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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 1, 1973, Lethbridge, Alberta Investors switch off paper-money stocks By SANDHA INGALSBE Canadian Press Staff Writer Investors took advantage of a gold lining in the cloud over stock markets this but several rally attempts in other sectors fizzrld guicitl.v Prices slumped across a broad continuing a trend set during the last lour weeks. The Toronto gold index rose almost 19 points Wednesday as the price of bullion jumped a record an ounce on the London Metals Exchange. Analysts attributed the rise to uncer- tainty over economic future of many countries as a result of Arab oil cutbacks. Worried investors rushed to switch from paper slocks and bonds into tangible com- modities. The index closed at an all-time high Wednesday of 329.57. surpassing the previous record of 327.00 July 6. Gains in the last two sessions pushed it to yet another high of 339.31. up 42.02 on the week. Gold prices LONDON Closing gold prices in U.S. dollars an London 101.50 Paris 103.83 Frankfurt 100.91 Zurich 102.50 Hong Kong 102.97 Beirut a kilo Gold futures WINNIPEG Gold U.S. Winnipeg Commodity Ex- change close Friday. Jan 74 Apr 74 Jly 74 Oct 74 Jan 75 114.40A. Thursday's 239 contracts. Other metal prices also touched highs on commodity but investors avoided stocks of producers. The Toronto base metal index was off 5.61 to 93.79. RATES INCREASE The energy shortage persisted as the dominant influence and. by the end or the new tension in the Middle East and a return to higher interest rates by some U.S. banks plagued the market. The Dow Jones average of 30 in- dustrials fell 29.45 points its largest drop in 11 years. Toronto's in- dustrial considered the major gauge of market lost 5.47 the largest since 1970. On the the Toronto industrial index was off 8.95 to the Dow Jones average 31.76 to 822.24 and the Montreal and Canadian exchanges' composite index 8.27 to 222.02. The Toronto western oils index fell .17 to 267.87. While Canadian markets have declined in response to New losses have not been quite so severe. The Dow Jones average closed Fri- day at its lowest level since Nov. 26. 1971. and was down about 165 points since Oct. 26. generally regarded as the date the six-week fall rally ended. SHARP LOSS The Toronto industrial index was declined about 25 points during the same period to its lowest point this week since July 10. The index is still above its 1973 low of 201.47 recorded May 22. Analysts agree that the reaction of Wall Street to the continuing energy problem will be the main influence on Canadian markets but disagree on what course New York will take. While some observers say markets have over-reacted and should correct themselves others say there are still too many uncertainties and the possibility of a recession is real. Trading wasactive with 14.59 million shares changing hands at Toronto for a value of million compared with 13.10 million and million. THE STOCKMEN'S MARKET CANADIAN PINZGAUER ASSOC. SALE MEETING TOURS Sunday and Dec. 2 and 3 Sale-Monday at p.m. 100-V2 Blood Heifer Calves with Dams S 10-V2 Blood Bull Calves with Dams 100-Cows Bred Pinzgauer 300 to 500 HOGS SELL at 1 p.m. ALSO -DAIRY COWS CALVES Market Hogs Shipped Daily I Live Weight and Dressed Baals I Special Rancher Calf Sale Wed.Dec.5tli-lp.m. 1000 HEAD YEARLING FEEDER AND FAT CATTLE and CALVES Thursday 1 P.IL 800 WESTERN RANCHERS STOCK COW SALE Dec. p.m. Expecting 700 Head This sale will include 26 HEAD from NICK DONICK Registerd Herefords Selling at p.m. 14 Bred 2 Year Old Here- ford bred to 38D AA Britisher Standard. 12 Bred 3-7 years old bred to GU Britisher Domino 4A. CHAROLAIS OPPORTUNITY SALE Won.. Dec. 10th -1 p.m. 96 CHAROLAIS 71 Bred Charolala Heifers Sired by Baccarat 62555 end All Brad to Bingo FMC 52 Consigned by Big Sky Lend and Cattle Ltd. Plui 25 head of Pure- brad and Percentage Charolalt from Ray Jorgenson. CHIEF VIEW FARMS COMPUTE DAIRY MSPBfSKM Dec. 17th -11a.m. 115 DAIRY CATTLE Including 15 Registered Brown Swiss with Papers 72 Holstelns 21 Ayrshire Guernsey Jersey Owners K J Folsom Hillspring Phone 626-3368 PERLICH BROS. AUCTION MARKET LTD. Located in the Hub of Southern Alberta's Livestock Industry 3 miles eaat of Lethbrldge on Highway 3 and mile south BOX LETHBRIDGE Phono Day or Night 329-3101 PLEASE NOTE NEW PHONE NUMBER 329-3101 Company LIcoriM No. 071465 OEPEHLICH BOBBALOO TONY PBHLICH LIC. LIC. 010293 LIC. M74M On the Montreal and Canadian ex- combined volume was 5.08 million shares compared with 5.16 million and value was million compared with million last week. Winnipeg grain WINNIPEG Rapeseed and rye prices drifted and other grain futures were virtually unchang- ed in dull trade Friday on the Win- nipeg Commodity Exchange. Rapeseed declined nine or 10 cents in most months after standing still most ol the session. Flax was and barley were unchanged and rye was slightly lower. Flax closed four cents higher to five rapeseed one lower to 10 oats barley un- and rye to lower. Thursday's volume of trade was 15.000 bushels of ot of of flax and of rapeseed. Thunder Bay export wheat prices were all up Vt cents. Grain quotes Hiuh Low The Herald- Business Chicago markets Dec 1112 1103 May 988 975 Jly Oct Kuucswd Vancouver Nov Jan 581'A Mar 578Vi 560 Jun 569 555 Itapcsced Thunder Buy Dec 521 505 May 520 Jly Oct Dec May Jly Barley Dec May Jly Dec May Jly 273 279 1110 983 970 883 578 578 563 521 532 501 Vz 157 156 157V4 240 230 277 Lobster prices high Daniel and his 15-year-old son Danny took 750 pounds of lobsters from their 50 traps off the coast of Maine this year. But although the selling price of a pound is far above what it used to Rich must hold down other jobs to make a living. He is also harbormaster and fire chief in the tiny village of Me. Ottawa Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Dominion Glass Co. seven per cent pfd.. 17V2 cents. Jan. 15. record Dec. 14. Gordon MacKay Stores Class cents. Dec. record Dec. 6. Harlequin Enterprises 15 an increase of five cents. Jan. 7. record Dec. 14. Monarch Investments cents. Dec. 28. record Dec. 17. National Grocers 37'.4 cents. Jan. 1. record Dec. 7. Neonex International 2Vz semi-annual. Jan. record Dec. 14. Pato Consolidated Gold Dredging 10 interim. Jan record Dec. 14. Phillips Cables cents. Jan. 1. record Dec. plus an extra of Dec. 31. record Dec. 18. Sobeys Stores Class A. 10 Jan. 15. record Dec. 28. Texaco Canada four per cent Jan. 20. record Dec. 31. United Wcstburnc Industries B'.j per cent pfd.. cents. Jan. 1. record Dec. 14. 6 86 SUGGESTED RETAIL PRICE FOR OTTAWA The number of slaughter cattle and calves offered at the 10 public stockyards this week declined head to 18.500. Toronto reported prices dropping at mid-week for A-2 steers and heifers. Prices at western markets were steady to slightly lower because of market uncertainty as the federal decision on the 30-day import surtax drew closer. Toronto prices for D-1 and D-2 cows also dropped at mid-week while western prices were about 50 cents to higher. Edmonton was the reporting prices down Veal prices held steady in all centres while smaller supplies of feeder cattle and calves down 000 head lo pushed up prices in Toronto. Trading in western centres generally was active with prices except in Saskatoon and Ed- monton where prices dropped under moderate trading. Sheep and lamb receipts declined almost head to Lamb prices were up to S2 in Toronto and steady in western centres. Index 100 hogs sold 39'to 75 cents higher in Toronto this week. I'HICKS Slaughter steers A-1 and A- Calgary Edmonton Saskatoon Winnipeg Toronto 44-46. A-1 and Calgary Edmonton Saska- toon Winnipeg Toronto 43-44.50. D-1. and D-2 Calgary Edmonton Saskatoon Winnipeg Toronto 33-34. Slaughter good and choice Edmonton Toronto 55- Montreal 65-74. Feeder steers over 750 Calgary Edmonton REGULAR CATTLE SALE EVERY MONDAY 1H.M. DecTsth a.m. 8OO TO HEAD TOP QUALITY RANCH CALVES HOG SALES every WEDNESDAY We will be assembling Market Hogs for the Marketing Board and sell Weaner and Feeder Hoflsart NO HOGS WILL MONDAYS REGULAR CATTLE SALES WILL CONTINUE EVERY MONDAY Due to the tremendous response to our Special Sales through the heavy fall runa In the at Prairie Live- stock Ltd. have set the following dales lo help our customers decide on which day they would choose to cell their livestock. DECEMBER 6th a.m. TOTAL DISPERSION of J.W. Elliott 329 HEAD 325 ABERDEEN ANGUS COWS CALVES YEARLINGS Al Prairie Livestock Ltd. Sales Ring We. 20 .......stock Cow A Bred Hiltor Sill Dec. 17th at p.m. Larry Oseen Production Sale Brown Swiss-Hereford Cross Heifers 30 Bred Heifers Bred to Registered Brown Swiss Bull 1000 to 1100 Ibs. 50 Heifer Calves 500 to 550 Ibs. ALL UNCIAL BALM WILL COMMINCI AT A.M. RIQULAR SALM EVERY MONDAY AT 11 tOO A.M. I Don't be content to accept one offer at consign your live-1 to us. where you are guaranteed to have the Auction Ring I full of Buyers to bid on your product PRAIRIE LIVESTOCK LTD. PHONE TABER DAY OR NIGHT JOHNNY CHARLTON Livestock Saskatoon Winnipeg 45- Toronto 46-51. Feeder steer calves 401-575 Calgary Edmonton Saskatoon Winnipeg Toronto 58-67. Good Calgary Ed- monton Toronto Montreal 42.50. Index 100 hogs Calgary Edmonton Saskatoon Winnipeg Toronto 58.05-58.80. Lethbrldge Sales Monday to 160 cattle. 693 2.168 hogs. 166 lambs. SUMMARY Butcher cattle prices unevenly steady to around lower in spots. Replacement cattle weak to lower. Trade moderately active. Slaughter steers meeling good de- mand at steady rates. Slaughter heifers meeting only fair prices 50 lower. Cows opened steady to strong closing around SI lower. Bulls generally steady. SLAUGHTER CATTLE Steers Al and 2 45 heifers Al and 2 41.75 to cows Dl and2 31 to 34.50. D3 30.75 to 31.50. D4 26.50 to good 37 to 37.50. REPLACEMENT CATTLE Good feeder steers over 750 Ibs. 41.50 to good feeder steers under 750 Ibs. 49 to good feeder heifers 42.50 to good stock cows 31 to bred cows and heifers 370 to 440 per good stock steer calves over 400 Ibs. 53.00 to good slock steer calves under 400 Ibs. 53.00 to good stock heifer calves 44.00 to 47.00. HOGS AND LAMBS Butcher hogs sold this week at the Lethbridge Yards 53.50 to 56.50 base price. Weaner and feeder hogs sold steady to 3 per head higher. Weaners 16 to 29.50. Light feeders under 100 Ibs. 26 to 35. Heavy feeders over 100 Ibs. 39 to 56.25 all prices per head. Light feeders under 100 Ibs. sold from 29.45 to 41 per hundredweight. Heavy feeders over 100 Ibs. 35.50 to 40.60 per hundredweight. Bred sows and gilts 55 to 152.50 per head. Boars 75 to 120 per head. v Good lambs 35 to 36. Calgary Lie. 913 GARYJENSEN CALGARY Friday's es- timated sales at the Calgary Public Stockyard totalled 650 1.000 calves. Good feeder steers sold at 42 to 51.40. Good stock steer calves over 400 pounds 50 lo 62. 300 to 400 pounds 50 to 61. Good stock heifer calves over 400 pounds 42 to 50. 300 to 400 pounds 42 to 49. Remainder of the cattle report was unchanged. No hogs were sold Friday at the Calgary stockyard. Alberta grain EDMONTON Feed grain prices fluctuating somewhat but generally remaining the Alberta Grain Commission reported Friday. The price ranges around Lethbridge are wheat oats S1.35-S1.50 and barley In the Medicine Hat-Brooks area wheat Oats S1.30-S1.40 and ba-ley Calgary and district buyers bidding wheat oats and barley A wheat shortage indicated around Red Deer with wheat oats S1.05-S1.25 and barley No change around Vermilion with wheat oats and barley Edmonton prices off slightly with wheat oats and barley Ranges throughout the Peace River area are wheat oats and barley Hog prices EDMONTON Closing average prices provided by the Alberta Hog Producers Marketing- Board with Thursday average In 54.09 Red 54.18 53.95 Nil 54.00 Fort Nil Grande Nil Fairview. Nil Total hog sales average 54.06. No sows sold. Beef futures WINNIPEG Live beef futures close Friday. Jan Mar May Jly 51.50. Perlich CHICAGO Principal com- modity futures were generally lower this week on major exchanges in the country in the wake of expanding energy problems. soybean meal and oats closed lower on the board of trade while soybean oil advanced but wheat and corn prices were uneven. cotton and cocoa futures advanced on New York but world coffee and orange juice futures fell back. Prices of pork beliy futures. live live cattle and shell eggs also were lower on the mercantile ex- change. The generally weak closing at week's end followed some rather ner- vous prices movements. After President Nixon had disclosed energy trade generally assumed that cut in diesel. propane or gasoline might effect drying of farm commodities or their movement to markets and in export. There followed some limit sellolfs but these were followed by limit ad- vances as the problems were set aside when the possibility of new and large export business with China loomed on the horizon. At week's end. the nervous market closed on an irregular tone. When trade had ended for the wheat was 3 lower to 10 higher. Dec. corn 12 lower to 5 higher. Dec. oats to Dec. 1.20 and soybeans 14 to 23 lower. Jan. 6.02. Soybean oil 70 to 330 points higher. Dec. and soybean meal 7.50 to 19.00 a ton lower. Dec. 181.00. Energy weakness in concern that consumers might rebel against prices appeared to work on commodities as all the major ones pushed lower in the week. Support appeared to be lacking at any level. Live hogs were down up to a and cattle up to while pork bellies were down some 300 points and shell eggs almost as much. silver and sugar prices generally reflected world-wide needs and concern about stockpiling. There also appeared to be some links to ris- ing gold prices. There was some sell- ing of sugar futures after the Soviet Union was reported to have sold sugar on the world market. Wool prices were irregular at week's end with little ap- parent foreign influence noted. Grain quotations Dec Mar May Jul Sep 3.95. Dec Mar May Jul Sep Dec Mar i. Dec Mar May Jul Sep i.26. Egg prices EDMONTON Weekly egg and poultry report issued by the federal agriculture To A large A medium A small B C cracks 28. To A large A medium A small 65-67. To consumers A large A medium A small 75. IIH.'I.TKY To Live No. 1 chicken 6 and 5 and under Fowl under turkey under 12 to over 45. Live No. 2 chicken 6 and 5 and under 29Vz. Turkey un- der 12 to over 43. Dollar value MONTREAL U.S. dollar in terms of Canadian funds closed Friday up 1-10 at par. Pound.sterling was down 41-100 at S2.34 1-5. In New the Canadian dollar was down 1-10 at par. Pound sterling was down 13-20 at 1-5. There were head of livestock sold this week at Perlich Bros. Auc- tion Market Ltd. Receipts included 2.467 cattle and 952 hogs. Cattle market steady to higher on good quality stock calves. Stock cows and heilers met a good demand at stronger prices. Prices quotations as SLAUGHTER CATTLE A1 and A2 steers 43.50 to 44. A1 and A2 heifers 41.25 to 42. D1 and D2 cows 31 to 33. D4 cows 27 to 30. Shelly kinds 23 to 26. Butcher bulls 37 to 41.10. I1KIM.ACKMKNT CATTLE Steer calves 54 to 63. Steer calves 55 to 63. Plain quality steer calves all weights 46 to 54. Feeder steers 800 49 to 54. Feeder steers 800 46 to 51.10. Holstein and shortkeep steers 33.75 to 46.70. Heifer calves 44 to 56. Heifer calves 45 to 55. Plain quality heifer calves 38 to 44. Feeder heifers 40 to 48.10. Feeder cows 26 to 32. Good quality stock cows and heifers 400 to 470. Medium quality stock cows and heifess 350 to 400. Plain quality stock cows and heifers 275 to 340. IMIKV CATTLE Market dressed weight 53.70 to 54.75. Good weaners 20 to 27.25. Light weaners 9.50 to 18.25. Feeders 100 26 to 40.25. Feeders 100 40 to 49.50. Bred sows and gilts 100 to 180. Baby calves 70 to 95. quality dairy heifers 650 to 900. Medium quality dairy cattle 370 to 540. SEEKS MORE SHARES NEW YORK Gulf and Western Industries has announced a tender offer aim- ed at doubling its holdings of Madison Square Garden Corp. to about 41 per cent. The New York based conglomerate has offered to buy up to one million shares at each. INCOME TAX Come to Airdrie Central Auctions RANCHERS 500 Sale of Stock Bred Heifers and Calvest Dec. p.m. Airdrie Central Auctions Limited SALE A complete herd dispersal for M. P. Spencer Creek Cochrane. 50 BWFCOWS 30 RWF COWS 20 BLACK COWS 14 MIXED BRED HEIFERS 100 crossbred weighing 450-500 Ibs. RANCH PRODUCTION SALE FOR DAVE Wapla Cochrane 150 Hereford cows. JOHN AND KEITH Vista 80 Hereford 2 year old heifers 55 Hereford bows. All pregnancy tested prior to sale time. All bred to good quality Hereford sires. These 2 year old ranch raised heifers are of ex- ceptional quality and will make a very valuable addition to any man's breeding herd. Special The Robinsons wish to advise that if buyers so these cattle can be wintered at their ranch until March 1974. Prior arrangements can be made by contacting Dave or John Robinson 687-5635 and 249-6032. AIRDRIE CENTRAL AUCTIONS Box ALTA. 288-5454 238-5915 PICTURE BUTTE AUCTION MARKET Ideally located In the centre of a large cattle feeding and hog raising country RANCH CALVES Feeder and Fat Cattle Dec. 5th 500 HEAD MIXED CATTLE Trucking Branding Vaccinating Order Buying Government Veterinary Feeding Pens HOG AND DAIRY CATTLE SALE every Saturday at 1 p.m. MARKET HOGS ASSEMBLED MONDAY THRU FRIDAY STOCK COW AND BRED HEIFER SALE TUESDAY. DEC. 18th 1 P.M. For Information and IftP IIIRIQ Pnone 732-4400 Listings Contact JIIVI QfiJUC U ft 19 Picture Bulte Picture Butte Auction Market Picture Alberta Auction market located 16 north of Lethbrldge on Hlohwov 25 MacLEAN LIVESTOCK LTD. PROVIDES YOU WITH LARGE SHIPMENTS OF FEEDER CATTLE FROM THESE AREAS IN WESTERN CANADA IF YOU CAN USE HEALTHY HIGH GAINING CATTLE EMPLOY US TO BEEF UP YOUR PROFITS PHONE Mac MacLEAN 732-4211 BOX 419 PICTURE BUTTE ;