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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 11, 1974, Lethbridge, Alberta Wednesday, 11, 1974 THE LETHBRIDGE HERALD 29 Industrial stocks up at mid-session TORONTO (CP) Prices were mixed on the Toronto stock market in light mid- morning trading Wednesday. The industrial index, wide- lybased indicator of market trend, was up 0.37 to 152.32. Golds fell 12.5 to 350.59, base metals 0.11 to 56.87 and western oils 0.93 to 111.67. Volume by 11 a.m. was 000 shares, down from shares at the same Tuesday. Rio Algom and Brinco re- sumed trading. Trading was halted at the opening in the common and preferred shares and warrants of Northern and Central Gas and the common shares of Canadian Industrial Gas and Oil. Northern and Central common shares last traded at and Canadian Industrial at Noranda Mines A picked up to Canadian Imperial Bank to Dofasco to and Distillers Corp. to Traders A lost to Hudson's Bay to Canadian Utilities Vt to and Bow Valley Industries 'A to Dome Mines fell to Camflo to Falcon- bridge Copper to and Pa- mour to Tara Ex rose V4 to Total Pete dropped 5 cents to and Trans-Cdn Resources IVz cents to 42Vz cents. North Canadian gained 5 cents to Market trends MONTREAL (CP) Prices were generally higher on the Montreal Stock Exchange Wednesday. Utilities rose 1.35 to 119.91, banks 0.81 to 201.71 and the composite 0.31 to Papers fell 0.17 to 102.02 and in- dustrials 0.07 to 151.08. Southam A rose to Chrysler to Bell Canada to Canadian Pacific Ltd to and Canadian Javelin V-t to while Bank National fell to Among speculative issues. Silver Stack Mines fell four cents to 86 cents after trading shares. VANCOUVER (CP) Prices were down at the opening of the Vancouver Stuck Exchange on light trading Wednesday. Volume was 93.950 shares. In the industrials. EDP Industries was down .01 at .04. In the mines. Barrier Reef down .05 at tn the oils. Plains Petroleum unchanged at .08. On the curb exchange Gentry was unchanged at .10. Prices were up Tuesday in light trading. On the industrials board. EDP was unchanged at .05; lonarc unchanged at 20: Canadian Javelin unchanged at Block Bros, rose .10 to Gestalt fell 05 to .35 and Athabasca un- changed at In the mines. Grandora rose .01 to 55; Skaist down .01 "a at .31; Arodien fell 01 to Green Eagle unchanged at 21; C'harta up 01 at .31 and Granite Mountain down .01 at .06. Most active issue in the oils was August Petroleum, down .02 at .08: Seneca Developments up .01 at .80: Payette up .01 at .16; Bison Petroleum unchanged at Rand A up .05 at .79 and Alaska Kenai unchanged at .10. Volume on the curb exchange was shares. Tapin rose .01 to Consolidated Monarch up .01 at .24: Mark V rose .05 to .85 on Channel fell .M to .06; Beermaster down .02 at .55 and Host Ventures un- changed at .30. NEW YORK (AP) Hopes that President Ford is about to announce strong anti-recession measures prompted a second consecutive stock market advance Wednesday. Trading was moderate. The noon Dow jones average of 30 in- dustrials was up 7.58 to 601.45, coming on top of a 13.93 point rally on Tuesday. Gainers outnumbered losers by about a 7-4 margin on the New York Stock Exchange. American Cynamid, the NYSE volume leader, fell 'A to On the American Stock Exchange, the market-value index was up 0.23 at 59.13. The NYSE's composite index of more than common issues rose 0.54 to 36.07. Among Canadian issues on the NYSE. Campbell Red Lake fell to Hudson Bay Vs to and International Nickel v, to Seagrams was up to Cana- dian Pacific Vt to and Alcan to Dome Mines remained unchanged at as did Hiram Walker at Winnipeg grain WINNIPEG (CP) Oilseeds led general declines in light activity at mid session Wednesday on the Win- nipeg Commodity Exchange. Flax eased as much as 14 cents a bushel, while rapeseed was down as much as 12 cents. Other commodities suffered fractional losses. MID-SESSION PRICES: Thunder Bay rapeseed: Dec. two lower 8.12A; May seven lower 8.19A; July unchanged 8.20A; Oct. 11 lower 7.84A. Vancouver rapeseed: Jan. 11 lower 8.30B: Mar. lower 8.17A: June lower Sept. 12 lower 7.83. Flax: Dec. lower 10.06B; May 14 lower I0.02B; July 13 lower 9.80A; Oct. Five lower 9.65A. Feed wheat: Dec. 'A lower May :i i lower 3.77B; July and Oct. not upon Corn: Mar. lower May unchanged 4.02A; Dec. and July not open. Barley: Dec. 1'2 lower May I31 lower 2.98A: July 2'A lower 2.95'iA. Oats: Doc. one lower 1.93'i; May lower 1.86' iB: July not open Rye: Dec. '2 lower 2.95'zA; May one lower Julv 1'i lower Hog prices EDMONTON (CP) Prices to 11 a.m. Wc-dnesdav [irovided by the Alberta Hog Producers Marketing Board. Tuesday's prices in brackets. Edmonton: 52.35 Calgary: 52.25 Lethbridge: Nil Fort Macleod: Nil Hogs sold to 11 a.m. 347. Hogs sold, average 52.62. Sows average 30.25. Feed prices WINNIPEG (CP) Wheat Board domestic feed grain prices Tuesday: 3CW red spring wheat 3.88'z; No. 1 feed barley 2.98: No. 1 feed oats 1.94Vz. Beef futures WINNIPEG (CP) Live beef futures close Tuesday. Jan 48.50A; March 48.50A; May 47.50N. Monday's volume: No contracts. Dollar value MONTKEAL (CP) U.S. dollar in terms of Canadian funds at noon Wednesday was up 1-50 at J0.98 14-25. Pound sterling was down 11-20 at 9-25. In New York, the Canadian dollar was down 1-58 at 23-50. Pound sterling was down 3-5 at 7-10. Grain quotes Tuesday Lakehead: High Low Flax Dec 1020 1015 May 1024 1015 Jiy Oct Rapeseed Thunder Bay Dec 814 811 May 827 823 Jly Oct Rapeseed Vancouver Jan 848% 839 Mar 834% 825 Jun 824V2 815 Sep 808 795 Rye Dec 297 291 May 312 305 Jly" 307 Barley Dec 301'A 298 May 392% Jly 299 Vi 297% Oats Dec 195 Vi 194 May Jly Corn basis Montreal Dec Mar May Jly Feed Wheat Dec 388 387% May 378 377 Vi Jly Oct basis Close 1015 V4 1016 993 970 814 826 820 795 841 826 Vz 816 795 296 308'A 298 299% 297% 194 187 184 388 Vi 398 402 378 388 377% 383'A Gold prices LONDON (AP) Closing gold prices Tuesday in U.S. dollars per ounce: Paris-182.29 Zurich-180.00 Hong Kpng-174.66 per kilo Gold futures WINNIPEG (CP) Gold futures. U.S. funds. Winnipeg Commodity Ex- change close Tuesday. 400-ounce contracts: Jan 75 179.00; Apr 75 184.00; Jly 75 189.00B; Oct 75 195.00B; Jan 76 200.00A. Monday's volume: 584 contracts. 100-ouDce contracts: Feb 75 180.50: May 75 185.70B; Aug 75 190.00B; Nov 75 196.20; Feb 76 203.40. Monday's volume: 181 contracts. Currencies MONTREAL (CP) Wednesday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: Switzerland Jrane United States dollar .9890 Chicago markets CHICAGO (AP) Corn and soybean futures advanced 4 to 14 cents a bushel on tho Hoard of Trade Tuesday. Wheat, oats and soybean oil, all of which had held comfortable gains, turned uneven by profit-taking in the closing minutes. Soybean meal prices were steady to just a shade higher. Prices in the soybean complex had been strong through most of the session. Soybeans were up IS cents at one time with comparable gains in oil and meal. The support came from uMiiiueiL-iai interests as weii as local professionals and commission house brokers acting for the public. The selloff was led by professionals and the commission house men. Early buying in wheat was in- fluenced by a report that Japan, Brazil and Portugal were looking for bids on wheat. Late in the session, some weakness develop. J in distant options and it was attributed to sellers in- fluenced by reports the winter wheat crop is in good to excellent condition. Strength in com came from a mixed buying element apparently impressed Dy reports that the harvest is just short of 100 per cent complete. Oats turned uneven after commercial support sagged. At the close, Chicago wheat was 3 cents a bushel lower to 3V4 higher Dec. 4.64'A, Gulf hard red wheat not traded, corn 2 to 4 higher Dec. oats lower to PA higher Dec. 1.81'A and soybeans S to 14 higher Jan. 7.36'i. The Herald Business Below a bushel in '75 Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN OILS AND MINES Alton Mines 2.40 Albany Oil .21 Alta East Gas 3.65 Alminex 4.05 Asamera 7.12V4 Ashland Oil BP Canada 7.75 Brenda Mines 2.60 Cdn South 1.51 Cdn Ex Gas 1.61 Cdn Homestead 2.00 Cdn Long Is .09 Cdn Super 22.00 Chieftan Dev 3.85 Dome Pete 16.75 Dynasty 6.25 Nufort Resrouces .11 'A Giant Mascot .48 Gibraltar Mines 4.65 Granisle 11.12V4 Gt Cdn Oil S 5.00 Lochiel Ex .85 Lytton Min .97 North Cdn Oil 2.70 Numac Oil Gas 9.00 Pancdn Pete 7.50 Pan Ocean Petrol 1.00 Paloma .70 Place Gas .16 Ponder .46 Ranger Oil Scurry Rain 11.50 Seibens 5.00 Spooner .14 Total Pete 3.65 Ulster Pete .38 United Canso 6.25 West Pete 2.45 West Decalta 2.65 MISCELLANEOUS INDUSTRIALS Acres Ltd 4.80 Aquitaine 13.25 BC Sugar C Pfd 11.50 Block Bros 3.60 Canbra Foods 2.45 Cdn Pac Inv A Pfd 24.00 Cdn Pacific Inv l2.12Vz Carling O'Keefe A Pfd Carling O'Keefe B Pfd 19.50 Comm Cap Corp 1.40 Crestbrook Forest Ind 2.25 Crowsnest Ind 16.12Vs Falcon Copper F M Trust Co 4.05 Genstar 14.75 Home Oil A Home Oil B 16.75 Hud Bay Co 10.75 Hud Bay Oil 16.00 Hud Bay Oil A Pfd 27.50 Hugh Russell Ptd 43.00 Husky Oil 11.50 Husky Oil B Pfd 30.00 Husky Oil E War 3.90 Interprov Pipe War 1.60 Interprov Steel Pipe Kaiser Res 4.15 Kaiser Res War 1.74 Loblaw Co C Pfd 21.25 Magnasonics 1.15 Pacific Pete 14.00 Pe-Ben Oilfield 2.25 Royal Trust Sandwell Teledyne Traders Group Pfd Trimac Westfield Min Weston A Pfd Whitepass Yukon PIPELINE STOCKS Alta Gas Trk A Alta Gas Trk Pfd Alta Nat Gas Gaz Metro Gas Metro A Pfd Inland Nat Gas Trans-Cda Pipe Trans-Cda A Pfd Trans-Cda B Pfd Trans-Cda War WC Trans WC Trans War CALGARY Acroll Barons Oil N. Continental Western Warner VANCOUVER MINES Bathurst Norsemines Cima Resources Dankoe Davenport Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Key industries Wardair OILS August Petroleum Plains Pete Stampede Int'l Res MUTUAL FUNDS All Cdn Compound All Cdn Dividend All Cdn Ventures Amer Growth Fund A.G.F. Special Cdn Invest Fund Eaton Commonwealth Eaton Leverage Eaton Int'l Venture Corp Investors Corp Invest Stock Fund Grouped In Shares Growth Equity Invest Growth Fund Investors Mutual Mutual Accumulating Nat. Resources N.W. Cdn. N.W. Growth Principal Growth Royfund Templeton Growth United Accumulative Universal Savings Vanguard 21.00 3.50 3.80 9.75 3.50 .45 45.00 9.25 54.00 14.75 4.50 50.00 7.50 9.25 50.87 'A 27.62% .48 18.25 1.60 .20 .04 .01 .80 .26 2.00 .57 3.95 1.57 .09 .03 .90 4.00 .07 1.25 .08 .08 .55 4.77 4.86 2.00 3.54 1.74 3.60 10.85 2.36 4.08 4.73 3.43 2.33 3.24 8.73 4.25 4.76 3.34 3.84 3.43 3.00 5.06 6.08 3.30 6.05 3.61 Toronto mines, industrials (Supplied by Richardson Securities ot Canada) MINES Acme .06% Advocate Asb. 1.10 Akaitcho 1.46 Bralome 1.15 Broulan Bethlehem 9.00 Bovis .86 Brunswick 3 65 Can. NW Land 2.00 Canada Tung. 2.30 Cassiar 3.60 Central Pat. .70 Chimo .80 Conwest 2.16 Cons. Rambler 1.50 Coin Lake .13 Cochenour .92 Craigmont 3.05 Dickenson Mines 6.75 Denison Mines 34.50 D'Eldona .20 Dome Mines 43.75 Discovery Mines 1.50 East Malartic 2 75 East Sullivan 1.50 Falconbridge 23.75 Frobex .10 First Maritimes 35 Giant Y.K. 9.75 Granduc 81 Hollinger A Hudson Bay A 12.25 Hydra Ex. .36 Iron Bay 3.80 Iso .65 Joliet Quebec Kerr Addison 9.12Vi Key Anacon Labrador 23.00 Lake Shore 3.40 Langis Silver .06 Madsen R.L. 45 Malartic G.F. 1.00 Martin McNeely .25 Maclntyre 3125 Meta .09 Midrim .06 Intern Mogul NuWest Homes 4.75 New Athona .17 New Calumet 14 Noranda 28.00 Northgate 2.95 Norlex .16 Pine Point 24.75 Placer Dev. 14.50 Pax Exp. 1.05 Quebec Man 1-3 Rayrock .70 Radiore .16 Rio Algom 20.37 fe Roman Corp. 8.00 Sherritt Gordon 4 45 Steep Rock .88 Sunningdale 2 85 Tek Corp. A i 90 Texmont .12 United Canso 6.12Vi Western Mines 2.07 WH Copper Mines 1.40 Wright Hargreaves 1.35 Willroy 140 Windfall Yellowknife Bear 1.68 Zenmac Q5Vi TORONTO INDUSTRIALS Abitibi Alcan Algoma Steel 22.75 BANKS Atco Ind 10.50 Cdn Imperial Agra Ind 4.15 Montreal Bell Tel 44.50 Nova Scotia Brascan A 9.87Vi Royal BC Tel 46.50 Toronto-Dom Burns BC Forest BC Sugar Bow Valley Ind Cable CAE Ind Calgary Power Canbra Foods Can Cellulose Carling O'Keefe Chemsell Coronation Credit CWN Gas Pfd Cdn Industries Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glendale Mobile Grt.Cdn Oil General Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie Imperial Oil imasca A Int Nickel Int Pipe Inv Grp A IU International IAC Jannock Kaps Kelly Douglas A Laurentide Loeb Loblaw A Metropolitan Massey Ferg McMillan Bloed Moore Corp Molsons A Molsons 3 Nachurs Peyto Power Corp Price Co Rbthmans Shell Cda Simpsons Simpsons 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 11.00 13.50 9.50 7.00 2.45 3.80 1.90 3.60 1.55 8.25 16.50 2.75 11.50 7.75 23.62 Vi 14.25 31.62 Vi 17.00 20.12% 6.50 15.25 16.50 20.37'A 1.25 4.90 29.75 15.00 19.62Vi 11.62% 4.00 34.75 24.25 19.75 23.62'A 20.00 5.25 9.12 Vz 5.12V4 1.05 4.50 6.00 2.00 5.00 10.75 23.00 38.25 12.50 11.75 6.25 2.15 8.25 13.00 9.00 6.62% 23.50 11.00 25.00 8.75 9.25 13.58 7.37% 7.62% 2.15 4.75 17.75 18.75 17.00 20.00 11.50 25.62% 31.00 New York (Supplied by Richardson Securities of Canada i Amr. T T 43.50 Woolworth 8.50 Anaconda 13.50 Westinghouse Elec 3.62% Beth Steel 14.67V, Li S. Steel 36.75 Chrysler 7.87% Gen Tel Elec 16.87% Comsat 28.62% TORONTO AVERAGES Dupont 89.00 20 Industrials 152.71 up .76 General Motors 30.62% 20 Golds 349.50 down 13.60 Gulf 16.50 10 Base Metals 56.49 down .49 Int Harvester 20.37% 15 Western Oils 111.07 down 1.53 Kenn Copper 36.37% volume Montgomery Ward 44.25 NEW YORK AVERAGES Sears 1450 20 Industrials 601.53 up 7.66 Exxon 61.50 ?0 Rails 142.44 up 1.77 Texas Gulf 2712% 15 Utilities 68.06 up .51 Texas Co 21.00 65 Slocks 196.29 up 2.32 Wix Corporation 8.25 Volume Wheat price cut in U.S. warned SPOKANE, Wash. (AP) A possible world wheat sur- plus next year may lower wheat exporter said Tuesday. Wheat Associates in Portland, The lower prices would Ore., told the Washington probably not be reflected in Association of Wheat wheat prices in the United bread prices, Richard K. Growers. States below a bushel, a Baum, president of Western Wheat has been selling for No natural gas shortage in Ontario until mid-1976 TORONTO (CP) George Carpenter, vice-president and general manager of Con- sumers' Gas Co. Ltd., says his company expects Ontario will not feel any shortage of natural gas before mid-1976 provided the present rate of demand continues and there is no reduction in supplies from Alberta. Wheat reserves may be lowest in two decades WASHINGTON (Reuter) Despite a record U.S. wheat harvest this year, reserves at the end of the crop season are likely to be among the lowest in two decades, the U.S. agriculture department said Tuesday. It's final estimate for 1974 said total production this year was a record million bushels, up slightly from earlier predictions and five per cent above last year's previous high. Although exports have slowed, reserve stocks when the current season ends next June 30 still seem likely to be at their second lowest level in more than 20 years. They reached a 23 year low last summer after heavy export Share offer VANCOUVER (CP) The Bank of British Columbia an- nounced Tuesday it will issue rights to its shareholders to buy additional common shares at a share. The issue will be shares which will add million to the bank's capital base. Shareholders of record Dec. 20 will be able to buy one new share for each two shares held until Jan. 31, 1975, when the rights will expire. sales in 1972 and 1973 ate deep- ly into the large reserves held during the 1960s and early 1970s. The department said prospects were generally bright for the new winter wheat crop to be harvested next summer. Department analysts said that with better conditions than last year, prospects are good for an additional two million acres, or four per cent more, to be planted in winter wheat, which accounts for about 75 per cent of U.S. production. This year's average yield was a disappointing 27.4 bushels an acre. Given more normal conditions for both this winter's and next spring's wheat crops, the experts say total wheat output in 1975 may climb to a record 2.1 billion bushels. ADD TO PORTFOLIO TORONTO (CP) Manufacturers Life Insurance Co. has added three new buildings worth about million to its United States real estate portfolio. The com- pany's U.S. real estate port- folio, including the new ad- ditions, amounts to nearly million, while in Canada the portfolio is million. He was commenting in an interview Tuesday on remarks by Ontario Energy Minister Darcy McKeough to the National Energy Board. Mr. McKeough said Canada's natural gas supplies will fall short of demand in 1975 and worsen until 1978. Mr. Carpenter said his com- pany's contract to provide gas to municipalities in the central and eastern portion of Ontario runs until 1978. "This year, all of us have lots of natural he said. Consumers' increased its rates Tuesday by an average of 20 per cent to its customers. The increases, ap- proved by the Ontario Energy Board, are 16 per cent for residential users, 20 per cent to commercial customers and slightly more than 25 per cent for industrial users. Mr. Carpenter said the million raised in extra revenue will be paid TransCanada Piplines Ltd. about a buJiel in recent weeks in Portland. NO CHANGE The historical tendency has been that once the price of bread has been established, it rarely goes down significantly, despite fluc- tuations in wheat prices, Baum said. Any savings to bakers from lower priced wheat might be offset by higher costs of other ingredients, including sugar, shortening and labor, the ex- porter said. Wheat prices can be ex- pected to remain strong through the current marketing year if farmers hold out for prices at about their current levels, he said. As for a wheat surplus, Baum said "it's about a 50 per cent chance we could start building up a surplus at the end of next year." Baum said northwest wheat farmers are "planting from fence to fence" and could help boost the U.S. to a record wheat crop of 2.2 billion bushels next year, up from this year's almost 1.8 billion bushel crop. Rail car production delayed Farmers urged to dry grain OTTAWA (CP) A con- siderable amount of grain will have to be dried on farms even if grain drying facilities at terminals work around the clock, seven days a week. Otto Lang, minister responsible for the Wheat Board, said Tuesday. Mr. Lang told Stan Korchinski (PC Macken- zie) that the Wheat Board is conscious of the problem of large amounts of damp grain and is urging farmers "to do a lot of the drying themselves." SQUAMISH. B.C. (CP) Production of the first rail car at British Columbia Railway's car construction plant has been delayed until the strike by 550 shopcraft workers is finished, a corporation spokesman said Tuesday. The first car was scheduled to go into production Dec. 2, after other labor disputes and supply problems forced the government owned railway to abandon its original start up plan for January, 1974. The shopcraft workers went on strike Nov. 21. The spokesman said B.C. Rail now hopes to start production in early spring. The plant will employ about 250 people and produce 800 to freight cars annually. It has an initial order for 400 woodchip cars for B.C. Rail, the spokesman said. Some days we don't sell any insurance. That may seem a bit strange, but then, we offer a lot of things other than life insurance. For instance, we offer some excellent financial planning programs. We can show you how to minimize taxes through income averaging annuities. We'll show you how the capital gains provision of income tax legislation affects you. We'll show you how to take the right steps to protect your capital. And we can custom- tailor a Registered Retirement Savings Plan to meet your specific objectives. And that's just a part of our financial planning services for individuals. We can also offer a comprehensive Business Planning Service, including employee benefit programs, to the businessman. In short, we do a lot more than M. C. "Matt" Slavich, CLU 327-5514 Eric 327-5514 sell life insurance. So maybe it's time you started thinking of us as something more than just life insurance men. You'll be surprised how helpful we can be. Tlu; Mnnufiicturiiis Lilt; Insur.inco Thinking with you. To: The Manufacturers Life Insurance Company Suite 740-4th Ave. S.. Lethbridge. Alberta I'd like to know more about: Income averaging annuities. I___I Business planning services. I___ How to protect my capital. NAME_________________ Deterred profit shmmg plons. L Capital gams taxes. Flexible Registered Retirement Annuity. Life insurance I 1 (yes. we sell that, too.) I I ADDRESS_____ CITY ........__ PROV. _______ POSTAL CODE PHONE .._____________ ;