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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 6, 1974, Lethbridge, Alberta Prices mixed in moderate trade TSE industrial index up Record car sales reported TORONTO (CP) Prices on the Toronto stock market were mixed in moderate mid- morning trading today. The industrial index, consid- ered the main indicator of market trend, was up .04 211.87. Golds fell 4.80 tc TO.f base metals .12 to lOe.ti and western oils .81 to 261.79. Volume by lla.m. was 1.42 million shares, down from 2.88 million at the same time Tues- day. Advances edged declines 151 to 148 with 205 issues un- changed. Bank, pipeline, merchan- dising and communication stocks were among industrial sub-groups to advance while oil refining, paper and forest, food processing and steel issues declined. BP Canada rose to Aquitaine to Thomson Newspapers to MEPC Canadian Properties to and Moore V4 to Falconbridge Nickel fell IVt to Microsystems to Texasgulf to Dome Pete to and Chrysler to Mentor Explorations lost 35 cents to Agnico-Eagle to and Dickenson to Denison Mines gained to and Roman 1 to Ranger Oil was off to United Canso to and Skye Resources to Francana was up to MONTREAL (CP) Prices were mixed in light trading on the Montreal, Stock Exchange today. Volume at 11.00 a.m. was 478.900 shares, compared with 563.800 shares at the same time Tuesday Banks rose .69 to 270.87. utilities .67 to 141.10 and papers .01 to 128.38 while industrials fell .48 to 236.84 and the composite .12 to 221 55 Trans-Canada Pipe Lines fell 1 to Stelco to and Shell Canada ''i to while Dofasco rose "4 to and Rio Algom Mines to Among speculative issues. Gold Hawk Mines rose a penny to 58 cents trading 55.000 shares. VANCOUVER (CP) Prices closed up in heavy trading on (he Vancouver stock exchange Tuesday. Volume at the close was 3.979.321 shares. In the industrials. Captain International was at .68 after trading shares. Mercuria was unchanged at ,41 after trading 11.000 shares. Weldwood was unchanged at after trading 5.900 shares. Newmark Resources fell .02 to on a turnover of 5.900 shares. lonarc was unchanged at SI and Four Seasons was unchanged at .65. Dolly V'ardon was active among mining issues, up .04 at 50 on a volume 373.880 shares. Consolidated Fortune Channel was up at .35 after trading 190.400 shares. Nortfiair rose 10 to 20 after trading 153.850 shares. Geo-Dyne was unchanged at .32 on 143.700 shares. Sonic Ray was up .03 at 40 and Brendon was down .03 at .64 In the oils. Vargas was up 08 at .27 after trading 132.000 shares. Vargas Warrants rose .06 to .11 after trading 107.100 shares. Freehold rose .19 lo on a turnover of 64.913 shares. Seneca Developments was unchanged at on 27.766 shares. Concept Resources was up 25 to and Chapparal was up .01 at .11. Hog prices EDMONTON (CP) Average prices to 11 a.m Wednesday provided by the Alberta Hog Producers Marketing Board with Tuesday average in brackets: Edmonton: 46.95 Red Deer: 46.95 Calgary: 46.80 (46.751. Lethbridge No sales Llovdminster- No sales Fort Macleod No sales Grande Prairie: No sales (45 Fairview: No sales Total hogs sold to II a.m. 191. total sold Tuesday. 9.442. average 46.63. Sows average 35 40. MONTREAL (CP) Wednesday's mid-day foreign exchange nominal sclling'ratcs supplied by the Bank of Mwrt real- Australia dollar 1 485 Bermuda dollar 1.02 China rcnmmbi .4900 Denmark kroner 1360 France franc financial 20 Germany mark 3650 Italy lira commercial 001555 Japan yen .00300 Mexico peso QK5 Spam peseta .0135 Switzerland franc .3100 United States dollar S8S6 Kingdom pound 224 USSR rsble 13BS6 Qonlalxms m Canadian lands NEW YORK (AP) The stock market pulled back from solid earlier gains but remained slightly higher at mid-session today. The Dow Jones average of 30 industrials, up nearly six points earlier, was ahead 0.86 to 821.50 at noon. Advances led declines on the New York Stock Exchange by three to one. On the American Stock Exchange, the market-value index was off .09 at 95.02, while the NYSE index was down .02 at 49.73. NYSE prices included U.S. Steel, up to American Motors, up to Chrysler, down Vz to Motorola, down to Eastman Kodak, up Vt to and Pan American, up Vs to On the Amex, gold stocks were off, with Giant Yellowknife down Vt to and Day Mines down to Among Canadians on the NYSE, Mclntyre was off 1 to and Seagrams lost Vi at Dome Mines gained to Hiram Walker to Genstar to and Alcan V, to Canadian Pacific was unchanged at Hudson Bay at International Nickel at and Massey-Ferguson at On the American exchange, Brascan gained v, to and Scurry Rainbow lost to Vi. Quebecor was unchanged at Chicago markets CHICAGO (AP) Silver futures pushed ahead to the fourth straight limit gain under a strong demand on major exchanges Tuesday. On the New York Exchange, silver rose to the new 15 cent an ounce limit for one session. The limit previously was 10 cents an ounce. Copper also was up the limit and world sugar futures advanced. Winnipeg grain WINNIPEG (CP) Trading was reasonably brisk but heavy selling pressure continued to push prices downwards through mid-session or. the Winnipeg Commodity Exchange today. Buyers were showing a little interest shortly after the open but that interest almost disappeared as the selling pressure from commercial and commission house dealers continued to mount. There was also a large amount of hedging. Flax ranged up to 28 cents lower while rapeseed lost as much as 20 cents it's maximum trading limit and rye was down seven to nine cents. The volume of trade Tuesday was 1.034.000 bushels of rye. of flax and of rapeseed. Mid.session prices: Flax May 28 lower 1117; July 26 lower 10.62B: Oct 24 lower 1029A; Nov. 2 lower 10 32A. Rapeseed Vancouver. March 20 lower 7.32A: June 16 lower 6.S6A; Sept. 15 lower 6 40: Nov 10 lower 6.20A. Rapeseed Thunder Bay: May 17V4 lower 6.86VjA: July unchanged 6.64A: Oct. 10 lower 6.22A. Nov. unchanged 6.26A. Rye- May 9 lower 3.19A: July 9Vi lower 2.95A: Oct. 7 lower 2.87A; Dec. 8 lower 2 86A Grain quotes Tuesday basis Lakehead. High Low Close Flax May 1150 1140 1145 Jlv 1090 1082 1088 Oct 1060 1047 1053 Nov 1034 Rapeseed Vancouver Mar 761 751 752 Jun 712 698 702 Sep 657'i 655 -655 Nov 630 Rapeseed Thunder Bay May 709 700 703% Jly 664 Oct 632 Nov 626 Rye May 333 321 328 Jly 311 401 304% Ocl 294 Dec 294 Dividends PRKSS Dividends are quarterly unless otherwise noted. Brascan .Lid., .class A. 25 cents, U S. funds. April 30. record March 31. British .Columbia .Telephone Co., 80 cents. 4'z-per-cent pfd.. 4.84- per-cent pfd.. 30' i cents: pfd 7.04-per-cent cum pfd.. 44 rents: all payable April 1. record March 11: pfd.. May I. record April 10: i-per-cenl pfd.. 19, i-percent series 1956. 19: 5 15-pcrccnt pfd.. all payable April 15. record March 25. Consumer's Gas Co., 22 cents: 3'? per-cenl pfd series A. and series B. all payable April 1. record March 8 Domlar Ltd.. 25 cents. May 1. record April I: pfd 25 cents. April 1. record March 1. Kour Seasons Hotels Ltd., 6per-cenl pfd first series A. 15 cents, March l. record Feb. 15. lieneral Motors Corp. Ltd., 85 cents. U.S. funds. March 9. record Feb. 14. Hnky Oil Cauda Ltd.. 6-percent pfd scries A. 75 cents. April 1. record March 4: 6-percent pfd.. series B. 75 rents. March 31. record March 4, M.E.P.C. taudian Properties 6-pcr-crnt pfd series A. 37'z cents. Kch 28. record Feb. 15. Panhandle Eastern Pipe Uae 30 rents, us. funds. March K. record Ken 15 Holland Paper Co. Ltd.. class A. 12 rmls. March 15. record Feb. 22. Skelly Oil Co. Ltd.. 25 cents. March 12. record Feb 15 Sonor Inx-rvtmeats Ud., 8-percenl first pfd 20 cents, semiannual divxirnt, March 15. record Feb. 28 Ud.. pld first sencs. fl.lZ'z. fpcr-ccnt pfd. series. both payable Matrii I, rccnrd Fcb IS D.A. Slwrt On Co. LWL, 10 cents, increase of cents. March 1. record Fei. 13. Registered Retirement Savings Plan 'B' Now at NIGH INTEREST SAVMGS WV WwWffWwwW VOTWI PLAN "A" SELF ADMINISTERED NOMINAL PEES Vi V 3Pf TBi St. LeMffMft Phoiw 328-5548 Live cattle rose to their limit of a hundredweight, and live hog futures gained nearly but pork bellies advanced up to 90 points and shell eggs, gained up to ZOO points on the Chicago Mercantile Exchange. On the Board of Trade, 'wheat futures came off a weak opening and closed 8% cents higher, but corn, oats, soybeans, soy oil and meal were mostly lower. Wheat futures fell as much as six cents on continued weakness associated with reports the government would, seek wheat from other countries to bolster diminishing United States stocks before the new crop is available in late June. Late in the session, new commission house buying developed and local shorts were forced to cover, bringing prices to new levels Corn and oats tended''to improve slightly as wheat rallied. Soybeans, soy oil and meal were weak on selling linked to a Russian report that its sunflower seed production was higher than expected and oil stocks here rose Jan. 1. Grain close: Wheat: Mar 5.60: May 5.36: Jut 4.85; Sep 4.82: Dec 4.84. Corn: Mar May Jul 3 Sep 2.97: Dec 2.71. Oats Mar May 1.69: Jul 1.64'fe. Sep 1.66: Dec 1.64'A. LONDON (AP) Closing metals bid-ask in pounds sterling a metric ton: silver in pence a troy ounce-- Copper-Spot 940-942: futures 934-935 Tin-Spot futures 3.145 Lead-Spot 273-273.5: futures 279- 279.5 Zinc-Spot 710-720: futures 583-585 195.8-196.1: 3 months 203.4-203.5 futures WINNIPEG (CP) Live beef futures close Tuesday. Mar54.20A: May 55.50A; Jly 55.10N: Sep 54.10A. Monday's volume: No contracts. Mils OTTAWA (CP) New 91-day treasury bills issued Thursday: million at an average price of 98.474 and an average yield of 6.22 per cent. Last week: million at S8.463 and 6.26 per cent 182-day: ISO million at an average price of 96.912 and an average yield of 6.39. Last week: million at 96.892 and 6.43 per cent. QoM futures WINNIPEG (CP. Gold futures. U.S. funds. Winnipeg Commodity Exchange close Tuesday. Apr 74 145 (JOB: July 74 1SO.OOB: Oct 74 156 408: Jan 75 161.30B. Monday's volume: 251 contracts. MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today fell 4-25 to 3-25. Pound sterling was down 1 1-2S at In New York, the Canadian dollar was up 17-100 at SI.01 23S. Pound sterling was down 710 at SU3 7-10. LONDON i API Tuesday's closing gold prices in U.S. dollars an ounce: London 140.00 Paris 147.05 Frankfurt 139.3J Zurich 14050 Hong Kong Unavailable Beirut 4.403 a kilo. Livestock CALGARY (CP) Receipts to 11 a.m. Wednesday from the Calgary public stockyards totalled about 900 head, mostly steers. Trade was doll with buyers very selective in their purchases. Slaughter steers were a foil tower with over finished kinds difficult to sell. Heifers sold steady. Cows sold steady with the bulk of the cows on offer in the lower grades. Steers Al and 2 49.25-51.50, A3 47.5049, A4 Heifers Al and 2 44.5045.30, A3 42-44, A4 38-41. Cows Dl and 2 32.50- 34, D3 31-32.50, D4 2541. Feeder cattle were scarce selling at steady prices. There were insufficient stock calves on offer to establish a market. Good feeder steers more than 750 pounds 45-50. Good feeder heifers more than 000 pounds 4044. Good stock cows 3046. Hogs f.o.b. Calgary to 11 am. average base price 46.90. The Herald WtdnMday, ftbrwry 0, 1974 THE LITHMIOQE HERALD Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN AND Alton Albany Cdn A Ashland Oil 87% Alta East LINE BP Gas Brenda Gas Can Nat Cdn Ex Nat Cdn Cdn Ind Gas Metro A Cdn Long and C and C B Cdn Super Dome Can Can A Fort Can B Giant Can Gibraltar Trans Gt Gt Cdn Oil Lochiel Lytton Noble North Cdn Pancdn Pan Place .19 Ranger Scurry Total Ulster United West West Acres BC Sugar A Intl Block Cdn Pac Inv A Cdn 6.91 Com Cap Corp Carling O'Keefe A Pfd Carting O'Keefe B 24.00 Cdn Dividend All Cdn Ventures Amer Grow 7.31 3.51 3.82 4.58 5.03 Crestbrook Crowsnest Invest 5.32 Falcon Copper F and M Trust Mutual Common 5.64 13.46 13.46 3.20 Global Com 5.58 Home 6.82 Home Invest S 5.28 Hud Bay Fund 11.34 Hud Bay 5.02 Hud Bay A 3.33 Hugh Russell C 8.03 Husky Grow 12.94 Husky Oil B 6.15 Husky D 6 49 Husky E War Hys of Grow F Nat 345 4.84 5.32 Inter Prov 5.70 Inter Prov 4.77 Kaiser 4.86 Loblaw C 8.01 Magnasonics Pacific Temple 6.91 7.39 8.10 Pac West 4.92 Pe-Ben Oilfield 8.65 Rainier 6.33 Royal 6.'26 Ballroom beef Prices rose to for top beef auctioned off at the weekend in the ballroom of one of Vancouver's plushest downtown hotels. The occassion was the full French Charolais sale, highlight of the Canadian Charolais Association's annual convention. The cattle were shuttled from the hotel garage, into a freight elevator and up to the second-floor ballroom. Multi-million dollar gas plant sought for Empress CALGARY (CP) Consolidated Natural Gas Ltd. outlined plans for a multi- million dollar gas processing plant it proposes for Empress, Alta. Tuesday before the Alberta Energy Resources Conservation Board. The company applied to the board Sept. 28, 1973 for permission to construct a plant, expected to cost to million, at Empress, 175 miles east of Calgary on the Alberta Saskatchewan border. The plant would be used for the processing of gas, owned by Consolidated, to extract pentane and butane by- products. Consolidated proposes to build the plant, with an average daily natural gas intake of 350 million cubic feet, in two stages. Construction would involve the dismantling of a gas processing plant which is no longer in use at Detroit, Mich. The Detroit plant was built in 1962 by the Fluor Corp. and was damaged by fire in 1972 and has been closed since. New equipment would be purchased for the proposed plant to supplement the equipment brought from the Detroit plant. First stage of the plant, Toronto mines, industrials Bank (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger Hudson Bay M8.S Hydra Ex. Iron Bay ISO Joliei Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F Martin McNeely Maclntyre Meta Midrim Intern Mogul Nu West Homes New Athona Notanda Nortex Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock Radtore Algom Roman Corp. Sherrtn Gordon Steep Rock Simntagdate Tek Corp. A TexiTJoi il Urrited Carjso Western Mmes WH Copper Mmes Wngtrt Hargreaves Wilfroy Windfall YellowVnWe Sear 2enmac Atean Algoma Sleol A1co Ind A Jannocfc Agra )nd Bell Tel Brascan A .11 Forest Sugar A Valley Ind O'Keefe Cellulose Power Credit Gas Pfd Industries Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Cdn Oil Motors Oil Cda Sid Walker Erie Oil Nickel Pipe Grp A Intl Accept Doug A A Ferg Bloedell Corp A New Cent Corp Co Sears Canada A Grp A Mtn Pipe Can Pipe Carbide Gss Oil Slscoe Mlg A Cdn Seed 31 Bee Scona 51.00 14.37V4 19.00 20.00 28.25 15.00 8.62 Vi 3.90 9.50 6.12% 23.25 2.25 10.00 16.87% 3.50 16.75 15.50 15.50 15.50 33.75 26.50 17.25 42.12% 38.50 23.25 9.75 12.75 39.37VS 31.00 7.00 10.00 49.50 31.75 17.00 5.25 51.00 27.50 39-75 29.00 35.25 21.50 8.12% 17.75 buoyant economy 4.60 5.12% 9.75 3.60 525 11.62% 16.00 30.25 4957% 2150 2050 7.25 12.25 10.37% 14-25 9.62% 15.00 19.12% 7.75 1150 31.00 1350 49.50 14.87% 14.87% 33.75 1662% 9.25 MONTREAL (CP) While predicting there will be no re- cession for the Canadian econ- omy in 1974, The Bank of Mon- treal Business Review for February forecasts a less buoyant economy with increased unemployment. The review, released here Tuesday, says Canada can ex- pect an increase of about four per cent in the Gross National Product in 1974, down 2% per cent from the previous year. This slower rate of growth, Sugar price hiked again TORONTO (CP) The price of sugar has risen again this month to almost double its price in October, industry spokesmen say. Five pounds currently costs at Dominion Stores Ltd. here. In November, it went to from 77 cents. A Dominion spokesman says a breakdown in the Inter- national Sugar Agreement of 1968 is the main cause, but other factors have been a Soviet crop failure and a Japanese ban on saccharin last year. The International Sugar Or- ganization set up a world agreement on price in 1968. says the review, "will mean, an increase the unemployment rate in 1974 to more than six per cent." The review also predicts continued inflation "at about the same unsatisfactory level as in adding that the pressure on prices is bound to be felt by the consumer. NO END TO INFLATION It forecasts continued in- flation in 1974 due to "huge in- creases" in petroleum prices' and large wage settlements by labor. But the review also says there will be some "moderating influence" on inflation through a "levelling out" of food prices and reduction of some commodity prices.! While Canada's trade deficit is likely to stay at about the same level as the last two years, the review also cites a "continuing boom" in capital investments in Canada as a major factor in the expected upward movement of the Canadian dollar. Over-all consumer spending, says the report, "is expected to hold up reasonably well this year" with a gain of about 11 per cent. This rate is lower than in 1973 because of a decreased demand for durable goods. The review says housing starts are expected to be in the to range, compared with a record in 1973. scheduled to be on stream at the end of 1974, will recover 17-to-18 per cent of the liquid hydrocarbons in the gas, the Board was told. Completion of the second stage of the plant would result in 89-to-90 per cent recovery of pentanes and butanes. Recovery of gallons a day of liquid hydrocarbons was expected on completion of the plant. Barring further delays, company officials said they hoped to have the second phase on stream by the end of 1975. N. J. Lashuk, president of consolidated, said his firm had approached Dome Petroleum and Pacific Petroleum, who have similar plants in the Empress area, to process consolidated's gas. But the two companies would not give compensation for the liquid hydrocarbons produced from Consolidated's gas. Dome petroleum and Pacific petroleum were among the intervenors in the application. Also intervening were Amoco Canada Ltd., Pan Alberta Gas, Pan Canadian Gas Processors and TransCanada pipelines.. The hearing is expected to end today Tax details available for U.S. citizens A United States Internal Revenue Service taxpayer assistor, Mrs. B. Johnson, will be available at the United States Consulate General, 615 Macleod Trail S.E., Calgary, February 13-15, March 1, March 4-8, and March 11 and 12 to assist persons in filing United States income tax returns. The office hours are a.m. to p.m. and to p.m. The telephone number is 266-6962. CP Rail Appointment 7.75 6.75 19.75 aso 350 265 2850 1962% 37 62% 3600 3562% New York Air Canada Expansion 70 71 72 73 (Supplied by RktariMNi Securities of Canada) Arm TST 50.12% WooTwcrth 1750 Anaconda 25.12% Wesimghmtse Bee 2300 Beth SleeS 3175 US Steel 3900 Chtysfcrr 1575 Gen Etec 2487% Comsat 34 37% TORONTO AVERAGES Oupemt 158 00 ?n industrials. 21 1 SO down 03 General Motors 5037% ?o Golds SS727