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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 11, 1974, Lethbridge, Alberta WMlnMday, LETHBRIDGE HERA'. He's just a little nipper Big Red, baby macaw, nips at owner Ellen Galetska's ear at the annual Domin- ion Budgerigar Society bird show in Toronto. Big Red, only eight years old, has a life expectancy of 150 years. Long-term bonds advised as excellent investment By THE CANADIAN PRESS Wood Gundy Ltd. of Toron- to, says in its monthly guide that long-term bonds should be an excellent investment despite the uncertain future of the economy. The recent behavior of both the debt and equity markets suggests investors are con- cerned that their worst fears may be realized, the company says in its September guide to Canadian investment. Trying to assist the investor in interpreting what is to come, the firm describes three scenarios which they call game plan, depression and wheelbarrow money. The last scenario of wheelbarrows laden with worthless money is practical- ly ruled out by the firm. "This alternative, by far the most terrifying, is also the least likely." In this scene, there is a rapid escalation of the infla- tion rate, a flight from paper currencies and destruction of the long-term bond market. Short-term rates rise to un- heard of levels to keep pace Good years ahead for B.C. ports VANCOUVER (GP) Canada's Pafic rim ports will double their cargo handling in the next 10 years, Revenue Minister Ron Basford predicted here. He said the port of Van- couver's growth potential is matched by that of New West- minster, Roberts Bank, Prince Rupert and other west coast terminals. "The rising standard of liv- ing enjoyed and demanded by the burgeoning pop- ulations of Japan, Indonesia, Southeast Asia and the People's Republic of China means doubling our cargo handling in the next Mr. Basford told the Canadian Port and Harbor Association. "Just in the last five years, stepped up Pacific rim trade has resulted in an 80 per cent increase in the volume of port of Vancouver traffic." The Port of Vancouver now generates about million a year in wages, services and supplies. Mr. Basford said the federal government would spend about billion in the next five years in the operation and improvement of marine tran- sportation facilities. He made a number of promises for transportation improvements, including: of direct shipment of Canada-bound goods through Canadian ports rather than trans shipment through American ports; of port and harbor facilities to allow greater local autonomy; of unnecessary and costly bottlenecks in freight handling. Mr. Basford said he and Transport Minister Jean Marchand are studying a recently completed report on the ports of Vancouver and Prince Rupert. with rapidly depreciating cur- rencies. If this happens it would be futile to worry about an in- vestment strategy when most people will be concerned sole- ly with their physical sur- vival, the firm advises. In the "game plan the economy slides into a recession but the crunch is avoided. Money remains tight and inflation is moderated, although not defeated. Interest rates peak at about one per cent above current levels as the economy is brought back into line. This parallels the current thinking of U.S. and Canadian planners. But the firm warns that a scarcity of money and squeezed profit margins could push the economy into a depression. Tight money would cause major bankruptcies; inter- national trade would contract; and major nations would finally opt for all-out austerity. Finally wide-spread unem- ployment would reduce de- mand for goods and services forcing prices to level off or drop. Summing up, Wood Gundy- says the unpredictable nature of inflation is making it ex- tremely difficult to control, since high inflation rates are fuelling even higher inflationary But whether the economy follows the game plan or enters a depression, the firm says: "In either case long- term bonds purchased at the right time should afford an ex- cellent investment over the ensuing several years, with at least the chance of appreciable capital gains. Panasonic Quatracolor TV OTHER MODELS FROM 26" Quadracolor 799W 20" Ouadrecolor 64995 ONE-OF-A-KIND SALE GIBSON RANGE 9QQ95 GIBSON REFRIGERATOR 43Q95 IS-ftrtQMTllanKiMI .....................................TrUlif GIBSON DISHWASHER 32QOO WASTE KING DISHWASHER OQQOO filial SPEEDQUEEN 5QQ95 REMUS TELEVISION North 32S4330 No let-up in decline for months Housing construction continues plunge OTTAWA (CP) Housing starts in August continued plunging with indications the decline will continue for some months. Central Mortgage and Hous- ing Corp. (CMHC) said in pre- liminary figures released to- day that actual urban starts in "August were down 25 per cent from in the same month last year. Housing begun in cities in the first eight months of the year dropped nine per cent to units from in the corresponding period last year. CMHC said that there was an increase in this period of two per cent in single- detached dwelling starts and a decline of 17 per cent in multiple-unit housing. Urban Affairs Minister Barnett Danson has expressed concern about the apartment shortage in some cities and has said he hopes to announce soon a program to encourage more apartment construction. One CMHC source said his personal guess is that over-all housing as well as total between and by the end of the year. A record housing un- its were begun in 1973, up almost from the previous record in 1972. The Economic Council of Canada set a target in the early 1970s of a year to meet hous- ing needs. The outlook for the coming months appears gloomy. A CMHC spokesman said approved lending activity was down 52 per cent in the first seven months of the year from the same period in 1973. Ap- proved lenders are financial institutions whose loans are guaranteed by CMHC. Approved lenders provided loans amounting to million in the first seven months of 1974, down from ?998 million in the cor- responding period last year. The number of units financed by these loans fell to from Direct loans by CMHC were up sharply to million from million. These financed an increase to units from 9.815. INVENTED IN 1855 A rubber dental plate was put on the market by the Goodyear Rubber Co. in 1855. Sport Coat Slack Sale Sport Coats. Firstly, these sport coats are this season's stock brand new looks for fall. The latest checks and plaids. The most luxurious and long-wearing tweeds, shetlands and saxonies. Secondly, at their regular price, they were the best sport coat value in the country. Regularly to For just 10 days Vft A.-VA The most luxuriou: Slacks. Not a rack of unlovies that we couldn't sell last year. This is a collection of our finest dress slacks for fall and winter 1974. They are wool, wov- en flannels in plains (greys and browns are very big colours this sea- son) and fancy patterns. Regularly to For just 10 days... Open a convenient Tip Top Chaise Account. Centre Village Mall TIP TOP Telephone 328-8255 crux Saving money never looked so ;