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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 6, 1973, Lethbridge, Alberta 20 LETHBHIDGE HERALD Friday, OCIODtr 5, 1873 Western oils lead decline TORONTO (CP) Western oils led the decline as prices on the Toronto stock market fell sharply in active mid- morning trading today. The western oil index fell 5.68 to 233.83. The industrial index, considered the major indicator of market trend, was off 1.19 to 226.32 and base metals .17 to 106.99. Golds rose .77 to 250.44. Volume by 11 a.m. was 962.- 000 shares compared with 1.78 million at the same time Thursday. Advances were slightly ahead of declines 124 to 111, with 1M> issues unchanged. The oil refining index had the largest loss among in- dustrial sub-groups with a decline of 13.5 points. Paper and forest, bank, beverage and merchandising sectors were also lower while steel, real estate, pipeline and trust and loan groups gained. Imperial Oil fell 2 to Home Oil A 2 to S45. Pacific- Pete I i to S27. J. M. Schneider 1 to i and Shell Canada lo Wainoco Oil rose :N to S7'2, Dofasco 4 to S30. Life Investors 15 cents to S2.20. Magnetics International five cents lo 81 cents and M. Loeb 1 i to S51 i. NumacOil fell "2 to SIR. Ca- nadian Homestead 25 cents to and Sunningdale 15 cents ID 70. United Canso gained i lo and Pan Ocean '-2 to Denison Mines was up 1 to while United Siscoe lost 25 cents to MONTREAL (CP) All sectors except utilities declin- ed in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a.m. was 361.- 300 shares, compared with 443.600 shares at the same time Thursday Industrials fell 3.91 to 249.32. the composite 2.76 to SCHWARTZ AGENCIES (1972) LTD. Birdie Schmidt In- is 'Mir s.ilos lopreaenlauve mourn (it Anqust She helped I turnings relocate in i' IIP' tor the new school .V.- IM> proud thru our service .11 in iniyi'is and sellers. Our soli iup.iMp.ise ol our tele- .iriil newspaper nclveriismg I or HIT uvirn males at i linn Aqoncy whnre our mono 231.61. papers 1.69 to 154.79 and banks .53 to 276.24 while utilities pained .09 to 145.07. On the Montreal Stock Ex- change. Gulf Oil Canada fell 14 to Great Lakes Paper to Domtar to and Hudson Bay Co. 11 to while Falconbridge Nickel rose to On the Canadian Stock Ex- change. Quebec Uranium Min- ing Corp. rose three cents to 40 cents on 29.987 shares traded. VANCOUVER (CP) Prices were mixed in moderate trading Thursday at the Vancouver Stock Ex- change. Volume was 2.417.948 shares. Thcrmoplex led trading in the industrials, at on 000 shares. Columbia Brew was up ,25 at on shares. Speculators Fund was up .or> at -SI on 10.050 shares, lonarc was unchanged at on shares. EDP In- iliisines fell .01 to .33 and Mer- curia was down .02 at .40. In the mines. Citex was un- changed dt .21 on shares. Chromex Nickel was down .01 at .88 on 90.467 shares. Silver Standard fell .15 lo S3.30 on 85.350 shares. Hrendon was down .02 at .41 on 55.000 shares. Accent Resource was down '2 cent at .17'- and I.eemac was up 02 at .42. In the oils. Stampede was up .04 at -SI. 14 on 48.750 shares. Seneca Development was up .08 at on 27.927 shares. Chapparal was up .01 at .12 on 2H.OOO shares. Vargas was down .OP- at on 24.000 shares. Monterey A fell .04 to and PHP Explorations was unchanged at .92. NEW YORK (AP) -Stock market prices resumed their upward movement today, lifted by news of easier bank credit and signs the economy was slowing comfortably. The Dow Jones industrial average was ahead 6.62 to 962.52 at noon, and advances forced a six to five lead over declines in fairly light trading on the New York Stock Ex- change The NYSE composite index was up .32 to 58.92. On the American Stock Ex- change, however, the market- value index was down .42 to 105.73. Among Canadian stocks, In- ternational Nickel was up :l's at 36'2 and Dome rose :I'H to Alcan was down i at 36' i and Canadian Pacific off 'i at Massey Ferguson gained 's to 25. Exchanges shut Monday TORONTO (CPi Cana- dian stock exchanges and commodity markets will be closed Monday. Oct. 8. for the Thanksgiving Day holiday. The New York and American exchanges will operate normally but U.S. banks and some commodity markets will be closed for Columbus Day. London markets will oper- ate normallv. Average worker beating inflation OTTAWA -f'Pi A finance department spokesman said Wednesday it was not true that the average Canadian worker is losing the battle with inflation. "People are at least holding their own.'' said the spokesman from Finance Minister John Turner's office. lie said g o v eminent calculalions show the latest reported average weekly in- dustrial wage of is about seven cenls. or 1-10 of one per cenl. above a year earlier in terms of purchasing power. O t her est i ma tes that workers had fallen behind by ..oitu' 78 cents a week in worst inflationary bout in 22 years were "erroneous." lie said the comparison of with inflation was only part of the national pic- lure, and that other ligures showed the real disposal in- come of all Canadians had in- creased by fi.2 per cent in the first half of this year com- pared with the same period last year. Disposal income is the figure after taxes and after allowance for inflation. A non-government calcula- tion showed i hat the July average wage of had Gold luluivs UINNII'F.f; iCPi Gold futures. U.S. funds. Winnipeg Commodity Exchange close Thursday. On Jan 74 101.20A. Apr 74 103.60; Jly 74 107.30A: Oct. 74 1I1.00A. Wednesday's volume: Fort v-l'ive contracts. Take a new look at Seagram's 83 iilKlHUBMIUliiiiiii ,_. ty 4 JOSEPH E.SEAGRAMiSONS, LIMITED WATERLOO. ONTARIO Same mellow Seagram's 83 taste. Same distinctive Seagram's 83 bottle. What's changed You'll know when you make.your very next purchase. Good news! Joseph E. Seagmm Sons, Limited, Waterloo, Ontario less purchasing power after considering the 7.7-per- cent rise in living costs over the previous year. This would be 78 cents a week more than I he average wage increase of 1.64 for the same period. Keith Kapsey. president of the Canadian Manufacturers' Association, condemned earlier reports as "unbelievably short-sigh led and irresponsible and en- courages Canadians to go on picking each others' pockets Mr. Hapsey said the con- sumer price index is not in- creasing at as high a rate as I he wage and salary costs fac- ed by producers. "Average hourly earnings in manufacturing have in- creased more than nine per cenl in the past year. The only lesser figure reported by Statistics Canada is the in- crease for employees of hotels and taverns, whose wages rose only H.7 per cent over the year. Livestock Calgary C A L G A R Y C P Receipts to 11 a.m. from the Calgary Public .Stockyards snow sales of about 200 head, m o s 11 y c o w s and replacements. Trade was active. There were insufficient steers and heifers on offer to establish quotations. Cows and bulls sold steady. Cows Dl and 2 36.50-38.50. D3 34.50-36. D4 30-34. Good bulls 41-43.50. Replacement cattle con- sisted of steers weighing more than 750 pounds and heifers in the 600 to 700 pound weight range selling at fully steady prices. Slock calves were practically all steers in the 400 to 575 pound weight range. Prices were steady to strong with good feeder steers more than 750 pounds selling 45-52. Good feeder heifers more than 550 pounds 40-47.30. A few pTQj-jH feeder cows 33-3t) 50 Good stock steer calves more than 400 pounds 55-68. Good stock heifer calves more than 400 47-50.25. Hogs sold f.o.b. Calgary to 11 a.m. average base price 54.85. KINDS ANTIDOTE )U Soviet i-l !i.i 1 he new-. .1 i> e (lev Ta SS T ;-.limiikli.iinedov, of the 111 -iiiule ol Vaccines and Serum- in created Ihe siiakelule antidote. Ready for bottling Bill Chivers of St. Catherines, Ont., chief chemist at Barnes Wines, checks fermenting grapes at the winery. After be- ing crushed, the grapes spend 48 hours in chilled fermenting tanks before being processed into table and dessert wines. Dividends By THE CANADIAN PRESS Dividends arc quarterly un- less otherwise noted. Amerada Hess Corp., series pfd.. 87'z cents. U.S. funds. Oct. 31, record Oct. 15. Campeau Corp., class A. five cents, initial since amalgamation: third pfd.. five cents, initial since amalgamation, both payable Nov. 15. record Oct. 31. Canadian Canners Ltd., Class A. cents, an increase of i cents. Jan. 1, 1974. record Dec. 1. 197.1 Maplex Management and Holdings Ltd., five cents, semi-annual. Oct. 31, record Oct. 15. Earnings By THE CANADIAN PRESS Chemalloy Minerals Ltd. six months ended .June 30 1973. loss; 1972 S387.000. The Hamilton Group Ltd., three months ended July 31: 1973. II cents a share: 1972. 17 cents. The Petro Oil and Gas Co Ltd., six months ended Jum 30: 1973. 5.3 cents i share: 1972. S250.000. 6..' cenls. Popular Industries Ltd. nine months ended .July 31 1973. 30 cents share: 1972, 2] cents. Republic Resources Ltd. year ended June 22: 1973 S134.H47. 4.5 cents a share no comparable figures. Hog pri EDMONTON (CP) Average prices to 11 a.m. provided bV the Alberta Hog Producers marketing board with Thursday average in brackets: Edmonton: 54.75 Red Calgary: 54.85 Lethbridge: No sales Lloydminster: No sales Fort Macleod: No sales i54.85i. Total hogs sold Thursday 5.982. average 55.01. Sows average 40.85. RITA SALMON Announces That Her Office The Secretariat is now open lo secretarial or stenographic assist- ance on an hourly, daily or weekly basis. Telephone 329-4165 Suite 6 Professional Bldg. Lethbridge Winnipeg grain WINNIPEG (CP) Prices were lower in all grains and oilseeds in moderate trading at mid-session today on the Winnipeg Commodity Ex- change. Flax led the declines with losses of more than 20 cents in most months. Rapeseed declines were moderate with Thunder Bay futures losing as much as 11'A cents and Vancouver futures slightly firmer Oats and barley edged lower in light trade, while rye declines ranged from two to seven cents. Thursday's volume of trade was bushels of flax. of rye and of rapeseed. MID-SESSION PRICES: Flax: Oct. 13 lower 8.37A; Nov. 25 lower 8.14A; Dec. 27 lower 7.89B; May lower 7.88A. Rapeseed Vancouver: Nov. 4 lower 5.10A: Jan. 6 lower 5.05A: March 5 lower 5.00; June 7 lower 4.96B. Rapeseed Thunder Bay: Oct. lower 4.94 Nov. 8. lower Dec. 11 Vi lower May lower 4.85A. Oats: Oct. and Dec. not open; May '-i lower 1.38'.'2A; July not open. Barley: Oct. unchanged 1 lower 2.25B: May l'-i lower July not open. Rye: Oct. 2 lower 3.12; Dec. 3 lower 2.81 B: May 3 lower 2.SOB: July 7 lower 2.73B. Grain quotes Thursday (basis High Low Close Flax Oct 863 856 850 Nov 839 Dec 832 815 816 May 829 813 813'i Rapeseed Vancouver Nov 528 514 514 Jan 522; 2 509 511 Mar 510 503'z 505 Jun 505 500 503 Rapeseed Thunder Bay Oct 506 496 "501'a Nov 497'a 497'- Dec 480 477 477 May 495 488' 488' i Oats nc-i Dec 145 143'2 143'2 May 139 Jly' 139'z Barley OcL 2277K 226 Dec 227 226 226 May 227'. 224 227 Jly 224'2 Rye Oct 327TH 318 314 Dec 2977s 283'-i 284 May 295'i 283 283 Jlv 280 Chicago grain CHICAGO (AP) Soybean and soybean meal futures prices declined to limits allowed for one session on the Hoard of Trade Thursday. Oilier commodity futures also closed generally lower on selling influenced, in part, on the weakness in the soybean complex. The loss in the soy- bean pit was 20 cents a bushel and in meal a ton. The three commodities in I lie complex were under some mild selling pressure on the opening, but buyers were about as active as sellers. Karly selling was attributed to some trade reports that weather was generally lair and harvesting work was mov- ing along. Corn and oats showed some weakness on the opening along with sovbeans and when the selling pace quickened in the complex corn and oats fell back heavily. W heat futures gained around six cents early, fell hack 16 cents, but recovered near the close. At the close, soybeans were down the limit of 20 cents a bushel. November 6.05: wheat was eight cents lower. December 4.73: corn was down nine cents. December '2 44 and oats were down around 5" 2 cents. December l.21'i. drain quoiiiuons Thursday: -i. Dec 4.73. Mar 4.65. i. Jul 190. Sep 3.89. Corn: Dec 2.44. Mar 2.48. May 2.51'a. Jul 2.52. Sep 2.42. Dec 2.19. Mar 2.24. Oats: Dec 1.21'..Mar 1.23, May 1.27's. Jul I.15'2. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Friday was up 3- 100 at 67-100. Pound ster- ling was up 2-25 at 19-20. In New York, the Canadian dollar was down 3-100 el ,33-100. Pound sterling was down 1-100 at 8-25. Beef futures WINNIPEG (CP) Live beef futures: Nov 48.SOB: Jan 49.SOB: Mar 5I.OOR; .May 52.00R. Wednesday's volume: 12 contracts. Herald- Business Stocks Miscellaneous Vancouver, Calgary, Montreal (Supplied by Doherty. McQuaig Ltd.) 11 A.M. Trust 26.50 WESTERN S-62'4 AND 4.25 Cdn Seed 6.00 Alta East Min 1 07 A Pld 60.00 Yukon 10.37V4 LINE STOCKS BP Gas A 11-75 Brenda Gas Pld 66.00 Can Nat Gas 20.37V4 Cdn Ex Nat Gas 10.00 Cdn and C Gas 10.37V4 Cdn Ind Gas and C B Pld 22.00 Cdn Long Trans 11.25 Cdn Metro 4.65 Metro A Pld 65.00 Chief tan Dome Can Pipe 32.50 Tr Can A Pfd 59.50 Dynasty Fort V, Can B Pfd 38.75 Tr Can War 6.55 Gibraltar Mines Giant Trans 15.00 WC Trans War 2.65 Gl Gt Cdn Oil .67 Oils .05 Lytton Continental .02 Noble Warn .31 North Cdn Pancdn 9.75 Pan Explor .34 Norse .72 2.00 Place .46 Vard .24 Ranger Scurry 12.50 Seibens Spooner Total 4.87 .46 6.40 09 Pyramid -13Vz Silv Stand 3.25 vai Copper 11.50 Ulster United Canso West Pete West Decalta 5.75 Colum Brew 5.50 Key Indus .20 Wardair 1.90 OILS INDUSTRIES Acres Explor .88 Plains Pete .27 Aquitaine BC Sugar Pld Block Bros Com Cap Corp Cdn Brew A Prd Cdn Brew B Pfd Cdn Pacific Inv Creslbrook Ind Crowsnest Ind Falcon Copper F and M 13.50 2.90 3.10 25.50 31.12V: 14.75 28.00 14.25 Explor .87 Stamp mtl Res 1.08 MUTUAL FUNDS All Cdn Com 7.37 8.01 All Cdn Div 7.80 8.48 All Cdn Ven 3.91 4.25 Amer Grow F 5.74 6.31 AGF Spe 3.11 Cdn Invest F 5.29 5.81 Col Mutual 6.23 6.84 Com Inter 14.89 16.36 Genstar Global Comm Lev 3.94 4.33 Com Ven 7.52 8.26 Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B 44.00 19.50 44.50 57.00 54.00 22.25 42. 12 Invest 6.41 7.04 Crop Invest F 5.36 5.89 Drey Fund US 11.78 12.91 Grpd Income 3.70 4.08 Grow Equity 7.98 8.77 Invest Grow F 12.53 13.70 Invest Mul 6.08 6.65 Mul Accum 6.19 6.80 Husky D Grow F 3.83 4.21 Husky E Res 5.27 5.79 Hys ol Canada Inter Prov Pipe Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete Pac West Air Pe-Ben Oilfield Rainier 8.65 14.25 3.75 27. 12 V'2 7.25 27.00 10.12V4 4.87 Cdn 5.94 6.53 NW Grow 5.61 6.16 Prin Grow 4.87 5.35 Royfund 7.09 7.37 Temple Grew 8.42 9.23 Unit Accum 5.31 5.84 Univer Sav 8.09 8.89' Vanguard 7.12 7.80 Prov Mutual 7.91 8.65 Toronto mines, industrials i Supplied by Richardson Securities of Canada I 11 A.M. QUOTES Trac Tal i ei Advocate Asb. BC Forest BC Sugar Broulan Bethlehem Bcwis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin 17.25 2.10 5.55 8.25 2.82 .96 1.80 4.50 3.05 CAE Ind Cdn Brew Chemcell Col Cellulose Cal Power Coron Cred CWN Gas Cdn Indus Cdn Marconi Cdn Vickers Chrysler CPR Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollinger Hudson Bay Hydra Ex. Iron 7.80 2.70 41.37 .40 84.00 13.75 3.25 2.80 76.87 V, .28 .76 8.05 3.55 48.75 27.87V: .19 Cons Bathurst Cons Gas Disl Seagrams Dom Bridge Domtar Dom Textile Dom Stores Dome Pete Dofasco Glen Mobile Grt Cdn Oil Gen Motors Gn Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker ISO Joliet Quebec Kerr .22VJ Erie Imperial Oil imasca Key Nickel Pipe Lake Group A Langis Utilities Madsen Accept Malartic Martin Doug A A Intern Mogul Nu West Massey Ferg New Bloed New Corp A B Pine 12 Cent Placer Corp Pax Co Quebec CDA Rio Sears Roman Canada Sherritt A Sleep Tek Group A Mtn Pipe United Can Pipe Western Carbide W House Copper Gas Wright Oil Siscoe Mfg Yellowkmfe B 11 A.M. Woodwards A Cdn Seed Elec Algoma Imperial Atco Scotia Agra Bell 15.62V2 52.50 15.75 24.75 20.25 16.50 10.00 4.30 5.87 V, 25.50 2.20 10.75 16.75 4.00 16.25 28.25 16.75 35.00 2950 15.50 43.75 37.25 25.62VJ 13.75 30.50 29.87 10.00 7.90 66.50 29.50 30.75 17.75 5.57 56.25 30.62Vj 41.50 28.75 36.75 10.00 27.75 4.90 12 00 5.12V2 14.50 24.62VJ 52.75 25.25 24.50 9.87 'A 10.25 12.75 18.00 15.00 18.00 B.87V. 13.00 32.25 16.50 53.75 19.00 16.75 32.50 18.00 6.95 7.00 17.00 19.00 23.75 6.00 3.20 30.75 18.62W 37.87 Vi 36.25 New York (Supplied by Richardson Securities of Canada) Amr. Woolworth 25.62V4 Anaconda 2412Vi Westlnghouse Elec. Beth. Steel 33.00 U.S. Sieel 3375 Comsat 57.25 Gen Tele Elec 30.50 Dupont 192.50 TORONTO AVERAGES General Motors 20 Industrials 227.45 down .06 Gulf 24.50 20 Golds 252.58 up 2.91 Int. Harvester 10 Base Metals 106.77 down .39 Kenn. Copper 34.25 15 Western Oils 235.90 down 3.61 Montgomery Ward 26.25 Volume Sears 99.37V4 NEW YORK AVERAGES X-Ron 95 50 30 Industrials 964.25 up 8.35 Toxas Gulf 20 Rails 191.59 up .50 TTexBS Co. 3475 15 Utilities 102.56 up 1.67 Wix Corporation Volume ;