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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - February 19, 1975, Lethbridge, Alberta 38 THE LETHBRIOGE HERALD Widnndty, February 19, 1975 Read The Herald for Games the in U.S. between president and Congress. National polls show public disenchantment has never been higher with politicians. A recent survey for the Republican national committee showed 40 per cent of adults consider themselves independents, compared with 42 per cent Democrats and 18 per cent Republicans. Political observers are wary of predicting wholesale flight from the two traditional parties by the voters at the next presidential election, which occurs in the country's bicentennial year. Nobody other than a Republican or Democrat has occupied the White House in more tharril25 years, when Millard Fillmore, a Whig, succeeded to it on the death of Zachary Taylor in 1850. Andrew Johnson, who succeeded the assassinated Abraham Lincoln in 1865, was a Democrat. History books list him as a National Unionist, but the National Union was a coalition of Republicans and Democrats. WASHINGTON (CP) -Partly as a backlash of disgust following the Watergate political espionage scandals, but more directly as a reaction to inaction in curbing a skidding economy and climbing unemployment, political disenchantment appears to be growing across the United States. The latest manifestation, at least on an organized level, is the call to arms by conservative gro Democratic leaders in Congress say the president's programs are inadequate and inequitable. But even right-wing elements within the president's own party are unhappy with his proposals, a disenchantment which has led to strident calls for the formation of a third party based on solid conservative principles. That this concern cuts across party lines is seen in a statement issued following a conference of conservative Republicans in Washington, which stated: "Conservatives have been forced into a political position which leaves us without a serious leadership role in either major party and the question of our allegiance to these parties is a matter of increasing to conservatives." In the meantime, there are growing indications especially in the high-unemployment areas of the the voters are becoming increasingly restive with the Dial -a -friend. 1-800-261-6362. Just call us toll-free from anywhere in Alberta. Or ask your travel agent to reserve a room. That way when you stay in Calgary, you'll stay with- friends. Downtown Calgary. r 9th Ave. 1st St., next to the Calgary Tower. l t, if they stopped short of formally deserting their it clear that they are not ruling out the possibility. Part of the problem revolves around the fact that the policies of President F'ord, a Republican, are almost automatically in for a rough ride when they reach the Democrat-dominated Senate and House of Representatives. Ford is criticizing the Congress for dragging its feet on his economic proposals while struggling ineffectively to draw up programs of its CP Hotels {H Sears Dress as though you shopped in the fashion capitals of the world. And never leave home.Sew your own collection, easily. With a Kenmore stretch-stitch sewing machine. 8 Reg. Portable 3 days only Make all the great new looks your looks. It's easy with your Kenmore. Eleven most-used stitches are built right in. Just twist a dial to select straight, zig-zag, blind hem, mending or box stitch. And there's more! Five stretch-stitches let you sew knits, crimps, even swimsuit fabrics! Even button- holes are easy, with the automatic snap-in buttonhoier. 25 yr. guarantee on head, 2 yr. on electrical parts. Head, control 206 2B1 430, portable case 206 291 002 In a Contemporary-style desk Walnut finish Formica top, hardwood const. 3 drawers. x 18" work area. Head, 206 281 430, desk 206 298 108 07988 Beg. I. thisisaSears best value Available from coast to coast in Canada through all Simpsons-Sears stores and selected catalogue sales offices, this very special offer is the sincerest effort can make to bring you merchandise that combines tine quality with the lowest possible price. Simpsons-Sears Ltd. Consumer interest rates won't come down until spring TORONTO (CP) Jim O'Grady, president of the Con- sumers' Association of Canada, says "it's puzzling why the lower interest rates take so long to filter through to consumers." Mr. O'Grady, in an inter- view, was referring to the fact that despite a recent trend to lower commercial rates on business loans the cost of borrowing money for the average consumer has hardly dropped at all. "The banks always have their reasons, (for the delay in dropping consumer rates) but I'm sceptical about them." Forrest Rogers, economic adviser with the Bank of Nova Scotia, says "customarily consumer rates are much stickier than prime or com- mercial rates. "Odds are you'll get some shading down in consumer rates in the next three to six months." He cautions, however, that such a drop will hinge on a number of important factors. These include how banking forecasters see the economy shaping up in the coming months, how much inflation can be curbed and. whether interest rates stabilize. Since mid-November, bank Enjoy H now! UM your Alt Purpose Account. At you the firm! guarantM. SMttactton or money rrtundtd. STORE HOURS: Open Daily a.m. to p.m. Thursday and Friday a.m. to p.m. Centre Village Mall. Telephone 326-9231 Allowances increased VICTORIA (CP) Educa- tion Minister Eileen Dailly has announced increases of up to 50 per cent in the cost the government will share with school districts for providing transportation assistance and room and board for students. Transportation assistance is available in areas where there are insufficient pupils to es- tablish either a school or a bus route to an existing school. The new transportation allowance in which the government will share is 25 cents a pupil daily plus 15 cents a vehicle mile to a max- imum a day. The previous maximum rate was a day. This is the second year in a row that the max- imum has been increased by at least 50 per cent. The maximum boarding allowance in which the government will share has been increased to 175 a pupil each month from No change HONG KONG (CP) Hong Kong's electronics industry maintained its position as the second-largest in 1974 after textiles despite the worldwide recession. Industrial sources said Hong Kong's electronics ex- ports chalked up a growth rate of 26.4 per cent by reaching a total of million, an increase of million over 1973. Transistor the mainstay of this industry, con- tinued to expand during the year to a total export value of million compared with million in 1973. prime rate charged by a bank to its most credit worthy customers have fallen from a record of per cent to 9Vz or 9% per cent. At the same time, the cost of short-term loans of 30 to 90 days has fallen swiftly from about 10'A per cent to around seven per cent. But small borrowers are still paying the same rates. Most banks still charged 13% per cent for consumer loans, up about per cent since early 1974. And the cost of automobile loans financed through dealers is 14 to 15 per cent, up about 2 per cent in the past year. Consumers using credit cards are paying more to carry balances from month to month. Major department stores recently raised charge- account rates to 1.75 per cent a month from 1.6, equal to an annual interest rate of 21 per cent. Imperial Oil has notified its customers that on March 15 its rate will go to 21 per cent from 18 per cent. Only mortgages rates seem to be budging. At banks and trust companies mortgage rates have dropped from a peak of 11'A and 12 per cent to around 10% per cent. Jack Lofquist, vice- president of consumer credit with the Canadian Imperial Bank of Commerce, said that consumer rates have not mov- ed to the same extent as com- mercial rates. While the prime rate moved upwards about 4Vi points in -just over a year, consumer rates only moved about 1 to points in the same period. "Consumer rates tend to stay around the same Mr. Lofquist said. The banks are still uncertain what direc- tion the rates will take and its usually about six months before a pattern is es- tablished, he says. At the same time, short- term rates are still fluc- tuating up and down and until they even out, lenders will not consider adjusting the con- sumer rates. .The prime rate is still ex- pected to drop some more, es- pecially since U.S. interest rates have been falling rapidly. Finance companies current- ly charge 23 to 24 per cent for consumer loans of more than up from about 21 per cent a year ago. A Household Finance spokesman said: "I doubt we're about to change our rates just because of a change in the bank market. A few months from now, it could go up again." (On loans under, fi- nance companies' rates are regulated by federal law on a sliding scale ranging from 24 per cent for loans under to 15.2 per fent for loans from to Ernie Castelane, vice-presi- dent at Traders Group which handles a lot of automobile fi- nancing, says: "The future is so uncertain we're afraid to do anything to our consumer rates." ;