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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 5, 1974, Lethbridge, Alberta Thursday, September 5, 1974 THE LETHBRIDGE HERALD -27 Injection of German money bolsters Italian economy LONDON (CP) The Italian economy, sinking into worsening financial malaise, has received a desperately-needed injection of cash from affluent West Germany to sustain it through the next few months. In addition to the current billion loan, West Germany also favors a three-month ex- tension of a European Common Market loan to Italy of roughly billion due to expire Sept. 12, a measure now likely to be accepted. As a further offer of aid, Bonn also supports another Common Market medium- term loan of about billion to Italy, a move which meets stiff resistance from Britain and several other member countries who fear Italy simp- ly cannot support such huge indebtedness. The question being asked in international circles is what happens when the loans run out? Answers range from the stark but unlikely prediction of bankruptcy to disturbing but less drastic forecasts of a major depression. There seems little doubt the current loan will see the Italians through the next three or four months, both by discouraging further capital outflows and by helping to fi- nance the country's huge trade gap, expected to reach billion this year. But it dops little to solve un- derlying difficulties besetting the weak Italian economy, problems made worse by a chronic instability of government, torn betwe'en forces of the right and left and faced with a growing public distrust of all politicians. Italy's economy has suf- fered badly this year from the increase in oil prices, par- ticularly since it has no energy reserves of its own to soften the blow. Roughly half the trade deficit is estimated to be the result of the oil crisis. But even without this, the country would still be in desperate trouble and in a frantic search for foreign loans. Its credit rating has been slipping badly and it dropped even further recently when United States bank examiners were ordered to look on loans to Italy as "problematical." The Italians, like the British, are suffering severely, from a .dash for growth which misfired badly. It has been followed by a payments crisis, stagnation and rampant infla- tion which reached an annual rate of 19.3 per cent in Italy in July. While it lasted, the Italian boom broke records, produc- ing between 1972 and 1973 a real annual growth rate of 5.5 per cent. Land prices soared and in the first six months of 1973, the average price of shares on the Milan stock ex- change was up by 50 per cent. EXPORTS LAGGED In fact, everything was growing except the key elements of exports and investment by businesses, Young mother offers to 'give back9 baptism 120 C North Mayor Magrath Drive Harumi Fuijita SUBWAY REALTY is pleased to announce the appointment of Harumi Fuijita as Sales Rep- resentative He invites his many friends and customers to call on him in regards to any Real Estate needs NEW YORK (AP) A young mother proposed Wednesday to "give back" the baptism of her infant son to win reinstatement in the Jesuit order of the priest who performed the rite. "He put his whole position at Carol Morreale said of the priest, Rev. Joseph O'Rourke, reported dismissed from the Jesuits for perform- ing the controversial baptism two weeks ago. He took the action after the child was refused baptism by Boston priests and the pastor of the parents' home parish in a Boston suburb because the mother supports free choice Old 75 cats destroyed EAST HARTFORD, Conn. (API An elderly bachelor's 75 cats were destroyed by the Connecticut Humane Society Wednesday and Walter Bachman, 75, said "I'd ques- tion whether they should call that place a humane society." Police and Humane Society officials arrived at Bachman's home half an hour after Judge Harry Edelberg ended a four-year legal battle over the cats by issuing a warrant for their removal. Neighbors had complained that the large number of cats constituted a public nuisance. of women to have abortions, which is contrary to church policy. "We can baptize him our- Mrs. Morreale, 20, told a news conference on the sidewalk in front of St. Patrick's Cathedral. With her was William Baird, developer of birth control and abortion-advice clinics, who called for a national economic boycott against the Roman Catholic Church until Father O'Rourke is reinstated. EXPRESSES OUTRAGE "We are utterly outraged at the almost arrogant abuse of power in the punishment of Father Baird said. Baird and Mrs. Morreale then walked a block to the residence of New York's archbishop, Terence Cardinal Cooke, to appeal to him on behalf of Father O'Rourke. A housekeeper turned the pair away, saying neither the cardinal nor other priests were there. Baird left a note, offering to cancel the baptism if Father O'Rourke were rein- stated. Asked how a baptism could be revoked, Mrs. Morreale said: "We don't know, but we're working on it. We'll re- baptize him ourselves." She said this is permissible in Catholic teaching. Baird, who said he is the child's godfather, refused to state his own religious affilia- tion. The action against Father O'Rourke was reported by the Boston Globe. which were shrewd enough to see that the pace could not be maintained. This proved an almost exact parallel to the British ex- perience except that in Italy administrative chaos in government made the problem more difficult. Wages now are falling behind prices, which are skyrocketing, but Italians are still consuming six per cent more than they produce and filling the gap with high- priced imports. The need for a large-scale austerity program to cool the overheated economy was ob- vious a year ago but dithering in parliament and a series of political crises have meant it is only now being enacted. The billion to be taken out the Italian economy will be removed indirectly through higher sales taxes and higher taxes on gasoline and other fuels, making the program highly inflationary, at least in the short-term. This in turn is almost certain to set off another round of cripplingly- high wage demands, fuelling the inflation cycle still more. Nevertheless, the Italians appear to believe that in the long term the package will have some deflationary effect and they are convinced that any more stringent action would force Italy's leading companies into bankruptcy. Court rules in favor of Dr. Finch KANSAS CITY, Mo. (AP) An appeals court ruled Tues- day that Dr. Bernard Finch, who served a 10-year prison term in California for the slaying of his wife, should be granted a Missouri medical licence. But the Missouri Board for the Healing Arts said it would appeal the ruling. Finch had appealed to the Missouri Court of Appeals after the board turned down his request for a licence. John Hailey, the board's executive secretary, announc- ed plans for the group's appeal and added: "The board is on record as saying it will take it as high as necessary." Since he was paroled, Finch has been working as an x-ray technician at the community hospital in El Dorado Springs in southwest Missouri. The Board of Healing Arts had ruled that Finch was not qualified for a licence because of the murder conviction in 1961. There's one great reason why Acadian 400 is becoming so popular. Flavour! SUPERIOR RYE WHISK? c wcuow tMJft American sentenced to death in Japan NAHA, Japan (AP) A Japanese court today sentenc- ed a United States civilian to death for the murder of a U.S. soldier. Court officials said it was the first time since the Second World War that a Japanese court had given an American the death sentence. The three-judge district court found Samuel Patter- son, 40, of Lake Charles, LA., guilty of the murder of Pte. Gregory Scrivens, 20, of Warren, Ohio, in June, 1973. Patterson and three U.S. servicement killed Scrivens after he told army criminal investigation division agents about a plot to kidnap and kill an American who was in business in Okinawa. The four men beat up Scrivens in an apartment in Okinawa City, 15 miles north of Naha, on the night of June 21, 1973, anesthetized him with ether and took him to a charcoal kiln in a wooded area near Nago, 50 miles north of Naha. There, the judge said, he was beaten with a tire wrench until he was unconscious, put into the kiln, doused with kerosene and burned to death. One of the three service- ment was convicted of murder by an army court martial and now is serving a prison setence in the United States. A second man died of an over- dose of drugs two weeks after the murder, and the third was not tried because he gave evidence against the others, the court said. ENVOY SWORN IN WASHINGTON (AP) Ca- reer diplomat Richard Lee Sneider of New York was sworn in Wednesday as United States ambassador to South Korea. He succeeds Philip Habib. who has been named assistant secretary for East Asian and Pacific Affairs. NOTICE CITY OF LETHBRIDGE Garbage Pick-Up Schedule ft tVI_N. 't> FRIDAY TUESDAY O .VE X 'ii'JJ1-, WEDNESDAY EFFECTIVE MONDAY. SEPTEMBER 16th. 1974. City of Lethbridge domestic garbage collection services will follow the schedule as outlined in the map. The Letlibridge Herald think YOUR NEWS QUIZ PART I NATIONAL AND INTERNATIONAL Give yourself 10 points for each correct answer. 1 President Gerald Ford's choice for Vice Presi- dent, must be approved by the U.S. Con- gress. a-George McGovern b-Nelson Rockefeller c-Barry Goldwater 2 Australia and New Zealand charged with making its sixth or seventh atmospheric nuclear test in two months. a-France b-Great Britain c-the Soviet Union 3 Wilbur K. Howard, moderator of the United Church of Canada, is the (CHOOSE ONE: first, second) non-white to head a major Christian church in Canada. 4 Angela Kondrak succeeded in her bid to becoms the youngest swimmer to cross Lake Ontario. True or False? 5 The planned (CHOOSE ONE: imposition, removal) of a 5-cents-a-quart federal milk subsidy, an- nounced by Agriculture Minister Eugene Whelan, is expected to result in higher prices for con- sumers. PART II WORDS IN THE NEWS Take 4 points for each word that you can match with its correct meaning. 1.....jersey a-cast away, discard 2.....jeopardy to-knitted material 3..... jettison 4.....jargon 5.....jibe c-special vocabulary of a trade, sport, etc. d-danger or risk e-fit together, agree PART III NAMES IN THE NEWS Take 5 points for names that you can correctly match with the clues. PART IV PICTURE QUIZ 5 POINTS He plans to soar across a quarter-mile-wide river canyon O.T his steam-powered "Sty Cycle." Who is he? HOW 00 YOU RATE? 71 to 80 pomfc Good. 91 Jo 190 TO? SCORE" to 70 points 81 to 90 60 or Under' Want FAMILY DISCUSSION QUESTION Should highway speed limits be lowered as a fuel conservation and STUDENTS 1.....John Mmro 2.... Jean Drapeau 3.....Beryl Phunptre 4.....Leonid Brezhnev 5.....Aleksei Kosygin 92-74 a-Mayor, Montreal b-Premier, Soviet Union c-Labor Minister d-ChaJrmsn, federal food price review board e-First Secretary, Soviet Communist Partv VEC. Inc. Save Practce Examination! Valuable Reference Material for Exams. ANSWERS ON REVERSE PAGE ;