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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 6, 1973, Lethbridge, Alberta 22-THE LETHMIOOB HlftALD Novwnbw Our Oil Came Half of Canadian Production Barrels United States Barre th America 90.406.472 Barrels TSE steel stocks up bank issues down PWA to increase fare rates effective Dec. 1 VANCOUVER Pacific Western Ltd. announced Monday ill im- plement fare increases effec- tive Dec. 1. In a news company president Donald Watson said has become however that we must turn finally to fare adjustments if we are to maintain an up-to- fully service-oriented EXPLAINS MOVE The company stated increases were a result of a need for more aircraft to provide better increased frequency of dramatically increasing fuel security increas- ing aircraft acquisition costs and labor costs. Snow brings halt to threshing in northern areas CALGARY Snow over most of the province means that crops remaining to be threshed in northern Alberta and the Peace River country will probably stay in the fields until the Alberta Wheat Pool said Mon- day. Collier gets top GM post Ont. General Motors of Canada Ltd. announced Monday the election of David C. Collier as chief executive of- ficer and general manager. Mr. a 44-year-old native of pre- viously was treasurer of the parent General Motors Corp. He succeeds John D. who becomes general manager of GM's Oldsmobile division at Mich. Mr. Baker had headed GM Canada since 1971. Mr. a member of GM's financial staff since was elected treasurer in 1971. .Born Oct. he at- tended high school at Red and received a teaching certificate from the University of Alberta in 1948. He taught in Alberta and later worked for the Investors Syn- dicate of Canada in Edmon- ton. Mr. Collier was promoted to general assistant treasurer in charge of the GM treasurer's office activities in New York in 1970 and was in that post when he was elected treasurer. The pool said in its final weekly crop report of the year that harvesting could only oc- cur if the snow melted and the ground remained firm enough to bear the weight of machinery. 99 per cent of 90 per cent of 87 per cent of wheat and 86 per cent of oats and 84 per cent of barley- have been threshed. About 17 million bushels of wheat and 29 million bushels of barley are unthreshed. The grain harvest has yield- ed 112.2 million bushels of 82.5 million 166.3 million 2.4 million 4.8 million rye and 18.9 rapeseed. Unharvested crops per cent of the wheat and 30 per cent of the barley in the Edmonton per cent of the wheat and 40 per cent of the barley in St. per cent of the wheat and 45 per cerit-of the barley in the Barrhead-Athabasca per cent of the wheat and 83 per cent of the barley in the Peace River area. U.S. dollar rise continues LONDON The threat of an oil crisis in West- ern Europe continued to push up the value of the United States dollar on European for- eign exchange markets today. The U.S. currency rose to 2.4920 West German marks compared with a closing rate Monday night of 2.4770 marks. The dollar also moved up against the Swiss the Dutch the French and other West Euro- pean currencies. The company said represen- tative fare increases are from Port B.C. to Campbell B.C. and from Port Hardy to Van- couver. The fare from- Port Hardy to Campbell River now is while the fare from Port Hardy to Vancouver is The company also said representative fare increases from Grand B.C. to B.C. and Vancouver are in each case. The fare from Grand Forks to Castlegar now is to Penticton and to Van- couver With the increase the fare from Calgary to Castlegar will be up from and from Calgary to Edmonton in- dustrial up from The fare from Calgary to Edmonton International will be increased to from snow tires supply short VANCOUVER An- snow tires and logs made of compressed sawdust will all be in short supply this winter in com- pany spokesmen said Monday. Union Carbide and two of the big anti-freeze suppliers in the said they have been sold out for the past month and the only available stocks are on retailers' shelves. is a serious shortage of ethylene brought about by the energy a spokesman for one of the com- panies said. only alternative when supplies run out is to drain the or bundle it up with blankets and A tire distributor said the situation is even more serious for snow tires for imported compact cars. of these cars call for radial tires and there are just none available. All new radials are going for new car He said there is also a shor- tage of radial snow tires for some domestic cars and of other snow tires. A spokesman for the presto- log division of MacMillan Bloedel estimated the supply of presto-logs will run out dur- ing the first week of December. He said the demand for presto-logs and other similar products is running at more than twice the rate of produc- tion. TORONTO Prices on the Toronto stock market were mixed in moderate mid- morning trading today. The ered the major indicator of market was off .02 to 231.55. Golds rose .62 to 297.90 and western oils 5.90 to 272.89. Base metals were unchanged at 108.10. Volume by 11 a.m. was 000 sharescomparedwith 000 at the same time Monday. Declines outnumbered ad- vances 163 to 131 with 190 issues unchanged. Oil chemical and steel stocks were among sectors of the market recording gains while paper and food construction and material and bank issues were lower. Bow Valley rose to Imperial Oil to Na- Churs to Canadian Tire A Vz to and Nu-West Development to Noranda A fell to Westeel Rosco to Imasco W to and Aquitaine Vfe to Gibraltar Mines was up Vs to Craigmont five cents to and Canada Tungsten five cents to Roman Corp. lost V4 to and Rio Algom to Ranger Oil gained 2 to Asamera to and Peyto 60 cents to MONTREAL Prices were mixed in light trading on the Montreal stock market to- day. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 200 compared with shares at the same time Monday. The industrial index rose .92 to banks .76 to and the composite .67 to 240.86 while papers dropped 3.01 to 148.12 and utilities .18 to 146.29. On the Montreal Stock Ex- Pacific Petroleums rose to Provigo Jnc. V4 to Gulf Oil Canada to while Dofasco fell Vz to Vz and Consolidated Bathurst to On the Canadian Stock Ex- Mount Jamie Mines fell one cent' to 25 cents on a volume of shares. NEVlLYpRIt Stock market'prices were higher to- day in bargain-hunting after six days of dramatic losses. But analysts said they believ- ed the rally would be short- lived. At noon the Dow Jones aver- age of 30 industrials was up 6.02 at but it had been Dollar value MONTREAL U.S. dollar in terms of Canadian funds at noon Tuesday was up 1-10 at Pound ster- ling was down 43-100 at 10. In New markets were closed due to mayoralty elec- tions. Gold futures WINNIPEG Gold U.S. Winnipeg Commodity Exchange close Monday. Jan Apr Jly Oct 108.70A. Friday's 34 contracts. Beef futures WINNIPEG beef-futures close Monday. Nov Jan Mar May 52.75B. Friday's 43' contracts. People love us for number of reasons. Here's just one. Zenith 6-6O14 Call toll-free for reservations from anywhere in Alberta. Downtown Calgary. 9th Ave. 1st next to the Calgary Tower. THE CPMotefeB up mart than 10 points ifo blue-chip indicator lost more than 65 points in the fix previous sessions. Advancing New York Stock Exchange issues held a 743-to- 444 lead over declines in moderate volume. The broad-based NYSE of about common stocks was up .24 at 56196. On the American Stock Ex- the market-value index was up 1.12 at 10S.23. Among Canadians on the New York Alcan was-up ft to Mclntyre tt to Dome Alines to Canadian Pacific up tt to and Massey-Ferguson Vk to International Nickel was down V4 to Hudson's Bay Vt to and Genstar Vt to Seagrams was unchanged at On the American Stock Ex- Scurry Rainbow was up to VANCOUVER Prices were down Monday in light trading on the Vancouver stock exchange. Volume was shares. On the industrials Speculators Fund was down .09 at on shares. Mercuria was down ..02 at .58 on Tokar was down .05 at on Thermo Plex was down .05 at on Great Pacific In- dustries traded at and Block Brothers was down .10 at Most active issue in the mines was down .01 at .37 on shares. Gold River was up .07 at on Brandon was down '.04 at .31 on Cutlass was down .05 at on Silver Standard was down .15 at and Taseko was. up .02 at .20. In the Galveston fell .09 to on shares. Rose Pass was up half a cent at .40 Vz on Vargas was down .01 Vi at .13 on Whistler fell .06 to .28 on Williams Creek gold was up .01 at .22 on and Chapparal was down .01 at .10. Chicago markets CHICAGp Nearby wheat options advanced 20 cents a the limit for one on the Board Trade Monday. Soybeans fell back at the close under but three nearby wheat tions remained strong. The late accom- panied by in- fluenced rallies in soybean oil and meal. Before the late buying had gotten under prices were generally weak. At the wheat was up six to 20 cents a December corn was nearly three cents December oats were up around four December 1.21 and soybeans were November 5.37. Grain quotations Dec Mar May Jul Sep 3.58. Dec May Jul Sep Dec Mar Dec Mar May Jul Sep 1.29 Vi. Commodity futures general- ly improved Monday on major despite the presence of some nominally unfavorable fundamentals. Pork belly futures posted limit gains on the mercantile exchange and live hog and live cattle futures also but some late profit-taking gains in shell egg futures. Farm commodity futures on the board of trade were very weak on the opening. During the an authoritative private crop report estimated that as of Nov. 1 soybean and corn production this year would set records. The figures used were a shade higher than last month's and were con- sidered bearish on futures. There were rather liberal marketings of cattle and but these futures were attrac- tive to buyers on the mercan- tile but higher prices for bacon lured pork belly traders. Higher meat prices and wholesale egg prices influenced demand for shell egg futures. Winnipeg grain WINNIPEG Van- couver rapeseed traded moderately today at mid- session on the Winnipeg Com- modity Exchange as reluctant sellers forced prices slightly higher. Thunder Bay rapeseed was still not open despite active bidding. Flax turned .slightly downward following a firm oats and barley gain- ed somewhat on domestic shipper business and rye fluc- tuated fractionally across the board. Monday's volume of trade was bushels of of of of oats and 000 of barley. MID-SESSION Nov. 1 lower Dec. V4 lower May 1 lower July 4 lower 8.99A. Rapeseed Nov. Vz lower Jan. higher March Vk higher June 1 higher 4.95B. Rapeseed Thunder Nov. unchanged Dec. unchanged May un- changed July 5 higher 4.65B. Dec. not May higher July 2 higher 1.35B. Dec. higher May unchanged July not open. Dec. unchanged May higher July 1 lower 2.42B. Grain quotes Monday basis High Low Close Flax Nov 976 938 876 Dec 960 830 957 May 890 911 Jly 903 751 903 Rapeseed Vancouver Nov 515 513 Jan 503 Vz Mar 506Vz 487Vz SOlVfc Jun 494 483 494 Rapeseed Thunder Bay Nov. 466 466 Dec 464 May 471 Jly 460 Oats Dec 160V4 159V4 160 May 154V4 Jly 133 May 232 225 232 Jly 220 Rye Dec 238V2 233 242 May 251 235 Gold prices LONDON Closing gold prices in U.S. dollars an London-98.00 Paris-102.29 Frankfurt-98.37 Zurich-98.50 Hong Kong-100 93 Beirut-3178 a kilo. Livestock Calgary CALGARY Receipts to 11 a.m. Tuesday from the Calgary public stockyards totalled about 500 mostly slaughter steers in the 3 and '4 grades and cows. Trade was active. Slaughter steers sold higher for kind. Heifers sold around higher. Cows were mostly in the lower grades selling higher. A few bulls sold steady. Steers Al and I A3 A4 41-43. Heifers Al and 2 A3 42- A4 39-41. Cowi Dl and 1 D3 D4 27- 30.90. Good bulb 3841.70. Replacement cattle were mostly short-keep fleshy steers more than 800 pounds selling at steady prices. Good stock calves were scarce telling steady. Good feeder steers more than 790 pounds Good stock steer calves more than 400 pounds 90-97.79. Hofs fob Calgary to 11 a.m. aversfe bate price 11.11. Tlie Herald- Business Good stock calves were scarce steady. Good feeder steers more than 750 pounds 44-46.60. Good stock steer calves more than 400 pounds 50-57.75. Hog prices EDMONTON Average prices to 11 a.m. Tuesday provided by the Alberta Hog Producers Marketing Board with Mon- day's average in Red 53.20 53 15. Grande Total hogs sold to 11 sold Monday average 53.72. Sows average 40.50. Dividends Canto Safeway 4.40 per cent Jan. record 1973. Caaatflaa Westera Natwal Gat Co. four- percent 20 5Vi- per-cent 27 both payable Dec. record Nov. 15. Stocks Toronto industrials by Richardson Securities of '11 A.M. Tel Advocate Sugar Valtoy Ind Ind Brew Can. NW Cellulose Canada Tung. Power Credit Central Gas Indus Marconi Cons. Vickers Coin Craigmont Dlckenson Bathurst Denlson Gas Seagrams Dome Bridge Discovery East Textile East Stores First Mobile Giant Cdn Oil Motors Lakes Paper Hudson Bay Oil Cda Hydra Iron Sid Walker Joliet Erie Kerr Oil Key Nickel Lake Pipe Langis Grp A Madsen Internal Malartic Accept Martin Doug A Intern A Nu West New Ferg New Bloed Corp A B Pine Placer Cent Pax Corp Quebec Co CDA Rio Roman Sears Sherntt Canada Steep A Tek Grp A United Mtn Pipe Western Can Pipe W. House Copper Carbide Wright Gas Oil Siscoe Yellowknlle Mfg 11 A.M. A Cdn Seed Elec Algoma Atco Imperial Jan Agra Scotia Bell Brazilian 93.00 16.50 23.75 35.00 17.00 9.75 4.15 6.50 7.87'A 23.50 1.75 10.50 19.00 3.75 21.75 37.12V4 30.50 .22 43.75 38.75 24.75 10.25 14.50 40.00 31.00 9.00 8.90 61.25 25.00 33.00 17.00 5.75 55.75 31.25 44.25 30.25 36.75 24.00 17.75 5.50 11.00 4.90 13.62V4 23.62V4 57.00 25.37V4 25.00 12.50 10.87 VI 13.00 15.25 19.00 9.00 '12.75 16.50 52.00 17.50 32.75 18 10.50 6.40 7.75 20.00 20.75 3.20 3925 37.50 Miscellaneous Montreal by McQuaig 11 A.M. WESTERN AND Afton Albany Cdn A Alta East LINE BP Gas Brends Gas Can Nat Cdn Ex Nat Cdn Cdn Ind Gas Metro Cdn Long and C and C B Cdn Dome Can Can A Fort Can B Giant Can Gibraltar Trans Gt Gt Cdn Oil Lochiel Lytton Noble North Cdn Pancdn Pan Place Scurry Spooner Total Ulster United West W Acres Intl BC Sugar Cdn 7.90 Block Cdn 8.38 Cdn Pac Inv A Cdn 4.23 Com Cap Grow 6.03 Cdn Brew A Cdn Brew B Invest 5.82 Crestbrook 5.52 Crowsneat 16.25 Falcon 4.15 F and M 7.92 7.24 Global Com In S 6.03 Home Fund 1259 5.46 Hud Bay 4.00 Hud Bay W 8.87 Hud Bay A Grow 14.04 Hugh 6.67 Husky 7.05 Husky B Grow 4.12 Husky D 32 5.85 Husky E 6.53 of 5.64 Inter Prov 5.52 inter Prov 8.74 Kuter 7.49 LoWew C S 12 C.71 Pacific 9.09 Pac West 7.13 Pe-Ben 7.36 New York by Richardson Securities of Amr. TAT WooNmrth Anaconda Westlngnouta Etoc. 31.29 Betn. Steel U.S. Steel 3S.2S Chrytttr Gen. Tel Elee. 28.50 ComMt TORONTO AVERAGES Dupont 20 Industrials 230.03 down 1.54 General Motors 61.50 20 Golds 293.27 down 4.10 Gulf 10 Bate Meials 107.45 down .65 Int. HarvMMr 31.75 15 WMMrn Oils 271.49 up 4.50 Kenn. Copper Volume Montgomery Ward NEW YORK AVERAGES Sears 92.50 20 Industrials 923.01 up 3.69 Exxon 20 175.52 down 1.19 TMW Ouff 15 Uttllttet 97.SS down .22 CO. AS Stocks 262.13 up .16 Wlx Corporation Volume ;