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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 2, 1970, Lethbridge, Alberta 22 THE LETHBRIDGE HERALD Thursday, July J, WO Dollar Decision Tied To Canada Pavilion Among Top Five TORONTO (CP) Events in the United States triggered the Canadian decision to free its dollar from an international peg and it will take good news about Mental Hospital Fire Kills 17 SANO, Japan (AP) A fire roared through a mental hospi- tal here Monday night, killing 17 of the 183 patients, and police said six other patients confessed they conspired to start the blaze. The police said the plotters hoped to escape the hospital during the fire, they said one of the group sot fire to a bundle of magazines in a linen storeroom. The 17 male victims were found near the only door to one of the wards. It was locked from the outside. the U.S. economy to motivate Canadian officials to re-peg the dollar. That is the opinion of the Bank of Nava Scotia's latest Monthly Review, a bank analy- sis on current trends. The Canadian decision, the re- view says, was a surprise to many people. "Yet for over six months now this country has been turning in a remarkably strong trade per- formance, while at the same tune the firmness of its official anti-inflationary policies has stood out in contrast not only to the United States but to most major overseas countries. "As events turned out, how- ever, it was the unsettlement of U.S. financial markets set off by the sudden movement of U. S. troops into Cambodia that finally pushed the foreign ex- change situation beyond the bounds that the authorities felt could be any longer sensibly re- sisted." PEGGED TO U. S. DOLLAR The Canadian dollar, under terms of Canada's voluntary participation in the Interna- tional Monetary Fund, had been pegged' in value in terms of the U. S. dollar. Since 1962 and until the end of May it had been set at 92.5 cents U. S., with fluctua- tions allowed within a one-per- cent range on each side of the pegged value. Since the government an- nouncement on May 31 to free the dollar it has traded consist- ently at about three cents above the pegged rate, selling for a few days at more than 97 cents U. S. The close Monday on for- eign exchange markets in Mont- real and Toronto was 96.65 cents U.S. The review says.the Canadian economy during the last three years, "slightly bettered that of the United States and, more re- cently, has become appreciably better than that of the U.S., and of most other industrial coun- tries." Export volume had increased at a greater rate than import volume. Another factor, the re- view says, was a change in in- vestment patterns: For several wars prior to 1969 there had been a net outflow of funds but during 1969 and 1970 the dollar >alance in equity investment pegan to swing in Canada's 'avor. "In essence, the floating of the Canadian dollar reflects the special Canadian problems of irying to cope with the excep- tional payments pressure which conditions of U. S. financial inst- ability caii create in a structure of very widespread cross-border relationshfos." Buy one of these now... and get this one FREE! Declare your independence from weekend lawn chores. Get tha great new John Deere 19-inch trimming mower value) FREE with your purchase of any new John Deere Lawn and Garden Tractor. You'll have a "Weekend Freedom Machine" for your big jobs, and our big helper for your little jobs. See us before offer ends July 12.1970. MaCHine K D IMPLEMENTS LTD. CARDSTON, Alb.rta HEPP'S INDUSTRIES LTD. 2 milfit east of Stockyards LETHBRIDGE, Alberta McKAY BROS. FARM IMPLEMENTS LTD. 3214 9th Avenue North LETHBRIDGE, Alberta CALHOUN SALES SERVICE LTD. FOREMOST, Alberta IT PAYS TO ADVERTISE in The Lethbridge Herald GREEN POWER LTD. Ph. 223-2139 TABER, Alta. Ph. M3-38I1-BURDETT, Alta. RANCHERS' SUPPLY LTD. PINCHER CREEK, Alberta ANDERSON SUPPLIES LTD. Ph. 647-3845-WARNER, Alta. WASHINGTON (CP) Can- ida informed the Organization )f American States here it las no intention of joining [lie rganization at this time but vould like to forge a formal link at a "suitable hrough a permanent observer. Reiterating Canada's position as spelled out in the recent vhite paper on foreign policy, Wheat Sales Approaching Govt. Goal MURRAY BAY, Que. (CP) With one month remaining in the 1969-70 crop year, exports of Canadian wheat are approach- ing the government's target of bushels, Otto Lang, minister in charge of the Cana- dian wheat board, said here. He told a conference of the Canadian Feed Manufacturers Association that exports of bar- ey are approaching lushels and may top the all- time record next year. Mr. Lang said relative price stability lias returned to the world wheat market, although jrices are still below those es- ablished as nrinimums under ;he International Grains Agree- ment in 1967. 'The immediate prospects for :he western grains industry are Brighter than they were six months he said. Bishop Named To Army Post OTTAWA (CP) Rt. Rev. Harold F. G. Appleyard, Bishop of Georgian Bay, has been ap- pointed Anglican bishop ordi- nary to the Canadian Forces, the defence departmen announced today. Bishop Apple- yard, a military chaplain during the Second World War, succeeds Bishop John Anderson, bishop o British Columbia and former president of the Royal Canadian Legion, who died last fall. LOAN FOR PERU OTTAWA (CP) A loan of in United States funds to Peru to cover sale of Cana dian equipment, materials, de- sign and construction services for a 400-room luxury hotel in Lima was annoueed here by Trade Minister Jean-Luc Pepin. IT FAYS YOU TO BRING BACK OUR BOTTLES. Look for Coke in our returnable money-back bottles. It' s the real thing. Coke. BOTTLW: PURITY BOTTIINO (1967) ITO. LETHBRIDGE, ALBERTA niitM Ml Mfe wllkh W the statement was delivered by Jean-Pierre Goyer, parliamen- tary secretary to External Af- fairs Minister Mitchell Sharp. Emphasizing that it is "the Canadian government's desire to move as rapidly and as con- structively as possible in the direction of full co-operation in the Goyer added: government, has care- fully considered the question of whether Canada should seek, membership in it (the OAS) at his lime and has decided that, vhile it may be that in future a Canadian government will eon- 'hide that Canada should join, he best present course for Can- ida is to draw closer to individ- jal Latin American countries and to selected institutions .of he OAS and other inter-Ameri- can institutions. BEST FOR CANADA This vould best prepare Can- ada for whatever role it may future be called upon to play in the Western Hemi- iphere." Goyer heads the Canadian ob- server group attending the two- week OAS General Assembly which opened last week. On the suggestion of a possl- DONT MIX In this case, water and Whisky, this seven-week-old cat who lives in Edmonton don't mix. Whisky is attracted each day by the guppies in the bowl but is deterred os soon as she gets her paws wet but only until the next day when she's game to try again. New B.C. Daily Paper Folds PRINCE GEORGE, B.C. (CP) North Star has folded less than nine weeks after it be- gan operating as a daily news- paper. "We just ran out of said managing editor Rollie Rose. The North Star began pub- lishing as a daily May 2 as an offspring of the twice weekly Prince George Progress. Mr. Hose said a decision wil be made soon whether to revive the paper as a weekly. ABSORB HEAT All flowers found growing high in the Alps have one thin; in common; They all have leaves to absorb heat. permanent observer, Goyer said: "We would hope that he would be able to attend on a continuing basis meetings of in- ter-American bodies in which Canada has an interest and at which Canadian attendance would be appreciated." Meanwhile, Canada intends to increase "within its means" its contribution to the Latin Ameri- can "arsenal for peace." "As weapons for it we would like to take a number of steps in the development assistance field which, taken together, will more than double our present alloca- tion of funds to Latin America." He also said Canada would like to participate as a full member in inter-American or- ganizations which deal with "so- cial or economic questions." STUDENT SUMMER EMPLOYMENT PROGRAMME If you have had little success in finding summer employment, why not investigate this opportunity to help yourself fman- dally and to serve Canada part time in company with a fine group of other young men. A requirement exists, in Southern Alberta, for approximately 200 male students to undergo seven weeks training with Canada's Militia. You will be paid at Militia rates of pay. You must be between the ages of 16 and 24, and medically fit to military standards. At the end of seven weeks you will have had summer employment and you will be offered the opportunity to continue service with a local militia unit it you so desire Enrolment in the Militia will take place beginning 6 July 70. From now until then you must register at your locdl armoury to indicate your interest. Full details of train- ing to be undertaken will be provided at that time. Contact your local armoury on Tuesdays, Thursday! and Fridays between a.m. and P.m., Tuesday, Thurs- day and Friday evenings between 8 p.m. and 10 p.m. Id learn more about, and to register for, thii employment. -in Colgary, Mewata Armoury, 8th Ave. and 11th St. S.W. Phone 263-5516 -in Lethbridge, Kenyan Field Phone 327-2650 -in Medicine Hat, Patterson Armoury Phone 526-2636 ACT NOW! VACANCIES ARE LIMITED! inm IN _ Mustard FRESHIE ASSORTED Powdered Drink 10 MAI _ Lemon Juice 59P KIN65FORD CHARCOAL Briquettes 5-ib. 4515 FRENCH'S PREPARED KON TIKI BLUEBERRIES OR BINS Cherries Watermelon Cantaloupe............2 CALIFORNIA Corn on the Cob 6 f CALIFORNIA CANADA NO. I CANADA NO. 1 Cucumbers STOKELY'S FANCY CUT Wax Beans 5.1 .00 ROYAL LUNCHEON MEAT 12-01. tin 2.79' BETTER BUY BEANS with PORK......... 6 14-01. V tor I0 SEVEN FARM CHEESE SLICES 16-oz. pkg. 69' RED OR BLUE BRAND SIRLOIN STEAK......... T-BONE STEAK......... CLUB STEAK SPECIAL BARBECUE CUTS NO EXTRA CHARGE Ib. Ib. Ib. 1 1 1 ,29 ,39 ,39 RUMP OR ROUND Steak Roast 1.09 WHOLE OR SHANK HALVES Hams ...........IB. 65c Ham Steaks 99c BONELESS PORK Loin Roasts m 99c PORK PICNIC SMOKED 59e VAC.PAK Wieners 65c SLICED SIDE Bacon .....Mb. Pka. 95c GRAHAM'S FOOD MARKET 701 3rd South 327-5411 MEATS 117.1112 OPIN THURSDAY Till P.M. PHONI AND SAVE FREE DELIVERY ;