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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 21, 1974, Lethbridge, Alberta Friday, June 21, 1974 THE LETHBRIDGE HERALD Packard clubbers meet Bev Ferreira is shown with his pride and joy, a 1937 convertible V-12 coupe- roadster Packard. He is one of 150 Packard owners who have gathered in San Francisco to compare their Packards built between 1899 and 1956. Crop seeding operations in west near completion OTTAWA (CP) Prairie seeding operations, slowed by a wet spring this year, are almost completed. Statistics Canada reported Thursday. Good weather during the last week helped farmers seed all but low-lying spots and some abnormally wet areas in Manitoba, the statistics bureau said in the fifth of 11 reports on Prairie crop conditions. The bureau said crops are growing "very well in all dis- tricts" now seeded, but that there are heavy weed in- festations. Hay and pastures in Manitoba and Saskatchewan tend to be in good shape, but rain is needed for Alberta pasture crops. By province, crop con- ditions look like this: Manitoba: Seeding progressed rapidly last week. About 95 per cent of the crop is planted in the western part of the province, 90 per cent in the central district and 75 per cent in the damp eastern and Interlake region. In the wetter areas, farmers have seeded less wheat than they originally planned, plan- ting faster maturing oilseed and coarse grain crops instead. Saskatchewan: Seeding is practically finished and warmer weather is prompting fast growth. Weeds, par- ticularly wild oats are a serious problem because of the late wet spring. Farmers are spraying to kill weeds and to control grasshopper out- breaks. Alberta: Seeding is virtually Word meanings on economic scene changing NEW YORK (API So extreme is the current economic scene that the meanings of trusted old words are being strained. Some may well be abandoned for the time being in favor of more descrip- tive terms, such as: shock market, otherwise known as the stock market. For those seeking big capital gains it has been just one shock after another. Sorrie investors now are so punchy they fear an advance, convinced it is only the prelude (o a bigger decline. Some analysis have attempted to cushion the blows by adopting a uniformly pessimistic outlook, reasoning that if you don't hope you can't get shocked. crime rate. still known popularly as the prime rate, or the borrowing charge that banks assess their best corporate customers. It now is so high that many borrowers are convinced it is plain robbery. Ironically, the justification offered for high interest rates is that they are anti- inflationary. Ravings, some- times known as savings. The latter term still might be service- able if money left in the bank really grew. But it seldom does anymore. It can't grow, in fact, if the rate of inflation ex- ceeds the interest rate. fudge-it, also called the budget. Most families have what they call a budget to help them allocate funds, to aid them in using their money wisely, to help prevent waste. But then they fudge. completed except for small areas of barley and rapeseed in the northeast and Peace River districts. As in Saskatchewan, warm weather during the last week has promptecLfast crop growth. New motor vehicles sales drop OTTAWA (CP) New motor vehicles sold to the end of April totalled a 3.4- per-cent drop in sales com- pared with the same period last year.. Statistics Canada said Thursday. Sales for the first four months were valued at million, a 5.2-per-cent increase from the million for the corresponding period in 1973. Vehicles sold in April totall- ed 123.980 compared with 841 last year. The following breakdown was issued for April: Passenger car sales, including taxis and auto ren- tals. compared with last year's 104.782. a drop of 10.4 per cent. Of these, were manufactured in Canada and the'United States compared with in 1973, a difference of 2.6 per cent. Only 7.466 were manufactured in Japan, a drop of 58.5 per cent from last year's sales of Cars from Europe numbered a drop in last year's sales of by 36.8 per cent. A total of 11.717 imported cars were sold in April, a drop of 52.6 per cent from the 24.723 in the same month a year ago. The number of commercial vehicles of Canadian manufacture including trucks and buses was 28.599, up 26.1 per cent from 22.682 last year. Imported commercial vehicles sold were com- pared with 2.377 sold last year, a drop of 35.6 per cent. Sales on buses and coaches rose 71.1 per cent 195 com- pared with 114. Farmers Public attitudes inflation cause warned WINNIPEG Thursday's closing metals bid-ask in pounds sterling a metric ton. silver in pence a troy ounce Copper Spot 97S-9W. futures 967- 968 Tin Spnl 3.750-3.740. futures 3.PW- 3.TO5 Spot future? 236- Zinc Spot 56P-SS7. futures Silver Spot Missinc. 3 months Missinc. Gold futures V S Wimuprc Thursday .lly 7? IS! JflV on 71 1.S73M. an'Tfi 1S24MV IfTTSfi. .lly Wrdnfcrtsn vnliimr lOO-minrc ronlrartv Vic 74 1S42.S 74 1W "i Ifil Ms> 7S W line 75, 17.S Js-. volume Treasury bills house Elec 15 50 US S1K-I Gen Tfl Eire 22 00 TORONTO AVERAGES 20 Inriuslnsls 16854 (low 1 61 20 GolflS 43266 up 09 10 Base Melais 81 56 down 6E 15 Wp.Mfrrn Oils 18494 down 1 D? Volun-T 671 000 1JEW YORK AVERAGES 20 Industrials 817 04 down 3 75 20 Rails 167 01 1 06 15 6637 down 51 65 Slocks 245 72 down 1 33 Volun-'p 5 fiOO 000 Canada Resources 11 cents to United Siscoe rose 'z to and Pamour VB to United Canso was down' vz to Canada Northwest to and Canadian Homestead 10 cents to Francana gained Vs to Dover was up 1 to Power Corp. to and Bombardier A 10 cents to NEW YORK (API Prime rate increases by two major New York banks heiped push the stock market into a broad decline today. The a m. Dow Jones average of 30 industrials was down 4.69 at 816.10. and losers overwhelmed gainers by close to a four-to-one margin on the New York Stock Exchange Trading was brisk at '..he outset, after First National City Bank and Morgan Guaranty Trust increased their rates on loans to large cor- porations from 11' i to 11' 2 per cent But activity slowed and prices appeared to level off late in the mor- ning. In another bit of negative news, the U.S. government reported today the consumer price index had climbed sflarply in May after a comparatively moderate rise in April. Such interest- sensitive issues as savings and loans and real estate investment trusts were conspicuous losers Great Western Financial was down at Lomas and Nettleton Financial '2 at BT Mortgage Investors 1 at Continental Illinois Realty and Great American Mortgage Investors at 6'? National Union Electric, the NYSE's most active issue, gained 5'i to i. McDonald's lost 2' i to S55. Currencies MONTREAL iCPi Friday's mid- day foreign exchange selling rates supplied by the Bank oi Montreal. Australia dollar 1 Bermuda dollar 1.01 China renminbi 5100 Denmark kroner .1H90 France franc 2020 Germany mark .'.WO Italy lira 001535 .Japan yen .003480 Mexico peso .0789 Netherlands guilder :iH95 Spain peseta 0172 Switzerland franc I'nitcti States dollar .9695 I'mted Kingdom pound 2.3400 Quotations in Canadian iunds Beef futures WINNIPEG 'CP> Live beef futures close Thursday July 45.85N: Sept 42 OOB. Nov Jan. 43 SON W'ednesdav's volume No contracts Feed prices WINNIPEG cCPi Wheat board domestic feed grain prices' 3CW red spring wheat 3.49: No. 1 feed barley No. 1 feed oats 1 76 MONTREAL 'CP' I'.S. dollar in terms of Canadian funds at noon today was up 19-50 at SO 97 4-25 Pound sterling was up 11-50 at S2S1 31-50 In New York, the Canadian dollar was down 3-10 at Pound sterling was down 9-20 at 38 2-5 SALVAGE New Safeway Mobile Home Serial No. 60EXXB2967 light half 60 x 12' of double wide can be seen at Safeway Shelter System Ltd. south of Hangar No. 1, Claresholm remit bids to Undersigned CROSLAND PEACOCK LETH. CO. LTD. 519-7th St. S. Lethbridge, Alberta >CPi New Si-day iTfviMirv hills ntufi million s1 an averaur pure nl ;jTirl ;jn svcrncr irlri f> W! per crnl ]jsM wck million avttnef pr iff r'f Wi ATirl averaw yield "i R M