PAGE Al0, THE HERALD, Friday May 13, 1977

_ Business spotlight.
No longer necessary

MONTREAL (CP) —

The Lovell Montreal City
Directory, since 1842 con-
sidered by many
. businessmen, residents and
visitors as an indispensable
information guide toa
Canada’s largest city, ap-
rs headed for extinction.

“T seeit as Justa matter:of,

time: before, it’s .discon-
tinued;" said Robert Lovell,
president of John Lovell and
ons, a leading custom
printer and publisher.

Lovell said in a recent
interview: that sales of the
voluminous. bilingual
directory. have dropped as
costs increased.

Compiled with the help of
acomputer and almost 100
parttime workers, the
Montreal directory costs
about $400,000 annually to
produce, he said.

For $232, buyers get a
twovolume, 2,750-page
almanacnof, city — in-
formation Lasting 62,943
businesses and 445,119 in-
dividuals. a
- “We are the largest city in
North America publishing a
city directory,” Lovell said.

‘Larger places like New
York City have stopped
because the cost of pro-
duction is too great.”
“Because of the:changing
nature of business, there is
no money in (publishing)
the city directory, Why
should we throw our money
into-:it. just. because we've’
been doing it for s0 many
years?” Lovell asked,

“We've been getting intoa

smaller an smaller
customer base and we're
trying to break out of that by

making our-publishing more '

diversified,”.

Following the trend in

other North American
cities, the Lovells have been
introducing smaller,
community directories
during the last few years.

The new directories
updated and _ publishe
annually, provide the same
information as city di-
rectories with additional
sections designed to meet
local market needs,

Although half the com- .

pany’s work is in custom
printing, the Montreal
directory has for years been

4

-hame

the most lucrative part of
the publishing house since
great-grandfather John
Lovell first published it.
For six generations the di-
rectory has been a time
capsule of paces and
people, filled with city
‘history, shopping advice,
city maps and lists of busi-
nesses and residents by
and __ telephone
At age 10, great-
grandfather Lovell arrived
in Canada from Ireland with
his parents in 1820 and by

“4935 had set up a jobprinting

office that published various
journals including the self-
financed Literary Garland.

John Lovell also published
the Canada Directory (1851-
56) and The Dominion
“Directory in 1871 which
included information on
4914 villages, towns, and
cities. ;

Sti operating from the
original store site in Old
Montreal, Lovell's over the
years has introduced street-
address directories, a
numerical phone index, city
maps and pocketbook street
guides for tourists.

BANKS
SHOULD
EASE

OTTAWA (CP) — The.
federal government. was
asked Thursday by a
Progressive Conservative
MP to persuade banks to
lower their interest rates on
loans following a_ recent
reduction in the Bank of

Canada rate.

Every day the banks balk
at lowering their interest
rates results in $1 million
being taken out of the hands
of Canadians, Sinclair
Steyens,
finance critic, said in the
Commons.

_ Stevens noted that at least
one bank, the Provincial
Bank of Canada, did lower,
its lending rate to 13
frorn 13.5 per cent but that
most had not followed the
tradition of reducing their
rates after a Bank of Can-
ada reduction. -

Robert Kaplan,
parliamentary secretary to
Finance Minister Donald
Macdonald, said the public
has a free choice and should
borrow from. banks with
lower interest rates,

Conservative “' :

reent —

OTTAWA (CP)

Consumers are growing
increasingly uncertain
about the national economy’
and the belief that inflation
will worsen during the next
few months now is
widespread, the Conference
Board in Canada said
Thursday.
. The Conference Board, a
research body supported by
governments, business and
abor, said it is apparent
that Quebecers have
become .more _, pessimistic
about the economy than
respondents from other
regions.

The survey of consumer
confidence was taken in
March. It looks at con-
sumers' purchasing plans
and expectations for their
own personal situation,

There is more consumer
uncertainty now than at the
end of 1976 or at this time a
year ago, the survey found.

There are several reasons
for this, the survey found.
Real economic growth
declined in the final three

months of 1976 for the first.

WORSENING INFLATION

No confidence in $’s

time since the 1974-75
recession, The unem-
ployment rate has risen
sharply and now is more
than eight per cent of the
work force and inflation has
been rising at more than a
10-per-cent annual rate.

‘“In sum, the economy
does not appear to. have

OTTAWA (CP) — Con-
sumer Affairs Minister
Tony Abbott said Thursday
he will delay im-
plementation of major
portions of a proposed
consumer credit dill until
disagreements with the
provinces can be sorted out.

An official in his depart-
ment said it was the first
time such an approach had
been taken in federal

‘ legislation and represented

*ta whole new approach to
trying to get into a field
where there is a shared

eee)

gained momentum in_ the
early part of 1977 and in-

dications are that the rate of .

growth in output this year
will be lower than that
achieved in 1976,'’ the.
Conference Board says.

The percentage of
respondents who thought

| ; CREDIT CARDS —
- Jurisdictional hassle

jurisdiction.” ~ ,
The announcement b
Abbott, part of a list of
proposed changes in the
Borrowers and Depositors
Protection Bill laid before
the Commons social affairs
committee, is designed to
meet complaints from
several provinces that the
federal bill will create

duplicate and sometimes.

contradictory legislation in
several areas. oof

Abbott tld the committee
he will delay proclaiming
sections of the bill giving

jobs are plentiful was the
lowest since the third
quarter of 1971. And the |
number who expected in-
flation to worsen was at the
highest level since the third
uarter of 1975—whén man-
atory wage and price
controls were imposed by
the government.

consumers the right to take
lenders to court and force -
them to-prove that interest __

rates on their loans are
justified. He will also
temporarily
sections requiring all credit
advertising to include a full
“explanation of the costs.

“In these cases there will

be further discussions with
-the provinces with a view of
finding arrangements by

which both federal and ©

provincial laws dealing with
credit can be meshed
rationally,” *”

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