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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 19, 1974, Lethbridge, Alberta Thursday December 19, 1974 THE LETHBRIDQE HERALD 29 The Herald- Business Stock market prices drop in moderate TSE trading Stocks Miscellaneous Vancouver, Calgary ..Montreal Midland Doherty Limited TORONTO (CP) With the exception of some base metal shares, prices on the Toronto stock market were lower in moderate mid-morning trading Thursday. The base metal index rose .21 55.75. The industrial index fell .65 to 153.04, golds 1.86 to '401.39 and western oils 1.22 to 111.84. TransCanada PipeLines H to Canadian International Power rose ft to Albeit Gas Trunk A to I10V4, Met cantile Bank to Banister Continental 15 to 14.65 and Crush Inter- national five cents to 15. Prado Explorations gained 10 cents to Northgate cents to and Brenda WESTERN Pete industrials, Imasco A fell cents to 12.65. Rio Algom lot AND MINES Afton Mines 2.35 Albany Oil oilfield i.TO to Canadian Imperial to and Pamour sSSLSr Bank to Auto Alta East Gas 3.60 Electric 45 cents to Bow Numac dropped Vt to Almlnex 4.15 Asamera P !io Valley 'to and and Pan Ocean Vi to Ashland OH Minerals BP Canada A Pfd Brenda Mines 2.6S Cda Southern 1.49 Cdn Export Oas Yukon 5.50 PIPELINE STOCKS Alta Gas A markets Cdn Homestead Gas Pfd Cdn Ind Gas Nat Gas (AP) -Livestock futures the leading markets abroad and this Cdn Long Island .08 Vi Cdn Superior 21.00 Chieftan Dev 4.10 Dome Pete 16.25 Dynasty J'lliA tumbled sharply Wednesday, but grain tended to influence some buying of Stand Nat Gas 6 75 were mostly higher. silver along with copper futures. N C Gas 7S2Vi World sugar futures, under heavy Cattle futures were down a N C B Pfd 1 5.75 selling pressure for days, gained about hundredweight and pork bellies fell Nutort Res Pipe 8.75 one cent a pound. limit of ISO points, or IVi cents Giant Mascot Pipe A Pfd rose the limit of 20 cents an pound. Gibraltar Mines B Pfd 27.62% ounce in Chicago and closed 12 to 14 Grain futures were firm to strong Granisle 11.25 Grt Cdn Oil 5.62V4 Lochiel Explor .78 Lytton Minerals r 18 cents an ounce hi8her in New York- tne bell and moved higher lowest Trans War 150 The strength in grains tended to der a good demand. CALGARY influence higher prices for cotton. In the closing minutes, some North Cdn Oil .21% Cocoa and copper prices also were taking trimmed gains in wheat, Numac Oil Oil .04 higher, but orange juice and Maine and oats. Soybean oil moved to a PanCdn Pete 7.37V4 Pan Ocean 5.50 Petrol 1.00 Paloma .76 Place Gas .16 Ponder Continental .01 potato futures were little changed. advanced, fell back and returned to the Western Warner Trade was fairly active on all o{ limit the fina! bell. MINES nation's major commodity futures ex- At the close, soybeans were up 5 to Bathurst Norsemines .81 changes, but there appeared to be an 11 cents a bushel, Jan. 7.45; Chicago Cima Resources .32 undercurrent of concern over domestic wheat was 1 to 4 higher, Dec. Ranger Oil 1.91 and international economic problems. corn was 1 to 7 higher, Dec. 3.50; Scurry Halon .55 The price of gold advanced again on oats were IVi to 3Vi higher, Dec. Seibens Spooner 'Mines Total Pete Ulster Pete .36 United Canso 6.75 West Pete .04 Silver Standard .86 Valley Copper grain West Decalta Industries (CP) Oilseeds led the cent limit in most months. Other co. a- 1.30 way as an futures prices showed modi ties made smaller INDUSTRIALS Acres Ltd 4.00 Aquitaine 13.25 BC Sugar C Ptd 11.50 Block Bros na strength in moderate activity through Wednesday's volume of trade was SH9nf "nfi mid-session Thursday on the Winnipeg bushels of feed wheat, StamDede Infl Res 60 Commodity Exchange. of oats, of barley, of c- --01 FUNDS Flax advanced its 30-cent-a-bushel n, of rye, of flax Canbra Foods Cdn. Compound 4.87 daily trading limit in all open months, of Cdn Pac A Pfd Cdn. Dividend 4.96 while raoeseed was at or near its 20- Mid-session prices: Cdn Pac Inv Cdn. Ventures Bay rapeseed: Dec. 20 Carling A Pfd Growth Fund 3.53 8.30B May seven higher Carling B Pfd 17.62V4 Com Capital 1.47 Crest Forest 2.45 Crowsnest Indus 16.37V4 Falcon Copper Special 1.74 Cdn. Invast Fund 3.66 Eaton Commonwealth 10.88 Eaton Leverage 2.39 Eaton Int'l Venture July and Oct. not open. LlVeStOCK Vancouver rapeseed: Jan. 18% higher Mar. 18% higher 1 June 16% higher F M Trust Investors Sept. unchanged 8.02B. Genstar Invest Stock Fund Dec. 30 higher 10.S7B; May 30 Home Oil A Fund U.S. 10.65B; July 30 higher 10.30B; Home Oil B In Shares (CP) Receipts to 11 Oct not open Feed wheat: Dec. 2V4 Hud Bay Co 12.00 Hud Bay Oil 17.00 Hud Bay A Pfd 27.75 Hugh Russell C Pfd 49.00 Husky Oil Equity 4.29 Invest Growth Fund 8.95 Investors Mutual 4.32 Mutual Accumulating 4.79 Nat. Resources Thursday at the Calgary public higher 3.83; May 1% higher 3.79A; f.ct. stockyards totalled head, con-' 3vi lower 3 goA; July not open. Corn: sisling of slaughter cows, steers, Dec. one higher 3.91 Mar. unchanged heifers and bulls. Trade was dull with 3 ssA; July unchanged 3.76B; May not Husky Oil B Pfd 28.25 Husky Oil E War Cdn. 3.83 N.W. Growth narrow demand. open Barley: Dec. 2% higher 2.93A; Choice steers were discounted may 3y4 higher 2.95B; July one higher Inter Pipe War Growth choice heifers sold lower. All 2 KB. Oats: Dec. two higher 2.95A; P 11.00 Kaiser Res 4.45 Kaissr Res War 1.87 Loblaw C Pfd 20.50 Magnasonics 5.05 Templeton Growth 6.16 United Accum 3.34 Universal Savings 6.07 Vanguard of cows were to lower. May one higher 1.88'A; July not open. Bulls were discounted Rye: 0eC. 2Vi higher 2.95A; May 1% Steers, Al, A2: 46-47. A3: 4446. higher July one higher Heifers. Al, A2: 35-37. Cows, Dl, D2: Oct not open 18-20. D3: 16-18. D4: 12-16. Bulls, good: 50 Grain quotes Wednesday basis feeder steers more than 750 Lakehead: Toronto mines, 43-45.25. H'Bh Low close Hogs fob to 11 a.m.: 51.80. (Supplied by Richardson Securities of Canada 1067 May 1052 1035 1035 1000 MINES Acme 7.00 BC Forest prices 975 9 r Rapeseed Thunder Bay Advocate Asb. Sugar 810 Akaitcho Valley Ind (CP) Prices to 11 May 835 Bralorne 9.87% CAE Ind Thursday provided by the Alberta Jly 820 Broulan .31 Bethlehem Power Producers Marketing Board. Oct 784 Bovis Foods prices in brackets: Rapeseed Vancouver Brunswick Cellulose 51.80 Jan 854% 848 851 Can. NW Land O'Keefe 1 51.80 Mar 846'A 838'A 841 Canada Tung. Nil Jun 835 828 831 Cassiar 2.50 Central Pat. .66 Chimo Credit 1.55 CWN Gas Pfd 7.25 Cdn Ind sold to 11 a.m. 681. Hogs sold, Sept 802 average 51.57. Sows average Rye Conwest 1 Marconi Dec 292'A Cons. Rambler Vickers 310 307 307 Coin Lake 304V. 302% 302% Cochenour .97 Craigmont 13.37% Cominco Dickenson Mines 7.75 Oenison Mines Bathurst 23.00 Cons Gas (AP) Wednesday clos- Dec 291% 289 2KM. D'Eldona Seagrams metals in pound sterling per metric fj: Dome Mines Bridge silver in pence per troy ounce. J Discovery Mines 1.85 East Malartic 19.50 Dom Textile Spot 543.5-544.5; futures 563- _ Dec 193 191) IHj East Sullivan 1.40 Frobex Stores 15.00 Dome Pete Spot futures May mVt 186 r jly 183 va First Maritimes .35 Giant Y.K. Glen Mobile Spot 215.5- Corn basis Granduc Cdn Oil Dec 390 Hollinger A Motors .Spot 330-331; futures 329.5- ?Jar Hudson Bay A Lakes Paper 399 Hydra Ex. .48 Iron Bay Oil 23.50 Greyhound ..Spot 192-192.2; 3 months 37fc 109 ion 1 Feed Wheat Iso Sid 383 380Vz 380% Joliet Quebec .16 Kerr Addison Walker A 34.75 Huron Erie futures M5 378' Key Anacon Oil A Labrador 22.50 Lake Shore 3.70 Langis Silver .10 Madsen R.L. .46 Malartic G.F. 83k WINNIPEG (CP, Live beef Int Pipe 1037% futures close Wednesday. Inv Grp A 5.25 Jan 48.00A; March 48.25A; May _ iu int'i 8.50 -48.00N. Martin McNeely Ltd volume: No contracts. Maclntyre (CP) Thursdays Meta __ mid-day foreign exchange selling rates Midrim Douglas A ValUe supplied by the Bank of Montreal: Intern Mogul franc .2260 NuWest Homes 4.90 New Athona 1.95 Loblaw A (CP) U.S. dollar in Germany mark .4190 New Calumet .11V4 Noranda 10.50 terms of Canadian funds at noon Japan yen .00340 Massey Ferg 12.75 Thursday, down 1-50 at 23-25. Mexico peso Northgate Bloed 21.62% pound sterling was down 37-50 at Switzerland franc Norlex .1 Corp United States dollar .9920 Pine Point A New York, the Canadian dollar United Kingdom pound 2.3400 Placer Dev. 14.00 Pax Exp. .95 Quebec Man B 12.75 Nachurs 6.50 North Cent 9-100. Pound sterling U.S.S.R. ruble 1.3026 was down 7-10 at 3-5. Quotations in Canadian funds. Rayrock .75 Radiore Corp Rio Algom Co Roman Corp. Sherritt Gordon CDA Steep Rock Sunningdale Sears fnrn A 1 Can A 1 BK n I.QQ Texmont .12 United Canso A 10.50 Texaco Gas Trunk Line Western Mines 1.53 WH Copper Mines Grp A 10.25 Trans Mtn Pipe Limited Wright Hargreaves Can Pipe Willroy Carbide Windfall Gas Yellowknife Bear Oil Zenmac Siscoe the Holders of Convertible j Mfg 4.85 Westeel Fund Debentures, Series Abitibi Alcan 18.25 Algoma Steel 23. A 17.00 is hereby given pursuant to the terms Atco Ind Imperial conditions attached to the Convertible Agra Ind 4.00 Bell Tel 44.12% Brascan A 11.12% Nova Scotia 34.75 Royal Fund Debentures, Series 1 that, effective at the close of business on November 29, 1974, BC Tel Dom Conversion Basis has been increased to Class "A" common shares for each amount of the Series 1 Debentures from New York (Supplied by Securities of existing Conversion Basis of 100 Class "A" common shares for each principal amount of such Series 1 Debentures. Amr T T foregoing adjustment is a result of issuing j Anaconda Elec Class "A" common shares' at the price Beth Steel 24.75 Chrysler Steel 37.75 Gen Tel Elec per share. Comsat ia.iivt Dupont 90.25 General Motors AVERAGES 20 Industrials 153.39 down .30 20 Golds 402.61 down expiry date of the conversion privilege remains at the close of business of July 15, 1982. Gulf Base Metals 55.65 uo Int Harvester 19.25 Kenr, Copper 36.12% Montgomery Ward 13.50 Sears Western Oils 111.92 down 1.14 volume NEW YORK AVERAGES 20 Industrials 602.15 down L. Pierce Executive Vice-President and Secretary Pvvhn B2 Rails 141.21 up C.AAU1I Texas Gulf Utilities 67.77 down 6, 1974 Texas Co Stocks 195.81 down Wix Corcoration Market trtndt MONTREAL (CP) Prices were generally lower in light trading on the' Montreal Stock Exchange Thursday. Banks fell 1.04 to 802.82, the com- posite 0.39 to 153.39, industrials 0.38 to 155.41, papers 0.33 to (7.12 and utilities 0.13 to 1U.1S. PanCanadian Petroleum fell H to Cadillac Fairview H to flOtt, International Nickel A to and Canadian Pacific tt to Bank of Nova Scotia rose Vk to 135 and Mer- cantile Bank Vi to Among speculative issues, Fallinger fell 4Vi cents to 17ft cnts after trading 23.S60 shares. VANCOUVER (CP) Prices were down in light trading on the Vancouver Stock Exchange today. Early volume was shares. In the industrials, Jolly Jumper was unchanged at .10. In the mines, Green Eagle was down .08 at .10. In the 'oils, Stampede was up .02 at .54. Prices were down Wednesday in light trading. Closing .volume was shares. In the industrials, lonarc was down .03 at .12; Centura unchanged at .07; Canadian Javelin up .37Vz at Block Brothers down .05 at Key up .02 at .07 and Jolly Jumper down .02 at .10. In the mines, Sonesta down .05% at .19; Grandore down .02 at .41; Skaist up .01 at .26; Arodien down .13 at .30; Charta down .02 at .12 and Colby down .03 at In the oils, August up .01 at .10; Payette down .02 at .10; Seneca up .01 at .77; down .03 at >77; Princess down .01 at .11 and Monterey A unchanged at .09. Curb volume was shares. Abaca down .02 at .38; New Wellington down .01 at .04; Host Ventures down .04 at Tampico unchanged at .13; Trevlac unchanged at .74 and decade down .02-at .24. NEW YORK (AP) The stock market declined slightly Thursday, wavering inconclusively in a pattern it has followed for most of the past several weeks. The noon Dow Jones averages of 30 industrials was down 1.41 at 602.08 and declines out-stripped advances by about 30-to-2 in quiet trading on the New York Stock Exchange. On the American Stock Exchange, the market-value index slipped .05 to 60.16. The NYSE's composite index of all its listed common stocks lost .13 to 35.61. Among Canadian issues on the NYSE, Campbell Red Lake was down. Vz to and International Nickel Vs to Seagrams dropped Vt to while Hiram Walker remained unchanged at Gold futures WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg Commodity Ex- change close Wednesday. 400-ounce contracts: Jan 75 186.55; Apr 75 191.40A; Jly 75 196.30; Oct 75 201.60B; Jan 76 207.00A. Tuesday's volume: contracts. 100-ounce contracts: Feb 75 189.10; May 75 194.40A; Aug 75 199.00A; Nov. 75 Feb 76 210.50A. Tuesday's volume: 389 contracts. Gold prices LONDON (AP) Closing gold prices Wednesday in U.S. dollars per ounce: Zurich-188.00 Hong per kilo Feed prices WINNIPEG (CP) Wheat board domestic feed grain prices Wednesday: 3 cw red spring wheat No. 1 feed barley No. 1 feed oats 1.91. Port cargo handling up despite several strikes MONTREAL (CP) Despite numerous strikes which crippled shipping on the St. Lawrence River, the port of Montreal handled a slight increase in cargo tonnage this year compared with 1973, Nicholas Beshwaty, port Steel price hikes irk White House PITTSBURGH, Pa. (AP) Steel industry leaders say pri- vately that U.S. Steel Corp., in the face of White House anger, may have to roll back at least some of its newly- announced price hikes. Arabs buy share of big firm LONDON (Reuter) Arab investors have bought a 20.7- per-cent share in one of Brit- ain's biggest construction firms in a deal worth more than million, it was an- nounced Wednesday. The Arab group bought over five million shares of common stock of Richard Costain Ltd. from the financial company of Slater Walker Securities Ltd., Slater Walker said. The price paid was about a share. Slater Walker did not specify what Arab interests were involved, but informed sources said they were believ- ed to be from several different countries. Costain has been active in the Middle East for 40 years and about a quarter of the company s' current activities are in that region. Markets holiday schedule TORONTO (CP) Canadian stock ex- changes will close at noon next Tuesday, Dec. 24, and not re-open again until Dec. 27, a day holiday for Christmas week. The New York and American stock ex- changes will close Christmas Day but will be open Tuesday, Dec. 24, and Boxing Day. London markets will close at 1 p.m. Dec. 24 and re-open Dec. 26 after taking off Christ- mas Day as well. One insider said President Ford's angry reaction staved least for the moment- similar price hikes planned by several other major producers, including National, Jones and Laughlin and Inland Steel. So far, only CF and I Steel Corp. .of Pueblo, Colo., has fol- lowed U.S. Steel in raising prices. "It's a bad time for price in- one source said. "The market is softening, and I just thought U.S. Steel's new prices were out of line." No top steel company ex- ecutive would speak for attribution. The price hikes average about eight per cent over two- thirds of U.S. Steel's line, and board chairman E. B. Speer said Monday that "the largest portion of the increases represents a catchup of U.S. Steel's prices with those already being charged in the market." U.S. Steel said Wednesday it will respond by letter on Fri- day to the president's request for justification for the price increases. But a spokesman insisted increases were "fully justified." Higher prices went into effect on products used in in- dustries where demand is heavy such as shipbuilding, heavy construction and railroads. Prices were not raised on products used in such depressed fields as the auto industry arid homebuilding. Most of the hikes became effective Wednesday, while a 10-per-cent increase in tin products will take effect Jan. 13, 1975. Sources in the industry said weakening demand and Ford's objections to U.S. Steel's price hikes are going to keep other major steel firms from quickly jumping on the higher prices bandwagon. manager, said Wednesday. Total cargo tonnage, in- cluding imports, exports and domestic traffic, increased to 24 million tons this year from 23.9 million tons in 1973, Mr. Beshwaty said. Grain deliveries decreased to 143 million bushels from 148 million bushels in 1973. Had there not been the work stoppages, Mr. Beshwaty esti- mated 175 million bushels of grain would have been handl- ed through the port in 1974. Strikes which tempered the 1974 figures included work halts by St. Lawrence River pilots, the Seafarers' Inter- national Union the Canadian Merchant Service Guild and most recently. grain inspectors. Fifty per cent of general cargo was container traffic. which accounted for 1.7 million tons, about equal to last year. MB. Beshwaty said the port hopes to increase its facilities to handle container traffic and will continue to invest millions of dollars towards this end. About million were spent in modernization pro- jects in 1974, he said, and an additional million in capital investments was forecast for 1975. The handling of petroleum and related products decreas- ed this year to 7.8 million tons from 8.3 million tons. Mr. Beshwaty said it is cheaper for large oil tankers to unload in Montreal onto smaller ships which then head westward through the St. Lawrence Seaway and Great Lakes, than for the large ships to spend valuable time slowly plying the interior waterways. Mr. Beshwaty was pleased with the increasing use of Montreal as a winter port. Discount rate cut by bank FRANKFURT (Reuter) The West German central bank today reduced its dis- count rate to six per cent from 6.5 per cent. The central bank said the rate took account of West Ger- many's present economic situation and the market trend toward lower interest rates. OC 1003 4th Avenue South, Lethbridge Telephone 328-4426 'P rocessng S ervces Treat., yourselr HiramWdker's SpecialOld. Gende Rye Whisky. ;