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Lethbridge Herald, The (Newspaper) - May 13, 1974, Lethbridge, Alberta 20 LETHBRIDGE HERALD May 1974 Economic outlook for Canada good WASHINGTON Canada's economic prospects for 1974 appear to be comparatively a top Canadian business executive reports. Neill E. vice- president and economic adviser with the Bank of in a report submitted to the 7th general meeting of the Pacific Basin Economic Council was more optimistic than his counterparts from the United States and Japan. the pace will certainly Currie's report says. the economic outlook for Canada nevertheless looks quite good in comparison with forecasts being made in other major industrialized The report was one of several submitted to the meeting of business executives from the U.S.. New Zealand and which ends Wednesday. John L Gilhs of St. vice-president of Monsanto for the and Toshiwo Doka. chairman of Tokyo Shibaura Electric Co for were less optimistic in his U.S. economy is in re- cession. How deep it will go is the issue. Most economists are forecasting a soft Banding in 1974 with real gross national product growth at about one per cent and only one-quarter of negative growth tew are forecasting something more one per cent real GNP growth and three quarters of negative growth in 1974 for outlook will depending on several factors. The present is generally for one Stelco has no s teel for BCR VANCOUVER Canada's largest steelmaker has told the British Columbia Railway that it cannot supply the railway's new car now nearing completion at B C. Steel of Canada Ltd said it has no steel to spare for the BCR's million car facility. The plant is scheduled to begin production in seven months behind to produce four vehicles a day for the equipment-short provincial railway. Spokesman for Stelco and Dominion Foundries and Steel Ltd of said they do not believe B.C. can obtain cheap steel from Ja- pan. Industrial Development Minister Gary Lauk said recently after returning from Japan that the Japanese steel industry agreed to increase shipments to B C by 22 per cent to offset a predicted shortage of tons of steel in the province this year. Mr Lauk said the price would be substantially lower than steel from Eastern Canada. Both Stelco and Dofasco are working on an allocations basis and are not opening new accounts with steel seekers such as BCR. SALESMAN of the month Dave Neufeld Tom Sales man- ager of Astro Realty is pleased to announce that Dave Neufeld was Astro's top salesman of the month for 1974. If you are buying or sell- Ing property why not give Dave a call 345-4702 ASTRO REALTY LTD. 3217741 to five per cent in terms of real growth The rising trend is expected to ease slightly with the permeation of austerity measures. the in- creased prices of crude oil will continue to show their effects in the months to Currie's report says Canada should see an increase in real GNP the five-per-cent possibly will continue to be a major problem and the rise in the implicit price index seems likely to exceed that recorded in the past year the Canadian economy has shown remarkable vigor which has continued to be in evidence so far this Canada open investor WASHINGTON Business executives from countries bordering the Pacific Basin were told today that Canada is of -the most open countries in the world for making new in- vestments In a paper prepared for the 7th general meeting of the Pa- cific Basin Economic John D. Wilson of senior vice-president of Canada Trust reported on Canada's Foreign Investment Review Act that came into force last April. He said the act should not be interpreted as a deterrent to foreign investment. Wilson's paper was one of a number prepared for Council committees by chairmen of Canadian sub-committees chairman for Canada the council's international investments said the act certainly not new on the international scene and is per- haps overdue in Canada when one considers that a major percentage of Canadian Canadian petroleum products and Canadian mining is already under foreign control these circum- the Canadian government has taken steps to assure that Canada will have a measure of control over future investments Wilson said that to avoid discouraging foreign firms from providing needed capital venture to Canadian act permits a takeover as long as the foreign firm divests itself of any type of control and reduces its ownership within a certain up to a maximum investment of million per Canadian business. Expect drop in egg price SASKATOON The price of eggs in most Saskatchewan retail stores should drop three cents a dozen in this says Harold a director of the Saskatchewan Commercial Egg Producers' marketing board. The decrease is due to a decision by the board to pay lower prices to he said in an interview. IN MEMORIAM LASTL'KA In loving memory of a dear father and grandfather Dan who passed away May 1967. A special place wiLiiir. our hearts. Is set aside for As long as life's memories last. We will remember you. remembered by his wife Yvonne and all the family. X5138 CARD OF THANKS SPITZER My sincere thanks to the doctors and nurses on Third Main of St. Michael's Hospital. A special thanks to the Empress Foods Research A.N.A.F. the family and friends for the beautiful cards and visits I received there. You all helped the time go quickly until I was abfe to be up and out again. Spitzer The Herald- Business Light mid-morning trade Stocks Miscellaneous Montreal by WESTERN AND Afton Albany Alta East Ashlaid BP Brenda 87 Cda Cdn Export Cdn Cdn Ind Cdn Long Cdn Chieftan Dome Ft Giant 35 Gibraltar Gramsle Great Grt Cdn Lochiel 10 Lytton 90 Noble North Cdn Numac PanCdn 00 Pan 00 85 Place Ranger Scurry Total 87 Ulster 21 United West 75 West Acres 87' t BC Sugar c 00 Block Can Pac A 37' j Carlmg A 00 Carlm B 50 Com Capital 40 Crest Crowsnest Falcon 37 Vz F M 50 Home Oil Home Oil Hud Bay 62' z Hud Bay Hud Bay A Hugh Russell C Husky 12'j Husky Oil B Husky Oil D 36 Husky Oil E Inier Pipe Inter S 75 Kaiser Kaiser Res 66 Loblaw 2 40 G Pacific Pac West 12'z Pe-Ben Pamer Royal Sandwall Teledyne Tnmac Canbra Foods West Minerals Weston A Pld Whitepass Yukon 6.50 3.80 600 3.35 105 5200 7.50 PIPELINE STOCKS Alta Gas A 1200 Alta Gas 4V. Pfd 55 00 Alta Nat Gas 18.25 Gaz Metro 5.75 Inland Nat Gas N C Gas N C Gas B Pfd 21 00 Pac Gas Trans Tr-Cda Pipe Tr-Cda Pipe A Pfd Tr-Cda B Pfd 31.50 Tr-Cda Pipe War 4 00 West Trans 20 25 West Tr War 2 65 CALGARY Acroll .47 Barons Oils .09 N Continental .02 Western Warner .30 VANCOUVER MINES Atlas Explorations .34 Bathurst Norsemmes 1.42 Dankoe 2.80 Davenport .65 Dolly Varden 27 Equitonal Res 11 Lornex 8 05 Northair Mines 2 60 Primer .05 Pyramid .10 Silver Standard 230 Valley Copper 7 00 INDUSTRIALS Columbia Brewing 270 Key Industries .09 Wardair 1.65 OILS August Petroleum 36 Ponderay Explorations 85 Stampede Intl Res 70 MUTUAL FUNDS All Cdn Compound 5.77 6.27 All Cdn Dividend 6.06 6.59 All Cdn Ventures 3.13 340 Amer Growth Fund 4 39 4 82 A G F Soecial 2 23 Cdn Invest Fund 4 57 5.01 Collective Mutual 472 5.18 Comnwlth Inter 13.04 Comnwlth Leverage 3.06 Comnwlth Venture 2 98 Corp Investors 5 70 6.26 Corp Invest Stock Fd 4 35 4 78 Dreyfus Fund US 10 11 11.08 Great Pacific 4.33 4 73 Grouped In Shares 282 310 Growth Equity 6.37 7 00 Invest Growth Fund 1109 1212 Investors Mutual 5 28 5.78 Mutual Accum 5 91 6 17 Mutual Growth Fund 290 319 Nat Resources 4.29 4 72 NW Cdn 5.10 5 SO N W Growth 4 31 4 74 Principal Growth 5 77 6 30 Provident Mutual 692 756 Royfund 6.16 6.42 Templeton Growth 7.44 8.16 United Accum 415 456 Universal Savings 7.43 823 Univest 551 605 Vanguard 556 609 Toronto industrials by Richardson Securities MINES Acme Advocate Asb 1 05 Akaitcho 1 85 Bralorne 1 go Broulnn 53 Bethlehem 12 25 Bovis 1 58 Brunswick 4 60 Can NW Land 5 87 Canada Tung 3 65 CasS'ar Central Pat 88 Chimo i 15 Conwesi 3 85 Cons Rambler 2 99 Com Lake 22' 2 Cochenour i 82 Craigmont 5 62 Dickenson Mines 8 00 Denison Mines 40 12 i DEIclona 42 Done M.res New 5000 Qiscove-y M.nes 2 25 Easl iJlala-tic 5 East Sullivan 2 80 Falconbr dge 19 50 Frooex 23 First Manlimes 53 Giant Y K 15 00 Grariduc 2 26 Holhnger 35 00 Hudson 2000 Hyara Ex 78 Iron Bay 4 65 Iso 1.50 Joliet Quebec 23 z Kerr Aadison 12 00 Key Anacon 29 Labrador 31 50 Lake Shore 5 00 Langis S Iver 12 Madsen R L 210 Mala'iic Gf 1 70 Martin McNeely 41 Maclntyre 40 00 Meta 17 Midrim 16 Intern Mogul 7 75 Nu West Homes 6 75 Ntiw Alhona 29 New Calumet Noranda 42 75 Morthgate 5 75 Norlex 26 Po.nt Placer Dev 1950 Pax Exp 1 50 Quebec Man 19'2 Rayrock 1 25 Radiore Rio Algom 27 00 Roman Corp 950 Sherntt Gordon 1050 Steep Rock 1 31 Sunnmgdale 6 00 Tek Corp A 3 25 Texmont 21 United Canso 18 25 Western Mines 2 85 WH Copper Mines 360 Wright Hargreaves 1 85 Willroy 1 75 Windfall 14 Yellowkmfe Bear 3 55 Zenmac 08 INDUSTRIALS Abitibi 11P2'i Alcan 32 50 Algoma Steel 24 62'' Alco Ind 1562 Jannock 7 25 Agra Ind 6 62 Sell Tel 41 12 Brascan 16.12 BC Tel 53 00 Burns BC Forest BC Sugar A Bow Valley Ind Cable CAE Ind Carling 0 Keefe Chemcell Can Cellulose Cal Power Coron Credit CWN Gas Pfd Cdn ind Cdn Marconi Cdn Vickers Chrysler CPR Commco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mobile Grt Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Hawker Sid Hiram Walker Huron Erie Imperial Oil A Imasca Int Nickel Int Pipe Inv Grp A IU Intl Ind Accept Kaps Kel Douglas A Laurennde Loeb Loblaw A Metropolitan Massey Ferg McMill Bloed Moore Corp Molsons A Molsons B Nachurs Norm Cent Power Corp Price Co Peyto Rothmans Shell CDA Simpsons Simp Sears Steel Can Selkirk A Texaco Trad Grp A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Sisooe Versatile Mlg Westeel Westons Woodwards West Cdn Seed Zenith Elec Can Imperial Monireal Nova Scotia Royal Tor Dom BANKS 1237V4 17.12V4 20.00 20.87V4 12.87 9-62V4 295 5 6214 5.62 V4 22.50 230 925 925 3.15 17.00 15.75 14 2700 2475 1537V4 3875 40.25 2600 10.75 14 25 30 37 Vj 29.75 430 8.25 46.00 2375 2800 1625 537V4 4650 2200 27.37 28 12V4 16 62'A 7.25 15.25 290 5.00 8 350 600 1225 17.25 27.75 5000 21 00 2075 650 11.25 13.37V4 6.62Vj 12 15 750 10.87 'A 28 13.12Vi 38.00 9 62V4 1362V4 30 62V4 18 12Vi 10.50 7.25 675 21 00 2000 21 62Vj 3.35 3.00 2650 1737VJ 33.68V4 36.75 New York by Richardson Securities of Amr 4725 Woolworth 17.12V4 Anaconda 2725 Westmghonse Elec 1600 Beth Steel 32 87Vi U S Steel 44 75 Chrysler 1650 Gen Tel Elec Comsat 35.75 TORONTO AVERAGES Dupont 17400 20 Industrials 194 02 down 2.43 Motors 47 00 20 Golds 468.87 down 1.57 Gulf 21 00 10 Base Metals 87.60 down .77 Inl Harvester 2600 15 Western Oils 204.44 down 534 Kenn Copper 36 75 Volume Montgomery Ward NEW YORK AVERAGES Sears 8337V2 20 Industrials 849 49 down .93 Exxon 20 Rails 16952 down 1 58 Texas Gulf 24 15 Utilities 77.32 down .70 Texas Co 2650 65 Stocks 256.77 down 1.09 TSE market prices sharpely lower TORONTO Prices on the Toronto stock market were sharply lower in light midmorning trading today. The industrial widely based indicator of market fell 1.66 to base metals .27 to 88.10 and Market MONTREAL sectors moved lower in light trading on the Montreal Stock Exchange today Volume at 11 a.m. was shares compared with at the same time Friday Banks fell 3 43 to industries 2.96 to the composite 2.41 to 19951. papers 1.10 to 125.32 and utilities .06 to 132 28 Algoma Steel fell 3-4 to 124 Gulf Oil Canada 1-2 to Commodore Business Machines 1-2 to 15 Alberta Gas Trunk 3-8 to and Bank of Montreal 1-4 to 1-2. Among speculative Massval Mines rose three cents to 65 cents on a volume of 17.550 shares traded VANCOUVER Prices were down in light trading on the Vancouver Stock Exchange today. First-hour volume was shares. In the industrials. Great National Land was unchanged at 84 on shares. In the Billy Goat Creek was down .01 at 38 on shares In the oils. Covnex was up .03 at 39 on 5.000 shares NEW YORK The stock market gave ground today under continuing onslaught of record-high interest rates. The a.m Dow Jones average of 30 industrials was down 4 93 at 845.51. and losers overwhelmed gainers by close to four-to-one on the New York Stock Exchange. First National Bank of Chicago raised its prime lending rate this morning to 11.4 per while several other banks joined in a general quarterpoint rise to 11'i per cent begun Friday in the key interest rale Consolidated Edison of New the troubled electric was the NYSE volume up h at Among Canadian issues. Dome Mines gained I'zai Mclntyre '2 at Massey Ferguson and Canadian Pacific at and S145s re- spectively Inco fell to Alcan 'if to and Hudson Bay was unchanged at western oils 4.76 to 205.02. Golds gained 2.31 to 472.75. Declines outnumbered ad- vances 222 to 53 while 164 issues were unchanged. Volume by lla.m. was 000 shares up from at the same time Friday. Stelco lost IVs to Pa- cific Pete IVs to Imperial Oil A 1V4 to Algoma Steel to and General Motors Dickenson fell to Que- bec Sturgeon to North- gate to and Chemalloy 12 cents to Ranger was down 1 to Siebens to and Sunning- dale to International Nickel rose Vs to Bell Canada Vg to Precambrian two cents to and Dome Mines Vi to Winnipeg grain Livestock Calgary Hog prleet CALGARY Receipts to 11 a m Monday from the Calgary public stockyards totalled about 200 mostiv slaughter cows and steers. Trade was moderately active Slaughter steers sold steady with a few sales to 5120 There were no slaughter heifers on offer Cows and bulls traded generally steady. Steers A1 and 2 49-51 Cows Dl and 2 33-35 D3 29 50-33 D4 25-29 Good bulls 31-36 There were insufficient feeder cattle on offer to establish quotations Hogs f o b. Calgary to 11 am average base price 36 Dividends THE CANADIAN PRESS Dividends are quarterly unless otherwise noted Barber Oil Corp 20 cents. April 1. record March 11 Calgary Power 30 July record June 3. 4-per-cent pfd 4'i-per-eenl pfd 5-per-cent pld SI 25. 5 4-per-cent pfd 7- per-cent pfd 7'j-per-cent pfd.. initial since all payable July 1. record June 3 Camflo Mines Ltd 20 semi- annuallv. plus an extra of 10 June 28. record June 12. Economic Investment Trust 10 cents. June 28 record June 12. International Telephone and Telegraph 35 cents U S Julv 1. record May 17 EDMONTON Average prices to 11 a m Monday provided bv the Alberta Hog Producers Marketing Board Friday's prices in bracKets Edmonton 36 00 Calgary 3600 Red Deer 3600 No sales at other points to 11 am Hogs sold to 11 a m. 3.636 Hogs sold Friday 2.578. average 36 17 Sows average 24 35 Earnings By THE CANADIAN PRESS Anglo-Canadian Pulp and Paper Mills three months ended March 31. 1974. S5.945.000 a share 1973 29 cents Blackwood Hodge three months ended March 31 1974 S208 000 9 cents a 1973. S51.000. 3 cents Consumers Glass Co. Ltd.. three months ended March 31 1974 000 .18 cents a share. 1973 000 12 cents. R. L. Crain three months ended March 31 1974. 41 cents a share 1973. 19 cents Halifax Developments three months ended March 31 1974. 5.70 130 loss. 1973 Home and Pitfield Foods Ltd 43 weeks ended Jan 26 1974. 341 000 70 cents a share. 1973. no comparable tig- ures WINNIPEG AH prices except rye were easier today at mid- session on the Winnipeg Commodity Exchange. Rye made small gains while flax rapeseed lost ground in light activity. Friday's volume of trade was 507.000 bushels of flax. 761.000 of rapeseed and 1.050 000 of rye. Currencies MONTREAL Monday's mid- day foreign exchange selling rales supplied bv the Bank ol Montreal Bermuda dollar 1.02 China renmmbi .5275 France Iranc 2040 Germany mark 4050 Japan 003530 Mexico peso 0800 franc 3425 L'nitcd States 9640 Imited Kingdom pound 2 360 S S R ruble 1 2781 Quotations in Cdnudian funds Mid-session Flax- May 10 lower 1038A. July 14 lower 1029A. Ocl 20 lower 9 77 Nov 12 lower Dec 9 lower 8.84A. Rapeseed Vancouver' June lower Sept 1 lower Nov. lower 6 Jan 10 lower 616A Rapeseed Thunder Bay May unchanged 7 23A. July 6 lower 6 67A. Oct 6 lower 7''i lower Rye higher 2 49A. July 'n higher 2 47A. Oct 1 higher 2 45A Dec. higher 2 46A Dollar MONTREAL US dollar in terms of Canadian funds at noon today was down 1-50 at S0.96 11-50. Pound sterling was up 1-10 at 34 1-10. In New York the Canadian dollar was up 1-50 at 03 93-100 Pound sterling was up 3-20 at 43 3-10 CASH AVAILABLE FOR Business Acquisitions A Calgary based corporation with substantial cash resources and wishing to invites proposals to acquire businesses preferably associated with supply and distribution and capital rather than labor intensive. Acquisition of ownership is together with a requirement for reasonable continuity for present management to continue to operate the with the new owners providing financial and administrative direction. This opportunity may be of particular interest to owners or contemplating estate resolution or retirement circumstances. Interested parties are asked to initially provide sufficient information about the nature and size of the business which would permit indication of the range of investment involved. All inquiries will be acknowledged and should be addressed Box 26 The Lethbridge Herald Take advantage of the handicapped. If you hire people. And want committed you should be hiring the handicapped worker. the word is misleading. When a worker is disabled he has many skills remaining that maximize ability and are not affected by his disability. In that he is not handicapped at all. He is an equal competitor at his skill And he asks no favors Most disabled people have developed new skills. They show incredibly high standards of productivity. They appreciate their jobs. And they are stable and reliable. They have a little extra to prove. All they ask for is the chance. A good businessman can spot a solid investment. Hiring the disabled is smart business. Our case histories prove this. Contact our Vocational Rehabilitation Department and see what we have to offer. Then take advantage of it. WORKERS' COMPENSATION BOARD-ALBERTA 9912-107th .-423-6110 ;