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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - August 28, 1971, Lethbridge, Alberta Soturdoy, Auguil It, 1971 THE IETHBRIDGE HERALD 29 Has U.S. devalued its dollar? idle moments lor Ed McMahon lly JOHN CUNMI'T AI> UiiMmuu Aiinlyst Officially, the only way the dent Nixon's pronouncement into dollars would be worth NEW YORK (AI'I llns Ilie raise the ]jrifc ol gold from SII5 dollar can be devalued'is to! Aug. 15. LilUe movement was United States devalued the dol-' an ounce. That was the price picked up on the second day. noted, although the tempo Jar? The U.b'. government says no. Foreigners arc inclined to agree that the dollar hasn't been de- valued hut say it should be. And Ibc U.S. guaranteed for (be dol-! Monetary analysts [eel (hat lar; but lhat convertibility has j seems to know Japanese yen will rise by about 10 per cent, been abrogated. WON'T CONVKUT It means Ilia! for the lime i the German mark by a some-J failure. Ihe U.S. would give more gold for them. In using Ihc tactic it did, the U.S. pcimilled itself to be selec- tive. And it avoided Ihe stigma that goes with outright devalua- tion, wluch usually is associated Ihe foreign currency exchange being, the U.S. declines to con- iniirkelj have not rendered conclusive answer. Nevertheless, some observers and involved parties are saying openly that Ihe dollar has been devalued. What's the difference, Iliey say, if oilier currencies ai'o forced to revalue or the dollar is dc-alucd? The distinctions aren't clear. In fact, it's largely a mailer of formality. The U.S. hasn'l offi- cially devalued and isn'l likely verl into gold dollars held by foreign central banks. Wilhout this link, the dollar becomes whal traders arc willing lo pay for it. It is floating. what smaller percentage, the French franc by maybe three to five per cent and Ihe British pound by one or two per cenl al most. If other currencies are thore- the dollar, it has the same ef- to do so despite growing pi'es-1 change transactions in the first In all probability this means j fore worth more in relation to Ilial the value of some foreign currencies will rise in rclalion to the dollar. The feeling is that (lie ratios were out of proportion for years. Confirmation of this, however, did not come from foreign cx- eurrencies, although certainly not those of major nations. GAVE sures from abroad. day of trading since Ihe Presi- j in his news conference j 6, Treasury Secretary John I Connally gave Ihis explanalion: Relations improved The U.S. tactic was lo loss the ball to the other nations and lei them do something with it. They had been highly critical of the United Stales and had long been insisting lhat il lake action. WANT SOMETHING ELSE The action they had in mind, Ed McMahon's appcaraiirt each weekday night on ''The 1 Tonight Show Marring Johmn i Carson" is usually the climax i of a busy, sometimes hectic, day which is Ihe way he likes ''I. "I'm really happiest when I'm bi'sy. I can't stand being j i said the CM" McMahon. I who has been the announcer j for Carson's late-night enter- tainment show since il began i on lire NBC Television Network Oct. i. 1HB.-J. McMahon Carson's I sidekick in :'M, as announcer for "Who Do You far- ing hip career he has hoMfd three daytime scries Judgement." "Minting Links" and "Concentration" t and lias been a guest on numerous lelc- vision shows Me headlined Ihrec specials on NBC-TV in season, "The Greatest Show on "America's Junior Miss Pag- and "Timex Presents the All-Star Circus." He will host his fwrin NBC-TV special. "The Timex All Slar feet as a only howcver, was for the U.S. to in rclalion lo certain currencies.' It could develop that the dollar may rise in relation to other ever, restore the dollar's value by a harsh domestic program lo re- duce inflation. Now that the U.S. as acted, foieign nations must decide what lo do. They must revalue their currencies or recognize that inevitably Iho markelplace will do il for Ihem. KliNT S'J'l'ItWS ANCHORAGE (AP) Rela- tions between Alaska and Japan have conic a Jong M-ay since Uniled States and Japanese troops engaged in a bloody Sec- ond World War battle in (he Aleutian Islands. Japanese troops were dis- lodged from far-flung Altu fs- land in 1943, bill the Far East counlry now enlrenched in Alaska is a significant force in the slate's economy. "Alaska economy is in many respects (.icd closer [o Japan than to Ihc continental Uniled Slates." says a recent report ironi the Alaska department of economic development. Japanese capital investment in Alaska is estimated to exceed 5200 than the- 'Jeep' Gladiator Blgger.Jeeiier For large campers or heavier loads GVW TO IBS. Tesi-ufire ihe extra go-power o( 4 Wheel Drive UNITED MOTORS CO. LTD. Cor. 3rd Avc., 3rd Si. S. Phono 327-2805 "Now in my own judgment.' b'incc any revaluation will Ihe dollar is going lo rise vis-a- i hurt their trade balances wilh vis some currencies of (he the U.S. they are reluctant to world. It may decline vis-a-vis act. othei1 currencies in the world.' Pressures now seem to be de- But to say that it is a devalua- j veloping to make the U.S. de- is a premature i value officially. That, loo, would deny foreign nations their ad- Thc distinction is this: ff the, vantage in American markets, U.S. had raised the pi ice of gold; but it also would embarrass the number of Japanese tourists I it would have meant lhat all U.S. asd force it to share the total Japanese investment in Iho other 49 slates, says the report. Each week, Japan Airlines! lion, I think, touches down at Anc h o r a g e I judgment with 44 polar flights. And offi- cials say an ever increasing are visiting Alaska. BUSINESS INVOLVED The slale report says 17 Japa- nese companies have offices in Alaska, many more are doing business in the stale and ill least 27 firms have expressed interest in doing business in Alaska. The growing bonds will he strengthened Sept. 27 when An- chorage, Alaska's largest city wilh people, will be host to a historic meeting between President Nixon and Emperor Ilirohito who is en route to Eu- rope. The brief stopover will mark the first lime a Japanese em- peror lias set foot in ihe U.S. And the meeling lhat follows I will be the first between a U.S. president and a Japanese mon- arch. It also is a recognition of the i tremendous growth in Japanese investment in Alaska in last in forest and j marine products, petroleum and natural gas. j Japanese concerns investing in Alaska include such giants as Teikoku Oil, Taiyo Fisheries, fwakura-Gumi and Mitsui and Co. Ltd. Teikoku Oil is Japan's largest petroleum firm. Taiyo Fisheries is that country's larg- est seafood company, Iwaknra- Gumi is Japan's No. 1 lumber company and the Mitsui is the largest trading company in the world. The Japanese governmenl opened its 30th US. conr-nlatc in Anchorage last year, and the state government has a full- time trade office in Tokyo. Tne Japanese also are assum-1 ing a role in Alaska's blossoming oil industry. Norlh Slope Oil Co. has been formed by 2fi Japanese companies to participate in oil exploration and future oil lease sales. currencies that are convertible I pain. GOSPEL MEETING 2720 21st Ave. South, Lelhbridge CHURCH OF CHRIST Come heor Ihe BIBIE preached by Mr. John Coffman of San Diego, Cafif. No denominational creeds no doctrines of man- Bring your Bible and a friend. You will have the opportunity to ask questions al the end of each lesson. THERE WILL BE NO COLLECTIONS FROM THE PUBLIC EACH EVENING AUG. 22nd 29th EACH EVENING Transportation will be provided if needed Phone 328-5781 during the season On Uroaduay, McMahon sulr ftitulcd lor King in "The Impossible Years." lie also had a leading role in Ilie SCith Cen- tury-Fox movie, "The Inci- for which he drew iri- lical acclaim. His latest record- ing, in which he sings "Eeaii- liful Girls" and "Buddy's nines" from the Broadway musical is to be re- sooon. McMahon was born in De- troit, Mich., March 6. but spent most of his yoi'Lh in Low- ell, Mass. attended Boston College and began his career ii broadca-iiing on radio sta- tion WLLII in Lowell. During Ihe Second World War. he join- cd tne Marine Corps, becoming a fighter pilot and flight in- i slmclor. Wliile in sen'ice, he j met and married the former 'Alyec Fcrrell. Following the war he enroll- ed in Catholic University of America and majored in speech and drama. After graduation, he iK-carnt1 a Ir-levi.sion person- ality in Philadelphia. NOTICE COUNTY OF IETHBRIDGE NO. 26 SCHOOL OPENING Schools of the County of Leilibridce No. 26 will open at a.m. on Wednesday, September Isl, 1971. Teachers only report to Piclure Bulle High School on Seplember Isl, and Ihe day will be used as a preparation day. Studenls attending Picture Bulle High School will report on Thursday, Sepl- ember 2nd al a.m. and be prepared for a full doy of school. (Signed) County of Lethbridge No. 26 Yours Truly, COUNTY OF LETHBRIDGE NO. 26 R E. GRANT Assl. Secretary Treasurer JACK WHITE FARM AUCTION SALE From CLARESHOLM 3 miles south on Highway 2 and Vi mile wesf WEDNESDAY, SEPT. 1 -1 p.m. Having received instruclions from Mr. White, we will offer for sale at public auclion the following ilems, subject lo minor additions or delelians. TERMS CASH ihe day of the solo, with lettlemenl in full before removal from Ihe farm MACHINERY 12 fl. IHC, D5A 10" hoc drill with Kirchmonn fertiliz- er oNnchmonl; 12' Masscy Harris chisel plow; New Holland 68 PTO bnlcr; (l. baler devalor on Iransport; Oliver side delivery rake, 12 fl. crazy harrow with exlra 12' ring; Golden Arrow 42 sprayer wifh caSIOr wheels and 2000 gallon aluminum lank, late model; 35 ft. Malco grain auger, like new; 16 II. d" grain auger; John Deere hammer Rubber lircd flal deck; Manure spreader on rubber; Cock- shun 4 bollorn plow 1 h.p. electric molar and switch; 5 fool 'V" packtr; 250 gallon waler lank; IHC pony drill willi ferl. otlnch horse mower MISCELLANEOUS 75 ex ions ion rnblc; 5" bench vise; Leg vise; Ridged pipe? vise1; liyd. posl drill and bils; sluel grain auger forming mi TRACTOR LA. t hy) gfnd rilbbf- in COMBINE AND SWATHER Mrn-ry HnMn Ho. PO f.P combine wilh slmw culler, MtCny Rrnn pick-up; VerfOlile 15 fl. 5.P. r-wathrr. TRUCK 1966 IHC iruck, l.w h, A tpced transmission, non-slip fly wood shrrls; stoop shovels; small lap and die sfil; h? ton chain do I'M; ondk-.s', sel o( door clomps; 2 1 pipi; wrenches rncks for half Ion; 5 h.p. gos Ongmn; leg ehnin-i, chisels, hammers, rtc HOUSEHOLD Plnifn squarr motif I; TI laidmrr; 'rrq .1-5 cinl crrnm mm, CoI'Miinn ramp Move; vacuum cleaner; nicclric dollm-, dryer. 5 gal. cjns pails ond funnel; painl hpraying oulfil; Hoc. soldering gun swodn saws; hand sprayer; windows; foment mixer; roll new hnrbod wire; elnctnc c die It brooder; noils find screws PLUS NUMEROUS MISCELLANEOUS ITEMS AUCTIONEER'S NOTE: Descriptions given abovo CUP as n guJflc only. Tlie Auclionocrs or Iho Owners arc not rcspon- iiblo for en on m lo year or model of any Horns tilled NO GUARANTEES nrn expressed or implied. SALE CONDUCTED BY ROY'S AUCTION SERVICE GRANUM PHONE 235-2370 ROY FJORdBOTTEN DON WAIPER lit. 010737 lie. 010259 Facts prove it skidoa Better overall Wo wanl you to look at Ski-Doo early this year for a very good reason. We want people who.really know their snowmobiles to gol a good long look at Ski-Doo 72 before snow comes. You see. the longer you look at Ski-Doo '72. Iho more good reasons you find for buying il. Good reasons like the Rolax engine that's designed specifically for winter, so il starts even at 40 below. Keeps on going thanks to .1 heat-dissipating alu- minium alloy block, aluminium pistons and special cooling fins. Keeps going strong thanks to a balanced governor, clulch and drive assembly thai give you Ihe right lorgue at any speed. Then there's steering. Eflicionl sleering thai carves light turns. Ball joint steering for less play- Choice of bogies or track-flallenmg slide- suspension and a super-lough cab. These are just a few of the many, many reasons why Ski-Doo 72 has more going for you. And this is the season when your Ski-Doo dealer has plenty of lime lo give you all the cold hard facts. The season when the pros choose Iheir snowmobiles. See them now! BERT MAC'S CYCLE LTD. 913 3rd Avenue South LETHBRIDGE, Alberta ANDERSON SUPPLY LTD. Box 158 WARNER, Alberta ;