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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 14, 1974, Lethbridge, Alberta Job with a view Dominic Narducci, 43, is a crane operator on top of Toronto's CN Tower, feet above the ground. Thursday was clear, and he could see Niagara Falls. But it's the night shift that offers the most spectacular view. Narducci, claims to see the lights of London, Ont., Guelph, Oshawa looking as close as Toronto Airport, Buffalo "and the lights of a big city to the east that must be Rochester, N.Y." U.S. may double wheat, grain sales to Mid-East WASHINGTON (AP) Sales of United States wheat and other grain to the Middle East, mostly to oil-rich Arab countries, may more than double this fiscal year, says an U.S.agriculture department analyst. Lower lumber prices predicted MONTREAL (CP) The price of Canadian lumber will decrease because of Steel price to be hiked TORONTO (CP) The Steel Company of Canada Ltd. has announced price increases averaging 7.8 per cent, effective March 11, for hot- and cold-rolled steel sheet and strip. J. P. Gordon, Stelco president, said the move reflects cost increases "on just about everything." Algoma Steel Corp. has said it will match the Stelco price increases, beginning March 10. Meanwhile, major steel mills in eastern Canada have raised the price they pay for No. 1 steel scrap to a ton, an increase of and for No. 2 scrap to a ton from recessions in the American and British markets, Jacques Bock, president of the Canadian Lumbermen's Association, said Wednesday. In a news conference at the opening of the association's 66th annual convention, Mr. Bock said a previous high worldwide demand had escalated lumber prices but current economic troubles will decrease prices. In the last two years "about 800 million board feet of extra a per- centage of some 15 per cent" has been added by the industry in Eastern Canada. But the new trend for the lumber industry "will make it a buyers' market, not a sellers' said Mr. Bock. When questioned about accelerating bousing costs, Mr. Bock said, "We aren't the only villain in the high cost of housing." He referred to escalated land and labor costs. Applications to grow new wheat available WINNIPEG (CP) Applications to allow grain producers in Saskatchewan and most of Alberta to grow Pitic 62 wheat under contract this year will be available next week at country elevators, the Canadian Wheat Board announced today. The production contracts are part of the wheat board's !part market development program for new utility wheat varieties. It is expected that up to acres could be seeded under the contract program. Market tests have shown that Pitic 62, a Mexican "dwarf" variety licensed for production in Canada in 1970, is acceptable to overseas buyers for both feed and food use. By offering extensive contracts in 1174, the wheat board hopes to encourage production of enough Pitic wheat for commercial marketing. Under a limited marketing program, Pitic currently is being offered for export as food wheat at more than a bushel. The wheat board, through the elevator companies, will accept contract applications on a first-come, first-serve basis for packages of or ISO acres. Each producer is limited to a maximum of 190 acres. If sufficient applications are not received by March IS, the wheat board may decide to offer additional, larger contracts. are assured of delivery of bushels of Pitic 62 for every SO acres giwwii under contract. Pitic produced under this progiaiu must grade either No. 1 or X Canada utility, and be IS-per- cent puie. Producers win receive the initial price for utility wheat prevailing in the 1174-75 crop year, as well as any final payment available at the end of the crop year. John Parker of the depart- ment's economic research service said tensions from the Mideast war last October and the Arab oil embargo have had no visible effect on shipments. He said exports may total a record million this year. Further, he said in an inter- view, soaring prices of U.S. grain have not deterred pur- chases by such countries as Egypt, Iraq, Saudi Arabia and Iran. The new export estimate by Paiter is up sharply from the million predicted last fall for the year ending June 30. In 1972-73, sales to the region totalled million. Part of the increase is due to higher prices, but quantities also are up. He said poor harvest in some countries the last year or two have helped boost import needs, but he also believes the region is so rich that it could be developed into an important steady market for U.S. food products. Export figures compiled by the department show that in the first half of the fiscal year which began last July 1 wheat shipments from dwindling U.S. reserves have jumped phenomenally. Egypt, for example, received 4.9 million bushels worth million during July-December, compared with none in the last half of 1972. Iraq was the largest purcha- ser, also rising from none a year earlier, to 7.2 million bushels at a value of million during the six months. Lebanon, Jordan and Saudi Arabia also were up significantly. Those are all cash transac- tions made with private com- panies which drew on U.S. wheat supplies. No U.S. credit currently is being extended to Arab countries for farm com- modities. Canadian dollar hits new peak TORONTO (CP) The Canadian dollar shot op today to its highest point in relation to the United States dollar in IS years, hitting 102.M cents U.S. in early trading before levelling at about cents. The last time it reached such levels was in 1S50. After the Canadian dollar was freed to float in mid-1170 it rote to a high of 10274 briefly in June, It closed Wednesday at 102 60, up from 102.21 Tuesday, continuing a strengthening trend that started early this year. The Herald Thursday, February 14, 1974 THE LETHBRIDQE HERALD Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Lunitec" WESTERN OILS AND MINES Afton Mines 9 00 Albany Oil 68 Almmex 6 Asamera Ashland Oil Alta East Gas 6 BP Canada 14 75 Brenda Mines 7 50 Can Southern 5 50 Cdn Exp Gas 3 15 Cdn Homestead 6 3TA Cdn Ind Gas 9 25 Cdn Long Island 23 Chieftan 9 75 Cdn Superior 56 00 Dome Pete 39 50 Dynasty 9 Fort Reliance 30 Giant Mascot 2 25 Gibraltar Mines 11 62V: Granisle 8 50 Great Plains 28 75 Gt Cdn Oil Sds 9 75 Lochiel Exp 2 89 Lytton Minerals 1 46 Noble Mines 95 North Cdn Oils Numac Pancdn Pete 12 Pan Ocean 16 Petrol 184 Pinnacle 21 Vi Place Gas 50 Ponder 51 Ranger Oil 42 00 Scurry Rainbow 20 50 Seibens 17 25 Spooner 41 Total Pete 7 Ulster Pete 1 35 United Canso 21 37V: WC Pete 6 00 West Decalta 7 25 MISCELLANEOUS INDUSTRIES Acres Limited 1050 Aquitame 27 50 BC Sug A Pfd 14 25 Block Brothers 3 80 Cdn Pac Inv A Pfd 34 00 Com Cap Corp 2 30 Carlmg O Keete A Pfd 23 6ZV4 Carlmg O Keefe B Pfd 28 50 Crestbrook For Ind 8 25 Crowsnest Indus 27 00 Falconbridge Cop 12 50 F- and M Trust Co 5 25 Genstar 17 25 Glob Com Units 38 00 Home Oil A 48 Home Oil B 45 00 Hud Bay Co Hud Bay Oil 43 75 Hud Bay Oil A Pfd 50 00 Hugh Rus C Pfd 57 00 Husky Oil 20 00 Husky Oil B Pfd 39 62Vz Husky Oil D War 5 50 Husky Oil E War 8 87'A Hys of Canada 3 20 Int Pro Pipe War 6 Int Pro Steel 15 25 Kaiser Resources 4 50 Loblaw C Pfd 21 25 Magnasonics 5 25 Pacific Pete 32 25 Pac West Airlines 7 Pe-Ben Oilfield Services 6 37V4 Rainier Inc 3 Royal Trust Sandwell Teledyne Trimac West Cdn Sd Proc Wcstfield Minerals Weston A Pfo White Yukon 2675 575 490 675 350 1 28 59 8.50 PIPE LINE STOCKS Alta Gas Line A 1200 Alta Gas Line Pfd 63 00 Alta Nat Gas 18 25 Inland Nat Gas 9 75 Gaz Metro 6 25 Gaz Metro A Pfd 65 00 N and C Gas 1225 N and C Gas B Pfd 23 50 Pacific Gas Trans 10 50 Tr Can Pipe 32 Tr-Can Pipe A Pfd 61 00 Tr-Can Prpe B Pfd 36 00 Tr-Can Pipe War 4 75 WC Trans 24 50 WC Trans WtS 4 20 CALGARY Acroll 73 Barons Oils 15 North Contm I 03 West Warner 30 VANCOUVER MINES Atlas Explor 35 Bath Norse 1 42 Dankoe 3 75 Davenport 61 Dolly Varden 55 Equitonal Res Lornex 9 70 Northair Mines 4 15 Primer 16 Pyramid 14 Silver Standard 2 28 Valley Copper 9 75 INDUSTRIALS Colum Brew 3 05 Key Indust 14 Wardair 1 52 OILS August Pete 67 Plains Pete 20 Pond Explor 75 Stamp Intl Res 81 MUTUAL FUNDS All Cdn Compound 6 25 6 79 All Cdn Dividend 6 61 719 All Cdn Ventures 346 376 Amer Grow F 4 43 4 87 AGF Special 2 36 Cdn Invest F 4 86 5 32 Common Inter 1347 1347 Com Leverage 3 14 3 14 Com Venture 5 56 5 56 Corp Investors 6 23 6 85 Corp Invest S F 4 72 5 19 Dreyfus Fund US 10 18 11 16 Grpd Income 300 329 Grow Equity 719 790 Invest Grow F 1182 1292 Invedst Mutual 5 63 615 Mutual Accum 5 92 651 Mutual Grow F 310 341 Nat Resources 4 80 5 27 NWCdn 518 569 NW Growth 4 34 4 77 Principal Grow 4 36 4 79 Provident Mutual 7 33 8 01 Royfund 6 68 6 95 Templeton Grow 7 14 8 15 United Accum 4 43 4 87 Univer Savings 7 87 8 65 Vanguard 5 68 6 22 Toronto mines, industrials (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 Com Lake Cocfienour Craigmont Drckenson Mines Denison Mines 0 Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Mantimes Giant Y K Granduc Hollmger Hudson Bay MSS Hvdra Ex Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen RL. Malartic G F Martin McNeely Maclntyre Mela Midnm Intern Mogul Nu West Homes New Athona New Calumet Noranda Nortrigate Norlex Pine Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Shernjt Gordon Steep Rock Sunrnngdate Tek Corp A Texmorrt United Canso Western Mines WH Copper Mmes Wnghl Margreaves Windfall Yeflowflcrarte Bear Zeronac INDUSTRIALS Ability) Atean Mgoma Steel Aloo Ind JarmoCk Agra Ind Ben Srascati A Tel 1 Forest Sugar A Valley Ind Ind 0 Keefe 5 Cellulose 375 Power Coron Credit Gas Pfd 1 Industries Marconi Vickers Bathurst Gas 49 Seagrams Dom Bridge 1 Textile Stores Pete Mobile Cdn Oil Sands Motors Lakes Paper Oil Cda Sid Walker Erie Oil Nickel Group A Intl Accept 61 Doug A A 1000 Ferg McMillan Bloed Corp A B Cent Corp Co CDA Sears Canada A Grp A Mln Pipe Can Carbide Gas Oil Stscoe 18 Mlg WesJeel A Cdn Seed Etec Impffnsl Scotia 4037 Own 5000 1337% 1875 2025 26 62% 1575 950 390 525 612% 2350 220 1037% 1775 325 1700 1700 1537% 3350 2650 1700 41 75 41 00 2400 10 12% 1325 3925 30 12% 700 975 4800 2400 3275 1725 512% 5025 27 12% 3925 2900 2100 825 1675 1850 450 550 1050 355 600 12.00 1587% 3075 4750 22-75 2100 750 1225 1050 14 37% 912% 1475 19.25 775 1150 31 87% 31 87% 4550 14 87% 15 12% 32-75 1662% 900 13 OO 887% 625 21 87% 2062% 2100 345 260 2937% 2000 3837% 36.50 New York 'Supplied by fUckardmi Securities of Caudal Atnr 1ST Anaconda General Molars Girtf Harvester Kerm Copper MoTrtgomery Ward Sears Texas Gitff Texas Co Wix Corporation 51 12% Woolworth 1662% 1325 Etec 2100 3150 US Steel 1762% Gen Tel Sec 2500 32 75 TOftOMTO AVERAGES 156 75 20 (mJustnSIs 212 77 up 50 4950 20 Golds 56784 up 540 21 87% 10 Base Meials 10736 up 68 24 75 15 Western OHs 253 15 up 1 97 39 00 Volume 2 083 000 21 12% NEW YORK AVERAGES 84.25 20 Industrials 810 46 up 359 80 25 20 Rails 182 K up 1 54 33 75 15 93 30 up 58 27 75 65 Slocks 261 57 up 1 38 13 00 Volume 7 670 000 Market prices higher in active TSE trading TORONTO (CP) All sec- tors of the Toronto stock mar- ket were moderately higher in active mid-morning trading today. The industrial index, consid- ered the main indicator of market trend, was up .61 to 212.88, golds 5.96 to 568.40, base metals .64 to 107.11 and western oils .64 to 251.82. Volume by 11 a.m. was 1.34 million shares compared with 1.22 million at the same time Wednesday. MONTREAL (CP) Prices in all sectors but utilities moved higher in light trading on the Montreal Stock Exchange today Volume at 11 00 a m was shares, compared with 407 800 at the same time Wednesday Banks rose 1 85 to 278 83 papers 70 to 130 20, the composite 58 to 221 13 and industrials 54 to 23669 while utilities remained unchanged International Nickel rose to Pan Ocean Oil fc to Bell Canada V Apr7414700B Jly7415300B Oct 74 159 20B Jan7516550A Apr 75 171 00 Tuesday s volume 456 contracts Currencies MONTREAL (CP) Thursdays mid-day foreign exchange selling rates supplied by the Bank of Montreal Australia dollar 1 475 Bermuda dollar 1 02 China renminbi 4910 Denmark kroner 1600 France franc financial 1980 Germany mark 3660 Italy lira commercial 001540 Japan yen 003380 Mexico peso 0805 Switzerland franc 3100 United States dollar 9795 United Kingdom pound 2 25 USSR, ruble 13395 Quotations in Canadian funds Gold prices LONDON (AP) Wednesdays closing gold prices in U S dollars an ounce London-144 00 Pans 149.22 Frankfurt 146 00 Zurich- 14700 Hong Kong HI 00 Beirut-4 603 a kilo JDatatron QC 1003 4th AVMIVC S Utophww 'ervtces SMART EXECUTIVES BECAUSE... can be expensive than buying Leasing ia lima saving and convenient Laaaing aimplifiaa your lax No caah investment required Tov the cotwplsfs fsds of) leesififl corrtscS KOftCSHEMKOV, twrtnf end BENY CHEVROLET OLDSMOBILE LEASING AND INSURANCE DIVISION 2nd AVE. and Sth STREET S. Phono 328-1101 ;