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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 15, 1974, Lethbridge, Alberta TtMMtey, October THE LETHtRIDQE HERALD 31 Talks resumed in coal dispute WASHINGTON (AP) Ne-. gotiators for the United Mine Workers and the United States coal industry apparently have broken the stalemate over dis- cussion of key health and safe- ty issues and have resumed hard bargaining. The deadlock held up.the talks for a week and provoked union warnings of a nationwide coal strike Nov. 12. Top union and industry ne- gotiators held a lengthy meet- ing Monday after the Bitu- Coal Operators Association agreed to the un- Ion's demand to resolve their differences over non- economic issues before mov- ing on to wage proposals. The meeting was the first since last Tuesday when the industry presented what was described as its final offer on the non-economic issues. UMW President Arnold Miller accused the industry of refus- ing to bargain in good faith and warned of a strike by his members who mine 75 per cent of the coal in the U.S. It is still doubtful whether enough time remains to avoid a strike. The current three- year contract runs out Nov. 12 and any settlement would have to be submitted to the un- ion membership at least a week in advance if it is to be ratified in time. The UMW has proposed a number of safety rules that the industry contends would strip it of much of its manage- ment rights. Among them are proposals for full-time helpers on heavy mining machinery and a greater union role in the enforcement of safety laws. Some work rules also are in dispute. Miller, negotiating his first contract, has made safety a key issue in. the talks, citing the deaths of 22 miners since contract talks began Sept. 3. Saudi Arabia aids U.S. in oil price cut drive ALGIERS (Reuter) King Faisal of Saudi Arabia is sounding out other oil- producing countries in- cluding Iran to help a U.S. drive to push down oil prices, Corn crop lower WASHINGTON (AP) The ;1974 United States corn crop, once counted on as a powerful hedge against rising food prices, will be 16 per cent less last year because of if -drought last summer and frosts this fall, the agriculture department said today. Based on Oct. 1 surveys, the corn harvest is expected to -I-total bushels, down 277 million or six per cent from the September es- timate. The 1973 crop was a _record of more than 5.64 i billion bushels. The soybean harvest was es- timated at bushels, down four per cent from Sept. 1 indications and 19 per cent below the record 1973 of nearly 1.57 billion As livestock feed corn and "soybeans are key raw needed for produc- meat, poultry and dairy products. A smaller supply driven up feed prices and has led to farmers scuttling plans for expanding inven- tories of feedlot cattle, hogs, poultry and dairy cows. The 1974 wheat crop was es- timated at bushels, down one per cent from Sept. 1 indications. However, total output was up four per cent from last year's record harvest. American sources here said Monday. But a senior United States official visiting Algiers with State Secretary Henry Kissinger said he knew of no plans for a secret meeting between King Faisal and the Shah of Iran, which reports from Washington said was in the offing. Faisal, who gave strong sup- port Sunday night to American proposals for co- operative action to solve the energy crisis, told Kissinger he would take a number of steps to further the U.S. cause. Among the steps mentioned was a plan to contact other oil producers. Saudi Arabian For- eign Minister Omar Sakkaf told a news conference in the Saudi capital of Riyadh Sun- day he hoped other Oil- producing countries would follow the Saudi example in agreeing to co-operative ac- tion to lower prices. High prices, he argues, will allow Iran to develop other in- dustries and resources so that it can prosper once the oil is gone. Japanese firm to open office TOKYO (CP) Nippon Kokan, Japan's second largest steelmaker and a major ship- builder, today announced it will establish a branch office in Vancouver in early November. The announcement was made coincidental with news of agreement between NKK and the British Columbia government to .undertake jointly a feasibility study of a basic steel mill in the province. This will be the first office of a Japanese steelmaker in Canada. Britain's economy picture brighter LONDON (AFP) Latest economic indicators, apart the widened trade gap announced last Friday, offer a somewhat brighter picture for Minister Harold new Labor government The wholesale price index, released Monday, showed a slight drop of 0.5 per cent in average prices for raw materials and energy in September. Although a small one. the drop is noteworthy, for it is the first in nearly two and a half years apart from a one- per-cent redaction recorded in Jane. Tiie effect should ease in- flationary pressures at the production level. In August an increase of 1.25 per cent was recorded. But for the last six months as a whole, the June and September drops have virtual- ly cancelled oat ail increases. Price increases for raw materials and energy are con- sidered to be among the basic causes of inflation in Britain. Another indicator, that of the retail trade, continued a slow upward swing that began in July- Provisional figures showed that the volume of retail busi- ness increased by 0.5 per cent last month compared with the August level. The upward swing was en- couraged by last July's mini- budget which allowed for an upward adjustment of pen- sions and a cut in the value- added tax, as well as by wage increases. Additional buying power now has been created by the recent wage settlements which ran higher than current price increases. Taking this into account, the level of domestic demand is roughly in line with targets set by the chancellor of the ex- chequer, Denis Healey. Because, of the price in- creases for oil and the trade deficit. Healey considers it de- sirable to keep demand at the level it attained last year. The chancellor now is pre- paring a new mini-budget to be presented to tnc House of Commons next month. The Herald Business Prices higher at mid-session Stocks M iscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LJMITJtU WESTERN AND West Alton Pe Ben Albany Royal Alta East Ashland BP Weston A Brenda Mines Cda Whitepass Yukon 270 PIPELINE Cdn Export Alta Gas Cdn Alta Gas Cdn Ind Alta Nat Cdn Long Island Cdn Superior Chieftan Get Metro 31.00 Gaz Metro A Pfd 5.25 Inland Nat 2V4 49.00 10.25 Dome N C N C B Nu Ft Tr-Cda Giant Tr-Cda A Gibraltar Tr-Cda B Tr-Cda Pipe War Grt Cdn Oil West Lochiel West Trans Lytton North Cdn Numac Barons PanCdn N. Vi Pan Western Place Bathurst Cima Ranger Scurry Northair Total Primer Ulster United Silver West Valley West Acrs August BC Sugar C Plains Block Bros Canbra Stampede Int'l Res 2.50 MUTUAL Cdn Inv A All Cdn Cdn Pac All Cdn Dividend Carling A All Cdn Carting B Amer Growth Com Cap Corp Crest A.G.F. Special 3.00 Cdn Invest 3.75 Crowsnest Eaton Falcon Eaton F M Eaton Infl Corp Home Oil Corp Invest Stock Home Oil Dreyfus Fund Hud Bay Grouped In Hud Bey 26iOO Growth Hud Bay A Invest Growth Russell C Investors Husky Mutual 4.94 Husky Oil B Nat Husky Oil E N.W. Inter Pipe N.W. Inter S Principal Kaiser Kaiser Res Templeton Loblaw C United Universal Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung. Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mines Denison Mines D'EIdona Dom Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex- First Maritimes Giant Y.K. Granduc Holinger A Hudson Bay A Hydra Ex. Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis .Silver Madsen R.L Malartic G.F. Martin McNeery Madntyre Mela Midrim Intern Mogul NuWest Homes New Athona New Calumet Noranda Northgate Noriex Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock Radiore Rio Algom Roman Corp. Sneriitt Gordon Steep Rode Sunringdate Tek Corp. A United Canso Western Mines WH Copper Mines Wrtgtut Hai greaves WHiroy Bear INOUSTRBALS Abttlbl Alcan Mgotna Steel Atoolnd Agra Ind Sen Tei Srascart A ec .08 Forest Sugar Valley Ind ind Power Foods Cellulose O'Keefe Credit Gas Pfd Ind Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker A Erie Oil A A Nickel Pipe Grp A Ltd Douglas A A Fer Bioed OI.3U Corp Cent Corp Co 1025 Sears Can A A Grp A Mm Pipe Can Pipe Carbide Gas oa Steooe A Imperial Soofla Oom 8.75 11.37V4 18.62% 14.00 6.75 19.50 2.50 4.35 2.35 4.50 1.40 8.50 18.50 2.95 13.00 11.75 13.50 26.25 24.50 13.50 30.37% 35.62V4 21.00 8.37% 14.62% 19.00 24.00 19.50 5.37'A 36.25 16.50 23.75 13.87% 4.85 36.75 20.00 27.37% 23.87% 23.75 13.25 5.87% 13.00 16.75 5.12% 2.39 .435 7.37% 2.55 5.00 925 14.75 2240 39.75 16.62% 525 9.12% 3.10 8-37% 1Z50 8.37% 12.62% New York Amr. T T Anaconda Beth Steel CTflyrter General Motors Grf! im Harvester Kenn Copper Montooroery Ward Sears Exxon Terns Own Texas Co Wtx CcvporaW) 24.50 11225 37.00 18.12% 3325 15.87% Industrial stocks pace TSE trade TORONTO (CP) Prices on the Toronto stock market were generally higher in moderate mid-morning trading today. The industrial index, wide- ly-based indicator of market direction, was up .38 to 165.68. The gold index lost 2.82 to 385.51 and base metals to 66.70. The western oil index was unchanged at 143.45. Advances outnumbered de- clines 138 to 80 with 144 issues unchanged. 9.00 2525 1050 34.00 10.00 11.12% 8.75 7.62% 330 4.60 1750 21.12% 17.87% 23.75 13j62% 35.75 29.75 36.62% Volume by lla.m. was 000 shares, up from at the same time Friday. Moore rose 1 to Com- inco to Reader's Di- gest to Inco B to and National Trust Vfe to 'Gozlar. fell to Falconbridge Nickel to and Imperial Oil A ft to Dynasty Explorations lost V4 to United Asbestos eight cents to and Canada Tungsten five cents to Consolidated Rambler gained 25 cents to and Hudson Bay Mining A to 2S.ST% 22.75 112S Wocaworth 11.12% WedBngfhouM Sec 9.75 US Steel 41.00 Gen Tea Bee TORONTO AVERAGES 20 tnOsStrttte 168.12 wp Xf- 20 Gotoi 385.79 Oown ZS4 10 MeUAs 98.63 tfawn .59 15 Western Ofts 144.72 up 127 Volume 934.000 HEW YORK AVERAGES 20 KjdusaUWte 688.96 4.53 20 149.41 down 123 IS Utftfttts 69.78 down .51 65 Slocfcs 21222 down 154 Vcrtume 4380.000 Livestock Calgary CALGARY- (CP) Receipts to 11 a.m. Tuesday from the Calgary public stockyards totalled about head, mostly slaughter cows with a light run of finished slaughter steers, heifers, and young fed slaughter bulls. Trade met a good local and eastern demand with moderate trading on all classes of slaughter cattle. Al, A2, steers sold steady as did Al and A2 heifers and good conditioned betters. Young bulls discounted 18 to SB with sales to 42.75. Dl and D2 cows sold steady with all other classes of cows higher. There were no butcher bulls sold in early trading. Steers A1.A2-4648, A3-44-46, A4 41-44. Heifers Al, A2 41-43, A3 3941. Cows Dl, D2 D3 15-18, D4 IMS. There were too few replacement cat- tle and stock .calves sold early to es- tablish a market Hogs base 54.50. Fort Macleod FORT MACLEOD On offer by Fort Macleod Auction Market last week were head of catfle. No steers or heifers on offer. Cows were down to St. Feeder trade was fully steady on the good ranch yearlings. SLAUGHTER CLASSES Dl andD2 cows 19 to 20; D3 cows 16 to 17; D4 cows 12 to 15. FEEDER CATTLE AND 212 CALVES One load of 728 pound open heifers sold at 35.40. One load of 791 pound steers sold at 41 JO. The balance of good yearling steers sold from 38 to 40.50. Light weight kinds 37 to 40. Good heifers 33 to 35 with light weights lower. One package of RWF steer calves weighing: 395 pounds 40.35; 320 pounds 35.50; bulk of steers 352 pounds 20. One package of RWF heifer calves weighing: 351 pounds 29.30; 335 pounds 26.28; bulk of heifers 352 pounds 20. At Highway 52 Feeders Al and steers 46.50 to 46.80; Al and A2 heifers 43.40 to 43.70; Holstein steers 41.25. Dividends THE CANADIAN PRESS Corporation dividends, quarterly un- less otherwise noted. Husky Oil Canada Ltd., six-per-cent pfd. series A, 75 cents, Jan. 1 1975, record Dec. 2, 1974; sii-per-cent pfd. series B, 75 cents, Dec. 31, record Dec. 2. MOQCBCO Ltd., it) cents, Dec. 2, record Nov. 15. Nabors Drillimg Co., 12% cents, semi-annual, Nov. 1, record Oct. 16. Woodward Stores Ltd., 28 cents, class A, semi-annual, Oct. 31, record Oct 11. Information supplied by the Toronto Stock Exchange and carried by The Canadian Press Oct. 1 erro- neously indicated a decrease in the dividend. Dividends of 45 cents a share were paid in April of 1973 and 1974; the October dividend in 1973 was 25 cents. Tentce 'incorporated, 40 cents. United States funds, Dec. 10, record Nov. 15. Hog prices EDMONTON (CP) Prices to 11 a.m. Tuesday provided by the Alberta Hog Producers Marketing Board. Friday's prices in brackets. Edmonton: 56.00 Calgary: Unsold at 54.50 Red Deer: Hogs sold to 11 a.m. Hogs sold Friday, average 55.50. Sows average 3160. Winnipeg grain 'WINNIPEG (CP) Prices were in .generally moderate'activity at mid-sefiion today on the Winnipeg Commodity Exchange. Friday's volume of trade was 000 bushels of feed wheat, of oats, of barley, 30.000 of corn, of rye, of flax and 000 of rapeseed. Mid-session prices: Thunder Bay rapeseed: Oct. three lower 9.95B; Nov. Vi higher Dec. unchanged 9.56A; Ma; unchanged 9.60B. Vancouver Raoineed: Nov. one lower 10.25A; Jan. lower Marl 2% lower 9.60A; June 6V4 lower Flax: Oct. one lower 12.58A; Nov. six higher 12.45B; Dec. one lower 12.09; May one lower 11.94A. Feed wheat: Oct two lower 4.20A; Dec. one higher 3.89A; May 2% lower July not open. Coin: Dec. seven higher 4.20A; Mar. unchanged 4.16B; May two higher July not open. Barley: Oct. 3fe higher 3.08A; Dec. Vi higher 3.01B; May one higher 3.12B; July Vz higher Oats: Oct 3% higher 2.05; Dec. higher May 1% higher 2.00A; July not open. Rye: Oct one lower 3.43; Dec. two higher 3.43; May two higher 3.53B; July three higher 3.52B. Currencies MONTREAL (CP) Tuesday's mid day foreign exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.01 China renminbi .5125 Denmark kroner .1675 France franc .2110 Germany mark .3800 Japan yen .003343 Mexico peso .0805 -Spain peseta .0172 Switzerland franc .3420 United States dollar .9850 United Kingdom pound 2.3100 U.SJS.R. ruble 1.2958 Quotations in Canadian funds. Earnings THE CANADIAN PRESS Bramalea Ceatolioated Devel- opments Ltd., nine months ended Ang. 31: 1974, C.965.000, 41 cents a share; 1873, 38 cents. Canadiia Caners Ltd., three months ended Aug. 31: 42 cents a share; 1973, 23 cents. IT PAYS TO LEASE You lull flion rep Yow Mid Dflv ONE BENY CHEVROLET OLDSMOBILE LEASING AND INSURANCE DIVISION Phont328-1101 To My Customers Thank You Very Much for purchasing GLILWood products. I would be delighted to show, you a Sanitation Plan for your Wash Rooms at a Reasonable Cost. Performance is guaranteed. Please call me if 1 can be of service. MelvinGodtonton 22l9-2ndAve.N. Lethbridge 327-74OO ALMOST EVERYWHERE YOU GO! GiH WOOD for I Pan Ocean was up to Ranger Vt to and Total Pete to Canada North- west Land dropped 10 cents to Market trends MONTREAL (CP) Prices were generally higher in trading on the Montreal Stock Exchange today. Volume at a.m. was shares, compared with shares at the same time Friday. All sectors moved higher. The in- dustrial index rose .79 to 173.50, papers .77 to 102.64, banks .73 to 233.10, the composite .69 to 169.40 and utilities .33 to 121.44. Moore rose 2 to Union Carbide to 118V4, Denison Mines to Alcan to f23V4, Simpson's Sears class "A" to 19, Pan Ocean Oil Vt to and Stelco class "A" M> to Distillers Corp.-Seagrams fell Vt to Abitibi Paper H to Con- solidated Bathurst V, to and International Nickel class "A" Vi to Among speculative issues, Uaspe Quebec Mines rose one cent to after trading shares. VANCOUVER (CP) Prices were mixed in light trading on the Van- couver stock exchange today. Opening volume was shares. In the industrials, Canadian Javelin was unchanged at f 10 on shares. In the mines. Consolidated Beaumont was up one half cent at .32 on shares. In the oils, Payette was up .01 at .21 on shares. Curb volume was shares. Dasher was up .03 at .54 on shares. NEW YORK pushed stock market prices lower to- day in a session interrupted shortly before noon by equipment problems at the New York Stock Exchange. The Dow Jones average of 30 in- dustrials was down 4.54 at 668.96 when the exchange ticker tape stopped at a.m. Losers led gainers by slight- ly more than 2 to 1 in relatively active trading. On the American Stock Exchange, the market-value index was down .15 at 69.22. Chicago markets CHICAGO (AP) Commodity futures prices moved over a wide range on major exchanges in the United States Monday. Some markets were closed in observance of Columbus Day. Pork bellies, live hog and live cattle futures all fell to limits on the Chicago Mercantile Exchange, while shell eggs closed on a mixed tone. On the Chicago Board of Trade, soybeans and soybean oil opened on limits lower and closed on the same levels, but corn and oats futures bulged in the last few minutes to close sharply higher. Wheat improved in the last few moments and iced broilers were about unchanged. Soybean meal, down most of the session, turned strong in the closing minutes and closed with a gain of a ton, the limit Soybeans and soybean oil futures opened on limits lower, largely on an accumulation of sell orders from last Friday, when both pits had closed on limits lower. Neither pit attracted much buyer attention, except at the close when some buying developed in the most distant options. Wheat futures were weak through most of the session, then improved when corn and oats prices strengthen- ed at the close. Some eastern commodities markets were closed in observance of the holiday, but cotton and frozen orange juice eased, while wool futures gained some 100 points and Maine potatoes were steady. At the close, soybeans were down 20 cents a bushel, Nov. 8.68; Chicago wheat was seven lower to three higher, Dec. 5.19; Gulf wheat was not traded, corn was 2Vi to 10 higher, Dec. and oats were six higher, Dec. 1.95Vi. Grain quotations Monday: Wheat: Dec 5.19; Mar 5.33; May 5.30; Jul 4.86; Sep 4.90; Dec 4.97. Corn: Dec Mar May 4.03; Jul 4.01; Sep oats: Dec 1.95V4; Mar 1.98; May 2.01V4. Dollar value MONTREAL (CP) U.S. dollar in terms of f-anadian funds at noon today was down 2-25 at Pound sterl- ing was down 17-50 at In New York, the Canadian dollar was up 2-25 at Pound sterl- ing was down 3-20 at 1-5. CANBRA FOODS LTD. (Formerly Western Canadian Seed Processors ltd.) NOTICE OF PARTIAL REDEMPTION TO THE HOLDERS OF 7% SINKING FUND DEBENTURES, SERIES A OF CANBRA FOODS LTD. (FORMERLY WESTERN CANADIAN SEED PROCESSORS LTD.) DUE NOVEMBER 1, 1980 NOTICE IS HEREBY GIVEN that pursuant to the Trust Indenture made as of October 31, 1960, between CANBRA FOODS LTD. (formerly Western Canadian Seed Processors Ltd.) and BRITISH CANADIAN TRUST COMPANY, Trustee, succeeded by THE CANADA TRUST COMPANY as Trustee securing such debentures, principal amount of 7% Sinking Fund Debentures Series A of CANBRA FOODS LTD. (formerly Western Canadian Seed Pro- cessors Ltd.) bearing the under-mentioned distinguishing numbers and letters and of the under-mentioned principal amounts, have been drawn by lot by the Trustee for redemption (in whole or in part) out of sinking fund monies on the 1st day of November, 1974, and such debentures or the portion thereof called for redemption will therefore, be redeemed on the Ut day of Novem- ber, 1974, at the principal amount thereof upon surrender of the said debentures with all unmatured coupons appertaining thereto in lawful money of Canada, at The Canada Trust Company, 3rd Avenue and 7th Street South, lethbridge. Alberta. Coupon Debentures in denominations of each called in full: A1496 A1497 A1498 A1508 A1509 A1517 A1521 A1525 A1533 A1545 A1549 A1555 AT 571 A1599 A1604 A1606 A1608 A1622 A1639 A1652 A16S7 A1659 A1663 A1668 A1674 A1698 A1700 A1702 A1716 A1728 A1Z37 A1748 A1772 A1795 A1827 A1828 A1832 A1837 A1850 A1906 A1907 A1909 A1911 A1915 Coupon Debentures called in in denominations of each A0005 A0023 A0034 A0046 A0051 A0090 A0091 A0101 AC110 A0117 A0118 A0143 A0181 A0203 A0231 A0234 A0235 A0245 A0247 A0253 A0254 A025S A0257 A0258 A0270 A0271 A0277 A0280 A0304 A0311 A0312 A0325 A0326 A0339 A0340 A0341 A0347 A0355 A0365 A0385 A0401 A0402 A0405 A0406 A0418 A0445 A0458 A0461 A0475 A0490 A0498 A0499 A0511 A0522 A0531 A0532 A0535 A0570 A0580 A0595 A0609 A0613 A0633 A0636 A0642 A0643 A0645 A0649 A0657 A0658 A0663 A0681 A0687 A0693 A0694 A0695 A0706 A0733 A0742 A0745 A0760 A0773 A0777 A0787 A0795 A0796 A0808 A0817 A0823 A0850 A0871 A0897 A0898 A0908 A0915 A0916 A0928 A0932 A0936 A0937 A0947 A0957 Coupon Ho. 28 doe November 1, 1974, should be detach- ed from the Debentures before presentation and cashed by the holder in the usual way at any branch in Canada of the Bank of Montreal. NOTICE IS ALSO HERSST that it accordance with the of the said Trust Indenture ell interest on any debenture specified in this notice as herring been drawn for redemption or any portion thereof to be redeemed thai! cease from and after the 1st day or rlovember, 1V74. Dated at lethbridge this 20th day of September, 1974. CANBRA FOODS LTD. tfm imnm Ml llfSnjfy Ud) By J. J. OTTO ;