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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 26, 1974, Lethbridge, Alberta The Herald Business Gold shares swing widely Gold shares continued to swing wide- ly in active trading this week, but stock markets generally found little to en- courage a break from the dull pattern of the last few weeks. Record bullion. prices in Europe prompted a 17-point rise in the Toronto gold index Monday, but profit-taking during the next two days erased the gain. The index was up sharply again Thursday following a report by a Common Market commission propos- ing use of gold reserves to meet rising oil and commodity prices. The index closed the week up 13.04 to 555.17. Other major market indicators were also sensitive to news, sometimes changing directions several times a day. Inflation, energy problems and fears of recession continued to worry the market. Analysts said the decision by France last weekend to float the franc cast doubt on any real progress to- ward restructuring the international monetary system this year. Canadian markets responded to a strong rise at New York on Wednesday after U.S. State Secretary Henry Kissinger predicted an end to the Arab oil embargo and a major U.S. bank lowered its prime interest rate. Buying slackened when little news appeared to back' up Mr Kissinger's statement and when other banks were slow in following the rate reduction. On the week, the Dow Jones average of 30 industrials was up 3.92 to 859.39. At Toronto, the industrial index, con- sidered the main indicator of market trend, was up .41 to 210.58. Al Montreal the composite index rose 4.08 to 221.06. Toronto's base metal index was higher as prices for some metals on commodity markets increased. The in- dex gained 3.38 to 104.11. Western oils were off 1.85 to 266.36. One of the major problems for the stock market is a slowdown in economic growth this year, analysts say. Wood Gundy Ltd.. in a recent Cana- dian economic review, comments: "We anticipate significantly slower real growth this year than per cent compared with 6.5 per with the rate of inflation continuing at a historically high level of more than seven per cent as measured by the GNP deflator." The firm says that 1975 will be a year of transition, poised between the slow pace of 1974 and anticipated strength in 1976. Volume at Toronto this week was 18.38 million shares and value was million, compared with 15.67 million and million last week. On the Montreal market. 6.96 million shares were traded compared with 6.22 million last week. Value was million against million. Beef futures WINNIPEG (CP) Live beef futures close Friday. Mar 54.20A: May 56.00A: Jly 55.50A: Sept. 54.20B. Thursday's volume: Nil contracts. THE STOCKMAN'S MARKET 300 to 500 HOGS SELL Tues., at 1 p.m. COWS CALVES Market Hogs Shipped Daily Uvt Weight ind Butt Special Rancher Calf Sale Wed., Jan. p.m. 700-HEAD- 700 TOP QUALITY RANCH CALVES YEARLING FEEDER AND FAT CATTLE and CALVES Thursday -1 p.n., 600 HEAD 600 Stock Cow Sale Fit, Feb. 15th 1 p.m. Invited NORTON FARMS LTD. CHAROLAIS SALE FRI., FEB. 22nd at p.m. 100 and Percentage Built ir.d Fenwtae WESTERN COWS BRED EXOTIC SALE MOM., FEB. 25th at 1 p.m. Entry Dndline February 9th SPRING ROUNDUP BULL SALE Hereford Angus Shorthorn Charolais- Mon., March p.m. Invited LE GRANDE LIMOUSIN LTD. LIMOUSIN DISPERSION 100 Bred and Open i LimoiMin Friday. March 8th 1 p.m. PERLICH BROS. AUCTION MARKET LTD. Loealejl hi 9m Mufc el AlwrUM LlTeMoeli liXuetry 3 ffiNVA MHN Off LAlnlJf'MNje) Oft nNJRWVy 1 MQ M ffllW vtMml T1J4A2 PhoiM Day or NlgM PLEASE NOTE NEW PHONE NUMBER 329-3101 Company UewiM No. 0714M I xttnnuCH LIC. tlMM AUCTIONEERS: MMtMOtt UC. M74M TONY rtm-ICH LIC. Livestock Unlisted stocks TORONTO (CP) Prices on the over-the-counter market were mixed in active trading this week. In industrials Laidlaw warrants rose to bid and no asked price, Readyfoods 35 cents to bid and asked and Creative Patents 75 cents to bid and asked. Highland Queen was up 25 cents to bid and asked and Daniel Diversified 25 cents to 40 cents bid and 50 cents asked. Henninger Brewery fell 50 cents to bid and asked, Extendicare warrants sold 50 cents to bid and asked. Warrington warrants 25 cents to bid and asked and Exten- dicare 25 cents to bid and asked. Consolidated Computer was down 10 cents to 90 cents bid and asked. In mines and oils. Robin Red Lake rose to bid and asked, Silver Eureka 35 cents to bid and Earnings By THE CANADIAN PRESS Banister Continental Ltd., nine months ended Dec. 31: 1973, 75 cents a share; 1972, Canron Ltd., year ended Dec. 31: 1973. million. a share; 1972, million, Dominion Glass Co. Ltd., year end- ed Dec. 31: 1973, a share: 1972. 84 cents. Dominion Textile Ltd., six months ended Dec., 31: 1973. million, 52 cents a share: 1972, million, 27 cents. Harding Carpets Ltd.. year ended Oct. 31: 1973, 70 cents a share: 1972. 50 cents. Premier Cablevision Ltd., three months ended Nov. 30: 1973, 22 7 cents a share: 1972, 20 cents. Standard Broadcasting Corp., nine months ended Dec. 31: 1973, 48.1 cents a share; 1972, 45.1 cents. Oat prices WINNIPEG (CP) The Canadian Wheat Board Friday announced a 15- cent increase in its estimates of final payments for oats delivered in the current crop year. The revised esimate. resulting from rising feed grain prices in the domestic market, means final payments of 36 cents a bushel for No. 2 Canada Western and 37 cents for No. 1 feed grade. On top of initial prices paid at time of delivery, the new estimated final payments would bring the total realized price at Thunder Bay to for No. 2 cw and for No. 1 feed. Estimates of final payments, first announced in September, remain unchanged for wheat and barley. no asked price and Lakelyn 32 cents to bid and asked. New Pascalis was up 20 cents to 85 cents bid and 95 cents asked and Ego 14 cents to 28 cents bid and 30 cents asked. Golden Briar fell five cents to 39 cents bid and 41 cents asked. New Metalore six cents to 86 cents bid and 90 cents asked, and Holmer four cents to bid and asked. Aggressive was down six cents to 50 cents bid and 55 cents asked and Aik n-Russet Red I' Lake one cent to 33 cents bid and 37 cents asked. Dividends By THE CANADIAN PRESS Dividends are quarterly unless otherwise noted. Canadian General Electric Co. Ltd., 25 cents. April 1, record March 11. Dominion Scottish Investment Ltd., 5 per cent pfd., 62'4 cents, Feb. 28, record Feb. 15. Dover Industries Ltd., 12 cents, March 1, record Feb. 11; 6 pfd., 15 cents. April 1, record March 11. GBC Capital Ltd.. pfd., 65.625 cents, April 1. record March 15. Hughes Tool Co., 10 cents, U.S. funds. Feb. 28. record Feb. 5. Island Telephone Co. Ltd., 16'Xi cents. March 15. record Feb. 28. Loblaw Inc., 10 cents, U.S. funds, March "l, record Feb. 8. C.A. Pitts Engineering Con- struction Ltd., class b. 5.1 cents: class C six cents, increase of one cent; both payable Feb. 27, record Feb. 5. Standard Brands inc., 45% cents, U.S. funds, March 15, record Feb. 15. Standard Oil Co., 80. cents, U.S. funds, increase of 13 cents. March 10. record Feb. 6. Steetley Industries Ltd., 12 cents, March 15, record Feb. 15. Texaco Inc., 50 cents, increase of six cents. U.S. funds. March 8, record Feb 5. Tru-Wall Concrete Forming Ltd.. four cents. Feb. 28. record Feb. 14. Dollar MONTREAL (CP) U.S. dollar in terms of Canadian funds closed Friday down 4-25 at 23-25. Pound sterling was down 63-100 at 31-50. In New York, the Canadian dollar was up 17-100 at Pound sterl- ing was down 310 at Gold futures WINNIPEG (CP) Gold futures. U.S. funds, Winnipeg Commodity Exchange close Friday. Jan 74 141.70; Apr 74 145.75B; Jly 74 15I.OOB: Oct 74 156.60B: Jan 75 163.00B. Thursday's volume: 93 contracts. REGULAR CATTLE SALE EVERY MONDAY 11A.M. HOG SALES wry WEDNESDAY We will M assembling Market Hogs for the Marketing Board and sell Weaner and Feeder NO HOGS WILL BE SOLD MONDAYS REGULAR CATTLE SALES WILL CONTINUE EVERY MONDAY I Don't be content to accept one offer at home, consign your live- istpck to us, where you are guaranteed to have the Auction Ring [full of Buyers to bid on your product PRAIRIE LIVESTOCK LTD. PHONE M3-3W1, TAlEft DAY Oil NIGHT JOHNNY CHAMLTON GARYJENSEN Memories Jim Hoe, Prince Ed- ward Island's oldest re- sident at 107 years, shops for his weekly supply of grocieries in a supermar- ket in downtown Char- lottetown Tuesday. He said he has seen many price increases in his day. Now in his 108th year, the Chinese resident was born November, 1866. Winnipeg grain WINNIPEG (CP) Rye futures recovered from substantial losses over the last few days to close 15 cents higher in nearby months Friday on the Winnipeg Commodity Exchange. Flax and rapeseed however continued the easing trend in moderate activity. At the close, flax was 30 lower to unchanged. Vancouver rapeseed was 12 to 20 lower. Thunder Bay rapeseed was 15 lower to unchanged and rye was 15 higher to unchanged. Volume of trade Thursday was 558.000 bushels of flax. of rapeseed and 710.000 of rye. Grain quotes Friday basis Lakehead: High Low Close Flax May 1192 1166V4 Jly 1113 Oct 1028 1025 1025 Nov 1045 Rapeseed Vancouver Jan 808 793 793 Mar 776 747 752 .lun 709 685 685 Sep 665 Rapeseed Thunder Bay May 698 675 678 Jly" 669 Oct 650 Nov 639 Rye May 356 354 356 Jly" 337 Oct 325 Dec 340 Chicago markets CHICAGO (API futures came under relatively wide price swings on major exchanges in the United States this week. Silver futures pushed solidly ahead again, gaining as much as 25 cents on "buying linked to world monetary problems and rising gold prices. Copper, cocoa, wool and sugar futures also advanced while orange juice was little changed and cotton futures fell up to a bale. Wheat futures gained up to 28 cents a bushel on the board of trade with March 5.75 when trade ended Friday. Corn to }'z higher, March 2.94lti: oats IH-i to higher. March and soybeans 14 to March Soybean oil was 103 to 233 points higher. March 25.53; and soybean meal 50 cents a ton lower to 3.50 higher March 172.50. cattle fulures fell up to per hundredweight and pork bellies declin- ed 2B5 points on the mercantile ex- change. Live hogs gained nearly per hundredweight, while shell eggs fell up to 665 points. The demand for farm commodity futures on the board of trade was strong most of the week. However, when the gmernment reported what acreage farmers intend- ed to put into wheat, corn, uats and soybeans, some selling ensued. At week's end the government reported that stocks of grains in all positions as of Jan. 1 were lower than had been expected. All commodities advanced lo the limits allowed for one session and closed at those levels. At the close of the board session Friday, these were several million bushels of corn, wheat and soybeans lor purchase but sellers were absent. Worldwide monetary problems and soaring gold prices influenced silver and some other futures price movements inside and outside the U.S. it appeared, too, that some foreign in- terests were hedging in commodities against rising prices in F.urope and the Middle Kast. Price movements in grain futures, the weather and daily marketings affected cattle, hog and pork belly futures on the mercantile market. Selling of shell eggs was associated with declining red meat prices and im- proved egg production. Grain rlosc: Wheat: Mar 5.75; May 5.46'z- Jul 4.81 Sep 4.78; Dec 4.82. Corn: Mar 294'i: May Jul Sep Mar 2.76. Mar Mav Jul 1.64; Sep 1 B6 Ottawa Perlleh Calgary OTTAWA (CPi Receipts of slaughter cattle and calves declined about 600 head this week with 20.900 on offer at the 10 public stockyards, the agriculture department reported today. Toronto reported mid-week and closing losses totalling for A-l and A-2 steers. for A-l and A-2 heifers and for D-l and D-2 cows. In western, centres steer prices declined to (2.50 except in Edmonton where a net gain of was reported for steers and heifers. Heifer prices in all centres declined 50 cents to with D-l and D-2 cow prices moving shacply downward with losses of to reported. Receipts of feeder cattle and calves numbered about 19.600. a decline of more than 4.400. REPORTS LOSSES Toronto reported losses of for steers of more than 750 pounds and tor heifers of more than 550 pounds. Heifer calves. 401 to 550 pounds, declined to in mid-week trading. In western centres, prices were steady to low with Edmonton reporting losses on steers of more than 750 pounds. Heifers of more than 550 pounds lost 50 cents to at all centres with steer calves. 401 to 550 pounds, steady to lower and heifer calves. 401 to 550 pounds. to lower. Receipts of sheep and lambs totalled 2.700. an increase of about head. Good lamb prices in Toronto remained steady under a good demand with Edmonton reporting gains of under active trading. Index 100 hog prices declined 30 cents in Toronto with western centres uneven from lower to 50 cents higher. STOCKYARD PRICES Slaughter cattle, steers A-l and A-2: Calgary 50.50-54: Edmonton 47.50- 51.50: Saskatoon 49.25-51: Winnipeg 51- 52: Toronto 50-52: Montreal 51.50-54.75. Heifers, A-l and A-2: Calgary 42.50- 47.30: Edmonton 43.50-46; Saskatoon 42.50-44: Winnipeg 44-45: Toronto 46-48. D-l and D-2 cows: Calgary 30.50- 35.50: Edmontpn 30-34.50: Saskatoon 30-32.25; Winnipeg 32-33.50; Toronto 33- 34. Slaughter calves, good and choice veal: Saskatoon 50-57: Toronto 53-62; Montreal 60-70. Feeder steers more than 750 pounds: Calgary 45-52: Edmonton 45-53; Saskatoon 38-51.75: Winnipeg 50-54; Toronto 54-59. Good lambs: Calgary 37-39: Edmonton 39.50; Toronto 46-48. Index 100 hogs dressed: Calgary 45.50-49.30: Edmonton 44.85-49.20; Saskatoon 46.55-47.65; Winnipeg 46.25- 48.60; Toronto 51.50-53.95; Montreal 52- 53. Bonds GOVERNMENT OF CANADA BONDS Oct. 97.90 98.00 8 Jul. 102.25 102.75 Sept Sept 98.50 99.50 3 Sp15 Perp 38.00 40.00 6Vi% Apr. 99.55 99.65 Jul. 100.40 100.50 PROV. AND PROVINCIAL GUARANTEED BONDS: Alta '90 101.75 102.25 Ont 7 '88 37.50 38.50 OmHyd 9 '94 103.50 104.50 NB '90 105.50 106.50 Nfld 8 74 99.25 100.25 NS '92 80.50 81.50 Que 74 98.00 Alta '90 102.00 103.00 Man Hyd 8 '91 93.25 94.25 Sask '90 101.75 102.75 Nfld 9V4% '90 104.00 105.00 AGT 8 74 99.00 100.00 Man GT 8 74 99.00 100.00 INDUSTRIALS AGasTr 9V.% '90 101.00 102.50 Alcan '91 100.50 BCFor '92 101.50 103.50 BCTel 9V4% '90 101.00 103.00 Bel! Tel. 79 101.00 103-.00 Bell Tel 9H% '93 103.00 105.00 CP Ltd '89 99.00 CPSec '90 100.50 Cdn Util '91 103.00 CWNG '90 103.00 Gulf 8Vt% '90 99.25 100.25 InPrPp '90 101.00 103.00 Massey '80 101.00 103.00 Noranda '90 100.00 102.00 Intl Nick '90 101.50 102.00 NSC Gas '91 100.50 102.50 Steel Cda '90 102.00 104.00 TrCda Pp '90 103.00 105.00 TCda Pp 10% '90 106.00 W Trans '93 94.50 95.50 There were 2.058 head of livestock sold this week at 1'erlich Bros. Auction Market Ltd. Receipts included 1.401 cattle'and 657 hogs. Cattle and hog market was lower this week. Cattle prices 2 to 5 dollars lower. One lead of heifer calves sold to a U.S. order. Price quotations as follows: SLAUGHTER CATTLE Al and A2 steers 50: Dl and 02 heifers 43 to 44: Dl and D2 cows 30 to 33.10: D4 cows 23 to 29: Bologna bulls 36.30 to 40. REPLACEMENT CATTLE Steer calves. 250-400 Ibs. 48 to 52: steer calves 400-500 Ibs. 50 to 55.75: steer calves over 500 Ibs. 52 to 56.80: plain quality steer calves, all weights 40 to 49: Holstein steer calves 38 to 40: feeder steers under 800 Ibs.. 50 to 54.50: feeder steers over 800 Ibs.. 49 to 53.50; Holstein steers 35 to 39.30; heifer calves 250-400 Ibs.. 38 to 44.50: heifer calves 400-500 Ibs.. 40 to 46: heifer calves over 500 Ibs.. 40 to 45.25: plain quality heifer calves 35 to 39: feeder heifers 38 to 44.10: feeder cows 27 to 33: medium quality stock cows and heifers 330 to 420. HOGS. DAIRY CATTLE Market hogs dressed weight, 44 to 48.55: good weaners 12 to 16: light weaners 9 to 12; feeders under 100 Ibs.. 22 to 35: feeders over 100 Ibs 35 to 57; bred sows and gilts 86 to 140; medium quality dairy cows 350 So 430. Lethbridge Sales Monday to Friday: 378. 144 cattle: 234 calves; hogs. 374 lambs. SUMMARY Butcher cattle prices up to 3 lower. Trade slow. Most classes of slaughter cattle showed sharply lower prices compared with last week slaughter steers 3 lower. Slaughter heifers lower but lacked sufficient numbers to make reliable quotations. Medium and good siocker and feeder cattle meeting fair demand. Good stock calves were about steady while medium kinds sold at lower prices. SLAUGHTER CATTLE Steers Al and Cows Dl and D2 31.50-32.50. D3 30.50- 31.50, D4 26-30.50. Good bulls 37- 41.60. REPLACEMENT CATTLE Heavy feeder steers over 750 Ibs. 45.25-49.25. Dairy type feeder steers over 750 Ibs. 40-42.50. Light feeder steers 550-750 Ibs. 46.25-53.20. Good stock steer calves all weights 51-56. Good stock heifer calves all weights 40-46.50. Good stock cows HOGS AND LAMBS Butcher hogs sold this week at the Lethbridge Yards 44-49 base price. 586 hogs were sold for export at 34.75-39 liveweight. All classes of weaner and feeder hogs meeting only fair demand. Weaners 12-21.50. Light feeders under 100 Ibs. 23.50-32. Heavy feeders 100-130 Ibs. 37.50-40.50. Heavy feeders over 130 Ibs. 46-51 all prices per head. Light feeders under 100 Ibs. sold from 30.50- 42.75 per cwt. Heavy feeders over 100 Ibs. sold from 29-35 per cwt. Bred sows 60-110. Boars 55-110 per head. Good lambs 37-38. CALGARY (CP) Friday's sales at the Calgary Public Stockyards includ- ed 419 cattle. 629 calves and 109 hogs. Good stock steer calves over 400 pounds 45-55 with sales to 57.90. Good stock heifer calves over 400 pounds 38- 44 with sales to 45.90. The rest of the cattle report was unchanged from the morning quotations. Butcher hogs 47.50-47.55 base price. prices EDMONTON (CPi Weekly egg and poultry report issued by the federal agriculture department: EUGS To producers: A large 71: A medium 68: A small 50: B 51: C 10: cracks 28. To retailers: A large 82-84: A medium 80-81: A small 65-79, (two cents extra in cartons) To consumers: (in A large 85-93: A medium 81-89: A small 75. POULTRY To producers: Live No. 1 chicken broilers. 34'z: 6 and over, 39: <5 and under 6. fowl under 4, 10-12; turkey under 12, 47; 12 to 18. over 18. 45. Live No. 2 chicken 6 and over, 35: 5 and under 6.29'a: turkey under 12. 44: 12 to 18. 45'2: over 18. 43. Hog prices EDMONTON (CP) Closing average prices provided by the Alberta Hog Producers marketing board with Thursday average in brackets: Edmonton: 48.60 Red Deer: 48.62 Calgary: 48.46 Lethbridge: Nil Lloydminster: Nil Fort.Macleod: Nil Total hog sales average 48.56. No sows sold. Alberta grain EDMONTON (ACN) Last year's drought conditions in Southern Alberta are continuing to be reflected in feed grain prices reported from Lethbridge and Medicine Hat. These and other areas are also aggravated by the constant escalation of the Canadian Wheat Board domestic prices. Buyers in the Lethbridge area are bidding wheat oats and barley Medicine Hat Brooks area advise wheat oats and barley The Calgary reporter quotes the following wheat oats and barley In the Red Deer district wheat oats and barley The Vermilion area reflecting no change with wheat oats and barley This week's report from Edmonton and district show wheat weakening and other grains slightly stronger. Wheat oats and barley The Peace River area reporting wheat oats and barley WANTID SCRAP IRON Now Paying More For All Types Of Scrap Metal Farm Industrial Anything of Ironl COPPER BRASS RADIATORS BATTERIES CAST IRON Truck Megnet Crane Service National Salvage Company LIMITED NEW LOCATION 206 33rd Street North Phona 328-1721 "Scrap is Our Business" PICTURE BUTTE AUCTION MARKET IdMlly loceted In the centre el lerge cattle feeding end hdg raiting country HOG RANCH CALVES Feeder and Fat Cattle Wed., Jan. p.m. All 01 cettle Highlighted by 50 Holstein steers- 700 to aor i 800 Ibs. from one owner. For Information and Littlngi Contact Trucking Branding Vaccinating Order Buying Government Veterinary Feeding Pens AND DAIRY CATTLE SALE Saturday at 1 p.m. MARKET HOGS ASSEMBLED MONDAY THRU FRIDAY JIM or JOE JURIS Picture Bulte Auction Market Picture Alberta Auction market loceted 16 north of Lethbridge on 25 Phone 732-4400' Picture 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 ;