Lethbridge Herald, The (Newspaper) - August 8, 1973, Lethbridge, Alberta
2 THE LETHBRIDGE HERALD Auguit W3 Lumber giant doubles earnings but attacks B.C. economy ROBERT W. BONNER VANCOUVER Pre- mier Dave Barrett's prediction of a boom next year is a bust. That's the word from Mac- Millan Bloedel chairman Rob- ert Bonner and Social Credit Leader W. A. C. Bennett after Mr. Barrett released a mid- term economic review with the prediction that British Colum- bia is heading into what could be it biggest boom in history. crest of the so-call- ed boom that we've had contin- entaJly was passed some months Mr. Bonner said. have reason to expect some slowing down in this and this slowing down should increase within the next few Mr. Barrett's for the fiscal year ended March showed government rev- enues were up a record 16 per cent while the gross provincial the value of all goods and services produced in the rose 11.5 per cent to billion. But in presenting the review in Mr. Barrett warn- ed that the province will face inflation along with the boom. Mr. Bonner root of the slowdown we're experi- encing is inflation. We canit ex- pect the boom to continue when we have the inflation rate we currently he said. Mr. Bonner also criticised Barrett's announced intention to maintain a million cash reserve account. the province is speak- ing of surpluses and funds like this I think back to the crri- cism from business when the last budget was presented. said tax increases in the budget were not necessary and Mr. Barrett seems to have proven he said. Mr. Bonner was joined in his criticism by former Premier who said Barrett's ec- onomic policies have sent con- trolled growth practiced under his government into in- flationary spirals. originaUy created the but we had policies to control it. We kept govern- ment salaries and spending down but lie has taken off all the restraint and caused this Mr. Bennett said. He also said in removing re- straints and allowing the Barrett government is hurt- ing those on fixed incomes. MacMillan Bloedel this week reported net earnings of million or a share for the six months of more than double the million or a share for the same per- iod of 1972. The company's sales and other income for the six months ending June 30 amounted to compared with million for the first half of 1972. In its report to the company said the increase in net earnings arose principal- ly from greatly improved mar- kets for all the company's prod- especially lumber and favorable movement of the Canadian dollar relative to the U.S. dollar and the de- crease in corporate income tax liability by about million due to the reduction in corpor- ate tax rate 'applied to income of Canadian manufacturing and processing operations. The report said the period's results also reflect utilization of million of investment tax credits by the company's Ala- bama operations. In a report to Mr. chairman of t h e said the increased earn- ings came after a period of low returns on capital in recent years. of the present favorable business climate de- pends in large measure on the ability of the United States and Canada to control disturbingly high rates of inflation and par- ticularly on the ability of the United States to manage and maintain a desirable rate of ec- onomic growth without unduly impairing consumer credit arrS said Mr. Bonner. W- A. C. BENNETT SELECTIO START YOUR DAY RIGHT WITH ESHING JUICE B Town House Sweet or B Unsweetened Orange ff 0 48-fl. ox. tin PRICES EFFECTIVE IN LETHBRIDGE AUG. 8-11. Empress G.L.O. or Seville Orange 24-fl. vi. tin ttf Hi R IfllLli a-f- TT R VV COFFEE Safeway Ground All Purpose 1-lb. pkg. LUCERNE Butter Dutch Choc Butterscotch Maple Cherry Rocky Ranch Pecan..... pint ctn. AIRWAY INSTANT net wt. jar 1 .29 CHOCOLATE SYRUP 16 01. net wt. tin Extra Saving for Cl A C Shirriffs 4 Flavors to Mix or SUNDAE TOPPING o 8-oz. net wt. jar Extra saving for ICE CREAM CONES Safeway Price 69c irlic or 49c Safeway Prices FRUIT SALAD. Lucerne Jellied 12-oz. net wt. AQf SPECIAL K Kelloggs Cereal 1 T-oz. net wt. LTIf pkg............... WIENERS BEANS. Burns. 24- oz. net wt. TQf tin BEEF STEW. Burns 24-oz. net wt. tin DILL PICKLES. Rose Garlic or no Garlic 32-fl. oz. jar PACIFIC OYSTERS. Cloverleaf 4-oz. net wt. tin............. 05C KOOL AID. Sweet Drink Mixes Asst'd. Flavors A 9 Of 4-oz. net wt. for DRINK MIX. Sweetie. Asit'd. Flavours. L okg....... O for ROASTING FILM. Look LQf 5 roll DETERGENT. Joy Liquid 24-oz. bile..... CONFIDETS Pkg. of 48........ SHAMPOO. Silvikrin for Nor- mal Hair 7-fl. oz. btle....... 'C BRYLCREEM. Hair Dressing 4.5 fl. oz. 1 QA tube FRUIT SALTS. Enos 1 1 Q 7-oz. net wt. btle. DISP. DIAPERS. Baby Scott Regular JQ Pkg .of 30...... I DETERGENT. Joy Liquid 32-fl. oz. btle DISP. DIAPERS. Baby Scott Newborn 1 Oft Pkg. of 30..... I.AT UTILITY BAGS. Baggiei Plastic 20 bag MQ DISP. DIAPERS. Baby Scott Overnight Pkg. of 1-2 1.99 83c FROZEM FOODS JUICE Bel Air Concentrate 12V4-ff. tin for ICE CREAM 2 r FRIES FRIES Air Regular Canada Fancy Potatoes .............2 Ib. bag Bel Air Canada Fancy bag fa far 2 PEPPERIDGE FARM LAYER CAKES Devils Maple Golden.................13-oz. net wt. size WE RESERVE THE RIGHT TO lIMrT QUANTITIES Canada Utility Grade Frozen 6-16-lb. size Serving Suggestion Try DM Barbecued Ib. BEEF Regular Quality Ib. 99 BOLOGNA or GARLIC RINGS 99 69 HALIBUT Whole or Half Frozen 5-1 Olbs. 4 .29 Ib.