Winnipeg Free Press

Winnipeg Free Press (Newspaper) - June 10, 1967, Winnipeg, Manitoba Winnipeg free press saturday june 10, 1967 17 125 Laid off As steel Centre opens in Selkirk the newest steel production Centre in Western Canada officially opened Friday with 125 of the 600 men in the work Force Laid off. The Manitoba rolling Mills a division of the Dominion Bridge company has already begun production in Selkirk with it s million installations which in clude two 40-ton capacity elec tric furnaces a spectrometer which analyses steel samples by optical electronics and a continuous steel casting Assembly which enables the steel to be cast in one Long continuous strand. During the past six months steel experts from around the world have visted Selkirk to study the operation first hand. Company officials describe the operation As the most modern of its kind in the world but with the rapid technological advances in the steel Indus try expect others soon to match their efforts. Mackenzie Mcmurray presi Dent of Dominion Bridge com Pany said thursday in a press conference at the fort Garry hotel the old equipment at the Mill was becoming tired. Through this new process we should be Able to produce our products at less Cost. In the Cost Price squeeze we have to bring Cost of production Down because the Price can t go he said. By combining the electric furnaces and the continuous casting process the company Hopes to produce a broader Range of products and maintain a More rigid Quality control. Efficiency will also increase with the elimination of the costly equipment associated with the older open Hearth furnaces. Although the initial change Over will result in 125 men being Laid off or. Mcmurray said the company had Little difficulty with the Union. In the Long run it will result in increased employment work ing in co operation with the Union and the provincial govern ment we have attempted to find new jobs for these men in other industries. We have also worked on re training programs for these he said. The Plant produces steel by melting Down scrap metals including a limited number of used cars. But they prefer to use better grades of scrap Metal. Asked Why the company did t use Iron pellets and other natural materials instead of scrap or. Mcmurray said it is simply a question of economics. Now that the difference in Price Between scrap and pellets is narrowing we May use More of the pellets but they would serve Only As a supplement to the the Mill annually produces tons of finished steel products mainly for Market in Western Canada with a Small Market in the East. These products include rein forcing bars for All types of Concrete structures special sections used in building construction and agricultural equipment steel shapes for the railway Industry and steel for manufacture of bolts and pole line hardware. With the new furnaces production May expand to 160.000 tons annually. The electric furnaces becom ing increasingly popular in the steel making Industry reduce installation Cost by at least 40 per cent of an equivalent capacity open Hearth Furnace. The More efficient and uni form heat production provided requires fewer men reducing operating costs As Well As increasing the Speed of the melting operation. The electric furnaces which produce a wider variety of products can operate economically at a wider Range of capacity thus allowing com plete Freedom in selection of the raw materials. When operating the two fur auces use As much electric Power in one hour As the average Home uses in two and a half years and the total heat Energy contained in the molten steel would heat More than 700 average size Homes for a full year. To keep a constant Check on the Quality of the steel the Mill uses a spectrometer which analyses steel samples for concentration of 15 different ele ments simultaneously. The Tal analysis requires seven minutes. Because of the delicate instrumentation it must be located in an atmospherically controlled chamber. A continuous curved Mould casting process is the final major change at present. Be cause of its curved shape this Mould allows a Cut in building height of up to 50 per cent plus a reduction in installation costs. Even with this the new melt shop is 102 feet High. After the molten steel enters the Mould it goes Cooling zone where a series of roller aprons guide the steel strand downwards to a straightening role system. Here it is straightened and properly aligned before entering a series of synchronized Hydraulic shears which Cut it to the desired length. Construction on the project began in 1965, with the actual operation of the new facilities beginning gradually last nov Ember. Bonds Montreal Richardson securities Friday june 9, 1967 last Price Asbestos corp aluminium pad Anglo can pulp Anglo can Tel pad. B a Bank note. 70 bin Bronco 385 c a e can. Bronze can int Power 36 cog Lin b j Consumers Glass t3% Crown Cork Seal .111 Crown Zellerbach a 18% c Dom sugar 23% Donahue Bros 8 dist Seagram 383fe Dom Bridge. Dupont of Canada Dom textiles. 30 a Fraser. 22% Gatineau Power Handy Andy. Hudson s Bay co 18 a int paper 32% Mcallister 8% Montreal Loc 15% Robert Mitchell a. 10 Molson b 23% Molson a 23% Ogilvie Jamaica pub serv 15 que Nat Gas fld l p 9 Holland a by Shawinigan 734 Sog Emines Ltd 13 Southam. 44 Sicard pad Steinberg s a Steinberg s pad Walker g i w 3344 Zellers 26% Canadian Stock Exchange Belding Corticelli 9% and Kodak .120 Catelli a 261 98 Chenalloy foreign Row sees 13 90 gwm int helium int paints. Ism Melchers 21 pad new spartan air 81 shop save 13 Toronto changes for Friday june 9, provided by the in vestment dealers association of can Ada bid ask corporation Abi Tibi 6-4, 1977 96% 99% Alta Gas 5 4. 1981 87% 9cv2 Algoma March 1, 1979 92 Alroma sleep 5 i 1978 87% 90% Allrn. Co 1973 90% 9i% Anglo 6 .2, 1986 95v2 Bath. Power 4, 1983 89 93% bail Tei. 1982 88% 91% bail Tel. A 1982 90v2 93% Bowater 334, 1980 74% Braz. Tract 4h, 1970 95 98% a Oil 5vb, 1977 86% 89% by nov. 1, 1983 84% by Moi sex 53i, 1976 91 i4 by moly gum 1974 108% can. Cement 514, 1976 87% can. Breweries 5, 1983 83% 84% can. By. A. A 1980 93% can. Chemical 7, 19bo 97% 100 a pm. Ind. 1977 91% 94% car 5, 1983 84% 87% can. West. Gas 1983 85% 88% con. Gas 5. 1978 66% 89 Dominion 1976 89% Dom. A 1978 65% 88% Dryden paper 1973 87% eaten acc 1981 90% 93 Eddy 4, 1974 63 pm acc. 7, 1976 99% 1mv4 pm acc. 1977 95% 98 pm acc. 7, 1986 100% 1cc% or. Lakes paper 5, 1976 86% 89% or. Lakes Power 1975 83% 86% or. Mpg dec. 87 he Oil 4, May 1975 82% 85% husky Oil i 1984 86% Irold. Oil 3, 196v 92% 54% i a 87 50 inc 19s4 99% 02% in and Gas 6 a 1983 94% 97% june 16-87 89 jockey club 6, 1980 92 Lakeland Gas 6, 1 982 85 88 Loblaw a 1981 91% Macmillan i. S3.a, 1978 89v2 92% Homo it i9bj 87% new will. 1983 85% 88% Quebec Gas 1985 82% 8jvj Rio alg. Apr. 1, 1983 86% 89% Lawrence 5. 1978 86% 89% Shell Oil 1976 85% 88% Shell Oil 1977 95% 98% Silver was ids 1984 95 98 Simps. Sears a. 1981 87% 90% Simpsons a. 1986 96% 99% Tor. Star 1978 89va 92% to. Can. Pipe 5.85, 1987 88v3 91% Trad. Fin. 1981 78% 82% Union Gas 1981 91% 94% West. To. 88 a 89% 92% g. 1982 84% 87 a convertible can. Util j977 138 Feo. Farms 7, 1976 84% 95% Home oils 1984 109v2 112vj Simpsons sep. 15, 79 119 124 Wes c. To. 88 a 98% 101 a Scurry r. 6 a dec. 15, 84 125 135 to. Can. . 5, dec. 1989 98% government Canada 1 oct. 1967 99.88 99.93 4v4 15 Jan. 1968 99.70 99.80 15 june 97.75 9785 5 15 oct. 1988 99.70 59.80 5% 1 apr. 69-65 series 100.60 100.70 5 1 july 1969 99.75, a i oct. 1969 100.75 set 1 dec. 1970 100.75 101.25 5 1 june 1971 97.25 78.00 1 sept. 1972 92.50 93 to s 1 oct. 1973 95.25 96.00 5% 1 oct. 75 new 97.00 97.50 5% 1 apr 1976 97.00 97.50 15 Jan. 75-78 82.50 83.50 1 aug. I960 97.00 97.75 3% 1 sept. 1983 85.75 86.50 1 May 1990 91.00 93.75 1 sept. 1992 99.00 99.75 government guaranteed car 5 15 May 1968 99.75 100.00 5d 5 dec. 1971 98.25 99.25 5 15 Mey 1977 94.00 95.00 car 5 i 1 Jan. 1985 9b.oo 99.00 Australia 15 apr. 1981 97.00 99.00 International Bank 5v4 15 mar 1990 88.00 90.00 5% 15 mar. 199i 9z.oo 94.00 prov. And prov. Guaranteed ont. 5 1 dec. 1968 99.00 100.00 ont 6 15 nov. 77-79 98.00 99.00 ont. 1 mar. 82-84 95.00 ont. 3 15 Jan. 48 98.25 98.75 ont. By 5v1 15 july 70 97.75 98.75 ont. By 5 1 apr. 74-77 91.00 92.00 ont. By 15 feb. 79-81 92.50 93.50 of by 4 5 july 1988 94.25 97.25 no 4v2 15 oct. 48-71 92.00 93.00 no 5% 15 sept. 1988 87.00 88.00 is 1 dec. 75-77. 87.25 88.25 is 1 May 1963-85 87.50 88.50 Quebec 4% 15 Jan. 74-77 86.co 87.00 Quebec 5% 1 apr. 87-90 85.25 86.25 Quebec 6 15 oct. 1988 91.25 92.25 Quebec 15 oct. 1990 88.00 88.50 que. By 5v 15 june 86-68 86.00 87.00 qua by 5 15 feb. 1995 78.00 79.00 Alt. Gov. Tel 6 15 aug. 91 94.00 95.00 Man. 5% 1 june 74-79 92.00 93.00 Man. By 1 oct. 83-84 97.00 98.00 sask. 1 oct. 82-84 97.25 new. 1 sept. 1989 94.50 95.58 by elec 4% 1 apr. 1990 98.00 100.00 finance John Meyer says Speed of Market s recovery misleading of its strength the fall in the Stock Market to the extent experienced on monday would have been followed by a Rise even without the Over night news of the israeli successes. The Market at its lowest level was off 20 Points More than enough to bring in bargain hungry institutions from the sidelines. Their initial buying halted the fall and recovered five Points Early in the after noon. The intensified volume in the following session was largely emotional in inspiration although the institutions were still picking up bar gains. The recovery in London was nipped by the news that the Suez had been closed and two Arab suppliers had imposed embargoes on Oil deliveries. Neither of these developments could have come As a Surprise. They re futile gestures at this stage damaging equally to the arabs and their customers. It is Clear that the conflict will be contained in the Middle East. The Best Prospect now is for a return to the uneasy truce that existed after the Suez crisis but with one difference Nasser will no longer have the command ing influence be exerted the last 10 years. The Market s capacity for recovery could be mislead ing in these circumstances. There is persuasive talk of a summer rally from the More realistic base of 836 840 on the Dow Jones Industrial average. This is where Selling was halted in february and again in april. A rally might develop on the strength of an accept Able Resolution of the Middle East conflict but the Odds seem against it. The Market was somewhat shaky before the conflict and the cause for that shakiness will still be there after it is Over. Some part of it originates in having Over estimated the strength of the renewed business expansion follow ing the severity of the squeeze on credit during the fall. Inventories seem not to be As worrisome As they were earlier but rising costs Are trimming expectations of earnings. The threat of a six per cent surcharge on income is another dampening in fluence As is the cause for the surcharge the expectation of a much heavier deficit than had earlier been indicated. The Early return to High interest rates has been discouraging too. These same conditions apply to the Canadian mar Ket with the exception of Canadian oils. The strength of the inter est in them however is predicated on the duration of the Suez closing and embargoes on Oil deliveries. We shall undoubtedly have a busier second half but hardly a More profitable one. The budget spared us an increase in taxes but with taxes already so High this is a doubtful advantage in the Market. The increase in the deficit and the already severe pressure on the capital Market Are comparable to those in the United states. The Canadian Stock mar Ket is subject to the additional Burden of uncertainty Over the Carter report. It also labors in the Shadow of its More vigorous neighbor. Enough of the investment Power normally available to the Canadian Market has been diverted to the Ameri can to substantially reduce volumes Here. Except in mining and Oil stocks there is no longer that capacity to generate the excitement which a Market must have if it is to keep on attracting new funds. York is where the action is and that s where the Money is going. That interest in new York is strengthened by a grow ing concern for the future of the Canadian Dollar. The latest Trade figures Haven t done anything to relieve it. In spite of a 17.2 per cent increase in exports the surplus in Trade is Only million More than last year at million. The deficit in april trim med million from the . Telephone pref. 1956 series pref. 5.15 per cent pref. July 15, record june 30 6-per-cent per cent August 1, record july 17 Ordinary 65 cents in crease of scents pref. 4.84-per-cent pref. Cents july 1, record june 16. Four month figures and it looks like May could have had a deficit too. The million increase in reserves during that month must be largely attributable to the it s your business improvement in the tourism account. When All these considerations Are taken into account the Prospect for a summer rally seems Bleak indeed. A faster rate of expansion into next year is widely anticipated in both Canada and the United states but this is meaningless to the Market unless accompanied by a corresponding improvement in earnings. Having Over discounted first half earnings the natural tendency will be to under discount the last half. An autumn rally looks like a better bet. Or. Meyer is financial editor of the Montreal Gazette. His column appears Remi Baxly in the free press. I produce Richardson securities Friday june 9, 1967 industrials Allied farm i 7w who male Friday june 9, 1967 Allied fail lid. Potatoes local my. 75 Obj. 2.00 cabbage new Texas 3.25 Green on Loni Doz. Cal. 1.10 cooking onions 3.so lettuce calif., 2 Doz. 5.73 peppers .30 tomatoes 30 ibs. Vint 4.50 radishes cello Doz. 1.10 commission House prices non-tenderablc.62 eggs Price paid to producers for graded eggs delivered Winnipeg cases in eluded As reported by . Notes Len Ltd. Grade a Large.28 Grade a medium .21 Grade a Small .15 b average wholesale to refill car toned Price . Winnipeg As reported by the Canada def. Of Agri culture june i. Grade a Large. 36.1 Grade a medium 31.2 Grade a Small 25.1 poultry prices delivered mpg. Live no. 1 of producers. Chicken broilers if .20 fowl under 4v4 ibs. .05 Chicken 4-Svi -.17 Chicken Over at .19 -.11 to avoid upsetting anyone expo has avoided naming any of its streets after National heroes. Cattle a a 111 e of Canada s 10 Public stockyards this week were head Down about from the previous week and fewer than a year exports of beef cattle to the last week were slightly higher at 238 head. To Date this year exports total in the corresponding period last year. The Slaughter cattle Market was uneven in prices and demand. Steers heifers and cows varied from 50 cents higher to lower. Bulls were generally steady to 75 cents higher. Feeder cattle met keen demand at prices mainly steady to higher. Veal calves were steady to higher. Hog prices had Only minor fluctuations. Lambs varied from 50 cents higher to slightly lower. Choice steers Montreal 28 29.25 Toronto 28-29 Winnipeg 26.50-27.50 Saskatoon 25.50 26.75 Edmonton 25. 50-26-20 Calgary 25.75-27.10. Good heifers Montreal 22.25 26.25 Toronto 25-26 Winnipeg Saskatoon 23-23.75 Edmonton 23-24 Calgary 23.-24.50. Good cows Montreal 21-23.25 Toronto 21.50-22.50 Winni Peg 22.50-23.50 Saskatoon 20.75-21.75 Edmonton 19.50-21.50 Calgary 20-21.40. Bulls Montreal 15-25 Toronto 21-25 Winnipeg 20-24 Saskatoon 19.50-21.50 Edmonton 20-23.80 Calgary 20-22.60. Good feeder steers Toronto 28-31 Winnipeg Saskatoon 24.75-28.50 Edmonton 24.50-29 Calgary 25.28. Good and Choice Veat calves Montreal 3337 Toronto 36-42 Winnipeg 40.43 Saskatoon 31 37.25 Good lambs Toronto 35-43 Winnipeg 31 Edmonton 25 25.50 Calgary 26.20. Grades a hogs Montreal 31 32 Toronto Winnipeg 29.66-31.75 Saskatoon 29.10 30.65 Edmonton 28.10-28.60 Calgary 28.59-29. Helsinki farming is the business of one fourth of Fin land s population though Only half the land is in farms and less than 10 per cent of the total area is actually used for crops and livestock. Cattle raising is the chief agricultural Pursuit. Daily store hours . To 6 . Monday thursday . To . Dial Sunset 3-2112 All departments. Out of town shoppers ask for Zenith 5-5000 toll free. Personal shopping Only no phone mail . A no deliveries. Perma press dress and sport shirts by Milord special resin finish Means no ironing Ever buy now for father s Day Reg 4.97 spec. Ea., spec. 3 for shop monday just what dad has been hinting for Short sleeve shirts that go everywhere this summer and always look just pressed too that s because they re made of 65% Cotton the fabric that keeps its built in freshness even after you be washed it countless times your Choice of White striped or pastel dress shirts and Plain or checked sport shirts in Button Down or regular Collar styles. 17vz. See these famous Milord shirts for yourself take advantage of this exceptional value buy 3 and save even More Rte. . Men s Bey element. Lower in Thi Bay basement v ;