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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 29, 1971, Lethbridge, Alberta PLAYGROUND WITH A CHALLENGE Nine-year-old Heather Wilcox clambers over square wooden posts at a playground In Toronto shortly before police closed it off. At least four children suffered broken limbs In the adventure playground in the first four days of operalion. The cost of the building was Grain credit sales reaches record total TtEGfNA (CP) Canada sold a record 145 milUon bu shels of "grain on credit during the 1970-71 crop year, Otto Lang, minister in charge of the Canadian Wheat lioarf, saic here. The federal government's lia- bility on credit grain sales lasl July 31 stood at more than million, he said. Mr. Lang was addressing the semi-annual meeting of the Canada Grains Council. He told delegates that one- third of Canda's wheat exports during the last crop year were made possible tlu'ough use of credit programs. "Just let me emphasize that, while Uiese programs help, tlie Canadian Board and the grain trade' are the real sell- he said. During the. 1970-71 crop years which ended last July 31, Can- ada sold wheat on credit to China, Poland, Brazil, Algeria, Haiti, Peru, North Korea, the Philippines, Syria and the United Arab Republic. Mr. Lang said although cred- it facilities of the federal gov- ernment assisted in making these sales, there is still room for improvement. "The credit facilities have been used to gain cnlry to mar- kets which have been closed to Despite its changed credit program for grain sales, Can- ada will find it difficult to com- pete against the 20-year and longer credit terms now being offered by tile United States. "For the most part, we must concentrate on those markets which require three years or less in credit he said. Mr. Lang said aid shipments of wheat and flour are making significant contributions to the total volume of Canada's ex- ports. Between 1965 and the average annual shipments was 33 million bushels of aid wheat and flour compared with about 6.9 million a year for the previous five years. Shipments of this type reach- ed 37.5 million in the last crop year, but Mr. Lang said this does not mean this trend continue. Some of those coun- tires which have been among the largest recipients of Cana- dian aid shipments expert to jecome self-sufficient in food grain soon. Because of the "vagaries of grain there is still a strong possibility that grains and grain products will con- tinue to make up an important part of Canada's future aid programs, he said. Mr. Lang said the grain in- Candiau grain sales because ofjrtustry, if it is to maintain and sales, must success- fully face the challenge of ad- justing to rapidly-altering mar- ket conditions at home and abroad. "The direct market develop ment activity required can not be the sole responsibility o government. I want to stress that government itself is not going to perform extensive market development opera- tions. "We are going to be in it with he told the grains council meeting. The council is made up o] various segments of the Cana- dian grain industry, includ- ing the three prairie wheat pools, the United Grain Grow- ers, the North-Wesl Line Ele- vators Association, several pri- vate grain companies, the Ca- nadian Federation of Agricul- ture, the Winnipeg and Van- couver Grain Exchanges, both major railway companies, rep- resentatives of milling, feed gram and brewing companies, and the Saskatchewan Associa- tion of Rural municipalities. The Lcthkidgc Herald THIRD SECTION Lethbridge, Alberta, Wednesday, September 29, 1971 PAGES 33 TO 44 Reflection of the ivorld's monetary ills Value of Canadian dollar increases more compctilivc credit terms offered by our Ihe minister said. ACCURATE INFO CALGARY (CP) Factual and accurate information on drugs and drug usage is being provided on invitation to Cal- jary high schools by a special police squad. Other objects of Jie special squad are to attain more successful prosecution of Irug traffickers and control drug usage among Calgary's youlh and to promcte better re- lations between teen-agers and police. By JAMES NELSON WASHINGTON (CP) The Canadian dollar has crawled up in value on international ex- change markets to near parily with the U.S. dollar, and Cana- dian officials here see it as a re- flection of the world's monetary ills. Finance Minister E. J. Ben- son, here for the annual meet- ing of the International Mone- tary Fund, normally has not commented on day-to-day changes in exchange rates since he Canadian dollar has been floating. But ho told reporters ilonday the latest rise results rom. uncertainty, brought on by he meeting, about the general irocess of world currency re- ilignmenl. Canada held its dollar to vithin one per cent of its old 3eg of 92.5 cents in U.S. funds or nearly 10 years, until the end of May, 1970. Then the up- ward pressures on it became 00 great and Benson ordered le dollar freed from its old eg. The only way the Canadian 'overnment could have kept the xchange rate down was to ave borrowed millions of dol- ars from the Canadian people put them on the exchange market. Such borrowings would ave driven general interest ates up even farther. When it was released from ic peg, the dollar rose immedi- tely, and since then it has fluc- uated roughly between 90 and 19 cents. ANK NOT BUYING What sets the exchange rate ow is simply a process of buy- ng and selling: the demand for ,anadian dollars by foreign uyers to pay for their pur- lases in Canada, and Uie will- ngness of Canadians to sell >eir dollars for U.S. dollars ley need to buy American oods. Benson said Monday the Bank Canada and the finance dc- artment's foreign exchange md have not been buying or tiling money in any volume, in 1 effort to influence exchange rales. The bank does enlcr the market on rare occasions fo prevent wide swings. All of the major world curren- cies, with the partial exception of the French franc and the Japanese yen, have been float- ing upwards since Aug. 15, when President Nixon forced them to do so by unpegging the U.S. dollar from its old fixed value of l-35th of an ounce of gold. Gold is stall officially valued at U.S. an ounce, but the American treasury will no longer buy and sell it at that price. The French set up a two-tier exchange market for the franc, using ils old pegged rate for in- ternational settlements between governments, but letting the franc float upwards for specula- tors. HAD TO LET GO The Japanese, after trying for a few days after Aug. 15 to hold the old pegged rate, had to let jo, but the Japanese govern- ment is still trying to keep the yen from going too high. After Aug. IS, while other cur- rencies bounced up, the Cana- dian dollar held a relatively even keel. This, said officials accompanying Benson here, was a confirmation that the Ca- nadian dollar was about cor- rectly priced in international markets. On (he eve of (he IMF meet- ing, when most of Uie financial world or major upsetting developments, other currencies rose in relation to the U.S. dollar. This is really a reflection of the converse, the weakening of the U.S. dollar in (be international teeter-loler. This sent the Canj.diar. dollar up last week, closing on the New York market Friday at i gosling (he Canadian dollar the international experts to U.S. dollar. Benson said up by the least amount among in an inlerview world currencies. just over 99.1 cents lo the U.S. should rise above par with the Ihink of Canada's dollar moving dollar. It edged down a fraction J----- Monday. There have been private re- ports circulated wilhin Uie IMF and Ihe Organization for Eco- nomic Co-operation and Devel- opment, based in Paris, sug- that no formal suggestion along Since Ihe Canadian dollar has this line had been made lo him been floating for 16 months, he as minister of finance, and il i said, its recent value should bo was "much more realistic" for i regarded as Ihe proper one. Fewer jobs found for Canadians Kalhnriup Hepburn sues for million Fonda declines to follow suit never consciously attempted to develop a distinctive voice. "1 just talk the way I've al- HOLLYWOOD (AP) Re- cently Katharine Hepburn sued a pickled herring maker for million, charging (hat her dis- tinctive voice usurped for radio commercials. Her fans. Hepburn claimed, had lur-n led to believe that she had "stooped to per-1 commercials when lie was start HENRY FONDA form below her class, stature, prestige and prominence." The voice, she said, was an imita- tion. Henry Fonda, whose voice has also been imitated by the hucks- ter, declines to follow suil. Fonday's distinclivc Nnhras- kan loncs have been faked lo seii tires, headache pills and other products on American radio nnd television, commer- cials. His friends are astonished to loam that (he voice is nol. his. "I've (lone a lot of public service (he heart drive, multiple sclerosis, musclar dystrophy nnd other he reports. "Rut I've done real commercials for only OIK company, G.A.F." Like nil famous stars, he Is flooded with rcquesls to plug Mils product or Dint. He turned them nil down. Tlwn last year his agent cnmc to him with (ho proposal from the camera firm which lie accepted. Fonda first learned of the iml- Biers' IBO of his voloo on other ing his television scries, The Smith Family. Potential spon SOTS of the series visited him on Ihe set and one remarked "We're not sure we are inter- ested in sponsoring the show i: Fonda continues doing commer- cials." He assured them Hint the voice they had hoard was nol his. Despite this potential loss ol revenue, the actor is nol consi dcring n suil a la Hepburn. IIi.< explanation: "II would be embarrassing lo me (o attempt (o argue that T had a voice that was so distinc- livc and valuable that I could sue over somebody else's use of it. t simply couldn't do il. "Besides, I think it might be n debatable legal point as to whether mnn's voice can copyright. The defendants mifilit say, 'We can't control this mnn's voice; he just hap- pens In Fondn'." sound like Henry The ftdor hlmsoll said he had ways he said. "If (here's any special tone, I sup- pose- it conies from Nebraska, because that's where I spcnl the first 22 or 23 year's of my life." OTTAWA (CP) Federal manpower offices have been finding fewer jobs for Canadi- ans each year since 196G, de- spile an increase of more than 50 per cent in their expediturcs in the same period. An answer tabled in the Com- mons Monday to a question by David Orlikmv North) power shows centres Canada man- placed Canadians in jobs in (lie fiscal i zation of manpower program" year 196M7, excluding casual' lolal SJ7S.551.000 compared with S3I3.J00.220 for Ihe same pro- the figure is gram in 1906-67. Much of the decrease in placements came in Quebec. The Quebec total fell from labor. For 1970-7 6M.966. Before federal employ- ment services were under the National Employment Service. It placed 19BS-06. This year's spending esti- mates for the manpower depart- ment's "development and utili- workers in 1220.5J8 in 19GM7 lo H0.83G in '1070-71. For (he same period, British Columbia and the Yukon fell from to The Ontario total declined from in 1966-B7 to in 197071. Tlie only provinces showing increases over the period were Newfoundland, Prince Edward Island and Nova Scotia. The manpower offices found jobs in Newfoundland in 1970-71, compared with in 1956-67. The figures for Prince Edward Island were 6.C4B and and for Nova Scotia and [important savings on four distinctive, top quality broadlooms made exclusively for Jordans by Bur- lington Carpet Mills. FALL of 'Fashion Leader" BROADLOOMS KAT11ER1NE HEPBURN SPECIAL FEATURE! Village Fail MulH-Color Nylon Shag at this low, low Sale Price Only Gay, carefree Nylon Shag. Exhilerating tri-colour harmony in each of the glorious new 11 shades. A boldly icufpFuraci pa I tern softened by Tip sheared pile. Muhi'.eofcured yams of pont Carpet Nylon. Trade Winds The more "civilized" Nylon Shng M 0 s duroblo nnd practical in a gala colour selection. The exciting colourful, care free Californian stylo of long pile Nylon Shag. Wild, tum- bled disanay of vibrant new colouri. 315 6lh Slroel S. Phono 327-1103 ;