Lethbridge Herald (Newspaper) - July 15, 1971, Lethbridge, Alberta
20 - THE LETHBRIDGE HERALD - Thursday, July IS, 1971 Economy growing at capacity r OTTAWA (CP) - The Canadian economy is growing at its capacity rate and can start catching up on the slack that developed during the period of anti-inflation restraints. This is the view of the 23-member Paris-based Organization for Economic Co-operation and Development', supporting earlier statements by Finance Minister E. J. Benson. The OECD's mid-year economic outlook report released in Paris at midnight said Canada's growth of real output in the next 12 months might exceed considerably its normal capacity for growth. Mr. Benson told provincial finance ministers and treasurers earlier this week the country's output this year would exceed a real growth rate of 5.5 per cent. Real is used in this context to mean growth and output in actual goods and services, not counting any inflationary price rises. The OECD referred to Canada as having a capacity rate of real growth of 5.25 per cent a year. Its report was written before mid-year, and said Can-r.da's growth of real output "might come close to the capacity rate" in the first half of 1971, and then "considerably exceed it over the following 12 months." COULD CATCH UP This is when the country starts catching up on the slack in the economy. When it was coming out of the last major recession-in 1962 to 19G4 - the growth of real output ran to more than six per cent. Real output rose only 3.3 per cent last year. ides in the neivs TURNS ON THE HEAT NOTTINGHAM, England (AP) - City officials who hired a witch doctor to bring sunny weather have changed their minds-now they want him to cool it. "He's conjured up a heat wave," complained Richard Gregson-Williams, director of the Nottingham Cultural Festival. "He's good at the job, but he doesn't have to over-impress us." Gregson-Williams hired the African, who calls himself Prince Gipsy Lee Petulengro, four days ago to keep the rain away when the festival began. The sun has been blazing and the temperature has hovered around the 80s ever since. "Now we are having a quiet word with Prince Gipsy Lee to ease up a little," said Gregson-Williams with a straight face. The witch doctor, 70 years old and the father of 17 children, wasn't talking. He was supposed to get �100 from the festival if he kept the rain away for 12 days. WOMAN BRAKEMAN LOS ANGELES (AP) - The Southern Pacific Railroad says Gaylene Snow isn't agile enough to become the company's first brake woman. Miss Snow disagrees, and has filed a complaint with the federal equal employment op- Is there something on this 1st you're looking for? .S Air Compressors-paint Air Compressor-sprayer Air Conditioner-home Air Conditioner-car Air Mattress-30" Axes Red-Rollnv/ay Cot 30" Belt-Vibrator Reducer Bicycles Blenders-10 speed Booster Cables Car Stands-3 ton 0 Car Top Carrier Car Repair Equipment Cement Mixer-3 cu. ft. Chairs-stacking Coffee Urns Crib Crow Bar Dishes-sets Drill-'A" variable Drill-%". Drive-it Gun Duplicator Exercise Bike 20" Fan Fire Extinguishers Flame Thrower-weeds Glassware-water, juice Glassware Kit-punchbowl and 12 cups Grinder-6" bench Hammer Drill-Va" Hammer- 10-lb. sledge Hand Trucks-appliance Hedge Trimmer-electric High Chair-folding It Hoist and Crane-1 ton Ice Cream Maker Jacks-3 ton hyd. Ladder-20' extension Ladder-36' extension Ladder-step 7' and 10' Lawn Mower 18" gas Lawn Trimmer and Edger Nail Puller-hand Pipe Cutters-2" Play Pen-folding Post Hole Augers Pry Bar-24" Puller-gear Pump-sump Pump-utility Rake-power 18" gas Roller-18x24 lawn Roto Tiller-S H.P. Rug Shampooer-2 brush Rug Shampooer-13" Sander-3" belt Sander-edger Sander-8" drum Saws-electric Silverware-knives, forks, spoons Sleeping Bags-30" 0 Socket and Tool Set 0 Spreader-seed 0 Staplers 0 Steamer-wallpaper 0 Tables-8' 0 Tcnt-9'x9' 0 Tow Bars 0 Trailer Hi!;hes 0 Trailers-utility 0 Trap and Toilet Auger 0 Vacuum Cleaner 0 Weelbarrow-3-ru. ft. SERVICES LTD. 1712 2nd Ave. S. Phone 328-8775 Open 7 a.m.-7 p.m. Weekdays portunity commission saying the railway is discriminating against her because of her sex. With the help of the United Transportation Union, Miss Snow, 37, persuaded Southern Pacific to make her a brake-man trainee last month. She slipped on a boxcar ladder last week, and the company said here she lacked sufficient agility and returned her to her former job as a clerk. OH, MIGOSH! WENATCHEE, Wash. (AP) - Mr. and Mrs. Floyd Simpson were helping his mother move to another residence Sunday, when a secret compartment in a dresser drawer popped open and $6,580 in cash dropped out. "We were stunned," Mrs. Simson said today. "But we knew it wasn't ours." The Simpsons called the sheriff's office and reported they had purchased the dresser and other furniture from a woman's estate three years ago. The cash is being returned to the estate. "The money was nice to look at," Mrs. Simpson said, "bit we knew we couldn't keep it." "The expansionary policies be:; ^ followed in Canada seem to be bearing fruit and most indicators are now pointing steadily, if not spectacularly, upwards," the OECD report said. "But unemployment is declining only slowly and price increases, which slowed significantly during the past 12 months, may rise somewhat faster in the year ahead." For the OECD countries as a group, representing the major industrial countries of the western world, the report sees a general economic advance. Collectively, there was a slump in 1970 when output increased by only about half its long-term average. Besides the principal countries of Western Europe, OECD members include Canada, the United States, Japan and Australia. The OECD said Canada's economic revival began in the last three months of 1970, "stemming mainly from continuing strength in government expenditure and from a recovery of res-Mential construction and private consumption." PROSPECTS BRIGHTER "Assuming a labor force growth of the order of last year's 2.5 per cent, and a mod- crate productivity growth, the unemployment rate could come down gradually but might still average around six par cent over 1971, and perhaps 5.5 per cent in the first half of 1972, seasonally-adjusted." Seasonally-adjusted u n e m-ployment rates are used by economists to look at longer-term trends, since monthly unemployment rates - particularly becairse of Canada's climate - can fluctuate widely. Canada's rate rose above 6.5 percent during most of last fall. The report on Canada also said: "The size of wage increases is very uncertain and still a matter of concern for public authorities. Assuming that they can be kept below seven per cent per employee, and that employment expands by 2.5 per cent, the growth of the wage bill could be kept under 10 per cent." It expects that consumer spending will grow significantly in Canada. Government spending will remain strong until mid-1972 when, perhaps, it could taper off as other spending perks up. "Business investment spending might show less vigor, but should react to the upturn later this year." Port strike idles ships and workers ! 'iAN FRANCISCO (AP) -i Tl rty-four Pacific Coast ports j sotted into the 14th day of a ' .sr.-ike today by the International ; Longshoremen's and Ware-ho'.isemen's. Union which has m; de idle 91 ships and related deskside industries. Different scene .fORT MACLEOD (Special)-Tr.vvn of Fort Macleod float,' T/tsced in all south Alberta last '/'ar. This year Col. Macleod and Chief Crowfoot's meeting h.i.s been replaced with the settlers' arrival. "First Turning of So; I." The float will have a differ unt scene each year until 1911, the town's centennial. DEATH SQUAD LEADER - Rio de Janeiro authorities say that Sergio Pleury, a police precinct chief in Sao Paulo, has been identified as the leader of a Death Squad or police vigilante group. MEETING'S SHORT GENEVA (Reuter) - The bi-wer-kly meeting of the 25-nation Ccneva Dismarmanent Conference adjourned here after exactly 54 seconds. During the mi.e-year history of the confer-e ;'.is,-to-port Viking car-top boat. Overall length is 1 T6", bow depth 18". ^^AiOO Constructed of lightv.i.iijh'. aluminum with three seats covered in double vinyl. Hurry inl r J\7!^ Regular 299.00. SPECIAL iach................................................... fcaWW Sporting Goods, Lower Floor Shop Tonight and Friday 9 to 9. BUY LINE 328-8811.