Lethbridge Herald, The (Newspaper) - March 25, 1974, Lethbridge, Alberta
TSE prices dip in light trade Monday, March 26, 1974-THE LETHBRIOQE HERALD The Herald Business TORONTO (CP) Prices on the Toronto stock market were moderately lower in light midmorning trading today. The industrial index, consid- ered the main indicator of market trend, was off .38 to 220.21, base metals .08 to 106.30 and western oils 1.00 to 257.51. Golds rose 3.18 to 578.17. Volume by 11 a.m. was 000 shares, down from 1.14 million at the same time Friday. Declines outnumbered ad- vances 157 to 100 with 188 issues unchanged. Oil refining, communication, chemical and industrial mining stocks were among sectors of the market to decline while construction and material, pipeline, real estate and trust and loan issues were higher. Falconbridge Nickel fell IVz to Magnasonic 1V4 to Alcan IV. to Tarn- blyn 1 to and Dome Pete 1 to Royal Trust rose to and Moore to Roman Corp. was off Vz to Oickenson to and Mclntyre to Pamour was up to and Bruns- wick to Asamera slipped to Pan Ocean to and Total Pete V4 to Stocks Miscellaneous Market trends MONTREAL (CP) Prices were generally lower in moderate trading on the Montreal Stock Exchange today. Volume at 11 a.m.. was 598.440 shares..compared with at the same time Friday. The industrial index fell 1.01 to 243.42. the composite .81 to 228.67; utilities .71 to 146.56 and papers .69 to 138.55 while banks rose .42 to 284.98. Falconbridge Nickel fell 1 to Alcan Aluminum to Vj. Dome Petroleum to and Dominion Lime to while Microsystems International rose a'8 to Among speculative issues. Massval Mines rose seven cents to 78 'cents on a- volume of 77.300 shares traded. VANCOUVER (CP) Prices were mixed in light trading'on the Vancouver Stock Exchange Friday. Total volume at the close was shares. In the industrials, jolly Jumper led trading, unchanged at on shares. Block Bros, was up .05 at on shares. Canterra was unchanged at .25 on shares. Key Industries was down .02 at .16 on 3.000 shares. Newmark resources was down .01 at and Daon Developments was down .50 at In the mines. Alice Lake was up .05 at .30 on 47.000 shares. Consolidated Fortune Channel was up one-half cent at on shares Consolidated Coast silver was up .01 at .42 on shares. Northair was down .05 at on" 36.750 shares. Brendon Resources was up .01 at .46 and Laura Industries was down .01 at .15. In the oils. Davenport was up .11 at .81 on shares. Payette River was down .02 at .35 on shares. Payette Warrants A were down .01 Vi at on 14.000 Princess Ventures was unchanged at .20 on shares. Seneca Developments was down .10 at and Chapparal was unchanged at .68. NEW YORK (AP) The recent upswing in short-term interest rates kept the stock market off balance today, nudging prices lower in quiet trading. The noon Dow Jones average was off '6.10 at 872.03 and losers outstripped gainers by better than 2-to-l on the New York Stock Exchange. Analysts say rising interest rates represent generally a double blow to stock they tend to inhibit economic growth, and they increase the attractiveness of fixed-income investments in comparison with stocks. Bucyrus-Erie was the most-active issue, down '4 at in trading that included blocks of and 29.800 shares at that price. On the American Stock Exchange, the market-value index was down .56 at 98.48. General Motors was off at Ford i at and Chrvsler to American Cyanamid, which projected an earnings increase of at least 15 per cent this quarter, rose Vt to i. Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Monday at the'Calgary public stockyards totalled 200 head, all' slaughter cattle. Trade was dull on steersiand moderately active on cows. Slaughter steers sold to a narrow demand at fully steady prices. Two loads of Holstein steers sold at Winnipeg grain WINNIPEG (CP) Prices slumped at mid-session today on the Winnipeg Commodity Exchange as trading remained light, with few actual sales. Rapeseed dropped -the 20-cent limit in one month at the Vancouver position and in two months at Thunder Bay. Flax was down as much as 20 cents. Declines in rye were less severe, ranging from cents to unchanged. The only sales recorded were in May and July months of Vancouver rapeseed. Friday's volume of trade was 110.000 bushels of flax. 1.373.000 of rapeseed and 1.211.000 of rye MID-SESSION PRICES: Flax: May 17 lower 11.16A: July 20 lower 10.60A: Oct. 13 lower 10.04.4: Nov. 5 lower 9.55A Rapeseed Vancouver: March 20 lower 7 I2'zA: June 16 lower 6.-49A: Sept. IS'i lower 6.14'jA. Nov. 16 lower 6.02A: Jan. .13 lower 5.96A. Rapeseed Thunder Bay: May 20 lower 6 July 20 lower'6.23: Oct. 4 lower G.22A: Nov. 17lower6.01 A- Dec 5 lower 6.05A. Rye- MayS3. JulyS'i lower 2 84A Oct. unchanged 274A. Dec. I lower 2.67A. There were insufficient heifers sold early to establish quotations however, a few sold Quotations for steers and heifers included the beef quality premium. Cows were mostly in the lower grades, selling steady. .Steers. Al. Cows. Dl. D2: 36 to 37.50. D3: 34 to 35.50. to 33.50. No replacement cattle were on offer. Hogs fob to 11 a.m.: 42.60. Preliminary slaughter figures for week ended March 22 Alberta hogs 37.256. beef 23.107: Canada hogs 197.867, beef 60.402. WESTERN OILS AND MINES Anon Mines Albany Oil Alminex Asamera Ashland Oi! Alta East Gas BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Chiettan Cdn Super Dome Pete Dynasty Fort Reliance Giant Mascot Gibraltar Mines Granisle Gt Plains Gt Cdn Oil S Lochiel Ex Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger -Scurry -Rain Seibens Spooner Total Pete Ulster United Canso West Pete West Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar Pfd Block Bros Cdn Pac Inv A Pfd Com Cap Corp Carling O'Keefe A Pfd Carting O'Keefe B Pfd Crestbrook Ind' Crowsnest Ind Falcon Copper F and M Trust Genstar Global Com Unit Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell C Pfd Husky Oil Husky Oil B Pfd Husky D War Husky E War Hys of Canada Inter Prov Pipe Inter Prov Steel Kaiser Res Kaiser Res Wts Loblaw C Pfd Magnasonics Pacific Pete Pacific West Air Pe-Ben Oilfield Serv Rainier Inc .___ Royal Trust Vancouver, Calgary, Montreal Midland Dougherty Limited 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 B Pfd Tr-Can Pipe War WC Trans WC Trans Wts CALGARY Acroll Barons Oils N. .Continental Western Warner VANCOUVER MINES Atlas Explorations Bathurst Norsemines Dankoe Davenport Dolly Varden Equitorial Res. Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Columbia Brewing Key Industries Wardair OILS August Pete Plains Pete Ponderay Explor Stampede Int'l Res MUTUAL FUNDS All Cdn Compound All Cdn Dividend All Cdn Ventures Amer Growth Fund AGF Special Cdn. Invest Fund Collective Mut Cmnwlth Inter Cmnwlth Leverage Cmnwlth Ventures Corp Investors Corp Invest St Fd Dreyfus Fd US Great Pacific Grouped In Shares Growth Equiety Invest Growth Fund Investors Mutual Mutual Accum Mut Growth Fund Nat. Resources N.W. Cdn. N.W. Growth Principal Growth Provident Mutual Royfund Templeton Growth United Accum Universal Savings Univest Vanguard 7.50 .55 7.50 12.00 10.87% 7.12% 15.25 5.12% 4.85 3.25 6.62% 10.00 .20 9.37% 55.50 39.37% 10.50 .27 1.90 11.37% 9.50 28.87% 10.37% 2.82 1.45 .85 5.00 17.00 12.75 13.50 1.81 .37 .43 .55 36.12V4 22.75 16.75 .36 9.25 1.15 18.12V4 6.00 7.25 11.12% 29.25 13.00 3.65 34.62% 2.50 23.00 28.12% 9.12% 26.00 13.12% 63.25 19.25 9.62% 6.37% 65.00 12.50 23.50 10.62% 31.37% 58.50 38.00 4.25 23.00 4.10 .66 .09% .02 .40 .30 1.29 3.25 .71 .38 .13 8.45 3.45 .09 .12 2.35 8.50 2.70 .15 1.95 .48 .19 1.05 .78 B.C. mining industry control in gov't hands 5.75 19.50 3100 52.37% 48.00 19.37% 43.25 50.50 74.00 21.50 40.25 5.50 9.25 3.80 6.75 16.50 3.45 1.50 28.00 4.00 31.75 8.75 5.75- 3.75 27.50 7.12 7.46 3.77 5.14 5.52 5.75 6.55 6.87 3.47 4.6S 2.47 5.04 5.24 13.81 3.28 4.97 6.41 7.04 4.81 5.29 10.80 11.84 4.73 5.17 3.11 3.44 7.58 8.33 12.33 13.48 5.85 6.39 6.15 6.77 3.19 3.51 4.96 5.45 5.55 6.10 4.74 5.21 4.55 5.00 7.54 8.25 6.91 7.20 7.75 8.49 4.60 5.05 8.03 5.84 6.41 6.20 6.79 KAMLOOPS, B. C. (CP) For more than 100 years in British Columbia the mining industry was king and dictated to the provincial government, but now the government is calling the shots, Mines Minister Leo Nimsick said Saturday. He told 60 delegates to the first annual B. C. Mining Conference, organized by the United Steelworkers of America, that he doesn't blame mining companies for worrying about the propsed Mineral Royalties Act. "It not only means millions of dollars to the industry but an entirely new concept across Canada. "To think that we would dare to challenge the empire of the mining industry is the question I am sure they are worried said Mr. Nimsick as he defended the controversial Bill 31. The new act, introduced last month, provides for a basic five-per-cent annual tax on the net value of mineral production in the province starting in 1975. This year producers will pay a 2Mt per cent royalty. The bill also allows the New Democratic Party government to take advantage of escalating world prices by permitting-the cabinet to set a designated value for minerals based on a five-year average. If the price in a year increases Toronto industrials (Supplied by Richardson Securities of Canada) Acme Advocate Asb. Bralorne Broulan Bethlehem Bovis MINES EDMONTON (CP) Average prices to 11 a.m. Monday provided by the Alberta Hog Producers Marketing Board. Friday's prices in brackets: Edmonton: 42.85 Calgary: 42.60 Red Deer: 42.55 Grande Prairie: Nil Lloydminster: Nil Hogs sold to- 11 a.m. 2.360. total Friday 4.753. average 42.90. Sows average 30.70. LONDON (API Closing metals bid-a.sk in-pounds sterling a metric ton: silver in pence a troy ounce: 1.225-1.226: futures 1.145-1.146 Tin-Spot futures 3.400- .1.405 Lead-Spot 305-306: futures 313-313.5 705-710: futures 650-652 Silver-Spot 229-229: 3 months 239- 2395 Ciirranclas MONTREAL (CP) Monday's mid- day foreign exchange selling rates supplied by the Bank of Montreal: Australia dollar 2.46 Bermuda dollar 1.01 China rcnminbi .4930 Denmark kroner .1615 France franc .2085 Germany mark 3810 Italy lira 001600 .Japan yen 003540 Mexico peso 0800 Spam peseta 0170 Switzerland franc 3230 Tnitcd Slates dollar I'nitcd pound 2 31 t'SS.R ruWc 12523 Quotations in Canadians funds. MONTREAL (CPi U.S. dollar in terms of Canadian funds at noon today down 1-50 at JQ.97 MO. Pound sterling was up I 17-20 at 69-100 In New. York, the Canadian dollar was up 1-50 at 49-50. Pound Merlins was up 119-20at Gold prices Pacific Gas Transmission Co, said today it has filed with the Federal Power Commission a plan to construct a 618-mile. million natural gas pipeline from the Canadian border through Idaho. Washington and Oregon to California. A spokesman said the 42- inch pipeline would parallel an existing 36-inch line and would be fed by Alaskan north slope and Canadian Mackenzie delta natural gas as part of the Trans-Canada Pipeline system proposed by the Arctic gas consortium of 27 firms The over-all project, however, probably will not be immediately pushed to cmnpletion unless Arctic Gas ran obtain rights to Alaskan Natural Gas. That energy source also is being sought by El Paso Natural Gas Co.