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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - February 3, 1973, Lethbridge, Alberta 30 - THE IETHBRIOGE HERALD - Saturday, February 3, 1973 - I 'Ji exchanges merge MONTRE.Mj (CP) - The governing bodies of the Mori -treal and Canadian stock exchanges announced yesterday they have recommended that the hvo exchanges be merged. Exchange officials said the merge would make the Montreal stock market more competitive with other exchanges. George H. Garneau, chairman of the board of management of the Canadian Stock Exchange (CSE), said at a news conference after the exchange's QUALITY DRY CLEANING BY THE LOAD 3-lbs. (Normal Garments) PRE-SPOTTED AFTER-SPOTTED By Our Attendant PARKS! COIN-OP LAUNDRY DRY CLEAN Opon Daily at 8 a.m. 2654 South Parkside Drive Phone 327-0811 annual meeting that exchange officials expect the merger to be completed by mid-year. A meeting of members of both exchanges is to be held Feb. 15 to discuss the proposed merger which Mr. Garneau said would also bring minor cost reductions, greater efficiency and avoid duplication. However, exchange officials said the merger does not mean that the speculative characteristics of the Canadian exchange would be lost, David L. Torrey, chairman of the governing committee of the Montreal Stock Exchange (MSE), said the merger proposal includes a plan to add a junior industrial and a mines and oils list ou the new exchange, Trhich would retain the name o� the Montreal Stock Exchange, IS INDUSTRIAL The MSE currently has only an industrial classification. The proposal also calls for the creation of an "interim" listing category for stocks which could be traded on a temporary basis pending qualification in one of the other three categories. The Vancouver Stock Exchange has interim listings but the Toronto exchange does not "The merged exchange will attract more listings due to its stronger image and due to its multiple listing categories if they are adopted," Mr. Garneau said. Mr. Torrey added that the listing requirements would remain the same in the different categories as now exist for the exchanges separately Also, dealers who are now members of only one of the exchanges would continue to operate within the categories. Initially, the Canadian exchange's industrials would become junior industrials on the new MSE. SAND GRAVEL ASPHALT TOLLESTRUP SAND AND GRAVEL Construction Co. Ltd. PHONE  REDUCE YOUR TAXES WHILE YOU PROVIDE FOR A  HIGH RETIREMENT INCOME BY INVESTING IN A  REGISTERED RETIREMENT SAVINGS PLAN What is a Registered Retirement Savings Plan?  Any sum of money Invested In a retirement savings plan which Is registered with the Department of National Revenue. The government permits contributions to a registered plan to be deductible for income tax purposes up to 20% of your earned income in any one year or a maximum of $4,000. Why should you have a Registered Retirement Sayings Plan?  Reduce your current income taxes.  Provide for a comfortable retirement.  Investment growth free of income tax and capital gains tax, while registered. How much income tax can you save? Your Maximum Contribution Your Income Permitted Tax Savings $2,000 $ 563 3,000 1,035 4,000 1,093 4,000 1,772 4,000 1,897 4.0CO 1,975 4,000 2,177 Earned Income $10,000 15,000 20,000 25,000 30,000 40,000 50,000 Before exemptions of $3,500 1972 Income Tax Rates, NOTEi Ontario tax rates used. 5avings would be greater for other provinces. How Much Money Could You Accumulate By Age 65? Annual wife and 2 children, using Contribution of $2,500 Age at Start With $4,000 With RRSP $1,473,168 940,500 594,300 369,296 223,060 123,012 66,240 26,092 Without RRSP $288,238 211,530 152,833 107,932 73,572 47,282 27,166 11,776 3% from Without of Plan RRSP RRSP 25 $920,730 $180,149 30 $537,813 132,206 35 371,433 95,524 40 230,810 67,458 45 139,413 45,983 50 80,003 29,551 �5 41,400 16,979 60 16,308 7,360 _____ Assume* (1) 9% annual return on Investment dividends and 6% capital gain*. (2) a 50% Ineomo tax rate. NOTE* Taxe* must be paid when funds are taken out of an RRSP) however, In spite of this, you would be better off with an RRSP than without it. CALL US IMMEDIATELY You have only until Feb. 28, 1973 to get your RRSP started in time to save your 1972 Income Taxes. EPSILONj AGENCIES WAYNE PIERSON 327-6834 IARRY LEAVITT 327-6834 Southern Alberta Agents: EARL JOHNSON DALE EVANSON Bow Island - 545-2620 Taber - 223-3856 BARNEU BENNETT RON HILL Taber - 223-3649 Taber - 223-2279 G1BB SCHAFFER - Cardston - 653-4024 A job toith a future Elizabeth Bisson, 99, of Seattle, Wash., has decided that the business of being a model is just her idea of a promising future. Fame reached out to Elizabeth when Goodwill Industries conducted a 19th century style show at Theodora Home where she lives. Producers picked her to model an 1873 costume. "I like being a model," she says. "I'd like to do more of it." Newsprint price increase �_  � MONTREAL (CP) - The �5 increase in the price of a ton of newsprint which went into effect Thursday was one of the few since the Second Wo2-Jd War not to draw sharp criticism from North American newspaper publishers. Newsprint prices have almost tripled since 1945 rising from $58 a ton in New York to the present $170. When many of the increases were announced various publishers' groups said paperma-kers were price-fixing and forming combines. There were demands for investigation by government anti-trust departments. While the latest increase was a small one, publisher reaction reflects the tight supply situation expected in the near future, and there are indications they are prepared to accept further increases. Commenting on Thursday's increase, an American Newspaper Publishers Association spokesman has said it is "indicative of a recovery. It's likely that the price will continue upwards as shortages occur." In the Intervening years, See the revolutionary make-up glasses available in your prescription ^% Specializing in the fitting of Eye Doctor's prescriptions  Children's Frame*  Reasonable Prices -*s o's Prescription Sunglasses Magnifiers  Repairs OPTICAL PRESCRIPTION CO. 308-^7th SJ>S: tfcf HBftiOgfe ^ Pftorie 327,360?, ' ' price increases-particularly those introduced by Canadian mills-were often labelled "un justified gouges" of American newspapers, and one year U.S. officials asked the Canadian government to intervene. The request was refused. But when demand has threatened to outstrip supply, publishers generally voice little opposi tion, and even welcome price increases. Immediately after the war, publishers pressed the U.S. government to lift wartime price ceilings from newsprint in anticipation of a post-war newspaper circulation and advertising boom. Newspapers were reported to be hard pressed to obtain more newsprint, and the price .lumped to $100 a ton by 1947 in the U.S. and $96 in Canada. But in 1950, the mood of the publishers changed when a $10 increase was announced because of tight supply. Non-contract prices were said to have reached between $160 and $200 a ton. The price crept up to $134 during the next five years until 1957 when a recession saw newspaper circulation and advertising plummet. Newspapers also were hit by the spectacular growth of television and newsprint production and dropped from 8.5 million to about eight million tons. SHOWN IN PRICFB The decline was reflected in prices, which remained at $134 for the next eight years, as circulations followed an erratic course. Advertising did not return to its pre-1957 level until 1965, and the newsprint industry has not operated at full capacity since 1956. In 1964 western paper mills led by Maclvlillan-Bloedel dropped the west coast price to $154, with the New York price holding at $134. CITY OF LETHBRIDGE SAVE $ $ $ RE; Prepayment of 1973 Property & Business Prepayments will be accepted after January 1st to February 28th, 1973, and interest will be allowed from date of payment to June 30th, 1973, on PER ANNUM any amount not exceeding the 1972 taxes. Bar Council condemns prosecution advantage LONDON (CP) - Controversial recommendations for enlarging the rights of the prosecution in criminal cases have drawn new criticism from the Bar Council, the organization which represents lawyers in this country. The criticism is the strongest and most influential yet voiced about the recommendations, which were made by the government-appointed criminal law revision committee last summer. Government spokesmen said Thursday the bar council's detailed expression of hostility to the committee's conclusions is not a setback for the administration but part of the general cuttpourmg of opinion hoped for when the recommendations were first made. The committee's proposals suggested changing the rules of evidence in criminal cases to the advantage of the prosecution. The recommendations by the committee of judges, law professors and lawyers included virtual abolition of the 'right to silence" traditionally allowed to accused persons both when in- Nixon: Teace starts with individuals' WASHINGTON (AP) - President Nixon, addressing the 21st national prayer breakfast Thursday, said "let there be peace on earth and let it begin with each one of us in his own heart." Speaking informally to 3,000 government leaders and diplomats, including Mayor Vladimir Promyslov of Moscow, Nixon said the Vietnam peace will survive 'only by the will of the individuals involved." The United States has the 'will, he said, and expects others to be of like mind. Nixon, who was accompanied by Mrs. Nixon to the ballroom of a downtown hotel, drew his longest applause when he said: 'For the first time in 10 years at one of these breakfasts, the president of the United States is able to say the United States is at peace in Vietnam." He added that history suggests nations that have been involved in war often turn inward when peace is achieved and said this only plants seeds for further conflict in the future. 'We must not let that happen now.' PROBLEMS AT HOME The President said he was concerned about problems at home-divisions among generations, races and religions. "There is no law that can legislate compassion,' he said, "there is no law that can legislate understanding. There is no law that can legislate against prejudice.' Each individual must share the responsibility for achieving such goals on a national basis. Students get life ZARAGOZA, Spain (Reuter) - A military tribunal sentenced five Spanish students to life imprisonment yesterady for their part in an attack on the French consulate here last November in which the consul was killed. terrogated by the police and when on trial. But Bar Council chairman Roger Parker said such a move would strike at the fundamental concepts of the British system of justice. It would "impair fundamentally the constitutional position of the individual,' said a memorandum published Thursday by the lawyers professional organization. The council rejected the committee's key assumption that professional criminals are being acquitted in large numbers. Instead, some of the corona i 11 e e 's recommendations would make it easier for hardened criminals to manipulate or- an acquittal, the lawyers' ganization argued. In general, the revision com-mitee's proposals must worry "all those who take pride in the quality of justice in this country and who recognize the vital importance of there being retained in our legal system safeguards to ensure that improper convictions do' not occur," the council said in its memorandum to Home Secretary Robert Can*. Carr will either prepare a new government study paper on the basis of the committee report and all the controversy it has aroused, or he will immediately prepare legislation for changes in criminal court procedure. Time-Iiinit speeding Supreme Court motions OTTAWA (CP) -A bid to end Sunday store-closing laws in Alberta and an Indian woman's fight to maintain her Indian status are among the appeals to be heard during the winter session of the Supreme Court of Canada. Both cases are high enough on the docket to ensure a hearing by the judges. Of the 90 appeals listed, probably about 60 will be heard before the session ends April 20. Court observers say the court has been able to hear more appeals during the last few mouths because judges are cautioning lawyers to stay within the 15-minute time limit imposed when motions are heard. For more than a year the justice department has been considering ways to cut down the court workload so it can consider only major questions of law. Of the appeals to be heard in the winter term, much attention is centred on that of Jeannette Laval who lost her Indian status when she married a white man. The Federal Court of Canada ruled that a section of the Indian Act striking women from the Indian rolls when they many non-Indians is contrary to the Bill of Rights. Indian men retain their status if they marry white women. The bid to end retail stores being closed on Sunday in Alberta comes from a group of stores in Edmonton. A similar end to Sunday laws affecting trucking will be heard. Motorways (Ontario) Ltd. is appealing its convictions of breaking Sunday laws and is asking that they be stricken from the Criminal Code. QUALITY DENTURE CLINIC EDDY DIETRICH Certified Dental Median)*. Capitol Furniture Bldg, tmm PHONE 328-7684 MB Coming your way soon; A chance to do exciting things. A chance to go places* See your military career counsellor. LETHBRIDGE - Feb. 7th and 8th, 1973 Bridge Town House Motel 12 noon to 8 p.m. Or, if you' prefer to serve in your own community a ppIyforCanada's Reserve Forces at your local Reserve Unit today. The Canadian Armed Force*. Give it some thought. dr68-60 '< You'd better hurry. Feb. 28th is the last day. The last day w to save orTyour 1972 income tax. You can save on income tax now while you save for your retirement. Up to $4,000 can be deducted from your taxable income when deposited in any of our Registered Retirement Savings Plans. Stop by and see us for complete information. Registered Retirement Savings Plans. Royal Trust 740 4th Ave. South Lethbridge, Alberta Phone 328-5516 ;