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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 26, 1974, Lethbridge, Alberta M, 1174 TNI UmtBIMOQI HUUL0-Z7 Retirement plans offer tax savings TORONTO (CP) Cana- dians still can save on 1973 taxes by putting money into a Registered Retirement Sav- ings Plan (RRSP) before March. The RRSP permits income- earning Canadians to invest in an approved plan on a fully tax-deductible basis. Wood Gundy Ltd. of Toronto explains that for income tax purposes deposits made to an RRSP during or within two months of the end of a tax- ation year are deductible for that year up to certain limits. A self-employed person or one not a member of any pen- sion plan can invest 20 per cent of earned income up to A member of a non-contrib- utory pension plan can de- posit up to 20 per cent of earn- ed income up to And, for members of a con- tributory pension plan, the combined contributios to that plan plus an RRSP must not exceed the lesser of 20 per cent of earned income or Bongard Leslie says that on a taxable income base of 000, each pre-tax dollar invested in a registered plan is equivalent to more than 11.82 set aside in an unsheltered manner; at the taxable 'Gallon of sea good for fuel' MONTREAL (CP) -'inere are enough fuel elements in a gallon of sea water to produce kilowatt hours of electricity, enough to supply an average North American family for a year, says Dr. Claude Richard. Dr. Richard told delegates at a Canadian Science Writers' Association seminar that such potential could be realized if a powerful laser gun could be developed. Such a laser gun could be used in a fusion reactor, he said, to produce energy by compressing droplets of water times and then heating them to more than a million degrees in less than one- millionth of a second. The energy released from this process could be harness- ed and used to generate electricity Dr. Richard, a researcher at the Hydro-Quebec Research Institute, said such a fusion process is safer than nuclear plants which pose a risk to the environment and require stringent security. It was superior to traditional energy sources such as petroleum because there was an abundant supply of sea water and such a process could be located in the centre of urban areas, eliminating long-distance transmission lines. No major research into fu- sion is being conducted in Canada, he said, but a major world effort could lead to development of the needed laser gun in three or four years which would allow com- mercial production of such forms of energy in about 25 years. FOR SALE Holiday Motel Units) Well constructed and newly decorated. Easily removed from site and suitable for: (1) a motel on another site (2) Summer Cottages (3) Farm Labor Accommodation (4) Hutterite Colony (ham at 102S Mayor Magrath Drlva and aand your offar to Box 35, LathbrMga HaraW btlora Fab. 1, 1974. Untta to ba movad by tha and of Fabruary, 1974.___________ Registered Retirement Savings Plan 'B' Now at HIGH INTEREST TAX SAVINGS No Administration Charges PLAN "A" SELF ADMINISTERED NOMINAL FEES FARMERS MERCHANTS TRUST 309 7lh St. S., Lethbrldge Phone 328-5548 Please send me information on Plan 'A' Plan 'B1 D NAME ADDRESS CITY MEMBER CANADA DEPOSIT INSURANCE CORPORA ION level, the equivalent value is near 92.05. Further tax savings accrue while the plan is in operation because earned income and capital gains are not taxed un- til the plan matures or is ter- minated. Given certain assumptions, this means that a dollar in- vested in a RRSP will double in less than 10 years, increase to in 20 years and climb to in 30 years, Bongard Leslie says. Wood Gundy says: "A pos- sible additional benefit stems from the fact that RRSP money is likely to be accumu- lated during the high-tax earn- ing years and realized during the low-tax retirement years." There are many types of registered plans, ranging from conservative to aggres- sive. Wood Gundy says the char- acteristics of the plan should be decided on an individual basis, taking into account flex- ibility, availability of funds, circumstances in the event of death of the planholder and proper frequency and amounts of contributions. 'Canada pressed for meat' REGINA (CP) Canada is going to be hard pressed to provide enough meat for its growing population, the an- nual meeting of the Saskatchewan Livestock Association was told this week. Dr. J. M. Bell of the Univer- sity of Saskatchewan's animal science department said 30 to 40 additional hog operations and up to more head of cattle will be needed a year to provide an adequate meat supply. He expressed concern that such targets might not be achieved if livestock producers are not assured of adequate returns in future years. He also said that while prices of red meat will remain high for some time, Saskatchewan may ex- perience a slight decline in meat prices. I. 1 By BOB DUVAL KEY REALTY INSURANCE REALTOR Industry hurts Kootenay game British hovercraft heads for Europe Hovercraft skippers enjoy flying over sea LONDON a hovercraft a ship or an air- craft? Britain's legslation dealing with hovercraft has come down on the side of aircraft and other countries are falling into agreement. But are the men who com- mand them ship's masters or aircraft captains? David Wise, chief captain of Hoverlloyd, which runs a sev- ie of big passenger-carrying hovercraft plying between southern England and mainland Europe explains: "We are basically mariners. We served our apprenticeship at sea and have been second mates, mates or masters of deep-sea ships. "But a few of us have also had aircraft experience, either as private pilots or with airlines. This is just as well because these hovercraft are very 'airplane' in style. They A merican wheat supply drops Fruit sale plentiful in 1973 PENTICTON, B.C. (CP) Rapid growth in the past five years has pushed Sun-Rype Products Ltd. sales to a 1973 high of million, Ian Greenwood, the firm's general manager, said this week. He told 500 delegates at the annual meeting of the British Columbia Fruit Growers' Association that sales this year could reach million. He said larger crops of tree fruits are contributing to the increases, although sales were helped by the processing of citrus fruits, the production of juice and concentrates for wineries and the fuller utiliza- tion of cull fruits I don't quite understand it, but most people are under the impression that the only time to move is during the summer Why not consider moving during the off-season? For one thing, complaints and damage, claims against movers increase drastically in the summer when they're swamped with jobs and work harder and longer. It's understandable. Also, studies show that a winter move is not as much of a disruption to children as it's generally assumed School officials have more time to give to new students who arrive during the school year The child can make more friends and faster. And he doesn't have the whole summer to dread the day he goes to a new school Many excellent home-buying opportunities are passed up during winter months because of this summer-only moving syndrome It may be to your advantage to think about this. If there is anything we can do to help you in the field of real estate, please phone or drop in at KEY REALTY INSURANCE, 1524 9th Avenue South, Lethbridge. .Phone 328-6671. We're here to help! ___________ Mobil has dividend increase NEW YORK (AP) Mobil Oil Co. announced Friday an increase in its dividends to stockholders, becoming the thud major United States oil company to do so this week Mobil, which reported a 47- per-cent gain in its 1973 profits Thursday, increased its quar- terly divident to 75 cents from 70 a share of common stock. Britain, Iran plan to trade ST. MORITZ, Switzerland (AP) Britain has agreed to ship million worth of goods to Iran in exchange for an additional 35 million barrels of Iran's crude oil. The agreement, for 1974 and early 1975, was announced Friday by British Trade Minister Peter Walker after talks with senior Iranian of- ficials. By SETH S. KING New York Times Service CHICAGO Supplies of wheat now held in American elevators will be drawn down to dangerously low levels before the harvest of the 1974 crop begins in mid-May. But middle Western grain dealers insisted this week that there was no reason to expect a serious shortage of flour or bread between now and early summer, though the price of both may rise again by then. In this time of shortage- psychology, when such items as toilet tissue are being hoarded, market analysts are not advising consumers to go fill their freezers with 45- cents-a-loaf bread. "We have as much wheat for sale now as any time in the past 10 said Jim Jordon, Kansas City board of trade representative for Union Equity Co-operative Elevators, one of the largest handlers of winter wheat in the nation "There is a possibility of using almost all the winter wheat we have before June, leaving us with little reserve. But I think it will be impossible to run clear out. The price for it is high now, and if it goes up any more, it will ration itself. The flour millers can still buy as much as they are willing to pay the price he said in a telephone interview last week. Consumers were startled recently by warnings from the American Bakers Association that wheat was disappearing and bread might go to a loaf before summer. The association demanded export controls, which would halt shipments of wheat abroad and bring down the domestic price. "We're not going to run out of said Joe Gregg of Morriston, Gregg Mitchell, a Kansas City-based company that operates grain elevators in p-Tts of Kansas, Nebraska and Missouri. "Many of our elevators near Kansas City have pretty much sold out their Gregg said "But in the big farm country in northwest Kansas, they have about the same amount as last year. Many farmers in those areas are still holding their 1973 wheat to sell it this year and pay 1974 taxes on it. That wheat will be available for sale when they think the price is right. "Now if the supply should drop down much below 200 million bushels by early May, it will mean the wheat is scattered in a lot of smaller elevators and it may be harder for a miller to he went on. "But we certainly won't have run out." Frost hits Soviet crop MOSCOW (Reuter) Some of the Soviet Union's main grain-growing areas have been hit by severe frosts which penetrated deep into the subsoil earlier this month, the agricultural daily newspaper Rural Life reports. It says light snow cover, plus below-average temperatures in mid-Janury, had caused soil to freeze to a depth of 28 to 35 inches in the northern Ukraine, the central Black Earth region and the lower Volga basin But it says heavier snowfalls last week increased the snow cover and conditions for grain and fodder crops in the southern half of the European part of the Soviet Union greatly improved. were built by the company that used to build the Saunders Roe flying boats." The craft they pilot cruise at 50 knots some eight feet off the sur- face. They carry up to 37 ve- hicles and 286 passengers as well as the pilot, flight engi- neer, navigator and six stewardesses. Wise is widely experienced on sea and in the air. A mariner's son from Southampton, he travelled around the world as a ships navigator, then joined British Aircraft Corp. at the age of 26 and became a flight test engineer. When Hoverlloyd was form- ed in 1966 he joined with the intention of becoming one of the first men in the world to pilot the big four-engine hovercraft then being planned. "There was the novelty value, the feeling of new industry. In my job in the aircraft industry it was just one of many. Here I was more of an individual, learning a new piloting technique from scratch. WANT MONEY RETURNED WASHINGTON (Reuter) Congress members Bella Abzug (Dem. and Louis Stokes (Dem. Ohio) have filed a court suit against President Nixon asking him to return government money they claim was used illegally to im- prove his private homes in San Clemente, Calif., and Key Biscayne, Fla. IN EDMONTOI Stay At the RIVIERA VANCOUVER (CP) The Sun says the fish and wildlife population of British Colum- bia Kootenay districts has declined drastically in the last 20 years because of industrial growth. The evening newspaper says a secret report commissioned by the provincial government spells out in detail damage done to natural resources by logging, mining, ranching, hydro-electric dams, reser- voirs and pulp mill effluent. The newspaper says the report was prepared by Pearse Bowden Economic Consultants Ltd. of Van- couver. A principal of this firm, University of B.C. economics professor Peter H. Pearse, was named last week to head a provincial govern- ment task force inquiring into B.C. forest policy. The report is one of eight or nine studies on all aspects of life in the interior Kootenay region commissioned by the department of industrial development, trade and com- merce. The Sun says the reports are all secret because they will form the basis for a major investment program in the East and West Kootenay districts, using both private and public capital now being considered by the provincial and federal governments. The federal department of regional economic expansion will be involved under a new agreement currently being negotiated between the governments, the newspaper says. The Pearse report is reported to say that although there are many opportunities for improved recreation facilities in the area, large sums of money will be needed to repair some of the damage done to natural resources by the growth of industry. RESOURCES DECREASE "As with the fish resources, the most notable thing about wildlife of the Kootenays is the extent to which a resource, which was at one time unsurpassed in North America, has declined in productive the H. H. Smith Ltd. Customs Broker PMM 321-1141 M4424S4SI COUTTS Home Office Phone 344-3822 THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLOR TV For Your Convenience in Making Reservations CALL AND ASK FOR LONG DISTANCE ZEnith 0-7255 no cost to you IVIERA MOTOR HOTEL 5359 Calgary Trail Edmonton, Alberta Phone: (403) 434-3431 Telex; 037-2510 report is quoted as saying. "The most crippling blow to wildlife has come from the series of dams and reservoirs which have inundated impor- tant low elevation winter ranges. Habitat has also been severely impaired by logging and mining activities." The Sun quotes the report as saying that in the East Kootenay, where there is still an unusual diversity of animals compared with the rest of North America, resident hunters shot big game animals in 1964. But in 1971 the number of hunters was down 35 per cent and their kill was down 39 per cent. "The thrust of new logging and mining operations into high-potential game territories makes hope for a natural resurgence dim. For Complete Livestock Sales and Servloe. call FRENCH ifiuniniy p.m. Top OiMlity PhM WEDNESDAY! a.m. FAT I and FEEDER CATTLE REGULAR SALE FRIDAY FAT and FEEDER CATTLE SALES Friday -1p.m. Slock Ctff SLAUGHTER HOGS ASSEMBLED AND SOLD MONDAY THRU FRIDAY. WE BUY AND SELL FAT AND FEEDER LAMBS DAILY. WE CA3RV HARTFORD INSURANCE ON LIVESTOCK. I. EO FRENCH 3Z8-M88 DAN KLASSEN 345-4358 KEN MLIER, RUfflA 7N-8607 LHIBfJAttR 34S-44HI MNTNEMINtl 3H-7JS4 CJ.M' CONSIGN ALL YOUR LIVES fOCK TO: C. E. FRENCH LIVESTOCK In thp Heart of Canada s Ranching Country Ph: Often U7-MM SCHWARTZ AGENCIES (1972) LTD. Birdie Schmltt Quarter, 1973 In 1973 Birdie bid and made a grand slam in no trump' Six times she was sales rep of the month and three times she was sales rep of the quarter Charles Goren would like to be as successful in bridge tour- naments' Birdies results show we keep our professional responsibility) to all parties in a real estate trans- action To avoid a misdeal call Birdie or one of our team at the 'Action Agency Phone 328-3331 ANNOUNCEMENT Nu-Mode Homes Ltd. and Nu-Mode Realty are pleased to Congratulate Jerry Nagel and Bob Sapsford for their achievements m real estate sales and listings in 1973, their totals are as follows Jerry Nagel Bob Sapsford Jerry and Bob invite any of their friends and customers to give them a call on any real estate need Nu-Moi Realty 1277- 3rd Ave. S. 328-8011 P.O. BOX 1-7-7, LITHMIDOt, AlMftTA OUTSTANDING BUSINESS OPPORTUNITY For Dnler Rapid expansion of a new market provides an out- standing opportunity to cash in on a growing business in an exciting and highly profitable industry International company now manufacturing and successfully marketing proven anti-shooliftmg devices for lease to en unlimited and wattmq market Negoti- .tion" with natonai c'l0, stoker. TT- ti t n'c appoint a aeale to and Southern Aibetta immediately. Parent company will supply all basic electronic com- ponents of multi-purpose crime prevention systems at no cost to dealer as well as providing the financing and training necessary. Appointee requirements include a secured investment, the ability to start immediately on a full time basis, and a management back- ground. Write for confidential information, giving full name. address, busmers and home phone Mr. B. A. 754 Powell Street Vancouver, B.C. 253-4101 JIMVUco ;