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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 11, 1975, Lethbridge, Alberta Tuesday, February 11, 1975 THE LETHBRIDQE HERALD 23 Farmer security -Tlu- OTTAWA (CP) The largest farm-pressure group in the country, the Canadian Federation of Agriculture, says it is concerned about the possibility that world food supply might become uncer- tain unless farmers -are guaranteed a stable income. Canada's more than farmers, madethisplainatits annual conference today Mr. Munro, a hog and dairy Ont, sad that, the only rational "Farmers' security is the that must not be ignored." But, he said, it is in danger of being ignored. At the world food conference in Rome last November, at which Canada pledged one million tons of food aid annually over the next three years the essen- tial connection between food security and farmer security was too little emphasized and oo little Mr. Munro said. "There are basic moral issues involved in the question of food security for the world's 'peoples "But, in much of the very legitimate idealism and concern that is expressed, I sense a great many people are inclined to set aside hard con- sideration of prices, profitability, stability and market outlets." The CFA president said the federal government's propos- ed agriculture income stabilization legislation is an indication that Ottawa .has realized the problems faced by farmers. offshore oil, gas plans C17U.I1 IV piy key Business But more was necessary, income, cushioned against' 1 economic slumps, poor, crops 1 Mi 1 or depressed world markets. 1 1 "The time has come to put in place an over-all national miscellaneous policy and program for _ agricultural stability and in- Vancouver, Calgary, Montreal come Mr. Munro Midland Doherty r. kiii WESTERN It is absolutely essen- AND tial that in 1975. Canadian f farmers, through the Cana- A ta" East Traders Grp Pfd 5.37% 5.00 dian Federation of Westfield 10 Agriculture, move strongly, Weston A Pfd White 6 00 unitedly and decisively to BP PIPELINE whst thpv want nnrl Brenda Alta Gas Trk Cda Alta Gas Trk take steps to achieve it. Cdn EX Alta Nat "Organizationally, there is gjj no single channel except the Cdn Long Gaz Metro 7.25 Gas Metro A Pfd .14 Inland Nat 50.00 8.12% CFA .through which farmers N C tt th Chleftan N C Gas B and tneir organizations can Dome Trans-Cda speak and act jointly." Trans-Cda A Nufoii Trans-Cda B He said the various levels of TransCda government will be tested se- WC Trans 12.50 WC Trans 2 65 verely in the coming years by si Cdn Oil s the world food problem. 1.10 CALGARY 1 12 "Some are saying that the Barons Oil 1 1 50 N. .02 continually rising living stand- Pancdn 'Western ards that we have come to ex- pect and depend on must come pface Gas to an end. They are saying MINES Bathurst .67 there are limits to continuous- ly escalating use of non- 4 75 renewable resources. Kef "Others are saying that we must urgently learn to share west Valley more generously what we Westcoast that if we do not, the rising tide of billions of pover- Acres Lid Industries 6 50 1.50 ty stricken people will engulf Aquitaine BC Sugar Pfd Block OILS 1225 August Petroleum Plains "Some predict gloomily Stampede Int'l Resources' 29.25 that the world s economic Cdn Pacific MUTUAL machinery is going to come A ptd apart if we don't set up major cSSffcaS A" Cdn. Compound 23.50 A" Cdrt- Dividend 2 00 All Cdn. 5.43 2.18 new international and national crestbrook American Growth" institutions, rules and plann- A.G.F. Special 625 Eaton 12.35 ing procedures. F M Trust 25 Eaton "They could be Int'l Venture 22 75 Corp. 533 Mr. Munro said that while Hud Bay 50 Corp Investors Stock there is no need to panic, nei- gjjj ig oil A Pfd ther is there reason to com- Hugh Dreyfus Fund U.S. 31.00 Grouped Income Shares 58 00 Investors Growth 2.51 10.48 placent. Husky Investors Husky Oil B Mutual Husky Oil E Nat. Interprov 20 N.W. -m Interprov Steel j n Kaiser Res CftCIf Kaiser Res War 0 Loblaw Co C N.W. Growth 7.00 Principal Growth Royfund 26.50 Templeton 2.67 5.17 7.23 United Pacific Universal o i n Pe-Ben Oilfield 18 mid-morning trade TSE records sharp price losses TORONTO (CP) The To- ronto stock market recorded sharp losses in light mid- morning trading Tuesday, continuing a trend of the two previous sessions. The widely-based industrial index was off 1.13 to 179.93, base metals .50 to 67.53 and western oils 2.15 to 155.09. The gold index was up 1.99 to Volume by 11 a.m. was 000 Shares, down from 524 000 at the same time Monday. Hprlinpi nnlniirnhprprl ari Declines outnumoerea aa- vancesbytwotoone, 149 to 70, with 148 issues unchanged. Falconbridge Nickel was off IVi to Inco A 1 to Texasgulf to Home Oil A to and Moore Vi to Grafton Group rose to Mdntyre Mines lost to United Asbestos 30 cents to and Dynasty Vt and Dickenson North Canadian Oils dropped 70 cents to Numac Vs to and Sun- ningdale five cents to Market wiossw. m (lie Montreal Stock Exchange. AnalysLs attributed the decline o SuT fconL'I'c prospccts-chaeterized by spiraling unemployment as well as Inflation-so smal' Volume at a.m. was shares compared with Monday. Papcrs ,M, 10589j jn. dustriais i.ii to 182.92, the composite 0.94 to 180.83, banks 0.82 to 247.78 and ,10 Canadian Javelin dropped 'A to Dome Petroleum 'A to The Price Co. to and Husky oil to Among speculative issues, Bruneau was off two and a half cents to 20 cents on of shares. in moderate rk Stock Ex- to-1 lead over f trading on the P change. At the American Stock Exchange, the market-value index .35 to 74.49. The NYSE's composite index of all its listed common stocks was off .01 at 41.67. Among Canadian issues on the NYSE, Dome Mines was up 14 to Canadian Pacific !fe to International Nickel1 was down Ki to and Massey Ferguson to Campbell Red Lake was unchanged al markets TRENTON, N.J. (AP) The governors of all four ifiuuair tuta Gov. Brendan Byrne of New the mid-Atlantic states pre- ,_ Jersey'said today he will file a sented a joint policy state- (Supplied by Richardson Securities of court challenge to' the United ment calling for "prompt ex- Tel 53.00 States 'Interior department's ploration" of offshore areas to Adracate Asb plans to open areas off the find out where oil and gas may Burns 50 1.05 BC Forest 14.75 1.60 BC Sugar 32.00 mid-Atlantic coast for oil and lie. Bow Valley Irid 12.25 gas development. But they urged that explor- Cable 13.00 CAE Ind 7.00 Byrne was the first witness ation be separated from' ac- Cdi Power 24.25 at public hearings opened in tual development to allow cannSNW Canbra Foods ,3.25 3.30 Can Cellulose- 6 87 Vz Trenton on the interior time for the states to preoare Canada Carling O'Keefe 2 26 department's proposal for for the impact of new oil" and Pat leasing of untouched offshore gas industries. Chemcell 385 .85 CNW Gas Pfd 8.00 .88 Cdn Ind 13.75 areas. Cdn Marconi 3.40 As the hearings began, Roy- Cdn Vickers 13.75 -18 Chrysler 9 50 ston Hughes, assistant PIVI cote rlrito Cochenour interior secretary for IfM SCtS date CPR 3.60 Cominco 2725 8.00 Cons Bathurst 24.75 program development and p Denison Cons Gas 1562V5 budget, told the gathering that IOr new C3F Sewine, the interior department was Discovery Dist Seagrams 34.75 40.75 Dom Bridge 21.00 2.04 Domtar publishing today an invitation DETROIT (AP) Cadillac Dom Stores 17.75 for oil companies and the Division of General Motors Dome Pete 25.00 26.B7M. Dofasco 24 25 public to propose specific plans to begin production Glen Mobile 155 tracts for oil and gas-leasing March 24 on a new compact Gtant off the shores of New Jersey, luxury car to debut May 1. Qrt Cdn Oil Gen Motors 3500 1.12 Great Lakes Paper 16.25 .Delaware, Maryland, and In its first official announce- "STaty MSS A Virginia. ment on the small car, 'the Hydra Gulf Oil 2B.75 1 5.75 Greyhound 1 4.50 .62 Hawker Sid 5.12M Byrne said the .interior firm said the mode! will make Hiram Walker A 39.50 secretary assured the state of up 20 per cent of total Cadillac Joiiei Huron Erie 24.75 Imperial Oil A 26 50 New Jersey several years ago ouput when full production is Uerr Addison there would be no call for such reached. Imasca A 28 25 Int Nickel offshore nominations until the Although Cadillac 'has not Lake Int Pipe 14.25 3.70 Inv Grp A 7 00 Supreme Court settles a dis- yet disclosed the car's name, IU Int'l 11.12V4 pule over offshore jurisdiction industry sources report it will Maiartic (AC Ltd 19.50 1.15 Jannock 5 between the federal govern- probably be called Seville, JJJJJ, Kaps 215 ment and Atlantic Coast possibly spelled se'Ville. Kel Douglas A 5.25 .11Vfc Lauren tide B 12V4 states. Cadillac Division sales were Loeb 3-25 The Supreme Court is up 18 per cent in January, al- NuWest Homes scheduled to hear oral though GM as a whole was New Loblaw A 5.87V4 Metropolitan 14 00 -21 Massey Ferg arguments in the case later down 5.5 per cent. McMIII Bloed 24.62% this month. The new luxury compact Moore Corp 43 00 3.90 Molsons A 17.50 "We will ask the courts to will be built on the same size Molsons B give us a ruling as to whether body as the Chevrolet Nova Placer Nachurs 8.12W 15.37% North Cent 11 12Vz the secretary is within his and its sister models at Buick, Peyto 3.70 rights" in seeking Oldsmobile and Pontiac, GM Power Corp 9.00 1.00 Price Co 13.62% nominations now, Bvrne said sources say. Rothmans 10 50 J Rio Shell CDA 14.75 ___ Roman Simpsons 825 Sherrilt 6.25 Simp Sears 10.50 H V K Bji7 Steel Can A 2762% 3.80 Selkirk A tall 2.90 Texaco 31.00 19 Trad Grp A 13 00 7.62% Trans Mtn Pipe 10'.75 WH Coooer Mines FRONTIER CONSTRUCTION LIMITED Trans Can Pipe 10.87% 1-65 Union Carbide 18.37% 1.25 Union Gas 875 1.55 Union Oil "825 .11% United Siscoe 3.BO Yellowknlfe Versatile Mfg 712% Zenmac Butler Building Franchise, sales, design and erection Westeel Westons 22 50 at Swift Current, Saskatchewan, has an immediate Woodwards A 21.50 20.12% BANKS opening for a Algoma Can Imperial 25.75 Atco Montreal 'Agra Nova Scotia 39.50 CONSTRUCTION York applicant wll, nave In depth experience in the con- (Supplied by struction industry. Experience in all or mosl of the areas desirable: Tendering, Building Proposals. Estimating, Contract Amr. T 8 Woolworth 13.37'A Management, Field Supervision, Administration, and Sales. Westinghouse Elec 11.50 Salary. Iringe benefits, and participation commensurate with Beth 62VS U-S- Steel 48.25 experience and ability. Gen Tel Elec 21.25 Reply in confidence giving a complete resume of your education Comsat and experience. Please state salary required and approximate Dupont dale you would be available. General TORONTO AVERAGES 96.00 Industrials 180.04 down 1.02 3S.37V, Golds 407.55 up .22 Apply to: 1u Base Metals 66.77 down Int '5 Western Oils 155.31 down 1 93 Kenn Volume 915.000 DURA STRUCTURES LTD. NEW YORK AVERAGES 59.00 20 Industrials 706.19 down 2.18 Box 1984 12'A 20 Rails 157.73 down .04 V Regina, Saskatchewan J S 15 Utilities 80.96 down .41 24 50 65 Slocks 227.50 down .61 1 1 oo Volume Enrt roil FOUT MACLEOD On offer by Fort Macleod Auction Market last week were 968 cattle and calves. The market was lower than fast week on slaughter classes with feeder kinds under pressure ?3 depending on quality. Stocker weight steers and heifers fell in line with the feeders except For plain kinds showing dairy strain which were difficult to move at any price. SLAUGHTER Aland A2 steers 1.050 to pounds 37 to 38.50; 920 to 970 pounds 34 to 35.25: Al and A2 heifers 34 to 35.20, odd sales over 36; Cl and C2 heiferettes 25 to 29; Dl and D2 cows 18.50 to 21, sales to 22.50; D3 and 04 cows 12 to 15; shelly kinds down to 6. STOCKERS AND FEEDERS Steers: 850 to 970 nounds, good 32 to 33.10, medium 30 io 31; 600 to 775 pounds 31 to 33; 400 to 550 pounds good Heifers: 450 to 530 pounds good 24 to 28, medium 18 to Z2, plain 10 to 16. _ C8lQ8ry CALGARY (CP) Receipts to 11 a.m. Tuesday at the Calgary stockyards: head, mostly slaughter cattle. Trade was dull on steers, moderate on heifers, active on cows and bulls, Al to 2 steers sold under pressure at lower at a narrowing demand. Al to 2 heifers sold lower, meeting a moderate demand, Dl to 2 cows met a good demand at ?l higher with D3 to 4 50 cents higher. Bulls sold steady Steers 'Al to 2 34 to 35.60, A3 32.50 to 34. Heifers Al to 2 33 to 34.70, A3 32 to 33. Cows Dl to 2 20.50 to 22, D3 19.50 to 20.50, D4 17.50 to 19.50. Bulls 18 to 21. A few good packages of feeder steers over 750 pounds sold at 31. Hogs to 11 a.m. average base price 52.50. Currencies MONTREAL (CP) Tuesday's mid-day foreign exchange selling.rates supplied by the Bank of Montreal: Bermuda dollar 1.01QO China renminbi .5650 Denmark kroner .1830 France franc .2350 Germany mark .4320 Hungary forine .0418 EDMONTON (CP) Prices to 11 a.m. Tuesday provided by the. Alberta Hog Producers' Marketing Board, Monday's prices in brackets. Edmonton 52.55 Calgary 52.50 Red Deer Nil Letlibridge Nil Fort Macleod Nil Hogs sold to 11 a.m. 686. Hogs sold Monday average 52.55. Sows' average 35.10. nriCfiS IwvO P) Wheat board domestic feed grain prices Monday: 3 CW red spring wheat No. 1 feed barley 2.12Vt; No. 1 feed oats 1.83'A. Winnipeg grain WINNIPEG (CP) Prices con- tinued to suffer modest losses through mid-session Tuesday in moderate ac- tivity on the Winnipeg Commodity Ex- change. Oilseeds were down as much as eight cerfts a bushel, but most other com- modities dropped only slightly. Monday's volume of trade was 000 bushels of feed wheat, of oats, of barley, of rye, of flax, of rapeseed and nil of corn. Mid-session prices: Thunder Bay rapeseed: May four lower 6.80A; July five lower 6.80A; Oct. three lower fi.72A; Nov. not open. Vancouver rapeseed: Mar. five lower June five lower 6.94; Sep. eight lower 6.77A; Nov. unchang- ed 6.66A- Flax: May one lower 8.59; July, Oct., Noy. not open. Feed wheat: May V-i lower July unchanged 3.73A; .Oct. not open. Corn: Mar. un- changed May and July not open. Barley: May 1% lower 2.70'A; July and Oct. not open. Oats: May one lower July Oct. not open. Rye: May lower 2.63S-6B; July three lower 2.60B; Oct. VANCOUVER (CP) Prices were down in light trading at the opening Tuesday of the Vancouver Stock Ex- change. Early volume was shares. fn the industrials, Canterra was un- changed at .39. In the mines. Arcadia was unchanged at .19. In the oi s, Stampede was unchanged at .66. Curb exchange volume was shares. Mark V was down .13 at Prices were mixed Monday n moderate trading. Closing volume was In the industrials, Canterra was the leader, up .05 at .39; Ncwrriark was down .12 at Renn Industries down .06 at .64; Internationa Hydrodynamics unchanged at .40; Block Bros, unchanged at S3. 10; Sarato6a A uncnanged al W5 In lhe Granliora M at 42. CMass iavm 02 al 52; Up .02 at .46; Consolidated Fortune .Channel down .02 at .15; Skaist up a naif cent at. Tyee Lake down .02 at 03 In the oils. Stampede unchanged at -86; Payette International down .01 at -15; Seneca down .08 at Davenport- was up .01 at .71; Monterey A was down .02 at .12. Plains Petroleum un- changed at .12. Closing volume on the curb exchange was shares. Most active of the curbs was Consolidated Monarch, down .0214 at Mundee Mines un- changed at .3214; Petrowest unchang- ed at .60; Dorchester up .02 at .20; Abaca Resources down .04 at .39; T.R.V. Minerals up .01 at .51. NEW YORK (AP) The stock raarket was moderately lower Tuesday, recovering part of a sharp early loss in a session closely geared to developments in the short-term money The Dow Jones average of 30 in- dustriais, off more than 6 points iu the early going, was down only 2.27 at 706.12 by noon. Losers maintained a 2- _ CHICAGO (AP) Farm commodity futures fell sharply on exchanges in midwcstern United States on Monday, but prices on eastern markets were largely mixed. Soybeans fell about 13 cents a bushel, while soybean meal was down a ton and soy oil lost around 60 points. More than lk cent a pound. Corn futures were down almost live cents and wheat about three cents. Oats were mixed. Pork Belly futures, which have been very much in demand for a dozen sessions, fell the limit of 150 points, partly on the weakness in grains and also because of some uneasiness in cash prices. Live hogs fell up to BO cents, while live cattle closed 35 cents a hundredweight lower to 20 cents higher. Shell eggs lost almost 100 points, or one cent a dozen. Gold futures on the Board of Trade and the Mercantile Exchange declined to on weakness in the United States dollar abroad, as well as a selloff in the cash price of gold in Lon- don. Silver futures fell about 12 to 14 cents an ounce in Chicago and New York, mainly because of the weakness in gold and very thin demand. Orange juice futures also were down, losing about 100 points. Cotton futures were generally steady in light trade. World sugar futures rose by two cents a pound in very active trade that was kindled by foreign purchases of sugar in world markets. Cocoa futures rose by 100 points and copper 50 points. At the close of grain trade, soybeans were seven to 113 cents a bushel lower, March, 5.99; wheat 'A to 2% lower, March, corn 3% to 4% lower, March, 3.09; and oats lower to 14 higher, March, Grain quotations Monday: Wheat: Mar May 3.95; Jul Sep 3.87; Dec 3.95. Corn: Mar 3.09; May -Ju! Sep 2.98; Dec 2.81. Oats: Mar May 1.57; Jul Sep Dec h g M m- 859 Oij N i. H Th H H MaV 686 RM C Cn sn. Co., year ended Dec. 31: 1974, a share; 1973, Canadian Ulililles Ltd., year ended Dec. 1974, a share; 1373, Copeland Process Ltd., year ended Dec: 31: 19M' 33 cents a share; 1973, nine cents. Mexico peso .0815 Netherlands guilder .4170 Spain peseta .0181 Sweden kroner .2535 Switzerland franc .4015 United States dollar 1.0045 United Kingdom pound 2.42 U.S.S.R. ruble 1.3545 Quotations in Canadian funds. 'Dollar value MONTREAL {CP) U.S. dollar in temis of Canadian funds at noon Tues- day was up 4-25 at U-25. Pound sterling was up 7-50 at 1-2. In New York, the Canadian dollar was off 4-25 at 14-25. Pound sterl- ing was off 1-5 at 9-20. Dividends By THE CANADIAN PRESS Canada Cement Lafarge Ltd., 15 cents, Feb. 28, record Feb. 18; cent pfd., 32.5 cents, March 20, record Feb. 20. Economic Investment Tnwt Ltd., pfd., 62.5 cents, Feb. 28, record Feb. 17. Fail-view Corp. of Canada Ltd., 10 cents, initial since in-corporation, Feb. RaneMed Vancouver S2 V, Corn basis "A Feed V, per share figures available; 1973, loss. Genstar Ltd., year ended Dec. 31: 1974. R06 a share; 1973, J2.52. Great Lakes Paper Co. Ltd., year ended Dec. 31: 1974, a share: 1973, S2.ll. Maple Leaf Gardens Ltd., year 51.05 a ui- 31 m, a share; 1973, 89 cents. Ltd., three months ended Dec. 31: 1974, a share; 1973, 73 cents The sterling Truils Corp., year ended Dec. 31: 1974, 90 cents a share; 1973, 90 cents. Teledyne Canada Ltd., year ended Dec. 31: 1974, M cents a Westcoast Transmission Co. Ltd., year ended Dec. 31: 1974, Chemicals Corp., 32 cents, U.S. funds, March 30, record March 13. Kraftco Corp., 48 cents, U.S. funds. March 10, record Feb. 21. Loblaw IDC., 10 cents, U.S. funds, March 1, record Feb. 14. Street prices Per bushel street prices Monday quoted by Country Elevator FLAX 1CW 7.96, 2CW 7.91, 3CW 6.46: RYE 2CW 2.14'4, 3CW 2.0914, 4CW 1.8414, Ergoty i 7214- RAPESEED 1 Canada 6.40, 2 Canada 6.15, 3 Canada 4.90. Feed Grains basis 43 cents CWT Thunder Bay freight rate. WHEAT 3CWRS 3.2814, 3 utility 3.0814; OATS -1 feed feed 1.42: BARLEY -1 feed feed 2.24Vi. Toronto Star Ltd., three months ended Dec. 31: 1S74, 34 cents a share; 1973, 33 cents. Uaican Security Systems Ltd., three months ended Sept. 29: 1974, four cents a share; 1973, n cents. _ U6t It Let US 8t Beny Chevrolet Oldamobile put VOU or in a flash-tor lass cash, No bother about main- tenance or insurance One car or a fleet, the Oshawa Connection can fix you up with any model you want. 2 doors, doors, economy cars, trucks. There's a leasing TLJC DCUDIflD 1 fit UDnHlMH PFlNNCrTf PN LUWIfltU 1 iUIJI Sit Biril KHHllMkOV ttwnfct MdSOMHe "It's who you know that counts." six-percent p Feb. 28, record Feb. 14. Monenco Ltd., 10 cents, plus an extra of 20 cents, March 3, record Feb. 14. WHEAT 3 utility OATS -1 feed 1.8514, 2 feed 1.8214; BARLEY I feed 2.75, 2 feed 2.7314. February 15th or Lease! sq. ft. building iiML'Miii'lilliililllllillilHllllil'H' i n HIM 11 n Jh_ Located in Two of proposed Downtown Scrwmt. Call 328-1705 Lethbridge or 253-7155 Calgary! (24 Hours) FIELD ;