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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 7, 1973, Lethbridge, Alberta 24 THE UTH8RIDCE HERALD Thuwdoy, Junt 7, 1973 Retirement at 60 pension problem TORONTO (CP) retirement at 60 might make pension plans twice as ex- pensive, says the president of the Canadian Pension Confer- ence. Dudley Fiinnell says it would be better to move people in less demanding jobs instead of changing the retirement age. Politicians see a lower retire- ment age as one way to deal with unemployment, he says, and it undoubtedly would be at- tractive to voters. "It increases costs very much. It effectively means that in times of full employment fewer people would be working and more people would be liv- ing off the work of those people. "It can easily double pension costs if everyone retires at 60." Earnings up TORONTO (CP) Molson In- dustries Ltd. reports consoli- dated net earnings for the fiscal year ended March 31 of 771 or ?1.62 a share, up sharply from and in the previous year. Sales rose to from in 1972. Shareholders will be asked at the anual meeting in Montreal June 28 to approve a name change to Molson Companies Ltd. Revenue iii fiscal 1973 from beer and ale sales was 428, a gain of 12 per cent from last year. The total represented 50 per cent of consolidated sales. Beer volume in Canada increased 6.6 per cent to a record 4.7 million barrels. Mr. Funnell is president of Tomenson-Alexander Ltd., a Montreal actuarial and em- ployee benefit consulting firm. The Toronto-based pension con- ference is an industry associ- ation which operates primarily as a forum for exchange of in- formation and opinion about pensions. Higher taxes and greater con- tribution levels for government pension plans could be expected if the retirement age were low- ered, Mr. Funnell says. The costs of private pension plans would go up as they inevitably adopted the lower retirement age. Inflation now can have a dev- astating effect on pension bene- fits and with early retirement erosion of a fixed salary through inflation would be ex- tended over a longer time span. Consequently, a cost-of-living escalator would become a more important feature. Mr. Funnell says the cumula- tive effect on costs would be great if inflation continues at, or near, present rates. He believes a pension equal to about 70 per cent of salary in the final years before retire- ment probably will be the limit for cash payment. "There are other ways they can have their money. It's a question of priorities." Mr. Funnell says the pension conference is evolving into an organization concerned with all types of employee benefits. Benefits such as health care and insurance now are a costly payroll item and he estimates that excluding vacations they account for between 10 and 15 per cent of payroll costs. Paul Frank's Plumbing and Heating Ltd. !s pleased to announce that its present address is 159-20th STREET Phone 328-5490 After Hours 328-8440 CAPITOL FURNITURE AUCTION SALE STOCK REDUCTION OF NEW AND USED at HURLBURT'S WAREHOUSE 1920 2nd S. Uthbridge, Alberta MONDAY, JUNE 11 th, 1973 TIME P.M. Bath mat sets, cash register; 2 new ches. suites; dressers; Frlgidaire automatic washer and dryer; mangle; odd chairs; 2 new chrome tables; gas heater; radio-rec. player; beds; chest of drawers and vanity dresser; new bedroom suites; floor lamps; desk; night tables; headboards; new kitchen tuites; odd tables, coffee tables; end tables; new room size rugs; new lamps, end tables and coffee tables. Plus many, many more items too numerous to mention FOR FURTHER INFORMATION CONTACT: HURLBURT AUCTION SERVICE LTD. PHONE 328-4705 1920 2nd AVE. S. LETHBRIDGE AUCTIONEERS TED NEWBY KEITH ERDMANN Lie. 41 lie. 458 No salt Pepper, one of the Pepper and Valentine duo, is Brothers-Barnum and Bailey Circus behind him. Pepper shown entertaining Montrealers on the open ploza of Place will go to Paris this fall to study with the famed Jacques Ville Marie. With 12 years experience in the Ringling Lecoq. Arms, troop cut prediction hinted Home remedy secrecy end near By JEFF CARRUTIIERS Herald Ottawa Bureau OTTAWA veil of se- crecy surrounding the in- gredients of most over-the- counter home remedies will soon drop. j And Canadians will finally I discover what they are really buying, at least in 'terms of ac- tual medicinal ingredients, in the hundreds of potions, lotions, 1 pills, ointments, syrups and sprays available for self-medi- cation at drugstores across the country. Federal Health Minister Marc Lalonde has revealed officially for the first time that he has definitely decided to drop the controversial secrecy provision of the Proprietary and Patent Medicines Act. The act, which covers an esti- mated over-the-counter AUCTION SALE LOT AND HOUSE IN THE TOWN OF COALDALE Friday, June 8th p.m. ADDRESS: 2111 24th Avenue South, Coaldale. TERMS: 10% Down with balance to be paid within 10 days. LEGAL DESCRIPTION: That portion of Lot 8 which lies to the West of the Easterly 105 ft. in perpendicular width through- out the said Lot 8 in Block 17 on Plan Coaldale 5703 H.J. SIZE: 182.85 ft. Deep x 57.75 ft. Wide. 1972 TAXES: HOUSE: Older 2 storey Home FOR FURTHER INFORMATION CONTACT: HURLBURT AUCTION SERVICE LTD. PHONE 328-4705 1920 2nd AVE. S. LETHBRIDGE AUCTIONEERS TED NEWBY KEITH ERDMANN lie. 41 Lie. 458 drug products available in Can- ada, has been the object of much criticism, notably from the Quebec College of Pharmacy, in recent months. Once the secrecy provision goes, so does the act, according to one senior health department official Tuesday, since the se- crecy provision is the raison d'etre for the separate act. More important for con- sumers, the death of the se- crecy provision will mean that home remedy manufacturers will be required to list at least the medicinal ingredients on product both professional and consumer groups alike have clamored for. Health Minister Lalonde, who still believes that the principle of "self-medication" must be retained in Canada, suggests there are a number of good things other than the secrecy provision in the present, act that must be preserved. These in- clude the requirement that home remedies must be regis- tered and approved by Ottawa before they can be sold and that the registration is reviewed pe- riodically. Mr. Lalonde and his officials refuse to say how the good parts of the existing patent medicines act will be pre- served, while the heart of the bill, the secrecy provision, is dropped. But sources in government say the only possibility would be placing what's left of the patent medicines act under the present Food and Drugs Act. They add this is also the most logical move, considering the ever-decreasing distinction be- tween drugs in the over-the- counter and prescription classi- fications. The only other alternative would be to try to create a new patent medicines act, but sources say recent attempts in this direction have failed. The necessary legislative changes could not be dealt with by Parliament until fall at the earliest, Mr. Lalonde said. In related matters, Mr. La- londe noted that the health de- partment is already cracking down on the granting of new registrations and on renewing old licenses for home remedies. He said more products have been rejected in recent months than ever before, in part as a result of the controversy sur- rounding both the patent medi- cines act and the home reme- dies themselves. Mr. Lalonde continues to re- ject suggestions from the Que- bec pharmacists and others that over-the-counter drugs should be available only on pre- scription, because the products are supposedly often so dan- gerous. Sources in government say the health department plans to introduce more stringent safety requirements for home reme- dies during the revamping of the patent medicines legislation. By HAROLD MORRISON CP Foreign Editor VIENNA (CP) George Grande, Canada's delegate at the East-West forces-reduction talks here figures some "sym- bolic" cuts in troops and arms may take place in Central Eu- rope within 18 months or so. But the Montreal-born diplo- mat, who has been living out of a suitcase during the grinding four months of preliminary bar- gaining, forecasts that it may take as long as five years be- fore the world sees really sub- stantial military withdrawals from the European cockpit. "We have made some prog- ress but the preliminary talks have taken far too Grande said of the discussions now about to wind up with a de- cision on where and when to be- gin the hard-core bargaining. Indications are that the NATO and Warsaw pact members will agree to return to Vienna per- haps in October and that the haggling will be renewed on the ambassadorial level. PROGRESS SLOW Both sides have expressed hope for the last six years of reducing tensions by with- drawal of troops. But when it came to designing the frame- Language learning increases OTTAWA (CP) The num- ber of Canadians able to speak both English and French in- creased slightly between 1961 and 1971, Statistics Canada re- ported Tuesday. The agency said the 1971 cen- sus showed the percentage of bilingual persons increased from 12.2 per cent in 1961 to 13.4 per cent in 1971. The number of people able to speak only English dropped from 67.4 per cent in 1961 to 67.1 per cent in 1971. The number of people able to speak only French dropped from 19.1 per cent in 1961 to 18 per cent in 1971. The statistics bureau also re- ported that the number of people speaking neither English or French increased from 1.3 per cent in 1961 to 1.5 per cent in 1971. work for withdrawals, it soon became evident that progress would be extremely slow. Since the start of preliminary talks at the end of January, two stumbling blocks developed: the status of Hungary, which the West wants as a full participat- ing member and which the East insists must remain as an ob- server, and the question of de- fining "mutual and balanced re- ductions" which are supposed to the basis of bargaining. With the Soviet Union and its Warsaw pact members reported to have about twice as many troops in Central Europe as the NATO to Soviets maintain that "balanced" reductions might take a large slice of So- viet troops stationed along the West German border. Grande said in an Interview the Soviets want a simple agenda aimed at reduction of troops and arms without spell- ing out details. WANTS 'CONSTRAINTS' The NATO group, including Canada, insists on a more de- tailed and comprehensive agenda, including what it de- scribes as "constraints" to en- sure, for example, that Soviet troops moved out of East Ger- many are simply not sent to Hungary or Czechoslovakia in- stead of shipped back to the So- viet Union and perhaps dis- banded. There also has been much discussion regarding speciifc areas or countries from which troops are to be withdrawn and the need for inspection to en- sure that agreements are ful- filled. In the past, the Soviets al- ways opposed on-site inspection of their territory. The view among Canadian and other del- egations is that the American satellite system may be able to detect any attempt at decep- tion, and so the West might abandon is insistence on in- spections. TEST FITNESS OTTAWA (CP) Canadians trying to improve their physical condition will soon find it easier to measure their progress. The health departments Recreation Canada is ordering about 20 bi- cycle ergbmeters from a Swed- ish manufacturer, which will test the effect on the heart of a measured amount of exercise. Such tests can lead to a warn- ing that the person concerned is exercising beyond a desirable amount, a Recreation Canada spokesman said. i i I BUSINESS I OPPORTUNITY I A new Alberta Snack Foods Company requires a' product distributor for the City of Edmonton. An ex- cellent business prospect for an experienced sales- I man who wishes to establish his own business or ex- isting distributorship interested in expansion. I A capital investment is required. Our employees are aware of this advertisement. Please reply to.- I _ v.aigary, Mioerra. "Business 2107 Palliser Drive, S.W., Calgary, Alberta. I I I I I I ft {V We're right on the target of 200 bra nd new 1973 cars and trucks by the end of June. To sell this quota we're really dealing. Top trade-in allow- ances for premium late model cars are being offered. One-stop car shop at Beny's now. On the spot bank rate financing and courteous friendly service by the Beny boys. SEE ONE OF THEM NOW ON THE CAR OF YOUR CHOICE ?7 t! i fe. S I it ;g @m i OK SUPERMARKET CAR LOT MAIN GARAGE AND SHOWROOM PHONE 328-1101 ;