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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 18, 1974, Lethbridge, Alberta Industrial stocks up; golds ease TORONTO (CP) Prices on the Toronto stock market were mixed in moderate mid- morning trading Wednesday. The industrial index was up 30 to 153.64. Gold snares pull- ed back slightly from recent strong gains, with the gold index off 3 63 to 405.70. Base metals fell 12 to 55 58 while the western oil index was un- changed at 114 25 In industrials, Moore rose to Occidental Pete V2 to Texasgulf to Labatt A to ftSVz and Ashland Canada to Bright A fell Vi to Andres Wines Vz to Drummond McCall A Vz to J13V4, Noranda A VZ to and Hudson's Bay Co. to Dome Mines lost Vt to International Mosul A to and Dickenson Vg to Camflo gained Vt to J13V4 and Preston to Canadian Homestead dropped eight cents to and Chieftain five cents to United Canso rose to The Business Wednesday, December 18, 1974 THE LETHBRIDGE HERALD 27 x million locomotive program CP Rail 'robot' fleet completed Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited CALGARY (CP) CP Rail has completed a program of adding 15 "robot" locomotives to its fleet which will "substantially" increase the railway's hauling capacity on the west-bound mainline traffic from Calgary. Trains travelling west from Calgary are subject to four sections of steep grades in eastern British Columbia, which limit the hauling capacity to tons. Market trends MONTREAL (CP) Prices were generalK lower at the open of light trading on the Montreal Stock Ex- change Wednesday Canadian Pacific fell 'A to Price to and Chrysler V8 to while Imperial Oil A rose '4 to J23's and Shell Canada to VANCOUVER (CP) The market was down in light trading at the open today on the Vancouver Stock Ex- change Volume was shares In the industrials Bank of British Columbia was unchanged at 18 In the mines Green Eagle was down 02 at 16 In the oils, Pajette was down 02 at 10 On the curb exchange, Decade was down 01 at 26 Volume was shares Prices were up Tuesday in light trading Closing volume was shares In the industrials, EDP was un- changed at 04 Port Communication unchanged at 25 lonarc down 06 at 15 N'ewmark unchanged at 48 Cana- dian up at 37'z and Block Brothers up 15 dt S3 45 In the mines Colby down 01 at 54 Green Eagle up 01 at 18 Gran- dora down 04 at 43 BX Developments down 08 at 50 Con- solidated Beaumont unchanged at 24 and Senesta up at In the oils Bison up 05 at Cop-Ev unchanged at 13's Alaska Kenai un changed at 07 Monterey A down 01 at 09 Rand A down 02 at 80 and Plains Petroleum down 01 at 07 Curb volume was 514 699 shares Tapin up 14 at 90 Aragon up 16 at 3b Bt.ermaster up 03 at 43 Trevlac down 01 at 74 Abaca up at 40 and New Wellington down 04 at 05 NEW YORK (AP) Stock prices advanced sharply in brisk trading Wednesday, inspired by what brokers described as seasonal factors and recognition of the market's un- derlying strength The noon Dow Jones average of 30 industrials was up 7 59 at 605 13 In a burst of early session trading the blue-chip index rose over 8 points before settling back a bit The NYSE composite index advanc- ed 31 to 35 89 Among Canadian issues on the NYSE, International Nickel was up to Massey Ferguson Va to Canadian Pacific Mi to and Seagrams to J31% Campbell Red Lake dropped 4i to Dome Mines to and Hiram Walker Vi to Winnipeg grain (CP) Activity con- tinued extremely light with little price ihanges through mid session ednesdav on the Winnipeg Commodi- ty Exchange Thunder rapeseed and corn were not open while only scattered months of other commodities were ac tue MID-SESSION PRICES Thunder rapeseed Dec May Juh and Oct not open Vancouver rapeseed Jan '2 higher 0 48A Mar '2 lowers W'-iA Juneone lower 8 28' jA Sept two higher 8 02B Flax Max J, higher 10 17 Dec JuK ard Oct no! open Feed wheat Der unchanged 3 83A Mav one lower 1 77A Julv and Oct not open Corn Dec unchanged j 908 Mar unchang cd 3 9aA Mav unchanged 3 99A, July not open Barley Dec V4 higher 2 91' 4 A May unchanged 2 93 July not open Oats Dec unchanged 193A Mav i higher 1 86B July unchanged 1834 Rye Dec l'i higher 2 94B, higher 3 09A Julv 1'z higher 3 04B Oct unchanged 2 96A Chicago markets CHICAGO (AP) Most commodity futures declined on the major United States exchanges Tuesday, and for the second consecutive day there were some that closed on limits lower World sugar futures were down the limit two cents a pound as some of the national chains were reporting resistance to high sugar prices Corn futures fell the limit 10 cents a bushel Soybean oil futures, which had been up the limit 100 points closed with about half of the gain trimmed by profit takers The declines in futures were ascrib- ed to a lack of sustained buyer interest, strength of gold but weakness of the U S dollar abroad and to domestic and world economic problems Copper futures which had fallen to a 22 month low Monday closed on a relatively steady tone Silver futures were strong through most of the New York and Chicago sessions, then closed with losses of about seven to 10 cents an ounce Cotton, cocoa and orange juice futures also declined At the close on the board of trade, corn was. 2 to 10 cents a bushel lower, December 3 43V2 oats 1 to 4 lower, December 179V2, Chicago wheat 7 lower to 1 higher December 4 53, Gulf wheat did not trade and soybeans were 5 to 10 lower January 7 35 Gram quotations Tuesday Wheat DPC 453 Mar 468, May 465 JuI425 Sep431 Dec 4 42 Corn Dec 3 Mar 3 51V2, May 3 55, Jul 353 Sep J33, Dec 295 Mar 299 Oats Dec 179Vz Mar 174% May 1 72'i Jul 170 Sep 164, Dec 167 WESTERN Oilfield 90 AND 50 Afton 60 1 Albany 40 Alta East 20 Traders Grp 75 65 50 Westfield 00 Weston A 00 BP 87V4 White 75 Brenda Mines Cdn 60 PIPELINE STOCKS 1 60 Alta Gas Trk 87 Vi Cdn Ex 80 Alta Gas Trk 00 Cdn 30 Alta Nat 00 Cdn Ind Gas 00 Ga7 Cdn Long Gas Metro A Cdn 00 Inland Nat 87 Va Chiettan N S C 50 Dome N C Gas B 67 Vi Trans-Cda 00 Trans-Cda A 00 Giant Mascot Gibraltar Trans-Cda Pipe B Pfd 3 90 Trans-Cda 41 WC 25 Gt Cdn Oil WC Trans 60 Lochiel Lytton 25 North Cdn 61 Numac Barons vz 04 Pancdn 62Vi N Pan 75 Western 00 Place Bathurst Cima Ranger Qn Scurry Rain Davenport 5 25 55 3 65 Northair 55 Total 80 -j Ulster Pete United Pyramid 700 Silver 89 West Pete West Decalta MISCELLANEOUS Valley Copper 284 INDUSTRIALS Key Industries 07 1 35 Acres 35 Aquitame BC Sugar C August Petroleum 1150 Plains 07 Block Bros Can bra Foods Cdn Pac Inv A Pfd Cdn Pacific Inv Carlmg O Keefe A Pfd Carlmg O Keefe B Pfd Comm Cap Corp Crestbrook Ind Crowsnest Ind Falcon Copper F M Trust 40 Stampede Int I Res 235 MUTUAL FUNDS 23 75 All Cdn Compound 1200 All Cdn Dividend 1550 All Cdn Ventures 18 00 Amer Growth Fund 1 45 A G F Special 235 Cdn Invest Fund 1637V4 Eaton Commonwealth 5 50 Eaton Leverage 4 00 Eaton Int i 486 495 202 352 1 74 365 1085 237 4 12 Corp 59 Home Oil A Home Oil B Hud Bay Co Hud Bay Oil Hud Bay Oil A 7 25 Corp Invest Stock Fund 1600 Dreyfus Fund U S 1162Vi Grouped In Shares 1800 Growth Equity 2778 Investors Growth 801 238 433 8 91 Hugh Russel Investors 30 Husky Oil Husky Oil B Mutual Accumulating 28 00 Nat 333 Husky Oil E NW Interprov Pipe 50 N W Irterprov Steel Principal Kaiser Ka'ser Res 85 Templeton 14 Loblaw Co C United Umve-sai Pacific 75 Coal firms sign mine agreement Toronto mines, industrials (Supplied by Richardson Securities ot Canada) Livestock Calgary Grdin quotes Tuesday basis High Low Flav Dec 1067 May 1055 1044 Jly _ _ Oct _ Rapiseed Thunder Baj Dec Mdv 841'j 835 _ Oct Rapeseed 855'2 Mar 847V; Jun 837 825'4 Sept _ Rve Dec 29b 2923, 306 Jh 303'a Oct _ Barlej Dec 2S2 29034 ?94'4 29234 Jl> 292 291 Oats Dec 193 Mav 18534 185 Jlj _ _ Corn basis Montreal Dec Close 1067 1046% 1015 980 810 835 820 784 847'4 829V, 800 Wheat Dec 387 Ma> Jlv" Oct 183 307 "2 302V2 296 291 293 291 193 185 ".2 183 390 395 399 376 383 378 379Vj 333 V2 Gold futures (CP) Gold futures F funds Winnipeg Commod.ty Ex- c'.jw close Tuesdav 400 01 MfE CONTRACTS Jan 75 18920, Aor 75 19465 Jly 209 s 691 contracts 10.1 Oi V K CONTRACTS, t eh 192 JOB 197 75 7 1 Ai2 40 Nov 75 206 50 r eb 76 .11 1 SOB Mondav s volume 195 contracts Metals iAP) Tuesday closing iKt.ils n jid sterling per metric ton in pence per troy ounce Cupper Spot futures 555- Tin Spot 3 futures 3 030- Lead Spot 228 75-229 futures 215 25- 21575 Zmr Spot m 5 332 futures 9- s.Nor Spot 192 1-192 5 3 months 198 1% i CALGARY (CP) Receipts to 11 a m Wednesday from tne Carga.j. public stockyards totalled about head including a large run of slaughter cows a moderate run of heavj slaughter steers and slaughter heifers Steers traded a dollar lower with a moderate local and eastern demand Heifers traded 50 cents lower with sales to 39 20 All classes of tows trad- ed steady, kind and condition con- sidered Steers Al, A2 47-48 60, AJ 45-47 Heifers Al, A3 35-37 Cows Dl, D2 20-22, D3 17- 20 D4 13-17 There were too few feeder cattle and stock calves sold to 11 a m to establish a market There were no hogs sold to 11 a m Currencies MONTREAL (CP) Wednesday's mid day foreign exchange selling rates supplied by the Bank of Montreal France franc 2260 Germany mark 4190 Japan yen 00340 Mexico peso 0805 Switzeiland franc 4070 United States dollar 9920 United Kingdom pound 2 3400 USSR ruble 1 3026 Quotations in Canadian funds Hog prices EDMO.NTON (CPi Prices to 11 a m Wedneiday provided by the Alberta Hog Producers Marketing Board Tuesday s prices in brackets Edmonton 51 40 (51 68) Calgary 51 35 (51 53) Lethbndge Nil (51 54) Fort Macleod Nil (5135) Hogs sold to 11 a m 212 Hogs sold Tuesday average 5155 Sows average 31 25 Dollar value MONTREAL (CP) US dollar in terms of Canadian funds at noon Wednesday was down 1 25 at JO 98 9-10 Pound sterling was up 'A at 31 31-50 In New York, the Canadian dollar was up 1-25 at 0111-100 Pound sterl- ing was up 3-5 at 34 1-5 Feed prices WINNIPEG (CP) Wheat board feed gram prices Tuesday 3 i Tnng wheat 3 No. 1 feed barif j 2 91, No 1 feed cats 1 93 Beef futures WINNIPEG (CP) Live beef futures close Tuesday Jan 4800A, March 4D25N May 48 OON Monday's volume Two contracts 1 i 00 Wes'ons Alcan Algoma Steel Atco Ina Agra Woodwards A 2425 BANKS 1000 Can Imperial 4 05 Montreal Bell Tel Brascan 25 Nova Scotia 9 75 Royal BC 25 Tor Dom 37Vs MINES BC Acme BC Advocate Asb Bow Valley 12V4 Akaitcho Bralorne CAE 00 Broulan 1 Cal Power Canbra 00 Bethlehem 2 35 Bovis Can 75 Brunswick Carlmg O 80 Can NW Land Chemcell Coron Canada Tung 1 55 Cassiar CWN Gas Central Pat Cdn Chimo Cdn 50 Conwest Cdn 00 Cons Rambler Com Lake Cochenour Commco Cons 50 Craigmont 23 00 Dickenson Mines Cons Gas Dist 37Vi Denison Mines 31 12% D'Eldona Dom 00 Dome Mines Domtar Dom 75 Discovery Mines 650 East Malamc Dom East Sullivan Dome Pete Falconbndge 20 50 Frobex Glen 75 First Mantimes Grt Cdn G.ant YK Gen 25 Granduc Grt Lakes Hollmger A Gulf Oil Greyhound Hawker Sid Hiram Walker Hudson Bay A 1 1 50 Hydra E> 390 Iron Bay 34 Iso Huron 00 Johet Quebec Imperial Oil Kerr Addison imasca Key Anacon Int Labrador Int Lake Shore Inv Grp Langis Silver lu Madsen R L IAC Malartic GF 85 Martin McNeely Kaps Kel Douglas 10 Maclntyre 4 50 Meta 00 Midnm Intern Mogul Loblaw A NuWest Homes 1075 New Attiona Massey Ferg McMill New Calumet 22 00 Noranda Moorep Corp Molsons 50 Northgate 1200 Norlex Molsons Pine Point Placer Dev North Pax Exp 15 Quebec Man Power Rayrock Price Radiore 00 Rio Algom Shell CDA 1 Roman Corp 625 Sherntt Gordon Simp Sears Steel Can A Selkirk 00 Steep Rock 2362V2 Sunnmgdale 1050 Tek Corp A 75 Texmont Trad Grp United Canso i rans Mtn 25 Western Mines Trans Can Pipe Union Carbide Union WH Copper Mines 1425 Wright Hargreaves 6 75 Willroy Union 00 Windfall United 20 Y. lowknlfe Bear Versatile 85 Zenmac 21 50 1800 1700 21 25 11 25 3425 24 62Vj 31 75 06 1 00 1 60 1 35 31 900 76 350 212 245 240 66 75 200 1 52 14 98 300 775 3512% 20 4850 205 325 1 50 2325 08 35 11 50 85 2250 1350 52 390 55 16 9 37% 17 2250 390 05 46 91 2850 08 07Yz 1 80 490 18 11 2800 275 10 2475 1400 105 14 76 15 2000 8 12% 425 80 260 1 80 13 fi 1 52 130 1 40 1 52 09 1 52 05 VANCOUVER (CP) Kaiser Resources Ltd and Fording Coal Ltd. have signed an agreement under which Kaiser Resources will provide hydraulic coal mining technology for a proposed un- derground mine to be developed by Fording near Elkford, B.C Edgar F. Kaiser, Jr., presi- dent and chief executive of- ficer of Kaiser Resources, and M. Norman Anderson, presi- dent and chief executive of- ficer of Fording Coal, said the sub-licencing agreement is the first to be signed under a multi-national licencing agreement on hydraulic coal mining signed in Moscow Nov. 16 between Kaiser Resources, the Soviet Union and Mitsui Mining Ltd. of Japan. Airline sells three planes MONTREAL (CP) An Air Canada vice-president said Tuesday that the airline has sold three of its aircraft to a syndicate of Canadian investment houses and is leas- ing them back to obtain funds at a rate lower than current interest rates. Michael Cochrane, vice- president finance, said in an interview that the airline will realize about million from the transaction, providing it with a new system of financ- ing some of its aircraft at a lower cost The Crown corporation has obtained capital funds in the past from the federal government, short-term borrowings from Canadian banks and export financing agreements with foreign governments Under the Moscow agreement, Kaiser Resources, the Soviet Union and the Mitsui mining will combine their hydraulic coal mining technologies, market the combined technology internationally to other producers, and share equally in royalties from such sales. Kaiser Resources currently operates North America's only hydraulic coal mine, which utilizes a system developed with Mitsui. In hydraulic coal mining, coal is extracted from sloping un- derground seams by the force of high-pressure jets of water. Dislodged coal is then tran- sported in water through flumes by the force of gravity or mechanical pumps to a dewatering plant where the water is separated from the coal and recycled in the mine The hydraulic mine to be developed by Fording coal will be the company's first un- derground coal mine. Fording now operates a surface mine in southeastern British Columbia, about 35 miles north of Kaiser Resources' surface and underground operations near Sparwood. In exchange for the hydraulic coal mining technology, Kaiser Resources and its partners will receive from Fording 30 cents for each clean long ton of coal produced from the mine by hydraulic mining, up to a maximum of 6 million The 30 cents will be shared equally among the partners LINK TERMINALS TORONTO (CP) Bristol- Myers Products Canada, a division of Bristol-Myers Canada Ltd has signed with Datacrown Ltd., a national computer service company, for all its data processing Trains travelling from Van- couver are not affected by the grades, which are in a "downhill" position for east- bound trains. CP Rail officials said Tues- day that the railway now has 26 "robot" locomotives, which are placed in mid train and give booster power when called to work through a com- puter system by "master" locomotives at the head of the train Trains travelling west up Expensive to live in Tokyo OTTAWA (CP) Tokyo is the most expensive place to post a government employee and Pretoria, South Africa, the cheapest among major cities surveyed by Statistics Canada to compare the cost of living. The agency surveys 22 cities comparing prices for such family expenditures as food, household supplies, domestic help, communications, clothing, transportation, rec- reation supplies, tobacco and alcohol Several major expenses are not included and so the scale produced by Statistics Canada does not compare the cost of living in the various cities. Rent and utilities are not counted because government employees get subsidies in high rent cities Income taxes are not counted because Cana- dian civil servants pay Cana- dian taxes when posted abroad. Prices were compared with Ottawa and only in Pretoria are prices about the same None were cheaper Tokyo was 55 per cent more expensive. Next were Geneva, 45 per cent more expensive; and Stockholm, 40 per cent more expensive Washington and London were five per cent more ex- pensive and New York 15 per cent Brussels, headquarters for the Commons Market, and Pans were 30 per cent more expensive, while Rome was 15 per cent. the grades are capable of hauling tons if they are equipped with "robots." The 5 million program also includes equipping 30 more locomotives as "master" locomotives CP Rail now has 53 "master" locomotives on the Calgary Vancouver run. Earl Olson, CP Rail spokesman in Calgary, said the railway's long term plan is to build 40 miles of new tracks to bypass the steep grades 11 miles between Salmon Arm and Notch Hill, four miles between Revelstoke and Clanwilham, six miles between Lake Louise, Alta., and Stephen, B.C and 19 miles east of the Rogers Pass CP Rail plans to lay the new tracks by 1980 and "if all goes as planned, there will be a 100 per cent increase in the capacity on the Calgary Van- couver mainline by Mr. Olson said. Loan Cuba money for oil tankers OTTAWA (CP) The Ex- port Development Corp (EDC) has agreed to lend up to ?24 million to finance 80 per cent of the sale price of three oil tankers to Cuba, it was an- nounced Tuesday. M F. Cote, Liberal member of Parliament for Richelieu riding, announced the agree- ment between the EDC and Banco Nacional de Cuba in the absence of Alastair Gillespie, minister of industry, trade and commerce The three tankers will be built by Marine In- dustries Ltd. of Tracy, Que and are scheduled for delivery in June and December, 1977, and June, 1978 Financing to cover the construction period of the vessels will be provided by the Bank of Montreal and the Ban- que Canadienne Nationale Repayment of the loan is to be made in 16 semi-annual in- stalments commencing six months after delivery of each tanker Someday 327-5514 Eric 327-5514 Amr T T Anaconda Beth Steel Chrysler Dupoit General Moiors Gulf Int Harvester Kenn Copper Montgomery Ward Sears Exxon Toras Gulf Tr