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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 15, 1973, Lethbridge, Alberta Timday, May 15, 1979 THE UTHBRIOCE HERALD 19 Golds continue upward trend TORONTO (CP) Golds con- tinued their strong upward mo- mentum but the Toronto stock market's other sectors suffered more severe losses hi active mid-morning trading today. The gold index rose 14 points to 324.20, a new high. The indus- trial index, considered the ma- jor indicator of market trend, was down 5.11 to 206.42, and western oils 4.84 to 220.20, new lows for both. Base metals fell .91 to 96.89. Volume by 11 a.m. was 1.22 changes at 11 a.m. was shares, compared with shares at the same time Mon- day. Banks fell 6.20 to 255.52, in- dustrials 4.59 to 225.18, the com- posite 4.43 to 214.13, papers 3.72 to 111.91 and utilities 2.92 to 151.15. Industrials, utilities, banks, and the 'composite were at their lowest points since No- vember 20, 1972. On the Montreal Stock Ex- change, Andres Wines dropped 8Vs to Dome Petroleum million shares compared with to Southam 1% to 1.09 million at the same time', Ronalds-Federated 1% to Monday. and Ivaco 1% to Declines outnumbered ad- vances by more than four-to- one, 235 to 67, while 150 issues were unchanged. All industrial sub-groups were sharply lower with real estate, industrial mining, commu- nication and paper and forest stocks recording large losses. Among golds, Pamour rose 15 cents to Dome Mines 6 to Campbell Red Lake 2% to and Sigma 1% to Home Oil A fell 1% to Moore IVs to Ivaco 1% to Noranda 1 to and Walker-Gooderham to Placer slipped to Falconbridge Copper to and Sherritt Gordon to Asamera lost 50 cents to Total Pete 20 cents to 80 and Canadian Geothermal 14 cents to MONTREAL (CP) Prices were down in all sectors with four indexes reaching 1973 lows in heavy trading on the Mon- treal stock market today. Combined volume on the Mon- On the Canadian Stock Ex- change, Gold Hawk Mines wos up four cents to 34 cents on shares. NEW YORK (AP) The stock market sagged broadly to- day in active trading as the dol- lar took a beating abroad, gold soared and the old worries of Watergate and inflation contin- ued to plague investors. The noon DOW Jones average of 30 industrials was off at 906.91. The Dow had been off more than 11 points in early trading and pushed through the 900 level, a psychological bar- rier that brought some bargain hunters back in. The Dow had dropped more than 46 points in the four prior sessions. Declin- ing issues on the New York Stock Exchange outpaced gain- ers 3 to 1. Among Canadian issues, Dome Mines dropped 1% to Ihco to and Al- can to Genstar rose to and Hudson Bay Mining tHE WORLD'S FOOD DEVELOPED COUNTRIES DEVELOPING COUNTRIES 1965 1963 1972 Shoiv increase During 1971, the last year with complete statistics, the developing countries of the world increased "their agricultural production about two per cent, reports the Popula- tion Crisis Committee. In per capita terms, however, because of rising populations food production actually declined by one per cent overall. In many developing countries, per capita food production is now below the level of the early 1960s. By contrast, using 1962 as a base of 100, per capita food production in the developing countries has more than doubled. Miscellaneous quotations Vancouver, Montreal (Supplied by Doherty, McCuaig limited) LAST BID OR SALE Quotes) a m. Quotes) a.m. QuoTes) treal and Canadian stock ex- and Smelting to Toronto mines, industrials (Supplied By Richardson Securities of Canada) a.m. Quotu) MINES LAST BID OR SALE r.m. Quotes) a.m. QuaMtl Acme Advocate Akaltcho Bralorne Broulan Brunswick CO NW. Land Cd. Tung Casslar Central Pat Chimo Conwest Cons Rambler Coin Lake Cochenour Dickenson Mines Denison Mines Horn D'Eldona Dome Mines Aldona Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Marltlmes Giant Y.K. Bovis Holhnger Hud Bay M and S Hydra Ex Iron Bay I so Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G F. Martin McNeely Macfnfyre Meta Midnm Intern Mogul Nu West Homes New Athona New Calumet While Horse Cop Noranda Northgate Norlex Osisko Pine Point Placer Dev .14 P C Exp 1.10 Quebec Man 1 47 Rayrock 2 IS Radiore 46 Rio Algom 3 90 Roman Corp S 85 Sherntf Gordon 1 65 Sleep Rock 10.00 Tek Corp 1 JO Texmont 1.48 Upper Canada 670 Western Mines 385 Wright Har. Willroy 1 56 Windfall 4 40 Yeliowkmfe Bear 31.25 Zenmac INDUSTRIALS Abitibi .39 Alcan 1 30 Algoma Steel 3 75 Atco Int) 155 Atlantic Sugar Agra Ind .34 Bell Tel 38 Brazil Trac SBO B C Tel 2 Burns 45 id B C. Forest 21.50 BC. Sugar 34'A Bow Val Ind 3 75 CAE Ind 214 Cdn Brew 33 Chemcell 11.75 Col Cell 22 Calgary Power 43 50 Coron Credit 4.00 C.W.N. Gas Pfd 07 Cdn Ind 1 15 Cdn Marconi 1 20 Cdn Vickers 51 Chrysler 54 50 C P R. .11 Cominco 15Vi Cons Bath 1250 Cons Gas 9 00 Dist Seagrams .22 Dom Bridge .30 Domtar 295 Dom Tex 49 50 Dom Stores i 75 Dome Pete 35 Dofasco .23 Cable 31.00 25 00 Grt Cdn Oil 2.80 Gen Motors .1014 Grt Lakes Pro 1.45 Gulf Oil Cda 30 Greyhound 25 Hawker Sid 6.90 Hur p. Erie 1425 Hiram Walker 1 62 Imp Oil 3.90 Imasca -27 Int Nickel 3.25 Int Pipe 3 10 !nv Grp A 1 33 Util 1.13 Ind Accept 14 Kaps 3 70 Laurentide .07 Kelly Doug A Loeb Loblaw A 106314 Met Stores 27 Massey Ferg 16.50 McMillan Blot W50 Moore Corp 7.25 Motions A 10.2S Molsons B Nachurs North Cent 5475 Power Corp 17.75 Price Co 16 50 Rothmans 1775 St. Law Crop 30.25 Shell CDA 1 Simpson's SOO Simp Sears 425 Steel of 270 Selkirk A 27.00 Texaco 1 85 Traders Corp A 11.00 Trans Mtn Pp 1600 Trans Cda Pp 405 Union Gas 12 7S Union Oil 2900 United Siscoe 17.25 Versatile Mfg 28 00 Westeel Union Carb 15.25 Weston's B 3025 Woodward's A 36.00 West Cdn Seed 18 62iA Zenith Elec BANKS 13 Cdn Imp 34 25 Montreal 26.50 Nova Scotia Royal 10 00 Tor-Dom 880 69.50 21 00 32.25 1925 405 29.00 57 3875 29.00 24.25 1025 1700 750 1275 650 4.35 625 2000 1750 2900 5000 2325 2375 8.25 10 11.50 15 1300 19.25 1725 975 1300 3000 14.62VJ 5625 1575 WESTERN OILS AND MINES Albany Oils Alta East Gas Almmex Asamera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Oils Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Granlsle Gt Plains Gt Cdn Oil S Lochiel Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Scurry Rain Seibens Spooner Total Pete Ulster Pete West Pete W. Decalta Falcon Cooper F and M Trust 1 10 Genstar 780 Home A 615 Home B 8 75 Hud Bay Co 11 25 Hud Bay Oil 1450 Hud Bay A Pfd 515 Hugh Russell 403 Husky Oil 3 20 Husky B Pfd 670 Husky D War 7 50 Husky E War 18 Hys of Canada Inter Prov Pipo 4 00 Infer Prov Steel 9 80 Kaiser Res 3400 Loblaw C Pfd 8 50 Maarasomcs Pacific Pete 2 60 P W Air 1000 Pe-Ben Oilfield 2900 Ra.mer Inc 8 70 Royal Trust 2 27 St Maurice Cap 1 54 Sandwell 1 18 Teledyne 7 20 West Cdn Seed 14 00 Westfield Mm 13 50 West War 19 25 Weston A Pfd 1 23 White Yukon .25 1300 Cdn Invest F 5 07 5 56 6 00 Col Mut 16 Coyiniw Inter 15271678 3300 3600 1925 4550 5550 3" 00 20 25 Cmmw Lev Cmmw Vent Corp invest Crp Invest St Drey Fd U S. Grt Pacific Grp In Shares 42 Grth Equity 670 Invest Gr Fd 7 7S Invest Mut 5 12'. Accumu o 25 Mut- Grffi Fd 1375 Nat Resource 3 20 N W. Cdn 31 50 N W GroA'th 12 00 Princ Grth 29 00 1CSD Temple Grth 6 Unted Arcum 5 12'2 Umvcr Sav 392 431 7 69 a 613 673 502 551 11 15 1222 473 517 3 74 4 12 7 91 8 69 1247 1363 5 85 6 41 6 00 6 60 48 3 S3 833 600 552 4 67 2500 1 05 3 '0 4 :o U-nvesf Vanguard 762 546 502 425 682 70? 9 64 10 54 507 557 7 74 8 M 5 89 6 43 643 710 1 12 o, 6200 1 75 PIPE LINE STOCKS V 00 7? 25 20 MISCELLANEOUS INDUSTRIES Acres Ltd AquitaJne BC Sugar Pfd Block Bros Cdn Brew A Cdn Brew B Cdn Pac Inv Crestbrook Ind Cygnus A Cygnus B Alta A 40 Alfa Gas Pfd 16 Alta Nat Gas Inland Nat Ga: .47 N and C Gas 695 N a-id C B Pfd 1.19 Pacific Trans 6 SO Gaz Metro 5.10 Gaz Metro A Trans Cda Pips Tr Cda A Pfd 1550 Tr Cda B Pfd 2275 Tr Cda War 15 00 WC Trans 2.70 WC Trans War 2750 MUTUAL FUNDS 3325 All Cdn Com 718 7 ES 26 All Cdn Div 775 All Cdn Vent 750 Amer Grth F 7 50 AGF Spec'al CALGARY Acroll .46 Barons Oils 03 N Continental 01'2 West Warner .35 VANCOUVER MINES Afton 8 25 A'las Explor Bath N'orsemme .50 C-oyden 10 Dankoe 1 60 10 25 Davenport 48 Dolly Varden 32 Eauitonal Res 18Vi Lorner 8 75 Primer .12 .16 Silver Standard .65 Valley Copper 9 25 INDUSTRIALS Col Brewing 2 90 Key Industries 30 Wardair 2.75 OILS 775 847 PRP Explor 1.07 4 08 Plains Pete .23 533 591 Pondcray Explo 108 264 Stamp Intl Re .75 2? 25 1225 65 6600 36 37' j 69 50 42 00 750 18 3 25 36 37V2 1050 1550 7.40 6 12.75 17.25 21 25 24.75 5 285 3050 18.12'A 3450 3400 32.75 New York stocks (Supplied By Ricftarffson SecttriHea of Canada} Amer T and T Anaconda Beth Steel Chrysler Comsat Dupont Gen Motors" Gulf int. Harvester Kenn Copper Mcntgom Ward Sears 18 87'A x-Ron 28 Texas Gulf 29 25 Texas Co. Wix Ccrp 172.75 Woolwcrth 87Vj Westing Elec W 12Vj U.S. Steel 2775 Gen Tele Elec 2450 TORONTO AVERAGES 21 20 Inds 207.55, off 3.98 9475 M Golds 308 W, off 1.42 10 Base Met 97.38, off 42 20 15 Wst Oils 221 75, off 3.29 36 12Vj Volume IS 00 1987viNEW YORK AVERAGES 32 75 30 Inds 907.21, off 2 48 31.00 20 Rails 17668, up .11 28 15 Utll 107 42, off .35 65 Stocks 283.94, off .58 Volume CAREERS A TOP SALES POSITION IS WAITING FOR YOU NOW, THIS MINUTE, we are actively seeking skilled moti- vated persons who are' interested and ready to be part of on active well paid sales team. The opportunity to ge? itorfed h on excellent one that provides regular income plus commisiions, throughout training schedule and development period. If you feel capable of doing better and ore not satis- fied with the progress you ore now making P.O. Box 87, Uthbridga Herald with for a personal inttrvitw Grain WINNIPEG (CP) The mar- ket continued strong in steady trading at mid-session today on the Winnipeg Commodity Ex- change. Exporters were active in oil- seeds, with rapeseed advanc- ing 1% to 7% cents, while flax was 3 to 5 V2 cents higher. Rye was fully steady and as much as 3 cents higher. Barley was very active in a local trade, gaining 2 to 3 cents, and oats traded stead- ily and was fractionally higher. Monday's volume of trade was bushels of rape- seed, bushels of flax, and bushels of rye. Mid-session prices: Flax: May 3 higher 5.59B, July 5 higher 5.50, Oct. 4 high- er 5.10, Nov. 5 higher 4 99. Rapeseed Vancouver: June 4 higher 4.07 Vt, Sept. 6 V2 Grain quotes Monday (basis Livestock Calgary livestock CALGARY (CP) Receipts on the Calgary livestock mar- ket to 11 a.m. today totalled 375 head, mostly cows. Trade was active. Slaughter steers and heifers were in short supply but meet- ing a good demand at steady prices; cows were mainly low- er grades with prices steady prices; cows were mainly low- er grades with prices steady although a few good condition kinds sold at 36.50. Bulls were higher. Al, A2, steers 43 to 44, A3 4150 to 42.75. Al, A2 heifers 41 to 42, A3 39.50 to 40 75. Dl, D2 cows 33.50 to 35, D3 31.50 to 3325, D4 27 to 31.25. Good bulls 37 to 39.90. Replacement cattle were scarce with most of them Sieers in the 850 to 950 pound weight range and selling steady. Insufficient stock calves to establish a market. Good feeder steers more than 750 pounds 40 to 44.70. No gs sold to 11 am. PRIVATE LINES Of the 10.2 million telephones in Canadian 1972, 53 per cent were individual lines. China wants to resume, expand its ivorld trade By CARL MOLLINS it conflicts at points with the hold, the foreign traders boast CANTON, China (CP) The slogans in big red Chinese and English characters everywhere in the massive headquarters of the Canton trade fair some- times jar against one another in the way that an old Taoist epi- gram might confuse a plain Western mind with its paradox. These "two emblazoned above the commodity exhibits and negotiating alcoves say: "The Chinese people wish to resume and expand international trade in order to develop production and ijromote economic prosper- ity.' And then, on a floor above: "We must work hard in produc- tion in order to become self-suf- ficient in all necessities and first of all in grain and cloth.' So do the Chinese really want to trade or do they want to be completely self-reliant? Lake answers to so many other Chi- nese puzzles, the reply is both yes and no, depending on where you look and whom you talk to. Evidently it is yes for grain even at current high prices after a severe drought in the north last year. Apparently it is no for products of an expanding light industry and steel mills. ANSWERS VARY The answer is clearly yes for new airliners just ordered in the West, for fleets of Toyota taxis augmenting Shanghai-built cars in Canton, for commu- nications equipment being in- stalled north of Peking by Mon- trealers, and for oilfield and re- finery equipment ordered from Japan and expected soon to be ordered from Canadian industri- alists who have just left Canton after two weeks of tours and ne- gotiations. But whether these are in- dications of long-term trade promises or short-term meas- ures designed to give Chinese industry a temporary push re- mains unclear. By drawing on massive man- power for manual production and by borrowing and in- novating in technology, China has achieved an economic mir- acle in the last two decades. It is a modern wonder to see small tractors being built vir- tually by and on a farm com- mune near Shanghai or throngs crowding new Chinese-made pop-vending on May Peking's mam shopping street. GROWTH NOT ALL But there are those inside and outside China who say the coun- try needs imported technology if it is to push through to the next stage of development in fields such as energy and trans- port and the mechanization of agriculture. This is a Western way of thinking, however, and Chinese view that growth for growth's sake is meaningless except as social for example, it should cause unemployment. And there are puzzles within puzles for foreign dealers wait- ing or dealing or turned away empty in the humid heat of Canton, the old port city 90 miles up the Pearl River from Hong Kong. Things are tougher this year at the twice-annual trading jamboree for foreign importers dominated by Japanese and overseas Chinese. Prices for Chinese goods have been raised sharply. "They're behaving like capi- complained one dis- gruntled Canadian. Speculation on the reasons range from arguments that the Chinese want to slow down trade to a belief that they are reacting to demand pressures, monetary instability and in- flation in the West or a desire to garner more foreign cur- rency from exports to finance increasing imports. PAY WITH CASH China, stressing self-suffi- ciency, has always operated on a pay-as-you-go approach to trade, offering cash and seeking only short-term credit for pur- chases abroad. Some experts think Chinese traders will be forced to seek longer-term credit for costly imports of in- dustrial plants and technology. But others argue that if earn- ings from exports threaten to fall short of costs for imports the country will simply post- pone foreign purchases. Canadians are particularly puzzled. Midway through the month-long spring fair ending May 15, only about 40 Cana- dians had attended the in- vitation-only event and the total is not expected to exceed 75 by the dose. In the three previous fairs, more than 100 Canadians were invited among more than from 100 countries. Some say Canadians in the past have been too cautious even for the patient Chinese in closing deals. Meanwhile at the Tung Fang and speculate over long tropical lunches, waving knives and forks and chopsticks. Accompanying wives and women friends tend to concen- trate on silks and lacquerware in the friendship stores for for- eigners, tops and trousers and cube-heeled shoes drawing amazed gazes from fresh-faced Chinese girls in long pigtails, baggy trousers and neat blouses. Tonight, the hotel is offering a choice of three movies en- titled Glass Blowers Refine Sili- cone Dust, Crops on The Sur- face of Water, or the three-hour revolutionary drama White- Haired Girl. Hog sale EDMONTON (CP) age prices to 11 a.m. Aver- today provided by the AUxrta Hog Producers marketing Board. Edmonton: 42.80, average Monday 43.14. Calgary No sales, average Monday 43.02. Lethbridge: No sales, aver- age Monday 43.21. Fort Macleod- No sales, av- erage Monday 43.35. Total hogs sold to 11 a.m. 328, total sold Monday H.411, average 43.05. Sows average 3-1.10. Dodge recall D DETROIT (AP) Chrysler Corp. says it is recalling 80 Dodge vans and light trucks be- cause their tie rod assemblies may have been reversed during assembly. The tie rods, which control the wheels when the vehicle is steered, could restrict turning ability if installed incorrectly, the company reported. Chrysler said Monday the problem results from a supplier failing to identify properly a parts number. The firm said it has no record of any accidents oi- injuries due to the defect. WELDERS Required at the KAISER RESOURCES MAINTENANCE SHOP NEAR SPARWOOD, B.C. Applicants should have 3 yrs. experience in the field of equipment repair Rafet of pay: Uncertified hr. Certified hr. INTERESTED CANDIDATES PHONE 604-425-8207 Collect Flax May Jly Ocfc Nov High Low Close 553 545 506 493% 548 535 495'a 484% Rapeseed Vancouver Jun 402% 388% Sep 398 385% NOV 387% 375% Jan 585 545 508 493% 402 "2 397'3 379% Rapeseed Thunder Bay May 399% 387'A 399% Jly 393 378 393 Get 370% 362 370% Nov 368 Oats May 116% 116% 116% Jly 116 Oct 110% 110 Dec 108? i Barley May 163 Jly 163% 160 Oct 157% 156% Dec 155% J667s 163% 15C Rye May 159 Jly Oct 165% 161% Dec 163 159 162 162-ls higher 404A Nov. 5 higher 3.93, Jan. 4 higher 3.84B. Rapescsd Thunder Bay: May 3 higher 403. July 4 higher 397, Oct. 7 Mg'1 3.78, Nov, 1 3i higher 3 70 %B. Oals: May unchanged 1M6 higher 116 %A, Oct! 7s higher 111 "JbB, Dec. 1 higher Barlsy. May 2 higher 1.69 %B, Ju'y 3 higher 1 65 Oct. 2 t higher 160 %A, Dec. 3 higher 159A. Rjc: ?ray 2 7s higher 161 7-JB, July 3 highar 165B, Oct. 3 higher 1 68 VjB, Dec. I" hig'ier 1 64 %B LEONARD W. STOIL Canada Trust announces the appointment of Mr. Leon- ard W. Sfoll as Assistant Gen- eral Manager Prairie Re- gion, with headquarters in Calgary. Until recently, Mr. Stoll was Manager, Regina Branch. He succeeds Mr. Derek J. Warren who has been posted to a special as- signment in London, England, commencing June 30th. DON'S BUILDING SUPPLI 3325 1st Avenue South Adjacent to Canadian Propane on Coafdale Highway Phone 328-3535 For FREE City Delivery! Open Mon. thru Fri. 8 a.m. to p.m.; Sat. 8 a.m. to 12 Noon OLYMPIC STAIN 7.99 t.69 quart 2 PLASTER BOARD 4'x8'xl4" INSULATION R-7xI5" Rolls 6 .19 FIBREGLASS PANELS 99 Per roll POLYTHENE 2 mil x STANLEY HAND TOOLS 20% OFF 4 .99 Per roll (White they last) PLYWOOD Rough !.69 Per sheet 5 FORMICA COUNTER TOPPING 4'x8'-Nine Colors ,95 PRICES IN EFFECT UNTIl SAT., MAY 19th. "Where Savings and Satisfaction Go Hand In Hand" DON'S BUILDING SUPPLIES 3325 1st Avenue South Adjacent to Canadian Propane on Coaldale Highway ;