Lethbridge Herald, The (Newspaper) - September 18, 1973, Lethbridge, Alberta
18 THE LETHBRIDGE HERALD Tuesday, September 18, 1973 Air Canada hopes for big share MONTREAL (CP) man Yves Pratte of Air Canada says the airline hopes to get more than 80 per cent of the 18 new air routes for Canadian carriers agreed to Sept. 10 by the U.S. and Canadian governments. "I would certainly hope to get more than 75 or 80 per cent of the new routes." he said in an interview Monday in the Montreal Gazette. "We are the national carrier and should get the lion's share." The remainder of new routes would be left to CP Air and the regional airliners, he said At present. Canada's princi- pal domestic routes are divid- ed into 75 per cent for Air Canada and 25 per cent for CP Air. The new Canada-U.S. air agreement provides for 46 new Canadian and American air for Canadian carriers and 28 for American. Transport Minister Jean Marchand said last Tuesday that the new routes for Cana- dian carriers would yield million revenue between now and 1979. Service on the 46 new routes ]s to be launched in four stages between now and 1979 Volvo sales increase in Canada TORONTO (CP) Volvo Canada Ltd., reports a record 7.270 units sold in Canada to the end of August, up 6.9 per cent from fi.803 last year. The total number ot cars delivered last month reached against 1.033 in August. 1972 It was an all-time record for the month. Nixon plane overhaul costly WASHINGTON (AP) President Nixon's one-vear-old ]et airplane is undergoing a oxerhdul largely to change the inlenor design that did not suit the Nixon family. The redecorating will include relocating the staff quarters and the lounge for family members and presidential guests. The original design of the Spirit of '76. which went into service in August. 1972, was approved by the former Nixon chief of" staff, H. R. Haldeman. Mrs. Nixon is reported to have expressed displeasure that the staff quarters were situated between the presiden- tial suite and the VIP guest lounge, requiring the family members and guests to walk through the staff quarter to visit the president. Dollar value MONTREAL (CP) US. dollar in terms of Canadian funds at noon Tuesday was up 3-50 at 01 1-10. Pound sterl- ing was up 49-100 at i. In New York, the Canadian dollar was down 7-100 at 9-10 Pound sterling was up 7-20 at 41 3-5 BEEF STOLEN FREDERICK, Md. (AP) A tractor-trailer truck loaded with 37.000 pounds of beef worth about was stolen from a truck stop Tuesday, police said. They said the driver of the truck was sleep- ing inside the truck stop when the vehicle was taken. WINNIPEG (CP) A fair- ly active trade at mid-session of the Winnipeg Commodity Exchange today saw most prices drop sharply with rye showing the only strength. All rye futures advanced the limit of 10 cents while oilseeds dropped as much as nine cents and feed grains eased slightly Monday's volume of trade was bushels of flax, of rye. and 2.370.000 of rapeseed. Mid-session prices Flax Oct 8 lower, 9.35B; Nov 8 lower, 921B; Ded. 7% lower. 9.09B: May 7 lower, 9.04B. Rapeseed Vancouver: Sept 7 lower, 5.84A; Nov. 4 lower. Gold futures WINNIPEG (CP) Gold futures. U.S. funds, Winnipeg Commodity Exchange close Monday. Oct 105.50A; Jan 109 00. Apr 74 112.50, Jly 74 115 SOB: Oct 74 118.30B Friday's volume: Fifteen contracts. Beef futures WINNIPEG (CP) Beef futures close Monday. Sept 49.00B; Nov 50.90A, Jan 51.00N, Mar 5100N Friday's volume: Four contracts. 5.60B; Jan. 7 lower 5.51B; Mar. 8% lower, 5.49B. Rapeseed Thunder Bay: Oct. 9 lower, 5.45A; Nov. G lower, 5.45A; Dec. 1 lower, 5.23A, May 8 lower, 5.29B. Oats Oct. lower, Dec 3V2 lower, 1.38A; May 2Vj lower, July not open. Barley: Oct. 1 lower, 2.36A; Dec 1% lower, 2.35A; May not open, July nobopen. Rye: Oct. 10 higher, 3 48B; Dec. 10 higher, 3.34B: May 10 higher, July 10 higher, 3.40B. Grain quotes Monday (basii High Low Close Flax Oct 945 942 943 Nov 933 929 929 Dec 921 916 916% May 915 911 911 Rapeseed Vancouver Sept 592 590 591 Nov 564 560 564 Jan 558 553 558 Mar 557% 551 Vt 557% Rapeseed Thunder Bay Oct 554 Nov 554 Dec 524 522 524 May 537 530 537 Oats Oct 155 147% 155 Dec 141% 140% 141% Dec 141 Vz 140% 141% May 136 131% 136% Jly 135 Barley Oct 237 230 237 Dec 236% 230 236% May 222 215 222 Jly 220 Rye Oct 338 Dec 324 May 333% Jly 330 2nd Mortgage. Money you may have forgotten about. Laurentide considers home improvement one of many worthwhile reasons for borrowing money. If you're a homeowner we can lend you up to on a 2nd mortgage. And we have flexible repayment plans. There are no bonuses, no finders fees. Drop by and talk to us or give us a call. Right now. While it's on your mind. LAURENTIDE FINANCIAL CORPORATION LTD. A Member of the Lauremide Financial Group 311 7th Street South, T1J 3Z4. 327-5791. The Herald- Business Stocks Miscellaneous Vancouver, Calgary, Montreal (Supplied by Doherty, McQuaig Ltd.) Corn harvest Jake Martens and Verne Shannon can really pile the corn husks. They're busy these days with the corn harvest on a farm in Abbotsford, on the lower main- land near Vancouver. Several trucks a day are loaded. Winnipeg grain WESTERN OILS AND Inc Royal Trust 23.75 5.25 Albany Alta East Gas Alminex Asamera Ashland BP Canada Brenda Mines Can South Cdn Ex Gas Cdn Homestd Cdn Ind Gas Oil Cdn Long Is Cdn Super Charter Chieftan Dome Pete Dynasty Fort Reliance Gibraltar Mns Giant Mascot Granisle Gt 7.90 6.20 12.62Vi 11.12V4 1475 720 520 3.15 7.60 7 87 V, 16 5350 4.00 11 75 30.62 9 15 25 1300 3.00 950 Western Cdn Seed Westfield Mm Weston A White Yukon PIPE LINE STOCKS Alta Gas A Alta Gas 4% Pfd Alta Nat Gas In Nat Gas N C Gas N C Gas B Pac Gas Trans Gaz Metro Gaz Metro A transCan Pipe TransCan A TransCan Pipe B TransCan Pipe War West Trans West Trans War 550 1 12 6050 1037V4 11.25 6550 1900 1000 925 21.37V4 11 25 425 6400 2950 56.00 39.00 5.70 1625 300 cc Gt Cdn Oil S Lochiel Lytton Mm Noble Mines North Cdn 291 2.01 1.07 Oils 04 North Con 01 Vi West Warner .31 VANCOUVER Pancdn Pete Pan Atlas Explor Bath 10 .37 .71 Petrol Pinnacle Place Gas Ponder Ranger Scurry Ram Seibens Spooner Total Ulster West Pete West Decalta MISCELLANEOUS 21 60 40 3300 19.00 1350 690 90 5 B7V4 Davenport VBDolly Vared Equitonal Res Lornex Primer Pyramid Silv Stand Valley Cop INDUSTRIALS Colum Brew Key Indus Wardair .50 22 20 12.00 .10 .14 2.23 8.60 3.90 .23 1.95 Acres Ltd Aquitame BC Sugar Pfd Block Bros Com Cap Corp Cdn Brew A Pfd Cdn Brew B Pfd Cdn Pacific Inv Crestbrook Ind Crowsnest Ind Falcon Copper F and M Trust Genstar Global Comm Home A Home B Hud Bay Co Hud Bay Oil Hud Bay A Pfd Hugh Russell Husky Oil Husky Oil 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 2050 1425 275 320 25 12 "i 2975 2950 1287'? 2500 1325 5 62'-i 1600 4400 45.37 Vz 4350 1750 4625 5700 5075 2275 42.00 740 9 75 400 755 1250 3.15 2750 775 29 87V, 1000 6 Explor Plains Pete Ponderay Explor Stamp Intl Res MUTUAL FUNDS All Cdn Com A 'I Cdn Div All Cdn Vent Amer Grow F AGF Spe Cdn Invest F Col Mutual Com Inter Com Lev Com Ven Corp Invest Crop Invest F G-t Pac Grouped Income Grow Equity Invest Grow F Invest Mut Mut Accum Nat Res NW Cdn NW Grow Pnnc Grow Royfund Temole Grow United Accum Univer Sav Univest .27V4 95 .96 6 99 7 60 7 40 8 04 3.71 4 03 555 6.10 2.95 5 08 5 57 5 85 6 42 1452 1596 3.80 4.18 7.25 7.97 6.09 6.69 5 08 5 58 4 70 514 3 44 3 78 7 62 8.37 11 99 13.10 5.79 6 33 3 65 4 02 4 98 5 47 559 614 5 21 5.73 4 53 4.98 6 70 6 97 836 916 514 565 782 859 6 07 6.67 652 715 Toronto mines, industrials (Supplied by Richardson Securities of Canada) MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Brunswick Can NW Land Canada Tung Cassiar Central Pat Chimo Conwest COPS Rambler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines DEIdona Dome Mines Discovery Mines East Malartic East Sullivan Falconbndge Frobex First Manttmes Giant Y K Granduc Hollmger Hudson Bay M-S Hydra Ex Iron Bay Iso Joliet Quebec Kerr Addison Key Anacon Labrador Lake Shore Langis Silver Madsen R L Malartic F F Martin McNeely Maclntyre Meta Midnm Intern Mogul Nu West Homes New Athona Noranda Northgate Norlex Osisko Placer Dev Pax Exp Quebec Man Rayrock Radiore Rio Algom Roman Corp Sherritt Gordon Steep Rock Tek Corp Texmont United Canso Upper Canada Western Mines W House Copper Wright Hargreaves Willroy Windfall Yellowknife Bear Zenmac Abilibi Alcan Algoma Steel Agra Ind Bell Tel Brazilian Trac BC Tel Forest 1 Suga-- 1 Valley Ind Ind Brew 8 Cellulose 266 Power Coron Cred Gas Indus Marconi Vick Bath 38.87 Gas 40 Seagrams Dom Bridge 1 Textile Stores Pete Mobile Cdn Oil Motors Lakes Paper 25 Oil Cda 22 Hawker Sid Erie Oil Nickel Group A 2 Utilities 04 Accept 1 Doug A 51 A 13 Massey Ferg 8 B 51 Cent Corp Co 1 Lawrence CDA 1 Sears Canada A 1 Group A 3 Mtn Pipe 23 Can Pipe Union Carbide Gas Oil Siscoe Mfg 1 B A 08 Cdn Seed Elec 33 Imp 12 39 Scotia Dom 1550 21.87V2 2050 33 1450 975 4.50 495 6 37 V, 2275 215 11.00 15.75 3.90 1675 2675 1600 31.50 27.37V2 14.87V4 41 25 3775 2325 14.00 3025 27 37V, 975 825 64.50 2650 3300 1750 2775 42.50 2975 9.25 2550 485 5.25 11.00 4.25 5 62V, 1550 21.75 7.75 9.25 1037V4 1675 1450 20.25 18.75 8.75 11 2925 59 37 "2 16.75 2950 1625 9 62V, 1450 700 6.25 15.00 1950 23 37 V2 550 3.00 29.75 18.50 3625 35 87 V, 33 Western oil issues make slight recovery New V ork (Supplied by Richardson Securities of Canada) Amr T-T 40.00 Woolworth Anaconda 23.50 WestWestmghouse Elec. 32 00 Beth Steel 27 B7V, U S Steel 30 25 Chrysler 26 25 Gen Tele Elec 28 62Vi Comsat TORONTO AVERAGES Dupont 16425 20 Industrials 213.65 down .23 General Motors 64.12VJ 20 Golds 267.28 up 1.01 Gull 2225 10 Base Metals 10087 down 15 Int Harvester 3250 15 Western Oils 237 25 up 202 Kenn Copper 33 62% Volume 535 00 Montgomery Ward 23 00 NEW YORK AVERAGES Scars 97QO 30 Industrials 891 70 down 1 27 X-Ron 8637VJ 20 Rails 163 10 up 54 TTexas Gulf 2475 15 Utilities 98 86 up 06 Texas Co 65 Stocks 272 23 down .01 Wix Corporation 1500 Volume TORONTO (CP) Western oil issues began making a slight recovery on the Toronto stock market today although most other prices remained mixed in moderate rnid- session trading. The western oil index, which has lost more than 18 points in the previous two sessions, was up 2.02 to 237.25. The severe drop in oil stock prices was attributed by analysts to the federal government's announcement last week of a 40-cent-a barrel sales tax increase on crude-oil exports to the United States The industrial index, consid- ered a major indicator of mar- ket trend, meanwhile was down .23 to 213.65 and base metals .15 to 100.87. Golds. India faces grain shortage New York Times Service NEW DELHI A severe wheat shortage is looming over India even as excep- tionally good rains assure bumper crops throughout the country. The sudden shortage of wheat, the staple food of most of the people of northern In- dia, has been caused partly by poor crops during the last year of drought, but mainly by mismanagement by official agencies responsible for the distribution of the grain. The drought last year is believe to have reduced wheat output by at least 2 million tons in an estimated total production of 30 million tons. The government, which took over the wheat trade last January, failed to anticipate the shortage. Inadequate im- ports have resulted in an un- precedented scarcity and high prices. Last December, the government hurriedly ordered two-million tons of wheat and corn from the United States, Canada and Argentina, and all of the grain has arrived. Of- ficials had hoped they would be able to procure enough grain locally to meet con- sumer demands. WHEAT SCARCE But with the shortfall in out- put, wheat has become scarce everywhere. Government stocks were quickly depleted by increased demands from the cities and towns, where mobs began looting grain stores and government ration shops. The Food Corporation of In- dia, a government agency, had a stock of 10 million tons but is reported to have enough for only one more month. Unless fresh imports arrive, one corporation official said, there will be no wheat for con- sumers after October. The government has order- ed the importation of 4.5 milli- on tons of wheat and other grains. But, with a worldwide drop in wheat output and heavy demands from many nations, traditional suppliers such as the U.S., Canada and Argentina have run out of grain for export. Prices have risen fourfold in the last year. Food ministry officials said that the money approved by the government for the pur- chase of 4.5 million tons at the beginning of the year now would buy only 1.5 million tons Furthermore, because of the scarcity of cargo ships and warehousing facilities abroad, none of the grain has been shipped to India. "Our wheat pipeline will dry up by the middle of Oc- said an official, "still there is no sign of a further shipment. We are truly sunk." Even if loading of the grain started tomorrow, the official said, it would take six weeks to two months for it to reach India and another two weeks to be unloaded. That would leave a gap of at least a month, he said. The government is said to have approached the Soviet Union for an emergency loan of 2 million tons of wheat, but reportedly there has been no response. The Soviet Union bought 17 million tons of grain from the U.S. early last year, and Moscow is reported to have agreed to give Bangaladesh tons of wheat to meet urgent needs. The Indian government has been trying to procure wheat from farmers and traders. Prime Minister Indira Gandhi and her aides have accused traders of hoarding and they have threatened to invoke emergency legislation against the hoarders. But action by some state governments has had little effect. The next wheat crop will not be harvested until April, since it is grown once a year. Rece- nt widespread rain, which has caused flooding in some areas, will help the production of rice. But there still will not be enough Alternatives to wheat are coarse grains such as corn and barley, but the urban populati- on has no use for them. Livestock Calgary CALGARY (CP) Receipts at the Calgary public stockyards Monday included 275 cattle, 36 calves and 111 hogs. Bulls steady. Good bulls 44- 45, odd sale higher. Stock calves steady. Good stock steer calves more than 400 pounds 62-70 Rest of cattle report un- changed. Hogs base price Lethbridge (Supplied By Canada Department of Agriculture) There were no cattle sales Monday due to the weekly sale of weaner and feeder hogs. Sales hogs. All classes of weaner and feeder hogs met only fair demand. Weaners steady to a shade lower Light feeders under 100 Ibs. to per head lower. Heavy feeders over 100 Ibs. to per head lower. Weaners 17.50 to 26.50. Light feeders under 100 Ibs. 26 Vi to 34 V4. Heavy feeders 100 to 130 Ibs. 36 to 42.50. Heavy feeders over 130 Ibs. 48 to all prices per head. Light feeders under 100 Ibs. sold from 37 to 50.50 per hundredweight. Heavy feeders over 100 Ibs. sold from to 38 per hundredweight. Butcher hogs sold Monday at the Lethbridge yards 58.35 to 58.55 base price. One load of butcher hogs sold for export at 46Vi liveweight. were up 1.01 to 267.28, ap- parently in response to increased bullion prices on in- ternational markets. Declines held a slight lead over advances, 124 to 106, while 168 issues remained un- changed. Volume at 11 a.m. was 000 shares compared with 636.000 at the same time Mon- day Merchandising, oil refining, construction and material and general manufacturing issues were among sectors of the market recording gains while beverage, chemical, in- dustrial mining and steel stocks were lower. Husky Oil increased to Dome Pete to Canada Cement to BP Canada V-t to and Oc- cidental Pete Vt to George Weston was off Vz to Westcoast Transmis- sion to Alcan to Bow Valley to and Inland Natural Gas to Kam-Kotia rose 5 cents to 51 cents. Chibougamau 4 cents to 42 cents and Noble Mines 2 cents to Lost River dropped 65 cents to and Hudson Bay Mining and Smelting Vt to Pan Ocean climbed Vt to and United Canso V8 to while Skye Resources dropped 25 cents to MONTREAL (CP) All sectors except utilities registered moderate gains in light trading on the Montreal stock market today. Combined volume of in- dustrials, mines and oils was 234.500 shares, compared with 181.300 shares traded at the same time Monday. Papers gained .43 to 138.74, banks .37 to 267.50, com- posite 04 to 224.79 and the 151 stock industrial index .01 to 242 49 while utilities fell 03 to 13908 On the Montreal Stock Ex- change. IAC Ltd. gained Vi to IU International Corp. 'i to Peoples Depart- ment Stores V8 to and Aquitaine Co. of Canada Vs to On the Canadian Stock Ex- change, Dumont Nickel Corp. rose two cents to 52 cents on a volume of shares traded. NEW YORK (AP) Stock prices were mixed today as near-term profit taking erod- ed some early gains, brokers said. The Dow Jones average of 30 industrials, which had gain- ed more than 12 points in Fri- day and Monday trading was off 2.64 at 890.35 at noon. Ad- vances narrowly led declines in moderate activity on the New York Stock Exchange. Among Canadians on the New York exchange, Massey Ferguson was up at and Canadian Pacific Vs at Alcan was down at International Nickel at and Hiram Walker at Hog prices EDMONTON (CP) Closi- ng average prices provided by the Alberta Hog Producers Marketing Board Monday: Edmonton: 59.03, average Friday 58 79 Red Deer: 59.48; average Friday 58.60. Calgary: 59 33, average Friday 58 49. Lethbridge: 58.47, no sales Friday. Lloydminster: 58.25, average Friday 58.45. Grande Prairie: 57.71, no sales Friday. Fairview. 5765, no sales Friday Total hog sales average 58.95, total sows 89, average 44.55. Canada Life Announcement E. H. CRAWFORD A. H. LEMMON J. G. HUNGERFOKD, Q. C. Edward H. Crawford has been elected President of The Canada Life Assurance Company. A Director and formerly Executive Vice-Presidont, Mr. Crawford joined Canada Life in the Investment Division in 1948. lie has boon an Officer of the Company since A. Hazlett Lemmon has been elected Chairman of the Board of Canada Life. He has been associated with the Company for forty-five years and has been President since 1964. J. G. HungerforrI, Q.C., who has boon Chairman of the Board of Canada Life for the past four years, has boon elected Chairman of the Exoculivo Committee of the Board.