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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 6, 1974, Lethbridge, Alberta 18-THE LETHBRIDQE HERALD Wednesday, March 6, 1974 Existing Future The Herald Subway grows A 2.7 mile extension of the Toronto Transit Commission's Yonge Street line opens March 30, the 20th anniversary of the opening of the original subway. Map shows the existing 26.5 miles of subway line (including the new and the routes of proposed and possible future subway extensions. Beef imported from U.S. may require DES free tag By BRUCE LEVETT WASHINGTON (CP) United States beef headed for Canadian dinner tables soon may be required to carry pa- pers certifying it is free of the controversial compound diethylstilbestrol. An official of the agriculture department said Tuesday the U.S. is working on a certification plan to head off any possibility of Canada closing the border to northbound herds that last year were valued at more than million. The statement followed recent removal of a U.S. ban on diethylstilbestrol a steer-fattening hormone which has been described as possibly causing cancer in humans. Dr. Hyman Steinmetz of the meat and poultry inspection 'division said in an interview that on a recent trip to Ottawa, members of his department were told that Alberta's high oil price desire not TORONTO (CP) Alberta's desire to sell oil to Canadians at inflated world prices is understandable but not defensible, Ontario Energy Minister Darcy McKeough said Tuesday. It will only create a great SOUTHERN PRINTING COMPANY LIMITED APPOINTMENT GEORGE SAITO Southern Printing Company Limited, of Lethbridge. is pleased to announce the appointment of Mr. George Saito as Sales Manager of its Commercial Printing Division. George has had 20 years extensive experience in the printing and stationery Held in the Lethbridge area, and would like to make available his services to friends and customers, old and new. Mom GEORGE ft... 328-5114 1233-2nd South Alberta, not a great Canada, he told the annual convention of the Ontario Municipal Electric Association. "In the first instance, that so-called world price is a phoney price. It has been set on the basis of a self-serving the organization of petroleum producing to what the market will bear. "I frankly see little reason why Canadians should pay a world monopoly price for oil that is produced in Canada. What is nationhood all Mr. McKeough said a funda- mental question is whether it is better to build an economically strong Canada or an immensely robust economy in a particular region. Oil priced at say a barrel at the wellhead would likely build a great Alberta, be sug- gested. But oil priced at 16 a barrel, and an appropriately related price in all parts of Canada, would build a strong Canada. A government-proposed voluntary freeze on domestic crude oil prices at the wellhead has remained at about since last September. The freeze is scheduled to end this month and the expectation is that the wellhead price will be allowed to rise to a barrel. livestock sold in Canada must be free 9f DES. Earlier, Agriculture Minister Eugene Whelan said the lifting of the ban on the hormone in the U.S. may result in an embargo on beef imported from the U.S. Dr. Steinmetz said there is "a time lag" of about 60 days .before DES-fed steers can reach market and by that time the department hopes the certification program will be under way. Manufacturers of the hor- mone recently won an appeal court decision setting aside the Food and Drug Administration's (FDA) ban on DES. Whether the ruling becomes permanent depends on the outcome of public hearings. One source, who said the hearings won't begin for two to four months, said it will probably be a year before the issue is resolved. Exports of U.S. slaughter cattle to Canada have averaged head a week since Jan. 1. In addition, U.S. exports of dressed beef have averaged pounds a week. Added to the health issue, which some cattlemen say is an emotional one not supported by facts, there is an economic problem. "I have been told there are cheaper gains in livestock fed Dr. Steinmetz said. "Growers claim they get more meat from the same amount of feed." Canadian cattle men have protested that, in competition with ranches permitted the use of the compound, they are at an economic disadvantage. Top price BRANDON (CP) A cow imported from Switzerland five years ago received top price here when sold with a heifer calf at foot for The cow and calf were purchased by Big Valley Cattle Co. of Winnipeg in the first million beef cattle production sale in Canada. Following a long and distinguished career with our Firm, our Managing Partner, NORMAN J. ALEXANDER is retiring ALAN G. THOMPSON Deputy Managing Partner, has been appointed Managing Partner, effective March HOWARD R. BENNETT of Toronto and R RICHARD WHITTALL of have been appointed Deputy Managing Partners. RICHARDSON SECURITIES OF CANADA AFFILIATE OF JAMES RICHARDSON e Soxs, LIMITED ESTABLISHED WOHMTO9OTI 9WljDtm6 WWWIPSG Business Stocks Miscellaneous Vancouver, Calgary, Montreal (Supplied by Doherty, McQuaig Ltd.) WESTERN OILS AND MINES Alton Mines 8.00 Albany Oil .64 Alminex Asamera 12.37V4 Ashland Oil 11.00 Alta East Gas BP Canada 16.25 Brenda Mines Can South Cdn Ex Gas 3.25 Cdn Homestd 7.12V4 Cdn Ind Gas Oil 9.50 Cdn Long Is .24 Chiettan Cdn Super 57.00 Dome Pete 42.12'xi Dynasty 10.00 Fort Reliance .28 Giant Mascot 1-73 Gibraltar Mines 10.50 Granisle 9.25 Gt Plains 28.50 Gt Cdn Oil S 9.50 Lochiel Ex 2.85 Lyfton Min 1.55 Noble Mines .93 North Cdn Oils Numac 16.50 Pancdn Pete 12.25 Pan Ocean Petrol 1-80 Pinnacle .22 Place Gas -52 Ponder .49 Ranger Oil Scurry Rain Seibens 17.75 Spooner .35 Total Pete Ulster Pete 1.32 United Canso West Pete 6.25 West Decalta 7.75 MISCELLANEOUS INDUSTRIES Acres Ltd 11-50 Aquitaine 30.00 BC Sugar A Pfd 14.00 Block Bros 3.50 Cdn Pac Inv A Pfd 35.25 Com Cap Corp 2.35 Carling O'Keefe A Pfd 23.50 Carling O'Keefe B Pfd 28.12% Crestbrook Ind 10.50 Crowsnest Ind 26.00 Falcon Copper 12.50 F and M Trust 5.25 Genstar 18.75 Global Com Units 35.00 Home A 53.50 Home 8 48.00 Hud Bay Co Hud Bay Oil 46.00 Hud Bay A Pfd 48.50 Hugh Russell C Pfd 71.00 Husky Oil 22.50 Husky B Pfd 40.50 Husky D War 6.50 Husky E War 9.75 Hys of Canada 3.45 Inter Prov Pipe Inter Prov Steel 15.75 Kaiser Res 3.10 Kaiser Res Wts 1.16 Loblaw C Pfd 27.25 Magnasonics 5.25 Pacific Pete 33.25 Pac West Air 8.00 Pen-Ben Oilfield Ser 6.12V: Rainier Inc 3.37% Royal Trust 27.25 Sandwell Teledyne Trimac West Cdn Seed Westfield Min Weston A Pfd White Yukon PIPE LINE STOCKS Alta Gas A Alta Gas Pfd Alta Nat Gas Inland Nat Gas Gaz Metro Gaz Metro A Pfd N and C Gas N and C B Pfd Pacific Trans Trans-Can Pipe Tr-Can Pipe A Pfd Tr-Can Pipe B Pfd Tr-Can Pipe War WC Trans WC Trans Wts CALGARY Acroll Barons Oils North Continental West Warner VANCOUVER MINES Atlas Explor Bath Norse Dankoe Davenport Dolly Varden Equitoria! Res Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Colum Brewing Key Industries Wardair OILS August Pete Plains Pete Ponderay Explor Stamp Intl Res MUTUAL FUNDS All Cdn Compound All Cdn Dividend All Cdn Ventures Amer Grow F AGF Special Cdn Invest F Collect Mutual Common Inter Com Leverage Corn Venture Corp investors Corp Invest S F Dreyfus F US Grt Pacific Grpd Income Shares Grow Equity Invest Grow F Invest Mutual Mutual Accum Mutual Grow F Nat Resources NW Cdn NW Growth Principal Grow Provident Mutual Royfund Temple Growth United Accum Univer Savings Univest Vanguard 5.75 4.90 6.75 3.60 1.37 8.75 13.75 63.00 19.25 9.75 6.37V, 64.00 12.75 24.50 10.62% 34.00 63.00 36.75 5.00 23.75 3.80 .70 .12 .02% .31 .34 1.30 3.25 .85 .46 .17 8.60 3.25 .08% .13 2.22 8.75 2.90 1.95 .48 .18 1.12 .75 6.59 7.16 6.90 7.50 3.52 3.83 4.77 5.24 2.53 5.07 5.56 5.21 5.72 14.07 3.29 5.94 6.48 7.12 4.94 5.43 11.06 12.12 4.65 5.09 3.11 3.43 7.33 8.05 12.33 13.48 5.85 6.39 6.12 6.73 3.24 3.57 4.93 5.42 5.42 5.96 4.66 5.12 4.54 4.98 7.52 8.23 6.82 7.10 7.61 8.34 4.71 5.18 8.20 9.03 5.80 6.38 6.23 6.82 Toronto industrials (Supplied by Richardson Securities of 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 Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex Rrst Maritimes Giant Y.K. Granduc Hollinger Hudson Bay Hydra Ex. Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F. Martin McNeery Maclntyre Meta Midrim Intern Mogul Nu West Homes New Atnona New Calumet Noranda Northgate Nortex Pine Point Placer Oev. Pax Exp. Quebec Man Rayrock Radiore Rio Atgom Roman Corp. Shemfl Gordon Steep Sunningdale TeV Corp. A United Canso Western Mmes WH Copper Mmes WrigM Hargreaves Wfflroy Windfall Zenmac Abltibl Alesn Aigoma Steel Alco Ind Agra and Bell Tel Srascan A Bear INDUSTRIALS BCTel -14 Burns 1.35 BC Forest 2.05 BC Sugar A 2.20 Bow Valley Ind -66 cable 14.12V4 CAE Ind 1.96 Carling O'Keefe 5-50 Chemcell 8.37% Cdn Cellulose 3-75 cal Power 10.50 coron Credit 1-20 CWN Gas Pfd 1-15 Cdn Industries 5.50 Cdn Marconi 3-15 Cdn Vickers -26 Chrysler 2.10 CPR 6.00 Cominco 7.87% cons Bathurst 51.50 cons Gas Dist Seagrams 154.00 Dom Bridge 1-50 Domtar 8-00 Dom Textile 3.15 Dom Stores 64.00 Dome Pete -31 Dofasco -71 Glendale Mobile 18.37% Grt Cdn Oil 2.75 General Motors 39.75 Qrt Lakes Paper 25.75 Gulf Oil Cdn Greyhound Lines 4.05 Hawker Sid 2-03 Hiram Walker -24 Huron Erie 14.25 Imperial Oil -37 Imasca 38.25 mt Nickel 5-75 mt Pipe 15 Inv Grp A 2-75 iu Inll 2.32 indust Accept .52 Kaps 57.00 Kelly Douglas A -22% Laurentide 19 Loeb 10.50 Loblaw A 11.37% Metropolitan -28 Massey Ferg -36 McMillan Bloed 52.75 Moore Corp 7.50 Moteons A -31% Motsons B Nachurs 23.00 North Cent 1.50 Power Corp 25 Price Co 1.17 peyto -33 Rothmans 35.37% Shell 13.62% Simpsons 14.00 Simp Sears 2-29 steel Canada 8-25 Selkirk A 5.25 Texaco -29 Traders Grp A Zv.5v Trans Mtn Pipe 3.15 Trans Can Pjpe 3.40 union Carbide 220 Union Gas 158 Union Ofl -15 united Siscoe 5.00 versatile Mfg .11 Westeei Westorts 13.87% Woodwards A 34-50 west Cdn Seed 25.7S zenith Elec 18.25 BANKS 6.62% Monlreal nova Scotia 44.12% 16.87% Tororto-Dom 55.12% 14.25 19.50 21.62% 27.25 16.12% 10.62% 3.70 5.75 7.25 2.35 10.00 19.00 3.55 17.00 18.62% 16.62% 32.00 27.75 17.87% 45.50 42.50 25.87% 10.37% 14.62% 42.12% 33.25 7.00 9.50 50.50 24.50 35.00 17.50 6.50 53.00 28.87% 39.25 30.37% 38.75 21.00 9.00 19.50 19.75 4.15 5.12% 1150 3.85 650 19.12% 30.25 52.00 22.37% 22.12% 12.75 11.87H 15.25 13.25 19.37% 8.75 12.00 34.12% 13.75 4850 16.50 1655 34.00 1747% 10.12% 13.12% 9.12% 825 22.12% 2350 22.87% 3.60 2.60 20.62% 40.00 38.50 39.62% New York by Richardm Securities of Caudal Stock prices up sharply in active market trading TORONTO (CP) Prices on the Toronto stock market were up sharply in active mid- morning trading today. The industrial index, consid- ered the main indicator of market trend, rose .98 to 225.57 and western oils 1.26 to 266.05. Golds fell 3.03 to 491.27 and base metals 1.49 to 103.12. Volume by 11 a.m. was 1.14 million shares compared with 1.26 million at the same time Tuesday. VANCOUVER (CP) Prices were down in light trading on the Vancouver Stock Exchange Tuesday. Volume at the close was shares. In the industrials, MacMillan Bloedel was unchanged at on shares. Jolly Jumper was down .10 at on shares. Newmark Resources was up .03 at on shares. Mercuria was up .03 at .45 on shares. Four Seasons was unchanged at .95 and International Centuria was unchanged at .24. In the mines. Cutlass was unchanged at on shares. Cutlass EXP Warrants were unchanged at .45 on a volume of Arcadia was down .03 at .67 on shares. Anglo Bomar was up .09 at .35 on shares. Consolidated Fortune Channels Winnipeg grain WINNIPEG (CP) The futures market continued to turn sour in generally light trade today on the Winnipeg Commodity Exchange. Rapeseed was active, but prices were down up to the 20-cent-a-bushel trading limit. Rye reversed its role of the last several days as the only active future. Prices were about five cents lower than Tuesday's close. Flax prices were weak and the commodity is attracting only local trade, with exporters remaining on the sidelines. Tuesday's volume of trade was bushels of flax, Of rapeseed and 1.844.000 of rye. Mid-session prices: Flax: May 12 lower 11.45; July 11 lower 11.10A; Oct. 20 lower 10.23A; Nov. 7 lower 10.07A. Rapeseed Vancouver: March 20 lower 7.40A; June lO'A lower 6.98A; Sept. 13% lower 6.87VzA; Nov. not open. Rapeseed Thunder Bay: May 18 lower 6.94; July 14 lower 6.70A; Oct. unchanged 6.77A; Nov. not open. Rye: May 5% lower July 5 lower 3.31A; Oct. unchanged 3.28A; Dec. not open. High Low Close Flax May 1167 1156 1157 Jly 1130 1115 1121 Oct 1053 Nov 1014 Rapeseed Vancouver Mar 763 760 760 Jun 725% 708V4 708V4 Sep 708 703 703 Nov 652 640 640 Rapeseed Thunder Bay May 725 712 712 Jly 690 684 684 Oct 677 Nov 638 Rye May 353% 343% 345 Jly 346 335 336 Oct 328 Dec 307 Arm. Anaconda Bern Sleet Cnrysfer Comsat Ouporrt General Motors Qnff MI Harvester Kenri Copper Montgomery ward Sears Exxon Texas Got Texas Co. Wit Corporation 52.87% WoolwofTh 1812% 2837% Westlnghouse Dec 2400 3500 US Steel 4362% 19.25 Gen. Tel Elec 2587% 37.12% TORONTO AVERAGES 165.50 20 industrials 225.79 up 1.20 51.87% 20 Golds 491.10 down 3.20 10 Base Metals 102.S3 down 1.78 28.1214 15 Western Oils up 1.03 4087% Volume 24 12% NEW YORK AVERAGES 86.00 20 mousJrtaOs 875 39 up 86.62% 20 Rate 197.38 down -23 35.37% 15 Utfllttes 93.46 down .06 28.75 65 Slocks up .43 14.25 Volume Advances outnumbered de- clines 187 to 144 with 231 issues unchanged. Beverage, steel, paper and forest and real estate stocks were among sectors of the market to advance while construction and material, trust and loan, communication and food processing issues were lower. Home Oil A rose 1% to Vz, Doman Industries to IU International to Distillers Corp. Vz to Market trends was up at .44% and Northair was unchanged at In the oils. Payette River was unchanged at .59 on shares. Cop- Ex was down .03 at .47 on shares. Seneca Developments was down .03 at on shares. Greenland was down Rand Resources was up ,01 at and August Petroleum was up .01 at .48. NEW YORK (AP) The stock market moved into a holding pattern today after Tuesday's steep climb. The noon Dow Jones average was down 1.25 at 871.17, but advancing issues held a moderate lead over declines on the New York Stock Exchange. Analysts said investors appeared to be pausing for another look at energy and economic prospects after Tues- day's rally. That was attributed to spreading hope for an end in the near future to the Arab oil embargo. Redman Industries, a mobile home maker, was the most active stock, unchanged at Other Big Board issues on the active list included several of the mobile home, motel and recreation industry stocks which had gained sharply in Tuesday's trading amid the hope for increased availability of oil. Howard Johnson was up to and Winnebago to Among chemical stocks, which also gained broadly Tuesday, Allied Chemical was up at and Monsanto V> to Du Pont, however, was down at The NYSE's noon index of all its listed stocks was down .09 at 52.08. Among Canadian issues. Dome Mines was up Vi to Canadian Pacific to V, and Seagrams to Mclntyre slipped Vt to and Massey-Ferguson to Livestock Chicago markets CHICAGO (AP) Liquidation of the principal commodity futures expanded Tuesday on major exchanges in the United States. There again were limit declines and only cotton futures of the well traded commodities closed on a strong tone. Silver, copper and cocoa prices fell to limits for the day, and wool, coffee and orange juice futures also were lower. Cotton gained up to a bale. On the Board of Trade, wheat, corn, oats, and soybean oil futures all fell UK limit allowed for one session. Wheat was down 20 cents a bushel, corn 10 cents, oats 6 and oil 100 points. Soybean fell 19 cents. 1 cent short of the bottom and soybean meal lost some a ton. Iced broilers fell nearly 2 cents. Live hogs and pork bellies fell, with the latter posting a limit 150 point drop on the Chicago Mercantile Exchange- Live cattle and shell egg prices were mixed. Gold fell back in London and when domestic markets opened her prices were generally lower. Commission house and commercial selling was fairly active in the major commodities, then baying dried up and prices gave way under new selling. Grain dose: Wheat: Mar 5.82: May 5.57: Jul 5.15: Sep Dec Corn: Mar May 3.10'A; Jul Sep Dec Mar 2.92 Oats: Mar 1.44: May Jul 1.55: Sep 1.58; Dec MONTREAL A to Among speculative issues, Aldona Mines rose three cents to 79 cents on a volume of shares traded. Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Black Photo Corp., class A, 8 cents; class B, 6 8-10 cents: both payable March 29, record March 13. Metropolitan Store Ltd., 6Viper-cent pfd 1961 series, 65 cents, semi-annual; pfd. 1967 series. 65 cents; semi- annual: both pyable May 1, record March 30. Provigo Inc., cents, April 3, record March 15. United Corp. Ltd., class B. 4 cents, special. March 29. record March 14. Drummond, McCall and Co. Ltd., class A, 18 cents; class B, 15.3 cents: both payable March 25, record March 11. Eastern Provincial Ltd., 5 cents. April 1, record March 15. Economic Investment Trust Ltd., 10 cents, March 29, record March 15. Farmers and Merchants Trust Co. Ltd., 5 cents, increase of 1 cent, March 29, record March 15. Husky Oil Ltd., 15 cents, semi- annual. May 31, record May 1. Imasco Ltd., 25 cents, increase of 2Vi cents; 6-per-cent pfd.. 14.6 cents, semi-annual: both payable March 29, record March 12. Maple Leaf Mills Ltd., 35 cents, increase of 10 cents; pfd. series B both payable April 1, record March 15. St. Joe Minerals Corp., 40 cents, March 21, record March 8. Hog prices EDMONTON Average prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board. Tuesday prices in brackets: Edmonton: 42.80 Calgary: 42.80 (42 Red Deer: 42.75 Grande Prairie: Nil Lloydminster: Nil Fairview: Nil Lethbridge: Nil Hogs sold to II a.m. 86. total Tuesday. 7.485. average 43.13. Sows average 31.70. Mstals LONDON (AP) Cosing metals bid-ask in pounds sterling a metric ton: silver in pence a troy ounce: Copper-Spot 1.055-1.057; futures 1.013-1.014 Tie-Spot futures 3.485- 3.490 Lead-Spot 292-294: futures 299-301 Znc-Spot 655460; futures SOver-Spot 212.5-213.5; 3 months 222.5-223 MONTREAL