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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 21, 1974, Lethbridge, Alberta Thursday, November 21, 1974 THE LETHBRIDGE HERALD 27 The Herald Business Stocks M iscellaneous Vancouver, Calgary, Montreal Midland Doherty Limited WESTERN Ben AND Alton Albany Alia East A Ashland BP Brenda Gas Cda Gas Cdn Export Nat Cdn Metro A Cdn Ind Nat Cdn Long C Cdn 8 C B Chieftan Dome A B Nu Ft Pipe Giant Gibraltar Trans Grt Cdn Lochiel Lytton North Cdn Numac PanCdn Pete Vl Pan Place Ranger Scurry Total Ulster United West West Acres BC Sugar C Block Int'l Canbra Cdn Pac A Cdn Cdn Pac Cdn Carling A Cdn Carling B Growth Com Crest Invest Crowsnest Falcon F M Int'l Home Oil Invest Stock Home Oil Fund Hud Bay In Hud Bay Hud Bay A Growth Hugh Russell C Husky Husky Oil B Husky Oil E Inter Pipe Inter S Kaiser Kaiser Res Loblaw C Pac Toronto mines, industrials (Supplied by Richardson Securities ot Canada) MINES Acme Advocate Asb. Akattcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Faiconbridge Frobex First Manlimes Giant Y.K. Granduc Hoflmger A Hudson Bay M6S A Hydra Ex Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G.F Martin McNeely Maclntyre Meta Midnm Intern Mogul NuWes! Hoiies New Athona New Calume! Noranda Pine Poin' Place' Dev Pax Exo Quebec Man RayrocK Radiore Rio Algorn Roman Core SnerriTI Gordon Sleep RocV Sunmnodale Tek CO'D A Wes'c ri Mi WH WMlroy Zenmac. Mines INDUSTRIALS Aloan Algoma Siocl Aico Agta Ind Ben Tgi Brascan A Tel Forest Sugar Valley Ind Ind Power Foods Cellulose O'Keefe Credit Gas Pfd Ind Marconi 17' Vickers Bathurst Gas Seagrams Bridge 1 Textile Stores Pete Mobile 1 Cdn Oil Motors Lakes Paper Oil Lines Sid Walker A Erie Oil A A Nickel Pipe Grp A Int'l 31 Ltd Douglas A A 27 62' Ferq Bioed CorD B Cen! Corp CDA Sears Can A A GTD A 2 Mln Pipe 1 Car- Pipe 1 Carbide 1 Gas Oil Siscoe 05' Mia O Dfs A Imperial Scotia Dom 47.00 8.50 11.50 19.50 9.37V, 6.50 19.50 2.50 4.20 2.15 4.00 1.50 8.25 17.25 3.05 12.00 8.50 12.75 25.00 13.25 31.00 17.00 6.50 14.25 17.25 20.25 1.50 5.25 30.371-; 16.00 21.87'v- 11.50 4.25 35.50 22.25 22.50 20.87'.- 13.00 5.62'j 950 17.37'.- 5.25 1.83 4.30 7.00 2.45 4.70 10.62''.- 12.37'.- 2300 38.12'.- 14 12'.- 13.00 625 S75 250 862'.- 9.75 10.37'.- 675 900 22 87' 1025 2950 '1 00 11 50 900 1662'.- S.25 650 245 512'.- 1775 1850 1762'.- 21 87-j 1200 3550 2BOD TSE gold shares higher; others dip in light trade TORONTO (CP) Gold shares were higher but other sectors of the Toronto stock market declined in light rnid- morning trading today. The gold index was up 12.4 to 424.00, largely in response to higher bullion prices on overseas markets. The in- dustrial index, widely-based MONTREAL (CP) Prices were lower in light trading on the Montreal Stock Exchange today. Industrials fell .56 to 156.97. banks .51 to 219.04. the composite .46 to 156.10, papers .17 to 101.45 and utilities .13 to 119.77. Shell Canada fell 3-4 to Commco '-'2 to Labatt A '.4 to J15''4. Imperial Oil A to Inter- national Nickel A to and Total Petroleum 10 cents to S4.70. Canadian Javelin rose to S7'.z, Velcro In- dustries V4 to and Domtar to Among speculative issues. American Eagle Petroleum fell 17 cents to 45 cents after trading 70.000 shares. VANCOUVER (CP) Prices were up in light trading on the Vancouver Stock Exchange today. indicator of market trend, fell .51 to 156.49, base metals .51 to 62.72 and western oils .66 to 124.93. Among golds, Dome Mines rose to Camflo to Campbell Red Lake 1 to and East Malartic 10 cents to Laurentide Financial fell Market trends In the industrials, Pacific Northern Gas preferred was unchanged at In the mines. Tyee Lake un- changed at .04; In the oils. Coseca un- changed at and on Yucanadian unchanged at .04. Prices were up in light trading Wednesday. Closing volume was 637.697. In the industrials, Canadian Javelin was down .25 at Newmark un- changed at .47; Key Industries un- changed at .07. Gestalt preferred un- changed at 2.00; Great National Land unchanged at .75; EDP Industries un- changed at .07. In the oils. Bison Petroleum down .15 at August Petroleum down .02 at .14: Monterey A unchanged at .10; Stampede unchanged at .52. Commer- cial unchanged at .08; Seneca Developments up .02 at .68. In the mines, Colt was up .01 at .41; Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Thursday from the Calgary public stockyards totalled 2.800 head." mostly lower-grade cows with some slaughter cattle. Trade was moderately active. Slaughter steers met an improved demand from local and eastern buyers. Prices were SI higher from Wednesdays close but still below- last weeks high. Slaughter heifers and bulls traded generally steady. Steers. Al. A2: 49 to 50.50. A3: 47 to 49. Heifers. Al. A2: 42 to 43.25. A3: 40 to 42. Cows. Dl. D2: 19 to 20.50. D3: 17 to 19. D4: 13 to 17. Bulls, good: 20 to 23.75. Good feeder steers more than 750 pounds: 39 to 43: under 750 pounds: 36 to 40. Good feeder heifers more than 550 pounds: 32 to 35. Good stock steer calves more than 400 pounds: 38 to 43: 300 to 400 pounds: 34 to 39. Good stock heifer calves more than 400 pounds: 29 to 33: 300 to 400 pounds: 29 to 33. Butcher calves: 28 to 30. No hogs were sold to 11 a.m. Chicago markets CHICAGO i AP) Farm commodity futures, under heavy selling pressure for several days, turned strong Wednesday with a new developing demand. There were several limit advances. Soybeans and soybean oil futures, both trading in expanded limits under Board of Trade rules, advanced 30 cents a bushel and 150 points, or cents a pound, respectively. Corn clos- ed 10 cents higher, and oats six cents, both limits. Wheat futures closed with a seven- cent gain after an early drive had push- ed prices up 11 cents. Soybean meal ad- vanced S9 a ton. just short of a limit. Hog futures gained up to the limit SI.50 a hundredweight on the Chicago Mercantile Exchange and pork bellies rose to the limit 150 points, while cattle futures advanced SI.15 a hundredweight. Shell eggs closed mix- ed. At the close on the Board of Trade, soybeans were up 30 cents a bushel. January 7.68'z. Chicago wheat 3 to 7 higher. December 4.83: Gulf wheat did not trade, corn was 10 higher. December 3.56'i; and oats rose 6 cents. December 1.7234. Grain quotations Wednesday: Wheat: Dec. 4.83: Mar 5.02: May 504. Jul 4.74: Sep 4.79: Dec. 4.87. Corn: Dec 3.56' Mar 3.66'z: May Sep3.59'i: Dec3.25. Mar 3.31. Oats Dec l.'Pi: Mar 1.76'4: May Jul 1.79'z. Sep 1.79'i. Hog prices EDMONTON (CP) Prices to 11 a.m. Thursday provided by the Alberta Hog Producers Marketing Board. Wednesday prices in brackets. Edmonton: 52.10 Calgary: 52.15 Lethbridge: Nil Fort Macleod: Nil Hogs sold to 11 a.m. 688. Hogs sold Wednesday 5.031. Average 52.01. Sows average 32.65. Currencies MONTREAL (CP) Thursday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: France franc .2160 Germany mark .4050 Japan yen .003340 Mexico peso .0805 Switzerland franc .3700 United States dollar .9885 United Kingdom pound 2.3200 U.S.S.R. ruble 1.2958 Quotations in Canadian funds. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was up 1-50 at S0.98 16-25. Pound sterl- ing was down 7-10 at 17-20. In New York, the Canadian dollar was down 1-50 at Si.01 19-50. Pound sterling was down 3i at S2.31. Earnings Gold futures WINNIPEG 'CPi Gold futures. L" S. funds. Winnipeg Commodity Ex- change close Wednesday 400-OUNCE CONTRACTS: .Ian 75 183.05A. Apr 75 189.05A: Jly 75 195 OOA. Oct 75 200.00B: Jan 76 207 OOA Tuesdav's volume: 652 contracts. 100-OUNCE CONTRACTS: Nov 74 182.00A. Feb75 185.40A; May 75 192.00A: Aug 75 198.00A. Nov 75 204 00A. Tuesday's volume 359 contracts Gold prices LONDON 'APi Wednesday clos- ing gold prices in I" 5 dollars per ounce. Ijondon ISO 00 5'ans 1S5.22 Kranklurt Closed Zurich 184 no HORC Konp IS] .SI X.923 per kilo Metals IX1NDON i APi Monday closing metal? in pound MrrJme per mclnc silver in pence per troy funrt Spot 5J5-5SI. iuturcs Tin Spot 3. 140.3.] so. 3 3.W Spot fulurw 21S 5-220 Zinc Spot 333 fl.334 5 itrtures 33ft- 33fi .S Silver Spot iftfi 3 months By THE CANADIAN PRESS Alberta Natural Gas Co.. nine months ended Sept. 30: 1974. Sl.765.000. S1.48 a share; 1973. Sl.589.000. S1.33. Bell Canada, nine months ended Sept. 30: 1974. S177.000.000. S4.44 a share: 1973, S142.900.000. Burns Foods Ltd., nine months ended Sept. 28: 1974. 94 cents a share: 1973. S2.919.972. SI. 15. Dome Petroleum Ltd.. nine months ended Sept. 30: 1974. a share: 1973. 65 cents. Donohue Co. ltd., nine months ended Sept. 30: 1974. a share: 1973. 98 cents. Foodex Systems Ltd.. nine months ended Sept. 30: 1974. 33.1 cents a share: 1973. 27.6 cents. Fracana Oil and Gas Ltd., nine months ended Sept. 30: 1974. 71.9 cents a share: 1973. 11.8 cents Hugh RusscI Ltd.. nine months ended Sept. 30: 1974. S13.329.COO. a shire. 1973. Kilembe Copper Cobalt Ltd.. nine months ended Sept. 30: 1974. nine cents a share: 1973. 53 cents. Molson Companies Ltd.. six months ended Sept. 30: 1974. 93 ccntsa share; 1973. North Canadian Oils Ltd.. nine months ended Sept. 30: 1974. 24 cents a share: 1973. 18 cents. Northern and Central Gas Corp. Ltd.. nine months ended Sept. 30: 1974. a share: 1973. 46 cents. Quaker Oats Co.. three months ended Sept. 30: 1974. 41 cents a share. 1973. 27 cents Riley's Datasharc International Ltd.. year ended May 31 1974. 30 cents a share. 1973. S305.0W. 24 rents Trimac Ltd.. six months ended Sept 30 1974. 50 cents a share. S1.235.WO. 57 7 cents. I'nion nil Co. ol Canada Ltd.. nine months ended Sept 30 1974. 85 rents a share. 1973. 42 rents Voyager Petroleums Ud.. nine rnmths ended Sept 30 1974. SS57.000. 24 7 cents a share. 1973. 12 4 Ltd.. 197-1. Copprr Mines nine months ended Sept 30 7S cmls a share. 13 cents (Supplied bv Richardson Securities of Canada Anaconda Beth steel Cornel DuDont General VIcvio'S Gull Ini Harvpslt'T Kpnn CoPDPf Montgomery ETTOP Gull Co 1550 25 62' 575 2725 9275 30 871 1650 36 50 1625 45 12'; 58 50 i'6 25 2025 S62'; 1025 Westinghouse Elec US Steel 3662'.- Gen Tel Eiet TORONTO AVERAGES 20 Industrials 156 56 down ft 20 Golds 41S28 UD 6 68 10 Bsse Metals 62 31 down 89 15 Western Oils 124 46 down 1 13 Volume 774.000 MEW YORK AVFRfiGES 20 Industrials 61068 up 1 09 2D P.S'ls 14391 UD 50 15 utilities 65 82 flown 16 65 S1oc.k? 19752 UD 32 Volume 6 3PO 000 Feed prices W1XN1PKG iCPi WTieat board 'flnmesti'C ioed pnrcs Wednesday 3 OV red sprint w'beal No 1 lec-d barley 3 1 leed oats 2 no Beef futures TV f o1 ures olnsc Wednes Nov S] 30. -Ian May 4 Tur-.dsy s volume Live Mi OO.A Marrh ronlrarls Dividends By THE CANADIAN TRKSS 'Corporal'''" -dividends, un- less otherwise nolrd Opital Lid., .vrvpn rents. 13. record Nrrv 2S> DrHirtd Ud... pld M-nrs B. MSB. Dec 1. record Nov 20 Corp. Lid.. 2'i ocnts. Drr 13. record NOT 25 Farmers onO TTOM. live rents. Dec 31. Tc-ord Dec 17 FiJrtriJie Tractor md Fxpiipmrni Idfmts. fnor rents. Dtr -6. record 75. The Ixnrislana I jmfl and 2P. 1 s inrrea.oe rf two ITT nm i Ltd.. 15 rents. to Faiconbridge Nickel to Eraser B Vz to Bow Valley to and Shell Canada to Fraser A rose 1 to and Noranda A Vt to Gibraltar lost to Mattagami to and Faiconbridge copper to Siebens dropped Vi to and United Canso to Skaist up at .16. Northair up .06 at Jl .85: Balfour up a half cent at .24; QC Explorations unchanged at .10; Gran- dora down .01 at .42. On the curb exchange Host Ventures up 02. Mark V up .05 at Olym- pian unchanged at .34: Cedar City up 01 at .45; Matador unchanged at .07. Dasher up .03 at .34. NEW YORK (AP) The stock market bounced erratically in a narrow range today, registering no clear-cut reaction to the U.S. Justice Department's antitrust action against American Telephone and Telegraph. The noon Dow Jones average of 30 in- dustrials was off .94 at 608.65, and losers retained a slight lead over gainers on the New York Stock Ex- change. At the American Stock Exchange, the market-value index was up .13 at 64.27. The NYSE's composite common- stock index also posted an advance, rising .05 to 36.08. In Canadian issues on the New York stock exchange. Dome Mines gained 1 (o and Massey Ferguson was un- changed at International Nickel fell 3-8 to "s. Mclntyre "i to Alcan to and Canadian Pacific 'A to S13. Bank of Alberta proposal to be sent to the Senate EDMONTON (CP) A proposal to establish a Bank of Alberta' will be re-activated and presented to the Senate, says city lawyer Robert Matheson. After presentation by Sen. J. Harper Prowse, it will be taken to the House of Com- mons as a private members bill, probably this spring, he said. The bank was originally proposed in 1967 by Edmonton businessman Dr. C. A. Allad. who said at the time it would absorb at least one and perhaps several Alberta com- High feed grain prices causing hog industry slump CALGARY (CP) The high cost of feed grains and an out- dated grading system for pork is causing a slump in the Consumer price rise continues Winnipeg grain WINNIPEG (CP) Prices weaken- ed in moderate trading at mid-session today on the Winnipeg Commodity Ex- change. The downward trend reduced the major gains of flax in early trading and pushed many other grain prices down slightly below previous close levels. Wednesdays volume of trade was 1.886.000 bushels of barley, of rapeseed. of feed wheat, 978.- 000 of rye. 956.000 of oats. 628.000 of flax and 105.000 of corn. Mid-session prices: Thunder Bay rapeseed: Nov. inac- tive: Dec. four cents lower 8.77A; May one higher 8.86A; July inactive. Vancouver rapeseed: Nov. 1% higher 9.11A: Jan. 4'i lower 8.99B; March one lower 8.85B; June higher 8.65B. Flax: Nov. inctive: Dec. 12% higher 10.38: May six higher 10.54; July two higher 10.47A. Feed wheat: Dec. one lower May 1'i higher 3.91; July inactive. Montreal corn: Dec. two lower 3.85A: March three lower 3.95; May three lower 4.02; July two lower 3.93A. Barley: Dec. unchanged 3.0434B: May lower July one lower 3.14A. Oats: Dec. lower May higher 2.01A; July inactive. Rye: Dec. 714 lower 3.04B; May 23'4 higher 3.20ViA; July one higher 3.16B. Grain quotes Wednesday WASHINGTON (Reuter) Food and other consumer prices in the United States continued to rise in October but at a slightly slower pace than in the two previous months, the labor department reported today. It said the consumer price index was up 0.9 per cent dur- ing the month after allowing for seasonal price fluc- tuations. That followed increases of 1.2 and 1.3 per cent in September and Oc- tober, respectively. Consumer prices have jumped 12.2 per cent over the last 12 biggest yearly increase since a 12.6- per-cent gain in 1947. Food prices, which normal- ly decline in October, rose 1.3 per cent, reflecting increases in the prices of cereal, bakery products, sugar and sweets. Dairy products also increased slightly. Meat and poultry prices, however, fell by one per cent during October following two consecutive months of gains. There also were increases in the price of new and used cars, fuel oil, gas and electricity, medical services and mortgage costs. Alberta hog industry, says Dave Frunchak of the Alberta Hog Producers Marketing Board. Mr. Frunchak, owner of a pig farm east of Edmonton, told the Calgary Branch of the Consumers Association of Canada here that hog produc- tion in Alberta is expected to drop to 1.5 million animals this year from the annual average of 1.6 million. Unlike cattlemen, who can put their beef herds on grass to cut down on feed costs, the provinces 26.000 pig farmers must feed hogs cereal grains in order to produce lean meat. PACKER BLAMED He said the packer, not the producer, is to blame for the high cost of pork to the con- sumer. While prices at the wholesale and retail levels have increased, the return to hog producers has decreased. Last June, the price paid to the producer was per hundredweight, down from in June, 1973. Mr. Frunchak said the national pork grading system, the standards set in 1968 by the federal agricultur department, is outdated and costing hog producers money. The standards set the ideal maximum weight for a dress- ed carcass at 180 pounds, but Mr. Frunchak said recent studies have indicated that larger hogs can be produced to yield lean meat. The Canadian Pork Council and the federal government have agreed that the stan- dards should be relaxed to 199 pounds, but packers are op- posing any move to increase the weight limit, he said. panics presently engaged in the near-bank business. Dr. Allard says his narnc is on the new petition, but he is only one of a group. As you know, the rules un- der which a bank is formed now preclude any individual from controlling it. Mr. Matheson. a newly- elected alderman, and his brother Doug both appear as petitioners and are acting as spokesmen for the group promoting the bank. The province of Alberta is maturing and banking in- stitutions are much more realistic in the affairs of the country than when the original proposal was made, said the lawyer. Provincial treasurer Gordon Miniely said thp government encourages Albertans to compete in the provinces financial en- vironment, but the govern- ment was not involved in the bank proposal at present. Banks slice lending rate MONTREAL (CP) Four Montreal-based banks an- nounced Wednesday reduc- tions in both prime lending rates and interest on non- chequing savings accounts. The Banque Canadienne tionale. the Banque Provincial du Canada, the Bank of Mon- treal and the Royal Bank of Canada said their prime lending rates will be reduced today to 11 per cent from ll'z per cent. The base rate for small business loans will also be lowered to lOV-i per cent from 10V2 per cent. Interest paid on non- chequing savings accounts will be reduced to 8% per cent from 9V4 per cent effective Dec. 1. INDEX IS TWO TORONTO (CP) Air pollution index, based on sul- phur dioxide and floating par- ticles, at 4 p.m. was two in Toronto, seven in Hamilton, 11 in Sudbury. one in Welland. 16 in Windsor and six in Niagara Falls. Under the index, which measures two of the many air pollutants, any reading below 32 is considered acceptable, over 100 serious. Flax m I Mav (CP) Rapeseed Bay 873 Art Phillips was elected Wednesday to a r> c' r'. i processing V3C stems Dec May 885 two year term but his percentage of total votes 4th Avenue South, reduced from the cent he received in Jan Mar 886 881% Vz 105 of the 126 polls counted late Wednesday O9 W eJLJata Phillips, running for mn in about 47 per cent of the J'y with 31.221 votes, Dec Mav 317H 8.000 ahead of runner up George Puil, who got 35 per cent of the vote running 3750 Oats civic non completed spacious bi-level two The 44 year apartment unit, featuring private Jly" -Com polled yard area, balcony, colored Dec carpet throughout. Monthly P. Mav OF pay rent when you can be an Feed Crawford Street Dec "-'4 Providence. R.I.. has Particulars Phone width of 1.147 THE ALBERTA GAS TRUNK LINE COMPANY LIMITED Class "A" common shareholders of record November 7. 1974 have been mailed rights to subscribe for additional shares on the basis of one new share at S9 00 fo- every five shares held Rights expire November 29. 1974. We believe thai the Class "A" common shares o? Alberta Gas Trunk Line are attractive for cap'ial growth and income. We recommend that shareholders increase their investment in the Company through the exercise of their rights and consider the purchase and exercise of additional rights Those who do not presently own Alberta Gas Trunk Line shares may regard the current rights offering as an excellent opportunity 1or initial commitment Representatives in any of our offices would be pleased to provide further information or assistance m subscribing and buying or selling rights. We are managing a Soliciting Dealer Cwup iormed for ifin purpose of facililal-.q Jhc exercise of rights. Members of the Croup, including ourselves, will be compensated by Gas Trunk Line in respect of shares subscribed through them. DSH DOMINION SECURITIES CORPORATION HARRIS PARTNERS LIMITED V DMTS! AI YC'f 1 I' J, v QUiEir ;