03 Jan 1972
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Jan 03, 1972
Page
1
Ottawa announces two valuation days for the new capital gains tax Dec 22 for stock gains and Dec 31 for other assets. Half of gains from sales gifts or bequests become taxable income with exemptions for primary homes and items under 1000 dollars. Officials stress many Canadians will be unaffected and home values vary by asset category.
King Frederik of Denmark, 72, was hospitalized after suffering a heart attack. A palace spokesman said there is no cause for worry, and the monarch received the best possible care. Queen Ingrid and Princess Margrethe visited the hospital briefly while he rests. The king has had influenza since New Year’s Eve.
President Zulfikar Ali Bhutto announced plans for the unconditional release of Sheik Mujibur Rahman after further talks in Pakistan. Mujib, jailed since March, leads East Pakistan’s Awami League and rebels have proclaimed him president of Bangladesh.
Montreal police hunt three armed men who escaped with more than $115000 in foreign currency from the BOAC cargo terminal at Dorval airport. The bandits masked and fired revolvers and an automatic rifle, handcuffed six workers, and fled with boxes of money after forcing open the vault.
EDMONTON CP Passages of national farm products marketing legislation described as an important milestone in market stability by Unifarm President Dobson Lea. He urged commodity groups have bargaining rights and called for regional representation and careful council member selection to ensure usefulness. Uniform offered to assist producers using the act.
A bomb planted under a parked truck exploded in Calandar Street Belfast injuring 24 people, many seriously, with shops and offices damaged. Police said no warning was given and hundreds were evacuated as security forces searched the area. In a separate Belfast clash, troops battled 75 republican sympathizers at St Marys Club injuring two civilians and a soldier.
Premier Peter Lougheed and Health Minister Neil Crawford head a 24 member slate named Queen's Counsel by Alberta. Ten from Calgary nine from Edmonton and one each from Grande Prairie Hanna Lethbridge Medicine Hat Red Deer.
Senators dig in as the farm marketing bill stalls in committee with plans for royal assent likely January 10. The bill, C 176, has endured 70 committee sessions and 253 witnesses since its 1970 introduction, with scope limited to egg and poultry products initially.
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