vz higher 5.99VzB. March higher 5.98VzB. June 7Vz higher 5 Sept unchanged 5.80A. Rapeseed Thunder Dec un- changed 5 May higher July 2 higher 5.55B. Ocl un- changed 5.39B. Oats- Dec. 4 higher 1.61B. May un- changed 1 July not open. Barley Dec May and July not open Rye- Dec higher May higher July 2Vz higher Grain quotes Wednesday basis Lakehead High Low Close Flax Dec 1082 1057 May 972 979 959 Jly' 946 Oct 854 Rapeseed Vancouver Jan 614 593 593 Mar 613 590 590 Jun 597 581 582 Sep 580 Rapeseed Thunder Day Dec 545 538'z May 570 554 554 Vj 553 Oct -_ 539 Oats Dec 157 May 156 Jly Barley Dec May 245 Vz Jly' 230 Rye Dec 284 284 May 306'i 291 .IlV 294 286 286 to grain By VICTOR MACKIE Herald Ottawa Bureau OTTAWA Demands that the federal government act to force the railways to allocate cars to the movement of grain and lumber were made in the Await word on freight rate change EDMONTON The Alberta government expects to receive by next week infor- mation it hopes will form the basis for western Canada's case for a change in what it calls the 80-year-old problem of freight rates. Industry Minister Fred Peacock told the legislature he will join ministers from the three other western provinces Dec. 13 in a meeting with Federal Transport Minister Jean Marchand. that if the federal government lives up to its we will have that he told Dohald McCrimmon The commitment was given by Mr. Marchand and Prime Minister Trudeau this summer at the Western Economic Opportunities Conference in Calgary. Chicago markets Wheat pool refunds for CHICAGO Commodity futures cam'e under profit-taking and speculative liquidation on major United States exchanges Wednesday. Limit losses were pubieu in soybean oil and meal and corn futures on the Board of Trade Wheat futures were down the limit of 20 cents but closed a shade higher Oats also closed a fraction off the limit Live cattle and live hog pork bellies and distant shell eggs all closed with limit losses on the Mercantile Ex- but December egg option clos- ed with a limit gain. Farm commodity futures moved in wide ranges on the board There were some buying considered a carryover from Tuesday when the major pits were up but after it had sub- profit-taking set in oil and wheat hit limit highs in the first few minutes In the last hour or so profit-taking moves quickened Com futures settled on the bottom followed by meal and oil. Commodities on the Mercantile Ex- change showed some early but when price on the board hogs and bellies fell back Limit losses were posted well before the closings Grain quotations Friday Wheat Dec Mar 4 May 4 4 15 Corn May Jul 2 Sep 2 60. Dec 2 Mar Oats. Dec 1 Mar May Jul Sep 1.26. Currencies MONTREAL Thursday's mid-day foreign exchange nominal selling rates supplied by the Bank of Montreal Australia duiiar i 50 China renmmbi 5075 Ber.rnark kroner 1578 France franc financial 2185 Germany mark .3860 Italy lira commercial .001685 Japan yen 003610 Mexico peso 0810 Spain peseta 0177 Switzerland franc 3175 United States dollar 1 0030 United Kingdom pound 2 37 U S.S.R. ruble 1 4039 Quotations in Canadian funds Dollar value MONTREAL -US dollar in terms of Canadian funds at noon Thursday was up 1-50 at 00 1-50 Pound sterling was down 3-20 at In New the Canadian dollar down 1-50 al 99 49-50 Pound sterling was down 1-5 at 7-10. farmer set CALGARY The Alberta Wheat holding its annual meeting in Calgary this announced today patronage refunds and ownership reserves totalling for its member for the 1972-73 crop year. Members who delivered rye and rapeseed to the Pool dur- ing the year will receive refunds of 1.5 cents in cash and 1.937 cents in reserves for a total saving of 3.437 cents per bushel. On forage seed purchased from members by the the refund will be 17 per cent of the dollar made up of seven per cent in and 10 per cent in reserves. On cereal seed the refund is 2.5 per cent in cash and 3.5 per cent in reserves for a total of six per cent of the dollar value. The Pool said patronage re- fund cheques and ownership statements will be mailed in the spring of 1974. New oil find in North Sea LONDON A new oil find in the North Sea was re- ported Wednesday by the Con- oco which includes Gulf Oil of the United States and Britain's National Coal Board. An estimate in the Financial Times says the find with neighboring may prove big enough to meet half Britain's total oil needs later this decade. Commons Wednesday. There have been a rising storm of complaints in the house over the tie-up in railway transportation and the lack of rolling stock to move grain and lumber. Members from the west coast and the prairies have registered their beefs over the past two weeks about the lack of equipment. They are angry that the government is turning its attention to getting oil transported across the country and not paying the same attention to moving lumber and grain. Bill Knight sought un- animous consent Wednesday to have the transport depart- ment introduce legislation that would establish an office or official with authority to order railway motive power and other railway equipment to be allotted for the purpose of ensuring that sufficient grain is in place to meet Canada's export com- mitments. But he failed to get the required unanimous con- sent for his motion. Frank Howard protested the refusal of the government to take steps to provide railway cars for lumber and lumber He said the government was pressing parliament to pass emergency legislation to move oil. He wanted emergency legislation also introduced to set up a controller with authority to order railway cars to be assigned for the transport of lumber. He too failed to get the required un- animous consent. Canadian flour sold to Russia TORONTO A com- mittee representing Canadian millers reported today it has negotiated sale of long tons of wheat flour to the Soviet Union with a contract worth about million. Delivery of the the equivalent of about 14.5 million bushels of will be during 1974. The contract is the llth con- secutive annual agreement to sell Canadian flour to Russia. VULCAN HARDWARE AUCTION SALE STOCK REDUCTION Lack of time made it impossible to complete our auction sale on Nov. 24. About two-thirds of the listing remains to be sold'and will be auctioned Dec. 8 1 p.m. AT THE VULCAN LODGE HALL ON MAIN STREET Cash the day of the with settle- ment in full before removal from the premises. MR. HAS INSTRUCTED US TO OFFER FOR SALE THE FOLLOWING LINE OF HARDWARE CHILDREN'S TOYS SPORTING GOODS Fishing and Camping Holiday Tee Pee sleeps 4. GIFT WARE Bone Stainless Steel Corning Pots and Luggage Etc. GIFT SUGGESTIONS FOR Power Garden and Automotive Products APPLIANCES Portable Washer and Hand Electric Etc. HOUSEWARE Used Color and Black and White Tele- vision Light Household Cleaning Shelf Etc. Large Quantity Exterior Paint MANY MORE ITEMS TOO NUMEROUS TO MENTION TAKE ADVANTAGE OF THIS GREAT WAREHOUSE CLEARANCE Dave McNab Lie. No. 010221 Phone 234-2206 Gerald Thompson Lie. No. 010222 Phone 627-4278 Staying in Stay with friends. Traditional Calgary hospitality starts with us. So the next time you're headed O'jr way call Zenith 6-6014 from anywhere in Alberta for reservations. It's toll free. Isn't that 9th Ave. and 1st St. next to the Calgary Tower.