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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 19, 1973, Lethbridge, Alberta Advance trend on TSE steady The Herald- Business TORONTO (CP) All sec- tors of the Toronto stock mar- ket rose sharply in active mid- morning trading today. The industrial index, consid-. ered the best gauge of over-all market trend, gained .89 to 233.76, golds .89 to 274.08, base metals .16 to 110.11 and western oils 2.99 to 263.14. Volume by 11 a.m. was 1.17 million shares, up from 000 at the same time Thur- sday. Advances led declines 167 to 102 with 204 issues unchanged Oil refining, steel, bank and trust and loan stocks were ad- vancing market sectors while utility, beverage, chemical and food processing issues declined. Pacific Pete rose 1'A to Imperial Oil to Canadian Imperial Bank to Husky Oil to and NuWest Develop- ment to Consolidated Bathurst fell to Walker-Gooderham A to Ford of Canada VS. to V2 and Asbestos Corp. Vz to Rio Algom increased to Placer to and Denison Vi to Gibraltar lost VB to and Kerr Ad- dison Vi to Ranger climbed 1 to Chieftain Vi to and United Canso Vz to MONTREAL (CP) All sectors except papers moved higher in light trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at 11 a m was 400 shares compared with shares at the same time Thursday. Banks rose 2 70 to 287.85, in- dustrials 2.01 to 261.92, the composite 1.73 to 241.82 and utilities 31 to 146.54 while papers fell .03 to 152 23 On the Montreal Stock Ex- change, Pacific Petroleums moved up IVi to Algoma Steel to and Royal Bank Vz to and Denison Mines Vz to while Consoli- dated Bathurst fell to On the Canadian Stock Ex- change, Quebec Uranium Min- ing Corp. remained unchang- ed at 42 cents on shares traded. NEW YORK (AP) The first cuts in the U.S. prime lending rate in about two years sent the stock market higher today. First National City Bank in New York, the second-largest commercial bank in the coun- try, announced it was trimm- ing its minimum corporate borrowing fee from 10 per cent to per cent. Earlier Ohio's largest bank, Cleveland Trust, said it was reducing its prime to 9Vi per cent. The Dow Jones industrial average was up 5.49 points to 965.23 at noon, and advances outpaced declines by 2-to-l in moderate trading on the New York Stock Exchange. The composite index was ahead .30 to 59.69. VANCOUVER (CP) Prices were up in moderate trading on the Vancouver stock exchange Thursday. Volume was shares. In the mines, Cutglass was down 08 at 12 on shares. Silver Standard fell .06 to on shares, Green Eagle was down .01 at .29 on shares and Barrier Reef rose 08 to 95 on 105.550. Accent Resources rose .01 to .30 and Cop-Ex was up .01 at .34. The leader in the oils was Chapparal up .10 on shares. Seneca Developments rose .13 at on shares, Stampede fell 03 to on shares and Williams Gold was at .22 on 600 shares. Sunlight and Embassy was at 50 Speculators Kund led trading in the industrials, at .96 on 450 shares. Keg Restauarant rose 03 to on 8.400 shares, Block Brothers was up 05 at on shares and Mercuria was at 56 on shares. Trans-America was at 20 and Bank of B.C. was down 25 at Earnings By THE CANADIAN PRESS Abitibi Paper Co. Ltd.. nine months ended Sept. 30: 1973, 88 cents a share; 1972, 24 cents Alcan Aluminium Ltd., nine months ended Sept. 30: 1973. a share. 1972. Brooke Bond Foods Ltd., year ended June 30: 1973, 1972. Canada Permanent Mortgage Corp., nine months ended Sept. 30: 1973, a share. 1972, 23 Canadian Curtiss-Wright Ltd nine months ended Sept. 30- 1973. 11 cents a share: 1972, five cents Celanese Canada Ltd., nine months ended Sept. 30: 1973. profit, 33.2 cents a share; 1972. loss, 47 cents Dominion Textile Ltd., three months ended Sept. 30: 1973, 13 cents a share: 1972, seven cents. Heitman Canadian Realty Investors, period from April 10 to Sept. 30 1973, cents a share; 1972, no com- parable figures. Imperial Oil Co. Ltd., nine months ended Sept 30: 1973, a share; 1972, 86 cents. International Minerals and Chemical Corp., three months ended Sept. 30: 1973. 30 cents a share: 1972. seven cents. International Nickel Co. of Canada Ltd., nine months ended Sept 30: 1973, U.S. funds, a share, 1972, bt. Lawrence Columbium and Metals Corp., nine months ended June 30: 1973, profit, eight cents a share: 1972. loss, 13.1 cents. Steintron International Eelectronics Ltd., year ended July 31: 1973. a share; 1972. cents. Dollar MONTREAL (CP) -US. dollar in terms of Canadian funds at noon Friday was down 1-25 at 21-25. Pound sterling was down 51-100 to 53-100. In New York, the Canadian dollar was up 1-25 to 4-25, while pound sterling was down 41-100 at 93-100. Texaco Canada Ltd., nine months ended Sept. 30: 1973, a share. 1972, Westmghouse Canada Ltd., nine months ended Sept. 30- 1973. a share; 1972, 42 cents Two new executives for VSE VANCOUVER (CP) The Vancouver Stock Exchange will recommend to the provin- cial government that David Huberman and A D Peter Stanley be appointed to its board of governors at large, says VSE president Cyril White. Mr. Huberman. a Van- couver lawyer, resigned in June as a professor at the University of British Colum- bia's law school. He specializes in corporate law. Mr Stanley is a chartered accountant with Coopers and Ly brand. The VSE president said the board has unanimously approved the two ap- pointments. The names of the two men have been submitted to Attorney-General Alex MacDonald. The provincial government has the final say on the appointments. Cominco increases lead price Beef futures WINNIPEG (CP) Live beef futures close Thursday. Nov49.00A; Jan 51.00; Mar 52.50B, May 52.50A. Wednesday's volume. Eight contracts. VANCOUVER (CP) Cominco Ltd. has announced an increase of cents a pound in the price of refined lead sold in Canada. It was the second increase this year. The company increased the price, effective immediately, to 17 Vz cents a pound from 16 cents. The price was increas- ed in February from 15 cents a pound. The Vancouver-based com- pany also announced that until further notice, primary refined lead will be offered for sale in the United States at a delivered price of 19 cents a pound. This figure includes the existing import duty of 1.0625 cents a pound which will be absorbed by Cominco. Stocks M iscellaneous Vancouver, Calgary, Montreal (Supplied by Doherty, McQuaig Ltd.) WESTERN AND Alton 87 '4 Alta East BP Brenda Canada Cdn Ex Cdn Cdn Ind Gas Cdn Long Cdn Dome Fort Giant 15 Gibraltar Gt 87 Vi Gt Cdn ON Lochiel Lytton 44 Noble 38 North Cdn Pancdn Pan 70 V? Place Scurry 37V, Total Ulster United West West Acres BC Sugar BlocK Cdn Pac Inv Com Cap Cdn Brew A Cdn Brew B Crowsnest Falcon 37 F and M Global Com Home Home 00 Hud Bay 00 Hud Bay Hud Bay A Hugh Husky 37V4 Husky B 00 Husky D 00 Husky E 25 Hys of Inter Prov Inter Prov 62 Kaiser Loblaw C Pacific Pac West Pe-Ben Rainier Royal Trust Sandwell Teledyne West Cdn Seed Westfield Mm Weston A Pfd White Yukon PIPE LINE STOCKS Alta Gas A 11 Alta Gas Pfd 66 50 Alta Nat Gas 1975 Inland Nat Gas 1000 Gaz Metro 4 65 Gaz Metro A 65 00 N and C Gas 10 50 N and C B Pfd 23 25 Pacific Trans 11 25 Trans Can Pipe 33 50 Tr Can A Pfd 61.75 Tr Can B Pfd 39.50 Tr Can War 6.95 WC Trans 17 50 WC Trans Wts 3 40 CALGARY Acroll 67 Barons Oils 08 N Contin .02 West Warn .30 VANCOUVER MINES Atlas Explor 37 Bath Norse 81 Dankoe 2.00 Daven .45 Dolly Vard .22 Equilonal Res .19 Lornex Primer 08 Pyramid .14 Silv Stand 1.91 Val Copper 11.25 INDUSTRIALS Colum Brew 5 50 Key Indus 20 Wardair 1 80 OILS PRP Explor 82 Plains Pete 25 Pond Explor .85 Stamp Intl Res 1.00 MUTUAL FUNDS All Cdn Com 7 39 8 03 All Cdn Div 783 851 All Cdn Ven 3 94 4 28 Amer Grow F 5.79 6.36 AGF Spe 3.09 Cdn Invest F 5 29 5.81 Col Mut 6 32 6 94 Com Inter 1489 1636 Com Lev 3 91 4 30 Com Venture 737 8 10 Corp Invest 6.57 7.22 Corp Invest S F 5 51 6.05 Dreyfus F US 1211 1327 Grt Pacific 4 88 5 33 Grpd Income 374 411 Grow Equity 8 18 8 99 In Grow F 12.77 1396 Invesl Mut 6 16 6.73 Mut Accum 638 7.01 Mut Grow F 4 02 4.43 Nat Res 5 31 5 84 NW Cdn 6 03 6 63 NW Grow 5 64 6 20 Prm Grow 5 02 5 52 Prov Mut 8 02 8 63 Roytund 7.22 7.51 Temple Grow 8 29 9 09 Unit Accum 5 38 5 91 Univer Sav B 30 913 Univest 6 43 7 07 Vanguard 7.08 7.76 ay, octoMr iv, 1979 THE LETHBHIDGE HERALD 23 Professional job openings up by 64 per cent TORONTO report by the Technical Service Council of Toronto shows professional job openings in Canada have increased by 64 per cent in the last 12 months The survey of com- panies across Canada counted 2.031 jobs available for professionals as of Sept 30. compared with 1.240 such positions in September. 1972 The council's report said the rate at which openings are de- veloping is the fastest in 10 years and has resulted in a shortage of professional personnel in some areas About half the openings were in Ontario, the report said, while Quebec listed 520 vacancies The Prairie provinces and the Northwest Territories were in need of 378 professionals. The Atlantic provinces had 38 openings "The shortages ol profes- Toronto industrials (Supplied by Richardson Securities of Canada) Forest Advocate Sugar Valley Ind Brew Cellulose Can NW Power Canada Cred Gas Central Indus Marconi Vickers Cons Com Bath Dickenson Gas Denison Seagrams Bridge Dome Discovery Textile East Stores East Pete Mobile First Cdn Oil Giant Y Motors Lakes Paper Oil Cda Hudson Bay Hydra Sid Iron Walker Erie Joiiet Oil Kerr Key Nickel Pipe Lake Group A Langis Inter Madsen Accept Malartic G Martin Doug A A intern Nu West Ferg New Bloed New Corp A B Pine Cent Placer Corp Pax Co Quebec CDA Rio Sears Roman Canada Sherntt A Steep Tek Grp A Mtn Pipe United Can Pipe Western Carb W House Copper Gas On Siscoe Yellowknife Mlg A Cdn Seed Flee Algoma Atco Imperial Agra Ind Bell 41 Nova Scotia Brazilian Trac BC Tfironto-Dom 16.25 23.50 20 B7Vi 3625 17.25 10.25 4.10 6.00 7 62 Vi 2425 225 11 00 17.62% 3.95 1750 2350 1687Vz 3575 2875 15.75 45.00 37.00 10.37VJ 1400 37 12Vj 32 37V, 10.00 810 2900 33 5.62V} 56.25 32.00 44.25 2975 37 2375 10 12Vi 28 5.25 5.62 Vi 11 75 5.00 500 1450 3825 25.37 Vs 1425 1275 1737Vi 15.00 19.50 9.50 1262% 34 5575 1900 16.87'-i 3325 17.75 1500 680 725 2000 1925 23 37V, 600 320 31 39 87 38.00 37.50 York (Supplied by Amr TAT Anaconda Beth Steel Chrysler Comsat Dupont General Motors Gulf Int Harvester Kenn Copper Montgomery Ward Sears X-Ron Texas Gulf Texas Co Wix Corporation Richardson Securities of Canada) 4937'i Woolworth 32 62Vj 26 SO Westmghouse Elec 32 SO 35 12 'r US Steel 3650 2337'j Gen Tel Elec 2950 55 75 TORONTO AVERAGES 196 25 20 Industrials 233 95 up 1.08 6475 20 Golds 27432 up 1 13 2300 10 Base Metals 10995 up 02 34 00 15 Western Oils 263 31 up 3.16 3700 Volume 26 25 NEW YORK AVERAGES 95 25 20 Industrials 964 25 up 4 51 91 00 20 Rails 18349 down 38 ts utilities 9991 up 28 29 75 65 Stocks 293 89 up 83 Volume 8 700.000 Proposal silly New Democratic Party finance critic Max Saltsman answers reporters' questions outside the Commons. Earlier, he said new tax proposals made by Finance Minister John Turner are silly and don't make any difference to the people. Winnipeg grain WINNIPEG (CP) Rye was the only exception as the market turned strong on moderate trading through midsession on the Winnipeg Commodity Exchange today After a slow opening, buyers began showing increased interest in the market, es- pecially oilseeds. Good ex- porter and commission buying pushed flax up about 17 cents, and rapeseed advanced from two to seven cents Oats was also very strong in nearby months, moving up its eight-cent limit but deferred months were fractionally weaker. Barley was steady on light activity. The buyers ignored rye and some selling pressure and hedging pushed prices down a couple of cents. Thursday's volume of trade was 296.000 bushels of flax, of rye and of rapeseed. Livestock Calgary CALGARY (CP) Receipts to 11 am today from the Calgary public stockyards totalled head of cattle and calves. Receipts were mostly yearling feeder steers and heifers and stock calves Trade was active, with all classes of feeders meeting a broad demand. There were no slaughter steers or heifers on offer. Cows and bulls sold steady. Cows, Dl, D2: 35.50 to 37. D3: 34 to 3550 D4: 30 to 34. Bulls, good 39 to 43. Good feeder steers more than 750 pounds 47 to 57. Under 750 pounds: 53 to 57 25. Good feeder heifers: 46 to 51.50. Good stock steer calves: 55 to 67. Good stock heifer calves: 52 to 56.75 No hogs f.o.b. were sold to 11 a.m. Mid-session prices: Flax: Oct. 18 higher 8.83B; Nov 17 higher 8.80A: Dec 18 higher 8.57A. May 17Vz higher 8.44V.A. Rapeseed Vancouver: Nov higher Jan. 7 higher 5 16B, March 6M> higher 502: June 5'2 higher 497B Rapeseed Thunder Bay. Oct not open, Nov higher Dec 2 higher 4.63B: May 5 higher 4 84B. Oats Oct. 8 higher I.eOVzB, Dec. 8 higher 1.51 VzB; May Vj lower 1.38V2B, July not open. Barley Oct. V2 higher 2 Dec. unchanged 2.21A. May lower 2.20A. July not open. Rye: Oct 2V2 lower 2.64A, Dec 1% lower May 3M> lower July IVj lower WINNIPEG (CP) Gram quotes Thursday basis Lakehead: High Low Close Flax Oct 865 Nov 863 Dec 840 836 839 May 827 823 826 Rapeseed Vancouver Nov 523 518 522 Jan 512 503 509 Mar 500 493V2 495V2 Jun 497 488% 491V2 Rapeseed Thunder Bay Oct 483V2 Nov 486 Dec 466 461 461 May 479 478 479 Oats Oct 152 150 152 V2 Dec 139 May 138% 137V2 138% July 133 Barley Oct 227 Dec 221V2 218 221 May 220% 215M: 220% Jiy Rye Oct 253 Dec 260V2 241 256V-1 May 260 241 257 Jly' 253 defends car makers on tests DETROIT. Mich. General Motors official has defended the auto-maker's catalytic converts, saying the proposed anti-pollution system has been thoroughly tested. Robert Sempel said researchers critical of sul- phate and sulphuric acid emissions from the devices have been using devices more primitive than the unit GM has developed. A report by the environmen- tal pollution agency and the department of health, educa- tion and welfare says sulphate emissions from the devices may pose health problems in areas of traffic congestion. The federal study also alleg- ed the devices may produce sulphuric acid emissions Sempel, special assistant to GM president Edward Cole, said he's confident the GM unit does not emit a dangerous level of either sulphate or sul- phuric acid. "We don't have any reser- vations about our Sempel said. "We think our research is pretty strong on it and we're convinced we've covered all the bases." Converters resemble a muffler and use platinum to change carbon monoxides and hydrocarbons into harmless carbon dioxide and water vapor Dividends THE CANADIAN PRESS Dividends are quarterly un- less otherwise noted. Canadian General Electric Co Ltd., 25 cents, Jan. 2, record Dec. 12 Electrohome Ltd., cents, semi-annual, Nov. 30, record Nov 15. Imperial Life Assurance Co. of Canada, 80 cents Jan. 1, record Dec. 6. sionals are made more severe because an estimated 50 per cent of professionals will not consider jobs outside their own towns." the report said "In Toronto, the percentage is even higher.'1 ENGINEERS IN DEMAND The Technical Service Council, a personnel con- sulting and placement firm sponsored by 400 industrial companies found job oppor- tunities have almost tripled in the last year for plant engineers. Shortages were found for accountants, experienced plant engineers, intermediate sales engineers, and maintenance engineers Several hundred engineers and designers will be required by the Alberta oil sands proj- ects, the council reported. A strong demand exists for com- puter programmers, systems analysts and chemical sales engineers. The report showed that re- cent university graduates have improved opportunities, with more openings for business administration, com- merce and engineering But arts and natural sciences graduates and ad- vanced level engineers and scientists are expected to have more trouble finding jobs, the report says. Canada is graduating proportionately engineers and scientists with master's and Ph D degrees than the United States, it added. Chicago grain CHICAGO (AP) Soybean futures declined 20 cents for the fifth straight day on the Board of Trade Thursday Wheat futures were UD the 20-cent limit around midsession. but gave way a few pennies under late profit- taking. Corn prices were irregular, but oats were up around cents. Soybean meal lost around a ton and soybean oil was down some 50 points. Commodities in the soybean complex were under selling pressure from the opening bell, as they have been the last five sessions The selling eas- ed somewhat and buyers began to come forward rather cautiously after the opening A strong factor in the selling was the continued good weather over most of the Midwest and a scarcity of a good buying element Wheat prices were irregular until it became known that the government expects a lower carry over next year than the trade had expected This brought in new buying and prices quickly rose to the lim- its. Prices remained above the previous closes until just before the final bell when profit-taking trimmed some of the gains in the two pits. At the close, soybeans were down as much as 20 bushel, November 5 49. wheat 10 to 18 higher. December 437. corn unchanged to 1V2 higher. December 2.45Vz and oats gained about 1'z December 1.24. Wheat Dec 4.37: Mar 4 30; May 4 18; Jul 3.87. Sep 3.88 Corn: Mar 2.50: May Jul 256'z: Sep 2.54. Dec 236''2: Mar 2.36V2. Oats Dec 1.24; Mar 1.26Vi, May 1.29; Jul 1.24. Dial-a-friend Zenith 6-6O14. Just call us toll-free from anywhere in Alberta. That way when you stay in Calgary, you'll stay with friends. Downtown Calgary. 9th Ave. 1st St., next to the Calgary Tower. THE, ;