Lethbridge Herald, The (Newspaper) - September 18, 1974, Lethbridge, Alberta
i He Lt i HBRIDQE HERALD 9 Turner to test world opinion on solutions to twin money evils LONDON (CP) Canadian Finance Minister John Turner today begins a brief tour of several European capitals to spread the gospel of inter- national co-operation in solv- ing the world's deepening economic malaise. Arriving in London late Tuesday, Turner flies to Bonn today for talks with West German minister before returning here early Thursday for a meeting with Denis Healey, Britain's chancellor of the exchequer. He then flies to Paris for a Friday meeting with French Finance Minister Jean-Pierre Fourcade before returning to Ottawa early next week. Turner's main objective, sources say, is to test world opinion on possible solutions to the twin evils of inter- national inflation and reces- sion and to get some idea of the future plans of individual governments before framing his own budget for presenta- tion later this autumn. He will stress the need for coordinated action through such agencies as the Inter- JOHN TURNER national Monetary Fund and the General Agreement on Tariffs and Trade (GATT) FOREMOST MUTUAL TELEPHONE CO. TELEPHONE POLE AUCTION SALE 6 Miles North of Foremost OR 19 Miles South of Bow Island on Highway No. 879 FOREMOST, ALBERTA MONDAY, SEPT. 23 1 P.M. LUNCH SERVED Having been favoured with instruction! from directors of Forsmosl Mutual Telephone Co., we will offer for Mle the following listed below, which is merely a guide and In no way a warranty or guaran- te to condition or age and subject to additions, deletions, errors or minor changes as you may find them the day of the sale. TERMS: Cash the day of the Sale, with settlement in full before removal from the premises. TELEPHONE POLES 1201 POLES 270Poles................................. 25ft. 570 Poles................................. 20ft. 240 Poles................................. 18ft. 112 Poles 16ft 9 Poles 30 ft. 200 Rolls Telephone Wire Quantity of Insulators These poles are approx. 7 yrs. old and nearly all are treated. AUCTIONEER'S NOTE: This is one of the last mutual dispersal sales. All these poles will mske excellent yard light or corral.poles. SALE CONDUCTED BY HANDLEY AUCTION AND ENTERPRISES LTD. BOX 105, COALDALE, ALBERTA "SERVING THE SOUTH BY WORD OF MOUTH" For further information phone 345-3534, or the owner AUCTIONEERS: LesHandley Fred Burton Roger Handley Lie. NO. 010120 lie. No. 005615 Uc. Nt. 010121 FRANK ELL POOL HALL COFFEE SHOP DISPERSAL AUCTION SALE MAIN STREET FOREMOST, ALBERTA SAT., SEPT. A.M. LUNCH SERVED Having been favoured with taMmcltons from Mr. Frank EH who Is closing out Me byalnaat, win offer for sale the following pro- pertjf and SQulpmaiil listed below, which is merely a guide and hi no way a warranty or guarantee aa to condition or age and is sub- ject to additions, deletions, errors or minor es you may flnd them the day of the sale. TERMS: Cash the day of the Sale, with eetttemenl in full before removal from the premises. Englis hot water tank, gas. 40 gal., glass lined. Moffat stainless steel restaurant range, 2 cookers and grill. Stainless steel commercial deep fryer. 40.000 BTU. Stainless steel commercial deep fryer, BTU. Stainless steel double hood and fans. Frigidaire freezer 30 cu. ft. Kelvinator 2-compart- ment ice cream freezer and storage bins. Hamilton Beach triple milk shake mixer. Bumn pouromatic coffee maker. Upright pop cooler. Upright deep freeze. Kelvinator double door freezer. McClary electric fridge, 10 cu. ft. Hamilton Beach single mix- er. Meat slicer. Two Commercial Regulation Site Billiard Tables, Excellent Condition. Antique score board. Two sets snooker balls. Two sets number balls. One set billiard balls. Sev- eral cues and ball racks. Cistern pump. Natural gas floor furnace. Overhead gas heater, BTU. Admiral air conditioner. Mirror 4'x2'. Barber chair. Three double fluorescent lamps. Three 10 ft. Kitchen counters. I shape coffee counter. Ten padded cafe stools. Two complete booths. Triple stainless steel Sink gas grill 24" x 24" REAL ESTATE 50' x 50' building, ideal for office space or small business, front portion remodelled. LEGAL DESCRIPTION Lois 15 and 16 and North 4 ft. ol 17. Block 4- Plan 5317 Ave., Village of Foremost. Total area 54 ft. Frontage. 120 ft. Depth. SALE CONDUCTED BY HANDLEY AUCTION AND ENTERPRISES LTD. BOX 105, COALDALE, ALBERT A "KHUN THE SOUTH IT VOW IF HWTfT For further Information phone 345-3534, or me owner AUCTIONEERS: LM Handley Fred Burton Roger Handley 010120 005615 010121 and will warn of the dangers of unilateral deflationary measures. The Canadian initiative is likely to get a generally warm response in Europe. Most offi- cials seem highly pleased that some form of real inter- national action may finally be taking shape. In Britain, Turner will be assured by Healey that he plans to attend the Com- monwealth finance ministers conference in Ottawa Sept. 25- 27 even though a British general election campaign may then be in progress, treasury sources say. The Canadian minister will also likely find Healey a strong supporter of his views on the international economy. Healey, like Turner, acknowledges that govern- ment spending in some areas must be reduced in the interests of controlling the money supply and inflation. But the British minister wants such measures kept to a minimum. There is a pro- nounced fear here that coun- tries will start a kind of com- petitive deflationary cycle in attempts to step up exports and reduce domestic demand for imports, leading to a devastating trade war. In West Germany, Turner will find one of the healthiest, most dynamic economies in the West. Inflation is running at a modest rate of roughly 6.5 per cent a year, compared with 17.1 per cent in Britain and more than 11 per cent in Canada. Employment is high and the balance .of payments is in a strong surplus position. Sources say the Canadian minister will likely add his voice to those of the British and others who have been urg- ing the Germans to reflate their economy considerably and provide a market for ex- ports from deficit countries. But Turner will likely find West German Finance Minister Hans Apel less than receptive to such overtures. Apel's stock reply to such arguments from the British and others has been that German reflation is impossi- ble before inflation in the rest of the world is brought under control. He contends that German consumers simply would refuse to buy highly-priced imports and an increase in the money supply would lead only to an excess demand for domestically produced, low priced goods, leading to serious inflation at home. In France, Turner may seek an official evaluation of the future of the European Economic Community and the possibility of stronger trade links between the Market and Canada. French President Valery Giscard d'Estaing has recent- ly taken several concrete steps towards strengthening unity within the Community and appears for the moment at least, to hold high hopes that the Common Market can develop unified policies on the key issues of the world economy. Although there are no set agendas for any of Turner's discussions, sources indicate that the re-cycling of vast sums of Arab oil money to deficit consuming countries will assume major impor- tance in all his talks. The question of how to chan- nel these funds from the oil- producing countries to states such as Britain, France, Italy and others is causing growing concern in world financial circles. At the moment, the main burden is' carried by banks operating in Europe but there is mounting fear that these institutions are in- capable of sustaining the operation indefinitely and governments have begun searching for more organized and regulated methods of carrying out the transfers. SAVES ENERGY STOCKHOLM (API Sub- way coaches equipped with thyristor chopper control, sav- ing up to 50 per cent in energy compared with conventional rheoslatic braking, are being built by the ASEA electrical engineering firm for the Stockholm subway system. 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