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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 16, 1974, Lethbridge, Alberta Mufdtf. ntnivy UTHMIOOe The Herald Business Gold shares still volatile By SANDRA INGALSBE Canadian Press Staff Writer Canadian stock markets closed a generally dull week with modest gains. Golds -were again traded actively but moved sharply lower. Despite record prices for gold bullion, profit-taking claimed much of last week's strong advance in gold stocks. The Toronto gold index Tuesday had its largest drop on record, falling 31.1 points. Analysts say that a speculative gold boom is in progress and gold shares may continue to be more volatile than bullion prices themselves. Observers also said that there was some switching from gold stocks into gold bullion trading due to a feeling that holding gold carries less risk than shares. The Toronto gold index, which gained almost 75 points last week, was off 45.37 to 547.44. 'Volume of industrial issues picked up late in the week as reports of higher corporate earnings stimulated some buying. The Toronto industrial index, considered the main indicator of market trend, was up 2.81 to 214.83. At Montreal, the composite index rose 2.25 to 224.18. Despite the relatively lacklustre trading on markets on both sides of the border, Canadian markets again out- performed New York. Observers attribute this to increased buying of Canadian issues by U.S. investors since the removal of the U.S. equalization tax and the fact that Canada is less affected by the energy shortage. Trading was light at New York as investors stayed on the sidelines awaiting news on the Arab oil embargo. The market gained sharply Friday on anticipation of progress in meetings this weekend between State Secretary Henry Kissinger and ministers from Arab oil producing countries. The Dow Jones average of 30 industrials closed the week at down .14. Toronto's western oil index was off 137 to 256.35. Shares of companies with North Sea interests have been battered.recently as a result of fears of nationalization by a labor gov- ernment, but some recovery was seen late in the week following indications that the Conservative government has a strong chance of staying in power. Toronto's base metal index rose 1.29 to 108.36. Trading was fairly active at Toronto this week with 22.16 million shares changing hands, down from 22.39 million fast week. Value was million compared with million. At Montreal, 7.01 million shares were traded for a value of million, compared with last week's 6.83 million and million Bonds Lloyd E. Gedlamin Lloyd E. Gedlaman, son of Earl and Lila Gedlaman of Taber has recently the course and comprehensive examination re- quirements for a Master of Art- Industrial Education degree. The degree will be awarded, at Arizona State the May graduation exercises to be held at the Tempe, Arizona campus. Mr. Gedlaman, who graduated from Taber High School served a mission in southern .Australia for the Church of Jesus Christ of Latter-day Saints (1960- and was awarded a Bache- lor of Science degree by Brigham Young University, Provo, Utah Currently residing in Scottsdale, Arizona with his wife and two children, Mr. Gedlaman is employed by Western Electric (Phoenix) Bell Telephone System and is involved with the installation of central office switching equipment for the com- pany. GOVERNMENT OF CANADA BONDS Oct. 98.30 98.40 8 Jul. 103.50 104.00 Sept 81.37V4 Sept 79.00 79.50 3 Sp15Perp 38.00 40.00 "614% Apr. 99.90 100.00 Jul. 100.75 100.85 PROV. AND PROVINCIAL GUARANTEED BONDS Alta '90 102.00 102.50 Ont 7 '88 88.50 89.50 OntHyd 9 '94 104.00 105.00 N B '90 105.00 106.00 Nfld 8 '74 99.50 100.50 N.S. '92 81.00 82.00 Que 73A% '74 99.00 Alta '90 102.50 103.50 Man Hyd 8 '91 94.00 95.00 Sask '90 101.50 102.50 Nfld 9Vi% '90 103.50 104.50 AGT '74 99.00100.00 ManGT 8 '74 99.00 100.00 INDUSTRIALS AGasTr '90 101.00 103.00 Alcan 9H% '91 101.00 BCFor '92 102.00 104.00 BCTel '90-101.00 103.00 Bell Tel 79 101.00 103.00 Bell Tel 9H% '93 103.00 105.00 CP '89 .99.00 CPSeo '90 101.00 CdnUtil '91 103.50 CWNG '90 103.00 Gulf '90 99.50 PrPipe 9H% '90 101.00 Massey 'SO 101.00 Noranda '90 100.50 Intl Nick "90 101.00 103.00 '91 102.00 104.00 Steel Cda 9'A% '90 102.00 TrCda Pp '90 103.00 TrCda Pp 10 '90 104.00 106.00 W Trans '93 94.50 95.50 CONVERTIBLES AIGasTr 714% '90 122.00 Con Gas 514% '89. 85.00 87.00 Acklands '88 101.00 105.00 ScurRain 7'A% '88 92.00 94.00 Trans C '88 86.00 WeStTr 714% '91.110.00 112.00. Ottawa OTTAWA (CP) Receipts of slaughter cattle deciiaed by about 5.MO at public stockyards this week, with about 14.800 ottered. In its weekly livestock report Friday, the federal agriculture department blamed a narrow demand for steers and heifers in Toronto on VS. imports.' A-l and A-2 steers and heifers in Toronto declined about in mid-week, with western prices fl to lower. A good demand prevailed in Toronto for D-l and D-J cows in Toronto, with prices steady to higher. Western prices were tower to 50 cents higher. Vealer calf prices were steady in most centres, although Montreal reported increases of in early trading. Receipts of feeder cattle and calves declined more than with about 10 000 offered. Prices declined generally in a demand- Sheep and lamb receipts were an increase of 400. Good demand in most centres produced increases of in Toronto, steady prices elsewhere and a 50-cents increase in Calgary. Inder 100 hog prices were uneven. Prices fell slightly in the east and rose by up to 12.50 in the west. STOCKYARD PRICES Slaughter cattle, steers A-l and A-2: CalBary 48-49.SO; Saskatoon 48.40; Winnipeg 4849; Toronto 48-50 Heifers, A-l and A-2; Calgary 42.50- 43.80; Saskatoon 42-43.25; Winnipeg 42- 43; Toronto 44-46. D-l and D-2 cows: Calgary 34.50-35; Edmonton 32.50-34-. Saskatoon 31-34; Winnipeg 33-34; Toronto 35-37. Slaughter calves, good and choice veal: Winnipeg 65-75; Toronto 5342; Montreal 65-74. Feeder steers more than 750 pounds: Calgary 4047.75; Edmonton 44-49; Saskatoon Winnipeg 4448; Toronto 47-51. Feeder steer calves 401-575 pounds: Edmonton 46-53.50; Saskatoon 32-50; Winnipeg 4448; Toronto 53-61. Good lambs: Calgary 38-39.50; Saskatoon 36-38; Toronto 4648. Index 100 hogs dressed: Calgary 465547.55; Edmonton 46.7547.70; Saskatoon 4646.40; Winnipeg 46.75- 48.80; Toronto 52.55-54.60; Montreal 52.36-53.73. Egg EDMONTON (CP) Weekly egg and poultry report issued by the federal agriculture department: Livestock Perlldi There were l.OM bead of livestock sold this week at Perlich Bros. Auction Market Ltd. Receipts included 542 cattle and 556 bogs. Cattle market was steady on most feeder classes. Plain quality feeders and bull calves are meeting buyer resistance. Demand was moderately active from local feeders and order buyers. SLAUGHTER CATTLE Al and A2 steers-- 46 to 46.50. Al and A2 heifers 39.60 to 40.80. Dl and D2 cows 31 to 33.50. D4 cows 25 to 30, Shelly cows 20 to 25. Butcher bulls 38.50 to 41.60. REPLACEMENT CATTLE Steer calves 250400 Ibs. 48 to 52.25. Steer calves 400-500 Ibs. 48 to 53 50 Plain quality steer calves all weights 42 to 47. Feeder steers under 800 Ibs. 47 to 50.25. Feeder steers over 800 Ibs. 44 to Bantings By THE CANADIAN PRESS Aquttaine Co. of Canada Ltd., year ended Dec. 31: 1973, a share; 1972, 96 cents. Cominco Ltd., year ended Dec. 31: 1973, million, a share; 1972, million, Northern and Central Gas Corp. Ltd., year ended Dec. 31: 1973, a share; 1972, Northern Exploration Ltd.. year ended Dec. 31: 1973, a share; 1972, 51 cents. Orchan Mines Ltd., year ended Dec. 31: 1973, 73 cents a share; 1972, 55 cents. Quebecor Inc., three months ended Dec. 31: 1973, 34 cents a share; 1972, 30 cents, Scurry-Rainbow .Oil Ltd., three months ended Dec. 31: 1973, 22 cents a share; 1972, eight Heifer calves 250400 Ibs. 38 to 40. Heifer calves 400400 Ibs. 39 to 42. Plain quality heifer calves 35 to 38. Feeder cows 27 to 32. HOGS, DAIRY CATTLE Market hogs dressed weight 46.90 to 47.75. Good weaners -19 to 27. Light weaners 9 to 15. Feeders over 100 Ibs. 38 to 59.75. Bred sows and gilts 97 to 132. Light calves 100 to 115. Finning Tractor and Equipment Co., six cents, March 1. record Feb. 20. Ford Motor Co. of Canada Ltd., 85 cents. March 15, record Feb. 22. Harding Carpets Ltd., class A and C, seven cents; class B and D, 5.9 cents; both payable April 2, record March 15. Laurentlde Financial Corp.. 12% cents; pfd., 50 cents; pfd., 35 cents; all payable March 31, record March 8; S1.2S pfd., 31V. cents, March 1, record Feb. 15; 6% pfd., 31V4 cents, April 30, record April 10. Molson Companies Ltd., class A, 20 cents; class B, 20 cents; class C, 17 cents, initial since rectification; class D, 17 cents, initial since rectification; all payable April 1. record March 4. Peoples Department Stores Ltd., five cents, March 29, record March 15. Trans Mountain Pipe Line Co., 30 cents, March 31, record March 5. Winnipeg grain WINNIPEG (CP) Trading was mixed and generally unsettled in rapeseed Friday on the Winnipeg Commodity Exchange, while rye worked steadily higher and flax levelled off after earlier gains. Though opening with near-limit .gains, rapeseed famed sharply lower after mid-session to close near previous levels or slightly lower. Flax also opened with near-limit advances, but these were trimmed and the commodity finished the week with only slightly stronger prices. Rye opened fractionally to slightly higher and finished as much as 15 cents higher on a broad demand. At the close, flax was 7% to 12 cents: higher, Vancouver, rapeseed higher, to two lower, Thunder Bay rapeseed one lower to six higher and rye 15 seven higher. Thursday's trading volume was bushels of flax, of rapeseed and of rye. Thunder Bay export wheat prices all were up cent. Grain quotes Friday (basis High Low Close Flax May Jly 1173 113S 1165 1127 Oct 1080 1073 Nov Rapeseed Vancouver 1128% Mar Jim Sep Nov 751 723 May Jly Oct Nov Rye May Jly Oct Dec 725 712 340 329V< 744 715% 679% 713 701 328% 318 1073 1048 745 716% 675% 713 701 619 612 340 329V. 290 280 Chicago Registered Retirement I Savings Plan'B' Now at HIGH INTEREST TAX SAVINGS PLAN "A1 KB AMiistntioi Chirps SELF ADMINISTERED NOMINAL FEES Fm FARMERS MERCHANTS TRUST 309 7th St. St Lethbridge Phono ttt-SSU H you are unable to got to our office during regular burtMM pteaaa can and we will arrange a tbno to dttcuu the opening of a plan for you. CHICAGO (AP) Grain and soybean futures prices moved sharply higher Friday on the Board of Trade. After advancing the limit higher for March and May contracts Thursday, wheat again surged forward to set seasonal highs. The two nearby contracts again closed the limit higher. An underlying optimism about wheat exports and the general inflationary climate appeared to be the prime factors in the strength of that grain. Alberta grain EDMONTON (ACN) Wheat and oats again'generally south, but it quite evident that the latest Canadian wheat board domestic price increase wi'barleyMs not yet reflected in the country. The range of prices from Lethbridge and district are: wheat 13.35 oats and barley Medicine Hat Brooks buyers report as new high for the province on wheat as foUowsTwheat oats -11.70 and barley ttSO. The Calgary reporter advises wheat and barley Prices quoted for Red Deer and district are. oats and barley SU5 Vermilion reports wheat weakening slightly as follws: wheat oats and barley 8 No change in Edmonton and district prices with wheat -J3.W and barley Peace River area prices also remained constant with wheat 75. oats and barley Soybean oil advanced the one-cent-a- pound limit shortly after the opening and remained strong. The March and May options dosed the limit higher. Soybean meal also moved higher, but not as dramatically as oil. Soybeans opened mostly five or six cents higher and retained much' of that strength. It was much the same for corn and oats which stayed mostly two to three cents above Thursday's dosing prices. At the close, wheat was up to the limit higher, March 6.3H4; corn about 3 or 4 cents higher, March 3.1U4; oats a couple of cents higher. March 1.70% and soybeans mostly 5 to 6 cents higher. March 6.47. Beginnings Steel superstructure has started to rise for 72-storey First Canadian Barik Tower in Toronto. The building will be the Ontario headquarters for Bank of Montreal when it is completed in early 1976. Gold futures WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg, Commodity Exchange close Friday. Apr 74 153.00B; Jly 74 160.00A; Oct 74 167.00A; Jan 74 173.50A; Apr 75 177.50B. Thursday's volume: 287 contracts. Beef futures WINNIPEG (CP) Live beef futures close Friday. Mar 51.00A; May 53.60B; Jly 54.50A; Sep 54.00N. Thursday's volume: 12 contracts. To producers: A large 71; A medium 68; A small 50; B 51; C10; cracks 28. To retailers: A large 83-84; A medium 8041; A small 6549. To consumers (in A large 92-95; A medium 89; A small 75. POULTRY To producers: lave No. 1 chicken broilers, 6 and over, 39; 5 and under 6, Fowl under 4, 10-12. Turkey under 12, 47; 12 to 18, over 18, 45, Live No. 2 chicken 6 and over, 35; 5 and under 12, 44; 12 to 18, over 18, 43. Hog EDMONTON (CP) Average closing prices Friday provided by the Alberta Hog Producers Marketing Board, Thursday average in brackets: Edmonton: 47.63 Calgary: 47.92 Red Deer: 47.82 Lethbridge: Nil FortMacleod: .Nil Uoydniinster: Nil Total hogs sold average 47.77. Trizec Corp. Ltd., year ended Oct. 31; 1973, 64 cents; 1972, 58.1 cents. United Trust Co., year ended Dec. 31: 1973, 78 cents a share; 1972, 65 cents. Weyeel-Roico Ltd., year ended Dec. 31: 1973, a share; 1972, Whitehorse Copper Mines Ltd., year ended Dec. 31: 1973, profit, 62 cents a share; 1972, loss, 54 cents. H. H. Smith Ltd. Cuatoms Broker HNK 424-MK Office Phone 344-3822 Gold LONDON Friday's dosing eold prices in'U-S. dollars an ounce: London 149.09- Palis Frankfurt-HMS Hong Kong-142.85 Beirut kilo. HAVE YOU CHECKED OUT CANADA TRUST COMPANY Retirement Savings Plan? No Sales Commission No Withdrawal Charge No Locked in period No Redemption Fee On Early Withdrawal FOR FRIENDLY PERSONALIZED SERVICE CALL Doug Sutherland Cleve Hill Bruce MacKenzte MONTREAL (CP) U.S. dollar in terms of Canadian funds closed Friday unchanged to S0.97 2-5. Pound sterling In New York, the Canadian dollar was unchanged at 67-100. Pound sterling was up 1-10 at 7-10. FINANCIAL POSITIONS and senior financial positions open office and field operations. These Deer, created due to the growth of the company, .deally we are seeking candidates who have, a broad background in costing and financia ferabiy within the mobile home or industries. Candidates with other manufacturing experience win be considered. Mobility is a prerequisite for these positions asone vacancy is in Ontario and one vacancy in Alberta. Future potential for all successful applicants wm deoend upon an employee's willingness to accept Sers to enhance his value to the company. Excellent remunerations and employee benefits. WRITE BOX 103 Lethbridge Herald For 1 or 5 Year Term GUARANTEED SAVINGS CERTIFICATES Interest payable Monthly, Quarterly, Semi-Annually or Compounded to Maturity. Member Canada Deposit Insurance Corporation FWBCtStieCHWTS TRUST MS'SWS- the opening of a plan for you. Phone ttt-S54t thm to WRECKER FOR SALE! FuHf Equipped M-D-SOO 500 Wrecker MUSTSELU KING LTD. RIVIERA THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLOR TV ForTour Convenience in Making fteaerraftons CALL AND ASK FOR LONG DISTANCE ByBOBDUVAL KEY REALTY ft INSURANCE REALTOR OVER OR UNDER-SPENDING Some people spend more than they can afford when buying a house. Equally painful Is the mis- take of buying the cheapest possible house and men suffering through its shortcomings. I have no intention of stating how much anyone can afford for a house. This Is a very personal decision. There are guidelines o? monthly averages that lending institutions use tor housing expenses. like the charts printed on scales these are only averages. Don't hold back H you feel you can exceed these guidelines. When you are willing and sufficiently disciplined to economize on other expenses, you can get a better house than the average calls for. A good house may seem costiy, but the rewards are well worth investing in a house that's a little more expensive gives you an excellent inflation hedge while your whole family enjoys a belter place to live. And often, the resale opportunity is brighter. f mere is anything 1 can do to help you in the field of real estate, ptease phone or drop in alJKEY INSURANCE, 1524 tth Avenue South, Uthbridge. Phone 328-6671. Fm here to AUCTION MONDAY. FEBRUARY 25th 10.00 AJM. (MS.T.t EDMONTON ALBERTA 2 Miles ol City Litniit on Highway 16 Nonh Mitt. al W.meibutn TmnoH. S'W Phone TRUCKS. TRAILERS AND CONSTRUCTION EQUIPMENT FEATURING: (61 New J974 LW924 (4) 1973 Kenwottfi UW924 Tandem (21 (5) 1972 IW924 Tandem Leasing HI) 1971 (21 1971 KemTOith W924 Tanflem JM975 W923 Tanflem 111 1972 WhiM FitTSlMlmer TanSem 1J1971 Whrte FjiriJhiKnrr Tanflwn Tiaow (21 1971 Wfllodk 40-Ton Tandem