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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 2, 1972, Lethbridge, Alberta Monday, Oclobor 2, THE IETHBS1DGE HERAID House building ;s record rate A MIXTURE According lo Ihe long-range forecast issued by the United States weather bureau, British Col- umbia, Ontario and Quebec will have near normal temp- eratures for the next month, it will be below normal on the Prairies and above normal in the Atlantic Provinces. Precipitation will be moderate in the west and the Mori- limes ond heavy in Ontario and Quebec. This is not a specific forecast ano" changes may occur. i SIX FRQBL1 Sorry we can't help you, but for all of your spor! equipment we ore specialists. Doug's Sports, 404 5th Si. S-, Lethbridge. By HIVING C. VVIIYNOT Canadian Press Business Edi- tor Mousing starts arc running at a record rate in Canada ISiis hvit there already is specu- ation that they may flatten out luring 1073. 1C that happens, it means that he number of new housing units available may fall teliind he annual DILI put needed lo meet the demand expected to mild up during the next five ?cars. Housing starts failed to meet he target for the five years ended 1971 ar.d there are ques- .ions that the industry can meet the requirements now seen for (ho next five years. Ths Housing and Urban De- velopment Association of Can- ada says starts this year are running more than 12 per cent ahead of of 1971. This in- dicates a total tor the year of nhout units, a year ago. up from But for the future, an associ- ation research study sees some troublesome signs. These in- cluded manpower shortages in some areas, some material shortages, lack of serviced land, and the rising cost of land development. "The long period of two to three years now required to de- velop raw land and convert it into serviced building lots means that demand must bo anticipated long in advance of sales." the association says, "The land development proc- ess has become so complex, so time-consuming and so costly that a severe shortage is devel- oping hi most urban centres. The rising cost of land reflects these delays." The long-term housing de- mand is forecast in a Toronto Dominion Bank study as in ex- cess of 1.25 million units during Ihe five years to 1976. That means an averge of 230.00G completions a yenr, which o7es One of Western Canada's largesl full line dealer- ships urgently requires dynamic Individuals, sales ex- perience helpful but not essential. This applicalion will interest the sates person who is not satisfied with his presenh position. We are a 400 la 500 new car operation In excellenf facilities ond train you on the job. Above average earning potential ond full Co. benefits. Apply Box 89 Lethbridge Herald energy worries Kierans translates into about starts a year. This will require a capital in- vestment of about billion, compared about billion in the previous five years. "With reasonable government the bank says, "Iho years lo 1976 should witness a substantial increase in the stock of housing available to Canadians, and such grov.lh also emphasizes the need for large sums of mortgage money." "The projected housing needs v.ill, we feel, be met by Can- ada's builders and mortgage in titutions." Others see problems in meet- ing these targets. J. E. Toten, vice-president or planning and economic1; of he Bank of Montreal, says lousing activity seems likely to latteii out in 1973. The Toronto Dominion study also sees some problems for 973. "With business capital spend- ng rising strongly nest year and with unemployment rates on the decline, monetary policy might be expected to b-3 some- what less accommodative. "On this premise, new morl- ;age hence be expected to de- cline somewhat in 1973." TOI10NTO (CP) Former Ubcral cabinet minister Eric Kierans predicted here that ,he price of energy in Ontario will double by 1930 under srescnt national energy pol- icies. Speaking during a panel dis- cussion at York University, Mr. Kicrans said there is "a mad rush'1 to develop Hie Arctic. Mr. Kierans resigned from (he federal cabinet in dis- agreement over policy. "Consumers Gas in Toronto knows this when they ask for more natural gas from Alberta, hut the price is not going to stay low here when the U.S. markets arc ready to buy at higher and higher rates in the he said. He said the U.S. has ade- quate supplies of oil and gas but to import Canadian supplies to preserve its domes- tic supplies "for security rea- sons." Another speaker at luc York University conference, Daniel Sprague, said large pools o! capital in Canada arc held back from new Canadian develop- ment because of timid money managers. Mr. Sprague, president of ths Canadian Manufacturers' Asso- ciation, noted that many Cana- dians predict Canada may have trouble mobilizing capital for such tilings as the Ar- ctic gas pipeline. "There is a great deal of cap- ital here in Canada that cao and should be unlocked by the large, private institutional fund- he said. Police seek Bunker Ti i TORONTO (CP1 Some- one out there loves Archie Bunker. Police reported today that someone broke into Ihe Collegiate Advertising of- fices in Toronto and made off with 700 Archie Bunker T-shirts a total of JORDAN CRACKLING ROSE Its. light-hearted taste has made "it Canada's largest-seller k. Siiy some today for lonile Engineers seek change OTTAWA (CP) The Cana- j tlian Council of Professional Engineers, claiming a surplus in their profession, have asked for a change in Canada's immi- gration policy. In a brief submitted to Man- power Ministry Bryce Mack- apcy. the council says entry should be denied to qualified professionals, except on human- itarian grounds, when unem- ployment is high here in. their fields, The council says a recent i survey indicates a surplus of j engineers in several fields and lhat "t is generally felt that Canada is producing sufficient engineers to meet demand. your October 9 is Grandmothers' Day Send your love and thanks. We can arrange it. See your local florist now. START HING GOOD fODAY Slart something good today wilh Canada Savings Bonds! They're the go-ahead way lo save for the future without worry. Canada Savings Bonds are safe. They're backed by all the resources of Canada and they pay good interest year after year. New Canada Savings Bonds yield an average or 7.30% a year when held lo maturity. Each bond begins with interest for the first yeor, pays interest for the second year, pays interest for each of the next four years, and then pays interest for each of the lost six years. On top oi this you can earn interest on your interest and make each grow to in just 12 years. Canacto Savings Bonds are instant cash. They can be redeemed anytime ot your bank at their full face value plus earned interest. Canada Savings Bonds are easy lo buy. They're available in amounts ranging from up lo a limil of con buy them in three different ways: lal for cash where you work, bank or invest Ib) on instalments through the Payroll Savings Plan where you work (c) or on instalments through ihe Monthly Savings Plan where you bank or invest. Go ahead! Start something good today! Buy Canada Savings Bonds. AVERAGE ANNUM IKTEREST TO MAUJRITY ;