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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 24, 1973, Lethbridge, Alberta Thursday, K.ay 24, 1973 THE ISTHBRIDGE HERALD 17 TSE stock prices move up sharply TORONTO (CP) Prices on the Toronto stock market moved sharply higher in moder- ate mid-session trading today. The industrial index, consid- ered the major indicator of market trend, rose 1.02 to 203.47, base metals .38 to 92.93 and western oils 1.63 to 205.61. Golds, however, slipped 3.85 to 286.23. Volume by 11 a.m. was 000 shares compared with 000 at the same time Wednes- day. Advances were slightly ahead of declines, 123 to 112, while 161 issues were unchanged. Bank, oil refining, industrial mining and general manufac- turing issues were among gain- ing sectors of the market while beverage, merchandising, real estate and communication stocks declined. Hudson's Bay Oil and Gas rose Vz to Commonwealth Holiday Inns V2 to Stelco Vz to Magnasonic 'i to and Reed Shaw Osier to Molson A fell ].i to Bow Valley to and Alcan to to light trading on the Montreal stock market today. Combined volume on the Mon- treal and Canadian stock ex- changes at 11 a.m. was shares, compared with shares at the same time Wednesday. Industrials gained .90 to 219.00, the composite .74 to 209.11, utilities .60 to 150.52 and papers .06 to 104.85 while banks lell .14 to 249.49. On the Montreal Stock Ex- change, Noranda Mines was up Ts to Shell Canada to and Dominion Stores to while Hudson's Bay Com- pany was off to and Calgary Power to On the Canadian Stock Ex- change, Caliper Development two cents to 28 cents shares. Electric power Arthur Farrall, 74, an East Lansing, Michigan, in- ventor, checks some gear in his electricity-powered "Green a Volkswagen customized to fight pollution and eliminate expensive gasoline station stops. Farroll soys hs cruises at about 35 miles per hour and pays only the price of plugging it into a socket in the garage. Britain enjoying industrial boom Gibraltar rcsa to S24'i. and Rio Algcm 18 to L'jdson Mining slipped U to and Camflo 20 ceris to Francana gained 25 cents to and Peyto 15 cents to Niiro-c vvas off T2 to NEW YORK (AP) The stock market accelerated its re- cen'l upward drive today, appar- ently welcoming the news that U.S. exports exceeded imports in April for the first time in 18 mouths. The naon Low Jones average 9.56 at 9C4.53, while advances held a more modest 653-to-479 edge over declines in moderate trading on the New York Stock- "time alona will dictate that it has to be updated." Trade Minister Alastair Gil- Among Canadians on the New York exchange, Mclntyre was j ronecus information distributed MOXTREAL (CP) A'l sec- tors except banks advanced In down 2 to Walker Gocder- ham to and Dome to Alcan was up }8 to I dustry, the auto agreement as end Inco to Grain Prices TORONTO (CP) Mr. Reimer says the auto and. the United States will re- j pact is eight years old and negotiate the auto pact to the I benefit of both secies, sajs j Borge Reimer, new chairman of I the Automotive Parts Manufac- j lessee has told the Commons fi- turers Association nance committee be will "not Mr. Reimer also is president i be stampeded'" by any pressure of Hayes-Dana of Thorold. from Washington to accept one of the 200 member-corn- changes in the pact. He said he panies cf the association which i held constructive exploratory has a vital interest in the trade j talks with the U.S. treasury sec- talks expected to begin this; retary in March. I HATCHING GATT BOUND i The automotive parts industry also is watching what will take i place in the new round of nego- tiations dealing with the Gen eral Agreement on Tariffs and Trade, scheduled for later this year. This could affect exports oi Canadian after-market pro- duction. The parts industry, whose Miscellaneous quotations Vancouver, Calgary, Montreal {Supplied by Doherty, McCaaig Limited) LAST BID OR SALK a.m. Quotes) a.m. Quotes) summer. "There has been a let of er- about the asreemen'." l.s savs. "In the view of the parts WESTERN OILS Albany Oils Alts East Gas Airninex Asamera Ashland Oil Gas B.P Canade Brenda Wines Canada Soutn Cdn Export Gas Cdn Homestead Cdn Ind Gas Oil Can Long Is Cdn Superior Charter Oils Chieftan Dome Pete Dynasty Fort Reliance Giant Mascot Cranisle Great Plains Great Ccin Oil S Lochiel Ex M'.NES Falcon Copper 1 03 F and M Ti usi 7 50 Gepstsr Home Oil A Home Oil B Hud Bay Co Hud Bay Oil Hud Bav Oil A Huah Russell C Oi, HLSky Oil B husky Oil D war Husky Oil E Wr Hys of Canaoa Ir.'er Prov Pipe Infer Prov Steel Kaiser Res Lobiaw 2 "10 C we know it Ijas been berielicial to both Canada and the United 1 States and the agreement is i here to stay. has been so much higher 1.66A; 1 61 Winnipeg grain WINNIPEG (CP) Oilseeds were up 10 cents in all months in light trading at mid-session en the Winnipeg Coin- jnodity Exchange. Buying orders in rapeseed and flax were comjig frwn all directions and going unfilled. j p. Rye was active and was up ax 2V 12 o U CO 3j .0 3J 50 13 SO il.OO 5-1 19 12' J3 121 645 7 50 "00 12 '5 '050 '1 30 .10 70 830 2 SO J8 2 SO "5 West Con Westfield Mm il 37'3 west Win i5 v.'eston a' 7 A 23 Whitepass Yut 1 C3 Cl 1.1 50 PIPE LINE STOCKS Alta Gas A million annually. It feels that an export target of million is not an extravagant 6 4 per cent lower than in the corresponding period last year. The total, however, 2.1 per cent or fil.l million higher i aim- than in the last half of the 1972 A''V improvement m that 1 area lessen the industry's Acres Limited Aquitaine 6.C Swar Pre Block Bros Cdn Brew A Cdn Brew B Cdn Pac Inv Crest Forest Crowsnest Indus Cygnus A Cyguns B 2oOO leOD Alta Gas 10 Alta Nat Gas 11 Inland Hat Gas 6 "0 North Cent Gas 98 North Cent B 5 Pac Gas Trans i 70 Metro Gaz Metro A Trans-Can Pipe Trans Can A Trans-Can B Trsns Pipe Wr West Trans War 1325 22.37'-; 1500 2 75 76 75 32 87Vj 2625 7 00 27 00 7 75 7.75 CALGARY Acroll Barons Oil N Continental Western Warier 13 171 70 00 2000 1095 2? 25 1200 .1 -o 6J.OO 35 75 6700 4250 720 IP 00 2 90 Cl (11 oo a m. Quotes) MIMES Aron -0 A-lcs EoUr Bj'li No'se Croyden Dan''.oa Dolly Vdrdc-n Eoutcnal Res Lcrr.ex Prune" Pyramid S.iver Standard Valley Coppe- INDUSTRIALS Col K-J Indust Viardair OILS P'p Plains Pele Pcnoeray Exolo" 1 ri Intl Res 85 MUTUAL All Co- CDTI 689 7 53 AM Col Divid 7 il 8 13 ft' COT Vent Amr Gr c AGF Special Cdn Invssi F Col Mutual Cmnw Ir.'er Lev Vent Corp Invest Ccrp In St F Dreyfus F U S. Great Pacific G, In Snares Gr Equity Invest Gr F Invest Mutual Mutual Ac Mutual Gr F Nat Res N w Cdn N W G- Pnncipal Gr Roytunct Temp Gr United Ac Umve-sal Sav Univesr Vanguard LONDON (CP) -Britain cur- rently is enjoying the biggest boom in industrial product i o n since 1964 but the yo-yo history of the economy has led to a spirited debate on how long it will last. The government exudes con- fidence with Prime Minister Heath saying Britain is achiev- ing a five-per-cent annual ex- pansion and he is "determined to continue a healthy and sus- tained rate of growth." Predictably, pessimists of the "what goes up must come down" school question this con- fidence. A number of impartial economists are skeptical that a hefty rate can be sustained. "The dash for growth on which Mr. Heath now is em- barked could lead either Oo daz- zling triumph or to disaster." says The Guardian Weekly. "It is possible to take either view. Nevertheless, recent statistics paint a rosy picture of the cur- rent state of the economy. I EXPORTS INCREASE Britain's exports in April rose i by million million) to i an all-time monthly record of i million Im- ports fell and although Britain still had a trade gap this was more than covered by the sur- plus on invisible trade such as transport, insurance and the like. Meanwhile, industrial produc- tion, helped by soaring con- sumer spending, rose by an an- nual rate ci 9.1 per cent in the first quarter of 1973, surpassing the 1964 trend. Unemployment has been steady at around and the government predicts this figure, representing an unemployment rate of less than three per cent, will drop soon. One development that worries economists is Britain's current spending spree which the Lon- don Evening Standard recently described as ''It's spend, spend ard scend again." Peter Jay. economics editor of The Times, hss suggested that it is a "boom that must go bust He and ethers argue that the economy is becoming dan- gerously overheated. There also is considerable wsriress against putting too much stock in one month's A so 4.n j trade figures. if is! "The only figure you can be- j ijeve days is the one treasury official is quoted But despite warnings from some quarters that the boom will end in a severe let-down, in the tradition of the "stop-go" movement that has plagued Britain in the past, the govern- ment remains confident. The treasury argues that the boom will subside spontaneously and swiftly before the limits of ca- pacity are exceeded next win- ter. JVo increase in price of Volkswagen TORONTO (CP) A spokes- man for Volkswagen Canada Ltd. said today the company does not anticipate price in- creases to match the latest round by Volkswagen of Amer- ica Inc. The United States oompany announced its third set of in- crases for the year Tuesday when it raised prices an aver- age of 2.9 per cent Volkswagen Canada has in- creased prices twice this year the last time May 11 and the company spokesman said the two increases here were greater than those in the U.S. and now about match the three increases in the U.S. "We hope that this will carry us through the mode] the spokesman said. 3 n 5 21 2 50 J.86 72 5.72 5 33 520 5.70 Id 77 1623 374 .ill 7 08 7 78 i 5 95 6 53 555 569 3 35 718 5 26 J. 77 A 02 4.-.I 621 6.'.9 9 43 10 31 33 5 36 7 41 5 fri 608 6.26 3 59 785 578 524 a 14 as saying. lease 6 C6 6 a I 6 64 in tr year. May Oct Nov Oats May Jly" Oct Dec Barlev 172 n 172'R May Jly Oct Dec 164U Rye May ns% 117 113-8 171 170" i 161 167 Jly Oct Dec 177 131 179 168 391 386 374 3o7 117 117 114' a 112 171' 2 165 161 171 J 2 173 Balance of urofits. alter pro j "ependcnce on the U.S. market, --ion for income taxes and i wmch has grown from to appropriation for mmes, (Supplied By Richarflson Secnrities of Canada) LAST BID OR SALE ded a.m. Quotes) MINES r.m. auoTes) CIl'DO a.m. lion in I3vi5 when the auto pact was introduced to almost bilHon last year The association will also con- transfer losses, amounted to 1 or a share The per-share j earnings v.ere five cents higher! -111 than in the first half of last i cen' year known to the gcveinment here. Assets at Apnl 30 were M G04 A iia'50n committee is being es- billion, up 27.3 per cent or' lablished to present the in- than in the first half of last cenlrate on making its views billion date in 1972. over the same 'PURCHASING FREEHOLD MINERAL RIGHTS Reply to Box No. 110, Lethbridge Herald FOR SALE EXCLUSIVE executive type split level home on large landscaped corner lot; 3 living room with large kitchen and dining area with built-in units; uniquely finished rumput room with fireplace; utility and furnace rooms; plus a com- pletely self-contained 4 roomed suits. Close to schools, bus service, shopping and only a minutes drive from industrial oreo. VIEWING BY APPOINTMENT ONLY PHONE 327-8242 Livestock report I Calgary livesfock i CALGARY (CD on the Calgary Ihcstcck mni to 11 a.m. today tctjlled i head, mostly steers wcs i active with a broad Slaughter steers were fully steady with sales to heif- ers were 25 co'vs ''.ere i mostly lower gratis v.ilh prices: bulls wrre H Al. A-> steers v. 25-ifi 30. A3 44-43. Al, A2 heifer -43 A3 42-43. Dl, D2 fivis D3 32-33.75, D4 Goad bulls 37.40. i c i -try's views before new legis- i larion is passed and agreement i are The formation of such a com- I anitiee. Mr. Reimer says, is j only recognition of the growth i ihat is envisaged for the in- j dustry in future years. Acme Advocate Asb. Bralorne Broufan Bethlehem Brunswick Can. N.W Land Canada Tung. Cassiar i Central Pat. Chimo Ccnivest Cons Rambler Ccin Lake Cochenour Cra'gmont Dickenson Mines DemscKi Mines Deer Horn D'Eidona Dome Mines Donalda Discovery Mines East Malartic East Sullivan Fnlccnbridge Frobex First Mantimes Ciant Y K. 22 Glendale 30 17's Grt Cdn Oil 2ri Ccn Motors 2 en Grt Lakes Pp 10" Culi Oil Caa 1 Greyiioul d "3 Havre' C d 1, Hur S Erie 6 50 Hiram Walker I-: 37'2 Imp Oil 1 S3 Imasca 3 Ir.t Nickel I2i j inf McMillan BIca P CC'D Molsons A i Hog" EDMONTON (CP) cge prices to 11 a.m. today riovided bv the Alberta Hog Producers Marketing Board. Eriuomoiv 41.10. average i Wednesday 40.92. Calgary: 41.05, average Wed- nesday 4! .00. Lelii'indfa: ml, average Weonesday 40.89. Total hogs so'd to 11 a m. Bellinger Huoson bay M S Hydra Ex. Iron Bay Iso Joliet Kerr Addison Key Anacon Lafaaor Lrke Shore Lanois Silver R L Replacement c-alile total sold Wednesday, 4, mostly shorlkeco steers j f04' 43'65' Sows aver' ing 850 to pounds and sell-! ing firm. No stock calves were i offered i Dollar Value Martin AAac'ntyre Inter T Moou! Nu V. Homes Athons New Calumet W Hcrse Copper Norar.dn No'lex 13 Pine Pom! 1-CO Place' DPV. 1 95 p.c Exp .42 Quebec 1362V3 Ravrock J 10 RsdlOT 5S5 Rio Algoin 1 '2 Roman Corn 10 87V; Sherritt Ccrdon 1 15 Steep Rock 1 36 Tek Coro, a 00 Texmonf 340 Upoer Cnada 276 Inv Grp A "1 Western ft1 nes J 9" Irt Un! 1 3 Wright Hargreaves 1 3? Ind Accept 625 w.uroy 1 08 Kaps -i.SS Vviindfall 1-1 Lajrentide 2900 Yellowrniic Bear 3 JO Kelly Doug Zenmsc .06 Loeb 37i; INDUSTRIALS Loi'aw A 88.50 Aoilibi 50 Met Stores Alcan 70 Alnonia Slefl Atco Ind 2J0 Atlantic Suga' 2S Aara Ind .20 Bell Tel 36 Brazil Trac 7 75 B C Tel 2 25 Burns 3 IS B r Forest 42 12'2 B.C. Sugar 20.0U Bovv vai ind 30 CAE Ind 375 Cdn B-ew 1 95 23 Col Cell 10.50 Calqary 72': Coron Credit 40.50 CW.N. Gas Pfd 3 ''O Cdn Ind .06 Cdn iVarconi 7 01 Cdn Vickers 1 15 ChrvMer Jl C P R 52 00 Cominco .1J COT; Bjt'i t-''i Ccns Gab 11 9.CO Dom Br.dqe 20 .26 Dom Text.le 7 PO Do-71 S'o f. Dome Pete CO 25 S 3S Dota-co 25 f Nova Scotia .32'': Cable U 50 Royal "00 f 10 6700 2000 3300 K50 o 50 27 "T, 15.75 10 00 o 75 10 SO Nc-th CPlt S.5 rO Powrr Corp Price Co Rothmans St Lew Cot p Shell CDA Simp Steel of Ccta Selkirk A Texsco Traders Grp A Trans AAtn Pp Trans Cda Pp Union Carb U'm'cT GTS Un.on Oil United Siscoe Ve-satile Mfg Wssteel Wesicn''; B Woodward's A West Cr'n Seeo Zenith Elec BANKS Crin J.TJO 16 CO 1535 1900 2575 925 1 SO ?70 25 JO 1 BO 1025 1500 375 lt.87' 29 17 26 P7V 17 TO 1525 37 75 T ctt ?700 49 ?5 3725 17 25 25 75 0 02 2 ?3fO 17 25 750 II 75 "10 00 :j 37' 17 50 27 ?5 17 55 00 ?s 700 062'. 11 00 1375 11 62'; 1925 16.25 TO 12 30 1J25 5750 It 75 20 "7Vj oo 'f 75 1.4 '0 625 2050 OTTAWA (CP) Exports i and imports rose to record lev- j els in the first three months of j this year as sales to the United States outstripped a decline in exports overseas. Statistics Canada reported Tuesday. I Exports to all countries in the j j first, quarter stood at mil- 1 j lion, live per cent higher than f in the last quarter of 1972. Im- ports rose about 10 per cent, to million. That left a trade surplus, ad- justed to account for seasonal factors, of million. The sur- J plus in the last quarter of 1972 j was ?569 million. j The statistics bureau said j sales lo the United States rose eight per cent to million. I imports from the United States increased 6.5 per cent to 787 million. Shipments overseas declined slightly to million, while imports from abroad rose 19 per cent to million. The trade surplus with the United States of million marked a return to the high levels posted in the first half of 1972, and an improvement over he last half of 1972, when tt Win award Sicks' Lerhbridgp Brewery Limited has won a national safety contsst for the lowest lest time accident frequency rate among Canadian brew- cries of similar size in 1972. The contest was sponsored by the Brewers Association of Canada. During 1S72 only one lost time accident occurred in the plant, on July 17. Prior to thar date, the plant had opercated 333 days without a lost time accident. The average employment in the plant for the year was 147 employees working a total cf hours. An award, for the safety achievement, was presented by T. M. Sterling, vice-presi- dent and general manager of Molson Western Breweries Ltd., of Calgary, to Gordon Coyle, chairman cf the saieiy committee of 1973. Members of the 1972 brew- ery safety committee were John Syme. Gordon Coyle, Gordon Roberts. Frank Pop- son, Keith Robertson. George Goodrich, Jess Crabb, and Art Fleischhauer. Gold prices Gold futures. U.S. funds. Winnipeg Commodity Exchange c 1 o s a Wednesday. Jly 73 114.50, Oc( 73 118.50: Jan 74 120.50B. Apr 74 124.00B; Jly 74 127 SOB. Tuesday's volume: 28 con- tracts. 5 17': 2 70 7" ?5 17 75 30 -'0 32 621 Good feeder steep-, irorc tlinn 850 pounds 42-46. Gcnrf focdcr, heifers more than 39-44. Hogs base price 41 MONTREAL 'CP) U S dollar in terms cf Canadian i New York stocks (Supplied By Richardson Secnrities of Canada) surplus dipped to mOJion. j Without the seasonal statis- i tical adjustment, exports to the I United States rose 23.5 per cent j from the first quarter of 1972, to million. Imports in the i same period rose 27 per cent to million. pounds funds at noon today was up 1-25 at 24-25. Pound sterling down '2 at 4-5. 1 and T 51 50 00 Amco ,.n 1875 Std Oil of N J. 9 c.2': Steel 29 87'2 Texas Gjlf Chryi'rr 2f.75 Texas Co 3: '750 Ccrp I7 SO Dipont 50 tooo.v.orfh K' GM 68 00 Westmcihouse Elec 11 Gulf IT 50 US Steel 3.' 17' In Harve-ler 27 37V3 Gen Tel Elec V8 7-. Ke-.n Crpjer TORONTO IViDnttinmery Word 2050 20 Indust 20366 up 1 20 Golds 27941 s" 104 10 Base Met off it, 15 W Oils 2S307 up 4 09 Velum" 20 Rails 166 up .65 15 Utilities 1C6 75 up U 65 Stocks 279 57 uo 2 30 Volu-ne 6 jOO no Beef futures WINNIPEG (CP) -Live beef futures close Wednesday. Jly 45.00; Sep 42.60B; Nov 42.25B. Tuesday's volume: Eight contracts NEW RGIL-TEX Replaces Pshif GUARANTEED 10 YEARS against peeling, Taking, chipping Now available at BRULEKS PAINT and WALLPAPS4 32T 6fh Street S. IN-STORE DEMONSTRATION Saturday, May 26 E specializing in ventures Suite 2910-One Calqary Piaro C.ilq.iry, Alberuj Tel: KDMONTON (CP) egg and poultry report issued by the federal agriculture de- partment: Kegs: To producers: A large 53: A medium 51: A small B 33: C 10; cracks 18 To retailers: A large 64-65; A medium 62-63: A small 50. To consumers (in A large 70-75; A medium 68-71; A smpll 53-57. Poultry: To Producers- Live No. chicken broilers, 28; fi and cr s and under fi, 28; under 4, 5-7. Turkey under 12. 12 to 18. 35; over 18, 35. Live 2 chicken broil- ers, 6 and over 26U; 5 and under (i, turkey under 12, 32; 12 to 18, 32; over 18, 33. JT reces ecessng 1003 4th Avenue S., lefhbridge Telephone 328-4426 V, rocessing rviccs ;