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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 24, 1975, Lethbridge, Alberta Monday, February 1975 THE LETHBRIDGE HERALD 19 -The Herald- Business Gov't studying plan State ownership of Chrysler hinted Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited Readying pipe In anticipation of upcoming summer construction season, Alyeska Pipeline Service Co. is moving 80-foot-long sections of 48-inch-diameter pipe, now stored in Valdez, Fairbanks and Prudhoe Bay into other locations along the route of the trans-Alaska pipeline.__________________________----------- TSE opens week on lower trend TORONTO (CP) Prices on the Toronto stock market were generally lower in moderate mid-morning trading Monday. The widely-based industrial index was down .60 to 186.72, base metals .42 to 67.08 and western oils 1.53 to 164.59. The gold index rose 3.39 to 448.42. Declines outnumbered ad- vances 157 to 110 with 163 issues unchanged. Volume by 11 a.m. was 000 shares compared with at the same time Friday. Provincial Bank was off to Bank of Nova Scotia "A to BP Canada Vt to Consolidated-Bathurst to and Moore to Pennington's rose 14 to IAC to Harlequin V4 to and Reed Shaw Osier A Cuvier Mines lost five cents to 86 cents and Pacific Copper two cents to 83 cents. Los River rose cents to Asamera was down to and Pan Ocean V4 to North Canadian was up 10 cents to Trading resumed in shares of International Chemalloy and the stock was up two cents to Standard Industries also re sumed trading and the stock rose 87 cents to Market trends MONTREAL (CP) Prices drifted lower in moderate trading Monday on the Montreal Stock Exchange. Analysts said declining interest rates remained a bullish factor but that many investors expressed concern thai a change of direction may come soon. Volume at a.m. was 210.K10 shares compared with shares Industrials dropped 0.63 to 189.62, the composite 0.53 to papers 0.37 to 105.26. utilities 0.33 to 139.95 and banks 0.22 to 264.72. Moore Corp. was off ty at 548, Toronto Dominion at Pan Ocean Oil J.i at and Bell Canada V, at while Falcon Nickel added IV-, to Among speculative issues, Belleterre Quebec was off four cents at 94 cents on vojume of shares. VANCOUVER (CP) Prices were down in light tradine Monday or, the Vancouver Stock Exchange which reported an early volume of shares. Trading opened at 6 a.m. because ot the shift to daylight saving time in the United Stales. In the industrials Key Industries was down 02 at .06. In the mines. Bow River was down .07 at .26. In the oils, Silver Crystal was unchanged at .20. The curb exchange volume was 500 shares. Amber Resources was off half a cent at .livi. Winnipeg grain WINNIPEG (CP) Although activi-, ty was better through mid session Monday on the Winnipeg Commodity Exchange, prices continued their slump of the past week. Some months of rapeseed. feed wheat and corn eased their respective daily trading limits, while other com- modities showed less dramatic losses. Friday's volume of trade was 49.000 bushels ol feed wheat, of oats, 606 000 of barley. of corn. 435.000 of rye, 395.000 of flax and 1.031.000 ol rapeseed. MID-SESSION PRICES: Thunder Bay rapeseed: May eight lower 6.20A; July 10 lower 6.18A; Oct. 20 lower 6.I9A; Nov. 10 lower S.13A. Vancouver rapeseed: Mar. S'.i lower 6.27'AA; June 11 "A lower 6.22VSA; Sept. 11 lower 6.11A; Nov. 12 lower 6.00A. Flax: May 18 lower 7.73A; July 21 lower7.42A: Oct. 17lower 7.13A: Nov. 14 lower 7.02A. Feed wheat: May 10 lower 3.57A; July 10 lower 3.44A; Oct. live lower 356A. Corn: May 10 lower 3.13'AA: Mar and July not open. Barley: May lower 2.42A: July Hi lower 2 41 'AA: Oct. not open. Oats: May 5V4 lower July 5'i lower 1.64A; Oct. three lower 1.66A. Rye: May lower 2.38'AB: July three lower 2.34B; Oct. not open. Currencies MONTREAL (CP) Monday's mid day foreign exchange selling rales supplied by the Bank of Montreal: Bermuda dollar 1.0200 France franc .2405 Germany mark .4400 Hungary forlnt .0418 Italy lira .001615 Japan yen .003480 Mexico peso .0615 Netherlands guilder .4205 Switzerland franc .4150 United States dollar 1.0040 Unilcrl Kingdom pound 2.42 U.S.S.R. ruhle 1.3545. Quotations in Canadian funds. NEW YORK (AP) Wall Street finally got its long-awaited sell-off Monday, sparked by some adverse eco- nomic news from' Washington. The noon Dow Jones average of 30 industrials was down 11.66 at 738.11, and losers held a better than 2-to-l lead over gainers in active trading on the New York Stock Exchange. Oh the American Stock Exchange, the market-value index dropped -32 77.41. The volume leaders, Marinduque Mining B was up at 2Vs. Sony Corp. up 'A at was the most-active issue. The NYSE com- posite index was down .53 at 43.17. Among Canadian issues on the NYSE, Dome Mines was up tyre up K. On the American exchange Hollinger was up Ranger Olll down Livestock Calgary CALGARY (CP) Receipts to 11 a m. Monday at the Calgary public stockyards totalled 216 head, mostly slaughter cows of average condition. Trade was moderately active. One small package of slaughter steers sold at ?36.40, indicative of fully steady prices. No good heifers were sold in early trading. All cows were steady, meeting a moderate local demand. Bulls sold fully steady. Steers, At. A2: 35 1036.40. Cows, Dl, D2: 21 to 23. D3: 17.50 to 21. D4: 14 to 17.50. Bulls; good: 20 to 21.75. A few stock heifer calves sold steady. Stock heifer calves 40t-to 550 pounds: 26 to 27.50. No hogs were sold to 11 a.m. WESTERN Oilfield Serv 3.70 0 Roval Trust co.uu AND ,n Sandwell 5.75 Alton Teledyne 8 Albany Oil Alta East Traders Grp Ptd 10.62V4 r Inn Trimac I WestlieldMin 1.00 Asamera Ashland Oil BP Weston A Pld 50.00 t a Brenda AHaGasTrkA 13.12'A I Cda South Cdn Ex Gas Cdn Homestead Cdn Ind Gas Ail Gas Trk Pld 56.00 S'Sf Alta Nat Gas ".75 7R9V, Gaz Metro Gas Metro A Ptd 51.00 I Cdn Long Is Cdn Chieftan 21.12'A Dome Trans-Cda Pipe 11-00 Trans-Cda A Ptd 60.50 Nufort Trans-Cda B Pfd 33.25 Giant Trans-Cda War J-00 Gibraltar WC Trans Granisle Gt Cdn Oil WC Trans War 2-55 Lochiel Ex Lylton Min North Cdn Oil Numac CALGARY 4.90 Acroll 11.12V4 Barons Oil N. Continental Pan Western Warner -13 135 VANCOUVER MINES Bathurst Norsemines '1.16 Cima Resources Ranger Oil Scurry Rain Seibens Dankoe 14.25 Davenport 8.87 'A Lornex .22 Nortnair Mines Total Pete Ulster Pete United Canso West Pele West DecaUa Primer .62 Pyramid 7.75 Silver Standard 1-J2 MO' Vaiiey 6.50 Key Industries -OB c 7c OILS Acres Ltd Aquitaine 1 BC Sugar C Pfd Block Bros SCanbra Foods Cdn Pac Inv A Pfd r Cdn Pacific Inv B Carling O'Keefe A Pfd Carling O'Keefe B Pfd Comm Cap Corp 0 Crestbrook Ind Crowsnest Ind Falcon Copper 0 F M Trust Genstar Home Oil A S Home Oil B v Hud Bay Co J Hud Bay Oil 0 Hud Bay Oil A Pfd Hugh Russell Husky Oil Husky Oil B Pfd :k Husky Oil E War Interprov Pipe Interprov Steel Kaiser Res Kaiser Res War Loblaw Co C Pfd MagnasoniCS Pacific uiuo 18.00 August Petroleum 12.25 Plains Pete 3.15 stampede Int'l Resources 3.00 MUTUAL FUNDS 29.75 All Cdn. Compound "i All Cdn Dividend 19.50 All Cdn. Ventures 2.20 21.25 American Growth Fund 2.05 A.G.F. Special 3.50 Cdn. Investment Fund 26.00 Eaton Commonwealth 12.00 6.25 Eaton Leverage 4.90 Eaton Int'l Venture 18.00 Corp. Investors Corp Investors Stock Fund 22.37'A Dreyfus Fund U.S. 1650 Grouped Income Shares 25.87VS Growth Equity 31.00 investors Growth Fund 52.00 Investors Mutual 17.00 Mutual Accumulating s-i' 34.50 Nat. Resources 5.50 N.W. Cdn. 1.91 N.W. Growth 16.25 Principal Growth 7.62'A Royfund 4.85 Templeton Growth 26.00 united Accumulative 1.80 Universal Savings 20.12V4 Vanguard a-JU Toronto mines, industrials (Supplied by Richardson Securities of Canada) Bonds GOVERNMENT OF CANADA BONDS Oct. 99.45 99.5S 8 Jul. 104.63 104.88 4Vi% Sept 84.00 84.25 Sept 76.50 77.50 3 Sept 15 Perp 37.00 39.00 Apr. 100.00 Jul. 100.00 PROV Si PROVINCIAL GUARANTEED BONDS Alta 8JA7. '90 97.50 99.75 Ont 7 '89.37'A 90.37V1 Ont Hyd 9 '94 99.00 100.00 N B '90 99.00 101.00 N S 614% '92 75.00 77.00 Alta 8W '90 S7.00 98.00 Man Hyd 8 '91 95.00 96.00 Sask '90 97.50 98.50 Nfld 9'4% '90 800.00 INDUSTRIALS A Gas 914% '90 94.00 96.00 Alcan Wi% '91 95.00 97.00 BC For 9W. '92 95.00 97.00 BC Tel '90 94.00 96.00 Bell Tel 9V4% '79 102.00'A 104.0014 Bell Tel '93 97.00 59.00 CP Ud IM% '89 92.00 94.00 CP Sec '90 94.00 96.00 CU Intl 9M '91 95.00 CWNG ISO 99.0014 Gulf 814% '90 96.00 98.00 In Pr P '90 96.00 98.00 Massey 9W, '80 99.00 Noranda 9V4% '90 96.00 98.00 Intl Nick 914% '90 96.00 98.00 Gas 914% '91 99.00 Stccl-Cda '90 97.00 99.00 TrCda P '90 96.00 98.00 TrCda P 10 '90 96.00 99.00 W Trans 814% '93 84.00 86.00 CONVERTIBLES Acklands '88 100.00 102.00 A Gas 7'A% '90 122.00 Con Gas 514% '89 74.00 76.00 Scurry '88 76.00 78.00 W Trans 80.00 82.00 W Trans' '91 102.00 104.00 IAC 914% '94 107.00 109.00 MINES Acme Advocate Asb. Akaltcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimp Conwest Cons. Rambler Coin Lake Cochenour. Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc llnllinger A Hudson Bay A Hydra Ex. Iron Bay ISO Juliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen H.L. Malartic Q.F. Martin McNeely Maclntyre Mela Midrim Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Norlex Pine Point Placer Dey. Pax Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep Rock Sunningdale Tek Corp. A Texmont United Canso Western Mines WH Copper Mines Wright Hargreaves Willroy Windfall Yellowknife Bear Zenmac 1.35 2.15 1.26 .40' 9.37V4 1.22 3.75 3.30 3.20 4.50 .86 1.11 2.75 1.53 .17 1.44 3.60 9.87'A 46.50 .28 53.50 2.26 4.50 1.75 !15 12J30 1.24 23.75 .67 4.95 1.15 .25 12.00 .23 25.12V4 3.95 .15 .71 1.50 .30 45.00 .11 .17 3.15 .24 32.62'.! 4.05 .15 15.50 1.5S .20 .93 .20 24.00 12.50 6.25 1.05 3.75 2.65 .19 7.75 1.75 1.61 1.60 1.55 2.30 INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Agra Ind Bell Tel 10.00 21.50 28.75 17.2S 6.50 Brascan A BCTel Burns BC Forest BC Sugar Bow Valley Ind Cable CAE Ind Gal Power Can bra .Foods Can Cellulose Carling O'Keefe Chemcell CWN Gas Ptd Cdn Ind Cdn Marconi Cdn Vickers Chrysler CPR CotTiinco 'Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dome Stores Dome Pete Dotasco Glen Mobile Grt Gdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Hawker Sid Hiram Walker A Huron Erie Imperial Oil A Imasca A Int Nickel Int Pipe Inv Grp A IU Int IAC Ud Jsnnock Kaps Kel Douglas A Laurentide Loeb Loblaw A Metropolitan Massey Ferg Mclvtill Bloed Moore Corp Molsons A Molsons B Nachurs North Cent Peyto Power Corp Price Co Rothmans Shell CDA Simpsons 'Simp Sears Steel Can A Selkirk A Texaco Trad Grp A Trans Mtn Pipe Trans Can Pipe. Union Carbide Union Gas Union Oil United Siscoe Versatile Mlg Westeel Westons Woodwards ABANKS Can Imperial Montreal Nova Scotia Royal Tor Dorri 10.75 13.37'A 12.75 7.25 3.00 6.75 2.25 3.75 8.50 13.50 9.62'A 16.87V4 28.00 24.00 16.00 35.62'A 20.00 20.00 "LONDON (API TWO Lon- don newspapers say the Labor government is ready to take over Chrysler's subsidiary if its United States parent com- pany decides to stop making autos in Britain. Chrysler of Britain and other manufacturers in the ailing industry have put their workers on a three-day week because of slumping demand that has left tens of thousands of cars unsold. There was no immediate government comment on the reports. However, Prime Minister Harold Wilson told the House of Commons last week that the U.S. com- reported a net loss of million last to carry on its operations in Britain. Chrysler employs more than workers at plants in Scotland and the English Midlands. The reports in the Sunday Telegraph and Sunday Ex- press say Trade Secretary AnthonyBenn has made con- tingency plans to take Chrysler of Britain into state ownership rather than see its plants run down. Benn was said to be studying a confiden- tial letter from John Riccar- do, president of Chrysler Car rebate offers end this week DETROIT (AP) Car rebate offers expire this week and Ford Motor Co. is ex- pected to match General Motors' decision to lower the price tag on some compact models by eliminating some standard equipment. The to rebates, which went into effect in early January, lowered new car in- ventories, but not nearly enough to force the car com- panies to increase production and call back workers. With 13 assembly lines clos- ed this week, of the in- dustry's blue-collar workforce are laid off. President Lee lacocca says Ford will step up production 50 per cent next-month and begin calling back some of the workers who are indefinitely laid off. Eight of Ford's assembly lines are closed this week. Three are closed at GM and two at Chrysler. GM was able to reduce the sticker price on nine of its small cars by to by. knocking off some equipment that had been considered standard. However, the cost of its lowest-price Chevrolet unchanged. Corp., on the future plans. "The government plan would be implemented only if- the Americans decided to end the Sunday Telegraph says. "There is no suggestion of nationalization against the owners' wishes." A Chrysler spokesman in company's Detroit said Riccardo told Benn in the letter that the auto-maker "is doing everything possible to stay in business in Great Britain." The spokesman said that the letter is not confidential and Benn is free to release its con- tents. The spokesman conceded Chrysler sales in Britain have been poor and the firm might be forced to halt production from time to time to reduce mounting inventories. "We can't let unsold models stack up in the fields of London anymore than we can let them stack up he said. THE INSTITUTE of CHARTERED ACCOUNTANTS of ALBERTA and THE LETHBRIDGE AND DISTRICT CHARTERED ACCOUNTANTS ASSOCIATION PRESENTA 17.75 26.87VS 25.50 1.52 7.50 38.50 16.75 30.25 15.62V4 5.00 27.87 'A 29.00 24.12'A 2.37 5.75 8.00 3.25 7.00 15.00 15.50 24.00 47.87Vi 17.50 16.00 7.87% TO SELL ASSETS LA PAZ (AP) The Boli- vian Power Co., a wholly- owned subsidiary of Canadian International, has started negotiations to sell its assets in Bolivia to President Hugo Banzer's military regime, business sources disclosed Tuesday. The company decid- ed to sell out because of a squeeze on profits resulting from a freeze on rates impos- ed by the government. PUBLIC FORUM "Income Taxes and You" 25 P.M. ERICKSEN'S FAMILY RESTAURANT MODERATOR: BILL LORD, C.A. Jarrett, Qoold Elliott PANEL: LYLE HARRISON, C.A. Thorne, Riddell Co. DAVE RICHARDS, C.A. Young, Parkyn, McNab Co. RON COJ.LEAUX, C.A. Colleaux and Mills RICK C.A. Watkinson, Hanhart, Duda Dorchak DAVID CARPENTER, C.A. CHAIRMAN: MYLES BOURKE, C.A. Thorne, Riddell Co. NO ADMISSION CHARGE! ATTENDANCE IS LIMITED... ONLY 200 SEATS AVAILABLE CO-SPONSORED AS A COMMUNITY SERVICE BY The lethbridge Hcrali .13.25 10.75 28.75 12.00 33.00 12.75 1T.37V1 18.75 8.00 8.37'A 3.80 7.25 24.00 19.75 22.25 28.00 15.37VJ 42.75 Have You Considered the Profitability and Efficiencies of the NEW RICHFIELD CENTRE? New York (Supplied by Richardson Securities ol Canada) Amr. T 8 T Anaconda Beth Steel Chrysler Comsat Dupont General Motors Gull Int Harvester Kenn Copper Montgomery Ward Sears Exxon Texas Gull Texas Co Wix Corporation 50.00 15.50 31.00 9.75 34.25 101.25 36.62% 20.37'A 25.87% 33.25 18.50 61.87V! 76.25 26.50 26.3714 11.12% Woolworth Westinghouse Elec 1Z-" U.S. Steel Gen Tel Elec 21.68Vt- TORONTO AVERAGES 20 Industrials 186.81 down .51 20 Golds 448.22 up 3.19 10 Base Metals 67.08 down .42 15 Western Oils 164.86 down 1.26 These Progressive Companies Have! Woodward. Pi.nn.Bow., ,L.o Scotl National Paper Du.tbarn Product. Cantury 253-7155 Calgary Tr.n.mi..ion Suppli.. Ltd. 6wgm.n'. Floor AVERAGES 20 Industrials 738.73 down 11.03- 20 Rails 160.7B down 15 Utilities B1.51 down .44 65 Stocks 234.98 down i.M Volume RICHFIELD ;