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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 17, 1973, Lethbridge, Alberta ___ ThuiUlay, May 17, 1973 THi UTHUIDCE HttALO 2V TSE prices lower in light trading TORONTO (CP) Prices on the Toronto stock market were moderately lower in light mid- morning trading today. The industrial index, consid- ered the major indicator of market trend, fell .46 to 208.40, golds 7.48 to 291.45 and western oils .09 to 223.25. Base metals, however, rose .05 to 97.47. Bank, construction and mate- rial, oil refining and steel issues were among sectors of the mar- ket recording losses while food processing, merchandising, real estate and miscellaneous issues were higher. Declines outnumbered ad- vances, 145 to 100, while 165 is- sues were unchanged. Chrysler fell to Crush to Domtar to Inco to and OSF Industries to Canadian Tire A rose Tg to Life Investors to Reader's Disgest to Canada Permanent Mortgage to and BP Canada V4 to Falconbridge Copper was up to United Siscoe 25 cents to and Bankeno 15 cents to Northgate slipped 20 cents to and East Ma- lartic 15 cents to Canada Northwest dropped 15 cents to and Asamera 15 cents to Houston ad- vanced 15 cents to composite .86 to 214.92, industri als .84 to 226.45, utilities .68 to 151.56 and papers .41 to 110.15. On the Montreal Stock Ex change, Ronalds-Federated was down 1% to Grafton 1 to Trizec 1 to and Gays ler to On the Canadian Stock Ex change, Reprox was up 50 to on shares. MONTREAL (CP) -All sec- tors were down in light trading on the Montreal stock market today. Banks fell 1.27 to 253.56, the Deficit payments increase OTTAWA (CP) The bal- ance of payments deficit soared to million in the first quar- ter of the year as increased de- mand pushed imports up 10 per c e n the sluggish growth in exports, Statistics Canada reports. The seasonally adjusted defi- cit for the first three months- based on both merchandise trade and invisibles such as in- terest and dividend payments- was high ab9ve the deficit posted' in the last quarter of 1972. But it was still below the million deficit of the first quar- ter last year. The statistics bureau said the big change was the slower growth in exports. Sales to the United States and Japan in- creased, but exports to the en- larged t European Economic Community declined. The merchandise trade sur- plus stood at million, down from million in the last quarter of 1972. Export increases were paced by automotive products, news- print and crude petroleum. De- creases were recorded in wheat, lumber and farm ma- chinery. Imports increased from all major trading areas, and in- cluded machinery, automotive parts, office machines, commu- nication equipment and non-fer- rous alloys. NEW YORK (AP) The stock market' drifted lower in slow trading today as investor sharply watched the opening o the Senate Watergate hearings. The noon Dow Jones averag of 30 industrials was down 3.4i at 913.68. Declining issues on the Nev York Stock Exchange led ad vancing issues 701 to 431. "Tb start of the Senate hearings o; Watergate has made people said one analyst. Among Canadian issues, Al can was off to Dom Mines to and Walke Gooderham Vi to Inco ros to Grain prices Winnipeg grain WINNIPEG (CP) Oilseed trices continued to decline sharply, with all prices down ;he 10 cent limit at mid-ses- sion today on the Winnipeg Commodity Exchange. Oats and barley declined close to two cents in most months while rye was down about three cents. Wednesday's volume of trade was bushels of rape- seed, bushels of flax and bushels of rye. Flax: May 10 lower July 10 lower 5.16A; Oct. 10 lower 4.79A; Nov. 10 lower Rapeseed1 Vancouver: June 10 lower Sep. 10 lower Nov. 10 lower Jan. 10 lower Rapeseed Thunder Bay: May 10 lower July 10 lower 3.63A; Oct. 10 lower 3.44A; Nov. 10 lower Oats: May 1% lower July 1% lower 1.14A; Oct. IVt lower 1.09A; Dec. 1% lower Barley: May l% lower July 1 lower Oct. 17s lower Dec. 2Vs lower 1.5274B. Rye: May 3V4 lower July 2% lower 1.54B; Oct. 2% lower Dec. 2% lower Grain quotes Wednesday (ba- sis Low CSE shares trade value shows drop CALGARY (CP) Tradin; on the Calgary Stock Exchang dwindled to shares va ued at last month com- pared with share worth for April, 1972. In the first four months this year, shares worth million traded compared with 5.5 million shares valued at million for the corresponding period of 1972. In April, industrial trading was ppaciioally iron-existent with only shares traded compared with shares a year earlier. Value dropped to from Industrial traded shares worth in the first four months, down from shares worth In April, oil shares worth were traded com- pared with shares val- ues at a year earlier. Oil trading to the end of April totalled shares worth million compared with shares worth mil- lion. Mines volume was down slightly in the first four months of the year to com- pared with while dol- lar volume was off about 40 per cent, compared with Livestock Calgary livestock CALGARY (CP) Receipts on the Calgary Livestock mar- ket to 11 a.m. today totalled 700 head, mostly slaughter steers and cows. Trade was active. Slaughter steers were steady with dairy types 39 to 42.90: heifers were fully steady to 25 cents higher; cows were most- ly lower grades with prices un- evenly steady and thin shelly kinds 25 lower, subject to con- dition; bulls were steady. Al, A2 steers 44 to 44.90, A3 42.50 to 44. A2 heifers 42 to 43, A3 40.50 to 41.75. Dl, D2 cows 33.50 to 34.60, D3 31.50 to 33.25, D4 27 to 31.25. Good bulls 37 to 40. Replacement cattle were mostly steers 800 to pounds and heifers from 650 to 725 pounds. Prices were steady. Insufficient stock calves were offered to estab- lish a market. Good feeder steers more than 750 pounds 40 to 45, good feed- er heifers more than 650 pounds 38 to 43.50. Hogs base price 43.50. The Calgary market will be closed to trading Monday, Vic- toria Day, but the usual facil- ities for handling livestock will be available. B.C. proposal for oil route still awaited OTTAWA (CP) Ono week ago the federal government still was awaiting study papers be- hind a British Columbia pro- posal for an ove'rland Alaska oil route through the Yukon and B.C., says Prime Minister Trudeau. B.C. Premi Dave Barrett made the proposal several months ago suggesting a rail- pipeline route instead of the controversial tanker route. The situation may have changed, Mr. Trudeau told the Commons, but despite repeated requests, the B.C. study papers had not been sent to Ottawa as of a week ago. He told John Fraser Vancouver-South) the federal government doesn't favor tank- ers using narrow tween the United routes States bc- and Canada. A proposed Mackenzie Valley pipeline is a project, "we are prepared to consider." Beef futures WINNIPEG (CP) Live beef futures close Wednesday. May 43.90N; Jly 43.20N; Sep 41.80; Nov 41.15N. Tuesday's volume: 20 con- tracts. Closfe 542% 526 489 475% 542% 526 489 475% High Flax May 548 Jly 531 Oct 495 Nov 484% Rapeseed Vancouver Jun 384 382% 382% Sep 382 377% 377% Nov 374 367% 367% Jan 366 3597s Rapeseed Thunder Bay 381% 375% 359 Gold futures WINNIPEG (CP) Gold fu- tures, U.S. funds, Winnipeg Commodity Exchange close Wednesday. Jly Oct Jan Apr Jly 74 113.73. Tuesday's volume: No con- tracts. May Jly Oct Nov Oats May 116% Jly 116% Oct 111% Dec Barley May 169% Jiy Oct Dec Rye May Jly Oct Dec 380% 373 354 166% 159 157% 154% 161% 165 164 1157s 110V4 169Vs 164V4 157 155 152% 156% 160 158% 380% 373 354 351% 116% 1157s 110Y4 109% 1647s 157 155 154 156% 160% 158% Hog sale EDMONTON (CP) age prices to 11 a.m. provided by the Aver- today Alberta Hog Producers Marketing Board: Edmonton: 44.30, average Wednesday 43.23. Red Deer: 43.35, average Wednesday 43.63. Calgary: 43.50, average Wednesday 43.46. Lethbridge: No sales, aver- age Wednesday 43.43. Fort Macleod: No sales, av- erage Wednesday 43.05. Total hogs sold to 11 a.m. total sold Wednesday average 43.32. Sows av- erage 33.65. Dollar value MONTREAL (CP) U.S dollar in terms of Canadian funds at noon today was up 1-50 at 2-25. Pound sterling up 1 1-10 at In New York, the Canadian dollar was dov.n 1-50 at ?3.n 25. Pound sterling up 1 1-20 at 4-5. Miscellaneous quotations Vancouver, Calgary, Montreal (Supplied by Doherty, McCaaig Limited) LAST BID OR SALE a.m. Quotes) WESTERN OILS AND MINES Albany Oils Alta East Gas Almlnex Asamera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Granisie Gt Plains Gt Cdn Oil S Lochiel Lytton Min Noble Mines North Cdn Oils Numac Pancdn Pete Pan Ocean Petrol Pinnacle Place Gas Ponder Ranger Scurry Rain Seifcens .Spooner Total Pete Ulster West Pete W. Decalta MISCELLANEOUS INDUSTRIES Acres Ltd Aguitaine BC Sugar Pfd Block Bros Cdn B.-ev; A Cdn Brew B Cdn Pacific Inv Crestbrook Ind Crowsnest Ind Ouotts) Cygnus A Cygnus B Falct 16.50 39.00 36.00 20.00 43.75 54.25 41.50 21.00 1.M Falcon Copper 7.75 F and M Trust 6.X Genstar 8.65 Home A 11.3714 Home B 15.00 Hud Bay Co 5.35 Hud Bay Oil 4.15 Hud Bay A Pfd 3.30 Hugh Russell 6.90 Husky Oil 7.62'A Husky B Pfd .19 Husky D War Husky E War Hys of Canada Inter Prov Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete P W Air Pe-Ben Oilfield Rainier Inc Royal Trust St. Maurice Cap Sand well _____ Teledyne 14.12'A West Cdn Seed 13.00 Westfield Min 1.20 Westfield War 23 Weston A Pfd .52 White Yukon 40 PIPE LINE STOCKS 28.50 Alta Gas A 14.00 Alta Gas Pfd 70.00 11.00 Alta Nat Gas .45 Inland Nat Gas 6.75 N and C Gas 1.10 N and C B Pfd 6.62'A Pacific Trans 5.10 Gaz Metro 7.75 '.79 .Wt 1.75 .45 .31 .19 8.25 .13 .16 .72 47.00 4.00 9.65 33.75 8.50 .32 2.83 9.00 29.00 8.60 2.25 1.48 1.20 7.10 14.25 Tr Cda A Pfd 15.00 Tr Cda B Pfd Tr Cda War 15.00 WC Trans 2.80 WC Trans War CALGARr 33.00 Acroll Barons Oil 8.50 North Continental 27.00 West Warner Ouotij) 7.75 VANCOUVER 7.75 MINES Afton 6.00 Atlas Explor Bath Croyden Dankoe Davenport Dolly Varden Equitorial Res Lornex Primer 42.6214 Pyramid 6.85 Silver Standard 8.20 Valley Copper 5.00 INDUSTRIALS 9.55 Col Brew 2.90 13.25 Key Indust .28 3.10 'Wardalr 2.45 31.50 OILS 11.75 Prp Explor 1.06 30.1214 Plains Pete .22 10.75 Ponderay Explor 1.01 6.50 Stampede Intl Res .71 5.1214 MUTUAL FUNDS 24.75 All Cdn Com 7.17 7.81 1.05 All Cdn Dlvld 7.74 8.45 3.35 All Cdn Vent 3.64 3.98 4.20 Amr Gr F 5.39 5.92 Special 2.65 1.06 Cdn Invest F 5.01 5.49 .08 Col Mutual 5.46 5.99 62.50 Cmnw Inter 15.1616.66 14.6214 Cmnw Lev 3.90 4.29 Cmnw Vent 7.65 8.41 Corp Invst 6.08 6.6; Corp In St F 4.97 Dreyfus F U.S. 11.21 12.28 Great Pacific 4.60 5.02 Gr In Shares 3.69 4.06 Gr Equity 7.86 8.63 Invest Gr F 12.0613.19 Invest Mutual 5.72 6.25 Mutual Ac Mutual Gr F Nat Res N W Gr N W Gr Principal Gr 3.40 Royfund Temp Gr .45 United Ac .03 Universal Sav Univest .31 Vanguard 19.50 10.50 10.25 22.75 12.25 4.60 65.00 36.75 68.25 41.75 7.50 5.92 6.5 3.47 7.56 8.2 5.41 5.95 4.99 5.4 422 4.64 6.47 6.7. 9.60 10.4? 5.05 5.55 7.55 8.4' 5.79 6.37 6.32 6.93 Toronto mines., industrials (Supplied By Securities of Canada) LAST BID OB SALE a.m. Quotes) MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Brunswick Can. N.W. Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rsmbler Coin Lake Cochenour Craigmont Dickenson Denison Mines Deer Horn D'EIdona Dome Mines Donalda Discovery Mines East Malartlc East Sullivan Falconbridge Frobex First Maritime Giant Y.K. Bovis Granduc Hudson Bay M-S 21.00 .23 .14 1.00 1.25 2.15 .41 14.25 4.10 6.00 1.70 10.00 1.10 V43 6.50 3.65 .21 1.28 6.35 4.00 31.00 MM Abltibi 93.00 Alcan .37 1.34 3.35 2.55 70.75 .22 .38 8.15 2.30 3.25 r.m, Osisko Pine Point Placer Dev. P.C. Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep Rock Tek Corp. Texmont Upper Canada Western Mines Wright Hargreaves 1.30 Willroy 1-08 Windfall Yellowknife Bear Zenmac INDUSTRIALS a.m. Grt Cdn Oil Gen Motors Grt Lakes Pp 2.95 Gulf Oil Cda .1014 Greyhound 1.30 Hawkr Sid Hur Erie Hiram Walker Imp Oil Imasca Int Nickel Int Pipe Inv Grp A Int Util Ind Accept Kaps Laurentide Kelly Doug A 3.60 Loeb .07 Loblaw A .30 24.75 6.95 15.00 1.50 3.50 .26 2.95 2.95 Hydra Ex. iron Bay Iso JoIIet Quetfec Kerr Addison Key Anacon Labrador Lake Shore Langis silver Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Meta Midrlm Intern Mogul Nu West Homes New Athona New Calumet W. Horse Copper Noranda Northgate Norlex Algoma Steel Atco Ind Atlantic Sugar Agra Ind Bell Tel Brazil Trac B.C. Tel Burns B.C. Forest B.C. Sugar Bow Val Ind .29 CAE Ind 3.75 Cdn Brew 2.18 Cehmcell .24 Col Cell 11.75 Calgary Power .24 coron Credit 43.25 c.W.N. Gas Pfd 3.70 Cdn Ind Cdn Marconi 1.02 Cdn Vickers 1.12 Chrysler .40 c.P.R. 55 00 Cominco .12 Cons Bath .14 Dist Seagrams 12.50 Dom Bridge 9.50 Domtar .20 Dom Textile .28 Dom Stores 2.90 Dome Pete 49.50 Dofasco 5.50 Cable .35 Glendals Met stores 10.25 Massey Ferg 27.87'A McMillan Bloe 16.62V2 Moore Corp Moisons A 7.00 Moisons B 10.25 Nachurs 43.00 North Cent 19.87'A Power Corp 54.25 Price Co. 16.50 Rothmans 16.50 St. Law Crop 19.50 Shell CDA Simpson's Simp Sears 4.75 Steel of Selkirk A Texaco 4.25 2.75 26.25 1.70 10.75 16.00 395 12.50 Traders Grp A Trans Mtn Pp Trans Cda Pp Union Gas Union Oil United Siscoe 28.37'A Versatile Mfg 17.25 Westeel 28.00 Union Carb 18.50 Weston's B 38.62'A Woodward's A 35.00 West Cdn Seed 17.75 Zenith Elec BANKS 14.00 Cdn Imp 33.75 Montreal 26.75 Nova Scotia 14.50 Royal Tor-Dom Querns) 8.80 69.25 21.00 33.25 19.00 4.20 29.00 51.50 39.00 29.00 28.25 24.62'A 24.00 12.25 6.75 4.85 6.00 20.25 1800 28.25 49.50 24.75 10.00 14.25 13.00 19.25 17.00 12.62V2 57.50 16.75 24.25 36.75 10.62'A 15.25 8.00 12.75 17.00 20.25 24.50 S.871A 2.75 29.37% 18.00 33.00 33.37V New York stocks (Supplied By Richardson Securities of Canada) Amr T and T Anaconda Beth Steel Chrysler Comsat DupoTif. GM Gulf Int Harvester Kenn Copper 20 Golds 292.53 off 6.40 94.12V2 10 Base Met 96.61 Off .8 21.25 15 W Oils 223.35 up .01 36.75 Volume 18 YORK AVERAGES 20.62V2 30 Indust 913.15 off 3.9 63.50 Westinghouse Elec 20 Rails 174.01 off 2.67 24.00 U.S. Steel 15 utilities 107.07 off .1? Gen Tel Elec 23.75 m OA nff i 24.50 TORONTO AVERAGES 65 Stocks 283.94 off 1.81 Sears X-Ron 2r.75 Texas Gulf 2S 50 Texas Co 49.00 Wickes Corp 175.25 Woolworth Montgomery Ward 21.00 20 Indust 208.30 off .56 Volume Coal job to end Coal man Ted Anderson of the Allied Coal Co. smiles despite the fact he will be out of work May 15 when the last retail coal supplier in. Greater Vancouver shuts down. Customers are switching to oil or gas, with the nearest coal outlet 40 miles east in the Fraser Valley. ___________________ Economic unity is at stake in B.C.-Manitoba egg war VANCOUVER (CP) Ex- perts no longer haggle over whether the chicken or the egg came first. The great Canadian egg war leaves no time for idle academic speculation. The government of Manitoba feels the economic unity of the country is at stake in its latest skirmish with British Columbia. In B.C., the New Democratic Party government insists it has the right to keep an orderly egg market, and the income of its egg farmers up, by keeping the cheaper Manitoba eggs out. But Manitoba, also under an NDP government, says that since its farmers produce more eggs than Manitobans consume, they must export to survive. The root of the B.C.-Manitoba egg fight is chicken feed. Most B.C. farmers must pur- chase feed through a grain dealer who gets prairie grain through the Canadian Wheat Board, and the cost has jumped to a ton from two years ago. The Manitoba farmer can buy his own feed from a grain farmer across the road or may even raise his own. The savings are substantial and the Mani- toba farmers can charge less for their eggs. Manitoba says that by bar- ring Manitoba eggs B.C. is vio- lating Section 121 of the British North America Act, which states: "All articles of the growth, produce or manufac- ture of any of the provinces shall be admitted free into each of the other provinces." B.C. counters with Section 95 of the same act which says that "in each province the legisla- ture may make laws in relation to agriculture in the province." If there is to be any resolu- tion to the dispute, only one of many chicken-and-egg wars tbat have broken out over sev- eral years, it will probably have to be political. Recent court de- cisions appear to support the Manitoba position, but more than one province has ignored the court rulings and others have accepted them only reluctantly. A political settlement may come in Ottawa next week when delegates from all provin- cial egg boards meet, but few farmers will be betting on its chances for success. tf stems recessing an 1003 4th S., lethbridga Telephone 328-4426 rocessim J HiramWalkers Spec Gentle RyeWhisky; ;