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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 15, 1974, Lethbridge, Alberta Miy 1174-THE LETHMIDQE HERALD The Herald Business Stocks Miscellaneous Montreal by WESTERN 3 80 AND 5 75 Alton Foods 3 35 Albany Mm 1 01 Alta East A Pfd 50 00 Yukon 7 50 STOCKS Ashland Gas A 1200 BP Gas Pfd 55 00 Brenda Nat Gas 18 Cda Metro 5 50 Cdn Export Nat Gas 9 12VS Cdn C Gas 10 75 Cdn Ind C Gas B Pfd 20 50 Cdn Long Gas Tr 9 Cdn Pipe 30 00 Chiettan Pipe A Pfd 55 62 V4 Dome B Pfd 31 00 Cda Pipe War 3 65 Ft Trans 20 25 Giant Trans War 2 55 Gibraltar Grt 43 Grt Cdn Oils 09 Lochiel Continental 02 Lytton Warner 31 Noble North Cdn Numac Explorations 29 PanCdn Norsemmes 1 32 Pan 2 75 60 Varden 27 Place Res 11 8 20 Ranger Mines 2 15 Scurry mer 05 Standard 1 85 Total Copper 7 00 Ulster United Brewing 3 00 West Industries 11 West 1 75 Petroleum 34 Acres Pete 15 Explorations 85 BC Sugar C Intl Res 65 Block FUNDS Can Pac A Cdn Compound 564 613 Carlmg A Cdn Dividend 5 92 6 44 Carlmg B Cdn Ventures 3 09 3 36 Commerce Growth Fund 4 37 4 80 Crest G F Special 2 21 Crowsnest Invest Fund 4 45 4 88 Falcon Mutual 4 69 515 F M Comnwl'h 5 51 Leverage 3 00 Home Oil Int I Vent 2 90 Home Oil Investors 559 614 Hudson Invest Stock Fund 4 26 4 68 Hud Bay Fund US 1002 1098 Hugh Russell C Pacific 6 27 6 89 Husky In Shares 2 79 3 07 Husky Oil B Equity 619 680 Oil D Growth Fund 1084 11 85 husky Oil E Mutual 5 18 567 Inter Pipe Accum 555 610 Inter S Growth Fund 286 3 14 Kaiser Resources 414 455 Kaiser Res W Cdn 4 99 5 48 Loblaw 2 40 C W Growth 4 26 4 68 Growth 5 62 6 14 Pacific Mutual 6 77 7 40 Pac West 6 05 6 30 Pe-Ben Growth 744 816 Ramer Accum 4 06 4 46 Royal Savings 737 811 5 39 5 91 Toronto industrials by Richardson Securities Forest Advocate Sugar A Valley Ind Ind O Keefe Cellulose Can NW Power Canada Credit Cass 87 Gas Central Ind Marconi Vickers Cons Coin Bathurst Dickenson Gas Demson Seagrams Bridge Dome Discovery Textile East Stores East Pete Mobile First Cdn Oil Giant Y Motors Lakes Papei Oil Hudson Bay Hydra Sid Iron Walker Erie Johet Oil Kerr 87 Key Nickel Pipe Lake Grp A Langis Intl Madsen R Accept Malartic G Martin Douglas A A Intern Nu West Ferg New Bloed New Corp A B Pine Cent Placer Corp Pax Co Quebec CDA Rio Roman Sear Sherntt Can Steep A Tek Corp Grp A Mtn Pipe United Can Pipe Western Carbide WH Copper Gas Wright Oil Siscoe Mtg Yellowkmfe A Cdn Seea Elec Algoma Atco Imperial Agra Bell 87 Scotia Brascan BC Dom 1225 17 12V2 1900 12 9 12V4 270 5 50 230 925 1850 310 1675 1550 1412V4 2625 2450 1500 38 .3950 25 1025 14 2650 2925 425 750 4425 2375 2525 1600 525 4550 21 27 2700 2775 15 700 1325 290 490 62V4 350 6 12V4 1225 1650 27 4875 21 12V2 1925 675 1075 11 1350 5 1225 725 1087V2 2850 3700 925 3000 1825 850 7 625 2050 20 2150 335 300 2475 1700 32 3600 New York by Richardson Securities of Amr T 4 T 47 00 Woolworth 16 Anaconda Westmghouse Elec Beth Steel 33 U S Steel 46 25 Chrysler Gen Tel Elec 2275 Ccmssat 35 TORONTO AVERAGES Dupont 17650 20 Industrials 18913 down 231 General Motors 46 50 20 Golds 457 80 down 9 17 Gull 20 10 Base Metals 85 21 down 1 47 Int Harvester 26 00 15 Western Ol's 184 85 down 9 77 Kenn Copper 35 00 Volume 1 290 000 Montgomery Ward 25 25 NEW YORK AVERAGES Sears 83 00 20 Industrials 843 08 down 4 77 Exxon 7600 20 Rails 168 95 down 61 Texas Gull 24 15 Utilities 74 61 down 60 Texas Co 65 Stocks 254 12 down 1 39 Wlx Corporation 13 00 Volume 5 080 000 Toronto market prices move sharply lower Crop seeding in South good CALGARY Spring seeding is well under way in southern Alberta but rainfall in all other areas has delayed field the Alberta Wheat pool reported today In the Medicine Hat Foremost almost half of the oats and barley is seeded About a third of the rapeseed acreage and one- fifth of the rye crop are planted which averaged 65 inches throughout the province last halted any attempts to harvest last year's crops in north- northern and Peace River areas Most areas reported wet fields needing OIL EXPORT TAX AFFECTS STOCKS THE CANADIAN PRESS Canadian stock prices fell sharply for the second straight day Tuesday as a new increase in oil export taxes added to worries over rising interest rates The federal government asked oil companies to increase the export tax June 1 to 20 a barrel from The Toronto Stock Exchange western oil index dropped 7 37 to 194 a low since Nov 1971. The Toronto industrial widely-based indicator of market remained at a low since down 1 45 to 191 44 The index recorded a drop of more than three points Monday amid concern over rising interest rates All sectors of the Montreal market declined in light trad- ing Dollar steady LONDON Rumors that President Nixon is resigning swept European financial centres but the United States dollar held steady in foreign exchanges one or two weeks of dry weather before threshing can start Mouse mildew and deterioration are reducing prospects for a successful spring the Pool said points indicate the crop still in swaths may be a total loss Pipeline applications submitted Gold panning With gold prices climb- panning is becoming a popular pastime in northern British Colum- bia Here prospective prospectors are shown how it is done at an adult education course in Prince George Crude oil flow block criticized DETROIT Applications for a pipeline that would bring new natural gas from the Arctic to 26 United States Midwest and Northeast states were filed with the Federal Power Commission Tuesday The applications were filed by Northern Border Pipeline Co a six- company consortium that plans to stretch miles of pipe from the Montana Canada border across 10 states to Pennsylvania Crowsnest Industries profits up B C Crowsnest Industries Ltd reports net earnings of 9 million 87 a share for the year ended Dec compared with net earnings for 1972 of 1 7 million dollars or 28 a share President Bruce Pepper told the company's annual meeting that 1974 does not appear to have the earnings potential achieved last year TORONTO Energy Minister Darcy McKepugh told the Ontario legislature Tuesday that it is not m the best interest of Confederation for Alberta to block the flow of crude oil to Petrosar Ltd in Ont James Bullbrook broached the topic and got agreement from the energy minister that one provincial government should not impose restrictions on the use of its raw materials by another province Alberta has told Petrosar that the province is against the extraction of raw materials in Alberta to allow another province to gain industrial benefits Petrosar a joint venture by Polysar Ltd Du Pont of Canada Koch Canada Fuels Ltd and Union Carbide Ltd will need about barrels of crude each day Mr McKeough also said Ottawa has an obligation to guarantee Ontario's interests No bids Wyo The United States government's oil shale leasing program received a setback Tuesday No bids were offered on a tract in southwest Wyoming that contains an estimated 168 million barrels of recov- erable oil An interior department offi- cial said the leasing program will proceed on with another bid-opening scheduled next month for a similar-sized tract in the same area Details on petrochemical industry proposals awaited EDMONTON Premier Peter Lougheed promised the legislature Tuesday he would make a major statement in a few days on Alberta's approach toward development of the petrochemical industry in the province and throughout Canada Don federal and intergovernmental affairs later said the statement was necessary because of the of speculation and surrounding petrochemical policies Three major petrochemical proposals all proposing to use Alberta oil or natural gas as feedstock have been unveiled amid the question of whether the market is large enough to accommodate all of them The province has never issued a clear-cut statement on petrochemical but the industrial strategy referred to by top cabinet ministers indicates the province's thinking Alberta's industrial strategy calls for development of industries in the province that will upgrade Alberta natural resources and create jobs The proposed Petrosar petrochemical plant at runs headlong into this approach Ontario politicians have already said that Premier Lougheed's earning to the company that Alberta cannot assure a supply of oil needed as feedstock could develop into an issue m the July federal election A second developed by Dow Chemical and Dome would involve a plant at Fort just north of Edmonton The national Energy Board already has approved that project and the federal government is expected to make a decision this week The premier made a point of drawing the third petrochemical proposal to the attention of the legislature Tuesday Alberta Gas Trunk Line Co. Ltd earlier in the day said together with a consortium involving Canadian Industries Ltd is ready to proceed on a major ethylene plant in Alberta Mr Lougheed called the announcement Petrochemicals are the major products used in the manufacturing of plastics TORONTO Prices on the Toronto stock market today were sharply lower in light midmorning trading The industrial widely-based indicator of market fell 91 to golds 829 to base metals 69 to 8599 and Western oils 6 16 to 188 46 Volume by 11 am was shares compared with shares at the same time Tuesday. Declines outnumbered ad- vances 64 to 188 with 157 issues unchanged Bow Valley fell to Anglo-Canadian Pulp to Gulf Oil 1 to and Home Oil A 2Vz to Carnflo lost 1 to Dicken- son Vz to and United Siscoe VB to Ranger was down to Pan Ocean Vs to and Republic five cents to 60 cents Royal Bank rose to Bank of Nova Scotia to Demson VB to and United Canso Vz to VANCOUVER Prices were down in light trading on the Vancouver Stock Exchange Tueidav Total volume at the close was 1380 J61 shares In the industrials Canterra was up 02 at 57 on 11000 shares Kaiser Warrants were unchanged at SI 68 on 8 900 shares Newmark was down 03 at 17 on 4 800 shares and Captain International was unchanged at 40 on 4 700 shares Grouse Mountain was unchanged at 10 and EDP Industries was unchanged at 15 In the mines Henrietta was up 03 'z at 28'z on 102 500 shares Northair was down 21 at 30 on 39 300 shares Silver Standard was down 21 at 08 or 36 900 shares and Arcadia was down 05 al 51 on 33 500 shares Geo-Dyne was down 01'2 al 19 and Carohn was up 10 at 52 10 In the oils August Petroleum was down 02 al 34 on 8 525 shares Seneca Developments was down 01 at on 8 100 shares Rose Pass was unchanged at 33 on 8 000 shares and Concept was up 10 at 10 on 7 300 shares Williams Creek was down 02 al 10 and Cop Ex was down 03 at 35 Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted vDalex Co Ltd pfd June 29 record June 14 Inter City Gas Ltd 10 cents semi annually an increase of 4 cents June 14 record June 3 7V2-per cenUndprd series B 75 cents semi annually Mav 31 record May 21 International Paper Co 37'z cents U S funds 00 pfd both payable June 15 record May 24 Loblaws Lid second pfd 50 June 3 record May 15 Not June 30 as reported by the Toronto Stock Exchange Mav 8 Melton Real Estate Ltd 14 cents semi-annually an increase of 7 cents June 30 rerord June 15 14 cents semi annually Sept 30 record Sept 15 Na-Churs International Ltd 5 cents semi annually June 15 record May 31 Quaker Oats pfd 75 cents July 20 record June 30 Sherntt Gordon Mines Ltd 20 cents an increase of 5 cenls June 17 record May 31 Western Mines Ltd 20 cents semi- annuallv an increase of 5 cents June 17 record Mav 31 Currencies MONTREAL Wednesday s foreign exchange selling rates supplied by the Banx of Montreal Denmark kroner 1730 France franc 2060 Germanj mark 4090 Italv lira 001590 Japan yen 003540 Mexico peso Spam peseta 0174 Switzerland franc 3485 United 9650 United Kingdom pound 2 370 USSR ruble 1 2781 Quotations in Canadian funds Hog prices EDMONTON Average prices to 11 a m Wednesday provided by the Alberta Hog Producers Marketing Board Tuesday average in brackets Edmonton Calgarv Nill Red Deer 36 00 Grande Prairie Nil Llovdmmster Fail-view Nil Lethbndge Nil Fort Macleod Nil Total hogs sold to 11 a m 719 total Tuesday 10 505 average 35 78 Sows average 2075 Metals CONDON Closing metals bid ask in pounds sterling a metric ton silver in pence a troy ounce 1 195-1 196 futures Missing 3 880 futures 3 905 3910 280-281 futures 286 287 745 750 futures 711 713 Silver-spot 235-236 5 3 months 244 2445 Dollar MONTREAL U S dollar in terms of Canadian funds at noon today was down 1 25 at 11 50 Pound sterling was up 29 100 at 32 37 100 In New York the Canadian dollar was up I 25 at 03 93 100 Pound sterling was up 4-5 at Qoldfutum WINNIPEG Gold futures U S funds Winnipeg Commodity Exchange close Tuesday Ilv 74 168 OOB Oci 74 173 5013 Jan 71 178 50A Apr 75-184 00 Jly 75 IB9 40A Mond.iv s volume 101 MONTREAL sectors moved lower in light trading on the Montreal Stock Tuesday The industrial index fell 3-54 lo 20092 the composite 258 to 19206 papers 45 to 12J 24 utilities 45 to 130 69 and banks 15 lo 247 89 Dome Petroleum fell 3-4 to Anglo-Canadian Pulp and Paper J2 to 3-4 Canadian Pacific Investments 5-8 to J14 3 8 and AquiUme 1 2 to J24 while Union Carbide rose 1 8 lo f 18 1-4 Among speculative issues Silver Stack Mines fell seven cents to 65 cenls on a volume of 50 700 shaies traded NEW YORK Prices slipped gradually lowei in another slow and uneventful session m the stock market today Thell Mam Dow Jones average of JO industrials was down 1 88 at 845 98 and declines outpaced advances by dbout five to three on uie New York Stock Exchange Virginia Electric Power was the NYSE volume leader down Pullman rose to CNA Financial 'i to Among Canadian issues Dome Mines fell one and one-quarter dollars to Canadian Pacific 'j to Ferguson lo JI7Lj Alcan unchanged Inco al and Mclntvre at V42'i Winnipeg grain WINNIPEG Activity continued light and prices low at mid session todav on the Winnipeg Commodity Exchange Flax eased much as 28 cents a bushel while rapeseed and rye both were within a few cents of Tuesday s close s volume of trade was J59 000 bushels of flax 1 511 000 of rapeseed and 801 000 of rve Earnings By THE CANADIAN PRESS Banister Continental year ended March 31 1974 71 rents a share 1973 679 000 91 British Columbia Forest Products Ltd three months ended March 31 1974 75 cents a share 1973 897 000 M cents Canada Steamship Lines Ltd three months ended March 31 1974 S5 597 000 1973 S3 139 000 Farmers and Merchants Trust Co Ltd three months ended March 31 1974 S274 330 21 cents a share 1973 020 12 cents Hunter Douglas Canada Ltd year ended Dec 31 1973 432 907 1972 520 Kenting Ltd three months ended March 31 1974 S365 000 45 cents a share 1973 000 46 cents Lacroix Inc three months ended March 31 1974 000 21 cents a share 1973 000 13 cents New Brunswick Telephone Co Ltd three months ended March 31 1974 S2 OOa 000 cents a share 197J 000 J8 cents Northwest Sports Enterprise I td nine months ended March 31 1974 400 IK cents a share 1973 bOO bU cents Numac Oil and Gas Ltd three months ended March 31 1974 282 15 2 cents a share 1973 436 14 9 cents Quebecor Inc six months ended March 31 1974 571 972 71 5 cents a share 1971 175 081 54 8 cents Revenue Properties Co Ltd three months ended March 31 1974 349 2 3 cents d share 1973 040 1 6 cents L E Shaw three months ended March 31 1974 loss 1973 SiKerwood Industries Ltd 12 weeks ended March 24 '974 975 18 9 cents a share 197J 299 20 9 cents Steetlev Industries Ltd three months ended March 31 1974 000 50 cents a share 1973 S200 000 2' cents Trust General du Canada three months ended Match 31 1974 000 46 cents a share 1973 49 cents Unican Security Systems Ltd nine months ended March 31 1974 32 cents a share 1973 27 cents Van Der Houl Associates three months ended March 31 1974 350 II 8 cents a share 1973 076 29 7 cents Peel Elder Ltd three months ended March 31 1974 000 '8 rents a share 1973 000 10 cents Q Broadcasting six months ended Fcb 28 1974 000 23 2 cents a share 1973 000 16 9 cents Quaker Oats Co nine months ended March 31 1974 427 000 U S funds 41 a share 1973 000 66 Thomson Newspapers Ltd three months ended March 31 1974 104 cents a share 1973 91 cents Total Petroleum Lid three months ended March 31 1974 458 000 27 cents a share 1973 S676 000 7 cents Traders Group Ltd three months ended March 31 1974 504 000 30 cents a share 1973 52 cents Union Oil Co of Canada Ltd three months ended March 31 1974 S2 966 000 21 cents a share 1973 360 000 16 cents Beef futures WINNIPEG Live beef futures close Tuesday 48 10 Ilv 50 SON Sep 50 25B 49 Monday s volume Eight contracts Mid session prices Flax Mav 28 lower 9 61A 23 lower 9 60A Ocl 7 lower 9 30A Nov 16 lower 8 97A Dec 16 lower 8 27A Rapeseed Vancouver June lower 7 21'4 Sept 2' i lower 6 86JjA Nov J'z lower 6 35A Jan unchanged 620A Rapeseed Thunder Bav Mav 1 higher 7 47B Julv unchanged 6 68 A Ocl unchanged 633A Nov unchanged 633A Mav higher 253A Julj l'j lower250A Ocl 'zlower248A Dec Pi lower 247'M Gram quotes luesday basis Lakehead High Low Close Flax Mav 989 JK 1001 983 983 Oct 964'2 937 937 Nov 937'2 913 913 Dec 8b6'z 843 843 Rapeseed Vancouver Jun 742 724 Sep 709'2 689 689 Nov 667 636'3 638'a Jan 640 611 620 Rapeseed Thunder Bay Mav 747 740 746 Jlv 688 btiS 668 Oct 663 633 63d Nov 633 Rye Mav 260'z 252'i 252'4 Jlv 259 251 251'4 Ocl 248 248'2 Dec 242 Chicago markets CHICAGO futures generallv trended lower on major exchanges Tuesday Silver futures however were an exception lor a time earlv in the New and Chicago sessions Buying on the opening largely on an accumulations of purchase orders Irom Ihe previous limit up sessions sent prices again lo limils higher Prolil tdking then set in and prices eased a little but some stop loss selling appeared and the full move downward gol under vvav Wool coffee and cocoa futures were mixed while copper and world sugar futures drilled lower HCJVV selling in the last hour reversed a trend ingramlulureson Ihe Board of Trade and wheal corn oats and sov beans closed mostly lower Sovbean meal was lillle changed while sov oil also was lov.er On Hie Chicago Mercanlile 1 xdiangc live cattle lulures closed on j mixed tone bul live hogs losl as much as iO per hundredweight and pork bellies lell Ihe limit of 150 poinls Shell eggs were donn 60 to 140 points At Ihe close soybeans were 10 lo 12' i cenls a bushel lower Mav 5 40' i C hicago wheal was unchanged to 5 lower Mav 3 47 Gulf hard red wheat nol traded corn 3' i lower lo higher 266'. and oals l'i lower to 5 higher Mav I 41 Gram quoies Tuesday Wheat Mav 3 47 Jul 3 57 Sep 3 58 Dec 67 Mar 3 75 Corn Mav Jul 264 Sep 251'. Dec Mar 242 4 Oals Mav 141 Jul 129'.. Sep 1 29'i Dec I 34'. Mar 1 35 Livestock Calgary CALGARY Receipts to 11 a m Wednesday from the Calgan Public slockvards totalled aboul 1 050 head slaughler heifers Trade was active Sljughler steers sold actively at lullv steadv prices Heifers sold strong ttilh sales to 48 30 The beef premium was included in sleer and heifer prices 411 grades of cows sold lower Bulls sold sleadv Sleen U and 2 495060 Al 47-49- Heilers AI and 2 46-47 A3 45-46 Cows Dl and 2 32 34 D3 28 32 D4 23 27 Good bulls i4 Replacement cattle traded actively sleadv prices Good feeder steers more than 750 pounds 45-47 90 Good heifers over 551 pounds 3842 Good slock heifer calves 38-43 There were no hogs sold to II a m MOT or 2 year GUARANTEED SAVINGS CERTIFICATES InttrMt payable semi-annually or compounded to maturity. Merrber Canada Deposit Insurance Corporation Depositors can purchase Olympic coins MERCHANTS TRUST 309 7th StrMt 328-5548 ;