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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 26, 1974, Lethbridge, Alberta Wednesday, Junt LETHBRIDGE HERALD-39 Moderate TSE mid-morning trade Lower stock price trend continues TORONTO (CP) Prices on the Toronto stock market were fractionally lower in moderate mid-morning trading today. The industrial index fell .28 to 187.96, golds 5.81 to 411.39 and western oils .02 to 183.57. Base metals were up .25 to 79.80. Volume by lla.m. was 000 shares compared with shares at the same time Tuesday. Declines outnumbered ad- vances 112 to 63 with 136 issues unchanged. Brascan lost IVz to National Trust 1% to Canadian Pacific Investments Vz to Consolidated Bathurst Vz to and Bank of Nova Scotia to Sherritt fell V4 to Granduc 15 cents to and Pamour to Quasar Pete was down 25 cents to and Oakwood five cents to Alberta Gas Trunk A gained V4, Kerr Addison Vz to East Malartic 10 cents to Sogepet five cents to and Canadian Export Gas two cents to Chicago CHICAGO I API .Most commodity futures came under selling pressure on major United States exchanges Tuesday. Limit losses were posted in wheat, corn. oats, soybean meal and oil futures on the Board of Trade. Soybeans were down the 20 cents a bushel limit for a time, then closed just under the limit. Pork belly futures closed with limit gains and live hogs gained up to the limit of a hundredweight, but live cattle were mixed and shell eggs weak on the Mercantile Exchange. Copper futures fell sharply, up to 500 points. Cotton futures fell as much as a bale on selling. Coffee, orange juice and wool futures also declined, while silver, cocoa and world sugar contracts gained. The big force for selling on the Board of Trade was an agriculture department report on this year's corn production. The report revised the March forecast from an expected record yield of 6.7 billion bushels to 6.3 billion bushels. Lighter hog marketings and reduced hog slaughterings accounted for the buyer interest on the Mercantile Exchange in hogs and bellies. Cattle futures showed some early strength, but it dissipated under late profit- taking along with eggs. World Sugar futures reflected foreign interest in the cash market. At the board of trade close. Chicago wheat was 20 cents a bushel lower. July 4.57: Gulf hard red wheat not traded: corn Tk to 10 lower. July 2.94'Xi: oats 5% to 6 lower. July and soybeans 12 to 19 lower. July 5.69. Grain quotes Tuesday: Wheat: Jul 4.57. Sep Dec Mar 4.65. May Corn: Jul 2.94V2. Sep Dec Mar May 2.78. Oats: Jul Sep 1.45. Dec Mar May MONTREAL (CP) Prices were generally lower in light trading on the Montreal Stock Exchange today. Volume at 11 a.m. was shares compared with at the same time Tuesday. Utilities fell 1.81 to 125.25, banks 1.19 to 245.28, the composite .47 to 188.83 and papers .16 to 119.98 while industrials rose .06 to 198.34. Brascan fell 1% to Banque Provinciale du Canada to and Bank of Nova Scotia to while Banister Corp. rose to and BP Canada 'A to Among speculative issues. Mount Jamie rose 3% cents to 27% cents after trading shares. VANCOUVER (CP) Prices were up in light trading Tuesday on the Vancouver Stock Exchange. Volume at the close was 2.139.534 shares. In the industrials, lonarc was down .02 to .50 on 6.000 shares. EDP was unchanged at .14 on 4.500 shares. Gestalt was unchanged at .90 on 2.000 shares. Canterra was up one cent to .42 on shares. Pace was unchanged at .55 and Newmark was unchanged at In the mines, Skaist was unchanged at .17 on 196.500 shares. Consolidated Fortune Channel was up .06 to .70 on 156.500 shares. Sonesta was up .08 to on 116.200 shares. Rackla River was up .02 to .35 on 68.500 shares. Laura was up .03 to .27 and Charta was down one cent to .26. Winnipeg grain WINNIPEG (CP) Vancouver rapeseed prices posted strong gains in an improved volume of trade at mid- session on the Winnipeg Commodity Exchange today. Flax was sharply lower, rye made slight advances and Thunder Bay rapeseed was narrowly easier- Volume of trade Tuesday was bushels of flax, of rapeseed and 34.007 of rye. Livestock Hog prices EDMONTON (CP) Average prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board. Tuesday average in brackets: Edmonton: 38.50 (39.501. Red Deer: 38.50 Grande Prairie: 37.25 Lloydminster: Nil Hogs sold to 11 a.m. Hogs sold Tuesday 3.615. average 39.41. Sows average 20.50. Dividends by THE CANADIAN PRESS Dividends are quartprly unless otherwise noted. Anglo-Canadian Telephone Co., per-cent pfd.. cents; pfd., 66Vj cents: S2.90 pfd. 73 cents: S3.I5 pfd.. 78% cents: all payable Aug. 1. record July 10. B. C. Sugar Refinery Ltd., class A, 35 cents, an increase of 10 cents; class B. 29% cents, an increase of 8% cents: pfd.. 25 cents: all payable July 31. record July 5. Canada Permanent Income Investment, trust units. 6% cents. July 22. record June 28: cents. Aug. 21.'record July 31: 6% cents. Sept. 20. record Aug. 30. Columbia Gas System Inc., 49% cents. U.S. funds. Aug. 15. record July 29. Economic Investment- Trust Ltd., pfd.. 62% cents. Aug. 30. record Aug. 9. General Bakeries Ltd., cents. July 31. record July 15. Fund Inc., income shares. 12 cents interim. U.S. funds. July 17. record July 3. Hudson's Bay Oil and Gas Co. Ltd.. 45 cents semi-annually. an increase of five cents: series A pfd.. 62% cents; both payable July 15. record July 5. C. A. Pitts Engineering Con-' siruction Ltd., class B. 5.1 cents: class C. six cents; both payable Aug. 9. record July 15. Reid Lithographing Co. Ltd.. 6'vper- cent pfd.. 78'i cents. Aug. 15. record- July 31. Reynolds Aluminum Co. of Canada Ltd.. pfd.. S1.19. Aug. I. record July 1. Scott M sener Steamships Ltd.. .5'i-per-cent pfd.. 27'z cents. July 15. record July 9. Seco-Ccmp Hd.. 7'i-psr-cent pfd. scries A. 18.125 cents. July 15. record June 38. Alliance Building Corp. Ltd.. five cents semi-annually. initial since incorporation. Aug. 1. record July 15. Canadian Vickers Ltd., 15 cents. July 15. record July 2. Dover Industries Ltd.. 35 cents. an increase of three cents. Dec. I. record Nov. 51; extra. 21 cents. Sept. J, record Aug. 1C. Inlcrprovincial Sled and Pipe Corp. Ltd.. 25 cents. July J9. record July 2. Standard Broadcasting Corp. Ltd.. I2'a cents. Oct. II. record Sept. 20. Trimac IM.. cents. JuSy 22. record June 28- Mid-session prices: Flax: July eight cents lower 10.08: Oct. lower 9.62B: Nov. one lower 9.28A: Dec. eight lower 8.93B. Vancouver Rapeseed: June no price: Sept. 2% higher Nov. 7% higher Jan. four higher 6.10B. Thunder Bay Rapeseed: July no price: Oct. IVj lower Nov. lower 6.08; Dec., no price. Rye: July two higher S.uWB: Oct. higher Dec. higher Grain quotes Tuesday Lakehead: High Low Flax Jly 1027 1016 Oct 984 Nov Dec Rapeseed Vancouver Jun Sep 735 715 Nov 651 630% Jan 614% 600% Rapeseed Thunder Bay Jly Oct Nov Dec Rye Jly" Oct Dec Mav 757 620 307% 300 746 618 300 293% basis Close 1016 970 929 905 769 715 630% 606 730 618 608% 570 300 293% 291 Earnings Sj THi; CANADIAN PRESS Consolidated Devel- opment Ltd.. six rnrmtfis ended May 31: 1S74. 25 cents. W73. 21 rents. Cablccasting Ltd., nine months OTOpd May 31 1974. 18 cents -a share. six cents. A. L. Green Ltd., Ihrcc mrmths ended April 1S74, 1973, Ltd.. three months ended April 3d 1S74. SBSO.m 10.7 writs stare; W3. fl twits. In the oils, Cop-Ex was up one cent to .37 on 84.500 shares. Payette was up .04% to .51 on 65.500 shares. Princess was up .02 to .24 on 33.000 shares. Davenport was down .04 to .80 on shares. Seneca Developments was up .02 to .97 and Payette Warrants A were up .04 to .26. NEW YORK (API Rising interest rates reasserted their grip on the stock market today, driving prices broadly lower in light trading. The a.m. Dow Jones average of 30 industrials was down 5.24 at 823.61. and losers outstripped gpiners by nearly two-to-one on the New York Stock Exchange. Several U.S. banks increased their prime lending rates from 11% to 11% per cent today, and experts held out the possibility of a record 12 per cent rate on loans to big business soon. Travelers Corp., the NYSE volume leader, was down 1 at Western Union at First Wisconsin Corp. 1% to American Motors edged up to Seaboard World Airways to S4. Among Canadian issues, Alcan rose to Canadian Pacific was down 11 at Massey Ferguson to Mclntyre to Dome Mines to Inco was unchanged at The Amex volume leader was National Paragon, down at A tnateur prospectors Gem miners at Holbrook Mine near Franklin, N.C., search for gems in a long wooden sluice with none of the rigors of mining to weary them. The "prospectors" purchase buckets of gravel and pay a gem panning fee and then search through the gravel for rubies, sapphires and semi-precious stones. Currencies MONTREAL (CP) Wednesday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: Australia dollar 1.45 Bermuda dollar 1.01 China renminbi .5100 Denmark kroner .1670 France franc .2030 Germany mark .3875 Italy lira .001535 Japan yen .003480 Mexico" peso .0793 Spain peseta .01715 Switzerland franc .3270 United States dollar .9720 United Kingdom pound 2.3300 USSR ruble 1.30 Quotations in Canadian funds. Gold futures WINNIPEG (CPl Gold futures. U.S. funds. Winnipeg Commodity Exchange close Tuesday. 400-OUNCE CONTRACTS: Jly 74 150.10A: Oct 74 155.70: Jan'75 161.30A: Apr 75 167.10A: Jly 75 I72.20B. Monday's volume: 283 contracts. 100-OUNCE CONTRACTS: Aug 74 152.75A; Nov 74 157.80; Feb 75 163.00B: May 75 168.00B: Aug 75 173.25. Monday's volume: 47 contracts. Gold prices LONDON (APi Tuesday's closing gold prices in U.S. dollars an ounce: London 350.00 Paris 14525 Frankfurt 148.55 Zurich 151.00 Honp Kong I45S! Beirut 4.753 a kilo. Dollar value MONTREAL U.S. dollar in terms ol Canadian funds at noon today was down MO at 9-W. Pound sterlinp was down S-30 at 18-Zi. In New Yortt. the Canadian dollar was up 11-KW at Sl.ffi Pound sterling was op 3-20 at MO. Beef futures WINNIPEG n model Charge it to your Sears all-purpose account al Simpsons-Sears you gel the fmest guarantee satisfaction or money refunded and 1ree delivery Simpsons-Sears Ltd. 3TORE HOURS: Open Daily from a.m. to p.- Thursday and Friday a.m. to p.m. Centre Village Mall. Telephone 328-9231 ;