Winnipeg Free Press

September 12, 1980

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Issue date: Friday, September 12, 1980

Pages available: 132 - Used by the World's Finest Libraries and Institutions
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Publication name: Winnipeg Free Press

Location: Winnipeg, Manitoba

Pages available: 132

Years available: 1874 - 2016

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Winnipeg Free Press (Newspaper) - September 12, 1980, Winnipeg, Manitoba Canadian country stars kick off Big Country Credit costs up despite rate drop By Cecil Rosner Anger and frustration may be all thats in store for anyone who thinks recent declines in the Bank of Cana da rate will usher in an era of cheaper consumer A survey of banks and financial insti tutions shows that interest charges on credit cards are higher than while loans and mortgages have dropped only moderately compared to rates charged by the Bank of Canada to the banks It shouldnt be because banks are in the business of making money and its always the poor old consumer who said Helen An derson of the Consumers Association of Canada in cochairman of the asso ciations economic said yesterday fhe banks have taken advantage of the unstable interest rate situation to increase their She said the major banks and financial institutions are acting in concert to keep costs of loans artificially by not dropping their interest charges to match the central banks Visa and Master Charge cards levy a 21percent annual interest on outstand ing Many local retail estab lishments charge between 21 and 24 per cent for their with for charging per cent and Imperial Oil 24 per The public utilities board is cur rently considering an application by Greater Winnipeg Gas to levy a 21per cent annual interest charge on accounts more than 11 days The traditional spread between the Bank of Canada which is the rate charged by the central bank to private and the banks prime or the rate they charge their best corporate has been about threequarters of one per In re cent the spread has increased to about two per Anderson said this situation is unfair to Because consumer loans are tied to the prime the higher the spread gets the greater the interest charges will Tile banks didnt get to be billion dollar corporations by being philan she The Royal Bank had aftertax profits of million in the second quarter of this a 40percent increase com pared with the same period last See COST page 4 Cloudy tonight 10 Cloudy tomorrow 18 September Free Press SUN Rises Sets MOON Rises Sets FINAL 30C with colored comics For home 9570550 JAMfS FRfit PPESS KEN FREE PBESS Sprucing up the city Smtctural makeup artists huvo lueti giving buildings in the downtown area a Ron Lambert right used a silicone spray to protect the old Bank of Commerce at Alexander Avenue after the paint was While paint was coming off Dave Pawluk was applying a fresh coal for the city on a building at King Street and Bannatyne Trustees blamed for exodus Boniface school board indecision cited for administrators quitting By Glen Mackenzie Indecision by Boniface school trustees has contributed to an of administrators in thelast II two former key officials Superintendent Peter who left in and controller Ray mond who left one month said in separate interviews iheylound he current St Bonifaceboard more difficult to work with than the two previous Six top administrators the u con buildings music supervisor and physical education u pervisor have left since now controller a Coop Im plements said current board members have a difficult time with themselves Its not that theyre Kid just that they dont work together They wanted us to come up with proposals they could all agree And that was Unpredictable who teaches at Simon 1raser University in said in a telephone interview he found the current trustees totally unpredict On any given issue you never kiuw which way they would split They were bad no doubt about it They werent a good group to work he Board chairman Lucille Hunt said administrators who left did so for reasons which had nothing to do with the found a better paying Coleman wanted to move to and secretarytreasurer Romeo Verrier took a better paying job as finance director of the Winnipeg she Coleman said he resigned largely because he was tired after six but also because he wanted to live in British Columbia and because of the Boniface school who left last said he wanted to work for the Jets and is paid more now than he did when he worked for the school said the board failed to pay him the salary promised be fore the federal antiinflation board came into existence in 1973 and refused to pay promised increases after con trols were It was mainly a question of whether you feel they need you and will pay a competitive rather than the amount he But trustee Joyce Patterson said the current board isnt obligated to carry out verbal promises made by the previ ous Coleman said he received promised increases during the AIB beriod be cause he had insisted before controls started that the board put it in writ Others who have departed are music supervisor Winmtred Voights and phys ical education director Al Huot said Voights left for family reasons and Parker a job in Coleman said only one or two key administrators left during when he was division controller from 1974 to cited several examples of what hue BONIFACE page 4 Military throws out Turkish regime From AP and Reuter ANKARA military leaders seized power early today in an ap parently bloodless predawn abol ishing the government and parlia ment and imposing martial law with an indefinite Prime Minister Suleyman Demirel and two other major political leaders were reported under house The military leaders said the take after five years of increasing political instability and violence in which more than people have was aimed at preventing a pos sible civil war in the southern anchor of the NATO military Helicopters clattered above the capi tal in the predawn hours and hundreds of troops with armored personnel car riers and tanks cleard the Deputies rounded up Sources said military busses rounded up deputies of the National By the city looked deserted ex cept for By late some Turks ventured out to armysupplied bread stores and long lines formed for The Ankara Martial Law Command said in a communique that leader of the conservative Justice and the main opposition former premier Bulent leader of the leftofcentre Republican Peoples have been interned in their Ntcmeuin chief of the Moslem fundamentalist National Sal vation is under the protection and custody of the the com munique moderate at helm A fiveman National Security Council took over the It is headed by Kenan chief of the general staff and a political and the commanders of the ground air navy and gendarmer 11 is tlusecond time in 2ll years the armed lorcvs have taken over the southern anchor of the North Atlantic Alliance to try to enforce political sta Evren and the other four mili tary commanders in a statement nine months ago criticizing the political in stability and violence indicated they were prepared to intervene The troops moved through Turkish cities shortly after set up roadblocks and took control of the The coup was announced at See COUP page 4 Private talks begin By Michael Doyle Winnipeg Kree Press OTTAWA Canadas 11 first minis ters began private talks this morning in an attempt to reach agreement after four days of public discussion on the The closeddoor session at 24 Sussex Prime Minister Trudeaus offi cial got under way at COT this Split fillers The premiers met first for breakfast in Manitoba Premier Stetling hotel suite and they emerged united in their desire to have the prune minister make some major Nova Scoiia Premier John Buchanan Its a matter of whether the Prime Minister of Canada wants constitution al he Its up to him See PRIVATE page 4 Winnipeg inflation rate tops national average 1 rum Canadian Press The cost of living in Winnipeg rose by per rent in leading to an annual inflation rate of per slightly ahead of the national average the consumer price index pei cent last produc ing an annual rate per urn above last Statistics Canada leportecl For ihe trfird month in a the index a of inflation Was aboVt 10 ptr the rate forecast fur 1980 by the finance A steep monthly jump of per cent in food prices which normally drop in latfc summer as local produce goes to market was responsible for faster growth in the overall the agency In the nonfood higher housing contributed to a tnouuily equivalent to an annual rale uf per as Quebec and Alberta residents paid more for rented accommodation 1 Hockey lesson Ten years ago nobody would have believed but last night two Swedes were in Winnipeg teaching Canadian coaches about 65 Fox goes home Terry Fox left hospital tired and weak from chemotherapy but looking forward to his first taste of moms home cooking in 5 Five bands quit Chiefs from five northern bands have disassociated themselves from the Four Nations the restructured Manitoba Indian Brotherhood 13 Tie broken Mayor Bill Norrie was forced to exercise his twovote privilege to squeeze through a new bylaw applying to group foster 1 k T INDEX Ann vor J Ettitivnmtnt forum 1 39 J 18 LtUi 18 27 40 urJ T V Liv 1 ts 54 o v9 n jO i i ;