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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 25, 1974, Lethbridge, Alberta 6 LETHBRIDGE HERALD Wednesday. September 25, Natural gas shortage in Canada predicted CALGARY (CP) The Canadian Petroleum Association said today that there will be a natural gas shortage m Canada in the next few years un- less wellhead prices are increased quickly, sub- stantially and in rapid escalation. The association, in a submission to the National Energy Board in Ottawa today, said the industry will be able to bring gas supply and demand into balance only when given proper incentives and with the minimum of governmental control. The association made the 265-page submission on future Canadian gas supply and re- quirements at the board's request. The report was prepared for the association by Sherman H. Clark associates of Memo Park, Calif. The report said production capacity in existing gas fields is m- sufficient and Mackenzie Delta and other frontier sources of gas are "most urgently needed" to satisfy Canadian requirements. "In order to bring supply and demand into balance, much higher wellhead prices must be accepted for the balance of this decade." "In the 1975-79 period, before any frontier gas is likely to be available, the total supply does not meet the domestic de- mand plus export com- mitments, but the deficiency is much less pronounced" if gas prices are allowed to reach parity with other energy resources. The report said it may be already too late to avert a shortfall in Canada, What Canada should decide is "the extent of the shortfall by virtue of pricing and general government policy." Association officials said last week's an- nouncement to increase the export price and the announcement to increase the wellhead price in British Colum- bia are positive steps. Energy minister Donald Macdonald an- nounced Friday that the price of gas exported to the United States will increase to per thou- sand cubic feet from the current average of 60 cents Jan. 1, 1975. James Rhodes, chairman of the B.C. Petroleum Corp., an- nounced in Calgary that the wellhead price in B.C. will increase to 33 cents per thousand cubic feet from 22 cents. Beef-producing industry faces 'gloomy CALGARY (CP) A gloomy outlook for the beef- iroducing industry for the iext two years was predicted nere by Bert Hargrave. DANISH CONSULATE C. N. Jessen Mr. C. N Jessen. a Calgary business man. has been ap- poinled Honorary Consul of Den- mark for Southern Alberta to provide consular services to Damsh -alionals and other per- sons M- Jessen moved to Calgary 18 years ago from Den- mark, where he was born, and is now a Canadian citizen The Con- sulate Office will be located at 216 4Qth Avenue N E. Calgary. Alberta Mr Jessen succeeds Mr A R Nielsen who has retired as Consul !or business reasons Conservative MP for Medicine Hat, during a breeders' show in Calgary. He said one-third of the Canadian herd would be slaughtered off. The reduction is necessary to bring down supplies, which are exceeding profitable demand. Canada is not the only country facing a beef over- supply dilemma. Herds have been increased in all beef- producing countries with the exception of Argentina. All are cutting back their herds. The reason for the world- wide beef oversupply is the result of a herd build-up averaging 13 per cent during the last five years. In Australia it has been averag- ing 32 per cent. The build-up was in response to a doubling of con- sumer beef prices for a period of three years before that. "But in expansion of production to fill what appeared to be a need, the cattlemen and governments which urged them to do so didn't take into consideration inflation and devaluation of world currencies." Mr. Hargrave said. Canadian cattlemen joined in the expansion stampede despite warnings that they would get themselves into trouble. "It is the worst and most serious situation I have ever experienced in my lifetime, including the depression years." said Mr. Hargrave. Producers to withhold egg tax ABBOTSFORD, B.C. (CP) Egg producers in British Columbia's lower mainland voted unanimously Tuesday to withhold their weekly levies from the Canadian Egg Marketing Agency until the national egg scheme is operating smoothly. Many of the 150 producers at the monthly meeting of the British Columbia Egg Producers Association said the move could jeopardize the future of CEMA. The producers complained that CEMA is not operating as originally envisioned noting national production quotas be- ing based on the availability of laying chickens rather than being geared to market demand. Ed Morgan, manager of the B.C. Egg Marketing Board charged that "both the national CEMA represen- tatives and their provincial egg-marketing counterparts are only paying lip service to a national marketing scheme." The B.C. producers' levy amounts to about a week on CEMA quota eggs and sometimes as high as S140.000 a week with extra charges which involve some excess quota eggs. Earnings up MONTREAL (CP) Reit- man's (Canada) Ltd. reports net earnings for the six months ended July 31 of Sl.670.500 or 36.6 cents a share. Revenue Canada Customs and Excise CANADA CUSTOMS INFORMATION SHOULD YOU REQUIRE IN- FORMATJON OR ASSISTANCE RELATIVE TO CUSTOMS MATTERS. YOU MAY CALL YOUR LOCAL CUSTOMS OFFICE. !F THERE )S NO LOCAL OFFICE. ASK YOUR TELE- PHONE OPERATOR FOR THE FOLLOWING ZENITH NUM- BER AND YOUR CALL WILL BE PLACED WITHOUT CHARGE MONDAY TO FRIDAY 0900h-1700h 66230 1700h 2400H 66201 SATURDAY AND SUNDAY 0900h-2400ti 66201 Revenu Canada Douanes et Accise DOUANES DU CANADA INFORMATION Si VOUS DES1REZ DES REN- SEIGNEMENTS OU DE CONCERNANT LES DOUANES DU CANADA. VEUILLEZ TELE- PHONER LE BUREAU DES DOU- ANES DANS VOTRE LOCALITE. POUR UNE COMMUNICA- TION 1NTERUR8AINE, DE- MANDEZ A VOTRE TELEPHON- ISTE POUR LE NUMERO ZENITH SUIVAN1 ET VOTRE APPEL SERA TRANSMIT SANS FRAIS LUNDIAUVENDREOI 0900h 1700ti 66200 1700h 2400H 66201 SA.MEOI ET OSGOh 2400h 66201 The Herald- Business Stocks Miscellaneous Vancouver, Calgary, Montreal MIDLAND DOHERTY UM1TKD WESTERN OILS AND MINES Afton Mines 4 20 Albany Oil 26 Alta East Gas 4.65 Alminex 4.85 Asamera Ashland 650 BP Canada 11 50 Brenda Mines 4 15 Cda South 2 10 Cdn Ex Gas 2 15 Cdn Homestd 3 05 Cdn Ind Gas Oil 4.50 Cdn Long Is .14 Cdn Super 28.00 Chieftan Dev 4 75 Dome Pete 21 75 Dynasty 0.87'i Nu Fort Reliance 16 Giant Mascot .75 Gibraltar Mines 6.25 Gramsle 10.25 Gt Cdn Oil S .5 50 Lochiel Ex 1.16 Lytton Mm 111 North Cdn Oil 3 00 Numac 9 25 Pancdn Pete 8.00 Pan Ocean 7.75 Petrol 1 15 Pinnacle 19 Place Gas 22 Ponder 52 Ranger Oil 15.00 Scurry Ram 2000 Seibens 7 00 Spooner .20 Total Pete 6 50 Ulster Pete .68 United Canso 8 00 West Pete 3 00 West Decalta 3.95 MISCELLANEOUS INDUSTRIALS Acres Ltd 612V2 Aquitame 17.50 BC Sugar C Pfd 1175 Block Bros 2.65 Canbra Foods 2.50 Cdn Pac Inv A Pfd 26.00 Cdn Pac Inv Carlmg O'Keefe A Pfd 17 00 Carling O'Keefe B Pfd 20 25 Comm Cap Corp 1 40 Crestbrook Ind 3.25 Crowsnest Ind 12.00 Falcon Copper 8.62V: F M Trust Co 3.50 Genstar 14 62V? Home Oil A 20 25 Home Oil B 19 00 Hud Bay Co 11.37V4 Hud Bay Oil 24 62V4 Hugh Russell C Pfd 55.50 Husky Oil 14.50 Husky Oil B Pfd 32 00 Husky Oil E War 4 20 Interprov Pipe War 1 80 Interprov Steel 1212% Kaiser Res 3.25 Kaiser Res War 1.30 Loblaw C Pfd 22.87% Magnasonics 1 57 Pacific Pete Pe-Ben Oilfield Serv Ramer Inc Royal Trust Teledyne Tnmac Westfield Mm Weston A Pfd White Yukon 1550 275 1 87'i 21 00 380 320 60 4400 625 PIPELINE STOCKS Alta Gas Trk A 10.25 Alta Gas Trk Pfd 60.00 Alta Nat Gas 17.00 Gaz Metro 4 70 Inland Nat Gas 9 75 N C Gas 8 75 N C Gas B Pfd 1725 Pacific Trans 7 37% Trans-Cda Pipe Trans-Cda A Pfd 47 25 Trans-Cda B Pfd 27 50 Trans-Cda War 80 WC Trans 1600 WC Trans War 1 55 CALGARY Acroll .34 Barons Oil .06 N Continental .02 Western Warner .21'; VANCOUVER MINES Bathurst Norsemmes 72 Dankoe 210 Davenport .37 Lornex 5.25 Northair Mines 1 70 Primer 04 Pyramid 06 Silver Standard 1 00 Valley Copper 5 80 INDUSTRIALS Key industries .07 Wardair 1.35 OILS August Petroleum 18 Plains Pete 09 Stampede Intl Res 52 MUTUAL FUNDS All Cdn Compound 4.66 5.07 All Cdn Dividend 4.80 5.22 All Cdn Ventures 218 2 37 Amer Growth Fund 3.44 3 78 A G F Special 1 73 Cdn Invest Fund 378 415 Eaton Comnwlth 1099 Eaton Leverage 2 45 Eaton Intl Venture 4.47 Corp Investors 4 77 5 24 Corp Invest Stock Fund 3 62 3 98 Dreyfus Fund U.S. 7 70 8 44 Grouped In Shares 2 39 Growth Equity 470 516 Invest Growtn Fund 913 9.97 Investors Mutual 4.53 4 95 Mutual Accum 4 90 5 39 Nat Resources 3.48 382 NW Cdn 415 456 NW Growth 341 375 Principal Growth 314 3 45 Royfund 5 05 5 29 Templeton Growth 6.36 6.97 United Accum 3.52 3 87 Universal Savings 648 713 Vanguard 3 87 4 24 Toronto mines, industrials (Supplied by Richardson securities of Canada) MINES Acme Advocate Asb Akaitcho Bralorne Broulan Bethlehem Bovis Brunswick Can. NW Land Canada Tung Cassiar Central Pat Chimo Conwest Cons. Rambler Com Lake Cochenour Craigmont Dickenson Mines Denison Mines D'Eldona Dome Mines Discovery Mines East Malartic East Sullivan Falconbndge Frobex First Mantimes Giant Y K Granduc HoNinger A Hudson Bay A Hydra Ex Iron Bay Iso Joliet Quebec Kerr Addtson Key Anacon Labrador Lake Shore Lang.s Silver Madsen R.L. Malartic G F Martin McNeely Maclntyre Meta Midnm Intern Mogul NuWest Homes New Athona New Calume! Noranda Morthgaie Norlex Pine Point Placer Dev Pax Exp Quebec Man Rio Algom P-ofra." COT Gordon Steeo Sunnmgdale Goto A Unijed Cariso WH Cootwr Mines Wnghl INDUSTRIALS Alco lid) Aqrs Infl Boll Te-l PC BJ- .I Forest Sugar 1 Valley ind Ind Power Foods 1 Cellulose O'Keefe Credit Gas Pfd Ind Marconi Vickers Bathurst Gas Seagrams Bridge Textile Stores Pete Mobile Cdn Oil 8 12' Motors 1 Lakes Paper Oil Sid Walker A Erie Oil A A Nickel Pipe Grp A Int'l Lid Douglas A A Ferg Bloed Corp A B Cent Corp Co 18 fl 77 Scars 1 Can A A GTO A Mir Pipe Can Pine CaTti'CJe Gas 1 O'l 10 06 1037 A 261? 2362 10 4 45 62 o' Dr 1150 18 12''j 1300 850 675 1850 2.50 370 240 435 1.52 8.25 18.25 280 11 50 1300 12.50 26.00 2400 1362'z 27 3250 21 50 875 1400 21 75 2300 215 525 37.12'j 1600 2325 1400 490 3600 1787'? 2625 2100 23 62'i 1212'i 575 987'; 15 12'i 500 215 450 650 265 525 900 1325 2200 3900 163" i 1500 500 900 305 900 11 50 8 12'.- 11 ST.- 600 3 12 2450 1000 33 50 9 37' 11 62 850 1750 7 87 7 460 1700 2025 1675 22 2S 33 DO c York i Supplied bv Richardson Securities of Canada 1 Warfi 1550 2f-i U 2C.S2 119 75 "i" 6? 17 37 20 00 6200 2375 2200 98? Ci'jr. I) 5, Ml r If i f" 1 0 '.7 44 7S ?0 02 JD 03 n "'Al 22 ac 5 "j Kiv Wztt, 66 77 up 15 Oils. 13922 up 245 Marker prices continue slump in TSE trading TORONTO (CP) Prices on the Toronto stock market were sharply lower in moderate midmorning trading todav The industrial index fell 1.56 to 156.46, base metals .19 to 66.12 and western oils 1.14 to 135.63. Golds rose 10.5 to 348.09. Market trends VANCOUVEK (CPi Prices were down in light trading on the Vancouver Stock Ewlunge today first hour volume was 34.100 shaiei, In the industrials. Venture was up 02 to 22 on 1 000 shares In the mines. Consolidated Beaumont was down one cent to 20 on 8.000 ihdres In the oils. Payette was down half a cent to 19 on 1.500 shares, iVo shares were traded on the curb exchange Prices were down at the close Mondaj Volume for the day was 797.174 shares In the industrials, Cornat was down 05 at S3 77 on 2.500 shares, lonarc was off 02 at 43 on 2.000. Canterra was unchanged at 15 on 2.000 Westcorp was unchanged at on 1.000 Venture was up 03 at 25 and Distillers Seagrams was unchanged at 75 In the mines Grandora was down 01 at 25 on 85.500 shares: Northair was up 15 at 69 on 56.400. Barrier Reef was down 02 at 78 on 33.200 Pacific Resources was up 11 at S2 11 on 30.900 Consolidated Beaumont was up 01 at 21 and Colt was unchanged at 37 In the oils. Payette was down "2 at 19'a on 14500 shares. Monterrey A was unchanged at 16 on 7.500, Stampede was down 01 at 53 on 6 500. Rand A was unchanged at 65 on 5.500' Plains Petroleum was unchanged at .09 and Silver Crystal was unchanged at 27 Tptal curb volume traded was 335.983 shares Brewster was unchanged at .20 on shares was up 01'2 at 09 on 22 500 Thor Explorations was up 04 at Si 28 on 15 300 Gentry was unchanged at 12 on 13.500. Remar Resources was unchanged at .06 and Tapm Copper was down 03 at 47 MONTKE'AL wcie generally lower in light trading on the Montreal Stock Exchange today Volume at 11 30 a.m was shares, compared with 173.900 shares at the same time Tuesday Banks led other sectors climbing 3 29 to 211) U7 The composite rose 88 to 163 00 industrials 65 to 167 98, utilities 53 to 118 38 and papers 38 to 100 93 Imperial Oil class 'A fell to 5n. Bank of Nova Scotia li to Jn. Canadian Pacific Ltd to Alcan i (0 '2. MacMilian Bloedel 11 to Bank of Montreal to Dominion Textile to Pan Ocean Oil to J i and TransCanada Pipelines to International Nickel Class "A" rose '-i toS23 'i and Total Petroleum to S65-s Among speculative issues Viking Oil Resources rose 15 cents to 15 on a volume of 4 500 shares lidded. NEW YORK (API The stock market responded to a major New York bank's decision to cut its prime lending rate with a powerful but brief, rally todav The Dow Jones average of 30 in- dustrials, down about 6 points at mid- morning, surged ahead to a gain of 14. then settled back to 663 02. up 8 92 by noon Gainers more than doubled the number of losers on the New York Stock Exchange Uniroyal was the NYSE volume leader, down i at 149.900-share block traded at On the American exchange the market-value index was up 54 at 66 54 Among Canadian issues on the NYSE Canadian Pacific was down '2 Alcan Aluminium Dome Mines was up to Livestock Calgary Chicago markets CALGARY (CPi Receipts to 11 a rn Wednesday from the Calgarv public stockyards totalled i 200 head mostly slaughter steers, heifers and cows Trade was active with good local and eastern demands. Steers sold steady with sales to S48 70 Heifers were barely steady for qualitv Cows met a good demand at prices higher with sales to S26 50 Bulls were steady Steers. Al, 47 to 48 30 Heifers. A1.A2 43 to 44.50. Dl. D2-2350 to 25 D3 22 to 23 50 D4 17 to 22. Bulls. 25 to 28 50 There were insufficient replacements sold early to establish a market Hogs fob to 11 a m 54 70. Good lambs 36 50. Currencies MONTREAL (CP) Wednesday's mid day foreign exchange selling rates supplied by the Bank of Montreal Bermuda dollar 1 01 Denmark kroner 1650 France franc .2100 Germany mark 3780 Italy lira .001545 Japan yen 003385 Mexico peso .0805 Spain peseta 10175 Sweden kroner 2265 Switzerland franc 3365 United States dollar 9870 United Kingdom pound 2 3100 U S S R ruble 1 3021 Quotations in Canadian funds Gold futures WINNIPEG (CP. Gold futures US funds. Winnipeg Commodity Exchange 40ff-OVNCE CONTRACTS: Ocl 74 14735A. Jan 75 15240. Apr 75 .Ily 75 Oct 75 170 20A Monday's volume 131 contracts 100-OINCE CONTRACTS: Nov 74-148 10B Fob 75 153 SOB May 75 160 SOB Auc 75 166 40B. N'm 75 171 10A "s volume 39 contracts Earnings THK CANAMM PRESS Canadian Enlrrprisc Corp. Lid., jcar ended Dec 31 1974. S10', no figure 1973 ?244 >KKI. no per ficiire Cammonucallh of Canada I.ld nine months ended 1SCTL Sl.flS2.700, 21 the Alberta Hog Producers Marketing Board Tuesdj> prices in brackets Edmonton 54 50 57 131 Calgar. 5470 '57 14. Red Deer 5490 57111 Lcthbndgc Nil 56 041 Kort Macleod Nil Wheat board domestic feed eram pnres red sprin" wheat 3 75 No 1 feed oats SB1: No 1 feed barley 277'j Beef futures WINNIPEG 3 71 15 U1 1 63 37 up 1 tA Voci- 204 up 3 70 7SC, 5. Hi lull !1 1H74 million M ''.T I Dividends j-iii.fil Of if 1 1-1 rlr.Tl'ni 'IIT'I rri