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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 22, 1973, Lethbridge, Alberta Toronto stock prices register slight gains TORONTO Prices on the Toronto stock market were fractional- ly higher in light mldnioming trading today The industrial considered the major indicator of market rose 18 to 219 base metals 1 13 to 100 00 and western oils 2 32 to 269 09. Golds fell 1 81 to 288 95 Volume by 11 a.m was shares compared with at the same time Wednesday. Advances outnumbered declines 149 to 87 with 169 issues unchanged Oil paper and pipeline and utility stocks were among sectors of the market recording gains while real chemical and real estate issues were lower Toronto Star B rose to West- coast Transmission H to Dome Pete to Canadian Utilities Vi to and Great Lakes Paper Vi to Budd Automotive fell E-L Financial to Inco Vi to Bank of Nova Scotia to and Marlborough Properties Vi to SUM Roman Corp. gained 1 to Denison Mines 1 to and Labrador to Tara lost Vi to Great Canadian Oil Sands was up to and Asamera Vi to Lassiter Kuma supped three cents to MONTREAL Prices moved higher in light trading on the Montreal stock market today Combined volume on the Montreal and Canadian stock exchanges at 11 a m was 288.700 compared with at the same time Wednesday. Papers rose 1 10 to 137 in- 73 to 248 the composite 65 to 230 utilities 60 to 143 20 and banks 09 to 275 30 On the Montreal Stock Westcoast Transmission rose to Dome Petroleum to Dofaseo to Pancanadian Petroleum to and Inter- national Nickel to On the Canadian Stock Exchange Gaspe Quebec Mines rose nine cents to 25 on 59.500 shares traded Chicago markets CHICAGO Farm commodity futures again closed on strong tones but prices of other commodities were relatively uneven soybean meal and oil futures closed with limit gains on the Board of Trade and wheat and corn also were stronger Oats came under late profit-taking Live cattle and hog futures on the Mercantile Exchange showed some early then it dissipated and the two pits closed on a mixed tone Pork belly futures also were but shell egg futures gained up to 170 points The three commodities in the soy- bean complex again were in strong de- mand on the but there was some selling activity after the buyers had stepped aside Export buying and the weather in- fluenced corn prices and these became locked at the top around midsession There was some profit-taking at the close which produced some trimmed gains Oats fell also at the under profit-taking Wheat turned un- even in late selling The irregular closes in hog and cat- tle futures were attributed to some in- decision on whether marketings will increase or if demand by housewives would improve after the Thanksgiving holiday today Gram quotations Wednesday Wheat Dec 4 Mar 4 May 4 Jul 3 Sep 3 76 Corn Dec 2 Mar 2 May 2 Jul 2 Sep 2 76. Dec 2 Mar 251 Oats- Dec 1 Mar 1 35 May 1 Jul 1 Sep 1 Metals LONDON Closing metals bid-ask m pounds sterling a metric ton silver in pence a troy ounce 900-982. futures 871-873 Tin-Spot 2 380-2 385 futures 2 361- 2636 200-201 futures 201-202 futures 598-600 Silver-Spot 1175-1178 3 months 120 9-121 VANCOUVER Prices were up Wednesday in light trading on the clow of the Vancouver Stock Ei- Volume wu On the Cornat In- dustries fell .14 to 14 70 on a turn over of shares Speculators Fund was at Si 10 on shires. Block Brotlwn was up OS at 13.40 on shares Neonex rose .06 to C 90 on shares Grouse Mountain was at and Mercuna fell 07 to M Most active issue in the mines was up 04 at on shares Cop-ex Mining was up 01 at .43 on 000 shares Gold River was up .03 at on shares. Accent Resources was at 24 on shares Silver Standard rose 03 to and Consolidated Standard traded at' 06 In the Seneca Development was up 02 at 09 on shares Princess was at 32 on shares. Chapparal was at 08 on shares Concept fell 05 to 90 on shares Stampede OS at 75 and Williams Creek gold was down 02 at 18 NEW YORK After one false the stock market cwme back from two days of severe losses posting solid gains in heavy trading thwt brokers said was spurred by technical factors. The Dow Jones average of 30 in- dustrials closed 10 OB points higher at 854 W. Within the first hour of the blue-chip indicator had advanced more than 17 only to pull back to its opening level by 11-30 a m Volume on the New York Stock Exchange was a heavy 24 26 million shares. The NYSE index gained .60 to S3 20 Among Canadian issues on the New York Dome Mines gained 1V4 to International Nickel also to Mclntyre to Alcan to and Massey-Ferguson Vt to Seagrams lost to Hudson's Bay to Canadian Pacific to and Genstar to Hiram Walker was unchanged at Winnipeg grain WINNIPEG Rapeseed con- tinued trading at stronger price patterns today at mid-session on the Winnipeg Commodity Exchange Flax also worked higher from the opening posting prices up the dai- ly limit in December futures Rye made slight advances in an easier com- mission house and exporter business while oats and barley were mostly inactive Wednesday's trading volume was 818.000 bushels of of oats. of 1 of rapeseed and of rye Mid session prices Flax Nov not Dec 30 higher 1080 May 21 higher July 15 higher 9 77B Rapeseed Vancouver Nov. 11 Vi higher 5 Jan 11V2 higher 5 March higher June HYz higher 5 6PAA Rapeseed Thunder Bay Nov not Dec 1 higher May 3 higher 5 22B. July unchanged 4 99B Oats Dec not May 1 higher 1 July higher 1 53B Barley Dec May and July not open Rye- Dec 2Vi higher 2 May 3 higher 2 July 1 higher 2 Grain quotes Wednesday Lakehead High Low Flax Nov 10W 108S Dec 1050 1033 May 982V4 970 Rapeseed Vancouver Nov 551 Jan 550 Mar 556V. 543 Jun 553 547 Rapeseed Thunder Bay Nov 503 499 Dec May 520 519 Jly Oats Dec 170 164 May Jly Barley Dec May Jly Rye Dec 267Vi May 278V4 272V4 Jly 269 basis 1066 1050 981 962 558 V4 557 554 550 502 503 519 499 169 156 251 Vi 256 257 Livestock Lethbridge DAILY MARKET REPORT Wednesday sales 233 205 95 lambs Receipts mostly slaughter cattle Trade active Slaughter steers meeting good demand Prices or more higher Slaughter heifers also meeting very good demand Prices 50t to 00 higher All classes of cows meeting keen demand Prices to 00 higher as compared to last week's close Bulls steady to strong The very few replacement cattle on offer selling generally steady SLAUGHTER CATTLE Steers A1-A2 4546 Heifers Al- A2 43-43 Cows D1-D2 32 75-33 D3 D4 28-34 Good bulls 36-37 85 Good feeder heifers odd sales good stock cows 33-35 50 odd sales higher HOGS AND LAMBS Butcher hogs sold Wednesday at the Lethbridge yards 53 15 base price Good lambs 50f at 35-35 50 Calgary CALGARY Receipts to 11 a m Thursday from the Calgary public stockyards totalled about mostly slaughter cattle and stock calves Trade was active Slaughter steers sold to a broad de- mand at steady prices Aland 2 heifers were scarce selling steady with sales to 44 10 Cows sold barely steady and bulls sold fairly steady to higher in spots Steers Al and 2 46-47 A3 43 50- 45 A4 42-43 50 Heifers Al and 2 43- 43 A3 41-42 A4 33-40 50 Cows Dl and 2 03 29 D4 25-29 Good bulls 4044 Replacements were mainly stock calves There were insufficient early sales of replacement cattle to establish a market A few -good stock steers calves sold steady Good stock steer calves more than 400 pounds 53-59 Hogs f o.b Calgary to 11 a m average base price 52 40 Earnings By THE CANADIAN PRESS Andres Wines six months ended Sept 30 1973. 001558 94 cents a share. 1972 95 cents Canada Machinery Corp Lid nine months ended Ocl 31 1973 profit 39 cents a share. 1972. J225.000 loss Fields Stores nine months ended Sept 30 1973. 851 cents a share. 1972. 472.000 65 2 cents Headway Corp. year ended Aug 31 1973. 482 47 cents a share. 1972 237 38 cents Manitou-Barvue .Mines Ltd nine months ended Sept 30 1973. profit 12 5 cents a share. 1972. loss 1 8 cents Mclntyre Porcupine Mines nine months ended Sept 30 1973 964 000 loss. 22 a share 1972 000 no per share figure Quebecor Inc year ended Sept 30 1973 487 000 18 a share. 407 000 75 cents JLjatatron OC Sstems 1003 4th AVMIIW Iwhbridot Ulephww Cervices VULCAN HARDWARE AUCTION SALE 1st ANNUAL STOCK REDUCTION Nov. 24th p.m. At the VULCAN LODGE HALL on Main Strvwt CMh fey of MM wNH Mr. Oerdcn Orr tmt fauBttllflllUBl IBrtlll CHILDREN'S TOYS SPORTING OOODS- hi Ml to dtor tor w rW ItlHPVri BwffVEPV 4. GIFT WARE GIFT SUGGESTIONS FOR 1NR. APPLIANCES- HOUSfWAHC- _ _ nr MOM mm TOO NUMMVS TO MDITIOII TAKE ADVANTAGE OP THIS GIANT WAREHOUSE CLEARANCE SHOP EARLY POR CHRISTMASI Hog prices EDMONTON Average prices to 11 am Provided by the Alberta Hog Producers Marketing board with Wednesday average in brackets Edmonton 52 60 Red Deer 52 45 Calgary 52 40 Lethbridge Nil Lloydmmster Nil Grande Prairie Nil Total hogs sold Wednesday average 53 09 Sows averaged 40 Gold prices LONDON Closing gold prices in U S dollars an ounce 19 Fiankfort-Holidav Zuricli-90 75 Hong Koig-90 81 Beirat-2.923 a kilo Dollar value MONTREAL U.S dollar in terms of Canadian funds at noon Thursday was up 1-2S at 37-50 Pound sterling was down 81-100 at 37 7-10. The market mNew York was closed due to Thanksgiving Day MONTREAL Thursday's mid-day foreign acfaange nominal selling rates supplied by the of Montreal Australia dollar China renminbl France franc financial OtO Germany mark Italy lira commercial 001730 Japan yen .003100 Switzerland franc 3180 United States dollar 10010 United Kingdom pound 2 41 USSR ruble 1 409B Quotations in Canadian Funds WINNIPEG Gotd U.S Winnipeg Commodity Ex- change close Wednesday JaA 74 II Apr 74 Jly 74 W Oct 74 M Jan 75 ISA Tuesday's volume. 17 flltUTtM WINNIPEG Live beef clote Wednesday Nov Mar- ll May-tt.OOB. Tuetday'i volume Eight Herald- Business Stocks Miscellaneous Montreal by McQuif WESTERN OILS AND MINES Afton Mines Albany Oil .86 Almlnex 7.15 Asamera 13.25 Ashland Oil 12.3714 East Gas 7 30 BP Canada 14.12Vi Brenda Mines 8 00 Can South 5.35 Cdn Ex Qas 4.10 Cdn Homestd 7.40 Cdn Ind Gas Oil 9 25 Cdn Long Is 20 Chieftan 11 25 Cdn Super 57.50 Dome Pete 38.00 Dynasty 1200 Fort Reliance 23 Giant Mascot 2 75 Gibraltar Mines 11.50 Granisle 9.00 Gt Plains 29.00 GtCdnOilS 1100 Lochiel 3 00 Lytton Mm 1.40 Noble Mines 95 North Cdn Oils 6 65 Numac 1650 Pancdn Pete 14.50 Pan Ocean 1750 Petrol 1.80 Pinnacle .20 Place Gas 55 Ponder 57 Ranger Oil 31.00 Scurry Rain 21.50 Seibens 15.50 Spooner .35 Total Pete 6 85 Ulster 120 United Can so 21 37V4 West Pete 6 75 West Decaita 7.40 MISCELLANEOUS INDUSTRIES Acres Ltd 11.75 Aquitame 25.12V4 BCSugarAPId Block Bros 3 35 Cdn Pac Inv A Pfd 32 25 Com Cap Corp 2.60 Carling O'Keefe A Ptd 25.00 Carllng O'Keefe B Pld 30 00 Crestbrook Ind 9.50 Crowsnest Ind 30 25 Falcon Copper 1275 F and M Trust 5 25 Genstar 18.00 Global Corn Unit 44.00 Home A 53 00 Home B 47 50 Hud Bay Co 19 00 Hud Bay Oil 45 50 Hud Bay A Pfd 53.00 Hugh Russell 51 50 Husky Oil 27 62Vi Husky B Pfd 42 25 Husky D War 11 37V4 Husky E War 12.87V4 Hys of Canada 3 60 Inter Prov Pipe 7 75 Inter Prov Steel 1325 Kaiser Res 4.90 Loblaw C Pfd 27.25 Magnasonics 7.50 Pacific Pete 34 25 Pac West Air 8 Pe-Ben Oilfield 6 25 Royal Trwt Sandwwll WMtCdnSMd WMtfWd Mln WMton A Pfd White Yukon 27 5.75 4.50 525 1.20 60.00 10.00 PIPE LINE STOCKS Alia Gas A 11.50 Alta Gat Pfd 66.50 Aria Nat Gas 17.50 Inland Nat Gas 9.37'A Gaz Metro 5 25 Gaz Metro A Pfd 67.50 N and C Gas 11 N and C B Pfd 22.25 Trans Can Pipe 33.75 Tr Can A Pld 62.50 .TrCanBPfd 3625 Tr Can War 6.50 WC Trans 22.50 WC Trans WtS 4.30 CALGARY Acroll .62 Barons Oils .02 N Continental 01V4 West Warner 30 VANCOUVER MINES Atlas Explor .30 Bath Norse 76 Dankoe 2.20 Davenport .35 Dolly Varden .20 Equltonal Res Lornex 10 50 Primer 09V4 Pyramid 13 Silv standard 1.10 Valley Copper 9.40 INDUSTRIALS Colum Brewing 3 00 Key Industries 15 Wardair 180 OILS PRP Explor .83 Plains Pete .23 Pond Explor .60 Stamp Intl Res .76 MUTUAL FUNDS All Cdn Com 6.73 7.32 All Cdn Dividend 714 .7.76 All Cdn. Ventures 3.60 3 91 Amer Grow F 5 04 5 54 AGF Spec 2 62 Cdn Invest F 5 06 5.57 Collect Mutual 5.59 614 Com Inter 1381 15.18 Com Leverage 341 3 75 Com Venture 6 36 6 99 Corp Invest 6.33 6.96 Corp In Stk F 5.17 5.68 Dreyfus F US 1078 11.81 Grt Pacific 474 518 Grpd Income 3 34 3 67 Grow Equity 744 8.18 Invest Grow F 1220 13.34 Invest Mutual 5.82 6 36 Mutual Accum 611 672 Mut Grow F 3 29 3 82 Nat Resources 5.00 5 49 NW Cdn 5.55 610 NW Growth 4.64 5.10 Pnn Growth 464 5.09 Royfund 678 712 Temple Grow 7.67 8 41 Unit Accum 4.90 5 38 Univer Sav 8 08 8.39 Unlvest 6.15 6.76 Vanguard 616 675 Toronto industrials by Richardson Securities of MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick NW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons Rambler Coin Lake Cochenour Craigmonl Dickenson Mines Demson Mines D'Eldona Dome Mines Discovery Mines East Malartlc East Sullivan Falconbrldge Frobex First Manhmes Giant Y.K Granduc Hollmger Hudson Bay Hydra Ex Iron Bay Iso Jollet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic G F. Martin McNeely Maclntyre Meta Mldnm Intern Mogul Nu West Homes New Athona New Calumet Noranda Northgate Norlex Pine Point Placer Dev. Pax Exp Quebec Rayrock Radiore Roman Corp. Sherrltt Gordon Steep Rock Tek Corp Texmont United Canso Western Mines W House Copper Mines Wright Hargreaves Willroy Windfall Yeiiowknlfe Bear Zenmac INDUSTRIALS Abitibi Atean Akjoma Steel Atco Ifid Jannock Agra Ind Bed Tel Brazilian Trac BCTel 12 1 25 1.12 1.60 .36 1 5 25 2 10 5 50 7.40 3.00 10 75 90 1.02 4.55 2 87 12 62 7 00 2 96 50.75 .39 1.02 92 345 2.51 71.75 23 67 8.25 3.65 45.75 2650 25 360 1.86 .2ivi 12.00 .30V4 45 00 2.73 .05 1.15 .80 15 57 .16 9.10 9.25 11 .25 51 37V4 4.60 .44 3675 2450 1.27 1314 .95 26 3500 1425 15.62Vi 2.03 3.60 21 Vi 21 25 3.05 3.05 .81 1.07 .11 'A 4.65 .06 12 00 20 6 12 40 25 5325 Burns BC Forest BC Sugar Bow Valley Ind Cable CAE Ind Carling O'Keefe Chemcell Cdn Cellulose Calgary Power Coron Credit CWN Gas Pfd Cdn Industries Cdn Marconi Cdn Vlckers Chrysler CPR Commco Cons Bathurst Cons Qas Dlst Seagrams Dominion Bridge Domtar Dom Textile Dom Stores Dome Pete Dofaseo Glen Mobile Grt Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie Imperial Oil imasca Int Nickel Int Pipe Ing Group A IU international Indust Accept. Kaps Kelly Doug A Laurentide Loeb Loblaw A Metropolitan Mass Ferg McMH Blood Moore Corp MoUons A Molsonf B North Centf Power Corp Price Co Rothmans Shell CDA Simpsons Simp Sears Steel Canada Selkirk A Texaco Traders Qrp A Trana Mtn Pipe Trans Can Pipe Union Carbide Union Qas Union Oil United Versatile Mfg W09MW Western A Wett Cdn Seed Zenith Bee Cdn Imperial Montreal Nova ScotU Royal Tor onto-Dom BANKS 20.50 18 3200 1675 420 5.50 2300 2.15 1050 1800 360 1625 15.75 36.00 2700 16 4200 36.00 22.75 925 1375 3775 8.75 10.75 51.75 35 1800 4.90 5375 43.25 19.00 2300 9.25 20.50 5.00 500 1075 435 34.75 5275 2325 2325 12.50 15 25 19 aoo 11.25 15.50 16.25 33.76 10.00 1550 5.55 18.2S 20.00 21.7S v 5.2S 3.20 2926 19 36.50 New by RtehardsM Senritto of TORONTO AVERAGES 20 219.90 up .33 20 Qoldl 289.42 down 1.34 10 Baee Metaft tt.M up 1.03 15 Western OHu 269.53 up 3.76 Volume Vttut States Meek tor MM ThaufcJjUlM betHay. Lady wheat champ Marilyn Lebsack of is winner of the 1973 Canadian National Challenge emblematic of World Wheat supremacy at the Royal Winter Toronto. Mrs. a mother of entered a variety of Chinook wheat to win over many other worldwide entrants. Presenting her with the CN Wheat Trophy is W. Douglas Canadian assisted by Claudette Laporte of Toronto. Prospects for economic growth shown in survey OTTAWA Industry Minister AlastairGillespie re- ported Wednesday a govern- ment survey showing prospects for strong economic growth in Canada next particularly in manufac- oil and gas production and commerce. The based on ex- pansion plans of about 200 large showed plans to increase spending on machinery and equipment by 21 per cent in and a 46 per cent jump in manufacturing alone. large projects for new steel chemical plants and pulp and paper facilities are features'of the manufacturing Mr. Gillespie said increases in spending are also planned by oil and gas companies and by those in the commercial his report said only industry in- dicating a lower level of spending in 1974 is mining where several very large pro- jects are nearing com- he aded. Mr. Gillespie said the over- all 2l-per-cent planned expan- sion compared with 15 per cent this and would be in line with very rapid of the mid-1960s. OUTLOOK BUOYANT expansion for 1974 is associated with strong current sales in Canada and abroad and rising profits as well as to a buoyant outlook for a contin- uation of favorable con- he added. Gov't to begin trimming 'tax shelters9 soon MONTREAL A To- ronto accountant said Wednes- day it won't be long before federal tax men start trimm- ing away available used by individuals and companies to minimize the amount of taxes they pay. Tax sheltering transactions are under constant review by the department of national Martin L. O'Brien told the annual conference of the Canadian Tax Foundation. will shortly be seeing a number of assessments issued disallowing claims for capital cost allowance or claims to deduct business or farming he predicted. There was a danger the fed- eral government might go to extremes in introducing In- come Tax Act amendments to curtail the use of such tran- sactions. Tax courts have approved tax minimization schemes Stock market commission rates hiked TORONTO Cana- dian stock exchanges will In- stitute their new schedule of commission rates Nov. it was announced Wednesday.' The commission is the charge a broker levies to buy or sell shares. The over-all result of the new schedule is to increase commission revenue of security dealers by 5.24 per cent. The new for ex- applies a base rate of' 2.5 per cent of the value of the trade to shares trading at and under. That meant that an investor buying and MUni shares hi that price ranfe win Kr a total of five percent for two transactions. Sue pop firm BOSTON The tar- tlet department has flttd a ISlft.OOQ anti trust suit afainit Cott Corp. of a processor and seller of soft drinks. The salt alleges that Cott made dis- criminatory promotional allowances to various food stores and such as tax shelters for he said. some interpretations had been based on a social theory that every man should pay his fair share of taxes. Mr.' O'Brien said tax shelters are used by taxpayers to defer payment of taxes to a later date under enabling legislation or to avoid them entirely. ability of a taxpayer to use such a shelter is depen- dent on the tax courts' at- titude toward tax minimiza- tion Mr. O'Brien said. Mr. Gillespie said' some firms were unable to carry out the lull extent of their planned expansion this year because of shortages of both labor and and effects of the railway strike. Some of these frustrated ex- pansion plans were being car- over into 1974 He said recently enacted tax concessions for corporations has also contribute. to the planned growth next year. from the survey sug- gests that the greatest in- creases in outlays for 1974 on new machinery and equipment will likely oc- cur in the Prairies and British Columbia. Growth in Quebec and the Atlantic region will probably be less extensive in COVERS MAJOR AREAS In another cautionary he said the survey covered only major area's of private business investment and did not include residential construc- governments and in- stitutions which usually ac- count for nearly half the total private and public investment in Canada. would appear likely that capital spending in these areas would advance much more he said. The report does not include possible spending on such ma- but still tentative projects as northern and western oil and gas pipelines. The 200 companies sur- accounting for about of Canada's total non-farm business cover manu- oil and gas including electric transportation and financial in- and real estate developers. Business and industry howling for workers EDMONTON Canadian business and industry is howling for more Robert president-elect of the X Alberta Chamber of said Wednesday. Although Canada is experiencing its highest unemployment rate since the its businesses and In- dustries are facing a severe shortage of skill- ed and semi-skilled he said. SUGGESTS SURVEY There should be a Canada-wide survey to determine the number of skilled workers in the country and the future Iv need for such people in industry and Mr. Chapman suggested. There should also be a series of talks among Canadian business and federal and provincial departments concerning manpower re- he said. The first meeting should be held soon. S Mr. speak- ing to a university- business workshop on educating manpower for later stressed that his .recommendations were personal opinions and not necessarily those of the Alberta Chamber of Commerce. Bank of BC assets up VANCOUVER The Bank of British Columbia showed growth in total tacts and In aU of ita opera- tion in the fiscal year ended Oct. to the federally-chartered bank's an- nual report. rote 30.2 per cent to from in the previous year. Deposits rose 33.3 per cent to S16 from Loam outstanding at the year end were up 31 per cent at from The bank's balance of revenue was up 63.3 per cent at compared with The bank's balance of profits was up 39.9 per cent from in the previous year. The bank has 23 all in B.C. ;