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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - February 21, 1973, Lethbridge, Alberta 28 - THE LETHBRIDGE HERALD - Wednesday, February 21, 1973 Moderate gains recorded on TSE TORONTO (CP) - Prices on the Toronto stock market recorded moderate gains in active mid-morning trading today despite sharp declines by west-em oil issues. The western.oil index was off .90 to 262.96. The industrial index, considered a major indicator of market, trends, was up .49 to 225,61, golds 1.73 to 225.13 and base metals .20 to 101.76. Volume by 11 a.m. was 788,-000 shares compared with 718,-0U0 traded by the same time Tuesday. Bank, communication, oil refining raid paper and forest stocks were among sectors of the market showing gains while construction and material, steel, trust and loan and food processing issues were lower. Declines were ahead of advances 125 to 119 while 226 issues were unchanged. Shell Canada rose iy2 to $53^, Bow Valley 1 to $40, Imperial Oil 1 to $43%, Ripley International % to $7 and Dome Pete % to $41%. Livestock Lethbridge Livestock On offer to 11:00 a.m. 200 cattle. Receipts practically all slaughter cattle. Trade strong and active. Slaughter steers meeting keen demand Prices 50 cents higher. The Mclntyre Ranching Company of Magrath sold 2 loads of Al and A2 steers averaging 1050 lbs. at $41.50 which is a record high. Slaughter heifers 50 cents to $1 higher. Cows $2 to $2y2 higher. Few replacement cattle on offer sold at strong prices. Steers: Al and A2 41 to 41.50. Heifers: 37 to 37.70. Cows: Dl and D2 31 to 33; D 3 29 to 33.50; D4 25 to 27%. Good hekavy feeder steers: 900 to 1000 lbs 41.50 to 43. Butcher hogs sold Tuesday Lethbridge 44.35 to 44.40 base price. Good lambs 33. Calgary livestock CALGARY (CP) - Receipts at the Calgary livestock market to 11 a.m. today totalled 1,250 head, mostly steers and cows. Trade was strong and active. Slaughter steers were fully steady to 50 cents higher;'heifers were steady; cows were fully steady with sales to 32.50; and bulls were higher with sales to 36 or more. Al, A2 slaughter steers 40 to 41.40, A3 39 to 40. Al, A2 heifers 37 to 37.90. A3 36 to 37. Dl, D2 cows 30.50 to 32, D3 29 to 30.50, D4 26 to 29. Good bulls 33 to 35.50. Replacement cattle were mostly fleshy steers weighing more than 900 pounds and selling at steady prices. A few heifers were steady as were stock calves. Good feeder steers 575 to 750 pounds 44 to 51.50, more than 750 pounds 40 to 43.60. Good feeder heifers 550 pounds and more 34 to 41.25. Good stock and feeder cows 25 to 33. Good stock steer calves more than 400 pounds 44 to 52.50. Good stock heifer calves more than 400 pounds 40 to 44. Hogs base price 44.25. Lambs were $3 higher Tuesday with good kinds 33. Appointed Roy Archibald of Medicine Hat has been appointed vice-president, manufacturing of Northwest Nitro-Chemicals Ltd. W.. L. Keko, president of the Canadian fertilizer company, has announced. In his new position, Mr. Archibald is responsbile for all operations of the company's Medicine Hat plant. He had been general manager of production since 1970. Canadian Hydrocarbons slipped lVz to $12, Pacific Pete 1 to $37%, Fields Stores % to $231/s, Stelco % to $33% and New Providence one cent to 27 cents. Kerr Addison climbed % to $11% and Sherritt Gordon % to $17%. United Siscoe dropped 15 cents to $5.70. BANKS GAIN MONTREAL (CP) - All sectors except utilities advanced in moderate trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges was 400,000 shares compared with 504,300 at the same time Tuesday. Banks gained 1.53 to 279.53, industrials 1.31 to 245.45, the composite 1.04 to 232.33 and papers 0.83 to 116.98, while utilities dropped .15 to 159.31. On the Montreal Stock Exchange, Redpath Industries dropped 2Vi to $27%, Pacific Petroleum 1% to $37% and Fal-conbridge Nickel 1 to $70%, while Shell Canada rose 1 to $53% and Imperial Oil % to $43%. On the Canadian Stock Exchange, Panacan Resources was unchanged at 45 cents on 59,500 shares. PRICES MIXED NEW YORK (AP) - Stock market prices were mixed today, with some of the blue chip issues giving ground. Trading was slow. The noon Dow Jones average of 30 industrials was off 5.41 to 978.18. On the New York Stock Exchange, declines pulled into a six to five lead over gains, which had a small lead at the start. Among Canadians, Inco was down % to $33%, Granby Mining V\ to $20, Hudson Bay Mining Vi to $22% and Alcan % to $25%. Massey-Ferguson rose Vt to $22%. On the American exchange, Brascan was up Vi to $20% and Canadian Javelin Ys to $7%, Gold price climbs to record high LONDON (AP) - The price of gold hit record highs in Europe today after gaining a phenomenal $10 an ounce in the week since the United States dolar was devalued. The U.S. currency was weaker. DeaLers attributed the sharp rise in the gold price to "mainly speculative business," meaning that another run on the dollar that would hoist the price of gold even higher is expected sooner or later. The price of gold rose $2 an ounce in London an all-time high of $78.50 (U.S.), exactly $10 an ounce higher than it stood here Feb. 13, the day the dollar was devalued. Normally the price of gold varies only a few cents a week. In Zurich, this other main bullion market in Europe, the price hit $77 an 'ounce in morning trading, a record. - The jump in the price was even higher in Frankfurt than in London, more than $2 an ounce. The metel rose to $78.70-up from $76.53 Tuesday. The swift rise in the gold price indicates that speculators are betting on more monetary troubles before long. By buying gold they stand to make a profit in any future �rreas� rc-U?n-ment that sends the dollar down again. 4. <'V-**2 Landmark demolished One of the earliest industrial buildings in downtown Lethbridge is being demolished in the redevelopment area. The building at 6th Ave. and 4th St. S. was occupied by Glascon Industries Ltd. until it moved out in the fall of 1971. Until the first of this month it was used by Glascon for storing boats and boat moulds. The building was purchased by the city from Abe Bickman. Grain prices Winnipeg Grain WINNIPEG (CP) - Rape-seed prices at both terminal positions remained well off previous close levels today at mid - session on the Winnipeg Commodity Exchange. Flax prices fluctuated wildly within a seven - cent range, oats and barley were fractionally higher and rye posted strong advances on a moderate demand. Tuesday's volume of trade was 1,644,000 bushels of flax, 2,190,000 of rapeseed and 879,-000 of rye. MID-SESSION PRICES: Flax: May 1% lower 5.49B; July 1 higher 5.39; Oct. 4 lower 5.08; Nov. 3 higher 4.91A. Rapeseed Vancouver: March 10 lower 4.11A; June 10 lower 4.08; Sep. 9% lower 4.00A; Nov. 7% lower 3.67%A. Rapeseed Thunder Bay: May 10 lower 3.77A; July 10 lower 3.69A; Oct. 6y4 lower 3.61%A; Nov. 9 lower 3.49A. Oats: May % higher 1.21%B: July Vs higher 1.19%; Oct. 1% higher 1.13%B; Dec. not open. Barley: May % higher 1.52%; July IV* higher 1.53%B; Oct. lVt higher 1.52%B;- Dec. not open. Rye: May 1% higher 1.56%; July 1%'higher 1.55%A; Oct. 2 higher 1.53V4B; Dec. 1% higher 1.48%. Grain quotes Tuesday (basts Lakehead): Open High Low Close Flax May 550% 541% 550% Jly 538 528 538 Oct 512 506 512 Nov 489 488 488 Rapeseed Vancouver Mar 437 421 421 Jun 435 418 418 Sep 425 / 409% 409% Nov 390V4 375 375 Rapeseed Thunder Bay May 401 387 387 Jly 394 379 379 Oct - - 368 Nov - - 358 Oats May 120% i2oy4 120% Jly 119% 118% 119 Oct - -- 112 Dec - - 108% Barley May 152% 150 152 Jly 153 151 151% Oct 150% 149% 150% Dec - - 148% Rye May 160% 151 154% Jly 159 150% 1541/4, Oct 155V4 i5iy4 151V4 Dec 147% 145% 147% Dollar value MONTREAL (CP) - U.S. dollar in terms of Canadian funds at noon today was down 3-32 at $0.99%. Pound sterling up 1% at $2.41.%. In New York, the Canadian dollar was up 21-32 at $1.00%. Pound sterling up 1 5-16 at $2.44. I OLIVETTI CANADA LIMITED Is now accepting APPLICATIONS from young men interested in a marketing or management career. For appointment phone Mr. D. J. McDowell 327-2555 1 Hog prices EDMONTON (CP) - Average prices to 11 a.m. provided by the Alberta hog producers marketing board: Edmonton: 44.25, average Tuesday 44.25. Red Deer: 44.25, average Tuesday 44.32. Calgary: 44.25, average Tuesday 44.34. Lethbridge: Nil, average Tuesday 44.36. Fort Macleod: Nil, average Tuesday 44.30. Total hogs sold to 11 a.m. 742, total Tuesday 11,471, average 44.30, sows average 30.15. Beef futures WINNIPEG (CP) - Live beef futures close Tuesday. Mar - 41.80N; Jly - 42.50; Sep - 40.50A. � Monday's volume: Two contracts. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCuaig Limited) (11:00 a.m. Quotes) LAST BID OR SALE (11:00 a.m. Quotes) WESTERN OILS AND MINES Alta East Gas Alminex Asamera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Chleftan Dome Pete Dynasty Fort Reliance Giant Mascot Gf Plains Gt Cdn Oil S Lochiel Lytton Mln Noble Mines North Cdn Oils Numac Pancan Pete Pan Ocean Petrol ' Pinnacle Place Gas Ponder Ranger Scurry Rain Selbens Spooner Total Pete Ulster West Pete W. Decslta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitalne BC sugar Pfd Block Bros Brinco Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrook For Crowsnest Ind Cygnus A 10.00 6.45 12.87Vj 14.00 18.00 5.15 5.90 4.20 8,00 9.87Vj .32 53.50 4.00 15.00 42.00 9.75 .34 4.00 33.S7'/i 9.20 3.30 2.20 1.50