» Canadians to move their’ ee to u. S. bain —s “hs | capita pet Page &, The Herald, ‘Tyeaday, June 15, 1942 Lite ab Je nde a RMA Ke Ua NE et gs Teele Fe ap aie rs eae é : a i - eran ee ay ie eo » _ - Canadians seek financial security in U.S banks | NEW WESTMINSTER, B.C, (CP) — The falling value of ‘the Canadian. ‘dollar apparently’ 16 Monee many “by BRIAN. _ GREGG . While there are wars and rumors of Armageddon in the . Middle East the elements have not all been brought ‘together yet. But events have a tendancy to move fast these _ days... ‘The Soviets ‘warned ‘iaraet “Monday ‘that the invasion of Lebanon threatens Soviet interests and have demanded. Israel and its ‘‘criminal act of genocide’ and withdraw, Is Ezekiel’s hook being set in the jaws of Magog, the Biblical name of Russia? In that decisive prelude to Armageddon ~ Turkey’ (presently a NATO nation) will join forces with Russia, Iran, and Ethiopia isan attack on Israel. But Israel and her “powerfull ally” destroys 80 per. cent at the _ enemy’a army, says Ezekiel, “One common criticism [ have heard about these latest events is that Christians will want war In the Middle East because it fulfills prophesy, The blame seems to be put on the Christians despite the fact that the nations involved in --- the invasion of Israel will either be atheists or Moslems, I “+ really don’t think that-Christians have’ much control over " the Soviet-Arab world. _ Economic publications like Business Life are also looking : at the world scene with some anxiety that another kind of armageddon:may be just around the corner, The entire _ collapseof the many of the major world banks is feared. Its diagnosis is quite similar to Mary Stewart Relfe's newsletters and books in which she says current economic trends could be leading to the 666 Antichrist system which forces all people to have their hands and foreheads branded with an invisible magnetic mark in order to buy and sell. + While unbelievers seoff at such suggestions it is in- teresting to read the same kind of material in Canada’s business magazine. Business Life says that when Third. - World nations default on their bank loans it spells disaster * * said in‘an interview. a retrietiona onthe aca mover it (borden), 050% co ~ Canadian | money - haw been streaming. - into the — Bellingham; Wazh., brangh of Seattle First National Bank - -‘ forthe past few’ weeks, ways Vice-president, A Stamey, Vo ‘although ‘it’s difficult to puta ‘hard figure ‘on’ the amouin! “Y gan aay there are a lat of Canadian dollars;"! Stamey “Certainly, alot mare now thas in the As weil, ‘small businesamen with steady dealings 0 on ie "American side of the border keep money‘on deposit in US. a hanks to save red tape every. time they-move it across the - ether ommentegs border, he said." A spokesman for Ralnier Bank, a major statewide bank: - in’ ‘Washington, cald the majority of Canadian’ depositors a “However, ‘he bays the major source ‘of Canadian Vidherd stil) 4a from: the retail trade, ‘particularly, from. ‘British. : ‘are putting’ what looks like \‘a good chuck of their saving’ . . ip accounts. with: itls bank's branches... : Columbians ‘who’ crosa the border. to. buy: groceries. ~.. pets Butler, a broker, with: Pemberton, Securitica’ in ancouver, paid Canadiana should be aware that dealing a like: to. fay afew words: of caution,” "Butler said ae . “Everyone ‘forgets ‘that: it: wasn't that long‘ aga. ‘that. th “Canadian, dollar was worth $1.04 U.S.:It's now around 80° ‘cents. All the big money has already been’ mada, ‘And once. you get the public too involved in anything, it's game over."" ~ . Sheila. Byshell, .a supervisor for the ‘Surrey’ office of - foreign currency dealers Deak-Perera, sald mary people \: and silver has increased in the past.15 dayhe “canestling: their trayel plats 3 “she depoalted $5,000 in a Blaine, Wath,;. bank last Aiakeé.sure she and her family. ean thake ‘ "Pera in ‘July, ” ot oT: “the trip had been planned since December aiid, ‘although. oan & ‘ she ‘had been watching the fevel of the dollar, “| guess I ‘wasn't Watching it closely.enough.”” -.0° |= *- : ‘* She said she saved $200 by purchasing the: ‘American. mm | _ Money across the border; and: bought protection agpinst a i are inquiring | about American currency, and the sale ofgald © ool, - “There has been. @ Ist of. tineasiness: about. the can dollar,’ she said, “Everyone thinks something is goth on hut @yey dan’t know what." ae idk summér holidays approsching, Busthell ld ee fo! people are socking away thelr: travel money. in U Coquitiawn woman, who asked nat to be ; sheduled trip any further r devaluation of the dollar. disa - mt for. the banks. No collateral is required and even more money is loaned to pay back the debt service charges. - Still , nore money is loaned out to tide these countries over. we -. “It must be remembered that not all Third World | ders © are cloned from the thigh of the high-minded Julius Nyere, ~~ president of Tanzania and occasional spokesman for the South, There is the affablePresident Mobutu in Zaire, for example. . He-invites you,-as-investor, into his mineral . paradise of copper and diamonds and like any normal red- bblooded capitalist, you succumb to his charms and end up _( investing in a-mine or two, Mobutu cheerfully takes your money but decides instead to put it into something a little . more immediate and to his mind, eminently more practical | -atrip toSwitzerlandar anewearperhaps.” _ _* It’s a con game that has been going on for years and, “Like any business that. cannot .meet its: financial _ obligations, that can’t collect on its debts in order fo pay its hills, banks too can be faced with bankruptcy. If a bank. goes broke, it faces the same consequences any bankrupt business would, Cash will most likely be frozen and other assets will be called in wherever possible. And the credit tap ‘is turned off. Small businesses with unpaid bills and a need to keep the money current flowing are suddenly left dry. Many go bankrupt and of course this triple . effect could rapidly approach shock proportions when businesses start - ' pressuring each other for cash on their receivables in order . to pay off their respective bank loans; and every time a business goes broke there are usually a gaggle of suppliers - that must tighten thelr belts. And so like a tiny snowball rolling down a mountain, the problem: takes on Bigantic stature,” While many people ‘Jaugh at the idea that current events’. could be leading to Biblical end times the alarm bells are ringing everywhere. One doesn’t need a war like Ar- mageddon to create the matrix. needed for modern eschatology. If we survive this age we'll call it the Age of. Britain faces. ~ CONDON (Reuter) _: - Britain, having won the conflict with-Argentina for control of the Falkland Islands, now faces the: knotty problem of what to do with them. — " Before’ the Argentine takeover on” April -2, the Falklands were a distant colony about which the British public knew almost nothing and the government . cared little...... British governments had seemed willing in principle , - -to turn‘the islands over to Argentina but were balked by the 1,800 islanders, who: remains responsible. for defence and foreign affairs. Government sources indicated. that in the: short term the emphasis will ‘almost, certainly be’ on "establishing the clvil. ad- - ministration, repairing war damage and giving the 1,800 islanders time to think about their future, |. ‘Thatcher has asked for an updated report on -the possibilities: for developing the Falklands, which iow tough problems in Falklands - depend almost exclusively. ‘on the export of wool, She said earlier this. month that she has asked Labor peer Lord Shackleton ‘to review his: 3876 study. of the islands, - : ‘In his report, . resources, which include fish protein, oil and gas, will .Temain untapped unless Britain received Argentine © co-operation. — ’ In a recent articte, he Lord . Shackleton said the islande’. insisted they wanted to: | Bam ‘remain British. Today, Britons know that over 200 of their servicemen ° have died to regain the . islands. Ceci] Parkinson, chairman of the governing ‘Conservative party, said last week: - “If they're worth. “dying for, they're worth keeping.”’ __ Prime Minister Margaret Thatcher now says she sees no. sovereignty role for Argentina in the Falklands.. But a wide spectrum of Political opinion suggests an awareness of the long-term | - ‘need for the Falklands'to be ~ at peace with its-neighbor. -Britain’s Economist ‘magazine said this week: -“Neither the Falklanders nor ‘the Britons protecting them will ever be fully safe until the islands have found aniche in the South Atlantic accepted by ternational community.” Government sources said today it is unlikely that the. ‘full- regalia of British rule will retdim fully repossessed. They ‘said that to rein- ” treduce all the trappings ‘of colonial office might be ~ . offensive to'Latin America. ‘ _The governor, Rex Hunt, _ bas said publicly that he has . ‘packed his bags and is . Feady to go back to Stanley Chaos, It certainly is an age when-men are so blinded by... their own greed they no longer know what's good for them, A~4 its this very investment of greed that is making it necessary for the current presidents of the United States (Carter, Reagan, and probably Kennedy) to.move, more. fi orcefully in the Third World to protect the interests of these ~ inept b bankers. _ Ask Me About Aloe Vera a You" 7) heard about its amazing benefits for skin world’s most complete Nine of aloe vera 'a products. ASK, tor" Karolyn ar : 635-3548 - * preferably afiernoons & evenings GENUINE CLARK. = -WALLABEES Hand s séwn. leather” and. leather lined. . " Resoleable,, genuine < crepe . as soon as Thatcher. gives the green light, The government has not - yet confirmed that Hunt will - the be returning. to _ Falklands. If he does, he . ‘might well leave unpacked - _ former British Caribbean’ | D his plumed hat and sword, traditional symbols “of : “eolonial rule. - One option for the. ‘Fatklands: is that of an _ ‘association’? with Britain. Several. constitutional models for this already . exist in the Caribbean. St.. Kitts and Nevis, a ” colony, has had the status of. “fin associate state since 1987 oA - and enjoys full internal self- . | 2 : Sovernment, while Britaln AL S SHOES PCL ID sie try ‘Mens sizes 6-13; «narrow, medium: jum & wide. a : . "atop, 5 _ ladies sizes s’4- 2 ‘narrow. & ‘mediony ais Lakeise Ave. _ ce "The Home: ot Happy F Fee!" . OPEN 9-6 Mof-Thurs:; Sa 0-9 Friday the in- |. ito the Falklands: fj once the islands have been | f ' In this second part of our three week serles of fashions available locally we are again pleased fo have Leona Nichol, a Grade 11 student. from Caledonia, model for us.. Leona wears a mustard color raw-siik sult fram Anne Sophie (above) for that special evening out. The pants have speciai side . pleats and an ankle wrap for detall, while. the puff sleeved jacket has snap closure. ‘Underneath the 100 per cent silk blouse, also > from. Anne Sophie, has pleated - sleeves and Is In a coordinating print. Mantique Fashions) For either work or _- school, Leona.wears a red, blue and yellow striped dress with a white background. The . dress Is set off with a red patent belt and _ side slit. me Star Apparel). (Courtesy . aid; “There must be some element of compromise if Perpetual threat is to be lifted from the tiny population of these island- Last year the British government threatened ‘legal action, against in- ternational oll companies if _ they took - ‘up Argentine tenders to.drill for oll in the ” disputed waters around the” Falklands, Government sources say that a far no firm decisions . have been made - on” the, islands’ future. _ Canada’ s dollar ‘falls. It was down, down, down _ “heavy intervention by the _Monday_ raised its. prime for the dollar again as Canada's unsteady. currency smashed through the 79-cent barrier Monday to clase at 78.5t cents U.S _» ITS LOWEST LEVEL ~: EVER. ‘Triggered | right «at the start of trading by ward of an increase in American interest rates, the brutal tailspin merely’ gathered . momentum as the day progressed — despite what Money traders said was Bank of Canada to halt the slide... “After opening at 79.02, the currency plunged tivo- thirds of a cent, rudely cancelling out Friday's: ~ modest rally to 79.21. ° - The dollar: has been floundering for weeks on the rocks of, among other . things, a’ strong U.S. dollar and continued high U.S. interest rates, . . . News that Citibank, the second-largest U.S, bank, differential . t : ‘ . Linda’s Fashions By Linda Purschke — Some day a lonely author will attempt a history of the 20th Century and he or she will no doubt devote at least seven chapters to the importance of sports In our society. It seams we have managed to turn almost any form of human en- deavor into an athletic event; notice how major television networks delve to the depths of ridiculous In order to come up with sporting competitions where the Dallas Cowboy Cheerleaders take on the King Pin Bowlers of America in parcheesi or, even more perverse, subject the viewer. to imuckiebiting tension as the cast of Three's Company at- tempt to wrestle away the egg-spoon trophy from the crew of Little House on the Prairie. Given. these excursions ‘beyond the obvious bounds of good taste, it is no wonder the fashion industry, ever a mirror of society, leaps into the fray with a new concept cheekily labeled sports-chic. Sports-chic is an idea. not. without appeal; those of ‘us tiot athletically inclined are | pleased to note a woman clad in track shoes and eweats on the way to the laundry room does not look any different than -a woman about to enter the Boston Maraton, Of course this is an area where men have a certain amount of previous experience, since for years they have lolled about the house . na garment described as boxer shorts, Why not milkman — shorts? «Or ‘ballet shorts? Is it any coincidence a man . deemed by his peers to be effeminate is described 88-8 pantywaist? In any case, given that sports stars are becoming heroes to more and more of us, it is not surprising garments designed for sports cimpetition are making their way into the wardrobes of millions of non-athletes. Yet; such a trend does require forethought and skill on the part of the buyer; just as the caveman oc woman chose bearskin over Bopherskin everytime, modern.man or women ‘must pay . careful attention when using sports-chic: to- impress the . target of his or her affections. ° Of course, Iam aware that being female my perspective of such matters:is limited, but I do have reliable sources — * voluntary program, which kept car . rate to 16.5 per cent from 16 ‘per. cent demolished: any lingering hopes of an: im- mediate downturn in American rates. Conventional economic _ ‘wisdom has it that Canada’s dollar is damaged when the American and Canadian rates. narrows, because investors have less in- centive to keep their funds here. The prime rate in Canada is currently. 17.5 per cent, In another. development, Japanese manufacturers _ Shipped # record number of — cars to Canada in April, but stalling tactics by customs officlals are keeping them out of the hands of potential ‘ buyers. , Atotal 25,164 cars — more than in any previous month —~ were shipped here in. April, the Japan Automobile . Manufaeturers: Association’ a _ bald: Monday. - - Japan's one-year restraint imports to 174,219 last year, or an average 14,518 a6 month, ended ‘in March. ' Tokyo has agreed. to con- tinue the restraint program © for another ‘year at that . level. But Trade Minister Ed _Lunley,; under pressure from . the depressed domestic auto industry, has said that's not enough; He wants Tokyo to reduce its. car shipments | further, restrain truck imports as well, and ‘start using. Canadian parts 'in its cars. So far Tokyo has refused ‘Lumley’s.demands, ‘and talks with Ottawa are at an impasse. To put pressure on the Japanese, Ottawa began detailed and = time- consuming customs in- .apections of all: Japanese - auto imports last month. _- “In other business’ news F - Monday: , who state men prefer woman sports-chicers i in shower and tub wear: But being of generous nature, I have undertaken: extensive research to provide men with suggestions on how _.to incorporate sports-chic into thelr love lives moat ‘ef- fectively, "Proper headgearis‘a fundamental: -Please keep in-mind—- -' when aman wearing a football helmut asks a: wornan to. dance, he is likely to be turned down. A man wearing a: fencing mask to the teller’s wicket may also receive a lukewarm reception, especially If-carrying a sword. Neckwear is tricky. Despite, romantic legends of the Red Baron, most women consider men who-wear scarves in warm weather only’ a half-step away froin wimp. When clothing the upper torso, consider that a man who wears shoulder pads under his Canucks jersey | has no right to get angry with his date for wearing a padded bra. Many women judge a man by his hands; a strong, firm. hand implies self-confidence and inner strength: “Women are not easily fooled by artifice thus, despite assertions - made to the contrary, women- are not responsive to ad- _ vances made by men wearing catcher’s mitts. Especially: _ oa both hands, ‘Sports-chie has vei'y itringent rules ‘or males: ‘chooslng to * clothe ‘their lower tores and it ls no rcoincidence women will,” : choose a ballet star over ‘a basketball player everytinie, , Obviously though, all things have their place. Should a maa - in ballet leotards approach a female ina supermarket and offer to carry her’ groceries, the female may choose ‘to - ‘respond by aiming io ) pounds of sugar.at’ ‘his left ear, Sumo- wrestling wear has ; yet to be promoted into the realms of - sports-chic, but I for one. am anxiously awaiting its arrival. When choosing footwear, men must pay attention to the: subtle nuances their choices may. have to > potential ‘part- ners. Women are suspicous of men who wear ‘Mp waders ' into a darkened: theater, Sports-chic seems to me to be ‘ahother one ‘of those .. | superficial, silly-ways-of- judging ‘people: merely. by .their~ _. appearance. Recently, I was asked out by a six-foot guy * with dark curly hair, green eyes, anda great tan: Isaid no, _-Must have been the-wotsuit,.. ee ae “justed: variations. At: is ‘the ‘firat | a ne er eee ee — Canadian National . 4 Railways announced it will extend a massive summer layoff of shopcraft workers for. up to a month more. The railway originally intended . - to lay: off.3,150-employees.at-~"3 its three - main shops* “In” Montreal, Winnipeg ‘and "Moncton, N.B., for sfx to eight weeks following: the regular four-week vacation break, The. shutdown: naw will last 10 weeks ‘for ‘all : 3,150. Ronald Lawless, CN. | _ Rail president, said, ‘had-hoped. that business: .. would be. showing some “signs of. improvement by.. now, but since it hasn't-, ., we must reflect that reality by - ‘controlling: our” ex> ‘ Penses.* iv ~ Statistics - - reported ‘that. ‘workers. in - Le ‘industry, earned an average “‘$901:11 ‘i week'in March — unchanged: from: “February. when. thd’ figures are ad- for. seasonal Ae. -in “quite: a. while” th sn’t been an in- “crease in average weekly earnings, one agency. of- ‘ficial anid, The stagnation is related to the: recession, Hexplained a another, ‘Th ‘There is lesa ; overtime, and some _- ‘ employees are. working ; short weeks. ; eS between - We . ‘Canada’ :