’ Pone | 10,. The Herald, Tuesday, April 5, 1983 _waseINaror (CB) "the strength anddurablity of the ; ‘economic that most experts agree is beginning in i North’ Axne ed depend inl : ‘large part. on: the. rites and : mysteries of the U8.) Federal. Reserve System. . \ - The system, which ‘gets: trends ‘in, banking and money -. . matters — ~ governing indirectly the capacity df Americans , to buy and borrow, ‘conduct: business, or find work — is the % focus of debate among expert orilookers and. insiders: -alike; oo VAR issue. is whether the: 80 ewhat (secretive ¢ ‘decisions’. . "inside the fortreas-like confines'gf ‘the system’s Washingtor ae headquarters will help ¢ or hinder Tecovery, with ut: ceausin = another, round of inflation. ad fe Authorities ean’t even agree on ‘what exactly i is. going on = _ i inthe aystem,; although there is a consensus that its contral.” _ . of monéy and ‘eredit hasbeen looser i in the last six months * *, than in the previous three years. , : : The experts generally are’in acéord. that whatever’ is’ . going on now in the Fed,as the system is known, it will play - oo an important part in economic ‘developments. Further, the ~ "| Fed's: influence is felt abroad, most. notably. in the - King’s dream ATLANTA (AP) but ‘attendance was thin at rallies.in several U.S. cities marking the 15th anniversary of the black civil rights leader's assassination. Leaders of the Southern Christian Leadership Conference announced plans for a mass march in Washington on Aug. 27, the 20th anniversary of King' 3 famous ]Have A ‘Dream . . speech in-the country’s capital.- “We don’t look like many, but we moved this nation once’ and wecan doit again,” the Rev. C. T. Vivian, a conference . board member, said in an apparent reference to the crowd: of about 250 people at a ‘Jobs and peace” rally at the Atlanta federal building. ’ The size of the crowd in King's hometown of Atlanta was similar to that at rallies held Monday in Memphis, Tenn., Anderson, Ind., and Little Rock, Ark., to -mark .the - anniversary of. King’s assassination April 4, 1964, while leading Memphis garbage workers in a protest for. better “pay. Jarnes Earl Ray, an escaped convict, pleaded guilty to the murder and was sentenced to 99 years in prison. About 250 union members, carrying placards demanding jobs, health care and a national holiday on King’s birthday, turned out in Memphis for a march from Clayborn Temple to the Lorraine Moiel, where King was shot. Despite clear skies and good weather, the turnout was one of the smallest ever in Memphis for the annual-tribute. - owen Fewer than 1,000 people gathered in Anderson fora rally to mark. the anniversary and call attention to the plight of the unemployed. The Rev. Jesse Jac lieutenant who now heads Chicago-based Operation PUSH — People United to Serve Humanity — had predicted 10,000 _ people would turn out for the rally in recession-plagued . Anderson. oo | - All About PEOPLE Brice Allen was once. bounced from the board of the Canadian Academy: of Recording Arts and Sciences because of his.outspoken criticism of the Juno Awards. Now he sings praise for both the academy and the Juno Awards, which it administers. ' But Allen, who has managed Bachman-Turner overdrive and Powder Blues, and currently manages sich hot acts as Loverboy, Bryan Adams and Red Rider, is still outspoken. : _ He levied a scathing — some say tactless — attack © several weeks ago at singer Anne Murray, a perennial Juno winner, who has been absent from the proceedings for the . last. three years and will not be present tonight. ' “T think she’s won about 20 Junos and it’s time she € came out again and said. thank you,” Allen said. . * When the original King Kong climbed the. Empire State ‘ Building, it took a:matter of minutes, When an.inflatable’ version of the great ape did it, it took most of a day. A 1,360-kilogram, 26-metre balloon: Kong was hoisted up. to the Empire State ‘Building’s mooring mast Monday as ' _ part ofa celebration of the ‘oth anniversary of the film King ’ Kong. The mast originally was designed as ‘an anchor for lighter-than-air ships, but was never used for that purpose. - Sari Davis, a spokesman for building management, said the balloon will be inflated at sunset on Wednesday, and will _ remain there for seven to 10 days. Promoters have hired biplanes to circle the ‘vinyl nylon creature later i in the week, aping the final scenes of the movie.” |. A plaque commemorating the film is scheduled to be unvelled at the loz-storey building Thureday: Kakuel Taneka discovered, He was named ai birth after the then premier of Japan, who was enjoying immense popularity at the time. But after former premier Tanaka. went on trial. for _ allegedly taking a 500-million-yen ($2 million’ U.S,) bribe | from the Lockheed Corporation, the young lad from Osaka ‘suffered such bitter taunts and jeers about his name from school chums his parents applied toa local court to legally change it. : And this week, the court ruled that being named after the. _ how-infamous Tanaka was a’ hardship no ‘youngster should © have to bear. . “The unsuspecting lad will now enter junior high school legally armed’ with, ‘an alias..- Assistant District’ Attorney ‘Odell Guyton said he and defence lawyer James Binns, also chairman of the Pennsylvania Boxing Commission, negotiated 4 suggested “ sentence in exchange for the plea — a fine of $1,700, plus $70 in court coeis — which was accepted by the presiding judge. eerie The jewelry that Diana, Princess of Wales, wears wien she’s going somewhere special ls not only dazzling, but - worth nearly $1.5 million, a report published ina London newspaper says. An unidentified expert on precious stones figured they’ re worth, $1.47 million after - studying. photographs: of the: - princess wearing her Horas, pearl chokers, necklaces and ._. earrings. 3 ot . _US. F ederal Reserve i discussions but do not-vole.: . . The committee decides how the binking system: should” - operate in future weeks, attempting to balance demands for’: credit ‘to promote ‘business expansion. against, the need’ to ° _ The political heirs of! Rey. Martin ; _- Luther King Jr. called Monday for a mass “coalition of . consclence’’ to challenge Reagan administration policies, . n, a former King — " What’ sina name? It depends on the name, as 12- year-ald , World light-heavyweight ‘boxing champion Michael” - Splnks, 26, apparently not satisfied. with-the natural weapons at Lhe ends of his arms, pleaded guilty Monday to illegally carrying a firearm without a Ilcence on a public - harmonized operations of iis Hawa comt of! Canada... : ~The - Fed's board of. experts ‘consists: the eve emors “of the US. ‘national system ‘and the 12 president: se eae federal reserve ae arid Is mover by‘ ve VO pow Fon policies. The ‘voters Aneliide: the six Fed governors led by ‘Chairman. © = New: York, arid: four: of ‘the, IL ‘remainini epional ‘bank. ‘presidents, : “who serve on ‘the: voting par 4 - rotation. ‘The other, seven regional presider may take part restrain the avallability’ of money. to prevent. inflation. offered again” Abou ry to 100: people, meanwhile, altended a “rally in | Little Rock. ‘At the Atlanta rally, which was to be followed by é a “tive- hour prayer r vigit at the federal building, the focus was on ‘the Reagan | administration's cutbacks in social ‘welfare " ‘programs and record defence spending. ; With the crowd: carrying signs proclaiming “Bread not bullets,” and ‘Jobs not jails,” Walter. Fauntroy, the District of. Columbia’s delegate in Congress, urgéd a massive turnout in Washington to “drive from the positions of power those who in thy past 24% years have perpetrated the most incredible transfer of wealth in the history of this - country, frorn poor to rich.” Fauntroy.said the Aug. 27 march will bring together ao “new coalition of conscience,” including civil rights groups, _ churches, labor, the. women’s movement, . the peace _ Movemnent and environmentalists. a Monks labor. MUENSTER, Sask. (CP) — Above a grove of evergreens | a silver bell tower rises sharply into the prairie’ ‘sky. marking St. Peter's Abbey; a community. of Benedictine ‘monks located 110 kilometres east of Saskatoon. . The communily is timeless, yet contemporary. In the business office a computer spits outa mailing list of St. Peter’s Press, a - low-slung modern . plant. where gleaming offset presses produce the. -14,000-circulation. Prairie Messenger and other publications. . . : While technology works its wonders nearby, 20 black- . robed monks file into the oratory five times. a- day for morning mass, songs, prayers and reading from ‘Scripture. | Prairie sunlight refracts through stained glass and splashes: over the bare walls, oak péws and black robes.” A blend of piety and labor — echoed by the 1 .500-year-old Benedictine motto “to pray is to work, to workis to pray" has given strength to the Rule of St. Benedict, - a-set of precepts for monastic community Iie.. The rule's 73 short chapters are ‘neither original nor vn brilliant. . ° “Benedict goes for eight pages on, n how io pray and at the end says, if anyone has.a better idea, to try it,” said Father Maurice Weber, commenting on the rule’ s- ‘humanity and . flexibility. Benedictine monks are a \ relatively liberal order who believe Benedict's call for simplicity does nat demand rigorous austérity for its own sake, But the central vows of the order — poverty, obedience and stability - are observed closely.: . ‘The monastery began 60 years ago when German settlers purchased. 40,500 hectares and asked the church for heip. For 50 years the monks operated a residential high school. * Ashortage of monks forced closure of the high school but - . gave birth to St.. Peter's College which: offers first-year - , University and vocational education courses in affiliation with Saskatchewan universities and technical. institutes. ” Recently the monastery has begun to albract a new breed ‘of man interested in monastic life. One of those is Kurt Van ° Kuren,- 32, a Toronto pop musician: who toyed. with Buddhism and taught yoga before becoming a Catholic three years ago,- i 's better to work within your culture than to graft’ . things on to it," he said. ~ Van Kuren feels no reluctance to give up his suede jackets ‘for blatk Benedictine robes. . “Thad a preconceived notion of monks as being out-of- the-way people not up with the times,” he said, ‘But the fact that they live this life hasn't detracted from their ability ‘to understand the world around them." Abbot Jerome Weber, 67, said he sees a new trend toward .. Monastic life emerging in modern society. : “More and more young men‘and women are disillusioned with the salvation that the world offers,” he said. “There's a general trend toward more interest in: the spiritual life _and life of faith." Father Maurice said that. monks historically played a. vital role in preserving scholarship, advancing agriculture — and enriching the arts. Today, other. social needs have ‘- ‘replaced these. . The monk's call-is “‘to go beyond the ordinary,” he said, In rejecting today's materialism, monks accept a life on ° the fringes of society and challenge itto “ask itself what life . . 16 all about,” he said.. PICK UP & DELIVERY 638-8195 Radio Message Answering. Service for Pager No.31 BUSINESS ROAD RUNNER ‘SERVICE TO. -TERRACE—THORNHILL-— _ REMO-AIRPORT _- EAs GARNER LTD. _Tertace Bus Terminal 635-3680 This is'a ac mplish | ring ‘amotint of money.and credit in’the’ cottunercial ‘bankln system by controlling: the. ‘proportion. ‘of funds“ihe: banks: prepen who: have publicly supported the Fed’s: trends. : ‘k \the’ augury, thus seems to be a continuation’ 0 iBolig eryth *eneduragiig low interest rates to mde the el ty fit th ing. from : _congumer goods ‘to’. | hopes t that, inflation can be ke apt under eons tend to regulate" oC must’ retain in ‘in reserve. with. the: Fed. This, in turn,: governs” the price’ ‘of .morey — the: interest’ rates charged. on- .. borrowings for : - the pace of: By ~ issued May 27. That will be three: days. after the scheduled ~ May. 23-24 committee meeting, when there: ‘could be. yet ; another, shift... What 3 ig known b date is- that the Fed. -d chianged rasseton! “last October. ‘by: majority décision and: ‘thal the. governing , : gommittee was divided « on that change 8 Fecently as, mid- February.’ Spe The fundamental change involved a shite ast fall, away’ \ oe ‘from what some regarded as strict: adherence to so-called . - monetarist policy since 1979, whereby the, Fed set atarget range’ for’ growth in. the: volume. ot’ ‘money and credit. Instexd, the: system was geared’ more: ‘toward: governing : price instead. of. supply, interest; rates. instead: of. the. _available volume af ‘money: ey However, there is disagreement -even abou: the “broad trend. Some monetarists aay the Fed veered from the true. , ; faith even, earlier - thereby not’ giving the doctrine afalr test — while’ ‘opponents say. strict: monetarism contributed to the. recession ‘of: the last two. years. 3 Among the ‘Bub- plots j in ‘the argument is. a debate. about what’ definition: of money or. interest: rates. are being - ‘controlled properly. ‘Different growth: targets. are set for Mi, the narrow aggregate. of cash.and. .Chequing-account " money readily available for transactions, or the broader M2 and M3 categories, which include other. money instruments ; such as restricted savings ‘accounts, : There is even a definition of money known. as L, which includes, investment assels: that could’ be converted into cash: officially as a more pragmatic approach to assist etonomic > recovery: and to adapt the system to changes in available : ‘gaving and investment programs. Do, _ Critics said the change was due to political pressure from the Reagan administration and Congress in, advance of the ‘congressional elections last Novernber. Some. gay the Fed is planting the seeds of renewed inflation: hy its more relaxed approach: =: It turns out that the Fed committee split B to 4in aelting . Policy. at the February committee. session, an. unusual - degree of dissent. The dissenters differed-in detail among | * themselves, but generally sought tighter control of Mi. business f the, ‘four disgentets were Téplac mittee Last week in normal: anhiial rotat, To guard: ‘against market manipulation by" ‘outsiders ‘the : “Fed keeps its decisions secret for six to.eight weeks. Thus,- |. ’ for: example, the’ minutes ofa: Feb,’ ABED: ‘meeting of the’ * ‘Fed's: Open Market Committee were published last'Friday. . ‘The minutes "of. last “week's” ‘nesting’ = = When, for all - . outsiders mow; the: “policy: might. have shifted - — will be” “Addtnnal svat ios ere Associated Store. ‘TOON GRANT. ENTERPRISES LTD. : +112 DIFFERENT STVLES, = Ee . AND COLOURS ee oe oh 012, 000 GARMENT SELECTION. «B.C.'s LOWEST PRICES . -“GRADUATIONSPECIAL | a3STYLES — $9400 VANCOUVER. PRICES. TAR MEN'S & LADIES: 1+ 254 Cy Centre a614 Greig Ave.’ Kltimat, B.. VOC 176 : Terrace, eles ave - +HEBAY. a MANTIQUE MENSWEAR EL . 301 City Centre 4741 Lokatse Ave. : * Bo Kitimat B.C. VEC TTE ~~ aller oa Rs Oo, wes ~ OO22115 : em : — ie _ will pick up extra. garbage and retuse, free of _ > When the Fed Open Market Committee decided to relax “4, control ‘over various money categories, it was described garbage and waste material set outon your regular - _plck-up day. If possible, have garbage and waste _plekup, ‘ ‘ealendars, ‘as garbage pick-up days will change. SPRING CLEAN-UP WEEK - April ith to 15th, 1989 The District of Terrace’ Public Works Department’ charge, fram Monday, April ith fo 0 Friday, April 1sth, 1983. This service does not include car bodies, stumps or Industrial waste. Kindly arrange to have this extra |. material In plastic bags or cartons to assist in the: . Residents are reminded to check thele Add. a-Day following all statutory holidays. : The DistrictofTerrace - frectord PROPANE AND ay WELDING ee 166. LiQuiD GAS LTD. 4516 Kelth Ave., Terrace 635-2920 625-9158 oe — - Grow your. ‘own fresh semaines. Ang. egatables with... NATURAL GAS NG APPLIANCES. SUPPLIES @Oxyoun and Acetylene ‘ baaoe es of i @Smith Torches aiete ee @are Welders Qevolirmaster @Weiding Rod and al! Gas BBQ's accessories ond parts ABVAN: BUILDERS | LTD. Residential “Commercial © Custom Homes 635-5628 | cr curs. 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