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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 3, 1974, Lethbridge, Alberta July LETHBRIDGE The Herald Business Stocks Miscellaneous Montreal MIDLAND DOHERTY LIMITED WESTERN AND Afton Albany Alia East Ashland BP Cda Cdn Ex Cdn Cdn Ind Gas Cdn Long Cdn Chieftan Dome Fort Giant Gibraltar Gt Gt Cdn Oil Lochiel 50 Lytlon 60 Noble North Cdn Numac Pancdn Pan 12V4 45 Place Ranger Scurry Total Ulster United 12 '4 West West Acres BC Sugar C 62 Block Cdn Pac Inv A 87 Carling 0 Keefe A Carlmg O Keete B Comm Cap 15 Creslbrook Falcon F and M Trust Home Oil Home Oil Hud Bay 12 Hud Bay Hugh Husky Husky Oil B Husky Oil E Interprov Pipe Interprov Steel 75 Kaiser 15 Kaiser Res 79 Loblaw Co C 90 Pacific Pac West Pe-Ben Oilfield Ramer Royal 430 500 335 .95 51.00 6.75 5300 17.75 5.00 900 10 37 Yz 2000 875 950 5200 32.00 1 05 1800 225 1 35 06 02 25 Teledyne Tnmac Canbra Foods Westfield Mm Weston Geo A Pld White Yukon PIPELINE STOCKS Alia Gas Trk A Alta Gas Trk Pfd Alia Nal Gas Gaz Metro Inland Nat Gas N and C Gas N and C Gas B Pfd Pacific Trans Trans-Cda Pipe Trans-Cda A Pfd Trans-Cda B Pfd Trans-Cda War WC Trans WC Trans War CALGARY Acroll Barons Oils N Continental Western Warner VANCOUVER MINES Atlas Explorations Bathurst Norsernmes Dankoe Davenport Dolly Varden Equitonal Res Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Key Industries Wardair OiLS August Petroleum Plains Pele Ponderay Explorations Stampede Intl Res MUTUAL FUNDS All Cdn Compound 5.15 5.60 All Cdn Dividend 536 583 All Cdn Ventures 281 305 Amer Growth Fund 3 93 4 38 A G F Special 2.00 Cdn Invest Fund 4 34 4 76 Collective Mutual 4.42 4.35 Eaton Comnwlth 1234 Ealon Leverage 2 85 Eaton Infl Vent 5 30 Corp Investors 5 29 5 81 Corp Invest Stock Fund 401 441 451 24 1 53 220 78 17 09 6.05 1.85 .04 .09 165 605 .08 1.60 15 75 .61 Great Pacific Grouped In Shares Growth Equity Invest Growth Fund Investors Mutual Mutual Accum Mutual Growth Fund Nat Resources N W Cdn N W Growth Principal Growth Provident Mutual Royfund Templeton Growth United Accum Universal Savings Univest Vanguard 4 13 2.57 5.75 6.32 1042 1138 5 00 5 46 534 588 2 66 2 93 3.91 4.30 4.81 5.29 3 88 4.26 371 407 3 64 3 99 5.07 5.29 7.15 784 2.94 4.83 6 96 7.65 5 44 i.98 197 5.45 Toronto industrials by Richardson Securities of MINES Acme 10 Advocate Asb 1 10 Akaitcho 1 47 Bralorne 1 40 Broulan 43 Belhlehem 1075 Bovis 1 45 Brunswick 4 00 Can NW Land 4 95 Canada Tung 3 60 Cassiar 5 00 Central Pat 80 Chimo 1 13 Conwest 3 40 Cons Rambler 260 Coin Lake 19 Cochenour 1 35 Craigmont 5 25 Dickenson Mines 7 25 Denison Mines 3950 D'Eldona 36 Dome Mines Discovery Mines 1 65 East Malartic 4 55 East Sullivan 2 35 Falconbndge 39 25 Frobex 19 First Manlimes 39 Giant Y.K 14 Granduc 2 00 Hollmger Hudson Bay A Hydra Ex .60 Iron B-iy 4 70 Iso 1 33 Johet Quebec 24 Kerr Addison 11 Key Anacon .28 Labrador 29 00 Lake Shore 4 35 Langis Silver Madsen R L 1 41 Malartic G 1.15 Martin McNeely 26 Maclntyre 27 50 Meta 15 Midrim 14 Intern Mogul 6 62'A Nu West Homes A 6 37Vz New Athona 22 New Calumet Noranda 36 50 Northgate 5 00 Norlex 20 Point 29 87Vi Placer Dev 18 00 Pax Exp 1 30 Ouebec Man 20 Rayrock 1 02 Radiore .24 Rio Algom 24.25 Roman Corp Sherntt Gordon 7 87Vj Steep Rock 1 43 Sunnmgdale 6 00 Tek Corp A 3.00 Texmont United Canso 14 75 Western Mines 2 43 WH Copper Mines 3.05 Wright Hargreaves 1.85 Willroy 1 58 Windfall 12 Yellowknife Bear 3 00 Zenmac 08 INDUSTRIALS Abitibi 10.50 Alcan 28.12'2 Algoma Sleel Alco Ind 1250 Jannack 6 00 Agra Ind 7 Bell Tel Brascan A 1375 BC Tel 52.50 Burns 11 25 BC Forest 14 50 BC Sugar A 18 25 Bow Valley Ind 17.75 Cable 1325 CAE Ind 8 00 Carling O'Keefe 2.35 Chemcell 5 Can Cellulose 4 75 Cal Power Coron Credit 3 00 CWN Gas Pfd 8 62 V2 Cdan Ind 19.75 Cdan Marconi 2 81 Cdan Vickers 1637V3 Chrysler 1500 CPR Commco 25 75 Cons Bathurst Cons Gas 14 50 Dist Seagrams 35 50 Dom Bridge 43 75 Domtar 24 Dom Textile 10 00 Dom Stores 14.75 Dome Pele 23 75 Dofasco 28.25 Gien Mobile 3.30 Grt Cdn Oil 750 Gen Motors 46.25 Grt Lakes Paper 20.37Vz Gulf Oil 25 25 Greyhound 1550 Hawker Sid 5.25 Hiram Walker 44 50 Imperial Oil 26 Imasca Int Nickel 26 Int Pipe 1375 Inv Grp A Inl Int'l 1075 Ind Accept 1600 Kaps 2.01 Kel Douglas A 5.00 Laurentide 8.00 Loeb 3.30 LobUw A 6 Metropolitan 11.50 Massev Ferg McMill Bleed 25 00 Moore Corp 49 00 Molsons A 20 50 Molsons B 17.75 Nachurs 6 North Cent Power Corp 10 Price Co 13.00 Peyto 4 90 Rolhmans 12.00 Shell CDA 12.75 Simpsons Simp Sears 1087V4 Steel Can Selkirk A 1275 Texaco 36 00 Trad Grp A Trans Mtn Pipe Trans Can Pipe 9 37V2 Union Carbide 19.00 Union Gas 7 Union Oil 9 25 United Siscoe 5.00 Versatile Mfg 6 Westeel 1950 Westons 21.25 Woodwards A 22 75 Canbra Foods 3.35 BANKS Can Imperial 22.37V-. Montreal 15.00 Nova Scotia Royal 29 50 Tor Dom 33.50 New York by Richardson Securities of Amr. 45 25 Woolworth Anaconda 21 Westmghouse Elec 1300 Beth Steel 30.12'i US Steel 4450 Ohrysler 15.50 Gen Tel Elec 2167Vi Comsat 29 TORONTO AVERAGES 3upont 159.00 20 Industrials 180.60 down .72 General Motors 48 20 Golds 408.81 down .52 3ull 10 Base Metals 76 15 down nl Harvester 23.25 15 Western Oils 17327 down 1.73 Copper 31.75 Volume dontgomei-y Ward NEW YORK AVERAGES jears 82.00 20 Industrials 794 98 up 4 30 7050 20 Rails 157.03 down .65 Gulf 25.12 15 Utilities 69.27 up .66 'exas Co 24 75 65 Stocks 238 27 up 85 Vix Corporation 12.25 Volume The Bank Rate-Jobless Seesaw 1967 High unemployment follows high bank rates -----Bank Rate Unemployment 1968 1969 1970 1971 Reduced unemployment follows low bank ra. 1972 1973 '74 Inflt EDMONTON The provincial auditors depart- ment and specially-hired oil industry experts are planning a revenue audit of Great Canadian Oil Sands later this week. Provincial Auditor Douglas Rogers said Tuesday. He confirmed that his department had expected to go in sometime next week to begin the audit. Mr. Rogers said his depart- ment is interested in review- ing the company's financial statements to see whether production and royalty payments coincide with reports the company has been filing monthly. Great Canadian Oil the only company now operating in the Athabasca oil sands in northern has Oil sands gamble hits million ST. Ont. Development of Alberta oil sands by Great Canadian Oil Sands Ltd. a sister company of the United States- owned Sun Oil had a significant effect on Canada and a Sun Oil engineer said Tuesday. C. Leslie technical services department engineer of Sun Oil Co Toron- made his remarks at a Kiwanis Club meeting. is ironical in this era when U.S. investment in Canada is being looked at with a jaundiced eye that the GCOS plant came into existence because our parent company in the United States was will- ing to take the he said. Sun Oil took the plunge in 1964 by backing it contemplated a direct investment of GCOS has invested million since he bonowed about million as of March has lost million. Today it is a Ford hikes car prices DETROIT Ford Motor Co citing recent steel price announced Tuesday an average increase of 1.3 per or a in the suggested retail prices of its 1974 model cars and trucks. The increases are effective immediately although Ford said firm retail orders receiv- ed by dealers through today be Also effective Ford was a increase in the suggested retail price of the 1974 Courier compact pickup truck which is im- ported from Japan. public company with about 000 shareholders most of whom are Canadians. development of the oil sands by GCOS has had a significant effect on Canada and he said. work force of which includes firms doing contract receives a payroll m ex- cess of million each year. work including the management is made up of Canadians or those who have chosen Canada as their Mr. Richards said the oil sands are still probably two decades away from supplying a- substantial portion -of Canada's needs. consistently lost money on its operations since they started six years ago. It expects to break even this year. from the monthly production records I've got no reason to believe or say anything is Mr. Rogers also said that several questions raised in a letter to the government by Chris unsuccessful candidate for the Liberal leadership of will be investigated at the same time. Mr. Harder asked what price Great Canadian sold their product to Sun Oil for during the last five what was shipped through company's pipeline and the market value of the products shipped to Sun Oil. Mr Rogers said his depart- ment had planned to go into Great Canadian's financial records before Mr. Harder sent his letter. involved in new types of collections of he said. Because statements such as those by Mr. Harder had been we're going to take a look at them. is no longer just looking at debts and credits. GCOS has too much at stake. I don't want to pre- judice their but I haven't run into anything that has come in yet to suggest anything is Alta. cattle operator faces fraud charges RED Alta. An Alberta cat- tle businessman charg- ed with fraud and theft involving more than has been bound over by Australian authorities for extradi- tion to Crown Prosecuter Stan Fowler said Tuesday. Joseph P president of Joseph P. Fitzgerald Livestock Ltd. of will be escorted by Canadian police to Red Deer to face the he said. He has until July 10 to file a writ of habeus cor- pus to prevent the extradition journey. Fitzgerald has been sought since last Sep- tember when Justice Minister Otto Lang made a formal request for his extradition from the Australian Attorney General's department in Can- berra. Fitzgerald was arrested in February and again in April but was freed on bail. The initial request for extradition came after Provincial Judge W. A. Shaw of Lacombe heard_ evidence against Fitz- gerald's business. Charge U.S. farm group with fraud WASHINGTON The United States Securities and Exchange Commission has sued one of the U.S.'s major farm organizations with fraud in the borrowing of more than million from its members. The SEC said the National Farmers Organization had borrowed the money under false failing to disclose fully its financial condition. U.S. loses top spot on oil scene NEW YORK The United States has dropped from No. 1 in world crude oil production to No. 2 and it may be on its way down to No. 3. The latest production figures from Saudi Arabia show that it now is the world leader in crude production with nearly nine million barrels produced daily in May. Unless the yet-to-be released June figures show a huge Saudi Arabia seems certain to hang onto the crown. the Soviet e'enerallv considered a close has been creeping up slowly. Production figures from the Soviet Union are dif- ficult to but many oil experts think the U.S.S.R. will pass the United States if it hasn't done so already. The drop from No. 1 reflects the continuing deterioration of U.S. oil a decline thai started slowly from the high point of 10.8 million barrels a day in 1971. to its current level of about 8.5 million barrels a day. The Uniled States had been the No. 1 producer since Ihe turn nf thp rontnrv Sharply lower market prices in TSE trading 'ation cause The big issue in the 1972 election campaign was in 1974 the issue is inflation. High unemployment figures in the early 70s resulted from the of 1968-69. To combat interest rates were reduced and the money supply was increased. an economist says these policies used to deal with the unemployment problem now are coming home to roost. Oil sands revenue audit planned by government TORONTO Prices on the Toronto stock market were sharply lower in moderate midmorning trading today. The industrial wide- ly-based indicator of market fell 1.02 to golds 1.55 to base metals .05 to 76.37 and western oils 1.61 to 173.39. Volume by 11 a.m. was MONTREAL All sectors moved lower in light trading on the Montreal Slock Exchange today Volume at 11 a.m was 194.600 compared with 196.200 shares at the same time Tuesday The industrial index dropped 1 lo 192 41 the composite 1 02 to 182 23 and utilities 66 to 122 70 while papers fell 41 lo 115 19 and banks 14 lo 22521 Corp dropped 1'j to Hudson i Bav Compam l'i to S15'i Consolidated Bathursl 1 to Inter- national Nickel 'i to and West TrjnbmisMon 'z to Anionfi speculative issues. Americ Ltd rose one cent to six cents on a volume1 ol 21 500 shares traded VANCOUVER Prices were down on light trading Tuesday at the Vancouver Slock Exchange Closing volume was 1 812 134 shares In the industrials Canterra was up 01 at 44 en 14.000 shares Home Oil B was unchanged at on 5.000 shares Home Oil A was unchanged at on 5 000 Jolly Jumper was unchanged at 55 on 4 500 shares Block Bros was un- changed at and Clptain Inter- national dropped 05 to 20 000 shares compared with shares at the same time Tuesday. Declines outnumbered ad- vances 149 to 58 with 126 issues unchanged. MICC Investments fell 1 to Imperial Oil A to Royal Trust A Vz to No- randa A Vz to and Con- sumers Distributing to Market trends In the mines. Skaist was up 1' 2 cents to 18 on 174.000 shares Consolidated Fortune Channel was down 07 at 62 on 94 500 shares Sonesta dropped 13 to 87 on shares. BS Developments increased 03 to 53 on 37.750 shares Bathurst was unchanged at 59 and Exeter Mines dropped 01'z to 19 In the oils Payette was down 08 at 46 on 45.200 shares Cop-Ex Mining was unchanged at .35 on 30.000 shares Pavelle Warrant A dropped 03 to 24 on 9.000 shares. Plains Petroleum was unchanged at 15 on shares August Petroleum was unchanged at 30 and Bixon Petroleum was unchang- ed at NEW YORK The stock market was todav levelling ofl .liter Tuesdav s sharp drop The II 30 j m Dow Jones ji erage ol 30 industrials was up 1 17 at 791 85 but losers maintained d three-Lo-iuo edge on gamers on the .N'ew York Stock Ex- change Trading HJ.S moderate Analvsis noted some bargain hunting in blue-chip and glamor issue.s which were particularly hard hit mTuesdav s decline Puliiioid. which tumbled 11'K Livestock Calgary Hog prices CALGARY Light receipts lo 11 am Wednesday at the Calgary- public stockvards totalled about 800 head They were mostly slaughter cat- lle wilh a large number of heifers on olfer Trade was active with a good demand Slaughter steers were mostly steers weighing under pounds Steers weighing more sold steady Sleers under 1 000 pounds were dis- counled Heilers met a good demand at prices d full SI or higher One load ol out- standing crossbred heifers weighing aboul 950 pounds sold at 43 80 Heifers under 800 pounds discounted Cows sold fullv steady Steers A1-2 49'to 50 90 heifers Al-2 40-43 cows D1-D2 30 lo 32. D3 25 lo 2G D4 20 10 24 There were insufficienl replacement catlle sold early to es- tablish a markel No hogs were sold Metals LONDON Tuesday's closing metals bid-ask in pounds sterling a metric silver in pence a troy ounce Copper-Spol futures 853-854 Tin-Spot 3 435-3 futures 3.525- 3526 Lead-spot 2235-22451 futures 218- 2185 Zinc-spoi futures 469-470 Silver-spot 178-179 3 months 183 5- 184 Gold prices LONDON Closing gold prices in U S dollars an ounce' London 136 00 Pans 135 93 Franklurt 140 03 Zurich Hong Kong 137 85 Beirut 4.628 a kilo Beef futures WINNIPEG iCPl Live beef futures close Wednesday July 4570B.NOV 44 Jan. 44.10 Friday's volume No contracts Dividends THE CANADIAN PRESS Dividends aie quarterly unless otherwise noted DuPont of Canada 25 cents. JuK 31. record Julv 1 GSW Ltd 5 per-cent pfd 25. 4ug l. record Julv 11 EfJMONTON Prices lo 11 a m Wednesdav provided bv ihe Alberld Hog Producers Marketing Board Tuesdav s prices m brackets Edmonton 50 Calgarv Nil Red Deer .Nil Grande Prairie 35 25 Nil I Hogs sold lo 11 a m 2 618. hogs sold Tuesdav. 4721 average 3700 sows average 20 50 Currencies MONTREAL Wednesdays mid-day foreign exchange selling rales supplied by Ihe Bank of Monlreal Auslralia dollar 1 47 Bermuda dollar 1 01 China renmmbi 5100 Denmark kroner 1680 France franc 2095 Germany mark 3930 lira 001560 Japan ven 003460 Mexico peso 0793 Spain peseta 0174 Swilzerland franc 3345 Uniled Stales dollar 9765 United Kingdom pound 2 3600 USSR ruble 1 30 Quotations in Canadian funds Dickenson was down to Roman Vt to Denison V-i to and Dome Mines to Great Canadian Oil lost V2 to Western Decalta to and United Canso to Camflo gained Vg to Simpsons to and Seaway Multi-Corp. 25 cents to Tuesdav led the active IIM again todav rebounding to S24 i Amone other glamor issues which posiod largo losses Tuesdav. DIMH-V retoveied l'i Control Data 's in 421 Burroughs to anadian issues Mclnlvre I I'll 'j lo s-29 Dome Mines 10 Mean i lo i Seagrams'. lo Winnipeg grain WINNIPEG Rapeseed prices at Vancouver and Thunder Bav terminals both posted strong gains in a brisk volume of trdde at mid-session on the Winnipeg Commodity Exchange today Flax also made advances while rye gamed slightly in a lighter volume Volume of trade Tuesdav was 327 000 bushels of flax 1 202 000 of rapeseed and 1 206 000 of Mid-session prices Flax July cents higher 10 03B. Oct 17'z higher 9 77 7'j higher 932B. Dec 12'2 higher 905 Vancouver Rapeseed Sfpt 18'i higher 7 52 Nov 19' i higher 3 67'iA Jan 20 higher 6 44A March 15 higher 626B Thunder Bav rapeseed July 20 higher 7 SOB Ocl 13 higher Nov II higher 6 40B Dec two higher 582B Rye Julv 2 Oct 5'i higher 293'jA. Dec higher 2 iA Mav no quote Grain quotes basis Lakehead High Low Flax Jlv 990 985 Oct 955 Nov Dec 892'j 890 Rapeseed Vancouver Sep 727 Noi 748 'j 642 Jan 624 6 Mar 611 608 Rapeseed Thunder Oct 632'. t.22 Nov Dec Close 989 'i 924'. 892'j 648 'j 624 Bll 710 032 fi29 Jlv Oct Dec Mav 292 291' 285 287'. 28fi'i 288' 280 280 Chicago markets Gold futures WINNIPEG iCPl Gold fulures US funds. Winnipeg Commodity ex- change close Tuesdav IflO-ounce contracts. July 74 139 25A. Ocl 74 145 50A Jan 75 150 BOA Apr 75 157 OLA Julv 75 161 70A Fndav s volume 402 contracts 300-ounce contracts- Aug 74 142 OOA. Nov 74 147 9CA. Fch 75 153 90A. May 75 158 60A Aug 164 60A Fndav's voh'me 56 contracts Dollar value MOiN'THKAL US dollar in terms ol Canadian funds al noon lodav was up 1-25 at JO 97 21-50 Pound .st-rl- mg vva.s up 43-100 al S2 9-10 In York the Canadian dollar was down 1-20 al 02 32-50 Pound .sterling was up 3-10 at 40 1-20 Peed prices WINNIPEG Wheai board domeslic feed grain prices Tuesdav 3CW red spring wheat 365'j No 1 feed barley 2 46'2. No 1 feed oats 1 77 CHICAGO Live cattle dnd live hog futures strong for more than d week with limit gams djily fell back sharplv with limit lossc.s Tuesday Pork bellv futures and shell epgs als-o fell heavily on the Mercantile Ex- change Some of Ihe weakness m animal futures was traced to selloffs in grain futures on the Board ol Trade for a time Wheat and oals were down three to aboul 10 cents for a lime bul wheat recovered while corn and oals closed on mixed tones Sovbeans closed 15 cents higher while oil rose limit nf JOO poinls and meal closed about S2 .1 ton lower Silver fulures fell back again under selling piessure appeared lo follow a weakness that developed in gold prices abroad Gold fell for the dav Silver down the limn of 20 cents an ounce in Chicago and New York bul recovered later in each session Heavv marketings of cattle dnd hogs slronglv influenced selling of fulures Some profit-taking then developed and then buyers backed off Pork bellies eased on ihe selloff m hogs and con- cern that Ihe rise in cash prices might have an adverse effect on baron sales Al the close Chicago wheat was 4 lo 9 cents higher Julv 4 40 Gulf hard red wheat not traded all corn 6'j lower lo i higher Julv 3 02 oals un- changed lo Ji lower Julv 145 and soybeans 8 lo 15 higher July 5 97 Grain quoles Tuesdav Wheat Jul 4 40 Sep 4 42 Dec 4 45. Mar 4 50 May 4 50 Corn Jul 3 02. Sep 2 96 Dec 2 84'2 Mar 2 96 Mav 2 92 Oats Jul I 45 Sep 1 Dec 1 Mar 1 56 Mav 1 59 DOW JONES _ 30 INDUSTRIALS Meet w MH IMC hh New low The stock market tum- bled 15.56 points Tues- day to a 1974 low of 790.68. New York brokers said the drop was a re- action to disappointing earnings for Polaroid and Darnnn Year GUARANTEED SAVINGS CERTIFICATES Interest payable aeml-annually or compounded to maturity. Member Canada Deposit Insurance Corporation Depositors can purchase Olympic coins FARMERS MERCHANTS TRUST 309 7th Street Lethbrldge Phone 328-5540 Fm ;