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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 28, 1971, Lethbridge, Alberta I S NE iwo pair lory price Co H. S ivoul i tie pires Sta that type nent that tt'orl hed Ity woul peels Sta meet utive leadc adm: did n urn! ond I nrale Th vo 't be ade tial press secretary Ronald L Ziegler declined to rule out the possibility of some type o freeze on profits or dividends after Nov. 12. On Wednesday, it looked ns though Leonard Woodcock president of (he United Auto Workers, was softening his opposition to the administration program. "As a practical matter during the 90-day period, we are going to anoperate with the he said. The next day an Auto Workers spokesman said Woodcock had decided lhat "co-operate1 was too strong a word. "Whai we're doing is to hang on nnc see what is going to tlie spokesman said. But the big boost for the president came when the Japanese government decided to let the yen float on the foreign exchange market beginning today The government's action after two weeks of trying to hold the yen to a parity of 360 to the dollar, was a major victory for President N'bton's program to put the U.S. trade balance back into the black fn Geneva, the United State's major trading partners sgreec Thursday not to take any retaliatory action against the new U.S. 10 per cent import surcharge, but made it clear equate' wanled it lifted as soon ft possible. They also agreed to join with the U.S. in a special study of Uie surcharge and other nonmo-netary measures in Nixon's new economic policies. At the insisl ence of the U.S., the President1 measures to bring about roval ualkra of Hie Japanese and major European currencie were barred from the study. In other developments this past week: Federal Home Loan Bank Board reduced the liquid ity requirement for savings and loan associations to seven per cent of their assels from 714 pe cent to free up to million in extra Funds for mortgage lend ing. Officials said a greater supply of available mortgage money should help to exert-some downward pressure on in ierest rales. commerce departmeji reported a record-breaking fourlh straight monthly defici in foreign trade for July, mak ing 1971 to date the worst trad ing year in U.S. history. government said its composite index of leading economic indicators rose 1.4 per cent in July, and that revise i could mean some manda-reslrainls on wages and s, it was revealed here, mmerce Secretary Maurice ans told a news conference voluntary" approach dn't be adequate lo prevent v outbreak of inflation after wage-price-rcnl freeze ex-Nov. 12. us said the only courses could be ruled out were the of comprehensive "perma-wage and price controls" existed during the Second d lie said, however, d not rule out the possibil-hat post-freeze restraints 3 have some mandatory as-jis' comments came after a uig with 11 industrial exec-s. He said the business rs wanted to be certain the nistration's economic plan ot terminate after 90 days hat there would be s that would "lead ulti-ly to a free market." White House said all op-were open, and lati ?r thu City of Ltrthbrldw, In the Province of Alberta, who dltd on the 25lh day erf July, A.D. 1771. TAKE NOTICE that all pvriont having claim upon fha