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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 16, 1970, Lethbridge, Alberta Unntrt Aftf NSJUUA .1 QUOTATIONS (Sapptied by Bsadhsnst and McCualg) LAST BO) Taxes And Law r i T iss OOF mian ill jS ItmeM' L I. AtTEK PJ H a Wtr- h> kw, the Prime Maisaar ex- his TieM the ae- eptohflity tl American uihjral aad umaaeiilr afluenoe PU TV ttsigs am Caaeada. As he put it, wtt ti- n Mrys iSeome tte importatkei bt those ths United is Ktae 'arc soper- m or to wbfle reJectiBg those Biiraai Department be-t he is to it and lermme m advance how Gov-oment will treat tt for tax rpOMiL remove, the Russian alette tax aspect from doing If the U.S. taxpayer it happy with Govent-eafs advance ruling, he may ipeal it. The Carter Commis-on approved the advance rul-t system and urged that it be irt of the tax reform plan. Advance ratings on the legal spBcaHoiii of a bosjness trans-dioo have long bees common many other branches of the rw. For instance, when a corn-any wishes to issue shires, it Mains a ruling as to what re-uiieiiatnui must be met by the jcurtties commission, befon M issue Is offered to the burrs. TED RULING The need for an advance ruing system win be greatly in-reased with the introduction at M new tax system, since no De can be certain as to how he courts will interpret the new xncepts once they are applied o actual commercial events. In the absence of this innova-ion, .there arises an outstand ng opportunity for Canada's in-orance uidusUy to prorhice Keded product: tax msurabce. "Sc taxpayer would produce the letaih of bis proposed transac oca to a board of experts with statement of the expected tax resulbj. The tax insurance com-nay would then evaluate th risk, charge a prerniura aad parantee the tax results. The taxpayer would be happy i e c a n s e he would be guaran-eed no unpleasant surprises Be tax -insurance compan would be happy since it shouk make a profit; and the receive hatt Hit aasor-aDee company's fa tax. But, to ressurect an old wir-time question, Is thb trip really accessary? (Mr. Asper Is i Winnipeg lawyer) list rial Production Strong OTTAWA (CP) The Domja-oo Bureau of Statistics' impor-ant index of industrial prodoc-ion recorded a strong gam in February, risiJig to a record 74.6 from 170.8 in January. The index, based on 1961 output equalling 100, measures almost one-third of Canada's total production, and is rignifarant because it quickly reflects movements in business cycle. In percentage terms, maon-'acturiog, accounting for nearly one-quarter of total Canadian production, rose two per cent, iritli emphasis on a 2.6-per-cent increase in output of durable goods. Production of mines, quarries and oil wells was up 4.5 per cent, and a one-per-cent increase was recorded for electric power, gas and water utilities. to our ia If tfcai yardstick applied pi D the Goverament'i Uz reforms, much of the carrent dis- hi yxrj migU be harnuosously re- tornd. In many respects, Caoa- b MJJ tax law is still primitive, li compaved to its United States p Foonterpart, y.et it i c Livestock Lethbridge Livestock (Supplied by Canada. Department of Agriculture) On offer to 11 a.m. 200 cattle. Receipts mostly good and choice butcher steers. Cattle market active. Cord aad choice ught butcher, steers meeting .era denand. Prices strong to 2S eeits higher for the week. Steers over 1200 pounds are be-M {tiscoonted 50 centi per hundredweight. Good butcher heifers scarce and selling steady. All classes of cows sell readily at form 'prices. BuDs steady to iong. Medium and good stacker and feeder cattle meeting ood at steady rates. Choice steers 31.50 to.JZJO; good 31 to' 31.50; medium Good heifers S.50 to 30; me-him 28 to S. Good cows to 24; me-Sum 22 to 33; cabnefs and cotters 19 to 2Z. Good baus 2E.SO to Good heavy feeder steers 31.50 to 33.50; medium 28 to 30. Good Hght stock steers 34 to 36.80. Calgary Livestock CALGARY (CP) On PlelM Pete the B Dot 1 0 wo oik ton me IX 1 HO ia tod an JO eat we S mi mi PK to IV tf M pr tea ra tM of Gi time Wednesday, ReW was op VA to 15. Btar, which was up li to DM ottered to boy all is-i Boutin Rod shares tt 115 i index today, industrials t op to Western .lost to 177J4 after efaiag a tow of 177 .26, its 1 to and base tab M to 114.45, WT TRADE IONTREAL (CP> The rjtreai stock-market firmed all sectors except papers ay. Trading continued ligb 1 the pmyrite moved ahead to 17t.se to record the bigb-gaeni made ia tbe-Jast two Bflaor oQs aad pHifliBM were Kd with Imperial Oil the active at IStt, op Vt. later-mnrial Pipe Lines gamed tt ZU4. AqrJtaue declined V J2 Pre Mpa wt ITS Drurte F U.S. 11 TORONTO MINES, INDUSTRIALS Supplied by Richardson Securities 'of Canada LAST BID OR SALE a.m. Quote) Ouote! e.m. Quotes) 1 NDUSTRIAL5 Motoon'l A L e 14. SB ihHKJ 11 37Vi Wobwrt M I.OO Ctrt BW Glint Futures WINNIPEG (CP) Trading light in the Maritime potato futures market Wednesday. Close Wed. Mhy 3.70 3.60 Nov J.M 2.3S March 2.65 2.S3 "S about WO head, mostly slaughter cattle of mixed quality. Trade was active. Slaughter steers were steady, heifers scarce steady prices; cows were in short supply seOmg steady and bulls were SO Choice slaogiter steers 31.25 to 31.90, good 30 to Jl, medmm 28.75 "to 29.75. Choice heifers 30-30.80, medkm 28.75 to 28.75, good 27.25 to 28.50. Good cows 22.75 to 23 medhnn HJO to 22JO, canners and cotters IS.'TS 21.75. Good bub 27JO to FARMERS and STOCKMEN if You Want TOP DOLLARS for your LIVESTOCK Consign to PICTURE BUTTE AUCTION MART Ideally locaHd .In thi of cattU foodinf and Kofl.rbttiiTS ano and Massey Inn n ID and Beef Futures WINNIPEG Trading was light in the Winnipeg bee futures market Wednesday wi some ofiers fire to 10 point imder.tbe previous dose bul there .were no .buyers. May 3157 31 May 288ft 282Yt JKVt Jly 278% Mitt Nov Ml 235V4- 237% Jan 279 229 May ..74V4 74H Dec -r- would have to make before taxes in order to recover his cost. If he knew that n advance perhaps be wouldn't incur the expense. There's the nib. There is no way under Canadian law in which the taxpay er can be assured as to th iltimate, tax. consequences o as proposed actions. The Gov eminent does not issue 1 Ii -28.1M IANKS Bath Imperial M-73 MkVlm 11 Dom Bridoe s MIND New Calumet Mt Dom TtictUa 11 Advocate' 5 !S Ncranda Jfy 30JO XX Sea NOT cattle were scarce with a good demand at steady prices.. May 107% 1BR4 IffW Jly -r- 107V4 Oct Storet 52 Northgate M.75 Dome Ptfa iTw J.50 OpemBki Fam Play 11.00 iron .43 Osfekij 3i Fd of Amef cons. Rambler 1.01 Sherrltt Gordon rulings. There, are several soch areas of uncertainty in the law wber a false step or an incorrec opinion on the tax S CLASSES INSURANCE _ AUTO HOME WJSWESS -T 3rd fORSTffljjtStNCf- 106 Rye May 102H 101% Jly 104T1 104H Oct 106% 106 106H Dec be disastrous. For example a merger between two companies may be accomplabed tax ne, or, at the discretion of the 2x division, may cost minion of tax dollars. There's no way Gp A 7.75 Coctwixxif 51 Stetp Rock 4M rnt Utiiitfes Crirjnxnt 1J.7S Siscoe LONG ESTABUSHED DCAlHtSHIP IN CITY OF lETHBttDGE ftoquirts EXPERIENCED MOBILE HOME SALESMAN Income and .altowancn ocwn to ntgotiatwn. HErlY IN CONRDBKE TO BOX 73, Prices EDMONTON (CP) -.Pricei to 11 a.m. today supplied by Ut Alberta Hog Producers Mar ketmg Board: Edmonton: Quoted 38.55 t 21.CS, selling 28.65. Wednesday' avenge 28.42. Calgary: Quoted 28.85 .1 28.90. SeUmg 28.90. Wednesday! average 29.04. LethbrUge: No sties. neaday's average 2S.30. Total hogs soW to 11 a.m. W Sows at an points 23.45. oesday's bog sales Aver age 28.59. Accwt ItaW Dlcktrson Mine 5.IS Corp 7.10 US Denlson Minei W.75 Texmonl 67 Kelly Doug A Deer Horn 10 Upper Canada l.n Loeb .TTr. 5.17W D'Eldona .M Wtsteni '.ii Loblaw A Dome Minn 41.00 Wright Har. .1.15 Metro Sforej K.OO Donalda .57 Willroy 1.11 S ffKXI Ferg U.SO Discovery Mine! Windfall 15 M.1M East Malarllc 1.10 Yellowknifc Br. tM e Moora Corp East Sullivan e-U Zcnmac 15 I NEW YORK STOCKS o Supplied by Richardson Securities of Canada S Amer. T. end T. Montgomery Ward 51.M JO Sokh od .50 L Anaconda 21.75 Sears ei.75 10 B Mef) 1U.54 up .03 h Steel SsTVi Itendard Oil NJ. 55J7V4 15 W Oiil off DvpMrt It'iwioo JSotowrh XI.OVi 30 Indutt olf J.7I 1- General Moton El al.aTO 70 RaiB M Gutf M75 U.S.' Steel 3t.3TVt IS Utib 115.54 oft .74 Int7 HarvMteV TOKOarTO AVIIUWK Stocto 75L31 elf Department wul exer rise its discretionary powers. TIMES CHANGE This might have been accept able in the days when tax rates were much lower ant cummer ce followed a more repetitive: course. But this is no Sooger the case. The cost of gnessin wrong on the tax impact of transaction cannot be afforded by most taxpayers. If Mr. Trudeau wishes to accept the best features of American bfe, it's difficult to under stand ,why the White Paper OJ tax reform fails to recommend the adoption of- the: U.S. rufc which p e r m 1 1 s a APRIL 18th at 1 p.m. REGULAR CATTLE SALE 400-HEAD-400 30 COWS WITH CALVfS at from owner SO STtHS AND HBFBB 550 Irem owner PLUS All CLASSES OF CATTU :MO TO 400 HO6S M bred filfi from FOt fURTHH MFORMATtON CONTACT FIGURE BUHE AUaiON MART JOI or JIM JURIS 732-4400 -x 732-44M PMiirf The automobile-is pride of ownership slowly dying? Mercedes-Benz examines the relationship of man to his automobile. Offers a few facts, and a conclusion. WLU most people eventually buy .whatever car meets their particular needs most exactly, at the lowest cost per mile? Undoubtedly, this Is a growing trend. As a man's discretionary Income grows, he Is no longer Inclined to throw most ot it into a bigger home and a more expensive car the burgeoning sales of boats, snowmobiles, skis and travel tickets testify. Mercedes-Benz will probably not sutler from this trend. Indications are that many Mercedes-Benz own- ers buy the car not because tt is In their price bracket but because it is skilfully engineered and carefully put together. Because It Is tasteful and functional. Eighty-five per cent of Mercedes-Benz owners re- certify surveyed own watches which cost at least Our conjecture is that this kind of man buys a good watch because he knows it Is precisely made and will last a long time. And he feels It Is In good taste. Whether other people know It is an expensive watch la irrelevant: so Is the fact that a cheaper way of telling the time would be to buy a watch every year. We believe that many Mercedes-Benz owners fall Into this psychological type. They get satisfaction from feeling an exact response to the merest flick of the wheel, as compared to the vague reaction of normal power steering. '.They derive feelings of confidence and serenity from .titling. In. a seat that fits snugly and offers firm support because orthopedic surgeons helped design tt seat that reels as though it belongs In rather than in a club or a living room.. They gain satisfaction from living with automobile styling that combines function and good taste In time- defying fashion. (The body of the 280S shown above ras Introduced In 1967; It looks undated today and will, we believe, continue to do so.) Our conclusion: the purchase fine.automobile such as the Mercedes-Benz will become only when man loses his aesthetic sense. Send for Itn free, full-colour brochure that tells Ml about the new can from Mall (till coupon to: ol Csmds Ltd, 1, Ontario. NAM_ R Sjgjc ntt1p.'lct, arc.'wih F.O.B. ftovfatil Mercedes-Benz -DAMUR-KNZAQ- PRO MOTORS LTD. 1520 2nd Avtmw S. Uthbridgt Alto. PhofM 329-4021, 32S-4MS ;