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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 21, 1974, Lethbridge, Alberta 28-THE LETHBRIDGE Rampant inflation still plagues stock By WENDY ROSEN The Canadian Press Major Canadian stock markets may have spcn light at the snd of the tunnel this week as prices in most groups moved higher in moderate trading Analysts say signs are growing that short-term interest rates are easing both in Canada and the United States Interest rates as reflected in yields on government securities have turned downward but one Bank of Canada spokesman says it's too soon to tell whether it's a trend The decline, he says is in reaction to similar action in the US Observers caution that rampant inflation and the economy must be dealt with before any real confidence returns to the marketplace. The recent advances could be just a typical rebound in a severely depressed market. At Toronto, the industrial index rose 10.84 points on the week to close at Gold prices LONDON (AP) Friday's closing gold prices in U S dollars an ounce- London 146.75 Pans 151 22 Frankfurt 148.00 Zurich 148 50 Hong Kong 144 35 Beirut 4.778 a kilo. Dollar value MONTREAL (CP) U.S. dollar in terms of Canadian funds Friday was up 1-25 at 98 33-50 Pound sterling was up 19-100 at S2 28 9-20 In New York, the Canadian dollar was down 1-20 at S1.01 7-20. Pound sterling was unchanged at 31 11-20 163.99. But the index has fallen almost 22 points in the last six weeks and almost 64 points from its 1974 high. The Montreal industrial index rose 9 25 points to close Friday at 173 13 while the composite index advanced 9 90 points to close ac 167.46 American observers say lower short- term interest rates, stimulated by the Federal Reserve's announcement that credit restrictions were being eased, are sparking hope that the prime interest rate may soon be cut. DOW JONES HIGHER The Dow Jones average of 30 in- dustrials posted its first gain in seven weeks as it jumped 43.55 points on the week to close Friday at 670.74. But the average has lost more than 114 points in seven weeks and almost 213 points from its 1974 high Gold mining shares, which suffered tremendous losses last week after one U S. analyst recommended investors cash in their gold holdings and later changed his mind, continued their downward slide. Sharply lower bullion prices on the European markets contributed to this week's loss At Toronto, the gold index slipped 31.66 points on the week to close Friday at 328 22. The index has fallen more than 289 points from its 1974 high Resource industry stocks were sharply higher this week responding to analysts' predictions of a bright future tor this group. Higher prices, they say, will more than offset probable tax and royalty increases. The Toronto base metal index gained 4.09 points on the week to close Friday at 6680 while the western oil index closed at 141.19, up points. Volume at Toronto this week was the highest in 16 weeks as 10.25 million shares worth million changed hands compared with 9.40 million shares and 46 million last week. At Montreal, volume was 3.36 million shares worth million compared with 3.19 million shares and 32 million last week. Metals LONDON (AP) Friday's closing metals in pound sterling per metric ton silver in pence per troy ounce. Copper: Spot 598-601; future 617-618 Tin- Spot futures Lead- Spot 232-234; futures 216-217 Zinc. Spot 377-378; future 377-378 Silver- Spot 169.5-170; 3 months 172- 172.2 Stock close TORONTO (CP) The Toronto stock market was lower at the close of light trading Friday. Hudson's Bay Oil lost 1 to Field's Stores 'A to IU Inter- national "2 to National Hees 25 to Dennison 1 to and Mat- tagami 'A to General Motors gained 2% TD Realty 1% to Quebec Telephone IVt to Mercantile THE STOCKMAN'S MARKET HOGS SELL Tues., at 1 p.m. 1 Dairy Cows Baby Calves Sheep Market Hogs Shipped Daily I Live Weight and Dressed Basis YEARLING FEEDER AND FAT CATTLE AND CALVES Thursday -1 p.m. 500-HEAD-500 YEARLINGS and MIXED CATTLE Young Cows Al Bred to Blonde D'Aquitaine Ross Murray HEREFORD DISPERSION Sat., Sept. 28th 1 p.m on offer 80 PUREBRED HORNED HEREFORDS INCLUDING... 43 Mature Cows with Calves 14 Yearling Heifers Year Old Heifers with Calves 2 Herd Sires owner ROM Murray Phone 362-3754 Brooks ALL BREED Registered and Grade HORSE SALE Fri., and Sit.. Oct. 4 and 5 Reg. horses sell Friday at p.m. Grade horses sell Saturday at 10 a.m. Listing deadline Fri. Sept. 20th. Arnold Ranch Brown Swiss DISPERSION Sat.. Oct. 12 at 1 p.m 155 Brown Swiss and Exotic Cattle, owner Jim Arnold Phone 486-5727 Nanton ALBERTA SHEEPMEN'S EWF. AND RAM SALE Fri., Oct. p.m. All Sales Conducted by PERLICH BROS. AUCTION MARKET LTD. tocttcd in the Hrfb of Southern Uvwtock Industry 3 mflw of on Highwsy 3 and V Jly Rye on' iDcr May Jly Barley OM May Jlv Od iDt-c May 365 373 280 290 279 27P'. M6 10 1 FertHlKyit Ort 381 Dtf 3fl9 Ma> Jlv 370 276'. 285 275 278V, 182 166 376 837 826 365 373 378 381 285 287V, 285 278 282 195 1S8 m 367 370 The Herald Business Alberta grain EDMONTON (ACN) The Alberta Gram Commission in its weekly report Friday said except for a slight strengthening on barley prices in the odd area, feed gram prices seem to be weakening or levelling off throughout the province. It gave the following area reports: Lethbndge, the ranges quoted wheat oats 50 and barley Medicine Hat Brooks area wheat 40, oats and barley Calgary unchanged with wheat oats and barley Red Deer and district wheat 55- oats and barley Vermilion wheat oats 50 and barley Edmonton area wheat oats 40-31.58 and barley Peace River region wheat 75, oats and barley 20- Feed corn per bushel fo.b. Calgary. Feed corn 10 per bushel f.o.b Lethbridge. Earnings By THE CANADIAN PRESS Bombardier Ltd., six months ended July 31: 1974, loss, no per- share figure; 1973, loss. Digital Equipment of Canada Ltd., year ended June 29: 1974, no per-share figure available; 1973, Distillers Corp.-Seagrams Ltd., year ended July 31 1974, 33 a share, 1973. Doman Industries Ltd., nine months ended July 31. 1974, 60 cents a share, 1973, 21 Elks Stores Ltd., six months ended July 27. 1974, 37.4 cents a share; 1973, 32.9 cents Harding Carpets Ltd., nine months ended Aug. 3: 1974, 60 cents a share; 1973, 50 cents. Hugh Russel Ltd., three months ended June 30: 1974, 081.000, a share; 1973, 58 cents. Barymin Explorations Ltd.. nine months ended July 31. 1974, 13.5 cents a share; 1973, 3.1 cents. Canadian Salt Co. Ltd., year ended June 30: 1974, a share. 1973, 57 Corporate Foods Ltd., year ended June 29: 1974, 77 cents a share; 1973, 22 cents. Dominion Citrus and Drugs Ltd., six months ended July 31: 1974, 49.7 cents a share, 1973, 39 6 cents Elks Stores Ltd., six months ended July 27- 1974, not as previously reported, 37.4 cents a share: 1973 not as previously reported, 32 9 cents. Hardee Farms International Ltd., 12 weeks ended Aug 24- 1974, five cents a share; 1973, three cents Ripley International Ltd., year ended July 31 1974, 44 cents a share: 1973. 60 cents. Dividends THE CANADIAN PRESS Corporation dividends, quarterly un- less otherwise noted. Bushnell Communications Ltd., nine cents, Oct. 31, record Oct. 1 Commonwealth Holiday Inns of Canada Ltd., eight per cent pfd. series A, 50 cents, Oct. 31, record Oct. 17. Hamilton Trust and Savings Corp.. 11 cents, Dec. 15, record Nov. 15; pfd series A, 17Vz cents, Jan 1, record Dec. 11 Toronto Star Ltd., Class B, five cents, class C, 4.25 cents, both payable Oct. 15, record Sept. 30. 1 A 1 DC anc i C 1 1 1 1 1 361) A 65 67 69 71 73 No real growth Canada's gross national product grew by 3.6 per cent during the second quarter of 1974 to an annual rate of billion. However, Statistics Canada said there was no real growth in the economy since the increase was due entirely to higher prices. The gross national product is the value of all goods and services produced by the economy. (CP Newsmap) REGULAR CATTLE SALE Regular Monday Sale it 11 a.m. HOG SALES EVERY WEDNESDAY We will be Itofkvl Hoys for the oovro AIM] wf Nogs tn i HM p.m. NO HOGS WILL BE SOLO MONDAYS srenm our SME-TKUIBMY. ocnnmoni-iiroo A.M. And every TTniredey Jn October 0nd Movefnber, STOCK COW MID MED HEIFER SALE of mch month togtiritag y, Odobor 1tm am. REGULAR CATTLE SALES WILL CONTINUE EVERY MONDAY be cortem lo accept one cffler al home, consign your live- stock 10 us you are guarranleefl to have The Auction Rinc lull cfl Buyers to cm yout producl PRAIRIE LIVESTOCK LTD. PHOME 223-3921, TABER-DAY OR NIGHT JOHNNY CHARLTON uc 393 M GARY JENSEN ;