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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 28, 1973, Lethbridge, Alberta Industrial index gains at Toronto TORONTO Prices on the Toronto slock market moved sharply higher in moderate mid-morning trading today. The industrial considered the major indicator of market was up .81 to 212 S3. The index had one of its largest gains of the year 4.85 points. Golds gained 1.95 to base metals .21 to 92.76 and western oils 4.21 to 245.44. Volume by 11 am. was up from at the same time Thursday. Advances outnumbered declines 222 to 60 with 153 issues unchanged General oil paper and forest and trust and loan stocks were among sectors of the market recording advances while real estate and industrial min- ing groups declined Canadian Corporate Management A rose to Imperial Oil to Gulf Canada to Aquitame 1 to and BP Canada to Rio Algom Mines was up to Yellowknife Bear 30 cents to and United Siscoe 30 cents to Ranger Oil gamed to Pan Ocean to and Siebens 'A to Alcan fell Vi to and Goldlund Mines 10 cents to 90 cents. MONTREAL Prices on the Montreal stock market rose in light trading today. Combined volume OR the Montreal and Canadian stock exchanges at 11 a m. was compared with shares at the same time Thursday Banks rose 2 24 to 268 industrials 2.16 to 237 the composite 1.95 to utilities 108 to and papers 57 to 132 56 On the Montreal Stock Aquitame Co. of Canada rose IVz to Imperial Oil to Dome Petroleum 1 to Distillers Corp.- Seagrams Ltd. to and Canadian Pacific Ltd. to On the Canadian Stock Exchange. Falhnger Corp. rose 10 cents to 54 cents on a volume of shares. VANCOUVER Prices were up in light trading on the Vancouver Stock Exchange Thursday. Volume In the Captain Inter- national was up 03 at .70 on iluies. Athabasca was at 95 on shares. lonarc was up 02 at .71 on shares. Key Industries was down .01 at .12 on shares. Four Seasons was up .05 at .75. Speculators was up .14 at H- In the Northair was up .10 at on shares. Northair Warrants were up 04 at .35 on Yukon Revenue was up at MVi on shares. Barrier Reef was up .03 at on shares. Silver Stan- dard was up .18 at Cutlass was down .06 at In the Rose Pass traded at 35 on shares. Princess Ventures was down a half-cent at .20 on August Petroleum was up .01 at .88 on shares. Chapparal was unchang- ed at .10 on shares. Vargas was up .03 at .12 Seneca Developments was up 05 at NEW YORK Stock prices were lower today in active trading amid last-minute tax-loss selling and year-end adjustments of brokers said. The noon Dow Jones average of 30 in- dustrials was down 4 76 at as declining issues held a 742 to 603 lead over gainers. The blue-chip indicator closed up more than 13 points Thurs- day and up more than 22 points Wednesday. The brokers said year-end trading was having the biggest effect on the market today despite continuation of more optimistic Mideast and oil news that had rallied stocks during the previous two sessions. Among Canadians on the New York exchange. Dome Mines gained to Seagrams V4 to Mclntyre to Massey-Ferguson to and Canadian Pacific 'A to International Nickel dropped 15A to Alcan to and Hudson's Bay to Genstar was unchanged at On the American Brascan declined Vs to Neonex was un- changed at and Scurry Rainbow at Chicago markets CHICAGO Recent weakness in United States and world commodity futures were dispelled Thursday as most futures advanced in price Commodity futures on the board of trade and the mercantile exchange appeared to work in tandem There were weak openings in the major pits with closings ranging from rather firm to strong Cotton futures were up the limit for the second straight day. World wool and cocoa closed on strong tones. coffee and frozen concentrated orange juice prices were and silver lutures were lower. Initial weakness on the board appeared to be a carryover from Wednesday s session when wheat wsa down the limit as oats and soybeans were sharply lower Later new buying developed as prices rose with local professionals among shorts forced to cover positions In the last sharp gams were posted in corn and soybeans but there was some light profit taking at the final bell Other com- modities closed on firm to uneven TREND IMPROVED Rallies on the exchange took several routes after fairly weak openings Live cattle were bought on the premise that marketings would lighten in the next 32 days Live hog futures were sharply lower early but improved with cattle Pork bellies came under early profit taking but nearby options strengthen- ed before the final bell Shell eggs im- proved late on word that consumer usage had widened in recent days The demand for cotlon was strong largely on weather in the United Stales as well as foreign needs. World wool and cocoa buying also appeared to have some foreign in- volvements as sellers backed away un- der the growing demand. There was some profit taking after recent advances in copper coffee and orange juice futures Roaster demand lor green coffee was slow and it appeared lhal some buyers were look- ing to the weather in orange juice lutures Silver futures also came under profit taking with the expiration of the December option Foreign was noted Gram close Wheat Mar 5 May 4 89 Jul 4.37. Sep 4 35. Corn Jul 2 Sep 268. Dec 252 Oats. Mar 1.37'i. May Jul 1 37 Sep 1 37 Livestock Calgary Hog prices CALGARY Receipts to 11 a.m. today from the Calgary Public Stockyards totalled about 190 mostly cows and replacements. Trade was active. Cows were mostly m the lower grades with all grades selling at steady prices Cows Dl and 2 D3 30.50- D4 25-30 Replacement cattle were mostly feeder steers and stock steer calves Trade was active with sales at strong prices. Good feeder steers more than 750 pounds 43-47 50. A few good feeder heilers more than 750 pounds 41 60 Good stock steer calves 400 pounds and up 53-63 75. Hogs f o.b Calgary to 11 am. average base price 52 10. Metals LONDON Closing metals bid-ask in pounds sterling a metric silver in pence a troy ounce' Copper-Spot 886-888. futures 846-847 Tin-spot futures Lead-spot futures 252-254 futures 565-570 141 1-141 3 months 144.5-144.7 Winnipeg grain WINNIPEG Prices moved in a narrow range in dull trade Thursday on the Winnipeg Commodity Exchange. The only feature of trading was in rye where prices declined several cents. Flax edged rapeseed was mixed and there was virtually no trade in the feed grains. Flax closed four cents higher to un- rapeseed lower to 1 oats barley un- and rye to 35A lower. Volume of trade the last day the exchange was was oats barley rye flax and rapeseed Thunder Bay export wheat prices unchanged. Grain quotes Thursday basis Lakehead. High Low Close Flax Dec 1083 1079'A 1083 May 994 989 994 Jly 963 Oct Rapesetd Vancouver Jan 627 Mar 625 610 620 Jun 602'A 611 Sep 603 Rapeseed Thunder Bay Dec May Jly Oct Oats Dec May Jly Barley Dec May Jly Rye Dec May 580 592 586 575 163 156 311 230 305 314'A EDMONTON Closing average prices provided by the Alberta Hog Producers marketing ward with Thursday average in brackets Edmonton 51.79 Red Deer 50 86 Calgary 51 50 Lethbndge 51 98 Lloydmmster 5120 Fort Macleod 5275 Grande Prairie- 51 10 Fairview nil Total hog sales average 51 68 Total sows nil Dollar valuQ MONTREAL -US. dollar in terms of Canadian funds at 3.30 p.m. Thursday was down 1-10 at 7-10. Pound Sterling was up 17-100 at 81-100 In New the Canadian dollar was up 1-10 at 00 3-10 Pound sterling was up 2-5 at 31 1-2 Gold futures WINNIPEG Gold U S Winnipeg Commodity Ex- change close Thursday. Jan 74 Apr 74 116.75. Jly 74 120 40. Oct 74 123 Jan 75 125 90A. Monday's volume 28 contracts. Beef futures WINNIPEG Live beef futures close Thursday. Jan 47 Jly 51 50. Monday's volume. No contracts Ford calls Capris back DETROIT Ford Motor Co. has recalled new Mercury Capris to check for improperly made wire harnessing that might wear and cause an electrical short. Ford announced the recall today. It said it expects to find the defect m about of the 1974 model cars. The faulty wiring may cause loss of engine and electrical system power in addition to possible loss of braking the company said. Ford said it discovered the problem in two vehicles at a pre-delivery centre. An additional 514 Capris in Canada are affected by the re- call. COMMON METAL Aluminium is the com- monest of all metals con- stituting 8.13 per cent by The Herald- December 1973 THE LETHBRIDQE HERALD 17 Business Stocks Miscellaneous by MeQuaig 11 A.M. 26.00 WESTERN 5.00 AND 4.20 Afton Ltd 7.50 Albany OH Cdn Seed 4.50 Westfield Min 1.05 A Pfd Ashland Oil Alta East Yukon 9.00 PIPE LINE STOCKS BP Gas A 10.00 Brenda Gas Pfd 69.5Q Can Nat Gas 19.50 Cdn Ex Nat Gas 9.50 Cdn Metro 5.50 Cdn Ind Gas Metro A Pfd 64.00 Cdn Long and C Gas 10.75 and C B Pfd 21.00 Cdn Trans 9.50 Dome Cans Pipe 31.25 Can A Pfd 57.00 Fort Can B Pfd 38.25 Giant Can War 4.60 Gibraltar Trans 22.00 Gran Trans Wts 3.65 Gt Gt Cdn Oil Lochiel .53 Lytton Oils .04 Noble Continental .01 Vi North Cdn Warner .30 Pancdn Pan Explor .34 Norse .94 1.90 Place .27 Varden .20 Ranger Res .11 Scurry 8.60 .08 .11 Total Stand 1.44 Ulster Copper 8.50 United West Brewing 2.80 West Industries 1.65 Acres Pete .85 Pete BC Sugar A Explor .65 Block Intl Res -73 Cdn Pac Inv A FUNDS Com Cap Cdn Compound 6.61 7.19 Carling O'Keefe A Cdn Dividend 6.96 7.57 Carling O'Keefe B Cdn Ventures 3.30 3 59 Crestbrook Grow F 5.13 564 Crowsnest Special 2 56 Falcon Invest F 4.95 5.43 F and M Mutual 5.27 5.78 Inter 13.38 14.70 Global Comm Leverage 3 27 3 59 Home Venture 5.72 6.29 Home Invest 6.15 6.76 Hud Bay Invest S F 4.81 5.29 Hud Bay Fund US 10.90 11 95 Hud Bay A Income 2.96 3 26 Hugh Equity 6.70 7.36 Husky Grow F 11.41 12.47 Husky Oil B Mutual 5.51 6.02 Husky D Accum 5.84 6.43 Husky E Grow F 3 02 3 32 Hys of Resources 469 5.15 Inter Prov Cdn 5.28 5.80 Inter Prov Growth 4.56 5.01 Kaiser Growth 4.33 4.75 Loblaw C Mutual 705 771 6 63 6 90 Pacific Growth 7.28 7.98 Pacific West Accum 466 5.12 Pe-Ben Oilfield Savings 7.71 8.49 Rainier 5.71 626 Toronto industrials by Richardson Securities of MINES Acme Advocate Asb Akaltcho Bralorne Broulan Bethlehem Bovls Brunswick Can NW Land Canada Tung Casslar Central Pat Chimo Conwest Cons Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldoni Dome Mines Discovery Mines East Malartic East Sullivan Falconbndge Frobex First Mantimes Giant Y. K Granduc Hollinger Hud Bay M S Hydra Ex Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R. L. Malartic G. F. Martin McNeely Maclntyre Mela Midnm Intern Mogul Nu West Homes New Athona New Calumet Noranda Northgate Norlex Pme Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Sherritt Gordon Steep Rock Tek Corp Texmont United Canso Western Mines WH Copper Mines Wright Hargreaves Willroy Yellowknife Bear Zenmac INDUSTRIALS Abltibi Alcan Aignma Steel Atco Ind Jannock Agra Ind Bell Tel Brazilian Trac Tel Forest Sugar Valley Ind Ind 1 Cellulose Power Credit Gas Industries Marconi Vickers Bathurst Gas Seagrams 141 Bridge Textile Stores Pete Mobile Cdn Oil Sands Motors Lakes Paper Oil Cda Sid Walker Erie Oil Nickel Pipe Grp A Utilities Accept Doug A .11 A Ferg Bloedell Corp A B Cent Corp Co CDA Sears Canada A Grp A Mtn Pipe Can Pipe Carbide Gas Oil Siscoe Mfg B A Cdn Seed Elec Imperial Scotia 39.87 49.00 14.75 20.25 28.00 14.25 8.75 3.65 5.25 6.25 22.75 2.25 10.25 1950 3.10 12.75 1575 33.25 28.25 16.00 42.50 36.00 2225 8.75 12.00 35.00 2900 5.75 9.80 48.00 25.00 4.90 31.00 39.75 2850 33.50 20.25 7.75 1750 4.35 5.00 8.75 3.50 5.00 11.00 19.00 32.00 52.00 22.50 22.25 12.75 10.50 10.50 12.75 18.00 8.00 29.00 12.75 43.00 15.25 14.75 31.00 16.75 9.87 13.50 6.15 6.25 18.25 18.00 17.75 4.50 2.60 2725 1925 36.00 36.25 37.25 New York by Richardson Securities of Amr. T T Woolworth 18.00 Anaconda Westlnghouse Elec Beth. Steel U.S. Steel 37.50 Chrysler Gen Tel Elec 2575 Comsat 40.00 TORONTO AVERAGES Dupont 156.00 20 Industrials 212.57 up .85 General Motors 48.00 20 Golds 392.52 up 6.38 Gulf 22.37W 10 Base Metals 92.64 up .09 Int. Harvester 26.37V4 15 Western Oils 244.51 up 3.26 Kenn. Copper 44.00 Volume 1.119.000 Montgomery Ward 19.50 NEW YORK AVERAGES Sears 8225 20 Industrials 845.86 down 5.14 Exxon 93.50 20 Rails 192.81 down .30 Texas Gull 31.1214 15 Utilities 89.46 down .45 Texas Co 28.75 65 Stocks 270.36 down 1.27 fnrnnrallnn 1212V. Volume 10.060.000 American Yule sales reach record high NEW YORK Despite high harsh winter weather and jitters over the energy United States consumers spent hundreds of millions of dollars on holiday gifts this year. Many retailers report Christmas sales reached record highs. An Associated Press check of major stores in several cities across the U.S. in- dicates the oil as ex- pected spurred buying interest in items designed to keep people warm. sales were pheno- menal and we sold out on elec- tric heaters very said a spokesman for Bloomingdales. The firm operates 11 stores in the New York area. Other retailers reported flannel shirts and heavy woolen robes and blan- kets were among top items on Santa's gift list. Although talk of a possible 1974 recession caused by the oil crunch has been department stores said they found little evidence that con- sumers scaled down their holi- day purchasing. One exception was a Dallas which noted a decrease in the purchase of luxury items such as furs. CLOSED BY STORM While sales in the East Coast were better than last a severe winter storm which forced many closings for a day or two early last week kept the increase below hoped-for projections. Richard president of Gimble which operates 37 department stores in the New York-Philadelphia- Pittsburgh said sales have reached record levels except for the terrible The picture was Plan change Bus dominates the scene at the city centre in England. The city of has aban- doned its roadbuilding and improvements which would have cost more than and imposed large-scale restrictions on private motorists while im- proving its public tran- sport system. brighter for the 30 Saks stores Gimbles operate from coast to coast which posted strong At S. S. operator of K-Mart discount stores and one of the largest U.S. a spokesman reported sales for the month leading up to Christmas were 17 to 19 per cent ahead of last year's millioji nationwide. But he noted the figure fell short of the average gains of about 21 per cent that the chain has been recording throughout the last year. In Detroit J. L. Hudson's Co. said it sold million of goods last the LONDON -The price biggest day in the store's of gold rose again on Europe s history. It said that sales for mam bullion markets today the season were eight to 10 per and the United States dollar cent ahead of last year's. A firmed against major curren- European gold price climbing survey by Chamber of the Detroit Commerce in- cies. Bullion dealers Paris newspaper figures extra industrial oil cost PARIS The news- paper Le Monde estimates the additional cost of petroleum to the world's most in- dustrialized countries at billion as a result of two successive price increases by producing countries. Le Monde based its figures on an estimate by the Organization for Economic Co-operation and Develop- ment that the price increase of Oct. 16 would cost OECD members billion. From this the newspaper calculated the cost of the Dec. 22 increase at billion for OECD members. The OECD says it has made no new estimates following the latest increase decided in Tehran last weekend. Le Monde gave this break- down for the extra amount each country would be forced to pay for its petroleum millions of United States Japan West Germany France Italy Brit- ain Belgium- Luxembourg Holland Denmark Sweden Spain Canada Switzerland Finland Australia Austria Norway 330. Iranian Prime Minister Amir Abbas Hoveida said in a Le Monde interview here Thursday that the oil- producing countries were do- ing the West a favor when they increased their prices this week. are giving you a favor- able he said when ask- ed if the huge increase would not badly disrupt the balance of payments of industrialized countries. He referred to a recent held by the national Iranian Oil Co. during which prices for its crude were es- tablished at much higher levels than those decided by the oil producers. The auction was held ly to determine the present value of our Hoveida said. a Moslem but non- Arab has not joined the'Arab states in oil produc- tion cuts and embargoes meant to bring pressure on Israel. Far from joining oil the premier are going to accelerate our development and in- dustrialization have acted with moderation and we do not reported dicated holiday sales rose 10 sellers in gold holding to 11 per cent to record back in the face of peiaister... forcing prices up to their highest levels in more than four months. Dealers said they did not know where the demand for the metal was coming from. The dollar was helped by be- lief that the increase in Arab oil prices is likely to harm Eu- ropean currencies more than that of the United States. The dollar reached a seven-month high against the Swiss franc but its performance was less spectacular in Frankfurt where a smaller than ex- pected U.S. foreign trade sur- plus dampened deals. In Paris the dollar was strong against the French franc which has been dogged by fears of devaluation. In the dollar eased against a pound bolstered by hopes that the British govern- ment may soon solve its energy crisis by finding a peace formula for coal miners on a go-slow campaign. Gold was fixed in the morn- ing in London at an ounce up from Thursday's close of It was the highest morning fixing since Aug. 8 when monetary fears sent gold up to ounce. wish to ruin Western to which we Hoveida said. He said he sees little danger of outside intervention to secure the Middle East oil trove. any superpower inter- vened in the it would provoke a similar intervention by its Hoveida said. why I think neither one will take such a He was referring to specula- tive but recurring reports in the Mideast that the United States might try to end the Arab oil embargo by sending troops to the oilfields. HAS GOOD QUALITIES Black found in southern is one of the most desirable woods for the manufacture of furniture. an Come-by-Chance oil has started to flow NOTICE ALBERTA BREWERS' AGENTS LIMITED Effective Tuesday January 1974 Our NEW city and Country beer order telephone number 327-6856 Nfld. The Newfoundland Refining Co. Ltd. refinery here has started producing heating oil and the first ship- ment for Eastern Canadian markets will be ready in eight or 10 Production Manager Michael Carmichael said today. Mr. Carmichael said production started shortly after 10 p.m. NST Thursday at the refinery at this industrial site 100 miles west of St. John's. He said the tanker Frank D. Moores was in port waiting to load the first cargo of refined oil. He said loading would begin when production tanks ashore were filled. Mr. Carmichael said he did not know where in Eastern Canada the tanker would take the first cargo. He said he was unable to predict when the barrel-a-day refinery would reach full production. It was expected to operate at barrels a day initially but he declined to predict when this target would be reached. An official announcement was expected later today from Shaheen Natural Resources Inc. of New parent com- pany of Newfoundland Refin- ing which also has its head of- fice in the American city. Profit Name Brand Product EXCLUSIVE Distribution this area No Customers come to you Approximately 10 hours weekly Administration and Service only. or Couplo Age no barrier. M700 total InvMtment. Fully eecured by equipment Reply Including Phono No. to Box Lothbrldgo Horald ;