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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 23, 1974, Lethbridge, Alberta 24 THE LETHBRIDGE HERALD Saturday, November 23, 1974 Oil shares lead third successive dip By SANDRA INGALiBE The Canadian Press Canadian stock markets found more bad news than good in the long awaited ftderal budget this week and led bv oil Chares headed lower for the third in a row However the budget was not entire Iv to blame for the sharp deUme said The New 'V.ork market team proved to be an important influence as it translated economic Aornes into lower prices The budget confirmed the worst fpars of investors in shares of oil mm tng and gas companies Re introduced from the Mav budget was a proposal prohibiting these companies from deducting provincial royalty mints in computing federal income taxis Industry officials criticized the measure as double taxation and said it would severely limit capital available for exploration and development Toronto s western oil index fell 20 49 to 120 84 lowest close since Julv 1970 and the base metal index 4 11 to 62 48 the index Thursday touched a 12 year low Golds fell 39 71 to 420 13 The industrial widelv based ra o renc1 was off a 76 la! index fell v index o- JT 1 the o nc a and 'eaeral >OT> on taxation na oxer all impact o: ine budeet on the should neutral to slightly positive lax for individuals could benefit consumer-oriented stocks and tax free interest and dividends to a total of 000 will attract interest in high -tocs-s thev sav The New "i ork market rallied Fndav in technical factors anu news of another cut in prime rates by some banks but it was lower on the week The Dow Jones industrial average fell 32 32 to bio 29 Observers say worries about reces sion and inflation and uncertainty about oil prices and supply are holding down the market trading was light at loronto this week with U 02 million shares chang ing hands for a value of (n million compared with 9 54 million and 68 million last week At Montreal b32 million shares were traded this week compared with I 19 million last week Value of shares traded was 17 million compared with 77 million olume and value figures on both ex changes include a total of five million Price Co shares at a share tendered under an offer by Abitibi Paper Co Stocks close TORONTO Toronto stock market was lower at the close of active trading Friday Home Oil B fell 2J4 to Aquitame to Interprovmcial Pipe Line 1'j to S11J4 Home Oil A to SlB-'j and Trans Mountain Pipe 1 to Noranda a rose to Abitibi 1 to Sll Price Ji to Inco A 38 to and Bell Canada to S425s MONTREAL (CPl Prices were generally lower in heavy trading on the Montreal Stock Exchange Friday olume at the close was 3 370 200 shares compared with 348 700 shares at the same time Thursday While papers rose 277 to 10425 utilities fell 145 to 11759 the com DOMte 94 to '3436 industrials 88 to THE STOCKMAN'S MARKET SELECTED Simmental Sale Mon., Nov. 25th 150-HEAD-150 V2 Blood Females Bred and Open HOGS SELL Tues., at 1 p.m. 3 Dairy Cows Baby Calves Sheep Market Hogs Shipped Daily Live Weight and Dressed Basis EVERY Wi IN NOV. SPECIAL RANCHERS' CALF SALE Wed., Nov. p.m. 1000-HEAD-1000 TOP QUALITY RANCH CALVES YEARLING FEEDER AND FAT CATTLE AND CALVES Thursday -1 p.m. YEARLINGS and MIXED CATTLE Southern Alberta CHAROLAIS OPPORTUNITY SALE Fri., Nov. 29, 1 p.m. 150Charolai8 Purebred and Percentage Cattle Selected Blonde D'Aquitaine Sale Mon., Dec. 2, 1 p.m. PUREBRED BULLS AND FEMALES Plus Open and Bred Percentage Females SOUTHERN ALBERTA MAINE ANJOU SALE FRIDAY. DEC. 6- 1P.M. 100 Anjou Purebred Built end FemaWe, Bred and Open Percentage Quality Maine Anjou Cattle from Southern Alberta COWS BRED EXOTIC SALE Fri., Dec. 20. 1 p.m. bred lo Maine Normandy Blonde D Aqultaine Simmental. Brown GelbYieh. Salera. Teren- and NO CLEAN UP BULLS LISTINGS INVITED: All Sales Conducted by PERLICH BROS. AUCTION MARKET LTD. Located In Hub of Southern Alberta Livestock Indudry 3 ent of Leinbrldge on Highway 3 and v. BOX 1057, LETHBRIDGE T1J4A2 Phone Day or Night 329-3101 OUR NEW PHONE NUMBER 329-3101 Company License No. O71469 AUCTIONEERS: lao 85 and banks 19 to 215 88 Home Oil A fell to Trans Mountain Pipe Line to InterproMncial Pipe Line 1J4 to SllVi Gulf Oil Canada 1 to Imperial Oil A to '2 and Pan Ocean Oil to Abitibi Paper rose "4 to MacMiIlan Bloedel to Cana dian Javelin 3-, to Domtar 3s to S203s and Price '2 to S12'z Among speculative issues North American Asbestos rose three cents to 45 cents after trading 11 000 shares VANCOUVER ICP) Prices were up in light trading on the Vancouver Stock Exchange Fridav Closing volume was 1 017 627 shares In the industrials Imperial A was unchanged at 50 on 11 000 shares Canadian Javelin was up 7o at 00 on 3 300 shares EDP Industrials was un changed at 07 on 2 000 shares Block Bros was dowti 10 at S3 30 on 1 100 shares Wardair was unchanged at 05 on 1 000 shares Portcomm was unchanged at 28 on 1 000 shares In the mines Grandora was down 03 at 32 on 250 000 shares Skaist was un changed at 22 on 102 000 shares Sonesta was up 02 at 27 on 96 900 shares 06 at SI o3 on 43 900 shares DRO Mines was unchanged at 12'2 on 33000 shares Green Eagle was up 01 jt 11 on 23 000 shares In the oils was up 02 at 60 on 37 233 shares Coseca was up 09 at SI 39 on 6 200 shares Cop Ex was down 01 at 13 on 5 300 shares Earlcrest was unchanged at 02 on 5 oOO shares Seneca developments was down 05 at 6s on 3 300 shares Pajette was unchanged at 16 on 5 000 shares Closing volume on the curb exchange was 606 383 shares Most active of the curbs was Tapm Copper up 17 at 60 on 2-12 aOO shares Dasher was up 05 at 41 on sO oOO shares Mark V was up 10 at SI 20 on 30 700 shares Host Ventures was up 01 at 28 on 27aOO shares Cedar CiH was unchanged at 50 on 24 jOO shares Abaca was unchanged at 38 on 000 shares NEW (APi The stock market oroke a chain of eight consecutive losses Friday but the up swing Aas restrained bv continued coal strike and rfcession worries The Dow Jones industrial average closed UD 6 73 at 615 30 Among (anadian issues on the stock exchange Dome Mines gamed M close atSaO'-z Alcan 2 to S20'2 and Mcfntvre 'z to International was up '4 to S2'' i while Canadian Pacific was un changed at SH1 andSeagra satSSF, Hiram Walker was down B to i and Masse> Fergusjn to S12 i Dollar value (CPi L S dollar in terms of Canadian funds at Fndav was up 3 50 at SO 98 21 25 Pound sterling was up 6 25 at 29 14-2D In "Sew York the Canadian dollar was down 7 100 at 01 17 100 Pound sterling was up 1 10 at 32'4 Metals LONDON 'APi Closing metals Fnda% in pound sterling per metric ton sil.er in pence per trov ounce Copper Spot 592 futures 613-614 Tin Spot 3 180 futures 3 165- 3 170 lead Spot 227 227 T futures 218 218 T 7mc Spot nT-TO 335 5 336 Silver Spot 1838184 3 months 189 2 !89 8 The Herald- Business Ottawa Winnipeg grain I PI Prices were generally mixed in hean actniU Fn on the Winnipeg Commodity Ex change After a sluggish open some com modities surged at the close to end the with major gams Thursday s volume of trade was 1 363 000 of feed wheat 565 000 of oats 2 477 000 of barlev 40 000 of corn 712 000 of rve 421 000 jf flax and 2 030 000 of rapeseed Closing prices Thunder Bay rapeseed Dec five higher 8 66B May 14 higher 879A July five lower 8 4aA Vancouver rapeseed Nov 20 higher 914 Jan 174 higher 9 02B Mar 17 higher 8 83 June I9a4 higher 8 69 Flax Dec 30 higher 10 4aB Mav 30 higher 10 59B July 27 higher 10 47B Corn Dec two higher 3 80 Mar one higher 3 91 May 10 higher 4 05 Julj two higher 3 90B Barle> Dec three lower 2 May 2'z lower 306 Jul} one lower 305B Oats Dee l'i lower 1 953.i May one lower 1 97 Julv unchanged 1 98 Rye Dec "j lower J 00JjB Ma> PJ lower 3 July '4 lower 3 Chicago markets CHICAGO (AP) Wheat futures gamed 11 cents a bushel on the Board of Trade Friday but other farm com modities closed on an irregular tone after trading in a deficit area through most of the session The uncertainty in the soybean com plex and in wheat and oats was a result of some late spreading activity in which traders bought one option and sold another This caused a somewhat lopsided price situation but normal At the close soybeans were 4V2 cents a bushel lower to 7 higher Jan 7 37 Chicago wheat 4'2 to 11 higher Dec 4 72 -z corn unchanged to higher Dec 3 48 and oats 3 lower to 3 higher Dec 1 6834 Grain quotations Friday Wheat Dec 472'2 Mar 492 May 4 95 Jul 4 BD Sep 4 72 Dec 4 80 Corn Dec 348 Mar 3 06'2 Ma> 363 Jul 363 Sep 3 a2 Dec 319'z Mar 3 24 Oats Dec 1683, Mar 173 May 1 7o JullTS'z Sepl72'2 Decl70'2 Bonds GOVT OF CANADA BONDS 5 2% Oc' 8% Jul Sept Sept 3% Sept 15 P 6 2% Apr Jul 9865 101 75 SO 23 7200 3700 9970 10003 9875 10225 8050 7400 3900 10000 PROV S PROVINCIAL GbARANTEED BONDS Alia Ont Ont H NB 9 NS Oue Alta 8 Man H Sask Nfld 9 Alta Gas 9 Alcan BC For BC Tel Bell Tel 9 Bell Tel CP Ltd CP Sec CU Intl Corp9 CWNG Inter Pipe Massey Noranda 9 Intl Nickel 9 NSC Gas 9 Steel 9 T Cda Tr Cda Pipe West Trans Acklands 7 Alta Trunk 7 Con Gas Scur Rain 7 West C 5 West Tr 7 IAC JOE PERLICH tic 010293 PICTURE BUTTE AUCTION MARKET Ideally located In centre of a large cattle feeding and hog railing country CALF SALE Tuesday, Nov. 26 1 p.m. and every Tuesday thereafter 400 Held of Top Quality Ranch Cilves 400 HEAD RANCH CALVES FEEDER AND FAT CATTLE Wed., Nov. p.m. All Classes of Cattle HOG and DAIRY CATTLE SALE EVERY SATURDAY at 1 p.m. MARKET HOGS ASSEMBLED MONDAY THRU FRIDAY BOB BALOO Lie 087454 TONY PEPLICh Lie 010792 Tracking Government Brsndirfw Veterinary Vaccmattng Service Order Buying Feeding Pens to- Inform-anon and lutings Contact JIM or JOE JURIS Butle Auclion Butte Albertn marvel locflied 16 north o1 on Higriwdy I 732 PICTURE BUTTE Grain q u o t e s Friday Lakehiadi High 1 s i s llOM Rapt. "4 Corn (basis Feed V2 Gold futures WINNIPEG (CP) Gold futures U S funds mnipeg Commodity Ex- change close Friday 400 OUNCE CONTRACTS Jan 75 186 00 Apr 75 192 10 Jly 73 197 7iB Oct 7o 203 70B Jan 76 208 50B Thursday s volume 516 contracts 100 OUNCE CONTRACTS Nov 74 183 90A Feb 7o 189 30 May 75 195 25 Aug 75 199 OOB Nov 75 203 OOB Thursday s volume 2o9 contracts Gold prices (AP) Closing gold prices Friday in U S per ounce London-183 00 Pans-184 61 46 Zunch-ie'i 5 Hong 99 Beirut-CLOSED Egg prices EDMOYim (CP) Weekl} egg and poultry report issued b) the federal agriculture department Fndav EGGi To producers A large 73 A medium 70 A small 50 B 33 C 18 cracks 27 To retailers A large 8a to 90 A medium 84 to 89 small 61 to 69 (Three cents extra in cartons) To con sumers (n cartons I A large 86 to 98 A medium 79 to 96 A small 75 to 79 POLLTRY To producers Live 1 chicken Broilers 35 Sandoyer 40'z sandun der 6 34 Foyyl Lnder 4 4 to 6 Turkey Lnder 12 40 12to 18 40 over 18 Wz Liye No 2 chicken 6 and over 36'z and under 6 31 Turkey Imder 12 37 12 to 18 37 over 18 36'2 01 1AWA (CP) of slaughter cattle jnd cjhc-s ul mm public stockvardj, tins week totalled 2btf25 up J75 the ftdc-nil agriculture department said hnday feeder cattle and calves totalled