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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 19, 1974, Lethbridge, Alberta 22 THE LETHBRIDUt HERALD Saturday. January 19, 1974 End of Mideast dispute lifts markets from doldrums Tracks are for trains Rapeseed crop By SANDRA INGALSBE Canadian Press Staff W filer Stock markets were lilted out of the doldrums this week on news of an agreement in the Middle East dispute, but the advance was moderated by dis- appointing economic reports late in the week. Markets tended to drill during the lirst three days, strengthened somewhat by buying selected issues whose pi ices had fallen to bargain lev- els recently and by reports of higher tour-quarter earnings of some com- panies. Most major indicators were up sharply Thursday, following an agree- ment by Egypt and Israel to disengage their military forces. Investors generally interpreted the news as a sign that the potentially dangerous situation was cooling off and that the Arab countries will even- tually ease their oil embargo. Most analysts had expected Thur- sday's rally to carry through Friday. but reports by the United States government that economic growth dur- ing the fourth quarter was stagnant and that the rate of inflation increased substantially sent prices sharply luwer. On the New York market, the Dow Jones average of 30 industrials ended the week at 855.47. up 13.99. TORONTO FOLLOWS NY Canadian markets generally follow- ed the pattern at New York, and the Toronto industrial index, considered the main indicator of market trend. was up 2.48 to 210.17. The Montreal market's composite index rose 3.31 to 220.29. Toronto's base metal index rose 1.89 to 100.73 and western oils 11.37 to 288.21. The gold index was again the most volatile, with two daily gains of more than 20 points and one drop of 21 points. The index closed up 36.85 to 542.13, an all-time high. Analysts say dramatic swings in gold share prices in particular and in the market generally can be expected until some of the problems of the energy shortage and the international monetary scene are resolved. They say markets will be sensitive to daily developments with a tendency to take profits quickly on bad news. Moss, Lawson and Co. comments: "Although some market analysts are trying to look through the short-term gloom to values for the long term, the majority of investors are unwilling to commit themselves yet." Trading was active at Toronto this week with 15.6? million shares chang- ing hands, down from 16.56 million last week. Value nf shares traded was million against million. On the Montreal exchange. ti.22 million shares were traded for a value of million, compared with H.ea million and million last week. Do your shore to Mcxscfear. Obey snowmobile regulations. Bonds 8 3 '7 V4% GOVERNMENT OF CANADA BONDS Oct. 97.85 97.95 Jul. 102.25 102.75 Sep 80.00 80.25 Sept 78.00 79.00 Sp15 Perp 38.00 39.00 Apr. 99.50 99.60 Jul. 100.35 100.45 PROV. AND PROVINCIAL GUARANTEED BONDS: Alta '90 102.00 102.50 Ont 7 '88 88.00 89.00 OntHyd 9 '94 103.50 104.50 NB. '90 105.50 106.50 Nfld 8 74 99.25 100.25 N.S. 6Vi% '92 80.50 81.50 due '74 91.00 92.00 Alta '90 102.50 103.50 Man Hyd 8 '91 93.50 94.50 Sask '90 101.75 102.75 Nfld '90 104.00 105.00 ACT 8 '74 99.00 100.00 ManGT 8 74 99.00 100.00 INDUSTRIALS: AGasT '90 100.00 102.50 Alcan 9H% '91 101.00 BC For '92 102.00 104.00 BCTel '90 101.00 103.00 Bell Tel 79 101.00 103.00 Bell Tel 9V.% '93 103.00 105.00 CPLtd '89 99.00 CP Sec '90 100.00 CdnUtil 9V.% '91 103.00 CWNG '90 103.00 Gulf '90 99.00 100.00 InPrPp '90 101.00 103.00 Massey 93A% '80 101.00 103.00 WATKINSON, HANHART DUDA CO. CHARTERED ACCOUNTANTS Wish to Announce a Change in Firm Name to: WATKINSON, HANHART, DUDA DORCHAK CHARTERED ACCOUNTANTS With Offices At: 511-5 Street South, Lethbridge Telephone 328-1741 and Room 204 Boyle Building, Taber Telephone 223-3882 THE STOCKMAN'S MARKET 300 to 500 HOGS SELL Tiies., at 1 p.m. COWS CALVES Market Hogs Shipped Daily I Live Weight and Dreued I Special Rancher Calf Sale Wad., Jan. 23rd 1 p.i TOP QUALITY RANCH CALVES YEARLING FEEDER AND FAT CATTLE and CALVES Thursday -1 p.n., 600-HEAD-600 Stock Cow Sale Fri., Jan. 25th 1 p.m. Including 150 Bred NORTON FARMS LTD. CHAROLAIS SALE FRI., FEB. 22nd at p.m. 100 Purebred and PercenUge Chirolait Built ind WESTERN COWS BRED EXOTIC SALE MON., FEB. 25th 1 p.m. LISTINGS IKViTED PERLICH BROS. AUCTION MARKET LTD. Located in the Hub at Southern Livestock 3 nrilM MMI of LethferMge on Highway 3 MM