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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 18, 1974, Lethbridge, Alberta The Herald Business Market prices lower on TSE Monday, November 18, 1974 THE LETHBRIDGE HERALD 17 Kaiser, Soviet Union, Japan involved Coal mining technology pact signed Stocks Miscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN 50 AND MINES Afton Mines Albany Oil Alta East 23 Teledyne Traders Grp Pfd 450 1000 320 A Ashland 3P Canada Brenda Mines Cda 380 STOCKS Alta Gas Trk A Alta Gas Trk 87% 5600 Cdn Ex Gas Cdn Homesld Cdn Ind Gas 280 Nat Gas Gaz Metro Gaz Metro A 525 4950 Cdn Long Is Cdn Nat Gas N C 8 87% Chieftan Dev Dome Pete Dynasty Mufort 1962% 700 C Gas B Pfd Trans Cda Pipe Trans Cda A Pfd Trgns-Cda B 9 12% 4900 2900 Slant 3ibraltar Trans 75 3t Cdn Oil -ochiel .ytton Morth Cdn Mumac Oil 3ancdn 3an 87 3lace Danger Scurry Total 94 Jlster Jnited West 01 West 05 3C Sugar C 3lock Int I 2dn Pac Inv A 3dn Pacific Cdn Darling 0 Keefe A Cdn Darling O Keefe B Cdn Domm Cap Growth Drestbrook G F 86 Drowsnest Invest "alcon 15 M Trust Int I Home Oil Home Oil Invest Stock Hud Bay Fund U Hud Bay in Hud Bay Oil A Hugh Russell C Growth Husky Husky Oil B Husky Oil E nterprov Pipe W nterprov Steel Pipe Wbi can ooma Steel oo ind Ira 1nd Tel ascan A Tel Forest 1 Sugar 1 Valley Ind 1 Ind Power 1 Foods Cellulose 305 o Keefe Chemcell Credit Gas Pfd Ind Marconi Vickers 1 8 Bathurst Gas 28 Seagrams Dom Bridge 1 Textile Stores Pete Mobile Cdn Oil 1 Motors Lakes Paper 14 OH Sid Walker A Erie 11 Oil A A Nickel Pipe Grp A Intl 1 Ltd nock Douglas A A 16 Ferg McMill Bloed Corp A B Cent Corp CDA Sears 5 87' Can A 1 A 4 Grp A Mtn Pipe 7 Can Pipe Carbide 1 Gas 1 Oil 1 Siscoe M1g A 19 23 Imperial ScoJia 1062 Dom 900 1125 19 12V4 1350 9 675 1975 250 445 215 390 1 50 8 1750 3 10 1300 850 1325 26 24 1337% 32 12V4 17 5C 1950 6 1450 1975 2075 1 10 600 31 12V4 2450 1200 435 3700 2475 2525 2350 21 62V4 1350 587V4 9 1800 5 12Vi 205 440 8 12V, 240 475 1075 13 12V, 22 87V, 3925 1450 13 12% 662V, 8 290 825 975 1200 887'.- 2350 1025 3075 11 50 11 9 12'.- 1700 837 900 285 525 1850 19121 2212', 1212 3587 2850 33 MONTREAL (CP) Prices were lower in moderate trading on the Montreal Stock Exchange today The industrial index dropped 5 13 to 162 33 the composite 3 67 to 160 49 banks 36 to 220 26 papers 19 to 100 98 and utilities 13 to 162 33 Moore fell 1 to Imperial Oil A Vs to Reed Shaw Osier A Vz to Shell to Brascan A Vt to Inter- national Nickel A Vt to and Cana dian Pacific Ltd to B C Telephone rose to Texaco Canada 1% to and Hollmger Mines A to Vt Among speculative issues Stanford Mines rose seven cents to 37 after trading 32 600 shares VANCOUVER >CP) Prices were mixed in light trading on the Van couver Stock Exchange today Early volume was 96 615 shares In the industrials B C Tel was un changed at on 265 shares In the mines Sonesta was up 01'A at 34 on 16 000 shares In the oils Payette was down Ol'A at 15V2 on 1 500 shares On the curbs 13367 shares were traded Abaca was down 01 at 45 on 9 000 shares NEW YORK (AP) Inflation recession and coal strike worries combined to drive the stock market sharply lower in fairly active trading today The noon Dow Jones average of 30 in Livestock Calgary CALGARY (CP) Receipts to 11 a m today from the Calgary public livestock stockyards totalled 600 head mostly slaughter cows and feeder steers and heifers Trade was active with good local and eastern demands There were insufficient slaughter steers or heifers on offer to establish quotations Choice cows sold 50 cents higher while lower grade cows were fully steady No bulls were on offer Cows Dl D2 20 to 22 50 D3 17 to 20 D4 14 to 17 Feeder cattle sold steady Good feeder steers more than 750 pounds 40 to 46 Good feeder heifers more than 550 pounds 28 to 36 No hogs were sold to 11 a m Fort Macleod FORT MACLEOD On offer by Fort Macleod Auction Market last week were 1433 head of cattle The market was active on all classes of stocker and feeder cattle Fed steers were up heifers fully steady Cows traded on an active market All classes of stocker and feeder cattle met with good demand SLAUGHTER CATTLE Al 42 steers 51 51 70 with all kinds on offer being short fed kinds Al A2 heifers again being short fed 42 4270 Dl D2 cows 20-23 outside top of 25 D3 cows 16-19 D4 cows lO-lo good bologna bulls 20-23 75 STOCKERS AND FEEDERS Top quality ranch yearling steers 42 46 lighter weights and medium quality 38-41 50 top quality ranch yearling heifers 33 36 lighter weights and medium quality 29-34 CALVES The Thursday calf sale saw active trading on all classes with top quality calves selling 2 CWT higher than last week Top quality ranch steers (425-525 pounds) 42-45 heavier feeding calves 38-41 top qualiH heifer calves (425-525 pounds) 3235 Once again all medium and plain quality calve1; sold under pressure Hog prices EDMONTON 'CP> Prices to II a m Monday provided bv the Alberta Hog Producers Marketing Board Fn- dav prices in brackets Edmonton 50 55 (51 10) Calgarv 5065 (5135) Red Deer 5055 was up 3 50 at SO SS 22 25 Pound steri ing was up 1 57 100 at 30 27 50 In New Vork the Canadian dollar was down 3-50 at SI 10 13-100 Pound sterling was up 3 9-20 at J2 33 3 20 Dividends New York (Supplied bv Richardson Securities of Canada) m T 1h Steel ;H (Tin Copper Ward isrs ron Gull Co Corporal ion Woolworth 1075 1600 Weslnghouse Elec 912% 2562V, US Steel 3725 Gen Etec 1775 27 75 TORONTO AVERAGES "0067Vi 20 Industrials 161 04 down 137 32 00 20 460 62 up 78 17 00 10 Base Mslak 66 74 up 15 20 00 15 Weslern Oils 139 44 (Sown 1 89 36 50 Volume 937 000 15 87 NEW YORK AVERAGES 48 00 20 Industrials 633 14 dcrwn 14 51 64371? 20 Rails 14798 down 368 2650 15 Ulilitiss 68 48 flown 76 21 12% 65 Stocks 204 tt 112 9 25 Volume 7 740 000 THE CANADIAN PRESS British Ohmrtrfa Tclcplwnr Co 05. per-cetit pfd J112 404- per-cCTil pfd XI25 cents .vvpcr-rent pfd SI 43 7 04 pcr-cenl pfd 44 rents all Jan 1 1S7S record Dec 11 1974 cent pfd IS per cent pfd 19S6 18 5 renl pfd 28 all payable Jan 15 mwdDtt- 24 1S74 pfd Jl 09 six-prr-ctirt pfd fl if) payable Frb 1 1S75 record Jan IP 1975 6 pfd 42 5 cents Dfrr IS record Nov 22 (jnwdlnn Western Natural four per-com pfd 20 cents pt-r-rrnl pfd 27 cents both pavable Dtr 2 word ]4 Chum tld class B six rents Dfr 1 record 15 dustnals was down 14 47 at 633 14 and losers swamped gamers by about 8 to-1 on the New York Stock Exchange On the American Stock Exchange the market value index was down 1 20 at 67 56 The NYSE s composite index of nearly 1 500 common stocks fell 90 to 3724 Houston Oil Minerals the volume leader on the Amex fell 2 to Among Canadian issues on the NYSE Alcan fell to Canadian Pacific Vt to and Hiram Walker to Seagrams was unchanged at while Dome gained Vt Winnipeg grain WINNIPEG (CP) All futures prices dropped sharply man} easing their daily trading limits in moderate activity at mid-session today on the Winnipeg Commodity Exchange All flax and most rapeseed and corn months were down the limit with rye near the limit in all months Mid session prices Thunder Bav rapeseed Nov 20 lower878A Dec 201ower881A May 20 lower 8 85A July 11 lower 8 93A Vancouver rapeseed Nov 20 lower Jan Mar 20 lower 8 86B June lower 8 64B Flax Nov 30 lower 10 31 Dec 30 lower 10 May 30 lower 10 48A July 30 lower 10 45A Feed wheat Dec eight lower 3 91A Mav two lower 3 79A July not open Corn Dec one lower 3 95 A Mar 10 lower 4 OOA May 10 lower 4 06A July 10 lower 4 OOA Barlev Dec lower 3 May lower 3184 Julv three lower 321A Oats Dec 1% lower 1 98 AA May 1% lower 1 98% July not open Rye Dec 14 lower 301 Vz Ma> 14 lower 3 18'zA Julv 14 lower 3 ZURICH (Reuter) The United States dollar today plunged and then rallied on European foreign exchange markets in trading that was chaotic at times but its un- derlying trend remained downward The West German central bank again intervened to shore up the dollar, buying million when the US currency was fixed at 2 4630 marks Meanwhile, the pound ster- ling took a hammering in Lon- don against other major cur- rencies, showing a 20 6-per- cent drop in value compared with three years record low Against the background of uncertainty over currency rates, gold was again in heavy demand on the London bullion market It reached yet Marble quarry studied FORT McMURRAY (CP) The provincial government is studying a plan to develop a commercial marble quarry near Fort Chipewyan, R V Henning, northeast Alberta Regional Commissioner, said here Mr Henning said the mar- ble quarry is one of many alternatives being studied to aid residents of Fort Chipewyan hard hit by the depressed lumber industry "I understand there is quite a bit of marble in the area, although it's not being used a great deal in construction any longer' another record fixing level of an ounce The intervention by the West German central bank to- day was the third since the present upheaval on currency markets started last week The bank came into the market more strongly this purchases Thursday and Friday totalled less than million Speculation against the dollar was unleashed by West German Chancellor Helmut Schmidt's statement last week that he had no objection to a further rise in the value of the mark as one way of reduc- ing his country's huge foreign trade surplus Dealers in London said this remained the main factor be- hind continuing pressure on the dollar, despite the weekend statement by a Bonn government spokesman that West Germany does not intend to make deliberate financial policy moves leading to a change IP the mark's value Oil sands show prof it and Edgdi F Kaiser Jr president and chief executive officer of Kaiser In hydraulic mining coal is dislodged from sloping un- derground seams by the force of high pressure jets of water Dislodged coal is carried from the mine through flumes to a plant where the water and coal are separated The water is recycled for reuse in the mine SHARE ROYALTIES The statement says the two companies and the Soviets will share their expertise and any royalties from sale of their combined technologies As part of the agreement the Soviets and Kaiser will share any royalties from the manufacture and sale of hydraulic mining equipment Kaiser operates a metallurgical coal mine in British Columbia using a hydraulic system developed with Mitsui Mr Bratchenko said his ministry has 1 700 experts engaged in hydraulic mining research and development programs "We believe that the com- bination of Mitsui mining s and Kaiser resources proven technology with ours will strengthen capabilities for improving underground coal mining production CALGARY (CP) Great Canadian Oil Sands (GCOS) Ltd is m the black again this time to the tune of nearly million The company has reported profits of for the third quarter of 1974 after tax- es and this was boosted to by special income tax provisions Higher oil prices since April 1 were cited by GCOS presi- dent Kenneth Heddon for the increasing profits GCOS now gets about per barrel for synthetic crude POTTERY EXPORT RISE British pottery' exports in the first half of this year rose by 7 million LIFE INSURANCE 9 W (Initial Amount) Level Term Option ANNUAL PREMIUMS Age 20-155 00 Age 35-228-00 Age 25-160 00 Age 40-321 00 Age 30-167 00 Age 45-475 00 KEN BELSHER OCCIDENTAL LIFE of California 439A HOLIDAY VILLAGE Phone 328-0944, RM. 328-0994 (Initial Amount) (20 Year decreasing Convertible Term Insurance) leisure years made easier. Bust Canadian Retirement Savings Plan an on first Canadian Retirement Savings Plan helps you plan far your leisure years. Retirement can be the time of umr life But h.m plan for it now while >our earning power and probnhK arc high "You can start h> reading about First Canadian Retirement Savings Plan and how it can make leisure years as well as our vn me ears much much easier Reduce your income tax while you save for your retirement. B> imestmg in First Canadian Retirement Plan any time during and up to 60 after a taxation %ear may reduce taxable income the amount ot ime-t ment up to the lesser of ot %our earned income 54000 it vou no pension plan 52500 it are a non-contributing member of a pension plan or 52500 less the amount ot %our contributions to a company pension plan tax reduction is not affected b> payment into the Canada or Quebec Pension Plans Income tax will to be paid on %our even either when used as retirement income or it vou with draw vour ings prior to retirement but probabK ,n T r rate than dunnc peak e.irnmc Choose from two options, At present there arc two options Roth, eligible for registration with the tax authorities MI that reduce >our annual income tax Option I-Rrst Canadian Mortgage Fund. In s financial market, imostment in a qualm mont'O fund is considered a good bet to pnxiucc a rclamcK M.V.UTO high over the long term At the same nine im esiors rrm rcahic an increase in of their units ing on mortgage interest raics the purchase or rcdcmpjion of these Option n-Rrstbank Special Retirement ACCOUnt. 'V our deposits m :his .special bank account will cam interest at the s Fn e Yc-ar-Tcrm DcpoMt Receipt rate This rate of interest will he fixed en Januarv KtandluK 1st at the rate ailmc that da> and remain m effect for six months Interest is calculated and iblr on >OUT minimum monthly balance and credited M-mi-annualk Available now CKer the long term the >icld will var> hut he tied to the upper end of the scale ot hank interest rates Option I and Option n. it m.n hm into both hirst Canadian Mortgage Fund ,md Firsthnnk Special Retirement Account In fact the long term and as eco nomic conditions fluctuate (me option become more profitable and appropriate than the other ma> switch from one option to another without penaln or charge The cost of this plan is minimal. L nlike mam other registered retirement plans there is no Ln.irge tor opening or closing ,1 plan There is an Trustee fee ot 1 5 ot ot >our imestment rmximum per account to registration and the expense of the Trustee ot the plan The amount will be deducted trom %our share of the i ncomc ot the plan and w ill be indicated on statement The standard management fees will also be applicable You start by investing as little as Thi minimum initial contribution into First Canadian Mortgage Fund and Fir-tMnk Retirement Account is 5200