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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 1, 1974, Lethbridge, Alberta October 1, THE LETHBRIOOE HERALD 19 TSE gold stocks up; others drop TORONTO (CP) Prices on the Toronto stock market were fractionally lower in light midmorning trading today. The industrial index, wide- ly-based indicator of market direction, was off .26 to 151.17 base metals .22 to 65 .15 and western oils .58 to 126.82. The gold index rose 13 1 to 365.54. Declines outnumbered ad- vances 107 to 87 with 139 issues unchanged. Volume by 11 a.m. was 000 shares, up from at the same time Monday. Canadian Imperial Bank was off to Mercantile' Bank V4 to and Bell Canada Vfc to Dome Pete rose to Falconbridge Nickel to Noranda A to Consumers' Gas to and Inco A to Among golds, Dickenson gained to Giant Yellowknife to Dome Mines to and Camflo Mines V2 to Vi. Pan Ocean Oil was down Vi to United Canso V4 to and Numac Vs to Skye Resources gained 10 cents to 30. The Herald- Market trends MONTREAL (CP) Prices fell in light trading on theMontreal Stock Ex- change today Volume at 11 30 am was shares, compared with shares at the same time Monday Papers Jed the indices' decline, dropping 3 52 to 95 04 Utilities fell 1 27 to 112 50, the composite 111 to 153 29, industrials 1 09 to 156 22 and banks 82 to 210 92 Domtar fell 5fe to Imperial Oil class "A" to Bell Canada Vt to Bank of Nova Scotia to Canadian Imperial Bank to Canadian Pacific Ltd Vt to Price V4 to Toronto-Dominion Bank 'A to S33V4, Brascan class "A" 'A to and International Nickel class "A" to Bank of Montreal rose to Among speculative issues. Gold Hawk Mines rose one cent to 25 cents after trading shares VANCOUVER (CP) Prices were mixed in light trading on the Van couver Stock Exchange today First hour volume was shares In the industrials, Imperial A was up 12Vi at 12Vz on 500 In the mines, Grandora was up 01 at 32 on In the oils, Payette was unchanged at 16 on 2.000 No shares were traded on the curb exchange Prices were down in light trading Monday Closing volume was shares In the industrials, Canadian Javelin was up 12V2 at on Canterra was down 04 at 16 on Daon Developments was up l2Vi at 12% on Wardair was unchang- ed at on Grouse Mountain was up 05 at and Cornat was down 10 at 50 In the mines, Vieco was unchanged at 16 on Grandora was down 01 at 31 on Sonesta was down at 15% on Tournigan was up 10 at 40 on Anglo Bomarc was down at 44% and Tyee was unchanged at 06 In the oils, Princess was down 02 at 10 on 17 500 Cop-Ex was down 005 at 16 on Seneca Developments was down 03 at 69 on Payette was down 01 at 16 on Galveston was unchanged at 02 and Davenport was down 10 at 28 Curb volume was Ryslo was up 04 at 34 on Olympian was down 01 at 30 on Dasher was down 005 at 40 on Geor Mining was up 02 at 22 on Gary Mines was up 02 at 08 and Thor Explorations was up 03 at 28 NEW YORK (AP) The stock market posted another broad decline today, but cut its losses with a late- morning technical upswing The Dow Jones average of 30 in- dustrials, off about 13 points at its worst, showed an 8 76 decline to 599 11 at noon Losers held a 2-to-l lead on gainers at the New York Stock Ex- change American Telephone and Telegraph was the most-active stock, down 1 to A block of the issue traded at that price On the American Stock Exchange, the market-value index was down 33 to 6252 The NYSE's noon composite index of all listed common stocks was down 34 to 33 11 Syntex was the Amex volume leader, off 1 Among Canadian issues on the NYSE, Dome Mines was up 2 to Inco V4 to and Hiram Walkers to Seagrams was down to and Massey Ferguson to while Alcan remained unchanged at Livestock Calgary CALGARY (CP) Receipts to 11 a m Tuesday from the Calgary public stockyards totalled about head, mostly slaughter steers and cows Trade was moderately active with a moderate demand from both local and eastern buyers Slaughter steers sold 50 cents to lower with sales to 48 30 Fed bulls sold under pressure at discounts of There were insufficient Al, A2 heifers on offer to establish quotations Cows were steady with good cows in short supply early in trading Steers, Al. Cows Dl D2- 23 50-25 D3 21 50-23. D4- 17-21 There were insufficient feeder cattle or stock calves sold early to establish a market Chicago markets CHICAGO (AP) Commodity futures Amoved sharply higher Monday over a broad front on major exchanges in the United States and many limit gains were recorded In grain futures, a frost scare over the weekend 'and over the next two nights set off buying in soybeans and products, corn, oats antf wheat Soybeans rose 20 cents a bushel, soy oil 100 points, soybean meal a ton Corn was up 10 certs a bushel and oats sue cents, both limits. Wheat advanced 18 cents just two cents short of a limit move And iced broilers advanced 1'4 cents just one-toll cent short of a limit move Reflecting the strength in grains, commodities on the Chicago Mercan- tile Exchange also posted strong gains Winnipeg grain Business Seek solution to surplus Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN OILS AND MINES Afton Mines 3 60 Albany Oil 23 Alta East Gas 4 00 Almmex 4 25 Asamera 6 75 Ashland Oil 6 00 BP Canada 1000 Brenda Mines 4 10 Cda Southern 210 Cdn Export Gas 1 84 Cdn Homestead 2 65 Cdn Ind Gas 4 00 Cdn Long Island 16 Cdn Superior- 28 Chieftan Dev 4 60 Dome Pete 1700 Dynasty 6 50 Nu Ft Reliance 16V2 Giant Mascot 71 Gibraltar Mines 6 00 Granisle 9 SO Grtn Cdn Oil 51214 Lochiel Explor 1 25 Lytton Minerals 1 12 North Cdn Oil 3 05 Numac Oil 8 25 PanCdn Pete 7 Pan Ocean 7 50 Petrol 1 15 Paloma Pete 1 20 Place Gas 24 Ponder 48 Ranger Oil 12 50 Scurry Ram 19 00 Seibens 6 62% Total Pete 6 25 Ulster Pete 65 United Canso 6 25 Westcoast Pete 2 70 West Decalta 3 55 MISCELLANEOUS INDUSTRIALS Acres Ltd 5 75 Aquitame 1575 11.25 Block Bros 2 75 Canbra Foods 2 50 Cdn A Pfd 25 00 Cdn Pac Inv Carlmg A Pfd Carlmg B Pfd 19 50 Commerce Capital 1 50 Crest Forest 2 75 Crowsnest Indus 12 00 Falcon Copper 8 12Vi Genstar 1425 Home Oil A 18 75 Home Oil B 1600 Hud Bay Co 1062V4 Hud B-ay Oil 21 75 Hud Bay A Pfd 27 00 Hugh Russell C 50 00 Husky Oil 1250 Husky Oil B Pfd 32 00 Husky Oil E War 3 25 Inter Pipe War 1 75 1150 Kaiser Res 3 30 Kaiser Res War 1 20 Loblaw C Pfd 22 25 Magnasonics 1 55 Pacific Pete 1400 Pac West Air 12.62V4 PeBen Oilfield Rainer Inc Royal Trust Teledyne Tnmac Westfield Minerals Weston A Pfd Whitepass Yukon 320 2000 390 340 54 4400 650 Hog prices Monday sales 1200 hogs All classes of weaner and feeder hogs meeting an improved demand Weaners to 20 75 Light feeders under 100 Ibs 18 75 to 2950 Heavy feeders 100 Ibs to 130 Ibs 32 to 42V4 Heavy feeders over 130 Ibs 44 to 47 50 all prices per head Light feeders under 100 Ibs sold for 32 to cwt Heavy feeders over 100 Ibs sold 28 to 34 cwt Bred sows and gilts sold 6150 to per head Boars per head Butcher hogs sold Monday at the Lethbndge yards 53 75 to 5410 base price Of the major pits, cattle futures rose the limit of per hundredweight while live hogs rose 50 per hundredweight, also a limit Pork bellies gained the limit of ISO points, but shell eggs rose up to 200-points In a kind of reflected strength that included virtually all commodity futures, silver rose the limit of 20 cents an ounce, copper was up some 500 points, cotton gained 200 points, orange juice rose 200. cocoa was up 150 points and world sugar gained 190 points. Wool and coffee futures declined At the close, soybeans were up 20 cents a bushel. Nov 878. Chicago wheat was 14 to 18 higher. Dec. 4-94. Gulf wheat was not traded: corn was to'lO higher. Dec 3 87Mt. and oats were six higher, Dec 1 94 WINNIPEG Prices were generally higher at mid-session today on the Winnipeg Commodity Ex- change, although there were signs of weakness developing in some feed grains Rapeseed continued to gain its daily trading bnul of 20 cents a toshd Rye was Uw strongest of UK feed grans. prices as as nine cents a Monday's vofame of trade was 3.089.- 000 busneis of feed wheat, 1.SJ7.0W of oils. of barley. 10.000 of com. 1.467.009 of rye. 842.000 of flax and ISSim of rapesecd Thunder Bay rapesecd Ort 20 higher975, Nov Dec 3B Mjber May 20 Jagber 9J5B Vancoirger raoesced Nov 3D higher S77B. Jan 20 higher Mar 20 higher 9 58 -July S.SSB roonlli, no Flan Oct. one tower 1274A. Nov three higher 1248A. Dec one lower 12J24A. May five higher 12 MA Feed wheat Ort higher 407. Dec one lower -8 A. May one higher 3.S7A, JsJy not open Cora Dec fowlngner4 14. Mar '-4 higher 4 May one higher 4.27A. July four higher 4.26 Ort one higher 3 05B. Dec higher May higher Feed prices WINNIPEG Steep Rock 96 Sunningdate 4 00 Tefc Corp A 280 Texmom United Canso 6.50 Western Mmes 202 WH Copper Mines Wright Hargreaves 1 40 Wiflroy 140 11 Yefflowknfle Bear 2-25 Zetwnac INDUSTRIALS AbftlM 9.25 Atem Z2.75 Atgoma Steel Moo Snd 10.25 Agra hid Brascan A 1175 BC 44 75 Burns BC Forest BC Sugar Bow Valley Ind Cable CAE Ind Cal Power Canbra Foods Can Cellulose Carlmg O'Keefe Chemcel! Coron Credit CWN Gas Pfd Cdn Ind Cdn Marconi Cdn Vickers Chrysler CPR Commco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dom Pete Dofasco Glen Mobile Grt Cdn Oil Gen Motors Grt Lakes Paper Gulf Oil Greyhound Hawker Sid Hiram Walker A Huron Erie Imperial Oil A Imasca A Int Nickel Int Pipe Inv G'p A lUlnfl IAC Ltd Jannock Kaps Ke) Douglas A Laurentide Loeb Loblaw A Metropolitan Massey Ferg McMill Bloed Moore Corp Molsons A Molsons B Nachurs North Cent Peylo Power Corp Price Co Rotnmans Shell COA Cattlemen to study beef problem CALGARY (CP) The Canadian Cattlemen's Association has formed a committee to study solutions to an expected surplus of beef in Canada which could lead to a shortage of beef by the end of the decade. Pete Patterson, interim secretary of the committee, said producers are cutting down the size of their herds by Venezuelan gov 't hikes oil taxes CARACAS (AP) The Ve- nezuelan government put the finishing touches Monday on a study that will permit a sub- stantial increase in taxes levied on foreign oil com- panies. The new increase would go into effect Oct. 1 and is aimed mainly at decreasing the oil companies' "excessive a spokesman for the ministry of mines and hydrocarbons said. "The new increase would be substantial and might range between 10 and 15 per cent on each barrel of the spokesman said. "But a final decision will be announced on Tuesday." The minister of mines and hydrocarbons, Valentin Hernandez Acosta, has said that the increase of the oil companies' income tax payments for the last quarter of this year may exceed the 3 5 per cent recently ap- proved by the Organization of Petroleum Exporting Countries The tax increase approved by OPEC would mean that the foreign oil companies' income tax bill would increase by 35 Fly cattle to China Simp Sears Steel Can A Selkirk A Texaco Trad Gtp A Trans Win Pipe -Trans Can Ripe Umon Carbide Union Gas Union Oil Unites Siscoe Versatile Mig WesKcel Westons Woodwards A BANKS Can Imperial Sootia Royal Tor 0pm 8 1125 1850 11 12V4 8 12% 6 37V4 1662% 2 50 3 70 2.25 4 00 1 52 8 37% 1800 2 65 1175 118714 11 25 23 75 23.50 1325 26 75 31 50 20 00 7 87V4 13 75 1725 21 62% 2 00 5 00 34.50 15.25 22.12% 13 75 4 30 3575 18 00 22 50 20 75 21.50 11-25 5 50 900 1500 5 00 2.00 4.55 625 2.65 4.90 9 00 12.12% 20 75 33 75 1600 14.75 4.55 8 75 2.70 7 75 725 1075 5.25 825 2337% 10.50 3300 925 1112% 7 62% 37 00 800 650 2.65 16.50 1900 1725 21 62% 1225 2630 33 00 New York (Supplied Richardson Securities of Canada) ATTIT T S T 406TA 1400 Friday's vcflwne IIS contracts Ctwysflw Cc-msart Oupont Generafl Motors Gu'H Harvester K'Sffm Mwflgwrwry Ward Sears Exxon Texas GUfl Texas Co Wix CorporaJton 1200 10400 1650 VANCOUVER (CP) Pacific Western Airlines said Monday it will fly a load of Alberta cattle in its Boeing 707 freighter to Shanghai from Calgary Oct. 7. The airline said it will be the first cattle shipment to China from Canada. Last year it flew a load of electronics equipment to China from Calgary in a Hercules freighter. cents a barrel. Such a boost would provide Venezuela with an additional million in revenue this year based on the current oil production of approximately three million barrels a day. Production for the first nine months of this year is down approximately barrels a day as com- pared with a similar period last year Oil revenues this year are expected to reach approx- imately billion, triple the amount received last year. M-F acquires German firm LONDON (CP) Massey- Ferguson Ltd. of Toronto, which has worldwide interests in the manufacture of in- dustrial and construction machinery, has made a major new investment by acquiring a big West German operation based in Hanover. The agreement involves Hanomag, the construction machinery division of Rhein- stahl a.g, a group specializing in steel, shipbuilding and engineering "The total cost is likely to exceed 120 million west German marks depending on the level of said a Massey- Ferguson statement released here today selling heifers and cows in order to pay bills, and herd sizes may remain small because producers are not receiving enough of a return to cover expenses. "We are going to see an increase in the volume of cat- tle and a change in the mix more females than before during the next few months and years. He said. While the increased volume of beef offered for sale may result in lower prices, par- ticularly on cow and heifer meat, prices will probably rise dramatically toward the end of the decade as herds produce fewer slaughter cat- tle for market. Mr. Patterson said that m order to consume the increas- ed volume of beef which will be offered to consumers, the per capita consumption of beef will have to rise from pounds to 115 pounds per year He said the committee will undertake a public informa- tion program, including some advertising, to show con- sumers that beef is still a good food buy. He said "consumers are now confronted with a choice they have to decide whether they want beef as part of their diet." "This surplus is being created by returns which are not adequate for the producer to meet his said Mr Patterson "Farmers are cutting down herd sizes and if the consumer isn't willing to pay a price which gives the producer a fair return then he won't produce cattle PROFIT GOES UP ATLANTA, Ga Coca-Cola Co. has announced an 11-per-cent increase in net profits in the second quarter to million and a second increase this year in quarterly dividends The softdrink firm said it is increasing its quarterly dividend three cents to 53'A cents M. C. Slavich, C.L.U Representative LETHBRIDGE Tel. 327-5514 E. Mayeske Representative LETHBRIDGE Tel 327-5514 Government said you could keep more of your income tax dollars. Why didn't you? We can help you keep more of this year's income. Call us today for a look at the luture. The Manufacturers L-fe Insurance Company 50.50 5762% 22 SO 9.25 WooHworth 10 75 Westing Bee 1000 US Steel 36 Gen Sec 18 00 TORONTO AVERAGES 20 Industrials ISO 98 flown 45 20 GoKJs 368 00 up 1S.501 10 Base Metals 00 down 37 IS Western CDs 123 11