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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - January 8, 1971, Lethbridge, Alberta Friday, January 8, 1971 - THI LETHBRIDOE HIRAID - at CANADIAN SATELLITE TO BE ORBITED - ISIS B, the last of a series of four scientific Canadian satellites, is to be launched in March from the United States rocket base at Vandenberg, Calif. The satellite, now in completion stages, is shown at the federal communications centre near Ottawa where it is being built. Capital outflow controls remain WASHINGTON (CP) - The United States announced Thursday it reluctantly will continue restrictions on the flow of U.S. capital abroad and also will continue to exempt Canada from the regulations in view of "good performance" under terms of a 1968 Ottawa-Wash ington agreement. However, the Nixon adminis New school deal urged EDMONTON (CP) - Stu dents should be enrolled in vocational educational programs on the basis of ability, not academic failure as they are now, says the Alberta Federation of Home and School Associations In a brief submitted to a roy al commission on educational planning, the federation said that as a result of sifting out bright students for academic programs, vocational edu-cation is considered second rate. Counselling services should be expanded, so that students can receive better guidance about the programs, the brief said. It also said planning in the province's vocational programs has not been sufficient and that repetition occurs and many courses cannot be applied to apprenticeship programs. The brief urges that a continuing program of research and evaluation' of vocational programs be launched. 25 persons die in sinking SEOUL (AP) - Twenty-five persons were drowned and about 10 others are missing today in the collision of a 24-ton ferry and a 60-ton fishing boat off Yosu, on Korea's southern coast. Rescued crew members said the ferry was carrying about 90 passengers when she sank after the collision. Two police boats rescued 55 persons. The fishing boat was damaged slightly. The ferry was en route to Yosu from Gaedo Island, 12 miles offshore, and went down about 300 yards out. It was the second sinking of a South Korean ferry in less than a month. The 362-ton Namyung-Ho sank off the south coast Dec. 15 in a disaster that took 325 lives and was blamed on -overloading. tration, which is committed to eventual elimination of the restrictions, announced slight technical modifications to ease the administrative burden The treasury and commerce departments and the Federal Reserve Board noted that while trade and the total picture of U.S. balance of payments "showed improvement In 1970, this welcome trend has not reached the point that permits substantial relaxation of the restraint on capital flows at this time." Assistant Treasury Secretary John R. Petty told a news con ference that Congress will be asked to extend the interest equalization tax, scheduled to expire March 31. This tax, instituted in 1963, applies to acquisition by U.S. citizens or residents of foreign stocks and bonds. At the time Canada was exempted from this regulation, the U.S. treasury noted that fori many years the capita] markets of the two countries had been interconnected and U.S. "exports of capital to Canada have financed a substantial portion of the current account deficit with the U.S." CAUSED CONCERN When the broader U.S. ,�,.-ance-of-payments programs were announced by then president Lyndon Johnson on New Year's Day of 1968, they caused deep concern in Canada. Bj March of that year, however, Washington agreed to exempt Canada from the mandatory controls on capital investment ___i bal- In return, the Canadian gov-. eminent agreed that instead of keeping most of its U.S. dollar [ exchange holdings invested in liquid U.S. treasury bills, it would shift them to non-marketable government bonds. Also, then Finance Minister j Mitchell Sharp promised the | government would take "any j steps necessary" to ensure that | the exemption from the U.S. program did not result in Canada being used as a "pass-through" by which the purposes of the U.S. program could be | frustrated. Asked whether, in considering the present situation, any con-. sideration was given to re-im-1 posing the restrictions on Canada, Petty replied, "No." Canada "has insltuted guidelines" so that a company may | not be used "as a pass-through to get through the U.S. guideline," he said. Both Canada and the U.S. recognized the "mutual benefits" of the arrangement; "the Canadians have been very co-operative." Fuel prices jacked up TORONTO (CP) - Imperial Oil announced Thursday that it was raising prices of its principal products in Ontario. In southern Ontario west of the Ottawa Valley, prices of gasoline and of heating and die-sel fuels are increased by one cent a gallon. In Northern Ontario gasoline and diesel fuel prices are up 8-10 cent a gallon, and heating fuel one cent a gallon. The company said the price changes reflected increased operating costs, including those for raw materials. Squaw Valley up for sale SACRAMENTO, Calif. (AP) - The 1,200-acre Squaw Valley resort area, built by the state of California for the 1960 Winter Olympics, has been put on the auction block by the state. The state has been losing as much as $300,000 a year on the recreation area 100 miles east of Sacramento while concessionaires who operate the ski resort under lease have been turning a handsome profit. The leases will have to be renegotiated if the area is sold. Assemblyman Eugene Chappie, whose district includes the resort, estimated the total investment in the area is around $25 million. Bids will be opened April 2. Lanadwn secret service plan rumors torpedoed It wm be, dian Secret Service." , the rumored nreanlMiMmi Ih*^-* .____.. ____..... ...... .....* . OTTAWA (CP) - It will be "several months" before a decision is made regarding any new form of protection for diplomats in Canada. Meantime government spokesmen are busy trying to torpedo reports of an impending "Cana- dian Secret Service Within the last week there have been a spate of stories that the Trudeau government will establish a secret service in the wake of the Front de Liberation du Quebec crisis in Quebec. Some reports compared the rumored organization with the American Federal Bureau of Investigation and the Central Intelligence Ageney. There was even official reaction to the reports. Stephen Lewis, leader of the New Democratic Party in Ontario, said the proposed secret service was "Just another characteristic of the erosion of civil liberties. Government officials claim the reports are widely off base. What is under study, they say, is a possible organization to be concerned only with protecting diplomatic personnel in Canada -"a glorified bodyguard service." They strenuously deny reports thet plans are afoot to form any new security service beyond this. A new security branch, within the framework of the RCMP, is still in the process of being strengthened as a result of a 1969 royal commission report which recommended the security service go into civilian hands. AGT, part of Tnnt-Cinadj Ttlephoni System THE INFORMATION It's a Canada-wide business problem, so our solutions are Canada-wide, too. An Information Snarl can start in Toronto, spread to Regina, explode in Vancouver and bog down anywhere in Alberta. And, it can get in your hair when you need important information from a branch or head office. Or stop you in your tracks when you order from an important supplier two thousand miles away. But at AGT, we have a solution to problems like these. No matter how spread out your business operations, we can arrange for a system of communicating information quickly, efficiently and economically. How? We're part of the largest telecommunications network with the longest microwave system in Canada. The Trans Canada Telephone System. That means we work closely with the other seven major Canadian telephone companies. And it means their experience and connecting communications facilities will be put to work for you. So if your business has an information snarl that extends from one province to another, from one end of the continent to the other, or across the world, we can help you. Simply call one of our Communications Consultants. All the time he's unsnarling your Information Snarls, he'll be paid by us, not you. So unless you buy him a coffee, he won't cost you a cent. Dial "0" (zero) and ask for Zenith 33000 - Toll free. ALBERTA GOVERNMENT TELEPHONES ;