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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - January 15, 1971, Lethbridge, Alberta I MM XUSS Market higher in early trading TORONTO (CP) - The Toronto stock market was mixed to moderately higher in mid-morning trading today. On Index, industrials rose .52 to 177.06 and base metals .27 to 93.22. Golds wee down .67 to 167.75 and western oils .22 to 201.03. Volume by 11 a.m. was 654,000 snares, down from 688,000 at the same time Thursday. Gains outnumbered losses 138 to 90 with 197 issues unchanged. Grain prices Winnipeg Grain Prices WINNIPEG (CP) - Buyers were aggressive in most commodities at' mid-session on the Winnipeg Grain Exchange today. Prices were generally stronger. Rapeseed and flax hedge offers were lighter and exporters were good buyers in both commodities. Rapeseed prices were off from the open but remained two to three cents above previous close. All flax futures were three cents higher. Barley had good commercial buying and wheat board hedges were well absorbed. Oats trade was limited to fair domestic shipper buying. Rye had mostly local and commission house trade. Overnight confirmation of sale of 1,400,000 bushels of rapeseed to Pakistan and 800,-000 bushels of barley to the Irish Republic was received. Thursday's volume of trade was 292,000 bushels of flax, 2,-834,000 of rapeseed, 225,000 of rye. Mid-session prices: Flax; May 3 higher 2.56'^B; July 3 higher 2.57; Oct. 3 higher 2.59%A. Rapeseed Vancouver: Jan. 3V4 higher 3.09%B; March 2% higher 3.01%A; May 1% higher 2.87%; July 2 higher 2.81. Rapeseed Thunder Bay: April 2 higher 2.90%; June lVz higher 2.85%B. Oats: May unchanged 89; July and Oct. not open. Barley: May V\ higher 1.32%A; July unchanged 1.31UA; Oct. unchanged 1.26. Rye: May % higher 1.18%; July unchanged I.I8V4B; Oct. not open. Prices for class two wheat Thursday for export to countries outside IGA: 1 Nor. 1.82; 2 1.80; 3 1.75%; 4 1.69%; 1 Durum 1.80%; 2 1.77%; 3 1.68%; 4 1.64% IGA prices: 1 Nor. 1.82 2 1.80; 3 1.75%; 4 1.69%; 1 Durum 1.80%; 2 1.77%; 3 1.68%; 4 1.64%. Grain quotes Thursday (basis Lakehead): ....High Law Close Flax 253% 253 253% 254% 253% 254 257 256% 256% Rapeseed Vancouver 309% 303 306% 304% 295% 298% 289% 281% 286 281 276 279 Rapeseed Thurjier Bay Apr 292% 284% 288% 284 281 Oats 89 88% May Jly Oct Jan Mar May Jly Jun 284 May Jly Get May Jly Oct May Jly Oct 89 Barley 132% 132% 118 Rye 117% 88 132% 131% 126 118 118 120% Construction official dies CALGARY (CP)-Alcxander William Purdy, former presi dent of the Canadian Construction Association, died here fol lowing a brief illness. He was 46. Mr. Purdy, native of Toronto, came to Calgary in 1958 and was vice-president and general manager of Canada Cement La-farge Ltd., Prairie region, at the time of has death. Banks, beverage and oil refining sectors made strong advances. Shell was up % to $34%, Peel-Elder % to $18, Irwin Toy % to $11R, Falconbridge % to $136, Seagrams % to $51, Cas-siar % to $23%, Hudson Bay Mining % to $21%, Roman 25 cents to $7.50 Asamera V* to $15% and Mattagami % to $24%. Canadian Imperial Bank was down 2 to $17%, Bow Valley % to 17%, Hudson's Bay Oil % to $39 and Syracuse five cents to $3.35. MONTREAL (CP) - The Montreal stock market was strong in all sectors in the morning session today, continuing a rally which began late Thursday. Trading was light and banks led me upswing. The composite index was up 53 to 174.96. Combined volume on the Montreal and Canadian Stock Exchanges was 353,100 shares at 11 a.m. compared with 407,100 at the same time Thursday. Among banks, Toronto Dominion climbed % to $19%, Royal % to $23 and Nova Scotia % to $21%. Bank of Montreal declined % to $14%. Shell Canada advanced % to $34%, Hunter Douglas % to $9%, Seagrams % to $51, Hudson Bay Mining and Smelting % to $21% and Rio Algom % to $17%. National Sea Products declined % to $9%, Du Pont' % to $16% and Walker-Gooderham % to $39%. On index, industrials were up 51 to 180.24, utilities .33 to 152.07, banks 1.11 to 175.09 and papers .13 to 93.86. NEW YORK (AP) - Another cut in the prime rate by a major New York City bank boosted stock market prices today in active trading, pushing them above their old recovery highs. At noon the Dow Jones average of 30 industrial stocks was up 3.49 points at 846.80. Analysts said the cut in the prime rate generally had been anticipated by the stock market. First National City Bank was the first to lower its prime rate to 6% per cent from 6% per cent, and several other major banks soon followed. The prime rate, the interest charged by commercial banks on loans to its best corporate customers, was lowered just last wee., to 6% per cent from 6% per cent. At noon the Associated Press 60-stock average was up 1.1 points to 296.2. Prices included Magnavox, up % at $39%; Litton Industries, up 1 at $23%; Occidental Petroleum, up % at $17%; American Airlines, up % at $27; and Ten-neco, up % at $26%. Among Canadians, International Nickel rose % to $45% and Genstar Ltd. % to $10%. Hudson Bay Mining was up % at $21V. On the American Stock Exchange, Canadian Javelin gained % at $11%, Molybdenite Canada % at $4.38, and Preston % at $8%. Beef futures WINNIPEG (CP)-Trade was fairly active Thursday on the Winnipeg beef futures market. January and March futures had transactions at prices 25 to 75 points over previous close levels, The market was inactive Wednesday. Open High Low Close Jan 31.05 31.75 31.00 31.75A Mar 31.55 31.55 31.50 31.55B May 31.25B Price index drops OTTAWA (CP) - The consumer price index dropped half a point last month to 129.8 from 130.3 in November, led by declining food prices, the Dominion Bureau of Statistics reported today.. It was the first November-to-December drop in the over-all index in more than a decade. The index, based on 1961 consumer prices equalling 100, was 127.9 in December, 1969. The year's increase, therefore, was a narrow 1.9 index points or 1.5 per cent, the smallest since 1964. Along with a significant drop in food prices, there were declines in the clothing, health and personal care, and recreation and reading components of the over-all index. The only increases-and they were fractional-were in the cost of housing and transportation. It was the fourth consecutive month that food prices declined. From the food index's peak of 131.9 in August, it dropped to 125.6 last month, down 4.2 index points from Deceber, 1969. The bureau said the latest decline in food prices was generally across-the-board, except for some increases in the prices of fish and fresh produce. Some pre-Christmas Bales of clothing pushed that component of the over-all index down half a point to 127.9 from 128.4 in November. Potato futures WINNIPEG (CP) - The Maritime potato futures market had moderately active trade Thursday. In the May future where prices were one to three cents over previous close. Wednesday's volume of trade was one contract. Open High Low Close Mar 2.50A Apr 2.68N May 3.08-.10 3.10 3.08 3.10 pools! pools! We ore looking for an aggressive dealer to sell our line of swimming pools In this area. Buy direct from the manufacturer and make more money.  Canadian made  Fully guaranteed  Top quality product  Good profit ACORN POOLS 325 Bay SI N., Hamilton, Ont. - 522-6854 DIVISION ACORN LUMBIR CO. In Business ever SO Years. Pyramid sales legislation considered EDMONTON (CP) - The at-torney-generaTs department is considering legislation to control or limit the operations of some pyramid sales operations, a spokesman said here. The form of the legislation had not been determined. A spokesman said complaints have been received from a number of participants in one pyramid sales operation in which cards are sold to give persons a 10-per-cent discount on goods purchased at certain stores. "There is no legislation at present to cover the operations of such schemes," a spokesman said. Cash drought dries up farm machine sales OTTAWA (CP) - The cash drought on many farms last year dried up implement and equipment sales', according to Dominion Bureau of Statistics figures released here. A group of major implement manufacturers estimated that sales dropped 11.6 per cent to a value of $332.5 million during the first ten months of 1970 compared with $376 million in the same 1969 period. Even spare parts sales fell 2.8 per cent to an estimated $58.8 million from $60.5 million between January and November in 1969. Farmers bought 16,727 tractors during the period compared with 18,659 in 1969 and combine sales dropped to 2,886 from 4,248 the previous year. The sale of automatic hay balers decreased to 5,635 units from 6,375 in 1969. Albertan dies in car plunge LYTTON, B.C. (CP) - Lee Ray Thomas, 25, of Edmonton, was killed when his car left the Trans - Canada Highway at the north end of the Fraser Canyon and plunged about 60 feet down an embankment. Passenger Kenneth Aldi, 21, also of Edmonton, is reported to be in good condition in hospital here. Hog prices EDMONTON (CP) - Hog prices to 11 a.m. today provided by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 21.65, average Thursday 24.06. Red Deer: No sales, average Thursday 23.71. Calgary: Quoted 21.55 to 21.65, selling 21.65, average Thursday 23.08. Lethbridge: No sales, average Thursday 23.70. Lloydminster: No sales, average Thursday 24.46. Hogs sold to 11 a.m. 106. Hogs sold Thursday 6,874, provincial average 23.88. Sows 13.05, Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE Friday, January 15, 1971 - THE LETHBRIDGE HERAID - 17 (11 iM a.m. QuetM> til too t.m. ovotss) (11 iM e.m. Quarts) WBSTIRN OILS 5JS �5.95 15.35 12.50 5.15 5.20 4.45 �.M 7.M 7.6S 11.50 1.27 32.25 1.(7 .17 7.15 1,40 .71 1.4S M 1.25 .51 Alt* East Oat Almlnex Asamere Banff b. p. on can Southern Can Exp Oat Ashland Orld can Heme Cdn Indus On Cdn Long Is Cdn Super cent Del Rle Charter Chieftan Dome' Pete Dynam Pete Gf Plaint Mill City New Cont North Cdn Oil Numae Pernio Patrol Pinnacle Place Oat Ponder Ranger Scurry Rain Spooner West Deeelfe MfSeiLLANIOUS INDUSTRIALS Agra Veg 7.50 Atco Indue Aquatelne Brit Nfld Corp Cdn Brew A Cdn Brew B Cdn Hyd Carb Cdn Pac Inv CPR Ptd Crowtnttt Ind Cygnut A Cygnus B Cum Prop Gt Cdn Oil Sdt Gt Cdn Oil Sdt Home Oil A Home OH B Horne and Pit Hud Bay Co Hud Bay Oil Hud Bay Oil Hugh Rut Pfd Husky Oil Husky Oil B Husky Oil War Inter Pro Pipe Int Utll ptd Inter Steel Jett Lake Joutel Kaiser Ret .., Kam Kotla 11.371A Like Ont Pt .55 M.G.F. Man 37.50 Mentor 12.37V* Newconex i,75 Pee Pate 16.50 Cmnw Lev S.01 3.30 43.00 Corp Invest 5.24 5.73 1.50 Corp In St P 4. Tr Cdn P Pfd 42.00 AVmih,2�. r�� JS Tr Cdn P Pfd A 63.00 Cepper �� Tr Cdn P War U.37V* SEE* 5,Siv* Westcoatt Tr 22.50 West Pacific 5.12V* SiT fL�",nMln.. MUTUAL FUNDS rJCg?nP HMIc'op 2.43 Primer 7.16 7,12 Pyramid 8.22 8.98 Silver Stand 3.30 3.60 Texmont 4.91 5.39 Tro|an 4.40 4.83 Westrn Mines 5.79 6.35 Western Explor 11.82 12.95 Utlca 5.25 14.371/* 3.90 100.00 AGF Special 28.50 All Cdn Com 28,25 All Cdn Dlvld 2,oo All Cdn vent 15.871/4 Amr Gr F 38.75 Cdn In F 55.50 Col Mutual 21.00 Cmnw Inter .14 .60 .15 .11 4.30 7.75 16.62'/* 15.50 4.25 1.16 7.00 1,55 6.121/* .23 5.50 13.50 .55 4.30 10.621/* .25 2.90 2.40 6.00 .10 .11 6.30 42 8.50 1.87 3.25 .16 .36 1.41 .47 .30 3.75 .28 .55 Toronto mines, industrials Supplied by Richardson Securities of Canada LAST BID OR SALE 111:00 e.m. Quetet) ni:00 a.m. Quotes) 111:00 a.m. Quotes) MINIS Acme Advocate Atb. Akaltcho Area Mires Black Bay Bralorne Broulen Bethlhem Brunswick Canada Tung. Castlar Central Pat. Chlmo Conwest Cons. Rambler Coin Lake Cochenour Cralgmont Dickenson Mine Denlson Mines Deer Horn D'Eldona Dome Minet Donalda Discovery Mlnea East Malartlc East Sullivan Falcon brldoe Frobex First Marltlmet Giant Y.K. Gunnar Granduc Headway R.L. Holllnger Hud. Bay M-S Hydra Ex. Highland Bell Iron Bay Iso Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leitch Langis Silver Madsen R.L. Malartlc G.F. Martin McNeely Maybrun Maclntyre Meta Mldrlm Intern Mogul New Athona New Calumet .43 1.70 .07 1.80 .24 15.25 4.90 1.90 23.25 2.45 1.72 �.7S .86 .14 New Imperial �07i/i Noranda 107 Northgate OpemTska Oslsko Patlno Pine Point Placer Dev. P.C. Exp. Quebec Man Rayrock Radlore Rio Algom Roman Corp. Sllverfleldt Sherrltt Gordon Silver Miller .44iy* Steep Rock 9.00 Slscoe 1.30 Tek Corp. 17.00 Texmont .07 Upper Canada 1.00 Western Mines 59.00 Wright Har. .18