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Lethbridge Herald Newspaper Archives

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Lethbridge Herald {Newspaper} - 1974-01-16,Lethbridge, Alberta Feed grains policy may lose sales WINNIPEG (CP) - The bead of the Canadian Grain Commission predicted Tuesday the Canadian Wheat Board will lose most of its market in feed grains as a result of the federal government’s new feed grains policy. Chief commissioner H. D. Pound said the new policy won’t likely mean as big a loss of power for the wheat board as some people claim but there is no questitxi the board could lose most of its 100 million bushel market. “This will be replaced by private trades,” Mr. Pound said. “While the government is not introducing the policy for this to occur, it has its priority to treat all farmers in Canada equally.” Mr. Pound said the policy will give prairie farmers a much stronger off-board market due to competition, while still ensuring them the right to deliver all their grain to the wheat board if they so desire. Contracts for natural gas offered VANCOUVER (CP) - The British Columbia Petroleum Corp. is offering new contracts to B.C.’s 70 natural gas producers that will add an estimated $41 million to their revenues this year and give them an average price Increase of 82 per cent. The price schedule was mailed to the producers Tuesday night. Most of the mail was addressed to Calgary, where oil companies maintam their Canadian exploration offices. "We have accepted the premise of the industry that a good wellhead price would attract exploration and result in iievelopment of our reserves,” corporation chairman James Rhodes said Tuesday in an interview. He said :.the. new wholesale prices — 6i cents a thousand cubic feet at the U.S. border, 58 cents to B.C. Hydro and somewhat less to Inland Natural Gas and Pacific Northern Gas — would yield increased gross revenue in 1974 of about $100 million. Of this, about $41 million would go to producers, he said. U.S. car sales take beating DETROIT (AP) - The big three United States automakers took a beating during the first 10 days of the month as sales of Un Tlic Herald-WvdttMday, Jinuary IS, 1974-THE LETHBRIDOe HERALD— 3« Business Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN OILS AND MINES Atton Minas Albany Oil Alminex Asamera Ashland Oil' Alu east Gas BP Canada BrenOa Mines Can South Cdn Ex Gas Ccin Homestd Cdn Ind Gas Oil Cdr Long Is Chieflan Cdn Super Donne Pete Dynasty Fofl Reliance Giant Mascot Glbrallar Mlnss Granlsle Qt Plains Gt Cdn Oil S LoChlel E)( Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Seibens Spc>oner Total Fete Ulster Peta United Canao West Pete W Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar A Pid Block Bros Cdn Pac Inw A Pfd Com Cap Corp Carling O’KeafO A Pfd Carling O’Keefe B Pfd Crestbrook Ind Crowsneat Ind Falcon Copper F and M Trust Genstar Global Comm Unit Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky 0 War Husky E War Hys of Canada inter Prov Pipe Inter Prov Steal Kaiser Res Loblaw C Pfd Magnasonics Pacific Peie Pacific West Air Pe-Ben. Olldeid Rainier Inc Royal Turst SaridwfltI    ■ 8.00 ,72 7.00 MMVi 7,60 11.50 111 5.25 3.55 7.25 9.00 .is 1Ö.2S se.sT'A 40.50 9.25 .22 2.40 11.25 e.50 29.00 11.00 2.75 1.06 ' .SO 6.37’A 16.50 1Ì.7S 16.25 1.80 .21'/i .43 .55 42.50 21.75 17.50 .33 7.12‘/4 1.37 21.S2'A 6.00 8.25 10.75 25.37'/t 14.00 3.60 34.12^4 2.50 24.50 28.37'/i 8.25 26.50 11.00 5.00 16.50 40.00 51.00 46.25 .17.50 47.25 50.00 50.50 22.50 39.00 7.50 9.75 3.45 7.25 13.60 4.30 25.00 5.75 32.00 5.00 6.50 3.87'^ 26:50 . 5.50 4.10 8.25 4.10 1.25 69,50 9.00 Teledyne Tfimac West Cdn seed Westfield Mirt Weston A Pld White Yukon PIPE LINE STOCKS Alta Gas A Alta Gas Pfd Alta Nal Sas Inland Nai Gas Gaz Metro Gaz Metro A Pld N and C Gas N and C B Pfd Pacific Trans Trans Canada Pipe Tr Can A Pid Tr Can B Pfd Tr Can War WC Trans WC Trans Wts CALGARY Aero 11 Barons Oils N Continental West Warner VANCOUVER MINES Atlas Explor Bath Norse Dankoe Davenport Dolly Varden Equitorial Res Lornex Primer Pyramid Silv Stand Val Copper INDUSTRIALS Colum Brew Key Industries Wardair OILS August Pete Plains Pete Pond EKplor Stamp inti Res MUTUAL FUNDS All Cdn Compound 6.36 All Cdn Dividend    6.7i All Cdn Ventures    3.35 Amer Grow F    4.61 AGF Special    2.S2 Cdn Inveat F    4.65 Collect Mut    5.05 Com Inter    13.0S Com Leverage    3.06 Com Venture    5.2S Corp Investors    6.19 Corp Invest S F    4.84 Dreyfus F US    10.44 11,44 Grt Pacific    4.44 4,85 Grpd Income    2.99 Grow Equity    7.21 Invest Grow F    11,51 Invest Mutual    5.56 Mut Accum    6.09 Mut Grow F    3.14 Nat Res    4.74 NW Cdn    5.07 NW Growth    4,37 Principal Grow    5.96 Provident Mut    7,16 .Royfund    6.67 Temple Grow    7.09 Unit ACCum    4.48 Univers Sav    7.81 univest    5.68 Vanguard    5.70 11.00 66.00 19.87-/4 9.62’^ 6,37Vt 65.50 11.25 21.12',^ 10.87'A 33.« 61.00 37.12% 5.ZS 22.11% 3.70 .57 .04 .02 .30 .35 1.18 2.1S .33 .26 .15 9.35 .09 .12 1,70 9.30 3,05 .17 1.45 .75 .21 .70 .74 6.91 7.31 3.64 5.29 5.32 S,.S4 6,80 5.32 3.29 7.92 12.68 6.07 6.66 3.45 5.21 5.57 4.80 6.51 7.83 6.94 7.77 4.92 B.S9 6.22 6.2S Toronto mines, industrials (Supplied by Richardson Securities of Canada) ted States cars plunged 27 per cent from last year, . General Motors was hardest hit with sales 43 per cent lower than in 1973. Ford sales were down 14 per cent and Chrysler seven per cent. American Motors, with smaller cars predominant in its car line, sold 33 per cent more in the first third of the month compared with the same period last year. Pound drops to new low LONDON (CP) - The pound, badly hit by domestic industrial strife and higher oil prices, dropped today to a new all-time low against the United States dollar on the London foreign exchange markets. It was traded at I2.1632S. It has lost more than six cents in the last two days. The pound closed Tuesday at ¥2.1880. Today’s fall follows a warning by Gordon Richardson, governor of the Bank of England, that Britain faces "years of relative austerity” if its large trade deficit is to be corrected. British trade was in the red by &2.S billion (about |5.5 billion) in 1973. Sterling also weakened in Frankfurt, opening on the West German foreign exchange market at 6.165 marks to the pound, dealers said. This was four pfennig down on Its closing rate Tuesday night of 6.205. The U.S. dollar opened at 2.S310 marks and then climbed in morning trading to 2.8390. Tuesday night’s rate was a.KW, NI:«:;:*:';;«RRHii!Vi^«.vorn-».-.->.1 MINES Burns 14.25 Acme .10'À BC Forest 18.50 Advócale Asb. 1.30 BC Sugar A 19.37'.^ Akaitcho Z,10 Bow Valley Ind 28.07’.^ Bralorne 1.90 Cable 14.25 Broulan ,62 CA£ tnd 8.75 Bethlehem 14.37% Carling O’Keefe 3,00 Bovis 1.92 Chemcetl 5.12% Brunswick 4,80 Cdn Cellulose $.62% Can. NW Land S,00 Cal Power 22.50 Canada Tung, 3.10 Coron Credit 2.25 Cassiar 9,75 CWN Gas Pfd 10,00 Central Pat. 1,10 Cdn Indus 18.62’..4 Chimo 1,02 Cdn Marconi 3.H0 Conwest 4.75 Cdn Vickers 15,00 Cons, ñambler 2.67 Chrysler CPR 17.12’A Coin Lake ,17 15,25 Cochenour 1.0S Cominco 32.75 Craigmont 6.12'A Cons Bathurst 25.07’,Í! Dickenson Mines 6,37',4 Cons Gas 16.00 Dsnisor Mines 51.00 DIst Seagram« 40,75 D'Eldona .41 Dom Bridge 36.00 Dome Mines 176.00 Oomtar 21.87'^ Discovery Mines 1.03 Oom Textile 8.75 East Maiartic 5.7S Dom Stores 12.12'^ East Sullivan 2.3B Dome Pete 40.25 Falconbridge 57.00 Dofasco 27.60 Frobex .22 Glen Mobile 6.25 First Maritlmes .66 Grt Cdn Oil 10.37'A Giant Y,K. 10.75 General Motors 48.75 Granduc 3.50 Grt Lakes Paper 24.00 Hoilinger 46.00 Gull Oil Cda 32.75 Hudson Bay M&S 24.62% cSreyhound 17.75 Hydra Ex. .36 Hawker Sid 4,30 Iron Bay 3.65 Hiram Walker 47,75 Iso 1,97 Huron Erie 29,75 Joliet Quebec .23 Imperial Oil 39,37’/j Kerr Addison 13,12'A Imasca 27.75 Key Anacon ,27 Int Nickel 35.07VJ Labrador 42.00 Inl Pipe 21.50 Lake,£>hore 5.25 Inv Group A ■ 8.25 Langis Silver Madsen H.L ,06 lU Intern'l 16.00 2.60 tndust Accept 16,62',^ Maiartic G.F, 1.25 Kaps 4.50 Martin McNeely .37'A Kelly Doug A 5,12'/i MacIntyre 53.00 Lflurentide 0,62'^ Meta ,13'A Loeb 3.65 Midrim .16 Loblaw A , 5,00 Intern Mogul 0-50 Metropolitan 'Mass Ferg 10.50 Nu West Homes B.7S 16.75 New Alhona .18’A McMil Bloed 29.25 New Calumet -29 Msore Corp 49.25 Noranda 49.00 Molsons A 22.50 Northgate 5-37% Molsons B 20.75 None* .26% Nachurs 15.00 Pine Point 31,50 North 4 Cent 11.00 Placer Dev. 22.SO power Corp 10,25 Pax Exp. 1.30 Price Co 13.75 Quebec Man .16 Rothmans 14,00 Rayrock 1.11 Shell CDA 19.37 V, Radiore .30 Simpsons 7.62« Hio Algom 33.50 Simp Sears 11,00 Roman Corp, 13.00 Steel Canada 28,75 Sherritt Gordon i3.e7'/i Selkirk A 13.50 Steep Rock 2.Û5 T exaco 44,25 Tek Corp. 3.Ô5 Traders Orp A 14.87W Texmont .20 Trans Mtn Pipe 14,75 United Canso 21.S2V, Trans Can Pipe 32,87W Western Mines 3,20 Union Carbide 16.00 WH Copper Mines 3.00 Union Gas 10,00 Wright Hargreaves 2.50 Union Oil 13.62'A Willroy 1.20 United Sfscoe e.87'A Windfall 179,00 Versatile Mfg 6.25 Yellowknife Bear 5.67% Westeel 18.00 Zen mac .08 Westons 19.00 industrials Woodwards A 18.62’^ Abitibi ■ 11.62’,4 West Cdn Seed 4,10 Alcan , 36.87'A Zenith Efec 2.80 Algoma Steel Ateo ind A 20.00 14.7S BANKS Jannock 5.75 Cdn Imperial 26.62W Agra Ind 10.00 Montreal 16.37’A Bell Tel 40,12W Nova Scotia 35,00 Brascan A 16.00 Royal 34.12'A BC Tel 4B.00 Toronto-Dom 34.50 Oil, mine issues lead advance STOCK PRICES REMAIN UP Chlcaflo markets Amr, T»T 50.37 W Anaconda 26.37% Beth. Steel 35.2S Chrysler 17.37’,4 Comsat 36.87'A Dupont 164,75 General Motors 49.12% Gull 23,50 tnl. Harvester 25,75 Kenn. Copper 44,12',4 Montgomery Ward 20,50 Sears 62.12% Exxon . 89,37'/> Texas Gulf 33.50 Taxes Co. 29.37'^ Wi* Corporation 14.37',i TORONTO <CPt - Prices gn Uie Toronto slock market remained moderately higher in active midmorning trading today. The industrial index, considered the main indicator of market trend, was up to 208.44. base metals .33 to 101.0& and western oils 2.11 to 2EI.43. Golds were off S.« to 527.94. Declines outnumbered advances 143 to 1J9 with 1S4 issues unchanged. Volume by lla.m, was 1.05 million Shanes compared with 991.000 at the same lime Tuesday-Industrial mining, real estate, pipeline and oil refining issues were among sectors c£ the market to advance while bank, general manulac-turing, paper and forest and com munication slocks were lower, Na-Churs Internatiunal was up to $15' Shell Canada 1 to tl9‘i. Occidental Pete 1'» '.o $12iis. Inco to tM'i. and Pacific Pete 'i to *32. lU international was off to 115’» and Canadian Occidental U to 111. MONTREAL I CP) - Prices were i;enerally higher in li^t trading on the Montreal stock market today. Volume on the Montreal Stock Exchange was 534.300 Shares, compared with <19.600 al the same time Tuesday. Industrials rose 1.48 to 233.47. the composite 1.10 to 218.75. banks .22 to 258.22. and utilities .21 to 13S.19 while papers fell .77 to 123.33. Francana Oil and Gas rose H to 110“I. Algoma Steel ’■i to $20‘i and Winnipeg grain WINNIPEG (CP I - After a cautious open, futures prices dropped in moderate trade at mid-session today on the Winnipeg Commodity Exchange. Flax, which was up several cents a bushel at the <^n, eased as much as ten cents at mid-session. Rapeseed was down the trading limit of 20 cents in several months. Rye eased to between 10 and 15 cents a bushel lower than Tuesday’s close as buyers were in scarce supply. There was no activity in oats or barley. Volume o - e Tuesday was 439,000 bushels o( flax, i,97S,(JU0 ot rapeseed, 979,000 of rye, and no oats or barley, MID-SESSION PRICES: Flax: May S lower 10.T3A, July S lower 9.93A, Oct., Nov. not open. ' Currenclas MONTREAL (CPi - Wednesday s mid-day foreign exchange nominal selling rates supplied by the Bank of Montreal: Australia dollar 1.49 Bermuda dollar 1.02 China renminbi .4950 Denmark kroner .1550 Prance franc financial .1980 Germany mark .3575 Italy lira commercial .001620 Japan yen .003360 Switzerland franc .2990 United States dollar .9945 United Kingdom pound 2.21 U.S.S.R. ruble 1.3395 (Juotations in Canadian funds. Oold futuras WINNIPEG (CP) — Gold futures. U.S. funds. Winnipeg commodity eji change close Tuesday. Jan 74 - 126.50; Apr 74 - 131.75; Jly 74 —136.75; Oct 74 — 142.20A; Jan 75 — 147.00B. Monday's volume; 444 contracts. Gold prieas LONDON lAP) — Closing gold prices in U.S. dollars an ounce: London — 127.25 Paris — 123.78 Frankfurt - 12S.33 Zurich - 127.00 Hong Kong - 122.80 Beirut - 3.978 a kilo. Rapeseed Vancouver; Jan unchanged 7.52A. Mar IB lower 7.16B. June 20 lower ti.94A. Sept. 20 lower 6.73A. Rapeseed Thunder Bay: May 20 lower 6.82A. July 13 lower 6.72A, Oct. 3 lower 6-35A. Nov. unchanged 7.17A. Rye: May 15 lower J.TO",.!. July 15 lower 3.57A. Nov. 10 lower 3.52A. WINNIPEG (CPl - Grain Tue-sdav basis Lakchcad:. HiEh Low Flax quotes Clase Mav 1079 1081 1OT4 Jly 999 m 993 Oct — — 950 Nov - -KaMüeed Vaocauver 936 Jan — 751 Mar 734 720 734 Jun 714 700 714 Sep — Rapeseed Thunder Bay 693 May 702 «87 Î02 Jly 68S 667 £85 Oct ■ _ . — B38 Nov Rye May — — tíl7 403 3*5^4 385 >.<1 JIv 387 m 372 Nov - — 362 Hog prices EDMONTON (CP) - Average prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board with Tuesday average in brackets: Edmonton: 47.55 (48.611. Red Deer: 47.50 ( 4S.55I. Calgary: 47.S l48.73(. Lethbridge: Nil (48.111. Lloydminster: Nil (47.20). Fort Macleod; Nil (47.601. Grande Prairie; Nil (nili. Fairview; Nil I nil). Total hogs sold to 11 a.m. 224. total sold Tuesday, 1,317, average 48.S2. Sows average 34.50. Baaf futuras WINNIPEG ICP) - Live Beef futures close Tuesday. Jan —51.B0B; Mar —55.00A; May— 56.40; Jly - 54.00N. Monday*s volume: No contracts. Imperial Oil ‘ i to while Uofasco fell to (274. and Consolidated Bathurst ‘ i to f26. _ Among speculative issues. Silver Stack Mines rose lO'i cents to 47 cents on a volume of 62,000 shares. VANCOUVER (CP) - Prices were 1«) in moderate trading at the close Tuesday on the Vancouver Stook Exchange! Volume was 2,346,353 shares. In the industrials. Speculators Fund, was down .05 at 11.20 on ll.SOO shares. Mercuria was at .38 on 19,000 shares. Block Bros, was at (3.60 on 7.40Û shares. Captain International was at .67 on 5.400 shares. Bank ot Montreal realty warrants were at t2.75 and Cornât Was up .05 at »4.45. In the mines. Copper Giant was up .01 a t .26 on a volume of 305,100 shares. Northair was down .02 al tl.86 on IM.-200 shares. Granite Mountain was up ,07 at .28 on 134,481 shares. Nonhair warrants were down .06 at .82 on a volume ol Brown Overton was up .01 at .13 and Cutlass was down .07 al .98. In the oils. Seneca Developments was up .15 at *1.25 on 44.400 shares. August Petroleum was down one cent at .70 on 18.400 shares. Galveston rose .09 at 71.46 on 12,000 shares. Alaska Kcnai was up .05 al $1.35 on 9.504 shares. Princess Ventures was down .01 = ; at ,22‘i and Vargas rose .01 at .15. NEW YORK (AP) - The stock market, trying to pull itself out of recent trading doldrums, added to gains today despite an absence of news. The noon Dow Jones average of 30 industrials was ahead 7.23 at S5Ï.63, On the New York Stock Exchange, where trading was slow, advances led declines seven to four. The NYSE broadbased index was up .44 at 50.87. The NYSE.opened 15 minutes late because of a temporary mix-up in the computer room at the exchange's biggest member, Merrill Lynch, Pierce, Fenner and Smith. Giant Yellowknife Mines, down at .120, led trading on the American exchange. followed by Day Mines, unchanged at ïl2v:i. and Houston Oil and Slinerals, up 2^:j to Ml. Recrion Corp., which said its tender offer was oversubscribed, dropped 2‘.ii to t2Hi. On the NYSE, Occidental Petroleum led trading, up IVi to$12T%, The company said it has discovered a less expensive way to extract oil from shale. Winnebago, active Tuesday, picked up another ^ to Î6Vj. Other gainers on Ihe NYSE included Questor. ahead l¥i lo SlOiU; Ford, up I Mi to (43",<1 ; Sperry Rand, ahead lii to ^0: ar.d Du Pont which advanced 2Vi to î1B4î'4. Two Oils made good gains. Exxon ahead 2Vi to $89% and Standard uf Indiana, up 3>.ii to *98. Amntig Canadians on the New York exchai^e. Dome Mines lost 5% 10Î178 and Massey-Ferguson 'A to Î17, Alcan advanced % to $37%. Canadian Pacific to (IffVli. and International Nickel to $36V». Genstar was unchanged at (17, Hudson Bav at $25^4, and McIntyre at JSStj- ‘ On the American exchange, Brascan gained ‘A to Î16‘.*, while Scurry Rainbow lost ‘/j to $22 and Canadian Mar-cnni was unchanged at (3^/4. CHICAGO lAp) — The strong demand for commodity futures tapered off Tuesday on major United States exchanges and prices generally trended lower. Profit-taking was a rnajor factor In most sales although some selling appeared to have been linked lo concern about petroleum shortages and weakness of the British pound. World sugar futures again pushed to limits for one session, the ihird day in succession, but silver, copper, cocoa, wool and coffee futures were sharply lower. On the Chicago Mercantile Exchange, pork bellies chalked up impressive gams. Live cattle and hogs were mixed. Board of trade commodities were generally weak. Soybeans and wheat closed sharply lower, while corn and oats were mixed. Soybean meal and oil also were lower. Higlier cash prices figured in buying of pork-tielly futures along with a lack of hedging pressure. Live callle and hog futures reacted to marketings, the wealher and some -second thoughts about an anticipated United Stales callle-on-feed report. Grain elose: Wheat; Mar 5.80; May 5.57: Jul 5 04; Sep 5.00: Dee 5.05. Com: Mar 2.87: Mav 2.91; Jul 2.93: Sep 2 87; Dec 2.70'i: Mar 2.73. Oals: Mar l.sS^i; Mav 1.58‘i; Jul 1.55“<; Sep 1.56>i. Livestock Calgary CALGARY. (CPl — Receipts to 11 a.m. Wednesday from ihe Calgary public stockyartis totalled about 1.200 head, mostly slaughter steers and heifers. Slaughter steers met a good demand al prices tl higher. Heifers sold a full 11 higher as did cows. Bulls sold steady. Steers Al and 2 53.50 to 54.70, A3 52 to 53-25, A4 48 lo 51. Heifers Al and 2 45.75 lo 17.20, A3 43.50 to 45 50. A4 40 to 42. CoWS D1 and 2 34.50 to 36. D3 32 lo 34, D4 27 tO 31.75, Good bulls 43 to 45.50. Replacement cattle were practically all short-keep steers weighing S50 pounds and up selling steady. There were no stock calves on offer. Good feeder steers more than 850 pounds 49 to 54.50. Hogs fob Calgary to 11 a.m. sold sharply lower al an average base price of (47.55. Tabar On offer last week were 909 head of livestock consisting of 704 cattle and 205 hogs. Trade was very active on all classes with butcher heifers showing improved demands. Cows steady. Feeder steers gained *2-13. Feeder heifers up H. All classes of calves sold strong. A] and A2 butcher steers. 51-51.60. A! and A2 butcher heifers, 45.9046.10. D1 and D2 cows, 34-35: D4 cows. 3032. Bologna hulls. 40-43.20. Good Yearling feeder steers under 800 lbs..'55-iO. Good yearling feeder heifers, 43-45. Feeder cows, 30-34; good steer calves. 250-400 lbs., 5M2.50: 400400 ibs.. 36-€2.75; fair to medium steer calves, all weights, 52-57; slock cows and heifers. $340-(385; good heifer calves. 250-400 lbs., 48-52; 400-500 lbs., 48-51.50: fair lo medium. 42-28. Weaner hogs. 17-22: light weaners. 10-lti: market hogs, dressed weight. 49.30: feeders utider 100 lbs.. 25-40: over 100 lbs.. 35-55. Dollar valu« MONtliEAL iCP) - U.S. dollar in terms of Canadian funds al nootl Wednesday was up 1-25 at (0.99 13-50. Pound sterling was down 1 13-100 a! *2.15 24-25. In New York, the Canadian dollar was down 1-25 al Sl.OO 37-50. Pound sterling was down 1 23-100 at (2.17 57100. Registered Retirement Savings Plan ‘B’ Now at HiGH iNTEREST 9y«%+ TAX SAVINGS No Administration Charges PLAN "A” SELF ADMINISTERED ~ NOMINAL FEES fWf FARMERS & MERCHANTS TRUST 308 7th SI. S., Lethbridge Phone 328-5548 JVew York (Supplied by Richardson S«c«rities of Canada) WoolWOrlF)    li.75 W«StingnouS« EI«C.    24.1 U.S. Steel    <0.37Vj Gen, T«l, Elec.    25,37’-4 TORONTO AVERAGES 20 Industrials 20#,7i up ,'83 20 Golds 526.47 down 8.03 10 Base Metals 101.16 up .44 15 Western Oils 261.55 up 2.23 Volume 1.600,000    ' NEW YORK AVERAGES 20 induatnals SS3.09 up 6.69 10 Rslls 192,39 up 1,23 IS Utililies 92.53 up .12 65 StocKs 272,M op 1,76 VcHum« 9.000,000 ISSUE OF $550,000,000 NON-CALLABLE GOVERNMENT OF CANADA BONDS DATED FEBRUARY 1, 1974 Bank of Canada is authorized by the Minister of Finanre to receive subscriptions for a loan, to be issued for cash as follows: —2 year 10 month 7% bonds due December 1, 1976 Issue price: 100.00% yielding 7.00% to maturity Interest payable June 1 and December 1 Four months" interest payable June 1, 1974 Denominations: $1,000, $5,000, $25,000, $100,000 and $1,000,000 and "6 year 10 month 7i% bonds due December 1,1980 Issue price: 100.50% yielding about 7.40% for 6 years 10 months Exchangeable    , at the option of the holder into an equal par value of 7 year 8% bonds to be dated December 1, 1980 and due December 1, 1987 yielding about 7.63% for the foil 13 year 10 month period commencing February 1, 1974 Interest payable June I and December 1 Four months’ interest payable June 1, 1974 »Denominations: $1,000, $5,000, $25,000, $100,000 and Si.000.000, Bank of Canada has agreed to acquire a minimum of $400 million of the new bonds, open as to maturity. Proceeds of the offering will be used to redeem $200 million of Government of Canada 5i% bonds maturing February 1, 1974 and will be applied to advances to the Canadian National Railway Company in connection with the retirement of $200 million of the Company’s bonds maturing February 1, 1974, The remaining proceeds will be used for general purposes of the Government of Canada. The new 7% bonds due December 1, 1976 are an addition to $125 million of 7% bonds due December 1, 1976 and dated December 1, 1973. The new 7i% bonds due December 1, 1980 are an addition to $475 million of 7i% bonds due December 1, 1980 and dated December 1, 3973, The new 7% bonds due December 1, 1976 and the new 7i% bonds due December 1, 1980 will be dated February 1, 1974 and will bear interest from that date. Principal and interest are payable in lawful money of Canada. Principal is payable at any Agency of Bank of Canada. Interest is payable at any branch in Canada of any chartered bank without charge. Definitive bonds will be available on February 1, 1974 and thereafter in two forms: bearer form with coupons attached and fully registered form with interest payable by cheque. Bonds of both forms will be in the same denominations and fully interchangeable as to denomination and/or form' without charge (subject to Government transfer requirements where applicable). To enable the Government oi Canada to establish six montiis in advance the amount to be redeemed for cash on December 1, 1980 and thus plan any required refonding, the option permitting holders to exchan(>e their 6 year 10 month 7i% bonds due December 1, 1980 into an equal par value of 7 year 8% bonds due December 1, 1987 may be cxercised only during the six month period commencing; December I, 1979 and ending May 31, 1980. The new bonds are authorized pursuant to an Act of the Parliament of Canada and both principal and interest are a charge on the Consolidated Revenue Fund of Canada, Applications for the new bonds may be made, subject to allotment, through any investment dealer eligible to act a$ a primary distributor or through any bank in Canada. Finance Finances JAl j’\Kv.Ki-Ar:-, ;