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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - March 24, 1971, Lethbridge, Alberta 22 - THE lETHBRlDGE HERALD - Wednesday, March 24, 1971 Krsi\i:ss Market lower in light trade TORONTO (OP) - The Toronto stock market was mixed to fractionally lower in light mid-moming b-ading today. On index, industrials were down .16 to 183.61. Golds rose .71 to 191.18, base metals .18 to 96.02 and western oils 1.14 to 207.95. Volume by 11 am. was 624,000 shares, down from 662,000 at the same time Tuesday. Gains edged losses 116 to 113 with 185 issues unchanged. Grain prices Winnipeg Grain WINNIPEG (CP) - A tight situation in March Vancouver rapeseed pushed the future up nine cents above the previous close level on the open of the Winnipeg Grain Exchange today. Barley, flax and rapeseed had good buying by shippers. At the open, flax was % higher to Vs higher, May 2.55%; rapsseed Vancouver nine to IVi higher, March 3.46; rapeseed Thunder Bay 2'A higher, April 2.93%B; Oats V4 lower, May 84y4; barley % higher. May 1.31%; rye Vz higher, May 1.16 ViB. Opening prices: Flax: May % higher 2.55%; July % higher 2.53%; Oct. % higher 2.56%;.Nov, Vs higher 2.54%. Rapeseed Vancouver: March 9 higher 3.46; May 2 higher 2.98%; July \Vi higher 2.88%'; Sep. not open. Rapeseed Thunder Bay: April 2V4. higher 2.98%B; June, Oct. and Dec. not open. Oats: May Vi lower 84y4; July, Oct. and Dec. not open. Barley: May % higher 1.31%; July, Oct. and Dec. not open. Rye: May % higher l.ieiAB; July, Oct, and Dec. not open. p'rices Tuesday for class two wheat for export to countries outside IGA: 1 nor 1.80%; 2 1.78%; 3 1.74%; 4 1.71%; 1 Durum 1.791/4; 2 1.76%; 3 1.67%; 4 1.63; IGA prices: 1 Nor 1.80%; 2 1.78%; 3 1.67%; 4 1.63; 1 Durum 1.79%; 2 l.76y4; 3 1.67%: 4 1.63. Grain quotes Tuesday (basis Lakehead): High Low Close Flax May 255 254y4 255 Jly 253% 253ys 253% Oct 256% 255% 256% Nov - - 254% Rapeseed Vancouver Mar 339 328% May 298% 294 Jly 289% 286% Sep - - Rapeseed Thunder Bay 296% 293V4 263 263 Apr Jun Oct Dec Dec Oats May Jly ~ Oct - Dec - Barley May 13iy4 Jly - Oct Dec Rye May Jly Oct Dec 293y4 290 262% 262% &1% 83% 130% 122 122 115% 109% 115 109% 337 296% 287yi 276 f 296% 293y4 272% 262 263 84% 83% 82 85 i3iy4 123% 122 122% 115% 109% 107% no ART DIETRICH DENTURE CLINIC Certified Dental Mechanic Metropolitan BIdg. 328-4095 Asbestos was down y4 to $36%, Hudson's Bay Oil and Gas y4 to $44%, Rank y4 to $19%, Inco y4 to $45y4, Sherritt % to $20% and Kerr-Addison 15 cents to $9.30. Home A was up 1% to 25% and C^gnus B y4 to $7. Home B was unchanged at $27% and Cygnus A at $5. Energy Minister J. J. Greene said Tuesday the federal government expects that Home Oil Co. Ltd. will be sold to a Canadian company. The federal government has been negotiating with Home President R. A. Brown Jr. for control of the company. Mr. Brown controls Home through Clygnus Corp. of Calgary. Mr. Greene said Mr. Brown is "confident he can put together a (Canadian deal." PAPERS UP MONTREAL (CP) - Papers continued to move ahead while prices in most sectors dropped in sluggish trading on the Montreal stock market today. On index, industrials were up .05 to 184.20 and papers gained .44 to 88.00. Utilities were off .25 to 155.41, banks .49 to 193.27 aind the composite .06 to 180.20. Falconbridge was up $3 to $144, MacMiUan Bloedel % to $26 and Northern- and Central Gas % to $16%. Up y4 each were Scott-LaSaUe Ltd. at $25y4, New Brunswick Telephone ait $14%, Dome Petroleum at $89%, Seagrams at $5. and CcnsQlidated Textiles at $16. Quebec Telephone was off % to $13y4, International Utilities % to $43y4 and International Nickel % to $25. Down y4 each were QSP Ltd. at $14%, Montreal Trust at $14%, Imasco at $17y4, Interpro-vmcial Pipe Line at $28, Crush International at $187, Dominion Glass at $14y4 and Algoma Steel at $15y4. SHARP DIP NEW YORK (AP) - The stock market slid downward in moderatiely active trade today. The setback was on a sharper scale than in the three previous sessions. Analysts said profit-taking continued to weigh on the market, and that investors were concerned tbsifc the U.S. economy was not making a stronger recovery. The noon Dow Jones average of 30 industrials was off 5.96 to 902.93. Intematiooal Nickel lost % at $44% and Hudson Bay Mining y4 at $23y4. Distillers Seagrams advanced % to $55%. Walker-Grcoderham was up V4 at $39. On the American Stock Exchange, Scurry Rainbow Oil was up % at $24%. Off y4 were Molybdenite Canada and Preston, at $3.38 and $9%, respectively. Asamera Oil was up % to $2oy4. Ho g prices EDMONTON (CP) - Prices to 11 a.m. provided by tJie Alberta Hog Producers Marketing Board: Edmonton: Quoted 19.75 to 19.80, selling 19.80. Average Tuesday 19.62. Calgary: Quoted' 20.05 to 20.15, selling 20.15. Average Tuesday 19.82. Red beer: Quoted 20.05 to 20.15, selling 20.05. Average Tuesday 19.59. Lethbridge: Average Tuesday 19.79. Llcydminster: Average Tues-j day 19.34. Total hogs sold 494. Total sold Tuesday 9,147. Provincial average 19.63. Sows at all points 13.09. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, Roadtiouse and McCuaig) LAST BID OR SALB (11:00 a.m. Quotes> (11:00 a.m. (auoies) (11:00 a.m. Ouotcsl WESTERN OILS Alta East Gas Almlnex Asamera B. P. Oil Can Southern Cdn Exp Gas Ashland Grid Cdn Home. Cdn Home Pfd Cdn Ind Gas Cdn Long Is Cdn Superior Cent Del Rio Charter Chleftan Dome Pete Dynam Pete Total Pete Great Plains Lochlel Mill city New Cont North Cdn Oil Numac Permo Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Spooner West Decalta MISCELLANEOUS INDUSTRIALS Hugh Rus Pfd ^.75 Husky on 6.15 Husky Oil B SO.IJ'A Husky on War 6.45 Inter Pro Pipe S.OS int Util Pfd 4.30 Inter Steel 10.87 Jeff Lake 7.90 Joufel 15.00 Kaiser Res 10.75 Kam Kolla .73 Lake Ont Pt 38.25 MGF Manage 12.75 Mentor 6.30 Newconex 7.75 Pac Pete 89.75 Rank Organ 1.05 Selkirk Hold 6.80 Shell Can 33.50 Shell Inv Pfd 1.25 Shell Inv Wts l.�0 Sicks Rainier .75 West Cdn Sd 7.7S White and Yuk 7.50 CALGARY .64 Acroll 1.34 Anac Pete ,70 Barons Oil 1.30 North Cont .58 Plains Pete 14.00 West Warner 24.50 Madison 1.6B Rexdale 6.35 20.87y2 Cmnw nter 12.00 14.2S I7.62'/j Cmnw Lev 3.36 3.68 44.00 Corp Invest 5.51 6.02 8.60 Corp In St F 5.02 5.47 13.37V2 Dreyfus F U.S. 12.44 13.63 48.62yi Gr (Equity 6.20 6.61 8.25 11.75 .82 6.50 1.10 2.60 1.90 1.15 5.55 29.50 19.25 12.25 34.75 35.00 14.75 Shares 3.39 3.73 Gr 11.09 12.13 Mutual 5.37 5. f, I Ac Mutual Gr F Nat Res N W Fin N W Gr Principal Gr Royfund United Ac Universal Sav Temp Gr 5.35 5.88 5.30 5.83 7.42 B.11 4.55 5.00 .'.40 5.93 4.20 4.61 5.57 5.74 4.81 5.29 7.30 8.02 J5.34 27.72 VANCOUVER Anuk 3.37Vi Arctic Mining 3 85 Atlas Explor 15!62'/j Belh Copper ' " Block Bros Brenda B.C. Sugar B.C. Sugar Pfd Capt Inter Churchill Copper �11 Col Cellulose Coronation Credit 3' Crestbrook F Croyden .85 .41 - f. .o6Vi r .02 Agra Atco Indus Aquatalne Brit Nlld Corp Cdn Brew A Cdn Brew B Cdn Hyd Carb Cdn Pac Inv CPR Pfd Crowsnest Ind Cygnus A Cygnus B Cum Prop Gt Cdn on Sds Gt Cdn on Sds Home on A Home Oil B Home and Pit Hud Bay Co Hud Bay Oil Hud Bay on PIPELINE STOCKS Dolly Varden Alia Gas Tr L A Sl.lZVa Oyhasty Alta Gas Tr L Pfd 75.00 Fort Reliance 8.25 Alta Nat Gas 24.50 Giant Mascot 7.871/2 Cdn W Nat Gas 16.50 Granlsle 25.12Va inland Nat Gas 13.00 Key Indust 5 25 N and C 16.50 Growers B ai'75 N and C B Pfd 31.62yj Bathurst 3/50 Pacific Gas Tr 14.00 Hys ?7 25 Gas Metro 5.50  � liji Gas Metro Pfd A 63.50 OMiATr Cdn P 33.00 ojia'Tr Cdn P Pfd 44.00 2''"' Tr Cdn P Pfd A 61.75 Tr Cdn P War 10.50 WC Tr 24.00 Western Pacific 4.75 MUTUAL FUNDS AGF Special 2.75 All Cdn Com 7.94 8.( 4.95 7.00 17.00 6.00 100.00 25.75 26.12V2 Xii Cdii' Dlv'l'd 2.05 All Cdn Vent 17.87'/2 Amr Gr F 44.50 Cdn In Fund 54.62y2 Col Mutual Interior Brew Jericho Lornex Lytfon Inerals New Cronin New Imp Mines Okanagan Hellcop Primer Pyramid Silver Standard Texmont Trofan 9.04 9.61 3.57 3.90 Western Mines S.56 6.10 WC Res 4.54 4.98 Western Explor 6.41 7.04 Utica .26y2 .13 .56 16.7S 4.45 8.10 17.00 15.50 6.87'A 1.56 5.50 t.40 ind 6.50 .21 .35 5.45 .56 4.55 ii.87y2 25 3.40 1.23 2.30 4.80 .14y3 8.00 J. 02 .09 1.31 4.75 .I6'/2 35 1.66 .74 .28 3.65 .13 .23 .63 Toronto mines, industrials Supplied by Richardson Securities of Canada LAST BID OR SALE (11:00 a.m. Quotes) MINES (11:00 a.m. Quutes) Acme Advocate Asb. Akaltcho Area Mines Bralorne Black Bay Broulan Bethlehem Brunswick Canada Tung. Casslar Central Pat. Chlmo Conwest Cons. Rambler Coin Lake Cochenour Cralgmont DIckensIn Mines Denlson Mines Deer Horn D'Eldona Dome Mines Donalda Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Marltlmes Giant Y.K. Bovis Granduc Headway R.L. Holllnger Hudson Bay M-S Hydra Ex. Highland Bell Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Leitch Langis Silver Madsen R.L. Malartic G.F. Martin McNeely Maybrun Maclntyre Mela Mldrlm Intern Mogul New Athona New Catumet New Imperial Noranda .06 2.30 .53 l.iS2 1.86 Northgate Opemlska Oslsko Patino Pine Point Placer Dev. .061/1 P.C. Exp. , .25 Quebec Man 16.75 Rayrock 6.15 Radlore 2.69 Rio Algom 23.62y2 Roman Corp. 2.57 Sllverflejds 1.45 Sherritt Gordon 10.62y2 Silver Miller 2.34 Steep Rock Slscoe Tek Corp. Texmont Upper Canada Western Mines Wright Har. Wlllroy Windfall Yellowknlfe Br. Zenmac INDUSTRIALS Abnibi Alcan Algoma Steel Atco Ind Allan Sugar Bell Tel Brazil Trac B.C. Tel 23.62'/i Burns .24 B.C. Forest B.C. Sugar CAE Ind Cdn Brew Chemcell Col Cellulose Cai Power Coron Credit C.V;.N. Gas ,,,, Cdn Indust il'/s Canada S S '; Cdn Marconi ".uy2 Comlnco �Li;? Cons Bath Cons Gas Dlst Sea "231/, Dom Bridge ,�,, Domtar Dom Textile 34.62y2 Dom Stores .16 .43 8.95 1.37 27.00 .06 .76 69.00 .16 1.15 1,05 3.65 143.50 .25 1.22 10.50 2.20 7.65 10.00 38.75 3.15 3.60 1.69 .21 9.30 .45' 37.75 3.40 1.60 6.05 .72 1.84 3.70 1.62 1.10 .13 5.40 .11 (11:00 a.ni. OuolMt 9.15 Dome Pete n.62V2 Dofasco .29 Fam Play 24.87V2 Fd of Amer 3hS7W Gt Cdn 0� 33.25 Gen Motors 1.22 Gt Lakes Pap � .IB'A Gulf on Cda 1.65 Greyhound �35 Hawker Sid 1?.50 Huron Erie '�'O Hiram' Walk .V?2, Imperial on - On offer to 11:00 a.m. 573 cattle and calves. Receipts about evenly divided between slaughter and replacement cattle, trade active. Good and choice butcher steers meeting good demand at firm prices. Good and choice butchm" heifers also meeting good demand, prices 25 cents highei'. Medium and good cows 50 cents to $1 higher with no top quality kinds on offer. Medium and good heavy feeder steers selling at strong prices. Choice steers 32.25 to 32.70; good 31 to 32; medium 28 to 30.50. Good heifers 29.25 to 29.80; good 28 to 29; medium 26.50 to 27.50. Dollar Value MONTREAL (CP) - U.S. dollar in terms of Canadian funds down 1-32 at $1.00%. Pound sterling down 1-16 at $2.43 13-16. NEW YORK (CP) - Canadian dollar up 7-32 at 99 15-32 in terms of U.S. funds. Pound sterling unchanged at $2.41 61-64. Ther.-i wei-e 156,300 deaths in Canada last year, the Dominion Bureu o� Statistics reports. CJood cows 21 to 22; medium 20 to 20.75; canners and cutters 17 to 19.50. (3ood heavy feeder steers over 900 lbs. 31 to 32.50. Butcher hogs sold Tuesday f.o.b. Lethbridge 20.15 base price. Calgary Livestock CALGARY (CP) - On offer to 11 a.m., about 1,200 head; mostly good and choice slaughter steers and heifers mbh balance of offering mixed grades of cows and a few bulls. Trade was strong and active on all classes with good local ajid out-of-province demand. Slaughter steers were steady, heifers 50 cents higher, cows generally steady to strong and bulls steady. Choice slaugliter siteei-s 32.25 to 32.70, good 30.75 to 32, medium 29 to 30.50. Choice heifers 30 to 30.60, good 28.75 to 29.75, medium 26.50 to 28.50. Good cows 21 to 21.80, medium 19.75 to 20.75, canners and cutters 18 to 19,50. Good bulls 24 to 25.25. Replacement cattle were in short supply with a few heavy, fleshy, short-keep steers weighing about 900 pounds selling steady. No stock or slaughter calves offered. Good feeder steers more than 750 pounds 30 to 32.60. Hogs base price 20.15. Credit rating lost NEW YORK (AP) - Unsecured corporate notes sold by the Chrysler Corp. and two of its subsidiaries have lost their "prime" rating becatise of the company's "unimpressive operating results." The National Credit Office, a Dun and Bradstreei: division that evaluates issuers of com-mo'Cial fMiper, withdrew Mon day its rating of the paper sold by Chrysler and its Chrysler Financial Corp. and Chrysler Credit Canada Ltd. No new rating was substituted. Eugene F. Schenk, credit off ice president, said Chrysler Oorp.'s "unimpressive operating results" during the last two years and the company's failure to post a substantial profit in the fourth quarter of 1970 was the reason the rating was withdrawn. Chrysler reported a net loss of $7.6 million for 1970 compared with a $99 million profit the pre-viojB year. Sales in both years approximated $7 billion. The profit for the last three months of 1970-when Chrysler's largest competitor, General Motors, was on strike-was $7.6 million. In recent weeks, Chrysler offi-tials have stated repeatedly that the company currently was operating in the black and expected to make a "solid profit" this year. The withdrawal of the credit rating would have no direct im-lact on the parent company, which has no commercial paper outstanding. But Chrysler Fhiancial on Monday had just over $1 billion m commercial paper outstanding with a i>eighted average maturity of 64 days. Chrysk Ocdiit Canada has about $110 million in paper outstanding. Errors hy Venezuela help Alberta^s oil sales problem EDMONTON (CP) - Alberta's chief competitor may have inadvertently helped the province rid itself of an annoying and costly problem - finding places to sell extra crude oil. For 20 years, cheaj;j oil from Venezuela has restricted Alberta crude to an area west of the Ottawa Valley and forced the province's petroleum industry to seek markets in the United States. Also, Canadian oil policy now restricts Alberta crude to market regions west of the Ottawa Valley. Intent on protecting its own, the U.S. threw up a barrier of quotas that.until recently kept Alberta crude production to less than half its capacity of two million barrels a day. A few months ago, Venezuela decided to take a bigger tax slice from its oil industry - a move that G. W. Cameron, manager of the Independent Petroleum Association' of Canada, says increases the possibility of sellii^ Alberta oil in Quebec. R. J. Frocklage, secretary-treasurer of the Canadian Petroleum Association, said the gap between the price of traditionally chaper Venezuelan offshore oil and Alberta-produced crude is rapidly dwindling. Before the tax increase, AI-btsrta crude cost $3.52 a barrel in Toronto while Venezuelan crude cost $3.35 a barrel in M