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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 22, 1974, Lethbridge, Alberta 22 THE LETHBRIDGE HERALD TuMduy, October 22, 1974 West coal strip-raining pollution hazard stressed WASHINGTON (AP) Proposed massive strip- mining of western coal will create air pollution and land disturbance so severe that even the local climate may be harmed, the U.S. interior department reports. In a six-volume final en- vironmental impact state- ment on proposed strip- mining in Wyoming's eastern Powder River coal basin, the department also warns of a long list of unavoidable problems that would change the largely untouched area into something more like the Harvest, shipping delay cost Canada wheat sale WASHINGTON (AP) Most of the United States wheat destined for the Soviet Union as the result of talks in Moscow last week would nor- mally have been bought from Canada, a U.S. agriculture department expert said Mon- day. Richard Bell, deputy assis- tant secretary of agriculture, said Canadian harvest and shipping problems forced the Russians to seek U.S. wheat. Bell told a news conference that Moscow normally buys wheat for populated areas of the Soviet far east which are deficient in grain, rather than ship it thousands of miles from the Russian bread basket. 'In the past they have bought this wheat from Canada, and Canada has so much problem shipping out of Vancouver they would'prefer to take it from the United States." (train shipments resumed from Vancouver earlier this month following a lengthy grain handlers' dispute. The tie-up was ended through intervention of Parliament. The wheat represents most of a compromise grain export FARMERS! Avoid liquidation of your assets Estate settlement can be costly. Acreage or equip- ment may have to be- sold to pay estate taxes, pro- bate costs and administra- tive expenses and to clear debts. Plan ahead now the common sense way with Metropolitan life insurance. Call me for details today. C. Stan Veriinden Sain SIMM South PhoM 327-3550 Where the future is now '-I'll life iTr.ijj.lm i1 Bui our i'. hf" I would like, without obliga- tion, more information on the Metropolitan Plan fea- tured above. Name. Address. City___ Province. (Mail to address above) package worked out with Soviet leaders by U.S. Treasury Secretary William Simon. Bell was with Simon in Moscow. Simon disclosed during the weekend that Russia had agreed to limit its purchases of U.S. grain until mid-1975 at least. The U.S. grain stockpile has dwindled because of large exports in the last two years and reduced harvests this season. The White House stepped in Oct. 5 to suspend a deal two grain companies had made with the Soviet Union for 3.4 million tons of wheat and corn. Union seeks million in damages LAFAYETTE, Ind. A damage suit was filed against nine major oil companies Monday in United States district court by a member of the U.S. Steelworkers union on behalf of members of the union, charging the oil companies with restraint of trade. Named in the suit, filed by David C. Montgomery, were Gulf Oil, Amoco, Standard Oil of Indiana, Exxon, Mobile, Shell, Atlantic Richfield, Tex- aco and Phillips Petroleum. The suit charged the com- panies entered into contracts, cartels and combinations in restraint of trade and .have monopolized or attempted to' monopolize-the distribution of oil products. It said the steelworkers have been forced to pay "grossly excessive amounts for petroleum resulting in an increased cost of living and inflation. SALES UNCHECKED OTTAWA (CP) Despite increased gasoline prices and mounting inflation, Canadians are still buying more motor vehicles. Statistics Canada reports that sales for new motor vehicles increased by 1.3 per cent in the first half of 1974 compared with the six month period in 1973. Sales reached 686.445 units with an accumulated value of billion from January to June. 1974. Sales of passenger cars produced in Canada and the U.S. increased by .2 per cent to 83.379 units. overburdened industrial com- munities of the east. The study was. sparked by proposals to federal agencies by private companies for development of leases on federally owned coal deposits' near Gillette and Douglas, Wyoming. The proposed developments would be large: by 1980, some 296 million tons of coal would have been produced by 10 mines; by 1985 the total would be 858 million tons from 12 mines. Current U.S., coal production is 600 million tons a year. In addition, the proposals include power plants, coal- gasification plants and 350 miles of new rail lines, roads, pipelines and power lines. The environmental study warns of "long-term un- avoidable damage to animals and humans from air pollutants." Smoke and dust would increase some 12 per cent by 1985, despite pollution controls, while hydrocarbons and nitrogen oxides would more than double and sulfur dioxide would more than triple. The air pollution and dust raised by strip mining "will result in a cumulative decline in air quality, which may result in an adverse impact to climate which would be un- avoidable. Therefore, effects of reduced precipitation on mined land rehabilitation and water supplies would also be un- avoidable....." CP Rail subsidiary income up MONTREAL (CP) Cana- dian Pacific Investments Ltd. reports consolidated net in- come of million for the first nine months of 1974, an increase of 91 per cent over the million earned in the corresponding period in 1973. Net income for the quarter ended Sept. 30 was mil- lion, an increase of mil- lion, the company says. After preferred dividends, earnings per common share for the first nine months were compared with 96 cents in the same period last year. On a fully diluted basis, which assumes that all pre- ferred stock is. converted to common and all warrants are exercised, earnings per com- mon share were over the period, up 73 cents. The company says mines and minerals led all other sec- tors in amount and rate of increase. Coal was also a fac- tor with Fording Coal operating profitably for the second successive quarter and in a profit position for the period. Strong markets for oil and gas and the consolidation of the earnings of Algoma Steel, in which CPI has a 50.6 per cent interest, also contributed to the increased earnings. ---------OMLY POWN--------- Newly completed spacious bi-level apartment unit featuring private entrance and yard area, balcony, colored appliances, and shag carpet throughout. Monthly payments of only P.I. Why pay rent when you can be an owner instead? For particulars, phone 328.-5303.________________________________ CALOARY POWER Rights to purchase Common Shares CALGARY POWER LTD. Calgary Power LW- is to its shareholders of record as at the clwe of business on October S, 1S74, Rights to for one addi- tional common share for each ten shares held at the price of per share Expire tforfmfor 1974 The undersigned wil! manage a Spiriting Dealer Group formed for the purpose of facilitating the Rights. MemVrs of the Group, inclwding the undersigned, will in respect shares through them. Wf ffwf fharchiddrrx fwrcwr iticir ond offer our fterriffx Hijx for Hir jmrclifisr til tbrsr Rifjiifs ilif kft, MERRIU LYNCH, ROYAL SECURITIES LIMITED JtonTwdl QotfcK Mm't IwxJen. The Herald Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY LIMITED WESTERN West AND Oilfield Alton Albany Alta East Ashland A BP Brenda Cda Gas Trk Cdn Ex Gas Trk Cdn Nat Cdn Ind Gas Cdn tong Metro A Cdn Nat Chieftan C Dome C Gas B Nufort A Giant B Gibraltar Gt Cdn Oil Trans Lochiel Lytton North Cdn Numac Oil Pancdn Pan Place Ranger Scurry Total Ulster United West West Decalta .07 MISCELLANEOUS INDUSTRIALS Acres Ltd 5.75 Aquitaine 17.50 BC Sugar C Pfd 10.75 Block Bros 3.15 Canbra Foods 2.50 Cdn Pac Inv A Pfd 27.50 Cdn Pac Inv 14.00 Carling O'Keefe A Pfd 16.75 Carling O'Keefe B Pfd 19.50 Comm Cap Corp 1.50 Crestbrook Ind 3.15 Crowsnest Ind 13.50' Falcon Copper 8.37% F M Trust Co 3.50 Genstar 15.00 Home Oil A 24.75 Home Oil B 22.00 Hud Bay Co 14.00 Hud Bay Oil 25.00 Hud Bay Oil A Pfd 32.75 Hugh Russell C Pfd 58.50 Husky Oil 14.62% Husky Oil B Pfd 32.00 Husky Oil E War 4.30 Interprov Pipe War 2.70 Interprov Steel Pipe 13.00- Kaiser Res 4.25 Kaiser Res War 1.85 Loblaw Co C Pfd 22.50 Magnasonics 1.95 Pacific Pete 19.00 Wardair 1.25 OILS August Petroleum .17 Plains Pste .09 Stampede Int'l Res .56 MUTUAL FUNDS All Cdn Compound 4.84 All Cdn Dividend 5.00 AH Cdn Ventures 2.24 Amer Growth Fund 3.71 AGF Special 1.87 Cdn Invest Fund 3.90 Eaton Comnwlth 11.19 Eaton Leverage 2.57 Eaton Int'l Vent 4.41 Corp Invest 4.98 Corp Invest Stk Fd 3.74 Dreyfus Fund U.S. 8.30 Great Pacific 3.59 3.93 Grouped In Shares '2.48 Growth Equity 4.97 Invest Growth Fund 9.46 Invest Mutual 4.63 Mutual Accum 4.99 Nat Resources 3.50 N.W. Cdn 4.21 N.W. Growth 352 Principal Growth- 3.16 Royfund 4 98 Templeton Growth 6.18 United Accum 3.56 Universal Savings 6.62 Univest 5.2B 5.81 Vanguard Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb. Akaitcho Bralorne Broulan Bethlehem1 Bovis Brunswick Can. NW Land Canada Tung Cassiar Central Pat. Chimo Conwest Cons. Rambler Coin Lake Cochenour Craigmont Dickenson Mrnes Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbridge Frobex First Maritimes Giant V.K. Granduc Holltnger 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 McNeeJy Maclntyre Meta. Midrim Intern Mogul NuWest Homes New Athona New Columet Noranda Northgate Nortex Pine Poinl Placer Dev Pax Exp. Quebec Man Rayrock Radiore Rk> Algom Roman Corp. Sherrin Gordon Steep Rock Sunnmgdate lev Corp A Untied WH Copper Mines Wnghl Hargreaves Wfflroy Wmdtafl YeJtowkofle Bear Zenmac AbltW INOUSTRMIS Alco Ind Agra Ind Sail Tel Brascan A Tel Forest Sugar Valley Ind Ind Power Foods Cellulose O'Keefe Credit Gas Pfd Ind Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pole Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker A Frie .21 Oil A A Nickel Pipe Grp A Intl Ltd Douglas" A Laurentide A Ferg Bioed Corp A B Cent Corp Co Sears Can A A Grp A ans Mtn Pipe Can Pipe Carbide Gas On S4sooe A imperial SooHa 41 Ootn 46.25 8.75 11.37% 19.00 14.75 9.00 7.12% 19.00 2.50 4.35 2.67 4.70 1.40 8.75 17.25 3.15 12.25 10.50 13.75 26.12% 24.87% 13.12% 32.12% 35.00 20.62% 8.25 14.75 21.62% 24.25 1.95 5.25 34.00 17.25 24.25 13.50 4.95 38.50 20.62% 27.75 x 23.87% 24.12% 13.50 6.00 10.12% 17.50 5.25 2.32 435 730 2.65 5.00 9.25 14.87% 21.75 39.75 15.87% 1475 6.37% 9.62% 2.90 8.87% 13.87% 9.25 13.00 6.62% 1000 2587% 1000 31.50 9.87% 11.37% 8.75 1775 800 750 305 4.90 17.75 21.00 18.12% 24 12% 1387% 36.87% 29.00 37.00 New York (Soppiied bf fUduntfwR Securities of Arm T 7 Anaconda Ctrrysler Oomsal Gs Motors Gtflf Jrrt Harvester Sears Exxon Texas Gtffl Texas Co Wlx Corporation Woc4worTh 10.62% 1725 WestlrigttatJSS 9SO 2725 US Steefl 42.OO 1062% Gen Tel 2787% TORONTO AVERAGES 10337% 20 Industrials 167.80 up 1 S3 34 62% 20 Golds 373 PS op 9 56 1862% 10 Base Mewls 65.41 wp 2S 2000 IS Western Oits 151.17 up 2.78 3387% Vcffwme 1587% NEW YORK AVERAGES 4975 SO 667 16 down 2 85 6887% 26 Rails 1S3S9wp 1.16 26 75 15 Utnmes 69.24 up 25 2387% 65 Slocks 213.21 wp 05 1062% Volume 9.080.000 OIL mine stocks lead i sharp TSE price rise TORONTO (CP) All ma- jor sectors of the Toronto stock market were sharply higher in light mid-morning trading today. The industrial index, wide- lybased indicator of market trend, was up 1.46 to 167.73, golds 5.28 to 368.77, base metals .15 to 65.31 and western oils 3.58 to 151.97. Volume by 11 a.m. was MONTREAL (CP) Prices were higher in light trading on the Montreal Stock Exchange today. Volume at a.m. was shares, compared with 105.900 shares at the same time Monday. The paper index led sectors, up 1.52 to 103.51. Industrials rose .97 to 175.61. the composite .76 to 170.87. banks .27 to 233 39 and utilities .25 to 121.23. Consumers Glass rose iv< to Moore to WalkerGooderham Worts class to Noranda Mines class "A" V4 to Alcan to MacMillan Bloedel to Price to Inter- national Nickel class "A" V4 to fUVt, Mercantile Bank V4 to and Imperial Oil class "A" Mi' to Northern Electric fell toKl'A. Cominco V4 to and Domtar 'A to Among speculative issues. Western Quebec Mines rose three cents to 26 cents after trading shares. VANCOUVER (CP) Prices were mixed in mixed and light trading on the Vancouver Stock Exchange today. First-hour volume ws shares. There were no industrials traded. In the oils. Freehold was unchanged at .53 on 1.000. In the mines Colby was up .06 at on 13.200. Volume on the curb exchange was 000 shares, up from at the same time Monday. Advances outnumbered de- clines 131 to 52 with 143 issues unchanged. Among the largest gains, Home Oil A rose 1 to 425, Tex- asgulf to Bow Valley to Alcan to and Moore Vt to Mclntyre gained to Rio Algom to Giant Market trends 3.700. Thor was down .10 at on 2.200. Monday prices were down in light trading. Total volume at the close was 1.400.402 shares. In the industrials, Canadian Javelin was unchanged at on 5.500 shares. Canlerra was down .06 at .25 on Block Bros, was up .15 at on 3400 and Gestalt was unchanged at .50 on 2.500. Canadian Pacific was unchanged at and Potter was unchanged at In the mines Gladiator was up .01 at .17 on 137.428 shares. Consolidated Beaumont was up .01 at .34, on Grandora was down 03 at .50 on 74.000 and Yukon Gold was down .05 at .38 on 61.331 Barrier Reef was down 10 at and Makaoo was unchanged at In the oils. Rand A was up .10 at .75 on 16.066 shares. Copex ws down .02 at on 6.600. Bison Petroleum ws un- chaned at on 6.500 and Seneca was down .03 at .73 on 6.000. Five Star was unchanged at .03 and Gavoil was down 03 at 22. Total volume on the curb exchange was 302.600 shares. GBS Electric was up .02 at .37 on 76.500. Tappan Copper was up .01 at .59 on 51.000 .Thor was up .05 at on 17.900 and Yellowstone was down '.05 at .55 on 13.000 Poco was unchanged at .50 and Dasher was down .01 at .57. Livestock Yeliowknife to and Cu- vier 13 cents to Canadian Superior was'up to Asamera to and Pan Ocean to Northern Electric fell to Vb, United Corp. B to and Weston Vs to Vs. Bethlehem A lost Vz to Canada Tungsten five cents to and Broulan Reef three cents, to 33 cents. NEW YORK (AP) Stock prices turned mixed today as bad news about another rise in the consumer price index moderated investors enthusiasm over the recent decline in interest rates. The Dow Jones average of 30 in- dustrials, up 5 points in early trading, was off 3 52 at 666.30 at noon, as Du Pont, one of its important stocks, head- ed down 2% to Monday Du Pont reported lower earnings for its third quarter but rose sharply, on short covering, brokers said. On Tuesday, some bank.-, continued to lower their prime rates into the 11 '4 to 11 MI per cent range, but the Labor Department reported consumers' cost of living rose at a high 14.4 per cent seasonally adjusted annual rate in September, principally on a food cost increase. t Trading continued active today as transactions ran ahead of the tape several times during the morning. Ad- vances continued to lead declines on the New York Stock Exchange. On the American Stock Exchange the market value index gained .56 to 69.93 at noon The broad-based NYSE composite index of all common stocks listed rose .12 to 38.84 at noon. Among Canadian issues on the NYSE. Dome Mines was up Tto Alcan to Seagrams to Canadian Pacific to and Massey Ferguson <'t 'to Calgary Hog prices Chicago markets CALGARY (CP) Receipts to 11 a.m. Tuesday at the Calgary public stockyards were head mostly good slaughter steers and cows. No'slaughter heifers traded and all classes of steers and cows met good local and eastern demand with trading active. Al-2 steers sold steady with sales to 49.10. Demand for A3-4 steers was good with sales to 47.75. Cows Dl-2 were steady and D3-4 were 50 cents higher. There-were no slaughter bulls offered. Steers Al-2 47.50-50.49: A3 4647.50: A4 44-46. Cows Dl-2 19.50-22: D3 16.500-19.50: D4 13-16. Too few feeder cattle and calves sold to establish prices. Hogs to II a.m. average base price 50.15. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon today was down 1-25 at 19-50. Pound sterling was down 3-50 at 4-25. In New York, the Canadian dollar was up 1-20 at 13-20. Pound sterl- ing was up 3-100 at 93-100. Winnipeg grain WINNIPEG (CP) Futures prices moved generally higher today through mid-session on the Winnippeg Com- modity Exchange. Strong gains were registered by flax and rye. with many other commodities gaining fractionally in good activity. Monday's volume of trade was 000 bushels of feed wheat. 1.366.000 of oats. of barley. 50.000 of corn. 655.000 of rye. 749.000 of flax and 2.424.- 000 of rapeseed. Mid-session prices: Thunder Bay rapeseed: Oct. 12 lower 9.63A: Nov. one lower 9.55A: Dec. five lower 9.25A: May one higher 9 368. Vancouver rapeseed: Nov. 2V< higher 9.64A: Jan. two higher 9.SZA: Mar. nine higher 9.3IB: June higher Flax: OcL 9Vi higher 12.10B: Nov. lOVi higher I2.10B: Dec. 9% higher 11.89KB: May lOVi higher Feed wheat: OcL one higher 3.71: Dec. higher May one lower .169 A: July two lower 3.67A. Com: Dec. one lower 4.1JA; Mr. v, higher 4 May iv< higher 4.23A: July not open. Barley: Oct. higher 3.01; Dec. 5 higher 2.99HB: May higher 3.09% A: July not open. Oats: Oct. higher U9BA; Dec. V. lower 1 May "i higher 1 94A; July two lower 1.9BA. Rye: Oct 6'4 higher 344-4A: Dec. 5'4 higher May higher 3JS6: July 3'4 higher 3 55'iB Grain quotes Monday basis Lakefaead: High Uv Owe Ftax Oct 1201 I1M Nov 1205 1197 Dec 1180 1177 Mar I16W. 1165 1167 RaptMcd TbMritr Bay Oct 978 9514k Nor SS6 Der SJI May S35 EDMONTON (CP) Prices to'11 a.m. Tuesday provided by the Alberta Hogs Producers Marketing Board. Monday's prices in brackets. Edmonton 50.10 Calgary: 50.15 Red Deer: 50.05 Grande Prairie: Nil (49.00) Lloydminster: Nil Fairview: Nil Lethbridge. Nil Fort Macleod: Nil Hogs sold to 11 a.m. 479. Hogs sold Monday 8.206. average 50.16. Sows average 32.10 Beef futures WINNIPEG (CPt Live beef futures close Monday. Nov. 47.00A: Jan. 4700N: July 4B.30N. Friday's volume: Ten contracts. Feed prices WINNIPEG (CP) Wheat board domestic feed grain prices: 2 CW Red spring wheat 3.68: No. 1 feed barley 299: No. 1 feed oats Metals LONDON (AP) Mondays closing metals in pound sterling per metric ton: silver in pence.per troy ounce. Copper: Spot 566-567: futures 584-585 Tin: .Spot 2.950-2.960. futures 2.970- 2.9BO Lead: Spot 229-230: futures 215-215.5 Zinc: Spot 320-321: futures 323.5-324 Silver: Spot 205.4-2059: 3 months 210.2 210.5 Gold prices LONDON (API Monday's closing gold prices in U S. dollars an ounce: London 157.50 Paris 16060 Frankfurt 155.64 Zurich 157.75 Hong Kong 152 83 Beirut 5.043 a kilo. Gold futures WINNIPEG