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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 3, 1921, Lethbridge, Alberta FEBRUARY TUB LPTHBRIDCB PABLT HKRALD MARKET REPORTS Nor......146% C Nor......1SOK HAY PRICES i (Fumbled by Farm Products, Ltd., f Lethbrldge) No. I1 Alfalfa. Slid cutting.....120.00 No. 1 Alfalfa, 1st cutting 1'J.OO No..a AUalfa............1IJ.OO to 18.00 2 C. W.....KVt. C. W. No. 1 Mixed .timothy and alfalfa 24.01) MX. No. 1 Feed Light mixed...........20.00 to :3.UO.......... No. 1 Bluejolnt, Irrigated 85.M to 86.00 No. 1 timothy, irrigated .....29.00 Wheat Straw (3 Oat Straw to 12-Ofl Car lota, f.o.b. or Track, Manitoba, Saskatchewan and Allwrta a c. w..... ._ 1 2 feed.....36 Track 45 BARLEY .1 C. W. Feed A C. W. LETHBRIEXJE CHAIN PRICES I Prices paid today for grain In Loth- bridge, wagon load lots tallow: Wheat Flax Oats Bailey Hyo Winnipeg (train Marketa 1.50 1.20 .143 .138 C. W.....167% 8 C. W. Condemned............. Track No. 2 0. Chicago Grain CHICAGO, Feb. a ban ........____ on the use of Argentina quotations Advance "on the local market was not ben tended today to give an advan- maintained today, all gains again tago to bulls in wheat market but vfte on the downward path. MaT the effect failed to last. Notice of a wheat, after opening lower, advanced bankruptcy in the New York flour to timed extremely weak and i trade bat) a depressing influence and fell to but made a little come- so did absence of any important in- WINNIPEG, Feb. No. 1 N. W. C. back later. The selling branch I vestment demand. On the other band, of the trade there was considerable selling on the and helfirn to M.60; food cows, helfuri to good fl tu choice bull! to cliolro heavy focileri to mi'diuui to IS; choice veal to extra choicu would bring more. Hon. receipts 101. Selects off cars; no sates recorded. Sheep, receipts 12. Choice to tio.lid; yearlings to ewos to Winnipeg Livestock WINNIPEG, Fob. 285 cuttle, 600 hoes and 150 sheep. Tho market op- ened this morning with bidding being generally in line with yonterday's clow. Choice butcher topped at bulk to choice heifers bulk butcher wws to bulk feeder steers to stookers, to .The sheep and lamb market was firm, good lambs weighing up around with sheep to J7.5U. Tho hog market was unchanged from yesterday, selects, fed and wat- ered Chicago Livestock CHICAGO, Feb. receipts beef steers steady to strong. Hogs, receipts fairly active, largely 10 to lUc higher than yester- day's average. s Sheep, receipts opening slow, 26 to 50c lower. Toronto Livestock TORONTO, Feb. receipts 13-1. No choice quality on market. Prices again had things their own way and part of yesterday's buyers. Opening j still steady. were easily forcing values down- unchanged to 1 l-4c higher with Montreal Stocks ward. The market is entirely lacking March 156 3-4 to 157 and May 146 1-2 .in Investment detaand tures show little signs and the hi- to 147 were followed by setbacks all of improve- around to well under yesterday's close. ment. 'lower. Futures closed 3% to oats followed the course of other The demand for cash wheat is again good, but nothing Is Doming out, the producers refusing to sell at present values. The coarse grain markets continue unchanged with lower values pre- dominating in sympathy with wheat. Oats closed 7s to %c barley 114 Ic lower; flax Ic lower and rye lower. Quotations Open Close May............ 166% July......... 158 May.......... 4SV8 I grains, opening unchanged to a shade lower, tlrcn scoring moderate gains and later beading downward. CLOSE FUTUUES 152; May 144. 64 3-4; July 66 3-8. 41 1-8 July 42. Calgary Llveatock CALGARY, Feb. market was slow and draggy today with, no 538 good common to medium to good heifers to common July VJ. May July May............. 155% Cash Prices 1 Nor......172% 3 Nor......164% 48% 72% 71 17S to common 2 4 Nor......155% good bulls to common to medium to good stockers and feeders, to common to good calves to good wethers good lambs Select hogs to off car weights. Edmonton Llveatock EDMONTON, Feb. receipts 52; calves 1. Market fairly active, choice stuff steady, common 'draggy, choice heavy butcher steers to medium to comm6n choice butcher TRAVELLERS' CHEQUES Convenience, security and economy ire secured by the use of Travellers' Cheques issued by this Bank. They enable the bear. to identify himself and are readily converted into the current coin of any foreign country. m THE CANADIAN BANK OF COMMERCE PAID-UP CAPITAL RESERVE FUND LETHBRIDGE BRANCH-K. W. Roikie, Manager. ot the wheat board, he has loal 000 In of the laalyearto crop. The wheat pool, Mr. Wood continu- ed will Ni Ike at farm en It they will Many difficulties are In the way but farm ers should to ahead until they barrier. Then, and then only, wouM be the time to step. Matter of Finance It will cott BO more to flnannj the train movement through a pool than by pnieftt ho continued, and pointed out that by working to- gether in u body the task would bo simplified. Rogulatloii of the flow of grain to stabilise the market would be poiilbto If tho pool were established, Mr. Wood Mid. After eraphMlilng the need for per- fect union amooc tho farmers, he told the delegates that by establishing the pool they will complete the greatest task ever undertaken by tho farmer associations. It Is, he added, the first real fight to replace, the competitive trading system with a co-operative one. Not Ponlble in 1921 It will net ha pointed out, to establish the pool In time for the -1921 crop even if the great- est co-operation is secured. "It is the only system that promises he said, "and even if it takes 20 years we should go oil till we accomplish it." Rice Jones, general manager of the United Growers, Limited, wns the next speaker. Discuu Wheat Pool MOOSE JAW. Feb. of proilosed con- stitutional amendments foliowed the opening.of the morning session of the annual convention of the Saskatche- wan Grain. Growers' association here. Hon. 'Geo. P. Laugley, minister of municipal affairs'for the province, In- troduced the discussion on the 'pro- posed wheat pool. The question, he said, Is perhaps the greatest which has ever come be- fore tha farmers for settlement. The wheat board, he pointed out, was re- sponsible lor originating the wheat pool idea. The board, he added, waa never popular until' it had been done away with. Endeavors have been made, he con- tinued, to show that Saskatchewan Is hanging back, although her men were the ones who recognized the full value of the wheat board. He referred to the drop In wheat prices which resulted after the board had been discontinued ami whaat had to be sold in the open market. Farmers had held wheat to stabilize the market but agents put large quantities of It on the market and when there should have been thirty-five million bushels in the ter- minals at Fort William, thure were only 17 million bushels. This defeat- ed the purpose of holding grain but the farmers continued to pay storage on grain which was sold, he declared. Real and False Little aetual grain is being sold on the exchange at Winnipeg, although millions of bushels are sold to ham- mer the market down and force tho farmers to sell what thsy have in storage. Bogus wheat, he continued, is being sold by the millions of 'bush- els and the man 'Interested are out to steal the grain the farmers hare lu storage. The federal government, he said, could stop the robbery of the farmers by closing the exchange. If the grain exchange cannot be car- ___, ____ried on without gambling, it should yielded. A rally led by Texas and De discontinued, he said. Pacific and Industrial Alcohol, effect-1 He said the company favored the MONTREAL, 'Feb. Tha local stock exchange was quiet during the early trading this morning. Abltibi lost 1-4 point to 52; Brompton .rose 1-2 to 51 1-2, Laurentide was frac- tionally- stronger at 90; National Breweries steady hut. unchanged at 53. Spanish River lost a 1-2 point to 79. Other important issues ex- ceptionally quiet. Toronto Stocks TORONTO, Feb. Following yes- terday's weakness, feeble rallies oc- curred on the Toronto stock exchange made- for the present movement. Canada Steamships was extremely weak, following precipitately to 40 3-4 after a weak opening 2 3-4 points higher. C. P. R. and. Brazilian were slightly firmer. Wall Street Stocks NEW YORK, Feb. against speculative shares was resum- ed at the opening of today's stock market, the stiffer money tendencies inviting further selling for both ac- counts. Oils were again the heaviest features with steels and specialties, the latter including mail order shares. General Asphalt, Mexican Petroleum and Royal Dutch lost a point or more in the flrst few sales and Crucible Steel showed declines of 3 3-8. Sears- Roebuck added moderately to Its steady recession and Northern Paci- fic, yesterday's strongest stock rdact- ed 1 1-4. Exchange on London was Inclined to ease. The market continued to he. influ- enced mainly by prospects of higher rates for. money, call loans repeating yesterday's apenlng quotation of eight per cent, shipping: Oils, steels, equipments and extended their losses, de- clining 1 to 3 points from yesterday's final prices. Coppers and minor spec- ialties, including Coca Cola, also BUY BONDS PROVINCE OF BRITISH COLUMBIA {Guaranteeing Pacific Great East- ern Railway) Due 1942 ice 6.40% The cheapest security on the ket today. Listed on the London Stock Exchange. Payable in Lon- don and Canada. These Securities will be worth very much more with exchange at normal. ROYAL FINANCIAL CORPORATION LIMITED MEAD OFFICE 1001-100? ROGERS BUILDING, VANCOUVER, B.C. BRANCHES AT 201 Central Bldg. B.C. Permanent Loan.Bldg. 16 Eldon St. 6.C.2 SEATTLE, WASH. VICTORIA, B.C. LONDON, ENGLAND ed a recovery of 1 to 1 1-2 points in General Anphalt, Mexican Petroleum arid Atlantic Gulf. The rebound was of short duration, however, tho list falling back again before noon. Trading was narrow fcml limited. Bar Silver NEW YORK, Feb. silver, domestic-99 1-2; foreign 03 1-S. N. Y. Funds NEW YORK. Feb. ex- change easy. Demand 1-2; cab- les 1-4. Canadian dollars 10 15-1G per cent, discount. N.Y. Stocks NEW YORK, Feb. sales 115 1-4; U.S. Steel U.S. Steel preferred 110 1-2. SI (Continued from Front Page.) For Success 6f Pool Essentials to the success of the wheat pool he gave as control of the storage facilities, good financial back- Ing and the support of the farmers. far as the work of organization is concerned, it is going forward as fast as possible. He denied that any difference of op- inion exists and stated that Manitoba, Saskatchewan, Alberta anrl Ontario are in complete accord. Facilities must be provided, he pointed out and the railways have both proved "awkward In this re- gard. Proper facilities for. shipping Brain can only be secured through the house at Ottawa, which could al- low the pool the same control as was granted the wheat pool. "A pool at the best can only.be partially he concluded. "It is national system in which your hope lies." Mr. Langley told the convention that only by complete union can tho farmers hope for success. At least 60 per cent, of the farmers must join the pool, he added, to make it successful. Saskatchewan Will Help In answer to questions from dele- gates regarding the attitude of tho provincial government, Mr. Langley said that he had talked tho matter over with Premier Martin, who had ngreoil that if after consideration it was found necessary to establish a wheat pool und provincial support Is necessary, that the provincial gov- ornmsnt will bo willing to Rive any help it ptwsihly ran. Pres. Woodi Speaks IF. W. Wood, president of the Unit- ed Farmers of Alberta, a fraternal delegate, said the establisbmr.-nt of a permanent wheat board would be too dangerous tocaaaa of political III- liuonce. i proposed pool, because It would eli- minate duplication of expenses and profits and lead to expert selling of the crops. Tha greatest difficulty, he held to be the handling of the pool grain at country points, because the farmers only own. 18 to 20 per cent, of the ele- vator facilities. He' advocated con- tinuance of the pool plan. The com- pany, he promised, will give every sup- port to the pool if established. Dunning's Opinion Hon. C. A. Dunning, provincial treasurer, waa asked for his opinion. Tho government, he said, is deeply interested and as a result has appoint- ed a committee to investigate and until he has heard its opinion refused to discuss the pool, although he de- clared himself in favor of national selling of wheat. He asked the farm- era to carefully consider the proposed scheme before coming to a decision. The pool will be seriously handicap- ped by lack of powers which tho wheat board operated under. Farmers have a right, he continued, to see that the interests of the shareholders in provincial co-opera- tive grain handling Institutions are not endangered. With regard to the amount of money received from unclaimed participation certificates resulting from tho wheat board operations, Mr. Lacgluy sug- gested that it be divided between the agricultural colleges of the three prairie provinces. Discussion will be resumed after- the noon recess. US. JAKES (Continued from front to restrict armaments which were re- cently submitted to the Kenseikul ur opposition party by Yuklo Ozaki, a prominent member of the organiza- tion, have been referred to a special committee of eleven members party. It IB declared by newspapers hero that the proposals threaten In split in the Kenselkia party, as many members agree with M. Ozaki'a theory, but aasert it is impracticable Cor Japan to curtail her military and naval programs. U.S. for Battleihlpc WASHINGTON, Feb. major ship vemalns tho basis of sea power and those who argue that the airplane and the have supplanted it are the United States "to accept hope's for the naval "general hoard says In a to Secretary of thoj Navy Daniels, made public today. The general board, baring kept In touch with along all lines, sayt tho report, "reiterates Its In tho battlcnliip forming tho principal unit ot the With- out them tht) United States cannot hono to with eilitlng navies." Urging that "equality In powor bu owtlnulne naval policy or the UmltMt the board nayi there i In "no thought cf Inxtltultng luMrna-1 tlonal competitive building and that "no other nation cun In reason take exception to such a position." Tho report was aupruved by Secre- tary and was transmitted by him to the naval committed for Ha information In considering pending disarmament and "naval po- licy" resolutions. Position Cessation of naval building by Great Britain, is attributed by the board to the groat preponderance In her navy ot all types or ships ami to tho present economic situation in that country. Decline Borah Plan A suspension of work on the naval building program for six months to allow experts to determine, In the light of the lessons of the world war, what types of ships arn most useful as'provided in the pending resolution which is sponored by Senator Borah, is neither necessary nor advisable, the board asserts. "The important facts regarding the naval operations in war are already generajly the report says. "Kvery now weapon of nffttate that has threatened tho supremacy of tho capital ship luul been met by u MUC- utBStul mode of the report declares, citing tho development of tho torpedo as an Illustration of the contention. The report points to duvelopment of tubmariM mt aircraft and that "inrtmtlu'i will provide menus fur meeting thw future development of these and like their preilecettom, will continue) to bo only adjuncts ol tho fleet." Stock Raisers are now offered a complete marketing and banking service through our new Branch at the Calgrary Stock Yards. Full information regarding live stock market conditions, quotations, etc, furnisfied by the Manager, by wail, telephone, or telegraph, and funds transferred to and from clients' home account! to expedite their business at the Yards. Make the Stock Yards Branch your business headquarters whilo in Calgary. A special room is provided for you. MCRCHANTS BANK Head Office: Montreal. OF CANADA Ettabllalnd 1804. LETHERIDCE BRANCH, R. I PINNING. CALGARY STOCK YARbS BRANCH. VfcV Brsnclw It Buuil .nd Sub- Aguey mi Moiwrcli ui4 Fridtn. MACDONALD'S Cut Brier More Tobacco Ibrtte Money Packages The NSW LTGfTT.StX Motor, of exclusive Studebaker design and built complete in Stude- baker factories, is remarkable far its power, economy, flexi- bility and smoothness. NEW LlGHT-SlX Light Weight Car Studebaker LIGHT-SIX sets a new standard of A achievement in automobile engineering for and improved design distribution and exact balance of car weight acceleration and power and quietn.ess of performance of operation and control of fuel maintenance. You can have the advantage of its motors wonderful gasoline economy and the satisfaction of its smoothness of operation only by .owning a Studebaker LIGHT-SIX. We are ready to demonstrate and make deliveries, GRAHAM MOTOR CO. LIMITED. 414 Sixth St. S. LETHBRIDGE ;