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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 21, 1974, Lethbridge, Alberta May 1074 THE LETHBHI0UC Credit unions headed for 'real trouble9 CALGARY Any fur- ther increase in bank lending rates would put credit unions in real Robert general manager of the National Association of Canadian Credit Since the Bank of Canada raised its interest rate this month and chartered banks set prime lending rate at 11 per the squeeze is on the credit he said. In most credit unions can legally charge a maximum of 12 per cent on he said in an interview during the association's annual meeting'. The exceptions are British Columbia and Nova Scotia. Now that credit unions must borrow at 11 per most have only a one-per-cent mar- gin to cover administration costs. Except for very large credit a two-to three- per-cent margin between bor- rowing and lending rates is needed to cover administration he said. This means credit unions face a serious cutback in he said. Mr. Ingram said the alternative is to seek a lifting of the 12-per-cent maximum on loans but that also leads to problems. Even in provinces where there is this once rates go higher than 12 per the deal comes under the Small Loans Act for loans un- der and the credit unions prefer to stay away from the small loans legislation which would put them under both provincial and federal regulation. The association is the central organization for provincial credit union associations. There are more than 6.5 million members in credit unions across Canada. The members hold approximately billion in savings. The National Credit Union Association and the Canadian Cooperative Credit which were to meet during the are in the'process of merging into one although the merger is not expected to take place for another year because of legislative changes which must be made. Lamoureux hard act to follow Acrylic Latex Exterior Fl Oz. Litres' By PETER LLOYD OTTAWA Speaker Lucien Lamoureux will not be in the chair when the Commons meets after the July 8 but his spirit may still rule the House. Following his announcement Friday that he is retiring from spokesmen for the three major parties expressed hope that the independent char- acter of Mr. Lamoureux's term will continue in the next Parliament. Mr. Speaker for more than eight holds the record tenure in that post His performance has been characterized by MPs of all political hues as fair and with his rulings often tempered by a delicate humorous touch First elected in the eastern Ontario riding of Stormont- Dundas as a Liberal in Mr. Lamoureux ran as an Independent in the 1968 and 1972 general elections. The dropping of party affiliation illustrated the non- partisan nature of hfs a characteristic that is expected to continue under his successor. Robert McCleave deputy Speaker since Jan. said in an interview from Halifax that Mr. Lamoureux the greatest Speaker of our time set up just about every- thing that would constitute practice from now on in the House Stanley New Democrat House said Mr. Lamoureux established independence from political pressures as the eighth he has seen in his lengthy Commons career. This independence should be continued by making Mr. McCleave the next Speaker if he wins re-election on July Mr. Knowles said. move him up would in- dicate that everyone wants an independent This sort of continuity would be almost the same as a per- manent an institution Mr. Knowles said otherwise could be achieved only constitutional change. The 53-year-old Mr. Lamou- reux will be missed whoever his successor the veteran NDP member said. Mr. McCleave said he would be glad to become the next Speaker if the post was offered to I'm not going to ask for He agreed with Mr. Knowles once an MP is appointed he should run for election as an independent. All parties should agree not to oppose an incumbent Speaker during Mr. McCleave said. A Liberal spokesman said he agrees with this long as the Speaker has proven his effectiveness and his hope this will continue thp LUCIEN LAMOUREUX In the 1968 general Mr Lamoureux was opposed by an NDP candidate while in 1972 he faced both NDP and Conservative opponents. The Speaker is elected by the usually on the nomination of the prime minister who generally considers candidates acceptable to all parties before moving the appointment. A fluently bilingual native of Mr. Lamoureux's credentials as a potential Speaker were well established when he took over the job on Jan. 1966. Before working as a lawyer in from 1954 to he served nine years as executive assistant to Lionel then transport minister in the Liberal governments of Mackenzie King and Louis St. Laurent. His non-partisan nature was established soon after his election to the Commons in 1962. He attended only two Liberal caucuses before withdrawing to become deputy Speaker under Alan MacNaughton. Mr. Lamoureux's announce- ment that he is retiring from politics came as no surprise. Last on the eve of setting the record as the longest Speaker in the he revealed that both he and his wife felt he had made his contribution to Parliament. Saying he felt tired but grat- ified after eight years of pre- siding over the Mr. Lamgureux admitted he not be adverse to looking for another field of Waffle to run TORONTO The On- tario Waffle party announced here it plans to run up to four candidates in the next federal its first candidates since it split from the New Democratic Party in 1972. The break came after the Waffle group proposed large-scale public ownership of Canada's resource and key manufacturing industries. Use Mastercharge Handy Beaver Budget BEAVER ACRYLIC LATEX EXTERIOR PAINT Applies easily with brush or roller Dries quickly to blister-resistant low sheen. Equipment cleans with soap and water. Covers 400 to 650 sq. ft. per gallon Wide color range. QT. 097 V GAL. ................319 BEAVER PREMIUM LATEX EXTERIOR PAINT Dries quickly to a hard flat sheen Applies easily with roller or brush. Tools wash clean with soap and water. Prevents blis- peeling. Wide color range BEAVER ALKYD EXTERIOR PAINT Flows on smoothly and dries to a durable gloss Alkyd base stands up to the extremes of Canadian climates Choose from an extensive color selection. 097 W GAL. 119 QT. BEAVER PREMIUM ALKYD WHITE EXTERIOR PAINT Super White alkyd paint for all types of exterior woodwork. 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Angle-cut bristles for painting edges Long wood handle 24 Vi INCH 1 1 I W 1 INCH I INCH Beaver Brand Nylon Brushes suited for latex paints. Economically priced 134 169 983 I 2 INCH Nylon bristle brushes soecially suited for latex paints. Easy to clean Has hardwood handle. Economically priced Beaver Deluxe Bristle Brushes pure natural bristle is just the right thing for all oil-base paints. With hardwood handle. INCH 174 9 I 2 INCH b 39 3 INCH 4 23 Store a.m. to p.m. Mpn. to Fri. a.m. to p.m. Saturday 1707-3rd Ave. 328-4461 Alberta the do-it-yourself store ;