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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 7, 1974, Lethbridge, Alberta iwrm TIM LBirmmiNW HERALD erta comment overdue I1 an elhylene plant proposal OTTAWA Eneri Minister Donald Macdonald indicated Monday that the cabinet has waited long enough for comment from Alberta on a proposed ethylene plant in that province just about at it this he said in an interview when asked whether the government has set a deadline tor any response from Alberta His comment came about two weeks after Mr Macdonald said he was having difficulty soliciting the province's views on the which includes ethane and ethylene pipelines out of Alberta Dome Petroleum Ltd and Dow Chemical of Canada Ltd Grain shipments greatly improved WINNIPEG The gram movement picture on the prairies has greatly improved following more favorable weather Mike Canadian Wheat Board director of grain said today off and said Mr Martin in an interview He said grain car unloadmgs at the west coast where on target for the week and almost on target at Thunder Bay There are 13 ships waiting for loads at Vancouver and 10 others were in the process of loading Monday Because no berths were available the board is not responsible for demurrage to the waiting ships Board officials had said last week that about 50 per cent of trackage used for grain movement on the prairies was out of commission due to flooding But Mr Martin said 123 rail stations recently were put back into service Many roads still are under weight and Mr Martin said farmers' deliveries are being affected Muddy fields also could delay access to granaries The 13 million bushels of grain delivered to elevators last week was below average Gov't unveils hog export sales program to Japan EDMONTON An export sales program that will see up to hogs processed by Alberta packers for export to Japan each week was unveiled by the provincial government Monday Agriculture Minister Dr Hugh Horner said the hogs will be purchased from Alberta producers at a minimum price of per hundredweight He told the legislature this is to above the current domestic Dr Horner explained that this will help producers who are receiving a price for their hogs below the total cost of production Domestic consumers will benefit because the higher prices received for hogs that end up in Japan will encourage Alberta producers to sustain their present level of production Since the number of hogs involved in the export program is limited prices will be pooled so all producers will receive equal benefit from the program Pact expected soon on hog producers aid OTTAWA The federal government is working toward agreement with the provinces to provide support for hog Agiiculture Minister Eugene Whelan told the Commons Monday 'Alf Gleave Saskatoon said four western provinces and Quebec have had to Prestige Office Space FOR RENT 327-6747 provide support for hog producers Saskatchewan was paying an animal to hog farmers When was the federal government going to take its responsibilities in this field7 Mr Whelan said talks are in progress with the provinces and he hopes agreement can be reached soon He said Prince Edward Island also has a subsidy for hog producers and mentioned that P E I Premier Alex Campbell was in the Commons gallery Following a welcoming round of desk-thumping applause for the Mr Gleave said that it is too bad Mr Campbell to win an election and come to Ottawa to get the minister's attention 418-13thSt N 327-7449 FRAMES-PASSPORTS COPYWORK-FILM COMMERCIAL PHOTOGRAPHY Slide sets TV ads Newspaper promos publicity shots commercial portraits product photos farm animals and equipment Call us and let us discuss how we can help your bus'rwss grow have applied for approval to export the natural gas derivatives to Eastern Canada and the United States he was asked in the Commons by Liberal back- bencher Jack Cullen if there had been any response to the National Energy Board's recommendation that the permits be granted The reply was there had been no further response and that the cabinet might have to make up its mind without Alberta's help He said outside the House his next move will be to send a telegram the Alberta govern- ment and follow this up with a telephone call The energy board's recom- mendation for approval of the application was made public before a cabinet decision on the matter was taken Mr Macdonald said April 23 that the reason for making the recommendation public was to elicit the opinions of interested particularly the Alberta government would hope to make a decision within a couple of he said at that time Mr Macdonald raised the issue at a Commons energy commitetee saying he had attempted unsuccessfully to reach Don Alberta's minister of intergovernmental by telephone He said after that meeting that Mr Getty had promised earlier to discuss the issue with other Alberta but there was no indication that there would be a formal provincial submission on the issue In Don Alberta's federal and inter- governmental affairs said the province's views were transmitted to federal officials Monday Mr Getty said the commu- nique should have been re- ceived but if it Ottawa should have it today He did not disclose the prov- ince's position New wage agreement suggested OTTAWA A con- ciliation report dealing with grain workers and elevator and wheat pools in the West recommends a two-year agreement with across-the- board increases and cost-of- living adjustments in the future Conciliation Commissioner G Neil Perry of Victoria recommended an agreement running from Dec 1973 to Nov 1975 An across-the-board increase of 87 cents an hour would be retroactive to Dec 1 and a further such increase of 65 cents an hour would be effective Dec under the recommended agreement There would also be cost-of- living adjustments to com- pensate for any increase in ex- cess of four per cent a after April in the Statistics Canada consumer price index The cost-of-living adjustments would be made if needed in August and 1974 and in August and November of 1975 The agreement is between the Grain Workers local and Alberta Wheat Pacific Elevators Ltd United Grain Growers Ltd and Saskatchewan Wheat Pool Under their present gram workers make between 62 and 88 an hour Revenue Canada Customs and Excise Revenu Canada Douanes et Accise INFORMATION SERVICES HAVE YOU ANY QUESTIONS FOR CANADA MONDAY TO I TELEPHONE I 'OMOh -1700h K M8-2603 SERVICE DE RENSEIGNEMENT LES DOUANES DU LUNDI AU 0900h 1700h 327-2888 328-2803 The Herald Business Stocks Miscellaneous Montreal by WESTEHN 6 50 AND 3 80 Afton 6 25 Albany Foods 3 50 Alta East Mm 1 08 A Pfd 53 00 Yukon 7 75 Ashland STOCKS BP Gas Trk A Brenda Gas Trk Pfd 59 00 Cda Nat Gas 1900 Cdn Ex Metro 5 Cdn Nat Gas 9 Cdn Ind Gas and C Gas 11 00 Cdn Long and C Gas B Pfd 21 00 Cdn Trans 1000 Chieftan Cda Pipe 30 50 Dome Pipe A Pfd 55 75 Cda Pipe B Pfd 32 00 Fort Pipe War 4 20 Giant Trans 20 Gibraltar Trans War 2 60 Gt Gt Cdn OH 42 Lochiel Oils 09 Lytton Continental 02 Noble Warner 30 North Cdn Numac Oil Pancdn Explorations 32 Pan Norsemmes 1 37 2 85 68 Place Varden 30 Res 12 Ranger 8 50 Scurry Mines 2 70 06 10 Total Standard 2 25 Ulster Copper 7 05 United West Brewing 2 75 West Industries 10 Petroleum 46 Acres Pete 17 Explorations 91 BC Sugar C Intl Res 65 Block FUNDS Cdn Pac Inv A Cdn Compound 5 85 6 36 Carlmg O Keefe A Cdn Dividend 614 6 68 Carlmg 0 Keefe B Cdn Ventures 3 15 342 Comm Cap Growth Fund 4 42 4 86 Crestbrook G F Special 2 27 Crowsnest Invest Fund 4 60 5 05 Falcon Mutual 4 80 5 27 F M Trust Inter 5 60 Leverage 3 06 Home Oil Venture 2 99 Home Oil Investors 5 73 6 30 Hud Bay invest Stock Fd 4 43 4 87 Hud Bay cund US 1014 11 11 Hud Bay Oil A Pacific 4 32 4 72 Hugh Russell C 'n Shares 284 312 Husky Equity 650 714 Husky Oil B Growth Fund 11 23 1227 Husky Oil D Mutual 5 32 5 81 Husky Oil E Accum 5 65 6 21 Interprov Pipe Growth Fund 291 319 Interprov Steel Resources 441 485 Kaiser Cdn 510 560 Kaiser Res W Growth 4 31 Lobldw Co 2 40 C Growth 3 99 4 38 Mutual 5 44 5 95 Pacific 821 6 47 Pacific West Growth 747 819 Pen-Ben Oilfield Accum 4 18 459 Rainier 87 Savings 7 58 8 34 Royal 561 615 Toronto industrials by Richardson Securities of MINES Acme Advocate Asb Aka tcho Bralorne Broulan Bethlehem Bovis Brunswick Can NW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons Rambler Com Lakp Cochenour Craigmont Dickenson Mines Demson Mines Denison Mines D Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Mantimes Giant YK Granduc Hollmger Hudson Bay Hydra Ex Iron Bay Iso Johet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G F Martin McNeely Maclntyre Meta Midrim Intern Mogul Nu West Homes New Athona New Calumet Noranda Northgale Norlex Pine Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Sherntt Gordon Steep ROCK Sunningdale Tek Corp A United Canso Western Mines WH Copper Mines Hargreaves Willroy Windfall Yellowkmfe Bear Zenmac INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Jannock Agra Ind Bell Tel A Tel 1 I UJ 1 Forest I OX 1 Sugar A Valley Ind 1287Vi 1 CAE Ind 455 625 365 300 0 Keele Chemcell Can Cellulose Cal Power Coron Credit yu 1 Gas Pfd I Ut 390 296 Ind Cdn Marconi Cdn Vickers 1 5 800 800 41 Commco Cons Bathurst Cons Qas Seagrams 14500 230 600 300 4950 Bridge Domtar Dom Textile Dom Stores Dome Pete Dofascd Glen Mobile 50 240 3550 1975 Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Sid Walker 1 51 1 1 62 Erie Imperial Oil Imasca 30 3200 500 1 Nickel Int Pipe Inv Grp A I Intl In Accept 1 62 OS 4000 i Douglas A Laurentide iy i 775 10 12Vz A Metropolitan Massey Ferg McMill Bloed 30 4300 5 Corp Molsons A Molsons B 29 3500 1 North Cent Power Corp Price Co 21 1 Rothmans 26 2800 1000 11 CDA Simpsons Simp Sears Steel Can 1 A 6 3 90 Grp A 18 87Vz Mtn Pipe Trans Can Pipe Union Carbide 3 Gas 1 Oil 1 79 Ssicoe Versatile Mfg Westeel A Cdn Seed 11 Elec 32 37 Imperial Scotia 41 Dom 1600 5300 1250 1737Vj 2050 22 1225 9 290 575 575 2275 230 925 305 17 1650 1425 2675 2500 15 3825 4025 2500 1375 2925 29 37'2 450 800 4575 2373 2925 1650 525 21 50 34 8714 2750 1750 7 13 305 500 875 360 575 1200 1700 2775 21 75 21 00 700 11 00 1075 1350 6 37 V4 1250 14 75 750 1075 29 13 12'r 4275 11 50 1375 3000 18 875 11 00 6 87 21 50 1975 21 50 340 280 26 62 V4 1725 3300 3250 3600 Sharp market losses follow Turner budget TORONTO The To- ronto stock market reacted to- day with sharp losses to the announcement in the federal budget of higher taxes on corporations Trading was moderate at mid-mornmg The industrial widely-based indicator of market fell 323 to 195 golds 158 to base metals 2 99 to 67 40 and western oils 7 72 to 213 73 Declines outnumbered ad- vances by almost five to MONTREAL All sectors moved lower in light trading on the Montreal Stock Exchange today Volume at 11 am was 270 200 shares compared with 164000 at the same time Banks dropped 5 16 to 250 18 231 to with 122 issues un- changed Volume by 11 a.m was 000 up from at the same time Monday. Mining and oil shares were among the hardest hit following the announcement of an increase in the tax rate on resource companies Home Oil A fell 2 to Falconbridge Nickel to Hudson's Bay Oil and Gas to Bow Valley to Vi and Dome Pete Markst industrials 4 91 to 214 70 the composite 4 05 to 202 33 utilities 63 to 122 78 and papers 52 to 17 Aqu.tame fell I7u to Alcan to BP Canada -ft to Algoma Steel to and Gulf Oil Canada to J29 Among speculative issues Quebec Chicago markets CHICAGO Commodity futures came under strong selling pressure on major exchanges Monday Many tell to limits for one session There were several reasons for the bearish moods regarding futures Basically it appeared that domestic commodity futures under liquidation were reacting to a rather widespread belief that production of livestock meats eggs grams and allied farm products will meet am demands this year with enough for export and storage Silver tutures fell 20 cents an ounce and the unrestricted expiring Mav options went down 25 cents Cotton futures fell the limit of a bale copper fell nearlv 500 points Wool futures eased 5 5 cents and coffee 200 points Cocoa fell as much as 500 points while world sugar and frozen orange juice were down about 100 points On the Board of Trade most farm commodity futures fell to limits for one session Wheat and sovbeans were down the limit of 20 cents a bushel Livestock corn fell 10 cents oats 6 cents and soybean oil 100 points Soybean meal was down about a ton just one half of its limit At the close soybeans were 14 to 20 cents lower May 5 23 Chicago wheat 20 lower Mav 3 41 v2 Gulf hard red not traded corn 10 lower May 2 51'4 and oats down 6 cents May Grain quotations Monday Wheat May Jul 337 3 40'z Dec 3 47' 2 Mar 3 53 Corn Mav 251'z Jul 252 244J. Dec 2 Mar 2 36 Oats 1 16'z Jul 1 I83j 1 22 Dec 1 27'j Mar 1 S6 Sep Sep Sep Imperial Oil A lost to Gulf Canada to Inco to and Aquitaine IVs to Sherntt Gordon Mines slipped to Hudson Bay Mining to and Dickenson Mines to Total pete dropped to Ranger to and United Canso to Penmngton's Store gained to and Dynasty Explorations V4 to Explorers fell 14 cents to 78 cents on a volume of 21 500 shares traded VANCOUVER Prices were down in light trading on the Vancouver Stock Exchange Monday Volume at the close was 2 087 801 shares In the industrials Canterra was down 04 at 54 on 14 200 shares Computrex was unchanged at 40 on 8 500 shares. Newmajk was up 10 at 35 on 4 100 shares and EDP Industries was unchanged at 15 on 3 000 shares Captain International was unchanged at 40 and Grouse Mountain was down 10 at 52 30 In the mines Yukon Gold was down 05 at 36 on 343 100 shares Hallmark was down 05 at 85 on 117 000 shares QC Explorations was unchanged at 25 on 112 500 shares and Carolm was up 02 at on 43 200 shares Henrietta was unchanged at 22 and Pegasus was unchanged at J2 10 In the oils Seneca Development was unchanged at SI 14 on li 000 shares Vargas was up 01 at 13 on 9 500 shares Cop Ex Mining was down 04 at 36 on 8 000 shares and was down 02 at 30 on 8 000 shares was up 18 at SI 38 and August Petroleum was down 01 at 47 Winnipeg grain Calgary CALGARY Receipts to 11 am luesdav I rom the Calgarv public totalled about 1 400 head slaughter cjttle with the bulk being Trade was dctive with a broad denund lor steers and heilers Sldughler sold fullv with l.iM weeks close Heifers sold sltddv were jll in the lower with D1 grades selling steadv jnd D4 grjaes a lull or more lower Bulls sold steadv Steers Al and 2 50 50 to 51 70 AJ 49 50 to 50 W Heilers Al and 2 46 to 47 70 A1 45 to 46 Cows DJ iO to 32 50 D4 2 i to 29 Good bulls 34 to 3b Replacements were in short supplj being mosllv thin hellers neighing 551 to 600 pounds and selling slcddv Good leeder heilers weighing 551 pounds jnd up iS to 43 There were no hogs sold lo 11 a m WINNIPEG Prices turned around at mid session todaj on the Winnipeg Commodity Exchange with most futures erasing opening losses Although activity was light rapeseed gained as much as 13'A cents a bushel Most months of rye and flax made moderate gams Monday s volume of trade was 718 000 bushels of flax 945 000 of rapeseed and 1 148 000 of rye Mid session prices Flax May 2 higher 10 01B July 1 higher 9 85B Oct 7 higher 9 27B Nov e'AhigherBgy'zB Dec 25 lower 7 88B Rapeseed Vancouver June 12 higher 6 67B Sent 10 higher 6 30B Nov higher 6 OOB Jan 13'j higher 5 92B Rapeseed Thunder Bay May 8 higher 6 58B July 9 higher 6 17B Oct 5 higher 5 72B Nov 9 higher 5 72B Rye Mav higher 2 28B July 5'4 higher 2 28B Oct 5'2 higher 2 25B Dec 4224-2 B Grain '-i 2 'j Earnings By THE CANADIAN PRESS Asbestos Corp Ltd three months ended March 31 1974 800 30 cents a share 197J 900 Brenda Mines three months ended March Jl 1974 662 000 86 cents d share 1973 623 000 38 cents CFCN Communications Ltd three months ended March 31 1974 14 J cents a share 000 11 7 cents Canadian Cabresyslems Ltd six months ended Feb 28 1974 034 135 52 tents a share 1973 785 846 45 6 cents Canadian Occidental Petroleum Ltd three months ended March 31 1974 SI 400 000 21 cents a share 1973 SI 017 000 15 cents Charter Industries Ltd jear ended Dec II 1971 5 cenls a share 1972 H2 loss 8 cents Crows Nest Industries Ltd Year ended Dec 31 1973 9 million 87 a share 1972 7 million J2 28 Dickenson Mines Ltd three months endeo March Jl 1974 000 26 cents a share 1973 000 7 7 cents Dominion-Scottish Investments Ltd three months ended March 31 1974 677 3 cents a share 1973 197 3 cents Donlee Manufacturing Industries Ltd 11 1973 7 rents a share 1972 030 53 cents East Sullivan Mines Ltd six months ended Feb 28 1974 822 440 43 cents a LONDON Closing metals share 1973 Oil 621 16 cents bid ask in pounds sterling a metric Four Seasons Hotels Ltd ton silver in pence a trov ounce ended Dec 31 1973 922 106 56 2 cents 11851290 futures a share 1972 48 1 cents Hog prices EDMONTON Average prices to 11 a m Tuesday provided by the Alberta Hog Producers Marketing Board Mondav. prices in brackets Edmonton 3675 Calgary 3650 Red Deer 3675 Grande Prairie Nil Lloydmmster Nil Fairview Nil Lethbndge Nil Fort Macleod Nil Hogs sold to 11 am Mondaj 11 859 average 25 50 860 average 36 78 total Sows Metals I 1 35 4 futures 4 025 4030 306 307 futures 312 313 840-850 futures 775 780 214 215 2237 3 months 222- Dividends By THE CANADIAN PRESS Dividends are quartet Iv unless otherwise noted Canada Cement Lafarge Ltd 15 cents Mav 31 record Nav 10 6'z per centpfd 32 cents June 20 record May 23 El Paso Natural Gas Co 25 cents U S funds Jure 29 record Mav 24 Ltd class B 6 4 cents since listing May 3 cents Mav 15 GBC Capital Ltd three months ended March 31 1974 551 4 4 cents a share 1973 254 3 cents Gait Malleable Iron Ltd three months ended March 31 1974 992 1973 Jannock Corp three months ended March 31 1974 899 000 29 cents a share 1973 629 000 23 cents Maple Leaf Mills Ltd three months ended March 31 1974 000 77 a share 1973 SI 099JWO 67 cenls Mesa Petroleum Co jear ended Dec 31 104 100 75 a share 1972 Slo 651 603 55 NeHconex Holdings Ltd nine months ended March 31 1974 37 cents a share 1973 060 165 51 cents Placer Development three months ended March 31 1974 640 000 13 a share 1973 030 000 59 cents Reader s Digest Association Canada 51 Hawker S.ddeley Canada Lid cents Juh 16 record Juna 28 per- cent nfd lulv 2 months 8 W cents a 000 39 cents Systems Diraemioos Ltd nine New York by RichardMm Securities of Amr TIT Wooiworih Anaconda n 00 Westmghouae Elec Steel 3175 US Steel Chrysler 1700 Gen Tel Elec Comsat 32 25 TORONTO AVERAGES Dupont 17587V7 20 Industrials 19507 down 346 General Motors 48 20 Golds 485 31 down 1480 Gulf 21 10 Base Metals 87 07 down 3 32 Int Harvester 15 Western Oils 212 28 down 9 17 Kenn Copper 38 37Vi Volume i 213 000 Montgomery Ward 25 00 NEW YORK AVERAGES Sears 02 00 20 Industrials 849 96 up 5 08 Exxon 20 Rails 173 16 up 03 Texas Gull 15 Utilities 7863 up 31 Texas Co 27 50 65 Stocks 258 82 up 1 10 Cornnrjilinn 1A VJ.M c lAnnnn 9 44 23 Revelstoke Companies Lid 6 per- cent ftoval Trust Co Mortgage Corp 5- pcr cent pfd scries A 50 cents semi annualh Juh 2 record June 14 St Lawrence Corp Ltd 25 cents Aug 1 record Julv 2 25 cents Nov 1 record Oct 1 Spar Aerospace Products 2 rents June 14 record 28 futures WINNIPEG Live beef futures close Tuesday Mav 48 55N JuK' 49 fiOB Sept 49 60B Nov 51 OCA Fndav s volume 20 contracts Gold future WINNIPEG Gold futures U S funds Winnipeg Commodity Exchange close lulv H Ih7 90 Ocl m 00 Jan 75 10B Apr 184 20B Julv 191 20B F rifl IV s vnlnnlp cenls a share 1973 000 21 cents Superpack Corp Ltd year ended Nov 30 1973 24 cents a share 1172 profit 28 cents three moiths ended Feb 28 1974 985 loss 4 rents a share 1973 914 4 cents United Corporations Ltd year ended March 31 1974 531 cents a share 1973 no comparable ligures MONTREAL Tuesday's mid-day foreign exchange wiling rates 'supplied by the Bank of Montreal Australia dollar I 4425 Bermuda dollar 1 02 China renmmbi SIM Trance franc 2020 Germany mark 4040 Italy lira 001570 Japan yen 003505 Mexico peso 0800 Spain 0170 Switzerland franc 1380 United States 9660 United Kingdom pound 2 1750 USSR ruble 1 2781 Df-SYSTON Granular Controls all aphids including strains resistant to chlorinated hydrocarbon insecticides control up to 6 to B weeks after application No protection gaps Protection starts the instant plants emerge. More natural insect control Insecticide inside the plant can't destroy beneficial insect populations when applied as directed For clean healthy potatoes give apmds and leafhoppers a smack lhei' suckers the instant they sit down to dinner Apply DI-SYSTON Granular as you plant Your dealer has it now HESPONSftbility lo you nature CHEMAGRO LIMITED '7 City Centre Drive Mississauga Ontario ;