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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 22, 1975, Lethbridge, Alberta 28 THE LETHBRIDGE HERALD Wednesday, January 22, 1975 TSE trading light Stock prices trend lower TORONTO (CP) After rising sharply. Tuesday, the Toronto stock market slipped back again Wednesday in light mid-morning trading. The industrial index, wide- ly-based indicator of market trend, fell 0.14 to 169.13, golds 1.28 to 352.69 and western oils 0.61 to 136.55. Base metals were up 0.01 to 61.13. Volume by 11 a.m. was Trading resumed in the shares of MLW-Worthington Ltd. A private firm which con- trols Bombardier Ltd. plans to offer a share for all MLW shares. MLW-Worthington was up 4'A Cominco was down to Walker-Goodermah A Vi to Dome Petroleum to Southam A was up to and Grain to Chemalloy lost 7 cents to Bankeno 5 cents to Cons Faraday 4 cents to and Con- iagas 4 cents to Camflo rose Vs to and Westfield 4 cents to Chieftain was off to Pan Ocean to and United Canso 'A to Numac Herald- Business' Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited 000 down from at the same time Tuesday. conbridge Nickel M to Market trends MONTREAL (CP) Prices were Prices were down in light tradi mixed in light trading on the Montrea Tuesday. Closing volume was Stock Exchange Wednesday. stares. Volume at a.m. was 164.600 in the industrials, Venture was up shares compared with at the at .34; Cadil Fair unchanged at same time Tuesday. Kaiser Warrantsup. iOatJS.lO; lona Utilities rose 0.81 to 130.00, papers up at .15; Canadian Javelin unchang 0.35 to 100.78 and the composite.0.09 to at International Centura u 169.70 while banks lell 0.22 to 226.51 changed at .08. and industrials 0.08 to 172.26. Canadian Salt Ltd. Tell 1 to Alcan In the mines, Dalton up .02VI; 'A to I19K and Pacific Petroleums Anglo-Bomarc unchanged to SIS while MLW Worthington rose 51.20; Barrier Keef up .11 at J1.9 6'A to SJOVi and Seagrams Co. to Lone Creek down .02 at .08; Col 3325J, down .07 at Qrandora unchang Among speculative issues, West at .48. ljuebec Mines rose one cent to 46 cents ,n opmenis after trading 10.500 shares. 03 a, 93. Bison unchang VANCOUVER ,CP, Prices were A unchanged was shares, In the industrials, Block Brothers Closing volume for the curb was unchanged at In the mines, change was shares. Most act Thor Explorations was up .10 at of the curbs was Granger, down .06 In the oils. Western Warner was un- .34; Cadet Resources was up .08 at changed at .13. Consolidated Monarch down .02'A Vo ume on the curb exchange was .32; Petro West up .07 at .35; Jun shares. Decade was up .01 at Resources down .01 at .22; Mark .37. down .03 at Chicago markets CHICAGO (AP) Soybean futures. Grain quotations Wednesday: which had declined around SI a bushel Wheat: Mar 3.93'A; May 3.90; in the last six sessions, made an abrupt S.SOVz; Sep 3.88; Dec 3.98. Corn: M turnaround and advanced 24 cents a 3.1214; May 3.15; Jul 3.16; Sep 2. bushelonUreBoaniotTradeTuesday. Dec Z.T6; Mar Oats-. M The demand for futures was almost May 1.51V4; Jul 1.48'A; S as strong in other pits. Soybean oil ad- 1.41W; Dec 1.47. vanced the limit of 100 points, or 1 cent a pound, while soybean meal rose 57 a ton. Wheat futures gained Is1! cents, corn just short of a limit and oats wMlf WMtolWB nearly 5 cents MONTREAL (CP) Wednesda Soybeans had had a limit decline of mid_d forej excnange ra Ued b lte Bank of Monlrea rules radmg limits were expanded to doUar L0100 30 cents. The 30 cent gain was posted b on the opening in soybeans with a Denmark kroner Igo5 unit of 100 points in oil and 10 cents in 23M corn. Wheat later gained 16 cents, soy- r.._.nv bean meal and oats around 514 cents, all just short of their limits. The demand had no been un- expected. Traders had thought the s la Olg5 market oversold. There was a fresh kroner 25m demand for U.S. commodities n and (ranc _4000 Europe and export inspections showed some improvement. United Kingdom pound 2.3700 Gold futures maintained a small TJ s s R ruble 1 1545 gain for a time after the opening, then Qaolatlons ln canadian tlmds. fell back under profit-taking and closed S3 lower. At the close of trade, soybeans were El 1714 to 24 cents a bushel higher Jan. picKea up 10 ana loiai r> i WESTERN OILS Pac Pete 15.00 4. Pete to AND MINES Pi-Ben Olllield 2.75 Alton Mines 3.00 Royal Trus, 23.oo Albany Oil .27 4.60 A la East Gas 4.90 Teledyne 4.40 Alminex 5.12VS Grp Asamera 8.00 Tilmao 375 ng NEW YORK Stocks settled WeBttlele 1 Mln 1.09 05 lower in very quiet trading Wednesday 1% Yukon in an atmosphere of cautious waiting oda Southern 2.05 PIPELINE STOCKS )3 for signs of the eventual form the cdn Export Gas 2.30 Qas 2; government's economic and energy Cdn Homestead 2.80 Gas 53.50 re strategies will take. Cdn Ind Gas 6.25 Nat Gas 15.00 ed The noon Dow Jones average of 30 Cdn Long Island .20 Gaz Metra n- industrials was down3.60at638.30, and pfsMetroAPId 50.00 losersoutdistancedgainersbyuearlya N Tc Gas 987VS 2-1 margin on the New York Stock Ex- Dynasty 7.00 N f o B" d 1925 "J change. Nulort Resources .07 fr-Cda Pipe 9.75 I The NYSE's composite index lost .18 Giant Mascot .53 Tr-Cda A Pfd 52 50 to 37.53. Gibraltar Mines 4.05 Tr-Cda B Pfd 29.50 C Among Canadian issues on the Tr-Cda Pipe War .74 ed NYSE, Canadian Pacific was down V, 5'S Jrans 19.62VS I to S144 and International Nickel to iS West Trans War 1.85 up S23V4. North Cdn Oil 3.05 CALGABY ed Mclntyre remained unchanged at Numac Oil 11.25 -ii at S40, as did Campbell Red Lake at panCdn Pete 9.25 up Dome Mines rose KIOS44W, Pan Ocean 8.50 %A VAScVER Place Gas 28 MINES Ponder 46 Bathurst Norsemlnes 1.1S ve Winnipeg grain at selbens 8.00 Davenport .62 WINNIPEG (CP) Futures prices Spooner .26 took a turn for the worse in light activi- Total Pete 5.37V4 Mines 1.65 ty through.mid-session Wednesday on Pyramid .05 v the Winnipeg Commodity Exchange. E 330 Silver Standard 1.27 Losses were most severe in oilseeds, Wes( necaita 3 70 Valley Copper 5.25 with several months of flax easing 24 INDUSTRIALS cents a bushel. MISCELLANEOUS Key Industries .06 Tuesday's volume of trade was INDUSTRIALS Wardalr 1.25 000 bushels of feed wheat of Acres Ltd eoo u oats, of barley, of cor- gg 5" ar 0 1200 Plains Pete .08 n. of rye, of flax and groa 340 Stampede Inn Res .63 ul of rapeseed. Canbra Foods 2-50 MUTUAL FUNDS ar Mid-session prices: Cdn Pac A Pfd 25.6214 All Cdn. Compound 4.86 Thunder Bav rapeseed: May five Cdn Pac Inv 13.12'A All Cdn. Dividend 5.19 SSSSSS JUSS-n'SSKFund IS CP gsJffi-ga I'll lower 7.19B; Mar. 9% lower 7.16A, crowsnest Indus 16.75 Eaton Commonwealth 11.24 June seven lower 7.07B; Sept. seven copper 6.37'A Eaton Leverage 2.45 lower 6.87. Trust 4.10 Eatgn Int'l Venture 4.46 Flax: May 24 lower 7.91B; July 24 Genstar 16.37V4 Corp. Investors 4.96 lower 7 76A- Oct five lower 7.80A; Home Oil A 21.3714 Corp Invest Stock Fund 3.70 Feed wheat: May Home on B JJOO" %l unchanged 3.67A; July and Oct. not g 2, 00 Growln 4 76 open. Corn: Mar. unchanged 3.55A; Hud gay A pfd 33 QQ Invest Growth Fund 9.69 May five lower 3.52A; July not open: Hugn c pfd 54.00 Investors Mutual 4.66 Barley: May unchanged 2.89A; July Husky Oil 15.00 Mutual Accumulating 4.86 unchanged 2.81A; Oct. not open. Oats: Husky Oil B Pld 31.12V4 Nat. Resources 3.40 May V, higher 1.93K.A; July and Oct. Husky Oil E War 4.50 N.W. Cdn 4 .21 Inter Pipe War 2.30 Sjowtn 348 July 1% lower 2.6H4B; Ort. one higher ij 13.87 6 62 2-45B. Kaiser Res War 3 15 United Accumulative 3.59 Grain ,uotes Tuesday basis 25.00 Universal .6.70 Lakehead: Flax lg Toronto mines, industrials May 815 810 815 Jly .800 795 800 Oct 785 (Supplied by Richardson Securities of Canada) Nov 785 Kapeseed Thunder Bay MINES Burns 10-00 May 706 700 706 Acme .08 BC Forest 12.87V4 690 Advocate Asb. 1.05 BC Sugar largest propeller Installed on the new ton tanker loannis Coloctronis, the largest propel-er in the world goes to sea at the recent launching of the vessel at Bremen, West aermany. The six-bladed fixed pitch propeller weighs 72 tons and measures 31 feet n diameter. The propeller is the first of ten intended for this class of tanker being onstructed at the Glerman the largest vessels yet built in Europe. department cuts industrial research work By JEFF CARRUTHERS Electronic firms, most of or ones with high defence Herald Ottawa Bureau them small, Canadian-owned interest will be given high-OTTAWA The defence de- companies, now receive about priority for the reduced funds partment is phasing out its 60 percent of the available in 1975-76 and subse-nulti-million dollar Defence in DIR funds. quent years, according to DIR industrial Rsearch (DIR) sup- Normally, each company is program officials, wrt program as part of the required to match the federal Two projects at jovernment's reorientation of contribution to research being DeHavilland, for example, military spending and roles, supported by the DIR will continue to be funded, The DIR budget, J4.5- program. including the development of million this fiscal year, is be- A number of major, the wing-augmentor short ng slashed to J1.65-million aerospace companies, take-off and landing (STOL) during 1975-76. including deHaviUand aircraft. And there is every ex- Aircraft of Canada Ltd. in The U.S. National jectation within government Toronto, Canadair Ltd. of Aeronautics and Space Ad-.hat the program will be Montreal, Orenda Ltd. of ministration (NASA) is also eliminated altogether a year Toronto, and United Aircraft supporting development of the or two later. of Canada Ltd. of Montreal, deHavilland wing augmentor Defence department of- also stand to lose federal technology, which uses jet ficials in charge of the 13- research support as a result of engine exhaust diverted year-old industrial research the cutback in DIR financing, through a modified wing ncentive program predict a The aircraft frame and pro- assembly to increase liftoff number of small, CanadianJ pulsion companies currently thrust during take-offs, owned electronic companies receive about 25 percent of the A substantial number of the which were created and then total DIR funds. smaller projects will also like-nurtured with DIR support A small number of battery ly be retained for DIR support could be hit hard by the plann- companies and mechanical next year, ed cutback in support next fabrication firms receive the Meanwhile, the federalgov-year. remaining DIR support. ernment is already trying to Some of the companies Projects slated to receive locate other sources of funds might disappear altogether. funds over two or three years for projects that will have to be cut-off from DIR support. KST Tuesday.silvermpcnceattoyounce: Rapeseed Vancouver Bethlehem 9.00 Cal Power 23.62V4 Spot 505-506; futures 523.5- Jan 728 716 727 Bovis 1.06 Canbra Foods 2.50 524 Mar 725'A 71214 725% Brunswick 3.75 Can Cellulose 4.85 m :___ Tin-spot futures Jun 714 70314 714 Can. NW Land 2.70 Carling O'Keefe 2.25 Earnings 3.230 Spt 694 W Tung. 2.60 Chemcell 3.70 1 AflrB Ind 5.50 Montreal 1 Nil M. Bel) Tel 45.75 Nova Scotia P I Lethbridge: Nil Brascan A 11 50 Roval 1 Fort Macleod: Nil BCTel 61JW MM 1 Hogs sold to I la.m. 366. Hogs sold 1 1 Tuesday, average 52.02, Sows Nptn Ynrlf t 1 average 30.45. MOrK g (Supplied by of 1 1 Gold futures NEW YORK STOCKS wooiworti, 11.62% 1 Amr T i T 46.6214 Westinghouse Elec 10.87VS 1 wiNNiPpr irpi now tulurn Anaconda 15.87% U.S. Steel 40.87'A 1 IT Beth Steel 27.25 Gen T.I Etec 20.25 f 1 U.S. funds, Winnipeg Commodity EJ- 9 TORONTO AVERAGES c 1 change close Tuesday. Comsat 25 62M 20 IndualrHls 169.62 up .35 c 1 CONTRACTS: Dupont 20 Golds 352.56 down 1.41 1 General Motors 10 MeOls 61.10 down ,OZ s 1 Jly 75 180.60B; Oct 75 1M.70B; Gull 19.50 15 Western Oils 137.11 down .05 1 Jan IN.40B. Int Harvester 20.25 Volume C 1 Mnnttav'4 volume- 4.11 contracts Kenn Copper 36.75 S 1 iMMnirr rtMTOArN- Montgome" Ward 17.00 NEW YORK AVERAGES 1 Tikis JPiii IIHTOH. SO InduMflals 638.29 down a 1 Exxon MJ7V, 20 R.IH 151.79 down .77 C 1 Atlg 75 182.40A; Nov 75 187.00A; Texas Gull 2450 15 Utilities 76 97 down 12 of Grains Group H's the program "a major step graph newspapers, reporting o-ordinating committee and toward coverage based on the on a meeting in London TXies-n official of the Pool and individual farmer's produc- day of the 11 companies with a