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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 21, 1974, Lethbridge, Alberta 24 THE LETHBRIDGE HERALD Saturday, December 21, 1974 Technical influences confuse stock trends By SANDRA INGALSBE The Canadian Press Several major stock market in- dicators finished slightly higher this week, despite the confusing trends created by technical influences. ('rices came under pressure from selling by investors to establish tax losses before the end of the year. At Toronto, the number of declining issues was higher than those advanc- ing every day this week, despite the fact that the industrial index, which often indicates market trend, rose dur- ing three of those days. "There has been an unusual amount of tax-loss selling this said Hubert Walkden, president of Cana- dian Business Service. Toronto invest- ment counsellors. "It is about the only way you can explain a lot of issues fall- ing in the past few sessions." "Next Tuesday is expected to be the last day for tax-loss selling for 1974. The usual tendency for investors to put it off until the last minute has become apparent." The Toronto industrial index closed the week at 154.23, up .52. Last week, the index touched a four-year low before rallying to close with its first gain in six weeks. At Montreal, the industrial index was down .45 to 155.17 while the com- posite index rose .29 to 153.85. DOW GAINS At New York, the Dow Jones in- dustrial average rose 5.71 to 598.48, after a gain of more than 15 points last week. Gold shares were up sharply at Toronto this week, largely in response to higher bullion prices on commodity markets. Prices retreated slightly after early advances, but the gold in- dex closed the week with a gain of 34.18 points to 400.22. Western oils, which led last week's advance, lost ground this week. Shares in this sector had rallied from an eight- THE STOCKMAN'S MARKET CkfistmosTidinqs THANK YOU STOCKMEN, FARMERS, BUSINESSMEN, CONSIGNORS AND BUYERS FOR YOUR SUPPORT IN 1974 TO OUR MANY FRIENDS, who have so kindly favored us with their patronage we send our grate- ful thanks. We look ahead to the New Year with the hope that our pleasant associations may long continue, and with the wish that the days to come may be rich in Health, Happiness and Prosperity for you and yours. HOLIDAY SALES WILL BE HELD TUESDAY, DEC. 31, 1974, 1 P.M. HOG SALE THURS., JAN. 2, 1975, 1 P.M. CATTLE SALE J W CATTLE CO. SIMMENTAL SALE MON, DEC. 30th P.M. ON OFFER: 1 PUREBRED SIMMENTAL BULL "PILATUS" Born: Jan. 21, 1970. Swiss Import, exportable. Purebred Embryo Transplant. Sire: GALANT. Dam: FRANZI. 551 Swiss Import. Transplant date: June 26, 1974. 3 Heifers 1974; 10 3A Females Bred; 10 Females Open; 100 Yz Blood Females Bred; For further information phone owners: ROY JOHNSON (403) 758-6657 HAROLD WATSON (403) 653-3664 or PERLICH BROS. AUCTION MARKET LTD. Sale Headquarters: PARK PLAZA MOTOR HOTEL (403) 328-2366_________________ HOGS SELL Tues., at 1 p.m. next Hog Sale Tuesday, Dec. 31st at p.m. Dairy Cows Baby Calves Sheep Market Hogs Shipped Daily Live Weight and Dressed Basis YEARLING FEEDER AND FAT 1 CATTLE AND CALVES Next Cattle Sale Thursday, Jan. 2nd at p.m. Thursday -1 p.m. YEARLINGS and MIXED CATTLE RANCHERS' CALF SALE NEXT CALF SALE Wed.. Jan. 8th at p.m. EVERY WEDNESDAY TOP QUALITY RANCH CALVES All Conducted by PERLICH BROS. AUCTiON MARKET LTD. Located in the Hub of Southern LIvettock Induttry 3 eait of Lethbridge on Highway 3 and Vi mile BOX 1057, LETHBRIDGE T1J4A2 Phone Day or Night 329-3101 Company License No. O71468 AUCTIONEERS: JOE PERLICH Lie. 010293 BOB BALOQ Lie. 067454 TONY PERLICH Lie. 010242 year low last week following an an- nouncement by the Alberta gov- ernment that it would reduce oil and gas royalties and increase wellhead for crude oil. Although welcoming the news, analysts said a strong recovery in oil shares is not likely until the federal and provincial governments resolve their dispute concerning resource tax- ation. On the week, the western oil index at Toronto was Off 8.29 to 110.72. The base metal index was also lower, off .64 to 55.58, its sixth straight weekly decline. Trading was moderate to active at Toronto this week with 11.66 million shares changing hands for a value of million, compared with 11.16 million and 167.8? million last week. At Montreal, volume was 3.77 million and value million, com- pared with 3.35 million shares and million last week. Bonds BOND PRICES GOVERNMENT OF CANADA BONDS Oct. 8% Jul. Sept Sept 3% S.ept 15 P 6Vi% Apr. 7V4% Jul. PROV PROVINCIAL GURANTEED BONDS: A 4 98.95 99.05 102.75 103.00 80.25 80.50 72.00 73.00 38.00 40.00 99.75 99.80 100.05 100.10 Ont Man Alta G BC BC Bell Bell CP CU Intl N C TrCda TrCrJa West Increase This is an aerial view of the Port of Montreal with Despite labor strife, the port handled 24 million tons of 32.9 million tons the year previous. the city in the background, cargo in 1974, compared to Ottawa CONVERTIBLES: Ackland Alta Gas Con Gas Scur R West C West Tr IAC 7Vi% '88 '9C '89 '88 5V2% '88 7'.i% '91 '94 9% 83.00 100.00 66.00 70.00 64.00 84.00 101.00 86.00 ssco 73.00 66.00 86.00 103.00 Gold futures WINNIPEG (CP) Gold futures. U.S. funds. Winnipeg Commodity Ex- change close Friday. 4IMJ-OUNCE CONTRACTS: Jan 75 186.25; Apr 75 190.70B; Jly 75 195.60A: Oct 75 200.30B; Jan 76 205.00B. Thursday's volume: 665 contracts. 100-OONCE CONTRACTS: Feb 75 188.60A; May 75 194.80A; Aug 75 199.60B: Nov 75 203.00B: Feb 76 208.50A. Thursday's volume: 238 contracts. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds Friday was up 1-25 at 47-50. Pound sterling was down 21-100 at 7-25. In New York, the Canadian dollar was down 1-25 at 7-100. Pound sterling was down 3-10 at 15-20. OTTAWA (CP) Receipts of slaughter cattle and calves at nine public stockyards this week were 300 down the federal agriculture department said Friday. Feeder cattle and calves totalled down 5.700. Sheep and lambs receipts were up 875. Narrow demand in mid-week for A-l and A-2 steers in Toronto brought a drop. Prices on A-l and A-2 heifers dropped S1.50. A-l and A-2 cow prices also declined under dull trading while vealer calf prices were steady under a moderate to good demand. With A-l and A-2 steers and heifers scarce in Winnipeg, trading in western centres was confined mainly to Saskatchewan and Alberta centres. In Saskatoon A-l and A-2 steer prices declined and heifer prices were down to under a narrow demand. PRICES VARY A-l and A-2 steers prices advanced in early trading in Alberta centres but X.algary reported later losses of S2 so as the demand narrowed. A-l and A-2 heifer prices declined in Calgary while Edmonton prices declined 50 cents after an initial advance of 75 cents. D-l and D-2 cow prices in all centres except Edmonton declined to Edmonton advanced in early trading but declined at closing. In Toronto, good lamb prices declin- ed Tuesday. They remained steady in Saskatoon under active trading. Prices in Edmonton declined under a moderate demand. Hog-prices in Toronto declined then recovered 20 cents at closing. Prices in Winnipeg A'ere up with Saskatoon declining 40 cents. Alberta centres reported losses of up to with closing prices recovering 40 cents of the initial decline. Livestock Slaughter cattle, steers A-l and A-2: Calgary 46-49.80: Edmonton 43-46; Saskatoon 44-46.50; Winnipeg 46-48.50; Toronto 49-51. Heifers, A-l and A-2: Calgary 35-40; Edmonton 33-36; Saskatoon 36.50-39; Winnipeg 38-41: Toronto 41-43. D-l and D-2 cows: Calgary 18-23; Ed- monton 16-18.50; Saskatoon 18-20; Win- nipeg 18-20; Toronto 21-23: Montreal 20-25. Slaughter calves, good and choice veal: Winnipeg 60-80; Toronto 40-50: Montreal 55-70. Feeder steers of more than 750 pounds: Calgary 40-45.25; Edmonton 38-42: Saskatoon 35-42; Winnipeg 38-43; Toronto 40-45. Feeder steer calves 401-575 pounds: Calgary 32-42.50; Edmonton 36-42; Saskatoon 28-38.50; Winnipeg 37-42; Toronto 40-50. Good lambs: Calgary 37-38; Ed- monton 36-40; Saskatoon 35-37.50: Toronto 43-48; Montreal 54-65. Index 100 hogs dressed: Calgary 51.05-57: Edmonton 51.80; Saskatoon 52.10-52.60; Winnipeg 51-52.60; Toronto 55.75-58.50; Montreal Market hogs dressed weight 51.50 to 52.90. Good weaners to 16. Feeders under 100 Ibs. 18 to 30.50. Feeders over 100 Ibs. 40 to 46.25. Bred sows and gilts 57 to 127. There will be no regular sales Christ- mas week. Lethbridge Sales Monday to Friday: 150 slaughter, 573 feeders. 1.776 hogs. 53 lambs. SLAUGHTER CATTLE Dl and D2 cows 18-21. D3 16-18. D4 10-16. Good bulls 17-20.70. REPLACEMENT CATTLE Good feeder steers over 750 Ibs. 37- 40, good feeder steers under 750 Ibs 38- 41. good feeder heifers 28-32, good stock steer calves 400-575 Ibs. 39-44.50. good stock steer calves 300-400 Ibs. 38- 41. good stock heifer calves all weights 29-35. HOGS AND LAMBS Butcher hogs sold this week at the Lethbridge Yards 51.35-53.05 base price. Perlich Calgary REGULAR CATTLE SALE eetmas wishing all of you a very special Merry Christinas! Regular Monday Sale REMEMBER HOG SALES EVERY WEDNESDAY We will be asMmbling Market for the Marketing Board and tell Weaner and Feeder. Hogs at 1 :OO p.m. NO HOGS WILL BE SOLD MONDAYS !EGULAR CATTLE SALES WILL CONTINUE EVERY MONDAY Don't be content to accept one offer at home, consign your live- stock to us, where you are guaranteed to have the Auction Rinc lull of Buyers to bid on your product PRAIRIE LIVESTOCK LTD. PHONE 223-3921, TABER-DAY OR NIGHT Auctioneer: JOHNNY CHARLTON There were head of livestock sold this week at Perlich Bros. Auction Market Ltd. Receipts included cattle and 879 hogs. Price quotations as follows: SLAUGHTER CATTLE Al and A2 steers 46 to 47. Al and A2 heifers 36 to 38.50. Cl cows 24 to 26. Dl and D2 cows 20 to 24.10. D4 cows 10 to 19. Shelly cows 5 to 10. Bologna bulls 18.75 to 20.25. REPLACEMENT CATTLE Good quality steer calves all weights 40 to 45. Plain quality steer calves all weights 30 to 39. Hols- tein steer calves 22. Feeder steers under 800 Ibs. 40 to 45.75. Feeder steers over 800 Ibs. 40 to 45. Hols- tein steers 36.85. Good quality heifer calves all weights 27 to 33.50. Plain quality heifer calves 20 to 26. Feeder heifers 30 to 34.50. Plain quality feeder heifers 22 to 29. Feeder cows 18 to 22. CALGARY (CP) Friday's sales to 3 p.m. at the Calgary Livestock Market totalled 85 cattle, 615 calves and 56 hogs. AH classes of cows steady. Kind and condition considered. Cows Dl-2 19-21. Rest of cattle report unchanged. Hogs base price 51.35. Alberta grain EDMONTON (ACN) The Alberta Grain Commission in its weekly report Friday said that in feed, grain prices wheat fluctuating because of quality, little change in oats but barley down slightly in most areas. Buyers from Lethbridge and district bidding wheat oats and barley Little change from Medicine Hat Brooks with wneat oats and barley Stocks close TORONTO (CP) The stock market was lower at the close of ac- tive trading Friday. Preliminary index figures had in- dustrials down .83 to 154.12, golds down 2.49 to 400.78, base metals down .02 to 55.56 and western oils down 1.39 to 110.72. Final volume was 2.66 million shares compared with 2.43 million Thursday. In industrials, Mercantile Bank lost to Reader's Digest to Imperial Oil A to Texasgulf to and Inco A to Woodward A gained to Sony to Stuart Oil to Calgary Power to and Canadian Industrial Gas to Vs. Sigma was down to Hudson Bay Mining A to and Dynasty to Roman rose Vi to and Hollinger A 'A to Canadian Superior dropped to Numac to and Ranger to Pan Ocean rose to and United Canso V4 to MONTREAL (CPl Prices were mixed in light trading on the Montreal Stock Exchange Friday. Volume at the close was shares compared with shares at the same time Thursday. Industrials fell .77 to 155.55, the com- posite.33 to 154.20, utilities .32 to 119.92 and papers .31 to 97.13 while banks rose 3.05 to 203.14. Consumers Glass fell 1 'A to St. Lawrence Cement A to and International Nickel A 'A to Calgary Power rose Vi to Asbestos V2 to and Consolidated Bathurst to Among speculative issues. Fallinger rose cent to 18 cents after trading shares. VANCOUVER (CP) Trading was light with prices mixed on the Van- couver stock exchange Friday. Closing volume was shares. In the industrials, lonarc was down .01 at .13 on shares. Newmark was unchanged at .h on Block Brothers was down .15 at on and Canadian Javelin was down .12Vz at on 8.700. Imperial Marine was unchanged at .05 and Jolly Jumper was unchanged at .10. In the mines, Skaist was down one- half at .23VZ on shares. Barrier Reef was up .10 at on Grandora was down .01 at .39 on and Green Eagle was down one-half at .11 Mi on Dolly Vardon was un- changed at .15 and Pacific Resources was unchanged at In the oils. Bison was up .15 at on shares. Seneca was down .04 at .76 on Plains was unchanged at .05 on and Monterey A was down .02 at .06 on 14.500. August was down .01 at .09 and Freehold was un- changed at .31. In the curbs, volume was shares. Chatham was unchanged at on 23.750; Keith was unchanged at .04 on 20.000; Adar was down one- half at on and Olympian was up .02 at .37 on Beerrnaster was down .05 at .25 and Aragon was down .01 at .29. NEW YORK (AP) The stock market faltered Friday in the face of the government's report that the cost of living continued climbing at a two- digit rate in November. The Dow Jones industrial average closed down 5.95 at 598.48. Among Canadian issues on the New York Stock Exchange, Mclntyre fell to Dome Mines to and International Nickel 'A to Massey Ferguson was down 'A to and Campbell Red Lake to Canadian Pacific rose 'A to and Seagrams Va to while Alcan remained unchanged at The Herald Business Chicago markets CHICAGO (AP) A late round of buying set off short covering and soybeans, soybean meal and oil futures closed higher on the Board of Trade Friday. Corn and oats were down about 4 cents a bushel but wheat prices were mixed. Trade was very slow throughout the session, typical of a pre-holiday session. Prices drifted lower, however, apparently for lack of out- side direction. There was talk of large acreage to be devoted to grains next year and that prices could, as a result, ease. The nor- mally bullish factors of weather, im- proved export demand and a report that worldwide grain production in 1975 could be lower failed to set off any sustained buying. Rather, it appeared the trade was interested in domestic and world economic conditions. Late in the session a major exporter bought soybean oil futures and a limit decline was turned into sharply higher prices as sellers began to back away. Soybeans and meal also improved and declines in wheat, corn and oats were trimmed. At the close, soybeans were 1 cent a bushel lower to 6 higher Jan. 7.58, wheat 2 lower to 1 higher March 4.71, corn 1 to 3Vz lower March 3.54ft and oats 2'A to 4 lower March Grain quotations Friday: Wheat: Mar 4.71; May 4.68; Jul 4.28; Sep4.34: Dec 4.45. May 3.56; Jul 3.53; Sep 3.33; Dec 2.97; Mar 3.02. Oats: Mar 1.69ft; May 1.70V4; Jul Sep 1.60; Dec Winnipeg grain WINNIPEG (CP) Prices were generally mixed in moderate activity Friday on the Winnipeg Commodity Exchange. Although flax was up the daily limit in one future, most other commodities moved only marginally in either direc- tion. Thursday's volume of trade was bushels of feed wheat, 000 of oats. of barley, of corn, of rye, of flax, and of rapeseed. Closing prices: Thunder Bay rapeseed: Dec. un- changed 8.25B; May two higher 8.52B; July unchanged 8.20A; Oct. unchanged 7.84N. Vancouver rapeseed: Jan. five higher 8.73B; Mar. 6ft higher 8.67B; June 6V4 higher 8.55B; Sept. 10 lower 8.12B. Flax: Dec. 30higher 11.27B: May5% higher July two lower 10.28A; Oct. unchanged 9.95N. Feed wheat: Dec. 1ft lower 3.81 ftB; May Vi lower 3.79ViB; July unchanged 3.79V4N; Oct. unchanged 3.78N. Corn; Dec. unchanged 3.91N; Mar. 10 lower 3.80B; May eight lower 3.91 A; July unchanged 3.76N. Barley: Dec. Vt higher 2.93; May Mi Beef futures WINNIPEG (CP) Live beef futures close Friday. Jan 47.60A; March 48.25N; May 48.00N. Thursday's volume: No contracts. Feed prices WINNIPEG (CP) Wheat Board domestic feed grain prices: 3CW red spring wheat 3.82; No. 1 feed barley 2.93; No. 1 feed oats 1.93. higher 2.94; July Vi lower 2.91 VaB. Oats: Dec. unchanged 1.93; May un- changed 1.88A; July unchanged 1.83ftN. Rye: Dec. two lower May Vi lower 3.07Vi; July one lower 3.01 ftB; Oct. unchanged 2.94N. Grain quotes Friday (basis High Low Close Flax Dec May 1080 1063 Jly Oct Rapeseed Thunder Bay Dec May 852 841 Jly Oct Rapeseed Vancouver Jan 873 853 Mar 867 845'A Jun 855 833 Sept 812 810 Rye Dec May 305 Jly 301ft 300 Oct Barley Dec 293 291 May 294 Jly Oats Dec 193 192% May 188ft 187 Vt Jly Corn (basis Montreal) Dec Mar May Jly Feed Wheat Dec 383 381 ft May 379% 378 Jly Oct 1127 1070% 1028 995 825 852 820 784 873 867 855 812 291% 307Vnone 732-4400 PICTURE BUTTE Q KEUJER CATTLE CARE P.O. Box 1001, Coaldale Specializing in: Phone 345-4746 Custom A-1 Breeding and Boarding Cattle Full time heat detection and Semen handling of your choice at your farm Consulting on Tatoos, recording and upgrading percentage importer of Pure Bred M.R.I. Cattle For more Information or Space contact: Kmijor, (4O3) 345-4746 ;