Winnipeg Free Press

Winnipeg Free Press (Newspaper) - September 25, 1981, Winnipeg, Manitoba Whim Peg pms 1981 protest group plans to study Impact of Kij costs is planning to set up staffed by with expertise in the Field of to advise people on How to hold on to their he said he hoped the office i wild be set up within a couple of he said his 15membef group is also planning to launch a study to Analyse the Impact of High mortgage rates on people living in a couple of suburban areas and is mobilizing mortgage lenders and University economists to try to come up with remedial measures which the eminent could take to help Home Gerry fret press Anderson said immigration minister Lloyd Manitoba representative in the Federal and Boniface Liberal my Bob at a meeting last Friday indicated Simm funding for the organization May be were Anderson wanting the worst thing that can happen is political bashing be careful you dont alienate the two groups agreed to establish Liaison with each the action committee was told by one of its members that White people were they were scared to take t think it is a sad fact that people faced with this kind of situation Are reluctant to come Anderson economic disaster is a very private Oman said he is trying to enlist support from unions and the Chambers of he said he has been seeking an appointment with but so far has Only netted an appointment with consumer affairs minister Gary several suggested that Lyon and other poetical leaders be asked to address the proposed mass Canadian Union of Public employees member Dave an employee of the City of said Rufus Lyon is the Man in Rufus is facing a Bob who emphasized he y no r mortgage rates was attending Ai a private cite ten and not As director of the Manitoba paramedical said the group com probably get As much mileage from mass rally As i mass Nivea sit might be to put him Lyon in the mortgage and interest rates Are Federal me has no tout on that matter with the Federal Strong finance minister Brian Ransom told the free prom yesterday he word press for Federal Relief for Small businessmen and homeowners hard hit by High interest rates at next weeks Federal provincial finance ministers meeting in it is a Federal government policy which brought about the situation and a Federal responsibility to Cushion those Hurt by he Ransom said the provincial government in t planning remedial measures on its own because were not going to let the Federal it is their Ransom mid he would be making some specific suggestions to the finance but declined to Delabo the Canada mortgage and housing the Federal Sven Nefs housing yester y reported Only per cent of mortgage Loans to homeowners Are in arrears three months or com pared with per cent in july of last to Chc manager Kathy Mancer said the record of months More in arrears peaked in at one per cent and has been declining she said it is a question Why the arrears Are declining while Mort Gage rates have been she speculated that the reasons May in clude a Lon enough period of High mortgage rates to allow people to adjust to others May include the Selling of a a spouse returning to work or Selling of a Home to move into rental Mancer said Chc Doest know How Many people have sold houses because they cant afford to carry Bank moves to put brakes on sliding rate rubble trouble four houses on landside South of Portage contractor failed to Complete the Job and Lions Manor officials remain in a partial state of demolition on the site where an Are trying to find a new the rubble has been labelled a 18storey Structure is to be built by Lions a demolition fire Hazard which invites Ottawa up the Bank of Canada applied the brakes to a three week slide in its trendsetting rate holding it to per just a fraction below last weeks per in what one Money trader As close to a record As Ive the Bank Over the week dumped More than Iti omillion Worth of government trea sury Bills on the Market to slow the slide in the finance minister Allan following a meeting yesterday on Mort Gage rates with senior banking officials it has never been the intention of the Bank of Canada to maintain High interest weve had the experience of a roller coaster with interest they shoot Down and then shoot up again and it seems to me that the action of the Bank of Canada is always to avoid those rather unhappy the rate which determines other in Terest is set a Quarter of a percentage Point above the yield on 90day Treasury Bills auctioned every thursday by the the Banks Selling spree flooded the Market and in turn reduced the Price on the Bills which increased the effective yield on them at yesterdays the move by the combined with a Stem warning wednesday by its Gerald that interest rates must remain High until made in Canada inflation is brought under con dashes Hopes for any immediate or substantial Relief for lower interest rates in the this week had raised Hopes that rates in Canada would continue but Bouey warned a Calgary Audi ence that even if inflation and interest rates decline in the we will not be Able to take full advantage of that development because of the failure to control Pur own meanwhile in Maceachen had Little to offer homeowners facing a mortgage renewal task Force set up a task Force made up of the banking Industry and government is being set up to study the Maceachen but he said the financial institution officials do not feel there is a need for any program to assist As Bouey warned earlier that any Large scale program to assist homeowners requiring a significant in crease in Federal spending would upset the Central Banks efforts to reduce in George Vic president of the investment firm Greenshield in said a key Factor in interest rates could be the decision on the Constitution being released monday by the supreme court of econom a decision favouring the govern ments package would elicit a lot of opposition and he this would Hurt the Dollar and Force the Central Bank to keep interest rates House purchases jump 27 during first six months of year continued from Page 1 Burden on the family budgets of hundreds of thousands of they took pains to distinguish Between those families forced to tighten their belts and an unknown number of others faced with losing their Homes despite widespread concern among Many government figures re leased yesterday show canadians bought 27 per cent More Homes during the first six months of the year than nil demands manufacturers pay fee to teams continued from Page 1 fences in the hundreds of and each of those events can be a powerful advertising they manufacturers have two they can pay us for All that or they can have their Brand names taped or painted the Dis miss the value of Onice Adver ill bet the average fan care less what a player wears or what he plays said Cooper representative Alex who added he personally Doest believe in incentive we prefer to do our own while Kurceba said he has not been advised on his company course of he said it would Likely be to allow the nil to obliterate the Brand still whether you could see the name or he id still be proud it was our also at stake Are the personalized services Long provided to the nil at virtually no suppliers feel the new program will destroy the Good feeling and special services they have Long Shenkarow Doest it could work the other he there will probably be a period during the Early stages of the program when a lot of suppliers will refuse to pay the fees and Well be using a lot of Black tape or White but i think by the time next season Rolls around Well find most of them will be Able to see the advantages of the and once Treyve they should want to be even More the fee schedule will be set up by the licensing which also handles the royalties on All items bearing nil logos sold outside of Arenas in North it will be based on the visibility of the Brand name and the size of the with the resulting Revenue distributed equally among the leagues 21 As to the amount of Money in Ziegler said if every manufacturer were to pay the maximum we would be talking about since it would Likely come from the suppliers advertising Bud i cant see it having a noticeable effect on the Cost of equipment for the average they did in the same period last the Canadian real estate Board re leased the but added that preliminary figures show the buying Pace slowed later in the when interest rates mortgage rates have come Down slightly in recent weeks to about 21 per but the Prospect of a major decline in the foreseeable future seems the Bank of Canada intervened heavily in yesterdays auction of Treasury Bills to prevent any significant reduction in the Bank the new rate is per cent not enough to prompt lenders to lower their own rates at least two specific methods of As sisting homeowners were discussed at the Meach Lake one would allow individuals to dip into their registered retirement savings plans without penalty to help pay off their Money taken out of rasps for any reason now is considered income and subject to the housing and Urban development association of Canada recently suggested that Money taken out for housing remain exempt from and this proposal is being referred to the new study a second idea involves the use of deferred interest under mortgage rates could be lowered per haps three percentage Points in the Short but homeowners would in crease their total mortgage debt in the Long some lenders who met Maceachen said he told them he will take to heart complaints they aired that a return on Canada savings Bonds helps keep mortgage rates High because the Banks must compete for investors and thus offer More earnings than the Bonds Gerald governor of the Bank of said this week in Calgary that mortgage Relief would not upset the Central Banks efforts to bring inflation under control As Long As assistance was offered on a Small As mortgage rates have climbed in recent the number of mortgages in arrears three months or More Good measure of acute financial problems declined More or less and while Ottawa has appealed to lenders to hold off foreclosures due to interest rates alone until after the Bud the number of people supposedly in dire Straits appears to be a recent Survey by the Bankers association turned up Only 10 families that May be in this undefined category Winnipeg transit makes a Good ride buy even better with Handy monthly bus because bus passes take the Fumble out of transit just East carry card takes you anywhere transit because monthly bus passes can save you even if you just use it to travel to and from work you 11 and its so when you dont need you can pass it get your monthly bus pass at these available at All 44 Royal Bank branches in the City of Winnipeg and following tickets also Gri your monthly bus pass wherever you see this Hall main Moor Cash tres service Centre s Portage and main treenary office 10 fort Street Rouge Annalt Bic Osbo Nusl o 4 3o Mon to Frt of Winnipeg licence Branch 2nd convention Centre the following common tit offices Park Community office 5006 Rowin Centre fort Community office 455 Euice Avenue kill Ronnan Community office 755 Henderson Highway Garry Community office 1350 Pembina Highway count Way office 219kucprovencher Community office 20oo pariah a Avenue vocal con Bontty office 604 St Mots Community office 849 rave Aston pharmacy 722 Wattai Kim Vertry pharmacy Corydon at Niagara drags Broadway Dona i Drake pharmacy re and Drake Dow Tom huh floor oath mrs North Dak shopping Knirr 963 Henderson Highway Empire drag 801 Selkirk a Garden Otway a customer service pharmacy 161 hardware 394 Mcgregor at Mountain drag store e at Sherbrook pharmacy Nia Kwa shopping or birr n e anew k Highway 1 Nieman pharmacy hiu5 Orvilon Avn or sos Cor Doti a Timur ioh7 is marys Nojd 133 Hai Taille red River Community College c Nalii Union relent Park pharmacy 70rifkrll Aviv Drua store Community ogee 1780 Mam Street Aitt Mtawa variety swore 796 Sargent a at Arlington ate Trtat credit unto main 125 Garry at York 1033 s Mary s 5930 Rowin 2211 5if7 St canoes to downtown is Cluj Kildonan did store the i Lombard plate pharmacy 618 Broadway 733 Jack Andrew dlr Flem pharmacy 3223 linage Avenue 201 Manitoba draft 587 Selkirk Marlon and tactic metro drop 1069 Lulu Marwood pave Graham Avenue 1855 Grant at Ken Amon 1025 my Philllps Grant hark Plaza 6b3 Osborne Street courts of St James 2727 Portage i36l Ai Moray 3o51 Ness at Sturgeon 1 Avenue spin Gamu shopping Ciure 1 163 Koth say at 1795 Henderson Highway Drei store Mary Road bar Macy 525 London us did Mart 297 Ibert after a Donald Kir hmong Plaia St Vul Centre mall us Osbu me Rule ruin Fuce shop pm Centre 1112 main Ai Redwood Sim Sean City Polo hark pharmacy 546 Academy re at Lanark pharmacy Tindal Markyl shopping Centre West shopping Cempre drug Mart South Dale shopping Centre b us Wood super Matt dry Kanlong he Var Plaza Henderson Highway pharmacy Joo Liichi Park pharmacy 2w Tyndall of into desk University Cerv Una Unity of Winnipeg Book store w 10 linage Avenue Ken Brown 239 Henderson Highway Huce pharmacy 5b7 Euice Ai Sherbrook pharmacy 79 is Vul pharmacy 70y Sargent at Toronto 255 Watt St at Harbison Eaton place information Centre Donald Street for transit Call 2847190 ;