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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 18, 1974, Lethbridge, Alberta 8 THE LETHBRIDGE HtRALD Wednesday, September 'Purchasingpower unchanged since '55? U.S. oil exports lowered two per cent for October By VICTOR MACKIE Herald Ottawa Bureau OTTAWA The Canadian investor has experienced no gains since July 1970 and no increase in the real purchas- ing power since May of 1955, according to comparative figures based on the Sept 12 Toronto stock exchange in- dustrial index and the latest consumer price index, Sinclair Stevens Progressive Conservative MP for York Simcoe said Monday "This he said, "that if you invested in July of 1970 it would now be worth only in purchasing power Stock market prices are falling because of fear of inflation, high interest rates and declining business confidence, he said "While big business may be equipped to withstand the effects of today's adverse economic climate, any small businessman will tell you that he is finding it increasingly difficult to carry said Mr Stevens He criticized Finance Minister John Turner for engaging in "second hand par- ticipation" in anti inflation talks abroad, rather than attending the meetings to make Canada's position known directly. Mr. Stevens is the Conser- vative corporate affairs critic. He noted that Prime Minister Pierre Trudeau has been telling Canadians that inflation is an international rather than a national problem. In view of that, he said, Canadians were entitled to ask what their government is doing at the international level to fight inflation. Mr Turner left Canada for Europe Tuesday. He will hold talks with the finance ministers of Germany, France and Great Britain. He returns to Canada at the end of the week. Canada depends to a large extent on world trade for her prosperity. As a result Canada should have been represented at the meeting of the Group of Six near Pans a week ago, he said. "The finance minister fail- ed to attend. He prefers se- cond hand participation in international problem solving by choosing to speak to other ministers individually this said the Tory critic He said Mr Turner has not mentioned whether he was asked to attend the Group of Six or whether he made any efforts to attend. "Considering Canada's dependence on trade we should have been at that meeting Indeed, by one measure that of the propor- tional weight of currency in the valuation of the Inter- national Monetary Fund's special drawing rights, Canada ranks sixth in impor- tance of all industrialized non Communist said Mr Stevens. Canada is a member of the International Monetary Fund's committee of 20. By JEFF CARRUTHERS Herald Ottawa Bureau OTTAWA The National Energy Board has authorized the export of barrels per day of crude oil to the United States during October, down about two percent from this month's exports. The level of crude oil ex- ports for October compares with barrels per day authorized during September and barrels per day authorized a year ago Oc- tober The National Energy Board has estimated that total Cana- dian crude oil production dur- ing October will be about 425 barrels per day, according to the NEB Monday. As a part of the crude oil set aside for domestic consump- tion, the NEB has earmarked some barrels per day for movement from western Canada to the eastern market. Most often this >s tran sported by tanker from Van- couver to eastern Canada via the Panama Canal. The amount set aside during October for west to east trans-shipment is less than half the amount of barrels per day set aside dur- ing September. The eastern oil subsidy program combined with the softening price and supply situation for imported oil used in eastern Canada has made it considerably less economic to use western domestic crude in the eastern market. 0 FOOD BUYS! Prices effective thru Saturday Closing September We reserve the right to limit quantities. All L-Mart Meats Are Government Inspected And 100% Guaranteed to Satisfy B.C. NEW CROP MclNTOSH APPLES f Commercial Grade SIRLOIN STEAKS K -r 3lb.MlvM.rkg. WEST MARGARINE IXAM LUNCHEON MEAT Bacon and Cheese, 12 oz. net wt. tin KRAFT SINGLES CHEESE SLICES HEINZ STRAINED BABY FOOD KRAFT SALAD BOWL SALAD DRESSING LONG AND CUT SPAGHETTI OR CUT MACARONI CREAMETTES 1 55 1lb.Mtwt.pkg. (except meat 4 ff. oz. jar T-BONE or CLUB STEAK 6overniwnt Inspected Choice Young Alberta Pork or PORK BUTT ROASTS Go vernmwt Inspected" Breakfast Might Sliced SIDE BACON 1tt.tttWt.lfi. 8M.4WM0.le.MM. MCCAINS VALLEY FARM FRENCH FRIES PHASER VALE PEAS [rt 2II. net wt. CHICKEN MEAT LOAF SALISBURY STEAK univixen luimci mcni uunr MNQUET DUOS 2i99 79 65 0 c c CHECK THESE EXTRA VALUES AT L-MART CHOCOLATE BARS 1 39 GAINSBURGER KLEENEX TOWELS Assorted Colors, 2 roll pkg. SPANISH PEANUTS 109 Johnson's, ntt wtpkg SUNLIGHT DETERGENT 199 PowdorodSlb.iwtwt.pkg., King SIM LUX LIQUID 1 59 Dotorotnt, 24W. oz. prattfe twin pack ;