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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 18, 1974, Lethbridge, Alberta LETHBRIDGE June West grain crop planting records dramatic decline OTTAWA (CP) Farmers had planted a mere 44 per cent of the Prairie grain crop by the end of May this year, dramatically down from 86 per cent on the same date last year and 84 per cent during the 1968-72 average Statistics Canada reported Monday that grain seeding across the country was less than half finished by the end of May Usually, only about a fiftn of the crops are not in by that date An unusually wet spring in all provinces has caused the delay By crop, progress of seeding thit, vear looked like this Last year s figures in brackets Wheat Manitoba, eight per cent Saskatchewan, 54 per cent (94) Alberta, 84 per cent (97) Barley Manitoba, five per cent Saskatchewan, 34 per cent Alberta, 48 per cent (77) Oats Manitoba, four per cent Saskatchewan, 32 per cent Alberta, 52 per cent (83) Livestock protest reports differ The ASSOCIATED PRESS Some United States cattle feeders say they are refusing to sell their stock to protest low prices But reports conflicted on the effects of the call to hold back livestock from selected markets Spokesmen for some Farmer aid pledged by Whelan GRANDE PRAIRIE (CP) Federal Agriculture Minister Eugene Whelan pledged Monday night that as long as he is in office, farmers are not going back to the days when ''they carried the rest of society around on their backs Mr Whelan said the responsibility for assisting the poor to buy food "is the responsibility of all society Midwestern markets said Monday that cattle and hog supplies were down However, the agriculture department said total slaughter figures indicated no significant holdback by farmers Many industry officials said it will take several more days to determine whether a withholding action, called in the hopes of driving up depressed prices, is really being applied The action is seen as a tem- porary tactic as the livestock industry presses the govern- ment for loan guarantees and reimposition of import quotas to ease an economic situation described by one feedlot operator as "a bloodbath The call to withhold the meat from market came out of a meeting in Nebraska during the weekend in which cattle feeders agreed not to sell steers of pounds or less for less than 40 cents a pound Many cattlemen refused to support the plan, and reports out of Kansas, Montana, Washington, Utah and other states said no such action is being contemplated Mixed grains Manitoba, one per cent Saskatchewan, 28 per cent Alberta, 33 per cent Flax Manitoba, three per cent Saskatchewan, 18 per cent Alberta, 56 per cent (87) Rapeseed Manitoba, three per cent Saskatchewan, 33 per cent Alberta, 44 per cent (78) In Manitoba, where 80 per cent of the six spring-sown oats, barley, flax, mixed grain and rape- in the ground by May 31 last year, only six per cent had been seeded About 66 per cent of the crop was seeded by that date during the five-year 1968-72 average Conditions in Saskatchewan and Alberta were somewhat better Farmers had 47 per cent of the spring crop in by the end of May this year, down from 89 per cent last year and 88 per cent during the five- year average In Alberta, 61 per cent of the crop was in by the end of May, down from 85 per cent last year, which was also the five- year average Crops in excellent condition CALGARY (CP) Ram in eastern Alberta has delayed seeding operations, but in the rest of the province seeding of all grain is virtually complete, the Alberta Wheat Pool said Monday The Pool, in a news release, said crops are in excellent condition, with the height of the wheat crop averaging three inches while in the southern part of the province it stands five inches high Seeding in eastern Alberta should conclude within two or three days, the Pool added Ethylene export permit hearing opens next week OTTAWA The National Energy Board, m the interests of a speedy decision on the Dow Chemical of Canada Ltd application to export 10 billion pounds of ethylene to the U S. between 1977 and 1987, will hold "ex parte" hearings instead of the regula public hearings, starting next week in Ottawa This means that any inter- venors in the ethylene export application will only be able to raise questions and make points about the proposed exports and about the controversial Canadian supply, demand and situation in briefs which must be submitted to the NEB by June 21 Under the terms of an "ex parte' hearing, the three-man panel of the Board hearing the application will question only Dow Chemical, according to R A Stead, secretary of the Board However, the panel might ask questions based on the briefs from intervenors Intervenors in the export application will neither be questioned by the NEB panel (as would happen during a regular public hearing) nor be allowed to question the applicant. Dow, during the hearings which are expected to last two or three days, starting June 25, Mr Stead said He added Monday that Dow likewise will not be permitted to question any of the intervenors The NEB panel likely will ask questions on the production and supply of ethylene in Canada resulting from the Dow proposal to build a world-scale ethylene plant in Alberta, as well as resulting from other major proposals for competing eth- ylene plants in Alberta and Sarnia The Board has identified this as an area of concern not covered Dy previous hearings on the related Dome Petroleum Ltd of Calgary- Cochrin Pipe Line Ltd of Calgary application to build a twin pipeline from Alberta to Sarnia. Half of the pipeline FOR LEASE AVAILABLE JULY 1st APPROXIMATELY 400 SQ. FEET PRIME OFFICE SPACE 4th FLOOR CANADA TRUST BUILDING APPLY: RENTAL DEPARTMENT THE CANADA TRUST COMPANY Phone 327-1 Alberta to southern Ontario Mr Stead said the NEB panel will also ask questions about the issue of price of the ethylene to be exported, another areaa of concern already identified by the full Board, as well as about other issues raised in intervenors' briefs. He said he does not know, nor does he think the NEB knows, exactly how Dow proposes to set the price for its ethylene exports. The application refers to a selling price set at 105 per cent of Sarnia price for ethylene. Offer to jnirclia-r all the shares of COLUMBIA BREWING COMPANY LTD. of B.C.. I.inntrd to for cash all the of Cohimhia Brrwinp Conipam Lid. at a price of 85.00 PER SHARE Ihr Offer upon al 80'- of the of Columbia Conipam Ltd. deposited on or before JiiK 2. and mile--- extended e-vjnrr-- on September 30. 1974. W e recommend acceptance of the Offer and in rife shareholders to usr our facilities to assist them in depositing their shares. Copir-. of the offrnnc be obtained from the office' of The Canada TTOM Company in talhbndge, Toronto and Montreal, from jour imf-Hn'-nt dealer or Ijroker or from )fc- Reference made to pajte i of ihe offering ornilar for of fee> pajable to ihc undersigned in connec- tion the OfTst. PEMBERTON SECt RIT1ES LIMITED GtMJY LIMITED MIDLAND DOHERTY LIMITED The Herald- Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN OILS AND MINES Alton Mines 5 75 Albany Oil 37 Alta East Gas 5 25 Almmex 5 Asamera 8 50 Ashland 8 BP Canada 1425 Brenoa Mines 5 Cda South 340 Cdn Ex Gas 250 Cdn Homestd 4 35 Cdn Ind Gas Oil 750 Cdn Long Is 21 Cdn Super 41 00 Chieftan Dev 6 75 Dome Pete 27 00 Dynasty 7 Fort Reliance Giant Mascot 1 06 Gibraltar Mines B877z Gt Plains 38 Gt Cdn Oil S 7 75 Lochiel Ex 1 75 Lytton Mm 1 75 Noble Mines 55 North Cdn Oil 395 Numac Oil 11 25 Pancdn Pete 9 25 Pan Ocean 10 50 Petrol 1 40 Pinnacle 28 Place Gas 36 Ponder 54 Ranger Oil 29 00 Scurry Ram 20 50 Seibens 1350 Spooner 30 Total Pete 8 00 Ulster Pete 1 03 United Canso 19 00 West Pete 3 75 West Decalta 6 00 MISCELLANEOUS INDUSTRIES Acres Ltd 7 87 A Aquitame 25 50 BC Sugar C Pfd 1100 Block Bros 3 25 Cdn Pac Inv A Pfd 30 Carhng O Keefe A Pfd 18 25 Carhng O Keefe B Pfd 21 25 Comm Cap Corp 2 25 Crestbrook Ind 5 75 Falcon Copper 10 F and M Trust Co 4 80 Genstar 1900 Home Oil A 37 50 Home Oil B 36 25 Hud Bay Co 16 50 Hud Bay Oil 29 25 Hud Bay Oil A Pfd 40 00 Hugh Russell C Pfd 7300 Husky Oil 1575 Husky Oil B Pfd 34 00 Husky Oil D War 21 Husky Oil E War 6 00 Interprov Pipe War 3 80 Interprov Steel Pipe 15 50 Kaiser Res 4 40 Kaiser Res War 1 93 Loblaw Co C Pfd 25 25 Magnasonics 2 30 Pacific Pete 20 50 Pac West Air 8 Pe-Ben Oilfield Serv 6 25 Ramer Inc 3 37V2 Royal Trust 24 00 Sandwell Teledyne Trimac Canbra Foods Westfield Mm Weston A Pfd White Yukon PIPELINE STOCKS Alta Gas Trk A Alta Gas Trk Pfd Alta Nat Gas Gaz Metro Gaz Metro A Pld Inland Nat Gas N and C Gas N and C Gas B Pfd Pacific Gas Trans Trans-Cda Pipe Trans-Cda A Pfd Trans-Cda B Pfd Trans Cda War WC Trans WC Trans War b f5 365 575 335 1 01 5250 6 87 Vi 1337V4 5600 1787'xi 600 5400 1275 10 87 f, 20 12V, 9 62 V4 1000 5475 3325 1 21 2000 265 CALGARY Acroll 37V4 Barons Oils 08 N Continental 02 Western Warner 26 VANCOUVER MINES Atlas Explorations 23 Bathurst Norsemmes 1 70 Dankoe 2 20 Davenport 80 Dolly Varden 18'4 Equitonai Res 11 Lornex 6 75 Northair Mines 2 08 Primer 04 V4 Pyramid 09 Silve' Standard 1 95 Valley Copper 635 INDUSTRIALS Columbia Brewing 4 70 Key Industries 08 Wardair 1 75 OILS August Petroleum 30 Plains Pete 13 Ponderay Explorations 75 Stampede Intl Res 61 MUTUAL FUNDS All Cdn Compound 5 54 6 02 All Cdn Dividend 577 627 All Cdn Ventures 297 323 Amer Growth Fund 4 27 4 69 A G F Special 2 20 Cdn Invest Fund 451 4 95 Collective Mutual 4 62 5 08 Corp Investors 562 618 Corp Invest Stock Fund 4 24 4 66 Dreyfus Fund US 970 1063 Great Pacific 4 27 4 67 Grouped In Shares 2 67 Growth Equity 610 670 Invest Growth Fund 10 98 12 00 Investors Mutual 5 23 5 73 Mutual Accum 561 6 17 Mutual Growth Fund 280 308 Nat Res 415 4 56 N W Cdn 511 5 62 N W Growth 4 23 4 65 Principal Growth 3 90 4 29 Royfund 6 20 6 46 Templeton Growth 7 27 7 97 United Accum 4 15 456 Universal Savings 7 20 7 92 Univest 5 52 6 07 Vanguard 5 32 5 83 Toronto industrials (Supplied by Richardson Securities of Canada) Acme Advocate Asb Akaitcho MiNES Bethlehem Brunswick Can NW Land Canada Tung Pat com Lake D.ckenson Mines olidona Mm9S Dome Mines East Suii.van Faiconbndge HoHmger Hudson Bay A Hydra Ex Iron Bay Iso Johet Quebec Kerr Addison Lake Shore Langis Silver RL GF Martin McNeely M'dnm New New Calumet Noranda Northgate Norlex Pme Point Placer Dsv Pax Exp Quebec Man RayfocK Radiore Rio Algotn Corp Sleep Sunningdale Tek Corp A United Canso Western Mines WH Copper Mmes Wright Hargteaves Wmdlaii Yellcwfcn! Zenmac Abrtibi Alcan Aigoma Sleel Seat INDUSTRIALS Jannacv Agra Ind Bell Tel Bras-can A BC Tel 10 1 00 1 60 1 42 56 1225 1 60 425 385 625 92 1 10 375 275 23 1 60 525 875 41 25 38' i 4800 1 85 525 265 44 12 18 50 1500 2 15 3300 2037'j 455 1 38 24 1200 28 31 50 500 12'? 1 80 1 41 32 3450 15 14 6 87' 650 22 23 41 00 5 37' 22 3087 1900 1 50 25 1 16 23 2775 937 950 1 56 7 12 335 18'.- 1852 265 300 190 1 75 12 310 07', 11 12 r 2750 2837 1450 637 750 41-62 1587 7 51 00 Burns BC Forest BC Sugar A Bow Valley Ind Cable CAE Ind Carhng O Keefe Chemcell Cdn Cellulose Cal Power Coron Credit CWN Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Do-n Stores Dome Dete Do'asco Glen Mobile Grt Cdn Oil Gen Mo'ors Grt Lakes Paper Gulf On Greyhound Hawker Sid Hiram Walter Huron Erie Imperial Oil A Imasca Ini Nickel Int Pipe Inv Grp A IU Intl Ind Accept Kaps Kel Douglas A Laurentide Loeb Loblaw A Metropolitan Massey Fertj McMiil Bioed Moore Corp Molsons A Molsons B Nachu-s North Cent Power Corp Co Peyio Rothmans Shell CDA Simpsons Simp Seats Sleel Can A Texaco Trad Grp A Trans Mtn Trans Can P ne Union Carbide Union Gas Union Oil Ur iled Siscoe Versatile Vila Weslorii A Canbrs foodi clec Cai Montreal Nova Sco' Royal Tpr BAMKS 11 1600 2000 21 00 1350 900 240 600 480 2275 325 900 20 37Vi 310 1650 1575 1387'z 2825 2650 1575 3775 4475 2525 1087'j 1525 2675 3087'z 380 775 4850 21 00 2675 1575 587'? 4525 2375 2775 2762'.- 2725 1600 1275 1625 238 475 937'i 340 675 1275 1650 2600 5050 2125 1875 687 1087'j 11 00 1350 612 1325 1362 s 787 1125 3075 1300 36 00 1025 1325 967 1950 812 i 950 575 625 21 00 27 S7 2325 335 30D 2550 1687 3500 3235 3725 New York (Supplied bv Richardson Securities of Canada) Amr T S T Anaconda Beth Steel Chrysler Comsat 4662 s1 2962 US 15S7 4367 Genera! Motors GuW Kerin Montgomery Ward Sesrs Exron Texas Gun Texas Co Wix Cc'rporal'or 3025 5075 2037 2575 3450 2750 8767 7250 2725 2550 1262 TOPOI.I f Jt 20 e. Til 7, rjcrwr V 10 Gold5; 4492-' J" 0" 10 Base s 52 43 dcwr 1 18 20 Lower Toronto market price trend continues TORONTO (CP) Prices on the Toronto stock market were moderately lower in light midmorning trading today. The industrial index fell .60 to 191.72, golds 3 06 to 446.13, base metals 111 to 82 50 and western oils 62 to 191.96. Volume by 11 a m was 000 shares compared with MONTREAL (CP) All sectors moved lower in light trading on the Montreal Stock Exchange todav at 11 a rn was lib 000 shares Banks fell 1 05 to 249 93 utilities 47 to 13109 papers 44 to 119 38 the composite 40 to 193 37 and industrials 29 to 202 19 Pacific Petroleum fell '2 to Canron to S22 B Distillers Corp Seagrams i to and Dominion Bridge i to S44Jj while Canadian Industries rose to S20 speculative issues East Malarctic Mines fell to S5 after trading 5 510 share1; Winnipeg grata WIiNNIPEG (CP) Activity continued strong through mid-session todav on the Winnipeg Commodity Exchange with good gams in price for both flax and rye Rapeseed was mixed with higher prices in near months and small losses in the more distant contracts Mondav s volume of trade was 351 000 bushels of flax 915 000 of rapeseed and 7b7 000 of rve Mid session prices Flax Juh 25'2 higher 10 09'28 Oct i2 higher 9 56B nine higher 9 23B Dec 11 higher 8 76B Rapeseed Vancouv er June 30 higher Sept a'j higher 7 23 N'ov higher 6 22B Jan one lower 5 99B Rapeseed Thunder Bav Julj nine higher 7 75 Oct I-1, lower 6 20B ISov two lower 6 124 Dec 23-i lower 5 83A Rve Julv 4Jj higher 2 97'4B Oct 6' i higher 2 93J4B Dec 6J4 higher 2 893jB 11 higher 2 90B Grain quotes Mondav basis Lakehead High Low Close Flax Jh 984 965 984 Oct 944 93o 944 %ov 912 Dec 865 Rapeseed Vancouver Jun 90534 Sep 71734 693 623'2 605 621 "2 Jan 601'2 593'2 600 Rapeseed Thunder Bav Jlv 766 756 766 Oct 6213. 62P4 N'ov 614 Dec Rve Jlv 27834 292'z Oct 288M 274 287'z Dec 286 276 283 Mav 279 Chicago markets CHICAGO (AP) A strong demand lifted farm commodity futures to limits on the Board of Trade and Chicago Mercantile Exchange Monday Limit gjins included 20 cents in wheat 10 cents in corn 6 cents in oats 100 points or 1 cent a pound in oil 20 cents in sovbeans which was whittled to 19 cents at the close and 2 cents a pound in iced broilers On the CME live hog future's advanced the limit of 50 per hundredweight live cattle SI 00 limit pork bellies 150 points limit and shell eggs 200 point limit Eastern commoditv futures were not quite M> volatile Silver copper cocoa and orjnce juice future'; advanced but cotton and coffee declined while world sugar and wool futures closed on mixed tone1; Withholding activitv b- livestock producers stimulated buving of animal futures on the CME and limits and remained there into the close Marketing Mondav were rather light Buvers also had hopes that the government might set asido anv thoughts on imports of meats so that greater consumption of t" S meat5 would result Cash prices were strong at the major markets the close Chicago wheat was up 20 cents Julv 405'3 Gulf hard red wheat up 20 cents December 142 corn fi' i to in higher Julv 2 81' z oats up 6 rents Julv l 46 and H "4 1-fl WB Of-1 74 164 OfiT) 7-i inp, 7'. 174 nil 7uK 7S 1HO fi'i >TirJrf-. s vilumf Kis rowrarts Vie 74 74 IV, 901 17] 70B Mrf, 7S Aw 7S V shares at the same tune Monday Declines outnumbered ad- vances 143 to 56 with 151 issues unchanged Union Oil fell to Northern Electric Vz to Royal Bank Vz to Dominion Textile to and Shell Canada to Market trends VAMOUVER (CP) Prices were down in heavy trading on the Vancouver Stock Exchange Mondav Volume at the close was 4 074 72J shdies In the inductnals Cdnterra led trading down 04 at 48 on 25 500 shares entura 07 at 46 on 6 000 share1. F idelit} was unchanged at 54 50 on 2 1000 shares Imperial Marine was up 01 at 16 on 2 000 shares Computrex unchanged at 40 and Bank of British Columbia trust units uere unchanged at 25 In the mines Consolidated Fortune Channel slumped 13 at 77 on a turnover of 290800 shares Sonesta dropped 20 at on 248800 shares Laura Industries was off 06 at 30 on 243 000 shares Consolidated Fortune Channel Warrants A were down 08 at i" on 165 300 Charta was up 01 at 26 and Gladiator was up 04 at 23 In the oils Pavette rose 29 at 87 on 947 900 shares Pavette Warrants A were up 14 at 41 on 173000 shares Cop was up 02 at 40 on 67500 shares Davenport was down 02 at 78 Placer lost 1 to East Malartic Brunswick Mining 30 cents to 10 and Agnico-Eagle to Numac was down to Canada Northwest to and Asamera Vs to Crown Life gained 2 to Canada Packers C Vz to Inco to and TransCan four cents to on 24 000 shares Seneta Developments was down 06 at 01 and Pincess was down 03' f at 23 NEW YORK (AP) Stock prices ambled about todav in light trading with investorsappaientlv waiting fora change in weather on interest rates The 11 30 a m Dow Jones average of JO industrials was off 08 at 833 15 recovering shghtlv from earlv session lows Declines broadlv led advances 66T to 290 w ith 397 issues unchanged on the IV'W York Stock Exchange LtiliU issues and financial stocks drifted lower responding in part to the interest rate concerns American Electric Power was off at Niagaia Mohawk Power to Telephone to 2 and I-irst Charter 1'j at MGIC Investments gained 's to how ev er Texaco led trading on the NYbE unchanged at '2 followed bv hastman down Livestock Calgary (CP) Receipts to 11 a m Tuesday from the Calgary public stockvards totalled 1 250 head mostlv slaughter cattle with a large number of cows on offer Trade was dull with a narrow demand for most classes Good slaughter steers were scarce during earlv trading with sales around SI lower Heifers sold around SI lower ihan last week s close Lightweight heifers and steers were under pressure being discounted S2 to S3 Cows sold to an uneven demand at prices S2 lower vv ith odd sales to S33 80 Steers Al A2 47 50 to 49 A3 46 to 4750 Heifers Al A2 41 to 42 50 A3 39 to "050 Cows Dl D2 31 to 33 D3 29 to 30 D4 22 to 26 Replacement cattle were in shor' supplv being mostlv steers weighing 750 pounds selling steadv Good feeder steers more than 750 pounds 40 to 4i60 No hogs were sold to 11 a m Hog prices EDMONTON (CP) Average closing llam Tuesday prices provided bv the Alberta Hog Producers Marketing Board Average in brackets for Monday Edmonton 3600 (3500) Red Deer 3600 (3500) Grande Prairie 33 75 (33 75) Llovdmmster Lethbridge 35 00 (34 00) Hogs sold to 11 a m 4 254 Hogs sold Mondav 4 291 Average 34 71 Sows average 18 50 Gold prices LONDON (API Tuesday closing gold prices in U S dollars an ounce oO 58 Frankfurt-156 44 50 Hong 51 023 a kilo Earnings By THE CANADIAN PRESS Cambridge Leaseholds Ltd vear ended Feb 28 1974 SI 128 000 53 5 cents a share' 1973 404 cents Godench Elevator and Transit Co Ltd vear ended March 31 1974 S141000 SI 63 a share 1973 SI 13 00 Kam-Kotia Mines Ltd three months Dividends By I HE CAM4DHN PREbS Dividends are quarterly unless otherwise noted Argus Corp Ltd 15 cents plus an of 30 cents class Cpfd 15 cents plus an of 30 cents both payable Sept 2 record lulv 29 S2 50 pfd series A 62'zcenti class B pfd 67'z cents fiO pfd series A 65 cents all pavable Aug 1 record Juiv Dollar value MONTREAL t S dollar in term'- ot tjnadian funds at noon todav was up T50 dt 14-S Pound sterling was down 9 100 at 1027 50 In rSew York the Canadian dollar was down 7 100 at SI 03 14 25 Pound Merlmg was down !i at S2381) ended March 31 1974 S157 000 37 cents a share 1973 S125 000 2 9 cents Laura Secord Candv Shops Ltd. vear ended April 30 1974 S4 053 000 loss 1973 S933000 Oakwood Petroleums Ltd three months ended March 31 1974 1973 S29511 loss OgiKie Flour Mills Co Ltd vear ended April 30 1974 859 000 i2 84 a share 1973 S3 128 000 97 cents West Indies Plantations Ltd six months ended March 31 1974 S34 449 loss [iv e cents a share 1973 568 nve cents Westmills Carpets Ltd 36 weeks ended Mav 10 1974 70 cents a shdre 1973 S506 000 42 cents Beef futures 'CP) Live beef futures close Mondav Itilv 45 Sept 41 aOB Nov 42 OOB Ian 43 SOB Friddv s volume contracts Feed prices Wheat board riomes'ic pram Mondav 3CW Red Spring wheat 3 42'_z 1 feed barlev 2 30'i 1 feed oats 1 76 PRICES Moy 186.1 i i- c v C 1; 974} Food index up The food price index rose 5 3 m May to 186.1 from the April level of 180 8 The May food index was a full three per cent higher than the April level of 18.3 per cent above May, 1973 ;