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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 19, 1972, Lethbridge, Alberta 24 THE UTHHRIDC.E HERAID Iciliinlny, Fibtunry 19. 1972 THIS 15 WATTAGE? londoner Cnnrles Abrahams gets liis daily shave despile of the power blackout in London cl barber shop on Fleet Street with lighting provided by candles and a lantern. Rulers B. Mcr- isls r.rpic Ihat if the report, i ho ne[ plr.n rnnrc roivn'tcn In ir.chldc new materi- s issued. Conservation-' that do nol result in as much spillage. "We are not going to solve ev- erytliing by not building the e. We are hopeful of de- on liie Alaska it has there rie- r.l'n should be new public hcar- mands of oimraimeiitalists. inss. Ilr.irinps would further vciPping better methods." are s'j.'.l hancing in de'av Ihe project, already two i--------------------------------- there'-1 on efforts to produce the j years in the works. long-delayed environmental re-1 Morion, who said earlier he Hi HI bitterly disappointed by- court ndings hi similar cases, said: "I myself would prefer to see Private Canadian firms hit by new tax laws OTTAWA (CP) Canadian firms which, tlwtigli considered private, have lad or more share- holders may be treated as pub- lic corporations tmder the new Income Tax Act. finance de- parlinenl indieales. Tlie issued a sum- mary of regulations the govern- ment proposes to pass to en- force the new tax law which went into effect Jan. 1. The new law makes several distinctions between lax treat- ment of private corporations and so-called public corpora- tions. One is that small, privslc businesses get tax incentives to expand, bvt the same business, if designed as a public one, would not get the special treat- ment. Investment income and capi- tal gains of private corporations are to be taxed as normal in- come if they ?.re retained by tile firm, but if they are passed on to the firm's owners, half the tax will be refunded. In another case, the dividend mcome of a private investment firm from corporations which It does not control will be subject to an additional 33-per-cent in- come tax as long as the income is held by the firm. But if it is passed along to the firm's owner, and thereby becomes taxable in his income, the extra tax is refunded to the firm. This, an cfficial said, is to plug a loophole by which some big investors could do all their business through a private firm and avoid income taxes. The new regulations arc to make clear the definition of pri- vate and public corporations. Public corpoTRtiniis, gener- ally, are all those which have any capital slock listed for trad- ing on the Canadian, Montreal, Toronto, Winnipeg, Calgary or Vancouver Stock exchanges. Firms whose shares are not publicly baugnt and sold may be Once designated a public cor- poration, a firm keeps that status as long as its shares arc publicly traded or ils list of shareholders remains more than 50, or until insiders hold 90 per miL or more of its shares. It can Ihon designated a pn- of definitions vals firm. Eleven pages covering public corporations, mutual fund trusts, and credit unions' reserves were issued by designated as public corpora- Ihe department. A spokesman lions if Ibcy have 160 or more j said Ihey were being sent to lie shareholders with blocks of Lax lawyers, accountants and shares, other than so-called insi- and and UK aggregate market value of the shares is sf. least 5500. others with a pvolcssibnal inter- est in tax law for comments he- fore they are written into the regulations. Death penally unconstitutional SAN FRANCISCO (AP) The last execution in the oArt r wvr j i jiiu JM.II. The California Supreme Court United Stales was in Colorado in 1967. has ruled that Ihe death penally is unconstitutional, one of the court's seven jurists, said here. Justice Marshall F. McComb said in an interview that he was the lone dissenter in the latest opinion. McComb declined to elaborate on the ruling but said the court had ruled the death penally un- constitutional. The U.S. Supreme Court has excessive meowing had sought before it several cases on [he to force Mrs. Gales w get rid of death penalty but has not ruled I a significant number of cats. CAN KEEP 01) CATS MIAMI, Fla. (AP) Marie Gates and her feline friends re- joiced after the Dadc County commission ruled the elderly woman could keep her 90 of long as she lived. Neighbors who com- plained of noctural howling and KILLED IN SNOWSL1DE The bodies of two 11-year- old Toronto girls, Marlene Tcibe, left, and Jayne Mac- Gregor, right, were found Sunday buried beneath a snow- slide more than 24 hours offer they had been reported missing. The girls had last been seen when they left to go tobogganing. ROCKY MOUNTAIN FEDERAL CONSTITUENCY PROGRESSIVE-CONSERVATIVE NOMINATING MEETINGS Nominating meetingi wil the Constituency. Blairmore March 6 Turner Valley March 7 Banff March 8 Jasper March 9 Hinton March 10 ba held ol the following points In Grande Cache March 14 Swan Hills March 15 Whirecourt March 16 Edion March 17 Dray ton Valley March 18 Nominalionj of Candidates close February 23rd, 1972, and must ba submitled in writing 1o ihe Constituency President M. L. Dovies, Box 456, Turner Valley, Alberla. port en the controversial project by Tnixl-March, he said at a news confer en co.. He added that lie could not ;S KSH mm m m coiistruc'Jon permit for a month after the report is is- sued. Mr. Morion said thf1 first re- port had dealt a Canadian tone as on alternative to tap Alaska's North Slope oil. but the revised sta'cmcnt also would go into the question of alternative energy supplies from Canada. Asked if Hi is require further discussions with Can- ada, n? said he did not think so and noted thr.t there bad al- ready been considerable con- EUltation by tho oil companies concerned wilh the Canadian government arKi also on "a gov- ernment-! o- government basis." "I don't think any further dis- cussion is needed although that nay bo settled by a judpe." he one of these cases tried on the merits and go to the Supreme Ccuit so we have the real deter- mination of congressional in- tent." Morton had argued earlier thai it was not his function to consider Canadian or other al- ternatives since they did not fall ttith'n hi? jurisdiction. Asked about a U.S. Coast Guard report said to have esti- mated that ihn nil tanker route dov.n the British Columbia coast from Alaska could result in spil- layc of barrels a year in coastal waters. Morion said: "We have to rely on the roast guard and take "their word for it." ''What we have got to i said to 'he possibility !'he coast Ruard report bears this develop methods i that a conn miglit insist on more thorough report on Cana- dian alternatives. I CANADA WON'T SAY Some Canadiaas have urged i the interested companies Lo applv to Canada for permission to build a line down the Mac- kenzie Valley instead of Ihe trans-Alaska line, but Uie tawa government has not made a policy statement such a scheme. Dismissal e uplielcl on i 1 The Interior department Is under court injunction against issuing a permit until a satisfac- report on environmental QUALITY DRY CLEANING BY THE LOAD 8-lbi. (Normal Garments) PRE-SPOTTED AFTER-SPOTTED By Our Attendant PARKSiDE COIN-OP LAUNDRY DRY CLEAN 2654 Soulh Parksida Drivo Pliono 327-0011 HIGH PRAIRIE fCP) A j board of reference upheld the j prairie tchool board's dis- i misj'al of Ealdav Parniar a.s; principal of a school at Kimiso. Mr. Parmar's dismissal led to a protest by alxnU 100 stu- dents, who Iwycutted classes I last monlh. i The board of reference deci- sion was handed do-vvn by re- j tired Chief Justice Xcls Bu- j j He said Uie school board had acted reasonably in dismissing! Mr. Parmar for failure lo re-1 solve staff relation problems. The dismissal followed an in- vestigation by an education de. partment inspector. Mr. Dnchanan said a princi-! pal has to show leadership and I Air. Parmar did not. Evidence at o hearing had shoHTl lhal j of 14 leEChcrs at the school bad had difficulties with Mr. Par- mar and that the principal had abuied the privileges of his po- sition. Mr. Parmar now is a mem- ber of the leaching staff at the School and Dennis Slave Lake has been appointed principal. We at Sidorsky's, are proud of the fact, that through Volume Buying, we have brought quality merchandise at low prices to our many friends and patrons in Southern Alberta and British Columbia. We have one of the largest displays of furniture and appliances in Lethbridge and Southern Alberta. INCLUDING: Over 80 Chesterfield Suites priced from cut velvets. (for the economy minded) to in luxurious Quebec ready to agree on something OTTAWA (CP) Prime Min i-ster Tnidc.'iu said here ho believes Quclxic is ready lo cprce in principle In a plan lo the admini.sLralion of family allowances paid by the fodern] and provincial i lie told the Commons in nn- j swer to rjucslions that ncnotia- rions are continuing between Hie governments, and Ihat he hnr! discussed the proposal wilh Pre- mier It.iibcrl Ilournssa. Mr. Trmlcnii hclicvcrl Uie tva EfiveramenLs are "ready lo con- j sidcr a body of proposal to im-' prove the administration." Mr Tnidcau said Quebec has equal pon-crs wilh Ottawa to pay family allowances, and to increase the amount of pay- ments. Bedroom Suites in Modern, Spanish, and French Provincial. All priced just right for you. 0 60 different dinette suites priced from as low as Appliances by Gibson, Inglis, Enterprise and Speed Queen. Television and stereos by Fleetwood. In Addition We, at Sidorsky's Are BIG on SERVICE! We have the utmost confidence in the growth of Lethbridge and Southern Alberta. And with our customers in mind, we will continue to furnish you with quality merchandise at LOW, LOW PRICES. So neighbors, come on in and LET'S MAKE A DEAL! STORE HOURS: Open 9 to 4 Tuesday, Wednesday and Snlu rday. Open 9 a.m. lo 9 p.m. Thursday and Friday. 542 13th St. N.-Phone 328-1151 CONVENIENT BUDGET TERMS iv.skvs SF.I.I, HMI i Til FA 110 C ;