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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 30, 1974, Lethbridge, Alberta May 1974 THE LETHBRIDOC HERALD Market lower in active trade TORONTO Prices on the Toronto stock market were moderately lower in active midmorning trading today. The industrial index was down .45 to 188.32 and western oils 1.07 to Golds were up 25.6 to 435.35 and base met- als .56 to 82.53. Volume by lla.m. was 000 shares compared with shares at the same time Wednesday. Declines outnumbered ad- vances by 111 to 110 with 174 issues unchanged. Alcan lost 1 to Bow Val- ley to Moore to Dome Pete Vi to and Interprovincial Pipe Line to Jannock special rose to Dome Mines 1V4 to Camflo to East Malartic to and Tara Vz to Ranger was down 1V4 to Sunningdale to Peyto to and Siebens V4 to Market trends MONTREAL All sectors moved lower in light trading on the Montreal Stock Exchange today. Volume at 11 a.m. was shares compared with at the same time Wednesday Utilities fell' 99 to 127 industrials .85 to 198 the composite .84 to 190 25. banks 31 to 249 97 and papers 10 to 120.06. Commco fell 1 to Moore Corp. to Canadian Javelin to Hawker-Siddeley to and Distillers Corp Seagrams 'j to Among speculative Chibex Ltd rose five cents to 49 after trading 19 500 shares VANCOUVER Prices were mixed in light trading Wednesday on the Vancououver Stock Exchange Volume at the close was 1.514.418 shares In the Key Industries was unchanged at 11 on 19.500 shares Canterra was up 02 at 46 on shares lonarc was at 55 on shares. EDP Industries was unchanged at 13 on shares. Block Brothers was up.10 at New mark was unchanged at 05 In the mines. Ramco Industries was up 31 on shares Henrietta was up 05 at 38 on shares SonesU was down 01 at 33 on shares Consolidated Fortune Channel was up 01 at 34 on shares. Anglo Bomarc was up .01 at .63 on shares. Spectroair was unchanged at .15. In the Cop-Ex was down .02 on shares Seneca Developments was up 01 at 03 on shares. Colonial was at 67 on shares Coynex was up 01 at 31 on shares Vargas was up 01 at .07 Payette was unchanged at .22. NEW YORK The stock market was mixed leveling off at its lowest point of the year The 11 30 a m Dow Jones average of 30 industrials was up .70 at 796 07. but losers maintained about a five-to-one lead over gainers on the New York Stock Exchange. Reliance the NYSE volume was down 's at in trading that included a 100.000-share block at that price also fell 3 to on top of a plunge Wednesday Gold stocks rallied as bullion prices rebounded in Europe Ltd was up I11 at Homestake Mining to S767B and Dome Mines 1 at Hecla Mining advanced to Sunshine Mining P's to and Callahan Mining 1 to I Among Canadian issues. Alcan slipped one and one-quarter dollars to Canadian Pacific to and Inco V4 Livestock Calgary CALGARY Receipts to 11 jm from the Calgary public stockvjrds totalled 700 head. mustU slaughter cattle Trade was moderateh active with an uneven demjnd due Lo the uncertainty of the pending packing house strike Slaughter steers sold steady with odd to 40 Heilers were steadv for quality Lightweight steers and heifers were discounted d lull dollar or more Steer and heiler quotations included the bcel qualitv premium Cows were Metals LONDON Closing metals bid-ask in pounds sterling a metric ton. silver in pence A trov ounce. 1 futures 1 034-1 035 3 715 futures 3745 247-248. futures 255-256 650-652. futures 623.5- 6245 Silver-spot 3 months 217- 2175 Dollar MONTREAL dollar in terms of Canadian funds at noon today was down 1-50 at 11-50 Pound sterling was doun 1-20 to 30''i In New the Canadian dollar was up 3-100 to 03 93100 Pound sterling was unchanged at 39 3-10 Gold futures WINNIPEG Gold U S Winnipeg Commodity Exchange close Wednesday July 74 157 Oct 74 163 Jan 75 Apr 75 July 75 179.20B. Tuesday's volume 181 contracts. bai eh to 50 cents lower Bulls sold steadv Steers Al A2 48 50-50 Heilers Al. A2 41-4350 Cows Dl D2 30-31 70 D3' 27-30 D4 22-2H Bulls good' 34-3b Replacement cattle were mostlv llcsln selling steady There were msulficient good stock calves on oiler to establrsh a market Good lecder steers more than 750 pounds 40-45 50 Hogs lob to 11 a m 34 25 Hog prices EDMONTON Average to 11 a m Thursday provided by the Alberta Hog Producers Marketing Board average in biaokets Edmonton 3400 00 1 Calgais 3425 Heel Deer Prairie Nil .1325 I Lclhhiidge Nil Hogs sold to 11 J m total 5.504. average 3392 Gold prices LONDON Wednesday's closing gold prices in U.S. dollars an ounce London 156 00 Pans Missing Frankfurt 154.25 Zurich 156 00 Hong Kong 152.29 Beirut a kilo Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted Canada Packers class 22 July 2 record June 14 Not class D. as reported by the Toronto Stock Exchange Canadian Salt'Co. 25 an increase of five June record June 7 M. C. Slavich. c.uu. Representative LETH8RIDGE 327-5514 E. Mayeske Representative LETHBRIDGE Tel. 327-5514 The Government said you could keep more of your income tax dollars. Why didn't We can help you keep more of this year's income. Call us today for a look at the future. The Mcinufiirlurnrs Life Insiir.incp Company Big ig task Edward G. re- cently named president of the U.S. Railway As- is facing the largest reorganization task of his bankrupt railroads. Jor- who admits he knows nothing about heads the government- chartered corporation that Congress has asked to revive the bankrupt Northeastern railroads by 1975. Winnipeg grain WINNIPEG Trading improved slightly by mid-session on the Winnipeg Commodity Exchange today with all commodities showing varying degrees of strength. The early buving interest from commercial dealers and some locals continued with flax slightly higher rapeseed advanced as much as six cents and rye up as much as five cents The price spread varied from the 30 cents higher in December flax to three cents lower in May position in Thunder Bay rapeseed the only month to post a decline Wednesday's volume of trade was 306.000 bushels of flax. of rye and 1 of rapeseed Mid-session prices Flax. May Vz higher 9.77B. July higher 9 85'zB Oct higher 9 42A Nov unchanged 9 Dec 30 higher 830B Rapeseed Vancouver June higher Sept higher Nov four higher 6.34A. h'gher 6 19'-iA Rapeseed Thunder Bay May three lower July six higher Oct higher 630B1 Nov unchanged 627B Rye- July higher 2 Oct higher 2.4lVBA Gram quotes Wednesday basis Lakehead High Low Close Flax May Jly 986 985 Oct 944 911 Nov 912 Dec 800 Rapeseed Vancouver Jun 731 Sep 708 698 V4 699 Nov 637'j 630 Jan 723 Rapeseed Thunder Bay May 691 Jly 678 674 674 Vi Oct Nov 627 Rye May 253 253 Jly 247 241 246'A Oct 241'A 241 Dec 239Vi 235Vi Chicago markets CHICAGO Commodity futures on major exchanges in the United States Closed generaly higher Wednesday on buying dominated largely by speculators looking for low priced bargains Silver which had been under selling pressure for gained 20 cents an ounce in New York and up to 30 cents an ounce in Chicago Copper futures gained more than 250 while wool was up 2 5 cents and cocoa rose some 350 World Sugar and Maine potato futures also but orange juice futures closed on a mixed tone Live cattle and hog futures soared to limit gains on the Chicago Mercantile and pork bellies were up more than 100 points while shell eggs gained nearly 200 points. All eased at the close under profit-taking Al the close. Chicago wheat was 12 to 15 cents a cushel July Gulf hard red 13 July 3 corn to 8 July oats 6 July 1.34. and soybeans up 8 to 10 cents. July 5.59'A. Grain quotes Wheat. Jul 3 60. Sept 3 Dec 3 Mar 3 82 Com- July Sept Dec Mar 2 SP'-i Oats July Sept Dec 1 Mar 1 39. Currencies MONTREAL Thursday's mid-day foreign exchange selling rates supplied by the Bank of Montreal- Australia dollar 1 4400 Bermuda dollar 1 02 China renmmbi .5210 Denmark kroner .1670 France franc 2020 Germany mark .3840 Japan yen 003500 Mexico peso 9785 Spam peseta .0172 Switzerland franc 3280 United States dollar .9660 United Kingdom pound 2 33 USSR ruble 1 2781 Quotations in Canadian funds. futures The Herald- Business Stocks Miscellaneous Montreal MIDLAND OOHERTY LIMITED WESTERN OILS AND MINES Afton Mines 5.50 Albany Oil .43 Alta East Gas 5.12V2 Alminex 5.50 Asamera 8 25 Ashland 8.50 BP Canada Brenda Mines 5.50 Cda South 3.15 Cdn Ex Gas 2.50 Cdn Homestd 4.10 Cdn Ind Gas Oil 6 75 Cdn Long Is .25 Cdn Super 40.00 Chieftan Dev 7.00 Dome Pete 26.62Vi Dynasty 8.25 Fort Reliance 21 Giant Mascot 1.18 Gibraltar Mines 8.75 Granisle 8.25 Gt Plains 37.75 Gt Cdn Oil S 7.25 Lochiel Ex 1.52 Lytton Mm 1.76 Noble Mines .52 North Cdn Oil 3 70 Niirnac Oil 11.75 Pancdn Pete 9.62 Pan Ocean 10.25 Petrol -1.50 Pinnacle .32 Place Gas 37'A Ponder .45 Ranger Oil 27.50 Scurry Ram 26.00 Seibens 13.50 Spooner .29 Total Pete 7 50 Ulster Pete 93 United Canso 17 Westcoast Pete 3 85 West Decalta 6.00 MISCELLANEOUS INDUSTRIES Acres Ltd Aquitame BC Sugar C Pfd Block Bros 3.00 Cdn Pac Inv A Pfd 28 00 Carlmg O'Keefe A Pfd 1800 Carlmg O'Keefe B Pfd 20 25 Com Cap Corp 2.35 Crestbrook Ind 5.75 Falcon Copper 10.00 F M Trust Co 4.60 Genstar 18.75 Home Oil A 34 00 Home Oil B 3250 Hud Bay Co Hud Bay Oil 29.50 Hugh Russell C Pfd 69.50 Husky Oil Husky Oil B Pfd 34 00 Husky Oil D War 55 Husky Oil E War 6 25 Interprov Pipe War 3 55 interprov Steel Pipe Kaiser Res 4.30 Kaiser Res War 1.87 Loblaw Co 2 40 C Pfd 24.00 Magnasonics 2 50 Pacific Pete 19 50 Pacific West Air 7.00 Pe-Ben Oilfield Serv 6.75 Rainier Inc 3.62Vi Royal Trust 23.12VZ Sandwell Teledyne Tnmac Canbra Foods Westfield Mir Weston A Pfd .White Yukon 6.00 3.75 5.75 3.40 1.05 50.00 7.00 PIPELINE STOCKS Alta Gas Trk A Alta Gas Trk Pfd 55.00 Alta Nat Gas 18.25 Gaz Metro 5.25 Inland Nat Gas N and C Gas N and C Gas B Pfd 20 00 Pacific Gas Trans 9 37 Trans-Cda Pipe 29.25 Trans-Cda Pipe A Pfd 54.00 Trans-Cda Pipe B Pfd 31.50 Trans-Cda Pipe War 3.15 WC Trans 19.50 WC Trans War 2.40 CALGARY Acroll .40 Barons Oils .06 N Continental .02 Western Warner 27 VANCOUVER MINES Atlas Explorations .25 Bathurst Norsemmes 1.35 Dankoe 2.15 Davenport 55 Dolly Varden 20 Equitonal Res. Lornex 7.05 Northair Mines 2.32 Primer .05 Pyramid .11 Silver Standard 1.80 Valley Copper 7 OS INDUSTRIALS Key Industries .11 Wardair 1 62 OILS August Petroleum .33 Plains Pete. 14 Ponderay Explorations 70 Stampede Int'l Res 61 MUTUAL FUNDS All Cdn. Compound 5.40 5.87 All Cdn. Dividend 5.68 6.17 All Cdn Ventures 2.95 3.21 Amer Growth Fund 4.13 4.54 AGF Special 2.12 Cdn Invest Fund 4.46 4.89 Collective Mutual 4.63 5.08 Eaton Comnwlth 5.40 Eaton Leverage 2.89 Eaton Int'l Venture 2.74 Corp. Investors 6.02 Corp Invest Stock Fund 4.12 4.53 Dreyfus Fund US 9.41 1031 Great Pacific 4.03 4.41 Grouped In Shares 2.70 Growth Equity 5.95 6.54 Invest Growth Fund 1080 11.80 Investors Mutual 5 16 5.65 Mutual Accum 547 601 Mutual Growth Fund 2.76 3 04 Nat Resources 4.04 4.45 N.W. Cdn. 4.93 5.42 N W Growth 4.06 4.46 Principal Growth 377 4.14 Provident Mutual 7 38 Royfund 5 03 5.23 Templeton Growth 7.29 7 98 United Accum 4.04 4.44 Universal Savings 7.03 7.74 UniveSt 5.43' 5.96. Vanguard 5.17 5.67 Toronto industrials by Richardson Securities MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat Chimo Conwast Cons Rambler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbndge Frobex First Mantimes 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 Midnm Intern Mogul Nu West Homes A New Athona New Calumet Noranda Northgate Norlex Pine Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherntt Gordon S'eep Rock Sunnmgdale Tek Corp A Texmont United Canso western Mines WH Copper Mines Wright Hargreaves Willroy Windfall Yellowknife Bear Zenmac INDUSTRIALS Abitibi Alcan Algoma Steel Atco Ind Jannock Agra Ind Bell Tel Brascan A BC Tel .09 Forest Sugar A Valley Ind 1 Ind O'Keefe Cellulose Power Credit Gas Pfd Ind 1 Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker Erie Oil A Nickel Pipe Grp A Int'l Accept Douglas A A Ferg Bloed Corp A 5.87 Vz Molsons B Cent Corp Co COA 9.87 Sears Can A Grp A Mtn Pipe Can Pipe Carbide Gas Oil Siscoe Mtg 07 A Foods Elec imperial 6.37 Scotia Dom 11.25 1650 1800 1825 12.75 8.50 2.55 5.75 5 12V4 22 62 'A 230 925 20.00 3.10 17.00 13 27.00 2700 15.00 3675 41.25 24.00 10.00 1450 25.00 3.90 7.25 4 20.50 27.62 V4 525 46 22.00 28.25 26.50 1550 12.62Vz 4.90 7.75 3.40 6 37 Vi 11 50 27 47.75 22.37 Vi 19.50 6 11.12V4 10.75 12.75 5.37Vz 11.50 7.37 Vi 10.75 29.50 1300 3800 9.50 29.25 7.87 Vi 10.25 6.00 18.87 Vi 21.00 22.62Vz 340 300 26.25 17.00 33.25 WINNIPEG Live beef futures close July Sept Nov 47 Jan 4R.50A Monday's volume. No contracts. New York by Richardson Securities of Amr. T i T 46.12Vz Woolworth 15 37Vz Anaconda 2l.87Vt Westmghouse Elec l562Vi Beth Steel 28.25 U.S. Steel 40.25 Chrysler 16.00 Gen Tel Elec 22.12Vi Comsat 33 SO TORONTO AVERAGES Dupont 162.00 20 Industrials 794 74 down .62 General Motors 49.25 20 Golds 15869 down 69 Gull 20.12Yj 10 Base Metals 73 30 down .03 Int Harvester 25.00 15 Western Oils 240.69 down .39 Kenn Copper 33.00 Volume Montgomery Ward 24.50 NEW YORK AVERAGES Sears 20 Industrials 187.56 down 1.21 Exxon 70.87Vj 20 Rails up 26.70 Texas Gulf 26.25 15 Utilities 82 38 up Texas Co 25 65 Stocks 185 94 down 1 28 Wix Corporation 12.25 Volume Method of handling wheat sales offers advantages WASHINGTON The Canadian method of handling wheat sales offers a number of advantages over the American free-market a United States study Newsprint price hike planned VANCOUVER British Columbia pulp and paper producers expect increases in prices for their newsprint and but when and how much is not known. A survey of a number of B.C. pulp producers indicated the price for bleached their major will rise July 1 to the area of or a and possibly higher. The last effective April was a boost of to to depending on grade. Regarding an executive of one firm said the price will likely be a ton within six to eight months. It was increased March 1 to a ton in the B.C. lower mainland and in the western United States. Officials said fluctuating market conditions and world currencies are making it difficult to settle on time and amounts of increases. One executive said the price of fuel oil for pulp mills has increased three times since adding a ton to the cost of manufacturing pulp. Petroleum costs adding to freight bills combine with the mill fuel hikes for an extra cost of about a ton. B.C. forest firms also will face higher labor costs this year when contracts are settled with the Internatioanl Woodworkers of America. Cut back made in wheat crop EDMONTON The Alberta agriculture department reports today spring seeding is slowly becoming wide-spread across Alberta. Many producers altered their original seeding intentions due to the late spring and are indicating a cut back in wheat acreage in favor of barley and rapeseed. Spring threshing is progressing rapidly in areas where last year's crop remains in the fields. recovery of crops is lower than originally expected due to the mice and snow damage during the winter and wet conditions this spring. Bushel weights are low 2nd grades have dropped the report said. but it may also discourage individual in- itiative by the Canadian wheat-grower and build an inflexible bureaucracy. The study was prepared by the General Accounting Office which does investiga- tions at the request of Congress. I was made public by Representative Charles Vanik prior to being submitted to Congress today. Gold price jumps LONDON price of gold jumped on the London bullion market today following a vote by the United States Senate to allow U.S. citizens to buy and sell gold. One dealer said the market was In early gold was sold for an an increase of from Wednesday's close. Gold mining shares rose sharply on the London stock market. In gold gained an ounce to stand at an dealers said. Vanik said in an accom- panying statement that the GAO report is no way a statement of approval or criti- cism of the program adopted by our good neighbors to the But he said the Canadian system seems to give priority to consumers and is time that Agriculture Secretary Earl Butt and his department realized that their duty lies in helping the American consumer rather than the agri-business The GAO report outlined the activities of the Canadian Wheat Board in developing markets and export sales and in regulating prices under Ot- tawa's contrasting it with the U.S. system where producers and exporters manage their own markets. In the GAO re- port found six and five in the Canadian system. While Canada has readily available information on its wheat problems persist over the reliability and timeliness of the data received in the U.S. agriculture department's' reporting the study said. Canada also has better con- trol delivery and marketing and can regulate the flow of supplies between domestic and export markets and create a two-price system to the price in Canada from higher world the report said. The Canadian system elimi- nates market fluctuations and speculation and makes easier to deal with agencies of Communist countries. It also facilitates product promotion and the study adds. Grains council sets date for metric system count WINNIPEG The Canada Grains Council metric conversion committee announced Wednesday that Feb. is the date set for the Canadian grains industry to switch to the metric system of measurement. The decision was made following a meeting of senior operating executives of grain the Canadian Wheat Board and the Canadian Grain Commission. Committee chairman Earl Baxter of the grain commission said the date was chosen for conversion because it is most convenient for handling companies to make the necessary changes in their scales and operating plants. As of that he country transfer terminals and all regulatory bodies will convert to the metric system. At most export grain contracts are written in metric to be the official unit of the grain trade after conversion. P. rocessnq 1003 4th Avenue Lethbridge Telephone 328-4426 recessing ervices Yours for only and the price of the One of ftie Nashua Copiers you can own in the NASHUA MURRITT COPY and BUY PLAN Copiers are avail- able which use sheet or roll feed every color books and even 3D objects make offset cur paper to and make up 10 30 copies per mutate We will be pleased to a demonstration in your ffn r nr in our showroom THE NASHUA 230 OFFICE COPIER ILLUSTRATED This is the first time this offer has been made in Canada and it's called the NASHUA MURRITT 'COPY and BUY PLAN Here's how the plan are given of a Nashua office copier by agreeing to purchase Nashua copy paper for a specified term You then immediately own an exceptional Nashua office copier The price is included in the cost of the paper If the paper prices rise due to inflation during this period you gam. since your pay- ments remain the same We were willing to take this risk because we know that once you have experienced a Nashua copier m your chances are that we will be doing business with you for many years to come. Also Nashua is the The Plan World's largest manufacturer of office copier papers But inflation protection is only one of the benefits you can gam through the NASHUA MURRITT COPY and BUY PLAN The plan also Provides you with immediate preserving your working cap- bank credit and leasing credit Improves your balance sheet Aids in departmental budgeting Absolutely no capital outlay. We invite you to learn more about the NASHUA MURRITT COPY and BUY PLAN. At no one of our Representatives will explain the plan and'all its benefits to you m detail Telephone our office today. and we'll airange a meeting____________ Nashua One of World's Big 3 in Office Copying NASHUA Offices Across Canada NASHUA MURRITT 257 -12th Street Alberta 327-7847 ;