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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - March 30, 1973, Lethbridge, Alberta iusim ss i^liiilllfF; Four-day rally on TSE ended TORONTO (CP) - A four-day rally on the Toronto stock market ended today as prices in most major sectors drifted lower in moderate trading. The industrial index, considered the prime indicator of market direction, dropped .17 to 224.06. Base metals lost .40 to 100.20 and western oils .13 to 249.06. Golds were up .07 to 233.17. Volume by 11 a.m. was 714,-000 shares, up from 605,000 at the same time Thursday. Despite the general downward trend, advances held a wide margin over declines, 133 to 91, with 181 issues unchanged. Communication, oil refining, industrial mining, steel and real estate stocks dropped moderately lower while banking, construction and materials and trust and loan issues scored modest gains. Trading was halted early in the session in shares of Columbia Cellulose pending release of information. Prior to the halt, the common stock traded at $3.30 and the preferrd shares at $7%. Noranda was down 1 to $49, Chrysler % to $33%, CHUM Ltd. % to $10%, Dome Pete Y> to $40% and Gibraltar V� to 10%. Shell Canada rose % to $56, Algoma Central % to $15V'2, Weldwood % to $18, Toronto Dominion Bank % to $34%, Mclntyre 4 to $49V& and Decca 15 cents to $5.55. Livestock Calgary livestock CALGARY (CP) - Receipts at the Calgary livestock mar ket to 11 a.m. today totalled 1,45ft head, mostly replacement cattle. Trade was moderate. Insufficient slaughter steers and heifers were offered to es tablish a market. A few cows and bulls sold generally in line with prices Thursday. Thursday's prices: Al, A2 steers 42 to 42.90. A3 41 to 42 Al, A2 heifers 40.50 to 41.50, A3 39.50 to 40.50. Dl, D2 cows 31.50 to 32.50, D3 30.50 to 31.50, D4 26 to 30.50. Good bulls 36.50 to 37.75. All classes of replacement cattle were represented and sold to a fair demand at lower prices. Good feeder steers more than 750 pounds 40 to 45.50, less than 750 pounds 45.50 to 49. Good feeder heifers 41 to 44.50. Good stock steer calves about 500 pounds 49 to 51, good heifer calves about 500 pounds 45 to 48. MONTREAL (CP) - All sectors except industrials and utilities advanced in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 399,900 shares, compared with 374,100 shares at the same time Thursday. Banks advanced 3.68 to 273.65. papers .25 to 122.40 and the composite .08 to 230.50 white industrials dropped .35 to 243.26 and utilities .13 ot 160.52. On the Montreal Stock Ex change, Credit Fonder gained $6 to $118, Shell Canada VA to $56%, Hollinger Mines % to $47 and Aquitaine % to $25% while Noranda Mines dropped 1% to $48%. On the Canadian Stock E* change, Abitibi Copper gained % cent to 20% cents on 82,700 shares. Grain prices Winnipeg grain WINNIPEG (CP) - Prices dropped in a selling trend, and were only slightly above the previous close at mid-session today on the Winnipeg Commodity Exchange. Flax was 1 to 3 V* higher, while rapeseed was 1 % to Vh higher with the cash month % lower, Oats and barley was fractionally higher in light trading, and rye was mixed with new crop futures factionally higher Thursday's trading volume Was 841,000 bushels of flax, 312, 000 bushels of rye and 902,000 bushels of rapeseed. Mid-session prices: Flax: May 1 higher 4.16A; July 3 % higher 4.13; Oct. 3 higher 4.09 Vik; Nov. 3 V\ high er 4.02 V\k. Rapeseed Vancouver: March % lower 3.75 y4B; June 1 s/ higher 3.71 %; Sep. 1 % higher I 3.67 %A; Nov. 1 % higher 3.491 B. Rapeseed Thunder Bay: May 2 % higher 3.50 %A; July 2 % higher 3.50 %A; Oct. Yt higher 3.39A; Nov. unchanged 3.18 %B. Oats: May % higher 1.15 A; July % higher 1.10 %B; Oct. % higher 1.05 ViB; Dec. Va higher 1.04 %B. Barley: May % higher 1.49 %B; July % higher 1.48 %B; Oct. % higher 1.48 %A; Dec. Vb lower 1.47 7/sA. Rye: May unchanged 1.42 % B; July % lower 1.44B; Oct. NEW YORK (AP) - Profit taking and disappointment that President Nixon had not gone nar enough to stem inflation brought prices on the stock market down today. The Dow Jones average of 30 industrials at noon was down 3.84 to 955.30. Declines outdid gainers 722 to 453 on the New York Stock Exchange. On the New York exchange, Mclntyre rose % to $52, Hudson Bay Mining % to $24, Genstar Yt to $l7'/4 and Alcan Va to $26%. loco dropped V* to $33%, Canadian Pacific 'A to $19% and Massey-Ferguson % to $20%. On the American exchange, Brascan advanced % to $20%. - Friday, March 30, 1973 - THE IETHBRIDOE HERALD - 23 Japanese hog market loss hurts producers EDMONTON (CP) - A sud-den withdrawal by the Japanese from,the hog market in both Canada and the United States and the psychology of increasing consumer resistance to meat prices has had a marked effect on the rpices paid to Canadian hog producers an Alberta agriculture depart- ment marketing specialist said Wednesday. Jim Dawson, a livestock economist, said the reason for the sudden loss of Japanese markets was not immediately known but it had resulted in some "panic selling' 'which worked to the disadvantage of producers. Alberta milk price lowest in Canada % % higher 1.42 %B; Dec. y8| higher 1.40 %B. Grain quotes Thursday (basis | Lakehead): Giant birdcage Cars recalled for defects DETROIT (AP) Chrysler Corp. yesterday recalled 431 Plymouth Satellites and Dodge Coronets and Chargers - for a possible defect in the brake warning light system. A spokesman said about 22 of the recalled 1973-model autos are suspected of having improperly connected brake warning lights. Such a defect could leave the lamp inoperative in case of front or rear brake failure, he said. No accidents or injuries have been reported because of the possible defect, the spokesman said. In Windsor, Ont., a spokes, man for Chrysler Canada Ltd. said no cars in Canada were affected by the recall. High Low Close Flax May 418% 414% 415 Jly 413% 409% 409% Oct 408% 406 406% Nov - - 399 Rapeseed Vancouver Mar 381 375% 376 June 372 366 370 Sep 367% 364 365% Nov 350% 346% 347% Rapeseed Thunder Bay May 350 347 348 Jly 351 348 348% Oct - - 338% Nov ___ -- 318% O Is May 1147is 114% 114y* Jly 110% 109% 110 Oct 104% 104% 104% Dec - - 104 Barley May 149% 149% 149% Jly 149 148% 148% Oct 148% 148% 148% Dec - - 148 Rye May 143% 141% 142% Jly 145% 143% 144% Oct 144% 142% 142% Dec - - 140 Steel reinforcing rods welded together are checked by workmen before the structure is upended to form base for concrete pillars of a new bridge in Vancouver. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCaaig limited) LAST BID OR SALE (11:00 a.m. Quotes) (11:00 a.m. Quotes] (11:00 a.m. Quotes! Dairy farmers get price hike SCHWARrZ AGENCIES (1972) LTD. By DOUG SMALL OTTAWA (CP) - Beginning Monday, farmers will pocket up to 60 cents more for every 100 pounds of manufacturing milk they sell and consumers will pay at least three cents a pound more for butter. The changes were contained in new dairy policy announced Thursday by Agriculture Minister Eugene Whelan. The new regulations govern federal aspects of the highly-complex, heavily-regulated dairy industry. This year, the Canadian Dairy Commission has been authorized to increase its support, or guaranteed, price for butter to 71 cents a pound from 68 cents, for cheddar cheese to 60 from 54 cents a pound and for skim milk powder to 35 from 29 cents a pound. As well, it will increase by 20 cents-to $1.45-the direct subsidy it pays dairy farmers for each 100 pounds of manufacturing milk they produce. That's the milk used to make cheese, but' ter and powder. The support price increases for the three products, calculated on the basis of 100 pounds, equal an extra 60 cents for every 100 pounds of manufacturing milk sold by farmers The extra 20-cent subsidy actually will be eaten up by an increase in a levy charged dairy farmers to offset costs of selling powdered milk on export markets. Birdie Schmitt Birdie la tha solas rap for February. To win tha honour she obtained a graat numbar of new listings to sail houses. Blrdla's professional approach mixes the business of selling houses with satisfying tha customers. Call any of the Schwartz professionals ot 328-3331. That levy, now 10 cents for every 100 pounds of milk a farmer sells, will rise to 30 cents and represents the difference between federal support prices for powdered milk and the price the product sells for abroad. Increases for powdered milk and butter will be passed on to consumers immediately. Since the federal dairy commission has raised its price, provincial marketing boards, which set the market price of milk, will raise their prices. These in turn will be passed on to consumers, who will pay no less than three cents a pound more for butter and no less than six cents more for powdered milk. Cheddar cheese prices will not be affected because they are currently between 80 cents and $1.19 a pound in stores, well above the 60-cent guaranteed price. Mr. Whelan said the increases for consumers do not represent that much because the purchas ing power of the top twe-thirds of the population has increased even more. As well, no one was forcing people to eat butter. There are plenty of nutritious substitutes like margarine on the market and there is "nothing wrong with them," he said. The announcement received unfavorable reaction in the Commons. Conservative farm critic Harold Danforth (Kent-Essex), a farmer, said he was shocked by the statement. WESTERN OILS AND MINES Alta East Gas Almlnex Asamera Ashland BP Canada Brands Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chteltan Dome Pete Dynasty Fort Reliance Giant Mascot Grantsle Gt Plains Gt Cdn Oil S Lochlel Lytton Mln Noble Mines North Cdn Oil Numac Pancdn Pete Pan Ocean Petrel Pinnacle Place Gas Ponder Ranger Scurry Rain Selbens Spooner Total Peta Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar Pfd Block Bros Brlnco Cdn Brew A Cdn Brew B Cdn Pacific Crestbrook Ind 9.45 5.95 12.25 14.50 16.50 5.30 4.75 4.20 8.35 8.75 .25 53.00 4.00 11.75 40.25 9.90 .33 3.5S 9.75 34.00 8.65 3.20 1.75 1.55 7.25 Cygnus A Cygnus B Falcon Copper F and M Trust Genstar Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Ptd Hugh Russell Husky Oil 7.75 AGF Special 2.96 7.75 Cdn Invest F 5.28 5.79 13.87'/i Col Mutual 6.47 7.10 7 25 Cmnw Inter 15.69 17.24 17 05 Cmnw Lev 4.08 4.48 i�oS Cmnw Vent 8.05 8.85 ilia Corp Invest 6.42 7.05 �wia Corp Invest St F 5.44 5.97 "H*4 Dreyfus F U.S. 12.21 13.38 , ,. Great Pacific "22 Gr In Shares Gr Equity _______ - 20.75 |nvest Gr F Husky Oil B Pfd 43.12'A |nve!t Mutual Husky D War 7.50 Mutual Ac Husky E War 9.10 Mutual Gr F Inter Prov Pipe 1M7V4 Nat Res Inter Prov Steel 14.50 N W Cdn Kaiser Res 3.10 N W Gr Loblaw C Pfd 29.25 Principal Gr 13.62'/2 Roytund 33.12Va Temp Gr 10.75 United Ac 5.00 Universal Sav 25.75 Unlvest 1io Vanguard 4.10 CALOARY 4.90 Acroll 6.00 Barons Oil 1.35 North Continental 64.25 West Warner 14.12V2 VANCOUVER PIPE LINE STOCKS Afton M1NES Magnasonlcs Pacific Pele PW Air Rainier Ine Royal Trust St. Maurice Cap Sandwell Teledyne 17.121/j West Cdn Seed 15.12VV Westfleld Mln 15.62'A Weston A Pfd 1.32 White Yukon .23 .60 .40 29.50 17.50 13.25 .54 7.20 1.09 �.75 5.65 4.90 5.36 4.22 4.64 8.77 9.63 12.87 14.07 6.03 6.66 6.37 7.01 4.08 4.49 8.14 8.90 5.75 6.32 5.47 6.01 5.03 5.52 7.03 7.32 9.40 10.38 5.51 6.05 8.30 9.12 6.15 6.76 7.32 8.02 .65 .04 .01 .32 16.50 74.25 21.75 Crowsnest Ind 16.00 25.00 15.50 2.95 5.67'A 27.00 32.75 Inv 30.75 8.75 Alta Gas A Alta Gas Pfd Alta Nat Gas Inland Nat Gas N and C Gas N and C B Pfd Pacific Trans Gaz Metro A Gaz Metro Tr Cda A Pfd Trans Cda Pipe 40.50 Tr Cda B Pfd 41.50 Atlas Explor Bath Norse Croyden �ii mia Dankoe "fijj Davenport JVftft Dolly Varden Equltorlal Res Lornex ^22 Timer ,152,, Pyramid 75.62V*, silver Standard Valley Cooper INDUSTRIALS 26.75 Tr Cda War 9.80 Capt Inter WC Trans 23.12'A Columbia Brew WC Trans Wts 5.10 Hys cdn MUTUAL FUNDS Key '"""oiLS All Cdn Com 7.90 8.63 Albany Oils All Cdn Dlvld 8.52 9.31 Plains Pete All Cdn Vent 4.16 4.55 Stampede Intl Res Amr Gr F 5.95 6.53 West Explor 8.10 .58 .88 .05 1.20 .51 .30 .21 �.35 .225* .19'A .75 10.00 2.15 3.25 6.00 .29 1.15 .27 .62 .07 By ROBERT BENTLEY Canadian Pess Staff Writer If milk's your drink, you're better off living on the Prairies, in Montreal, or in eastern Canada, Judging by latest price reports from across the country. At 33 cents a quart for whole milk, Albertans in major cities will be paying less as of April 1 than any other Canadian community. Northern Ontario residents have long forgotten when they bought milk at that price: Beginning April 1, their quarts will cost about 45 cents. A Cross-Canada survey by The Canadian Press shows considerable retail price variations for a quart of whole milk. And the picture changes rapidly along with wage demands and farmers seeking increases in their raw milk prices to offset higher costs, particularly in dairy feed. One Ontario dairy spokesman said "the situation is pretty fluid-if you'll pardon the expression." Prices across the country: , Newfoundland - Price per quart varies from 41 to 43 cents. Two dairies have raised prices two cents in the last three months; a third will by April 2. Maritimes-Milk prices are among the lowest in the coun try. Prince Edward Islanders pay 35 cents a quart, which included a three-cent increase March 1. On mainland Nova Scotia, milk costs 36 cents a quart and 37 on Cape Breton..Island. Last price increase was two cents in July, 1972. Quebec-From April 1, Mon-trealers will be paying 34 cents a quart in stores, a price bettered only by Alberta's 33 cents From the same date, milk in Quebec City will cost 37 cents. In each case the figures will be three cents higher than now. Prices in stores across the province will range between 34 and 38 cents compared with 31 and 36 cents a quart before April 1. The rises follow increases in the prices paid farmers. PRICES STEADY Toronto mines, industrials (Supplied By Richardson Securities of Canada) (11:00 a.m; Quotas) LAST BID OR SALE (11:00 r.m. Quotes) (11:00 a.m. Quotas) Wooica PRICE CORRECTION! Pompers Disposable Diapers as advertised in Thursday's Lerhbrldge Herald on Pag* 14 should have read at follows: PAMPERS DISPOSAtii DIAPERS Features new custom fit tapes. No pins needed. Daytimes 30's, and Newborn 30's.......... 1.59 MINKS Placer Dev. 50.75 Grt Cdn Oil 8.35 Acme .15 P.C. Exp. 3.15 Gen Motors 71.75 Advocate Asb. 1.20 Quebec Man .10 Grt Lakes Pp 22.25 Akaltcho .78 Rayrock 1.25 Gulf Oil Cda 34.00 Bralorne 2.60 Radlore .32 Greyhound 19.75 Broulan .35 Rio Algom 57.00 Hawker Sid 4.40 Bethlehem 15.00 Roman Corp. 8.50 Hur Erie 31.75 Brunswick 4.75 Sherrltt Gordon 16.75 Hiram Walker 50.00 Can. N.w. Land 7.65 Steep Rock 1.62 Imp Oil 41.87Vi Canada Tung. 1.15 Tek Corp. 4.10 Imasca 33.00 Casslar 12.75 Texmont .28 Int Nickel 34.00 Central Pat. 1.26 Upper Canada 2.80 Int Pipe 25.75 Chlmo 1.25 Western Mines 2.70 Inv Gro A 10.75 Conwest 7.15 Wright Hargreaves 1.15 Int Utll 23.75 Cons. Rambler 3.55 Wtllroy 1.05 Ind Accept 18.25 Coin Lake .18 Windfall .11 Kaps 8.50 Cochenour .80 Yellowknlte Bear 3.90 Laurentlde 11.E0 Dickenson Mines 3.60 Zenmac .07'A Kelly Doug A 8.12Mi Denlson Mines 34.75 INDUSTRIALS Lceb 4.80 Deer Horn .051/j Abltlbl 11.50 Loblaw A 6.50 D'Eldona .45 Alcan 26.62Vi Met Stores 23.25 Dome Mines 79.00 Algoma Steel 16.50 Massey Ferg 20.50 Donalds .35 Atco Ind 11.50 McMillan Bloe 31.50 Discovery Mines 1.00 Atlantic Sugar 6.25 Moore Corp 52.62W East Matartlc 3.45 Agra Ind 12.25 Molsons A 27.75 East Sullivan 3.00 Bell Tel 43.25 Molsons B 27.50 Falconbrldge 71.00 Brazil Trac 20.25 North - Cent 11.25 Frobex .29 B.C. Tel 54.75 Power Corp 12.37V1, First Maritimes .46 Burns 18.25 Price Co 16.00 Giant Y.K. 7.50 B.C. Forest 34.00 Rothmans 15.62'A Granduc 3.25 B.C. Sugar 21.25 St. Law Corp 19.50 Hollinger 47.00 Bow Val Ind 33.7i; Shell CDA 55.75 Hudson Bay M-S 24.00 CAE Ind 11.00 Simpson's 33.50 Hydra Ex. .23 Cdn Brew 5.25 Simp Stars 52.75 Bovls 2.85 Chemcell 4.60 Steel of Cda 39.50 Iron Bay 3.80 Col Cell 3.00 Selkirk A ' 14.50 ISO 2.64 Calgary Power 27.75 Texaco 64.35 Jollet Quebec ,J4Vi Coron Credit 1.80 Traders Grp A 19.50 Kerr Addison 12.00 C.W.N. Gas Pfd 11.50 Trans Mtn Pp 32.12VS Key Anaeen .26 Cdn Ind 16.871* Trans Cda Pp 40.I7V4 Labrador 42.00 Cdn Marconi 4.15 Union Gas 11.50 Lake Shore 3.05 Cdn Vlckers 13.50 Union Oil 16.50 Langls Silver .07 Chrysler 34.25 Versatile Mfg 7.25 Madsen R.L. .69 C.P.R. 19.00 Westeel 30.25 Malartlc G.F. .84 Comlnco 32.00 Union Carb 16.75 Martin McNeely .21 Cons Bath 21.12Va Weston's B 31.62 Maclntyre 48.00 Cons Gas 17.00 Woodward's A 29.75 Meta .12 Dlst Seagrams 40.12V* West Cdn Seed 6.00 Mldrlm ,15V> Dom Bridge 33.00 Zenith Elec 2.70 Mogul 14.00 Domter 20.25 BANKS Nu West Homes 10.75 Dom Textile 8.871/4 Noranda 48.6214 Dom Stores 14.50 Cdn Imo 30.75 Northgate 5.65 Dome Pete 40.25 Montreal 20.12Vj Norlex .4316 ,22 Dofasco 2f.62W Nova Scotia 37.00 Oslska Cable 17.37Vi Royal 34.67',* Pine Point 30.12V4 Glendate 10.75 Tor-Dom 34.50 Prairies-The Milk Control Board of Manitoba, with jurisdiction in Winnipeg, Selkirk, Portage, Brandon, Neepawa and Winkler, last raised the maximum retail price per quart of whole milk by two cents to 34 cents Oct. 1, 1972. Other rural areas charge about one cent more. In northern areas, price per quart is determined mainly by transportation costs. There are no immediate plans to raise the cost of milk again. In Saskatchewan, whole milk costs 35 cents a quart. A spokesman for Saskatchewan Co-operative Creamery Association Ltd., said no increase is expected in the near future, although in Regina a spokesman for Silverwood Dairies Ltd. said that with staff wages going up in April, an increase seemed likely. Although Alberta has the most favorable price at 33 cents a quart in major centres, dairies say there could be another increase this fall of a yet-unspecified amount. The last increase, of two cents, became effective Jan. 2. British Columbia-Another higher-priced province for milk, B.C.s' quarts retail between 41 and 44 cents. Again, a spokesman for Silverwood, the major dairy, pointed to increased wages in April as a possible cause for increased milk prices Last increase was Feb. 29. On the Toronto market, for example, usually 30,000 hogs a day are marketed at the start of each week while recent sales have been up to 33,000 animals a day, he said. The price reduction has "hit the U.S. real hard with the seven major markets averaging about $33.50 a hundredweight Tuesday, down from about $39.50." Last week hog prices at Edmonton dropped to $44 a hundred from $48 and Wednesday average quotations was $41.45 compared with $43.80 Tuesday. There has been some reduction recently in the supply of hogs, Mr. Dawson said but basically "there is a lot of psychology in it." He said the threatened U.S.-wide meat counter boycott is also a factor in declining prices to producers and "we in Canada tend to follow the U.S. example." LEVEL OFF Mr. Dawson said pork prices were expected to level off now and probably would remain stable until June when another production increase is expected. He said a similar situation existed in cattle with prices also dropping to producers but the reductions we're not "as significant" as in the hog market. In Lethbridge, the price paid to producers has decreased each day this week. Monday's price was $46.05 per hundredweight with the price Wednesday at $40.75 per hundredweight. The high price in Lethbridge this year was $50.25 about two weeks ago. An official of a hog assembling point in Lethbridge said nobody is getting ready to panic. He said there usually is a drop in the price in early spring as farmers get out on the land. This combined with the exceptionally high prices recently means the price drop is putting some extra pressure on the market. His opinion is that the price will continue to drop for a couple of weeks and then bounce back. Beef futures WINNIPEG (CP) - live beef futures close Thursday. May - 43.40A; Jly - 42.10B; Sep - 4I.25B; Nov - 40.50A. Wednesday's volume: 27 contracts. New York stocks (Supplied By Richardson Securities of Canada) Amr T and Anaconda Beth Steel Chrysler Comsat Dupont GM Gulf Int Harvester Kenn Copper Montgomery ward 51.00 21.75 30.00 33.87VJ 54,35 167.25 72.1 Vh 25.25 33.I7VS 27.STO 22.12ft Sears X-Ron Texas Gull Texas Co Wlckes Cor Woolworth 103.25 95.00 23.1 2Vi 39.50 19.12'A 32.37VV Westlnghousa Elec 38.25 U.S. Steel 33.25 Gen Tel Elec 28.62Vi TORONTO AVERAGES 20 Indust 223.92 Oft .31 20 Golds 233 23 up .13 10 Bases Met 100.55 off .14 15 W Oils 249.10 off .27 Volume 1,159,000 NEW YORK AVERAGES 30 Indust 955.30 off 364 20 Ralls 200.48 off .93. 15 Utilities 107.75 off .03 65 Stocks 301.92 off 1.06 Volume 6,360,000 Big rooms. Comfortable rooms, and more of them than practically any other hotel in Calgary. With the best dining in town on the first floor. And the best entertainment right alongside it. The Calgary Tower is next door with theatres, shops and more great restaurants. You don't even have to go outdoors to get to them all. People who have been staying with us for years keep coming back. Why? Not only because of the convenience and excellence of the services. More perhaps because they like the feeling, the atmosphere of the place.. because this is where traditional Calgary Hospitality began. THE Downtown at 9th Avenue and 1st Street S.W. CP Hotels^ In Lethbridge phone ZE 0-7337 for reservations ;