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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 23, 1974, Lethbridge, Alberta WMfntMtey, October 23, 1974 THE LETHBRIDQE HERALD 27 Market prices hit slump after 4-day gain streak TORONTO (CP) Prices on the Toronto stock market dropped sharply in light mid- morning trading today, after recording gains the previous four days. Western oils led the decline, off 1.64 to 149.01. The in- dustrial index fell 1.09 to 166.99 and base metals .12 to 66.24. Golds rose 2.30 to 385.35. Volume by 11 a.m. was 000 shares, down from at the same time Tuesday. Declines outnumbered ad- vances 130 to 74 with 121 issues unchanged. Cornat Industries resumed trading at the open and the common stock was up 30 cents to Canadian Forest Products Ltd. said it had ac- Market trends VANCOUVER (CP) Prices were down in light trading on the Vancouver Stock Exchange today. Opening volume was shares. In the industrials, Cornat was dow, at on shares. In the mines, Grandora was down .01 at .51 on shares. In the oils, Cop-Ex was unchanged at .16 on shares. Curb volume was shares. Thor was down .05 at on 3.000 shares. Prices Tuesday were up in moderate trading. Final volume was shares. Industrials leader was Cornat, un- changed at on Jolly Jumper was unchanged at .11 on Canadian Imperial Bank was unchang- ed at on Block Bros, was up .20 at on shares. Mer- curia was unchanged at .04 and Cana- dian Javelin was unchanged at In the mines, Consolidated Beau- mont was up .02 at .36 on a turnover Oxbow was up .04 at .29 on Grandora was up .01 at .52 on shares. Colby mines was up .01 at on Anglo Bomarc was unchanged at .45 and Gladiator was down .01 at .16. Payette led the oils, closing down .01% at .17% on shares. Seneca Developments was up .02 at .75 on Davenport was up .02 at .38 on Bison Petroleum was down .05 at on shares. Rose Pass was down .01 at .14 and August petroleum was up .02 at .19. On the curb exchange, final volume was 240.-850. Geor minerals and oil was up .01 at .31 on Tapin copper was down .02 at .57 on Dasher dipped .02 to .55 on shares traded. Thor Explorations was up .05 at on Santa Santa was up .01% at Starfaird was unchanged at .10. MONTREAL (CP) Prices lost ground in light trading on the Montreal Stock Exchange today. Volume at a.m. was shares, compared with shares at the same time Tuesday. All sectors moved lower. Banks fell 1.22 to 232.15, papers .80 to 102.92, in- dustrials .78 to 175.58, the composite .75 to 170.53 and utilities .40 to 120.28. Royal Bank fell to Brascan class "A" Vt to Imperial Oil class "A" Vt to International Nickel class "A" Vt to Massey- Ferguson Vt to Moore to Newfoundland Light and Power to Abitibi Paper to IU International to and Walker- Gooderham and Worts class "A" to Among speculative issues, Silver Stack .Mines rose six cents to 64 cents after trading 11.200 shares. NEW YORK (AP) The stock market fell broadly in moderate trading today, led by auto stocks and glamor issues. Chicago markets CHICAGO (AP) Commodity futures generally traded within tight price ranges Tuesday on major ex- changes in the United States. Silver futures came under heavy selling pressure in the closing minutes in New York and dropped some 12 cents an ounce, but the loss was about 14 cents on the Chicago Exchange. Wool, copper, cotton and world sugar contracts also declined, but coffee and orange juice futures were mixed while cocoa prices edged ahead. Wheat futures gained about 10 cents a bushel on the Chicago Board of Trade but corn and oats prices were mixed, while soybeans and soybean meal were lower. Soybean oil was independently strong, gaining about 90 points. Iced broilers were mixed after a session of light trade. Pork bellies gained their limit of 150 points on the Chicago Mercantile Ex- change, white live hog and cattle futures closed on mixed tones and shell eggs were some 75 paints higher. At the close. Chicago wheat was six to 10 cents higher. Dec. Gulf wheat was not traded: com was one lower to two higher. Dec. 3.82; oats were one to Bi lower. Dec. 1.92: and soybeans were four to 10 lower, Nov. 8.48. Grain quotations Tuesday: Wheat: Dec 5.28: Mar S.43: May 5.44: July 5.02: Sept 5.07: Dec 5.19. Corn: Dec Mar May 3 July 3.96; Sept Dec 331. Oats: Dec 1.92: Mar May 1.96'i. The Dow Jones average of 30 in- dustrials was of f 14.63 at 648.23 at noon, and issues falling in price out- numbered gainers by 3 to 1 on the New York Stock Exchange. Analysts said profit taking was spurred by concern over government reports issued Tuesday showing a drop in durable goods orders accompanied by a 1.2 per cent climb in consumer prices for September. Further, a leading bank voiced pessimism that the economy can rebound soon. Avon Products led the NYSE ac- tives, off 1% at including a share block at On the American Stock Exchange, the market-value index was off 0.58 at Motor stocks were especially weak among the most-actively traded issues, reacting to lower earnings, sales and production levels being reported. General Motors declined a point to Ford 1% to and Chrysler to JlOtt. Among Canadian issues on the NYSE, Dome Mines was up to while Alcan was down to and International Nickel V< to Canadian Pacific and Mclntyre were unchanged at and respec- tively. Winnipeg grain quired the 2.65 million shares of Cornat it was seeking under an offer of a share. Imperial Oil A fell to Occidental Pete to Bow Valley to Abitibi to and Hudson's Bay Co. to Canada Tungsten lost 30 cents to United Siscoe five cents to and Giant Mascot two cents to 70 cents. Siebens was down Vt to and Ranger Vt to Stelco A rose to Mclntyre Vt to Agnico- Eagle to and Camflo to Canadian Superior gained to and Total Pete to Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Wednesday from the Calgary public stockyards totalled bead, mostly slaughter cows, yearling steers and heifers. There was a light run of slaughter steers and heifers in active trading for all classes. There were good local and eastern demands. No Al and A2 steers were on offer. A3 and A4 steers sold steady. Al and A2 heifers were SO cents higher. Dl and D2 cows sold 75 cents higher with some sales to Slaughter bulls were lower. Steers, A3: to 47.50. A4: 44 to 46. Heifers, Al, A2: 42 to 44. A3: 40 to 42. Cows, Dl, D2: 20.75 to 23.25. D3: 17.75 to 20.75. to 17. Bulls, good: 24 to 26.50. There were insufficient cattle or stock calves sold early to establish a market. Hogs f.o.b. to 11 a.m.: 49.55. The Herald Business Big U.S. oil companies profits continue increase Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERT" LIMITED. WINNIPEG (CP) Most futures prices eased in modest activity at mid session today on the Winnipeg Com- modity Exchange. Rye and rapeseed were the only ma- jor losers, with prices as much as eight cents a bushel lower. Tuesday's volume of trade was bushels of wheat, of oats, of barley, of. corn, of rye. of flax and of rapeseed. Mid session prices: Thunder Bay rapeseed: Oct. four lower 9.54A; Nov. four lower 9.53A; Dec. unchanged 9.30; May six lower 9.35A. Vancouver rapeseed: Nov. eight lower 9.62A; Jan. three lower 9.49A; Mar. four lower 9.26A; June eight lower 9.06V4A. Flax: Oct two lower 11.98A; Nov. one lower 11.96A; Dec. four lower 11.76; May four lower 11.67A. Feed wheat: Oct. one higher 3.67B; Dec. 1% lower 3.62A; May five lower 3.55A; July six lower 3.60A. Corn: Dec. Vi lower 4.1K4A; Mar. Vk lower 4.19A; May three lower 4.20A; July unchanged 4.20N. Barley: Oct unchanged Dec. Vi lower May unchanged 3.08B; July lower 3.13V.A. Oats: Oct. higher 1.96A; Dec. un- changed 1.94V4A; May Vi higher 1.93A; July unchanged Rye: Oct three lower Dec. lower 3.42A; May 5% lower 3.54; July 3tt lower Grain quotes Tuesday basis Lakenead: High Low Close Flax Oct 1201 1198 1198 Nov 1210 1197 1197 Dec 1189% 1180 1180 May 1178% 1167 1171 Rapeseed Tbnder Bay Oct 964 955V, 958 Nov 960 955 957 Dec 930 May 94314 935 941 Rapeseed Vancouver Nov 97U4 982 970 Jan 960V4 ,941 952 Mar 940 919 930 Jun 923-6 899V4 914% Cora Basis Montreal Dec 413% 413 413 Mar 421V4 420 420 May 423 Jly 420 Rye Oct 350V4 346U 346% Dec 352 348% May 363% 359% Jly 361 360% 360% Barley Oct 301 299% 299% Dec 300 298 296 May 309% 301 308 Jly 313% Oats Oct 198% 195% 195% Dec 195% 194% 194% May 194 192% 192% Jly 196% Feed Wheat Oct 371% 365 366 Dec 368% 363 363% May 369 360 360 Jly 376 (3YMTTW) GUARANTEED SAVINGS CERTIFICATES InMmtpayaMo Member Canada Deposit Insurance Corporation can pwctmt Olympic cofew Fm FARMERS A MERCHANTS TRUST Hog prices EDMONTON (CP) Prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board. Tuesday prices in brackets. Edmonton: 49.60 Calgary: 49.55 Red Deer: 49.60 Grande Prairie: Nil Lloydminster. Nil Fairview: Nil Letbbridge: Nil Fort Macleod: Nil Hogs sold to 11 a.m. 432. Hogs sold to 11 a.m. 432. Hogs sold Tuesday average 49.62. Sows average 32.5. Earnings THE CANADIAN PRESS Alliance Building Corp. Ltd., nine months ended Sept. 30: 1974, a share; 1973, 74 cents. Asbestos Corp. Ltd., nine months ended Sept. 30: 1974, a share; 1973, loss, no per-share figure. Baton Broadcasting Inc., year ended Aug. 31: 1974, 53.1 cents a share; 1973, 42 cents. Canadian Pacific Investments Ltd., nine months ended Sept. 30: 1974, a share; 1973, 83 cents. Cbmpotel Systems Ltd., year ended Aug. 31: 1974, Loss, no per- share figure; 1973, loss, no per-share figure. Currencies MONTREAL (CP) Wednesday's mid' day foreign exchange selling rates supplied by the Bank of Montreal: Australia dollar 1.305 Bermuda dollar l.Oi China renminbi .5125 Denmark kroner .1680 France franc .2120 Germany mark Italy lira .001520 Japan yen.003343 Mexico peso .0805 Netherlands guilder .3760 Norway krnoer .1830 Spain peseta .0172 Sweden kroner .2300 Switzerland franc .3460 United States dollar .9865 United Kingdom pound 2.3200 U-S.R. ruble 1-2958 Quotations in Canadian funds. Gold futures WINNIPEG (CP) Gold future. U.S. funds. Winnipeg Commodity Ex- change dose Tuesday. contracts: Oct 74 158.00B; Jan 75 161 JOB: Apr 75 166.90A: July 75 172.50A; Oct 75 17S.OOA. Monday's volume: 223 contracts. lltvnce cwtncts: Nov 74 I5B.75A: Feb 75 164.00: May 75 170.00A; Ang 75 175.30A: Nov 75 18155, Monday's volume: 121 contracts. Feed prices WINNIPEG (CP) Wheat Board domestic feed grain prices Tuesday: 3 CW Red Spring wheat No. L feed barley No. 1 feed oats! JH'i. mkt pgbecf Mores WINNIPEG