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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 31, 1974, Lethbridge, Alberta Thursday, October 31, THI LETHtRIDQE HERALD 31 Commission rate increase for brokers sought TORONTO (CP) Canada's stock and bond in- dustry is reeling from huge losses and rapidly losing com- petent personnel, the Toronto Big drop in Ford earnings DETROIT (AP) Ford Motor Company's third-quarter earnings were million, down 51 per cent from the same 1973 period, despite record sales for the quarter, the firm said Wednesday. Earnings were 51 cents 'a share, down from 98 cents a share in the 1973 period. Ford President Lee Lacocca blamed the earnings drop on labor disruptions and compo- nent shortages that decreased production from scheduled levels. For the first nine months of 1973, income was million, or a common share, compared with million or a share in the corresponding 1973 period. Worldwide sales were billion, up from billion in 1973. Unit sales of cars and trucks in the United States were down seven per cent at in the third quarter, and down 16 per cent at 1.81 million, for the first nine months. Meanwhile despite a slump in earnings in its American parent com: pany, Ford Canada Ltd. reports continued high sales and earnings for 1974. In a report to shareholders, Ford of Canada says con solidated net income for the first nine months was million or a share, up from million and in the corresponding period of 1973. Consolidated sales in- creased to billion from billion a year earlier. bond issue MONTREAL (CP) Aluminum Company of Canada Ltd. has announced an issue in Canada of million of 20-year sinking fund deben- tures. The debentures, dated Nov. 15, will be issued at par, carry an interest rate of 10% per cent and will mature Nov. 15, 1994, the company said in a statement The debentures will be issued through a group of investment dealers headed by I A. E. Ames and Company Ltd. and Wood Gundy Ltd. Aluminum Company of Can-" ada is the principal subsidiary of Alcan Aluminum Ltd. Stock Exchange (TSE) said Wednesday in a brief to the Ontario Securities Commis- sion The exchange is seeking Commission approval for a 10- percent increase in com- missions for orders valued at more than which would raise revenue for TSE brokers by an estimated seven per cent. Presenting the brief to a commission hearing, TSE President J. R. Kimber said brokers' costs are rising rapidly but trading activity has not improved. "A result of existing condi- tions is that, in a financial sense, the industry is losing its capability to perform its necessary role in the capital market." IN MEMORIAMS MORDEN In loving memory of a beloved husband and father, William Bruce Morden, who passed away Oc- tober 31, 1972. So many things have happened since you were call" away. So many thoughts to share with you, had you been left to stay. We cannot bring the old days back, when we were all together, But secret tears and loving thoughts will be with us forever. loved and ever remembered by Nellie, Byron and family and Faye and family. 4733 KOVACS In loving .memory of a dear .husband, father and grandfather Louis Kovacs who passed away October 31, 1973. One lonely year has passed away since our great sorrow fell, The shock which we received that day we still remember well. Our hearts ache with sadness, our secret tears still flow. For what it meant to lose you, no one will ever know. When we are sad and lonely and everything goes wrong, We seem to hear you whisper, Cheer up, and carry on. remembered and sadly missed by wife Irene, daughter Irene and family. 4731 CARD OF THANKS WHALEN The family of the late Leo Whalen wish to extend sincere thanks to Rev. Father D. O'Dwyer, friends and relatives for kindnesses during our recent bereavement. Thanks to the doctors and staff at the Taber Hospital, the CWL, and all those who sent cards, flowers and food. Your thoughtfulness was deeply appreciated and will be remembered always. Whalen Families 4730 Appointment MR. 0. O. TRADEWELL Arnold J. Arena, P.Eng., Vice President and general manager of Leth- bridge Concrete Products Ltd. is pleased to an- nounce the appointment of O. (Doug) 0. Tradewt as sales manager of the company. Mr. Tradewefl has been associated with the sale and promotion of concrete and concrete products throughout Al- berta during the past twelve years. Appointment The directors of Leth- bridge Concrete Pro- ducts Ltd. are pleased to announce Che appoint- ment of Arnold J. Arens, P. vice president and general manager of the Company. Mr. Arens has had extensive pertence in the concrete and consulting fieMs over the past twenty five years. The Herald- Business Market lower in light trade Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERT" LOOTED WESTERN OILS AND MINES Afton Mines 3-25 Albany Oil -25 Alta East Gas 5.00 Alminex 5.00 Asamera 8.37ft Ashland Oil 6.37% BP Canada 10.75 Brenda Mines 4.15 Cda South 2.65 Cdn Ex Gas 2.25 Cdn Homestead 3.15 Cdn Ind Gas Oil 5.37ft Cdn Long Is -14 Cdn Super 32.62ft Chiettan Dev 5.00 Dome Pete 21.75 Dynasty 7.62ft Nufort Reliance .14 Giant Mascot .60 Gibraltar Mines 5.25 Granisle 13.00 Gt Cdn OH S 5.50 Lochiel Ex 1.26 Lytton Min 1.33 North Cdn Oil 3.65 NumacOII 11.87ft Pancdn Pete 8.00 Pan Ocean 8.62ft Petrol 1.15 Paloma 1.00 Place Gas .22ft Ponder .48 Ranger Oil 18.00 Scurry Rain 17.50 Seitoens 7.25 Spooner -21 Total Pete 5.87 Ulster Pete .69 United Canso 8.25 West Pete 3.05 West Decalta 4.10 MISCELLANEOUS INDUSTRIALS Acres Ltd 5.62ft Aquitaine 15.75 BC Sugar C Pfd 11.00 Block Bros 3.30 Canbra Foods 2.50 Cdn Pac Inv A Pfd 27.50 .Cdn Pacific Inv 14.00 Carting O'Keefe A Pfd 16.37ft Carting O'Keefe B Pfd 19.25 Comrn Cap Corp 1.50 Crestbrook Ind 2 80 Crowsnest Ind 13.50 Falcon Copper 8.25 F M Trust Co 3.50 Genstar 14.62ft Home Oil A 24.00 Home Oil B 21.25 Hud Bay Co 1287ft Hud Bay Oil 24.50 Hud Bay Oil A Pfd 27.00 Hugh Russell 57.00 Husky Oil 15.12ft Husky Oil B Pfd 32.00 Husky Oil E War 4.60 Interprov Pipe War 2.65 Interprov Steel Pipe 1355 Kaiser Res' 4.55 Kaiser Res War 1.8B LoWaw Co C Pfd 2230 Magnasonics 1.65 Pacific Pete 18.87ft Pac West Air Pe-Ben Oilfield Serv Royal Trust Sandwell Tetedyne Traders Grp Pfd Trimac Westfield Mln Weston A Pfd Whltspass Yukon PIPELINE STOCKS Alta Gas Trie A Ana Gas Trk Pfd Alta Nat Gas Gaz Metro Gaz Metro A Ptd Inland Nat Gas N C Gas N C Gas B Pfd Trans-Cos Pipe Trans-Cda A Pfd Trans-Cda B Pfd Trans-Cda War WC Trans WC Trans War CALGARY Acroll Barons Oil N. Continental Western Warner VANCOUVER MINES Bathurst Norsemines Cima Resources Dankoe Davenport Lomex Northair Mines Primer Pyramid Silver Standard Valley INDUSTRIALS Key Industries Wardair OILS August Petroleum Plains Pete Stampede Infl Res MUTUAL FUNDS All Ccin Cun.pc.unJ All Cdn Dividend All Cdn Ventures Amer Growth Fund A.G.F. Special Cdn Investment Fund Eaton Commonwealth Eaton Leverage Eaton Inf! Venture Corp Investors Corp Invest Stock Fund Dreyfus Fund U.S. Grouped In Shares Growth Equity Invest Growth Fund Investors Mutual Mutual Accum Nat Resources N.W. Cdn N.W. Growth Principal Growth Royfund Templeton Growth United Accumulative Universal Savings Vanguard 12.62ft 2.00 20.25 5.00 4.40 10.12ft 3.50 .56 45.50 61.00 15.75 5.12ft 49.50 11.50 9.50 18.25 9.00 52.75 27.50 .88 18.25 1.85 .30 .04 .01ft .25 .78 35 2.0S ,42 5.10 1.68 .05 .08 .90 Toronto mines, industrials (Supplied by Richi MINES Acme Advocate Asb. Akaltcho Bralome Broulan Bethlehem Bovis Brunswick Can. NW Lend Canada Tung. Central Pat Chimo Con west Cons. Rambler Coin Lake Cochenour Craigmont Diekenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartc East Sullivan Falconbridge Frobex First MariUmes Giant Y.K. Granduc Hollinger A Hudson Bay A Hydra Ex- Iron Bay ISO Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Silver Madsen R.L MalarUc G.F. Martin McNaety Madntyre Meta Mklrim Intern Mogul NuWost Homes Nw AtnonB New Calumet Northgate Pine Point Placer Dev. Pax Exp. Quebec Man Rayrock Rio Aigoffi Roman Corp. Stierrttt Gordon Steep Rock SunnSngdaks Tek Corp. A Ttxfnont Unwed Canso Western Mnes WH Copper Mttws Zenmac INDUSTRIALS AWKtf Alcan ADgaom Steel AJcotnd Bums Forest Sugar Valley Ind Power Foods Cellulose O'Keefe Credit Ind Marconi Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Motors takes Paper GuNOH .60 Hawker Sid WttHcor A Erie Oil A Nickel Grp A 2940 Piped Corp Cent 140 Corp PriceCo 10.75 143 Seers Stew Can A A 825 iWtn Cwfttfv OH Mta f.7S 11.50 19.87% 14.62% 9.12% 18.75 2.50 3.95 233 4SS 150 8.00 18.12% 3.05 12.00 9.87 25.75 13.12% 6.12% 9.75 26.75 1025 3150 10.12% BfSSCWl A BCTtf 2347% 2425 1147% 525 41.12% 11.50 4625 BANKS Montreal Nova Scons Royal TorOom 9.12% 17.87% 8JOO 8JOO 3JOO 525 2025 2025 19.12% 23JOO 1225 2837% 3425 York !l Amr. T ft T BsthSkMI ChiysHer Comsat GenerM Motors OOff KermOoppvr Montgomery Seers Exxon Texas Co Wta Corporation 4650 1625 2847% 10.12% 2850 10850 34.12% 1747% 3247% 5450 70.12% 27JS 2347% 1042% 10.75 SMI 4247% Gen Tel Ben 1940 TORONTO AVERAGES 20 todmftUls 16846 down .14 20 GoUs 45043 down 140 10 Base 6747 down 20 IS 14955 129 Votome NEW YORK AVERAGES Two-day TSE prices gain ended TORONTO (CP) The To- ronto stock market pulled back today after two strong gaining sessions. Prices were moderately lower in light mid- morning trading. The industrial index, wide- ly-based indicator of market trend, was off .47 to 165.73. The index had gained about four points during the two previous days. The gold index lost .54 to 452.19 and base metals .09 to 67.18. Western oils gained .30 to 148.59. Peoples Department Stores Market trends .07 1.50 .16 .09 .52 4.92 6.C? 2.20 3.80 1.fcr 3.99 11.18 225 4.32 5.06 3.74 8.41 2.50 5.10 9.37 4.59 5.00 3.47 4.1S 3.51 3.21 5.00 6.05 3.49 6.63 3.84 32.50 38.00 20.00 723 1450 2150 2450 525 3350 1850 2550 13.00 4.45 37.75 22.75 27.12% 2247% 2325 13.87% 550 10.12% 1750 235 950 7.00 2.45 4JK 10.00 1425 23.00 39.00 1525 1450 7.12% 9.37% 3.40 850 MONTREAL (CP) Prices lost ground in light trading on the Montreal Stock Exchange today. While rose to 103.54, In- dustrials (ell .51 to 174.90, the com- posite .43 to 1W.38, utilities .27 ta 121.55 and banks .14 to 221.87. Interprovincial Pipe Line fell to 114, Alcan to Noranda Mines class "A" Vt to imperial Oil cUes J27V4, Bank of Montreal Vi to and Canadian Javelin to tt'A. Peoples Department Stores rose 2tt to Canadian Industries Ltd. 1 to and Distillers Corp.-Seagrams to Among speculative isssues, North American Asbestos fell two cents to 40 cents after trading shares. VANCOUVER (CP) Prices are mixed in light trading on the Van- couver Stock Exchange today. First- hour volume, was shares. In the industrials, Bank of British Columbia trust was unchanged at on shares. In the mines, Balfour was up .03 at .25 on shares. In the oils, Davenport was un- cbanged at .42 on shares Prices were up Wednesday in light trading. Total volume was 938499 shares. the industrials, Canterra was un- changed at .20 on shares. Trans- Canada was unchanged at on Canadian Pacific was unchanged at one half cent on and Comat was up .IS at on Block Bros, was unchanged and Ksiw warrants was unchanged at In the mines, Grandora was up .04 at .48 on Consolidated Beaumont was down .03 at .34 on Gladiator was down .02 at .12 on and Colby was up .10 at on Makaoo Development was up C! at .14 and Anglo Bomarc was up .05 at 50. In the oils, Seneca Development was up .05 at .80 on shares. Biscn Petroleum was up .10 at on Plains Petroleum was unchanged at .09 on and Davenport was unchang- ed at .42 on Stampede was down .02 at .51 and Freehold was unchanged at .50. Total volume on the curb exchange was shares. Envoy was un- changed at .12 on Mark V was unchanged at .95 on and Mundee Mines was up .14 at .39 on Rain- bow was up .06 at on Thor Exploration was up .08 at and Olympian was up .02 at .32 NEW YORK (AP) The stock market ran into some resistance from profit taking today but still added a lit- tle to its recent gains. The noon Dow Jones average of 30 in- dustrials was up 2.42 at 675.45, and gainers led losers by 7-to-4 in continued active trading on the New York Stock was up 2% to tfV4 and Slater Walker was unchanged at Trading resumed in the two stocks at the open following news that Marks and Spencer plans to buy part of Slater- Walker's interest in Peoples and to make an offer to minor- ity shareholders in Peoples for at least half their shares. Incc A fell to Slater Steel to Imperial Oil A V4 to Alcan to and Interprovincial Pipe Line Vt to S14. Reichhold was upttto Canadian Industries to Maclaren B J4 to and Dome Pete to Camflo lost to Pine Point V4 to I31V4 and Ego five cents to 74 cents, roman gain- ed to Peyto Oils was up 15 cents to and Siebens to Total Pete dropped to Chicago markets CHICAGO (AP) Meat commodity futures in the United States were heavily liquidated Wednesday, but grain futures improved. There were limit declines in pork bellies on the Chicago Mercantile Ex- change, and live bog and cattle futures. Shell eggs were down nearly the limit. On the Chicago Board of Trade wheat futures rallied in the closing minutes to advance up to 12 cents a bushel Corn futures were up five cents, but oats lost nearly two cents. Soybeans were mixed, while soybean oil lost up to 100 points and meal lost about a ton Iced broilers fell back about Vt half cent a pound, largely on selling influenced by the weakness of red meat futures At the close on the CBOT, soybeans were eight cents a bushel lower to 10 higher Nov. 7.82; Chicago wheat was four to 12 higher. Dec. 5.25; Gulf wheat not traded; corn to five higher, Dec. 3.75 and oats to 1% lower. Dec. 1.83. Silver futures tumbled to limits of 20 cents an ounce for the second straight day. Cocoa futures fell 200 points while coffee and orange juice eased lesser amounts. Cotton futures gained about points and copper and world sugar rose 100 points Grain quotations Wednesday: Wheat: Dec 5.25; Mar 5.44; May 5.43; Jul 4.99; Sep 5.03; Dec 5.11 Cora: Dec 3 75; Mar 3 May Jul 3.93, Sep 3.84; Dec Mar Oats- Dec 1 83; Mar 187; May Winnipeg grain Among Canadian issues on the New York Stock Exchange, Dome Mines was down to 154, Alcan to 123% and Canadian Pacific H to Livestock Calgary CALGARY (CP) Thursday receipts to 11 ajn. at the Calgary public stockyards totalled about, head, practically all cows and slaughter steers with a few stacker cattle. Trade active on slaughter steers. Slaughter steers selling stronger prices. One to the heavy fall run on all classes of trade was indifferent, resulting in prices. Steers Al-2 48-50.10; A3 45-48; A4 43 45. Heifers Al-2 40.5042.50; A3 Cows Dl-2 30.50-22.50; 0316-19; D412- 16. Good bulls 21-25. Light run of stock steer and heifei calves idling at about stearfv orices, condition considered. Steer calves 401- 575 pounds 3043; 300400 pomwte Heifer calves 300400 pounds 550 ponds 20-28. Hogs 48 JO base price. Beef futures WINNIPEG (CP) Live leef futures dose Wednesday. No. 48.00A; Jan. 48.70A; Mar. -48.15A. Feed prices WINNIPEG (CP) Wheat Beard domestic feed grain prices Wednesday: 3 CW red spring wheat No. 1 feed barley No.! feed oats LMK. Hog prices EDMONTON (CP) Prices to 11 a.m. Thursday provided by the Alberta Hog Producers Marketing Board, Wednesday's prices in brackets. Edmonton: 48.30 Calgary: 48.30 (18.72) Lethbridge. Nil Fort Macleod: Nil Hogs sold to 11 a.rh. 533. Hogs sold Wednesday Average 48.56. Sows average 32.15. Metals LONDON (AP) Wednesday's clos- ing metals in pound starling per metric ton; silver in pence per troy ounce. Copper: Spat 5B5-5OT; futures 615416 Tin: Spot futures Lead: Spot 227.5-228.25; futures 218- 218.50 Zinc: Spot 345446; futures 343444. Silver: Spot 212.2-2128; 3 months 219.2415.5 Currencies MONTREAL (CP) Thursday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: France franc .2130 Germany mark .3880 Japan yen .003335 Mexico peso .0805 Switzerland franc .3520 WINNIPEG (CP) Futures prices settled into lackluster positions by mid-session today on the Winnipeg Commodity Exchange, with most hovering near Tuesday's closing prices. Activity was generally light, with the exception of rye. Tuesday's volume of trade was bushels of feed wheat, of oats, of barley, of rye, of flax and of rapeseed For the second day in a row, there was no volume in corn. Mid-session prices: Thunder Bay rapeseed. Oct. un- changed 9.14A; Nov. unchanged 9.14A; Dec. unchanged 9.00A; May two lower 8.84B. Vancouver rapeseed: Nov. one higher 9.25A, Jan. three lower Mar 3% lower 8.94V4A; June two lower 8.78A. Flax: Oct. one lower 11.61A; Nov. one lower 11.61A; Dec. one lower 11.46A; May one lower 11.39A. Feed wheat: Oct. five lower 3 81B; Dec. lower 3.63A; May one lower 3 64A; July not open. Corn: Mar. four higher 4.15B; May six higher 4.20B; Dec. and July not open. Barley: Oct. two higher 2.9BA; Dec. 1V< higher 2.9BA; May two higher 3.12A; July not open. Oats: Oct. to lower 1.93UA: Dec. lower 1.90V4A; May unchanged 1.94A; July not open. Rye: Oct. 3% lower Dec. Vt tower 3.21 May higher July IVt higher 3.4MB. Gold prices LONDON (AP) Wednesday's clos- ing fold prices in U.S. dollars an ounce- London Paris 173.07 Frankfurt -167.96 Zurich 170.00 Hong Kong Closed Beirut a kilo. Dollar value MONTREAL (CP) VS. dollar in terms Canadian funds at noon today was up 1-50 at S0.98 2340. Pound sterl- ing was up 11-100 at In New York, the Canadi.- a dollar was down 1-50 at 11.01 Pound sterling was up 340 at 33 3-5. JLj OC Systems 10Q3 4th Avenue South, Lethbrldge Telephone 329-4426 rocessng r WFD LIKE YOU TO JOIN US H OUR BIRTHDAY CELEBRATIONS COME AND CELEBRATE WITH US! Tomorrow FrL, Nov. 1st p.m. 0000 I III I 20 20 153434P 45 15 UVHMs 68.41 wp31 65 Stacks 21452 3p 45 Volume We think that being in business for 5 years is worth celebrating and we know you'll agree. So why not come and join us? Just leave us your business card and you can help your- self to birthday cake and refreshments. Browse around our Display room and let us get to know about you and your business. We also have a new we have expanded our operation to take care of all your advertising needs. Come and spend this Friday afternoon with us! We're looking forward to meeting you! 433 B HOLIDAY VILLAGE LETHBR1DGE, 329-3095 ;