Lethbridge Herald, The (Newspaper) - December 23, 1974, Lethbridge, Alberta
Monday, December 23, 1974 LETHBRIDGE HERALD The Herald- Business Stocks Miscellaneous Vancouver, Calgary Midland Doherty Limited WESTERN OILS AND MINES Alton Mines 2 50 Albany Oil 16 Alberta East Gas 410 Almmex 4 00 Asamera 6 50 Ashland Oil 4 85 BP Canada 7 87V4 Bronda Mines 4 50 Cda South 1 50 Cdn Ex Gas 1 61 Cdn Homestead 2 05 Cdn Ind Gas Oil 5 12Vz Cdn Long Is 06 Cdn Super 20 50 Chieftan Dev 3 85 Dome Pete Dynasty 5 75 Nufort Res 10 Giant Mascot 42 Gibraltar Mines 375 Granisle 11 25 Gt Cdn Oil S 4 90 Lochiel Ex 71 Lytton Mm 1 00 North Cdn Oil 250 Numas Oil 8 50 Pancdn Pete 7 25 Pan Ocean Petrol 1 00 Paloma 54 Pace Gas Ponder 47 Ranger Oil 14 Scurry Ram 1250 Seibens 4 90 Spooner 13 Total Pete 3 75 Ulster Pete 36 United Canso 6 50 West Pete 230 west Decalta 2 64 MISCELLANEOUS INDUSTRIES Acres Ltd 4 05 Aquita ne 12 75 BC Sugar C Pfd 11 50 B ock Bros 3 40 Cdn Pacific Inv 12 12Vi Carlmg O Keete A Pfd 15 12Y2 Carlmg O Keefe B Pfd 17 50 Comm Cap Corp 1 45 Crestbrook Ind 2 40 Crowsnest Ind 1650 Fdlcon Copper 5 62Vi F M Trust Co 4 00 Genstar Home Oil A 1700 Home Oil B 1600 Hud Bay Co 11 50 Hud Bay Oil 1750 Hud Bay Oil A Pfd 27 75 Hugh Russell C Pfd 50 00 Husl'y Oil 1150 Husky Oil B Pfd 28 00 Husky Oil E War 360 Interprov Pipe War 1 33 Interprov Steel Pipe 11 00 Kaiser Res 4 60 Ka ser Res War 2 20 Loblaw Co C Pfd 2050 Magnasonics 95 Pacfic Pete 1300 Pe Ben Oilfield Serv 1 80 Royal Trust 20 75 Sandwell Teledyne Traders Grp Pfd Trimac Westfield Mm Weston A Pfd White Yukon PIPELINE STOCKS Alta Gas Trk A Alta Gas Trk Pfd Alta Nat Gas Gaz Metro Gas Metro A Pfd Inland Nat Gas N C Gas N C Gas B Pfd Trans-Cda Pipe Trans-Cda A Pfd Trans-Cda B Pfd Trans Cda War WC Trans we Trans War CALGARY Acroll Barons Oil N Continental Western Warner VANCOUVER MINES Bathurst Norsemmes Cima Resources Dankoe Davenport Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Key Industries Wardair OILS August Petroleum Plains Pete Stampede Intl 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 I Venture Corp Investors Corp Invest Stock Fund Dreyfus Fund U S 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 400 365 950 345 43 4500 5 1050 5100 1450 485 4812% 6 87 762Vi 1500 4900 2800 33 1825 145 19 04 01 11 90 33 205 50 335 1 69 07 04 92 525 07 1 35 06 58 485 494 200 347 1 73 366 1093 238 409 460 336 801 237 425 907 436 478 324 384 321 292 506 610 339 611 354 I oronto mines, industrials (Supplied by Richardson Securities of Canada) Forest Advocate Sugar Valley Ind Ind Power Foods Cellulose Can NW Canada Credit Central Gas Pfd Indus Marconi Cons Vickers Coi" 0 ckenson Bathurst Denison Gas D Seagrams Dome Bridge Discovery East Textile East Sull Stores Pete F st Mobile G a Y Cdn Oil in Motors Holl nger Lakes Paper Hudson Bay Oil Cda Hydra Lines Iron Sid Walker A Jol ot Erie Kerr Oil A Key A Nickel L. Ke Pipe I angis Group A R International Malartic G Martin Douglas A Intern NuWest A Stores vlei Ferguson tnrt Bloedell r, t Corp o A t- B Macei P..x Cent Quebec Corp Co R o Roman CDA Sherntt Steep Sears Can A i.1- 1 orp A noi n Ipj Grp A Mtn Pipe WH Copper Can Pipe Wright Carbide Gas Oil Yellowknife Siscoe Mfg TORONTO A Alqoma M'uO imperial Aqra Bell Scotia Brpscan BC Dom 625 1000 1925 950 1000 6 87V, 2200 235 405 175 330 1 55 725 17 12V4 265 11 25 700 13 62V4 23 2300 1425 3200 1675 1800 612% 1575 1625 21 25 1 55 500 3000 1450 2400 11 75 395 3475 2400 2250 2300 1900 500 8 12V4 1675 500 1 01 440 5 210 480 1075 21 62Vi 41 50 1300 650 750 215 800 1275 875 11 50 625 900 24 37Vi 11 00 2450 1025 825 875 1425 6 750 210 500 22 12V4 1775 18 12V4 2075 11 37Vi 3475 2550 3225 BRUSSELS (Reuter) Millions of foreign workers living in the nine Common Market countries are facing severe hardship because of the economic crisis menacing Western Europe As the EEC member gov- ernments brace themselves for the double blow of in- creased oil prices and in- flation, the jobs which tempted the migrants to leave their homes are slowly ceas- ing to exist The energy crisis in par- ticular has made the need for the restructuring of European industry and its deployment of labor starkly apparent A recent EEC commission working paper estimated that unemployment in the commu- nity would rise by more than 800000 over the September- October figures to 4 1 million by April next year For the 115 million mi- Gov't aid needed by auto industry DETROIT (AP) General Motors said Saturday the auto industry can hope for only modest improvements in 1975 even if the United States government acts quickly to end the recession In a year-end statement, GM Chairman Thomas Murphy predicted industry car sales in 1975 will be up slightly from the depressed 1974 levels But he cautioned that his ex- pectations depend on "prompt government actions to restore consumer confidence and to stimulate the economy Calling 1974 the "most turbulent in post-war automotive Murphy intimated that the ailing in- dustry might be in even worse shape next year without new energy, fiscal and monetary policies "The outlook for the Ameri- can automobile industry hinges directly and important- ly on how soon and how effec- tively the nation's economy can recover from the present he said Murphy predicted auto sales in calendar year 1975 will be about nine million including imports, up from an es- timated 8 9 million this year but far from the record 11 4 million of 1973 He predicted truck sales will be down units from 1974 to 2 5 million Blaming energy shortages for much of the auto in- dustry's woes Murphy gave cautious support to an increase in the federal gas- oline tax as a last resort for curbing energy consumption The auto giant previously has argued vigorously against the increase proposal, saying it would cut into car sales Ford Motor Co however, has been a strong advocate of the plan GM proposed a four-part energy-conservation plan in- cluding voluntary reduction in energy consumption, parti- culary petroleum by business and individual consumers in the next several years of federal price controls from natural gas and petroleum products incentives for the private development of energy resources If gas and oil prices are decontrolled, the proposals calls for a special tax on excess profits that are not re-invested in domestic exploration of new energy sources the other proposals fail, new taxes on petroleum, an in- crease in the federal gasoline tax or other measures design- ed to reduce our national de- pendence on imported oil The nation has slipped into its sixth post-war recession, and uncertainty over energy supply shadows the 1975 out- Murphy said "Recovery now depends on prompt government actions to restore consumer confidence and to stimulate the economy grants and their families who make up the community's so- called "10th the threat of unemployment is real indeed Of the 1973 total, more than 70 per cent were immigrants from outside, mainly from Yugoslavia, Spam and Tur- key They were not recruited as part of a community pol- icy but by bilateral arrange- ments between the host coun- try and homeland In places like the Ruhr coalfields and French car-as- sembly lines, the migrants built a reputation for being a relatively cheap, non-union- ized hard-working labor force The community, as a whole, reaped the benefits of their presence According to a re cent EEC commission work- ing paper the Common Mar- ket managed to reach a higher level of growth using migrant labor than would have been possible using community labor alone Many industries became la- bor-intensive, and the pres- ence of a large and flexible work force meant capital, which otherwise would have been used to replace old plant machinery was saved In a sense, the comparative boom years of the community which ended with the energy crisis were built on the avail- ability of cheap oil and cheap labor But those days are over, as the recent decisions by West Germany, France, Belgium and Holland to suspend immi- gration show The migrants tended to gravitate towards already in dustnahzed areas, while many parts of the EEC which most needed labor for devel- Italy for major ex- porters of labor How long the migrants born outside the community stay in the EEC country depends largely on the length of their contracts and the prevailing economic situation Prices mixed in active trade Gold shares on TSE up TORONTO (CP) Gold shares were higher on the To- ronto stock market Monday but other prices continued mixed in active mid-morning trading Responding to record bullion prices on overseas markets, the gold index rose 118 to 41209 Base metals added 24 to 55 82 The industrial index, wide- ly-based indicator of market trend, was off 25 to 153 98 and western oils 81 to 109 91 Declines were slightly ahead of advances, 141 to 135, with 208 issues unchanged Volume by 11 a m was 000 shares, up from at the same time Friday Among golds, Dome Mines rose 1 to Camflo unchanged 3 79'A July and Oct not open Corn Dec March May and July not open Barley Dec 1 "2 higher 2 94' z May ivi higher 295V2 July unchanged 291V4 Oats Dec unchanged 1 93 May un changed 1 88 July not open Rye Dec Ma> JuK and Oct not open Livestock Calgary CALGARY (CP) Receipts to 11 a m Monda> from the Calgary public stockyards totalled about 100 head mainh slaughter cows and feeder cattle Trade on D3 4 cows was dull with a narrow demand Sales were steadj to 50 cents lower than Friday s close There were too few slaughter steers heifers and good cows sold early to es tabhsh a market Cows D D3 16 to 18 D4 12 to 16 There were too few feeder cattle or stock calves sold to establish a market Hogs base price 51 50 The Calgary public livestock market will be closed to trading on Christmas Daj Boxing Dav and on Friday Dec 27 The usual facilities for the handling of livestock will be available Fort Macleod FORT MACLEOD On offer by Fort Macleod Auction Market last week were 1 285 head of cattle The Market was easier on all classes of slaughter cattle with the bulk of the good quality feeder cattle selling strong more pressure on the medium and plain qualit) kinds SLAUGHTER CATTLE Al and A2 steers mostly low yielding kinds 46 50 to 47 30 AlandA2 heifers short fed kinds 37 50 to 39 Dl and D2 tows 20 to 22 D3 cows 16 to 19 D4 cows 12 to 15 good bologna bulls 20 to 21 50 medium and plain bulls 16 to 19 STOCKER AND FEEDERS Good feeder steers 42 to 45 10 good feeder heifers 30 to 35 80 good steer calves 38 to 40 Extreme pressure on all classes of medium and plain quality stocker and Egg prices EDMONTON (CP) Weekly egg and poultry report issued by the federal agricultu-e department EGGS To producers A large 73 A medium 70 A small 50 B 55 C 18 cracks 27 Toietailers A large 83 88 A medium 8086 A small 61 69 (three cents extra in cartons) To consumers (in car- tons) A large 85 97 A medium 83 96 A small 75-82 POULTRY To producers Live No 1 chicken broilers 35 6 and over 40'2 5 and un- der 6 34 Fowl under 4 46 Turkey under 12 40 12 to 18 40 over 18 38te Live No 2 chicken 6 and over 36V2 5 and under 6 31 Turkey under 12 37 12 to 18 37 over 18 Dollar value MONTREAL (CP) -US dollar in terms of Canadian funds at noon Mon day was up 50 at 98 47 50 Pound sterling was up 9 100 at 30 23-100 In New York the Canadian dollar was down 3 aO at 01 7 100 PoLnd sterling was down 1 20 at 32 7 10 feeder cattle with buyers showing no interest in these kinds Wednesday at Highwa> aZ Feeders Al and A2 steers 47 to 47 20 A3 and A4 steers 4550 to 4640 Al and A2 heifers 39 to 3950 Holstem stcc.s to 3950 On ednesday at the stock cow and bred heifer sale 183 head sold Top cows to and top heifers to Hog prices EDMONTON (CP) Prices to 11 a m Monday provided by the Alberta Hog Producers Marketing Board Fndav s prices in brackets Edmonton 51 3o (51 38) 51 50 (51 67) Red Deer 5135 (5151) Hogs sold to 11 a m 955 Hogs sold Fndav 1 134 average 5152 Sows average 30 95 Market trends MONTREAL (CP) Prices were generally lower in light trading on the Montreal Stock Exchange Monday Volume at 11 30 a m was 260000 shares compared with 283 700 shares at the same time Friday Banks fell 1 07 to 206 82 papers 96 to 95 78 the composite 38 to 153 47 in dustnals, ii to 154 84 and utilities 17 to 11987 Canadian Imperial Bank of Commerce fell to QSPLtd '2 to and Molson A Jn to while Distillers Corp Seagrams rose Mi to and International Nickel A "4 to Among speculative issues Mac donald Mine roie four cents to 98 cents after trading 19 800 shares VANCOUVER (CP) Prices were up in light trading on the Vancouver Stock Exchange Mondav Early volume was 14 383 shares In the industrials Key Industries was unchanged at 07 on 2 000 shares In the mines Green Eagle was up one half cent at 12 on 17 500 shares In the oils Plains Petroleum was up 01 at 06 on 10000 shares First hour volume on the curb ex change was 10600 shares Abaca Resources was unchanged at 37 on 4 000 shares NEW YORK (AP) Stock prices moved broadlv lower todav amid deepening pessimism over the United States economv The noon Dow Jones average of 30 industrials, on the York Stock Ex change iNYSE) was down 821 at 59027 Among Canadian stocks Dome Mines among the golds gained 1'j to International Nickel rose to 19' 2 and Distillers Seagrams i to 32" Canadian Pacific was down L4 to 13J4 Alcan 'k to Massev Ferguson to and Hiram to 353s Golds were strong in reaction to the advance in gold prices in Europe ASA Ltd rose to 77's and Homestake Currencies MONTREAL (CP) Mondav s mid dav foreign exchange selling rates supplied bj the Bank of Montreal Bermuda dollar 1 0100 Denmark kroner 1770 France franc 2260 Germanv mark 4190 Japan ven 00340 Mexico peso 0805 Spam peseta 0177 Sweden kroner 2440 Switzerland franc 4070 United States dollar 9920 United kingdom pound 2 3400 USSR ruble 1 3026 Quotations in Canadian funds Give us 30 minutes, and we might talk youozrfofan K.iY.S.r! How's that for a switch? While others are probably trying to talk you into a Registered Retirement Savings Plan why would Metropo'itan Life talk you out of one' Because for many people an R R S P is a great investment For others its not It would take us maybe a half hour to find out your needs before you make a decision invest 30 minutes with us We II your present circumstances discuss your So analyse future prospects and give you an honest answer Then if we don t think an R R S P is a good idea for you we II tell you Phone any Metropolitan Life office and arrange to see one of our representatives He can give you all the facts about R R S P s The straight facts Where the future is now Metropolitan Life C. Stan Verlinden Representative 414-2181 Street South Lethbridge Phone 327-3550 Can firm introduces soft drink container It's a two-way street New York (Supplied bv Richardson Securities of Canada) Amr 4387'A Woolworth 8 Anaconda Westmghouse Elec Beth Steel 2425 US Steel Chrysler 7 Gen Tel Elec 1675 Comsat 28 00 TORONTO AVERAGES Dupont 8900 20 Industrials 153 82 down 41 General Motors 3062% 20 Golds 411 64 up 11 40 Gulf 1675 10 Base Metals 55 77 up 19 Int Harvester 15 Western Oils 10930 down 1 42 Konn Copper 35 Volume 1 Montgomery Ward 1337Vz NEW YORK AVERAGES Sears 20 Industrials 59035 down 8 13 Exxon 6175 20 Rails 139 50 down 1 35 Texas Gulf 2550 15 Utilities 66 20 down 22 Texas CO 20 37V4 65 Stocks 192 29 down 2 12 Wix Corporation 7 Volume 7 510000 TORONTO (CP) The Continental Can Co of Can- ada has introduced a soft drink container it calls En- vtrocan, in the wake of the On- tario government's an- nouncement that the industry has agreed to do away with detachable pull-tab tops The company says it hopes the all-steel can with a pull- back aluminum strip over holes m the lid will replace the pull-tabs, which require aluminum lids oceans and are sharp-edged hazards to the bare-footed It also says the new alumi- num strip stays atiached after use and the all-steel can will be easier to recycle Clive Goodwin, executive director of the Conservation Council of Ontario, reacted Sunday with a chuckle and a sigh They do a fiddly thing to the top of it and call it envi- ronmentally significant7" Environmental and con- sumer members of an envi- ronment ministry study group on solid waste wanted throw- away pop containers banned They were outnumbered by industry representatives on the 11-member team If you pay unemployment insurance premiums then you have the right to apply for unemployment insurance) benefit whenever you have an interruption of earnings. That's your right. But the right to receive regular benefit is balanced by an obligation; an obliga- tion for you to be actively and sincerely searching for work. If the job you want isn't available, look around. Often there are jobs you can turn your skiiis to that are just as rewarding and some-) times more secure. Be realistic. Look at all the jobs in your area. You have the right to regular unem- ployment insurance benefit only as long as you're tookj ing for another job. That's your obligation.