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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 26, 1973, Lethbridge, Alberta 22 THE IHHMIDGC HERALD Saturday, May 26, 1973 Warning issued on boom-bust NEW YORK (CCP) A growing number of economists are warning that the United States is heading towards a vio- lent boom-bust lowed by paralysing if steps are not taken to cool the country's superheated econ- omy. As evidence, they point to a fresh spurt of inflation, soaring first-quarter company profits, swiftly rising retail sales and consumer instalment debt, man- ufacturers' orders that are go- ing up twice as fast as they were a year ago and a heavy program of capital expenditure by industry. Inflation, they say, also has been a factor in the stock mar- ket's to Thurs- day's the face of so much favorable business and economic news. The Watergate affair, producing a steady ero- sion of public confidence in the Nixon administration, also has contributed to the market's er- ratic performance. Most of the country's top eco- nomicsts agree that the econ- omy cannot continue to surge Big tug boat makes first trip VICTORIA (CP) The largest and most powerful tug ever built in Canada left the dockyard at Yarrows Ltd. here Friday on her maiden voyage. Teague Bay, one of two tugs, built for Ameraca-Hess Ship- ping Corp. Of New York at ahead at its current feverish million each, is 155 long, has a pitch; that somewhere along beam of 45 feet and a the line it must come to a halt, j draft. j Fuel tanks hold gal- recession ions to power engines which can produce horsepower at a top speed of 13% knots. An unusual feature of the construction is her mast- of the pace of the rise in the price index in April, and tower retail sales, to support his con- tention that major changes in the government's economic pol- icy aren't necessary. One of the leaders of the group urging government action is the respected financial maga- zine Business Week. It called in an editorial for new, tough wage-price controls and. strict fiscal and monetary discipline. head steering station, set 85 feet above the water. The tug's VIEWS CONFLICT Those forecasting say the collapse will come late this year or early next year if economic restraints, including wage and price controls, aren't imposed quickly. Those of the more conservative school argue __ that the economy will cool down Capr M." Gifbreath of its own accord, without con- trols. Leader smong the con- servatives is Herbert Stein, President Nixon's chief econo- mist, who told a Senate com- mittee this week that great surge of inflation" of the last three months is ending and that the rapid pace of the economy will "slow down considerably in the remainder of this year." He predicted that the con- sumer price index, which leaped ahead at an annual pace of 5.6 per cent in the first quar- ter, will show an annual gain of only four per cent by the end of ycsftr. Stein pointed to a slackening heignt is necessary for handling large tanksrs. Teague Bay and her still-to- be-built sister ship will be based in the Virgin Islands, equipped to dock supertankers, fight fires and act as salvage vessels. HATE TO WALK TORONTO (CP) Have legs but won't seems to be the motto of most Torontoni-1 ans. A computer study of Metro travel habits, sponsored by the federal government, shows that a dislike of walking.is the great- est deterrent to people using public transit to go to work. Alberta gas export proposal would be aid to economy Tower takes shape First structure in planned redevelopment of 180 acres of railwoy land in down- town Toronto, the CN Tower begins to take shape. Y-shaped communications and ob- servation tower will be more than feet tall when completed in late 1974, and will be world's tallest ssif-supporting structure. THE STOCKMEN'S MARKET TO 500 HOGS SEli TUES., at 1 p.m. ALSO -DAIRY COWS -BABY CALVES -SHEEP SPECIAL FOR TUESDAY, MAY 29th 10 BABY CALVES Market Hogs Shipped Daily YEARLING FEEDER AND FAT CATTLE AND CALVES Thursday -1 p.m. 800 HEAD 800 GIGANTIC CONSIGNMENT EQUIPMENT AUCTION SAT. JUNE 9th 10 a.m. LISTINGS NOW BEING ACCEPTED For information contact TONY VIRGINILLO Phon. 345-4291 Livestock market OTTAWA (CP) Receipts of cattle and calves at the 10 pub- lic stockyards from Tuesday to Thursday this week decreased more than to be- cause of the holiday week. The agriculture department Friday reported a broad de- mand for slaughter cattle in ail centres as higher prices pre- vailed. A-l and A-2 heifer prices ranged from 50 cents to higher while D-l and D-2 cow prices were steady to higher. Receipts of feeder cattle and calves decreased more than 000 head. About head were offered. Wholesale meat prices were higher. Steer carcasses sold higher at to in the west and to in the east. Heifer carcass prices also were higher at S73.37 to in the west and to 42 to Winnipeg 42 to 48; era prices were slightly higher j at I Slaughter cattle, steers A-l and A-2: Calgary 45 to 46.50; Edmonton 44 to 45.50; Saska- toon 44 to 46.50; Winnipeg 45 to 46.50; Toronto 46 to 47.50; Mon- treal 43.75. Heifers, A-l and A-2: Calgary 43 to 44.10; Edmonton 41'.50 to 42.85; Saskatoon 40.75 to 42.50; Winnipeg 42 to 43; Toronto 43.50 to 45. D-l and D-2 cows: Calgary 34 to 35.50; Edmonton 33 to 34.50; Saskatoon 35 to 36.75; Winnipeg 37.50 to 38.50; Toron- to 34 to 35.50. Slaughter calves, good and choice veal: Edmonton 50 to 56; Winnipeg 60 to 75; Toronto 49 to 60; Montreal 62 to 68. Feeler steers over 750 pounds: Calgary 42 to 46; Ed- 39.60 to 46: Saskatoon in the east. Veal carcass prices were un- even while lamb prices were 25 cents to lower in the west and 38 cents to lower in the east. Lamb prices rang- ed to from S87.38. Pork belly and ham prices generally were steady. POT' bally prices in the west rang- ed to from and from in the east. Western ham prices ranged to S62 from while east- Toronto 42 to 46. Feeder steer calves 401 to 575 pounds: Calgary 45 to 52; Td- iiiOiitDii 45 to 53; Saskatoon j 48.50 to 53.35; Winnipeg 51 to 55: Toronto 49 to 55. Good lambs: Edmonton 33; Montreal 40.50. report Lethbridge Livestock Sales Monday to Friday: 140 slaughter; 583 feeders; hogs; 244 lambs. SLAUGHTER CATTLE Steers A 1 and 2 44 to 45. Heifers Al and 2 42 to 42.90. Cows DI- and 2 34 to 35.25; D3 32 to 33.00; D4 29 to 31.50. Bulls good 37 to 38. REPLACEMENT CATTLE Good feeder steers ovar 750 Ibs. 45.50 to 48. Good Feeder steers under 750 Ibs. 46 to 50. Good feeder heifers 40 to 43. Good stock cows with calf at face to per psflr. Good stock steer calves 50 to 55. Good stock heifer calves 45 to 48.50. HOGS AND LAMBS Butcher hogs sold this week at the Lethbridge Yards 41 to 42.70 base price. There were 194 butcher hogs sold for export at 33 liveweight. There were no weaner and feeder hog sales this week due to the holiday. Perlich Livestock There were head of iive- GORDON ROSS DAIRY DISPERSION Tues., June 12-3 p.m. 35 Holstein and Brown Swiss Cows SUMMJERTIME EXOTIC SALi WED., JUNE 27th 1 p.m. EXPECTING 200 EXOTIC FEMALES Early listings 20 Vi Maine Anjou Heifer calves with Dami 20 V4 Chianina Heifer with Damt 2 Simmental Heifers with Heifer calvet 10 Simmental Heifen (bred) 10 Vt Simmental Heifers (open) 4 Vz Blonde D'Aquitalne Heifer with Dams 3 Murray Grey Heifers (open) LISTING DEADLINE SAT., MAY 26th PERLICH BROS. AUCTION MARKET LTD. Locoted In the Hub of Southern Alberta's livestock Industry f edit of lethbridge on Highway 3 and Vi mils south BOX 1057, LETHBftlDGi PHONE DAY OR NIGHT 328-3951 42.85; Winnipeg 42.60 44.75; To- ronto 48.75 to 50.25; Montreal 44 to 44.50. REGULAR CATTLE SALE EVERY MONDAY AT A.M. Special For Monday, May 28th 120 Short Keep steers and heifers from one owner 40 Light grass heifers from one owner 70 Mixed steers and heifers from one owner 2 Registered Angus Bulls 2 Simmental Bulls Don't be content to accept one offer