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Lethbridge Herald Newspaper Archives

- Page 25

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Lethbridge Herald, The (Newspaper) - June 13, 1974, Lethbridge, Alberta Thursday, June 13, 1974 THE LETHBRIDGE HERALD 25 The Herald- Business Stocks M is cella neous Vancouver, Calgary, Montreal MUM W) i IMIII- i) WESTtRN AND 3 Al on 550 Albjny i Foods J-" Altd Edit Gdb Aim eld Mm 1 01 Weston A Pld 52 00 te Yukon 712; Ashland STOCKS BP GdS Trk A 1337 Bronda Gas Trk Pld 5500 Cda Nat GdS 178o? Can Ex Metro 600 Cdn Metro A P'd 54 00 Cdn Ind GdS Nat Gas 862 Cdn Long Is Cdn Super Ch eftdri Dev Dome Pete Dynasty Fort 41 50 675 2837 7 75 and C Gas 1 25 N dnd C B Pfd 2000 PdCif c GdS Trans 962 Trdns Cda Pipe Trdns Cda A Pfd 5400 T ins Cdd B Pfd 3250 Gl Jilt MdSCOt G br3l dr 15 Cdd War 125 Westcoast Trans 20 37 j Trans War 2 85 Gt Gt Cdn Oil 38 Lochu 1 Oil Lytton M Continental 02 Noble Mines North Cdn 4 Warner 27 VANCOUVER MINES Numac Oil Explorations a Pancdr Pe Norsemmes 1 47 Pan 2 74 Varden 21 P'dce 7 25 r M nes 2 20 Ranger O 04 Scurrv Ram Se 14 d 09 S Iver Standard 2 00 Spooner Total Copper 6 50 INDUSTRIALS Ulster Brewing 4 65 United 87 Industries 06 West 1 70 West Petroleum 33 Pete I4 Acres Explorations 75 Int I Res 60 BC SdQdr C Ptd Block 00 3 FUNDS All Cdn Compound 564 613 Cdn Pac Inv A 3i Cdn Dvidend 587 638 Car mq O Keefe A Cdn Ventures 301 32 c- Co "Tfl s Q oil COA a, 1 -i A I Ii A IP no 1 fS 1 p 12 0- n'. Jr, G 3 AK b Alqnm-i A n I I- I [1 Ir T I 1 (1 I 1r I C r-n (Supplied Richardson of Canadai j- ej i, j M: I rr j) r 11- r If fi I Ir H Jf "rr Vr r rrtfr 1 a j o l 1 i t> 1 1 P t, it 661 i-J ir 1 1n j a vj 1 r r j l 1 f' TSE prices continue lower in light trade I'OKOM'O (CFl Prices on the 101 onto stock market moderateh lower in light mid morning trading The industrial index tell 35 to 194 b! golds )40 to 443 13 base inetaN 28 to 83 74 and western oils 1 50 to 195 29 Volume 11am was 384 000 shades compared with shares at the same time Wednesdav Declines outnumbered ad- vances 104 to 75 with 141 issues unchanged Koval Bank lost to Pac ilic Pete to Toronto Star B 'K to Noranda A 1 1 to and Doiasco 'j to MoKon B gained i to Shell (anada 'i to Imperial Oil 'x to W8 i and Komx orp eight (cnU to si IT Agnno Lagle fell 'H to i Mindamar eight cents to V2 07 Precambnan eight tents to M i4 I nited anso H to M7 k and Siebens 'K to I mted Sisc oe rose i to hernalhn three cents t S2 h4 1-rancana to SH and anada Northwest 's to Banker forecasts good year ahead 21 00 '3'5 900 256 600 A 90 2275 325 900 2025 323 1650 1637 2 id 25 2750 27 00 1537 3825 4437 25 12 11 25 1325 27 30 3' 75 i 13 7 50 5087 2062 2887 13 75 600 4687 2425 2850 2875 27 12 1600 7 12 132i 1625 232 4 70 975 345 675 1300 173" 2650 51 87 2167 IP SO T 12 1323 6 12 13 00 14 30 8 '2 1 00 10 E REGIINA (CP) Canada appears to be headed for another vear of substantial growth with an eventual easing of interest rates and abatement in the rate of inflation the chief spokes- man for the banking industrv said todav J A Bovle president of the Canadian Bankers told the annual meeting that Canada s rate of inflation is probabh at its peak now and throughout the remainder of 1974 and 1975 there is everv likelihood of gradual improvement The economy will probabh not grow as rapidh as it has over the past 18 months though it is rm view that given some relaxation in monetarv pohcv throughout the fall and winter months Canadian economic activitv will probabh pick up again as 197-3 unfolds Mr Bovle executive v.ce president and chief general manager of Toronto Dominion BanK said interest rates during the next 18 months can be expected to average lower than in 1974 reflecting shghtlv easier monetarv pohcv some abatement in credit demands and some improvement in the rate of inflation Mr Bovle repeated the banking industrv s concern on two inroads of foreign banking interests in Canada and the move to allow provincial governments to own shares of existing or new banks He said that more than 100 foreign banks or bank like in- stitutions now operate in Can- ada carrying out functions noimallv regarded as banking What is a prime concern is that these foreign banking en titles are operating in Canada under virtually no federal con- trol Thev are not required even to acquire a licence from the federal government which is ultimately responsible for the soundness of the financial svstem This situation was potentially unstable and introduced a disturbing element in the operation of monetarv pohcv and could create unsettling influences in Canadian financial markets believe the whole issue should be thoroughlv in- vestigated in Canada and action taken in the near future Mr Bovle said changes to permit provincial government ownership in banks would con- travene the basic principle of Confederation that banking is stnctlv a matter of federal jurisdiction He called for reconsideration of the proposal and its implications Chemical DES detected in liver of beef animal -VSHINGTON (APi The I S agriculture department it has detected traces of the chemical DES in a beef animal liver the first appearance of the controversial growth hormone since a federal appeals court overturned a ban on the chemical last Januarv btat.sticallv minor it involved one liver among 1 049 tested this the reappearance of DES c onies as the government is courting (anada to reopen its import door to t" S beef (anada barred entrv o) I S beef and live tattle two months ago unless could tertih those Hems had never been exposed to DKS growth hormone which has aused cancer in laboratorv test animals The crackdown bv Canada meant closing a market worlh S100 million a vear to b S beef producers at a time L S cattle prices sagged precipitouslv from peaks six months ago Officials said the DES in an animal shipped from Nebraska was the first detected since last December In all of 1971 officials said onlv lh contaminated Itvers vvei e found among 3 922 tested Canada has not announced modification in its anti- DES order barring imports L S officials here sav pnvatelv some progress is being made and that a compromise soon might be worked out The Canadian situation will be on the agenda next Mondav at a special White House meeting called to examine the current profit crunch on livestock producers n P wr- i ?l in 2E-s o 25 -j 14 J.., A tri nice1 fi L r r'r i? i Aur> .5 l- I IT- I IM I cf f I t S t r 1 i? nn j -N t II r r no 11 Market to carry for corn Million dollar trader James G McCormick, 27-year-old bachelor, is busy on the phone invest- ing millions of dollars each day for the Conti- nental Bank of Chicago The newly appointed second vice president makes decisions each day that mean thousands of dollars of profits or loss as he shifts assets of between million and million Oil export licenses approved Herald Ottawa Bureau OTTAWA The Energv Board has approved li- censes for export of 781 761 barrels per dav of domestic crude oil and equivalents during the month of Julv The export volume is down slightlv from the 804768 barrels per dav allowed this month continuing a decline in oil exports to the L) S that started last vear vear ago the NEB allowed 1 1 million barrels per dav of domestic crude to be exported The NEB also revealed Wednesdav that Canadian pro- duction of crude oil for the month of Juh will average 1 972 000 barrels per dav This means that almost 1 2- million barrels per dav are being reserved for domestic requirements Wholesale prices in U.S. rise ASHINGTON i APi De spite falling farm and food prices widespread increases on a broad range of industrial products pushed wholesale prices up sharplv again in the tnited States government said The labor department re- ported that wholesale prices rose a seasonallv -adjusted 1 3 per cent last month about the vame as the rates in March and April but not as much as in the December-Februarv period I nadjuMed the increase last month was 1 5 per cent Prices for farm products processed foods and feeds fell 2 2 per cent in the third consecutive monthh decline Industrial commodities v ore up 2 7 per cent I .S. natural MOMHI I I'tiits UMI inixul in lit-ln u n1 iv 11 thi Mimttc il Stm k 1 M h t id it 11 i in w i1- 1 W 9110'-luri'. iiimpniil viith .11 HO" it tin '-aim I nm Ui dm iv I'lpu1- li II HH t U) A inilu-tiiaN J4 to Oi HI mil Un i nip isitt 07 to I'lli vvhik utilit cs i IM 41 In H2 7i mil I) ink-. U i -TH Bmk in i Inn Xili mil till i >o SIH jn nil in i llu! 11 i to S) ami i ii-. Ill in il Hitliu st In ivvhik Hnti-.li lumfoi i I i lot I n iluits nisi. i to mil 1' I 1 I t >M4 i in inf. s pi i ul it iv i t s s u i--- Ivvintiith (intniv I xpli i itiun-- lost HI 11 iitv to si 11 ilti tr iilmf, OiO in V H I mis win up in hi iv v tndini. on the mi ouvii St 11 k I h inn nluint it tin (losi vv is 110 sh iris In thi inilustii ils irnjt was jt s4'l> on j shuts droiisi Mount nn vv is u[ IW to on I'm vv is up 01 it on t shins mini v is down ont unt at 40 on 2 1 iro Mil i urn vv is iimhuiLu! it 12 mil Vvvtinrk vv is- down 0) to M Chicago markets UK K insas it is i in in rip mil finding sunn niu M im disn is ilut might cut md lu'uiis gnnid sh nph n tin Bi IK' "1 11 fului's win J i mind lints i buslul it im tun butdosid unts hishii On tin sinnfith in uhi it lipwexii nlliii f i nmndiiiis on tin flu >r f. unid in pmi Scnbians mt ri istd H unts nn 4 mdoits4 i Sinhi ir niililusid mi in irrii.nl ir turn bu s ml is up Kid points tin in lit lor oni sissum in n' i_bl op'iors not disi isi ippi it id in Kansis whi.it 'be issoiiiti nru rti d mil it u is i i t ik i n 11 sh ins H -.1 1 iss is up i ni unt it (II ind I muss in i li in i n Ii vv is ini h it 2( ti v fill nn i t 1 Si ij.1 m I t t I MIKIs Hit. sink bin Mir l s4 ill il kit iinikul Unit tinliv it tin I itus i I s Livestock Calgary I' Kiuipl t i n Hun MI It MI tin It. ii i' ibln i ii I t t illr ur m_i 1 ii M nni i h I i H inn M ntu 1 1 nmidi i ill r i run i 11 nm nl i IHnin k ki IPI i 1 i mi i ini C.i -m IP n i k f- M I ip in M Mi Mi pi- Sp nn KM l "1 Svvitzi I in I t mi I mti d si n I h i i I mini ni n i li" i s s 11 ill On 1 itmr- in n i li i un I Gold futures r n I S luniK i m I h mu i si 11 4IMI ounu lontr.u I'- ll T 1 irf Hli O( t i'- ill "I I" 1 loii v 1 i nit K lull ount i nntr u Is t it IHI v it" l T ,1 V I "-I I J I InJ-IlK l 1 I x i It i r is Metals Dollar value v ir n m idi in Iiiniis ii'i rtoli u is d us i i.i il 12-> I "und sti rlmL w is donn S7 it 1 in N. h- in i ll in ii >'I ir u is r IIKI i s] HI jo I'.unii I 111 L i V2 1 f C oppir Fin I i id 1003 4th Avenue South, Lethbridge Telephone 328-4426 p rocessng Services H On1 iH'i Tin Tt w ill he i orn fulurc1- 1 "ti 1hc mnmo'iiU Lxrhancc bclnrr IT ihr jnri 1 red Dealt rs u is (ii nnfi nm K V, MuMillan chairman ol 1ln ri.jnfjf hoard 'i' i o-v i rnor- made 1hc FIRST FLIGHT IN Kl ROPE Thr firsl airplane llighl was made in 5WW M Dnmnn! a Hra7ilian al Pans to about UK mh( rs ol Hie chairman D Th'impsf n 1hc members OnLsri'1- dealers hrcn relalmp Canadian com 11 1 n o Chifajio nmmodilics bul hi iinse corn production has <-o dramalirallv in 1hr Ias1 live now can 1o 1ht in Mr Thompson said Winnipeg Exchange prices will he similar 1o prices on the 1-Achdtige but will more 1o an.adi.an produrlion problenis i Tht 1 ederal Power ommission said Wednesdav thai the natural gas shortage in Ihc 1 nileii stales has worsened dunnp 1hc last and will h< i i-rmf a msjs m 1be Inr ommissim chairman lohn vaid thai in coming nionlhs natural cas supplies will fall nearh 10 per rent demand He vsid 1ha1 shorlace is ihe eqiiualen! of itxnil million barrels ol oil s riirx William P Tavoularea president ol Mobil Oil Corp 1es1i1ies belore a Senate loreiqn relaiioris subcommillee m Wash- inglon The panel is hear- ing leslimony on propos ed legislation 1hal would give 1ne United Stales velo aulhonly over mul1i- nalional petroleum com- panies oil price aqree- ments wilh foreign coun- tries DUNLOP FORD Salesman of the Month FORD 1510 Mayor Msgrath Phone 328-S ;