Lethbridge Herald, The (Newspaper) - May 19, 1970, Lethbridge, Alberta
Tuesday, May 19, 1970 THE IETHBRIDGE HERALD 9 Government Bill Introduction Expected Soon Businessmen Awaiting Word On Details Of Consumer Credit Controls ___ YT _r Iw, in n't nnniil'ilinn :im! tllP IlrlVfi GXUGl'itMlCCd C3H blJ tO slllfl financing 03 By HIVING C. W1IYNOT Canadian Press Business Editor Canadian business is anx- iously awaiting word from the government on the details or its proposed consumer credit con- trols. The March budget announced the government's intention of imposing such controls as a fur- ther' damper on the economy as part of the fight against infla- tion. Introduction of the bill likely will come soon, although some business groups still argue that the longer the government waits the less the measure is needed. The Retail Council of Canada opposed the idea from the start, saying that consumer credit controls are unlikely "to have a useful effect." The council says in its recent newsletter that it is continuing to fight the principle, but also is meeting with the finance de- partment to discuss the design of the controls. CLAIMS SOME SUCCESS The council says it has had some success in "deterring the government from moving ahead with a form of control which would had a most awk- ward and disruptive effect on retail credit business." "If, in fact, the controls are the council says, "the efforts of our delegation seem to ensure that they will cause as little disruption as pos- sible, from the point of view o' the retailer administerinj them." The council's earlier officia opposition to the scheme saic that consumer demand is sof tening. It asked the govemmen to watch this situation in cas developments wiped out th need for controls. The controls suggested by Fi nance Minister Benson in hi budget would set minimum down payments on major pur chases and limit repayment pe nods. Another group expressing i. servations about the effective- ness of this sort of control i composed of those in the financ ing field. WOULD BE 'INEFFECTIVE The Canadian Consumer Credit Factbook, just publishe by the Canadian Consume Loan Association and the Feder ated Council of Sales Finance Companies, says the type of controls proposed by Mr. Ben- sou would be "ineffective under Water Re-Cycling System Strips Out Sewage TORONTO (CP) Experi- ments now under way at the Ontario Research Foundation could mean cottagers soon may be drinking their own and liking it better than city tap water. The experiments in re-cycling water are sponsored by the Cen- Big Airlines In The Red OTTAWA (CP) Canada's seven major airlines made a profit of in March, but were stfll running at a loss of for the first three months of this year, the avia- tion statistics centre reported today. Operating revenue for March was and expenses In March, 1969, the airlines showed a balance of in revenue over ex- penses. Air Canada figures for March were: Revenue ex- penses CP Air reve- nue expenses The five regional Eastern Provincial Airways, Nordair, Pacific Western Air- lines, Quecair .and Transair- showed combined operating rev- enues of and operat- ing expenses of FIVE PASSES EDMONTON (CP) The Al- berta section of the Rocky Mountains has only five practic- able passes, says the 1970 report of the industry and tourism de- partment. The lowest, Yellow- head, is feet and the high- est, Vermilto, is feet. The others are Crowsnest, Howse and Kicking Horse. ART DIETRICH DENTURE CLINIC Certified Dental Mechanic Metropolitan llda. 328-4095 tral Mortgage and Housin Corp. in an attempt to produc a system of water supply an sewage treatment for develop ments in unservked areas of u to persons. The scientists now can tur sewage, by a'process called os mosis, into water so pure tastes flat. Dr. Fred Besik, researc chemical engineer, said in a interview a house or cottage- sized re-cycling system woul be about the size of two furnaces. It could strip out bacteria an other sewage particles, a smal easily-disposable quantity, an re-cycle the water for use agair and again. Larger units would be use for major developments, Di Besik said. They would includ an incinerator for the residu which, as a by-product, woul provide the energy for ho water. "The economics look said. "The price of domesti watef ,is about 30 to 50 cents per gallons. Using the im proved system might bring the operation to about per gallo but it would be improve water." Calgary Boy, 14 Falls 150 Feet INVERMERE, B.C. (CP) One Calgary boy suffered a bro- ken leg in a 150-foot fall ant another escaped unharmec the two slipped while hiking along the edge of Sinclair Can yon near. here. Stephen Earle, 15, suffered th< fracture when he fell down the canyon bank into Sinclair Creek. Grant Christie, 14, had his fall stopped when his coa caught on a protruding rock a the top of the bank. A third boy who was hikinj with the two went for help ant Stephen was rescued by RCMP He was in good condition in Cal gary hospital. Sinclair Canyon Is in Koot- enay National Park. good for more at Beneficial even as much as Clean up everything your left-over bills, oilier loans, time-payment accounts, financing plans-1-with cash from Beneficial. Ask for the full amount you have in mind. No matter where you may be borrowing or had a loan before, call Beneficial... Loans up to loan can be life-insured 42 month contracts on loans over J1500 CORNER 4TH AVE. 6TH ST., LETHBRIDGE (Woolworth Bldg.) 327-8565 OPEN EVENINGS BY APPOINTMENT FOR HOURS present circumstances because of the rapid growth and domi- nance of other credit suppliers." Professor W. R. Waters of University of Toronto says in an introduction to the book: "Given the changes that have occurred in the age distribution of Canada's population and the increases in household incomes since. 1945, the rapid increase in the use of consumer credit that we nave experienced can Im viewed as a healthy sign. "It is an indication that our economic system has been able to slilfl financing capabilities to the household sector in keeping with that sector's saving and borrowing preferences.1 New for Lethbridge a modern self-serve Home and Farm Improve- ment Store! square feet of quality brand name merchan- dise on display. Shop this week for May Sale prices effective until Saturday, May 23rd. Cilux Regular Exterior Oil-base House Paint Covers in one coat and comes in hundreds of colors thai resist checking, blistering or cracking. Adds gloss, beauty and pro- lection to all exterior surfaces. Non fad- ing. Keeps your home looking clean, bright and freshly painted for years. 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