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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 19, 1972, Lethbridge, Alberta Tu.iday, Dtcember 19, 1972 THE lETKBF.IDGt HKALD Industrial stocks pace active trade Toronto mines, industrials (Supplied By Itkharo'wjn Securities of Canada) LAST BIIJ OR SALE W-.Vl 8 G'Jtftl) a.rr. B.n. 1! TORONTO fCP) With in- dustrial stocks leading the ad- vance, prices on the Toronto stock market posted moderate gains in active mid-morning trading today. Trie industrial index, coasid- ered a major indicator of mar- ket trends, was up .40 to 213.19 and golds .30 to 189.24. Base metals were off .02 to 82.56 and western oils .29 to 271.68. Volume by 11 a.m. was 000 shares compared 000 traded by the same time Monday. Bajik, beverage, oil refining arid pipeline stocks were among sec-ton of the market recording the strongest gains. Declines, however, were lead- ing advances 1.15 to 92 whiie issues remained unchanged. Cariadian Tire A rose to Analysts bond market to continue strong in 1973 TORONTO (CP) The Ca- nadian bond market should continue strong into 1ST73 and any major changes in pattern will depend greatly on federal government fiscal policies, analysts say. Prices moved steadily lower during the first half of 1972 as yields rose. One dealer said the decline was due to "in- flat ion fears in spite of good market performance." Confidence returned about LIVESTOCK REPORT Lerhbrideja Livestock Monday's sales hogs. All classes of weaner and feeder hogs met reasonably good de- mand with prices ranging from SI krA-er to Si higher. Weaners 13.25-12; light feeders under 100 Ibs 20.50-29.75; heavy feeders 100-130 Ibs 27.2.5-27.50; heavy feeders over 130 Ibs. 3M3. Light feeders under 100 Ibs sold from 30-38 .2.5 per cwt; heavy feeders over 100 Ibs 25-30 per cwt. Butcher sold Monday at the Lethbrirfge yards 33.50-33 base price. Calgary livestock Ml, Imperial Oil to H8H, Al- berta Gas Trunk Vi to IK, Sif- ton Properties rs to W and Royal Bank to SMri. Canadian Corporate Manage- ment A slipped IVi to Sla- ter Walker to Holiday Inris to Faico.ibridge Nickel to 553 and Eltc- tronome H to Mattagami climbed :a to K7, Roman Corp. 20 cents to and 10 cc-nts to Tara Exploration dropped to and Craigmont 5 cents to i I LIGHT TKADE j MONTREAL 'CP) All sec- tors advanced in light trading i on the Montreal stock market i today. i Combined volume on the Mon-1 treal and Canadian stock ex- changes at H a.rn. was shares, compared with 315.300 at the same time Monday. Industrials rose 1.27 to K3.I1, the composite -M to 230.S3. pi- pers .32 to 100.24, utilities .15 to 1W.W banks .07 to 240.43. On the Montreal Stock Ex- change, Moore Corp. I to Imperial to i DistiHers-Corp. ;s to S40'i while Nickel dropped to 853. j On the Canadian Stock Ea-.> Ei-.t I'.' :lf: No fanfare for Britain's official entry into ECM than KM billion compared with iO.M billion in vm. Analysts say the turning point for the market was the agreement to place a SVi-per- cent ceiling on bank current iSs'l Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCnaig Limited) LAST BID OR SALE LONDON (CP) Britain will slip into Europe on New Year's Day with neither pomp nor cer- emony. No trumpets will sound i in BraseLs or Rome. Eu- I ropeans will observe their tradi- tional holiday and European i Common Market offices will be shut. For the many Britons still uneasy about the corning close association with the Germans, Italians. French, Belgians and Dutch, the day may pass al- most painlessly. Immigration restrictions will ease but no ar mies of welters are waiting to move in or out of Europe. British travellers will still i have to show their passports at j tiie customs gates. Tne govern- ment plans no distribution o: national identity cards such a: those issued among the Com mon Market partners. Tne only tiny joy on that day is that re- turning Britons may bring little more duty-free whisky and wine. For some weeks there have >een questions about how the increase of the six Common >tarket partners to nine mil be marked. ernments merely performing the ritual of depositing the arti- cles of ratification. Two days after the event, Britain will launch its fanfare for Europe, mainly a series of mid-year and most issues managed to return to their 1971 closing levels by Dec. 1. Canadian government, pro- vincial, municipal and corpo- rate financing for the first 11 months of 1S72 totalled more Peter Campbell o Port facil- ities at Prince Rupert and tension of rail lines into north- ern British Columbia are among the modes of trans- il-1 pnrUU !X- heifers were steady with choice kinds offered. Cows were mostly medium and canner kinds with canr.ers 51 higher and other grades steady; bulls were steady. Choice slaughter steers 37.23 to S3, good Vj to 37, medium 34.25 to 35.73. Good heifers S4 i WXl. Tne price-change at to 34.90, medium 32.30 to 33.75. the American Stock Ezchange Good cov.s K to 27, medium down 0.04 to 25.75 to 25.75, canners and cut-! ters 19 to 23.50. Good bulls 28 to S3.75. Replacement cattle were mostly heavy, short-keep steers yft pounds and more selling at steady prices. Insufficient stock change index of some common stocta was off to Grain prices C-yp 1-ves S F J- Yorfc stocks (Supplied By PJchardson Secnritie! ol Canada) .5I .77 isi.a u.c. Winnipeg Grain rep) TOROfiro AVERAGES Good feeder steers more than 7V) pounds to 33.30. God feeder heifers 33 to 35. GfXjd stock a.rri feeder cov.s 23 to 20. Hogs base price M-B dividend rate restored cm the Co Exchange the of the market some irr.- firm, fr action v, barley fluctua.Wi economic marginally. I i of r; plans approved I Quebec okays financial aid lo fanners QUEBEC fCP) Legislation allowing the Quebec govern- ment to help farmers get loans was passed Monday in the na- tional assembly. Tne government will guaran- tee any loans taken out by farmers. In disaster-stricken areas, the government will pay the interest on the first six months of a loan and half the interest for the rest of the loan's term up to four years. Agriculture Minister Nor- mand Toupin said as crop in- t s'jrance covers only losses in I feed grains, corn, cereals, to- bacco and sugar beets, the new legislation brings greater aid to j the farmers. I Tne minister also said he hopes to sign an agreement v.ith the federal government i winereir.' it would pay half .on needed to develop the resources of the Canadian Northwest, says a study re- leased Monday by the transport department. Tne study was designed to identify the types of trans- portation facilities needed to de- al Dease Lake "for s suitable- period" to allow mineral explor- ation to concentrate in this j area. paving of the Alaska Highway between Fort St. John and P'ori Nelson be completed in a five-year period. ____ ____ detailed hydrographic mous in their predictions that "It may be that are s lot closer to wase-and-price controls as a result of tbe election." COCLD BE POSITIVE Richardson Securities corn- that "the increased Ly of wage-and-price ._ imposed in 1973 could be'a positive factor 'for the bond market) in that inflationary expectations might b? calmed somewhat by such a move." Others argue thai TTEge- arri-price controls will not work in Canada "because we are more oriented to the in- ternational market.'' Observers forecast a heav- ier, though not excessive In- crease in corporate financing, particularly during the last six months' of 1973. Provincial financing is also expected to increase but not to exert too much pressure 03 the market Tne federal government is in a strong position due to the success of the Canada Sav- ings Bond campaign, remov- ing fears that the government would have to ester the mar- ket for funds. Most analysts are unanl- .1 P r tho VnVnn work on Mackenzie" River velop northern EC photography and toe Nortnwest Terntonfc. Ue Over the next 15 years, said MEci.enzj6 basin be with. short-and long-term interest rates will maintain a wide spread and will move upward as inflation and the demand for funds increase. Transport Minister Jean Marcb- and in an accompanying state- ment, both public and private sectors must invest in trans- portation to support and emu- late growth In ttese areas. Other recommendations of the study are for the paving of the Alaska Highway between Fort St. John and Fort Nelson, and establishing a plan for railway development in the Yukon. Tne governments of B.C., Al- berta, the N.W.T. and the Yu- kon have been informed of the _ _______ contents of the study, said the i buy i management of either ,-om- transport department. j 0; jjje biggest indepena'-! pany. LIST RECOMENDAT10NS ent food distributor in Calilor- Key recommendations: j nia. it was announced today. -That the federal govern-! Tne compajn- holder of ment, through tbe National Har- i IGA franchise for Alberta, is, bor's Board proceed with mi- seeing, tne controlling shares. Horne-Pitfield dickers for firm OTTAWA (CP) Home and'of the directors of both flrms, Pitfield Ltd., an Edmonton food does not involve changes in the tial development of both a for- olume of tr tels of fisx. VANCOUVER Milian Eirxjie! directors' FJax: were restoring May trw York Times Sen-ice 1 change in the c-'.oseiy knit inner circle' ef the Soviet leadership since Vasily P. Mzhavafcadze. an aging, ineffectual party official v.i.o had long headed the Georg- te divideryi rate to he level of 31. The has so far in paid of yj cents changed 3.70A. Rapewred Vancouver: Jan. ri iower 3.07A; o't lower June W-. 3.W. Tn'jnder Bay: Dec. MOSCOW The Soviet lead- Mono 6 y a derir.g of f-cono- at expel i this ve; c for of any losses financial solutions suffer in making loans to farmers in financial diffi- culties. Mr. To'jpin, who meets Wednesday in Quebec City with to called iaa Republic in the Caucasus, i Eugene Wheian, federal agrieul- ture minister, said the province Tbe company iowc-r 2.M'iA: May eaid an extra dividfcr.d of ten July 7ri lower cents a sriare, payable Oats V.ri2 eamings, psk Jan. 15, to of tj-.e of rxA? on IJ-x-. duct: on. i of r o.viU.Tier good.s trer.d of drojjped a.s a candidate, or memljer. of the rul- (ing Politburo. His removal from of the Georgian in September pro-. has been followed by wide-rang- has had no policy for dealing with disaster-stricken farmers until nov.1. Dec. i-i loww May July r; Barley: 1.3SHB; Nlsv unchanged 1.12; I July !i higher l.41'-iA'. Rye: Dec. :s higher I A: May "is lower July hieher Grsin ouotes KRO.t SW YOU CUTS i IN Awy WlTrOl. Tywyfiw? SAWITSEJJ er' i.n pre-.enting next t'r.e nstion's that the irj irripro'.'ns the r.ori.vjrn- not rr.ean anv Fhi Def.- May Jly Jan Mar Jon High 5V, .T7C '--A 3 3If, MO r; 313', 3 scffl Thunrir-r Bay in YjT.'j. Nikolai of tr.'.- State I'lar.nin? Commit- Msy 311-, Jly yc, OaH W May ico'j Jly W Barley Dec 1S7 May I4C Jly 144 Hye Dtc May Jly IWV 13S 142 141 137 139 142 141 In another report to the su- premo soviur. Finsr.ce Minister Va.-ily F. declared i that the in the budget would remain lav. fov. years. Tne budget item co-.rj.-s direct support costs o! armed forcers. Before to the nfctional at if. ing in the e-.-ening. the plan and the budget, the l7.o hask- annual docu- ments of the Soviet economy, were earlier in the! day at a pl'.-nary meeting of j the- Cornunist Party's Central Committee. Ilbe party mc-eting an- i nouncefl the fin.t ing purges LT the republic. Tne new addition to the inner i circle is a Siberian metals engineer. Vladimir I. Dolgikh. v. ho has been made one of the party's national sec-' retaries under lAonid I. Brezh- nev, the General Sec-retary. v.tio v.iil supervise the operation.-, of heavy indus-; try for the party hierarchy, was apparently chosen for the por-t after having demon- s-trated politics] skiiis and man- agtment ability in the Siberian region of Krasnoyarsk, which h-; headed for three years. ests products and bulk facility at Prince Rupert if there are reasonable assurances that ex- 1 Groc-e port traffic would originate Computer of Market Management Inc.. a i f laid off holding company Co., Glendale, Calif. The announcement was made j there when it becomes econom- j by Bertranri Loeb. board chair-: CALGARY 'CP> Eleven ically feasible. man of Horne and Pitfield and Cmpiovee5 Ot CDP Computer -Tnat definite agreements be i "i M. Loeb Ltd. of Ottawa, also Data Ud. have been reached with B.C. on northern an Kn franchise-holder. ].id due {0 jnjjtet con- railwav development. Such B! His press release said Mar-; rliuons. company vice-president plan would use the line now un- ket Wholesale reported sales Bill Black said yesterday. se Lake j S117.000.000 in 1971. I; said- The employees, earnings der construction to Dease L. _ by British Columbia Railways, i Home arid Pitfield. which also Subject to agreement, construe-: operates in British Columbia, tion should start on connecting i expects sales of SS2.Wi.WM for this line with the CNPv's line to i the fiscal year ending March SI, Prince Rupert. 1973. northern rail links stop Tne sale, subject to approval ployees, earnings be- and S1.2M a month, were released Friday with sev- erance pay ranging from two weeks' salary to three months.' CDP BOW empioys 78 per- sons. Dolfnr value MONTREAL fCPj f.S. in terms of Canadian funds at noon today J-Ifi at 19-32. tVjuad sterling down at YORK (CP) Cana- dian dollar in terms of U.S. funds at noon up 1-16 at 27-M. Pound sterling dov.n 17-W at 52.34 Hog prices EDMONTON 'CP) Aver- age to II a.m. provided by the Alberta Hog Producers Nfarketing Board: I Edmonton: S8.05. average; Monday 39.W. j P.ed Deer: 36.05, average! Monday 34.91. i Calgary: 37.65, average Monday 33.75, j Ijethbridge: No sales, aver-1 age Monday 33.M. Lloydminiter: No sales, av- erage Monday 38.6-5. Fort Macleod: No sales, av- erage Monday Grande Prairie: No sales, av- erage Monday 38.22. Total hogs sold 729. average 3i.S3. SOMS averaged 27.60. Dividends By Tilt: CANADIAN Corp., J32 pfd., VI cents, Feb. 20, record Jan. 31. I tracts. Beef futures WINNIPEG (CP) beef futures close Monday. Jan 37.50N; Mar M.yjN. F'ridav's vo 1 u me: No con- ;