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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 25, 1971, Lethbridge, Alberta September M, Wl THI UTHMIDOI HBIAtO The debt goes higher and higher Business Talk vrfli P( tons and what do you get? Another day old- er and deeper in debt. St. Pe- ter don't you call me, 'cause I can't go; I owe my soul to the Alberta Municipal Financing Corporation. The city is in about the same boat as the miner in the song written by Merle Travel's and made famous by Tennessee Ernie Ford in 1950. At least the part about another day older and deeper in debt is quite apropos. By the end of this year the city mil owe per capita more than it owed at the end of last year. It will owe for every man, woman and child in Leth- bridge compared with ture with other cities across have- another title added The 1 City with the Highest Per Capita Municipal Debt Canada because each city has Bond prices last year despite more than million in 'principal and inter- est being retired this year. This year's figure does not in- clude funds for the Henderson Park Community ice facility. The municipal debt the end of this year will amount to more than million com- pared with million last year. The 30 per cent jump m per a different way of doing it. r In a compilation by the Fi- nancial Times of Canada in its publication, Industrial Loca- tions in Canada, covering all Canadian municipalities over population, Lethbridge's per capita debt picture looked good compared with the rest of Alberta but not so good com- pared with the rest of Canada. Perhaps the provincial govern- ment had something to do with that. The publication listed Leth- bridge's per capita debt at based on last year's bonded debt divided by this year's pop- ulation. Edmonton was at (population Calgary (pop. Medicine Hat (pop. and Red Deer (pop. Lethbridge looks good in thL picture and will look even bet- ter when Red Deer has to tack on borrowings of more than million for secondary sewage treatment. Edmonton's per capita pic- 'H Lf thTveTV due ture would not look as good" as capita debt this year is due in the to construction of the ll does._rf it reported m trie largely to construction secondary sewage treatment facilities ordered by the pro- vincial government. 0 The picture isn't going to improve either in the forsee- able future. The mill rate for annual debt charges is slated to increase yearly from 13.25 mills in 1971 to 13.86 mills in '72, to 14.44 mills in '73 and 15.19 mills in '74. That means the city is going to have to collect S1.225.COO in 1971; in 1972; 000 in 1973 and in 1974 just to make payments on gen- eral debt charges principal and interest on borrowings. The million is not the entire debt picture, however. If one was to include the interest on the borrowings (in financial circles this is not done as in- terest is not considered a part of debt) the total amount tlie city will owe on principal and interest will hit around mil- lion. This is almost per capita. It is virtually impossible to compare the city's debt pic- same manner Lethbridge re- ports. Edmonton's debt is i actually twice what was reported but the city does not include half the debt because it is "self- liquidating." If Lethbridge did not include its "self-liquidat- ing" debt, the per capita debt picture would be considerably better. But Lethbridge includes all bonded debt in its report. Just for the exercise, let's compare Lethbridge's per apita debt (population with others listed in Industrial xxjations in Canada. Chilli- wack, (pop. Bramp- on, (pop. Gait Hay Realty Ltd. Exceeds In M.L.S. Sales As At Sept. 15, 1971 I. J. HAMILTON, (Branch Manager) For the first time in the his tory of the lethbridge Multi pie Listing Service a sing! agency has sold in M.L.S. sales. Women's lib! One of the few; remaining strongholds of men I in Lethbridge has fallen, bull nobody's really complaining. The stronghold? The car sell- ing business. The place' EN- ERSON MOTOHS LTD. Fred Wcatherup, company president, has put three 25- year-old married gals in his showroom as hostesses "to pro- vide a m o r e relaxed atmo- sphere, allowing the customer to shop at ease without being set upon by a hard-nosed sales- j man." The girls, adorned in pant suits, are highly educated "and know more about cars than many male salesmen." They don't do any selling. They answer a customer's uestions and price out the ve- cles for the customer leaving e final negotiations and con- act signing to management. The gals also do a customer llow-up after a new or used ehicle is purchased to deter- Tiine if there are any prob- ms. Measures are then taken rectify them. The girls are "probably the ghest paid receptionists in IB city. Reception has teen xcellent so says Mr. featherup. The unique system of hos- esses and the more relaxed mosphere which allows a respective buyer to shop at ase, is being closely watched y General Motors. Supplied by Donerty (loadhouse and McCualg Bros. OOVIRNMENI OP CANADA BONDS BOVtRNMENT OP CANADA GUARANTIED BONOS A.V.d CONVEKTIBIH Con. Mot. Wwy. Bld C Apr. 1, '71 Matured Sept. 1, '72 99.80 m-w 514% Oct. 1, '75 89.25 99.75 8 Jul. 1, '78 108.25 109.25 4V4% Sept. 1, '83 83.75 84.25 Perp. 3 Sep. 15 39.00 41.00 6V4% Apr. 1, '75 101.50 102.00 Jul 1, '75 104.00 105.00 Sept. 1, '92 85-00 87.00 PHOVINCIAt '90 104.00 106.00 Alta G T TA% Cons Gas 514% Scur Kain Tr Cdn P 5 WC Tr C WC Tr TA% Dynasty 7 Acklands '90 125.00 128.00 '89 98.50 W.50 '88 88.00 90.00 '89 94.00 96.00 '88 90.00 92.00 '91 114.00 116.00 '82 70.00 80.00 '88 74.00 79.00 215 (pop. Cornwall 191 (pop. St. Jean 195 (pop. Valleyfield 205 (pop. Victoria, (pop. Regina, (pop. Vinnipeg, (pop. Sherbrooke, (pop. Mo net on, (pop. Dartmouth, (pop. Despite differences in report ng, I still have a sneaking suspicion Lethbridge ranks >retty high in Canada with its wr capita debt. One thing is for sure tha debt is climbing higher, am ligher, and higher. The high per capita deb doesn't mean the situation i lopeless. Nor does it mean tha Lethbridge is in over its heac and can't get out it's just ir up to its nose. The city is no going bankrupt by any means But a major crisis could pus the city over the brink. To city council I would sug gest the belt be tightened o borrowing a little more. Jus because the city is allowed I borrow approximately mi lion a year from the Albert Municipal Financing Corpora tion doesn't mean it has to bor row that amount. In the past has borrowed less than allow ed, and it can do it again. Establish "firm" long-rang priorities, but leave lots breathing room for emerge cies which have a habit of po ping up unexpectedly. An "emergency" could i elude almost anything. For e ample, the city might find self in a difficult, if not impo sible, situation at this time if major industry requiring laru .P i amounts of water, power and M.L.S. sales sewage treatment wished to lo- 8 Alberta Ontario Ont Hyd 9 New Br 9 Nfld N. S. 6' Quebec T Alberta 8 Man Hyd 8 Sask 8; Nfld 9 ACT 8 Man Tel 8 Potato Prices WINNIPEG (CP) Maritime potato futures Friday: Open High Low Close Nov 2.Z5N Mar 2.CON Apr 2.68N May 3.05A 1972 MERCURY METEOR Stocks slump in week 93.00 95.03 '94 108.00 110.00 '90 107.00 109.00 '74 100.00 102.00 '92 85.00 B7.00 '74 100.00 102.00 108.00 108.00 '91 99.00 101.00 '90 105.00 107.00 '90 103.00 105.00 '74 100.00 102.00 '74 100.00 102.00 INDUSTDIAl 9% RAEWOOD MOTORS LTD., he city's Volkswagen agency, s having plans prepared for a ew service centre. Tie centre would be located on laewood's present used car lot t 3rd Ave. and 14th St. S. No ate has been set for a start n construe tion, says Rae loughnour, company president WILLIAM NILES, formerly of Lethbridge, recently took over as vice-president, finance, or Canron Limited of Mon real. Canron produces a di versified line of grey iron am Jlloy foundry products, heavy machinery, electric motors concrete and plastic pipe and related steel and plastic prod ucts. Last year sales were million. Mr. Niles, educated at Bow man, Central and LCI schools n Lethbridge, is the son o" Mrs. D. C. Niles, 950 9th St. S. and the late Cam Niles wht used to operate Cam's Tuck Shop across from the curlin rink. Mr. Niles, 41, joined Canron in June and became vice-presi dent Aug. 1. He was employed by Schlumberge Limited in New York and wa with Price Waterhouse in Ven ezuela in 1956. He is married t former Lelhbridgeite Sheil Talbott. They have five chi: dren. Anything new or exciting in your business? Planning any moves or expansion; Any senior personne. changes? If so, give me a buzz. Alcan B.C For Tel eh1 Tel ell Tel PR P Sec dn Util MHC Mi% ulf Oil nter P P [assey oranda 9Vi% nt Nickel 9V4% and C G 9Va St of Cdn 9V4% Y Cdn P Y Can P 10% and the Staff at Hay Realty Ltd. is determined to exceed before December 31st, 1971. WE NEED YOUR LISTING If you want to buy, sell or trade, call Hay Realty Ltd., College Mall, Lethbridge, Al- berta. Phone 327-7077 or 327-7975. make money. It's also true that Lethbridge is a quality city, with many services and facili- ties not enjoyed by larger com- munities. But at what cost? A line has to be drawn some- where. I'd hate to see Lethbridge, variously known as the Irriga- tion Capital of Canada, the Sun- shine Capital, the Recreation Capital and the City of Quality, THE ALBERTA REAL ESTATE ASSOCIATION in co-operation with LETHBRIDGE REAL ESTATE BOARD offers an Intermediate Course in REAL ESTATE Beginning Monday Evening, Sept. 27th 25 WEEKLY LESSONS Donling with Building Construction, Insurance, Town Plan- ning, Municipal Legislation, low, Appraisal, Investment, Form Brokeago, Income Tox, Office and Properly Monaco- ALL INCLUSIVE FEE Details and application! from: Mrs. Alia MacMillan 522 6th S. South lethbridge Phono 338-8838 IN EDMONTON Stay At the RIVIERA '91 105.50 107.nO '92 103.00 105.00 '90 106.00 '79 105.00 107.00 '93 106.00 108.00 '89 104.50 106.50 '90 103.00 105.00 '91 104.00 '90 104.00 '90 104.00 106.00 '90 105.50 107.50 '80 103.50 105.50 i '90 105.00 107.00 i '90 106.00 108.0( i '91 104.00 106.W '90 106.00 '90 107.00 109.0 '90 108.00 110.W By Gene Fawcette A REVOLUTIONARY COOKING R4NGE, NOW SEWS DEVELOPED, HAS NO HEATlNS ELEMENTS OR BURNERS, SO IT NEVER SETS HOT. AN OSCILLATING AWSNETIC FIELD, SENERATED FROM BELOW, AGITATES THE MOLECULES IN A METAL UTENSIL RAISINS ITS HEAT SO IT COOKS THE CONTENTS... TOP" KMMfWUKABieTO T. ehllln to In IjrtW InlDrmeU.n. ,.n4 Kafflp.d. l.ltaddr.ll.d. .nnlcpt te NEWI Canada .S SI.Jom.1 St. w.. hWrtel 136. Conade. By PETER LEICHNITZ Canadian Press Staff Writer Canadian stock markets suf- fered through one of Iteir worst declines of the year this week, as a wave of adverse economic news resulted in many investors liquidating their portfolios, pre- ferring to remain out of the market until the present eco- nomic crisis has passed. The uncertain international monetary situation, primarily the continued pressure on the U.S. dollar by the world's lead- ing trading nations prevented any solid gains on Canadian markets. At New York, the market recorded sharp declines in most sectors, erasing moderate ad- vances made last week. News that two major com nies operating in Canada were reducing production and laying off employees was another fac- tor responsible for the decline. At Toronto, the industria index, considered an important ndicator of market activity, ost 4.89 points, the sharpest one-week drop of the year, clos- ing at 173.35. On the Montreal and Cana- dian exchanges, the composite index dropped 4.93 points, clos- ing at 178.16. Combined volume on the two exchanges were 4.54 million shares, compared with 6.52 mil- lion last week. Volume at Toronto was 9.58 million shares, down from 10.38 million last week. Alcon announced early in the week it was reducing its Cana- dian smelter production of alu- minium, forcing the company to lay off 300 employess in Quebec. General Motors announced Monday it was cutting its Cana- dian production of automobiles and reducing ite combined working force at five Ontario plants by up to seven per cent during the winter. The company said increased competition from imports was a major factor to Ihe reductions. Suppliers to the auto-maker are faced with a reduced mar- ket for their products and it is possible that lay-offs will spread to these secondary industries. At New York, the Dow Jones industrial average of 30 key blue-chip industrial issues dropped 15.84 points, closing at 889.31. Volume at the New York Stock Exchange was 60.14 mil- lion shares up moderately from last week. LETHBRIDGE FISH AND GAME ASSOC. RIFLE, PISTOL AND SHOTGUN RELOADING COURSE Tuesday, Sept. 28th, p.m. FISH AND GAME HUT Only requirement is membership in Fish and Game! H. H. Smith Ltd. Customs Broker coum Phone 344-3821 THE HOTEL WITH MORE TO OFFER AND WE NOW HAVE COLORED TV For Your Convenience In Making Reservations CAU AND ASK FOR IONG DISTANCE ZEnith 0-7255 at no cost to you MOTOB HOTEL 5359 Calgary Trail Edmonton, Alberta Phone: 434-3431 T.l.x: 037-2510 1 Stupor: comb, forn't: 6 Hungarian composer. 11 Young 16 Stair parr., 21 Greek epic, 22 Puff up. 23 Marie 24 Take by force. 25 Metal Mercury. 29 Husband. 30 Danish weight: 31 Vassar graduate. 33 Each. 34 Abrasive. 35 Under- garments. 36 Loafer, e.g. 37 Masters. 41 Annamese measure, 42 Parachutes, 46 Signs up. 1 Notch. 2 Medicinal plant. 3 Matured. 4U'I Abnep creator. 6 Poem. 6 Abates. 7 Gantry and Roper. E Hirsute. 9 Thai coin. 10 Talking over. 11 Liberace trimmings. 12 Tuft. 13 Checks. 14 Spanish 15 India mall. 16 Marine hymn city. By Cecil Jr. SLIGHTS METALLIC ACROSS 47 Poor excuse. 74 out of EOHoly: India. your pants." 51 Glares. 76 Verb ending. 62 Danny Kaye 79 No its, ands song. eshfolystatum 80 Burlap. 54 Hoover's agents. Bo Carried. 56 Making an appeal. Gush. 58 Prunes. 69 United: Fr. 60 Concerning. 61 Terminate. 62 Affectionate term. 63 With: pref. 64 Popular song of by- gone days. 66 Pertaining to marriage. Futile. Ebro, e.g. 70 Raised milk COWS. 72 Mexican 82 Fictional tea party guest. 83 Teutonic sign, 84 Kelly end Whitman. 85 Topee source. 86 Lonfl.Iegged bird. 87 Urchin. 83 Negrito. 89 Verbal contraction. BO Young pig: var. Apes, 92 Japanese coin. 93 Condemned man's trek. 95 Thin 96 Losers: 2wds. 98 Milkiest. var. 89 Jumper's nemesis. 100 Chalice veils: var. 101 Burn. 103 Achievers. 107 Cunning animal. 108 Algerian seaport. 109 Wind 113 Mongol armlet. 115Puddierr 118 America, dogwood. 119 Success story author. 120 Chosen. 121 122 Quantities of paper. 123 playwright. 124 Try. 125 Middle: Isw. 17 Depends. 18 Roof edge. 19 With: Fr. Mable." 26 Sends payment. 28 Europeans, In India. 32 S. Amer. ruminant. 34Tran. quilized. 36 Holy one. 37 Aphrodite's girdle. 38 39 Jean Harlow, e.g. 40 Auto necessities. 41 Enounh. 42 Actor Eric. DOWN 43 Pen point! 2wds. 44 Toxic condition. 45 Silvery decoration. 47 Ruses. 48 Mouthy hippy. 49 Needle: Ut, 52 Songs for two. 54 Rasp. 56 Daggers. 57 French shoe. 58 Luke warm. 60 French city. 61 Church members. 62 Outermost' brain coverings. 64 Hides. 65 British guns. 66 Female relative. esFry. 70lnform against. 71 Put In a row: var. 72 Minarets. 73 Mid-east peninsula. 74 Small Insects. 77 Riddle. 78 Thicker. 80 objectives. 81 Elbow bone, Electric catfish. 85 Semites, Dlagramless 19 x 19, by Anne Hallorart ACROSS 1 Total. 4 Pale. 7 Review and correct. 10 Lauded. '14 English title, .15 Tarried. 17 Large parrot. 18 Fuss. 19 Individuals. 21 Dropped. 22 Strong desire. 23 Camping. 26 Weird. 26 Call for help. 29 Finishes edge. 30 Volcano output. 31 Stringed Instrument. 32 Danger signal. 33 37 Water nymph. 38 Regrets. 39 Layer. 40 Apportion. 41 Matured. 42 Crush to pulp. 43 Clergymen. 46 Toward t stern. SOLTJTfflSS 49 Merchandise. 4 Hairpiece. 50 Sheepfoldi. E Ibsen 52 Inlet. character. 53 Approach Pianist or stealthily. fiddler. 65 Guard. 7 Wagon 58 Attacks. framework. 61 Winged E Time period, grasshoppers. 9 Oath. 62 Image moved 10 Frolic. by airings. 11 Travel. B3 Dessert. 12 Soon. 64 Steeped. 13 Fender drink. damage. 14 Loud nolte. DOWN 16 River In 1 Moral wrong. Scotland. 2 Put in 17 Great service. number. S Convened. Scoffs. OF LAST TOES HEZLES 86 Infantile. 87 Sod. 89 N.w. Penns city. 90 Golf ball cut: si. 21 Respectful titles. 24 Seductress. 26 Hindu garment. 27 Oast. 28WarbletT. 29 Firm. 30 Covers. 31 Listen to. 32 Stage, daggers. 33 Archaic _ preposition. 34 Pointed fastener. 35 Ceased to exist. 36 Writer. 40 Equine. 91 Chilean volcano. 93 Seesaws. 94 Taunters, 95 Alley. 97 In series. 42 Book of the New Testa- ment. 43 Comrades. 44 Unused. 99 Part of the eyeball. 101 102 Military student. 103 Portals. 45 Polar- mammal. 46 Limbs. 47 Command of authority. 104 Early Turkic man, 105 sit. 106 Lamb. 107 Upland, plain. 109 Migratory worker. 110 Casey and Franklin. HlJudah's descendent. 48 Colors from sun. 49 Mr. Disney. 61 Highway sign. CRYPTOGRAMS 63 Maple tree juice. 54 Cravat. 56 Roman 201. 67 Color. 112 Being. 114 Chinese dynasty. 116'Varangianl, 117 Motor- speed. 58 Likely. 69 Sweet girl SO Mineral resort. 3. IXHA NOUGHT PXAP TGOE TJP X 3TEET OBEHT KUFROG. -ByBnihM'.ltoJ 2. MY NDSNIHNYONP QTJKYI. HAHCNKX STtTCTJLIMSTNI PEGSZMQNP GNFNIMZ TJFN1NDSTJGNP TKPHGC OMAS SHOCKING. Edward S. lloy t 8.ISH ZESTLYTI OLXXSF TJVlATJXIt tSI NATURE OEKI.FKEEP JFDLX SOFSZNPKr. 4. OKRA BCCE SCYTX.T GIKR JC BQUfc KRRHKI SCRHYLY 1C JXL HKQJXMHI ELUCJLE' lOGICAllY. By Lois Jones' last Week's Cryptograms J. Poor old lemon picker resides Jn ramshackle shack. Z. Inc.imcs taxes arc exempt to jmlillcal pslrons. 3. Wen on safari may harass hutrgry young giraffe. Field Eutcrpritct) IDTl ;