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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 8, 1970, Lethbridge, Alberta Fu.idny, J.plnmbtr 8, 1970 THI LETHBRIDG! HERALD 19 Market Slumps At Mid-Morning TORONTO (CP) The To- ronto stock market was down sharply in mid-morning trading today. On index, industrials dropped .79 to 161.38 and western oils 3.06 to 178.52. Golds were up .26 to 159.34 and base metals were unchanged at 95.82. Volume by 11 a.m. was shares, down from at the same time Friday. Pacific Pete fell 1% to Home A to Shell to Inco to Noranda to Aquitaine to and Rio Algom to Pioneer Electric was up to Readers Digest 70 cents to Nabors Drilling to Gulf Oil to and Endako to Computer problems at the ex- change delayed opening stock prices and made more complete market details impossible. MONTREAL (CP) Prices on the Montreal stock market slumped sharply lower in heavy morning trading today. Highlighting losses among banks Commerce off to Royal to and Montreal to Pacific Petroleum slipped 1 to CPE to Inco to Noranda to and Husky Oil to Brascan declined to Walker-Gooderham 3A to and Dominion Textile Yt to Readers Digest rose 1 to Gulf Oil to Algoma Steel to and Kaiser Resources to On index, banks lost 2.22 to 175.45, the composite .96 to 160.45, utilities .93 to 133.42, in- dustrials .78 to 164.97 and pa- pers .23 to 89.07. A total of shares changed hands by 11 a.m. NEW YORK (AP) Stock market prices firmed early this afternoon but remained moder- ately lower. Trading was active At noon the Dow Jones aver- age if 30 industrials was off 3.97 at 767.18. Earlier it had been off nearly 7 points. The Associated Press 60-stock average fell 1.2 to 252.8 at noon. Industrials were off 2.6, rails off 0.2 aJid utilities off 0.6. Stocks were generally lower in all categories except for chemicals and electronics, which were higher. Among Canadians Dome was up 1% points at Inco was off at Canadian Pacific at and Alcan at On the American exchange Javelin and Scurry were off at and respectively, and Brascan Vs at Mar- coni was up Vs at and Jupi- ter at NEW YORK STOCKS Supplied by Richardson. Securities of Canada Amr T and T Anaconda Bin Steel Chrysler Comsat Oupont General Motors Gulf Int Harvester Kenn Copper 47.75 Montgomery Ward 26.75 20 Golds I62.4B up 3.40 2150 Sears 66.00 10 Base Met 96.14 up .32 2300 Std Oil of NJ. 66.25 15 W Oils 108.78 off .80 H6371A Volume NEW YORK AVERAGES Texas Gulf 43.00 Texas Co 124.75 Wootworth Westinghouse Elec 68.50 27.00 U.S. Steel 31-75 25.00 TORONTO AVERAGES 39.00 20 Indust U1.68 off .49 34.25 30 Indust 769.65'Off 1.50 20 Rails 136.68 off .77 15 Utilities 109.83 off .42 65 Stocks Off .75 Volume OFFICE SPACE 1500 Sq. Ft. Available Immediately Attractively finished and in an excellent location. May be rented furnished or unfurnished. Reply To Box 59, Tha lethbridge Herald. JOIN NAVY LEAGUE CADETS BOYS 11 TO 13 YEARS WEDNESDAYS 7 to 9 p.m. RCSC 'CHINOOK' 17th 51. and 10th Avc. S. an No. 3 Bus Roule NAVAl TYPE TRAINING DISCIPLINE CITIZENSHIP OPENING FOR 50 BOYS MISCELLANEOUS QUOTATIONS Vancouver, Calgary, Montreal (Supplied by Doherty, Itoadhouse and McCuaig) LAST BID OR SALE a.m. quotes) Quotes) a.m. WESTERN OILS Almlnex Asomera Banff B. P. Can South Cdn EXP Gai Cdn Grldoll Cdn Home Cdn Ind Gal Cdn Long Is Cdn Super Cent Del Rto Chleftan Dome Dynam French Gt Plains Mill City New Con! North Cdn Oil Nurrtac Perino Petrol Pinnacle Placa Gas Ponder Ranger Scurry Rain Spooner 1. West Decal 6. MISCELLANEOUS INDUSTRIALS 5.50 18.50 12.00 4.40 9.50 10.50 Husky Oil B Husky Oil War. tnt Pro Pipe Int Utll Pfd Inter Steel Jeff Luke Joutcl Kaiser Res Kam Kotlfl Lake Ont Pt .70 Mentor Newconex 11.25 Pac Ptoe Rank Organ Shell !nv Shell Inv Pfd Shell Inv Wts sicks Rainier West Cdn Sd While and Yuk CALGARY Acroll Anac Pete Barons Oil North Conf Plains Pete West Warner Madison 8.15 1.53 7.05 25.75 1.95 Md 7.50 7.85 99 1.41 7.04 67 11.50 51.62'A Qulnalta 37.00 Corp Invest S F 4.43 4.9 6.35 Dreyfus F U.S. 10.39 11.3 12.12'A Gr Equity 5.61 6.1 S9.75 Gr In Shares 3.! Invest Gr 9.53 10.4 9.75 Invest Mutual 4.BO 52 1.19 Mutual Ac P 4.63 5.0 12.37'A Mutual Gr F 3.85 4.3 177 Not Res 6.85 7.4 N W Fin 3.53 3.9 N W Gr 4.25 4.6 Principal Gr 3.55 3.9 Rqyfund ___ 4.8! 4.' United Ac 4.20' 4.6 Universal Sav 6.45 7.0 VANCOUVER Anuk......53 Arctic Miring .24 Alias Explor Beth Copper 15.50 Bornlte Ridge 16 Block Bros 4.05 Brenda 10.25 B.C. Sugar 75.25 Capt Inter 3.35 .29 Churchill Copper 2.70 .40 Crestbrook For I 6.25 ,35 Doly Varden 2.00 .55 6.00 27.50 14.00 30.35 28.75 12.75 4.00 2.25 17.00 .92 Afco Indus Aquafalne Brit Nfld Cdri Brew A Cdn Brew B Cdn Hyd Car Cdn Pac 'Inv CPR Pfd Crows Nest [nd Cygnus A Cygnus B Gt Cdn OH Gt Cdn Oil Sd Home Oil A Home Oil B Home and Pit Hud Bay Co Hud Bay Oil Hud Bay Oil Hugh Rus Pfd Husky Oil 10.50 23.50 4.70 29.00 3S.OO 15.75 .50 Rexdale 74 Dynasty 7.10 PIPELINE STOCKS Endako 13.12V Alia Gas Tr L A 46.75 Fort Reliance .60 Alta Gas Tr L Pfd 70.00 Giant Mascot 3.10 Alta Gas (Nat) 19.75 Granisle 13.50 Inland Nat Gas Key Indust 31 N and C 13.25 Hy's 3.00 N and C B Pfd 27.75 Interior Brew 4.35 Gaz Metro d.OO Jericho .n Tr Cdn Pipe 29.00 Kamloops Copper .12 Tr Cdn P PFd A 57.50 Lornex a.85 8.50 Tr Cdn P War 9.00 Lylton Minerals 2.54 50.00 Westccast Tr '20.00 Madrona 35 Western Pacific-.. 4.90 New Cronln .08 6.62W MUTUAL FUNDS New Imp Mines 2.10 4.10 AGF Special 2.12 Primer 16 100.00 All Cdn Com 6.43 7.03 Pyramid 30 All Cdn DIvid 7J4 8.13 Silver Standard 1.65 21.25 All Cdn Vent 3.21 3.51 T C Explor 47 Amr Gr F 4.32 4.74 Texmont 51 Cdn Invest F 4.13 4.58 65 41.00 Col Mutual 5-25 5.77 Western Mines 4.00 58.00 Cmnw Inter 11.15 12.22 Westcoast Res .20 20.00 Cmnw Lev 2.B6 3.13 Western Explor .25 13.12W Corp Invest 4.99 5.44 Utica 65 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities of Canada LAST BID OR SALE a.m. Ouotes) a.m. Quotes) a.m. Quotes) INDUSTRIALS Molsons B Abltlbi...... 7.75 North, Cent Alcan....... 22.50 Pemblna Pp Algoma Steel 14.00 Power Corp Atco Price Co Allan Sugar Bell Tel..... Brazil Trac B.C. Tel..... Burns B.C. Forest i.e. Sugar CAE Ind Cdn Brew Chemcel! Col Ca! Power Coron Credit CWN Gas Indust Canada S S Marconi Cdn Vickers Chrysler CPR........ linco Cons Bath Cons Gas Disf Sea Dom Bridge itar Dom Textile Dom Stores Dome Pete Fam Play Fd of Amer Gt i 6.50 Roihmans Sf Law Corp 14.50 Shell CDA 66.00 Simpsons 8.75 Simp Sears Sleel of Can Selkirk A Texaco Traders Gp A Trans Mtn Pp Trans Can Pp Union Gas Union Oil Versafi'e Mfg Westeel..... Union Car Weston's B Woodward's A 24.00 West Cdn Sd'. 57.00 Zenith Elec BANKS Can Imperial Montreal '6.37Vz Nova Scotia Royal...... MINES Acme...... Advocate Asb. Akaitcho..... Area Mines 74.00 East Sullivan 13.55 Falconbridge 21.00 Frobex...... First 8.50 Giant Y.K..... 24.75 15.00 4.45 5.50 24.00 1.05 10.00 10.50 23.25 3.25 20.75 11.50 16.75 11.50 20.50 30.00 15.50 21.00 22.87V 10.35 24.00 9.00 Granduc Headway R.L. Hollinger Hud. Bay M-S Hydra Ex..... Highland Bell iron Bay ho 13.50 11.75 Motors it Lakes Pap Gulf OH Cda Hawker Sid Huron, Erie Hiram Walk t Imperial Oil Imperial Tob inf Nickel Int Pipe..... Inv Gp A 'nr Utilities Indus! Accept -aurentide 27.50. Choice heifers 24.75 to 25.40; good 24 to 24.75. Medium cows 19 to 20.50; canners and cutters 15.50 to 18.50. Good heavy feeder steers over 900 Ibs. 28 to 28.50; me- dium 26 to 27.50. Good feeder heifers 25 to 27. Calgary Livestock CALGARY (CP) On offer to 11 a.m., about 725 head; mostly slaughter steers and heifers. Trade was active. Slaughter steers and heifers were steady with last week's close with cows and bulls scarce but steady. Choice slaughter steers 28 to 28.90, good 27 to 28, medium 26 to 27. Choice heifers'25.25 to 26, good 24.25 to 25, medium 23.25 to 24. Good cows 21.25 to 22, medium 20 to 21, canners and cutters 17.50 to 19.75. Good bulls 23.50 to '25.30. Replacement cattle were scarce with those offered most- ly heavy steers selling at steady prices. Good feeder Grain Prices Winnipeg Grain Prices WINNIPEG (CP) Aggres- sive buying continued1 through the close of the Winnipeg Grain Exchange today, with feed grains gaining strength. Oats and barley were strong all day on heavy exporter, commission house and do- mestic shipper buying. Rye had a heavy exporter nquiry and some commission house buying. Volume of trade Friday was bushels of flax, of rye and of rape- seed. Prices for Class Two wheat 'or export to countries outside IGA: I Nor 2 3 4 1 Durum 1.67; 2 1.64; 3 l.SlVs; 4 BA prices: 1 Nor 1.73Va; 2 3 l.GSVa; 4 1 Durum 1.67; 2 1.64; 3 4 1.50 High Low Close Flax Oct 272% 271% 27114 Nov 263% Dec 257% 256% 256% May 266 265% 265% Rapesccd Vancouver S'OV 250% 249 245% 249 Mar 247% 245% 247% May 247 245 246% Rapcsccd Thunder Bay 252% 249% 252% 243 239% 239% 245% 244% 244% Oct )ec ,pr Oats )ct fay ly Barley Oct Dec May Jly Rye Oct Dec May Jly 89% 88% 90% 89% 88% 90% 90% 125% 122% 125 124Vi 122 124% 127% 125V4 -----128% 111% 110 110% 10974 108-% 109% 115% 113% 113% -----111% steers more than 750 pounds 27.50 to 29. No stock or slaugh- ter calves offered. "Hogs base price 26.20. Portland Livestock PORTLAND (AP) Cattle and calves compared last week and a year ago. Compared close of last week slaughter cows 50 to 75, other slaughter cattle mostly "steady, all calves closed 1 to 2 lower, other feeders largely steady; slaughter steers good 900 to Ibs. 24 to 28; slaughter heifers small lot choice 470 Ibs. 27.90. 'Slaughter cows commercial 19 to 21.25, utility 18 to 21.25, cutter 17 to 20.50, slaughter bulls most commercial and good 23.50 to 27.50; vealers good and choice 32 to 36.50. Slaughter calves good and choice 300 to 500 Ibs, 27 to 31.50; feeder calves, most choice 350 to 500 Ibs. 31 to 34.50, few lots good and choice bull calves 23.85 to 30; steers, high-good and choice 650 to Ibs. 25.50 to 29, good 600 to 1.260 Ibs. 23.50 to 27; heifer calves good 25 to 26; heifers, several lots high-good and choice 590 to 680 Ibs. 25.75 to 26.90. When a producer lost control of his product, bis market and his price to a marketing board ho was no longer an entrepre- neur but a servant of board. No one could in that sphere successfully. Coal Is Back In Business EDMONTON (CP) Al- berta coal producers, experi- encing an average annual growth of about 30 per cent, are convinced there's no fuel like an old fuel. With the advent of cheaper energy in the early 1950s, coal production fell off, but recently demand has been growing ra- pidly. With Alberta's abundant reserves the province has be- come a major source. "Alberta mines should pro- duce just under six million tons this says Philip Nelson, the province's mines director. Last year production totalled 4.4 million tods valued at million. The recent low produc- tions figure was just in excess of two million tons in 1961. Alberta's coal reserves are estimated at million tons, ensuring that there won't be any shortage for many years. Estimates suggest that the peak production of 9.5 million tons a year, achieved in the late 1940s, will be exceeded In the next few years, prompting some industry spokesmen to suggest that black gold in future will refer to coal rather than oil in Alberta. Dr. Norbcrt Berkowitz, head of coal research for the Al- berta Research Council, said worldwide shortages of coking coal and a need for a cheap I fuel source will increase Al- berta production to 25 million tons a year by 1980, While large-scale sales of coking coal to Japan es- pecially by Mclnlyre Porcu- pine Mines have attracted the greatest interest recently, the re-emergence of coal as a vital fuel source also is impor- tant. The high capital Investment required for hydroelectric in- stallations and the increasing cost of natural gas is resulting in wider use of coal-fired steam generators in many new power plants. f" r recessng oLJatatron d stems a 1003 4th Avenue S., Telephone 328-4426 recesstncr ENROLL NOW WELDING (Beginners end Advanced) ACETYLENE Sept. B-25 ARC Sept. 28-Oct. 16 AGRICULTURE Sept. 'IS (12-week fall semester) Lethbridge Community College Phone 327-2141, Ext. 219 For Lasting Beauty Forever See Our New CERAMIC TILE Color Co-ordinated With All Colored Bathroom Fixtures EASY TO INSTALL NO WASTE EASY TO CLEAN LAST A LIFETIME BEAUTIFUL COMPLETE COLOR RANGE DO-IT YOURSELF FOR AS LITTLE AS 64 .00 FOR AN AVERAGE SIZE BATHROOM WE ALSO STOCK A COMPLETE LINE OF ACCESSORIES AS WELL AS ADHESIVE AND INSTALLATION TOOLS ASPENITE CHIPBOARD EXTRA SPECIAL "D" SPRUCE PLYWOOD PER SHEET "D" SPRUCE PLYWOOD CRESTLINE BUILDERS MARKET LTD. 'LETHBRIDGE'S INDEPENDENT BUILDING SUPPLY HEADQUARTERS" 123 30th St. N. Phone 327-5444 or ;