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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 13, 1973, Lethbridge, Alberta Herald- ,J Business No war effect on markets Saturday, October 13, 1973-THE LETHBRIDGE HERALD SCHWARTZ A AGENCIES f (1972) LTD. By SANDRA INGALSBE Canadian Press Staff Writer War in the Middle East and the resignation of United States Vice-President Spiro Agnew failed to dampen in- vestor enthusiasm this week as Canadian stock markets climbed to record highs The Toronto industrial in- dex, considered the best gauge of market trends, hit an all-time high Tuesday, but that record was broken by substantial gains Thursday and again on Friday The in- dex closed the week at 233 56, up 5.11 The market has ad- vanced steadily the last four weeks The only decline of the week came Wednesday when news of Agnew's conviction for in- come tax evasion and of his resignation sent the New York market plummeting more than 13 points Canadian markets reacted with moderate losses However, the jitters subsid- ed quickly and the markets came back with strong gains Thursday At New York, the Dow Jones average of 30 in- dustrials was up 7 37 to 978 62 this week in heavy trading Analysts have expressed some surprise at the strength and duration of the rally in view of the unsettled situation in the Middle East EXPECT FLRTHER RISE Some observers say in- vestors are valuing the market more on its fundamen- tals rather than emotion While profit-taking may slow the advance, the market can move higher Others take a more cautious view Draper Dobie and Co com- ments "The buying pamr of the past three weeks has re- sulted in Toronto and New York being quite over-bought on high volume A reaction seems to he developing in New York and appears somewhat overdue in To- ronto The firm says it believes Bond prices GOVERNMENT OF CANADA BONDS SVM 9700 9800 8 Jul 102 00 103 00 Sept 8000 8100 Sep' 7900 81 00 3 Sp15 3900 4100 Apr 9900 10000 Jul 100 75 101 75 PROV AND PROVINCIAL GUARANTEED BONDS Alta 8V.% 90 10300 10500 Ont 7 68 89 00 91 00 Ont Hydro 9 94 10500 10700 NB 90 105 00 10700 Nfld 8 74 9900 101 00 NS 92 83 00 85 00 Que 7'.% 74 9900 10100 Alta 8'i% 90 104 00 106 00 Man Hyd 6 91 96 00 98 00 Sask 90 10300 10500 Nfld 90 10400 10600 ACT 8 74 99 00 101 00 Man GT 8 74 9900 10100 INDUSTRIALS Alta Gas 90 103 00 105 00 91 10300 10500 92 10300 10500 90 10300 10500 79 10200 104 00 93 10400 10600 85 10000 10200 90 103 00 105 00 91 104 00 '0600 90 104 00 106 00 90 10000 10200 9 10300 lObOO 80 10200 10500 90 10300 10500 90 10300 10500 91 10300 10500 90 10300 10500 90 10600 10BOO TrCda Pipe 10% 90 10700 10900 W Trans B'W, 93 93 00 95 00 CONVERTIBLES Alta Gas Tr 90 12000 13000 Con Gas Dynasty 7 Acklaid BC BC Bell Bell CP CP Cdn Cdn Nt In Pr Intl N C Steel TrCda Pipe 93.% Scur Ram 7'.% W Trans C S'Al. West Tr 89 81 00 83 00 82 iCSOO 11000 86 11700 12200 91 00 94 00 70 00 73 00 90 00 92 00 88 88 91 IVIERA MOTOR HOTEL Welcomes you to Edmonton io iiolp make vour sUiy more pleasant- wo would like lo introduce you toj all our fncilitips MORE PEOPLE STAY AT THE BECAUSE THE RIVIER OFFERS YOU MORE! Write or Telephone JVIERA MOTOR HOTEL 5359 CALGARY TRAIL that one more increase in prime lending rates by banks in Canada is possible before Christmas "With a nervous eye on in- flation and interest rates, let alone the oil and foreign ex- change ramifications likely from the new war in the Mid- dle the surge is a bear market tally rather than a new bull market The Toronto market's gold index jumped 17 points Wednesday, a move which analysts related to the sharp rise in bullion prices due to concern over fighting in the Middle East The index ended the week at 263 36, up 11 81 A sudden rise in copper prices on commodity markets Friday boosted the base metals index 2 61 points to 109 06, a high since April, 1970 Oil stocks strengthened this week Some analysts are rec- ommending issues with strong fundamentals and exploration potential despite uncertainty about federal and provincial policy The western oil index rose 1825 to 25743, a high since Feb 26 On the Montreal and Cana- dian exchanges, the com- posite index was up 7 40 to 242 45 Industrials rose to a record high of 263 91 Ad- vances outnumbered declines 206 to 135 Combined volume on the two exchanges during the four sessions was 4 88 million shares, compared with 7 42 million last week Value of shares traded increased to million from 83 million At Toronto, trading was ac- tive during the four sessions with 13 M million shares trad- ed for a value of 48 million, cctrpared with 17 73 million and 40 million last week Forum plans fund boost MONTREAL (CP) -Cana- dian Arena Co operator of the Montreal Forum and Montreal Canadiens hockey club, says it plans to raise through an offering of a new class of preferred shares to holders of its com- mon shares The company said it would use the proceeds to repay maturing obligations and the offering would broaden the company's equity base to facilitate further borrowing Sugar price agreement not reached GENEVA The world's major importers and exporters of sugar were un- able to reach agi eement today on a new pricing system, well- informed sources said The sources neither producers nor buyers were prepared to make concessions at last-minute discussions at the end of a United Nations conference intended to produce a new international agreement on the sugar trade The meeting was attended by the heads of delegations of Australia Brazil. Canada, Cuba. Japan, the Soviet Union and UN officials North Sea oil yield LONDON (Reuter) Britain's North Sea oil fields have the capacity to yield at least 70 million tons of oil a year as a result of confirmed discoveries the government said today The Scottish Office said that production should start next yoar in the Argyll oil field, 200 miles from Edinburgh, which has an estimated production capacity of three million tons a year The four largest oil Brent, Thistle and start production in 1975 or early 1976 Dollar value MONTREAL (CP) US dollar in terms of Canadian funds closed Friday down 1-25 at 00 3-10 Pound sterling was up 21-100 at In New York, the Canadian riolldr was up 1-25 at 99 7-10 Pound sterling was up 3-10 at 42 4-5 Electric truck tests continue Fuel A special cart holds bat- teries for an electric truck, enabling a quick power charge. For Complete Livestock Sales and Service. By DAVID R. FRANCIS Christian Science Monitor BONN, West Germany Volkswagen hopes that electric trucks will make up 10 percent of its truck produc- tion in some years This would mean that the giant West German automaker would be manufac- turing about 100 battery driven trucks a day Whether such hopes come true largely depends on the results of a major research and development project launched by a huge Ruhr power company, Rhemish Westfaehsches Elektrizitaetswerk AG, Essen Through a special sub- sidiary, RWE is spending several millions of dollars to test the commercial feasibili- ty of numerous electric vehicles So far, the widespread use of electric vehicles has been hindered by three handicaps high capital costs com- pared with internal combus- tion vehicles, heaviness due to the weight of the batteries and a limited range per battery charge Despite considerable research in most major in- dustrial countries, there has been no major breakthrough in the electrical power soui ce to overcome these han- dicaps Nevertheless, Dr Hans Georg Mueller, managing director of the RWE sub- sidiary, Gesellschaft fuer Elektrische Strassenverkehr says, "We wouldn't spend the money, if it wouldn't be hopeful EXPANDING He adds "We are sure that the economic problems can be solved by mass production By the middle of the next decade, we will have an expanding market'' For RWE, electric vehicles offer an opportunity to sell more electricity, especially in the night when power demand is relatively low For the public, Dr Mueller sees two advantages 1 The electric vehicles are practically pollution free and quieter than vehicles powered by internal combus- tion engines 2 They offer a means of utilizing nuclear power for highway traffic With the possibility of oil supplies becoming limited in the future, a broader use of FRUEHAUF TRAILER COMPANY OF CANADA LTD. Calgary, Altorta Announcement MARTIN T. KUBIK It is with great pleasure that Mr B E Stiapke Branch Man- ager, Calgary Operations an- nounces the appointment ol Martin T Kublk as Branch Credit Manager Mr Kublk hgi spent many years with Fruehauf Trailer Company In various capacities and will be In a position lo assist Ihp company 5 many customers wllh Ihei credit needs He replaces Mike Dunk ley who resigned for personal reasons atomic energy could become essential Anyway, GES has con- tracted for 20 small electric trucks from VW, 30 somewhat larger trucks from Mercedes (Daimler and five from Messerschmitt Boelkow Blohm The electric motors for the vehicles are provided by either Bosch or Siemens DELIVERY Volkswagen recently delivered some 10 of its vehicles, with the remainder being produced this fall Mercedes will deliver its trucks next year MBB did some time ago H. H. Smith Ltd. Customs Broker EDMOMTQN PHONE 9796 CALGARY PHONE 263 8050 I LETHBRIOGE k OHONE 323 81" COUTTS Home Office Phone 327-3822 Monday p.m. Feeder Hog 300 to 500 Head Top Quality Hogs Plus Baby Calves WEDNESDAY a.m. FAT and FEEDER E: Birdie Schmltt Birdie has wo- oir Quarterly Sales. Rep and her success over the >ear has left her in !hc top position in the MLS service lor navmg listings sold Her action is one ot the reasons we call ourselves the Action Agency Call Birdie or one ol her team mates at 328-3331 call FRENCH FRIDAY-10 a.m. FAT and FEEDER CATTLE SALES Friday -1 p.m. Special Slock Calf) f Feede' Sals 500 to 700 Quality rich Calves SLAUGHTER HOGS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SELL FAT AND FEEDER LAMBS DAILY. WE CARRY HARTFORD INSURANCE ON ALL LIVESTOCK Eiportin ot sliughUr hogs Exctllenl ticlHHts tor liedlng ind loidlng hogs. CONSIGN ALL YOUR LIVESTOCK TO. C. E. FRENCH LIVESTOCK EH FRENCH 328-2986 DAN KLASSEN 345-4358 KEN MILLER. Magrath 758-6607 LOU DEJA6ER 345-4489 WHITHENINGER 328-7354 In the Heart ol Canada s Ranching Country Ph Office 327-0101 327-3986 Alberta Slockyardt P O BOX S S 1-7-7, LETHBRIDGE, ALBERTA Crossword HOLY MOSES AND THAT BUNCH ACROSS 1 Stick 5 Air initials 8 Currency exchange fee 12 Pardon 19 Eva 23 Missouri New Mex pass 25 Prison sue 26 Handy work 27 Major and Minor 28 Neighbor of Boys Town 30 Loretta 31 Norse epic 32 Vouches 35 Soil 36 Meantime 39 Sounds of delight 40 Beginning to be suff 42 Civilian safety gioup abbr 43 Follows 48 Clouds in Saint Tropez 1 Dorothy s aunt et al 2 Herd sound 3 Keats subject 4 Annoys 5 Companion of starts 6 Blackbird 7 Darkness 8 Neighbor of Bangla Desh 9 Goliath s town 10 Relative by marriage 11 Of the ear comb form 12 Off the track C-'.docs 49 End comb form 50 I have Lat 54 Primed as an instrument 55 Publisher s product 58 Frog genus 60 Neighbor of Sausalito 63 Enough to provoke 65 Bci bist du schon 66 Study of saints lives 67 the truth i 69 Sing along syllable 71 Hydrocarbon 72 Julep ingredient 73 Renaissance fresco masterpieces 77 Mason's abbreviations 78 Compass pi 81 Pilaster 82 As I was going 85 Way 86 time for a change 87 Gewgaw 89 noltair" par exemplp 91 Women s and ad 92 Debussy hero 95 Short for 96 Hydrocarbon 98 Drsrridiic t IP for A little moon 102 Roman Pluto 104 Middle But 106 Mi hHangelo work 107 Add'n s grandson 109 Rembrandt and wife 110 Silverworker 111 Employing 113 Two Asm ancient Doma 1 Fcedbag iTem DOWN 14 Theology degree 15 Word in heraldry 16 Praise 17 Rivaled 18 Actress Lanchester 20 Old World lings abbr 21 Part of Italian sonnet 22 Gamal 24 Containing gold 29 Trig for example 32 Ancient Greek district 33 L Ouverture 34 Marchers 35 Spartan king 37 Walk 2wds 38 W-irhol subjects 41 Chowder ingredient 44 Short stalk 45 Imbiber 46 Reference book abbr 47 volente (God willing' 51 Shade of gray 52 Bleat 53 Locomotives for short 54 Against the thing 116 Goddesses of the seasons 117 Word on w ne label 119 Bellhops milipus 121 Steak order 0' blocks 125 Ac.ress Christians 176 Annexes 12R U S M A eg 13? Sault Samte Mane 133 couture 135 Exemplary 13fi Luqgagp medals 111 Snnn 144 lames London 145 Frpnch composer 146 Mrll 147 DDE and Ahb 148 Ca-ney 149 Force 56 Rangp of the Rockies 57 Within suff 59 Lesser An tiller island 61 Rolls pi 62 Rustic Fr 64 Spasm 68 In nane only 70 American naturalist 72 Between Avnl and Jum 74 Twiqqy et al 75 Chemical ending 76 Asterisk 79 Bieec ol tescue worker 80 Expressions of inquiry 83 France 84 Neighborhood 85 Flnt prpf 87 Delicately bred 88, Chonrjp 90 And more H? Michelangelo work 93 Draw away 94 S tints in Lisbon 97 Pronoun 98 WW II site 93 On with equal! 100 Without imchjle br 101 Japanese coin 103 Peau de 105 Rocky Mountain Park 106 Circle abbr 108 Saracen leader 112 Indian mountain pass 114 Men 117 Satires M8 Fables var 120 Black Sea perl 121 lake on new cargo 123 Defunct New York hotel 124 Arabian VIP 12b Top pnoriry items 127 Exclamations of con'empt 128 C P A s En lai 130 In ro itmized 131 Soil 134 Rule BriMnnia r Pf '35 for-re? Jeaire 138 Pal. I4C Conpanono' fea'hers 141 Oahu welcome symbol Mass capp fir- rdf-.s JO X bv Morie Fomini'ic llJfllL Railroad M ill ,h 1 Pe'ry Mason Antelope SiatP Furor 6 IvP 9 13 Part of Bridge Ammon a 14 Monkey MLHMire monkey Widows Macaw IS Hercules e Desserts What Connective have sa Slur Moses nqem of Rock ni Jfiy 17 i kinti Gulden Come in 3 i Fnrl Ireland Lnst I th.inks snid (he kid who spanker! on the "Nou I foolish prank rnnks is better house uuosl than nt I Odd kid took kit ;