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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 3, 1974, Lethbridge, Alberta Thundn, S. LETHBMOOE HERALD 21 Industrial stocks off; others up TORONTO (CP) Prices on the Toronto stock market were mixed in light mid- morning trading today. The industrial index was down 28 to 152.41. The gold in- dex rose .29 to 354.69, base metals 16 to 64.91 and western oils .01 to 124.70. Declines edged advances 79 to 71 with 113 issues un- changed. Volume by 11 a.m. was 000 shares compared with at the same time Wednesday Canadian Industries fell Vz to Imperial Oil A Vt to Ultramar 30 cents to Royal Trust A Vt to and Thomson New- spapers A V4 to Falconbridge Nickel rose Vz to Canada Malting A to Mercantile Bank to Celanese 15 cents to 25 and Inter-City Gas 10 cents to Gibraltar Mines was off Vs to Camflo V8 to International Mogul 10 cents to and Bulora five cents to Daragon Mines rose one cent to 15 cents Total Pete was down to and Coseka Resources four cents to Canadian Superior added Vs to and Sogepet seven cents to Market trends MONTREAL (CP) Prices lost ground in light trading on the Montreal Stock Exchange today Volume at 11 30 a m was shares, compared with shares at the same time Wednesday Banks fell 1 35 to 213 14, industrials 99 to 157 02, the composite 73 to 154 58 and papers 25 to 96 69 Utilities rose 44 to 114 99 Domtar fell to Abitibi Winnipeg grain WINNIPEG (CP) Good price gams and light activity continued through mid session today on the Win- nipeg Commodity Exchange All prices were up, with many months of rye, rapeseed and barley gaming their daily trading limits Wednesday's volume of trade was 463 000 bushels of feed wheat, of oats. of barley, of corn 993 000 of rye, of flax, and 1 767 000 of rapeseed MID SESSION PRICES Thunder Bay rapeseed Oct 18 higher 9 SOB, Nov 13 higher 967B Dec 20 higher 9 27B May unchanged 924B Vancouver rapeseed Nov 20 higher 10 17B Jan 20 higher 9 72B, Mar 19 higher 9 60A June KVt higher 9 47V4A Flax Oct 21 higher 12 89, Nov 23 higher 1255B, Dec 26 higher 12 43A May 25 higher 12 25A Feed wheat Oct five higher 4214, Dec 10 higher 3 98B, May three higher 4 03B July unchanged 3 90B Corn Dec four higher 4 11B, Mar 1% higher 4 May unchanged 4 18B July unchanged 4 22B Barley Oct 10 higher 3 15B Dec 10 higher 3 07B May 10 higher 3 18'AB, July not open Oats Oct unchanged 220A, Dec 5Vi higher 2 05B May five higher 2 10'AB July not open Rye Oct 15 higher 3 34B, Dec 15 higher 3 37VzB Ma> 14 higher 3 45B, Julv lite higher 3 45'AB Gram quotes Wednesday basis Lakehead High Low Close Flax Oct 1276 1266 1268 Nov 1242 1228 1232 Dec 1222 1214 1217 May 1205 1187 1200 Rapeseed Thunder Bay Oct 962 956 962 Nov _ 954_ Dec 907 May _ 924 Rapeseed Vancouver Nov 997 993 997 Jan 952 947 952 Mar 941 924 941 Jun 932 SlOte S32 Corn basis Montreal Dec _ 407 Mar May Jlv Rye Oct 319 315V4 319 Dec 315 322% Mav 233% 331 Jl> 334 329% 334 Barlev Oct 305 305 Dec 297 289 297 Ma> 308% 302% 308% Jlj 305 Oats Oct 220 218 220 Dec 203 197 Mav 211 206 205% _ _ 210 Feed wheat Oct 416 416 Dec 388 378 388 Max 400 390 400 390 Chicago markets CHICAGO Commodity futures in the United Slates generally improved in price Wednesday with the farm group showing the greatest gams AHer a dav's profit taking and ac- companving decline in prices. soybeans" closed 30 cents a bushel higher on the Chicago Board of Trade. while oil gained its limit of 100 point? and soybean meal rose bj some a Ion Wheat futures advanced Ihe limit of 20 cents a bushel and oats six cents also a limit Com futures gained nearly -nine cents Iced broilers closed steady to about cent a pound tower after a late run of profit Uking Cattle futures on the Chicago Mer- cantile Exrhauec dosed the Until of per temdrcdwsgM tagner to 60 cents live bog futures were S6 cents lower to cents tagaer and pork beflies feJl as as J90 points Shell eggs were Steady to some 85 points Jughtr after an eariy dectae of 99 Paper Vi to Canadian Javelin V4 to Alcan-Vs to Canadian Pacific Ltd Vs to Sony Corp Vs to and Total Petroleum 1 to Mac- Millan Bloedel rose 2 to "A Among speculative issues, Abeourt Metals rose 10 cents to 75 cents after trading 5 000 shares VANCOUVER (CP) Prices were mixed in light trading on the Van- couver Stock Exchange this morning First hour volume was shares In the industrials Jolly Jumper was down 01 at 26 on shares In the mines, Grandora was up 04 at 45 on shares In the oils, Seneca was down 05 at 75 on shares First hour volume in the curb ex- change was 5 000 shares Tapm Copper was up 01 at 70 on Prices were up in light trading Wednesday Total volume was shares In the industrials, Gestalt was down 01 at 56 on shares Block Bros was unchanged at 75 on 3 100, Cornat was unchanged at 55 on and Austin Investments was unchanged at 29 on EDP Industnes was up 01 at 08 lonarc was unchanged at 35 In the mines, Grandora was up 04 at 41 on 209 000 shares Yukon Gold was unchanged at 26 on LP In- dustries was down 03 at 50 on Bathurst was up 02 at 64 on Colt was up at 35 Henrietta was up 01 at 29 In the oils, Seneca Development was up 10 at 80 on Princess was down 01 at 10 on Payettewasup 03 at 18 on Bison Petroleum was unchanged at 70 on Plains Petroleum was down 01 at 09 Cop-Ex Mining was up 02 at 18 On the curb exchange, the total volume was Tapm Copper was up 09 at 69 on Geor Mining was up 07 at 30 on Dasher was up 04 at 44 on Stellako was un- changed at 02% on Santa Santa was up 08 at 24 Ryslo was down 03 at 32 Herald-But 1 t J le 01 Stocks Miscellaneous fe W Vancouver, Calgary, Montreal pi MIDLAND DOHERTY LIMITED WESTERN West AND MINES Afton 5c Pe-Ben Oilfield Serv 04 Rainer w Albany 10 Royal Alta East 05 _ 1 no Ashland Westfield J BP Weston A Brenda White 37% Cda 15 White Cdn Ex ?e Alta Gas Trk i Cdn P? Alta Gas Trk Cdn Ind Gas Alta Nat Cdn Long nn Gaz Cdn Gaz Metro A Chieftan nn Inland Nat Dome N C 62% 52 N C Gas B 12% NuFort Pacific Gas Giant ic Trans-Cda Gibraltar Trans-Cda A Trans-Cda B Gt Cdn Oil Trans-Cda Lochiel no WC Lytton Vc WC Trans 24 North Cdn Numas Pancdn Pan in Western Paloma po Place Ponder Ranger Oil Scurry Bathurst Norsemmes 1900 Cima Resources 6 62% 35 220 Seibens Davenport R on 480 Total Northair 40 Ulster United Canso West Pete West 25 Primer 2 65 Pyramid 3 70 Silver Standard d 90 35 Acres August no Plains 3 BC Sugar C Pfd Block Bros 1 Canbra Foods Cdn Pac Inv A Stampede Int I Res 275 MUTUAL FUNDS 2 50 All Cdn Compound 4 59 2625 All Cdn Dividend t Cdn Pacific Inv s Carling O Keefe A Pfd Carling O'Keefe B Pfd Cornm Cap Corp 1 Crestbrook All Cdn Ventures 1637% Amer Growth Fund 1950 AG F Special 1 55 Cdn Invest Fund 2 80 Eaton 11 322 166 369 1080 Crowsnest Ind 1 Falcon Copper Genstar s Home Oil A s Home Oil B Hud Bay Eaton Leverage 8 25 Eaton Int I Venture 1425 Corp Investors 19 87% Corp Invest Stock Tund 1750 Dreyfus Fund U S 1100 Grouped In 473 352 724 238 p Hud Bay Oil Hud Bay Oil A Pfd J5 Hugh Growth Equity 27 00 Investors Growth Fund '51 50 Investors Mutual 13 00 Mutual 61 865 431 478 Husky Oil B Pfd al Husky Oil E War ,s interprov Pipe War Interprov Steel Pipe Kaiser Res 35 Kaiser Res War Loblaw Co C Pfd ta Nat Resources 355 NW Growth 1 81 Principal Growth 11 62Vi Royfund 335 Templeton Growth 1 35 United Accumulative 2300 Universal Savings 1 55 323 296 494 610 325 636 365 Tax incentives use urged to encourage stock buying OTTAWA (CP) The leaders of Canada's invest- ment industry have called on Ottawa to use tax incentives to encourage more people to buy stocks and bonds. The plea, made in a brief to federal officials in Ottawa, was for a Canada investment plan that would allow deduc- tions from taxable income of qualified investments Qualified investments would be shares of Canadian companies listed on Canadian stock exchanges, federal, provincial and municipal securities, and shares of mutual funds. It would not cover bank de- posits or investments that ma- ture within one year. Under the plan, a limit would be set as the amount deductable from tax- able income This means that a family with worth of a stock, Dollar reserves continue decline OTTAWA (CP) Holdings of official international reserves continued to decline during September, dropping million from a month earlier to 4 million at Sept 30, Finance Minister John Turner announced. The holdings are valued in United States dollars which make up most of Canada's official reserves. Other com- ponents of the reserves include gold, special drawing rights other foreign currencies, and Canada's reserve position m the Inter- national Monetary Fund. At Sept 30, U.S. dollar hold- ings were million; gold million; SDRs million; reserve posi- tion with the IMF million, and other foreign currencies 7 million. The change in the September level of reserves included a decline of million resulting from the retirement of the 1949 issue of U S dollar bonds that matured Sept 1, and an in- crease of million reflecting appreciation of the U.S. dollar value of the SDRs The value of the SDRs can fluctuate daily as a result of a new method adopted by the IMF in July of valuing draw- ing rights. Canada also is us- ing the method to value its of- ficial reserves. Market prospects good for oilseed, feed grain NEW YORK (AP) The stock market fell sharply today under the weight of inflation womes and dis couragement over the recent perfor- mance of stocks themselves The noon Dow Jones average of 30 in dustrials was down 10 48 at 591 05, and losers outnumbered gainers by close to 2 to 1 in light trading on the New York Stock Exchange The Dow which had rebounded after a brief fall below the 600 level Tuesday showed little sign of resistance as it sank below it again today The average last closed below that milestone on Nov 1 1962 Westmghouse Electric was the volume leader, down to A 249.900-share block traded at The NYSE's composite index of listed, common stocks dropped 44 to 3300 Among Canadian issues on the NYSE Dome Mines was up to and Seagrams >4 to while Hiram Walkers fell 'A to S36H Alcan remained unchanged at and Inco at Toronto mines, industrials (Supplied by Richardson becunties of Canada) EDMONTON (CP) There are more market oppor- tunities for oilseed and feed grains available to Alberta producers this year than ever before, John Channon, chairman of the Alberta Grain Commission, Wednesday Mr Channon said in a prepared st'tement that a new federal grains policy, the rapeseed poll and the buoyancy of the world market have resulted in several new buyers bidding for such products. Producers had the option of selling to country elevators for a cash street price, a gram dealer for a cash or deferred price, a domestic crusher for a cash or deferred price, or a terminal elevator for direct sale to exporters Sales could also be made to the futures market through a broker member of the Winnipeg Com- modity Exchange BIG BIKE MAKERS More than seven million bi- cycles are produced in the United States each year and earning a year in salary, could deduct the cost from reported earnings in computing tax returns. Dividends from such in- vestments would be treated as income, but increases in the value of these designated in- vestments would not be re- garded as capital gains. The investment leaders also proposed that individuals be permitted to receive up to 000 in dividends each year tax free. The delegation to Ottawa in- cluded J R Kimber, presi- dent of the Toronto Stock Ex- change, and Andrew Kniewasser, president of the Investment Dealers Association. Officials of the Montreal and Vancouver stock exchanges also attended Mr Kniewasser said later the federal officials appeared to have understood the group's proposal that the law limiting the amount of capital losses a taxpayer can take in one year is too restrictive. Oil pilot plant okay sought EDMONTON (CP) Numac Oil and Gas Ltd. dis- closed Wednesday that it is seeking Alberta government authority to establish an oil sands pilo' plant in northeastern Alberta. Numac, an independent oil company, has filed an applica- tion with the Energy Resources Conservation Board to conduct an ex- perimental in situ recovery operation on its Surmont property south of Fort McMurray Big cattle slaughter called off STEPHENVILLE, Tex (AP) Cattlemen scrapped plans Wednesday to slaughter hundreds of calves to protest economic conditions after Texas Agriculture Com- missioner John White said President Ford may meet with them in Washington The cattlemen called off the slaughter after White spoke to them at the scene and warned them that their plan would create a bad public image "Thousans here in the United States can't afford to buy beef and milk They're not going to understand what you're trying to White said White issued his plea as an estimated 400 cattle-and dairymen gathered on a ranch north of here where they planned to shoot the calves and dump the carcases in a mass grave They had already backed up to the open grave trailers and trucks loaded with cattle shortly before White spoke White climbed atop a flatb- ed truck and told the cattlemen that he had just talked by telephone with the office of Texas Governor Dolph Bnscoe and with David Wheat, a spokesman for President Ford White said Wheat assured him that every effort will be made to set up an appoint- ment with President Ford to discuss the problems of the beef cattlemen and dairymen The ranchers and dairymen nad complained that economic conditions caused them to lose money in raising the animals to maturity Systems 1003 4th Avenue South, Lethbridge Telephone 329-4426 Services Livestock Calgary CALGARY (CP) Receipts to U a m Thursday from theCalgarv public stockyards totalled about 1.000 head mostly slaughter cattle with the ma- jority cows lacking in qualitv Trade was moderately active with both a local and eastern demand Slaughter steers sold steady with heavj Al and A2 steers scarce Steers weighing under 1.000 pounds were discounted to Fed bulls were under pressure at discounts of to Heifers sold steady with good quality on offer Heifers were in short supplv Ows sold unevenly steady with sales to 22 80 Bulls were steady Steers Al to 46 90. A3-44 to 4, Heifers Al. A2-41 to 43. A3-3950 to 41 Cows Dl. D2-2050 to 2240. D3-19 to 2030. D4-15 to 18 Good 25 to 28 40 There were msuf ficient feeder cattle on offer cart} to establish quotations Stock calves were scarce wiUi a few stock steer calves selling from 23 to 32 depending on weight and quality Hogs base 5115 Hog prices A strong demand aitam drove salver tommcs higher. Itas tone by IS cents an ov 906. Chicago wheat 16 to 20 higher. Dec 4S7, Golf wheat not traded. com to cents Jnglier Dec 3 and oats were to higher Dec 3S8 Gram quotations Wheat IX-C4W, Mar May Jill 470 Sap 474 Corn Dec SW4 Mw3S2 May3S7 Sep37S OecSSeOats Dec 1 S8, Mar 3 Mav 1 98 EDMONTON KCPt Pnces to 11 am Ttarsdav provided by Uic Alberta Hog Producers Marketing Board Wednesday's pnces m brackets Edmonton 51.39 Caiman 5115 09t Red Deer 51 J5 Ki Hogs sold to 33 a in 277 Hogs sold Wednesdav. 2 750 average SI 02 Sows avcraff 31 s Mir -i niiTh i in Tvionr bi-n r ,1 utm nc m M-'ulhc r Xi wtn-H ihi o" p nc nclh hit- n HJ-.1 1o IT 1 ?5 each, wherever books are sold ;