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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 11, 1973, Lethbridge, Alberta Friday, May 11, THI IITHMIDOI HtKALD 17 x Stock prices dip in active trade TORONTO (CP) Prices on the Tccrato s'.ock market were sharply lower, although golds managed a new high, in active mid-mcrmng trading today. The industrial index, consid- ered the major indicator of maret tend, fell 1.46 to 217.56, base metals .02 to 101.25 and western oils .74 to 232.68. Golds rose 3.35 to 296.20. Volume by 11 a.m. was 000 shares compared with 000 at the same time Thursday. Advances outnumbered de- clines 151 to 100 while 166 issues were unchanged. Food prccessJig, merchandis- ing, steel and real estate stocks wera among declining sectors of market while only banking issues were higher. West-coast Transmission fell to Silver-weed A to S13U, Reichhcld Chemicals 1 to Stslco 1 to and Red- path ZA to i. While Pass and Yukon rose to Albsrta Gas Truck Vs On the Canadian Stock Ex- change, Reprox lost a point to on shares. NEW YORK (AP) Stock market prices continued to slide tower today, as investors wor- ried over the hike in the Fed- eral Reserve's discount rate. The Dow Jones average of 30 industrials, which lost more than 17 points in the two pre- vious sessions, was down 5.11 to 934.23 at noon. Among Canadian issues, Dome Mines rose to Mclntyre 1 to and Granby 14 to Alcan was off to and Ineo tt to to S14% ard AqtLitaine to V2. Lest Rive- fell 35 cv.ts to and Bethlehem Coppsr tD Among gold issues, Camflo rose five cents to Pamour 10 cents to S5.85 and Little Long Lac 10 cen's to S2.60. I Pan Ocean was down while Scurry-Rainbow gained to Grain prices Winnipeg grain WINNIPEG (CP) Rape- ssed dropped the 10-cent daily trading limit at mid-session to- day on the Winnipeg Commod- ity Exchange. With the market generally weak in light trading, flax WES also off the previous close by six to eight cents. Rye was moderately higher iin a fair trading volume with deferred months slightly MONTREAL Prices wero clown in all sectors in light trading en the Montreal stock today. Chmbrsd on tha Mon- treal end Canadian stock ex- changes at 11 a.m. was S58.700 shares, comp-red with shares at the same time Thuis- day. industrials drooped 1.27 to 236.S2, the composite 1 to 221.74. papers .75 to 119.76, utilities .46 to 157.19 and banks .17 to 267.19. On the Stock Ex- change. fell IVa ta S31, West Coast Transmission Pi 1o Woodward Stores to 52612, ImssOD I11 to and Metropolitan Stores 7s to Beef futures WINNIPEG (CP) Live beef futures close Thursday. May 43.25B: July 43.00; Sept. 41.90A; Nov. 41.ION. Wednesday's volume: Two contracts. l mere tbsn one cent higher. to Oais and barley wars slight- ly lower with only the cash month in cats VB higher. De- ferred mcaihs were fractional- ly lower to more than a cent lower in barley. Thursday's volume of trade was bushels of rape- seed, busbds of flax end bashed of rye. Mid-session prices Flax: May 6 lower S.41B, July 7 lower 5.31B, Oct. 8 low- er 5.05B, Nov. 7V'Z lower Rapsseed Vancouver: June 10 lower Sept. 10 low- er 3.95A, Nov. 10 lower 3.85B, Jan. 934 lower 3.80A. Rapeseed Thunder Bay: May 10 lower 3.97UA, July 10 low- er 3.88A, Oct. 10 tower 3.70V4A, Nov. 9 lower 3.68A. Oats: May Vs higher July JA lower l.ieyjA, Oct. lower Dec. not open. Barley: May lower July l lower Dec- not Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noxi today was down 1-25 at 4-25. Pound sterling up. 17-50 at 19-50. Oct. 1V4 OTJOH Rye: May higher July higher 1.60, Oct. Ui higher Dec. 1% higher 1.62VaA. Grain quotes Thursday (basis Low High Flax May 558 Jly 548 Oct 528 Nov 518 552 530 514 498 Rapeseed Vancouver June Sept 425 405 Ncv 414% 395 Jan 402 CAUGARY POWER ANNOUNCEMENT May Jiy Oct Ncv Oats May Jly 117U Oct Dec Barley May 169'i Jly Oct Dec Rye May Jiy Oct Dec Alex.L. Metcatfe, P. Ag. M. M. Williams, Executive Vice President of Calgary Power Ltd., announces the appointment of Aiex L. Metcalfe.P.Ag., as Economic Development Manager. Mr. Metcalfe's respon- sibilities include activities that will encourage and stimulate the economic development of Alberta, continuing a long-estab- lished service provided by Calgary Power Ltd. Mr. Metcalfe joined the company in 1961 as Agricultural Consultant in the Economic Development Section after 10 years of service to the food irtdustry as a production and quality control consultant. He is a past president of The Alberta Institute of Agrologists, a member of the Agricultural Institute of Canada and a former i.TTibor of the American liiGustrial Development Council. Close 547 538 514 498 407Vi 405 395 Rapeseed Thunder Bay 424'i 159 163 167 164% 398 116 164 16112 157 155" s 1587s 407% 398 377 16034 111 108: s 166 162% 158 s 162% 160'i Mining industry needs changes to get support vi VANCOUVER (CP) The presideat of one of Canada's largest mining companies says the industry will have to make some changes if it is going to have public support while it manages resources at a profit. "For many years the mining industry was the darling of the business world and it never had to explain its role and the con- tributions it has made to Can- ada's economic Gerald H. D. Hobbs, newly- elected president of Cominco Ltd., in an interview. But he said the mining in- dustry has done a poor job of explaining its role to the public and the politicians. Food prices up Increase in the prices of eggs, pork, beef and poultry pushed the food index erf th- consumer price index up 156.2, an increase of 2.6 per cent over March 2.6 per cent increose in food prices was in sharp contrast to the aver- age March-to-April increase of eight-tenths of one percent for the last two years. In- dex is based on 1961 prices equalling TOO.__________ .____________ Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCnaig Limited) LAST BID OR SALE Quoits) a.m. Quotes) F WESTERN OILS AND MINES Gas Alta East Alminex Asamera Ashland BP Canada Brenda Mines Can Soutn Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Granisle Gt Plains Gt Cdn Oil S Lochiel Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pele Pan Ocean Peirol Pinnacle Place Gas Ponder Ranger Scurry Rain Seibens Spooner Total Pete Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aguitaine BC Sugar Pfd Block Bros Brinco Cdn Brew A Cdn Brew B Cdn Pacific Inv Crestorook Ind Crowsnest Ind e.eo 160 9.70 1250 15.00 5.50 4.15 3.50 740 8.00 .21 49.50 4 DO 11.00 880 .31 295 o.75 3000 8.90 2.30 1.64 1.33 800 15.75 1375 Cygnus A Cygnus B Falcon Copper F and M Trust Genstar Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E War Inter Prov Pipe Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete p w Air Pe-Ben Rainier Inc Royal Trust St. Maurice Cap Sandwell Teledyne West Cdn Seed 7.75 Cdn Invest f 5.21 5.71 7.75 Col Mutual 5.70 6 26 cmnw Inter 15.55 17.09 6 Cmnw Lev 4.01 4.41 1725 Cmnw Vent 7.BS 8.64 41 Corp Invest 6.34 6.94 36'ofl Corp in St F 5.18 5.69 Dreyfus F U.S. 11.58 12.69 i475 Great Pacific 6r ln Shares Gr Equity Invest Gr F 4300 Invest Mutual 735 Mutual Ac g'c0 Mutual Gr F Nat Res N W Cdn N W Gr Principal Gr Royfund Temp Gr United Ac Universal Sav Univest------------ Vanguard 666 7.30 4.76 5.20 3.88 4.27 8.24 9.05 12.63 13.81 5.91 4.46 6.17 3.64 4.01 7.87 8.60 560 15 5.23 575 4.46 4.69 682 709 f.48 10.36 5 29 5 81 7.99 S 73 5.96 ett have had an effect. "I think a very significant larapening of activities by the mining industry has taken place as a result of these he said. 'This dampening effect will continue. Mining is like gardcn- ng: You have to look after it if t is to do well." Earnings up CALGARY (CP) Industries Ltd. earned or 23 cents a share during the three months ended March 31 compared with or 2 cents a share a year earlier. Gross revenue was an increase of U.S. gasoline t rationing ruled out New York Times Service WASHINGTON The Nixon administration announced yes- terday a voluntary "share the shortage" plan for allocating oil and gasoline. Emphatically ruling out ra- tioning of how much gasoline individual motorists may buy, the administration outlined a non mandatory approach in- tended to insure that major oil companies do not cut off de- liveries to independent refiners and gasoline stations, thereby putting them out of business. It also aims at keeping fuel flowing to priority users notab- ly farmers, health and police agencies and public transporta- tion. Neiv York stocks (Supplied By Rieharflson Securities of Canada) Am.- T and T Anaconda Steel Chrysler Comsat Dupont GM Gulf Int Harvester Kenn Copper 5350 18.62VJ 30.00 51.00 177.00 Sears X-Ron Texas Gulf Texas Co Wickes Corp Woolwcrth Golds 296.92 up 407 10 Base Met 101.14 off .11 22.121'j 15 W Oils 23258 Off .84 35 Volume 23-53'2NEW YORK AVERAGES Westinghouse Elec 33 30 Indust 934.23 off 5.11 us steel 3350 20 Rails 181.41 off 182 Gen Tel Elec Utilities 108.29 U.C. TORONTO AVERAGES 65 Stocks 291 18 off 1 <3 20 Indust 217.25 off 1.77 Volume Funeral homes in U.S. hands OTTAWA (CP) are 40 funeral homes in Canada not controlled by Canadians, the Commons was told yester- dav. All are owned by two Uni- ted States companies. Consum- er Affairs Minister Herb Gray said in a written reply to Gor- don Towers (PC One company controlled 26 of these, the other 14. Mr. Gray said there is no record of any other foreign-con- trolled funeral parlors. TOWN NAMES Tavistock, Ont., was origi- nally known as Freiburg, then Inkerman, before being named Tavistock in 1857. 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. t. MACMEIL Ph. 327-2141, 328-6709 After five ----------APPOINTMENTSBBgg UNDERWOOD McLELLAN ASSOCIATES Sl.UVa Dofasco S 75 Cable .43 Glendal: 1200 30.25 19.00 ra.oo 2000 15.75 3600 19.WA 800 BANKS 13.65% Cdn Imo 36 M Montreal 77.12% Nova Scotia 15.50 Royal 10 87W Tor-Dom 30J5 18 34.50 3550 33.25 SIMPSONS Sears CORRECTION On page 34 of Thursday's Herald the item Decorative Comforters should have read: Twin Reg. 8.99 Double iteg. 11.99 We are sorry for any Inconvenience caused Hog prices EDMONTON (CP) Aver- age prices to It a.m. today pro- vided by the Albarta Hog Pro- ducers Mareting Board. Edmonton: 42.15, average Thursday 42.35. Red Deer: 42.10, average Thursday 42.71. Calgary: 42.10, average Thursday 42.52. Lethbridge: No sales, aver- aga Thursday 42.34. Fort Macleod: No sales, av- erage Thursday 42.60. TotaJ hogs sold to 11 a.m. 145, total sold Thursday aver- age 42.39. Sows average 34.75. David E. Martin, P.Eng. Mr. Denis J. Cote, B.Sc., P.Eng., Vice-President of Underwood McLellan As- sociates, and manager of tha company's operations in Cal- gary and British Columbia, is pleased to announce the ap- pointment of David E. Mortin, P.Eng., as head of the Irriga- tion Engineering Division Tor the UMA Group. Mr. Mortin has extensive experience in irrigation engineering on the South Saskatchewan irrigation project, and was re- cently Chief Construction En- gineer with the Conservation and Development Branch, Water Development Division, Saskatchewan Department of Agriculture. Mr. Mortin will be available to UMA clients across Canada. The UMA Group is one of Canada's largest multi-disciplinary en- gineering firms. 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 witft 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.. _______this is where traditional Calgary Hospitality began. THE w Downtown at 9th Avenue and 1st Street S.W. In Lethbridge phone ZE 0-7337 for reservations ;