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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 8, 1973, Lethbridge, Alberta g _ THE ieTriBRiDOE HERALD Saturday. September 8, 1973 World soybean shortage ended New York Times Service ROTTERDAM Viewed from here, a key center in Europe's buregoniag soybean industry, the crisis which has rocked the market for the protein- rich commodity for the last year now seems over. After two months of shortages caused by U.S. export restric- tions, soybeans are once more available. Prices, which soared last (all when the Soviet U.S. grain deals and the failure of the Peruvian fish catch signaled a period of protein scarcity, have now about three times pre-crisis levels. The lifting of restrictions On Sep- tember soybean shipments from the U.S. and the excellent pre- dictions for the new American crop have dispelled fears of con- tinued shortages. Never-the- less the one-time confidence among Europeans in a reliable supply cf cheap U.S. beans will not return. CONTINUE IMPORTS Europeans will continue to import immense quantites of soybeans from the U.S. in the foreseeable future, since they j lack a reasonable alternative to' meet their fast growing con- sumer demand for meat. But the year's experience has awakened their interst in alter- nate soybean supplies from Brazil, forced them to step up' efforts to develop new chemical Beef Futures WINNIPEG (CF- Live beef futures close Friday. Sept 12.00A: Xov 52.00A Jan 51.25B: Mar 52.00N Thursday's volume: seven contracts. and vegetable protein sources, and them start using their soymeal supply much more ef- ficiently. Cornelius Meerhoek. direc- tor of the association of Dutch seed crushers, says not only has America's image as the world's most reliable supplier of oil seeds been broken, but also that Europeans fear the Ameri- can example of cutting back contracts may make it harder to pressure other exporting states to maintain fair trade practices. Many crushers were able to secure Brazilian soybeans which up to this year had not been able to dsnt the U.S. dominance of the European market despite their superior protein content. While Brazil gained a valuable foot in the door during the crisis period Brazilian officials do not think their producers will be abls to compete with the Ameri- cans imder normal conditions in the foreseeable future. In the view of the European compounders who produce ani- mal feeds from the soymeal, the crisis has meant a major change in feeding systems. Jaap De Jong, a feed specialist for the large Rotterdam feed coop- erative, Cebecq, says that up until this year, customers had used the soy-based feeds inef- ficiently, since they were so cheap. Besides encouraging wasteful use. the cheap U.S. supplies had stunted Europsan efforts to de- velop alternative protein sup- plies. For example, artificial production of a key soybean pro- Neiv federal building The new federal building will strcddle a full city block in downtown Vancouver. Plans for the complex, designed by Vancouver architect Arthur Erickson, were announced yesterday. WASHINGTON (AP) Prices of farm products in the tein, lysine, had totally stopped in Europe, in recent years. (record United States increased by a 23.1 per cent at the Net earnings Now. however, the rush is on. The EEC Commission in Brus- sels is making a crash study to 1 gauge the state of research in I Europe on the subject. If, however, the unforeseen j occurs and new restrictions are By THE CANADIAN PRESS j placed on U.S. exports, the Eur- Turbo Resources Ltd.. six months ended June 30. 1973. j 5.9 cents a share: six t months ended Aug. 31: 1972. j could wind up eating tulip bulbs five j opeans believe they -.vill quickly j face an emergency situation. According to one dealer, we i like we did during the war.'' THE STOCKMEN'S MARKET 300 to 500 SELL TUES., at 1 ALSO DAIRY COWS BABY CALVES SHEEP Market Hogs Shipped Daily YEARLING FEEDER AND FAT CATTLE AND CALVES Thursday 1 p.m. HEAD 1000 Highlighted by 200 Yearling Steers from one owner. CONSIGN NOW1 GIGANTIC Saturday, September 22nd at 10 a.m. For further information contact TONY VIRGINIILO 345-4291 or the AUCTION MARKET ALBERTA SHEEPMAN'S LAMBS RANGE EWES RAMS Including several Herd Dispersions Wednesday, Sept 26th at p.m. and Friday, October 19th at p.m. LIST EARLY All BREED REGISTERED AND GRADE HORSE SALE HORSE SALE Fri., Oct. 5 p.m. GRADE HORSES f 5 _ m> REGISTERED HORSES Listing Deadline Sepf. 10 Sat. Oct. 6-10 a.m. GRADE HORSES PERLICH BROS. AUCTION MARKET LTD. Located In the Hub of Southern Alberta's Livestock Industry 3 miles east of Lethbridge on Highway 3 and mile south BOX 1057, LETHBRIDGE PHONE DAY OR NIGHT 328-3951 wholesale level in August, the labor department said today. The department's wholesale price index showed the over-all Increase in wholesale prices during August was 5.3 per cent on an" unadjusted basis and 0.2 per cent when adjusted for sea- sonal variations. The over-all increase was not a record, but was the highest 8.1-per-cent rise in prices in October, since an wholesale 1945. The increase in prices of Oil firms ready for more talks NEW YORK (Reuter- Six international oil companies have rejected Libya's declared takeover of 31 per cent of their assets in that country, the Shell International Petroleum Co. and Texaco said today. T h e Richfield, Exxon, Mobil, Royal Dutch-Shell, Standard Oil of California and they are prepared to resume negotiations with Libya "to reach a mutually acceptable agreement." The statement said the com- panies are individually taking arbitration proceedings against the Libya decree "as being con- trary to existing agreements and the principles of inter- national law." The action is also contrary to Libyan contractual law, it said. 'The companies are not will- ing to accept terms imposed unilaterally in contravention of valid agreements and to which they were not able to agree in the statement added. "Each company individ- ually intends to take such steps as it deems necessary to pro- tect its higher prices for livestock, grains, oil seeds, poultry, eggs, cotton and milk, and just about double the record monthly increase of 11.9 per cent in July, 1946. The labor department also re- ported a slight increase in the country's unemployment rate in August to 4.8 per cent of the la- bor force, up from 4.7 per cenl in July. The department said the num- ber of workers without jobs last month numbered about 4.2 mil- lion on a seasonally-adjusted basis, or about 4.3 per cant of the work force. At the same time, total em- ployment in the country held to a seasonally-adjusted level 34.4 million. It was the second straight month in which em- ployment did not increase, after posting particularly strong j gains earlier this year. Nixon administration ofricia's have expressed fear that the August wholesale price index, which shows what happened to prices after the government price freeze was lifted Aug. 12, could deal the government's anti-inflation program a major psychological blow. Most of the increases in wholesale prices eventually will be translated into higher retail prices. Since much of the in- crease is for farm products, higher prices are ahead for many foods. Food prices at re- tail already have increased about 12 per cent so far this year. Supplied by Doherty McCuaig Limited GOVERNMENT OF CANADA BONDS Oct. 1, '75 96.00 97.00 8 July I, '73 101.00 103.00 Sept. 1, "83 78.00 78.50 y-fr Sept 1, '92 77.00 79.00 3 Sept. 15 Perp. 38.00 40.0D 6T" April 1, '75 93.50 99.50 71 July 1. '75 100.00 101.00 PROVINCIAL GOVERNMENT OF CANADA GUARANTEED BOND5 Alberta V 101.00 103.00 Ontario 7 ri '83 87.25 88.25 Ont Hyd 9 "94 102.50 104.50 New 3r 9J2% '90 104.00 106.00 CONVERTIBLES Alta G T '90 76.00 80.00 Cons Gas SVzTo '89 82.00 84.00 Dynasty 7 '82 102.00 103.00 Acklands '83 98.00 100.00 Scur Rain '88 91.00 S3.00 WC Tr C '88 72.00 75.00 WC Tr '91 95.00 93.00 Nfld N. S. Quebec Alberta Man Hyd Sask Nfld AGT Man Tel '74 S9.50 1C0.50 '92 87.00 '74 99.00 101.00 '90 101.50 103.50 '91 97.00 99.00 '90101.00103.00 '90 103.00 105.00 '74 99.50 100.50 "74 99.50 100.50 INDUSTRIALS T 9V Gas hearings yet for Oct. 10 OTTAWA (CP) The Na- tional Energy Board will hold hearings here Oct. 10 on an ap- plication by T r a nsCanada Pipelines Ltd., to increase the price of its transmitted natur- al gas. The increases, to take effect Nov. 1, are required because of an increase in the wellhead price of gas effective at the same time. Alta G Alcan B.C. For B.C. Tel Bell Tel Bell Tel CP Ltd CP Sec Cdn Util C W N G 9" Gulf Oil Inter P P Massey Noranda 9'! C< Intl Nickel 9V" N and C G St of Cdn Wo Tr Cdn P Tr Cdn P WC Tr AT 11 A.M. CHANGING SALE SCHEDULE Effective September 19 we will be assembling butcher hogs for the marketing board on Wednesdays, Also we will be selling weaner and feeder hogs "nd baby calves on Wednesday at 1 p.m. REGULAR CATTLE SALES ON MONDAYS Don't be content to accept one offer