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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 29, 1973, Lethbridge, Alberta Gold price rise trend continues TORONTO Gold issues ton timed to gam sharply but other on the Toronto itock market were generally lower in moderate mid- morning trading today The fold index rose 7 41 to 1336 W a new in response to rising prices for bullion The index gained more than 16 pants Wednesday The Industrial index considered the major indicator of market trend was down 1 24 to 2H 85 and base meUls 22 to IS 46 Western oils rose 99 to 271 16 Volume at 11 am was 691000 down from at the s.ime time Wednesday Declines outnumbered advances 196 to 141 with issues unchanged Paper arfd beverage in- dustrial rrwlmg and chemical stocks were ahiqrig sectors of the market while general manufacturing steel real estate oil refining issues were higher WOODSREEF HALTED was halted at the opening in shares of Woodsreef Minerab at the request 'of the eompani pending a information The stock clos- ed Wednesday at 23 cents Trading remained halted in snares of Guaranty Trust Traders Group Ltd announced today it is making an offer of 114 a share for an.addition.il 340 000 shares of Guaranty Among gold issues Campbell Bed Lake rose to Agmco-Eagle 25 cents to K Pamour 15 cents to 75 and Dome Mines to 1120 Consolidated Ba'thurst fell 1fc to IU International 1 to Chrysler to Walke'r-Gooderham A to and Koffler Stores to Imperial Oil rose 1 to Texaco to and Bow Valley Vz to J31-Mi Numac Oil was up '4 to while Pan Ocean dropped to J17JA MOMKI.M l'i TIKIS win Mm i ilh Inuu in lidding on UK MlllllK ll 111 II kit mi UK Munlii il mil in nil in slink il II i in u is 221 -hiti- vvnli 4H4 inn il I IK s.inu VA t iliu sd li inks In 2711 utililKs I.I. In 14 In mil incliislnils 11 In 242 Ml vvlllll IS III I illH-l On tin Miinln il Mink I I nl III In M I in i in I In M is i I i iMIsill II I ill ill i In I ililllln Ikinimii'll lust I In M7 Ih Mil IN k I II HIM si ml .Ill MUM 'si liiM IK li i ill lili nl I i Mill -ll ins HI I'llii s VM U In. -il iv in II iiliiii. nn UK ill ilivii V ll Hip Vnlllllli I II. I .Id -Iliii s illl Illi inilllslin1 Imilil nlli Ini i M limn il vv i- ii h i un i uiliiiiii it I iHHl li il i s Mi OJ In ill ilKl shins SJH i III llni s limit i II In Illilll 7 II III slllll s I nl Inilli lilt is up I i il M -111 nil It 4 s ink nl Kllllsli I illlllnhl i mills 12 I Illllllsllll x tt IS III Jl 2l hi UK IMIIII s I nil I--IO-I UiuM 117 HI Jl INI sh ins i Milling HIM III In Ml I'HNHIslMlis dill II I m i ill in 21.....lit mm shin s I n inn Mini is up Oi il 24 nn ii ilKI li 111 i i iii ml iv up ill M in mil spi i nl mils Inn.I u is up n II Mnsl ll IsslK III Ilk tills U I'i nil i s up ill M nn 44 IHI -ll HI-. 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Mils ll lilt i I.IM I'm kin IK sliiii liiliu is id V illl I Illl IE MlllsslhU Illlllls Mill iiihli I u M ululi liu i illll mil In i Mil in is piKis.ilsn VMukid Ilillll I Ullllll II llllllM s losul illl silting liuu s IS III SUNK Illlllllllllllll s Illl upl lilies HI K Mill Illl Illll III I 11111 i On the I'.n.nd nl li nit uilliin iiiiiuiU- illii win il mil ins ii up Tin i Inislu I mil slimlh liuu din nun oils mil mini plls Illl 111 si u mil sin Ix ins i lost il mils liiliu i il -t'l'l' mil I mil in smln ms n h ll'l i m u u is up HI ills DIM mix i Jl'l i .mi' mis i i mhi i I IT i Ilu i pi IK- is is ft mis Inniifjil him is m Im funk hi llus Ijllill Illlllls Win H Di i 'I'l M n HI M J m i luh 4IIH' Sip 4 OH UNI Dii Jlit i M.ll V1 J7U' lid Sip Iffi i Dii 247'. M ii 2 ill Winnipeg grain i i. tii v i i i il d -tllLjillV hlL.lu 1 III d I Kit d Iml ij IIHil -l -M rtf Mil L. lit III I ll Hit1 I llMllill I M I M ll K I s U ll H 1 Hill I I hi NIK ll IMLM Livestock Calgary CALGARY Receipts to 11 a m Thursday from the Calgary public stockyards totalled about 950 head mostly cows and steers Trade was dull on steers and heifers with a narrow demand and active on cows Slaughter steers sold 50 to tower with sales to 46 Heifers lower Cows sold fully steady and bulls sold lower Steers Al and 2 43 25 45 20 A3 41-43 A4 40-41 Heifers Al and 2 38 25 39 70 A3 36 50 38 Cows Dl and 2 31 33 D4 29 50-30 50 D4 24 29 Good bulls 39-42 Replacement cattle were mostly short-keep steers in the 800 to 1 000 pound weight range selling steady Stock calves sold steady for quality Good feeder steers more than 800 pounds 42-46 Good stock steer calves more than 400 pounds 50-57 Good stock heifer calves more than 400 pounds 42 47 300 to 400 pounds 43 48 25 Hogs fob Calgary to 11 am average base price 53 Currencies MiA I M I I I hill Mini il Inn iui i M li nit......nun il i lhn_ i MI x d In ilu ink nl M.......I II ill I loll II I ill Inn i i iiininhi iiii I......ilk ki mi i lii'ni I I III ll Ill jl l I I II IIIV Ml II k II ll III I .111111. III ll Illll 111 i 111 vi ii nu hill MI n MI Illllll Illl VI I I i i I mil ll nu I II i ll I M lit v .lull n OIL. I Mil ll KlIlL llnlll I Illllll I III 'I M iiii M 111 in i li 111 MtiiiK Oold futures i. i-i in s I IniiiK niiininiliU 1 h IIIM I in 71 IHI 7-1 MM iHH Ih 71 HIT Oi I 74 lift M I in 7. II 'lift I III s MillIMM I I nilll I I Mi il Illllll u III Hi u I i mhi l hilllli Illll I'K nil i li 'Illll-- iWrlrl I llllllllll- I lls Illll II II ll Ul Illllll I -I Ml I I Illl Illll I M ill I Illll ll ll K Illlll llh 111 I III ill I III II Illl nlllllll ll ll Illl illll -ll IV U I- I nun lyii-lu I- il II Illllll nl n ii- I Him il h nli n'lM nun nl i il HI I I ll I nun il i M si I Mi I s I 1 Di i u hiLln i II mil. M i III ll I 'I I I 'I III III I IIIL.IH i li I I -iiil nu nn i i NIK hull i i h I I. I in Infill l i Ml M mil InJ il i Illlll i hull i i i I v nl Ihilllill l ItK I1 I i i II li M iv I limi l i JIM luh huh i i jnl. Hi I inn li nip illlill nil Hi iiiiili mui il I iiil M in h trui il I iiil luh n I M I III III I M U II H I I li i li i i I IN i I I IHI i J M iv I I vvi i ii luh inn h nip il N Flax I li l I lllll Ml ll ISI- High Low Close 'Wll' '171 Hi l flapi'sccd Vamouvcr I in Mil TO1. lun -ill Rapcseed Thunder B.IV Dii iv IK Ol I Oats DM Miv u In ilu Ih KU- DU llv lll'l I'll r.IO SM JH'I J4II JHII I07li 'CHI '177 871 Vfi S4K -i.24 1IKI 151 147'. 22K 2HJ JdK LONDON Closing metals bid ask in pounds sterling a metric ton silver in pence a trov ounce 1 035 1 04i futures Beef futures il l'i I i Illlll I s I I IM Ut lllll I in Ml M il il Illlh IL il ill I in I iv s Inhnm 111 null u Is Tin-Spot 2 540 2 545 futures 2 500 2501 Lead Spot 228 5 229 futures 228 5 229 Zinc-Spot S'iO-BSO futures 702 701 Sliver Spot 1245 125 1 months 128 128 1 Dollar value MONTREAL -US dollar in terms of Canadian funds at noon Thursday was down 4-25 al JO 99 41-50 Pound sterling was up H 50 at 1191 100 In New York the Canadian dollar was up 4 25 00750 Pound sterling was up II 20 at 14 b 25 Your Business Associates Will Be Staying At The 3 Jfflotel Pwnta B.C. Color See You -4438 Herald- Business New currency crisis looms November 1973 THE LCTHBRIDOE HERALD 17 Stocks Miscellaneous Montreal by McQuaig WESTERN OILS AND MINES Alton Mines 25 Albany 68 Alminex 70 Asamera 12 75 Ashland Oil 1875 Aita East Gas 7 20 BP Canada 14 00 Brenda Mines 7 80 Can South 5 00 Cdn Ex Gas 3 90 Cdn Homestd 7 10 Cdn Ind Gas OH 9 00 i Cdn Long Is 18 Chieftan 11 12V4 Cdn Super 59 75 Dome Pete 37 00 Dynasty Fort Reliance 20 Giant Mascot 2 64 Gibraltar Mines 10 75 Granisle 9 50 Gt Plains 2912'A Gt Cdn Oil S 11 Lochiel Ex 2 80 Lytton Mm 1 15 Noble Mines 89 North Cdn Oils 6 60 Numac 16 Pancdn Pete 1400 Pan Ocean 17 Petrol 1 78 Pinnacle 21 Place Gas 52 Ponder 55 Ranger 29 50 Scurry Ram 21 Seibens 1500 Spooner 36 Total Pete 6 40 Ulster Pete 1 zo United Canso 19 62'A West Pete 6 25 West Decalta 6 95 MISCELLANEOUS INDUSTRIES Acres Ltd 11 50 Aquitame 27 50 BC Sugar A Pfd 14 50 Block Brcs 3 25 Cdn Pac Inv A Pfd 32 62'A Com Cap Corp 2 75 Carlmg O Keefe A Pfd Carlmg O Keefe B Pfd 29 50 Crestbrook Ind 8 Crowsnest Ind 31 Falcon Copper 11 50 F and M Trust 5 00 Genstar Global Com Unit 44 00 Home A 54 50 Home B 48 00 Hud Bay Co 1B50 Hud Bay Oil 47 00 Hud Bay A Pfd 53 00 Hugh Russell 49 50 Husky Oil 28 25 Husky Oil B Pfd 42 25 Husky D War 1175 Husky E War Hys of Canada 3 60 inter Prov Pipe 7 75 Inter Prov Steel 13 Kaiser Res 4 90 Loblaw C Pfd Magnasomcs 7 50 Pacific Pete Pac West Air 7 75 Pe-Ben Oilfield 6 50 Rainier Inc 4 25 Royal Trust SandweM Teledyne West Cdn Seed Westfield Mm Weston A Pfd White Yukon PIPE LINE STOCKS Alta Gas A Alta Gas Pfd Alta Nat Gas Inland Nat Gas Gaz Metro Gaz Metro A N and C Gas N and C B Ptd Pacific Gas Trans Trans Can Pipe Tr Can A Pfd Tr Can B Pfd Tr Can Pipe War WC Trans WC Trans Wts 2600 525 435 SOO 1 13 6000 875 1075 68 1750 9 5 6775 1075 2200 1000 3400 63 3825 6 10 2225 375 CALGARY AcroM SB Barons Oils 04 N Continental 01 West Warner 45 VANCOUVER MINES Atlas Explor 26 Bath Norse 75 Dankoe 210 Davenport Dolly Varden Equitonal Res 13 Lornex 1000 Primer 07 Pyramid 14 Silv Standard 1 10 Valley Copper 9 40 INDUSTRIALS Colum Brew 2 85 Key Industries 15 Wardair 1 80 OILS Plains Pete 22 Pond Explor 75 Stamp Intl Res 74 MUTUAL FUNDS All Cdn Compound 6 64 7 22 All Cdn Dividend 7 05 7 66 All Cdn Ventures 3 49 3 79 Amer Grow F 5 07 5 57 AGF Special 2 62 Cdn invest F 5 03 5 52 Collec Mutual 5 54 6 08 Com Inter 1360 1495 Com Leverage 3 33 3 66 Com Venture 613 6 74 Corp Investors 6 32 6 95 Corp Invest S F 5 14 5 65 Dreyfus Fund US 10 59 11 61 Grt Pacific 4 66 5 09 Grpd Income 3 26 3 59 Grow Equity 7 36 8 09 Invest Grow F 11 83 1292 Invest Mut 565 6 17 Mut Accum 6 08 6 68 Mut Grow F 3 31 3 64 Nat Resources 4 94 5 43 NW Cdn 540 5 93 NW Growth 4 53 4 98 Principal Growth 4 51 4 95 Royfund 6 79 7 06 Temple Growth 7 55 8 27 United Accum 4 83 5 31 Univers Savings 8 09 8 90 Umvest 6 00 6 59 Vanguard 5 87 6 43 Toronto industrials 'Supplied by Richardson Securities of MINES Acme Advocate Asb 1 25 Akailcho 1 23 Bralorne 1 40 Broulan 42 Bethlehem 1450 Bovis 2 15 Brunswick 510 Can NW Land 7 20 Canada Tung 2 93 Cassiar 1075 Central Pat 82 Chimo 95 Conwest 4 00 Cons Rambler 2 95 Com Lake 14 Cochenour 75 Craigmont 6 80 Dickenson Mines 3 30 Denison Mines 49 00 DEIdona 12200 Dome Mines 92 Discovery Mines 4 20 East Malartic 245 East Sullivan 67 25 Falconbndge 67 25 Frobex 23 First Mantimes 65 Giani Y K 3 35 Granduc 9 30 Hollmger 43 75 Hudson Bay Hydra Ex 28 Iron Bay 3 65 ISO 1 72 Joliet Quebec 21 Kerr Addison 11 Key Anacon 28 Labrador 43 50 Lake Shore f 260 Langis Silver 04 Madsen R L 1 27 Malartic G F 87 Martin McNeely 22 Maclntyre 51 50 Mela 14 Midnm Intern Mogul B 80 Nu West Homes 850 New Athona 14 New Calumet 26 Noranda 50 25 Northgate 4 25 Norlex 34 Pine Point 33 Placer Dev 22 25 Pax Exp 1 15 Van i3 Rayrock 1 00 Radiore 28 Rio Algom 34 25 Roman Corp 13 00 Sherntt Gordon 14 Steep Rock 1 80 Tek Corp 3 60 Texmont United Canso Western Mines 2 88 W House Copper Mines 3 00 Wright Hargreaves 86 Willroy 1 10 Windfall 11 Yellowkmle Bear 480 Zenmac 08 INDUSTRIALS Ahilihi 1150 3662 7 Algom i Sleul 2000 Atco Ind 1537 Jrimiock 637 Agi.i Ind 11 00 Bill lei 4050 BitKih in Tirir 17 BC Tel Burns BC Forest BC Sugar Bow Valley Ind Cabfe CAE Ind Carlmg O Keefe Cherncell Cdn Cellulose Calgary Power Coron Credit CWN Gas Pld Cdn Industries Cdn Marconi Cdn Vickers Chrysler CPR Commco Cons Balhursl Cons Gas DIM Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dolasco Glen Mobile Grl Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawktr Sid Hiram Walker Huron Erie Imperial Oil Imasca Inl Nickel hit Pipe Inv Group A IU internal Accepl Kaps Kelly Doug A Laurentide Loeb Loblaw A Metropoliian Mass rerg McMM Blood Moore Coip Molbons A Molsons B Nichuri Norlh Cent Powci Corp Cu Shell CDA Simpsons binip bears Sicel Ccindrtd Selkirk A fexaco Iradeib Gip A Trans Mln Pipe. Trans C in Pipe Union C Union is Union Oil Un led Siscoi Vt is ink Mltj WisU U Wi sions Woodwards A WPSI Cdn Seed tiec BANKS c cln Imprr al Mo'ilic il Nov i Sroli i Moy il I i 5275 1550 1937 1925 31 00 1612' 850 405 537 587 2350 225 1075 1687 325 1612' 1712' 1550 34 75 2650 1562' 4025 3650 2250 850 1250 3700 2937' 825 11 62' 4950 2300 3325 1787' 500 5225 3012 4200 2775 3250 2275 6 62' 1950 1712' 485 512 1050 440 562' 11 00 2000 3350 5275 2200 2300 12 12' 1075 1075 1400 1850 850 1087 2887' 1450 4650 1600 1712' 3375 1800 975 1525 535 1725 JO 62 21 7b 500 JOO 2860 19 12 3750 3600 15 12 New York by Richardson Securities of Ami An iconda Both Stool Chtyslt'i Coins.il Ikiponl CUM r ii rvloloi s nn H uvosii i IM nn C oppi' Monliiomi iy Waid I Ii v is bull Ii x i Co 2387 2887 1723 4425 1 SO 00 4'i 'HI Pi .'I 1 Ml 81 HIIW Woolworlh 11 o bU H II Ipl tlU I lie Jlli 33 24 6t' IOKONIO AVfRAt.CS 0 Iniluslii is ilinvi 1 1 1 II l.olil ll'j up 'l I I i i i l j duvn 60 1 U I i In IM V ill Odd I W OHf AVI 11 il It il HI I I i Hill 1 M I I l il A i ii I i I i li Pound sterling near all-time low LONDON The pound sterling dropped toward .in .ill-turn' low as concern rose in Europe that oil shortages will lead to a new currency crisis Hie British currency dipped to 3325 US at the opening today from 3360 late Wednesday It has never clos- ed a trading day lower than the level recorded Ocl 30. 1972 Elsewhere in Europe the U S dollar improved against most currencies Fears on another monetary crisis were reflected in the commodity where investors were switching from Selling spree hits stock exchanges TORGiNTO Stock markets have been dropping faster than most thermostats this but some analysts are saying investors have over-reacted to the energy shortage Rosmar Financial Report says the selling spree is characteristic which should open up some good buying opportunities It says the latest inter- ruption in oil shipments from the Middle East has simply accelerated an already exist- ing energy crisis and that the end result could be beneficial to the United States and Can- ada If governments provide the economic incentive to develop new reserves and alternative sources of will cut a lot of ground out from under the promoters of recession psychology Odium Brown and T B Read Ltd says only the worst combination of events would plunge Canada into an economic recession in but cou- rageous enough to buy in this market simply must recog- nize the risk of the worst hap- pening .___ It says the risk-reward ratio ol spoil IK groups such as base metal producers and oil and gas has become favorable and these shares are recommended for risk ac- counts at current prices Maison Placements Canada Inc says the energy problem will be as- signed top priority by most in- dustrialized and the solution will call for rela- tively massive capital spend- ing programs Kippen and Co Inc says a is approach- a point at which funds again should be committed to the market Japan can be expected to develop new sources of crude oil and Europe will turn more toward Russia in its efforts to seek accommodation with the Arab countries paper money into goods they considered more stable Prices for rubber and coffee all reached record highs on the London commodity market Wednesday sugar and wool prices were also up. Gold soared 50 an ounce Wednesday and opened here another dollar higher Thurs- day at an again' reflecting a switch out of paper money x Dealers said money markets were busy In Paris the U S dollar rose to 4 725 French financial the highest level there for the U S currency since the dollar was devalued last February In the dollar moved up sharply to 2 6400 marks today from 2.6280 West German marks Wednesday Dealers again attributed the weakness of European cur- rencies against the dollar to improving U S foreign trade figures and to the Arab oil squeeze Europeans count on the Middle East for about 80 per cent of their oil needs. The United States gets less than 10 per cent of its oil from the area and is therefore less affected Wine sales increase Ot iCPi Xndios Wines Ltd reported ol 99 million lor the months ended Sent 30 compared vMth .sales ol million tin ilic sdme period List UMf oinpjm president Joseph roller said the rise in Idsorablv with the lor Canadian pioduced wmes which rose one per cent during the I ii'i iod osls and expenses for the months m 1973 were 23 million compared with million lor the six months end Sepl 1972 OC 1003 4th Avenue Telephone 326-4426 rocessna erviccs CANADIAN IMPERIAL BANK OF COMMERCE CONDENSED STATEMENT OF ASSETS AND LIABILITIES at October ASSETS Cash resources Government and other securities including mortgages Customers' liability under guarantees and letters of as per contra Bank premises Other assets Total assets LIABILITIES Deposits guarantees and letters of credit Other liabilities Accumulated appropriations for losses Debentures issued and outstanding rest account and undivided profits Total liabilities 1972 ______________ 1973 STATEMENT OF EXPENSES AND UNDIVIDED PROFITS ended October REVENUE Income from loans Income from securities Other operating revenue Total revenue EXPENSES Interest on deposits and bank debentures pension contributions and other staff benefits Property including depreciation Other operating including provision for loan losses Total expenses BALANCE OF REVENUE Provision for income taxes relating thereto Balance of revenue after provision for income taxes Appropriation for losses BALANCE OF PROFITS FOR THE YEAR Dividends Amount carried forward Undivided profits at beginning of year Transfer from accumulated appropriations for losses Transferred to Rest account Undivided profits at end of year 33.000.000 11.030.136 STATEMENT OF REST ACCOUNT ended October Balance at beginning of year Transfer from undivided profits Balance at end of year 380.000.000 Mora than 1500 branches in Canada Head Office Toronto Offices in Vancouver Ctlgiry Regina Winnipeg Montreal Halifax Offices throughout world New York Oregon Seattle England Frankfurt Pans Antigua Bahamas Barbados Cayman Islands Grenada Jamaica St Lucia St Vincent Trinidad and Canadian San Francisco a wholly owned subsidiary with 20 branches m operations in New York Barbados Grand Cayman Jamaica Trinidad and Representatives in Chicago Dallas Los Angeles San Francisco Brussels Milan Zurich Hong Ko'ng Australia Tokyo ;