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Lethbridge Herald, The (Newspaper) - May 18, 1974, Lethbridge, Alberta Campaign to ease U.S. penny shortage WASHINGTON The United States Mint is planning a countrywide get-out-the- penny campaign in an effort to ease a penny shortage that is daily growing worse. Pennies are in such short supply that some supermarket chains have asked for per- mission to use paper script in place of pennies in their stores. The mint has not yet re- sponded to these al- though it promises an opinion soon on whether use of script in such a way would be legal. Mint director Mary Brooks said the government also has started a study of U.S. including whether there is need for a 2Vj-cent piece to help relieve the pressure on the penny. Federal Reserve banks started a month ago to ration pennies to commercial banks. A spokesman for the National Association of Food Chains said the shortage is causing problems in food- store operations. SOME HOARDING the mint takes some responsibility for helping create the shortage. Earlier this the mint proposed making pennies out of aluminium because of rising copper prices. That idea has since been dropped but Miss Brooks said many people apparently are hoarding the copper pennies thinking they can sell them at a profit later when the price of the copper content exceeds the value of the penny. She said this is impractical because of the huge quantities of pennies that will be needed to make a significant profit. FORECASTS TROUBLE WHITE SULPHUR W. Va. Lynn chairman of Chrysler said Friday basic industries in the United States face a critical shortage of capital that poses the threat of consequences in the near He told the annual spring meeting of the Securities Industry Association that companies in and automobiles generally face difficulty raising the money they need through the stock market because of market conditions and low profitability. ANNOUNCEMENT JAKETAMS Mr. Tom Sales Manager of Astro Realty Ltd. is pleased to an- nounce -that Jake has joined Astros Sales Staff. Jake has many years of experience in the real estate field and invites his many friends and customers to give him a call for any of their real estate needs at 328-6522 or call ASTRO REALTY LTD. Phcne 328-7748 Westminster Mall Miss Brooks said there is no real shortage of they are just not being circulated. The mint already has doubled penny production this year to 35 million coins a day. It has turned out 62 billion pennies in the last 15 or about 300 for every U.S. woman and child. Checkout scanners cut costs TORONTO Long line-ups at check-out counters will be a thing of the past if major food chains install computerized food scanners says William president of Loblaw Groceterias Co. Ltd. Mr. Sherman said his company may install the mini- computers to cut costs Instead of a clerk reading prices and ringing them into the cash a computer terminal would scan the packages electronically and register the price. Mr. Sherman said the system would involve an electric cash register to show the amount of each item as it passed along a conveyor an optical scanner which would pick up code numbers on the purchase to identify and a mini computer to do the calculating. As an item passes through the electrical beams moving from side to side would pick up the code numbers even if it was not facing upward. EMPLOYER HELPS All items would be fed into the scanner by an employee who would take money from the customer and wrap the items. Instead of having a price on each item in the one price would be posted for each type of item. Each package would have a ten-digit code number. The first five digits would represent the company and the last five would identify and name the price of the package Mr. Sherman said the cash register tape would not only list prices but also list the products beside the prices. OCEAN GROWS Cores of the taken by the ocean-going drilling rig Glomar have proved that the Atlantic Ocean is expanding by about one inch a year. May 1174 THE LETHBRIDQE HERALD 25 Dollar average builds folio Speculators stocking freezers with beef TORONTO When the country's freezer facilities are full of stockpiled there's no place for new production to go but on the market at whatever prices consumers are willing to industry sources said this week. They indicated this situation is likely to occur around the end of June when freezer space is needed for field produce. And when all that beef comes on the today's rising prices are expected to turn around. see price said Charles manager of the Canadian Cattlemen's Association. suppose from your viewpoint that's good Jean president of Morrison Lamothe Frozen Foods predicted that speculators are going to take a Stocks of frozen meats in Canada rose to 206 million pounds from 130.6 million Wheat Pool opposes open market plan CALGARY The Alberta Wheat Pool said Friday it opposes Justice Minister Otto Lang's proposal to place barley and oats on the open market and to eliminate delivery quotas for all grains except wheat. Bank says money demand easing OTTAWA The weekly financial statement issued this week by the Bank of Canada showed an easing demand for money during the first week in May. This followed the end of the postal strike which had delayed many payments in mail bags and created a short- term demand for funds to meet end-of-the-month com- mitments. The bank's statement also showed a substantial jump in redemptions of Canada savings bonds during the week ended May which was the period just prior to an announcement of a bonus plan to increase yields on savings bonds. Total value of general bank loans outstanding declined by million duripg the week ended May to a total of billion. The previous week's statement showed sn increase of million and during the five weeks to May 1 there was an increase of billion. The expansion in bank loans and increase in money supply were major factors influencing a Bank of Canada decision to raise the bank rate to per cent from 8 effective last Monday. The bank rate is the rate which chartered banks loan from the central bank. The commercial banks borrow only occasionally but the bank rate has a significant influence on the interest rate structure and the central bank move was an attempt to ease demand for money by raising interest rates. The in a statement issued by first vice president A. J. said this proposal by Mr. also minister responsible for the Canadian Wheat basically and acceptable.'' is also great danger to producers if a system is imposed by government which would expose the farmer's product to speculation and the statement said. It said Mr. Lang to have been by the recent poll of rapeseed the majority of whom voted to retain their open marketing. The statement said the minister mistaken in believing that the rapeseed vote can be interpreted as an indicator for other pounds in as speculators kept buying. Now there's a squeeze on freezer space. No industry sources could predict how far beef prices might fall at the retail however. American beef prices are below Canadian prices but the Canadian ban on beet tattehed with the DES hormone has in- sulated the Canadian trom the U.S. price trend at meaning there's no export market for Canadian spokesmen say. got to eat there's no other Mr. Gracey said. Harold manager of Federal Cold Storage and Warehousing said warehouses are the first to feel buyer resistance and foods in storage have not been moving as well this spring. this is an indication of an over-all it's too early to tell. But I've said to 'When is this bubble going to Pillow float Looking like waterborne white air bags used to float logs that would otherwise sink dot the booming yard at MacMillan Bloedel's Cana- dian White Pine division. Back on the the logs are towed to the mill by a dozer boat for pro- cessing. Dedication W. Va. Arnold Miller of the United Mine Workers will take part May 26 in the formal unveiling and dedication of a statue here honoring all men who have lost their lives in coal mines. The statue was recently erected at the Marion County Consolidated Park by Miners Memorial Shrine Inc. Prestige Office Space FOR RENT Phone 327-6747 By WENDY ROSEN TORONTO. There is no easy system of beating the stock market but dollar aver- aging is one of the best meth- ods for building an in- vestment says Cana- dian Business Service. This program disregards short-term market conditions in favor of a systematic schedule of regular in- vestments in a predetermined stock or group of stocks. The service says the first step in starting a dollar-aver- aging program is for the in- vestor to determine how much can be invested each year. Then a stock or group of stocks is chosen. These should be in the high- quality growth category- stocks that have exhibited an above-average growth rate for 10 years or more in an in- dustry growing at least as fast as the economy. The service says the com- panies also be pre- dominant within their in- be diversified geo- have a large as- set a sound balance sheet and a management team with proven expertise.'' PICK LNVESTMENT DATE The next step is to deter- mine the date or dates for in- vestment. Depending on the sum it should be in- vested semi-annually or quar- terly to take advantage of short-term stock-price weak- the service says. As a result of its fixed- amount the dollar-av- eraging program is inherently conservative since it forces investors to buy more shares when prices are low and fewer shares with prices are high. The service illustrates this point with the case of an in- vestor who buys 100 shares of a stock at each year-end re- gardless of price and another using the dollar-av- eraging who buys DOO worth of the same stock at the end of each year for five years. The stock is a volatile one which doubles for two con- secutive then declines by 50 per cent before advancing by 150 per cent. At the end of the five-year the first investor holds 500 shares at a cost of for an average cost of a while the one utilizing dollar averaging has pur- chased 490 shares for or an average price of Canadian Business Service says dollar averaging may not provide optimum portfolio performance since it ignores market but it is a device for building capital over extended periods. In such a if high- quality growth stqcks are held until either the capital is needed or a clear shift in fun- damental attraction necessi- tates their worthwhle capital appreciation can be expected. SUPERMARKET DEFICIT DETROIT Allied Supermarkets the United State's 12th largest food said it recorded a third- quarter loss of on 33 cents a share on sales of 2 compared with a profit of or eight cents a share during the period 'in 1973. Officials said the national truckers' strike and a walkout by Detroit warehousemen in January were partially responsible for the income setback. SELKIRK HOLDINGS LIMITED DIVIDEND NOTICE NOTICE IS HEREBY GIVEN that a quarterly dividend of ten cents p'er share has been declared on the outstanding Class non-voting shares without nominal or par value in the Capital Stock ol the Company payable on June 26. 1974 to holders ot Class shares of record at the close of business on June 14 1974 By Order of The Board F.T. W. NASH Secretary Toronto Ontario May 14 1974 HAIR Shaped the Way You Want it TOWNE HOUSE Men's Hairstyling 710A-3rd Ave. South Phone 328-2014 No appointment necessary across from Downtown awn 4 N PRIZES H. H. Smith Ltd. Customs Broker PliOM 328-8141 60M24-5458 COUTTS Office Phone 344-3822 CANADA GAMES LOTTERY Help Support Canadian Amateur Sports BUY YOUR TICKETS NOW or 2 year GUARANTEED SAVINGS CERTIFICATES Interest payable seml-annually or compounded to maturity. Member Canada Deposit Insurance Corporation Depositors can purchase Olympic coins FARMERS MERCHANTS TRUST 309 7th Street Lethbrldge Phone 328-5548 4-PLEX CLEAR TITLE This brand fully equipped revenue property includes exhaust shag in all rooms except hard and all electrical fixtures. Return on 4 week possession possible. BLADEN HOLDINGS LTD. Collect or to Box 49 Lethbrldge Herald SERVICE CLUBS BANKS CREDIT UNIONS LOCAL ORGANIZATIONS TRUST COMPANIES TREASURY BRANCHES iimimtii I975 ;