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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 26, 1973, Lethbridge, Alberta Winnipeg Stock Exchange fate causes concern WINNIPEG K. Bruce MacMillan be is worried about the fate of the Winnipeg Commodity Ex- change and farmers should be concerned too. Mr. elected ex- change chairman in mid-Octo- wonders sometimes whether the federal govern- ment is out to break the ex- change. The 325-member trading as- sociation which now operates from a building near Portage Avenue and Main Street traces its origins to the 1980s. It is the most important grain commodity exchange outside the United States but lately federal government ac- tions and hints have given it the shivers. Mr. a 49-year- old native of Winnipeg who has been a grain marketer for nearly a feels a crucial date may be Dec. 14. That is when rapeseed pro- ducers vote in a plebiscite whether they want to continue the free marketing system or try another approach. ONLY MARKET The exchange is the world's only market in rapeseed fu- a system that allows buying and selling of con- tracts for delivery at a future date. don't know whatltind of a system the government would Mr. MacMil- lan said. This has put the ex- change at a disadvantage in debating its case. would have to assume it would operate similarly to the barley and wheat op- erations of the Canadian wheat which means an initial payment and a pool at the end of the crop In addition to the exchange provides facilities for futures and cash trading in rye and along with live beef and gold futures. The wheat the only marketing agency for traditionally has been the sole buyer of oats and barley in Western Canada and the pri- mary seller. Mr. MacMillan said the open marketing system has served the rapeseed producer giving nun immediate cash payment on the day that he chooses to sell. no the decisions are all Mr. MacMillan said rape- seed represents only about one per cent of UK total oil and meal-producing crops in the world put Canada's rape- seed crushing industry is ex- panding. might have developed under a government-con- trolled system but I tend to doubt The producer's position under government pricing would be uncertain. The exchange has been look- ing into rapeseed oil and meal. are two natural out- growths of rapeseed. Rape- seed or soybeans tend to be a complex of three the which are oil and and the beans or rape- seed itself. are closely inter- related and complex types of markets too'because the in- teraction of oil and meal tends to determine the once of the seed Mr. MacMillan said there is nervousness among .young people about coming into a business that is so heavily controlled by government. The exchange has become weaker. seems that instead of be- ing looked upon with interest as something there is continual pressure being brought to bear to destroy The exchange operates on the accumulated experience of more than 70 years and you unwind this thing and de- stroy it's very difficult to ever build it up Mr. viewing the feed grains program that fed- eral cabinet minister Otto Lang has been outlining in re- cent fears the worst. can't help but believe that the Canadian wheat board truly intends to handle everything. They've got trans- oats and barley. There's no place for anybody else in the The exchange isn't taking this lying down. Production cost increase faces prairie beekeepers EDMONTON Prairie beekeepers have a honey of a problem and are buzzing about a suggested solution to the sharply increased production costs that face them next year. industry spokesmen in Alberta say the desire by eastern honey producers to keep westernx production costs high and maintain their market advan- tage may result in a battle over the proposed solution. Drop shown in world beef prices WASHINGTON Beef prices have dropped late- ly in 14 world partly because consumers have turn- ed to more chicken and other less-expensive the United States agriculture department said Sunday. put more pressure on supplies of pork and and kept prices near or above September the foreign agricultural service said in a report. the report food prices generally have shown erratic increases and declines the past two months and scure any clear in the cost of eating. Sirloin one of the in- had a 14-city median price of a pound in early compared with 92.76 in September. That means prices in half the dties were above those levels. Shoppers in D.C. paid g.Ot per poundfor sirloin in down from in September. as showed the highest price at 11141 pound for sirloin In down from in Sep- tember. Buenos Aires steak was the lowest cents a un- changed from the report snowed. In Brasilia paid 82 cents a pound for up from 74 cents two months Iter. Beekeepers in Eastern Can- ada manage to maintain their hives and colonies from year to year aided by milder winter conditions while Prairie producers must import new bees each year to replace those that can't survive the harsh climate. Last year Prairie honey pro- ducers imported to two-pound packages of bees from California at a cost of a package even U.S suppliers were not able to fill the demand. Next the California price is expected to reach a package and the possibility of getting bees from Mexico has been investigated. But while they could be ob- tained at about a federal import regulations would have to be changed. Legislation now provides that bees can only be imported into Canada from the U.S. or from New Zealand. The Canadian Association of Apiculturalists will discuss the Mexican import solution Nov. 26-27 at Toronto and there is a possibility they will recommend a change in the import rules. that meeting will be followed im-. Toronto by the annual meeting of the Canadian Honey Council and it is there that opposition is expected from the eastern producers. Hugh Alberta agriculture has written Eugene federal agriculture asking that consideration be given to issuing permits for Mexican bee imports and dis- cussions now are going on between the two de- partments' officials. Oil drilling industry busy Tex. The latest weekly survey by Hughes Tool Co. shows are drilling for oil in the United States and 330 in Canada. is no slack in the drilling said Travis a vice-president for the firm which makes drilling bits for the oil and gas in- dustry. Herald- Business Prices decline sharply Stocks Miscellaneous Montreal McQiuif WESTERN Trust 28 00 s AND Afton 4.35 Albany Cdn Seed 5.00 Mm 1 20 A Pfd 60 00 Yukon 9.50 Ana East LINE STOCKS DP Gas A 11.00 Brenda Gas Pfd Can Nat Gas 18.00 Cdn Ex Nat Gas 9 50 Cdn Metro Cdn Ind Gas Metro A Pfd 68.00 Cdn Long and C Gas 10.75 and C B Pfd 22.25 Cdn Super Trans 10.00 Dome Pete Can Pipe 34 00 Can A Pfd 62.87 Fort Can B Pfd 38.25 Giant Can Pipe War 6.40 Trans Trans Wts 4.00 Gt Gt Cdn Oil Lytton 62 Noble Oils -04 North Cdn Continental .01 Warner 52 Pancdn Pan Explor 33 Norse 77 Place 2.10 32 Ranger Oil Scurry Varden .20 Equltonal Res 1075 10 Total Pete Ulster 13 Silv Standard' 1.16 United Copper 9.50 West West Brew 3.10 Indus .15 1 75 Acres Ltd Aquitaine BC Sugar A Pfd Block Bros Cdn Pac Inv A 335 Plains Pete 22 Pond Explor .80 Stamp Intl Res .77 MUTUAL FUNDS Com Cap Corp Carling O'Keefe A Pfd Carling O'Keefe B Pfd Crestbrook Ind Crowsnest 25.00 29.75 31 Cdn Com 6 72 7 31 All Cdn Dlv 7.13 7 75 All Cdn Ventures 3 64 391 Amer Grow f 5 10 5.60 AGF Special 2 64 Falcon Copper F and M Trust Invest F 5.10 5.59 Col Mutual 5.64 6 19 Inter 13 79 15 15 Global Com Leverage 3.39 a 73 Home Venture 6.35 6.96 Home B Hud Bay Co Hud Bay 18.50 Investors 6 37 7.00 Corp In Stock F 5.28 5.80 Grt Pacific 4.61 5 04 Hud Bay A Pfd Hugh Russell Husky Oil Husky Oil B Pfd Husky D War Husky E 51.50 28.75 42.25 11 Income 3.35 3.69 Growth Equity 7 57 8.32' Invest Grow F 1219 1333 Invest Mutual 5 79 6 34 Mut Accum 618 6 79 Mut Grow F 3.28 3 61 Hys of Resources 5.06- 5.56 Inter Prov Cdn 5.54 6 09 Inter Prov Steel Kaiser Growth 466 5.12 Prln Growth 4 74 5 20 Loblaw C Pfd Magnasonics Pacific 7.50 689 717 Temple Growth 7.62 635 United Accum 4.91 5.40 Pac West Savings 8.23 9 06 Pe-Ben Oilfield Ser Rainier 610 671 Vanguard 6 07 6 65 Toronto industrials by Richardson Securities of MINES Acme 12 Advocate AsB 1 30 Akaltcho 1 09 Bralorne 1 SO Broulan .41 Bethlehem Bovis 2.15 Brunswick 5.25 Can. NW Land 730 Canada Tung 3.15 Casslar Central Pat .91 Cnimo 1.00 Conwect 4.50 ftambler 2.85 Com Lake Cochenour .61 Craigmont 6.80 Dickenson Mines 3.10 D'Eldona .38 Dome Mines Discovery Mines 13 East Malartic 345 East Sullivan 2.50 Falconbrldge 67.00 Frobex .23 First Maritimes .70 Giant Y.K. 8.25 Granduc 3 70 Hollmger 45.50 Hudson Bay 2650 Hydra Ex .25 Iron Bay 3.55 ISO 1.80 Joliet Quebec .22 Kerr Addlson 11.75 Key Anacon Labrador 45.00 Lake Shore 2-73 Langis Silver 04 Madsen R.L. 1.15 Malartic Q.F. .80 Martin McNeeiy .17 Maclntyre Mela Midrim .16 Intern Mogul Nu West Homes 9.00 New Athona .11 New Calumet .25 Noranda Northgate 4.M Norlex .41 Point 37.00 Placer Dev Pax Exp. 1.25 Quebec Man Rayrock .98 Radtore .28 Rio Algom 35 75 Sherrin Gordon Steep Rock 1.91 Tek Corp. 3.65 Texmom .21 United Canto Wwtern Mlnw Ktt W House Copper 3.10 Wright .83 WHIroy 1.05 Windfall YeHowknife Bear 4.00 Zenmac .08 INDUSTRIALS Abitibi 11 Alcan 35.75 Algoma Steel 19.75 Atco Ind 15.00 Jannock Agra Ind Bell Tel 40 50 Brazilian Trac 18.25 BC Tel Burns BC Forest BC Sugar Bow Valley Ind Cable CAE Ind Carling 0 Keete Chemcell Cdn Cellulose Cal Powtr Coron Credit CWN Gas Pfd Cdn Industries Cdn Marconi Vickers Chrysler CPft Comlnco Cons Bathurst Cons Gas Dist Seagrams Domin Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mobile Grt Cdn Oil Sands General Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie imperial Oil Imasca Int Nickel Int Pipe Inv Group A IU Internal Indust Accept Kaps Kelly Doug A Laurentide Loeb Metropolitan Mass Ferg McMil Blood Moore Corp Motsons A Mortons B Nachurs North Cent Power Corp Price Co Rothmans Shell Cda Simpsons Simp Sears Steel Canada Selkirk A Traders Qrp A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Slscoe versatile Mfg Westons Woodwards A West Cdn Seed Zenith Ekw Cdn Imperial NovaScoiu Royal Doffi BANKS 52.75 15.50 2000 1950 31.25 8.75 4.05 525 5 87Va 2350 18 12V4 10.75 17.00 3.50 1600 18 1537VJ 36 25.00 1575 4200 3700 2275 1325 38.00 28.50 8.75 1225 5050 2300 32.37V5 18.50 4.85 53.00 3000 41 2850 32 87Vi 22.75 9.00 20.12V4 1737Vi 500 10.50 455 11.37V4 3400 5275 2250 2325 12.50 10.75 11.62V4 15.50 1500 800 27 15.50 48.50 16.37 3400 1800 975 15.75 5.2S 6.50 17.50 2050 21.50 5.00 3.00 28.75 19.25 3775 3575 New York by Richardson Securities of Arm T4T Comsat Oupom Mown Quit Kenn. Copper Montgomery Ward Exxon TtxM Quit Ttxtl Co' wta 44.80 lM.S7Vf so.aa 2128 25.00 36.26 21.00 8826 27.7S 1SS2H 18.50 WMinghovM Ebc 3300 U.S. StM 32.50 ten. Ttf Etoc TORONTO AVERAGES 20 UXJuftrWt 215.82 down 4.49 20 OoMn 302.8T up 8.92 10 97.13 down 2.27 IS 27062 down 5.42 Votunw NEW YORK AVERAGES 20 IndutlriM 826 38 down 27 61 20 170.18 down 2.70 15 UtlllliM 89.91 down 1 21 69 2S8 S3 down 6 74 TORONTO Prices gn the Toronto stock market Icll sharply in active mid-morning trading in i osnonsc tu a sleep decline on the New market The industrial considered the major indicator of market trend was oil 281 to'217 40. base metals 81 to HI 59 and western oils 2 98 to 273 06 Holds rose 85 to 298 14 industrial m.nmg. steel and chemical stocks were among sectors ot the market recording the largest declines None of the 17 in- dustrial sub-groups weie higher Kalconbndge Nickel fell P i to W6J i. Canadian Tire A l'i to Bow Valley 1 to JJ2' i. Stelco I' i to and Texasgull 1 to Dvnastv declined 'j 5o Sherntt to S15 and Gibraltar 'K to SlI'H United Canso slipped 1 to J21 and Pan Ocean to Oil Corp was up 1 to I'rcston Mines to Camflo IS cents to and Canadian Oil Sands to MONTREAL All sectors feJl m light trading on the Montreal stock market today Combined volume on the Montreal and Canadian stock exchanges at 11 a m was 292.400 compared with 290.800 at the same time Friday. Industrials fell 292 to 24489. the composite 2 66 to 227 63. papers 2 32 to 132 44. utilities 2 02 to 142 28. and banks two to 273 09 On the Montreal Stock Exchange. Stelco fell 1' i to Quebecbr Pan Ocean Oil i to Placer Development '2 to and Rothmans ol Pall Mall Canada to On the Canadian Stock Exchange Mount Jamie Mines fell one cent to M't cents on 24 700 shares traded Currencies MONTREAL Monday's mid- day foreign exchange nominal selling rates supplied by the Bank of Montreal France franc financial 2240 Germany mark 3870 Italy lira commercial .0017Z5 Japan yen .003600 Switzerland franc 3175 United States dollar 1 00 United Kingdom pound 2 40- USSR ruble 1 4039 Quotations in Canadian funds Dollar value MONTREAL U dollar in terms of Canadian funds at noon Mon- day was up 7-50 at 99 49-50. Pound sterling was down 37-100 at K 34 4-5 In New the Canadian dollar was down 7-50 at Pound ster- ling was down 7-10 at 34 17-20 VANCOUVER Prices were down today in light trading on toe Van- couver stock exchange First-hour volume was 163.549 Oh the industrials Vantage group was at on Most active usue in-tne mlnei was High down three quarters of a cent at on shares. In the Princess was down a half cent at 32 Vi on 10.000 -shares NEW YORK Stock market prices plumeted today in what analysts described in investor disappointment with President Nixon s energy mes- sage Sunday The Dow Jones average ol 30 in- dustrials al noon was of I 23.93 at 830 07. while declines led advances on the New York Slock Exchange by about 7 to 1 Among Canadians on the New York exchange Mclntyre dropped 2'i to tS9-'i. Massev Ferguson to Distillers Seagram to Alcan i to Inco to 133 and Canadian Pacific j Dome Mines was up 2J i to f108 On the American exchange Preston was down 'i to JIB't. Scurry Rainbow and Canadian Marconi Livestock Calgary CALGARY r- Receipts to 11 a.m. Monday from the Calgary public stackyards totalled about 250 mostly cows Trade was active. A few steers were offered gelling steady for quality and con- dition. There were no heifers on offer. Cows were mostly in the lower grades with thin shelly kinds down to 22. A few bulls sold steady. Steers A3 and 4 43 50 to 45 SO. Cows Dl and 2 31 to D3 29 50 to D4 25 to 29 Good bulls 40 to 43 25 There were insufficient replacement cattle or stock calves sold to establish a market Hogs fob Calgary to 11 a m average base price 52 N. Hog prices EDMONTON Average prices to-41 a m Monday provided by the Alberta Hog Producers Marketing Board with Friday's average in brackets- Edmonton- 5240 Red Deer 52 80 Calgary- 5280 Total hogs sold Friday average 53 79. Sows average 40 05 Winnipeg grain WINNIPEG Rapeseed prices turned lower following a relatively firm open today on the Win- nipeg Commodity partially reflecting uncertainty In Chicago soybeans. Flax prices also were relatively un- stable at mid-session with nearby futures declining slightly and deferred July futures gaining three cents Oats and barley were easier and quiet and -rye declined slightly in a duller trade Volume of trade Friday was bushels of of of of rapeseed and 000 of rye Mid-session prices Flax. Dec 5 lower May 1 lower 10 OZA July 3 higher 9.78A Rapeseed Vancouver Nov 9 lower 5 Jan lower March 17 lower June 16 lower 5 55A Rapeseed Thunder Bay Dec lower 5 25A. May 8 lower 5 July unchanged 5 28B Oats Dec 4 lower 1 May 2Vi lower July unchanged 1 53B Barley- Dec 1'.2 lower 2 50A May lower unchanged 2 26B Rye- Dec lower May lower 2 July 2 lower 2 B1A WAXING ovei tempting look-alikes a visitoi to a San Francisco art gal- lery obviously has mote thai fine art in mind as she sur- veys a display of wax food sculpture. The fake al the H. P. Corwith is priced at with the chees- es going for about but not com petitive with the real thing. Dividends INI vsvmvs arc quarti-ilv unless 2'jcrnls .Km Ib rruiidDcc' .11 Eastern Canada Savings and Loan Cb .lrM rnls .Iiin I rrriii d Dec 5 I i minimi -Inn ill I ru-l l.lil.. ii-nis plus exli.i 14 cents miii-Msc nl on extra II in old Dec 14' Fraser Companies cents UK u.iM' nl live ci'tits 27 tcioid IH'c 14 Great Northern Capital Corp. livr cents Jan 1 icioid Dec Maritime Electric Co. Ltd 15 cents 2 i mini Nov 14 Maritime Telegraph and Telephone Co Ltd i'2'4 tents increase ot l'i ccnlN 7 10 jH'icc'ril pld 17 i cents holh IS retold 20 Moore Corp. tents US .Iiin 2. icccml 7 Nova Scotia Savings and Loan 25 c c-nls mcieasc ol Iwo cents I let-old Dec 12 Western .Broadcasting .Co. US.. l.iss A 7 7 corns Class H mm-rents Inilh p.n.ihk- Dei il iwmdNov 111 Tipi'i-cinl pld 71 i. cents scmi- Dec II tctoid IK'i 14 SELKIRK HOLDINGS LIMITED DIVIDEND NOTICE NOTICE IS HEREBY GIVEN that a quarterly dividend of ten cents per share has been declar- ed on the outstanding Class non-voting shares without nominal or par value In the Capital Stock of the Company payable on December 1973 to holders of Class shares of record at the close of business on December 1973 By Order of.The Board Ontario November 1173. F.T.W. NMh. Secretary A REGULAR GUY Delivering newspapers isn't the toughest part of a carrier's job. collecting for those papers and paying his bill on time simply because he has no control over his customer's response when he comes to collect. He wants to keep his collections on a regular but if you make him call back two or three his schedule is and he can't do his job right. You can help him be a regular guy by having the money ready when he comes to collect the very first time. after shouldn't we be setting an example for these young people when it comes to paying bills on The LetKbtidge Herald ;