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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 14, 1973, Lethbridge, Alberta Gold stocks other issues up TORONTO Golds declined sharply but other sectors of the Toronto slock market were higher in moderate midmornlng trading today. The gold index was off 12.4 points to 292.23. The industrial considered the major indicator of market rose. to 225.47.'base metals .74 to 103 and western oils 4.13 to 271.30. Volume by 11 a.m. was shares compared with at the same time Tuesday. 4 s Advances outnumbered declines 185 to 130 with 198 issues unchanged. Paper and real es- tate and -steel stocks were among sec- tors of the market recording the ga'ins .while .communication issues_were lower. Among golds. Sigma was off to Camflo 83 cents to 17.80. Pamour 40 cents to and Madsen Red Lake 15 cents to In industrials. Westcoast Transmis- sion rose to Westcoast Pete to Budd Automotive -Ya to Westeel Hosco to and BP Can- Mindamar Energy was u'p 25 cents to and .Canada Tungsten 15 cents to Great Canadian Oil Sands gained 70 cents to and Pan Ocean to MICC Investments fell '4 to and Cadillac to MONTREAL All sectors rose in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 ajn. was 336.700 shares. Pap'ers rose two to in- dustrials 1.50 to 254.56. the composite to 235'.59. utilities .92 to 144.37 and banfo. .52 to 281.2.' the Montreal Stock Exchange. Kalconbridge Nickel rose three to Dome Petroleum one to Mercan- tile Bank Canada fi- to MacMillan Bloedel to and Moore Corp. 'i to On the Canadian Stock Kingswood Explorations Ltd rose cents to V'i cents on 34.000 shares traded. VANCOUVEft Prim were down Tuwdiy in light trading on the Vancouver flock exchange. Volume waj shares. On the Mercuria was unchanged at .SS on a turnover of 1J.SOO shares. Thernw traded at tl on shares. Kaiser Resources was. up at 15.50 on shares. Speculators fund was down .01 at on shares. Computrex was un- changed at .45 and Hobrough traded at V Most active issue in the mines was Gold up .Of at on shares. Rackla River was down .09 at .52 on shares. United Chieftain was up .03 at .70 on 'shares. Silver Standard was down .07 to on shares. Green Eagle was up .01 Vi at .21 and Cutlass was up .05 at In toe Concept Resources was up .30 at on shares. Chap- paral was up .01 at .11 on shares. PRP Explorations was down .03 at .92 on shares. Seneca Developments was down .07 at on shares. Whistler fell .02 to .30 and Plains Petroleum was unchanged at .24. NEW YORK The stock market tried today to find footing in Tuesday's late rally but fell back. The Dow Jones average of 30 in- dustrials was ahead three points near the opening. But the blue-chip in- dicator slipped again and was down 13.40 at 877.63 at noon. Declines over- look advances on the New York Stock Exchange. Trading was and the ticket tape frequently lagged behind in morning activity. The broad-based NYSE composite index 'of about common stocks was off .52 at 55.29 at noon. Among Canadians on the New York Exchange. Dome Mines fell to Mclntyre to Inter- national Nickel to Bay V2 to Vi. Hiram Walker Vi to Alcan Vj to and Massey-Fer- guson to Seagrams was up LIJ to and Canadian Pacific to On the American exchange. Scurry Rainbow gained Chicago markets CHICAGO -Farm commodity futures were strong Tuesday on the board of but most other com- modity futures were weak. corn and soybeans futures prices were strong at the end of the board of trade but soybean oil and oats prices were general- ly irregular. Pork belly futures fell their limit of 150 points on the Mercantile while live hogs lost as much as a hundredweight and shell eggs closed on a mixed tone. Live cattle ended up as much as higher. World sugar futures were irregular. The buying drive that gripped farm commodities Monday on the Board of Trade showed little easing on the opening. Prices were strong and within minutes after the first bell the nearby December corn option hit the limit of 10 cents a bushel. prices moved in a range of about 5 although distant options were lower. Oats prices also were higher in lighter trade. Last Friday's United States agriculture department crop report still maintained a strong influence on futures. reflected the strength in corn while meal and oil attracted buyers in the belief that some tighten- ing of stocks might along with corn and oats next year. Higher grain prices influenced buy- ing of cattle futures along with a reduced cattle slaughter Monday. Profit taking were major factors in the selloff in live hog. pork belly and shell eggs. Grain quotations Dec Mar May Jul Sep 3.43. Dec Mar May Jul Sep Dec Mar 2.35. Dec Mar May Jul Sep 1.31. Livestock Lethbridge SUPPLIED BY CANADA DEPARTMENT OF AGRICULTURE On offer to a.m. 325 cattle. practically all slaughter cattle. Trade active. Slaughter steers or more higher as compared with last weeks close. Slaughter heifers generally steady. Cows or more lower. Very few replacement cattle. Offer sold or more lower. Al and A2 2 45 to 46 A3 43 to 44 A4 42 to 43. Al and A2 4114 to 42.90 A3 40 to 41 A4 38 to 39. Dl and D2 32 lo 33 D3 30 to 31 canners and cutters D4 26'A to 38 lo Good heavy feeder steers over 750 Ibs. 43 lo 44Vj. Good stock steers 49 to Butcher hogs sold Tuesday at the Lethbridge yards 57.45 to 58.15 base price. Good lambs 34Ms to 36. Hog prices Average prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board with Tuesday's average in 52.70 Red Deer. 52.70 Calgary. 52.65 Nil Fort Nil Grande 52.85 Nil Total hogs sold to II a.m. sold Tuesday S.953. average 57.44. Sows average 40.05. Beef futures WINNIPEG Live beef futures close Tuesday. Nov Jan May 53.00A. Friday's 10 contracts. Gold prices LONDON Today's closing gold prices in U.S. dollars an London-90.00 Paris-94.34 Frankfurt-91 48 Zurich-9092 Hong Kong-93.28 Bcirut-2.953 a kilo Calgary CALGARY Receipts to 11 a.m. Wednesday from the Calgary public stockyards totalled 2.400 mostly slaughter cattle. Trade was dull on and moderately active on heifers and cows. Choice steers sold barely steady. grade steers were under pressure and very difficult to sell. Heifers sold steady for cows steady with good kinds scarce Bulls were steady. Al. 45 to 46.50. 42.50 to 44.50. A4 40 to 42. Al. 42 to 43.20. 40.50 to 42. 36 to 40. 31.50 to 32.50. 30 to 31. 27 to 30. 38 to 42. Replacement cattle were mostly shortkeep steers in the 800- pound range and up. and stock calves weighing 400 pounds and up. Prices were generally steady. Good feeder steers jnore than 800 44 to 50. Good stock steer calves more than 400 50 to 65. 300 to 400 51.60. Hogs fob to 11 52.65. Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Bay Mills first pfd.. series A. 66 cents. Dec. 14. record Nov. 30. Consumers Gas 22 cents. 5' per cent' pfd series per cent pfd..'series B. all payable Jan. record 7. General Products Manufacturing Corp. class A. last dividend paid January 1973. class B. last divi- dend paid January 1973. both payable Dec. 11. record Nov. 27. Noranda Mines class A. 40 an increase of five cents. Dec. 14. record Nov. 23. Northern Chemical and Wood pfd.. series A. 424 cents. Jan. 4. record Dec. 21. Robert Mont Corp. per cent series A. 5'4 per cent series B. i both payable Dec. 1. record Nov. 23. Earnings Bay Mills three months ended Oct. 1973. 34 cents a- 1972. nine cents. Calgary Power .nine months ended Sept. 1973. a 1972. 79 GUARANTEED SAVINGS CERTIFICATES Interest Payable Annually or Compounded to Maturity MEMBER CANADA DEPOSIT INSURANCE CORPORATION FMMBBI MERCHANTS TOST 3M 7th it. PhOMttt-SMt Herald- Business Stocks Miscellaneous Montreal by McQiuig 11 A.M. QUOTES WESTERN OILS AND MINES Mines 8.25 Albany Oil .87 Alminex 7.05 Asamera Ashland 13.50 Alta East Gas 7.70 feP Canada 14.50 Brenda Mines 8.25 Can South 5.65 Cdn Ex Gas 4.1 o Cdn Homestd 7.75 Cdn Ind Gas Oil 9.37VJ Cdn-Long Is .20 Chieftan 12.50 Cdn Super 57.00 Dome Pete 38.75 Dynasty 11.37V4 Fort Reliance .19 Giant Mascot 2.90 Gibraltar Mines 12.00 Granisle 9.25 Gt Plains 29.00 Gt Cdn Oil S 9.60 Lochiel Ex 2.97 Lytton Min 1.41 Noble Mines 1.10 North Cdn Oils 7.20 Numac Pancdn Pete 14.00 Pan Ocean 17.00 Petrol 1.80 Pinnacle .20 Place Gas .60 Ponder .60 Ranger 30.25 Scurry Rain 21.50 Seibens 15.25 Spooner .40 Total Pete ff.90 Ulster Pete 1.18 United Canso West Pete 6.50 West Decalta 7.45 MISCELLANEOUS. INDUSTRIES Acres Ltd 12.50 Aquitaine 26.00 BC Sugar Pfd Block Bros 3.15 Cdn Pac Inv Pld 33.25 Com Cap Corp 2.70 Carling O'Keefe A Pfd 26.50 Carling O'Keefe 31.75 Crestbrook Ind 10.00 Crowsnest Ind 28.00 Falcon Copper 13.50 F and M Trust Genstar Global Com Unit 45.00 Home A 52.50 Home B 48.00 Hud Bay Co Hud Bay Oil 44.25 Hud Bay A Pfd 55.25 Hugh Russell 55.50 Husky OH 27.25 Husky Oil B Husky D War 11.00 Husky E War Hys of Canada 4.00 Inter Prov Pipe 8.65 Inter Prov Steel 14.50 Kaiser Res Loblaw C Pfd 27.50 Magnasonics 7.50 Pacific Pete 34.00 Pac West Air 8.50 Oilfield Ser- 7.00 Rainier Inc Royal Trust Sandwell Tetedyne West Cdn Seed Westlield Min Weston A Pfd White Yukon 27.50 6.00 4.40 5.37 1.27 59.50 PIPE LINE STOCKS Alta Gas A 11.00 Alta Gas Pfd 68.00 Alta Nat Gas 19.25 Inland Nat Gas Gaz Metro Gaz Metro A Pfd 67.50 N and C Gas N and C B Pfd 23.50 Pacific Trans 11.00 Trans Can Pipe 34.00 Tr Can A Pld 62.87 Tr Can B Pfd 39.62V4 Tr Can War 6.80 WC Trans 18.25 WC Trans Wts 3.35 CALGARY Acroll .64 Barons Oils .04 Norm Continent .01 'A West Warn 32 VANCOUVER MINES Atlas Explor .34 Bath Norse .76 Dankoe 2.25 Davenport .35 Dolly Varden .22 Equitorial Res .15 Lornex 11.00 Primer .06 Pyramid .12 SHv Stand 1.05 Valley Copper 9.75 INDUSTRIALS Cblum Brew 3.00 Key Industries .15 OJLS PRP Explor .91 Plains Pete .24 Ponder Explor .84 Stam Intl Res .89 MUTUAL FUNDS All Cdn Com 7.06 7.67 All Cdn Div 7.48 8.13 All Cdn Ven 3.76 4.09 Amer Grow F 5.39 5.92 AGF Spec 2.80 Cdn.Invest F 5.69 Collec Mutual 5.82 6.39 Com Inter 14.25 15.66 Com Leverage 3.60 3.96 Com Venture 6.80 7.47 Corp Investors 6.48 7.12 Corp Invest S F 5.34 5.87 Dreyfus Fund US 11.20 12.34 Grt Pacific 4.89 5.34 Grpd Income 3.46 3.81 Grow Equity -7.75 8.52 Invest Grow F 12.61 13.71 Invest Mut 6.00 6.56 Mutual Accum 6.25 6.88 Mut Grow f 3.57 3.92 Nat Resources 5.11 5.62 NW Cdn 5.69 6.25 NW Growth 4.87 5.35 Principal Grow 4.76 5.23 Provident Mutual 7.88 8.62 Royfund 7.00 7.29 Temple Grow 7.90 8.86 Unit Accum 5.06 5.56 Univer Sav 8.10 8.91 Univesl 6.34 6.96 Vanguard 6.54 Toronto industrials by Richardson Securities of 11 A.M. Tel Forest Advocate Sugar Valley Ind Ind Brew Cellulose Can. NW Power Canada Credit Gas Ptd Central Industries Marconi Vickers Cons. Com Bath Oickenson Gas Denison Seagrams Bridge Dome Discovery Textile East Stores East Pete Mobile First Cdn Oil Giant Motors Gran Lakes Paper Oil Cda Hudson Bay Hydra Sid Iron Walker Erie Joiiet Oil Kerr Key Nickel Pipe Lake Group A Langis Internal Madsen Accept Malartic Martin Doug A A Intern Nu West Ferg New Bloed New Corp A B Pine Cent Placer Corp Pax Co Quebec CDA Rio Sears Roman Canada Sherritt A Steep Tek Group A Mm Pipe United Can Pipe Western Carbide W. House Copper Gas Wright Oil Siscoe Mlg Yellowknife A Cdn Seed Elec Algoma Atco imperial Agra Scotia Bell Brazilian Dom 53.75 16.00 22.50 33.50 9.50 4.60 6.00 6.75 23.00 2.20 10.25 18.75 3.65 16.50 27.75 42.75 9.50 39.00 30.00 9.50 9.25 57.00 24.50 33.25 17.50 5.25 54.25 30.00 44.00 23.50 9.25 17.75 5.75 5.12V4 4.55 5.25 13.25 36.50 55.50 24.00 23.75 11.00 12.75 16.50 16.00 20.00 11.00 31.50 16.50 50.00 17.00 16.00 34.00 6.35 6.75 18.75 21.00 22.37 Vi 3.20 30.00 36.75 37.50 37.00 New York by Richardson Securities of Amr. TAT 48.87 Vs Woolworth 20.25 Anaconda 25.00 Westinghouse Elec. Beth. Steel U.S. Steel Chrysler 19.00 Gen. Tel. Elec. 27.25 Comsat TORONTO AVERAGES Dupont 167.50 20 Industrials 222.10 down 2.32 General Motors 57.25 20 Golds 263.01 down 2.16 Gulf 23.00 10 Base Metals 102.02 down .88 Int. Harvester 28.00 15 Western Oils 266.72 down .45 Kenn. Copper 37.50 Volume Montgomery Ward 21.75 NEW YORK AVERAGES Sears 20 Industrials 877.93 down 13.09 Exxon 95.00 20 Rails 175.48 down 3.59 Texas Gull 15 Utilities 93.01 down .89 Texas Co. 65 Stocks 271.58 down 4.19 Wix Corporation Volume WINNIPEG Rye reversed early losses and continued to ad- vance in moderate trading al mid- session today on the Winnipeg modity Exchange. Rapeseed for delivery at both Van- .couver and Thunder Bay terminals remained -slightly off previous close levels. Oats and torley attracted little interest early in the session. Tuesday's volume of trade was 581.- 000 bushels c.r flax. MS.UOO of riipeseed. 747.000 of rye. 205.000 of barley and 35.- 000 of oats. MID-SESSION Nov. 18 higher Dec. 15 higher May M higher 9MB. July 3 higher 8.75B. Rapeseed 3Vi lower Jan. 4 lower March lower June 3 lower 4.SOB. Rapeseed Thunder Nov. lower Dec. lower May 2 lower July unchanged 4.66B. Dec. lower May and July not open. Dec. not May un- changed July not open. Dec. 3'A higher May 4 higher July unchanged 2.S1B. High Low Cloae Flax. Nov 954 9S1 Dec 92S 829 May 891 W4 TOO Jly 874 871 872 Rapeceed Vancouver Nov 516 514Vi Jan 515Wi 510 510 Mar SOS 905 Jun 493 Rapeseed Tkuader Bay Nov 457 448 Dec 460 450 452 Vi May' WM 471 Jly 466 Oats Dec 165 ISZVz 163 May 190 Jly 136 Barley Dec 246 244 246 May 240 236 240 Jly 220 Rye Dec 252 249 252 May 256 253 258 Jly 251 Currencies MONTREAL Wednesday's mid-day foreign exchange nominal selling rates supplied by the Bank of Australia dollar 1.4950 Prance franc financial .2260 Germany mark .3895 Italy lira commercial .001735 Japan yen.003660 Mexico peso .0810 South Africa rand 1.51 Spain peseta .01775 Switzerland franc .3200 United States dollar 1.0025 United Kingdom pound 2.42 U.S.S.R. ruble 1.4039 Quotations in Canadian funds. Dollar value MONTREAL U.S. dollar in terms of Canadian funds al noon Wednesdav was up 1-50 at 1-5. Pound sterling was unchanged at 4950. In New the Canadian dollar was down 1-50 at 45. Pound sterl- ing was down 1-20 at November THf LITHMID4I HtRALO-H Court over-rules jury support in big lawsuit VANCOUVER Mr. Justice Dryer of British Columbia Supreme after a two-day has over-ruled a supreme court jury .which in June supported Kennco Explorations in a lawsuit between Kennco and Sierra Empire Mines Ltd. Involved is a rich copper- ore mining tract on Omineca Price of gold dips sharply on world markets Metals LONDON Closing metals bid-ask in pounds sterling a metric silver in pence a troy futures 885- 886. futures 2.305. futures 206- 207. Zinc-Spot futures 619-620. 3 months 119.1-119.2. Gold futures WINNIPEG Gold U.S. Winnipeg Commodity Ex- change close Tuesday. Jan 74 Apr 74 Jly 74 Oct 74 Jan 75 109.00B. Friday's 16 contracts. LONDON The price of gold fell sharply on Euro1 pean markets today following the abandonment of the two-tier gold-marketing system. The huge drops were antici- pated as a result of the an- nouncement in Washington Tuesday that there no longer will be two gold an official one for and a free market for com- mercial users. In gold was quoted at U.S. an ounce in opening then slid further to a drop of 11 from Tuesday's free market close. Gold also tumbled in Frankfurt and Zurich. The prices compared with a record high of an ounce on the free set in Lon- don last June 5. Since then the free market price had steadily as the U.S. dollar strengthened. The official price of gold had been The U.S. which has been strong in recent remained firm in the wake of the gold announcement. The big drop in gold prices apparently resulted from feel- ings on the market that central banks soon will release gold supplies on to the market to take advantage of the higher commercial prices. Some dealers in London said they expect this to but other traders in Frankfurt feel the central banks probably will do more trading in gold between themselves without selling large quan- tities on the free market. BEAR SKULL HJU1NU ROME Excavators digging under the old Colosseum have unearthed the skull of a bear dating back to AO archeologists said Monday. The skull appeared to have been slashed by a gladiator. In archeologists discovered peach stones spectators are believed to have thrown in the arena centuries ago. In Frankfurt gold was quot- ed at to an ounce dur- ing the first hour's down from to at Tuesday's close. In Europe's other big gold the opening price was about com- pared with Tuesday. Candy price increases expected TORONTO Candy is but the price is likely going up. That's the view of Jim president of the Confectionery Association of who says the industry cannot continue to absorb in- creasing costs much longer. He says some increases may occur before the end of the although retail prices may take a bit longer. Mr. president of Hershey Chocolate of mentioned sharply increased costs for cocoa packaging and freight. One he may be the disappearance of the 10- cent chocolate bar. Plan Merger VANCOUVER Two Canadian firms involved in aerial survey and Hobrough Ltd. of Vancouver and Northway Survey Corp. Ltd. of announced Tuesday their intention to merge. An agreement of merger has been signed subject to the settlement of corporate matters and approval by all regulatory bodies having jur- isdiction. It is expected the merger will be completed by mid-December. mountain in northern un- der which some experts say lies as much as billion worth of ore. Mineral rights to the land are claimed by both Kennco and with the main point of dispute revolving around four central claims and 15 peripheral claims which comprise what is known as the Berg ore body. More than 500 claims have been staked in the entire area. Last June the jury held Kennco was correct in its claim that Sierra's stated location of claims it staked was wrong and ruled that Kennco had observed the obligations of the B.C. Mineral Act in staking and recording the claims. on the advice of restaked the area in 1972. The property was first staked in the 1920s by Cominco but its claims lapsed and the area was staked again in 1948 by Dr. William Pat- more. Kennco later staked its own claims and the location of Dr. Patmore's original stakes was a central issue in the June when the jury held that Kennco's argument on the location was the correct one. The jury's findings have been under review ever since by Mr. Justice Dryer of B.C. Supreme Court. On Oct. 11 and 12 he heard two days of argument by Larry Candido for and Arthur W. Johnson for Sierra. At the June trial Sierra ask- ed that the Judge refrain from entering judgment on the 15 claims surrounding the central although the jury had ruled that the claims were validly located and recorded. In his decision the judge said that it was a rare thing to overrule a jury but it was necessary upon occasion. He ruled that the jury could not reasonably have come to the conclusion that Kennco made a bona-fide attempt to comply with the provision of the Mineral Act in locating and recording the and that the evidence showed that the could not have been staked properly. Mr. Johnson moved to set aside the jury findings in respect of 13 of the 15 peripheral claims. Mr. Candido said Tuesday that Kennco is considering whether to appeal the judge's decision. The question of ownership may be settled in another part of the action scheduled to be heard in mid-January in which Sierra challenges the legality of the staking of the entire Berg ore alleging it was staked improperly and this resulted in what four claims was legal overstaking by Sierra in 1972. F DUSTBANE PRODUCTS REPRESENTATIVE DUSTBANE Manufacturers and Distributors of institut- ional and industrial maintenance equipment and supplies requires a technical representative to service Southern Alberta. Successful applicant will be locate'd in Lethbridge. Interested individuals must own a late model vehicle and be prepared to devote -considerable time and effort toward becoming fully competent technically in order to properly advise and service our customers in the region. This is a permanent position in a protected territory. PhMM reply In writing DUSTBANE PRODUCTS Ste. S.E. Alberta T20 1W5 RyAn All replies will be acknowledged and all will be treated confidentially. NOTICE DUSTBANE PRODUCTS This notice is to advise Dustbane customers in Southern Alberta that our Lethbridge will continue to be open Monday through Friday 9 a.m. to 12 noon 1 p.m. to p.m. tor customers wishing to pick up materials and or for customers wishing to place orders. THE ADDRESS 2530 5th 327-7293 T1H ON9 Also the will be retained and staffed following the ap- pointment of a representative In Lethbridge. For more technical data or advice regarding replacement maintenance procedures etc. customers may call our Calgary office collect at 243-2596. Home off the range. the next time you're heading for call our toll-free reservation number first. Zenith 6-6014. Then come on home to friends. Downtown Calgary. 9th Ave. 1st next to the Calgary Tower. CPffotefeG ;