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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 28, 1972, Lethbridge, Alberta Market continues downward trend Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Dolierty, McCuaig Limited) LAST BID OK SALE a.m. Quote (1UOO a.m. Quotes) f a.m. Quoteil WESTERN OILS Hugh Resell 3650 Gr F 1 TORONTO (CP) Prices on the Toronto stock market re- sumed their downward trend in mid-morning trading after post- ing fractional advances during the opening minutes ot trading today. The industrial index dropped .06 to 108.93 and golds .17 to 176.81. Base metals were up .02 to 97.88 and western oils .50 to 225.03. Volume by 11 a.m. was s h a r e s, down from at the same time Mon- day. Advances and declines were about even, 111 to 108, with 205 issues unchanged. Beverage, communication, pipeline, steel, utility and gen- eral manufacturing stocks turned moderately lower as nine of the industrial index's 17 sub- groups moved lower. Banking, construction and materials, merchandising and paper and forest issues edged fractionally higher. Texaco dropped K to Cal- gary Power to ?25, Noranda 1.2 to Sherritt Va to Shell Canada to and Norlhgate five cents to Traders Group A was down Vi to SIGVi, Toronto Star B Vi to S50, Stclco to CP Ltd. Vi to Neonex lo and Q Broadcasting V> to Electrohome was up to Alberta Gas Trunk >i to Indal Canada to Placer to Moore 'i to and Dome Pete lo PRICES MIXED MONTREAL (CP) Prices were mixed to fractionally higher in light trading on the Montreal stock exchange today. On index, industrials gained .39 to 201.80, banks .23 to 254.37, and ihe composite .21 to 202.33. Utilities fell .42 to 163.52 while papers were off .02 to B2.R5. Combined volume on the Montreal and Canadian stock exchanges at 11 p.m. was shares, compared with at the same time Mon- day. International Utilities was up to S'lB'A, Dome Petroleum to MacMiibn Hloedel V, to Imperial Oil to (o Trans-Canada Pipe Lines Dominion Textile 'A to and Aquitaine Vi to Hollinger Mines was off to 1 -IB, Wcstburne Industries Is lo and Calgary Power AshMnd BP Oil Gas Can Scwlh Cdn Ex Gas Cdn Homcsld Cdn Ind Gas Oil Cdn Super Cdn Long Is Charier ChleMan Dome Of Plains Gt Cdn Oil LocMel Norlh Cdn Oil Pe1n ide DJA Ul' NEW YORK (AP) Some selective buying buoyed the stock market today but many investors remained on the side- lines awaiting more posilive signs of market direclion. The noon dow Jones average of 30 industrial stocks was up 2.11 at 941.83. Among Canadians, Hudson's Bay Mining advanced to W, International Nickel at and Walker Gooderham at S45V4 both gained Vt. Dome Mines declined 1 to On the American Stock Ex- change, Preston advanced 7-16 to 59 15-16. Place Gas Ponder Ranger Scurry Rain Spooner Seibens Tolal Pelt Utskr W, Dctalta West Pete MtSCELLANEOUS INDUSTRIES Anualalnfl 3J 00 Drlnco Cdn Brew A 31.50 Cdn Drew B Cdn Pacific Inv Crov.'snest Ind Cygnus A 5.S5 Husky 01 7.25 Husky on D 1742Vi Husky Oil War 1175 Inter Prov Plna i.65 Inter Prov Steel 7.BO Kaiser Res 3 60 MGF BOS Pad He Pelt 9.37tt Rainier 5andwe1l Teledyne 5M West Cdn Seed 10.75 White Yufcon 3700 WestriefcJ CALGARY (00 Ac roll 1.50 Barons Oil 5.95 Madison 1400 North Cent 16-75 West Warner .60 12.25 PIPE L1NB STOCKS 1.75 Alia GAS A .46 Alta Gas P'd 1.00 Alta Nat Gai ,60 infant! Nat Gai 19.25 N and C Gas 1625 W and C B ,95 Pacific Tram 9.BO Gai Melro Gaz iV'elro pfd1 Trans Cda 630 Trans Cda B Trans Cda A Trans Cda WC Trans WC Trans WIs Invest Mutual .41.50 Mutual Ac 582 4-40 Mutual Gr F 5-7i 432 Nat w VI Gr Principal "Wfund Gr AC 4.65 12.00 1.43 .il .0! .13 54 00 78-00 20 SO 16.6tti p- 14.00 2A.75 13-00 Universal Sa Vanguard 11.SO Onnw Ven1 7.31 VANCOUVER MINES Anuk Arctic Mining AMES Explor Bath Norse Brenda Rryctxi Churchill Copper Croyden Dankoe Dolly Varderi 7 28 7-9S 4.97 5.4S 6.U 671 4.E5 5.33 4.41 til 4.99 7.W 5.42 5.94 rate y, March 7B, 1972 THE LETHBRIDGE HERALD 21 BIO SALES visitors to Israel dur- ng UK first hall of 1971 totalled 18.7 million. Reliance 70-00 Lytlon Minerals Lorn ex Granlsle .32 1000 Falcon Copper Gcnsfar Home A Home D Hud Bay Co Hud Bay Oil :'J'Y1 Silver Standard fJ'JJ Tfixmont .49 ?5'SJ Trojan -37 Valley Copper 7.00 WC Res .06 10.3PL! INDUSTRIALS MUTUAL fUNDS Block Bros 3.55 All Cdn Com 8-75 9.M B.C. Sugar 30.121'j All Cdn Dlvld 9-77 B.C. Sugar Pfd All Cdn Vent 4.P7 Capt Inter 425 Amr Gr F 7.59 Crestbrook F Ind 4-10 AGF Special 346 Hys 3.95 Cdn Invest 499 5--17 Interior Brew 3.70 CQ! Mutual 85 752 Inter Mariner .63 Cmnw inler 1431 Key Indust .45 Cmnw LBV 3.84 J.32 Pacific Air 17.15 Corp Inveit 6.04 6-62 Stampede Inll Res -96 Corp Invest S F 5.1I 570 OILS 1B.62V? Dreyfus F US. 13.73 14.47 Albany Oil 43.37Vy Gr In Shares 4 42 Plains Pete .IS 33.00 37.25 37.50 5.7J 6-00 13.25 1525 34. SO 33.97' Hud Bay Oil Pfd 52.12V'a Gr Eqvily 7.3B West Exploi Toronto mines, industrials (Supplied By Richardson Securities of Canada) LAST BID OR SALE a.m. Quotn) MINES Acma .38 Advocate Asb- 1-75 Japanese businessmen tour Canada CALGARY (CP) Japanese businessmen touring Canada don't plan to sign any contracts immediately, although I h e y have been impressed with cer- tain Canadian manufactured products. Seiya Inaba, managing direc- tor of Sumitomo Shoji Kaislia Ltd., said the tour is designed "lo open doors for the business people of both countries." "In some products, we al- ready have an he said, adding tliat goods pur- chased might be resold to buy- ers in countries besides Japan. "The tour is oniy three weeks long were are unable to sign contracts now'." The Japanese are in Canada at the invitation of Trade Min- is ter Jean Luc Popin, who visited Japan last January. At that time, he criticized Japan for buying mainly natural re- source products while ignoring Canadian manufactured goods. Grain prices Winnipeg Grain WINNIPEG (CP) Rape- seed prices dropped slightly in the deferred months al mid- session on the Winnipeg Grain Exchange loday in a good vol- ume of exporter buying. May rapeseed futures at the Thun- der Bay posilion posted slight advances. Flax prices were off slightly in a moderate volume of hedge selling with limited local and commission house buying sup- port while rye gained frac- tionally in a quiet trade. Volume of trade Monday was bushels of flax, of rapeseed and of rye. Mid-session prices: Flax: May 2Vi lower .Inly t'.'a lower 2.73iiA; Oct. lower 2.7GVsA; Nov. not open. Rapeseed Vancouver: March not open; Jun 1 lower Sep. I'.fi lower Nov. 1 ower 2.55A. Rapeseed Thunder Bay: May higher July 1 lower Oct. 1 lower unchanged Oats: May unchanged taKi; July and Oct. not open. Barley: May unchanged l.ODVaA; July unchanged 1.09'M; Oct. 14 lower 1.09WA. Rye: May higher July higher Oct. 'A higher WINNIPEG (CP) Grain uralorne Broulan BelMetieni Brunswick Canada Tung. Casslar Central Pat. Chlmo quotes I-'] ax May Jly Oct Monday (basis Lake- High Low Close 285 279 277 Net earnings Hudson's Bay Co., year ended Jan. 31: 1972, 93 renis a share; 1571, 81 cenls. Knpcsced Vancouver Mar Juno 257-Vi Nov 256 280 277 276', i 27fi 2573i 250 Rapeseed Tlumrlcr Bay May Jly Oct 255 240 Oats May Jly Oct Ilarlcy May Jly Oct Kye May 1D2 Jly Oct 101 100 2.16 247 'z OIK 70 IKI" 109' lOO-ls lOOii EMPLOYMENT OPPORTUNITIES 9 Stenographer For Governmenf Office In Fort Mccleod O Shorf Order Cooks Waitresses and housekeepers Flying Instructor have leasl 2000 hours flying time Bookkeeper-Typist a building supply firm Male Psychiatric Nurse --for o city hospital, should have psych warH experience For complete delallj on tfme and olficr vacancies confacTi CANADA MANPOWER CENTRE Federal Building Lethbrdge 3.30 .35 37.25 3.80 a.m. Quotes) NcrlhgalB TJorlcx .28 Oslsko .J2 In Quebec Man Rayroclc Radiore Rfo Algom Roman Corp, ibler vjest Cons. n.i Coin Lak( Cothenour Crdigmont DIckenson Qenisrn fMt Deer Horn. Dome Mines Afdona Discovery Mines East Malartlc East Sullivan Falcon br Idg a Frobex Firit AAarltlmel Glanf Y-K. Sovls Granluc R.L. Holltnger Hudson Bay B S Hydra Ex. Ircn Bay ISO JoMel Quebec Addisnn Ccy Ar.acon Labrador Lake Shcre Lanqis Silver Madsen R.L, Malartic G.F. Martin MrNeely W. Horse Copper Sherrilt Gordon 1.73 1.15 2.05 7 in Ell-M Dome Peta Dofasco Cable Fd oT Amer Gt Cdn OJI Gen Motors Gt LflKes Pap Gulf Oil Cda eyhound Quofeil 27-M 77.00 6 00 82.50 17.50 Ha SfcJ .11 .33 1.30 3.10 92.75 .79 .75 8. IS 2.15 J.95 9 00 43.00 JJ-00 .17 .21 41.00 2.65 Mllkr Sleep RccK 7.41 Tek Corp. Texmont .48 Upper Canada 3.11 Western Wines 3.0Q Wright Harflreaves Wlllroy 1.10 LauVentr'd'i Yellowfcnlfa Besr 4.31 Kelly Doug A Hlrom Walk Imperial Oil Imasca Int Nickel Int Pipe Inv Gp A Int Utllilie; Indus! Accept 33.37V- 7.75 IHDUJTRIALS Abillbl Alcan Algoma Steel Atco Inrf AtJan Sugvir Agra IrxJ Bell Tel Brazil Trac B.C. Tel Burns B-C. Forest B.C. Sugar Bow Valley CAE Ind Cdn Brew ChemceU Col Cal Power Coron Credit Cdn Indust C W N Gas Cdn Marconi Cdn Vipers Chrysler .13 31-0) 14.25 7.00 12.00 22.00 10.00 30.50 6-7S Loeb Loblaw A Metro Massey Ferg McMillan re Corp Mo I ms A Mofsons B North, Cent Corp Price Co St Law Corp SKell CDA Simpson's Eeflrs Steel of Can Selkirk A Traders Gp A Trans Pp Trans Can Pp 3 Union Gas Union Oil Versatile Mfg Uni Car Cons Bath Sd '16 Cdn W.N. G3! 10 rjjst Sea 9-CO ij3n) Brfdge Dgmtar .2? Dom Textile 2.35 Dom Stores 34.63 Vi BANKS Can Imoerial Montreal Nova Scotia Royal Tor- Do m 3-i.SO 13. 87 "A 10.00 18. SO 21 -M A7.00 73 50 3J 75 3075 22.00 43 75 T (X) 1J75 e- CO 20 75 15.75 17 50 2-65 Hy BUD JOUGENSEN Canadian I'rcss Stuff Writer Interest rates for corporate borrowers appear to be heading upward but predictions for the mortgavc important one for mixed. One money market expert calls the mortgage rate the "po- litically sensitive interest rate" and notes that elections arc ex- pected this year in Canada and scheduled in Ihe United States. Rates for bonds and short- term corporate loans have been rising since the start of tills year but the government seems to be following a policy that will discourage that trend, Two Key factors affecting in- terest rates in Canada are rales in the U.S. and the value of Canadian dollar. Several U.S. hanks recenlly raised their prime lending rate one charged their most credit-worthy customers. The U.S. prime rate now is between 43A five per cent wliile in Canada the prime rate is six per cent. The prime is a basic rate in the interest-rate slrue turc. ATTRACTS U.S. INVESTORS Higher rates in Canada al tract U.S. investors and the value of the Canadian dollar i forced upward when U.S. dol lars flew in and arc convertec to Canadian dollars. A higher value for the Cana dian dollar makes exports les. competitive and the govcrnmen has been tinder pressure t drive its value down. The clos ing price Friday in world cur rency markets was about one sixth of a cent above par wit the U.S. dollar. Peter A. T. Campbell, mone market director for Wow Gundy Ltd., Toronto, says h expects most inlerest rates t increase but not the morlgag rate. Mr. Campbell, in an article i Canadian Chartered Accoun ant, notes that chartered hank have expanded their mortgag loan business and there is situation of growing supplies c mortgage funds." However, Morguard Inves ment Services Ltd., Toront says in its mortgage mark' newsletter that money will stc Neiv York stocks (Supplied By Richardson Securities of Canada) Amr T and Anaconda Bclh Sleel Chrysler Ccmsaf rJupont GIW off 57 ct rir m 43.371J Sears 1U.12V] 20 Golds 1850 Sid Oil Of N.J. 71.00 ln Texas Gulf 11S.B7W 32.67% Texas Co l5 W Oils a574 n.tV.'i Wickes Corp J9.62Vz Volume 169.75 Woolworlh 42.00 N E W YORK AVERAGES Bl.m'j Elec 47.75 30 Indus! 9J1.63 up "Jl TORONTO AVERAGES JJ up f 20 IrxJust 196.M off .15 Volume 'wing Into the mortgage mar- t unless rates increase. Jaixlner English, president of ortgage Insurance Co, of Can- la, says he can foresee an- iier one-quarter of a perccn- gi: point increase "but not udi more than that." Mortgage rates across Can- da currently range between 831 T cent and 9V4 per cent for conventional loans. Merrill Lynch, Royal Securi- Toronto, says in its test bond-market review that e "prime lending rate in the inking system, currently six er cent, lias to be viewed with some concern at Ibis point." Changes in mortgage rates generally follow prime-rate changes. The interest rate for 90-day deposits lias gone alrove 5.5 per cent in recent weeks and Hoyal Securities says a narrowing of the spread between this rate and the prime rale usually means higher borrowing rates. "Experience indicates that when the spread between the two narrows to less than one- half per cent the condition does not last long before the banks take steps to rectify the effect on their net return." Livestock report Calgary livestock CALGARY (CP) Receipts n the Calgary Livestock Mar- el lo 11 a.m. lolallcd 850 ead, mainly slaugher class- 5. Trade very active. Slaughter sieers sold fully leady. Slaughter heifers sold cenls higher. All grades of Dalsuus faulty TOKYO (Rculer) Japan's Nissan Motor Co. announced .oday it is recalling more than IGO.OXXI Dalsun 1COO passenger and vans. The company ays it wanls to remedy faully 'itiing in Uieir brake hoses. cows traded (ully 25 cents lilgli ;r, heifers higher. Few bulls ol nedium quality sold at steady prices. Choice steers 35 to 35.60, gocx to 35, medium 32.50 to 34 :hoice heifers 33.35 lo 3-1, gooc 32.35 to 33.25, medium 23.50 I 32. Good cows 25.50 lo 27.51) odd sale higher, medium 24.5 :o 2G.50, canners anil cullers 2 to 24.50. Medium bulls 2G 28.50. Replacement cattle con tinned to be scarce, trading steady prices. Good feede steers 750 pounds up 34.50 t 36.50 with iighler kinds higher Few medium butchcr-weigl calves sold al 33.50. Hogs average base 28.10. In Vancouver, a spokesman for the Nissan Automobile Co of Canada said the recall order includes Dalsun 1600 vehicle: sold in Canada. The spokesman was unable to say how many cars were volved in Canada but that announcement would probably be made later this week. pric ROYAL BANK ANNOUNCEMENT H. DOUGLAS McRORIi The Royal Bank of Canada is announced ihe expansion of Prairie Agricultural Deport- ment inlo o nationwide opera- Iri keeping wilh the additlon- of the expand- ed service, H. D- McRorie, former anager, Prairie Agricultural De- porlmcnl has been named Di- rector, Agricultural Services for Canada. Mr. McRorie'i offices will continue to be located in Winnipeg at 220 Portage Avenun A native of Avonleo, Saskatch- ewan, Mr. McRorie has extensive agricultural background. He gra- duated -from the University of _.. in 1956 wilh ijonng In agricultu Beef futures WINNIPEG (CP) Live bee futures close Monday. May 31.75N; July 34.25; Sept. 31.50B. Friday's volume: Four con- tra cts. COFFEE SHOP FOR LEASE! GRAND UNION HOTEL COLEMAN, AlBERTA EXCEUENT OPPORTUNITY FOR CHINESE COUPIE iaskatche B.5.A.....-------, economics ond received nil M.Sc., in 1965. Prior to joining Ihe Royal Bonk, Mr. McRorie had held several po- sitions wilh trio Saskatchewan Department of Agriculture, in- cluding Director of the Agricul- lurol Rnpresentalivs Branch of the Department. Mr. McRorio is o member of the Agricultural Institute of Ca- Conadion Agricultural Society; Canadian So- ciety of Rural Extension) 1rie Agricultural Grod- uales Association. He !s also DI- edor, Manitoba Chamber of Commerce; Director, Energy Institute of Manitoba and President-elect, Winnipeg Branch, Manitoba Institute of Agrologlsts. t If all your economy car has to offer Is you're wasting your money. get Gas finn lias hike in sales CALGARY An increaso in natural gas sales of almost 10 billion cubic feet, or 13 per cent, to a toal of 83.3 billion cubic feet was reported Mon- day by Canadian Western Na- tural Gas Company Limited in its annual report to sharehold- ers. Revenue from natural gas sales was compared with in 1970. Operat- ing expenses, including taxes and depreciation, were 000, an increase of from the previous year. Net earnings in 1071 were compared with in 1970. Earnings per common share were com- pared to the previous year. During 1971 a record number of new customers was connect- ed, to bring the total at year-end to In 1971 the capital expendi- ture program amounted lo and is forecast at in 1972. Most of the cap- ital expenditures will be devot- ed to connecting an estimated new customers in 1972. Canadian Western recorded a new maximum daily demand on Dec. 15 last when 447 million cubic feet were sent out to its customers. Earlier this year Canadian Western became a subsidiary of Canadian Utilities, Limited, its former electric utility asso- ciate. Canadian Utilities is now the parent company of not only Canadian Western but North- western Utilities, Limited, Northland Utilities Limited and of a new company Alberta Power Limited, which was formed to assume the former electric operations of Canadian Utilities. Canadian Western, which this vear marks its 60th anni- versary of service to Alhertans, provides natural gas to 97 com- munities including the eities of lalgary and Lcthbriclge. It's pipeline network extends miles. Many so-called ecosiOBiiy cars areirt when it