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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 5, 1974, Lethbridge, Alberta Tuesday, November 5, 1974 THE LETHBRIDGE HERALD 23 Gold price rises; dollar in slump LONDON (AP) A slump- ing U.S. dollar on European money markets and fears of a deepening U.S. recession sent Oil supply report due in 10 days OTTAWA (CP) Energy Minister Donald Macdonald said Monday it likely will be at least another 10 days before a report on oil supplies is made public. Mr. Macdonald said he has received the report from the National Energy Board, but has not yet had time to read the document or present it to the cabinet. The report is based on hear- ings the board held throughout western provinces last spring on available oil supplies and domestic demand. Earlier, the government said it had hoped to release the report by the end of Oc- tober. The board study is expected to give a clear picture of how much oil remains in reserves in Alberta and Saskatchewan. Mr. Macdonald already has said dwindling reserves in the west will mean a reduction in crude oil exports to the United States, perhaps "to a trickle by the end of the decade." Wheat sales programs to be adjusted OTTAWA (CP) The wheat board will tailor its sales programs to take into account the poor yield of high- quality wheat from Western Canada this year, Otto Lang told the Commons Monday. Mr. Lang, minister respon- sible for the wheat board, said "there is certainly more lower grade wheat than usual on hand." "However, the wheat board sees a fairly large supply of good-quality wheat left over from previous years as well as a substantial amount in this year's he told Jack Murta "We will be making such ad- justments in selling programs as are required to meet the circumstances." He did not say what adjust- ments would be made. Mr. Lang also said the wheat board would like to reduce the amount of grain carried over, or kept on hand, from one crop year to the next. He said this year's surplus from the 1973 crop year was approximately 100 million bushels lower than the amount of 1972 grain on hand last vear. the price of gold up on the London and Zurich bullion markets today. In London the metal reach- ed an ounce, up over Monday's close. In Zurich it hit up from Gold last reached these levels in April, a month that recorded the metal's highest- ever trading price, an ounce. Gold is traditionally considered a safe investment in times of economic trouble. Dealers said the dollar was faring poorly in Europe because of bankers' fears U.S. short-term borrowing rates will again corne down in the near future; economic uncer- tainty over today's U.S. elec- tions; and the possibility of a U.S. coal strike next week. In Paris the dollar was down to 4.6750 francs from 4.68 at Monday's close. In Frankfurt it slid to 2.5510 marks, down from 2.5580. And in Zurich it was down to 2.8205 Swiss francs, from 2.8365. The Herald Business Stock prices continue downward Stocks Miscellaneous Vancouver, Calgary. Montreal Midland Doherty Limited Raw sugar price sets record NEW YORK (AP) The Soviet Union's purchase of tons of raw sugar has increased world sugar futures to a record SOVz cents from 48.97 cents a pound price in the March delivery. The Russians' purchase Monday from the Philippines came on the first day of a new two cent a day limit on the increase per pound in the price of sugar. Analysts say Arab countries have been buying up more sugar than they can use and speculating in sugar futures because con- suming countries have been pinched by short supplies. The analysts say the Russians also could be buying to drive the price up and increase their profit. However, other industry observers say the Russians may have sold too much sugar, and may have run short. The competition among consuming countries for sugar has driven the per pound futures price up 20 cents in the last six weeks. Sugar firm increases price again Building value up EDMONTON (CP) The value of building permits issued so far this year has soared above the million mark, well ahead of the same period in 1973. the city plann- ing department said Monday. Commerica) construction made up more than half the 10 month total this year, reaching Si com- pared with S79.144.425 during the same period iast year. Residential construction during the Jan. Oct. period this year totalled compared with in 1973. WANTED! By Bastedo Furniture UPHOLSTERY SAMPLES That have been borrowed and not returned. Will pick-up at no cost and no questions asked. PLEASE PHONE 329-3244 WESTERN OILS AND MINES Alton Mines 3.20 Albany Oil .22 Alia East Gas 4.90 Alminex 4.90 Asamera 7 75 Ashland Oil 6.50 BP Canada 11.00 Brenda Mines 4.15 Cda South 2.49 Cdn Ex Gas 2.25 Cdn Homestd 2.90 Cdn Ind Gas Oil 5.75 Cdn Long Is ,14 Cdn Super 33.00 Chieltan Dev 4.90 Dome Pete 20.75 Dynasty NyFort Reliance Giant Mascot .61 Gibraltar Mines 5.00 Granisle Gt Cdn Oil S 5.25 Lochiel Ex 1.20 Lytton Min 1.35 North Cdn Oil 3.65 Numac Oil Gas 11.87Vz Pancdn Pete 8.12% Pan Ocean 8.00 Petrol 1.20 Paloma 1.20 Place Gas Ponder .48 Ranger Oil 19.00 Scurry Rain 17.50 Seibens 6.67'A Spooner .20 Total Pete 5.25 Ulster Pete .68 United Canso 8.37'A West Pete 3.25 West Decalta 4 00 MISCELLANEOUS INDUSTRIALS Acres Ltd Aquitaine 15.00 BC Sugar C Pfd 11.00 Block Bros 3.00 Canbra Foods 2.50 Cdn Pac Inv A Pfd 27.50 Cdn Pacific Inv 14.00 Carling O'Keefe A Pfd Carling O'Keefe B Pfd Cornm Cap Corp 1.50 Crestbrook Ind 2 90 Crowsnest Ind 13.50 Falcon Copper 8.37% F M Trust Co 3.50 Genstar Home Oil A 23.00 Home Oil B 2025 Hud Bay Co Hud Bay g Oil 14.50 Hud Bay Oil A Pfd 27.00 Hugh Russell C Pfd 57.00 Husky Oil 15.00 Husky Oil B Pfd 32 00 Husky Oil E War 4.60 Interprov Pipe War 2.55 Interprov Pipe 13.12vt Kaiser Res 4 45 Kaiser Res War 1.89 Loblaw Co C Pfd 22.50 Magnasonics 1.65 Pacific Pete 18.50 Pe-8en Oilfield Serv Royal Trust Sandwell Teledyne Traders Grp Pfd Trimac Westfield Min Weston A Pfd White Yukon PIPELINE STOCKS Alia Gas Trk A Alta Gas Trk Pfd Alta Nat Gas Gaz Metro Gaz Metro A Pfd Inland Nat Gas N C Gas N a C Gas B Pfd. Trans-Cda Pipe Trans-Cda A Pfd Trans-Cda Pipe B PId Trans-Cda War WC Trans WC Trans War CALGARY Acroll Barons Oil N. Continental Western Warner VANCOUVER MINES Bathurst Norsemines Cima Resources Dankoe Davenport Lornex Northair Mines Primer Pyramid Silver Standard Valley Copper INDUSTRIALS Key Industries Wardair OILS August Petroleum Plains Pete Stampede Int'l Res MUTUAL FUNDS All Cdn Compound All Cdn Dividend All Cdn Ventures Amer Growth Fund A.G.F. Special Cdn Investment Fund Eaton Commonwealth Eaton Leverage Eaton Int'l Venture Corp Investors Corp Invest Fund Fund Dreyfus Fund U.S. Grouped In Shares Growth Equity Investors Growth Fund Investors Mutual Mutual Accum Nat Resources N.W. Cdn N.W. Growth Principal Growth Fioyfund Templeton Growth United Accum Universal Savings Vanguard 3.15 19.75 4.50 4.40 10.00 3.25 .56 45.50 6.12Vi 57.50 15.75 5.00 49.50 11.50 9.25 18.00 8.87 Vi 47.50 27.50 .75 1.85 .30 .03 .01% .23 .78 .35 2.00 .53 5.00 2.24 .06 .06 .96 4.85 .06 1.30 .15 .10 .54 4.91 5.07 2.19 3.72 1.85 3.86 11.11 2.54 4.33 5.04 3.70 8.79 2.51 5.15 9.50 4.55 4.99 3.51 4.15 3.48 3.28 5.01 6.06 3.58 6.57 3.88 TORONTO (CP) The To- ronto stock market was sharp- ly lower in light mid-morning trading today. The industrial index, wide- ly-based indicator of market trend, was off .95 to 162.71 and western oils 1.68 to 145.86. The decline was largely in response to a lower New York market where the threat of a national coal strike depressed prices. Gold shares moved against the trend with the gold index up 11 points to 488.34. Base metal index added .59 to 68.05. Hudson's Bay Oil and Gas fell to Canadian Imperial Bank '.'z to Alcan to Vi, Distillers Corp. to and Texasgulf to Canadian Cellulose rose 50 cents to United Cana- dian Shares to and Abbey Glen Properties 15 cents to Among golds, Campbell Red Lake gained 1V8 to Sigma to Pamour V2 to and Dome Mines to Sherritt Gordon lost lk to United Canso dropped V2 to and Peyto five cents to Numac was up to Market trends Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Tuesday from the Calgary public stockyards totalled mostly slaughter cattle. Trade was active on steers and heifers and moderately ac- tive on cows. All classes of slaughter steers and heifers met good local and eastern demands. Steers sold strong and heifers steady. Good cows were barely- steady to 50 cents lower. Good bulls sold lower. Steers, Al. A2: 49 to 50. A3: 47 to 49. A4: 44 to 47. Heifers, Al. A2: 41.50 to 44. A3- 40 to 41.50. Cows. Dl. D2: 20 to 22, D3: 16 to 19. D4: 12 to 16. Bulls, good: 20 to 24. There were no feeder cattle or stock calves in early sales. Hogs fob to 11 a.m.: 48.45. MONTHKAI, (CPi Prices were generally lower in light trading on the Montreal Stock Exchange today Hanks fell 1.63 to 216.93. industrials .02 to 171.94. composite .62 to 16H 52. papers ,45 to 103.35 and utilities .07 to 120.18, C.'onsolidated-Bathurst (ell '2 lo Imperial Oil A "2 to Union Car- bide Canada '2 to Alcan to International Nickel A to Hank of Montreal and Husky Oil "B to Texaco Canada rose 1 to MacMillan Bloedel Vi to Brinco Ltd. to Pan Ocean Oil to and Canadian Cellulose 55 cents to VANCOUVER tCPi Prices were up in light trading this morning on the Vancouver Stock Exchange. First hour volume was 133.616 shares. In the industrials. Block Bros, was up .05 at on 200 shares. In the mines. Northair was up .17 at on 34.050 shares. In the oils. Co Ex Min- ing was unchanged at .15 on 5.000 shares. Volume for the curbs was 13.000. Thor was up .06 at on shares. NEW YORK (AP) The stock market snapped out of a mild sinking Earnings By THE CANADIAN PRESS Agra Industries Ltd.. year ended July 31: 1974. a share; 1973. Metals Toronto mines, industrials (Supplied by Richardson Securities of Canada) VANCOUVER (CP) The British Columbia Sugar Refin- ing Co. Monday announced an increase of a hundredweight of sugar, the second increase within a week. On Thursday, the company- announced an increase of a hundredweight, which brought the price of sugar to from Bill Davies, general sales manager for the company, said panic buying in Europe, combined with low-yield beet harvests, is driving the price upward. He predicted massive buyer resistance all over the world if prices continue to rise. A spokesman for Canada Safeway said neither of the increases have yet beeen pass- ed to customers. The stores presently sell a two-pound bag of sugar for MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger A Hudson Bay M8S A Hydra Ex. Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malarlic G.F. Martin McNeely Maclntyre Mela Midrim Intern Mogul NuWes! Homes New Athona New Caiumet Noranda Northgate Norlex Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock Rio Algom Roman Corp. Sherrilt Gordon Sleep Rock Sunntnpdale Co'C A United Canso Weslern Mines WH Cooper Mines Wngril Harareaves Wilfroy Windfall 2-enmac Bear INDUSTRIALS _ s Steel Alco Agra Sell Brascan A BC Tel .07 1.25 2.08 1.02 .40% 10.00 1.02 415 3.25 3.30 3.70 .79 .92 2.55 2.75 .19 1.42 3.90 38.25 .28 57.25 1.36 4 90 1.95 29.50 .13 .45 1.50 23.50 .68 4.85 1.00 .15 .21 24.00 '10 .71 1.50 .33'.j 32.00 .10 13 3.00 4.55 .21 .14 31.50 3.80 1 7 "r 87 .20 1 00 .19 22.25 10.00 6.37'j 1.18 4.20 2.60 22 8.25 2.41 2.05 2.00 1 85 12 220 .06 21.121'? 23 75 11.50 5.25 41 12-.. 1 1 25 46.50 Burns BC Forest BC Sugar Bow Valley Ind Cable CAE Ind Cal Power Canbra Foods Can Cellulose Carling O'Keefe Chemcell Coron Credit CWN Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler CPR Cominco Cons Bathurst Cons Gas Disi Seagrams Dom Bridge Domtar Dom Textile Dorn Stores Dome Pete Dofasco Glen Mobile Grt Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Hawker Sid Hiram Walker A Huron Erie Imperial Oil A Imasca A Int Nickel Int Pipe Ivn Grp A IU Inn IAC Ltd Jannock Kaps Kei Douglas A Laurenlide Loeb Loblaw A Metropolitan Massey Ferg McM.1l Bloed Moore Corp Molsons A Molsons 8 Nachurs North Cent Peyio Power Coi-p Price Co 8.75 19.00 14.00 9.12 Vs 7.12VS 19.62V4 2.50 4.40 2.20 4.35 1.50 8.00 3.05 12.00 9.87% 13.50 25.75 23.75 12.75 31.75 37.50 19.50 LONDON (AP) Monday's closing metals in pound sterling per metric ton; silver in pence per troy ounce. Copper: Spot 60! to 602: futures 620 5 to 621 Tin: Spot 3.120 to futures 3.120 to 3.125 Lead: Spot 232 to 232.5: futures 220 to 221.5 Zinc: Spot 346 to 348: futures 343 to 343.5 Silver: Spot 203 to 204: 3 months 210 to 210.2 Currencies MONTREAL (CPi Tuesday's mid day foreign exchange selling rates supplied by the Bank of Montreal: France franc .2145 Germany mark .3905 Japan yen .003325 Mexico peso .0805 Switzerland franc .3525 United States dollar .9865 United Kingdom pound 2.3300 U.S.S.R. ruble 1.2958 Quotations in Canadian funds. Feed prices WINNIPEG (CPi Wheat Board domestic feed grain prices Mondav: 3 CW red spring .N'o. 1 feed barley 3.01. No. i feed oats 1.95. Beaver Engineering Ltd., nine months ended Sept. 30: 1974. S406.305. 67.5 cents a share: 1973. S361.9i7. 60.1 cents. Brunswick Mining and Smelling Corp. Ltd., nine months ended Sept. 30: 1974. 37.6 cents a share: 1973. 15 cents. Central and Nova Scolia Trust Co., nine months ended Sept. 30: 1974. 52 cents a share: 1973. 58.4 cents. Giant Yellowhnife Mines Ltd.. nine months ended Sept. 30: 1974. S2.482.000. 58 cents a share: 1973. S3.400.000 79 cents. Guaranty Trust Co.. nine months ended Sept. 30: 1974. 12 cents a share: 1973. S3.135.000. 70.5 cents. Indal Canada Ltd.. nine months ended Sept. 30: 1974. 55.100.000. S2.60 a share: 1973. S2.700.000. Interprovinciai Pipe Line Ltd.. nine months ended Sept. 30: 1974 S27.927.000. 3 share: 1973 S35.380.000. SI.38. Madeleine Mines Ltd., nine months ended Sept. 30: 1974. SI .513.000. 32.2 cents a share: 1973. S3.053.000. 64.9 cents. N'oma Industries Ltd.. nine months ended Sept. 30: 1974. SI.184.160. SI.16a share: 1973. S'20.263.71 cents. Nordair Ltd.. nine months ended Sept. 30: 1974. 55 cents a share: 1973. S2.098.000. 96 cents. Ontario Trust, nine months ended Sept. 30: 1974. S451.823. 30 cents a share: 1973. S574.257. 38 cents. Orchan Mines Ltd.. nine months ended Sept. 30: 1974. S3.948.000. 65 cents a share; 1973. S2.948.000. 49 cents. Placer Development Ltd.. nine months ended Sept. 30: 1974. S4fl.470.000. S3.ll 3 share: 197s' S47.17I.OOO. S3.07. Chicago markets CHICAGO