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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 23, 1975, Lethbridge, Alberta Thuridiy, Jinuary 23, 1975 THE LETHBRIOGE HERALD 19 Business Active mid-morning trade Market advance strong Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN AND Oilfield Afton Albany Alta East Grp Ashland BP A Brenda Cda Cdn Ex Gas Trk Cdn Gas Trk Cdn Ind Gas Nat Cdn Long Cdn Metro A Gfiieftan Nat Dome C C Gas B Nufort Giant A Gibraltar B Pipe Gt Cdn Oil Lochiel Trans Lytton North Cdn Numac Oil Pancdn Continental Pan Place Ranger Scurry Total Ulster United West Pete West Copper Acres BC Sugar C Int'l Block Canbra Cdn. Cdn Pac Inv A Cdn. Cdn Pacific Cdn. Carling O'Keefe A Growth Carling O'Keefe B Comm Cap Invest Crestbrook Crowsnest Falcon Int'l F M Invest Stock Home Oi! Fund Home Oil In Hud Bay Hud Bay Growth Hud Bay Oil A Hugh Russell C Husky Husky Oil B Husky Oil E Inlerprov Pipe Interprov Kaiser Kaiser Res Loblaw Co C TORONTO (CP) The To- ronto stock market continued its strong advance in active mid-morning trading Thur- sday. After gaining the two pre- vious days, the industrial index added 1.55 to 172.62. An opening rally on the New York market influenced the trend. Western oils rose 4.66 to Golds fell .21 to 352.44 and base metals .11 to 61.44. Imperial Oil A rose 1 to Westcoast Transmission 1 to Pacific Pete Versatile Manufacturing A to and Bow Valley to Market trends MolsonBfellVitoJHWand Northern Electric Vi to Demson Mines gained to Roman Vt to and Sherritt M> to Pamour lost V4 to and Orchan Mines 15 cents to Ranger Canada was up to Peyto 40 cents to and Numac% to Winnipeg grain WINNIPEG (CP) Futures prices rebounded from a weak start, showing good mid-session gains in all but a few oilseed months Thursday on the Win- riipeg Commodity Exchange. Vancouver rapeseed and rye led the gains, while flax was mixed with a 36- cent-a-bushel spread. Wednesday's volume of trade was bushels of feed wheat, of oats, of barley. of Livestock Calgary Toronto mines, industrials (Supplied by Richardson Securities of Canada) CALGARY (CP) Receipts to 11 a.m. Thursday from the Calgary public stockyards totalled about head on a normal run of slaughter steers, heifers, and cows. Trade was moderately active for local buyers. Slaughter steers were steady in all classes. Slaughter heifers met a good demand with prices higher. Cows traded steady with Wednesday's close with too few bulls oh offer to establish a market. Steers Al, 2 40.50 to 41.50, AS 38.50 to 40.50, A4 36.50 to 38.50. Heifers Al, 2 35.50 to 37.50, A3 34 to 35.50, A4 32 to 34. Cows 111, 2 17 to 19, D3 13.50 to 17, D4 12.50 to 15.50. Feeder cattle and stock calves receipts were normal for the timeiof year. There was a moderate to good demand on feeder steers 575 to 750 pounds and 750 pounds and over. Good feeder steers over 750 pounds to 39.75. Under 750 pounds 34 to 37.50. Steers over 750 pounds 24 to 35. Common to medium feeders under 750 pounds 22 to 34. No hogs sold. Hog prices EDMONTON (CP) Prices to II a.m. Thursday provided by the Alberta Hog Producers Marketing Board. Wednesday's prices in brackets. Edmonton: 52.15 Calgary: Nil Lethbridge: Nil .Fort Macleod: Nil Hogs sold to 11 a.m. 329. Hogs sold MINES 10.00 BC Forest average at.ii. sows average 31.55. Advocate Sugar Valley Ind Bralorne 10.6214 CAE Ind Power Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. 3.80 3.10 2.50 3.50 .92 Foods 2.40 Can Cellulose 4.85 Carling O'Keefe 2.21 Chemcell. 3.90 Coron Credit 1.55 OWN Gas Pfd 8.00 Cdn Ind OF CANADA BONDS Oct. 99.30 99.40 8% Jul. 105.00 4VW4 Sept 83.75 84.00 Sept 74.00 75.00 3% Sept 15 P 37.00 39.00 Marconi Apr 99.90 99.93 Cons. Vickers Jul 96.25 97.25 Coin S PROVINCIAL Dickenson Bathurst BONDS: Denison Gas '90 85.50 86.50 D'Eldona Dome' Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First 43.00 2.03 3.20 1.57 28.25 .12 Seagrams Dom Bridge 21.25 Domtar 18.6214 Dom Textile 7.00 Dom Stores 16.8714 Dome Pete 23.75 Dofasco 24.00 Glen Mobile 7% '88 97.00 98.00 Ont H 9% '94 97.50 98.50 NS 6'A% '92 75.00 76.00 Alta '90 98.00 99.00 Man H 8% '91 86.00 87.00 Sask '90 95.00 96.00 Nfld 9VS% '90 94.50 95.25 Giant Cdn Oil Motors Gas 9V.% '90 90.00 Hollinger A Hudson Bay Lakes Paper 15.75 Ouif on 9V.% '91 92.00 BC For '92 92.00 Hydra Tel '90 89.00 Iron Sid Tel 79 99.50 Walker A Tel '93 93.75 Joliel Quebec Kerr Addlson Key Anacon Labrador Lake Shore Langis Silver Madsen 10.00 .25 26.00 3.25 .10 Erie 24.75 Imperial Oil A 27.00 Imasca A 27.50 Int Nickel 23.75 Int Pipe 13.87V4 Inv Grp A 7.00 IU Int'l 10 Ltd '89 90.00 CP Sec '90 89.00 CU mil 954% '91 91.00 CWNG '90 99.00 Gull '90 93.00 In Pipe '90 94.00 Malartic Ltd '80 93.00 Martin 9Wb '90 93.00 Nick '90 90.00 Douglas A C Gas 914% '91 93.00 '90 92.00 intern P '90 94.00 NuWest A Tr 814% '93 80.00 New New Calumet Noranda Northgate Norlex Pine Point Placer Dev. Pax Exp. Quebec 29.00 3.00 .16 26.75 14.00 1.00 Ferg 15.8714 McMill Bloed 23.25 Moore Corp 40.25 Molsons A Molsons B 14.00 Nachurs North Cent 10.1214 Peyto TA% '88 92.00 95.00 Alta Gas 714% '90 112.00 117.00 Con Gas 514% '89 69.00 72.00 Scur R '88 71.00 73.00 West C 514% '88 70.00 72.00 West Tr 714% '91 90.00 92.00 IAC 9V4% '94 105.00 109.00 Corp Co Rio Aigom Roman 11. 87 10.1214 Shell CDA Sherritt Steep Rock Sunningdale Tek Corp. A Texmont United Canso Western Mines WH Copper 3.80 2.35 .18 7.00 1.52 Sears Steel Can A 27.1214 Selkirk A 12.3714 Texaco 30.25 Trad Grp A 13.50 Trans Mtn Pipe 10.00 Trans Can Pipe (CP) Thursday's mid-day foreign exchange selling rales supplied by the Bank of Montreal: Bermuda dollar 1.0100 France franc .2320 Germany mark .4250 Wright Hargreaves Willroy Windfall Yellowknife Bear Zenmac 1.40 .12 1.93 Carbide 16.00 Union Gas B.25 Union Oil 8.50 United Siscoe 3.70 Versatile Mlg 7.1254 Westeel yen .003350 Mexico peso .0805 Spain peseta .0185 Switzerland franc .4000 United States dollar .9960 Kingdom pound 2.3900 A ruble 1.3545 Algoma Steel Atco Can Imperial in Canadian funds. Agra Bell Scotia Brascan A BC 87 Vi 28.00 Tor Dom value (CP) U.S. dollar in terms of Canadian funds at noon (Supplied by Richardson Securities of was up 1-25 at W.99 19-50. Pound sterling was up 13-25 at H- Amr. T 8 New York, the Canadian dollar Anaconda Beth Steel 28.00 Elec 11.25 U.S. Steel 41.00 Gen Tel Elec down 1-25 at SIM 31-50. Pound sterling was up 43-100 at 12.38 3-100. Industrials 173.03 up General Motors Gulf Int. Harvester 20.00 Golds 353.88 up 1.23 10 Baso Metals 81.57 up .02 15 Western Oils 147.74 up prices Kenn Montgomery Ward Sears 53.50 68 YORK AVERAGES 20 Industrials 654.72 up 2.10 20 Rails 152.81 up (CP) Wheat board domestic feed grain prices Texas Illilltios 77.32 up 3 CW Red Spring wheat Texas Stocks 214.33 up No. 1 feed barley 2.86; No. 1 Wix oats 1.91'A. rye, of flax' and of rapeseed. There was no trading in cor- n. Mid-session prices: Thunder Bay rapeseed: May nine lower 6.85B; July, Oct. and Nov. not open. Vancouver rapeseed: Jan. seven higher 7.14A; Mar. 3H higher 7.Q9A; June seven higher 7.01 A; Sept. 13 higher 6.85B. Flax: May 26 higher 8.12; July 24 higher7.94B; Oct. 101ower7.50A; Nov. 10 lower 7.50A. Feed wheat: May three higher 3.65B; July and Oct. not open. Corn: Mar., May and July not open. Barley: May 3ft higher July seven higher 2.85; Oct. not open. Oats: May 2% higher 1.94B; July 3ft higher I.90V4; Oct. not open. Rye: May fl% higher 2.72; July 7% higher 2.66B; Oct. not open. Grain quotes Wednesday basis Lakehead: High Low Close Flax May 815 Jly 772 Oct Nov Rapeseed Thunder May Oct Nov Rapeseed Jan 719 Mar 716 Jun 710 Spt 687 May 270 Jly 264 Oct May 289 Oct May 193'A Jly 188 Oct Corn basis Mar May Feed May 367 Oct Metals LONDON (AP) Closing metals Wednesday bid-ask in pounds sterling a metric ton; silver in pence a troy ounce: 498.5-499; futures 516.5-517 Tin-Spot Mures 225.5-226; futures 213.5- 214 Zinc-Spot 335-337; futures 317-318 167.5-168.5; 3 months 172.3-172.5 Gold futures WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg Commodity Ex- change close Wednesday. 400-ounce contracts: Jan 75 I74.00A; April 75 July 75 180.40A; Oct. 75 I85.60A; Jan 76 189.50. Tuesday's volume: 266 contracts. 100-ounce contracts: Feb 75 174.00; May 75 178.50; AUE 75 183.30A; Nov 75 187.80A; Feb 76 192.20A. Tuesday's volume: 83 contracts. LONDON (AP) Closing gold prices Wednesnday in U.S. dollars an ounce: Frankfurt-175.08 Zurlch-175.75 Hong Kong-171.74 Dividends By THE CANADIAN PRESS Corporation dividends Friday, quarterly unless otherwise noted. Q Broadcasting Ltd., five cents, Feb. record Feb. IS. The Bank of Montreal, 24 cents, March 1, record Jan. 31. The Columbia Gas Syitem Inc., 51.5 cents, U.S. funds, increase of two cents, Feb. 15, record Jan. 27. Grey Goose Corp., 10 cents, semi- annual, increase of three cents, Feb. 28, record Feb. 15. Laidlaw Transportation Ltd., seven cents; pfd. series A, 17.5 cents; pfd. series B, 12.5 cents, payable Feb. 15, record Feb. 1. Royal Trust Co., class A, 22.S cents; class B, 19.13 cenfs, both payable Feb. 10. record Jan. 29. United Corps. Ltd., class A, 38 cents; class B, 16 cents, increase of two cents, plus an extra of eight cents; f ive-per-cent pfd. 1959 series, 38 cents; ttve-per-ccnt pfd. 1963 series. 38 cents, all payable Feb. 14, record Feb. 3. Atlantic Richfield Co., 62.5 cents, U.S. funds, March 17, record Feb. 7. Extendlcare Ltd., four cents, Feb. 15, record Jan. 31. Huron and Erie Mortgage Corp., 30 cents, April 1, record March 7. Magna Intenutioaal Ltd., five cents, March 1, record Feb. 14. Maple Leaf Mllli .Ltd., 50 cents, April 1, record March 14. Bnsiiell Commiilcatloit :iir.e cents, Jan. 31, record Jan. 24. Combiacd Iniiraice Co. ef America, 15 cents, U.S. funds, increase of two cents, Feb. 14, record Jan. 31. Hamilton Trmt aid Savleft .11 cents. March 15, record Feb. 15; seven-pcr-cent pfd. series A, 17.5 cents, April 1, record March IS. Union Oriftle CtMHk Ltd., 21.2S cents, March 1, record Feb. 10. MONTREAL (CP) All sectors were higher in light trading on the Montreal Stock Exchange Thursday. The industrial index rose 2.27 to 176.29, the Composite 2.08 to 173.46, banks 1.75 to 231.16, utilities 1.56 to 132.35 and papers O.W to 100.82. Denison Mines rose to Aquitaine 1 to f 17, Husky Oil to and Algoma Steel to while Northern Electric fell to flStt. Among speculative issues, Con- solidated Luuanna Gold Mines rose 4 cents to cents on a volume of shares traded. VANCOUVER (CP) Prices were up in light trading on the Vancouver Stock Exchange today. Early volume was shares. In the industrials, Newmark was un- changed at on shares. In the mines, Cutlass was up .06 at .32 on 000 shares. In the oils, Rand A was up .01 at .78 on shares. Volume on the curb exchange was shares. Granger was up .01 at .33 on shares. In the mines, Cutlass up .06 at .26; Dalton up a half cent at .29; Thor Ex- ploration down .45 at 12.90; Gee-Dyne down .02 at .14; Cypress up .04 at .62. Skait up .02Vfe at .22Vi. In the oils, Seneca Developments up .03 at .96; Coseca up .15 at 11.95; Payette International unchanged at .12; Plains Petroleum up .02 at .10; Bison Petroleum down .13 at Galveston unchanged at Closing volume on the curb exchange was shares. Most active was Consolidated Monarch, up at .36; Rennix up .05 at .54; Junex Resources down .01 at .21; Acaplomo down .03 at .08; Cadet Resources down .04 at .33. Petro West up .03 at .38. NEW YORK (AP) Hopes for rapid action by Congress on proposed come tax reductions kept the stock market on an upward course Thur- sday. The noon Dow Jones average of 30 industrials was up 2.11 at 654.72. Ad- vancing issues outpaced those declin- ing by about a 2-1 ratio in moderate trading on the New York Stock Ex- change. The NYSE composite common-stock advanced .H to 38.28. AM1C Corp., which skipped its dividend, gave up to in active trading on the Amex. Among Canadian issues on the NYSE, Mclntyre was up to Alcan V4 International Nickel to and Hiram Walker H to Campbell Red Lake was down to and Dome Mines u to Canadian Pacific remained unchanged at Chicago markets CHICAGO (AP) Farm commodity futures fell sharply on the Board of Trade Wednesday, with limit declines recorded in the corn and oats pits. Corn futures fell 10 cents a bushel and oats 6 cents, but losses were greater in soybeans and wheat, where limits are wider. Soybeans, with a 30 cent trading limit, fell 22 cents while wheat lost 16 cents within a 20 cent limit. Soybean meal was down about a ton and soybean oil lost about 75 points, or cent a pound. Gold futures gained about after a very lightly traded session. Liquidation was very active on the opening bell and thereafter, not one pil registered a plus sign. It appeared the trade also was disap- pointed in the way livestock futures were acting and the prices farmer: were obtaining for their livestock at the various yards. At the close, soybeans were down 22 cents a bushel Jan. 5.82, wheat l3Vt to 16 lower March 3.77ft, corn 5ft to 10 lower March 3.02Vi and oats 2 to 6 lower March 1.50ft. Grain quotations Wednesday: Wheat: Mar 3.77ft; May 3.74; July 3.67; Sept 3.73; Dec 3.B3. Corn: Mar 3.02 Vi; May 3.05V4; July Sept 2.90; Dec 2.69ft; Mar 2.73ft. Oats: Mar 1.50ft; May 1.46ft; July Sept 1.39; Dec Goldir, Brawmr Associate Mr. H. G. Oilchriit C. 0. Brawner, President of Golder, Brawner 4 Associates Ltd., Consulting Geotechnical Engineers is pleased to announce the appointment of Mr. H. G. Glichrist, P.Eng. as a Director of the firm. Mr. Glichrist is a graduate of the University of Sask- atchewan and has been with Golder Brawner since 1965. He was appointed an As- sociate In 1970 and Manager of the Calgary office. Mr. Gilchrist has ex- tensive experience associa- ted with geotechnicar en- gineering on projects locally, nationally, and abroad. Golder, Brawner As- sociates provides special- ized consulting engineering services in soil and rock mechanics, foundation en- gineering, pavement design and geotechnlcal engineer- Ing to oil and mining industry. Dairy off icial predicts milk reduction decline MONTREAL (CP) The chairman of the Canadian Dairy Commission forecast Wednesday a reduction in milk production of about 1.5 per cent for the 1975 dairy year. Ellard Powers told the an- nual meeting of the Dairy Farmers of Canada that despite adjustments in federal government support, designed to increase milk production, "difficult production con- ditions, labor problems, a sharp increase in feed grain prices, and the reluctance of many farmers to work the seven-day week required in dairy, will leave us with a small decline." He said that in future months milk sales will have to bear the burden of increased costs of production and con- sumer reaction will reflect milk supplies available for manufacturing. Mr. Powers said "the dairy industry must be concerned Auto sales slump in with the extent to which con- sumers are willing to absorb price increases and retain their purchase levels." He also estimated butter production would fall by about seven per cent to about 230 million pounds, while con- sumption would remain above that figure by about 52 million pounds, with the difference to be made up by imports. CHEESE TO COST MORE Mr. Powers also predicted a cut in dry skim milk powder production by about three per cent, while he expected ched- DETROIT (AP) United States auto makers disclose mid-January sales figures to- day, the first to reflect the in- dustry's new rebate program, and analysts predict they will show a substantial upturn. But no one is predicting the end of the longest auto sales slump since the Second World War. U.S. sales for the Jan. 11-20 period were expected to be no more than cars, com- pared with in the same Syncrude aid from gov't to be period a year ago. Volume then was the slowest for a mid-January in a dozen years due to the energy crisis. Sales for the first 10 days of January this year were the lowest on record for the period, dairy year. He said "it is highly unlikely that there will be any upward trend in skim milk powder prices until the last quarter in "However, in the longer run, the consumption and production of milk would in- dicate a strength in prices in He said new oil rich countries are expected to enter the markets for quan- pact of rebate programs designed to spur sales of new models. In the two weeks since "We must expect a contin- uation of variability, both up OTTAWA (CP) The gov- ernment is considering only a minority investment position in the inflation-threatened Syncrude project to tap the Alberta oil sands, Energy Minister Donald Macdonald told the Commons Wednesday. He also declined to give a commitment that a Commons committee can study any fed- eral participation, which must be decided by a Jan. 31 dead- line, before the government makes up its mind. T.C. Douglas (NDP-Na- naimo Cowichan The the NDP energy critic, had asked whether the only possible government par- ticipation would be enough to ensure a controlling interest. The NDP favors government control of Syncrude. selected models, the other makers and more than a score of automotive supply and related firms have started similar programs. Large and small firms are offering rebates to their employees, banks have offered to cut interest rates on new car loans. Because of the 16-month sales slump, production lines at eight car plants in the U.S. were idle this week and 000 hourly employees of a total auto production work force of were on layoff. sumers world-wide change their purchasing pattern of dairy products as a result of high inflation rates which con- tinue to prevail everywhere." Gold price dips LONDON (AP) The price of gold dropped slightly again today on Europe's major mar- kets. London's five major dealers fixed the price for morning trading at U.S. an ounce, down from Wednesday's close. Jl recessing CX. tjystems 1003 4th Avenue South, Ulhbridge Telephone 329-4426 oOafa processing ijervices Not all R.R.S.E's are alike. Consider the Toronto Dominion Retirement Savings Deposit. The TD RSD is a bank deposit. That's the big differ- ence. Its high-yielding interest rate is adjusted twice yearly to match that of the TD five-year Certificate of Deposit. And you never have to worry about fluctuations in the market value of stocks and bonds as you would with some other R.R.S.P.'s. Finally, there's no interest penalty for deregistering your TD RSD at any time. As with all R.R.S.P.'s, eligible annual contributions are deductible from your current taxable income up to in some cases. So depending on your circumstances, the 1974 income tax you defer can be substantial. The money you put into a TD RSD works hard to earn more money for you. For example, if you start your TD RSD at age 35 and contribute at the beginning of each year, you'll have put in by the time you're 65. Assuming a conservative rate of return over the 30 years of lVi% per annum, compounded semi-annually, your savings will have grown Your TD Manager is the person to ask about a TD Retire- ment Savings Deposit. You'll get all the facts, and you'll be pleased to know that you can start for as little as with contributions of or more whenever you wish. But hurry, March 1st, 1975 is the deadline for the 1974 tax year. ITS TIME IS NOW. TORONTO DOMINION the bank where people make the difference ;