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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - July 31, 1974, Lethbridge, Alberta Pacemaker baby Nurse Sandy Thompson holds Hollis Haines of in the intensive care unit of Oschner Foun- dation Hospital in New where doctors installed a pacemaker to keep his heart beating steadily at the age of 18 hours. The born last Friday in had a complete congenital heart block. Doctors said the infant probably is the youngest ever to receive a heart pacemaker. Corp. profits role 'lacks understanding CANADIAN PRESS There is a lack of un- derstanding of the crucial role played by corporation profits in says Odium Brown and T.B. Read of Vancouver. Odium Brrfwn says in an investment letter that politicians have been quick to condemn recent profit increases as being without either examing the underlying causes for the increases or defining what would be considered an adequate profit. Ii is no surprise that the general public is unaware of the true function of profits. The consequences of inadequate corporation the firm would be much more serious than a few cases of .temporary excess profitability. Since the economy cannot func- tion without capital and there can be no risk capital without government-sponsored programs would suffer if funds accrued through taxation of profits de- creased. Projects would either be hampered or personal taxes would be in- creased to make up the deficit. At the heart of a dynamic and innovative economy. Odium Brown is the concept of risk capital. Without this new industrial capacity and expanding employment oppor- tunities will not be created. The stock market is the single most impor- tant source of risk capital. In the stock markets have been an effective and sensitive mechanism for matching the sav- ings of individuals with the long-term financing requirements of in- dustry. Odium Brown says this function rnight be seriously under- mined if present trends in federal and provin- cial government policies continue. The savings of many the firm have been depleted as a result of current stock market conditions. The number of small in- vestors purchasing stock may have declin- ed in recent but most people are involv- ed in the market in- directly through investments in pension retirement savings life in- surance policies and mutual funds. Big mul- tinational cor- opposed to small Od- ium Brown often have been the targets of government policies. In addition to not defining when small becomes big these policies ignore the fact.that the motivating force behind many small businessmen is the in- centive to grow larger. An unfavorable investment the firm can thwart these dreams even more than the expan- sion plans of a large poration. Odium Brown says leaders in the business sector are starting to question the direction of government policies openly in an effort to ex- plain the role of profits in the free enterprise system and bring about changes in government policies. Nixon expected to sign bill on gold ownership WASHINGTON President Nixon is expected to sign a bill this week allowing United States citizens to buy and sell gold after Dec. a treasury department official said. The bill is expected to be de- livered to the White House to- and the president should sign it within a few days. The treasury has opposed gold ownership for believing this will gold and affect the international monetary situation. pressure in Con- gress for an end to the 40-year ban has been growing in re- cent years because many Americans want to buy gold in bars as a means of offsetting inflation. The end to the gold ownership ban is expected to mean the establishment of gold markets in the United GUARANTEED ONE COAT gal. Q99 Reg. gal. a-One Coat Latex Exterior Paint. Guranteed to give one-coat Won't peel or flake resists blistering. Dries velvety in 30 mins. hands clean in soapy water. 48 30R 020 410. gal. House and Trim Paint. Our best oil base exterior finish. 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