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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 19, 1974, Lethbridge, Alberta 16 THE LETHBRIDGE HERALD Tuesday, Novvmbtr 19, 1974 Budget report pushes market prices lower TORONTO (CP) Monday night's federal budget sent shock waves through the To- ronto stock market today with all major sectors off sharply in moderate mid-morning trading. Among the hardest hit were shares of oil companies. In- dustry officials criticized the budget provision that resource companies cannot deduct pro- vincial royalty payments from federal taxes. MONTREAL (CP) Prices were lower in light trading on the Montreal Stock Exchange today. Oil issues dropped. Industrials fell 5.31 to 159.71. the composite 3.87 to 158.40, banks 1.18 to 219 26. papers 37 to 101.13 and utilities .08 to 121.45. Imperial Oil A fell 2% to Gulf Oil Canada to Dome Petroleum to S18V4. Husky Oil to Noranda Mines A to Al- goma Steel 14 to MacMillan Bloedel Vi to Alcan to and Stelco A to Among speculative issues. Silver Stack Mines fell four cents to 75 cents after trading shares. VANCOUVER (CP) Prices were down Monday in light trading on the Vancouver Stock Exchange. Volume at the closing was 972.601 shares. In the industrials. Key Industries was unchanged at .06; Canadian Javelin down at and of a cent: B.C. Sugar warrants A unchang- ed at Four Seasons unchanged at 44: Block Bros unchanged at Mercuria unchanged at .05. In the mines. Colt up 06 at .40: Con- solidated Beaumont up .03Vz at Sonesta down at .29: Groundstar Chicago markets CHICAGO (AP) Limit declines were posted by many commodity futures on the major United States ex- changes Monday. All the major pits on the Board of Trade closed with limit declines including 20 cents a bushel in soybeans and Chicago wheat. 10 cents in corn, six cents in oats. S10 a ton in soybean meal and 100 points in soybean oil. Limit declines on the Chicago Mer- cantile Exchange included a hundredweight in live hog futures. S1.50 a hundredweight in live cattle. 150 points in pork bellies and 200 points, or two cents a pound, in shell egg futures. Possibly the outstanding reason for the widespread selling is the general concern about the country's and world's economic condition. At the close, soybeans were down 20 cents a bushel. November 7.45: Chicago wheat 20 lower. December 466. Gulf wheat did not trade; corn was 10 lower. December 3.54. and oats six lower. December Gram quotations Mondav. Wheat.' Dec 4.66. Mar May Jui 451: Sep 457 Corn. Dec 3.54. Mar 3.63'2. May Jul 3 Sep 3 55'i: Mar 3.26. Oats. Dec 1 67'-2. Mar May 1.74: Jul 1.76: Dec 1.77. Dollar value MONTREAL (CP) dollar in terms of Canadian funds at noon today was down 7-50 at 17-25. Pound sterling was down 127-100 at 7-25. In New York, the Canadian dollar was up 7-30 at S1.01 33-100. Pound sterl- ing was down 19-20 at S2.32 7-20. The western oil index dropped 7.49 to 132.00, base metals .65 to 65.79 and golds 13.6 to 425.31. The industrial index, widely-based indictor of market trend, was off 2.03 to 158.72. The market's oil refining in- dex dropped 15.8 to 172.01. Trading was delayed at the open in shares of Shell Canada due to an imbalance of orders. Shell was off IVt. to at mid-morning. Among other senior oils, Market trends up .01 at .88, Grandora up .01 at .88: Northair down .05 at In the oils. Monterey A unchanged at .11: Payette up .01 at .18; Western Ex unchanged at .03; Williams Creek un- changed at .05; Seneca Developments down .01 at .73; Rand A down .05at .55. On the curb exchange 259.367 shares were traded. Cedar City unchanged at .40; Tapin down .05 at .57; Dasher down .13 at .30; Mark V up 06 at Abaca Residents down .02 at .44. Em- pire down .038 at .06. NEW YORK (AP) The stock market added to its recent lasses today but seemed to have levelled off by mid- day. The Dow Jones average of 30 in- dustrials, down more than 6 points in the early going, showed a 3.60 deficit at Gulf Canada dropped 2 to Imperial Oil A 2 to Dome Pete IVz to Husky 1% to Pacific Pete 1 to and Bow Valley 5 to Dome Mines lost to Pamour to and Mcln- tyre V2 to Pine Point gained to Numac Oil and Gas slipped to Siebens to and Pan Ocean to Skye Resources rose 25 cents to 621.32, at noon. Losers maintained a 3- to-1 lead over gainers on the New York Stock Exchange. The Southern Co. was the NYSE's most active issue, up V> to A 150.000-share block traded at On the American Stock Exchange, the market-value index lost 1.39 to 65.64. The NYSE's composite common- stock index declined .24 to 36.52. Giant Yellowknife Mines, the Amex volume leader, lost 1V8 to V8. In Canadian issues traded on the NYSE. Canadian Pacific was up Vfe to Dome .Mines dropped to Seagrams to and International Nickel V8 to Alcan was off Vt to and Massey Ferguson to Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Tuesday frorn the Calgary public stockyards totalled head, mostly slaughtet steers with some heifers and cows on offer. Trade was active and met good local and eastern demands. Steers sold fully steady to 25 cents higher. Heifers were steady. Cows and bulls steady. Steers. Al. A2: 51-52.75. A3: 49-51. A4: 45-49. Heifers. Al. A2: 42.50-43.50. A3: 40- 42. Cows. Dl. D2: 20.50-22. D3: 18-20. D4- 14-18. Bulls, good: 20-24. There were insufficient feeder heifers or stock steers or heifers on offer to establish quotations. Feeder steers were steady at 40-46. Hogs fob to 11 a.m.: 52.05. Feed prices WINNIPEG (CP) Wheat board domestic feed grain prices Monday: 3 CW Red spring wheat 3.98Vz; No. 1 feed barley 2.98'4: No. 1 feed oats Beef futures WINNIPEG (CP) Live beef futures close Monday. Nov. 51.00N; "Jan. 50.00A: March 50.00N: May 49.00A Friday's volume: No contracts. Currencies MONTREAL (CP) Tuesday's mid day foreign exchange selling rates supplied by the Bank of Montreal: France franc .2170 Germany mark .4160 Japan yen .003350 Mexico peso .0805 Switzerland franc .3900 United States dollar .9915 United Kingdom pound 2.3350 U.S.S.R. ruble 1.2958 Quotations in Canadian funds. DOES YOUR FURNACE LOOK LIKE THIS? REPLACE IT WITH A NEW FURNACE From ALCON REFRIGERATION HEATING Carrier A} the same time why not install an Air Conditioning System complete with Power Humidifier and Electon- ic Air Cleaner. for further information and call ALCON REFRIGERATION HEATING Furnaces, Sheet Metal and Heating, Air Conditioning 2214-43rd St. S. Phone 327-5816 Hog prices EDMONTON (CP) Prices to 11 a.m. Tuesday provided by the Alberta Hog Producers Marketing Board. Mon- day prices in brackets: Edmonton. 52.05 Calgary: 52.05 Red Deer: 52.05 Letnbridge: Nil Fort Macleod: Nil Hogs sold to 11 a.m. 309, hogs sold. 9.449. average 52.59. Sows average 33.60. Winnipeg grain WINNIPEG (CP) Futures prices continued to plunge in moderate activi- ty at mid session today on the Win- nipeg Commodity Exchange. Rapeseed, flax and corn all were down their respective daily trading limits, with other commodities not far behind. Monday's volume of trade was 000 bushels of feed wheat. of oats. of barley. 102.000 of cor- n, 1.007.000 of rye, 445.000 of flax and of rapeseed. MID-SESSION PRICES: Thunder Bay rapeseed: Nov. 20 lower 8.58A; Dec. 20 lower 8.61A; May 20 lower 8.65A: July 20 lower 8.65A. Vancouver rapeseed: Nov. 20 lower Jan. 20 lower 8.84VzA; Mar. 20 lower 8.66A: June 20 lower Flax: Nov. 30 lower 10.01A: Dec. 30 lower 10.05V.iA: May 30 lower 10.18A: July 30 lower 10. ISA. Feed wheat: Dec. two lower 3.87B: May six higher 3.77; July 10 lower 3.73A. Corn: Dec. 10 lower 3.76A; Mar. 10 lower 3.90A: May 10 lower 3.96A; July 10 lower 3.90A. Barley: Dec. 5 "4 lower 2.93: May 6Vi lower 3.05A: July eight lower 3.06A. Oats: Dec. May% lower 1.93B: July lower Rye: Dec. 5% lower 2.95A; May TA lower 3.10A; July 10 lower Grain quotes Monday basis Lakehead: High Low Close Flax Nov 1031 Vz 1031 1031 Dec 1035V4 May 1050 1048 1048 Jly 1045 Rapeseed Thunder Bay Nov 878 Dec 881 May 885 Jly 885 Rapeseed Vancouver Nov 909% Jan Mar 888 886 886 Jun 866 Rye Dec 308 May 326 Jly 3191! 3I81! Barley- Dec 308 May 318 Jly 314 Oats Dec May 290 Jly 198 Corn Basis Montreal Dec 386 Mar 405 400 400 May 412 406 405 Jly 400 Feed Wheat Dec 399 389 389 May 381 371 371 Jiy' 383 Metals LONDON