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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 8, 1974, Lethbridge, Alberta Higher market prices continue TORONTO (CP) The Toronto stock market lost some early gains, but led by golds, remained higher in active midmorning trading today. The gold index was up 13.6 to 513.73 in response to record bullion prices in Europe. The industrial index, con- sidered the best gauge of market direc- tion, rose .34 to 217.70, base metals .77 to 102.88 and western oils .89 to 265.08. Volume by 11 a.m. was 1.92 million shares, up from 1.44 million at the same time Monday. Advances, outnumbered declines 193 to 156 with 188 issues unchanged. Construction and material, pipeline, oil refining and utility stocks were among sectors of the market to gain while paper and forest, real estate, steel and trust and loan issues were lower.' Among golds. Dome Mines rose 2 to Giant Yellowknife 1% to Sigma to and Camflo to to and Zellers% to Pan Ocean Oil gained to and North Canadian v. to Crown Life was off 1 to Reader's Digest 1 to and Elks Stores '2 to Tara Exploration declined to and Hudson Bay Mining to MONTREAL (CP) Prices were generally higher in heavy trading on the Montreal stock market today. Volume on the Montreal Stock Ex- change at a.m. was shares, compared with at the same time Monday. One analyst said the large volume was due to heavy trading in speculative gold issues. Industrials rose .66 to 244.03, the composite .57 to 226.82, utilities .40 to 142.55 and banks .19 to 270.30 while papers fell .60 to 133.20. Dome Petroleum rose to Webb and Knapp Canada 1 to Calgary Power to and Aquitaine Co. of Canada to i while Abitibi Paper fell '4 to Among junior mine issues. Gold Hawk Mines rose one cent to 61 cents on a volume of shares traded. VANCOUVER (CP) Prices were mixed in light trading at the close of the Vancouver Stock Exchange Mon- day. Volume was In the industrials. Mercuria was at .40 on 16.000 shares. Speculators was at on 6.000 shares. Pacific Northern Gas was up .15 at on 4.290 shares. EDP Industries was up .02 at shares. Key industries was unchanged at .15 and Captain International was unchanged at .65. In the mines. Northair was up .09 at Cutlass Mines was up .01 at on .02 at .73 on 26.600 shares. Jason Ex- plorations was unchanged at .07. Barrier Reef was down .10 at In the oils. Trans Canada Resources was down .12 at on 14.900 shares. Seneca Developments was down .03 at SI.13 on 11.650 shares. Rose Pass was up one and one-half cents at on 9.- 000 shares. Monterey A was up .04 at .48 on T switch to daylight time in the United States. The new hours are 6 a.m. to 1 p.m. Chicago markets CHICAGO (AP) Most commodity futures rose sharply on the major markets Monday, spurred by the weather in the United States and strength of the dollar abroad. Limit gains were posted in several farm commodities as well as some of the so-called internationally traded commodities. On the Board of Trade, wheat and soybeans advanced the limit of 20 cents a bushel, corn was up 10 cents and soy- bean oil 100 points, but there was a small sell-off in corn at the close. Cattle and hogs on the Mercantile Exchange rose about a hundredweight, while pork bellies ad- vanced the limit of 150 points and shell eggs rose as much as 145 points. A record high of was set for Idaho potato futures. World sugar also closed strongly. While weather problems in the U.S. were a strong buying factor, a bigger buying move was'activated by reports before the session started that the U.S. dollar was again strong in European markets and that the British pound .sterling and Japanese yen were weaker. Gold and silver prices also were strong in major European off in the major pits. The trade I ing was that exports probably would expand with a cheaper U.S. dollar and stronger currencies of countries that compete with the U.S. for farm ex- ports. GRAIN CLOSE: Wheat: Mar 5.75'a; May 5.55-'j; Jul 4.87'a: Sep 4.86: Dec 4.90'. Corn: Mar 2.81; May2.85: Jul2.87'.i: Sep 2.804; Dec 2.62'i: Mar 2.65. Oats: Mar 1.50'j: May Ju! Sep 1.50. MONTRKAI irpi MUiNiHbAL (CP) U.S. dollar in terms of Canadian funds at noon Tues- In New York, the Canadian dollar was down 7-100 at 21-25. Pound sterling was up 3-10 at 12.23 1-10. WINNIPEG (CP) Live beef futures close Monday. Jan 49.95A: Mar 54.50B; May 54.80: Jly Friday's volume: 31 contracts. NEW YORK (AP) Stock market prices turned lower today, amid investor worries about inflation, an economic slowdown, and the continu- ing energy crisis, brokers said. Gold issues were strongly higher as the price of bullion climbed in overseas markets. The Dow Jones average of 30 in- dustrials at noon was down 9.15 to 867.70. and declining New York Stock Exchange issues held a 694-to-503 lead over gainers. Among Canadians on the New York exchange. Dome Mines advanced 6 to International Nickel 34 to and Mclntyre 'A to Hiram Walker dropped to Hudson's Bay to Alcan to and Canadian Pacific y-Ferguson was unchanged at i i the American exchange, Preston Scurry Rainbow declined Vs to Winnipeg grain WINNIPEG (CP) Increased buyer interest in oilseeds pushed some months to or near the trading limit in moderate activity at mid-session today on the Winnipeg Commodity Ex- change. January Vancouver rapeseed, which opened late in initial trade, quickly reached the 20-cent-a-bushel limit. May flax was one cent a bushel shy of the 30-cent limit. Rye continued to show strength, with near months as much as 6'A cents a bushel higher. Monday's volume "of trade was 000 bushels of flax, of rapeseed. 1.146.000 of rye and there were no oats or barley. Mid-session prices: Flax: May 29 higher 10.80A; July 20 higher 10.05A; Oct. 14 higher 9.07B: Nov. 7 higher 8.75B. Rapeseed Vancouver: Jan. 20 higher March 9% higher 6.68; higher Sept. unchanged 6.36B. Rapeseed Thunder Bay: May 5 higher 6.45A: July. Oct. and Nov.'not open. Oats: May unchanged 1.56B: July un- changed i.47mj. Barley: May unchanged 2.45VzB: July unchanged 2.30B. Rye: May 6'A higher 3.69: July 4V-i higher 3.57'iA: Nov. not open. WINNIPEG (CP) Gram quotes Monday basis Lakehead: High Low Close ,057 1037 Nov d Jan Mar Jun Sep _ _ Rapeseed Thunder Bay Mav 640 631a, 650 650 m Oct Nov Jiy Rye May Jl.v Nov 362-4 There were no cattle sales Monday due to the regular sale of weaner and feeder hogs. Sales 621 hogs. All classes of weaner and feeder hogs meeting reasonably good demand. Weaners to lower. Light and heavy feeders selling about steady prices. Weaners 14'j to Light feeders under 100 Ibs. 26.75 to 27.50. Heavy feeders over 130 Ibs. to All prices per head. Light feeders under 100 Ibs. to 48 per hundred weight, heavy feeders over 100 Ibs. to 36Vj per hundred weight. Boars 51'A to 90 per head. Butcher hogs sold Monday at the Lethbridge yards 49.45 base price. Slaughter steers met a good demand at prices 75 cents higher, with sales to bulk of the heifers on offer went to an export bid. Feeder and slaughter heifers sold strong. Cows were lower. Bulls sold steady. Steers. Al, A2: 48.50-49.60. A3: 47- 48.25. A4: 43.50-46.50. Heifers, Al, A2: 42.50-43.80. A3: 41-42. Cows. Dl, D2: 35- 36.70. D3: 32-34. D4: 28-31. Bulls, good: 42-45.50. Replacement cattle were practically all shortkeep steers weighing more than 850 pounds and heifers weighing more than 750 pounds, selling generally steady. There were insufficient stock calves on offer to es- tablish quotations. Good feeder than 80 48.85. 050 Gold futures WINNIPEG (CP) Gold futures. U.S. funds. Winnipeg Commodity Ex- change close Monday. Jan 74 124.25; Apr 74 129 60; Jly 74 134.50; Oct 74 138.10A; Jan 75 142.10A. Friday's volume: 226 contracts. I'm Interested In frM trial of the Philips 96 dictating system. I understand there Is no obligation. NAME ADDRESS CITY PROVINCE LOOKER OFFICE EQUIPMENT 2M-13ttt SI. N. Lethbridge, Alberts The Herald- Tuesday, January 8, 1974 THE LETHBRIDOE HERALD Business insi i 868 658'A 650 636 640 624 595 585 230 347'i 340 353% 325 Stocks Miscellaneous Vancouver, Calgary, (Supplied by Doherty, McQuaig Ltd. WESTERN 4.10 AND Ltd 3.00 Afton Cdn Sd Pro 4.50 Albany Min 1.18 A Pfd 59.12V9 Yukon 9.75 Ashland LINE STOCKS Alta East Gas A BP Gas Pfd 69.00 Brenda Nat Gas 19.75 Can Nat Gas 9.25 Cdn Exp Metro 6.37% Cdn Metro A Pfd 64.00 Cdn Ind and Cent Gas Cdn Long Gas B Pfd 21.50 Gas Trans Cdn Pipe 34.25 Dome Pipe A Pfd 63.50 Pipe B Pfd 38.00 Fort Pipe War 5.50 Giant Trans Gibraltar Trans Wts 3.50 Great .61 Gt Cdn Oil Oils .04 Lochiel Continental .01 Vt Lytton Warner .30 Noble North Cdn Explor .35 Pancdn Pete Pan Norse .96 Dankoe 1.95 Petrol .35 Place Varden .27 Res .13 Ranger 10.50 Scurry -12 Standard 1.75 Total Copper 9.25 Ulster United Brew 2.90 WC Industries West 1.55 INDUSTRIES Acres Pete .79 Plains Pete .22 BC Sugar A Explor .73 Block Intl Res .87 Cdn Pac A FUNDS Com Cap Cdn Compound 6.69 7.27 Carling O'Keefe A Cdn Dividend 7.06 7.67 Carling O'Keefe B Cdn Ventures 3.48 3.78 Crest Forest 5.14 5.65 Crows Special 2.63 Falcon Invest F 5.05 5.53 F and M Inter 13.17 14.47 Genstar Glob Com Units Home Oil A Home Oil B Hud Bay Co Hud Bay 40.00 51.00 46.25 19.00 Leverage 3.15 3.46 Com Venture 5.33 5.86 Corp Investors 6.39 7.0J Corp Invest S F 4.94 5.43 Dreyfus Fund US 11.20 12.27 Hud Bay Oil A Pacific 4.49 4.91 Hugh Rus C Income 3.08 3.3! Husky Equity 7.32 Husky Oil B Grow F 11.95 .Husky Oil D Mutual 5.73 6.26 Husky Oil E Accum 6.21 6.82 Hys of Grow F 3.24 3.57 Int Pro Pipe Resources 4.94 5.43 Int Pro Cdn 5.37 5.90 Kaiser Resources Loblaw C Growth 4.57 5.02 Providsnt Mutusl 7.43 8.12 6.88 7.1 C Pacific Pac West Grow 7.81 Unit6d Accum 4.65 5.11 Rainier Inc Savings 7.98 8.78 Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont 8C Sugar A Bow Valley Ind 20.00 29.75 D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger Hudson Bay Hydra Ex. Iron Bay Jollet Quebec Kerr 'Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Mldrlm intern Mogul Noranda Northgate Norlex Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock 1.75 1.80 .57 1.93 5.25 8.00 3.35 9.75 .90 1.05 4.50 2.80 1.17 6.75 5.25 .50.00 1.05 2.50 64.25 .24 .65 3.60 44.00 26.25 1.95 .21 13.00 .28 42.00 5.25 .06 2.30 1.31 .42 58.50 .15 .15V4 8.50 52.00 5.50 .26 32.00 24.25 1.30 .13VJ 1.20 Carling O'Keefe Chemcell Cdn Cellulose Cal Power Coron Credit CWN Gas Pfd Cdn Industries Cdn Marconi Cdn VicKers Chrysler CPR Cominco Cons Bathurst Cons Gas Dist Seagrams Dominion Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glendale Mobile Grt Cdn Oil Sands Gen Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie imperial Oil Imasca Int Nickel Int Pipe Inv Group A ID intern1! Indust Accept Kaps Kelly Doug A Laurentlde A 8.75 3.75 5.25 6.75 24.00 2.25 10.00 18.50 3.65 14.00 14.75 16.50 27.00 16.62V2 42.25 36.00 22.87V4 9.25 12.25 40.50 30.25 6.25 10.87V4 46.25 24.87V4 33.00 17.62V4 5.2S 50.50 31.25 40.8714 26.50 37.00 21.62V4 8.00 17.75 17.00 4.95 5.12V4 4.00 Moore Corp A Molaons B Nachuri North Cent Power Corp Price Co 32.75 53.7S 22.25 13.8714 11.00 10.3714 15.00 Steep Gordon United Canso Western Mines WH Copper Mines Wright Hargreaves Wlllroy Windfall Yellowknife Bear Zenmac INDUSTRIALS Abltlbl Alcan Algoma Steel Atco Ind A Jannock Agra Ind Bell Tel Brazilian Trie BC Tel BC Forett 23.50 3.05 .3.15 3.00 1.25 .13V4 5.75 .08 12.6214 39.25 20.50 15.37% S.87V4 10.00 40.75 17.1214 49.50 14.37V. 20.75 Simps Sears Steel Canada Selkirk A Texaco Trad Grp A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Siseoe Versatile Mfg Westeel Westons Woodwards A West Cdn Seed Zenith Elec BANKS Cdn Imperial Montreal Nova Scotia Royal Toronto-Dom 11.25 30.62Vt 45.00 16.00 15.25 34.00 17.00 10.25 13.6214 6.75 6.50 11.00 19.50 19.00 4.50 2.6C 28.75 18.87V4 36.25 36.SO 36.00 New York (Supplied by Richardson Securities of Canada) Amr. TAT Woolworth 18.25 Anaconda Westinghouse Elec. 25.12Vt Beth. Steel 34.75 U.S. Steel 38.3714 Chrysler 15.00 Gen. Tel. Elec. 26.00 Comsat 38.50 TORONTO AVERAGES Dupont 166.1214 20 industrials 217.17 down .19 General Motors 46.75 20 Go'ds 516.70 up 16.50 Quit 10 Base Metals 103.03 up .92 Int. Harvester 26.50 15 Western Oils 264.23 up .04 Kenn. Copper 46.50 Volume Montgomery Ward NEW YORK AVERAGES Sears 83.00 20 industrials M7.46 down 9.37 Exxon 96.00 20 Rails 193.09 down 4.44 Texas Gulf 35.50 15 Utilities 94.35 down .73 Texas Co. 31.50 65 Stocks 276'70 down 3.74 Wix Corporation 13.50 Volume Canada's Daily Consumption How oil used Canada is producing almost all of its own needs of barrels a day from 40 refineries. Graph breaks down the usage. '73 record year for auto markers DETROIT (AP) The Big Three auto-makers had a record year in 1973, but just barely. Consumer demand plummeted in the waning weeks of the year. General Motors, Ford and Chrysler each reported Mon- day that their sales for 1973 reached all-time highs. But substantial drops in sales in the last quarter whittled those gains to .2 per cent at Ford, one per cent at Chrysler and 5.2 per cent at GM. Sales began dropping in .October, with December showing the worst perfor- mance for the three firms since 1970, when General Motors was crippled by a nine- week strike. The three firms sold autos last month, compared with in the same month in 1970 and 718, 843 in December, 1972. GM and Chrysler said their sales dropped 20 per cent from December, 1972, compared with last month, while Ford reported a 26-per-cent down- turn. Total sales for the Big Three slipped 11.4 per cent in October from the previous year, 12.7 per cent in November and 20.2 per cent in December. Meanwhile, little American Motors was bucking the in- dustry trend by turning in a 28- per-cent sales increase for December and a 26-per-cent gain for the year. Spokesmen said it was the best perfor- mance in 10 years for AMC which has been producing more compact cars. AMC said it sold autos last month, compared with the previous year. Its yearly sales totalled last year, compared with 271 in 1972. General Motors reported sales of U.S.-built cars in 1973, a 5.2-per-cent increase from the sold the previous year. December sales dropped to in 1973 from in 1972. Sales at Ford rose slightly to last year from in 1972. In December, the firm sold autos, compared with the previous year. Chrysler fared little better, increasing its yearly sales less than one per cent, to from Its December sales slumped to from Total sales of domestic cars reached a 3.7-per- cent increase over the 502 autos sold in 1972, the previous record. Volkswagen and Toyota, the two largest foreign sellers on the U.S. market, both said their 1973 sales were down two per cent. VW dropped to 318 from while Toyota decreased to from U.S. wholesale prices level worst in decades WASHINGTON (AP) A new lurge in food pricei com- bined with rising fuel costs to drive United States wholesale prices to near-record levels in December, the government reported today. December's increase brought wholesale prices to a level 18.2 per cent above a year ago, closing out 1973 with the worst record in more than 24 years. Oil export tax boosts revenues OTTAWA (CP) The federal crude oil export tax, formally approved by the Commons Monday, has produced substantial new revenues since it took effect Oct. 1. Canada exported barrels of oil daily in October, in November, in December and will export barrels in January. The quotas are set by the national energy board. Below is a breakdown, bas- ed on the quotas, of monthly revenues generated by the changing export tax rate. February and March figures are calculated on a projected export quota of barrels a day. Rate-barrel Revenue Oct. .40 Nov. .40 Dec. Jan. 2.20 Feb. 40 Mar. Total The labor department said the wholesale price index rose 2.2 per cent last month on a seasonally-adjusted basis and 2.5 per cent on an adjusted basis. Wholesale prices, which fell in September and October, be- gan climbing in November as the inflationary effects of the fuel shortage and the Arab oil cut-off began to show. Prices of farm products, processed foods and feed reversed a three-month decline and rose sharply in December by 1.4 per cent, the report said. FOOD PRICES UP Consumer foods, those bought by suppliers ready for the supermarket, rose five- tenths of one per cent on a seasonally-adjusted basis and showed a 1.3-per-cent rise before seasonal pricing patterns were taken into ac- count. Leading the big rise in energy prices were costs of middle-distillate fuels, mostly home-heating oil, up 27 per cent, and light-distillate fuels, mostly kerosene, which rose 29 per cent. Wholesale gasoline prices jumped another 17 per cent in December, following a record 34.7-per-cent increase the pre- vious month. Crude oil prices were up five per cent; electric power 1.8 per cent; and coal seven-tenths of one per cent. Buy oil share QUITO (ReuteV) The government of Ecuador will buy a 25-per-cent share in the United States Texaco and Gulf Oil consortium operating in the Latin American country, the ministry of natural resources has an- ntfunced. Gold price sets record; dollar up LONDON (AP) Gold bit a record price of an ounce today amid monetary uncertainties stemming from the oil crisis. The United States dollar rose on Euro- pean money markets. The gold price was the high- est reached in trading since the record last July 6. But despite active trading, the price fell to at the morn- ing price "fixing" by five leading London bankers. This fixing price was also a record. The record price of was higher than Monday's closing price. The commercial dollar opened in Paris at 5.03 francs, up from 4.97 Monday. It was the first time since devalua- tion last February that the dollar has hit the 5-franc mark, but it eased slightly in later trading. The financial dollar rate was 5.18 francs, up from 5.16. RECORD REACHED The dollar also reached post-February highs in Frankfurt, Brussels and Milan. In Frankfurt, the open- ing rate was 2.8965 marks, up from 2.8825. The rate in Brussels was 43.85 Belgian francs, up from 43.175. In Mi- lan, the commercial rate was 637 lira, up from 6.29.5. The fi- nancial rate was 643, up from 637.9. Change made in price of feed-grains WINNIPEG (CP) The Canadian Wheat Board an- nounced changes Monday in its domestic selling prices of prairie feed grains, effective immediately. A survey of "off-board" prices showed changes in several areas, so the board made corresponding changes. No. 3 Canada western red spr- ing wheat increased to a bushel, No. 1 feed barley to and No. 1 feed oats decreased to basis Thunder Bay or Vancouver. Off board prices are the go- ing rates for feed grains purchased outside the board. CAREER WANTED YWCA RESIDENT SUPERVISOR Responsible adult interested in working with people. SALARY NEGOTIABLE! PHONE 327-8221 or 327-2284 OVERSEAS SEISMIC OBSERVERS Experienced DFS-3, DFS-4, and Sum-it Operators International Personnel Manager will be in Calgary to interview exper- ienced seismic observers for immed- iate contract committments in South America and Africa. Personal interviews to be conducted January 11 and 12, at 303 Forge Road S.E., Calgary Call or write in advance for applica- tion appointment. Petty-Ray Geophysical, Inc 303 Forge Road S.E., Calgary Telephone ASSISTANT MANAGER I MORTGAGES and FINANCE Rapid expansion of both Consumer Loan and Mort- gage Divisions of the Niagara Companies has ere-' ated immediate openings for the position of Assis- tant Manager in Calgary and Lethbridge. Some prior business experience required, preferably In banking, finance, mortgage of sales fields. Salary range Apply In strict confidence to: Mr. R.M. BOND, Personnel Department, Niagara Finance Company Limited 816-4th Ave. 8., Lethbridge, Alberta (Telephone 328-7714) THE UNIVERSITY OF LETHBRIDGE INVITES APPLICATIONS FOR SECRETARY -3 to 5 years secretarial experience -Personnel labour relations background -High school or higher education LIBRARY ASSISTANT -Grade XII -Typing -Ability to operate the Listening Centre and -Television Distribution Centre Last date for receipt of applications is Jan. 11, 1974. Pleeee atibmlt apoNeatlone to: Personnel Office The University of LethbrMge 4401 University Drive LethbrtdQo, Alberta) T1K 3M4 Telephone: ;