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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 13, 1974, Lethbridge, Alberta Friday, September 13.1974 THF i FTHRRIDGE HERALD Market prices slump for fifth straight day TORONTO (CP) Prices on the Toronto stock market were sharply lower in moderate midmorning trading today. The industrial index felt .94 to 152.14 and western oils 1.17 to 125.67. Golds rose 27.3 to 341.58 and base metals .77 to 63.45. MONTREAL (CP) Prices were generally lower in light trading on the Montreal Stock Exchange today. Volume al a.m. was shares, compared with shares at the same time Thursday. Banks fell 1.02 to 197.72, industrials .40 to 163.01 and the composite .23 to 156.80. Utilities rose .68 to 112.35 and papers .01 to 95.64. Pacific Petroleums fell 1 Distillers Corp.-Seagrams to Hudson's Bay Company to Canadian Imperial Bank "i to Alcan 'A to Bell Canada to and Royal Bank to Cana- dian Pacific Ltd. rose to Canadian Javelin 'A and Bank of Montreal to Chicago markets CHICAGO (AP) Soybeans, soybean meal and oil and corn futures bulged Thursday as a result of a U.S. agriculture department crop report, but cotton futures fell. The department reported late Wednesday that it expects soybeans production this year to be some 16 per cent lower than last year's record, and corn production some 11 per cent lower than 1973. Wheat production was expected to be 5 per cent higher. Limit gains were posted early in most farm commodities on the Chicago Board of "Trade, but not all held up to the close. The cotton estimate for this year was greater than the trade had expected and futures were sold on that basis. Cotton fell as much as a bale. Silver, coffee, cocoa and world sugar, copper and orange juice futures also declined, while wool futures rose. The firmness in feed grain futures influenced buying of shell egg futures which produced a limit gain of 200 points on the Chicago Mercantile Exchange. Live hog futures ran up a gain of up to a limit per hundredweight and live cattle advanced per hundredweight, while prok bellies gained the limit of 150 points, all largely on the strength of grain futures. Silver futures appeared to react to some weakness in gold prices and to profit taking at local levels in New York. Chicago and London. Copper eased as support dwindled in the face of active selling. At the close on the CBOT. soybeans remained 20 cents a bushel higher. Sept. 7.64; Chicago wheat was 2 lower to 4 higher. Sept. 4.36: Gulf wheat was not traded: corn was 7 to 9 higher, Sept. 3.58: and oats were 3'A lower to higher. Sept. 1.78'A. Volume by 11 a.m. was 000 shares compared with shares at the same time Thursday. Declines outnumbered ad- vances 169 to 85 with 175 issues unchanged. Hudson's Bay Co. lost to Calgary Power to Market trends Among speculative issues. Mount Jamie Mines rose three cents to 13 cents after trading 40.000 shares. VANCOUVER (CP) Prices were mixed in light trading on the Van- couver Stock Exchange today. Volume in the first hour was shares. In the industrials. Canterra was un- changed at .18 on shares. In the mines. Pacific Resources was un- changed at on shares. In the oils. Silver Crystal was unchangeS at .21 on shares. On the curb exchange shares were traded. Highland Queen was un- changed at on 2.000 shares. Prices were down Thursday in light trading. Volume was shares. In the industrials, Key Industries was unchanged at .06 on shares. Newmark was down ?02 at .43 on shares. Wardair was up .10 at on shares. Cornat was unchanged at on shares. Woodward was unchanged at Great National Land was unchanged at .50. In the mines. Barrier Reef was down one cent at .87 on shares. Northair was up .09 at on shares. Carolin was up .14 at on 36.200 shares. Bathurst was unchanged at .75 on shares. Gunn was down .02 at .18. BX Development was down .07 at .55. In the oils. Cop-Ex was up .OStfe at .24 on 36.100 shares. Coynex was down .03 at .80 on shares. Stampede was unchanged at .52 on shares. Payette was down .01% al 19% on 14.- 600 shares. Bison Petroleum was down .10 at Galveston was unchanged at In the curb exchange, volume was shares. Dasher was up .02 at .40 on shares. Thor was up .02 at on 24.200 shares. Highland Star was down .03 at .22 on 14.000 shares. Cedar City was unchanged at .50 on shares. Olympian was unchanged at .29. Highland Queen was up .05 at Currencies MONTREAL (CP) Friday's mid- day foreign .exchange selling rates supplied by the Bank of Montreal: Bermuda dollar 1.01 China renminbi .5125 Denmark kroner .1640 France franc .2100 Germany mark ;3760 Japan yen .003310 Mexico peso .0800 Spain peseta .0175 Switzerland franc .3335 United States dollar .9895 United Kingdom pound 2.3100 U.S.S.R. ruble 1.3021 Quotations in Canadian funds. LETHBRIDGE PRIME SPACE Professional Bldg. 740-4th Avenue South Office of your own requirements 400-7000 sq. ft. Air conditioned for information contact PAHULJE CONSTRUCTION LTD. 402 Professional Bldg. Phone 327-6747 CATTLEMEN Book your calves or yearlings with us now to grow and winter for you on our corn silage. We can also feed them out through to market if you like. We have modern feeding facilities and top notch personnel, space available for another 2000 head at present, so book early. We can also grow out-and breed your exotic heifers for you, as we have top A.I. technicians and facili- ties for your convenience. For furttwr information Phone 328-9721 Broxbum Feeders Ltd. Texasgulf to Allarco to and Pacific Pete to Denison fell to Total Pete to United Canso Lake Shore 70 cents to Rannger to and Canada Southern Pete seven cents to NEW YORK (AP) Stock prices fell broadly in moderate trading today in a session marked by margin calls and more gloomy inflation news. The noon Dow Jones average of 30 in- dustrials declined 6.88 to 634.86, or only slightly above what analysts are call- ing a crucial testing zone the four- year closing low of around 631 set in May of 1970. Issues dropping in price outnumbered gainers by a better than 7-to-3 margin on the New York Stock Exchange. Westinghouse Electric, most active- ly traded NYSE issue, fell to On the American exchange, the market value index gave up 0.45 to 63.61. Gold and silver issues rebounded after four days of severe losses. ASA, Ltd. rose 7% to J85W. Dome Mines, 4 to Campbell Red Lake, 3V2 to and Hecla Mining. 1% to Among lower blue chips. Eastman Kodak. Allied Chemical, Ford Motor and Alcoa were all point-size losers. In the glamour sector, Merck plunged 5% to but Upjohn climbed to Among Canadian issues on the NYSE. Mclntyre Mines recovered to but Alcan Aluminum was off to and Distillers-Seagram to Winnipeg grain WINNIPEG (CP) All months of flax eased the daily trading limit of 30 cents a bushel by mid-session today in generally light activity on the Win- nipeg Commodity Exchange. Rapeseed lost as much as 6 V2 cents a bushel, while other commodities were unchanged to slightly lower. Thursday's volume of trade was376.- 000 bushels of feed wheat. of oats. 3.564.000 of barley. 49.000 of corn. 1.324.000 of rye. 130.000 of flax and 1.720.000 jof rapeseed. Mid-session prices: Thunder Bay rapeseed: Oct. un- changed 8.38A: Nov. unchanged 8.16A: Dec. and May not open. Vancouverer rapeseed: Sept. 6'.i lower Nov. 3Vi lower Jan. two lower 8.44 B. Mar. one higher Flax: Oct. 30 lower 11.85A: Nov. 30 lower 11.62A: Dec.'30 lower 11.45A; May 30 lower I1.16A. Feed wheat: Oct. unchanged Dec. irhchanged 3.98A: May and July not open. Corn: Dec. unchanged 3.76B; Mar. unchanged 3.83A: May unchanged 3.89A: July not open. Barley: Oct. lower 2.98A: Dec. 1 '.i lower 2.93A: May two lower 3.00A: July not open. Oats: Oct. unchanged Dec. 1'z lower 1.91'zB: May two lower I.96A: July not open. Rye: Oct. 2': lower 2.88B: Dec. three lower 2.80B: May 2'i lower 2.88' iB: .July not open. Livestock Calgary CALGARY (CP) Fridays light receipts to 11 a.m. Friday at the Calgary public stockyards totalled about 600 head, mostly cows and replacements lacking quality. Trade was moderately active. There were insufficient slaughter steers or heifers on offer to establish a market. Cows sold steady with sales to 22.50. Bulls were steady for quality. Cows Dl-2 20-22. D3 15-20. Good bulls 25-28. Feeder cattle were in short supply selling steady for quality. Stock calves on offer were lacking in quality with insufficient sales early to establish a market. Feeder steers over 750 pounds 34- 39.70. under 750 pounds 30-35. Feeder heifers over 551 pounds 26-32.70. Hops base price 51-51.05. Hog prices EDMONTON Average closing prices Friday provided by Ihe Alberta Hog Producers Marketing Board. Thursday's average in brackets: EdnwnUm: 51.00 <51.ffiit. Calgary: 51.0! <51 ,Wi. Red Deer: 51.00 LeJhbridRe: Nil <50.39V Fort Macfocid Nil Total hops soM 337. average 51.00. were no sows soW, Beef futures WINNIPEG Lire beef fotumcs cJose Ttarsday. Sejfl. 47.JMV: Nov. AtSOU: Jan. 46.SOA: Mar. 4S.30N. v's vrttrmc: No cwrtracts. Feed prices WiXNIPBG Wheat bosrtJ domes! ir !fm! pratn TPrmrsflay: 2 CW 3Vo. 1 red Jjntnfz wfoea! AM: 'No. Jwd rats 5 Dollar value MONTRKAJ. US. 1trms fit Canadian Jnnds al norm today was op 1-Sifl a1 SO.SS fVwmd mg was