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The Wingham Advance-Times, 1984-09-05, Page 20Page 6-Crossroads—Sept.. 5, 1.984 Climbing Interest Rates Politics aside, there are persuasive reasons for gov- ernments to oppose higher interest rates: they tend to slow down business activity and create havoc among the less developed countries. Nevertheless, interest rates are headed higher, perhaps to a new peak. The responsibility for higher interest rates rests primarily on the Reagan economic program, but the U.S. central bank, the Fed- eral Reserve Board, must also share a great deal of the responsibility. Under the Reagan administration, gov- ernment spending and tax- ing policies have been more stimulative than at any time since the end of the Viet- namese War. For instance, inflation, which leads to es- calating interest rates, be- gins to manifest itself when industrial utilization rates exceed 80 per cent of capac- ity. Now the U.S. is at that stage, and yet the federal deficit equals about 4 per cent of GNP; that compares with 0.9 per cent of GNP at a similar stage in the 1965-68 era, 0.7 per cent in 1972-74, and 1.7 per cent in the years 1976-80. Even if the deficit were cut by $50 billion next year, it would still leave the ratio twice as high as in any year of the Carter presi- dency and four times the peak during the Vietnam War. To put this in a differ- ent perspective, the U.S. budget deficit during the last year of President Carter's term was $19 billion, and next year, even with pro- posed changes, the budget deficit will be about $180 billion. (In both cases, that is the third year of economic recovery.) .0, Canada's Business by Bruce Whitestorie After each era of budget deficits, inflation reached, twice the levels of the im- mediately preceding period. One must hope that other forces will intervene to pre- vent a doubling of the infla- tion rate from the previous peak registered in 1980-81. Given these prospects of rising inflation, it is no wondet that lenders are seeking some protection in the form of raising interest charges. Borrowers too are aware of inflationary poten- tials, so loan applications are rising at a frantic pace. Con- sumer loan demand in the United States recent ; y has been increasing at a 17 per cent growth. Pressure on rates thus us coming, not only from huge U.S. govern- ment borrowing, but also from individuals and busi- nesses anxious to obtain funds before prices and in- terest rates rise further. The long-awaited collision be- tween public and private sector borrowing require- ments has taken place. Prospects are that the U.S. economic growth will be un- checked; the economy's_ap- parent immunity to the high level of interest rates can be explained in part by U.S. tax laws which reward borrow- ers by allowing them to de- duct interest payments but tax them on their earnings from savings. Another im- portant explanation rests on financial deregulation. Until two years ago, there were limits on the interest rates banks could pay on some de- posits'. When rates rose above those limits, savers refused to deposit more or withdrew their money, so in- dustries n-dustries relying heavily on bank loans slumped. Now, by removing controls which AUCTION SALE Of Household Effects, Antiques, Dishes, Tools & Misc. Items For the Estate of: WILSON CUNNINGHAM Wood St., Drayton, located beside Senior Citizen's Complex plus same day & beside same location: auction sale of barn timbers, used steel roofing, siding lumber, sleepers & firewood for: FLINKERT FARMS Drayton. Sale will be held on: Sat.., Sept. 15, 1984" 11:00 a.m. CUNNINGHAMS: APPLIANCES: Simplicity square tub wringer washer; Westinghouse electric clothes dryer; small electrical appliances. FURNITURE: Electrohome colour, table model TV; TV stand.; maple (Morrettes) colonial chesterfield & chair (green), matching love -seat in gold stripe; coffee table; Candle portable record player; round ped. kitchen table & 4 swivel castor chairs; trilight swag lamp; Magnus electric chord organ; guitar; bridge table with 4 folding chairs; table lamps; adjustable desk lamp; mirrors; chrome kitchen table with 4 chairs; 2 chrome kitchen stools; pictures & frames; magazine table & small tables; foot stool; Astor portable electric sewing machine; Regina electric broom; Wet -Dry vacuum; 2 • carpet sweepers; air fan; air purifier; chester- field chair & love -seat; .4 piece bedroom suite consists of double dresser & mirror, chest of drawers, nite table & double bed; 2 wooden -single beds; steel double bed; cont. single bed; bow bottom double bed. DISHES: Variety of everyday dishes, pots & pans. ANTIQUES: Sideboard; wooden table; pine box; 3 trunks; 4 kitchen chairs; 5 small school chairs; child's rocker; 3 dressers; chest 'of drawers; arrow -back arm chair; 8 matching wooden chairs; 2 press -back chairs; 6 dining room chairs & 2 arm chairs (need repair); wash table; wicker bassinette; oak rocking chair with leather seat. TOOLS & MISC.: National 8" table saw with motor & access; Beaver 4" planer jointer with motor; No. 5 bench vise; B&D 3/8" electric drill; blow -torch; Whipper snipper; 100' ext. cord; alum. step -ladder; Coleman camp heater; camp stove; hand-& garden tools. FLINKERT'S FARMS: Lot 2, Con. 10, Peel Twp., behind Christian Reform Church. Various lengths of barn timbers; &ding lumber; sleepers; steel gals. roofing; 2x4's striping, all used. This barn was too close to Senior Citizen's Complex so had to be torn down. ORDER OF SALE: Dishes & household effects start at 11:00 a.m. at the Cunningham residence, barn timbers will sell at approx. 2:00 p.m. Owners or auctioneer not responsi- ble for accidents or loss of property sale day. Terms Cash or Cheque with proper I.D. Lunch available. Auctioneer: BOB GILMORE Victoria Ave. S., Listowel 291-3489 caused a shortage of credit, deregulation has increased the level of interest rates needed to inhibit economic activity. As well, flexible fi- nancing insulates borrowers from the impact of rising in- terest rates: they are offset temporarily by longer maturities, and there is usually a lag before adjust- able mortgage interest rates move higher. Looking beyond North America, the way that inter- national debts have been allowed to build by extending more credit to worthless bor- rowers, of course, has put additional strains on credit markets: Clearly, lending additional funds to borrow- ers to pay interest on loans already outstanding is too absurd to be. allowed to go on indefinitely, but in the in- terim, scarce funds are si- phoned to bankrupt nations. The pressure on interest rates from the public sector in Noirth America, from consumers and businesses who want to obtain funds when they can do so, and from international borrow- ers, all suggest that the credit markets have to shoulder an unprecedented load. For the foreseeable future then, interest rates will continue their ascent, probably reaching levels comparable to the peak of 1981. The cause of accidents in- volving bad weather condi- tions is the failure of the dri- ver to adjust his driving to meet . such conditions or to keep his vehicle in proper condition. And such acci- dents are preventable. �i,gurne apprais, ! by museum By James G. McCollam Member, Antique Appraisers Association of America Q. Enclosed is a picture of a porcelain figurine nnd the mark that is on the bQftom. Can you tell me when it'. was made, where and by. whom? I would also like to know the value. A. This mark was first used by Kurs irstliche Por- zellan Manufaktur in Hochst, Germany, during the 18th century. One hundred years later, copies were made in Damm, Germany, using the same molds and marked in the same way. If this is an original, the value would be :80 to $900. If it is a later copy, it would be $200 to $300. I suggest that you take this to a museum so an expert ac- tuaIl roan examine it. Q. This mark is on my set of china that I inherited from my grandmother. Can you tell me when it was made? TheinX.aviland imuyrs FRANCE CLEARING AUCTION SALE Of Cars, Household Effects, Some Antiques, Guns, 8 H.P. Riding Lawn Mower, Hand Tools, Lumber, Misc., Etc. For the Estate of: WARDEN G. TREANOR On No. 6 Hwy., 5 miles south of Mount Forest on: Saturday,. Sept. 8, 1984 11:30 a.m. sharp HOUSEHOLD, ANTIQUES: General deep freeze, good cond.; older model fridge, good cond.; 6 drawer chest of drawers, good; small chest of drawers; B&W TV set with radio and record player; platform rocker; upholstered arm chairs; Viking wringer washer, good; 2 Kerosene.Omni 15-105 heaters, good cond.; wooden table, matching china cabinet; studio couch; Rogers antique short wave radio, work- ing; small book case, good cond.; Haughs air tight wood stove, brand new; old side bd., no top; small antique lift top desk, good cond.; large dresser, botom only; antique rocking chair; old parlour,° able; old sewing machine; portable electric sewing machine; mantel clock, not working; broad axe, no handle; brief cases; new and old books, etc.; 2 milk cans; everyday dishes; old silver pcs.; boxes of new gal. jars, sealers; a lot of household items not listed. GUNS, MISC. ETC.: Winchester Model 2400 12 gauge shot gun, top cond.; 2 Cooey's 22 rifles, 1 has scope, buyer must have ,F.A.C. permit; boxes of new shells; gun cleaning material; fishing tackle, etc:; camping stoves; set of right handed golf clubs and cart. CARS, RIDING LAWN MOWER: 1978 Plymouth Volare, V8 automatic, p.s., p.b., radio, good cond., sells as is; 1973 Pontiac Ventura, sells as is; Mastercraft 8 h.p. riding lawn mower, electric start, 34" cut, 3 yrs. old, top condition. TOOLS, LUMBER, MISC.: 12' boat and pad- dles; 5 h.p. outboard motor; good rubber tired wheel barrow; 4 old cars for scrap; 2 wheeled trailer; steel barrows; approx. 10 sheets of aspenite & plywood; approx. 20 - 2x4 type trusses, 12', 16'; piles of short 2x4; piles of odd lumber; piles of lumber for firewood; 5 h.p. garden tiller; 3 h.p. lawn mower, working; lawn mowers for parts; roll of snow fence; camper trailer, good for utility trailer only; old windows; some new window sash; new drill press stand; small vises, good; hand saws; skil saw; jig saw; new B&D '/4' drill; hand weed sprayer; new tool boxes; open tool boxes; step ladders; wreck- ing bars; small axes; good hand planes; wood chisels; good'ext. cords; new 10 amp battery charger; wooden clamps; good wrenches; vise grips; qts. of new oil; small tool boxes for screws, nails, etc; electric motors; rakes; shovels; old tires; bpskets of nails, screw nails; odd paint; a lot of small tool items not listed. TERMS: Cash sale day. Cheques with I.D. only. Property . is sold. Estate or auctioneer not responsible for accidents, injury, deletions or loss of property sale day. For information call: Proprietor: MRS. W. G. TREANOR 323-1202 Auctioneer: JOHN D. McPHEE Mount Forest 3234058 A. Your cbi a was made between1902' and 1,925 by the brother of Charles Haviland who made china marked °`Haviland & Co." In 1925 this mark was changed slightly. "Theodore Haviland," which appeared in script in this mark, was changed to print- ed letters. ESTATE AUCTION Furniture, some antiques, appliances, household effects, etc. to be held at the Brussels Arena, Brussels, Ont. for the Estate of: BERNICE THOMPSON Sat., Sept. 15, 1984 10:30 a.m See next week's paper for full listing. Auctioneer: RICHARD LOBS Clinton 4824898 CONSIGNMENT AUCTION at Listowel Livestock Ltd. on: Fri 'September 7, 1984 at 6:30 p.m. FURNITURE: Wringer washer; automatic washer; dryer; tables & chairs; occasional chairs; chest of drawers; cabinets; dishes & numerous household utensils. MACHINERY: 6 ton wagon; Gehl forage rack, 3 beater; Allied bucket; plows; cultivators; etc. MISC.: Berry garage door; Beaver 7'/2 h.p. out- board motor; pig feeders; steel posts; plus other useful articles not listed. Consignments accepted until ..5:00 p.m. September 7th. Auctioneer: DON REA Phone 291-2319 or 291-2600 AUCTION SALE Of Holstein Dairy Cattle, Dairy Equipment, Farm Tools & Misc. Items For: GLENN & CATHERINE NOBLE Lot N.H. 21, Con. 12, Arthur Twp., located 1st road east of Teviotdale on Hwy. 9 & 1 mile north on County Rd. 6 on: Wed., Sept. 12, 1984 11:30 a.m. MACHINERY: Int. 105 s.p.combine, cab, 10' header with pick-up, gas engine, scour clean, inside completely rebuilt (good unit); Int. 484 diesel tractor, double remotes, 42 h.p., like new; Int. 414 diesel tractor, single remote, p.t.o. pulley, complete with Int. 901 manure loader, trip bucket & dirt pan (good cond.); Thomas 700 skid steer loader, quick -tack fork & bucket, .42" (like new); 10 wooden skids to fit fork; New Holland 478 haybine 7'; New Idea 5 bar side rake; Int. 510 semi -mount, Targe box, 13 disc seed drill, grain, fert., grass; Gehl 7200 flail grass chopper, 2 yrs. old;.zero graz- ing wagon; Gehl Hi Throw forage blower, 52' of 9" pipes, 2 elbows, 2 hoods; Dion H.D. wagon & self unloading box with roof; Ford 612 harvester with 2 rowcorn head & pick-up; Ford 612 harvester with pick-up & cut -bar; Int. 175 power spreader with top beater, new apron (good); 25' pipe hay elevator, portable; 3 p.h. weed sprayer, 100 gal. tank, piston pump & hand nozzle; J.F. 3 p.h. rotary side rake or swath turner; Hydrein 3 •furrow, 14' bottoms, trip beam, 3 p.h. plow with gauge wheel; Teagle 3 p.h. fert., hopper spreader; Grain-o- vator, 125 bu. tandem grain trailer with blower & 2 flex pipes (like new); Int. 3 p.h. 11' cultivator with gauge wheels; New Idea 7' dou- ble auger snow blower; 1000 lbs. hi pressure washer with 2 h.p. electric motor; Onan 15 k.w. generator, p.t.o. on trailer with ext. wire; Int. 3 p.h. 7' mower; 3 p.h,. post hole digger; Walco 3 p.h. 7' scraper blade; Frey front mount stone bucket; Teagle 3 p.h. 10 cu.' ce- ment mixer; J.D. global disc; F. Bissell trail dou- ble disc; •3 drum steel land roller; 3 p.h. buzz saw; stone boat; 4 sect. harrows with 3 sect. stretcher; 12' 4" grain auger with motor; Air-o- ator; bench sleigh & rack COWS: 14 purebred Holstein cows with papers; 5 grade Holstein cows, of these cows, 3 are due at sale time, 2 are due Oct., 3 fresh June & July, balance information will be given sale day. HEIFERS: 6 purebred Holstein heifers & 2 ;grade Holstein heifers due from Nov. - Feb., breeding dates given sale day; 7 open purebred Holstein heifers, ready to breed; 4 open purebred Holstein heifers, yearlings; 1 grade Holstein heifer yearling; 5 purebred heifer calves, 2-8 months old. Note: all purebred cattle will be sold with papers, unit bulls used, herd of cows are on D.H.I.A.. All cattle are listed herd, preg. checked. All infor- mation given sale day, plan to attend. MILKING EQUIPMENT: Bou-matic .milker pump with pipe for 25 cows; 2 De Laval floor milker units; dumping station with 120' stainless steel pipeline complete; stainless steel pails, strainer; pail rack. MISC. ITEMS: Bee electric fencer; cattle clip- pers; dehorners; hoof trimmers; calf puller; 8" ' table saw; 4" jointer planer; approx. 50 sap buckets & spiles; tractor chains for both trac-' tors; 36' alum. ext. ladder; partner chain saw; 2 round steel hog feeders; caster -crate; 4 far- rowing crates; dry stalls; roll barb wire; steel posts; 2 water tanks; loading chute for 1/2 ton truck; grain cradle; Jack -all jack; Albs wagon load of farm tools & misc. items. TERMS: Cash or Cheque with proper I.D. sale day. Owners or auctioneer not responsible for accidents or loss Of property sale day. Owner quitting farming because of heart cond. This is an excellent offering so plan to attend. Proprietor: GLENN NOBLE 338-5322 Ata ioneer: BOB GILMORE 291-3489 AUCTION S•ALE Qf 45 Acre Hog Farm, Sows 4 Feeder Pigs, Misc. Machinery & Farm Tools For:. TRIFU (TOM)' & ANNA BARBU Lot 19-20, N.H. Con. 5, Wallace located 1 mile east of Gowanstown & % mile north or 6 miles north-east of Listowel on: Friday, Sept® 14, 1984 1:00 p.m. sharp FARM: Consists of 45 acres, productive land with creek through property, approx. 3 acres mixed bush. On this property is house with kit- chen, dinette, living room, bedroom & bath on main floor, 2 bedrooms upstairs, full basement, oil furnace, alum. siding, small barn 40' x 40' set up for dry sows upstairs, downstairs has 28 farrowing stalls, nearly new feeder barn 40' x 120' attached, 6 compartment farmatic mill, 5000 bu. steel granary, 10 tonne steel feed bulk bin, 2 manure pumps. Terms on property are: selling subject to reserve bid, property will be offered for sale by auction at approx. 2:00 p.m., buyer will pay 10% of purchase price, cash or cheque sale day, balance in 30 days on closing. SOWS & FEEDERS: Approx. 25 sows with lit- ters; 5 sows due Sept.; 9 sows due Oct.; 9 sows due in Nov. These sows are York x Lan- drace, some Hemp, 1st, 2nd & 3rd litter sows, good size sows & good size litters; 2 purebred York boars. CHUNKS & FEEDERS: Approx. 240 pigs from 50 lbs. to shipping weight. MISC. MACHINERY & FARM TOOLS: 42' 6" grain auger on carriage, p.t.o. drive; 12' 4" auger with motor; Ford 3 p.h., 3 furrow plow, 14" trip beam; utility trailer & water tank; spreader (trailer); 6 section harrows & stret- cher; 8' single auger snow blower; 10 round steel hog feeders; Lincoln 225 amp electric welder; steel cut-off saw; electric shop heater (220); plus farm tools & misc. items. HOUSEHOLD: Large dining room table (needs refinishing); small lamps; Franklin fireplace stove; plus misc. items. SALE ORDER: Starting at 1:00 p.m. sharp with household items, misc. farm tools & machinery, property at 2:00 p.m., followed with sows & pigs. These are good quality pigs, so. plan to at- tend. TERMS: Cash or Cheque with proper I.D. sale day. Owner or auctioneer not responsible for accidents or loss of property sale day. Proprietor: TOM BARBU 343-5878 Auctioneer: BOB GILMORE 291-3489 AUU1ioN Slo►LE Of Appliances, Furniture & Antiques for: GORRIE UNITED CHURCH MANSE & THE ESTATE OF LIL CAMPBELL 'Harriston at Gray's Auction Centre, corner Hwys. 87 & 89, 1 mile w. of Harriston on: Sat., Sept. 8, 1984 at 10:30 a.m. APPLIANCES: Large Zenith freezer; Inglis washer & dryer; RCA 30" gold ,stove; RCA frost free fridge (gold); Simplicity apt. size dryer; McClary 24" stove; ,.old Kelvinator fridge; wringer washing machine; humidifier; Electrolux vacuum; G.E. floor model radio, working; record player -& tape player; small electrical. appliances; 26" RCA floor model col- oured TV. FURNITURE & ANTIQUES: Dining room table, 6 chairs & hutch; hall table with drawer; hall table; oak buffet; dressers & mirrors; wooden' table with metal top; wooden high chair; upholstered chairs; double ped. desk; chest of drawers; hall tree; 2 old wooden tables; wooden rocking chair; chrome tables & chairs; small table with spooled legs; small table with glass tray on top; 4 pce. bedroom suite; coffee table & end tables; wooden chairs; chesterfield & chair; cupboard with 2 glass doors; footstools; card table; portable fireplace;" occ. chairs; telephone table; 2 day beds; rocker recliner chair; pool table; maple bunk beds & dresser; wardrobe; wicker cradle with hood; , Berlin piano and bench. CHINA & GLASS: Royal cAlbert Trillium pattern setting for 8 plus tea pot &.veg. bowls; 7 demi- tasse cups & saucers; pinwheel ped. fruit bowl; pinwheel relish dishes & ped. candy dish; 6 pin- wheel crystal goblets & sherbets; pink rooster on nest; red cream & sugar; glass chicken on nest; pink milk glass bud vase; large satin glass basket; pink vase with fruit on it; 3 crackling glass pitchers; 2 purple glass baskets; small red & white pitcher; piiik candy dish; blue cheese dish with flower; purple finger candy dish; vases; knick knacks. CLOCKS: Gingerbread clock; mantle clock. MISC.: Lamps; mirrors; pots & pans; glasses; misc. dishes; books; 2 quilts; train set; exer- cise bike; large brass airplane; Hanover milk bottle; brass hanging Tamp with flowered shade, pulls up and down; parts for. hanging lamp & prisms; jars; garden tools; pictures & frames; wooden ext. ladder; Lacrosse stick; typewriter; air hockey game; 4" vise; old tools; washtub stand; large wicker basket; railroad lantern; h.p. light shades; brass floor lamp; Avon bottles; electric paint sprayer; Queen Ann oil lamp; blue oil lamp with snake; ass't Edison diamond disc records; approx. 200 assorted records - country, pop, square dance, in- strumental, etc.; roasting pans; copper boiler; hot plate; 2 carpets 9' x 12', red with pattern, good. TERMS: Cash or Cheque with proper I.D. day of sale. Owners or auctioneers not responsible for accidents day of sale. Any announcements or correction's given verbally day of sale. Lunch Booth., Auctioneers: BARRY '& KEITH GRAY Harriston (519) 338-3722 or 343-3607