Lethbridge Herald, The (Newspaper) - August 18, 1973, Lethbridge, Alberta
Commodity market records broken By H. J. MAIDENBERG New York Times Service NEW YORK These are lays of growing fear in the na- jon's commodity markets. The 'ear is not of falling prices or ilow trading volume. And it ias been many years since a brokerage house las failed. commodity is shattering records svery day. No. The reason for the fear nay be summed up in two Federal control. And it s a valid fear because Con- gress is again questioning the ittle known world of com- modity trading. For Frederick G. diairman of the Chicago Board rf the marketplace for about half the commodities the fear is very real. controls on trading would be a he said n an interview the other day. controls not only would Recall buses Ont. Gen- eral motors of Canada has noti- fied owners of 868 buses deliv- sred in 1963 to replace a power steering bracket or clamping Dolt that could result in a loss Of steering control. No failures have been re- ported in the 209 inter-city high- way buses and the 659 city tran- sit buses sold to different com- panies across GM said Friday. The city transit buses were manufactured at GM's plant and the inter-city buses were made in the United States. A total of S.706 buses are in volved in the United States. LITTLE WATER Water holes in the Sahara desert are often more than 100 Biles apart. put us out of business but also would destroy the marketing But what about the rocketing prices of foodstuffs and basic industrial raw materials that have provoked the current con- gressional inquiries into that marketing not against all con- Uhlmann replied. there are times when export for are nec- essary in the national such as in times of war or se- vere domestic shortages. some members of the Board of Trade may shoot me for saying but I also favor putting all commodities trad- ing under federal not just the grains and other domestic crops as is the case I have participated in government studies aimed at broadening the regulatory umbrella over all trading. What disturbs me is the much of it about setting up a sort of Canadian- type wheat board. don't believe that sort of thing would work here. In a the only way to stop runaway prices is to create supplies. The demand supply system works. A wheat or any other board would not stimu- late production. It would serve to discourage Under the Canadian the government sets wheat prices to pay farmers and al- locates domestic and export supplies. Left unsaid was the fact that Canadian grain exchanges do not trade in wheat for future delivery. Since the members the Chicago Board of Trade are a highly individual- istic and vocal group that re- gards any mention of the Ca- nadian Wheat Board or Fed- eral controls as the dirtiest words in the UhV mann's words were carefully chosen. REGULAR CATTLE SALE EVERY MONDAY AT 11 A.M. CHANGING SALE SCHEDULE Effective September 19 we will be assembling butcher hogs for the marketing board on Wednesdays. Also we will be selling weaner and feeder hogs and baby calves on Wednesday at T p.m. REGULAR CATTLE SALES CONTINUE ON MONDAYS Don't bo content to accept one offer of consign your livestock to where you are guaranteed to have the Auction Ring full of Buyers to bid on your product. PRAIRIE LIVESTOCK LTD. PHONE TABER DAY OR NIGHT JOHNNY CHARLTON Lie. 293 Sales Manager GARY JENSEN THE STOCKMEN'S MARKET 300 to 500 HOGS SELL at 1 p.m. ALSO -DAIRY COWS -BABY CALVES -SHEEP Market Hogs Shipped Daily YEARLING FEEDER AND FAT CATTLE AND CALVES Thursday 1 p.m. 1000 HEAD Highlight 200 grait yearling steers from one 7S yearling from one 100 grass yearling iteeri from one 200 fat cattle. PERLICH BROS. AUCTION MARKET LTD. located In the Hub of Southern Alberta's Livestock Industry 3 miles east of Lethbridge on Highway 3 and Vt mile south BOX LETHBRIDGE PHONE DAY OR NIGHT 328-3951 Weekly livestock report Macleod Livestock FORT MACLEOD On offer at Fort Macleod Auction Mar- ket this week were 777 head of cattle and calves. Due to the livestock embargo levied by the federal govern- ment on Monday the market opened with a consider- able amount of uncertainty. Fat steers and heifers sold to lower than last week. were down to so the bulk of the cows went back to feeder orders. This lower fat trend reflect- ed directly on short keep feed- er cattle with greener kinds meeting with good demand. Choice steers 50 to a few medium steers 48.75 to 49.50. Insufficient receipts of fat heifers Holstein steers to quote an accurate market. Bologna bulls 40 to 43. Good short keep feeder steers to 50 to Holstein steers to 44 to good green yearling steers to 750 58 to 62.50. Heavy feeder heifers to 600 47 to with green kinds in the same weight range to 54.10. Good ranch quality cow-calf pairs to 585 with older culls selling down to 400. Approximately 200 head of dry cows sold to feeder orders from 34 to with heif- kinds to canners and cutters 27.50 to 33. Perlich Auction There were 1005 head of live- stock sold this week at Perlich Bros. Auction Market Ltd. Re- ceipts included 433 cattle and 572 hogs. Cattle market strong active. Most feeder cattle trading close to last week's pric- es considering quality. A steady to strong market is an- ticipated for next week's trade. Price quotations as SLAUGHTER CATTLE Al and A2 steers 50 to Al and A2 heifers none on Dl and D2 cows 40 to D4 cows 36 to Bologna bulls 46 to 47.25. REPLACEMENT CATTLE Steer calves 250 to 400 Ibs. 65 to 400 to 500 Ibs. 63 to Holstein steer calves 600 Ib. average 54 to Feeder steers un- der 800 Ibs. 56 to over 800 Ibs none on Hol- stein shortkeep steers 49 to Heifer calves to 400 Ibs. 63 to 400 to 500 ESTATE AUCTION SALE August 20th p.m. at HURIBURT AUCTION WAREHOUSE 1920-2nd AVE. LETHBRIDGE TERMS CASH NO RESERVE Having received instructions from the executors we will sell the Lovely 3-pc. sectional nice older darkwood bedroom suite with complete dresser and dressing good blond bedroom suite with complete triple dresser and chest of smaJL older china dark brown chrome table and 4 older Beckwith upright Moffat gas aluminum step electric Westdnghcuse auto- matic RCA Whirlpool folding picnic card table. lawn pole garden belt bathroom occasional Singer portable sewing TV electric garden chrome pots and walker. Many more items too numerous to mention. May Be Viewed AUG. 19th 2-4 P.M. AUG. 20th 8 A.M. TILL SALE TIME FOR FURTHER INFORMATION HURLBURT AUCTION SERVICE LTD. PHONE 326-4705 1920 2nd AVE. S. LETHBRIDGE AUCTIONEERS TED NEWBY KEITH ERDMANN Lie. 41 Lie. 458 Ibs. None on Feeder heifers 50 to Feeder coivs 37 to 42. HOGS DAIRY CATTLE Market hogs dressed weight 66.55 to Good weaners 20 to Light weaners 14 to Feeders under 100 Ibs. 31 to over 100 Ibs. 47 Bred sows and gilts to baby calves 100 to light calves 125 to 230. Quebec plans minimum wage hike QUEBEC The Quebec government plans to increase the minimum hourly wage in three stages beginning in No- vember. Labor Minister Jean Courno- yer announced Thursday the minimum wage in the province will increase to an hour ef- fective in to next May and by 1974. The minimum wage at present is an hour. The minister also announced that Quebec's welfare recipients will receive a tem- porary five-per-cent increase in their monthly allowances effec- tive Oct. 1. The increases mean a single person on welfare will receive a up from wnile a married couple will get between and rather than to Mr. Castonguay said the In- which will last until the end of the will cost the Quebec government an ad- ditional to millioD. The rate of extra payments for housing and special as well as pension will not be Mr. Casto- nguay said. The increases will be effec- tive only until the end of the year because Quebec and the federal government are nego- tiating an overhaul of the social security system to be imple- mented in he said. The monthly welfare released said the number of welfare recipients in the province decreased by about between May 1972 and May 1973. The report at- tributed the decline to an in- crease in the employment rate for that period. PICTURE BUTTE AUCTION MARKET Ideally located in the centre of a large cattle Feeding and Hog Railing Country Services Available FEEDER CALF AND FAT CATTLE AUG. 22 500 HEAD ALL CLASSES Of CATTLE if Trucking Branding Vaccinating if Order Buying if Government Veterinary if Feeding Pens HOG and DAIRY CATTLE SALE every Saturday at 1 p.m. MARKET HOGS ASSEMBLED MONDAY THRU FRIDAY For Information and llstingi contact JIM or JOE JURIS 7334400 Picture Butte Auction Market Picture Alta. Pieturt Busy exchange The Winnipeg Commod- ity Exchange is a busy place these days- with a wild and wooly trade in grain futures. Richardson stops quotations on telephone VANCOUVER Rich- ardson Securities of one of the few brokerage houses here to provide tele- phone has dropped that service to the public. A spokesman said the move was a cost cutting The firm also said clients woiild be better advised to talk to the salesman handling their accounts. E. C. president of C. M. Oliver and said that are not thinking of drop- ping out telephone quotation Merrill Royal Securi- ties Ltd. offers quotations a but will discourage said John T. resident manager. Several brokers said the prin- cipal disadvantage in providing such service is that many re- quests are from persons who are not clients. SUBWAY REJECTED Switzerland Zurich votes rejected a pro- posal that the bus and tram system be replaced by a siro- way at a cost of million. Grain price review Winnipeg grain WINNIPEG Prices moved over a broad range in most commodities Friday on the Winnipeg Commodity Ex- with most prices lower at the close. Flax traded fairly actively' but moved higher to close up the newly established trading limit of 60 cents. Rapeseed prices moved er- and were mixed. Oats prices moved while barley was mixed and mostly higher. Rye closed down its 10-cent trading limit in most months. Thursday's volume of trade was bushels of rapeseed and of rye. Attendance record of MPs better HAMILTON Mem- bers of Parliament should give themselves a pat on the back for their recent good at- tendance in the House of says a man who notices such things. Dr. Roman a McMaster University polttJc-al science professor who takes a nose count now and then of the sitting noted that during the recently-con- cluded session there was an 88-per-cent attendance for the 36 recorded votes during the 132 days of sittings. Dr. March said the count is a drastic improvement over the showing the mem- bers made in 1971. That time he only 62 per cent of all parliamentarians were present for the 98 recorded votes during 163 days of sit- tings. The reason for the better turn of believe that the sound thrashing the MPs received in 1971 from the press and later the people has had an in- vigorating effect on Dr. March said. High Low Close Flax Oct 1189 1175 1189 Nov 1158 1150 1158 Dec 1144 1139 1144 May 1145 1130 1145 Rafcseed Vancouver Sep 728 696 703 Nov 730 702 710 Jan 722 699 713 Mar 720 700 Rapeseed Thunder Bay Oct 701 690 Nov 677 673 677 Dec 645 640 645 May 645 640 645 May 655 Oats Oct Dec 165 159V4 165 May Jly 165 Barley Oct 258 238 249 Dec 239 250 May 251 239 242 Jly 240 Rye Oct 2-88 Dec May 299 295 295 305 Grain quotes CHICAGO Grain Quo- tations Sep Dec Mar May Jul 3.67. Sep Dec Mar May Jul 2.93. Sep Dec Mar May Jul 1.43. Gold futures WINNIPEG Gold fu- U.S. Winnipeg Commodity Exchange close Friday. Oct 73 Jan 74 Apr 74 Jly 74 Oct 74 117.50B. Thursday's EG con- tracts. Beef Futures WINNIPEG beef futures close Friday. Sep Nov Jan Mar 52.00B. Thursday's No con- tracts. 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