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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 28, 1971, Lethbridge, Alberta More stringent regulations ahead Expect auto pollution drop by '78 OTTAWA (CP) Auto pollu- tion by 1978 will be at least 60 per cent below 1966 levels if new transport department regu- lations work as expected. But tho department presumes the steady increase in the car population will require even more stringent regulations by then. Eventually, non-polluting source of car power will have to be found or society must drasti- cally alter its way of Ufe, says the department's Dr. Gordon Campbell. A director of ttra road and motor vehicle safety division, he commented in an interview on new auto pollution regulations announced Monday to cover new cars and light service vehi- cles. They are another In a series of amendments announced since Jan. 1 when the Motor Vehicle Safety Act took effect. The regulations require a two-thirds reduction of hydro- carbons lost by evaporation Public hearings opened into foreign ownership TORONTO (CP) The world's largest securities firm said today the United States government might react "ad- versely to Canadian limits on foreign ownership of companies that buy and sell stocks. Men-ill Lynch, Pierce, Fenner and Smith Inc., New York, which has'a Canadian subsidi- ary, also said such restrictions would not be in the public inter- est, and only Canadian stock- brokers would gain. The Toronto Stock Exchange and the Investment Dealers As- sociation of Canada disagreed. The arguments were in briefs presented to the Ontario Securi- ties Commission at the first of three scheduled public hearings aimed at finding answers to two major questions: foreign companies or individuals be allowed to control companies in Canada which buy and sell stocks and bonds and perform various financing func- tions? securities firms be allowed to be publicly owned? The Toronto exchange, tho largest in Canada with 110 member firms, and the Invest- ment Dealers Association in underwriting financing 'ar- rangements, answered "no" to both questions. BACKS EARLIER STUDIES The TSE brief adheres closely to recommendations in industry studies made since 1969 after Merrill Lynch bought Royal Se- curities Corp., a Canadian firm. The Toronto exchange agreed with a report by the IDA and the four major Canadian ex- changes that foreign firms oper- ating in Canada should be re- quired to increase Canadian control to at least 75 per cent during the next 15 years. The IDA brief answered di- rectly a report presented to the Quebec government earlier this year by Louis-Philippe Bou- chard, deputy minister of finan- cial institutions. The Bouchard report said the Quebec securi- ties industry should welcome foreign ownership and allow public ownership. VANCOUVER'S GASTOWN The drunks and derelicts ore still there but so are all the trappings of a thriving tourist section In Vancouver's revitalized Gastown. Now it comes complete with boutiques, fancy restaurants, bars ond even a riot or two. See the sights of Gastown this Saturday IN YOUR LETHBRIDGE HERALD WEEKEND MAGAZINE The IDA said it is questiona- ble whether the presence in Quebec of foreign firms will in- crease the underwriting capac- ity for Quebec securities. The IDA contends that a pub- licly-owned firm would be tempted to maintain regular profit levels to keep the price of its shares up and that such a policy might be detrimental to long-term interests. The TSE presented similar arguments on the issue of public ownership. UNDER LOCAL CONTROL Merrill Lynch said there is no doubt that the Canadian securi- ties industry now is locally con- trolled. "Our submission is that under the veneer of economic national- industry sponsored studies "have larded the for eign-ownership issue with anti- competitive and self-interest factors." "It would be imprudent to 'as- sume that the relevant govern- ment and regulatory agencies in the U.S. would not react ad- versely to enforced zation or expulsion of U.S.-con- trolletf securities firms in Can- ada." Bacbe and Co. Inc., a New York firm with branch offices in Canada, said restrictions in for- eign ownership would "unneces- sarily limit the willingness ol foreign-based firms to commit themselves to new ventures in the provinces." from automobile fuel tanks and carburetors, following up regu- lations that severely restrict hy- drocarbons in exhausts. Other regulations have climi- nated-on paper at least-the crankcase emissions onco seen as black wisps under almost all cars, new or old. MAKES DRIVKRS DROWSY The department has also re- duced by 60 to 70 per cent the amount of carbon monoxide emitted in exhausts. That gas has been shown to reduce the alertness of drivers on free- ways. These substances, plus some other less significant ones, have been blamed for 60 per cent of all air pollution en this conti- nent. But new regulations have already started cleaning up the no question about said Dr. Campbell. There are some snags. Oxides of nitrogen, which help to cause smog, have increased steadily with the growth of the automo- bile population and, ironically, with tlie use of devices to con- trol carbon monoxide. Consider- ation is being given to regular tions to control the oxides, he said. In the long run, much of the responsibility rests on the shoul- ders of the auotmobile owner. He has an obligation to main- tain the mechanical condition of his car in accordance with the manufacturers specifications, Dr. Campbell said. Without such maintenance, pollution control devices soon become useless. He said there will come a time when either a pollution- free engine will have to be de- veloped or when society mil have to give up its automobiles. Cities could be changed from low- to high-density centres. People then would have little distance to travel on a day-to- day basis, and urban transit systems could be financially workable. But a federal study on hous- ing a few years ago indicated that Canadians prefer to live in their own individual dwelling complete with yard. For Black Label we blend and brew only the finest ingredients...with patience...with care...to bring out all their flavour. Then we give the brew more time in our cool, quiet cellars so that Black Label slowly matures to perfection. If you like a beer with flavour, try a Black Label ...enjoy the full flavour that is conquering thirsts all over the world. Carling Black Label- sold and enjoyed in over 60 countries around the globe. THE CARUNG BREWERIES (A16ERTA) LIMITED SCIENTIST DIES Scien- tist Mikhail K. Yangcl, the man believed to be the head of the Soviet space program, has died of a heart attack. Population grows COALDALE (HNS) The of- ficial population of the town is according to the 1971 Cen- sus of Canada taken June 1. Last year it was accord- ing to a local survey. Council has accepted the rec- ommendation of the police com mission from Jubilee Motor: for a new police car. The price was including the trade- in. The new car is a 1972 Chev- rolet. The present one is a 1970 model. _____________________Thunday, October It, 1971 THE LETHBRIDGE HERALD 15 Trick., treat date tricky Officials bewitched, bewildered By THE CANADIAN PRESS The trick for children in some Canadian communities this Halloween will be decid- ing which night they will go out to solicit their treats. Police and municipal offi- cials have been bewitched, bothered and bewildered by something which occurs only once every several years- Halloween falling on a Sun- day. The last time this occurred was in 1965. Many cities, inculdlng Leth- bridge, have declared Satur- day as Halloween and in- structed their young residents to trick and treat then. Others have set Sunday for the annual door-to-door chil- dren's crusade. And a few cities have de- cided Halloween is not impor- tant enough for an official rul- ing and children should either take their pick of days or stay home. A police spokesman in the Montreal suburb of St. Lam- bert said: "We just hope everyone forgets about it." WANTS KIDS HOME In Victoria, Police Chief Jack Gregory said he wants children to stay home on both nights as it is "a good way to stay out of trouble." A survey by The Canadian Press shows that Halloween will be observed Saturday in Prince Edward Island, New- foundland, Nova Scotia, New Brunswick, Manitoba, Saskat- chewan and Alberta. In the other three provinces, not all cities are in agree- ment. Mount Royal, a Montreal suburb, has chosen Sunday. In Ontario, Sarnia, Ottawa. Thunder Bay and Toronto will observe Halloween Saturday, but Windsor and Sudbury have selected Sunday. In the Vancouver area, six of 11 municipalities say Satur- day will he Halloween, two say Sunday, two are unde- cided and one municipality says it expects trick-or-trea- tcrs on both nights. Canada Trust reduces rate LONDON, Ont. (CP) Can- ada Trust announced Wednes- day an immediate reduction to 9V4 per cent from 9% per cent in its conventional and NHA Mortgage rate. The move followed two reduc- tions in the prime rate by chart- ered banks, which usually sig- nals the trend for other interest rates. Canada Trust reduced the rate it pays on savings to 4'4 per cent from five per cent, and on chequing accounts to 314 per cent from per cent. These are effective Nov. 1. QUALITY DENTURE CLINIC EDDY DIETRICH Certified Dental Mechanic Capilol Furniture Bldg. UPHONE 328-7684M WHY LEASE A CAR? Without tying up capital you get a brand new car (or 100 new ears) Your lease includes license plates and Your lease can include all mairienance costs You make no down payment just ONE monthly fee Wa can taylor a plan fo suit YOUR needi CONTACT BORIS KORESHENKOV BENY AUTOMOTIVE ENTERPRISES LTD. 2nd AVE and 8th STREET S. PHONE 327-3147 Flexible three cycle washing selection offers normal cycle, durable press cycle and the prewash soak cycle, offering maximum flexibility, skip, repeat or shorten any part of any cycle Full choice of water temperatures, spin and agitator actions The dependable Arc-Cuale 210 transmission, cut from high grade steel to give a stroki to tha agitator, washes Fluid drive, exclusive Speed Queen feature, eliminates damaging starting shocks on mechanism Polypropylene agitator Nickel stainless steel tub, the best quality tub anywhere in the laundry world. Rust proof, corrosion proof, chip proof, highly polished surface comes complete with lifetime warranty 10 years flnjWnsmissjoJt 5 years ori THE UNBEATABLE PAIR NOW ON SALE FOR 559 .95 SPEED QUEEN Open Monday and Tueiday 9 a.m. lo 6 p.m.; Wedneiday 9 a.m. to I p.m. Thursday and Friday 9 o.m. to 9 p.m.; Saturday 9 a.m. to 6 p.m. College Shopping Mall 2025 Mayor Magrath Drive ;