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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - May 16, 1970, Lethbridge, Alberta Saturday, May 16, 1970 - THE LETHBRIDGE HERALD - 21 Investors 1 Wait 5 ^orry Ottawa Weekly Livestock Report OTTAWA (CP) - Cattle offerings at Canada's 10 public stockyards from Monday to Thursday this week at 27,500 head were about 500 fewer than last week and the corresponding week a year ago. Exports of beef cattle to the U.S. last week were slightly higher at 519 head, and consisted mostly of slaughter cattle over 700 pounds, the federal agriculture department's weekly livestock report stated. An improved wholesale beef trade resulted in scattered price advances* in all classes of slaughter cattle. Steers and heifers were steady to 50 cents higher. Cows recovered most of last week's losses with gains of 50 cents to $1. Feeder cattle met a good demand at prices mainly steady to $1 higher. Veal calves were in demfend at steady to stronger prices. Hog prices fluctuated up and down throughout the week, and the limited supplies of good lambs were mainly unchanged. Choice steers: Montreal 32.50 to 34.10; Toronto 32.50 to 34; Winnipeg 32.50 to 33; Saskatoon 30.75 to 31.75; Edmonton 31 to 31,75; Calgary 31 to 32. Good heifers: Montreal 25.50 to 26.75; Toronto 30 to 31; Winnipeg 29.50 to 30; Saskatoon 27 to 28.50; Edmonton 28 to 29; Calgary 28.50 to 29.25. Good cows: Montreal 23 to 25.50; Toronto 23 to 24.50; Winnipeg 23 to 24.50; Saskatoon 22.50 to 23.75; Edmonton 22 to 23; Calgary 21.50 to 23. Good feeder steers: Toronto ;]3 to 36; Winnipeg ;,i .> r.3; Saskatoon 30 to 35; Edmonton 29 to 36; Calgary 30 to 34.50. Net Earnings By THE CANADIAN PRESS Consumers Gas Co., six months ended March 31: 1970, $14,842,000, 82 cents a share; 1969, $13,867,000, 77 cents. Double Manufacturing Industries Ltd. three months ended March 31: 1970, $3,918, 1 cent a share; 1969, $94,549,27 cents. New Imperial Mines Ltd., three montlis ended March 31: 1970, $503,733, 6 cents a share; 1969, 542,323, 8.5 cents. Major Holdings and Development Ltd., year ended Jan. 31: 1970, $174,897; 1969, $171,960. Reid Lithographing Co., three months ended March 31: 1970, $69,490, 39 cents a share; 1969, $65,587, 36 cents. Selkirk Holdings Ltd., year ended Dec. 31: 1969, $591,754; 1968, $518,683. Good and choice veal calves: Montreal 38.50 to 46; Toronto 37 to 47; Winnipeg 45 to 50; Saskatoon 38 to 39.50; Edmonton 45 to 50. Good lambs: Toronto 30 to 38; Winnipeg 45 to 50; Saska toon 28.50; Edmonton 32.50. Basic hogs: Montreal 32 to 33; Toronto 33.35 to 34.50; Winnipeg 31.15 to 32.65; Saskatoon 30.35 to 31.40; Edmonton 29.95 to 30.35; Calgary 30.35 to 31.10. Lethbridge Livestock Sales Monday to Friday, 441 cattle; 25 calves; 2,145 hogs; 70 lambs. Butcher cattle prices steady to 50 cents* higher in spots. Replacement cattle steady to strong. Cattle market active. Good and choice butcher steers met very good demand, prices fully steady. Med i u m grades about steady. Good and choice butcher heifer scarce and selling steady. Medium and gocd cows selling around 50 higher, with odd heifery kinds topping 23. Bulls steady. Medium and good stocker and feeder steers meeting reason- ably good demand prices generally steady. Light stock steer and heifer calves $1 more higher. SLAUGHTERS Steers, choice, 30.75 to 31.60, good 30 to 30.75, medium 28 to 29.75. Heifers, choice 29 to 29.60, good 28 to 28.75, medium 26.50 to 27.50. Cows, good 22 to 23, medium 20.50 to 21.50, canners and cutters 17 to 20. Bulls1, good 26.50 to 27.50. REPLACEMENTS Good heavy feeder steers 30 to 32, medium 26.50 to 29.50. Good light stock steers, 32 to 34.50. Good feeder heifers, 30 to 32. Good stock steer calves 250 to 350 lbs., 36 to 40. Good stock heifer calves 250 to 350 lbs. 34.50 to 37.50. HOGS, LAMBS Butcher hogs sold this week F.O.B. Lethbridge 29 to 30.50 base price. Weaner and feeder hogs sold about steady. Wean-ers 16 to 22.50. Light feeders under 100 lbs. 24.25 to 30. Heavy feeders over 100 lbs. 29 to 39.25, all prices per head. Light feeders under 100 lbs. 35 to 40 per hundredweight. Heavy feeders over 100 lbs. 22 to 28 per hundredweight. There were By ART JOHNSON Canadian Press Staff Writer Tlie bear market on Canadian stock exchanges this week may have been forced into hibernation-at least temporarily-by a sharp technical raMy. But how long the hibernation will last is a matter of speculation among observers. Most analysts agree that a sharp advance which began Friday is temporary because the same factors which caused the plunge still prevail. Some observers said Friday's advance was merely a long-overdue adjustment of eroded prices. The more optimistic pre- dict an uptrend lasting perhaps a week. They said the rally came when a substantial number of investors felt markets had bottomed out and would not move down further. The pessimists point out that disappoint! ng quarterly corporate earnings, the federal government's tight^money policies and political tensions in the Middle East, Vietnam and Cambodia still bear down on investors. RALLY LEVELS OFF The rally levelled off Friday after about two hours of trading when a number of issues began to be traded at a gain of about one point. Livestock Taber Livestock TABER - Trade once again was fairly active at the Prairie Livestock Ltd. sale with most classes holding steady with last weeks sale. Feeder cows were down ubout $2. Butcher cows "down $1. Stock cows stronger. Yearling feeder steers and heifers steady. Steer and heifer calves steady. Weaner hogs up $4. Feeder hogs up $2 to $3. Feeder cows 22,50 to 24.50; good butcher cows 22.50 to 23.50, fair to medium butcher cows 20.25 to 22.25; stock cows $250 i to $385. Good yearling feeder steers 32.50 to 35.90, fair to medium 30.75 to 32.25; good yearling feeder heifers over 550 lbs. 30.25 to 32.50, fair to medium 28.50 to 30.25. Good steer calve* 38.75 to 42; fair to medium 35.50 to 38.50; good heifer calves 33.50 to 35.25, fair to medium 31.75 to 33.25; baby calves 67.50 to 70. Weaner hogs 17 to 23; bred cows 72 to 107.50; feeder hogs to 45. No sale Monday, May 18. Perlich Livestock There were 968 head of livestock sold this week at Perlich Bros. Auction Market Ltd. Receipts included 514 cattle and 454 hogs. The cattle market was generally steady on all classes; butcher cows sold stronger; price quotations were as follows: SLAUGHTERS Steers, choice, none on offer; good 30 to 30.80. Good heifers, 28.50 to 29.20; good cows 22.50 to 23.70; some sales higher on little heifers; medium 21 to 22; canners and feeder cows 21 to 23.20, cows 18 to 20.50. Stock steer calves only on offer and these sold 35. Heifer calves 32 to 34. older a few 34 to HOGS, DAIRY CATTLE Ihe hog market was- steady to lower this week. All classes of weaners selling lower. Wean-ers 16.50 to 19; big weaners, 20 to 22; light feeders 24.50 to 32.25; feeders 100 to 125 lbs. 29 to 35; heavier feeders 36 to 44.50; bred sows and gilts 77.50 to 120. Boars, 61 to 77.50. Good dairy cows, 300 to 360. Baby calves 60 to 95 depending on quality. 215 hogs sold for export, price cutters 17 to 20.50, depending on converted to 24.45 live weight. Good lambs 28.50 to 29. PLAN TO ATTEND THESE SALES TUESDAY, MAY 19th -- AT THE AUCTION MART REGULAR CATTLE SALE o.m. quality. REPLACEMENTS Heavy feeder steers 800 to 1,000 lbs. 30 to 32.60; steers 600 to 800 lbs. mostly 32 to 34; hol-stein and plainer feeder steers 29 to 31. Feeder heifers 650 to 300 lbs. 29 to 30; heifers 500 to 650 tbs. 29 to 32, depending on quality. Medium quality stock cows with calves at side 285 to 317.50; bred heifers 235 to 285; young DIVIDENDS By THE CANADIAN PRESS Amerada Hess Corp., IVz cents, June 25, record June 11. Aluminium Co. of Canada Ltd., 4 per cent pfd. 25 cents, Sept. 1, record Aug. 7; 2 per cent pfd. 56 cents, Aug. 31, record Aug. 7. Columbia Cellulose Co. Ltd., $1.20 pfd. 30 cents, June 30, record June 8. Canadian Utilities Ltd,, 4212 cents, May 28, record May 15. Calgary Power Ltd., 20 cents; 5 per cent pfd. $1.25; 5.4 per cent pfd. $1.35; all July 1, record June 2. Bow Valley Industries Ltd., 5 cents, May 29, record May 15. Cominco Ltd., 70 cents, June 19, record May 22. General Development Corp., 2 per cent stock dividend, June 29, record May 28. Thomson Newspapers Ltd., Vk cents, June 15, record May 22. 750 Union Gas Co. Ltd., 5Vi: per cent pfd. series A 69 cents; 6 per cent pfd. series B 75 cents; both June 30, record June 5. Goodyear Tire and Rubber Co., 4 per cent pfd. 50 cents, July 31, record July 10. Laurent ide Financial Corp. Ltd., 6V4 per cent pfd. 3iy* cents, July 30, record July 19. Observers said some investors were anxious to make a slight gain and get out of the market. However, the rally built up momentum and markets closed with a sharp gain. Throughout the week, markets showed a great resistance to good news. Trading was light as many investors waited on the sidelines. The only reaction to a statement Tuesday by United States Defence Secretary Melvin Laird that U.S. ground troops would not be assigned to combat missions in Vietnam after June, 1971 was a slight easing in the downward trend. But markets scon fell back into sharp decline. The Bank of Canada made a move Monday which had the potential to start a rally. It cut its lending to 7*6 per cent from eight per cent, but countered with two other moves which reduced the amount of mottey in circulation. INFLATION FOUGHT The federal government also repeated its declaration to persist in a campaign against inflation. A reduction in margin requirements last week by all Canadian exchanges to 50 per cent from 60 per cent failed to bring markets up. The May investment review published by Nesbitt, Thomson and Co. Ltd.. Toronto brokers, offered one explanation for markets' resistance: "(During) times of pessimism investors tend to respond only to bad news and to ignore good news.1* The review said "it is quite possible that the investor pessimism has reached its peak and that the market is consequently fairly close to the bottom." However, the caution was added that a resumption to a strong market was not foreseen in the immediate future. A Toronto technical analyst attributed the rally Friday to a change in attitude in buyers and sellers of stocks. While throughout most of the week persons wonting to buy stocks put in a b*d IxjIow market price and wailed for shares to drop in value, the reverse condition prevailed Friday, he said. Investors then decided to put a sell order on shares above current market once and wait until it was readied. Statistically, on index at the Toronto Stock Exchange, industrials were down fi. 1 fi to 161.23, golds 5.86 to 157.50, base metals 4.67 to 97.29 and western oils U.63 to 135.94. Volume was 9,575,000 shares compared with 8,309,000 last week. Losses outnumbered gains 688 to 113 with 195 issues unchanged. On the Montreal and Canadian exchanges the composite index was off 6.01 to 157.66. Combined volume was 3,578,048 shares compared with 4,074,810 last week. Losses outnumbered gains 359 to 62 with 104 issues unchanged. Bond Prices Supplied by Doherty Roadhouse and McCuaig Bros. Bonnie Cost Stated GOVERNMENT OF CANADA BOND! 6 41/4% 8 % 4*4% Perp. Apr. 1 '71 Sep. 1 *72 Oct. 1 '75 Jly 1 '78 Sep. t '83 3% Sep. 15 Bid Asked 98.95 99.70 94.75 95.50 90.26 91.75 100.25 101.75 70.75 72.25 39.75 45.25 GOVERNMENT OF CANADA GUARANTEED fiONDS Can 5 53, Nat. Rlwy. May 15 Jan. 1 '77 85 Bid 81,75 77.75 Atkfld 84.25 80.25 PROVINCIAL Hyd. Ont. Ont. N.B. Nfld. N.S. Quebec Alberta Man Hy Sask. Nfld. AGT Man Tel 7 9 8 % 8%% 9 '88 82.75 85.25 '94 102.25 103.25 '90 100.75 103.25 '74 94.75 '92 74.75 '74 93.75 97.25 76.25 96.25 OTTAWA (CP) - Defence Minister Leo Cadieux said Friday his figure on the cost of the No Assistance For Wawanesa WINNIPEG (CP) -Manitoba Municipal Affairs Minister Howard Pawley said here the province will not provide direct compensation to the village of Wawanesa if it is affected by implementation of a proposed govermnent automobile insurance plan. In a brief to Mr. Pawley. the delegation said unless compensation is provided for losses suffered through implementation of a government-run plan, the village would likely have to declare bankruptcy. Wawanesa Mutual Insurance Ltd., with its headquarters in 1966 refit of the aircraft carrier Bcnavcnture is $12,570,000. not the $17,000,000 used by Steve Papmski (PC-Edmonton Centre) in asking whether the overnmtnt Is reconsidering a ecision to scrap the ship. The $17,000,000 figure emerged in a report this week by the Commons public accounts committee on the celebrated refit. Mr. Cadieux also told the Commons the carrier is being decommissioned, not scrapped, and the decision 'has to stand. Mr. Paproski said the government should keep the carrier in service so taxpayers could get some of their money back from the refit. '90 100.25 101.75 7>/4 9%% 8 r'� 8 % '90 '88 '90 '74 '74 101.15 82.75 100.25 97.25 97.25 102.25 85.25 101.75 98.75 98,75 the village, is only source there. practically the of employment SALESMAN OF THE MONTH INDUSTRIAL Abitibi 7Vi Alta. Gas Alumin. 4JA Bank N.S. 7 ell Tel 8 .A. Oil Cdn Brew 5 5'/�";> Cdn. Chm C.P.R. Cdn WN Cons Gas Dom tar T. Eaton G.M. Ac. Husky Oil 7 Imp Oil 7%-c I.A.C. 7l/ir Smith Ltd. Customs Broker edmonton 42-9796 KINGSGATE CALGAflV \ 263*8050 t % \LETHBRlOCe 326-8141 Phone 344-3622 Pll bring you ideas for Family Protection. Sun Life's Family Security Benefit, provides coverage you need now, at low cost GORDON N. HOPKINS 5)5 7rh St, S. Bus. 327-3452 Ret. 327-1994 SUN LIFE OF CANADA J. � CATTLE SALES EVERY THURS.-l P.M. Stocker Feeder and Fat Cattle SPECIAL Swine Production Sale Wed., May 20th 60 500 5 5 Ibi. 1 p.m. Bred to York Boars Bred Gilts - 300 to 400 due, starting end of May. Crossbred Weunors and Feeders. Hampshire York - La com be Cross, Hampshire Boars 2 Duroc Boars Hampshire Gilts 2 Duroc Gilts Duroc for catalogue* contact WES ALM, M Test Station, Box 128, Cla��h*4m, Alta. or the Auction Market SPRING HORSE SALE WEDNESDAY, JUNE 3rd - 1 P.M. AT THE AUCTION MARKET The University of Alberta department of Extension APPOINTMENT PUBLIC ADMINISTRATION LAST CHANCE SPRING BULL SALE FRIDAY, JUNE 19th - 1 P.M. ALL SALES CONDUCTED BY An undergraduate degree in agriculture, economics, political science or business administration with a graduate degree in economics, political science or public administration. Candidates should have some public seVvice experience in local or provincial government service. Responsibilities will include the instruction of local, provincial and federal government officers through courses and seminars in local government practice and policies. The appointee will assist in the organization of new programs in this field and wil undertake related research. PRAIRIE LIVESTOCK M rib h 1 V - and development be expected to APPOINTMENT REAL ESTATE V _ ANNUAL SPRING HORSE SALE TWO BIG DAYS ALL BREEDS REG. HORSES SELL FRIDAY NIGHT, MAY 22nd AT 7:00 P.M. Entries for Reg. Horses Only Close Fri., May 15 GRADE HORSES SELL FRI., MAY 22nd AT 1 P.M. and SAT., MAY 23rd AT 10 A.M. Grade Horses Accepted Till Sale Time SALE CONDUCTED Lethbridge Exhibition AT Pavilion SALE EVERY MONDAY STAR HAVEN FARM WRENTHAM SWINE PRODUCTION SALE Wed., June 3rd 1 p.m 1:00 p 625 HEAD Including 25 BRED SOWS and GILTS. Cross, due to farrow shortly after sale or Hampshire boars. 600 WEANER and FEEDER HOGS (TOP QUALITY) including 10 open replacement gilts lacombe and York date. Bred to York FORT MACLEOD AUCTION MARKET,,,* AT TH� CfOSSBOADQ OF 0ANA INURNATIQNAI SALES MANAGEMENl mm macuuu  ttttinA ttrntoi V U 6U 1 LS0 Ptioni4pl l}� J "* H URLBURTco KENNETH uc. AUCTIONEERS E. HURLBURT DAVID K. McNAB NO. 274 UC. NO. 670 Educational qualifications include a graduate degree In economics or business administration. Candidates should have some experience in real estate or related areas. Responsibilities will include the administration of a variety of programs of continuing education in this area, related studies, and some teaching. Appointment will be made to the academic staff of the University as Assistant Professor (salary range $10,300-$13,750, annual increment $500) or Associate Professor (salary range $13,800-518,550), annual increment $640). Curriculum vitae, with transcript, references and photograph should be forwarded to the Director of Extension, The University of Alberta, Edmonton, Alberta. Let Us Take the Worry Out of Your Livestock Sales . . . our contacts with professional order buyers, your early consignment, means top prices for PRAIRIE LIVESTOCK (FORMERLY HANDLEY-JENSEN LIVESTOCK LTD.) PHONE 223-3921, TABER DAY OR NIGHT Auctioneer: Sales Manager JOHNNY CHARLTON GARY JENSEN Lie. 293 LISTINGS INVITED FOR OUR ANNUAL GIGANTIC EQUIPMENT AUCTION Saturday, June 13th at 9 a.m. This is a specially arranged and advertised unreserved consignment auction, Turn your equipment into INSTANT cash. Perlich Bros. Auction Market Ltd. located in the hub of Southern Alberta's livestock industry - 3 miles east of Lethbridge on Highway 3 and a \4 mile south. PHONE DAY OR NIGHT 328-395] BOX 1057, LETHBRIDGE � ;