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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 8, 1974, Lethbridge, Alberta Friday, February 8, 1974 THE LETHBR1DGE HERALD IP Stock prices up in active trade TORONTO by a strong rise in golds, the Toronto stock market moved moderately higher in active mid-morning trading today. The gold index was up 24.8 to 586.88 in response to higher gold prices in Europe and base metals 139 to 10756. The industrial index, considered the main indicator of market direction rose .37 to 212.33. Western oils fell 1.81 to 259.01. Volume by 11 a.m. was 1.86 million shares, up from 1.58 million at the same time Thursday. Advances led declines 203 to 122 with 194 issues unchanged. General manufacturing, oil refining, merchandising and Market trends MONTREAL (CP) Prices in all sectors moved fractionally higher m light trading on the Montreal Stock Exchange todaj Volume at 11 00 am was shares compared with 442 400 at the same time Thursday Papers 'ose 98 to 130 07 banks 79 to 273 bO Utilities 31 to 14013, the composite 21 to 221 54, and industrials 09 to 23f> 75 Great-West Life Assurance rose SVfe to Placer Development to Power Corp li to Rio Algom Mines 3e to and Chrysler to Among speculative issues Gold Hawk Mines rose one cent to 62 cents trading 50 450 shares VANCOUVER (CP) Prices were up in heavv trading on the Vancouver Stock Exchange Thursday Total volume at the close was shares In the industrials Key Industnes led trading up 01 at 15 on 19 500 shares Allcan B was at 60 on 18 500 shares Newmark Resources was at 10 on 9 400 shares EDP Industries was at 21 on 7 000 shares Captain International was at 64 and International Visual was at 15 In the mines Northair was up 05 at S3 70 on 251 607 shares Avmo was up 06 at 50 on 188350 shares Dolly Vardon was up 04 at 55 on 134 100 shares Brendon Ltd was up 05 at 70 on 90775 shares. Barrier Reef was down 10 at and Brenmac was down 08 at 53 In the oils Vargas was down one-half cent at 26 on 45 750 shares Freehold was up 05 at 70 on 39 850 shares Seneca Developments was up 05 at 52 on 21 830 shares August Petroleum was down 03 at 73 on 18 355 shares Chapparall was at 11 and Stampede was at 84 NEW YORK (AP) The stock market drifted lower today as investors awaited with some trepidation the outcome of the Arab oil producers meeting next week The Dow Jones average of 30 industrials at noon was off 4 93 at 823 53 while declines held a small lead over advances on the New York Stock Exchange In the news gold prices were up and several banks announced cuts in their prime lending and positive developments that brokers said tended to offset one another On the American Stock Exchange the market value index at noon was off 0 09 to 94 91 while the NYSE composite index was off 0 25 to 49 70 NYSE prices included Pittston up 1V. to 2 after a 100 000-share block traded at Simplicity Pattern, which fell sharplv Thursday on a reduced quarterly earnings estimate, off I'z to and Gulf Oil down to Stocks benefiting from the gold-price rise included Homestake Mining up 3 to and ASA Ltd up 4-Xi to Among Canadians on the New York exchange. Dome Mines gained to Mclntvre 1 to and Alcan Vt to S32--K Hudson Bay dropped li to i and Massev Ferguson to Canadian Pacific was unchanged at On the American exchange Scurry Rainbow lost '2 to and Preston advanced i to Livestock Calgary CALGARY (CP) Receipts to 11 a m Friday from the Calgary public stock) ards totalled about 600 head Trade was active There were no slaughter steers or heifers on offer Cows sold steady and a few bulls sold steady Cows Dl and 2 33-34 35 D3 32-33 D4 23-31 50 Good bulls 4044 Feeder cattle on offer were mostly yearling steers and heifers in the lighter weight range Pnces were steadv for quality Chicago markets CHICAGO (AP) Silver and cotton futures advanced to limits for one session Thursday Most grains on the Chicago Board of Trade rallied late in the session but live cattle closed on a mild tone while live hogs and pork bellies declined and shell eggs gained a few points Cocoa futures were up but wool and world sugar prices were irregular The move in silver 15 cents in Chicago was a limit gain In New York the close was short of the limit Demand however was strong at all exchanges and sellers became scarce after strong openings There was a scarcity of cotton offerings in New York and prices quirkh touched top levels for the da} An increase in inventory totals influenced a sell-off in shell egg futures While buving is improving the trade reported, interstate movement of eggs is slow There was some firming of prices in the cattle hog and pork bell} pigs on the opening but prices improved under a good mixed demand All three pits then weakened under liquidating pressure under some fears that stocks will increase sharplv when the truck strike Prices of the major commodities on the Chicago Board of Trade were mixed for a time after the opening, then weakened Grain Wheat Mar 5 66 Mav 541. JuH 84 Srp480 Dec 482. Com Mar 297 Mav Jul "ffll'j Scp2J7 Dec271 'j. Mar275 Oats MariW. 1 Jul 163 Sqi Dec 1 66 Stock calves were practically all in the 400 pound and up weight range with prices on a generally steady basis Good feeder steers 576 to 750 pounds 42- 51 Good feeder heifers 550 pounds and up 39-44 Good feeder cows 29-34 50 Good stock steer calves more than 400 pound? 45-51 Good stock heifer calves more than 400 pounds 39-45 Hogs Calgarv to 11 am average base price 46 55 Hog prices EDMONTON (CP) Average prices to 11 a m Fnday provided by the Alberta Hog Producers Marketing Board with Thursday average in brackets Edmonton Nil (4645) Red Deer Nil (46 74) Calgary Nil (4750) Lethbndge Nil (47 301 Llovdminster Nil (4585) Fort Macleod Nil (4693 Total hogs sold to 11 a m 131, total sold S 777, average 46 68 Sons average 34 50 Winnipeg grain WINNIPEG (CP) Flax prices strong at mid session on the Winnipeg Commoditv Exchange today in a mixed volume of trade Rapeseed recovered from a relativelv dull opening to post gains of as much as 17 cents on commission house trading Rve gained about four to five cents in a moderate demand Thursdav s trading volume was 1 444 000 bushels of rye 760 000 of flax. 15 of barlev and 000 of rapeseed Mid-session prices Flax 21 higher 11 54. Juh 21 higher 11 07 Oct, 5 higher 10 41B. Nov 2 higher 10 22B Rapeseed Vancouver March 11 '4 higher 7 June 12'i higher 7 O7'z. Sept 17 higher 6 69B. Nov 5 higher Thunder Ba> Mav higher 70S3! Julv unchanged 6 648. Ort unchanged S 22B N'ov unchanged fi22B Rvc 4'i higher Julv 4% higher 3 Oct and Dec not Urn The Herald Business bank stocks were among industrial sub-groups to gam while paper and forest, chemical, communication and utility sectors declined. Among golds, Campbell Red Lake rose 4 to Giant Yel- lowknife to ?25Vz, Camflo to and Sigma to Westcoast Transmission was up to Microsystems to Mercantile Bank to Canadian Imperial Bank Vz to and S.B McLaughlin to Home Oil A fell 1% to Cominco Vz to and Budd Automotive to Ranger was down 1 to and United Canso to Beef futures WINNIPEG Live beef Joluncs clfoic Var 5575B 5520 Sqi M Ifl volonw No contracts Flax Mav Jlv Oct 1133 1096 1036 1099 1048 1020 Rapcsccd Mar 727% 722'; Jun 675 Sty Thunder Bav S7S MONTREAL (CP) US dollar in irrmt