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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 6, 1974, Lethbridge, Alberta I LC I nDni WE. vi Markets continue to fall By WENDY ROSEN The Canadian Press Major Canadian stock markets fell for the fourth consecutive week as investors postponed trading until after Monday's federal election. Holidays in NO SALE MONDAY REGULAR CATTLE SALE Regular Monday Sale at 11 a.m. HOG SALE every WEDNESDAY We will be assembling Market Hogs for the Marketing Board and sell Weaner and Feeder HogsatlsOOp.m. NO HOGS WILL BE SOLD MONDAYS REGULAR CATTLE SALES WILL CONTINUE EVERY MONDAY 1 Don't be content to accept one offer at consign your live- stock to where you are guaranteed to have the Auction Fling full of Buyers to bid on your oroduct. PRAIRIE LIVESTOCK LTD. PHONE TABER DAY OR NIGHT Auctioneer JOHNNY CHARLTON Salea Manager Lie. 293 GARY JENSEN THE STOCKMAN'S MARKET HOGS SELL at 1 p.m. Dairy Cows Baby Calves Sheep Market Hogs Shipped Daily Live Weight and Dressed Basis YEARLING FEEDER AND FAT CATTLE AND CALVES Thursday -1 p.m. A.6.T. POLE AUCTION July 9 p.m. at CARDSTON 720 ft. Cross ft. Cross Arms. JASPERSON BROS. FARMS NEW BREEDS DISPERSION SALE July 24 1 p.m. PERLICH BROS. SALES PAVILION. LETHBRIDGE Llttingl include 3 Yearling V4 Blood Gelbveih Heifers 1 Yearling Vi Blood Chignina Heifer 12 'A Blood Chianina Heifers with Dams 12 Vi Blood Pinzgauer Heifers with Dams 5 Blood Blonde Bulls with Dams 12 Blood Chianina Bulls with Dams 8 Vz Blood Pinzgauer Bulls with Dams 1 '6 Blood Brown Swiss Heifer with Dam 35 Yearling Brown Swiss Heifers Bred Blonde D'Aquitaine QUEST Doug Mills. Alberta 4 Vz Blood Normandy Heifers with Dams 6 Vi Blood Gelbveih Heifers with Dams JAY Alberta 8 Blood Maine Anjou Heifers with Dams BOB Lelhbrldge. Alberta 4 Hereford Cows Bred to Calve this Fall. October and November. CONTRACTORS CONSIGN YOUR NEW AND USED EQUIPMENT TO ANOTHER GIGANTIC EQUIPMENT AUCTION AUGUST 3 a.m. LIST Contact TONY Sales Phone Coaldale PERLICH BROS. AUCTION MARKET LTD. Located In the Hub of Southern Alberta'a Lhreetock Induetry 3 mllee oett of on Highway 3 and mile iautt BOX LETHBRIDQE T1J4A2 Phono Day or Night 329-3101 OUR NEW PHONE NUMBER 329-3101 Company UOMM No. 07146S JOE PERLICH Lie. 010M3 BOB BALOQ Lie. 0674S4 TONY PBRLICH Lie. 010M2 Canada and the United States also contributed to slow trading activity. Analysts say the election will be c. dominating influence on Canadian markets for at least the next week. A strong showing by one of the major parties could trigger a they at least for the short term. The market rebounded Thursday and Friday but did not recover all the losses suffered earlier in the week. At the industrial index fell .48 to close the week at 182.91. The index rose Thursday for the first time in six sessions and the Wednesday close was the lowest since Dec. 1971. CONCERN ABOUT RATES High interest rates are also causing investors concern. While no bank has yet followed Bank of Montreal's lead in raising the prime lending rate to a record 11'-4 per analysts say pressure may be building for another general increase. In the United the upward trend of interest rates has continued. Several major banks raised their prime rate to a record 12 per cent and analysts say further increases are pos- sible. At New the Dow Jones average of 30 industrials fell 10.63 on the week to close Friday at 791.77. a low since Dec. Friday's volume was the lowest since Oct. 1971. The Montreal industrial index rose .53 to 195.61 but the composite index fell .07 to 184.89. Trading was light at 2.31 million shares worth million compared with 3.29 million shares and S20.64 million a week earlier. At the base metal index closed Friday at down 1.17 on tile week. Base metals Wednesday touched a low since Dec. 1971. OILS DRIFT LOWER The western oil index rose 5.19 to close Friday at 183.79. Oil shares Wednesday recorded a low since Sept. 3. 1970. Gold share prices continue to reacting to declines on the European gold markets. The Toronto gold index lost 10.62 on the week to close at 409.19. Trading during the four-day week was light with 5.SI million shares worth S44 75 million compared with 7.22 million shares and 564.07 million the previous week. Thursday's volume was the lowest since Jan. 1972. Analysts say a key to the recovery in stock prices over the long term in Canada is a turnaround in interest rates and a cooling of inflation. A sus- tainable rise in stock they is unlikely until there is clarification of government policies towards business. Bonds GOVERNMENT OF CANADA BONDS Oct. 95.75 Jul. 98.00 Sept 72.00 Sept 67.00 Sept 15 34.00 Apr. Jul. 98.50 PROV. 8. GUARANTEED Alta 90.50 Ont 78.00 Ont H 91.50 NB Nfld NS 92.00 Que Alta 99.00 Man H 82.00 Sask 89.00 Nfld 100.00 AGT MGT Alta Gas Alcan BC For BC Tel Bell Tel Bell Tel CP Ltd CP Sec CU Intl Cdn W N Gulf In Pipe Massey Noranda 3VM Intl Nick N C Gas Steel Cda Tr-Cda Tr-Cda Pipe West Tr Acklands 90.00 Alta Gas '90 120.00 Con Gas 72.00 Scur Rain 82.00 West C 68.00 West Tr 88.00 Egg prices EDMONTON Weekly egg and poultry report issued by the federal agriculture To A large A medium 69. A small B C cracks 27. To A large 81 to A medium 79 to A small 60 to 69. To consumers A large 92 to A medium A small 75 to 79. To Live No. 1 chicken Broilers. 6 and 5 and un- der 6. 34. Turkey Under 12. 12 to 18. over 41. Live No. 2 chicken 6 and over. 5 and under turkey Under 12 to over The Herald Business Livestock Perllch There were 784 head of livestock sold this week at Perlich Bros. Auction Market Ltd. Receipts included 366 cat- tle and 418 hogs. Tiie cattle market showed lot more optimism on all classes. Prices were 2 to 3 dollars higher on all classes. SLAUGHTER CATTLE Al and A2 steers 47.00 to 48.00. Al and A2 heifers 39.40 to 42.35. Holstein steers to 41.25. and D2 cows 28.00 to 31.70. D4 cows 22.00 to 27.00. Bologna bulls 30.00 to 32.00. REPLACEMENT CATTLE Steer calves 250 to 400 Ibs. 45.00 to 48.00. Plain quality steer calves all weights 40.00 to 45.00. Feeder steers under 800 Ibs. 43.00 to 45.60. Feeder steers over 800 Ibs. 43.00 to 45.00. Holstein steers 35.00 to 36.75. Heifer calves 250 to 400 Ibs. 40.00 to 42.50. Winnipeg grain WINNIPEG Rye prices rallied in late trading Friday on the Winnipeg Commodity but other commodities remained down near or at opening levels in light trading. Vancouver rapeseed lost as much as 20 and Thunder Bay rapeseed while generally were also down. Flax was between 10 and 21 cents below previous close levels. Thursday's volume of trade was 000 bushels of flax. of rapeseed and of rye. Closing July 21 cents lower Oct. 21 lower Nov. 10 lower Dec. 1 lower 8.94A. Vancouver Sept. 20 lower Nov. 17'i lower Jan. 20 lower Mar 11'A lower 5.95 ViB. Thunder Bay July 20 lower Oct. 12 lower Nov. seven lower Dec. unchanged 5.69A. July IVi lower Oct. 16 higher Dec. higher May 2 lower 2.78A. Grain quotes Friday Plain quality heifer calves 33.00 to 37.00. Feeder heifers 35.00 to 38.25. Plain quality pairs 275.00 to 297.00. HOGS DAIRY CATTLE Market hogs liveweight 29.66. Good weaners 11.00 to 16.00. Light weaners 6.25 to 10.00. Feeders over 100 Ibs. 40.00 to 50.25. Bred sows and gilts 55.00 to 65.00. Holstein heifer calves 122.00 to 175.00. Yearling holstein heifers 200.00 to 300.00. Long yearling holstein heifers 300.00 to 365.00. Alberta grain EDMONTON The Alberta Grain Commission in its weekly report on Friday said prices on oats and barley fluctuated normally but wheat bids varying noticeably. Good quality wheat appears scarce in some areas. Around Lethbridge prices ranging as wheat to oats to and barley to The Medicine Hat-Brooks area quo- ting wheat oats to and barley to Calgary buyers reported bidding wheat to oats to and barley to From Red Deer and district prices received are wheat to oats to and barley to Vermilion prices remain unchanged with wheat to oats to and barley to Edmonton area buyers quoting wheat to oats to and barley to Prices received from the Peace River district are wheat to oats to and barley to Feed corn per bushel f.o.b. Calgary. Flax Jly Oct Nov Dec High 970 955 895 Low 960'4 950 894 Rapeseed Vancouver Sep 720 Nov 635 628'A Jan 704 Mar Rapeseed Thunder Bay Jly Oct Nov Dec Rye Jly Oct Dec May 279 Close 960 950 913 894 713 W 631 704 618 618 583 278 H4Q2 A First in Transfer Pumps COMPLETELY PORTABLE NEVER NEEDS PRIMING Features Weight-20 Ibs. Noncorrosive plastic and stainless steel parts. Never needs priming. Draws only 20-27 amps. Eliminates suction check re- lief gears and belts. OLIVER INDUSTRIAL SUPPLY LTD. 236-36 St. North Phono 327-1571 or contact tho 'OLIVER rwaratt you. Stocks close TORONTO The stock market was higher at the close of light trading Friday. Preliminary index figures had in- dustrials up 2.26 to golds up 6.77 to base metals up 1.79 to 77.79 and western oils up 7.20 to 183.79. Final volume was 1.37 million shares compared with shares Thur- sday. In Falconbridge Nickel gained to Imperial Oil A to Home Oil A to Shell Canada I'A to and Canadian Tire A IVs to Camflo rose 1 to Sherrilt to Hudson Bay Mining A to and Dynasty to Ranger was up to Numac to and Siebans 1 to Texaco Canada lost to Tara to and Jelex one cent to 14 cents. MONTREAL Prices were mixed in light trading at the close on the Montreal Stock Exchange Friday. Volume was shares com- pared with 316.434 at the same time Thursday. Industrials rose 2.02 to the composite 1.32 to utilities .49 to 123.52 and papers .06 to 115.47 while banks dropped 1.95 to 225.42. Husky Oil rose to Alcan to and Northern Electric to while Canadian Imperial Bank dropped Vi to and Algoma Steel to Among speculative Beaver Mining dropped one cent to after trading shares. NEW YORK Prices edged lower in one of the stock market's slowest sessions in recent years Friday. The Dow Jones average of 30 in- dustrials closed at down 1.10. Among Canadian Mclntyre was up 2 to Canadian Pacific to Dome Mines 'A to Hiram Walker Vi to Inco 'A to Massey Ferguson tc Seagrams was unchanged Jt Alcan at Gold WINNIPEG Gold U.S. Winnipeg Commodity Ex- 400-OUNCE July 74 Ocl 74 Jan 75 Apr 75 Jly 75 I56.00A. Thursday's 179 contracts. IDO-ounce Aug 74 Nov 74 Fcb 75 May 75 Aug 75 I58.60B. Ottawa OTTAWA Receipts of slaughter cattle and calves in nine public stockyards dropped 75 head this week to the federal agriculture department reported Friday. Feeder cattle offered numbered 025 down 825 from last week. The number of sheep and lambs was up 25 to Broad demand in Toronto for slaughter steers in early and midweek trading resulted in price increases of Prices were steady to 50 cents lower at closing. Good demand on a light supply of A- A2 heifers resulted in a midweek increases of to Prices for D2 cows were steady under moderate trading. In western centres good demand for A2 steers brought steady prices. In prices on A2 heifers rose under active trading. Veal calf prices in Toronto dropped at closing under moderate trading. Good demand in Toronto for a light of feeder steers and heifers resulted in steady prices for most classes. Prices on steer 401 to 575 dropped to in midweek trading under moderate demand. Moderate demand for all classes of feeders brought steady prices in Win- nipeg and Saskatoon. Prices on steers of more than 750 pounds and heifers of more than 550 pounds rose 50 cents in Edmonton in midweek under moderate demand for a light supply. Good lamb prices in Toronto were steady under active trading. Index 100 hog prices in Toronto dropped 75 cents in early trading but gained by closing. Prices rose in Winnipeg throughout the clos- ing higher. Prices in Saskatoon dropped Alberta markets were barely steady. Slaughter steers A-l and Calgary Edmonton Saskatoon Winnipeg Toronto 48.50-50.50. Heifers A-l and Calgary Edmonton Saskatoon Winnpeg Toronto 41-44. D-l and Calgary Ed- monton Winnipeg Toronto 32-33. Slaughter good and choice Toronto Montreal 50-58.60. Feeder steers over 750 Calgary Edmonton Saskatoon Winnipeg 38-40. Feeder steer calves 401-575 Edmonton Winnipeg Toronto 44-50. Good Edmonton Toronto 50-60. Index 100 hogs Calgary Winnipeg Toronto Montreal 42.57-42.58. Peed prices WINNIPEG Wheat board domestic feed grain prices 3 cw red spring wheat No. 1 feed barley No. 1 feed oats 1.77. Hog prices EDMONTON Average clos- ing prices Friday provided by the Alberta Hog Producers marketing board. Thursday's average in 38.81 Red 38.50 Total hogs sold average total sows sold average Cutter's dream Asparagus nor- mally a back-breaking has entered the machine age on Kerr Farms near Ont. The seated workers stradle the rows of aspar- agus as the self-propel- led vehicle moves slowly through the rows of vege- tables and place the cut- tings in boxes attached to the frame. A canvas sun shade can be unrolled the full width of the frame to protect the workers. Metals LONDON Friday's closing metals bid-ask in pounds sterling a metric silver in pence a troy Copper Spot futures 827- 828 Tin Spot futures 3.480 Lead Spot futures 219.5- 220 Zinc Spot futures 444-445 Silver Spot 3 months 181- 181.5. Beef futures WINNIPEG Live beef futures close Friday. July Sept. Jan. 44.10. Thursday's No contracts. Chicago CHICAGO Farm commodity futures generally improved In price during the July 4 holiday abbreviated week that ended but silver futures fell back posting a loss of up to 57 cents an ounce for the four days. The decline in silver futures marked the fourth straight week the price of this commodity has been easing. The total loss in silver futures amounted to an ounce. Its fall has been generally in line with the decline of gold prices on the world's leading markets. For the Chicago wheat gained 18 to 25 cents a July Gulf hard red wheat did not trade all corn 14 to 18'A July oats 6 to -9V2 July and soybeans 34 V2 to 54 July 6.22. Soybean oil 185 to 335 points higher. July and soybean meal to a ton July 111.50. Cattle and hog futures increased to a hundredweight on the mer- cantile and pork bellies gained some 300 points while shell eggs were up as much as 320 points. The sharp increase in soybeans futures followed a decision by Brazil to hold back export licences involving soybeans and products. This might make United States soybeans more attractive to European countries. Gains in soy oil and meal generally followed the moves in soybeans. The weather and very light move- ment of the new winter wheat old corn and oats into commercial channels were factors in the demand for these futures. Light marketings by producers was a major factor in the strength of live cat- tle and live hog futures. Prices at the consumer level were beginning to reflect the futures demand. Pork bellies and shell eggs also improved on light movements of products to markets. The price of gold fell to its lowest in about five months on European money markets and silver futures again reflected this weakness. The day-to- day price movements were not always in line with gold however. cocoa and wool prices also showed some weakness after four trading but world coffee and orange juice futures posted small gains. DERME MACHINE SHOP A COMPLETE AUTOMOTIVE GENERAL MACHINE SHOP SERVICE 12c STREET NORTH STARLITE MOTEL COMPLETE DISPERSION AUCTION SALE at the Motel Mayor Magralh Drive and 10th Ave. S.. Lelhbridga July p.m. TERMS CASH NO RESERVE Having received instructions from the who have sold the we will sell the Approx. 20 double 9 single approx. 15 single pedestal desks for Approx. 15 night Approx. 35 occasional and straight 2 Good 9' arborite display Coin operated pop Small Floor Table TV and small Large 4 cdffee Shower Large quantity of Bedspreads and Pillow Waste Many more items too numerous to mention. For Further Information Contact Hurlburt Auction Service Phoni 328-4705 TED NEWBY Lie. 010283-41 1920 2nd AVI. S.. LelhbridQi KEITH ERDMANN Lie. 012116-458 PICTURE BUTTE AUCTION MARKET Ideally located In centra of large cattle feedlnc and hog rilling country HOG AND DAIRY CATTLE SALE RANCH CALVES Feeder and Fat Cattle July 10th at p.m. 200 to 300 HEAD Trucking Branding Vaccinating Buying Government Veterinary Feeding Pens EVERY Saturday at 1 p.m. MARKET HOGS ASSEMBLED MONDAY THRU FRIDAY For Information and Lhrtlnge Contact JIM or JOE JURIS Picture BuHe Auction Alberta Auction market located 16 mllea norHi ol Lethbridge on Highway 25 Phone 732-4400 PICTURE BUTTE ;