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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 15, 1975, Lethbridge, Alberta Wodnosday, January 15, 1975 THE LETHHRIOGE HEKALD 19 The HeraW- Business Trading light at mid-sessi Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN AND Oilfield Albany Alia East Grp BP A Brenda Cda Cdn Ex Gas Trk Cdn Gas Trk Cdn Ind Gas Nat Cdn Long Cdn Metro A Chieftan Nat Dome C S C Gas B Giant Gibraltar A B Gl Cdn Oil Lochiel Lytton Trans North Cdn Pancdn Vi Pan Place Ranger Scurry Total Ulster United West West Acres Aquitaine BC Sugar C August Block Canbra Int'l Cdn Pac Inv A Cdn Pacitic Cdn. Carling O'Keete A Cdn. Carling O'Keele B Cdn. Comm Cap Growth Crestbrook Crowsnest investment Falcon F S M Int'l Home Oil Home Oil Invest Stock Hud Bay Fund Hud Bay Growth Hud Bay Oil A Hugh Husky Husky Oil B Husky Oil E interprov Pipe Intsrprov Steel Kaiser Kaiser Res Loblaw Co C Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartlc East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger A Hudson Bay MSS A Hydra Ex. Iron Bay Iso Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Maclntyre Meta Midrim Intern Mogul NuWest Homes New Alhona New Calumet Noranda Northgate Norlex Pine Point Placer Dev. 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 INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Agra Ind Bell Tel Brascan A BC Tel .07 1.08 1.45 1.49 .34 9.25 1.15 4.00 2.62 2.45 3.80 .84 .90 2.45 1.56 .14 1.00 3.40 7.37V4 40.75 .26 47.00 2.01 3.15 1.55 27.50 .12 .37 10.6214 1.11 27.75 15.50 .51 Burns BC Forest BC Sugar Bow Valley Ind Cable. CAE Ind Cal Power Canbra Foods Can Cellulose Carling O'Keefe Chemcell Coron Credit CWN Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Doiasco Glen Mobile Grt Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound 9.75 11.75 18.6214 11.6214 10.50 6.87'A 2.40 4.30 2.21 3.90 1.55 8.00 17.62V4 2.80 12.50 9.00 14.75 25.75 24.25 14.6214 32.75 20.25 18.75 7.25 16.50 21.37V, 23.25 1.60 6.50 36.25 15.00 26.50 13.25 Stock prices dip continues TORONTO (CP) The To- ronto stock market retreated again Wednesday after recording its first decline of the year the previous day. Trading was light at mid- morning. Profit-taking and an uneasy New York market contributed to the decline. On Tuesday, prices closed moderately lower, ending a strong 12-day rally. The industrial index, wide- lybased indicator of market trend, fell .67 to 168.76, golds 1.69 to 383.70 and western oils 135.76. Base metals gained .16 to 62.61. Moore was off to Crown Zeilerbach A Vi' to Falconbridge Nickel to Toronto Dominion Bank to and Canadian Imperial Bank to Dickenson Mines lost Vt to Sherritt Vt to and Bankeno eight cents to United Canso was off Vt to and Oakwood one cent to 77 cents. Keeprite B rose to Bell Canada 'A to ?45% and Greyhound Lines United Siscoe was up 15 cents to Brunswick 10 cents to and Discovery nine cents to Sunningdale gained five cents to and National Petroleum cents to 33 cents. Market Billion dollar natural gas project in north proposed Winnipeg grain WINNIPEG (CP) Most oilseed failures continued to ease in price as activity picked up through mid-session Wednesday on the Winnipeg Commodi- ty Exchange. Other commodities hovered at or near Tuesday's close. Mid-session prices: lov Oct. unchanged 7.27A. Vancouver rapeseed: Jan. 11 lower 7.62KB; Mar. lower June five lower 7.69A; Sept. 10 lower 7.40B. Flax: May 11 lower 9.15: July nine lower 8.95A; Oct, unchanged 8.65A. Feed wheat: May one lower 3.94; July and Oct. not open. Corn: Mar., May Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Wednesday at the Calgary public stockyards totalled head, with a Trade was moderately actice on ail classes, meeting a moderate demand from local and eastern buyers. Slaughter steers weighing more than pounds sold 50 cents lower. Slaughter heifers traded steady. There were insufficient Dl and D2 cows on offer to establish quotations. There were also insufficient bulls sold early to establish a market. Oct. not open. Grain quotes Rapeseed Thunder Rapeseed Corn basis Feed 35.50. Cows, D3: Ili-17. D4: 12-15. A heavy run of yearling feeder steers sold to a moderate demand. Good feeder steers more than 750 pounds: 36-39; 575-750 pounds: 33-36.50. No hogs were sold to 11 a.m. Metals LONDON (AP) Closing metals Copper-Spot 528-529.5; futures 548- 549 Tin-spot futures 227.5-228; futures 2175- 218 Zinc-spot 348-349; futures 323-324 182.5-183; 3 months 188.3-1S8.5 A Nickel Pipe .08 Grp A In'tl Ltd Douglas A A Ferg Bleed Corp A B Cent Corp Co CDA Sears Can A A Grp A 1.52 1.45 Mtn Pipe Trans Can Pipe Union Carbide Gas Oil Siscoe Mfg A Imperial 45.62 Scotia 11.37V4 Tor Dom WINNIPEG (CP) Gold futures. U.S. funds, Winnipeg Commodity Ex- change close Tuesday. 400-ounec contracts: Jan 75 177.40A; April 75 180.25; July 75 184.05; Oct 75 189.00A: Jan 76-I93.10A. Monday's volume: 37C contracts. 100-ounce contracts: Feb 75 I77.40B: May 75 181.80B; Aug 75 187.25A; Nov 75 190.30B; Feb 76 195.40A. Monday's volume: 139 contracts. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Wednesday was down 7-50 at 27- 50. Pound sterling was up 6-25 at 7-100. In New York, the Canadian dollar was up 7-50 at 51.00 23-50. Pound sterl- ing was up 57-100 at 3-20. Chicago markets CHICAGO again hit soybeans the Board of Trade Tuesday, but grain futures staged a recovery. Soybeans lost 6 cents a bushel and soybean oil was down about 70 points. Initially, soybean oil took a limit loss of 100 points, or 1 cent a pound, and beans were down 16 cents. Meal was lows and rallies with short covering and new buying sent wheat and corn prices higher. The buying was thought to have been influenced by reports that small grain production in Russia might be un dergoing lack of moisture problems. Gold futures rallied from a S3 defici to close steady to about higher. At the close, soybeans were 2 to 6 cents a bushel lower, Jan. 6.59; whea 3 to G higher, March 4.27; corn IVi lower to higher, March 3.41 and oats lower to 1 higher, March 1.64'A. Grain close Wheat: Mar 4.27; May 4.23; July 3.98; Sept 4.05; Dec 4.16. Corn: Mar 3.41; May 3.41; July Sept Dec 2.861.4; Mar 2.91 VS. Oats; Mar May July 1.57; Sept 1.53; Dec Currencies MONTREAL (CP) Wednesday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.0100 Mexico peso .0805 Spain peseta .0185 Switzerland franc .3930 United States dol United Kingdom pound 2.3700 U.S.S.R. ruble 1.3254 Quotations in Canadian funds. York (Supplied by Richardson Securities of Canada) Amr. T T 47.75 Woolworth Anaconda 15.50 Westihghouse Elec 1137V5 Beth Steel 27.25 U.S. Steel 40.00 Chrysler 9.00 Gen Tel Elec 1975 Comsat 30.75 TORONTO AVERAGES Dupont 95.00 20 Industrials 168.86 down .57 General Motors 20 Golds 383.21 down 2.18 Gull 10 Base Metals 62.20 up .15 Inl Harvester 20.37VS 15 Western Oils 136.78 down .57 Kenn Copper Volume 727.000 Montgomery Ward 17.00 NEW YORK AVERAGES Sears 54.75 20 Industrials 651.44 up 2.74 Exxon 69.00 20 Rails 152.86 up 1.48 Texas Gull 25.00 15 Utililies 77.10 down .10 Texas Co 65 Stocks 213.63'up 1.01 Wix Corporation 10.75 Volume (CP) Prices were lower in light trading on the Montreal Stock Exchange Wednesday. Hanks fell 184 papers .95 to 101.22, the composite .05 to 168.88 and Industrials .60 to 171.42. Utilities rose .19 to 129.80. Aquitaine fell IV, to lioyal Canadian Javelin Vi lo and Toronto-Dominion Bank to 535. Woodward Stores A rose 2% to Bell Canada to (45% and Alcan 'A to Among speculative issues, Silver Stack Mines Fell one cent to 90 cents after trading shares. VANCOUVER (CP) Prices were up in light trading on Hie Vancouver Stock Exchange Wednesday. Early CALGARY (CP) A ?1- billion project to develop proven natural gas fields in the Mackenzie Delta has been proposed by three oil com- panies. Gulf Oil Canada Ltd., Imperial Oil Ltd. and Shell Canada Ltd. have submitted a proposal to the department of Indian and northern affairs for permission to construct two gas processing plants and five clusters of gas wells in the Taglu, Niglintgak and Par- sons Lake fields. West Germans operate farm and July not open. .Barley: May un- changed 3.04A; July IVfe higher Ocl. not open. Oats: May one was unchanged at .85. In the mines, Cutlass was down .01 at .20. In the oils, Princess Ventures was unchanged at .20. Prices were up Tuesday in light trading. Volume was shares. In the industrials, Bank of B.C. rights was up .05 at .40; Canadian Javelin down .12'A al Bank of International Hydro down .02 at .2B and Key Industries down .01 at .07. In the mines, Dalton up at .19; Geo Dyne up .01 at .18: Anglo Fiomarc up .03 at Sonesta up .01 at .19: Cutlass up one-half cent at .21 and Consolidated Beaumont unchanged at .20. In the oils. Bison Petroleum un- changed at Comaplex unchanged at .20: Cop Ex Mining down .01 at .15; Payette unchanged at .13; Stampede down .02 at .65 and Monterey A un- changed at .14. Volume on the curb exchange was shares. Petrowest was up at .20; Beerrnaster down .01 at .49; De- cade up .04'A at Olympian up .02Vfe at ,39Vz; Acaploma down one half cent at .13 and Spirit Exploration down .02 at .04. NEW YORK (AP) The stock market overcame some early hesita- tion to post a slight gain Wednesday on EDMONTON (CPJ.-Tive West Germans have establish- ed a corporate farm IQ-miles east of Edmonton combining portions of six former family farms into a grain- producing operation. Vtket Farming Ltd., whose president is Baron Dr. Felix and have purchased shares in a machinery, buying co- operative and in a seed clean- ing plant. The operation is the second largest farming operation es- tablished in the County of Strathcona by West German crnment. The noon Dow Jones average of 30 industrials at 651.44. Gainers outpaced losers by about an 8-7 margin on the New York Stock Exchange. At the American Stock Exchange, the market-value index was down .20 to 67.02. The NYSE composite index of all its listed common stocks was up .18 at 38.30. Among Canadian issues on the NYSE. Dome Mines dropped to Hiram Walker to Alcan to and Campbell Red Lake to Canadian Pacific remained unchang- ed at as did Seagrams at and International Nickel at Feed prices P) Wheat board IHI prices Tuesday: 3 CW Red Spring wheat No. I feed barley 3.04; No. 1 feed oats 1.96. Schell of Goch, West Ger- many, now is negotiating to purchase another 320 acres and the operation will be bas- ed at Rustling Heights Farm. Rustling Heights was sold to the firm about five years ago and enlargement of the holding started last year. Allan Hodgins, a 17-year employee of Sherrit Mines refinery at nearby Fort Saskatchewan will be farm manager. He will have one other full-time staff member with additional manpower recruited during seeding and harvest periods. Mr. Hodgins said Tuesday his employers intend to make Viket a part of the community Sells interest TORONTO (CP) Nor- man, Craig and" Kummel Inc. of New York will sell a 55-per- cent interest in its Toronto- based subsidiary, Norman Craig and Kummel Canada Ltd., to a Canadian group headed by Hugh Bonney, former executive vice presi- dent of MacLaren Advertising Co. Ltd. of Toronto. The advertising agency will be renamed Bonney Edwards Smet NCR Ltd. with Mr. Bonney as president and William Edwards, former president of Norman, Craig and Kummel as chairman. Johannes von Thuni und Taxis of Regensburg owns 960 acres in the Clover Bar area two miles east of Ed- monton. The two farming operations are part of the 1.2 per cent of Alberta farmland which the Alberta land use forum study believes is held by foreign nationals. I I HJ) J LONDON (AP) The price London's five major dealers fixed the morning price at an ounce, up from at the close Tuesday. Trading in Zurich opened at It also closed Tuesday at The price of the metal has been erratic this week and trading has been light. Dealers say this indicates un- over future trends. SEEK STOCKS TOKYO (AFP) Kuwait plans to buy at least million of Japanese corporate stocks this year. Kuwait seeks stocks whose prices will rise in two to five years. The production facilities, producing a total daily 1.5 billion cubic feet of gas, would tie into the proposed Canadian Arctic gas Study Ltd. pipeline to southern markets. The three company proposal is contingent on the Arctic gas pipeline being approved by the federal government, company of- ficials said. Northern Affairs Minister Judd Buchanan has establish- ed a federal government Northwest Territories study group to consider the gas development plan and to dis- cuss the project with com- munities in the Mackenzie Delta. Among the facilities to be constructed are two gas processing plants one at the Taglu field, processing a daily one billion Cubic feet of gas from the Taglu and nearby Niglintgak fields, and another at the Parsons take field processing 500 million cubic feet per day. One cluster of gas wells would be located at the Taglu field, another at the Niglintgak field and three clusters at the Parsons Lake field. A labor force of more than workers would be needed to construct the necessary drill pads, gathering lines, roads, airports and gas processing facilities. Construction would take three years with initial production in 1979. The Atctic gas pipeline, if approved, is scheduled for completion in Sales down DETROIT (AP) United States auto sales during the first 10 days of 1975 could be headed for their lowest level in the post-war period. Figures released Tuesday showed sales across the in- dustry were down an es- timated 33 per cent. With three of the four major auto companies reporting Tuesday, sales declines from 1974 levels ranged from 27 per cent at General Motors to 52 per cent at American Motors. Chrysler deliveries were off 47 per cent. Some days we donY sell any insurance. That may seem a bit strange, but then, we offer a lot of things other than life insurance. For instance, we offer some excellent financial planning programs. We can show you how to minimize taxes through income averaging annuities. We'll show you how the capital gains provision of income tax legislation affects you. We'll show you how to take the right steps to protect your capital. And we can custom- tailor a Registered Retirement Savings Plan to meet your specific objectives. And that's just a part of our financial planning services for individuals. We can also offer a comprehensive Business Planning Service, including employee benefit programs, to the businessman. In short, we do a lot more than sell life insurance. So maybe it's time you started thinking of us as something more than just life insurance men. You'll be surprised how helpful we can be. The Manufacturers Lilu Insurance Company 327-5514 Thinking with you. To: The Manufacturers Life Insurance Company Suite 310, 740-4ih Ave. S., Lethbridgc, Alberia I'd like to know more about; Deferted profit sharing plans. Income averaging annuilios. I__J Business planning services. L__I How to protect my capital, Capital gains taxes. Flexible Registered Retirement Annuity. Life insurance j-----1 (yes. we sell that, too.) L__I D D ADDRESS- CITY_____ POSTAL CODE ;