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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 30, 1974, Lethbridge, Alberta WcdrtMday, October 30, LETHBhlDGE HERALD The Herald Business Oil, bank stock prices up in light trading on TSE Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERT7 LIMITED WESTERN West AND Alton Albany Alta East Grp Ashland Oil BP A Brenda Cda Cdn Export Gas Cdn Gas Cdn Ind Nat Gas Cdn Long Cdn Metro A Chieftan Nat Dome C C B Nu Ft Giant Pipe A DO Gibraltar Pipe B Pipe Grt Cdn Oil West Lochiel Trans Lytton Mm North Cdn Numac PanCdn Pan Vi Place Ranger Oil Scurry Rain Davenport .42 5.00. Total Vi Ulster Pete United Canso West Pete West B.25 3.10 v Silver Standard Valley Copper' .90 5.00 Acres BC Sugar C Pfd Block Bros CanDra Foods Cdn Pac A Pfd Cdn Pac Inv Carting A Pfd Carting B Pfd Com Capital Crestbrook 3.35 2.50 27.75 19.00 1.50 Pete Stampede Int'lfies MUTUAL FUNDS All Cdn Compound All Cdn Dividend All Cdn Ventures Amer Growth Fund A.G.F. Special Cdn Invest .52 4.89 5.05 2.19 3.72 1.87 3.89 Crowsnest Indus Falcon Copper F M Commonwealth Eaton Leverage Eaton Int'l 2.52 4.31 Genstar Home Oil Investors Corp Invest Stock 3.72 Home Oil Fund Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh C Pfd Husky Oil Husky Oil B 24.25 27.00 56.00 In Shares Growth Equity Investors Growth Fund Investors Mutual Mutual Accum Nat 5.10 9.26 4.55 4.99 3.47 Husky Oil E War Inter Pipe War Inter S 2.50 Cdn N.W. Growth Principal 3.47 3.19 Kaiser Res Kaiser Res Loblaw C Magnasonics Pac Savings 6.62 3.81 TORONTO (CP) Prices on the Toronto stock market were sharply higher in light mid-morning trading today. The industrial index, wide- ly-based indicator of market trend, was up 1.16 to 165.29, its second consecutive gain. The gold index rose 3.32 to 456.72 and western oils .33 to 146.27. The base metal index lost .20 to 67.32. Trading w'as halted in shares of Slater-Walker of Canada, pending a release of information. The shares last traded at Royal Trust A rose IVi to 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'Eldona Dome Mines Discovery Mines East Malarbc East Sullivan Falconbridge Frobex First Maritimes Giant Y.K. Qranduc Hollinger "A" Hudson Bay A Hydra ex. Iron Bay ISO Joliet Quebec Ken- Addlson Key Anacon Labrador Lake Shore Langis Silver Madsen R.L. Malartic G.F. Martin McNeely Maclntyre Meta Midrim Intern Mogul NuWest Homes New Athona New Calumet Norands Northgate Norfex Pine Point Placer Oev. Pax Exp. Quebec Man Rayrock RadJore Rto Algxxn Roman Corp, Sherritt Gordon Sleep Sunntogdato Teh Co p. A Texnwt Mines WH Copper Mines Zeivmac BOW INDUSTRIALS Forest Sugar Valley Ind Ind Power Foods Cellulose O'Keefe Credit Gas Pfd Ind Marconi Vtckers Bathurst Gas Seagrams Bridge 1.40 Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper Oil Sid Walker A Erie Oil A A Nickel Pipe Grp A Intl Ltd Douglas A de A Ferg Corp Cent Corp Co Sears Can A A Grp A Min Pipe Can Pipe Gas Oil Sisooe 8.87V4 11.25 19.25 14.25 9.12'A 18.50 2.50 3.95 2.27 4.50 1.SO 8.00 17.25 3.05 12.00 9.87% 25.25 24.25 12.87V5 37.25 20.00 7.62% 14.50 2425 1.85 5.25 18.25 25.00 13.00 4.75 37.50 22.75 23.00 12.00 5.75 17.50 5.75 4J50 7.00 2J50 4.85 10.00 23.00 39.00 15.75 14.25 6.87'A 2.95 BJSO 925 12.75 6.00 26-37'A 1O2S 3050 Mean AJooma Steel Atcolnd Agra tod Bnncan A BCTcfl 9.75 23.75 41.25 1150 4SSO Woodwards A Can imperial Montreal Nova Scotia Royal Tor Dom BANKS 8.00 825 2.98 18.75 19.00 New York (Supplied by fUdrodMB Sccnftk i of Curia) Amr. T 8 T Anaconda Oupont Gerwrjfl Motors Girt 10.00 57 ry Ward Sears Exxon Texas Girt) Texas Co Who Corporation 19.50 69 10.37% Imperial Oil A to Bank of Nova Scotia -Vi to Toronto Dominion Bank to and Interprovincial Pipeline Vt to 114. St. Lawrence Cement A fell Vt to and Noranda A V4 to 133 Vi. United Keno was up Vt to Dome Mines to and Lytton Minerals 15 cents to Giant Yellowknife lost Vt to and Mattagami Vt to Total Pete was up to and Ranger to United Canso dropped Vt to WesWijfhouse Ber US. sSef Gem Btec 18.75 TOftONTQ AVERAGES 20 186.01 1 88 20 08 Wp 10 67.53 up 41 15 Western Ofts 147.70 up 1.76 Volurrw 920.000 NEW YORK AVERAGES 20 JrxJustrttfts 670.91 up 11.57 20 Bans 152.70 Up 4.14 IS Uflfffles 68 03 up .26 65 Wp 3.60 Volume 9.100.000 Chicago markets CHICAGO (AP) Soybean and soy- bean oil futures in the United States, under selling pressure for four days with limit declines every session, rallied Tuesday on the Chicago Board of Trade and closed sharply higher. Corn, oats, wheat and soybean meal futures also advanced. Iced broilers were steady to about one half cent a pound higher. On the Chicago Mercantile Ex- change, pork bellies fell the limit of 150 points, and live hogs and cattle also declined sharply. Shell eggs fell 55 to 190 points. Silver futures, up the limit Monday when gold prices improved, fell back the limit of 20 cents an ounce when gold prices eased. Copper futures fell 100 points along with silver's decline. Weakness in London cocoa worked New York cocoa prices lower. Cotton prices rose 190 points, along with a similar rise in orange juice futures, while world sugar gained 100 points under a strong demand associated with higher cash prices and a scarcity of sellers. At the futures were 30 cents a bushel higher, Nov. 7.90; Chicago wheat was two to four higher, Dec. 5.14: Gulf wheat was not traded; corn was eight to .10 -higher, Dec. and oats were 4% to 5% higher, Dec. Grain quotations: Wheat: Dec. 5.14; Mar 5.32; May 5.39; July 4.95: Sept 4.99; Dec-5.09. Corn: Dec Mar 3.84: May 3.87V4; July Sept 3.79; Mar 3.51. Oats: Dec Mar 1.88; May Winnipeg grain 1230 35.75 WINNIPEG (CP) Oilseeds con- tinued to show strength in good activi- ty- at mid-session today on the Win- nipeg Commodity Exchange. Rapeseeds eased slightly after open- ing up the 20-cent-a-bushel daily trading limit, but most months were 17 to 18 cents higher. Flax was at or nearthe trading limit in all months. Rye was mixed, ranging, from eight cents lower to 3% higher. Other commodities showed slight gains. Tuesday's volume of trade was bushels of feed wheat, of oats, of barley, of rye, of flax and of rapeseed. There was no trading in ,corn. Mid-session prices: Thunder Bay rapeseed: Oct. eight higher 9.19B; Nov. unchanged 9.20A; Dec. 7% higher May 18 higher 9.13A. Vancouver rapeseed: Nov. 17% higher 9.33B; Jan. 18 higher 9.18B; Mar. 17% higher 9.02; June 17% higher Flax: Oct. 29 higher 11.90A; Nov. 30 higher 11.8IA; Dec. 29 higher U.69A; May 29 higher 11.56A. Feed wheat: Oct. unchanged 3.86A; Dec. four higher 3.67; May one higher 3.67; July not open. Corn: Dec. unchanged 3.99B; Mar., May and July not open. Barley: Oct 2% higher Dec. 1% higher May 2% higher 3.11B: July not open. Oats: Oct. 1% higher Dec. two higher 1.93; May 3% higher July not open. Rye: Oct eight lower 3.20A: Dec. 4% lower May higher July 3V4 higher 3.45UA. Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Wednesday from the Calgary public stockyards totalled head, practically all cows and slaughter steers. Trade was moderately active with good local and eastern demands. Slaughter steers sold strong. There were insufficient slaughter heifers sold early to establish quotations. Good cows sold at about steady prices with lower-grade cows selling lower. Steers. Al. A2: 48.50 to 49.70. A3: 45 to 47. A4: 43 to 45. Cows, Dl, D2: 20 to 22.50. D3: 16 to 19. D4: 12 to 16. Butts, good: 23 to 25. There were insufficient feeder and stock cattle sold early to establish a market Hogs f.o.b. to 11 a.m.: 48.55. Hog prices EDMONTON (CP) Prices to 11 a.m. Wednesday provided by the Alberta Hog Marketing Board. Toes- day prices in brackets. Edmonton: 48.55 Calgary: 4835 Lethbridge: 48.10 Fort Macleod: Nil Hogs soM to 11 a.m. 501. bogs sold Tuesday 7.277. Average 48.70. sows average 3260. Gold futures WINNIPEG Gold fntares. US. Winnipeg Commodity Ex- change dose TatJdjy- Oct 74 MG50: Jan 73 170.00: April 75 176 July 75 181506: Oct 75 Monday's votane: 414 contracts. NOT 74 188 OOB; Feb 75 171 JS: May 75 177.40B: 75 I84.40A: Nor 75 MPffA. votoroe: 258 contracts. Gold prices LONDON Tocsdiy's dosing gold in UJS. dollars an onnce: Ixnxfem 167.75 Palis 174.17 Zurich -198 34 Hong Kong 16334 Retort a kilo Currencies MONTREAL Wednesday's row-day foreign exchange seRtag mtu supplied by fee Bank of Montreal- France franc Grain quotes Tuesday Lakehead: High Low Oct 1161 1132 Nov 1161 1140 Dec 1140 1110 May 1127 1107 Rapewed Thunder Bay Oct 911 894 Nov 920 918V4 Dec 907 897 May 895 884 Rapeaeed Vancoover Nov 303 Jan 900 890 Mar 883% 875- Jun 868V4 858 Corn Basis Montreal Dec Mar May Jly Rye Oct Dec S3414 318 May 349V, 334 Jly Barley Oct 295 289% Dec 296 29014 May 308% 302 Jly Oats Oct 194 19214 Dec 191% 189% May 192% 190% Jly" Feed Wheat Oct 386 366 Dec 363 355 May 366 357 Jly basis Close 1161 1161 1140 1127 911 920 907 915% 900 883% 868V4 399 410% 413 409 328 328% 343 342 295 296 308% 309% 194 191 192% 194 386 363 366 Market trends MONTREAL Prices were higher, in light trading on the Montreal Stock Exchange today.' Banks rose 2.67 to 219.52, industrials 1.24 to 174.72, the composite 1.23 to 168.99. utilities .50 to'121.45 and papers .30 to 103.63. Royal Trust class "A" ro.se Hi to Bank of Nova Scotia to Falconbridge Nickel to Cana- dian Imperial Bank to City and District'Savings Bank Vz Toronto-Dominion Bank to f34tt, IAC Ltd. to and Q.S.P. Ltd. Vt to Bank of Montreal fell to and Canadian Javelin Vi to Among speculative issues, Belleterre Quebec Mines fell nine cents to 49 cents after trading shares. Prices were up in light trading on the Vancouver Stock Exchange today. First-hour volume was shares. In the industrials, Block Bros, was up .05 at on 700. In the mines, Colby was up .01 at on In the oils, Payette was up a half cent at .16 on Prices were up Tuesday in light trading. Closing volume was 826.220 shares. In the industrials, Jolly Jumper was unchanged at .14 on 6.200 shares. Cana- dian Javelin was up .12% at on 5.500. Pace was unchanged at .51 on 800 and Block Brothers was unchanged at at Venture was unchang- ed at .10 and Cornat was unchanged at In the mines, Consolidated Beau- mont was down .01 at .37 on shares. Colby was up .10 at on 41.900, Makaoo was unchanged at .13 on and Gladiator was down .01 at .14 on Grandora was up .02 at .44 and Northair was down .01 at In the oils. Bison was up .05 at on 11.500 shares. August was down a half cent at .16% on 6.787. Coynex was up .10 at on and Davenport was up .02 at .42 on 4.000. Earlcrest was unchanged at .02% and Payette was unchanged at Curb volume was shares. Mark V was up .07 at 95 on Dasher was' down .04 at .54 on Brewster was unchanged at .20 on 000 and Thor was up .05 at on Rainbow was up .10 at ,.95 and Adar was unchanged at .04. NEW YORK (AP) The stock market paused today for an early round of profit taking, then resumed its latest rally. The Dow Jones average of 30 in- dustrials, almost unchanged after the first hour of trading, was up 10.40 at 669.74 by noon. Gainers led1 loses by better than 2-to-l on the New York Stock Exchange. The NYSE's noon composite index of all its listed common stocks was up .70 at 39.07. Houston Oil and Minerals, the American Stock Exchange volume leader, rose to .Among- Canadian issues on the NYSE. Dome Mines was up 1'A to Inco Vt to and Seagrams Vi to Feed prices WINNIPEG (CP) Wheat board domestic feed grain prices Tuesday: 3 CW red spring wheat 3.63; No. 1 barley 2.96; No. 1 feed oats 1.91. Bank economist predicts '75 economy 'slowdown A senior banking economist predicted Tuesday that there will be a "clearcut slowdown" of the Canadian economy in 1975. Forrest Rogers, economic adviser with the Bank of Nova Scotia, said the economy's rate of growth will drop to around two per cent next year, down from an expected .rate of 4.5 per cent this year. "I am now looking for'more of a clear cut slowdown than many other Canadian analysts appear to expect, and I re- main seriously concerned about how satisfactorily we shall deal with either our inflation problem or the world oil problem." He told a construction mar- keting seminar that a two-per- cent rate of growth in 1975 "would be substantially below the country's underlying potential growth rate." Another banking economist, Dr. G. E. Angevine, of the Canadian Imperial Bank of Commerce, said the 1975 growth rate would drop to around three per cent, with the present slowdown continu- ing until the middle of the year before improving in the last half. "Assuming that the econo- mies of our major trading partners, including the United States, resume reasonable rates of growth in the second ihalf of 1975, the over-all product of the Canadian economy will probably ex- pand by some three per cent." GOOD MOMENTUM In another estimate made earlier Tuesday in Calgary, Jack Toten, Bank of Montreal vice-president of planning and economics, said Canada's economy will have "good forward momentum" with a growth rate of 3.5 to four per cent during 1975. Mr. Rogers reminded his Toronto audience that there Interest rate cut seen next year LONDON, Ont. senior official of the Royal Bank of Canada predicted Tuesday that interest rates in Canada will come down at least two percentage points and that the economy may ex- perience real growth of three or four-per cent in 1975. W. Douglas M. Gardiner, deputy chairman and ex- ecutive vice-president, said in an interview that the prime interest rate in the United States is expected to drop to 10 Market phone WINNIPEG (CP) Livestock producers now can get up-to-date information on prices at selected markets throughout Canada from a telephone information ser- vice, it was announced Tuesday. The service, operated by the federal department of agriculture, is available daily after p.m. EST and can be reached by dialing 1-613- 722-1623 or 722-2160. per cent by the end of the year, which should be follow- ed by an interest-rate drop in Canada in the new year. Canada's prime interest rate is 11% per cent. Since July, the prime interest rate in Canada has held steadily at 11 Vi pfer cent, but banks quote this figure to only their best corporate borrowers. Mr. Gardiner was op- timistic about Canada's economic future. "We can't always have a he said. "Wages are good and unemployment is at a reasonable level. We're not in a recession." Mr. Gardiner was here to speak to the Chamber of Commerce. FORM NEW GROUP Swedish Airport Construq- tion Group (SACON) is the name of a grouping recently formed by five Swedish com- LM Ericsson, Saab-Scania, Skanska Cementguteriet and AB Teleplan. was a significant divergence of opinion on the busiriess out- look. "It seems rather foolish in my view to attach too much significance to precise number or scenarios for the business trend of Mr. Rogers said. It was more important to watch how closely Canada can cool inflation and how the world community copes with its trad.e and payment problems. There, was general agree- ment that the weaker parts of the economy will be the foreign trade and housing. LAB ATT S ALBERTA BREWERY Mr. J. J. (Jim) Hanson Mr. D. G. McGill, Vice-Presi- dent of Western Canada Region of Labatt's Breweries of Canada Ltd. is pleased to announce the appointment of Mr. J. J. (Jim) Ranson to the position' of Vice-President and General Manager of Labatt's Alberta Brewery. Mr. Ranson, a graduate of Queen's University, has sev- eral years experience in the field of Personnel Manage- ment and most recently was Vice-President and General Manager of. Labatt's Saskat- chewan Brewery. In his new capacity, Mr. Hanson will be responsible for the overall operation of Labatt's in Alberta, and will be located in Edmonton. J8WUBS Mexico peso CHS Switzerland franc ,3580 United States dollar .9875 United Kingdom pound 24BW) nAte 1.2BB Give your heating system a safety check-up, Normally your natural gas appliances and heating system operate with little care or maintenance. However, an annual check-up will ensure full, efficient operation and complete comfort. To help you inspect your heating system, use this handy guide. CHECK YOUR CHIMNEY: Loose sooi and oitser debus may accumu- late an nhe base of 5he chimney Obsltwcung free passage 01 the o'odwds ol afld snow on lop ihe chimney do no! cause blockage RANGES SHOULD NOT BE USED TO HEAT A ROOM: Do ncil use vouii fange 10 heal a JQQTTI Use otopet healer de- signed IDT she purpose CHECK ALL VENT PIPES: titam me aII aopliance vent dues A dislodaed veffl may ithe end o! 5he OT oetnm extiausi no ihe -room BE ALERT TO DANGER SIGNALS: Smarting o1 eyes, nose and unpleasant odo's ate indicaJions oJ in VOWT home FRESH AIR SOURCE: Be sute