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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 22, 1974, Lethbridge, Alberta 14 THE LETHBRIDGE HERALD Friday, November 22, 1974 AHC judicial inquiry ends EDMONTON (CP) A judicial inquiry into the Alberta Housing Corp. (AHC) was ended Thursday alter commission counsel Rod McLennan told about his efforts to gain further information in Europe. Mr. McLennan said he met with Robert C. Mitchell, former president of Chrysler Europe, but was unable to persuade Mr. Mitchell to give sworn testimony about a 2 million loan the ACH obtained in 1969 from a German bank. The inquiry has been told the interest on the loan was unreasonably high and that nine per cent of the 2 million a commission went to in- dividuals involved in acquisition of the loan. Mr McLennan said Mr. Mitchell acknowledged that he received of the but split the fee with a Mr Spitzer, chief loans officer at the Hessische Landesbank. Mr. Mitchell said Mr. Spitzer and he agreed on the nine per cent discount as the amount the transaction would stand, said the commission counsel. However. Mr. McLennan asked a German Lawyer to attempt to locate Mr Spitzer and found out there was no such animal ever employed by the bank. The inquiry has heard evidence that the AHC receiv- ed its loan from the Mam Bontal bank in Frankfurt, Germany, and Mr. McLennan said he asked Mr. Mitchell how the Hessische Landesbank fit in. Mr. Mitchell said he didn't know but he thought the Hessische bank had filled its quota for international loans and could only make the money available through refinancing by another bank. Mr McLennan said he received contradictory testimony about the loan during another meeting with Horst Eggert, manager of the Main Bontal bank at the time the loan was made The commission counsel said he was unable to locate Mr Eggert until he threatened to advise the AHC to cease interest payments on the loan. Mr Eggert was astonished at testimony given by a Canadian broker at the inquiry, said Mr. McLennan. The broker, Victor Farkas of Montreal, indicated Mr. Mitchell arranged the loan with Mr. Eggert. But Mr. Eggert said he knew no Mitchell and that his only dealings were with Mr. Farkas, said Mr. McLen- nan. Mr. Eggert also said the Main Bontal bank received of the fee, and that Mr. Farkas was the individual who insisted on the additional commission of Mr. Farkas has testified that the was split between himself, an aide, Mr. Mitchell, the mayor of Drumheller, Alta., and another real estate broker. Mr. McLennan said he asked Mr. Eggert about a letter to the AHC saying that the commission covered legal fees, underwriting, dispersements and bank expenses. There were no legal fees or underwriting expenses, said Mr McLennan. He said Mr. Eggert could not respond except to say that the claims were not made to facilitate any fraud. Mr. McLennan said he learned that the Main Bontal bank received the loan from the Hessische Landesbank with a mark up of 3-8 per cent interest. The 3-8 per cent was assigned to a trust company associated with the Main Bontal bank, and Mr. Eggert resigned from the bank to become head of the trust company, said Mr. McLennan. Mr. Eggert was also asked why he came all the way to Edmonton simply to receive an assignment of the AHC loan signed by the Alberta deputy treasurer. He answered that it seemed like a good idea at the time, said Mr McLennan. The commission counsel said he saw a letter in Mr. Eggert's files from Victor Farkas, stating that negotiations for a second AHC loan were under way and arrangements for the loan would be much easier now that we have a formula Mr. Eggert said Bob Orysiuk, former director of the AHC, telephoned in 1970 to ask if further funds were available but they were not. SAEEWAT SPECIAL F-IIU SAFEWAT SPECIAl .MICE FRUIT JUICE LALANI. Unsweetened Pineapple Hiwillin. oz. tin GREEN PEAS TOWN HOUSE. Assorted Cinidi Fancy. 14 fl. oz. (In MANDARINS TOWN HOUSE. Orange Sections, 10 fl. oz. WHITE TUNA SEA TRADER, Solid, oz. net wt. tin R W W KIDNEY BEANS TASTE TELLS, Light Red. 14 fl. oz. tin W R W The LARGEST ASSORTMENT of imported styles in LETHBRIDGE Inaccuracies in minutes STONY PLAIN (CP) Dr Viljoen Kritzinger told a public inquiry into the opera- tion of Stony Plain Municipal Hospital Thursday that there were inaccuracies in minutes of a medical staff meeting BUILD THESE BEAUTIFUL CLOCKS Now at BIG SAVINGS! Sena just SI 50 for plans and instructions to build choice of a) Grandfather or b) Gramimotner or c) Steeple or d) Upper Canada School clock, plus mfoma ticn packed catalogue of movements, dials, parts and kits io build these and U other clocks Al Catalogs alone 25c COLONIAL TIMES CLOCK COMPANY Dept 500 Weber St N Waterloo, Ont N2J 3Z6 recorded earlier this year. Dr. Kritzinger testified that when he received minutes of the Feb. 4 medical staff meeting in March he realized the minutes did not jive with what happened. He told the inquiry, in its llth day, that his objections included a quote in the February minutes that Dr. Kritzinger used his position as chairman to browbeat and force his will on others. Dr. Kritzinger, former medical chief of staff at the hospital, said he also took ex- ception to another paragraph in the February minutes. He said the paragraph referred to a January meeting and said the medical staff felt Dr Kritzinger had attempted to suppress discussion about re- cent anesthetic deaths at the hospital. Dr. Kritzinger said he ob- jected to the discussion at the medical staff meeting because the College of Physicians and Surgeons was already looking into the deaths. Volcano buries 30 JAKARTA (Reuter) Thirty persons were buried alive last week in a sudden eruption on the slopes of the dormant volcano Mount Argapura in East Java. SAFEWAT SPECIAl PIKE SAFEWAY SPEC1AI PIICE SAFEWAT SPECIAL PIICE SAFEWAT SPECIAL PIICE SAfEWAT SPECIAL PIICE JELLY POWDER EMPRESS. Assorted Flavours, 6 oz. net wt. pkg.................................W R SALAD DRESSING flQC PIEDMONT. 32 fl. oz. jar.......................................................W GROUND COFFEE 119 SAFEWAY. Regular. 11b. pkg...................................................... CHIP DIPS LUCERNE, Party Assorted Flavours, 8 oz. net wt. carton ..........................eWi W CHEESE WHIZ Kraft process spread. 1 ib. net wt. jar COMING TO WOOLCO: TUESDAY AND WEDNESDAY NOVEMBER 19th and 20th A.M. to P.M. Thursday and Friday November 21st 22nd A.M. to P.M. Saturday November 23rd A.M. to P.M. 63Ch A Beautiful 8" x 10 Portrait in Natural Color Your child's portrait photo- graphed with professional Kodacolor film. Choose from finished portraits, no proofs. Limit: One special offer per person. Two per family. No Obligation to buy additional portraits. Extra prints available at reasonable prices. Families, adults, babies and children. Groups taken at .89 each additional person. SAFEWAT SPEdAl .PIICE SMOKED SHOULDER fiQC RANCHBRAND. Picnic Style Pork Ib. V W PORK CHOPS FRESH FAMILY PAK. Government Inspected Ib 09 SAFEWAT sncuu PttCt SAfEWAT SPECIAl ptia SAFrWAT SPEC1A1 PtICE 1 SHORT RIBS 7QC CANADA GRADE A BEEF.................................................... Ib. i W 109 135 CHICKEN PORTIONS Manor House, frozen thighs and drumsticks SIDE DACON Swifts Premium or Lazy Maple Rindless. 11b. vacuum pkg. College Shopping Mall 2025 Mayor Magralh Drive Monday, Tuesday Wednesday a.m. to p.m. Thursday Friday a.m. to p.m. Saturday a.m. to p.m. We reserve the right to limit quantities. en WITH rama SATISFACTION GUARANTEED VALUES EFFECTIVE in Lethbridge, November 22 to SALES IN RETAIL QUANTITY ONLY! Copyright 1960, Canada Safeway Limited ;