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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 20, 1974, Lethbridge, Alberta Thursday, June LETHBRIDGE The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN OILS AND MINES Alton Mines 5 Albany Oil 37 Alta East Gas 4.85 Almmex 5 50 Asamera 8 37 V4 Ashland Oil 1900 BP Canada 13 75 Brenda Mines 6 00 Cda Southern 3.30 Cdn Export Gas 2 60 Cdn Homestead 4.40 Cdn Ind Gas 7.37 Vi Cdr: Long Island 24 Cdn Superior 4000 Chie'tan Dev 6 50 Dome Pete 25 Dynasty 7 87'A Fort Reliance 18 Giant Mascot 1 05 Gibraltar Mines 8.50 Great Plains Grt Cdn Oil 7.75 Lochiel Explor 1.65 Lytton Minerals 1 66 Noble Mines 51 North Cdn Oil 3 95 Numac Oil 11 25 PanCdn Pete 9 25 Pan Ocean 10 Petrol 1 41 Pinnacle .28 Place Gas .38 Ponder .54 Ranger Oil 26.75 Scurry Ram 20.37% Seibens 1312Vi Spooner 27 Total Pete 7 Ulster Pete 1 02 United Canso 1787Vi Westcoast Pete 3 50 West Decalta 5 75 MISCELLANEOUS INDUSTRIES Acres Ltd 7 87Vi Aquitame 25.50 BC Sugar C Pfd 11.00 Block Bros 3.00 Cdn Pac A Pfd 30 00 Carlmg A Pfd 1800 Carlmg B Pfd 21 25 Com Capital 2 25 Crestbrook Forest 5 75 Falcon Copper 9.75 F M Trust 5.00 Genstar 18.87'A Home Oil A 36.25 Home Oil B 35.00 Hudson Bay Co 1650 Hud Bay Oil 28 50 Hud Bay Oil A Pfd 40.00 Hugh Russell C Pfd 73 50 Husky Oil 1600 Husky Oil B Pfd 33 50 Husky Oil D War 12 Husky Oil E War 6.00 Inter Pipe War 3.75 Inter S S P 15.50 Kaiser Res 4.40 Kaiser Res War 1 91 Loblaw Co C Pfd 25 25 Magnasonics 2 25 Pacific Pete 1987% Pac Western Airlines 8 50 Pe-Ben Oilfield Services 5.75 Rainier Inc Royal Trust 23.75 Sandweli 5 75 Teledyne 4.90 Tnmac 5.75 335 1 01 52.00 6.87V4 Canbra Foods Westfield Mm Wesion A Pfd Whitepass Yukon PIPELINE STOCKS Alta Gas A Alta Gas Pfd Alta Nat Gas Gaz Metro Gaz Metro A Pfd Inland Nat Gas N C Gas N C Gas B Pfd Pac Gas Trans Tr-Cda Pipe Tr-Cda Pipe A Pfd Tr-Cda Pipe B Pfd Tr-Cda Pipe War West Trans West Trans War CALGARY Acroll Barons Oil N Continental Western Warner VANCOUVER MINES Atlas Explorations Bathurst Norsemmes Dankoe Davenport Doliy Varden Equitonal Res Lornex Northair Mines Pnrner Pyramid Silver Standard Valley Copper INDUSTRIALS Columbia Brewing Key Industries Wardair OILS August Petroleum Plains Pete. Ponderay Explorations Stampede Int'l Res MUTUAL FUNDS All Cdn Compound 5 47 5.95 All Cdn Dividend 5.70 6.20 All Cdn Ventures 2.94 3.20 Amer Growth Fund 4.23 4.65 A.G.F. Special 2.17 Cdn. Invest Fund 447 491 Collective Mutual 4 60 5 05 Eaton Comnwlth 1244 Eaton Leverage 2 94 Eaton Int'l Venture 5.53 Corp Investors 5.52 6.07 Corp Invest Stock Fund 4.19 4.60 Dreyfus Fund U.S. 9.58 1050 Great Pacific 425 464 Grouped In Shares 2.65 Growth Equity 6 05 6.65 Invest Growth Fund 10.89 11.90 Investors Mutual 5.18 5.66 Mutual Accum 5.57 6.16 Mutual Growth Fund 9.78 1075 Nat Resources 4 09 4 49 N W Cdn 5.06 5 56 N W Growth 4 18 4.59 Principal Growth 3 85 4 23 Provident Mutual 6 69 7.31 Royfund 6.14 6.39 Templeton Growth 7.28 7.98 United Accum 4 13 4.54 Universal Savings 7.17 789 Univest 5 50 6.04 Vanguard 5 39 5 91 13.25 56.00 17.75 6.00 54.00 12.25 10.75 20.00 950 1000 5500 34.00 1.15 20.00 2.60 38 .08 .02 26 .24 1.55 2.15 80 20 10% 6.75 2.40 .04Yi .09 1.97 650 470 08 1 75 .30 14 .75 61 Toronto industrials (Supplied by Richardson Securities ot Canada) MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons Rambler Coin Lake Cochenour Craigmont Dickenson Mines Demson Mines D'Eldona Dome Mines Discovery Mines East Maiarnc East Sullivan Falconbndge Frobex First Mantimes Giant Y.K Granduc Hollmger Hudson Bay Hydra Ex Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Sho'e Langis Silver Madsen R L Malartic G F Martin McNeely Maclntyre Meta Midrim Intern Mogul Nu West Homes A New Athona New Calumet Noranda Northgate Noriex Pine Pom! Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman" Corp Srierntt Gordon Sleep Rock Sunnmpdate Corp A tinned Canso Western Vlines WH Copper Mines Wright Harqreaves W.-llroy YeHoWI'ntle Bcs' fNDUSTRlALS Abrtibi Alcan Aipoma Steel Alco 1nd Jannatrl- Agra Ind Bell Tel Brascan A 09 95 1.51 1.43 55 12.37% 1.55 4.25 5 380 6 37'4 .91 1.11 385 260 .21 1 47 5 37% 800 41 25 46.50 1 71 485 255 4400 47 14.50 2.25 3225 20 37' i 66 455 1 37 24 11.75 .27 3250 500 1.67 1 37 .32 3500 .16 14 637'.- 650 21 23 .4025 500 21'.- 3062'.- 1950 1 47 24 1 10 23 2625 950 156 650 340 18 1787'.- 265 310 220 155 12 305 07'.- 11 2737'.- 2837'.- 1400 725 4162'.- 1600 BD Tel Burns BC Forest BC Sugar A Bow Valley Ind Cable CAE Ind Carlmg O'Keefe Chemcell Can Cellulose Cal Power CWN Gas Pfd Cdn ind Cdn Marconi Cdan Vickers Chrysler CPR Commco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mobile Grt Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Hawker Sid Hiram Walker Huron Erie Imperial Oil A Int Nickel Int Pipe Inv Grp A IU Int I Ind Accept Kaps Kel Douglas A Laurentide Loeb Loblaw A Metropolitan Massey Ferg McMill Bloed Moore Corp Molsons A Molsons B Nachurs North Cent Power Corp Price Co Peyto Rolhmans Shell CDA Simpsons Simp Sears Steel Can A Selkirk A Texaco Trad Gtp A Trans Wltn Pipe Trans Can Pipe NEW Union Carbide Union Gas Union Oil Untied Siscoe Versatile Westeel Westons Woodwards A Canbra "oods Zen ilh Can Imperial Montreal Ncwa Scotia Royal Tor Dom BANKS 51 50 11.37V4 1600 19.62% 19.00 8.75 235 "625 4.95 22.50 9.00 20.37V, 3 10 1650 15.62% 13.87% 28 12% 27.25 1500 38.00 44.25 25.50 10 62% 1525 25 37'4 3050 3.80 7.75 4800 2075 2675 16.00 5.87'i 45 12% 2350 2750 27.25 15.62% 6 11 50 1625 2.31 4 87% 9.00 3.45 6.75 1200 1637% 26 12% 5025 21.50 1950 662% 1075 1075 1375 587'.- 1325 13.37'; 762'.- 11OO 30 1250 3787'.- 10 1275 1000 19 OO 7 87'i 975 575 600 2050 22 871.- 23 SO 335 300 2512'.- 1662'.- 35 12'.- 3250 37 371j New York Supplied by Richardson Securities of Canada) Amt TST Steel Chrysler Comsai General Mola'S Gulf inl Harvester Kenn Coppe' Montgomery Ward Sears Tsrss Co Wix Coroeraiion -H637', Woolwoflh 1525 2187% Weslmghouse Elec 1562'? 29 75 US Steel 43 00 16 25 Gen tlCC 21 30 50 TORONTO AVERAGES 16850 20 Industrials 19067 up 17 50 25 20 Golds 437 68 down 3 26 20 Of 10 Base Melals 82 49 down 40 2550 15 Western Oils 186 78 down 47 33 00 NEW YORK AVERAGES 2675 20 Industrials 82681 up S5621? 20 Bails 168 79 down 23 7125 15 Ut i lilies 69 5S down 54 26 50 65 Slocks 246 75 down 20 25 50 Volu-ne 5 120 000 Volume 607 000 Chicago markets CHICAGO (API Farm commodity futures were ahead in a last-minute rally on the board of trade Wednesday, but elsewhere (commodity futures generally closer lower Wheat, old crop corn and soybean oil futures gained the limit for one session, while strong advances were posted in oats and soybeans Soybean meal increased about a ton In New York, silver futures fell cents an ounce and 10 cents in Chicago on selling linked to late developing weakness in gold prices abroad Cotton futures fell close to a bale, and cocoa, world sugar, orange juice and Maine potatoes also declined Copper futures gained up to 200 points and wool futures closed on a mixed tone The strong demand for commodities that was prevalent Tuesday on the Mercantile Exchange appeared to have been exhausted Cattle futures closed a hundredweight lower to higher, both limits with the expiring June in demand Hog futures fell as much as the daily limit of a hundredweight and shell eggs lost up to 150 points with pork bellies down 150 points, a limit Prices on the Board of Trade were uneven through the first 30 minutes, then improved under mixed demand They then fluctuated until the closing 30 minutes when wheat futures were ahead and other commodities turned strong Cash prices for livestock appeared to be somewhat unsettled Wednesday and this accounted for some uncertainty as to direction of prices on the Mercantile Exchange in futures. Weakness in Pork bellies was attributed to a higher storage figure and cash egg market weakness was a selling factor in futures At the close on the Board of Trade. Chicago wheat was 19 to 20 cents a bushel higher. July 4 25: Gulf hard red wheat not traded during the day, corn to 10 higher. July 2 oats 3 to 5 higher. July 1 and soybeans 5 to 7 higher. July 5.51 V2. Grain quotes Wednesday Wheat. Jul 4.25, Sep 426'z Dec 4 Mar 4 39. May 4.41 Corn- .lul 2 Sep 2 75. Dec 2.56 Mar 2 61. May Oats- Jul 1.43V2. Sep Dec Mar 1 45 Winnipeg grain WINNIPEG (CP) All prices were higher with the exception of flax in moderate activity at mid-session today on the Winnipeg Commodity Exchange Flax, in a light trade, was down as much as 10 cents a bushel. Rye gained as much as 9'2 cents, while rapeseed was up between four and 13 cents Wednesday's volume of trade was 396.000 bushels of flax. 1.260.000 cf rapeseed and 995.000 of rye Mid-session prices. Flax- July six lower 10 21A Oct 10 lower 9 63. Nov four lower 9 24A. Dec eight lower 8 90A Rapeseed Vancouver- Sept 13 higher 7 27A- Nov eight higher 6 29A. Jan 10 higher 6.07A, June not open Rapeseed Thunder Bay July unchanged 789B: Oct four higher 6 23A: Nov four higher 6 19A: Dec not open. Rye .luly 9'z higher 313'iA: Oct nine" higher Dec fi'-s higher 2 99B. May unchanged 2 91B. Grain quotes Wednesday basis High Low Close Flax Jly 1027 1015 1027 Oct 973 958 973 Nov 929 918 928 Dec 898 883 898 Rapeseed Vancouver Jun 9253i 901 916 Sep 714 692 714 Nov 621 603 621 Jan 597 584 597 Rapeseed Thunder Ba> Jly 789 Oct 619 614 619 Nov 615 Dec 577 Rye Jly 304 290 304 Oct 297'j 286'i 2S63-. Dec 29234 287 Mav 291 Livestock Calgary CALGARY (CP) Receipts to 11 a m Thursday from the Calgary public stockyards totalled 600 head, mostly slaughter cattle lacking quality with the bulk being cows Trade was dull with a narrow demand. A few slaughter steers weighing more than 1.000 pounds were on offer, selling about steady Steers under 1.000 pounds were under pressure, discounted S3 to Heifers were lower with lightweights discounted to S5 Good cows sold unevenly steadv Steers. AI. A2 4750-4990. Heifers. A1. A2 3850-4050 Cows. Dl. D2 27-30 D3 23-26 W 18-22 Replacements were mostly yearling steers meeting in indifferent demand at barely steady prices Good feeder steers more than 600 pounds 38-43 No hogs were sold to 11 a m Feed prices WINNIPEG was dnwn 1-25 at SO 96 7-10 Pound sterling was down 11-25 at S2 30 41-Xl In New Yort. the Canadian dollar was up 1-25 at 03 4J-50 Pound sterl- ing was down 7-20 at S2 38 I Friday Saturday _ June 20-21-22 All 60" Fabrics 10% oft; Flannelette SPECIAL yard Foam Sheets m Bed New Stock of Floral Fortrels lOOIbs. of Denim speTSAL ECONOMY REMNANT CENTRE 310 -6th Street South fabrics by the yarn Remnants by 1he pound1 shares Sonesta was up .09 at SI 09 and Laura was down one-half cent at In the oils. Cop-Ex was up 02' z at on 44.500 shares. Davenport was unchanged at 82 on 16.916 shares Princess was unchanged at 26 on 10.000 shares Coynex was up .08 at SI 79 on 8.000 shares August Petroleum was down 01 at 31 and Galveston was down .10 at SI 10. NEW YORK (AP) The stock market continued its recent slow- motion slide today The 11 30 a m Dow Jones average of 30 industrials was down .78 at 825.33. and losers opened up a four-to-three lead over gainers on the New York Stock Exchange Trading was light Currencies MONTREAL (CP' Thursday's mid-day exchange selling rates supplied by the Bank of Montreal Bermuda dollar 1 01 China renminbi 5100 France franc 2020 Germany mark 3905 Italy lira 001535 Japan yen 003480 Mexico peso 0789 Spain peseta 0172 Switzerland franc 3270 I'mtod States dollar 9695 t'nited Kingdom pound 2 3400 fSSR ruble 1 30 Quotations m Canadian funds Gold futures WINNIPEG 'CP' Gold futures, I" S funds. Winnipeg Commodity Exchange Wcdm-iday 4W-Potict- contracts Jly 74 153 S5A. Ort 74 159 45i. Jan'o 164 75. 75 370 00 Jly WB Tuesday s volume 3.V contracts lod-otmcc contracts Aug 74 SO. Nm- 74 161 708, 75 Ma? 75 172 408. Tursin "s Hog prices KiVMOVIYTV ifTi HvfTZKC 11 a m Trnrf; prmidpd tn 37 -in 1 37 p an 37 SO 37 SO i .17 SO i -ifi VI iK 37 1 Cf IB S W Price hike should help cut oil sands deficit CALGARY (CP) The increase in the price of crude oil that went into effect April 1 should help Great Canadian Oil Sands Ltd. (GCOS) Ltd. to reduce its deficit, president Kenneth F. Heddon said today at the an- nual meeting of shareholders. At March 31, the company had an accumulated deficit of million. He said size of the reduction would depend heavily on the company's cost situation and reduction rate. The company now receives an average of a barrel for its output. Mr. Heddon said his op- timism for the company and development of the oil sands was tempered by "some harsh realities of costs and long lead "The oil sands are probably two decades away from being able to supply a substantial portion of Canada's hydrocarbon he said. "The present approved pro- jects, Syncrude and Shell, when completed and operating in the early '80s, plus GCOS, will likely meet no more than 10 to 15 per cent of Canada's oil demand at that time." Mr. Heddon said he is con- cerned about the political and economic environment in Can- ada and the growing number of attacks on corporations. "The oil industry is the ham in the federal-provincial sand- wich as these jurisdictions continue their battle for tax revenues. The result is double taxation which, in some cases, not only eliminates profit but creates losses." Reach agreement on second B.C. stock exchange VANCOUVER (CP) The Vancouver Stock exchange and the British Columbia Securities Commission an- nounced Wednesday that agreement has been reached on the creation of a second stock exchange in B.C. The new exchange, to be known as the Vancouver Curb Exchange, will open Aug. 1, the Vancouver Stock Ex- change said in a statement. The curb exchange will use the facilities of the Vancouver Stock Exchange, listing shares of junior companies which do not meet the listing requirements of the present exchange, the statement says. The statement says it is the intention of the Vancouver Stock Exchange and the Securities Commission to dis- band the over-the-counter market and the interim sec- tion of the present exchange. Both the B.C. Securities Commission and the Van- couver Stock Exchange are hopeful that the new exchange 'will provide an orderly and regulated market in the shares of junior B.C. com- panies, and will give a greater measure of shareholder protection in requiring full disclosure of both company af- fairs and market activity, says the statement. Alberta trade mission signs coal for ore pact BRASILIA (Reuter) A trade mission from Alberta has concluded an agreement with the Brazilian government to exchange coal for iron ore, a communique from the Brazilian for- eign ministry said Wednesday. Details of the contracts will be work- ed out shortly by means of direct contact between the Canadian coal-mining companies and Siderbras. the Bra- zilian government steel holding company. In principle, it was agreed that starting in 1975. Brazil will take 300.000 tons of coal, in- creasing annually to a total of between 1.2 to four million tons. In return. Brazil will ship one million tons of iron ore and pellets an- nually to Alberta. This may be doubled later if plans for expanding the Alberta steel industry materialize, the minis- ter said. It was also agreed to study the feasibility of joint ventures in which Brazilian companies would associate with Canadian coal mining companies in Alberta to increase production. Alberta firms would then participate in Brazilian iron ore and bauxite mining pro- jects. Industrial corp. profits increase Vrt 42 7M? .Ian 41 OTTAWA (CP) Industrial corporation profits after taxes climbed 45.7 per cent in the first quarter of 1974, substan- tially above totals recorded in the similar period for 1973. Statistics Canada reported Wednesday. Combined with a rise in sales of 24 per cent, the figures indicate a significant average increase in profit Seeding operations end near CALGARY (CPi Seeding of all grains is vir- tually complete in Alberta, the Alberta Wheat Pool said today Operations in eastern Alberta should conclude within two or three weeks while the threshing of last year's crop has also finished The moisture for topsoil and subsoil declined during the week Only in the Brooks- Lethbridge area and the Peace River district is the topsoil moisture at less than 80 per cent capacity, the Pool margins of the companies. The Statistics Canada figures show that actual es- timated after-tax profits were increase of million over the first three months of 1973. Mr. Heddon labelled as false recent allegations that GCOS would be profitable if its chief Oil not skim off profits. Sun Oil, in various ways, had enabled GCOS to keep operating, he said. Also untrue were allegations that the company had adopted accounting procedures geared only to report losses, he said. The company earlier reported a loss of for 1973. compared with a loss of for 1972. Farmers record profit OTTAWA (CP) Despite sharp rises in feed prices last year, farmers still profited from the sale of meat and poultry products, a food prices review board working paper says. The paper, prepared by board economists R. M. A. Lyons and David J. Clarke, says that feed and protein prices "increased dramatically" between November, 1972. and late 1973. U.S. corn sold in Montreal markets rose by 115 per cent to a ton: domestic barley prices rose 102 per cent to a ton: soymeal prices rose 234 per cent to a ton. But the authors add that "market prices of each com- modity increased at least enough to offset the higher feed prices and left producers in at least as profitable a posi- tion as they were when feed prices began to increase in late 1972." Beef prices, however, did begin to drop in the fall of 1973 and early 1974 because of a flood of U.S. imports, now curtailed through the use of tight government restrictions on imports of cattle treated with the growth hormone diethylstilbestrol The paper was prepared as background for a previously- released board policy state- ment on feed grain. In the earlier report, the board described feed barley, oats and poorer grades of vitally important components in consumer food prices. SALVAGE New Safeway Mobile Home Serial No. 60EXXB2967 light half 60 x 12' of double wide can be seen at Safeway Shelter System Ltd. south of Hangar No. 1, Claresholm remit bids to Undersigned CROSLAND PEACOCK LETH. CO. LTD. 519-7th St. S. Lethbridge, Alberta Jj cttcttron 1003 4th Avenue South, Lethbridge Telephone 328-4426 y, roccsstng SMART EXECUTIVES LMSI Tfcir Risimss ind Pireoml Can MCAUU... can IMS than buying Leasing is tints saving and convsnteni Leasing simplifies your tax records No cash investment required IrlV trWJIffttn9 Ofl COTVtatCf SOMIS KORISMnmOV, unO BENY CHEVROLET OLDSMOBILE LAAftiNO AND INSURANCE DIVISION 2nd Ave. and 8th St. S. Phone 328-1101 ;