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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 10, 1973, Lethbridge, Alberta Gold stocks climb to record highs TORONTO (CP) Golds con- tinued to climb to record highs but other prices on the Toronto stock market were generally mixed in fairly active mid- morning trading today. Golds rose 8.26 to 239.90, top- ping the all-time high recorded Wednesday and base metals .16 to 101.06. The industrial index, considered the major indicator of market trend, fell .36 to 219.14 and western oils .03 to 232.05. Volume by 11 a.m. was 000 shares compared with 000 at the same time Wednes- day. Declines outnumbered ad- vances 130 to 122, while 156 is- sues were unchanged. Industrial mining, beverage, oil refining and real estate stocks were among sectors of the market recording losses while bank, communication, merchandising and chemical is- sues were higher. Trading was halted in shares of Kaiser Resources, pending release of information by the company. The trading halts in Westfield Minerals warrants and in shares of White Pass and Yukon Corp. Ltd were contin- ued. Trading in shares of Stuart i House International Ltd. was resumed at the opening. The stock was down to Among gold issues, Campbell Fed Lake rose 2Vz to S59, Cam- 30 cents to and Dome sales 'of Mines 2 to S93 slaughter Mac'aren Power A fell Banks fell .68 to 267.44, indus- trials .57 to 238.29, the com- posite .47 to 225.86, papers .38 to 120.92 and utilities .08 to 157.81. On the Montreal Stock Ex- change. Pacific Petroleum dropped 7s to Union Oil to and Commonwealth Holiday Inns to while Mercantile Bank rose to and QSP yk to On the Canadian Stock Ex- change, Royal Agassiz ad- vanced two cents to 59 cents on shares. NEW YORK (AP) Stock market prices edged lower I again today, as Wall Street wor- ried over Mideast oil talks, im- portant labor negotiations and rising" steel prices. The Dow Jones average of 30 industrials was down 2 76 to 946.27 at noon. Ajnong Canadian issues. Ca- nadian Pacific was up to S187s. Dome Mines 2V2 to and Granby 1% to Alcan dropped Vs to S287s and Hudson Bay Mining and Smelting L4 to Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCaaig Limited) LAST BID OR SALE am. Quotas) a.m. Quotes) a.m. Quotes) WESTERN OILS AND MINES Ind Livestock Calgary livestock CALGARY (CP) Receipts to 11 a.m. today from the Cal- gary public stockyards show 900 head, steers and mostly c o ws. Molson A '2 to demand Peoples Department Stores '-2 to IU International to! 25 '2 to I Trade was active with broad Alta East Gas Alminex Asemera Ashiano PP Canada Brenda Mines Can South i Cdn Ex Gas I Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super i Charter Oils i Chieftan Dome Pete I Dynastv j Fort Relaince Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochiel Lytton Mm Noble N Cdn Oils Numac Pancdn Pets Crowsnest Cygnus A 8 50 Cygnus B 6 55 Falcon Cooper 9 45 F ana M Trust 12 50 Genstar IS home A 5 70 Home B ..20 Hus Bay Co 3 60 Hod Bay Oil 7 15 Hud Bay A Pfd 800 Huqh Russell 21 Vz Husky Oil 49 87l'j Husky B Pfd 400 Husky D War 11 00 Huskv; E War 35 25 inter Prov Pipe 9 00 Inter Prov Steel XL Loblavv C Pfd 3 00 Alagnasonics 75 Pacific Pete 3075 P W Air 9 00 Pe Ben 2 34 Rainier Inc 1 eZ Royal Trust 1 32 sandwell 7 85 Teledyne 1600 West Cdn Seed 2700 7.75 775 14.00 725 17.25 41 50 3800 21 50 4650 55.50 4475 Col Mutual Cmnw Inter Cmnw Lev Cmnw Vent 579 635 1544 1697 3 97 4 36 7 70 Farewell Thursday, May 10, 1973 THE LETHBRIOGE HERALD -47 Pressure mounts on gov't to solve rising food costs pan ocean Petrol Pinnacle Slaughter steers were a full Gas and Toronto Star B Vz t Laurentide Financial rose to S13 and Algoma Steel Bethlehem Coppei was olf S14k. Madeleine 15 cents to and Hudson Bay Mining to Falconbndge Copper gained is to 'Great Plains slipped '2 to and United Canso 30 cents 25 higher with sales to to 44 40 Dairy type steers 37.50 to 40 with the odd sale higher. 1 4 Heifers were in short supply to and sold steady. Cows were in I gocd demand, regaining week's earlv loss of about 50 cents. Scurry Oil Rain Acres Ltd Aquitaine BC Sugar Pfd Block Bros to S6.90. PanCanadian was up to Bulls were scarce and steady. Steers Al and 2 43 to 44.20, A3 41.50 to 42 75. Heifers Al and 2 41 to 42, A3 39.75 to 40.75. i Cows Dl and 2 33.50 to 35. D3' Cdn B-ev 31.50 to 33.25. D4 27 to 3125. Seibens Spooner Total Ulster Pete West Pete W Decalta MISCELLANEOUS INDUSTRIES Gre-.t Pacific Gr In shares Gr Equity Invesr Gr F Invest Mutual 2212Vz Mutual Ac 42.62V2 Mutual Gr F 755 Nat Res 8 30 N W Cdn 9 50 N W Gr 14 25 Principal Gr 31 50 Rcyfund 1225 Temp Gr 29 75 United Ac 11 Universal Sav 7 3212 Univest .j 50 Vanguard 25 CALGARY 3 50 Ac'Oil 4 15 Barons Oil 5 North Continental l os Western Warner 63 VANCOUVER PIPE LINE STOCKS MINES Alta Gas A 14 Alta Gas Pfd 7225 Alta Nat Gas 2050 croyden KI-. Gas 107S 1075 2300 1225 460 66 75 08 00 3650 4225 750 20 00 390 Warren Cooper official- ly ended a 33-year associ- ation with southern live- stock marketing last week at the Community Auction Sales Association yards at Pincher Station, taking the opportunity to present his 8S T1? F fS 5679o8! over a ring Dreyfus F U.S. n.68 12 so j of heavy steers. He has i r i held the post of head auc- t'oneer co-operative group since 1938. Above, he spiels it off one last time, flanked by two re- corders, Mrs. Joanne Bail- er, left, and Mrs. Gail Hodgson, right. 4 77 5 21 3 90 4 30 i 8.24 9 05 I 12 63 1384 I 5 91 6 47 I 619 631 i 3 68 4 05 j 7 "0 8 63 i 5 63 619 i 5 27 5 79 1 45! 4 95 684 7.12 0 44 1034 5.32 5 8S 8 05 8 85 598 457 667 731 13 62V2 Westfield 12 Weston A Pfd .26 53 00 ]687Vi N and C Gas 1250 N and C B Pfd Pacific Trans 7 Gaz Metro Gaz Metro A 7 50 Trans Cds A 5 -5 Ar Cdn Pipe Tr Cda B Pfo Tr Cda War Good bulls 36 to 39. Replacement cattle were I mostly short keep steers and MONTREAL fCP i All sec- heifers selling steady. Insuffi- j cient stock calves on olfer to} establish quotes. Good feeder Cdn Pacific Crestbrook Ind IS 87' 2 vyc Trans 23 15 we Trans WTS 1500 MUTUAL FUNDS 75 All Cdn Com 7.47 550 All Cdn Divid 28 12'2 All Cdn Vent 3300 Amr Gr F nv 29 IS AGF Special 8 00 Cdn Invest F Explor Dankoe Dolly Varden Equatorial Res Lornex Primer Pyramid Silver Standard Valley Copper INDUSTRIALS .03 .01 .35 ?25 S3 81 D4 1 30 50 30 19 875 11 i By VICTOR MACKIE Herald Ottawa Bureau OTTAWA Finance Minister John Turner warned the Com- mons Wednesday not to count on a system of price and wage controls to solve the problem of rising tood prices. He appeared to rule out at this time, as Prime Minister Pierre Trudeau did a month ago, any immediate move by the federal cabinet to invoke its contingency plan for price and wage controls. Meantime the pressure is building on the Liberal minority government to take steps to halt the price spiral. Inflationary conditions within the Canadian economy could build into a new political crisis for the minority administration. The Progressive Con- servatives in the house in- troduced a motion an official opposition oring the -'failure of the govern- ment" to take "concrete and ef- fective action against the rising j cost of living.'' The Conservatives in their motion said the governments failure to act was evident in the price of shelter food and cloth- ing. The opposition party mo- tion urged the government to impose an "immediate freeze" so as to enable it to develop a satisfactory plan in conjunction with the industry and labour, for the purpose of keep- ing the cost of living within "acceptable limits." Under the rules the motion cannot come to a vote therefore it does not pose a threat to the minority government. However it is part of the in- creased pressure by the Tories for wage and price controls, a pressure that if the cost of liv- ing continues to mount through- out the spring and summer, the government may find hard to resist. But in the Commons Wednes- day Mr. Turner said a system of price and wage controls would not solve the food price problem. He pointed out it had not been solved by any prices system in the United States or the United Kingdom. The prob- lem of food is a problem of world shortages of com- modities, he said. When the house opened Wednesday Allan Lawrence ham) asked if the Consumer and Corporate Affairs Minister Herb Gray, had formulated any guidelines for clothing prices this year. He said clothes prices increased 1.4 per cent last month and are expected to go higher in the months ahead. Mr. Gray said any policy along this line would be an- nounced in due course. He also said he had made no inquiries among the clothing industry representatives about their price intentions. However he said he would take under con- sideration a suggestion from opposition, that he make such enquiries. The minister also said he had made no specific requests to any individuals, nor sent out any invitations to individuals as yet to serve on the govern- ment's proposed Food Prices Review board. recessing an stems 1003 4th Avenue S., lethbridge Telephone 328-4426 i vices Grain prices Winnipeg grain WINNIPEG (CP) Oilseeds j continued to gain strength in i trading at mid-session' today on the Winnipeg Cbmrnod-1 ity Exchange. i n Most flax futures were al-1 ,151, j ready at the 10-cent trading hm- j Co! Brew Hys Cdn Key Indust OILS 8 06 8 so Albany Oils 3 84 4 20 Prp Explor 5 62 6.17 Ponderay Expior 2 78 Plains Pete 519 5 6i Stampede Intl Res o2 950 300 525 30 1 13 1 12 1 02 .23 .82 Toronto mines., industrials tors declined in light trading on rhe Montreal stock market to- j steers more than 750 pounds 40 Combined volume on the Mon- to 45 Good feeder heifers more Acme (SnppHed By Richardson Securities of Canada) LAST BID OR SALE frreal and Canadian stock ex- changes al n a.m. was 331.900 m Quotes) MINES .15 than 550 pounds 37 lo 44. Good j stock and feeder cows 27 to 34 Advocate Asb. Akaitcho stccK ana leeaer cows 27 to 34 sraic'ne shares, compared with 284.2001 Hogs sold fob Calgary m at the same time Wednesday age base price 41.90. ____________________ Can N w Land Canada Tung Gold futures WINNIPEG (CP) fu-' tures, U S. funds. Winnipeg Exchange close Hog prices EDMONTON (CP) Aver- age prices to 11 a.m today provided by the Alberta Hog Commodity Wednesday. Producers Marketing Board .Try 73 95.15B: Oct 73 Edmonton- 41.90, average 97.80B: Jan 74 99.90B. Apr Wednesday 4284 74 101.70B, Jly 74 303 73B Tuesday's volume. 16 con- Deer: 4J 90, tracts. Beef futures Red 4190 Calgary: 41 90, a v e r a ge Wednesday 41.87. Lethbrid'ge: No sales. age Wednesday 42.60. Fort Mecelod: No sales, av- CassJar Central Pat. Chimo Conwesf Cons Ranioler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines Deer Horn D'Eldona Dome Mines Donalds Discovery M nes East Malartic East Sullivan Falconbridge Frobex First Mantimes Giant Y K Bovis I Granduc i; Oet 10 75 i I Nov Flax High Low 513 1550 7 70 650 1412' 17.50 22 2650 5 87' 2 85 31 00 18 62'2 3500 518 508 Rapeseed Vancouver Jun 413'4 Sep 416 4091s Nov 40534 400 Jan Close 5J6 338 518 508 417'i 415 405 39934 Rapeseed Thunder Bay across Cinada The ministers criticized the Canadian Wheat Board which restricts such movements. The remarks caine in a two- page statement tabled in the legislature following a meeting last Friday betwen Normand Toupin, Quebec agriculture min- ister and Dr. Hugh Horner, Al- berta agriculture minister The statement said a feed grain policy expected to be announced later this year by The statment said the feed grain problem arose because of' low prices" paid to i western producers. Quebec, on j Anaconda the other hand, had been un-i able to gam access TO reason- ably-priced feed because of the wheat board The statement said a high- level working team would be Montgomery' established between the two provinces to work out concrete proposals for the federal gov- ernment Amr T and T Beth Steei Chrysler Comsat Duoont GM inf Harvester Kenn Copper New York stocks (Supplied By Richardson Secnriiies of Canada) May Jly !0ct Nov Oats May Jiy .Oct 409 ]1712 53 75 1900 30 50 31 25 51 75 17950 71 50 3037' J 2375 X Rci Gul' Texas Co Wekes Corp Wcclworth 99 62' i 20 Golds 29) 33 op f 69 W 62'2 10 Base Met 101 30 up JO 22 50 15 W Oils 231.74 off 34 3775 Volume i May 257! NEW YORK AVERAGES Jlv Wesfmghouse Else 3J 25 30 Indu-st 81 oft 3 23 US Steel 3J50 20 Rails 18469 off 77 Gen Tel Elec 2962 215 Utilities 108.64 up 15 TORONTO AVERAGES 65 Stocks 294 73 off 82 20 Indust 21905 orf 45 Volume Community Outreach Program Society Invites applications for the position of FULL TIME CO-ORDINATOR Applicants should be familiar with the "drop in center" concept and must be able to communicate with young people Salary per month. for further Information and applications MR. J. L. MACKEIL Ph. 327-2141, 328-6709 After five No Conservative support tax system proposals ;0rt J61'4 Dec 15812 162 166 _ May Jly Oet Dee 38J 1J5-4 112 16P 165' 157 162-4 390' 4 378 117'2 117 166's 1601; 158U 158 161 165 162 VANCOUVER (CP) Pro- gressive Conservatives will not support ''across-the-board dis- tortions1' proposed for the cor- j porate tax system, Robert Stanfield said Wednesday night. The party will support fast depreciation write-offs for this year and next, plus corporation tax cuts for this year only, he told a political fund- raising dinner. Hovever, there would be no Conservative support for Fi- nance Minister John Turner's original plans to make these measures a continuing part of the tax system. They are contained in Mr. Turner's budget of one year ago and still have not been voted on by Parliament. The New Demo- cratic Party, whose support has kept the minority Liberal gov- ernment alive, is against the corporation tax cuts in any form. The cuts and write-offs would apply only to companies in the manufacturing and processing industries. Fuel shortage al Billings BILLINGS, Mont.