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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 30, 1973, Lethbridge, Alberta paper stocks lower in moderate TSE trading TORONTO iCI'i Prices on the Turonlo stock market moved sharply lower in moderate mid-morning trading today The industrial considered the mujcir indicator of market was off 1.53 to 213.80. base metals .13 to W and western uils .SB lo 270.21. Tile winch gained sharply in the prcVK'u.-. loyr was off 2.4i to Volume by II a.m. was 691.000 the same as sales by II a.m. Thursday. Declines outnumbered advances 201 lo with 182 issues unchiingcd. Oil paper and lorcsi and beverage .stocks were aiming sectors Ihc market recording declines while lood processing. pipeline and trust and loan issues Uarbi-r-Kllis fell 2 to Kal- ronbridgc Nickel 1 to Imperial Oil 'K to S4I. Bow Valley to and Toronto Dominion Dank ''i to Dome Mines lost 1 Sherritl i to and Hudson Bay Mining i to was down to Asameru to and I'un Ocean i lo Victoria and rose '2 to Hio Algom '2 to 20 cents to Mindaniar 15 cents lo ami Canadian Oil Sands to MONTH KAL iC'Pi Prices moved lower in light trading on the Montreal slock market today. Combined vjlume on the Montreal and Canadian slock exchanges at II a.m. Was 218.500 compared with 221.200 at the same time Thur- sday. The industrial index fell 3.61 to '239.83. the composite 2.75 to 223.40. banks 1.08 to 269.76. utilities .62 to 140 52. and papers .42 to 131.32. On the Montreal Slock Exchange. Toronto-Dominion fell to Pan Ocean Oil to i. Moore Corp. '2 to Shell Canada '2 to and IU International Corp. 'i to On the Canadian Stock Exchange. Mount Jamie Mines remained un- changed at 21 cents trading 20.000 shares. Chicago markets CHICAGO Commodity futures prices moved uncertainly and unevenly on major exchanges Thur- sday. On the board of and soybeans were irregular while soy- bean meal was down the limit and soy oil oil was up the limit in nearby op- tions and strong in deferreds. Oats fell some 5 cents. Wide early price swings led to selloffs at the close in live cattle and live hog futures en the Mercantile Ex- change. Pork bellies were irregular while shell eggs gained a few points. World sugar closed on an uneven tone. After the first profit-taking at the Board of prices gyrated in a range of about 20 cents in soybeans. 15 cents in wheat and 10 cents in com. Late in the session mild rallies trimmed losses in the three pits. The possibility of new export business with China was still a buying but its effect was diminishing. supplies and concern about lower cash prices of cattle and hogs contributed to the bearist senti- ment in cattle and hog futures. Grain quotations Dec Mar May Jul Sep 4.02. Dec Mar May Jul Sep Dec Mar Dec Mar May Jul Sep 1.26. Winnipeg grain WINNIPEG Prices were steady in virtually all grain futures in light trading at mid-session today on the Winnipeg Commodity Exchange. Thunder Bay rapeseed was unchang- ed in all months and Vancouver rapeseed was unchanged to slightly lower. Flax was slightly higher to un- changed. Both oats and barley were un- and rye was to 4 lower. Thursday's volume of trade was 15.- 000 bushels of of 1.122.000 or rye. of flax and 2.277.000 of rapeseed. MID-SESSION PRICES- Dec. 6 higher May un- changed July and Oct. not open. Rapeseed Nov unchang- ed Jan. 4'A lower Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Bell Canada Ltd.. 71 Jan. 15. record Dec. 80 cents. Feb. 1. record Dec. 31. R. L. Craln 10 cents. Dec. record Dec 12. Delta Hotels pfd.. six initial. Dec. 1. record Nov. 26. Pacific Petroleums Ltd.. 60 an increase of 10 cents. Dec. record Dec. 11. Price Co. 10 Feb. 1. record Jan. 2. Scottish .and .York .Holding 1'i cents. Jan. 15. record Dec. 20. Metals LONDON Closing metals bid-ask in pounds sterling a metric silver in pence a troy futures 895- 896 Tin-Spot 'futures 2510- 2515 futures 231- 231.5 futures 703-705 3 months 129.5-130 Gold priees LONDON Closing gold prices in U.S. dollar an ounce. Loudon-102 M Paris-104.07 Hoag Kong-99.26 Belrut-3.347-3.253 a kilo Currencies MONTREAL Friday's mid- day foreign exchange nominal selling rates supplied by the Bank of Australia dollar 1.50 China renminbi .5075 Denmark kroner .1690 France franc financial .2185 Germany mark .3890 Italy lira commercial .001700 Japan yen .003610 Mexico peso .0810 Switzerland franc .3170 United States dollar 1.0015 United Kingdom pound 2.36 U.S.S.R. ruble 1.4039 Quotations in Canadian funds. treaury bills OTTAWA New 91-day treasury bills issued 1220 million at an average price of 98.422 and an average yield of 6.43 per cent. Last week. 1220 million at an average price and yield of 98.424 and 6.42 per cent. million at an average price and yield of 96.829 and 6.57 per cent. Last week. million at an average price'and yield of 98.823 and 6.58 per cent. Dollar MONTRKAL U.S. dollar in terms of Canadian funds at noon Fri- day was up 3-25 at 1-50. Pound sterling was down 4J 00 at 34 27-50. New the C.madmn dollar waa down 2fj at 49-50. -Hound sterling was down 7-20 J. Odd futures WINNIPEG ICPI COM futures. U.S. funds. Winnipeg Commodity Ex- change close Thursday. Jan 74 Apr 74 107.10A. Jly 74 Oct 74 Jan 75 I14.9S. Wednesday's 39 contracts. March 3Vz lower June un- changed 5.59A. Rapeseed Thunder Dec. un- changed May unchanged July unchanged Oct. unchanged 5.00A. Dec. unchanged May unchanged July not open. Dec. unchanged May unchanged July not open. Dec. 4li lower May 4Vz lower 2.83'A. July 4 lower Grain quotes Thursday basis High Low Close Flax Dec 1106 May 999 998 988 Jly 975 Oct 883 Vancouver Nov 578 566Va 579 Jan 576 554 572 Mar 573 552 569 Jun 561 546 559 Rapeseed Thunder Bay Dec 514 506 514 May 531 521 530 Jly 522 Oct 500 Oats Dec 157 May 156 Jly 147Vj Barley Dec 240 May 245Vi 243'A Jly 230 Rye Beu 284 May 283'A 288 Jly 283 278Vi Livestock Calgary CALGARY Receipts to 11 a.m. Friday from the Calgary public stockyards totalled about 1.950 mostly calves and yearling steers. Trade was active. A few slaughter cattle were mostly cows selling steady. A few bulls sold steady. Cows Dl and 2 31 to 33. D3 29.50 to 30.50. D4 24 to 29. Good bulls 39 to 42. Replacement cattle were mostly yearling steers weighing more than 800 pounds and selling at fully steady prices. Stock calves met a good de- mand at .firm prices. Straight black calves sold under pressure at sharply discounted prices. Good feeder steers more than 750 pounds 42 to 48. Good feeder heifers 37 to 44. Good stock steer calves more than 400 pounds 54 to 62. Good stock heifer calves more than 400 pounds 43 to 50. Hogs fob Calgary to U a.m. average base price 53.40. Hog EDMONTON Average prices to 11 a.m. Friday provided by the Alberta Hog Producers Marketing Board with Thursday average in 53.40 Red Nil 53.40 vNil Nil Fort Nil Total hogs sold to II a.m. 282. sold Thursday 7.862. average 54.14. By THE CANADIAN PRESS AllUice IMMtof Corp. nine months ended Sept. 1973. 74 cents a 1972. 18 cents. of year ended Oct. 1973. a 1972. Ctfllar Atbnlm Carp. nine months ended Sept. 1973. 48 cents a 1972. 56 cents. Cfelellaii Developmeil .Co. nine months ended Sept. 1973. CraifoiMt Mtaei year ended Oct. 1973. a 1S72. 50 cents. dntrlei Lid. nine months ended Sept. 1973. loss. 50 cents a 1972. profit. 56 cents. Harvey .Wwdf .nine months ended Sept. 1973. 1972. loss. ScMtltfe aid nine months ended Sept. 1173. 22 cenu a If72. 22 centa. Tricdyae year ended Oct. 31. ll.5tt.000. 75 cents a 34 cents. Tritaf MMtaf nine months ended Sept. 1173. profit. 17 cents a 1172. no per share figure. IMverul Stttttm six months ended Sept. 1173. 60.9 ivnts ii 1172. S271.US. 58.4 pmlH VS Services 40 weeks ended Get 42.7 rents a class A .share. 1972. profit. 17.3 Beet WINNIPEG Live beef futures close Friday Mar May- Jly 51.50B. Wednesday's 14 contracts. Alberta oil action justified EDMONTON Government intervention in the oil industry is justified un- der special but governments should keep to a minimum any interference with market J. E. president of the Canadian Chamber of years the oil in- dustry has brought petroleum products to Canadians when and where they wanted and I think they will continue to do Mr. King told a service club meeting. The Chamber of Commerce urges governments keep to a necessary minimum any interference with market and that their role be one of defending citizens of modest income from the im- pact of the inevitable increas- ed particularly of fur- nace fuel rather than a massive and permanent intru- sion into tran- sporting and distributing crude oil or its certainly recognize that government intervention is justified under special cir- cumstances and a period of cut-off of oil supplies to eastern Canada from Arab countries is certainly such a special circumstance. while such temporary intervention is we look to the forthcoming federal-provincial meeting at long produce a well- developed national oil policy and strategy which hopefully can be understood and accepted by and which will face the fact that in the long term what is best for Canada is a minimum of government participation in the normal work and function- ing of the oil Rush grain EDMONTON Cana- dian National Railways said Thursday it has started operating a unit grain train between Edmonton and Van- couver to speed the flow of Alberta grain to west coast export terminals. The in a news said the 85-car unit made up entirely of government-owned began operating earlier this month and now is making one round trip a week between Ed- Calder yard and Vancouver. closing of navigation at Thunder Bay within the next month will release ad- ditional hopper can to the railway's mountain region grain car fleet which will per- mit additional unit grain trains to be operated The Hcrald- Business VANCOUVER Prices were up Thursday in moderate trading on the Vancouver Stock Exchange. Volume was On the industrials Suit A was up at on shares. Mer- curia was at .53 on shares. Block Brothers rose .15 to C.50 on shares. Thermo Plex fell .04 to .72 on snares. PWA was down .50 at and International Visual rose .04 to .19. In the Cutlass was up .21 at 173.600 shares. Cop-ex Mining rose .03 to .57 on 126.500 Chares. Green Eagle was at .26 on shares. BX developments was up .25 at 12.05 on shares. Copper Giant rose and Leemac fell .01 to .23. Most active issue in the oils was Seneca up .09 at on 68.033 shares. Whistler was at .30 on shares. Mountain State rose .05 to .45 on shares. Alaska Kenai fell .05 to on shares. Galveston was down .01 at and Vargas warrants were at NEW YORK Stock prices slid lower today in moderately active trading as brokers said investors con- tinued to worry about fuel shortages and their impact on the economy. The noon Dow Jones average of 30 in- dustrials Was down 8.05 at 827.06. The New York Stock Exchange's broad- based index was off .44 to 51.44 as declines led advances nearly three to one among 1.615 issues traded. Brokers said the selling today was a carry-over from Thursday's late dip. provoked by a United States govern- ment estimate that the economy would grow only two per cent next year and an apparent break-off in Mideast peace talks. On the American Stock the market-value index was down .57 to 93 65. Prices included Cutter Laboratories A. up to and Syntex. down at Film Corp. of America slid to On the NYSE. Marcor Inc was off at Polaroid down to Akzona off to Bausch and Lomb. down 2'-z to Chrysler dropped 1 to and General Motors to Canadian issues on the New York ex- change joined in the downward trend. Dome Mines lost 1'z to SI 20. Inter- national'Nickel 1 to Mclntyre to Alcan to Seagrams to Canadian Pacific to and Massey-Ferguson to On the American exchange. Brascan slipped to Quebecor was un- changed at and Scurry Rainbow at Stocks Miscellaneous Montreal by McQuaig WESTERN OILS AND MINES Atton Mines 7.25 Albany Oil .74 Almirwx 7.70 Asamara 13.50 Ashland OH Alta East Gas 7.20 BP Canada 14.00 Brenda Mines 7.75 Can South 5.00 Cdn Ex Gas 3.80 Cdn Homestd 7.10 Cdn Ind Gas Oil 8.75 Cdn Long Is -20 Chleftan 11.00 Cdn Super 59.75a Dome Pete 37.06 Dynasty 10.25 Fort Reliance .20 Giant Mascot 2.55 Gibraltar Mines 10.50 Granisle 9.50 Gt Plains 29.00 Gt Cdn Oil S 12.00 Lochiel Ex 2.75 Lytton Min 1.30 Noble Mines .66 North Cdn Oils 6.60 Numac 15.50 Pancdn Pete Pan Ocean 17.00 Petrol 1.80 Pinnacle .21 Place Gas .51 Ponder .55 Ranger Oil 29.50 Scurry Rain 21.50 Seibens 15.25 Spooner .35 Total Pete 6.45 Ulster Pete 1.16 United Canso 19.75 West Pete 6.25 West Decalta 7.00 MISCELLANEOUS INDUSTRIES Acres Ltd 28.25 BC Sugar A Pfd 14.25 Block Bros 3.45 Cdn Pac Inv A Pfd 32.75 Comm Cap Corp 2.75 Carling O'Keefe A Pfd 24.00 Carling O'Keefe B Pfd 29.50 Crestbrook Ind 8.50 Crowsnest Ind Falcon Copper F and M Trust 5.00 Genstar 16.50 Global Com Unit 43.50 Home A 54.25 Home B 48.25 Hud Bay Co 18.25 Hud Bay OH 46.75 Hud Bay A Pfd 53.00 Hugh Russell 49.00 Husky ON 28.25 Husky B Pfd 42.25 Husky D War Husky E War 13.25 Hys of Canada 3.65 Inter Prov Pipe 7.50 Inter Prov Steel 13.25 Kaiser Res 4.90 Loblaw C Pfd 27.25 Magnasonics 7.50 Pacific Pete 35.00 Pac West Air 7.50 Pe-Ben Oilfield 6.50 Rainier Inc 4.37V4 Royal Trust Sandwsll Teiedyne West Cdn Seed Westfleld Mln Weston A Pfd White Yukon 25.75 5.25 4.35 5.00 1.12 60.00 8.75 PIPE LINE STOCKS Gas A 10.87V4 Alta Gas Ptd 68.50 Alta Nat Gas Inland Nat Gas 9.12'Xi Gaz Metro Gaz Metro A Pfd 67.75 N and C Gas 10.50 N and C B Pfd 22.00 Pacific Trans 10.00 Trans Can Pipe 34.00 Tr Can A Pfd 62.75 Tr Can B Pfd 38.62V4 Tr Can War 6.00 WC Trans 22.37V4 WC Trans Wts 3.80 CALGARY Acroll .56 Barons Oils .04 N. Continental W. Warner .40 VANCOUVER MINES Atlas Explcft .26 Bathurst Norse .73 Dankoe 2.03 Davenport .31 Dolly Varden .18 Equitorial Res .13 Lornex 10.00 Primer .05Vi Pyramid .14 Silver Stan 1.10 Valley Copper 9 40 INDUSTRIALS Col. Brewing 2.85 Key Indus .18 Wardair 1.75 OILS Plains Pete .22 Ponderay Explor Stampede Intl'l Res .76 MUTUAL FUNDS All. Cdn Com 6.68 7.26 All Cdn Div 7.09 7.71 All Cdn Vent 3.45 3.75 Amer Grth Fd 5.07 5.57 AGF Special 2.61 Cdn In Fund 5.03 5.51 Col. Mutual 5.51 6.05 Cmnwlth Inter 13.65 16.00 Cmnwlth Lev 3.34 3.67 Cmnwlth Vent 6.13 6.74 Corp Invest 6.33 6.96 Crpln Stk Fd 5.14 5.65 Dreyfus Fd US 10.58 11.59 Grt Pacific 4.57 5.00 Grp Income 3.25 3.58 Grth Equity 7.35 8.08 In Grth Fd 12.00 13.11 Invest Mut 5.73 6.26 Mut Accum 6.09 6.70 Mut Grth Fd 3.28 3.61 Nat Res 4.95 5.44 NW Cdn 5.41 5.95 NW Grth 4.52 4.97 Prin Grth 4.47 4.91 Prov Mut 7.55 8.25 Royfund 6.79 7.07 Temp Grth 7.57 8.30 United Accum 5.26 Uni Savings 8.06 8.87 Univest 5.97 6.56 Vanguard 5.83 6.39 Toronto industrials by Richardson Securities of Trac. C. Tel. Advocate C. Forest C- Sugar Valley bid. Ind. O'Keefe Can. NW Canada Cellulose Power Central Credit Gas Pfd Con Indust. Cons. Marconi Coin Vickers Dickenson Denison Bathurst Seagram Dome Bridge Discovery East Textile East Stores Falcon Pete fa sco First Mob Home Giant Cdn Oil Sds Grand Motors Lakes Pap Hudson Bay Oil Cda Hydra Lines Iron Sid Walker Joliet Erie Kerr Oil Key Nickel Lake Pipe Langis Group A Madsen U. InlT Malartlc Accept Martin Doug A Intern Stores Nu West Ferg New Bfoe New Corp A B Pine Cent Placer Corp Pax Co Quebec CDA Rio Algom Roman 13.1 Sears Steel of Can Sherritt A Steep Tek Group A Trans Mtn Pip United Can Pip Western Carb W. House Copper Gas Wright Oil Siscoe Mfg Yellowknlfe 's B A Cdn Sd Elec Algoma Imperial Atco Scotia Agra Bell Dom 17.50 52.75 15.50 19.75 1B.OO 29.25 16.00 8.50 4.00 5.25 5.87 'A 23.00 2.25 10.75 16.87'A 3.40 16.50 15.37'A 34.50 26.75 15.87 14 37.00 22.25 8.50 12.62'A 36.75 29.00 7.75 49.50 23.00 33.00 17.75 5.25 53.00 30.00 41.00 27.75 31.75 22.50 8.37'A 19.50 17.12'A 4.80 5.12W 10.75 4.40 11.12'A 19.50 33.62'A 52.50 22.00 22.25 12.50 10.50 10.75 15.00 18.50 8.25 10.50 29.25 14.50 47.00 16.00 16.75 33.75 18.00 9.25 15.25 5.00 6.25 17.50 20.75 5.00 3.00 28.50 18.62' 2 37.50 35.75 34.00 Dry pumps New York by Richardson of Amr. T4T Anaconda Beth Steel Chrytief Comsat Dupom Qen Motors Qutf Int Harvester Kenn Copper Mont Ward Sears Exxon Texas Gulf Texas Co Wlx fjtrn .Woohwrth 24.00 WettwgnouM Bee 38.3714 U.S. 33.25 Tel EMc TORONTO AVERAGES 153.75 20 212.70 down 2.M 49.75 20 GOWS 334.69 down 3.02 21.50 10 Base Metals 94.32 down .60 IS Western Otis 268.26 down 1.93 36.76 Volume 1.319.000 NEW YORK AVERAGES 20 626.83 down 8.27 20 Rails 176.41 up .03 26.7S 15 Utilities 86.35 down .03 65 Stocks 260.20 down 1.55 Gas pumps at a discount gas station in just north of are covered up after the tanks ran dry. John head of a com- pany which operates four such stations on Toronto's says Gulf Oil Canada from whom he has purchased gas for 14 told him they had no gas to sell him. SEC suspends Canadian Javelin stock trading WASHINGTON The U.S. Securities and Exchange Commission suspended trading in shares of Canadian Javelin Ltd. Thursday and fil- ed complaints in court against the Montreal-based company and its chief officers for violating SEC fraud and reporting provisions. Named in the complaints were promoter John C. described as a FROM who maintains residences in Panama City and and William listed as a Toronto lawyer now living in Montreal. Doyle is a director and chairman of Javelin's executive committee. Wismer is listed as president. In its the SEC said it was seeking permanent injunctions against Doyle and Wismer and also asking the court to appoint a special receiver will be authorized to take appropriate steps to ensure that Javelin will make full and accurate public disclosure of all material facts concerning Javelin's activities as well as the correction and amend- ment of any currently inac- curate Although Javelin's primary source of revenue is derived from iron ore the SEC brief current focus of attention is on a copper prospect in has other mineral inter- ests in El Chile and New- foundland. The company reports assets of approx- imately million as of June and has approxi- mately 6.5 million shares of common stock outstanding. is believed that at least 75-per cent of the public float of Javelin's shares are owned by U.S. residents. The stock is listed for trading on the Montreal and Van- couver stock Javelin's difficulties with the SEC go back to 1958 when it was enjoined from violating registration and anti-fraud provisions of the Securities Act and the Exchange Act. The action arose from com- mission charges that sales of unregistered Javelin stock were being made in the U.S. through telephone calls from so-called in Montreal. In that 1958 the com- pany was charged with mak- Pipeline sought for Alberta gas VANCOUVER British Columbia's main dis- tributor of natural gas in the interior has filed an applica- tion for a 100-mile pipeline to get gas from Alberta. Inland Natural Gas Co. the distributing utility serving B.C. from Mackenzie in the north to Trail in the says a second supply source will increase security and decrease gas costs. The proposed- link bridges the rough terrain between east and west Kootenay and ties in the southern end of Inlands long strung-out pipeline with Alberta Natural Gas Co. near Creston. The Alberta natural gas line cuts through the south-east corner of B.C. on its way to carrying Alberta gas to California market. Inland president Robert Kadlec said the 12-inch line insures supply of gas to essential services if its single source from Westcoast Transmission Co. Ltd. is cut. He said the primary reason for a second source is to cut costs of gas which now are high because of fluc- tuations between demand in the winter and summer. If Inland equalizes its purchases from Westcoast by buying its winter from the year-round cost from Westcoast is reduced. The proposed link provides gas service to Montrose and between Trail and Nelson. ing false representations concerning the size of iron-ore reserves at its Labrador pro- ject and with failing to dis- close that large sums of money would be needed to develop them. Doyle pleaded guilty in Con- necticut in 1965 to violating registration provisions of the Securities Act in connection with the 1958 promotion. He was sentenced to three years in 33 months of which were suspended. BAIL' refused to surrender to U.S. officials and jumped Thursday's complaint states. is at present from jus- Since that in Javelin's common stock has been suspended numerous The American exchange has halted trading in Javelin stock on at least five different occa- sions since the beginning of 1970 in connection with the Cerro copper project. halts have generally been preceded by a large vol- ume of trading in Javelin shares with attendant price the filed in federal district court in New York states. almost every trading was set off by false and misleading statements of the Lethbridge featured in paper Lethbridge is featured in a 12-page supplement in the Dec. 1 issue of the Financial Post. The supplement provides editorial stories about city ex- agricultural impact on the economy of the city and Southern Alberta and secon- dary education. Numerous advertisements from businesses and in- dustries in the city complete the promotion about the city. Spend million at sale Cattlemen on buying spree REGINA Cattle breeders went on a virtually- unrestrained buying spree Thursday at the Canadian Western spending a record million on purchases of maine-anjous and limousins. The 115 head of simmental cattle a breed originating in Switzerland that were auc- tioned brought a world record for a simmental sale. The week-long Canada's largest cattle produced about million in total sales last year all II HMytb Alut Af- ficials thought they were do- ing well. But with spent on maine-anjous and on Thursday's sales alone totalled million. Top price in the simmental which was kept going un- til close to two a.m. today by frantic was paid by Triangle Stock Farms of Prid- which bought an eight-month-old female from Oscar Anhorn of for The simmental ob- ject of Thursday's heavy bid- dates back to the middle although the first K..II Canada came only four years ago. Top prices included for a female sold to Chester R. Martin of San Tex- by Bar Eleven Simmental Ranch of and paid to Hugh Stewart of Ver- by Travers Smith Ranch Ltd. of for another female. R. Thompson of spent to buy a full blood maine-anjou bull from Pine Tree Rancho of Sask.. while D. B. Havens of spent to buy another full blood bull from Shaver Beef ;