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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 21, 1974, Lethbridge, Alberta May W4 THE LETHimoae Toronto prices continue drop TORONTO Prices on the Toronto stock market were sharply lower in light midmorning trading today. The industrial index fell .78 to golds 9.76 to base metals 1.86 to 81.27 and western oils 1.35 to 179.16. Volume by 11 a.m. was 000 shares compared with shares at the same time Friday. Declines outnumbered ad- vances 182 to 55 with 177 issues unchanged. VANCOUVER Closing prices were down on low trading on the Vancouver Stock Exchange Friday. Volume was shares. In the Canterra was down .02 at .53 on shares. Newmark was up .01 at on shares. Tokar remained unchanged at J2.H on shares. lonarc was unchanged at .60 on shares. Northwest Finance was unchanged at J1.10 and Imperial Marine was down .01 at .12. In the mines. Henrietta was up one- half cent at .27 on shares. Geo- Dyne was down .01 at .16 on shares. Northair was down .02 at on 32.300 shares. Pegasus was down .10 at on shares. Anglo Bowmark was up .02 at .64 and Westland was down .01 at .05. IE the oils. Stampede Was up .01 at .66 on 5.650 shares. Chapparal was up .01 at .06 on August Petroleum was up .01 at .35 on shares. Vargas was down one-half cent at .09''2 on shares. Copex Mining was down .01 at .32 and Plains Petroleum was down .01 at .14. Prices were mixed today in light trading. First-hour volume was shares. On the industrials Key Industries was at .12 on a turnover of 10.000 shares. Northair led trading in the mines anji was at on a volume of shares. Most active issue in the oils was Coseka. unchanged at on 800 shares. MONTREAL Prices were generally lower in light trading on the Montreal Stock Exchange today. Volume at 11 a.m. was 210.626 shares compared with shares at the same time Friday. Industrials fell 1.27 to the composite 1.03 to 184.15. banks .54 to 237.32 and utilities .42 to 128.38 while papers were unchanged at 118.62. Falconbridge Nickel fell to Genstar to Canadian Hydrocarbons V2 to and Dofasco Vi to yvhile Canadian Javelin rose Among speculative issues. Macdonald Mines fell four cents to on a volume of shares traded. NEW YORK Some comparatively good news on inflation sparked a mild advance in the stock market today. The a.m. Dow Jones average of 30 industrials was up 3.68 at and gainers took a narrow lead over losers on the New York Stock Exchange. The pace of trading remained however. American Electric down at was the most active issue on the NYSE. Glamor stocks mostly shared in the advance. Bausch and Lomb was up to Digital Equipment to IBM to and Upjohn 1 to Golds were with Dome Mines down 2Vz to Campbell Red Lake to and ASA Ltd. to Among Canadian issues. Seagrams lost 'A to Alcan was up 1 to Canadian Pacific V8 to Inco to Massey Ferguson V8 to On the American Stock Research-Cottrell led the active unchanged at Livestock Calgary CALGARY Receipts to 11 a.m. today from the Calgary Public Stockyards totalled 835 mostly slaughter cows and lightweight heifers. Trade was slow. There were no steers in early sales. Slaughter cows and heifers met Winnipeg grain WINNIPEG There were few takers on the offers at mid session today on the Winnipeg Commodity and prices were lower in all grains and oilseeds in light trade Flax prices were down as much as 30 and declines in Vancouver and Thunder Bay rapeseed ranged from two cents to the 20-ccnt limit. Rye was several cents lower in all months. Mid-session May 27 lower 9.51 July 26 lower 30 lower Nov. 13 lower Dec. 19 lower 8.25A. Rapeseed June 8 lower Sept. lower Nov. 14 lower 6.22A. Jan. 2 lower 6.10A. Rapeseed Thunder May 20 lower lower Oct. 2 lower 5 r 6.20A. May 3 lower July lower Oct. 6'.'4 lower Dec. 5'4 lower 2.41 'zA. Chicago markets CHICAGO Farm futures prices tumbled sharply -Monday. Wheat apparently under pressure from the new crop coming in the declined by as much as 14 cents for the July contract at the board of trade. soybean oil and meal also were down. At the Chicago Mercantile pork belly futures retreated by 120 to 150 points. Sources said hog receipts at marketing centers were high and the same was expected tor Tuesday. Live hog futures dipped by 40 cents to a hundredweight and cattle contracts were off by 55 cents to At the close on the Board was 5'2 to 14 cents lower. May Gulf hard red wheat 14 cents lower. May corn 7 to cents lower. May oats 1 to the limit 6 cents May and soybeans to 9'a cents lower. May 5.44. Prestige Office Space FOR RENT Phone 327-6747 pressures and sold at prices lower. Bulls were steady- Heifers. Al. 44.50-45.85. 43- 4450. Cows. Dl. 30-32. 26-30. D4. 22-26. 34-37. Feeder cattle and calves met a narrow selling at about steady prices. Good feeder steers more than 750 46-47. Good feeder heifers more than 750 38-42.50. Good heifer 38-42. Hogs f.o.b. to 11 36-36.05. Hog prices EDMONTON Average prices to 11 a.m. provided by the Alberta Hog Producers Marketing Board. There were no sales across the province Friday. 35.95. 36.05 Red 36.00 Hogs to 11 a.m. Sows average 20.00. Currencies MONTREAL Monday's midday foreign exchange selling rates- supplied by the Bank of Australia dollar 1.4450 Bermuda dollar 1.02 China renminbi .5235 France franc .2040 Germany mark .3980 .Japan yen .003540 Mexico peso .0790 Switzerland franc .3405 United Stales .9660 United Kingdom pound 2.35 U.S.S.R. ruble 1.2781 Quotations in Canadian funds. Metals LONDON Closing metals bid-ask in pounds sterling a metric silver in pence a troy futures 1.060-1.065 futures 3.845 Lead-spot futures 249-250 futures 562-564 3 months 232-232.5 Dollar value MONTREAL U.S. dollar in terms of Canadian funds at noon today was unchanged at 17-50. Pound sterling was down 31-50 at 4-5. In New the Canadian dollar was unchanged at 4-5. Pound sterling was down 13-20 at 3-5. HEATED WAREHOUSE SPACE sq. ft. first location sq. ft. second location t for Information call Ducan Industries Ltd. 328-7785 Extension 31 The Herald Business Home Oil B lost to Monarch Life 2 to Canadian Occidental Pete to Imperial Oil A H to and Noranda A to Ca'mflo fell to Dick- enson to Patino to and Sherritt to Pan Ocean was down to Merland 25 cents to and Total Pete to Alcan rose Vz to Ranger to Standard Broadcasting Vi to and Shell to Stocks Miscellaneous Montreal by WESTERN OILS AND MINES Atton Mines 5.50 Albany Oil .36 Aita East Gas 4.75 Alminex. 5.00 Asamera 9.00 Ashland Oil 7.75 BP Canada 12.50 Brenda Mines 5.25 Cda Southern 3.15 Cdn Export Gas 2.50 Cdn Homestead 4.00 Cdn Ind Gas 6.75 Cdn Long Island -14 Cdn Superior 38.75 Chieltan Dev Dome Pele 24.75 Dynasty 8.00 Ft Reliance .20 Giant Mascot 1.15 Gibraltar Mines 8.75 Granisle 8.75 Great Plains 37.50 Grt Cdn Oil Lochiel Explor 1.50 Lytton Min 1.66 Noble Mines .45 North Cdn Oil 3.65 Numac Oil 13.00 PanCdn Pete 9.75 Pan Ocean 8.75 Petrol 1.S5 Pinnacle .32 Place Gas .36 Ponder .47 Ranger Oil Scurry Rain 26.87V2 Seibens Spooner .28 Total Pete 7.00 Ulster Pete 1.00 United Canso 16.00 Wsstcoast Pete 3.90 West Decalta 5.25 MISCELLANEOUS INDUSTRIES Acres Ltd Aquitaine BC Sugar C Ptd 11.50 Block Bros 3.25 Cdn Pac Inv A Pfd' 27.25 Carling A Pfd 18.50 Com Capital 2.30 Crest Forest 7.00 Crows In 26.00 Falcon Copper F M Trust 4.75 Genstar 18.50 Home Oil A 31.00 Home Oil B 31.00 Hud Bay Co Hud Bay Oil 27.50 Hud Oil A Pfd 40.00 Hugh Russell C Ptd 67.50 Husky Oil 16.00 Husky B Pfd 36.25 Husky D Warrants .80 Husky E War Inter Pipe War '3.35 Kaiser Res 4.00 Kaiser Res War Loblaw C Pfd 25.12Vj Magnasonics 2.25 Pacific Pete 18.75 Pac West Air 6.75 Pe-Ben Oil'ield Rainer Inc 3.87V2 Royal Trust 22.25 Sandwell 6.SO Teledyne 3.85 Trimac Canbra Foods West Min West A Pfd Whitepass Yukon 5.50 3.40 .97 50.00 PIPELINE STOCKS AltaGasA 11.75 Alta Gas Pfd 55.00 Alta Nat Gas 17.75 Gaz Metro 5.50 Inland Nat Gas N C Gas N C B Ptd 19.50 Pac Gas Tr TrCda Pipe 29.25 TrCda A Pfd TrCda B Pfd 31.25 Tr Cda Pipe War 3.50 West Tr 19.50 West Tr War 2.40 CALGARY Acroll .37 Barons Oils .09 N. Continental .02 Western Warner .30 VANCOUVER MINES Atlas Explorations .25 Bathurst Norsemines 1.22 Dankoe 2.45 Davenport .60 Dolly Varden .25 Equitorial Res. .11 Lornex 7.60 Northair Mines 1.97 Primer .05 Pyramid .09 Silver Standard 1.83 Valley Copper 7.00 INDUSTRIALS Key Industries .12 Wardair 1.62 OILS August Petroleum .32 Plains Pete. .15 Ponderay Explorations .75 Stampede Int'l Res .61 MUTUAL FUNDS All Cdn. Compound 5.47 5.95 All Cdn. Dividend 5.70 6.25 All Cdn. Ventures 3.03 3.29 Amer Growth Fund 4.25 4.67 A.G.F. Special 2.13 Cdn. Invest Fund 4.31 4.72 Collective Mutual 4.56 5.00 Eaton Comnwlth 5.44 Eaton Leverage 2.92 Eaton Int'l Vent 2.81 Corp. Investors 5.45 5.99 Corp Invest Stock Fund 4.10 4.51 Dreyfus Fund U.S. 9.69 10.62 Great Pacific 4.23 4.62 Grouped In Shares 2.71 2.98 Growth Equity 5.96 6.55 Invest Growth Fund 10.53 11.51 Investors Mutual 5.07 5.55 Mutual Accum 5.39 5.92 Mutual Growth Fund 2.80 3.08 Nat. Resources 3.98 4.37 N.W. Cdn. 4.81 5.29 N.W. Growth 4.09 4.49 Principal Growth 3.68 4.04 Provident Mutual 6.60 7.22 Royfund 5.97 6.22 Templeton Growth 7.37 8.08 United Accum 3.95 4.35 Universal Savings 7.11 7.82 Univest 5.48 6.02 Vanguard 5.23 5.73 Toronto industrials by Richardson Securities MINES Acme Advocate Asb. Akaitcho Bralorne Broular. Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chirno Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines New Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Marilimes Giant Y.K. Granduc Hollinger Hudson Bay Hydra Ex. Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Meta Midrim Intern Mogul Nu West Homes New Athoria New Calumet Noranda Northgate Norlex Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherritt Gordon Steep Rock Sunningdale Tek Corp. A Texmont United Canso Western Mines WH Copper Mines Wright Hargreaves Willroy Windfall Yellowknite Bear Zenmac INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Jannock Agra Ind Bell Tel Brascan A BC Tel Forest Sugar A Valley Ind Ind O'Keefe Cellulose Power Credit Gas. Pfd Ind Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker Erie Oil Nickel Pipe Grp A .11 Int'l Accept Douglas A A Ferg Bloed Corp A B Cent Corp Co CDA Sears Can A A 6.1 Grp A Mtn Pipe Can Pipe Carbide Gas Oil Siscoe Mfg A Foods Elec Imperial Scotia Dom 11.75 16.50 18.25 17.75 12.00 8.25 2.50 5.62'A 22.50 2.30 9.25 18.50 3.05 16.50 13.75 25.00 25.00 14.75 36.25 9.75 24.75 4.25 44.37 23.00 25.75 16.25 5.12Vi 44.25 20.75 25.87V4 25.62V2 26.75 16.00 6.87 Vi 12.25 14.75 2.50 4.70 7.75 3.50 6.00 12.00 16.12V2 25.50 47.00 20.25 19.50 6.50 11.00 11.00 12.25 12.00 .12.87'A 7.25 10.25 12.50 36.50 9.75 13.12V2 29.25 18.25 10.25 5.25 5.50 19.00 20.25 21.37V4 3.40 3.00 16.75 31.25 31.25 34.50 New York by Richardson Securities of Amr T T 46.75 Woolworth Anaconda 23.00 Westinghouse l6.12Vz Beth Steel U.S. Steel 42.75 Chrysler 15.87V4 Gen Tel Elec 22.50 Comsat 34.12V4 TORONTO AVERAGES Dupont 17025 20 Industrials 183.16 down .66 General Motors 46.25 20 Golds 446.43 down 27.10 Gulf 20.25 10 Base Metals 80.87 down 2.26 Int Harvester 25.50 15 Western Oils 177.95 down 2.56 Kenrf Copper Volume Montgomery Ward NEW YORK AVERAGES Sears 81.50 20 Industrials 813.91 up 1.48 Exxon 71.50 20 Rails 164.23 up .27 Texas Gulf 24.50 15 Utilities 75.63 down .25 Tecas Co. 25.37V4 65 Stocks 247.39 up .26 Wix Corpn. 12.62Vi Volume Hong Kong investors eye B.C. VANCOUVER Ronald chairman of Hong Kong's Far East says concern over taxation has made British Columbia a less attractive place to Hong Kong investors. Mr. Li is leading a group of some 150 investment people on a visit to B.C. He said last week he had discussions with Vancouver Stock Exchange officials regarding reciprocal listing of Canadian and Asian securities on the VSE and Far Eastern Exchange. Mr. Li said Premier Dave Barrett's policies are to describing rent controls as disguised form of Mr. Li thought some Asian stocks might be listed on the VSE within a few months. He said the type of stocks they have in mind for listing here would be priced at the equivalent of 30-40 cents Canadian. RESIGNS FROM OFFICE Calif. Northrop Corp. board chairman Thomas convicted of making an illegal contribution to President Nixon's re-election has resigned as a Stanford University it was announced. The corporation and Jones pleaded guilty May 1 to contributing in company funds and were fined Grain for England More than two million bushels of grain enroute to is piped aboard the ton Capt. W. D. Cargill in Montreal. More than six million bushels were taken by several vessels over the weekend. Petroleum projects face more government control CALGARY In the charge of the petrochemical brigade for gas Albertans may be witnessing the last fling of private enterprise in the grand manner. For thundering right behind the wealthy developers is pro- posed provincial legislation to curb their activities- Government officials say that in the legislative works in Alberta is a policy for regulating distribution of Alberta's reserves of natural gas within the province. At only exported gas is subject to provincial control. Domestic gas is sold to the highest bidder. This officials the stampede during the last six months to unveil petrochemical projects has caught the province with its natural gas pumps unlocked. These now Say that some of the projects may never see the light of day. So seven different proj- ects have been announced rep- resenting billion in capital investment before 1980. It would also mean about 30 petrochemical all in the primary level of petrochemical development. There are other plans in the wings. Government sources earlier this year told industry representatives that about 15 groups have expressed interest in petrochemical development. But officials say the govern- Wheat price drop 'not ment is developing a policy to give it control of the petroche- mical industry by making interested companies obtain various permits. The Conservative government has served notice that the higher the utilization of gas and oil byproducts within the better the chance of government approval. Premier Peter Lougheed said last week his government will fight a huge petrochemical project planned at by Petrosar Ltd. on grounds it would hurt Alberta. The com- pany would not be able to de- pend on a supply of Alberta oil and the premier said. The premier gave full support to a proposal by Alberta Gas Trunk Line and Canadian Industries Ltd. which promises full production and processing in plants throughout Alberta. Officials say the government also is planning government regulation of domestic sales of natural gas in the province. there is no way the government can control the sale of domestic said a government official. the free it goes to the highest The motivating force behind the officials is the ammonia plant explosion shaking southern Alberta. Export of anhydrous am- monia is not controlled by legislation and it takes 50 million cubic feet of natural gas to produce tons of ammonia. Most of the ammonia from the five ammonia-urea proposals announced would go to foreign markets. SASKATOON Saskatchewan farm spokesmen said Friday they are not surprised or disappointed in the Canadian Wheat Board's decision Thursday to drop its export feeds price by almost a bushel. don't think any farmer in his right mind really expected prices to remain at the level which was being quoted at the wheat Walter president of the Palliser Wheat said in an interview. Mr. Nelson said the world price of wheat has been slipping for many weeks so the wheat board was forced to lower its prices if it hoped to make any important sales'. He didn't think the price drops would affect any farmer's seeding plans. St. Joseph the Worker Council Knights of Columbus will present Right to CROWSNEST CONSOLIDATED HIGH SCHOOL AUDITORIUM On May 22nd at p.m. Guest Panelists including Rev. Tim Rev. Douglas John Trefanenko of the Social Service Charles Director of Pre- ventive Social Service and Dr. Margaret will attend. Films and slides will be shown. Coffee and doughnuts will be served. Everyone welcome. I I I The 74 Mercs. 100 ways better. Meet the 1974 Mercs. The most advanced outboards in boating. With over 100 improve- ments and refinements to give you better performance than any other power you can buy. From the Merc the most power- ful to the Merc 40. the most fully equipped 4 HP. on the water. There are 10 models to choose from. See them now at your Mercury dealer's. I I Gfli one of ihese HP Mercury 488. Qnur io. MERCURY. Power to do the things you really and Canoes FROM 10 FEET UP Boat Marine Supplies and Equipment Floater CoaU SERVICE AND REPAIRS GLASCON INDUSTRIES 327 3rd St. S. 328-4850 TOTAL FARM SUPPLY SERVICE Aluminum Car Trailers COMPLETE LINE OF Mercury Fishing 20 H.P. Available at UFA Centres in LETHBRIDGE and VULCAN 3131-2nd Ave. North Phone 328-5531 ;