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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 9, 1974, Lethbridge, Alberta i immj riB i nvmvwE Public probe ends EDMONTON A public nquiry into the collapse of Cosmopolitan Life Assurance Co. ended Wednesday with presiding judge Roger terans saying he did not have institutional authority to compel living outside Alberta to A meeting of about 60 Cosmopolitan shareholders voted May 1 to ask that 38 idditional witnesses be ncluding some with British Columbia addresses. But commission counsel J. C. Major jf Calgary read the 38 names to the nquiry Wednesday and explained why le believed each nothing to add that falls within the inquiry's terms of He said the positions of some government officials were adequately outlined in memos and letters that had been entered as exhibits. Judge Kerans said any question regarding the involvement of Gerald Sklar of Vancouver was answered the fact that he refused to come and give testimony and the necessary inference from The 36-day inquiry was told that Mr. who did not make a scheduled appearance to received the remaining assets of Cosmopolitan's parent P.A.P. Holdings in 1971. The district court judge also said he would attempt to supply his findings to the government by July 1. Eric an accountant with Price Waterhouse and Co. which acted as an independent consultant for the testified Wednesday that losses in and related firms such as Canamera Enterprises Sioux Holdings Ltd. and Rocky Holdings totalled about million. He said it was a and did not include the investments of shareholders who their own did not want to publicly declare their losses. In no value was assigned to the losses of Cosmopolitan president Alberta Jaasma because the accountant .couldn't substantiate any cash investments by the said Mr. Geddes. Mr. Geddes claimed that the amount of money spent for purposes not directly related to selling such as setting up a conglomerate and attempting to expand into was extravagant. He also said the provincial insurance department should have given Cosmopolitan time limit in which to bring its house in If the company couldn't meet the limit it should have been required dispose of its The accountant said he would be surprised if any new provincial insurance companies were formed in the next few and in fact would not encourage their creation. When provincial legislation was changed in 1962 to allow the incorporation of Alberta insurance officials believed provincial companies would be more responsible to local by investing their funds in the local market area. Ex-astronaut wins Former astronaut John Glenn appears at a rally at a hotel in after he won the Demo- cratic nomination for the U.S. Senate. Home off the range. The next time you're heading for call our toll-free reservation number first. Zenith 6-601 4. Or ask your travel agent to reserve a room. Then come on home to friends. Downtown Calgary. 9th Ave. 1st next to the Calgary Tower. CP Hotels U There's one great reason why Acadian 400 is becoming so popular. MCUOW Fled Canadian unhappy OTTAWA Eugene the man who battled with Soviet authorities for 3Vz years to return to his native has found that home- coming tinged with dis- appointment. Seven weeks after his fam- ily's jubilant arrival in Ottawa March both Mr. and his wife Svetlana are unemployed. They live with their three children in a a-rnonth two-bedroom most of which is paid by welfare. all very Mr. Lenko said in an interview Wednesday as he recalled the hunger strike he staged last summer in front of the Cana- dian embassy in Moscow to win an exit visa from Soviet officials. fighting for so long to get out of the Soviet I can't support my wife and Mr. a native of Ste. became a public figure last year as news of his fight to leave the Soviet Union reached the Canadian govern- ment. Soviet authorities refused exist visas to him and his family despite a personal letter from Prime Minister Trudeau confirming his Canadian citizenship. The family was granted per- mission to leave their home in Kiev March 19. Mr. who went to the Soviet Union with his Ukrainian parents in worked there as a broadcaster and translator. He has been looking for work in the same field since he arrived home. He says both he and his wife have applied with university Russian language schools and the federal government. Mr. Lenko has been promised some freelance translation work with the secretary of state department. need a steady job right He says he is considering moving his family out of Ot- tawa. B.C. hospital rate boosted VICTORIA Hospital insurance regulations have been amended to increase the amount paid on behalf of British Columbians who must enter hospital outside Health Minister Dennis Cocke announced Wednesday. Effective May the rate was increased to from a the minister said in a statement. He added that the increase should be particularly helpful to those B.C. residents admitted to hospital in high- cost areas of the United States. Man's and Boys' Wear SUPER VALU MEN'S CASUAL PANT polyester and cotton con- struction that is machine washable. Permanent press. Styled with the popular bag leg they come in assorted checked patterns. Quality Canadian made in sizes 28 to 34. MEN'S SHIRTS Assorted material blend shirts with long sleeves. All are perma press and machine washable. Choose from dress or sport shirts in Van Fruit of the Tooke or Laurentian brands. Assorted styles in a broken size range. Sizes 14V2 to 2 99 each MEN'S SPORT JACKETS polyester jackets that must be dry cleaned. Styled with two button front and single with two front flap pockets and single vent in the back. Colors of Burgundy and Beige. Broken size range. 17 FAIR POPULAR Expo '70 in attracted more than 64 million visitors in 183 days. DEPARTMENT STORES DIVISION Of FWWOOLWORTH CO 110 Collage Shopping Mall. 202S NUyor Magntti Drfrt Open Dally 9 a.m. to 6 p.m. Thuraday and Friday 9 a.m. to 9 p.m. SATISFACTION GUARANTEED ;