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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 14, 1975, Lethbridge, Alberta Friday, February 14, 197S THE LETHBHIOGE HERATD 17 Lavish living days over By JOSEPH DUPUIS CP BUSINESS EDITOR TORONTO (CP) Canadians face a lower standard of living brought about by "a materialistic romp of the last 30 a national conference on con- sumer issues was told Thursday. "It's happening now to some M. J. O'Grady, president of the Con- sumers Association of Canada, said in referring to the prospects for living standards in a slowed-down economy. "People are going to defer spending decisions this year, but I don't see a breadline-type of inflation emerging." Mr. O'Grady, in the opening speech to the one-day session called by the Conference Board in Canada, said con- sumers will have to learn to be temperate. "The great issue will be how to become temperate, or at least, slightly less intemperate after years of acclimatizing ourselves to a lifestyle of gluttons." About 250 delegates attended the seminar sponsored by the board, a private, non-profit organization of about 500 business and government organizations concerned with research and analysis of economic problems. The board's next conference, on the outlook for business, will be held April 2 in Winnipeg. Robert Rene de Cotret, vice- president of the conference board, told delegates that total consumption of goods in Canada should increase by nearly three per cent this year, with most of it coming in the last six months. Purchase of durable goods, such as automobiles, furniture and furnishings, should drop by per cent. But semi- footwear, show an increase of about one per cent compared to the 8.2- per-cent rise in 1974. A growth of 4.6 per cent was an- ticipated in energy, food, the services sec- recreation and the go up 7.5 per cent. Mr. de Cotret said that spending on auto parts and repairs should partly offset the loss to the economy of the current automobile sales slump. He said tax cuts of the last federal budget will put more money into con- sumers' hands and have a "fairly ma- jor impact on consumption." Consumers would reap tax refunds of about million from the 1974 budget, and about a third of this amount would be spent in the first quarter of this year, with the remainder in the April- to-June period. Mr. de Cotret said Canadians are ex- periencing severe economic read- justments that will probably continue through the first six months of this year. He said the board's forecast of last September of a one per cent increase this year in real output now seems "overly optimistic." He said Canadian consumers current- ly are more pessimistic about the economic outlook than in similar periods in the past. This was reflected in the dramatic drop in the last quarter of 1974 in the buying of non-necessity items, such as cars, and furniture. The recent improvement in stock prices should lead to an improvement soon in consumer buying attitudes. In his speech, Mr. O'Grady called for a national debate on what he described as the monopoly of industry in the mar- ket place. "We all know there's a problem, but we don't know the he said. "There is widespread suspicion that there is extensive price-fixing and market allocation in canada." Public ownership urged for oil sands project By STEVE KERSTETTER WINNIPEG (CP) Federal and provincial NDP leaders sounded a joint call Thursday for full public ownership of the Syncrude oil sands project in Alberta, and strongly criticized the federal government for agreeing to what they called massive tax concessions to private oil companies involved in the pro- ject. At a news conference following a three-hour meeting of party notables, parliamentary leader Ed Broadbent announced plans to press for a thorough in- vestigation of the Syncrude agreement by an all-party committee of Parliament. British Columbia Premier Dave Barrett and Saskatchewan Premier Allan Blakeney also announced they be willing to invest in a publicly owned venture to develop the oil sands. However, they put no dollar YAMAHA ORGANS I New and Used COLLEGE MALL Phone 328-3694 figures on their offers which they said were made largely because of the lack of sound federal policies in the energy field. Ottawa and the governments of Alberta and Ontario announced a provisional agreement last week with three major oil companies for the devel- opment of the Alberta oil sands. Under the proposed agreement, the three governments would pay roughly 30 per cent of the es- timated cost of the project. However, the NDP leaders said in' a statement that the people of Canada would end up paying a large portion of the total bill because of a variety of tax concessions. "Canadians from coast to coast fear that the deal in- volves massive public subsidy to multinational oil cor- porations, and that too little of the total money spent on Syncrude will be spent in Canada to create jobs for Ca- nadians." The NDP estimates that the Syncrude Oil Ltd., Gulf Oil Canada Ltd. and Canada-Cities Ser- pay a maximum net outlay of only J528 million while the public sector will pay J1.472 billion in investment, loans and tax concessions. Premiers Blakeney and Barrett both complained that the tax concessions offered to private interests in the Syncrude agreement were not available to their own governments. Mr. Barrett also said that 90 per cent of Canada's oil and gas supplies are in foreign hands, a situation he said was intolerable. Premier Blakeney said one of Saskatchewan's concerns is to assure adequate supplies of gas and oil in future years, particularly supplies needed for the agricultural seitor of the provincial economy. 'Pearl of Indian Ocean' on brink of civil war WINTER GAMES RED GRILLE SPECIAL i TASTY SWISS STEAK 1.6! Seasoned lo a gourmet's taste. Quality steak simmered in its own Rood1 cravy. Teamed up wilh garden Fresh venetables. [Served wilh roll and dairy rich butter. College Shopping 2025 Mayor Mill h Monday, ft Wtdnndty to P m Thuriday I Fridiy i.m. to p.m. DEPARTMENT STORES Salurdiy a.m. lo p.m. t [II WE RESERVE THE BIGHT TO LIMIT QUANTITIES By KEVIN DOYLE The Canadian Press In the island republic of Ma- lagasy, once known as the Pearl of the Indian Ocean, the slaying of head of state Richard Ratsimandrava has brought the country to civil war. The crisis in Malagasy, until I960 a French colony, began with Ratsimandrava's assassination earlier this week. The assassination was the work of an organized rebel group. An all-out anti-terrorist campaign by government forces managed to isolate in- surgents in a camp on the out- skirts of the capital, Tananarive, and after a bomb- ing siege of 30 hours, the camp was captured. However, pockets of resist- ance still were reported. A 19- man Military Council under Gen. Gilles Andriamahazo has taken charge of the island, 250 miles off Africa's east coast and just south of the Equator. Martial law has been impos- ed and France has despatched a naval squadron led by the aircraft carrier Clemenceau to safeguard the or so Frenchmen in the republic. Malagasy, with a greater land area than France and Belgium combined, has .been seething with civil unrest since its early years of independence. Save 7.88 on Men's Safari-Look Coat Brushed Cotton Coats Combine Groat Styling With Big Value A. Safari-look coal Inspired In the heat of a tropical night, moves into the 75 fashion scene. Fully lined in 55% Acetate, 45% Viscose. Top stitching; 4 flap patch pockets. Brass, Blue Beige colours. Sizes: 36-44. B. Handsome Cotton coat makes fashion news with a style taken from the shirt look. 55% Acetate, 45% Viscose lining offers a comfortable feel. Top stitching; 2 patch flapped pockets. Colours of Brass, Blue and Beige. Sizes: 36-44. REG. WOOLCO PRICE 29.88 Each YOUR CHOICE Men's Dashing 100% Cotton Corduroy Safari-Look Coat C. Adventurous look of the safari coat appeals to the new sense of style. Half back belt; four patch pockets with flaps. Fully lined. Brown and Camel colours. Sizes: 36-44. Practical Foot Fashion in Genuine Pigskin Suede for Men and Boys Shoes stay comfortable while keeping their fashionable good looks. Moccasin-style toe and cushiony Foam Rubber sole. Brown and Beige colours. W Pair ifiriCoit Blinds Casual Look with Great Stylo All the features add up to a noteworthy coat: 60% Polyester, 35% Cotton outsrshell; fully lined 100% Acetate lining; contrasting top stitching; patch pockets with (laps. Navy and Beige colours. Sizes: 36-44. w DEPARTMENT STDRFS i mm M. AND EVENTS SCHEDULE AVAILABLE AT WOOLCO. Colltot Snopplno 2025 Mayor Magratt! Drtvt Monday, Tumday t WadnMday a.m. to p.m. Yhurtday Friday a.m. lo p.m. Saturday a.m. 10 p.m. Wt RitiUVl THt RIOHT TO LIMIT QUANTITIES GUMMED iKrUUUllMMTMMll ;