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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 6, 1975, Lethbridge, Alberta Thunday, February THE LETHBRIDGE HERALD 21 Auto sales slump increase layoffs DETROIT (AP) In the tion workers, 40 per cent of last year, an estimated the force are on layoff, most salaried employees, ranrmg for indefinite periods, from plant foremen to middle- If the sales decline con-level executives, have been tinues into the second half of laid oft by United States auto 1975, as some analysts companies because of the predict, layoffs of salaried slumping car market. employees will almost cer-Most have been cut within tainly mount, the past two months. Exten- The sharpest cutbacks have sive cost-cutting moves come at Chrysler Corp., eliminated another where half of the firm's jobs. salaried employees have been The four U.S. car com- on temporary or indefinite panies employed about layoff since last November, salaried workers in late 1973. General Motors, which had Faced with the worst sales a salaried force totaling 144 -slumu sincethe Second World a year ago, has trimmed War.'the industry closed some ,bLn 'H plans temporarily. This week including 3 400 held by alone, some produc- workers pjaced on layoff. GM furloughed in the past month. Ford Motor Co: has laid t t trade active at mid-session Broad stock market gain recorded TORONTO (CP) The To- clines by more than two to Market trends onto stock market recorded a one, 186 to 69, -with 145 issues wiarnei irenua road gain in active mid- unchanged. MONTREAL (CP) Prices ad vane- added to industrials 2.3? 10 The Hoftiul Business 1 i Miscellaneous i t Vancouver, Calpary, Montreal Midland poherty Limited WESTERN OILS Pacilic Pets 18 ,37'A j .AND MINES Pe-Ber, Oilfield Serv 4.00 Alton Mines 3.95 Royal Trust 24-50 t Albany .3B Sandwell 6.50 2 Alia East Gas 5.75 Teledyne 4-bO Rlminex 5.75 Tradere Qrp PW Asamera 9.00 Achland Oil 6 Westlie d Mm l.to v Canada UOO Weston A Pfd 50.50 -Brenua Mines 3.35 white Yukon 6.62V4 Cda South 2.25 PIPELINE STOCKS Cdn Ex Gas 2.40 Alta Gas Trk A 12.00 Cdn Homestead 3.30 Alia Gas Trk Ptd 56.0Q Cdn Ind Gas Oil 7.00 Alte Najaa 15.50 Hvnastv 8 62'A N C GaS B Pld KrtRes 13 Trans-Cda Pipe 10.87V4 G an Mascot >1 Trara-Cda A Pfd 6100 t Gibraltar Mines 4.85 -rMS-COBB Pld 33.00 Granisle 12.50 TransCda War .97 Gt Cdn Oil S 7.75 WC Trans 23.25 LochielEx 1.15 WC Trans War 2.79 Lytton Min 1.15 1 North Cdn Oil 4.35 CALGARY NumaeOil 11.37VS Acroll .31 Pancdn Pete Barons Oil .05 Pan Ocean N. Continental .02 Petrol 1.36 Western Warner .15 Paoma -62 VANCOUVER Place Gas .27 MINES Ponder Bathurst Norsemines 1.33 Ranger 19.75 Cima Resources .66 Scurry Rain- 14.25 Dankoe 2.42 Seibens 8.25 Davenport .71 Spooner .26 Lornex 4.85 Total Pete 5.50 Northair Mines 2.35 Ulster Pete .61 Primer .15 United Canso 8.25 Pyramid Westcoast Pete 3.90 Silver Standard 1.28 West Decalta 4.15 Valley Copper 6.00 MISCELLANEOUS INDUSTRIALS INDUSTRIALS Key Industries .06 Acres Ltd Wardair 1-55 Aquitaine 18.25 OILS BC Sugar C-Pfd 11.50 August Petroleum -16V4 Block Bros 3.10 Plains Pete -10 Canbra Foods 3.40 Stampede Int'l Resources .65 Cdn Pac Inv A Pfd 29.50 MUTUAL FUNDS Cdn Pac Inv 14.75 All Cdn. Compound 5.07 Carling O'keefe A Pfd 20.00 All Cdn. Dividend 5.42 Carling O'Keete B Pfd 22.00 All Cdn. Ventures 2.16 Com Cap Corp 2.00 American Growth Fund 3.79 Crestbrook Ind 4.QO A.G.F. Special 2.04 Crowsnest Ind 22.00 Eaton Commonwealth 12.05 Falcon Copper 7.75 Eaton Leverage 2.77 Trust Co 4.90 Eaton Infl Venture 2.59 Genstar Corp. Investors 5.28 Home Oil A 23.50 Dreyfus Fund U.S. 8.92 Home Oil B 21.50 Grouped Income Shares 2.50 Hud Bay Co 15.75 Investors Growth Fund 10.40 Hud Bay Oil 25.00 Investors Mutual 4.95 Hud Bay Oil A Pfd 31.00 Mutual Accumulating 5.04 Hugh Russell 57.00 Nat. Resources 3.55 Husky Oil 16.50 N.W. Cdn. 4.44 Husky Oil B Pfd 32.37'.'! N.W. Grown 3.78 Husky Oil E War Principal Growth 3.50 Inierprov Pipe 2.25 Royfund 5.10 Interprov Steel Pipe 15.50 Templeton Growth 7.1U Kaiser Res 7.00 United Accumulative 3.83 Kaiser Res War 4.10 Universal Savings 7.00 Loblaw Co C Pfd 26.75 Vanguard 4.19 Magnasonics 1.75 Guardian North Am.FO 2.78 Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES BCTel 53.75 Acme .08 Burns 10.50 Advocate A3b. 1.21 BC Forest 14.50 Akaitcho 1.80 BC Sugar 21.25 Bralorne 1.26 Bow Valley Ind 13.00 Braulan .37 Cable 12.50 Bethlehem 9.00 CAE Ind 6.75 Bovis 1.21 Cal Power 25.00 Brunswick 3.90 Canbra Foods 3.40 Can. NW Land 3.50 Can Cellulose Canada Tung. 3.40 Carling O'Xeele 2.32 Cassiar 4.35 Chemcell 3.75 Central Pat. .83 CWN Gas Pfd 8.00 Chimo .88 Cdn ind 18.75 Conwest 2.61 Cdn Marconi 3.40 Cons. Rambler 1.65 Cdn Vickers 13.87'A Coin Lake .15 Chrysler .10.1214 Cochenour 1.10 CPR 16.12VS Craigmont 3.60 Commco 27.75 Dickenson Mines 7.37V, Cons Bathurst 26.00 Oenison Minos 44.12V4 Cons Gas 16.00 D'Eldona .29 Dist Seagrams 35.25 Dome Mines 46.00 Dom Bridge 21.25 Discovery Mines 2.10 Dbmlar 20.37VJ East Malartic 3.50 Dom Textile 6.75 East Sullivan 1.71 Dom Stores 17.37'A Falcontiridge 29.00 Dome Pete 24.37V4 Frobex -18 Dofasco 24.50 First Maritimes .37 Glen Mobile 1.55 Giant Y.K. 10.75 Grt Cdn Oil 7.75 Granduc 1.30 Gen Motors 37.25 Hollinger A 28.00 Grt Lakes Paper 16.12V4 Hudson Bay M8S A 15.87V4 Sull Oil 28.50 Hydra Ex. .56 Greyhound 14.50 Iron Bay 4.85 Hawker Sid 5.25 ISO 1 00 Hiram Walker A 39.75 Joliet Quebec .23 Huron Erie 25.75 Kerr Addison 10.75 Imperial OH A 26.87V4 Key Anacon Imasca A 28.25 Labrador 32 50 Int Nickel Lake Shore 3.45 Int Pipe Langis Silver Ivw.Gip A Madsen .56 IU Infl 1.6214 Malartic G.F. 1.05 IAC Ltd 19.25 Martin McNeely .28 Jannock 6.50 Maclntyre 41.00 Kaps 2.22 lyteta Kel Douglas A 5.25 Midrim .11 Laurentide 7.75 Intern Mogul 3.50 Loeb 3.25 NuWest Homes 7.25 Loblaw A 6.00 New Athona .18 Metropolitan 13.25 New calumet. .14 -Massey Forg 15.00 Noranda 32.25 McMill Bloed Norlhoate 3.80 Moore Corp 43.75 Norlex 16 Molsons A 17.00 Pine Point Molsons B 16.50 Placer Dev. 15.62V4 Nachurs 8.12.4 -pax Exp 1.25 North Cent 10.87VS Quebec Man .13 Peyto 3.85 Hayrock .95 Power Corp trading Thursday Moore Corp. rose Vi to ed In all sectors in moderate trading 185.38, utilities 1.76 to 138.34 and The industrial index, wide- Trizec to lU the Montreal stock Ex- p-gnaw 1-baseA indicator Of market International Analysts said the market's ga ns rend, was up 1.64 to 182.53. Canadian Imperial Bank Vi to could be attributco'in part to a general Shell Canada Vi to Toronto-rho inriov crainpri more than a and Dome Pete to J24Vz. decline in interest rates bul that the Dominion Vt to and Texaco Preston Mines was Up to bulk was because of bargain hunling as Canada to K12V, Oint Wednesday 111 response on investors snapped up issues at levels Among speculative issues, 0 declining interest rates and lanaua lungsien nu greatly reduced by We recent sellolf. Bcllcterre Quebec was up a cent to 74 renewed rally on the New cents to and Inter- volume at a.m. was 297.500 cen s on turnover of shares, market national Mogul A Vs to shares compared with 249.800 United Canso Oil and Gas Wednesday. VANCOUVER Prices were Western oils rose 2.13 to rainpd at to North Cana- Banks led Hie gainers with an ad- down in light trading on the Vancouver W 17 ami hasp mptals 20 to 5- ,c JIM vancc of 4.61 to 249.75, the composite Stock Exchange today. Early volume 30. iA lower 6.67A. Jly 265 264 264 generate a similiar sell-off in corn. NEW YORK (AP) Declining Flax: May higher 8.45B; July Oct 24514 There, prospects also loom for record interest rates carried the stock market our higher 8.10B; Oct. and Nove. not Barley acreage and production this year if the to a moderate gain in heavy trading ipen. Feed wheat: May 1'A lower May 279ft 275 275 weather is agreeable. With little sup- Thursday. .76B; July and Oct. not open. Corn: Jly 273 port, and oats prices held al The noon Dov; Jones average of SO day two lower 3.55A; Mar. and Juiy Oct 254 around the bottom on the close. industrials was up 3.21 at 721.06, and not open. Barley: May Ite lower Oats Soybean oil and meal were par- advances outnumbered declines by 7314A- July one lower 2.72A; Oct. not May 185% 184'A 184% Ucularly under selling pressure on the about a 5-to-2 margin on the New York ipen. Oats: May unchanged 1.8W4A; Jly 183 181% opening. Oil fell 90 points, just short of stock Exchange, inly and Oct. not open. Rye: May Oct 155 a limit move and this generated a 12 American Telephone Telegraph ower July lower Corn basis Montreal cents a bushel fall in soybeans. Support warrants, among the volume leaders Oct. not open. Mar 350 at any level was very light. on the NYSE, rose to in trading May 357 At the close, soybeans were 3 to 10 that included a block of 230 000 Jly 3M cents a bushel lower, March 5.94'A, warrants at that price. common Feed Wheat wheat 7 to 9 lower, March 3.87, corn was unchanged at 50 1 JWOBtork May 377te '377'A }Vl to 4'A lower' Mardl 3J1 and On the American Stock Exchange, Jly 376 oats 3Vt to 4K lower, March the market-value index rose .80 to Oct 361 Grain quotations Wednesday: 74 45 Calgary The NYSE composite index was up Sep Dec 3.90. Corn: Mar 3.11; 30 at 42 25 CALGARY (CP) Receipts to 11 Str66t pCICCS MayJ.14; Jul 3.13, Sep Dec Among Canadian issues on ,he a.m. Thursday at the Calgary public Mar 2.88'A. Oats: Mar l.SB'A; NySE, Inwrnattonal Nickel was up A stockyards totalled 930 head, mostly bushel street price! Wednesday May 1.56; Jul 1.5014; Sep 1.44'A; Dec to ffiram Wafter ,A slaughter steers and heifers. Trade bas s Uthbridie. "I. Alcan V. to S20. was dull on steers and heifers and ac- 'LW Dome Mines was down V, to and live on cows. '25 Campbell Red Lake V, to JSO'A. Choice steers sold lower, meeting RYE 2CW 2.20S4, 3CW 2.15VS, Canadian Pacific was unchanged at an indifferent demand. Choice heifers 4CW Ergoty OATS- 1 GOldlUtUreS f m.itmB narrow feed 1.49. 2 feed 1.44. RAPESEED 1 Crude oil export tax increased export tax on crude-oil shipments to the United States will be increased 30 cents to a barrel effective March 1, Energy Minister Donald Macdonald said Wednesday. The increase, based on recommendations from the National Energy Board, reflects changes in the international price of oil, the minister said in a statement. Primary reason for the increase is boost in the price of Venezuelan Oil announced last month. Mr. Macdonald also said the tax on Lloyd-minster, Sask., heavy crude oils, lowered to last fall to make it more competitive in the U.S. (Chicago and Midwest) market, is being increased to a barrel. The tax oh other types of heavy fuel oil are being increased to from The export charge on eondensate, produced with natural gas, remains at a. barrel. It was left unchanged to encourage sales since eondensate is produced at a maximum rate during winter months when demand for natural gas is heavy. Other export charges left unchanged are motor gasoline at a barrel and middle distillates at a barrel, the minister said. The export charge was introduced more than a year ago to cover the difference between a frozen domestic oil price of a barrel and higher world prices. Exports to the U.S. total barrels of oil a employees and eliminated another jobs, reducing its salaried force from to The firm said its salaried employment is back to 1971 levels. American Motors, the last of the auto makers to slash work forces 'during the current slump, confirmed Wednesday that it quietly has been laying off employees and eliminating jobs since last November. But the No. 4 U.S. auto manufacturer declined to say how many of the salaried employes on its payroll a year ago have been cut. In addition to layoffs, the companies have trimmed their payrolls by not replacing employees who die, retire or are fired. The companies also have forced workers onto early retirement or required them to take early vacations in lieu of layoffs. Many of the laid-off employees receive company benefits on top of regular unemployment compensation, as do furloughed blue-collar, workers, but others receive no additional compensation. Gas firm's earnings for '74 up EDMONTON (CP) Canadian Utilities Ltd. today reported net earnings from operations for 1974 of or per common share. This compares with or per common share the previous year. An additional or four cents per common share was also reported in 1974 as non recurring gains from the sale of certain utility distribu-. tion facilities. Interim rate increases granted by the Alberta Public Utilities Board contributed to the increase in earnings, the company said. Canadian Utilities is the parent company of gas and electric utilities serving more than customers in Alberta, British Columbia, the Yukon and the Northwest Territories. Its subsidiaries are Alberta.Power Ltd., Canadian Western Natural Gas Co. Ltd., and Northwestern Utilities Ltd. VACANCIES UP TORONTO (CP) The office vacancy rate in Metropolitan Toronto rose to 7.2 per cent in 1974 from 6.3 the previous year, a survey by A.E. LePage (Ontario) Ltd. shows. Vacant office space totalled 3.24 million square feet up from 2.64 million in 1973 because of the completion of 3.5 million square feet during the meeting a broad demand. Bulls BARLEY 1 feed 2.36, 2 feed 2.32. U.S. funds, Winnipeg Commodity Ex- n remained steady. Canadian wheat board selling prices change close Wednesday. JOIIIS BGIW S Steers, Al, A2: 35.50-37. A3: 34-35.50, bas s Thunder Bay: It Heifers Al A2- 34-35 50 A3- 33-34 WHEAT -3 utility OATS-1 400-OUNCE CONTRACTS: CalflC 'ows Dl D2- 1950-21 feed 2 feed BARLEY Apr 75 176.30; Jly 75 180.00; Oct WdlvS WlOU 34- 1550-18 Bulls good- 18-21. feed 2.80, 2 feed 75 I84.60A; Jan76 188.60A; Apr76 There were only light receipts of 193.20. shortkeep feeder steers. Feeder steers Tuesday's 186 contracts. more than 750 pounds: 35-36.50. Gold OTlCBS 100-OIJNCE CONTRACTS: No hogs were sold to 11 a.m. Feb 75 174.90A; May 75 178.00; LONDON (AP) Closing gold Aug 73 132.90A; Nov 75 186.60A; prices Wednesday in U.S. dollars per Feb 76 I90.80A. HOfl DriCOS ounce; Tuesday's volume: 208 contracts. V .Paris-178.44 Frankfurt-175.89 EDMONTON (CP) Pnces to 11 Zuricn_i74.50 JL yednesdayVicesinbrackets. MONTREAL (CP) Thursday's Mlmonton _ exchange selling t DOllar ValUe supplied by the Bank of So-, Hogs sold to 11 a.m. 934. Hogs sold lunds at noo'll Bermuda dollar 1.0100 V '-i" 'i Wednesday, Average 56.55. Sows w g IS China renminbi .5650 average 34.10. Pound sterling was "up 9-20 at I-1 Denmark kroner -1815 Brian Blair In New York the Canadian dollar Germany mark .4250 Gerry Wagenvimrt, DiVldCnCIS was off 1-50 at SI 00 2-25 Pound sterl- Hungary forint .0418 Sales Manager, Beny Chevrolet inn im 9 s at s? i-s ftaly lira .001600 Oldsmobile, is pleased to an-By THE CANADIAN PRESS ing was up 2 5 at J2.37 1 5. Japan yen .0034015 nouce the appointment of Brian Corporation dividends Wednesday, Mexico peso .0804 Blair as Time Sales Manager, quarterly unless otherwise noted. Spain peseta .0176 Brian was born and raised in Win-iwo cents, Feb. 28, record Feb. 14. F86Q Df IC68 Sweden kroner .2525 nipeg. He recently came to Leth-Brascan Ltd., class A, 25 cents, r Switzerland franc .4000 bridge from Calgary, where ae 0.S. funds; class B, 21.25 cents, both WINNIPEG (CP) Wheat, board United States dollar 1.0020 spent 5 years in the finance payable April 30, record April 1; six- domestic feed grain prices United Kingdom pound 2.40 field. For increased service jer-cent pfd., March 31, record Wednesday: No. 1 feed barley 2.75; U.S.S.R. ruble 1.3545 Brian viill specialize in working March 14. No. l feed oats Quotations in Canadian funds. out your finance and insurance British Columbia Telephone Co., needs. 1 feel he is well qualified Spending cut MONTREAL (CP) In a Bank of Montreal survey released Wednesday, 45 per cent of Canadian businessmen said that since October, 1974, they have reduced 1975 capital spending intentions. Forty nine per cent of the respondants from seven cities said planned projects will be implemented, and six per cent said plans had been record March 11; pfd., OS and insurance. April 15, record March 25; 1 1 per-ccnt pfd. 1956 series, April ft 30.25 cents, April I, record March 11; Vj 1 5.15-per-cent pfd., April is; (X tJystcms RFN Y record March 25; 53A-per-cent pfd., Mfcll 1 April i. record March 11; six 1003 4th AvWlllt South, Lethbridge ChaVrVlel OWSBIObile Telephone 329-4426 2nd A... and 8.h S. March 15, record Feb. 21 Phone 328-1101 pfd., 44 cents, April 1, record March 'TV 11. fJDcttei f-'roeesstng it's WHO you know cents: class B, 29.75 cents. Algom 24.00 Rothmans 10.50 Roman Corp. 11.75 Shell CDA 14.37% Sherritt Gordon ,6.3714 Simpsons 8.1 2V4 Steep Rock 1.07 Simp Sears 10.75 Sunningdale 3.70 Steel Can A 28.25 Tek Corp. A 3.00 Selkirk A 14.00 Texmont .18 Texaco 31.00 United Canso 8.25 Trad Grp A 13.25 Western Mines 1.72 Trans Mtn Pipe 10.75 WH Copper Mines 1.71 Trans .Can Pipe Wright Hargreaves 1.15 Union Carbide 19.00 WHirov 1.42 Union Gas Windfall .11 V, .Union Oil 8.25 Yellowknife Bear 2.35 United Slscoe THE FUTURE HOME OF CENTURY SALES SERVICE LIMITED (SUPPLIERS OF INDUSTRIAL POWER TOOLS AND FASTENERS) Pantera at KOOLLeoe MeRCUuy Now Through February VHffMlg .MO INDUSTRIALS Westons 23.25 Abitibi 9.62VJ WMdwardaA 22'25 Alcan BANKS Algoma Steel 28.75 Can Imperial 26.50 Alco Ind 15.87V> Montreal Agra Ind 6.75 Nova Scotia 39.50 Bell Tel 46.00 Royal 30.50 Brascan A 12.B7V4 Tor Dom 39.26 New York (Supplied by Richardson Securities of Canada) Amr T T 50.12V; Woolworth Anaconda 16.50 Westinghouse Elec 12.12'A Beth Sleel 31.50 U.S. Steel 49.12V4 Chrysler 10.25 Gen Tel Elec 21.62V4 Comsat 34.3714 TORONTO AVERAGES Dupont 99.25 20 Industrials 182.68 up 1.79 General Motors 20 Golds 383.69 down 2.32 Gulf 20.75 10 Base Metals 67.54 up .38 Int Harvester 22.50 15 Western Oils 155.40. up 2.36 Kenn Copper Volume Montgomery Ward 19.75 NEW YORK AVERAGES Sews 61-75 20 Industrials 721.05 up 3.20 Exxon 73.87'A 20 Rails 159.41 up .77 Texas Giill 27.62W 15 Utilities 82.11 up ,57 Texas Co 65 Stocks 231.44 up 1.14 Wlx Corporation 11.50 Volume SPACE STILL AVAILABLE Cell 328-1705 Ltthbridflt or 253-7155 Calgary (24 hours) (g) RICHFIELO ;