06 Jan 1983
Page 1
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Newspaper
Lethbridge Herald
Location
Lethbridge, Alberta, Canada
Date
Jan 06, 1983
Page
1
Money markets forced the Bank of Canada to cut its policy rate to 9.74 percent from 10.05 percent, the lowest since 1978, aided by falling inflation and expectations of further US rate cuts.
The latest building permit data show Lethbridge values down 26 percent from the 1981 total. The report notes inflation concerns influence construction activity, while other city sections list classifieds and notices including deaths and lifestyle items.
In a town scene a low-slung sports car owned by Deri Dealing sustained two large scratches after veering from the highway, slipping through barbed wire, and ending near Leth Community Hall. The incident followed a Christmas season meeting with coffee and a New Year breakfast for 22 attendees.
Ottawa seeks to end or trim the spousal exemption for married men whose wives do not work while considering a larger child care deduction. The plan would shift revenue from cutting a $1,000 per child spousal break to expanding a deduction mainly benefiting working women who pay for day care or babysitters. Ottawa currently loses about $1.4 billion in revenues.
Moscow says Cosmos 1402 is functioning normally and safe, despite U.S. claims it may crash soon and spread radiation. Pentagon remains concerned, noting the five-tonne satellite powered by a nuclear reactor could pose health risks if debris lands on land, though water areas lessen danger. The piece also references a 1978 Canadian incident and discussions on nuclear-powered satellites.
An armed man held a woman hostage at a St Hubert home after a failed robbery. Two other hostages were freed early as police negotiated. The suspect, known to authorities and wanted in Alberta on theft and drug charges, demanded a car and money to reach Alberta. Police and SWAT sealed the area while talks continued.
Alberta officials consider re evaluating the pilot work for welfare scheme in Lethbridge as city council resists involvement. Social Services Minister Neil Webber says project may move if no sponsor is found and notes support from students and seniors in nearby communities. Medicine Hat will not join the test communities.
Police say a dog was swept from the seafront by a wave and its young owner leaped in to save it. A first rescuer police officer, then several officers and a passer-by entered the water in a bid to reach them. one person was taken to hospital in critical condition.
B C Coal announced Tuesday plans to lay off about 400 hourly workers and an unspecified number of staff indefinitely on February 5 as the mine halts operations for at least six weeks due to reduced coal demand. The move comes as analysts warn of continued weak steel-related demand through early 1963.
Russell Grafton, 77, and his wife Raby left Carman on Christmas Day and roamed across Illinois in a Ford Bronco, covering about 4000 miles. State police searched from Alton to Casey as relatives worried they might be lost, while the couple appeared confused but willing to wait for relatives.
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