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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 31, 1974, Lethbridge, Alberta Higher market prices continue The Herald- U74-THIKTHWUOW HUALO-11 Business million bushels TORONTO (CP) Prices on the Toronto stock market were sharply higher in active midmorning trading today. The industrial index, considered the main indicator of market trend, was up 1.11 to 215.27 and western oils 1.24 to 273.81. Golds fell 8.58 to and base metals .06 to 103.86. Volume by lla.m. was million up slightly from 1.57 million at the same time Wednesday. Advances outnumbered declines 195 to 157 with 176 issues unchanged. Paper and forest, steel, chemical and bank stocks were among sectors of market recording while food processing and industrial mining is- sues were lower. MacMillan Boedel rose 1% to Falconbridge Nickel 1H to Stelco 1% to Dofasco to WO'A and Pacific Pete to Hudson's Bay Oil and Gas fell to Falconbridge Copper was up to and Placer to Dickenson Mines lost Vt to fC% and Camflo to Ranger Canada was down 2% to while Great Plains Development rose 1 to MONTREAL (CP) Prices in all sectors continued to move higher in light trading on the Montreal Stock Ex- change today. Volume' at 11 a.m. was shares, compared with at the same time Wednesday. Paper's rose 3.52 to 131.12. banks 2.57 to 273.58. industrials 1.35 to 242.20, the composite 1.19 to 225.72 and utilities .01 to 141.81.. Pacific Petroleums rose 1 to Dolasco 1 to i. Cominco Great Lakes Paper 'i to and Canadian Imperial Bank of Commerce to Among speculative issues, Massval Mines rose one cent to 18 cents on a volume ol 72.125 shares. VANCOUVER (CP) Prices were up Wednesday in heavy trading on the Vancouver Stock Exchange. Volume at the close was shares. Neonex was the most active industrial issue, trading at on a volume of shares. Jolly Jumper rose .10 to after trading shares. Cornat Industries was up .45 at on a volume of 13.MO shares, Newmark Resources dropped OB to on a volume of 9.600. Block Bros, traded at and Tokar Ltd. traded at Con Standard1 was the leading mine trader, up .02 at .22 on a volume of shares. Geo-Dyne traded at .32 on a volume of Northair was down .25 at on a volume of shares. Highhawk rose .06 to .42 on a volume of shares, Brendon Ltd. rose .07 to .60 -rA Gold River was up .10 at Princess was the most active oil issue, up .02 at .26 on a volume of shares. Alaska Kenai dropped .05 to on a volume of Seneca Developments rose .02 to on a volume of shares, Vargas Warrants traded unchanged at .04 on a volume of was down .02 at .15 and Chapparal was down a cent at .09. NEW YORK (AP) The stock market turned mixed today, retreating from mild early gains. The Dow Jones average of 30 industrials, up over 3 points earlier, was down 2.16 at 860.16 at noon. Advances led declines on the New York Stock Exchange, however, by 7 to 4. Analysts said the market started on a report from Lebanon that the Arab countries were not expected to lift, their oil embargo in next month's meeting. Also, according to brokers. President Nixon's State of the Union message left investors a little lukewarm. On the American Stock Exchange, the noon market-value index was up .12 at 97.62, while the NYSE composite index was unchanged at 51.88. Other prices included American Motors, down to on profit taking; U.S. Steel, which earlier this week reported higher earnings, up to and Dial Financial, whose ac- quisition by Chase Manhattan Bank was nixed by the Federal Reserve, down 7% to Canadian stocks followed a mixed trend. Canadian Pacific was off at Distillers Seagrams up at Dome Mines down 2% at Vi, Mclntyre up ZVi at Inter- national Nickel off at and Massey Ferguson up at Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Thursday from the Calgary public stockyards totalled 900 head, mostly slaughter .steers and cows. Trade was active. Slaughter steer-; sold fully steady to 25 cents higher Heifers were steady, so were cows. Steers. Al. A2: 51-53. A3: 49 50-50.75. A4: 46-49. Heifers. Al. A2: 43.7544.50. Cows, Dl. D2: 31.50-33.30. D3. 30- 24-29. There were insufficient replacement cattle on offer to establish quotations. Hogs f.o.b to 11 a.m ;'48.90. A few lambs were sold Wednesday at 39 futures WINNIPEG (CP) Live beef futures close Wednesday. Mar 54.20N; May 56.00A; Jly 55.20A: Sep 53.95A. Tuesday's volume: No contracts. Gold futures WINNIPEG (CP) Gold futures, U.S. funds. Winnipeg Commodity Exchange close Wednesday. Jan 74 134.50B; Apr 74 137.85B; Jly 74 142.75; Oct. 74 149.40A; Jan 75 155.00A. Tuesday's volume: 225 contracts. Hog prices EDMONTON (CP) Average prices to 11 a m. Thursday provided by the Alberta Hog Producers Marketing Board with Wednesday average in brackets: Edmonton: 49.25 Red Deer: 49.25 Calgary: Lethbridge: Nil Lloydminster: Nil Fort Macleod Nil Grande Prairie: Nil (4840) Total hogs-Sold to" H a.m. .sold Wednesday 6.031. average 49.43. Sows average 35.75. Chicago markets WESTERN 5.75 AND 4.20 Alton 8 00 Albany Cdn Sd Pro 3 25 Mm 1.27 A Pld 59.12% Ashland Yukon 8.50 Alta East LINE STOCKS BP Gas Line A 12.50 Brenda Gas Line Pfd 64.00 Can Nal Ci.is 18.50 Cdn Exp Nat Gas 9.87 Cdn Metro 6.00 Cdn Ind Metro A Pfd 65.00 Cdn Long and C Gas and C Gas B Pfd 23.62 Cdn Gas Trans 10.62% Dome Pipe 34.75 Pipe A Pfd 64.50 Fort Pipe B Pfd 36.50 Giant Pipe War 6.50 Gibraltar Trans 24.00 Trans Wts 4.25 Great Gt Cdn Oil .75 Lochiel Oils .09 Lytton Continental .02 Noble Warner .27 North Cdn Pancdn Explor .36 Pan None 1.41 2.65 .62 Place Varden .42 Res .22 Ranger 9.50 Scurry Mns 4.00 .14 .1 4 Total Standard 2 16 Ulster Copper 10.25 United WC Brew 2.96 West Industries .14 1.60 Acres Ltd Pete .85 Plains Pete .21 BC Sugar A Intl Res .86 Block FUNDS Cdn Pac Inv A Cdn Compound 6.59 7.16 Com Cap Corp Carling O'Keefe A Pfd Carling O'Keefe B 23.62V: Cdn Dividend 6.69 7.57 All Cdn Ventures 3.54 4.85 Amer Grow F 4.82 5.30 Crestbrook For Ind Crowsnest Indus Falconbridge Cop F and M Trust Co Genstar Glob Com Units Home Oil A Home Oil B Hudson Bay Co Hudson Bay Oil Hud Bay Oil A Pfd Hugh Rus C Pfd Husky Oil Husky Oil B Pfd Husky Oil D War Husky Oil E War Hys of Canada Int Pro Pipe War Int Pro Steel Kaiser Resources Loblaw c Pfd Magnasonics Pacific Pete Pac West Airlines Pe-Ben Oilfield Rainier Inc Royal Trust. 26.50 .11.25 5.00 39.00 55.00 50.75 17.00 45.25 50.00 53.50 22.00 39.62% 7.00 9.87Vj 3.20 7.00 15.00 4.80 25.75 5.75 34.00 7.62% 6.25 Special 2.60 Cdn Invest F 4.90 5.37 Collect Mutual 5.14 5.64 Com Inter 13.52 13.52 Com Leverage 3.22 3.22 Com venture 5.60 5.60 .Corp Investors 6.25 6.85 Corp Invest S F 4.93 5.42 Dreyfus Fund US 10.77 11.80 Grt Pacific 4.53 4.95 Grpd Income 3.05 3 36 Grow Equity 7.31 8.03 Invest Grow F 11.84 12.93 invest Mutual 5.67 6.19 Mut Accurn 5.91 6.50 Mut Grow F 3.21 3.53 Nat Resources 4.90 5.38 NW Cdn 5.24 5.76 NW Growth 4.49 4.93 Prin Growth 4.45 4.88 PrOv Mutual 7.34 8.63 Royfund 6.74 7.02 Temple Grow 7.32 8.02 United Accum 4.62 5 08 Unlver Savings 7.97 8.77 Univest 5.71 6.27 Vanguard..' 5.94 .6.51 Toronto mines, industrials (Supplied by Richardson Securities of Canada) Mstals LONDON (API Closing metals bid-iisk in pounds sterling a metric ton: silver in pence a troy ounce: 962-964: futures 938-939. Tin-Spot 3.080-3.100. futures 2.995- Load-Spot 267-267.5. futures 272.5-273. Xinc-Spot 662-665. futures 593-595. 3-173.5: 3 months IHOR-181. Gold prices LONDON (AP) Wednesday's closing gold prices in U.S. dollars an ounce: London 135.50 Paris 139.19 Frankfurt 136.73 Zurich 137.00 Hong Kong 133.24 Beirut 4.453 a kilo Dollar MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Thursday was down 2-25 at 41-50. Pound sterling was up 2 13-20 at 26 3.20. In New York, the Canadian dollar up 2-25 ;it SI 01 liMOO Pound sterl- infi up 2 17-20 ;it 28 17-20 Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Great Weil Life AsHrance Co., cents, increase of cents, March 1, record Feb. 13. International Machines Corp., increase of 16 cents, U.S. funds. March 9. record Feb. 13. La Verendrye Management Corp., 3Vi cents, increase of one cent; 6 per cent 12 cents; both payable March 1. record Feb. 15. National Draft ami Chemical Co., six rents, pfd 15 cents: both payable March I. record Feb 7. and Central Corp., IS cents; 1st pfd., 65 cents; both payable March 1. record Feb. 14, 2.nd pfd., cents, March 15. record Feb 78; junior pfd. 1st series. .17.5 March 31, record March 15; series A 2M X.J cents. Feb. 1. record Jan. Id; series B 2nd pfd.. 37.5 cents, Feb 15, record Jan. SI. Tel CHICAGO (AP) futures prices moved nervously major exchanges Sugar Cotton futures at the close Valley again, marking a J40-a-bale fall in the last four trading sessions. Silver futures fell nearly six cents an ounce and coffee and wool futures also turned lower. Copper futures were irregular, but cocoa, orange juice and, world sugar closed somewhat higher.' Wheat futures succumbed to selling geared to expectations that the 'Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. 1.76 5.00 9.25 3.25 11.25 1.10 1.14 4.75 CAE Ind Carling O'Keefe Chemcell Cdn Cellulose Cal Power Coron Credit CWN Gas Pfd Cdn Industries Cdn 8.25 4.15 5.75 6.12% 23.25 2.30 10.00 18.00 3.65 States might become an importer Cdn wheat, but corn, oats, soybeans, soy and meal also On the Chicago Exchange, pork bellies advanced 150-point limits, live cattle gained a hundredweight and live hogs were up a hundredweight. Shell eggs were irregular. Grain close: Wheat: Mar 5.70; May 5.41 Jul 4.85; Sep 4.80; Dec Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First 160.00 1.25 6.00 2.55 66.25 .26 Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete 42.50 38.00 22.50 10.00 12.75 42.75 Corn: Mar May 3.02'A; Sep 2.96; Dec 2.71; Mar Cdn Oil Oats: Mar May 1.64; Sep Dec Bay Lakes Oil 12% Winnipeg Quebec Kerr Addison Key Anacon 13.62% .29% Walker Huron Erie Imperial 28.37% 41.00 WINNIPEG (CP) Futures prices rebounded in light trading at Silver Madsen .08 Nickel Int 21.50 session today, on the Winnipeg Commodity Exchange, with several oilseed months at the trading G.F. Martin McNeely .40 53.00 1 Grp A IU Intl Indust Accept 17.12% 4.55 The mid-session pi ices reversed 1 Douglas mixed trend at the close IO with rye the big gainer with West ranging to 8'A cents a Flax reached the 30-cent limit in two months, and its smallest gain was 18 Calumet Noranda Northgate 48.00 5.62% Mass Ferguson McMillan Bloed Moore 18.37% 31.75 49.62% Rapeseed made good gains, with i 33 exception of two months of Bay, which were unchanged and cent higher respectively. Wednesday's volume of trade was 476.000 bushels of flax. of rapseed. of rye and no oats or Man Rayrock Radiore Rio Algom Roman Corp. Sherritt 1.21 .31 34.75 13.62% Cent Power Corp Price Co Rothmans Shell CDA 10.25 14.37% 14.62% 19.12% 7.87% Mid-sessin prices: Flax: May 28 higher 11.28A. July 30 higher 10.56A, Oct. 30 higher 10.13B, Nov. 18 higher Rock Sunmngdale Tek Corp A Texmont United 9.62% 4.25 .21 Sears Steel Canada Selkirk A Texaco Traders Grp 31.37% 13.62% 50.25 14.87% Rapeseed Vancouver: Jan. 11 Mtn higher 7.51 Vi. March 17'A Copper Can June 18Vi higher 6.87 VZA, Sept. 20 higher Hargreaves Carbide Union 9.75 37 Vi Rapeseed Thunder Bav May 17 higher 6.78B. July 1 higher 6.41 B, Sear 3 5.37 Vz Siscoe Versatile 650 unch 6.28B. Sept not open Rye: May 8 higher July 8% higher Oct.. Dec. not Alcan Algoma 33.62% West Cdn Seed Zenith 3.10 2.65 Grain quotes Wednesday Ind HlKh Low May 1110 1081 Jly 1028 1005 Oct m Nov RapewH Jan 740 Mar 723 708'A by RickardfOH Securities of June Sep 12% Rapewed Tbmder 33.87 May Ml 642 Tel. Jly Ocl Industrials 83 up Nov Golds 499 37 ocwn 3 Base Mfitals 10353 down Mftv 4IK Western Oils 273.12 fny zoo tlv YORK Industrials 859.24 May ttft Rails 188.37 up Jly SJ7V4 316% Utilities 93.39 down Oct Stocks 272.98 down Dec U.S. wheat exports set record WASHINGTON (AP) A record 714 million bushels of wheat was exported during the first six months of the fiscal year which began last July 1, new figures by the United States agriculture department (USDA) showed Wednesday. The shipments included large deliveries to China and Russia. Bonn lifts capital import controls BONN (Reuter) The Bonn government lifted most of the country's capital import controls Wednesday and said other countries in the Ban cheques MELBOURNE (AP) Banks are running out of cash because of a ban by members of the Australian Bank Officers Association on processing business cheques. The employees want a 25-per- cent wage increase. An estimated 70 per cent of banks in Victoria state were closed today because of an extreme shortage of cash. Half of Victoria's work force normally paid on Thursday will not get their money, employers said. joint European currency float are planning to do the same. The controls were imposed in 1971 and 1972 to ward off un- wanted inflows of foreign cur- rency when the mark was strong and the dollar weak. A government statement said the changed foreign exchange market situation since the dollar's recent- strong recovery was taken into account in the decision to remove the controls. A government spokesman told a news conference later the decision was taken after consultation- with West Germany's partners in the Luxembourg, the Netherlands, Sweden, Norway and Denmark. These consultations revealed other float countries were planning similar measures, he said. He did not give further details. The exports are expected to rise to at least 1.2 billion bushels equal to 70 per cent of the 1973 U.S. harvest by the end of the season on June 30. According to figures soon to be published by USDA, China emerged as the largest single recipient of U.S. wheat during July-December. Further, soaring wheat prices in the last year pushed the six-month export value of wheat to a record 12.62 billion, more than triple the July- December, 1972, value of million. Super exports have helped drive up costs of farm commodities and, in the case of wheat, have nearly drained reserves. By July 1, the department says, the reserve will be 178 million bushels, the lowest since 1947. During the six months period, China was shipped 95 million bushels of wheat worth 1272.4 million at U.S. ports, compared with 20.8 million bushels valued at million in July-December 1972. Russia, which triggered the wheat export surge 18 months ago with orders which eventually exceeded 400 million bushels for the 1972-73 season, was shipped 72.2 million bushels valued at million in July- December. A year earlier shipments were 97.6 million bushels worth million. JD atcttron 1003 4th Avenue S., Uthbridge Telephone 328-4426 JLjtt tct ervices YOU DECIDE WHERE YOU WANT YOUR DOLLARS TO GO. CANADA LIFE DOES THE WORK FOR YOU. New Selective Investment Policy provides high flexibility plus guaranteed maturity and death values. Canada Life's new Selective Investment Policy provides the best of two worlds. First, it gives you the power to include two basic types of invest- ments in one plan: both common stocks and fixed income securities. With this flexibility, you can select the mix you want and from time to time you can transfer your funds from one to the other at no charge. Second, the Policy gives you the full-time benefit of Canada Life's experienced money-management team. 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