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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 13, 1973, Lethbridge, Alberta The Herald- Business Miscellaneous Montreal by McQiuig WESTERN OILS MINES Alton 8.30 Albany Oil A Oat .85 Almlnex 7.15 Atamera 1487V4 Aahland Oil Gas 1325 OM 7.40 BP Canada 14.25 Mines 8.30 Can South 5.70 Cdn Export Qaa 4 05 Cdn HoffiMtaad 8 00 Cdn Ind Gas Oil 9 62Vi Cdn Long Island Chlaftan 1225 Cdn Superior 56 75 Pete 38 25 Dynasty 11 25 Fort Reliance 23 Giant Mascot 2 87 Gibraltar 12.25 Granlste 9.25 Great Plains 29 75 Grt Cdn Oil 9 00 Lochiel Explor 3 00 Lytton Mm 1 40 Noble Mines 1.05 North Cdn Oils 7.00 Numac 1775 PanCdn Pete Pan Ocean 1700 Petrol 180 Pinnacle .22 Place Gas .60 Ponder 60 Ranger Oil 30 25 Scurry Ram 22 62Vz Seibens 1550 Spooner 40 Total Pete 7.10 Ulster Pete 1 36 United Canso 21 50 West Pete 6 00 West Decalta 7 so MISCELLANEOUS INDUSTRIES Acres Ltd 1275 Aqultame 25.37 BC Sugar A 14.6214 Block Bros 3 25 CdnPaclnvA Com Capital 2 90 Carting O'Keefe Carlmg O'Keefe 31 75 Crest Forest 10.00 Crowsnest Indus 28 00 Falcon Copper F M Trust 5 62V4 Genstar 1900 Global Com 45 00 Home Oil A Home OH B 48 75 Hudson Bay Co Hud Bay Oil 44.25 Hud Bay Oil A 55 25 Hugh Russell C 56 00 Husky Oil 2712V2 Husky OH B 42 Husky Oil D War Husky Oil E War 1287Vi Hys of Canada 4 00 Inter Prov Pipe 8 75 Inter Pr S P Kaiser 5 Loblaw 2 40 C 27 75 Magnasonlcs 7.75 Pacific Pete 33 50 Pac West Air Pe-Ben Oilfield Rainier Inc Royal Trust Sandwell Teledyne West Can Seed Westfieid Mm Weston A White a Yukon 900 7.12'xi 5.00 2725 5.75 4.30 5.25 128 5950 1025 PIPE LINE STOCKS Alia Gas Tr A 11 25 Alta Gas 67 75 Alia Nat Gas 19 25 Inland Nat Gas Gaz Metro 5 Gaz Metro A 67 50 N C Gas N C Gas B 23 25 Pac Gas Trans TransCan Pipe 33 Trans Can Pipe A 62 50 TransCan Pipe B 39 TransCan Pipe War 6 80 West Trans 18 00 West Trans Wts 3 25 CALGARY Acroll .65 Barons Oils .04 North Continent West Warner 30 VANCOUVER MINES Atlas Explor .35 Bath Norse .76 Dankoe 2.22 Davenport 42 Dolly Varden 20 Equitonal Res 15 Lornex 11 Primer .06 Pyramid .12 Silv Standard 1.12 Valley Copper 9.75 INDUSTRIALS Colum Brew 3 10 Key industries .15 Wardalr 1 60 OILS PRP Explor .94 Plains Pete 23 Ponder Explor 84 Stamp Intl Res 87 MUTUAL FUNDS All Cdn Com 7 12 7 74 All Cdn Dlv 7.55 8.21 All Cdn Ventures 3.81 4.14 Amer Grow F 5 40 5.93 AGF Spec 2 81 Cdn Invest F 5 22 5 72 Com Inter 1465 1610 Com Leverage 373 410 Com Venture 7 07 7 72 Corp Investors 6 54 7.19 Corp Invest S F 5 41 5 95 Dreyfus FUS 1130 1238 Grpd Income 3 53 3 89 Growth Equity 7 88 B 66 Mutual Accum 6 32 6 95 Mut Grow F 3 60 3.96 NW Cdn 5.78 6.36 NW Growth 4.90 5 38 Royfund 715 7 44 Temple Grow 8 09 8 86 Unit Accum 5 09 5 59 Unlver Sav 8 21 9 03 Vanguard 6 65 7 29 Toronto industrials by Akbardson Securities of 11 A.M. C Forest C Sugar Acme Advocate Valley Ind Cable Ind Bralorne Broulan Bethlehem 75 38 15.50 2 Brew Chemcell CDN Cellulose prunswlck Can NW Power Coron Credit Canada W N Gas Pld Indust Central Marconi Vickers Cons Com Cochenour Craigmont DickensOn Mines Denlson Mines 730 325 4750 Bathurst Cons Gas Dist Seagrams Dom Bridge Dome Discovery Mines East Textile Dom. Stores East Pete Mob Homes First Cdn Oil Sds Giant Y Motors Lakes Pap Holllnger Hudson Bay 27 Lines Hawker Sid Hydra Ex. Iron Walker Huron and Erie Iso Johet 11 Oil Kerr Key Nickel Pipe Lake Group A Langis Internal Madsen Accept Malartic G Martin Doug A A Intern Mogul Nu West Homes New Athona New Calumet 9 12 28 Stores Massey Ferg McMillan Bloe Moore Corp. Northgate A Molsons B Pine Placer and Cent Pax Corp Quebec Co mans CDA Rio Algom Roman Corp Sherritt Gordon Steep Rock rexmont United Canso Western Mines ft. House Copper Mines Wright Hargreavws 12 87 16.37V4 1.92 24 21 75 3.25 300 .90 Simp Sears Steel of Can Selkirk A Texaco Trad Group A Trans Mtn Pipe Union Carb. Union GGS Oil rrtlowknlle Siscoe Mlg ton's A klgoma Cdn Sd Mco Else kgra Imperial Ml Irulllan Scotia 3. C 2300 1875 3325 470 600 6 2375 225 1025 18.75 365 1650 1575 36 62Va 2750 17.50 24 3800 24 5 1400 3825 29.75 8.75 5775 2475 5 37 5475 3075 43 3000 33 2375 925 17 87V4 5 12Vi 10 B7Vi 455 525 13 22 3600 5475 24.25 2425 11 12V4 1600 1600 850 11 3125 1662V4 50.75 17.25 3350 1825 10 12VS 16 12V4 6.25 7.00 1875 2075 2250 525 320 30.00 19 62V4 3850 3750 3675 New York by Richardson Securities of TtT Mn. StMl Jomwrt Jupont Jutt nt. HarvMMf Copper Montgomery Quit Ce Vlx Corporation woolwonh 20.00 2500 WMtlnghouM Elec. 31.00 32.00 US 338714 Gen Tel. Elec 46.82V4 TORONTO AVERAGES 169.00 20 2 46 down 224 32 57.75 20 Golds 1 11 down 304.18 23 12tt 10 Bate Metals 1.70 down 103 25 is Western Oils 4.09 down 26803 37.25 Volume 21.75 NEW YORK AVERAGES M.02Vt 20 13 16 down 684 48 92.37'A 20 Rails 2 51 down 17885 28.87V4 IS Utilities 81 down 93 74 65 Stocks 3 80 down 2' 1 38 I4.37vt volume Sharp decline recorded at mid-session on TSE NovcmlMr 1t7l-THt LETHSRIDQC HilULD-11 TORONTO All sectors of the Toronto stock market declined sharply in moderate mid-morning trading today. The industrial considered the major indicator of market fell 1 68 to golds 113 to base metals 1 20 to 103 7S and western oils 221 to 269 91. Volume by 11 a.m was shares compared with it the same time Monday. Declines outnumbered advances 246 to 77 with 192 issues unchanged Paper and merchandising and construction and material stocks were among sectors of the market recording the largest de- clines Utility issues were higher. Faiconbndge Nickel fell 1 to Texasgulf to Inco to Alcan to and Massey-Ferguson Vi to Imperial Oil was off Vi to BP Canada to Bell Canada to and Dome Pete to Sherritt Gordon lost to Brenda Mines 15 cents to 35 and Dynasty Vz to Vi Francana slipped V4 tO H1V4 MacMillah Bloedel rose Vi to Gulf Canada Vi to and Husky to Northgate Exploration climbed 10 cents to 85 and Pamour 10 cents to 65 VANCOUVER Prices were down Monday in light trading at the Vancouver stock exchange Volume to 12-30 p m when the exchange closed early because of Remembrance Day. was shares In the Rand Resources was down 10 at on 6.100 shares Stampede was down 01 at 87 on shares Seneca development was down 04 at 08 on shares Concept Resources was up 10 at 75 on shares Galveston was down 05 at 35 and Sunlight was unchanged at Leading the industrials was Captain up 10 at 20 on shares Speculators Fund was down 03 at on Coronation Credit preferred was unchanged at 55 on a turnover of f.OOO Westcoast Transmission was at 75 and Cornat Industries was at In the Gold River was up 05 at 96 on shares. Cutlass was up 03 at on shares Silver Standard was down 05 at 17 on 900 shares Barrier Reef was down 05 at 95 on Danko Mines was down 04 at 31 on 6 200 shares Brown- Overton was unchanged at 28 and Rackla River was down 07 at 61 Winnipeg grain WINNIPEG Thunder Bay rapeseed prices weakened while other commodity prices remain- ed strong in moderate trading at mid session today on the Winnipeg Com modity Exchange Flax was up as much as 35 and rye and barley also posted healthy gams Vancouver rapeseed advanced about six as Thunder Bay rapeseed dropped as much as four Oats was mixed Friday's volume of trade was 000 bushels of of f of rye of oats and 188 000 of barley Mid-session prices Flax Nov 21 higher 9 Dec 25 higher 9 May 35 higher 8 July 17 higher 8 74B Rapeseed Vancouver Nov 6 higher b Jan 5 higher 5 March 5 higher 5 June 7 higher 4 98A Rapeseed Thunder Bay Nov lower 4 Dec 1 lower 4 May 4 lower 4 July unchanged 4 66A Oats Dec higher 1 May 2 lower 1 July not open Barley Dec 9 higher 2 May higher 2 July not open Rye Dec 12'A higher 2 May 12'A higher 2 July 8 higher 2 44B Currencies MONTREAL s mid- day foreign exchange nominal selling rates supplied by the Bank of Montreal Australia dollar 1 4950 China renmmbi 5220 France franc financial 2290 Germany mark 3950 Italy lira commercial 001740 Japan yen 003675 Mexico peso 0810 Netherlands guilder 3850 South Africa rand 1 51 Spam peseta 01775 Switzerland franc 3245 United States dollar 1 0005 United Kingdom pound 2 4250 USSR ruble 1 4098 Quotations in Canadian funds Dollar value MONTREAL -US dollar in terms of Canadian funds at noon Tues- day was up 4 25 at 00 1-25 Pound SL -''rig was down 43-50 at In New the Canadian dollar was down 4-25 at 99 24-25 Pound sterling was down at 39 3-20 Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted Cabot Corp 23 U S Dec record Nov 20 Oenison Miles Ltd 35 Dec record Nov 30 Dylex Ltd.. three Class A. three both payable Dec 5. record Nov 16 Hayes-Dana Ltd Class six Class B 5 1-10 both payable Dec 28. record Dec 19 M.E P.C Caaadian Properties six per cent pfd Series A. 37Vi Nov record Nov. 16 Power Corp. of Canada an increase of 214 Dec record Dec per cent pfd cents. Jan record Dec five per cent pfd 15 Feb record Jan 25 Rockwell International 45 U S Dec record Nov 21 Thornton Newspaper Ltd.. cents. per cent pfd series both payable Dec record Nov 23 Wijix Ltd Class A. 15 cents. Class both payable Jan record Jan 15 LONDON Closing metals bid-ask in pounds sterling a metric silver in pence a troy ounce futures 873- R74 Til-spot futures 2.26I .Lead-spot futures 19S- 200 futures 570-579 Silver-spot 3 months lift 5-1107 MONTREAL Prices were down in light trading on the Montreal stock market today Great Lakes Paper fell two to Hudson's Bay Oil and Gas IVi to Falcotibridge Nickel to Imperial Oil one to and Dome Petroleum one the market-value index dropped S3 at 102.81 at noon IBM moved against the up NEW YORK Stock prices continued to move lower ex- tending the losses of the last two sessions which analysts said resulted from energy fears. The Dow Jones average of 30 in- dustrials was of f 10 S3 at 887. 12 at noon Declines led advances more than two to one on the New York Stock Ex- change Trading was and the ticker tape lagged behind several times during the morning The NYSE composite index of about common stocks gave up 27 to 55 69 at noon On the American Stock Other glamors which moved higher included up 1 at and Bausch and Lomb. up at Penn Central was the NYSE volume up at followed by unchanged at National Steel was off at U S Industries was steady at and Sony Corp dropped 1H at Among Canadians on the New York exchange. International Nickel was down 74 to Massey-Ff rguson to Canadian Pacific Vt to and Alcan Vj to Mclntyre was ahead to and Dome Mines Vz to Hudson's Bay was unchanged at 129 On the American Scurry Rainbow lost Vi to and Preston advanced to Neonex was un- changed at Chicago markets CHICAGO Farm commodity futures prices were generally strong but other futures closed on generally uneven tones Corn futures advanced up to their limit of 10 cents a bushel on the board of trade Wheat and oats also were but meal and oil were mixed Limit gains were posted in live cattle and pork belly futures on the Mercan- tile while live hog futures gained up to 40 a hundredweight and shell eggs rose up to 100 points World sugar futures advanced The basis for strength of commodity futures was an agriculture department crop estimate issued after the close last Friday While the department as of Nov the corn and soybeans crops still would be of record the figures were a shade under the Oct 1 estimate The trade viewed them as expecting export business to continue strong The feed grain estimate also was slightly lower than last spring's although equalling the mi record production Corn and oats were strong throughout the day and corn futures became locked in at the top with 90 minutes of the session remaining Wheat futures reflected the strength in although early selling was traced to published material indicating world production of wheat might cause some lower prices meal and oil early showed good buyer largely on the government but some selling later developed as locals took profits The strong live cattle and pork belly closes reflected the moves in grains as well as improved cash prices Buyers of live hogs were attracted by the higher cattle and belly prices Shell eggs rose on good demand Grain quotations Monday Wheat Dec 4 Mar 4 May 3 Jul Sep 341 Corn Dec 2 Mar 2 52 May 2 Jul 2 Sep 2 Dec 2 Mar 2 32 Oats Dec 1 Mar 1 May 1 Jul 1 Sept 1 31 Open for business The largest Safeway store in Lethbridge stands completed after its opening last week. The store is located on the former Hull Block site and adjacent properties east of Gait Gardens. Bob Kemp has been named manager of the store which covers square feet and occupies the entire block between 2nd and 3rd Ave. between 7th and 8th St. S. Investors advised to buy loan stock issues TORONTO Shares of trust and loan companies have been out of favor with investors recently but one analyst says now is the time to buy the stocks in anticipation of a decline in interest rates. Bongard Leslie and Co. Ltd. says it expects a substantial decline in interest rates dur- Livestock Calgary CALGARY Receipts to 11 a m Tuesday from the Calgary public stockyards totalled mostly slaughter cattle Trade was uneven with a moderate demand Slaughter steers were Jl lower with sales to 90 Heifers sold to 50 lower Overfmished steers and heifers were sharply discounted Cows sold around 50 lower Bulls were steady Al A2 45 50 to 46 50 A3 43 50 to 45 A4 41 to 43 Al. A2 42 to43 A3 41 to42 A4 39 50 to 40 50 D2 31 50 to 33 D3 30 to 31 50 D4 28 to 30 Bulls good 39 to 42 There were insufficient replacement cattle or stock calves on offer to es- tablish quotations Hogs f o b to 11 a m 54 35 to 55 15 Preliminary slaughter figures tor week ended Nov 10 Alberta hogs beef Canada hogs 184.600 beef 66 129 Hog prices EDMONTON Average prices to 11 a m Tuesday provided by the Alberta Hog Producers Marketing Board with Monday average in brackets Edmonton 54 Red Deer 54 Calgary Lethbridge ml. Uoydmimster Grande Prairie Fail-view Total hogs sold average 55 85 U.S. assured of Canadian oil shipments By THE CANADIAN PRESS BP Canada nine months ended Sept 30 a share 1972 70 cents Bralorne Resources nine months ended Sept 30 1973 12 7 cents a 18 4 cents CAE Industries .six months ended Sept 30 60 cents a share cents Canadian Superior Oil nine months ended Sept 30 85 cents a 58 cents Combined Engineered Products year ended Aug 31 57 cents a cents Dale-Ross nine months ended Sept 30 59 7 cents a 41 8 cents Federal Diversiplex 24 weeks ended Sept 15 four cents a eight cents Grafton Group nine months ended Oct 31 cents a 78 cents Greyhound Lines of Canada nine months ended Sept 30 29 a 19 Douglas and Co. 36 weeks ended Sept 8 35 cents a 70 cents Laidlaw Transportation Ltd. year ended Aug. 31 864 cents a 647 cents TORONTO Oil sur- plus to Canadian needs will still be exported and Canada will not stop oil shipments to the United States to appease Arab External Affairs Minister Mitchell Sharp said Monday. In an interview following a Canadian Club Mr. Sharp said he told George lormer un- dersecretary of he could be reassured that Canada would not appease the Arabs by cutting off southbound shipments. There has been no cabinet decision to freeze con- signments refined at Come- Nfld. and pre-sold to the eastern Mr. Sharp said In a speech at the Mr. Ball warned that if Canada halted exports to his the U.S. might cut off Canadian supplies flowing through its territory. He said if Canada had a sur- plus while people in the U.S went cold this winter there might be a foolish act of retaliation as to shut the Port- terminal of the pipeline that supplies Montreal with crude Banking done by candlelight Mass. Banking is done by candlelight at the Warren Savings Bank these days. In an effort to cut down on energy candles are placed on either side of the tellers' windows and on some desks on Thursday evenings when it begins to get dark. The candles will let the bank eliminate about half of its electric President Warren Hastings said. ing the next six months. wider spread between borrowing expense and lend- ing revenue is likely to and thus reverse the current squeeze on profit margins and give renewed growth to earn- ings and share there has been a sizeable spread between short-and long-term interest rates. competition for funds has become intense. High in-' terest rates in foreign money markets have stimulated the outflow of funds. The Bank of Canada monetary policy was tightened in mid-1972 and chartered bank liquidity sub- sequently dropped to record lows. Short-term rates have mov- ed narrowing the gap Bongard Leslie says moder- ation in business activity and a move by corporations to fund some short-term bank borrowing should relieve this upward pressure. Long-term which are influenced more by in- flationary expectations than by demand-supply considera- also should but to a lesser the in- vestment firm says Liability mix in the trust company industry is favor- able as short-term deposits represent a small element of liabilities. In the first quarter of 1973 only 12 per cent of the liabil- ity side of the industry's bal- ance sheet was short-term. This figure probably has in- creased as some companies have moved aggressively in the last few months to ac- quire short-term funds. A train with 40 engines and freight cars. A freight car is useless if it isn't going somewhere. And to get it it takes people. People like locomotive engineer Al Fuller. Al typifies the new thinking at CP Rail. Thinking that has given us an almost improve- ment in on-time perfor- mance on certain key trains. We improved this service through better planning and utilization of equipment. We added new pieces of rolling stock last an'd re-designed and modified another Then we bought 40 new freight locomotives at ap- proximately each. And spent on ties. This kind of commitment is part of the spirit at CP RaiK We believe good freight service is really a question of good people. Whether they're fore- casting buying new or ensuring another on-time arrival. At CP Rail we believe freight is people- like Al Fuller. And we want to keep the spirit that has made us the world's largest investor- owned transportation system. We're committed. Call your District Trev Jones at 328-3373 and see. of tmwttrs caH Zenrth CP Rail I I I ;