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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 27, 1973, Lethbridge, Alberta 1S THE KTHBRIDGE HERAID Fridoy, July 27, 1973 Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCuaig Limited) LAST BID OR SALE (11 a.m. Quotes) (11 Quotes) (11 a.m. Quotes) WESTERN OILS AND MINES Albany Oils Alta East Gas Almlnex Asamera Ashland BP Can Brenda wines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn super Charter Oils Chie'tan Dome Pete Dynasty Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochlel Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Tan Ocean Petrol Pinnacle Place Ga; Ponder Ranger Scurry Rain Seibens Spooner Total Pete Ulster Pete West Pete W. Oecalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestbrook Ind Crowsnest Ind Cygnus A Cygnus B 1.18 Falcon 8.25 F and M Trust 6.9S Genstar 11.62V2 Global Comm 13.62V2 Home A 17.00 Home B 7.70 Hud Bay Co .4.90 Hud Bay Oil 3.70 Hud Bay A Pfd 7.85 Hugh Russell Husky Oil 7.75 Western Warner 7 75 VANCOUVER IS 31Vt MINES 625 Afton 16.12V2 Atlas Explor 44.50 Bath Norse Croyden Dankoe Davenport Dolly Varden Equitocial Res Gibraltar 47.25 44.00 17.75 46.75 51.00 47.50 Husky B Pfd Husky D War Husky E War Hys of Canada Inter Prov Pipe Inter Prov Steel 13.75 345 29.50 .20 55.00 4.00 13.00 36.00 10 25 .29 Kaiser Res 3.65 Loblaw C Pfd Maonasonics 31.00 Pacific Pete 8.00 PW Air 2 75 Pe-Ben O'lJield 2.04 Rainier Inc 1.21 Royal Trust 7.50 Commerce 1850 Sandwell 14.25 Teledyne West Cdn Seed 1.34 Westfield Min Weston A Pfd .72 White Yukon 24 Lornox Primer Pyramid silver Standard Valley Copper .47 .84 .04 1.94 .40'A .28 .18 15.00 13.25 8.75 1025 4.25 9.60 INDUSTRIALS 24.25 3.80 4.00 435 5.00 1.50 6200 11.50 1.17 9.90 Columbia Brew 2.75 Key Indust .34 Wardalr 2.00 OILS Prp Explor 1.28 plains Pete Ponderay Explor .94 Stampede Intl Res 1.33 MUTUAL FUNDS All Cdn Com 7.24 7.67 All Cdn Divid All Cdn Vent Amr Gf F AGF Special '.41 PIPE LINE STOCKS 32 Alta Gas A 17.75 Alta Gas Pfd 1450 Alta Nat Gas .47 Inland Nat Gas 7.40 N and C Gas 1.02 N and C B Pfd 6 Pacific Trans 5.75 Gaz Metro Gaz Metro A Trans Can Pipe 12.7S Tr Can A Pfd 22.50 Tr Can 8 Pfd 15.00 Tr Can War 2.75 WC Trans 25.25 WC Trans War 29.12'A CALGARY 29.25 Acroll Barons Oils 29.50 N Continental 13.50 7.75 8.42 3.79 4.12 5.55 6.09 2.84 5.16 566 5.96 6.54 15.19 16.69 3.99 4.38 7.63 8.38 6.30 6.92 Cdn Invest Col Mutual Cmnw Inter Cmnw Lev Cmnw Vent 71.37% corp Invest 19.25 corp in St F 5.15 5.65 Dreyfus F U.S. 11.37 12.46 10.00 Gr In Shares 3.54 3.89 22.37% Gr Equity 7.79 8.56 11-75 invest Gr F 11.02 12.11 Invest Mutual 5-94 6.52 45.00 Mutual Ac 34 37% Mutual Gr F 63.00 Nat Res 3950 NW Cdn 7.25 NW Gr 18.12% Principal Gr 3.75 Royfund Temp Gr .70 united Ac .02V2 Universal Sav .02 Vanguard 6.10 3.73 4.10 8.38 9.21 S.67 6.23 5.03 S.5S 4.7S 5.02 7.09 8.72 9.53 5.32 5.85 7.99 8.67 7.40 Toronto industrials (Supplied By Richardson Secmitlet of Canada) LAST BID OR SALE (11 a.m. Quotes) (11 a.m. Quotes) (11 a.m. Quotes) MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. N W Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falcon br Frobex First Maritimes Giant Y.K. Granduc Hollinger Hudson Bay M-S Hydra Ex. Iron Bay Iso Jollef Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Meta Midrim Intern- Mogul Nu West Homes New Athena New Calumet Noranda Normgate Norlex Osisko Pine Point Placer Dev. .13 Pax Exp. 1.20 Quebec Mar 1.12 Rayrock 2.30 Radiore .44 Rio Algom 16.37Vi Roman Corp. 2.20 Sherritt Gordon Steep Rock Tek Corp. Texmont Upper Canada Western Mines W H Cop Mines Wright Hargreaves 1.00 Willroy 1.13 Windfall .17 Yellowknife Bear 3 85 Zenmac .12 INDUSTRIALS 570 8.40 2.26 10.75 1.12 1.20 5.75 4.30 .16 1.05 7.95 3.65 Abitibi .05 Alcan .49 94.50 1.30 4.35 2.90 79.75 .26 .72 9.50 3.90 46.50 .14 1.42 .43 30.00 9.50 13.00 1.64 4.20 .29 2.96 3.15 3.60 Algoms Steel Atco Ind Atlantic Sugar Agra Ind Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Val Ind 28.25 Cable .31% CAE Ind 3.75 Cdn Brew 2.20 Chemeell .23 Col Cell 13.25 Calgary Power .37% Coron Credit 44.00 C.W.N. Gas Pfd 3.05 Cdn Ind .05% Cdn Marconi 1.28 Cdn vickers 1.01 Chrysler .33 C.P.R. 57.00 Cominco .16 Cons Bath .16 Cons Gas 14.25 Dist Seagrams 8.50 Dom Bridge .12 Domtar .25 Dom Textile 55.37% Dom Stores Dome Pete Dofasco 36.50 Glendala 29 Grt Cdn Oil 2.70 Gen Motors Grt Lakes Pp Gulf Oil Cda Greyhound Hawker Sid Hiram Walker HUT Erie Imp Oil Irrsssca Int Nickel Int Pipe Inv Grp A Int Ufil Ind Accept (Ops Kelly Doug A Laurentide .Loeb Loblaw A 12.12Vi Met Stores 32.12Vi Massey Ferg 18.75 McMillan 11.75 Moore Corp 6.62V2 Moisons A Moisons B Nachurs North Cent Power Corp 15.87% Price Co. 18.25 Rothmans St. Law Corp Shell CDA Simpson's Simp Sears Steel of Selkirk A Texaco Traders Grp A 1.80 Trans Mm Pp Trans Cda Pp 14 62% Union Carb 3.35 Union Gas Union Oil 26.50 United 1800 Versatile Mfg 34.50 Westeel 23.87V3 Weston's B Woodward's A 40.75 West Cdn Seed 37.12'A Zenith Elec 19.00 35.75 16.50 10.25 4.30 4.40 5.50 22.75 825 14.25 35.75 27.25 J.25 BANKS Cdn Imp Montreal Nova Scotia Royal Tor-Dom 8.00 68.50 22 JO 35.87V2 4.50 55 JO 29.00 41.50 29.25 32.00 24.37Vi 9.50 17.50 6.50 5.6216 11.50 4.85 17.25 30.87V6 52.00 24.00 7.50 10.00 11.75 15.12% 12.00 20.12V4 20.50 9.37V4 32.50 15.25 66.50 18.37V2 33.00 15.50 10.37% 16.75 4.75 21.00 22.00 5.00 2.40 30.75 18.87% 34.75 35.00 By TERRY ROBARDS New York Times Service NEW YORK Slowly, re- jentlessly and with surprisingly little public acknowledgment, Wall Street has slipped into another serious financial crisis iat is wiping out profits in the securities industry and forcing nvestment firms out of busi- iess. Less than three years after it emerged from its worst period New Yorfe stocks By Ricnarasaa Securities of Cnata) 10U2Vj 20 Golds 298.41 up .24 94.00 10 Base 107.99 up .07 26.87V4 IS W Oils 249.24 off .92 33.50 Volume 20.1TONEW YORK AVERAGES ZI.8TO 30 Indust 933.70 off .82 68.37'A Westinghouse Elec 38.37Vi 20 Rails 166.28 off 1.00 Gen Tel Elec 33.62V4 15 Utilities 101.16 off .03 TORONTO AVERAGES 65 Stocks 282.35 off .54 Amr T and T Anaconda Bern Steel Chrysler Comsat Dupont GM Gulf Int Harvester Kenn Copper _____ Wtontgomery Ward 21.50 20 Indust 220.14 off .54 Volume sears 22JO X-Ron 28.12% Texas Gulf 26.37% Texas Co 52.62% Wickes Corp 172.75 Woolworth THE POLICE DEPARTMENT CITY OF LETHBRIDGE Hereby Offer For Sale By Public Bid THE FOLLOWING UNCLAIMED BICYCLES Serial No. 1. GT Cyclone, bronze, 10 speed 9165 2. Brentwood, green, girls S911B378 3. Hiawatha, red boys El 46 4. Brentwood, mod rod orange boys BS14909 5. Dtelite, red and silver boys S88012 7. Brentwood, mod rod purple boys SOS 157 8. CCM, green boys 3 speed 4140417 9. Raleigh, green 10 speed 297732 10. Simpsons Sears, purple girls C52273 11. Sprinter, gold boys 5011022 12. Majestic, red boys 1016 13. Unknown, small girls sidewalk bike blue 740 14. Simpsons Sears, small sidewalk bike, purple 170 THBti ARE ALSO THE FOLLOWING FKAMES, STRIPPED OR PARTIALLY STRIPPED: 15. CCM, red girls 4222 16. Road King, silver girls HEO45383 17. Brentwood, purple girls S07110 18. CCM, purple boys K538028 19. Scout, fciue boys 10456BS 20. CCM. gold boys 3 speed nil 21. Simpsons Sears, red 10 speed C88265 22. Bottecchia, blue boys nil 23. Simpsons Sears, red 10 speed 27455-2540338 24. Premiwrn, black boys S91872 Trwse bicyckt moy be inspected on the west side of the City Police Siotiem. A bid moy be entered on one bicycle or entire lot on form which moy be obtained the Police Station Complaint Office. Bicycles ore identified by aluminum togs. Bids Close Sunday, July 29th Rigs cover lake Not far from the swaying palm trees along the shores of Lake Maracaibo irt Venezuela, oil rigs pump the black gold from under the lake. Hundreds of rigs cover lake, the centre of Venezuela's oil industry._______ Wall St. slips into crisis Grain prices Winnipeg grain WINNIPEG (CP) were lower in moderate mid- session trade today on the Win- nipeg Commodity Exchange. Flax was again bid up its 20- cent limit in all months except July, which was up 14 cents. Vancouver rapeseed was down its 20 cent limit, while losses in Thunder Bay futures ranged from 19 to U cents. Oats was down about two cects, while barley and rye posted larger declines. Thursday's volume of trade was bushels of flax, of lye and of rapeseed. MID-SESSION PRICES: Flax: July 14 higher 10.25; Oct. 20 higher 9.89B; Nov. 20 higher 9.58B; Dec. 20 higher 9.44B. Rapeseed Vancouver: Sept. 20 lower 7.79A; Jan. 20 lower 7.08; Jan. 20 tower 7.10A. Rapeseed Thunder Bay: July 15 lower 7.41A; Oct. 14 lower 7.11A; Nov. 19 lower 6.93A; Dec. 11 lower 6.62A. Oats: July 2V4 lower 1.69A; Oct. 2% lower 1.687sA; Dec. 2 tower 1.65V4.B. Barky: Jury 5% lower 2.46A; Oct. 8 lower Dec. 6 tower 2.43. Rye: July 10 tower 2.65; Oct. 7% tower Dec. 6% lower 2.73A. Grain quotes Thursday (basis High Low Close Flax Jly 10.11 Oct %9 Nov 338 Dec -924 Rapeseed Vancouver Sep 839 799 799 Nov 792 732 752 Jan 768 728 728 Mar 770 730 730 Rapeseed Thunder Bay since the depression, the indus- try once more finds itself with falling revenues, mounting def- icits and little hope for imme- diate relief. So far, the latest crisis has not caused any major firms to topple into bankruptcy. But few knowledgeable people in Wall Street doubt some fright- ening failures will occur in the coming months if the stock market remains dull and leth- argic. SQUEEZE James J. Needham, chair- man of the New York Stock Ex- change, described the current affliction as "an enormous profit squeeze" and suggested recently that the capital drain- age under way in toe industry might soon force it to begin curtailing services to investors. James W. Davant, a director of the exchange and chairman Paine, Webber, Jackson and Curtis, Inc., a leading broker- age bouse, said: "I think the situation is serious. This really is the toughest period I've seen in 26 years in this business." Almost everyone agrees that the central problem has been declining revenues in the face of sharply rising costs. Wall Street has been no less im- mune to inflation than most other parts of the economy, Jly 787 Oct 767 Nov Dec Oav> Jly 172 Oct 172'i Dec 169% Barley Jly Oct Dec Rye Jly 284 Oct 289 Dec 292 756 727 163 166 167', i 249 247% 275 277 756 727 712 673 171 V4 171 250% 249 275 277 2793k Yet, its revenues have been falling, producing a classic squeeze. Profits have been dis- appearing. Wall Street's current plight is rendered even more precarious by the onset of the summer doldrums, a period usually characterized by reduced trad- ing volume in the securities markets and lower revenues for investment houses. The hard facts that describe the situation paint a gloomy picture. Consider the following: While almost every otber sector of the economy is boom- ing, the member firms of the stock exchange in the aggre- gate nave not experienced a profitable month so far in 1973. The exchange's members incurred total losses of million in this year's first half, including an estimated million in the second quarter. In May, tbs latest month for which exact figures are available, 57 per cent of the exchange's member firms op- erated in the red. The number of big board firms at midyear totalled 543, the fewest since 540 at the end of 1943, during World War H. The number of employees in the exchange community is believed to have fallen by ooo to so far this year, although no firm estimate is available. If losses continue at the rate experienced in this year's first half, the securities indus- try's cumulative deficit in the next four years will surpass its total present capital of billion. The common stock of all 16 publicly owned investment firms in the industry are sell- nig at less than the asset val- ues of the firms themselves, ef- fectively closing the door to any further public financing tor securities concerns for the present. Other developments, less easily quantified, toom just as importantly. For example, nc one knows how many talented people have been lost to other industries, not to mention how many capable people will nev- er even consider working in WaU Street. Gold futureg WINNIPEG (CP) Gold futures, U.S. funds, Winnipeg Commodity Exchange: Jly 73 119.00B Oct 73 122.00; Jan 73 125.90B; Apr 74 130.50A; Jly 74 134.25A. Wednesday's volume: 63 con- tracts. Toronto stocks fairly active TORONTO (CP) Prices on the Toronto stock market moved fractionally lower in :airly active mid-morning trad- ing today. The industrial index, consid- ered the major indicator of market trend, fell .08 to 220.60 and western oils .45 to 249.73. rose .01 to 296.18 and >ase metals .52 to 108.24. Volume by 11 was 100 shares compared with 000 at the same time Thursday. Advances led declines 131 to 104 with 163 issues unchanged. General manufacturing, real estate, chemical and paper and 'orest stocks were among gain- rig market sectors while con- struction and material, indus- trial mining, oil refining and pipeline issues were lower. Trading was halted at the opening in Security Capital B shares, pending a release of in- formation. TransCanada Pipelines fell to Wiley Oilfield to Mean to Bow Valley to and Imperial OU to Falconbridge Nickel rose 1% to Cominco to Consumers Distributing to Anglo-Canadian to and Husky to Gibraltar gained Vt to Cassiar Vt to and Rio Algom to Hudson Bay Mining lost to and Bankeno 15 cents to Ranger slipped to and Asamera to Total Pete was up 20 cents to MONTREAL (CP) Prices were mixed in light trading on the Montreal stock market Fri- day. Combined volume on the Mon- treal and Canadian stock ex- chonges at 11 a.m. was shares, compared with shares at the same time Thurs- day. Banks advanced .65 to 267.13 and papers .18 to 127.22 while utilities dropped .19 to 148.59, industrials .05 to 248.13 and the composite .02 to 230.67. On the Montreal Stock Ex- change, Hollinger Mines gained 1 to Cominco to and Southam Press to while Canadian Javelin declined to and International Nickel to On the Canadian Stock Ex- change, Cuvier Mines gained 29 cents to on shares traded. NEW YORK (AP) Stock market prices backtracked slightly today as investort nailed down profits after the market's nine-session really. Analysts said the decision of some major banks to boost their .prime lending rate by to 8% per cent also prompted selling. Among Canadian issues on the New York exchange, Dome Mines fell one to Inco to and Canadian Javelin Vt to Canadian Pacific advanced Vt to Gold prices LONDON Today's closing gold prices in U.S. dol- lars an ounce: Znrich-117.50 Hong a kilo Now In Stock for You A selection of: HOLIDAIRE Trailers TRIPLE E-E-E Trailers TRIPLE E-E-E Campers TRAVE-L-MATE Campers for every imported truck 2 USED CAMPERS AND 1 USED TRAILER AVAILABLE Foreign Car (Lethbridge) Ltd. 1102 3rd Avc.S. Phont 328-9651 Hog prices EDMONTON (CP) Aver- age prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board. Edmonton: 59.10, average Thursday 5S.70. Red Deer. Nfl, average Thursday 58.71. Calgary: 59.10. Lethbridge: Nil, average Thursday 59.26. LETHBRIDGE RESIDENTS! DIRECTORY ASSISTANCE REPAIR SERVICE PHONE NUMBERS CHANGE SUNDAY JULY 29 DIRECTORY ASSISTANCE PHONE NUMBER CHANGES FROM to 411 REPAIR SERVICE PHONE NUMBER CHANGES FROM to 611 ALBERTA GOVERNMENT TELEPHONES ;