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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 11, 1974, Lethbridge, Alberta Wednesday, September 11.1974-THE LETHBRIDQE Toronto market prices continue lower trend TORONTO (CP) Prices on the Toronto stock market were moderately lower in moderate mid-morning trading today. The industrial index fell .74 to 158.73, golds 4.19 to 360.02, and base metals .38 to 64.04. Western oils rose 1.14 to 134.26. Market trends MONTREAL (CP) Prices were mixed in light trading on the Montreal Stock Exchange today. Volume at a.m. was shares, compared with 201.000 shares at the same time Tuesday. Banks fell 2.60 to 199.15. utilities 1.62 to 116.23, the composite .61 to 162.84, industrials .03 to 170.26 and papers .01 to 97.96. Bell Canada fell to Bank of Montreal "2 to Royal Bank to Toronto-Dominion Bank 'A to Canadian Pacific Ltd. 'A to and Pan Ocean Oil to Aquitaine rose to Total Petroleum ft to Husky Oil to and IAC Ltd. U to Amont speculative issues, Somed Mines fell eight cents to on a volume of 5.400 shares traded. VANCOUVER iCP) Prices were up in light trading during the first hour of trading on the Vancouver Stock Ex- change today. Volume was 46.600 shares. In the industrials, Grouse Mountain was unchanged at on 600 shares. In the Mines. Billy Goat was up .01 at 07 on shares. In the oils. Plains Petroleum was unchanged at .10 on 500 shares. In the curb exchange, volume was 8.600 dhares. Thor Ex- plorations led trading, down .03 at on 6.000 shares. In Tuesday's session prices were down in light trading. Total number of shares traded was 929.585. In the industrials. Key Industries was unchanged at .07 on 7.500 shares. Newmark was np .10 at .50 on 6.500 shares. It) International was down .25 at on shares. Crestwood was down .05 at .60 on shares. A lean Aluminum was unchanged at Canadian Javelin was down .62'4 at In the mines, Grandora was down .01 at .20 on 51.500 shares. Jackpot was un- changed at .06 on shares. Northair was down .01 on 39.- 700 shares. Barrier Reef was down .01 at at shares. Colt was un- changed at .50. Consolidated Standard was down .01 at .06. In the oils. Plains Petroleum was un- changed at .10 on shares. Payette was down .06 at .23 on 17.500 shares. Stampede was down .01 at .54 on 17.150 shares. Galveston was ua- changed at on 12.900. Coynex was down .27 at .83 Delta Petroleum was down .01 at .05. On the curb exchange, total volume shares. Yellowstone was down .09 at .56 on 19.000 shares. Thor Ex- plorations was up .08 at on shares. Highland Queen was down .04 at SI .96 on 11.730 shares. Claymore was up at on 10.500 shares. Dasher was down .01 at .38. Lyon Mines was down a half cent at .10. Currencies MONTREAL (CP) Wednesday's mid-day foreign exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.01 France franc .2100 Germany mark .3770 Japan yen .003310 Mexico peso .0800 Spain peseta .0175 Switzerland franc .3350 United States dollar .9885 United Kingdom pound 2.3100 U.S.S.R. ruble 1 3021 Quotations in Canadian funds. Metals LONDON (AH) Tuesday's closing metals bid-ask in pounds sterling a metric ton: silver in penre a troy ounce: Copper-spot 631-632: futures 650451 Tin-spot 3.700-3.750: futures 3.520- 3.530 Lead-spot 231-233: futures 222-222.5 Zinc-spot 388-490: futures 397-399 Silver-spot 174.5-175.5: 3 months 179- 179.5 Gold futures WINNIPEG Live beef futures close Tuesday. Sept. 47.75N: Nov. 48.50N; Jan 47.90A: March 48.50N. Monday's volume: 10 contracts (3YnrTm) 6UARANTEED SAVINGS CERTIFICATES of compounded to Member Canada Deposi} Insurance Corporation on Qjympte FARMERS MERCHANTS TRUST Volume by 11 a.m. was 399.- 000 shares compared with shares at the same time Tuesday. Declines outnumbered ad- vances 121 to 700 with 163 issues unchanged. Automotive Hardware A lost to Economic Invest- ment Vz to Bell Canada V2 to Texaco-Canada Vz to and Royal Bank Vz to Pan Ocean fell Vs Total Pete gained to and United Canso V4 to Aquitaine rose to Steintron to Dome Mines 1 to NBU Mines 40 cents to and Campbell Red Lake to Denison was down to Camflo to and Roman to Livestock Calgary CALGARY (CP) Receipts to 11 a.m. Wednesday from the Calgary public stockyards totalled head, mostly slaughter steers, heifers and cows. Trade was moderately active on steers and heifers and dull on cows. There was good eastern demand for all classes. Steers sold lower with heavy Al and A2 steers in short supply. Steers weighing under pounds were discounted to Heifers sold steady. Cows met a narrow demand with bl and D2 cows unevenly steady to lower. D3 and D4 cows sold. steady. Bulls were steady. Steers. Al, A2: 46.75 to 47.90. Heifers. Al, A2: 42.50 to 44. Cows. Dl. D2: 19 to 21. D3, D4: 15 to 19. Bulls, good: 25.25. There were insufficient feeder cattle or stock calves sold early to establish a market. Hogs f.o.b. to 11 a.m.: 51.05. Chicago markets CHICAGO (AP) Farm commodity futures gave way under profit-taking on the Board of Trade Tuesday and closed mostly lower. There also appeared to be some liquidation of positions held by longs in advance of 'a U.S. agriculture department crop report to the issued Wednesday. It will estimate this year's crop production based on crop conditions September 1. There were periods at which times small rallies were set off in the major pits but the drives were not sustained. At i the close, soybeans were unchanged to 5% cents a bushel lower, Sept. 7.27; Chicago wheat was down 6 cents, Sept. 4.28. There was no trade in Gulf hard red wheat: com was down 4% cents, Sept. 3.43 and oats were 3% to 6 lower. Sept. 1.75'A. Earnings By THE CANADIAN PRESS Bridge and Tank Co. of Canada .Ltd., .six months ended Juen 30: 1974. no pershare figure; 1973. Canto! Ltd.. six months ended June 30: 1974. 45 cents a share; 1973. 19 cents. Daon Development Corp., nine months ended July 31: S2.52 million. a share: 1973. million. 81 cents. Federal Industries Ltd., three months ended June 30: 1974. loss. 6 6 cents a share: 1973. profit. 16.5 cents. Merland Explorations Ltd., six months ended June 30- 1974. two cents a share; 1973. three cents. Ogilvie Flour Mills Co. Ltd., three months ended July 31: 1974. 65 cents a share: 1973. 36 cents Patino, N.V.. six months ended June 30. 1974. a share: 1973. Pe Ben Oilfield Services Ltd.. six ended June 30: 1974. 20.9 cents a share; 1973. f761.000. 42.2 cent's. Hog prices EDMONTON Prices to II a.m. Wednesday provided by the Alberta Hog Producers Marketing Board. Tuesday's prices in brackets. Edmonton: 51.10 Calgary Simp Sears Sunntagdate 4 00 Steel Can A Tek Corp. A 3.00 A Texmont .16 lexaco Untied Canso 7.37'i Tiad Grp A WesSem Mines 2.10 Trans WBn WH Copper Mines 2.65 Trans Can Pipe VVnghj Hargreaves 1.30 Union CarbHJe Witlroy 142 Union Gas Wmdlall .11 Oil Bear 2.35 umteQ Siscoe Zeivmac Mig 9NOUSTR1ALS Wesleel Abitibi 9.00 Weslons Atoan A AKgoma Steel 23.75 A1oo JrxJ 9.50 Can imperial Agra Ind 4.80 Montreal Bell Tel 42.00 Neva Scotia Stascan A Poyal 8C 48 Tct Dom BANKS 8.50 8.50 17.50 6.50 3.00 18.75 2.50 3.10 4.75 8.25 20.50 2.80 12.00 12.37% 11.62% 25.50 24.50 14.00 25.75 34.50 19.62% 6.00 13.62% 21.25 24.50 2.30 6.00 37.37% 16.00 24.50 14.75 4.50" 36.50 17.25 26.00 19.62% 24.87% 11.12% 5.25 10.25 14.62% 4.60 2.01 4.50 5.50 2.80 5.62% 8.62% 12.75 22.75 41.75 15.75 14.75 4.60 9.00 8.37% 10.87% 9.00 11.25 6.37% 8.62% 26.50 1050 31.00 9.12% 11JB 9.00 10.62% 7.62% 7.00 2.85 3SS 17.00 23.00 2025 32.00 2550 30.25 New York Amr. if T Anaconda Bern Steed 1100 9SO 43.1214 General Motors Irrt Harvester Copper Sears Texas GM Corporation 4 167' 4 Wocfltwrjti Wesunglbouse Etoc 5775 US Sieel 12.62'.- Srer >i Else 2S 12 "JOROMTO AVERAGES 112 SC 'nSuslrisls 15837 down 1.10 38 L Sc ds 05 down 16.10 17 12', >C WHMS 64.37 down .05 if 25 15 WSMCTTI Ofls 132.66 down .46 735.OOO 25 'JfW YORK AVERAGES up 4. OS 6475 20 13633.down.42 IS UJtluws 60.04 down .03 2250 fcS Stootss 201.62 up 58 10.00 Volume 5.080 000 Cement shortage delays construction in Alberta CALGARY (CP) A ce- ment shortage in Alberta this year has delayed construction and left individual citizens without material for home projects such as paving driveways. Two major producers in Alberta. Canada Cement and Inland Cement, have imposed quotas on supplies to customers based on what they purchased in the last. No estimates are available on how much construction has been held up but the feeling among government and in- that in most cases construction has been delayed rather than stopped outright. "Definitely there's been a slowdown of R. M. Scrimgeour, executive director of the Calgary Construction Association said Tuesday. George Blochert, provincial consumer affairs officer 111 Ford continues talks with unions WASHINGTON (AP) In the second round of pre- economic summitry, Presi- dent Ford turns to labor leaders for their views on solving the twin problems of inflation and recession. Ford invited 28 union of- ficials to the White 'House to- day as part of a continuing series of meetings leading to an economic summit Sept. 27- 28. Despite the broad range of views presented by economists last week, organized labor is expected to present a fairly united front with the emphasis on a lower- ing of interest rates and an easing of tight-money policies. Labor also is con- cerned about sacrificing jobs to cure inflation. AFL-CIO President George Meany invited today's partici- pants to a breakfast caucus to discuss their proposals before- .hand. In addition to AFL-CIO :_union leaders, he sent in- vitations to the heads of two major independent United Auto Workers Presi- dent Leonard Woodcock and United Mine Workers chief Arnold Miller. Organized labor has pledged to co-operate with the new president but there are signs the honeymoon with Ford may be coming to an end. "The new management looked fairly good until a cou- ple of days Meany told a union meeting in Kansas City Tuesday as he criticized Ford for granting Richard Nixon a full pardon before any charges were brought against the for- mer president. Parliament recall urged to settle grain strike WOODSTOCK, Ont. (CP) World food shortages, grain tie-ups on the West Coast and the destruction of rotten eggs were topics touched on by Charles Munro. president of the Canadian Federation of Agriculture, Tuesday night. "I marvel at the amount of ink given to a loss of three- quarters of a day's production of eggs, valued at when transport workers and grain handlers sit on their butts." Mr. Munro told the Ontario Federation of Agriculture. The prolonged-grain handlers' strike affects not only western farmers but will have "a total effect on the economy." he said. A recall of Parliament to legislate the men back to work is the only way a settlement will be reached, Mr. Munro said. The strike which began Aug. 6 was mishandled by the Normal crop hopes dashed by snowfall EDMONTON (CP) -Hopes for a normal crop were dashed for thousands of Alberta farmers early Tuesday when a heavy, wet snowfall flattened fields from Boyle to Vegreville. north and east of Edmonton, said Bill Dascavich. National Fanners I'nion spokesman. Standing barley and oat crops were especially hard hit. although many fields of wheat were also down, he said in a prepared release. Crop yields had already been affected by a late spring and early fall frosts. The NFU will make representations to both levels of government for assistance to affected fanners, said Mr. Dascavich. politicians, said Mr. Munro. "They were committed to a position prior to bringing the powers together." Mistakes are made when "too many people are in control of each marketing board in the 10 provinces." Mr. Munro said. Calgary, said people have been phoning him daily for the last two or three weeks com- plaining of not being able to get cement. He said all com- plaints were from private citizens rather than contrac- tors. An Insland Cement spokesman said there was a 20-per-cent increase in de- mand last year as opposed to a normal three-to-five-per-cent increase. The company planned for production demand to fall back to normal this year but instead it rose three to five per cent over last year's peak. A Canada Cement official said his company had not been prepared for the high demand this year. Besides the increased demand, other factors leading to the shortage are an un- usually long dry spell that kept construction booming, and a breakdown at Inland Cement's Edmonton plant that stopped 17 days' produc- tion. Mr. Blochert said the con- sumer affairs department has found no evidence of stockpil- ing or other tactics to create an artificial shortage. He said recently-announced price increases for cement were in line with rising production costs and there was no evidence of producers taking advantage of the shor- tage by boosting prices. Although cement is coming back into plentiful supply with the onset of the winter there could be a shortage next summer if the demand keeps up. Inland Cement will be going full capacity this winter com- pared to 60-per-cent capacity production in the past. Canada Cement is expanding its plant at Exshaw, Alta., and will increase production by two- thirds by late fall. An official of the federal consumer affairs prairie divi- sion in Winnipeg said he had received no complaint of ce- ment shortage in the prairies and a check with Ottawa revealed no national shortage. FOR LEASE! 4 Bay Service Station In Lethbrldge For complete investment requirements and profitability CONTACT: R. T. STRAND 335 Bth Ave. S.W., Calgary, Alberta or Phone 268-0330 or 244-6846 UNION OIL COMPANY OF CANADA LTD. INFLATION INSURANCE PHONE 327-8987 CANADIAN SILVER MARKETING CO. LTD REVENUE MUST SELL BIOQC 141-143- Park Meadows Boulevard cJus eqii'ty tu ;d oo in this 1 year old OPEN HOUSE THURSDAY, SEPHMBEH 21. Ml. LENA PEACOCK ;