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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 12, 1973, Lethbridge, Alberta 22 THE LETHBRIDGE HERALD Friday, October 12, 1973 Market prices sharply higher TORONTO (CP) -The To- ronto stock market moved sharply higher in active rnid- morning trading The industrial index, consid- ered the major indicator of market trend, rose 1.83 to 233 38. western oils 2 37 to 256.26, and base metals 1 40 to 108 54. Golds fell .67 to 269 86. Volume by it a.m was 000 shares compared with 882'.000 at the same time Thur- sday Advances almost tripled de- clines. 229 to 81, wiih 182 issues unchanged Steel, oil refining, industrial mining and chemical stocks were among advancing market sectors while con- struction and material and general manufacturing issues declined Alcan rose 'j to S39V Com- mco to Distillers Corp Seagrams to S45'2. Dofasco 's to and Noranda A A4 to Atco Industries fell 's to Bell Canada "s to Canadian Imperial Bank to Canadian Industrial Gas 's to and Dylex A to S9'-i Campbell Chibougamau gained 25 cents to Deni- son 1M Production in the previous week averaged 1 571.174 ban els a dav Daily produc- tion in September was ex- pected to average barrels Volume ol oil carried by major pipelines in barrels a d ,i y i 1 1 e I d s served bucketed i Federated Pipe Lines Ltd 175 (Carbon Creek North. Freeman Judy Creek Judy Creek South Monnville. Swan Hills. Swan Hills South Rainbow Pipeline Co. Ltd. 231.901 iNipisi. Mistue. Rain- bow Zamai Imperial Pipeline Co. 102.- (jti6 Acheson East. Kvcelsior Fairvdell. Golden Spike, Leduc. Woodben. Red water) Texaco Exploration Co IfiB 958 (Glen Park, Wizard Lake, Bonnie Glen. Weterose) Pembina Pipeline Co 937 lUtikuman. Carrot Creek. Cyn-pem. Edson. Niton, Willesden Green i Peace River Oil Pipeline Co Ltd 192.485 (Ante Creek. Giroux Lake. Goose River, Nipisi Kaybob. Kaybob South Sturgeon Lake. Sturgeon Lake South. Little S m o k e y R e d Earth. Simonette. Sunset, Utikuman. Xama i Treasury bills OTTAWA (CP) New 91- day treasury bills issued Thur- sday: million at an average price of 98 404 and average yield of 6 51 per cent Last week- million at 98 479 and 6.49 per cent. 182-day: million at 96.814 and an average yield of 6 64 Last week. million at 96775 and 6.68 per cent. Hog prices EDMONTON (CP) Average prices to 11 a.m. to- day provided by the Alberta Hog Producers Marketing Board with Thursday average in brackets. Edmonton: 54.50, (54 Red Deer 54.85. Calgary: 54.85, Lethbridge. Nil, (54 12) Fort Macleod Nil, Total hogs sold 512. total Thursday average 54 12. Sows average 40 35. Dollar value MONTREAL (CP) U.S dollar in terms of Canadian funds at noon Friday was down 1-25 at 3-10. Pound sterling was up 13-100 at 9-20. In New York, the Canadian dollar was up 1-25 at 99 7-10. Pound sterling was up 1-20 at WINNIPEG (CP) Rapeseed prices turned down the daily limit of 20 cents in several futures today at mid- session on the Winnipeg Com- modity Exchange. Flax remained firm to frac- tionally easier, oats and barley traded marginally on scale-down price patterns and rye was well below previous close levels Volume of trade Thursday was bushels of flax, of rapeseed and of rye Mid-session prices. Flax: Oct. 1 lower877: Nov. unchanged 8.67A; Dec. "z lower 8.34A, May unchanged 8 SOB Rapeseed Vancouver: Nov. 19 lower 5.35A; Jan. 20 lower 5 March 20 lower 5 20B. June 13 lower 5 23A Rapeseed Thunder Bay: Oct. 20 lower Nov. not open, Dec. 10 lower 5.04A, May U lower 5.13A Livestock Calgary CALGARY (CP) Receipts to 11 a.m. today from the Calgary public stockyards totalled head, mostly replacements. Trade was active. There were insufficient slaughter steers or heifers on offer to establish quotations. Cows and bulls sold steady. Cows, Dl, D2: 35.50 to 37. D3. 34 to 3550. D4. 30 to 34. Bulls, good. 40 to 45 Replacement cattle met a good demand at higher prices. Stock calves were mostly steer calves weighing more than 400 pounds, and heifer calves in the 300 to 400 pound range, selling at steady to strong prices. Good feeder steers more than 750 pounds- 50 to 58.60. Under 750 pounds: 53 to 59.10. Good feeder heifers more than 600 pounds- 45 to 50 Good stock steer calves more than 400 pounds: 54 to 60. 300 to 400 pounds: 58 to 68. Under 300 pounds 60 to 70. Good stock heifer calves more than 400 pounds: 48 to 55. 300 to 400 pounds. 50 to 60. Hogs fob to 11 a m 54 85. Earnings Baker Talc Ltd., six months ended Aug. 31- 1973. 1972, Bow Valley Industries Ltd., three months ended Aug. 31 1973. five cents a share, -1972, eight cents Bramalea Consolidated Developments Ltd., nine months ended Aug 31 1973. 38 cents a share. 1972. 16 cents. Interprovincial Steel and Pipe Corp. Ltd., year ended Aug 31 1973, a share; 1972, Lake Ontario Cement Ltd., nine months ended Sept. 30 1973, 45.5 cents a share; 1972, 26.7 cents. Peyto Oils Ltd., year ended May 31: 1973, loss, two cents a share, 1972. eleven cents. United Canso Oil and Gas Ltd nine months ended June 30: 1973, J560.893. 10 cents a share: 1972. seven cents Oats. Oct unchanged 1 481-2A; Dec. unchanged May 1 lower 1 37V2A; July ivz lower 1 38A. Barley Oct. M, lower 2 Dec. 4% lower May 4 lower 2 20' zA; July not open Rye- Oct. 18 lower 2.79A; Dec 18% lower 2.47B: May 17% lower July 19 lower 2.44A. Grain quotes Thursday (basis High Low Close Flax Oct 912 878 878 Nov 898 866 Va 867 Dec 873 834 834'-2 May 870'j 830 830 Rapeseed Vancouver Nov 572 552 554 Jan 546 547 Vz Mar 559 538 540 Jan Rapeseed Thunder Bay Oct 550 537 539 Vz Nov 538 537 538 Dec 514 May 540 540 524 Oats Oct 148'A Dec 143 "z 143V2 May 138 Vz Jly 139Vi Barley Oct 227 226 226 Dec 227% 225 Mav Jly 224Vz Rye Oct 317 297 297 Dec 285% 265% 265% May 283% 264 264 Jlv 263 Chicago grain CHICAGO (AP) Com- modity futures prices moved over an unusually wide range on the Board of Trade Thurs- day and closed on an irregular tone Nearby options in the major pits were mostly higher and distant options lower. Trade was very mixed and once some apparent strength had seeped into the market, prices improved for a few minutes. Some local selling then developed and as it gained momentum all of the major pits became involved Before the sell-off, several nearby soybean options had touched the limit of 20 cents higher while meal climbed a ton and oil nearly 100points. There appeared to be no reason for the movement of prices but it appeared the trade was having some trou- ble assessing the impact of the Middle Eastern conflict, the heavy Midwestern rains overnight and a possibly lower harvest than previous! es- timated. At the close, wheat futures were mixod, December 4.74; corn a r.hade higher, December 2.63; oats mixed, December 1.28 and soybeans mixed, November 6 50. Grain quotations Thursday: Wheat: Dec 4.74; Mar 4.73; May 4.52; Jul 4.13; Sep 4.12. Corn: Dec 2.63; Mar 2.67 May Jul 2.73; Sept 2.70; Dec 2 45; Mar 2.48. Oats Dec 1.29; Mar 1.31; May 1.36; Jul Manning the phones Supervisory personnel at B.C. Tel take to the switchboards in Vancou- ver while the company is being picketed by strik- ing employees of the Oka- nagan Telephone Co., a subsidiary of B.C. Tel. Open-market for rapeseed supported EDMONTON (CP) The Alberta Grain Commission supports the continuation of the open-market system for marketing rapeseed. Marvin Moore. MLA for Smoky River and vice-chairman of the com- mission, said today. In a letter to the president of the Rapeseed Association of Canada, Mr Moore said the commission supports the association in its rejection of marketing controls by the Canadian Wheat Board. The aim of the commission was to ensure that farmers could make their own marketing decisions with as little government in- terference as possible. The letter said discussions should be held to determine ways of eliminating inequities in street pricing throughout the prairie provinces as well as between the prairie provinces and Vancouver or Thunder Bay. Navigation season ends OTTAWA (CP) The navigation season on the country's eight historic canals ends Friday, the northern af- fairs department has an- nounced. The Canadian Press erroneously reported Wednes- day that the season would close Thursday. The canal system includes the Reidea-u, Trent and Murray in Ontario; the St. Ours, Chambly, Ste. Anne and Carillon in Quebec, and the St. Peters in Nova Scotia. Heads WCE K. Bruce MacMlllan, 49, of Winnipeg, has been elected chairman of the board of the Winnipeg Commodity Exchange. m SASKATOON (CP) The feed grains policy of the federal government likely will prevent the development of secondary industry in the sector in western Vancouver, Calgarv. says Professor Gary Storey, a grain marketing specialist at University of by Doherty, McQuaig He said in an interview the OILS Royal Trust 28.00 AND MINF3 Sandwell policy is an indication the Albany Oils 87 Teledyne government may have Alta East Gas 40 West Cdn Seed 6 00 Almmex 680 Westfieid Mm 121 Asamera 15.00 A Pfd under to pressure from eastern interests. Ashland 1350 Wmte Yukon think it is important to Afton Mines 9.25 PIPE LINE STOCKS BP Canada 14.87Vi Alta Gas A 12 00 Brenda Mines 8 15 Alia Gas Pfd cities that the processing industry be Can South 6 30 Alta Nat Gas 20 he said. Cdn Ex Gas 4 10 Inland Nat Gas 15 25 Cdn Homestd 8 55 N and C Gas 10 is the position taken by Cdn Ind Gas Oil N and C B Pfd 22 governments of Cdn Long Is .19 Pacific Trans and Alberta but Cdn Super 55 25 Gaz Metro 4 65 Charter Oils 4 00 Gaz Metro A Pfd 65 new policy does not do Chieftan 1200 Tr Can Pipe Dome Pete 37 B7V, Tr Can A Pfd 61 50 Dynasty 10.50 Tr Can B Pfd 39 00 Fort Reliance 23 Tr Can War said the policy which allowed western livestock Gibraltar WC Trans to buy feed grain at Giant Mascot 315 WC Trans War 2.60 Gt Plains 27 87 Vi CALGARY Gt Cdn Oil S 8 00 Acroll prices than the rest of Canada has been erased. Lochiel Ex 325 Barons Oils feed-freight subsidy Lytton Mm 1.65 N Continent OTA Noble Mines 1.28 West Warn 32 North Cdn Oils 7.80 not been removed and this works to the advantage of Numac 1775 producers and Pancdn Pete Atlas Explor Pan Ocean 20 Bath Norse in eastern Petrol 1 52 Dankoe 1 said. Pinnacle .25 Daven allows them to buy feed Place Gas .60 Dolly Vard .24 Ponder .55 Equitonal in the west import Ranger 3275 Lornex cattle and process Scurry Ram 20 00 Primer in the east to sup- Seibens 14 75 Pyramid 13 Spooner .45 Silv Stand 2 the packing industry Total Pete 4 80 Val Copper 1 1 that region Ulster Pete 87 INDUSTRIALS United Canso 1750 Colum Blew 525 West Pete 5 75 Key Indus professor said many aspects of the policy still must West Decalla 7 55 Wardair 1 worked out MISCELLANEOUS OILS INDUSTRIES PRP Explor 82 Acres Ltd 14 62Vz Plains Fete in price have led to animosity between Aquitame 22 50 Ponder Explor producers and BC Sugar Pfd 13 50 MUTUAL FUNDS Block Bros 295 All Udn Lorn 750 815 Com Cap Corp 2 95 AM Cdn Div 7 94 B in eastern and western Canada for several Cdn Brew A Pfd 26 00 All Cdn Ven 3 94 4 he said. Cdn Brew B Pfd 31 00 Amer Grow F 5 84 6 44 Cdn Pacific Inv 33.62Vi AGF Spe 3 the federal government Crestbrook Ind 13.75 Cdn Invest F 537 5 serious about helping Crowsnest Ind 28.00 Col Mutual 6 27 6 and Prairie regions Falcon Copper Com Inter 1501 1649 F and M Trust 5 50 Com Lev 3 98 4 develop secondary industry Genstar 18 Com Ven 748 retain their population, it Global Com 4200 Corp Invest 6.53 718 Home A 48 50 Corp Invest F 5.45 5 99 Home B 46.50 Dreyfus F US 12 13 13 an obligation to be consistent in agricultural policies. Hud Bay Co Grt Pac 4 84 5 28 Hud Bay Oil 44.75 Grpd Income 375 412 Hud Bay A Pfd 55 50 Grow Equity 8 09 8 89 Hugh Russell 5550 Invest G F 1257 join Husky Oil 2500 Invest Mut 6.11 Husky B Pfd 42. Mut Accum 631 694 Husky D War B 80 Mut G'ow F 4.03 4 43 Husky E War 1175 Nat Res 524 for ol Canada 4 00 NW Cdn 6 00 6 In'ter Prov Pipe 8 55 NW Grow 5 73 6 Inter Prov Steel 1500 Prm Grow 495 Kaiser Res 3 75 Prov Mut 7 91 8 65 Loblaw C Pfd 2750 Royfund 7.14 743 Magnasomcs 7.50 Temple Grow 8 34 gas Pacific Pete 30 00 Unit Accum 5.42 5.96 Pac West Air 10.25 Univer Sav 825 Wash (AP) Pe-Ben Oilfield 700 Univest 642 Canadian mining and oil Rainier Inc 475 Vanguard 719 reportedly will mines, for oil and gas in Stevens County about 50 miles north of Supplied by Richardson Securities ol announcement, made in MINES Burns said Kallio Iron Acme 11 BC Foiesl 2350 Advocate Asb 125 .BC Sugar Ltd., of Toronto, would Akaitcho 117 Bow Valley Ind the venture The Cana- Bralorne 1 90 Cable 17 25 Broulan 40 CAE Ind 1000 Bethlehem 1700 Cdn Brew group initially will earn a 75 per cent working interest in Bovis 2 20 Chemcell wells and acreage with Brunswick 5 70 Cdn Cellulose 7 Can NW Land 8 30 Cal Power 24 Minerals Corp of Canada Tung 3 30 CorOn Cred 2 present holder of the Cassiar CWN Gas 1100 Central Pat 96 Cdn Indus 17 75 Chimo 1 07 Cdn Marconi 3 retaining a 25 per cent carried interest. Conwest 4 65 Cdn Vickers drilling will be in a Cons Rambler 325 Chrysler area where three Com Lake 12 CPR 17 00 Cochenour 60 Commco 36 wells drilled a Craigmont 7.80 Cons Bath of years ago en- Dickenson Mines 310 Cons Gas Denison Mines 44 50 Dist Seagrams 45.75 D Eldona 46 rj0m Bridge 37 showings of both oil and natural gas, the announce- Dome Mines 87 00 Domtar 25 said East Malartic 340 Dom Textile East Sullivan 231 Dom Stores f Falconbridge 80 50 Dome Pete .28 Dofasco First Manlimes 76 Glen Mobile Giant Y K 815 Grt Cdn Oil 7.80 Granduc 11 12' z Qerl Motors Hollmger 49 00 Grt Lakes Paper 29 62V, Hudson Bay 28 75 Gulf Oil Cda 33 (CP) Live Hydra Ex 19 Greyhound 1750 Iron Bay 3.60 Hawker Sid 562'i Iso 2 25 Hiram Walker futures close Thursday Nov -50.45, Jan-51.75B; Johet Quebec 22V, Huron Erie 52.45; May 52.00B. Kerr Addison 12 00 imperial Oil Key Anacon 35 Imasca 29 volume: 18 Labrador 46 75 lm Nickel 37 Shore 2 50 mi Pine 24 Langis Silver .05 Group A 10 FUTURES Madsen R.L 112 lu Inter 2825 Malartic GF .86 Indus! Accept 19.00 Martin McNeely 22 Kaps 5 Gold futures, U.S funds, Win- Maclntyre 54 50 Kelly Doug A 5 Commodity Exchange Meta 14 Laurentide Midrim 18 Loeb 5 Thursday. Intern Mogul 9 15 Loblaw A 5 73 103 OOA; Jan 74 Nu West Homes 9 00 Metropolitan 14 50, Apr 74 108.00; Jly 74 New Athona 14 Massey Ferg 25 New Calumet McMillan Bloed Noranda 56 00 Moore Corp 111.40A: Oct 74- 114.60A. Wednesday's volume; 44 Northgate 4 75 Molsons A 25 Norlex 49 Molsons B 24 Pine Point 36.75 Nachurs Placer Dev 29.00 North Cent Pax Exp 1.30 Power Corp 1287Vz Quebec Man .13 pnce co Rayrock i 00 Rothmans Radiore 31 'Shell CDA Rio Algom 29 37 v; Simpsons 9.25 Roman Corp 1125 Simpsons Sears Sherritt Gordon 1825 Steel Canada 3450 Steep Rock 1.96 Selkirk A 1650 Tek Corp 409 Texaco OF CANADA LTD. Texmont 24 Traders Group A 19.50 United Canso 17 00 Trans Mtn Pipe 16 Alberta Western Mines 3 09 Trans Can Pipe W House Copper Mines 3 25 Union Carbide 17 75 Wnqht Hargreaves 90 union Gas 10 Willroy 1.0B Union Oil Windfall 11 United Siscoe Yellowknife Bear 4 40 Versatile Mfq Zenmac Westeel Westons Abitibi 1450 Woodwards A Alcan 39 50 Wesl Cdn Seed 6 flUte" Algoma Steel 2125 Zenith Atco Ind Jannock 687v, Cdn Imperial i W Agra Ind Montreal 5 Bell Tel 41 75 Nova Scotia Brazilian Trac 1950 Royal d? 53 00 Toronto-Dom 37 T. KUBIK Supplied by Richardson Securities of Canada is witn great pleasure that Amr 50 Westmghouse Elec. 34 25 Anaconda 27 u S Steel 35 B E Shapke, Branch Manager, Calgary Operations, an- Beth Steel 33 75 Gen Tele Elec the appointment of Chrysler 24 75 TORONTO T Kubik as Branch Comsat 57.00 20 Industrials 233 64 up 2 Manager Mr Kublk has General Motors 66 75 20 Gold-, 269 58 down many years with Fruehaul Quit 22.75 10 Base Motals 10884 up 1 70 Int Harvester 15 Westorn Oils 25521 up 1 32 Kenn Copper 36 Volume Montgomery Ward 26 87 '4 NEW YORK Company m various capacities and will be in a position to assist the company's Sears 97 30 Industrials 981 41 up 5 customers with their X-Ron 9387V, 20 Rails 183 99 up needs Me replaces Texas Co 31 75 15 Utilities 10304 up Dunkley who resigned 17.25 65 Stocks 29871 down 1 personal reasons Woolworth 24.12V, volume 11, ;