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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 20, 1973, Lethbridge, Alberta Rape marketing said Hoc political' SASKATOON Kenneth Edie of in- formation director for the Rapeseed Association of said Wednesday the issue of rapeseed marketing is becoming too polarized and too political. In a telephone Mr. Edie said farm and business groups are being polarized over the question of how rapeseed will be marketed and the rapeseed in- dustry may have trouble mending fences in the future. The question of free enterprise versus government control has caused some peo- ple to stray from the main which is what is the best way to market rapeseed. he said. marketing system farmers chose. I hope there will continue to be co- operation between business and groups to assure the system works to the best ad- vantage of the whole in- That means getting the best possible price for the and giving the in- dustry an adequate return so it can he added. A communications gap between the Winnipeg Com- modity Exchange and .the Saskatchewan Wheat Pool was emerging from the issue. Mr. Edie charged that the by innuendo and had made mis- leading statements about the exchange. He asked if the pool believed the exchange was so bad. it had not par- ticipated at the board-of- governors level in an effort to improve the situation. Western oil too expensive in east OTTAWA Even with rising foreign oil can be brought to Montreal more cheaply than western Canadian crude shipped through the Panama canal from British Columbia National Energy Board of- ficials said Wednesday. They told the Commons re- sources committee that foreign oil delivered at Montreal now costs an average a though the price varies widely among companies and contracts. But that's less than the charged for Canadian oil routed through the Panama canal to the Portland. pipeline to Montreal. Board officials said the best deal is western crude shipped by pipeline to then by tanker through the St. Law- rence Seaway to about But the seaway is about to cutting off that route. Board member John Stab- back said it costs about to send a barrel of oil by pipeline from Edmonton to either Ontario or the B.C. coast. It costs another to send it through the or by tanker from B.C. via Panama and the Portland pipeline. Officials stressed that the price of foreign the Middle East and Venezuela on whether it is bought under long-term contracts or on a spot basis. Long-term contracts provide lower prices. Ford confident about car sales DETROIT Top offi- cials of Ford Motor Co. said Friday they believe the current energy shortage will have a lasting effect on the auto but contended sales won't suffer for more than a year. Henry Ford and Lee lacoc- chairman and president of the second largest automaker in the United es- timated a sales drop of more than 13 per cent in 1974 car sales in the U.S. and a small decline in truck production. The projection was similar to one offered last week General Motors Chairman Richard Gerstenberg. forecast for next year is the Ford ex- scutives said. the Arab smbargo on oil shipments to the U.S. is lifted by the end of we believe new car sales in 1974 will probably be in the area of 10 New car sales this year are expected to hit a record 11.5 million. Among expected market changes cited by the Ford offi- cials was a move toward smaller cars by the U.S. con- sumer. They said small cars will account for 42 per cent of Ford production during up from 38 per cent in 1972. That could increase as much as eight per cent in they accounting for 50 per cent of all Ford U.S. produc- tion. recent drop in car sales has been concentrated in the medium and standard- sized they said. they have been down 25 per cent in the first 80 days of the 1974 model Abandoned well cost million EDMONTON mperial Oil Ltd. has announc- it is abandoning one of its wells at the Mackenzie Delta in the Northwest Territories after spending million on it. The company said that vhile it is being shutdown at a lepth of 8.883 feet instead of to 15.000 feet as was ilanned. the well was a useful in drilling from an island. The in the Beaufort Sea. is being abandoned because of high formation pressures which make drilling unsafe. It has yielded only minor gas shows so the company said. The well showed that the problem of drilling where the sea is covered with shifting ice for much of the year could be solved. Other wells from artificial islands are the com- pany said. The Herald- Business Your Business Associates Will Be Staying At The 3 listers iflotd B.C. Color Telephones See You Reserve 423-4438 Stocks Miscellaneous Montreal by McQuaig WESTERN AND Alton Albany Asamera Alta East BP Brenda Can Cdn Ex Cdn Cdn Ind Gas Cdn Long Cdn Dome Fort Grant Gibraltar Gt Gt Cdn Oil Lochiel Lytton Noble North Cdn Pancdn Pan Place Ranger Scurry Total Ulster United West West Acres 'A BC Sugar Block Cdn Pac Inv A Comm Cap Carling O'Keefe A Carling O'Keefe B Crestbrook Crowsnest Falcon F and M Global Com Home Home Hud Bay Hud Bay Hud Bay A Hugh Husky Husky Oil B Husky D Husky E Hys of Inter Prov Inter Prov Kaiser Loblaw C Pacific Pac West Pe-Ben 'Hainier .Royal Trust San dwell Teledyne Trimac Ltd West Cdn Seed Westfield Min Weston A Pfd White Yukon PIPE LINE STOCKS Alta Gas A Alta Gas Pfd Alta Nat Gas Inland Nat Gas Gaz Metro Gaz Metro A Pfd N and C Gas N and C B Pfd Pacific Trans Trans Can Pipe Tr Can A Pfd Tr Can B Pfd Tr Can War WC Trans WC Trans Wts CALGARY Acroll Barons Oils North Continental West Warner VANCOUVER MINES Atlas Explor Bath Norse Dankoe Davenport Dolly Varden Equitorial Res Lornex Primer Pyramid Silv Stand Valley Cop INDUSTRIALS Colum Brew Key indust Wardair OILS Plains Pete Pond Explor Stamp Intl Res MUTUAL FUNDS 26.50 5.00 4.15 4.50 1.01 59.50 8.25 69.50 18.75 8.50 5.25 64.00 21.00 9.75 58.00 39.25 4.10 22.25 3.60 .46 .04 .25 .29 .92 2.00 .27 .20 .11 8.70 .08 .10 1.27 8.75 2.80 .15 1.55 .18 .65 .62 All Cdn Compound All Cdn Dividend All Cdn Ventures Amer Grow F Special Cdn Invest F Collect Mutual Com Inter Com Leverage Com Venture Corp Invest Corp In St F Dreyfus F US Grpd Income Grow Equity Invest Grow F Invest Mutual Mut Accumulat Mut Grow F Nat Resources NW Cdn NW Growth Prm Grow Prov Mutual Royfund Temple Grow United Accum Univer Sav Vanguard 6.37 6.69 3.24 4.98 2.48 4.74 5.06 12.91 3.11 5.48 5.93 4.65 10.37 2.86 6.66 11.62 5.40 5.65 2.99 4.46 5.00 4.12 4.12 6.S7 6.38 7.04 4.53 7.47 5.40 6.92 7.27 3.52 5.47 5.20 5.53 14.18 3.42 6.02 6.52 5.11 11.36 3.15 7.32 12.77 5.90 6.22 3.29 4.90 5.49 4.52 4.52 7.62 6.64 7.72- 4.98 8.21 5.92 Toronto industrials by Richardson Securities of For Lease Office in modern addition to Professional MINES Acme .11 Advocate Asb. 1.26 AkSUtcho 1.25 Bralorne 1.30 Broulan Bethlehem Bovis 1.70 Brunswick 5.00 Can. NW Land 6.45 Canada Tung. 2.65 Cassiar 9.75 Central Pat. .78 Chimo .89 Conwest 3.75 Cons. Rambler 2.36 Com Lake .12 Cochenour .71 Craigmont 6.10 Dickenson Mines 3.95 Denison Mines 45.25 D'Eldona .33 Dome Mines 135.50 Discovery Mines .83 East Malartic 4.'40 East Sullivan 2.25 Falconbridge Frobex .21 First Mantimes .55 Giant Y.K. 9.75 Granduc 3.20 Hollmger 42.50 Hudson Bay 25.50 Hydra Ex. .24 Iron Bay 3.65 Iso 1.36 Joliet Quebec Kerr Addison 10.50 Key Anacon Labrador 39.50 Lake Shore 2.50 Langis Silver .05 Madsen R.L. 1.40 Malartic G.F. .85 Martin McNeely .19 Maclntyre 45.50 Meta .13 Midrim .11 Intern Mogul 8.15 Nu West Homes 8.75 New Athona .13 New Calumet .23'A Noranda 47.75 Northgate 4.10 Norlex .24 Pine Point 29.00 Placer Dev. Pax Exp. 1.05 Quebec Man .12 Rayrock .80 Radiore .24 Rio Algom 32.25 Roman Corp. 11.75 Sherntt Gordon 13.25 Steep Rock 1.71 Tek Corp. 2.95 Texmont .16 United Canso Western Mines 2.75 W. House Copper Mines 2.90 Wright Hargreaves 1.05 Willroy 1.01 Windfall Yellowknile Bear 4.45 Zenmac INDUSTRIALS Abitibi Alcan Algoma Steei 19.25 Atco Ind A 14.25 Jannock Sugar Agra Ind 10.25 Bell Tel 38.75 Brascan 16.25 BC Tel Burns BC Forest BC Sugar A Bow Valley Ind Cable CAE Ind Chemcell Cdn Cellulose Cal Power Coron Credit CWN Gas Pfd CUM industries Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dolasco Glendale Mobile Grt Cdn Oil General Motors Grt Lakes Paper Gulf Oil Cda Grehyound Hawker Sid Hiram Walker Huron Erie Imperial Oil Imasca Int Nickel Int Pipe Inv Group A IU International Accept Kaps Kelly Doug A Laurentide Loeb Loblaw A Metropolitan Mass 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 Mm Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Siscoe Versatile Mlg Westeel Westons Woodwards A West Cdn Seed Zenith Elec Cdn Imperial Montreal Nova Scotia Royal Toronto-Dom BANKS 48.00 14.50 19.75 25.00 14.50 8.50 4.95 21.50 2.25 10.25 3.15 13.25 14.75 26.00 41.25 36.00 22.25 11.25 34.25 28.75 6.00 8.25 48.25 22.25 29.75 4.55 50.75 30.75 36.25 16.00 4.10 5.00 8.50 3.45 11.00 30.25 48.50 22.00 21.50 9.75 65.50 13.00 15.50 7.75 28.25 12.75 43.50 14.50 16.25 9.00 13.00 5.00 17.50 18.00 4.50 2.75 35.00 35.25 square air 2 parking available. PAHULJE CONSTRUCTION LTD. PHONE 327-6747 New York by Richardson Securities of Amr. 51.00 Woolworth Anaconda Westinghouse Elec. Beth. Steel 31.25 U.S. Steel Cnrysler 15.75 Gen. Tel. Elec. Comsat 42.75 TORONTO AVERAGES Dupont 153.25 20 Industrials 203.37 up .69 General Motors 20 Golds down 2.68 Gull 20.50 10 Base Metals 88.95 up .32 Int. Harvester 15 Western Oils 232.93 up .57 Kenn. Copper 40.25 Volume Montgomery Ward NEW YORK AVERAGES Sears 83.00 20 Industrials up 2.76 Exxon 20 Rails 178.31 up 1 85 Texas Gull 29.00 15 Utilitins 87.19 up .16 Texas Co. 65 Stocks 261.49 up 1.28 Unemployment Mid-November Labor Force Seasonally Adjusted Actual 5 600 400 Out of Work 468.0OO Ill i i i i i I I I I I I I I I I I J FMAMJ JASOND Toronto market trading light Drops TORONTO The Toronto slock market was mixed in light mid- morning trading today. The industrial considered the major indicator ol market was ofl 26 to 202 42 Golds rose .42 to .181 76. base metals .13 to 88 76 and western oils .41 to 23277 Volume by 11 am was down from 656.000 at the same time Wednesday. Declines outnumbered advances 137 to 121 with 183 issues unchanged. Oil relming. pipeline and merchandising stocks were among sec- tors of the market recording declines while construction and mate- paper and forest and steel issues were higher Imperial Oil fell 1 Texasgulf to i. Woodward A to SI8V Versatile A to and Power Corp. 'h to Bank of Nova Scotia rose lv to J3511. Burns Foods '2 to Gulf Canada '2 to Noranda A to and Husky i to Roman Corp was up ''i to Cuvier 15 cents to 55 and Camflo to Bethlehem Copper lost 'i to ft 3 and Tara 'N to Pan Ocean oil increased 8 MONTREAL Prices in all sectors were lower in light trading on the Montreal stock market today. Combined volume on the Montreal jud Curiddian slock exchanges at li a.m. was 242.300 compared with 552.800 at the same tune Wednesday. Industrials fell 1.24 to 224.02. the composite 1.02 to 209 utilities .70 to 132 38. papers .18 to 124 and banks .05 to 256.41 On the Montreal Stock Keen Industries fell to Imperial Oil BH to Shell Canada to Distillers Corp.-Seagrams Ltd. to and Abitibi Paper to On the Canadian Stork South Dul'ault Mines rose '.z to on a volume of 22.000 shares traded VANCOUVER Prices were up in moderate trading Wednesday on the Vancouver Stock Exchange Volume was 2.032.938 shares. In the industrials. Canterra was at .21 on 13.000 shares. Block was unchanged at on 6.400 lonarc was up .04 at .70 on 4.850 shares. KDP was unchanged at .17. Brascan A was at In the mines. Northair was up 16 at SI 12 on shares Barrier Reef was up .33 at on shares Cutleas was down 20 at 65 on 87.850 shares. Northair warrants were up .05 at .27 on 67.000 shares. Accent Resources was up .04 at .18. Highhawk was at .12. In the oils. August Petroleum was up .03 at .70 on 13.219 shares. Williams Gold was down '2 at 17'z on shares Princess was up 01 at .27 on 000 shares -Plains Petroleum was down 02 at 18 on 8.247 shares Alaska Kenai was up 06 at Texacal Resources was up t at 08. NEW YORK Stock prices were moderately higher today as investors responded positively to the newest steps taken in the oil program The Dow Jones average of 30 in- dustrials was up 3.38 at 832.95 at noon Advances led declines by a moderate margin in active trading on the New York Stock Exchange. Brokers said investors now view the tv-'o nc-.v steps in the oil program as basically favorable to oil companies. The steps are a price boost for crude oil and a proposed windfall-profits tax on oil companies Canadian issues were mixed Canadian Pacific rose to Dome Mines to Hudson Bay i to International Nickel to Mclntyre '2 to and Hiram Walker 'i Losers included Alcan. off i at Distillers Seagrams olf at Massev Ferguson down 'M at i and Scurry down i at The seasonally adjust- ed unemployment rate edged down in November to 5.6 per cent of the work Statistics Can- ada reported Tuesday. The unemployment rate was down from 5.8 per cent in October. The actual number of unem- ployed rose to last but Statistics Canada figured it as a drop when seasonal factors are considered. Chicago CHICAGO Wheat futures led most farm commodity futures to higher ground on the Board of Trade advancing the limit of 20 a bushel. Impressive gains were listed in meal and oil Adverse weather was a major factor in strong live cattle futures on the Mer- cantile but live hogs pork belly contracts and shell eggs were irregular. Activity in wheat futures marked the third straight day ol wide price swings. Wheat advanced 20 cents fell 19 Tuesday and closed 8 to 20 higher Wednesday. The demand developed after a weak opening when prices were down 8. Commercial buying in distant options produced a 14 advance and at close the limit was touched Com and oats along with the Soybean complex also improved in the general swing to buying and short covering in the last hour. The strength in live cattle was attributed to the weather as well as a higher carcass beef market and relatively light receipts. The expiring December live hog contract bulled ahead but deferreds fell as much as Grain quotations Mar Ma.v 5.08. Jul 4.71. Sep 4.69. Mar May 2.74Ji. Jul Sep Dec Mar 2.58-1.. Mar Ma.v Jul 1.37 Sep 1.37'2. Gold futures WINNIPEG Gold U.S. funds. Winnipeg Commodity Ex- change. Jan 74 108.95A. Apr 74 Jly 74 Oct 74 119.20A. Jan 75112.00A. Tuesday's 176 contracts. Dollar value MONTREAL U.S. dollar in terms of Canadian funds at noon Thursday was down 1-25 at 24-25. Pound sterling was down 27-50 at 30 71-100. In New the Canadian dollar was up 1-25 at 1-25 Pound sterling was down 9-20 at 30 4-5. Dividends Dividends are quarterly unless otherwise noted. Avco pfd.. 80 cents. U.S Feb 20. record Jan. 25 Buw Valley Industries 5'z per cent pld.. Series A. 27'z cents. Jan. 15. record Dec. 31. Canadian Pacific Investments 28 initial. Jan. 28. record Dec. 27 Winnipeg grain Livestock Calgary Hog prices CALGARY Receipts to 11 a.m. today from the Calgary Public Stockyards totalled about 900 mostly cows. Trade was active. Slaughter steers were in short supply selling steady. Heifers were scarce with insufficient Al and 2 heifers on offer to establish quotations. Other grades sold steady. Cows were mostly in the lower grades selling steady. Bulls sold steady. Steers AI and 2 44.50-46. A3 A4 40-42 Heifers A3 A4 35-38 Cows Dl and 2 32.50-34. D3 D4 25-30 Good bulls 3842 50. Replacements were practically all fleshy short-keep steers in the 850 to 950 pound weight range and selling steady There were insufficient good stock calves on offer to establish a market. Good feeder steers 850 pounds and up 42-47.80. Hogs f.o.b. Calgary to 11 am. average base price 48 15. Beef futures WINNIPEG Live beef Jan 47.40B. Mar 51 Jly 51.50. Tuesday's three contracts EDMONTON Average prices to 11 a.m. provided by the Alberta Hog Producers Marketing Hoard with Wednesday average in Kdmonlon. 48.05 Red Deer. 48.20 Calgary. 48.15 Lethbridge. Nil Nil Crandc Prairie- Nil Total hogs sold to 11 a.m. 444. total Wednesday 3.185. average 48.26. Sows average 34.45. WINNIPEG Trading was generally light with prices steady to strong at mid-session today on the Win- nipeg Commodity Exchange In the only Vancouver rapeseed futures showed much activity with prices advanced one to three cents. The remainder of the oilseeds were unchanged. Rye was steady on light activity with no trading in barley December oats advanced the eight-cent limit on li- quidation selling Wednesday's volume of trade was 622 000 bushels of 972.000 of 1.296.000 of rapeseed and 9.000 of oats. Mid-session prices Dec. unchanged 10.63'2. May unchanged July and Oct. not open. Rapeseed Vancouver. Jan. higher March 3 higher June 3 higher 6.00. Sept unchanged 5.80B Rapeseed Thunder Dec. un- changed May unchanged 5 July unchanged Oct. unchanged 5.75B Oats. Dec. 8 higher 1.63B. May not July unchanged l.fl'iB. Dec.. May and July not open. Dec unchanged May Vj higher 3 July higher Grain quotes Wednesday High Low Close Flax Dec 1068 1063'u 1063 Mav 989 988 988 Jly 959 Ocl Rapeseed Vancouver Jan 610 61H4 Mar B02 606 .lun 601 593 597 Sep 580 Rapeseed Thunder Bay Dec May Jly Ocl Oats Dec- May Jly Barley Dec May Jly Rye Dec May Jlv 581 579 327 315 313'z 322 564 579 578 575 155 156 147'u 245'-2 230 315 325 Metals LONDON Closing metals bid-ask in pounds sterling a metric silver in pence a troy Copper spot futures SOS- SOT. Tin futures 2.440-2.445. Lead futures 233-234 Zinc futures 539-540 Silver 3 months 141.6- 141.8. Currencies MONTREAL Thursday's mid-day foreign exchange nominal selling rates supplied by the Bank of Australia dollar I 50 China Renminbi 5075 France franc .2140 Germany mark .3830 Italy lira commercial .001695 .Japan yen .003610 Mexico peso 0810 South Africa rand 1 5 Spain peseta .0178 Switzerland franc .3180 United States dollar 1.0030 United Kingdom pound 2.34 U.SS.R. ruble 1.4039 Quotations in Canadian funds. FRIDAY Is Seafood Day at The Lethbridge CREAMY BOSTON-STYLE CLAM CHOWDER Succulent Chunks ol Cod Breaded and deep O 4 fl fried to perfection 1 U V2 DOZEN PLUMP CHOICE SHRIMP Butter fried breaded and deep A fried DOZEN PLUMP CHOICE OYSTERS With crisp breaded n coating ..............A.OU SEAFOOD COMBINATION PLATE with deep fried cod. Shrimp and oysters SEAFOOD DINNERS served with chowder trench fries cole slaw and our own special Seafood Sauce... of course. of your choice it Included. Open till 10p.m. LETHBRIDGE HOTEL RESTAURANT Corner of 2nd Ave. and 5th St. S. 329-4644 1003 4th Avenue Lethbridge Telephone 328-4426 Correction MEAGHERS VOWCft. In the Auto Centre ad- vertisement which ap- peared on page 18 of December 18th Lethbridge the AM Radio should have read .Save AM radio k-Universal radio with powerful x external speaker. Push-button tuning. 3 watt power. Reg. S39.9P. ;