| Poge 2, The Herald, Thursday, August 19, 1982 da ally herald a Pubilahed. every weekday at. ‘10 Kalu ‘Street, a ’ Authorized: as. second: class. “Fall. ‘Registration: Bhutan: J5-4 Dhl) 55-4000 Co “Pah Garty Husak : Editor: mo “Brian Gregg Advertising Sales: r ' Terrace — “David Hamilton “st 'weiter-Photographer: Sports: ~~ Kelth Alford. "a, Don Schaffer. _Recaibe-Clasted: a Maris Taylor ; . NOTICE'OF COPYRIGHT. . . Tha Herald retains full. complete and sole copyright ~~ in any advertisement produced and-or any editorial ‘or photographic content published -In tha Herald, ‘. Reproduction is not permitied without the. written, permission of the Publisher. i Gains reported — NEW YORK (Reuter-CP) — The New York Stock Exchange had the busiest day in its 192-year history Wednesday with 132.69 million shares changing hands in a frenzied trading . session that followed Tuesday's spec- tacular gains. Toronto continued to ride New. York's coat-tails while. ~ Montreal and Vancouver also reported Jarge gains. . In New. York, prices remained mixed, weakened slightly. by profit-taking that intensified in the afternoon, but many - stock market anatysts saw this ag a “technical correction’ after Tuesday's gains and insisted the optimistic bulls’ had taken over from pesamistic bears. The Dow Jones Industrial Average, the key market in- dicator, closed at 829.43, down 1.81 points on the day after rising by as much as 18 points in early afternoon just before | the number of shares traded passed the 100 million mark for the first time. The previous high was 92.89 million on Jan. 7, 1981. Toronto finished the session up 6. 01 points to T4714. 93 . Wednesday, The trading volume was 11.8 million shares — - to represent a a value a ‘Terrace, B.C: by Sterling Publishers ‘Lid. :: 7: mo ‘Number W201. Pastageipald in eashn return nea ee OTTAWA (CP) — August, 1969, ‘anda cloud called — a "Perea f ptt Trndeau haeP ben prime mini fob : 472- days and had just finished’ Bparring: ‘with prairie farmers: ‘about wheat: sales — “bustle arain fat: : i women" their protest signs aald: |. The jobless rate was moderate by ‘today's? tan” _ Gards, 3.7 percent, the dollar was still pegged at 02.5: cents US. ‘and the ¢ economy. waa arowing at the rate . , of nine per cent.. _ #250 million, no great sum’ even then but the. first _ sinee 1956-57, : A ‘portent of the inflationary pressures at. play was . the fact that the Bank of Canada's lending rate to - chartered banks was a record eight per cent. ” Why inflation? | _ One big reason’ was Canadian interdependence on the U.S. economy, whose mighty engine was ‘straining to. provide billions of doHars for bombs and guns in Vietnam and even more butter for the home folk, be, ‘The rate of inflation for Canada In 1968 had inched Up to five per cent and was 4till cllmibing. . "Hence tlie appearance in Ottawa Aug .6 of Van- | couver academic George Young, new chairman of a Incomes Commission. His mandate from the Trudeau: government was to pursue a countrywide Consensus oneconomic restraint, selling business and labor on a + to two per cent in 1970, Young failed. -So- did: finance minister John Turner when he. sought to resurrect voluntary restraint in 1074 for an economy ravaged by rampaging petroleum and other | commodity prices. Trudeau applied a three-year program of man-. datory firice and Wage controls from Oct, 19, 1975, . - through 1978. Upshot: “The anti-inflation program - appears to have had only a modest impact on the. price level, a more significant impact pa salaries and wages and a negligible impact on profits,” SAYS a study by’ economist. Reginald - Letourneau of the Conference Board of Canada, a private.. research organization. Now, with unemployment at. a post-Depression peak of 11.8 per cent, inflation running at 10.8 per cent - and the bank of Canada lending rate about 15 ‘per -. cent, the Trudeau government has Jaunched yet another variation of controls — part mandatory, mostly. voluntary. but with: as much government muscle as: Possible being applied to bring inflation _ down to six per cent the first year and five the second: It has been a long road.since Young set Trudeau's . - first inflation- ‘fighting machine in motion years ago ; - Aug. @ Aug. 13: Trudeau rules out wage and price Sontiols . but says, 10,000 civil servants will be fired, orders a broad spending freeze and blames tising government : costs on shared programs with the provinces.: _, Nov, 6: Young says he'll urge a prices review board highest volume Binee Dec. 21 — dod at dis, Bia fol 1,766,037 shares. That répresented’a rise of 5.77 aun me oF - ° Tuesday but down from the session high of 256.22. Van- - _ouver's index stood at 750.02 on a volume of 7,288,421 shares, up 15.39 points from: Tuesday's close. . Tuesday’s surge caused the U.S. dollar at fall in value on’ foreign exchanges while gold billion soared $21 U.S. to close at $358.75 an ounce in London. The Canadian dollar dropped 13-25 in New York to 80.35 cents U.S. while in _Montreal, its U.S, counterpart gained 4-5 ie lose at $1.2446, Wednesday’s hectic buying and selling Spree came after the index soared a record 38.81 points Tuesday In a rally " sparked by optimism that Interest rates would ‘continue to-: fall. Henry Kaufman, chief economist at the investment firm of Salomon Brothers Inc., and Albert Wojuilower at First | Boston Corp. stunned the financial community when they advised their clients early this week that interest rates are heading downward over the next 12. months. For months, while other analysts cautlously: forecast market recovery, Kaufman and Wojnilower..were con- sistently dishing out ‘projections so gloomy they. were © dubbed the bad news bears by their Wall Street colleagues. --. “There's a most optimistic mind set now that: will — probably hold the market higher while it waits for evidence of improvement. in the economy,” sald. stock analyst Michael Metz. : “It’s not unusual to run into a lot of profit: taking afterthe ~ kind of rally we have seen," said analyst. Chester Prado,. Metz described the market.as emotionally tired after the — excitement of tha last two days and predicted “hacking and filling” activity | today, But investment analyst Monte Gordon, ap appearing on PBS _ television’s:MacNeil-Lehrer Report Wednesday, remained” skeptical, saying the problems of fhe economy were not solved by the “‘simplisti sen of. lo ei bo. rates,” ” Gordon, research director, Ip.; predicted that by late September of e iy Bc. would need proof that lower nt rept of helping the economy. For lan MeAvity, 4 independent. Toronta stock analyst, the euphoria turned to fright'wher he ‘watched New York drop off in the afternoon.’ = “I saw It drop off after lunch and I thought My God, It’s - going to do a free fall’ and then it just hung there,” he said. - “When they follow up and sell off I’m scared, They sold 200,000 shares in two days. We're just not used to that." He said he expected both markets to be weaker after opening today. * Said Colin Thatcher, an analyst with Dominion Securities ~ Ames Ltd. in Toronto: “It could be a flash in the pan, but " then a lot of flashes in the pan bring the amall Investor back. to the market.” However, Thatcher anid he ‘believed the New: “York - matkets are in better. ehape than Toronto, . “We're being draggéd up by- its caat-tails. There! sno other reason-for it: Trudeaw should. think himself Jucky te have a neighbor as big as the US Robert Parsons, a technical" analyst. at the investment - firm the opposite ‘end of. an equation that has been dominating financial markets for the last year: as shori-term interest: rates rise, investnient money is drawn from the bond-and stock markets, 49 short-term rates drop, Investment money: ‘flows back. “We've had a major decline In U.S. short-term bills, : - “On the dark side of the Kaifman - and Wojnllower projections, the two mea are optimiatic about short-term interest. rates: because they are pessimistic about the — chances { economic improvement: - There won't be 01 the money supply that there would be fa a time pa iberad - Pembina hills of southe: Fry Ltd., said this week’s trading was partof — with teeth ifhis ear a put even then a i) Ea g 4 ° Sept.” | 1 Bu : without warning. Plumptre, j in food prices Review Board speech, says if there’s one main.cause of in- _ flation, "that villian is government, ‘federal and - provincial.” The August jobless rate of 7. 3 per cent is ~~ the Worst Since 1961, ° . ‘Sept, 26: Triideau says the economy ig in serious . trolible arid renews- appeal for “co-operative and | voluntary restraint."” : Oct. 13, Thankegiving Day:. Mandatory price and -- ‘wage controls are imposed for a three-year perlod to - _ * @ndin December, 1978, Limits are 10 pér cent forthe first year’, six for the second and four for the third and | - appeals are made for. provincial co-operation, with mixed results. About 8,000 companies eventuallly will he affected. . Dee. ‘18: A spending cut of $1.5 billion announced, including year-long freezes-on the salartes of MPs, “senators, judges and senior public servanis. -But * spending for the fiscal year 1976-77 will still prove to be $40 billion, a rise of 18 per cent. July. 12, 1976; Supreme Court of Canada upholds 4 4 ~ Teacher collects marine fossils MORDEN, Man, “(CP) — Winkler high schoo! teacher Henry Isgak ‘calls it his summertime habby but without his’ work thousands of marine fossils from the. low, rolling Manitoba might be lost. . With the ald of employees of Pembina Mountain Clays Ltd. such as foreman Dale Roberts and bulldozer operator Roy Friesen, Isaak and his Volunteers have assembled an “enviable collection. Dr. George Lammers, curator of paleontology at the’. Museum. of Man and Nature in Winnipeg, says the misnamed Pembina Mountain area, just west of Morden, is' ye the most productive and significant marine fossil site in Canada, - nat p price wage je contr ‘si 7 inflation hung persistently on, the eoomarnle hari *~pompanies to give 30 days’ notice of price increases -just-appointéd organization called the Prices ant. voluntary program, that would push the inflation rate _ 7 er, cent intfouriyears. + ' says he'll talk ‘about restraint but no promises. ___ dune 23: Turner budget rejects controls on grounds action,” v which still doesn’ exist. ‘wight per Contin firs yenr of Ike meoguam, For the 7 “full year of 1976 It will prove io be 7.5 per cent com: _ area 308 percent a year sarleg and he Jobo ‘Fate’ ‘will average 7.3 per cent, 97: Unemplayment hits peaks of 8.4 aid 85 per -Ceat, worst since, 1940, with the consumer price index” - at'year ond up 0.8 per cent, . monetary markets in 1970, hits. a 45-year low of Be us! - “April M: Task of ling. contéols tegias. Dec. 31: Controls ended; inflation rate 8.4 per cent and jobless rate 8.1 per cent.’ Spectal monitoring _ apparatus left tooversee reaults, Anti-Inflation Board had revised more than 20,000 wage contracts, using more than 900 employees thrown together for the Job and eventually requiring the country's’ 200 largest exceeding six per cent. d Russell MacEwan handed, down the eentences: -f. We following an-inel t Bt Our Lady of Lourdes “Romdh Catholi¢ church in Stellarton oa June 27... | said worshippers at his church do not: have the option of . . . 4 Feb. 26,1978: Dollar, freed to float on tateenational ” -reeel ving ni while kneeling, as the sx assed on ‘A June budget had actually called for a surphis of = March 23, 1970: Organized Jabor: rejects Young's | - appeal for restraint, following conditional agreemerit . -- by business earlier to limit price Increases to ‘coverage of higher costs, - June: 26, 1972; Commniisaion’s- final’ yeport says temporary wage and price controls might work only if backed solidly by public and governments. A handful of public servants continued work on .“‘con- tingency planning" in case inflation worsened. _ For whatever reason, inflation had- ‘been held to 1. 5 per cent in. 1970 but the Jobless rate had Gonetoé.éper — cent. - i> Oct, 30, rr qrudeau’s Liberals are reduced. ts a minority government’ in the tightest election” in Canadian history... . April 2%, 1973; Food Prices Review Board ealablished, headed by Beryl Plumptre, to monitor . surge of 36 per cent over a full year.. ‘June 12; Trudeau repeats that he has contligency plans for’ wage and price controls as the inflation rate rea Aug. 18: Trudeau is under steady pressure ‘trom Progressive Conservative leader Robert Stanfield to. freeze the economy for 90 days: But he insists | man- datory controls would “not only be fruitless but . harmfu) to the economy.” Sept. 4: Trudeau reacts to. rocketing petroleum. . prices. with a freeze to Jan, 30, 1974. Year-end figurea_ ‘for 1973 will show the worst inflation rate in 22 years, up 9.1 per cent over a year paced by 17-per-cent rises in food prices, - July 8, 1974: - Trudeau Liberals | regain parilamentary majority with effective sniping at the Stanfield controls Program. The inflatidn ‘rate is Tanning 11.4 per-cent over a year eariler but the _ jobless level is down to 4.9 per cent, lowest in four years. July 22: Bank of Canada leiding + rate reaches record 9.25 per cent.: ; Sept. 10: Food Prices Review Board says wage ‘and price. controls. would have been no help in Canada since North. American food Prices alone had risen 38 sng ge teterala | Noy. 2p: Finance minister Tumer. tells provingial.., premiers of a fresh two-pronged attack on inflation - comprising renewed appeals for restraint and guides — on what lével of restraint business and labor should ‘exercise. ' Dee. 11: The consumer price index, best indicator of inflation, is 12 per cent higher than a year ago and president Joe Morris of the Canadian Labor Congress Jon. 27, 1975: Turner tells @ Toronto audience that “wages and prices now are the main cause of inflation ; and labor's angry denial forecasts end to voluntary restraint efforts, _ April io; Joblessrate rises, to7.2 per cent, a follow-- no ip to the last quarter of 1974 being the worst in 14- years, Turner outlines slx-point restraint program to buslness world, limiting wages to increases in cost of | living and. prices to coverage of fresh costs, May 24: Business reacts weakly to proposals, ~ they depend on “public conviction of the need for such | <[slAlbernt Valley is the/atpa hikdeeit hit by ie Rbest mutket | ‘lump aid some members have bean’ Gib efi wétte fora years & -E. The Canadian Press - powerful elongated jaws on ‘alligator- -like ‘bodies: Other specimens include once-ferce plesiosaurs, 15.25. metre-long, flat-hacked reptiles with long, triangulated. ~ jaws andlarge paddle-like flippers, archelon turtles the size’. of pickup trucks and ftightiess birds with teeth. - tle hills,’ Isaak -says; - He went tolook and “They were allo over the place. and ‘Lammers identified the fossils as the fingers of a: plesiosaur. Later, Isask visited farmers-and found prac: _ ‘The fossils found in pits dug by bulldozers mining ben-. * Healy the entire skeleton of the plesiosaur. tonite clay include giant squid up to 18 metres (60 feet) in length and a 15.25-metre-long mosasaur, a reptile with “One guy had the. whole skull out in a pail in his barn," " Feaak said. ‘Another guy had a complete filpper.” Isaak and his friend Don Bell filled up their. barements.. “and garages ‘with ‘bamples, at first knowing nothing about: _ the care of fosails,. - Fire fought TORONTO (CP) — — People waved frantically from their. . apartments: today as smoke and flame poured from _.18th-' - floor windows of the Hotel Plaza If near the busy o downtown . intersection of Bloor and Yonge. . : - Police using bullhorns were ‘attempting to calm: ienants” > trapped tn their apartments above. the floor, where the fire raged.” ; Be gt Firefighters have already reicued rive persons from the.’ -smoke-filled 18th Moor. There were 25 fire trucks. at ‘the ; three-alarm fire. . "Because the power: tn the bitin “was ‘shut, “off: the ’ elevators were out of service and! ters had to climb’. : 19 stories. to reach the floor above the blaze, 2; . One firefighter wa taken to nearby Wellesley Hopital . suffering from smoke: i ie ; A Metro Toronto ‘Ambulance Se: : spokesman sald two buses and 10 ambulances were atthe Hire-and 4 helicopter. ‘WAR expected to reach the scene shortly. a Break tes . “tte exciting, -reaily éxel is , ~ Suddenly overcame with this terrific feeling of being the’ ” first-person to see an, extinct animal Anat wan -alive, a. “We didn't know what we were. finding and we: didn't: know how to go about removing it properly. We just hauled. them out and worrled: about them afterward. But- we. couldn't yet any help. We desperately needed information. uy ~ They began to research the rudiments of prehistory and. a Hie speci{p of .drine paleontology. In 1977; they recelyed ‘a - . grant from National Museums’ Canada to build a.paleon-: - tology museum‘in Morden’ ' recreation centre : and: leak, <> couple of | hinge to do was named the curator." isan: saya“ “million years ago." - He said the Pembina’ fomtils are unusually ensy y to get at. “t' B awesome, ‘The. quality and quantity of the fossils . . here:pull you in, They’ré-to accessible, ‘They're’ not em:. bedded’ ‘in Weathered srodk like the ones ‘in’ Kansas ot Alberta. ‘Ours our buried fo loge shale atid come out: quite. easily.’ ” ” He doen't et him rest ame) he has identified each fossil: and. if: book -can't provide:-the’ answer ‘he, takes the specimens. to bomesna who can. “ut r “Otten, ve ated years ta deters what a aingte bone 8." Woes mm anal se a 4 { : — te I: vet a ‘réliglous worship service were Rossanne ‘Bkoke-.' ” Grabani, ‘Kathryn Doris Skoke,-Christopher MacFarlane, = ‘all ‘of Stellarton. The offence 1s contained, Under ? -Bection:172 (3) of the Criminal Code, . 74 _. VANCOUVER (CP) — The leader of B.C.’a biggest forest ‘ union sald Wednesday the forest industry should be blasting . “away at governments to reduce interest and mortgage. : national: Woodworkers of America, made the comment employees, must. reduce wage costs. ° - executives, meeting in Toronto, declared their support for . mortgages, imposing: exchange controls and-other Ways to _ labor movement, and our union in particular, to knue woman plan to run for Parliament aa one joint candidate: _ - such a golden opportunity, she could be he?) "held boiatldi at ut ocsurredtome bow gt an (“lire la work to be dane!” ane te| Poor posture — gist oc : Oe - have been sentenced to terms of six months. probation... ‘Convicted of wilfully disturbing the order and solernnity “MacFarlane, Rosalie Hafey and. Margare} *” : a Bishop William Power, during teatlinony Wedaeaday, i doing. . Paver maid a directive issued by bin stating communion ‘can only be received standing was read twice during the ‘Jume 27 service... “Those who wish ip diaob the directive must accept the ‘ consequences of their actions,” he said..“‘in faith Ahey accept it as thé Lord's will.” - Inhisraling, Judge MacEwan said there was wo doubt the - action bby the six was done wiltly in disregard to.the Forestry blasted rates, not pressuring its own employees for lower wages. % ' Jack Munro, western regional president: of the Inter- from Port Alberni, where only 150 of the IWA local’s 6,000 _ members are worldng this month. ; . ' He was ‘responding to a statement from chief fotéat in- dustry negotlator Don Saunders, who sald even the federal government’s six and five-per-cent wage guidelines ere too ' high for B.C.forest companies. Saunders said the companies, which have ean union Saunders’ comments ‘came after foreat. company a Ottawa's six and five reatraint program. » p “The problem is not wages,” Munro said. nt ‘a hie in- terest rates. and mortgage rates, “It's obvious that the business community and now the forest industry have jumped.on the (six and five) band- - Wagon and that they are prepared to fight to the last ‘drop of “our blood." He sald “union leaders met Prime Minister Pierre Trudeau earlier this summer and talked about lowering | boost industry and ease unemployment. . - Munro said forest companies “cannot posalbly expect the under to their nonsenge’’ when the industry is not active! ‘ opposing government Policies that result in 18 to 20-per-cent mortgage rates. - -“Tdon’t now what the hell the industry is doing as tar aB the people In Alberni are concerned,” said Munro, who is currently touring B.C. to visit IWA locals. He said the "Beyond reason . By Bruce. Levett “Margaret? Pierre. Drop what you're doing... (In the background, there is the crash of eanicding i moo ; goo gai pan. Blast! Why must the woman’ always take him ‘80 literally?) . : "7 have come upon an Interesting new comcept, be ex plains. . It seems. that, in England, two people — a man ‘and a. “But, Pierre — I didn’t think you approved. . “That's joint as in one, or combined, It would, however, _, involve us getting back : together agaln.”"~ a : She sighed. oan ‘. “Tve got to be ne.” she sang. : (Curses! How could anyone wish to be she when, given “Possibly you misinterpret.” ee ” He went on to explain that the twa Britons contend that a. two-candidates-for-the-price-of-one scheme would result in - the splitting of the legislative work load. It would bring to ¢ . bear extra skills. it would allow more time for family life. an ia . The two are taking steps to merge their names, calling . themaelves Ron Bailey and Mary Evans and Mary. Evans and Ron Bailey respectively (for, indeed, t these are their VE names.) ‘t “in 1973).when I Was still going te the U miveraity. of : “Being already wed, ‘you would become Margaret and. : Manitoba and was home for the summer, a Total farmer’. - told me and a friend that he found somie teeth fossils ‘up in na Pierre Trudeau. 1, in turn, would be Pierre and ‘Margaret “Trudeau,” 9" ; . "Would 1 have to: wear a rose?” ~ “Not necessarily.” She. was dubious. . “Think of it;” he pressed. “When I; eventusily, abuts at ‘ .. this mortal coll, there would’ be no need for a byelection’ ‘because the seat. still would be occupied: -By you. Jastin _ could move in‘as your seat-made and then.— when you. | finally snuff it tere wil Ibe another generation a waiting in “the wings. . : oo A (Gad! Didthe Windsors st btart out this way, doy you think?) any “Well? How about it? And, incidentally, what are‘you. .- | doing whipping up moo goo gai pan at. breakfast-time?”” . ‘ “It's anew recipe I'm feat. Teall it‘ moa 0 Kod ual pen nu créme flambe, Utes or at . cove have to oe ea. you seca Pierre have a a ! BA, “Such apt! 0 ma : “| Wel, frat Lahoud ingutsh it Is epcendiog across the cit Laban enlgih he pets k to’be done on‘a. soy sauce out of'a white Wilton carpet.”'"” “You have white Wilton carpeting in in the KITCHEN?” Cod . “Doesn't everyone?” ; : -, (He smiled inivardly. It woul be interesting to speculate , on how Joe and Maureen would handle thigone. They would: - ~ become — jointly —- Joe and Maureen Clark and Maureen’ r and Joe Clark; and Joe and Mauroey McTeer and Maureen: and: Joe MeTeer.-Oh-oh. They could run for TWO seals betwein then. THERE was a loophole to be plugged.):’ “Get back to.me.a said with new urgency in bs voi :