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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 31, 1974, Lethbridge, Alberta Crtlttr. Mm 1tT4 THI LITHIIIIDM HIMLD-II. The HeraU Business Stocks Miscellaneous Montreal MIDLAND DOHERTY LIMITED WESTERN AND Alton Albany Alia East Ashland BP Canada Brenda Cda Cdn Ex Cdn 15 Cdn Ind Gas Vz Cdn Long Cdn Chieftan Dome Fort Giant 15 Gibraltar Gt Gt Cdn Oh Lochiel Lytton 70 Noble North Cdn Numac Oil Pancdn Pan 45 Place Ranger Scurry Total 62V4 Ulster United Westcoast West 62 V4 Acres BC Sugar C 25 Block Cdn Pac Inv A Carlmg O'Keefe A Carlmg O'Keefe B Corrtm Cap Crestbrook Forest Falcon F and M Trust Home Oil 25 Home Oil Hud Bay Hud Bay Hugh Russell C Husky 87 '4 Husky Oil B Husky Oil D Husky Oil E Interprov Pipe interprov Steel Kaiser Kaiser Res 80 Loblaw Co 2 40 C Pacific Pac West Pe-Ben Oilfield Rainier Royal Sandwell Teledyne Tnmac Canbra Foods Westfield Mm Weston A Pfd While Yukon 600 400 5.50 3.40 .99 50.00 7.00 PIPELINE STOCKS Alta Gas Trk A Alta Gas Trk Pfd 55.00 Alta Nat Gas n OTA Gat Metro Inland Nat Gas 8 50 N and C Gas 11.25 N and C Gas B Pfd 1975 Pacific Gas Trans 9 75 Trans-Cda Pipe 29.25 Trans-Cda Pipe A Pfd 54.25 Trans-Cda Pipe B Pfd 31 25 Trans-Cda Pipe War 3 35 WC Trans WC Trans War 2.50 CALGARY Acroll Barons Oils .06 N Continental 02 Western Warner 29 VANCOUVER MINES Atlas Explorations .25 Bathurst Norsemmes 1 31 Dankoe 2 05 Davenport 55 Dolly .Varden 22 Equitonal Res .11 Lornex 7.05 Northair Mines 2 26 Primer 05 Pyramid .10 Silver Standard 1.82 Valley Copper 670 INDUSTRIALS Key Industries 10 Wardair 1 62 OILS August Petroleum .33 Plains Pete. 14 Ponderay Explorations 70 Stampede Int'l Res 61 MUTUAL FUNDS All Cdn Compound 5.41 5 88 All Cdn. Dividend 5.69 6 18 All Cdn Ventures 2 94 3 20 Amer Growth Fund 415 456 AGF Special 2.12 Cdn Invest Fund 4.41 4.83 Collective Mutual 4.63 5.08 Eaton Comnwlth 5.40 Eaton Leverage 2 89 Eaton Int'l Venture 2 74 Corp Investors 5 47 6 01 Corp Invest Stock Fund 4.12 4.53 Dreyfus Fund U.S 9.47 1038 Grouped In Shares 2 73 Growth Equiety 5 95 6 54 Invest Growth Fund 10.68 11 68 Investors Mutual 5.11 559 Mutual Accum E.46 6 01 Mutual Growth Fund 2 76 3 04 Nat Resources 4 06 4 46 N W Cdn 4 90 5 38 N W Growth 4 08 4 48 Principal Growth 3.70 4.13 Provident Mutual 669 731 Royfund 5 03 5 24 Templeton Growth 7 25 7 94 United Accum 4 04 4 44 Universal Savings 7 03 7 73 Univest 5.43 5 97 Vanguard 5.09 5 58 Toronto industrials by Richardson Securities MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can NW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons Rambler Com Lake Cochenour Craigmont Dickenson Mines Demson Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Mantimes .Giant Y K Granduc HoMmger Hudson Bay A Hydra Ex Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malarnc G F Martin McNeely Maclntyre Mela Midrim Intern Mogul Nu West Homes New Athona New Calumet Noranda A Northgate Norlex Pine Point Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sherntt Gordon Steep Rock Sunningdale Tek Corp A Texmont United Canso Western Mines WH Copper Mines Wright Kargreaves Willroy Windfall Yellowknife Bear Zenmac INDUSTRIALS Abitibi Atcan Algoma Steel Atco Ind Jannock Agra Ind Bell Tel Brascan A BCTel Forest 1 Sugar A 1 Valley Ind 1 Ind 11 O'Keefe 4 5 Cellulose 3 Power Credit Gas Pld Ind Marconi Vickers 1 5 62 Bathurst Gas 40 4300 Seagrams Dom Bridge Domtar 5 25 2 Textile Stores Pete Mobile Cdn Oil Motors 20 Lakes Paper Oil 1 Sid Walker 11 Erie Oil A 4 15 Nickel 1 Pipe 1 Grp A Int'l Accept Douglas A 6.62' 20 A Ferg 5 62' Bloed 23 Corp Molsons A 1 B Cent Corp 9.50 Co Peyto Rothmans Shell CDA 675 3.50 Simp Sears Steel Can A A 2 3 Grp A 1 Mtn Pipe Can Pipe Carbide 3 Gas Oil Siscoe Mfg 2625 Woodwards A Canbra Foods Zenith Elec 6.37 Imperial Montreal Scotia 14 62 Dom 11 00 16.50 1825 19.12V2 1275 8.37 256 575 500 22 62V4 2 30 9.25 1975 3.10 16.50 15.62V2 1400 2700 2700 1500 3700 41 75 2425 10 1475 3.90 7.50 47.75 2050 27 37 Vz 1537V2 525 4625 2250 2800 26.75 26.75 15.37V2 6.B7VJ 1450 2 10 490 775 335 6 37 11 50 1625 27.25 47.75 2200 6 62 'A 11 25 13.00 5.50 11.25 10.50 29 62VJ 1300 27.00 9.75 29.50 18.75 7.87 'A 10.25 5 612Vi 21.37 22.50 340 300 2625 16.75 32.75 32.25 36.75 York by Richardson Securities of Amr T T Woolworth Anaconda 21.25 Westmgnouse Elec 15.50 Bein Steel U.S. Steel 41 Cnrysler Gen Tel Elec 22.25 Comsat TORONTO AVERAGES Dupont 159.87'A 20 Industrials 18751 down .78 General Motors 50.00 20 Golds 406.81 down 14.80 Gull 10 Base Metals 81.15 down .56 Int Harvester 25.25 15 Western Oils 186.00 up .53 Kenn Copper 33.25 Volume Montgomery Ward 24.50 NEW YORK AVERAGES Sears 20 Industrials 801.62 down 1.95 Exxon 71.62V4 20 Rails 16020 up 35 Texas Gulf 26.00 15 Utilities 7333 down 25 Texas Co V4 65 Stocks 242 55 down 34 Wix Corporation Volume Lower TSE prices trend continues at week's end Ha ndym a n 's s to re The home handyman will soon have another supply store with the opening of the Thunderbird electrical and plumbing supplies for the do-it-yourselfer. Charles Goodine moves dirt for the parking lot of the store on Mayor Magrath Drive. The question is when the store will open as the company contracted for the construction job is White from Wash. One worker said the- company has had trouble trying to operate from across the border. The permit for the job was given to the company Dec. 15 1973. Construction on the project began last Dec. 15. Crop seeding operations hampered by wet weather OTTAWA Prairie seeding operations have fallen behind still further because of wet Statistics Canada reported Thursday. The late season is forcing farmers to switch wheatland into faster maturing oilseed and coarse grain crops. In the third of 11 reports on crop conditions on the the statistics bureau said that farmers are seeding in southwestern Manitoba and in much of Alberta. the land is still too While seeding operations could become general throughout the Prairies within a week if the weather farmers are about one to two weeks behind in many parts of the country's grain belt. Reports from other parts of the not included in the Statistics Canada indicate similar weather problems. On the the statistics bureau said Manitoba seeding and field work operations are under way in the southwestern and that operations are expected to begin in the central region before the weekend. Cattle are still on supplementary feed in the eastern Interlake and northwestern where spring work won't begin for at least another week. In where less than 15 per cent of the crop is operations were delayed by an additional two inches of ram last week. Seeding is expected to resume in a few days if fair weather returns. In seeding is slowly becoming widespread. In southern parts of the about 75 per cent of the 50 per cent of the coarse grains and 30 per cent of the oilseeds have been planted Further spring operations have been held back because farmers still are attempting to harvest crops left on the fields last fall. TORONTO Prices on the Toronto stock market were sharply lower in light midmorning trading today. The industrial index fell 1.34 to golds 17.2 to 404.39 and base metals .28 to 81.43. Western oils rose .37 to 185.84. Volume by 11 a.m. was 000 compared with shares at the same time MONTREAL All sectors moved lower in light trading on the Montreal Stock Exchange today Volume at 11 was 171.200 shares compared with 186.800 at the same lime Thursday The industrial index fell .89 to 197.61. banks 85 to 248 75. the composite 82 to 189 22. utilities 55 to 127 86 and papers 45 to 119 60 Canadian Vickers fell to International Nickel to Genstar to and Macmillan 'j to' S27'4 while Dominion Bridge rose Sl'z to Among speculative issues. Chibex Ltd fell 13 cents to 35 after trading 8 800 shares VANCOUVER Prices were up in moderate trading on the Vancouver Stock Exchange Volume at the close was 2 071692 shares On the industrials board. Bell Canada A was unchanged at 50 on a turnover of 12.000 shares Bank of British Columbia trust units were down 12' t at on 10.300 shares Key Industries was down 01 at 10 on 6 500 shares International Centura was unchanged at 19 on 6.000 shares Reed Shaw and Osier was unchanged at S7 and Adera was unchanged at 25 In the mines. Consolidated Fortune Channel rose 08 to 42 on 237 500 shares Henrietta was up 05 at 43 on 145.900 shares Sonesta rose 10 to 43 on 123.500 shares Consolidated Fortune Warrants A were up .03 al .21 on a volume of 69.800 Arcadia Explorations was unchanged at 52 and Ramco rose 05 to 36 Must active in the oils was Cop- up 01 at 42 on shares was up 04 at SI 35 on 6.700 shares Plains Petroleum was up 01 at 15 on 6.000 shares Pavel te Warrants A were unchanged at 06 on 6.000 Pavctte was up 01 at 23 and Vargas was down half a cent at O6'z Thursday. Declines outnumbered ad- vances 162 to 72 with 118 issues unchanged. Inco lost IV. to WalkerGooderham A to Royal Trust Vz to UAP A Vz to and Texasgulf to Dome Mines was down to Dickenson V2 to Market trends NEW YORK A rumored cut in the prime lending rate failed to materialize sending the stock market into a mild setback today. The 11.30 a.m. Dow Jones average ol 30 industrials was down 2.03 al 801.55 and losers led gainers by about seven to-four in light trading on the New York Slock Exchange Teledyne climbed 3 to jiy't in active trading' Sherritt Vz to and East Malartic to United Canso fell Vi to Asamera to and Ranger to Emco rose Vz to Aquitair.e to Bombardier 25 cents to Hamilton Group 25 cents to and Bramalea Consolidated Developments Vs to under selling pressurt since dropped another The NYSE volume leader Occidental Pelroleum. down Among Canadian issues. Seagram' gained Inco fell J4 to Alcan i to 4. Hiram Walker i U Mabsey Ferguson lo SI 6- 4 Canadian Pacific was unchanged a Livestock Calgary CALGARY Receipts to 11 a m. Friday from the Calgary public stockyards totalled 650 all replacements Trade wss moderateh active There were insufficient slaughter cattle or any kind on offer to establish quotations Replacement cattle were mostly yearlings in the lighter weight range and stock calves weighing 400 pounds and up A large percentage of the replacements lacked in quality Prices were steady with mid-week sales Good feeder steers more than 750 pounds1 40-4650 Under 750 pounds 44- 47 25 Good feeder heifers 35-39 Good stock steer calves more than 400 pounds 42-48 Good stock heifer calves more than 400 pounds 36-41 No hogs were sold to 11 a m Beef futures WINNIPEG Live beef luturcs close Thursday Sept 60A Nov 10A Jan IDA Wednesdav s volume No contracts Final wheat Chicago markets Dollar Hog prices EDMONTON Average prices to 11 a m Fridav provided bv the Alberta Hog Producers Marketing Board Thursday's prices in brackets Edmonton. 3425 Calgary- no sales Red Deer- 3400 Grande Prairie 3275 Llovdmmster nil Hogs sold lo II a m 1 337 total Thursday 3.006 average 34 02 Sows average 18 25 Currencies MONTREAL Friday's mid- day foreign exchange selling rates supplied by the Bank of Montreal Australia dollar 1 4400 Bermuda dollar 1 02 China renmmbi 5175 Denmark kroner 1670 France franc 2020 Germam mark 3855 ItaK lira 001545 Japan ven 003490 Mexico peso 0785 Swil7erland franc 3280 United States dollar 9660 United Kingdom pound 2 33 USSR ruble 1 2781 Quotations in Canadian funds Double-check on sands sought EDMONTON Provincial NDP leader Grant Notley said Thursday environmental studies concerning Syncrude Canada Ltd's oil sands extraction plant should be double- checked by independent researchers He said in an interview the studies are being done by Esso Research and Engineering a subsidiary of Esso Oil. Esso is one of four major oil companies involved in the Syncrude consortium that is constructing an oil sands plant in northeastern Alberta. Mr. Notley raised the matter of environmental research in the asking if Esso was doing most of the study into the Syncrude plant. His question was ruled out of order. The NDP in the subsequent said Esso's work should be reviewed by other researchers not connected with companies in the Syncrude consortium payment mailed out WINNIPEG -A final payment totalling more than million was sent this week to about western farmers who held 1972-73 Canadian Wheat Board special permit Otto minister responsible for the wheat said Thursday. The payment is the last being made under the original two-price wheat system and involves about nine cents a bushel on 40 million bushels. In Mr. Lar.g said in a prepared these payments will be received directly from the wheat board as part of the final payment under the new two-price wheat program started in 1973. Economic growth rate outlook ''encouraging' VANCOUVER Canada achieve a substantial rate of real economic growth this one of the country's leading economists predicted Thursday. The prediction was made by Dr. Douglas vice-president and chief economist of the Toronto-Dominion at the opening session of the 1974 Ca- nadian Business Outlook Conference of the Conference Board in Canada. He said that while world-wide inflation remains a critical problem i t now appears that the Canadian economy will advance by more than five per cent in real terms in Both Dr. Peters and Dr. Ralph chief economist and assistant general manager of the Royal Bank of told about 300 businessmen attending the one-day conference business capital investment will provide the prime source for Canada's economic momentum. all business investment is proceeding at a brisk seemingly un- deterred by recent adverse developments on the energy said Dr. Peters. investment is expected to rise by 20 to 25 per cent in although a third or more of that gain will represent price Dr Sultan said total investment spending in Canada has been accelerating sharply since the economic downturn of 1968 through 1970 with total investment outlays almost doubling in the last five billion in 1969 to an expected or billion this year. Their optimistic predictions contrasted sharply with a much gloomier picture of the United States economic scene painted by Albert T. Sommers of New senior vice president and chief economist of The Conference Inc. Mr. Sommers predicts the U.S. will end the year with an real growth rate of down from five per cent in 1973. he said the outlook is that the growth rate will begin picking up in the last half of the year and might reach about 3Vz per cent in 1975. At the same time he predicts the rate of inflation in the now running close to 11 per will ease during the second half of this year and amount to about 7Vz per cent next year. Turning to the long- ran investment Dr. Sultan said and the rest of the industrialized is embarking on a period which will be characterized by massive investment projects. Noting that the total Canadian output last gross na- tional about Dr. Sultan said the key question is where the money will come from if the country's investment plans are to be realized. He suggested that personal savings represent one of the best opportunities for raising large sums of capital but this will require suf- ficient incentives to save as opposed to He said the corporate sector is the most likely source of investment funds. such funds must come from corporate profits and recent government initiatives in the field of resource decrease the rate of capital for- mation in the corporate sector if actually CHICAGO The United States senate s approval of gold ownership by citizens served to set off limn gains in silver futures early on the two major U S exchanges Thursday but the advances were trimmed by profit taking belore the close Not manv other rommoditv futures posted gains for the day Most closed lower for a variety of reasons The senate action on Wednesday produced a predictable limit gain early on Ihe Chicago and New York exchanges in silver futures after about 30 minules at the top level some selling of a profit taking nature set in and prices fell back New York silver closed with a gam of up to 13 cenls an while Chicago silver was up nearly 20 cents an ounce. A Brazilian decision to continue its rebate lo producers on coffee shipments lailed TO instill any bullish moves in colfee futures which closed mixed Cocoa cotton and orange juice also were while copper was lower and world sugar a shade higher Live cattle and shell eggs closed on weak tones on the Chicago Mercantile Exchange while live hogs and pork bellies gamed Live hogs gained up lo 85 cents a hundredweight on buying linked lo improved dressed pork prices while bellies gained up lo 125 pomls on ihe strength in hogs Cattle lell up to a hundredweight under influence ol lower cash while shell eggs up to 130 points alter easier grain prices and ample country otlenngs were noted Corn oats and sovbeans traded lower throughout the session At the close. Chicago wheat was 3 to 5 cents a bushel lower. Julv 3 57. Gulf hard red not traded corn to lower Julv 268'2. oats 'z to 3 lower July 1 .11 and soybeans 1 to lower Julv 5 54 Grain quotes Thursdav Jul 57. Sep 3 hi. Dec 3 71. Mar 78 Corn Jul Sep 2 59. Dec 2 44. Mar 2 48'2 Oals Jul 1 31 Sep 1 33. Dec 1 Mar 1 38 Winnipeg grain WINNIPEG Activity continued light with mixed prices at mid-session today on thi Winnipeg Commodity Exchange Rye was the only futures commodity to show strength with prices higher by as much as 25d cents a bushel Flax eased in all while rapesecd was mixed in generally light trade Thursday's volume of trade was 669.000 bushels of 1 066 000 of rapesecd and 1.019.000 of rie Mid-session pnres Flax July lower 988'iA Oct unchanged 9 37A Nov four lower 9'10A Dec four lower 8 26A and May not open Rapeseed Vancouver June four lower 7 Sepi 3i lower 6 Nov 2'i higher 6 Jan unchanged 6 16A Rapeseed Thunder May Iwo higher 680 July three higher 6 SOB. On lower 625'jA. Nov two lower 625A Rye Mav Iwo higher 2 59B July higher 2 Ocl Pi higher 2421iB Grain quotes Thursdav basis Lakchead High Low Close Flax Mav 982'2 Jlv 996 980 990 Ocl 945 937 937 Nov 635a4 62f. Dec 830 Rapeseed Vancouver Jun 745 732 Sep 706 695 697'2 Nov 627 Jan Rapeseed Thunder Bay May 692 678 678 687 677 677 Oct 626 Nov 627 Rye May 257'2 254 257 Jlv' 245'5 24634 Ocl 24P4 240 241 Dec 239 MONTREAL -US dollar in terms of Canadian funds at noon today was up 1-25 at 1-5 Pound sterling was up 11-25 at In New the Canadian dollar was down 1-25 al SI 03 1920 Pound slerlmg was up 7-20 al S2 39 3-5 Treasury bills OTTAWA New 91-day treasury bills issued Thursdav million at an average price of 97 895 and average yield ol 8 63 per cent. Last week S240 million at 97 912 and 8.56 per cent 182-dav million at an average price ol 95 735 and average yield of 8 93 per cent Last week. million al average price of 95 725 and average yield of 8 per cent Earnings Algonquin Building Credits three months ended March 31 1974 000 24 cents a 1973. 13 cents Bank of six months ended April 30 1974. 6 98 cents a share. 1973. 9 million. 93 cents B.C. Sugar Refinery six months ended March 31 1974 23 a share 1973 97 cents Chieftain Development Co. thice months ended March 31. 1974. J238 420. six cents a share. 1973. SI 55 cents Brown and Co. year ended March 31 not three months as previoush reported 1974 43 cents a share 1973. 68 cents Daon Development six months ended April 30 1974. a share. 197.1 41 cents Delia Potels year ended Dec .11 197.1. 000 18 cents a share 1972. siv cents Elecirohomc three months ended March 31 1974. 18 cents a share 1973. SI. 144.000. 38 conls Fairview Corp. of Canada vear ended Fcb 29 1974 554 000. 49 1 cents a share 40 4 cents Harvey Woods three months ended March 30 1974. Iso Mines year ended Dec 31 1973 one cenl a 1972 Ihree three months ended March 31 1974. 1973. S. B. McLaughlin Associated Ltd.. three months ended March 31 1974 S9I8 000. 32 cents a share. 1973. two cents Melchers year ended Dec 31 1973. loss four 1972. one cent. Penningion's Stores 13 weeks ended March 30 1974. 5 2 cents a share. 1973. 7 6 cents Metals LONDON Closing meidls bid-ask in pounds sterling a metric ton silver in pence a troy ounce 1 038-1.042 lulurei 1 OOS-1 006 Tm-spjl 3 futures 3 688- 3b90 242 244 249-250 630-635 futures 604-605 205 5-206 3 months 211 5-212 Gold prices LONDON Thursday's closing gold prices in U S dollars an ounce London-162 00 Pans-166 41 Frankfurt-162 70 Zunch-156 50 Hong Kong-153 21 188 a kilo Qold futures WINNIPEG Gold U S funds Winnipeg commodity exchange close Thursdas Jlv 50B Oct 258 Jan 60B Apr SOB Jlv 75-184 20B Wednesdav's volume 110 contracts Dividends THE CANADIAN PRESS Dividends are quarterly unless otherwise noied Brooke Bond Foods Ltd 4 16 per- cenl pld 26 cents Julv 15. record June 14 Falconbridge Copper 20 cents. June 28 record June 11 Good Tire and Rubber Ltd.. 15 cents June 28 record June 7 4-per- cent pfd 50 cents Julv 31 record JuK 10 Imperial Oil class A. 20 B. 17 both able June record June 7 International Mogul Mines Ltd.. 12'2 semi-annually July 1 record June 1 6-percent 1st pfd series A 30 cenls Julv 1 record June 15 Slater Steel Industries Ltd.. 17 cents. July 31. record June 28. 5'2-pcr-cenl 10 series. 5'2-per- cenl pfd SI. 102nd series. 27'2cents. 6- pcr-cenl pfd 20 series. 30 cenls all payable Aug 1 record June 29 Alberta Natural Gas Co. 27' corns June 28 record June 14 Canadian General Securities Ltd.. class 15 cenls. class 15 both pavable July I record June 7 Consumers .Distributing .Co. 2'j cents. JuK 15. record June 28 Experienced Baker Required Full-time for new bakery located in Jasper National Park. Benefit from the availability of year round recreational facilities. Contact Jasper Box 1497 Alberta or telephone 852-3247. FOR SALE As a result of the cancellation of The Sound and the following equipment is for sale. model General Electric 6 million candle power electric arc Searchlights together with some spares including carbon operator's and main- tenance hand books. K.W. D.C. gasoline motor driven. Purchase is F.O.B. Alberta. For arrangements to view Mr. Association tor Historic P.O. Boi Alborta ;