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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 25, 1975, Lethbridge, Alberta February 25, 1975 THE LETHBRIDGE HERALD 19 Prices on TSE decline sharply TORONTO (CP) Prices on the Toronto Stock market were sharply lower in fairly active mid-morning trading Tuesday. The industrial index fell 2.5 to 184, base metals .18 to 66.56 and western oils 3.04 to 161.25. The gold index was up 2.17 to 448.23. The market was responding to the New York market where a round of profit taking continued resulting in lower prices. Declines outnumbered ad- vances 241 to 68 with 155 issues unchanged. The volume of shares traded at 11 a.m. was com- pared with at the same time Monday. Royal Bank lost 114 to Canadian Imperial to Toronto Dominion 1 to Denison Mines to and Pan Ocean to Home Oil B rose to Dome Mines to Agnico- Eagle Mines and Co- seka 25 cents to Market trends MONTHEAL. (CP) Prices dropped sharply in moderate trading Tuesday on the Montreal Stock Ex- change. Analysts said the losses resulted primarily from a wave of profit-taking that has swept all North American markets after a recent sustained ad- vance. Volume at a.m. was shares compared with shares Monday. Banks dropped 7.38 to 255.95, the composite 2.70 to 184.44. industrials 2.62 to 186.43, papers 1.61 to 103.69 and utilities 0.76 to 139.58. Royal Bank was off at Imperial Oil A 1 at Moore Corp. at Domtar at and Toronto Dominion at Among speculative issues, Belleterre Quebec was off two cents at 90 cents on volume of shares. VANCOUVER (CP) Prices were down in light trading Tuesday on the Vancouver Stock Exchange. Early volume was shares. In the industrials, Bank of British Columbia trust units were off .12 at In the mines, Cyprus gained .05 to .91. Coseka paced the oils, up .40 to The curb exchange volume was 000 shares. Deans Ltd. was unchanged at .60. Prices were down Monday in light trading. Closing volume was shares. In the industrials, Mercuria was un- changed at .10: Newmark down .01 at Canterra unchanged at .29; EDP Industrials unchanged Block Bros, unchanged at and Venture unchanged at .27. In the mines. Bow River down .05 at .28; Cypress up .18 on .86; Carolin down .10 at S2.65; Grandora down .03 at .39; Northern Homestake down at .23 and Colt down .01 at .66. In the oils, Payette up .01 at .12; Seneca down .01 at 51; Rand A up .03 at .78; Stampede up .02 at .74; Monterey A was down .01 at .11 and Koseka down .35 at 52.80. Curb volume was shares. Kareba up one-half cent at Tagus up .02 at .38; Highland Star up .01 at .34; Decade down .02 at .45; Mark Vdown .15at 51.25 and Balmoral up .02 at .30. Winnipeg grain WINNIPEG (CP) Most futures prices began slipping in modest activi- ty through mid-session Tuesday on the Winnipeg Commodity Exchange. Rapeseed was the heaviest loser, with some months easing as much as 14 cents a bushel. With the exception of fractional gains by oats, other com- modities were slightly lower. Monday's volume of trade was 000 bushels of feed wheat, of oats, of barley, of rye, of flax and of rapeseed. There was no trading in corn. Mid-session prices: Thunder Bay rapeseed: May nine lower 6.05A; July 13 lower 6.05A; Oct. 14 lower 6.05A: Nov. 14 lower 5.89A. Vancouver rapeseed: Mar. llfz lower 6.13'A; June 10'A lower 6.08WB; Sept. Nov. 11 lower5.89A. Flax: May unchanged 7.66B; July 14 lower 7.39; Oct. unchanged 7.00: Nov. unchanged 6.90A. Corn: Mar., May and July not open. Barley: May unchanged 2.37A; July and Oct. not open. Oats: May higher 1.63'AA; July higher 1.62A; Oct. not open. Rye: May one lower July one lower Oct. not open. WINNIPEG (CP) Grain quotes Monday basts Lakehead: High Low Close Flax May 780 761 766 Jly 73914 733 739'.i Oct 700 Rapeseed Thunder Bay May 614 608 614 Jly 618 Oct 619 Nov 603 Rapeseed Vancouver Mar 6271; 616 621 Jun 627 614 619 Sept 610 602 608Vi Nov 600 592 600 Rye May 240 23614 'Jlv 235 230 232 Oct 230 Barley May 242 237 Jly 233 Oct 235 Oats May 166V4 163 163 Jly 165 161'4 161'A Oct 162 Corn basis Montreal Mar 320 May 31314 Jly 3221i Feed Wheat May 359 357 257 Jly 344 Oct 350 Gold futures WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg Commodity Ex- change close Monday. 406 OUNCE CONTRACTS: Apr 75 186.40A; Jly 75 190.50; Oct 75 194.80A; Jan 76 199.10A; Apr 76 203.05A. Friday's volume: 347 contracts IM-OUfTCE CONTRACTS: Kcb 75 184.SOB; May 75 188.10; Aug 75 192.50A; Nov 75 196.40A; Feb 76 200.70A. Friday's volume: 115 contracts. Feed prices WINNIPEG (CP) Wheat board domestic feed grain prices Monday: No. I few! barley No. 1 feed oats 1.67. NEW YORK (AP) Profit-taking and concern over the position of a New York State agency's securities drove the stock market into another broad decline Tuesday. The noon Dow Jones average of 30 industrials was down 15.10 at 721.84 after a drop of 12.83 Monday, and losers overwhelmed gainers by more than 6-to-l on the New York Stock Ex- change. Xerox, the most active issue on the NYSE. lost 2% to At the American Stock Exchange, the market value index fel! .92 to 76.45. The NYSE's composite index slumped .80 to 42.31. Among Canadian issues on the NYSE, Campbell Red Lake was up V-t to Alcan was down to and Canadian Pacific li to Chicago markets CHICAGO (AP) A rally in the closing minutes halved most of the sharp declines posted earlier in farm commodity futures on the Board of Trade Monday. Before the buying and short covering set in, soybeans had been do'wn some 16 cents a bushel, wheat and corn had 6 cent losses and oats about 3 cents. It was learned late in the session that the strike of grain in Canada might be prolonged because negotiations had been broken off. Also, the trade talked of a possible easing by the United States government, or even removal, of the limited export controls on grains. Some light buying appeared to have been generated by the two mildly bullish factors and as prices turned around in alt the major pits the early shorts fled to cover their positions. The loss in wheat futures was almost erased as prices closed mixed. Cana- dian wheat competes with U.S. wheat for foreign sales. Corn and oats gener- ally improved in price although the Canadian strike does not involve these two grains. Soybeans, meal and oil also tended to improve in the general flurry of buy- ing activity. Gold futures were little changed after fluctuating in a range of about At the close of grain trade, soybeans were D to 8 cents a bushel lower, March 5.40; wheat was 1 lower to 2'A higher, March 3.81; corn was 2% lower to 2 higher, March 2.78 and oats were to lower, March I.GO'A. Livestock Calgary CALGARY (CP) Receipts to II a.m. Tuesday from the Calgary public stockyards totalled about 750 head, mostly slaughter steers, heifers and cows of average condition. Trade was active on steers and heifers with a broad local and eastern demand. Cows traded on a moderately active basis while slaughter steers sold around higher. Heifers were higher and good cows were scarce with all grades selling steady. Heifery type cows sold to 24.40 while there were insufficient bulls sold to be a Factor on the market. Steers Al, 2 36 to 37.80, A3 34 to 35.50. heifers 1. 2 33 to 34.50. A3 31 to 32.50. Cows Dl, 2 2110 23, D3 18 to 20.50, D4 15 to 17.50. There were insufficient replacement cattle on offer'to establish a market. Hogs base 50.40. Fort Macleod FORT MACLEOD On offer by Fort Macleod Auction Market last week were 784 cattle. Light receipts of fed steers and heifers sold steady with last weeks sales, but cows improved with odd sales over Car-load lots of 500 pound yearling steers sold to with the heifer end at 460 pounds selling to SLAUGHTER Al and A2 steers, 975 to pounds. 34 to 35; Holsteins, to 1.200 pounds, 30 to 31.20; Al and A2 heifers. 900 to 1.050 pounds. 32 to 33: Dl and D2 cows 26 to 29; D3 cows 20 to 25; D4 cows 16 to 19.50: bulls 21.50 to 23.50. STOCKERS AND FEEDERS Good steers, 450 to 550 pounds. 32 to 34: plain and medium steers. 400 to 650 pounds. 20 to 29; good heifers. 400 to 500 pounds. 25 to 28.25; plain dnd medium heifers 18 to 24. Hog prices EDMONTON (CP) Prices to II a.m. Tuesday provided by the Alberta Hog Producers Marketing Board. Mon- day's prices in brackets. Edmonton: Calgary: 50.40 Red Deer: 50.35 Lethbridge: Nil Fort Macleod: Nil [logs sold to 11 a.m. 510. Hogs sold Monday. 8.201. Average 51.19. Sows average 37.15. Gold prices LONDON (AP) Closing gold prices Monday in U.S. dollars per ounce: Paris-186.21 'Zurich-185.5 Hong Beirut-5930 dollars per kilo The Herald Business Big reduction in stock last month Ford finds rebate on cars helpful Stocks Miscellaneous DETROIT (AP) A Ford Motor Co. executive says rebate offers resulted in a large reduction in the firm's huge auto inventories in the last month. The offers end Friday. Vice-President John Naughton said Monday that Ford's dealer stock was cut by vehicles between Jan. 10 and Feb. a 75-day from a 109-day supply. "The program may have cost three or four times as much as we anticipated, but it certainly did the Naughton told reporters. Car sales for mid-February are expected to be at their lowest level for the 10-day period in at least eight years, auto analysts say. Deliveries for the Feb. 11-20 period, which the auto com- panies report today, are. esti- mated at compared with in the same 1974 period, when fuel shortages hurt car sales. Vancouver, Calgary, Montreal Midland Doherty f I I Auto rebates are expected .C. oiljirms ordered WPSTERN OILS Pe-Ben Oilfield Serv selling rate of about AND MINES Trust Alton Mines 4.00 Sandwell 5.75 Albany Oil .32 Teledyne 4.30 Alia Easl Gas 5.87'A Traders Grp PId delay price increases J M. rate was Alrniriex Trimac in early Asamera Westliold Min .98 Ashland Oil 6.75 Weston A PId 50.00 BP Canada 10.75 While Yukon (CP) The will report its findings to the British Columbia Energy in mind for any price were the iowest for the period increases by the oil industry, in 13 de ite Brenda Mines 3.40 PIPELINE STOCKS Cda South 2.20 Alia Gas Trk A 13.00 Cdn Ex Gas 2 90 Alta Gas Trk Pfd has ordered oil Asked if the energy corn-companies in the province not mission had requested Energy Minister rebates of to offered Donald Macdonald has said by the car makers on Cdn Homestead Alta Nat Gas increase prices for at least ordered companies to if abuses occur the new Cdn Ind Gas Oil 7.50 Gaz Metro month. increases, Mr. government will be There have been no Cdn Super 32.00 Inland Nat Gas week, the said it was an to return to ad- dicatjons of an extension Chieftan 6.50 N a C Gas 10.75 Dome Pete N S C Gas B Ptd 21.00 Dynasty 8 Trans-Cda Pipe announced it will Although such an order is at allow oil companies to pass present unenforceable, prices. the rebateSi even though some industry observers say NulortRes -12'A Trans-Cda A Pfd 58.00 Giant Mascot .63 Trans-Cda B Pfd 33.25 Gibraltar Mines 4 30 Trans-Cda War to customers cost provincial government has increases in production and only to proclaim sections drop sharply as a result. A YYI o c General Motors, Granisle WC Trans incurred since the Energy Amendment is lowering the sticker Gt Cdn Oil S WC Trans War 2.50 Lochtel Ex 1973. passed earlier, to give on nine small models Lytton Min 1.00 CALGARY North Cdn Oil 4.65 Acroll commission such powers. Donald Johannessen, com- Price restraints were by eliminating some NumacOilGas 11.25 Barons Oil .05 Pancdn Pete 11.12VS N. Continental .02 Pan Ocean 10.50 Weslern Warner .15 Petrol 1.25 Paloma .67 VANCOUVER Place Gas .25 said Monday that ,nto effect nationally in the federal move took his September 1973. Gasoiine agency by surprise so we are ices were permitted to rise asking the oil companies here ,ast Bc dard equipment. WASHINGTON (AP) Ford and Chrysler are Ponder .45 Bathurst Norsemines delay (to April 1) doing (he en commission the United States Prevlous P01 OI Ranger Oil 20.00 Cima Resources .56 Scurry Rain 15.00 Dankoe 2.15 Seibens Davenport .60 Spooner .22 Lornex and give us time to ,oca, oi, companies to foregB gauge the impact of prices oc- t flf the increase accepted curnng elsewhere in Canada i i e, prices by making options stan-should advocate price tloors -j for imported oil, and they even differ on whether the by ?M doe? Total Pete 6.00 Northalr Mines 2.28 Ulster Pete .61 Primer Dy uiiawa. because of the federal Petroleum companies administration has alter the price of a car for United Canso 7.75 Pyramid s action. the federal government a policy yet. w s i hwan s West Decalta 4JO Valley Copper Johannessen said the December for a Secretary William to MISCELLANEOUS INDUSTRIALS wants to assess increase and were said Monday night that Acres Ltd Wardair hard consumers outside Mr. Johannessen said price floor is not kj Aquitaine 17.37'A OILS BC Sugar C Pfd 12.25 August Petroleum are hit by increases and Ottawa presumably has policy we are H still having discussions on the Block Bros 3.10 Plains Pete Canbra Foods 3.00 Stampede Int'l Resources .73 Cdn Pac Inv A Pfd 29.50 MUTUAL FUNDS Cdn Oacilic Inv 14.87VS All Cdn. Compound 5.18 Carling O'Keefe A Pfd 19.50 All Cdn. Dividend 5.54 Carling O'Keele B Pfd 21.25 All Cdn. Ventures experts pullvj Simon also indicated he did not support a price floor, which was advocated Feb. It Comm Cap Corp 2.00 American Growth Fund State Secretary Creslbrook Ind 3.50 A.G.F. Special 2.11 Crowsnest Ind 26.00 Eaton Commonwealth 12.67 Falcon Copper 6.25 Eaton Leverage 2.93 F M Trust 4.90 Eaton Int'l Venture N-plant pipe the Oshnvdtt Genstar 18.00 Corp. Investors 5.50 Home Oil A 23.50 Corp Investors Stock Fund 4.13 Home Oil B 23.00 Dreyfus Fund U.S. 9.12 Hud Bay Co 16.50 Grouped Income Shares (AP) A perts'who do not know why it nuclear power plant defect occurs or exactly how GRAIN Id VvCI Connection! Hud Bay Oil 25.37'A Growth Equity stress-assisted cor- causes tiny cracks in Hud Bay Oil A Pfd 31.00 Inveslors Growth Fund is puzzling safety ex- Hugh Russell 52.00 Investors Mutual us at Beny Chevrolet Husky Oil 17.00 Mutual Accumulating corrosion so Husky Oil B PId 34.25 Nat. Resources Nuclear Regulatory put you or Husky Oil E War 5.25 N.W. Cdn. business on wheels Inlerprov Pipe 1.92 N.W. Growth 3.88 Interprov Steel Principal Growth mission (NRC) three weeks Consumerism ago that it ordered 23 a flash-for less cash. Kaiser Res 7.62'A Roylund pis nts in the bother about main- Kaiser Res War 4.75 Templeton Growth or insurance. Loblaw Co C Ptd 25.25 United Accumulative the wane states to shut down and Magnasonics 1.80 Universal Savings cracks similar to Jxv car or a fleet, the Pacific Pete 20.1 2'A Vanguard Ont. (CP) A hairline cracks discovered Connection can Toronto mines, corporate executive said safety piping in a Dresden Monday industry has been Unit-2 plant in r you up with any model you want. 2 doors, to check the wave of con- That concern had doors, economy cars, (Supplied by Richardson Securities of complaints of the last some by the end of last week decade by listening and ac- after inspections at 20 There's a leasing plan for you. MINES BC Tel found no cracks like those Acme, .08 Burns F. Bennett, president of the Illinois Advocate Asb. 1.32 Forest 13.25 Akaitcho 2.10 BC Sugar Motor Co. of Canada Cracks there were Bralorne 1.26 Bow Valley Ind said the "swelling tide of Jan. 27 in two sSSehem giiavs CAEMnd consumerism has crested." diameter pipes that Bovis Cal Power Bennett is also surav cooline water on Brunswick 3.75 Canbra Foods 3.00 rhairmfln rtf thp arivisnrv rpnrtnr rnrp in an amor can NW Land 330 Can cellulose cndirman oi me duvisory reacior core in an Canada Tung. 3.20 Carling o'Keele 2.25 council of the Better Business -1 Cassiar 4.50 Cnemcel! of Canada. He made The NRC has a study I 1 05 Cdn his remarks at the inaugural investigating into the conwest ?jo Cdn Marconi 3.40 membership meeting of the of stress assisted Cons. Rambler 1.48 Cdn Vickers Daft r- G.E.C. Reavley, Coin Lake .18 Chrysler Windsor Ucttcr Sales Manager, R.L Boris KoreshenkOK Cochenour 1.40 CPR the 13th in is pleased to announce Craigmont 3.50 Cominco 27.00 Dickenson Mines 9.75 Bathurst said there is evidence BOATS FOR of Mr. Mike Division Denison Mines 45.50 cons Gas 15.62'A tnat consumerism is on tne MONTREAL (CP) fwl wane the fact' that radio Canada Products Ltd. will Grain has recently Discovery Mines 215 Domtar 19.37VS open-line shows no longer en- the official supplier 'Of facilities In the Oidsmobile fra K sSes 17 W their former popularity boats to the 1976 Park, Medicine Hat. R.L. Grain, a wholly Ave. 8th Street S. Fatonb'idge 30oo Bome Pete Si and that many newspaper yacht races in Kingston, company, is one of 328-1101 Frobex .14 Dofasco columns have been Thirtv-lhrep hnars will producers of business izll "Pushed off their front-page provided for security S8rV'Ce who you know Granduc 1.24 Gen Motors 37.37V, perch to less conspictoiis in- the races and the 1975 counts. Hud'sno9nrBay Mas A iljfvi Guii afe' 30.50 slde Olympic Iron Bay 4 85 Hawker Sid 5.00 Isb 1 05 Hiram Walker A Joliet Quebec Huron Er'e 26.00 Kerr Addison Imperial Oil A Key Anacon .23 imasca A 28.00 Labrador 25 12V4 Nickel 23.75 Lake Shore 4.10 Pipe 13.00 Lanqis Silver .15 Inv Grp A 7.00 Madsen R.L .72 IU Infl 10.50 Malarlic G.F. 1.50 IAG Ltd i Martin McNeely .28 Jannock 5.87V4 Maclntyre 44.50 Xaps 2.26 Mela 11 Kel Douglas A 5.75 Midrim 14 Laurentlde 8.00 Intern Mogul 3.15 Loeb 3.15 NuWest Homes 7.25 Loblaw A 7.1 2% New Athona .24 Metropolitan .14.75 New Calumet .16 Massey Ferg deserve a retirement savings plan Noranda 32.50 McMill Bloed Northgate 4.00 Moore Corp 47.25 Norlex 15 Molsons A 17.00 Pine Point 28.25 Molsons 8 16.00 Placer Dev 1512V? Nachurs 7.87VJ Pax Exp. North Cent 10.75 Quebec Wan .18 Peylo Rayrock 1.00 power CorP Radiore 20 price Co Rio Algom 2425 Rothmans 10.50 Roman Corp. 12.12V4 Shell CDA Sherritt Gordon 6 Simosons Steep Rock 1.02 Simp Sears y _Yes! Easy! Royal Trust has an easy way for you to have a R.S.P. It's called a Guaranteed Savings Account Retirement Savings Sunningdale 3.80 Steel Can A 28.1 how it works: you start off with a minimum deposit of After Tek Corp. A 2.70 Selkirk A 12.00 Texmont .20 Texaco up to you. Put away as much as you want, whenever you want. Either a lump sum Unlted Canso 7.50 Trad Grp A 12.50 Western Mines 1.75 Tran Mtn Pipe 11.12V4 WH Copper Mines 1 55 Trans Can Pipe so much a week, so much a month. Just like a savings account. You probably I won'teven notice it but over a year it'll build up. Wright Hargreaves 1.60 Union Carbide Willroy 1 50 Union Gas 7. 87 Windfall Union Oil the end Yellowknife Bear 2.26 United Siscoe 3.50 Zenmac 07W Versatile Mfg t's a big plus) you'll get a Westeel t deduction each and every year you contribute. We can't think of an easier way for Westons Abitibi 9.87V; Woodwards A to get the most out of your hard earned dollars. And we'll be glad to give you Alcan 21.00 BANKS Algoma Steel 28.00 Can Imperial information as you need. Just call us or drop Atco Ind Montreal Agra Ind 6.25 Nova Scolia Bell Tel 47.00 Royal 30.75 Brascan A 12.87V? Tor Dom what you want. We can help New Savings (Supplied by Richardson Securities of Retirement Savings Amr. T 8 T 49.76 Woolworlh 12.76 Anaconda Weslinghouse Elec 11.62'A Beth Steel 30.00 U.S. Steel 48.87V4 Chrysler 9.50 Gen Tel Elec Comsat 32.87V4, TORONTO AVERAGES Dupont 99.50 20 Industrials 184.09 down Trust General Motors 20 Golds 448.83 up Gull 20.12'i 10 Base Metals 66.21 down .53 Int Harvestar 15 Western Oils 160.91 down 3.38 Kenn Copper 32.00 Volume 1 Montgomery Ward NEW YORK AVERAGES 1 Sears 61.25 20 Industrials 722.93 down 14.00 1 Exxon 76.00 20 Rails 158.92 down 2.21 -4th Ave. South, Lethbridge, Alberta 328-5516 Texas Gull 25.75 15 Utilities 79.66 down 1.37 1 Texas Co 65 Slocks 230.48 down Wlx Corporation 11.00 Volume ;