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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 15, 1972, Lethbridge, Alberta 50 THE IETNBRIDGE HERALD Wednesday, November 15, 1972 WHAT ABOUT THE PEOPLE? An Eskimo mother sits with her children outside her home in settlement in the Mackenzie Delta. Although a massive effort is being made 1o protect the northern ecology from being harm- ed by proposed highway and gas pipeline, local people are worried about the effect of the developments on the way of life of the native peoples. SIMPSONS bears 11.98 Blazer 9.98 Vest 4.98 Coordinate... It's Fun! Great little rr.overs Dn a modern track... mix 'n1 match plains 'n1 plaids, all sold separately so you can pull together your own fantastic looks! Wavy solids are of warp-knit polyester. Plaids, predominantly red or navy, are of woven acrylic. All are machine-washable. CSSt 8 to 14. Not shown: Low-rise cuffed plaid pants 9.98 Plain skirt 6.98 tCanada Standard Sizes Glrli' Wtar Quality Cosls No More at Simpsons-Scars STORE HOURS: Daily 9 n.m. lo p.m. Thimdny and Fridtiy 9 a.m. lo 9 p.m. Conlro Villogo. 328-9231. FUTURE IS BRIGHT At 39, he already heads a bank TORONTO (CP) The fu- lurc of Canada's banking sys- tem is bright, at least as far as Richard M. Thomson is concerned. At 39, Mr. Thomson has be- come the youngest president of Canada's nine chartered banks when he was appointed head of Toronto 'Dominion Bank. He sees the transformation in (he banking system as "really reflecting the changes In society." Where banking was at one time considered a job for per- sons not able to attend univer- sity, today's banker must be highly trained. "Today the banks are draw- ing personnel from the univer- sities and community col- the youthful executive said in an interview. As Mr. Thomson sees it, a major change on the banking scene is the growth in interna- tional activities by Canadian chartered banks. "The international side now is representing about a third of Toronto Dominion's total he said. "A decade ago, the proportion was insig- nificant." Bass player dies after accident MACON, Ga. (Reuter) Barry Oakley, 24-year-old bass player of the Allman Brothers rock group, has died after his motorcycle was involved in what at first appeared to be a minor accident. Police said Oakley's mo- torcycle struck the side of a city bus in Macon, but he refus- ed treatment at the scene for his injuries, and returned home in a friend's car. Mr. Thomson even predicts that Toronto Dominion may soon identify its Toronto head- quarters as its "world head office." Other significant changes cited by Mr. Thomson include the large growth in consumer lending, the Introduction of the bank credit card, compu- terization of chequing ac- counts and growth in the mortgage field. The Chargex credit card has become almost a house- hold term since it was adopted several years ago by Toronto Dominion and three other chartered banks. Mr. Thomson said he be- lieves it will be the only bank credit card to survive and that all other banks will adopt it. The Canadian banking sys- tem held many advantages over that in the United States where there were numerous small, Independently-owned banks. HELP RURAL AREAS "Our banks can marshal their coast-to-coast resources to help rural areas without the risks loca.1 banks would have to he said. "Critics say our decisions are centralized In Toronto and Montreal, but as we have be- come larger we have decen- tralized by setting up regional offices." The banks have been In- creasingly active in residen- tial mortgage financing and Toronto Dominion expects to play a substantially larger role In the commercial mort- gage field through its recent- ly-formed TD Realty Invest- ments, a pioneering venture in Canada in real estate in- vestment trusts. Mr. Thomson himself has degrees in engineering and business administration. He and his father reflect the old and new directions In the banking system. R. M. Thompson Harold W. Thomson made it to the top without the benefit of university degrees after joining the old Imperial Bank at Fort Qu'Appelle, Sask., as a junior. He retired in 1971 as vice-chairman of the Cana- dian Imperial Bank of Com- merce and then was named chairman of the Toronto Har- bor Commission. The young Mr. Thomson was inclined at first to follow his engineering career until he "saw that banks were starting to hire people with more education than was re- quired in the "Previously I hadn't thought much about banking, but then I realized that my father had found it very excit- ing and rewarding." Heading for Winter Br-r-r weather. But you can tell Jack Frost- to get lost this Come see our "go-to-your- head1 collection for eporty and dress-up occasions. lots of colors. Shorn are only 6 of a great assortmenti Natural or dyed lamb, raccodnj fox and lynx flanka. 12.00 to 30.00 Warm knits in classic or new youthful styles. Some have scarves, mitts to match.- ,2.oo io 300.0 Fake furs and otner fabrics. 4.00 io 13.00 3.00 to 8.00 Quality Costs No More at Simpsons-Scars STORE HOURS: Opon Dally 9 a.m. to p.m. Thunday and Friday 9 a.m. lo 9 p.m. Centra Vlllaaa. Tolophana 328-9211. ;