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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 31, 1973, Lethbridge, Alberta The Herald- Business Stocks 11 A.M. Trac Tel Acme Advocate Asb. Akaitcho 1.25 1.10 BC Forest BC Sugar Bow Valley Ind Broulan CAE Ind Brew Brunswick Can. NW Land Canada Tung. Casslar Central Pat. 8.65 3.05 13.25 1.06 1 Cdn Cellulose Cal Power Coron Cred CWN Gas Pfd Cdn Indus Conwest Cons. Rambler Coin Marconi Cdn Vickers Chrysler Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome 7.70 3.15 47.50 .42 Cominco Cons Bathurst Cons Gas Dist Seagrams Dom Bridge Discovery Mines East Malartic East 3.50 Dom Textile Dom Stores Falconbridge Frobex First Maritimes Giant Y.K. Granduc Hollmger Hudson Bay Hydra Ex. Iron Bay .26 .95 8.75 4.00 47.50 29.75 .25 3.85 2 Glen Mobile Grt Cdn Oil General Motors Grt Lakes Paper Gulf Oil Cda Greyhound Hawker Sid Hiram Walker Huron Erie Joliet Oil Kerr Key Anacon Labrador Lake 4550 Nickel Int Pipe Inv Group A Langis Silver Madsen Internal Indust Accept Malartic G.F. Martin McNeely Kelly Doug A Laurentide 1 noK Midnm Intern Mogul Nu West Homes New Athona New Calumet 9.75 10.25 .12 A Metropolitan Mass Ferg McMil Bloed Moore Corp Molsons A Northgate B Nachurs Pine Point Placer Cent Power Corp Pax Exp. Rayrock 1-15 Co Rothmans Shell CDA Rio Algom Roman Corp. Sherritt 12.75 Simp Sears Steel Canada Steep A Tek Corp. Texmont United Canso Western Mines W. House Copper Mines Wright Hargreaves Willroy Windfall Yellowknife 21 25 350 3.20 .91 1.12 Trad Group A Trans Mtn Pipe Trans Can Pipe Union Carbide Union Gas Union Oil United Siscoe Versatile Mfg 11AM. A Cdn Seed Elec Algoma Imperial Atco Scotia Agra Bell Dom M iscella neous Vancouver, Calgary, Montreal (Supplied by Doherty, McQuaig Ltd.) 11 A.M. Trust 28.00 WESTERN 6.00 AND 4.70 Afton Cdn Seed 6.00 Albany Min 1.42 A Pfd 59.50 Yukon 10.25 LINE STOCKS Alta East Gas A 12.12Vz BP Gas Pfd 67.50 Brenda Nat Gas 20.50 Can Nat Gas 9.75 Cdn Ex Metro 5.12V2 Cdn Metro A 67.00 Cdn Ind Gas and C Gas 11.50 Cdn Long Is Vi and C B Pfd 23.00 Pacific Trans 11.00 Cdn Super Dome Can Pipe 34.50 Tr Can A Pfd 64.00 Can B Pfd 39.37 Vz Fort Can War 7.50 Giant Trans Trans Wts 3.45 Gt Plains Gt Cdn Oil 70 Lytton Mm Noble Oils .05 N Continental .01 North Cdn Oil Warner .31 VANCOUVER Pancdn Pan Explor .35 Norse .80 2.10 Place .45 Varden .25 Ranger Scurry Res. .1714 Lornex 13.50 .08 Spooner .12 Silver Stand 1.48 Ulster United Canso West Pete West 7.50 Copper INDUSTRIALS Columbia Brew 4.00 Key Industries .20 1 .75 Acres Ltd Aquitaine BC Sugar Pfd Block Bros Cdn Pac Inv Pfd Com Cap Corp Cdn Brew A Pfd Cdn Brew B Pfd Crestbrook Ind Crowsnest Ind Falcon Copper F and M Trust 25.25 14.50 3.50 2.75 25.50 31.00 31.00 14.50 Explor .93 Plains Pete Ponderay Explor .85 Stamp IntI Res 1.01 MUTUAL FUNDS All Cdn Com 7.43 8.08 All Cdn Div 7.88 8.57 All Cdn Ven 3.96 4.30 Amer Grow F 5 70 6.26 AGF Special 3.07 Cdn Invest F 5.43 5.95 Collec Mutual 6.31 6.73 Com Inter 15.07 16.56 Global Com Unit Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky B Pfd Husky D War Husky E War Hys of Canada Inter Prov Pipe Inter Prov Steel Kaiser Res Loblaw C Pfd Magnasonics Pacific Pete Pac West Air Pe-Ben Oilfield Rainier 55.75 49.50 21.00 49.00 55.50 61.00 28.87W 42.12'Xz 12.12Vz 13.37V4 4.00 9.80 14.75 4.70 27.50 7.25 35.25 9.75 8.00 Lever 3.91 4.30 Com Ven 7.49 8.23 Corp Invest 6.71 7.37 Corp In S F 5.67 6.23 Dreyfus F U.S. 11.88 13.02 Grpd Income 3.75 4.12 Grow Equity 8.33 9.15 Invest Grow F 13.09 14.31 Invest Mut 6.28 6 87 Mut Accum 6.55 7.20 Mut Grow F 3.91 4.30 Nat Res 5.47 6.01 NW Cdn 6.10 6.70 NW Grow 5.43 5.97 Prin Grow 5.19 5.70 Prov Mutual 8.16 8.93 Royfund 7.39 7.68 Temple Grow 8.54 9.36 United Accum 5.40 5.93 Univer Sav 8.47 9.32 Vanguard 7.00 7.67 Prices on stock market lower in active trade Wednesday, October 31, 1973 THE LETHBRIDQE HERALD-19 Toronto mines, industrials (Supplied by Richardson Securities of Canada) S1.37H 16.00 24.75 20.25 17.50 10.50 4.15 6.00 8.25 2.20 10.50 3.90 22.75 16.62% 32.50 16.75 43.75 38.75 26.25 33.00 9.50 8.80 62.25 29.50 34.00 17.50 5.75 56.00 31.50 46.00 30.50 37.25 25.00 25.50 19.25 6.00 5.25 11.00 4.90 14.50 24.50 57.62% 25.75 24.75 14.00 11.25 18.25 15.25 20.25 13.00 34.12% 16.50 54.50 19.00 15.50 3425 10.50 15.25 7.40 7.75 21.00 20.00 23.75 6.00 3.20 20.75 39.50 38.25 38.62% TORONTO (CP) Prices on the Toronto stock market moved moderately lower in active mid-morning trading today. The industrial index, consid- ered the major indicator of market trend, was off .67 to 236.86.and base metals 1.03 to 110.90. Golds rose .15 to 280.82 and western oils .34 to 282.03. Volume by 1 a.m. was 000 shares, down from 1.27 million at the same time Tuesday. Declines led advances 196 to 119 with 209 issues unchanged. Real estate, industrial min- ing, chemical and paper and forest stocks were among de- clining market sectors while pipeline, oil refining, commu- nication and general manufac- turing issues were higher. Na-Churs International feel to Inco Vz to Molson A to Dylex A to and Home Oil B to Shell Canada rose to Guardian Capital Vi to Canadian Tire A to Gulf Canada to and Imperial Oil Vs to Roman Corp. was off Vt to Kerr Addison V4 '.o and Denison to United Siscoe gained 20 cents to and Bankeno 15 cents to United Canso slipped to and Scurry-Rainbow Vs to Western Decalta gained 20 cents to MONTREAL (CP) -Prices were generally lower in moderate trading on the Montreal stock market today. Combined volume on the Montreal and Canadian stock exchanges at a.m. was shares, compared with shares at the same time Tuesday. Papers dropped 1.28 to 157.83, banks .54 to 291.21, in- dustriajs .48 to 268.90 and the composite .31 to 247.56 while utilities rose .33 to 149.08. On the Montreal Stock Ex- change, Falconbridge Nickel fell IVz to Consolidated Bathurst to CFCN Communications Vz to and Bank of Montreal Vs to while Dome Petroleum moved up to Vz. On the Canadian Stock Ex- change, Standard Gold Mines rose IVz cents to 27 Vz cents on a volume of shares traded. Beef futures WINNIPEG (CP) Live beef futures close Tuesday. Nov-46.50B; Jan-53.00; Mar 52.20A; May 51.60B. Monday's volume: 15 contracts. Earnings By THE CANADIAN PRESS Algonquin Building Credits Ltd., nine months ended Sept. 30: 1973, 18.6 cents a share; 1972, 000 16.1 cents. Cominco Ltd., nine months ended Sept. 30: 1973, a share; 1972, 73 cents. Dominion Foundries and Steel Ltd., nine months ended Sept. 30: 1973, a share; 1972, Guaranty Trust Co. of Can- ada, nine months ended Sept. 30: 1973, 70.5 cents a share; 1972. 85.9 cents. Inter-City Gas Ltd., nine months ended Sept. 30: 1973, 26.5 cents a share; 1972. 19.7 cents. Neonex International .Ltd., nine months ended Sept. 30: 1973. 39 cents a share; 1972, 37 cents. Nowsco Well Service .Ltd., nine months ended Sept. 30: 1973, a share; 1972. 51 cents. Pacific Petroleums Ltd., nine months ended Sept. 30: 1973, a share; 1972. 97 cents. Pine Point Mines Ltd., nine months ended Sept. 30: 1973, a share; 1972, Southam Press Ltd., nine months ended Sept. 30: 1973, a share; 1972, 77% cents. VANCOUVER (CP) Prices were up Tuesday in moderate trading on the Van- couver stock exchange. Volume was shares. On the industrials board, speculators fund was at on shares. Block Brothers was at on shares, Webbetknap fell .07 to .41 on shares, Mercuria was at .51 on shares, Thermo Plex was at and lonarc fell .04 to Most active issue in the mines, Cutlass was up .07 at on shares. Green Eagle rose .05 to .22 on shares, Conoco Silver was at .10 on shares, Brendon was at .30 on shares. Silver Standard was down .07 at and Northair rose .09 to .54. In the oils, Whistler was up .01 at .32 on shares. Monterey A was up .03 at .59 on shares, PRP Ex- plorations was up .05 at .93 on shares. Vargas was' down .01 Vz at .14 on shares. Seneca Developments was at and Williams Creek Gold was up .02 at .25. NEW YORK (AP) The stock market vacillated today as Wall Street displayed what analysts said was concern over the unsettling news events of the last few weeks. The Dow Jones industrial average, which had been down more than six points at the start of the session, erased the loss and was up .23 to 968.77 at noon. Among Canadians on the New York exchange, Dome Mines was up Vz to and Canadian Pacific Vi to Hudson Bay was down '4 to and Alcan to Inco was unchanged at and Seagrams at Winnipeg grain WINNIPEG (CP) Small commercial buying and a lack of hedging pressure pushed flax prices up near the daily limit at mid session today on the Winnipeg Commodity Ex- change. Rapeseed, after a slow start, gained nine to 13 cents on good commission house buying while oats and barley worked fractionally to slightly higher in a local trade. Rye continued to post strong gains in a moderate volume of business. Tuesday's volume of trade was bushels of flax, 2.318.000 of rapeseed. of rye, of oats and 000 of barley. Mid-session prices: Flax: Oct. lOVz higher 9.39VzB: Nov. 29 higher 9.35B; Dec. 39Vz higher 9.22B; May 38 higher 8.90B. Rapeseed Vancouver: Nov. 11 higher 5.27B; Jan. 11V2 higher 5.22B; March 13 higher 5.14M.B; June 11 higher 5.04B. Rapeseed Thunder Bay: Oct. 12% higher Nov. 13 higher 4.75A: Dec. 9 higher 4.75VzB; May 9Vz higher 4.85B. Oats: Oct. not open; Dec. higher May unchang- ed July not open. Barley: Oct. unchanged 2.26B; Dec. 2Vi higher 2.22B; May higher 2.19VzB; July not open. Rye: Oct. 2V4 higher 2.27V4; Dec. 6 higher May 7Vz higher July higher 2.26VZA. Grain quotes Tuesday basis Lakehead: High Low Close Flax Oct 929 900 929 Nov 927 898 906 Dec 906% 877 872 V2 May 873 838 852 Rapeseed Vancouver Nov 516 Vz 508 516 Jan 512 500 510Vz Mar 503 485 501 Vz Jun 493 483% 493 Rapeseed Thunder Bay Oct 463 445 463 Nov 462 449 462 Dec 466V2 455 466 te May 475 Vz 465 475 Vz Chicago grain New York (Supplied by Richardson Securities of Canada) Amr. T4T Anaconda Beth. Steel Chrysler Comsat Dupont General Motors Gull Int. Harvester Kenn. Copper Montgomery Ward Sears X-Ron Texas Gulf Texas Co. Corporation Z2.1ZV4 31.87V4 36.50 29.00 48.75 Woolworth 28.50 Westlnghouse Elec. 33.87% U.S. Steal 23.00 Gen. Tel. Elec. 51.50 TORONTO AVERAGES 192.00 20 industrials 237.93 up .40 62.75 20 Golds 280.69 up .02 23.37% 10 Base Metals 110.63 down 1.30 32.50 15 Western Oils 285.07 up 3.38 37.12% Volume 23.87% NEW YORK AVERAGES 94.50 20 industrials 967.18 down 1.35 95.62% 20 Rails 183.68 up 1.58 31.62% 15 Utilities 100.23 down .51 31.62% 65 Stocks 294.66 up .10 15.75 Volume Dividends Dividends are quarterly un- less otherwise noted. Deltec International Ltd., 10 cents, initial, Dec. 5, record Nov. 16, Dominion Citrus and Drugs Ltd., 10 Jan. 15, 1974, record Dec. 28, 1973. Kelsey-Hayes Co., 50 cents, special, Dec. 3, record Nov. 9. Monenco Ltd., 10 cents, Dec. 1, record Nov. 15. Photo Engravers and Elec- trotypers Ltd., 30 cents, Dec. 1, record Nov. 9. Selkirk Holdings Ltd., class A, 10 cents, an increase of 2Vz cents, Dec. 28, record Dec. 14. CHICAGO (AP) Wheat, corn and soybean futures declined to limits on the Board of Trade Tuesday, but the early losses were heavily trimmed in the closing minutes during a sharp buying rally accompanied by short- covering. There appeared to be no out- standing reason for the late buying except that some side- line observers had noted that farm commodity futures might be approaching an area of over-sold conditions. Wheat and soybean futures were down 20 cents at one time and corn 10 cents a bushel. Oats were about three cents lower, soybean meal a ton and soybean oil about 30 points. The selling was largely a carryover of activity from the previous session. It marked the third straight limit decline in wheat and the second on soybeans and corn. Prices in these pits then hovered from a limit decline to halfway back through most of the session. A rally set in the last half hour and, as the new buying advanced prices, the early shorts were forced to cover. The loss in soybeans and wheat was about halved but corn showed a gain of two cents, and oats were up around as much. At the close, wheat was down about 10 cents, Dec. 4.21; corn some 2 cents higher, Dec. 2.36Vz; oats up around 2 cents, Dec. and soybeans around 10 lower, Dec. 5.32. Grain quotations Tuesday: Wheat: Dec. 4.21; Mar 4.04; May 3.81; Jul 3.42; Sep 3.41. Corn: Mar 3.41; May 2.44; Jul 2.43: Sep 2.40; Dec 2.19; Mar 2.25. Oats: Dec Mar 1.21Vz; May 1.24V4; Jul 1.22V4. 220% 217% 226% 226 229 225 151 216% 213 210 207 212 Vz 219 Vz 161 160 151% 133 226 219% 217 220 225 221% 224% 224 Oats Oct Dec 162 May 152 Jly Barley v Oct Dec May Jiy Rye Oct Dec May Jiy Calgary livestock CALGARY (CP) Receipts to 11 a.m. Wednes- day from the Calgary public stockyards totalled head, mostly slaughter cattle and stock calves. Trade was active with a broader demand for all classes. Slaughter steers sold steady to the weeks decline with over-finished steers selling under pressure. Heifers were fully steady to 50 cents higher with spot sales to 43.40. Cows were mostly lower grade sell- ing steady. Bulls sold steady. Steers Al and 2 44.50-46. Heifers Al and 2 41-42.60. Cows Dl and 2 32-33, D3 30.50- 31.50, D4 25-30. Good bulls 29- 41.70. Replacement cattle were mostly short-keep steers in the pound weight range selling steady. There were insufficient stock calves sold early to es- tablish quotations. Good feeder steers more than 850 pounds 44-49.50. Hogs f.o.b. Calgary to 11 a.m. average base price 53.40. Lambs sold higher Tues- day with good lambs selling for 29-31. Hog prices EDMONTON (CP) Average prices to 11 a.m. Wednesday provided by the Alberta Hog Producers Marketing Board with Tues- day average in brackets: Edmonton: 53.35 Red Deer: 53.40 Calgary: 53.40 Lethbridge: No sales Fort Macleod: No sales Total hogs sold 337, Tuesday average 54.49. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds at noon Wednesday was up 4-25 at 9-10. Pound sterling was up 89-100 at 43 13-20. In New York, the Canadian dollar was down 4-25 at 10. Pound sterling was up at 9-10. World wheat crop may be enough for food needs WASHINGTON (AP) A dramatically improved harvest in the Soviet Union in- dicates that the 1973 world wheat crop may be more than enough to meet international food needs through mid-1974, the United States agriculture department said Monday. The department's foreign agricultural service said the 1973 Soviet wheat crop, rebounding sharply from last year's neardisaster, is ex- pected to be a record 100 million tons, up five million from indications two months ago. That would put world wheat output in 1973-74 at a record 354.8 million tons, about 5.6 million less than the an- ticipated demand by all countries. But a spokesman said the department is in the process of revising further the Soviet wheat estimate, possibly to 110 million tons or more. That would push the 1973-74 wheat crop slightly above prospec- tive requirements. Officials said the revision, expected to be issued soon, will be based in part on an an- nouncement in Moscow Fri- day that the 1973 grain harvest exceeded expectations. This is an aerial of Fort George, Que., 650 miles north of Montreal on James Bay. The set- tlement, situated on Gov- ernor's Island in the mouth of Le Grande River, and its people will be among the first and most heavily affected by the taming of the river as part of the James Bay hydro- electric project. Guaranteed wage formula big problem VANCOUVER (CP) The president of the Ford Motor Co. of Canada Ltd. said Mon- day a guaranteed annual wage formula to give laid off auto industry workers 95 per cent of their regular wages has created unforeseen problems. Roy F. Bennett told a board of trade luncheon "the unions now are pressing for reverse seniority in layoffs." He said older workers are demanding that if anyone is to be paid for not working, the privilege belongs to those with the longest service. "It's humorous, but also it's tragic. It shows the increasing trend in the country not to work." Mr. Bennett also said car prices will rise but maintenance cost will be sharply reduced for 1974 models, and that 1973 cars have required 18 per cent less maintenance than 1970 models. JOSEPH E. SEAGRAM AND SONS LTD. APPOINTMENT JACK L. SAWCHUK Mr Harold D. Baitye, Western Canada Sales Manager of Joseph E. Seagram and Sons Limited, announces the appointment of Jack L. Sawchuk as Regional Manager for Albertd and Sask- atchewan. Mr. Sawchuk has been associated with the Seagram organization since 1970 and his new appoint ment reflects his progress with the Company He will make his hpadquarters in Calgary, where he will direct the ;ales operations of the Company Advt Ft. BUILDING For LEASE Excellent location with off street parking for 15 cars Owner will remodel to tenants requirements lease to be negotiated as to amount and time Early Occupancy Contact: FRED WEATHERUP or LAURENCE LENNON PHONE 329-4444 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, CP Hotels H ;