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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 15, 1973, Lethbridge, Alberta i FIE bEinnmvuE nnkv nvvwiuwwi Toronto market prices lower in active trade TORONTO The Toronto stock market was moderately lower in active mid-morning trading today. The industrial considered the major indicator of market fell .29 to golds 1 45 to base metals 70 to 100.27 dnd western oils 91 to 264.16 Volume by 11 a m. was 1.11 million shares compared with at the same time Wednesday. Declines outnumbered advances 160 to 103 with 183 issues unchanged. construction and paper and forest and merchandising stocks were among sectors of the market to decline while pipeline and utility issues were higher. Massey-Perguson fell to Moore to National Trust to Graf ton Group to 129 and Cana- dian Tire A to Vj. Black Photo A rose to West- coast Transmission to Toronto Dominion Bank to Gulf Canada to and Imperial Oil to Placer Development dropped 1 to Sherntt Gordon 'j to dnd Falcortbndge Copper to Bethlehem rose to and Rio Algom to United Canso lost to Great Canadian Oil Sands increased 60 cents to and Pan Ocean to MONTREAL. Prices were generally mixed in light trading on the Montreal'stock market today. Combined volume on the Montreal and Canadian exchanges at 11 a.m. was compared with at the same time Wednesday. Industrials dropped 0.68 to 248.56. papers .50 to 138.21. and the composite .37 to 230.89 while banks rose 98 to 279.11 and utilities .08 to 142 92. On the Montreal Stock Exchange. Massey Ferguson fell to Hawker Siddeley Canada Ltd Vz to and Canadian Javelin to while Winnipeg grain WINNIPEG push- ed by early buyer posted ma- jor gains in moderate trading at mid- session today on the Winnipeg Com- modity Exchange. Nearby flax futures were up 30 and nearby rapeseed contracts for delivery at both Vancouver and Thunder Bay rose between eight and cents Rye met a moderate demand and rose while barley and oats were also up in quieter trade Wednesday's volume of trade was 1.366.000 of flax. of rapeseed. of 86.000 of barley and of oats Mid-session prices. Livestock Calgary Cattle 1560. Calves Hogs closing sales Wednesday at the Calgary public stock yards were most- ly slaughter cattle Trade was active on A. A2 steers and dull on overfinish- ed steers. Heifers sold steady Cows steady with good kinds scarce Bulls steady. Steers Al. A2. A3. 4250- 44.50 Heifers. Al A2 A3. 40.50-42. Cows Dl. D2. 31 50-33 50. D3. 30-31. D4 27-30 Bulls good 38-42. Replacements were mostly short keep steers in the 800 Ib. weight range Slock calves were 400 Ib and up Prices on all classes of replacements were generally steady Good feeder steers- 800 Ib 4450 feeder 550 Ib 38-43 80. Good stock steer calves 300 lb.'30- b5. stock heifer calves. 400 Ibs 45-50 Hogs base price Calgary yards 511 45 Sows 40. CRANBROOK In two recenj the Cranbrook Sales Point of Community Auction Sales Ltd passed the 1972 sales volume record-of 11.330.000 by reaching the mark with two sales still scheduled. A total of head have been auc- tioned. The recent stock cow and heifer sale turned over 303 quality head at a total of with the 303 pregnancy- tested animals returning an average of a head. Pine Butte Ranch of Wycliffe return- ed a head on its pen entry of 18 bred herefords. and Pighin Brothers ol Fort Steele got a head average for its excellent 44 bred heifers. Albert Holmes as agent for Block bought 100 head at this sale tor stocking their ranch enterprise at Dawson Creek Pighin Ranch animals went to Clark Ranches at Wycliffe and on behalf of Fmdlay Creek now manager Ted Childers bought 84 head including the Pine Butte animals calf and heifer sale Nov 9 sold 566 head which put 1973 over the top The averages- steer calves to 500 pounds 58 to 67 to 600 pounds 55 to heifers to 500 pounds 51 to and heifers to 600 pounds 45 to 51 cents. Animals were entered from Slocan City Columbia and South Country as well as this area. Three railcars were 'shipped to the Merrill Ranch at Ont. and others to Stan Armstrong's ranch at Ont Don Fitzpatnck of Pincher Creek was agent in other large buys. Flax- Nov. 30 higher 10.14B. Dec 30 higher 9.89B. May higher 9.49-'i. July 23 higher 9.25B. Rapeseed Vancouver Nov. higher Jan higher March higher 5 June higher 5.04 '4A Rapeseed Thunder Bay. Nov. 10 higher 4 Dec. 8 higher 4.64B. May higher 4.SOB. July unchanged 4.66B. Oats Dec. not open. May higher July 8 higher 1 44B. Barley. Dec. unchanged May 1 higher July not open Rye. Dec. higher May higher 2 July 4 higher 2.63B. Grain quotes Wednesday basis Lakehead- High Low Close Flax Nov 984 961 984 Dec 959 938 959 May 920 890 920 Jly 902 896 902 Rapeseed Vancouver Nov 516 508y2 Jan 512V4 504 SlOVz Mar 507'4 497 Vz 507 Jun 496 487 496 Rapeseed Thunder Bay Nov 453 452Y2 453 Dec 456 449 Vi 456 May Jly 466 Oats Dec 165 162 165 May Jly- 136 Barley Dec 246 May 240 Jly 220 Rye Dec 263 249 May 267VSi 253tt 267'A Jly 259 Chicago markets CHICAGO The decision by the United States and other governments to scrap the two-tier gold agreement had ah initial weakening effect on commodity futures on the major exchanges. The early liquidation softened and most commodities turned uneven there were some exceptions Wheat futures on the board of trade advance to the limit of 20 cents a while corn and soybeans closed oo a mixed tone Soybean meal and oil and oats gained. Sharp losses were posted by live cat- tle pork bellies and shell eggs on the Mercantile but live hogs closed on an uneven tone. World sugar also declined. Wheat and soybeans fell some 14 cents a bushel corn was down 6 cents and oats about 3. A strong factor in the new buying in grains was the demand for December wheat futures. Chicago stocks of wheat total less than 4 million less than half the amount of a year December wheat in futures rose 20 cents to 4 84'A. As buying increased in oats and soybeans also strengthened A selling factor in cattle was an in- crease in slaughterings and easier car- cass prices. The rebound in live hogs followed the rally in grains. Pork belly selling WPS influenced by an increase in storage .figures Shell egg selling to the limit of 200 points reflected con- cern over cash prices. At the wheat futures were up to 20 December 4 com lower to 2.53 processing Systems JL-imiteJ 1003 4th Avenue Uthbridge Telephone 331-4426 tJQafa recessing 'ervices Among Canadians on the New York exchange. Inco was down Vi to Hudson Bay to and Alcan to Dome Mines was unchanged at and Canadian Pacific at Mcln- tyre gained Vi to Hog prices KDMONTON Closing aveiage prices Wednesday provided by the Alberta Hog Producers Marketing Bodrd Edmonton SI 33 Red Deer- 53 13. Calgary 53 59 Lethbridgc 53.29. Lloydminster 10. Kort Macleod Nil Sales Grande Prairie 51 26. Fair- view No sales Total hog sales 4 total sows 40. average 40 Average 53 55 Currencies MONTREAL Thursday's mid-day foreign exchange nominal selling rates supplied by the Bank of Australia dollar 1.4950 France franc financial 2310 Germany mark .3990 Italy lira commercial 001785 Japan yen .003610 Switzerland .franc .3270 United States dollar 1.0040 United Kingdom pound 2.42 U.S.S.R. ruble 1.4039 Quotations in Canadian funds Dollar value MONTREAL -US dollar in terms of Canadian funds -at noon Thursday was down 11-100 at 93- 100 Pound sterling was down 1 6-25 at 38 33-50 In New the Canadian dollar was up 11 100 at 7-100. Pound sterling was down 9-10 at 9-10. Beef futures WINNIPEG Live beef futures close Wednesday Nov Jan 52 Mar May 52 50A Tuesday's Four contracts. Gold futures WINNIPEG Gold U.S. Winnipeg Commodity Ex- change close Wednesday Jan 74 93 Apr 74 Jly 74 Oct 74 Jan 75 104.00A. Tuesday's 97 Dividends Dividends are quarterly unless otherwise noted. Alps Industries 10 Jan. 25. record Jan. 11. Falconbridge Copper 20 Dec. record Dec 7. Louisiana Land and Exploration 26 cents. U S. an increase of one cent Dec record Nov. 30 New Directors of Shell Canada Limited Herald- Business Canadian Pacific Ltd. rose 'A to and BP to On the Canadian Stock Beaver Mining remained unchanged at on shares traded. VANCOUVER Prices were down Wednesday in light trading on the Vancouver stock exchange. Volume was shares. On the industrials Hobrough was up .11 at on International Land was at on shares. EDP was up .01 at 26 on shares. International Visual fell 02 to .18 on shares. Key Industries was at and Captain International was down .02 at In the Green Eagle rose .03 to .24 on shares. Cutlass was un- changed at on shares. Cop- Ex mining was up .06Va at .39 on shares Silver Standard fell .03 to on shares. United Chieftain fell .04 to .66 and Gold River was down .01 at Most active issue in the oils was Concept up 50 at on shares PRP Explorations was down 02 at .90 on shares. Freehold rose .15 to .95 on shares. Vargas was up .01 at .15 on Chapparal was down .02 at 09 and Monteray A was up .01 at .52. NEW YORK Stock prices headed lower today after a brief attempt to rally and analysts said concern over energy continued to depress the market. The Dow Jones average of 30 in- dustrials. up two points in early fell to 863.71. a loss of 6 17. at noon. Declines led advances by more than three to one on the New York Stock Ex- change The ticker tape frequently lagged behind in active trading. The NYSE composite index showed a loss of 64 to 54 18 at noon. On the American Stock Exchange. the market-value index fell 78 to 99 32 British Petroleum was the NYSE up followed by Penn down at Chrysler lost 1 at Bache and Co fell V4 at and American Airlines lost at Q.C. A. DavMMMt C.C. Lwh C.B.E. Shell Canada Limited thai a recent special-general meeting of shareholders an ncrcasc in the number of directors from eight to icn was sanctioned. Rlcctcd as new directors the Company at the same meeting were Jacques dc A. Davidson md Louis C.B.E. Vlr. dc Billy is a partner in the Quebec Cilv law linn of Ciagnon. de Cantin. Dionnc ind Martin. Mr. Dunton is a Professor and Director of the Institute of Canadian Studies at Tarlcton University. and formerly was President and Vice-Chancellor of the Uni- versity. Mr. Rasminsky was formerly Governor of the Bank of Canada and Industrial development Bank. ADVT. Stocks Miscellaneous Montreal by WESTERN OILS AND MINES Alton 8.15 Albany Oil .63 Alminex Asamera 13.37V4 Ashland Alta East Gas 7.60 BP Canada 14.25 Brenda Mines 8.20 Can South 5.30 Cdn Ex Gas 4.00 Cdn Homestd 7.35 Cdn Ind Gas Oil Cdn Long Is .20 Chieftan 11.75 Cdn Super 56.75 Dome Pete 38.25 Dynasty 11.37V4 Fort Reliance .19 Giant Mascot 2.70 Gibraltar Mines Granisle 9.25 Gt Plains 28.50 Gt Cdn Oil S 9.55 Lochiel Ex 2.86 Lytton Win 1.42 Noble Mines .93 North Cdn ON 6.80 Numac 16.6214 Pancdn Pete 14.00 Pan Ocean Petrol 1.80 Pinnacle .20 Place Gas .60 Ponder .60 Ranger. Oil 30.25 Scurry Rain 20.75 Seibens Spooner .40 Total Pete 6.85 Ulster Pete 1.07 United Canso 20.50 West Pete 6.25 West Decalta 7.35 MISCELLANEOUS INDUSTRIES Acres Ltd 12.50 Aquitame 25.00 BC Sugar Pfd Block Bros 3.05 Cdn Pac Inv Pfd 32.87 Com Cap Corp 2.75 Carling O'Keefe A Pfd 26.00 Carling O'Keefe B Pfd 31.25 Crestbrook Ind 10.00' Crowsnesl Ind 28.00 Falconbridge Copper 13.00 F and M Trust 5.62V4 Genstar 18.00 Global Com Unit 45.00 Home A 51.50 Home B 46.50 Hud Bay Co Hud Bay Oil 43.25 Hud Bay A Pfd 55.25 Hugh Russell 53.50 Husky Oil 26.75 Husky B Pfd 42.12V4 Husky D War Husky E War 12.25 Hys of Canada 4.00 Inter Prov Pipe 8.50 Inter Prov Steel 14.00 Kaiser Res 5.25 Loblaw C Pfd 27.50 Magnasonics 7.50 Pacific Pete 32.00 Pac West Air 8.00 Pe-Ben Oilfield 6.75 Rainier Inc Royal Trust Sandwetl Teledyne West Cdn Seed Westfieid Min Weston A Pld White Yukon 4.75 27.00 5.75 .4.30 5.3714 1.27 60.00 PIPE LINE STOCKS Alta. Gas A 11.00 Alta Gas Pfd 68.00 Alta Nat Gas 19.25 Inland Nat Gas 9-50 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 Tr Can A Pfd 63.00 Tr Can B Pfd Tr Can War 6.90 WC Trans 19.50 WC Trans WtS 3.80 CALGARY ACroll .64 Barons Oils .04 North Continental .01 Vz West Warner .32 VANCOUVER MINES Atlas Explor .33 Bath Norse .76 Dankoe 2.26 Davenport .35 Dolly Varden .20 Equitorial .14V4 Lornex 11.00 Primer .07 Pyramid .12 Silv Standard 1.07 Valley Copper 10.00 INDUSTRIALS Colum Brew 3.05 Key Indus .15 Wardair 1.50 OILS PRP Explor .87 Plains Pete .24Vi Ponderay Explor .84 Stam Intl Res .84 MUTUAL FUNDS All Cdn Com 6.94 7.54 All Cdn Div 7.36 8.00 All Cdn Ventures' 3.73 4.65 Amer Grow F 5.27 5.79 AGF Special 2.75 Cdn Invest F 5.14 5.64 Coilec Mutual 5.70 6.26 Com Inter 14.13 15.53 Com Leverage 3.59 3.95 Com Venture 6.74 7.41 Corp Invest S F 5.26 5.78 Dreyfus Fund US 11.07 12.13 Grpd Income 3.43 3.77 Equity 7.59 8.34 Invest Grow F 12.40 13.56 Invest Mutual 5.92 6.47 Mut Accum 6.17 6.78 Mutual Grow F 3.57 3.92 Nat Resources 5.05 5.54 NW Cdn 5.59 6.14 NW Growth 4.74 5.27 Principal Growth 4.68 5.13 Provident Mutual 7 95 8.48 Royfund 6.90 7.18 Temple Grow 7.91 8.67 Unit Accumul 4.99 5.48 Univers Sav 8.03 8.84 Vanguard 6 43 7.05 Toronto industrials by Richardson Securities of 11 A.M. Sugar MINES Valley Ind Cable Advocate Ind Akaitcho Bralorne Broulan 1.75 .40 O'Keefe Chemcell Cdn Cellulose Power Brunswick Credit Can. NW Gas Pfd Canada Indus Marconi Central Vickers Cons. Coin Lake Cocrienour Craigmont Dickenson Mines Denison .67 7.25 3.05 Bathurst Cons Gas Dist Seagrams Domin Bridge Dome Textile Discovery Mines Stores East Pete East Mobile Cdn Oil Sands First Motors Giant Lakes Paper Oil Cda Hollmger Hudson Bay Hydra Ex. Iron Bay 26.50 .25 3.60 Lines Hawker Sid Hiram Walker Huron Erie Johet Oil Kerr Addison Key Nickel Pipe Lake Group A Langls Internat Madsen Accept Malartic Martin McNeely Doug A Laurentlde Midrim Intern Mogul Nu West Homes New Athona New Calumet 9.05 9.25 .11 A Metropolitan Mass Ferg McMil Bloed Moore Corp' A B Pine Placer Cent Pax Corp Quebec Co CDA Rio Algom Roman Corp. Sherritt Gordon Steep Rock Tek Corp. 12.50 1.82 3.70 Simp Sears Steel Canada Selkirk A Texaco United Grp A Western Mtn Pipe W. House Copper Can Pipe Wright Carbide Gas Oil Yeilowknite Siscoe Mfg A Cdn Seed Algoma Elec Atco Bell Imperial Brazilian Scotlt BC Dom 18.62V4 32.37 16.12VS 4.40 5 62 V4 6.50 2.20 10.25 18.25 3.50 16.25 17 15.62V4. 27.50 42.1 2V4 37.00 22.50 9.00 14.00 38.25 9.25 9.50 54.75 23.25 32.87V4 17.37'Xz 5.00 42.75 29.00 32.75 23.00 9.25 22.75 17.25 5.50 4.55 13.25 35.00 53.00 23.75 23.50 11.50 12.50 15.50 8.50 11.50 30.75 16.25 49.50 16.00 18.25 6.15 6.50 18.25 21.00 3.20 29.50 19.50 3S.2S 37.50 36.00 New York by Richardson Securities of Arflr. Chrysler ComMt 48.00 Woolworth WMttnghouM Etoe. 32.50 30.25 U.S. StMI. 18.00 Oen. Tel. 46.75 TORONTO AVERAGES 163.75 20 induttrlafi 220.17 down .7ft aeneril Motors 20 OoMt 202.31 down .77 pud 22 50 10 100.12 down .05 Int. Harvester 25.50 15 Western Ollt 283.27 down 1.80 Kenn. Copper 36.00 Volume Montaomery Ward NEW YORK AVERAGES M.OO 20 865.44 down 4.44 Exxon 20 171.09 down 2.51 Texn Gulf Ulllltkw down .10 Texas Co. 31.25 65 Stocks 287.49 down 1.84 Wlx Corporation -70f -60i Per Gallon Gasoline Price Breakdown ftttoif B.C. Alto. Sdtk. Man. Ont. Que. P.E.I. N.I. N.S. Nfld. Rising in the east A Cross-Canada survey by the Canadian Press shows with a provincial gasoline tax of 25 cents a having the highest retail price this week of 69.3 cents a gallon for regular gasoline. The graph gives a province-by- province showing the average of retail prices per gallon of regular the provincial sales tax and the dealer profit. U.S. trade relations with China increasing HONG KONG The United States has become one of the leading trade partners of China with dramatic speed as relations between the two countries thaw. Before President Nixon visited Chairman Mao Tse- tung in Peking in most trade between the two countries was banned and only a trickle passed through Hong Kong. But reliable estimates show that in two-way trade is expected to reach million and may hit billion. Most of the trade is in U.S. exports to China and should produce a surplus of at least million for making the U.S. the second leading trading partner of China after Japan. Although trading is U.S. corporations have made huge deals with China this year and the outlook is that they will continue to do so. One of the best known contracts has been the sale of Boeing 707 airliners to China. But one of the biggest Oil firms seek fuel price hike TORONTO Spokes- men for Shell Canada Ltd. and Imperial Oil Ltd. said Wednesday they have asked the federal government for permission to increase prices of heating oils 'and diesel fuel sold east of the'Ot- tawa River valley. The Shell request is to raise the price of diesel and aviation gas by 5.1 cents a gallon and heating fuels and fuels for industrial uses by 4.5 cents a gallon. Imperial declined to dis- close the amount of its propos- ed increases. The increases requested by the two two largest oil companies Canada in terms of based on increases of imported crude oil. The area east of the Ot- tawa Valley depends primari- ly on imported crude. Gulf OH Canada No. 3 in Canadian has not applied for increases but a company spokesman said an application is being prepared. Neither Shell nor Imperial disclosed dates of when they propose the increases should take effect. The federal government's voluntary price freeze on petroleum products went into effect Sept. 4 and companies Opportunities for trade in Europe good EDMONTON There are plenty of market oppor- tunities in Europe it is up to us to take advantage of Bruce Canada's trade commissioner to Denmark said Wednesday. can sell anything all you need is availability and a he said in an inter- view. Danish market is a good testing ground for Denmark is importing more manufactured goods from including raincoats from British Columbia and a wide range of wearing apparel from Quebec and Mr. Marshall noted. the problems is that many- firms in Canada haven't thought of exporting to he added. During the last six Denmark imported million worth of Canadian but it also imported more than million in American goods. generally have sought govern- ment approval for increases. The Shell spokesman said prices it pays for imported crude oil have gone up by about a are 35 gallons a Oct. 16. Imperial Oil's application asks for increases to cover two jumps in crude increase of to fl.20 a barrel since Nov. and an increase of 26 cents a barrel that went into effect Aug. 1. The Imperial spokesman said the Sept. 4 freeze cut off plans to recover the effects of the Aug. 1 increase. The government has allow- ed an increase since Sept. 4 to offset crude oil price increases from that date to Nov. 1. The difference in crude price increases between the two companies results from the fact that they rely on a different mix of imported oil from the Middle East and Venezuela and there have been different price increases in those two areas. businesses is in a wide range of American foods from wheat to cattle hides. SOYBEANS AND HIDES In the first nine months of this U.S. traders have shipped more than 1.9 million tons of wheat to China worth about corn worth and cotton worth. million as well as large quantities of soy- bean oil and some tobacco and hides. Trading in American farm products has taken the U.S. far ahead of its two main rivals for the China market Canada and Australia. Canada is expected to sell two million tons of wheat to China next year and Australia one million tons. Unofficial estimates of U.S. wheat sales to China from to 1974 are put at about four million tons. Despite fairly good some analysts here expect China's imports of food stuffs will slowly increase. Volkswagen rftfft cars TORONTO Volks- wagen Canada Ltd. announced today it is recalling about 340 Audi Poxes to check the bolts holding the rear wheel backing plates and replace them if necessary. The company said in a news release that the cars involved were manufactured between February and July of 1973. It said that the owners might experience a shimmy in the rear wheels of the cars because of possible damage to the bolts during loading of the cars in Germany. WANT MORE If you can meet public and can Mil or are willing to you can your own Income selling housing for Look THIS IS NOT A REAL ESTATE JOB. Contact JACK Phone 327-3744 Alberta Your Business Associates Will Be Staying At The 3 Bisters B.C. Color Telophorw See You -4438 i For Lease In ntooorn now Addition to fl ZOOS PLENTIFUL There are about 900 loos In the world. 3 PAHULJE CONSTRUCTION LTD. I PHONE S274747 .t. ;