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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 27, 1972, Lethbridge, Alberta Miscellaneous quotations Vancouver, Colgary, Montreal t.SuppJJfcfJ fov Dnherty, Limited) LAST till) OK f-AI-E 27, 1973 THE UlHBPiOOE 21 WINNIPEG: t V-SS'-'.: WESTERN OILS World market place tor gold futures Market prices up in active trading B.v WILLIAM BUKUKItS siS{ New York Times Service 5 H WfNNIPEr; Wheat is still U I fcing in V.'inraptg, ljul buyers tiany parts of tte world i are IwAing a! a more glamor- rjus cornnrxiity that has just i> to tr.e market in this farming I Since UK; midrte Neiwm- Uie Commodity i Exchange has doing a brisk trade in ?old futures. trading the a'.tunlinn 'A Sv.-ir-E [bankers. Middle Has.'. Kuropean jewellers, and some can speculators. v.h'j lav, v.'ithixji retaking '.h? '.he firM imjfitri trading. rticls ior alxj'jt 515 million h of have been sold !.t of the exchange, a a nonde- PIPE UKE 1TCCKS TORONTO on the Toronto stock market v.e-e mixed in active mid-morning Irading today. The industrial indtx. consid- ered a major indicator of mar- Vet trend, moved up .12 to and western oi 272.38. Gold-, v.f-re of and bar-.e 82.23. Volume at II a m, ri-6e sharply to compared with 342.000 shares trader] at the same tirre Friday. Rym Petroleums U'J. trade more than one million sharer- O i 1 refining. hanks, steel and trast and loan v.cre among actors of ths mar- ket recwdina sains while res! estate, chemical paper and Io-- est and general manufacturing were dov.n. Advances uere nearly do'jh'e declines. 135 to 77. aral Ml is- sues remained IMPERIAL OIL I.'P Imperial Oil up 'o M'j-'-t. Murritt I'hoiofax -0 to si. White F'bis Yukon to Foodex Systems to and Crush International to Dylex Ltd. slipped 1 to S22. Dome Petroleum to to m': and BP Car.ada :4 to Tara Exploration moved ahead to Gor- don to Hudson Bay U.S. firm plans pldnt in Canada 'AP Mining V to Rain Pwrrr It-yms to S3.15 and Numac Oil :s to Chilxiugarnau de- clined .2.5 to W.40, Malarctic Gold to ejf, cants, Eankeiw Miijts 05 to Oil to and Canadian Home- iiciid to LlfiHT TRAUK MONTREAL i CT Utilities ivere the only exception to across-the-board advances irj light trading on the Montreal market today. Combined volume on the Mori- j treal snd Canadian ex- j .changes at 11 a.m. 1B8.0M shares, compared vrith at the same time Frfey Banks roie 1.33 to 2JW.45. in- dustrials 1.10 to 245.78. the com- posite ,7.'i to 232.40 and papers .11 to S'J.31 v.hile utilities dropped .30 to 158.18. On the Montreal Strxrk Ex- change Imperial Oil 1 to WS'J Hudson Bay Oil i and Distillers-Corp. Sea- 2rams to while Urc Corp. dropped 1 to Canadian Ez- .croli two i 27 cents on 7.774 GovL unable to persuade auto makers to cut prices town only i ures. "If Tne U ung at I' h the Ior gold 1 o sa y v. h at j'j v.iJl be. but so fur has ij.s ear-h mor- ISDUSTRIH. fMJTUAL FUKDS an by Cany da Toronto mines, industrials By Sec-nrities ot Canada) LAST BID OR SALE H'-y; TAS VEGAS. Nov firm that says it has a non-polluting copper smeUing process has A contract to develop a pilo: p'an' !ri On tario. firr-. vJ Smel- ters InUr-Tiationai. ex- clusive licencing righvs to tht process in Canada to Refining Co. and KJiborn n g. Ltd., s '--U'> Eaid Tuesday. Lj-nn E. Burr, pro-ii'Jer.l of Associated Smelters. his ctnTjpany will recc-u'e a royalty payment of S5 a ton under con tract, F'urther of the technique, the dual- reduc-tion process. the pi- lot program wii! er-ahie 'he company to expand into other areas of the world. Burr said. Tne process, which under devtlopmtfit for four vears. cuUs nrjwn on the eiriLs- Eion of sulphur dioxide, he said. The pilot plant v.iii iri the Toronto arts, be On the change. tents U share-- D.IA YORK Tne stock market hardly budged lo dav. with last-minute tax-loss roughly balanced by bar- SLin-hunters' buying. noon Dow Jones average i of indus'.rial was down j flOB U? 1.000.62. Declines raa sJiahtK" ahead of advances co i the" New York Slock Exchange moderate trading. Tne N'ew York Stock Ex- i change index of some j rommon stocks was up 0.17 to I friTJ- Tre price-change iodex at j fhe American Stock Exchange off 0.0-5 to 26.17 at noon. record car salts in mid-Dfi- i ct-mber helped auto stocks per- form weli. Chrysler was up to Ford up J? to General Motors up to price automobile makers after apparent j tempts persuade the cwjj- panif-s to ihink A J ter wye ks of nea ot all ons v.ith the so-talJed Big Thrte auto I-'ord and announcement Monday in the name of Minister Alav tair iaid only that GM i and had pledged not to make further wholesale price A department spokesman that ''we're iiue Chrysler wvoid undertake trie tame kind of commitment" as GM and Ford. OUT officials had been unable f> reach Chrysler Canada itit'-: r the Christina.1-. i Tne Federai iayirs? that in v.ith the bt wa- pleased the companies hyve in keeping tne objectives of the Canadiau oov- ernrnent on prices." In an evident reierente to Ch s le r. m ijnt i on t d in the it as [x-ctvj- thfit other manulac- turers in Canada afrf-r- to the sa me or f utur t pricing as GM and Affer explaining thst Chrysler could not b? rf-ac'rifi ihfc Christ weekend, yrj inr'-Klry cep art ment official aslx-fj 'Ahe'.htr the an- nouncement hart to rus made Boxing of- iices any spe- cific reason The laid ibe tiiri- bad beer: ?et by nrj'ni.s- K-r. .''.jr. holidaying in Trie Barbadov v.ay lina vail able '-ornrnerit. V.'slker-Goo-derham was up lo and Dome Minef to DLstillers Seagrams was off i at On the Amex. were rhown hy Canadian Javelin and Scurry Rainbow Oil-- to 6'-j and SJ6 respectiveiy, Neonex was up at New York stocks (Supplied By Richardson Sec-nrities of Canad Dollar Value MONTREAL 'CP' t.S. dollar in terms of Canadian funds at noon today dwv at Pound sieru'ng up 5- Ifj at S2.33 1-VI6. NKV.' YORK fCP) Cana- ciisn dollar in terms of U.S. funds at noon up 1-16 ai Si.Wi F'ound sterling up l-t at YORVC AVEfl fiGES TORQflTO AVc R tGE! Calgary livestock CAJ.GARV Ro-eipU on ihe livfcstock mar- ket to 11 a.m. totalled mostly stter-i ar.d 'Trade fairly active, i Slaughter steers were barely steady v.i r h no stric t h- choi ce kinds on offer. Insufficient heif- ers were offered to a market, Cows were steady with 1 good kinds scarce. Choice slaughter steers 37.50 to ?3. good S6.25 to 37 25. medi- urn to 24. Good covo 26 to 27. medium 23.75 to 2.5.75. can- and cutters 19 to 23.50 Replacement cattle were scarce with most of the offer- i ing steers 900 pounds and more selling steady. A fe'A- good i stock heifer calves were fully Good feeder steers m o r e than 750 pounos 36 to 32 Good heifer calves to 44.50. Hogs price 37.90. Mr, afiposnted min- ister of trade tnd commerce one month ago. had said this month that he ELS trj'ing to persuade the auto j marjufaclurers to roll hack the prifr- increases He had refeired to possible LLve of undefined mears'jres be- naent from ihe companies. i WOULD REDUCE GAP Behirxi his efforts at per- suasion was government policy. I tet Mr. Giiiespie's piedeces- SOT, Pepin. to hrins Canadian prices for Xorth I American cars closer to the I" S prices for the same models. Under the U.S-Csnads a ut rj pa ct. N or th American aulo manufacturing; has been initgreted. the price 1 gap had been narrowed to an average three to four per cent by 1970 But by this year. Cana- dian prices -.vere outstripping U.S prices by an average of about eight to nine per cent _'. Since 1. the Three1 ait have increases in wholesale prices in both the i Uniteo Stetes and Canada on t he ground s t hs t prod u ciion cosU had risen under safety and exhsost-emission standard? by the U S. govern- ment. General Motors announced in- cresses of a unit in the L'.S in Canada; Chrysler 540 in the L'.S S37 in Canada; ford a unit in both countries. Mr. Gillespie had argued {hat t he price increases i n Ca n ada v. ere too high, because they failed to reduce significantly the Canada-L'.S. price difier- erjce. especially io31ov.iris major tax anno-jnced for rnsnufscturcra in Canads Kelp won't help hunger problem V___' LOS ANGELES t AP; A3- tint though it improves the head on a slc-s? of beer, seaweed will ftreakJaji. not save the world from hunger North said in the future, says a ciiemersi kelp Uds" to be a significant source o n 3 filer vi fw a oou; notion trial future eat seaweed for ioncn and dinner "I think the es- va- little pre- naly v, ted harvfcs'ed in gre; t i! y by V rd t ed Sta tes con'sins some esb-en'Ja of sea- t quan- mine; G prices Winnipeg Grain Aii' raids break lull By DAVID LANCASHIRE TEL AVrV 'AP.' Isrseli crossed the ceasefire line with Syria today fo bomb and rocket an Arab euei-rilia base. Syrian army positions and an artillery in reprisal for guerrilla attacks, the Israeb military command announced. The a ir ra i ds br ok e s f i'. e- lull on the front along the occupied '-vhere the h'javicsi fighting since the I97fi cease-fire flared N'ov 2i Tne Israeli command said all returned .-afelv damage or Arab casualties USF In the federal budget last May 13, the government an- nounced that the tax rate for m a n u f ac t ure r s would be r e- ciueed Jan. 1 'o a rate of 40 per cent from 49 per cent. Finance Minister John Turner has said that the reduction would take effect as promised. Follov.inp discuv-iJonE all three companies during the lasi nionth. the government an- no uncemen 1 said that GM and of Canada had. assured Mr. Gillespie that "there be no in the '.rholesale price of mode! ca r? in Canada above their lev- el "fn Esrinitiori. the companies have ac-cepierl the government's objective of significantly reduc- ing the differential in car price- betv.een Canada and- the L'nilfid States." Tne l.-i'f'-'Jterrioon re- 1 ihe had undertaker: U- pursue the objec- tive of -d rrrduced price in future A narruv. ing of the price difference should ben- efit -re consumer, ihe workers the companies, it ?aid WINNIPEG -CP All com. mod 2 tie; excepl posied fractional gains in a moderate volume o: trade at mid-sisSsion on the Winnipeg Commodity Exchange today. Fiax were trxf-j; or.t cent off previous close levels. Volume of trade Friday wa? r-37.000 bushe-L" flax, "i f-STj of and of i ye. ".MfD-SESSION PKICMS: flax. Dec. 1 :4 lower r; 75 May 1 lower JiLly i tow- er 3.75A, Oct. no: open. ftapeseed .Ian. ;i higher 314 un- changed 3.3S '-E: Ju_ne high- er 3.15 Rapeseed Thunder Bav: Dec. 2 ?7 ;4A: May hi2h- er 'i.05 "-iA: July imohaused 3.WB: unchanged 3.05A" Oat Dec. unchanged 93A: j-May higher l.CO -4: July in- changed 97 :-B. Oci. unchanged Barley: Dec. unchansed 1.4J. I'.Jay higher July higher 1.44 Oct. un- changed 1.43E Rye: Dec, 1 higher J.WB. Mav higher July 2 -V 1 higher j.71 Oct. r.o: open. aLs. he But it is low in pro- tein and iu carbohydrates are generally indieenible by human Trie Japanese cultivate and consume great deal of algae. Hijrv-'pver, thii is mo.-e for cut- turti like the way nuiritional ones. he iaid. TAKE 150.000 TONS Still, trie seaweed industry continues to be important and year more than tons oif California. About y> per cent of the L'.S crop from the California '.be day'i pnre from Lon- don. v.Vjre ir. L- already afternoon Broker1 repres-rjnl- irig tellers the trading. IJke other commodity mar- kets. gold IK used by trie romps n- that supply for fcj-isrripj'r eis c ,yaf fut'-ue prict fiu''i'jationt. Hut il yets much of iu fluidiiy Irorn spvj'j'alors v.ljij hope Vi make a fas: pioiii. havfi had a lot of buih of gold trading." i u Jf man a i d. but V.T; do.n' t any way of knov-ing how rauch of eacri. and it doesn't realiv niattcr to us IIP Fuidv it impoi- to be certain that no Amer- ican have bounhi gold fuiures. v.'hich the Sure'- treasury ruled wvjld w a of the law fDrbiri- ding Arnt.'.rican-; to gold j "It is the duty of to take reasortable tionr the exchange has form- ally declared, ''to them- se'.ve-" tnat o-f gold fui- ure? aj e the tews of their Q-A-D count Kfc5. Acx.-arciir.gly. brokers he-re sod in other Canadian say that they the citizenship of a prospective gold, b'jy- er. and that ii he turn him down. Bui an I American eager to speculate in sold here could probably do just by pjttmg a couple extra himself and the a.s Huff- 1 man conceded. "The broker ha? knew has customer." he explain ed. But. theoretically, a American could set a Fu ropes n iav.-.x-r and then deal through a European bank which would place the order bact to Winnipeg and the Lord alone would kiiovv aboui it.'1 Tne er- change, which also wals in glittering commodjtie; like barley and oats, began to look" i into gold futures trading soon aiter Internationa} agnrements established the tvo tier sys- tem of in which gold i held by governments, snd goki held pri v ai ely have different values. "As long ft? the price fluclu- i ales and consumption exceed? availability, it seems sensible to have a futures market.'1 Huffman explained. "And we're Canada's only commodity fu'- ures eychange. ?o it's. for it Fiorn trie processed kelp comes aisin, a substance widely u.-ed to stabilize liquid mix- lures. Brewers add it to beer to reduce the head. Ice cream and dressing, as a 1 'We've suffered from tha; he ssJd, "People sat do'A'n and loo-: a good hard looi; ai aigae crd 'oeg an tri i: wasn't to compete with large ter- restrifi] sources of food Now funaing agencies and the public a little disillusioned rate Mr trikes BANFF THE EARTH AS SEEN BY APOUO 17 CREW A (antoslic of 1he sphere of ir.e Earth V, phologrophed from Apollo 17 ipacecroft during the final lunar landing mission ir, MASA's Apollo program. This photo extends from the Mediterranean Sen area lo the Antarctic south polor ice cdp. Note the cloud cover in the Southern Hemi'.phere. Almost tr'j '.-r.tirr: crxistliiK; of Ihe continent of Africa 'S clearly dolineatrjct The Ambion Pcnin-.uia can be- at the northeastern edoe of Africa. The large island off tho south- eastern of Africa is the Malagasy ReWic, The Asian mainland is on the horizon northrjost. Paw, j heavy fin Trie ay through the ft .s reported Hiir day and a hsif aficr snd ides forc- ilso closed snovj. wts no'. j expected be untij late J today at the SAIGON rnitwi ptanp? fit-w strikes of North Viernim in the v-eck rieva-vateH scares of mililan.1 the I" S command said today. Hanoi radio said the bt'-Avifsi I' on arid phonp Tuesday night j with 11 piano? 1 B-525 shot dovr YORK s mercial bank? the o; (wo other big banks and in- thei r :end in 2 ra'es io .-Ix from ufact'jrer? llano; er Tru-' Chemical Bank and Mid la rid Bank increased the cost c: ior their in the tace of the Nixon adrmni-i- traiion'- campaign to coriiro! in- flation keepirs? the on bank iiiterest rates. in the prime are to fluctuation.- in sr.ort- ierm interest rates in th? money mariiet and rx-en n.-ing tbarply recently Friday. First National Ciu Bank, the socond-largeii bani: in the- countrv. and Mellon R-ank of s m a j o r c orr. Hog prices he ricine WL-RI of; the road Ciiri- ton Williem ?.S. nf Sur- rey. killed he pnn'.e ra'f-- citins higher 'o Both Citibank ar.d Mellor. had floating prime raits. are u'eri Uy s lev. of the bark> have for- mulas thai automatically fo'iov. including eight, i movements, in money marViei i rates to determine the prime. SHOW H OPEN TO THE PUBLIC Wed., Thurs., Fri., 7-9 p.m. 1906 Lakeside Road (2 doors N. ef Main Entrance) PARADE HOMES LTD. 328.8535 ;