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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 13, 1973, Lethbridge, Alberta 24 THE IETHBRIDGE HERAID Friday, July 13, 1973- Base metal stock r eaches high TOROlSiTO (CP) The To- ronto stock market's base metal index set a new high, but other sectors were lower in moderate mid-morning trading today. The base metal index rose .68 to 107.54. The industrial index, considered the major indicator of market trend, fell .90 to 212.70, golds .70 to 304.56 and western oils .07 to 225.31. Volume by 11 a.m. was 000 shares compared with 000 at the same time Thursday. Declines outnumbered ad- vances 104 to 86, with 159 issues unchanged. Industrial mining, bank, mer- chandising and 'oil refining is- sues were among sectors of the market recording declines while beverage., general manufac- turing, construction and mate- rial and real estate stocks were higher. Banister fell 1 to White Pass and Yukon to Chrysler to Inco to and Texasgulf to Walker-Gooderham rose to Na-Churs to S6Ts Com- inco to Consolidated Bathurst to S23% and Block Brothers five cents to Placer gained to Tara to and Agnico-Eagle 15 cents to Kerr Add-on slipped Vt to and Dicken- son 15 cents to Pennant-Puma fell 30 cents to while Canadian Home- stead was up five cents to MONTREAL (CP) All sec- tors declined in light trading on the Montreal stock market Fri- day. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, compared with shares at the same time Thurs- day. Banks dropped 2.13 to 258.38, the composite .71 to 222.17, in- dustrials .58 to 237.73. utilities .47 to 146.64 and papers .05 to 118.66. On the Montreal Stock Ex- change, Chrysler fell to Royal Bank to In- ternational Nickel to Magnasonic Canada to and Pacific Petroleums to On the Canadian Stock Ex- change, Dominion Leaseholds gained one cent to five cents on shares traded. NEW YORK (AP) Stock market prices were broadly lower in slow trading today, in- dicating what analysts said was the indecision of the investor caused by President Nixon's ill- ness and economic uncer- tainties. The Dow Jones average of 30 industrials was down 5.87 at 896.07. Declining issues on the New York Stock Exchange had a 671-to-406 lead over advanoss. Among Canadians on the New York Stock Exchange, Mclntyre was up 1% to Canadian Pa- cific up VB to and Walker up to Inter- national Nickel dropped to and Seagrams to On the American Exchange, Canadian Javelin was up to and Quebecor and Scurry Rainbow both up Quebecor to and Scurry to Government wants fair grain policy OTTAWA (CP) The gov- ernment wants a feed-grain marketing policy that is per- fectly fair to all regions, says Justice Minister Otto Lang but he gave no details when ques- tioned in tbe Commons. John Diefenbaker (PC- Prince Albert) said there is a stream of rumors flowing through the West that the gov- ernment plans to put feed grains on the open market He asked assurance from Mr. Lang, the minister responsible for the Canadian wheat board, that feed grain will not be taken from the board's jurisdiction. Mr. Lang said the rumors did not come from government; they came from press reports that did not fairly or adequately reflect government policy. Earlier Prime Minister Trudeau told Alf Cleave that the matter will be discussed at the western economic confer- ence in Calgary later this month. The federal government Gold futures WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg Commodity Exchange close Thursday. Jly 73 122.00; Oct 73 M6.60B; Jan 74 130.25B; Apr 74 133.60B; Jly 74 137.10B. Wednesday's volume: 97 con- tracts. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Friday was up 1- 50 at 43-50. Pound sterling down 11-100 at 89-100. In New York, tin Canadian dollar was down 1-50 at 7- 10. Pound sterling down 3-20 at SAND GRAVEL ASPHALT TOLLESTRUP SAND AND GRAVEL Construction Co. ltd. PHONE 32S-2702 327-3610 A would continue to consult the provinces and concerned organ- izations on the subject. Mr. Lang told Mr. Diefenba- ker that everyone attaches a good deal of importance to the role of the wheat'board in an orderly marketing policy. He was confident that a mar- keting policy can be established that is fair to all regions, in- cluding the producing regions. The minister's answer cWy adds to the uncertainty, said Mr. Diefenbaker. Mr. Lang said western farm- ers realize the government has taken action to improve tbe grain situation "like we've never seen it before, and that action is going to continue." Livestock Calgary livestock CALGARY (CP) Receipts to 11 a.m. from the Calgary public stockyards showed sales of 275 head, mostly replace- ment steers. Trade was active. There were insufficient slaughter steers or heifers on offer to establish a market. The few cows on offer were sold steady with sales to 34.70. Bulls were fully steady with sales to 41.80. Cows, Dl, D2: 33-34.20. D3: 31-32-75. 29-30.50. Bulls, good: 38-41. Replacement cattle were mostly fleshy shortkeep steers reigning 800 to 950 pounds, sell- ing at steady prices. There were insufficient good stock calves on offer to es- tablish quotations. Good feeder steers 566 to 750 pounds: 47-54. More than 750 pounds: 44-48.20. Good feeder heifers more than 600 pounds: 4044. Hogs F.O.B. Calgary average base price: S2.T5. Montana fanners boost output HELENA. Mont. (AP) Cur- rent field conditions in Mon- tana indicate the state's grain farmers can expect sharp in- creases in this year's wheat and barley production. The crop and h'vestock reporting service forecasts a 14-per-cent increase in wheat production over last year and a 19-per- cent increase in barley. Paisport Photos Candid Wtddingi framing PKeto iuppti A. L CROSS STUDIO 31J-0111 S 328-0723 Canadian businessmen slow in tapping Japanese market OTTAWA (CP) Canadian businessmen have been dis- appointingly slow in exploiting a booming Japanese market generated by a dramatic shift in trade policy, say economists and trade officials here. And, until Canadian business attitudes catch up with the times, they say, this country's limited role will continue to be mainly as a supplier of raw ma- terials for the voracious Japa- nese industrial' machine. A sign of that appetite is the fact that world-wide demand for raw materials in recent months, driving up prices owes more to Japanese buyers than any other market. Such sales may sustain Cana- dian export growth without tap- ping a lucrative demand for manufactured creat- ing the jobs that manufacturing makes, sources here say. Canada for years has wanted to change its trading pattern with Japan, to move away from strictly raw materials to more Miscellaneous quotations f Vancouver, Calgary, Montreal (Supplied by Donerty. McCaaig Limited) LAST BID OR SALE (11 a.m. Quotes) {11 a.m. Quotes) (11 a m. Quotes) WESTSRN OILS AND MINES Albany Oils Alia East Gas Alminex Asamera Ashland Oil Gas BP Canada Brenda Mines Can South Cdn Export Cdn Homestead Cdn Ind Gas Oil Cdn Superior Charter Oils Chieftan Dome Dynasty T Fort t Giant Mascot f Granisle i Great Plains Grt Cdn Oil Lochiel Explor Lytton Mineral Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Oil Scurry Rainbow Seibens Spooner Texas Gulf Total Pete Ulster Pete Westcoast Pete West Decalfa 1.U 7.25 6.40 9.15" 12.371A 15.50 7.55 3.15 6.50 7.75 50.75 3.90 9.75 31.50 9.20 .30 T90 11.00 29.00 8.50 2.10 2.17 1.30 8.05 16.25 14.25 12.75 1.16 .23 .60 .40 30.75 16.75 14.00 .45 22.75 6.85 .95 6.37% 5.20 Crowsnest In Cygnus A Cygnus B Falcon Copper F and M, Trust Genstar Global Comm Home Oil A Home Oil B Hud Bay Co Hud Bay Oil Hud Bay A Hugh Russell C Husky Oil Husky Oil B Husky Oil D Husky Oil E Hys of Cdn Inter, Prov Pipe Inter Prov S P Kaiser Loblaw 2.40 C Magnasonic? Pacific Pete Pac West Air Pe-Ben Oilfield Rainier Inc Royal Trust Com Capital Sandwell Teledyne West Cdn Seed Westfield Win Weston 4Vi A White Yukon 31.09 7.75 7.75 13.87% 6.50 15.50 41.00 43.62V4 2J.25 17.8714 44.25 48.00 43.00 22.62'A 7.90 9.00 4.25 9.10 13.75 2.90 29.00 2B.OO 9.42% 8.00 5.60 72.75 3.40 4.35 4.25 5.00 1.11 60.00 11.50 MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pac inv Crestbrook For 12.75 22.50 IS.lZtt 2.60 24.50 29.00 28.00 8.25 PIPE LINE STOCKS Alta Gas A 12.25 Alta Gas 71.25 Alta Nat Gas 19.50 Inland Nat Gas 10.37% N and C Gas 10.00 North Cen B 22.12% Pacific Gas 11.75 Gaz Metro 4.45 Gaz Metro A 64.50 TransCan Pipe 32.25 TrnCan A 59.62'A TransCan B 39.00 TransCan War 6.90 West Trans 17.75 West Trans War 3.45 MUTUAL FUNDS All Cdn Com 7.01 7.67 All Cdn DIvId 7.50 8.15 All Cdn Vent 3.57 3.88 Amr Gr F 5.29 5.80 AGF Special 2.58 Cdn Invest F 5.08 S.5S Col Mutual 5.47 4.01 Cmnw Inter 14.81 16.27 Cmnw Lev 3.77 4.14 Cmnw Vent 7.23 7.95 Corp Invest 6.11 6.70 Corp In St F 4.97 5.42 Dreyfus F U.S. 10.98 12.03 Great Pacific 4.58 5.00 Gr In Shares 3.42 3.76 Gr Equity 7.55 8.29 Invest Gr F 12.3313.49 Invest Mutual 5.85 6.39 Mutual Ac 5.95 6M Mutual Gr F 3.44 3.81 N W Cdn 5.47 6.01 N W Gr 4.80 5.27 Principal Gr 4.24 4.S5 Royfund 6.60 6.87 Temp Gr 8.70 9.S1 United Ac S.02 5.52 Universal Sav 7.64 8.40 Vanguard 6.31 6.92 CALGARY Aero! I .50 Barons Oils .04 Western Warner .35 VANCOUVER MINES Afton 9.75 Atlas Explor .46% Bath Norse .92 Dankoe 1.90 Davenport .44 Dolly Varden .33 Equitorial Res .24 Lornex 12.50 Primer .11 Pyramid .13 Silver Standard 1.22 Valley Copper 10JO INDUSTRIALS Col Brew Key indust Wardair OILS Prp Explor Plains Pete Ponderay Explor 2.75 .30 2.05 1.42 .20 .96 Stampede Intl Res 1.40 Toronto mines, industrials (SvppBed By Richardson Securities of LAST BID OR SALE (11 a.m. Quotes) (11 a.m. Quotes) (li a.m. Quotes) MINES Acme Advocate Asb. Akaitcho Aldcna Bralorne Broulan Bethlehem Bovis Brunswick Can. N.W. Land Canada Tung. Cassier Central Pat. Chimo Con west Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Maiartic East Suliivan Falconbridge Frofrex First Marilimes Giant Y.K. GrsniJoc HcJlinger Hudson Bay Hydra Ex. Iron Bay Jollet Kcrr Key Anacon Labrador Short Lansls SHver Maflsen R.I. Maiartic G.F Merlin McNeelr Maclrftyre .11 1.20 1.21 .33 2.35 16.25 2.15 5.00 7.20 1.62 M-S 1.07 1.30 6.05 3.95 I.OB 7.IS 315 35.09 96.09 1.39 JU9 2CO 7509 .J8 55 4625 24.S7VJ Pine Point Placer Oev. Pax Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep Rock Tek Corp. Texmonf Upper Canada Western Mines W H Cop Mines Wright Hargreaves 1.00 Willroy 1.03 Windfall .20 Yellowknife Bear 3.O Zenmac .13 INDUSTRIALS Abilibi Alcan Algoma Steel Alto Ind Allan Sugar Agra ino 31.09 2.75 .13 ,32 28.75 8.25 17.75 1.55 4.29 .23 2.TO 3.30 Midrlm Intern Mooul Nu West Npw Athena NEW Calumet NorarxJa Ncrltx Oilsko J.I 7 1775 .35 050 3.15 i.to 5409 16 16 npTT soo 16 Brai Trac B C. Tel Burns B. C. Forest B. C. Sugar Bow Valley Ind Cable CAE )nd 29.S2V1 1150 4.50 11.59 .41 50 no K.25 17.25 29.1273 1500 10.37% Glen Mo Homes Gt Cdn Oil Sds Gen Motors Gf Lakes Pap Gulf Oil Cda Grey Lines Hawker Sid Hiram Walker Huron and Erie Imperial Oil Imasca Int Nickel Int Pipe Inv Group A Int Utilities Indust Accept Kars Ksily Doug A Laurentide Loeb ARelro Stores Massey Ferq McMillan Sloe Moore Corp Mclsons A Nacnurs North and Cent Pcwrr Corp Price Co Rcthmans St. Law Com COA S t in oson's Sim? Sears Steel of Canada SelVirV. A 9.Z5 8.50 66.75 21.75 36.00 19.12'A 4.35 52.50 24.75 28.25 29.75 24.25 9.00 24.00 17.50 7.12V4 6.00 11.75 4.90 1Z.W 20.25 2900 24.50 24.50 6.50 10.25 li.75 12.75 20.00 19.00 8.75 Col Caloary Coron Crcdil OWN Gas Cdn Indus Cdn Marccmi Cdn V.ckcn 135 575 .77 .23 CPS Cons C'ms Gas D'tt Dom Bridge Oomlsr Dom Dom 1 1109 1400 3.75 15.75 25.75 J1.7S 1600 3600 7.C71-J 13.75 31.6716 26.47Vj Trans Wtn Pit Pit Union Carbide Union Gaj Union Oil United Sucw Versatile wig Wcsletl Western's 9 WoM A Cdn Sd Zenith Elpc 15.75 60.25 '7.50 19.75 32.25 15.00 14.7J 21 2325 500 2 M manufactured goods. The subject no doubt will be one of those discussed at the seventh meeting of the Canada- Japan Ministerial Committee meetings in Tokyo Sept. 4-5. Ex- ternal Affairs Minister Mitchell Sharp will head tte Canadian group. The stakes are high. The Japanese economic potential is awesome. Economists here and in Japan forecast a soaring gross na- tional product total value placed on all the goods and about trillion by 1985. By then, Japan is expected to be importing commodities and goods valued at perhaps bil- lion compared with billion in 1970. Japanese sources here say they expect Canada's slice of that export market to rise by 800 per cent or more by then, a sales volume of perhaps billion compared with 1972 ex- ports to Japan totalling about minion. These trade officials say, In contrast to current Canadian export patterns and counter to the gloomier views of their Ca- nadian counterparts, that manu- factured goods will account for half that total or about bil- lion. Logic for their view exists. INVESTMENT UP Japanese investment is in- creasing steadily in Canada to more than million, in the raw material sector but also in the kind of manufacturing dominated in the past by tbe U.S. Brimming Japanese for- eign exchange coffers have con- tributed to a rapidly-expanding total foreign investment ex- ceeding billion. Pressure by the U.S., Eu- ropean Common Market and other trading partners has forced lowering of traditional Japanese import and in- vestment barriers. Revaluation of international currencies since 1971 has also forced up the value of the Japa- nese yen, making Canadian and other exports there cheaper and therefore more competitive. Industrial machine Japanese investment in Canada, largely confined in the 1960s to raw ma- terials, is growing rapidly and spreading to second- ary industry, hotels, recre- ational facilities and real estate. Photo shows arrival of the Uni- verse Japan, built in Japan in 1969, as it arrives at Gulf Oil refinery at Point Tupper, N.S., with a cargo of crude oil. Shoe firm plans big expansion WINNIPEG (CP) Greb Industries Limited, a Winni- peg shoe manufacturing firm, today announced a million modernization and expansion program. At a joint press conference with Manitoba Industry Minis- ter Leonard Evans, the com- pany's executive vice presi dent Charles E. Greb said the expansion will result in crea- tion of 60 to 75 new jobs dur- ing the first six months of operation, and about 90 new jobs within a year- Mr. Evans said the expan- sion jpuugiciui involves no money from either the provin- cial or federal government, and that his department's in- Jvement was strictly as a consultant. Cdn Imperial AVjnTrfal Nova Sctrtu Tor DOT IB.IJi'j 33 12% New York stocks (Svppfitd By fUrbarawm Srnrtileii of Cmwta) Sea, thieves snatch art T fa) T Chrysler 51 T5 JD x-f'ji ?8 DO Terrs Gu'f ZS.7S TCT.SS O Golds Up II V W 3 ID BSS.C Wei 1D4M off .02 22 75 15 W Oils vp GV M1? GL.' 75 US AVERAGES 25'0 J3 l-iflus.1 olf 7.D7 301V J'i 162 W off 100 Eitc Z97J u utilities 1W 77 of .38 TORONTO AVERAGES IS, STOCKS OH 20 Jrtfua 712.90 off .70 Vrtpmt MARSEILLE, France