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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 27, 1974, Lethbridge, Alberta 32 THE HERALD Friday, 27, 1974 All TSE stocks higher in light morning trade TORONTO (CP) All sec- tors of the Toronto stock mar- ket were higher in light mid- morning trading Friday The industrial index rose 0 14 to 153 93, golds 5 10 to 39926, base metals 032 to 56 33 and western oils 0 02 to 11023 Advances outnumbered de- Market trends MONTREAL (CP) Prices were higher in light trading on the Montreal Stock Exchange Friday Volume at 11 30 a m 100 700 shares compared with 353 500 shares at the same time Tuesday Utilities fell 31 to 119 28 the com posite 29 to 153 29 industrials 28 to 154 80 banks 26 to 206 46 and papers 18 to 95 30 Alcan rose to S19 Stelco 'n to Simpsons '4 to Inter national Nickel '4 to and Domi nion Foundries lt to Winnipeg grain WINNIPEG (CP) Most prices were down at mid session in a light of trade on the Winnipeg Commoditv Exchange Volume of trading Tuesday was 3 866 000 bushels of feed wheat 901 000 of oats 711 000 of barley nil corn 152 000 of 12 000 of flax and 1 243 000 of rapeseed Mid session prices Thunder Bav rapeseed Dec 12 lower 8 OOA Mav 13 lower 8 23 July and Ott not open Vancouver rapeseed Jan 17 lower 8 37B March 14 lower 8 29 June 16 lowr 8 17A Sept 16 lower 7 90A Flax Dec 9 lower 11 48Ai Mav 19 lower 10 424 Julv 26 lower 9 94 Oct 19 lower 9 80A Feed wheat Dec unchanged 3 78A Ma> 1 lower 3 77A Julv and Oct lot open Corn Dec lz lower 3 90'zA March unchanged 3 78 Ma.7 and July not open Barlev Dec 2 lower 2 May 2'z lower 2 93'4B Juh '4 lower 2 Oats Dec unchanged 1 93A Mav 1 lower 1 84A Julv not open Rve Dec 5 lower 2 85 Mav 9 lower 296B Juiv 11 lower 2 MI'zB VANCOUVER (CP) Prices were up in light trading on the Vancouver stock exchange Friday Early volume was 106 825 shares In the industrials Key was up 01 at 06 on 10 000 shares In the mines Wharf was down 01 at 34 on 38 500 shares In the oils Coynex was unchanged at 94 on 2 500 shares There was no trading on the curb ex- change NEW YORK (AP) Continued recession prospects halted a two-dav rally in the stock market today and left prices slightly lower in quiet trading The Dow Jones average of 30 in dustrails on the New York Stock Ex change was off 1 56 at 603 18 As trading began the government reported that its index of leading economic indicators slipped 1 5 per cent m November for its fourth straight monthly drop The index is de- signed to foreshadow developing economic trends Texaco was the most active issue on the IWSE rising to 205s Getty Oil gained 4'z to 155 on top of a 5 point rise Thursdav when the com panv announced that tests had con firmed a potentially significant hydrocarbon discovery near Mobile Ala On the American Stock Exchange the market value index lost 20 to 5931 Syntex the volume leader on the Amex rose 5s to 393i Canadian stocks were mixed Distillers Seagram gained 'B to 32'A Hiram Walker 3s to 354 and Campbell Rea Lake to 32Vi Canadian Pacific lost 's at 13% Lnchanged were Dome Mines at 48'4 International Nickel at and Massey Ferguson at Dividends By THE CANADIAN PRESS CORPORATION DIVIDENDS Tuesday quarterly unless otherwise noted Automotive Hardware Ltd class A 15 cents B 12 75 cents both pavable Jan 15 1975 record Dec 31 1974 Bank of British Columbia, 30 cents annual Feb 3 1975 record Dec 20 1974 Las' dividend payed on Aug 30 1974 in the amount of 50 cents Djon Development Corp e8 jv Scents Jan 25 1975 record Jan 10 1975 Dominion Dairies Ltd 25 cents first following stock split Jan 15 1975 record alh974 hi chi IhO jtSirwin Ltd class A seven cents semi annual increase of two cents class B 5 95 cents semi annual increase of 1 7 cents both payable Jan 31 1975 record Dec 31 1974 Metropolitan Stores of Canada L d 17 cents semi annual increase of two Dollar value MONTREAL (CP) US dollar n terms of Canadian funds at noon Tn day was unchanged at JO 98 21 25 Pound sterling was up 1 23 100 at 31 1725 In New the Canadian dollar was unchanged at SI 01 17100 Pound sterling was up 1 5 20 at 34 2 5 cents Feb 21 1975 record Jan 31 1975 Toronto Dominion Bank 35 cents increase of two cents Feb 1 1975 record Dec 31 1974 Corporation dividends Thursday quarterly unless otherwise noted Bow Valley Industries Ltd per cent pfd series A 27 5 cents Jan 15 1975 record Dec 31 1974 Bell Canada 34 pfd series B 83 cents Feb 15 197a record Jan 15 1975 23 pfd series D SI 19 March 1 1975 record Jan 31 1975 Canadian Foundation Co six per :ent pfd series A 30 cents Jan 20 1975 record Dec 31 1974 Celanese Canada Ltd 10 cents SI pfd 25 cents 81 75 pfd 43 75 cents all payable Jan 6 1975 record Dec 31 1974 E L Financial Corp Ltd pfd series A 12 5 cents Jan 15 1975 record Dec 30 1974 Hayes Dana Ltd class A six cents class B 5 1 cents both payable March 28 1975 record March 14 1975 Imasco Ltd class A 30 cents class B 25 5 cents both payable Jan 31 1975 record Jan 3 1975 Toronto Star Ltd class B five cents class C 4 25 cents both payable Jan 15 1975 record Dec 31 1974 Lincoln Trust and Savings Co year ended Oct 31 1974 000 68 cents a share 197 i S564 000 72 1 9 7 5 SEASONAL PRODUCTS Calendar stands and refills Calendar pads Daily journals 0 Week at.a glance Diaries and date book AVAILABLE NOW AT CHINOOK STATIONERS LTD. 319 7th St. S. Phone 327-4591 chnes almost two to one with 101 moving up, 52 declining and 123 remaining unchanged Volume by 11 a m was 000 shares compared with at the same time Tuesday Inco B gained to Al- can to Cadillac Fair- viev to Inco A to and Transair 30 cents to Imperial Oil A fell Vz to and Canadian Imperial Bank V4 to Hudson Bay Mining A was up 'A to Sherritt Gordon 20 cents to 40, Gibraltar 15 cents to 90 and Agmco- Eagle V8 to Camflo fell to Pamour Vs to and Mentor 5 cents to 55 United Canso moved up to Pan Ocean Vs to Skye 10 cents to 50 and Western Decalta 10 cents to 95 Can Southern dropped 11 cents to 54 Chicago markets CHICAGO (AP) Farm commodity futures fell sharplv on the Boara of Trade Thursdav with sovbeans soy bean oil and oats closing on limits lower Soybeans lost 20 cents a bushel for the second straight day sovoean oil was down 100 points and oats 6 cents a bushel The 100 points >s equivalent to 1 cent a pound Corn futures fell the limit of 10 cents but closed a fraction off the bottom Wheat was down 11 cents and sov bean meal a ton There was very little support for commodities m the sov bean complex and some rather active commercial selling on the opening For a few minutes after the opening a rally set m but it was short lived and prices plummented before the session was two hours old Some trade source1; thought a big factor in the selling was an unconfirm ea report that deliveries against the Januarv cont-act Ahich expires next month will be heavy This occurs at times in a declining market As prices in 'he complex tumbled corn oats and vvhtat lost their support ard prices fell back One distant corn contract touched the bottom and some deferred oats contracts hit the limit It was thought that expectations of heavy feed grain production in 1975 remained a strong selling fdctor The loss in the wheat pit totaled 17 cents just 3 cents under the limit at on0 time Prices advanced a little as shorts tried to get out at the close At the close so> beans were 20 cents a bushel lower Jan b97'i wheat 81 to II lower March 4 51 corn was 7'z to 9'4 lower 3 34 and oats were o to 6 lowe" March 1 58'4 Currencies MONTREAL (CPl Fndav s mid dav foreign exchange selling rates supplied In the Bank of Montreal Australia dollar 1 3100 Bermuda dollar 1 0100 China'renmmbi 5250 Denmark kroner 1770 Franco franc 2260 Germany mark 4190 Hungary fonnt 0413 Italy lira 001560 Japan >en 00340 Mexico peso 0805 Netherlands guilder 4040 Spain peseta 0177 Sweden kroner 2440 Switzerland franr 4070 United States dollar 9920 United Kingdom pound 2 3400 I, S S P. ruble 1 1026 Quotations in Canadian funds Treasury bills OTTAWA (CP) New 91 day treasur. bilK issued this week S250 million at an average price of 98 274 and an average yield of 7 12 per cent last week million at average p. ice ot 98 216 and average yield of 7 28 per cent 182-dav m.liion at an average prut of 96 642 and averagevield of 6 97 per cent Last Meet. million a, averuge price of 602 and average yield of 7 05 per tent WASHINGTON (AP) United States in 1975 will lease a record 10 million acres of offshore land for oil ex- ploration Senator Lloyd Bentsen savs that by changing its leasing policy the govern- ment could make an extra billion on this and future deals Bentsen, a Texas Democrat, has introduced a bill in the Senate to increase the percentage the govern- ment would receive from the amount of oil taken from the outer continental shelf The bill is opposed oy many oil companies and by tne inte- rior department, which is con- sidering various schemes for increasing government revenue from offshore oil Under the piesent bid system an oil company operating on federal offshore land pays the government a royalty of 16 6 per cent of the oil and gas produced The government's principal com- pensation comes from the large cash bonuses which the companies pay m bids for the right to drill on these tracts Offshore oil has become ex- tremely mportant to U S future energy needs, and the interior department is increasing the leasing of tracts The 10 million acres to be leased m 1975 compares with a total of 12 million acres leased since the program began 20 years ago Bentsen has chosen the so-, called Indonesian plan as a model for his proposal It is a production-sharing concept first adopted in Indonesia and now used m various forms by 11 countries, including Malaysia, Burma, Nigeria, Tanzania and the Philippines The Bentsen bill an amend- ment to the Outer Continental Shelf Lands Act, provides an increase to 36 per cent from 16 6 per cent in the amount an oil company would pay the government from production revenues until exploration costs are recovered After that, payment to the govern- ment would rise to 60 per cent, minus operating costs The bill would apply to all leases awarded after .ts enactment The present outdated procedure for selling these leases not only deprives the American people of revenues from public lands, but it is retarding development of vital domestic sources of gas and Bentsen said Trading in gold futures expanded WINNIPEG (CP) An of- ficial of the Winnipeg Com- modity Exchange says that effective Monday, the ex- change will increase the max- imum allowable daily change in gold futures prices to from K Brute Macmillan, the ex- change s chairman of the board of governors, said m an interview the change is in response to the decision by several U S exchanges to introduce trading in gold futures with a daily limit Also effective Monday the exchange will expand the dai- 1> gold trading hours by one half hour with trading open- ing at 8 30 a m CST and clos- ing at 1 15 p m Mr Macmillan said the board viewed the changes as necessary for the Winnipeg exchange to compete with American exchanges The 1003 4th Avenue South, Lethbndge Telephone 329-4426 decision was reached at a board meeting Dec 18 Other technical changes were also decided upon, including the decision to allow United States treasury bills as collateral on margin ac- counts Trading in gold by U S citizens will become legal Dec 31 U.S. Jews urged to buy Israel bonds NEW YORK (AP) Golda Meir former prime minister of Israel has urged U S Jews to continue purchasing State of Israel bonds "to prevent a dangerous setback for Israel's entire economic structure Ending an 18-day tour of the United States in which she raised 65 million in the sale of the Israeli bonds Mrs Meir addressed Jewish leaders here who paid a couple to hear her Noting the emergency program of austerity adopted by Israel last montn, she said that 'In the present crisis, the Israel bond program is needed to maintain our economic life to create jobs for new immigrants to keep our factories going SAVE S3OOO Turkey surplus in millions REGINA. (CP) There will be 45 million pounds of surplus turkeys when the new year be- gins officials say Harry Robbins of the poultry division of the federal agriculture department said the 45-milhon-pound carryover is more than 20 million pounds greater than last year But secretary Fred Longstaff of the Saskatchewan Turkey Marketing Board said the ac- cumulated turkeys will not be wasted as millions of surplus eggs were earlier this year The turkeys will be frozen and stored for later use, he said Mr Robbn.s attributed the national surplus to a large carryover from last jC2r and a slight rise in production Turkey consumption has in- creased seven per cent from last year, he added Store names top officer VANCOUVER (CP) N W Woodward, chairman of Woodward Stores Ltd has an- nounced that C R (Reg) Clarndge will become com- pany president Jan 28, succeeding Thomas R Farrell, 60, who is retiring Mr Clarndge, an employee of the Vancouver based department store chain for about 40 years, has been ex- ecutive vice president The HcraU Business Stocks Miscellaneous Vancouver, Calgary Midland Doherty Limited Recirculated water Cooling water lines for Petrosar's world-scale ethylene plant, south of Sarnia, Ont, are being located on the plant's 400-acre site. Positioned in an 18-foot trench these three 48-inch diameter pipes will tie into the plant's various processing areas. Petrosar will be the first plant in the Sarnia area using recirculated water for all water cooling U.S. to set '75 record for offshore oil leases WESTERN Oil AND Bay 00 Alton Bay Albany Bay Oil A Alta East 75 Asamera Ashland Oil B Pfd Husky Oil E 360 BP Canada Brenda Mines Cda 1 Pipe War Interprov Steel Kaiser 50 11 75 460 Cdn Ex Res Cdn Co C Cdn Ind Gas Oil Cdn Long Is Cdn Pacific Pete Pe Ben Oilfield 1350 1 95 Chiettan 00 Dome Nufort Grp Giant Gibraltar A Gt Cdn Oil Lochiel Lytton Gas Trk North Cdn Oil Numac Oil 8 87 Gas Trk Pfd Alta Nat 1450 Pancdn 87 85 Pan 62 Metro A Nat Palo C 62 Place C Gas B Cda Ranger Cda A Scurry Cda B Cda Pipe Total Trans 48 Ulster United West West Acres 05 BC Sugar C Block 50 Canbra Foods Cdn Pac Inv A Mines 70 07 Cdn Pacific Carlmg O Keefe A Carlmg O Keefe B Pfd Comm Cap 1 Copper Crestbrook Crowsnest 35 Falcon F M Trust 2 Home Oil Intl Toronto mines, industrials (Supplied by Richardson Securities ot Canada) MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Bovis Rrunswick Can JW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons Rambler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines DEIdona Dome Mines Discovery Mines East Malartic East Sullivan Falconbndge Frobex First Mantimes Giant Y K Granduc Hollmger A Hudson Bay MSS A Hydra Ex Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G F Martin Maclntyre Meta Midrim Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Norlex Pine Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Sherritt Gordon Steep Rock Sunnmgdale Tek Corp A Texmont United Canso Western Vines WH Copper Mines Wrght Willroy Windfall Yellowknife Bear Zenmac INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Agra Ind Bell Tel Brascan A Tei 1 Forest 1 Sugar 1 Valley Ind Ind Power Foods Cellulose 0 Keefe Credit Gas, Pfd 1 Ind 1 Marconi Vickers 1 3 Bathurst Gas 4675 200 Seagrams Dom Bridge Domtar 1 Textile Stores Pete 11 Mobile 1 Cdn Oil Motors Lakes Paper Oil Sid Walker A Erie Oil A A Nickel 05' Pipe Gpr A Intl Ltd 07 Douglas A 1 itide A Ferg Bloed 12 Corp Molsons A Olsons B 13 Cert 13 Corp Co s 4 CDA Sears 1 Can A A 1 Grp A Mtr Pipe 1 Can Pioe 1 Carbide Gas 1 Oil Siscoe Mfg A 24 62' Imper al 4 Scotia 9 Dom 4625 700 950 19 12 9 1000 675 2200 235 405 1 75 325 1 55 825 1700 265 11 25 1362 2 2375 2275 1450 31 75 1675 625 1537V4 1625 21 1 50 300 3062 1450 2425 11 75 390 3500 2350 2237 2 2300 1962% 11 25 8 37'2 1675 500 1 20 440 205 475 1075 1325 21 00 41 12 1237V2 1275 6 37'2 7 75 2 15 750 13 850 11 75 6 37'2 900 2450 11 00 2350 1025 837 2 1423 700 775 225 500 22 1775 2075 11 75 3450 2550 31 75 New York (Supplied by Richardson Securities of Canada) Steel up BUY DIRECT FROM BUILDER 3 Bedrooms, Bath and a half. 327-6206 LONDON (AP) British Steel Corp will raise its prices 20 per cent Jan 2, the state-owned firm has an- nounced The increase brings the total hike in the company's prices to 45 per cent in nine months The firm said the latest in- crease is expected to bring in an additional year to offset rapidly rising costs Amr T T Anaconda Beth Steel Chrysler Comsat Dupont General Motors Gulf Int Harvester Kenn Copper Montgomery Ward Sears Exxon Texas Gulf Texas Co Wix Corporation 44 Woolworth 9 QO Westmghouse Elec 825 25 00 US Steel 37 75 750 Gen Tel Elec 1675 27 75 TORONTO AVERAGES 9025 20 Industrials 15453 up 74 31 25 20 Golds 397 58 up 3 42 1700 10 Base Metals 5627 up 26 1887V2 15 Western Oils 11038 up 17 35 50 Volume 473 000 13 75 NEW YORK AVERAGES 48 50 20 Industrials 603 64 down 1 09 63 20 Rails 141 09 down 42 2575 15 Utilities 66 52 up 03 65 Stocks 19547 down 34 7 62% Volume 5 270 000 Earnings By THE CANADIAN PRESS Argus Corp Ltd year ended Nov 10 1974 111696000 a share 1971 251 000 55 cents Central Patricia Gold Mines Ltd nine months ended Sept 30 1974 066 000 no per share figure 1973 Conwest Exploration Co Ltd nine, months ended Sept 30 1974 no per share figure 1971 Home and Pitficld Foods I Id 39 weeks ended Ort 26 1974 000 95 2 cents a share 1973 069 000 54 6 cents ;