Lethbridge Herald, The (Newspaper) - February 17, 1975, Lethbridge, Alberta
Monday, February 17, 1975 THE LETHBBIDGE HERALD 3 UNITED MOTORS Shoe on the other foot CO. LTD. Weather Ptecipitotion H High L low Cold Front Worm From WARMING TREND CONTINUING Synopsis The Arctic front extends from Fort Nelson to Fort McMurray this morning with temperatures generally below zero in areas north of this line. By tomorrow morning the front will have moved north of the Wood Buffalo area leaving all regions in a milder Pacific airmass. A fast moving upper level disturbance will move eastward across the district over the next 24 hours bringing cloudy skies to most areas. Snowflurries will be confined to the mountains and the northeastern corner of Alberta.. Increasing westerly winds are expected as the disturbance moves eastward and Chinook winds will be strong near the southern mountains tomorrow. Forecast Lethbridge, Medicine Hat, Calgary Sunny today. Strengthening westerly winds. Highs 30 to 35. Mostly sunny. Chinook winds strong near the mountains. Lows near 20. Highs near 40. Edmonton Today: Becoming cloudy by afternoon. Highs 30 to 35. Tuesday: Mostly sunny. Winds west 20. Lows near 15. Highs near 35. Banff Cloudy today. Snowflurries in the late afternoon. Highs 30 to 35. Tuesday: Sunny. Lows near 20. Highs 25 to 40. Columbia, Kootcnay Becoming'cloudy today with occasional snow in the afternoon and evening. Mainly cloudy Tuesday with a few periods of snow. Highs today near 30. Lows tonight 20 to 25. Highs Tuesday in the mid 30s. MONTANA East of Continental Divide Scattered snow south. Partly cloudy and warmer north today.and most sections tonight. Sunny and warmer Tuesday with gusty southwest winds along east slopes. Highs today 25 to 35. Lows tonight zero to 15 above. Except 15 to 25 along east slopes. Highs Tuesday 30s. Except lower 40s along east West of Continental Divide Partly cloudy with widely scattered snow showers ending early today. Increasing cloudiness tonight. Cloudy Tuesday with scattered snow showers. Highs both days 30s. Lows tonight 10 to 20. Cross-Canada Weather Canadian weather picture for today: Brilisb Columbia Cloudy. Rain along the coast. Alberta Increasing cloudiness. Saskatchewan Sunny. Manitoba Mostly cloudy. Snow extreme north. Ontario Cloudy snow in centra] areas. Rain in the south. Quebec Sunny with a few cloudy periods. Maritime Provinces Sunny. Newfoundland Sunny in the west. Cloudy periods and a few flurries in the east. Temperatures Sun sets tonight at rises at on Tuesday Lethbridge......... Medicine Hat...... Piocher Creek High Low F C F C 27 -3 7 -14 15 -9 32 0 0-18 7 -14 High Level........... 10 Grande Prairie....... 29 Peace River......... 25 Edson 33 Rocky Mtn House..... 30 Vermilion............ 28 Edmonton 26 Jasper............... 31 Banff................ 30 Coronation........... 26 Calgary..1............ 29 Victoria............. 44 Prince Rupert 36 Prince George....... 28 Penticton............ 33 Kamloops............ 34 Vancouver........... 41 Prince Albert........ 22 North Battleford...... 19 Saskatoon............ 15 Swift Current 1 Yorkton 13 Moose Jaw 17 Thompson 18 North Bay........... 27 -19-28 4-16 8 -13 -7-22 -19 -5 -21 -2 -19 7-14 5 -21 1 -17 3-16 31 -1 34 1 16 -9 12 -11 3-16 33 1 2-17 2-17 4 -16 -7 -22 0-18 0-18 14-10 Regina 12 Estevan 26 Brandon.............. 9 Winnipeg 14 Kenora.............. 15 Thunder Bay......... 28 The Pas............. 16 Dauphin 14 -WhiteRiver.......... 24 Toronto............... 31 Ottawa.............. 34 Montreal 32 Quebec.............. 29 St. John's............ 27 35 Charlottetown........ 28 Fredericton.......... 33 Chicago 34 Minneapolis.......... 31 New York........... 45 Boston 48 Washington 52 Los Angeles.......... 58 San Diego............ 60 San Francisco........ 55 Denver.............. 31 Las Vegas........... 60 Phoenix 64 Honolulu............. 83 Mexico City.......... 73 -11 -7 -22 -3 2 -17 -13 -7 -22 -10 9 -13 -9 8 -13 -2 18 -8 -9 8 -13 -10 0 -18 4 -1 11 -12 1 14 -10 0 !4 -10 -2 1 -17 -3 21 -6 2 20 -7 -2 15 -9 1 12 -11 1 31 -1 -1 28 -2 9 30 -1 11 38 14 46 8 16 48 9 13 49 9 -1 21 -6 16 42 6 18 45 7 28 71 22 23 43 6 Up to Factory Cash Rebate United Motors Co. Ltd. 3rd Avt. 3rd St. S. Phom (Serving Southern Alberta Over 'A Century) AMA ROAD REPORT u of 8 Feb. 17. Hljhwiy 3: Fort Micltod to Britiih Columbia Boondory Generally bare. Icy sections. Has been sanded. All other highways in Southern Alberta are reported to be mostly bare with occasional slippery sections. TORTS OF ENTRY Optiiig ud doling llmei: Cirwiy 9 a.m. to 6 p.m. Chief Mountain, Closed; Coutts open 24 hours; Del Bonlta a.m. to p.m. Klnjsptt open 24 hours; Porthill RykerU7 a.m. to 2 RooMVille 7 a.m. to II p.m. (Times: Monteta Now its Americans who fear foreigners By JACK FRIEDMAN New York Times Service NEW YORK Foreign take overs in key industries have become an increasingly sensitive issue in the United States. The Iranian govern- ment has negotiated a com- plex stock and loan agreement with Pan American World Airways that is receiving presidential attention. Possi- ble stock deals involving the Lockheed and Grumman Cor- porations were discouraged by the department of defense. A Saudi Arabian businessman purchased control of a bank in Michigan, while a fellow countryman was frustrated in an attempt to do so in Califor- nia. some controversy, several American mayors, from New York City to a conference of black mayors in the South, are sending representatives abroad in an attempt to attract foreign investment to their com- munities. Sensitivity to foreign invest- ment has existed for several years, but has been heighten- ed recently by the growing wealth of oil exporting nations. A surge of sentiment against Japanese investment has collapsed primarily because of that nation's weakened economic position. Many Americans are concern- ed that companies dominated by foreigners may be used against United States interests for economic or political reasons. America's experience is that foreign investors have acted responsibly, and most U.S. business and government leaders expect this to continue in most cases. However, with existing international economic and political dif- ficulties, as the number and size of take overs increase, the possibility of damage increases as well, whether intentionally or uninten- tionally. The potential degree and type of damage is a matter of speculation, with estimates ranging from almost nothing to the most dire of conse- quences. Foreign take overs of American companies, as dis- tinguished from portfolio investment, averaged about (500 million a year during the 1967 72 periods, 'then rose to billion in 1973 and to more than billion in 1974. Total foreign investment in foreign controlled companies in the United States is' about billion. Foreign take overs will probably climb sharply in future years because wealth is growing abroad and many foreign investors see United States stocks as being priced quite low. Current federal laws direct- ly restrict foreign ownership in very few industries vir- tually Only shipping, commer- cial aviation, broadcasting, hydroelectric power and nuclear energy. Most industrial, financial, and government leaders are against extreme restrictions because they fear that needed foreign capital would be driven away and that there would be imitation or retalia- tion against America's own billion of. investment abroad. However, many of them believe that limited legislation is needed because investors have a. right to know in what sectors they are welcome. They should not be vulnerable to hostile which the current unrestricted investment situa- tion invites. The idea is that it is better to begin to define limited government policies and regulations reassuring to the American people and foreign investors alike than to wait until events create a mood of outrage or panic. Defense production is probably the most sensitive sector at this time. Authorities in the industry and the defense department differ on whether foreign control could or would be used adversely during an emergen- cy, given the possibility of sanctions even including nationalization by the United States. But foreign invest- ment might cause some ero- sion of defense production capability during peacetime years. The most prominent producers are the large prime contractors, less than 10 in number, such as Lockheed, Grumman and General Dynamics which are predominately defense oriented. There are about 20 additional prime contractors and their key suppliers sell less than two per cent of their output directly or indirectly for weapon system production as is the case for General Motors and Chrysler, suppliers of tanks and military trucks. But many suppliers are essential non- etheless. Many of the items that they manufacture can be produced only by very few companies, require specializ- ed tooling and know how, and are highly classified. Suppliers such as these are replaceable, but only at great cost and over a period of time. Foreign investors are en- tirely free under American law to acquire total control of any defense producer, whether Lockheed, General Electric, or General Motors. The major legal power that the United States govern- ment has available to dis- courage take overs is the right to refuse a security clearance to producers under foreign ownership or control. Classified contracts are not given without such a clearance. Outside the national securi- ty sector an industry may be sensitive because of what might be called "economic security" the central role it plays in the nations economy. Many Americans believe that commodities, steel, oii, computers, real estate, and a host of other industries are keys to economic security. (Mr. Friedman is a management consultant on international investment and trade in the U.S.) BUY LOCKHEED JETS BEIRUT Ara- bian Airlines has purchased two Lockheed L-1011 Tristar jetliners and plans to increase the number of L-lOlls in ser- vice to six in a Lockheed official said here today. Financial details weren't dis- closed. You Block people sure ask a lot of questions. We take all the time we need to understand your complete tax situation to make sure your taxes are as low as they can legitimately be. THE INCOME TAX PEOPLE 815-3rd AVE. S. 610-13th ST. N. Open 9 a.m. 9 p.m. Weekdays 9-6 Saturday CENTRE VILLAGE MALL KIOSK I Open 9-5 Weekdays, Thurs. Fri. till 9 p.m. Phone 329-3632 OPEN TONIGHT NO APPOINTMENT NECESSARY Now you don't have to be rich to have a tax dodge. This tax dodge is for the average working person, and it's perfectly egal. Because the Government wants you to save for retirement, they are prepared to give you a ega! tax dodge. The amount of tax money you can save is very worthwhile. For example, if you're married with two depen- dent children, and earned last year, your, tax saving could amount to over Here's what the government says you can do. Within specified limits you can deposit part of your earned income each year, in a Canada Trust Retirement'Savings Plan and deduct an equal amount from your taxable income. Less axable income less tax for the Tax Man. It's hat simple. (And if both husband and wife jvork, both can set up a iven if you're already in a pension plan at .work, you can still take advantage of this tax saving. Because of rising inflation, a company pension may not be enough to guarantee you a comfortable retirement on its own. Here's an opportunity for you to have more money when you retire, and save on your income tax while you're at it If you're short of cash you can still get in. We can loan you the money to start a Plan. In most cases, righ on the spot, and with no red tape We call it our "Instant Retiremen Savings And get this tax dodge! The interest on the loan L also tax deductible. Your money isn't locked in forever. With a Canada Trust Retiremen Savings Plan there is no obliga tion to make future deposits anc no sales commission to pay Should you decide to forget the whole thing, you can get your money out. (But if you do. you'll have to pay the appropriate income tax.) March 1st is the deadline. If you decide you want to save on your 1974 taxes, better do it by March 1st. That's the deadline the Government has set. Nobody, not even the rich, can use this tax dodge after that. And here's the Grabber. Win one of four Ford Maverick Crabbers. For an opportunity to win. all you have to do s deposit or more in a Canada Trust letirement Savings Plan by the March 1st deadline. The first four names drawn will each win a brand new Ford Maverick Grabber! 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