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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 9, 1973, Lethbridge, Alberta 14 THE IETHBRIDGE HERA1D Monday, July 9, 1973- TSE prices up in light trade TORONTO (CP) Prices on the Toronto stock market moved fractionally higher in light mid-morning trading to- day. The industrial index, consid- Convertible cars bow to progress DETROIT (AP) Yet an- other piece of the American Dream gave way to progress here as Ford Motor Co. pro- duced its last convertible. General Motors Corp. now Is the one TJ.S. auto-maker in the convertible business. Chrysler and American Mo- tors quit earlier. In 1965, U.S. automakers produced convertibles, an all-time high for the indus- try. William P. Benton, Ford vice president and Lincoln- Mercury general manager, says air conditioning probab- ly is the greatest single fac- tor in the demise of the con- vertible. "Air conditioning provides comfort that convertibles lack; controlled fresh air in- side the car, with dust, noise and wind shut he said. Still it wasn't without a bit of nostalgia that Ford rolled its last convertible off the line; a 1973 Mercury Cougar which immediately was de- livered to Floyd Moore, a Chi- cago automobile collector. ered the major indicator of market trend, rose .27 to 206.00, base metals .18 to 100.77 and western oils .88 to 211.86. Golds were off 3.94 to 323.06. Volume by 11 a.m. was 000 shares compared with 582, 000 at the same time Friday. Bank, beverage, real estate and steel stocks were among sectors of the market recording gains while food processing, pa- per and forest, industrial min- ing and trust and loan issues were lower. Trading was halted in shares of Security Capital B, pending release of information by the company. The shares closed previously at 48 cents. Molson A rose to Walker-Gooderham to B.C. Sugar to Realty Capital to and Simpson- Sears to Foodex was off to Weston Vt to Peoples De- partment Stores to Vic- toria and Grey Vt to and Inco Vs to United Mindamar was up 30 cents to and Noble four cents to Camflo was off 40 cents to and Hudson Bay Mining to United Canso rose 45 cents to and Francana 10 cents to 1 Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied fcy IHberty. McCaatg Limited) (11 WISTIRN OILS AND MINIS AlbMy Oils E Gas 7.1S Almlnex 4.35 AMtnefa 3.50 Ashland O G 11 50 BP Cdn 14.50 9.90 Cdn Soutti 3.SO Cdn Export Gas 3.05 Cdn HomMttd Cdn Ind 6 and 0 4.7S Cdn Long island M LAST BID OR SALE (11 a.m. Quotes) (11 a.m. Quotas) Cop Invtst F F and M Trust Co coiitct Mot s.17 5.ii Gcnstar 15.12'A Common Intar 14.47 15.90 Global Comm 4.0.00 common Lav 3.66 4.02 Home Oil A 42.25 Common Van Home Oil B 3800 Corp Invest Hud Bay Co 17.75 crop Invest f Hud _Bay Oil ._ 42.25 Ofiy Fd O.S. Hud Bay OH A p 46.50 Hugh Rus C Pfd 42.00 ski Announcement JERRY NAGEL NU-MODE REALTY ore pleased to announce the ap- pointment of Jerry Nagel as sales consultant for their firm. Jerry comes to Nu-Mode Realty with an extensive knowledge of real estate. If you are thinking of buying or selling property, call Jerry at 328-8011 or 327-0287. MONTREAL (CP) All sec- tors except papers advanced in light trading on the Montreal stock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, compared with shares at the same time Fri- day. Industrials advanced .65 to 228.71, the composite .54 to 214.34, banks .50 to 243.56 and utilities .18 to 146.07 while pa- pers declined .51 to 115.37. On the Montreal Stock Ex- change, Texaco Canada gained to Banque d'Epargne to Moore Corp. to and Imperial Oil to while Peoples Department Stores dropped to On the Canadian Stock Ex- change, Gold Hawk Mines was up a half cent to 40% cents on shares traded. A bedspread made from wheat An Amish quilt made from wheat! Areial photo of a Lancaster, Pa., county wheat field looks much like a bedspread as the farmer cuts his winter wheat. The light area" in the centre is yet uncut wheat. The smaller "stitches" are individual sheeevs of wheat while the larger "stitches" on the perimeter of the field are sheaves that have been col- lected bundles in preparation for and hauling off the barn. Businessmen jittery over Canadian dollar NEW market YORK prices (AP) drifted Stock lower again today in listless trading which some analysts felt might indicate positive factors. However, they also said that the battering of the dollar and the uncertainties about the economy in general continue to depress prices. Among Canadian issues on the New York exchange, Mcrntyre was up to Canadian Javelin to Seagrams to and Cana- dian Pacific to Hudson Bay was down V4 to Dome Mines to and loco Vi to By BUD JORGENSEN Canadian Press Staff Writer The Canadian dollar has been a model of stability while other currencies drift from crisis to crisis, but the situation still is making many Canadian busi- nessmen jittery and consumers have reason to worry. On the surface things look good for Canada and manufac- turers here are looking at a sit- uation where potential com- petitive advantage in some markets is improving every day. The value of the floating Ca- nadian dollar has been within a fraction of a cent of the United States dollar for months. Mean- while the value of the American dollar has been smking and dur- few days it has record low each tog the last closed at a day. As the value of the U.S. dollar declines against the German mark, the Japanese yen, the French franc and other cur- rencies, two things U.S. goods abroad and become imports happen: cheaper become LARGE ISLAND Vancouver Island has an area of square miles. MOLSON INDUSTRIES LIMITED more expensive in the U.S.. With the Canadian dollar ap- pearing to go along for tba ride, businessmen here in theory have this situation: The U.S. market is stable, exporters are in a better competitive position when selling America, and being prices. outside North importers are squeezed by higher The stable U.S. market is up- sst, however, because a price freeze is in effect and exports of certain some feed grains-iave been rigidly controlled. Keith Dixon, general manager of the Canadian Importers As- sociation, said consumers will notice the results in food prices. He said the freeze on prices has increased demand for foodstuffs in the major supplier of the Canadian ex- p o r t markets squeezed. are being The other side of the declin- ing dollar value is a rise in the values of European and Japa- nese currencies and this means iiigher prices for imports to Canada. Mr. Dixon said prices of Ger- man goods landed in Canada lave gone up 25 per cent since Fan. 1 and Japanese items by 18 per cent. Cattlemen irked at show change Mr. Dixon contends that the US. dollar is undevalued and with it the Canadian dollar. which has been floating since mid-1970. Money market sources say the Bank of cen- tral bank, which implements federal fiscal policy has not been intervening in money markets in recent months to control the value of the dollar. They describe the dollar value as "stable" and Bank of Canada activity in money markets as "modest." CREATES ADVANTAGE About 70 per cent of Canadian foreign trade is with the U.S. Japan and the European coun- tries account for most of the re- mainder and it is here that there is the exchange rate ad- vantage for Canadian exporters. The export controls adopted jy the U.S., which also cover scrap steel, represent a concern about protecting domestic mar- lets. Protectionism is a worri- some thought for businessmen o countries like Canada, which rely heavily on foreign trade. 'Everybody's jumpy as heU an around the said Carl Beigie, executive director of the C. D. Howe Research Institute n Montreal, which does eco- nomic studies financed by pri- vate contributions. Grain prices WINNIPEG- (CP) All commodities were down in a good volume of trade today at mid-session on the Winnipeg Commodity Exchange. Rapeseed prices were down the daily maximum, of 20 cents in all futures while flax de- dined 10 to 13 cents. Oats, barley and rye worked slightly lower in a moderate demand. Volume of trade Friday was bushels of flax, of rapeseed and of rye. Mid-session prices: Flax: July 11 lower 7.98A; Oct. 10 lower 7.39A; Nov. 10 lower 7.09; Dec. 13 lower 6.87. Rapeseed Vancouver: Sept. 20 lower 6.03A; Nov. 20 lower 5.66A; Jan. 20 lower 5.59; March 20 lower 5.51B. Rapeseed Thunder Bay: July 20 lower 5.73; Oct. 20 lower 5.56A; Nov. 20 lower Dec. 20 lower 5.16y4A. Oats: July 1% lower Oct. 1% lower Dec. 1% tower 1.32A. Barley: July 1% lower Oct. 3 lower 2.0134B- Dec. 2% lower 1.99B. Rye: July l lower 2.34A: Oct. 4% lower 2.30; Dec. 2% lower 2.31. ___ Gt Cdn OH Sands Husky Oil Husky OH B __ Husky Oil D War 7.60 ____ ____ Husky Oil E War Cdn Superior 49.50 Hys of Cdn 3.15 Charter Oils 400 inter Prov P Wts 9 05 Chleftan 9.90 Inter Prov S tnd P 13.50 DonrM Pete P.OO Res 2.90 Dynasty 8.40 Loblaw 2.40 C Pfd 29.00 Fort .31 Magnasonlcs Giant Mascot 265 Pacific Pete Granule 9.20 Pacific W Airlines 9.50 Greet Plains 27.50 PeBen Oil Services 7.25 Rainier ine 4.75 2.06 Royal Trust 22.00 1.76 Capital 3.45 1.24 Sandwell 4.50 7.50 Teledync 4.10 14.50 W Cdn Seed Pro 500 12.87W Westfleld 1.12 12.12ft Weston (Geo) A P 61.00 1.16 Whltepas and Yuk 11.75 .21 PIPELINE STOKS .59 Alta Gas Tr L A 12.50 .40 Alta G Tr L Pfd 71.25 .30 Alta Nat Gas 19.00 16.25 Inland Nat Ga s 10.25 13.50 N and c Gas 9.6214 .44 N and C G B Pfd 22.00 670 Pacific Gas Tr 11.75 .95 Gaz Metre 4.35. Equftorlal Lochlel Explor Lytton Minerals Noble Mines North Cdn Oils Numac PanCdn Pete Pan Ocean Patrol Pinnacle Place CM Ponder Ranger Oil Scurry Rain Selbens Spooner Total Pete Ulster Pete Westcaast Pete Western Decalta Gret Pacific Gr In 21.87'A Gr Equity Pfd 41.25 Invest GrFd Invest Mut Mut Aceum Mut Gr Fund Nat Resource N.W. Cdn N.W. Growth Principal Gr M75 Templeton Gr Unl Accum Unl Savlnga Unlvest Vanguard CALOARY Acroll Barons Oils N. Continental West Warner VANCOUVER MINIS Afton Atlas Explor Bath Norsemtnt Croyden e.95 7.64 5.94 6.52 5.25 KM! 11.41 4.47 4.19 3.36 3.70 1145 12.96 6.18 5.80 6.17 3.38 X72 7.55 8.30 5.35 5.88 4J1 4.96 4.99 4.49 6.37 6.66 8.53 9.32 4.77 5.24 7.44 I.1S 5.71 4.27 S.92 .47 .01V, MISC INDUSTRIES Acres Ltd Aquttalne B.C. Sugar Pfd 04odc S.tfVj Gaz Metro A Pfd 64.00 5.10 Tr Cdn Pipe 30.75 Lornex Primer Res Tr Cdn P A 117S Tr Cdn P B Pfd 20.62'ATr Cdn P War 6.40 14.50 W Trans 18.50 3.6S WC Trans War 3.50 .43 .75 .05 l.fS .46 .28 16" 10.25" .11 .13 Cdn P Inv Pfd Crestbrok F Ind Crowsnest Indust Cygnus A Cygnus B BOO MUTUAL FUNDS It IS All Cdn Com 674 733 7.87V4 All Cdn Divid 7.21 27.00 All Cdn. Vent 343 Amer Gr Fd 5.04 AGF Special 246 775 7.75 9.00 INDUSTRIALS Col Brewing 2.90 Key Industries .30 Wardalr J.on OILS 784PRP Explor 150 3 73 Plains Pete .18 5.53 Pooderay Explor 95 stamp Intl Re 1.45 J.T.BIaek Thft election of D. G. "WiDmot as Deputy Chairman of the Board Blackas Limited, ty the Honourable H. dcM. Molson, Chairman of the Board. Mr. merger vnfh Anihes Impcrjil limited, of which he was President the Molson organisation in senior accounting and operating capa- cities, was previously Esccotive "Vice President of the company. CALGARV (CP) Cattle- men Sunday expressed dismay that next year the annual agri- cultural show will be divorced from the Calgary Stampede. Tom Hall, assistant general manager of the Stampede, said this year's show marks that last time the agricultural ex- hibition will be held as part of the 10 day Stampede. Next year, there are plans to hold the agricultural show on dif- ferent dates with the emphasis more en production than on display. The change will re- lieve congestion, he said. Cattlemen said the competi- tion and incentive win be lost if their show is excluded from the __________________ Owen Richards of Richards Jed States "to play to a select Farms, Red Deer, questioned 1 rural crowd in an off-season." the emphasis on production rather than on display. "We're displaying our pro- duction and through these cat- tle shows the breeds have im- proved Leonard Wylie, past presi- dent of the Ayrshire Breeders Association, said the cattlemen had been told there would be a fall show next year but "that just won't work for us." "We won't get the competi- tion in the dairy sections that we do in the summer He also said the travelling herds will become a thine of the past It would not be worth-while :o haul cattls from Ontario, British Columbia and the Unit- BIG INDIAN DRIUING FOR SALE 1970 VERSATILE D T45 TRACTOR Cummins V470 Engine 1176 Hours, duo! wheels, good rubber, new tronsmiwion, lubrifiner filter, outomotic shuHcrs, oir conditioned cob. machine is in A-7 condition. KENTING BIG INDIAN DRILUNG 415 MONUMENT PLACE SOUTH EAST CALGARY PHONE 272-8811 Car sales set record TORONTO (CP) Major Ca- nadian automobile manufac- turers report record sales for June and for the first half of 1973. General Motors of Canada Ltd. had the highest vehicle sales in its history in June with up 31.2 per cent from June, 1972. For the first half of 1973 total sales rose 32.4 per cent from a year ago to Ford Motor Co. of Canada Ltd. sold cars and trucks in June, compared with in June, 1972. The six-months total was up from Livestock CALGABY (CP) Receipts to 11 a.m, today from the Cal- gary public stockyard shows sales of 80 head, mostly steers. Trade wa active with slaughter steers selling steady. There were no heifers on offer. A few cows and bulls sold steady. Steers Al and 2 44.50 to 46.50. Cows Dl and 2 33 to 34, D3 31 to 32.75, D4 27 to 30.50. Good bulls 37 to 41. Replacement cattle were practically all steers, with steers 800 to 950 pounds selling steady. There were no stock calves on offer. Good feeder steers more than 800 pounds 44 to 46. Hogs fob Calgary to li a.m. Average base price 48.55. Preliminary slaughter figures for the week ending July 7: Alberta hogs beef 944, Canada beef 765. Toronto mines, industrials (11 a.m. Quotes) By RtekartMra Secorittei of Canaia) LAST BID OR SALE a.m. Quotas) (11 a.m. Quotes) (II Land TORONTO Acme Advocate Asb Akalteho Aldona Brahma Broulan Bethlehem Bovis Brunswick Cdn N W Cdn Tung Cassiar Central Pat Chimo Conwest Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falcon Frobex First Marltlmes Giant Y K Granduc Hollinger Hudson Bay MS Hydra Ex iron Bay ISO Juliet Quebec Ken- Addison Key Anacon Labrador take Shore Langls Silver Madsen R L Malartic G F Martin McNcely Meta Mldrlm Intern Mogul Nu West Homes New Atixna New Calumet Northgata Nortex Oslsto MINIS .10 1.40 1.30 .35 2.10 .43 14.00 2.00 4.70 675 1.80 10.50 1.06 1.30 5.50 .18 1.15 6.85 4.00 33.00 Pine Point Placer Dev Pax Exp Quebec Man Rayrock. Rsdtore Rio Algom Roman Corp Sherrltt Gordon Steep Rock Tek Corp Texmont Upper Cdn Western Mines W H Corp Mines Wright Hargreaves 1.05 llroy Will Windfa'l Yellowknlfe Zenmac INDUSTRIALS Bear 3100 Dom Stares 27.75 Dome Pete 2.51 Gt Cdn Oil Sds .13'4 Gt Lakes Pap 1.47 Glen Mo Gen Motors Hiram Walker Huron and Erie Imp Oil Imasca Int Nickel Int Pipe Inv Group A Int Utilities Indust Accept Kaps Kelly Doug A Laurentlde Loeb Loblaw A Metro Stores .31 27.00 760 15.50 1.54 390 .23 in 2.91 3.00 9.00 21 JD 9.00 51.75 27.75 39.75 28.00 27.75 24.75 1.25 23 JO 17.12Vi 1.10 .21 3.40 4.2S 11.12U 4.80 tJO 17.75 9; 50 Alcan 1JO Algoma Steel 455 Atco Ind 2.65 Atlan Sugar 66.50 Agra Ind .26 Bell Tel 50 Braz Trac 9.60 B. C. Tel 335 Bums 4700 B. C. Forest 25.25 B. C. Sugar .36 Bow Val Ind 3.60 Cable 2.01 CAE Ind .25 Cdn Brew 11.75 chemceli Col Cellulose 42JO Cal Power 315 Coron Credit .08 CWN Gas Pfd 1.60 Cdn Indus 1.05 Cdn Marconi .44 Cdn Vtckers 50.00 Chrysler .19 CPR 16 Comlnco 12.62V4 Cons Bathurst 15J50 Molsons B 10.12% Nachun 41 tufa North and Ctnf U.37VS, Poww Corp SI 00 Price Co Rothmtnf st Law corp Shell CDA Simpson's stmp Steel of Can Selkirk A Texaco Tran Mtn Pipe Tr8n Can Union Carbide union Gas 1375 Union Oil 3 w United Slscee 14 50 Versatile HOg 21.00 24.00 25.25 6.25 13.00 ItJO 17.75 jj 25 14-25 7025 3 2400 11.75 30.371% 14JD 39.75 .17 .26 50.25 5.30 Cons Gas DIst Seagrams Dom Bridge Grey Lines Hawker Sid Domtar Dom Textile B A 21 75 West Cdn Seed 1S.SO Zenith Elee 39.12ft BANKS 35.25 Cdn Imperial 18.75 Montreal 4.30 Nova S0.3714 Royal 7.62ft Toronfo-Dom 4.25 13.00 9h2S 24.50 5.QO 2.45 ST.2S 17JO 31.23 New York stocks (SippBed By Rktaram Seevtttet Amr T-T Anaconda Beth Steel Chrysler Comsat Dupont Gen Motors Gulf Int. Harvester Keim. Copper Mont ward Sears 18.75 Std. Oil of N.J. 26.37% Texas Gulf 23.75 Texas Co. 44.12ft Wx Corporation 144.50 Worfwwth 45.75 Westingnouse E U.S. Steel Gen. Tel Elec 93.50 29 322JB off 4-91 95.62tt 10 Base Met 10HS2 Off .07 20.37ft 15 W. Oils 213.90 Up 191 33.12'A Volume AVKRAMS 34.25 20 Ind B70.1J up JU 29.87V4 20 Rails 155.95 up .H 2B.I7K 15 Utilities 100.11 up TORONTO AVERAGES AS 24141 up' .4 20 Ind 206.68 up .95 Dollar Value 546 a year earlier. Chrysler Canada Ltd. reports Hog prices EDMONTON (CP) _ Aver- age prices to 11 a jn. today pro- vided by the Alberta Hog Pro- ducsrs Marketing Board. Edmonton: 50.00. Average Friday 49.89. Red Deer: 49.05. Average Friday 49.80. Calgary: 48.55. Average Fri- day 48.88. MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was un- changed at 37-50. Pound Sterling up 33-50 at In New York, the Canadian dollar was unchanged at 13-50. Pound sterling up 13-20 at 3-20. Letbbridge: N i 1. Average Friday 47.85. car sates in June rose to j Total boss sold to 11 a.m. l.- 009. Total hogs sold aver- 1 age 49.73. Price of sows 36.60. 0. N. ANDERSON AGENCIES LTD. HAVE MOVED to 415 3rd Avenue S (SCHWARTZ BLDG.) REAL ESTATE GfNBtAL INSURANCE 327-1657 rom and truck sales to from. in June, 1972. Car sates for the first half total- led compared with 275, and track sates com- pared with a year ago. American Motors Canada Ltd. reports the highest June car sales in eight years, com- pared with in June, 1972. For the first half, passenger car ihfes rose 48.4 per cent to and Jeep sales to from Volvo Canada Ltd. said first- foalf sales were a record up from a year ago. Thermal coal output down EDMONTON (CP) Alberta' produced 341.588 tons of ther- mal coal during May compared with tons the previous month, says an energy resour- ces conservation board report The production of coking coal totalled tons during May, compared with tons in April. CREDIT MANAGSl Leading Lumber Yard rtqvifM an Experienced Credit Manager This position offers a rewarding to the sue- cessful applicant. Moving expenses will paid. Send full NELSON LUMBER COMPANY LTD. 12727 ST. AlBERT THAU EDMONTON, ALBERTA. IT STARTS WEDNESDAY! EATON'S BIG RECORD BREAKING DAYS SALE... VALUES GALORE! Watch tor the Mg 22-page Eaton flier now being delivered to your door... H brings you news of super savings. If yon have not received your Eaton flier by Tuesday evening phone the Uthbndge Messenger Service at 328-2377 and one will be delivered to you. 7 ;