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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 7, 1974, Lethbridge, Alberta Sneak review Youngster gets an early look at three of General Motor's experimental urban cars as workmen set up displays at Auto show '74 in Toronto Wednesday. GM's experimental cars feature different power systems: Car at left runs on gasoline; one at right is electrically-powered; and vehicle at centre is powered by a combin- ation of gasoline and electric power. The car show opens to the public Friday. Koo tenay fores t firm bought by B.C. gov't VICTORIA (CP) The British Coiumbia government added another industry Wednesday to those it controls or in which it is a major shareholder. The government announced it had bought Kootenay Forest Products Ltd. in Nelson, a division of Eddy Match Co. Ltd., for million. In the past 12 months, the New Democratic Party government has invested or committed itself to invest about million in industries in the province. The government has invested million of the province's tax and pension money in buying out or buying into 10 private enterprise Proposed gas plant opposed CALGARY (CP) A proposed multi-million-dollar gas processing plant to be operated by Consolidated Natural Gas Ltd. was opposed Wednesday on grounds rthat good conservation measures will not be used. C. E. Crawford of Dome Petroleum said Consolidated's proposed plant at Empress, Alta., was "designed solely to meet contractual problems and the board should not be a party to such action." Speaking at an Alberta ANNOUNCEMENT UNDERWOOD ASSOCIATES LTD. j.stims. Mr. Dennis J. Cote. P.Eng., Vice President of Underwood McLellan Associates Lim- ited and Manager of the Company's operations in Calgary and British Col- umbia, is pleased to an- nounce the appointment of Mr. Vernofl J. Sentis. M.Sc.. P.Eng. as Senior Engineer in the Environmental Control Department for the UMA Group in Calgary. Mr. Sentis holds an M.Sc.. Degree in CiviJ Engineering {Sanitary Engineering) from the Uni- versity of Saskatchewan. Mr. Sentis was Head of the Water and Sewage Works Division in the Saskatchewan Department of the Environ- ment for five years prior to rejoining Underwood Mc- Lellan. In his new position, Mr. Sentis wiii be responsible for concepts and designs in the fields of water supply, water treatment and waste-water treatment Urwerwxx! A- As- sociates Limited is one of Ihe largest engineering com- panies in Canada Founded 63 years ago, it now em- ploys 500 in 20 offices from Vancouver to Toronto. The Company is entirely owned by employees. (Advt.) Energy Resources Conservation Board hearing, Mr. Crawford added: "Dome is opposed to the scheme as presented because it does not represents good conservation practices." Consolidated wants permission from the board to build the plant, estimated to cost up to million, at Empress, 175 miles east of Calgary on the Alberta- Saskatchewan border. Natural gas would be processed to extract pentane and butane byproducts. G. D. Nichols, representing Consolidated, said "time is fast running out" for the company to meet its Dec. 28, 1974, deadline to begin processing gas carried by TransCanada Pipelines Ltd. He admitted the firm's proposal may not be, the most economic method, but emphasized Consolidated's first choice was to nave its gas processed at an existing facility. Start truck program to move grain WINNIPEG (CP) At least nine million bushels of wheat will be trucked from country elevators to interior terminals in Saskatchewan and Alberta this winter as part of the largest trucking program yet undertaken by the Canadian Wheat Board. Commercial trucks Monday began hauling durum and red spring wheat from country elevators in Saskatchewan to government terminals at Saskatoon and Moose Jaw the Wheat Board said in a news release. The special trucking program, the largest since trucks were first used to move grain to interior terminals two years ago, will continue until July 31 The trucking agreements are the longest negotiated to date by the board. The size of the 1974 program will enable the wheat board to build up supplies to take advantage of additional export opportunities. At the same time, the board will make more efficient use of available railway equipment and draw from rail lim? '.ol ,ced b7 tfcs rajhwys the release The uuckifig program is being undertaken with the co- operation of the Canadian Grain Commission, Canadian government elevators and individual grain companies. ventures. In addition, it has committed million" in four other operations. These negotiations are in various stages. This million does not include million which has been loaned to the govern- ment's Insurance Corp. of" B.C. about million advanced to its Ocean Falls Corp., and guaranteeing a million loan for a feed co- operative in which the government now owns a 27.7- per-cent interest. The government now is in- volved in 17 ventures. Its big- gest entries, costing nothing in equity investment, are the ICBC; the B.C. Petroleum Corp., an agency for buying at the wellhead, and Canadian Cellulose Co. Ltd. Early estimates place 1974 returns from the petroleum corporation at about million, leaving a net profit of million, cppiderjng the million in natural gas royalties the government collected in 1973. The ICBC has probably been able to repay some of its loan from the insurance premiums which all Autoplan customers must pay in advance. The largest investment the government made was million to buy 13.5 per cent of Westcoast Transmission Co. Ltd. The shares of Westcoast, bought for each, traded Tuesday at A government pension fund holds shares of B.C. Telephone Co., bought at which traded Monday at Companies in which the gov- ernment has an interest are: Kootenay Forest Products Ltd., bought from Eddy Match Co. Ltd., for million. The company had 1973 profits of million and is expected to nave million in sales this year. Ocean Falls Corp., bought from Crown Zellerbach Canada Ltd. for The government also assumed mortgages for an additional and has provided loans of about million. Canadian Cellulose Co. Ltd., bought from Celanese Corp. of New York with the government assuming the guarantees on long-term debt. Private shareholders own 21 per cent, the government the balance. Expected to show a million to million profit for 1973. Plateau Mills Ltd., bought from private owners, mostly American for million. Government investment now million. Oil-import bill strain on dollar WASHINGTON (AP) The United States oil-import bill will increase by an unprecedented billion this year, but the dollar will withstand the financial strain, President Nixon's annual international economic report said today mitr} thf n Uve doilar vaiue of oil imports., saying it will rise to billion in 1974 from billion in 1973, adversely affecting the U.S. balance of payments and its trade balance. The Herald Thursday, Prtrovy THE LETHIRIDOE HERALD It Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN OILS AND MINES Alton Mines 8 50 Albany Oil .68 Alminex Asamera 13.00 Ashland Oil 11.25 Alta East Gas 6.62 BP Canada 14.00 Brenda Mines Can Southern 5 62Vz Cdn Exp Gas 3.35 Cdn Homestead Cdn Ind Gas Cdn Long Island .21 Chieftan 58 00 Cdn Superior 58.00 Dome Pete 39.25 Dynasty 10.00 Fort Reliance .30 Giant Mascot 2.30 Gibraltar-Mines 11.50 Granisle 8.50 Great Plains 29 25 Gt Cdn Oil Sds 10.25 Lochiel Exp 2.85 Lytton Minerals 1.60 Noble Mines 1.07 North Cdn Oils 5.25 Numac 16.00 Pancdn Pete 12.50 Pan Ocean 17 Petrol 1.80 Pinnacle 21 Place Gas .50 Ponder .50 Ranger Oil 45.75 Scurry Rainbow 22.50 Seibens Spooner 40 Total Pete Ulster Pete 1.34 United Canso 21.50 WC Pete West Decalta 7.50 MISCELLANEOUS INDUSTRIES Acres Ltd 10.50 Aquitaine 28 BC Sug A Pfd 14.00 Block Brothers 3.60 Cdn Pac Inv A Pfd 32.25 Com Cap Corp 2.40 Carlmg O'Keefe A Pfd 24.00 Carlmg O'Keefe B Pfd 28.75 Crestbrook For Ind 8.00 Crowsnest Indus 26.50 Falconbridge Cop 11.75 F and M Trust Co 5.12% Genstar 1700 Glob Com Units 39 00 Home Oil A 52.00 Home Oil B 48.00 Hud Bay Co 16.50 Hud Bay Oil 44.25 Hud Bay Oil A Pfd 50.00 Hugh Rus C Pld 53 75 Husky Oil 20.75 Husky Oil B Pfd 39.25 Husky Oil D War 6.12vz Husky Oil E War 9.00 Hys of Canada 3.15 Int Pro Pipe War 6.75 Int Pro Steel 15.00 Kaiser Resources 4.70 Loblaw C Pfd 25.50 Magnasonics 5.50 Pacific Pete 33.00 Pac West Airlines Pe-Ben Oilfield Serv 6.50 Rainier Inc 3 Royal Trust 26.50 Sandwell Teledyne Trimac West Cdn Sd Pro Westfield Minerals Weston A Pld White Yukon 5.75 485 4.30 1.23 59.25 8.50 Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb. Akaitcho Bralorne Broufan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwesr Cons. Rambler -Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Mantimes Giant V.K Granduc HoMmger Hudson Bay MSS Hydra Ex. Iron Bay Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen RL Malartic G.F. Martin McNeely Maclntyre Mela Midrim Intern Mogul Mu West Homes New Alhona ffew Calumet Noranda No-lngate Pne Po.-.t PJacef Dev Pax Quebec Man Rayrock Radrore Rio Algom Roman Corp Gordon Steep Sunnrngdate Tets Corp A United Canso Western Mines WH Copper Wlmes WnaM Hargreaves fitxib AlMf, Algoma Stee-l Ind Janfiock Agfa ind Sell TCi Brascao A BCTtf Forest .11 1.20 Sugar A Bow Valley Ind Ind .80 O'Keefe Chemcell Cellulose 4.90 Power Coron Credit Gas Pfd Industries Marconi Vickers 4.75 CPR 2.43 Bathurs Cons- Gas 8.25 Seagrams Dom Bridge .47 Dom Textile Stores Pete Mobile Cdn Oil Sands .63 Motors Grt Lakes Paper Gull Oil Cda Sid Walker Erie .30 Oil Imasca Nickel Pipe Grp A Int 1 3.40 Accept Kaps .62 Doug A Laurentide -16 A Metropolitan Massey Ferguson McMillan Bloed .41 Corp Mclsons A B New 3325 Cent Power Corp 1 Co Rothmans .33 1450 CDA Swnp Sears Steel Canada A Gtp A Mtn Pipe Can Pipe Gas Oil Sisooe S ?7 uw A 3187 CtJn Seeo imperial Seolia Darn 1900 20.00 15.25 9.00 3-90 S.75 6.25 23.00 2.25 10.00 16.87V4 3.50 16.75 33.62% 26.50 38.50 23.37VJ 9.50 12.75 39.25 30.75 10.25 49.75 24.00 31.75 17.00 5.25 50.75 27.25 29.00 35.50 21.25 8.25 17.75 17.75 4.60 10.25 3.55 16.75 3037'i 49.62'i 21.62'7 20.75 725 1225 K.25 14.75 19.25 11.50 1350 49.50 14.75 3375 1675 775 S.62'7 2200 20 ?S New York irtortfsofl Securities of Canada) An-r rr I 340 265 29.00 20.12H 38.00 3575 17 SO 2? 12 X' 12V Montgomery Ward Sears Exxon Texas Texas Co Wix Ccrrporalion 8537 3225 13 S7' T't ?Zt? 'f-f T Srxf-i 5.5 O'ii ST down J 438 000 MEW YORK AVCflAGES 'i 2C 82? 12 up 2 SO 20 Rails 184 07 wp 1 42 15 Utilities S3 23 op S3 65 Stocks 26532 Wp 1.38 Volume 7.300.000 Stock market prices up in active TSE trading TORONTO (CP) Prices on the Toronto stock market moved fractionally higher in active mid-morning trading today. The industrial index, consid- ered the main indicator of market trend, was up .23 to 212.11 and golds 4.32 to 558.47. Base metals fell .62 to 106.25 and western oils 2.06 to 260.26. Volume by 11 a.m. was 1.58 million shares, up from L42 million at the same time Wednesday. Advances edged declines 151 to 147 with 175 issues un- changed. Bank, paper and forest, gen- eral manufacturing and steel stocks were among sectors of the market to gain while beverage, pipeline, oil refining and food processing issues declined. Algoma Steel was up to PIPE LINE STOCKS Alia Gas Line A 12.00 Alta Gas Line Pfd 63.00 Alia Nat Gas 19.00 Inland Nat Sas 9.75 Gaz Metro 6.00 Gaz Metro A Pfd 65.00 N and C Gas 12.25 N and C Gas B Ptd 23.50 Pac Gas Trans 10.37V4 Tr-Can Pipe 33.75 Tr-Can Pipe A Pfd 62.75 Tr-Can Pipe B Pld 36.00 Tr-Can Pipe War 4.90 WC Trans 23.50 WC Trans Wts 3 95 CALGARY Acroll .76 Barons Oils .09 N Continental West Warner 28 VANCOUVER MINES Atlas Explor .35 Bath Norse 1.37 Dankoe 2.90 Davenport .58 Equitonal Res .21 V4 Lornex 9.00 Northair Mines 3.80 Primer .15 Pyramid Silv Standard .83 Valley Copper 9.75 INDUSTRIALS Colum Brew 2.85 Key Industries .13 Wardair 1.55 OILS August Pete .76 Plains Pete .21 Pond Explor .95 Stamp Intl Res .83 MUTUAL FUNDS All Cdn Compound 6.37 6.92 Ail Cdn Dividend 6.74 7.33 All Cdn Ventures 3.51 3.82 Amer Grow F 4.58 5.03 AGF Special 2.47 Cdn Invest F 4.86 5.33 Collect Mutual 5.31 5.61 Common Inter 13.49 13.49 Com Leverage 3.18 3.18 Com Venture 5.56 5.56 Corp Investors 6.22 6.84 Corp Invest S F 4.82 5.30 Dreyfus Fund US 10.35 11.34 Grt Pacific 4.58 5.00 Grpd Income 3.02 3.33 Grow Equity 7 29 -8 01 Invest Glow F -'11.8212.92 Invest Mutual 5.63 6.15 Mutual Accum 5.92 6.51 Mutual Grow F 3.14 3.46 Nat Resources 4.84 5.32 NW Cdn 5 19 5.70 NW Growth 4.36 4.79 Principal Grow 4 43 4.86 Provident Mutual 7.32 8.00 Royfund 6.64 6.91 Temple Grow 7 37 8.08 United Accum 4.69 4.93 Univer Savings 7.87 8.66 Univest 5 72 6.29 Vanguard 5.76 6.32 Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Thursday from the Calgary public stockyards totalled about 950 head, mostly slaughter cattle. Trade was dull on steers, moderately active on heifers and cows with buyers being very selective. Slaughter steers sold a full lower. Heifers sold steady Chicago markato CHICAGO (AP) Silver futures touched lirrits for one session on the major United States exchanges- Wednesday for the fifth consecutive day The demand for silver futures continued strong, but sellers were scarce Limit moves for one session were increased in New York and Chicago to 15 cents an ounce from 10. The expiring February options have no trading limits. Copper futures fell to limits, and heavy declines were posted in coffee, rnciia. and wool futures. Cotton and orange juice were mixed. All commodities on the Chicago Board of Trade fell under liquidation that, in part, consisted of profit-taking on recent long positions Wheat, corn. soybeans, soy oil and meal eased. On the Chicago Mercantile Kxchange. pork bellies, shell eggs, live cattle and hog futures all declined for a variety of reasons. Cattle and hog futures declined despite light marKetings. The overriding concern appeared to'be a truckers' strike of some duration. Pork bellv futures were sold on increased .storage reports, while shell eggs eased on reports of higher inventories Weakness in gram futures was attributed to a lack of incentive for any sustained price move in either direction Karly selling was attributed to reports the I'.S government will buy_ wheat from Russia or Canada. tiie corn and oats welling was associated with liquidation in wheat. Soybeans, oil and meal weakness was largely profit-taking and concern that Russia's sunflower seed oil production might cut into U.S. soybean oil and soybean sales. Grain close- Wheat- Mar 559: May 5.30. Jul 4 81'2. Sep475: Dec 4.78 Corn. Mar2.96: May 2.99V, JulSOl: Sep 2.94'a: Dec 2.70. Mar Oats: Mar 1.66'.. May 1 68'i: Jul I Kt'i: Sep 1.65: Dec 1.67. Hog prices EDMONTON (CP) Average prices to 11 a.m. Thursday provided by the Alberta Hog Producers Marketing Board with Wednesday average in brackets: Edmonton. 47.55 Red Deer: 47.60 Calgary: 47.50 Lethbndge- Nil Lloydminster: Nil Fort Macleod. Nil (48 Grande Prairie: Nil Total hogs sold to 11 a.m. 744. total sol'd Wednesday 5.891. average 47.68. Sows average 35.40. and cows were fully steady. A few bulls sold on a strong basis. Steers Al and 2 48.50-49.90. A3 47- 48.25. A4 45-47. Heifers Al and 2 44- 45.50. A3 42-44. A4 38-41 Cows Dl and 2 33-34 25. D3 32-33. D4 25-31.50. Good bulls 40-44 Feeder cattle were in short supply selling steady. A few stock calves sold steady Good feeder steers 576 to 750 pounds 45-51. Good feeder heifers more than 600 pounds 39-42. Good stock heifer calves more than 400 pounds 39- 43 Hogs f.o.b Calgary to 11 a.m. average base price 47.60. Winnipeg grain WINNIPEG JCPI The market continued 'weak on active trading through mid-session on the Winnipeg Commodity Exchange today. The only transaction at prices above the previous close was in May barley which opened up the 10 cent limit Klax. rapeseed and rye prices all continued moving downwards as .selling continued to put pressure on the market. Flax lost as much as 22 cents while rapeseed and rye were down as much as nine cents. The volume of trade Wednesday was 251.000 bushels of flax. 971.000 of rye and 1 220.000 of rapeseed. Mid-session prices: Flax- May 11 lower U.05B. July 12 lower 10.53B: Oct. 8 lower 1020A: Nov 22 lower 10 10A. Rapeseed Vancouver: March lower 7.22'zB: June 5 lower 6.78B. Sept. 1 lower 6.3SA: Nov unchanged B20A. Rapeseed Thunder Bay: May 7 lower H7SB: July unchanged 6.64A. Oct unchanged 6 22A. Nov. 4 lower 6 224. Barley- May 10 higher 2.75'2. July not open. Kye Mav lower July 5 lower '.sB. Oct 7 lower 2 76A. Dec. i lower 2.741 iB. WINNIPEG (CP) Grain Wednesday (basis High Low Flax May 1125 1117 JlV 1073 1062 Oct Nov Rapeseed Vancouver Mar 737 732 Jun 691-683 Sep 645 636 Nov Rapeseed Thunder Bay May 692 685 Jul" 664 Ocl Nov Rye May 316 Jul 300': 389'2 Oct Dec quotes Close 1116 1065 1028 1032 732 683 636 620 685 664 622 626 289'2 283 282 Gold futures WINNIPEG (CP) Gold futures. I'.S funds. Winnipeg commodity exchange close -Wednesday. Apr 74 141.80B. Jly 74 147.00: (h-t 74 152.25. Jan 75 157.20: Apr 75 163.50. Tuesday's volume. 198 contracts. futures WINNIPEG (CPi Live beef luturcs close Wednesday. Mar 54.00A: May.- 55.50N: Jul 5500N. Sep 54 ION. Tuesdav's volume' No contracts. MONTREAL (CPt Thursday's mid-day foreign exchange nominal selling rates supplied by the Bank of Montreal. Australia dollar 1.475 Bermuda dollar 1 02 China renminbi .4900 Denmark kroner 1560 France franc financial 1980 Germany mark .3630 Italy lira commercial .001555 Japan yen 00330 Mexico peso 9805 .Spain peseta .0175 Switzerland franc United States dollar 9840 United Kingdom pound 2.22 U.S.S.R ruble 1.3395 Vuolaunns in Canadian Daon Developments Vz to Occidental Pete to MICC Investments to and Bank of Nova Scotia to Lincoln Trust fell 1 Falconbridge Nickel 1 to 161, Home Oil A 1 to Crown Life Vz to and Dylex A Vz to Sigma Mines lost to Placer to and Agnico- Eagle V4 to Dome Mines was up 1 to and Giant Yel- lowknife to United Canso was down IVg to and Sunningdale to Ranger was up to MONTREAL Prices were generally higher in light trading on the Montreal Stock Exchange today Volume at a.m. was 442.400 shares, compared with 478.900 at the same time Wednesday. Banks rose 2 15 to 274.22. papers .79 In 129 13. industrials 13 to i36 86. and the composite 12 to 221 50 whilp utilities fell 85 to 139 31 (Jcnslar rose to International Nickel i to MacMillan Bloedel 'i tn and Mercantile Bank of Canada i to while Gulf Canada lell 'i 10 Among speculative issues. Fallinger I'urp rose rour cents to 54 cents trading 21.500 shares VANCOUVER iCPl Prices were mixed in heavy trading Wednesday on the Vancouver stock exchange. at the close was 3.684.928 shares On the industrials board. Key Industries was at 14 on a turnover of 14.500 shares Block Brothers was down 10 at 55 on 10.800 shares. EDP Industries was unchanged at .21 on 7.000 shares, lonarc was unchanged at on 6.900 shares. Pacific Northern (Jas rose .20 to 40 and Walker Class A was at In the mines. Northair. down .55 at on 184.200 shares, led trading while Dolly Vardon was up .01 at .51 on 118.650 shares. Yukon Gold was at .50 on 101.700 shares. Barrier Reef was up at 85 on 97.300 shares. Brendon Ltd was up .01 at 65 and Consolidated Fortune Channel fell .06 to .29. Vargas led trading in the oils and was down half -A cent at .26'2 on 161.500 shares. Vargas Warrants were line-hanged at 11 on 63.200 shares. August IVtrolcum was down .01 at .76 nn 406 shares. Seneca Developments was up 07 at SI 40 on 38.800 shares. Alaska Kcnai rose .10 to and Krci-hold fell 05 to 65 NEW YORK !AP) The stock market continued its slow drift today, .showing only slight gains. The Dow Jones average of 30 industrials at noon was up 0.47 at H25 09. after having been up more than d point earlier, while advances led declines on the New York Stock Exchange by three to two. On the American Stock Exchange, the market-value index at noon was up 0 14 to 95 08. while the NYSE composite index was off to 49.88. NYSE prices included Eastman Kodak, down to after an unfavorable mention by a brokerage house. Dow Chemical, down 1 to Walt Disnev Productions, up :-'i to S42V and UAL. up 1'. to Mountain Fuel Supply was off i ''s to SK! An investigation is under way into some transactions in the company's .-Ux-k last month Autos were strong, with GM up to and Chrysler up to On the Amex. Frigitronic was lo Among Canadians on the NYSK. Dome Mines gained 2 to Mclntyre to Genstar to SI7'i'. Seagrams 'i to In- ternational Nickel and Hiram Walker i to .Mean was unchanged at Canadian Pacific at and Massey- Fergusim at On the American exchange. Brascan d-uned i toilti'z. Preston 'i and Si-urn1 Rainbow lost to Fire Salvage 1973-model B30 SPORTSMAN MOTOR HOME CROSSLAND PEACOCK LETHMMECO.LTB. 519-7thStS. LONDON (API Closing metals bid-ask in pounds sterling a metric. ton: silver in pence a troy ounce: Copper-Spot 936-938. futures 927-928 Tin-Spot 3.ISO-3.200. futures 3.120- 3.125 Lead-Spot 270-271: future 277-277 5 Zinc-Spot Silver-Spot 2072075: 3 months 215 3 P rocessng vS 1003 4th Avenue S., rocessint services These men have helped a lot of people. ci'ifc fniliirn ri'-illar? hr-ir their 'ir.pi 5, Vib rh v. l! k-ari V> 'i As oml' mpnl A which n't qnrj buikJ o' the J A Gogo rq Me SYNDICATE LIMITED ;