Lethbridge Herald (Newspaper) - October 15, 1970, Lethbridge, Alberta
Rally Interrupts Market Slump TORONTO CP) - The Toronto stock market was up sharply in light mid-morning trading today. On index, industrials gained .70 to 168.33, golds 1.12 to 177.64, and base metals .22 to 97.72. Western oils fell .27 to 186.47. The rally interrupted four consecutive sessions of losses. Volume by 11 a.m. was 596,000 shares compared with 676,000 at the same time Wednesday. Gains outnumbered losses 94 to 80 with 153 issues unchanged. Inco gained % to $45%. The company raised its nickel export price by five cents a pound, in terms of U.S. funds, or about four per cent. It also increased its domestic nickel price to $1.36 a pound from about $1.32. Among other rising issues, Falconbridge climbed IV2 to $150, Royal Bank % to $227/8> Shell Canada % to $33% and Lake Dufault % to $17V4. Thomson Newspapers dropped V4 to $19y4, Bethlehem y4 to $16y4, Campbell Red Lake Va to $27, Canadian Superior Oil % to $27% and Supertest ordinary Y4 to $40. PRICES MIXED MONTREAL (CP) - Prices were mixed in active early afternoon trading on the Montreal sotck market today. Industrials and the composite index were up while utilities, banks and papers declined. Canadian V i c k e r s dropped $13A to $6y4, B.C. Telephone $1 to $61, Canadian International Power % to $25y2, Distillers-Seagrams % to $49 and Aqui-taine % to $23%. Highlighting advancing issues, Falconbridge climbed $1*4 to $150, International Nickel $1 to $45%, Scott-Lasalle % to $25y2 and Dome Petroleum % to $70^. On index, industrials rose .49 to 171.44 and the composite index .29 to 166.62 while utilities were off .19 to 140.06, banks .13 to 178.16 and papers .24 to 87.20. Combined volume on the Montreal and Canadian Stock Exchanges to 1 p.m. was 674,000 shares, compared with 594,400 at the same time Wednesday. MODEST GAINS NEW YORK (AP) - The stock market posted modest gains today in slow trade. At noon, the Dow Jones average of 30 industrials was ahead 4.32 points to 767.05. Oil stocks were among most active issues today. Other noon prices on the NYSE included: International Nickel, up 1% at $45Vs, and RCA, down 5'8 at 23'4. Mclntyre Porcupine tacked on 3% points to $170 among Canadians. Dome gained a point to $63%. Walker Gooderham was up % to $43%. On the American Stock Exchange, Scurry Rainbow Oil. was up % at $23%. Jupiter Corp. was off % at $8%. Feed Grains Trading Is Increased WINNIPEG (CP) - A strong emphasis on feed grains has highlighted increased trading volume on the Winnipeg Grain Exchange in the last few months, the exchange president said Wednesday. J. E. McWilliam, addressing the exchange's annual meeting, said "we are pleased to see the long delayed recognition of these grains in world commerce." "The concept of marketing Canadian feed grain competitively in global trade is long overdue and truly reflects our members' efforts in this field over many years." Mr. McWilliam said marketing of feed grains must receive full concentration, j On another subject, he said the 1 the utilization of commodity markets in the United States is developing rapidly, showing a 400-per-cent growth in dollar values over the last ten years. "Development and expansion have been very rapid, and if we continue to follow the trends of our neighbor we can look for similar developments in Canada," he said. "As Canada's only commodity exchange, it is in our interest to foster and promote these developments." Court To Decide Egg War Issue By STUART LAKE OTTAWA (CP) - The Supreme Court of Canada will be asked Monday to determine whether the Quebec egg marketing board is acting within its powers in controlling the import of eggs into the province. By controlling the flow of eggs from other provinces, the board has started a trade war among the provinces. Ontario, British Columbia and other provinces struck back by passing legislation aimed at controlling entry of Quebec chickens. Attorney-General A. H. Mac-kling of Manitoba, who is to argue his province's case Monday, says the Quebec action is costing Manitoba farmers about $10 million a year. In documents filed with the ALL CLASSES - INSURANCE AUTO - HOME BUSINESS - FARM 706 3rd Ave. S. TORSTf R AGENCY Phone 327-2793 INVESTIGATE OUR LEASING PLAN! Business firms, executives, salesmen, and professional men are finding that leasing is a sound idea. Lease A Brand New CHEVROLET, OLDSMOBILE, CADILLAC, CHEVELLE, MONTE CARLO, CAMARO OR VEGA or certain models CHEVROLET TRUCKS. For complete information contact- BENY AUTOMOTIVE ENTERPRISES LTD. Boris Koreshenkov. Insurance and leasing representative 2nd Ave. and 8th Street S. Phone 327-3147 court, Mr. Mackling criticizes the federal government for not referring the matter to the high court on constitutional grounds. "In view of the urgency of the situation and the continuing financial loss being suffered by its egg industry, Manitoba is left with no alternative but to approach the Supreme Court of Canada direct," says Mr. Mackling. Hog Prices EDMONTON (CP) - Prices to 11 a.m. supplied by the Alberta Hog Producers Marketing Board: Edmonton: Quoted 23.75 to 23.85. Selling 23.75. Wednesday average 23.97. Red Deer: Quoted 23.75 selling 23.75. Wednesday average 23.89. Calgary: Quoted 23.75, selling 23.75. Wednesday average 23.94. L e t h bridge: Quoted 23.75, selling 23.75. Wednesday average 23.51. Lloydminster: No sales. Wednesday average 23.50. Total hogs sold to 11 a.m. 748 Sows at all points 15.25. Total hogs sold Wednesday 5310. Provincial average 23.91. REPORT AGENTS KILLED SEOUL (AP) - South Korean troops killed two North Korean agents today in a battle 30 miles north of Seoul, the defence min istry announced. The announcement brought to eight the number of North Korean agents reported killed south of the demilitarized zone in four gun battles this month. The Royal Trust Company Rights to purchase Additional Shares The Royal Trust Company is offering to shareholders the opportunity to purchase one additional share at $21 per share for each eight shares held on September 25,1970. Shareholders should exercise their rights and subscribe to the additional shares to which they are entitled, prior to expiry date of October 23,1970 at 4.00 p.m. We recommend that investors who are not now Royal Trust shareholders consider the purchase of shares of this leading Canadian trust company. The services of our organization are available to assist in the subscription for shares or for the purchase or sale of shares or rights. A prospectus covering this issue is available at each of our offices. WOOD GUNDY Wood Gundy Securities Limited. Room 204.505 8th Avenue South West, Calgary. Alberta. Phone: 269-7901 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE (11:00 a.m. Quotes) CTT:00 a.m. Quoresi 01.'00 a.m. Quotes) INDUSTRIALS Abilibl..... Alcan...... Algoma Steel . Atco Ind . . Allan Sugar . , Bell Tel . . . Brazil Trac . , B.C. Tel ... . . Burns ... . B.C. Forest . . B.C. Sugar . . CAE Ind ... . Cdn Brew . . . Chemcell .. . Col Cellulose . Cal Power . , Coron Credit . CWN Gas ... . Cdn Indust . . Canada S S . , Cdn Marconi . CdnVickers . Chrysler . . , , CPR ..... Cominco ... . Cons Bath ... Cons Gas ... . Dist Sea . . Dom Bridge . Domtar . . Dom Textile . Dom Stores . . Dome Pete ... Fam Play ... . Fd of Amer . . Gt Cdn Oil . . , Gen Motors Gt Lakes Pap Gulf Oil Cda . Hawker Sid . . Huron, Erie . Hiram Walk . Impellal Oil . Imperial Tob . Int Nickel . . . Int Pipe .. . . Inv Gp A ____ Int Utilities . . Indust Accept Laurentide Kelly Doug A . Loeb ... . Loblaw A . . . Metro Stores. Massey Ferg . McMillan Bloe Moore Corp . . Molsons A . . . Molsons B ..... North, Cent . . Pembian Pp . . Power Corp . . Price Co ... . Rotnmans ... . St Law Corp . . Shell CDA . . . Simpson's . . Simp Sears . . Steel of Can . . Selkirk A . . Texaco � . Traders Gp A . Trans Mtn Pp . Trans Can Pp Union Gas Union Oil Versatile Mfg . y.'esteel � . Union Car . . . Weston's S Woodward's A West C- rd Zenith F''' BANKS Monntrea, "' Nova Scotia . . Royfl ...... Tor-Dom ... MINES Acme Advocate Asb. . Akaltcho . . Area Mines ... , Belcher Iron . . Black Bay .... Bralorne ..... Broulan 7.50 22.00 13.25 10.50 7.00 43.50 13.(TO 61.00 e.75 24.25 15.50 4.65 7.50 4.50 6.00 25.00 1.20 11.12"j 1.7T/2 25.50 3.25 6.00 25.00 63.i42,000 ofyTap�s^eg'"and 321,-000 5K-C}�'. Export loadings of Canadian wheat Wednesday included 74,-480 bushels to Britain, 921,937 to China and 606.453 to Japan. The weekly tender of the Japanese Food Agency accepted 560,000 bushels of barley but rejected all Canadian wheat offers and confined its wheat buying to U.S. purchases. -Thursday, October 15, 1970 - THE IETHBRIDGE HERAID - 19 Wheat Glut Eases Thanks To Canada MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Roadhouse and McCuaig) LAST BID OR SALE (17.-00 a.m. Quotes) cll:00 a.m. Quotes) (u-.OO a.m. Quoresl WESTERN OILS Alminex ...... Asamera ..... Banff....... .BP. Oil Gas .. Can South .. . Cdn Ex Gas ... Cdn Homestd Cdn Ind Gas Oil Cdn Super . . Cen Del Rio ... Charter..... Chieftan . Dynamic Pete Gt Plains ..... Mill City ..... New Cont ..... Numac ...... Permo....... Petrol ....... Pinnacle ...... Place Gas ... . Ponder ...... Ranger Scurry Rain ... Spooner West Decalta MISCELLANEOUS NDUSTRIALS Lake. Cem Jefferson 5.80 Joutel 16.37V2 Kaiser Res 12.62V2 Kam Kotia 5.20 L Ont Port 4.40 Mentor Newconex ... . Pacific Pete ... Rank Org ..... Shell Inv Shell Inv Wts .. Sicks Rainier West Cdn Seed. White Yukon CALGARY Acroll ...... Ana Pete ..... Barons Oil ... . North Cont ... . Plains Pete ... West Warner .. Madison ...... Rexdale PIPELINE 5.00 7.60 10.25 37.50 11.75 6.25 10.00 1.32 28.25 2.11 1.02 7.55 .86 1.45 .95 1.35 .65 13.75 1.80 .46 6.25 28.50 15.75 33.25 15.25 5.73 6.29 3.07 3.38 9.90 10.83 4.98 5.44 4.79 4.23 4.65 6.89 3.58 4.37 . 3.69 . 6.19 4.27 6.81 23.17V2 Alta Gas T 1.96 6.00 1.32 .O8V2 . . .06 . . .03 .42 .43 .30 .13 STOCKS 5 27 4.65 5.11 7.52 3.93 4.80 4.05 6.77 4.69 7.48 .21 .21 Aquatalne Brit Nfld . . Cdn Brew A Pfd Cdn Hydro Car Cdn Pacific Inv Cygnus A ..... Cygnus B ..... Cum Prop .'.. . Gt Cdn Oil S ... Home A ...... Home B ..... Hud Bay Co ... Hud Bay Oil Hud Bay Oil Hugh Russ Husky Oil . Husky Oil War Inter Prov Pipe Intl Utll Pfd . Inter Steel Pipe 10.37'A Growth Equity 1.12 Group In S . IO.&2V2 Invest Grow 1.36 Invest Mut . Mut Accum F Mut G F ... Mut In ..... Nat Res .. N. W. Fin' ... N. W. Grow .. Principal G 3.62'/2 Prov Mutual . 2.70 United Accum 17.37V2 Universal Sav VANCOUVER Anuk...... Arctic Mining ... Arias Explor ......72 Beth Copper ... 16.50 Bornite Ridge ... Block Bros ...... Brenda ...... B.C. Spgar .. Captain Internat .. Churchill Cop . . Alta Gas T L- A 45.87V2 Coronation Credit Alta Gas Nat 24.00 Crestbrook F Ind . Cdn West Nat Gas 14.75 Croyden..... Inland Nat Gas . 10.75 Dolley Varden ... Northern Central 13.87V2 Dynasty ....... North Cent B Pfd 29.75 Giant Mascot..... 29.62V2 Gaz Metro 5.12V2 Granisle 15.50 Gaz Metro Prd A 61.00 Key Indust .... , 23.25 Trans Cdn P . . 33.00 Hy's N. N. .. 5.00 Trans Cdn P A 63.00 Inter Brew ..... 5.37V2 Trans Cdn P War II.62V2 Jericho ....... 11.00 Westcoasf Trans 22.25 Lornex...... .. Western Pac 5.12V2 Madrona ....... MUTUAL FUNDS New Cronin ... . A G.F. Special 2.23 New Imp Mines All Cdn Com .. 6.62 7.24 Okanogan Helicop Flax High Low Close Pfd 72.00 A 24.00 5.25 Pfd 4.00 20.12W 21.50 14.00 40.75 54.00 20.00 12.75 6.95 All Cdn Vent Amer Grwo F Cdn Invest F Collective Mut Comwith Lev 12.62V2 Corp Invest 28.75 Corp In S F 6.87'/j Drey F U.S. .. 6.62 3.34 3.65 Primer 4.54 4.98 Pyramid . 4.30 4.71 Silver Standard 5.43 5.96 T. C. Explora 2.94 3 22 Troian 5.04 5.51 Westcoast Res 4.55 4.97 Western Explora 15 3.45 9.75 15.50 3.25 2.25 1.15 7.00 .40 .52 6 50 3.40 12.50 . 55 2.85 4.60 . .10 7.40 . .34 . .10 . 2.01 3.15 . .24 . .58 1.45 . .36 , .36 . .18 .31 Oct 272i-s 270% 272% Nov 2647s 263 264 Dec 244% 2427a 244 May 254 252]4 253% Rapeseed Vancouver Nov 258V4 254% 256% Jan 256M> 251% 253% Mar 249% 245% 247 May 248% 244 245% Rapeseed Thunder Bay Oct 256 Dec 239% 238% 238% Apr 248Vi 243% 244% Oats Oct 87 86% 87 Dec 86% 86V4 86V4 May 85% 85% 85 V4 Jiy 87Vi Barley Oct 1277s 126% 1277/s Dec 126% 125% 126V4 May 128% 126% 128% Jlv 127% Rye Oct 101 Vi Dec 104 103Vi 104 May 111 110V4 111 Jiy' 114 10 11.62 Utica ............72 NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T .. 43.87V2 Sears ......... 68.87V2 10 Base Met 97.98 up .48 Anaconda...... 22.37V2 Std Oil NJ ..... 68.371/2 15 West O 186.62 off 12 Bth Steel .....21.87V2 Texas Gulf.....117.37V2 Volume 1,287,000 Chrysler ...... 25.25 Texas Co........ 32.87i/2.,, Comsat ....... 44.37V2 Woolworth ..... 35.00 NEW YORK AVERAGES Dupont .....117.50 Westinghouse El .64.121/2 30 Indust 768.21 up 5.48 General Motors .. 72.75 U.S. Steel ..... 30.62V2 20 Rails 155.33 up 2.87 Pnt"Harvester ll.UV, TORONTO AVERAGES � Utll 106.21 off .23 Kenn Copper .. 40.37V2 20 Indust 168.57 up .94 65 Stocks 246.94 up 2.10 Mongom Ward .. 26.12V2 20 Golds 179.02 up 2.50 Volume 7,020,000 Potato Prices WINNIPEG (CP) - There were bids and offers near current levels in the March and May futures, but no trades on the Maritime potato futures market Wednesday. Open High Low Close Nov 2.25N Mar 2.55B Apr 2.05N May 3.00B Beef Futures WINNIPEG (CP) - The live beef futures market was quiet Wednesday. There were bids and offers near current levels in March and one trade in November future. Lethbridge Livestock (Supplied by Canada Department of Agriculture) On offer to 11 a.m. 215 cattle. Receipts mostly slaughter bulls and cows. Trade was slow to active in spots. Good and choice butcher steers meeting pressure prices 25 cents lower. The few butcher heifers on offer sold at strong prices. All classes of cows were meeting good demand selling $1 or more higher. Bulls meeting very good demand selling about $1 higher. Choice steers 26.50 to 27.20; good 26 to 26.50; medium 25 to 26. Choice heifers 26 to 26.50. Good cows 21.50 to 22; medium 20 to 21.50. Good bulls 20 to 23.70. Feeder cows 19.50 to 22. Butcher hogs sold Thursday morning f.o.b. Lethbridge 23.75 base price. Light sows 15.25 dressed weight. Bv CARL MOLLIXS OTTAWA (CP) - World wheat markets are slightly less cluttered by surpluses this fall largely because of Canada's sharp curtailment of its production last summer and a substantial increase in August export shipments. Figures published in the monthly wheat review Wednesday by the Dominion Bureau of Statistics show total supplies available for export Sept. 1 in the four major exporting countries down by five per cent to 2,958 million bushels from 3,100 million a year earlier. But the total equals about two years of average export shipments by the four major producers. The year-to-year reduction in Canada's share-down by 213.6 million bushels to 1.128.7 million -outweighed increases in Aus-trailia and Argentina. The U.S. supply changed only marginally in the year with a reduction of less than five million bushels to just over 1,393 million. EXPORTS TRIPLE Canadian wheat and flour exports in August, first month of the new crop year, amounted to 45.7 million bushels-almost triple the amount in August, 1969. The August export shipments just about matched tallies for that month in 1964 and 1965. standing second only to the record 67 million bushels shipped oht in August 1969. The increase in Canadian exports accounted for most of an advance of more than 50 per cent in total exports by the four main producers, to more than 125 million bushels from 82 million a year ago August. U.S. August exports were up by about 14 million bushels to 51.3 million, Australia's slipped by 2.6 million bushels to 21.8 million and Argentina's moved ahead of 1.3 million bushels to 6.4 million. RECORD STOCKPILE The Canadian stockpile carried, over at the end of the crop year July 31 amounted to a record 1.011 million bushels. But the small new crop brought total available Canadian supplies for the current crop year down to 1.3)9.4 million bushels from 1,536.1 million last year. After subtracting estimated domestic requirements of 175 million bushels, that left Canada 1.174.4 million bushels for export or surplus this crop year, compared with 1,357.7 million last year. Exports in the last crop year amounted to 346.6 million bushels. But with brisker sales and a quicker start to export shipments this year, the total is expected to be between 400 million and 500 million bushels. Calgary livestock CALGARY (CP) - Receipts to 11 a.m., 1,950 head, mostly good to choice slaughter steers. Trade was active with a good out-of-province demand. Slaughter steers sold steady to 25 higher with sales to 28.30. Heifers were steady with no strictly choice kinds on offer. Cows were mainly medium and canner kinds with all grades selling steady. Choice steers 27.50 to 28.10. good 26.50 to 27.25. medium 25.50 to 26.25. Choice heifers 26.25 to 26.70, good 25.50 to 26.25. medium 24.50 to 25.25. Good cows 21 to 22.10, medium 19.50 to 20.50. canners and cutters 15 to 18.50. Replacements were mainly stock calves with medium to good quality and most were in the heavy weight range. Prices were generally steady. Good feeder steers 750 lbs. and up 27 to 29.10, feeder steers near 600 lbs. 33 to 36, good feeder heifers 600 lbs. up 26 to 27.25. Good stock steer calves 35.50 to 40 depending on weight, good stock heifer calves 30 to 32.75. Hogs base price 23.75. r COMPUTER ACCOUNTING AND MANAGEMENT LTD. Data Processing Services 507 CANADA TRUST BLDG. TELEPHONE 328-7883 ANNOUNCEMENT The University of Lethbridge Faculty of Arts and Science Is currently planning its 1971 on and off campus Spring NIGHT CLASSES and on campus SUMMER SESSION program. If you have in mind a coure of particular interest to you, let us know. Every effort will be made to offer courses for which there is sufficient demand. PLEASE WRITE NOT LATER THAN TUES., OCT. 20, 1971. TO: M. Boldt, Continuing Education, Faculty of Art and Science, University of Lethbridge, Lethbridge. Open Nov Jan Mar 29.50 High Low Close 28.85B 29.25N 29.50 ATTENTION! FARMERS and STOCKMEN If You Want TOP DOLLARS for your LIVESTOCK . . . Consign to PICTURE BUTTE AUCTION MART Ideally located in the centre of large cattle feeding and hog raising area SATURDAY, OCTOBER 17th at 1 p.m. REGULAR CATTLE SALE 400 TO 500 HEAD Highlighted By . . . 80 HEAD BLACK WHITE-FACE CALVES FROM ONE OWNER Plus REGULAR RUN OF FAT AND FEEDER CATTLE Also 300 TO 400 WEANER, FEEDER HOGS AND BROOD SOWS FOR FURTHER INFORMATION CONTACT PICTURE BUTTE AUCTION MART JOE or JIM JURIS Phone 732-4400 or 732-4468 - Picture Butte Alberta likes it on the light side Three Feathers Rye Whisky is blended for today's trend to lightness. Enough four year old to keep it lively - enough eight / ^ year old to make it smooth. More and more / ^7 Albertans are joining the light brigade. Whafe lighter than a feather? THREE FEATHERS THREE FEATHE1S MASTER. BLEND DISTILLED. AGEO AND QOTTLEO IN BOND . UNDER SUPERVISION OF THE , Xt6 CANADIAN GOVERNMENT ^v canadian PARK & TILFORD distilleries ltd.