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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 27, 1973, Lethbridge, Alberta Prices fall in active trade 0V Toronto 'stock market resumed its downward course today as prices Ml moderately in active mid-moming The industrial Considered the major indicator of market was off .68 to 214.16. The index recorded its largest drop in more than three years during Monday's response to energy worries and a severe decline on the -Now Yort- market. Western oils were off .99 to 269.30. GoldWrosc 2.18 to 302.26 and base to 95.89. Volume by 11 a.m. was 859.000 shares compared With 844.000 at the more than doubled ad- vances. to 106. with 198 issues un- changed construction and paper and' forest and beverage stocks were among sectors ol the market recording the largest declines while trust and loan. merchandising. and utility issues were higher. Trading in shares of Maryborough I'ropcrlies.was delayed at the opening. pending clarification of offers for its shares It closed Monday at un- changed Oilfield lell Walker- Gooderliam A to i.aMowsco Well Service i to MacMillan Bloedel 1 tu Keitman's A to Kio Algom was down to Alton .15 cents to 75 and Patmo to VU'i Hanger slipped I i to United Canso i to 2 and Sunningdale IS cents to 90. Indjl Canada rose to S13. Ill Inter- rulionjl to i Denison Mines 1 to Human Corp to 's and fan Oil to MONTREAL All sectors but utilities dropped in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a in. was 364.900 compared with 292.400 at the same time Monday I'aper.s fell 1.57 to 129 13. industrials 1 44 to 241.14. the composite J.03 to 224.64. and banks 93 to 269 15 while utilities rose 29 to 142.30. On the Montreal Stock Exchange. Du I'ont fell I1 1 to Imperial Oil '2 to Winnipeg grain WINNIPEG Rapeseed prices were down the daily limit in all but two futures months today at mid- session on the Winnipeg Commodity Exchange following confirmatin of similar price patterns in Chicago soybeans. Livestock Calgary CALGARY Receipts to 11 a.m Tuesday from the Calgary public stockyards totalled about -BSD mostly cows and steers Trade was active on cows and dull on steers with a narrow demand. Slaughter steers sold steady for quality with sales to 47.90 There were insufficient heifers sold early to establish quotations Cows sold steady for quality Bulls sold steady Steers Al and 2 45 A3 A4 41-43. Cows Dl and 2 D3 29.50-31 D4 25-29. Good bulls 40-43. Replacement were practically all fleshy short-keep steers in the 800 to 000 pound weight range. There were in- sufficient stock calves on Offer to es- tablish a market. Good feeder steers more than 800 pounds 44-46.60 Hogs f.o b. Calgary 11 a m. average base price 53 50 Hog prices EDMONTON Average prices to 11 a.m Tuesday provided by the Alberta Hog Producers Marketing Board with Monday's average in brackets. Edmonton. 53.55 Red Deer. 53 50 Calgary 53.50 Lethbridge- Nil Lloydminster- Nil Fort Macleod- Nil Grande Prairie Nil Fairview. Nil Total hogs sold to 11 a.m. 287. sqld Monday average 53.70 Sows ml Dividends Dividends are quarterly unless otherwise noted By THE CANADIAN PRESS 4 per cent pfd 68V4 Jan. record Dec. 7. Canadian Vickers Jan. record Dec. 31. Cominco 60 semi an increase of 10 plus an extra of 15 an increase of 10 cents on the Dec record Dec 3. Doman Induitries five Jan. 1. record Dec. 15 Husky Oil Canada six per cent pfd series 75 Dec record Dec per cent series 75 Jan. record Dec 3 Steinbergs per cent series JS.31. Feb. record Jan 25 Earnings By THE CANADIAN PRESS Canadian Merrill three months ended Sept. 19-8. 124 cents a 1972. cents OptratloM six months ended Sept. 75 cents a 61 cents Controlled Poodl International nine ended Sept. 30 IB cents a 18 cents. General Dynamics nine months ended Sept. 1973. Melton Real EsNle nine months ended Sept 1973. their carry- Flax prices continued downward partially a over trade from Monday's while oats and barley posted fractional declines in a duller business Rye dropped five to six cents in a moderate trade. Monday's trading volume was 000 bushels of flax. of of of rapeseed and 000 of rye. Mid-session prices. Dec 30 lower May 27 lower 9 July 22 lower Oct 20 lower 8.76A. Rapeseed Nov unchang- ed Jan 20 lower 5.41 March 20 lower June 20 lower 5.31 A. Rapeseed Thunder Bay. Dec 20 lower 4 May 20 lower July 20 lower Oct. unchanged 500A Oats. Dec. 3 lower May lower July unchanged 1.51A. Barley Dec 3 lower 2 May un- changed 2 July not open. Rye- Dec 6 lower May 5 lower July 5 lower 2.63B Grain quotes Monday basis High Low Flax Dec 1070 1047 May 1003'2 973 Jly 966 Oct Rapeseed Vancouver Nov 583 Mar 579 Jun 567 952 Close 1047 973 952 557 551 566 561 Vz 557 551 il cents a rents. 31 ClIITMIClM 11 Tuesday's mid-day exchange nominal selling rates sujplled by the Bank of Montreal Australia China renmihbf.MJO Denmark kronf -'1695 franc rhancial 2180 Germany marlf .3820 lalv lira 001705 lapan yen OO.'lilO rioxico peso Ipain peseta iwitzcrlaml ranc 3170' Initcd Si Hid dollar 1.0025 'nilcd KlnrfJom pound 2.38 IS.S.R ruHc 1.4039 in Om.nrlian funds. Rapeseed Thunder Bay Dec 535 May 522 528'A 528'A Jly 528 Oct 500 Oats Dec 163 May 158 Jly 154 151 151 Barley Dec 245 May 246 244 244 Jly 226V4 Rye Dec 27014 270'-4 May 291 275 275 Jly 268 268 Chicago markets CHICAGO Commodity futures prices fell on major American exchanges with many declin- ing to limits allowed for one session Much of the selling was linked to a generally pessimistic concern about the impact of the energy crisis on in- dividual their price and marketing. Limit declines were posted in board of trade soybean com and oats. Wheat and soybean oil futures touched limits but turned up- ward at the close. Live cattle and live hog pork bellies and shell eggs all tumbled for limits on the Mercantile exchange. World sugar futures also declined. Soybeans and wheat fell 20 with a small recovery in wheat at the .close. Meal was down a ton. com 8 oats 6 and iced broilers 2 cents a pound. Soy oil was down 1 cent but also recovered a shade Cattle and hog futures pork bellies and eggs fell to limits. World sugar eased 50 points Grain quotations Monday- Wheat. Dec Mar 4.48. May Jui Sep 3 81 Corn. Dec Mar May Jul Sep 2 Dec Mar 2 40. Dec 1 Mar May Jul Sep 1.30. Dollar value MONTHKAI. -US dollar in terms of Canadian lunds at noon Tues- ilay was up 1-50 at 00 2-25 Pound sterling was up 9-10 at .15 27-50 In New Canadian dollar was 1-5 at I'ound Mcrling up 17-20 at Ji2 35 7-20 Beef futures WINNIPEG Live beef futures close Monday. Mar May Jly S2.70N. Friday's 15 contracts Gold futures WINNIPEG Gold U S. funds. Winnipeg commodity ex- change fclose Monday. Jan 74 Apr 74 Jly 74 Oct 74 Jan 75 101 90B. Friday's volume- 78 contracts. Herald- 1171 -THI LiTmiNDM HtlULO -17 Business Cominco to and Hudson liay Mining and Smelting to while Aquilaine Co. ol Canada rose to On the Canadian Stock Exchange. Jamie Mines fell one cent to 30 cunts on 19.500 shares traded VANCOUVER Prices were down Monday in light trading on the Vancouver stock exchange. Volume was shares. On the industrials Speculators Fund fell .08 to on shares. Vantage Group traded at shares. Cornat Industries was'down .49 at on shares. Reed Shaw A traded at 110.50 on shares. Colum- bia Brew fell .05 to and Block Brothers was down .10 at Most active issue in the mines was down .01 ft at .24ft on shares. Cop-ex Mining was down .02 at .44 on 83.500 shares. Cutlass was up .02 at on shares. Brown- Overton fell .04 to .20 on shares. LP Industries traded at .22ft and High Hawk was down three-quarters of a cent at In the Princess Ventures was down .01 at .18 on shares Seneca Development rose .01 to 06 on shares Western Warner was up .03 at .48 on shares. Monterey A fell to .41 on shares. Plains Petroleum was unchanged at 22 and Whistler was down .03 at 25. NEW YORK The stock market settled still lower today after its sharp downward movemenUMon- day. amid what analysts described as continuing investor worries about the impact of the United Stales' energy on business and the economy The noon Dow Jones average of 30 in- dustrial stocks was down 3.53 to 821 42 Advances and declines were close to even on the New York Stock Exchange Among Canadians on the New York exchange. Dome 'Mines was up 1 at Mclntyre 1 to Seagrams to i. Hudson's Bay to and Canadian to was ofl to In- ternational Nickel Jn Hiram Walker to and Alcan to Massey-Kerguson was unchanged at Stocks Miscellaneous Montreal by McQiuif 11 A.M. QUOTES WESTERN OILS AND MINES Afton Mines 7.00 Albany Oil .72 Alminex 7.15 Asamera 12.75 Ashland Alia East Gas 7.35 BP Canada Brenda Mines 7.60 Can South 5.05 Cdn Ex Gas 3.90 Cdn Homestd 7.00 Cdn Ind Gas Oil 8.50 Cdn Long Is .19 Chieftan 11.00 Cdn Super 56.25 Dome Pete 37.50 Dynasty 10.50 Fort Reliance .23 Giant Mascot 2.40 Gibraltar Mines 10.50 Gran isle 9.00 Gt Plains 29.75 Gt Cdn Oil S 11.3714 Lochiel 2.75 Lytton Min 1.35 Noble Mines .90 North Cdn Oils 6.45 Numac 1600 Pancdn Pete Pan Ocean Petrol 1.75 Pinnacle .21 Place Gas .51 Ponder .55 Ranger 29 00 Scurry Ram 21.00 Seibens 15.25 Spooner Total.Pete 6 50 Ulster Pete 1 1.2 United Canso West Pete 6.50 West Decalla 7.20 MISCELLANEOUS INDUSTRIES Acres Ltd Aquitame 2600 BC Sugar A Pfd 14.50 Block Bros 3.35 Cdn Pac Inv A Pfd 31.75 Com Cap Corp 2 60 Carling O'Keele A Pfd 25 00 Carlmg O'Keefe B Pld 29.75 CrestbrooK Ind 8.50 Crowsnest Ind 31.12V4 Falcon Copper 11.50 F and M Trust 5.00 Genstar Global Com Unit 44.00 Home A 54 75 Home B 48.50 Hud Bay Co 18.25 Hud Bay Oil 46.75 Hud Bay A Pfd 53-00 Hugh Russell Pfd 46 00 Husky Oil Husky B Pfd 42.25 Husky D War 11.37V4 Husky E War Hys of Canada 3 60 inter Prov Pipe 7 40 Inter Prow Steel 1300 Kaiser Res 4.70 Loblaw C Pfd 27.25 Magnasonics 7.75 Pacific Pete 33.25 Pac West Air 8.25 Pe-Ben Oilfield 6 50 Rainier Inc 4.37Vi Royal Trust Sandwell Tetedyne West Cdn Westfieid Mln Western A Pfd White Yukon PIPE LINE STOCKS Alta Gas A Aita Gas Pfd Alta Nat Gas Inland Nat Gas Gaz Metro Gaz Metro A Pfd N and C Gas N and C B Pfd Pacific Gas Trans Trans Can Pipe Tr Can A Pfd Tr Can B Pfd Tr Can War WC Trans WC Trans Wts CALGARY Acroll Barons Oils N Continental West Warn VANCOUVER MINES Atlas Explor Bath Norse Dankoe Davenport Dolly Varden Equitorial Res Lornex Primer Pyramid Silv Stand Valley Copper INDUSTRIALS Colum Brew Key Indus Wardair 27.00 S.62U 4.40 5.00 1.16 60.00 9.00 10.62V4 68.50 17.00 900 5.25 66.25 10.75 22.50 9.75 33.25 62.25 37.75 6.00 Zt 37V4 4.00 .61 .04 .01V4 .41 OILS .32 .76 2.05 .32 .18 .12 10.00 .10 .12 1 10 9.35 3.10 .16 1.75 .20 .70 .78 Plains Pete Pond Explor Stamp Intl Res MUTUAL FUNDS All Cdn Com 6.56 7.13 All Cdn Dividend 6.96 7 56 All Cdn Ventures 3.55 3.86 Amer Grow F 4.97 5.46 AGF Special 2.54 Cdn Invest F 4.99 5.48 Collect Mutual 5.43 5.96 Com Inter 13.53 14.98 Com Leverage 3.30 3.63 Com Venture 6.17 6.78 Corp Investors 6.24 6.86 Corp Invest S F 5.12 5.63 Dreyfus Fund US 10.45 11 45 Grt Pacific 4.64 5 07 Grpd Income Sh 3.26 3.58 Grow Equity 7.30 8.02 Invest Grow F 12.16 13.29 Invest Mut 5.79 6.33 Mut Accumul 6.04 6.64 Mut Grow F 3.19 3.51 Nat Res 4.92 541 NW Cdn 5.37 5.90 NW Growth 4.47 4.91 Prm Growth 4.51 4.95 Provident Mut 7.62 8.33 Royfund 6.73 7 01 Temple Grow 7.57 8.29 United Accum 4.78 5.25 Umver Savings 8.11 8.92 Univest 6-12 6.72 vanguard 5.79 6.35 Toronto industrials by Richardson Securities of 11 AM. QUOTES Brazilian Trac MINES BC Tel Acme .11 Burns Advocate Asb. 1.28 BC Forest Akaitcho 1.10 BC Sugar Bralorne 1.55 Bow Valley Ind Broulan .41 Cable Bethlehem 14.25 CAE Ind Bovis 2.00 Carlmg O'Keefe Brunswick 5.15 Chemcell1 Can. NW Land 7.30 Cdn Cellulose Canada Tung. 2.95 Calgary Power Cassiar 11.12V4 Coron Credit Central Pat. .84 CWN Gas Pfd Chimo 1.00 Cdn Conwest 4.30 Cdn Marconi Cons. Rambler 2.65 Cdn Vickers Com Lake .livi Chrysler Cochenour .58 CPR Craigmont 6.55 Cominco Dickenson Mines 3.10 Cons Bathurst Denison Mines 52.50 Cons Gas D'Eldona .38 D'St Seagrams Dome Mines 108.00 Domtar Discovery Mines .92 Dom Textile East .Malartic 3 60 Dom Stores East Sullivan 2 32 Dome Pete Falconbndge 66.75 Dofasco Frobex .22 Glen Mobile First Maritimes .68 Grt Cdn Oil Giant Y.K. 8 05 General Motors Granduc 3.30 Grt Lakes Paper Hollmger 44.75 Gulf Oil Cda Hudson Bay Greyhound Hydra Ex. .22Vi Hawker Sid Iron Bay 3.55 Hiram Walker Iso 1.74 Huron Erie Joliet Quebec Imperial Oil Kerr AddisOn Imasca Key Anacon .30 Int Nickel Labrador 44.75 Int Pipe Lake Shore 2.65 Inv Group A Langis Silver .04 IU Internal Madsen R.L. 1.11 Accept Malartic S.F. .80 Kaps Martin McNeely 17 Kelly Doug A Maclntyre 53.25 Laurenlide Meta .13Vi Loeb Midrim .15 Loblaw A Intern Mogul 8.90 Metropolitan Nu West Homes 8.75 Mass Ferguson New Athona .11 McMil Bloed New Calumet .25 Moore Corp Noranda 50.1 Molsons A Northgate 4.65 Molsons B Norlex .38 Nachurs Pine Point 36.25 North Cent Placer Dev .38 Power Corp 'Pax Exp. 1.15 Pnce Co Quebec Man Rothmans Rayrock .96 Shell CDA Radiore .28 Simpsons Rio Algom 34.62Vj Simp Sears Roman Corp. 14.37Vi Steel Canada Sherritt Gordon Selkirk A Steep Rock 1.86 Texaco Tek Corp. 3.50 Traders Grp A Texmont 21 Trans Mtn Pipe United Canso 20.25 Trans Can Pipe Western Mines 2.92 Union Carbide W House Copper Mines 2.90 Union Gas Wright Hargreaves .83 Union Oil Willroy 1.03 United Siscoe Windfall 4.50 Versatile Mfg Yellowkmfe Bear .08 Westeel Zenmac .09 Westons Woodwards A INDUSTRIALS West Cdn Seed Abitibi Zenith Elec Alcan 35.6214 BANKS Algoma Steel 19.75 Cdn Imperial Atco Ind 14 50 Montreal Jannock 6 50 Nova Scona Agra Ind Royal Bell Tel 40.62 V4 Toronto-Dom New York by Richardson Securities of Amr. T4T Anaconda Bern. Steel Chrysler Comsat Dupont General Motors Gulf Int. Harvester Kenn. Copper Montgomery Ward Sears Exxon Texas Gulf Texas Co Wix Corporation Woolworth 46.25 22.00 18.00 44.50 156.75 21.87V4 25.00 35.25 13.25 18.75 WestmghouM Elec. US Steel Gen. Tel. Elec 52.87 15.50 19.00 19.25 31.25 16.62V4 400 5.00 600 23.50 2.20 10.75 3.50 17.75 15.50 35.00 16.00 41.50 2275 8.12V4 37.50 29.00 8.50 11 5000 2275 32.75 18.50 465 5100 3025 4150 2850 32.75 22.87 Vt 8.87 Vi 19.00 1750 495 5.00 10.37Vi 4.30 11.12V4 2000 3200 52.25 22.25 10.50 10.75 15.00 14.50 18.25 8.00 28.00 15.00 45.75 16.00 17.00 336214 18.00 9.75 15.00 5.30 6.50 2050 21.62V4 5.00 3.00 28.50 35.75 32.50 32.50 24.87V4 TORONTO AVERAGES 20 Industrials 213.10 down 1.74 20 Golds 301.82 up 1.74 Base Metals 95.48 down .09 15 Western Oils 266.96 down 2 33 Volume NEW YORK AVERAGES 20 Industrials 817.95 down 6.99 20 Rails 169.14 down .58 15 Utilities 89 56 down .06 65 Slocks 25639 down 1.56 Volume For sale The shingle's been hung out on an entire block of five houses west of 2nd Street along 2nd Avenue S. near Sicks Lethbridge Brewery. A spokesman for Schwartz Agencies said Monday the company hopes something can be developed on the properly but there is noting definite in the works at the moment. According to one report the city had attempted to purchase the property earlier this year to relocate the Home and Pitfield Foods Ltd. cash and carry warehouse forced to move from the down- town redevelopment area. But the price was not right and the store is to go up on a city-owned vacant lot at 303 3rd Avenue S. behind the Eaton's warehouse. Ex- ik. M- 26 ers iry. iMf 16. lUI nd i 10 11. fty 19. in ne 28 nd w. Hx he He ne -4 TO ty n. rt Energy crisis reaction World market prices plunge NEW YORK Stock markets throughout the world declined Monday as a result of the energy crisis. The New York Stock Ex- change recorded one of its sharpest declines in recent markets plunged throughout Europe and prices plummeted in Montreal and Toronto. The Dow Jones average of 30 industrial stocks fell 29.05 .points to 824.95 its lowest level in two years. The single-day drop was the fifth sharpest on and followed other major drops of 24.24 points Nov. 9 and 28.67 points Nov. 19. Midway through Monday's the Dow average was down more than 33 points. Had that held to the it would have exceeded all declines other than the Great Crash of 1929 and the day in 1962 when President Kennedy and the steel industry clashed over price increases. The London stock market fell to a 2Vz-year low and an index of West German stocks dropped more than two points to a record low. All other European exchanges were sharply lower. Dollar stocks dropped on European markets and brokers said this was in reac- tion to President Nixon's an- nouncement of fuel restric- tions. Prices fell sharply in light trading on the Montreal stock market but losses were not as severe as those in New York. At the industrial index dropped 5.47 to its worst loss since May 25 when it fell 6.09 points Despite the sharp decline on the New York trad- ing was orderly and calm. Brokers said there was little excitement and no hysteria-. ago it would have been a panic with this sharp a said George for 40 years one of the ex- change's supervisors on the floor. it was just a regular ENERG Y CRISIS TO MEAN INCREASED FOOD PRICES B.C. Canadians can expect to pay more for food in the coming months as a result of the energy Federal Agriculture Minister Eugene Whelan said Monday. the price increases won't be nearly as bad in Canada as they will be in the he predicted in an interview during a tour of the eastern Fraser Valley. The agriculture minister would not .predict what com- modities will cost more or how much prices will saying only that price increases will probably affect a number of food items. He said the price increases would be the result of fuel price increases and higher costs for fertilizer com- ponents. At a public meeting Mr. Whelan said federal government will give Cana- dian farmers the highest priority of any group during fuel He said Canadians must realize that farmers are sub- ject to most of the same economic forces as con- and in the case of energy even more vulnerable. Busy weekends ahead for border gas stations By VICTOR MACKIE Herald Ottawa Bureau OTTAWA American motorists unable to buy gas- oline in the United States after 9 p.m. Saturday and all day Sunday are expected to flock across the Canadian border to fill their tanks at Canadian if they live near the border. Energy Minister Donald Macdonald took no action Monday in his conservation of energy program to emulate the U.S. and impose a ban on gasoline sales Sunday. President Richard Nixon Sunday announced among other measures a voluntary halt to Sunday sales of gas- oline commencing Dec. pending the authorization of a mandatory ban. It had been believed here that the Cana- dian government would follow suit and ban Sunday sales of gasoline in Canada. farmer is the biggest user of energy fuels. The amount the urban person uses in comparison is He said fuel shortages could affect processing and dairy farms. Oil weapon ALGIERS Leaders at the Arab summit conference generally agree the oil weapon should continue to be used and should be ex- panded if necessary against countries supporting informants said today. But the Arab oil exporters were asked to make special efforts to exempt France and other from the bans and cuts. The sources said the Arab oil states are expected to tighten the embargo against the United States and the Netherlands but to ease restrictions on Japan because of Tokyo's recent en- dorsement of the Arab call for Israeli withdrawal from all occupied territory. The sources said the Arab leaders also are agreed in principle that peace talks with Israel should be held in three stages. The talks are expected to start next month in Geneva. EVANS PRODUCTS COMPANY LIMITED MR. JOCK FERRIE Mark H. Presi- announces the ap- pointment of Mr. Jock Ferrie to the position of Distribution Centre Man- Calgary. Mr. Ferrie has acquired a broad background marketing building materials in both Canada and the U.S. The Evans Distribution Cen- tre in Calgary is the sec- ond to be built in Can- ada for marketing the company's building ma- terial production and other related allied product lines. The Cal- jary operations will be conducted from sq ft. premises located at 7705 Flint Road S.E. Home off the The next time you're heading for call our toll-free reservation number first. Zenith 6-6014. Then come on home to friends. Downtown Calgary. 9th Ave. 1st next to the Calgary Tower. ;