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The Lethbridge Herald (Newspaper) - January 25, 1974, Lethbridge, Alberta 1974-TMI UTNMHDOI MtlULO-M Signed and sealed Hon. Alastair Gillespie, Minister of industry trade and commerce, Thursday signed three grants totalling 28.7 million Canadian dollars for Mexico. Gustavo Romero Kolebeck, foreground, of the National Financiera signed for Mexico. In the background is Vincent L Chapin, vice-president of Export Development Corporation. (See story on page CP9 Air Canada increase rates for domestic fares OTTAWA (CP) Air Canada and CP Air announced today new domestic fare increases averaging 10.5 per cent with economy ticket prices rising between and depending on route length. The new fares were filed with the Canadian transport. commission and will take effect Feb. 24, barring intervention by the com- mission. The two airlines blamed ris- ing fuel and other operating costs for the increase, first on domestic routes since March 6, 1971. Further hikes in metals price barred by Nixon WASHINGTON (AP) President Nixon's cost-of- living council decided Thurs- day to bar further price increases of basic copper and aluminum until the middle of March. Council director John Dunlop, announcing the tem- porary freeze, said that the council acted because copper and aluminum companies had been granted price relief in December. In mid-March, Dunlop said, the council will take another look to see whether copper and aluminum companies can raise prices. In December, the council allowed the price per pound of copper to go up to 68 cents and aluminum to 29 cents, even Sell dollars PARIS (Reuter) The Bank of France intervened again Thursday on the foreign exchange market, selling million in United States currency to ensure that the franc did not drop more than five per cent beneath its pre- float level, market sources said. The intervention brought to million the total sold by the bank since the franc was floated Saturday, the sources added. though neither price was fully justified by copper and alumi- num firms, Dunlop said. The previous prices had been 60 cents a pound for copper and 25 cents a pound for aluminum. "We thought that was enough at this Dunlop said of the December increase. The council allowed the higher prices in December to enable domestic prices for the materials to advance closer to world price, thus creating a climate for greater domestic supply, Dunlop said. They said in news releases that the price rise is below the cost rise the airlines have had to face since the last fare in- creases. The airlines said that econ- omy fares for trips of more than 500 miles generally will increase by less than nine per cent. w. Higher percentage increases will apply to flights of less than 500 miles with ac- tual price increases being as much as Rates are based on a standard boarding charge of a ticket plus mileage charges which decrease with distance travelled. Discounts for both short and long-haul travel at off-peak periods will remain at 30 per cent of the normal economy rate. The airlines attempt to en- courage travel within the country and to divert some traffic to off-peak periods through the discount rates, they said. The aim was to balance pas- senger loads, hold down costs and free as many seats as pos- sible for busy periods. Fares for youths, senior citizens, families and groups are being raised. The airlines said these groups now use the discount rates. The senior citizens' discount rate will be reduced to 10 per cent from 20 per cent. Herald Stocks Miscellaneous Vancouver, Calgary, 4 Doherty WESTERN AND Alton Albany Cdn A Alta East BP LINE Brenda Gas ZS Can Gas Cdn Ex Nat Cdn Nat Cdn Ind Gas Cdn Long Metro A and C Cdn and C B Dome Can Fort Can A Giant Can B Gibraltar Can Gt Trans Gt Cdn Oil Lochiel Lytton Noble North Cdn Numac Pancdn Pan PortOSr Ranger Oil Scurry Rain 22.87% Varden Equitorial Res .18 9.35 .14 Total 1 Ulster United 23.50 Copper 9.75 West Decalta Brew Key .16 Acres Ltd Aquitaine BC Sugar A Pfd Block Bros Cdn Pac Inv A Pfd Comm Cap Corp Carling O'Keefe A Pfd Carling O'Keefe B Pfd Crestbrook Ind Crowsnest Ind Falcon Copper F and M Trust Genstar Global Com Unit Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell C Pfd Husky Oil Husky B Pfd Husky D War Husky E War Hys of Canada Inter Prov Pipe Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete Pac West Air Pe-Ben Oilfield Rainier 27.50 14.00 3.75 33.25 2.35 23.37% 28.75 8.00 26.25 11.00 5.00 16.87% 39.00 52.50 48.00 17.37% 45.00 51.00 53.00 21.62% 39.25 6.75 9.50 3.15 7.25 14.00 4.25 25.75 5.50 33.50 8.00 Pete -90 Ponder Explor .68 Stamp Intl Res .78 MUTUAL FUNDS All Cdn Compound 6.58 7.15 All Cdn Dividend 6.95 7.56 All Cdn Ventures 3.47 3.77 Arher Grow F 4.82 5.30 AGF Special 2.54 2.88 Cdn Invest F 4.90 5.37 Collect Mutual 5.09 S.S9 Common Inter 13.26 13.26 Com Leverage 3.16 3.16 Com Venture 5.51 5.51 Corp Investors 6.20 6.81 Corp Invest S F 4.BO 5.27 Dreyfus Fund US 10.61 11.63 Grpd Income 3.04 3.34 Grow Equity 7.28 8.00 Invest Grow F 11.75 12.84 Invest Mutual 5.64 6.17 Mut Accum 5.83 6.41 Mutual Grow F 3.21 3.53 Nat Resources 4.80 5.27 NW Cdn 5.11 5.62 NW Growth 4.42 4.86 Prin Growth 4.34 4.77 Prov Mutual 7.30 7.98 Royfund 6.71 6.99 Templeton Grow 7.27 7.97 United Accum 4.56 5.01 Univer Savings 7.89 8.69 Vanguard 5.89 TSE industrial index up in active trading Toronto mines, industrials (Supplied by Richardson Securities of Canada) Action to avert shortage of fertilizer requested MONTREAL (CP) The director of research for the Union of Agricultural producers said Thursday im- mediate action is necessary to avert a shortage of fertilizer. Francois Dagenais was reacting to statements by federal agriculture minister Eugene Whelan that any shor- tage would be limited to railway cars used to transport fertilizer. Mr. Dagenais said both rail- way cars and raw materials Registered Retirement Savings Plan 'B' Now at HIGH INTEREST 9vw i. TAX SAVINGS Ni Ctartts PLAN "A" 8IUF ADMINISTERED NOMINAL FEES FARMERS I MERCHANTS TTOS1 909 Till LeNiMdge Phorw 328-5548 used in manufacturing fer- tilizer would be in short supp- ly because the United States, which usually exports materials to Canada, now is importing them in greater amounts than ever before. Mr. Dagenais said Ontario faces a shortage of super- phosphates and fertilizer con- taining potassium sulphates used in growing tobacco and potatoes. Mr. Whelan has said Cana- dian farmers will use between 11 and 13 per cent more chem- ical fertilizer in 1974 than last year. Reduces rate NEW YORK (AP) First National City Bank of New York, second-biggest com- mercial bank in the United States, said Friday it will lower its prime lending rate to per cent from 9% Monday. Citibank's action follows similar moves by New York's Morgan Guaranty Trust, fifth- largest in the country, and two smaller banks earlier in the week. The prime rate is the min- imum lending fee banks charge their biggest and best corporate customers. If is sef independently of rates on loans to smaller businesses and consumers. Forest Advocate Asb. Sugar A Bow Valley Ind Ind O'Keefe Cellulose Can. NW Land Canada Power Coron Credit Gas Pfd Central Industries Marconi Vickers Cons. Coin Craig Bathurst Dickenson Gas Denison Mines Seagrams Dominion Dome Discovery Textile East Stores East Pete Mobile First Maritimes Giant Cdn Oil Sands General Motors Lakes Oil Cda Hudson Bay Hydra Hawker Sid Iron Walker Erie Joliet Quebec Kerr Oil Imasca Key Nickel Pipe Lake Shore Langis Group A IU Intern'l Madsen R.L. Malartic Accept Kaps Martin McNeely Doug A Laurentide Mid A Intern Mogul Nu West Homes New Athona New Calumet 8.87% .21 .35 Mass Ferguson McMillan Bloedell Moore Corp Molsons A B New Pine Cent Placer Corp Pax Co Quebec CDA Radiore Rio Algom Roman 34.00 Simp Sears Steel Canada Sherritt A Steep Sunningdale Oil Tek Corp. Texmont United Canso Western 4.60 .20 23.25 Grp A Trans Mtn Pipe Trans Can Union Carbide Union Gas WH Copper Oil Wright Siscoe Willroy Mlg westeel Yellowknife Zenmac A West Cdn Seed Elec Algoma Steel Atco Ind Imperial Agra Bell Scotia Brascan BC 14.25 17.50 20.25 28.12'A 15.12Vi 8.12W 3.95 5.00 5.50 22.e3.Vi 2.25 10.00 18.12V4 3.70 15.25 17.12V4 15.37V4 33.75 26.25 17.12V4 36.00 21.87V4 9.25 12.50 43.25 28.37V4 7.50 10.87 Vi 49.25 23 62V? 18.00 5.00 50.00 27.50 39.75 28.37V2 37.12V4 11.37V4 8.37V4 1650 17.00 4.60 5.00 9.00 3.65 5.00 11.25 16.25 28.75 49.75 22.75 21.25 7.12'Xj 12.25 9.87V4 14.50 7.75 10.75 29.37% 13.75 49.87V4 14.87VS 14.62% 33.00 16.00 9.75 13.25 7.25 6.25 19.25 19.50 4.00 2.65 27.12% 19.50 35.50 34 37% 34.25 TORONTO (CP) Prices on the Toronto stock market were fractional- ly higher in active mid-morning trading today. The industrial index, considered the main indicator of market trend, was up .25 to 210.W. golds 8.27 to 5W.M. base metals .40 to 103.43 and western oils to Volume by 11 a.m. was 1.43 million shares, up from 1.30 million at the same time Thursday. Advances outnumbered declines 149 to 124 with 217 issues unchanged. Construction and material, paper and forest, real estate and Industrial mining sectors of the market were higher while chemical, pipeline, com- munication and oil refining groups declined. Eddy Match rote 1 to Dome Pete 1 to Dominion Textile to Cadillac Development to and Husky Oil to General Motors fell to Cana- dian Tire A to Budd Automotive to (8, Toronto Star B to and Chrysler H to Camflo Mines was up to Campbell Chibougamau ft to and United Siscoe H to Quebec Sturgeon lost to and Teck Corp. A 25 cents to Ranger Canada increased 2 to and Siebens V, to Skye Resources was down Vt to MONTREAL (CP) Prices were generally lower in light trading on the Montreal Stock Exchange today. Volume at 11' a.m. was shares, compared with at the same time Thursday. Industrials fell .56 to 237.37. the composite .32 to 220.73. utilities .26 to 139.41 and papers .24 to 122 04 while banks rose 1.32 to 262.30. Imperial Oil fell Vt to Rio Algom Mines to Trans-Canada Pipe Lines 'A to "j, and MacMillan Bloedel 'A to while International Nickel rose to Among speculative issues, Gold Hawk Mines remained unchanged at 57 cents on a volume of shares traded. Chicago markets CHICAGO (AP) Demand for commodity futures was strong on major United Exchanges with some advancing to limits. Some also fell to limits at the close. Cotton futures reversed a declining trend and gained the limit of a bale while silver futures were up nearly 17 cents in New York and wool rose 2.5 cents. Coffee, copper, cocoa and orange juice futures also advanced. On the Board of Trade, wheat, corn, oats and soybean meal advanced while soybeans and soy oil were uneven. Cattle futures fell the limit of a hundredweight on the Chicago Mercantile Exchange, while live hogs eased a hundredweight, almost the limit. Pork bellies declined the limit of 150 points and shell eggs fell the limit of 200 points. Demand was strong for the so-called international commodities because London had shown strong openings for gold, silver and other metals. Board of Trade prices appeared to be influenced by concern over lighter wheat stocks, acreage to be devoted to feed grains and imminence of the government's grain stocks report. The trade was anticipating bullish figures and bought wheat, corn and oats. Grain close: Wheat: Mar 5.54; May 5.27; Jul 4 62; Sep 4.58; Sep 4.62. Corn: Mar May Jul Sep Vj; Dec 2.63V., Mar 2.66. v. Mar 1.61; May Jul 1.58; Sep 1.60. VANCOUVER (CP) were up in heavy trading on the Vancouver Slock fcxcnange Tnurtoay. At the close volume was 1M7.647 snares. Cornat Industrie! led industrial iuuei. up .06 at M.JO on a turnover of S.300 Newmark Resources fell 02 to on 4.SOO tharei. Captain International down .05 to .70 as 4 800 shares were traded. Thermoplex was down .05 to M on 3.500 shares. Dunhill Developments rose .OS to and Aden Financing was at .47. In the mines, Northair was up .25 at 40 on a turnover of shares. Green Eagle rote .Ot to .IS as 206.500 shares were traded, Northair warrants rose 25 to on snares. Arcadia rote .02 to .33 on 100.000 shares. Sproat Silver rose to .SK4 and Cutlass was up .24 at Rose Pats led oil stocks, up .04 at .41 on 30.833 shares. Freehold was up 17 at on shares. August Petroleum rose .08 to .85 as 16.500 shares were traded, Vargas was up 01 at 19 as shares changed hands, Seneca Developments fell .10 to and Mountain States was down .08 at .50. NEW YORK (AP) Spot news pushed certain stocks higher today as the rest of the market languished. The Dow Jones average of 30 in- dustrials was down 4.30 to 858.78 at noon. Declines led advances S-to-2 among issues traded on the New York Stock Exchange. The NYSE broadbated index slipped .12 to On the American Stock Exchange, gold stocks advanced with Campbell Chibougamau Mines up to Day Mines up to and Giant Yel- lowknife. plus to Ranger OU of Canada, thought to gain from a new oil find in the North Sea. advanced 3 to The market-value index at noon was off .04 at 86.47. In NYSE trading, American Motors picked up to Colonial Pem gain- ed 3 to after Thursday's unexplain- ed slide. On published reports, Baxter Laboratories lost to while UV Industries gained 3V4 to General Motors, announcing further job cuts due to fuel shortages, lost V, to Du Pont, which said it was phasing out dynamite production for a safer ex- plosive, skidded 4V< to General Electric lost 1'A to Among Canadians on the NYSE, Dome Mines lost 1 to Mclntyre to International Nickel to J37H. and Canadian Pacific Hudson Bay picked up V4 to On the Amex, Brascan gained 'A to Scurry Rainbow V4 to and Neonex U to Canadian Marconi was unchanged at New York (Supplied by Richardson Securitiei of Canada) Amr. TST 'Anaconda Beth. Steel Chrysler Comsat Dupont General Motors Gulf Int. Harvester Kenn. Copper Montgomery Ward Sears Exxon Texas Gulf Texas Co. Wix Corporation 50 75 Woolworth 26'oo Westinghouse Eiec. US Steel 1750 Gen- Tel- 33'00 TORONTO AVERAGES 157 50 20 industrials 210.77 up .43 SO My, 20 Golds 560 71 up 8 60 2267V, 10 Base Metals 103.85 up .82 26.00 15 Western Oils 267.26 up 1.46 39 Volume 22 25 NEW YORK AVERAGES 8850 20 industrials 861.31 down 1.77 86'SO 20 Rails 18871 down 1.00 3275 15 Utilities 93.33 down .06 28 62V, Stocks 273.46 down 73 14 Volume 40.12V, 25 75 Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Friday from the Calgary public stockyards totalled about head, mostly cows and replacements. Trade was slow. There were insufficient slaughter steers or heifers on offer to establish a market. Cows sold SO cents to lower with thin shelly kinds selling down to 20 or on a subject to kill basis. A few bulls sold steady. Cows Dl and 2 30 to 32, D3 28 to 29.50, D4 24 to 27.50. Replacement cattle were mostly yearling steers in the 600 to 750 pound weight range and heifers weighing 550 to 600 pounds. Prices were generally steady at the weeks lower level. Stock calves were mainly in the 400 pound and up weight range. Prices were in line with mid-week sales at about or more lower than last Friday's sales. Black calves sold under pressure at discounts of to Good feeder steers more than 750 pounds 45 to 51, 600 to 700 pounds 45 to 53 Good feeder heifers more than 600 pounds 35 to 41. Good stock and feeder cows 28 to 35. Good stock steer calves more than 400 pounds 45 to 53. Good stock heifer calves more than 400 pounds 38 to 44. No hogs were sold to 11 am Winnipeg grain WINNIPEG (CP) Grain quotes Thursday basis Lakehead: High Low Close flax May 1242 1186% 1196% Jly 1150 IKBtt Oct 1094 1042 1045 Nov Rapeseed Vancouver Jan 811 80S 805 Mar 778% 767 767 Jun 711 705 705 Sep _ _ 685 Rapeseed Thunder Bay Rapeseed Thunder Bay: May 20 lower 6.73A; July 11 lower 6.73A; Oct. and Nov. not open. Rye: May 14% higher 3.55WB; July 14V4 higher Oct. not open May Jly Oct Nov Rye May Jly Nov 705 347V. 332 683 334 319 684 650 638 341 323% 325 Hog prices EDMONTON (CP) Average prices to 11 a.m. Friday provided by the Alberta Hog Producers Marketing Board with Thursday average in brackets: Edmonton: 48.05 Calgary: 48.20 (47.88) Red Deer: 48.10 (47.55) Lethbridge: Nil (47.39) Lloydminster: Nil (4735) Fort Macleod: Nil (48 10) Total hogs sold to 11 a.m. 280, total sold Thursday, average 47.68. Price of sows 34 55 Currencies MONTREAL (CP) Friday's mid day foreign exchange nominal selling rates supplied by the Bank of Montreal: Australia dollar 1.485 Bermuda dollar 1.02 China renminbi .4925 Denmark kroner .1550 France franc financial 1920 Germany mark .3560 Italy lira commercial 001525 Japan-yen .003360 Mexico peso 0805 Spain peseta .0169 Switzerland franc 3000 United States dollar .9945 United Kingdom pound 2.2090 U S.S R. ruble 1.3395 Quotations in Canadian funds. Gold futures WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg Commodity Exchange close Thursday. Jan 74 136.70B; Apr 140.75B; July 74 146.00B; Oct 74 151.60B; Jan 75 158 COB Dollar MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was down 9-50 at 9-10. Pound sterling was up 9-50 at 7-100. In New York, the Canadian dollar was up 19-100 at 11-100. Pound sterling was up 1-5 at Dividends Dividends are quarterly unless otherwise noted. Bell Canada, pfd 56 cents, March 15, record Feb. 15. Caaada Cement Lafarge Ltd., 15 cents, increase of 2.5 cents, Feb. 28, record Feb. 1; 6% per cent pfd., 32% cents, March 20, record Feb. 18. Eaton Corp., 45 cents, U.S. funds, Feb. 25, record Feb. 6. Hamilton Trait and Savings Corp., .11 cents, March 15, record Feb. 15; 7 per cent pfd., Series A, 17% cents, April 1, record March 15. Peerless Rug Ltd., four cents. Feb. 28, record Feb. 8. Normick .Perron .Inc., .five cents, Feb 28, record Feb. 14. Standard Brands Inc.. 45% cents, U.S. funds, March 15, record Feb. 15. Sterling Trust Corp.. 10 cents, April 1, record March 21. WINNIPEG (CP) Rye continued strong at mid-session today on the Win- nipeg Commodity Exchange, with moderate activity in general. Rye was as much as 14% cents a bushel higher, reversing a recent sign of weakness. Rapeseed prices were generally down the 20-cent-a-bushel trading limit, with little commercial interest being shown. Flax prices ranged between 15 cents lower to 7% cents higher. There was little trading, as exporters appeared to be only modest buyers. Thursday's volume of trade was 000 bushels of flax, of rapeseed. of rye and no oats or barley. MID-SESSION PRICES. Flax: May 4 lower 11.92A; July 7% higher 1110A: Oct 15 lower 10.30B; Nov. not open. Rapeseed Vancouver: Jan. 20 lower 7.85A; March 20 lower 7.47A; June 20 lower 6.85A; Sept 20 lower 6 65A Qold prices LONDON (AP) Closing gold prices in U.S. dollars an ounce: London 140.90 Paris 142.12 London 141.50 Paris 142.12 Hong Kong Closed Beirut 4.412 a kilo futures WINNIPEG (CP) Live beef futures close Thursday Mar 53.20A; May 55.20A; Jly 54.15A. "LOANS S2S.OOO.OO and over Real Fast on any type of property fast courteous service no red tape Don't disturb your low interest first mortgage. FnhrrW Hand CwpmttM M.. Kan 262-6465. Mtanf. BossofMSE Piorre Brunei, above, was recently elected the new chairman of the board of governors of the Montreal Stock Ex- change. The exchange is one of Canada's largest. OUTSTANDING BUSINESS OPPORTUNITY For Dealer Rapid expansion of a new market provides an out- standing opportunity to cash in on a growing business in an exciting and highly profitable industry. International company now manufacturing and successfully marketing proven anti-shoplifting devices for lease to an unlimited and waiting market. Negoti- ations with national chain stores make it imperative we appoint a dealer for Lethbridge and Southern Alberta immediately. Parent company will supply all basic electronic com- ponents of multi-purpose crime prevention systems at no cost to dealer as well as providing the financing and training necessary. Appointee requirements include a secured investment, the ability to start immediately on a full time basis, and a management back- ground. Write for confidential information, giving full name, address, business and home phone. Mr. 1. A. Pfekell 794 Powell StfWt Vancouver, B.C. 2S3-4101 ;