Winnipeg Free Press

Winnipeg Free Press (Newspaper) - October 2, 1981, Winnipeg, Manitoba 4 Winnipeg free october 1981 Gerry Effiee press lending rate stable savings rates get Cut it police Block the sidewalk at Portage Avenue and Donald Street yesterday after a car jumped the pinning three people woman crushed continued from Page 1 police said a who was driving the was to appear in court this morning charged in connection with the incident that scattered pedestrians on the Northwest Corner of por Tage and Terry of 400 Colony was also pinned against the building by the he was treated in Hospital for a shoulder injury and lacerations and police a third John George of 168 Macaulay was treated for lacerations to his face at Misericordia Hospital and two other pedestrians were brushed inst building phone Cable to link Canada to new zealand Sydney Reuter agreement son a submarine Tele phone Cable linking new zealand and Canada at a Cost of million were completed austra Lian communications minister Ian sin Clair the known As will also carry facsimile and various other data it is scheduled to be in operation by sin Clair told a news the new Cable replaces the compact Cable Laid in 1962 and nearing the end of its design the contract for the main Cable was awarded to Standard Telephone and cables of Britain while a Spur connecting new Zea land will be Laid by Nippon electric of by the car but needed no police said the Accident occurred shortly before 1 when a car travel Ling East on Portage collided with Voel who was walking North across Portage at Donald in the West Cross police said it appeared the vehicle turned North at the intersection after hitting went out of mounted the sheared off a police Call Box and ploughed through pedestrians before hitting a former Bank passersby and employees of Advance and 309 Portage helped move the car off the two injured Mark a Salesman at was looking out the stores front win Dow when the Accident took place next he said a Brown car came out nowhere and smashed up against the i rap outside and there was this Young girl pinned up against the Coutts said he rushed Back into the shop and called for an in still in Shock anybody could have been walking it could have been i was walking there five minutes before the Accident of he another Advance Salesman said Sev eral people helped move the car off the injured it want a very Nice thing to he i just did my bit and got out of in not Good at looking at sights like witnesses said Gravell was accompanied by a apparently her Hus when the Accident he want another walking on the Southside of Portage near Eaton when the Accident took said she heard tires squeal and saw one Man struck by a it happened so fast that i didst know anyone else had been Hurt until i saw All the people standing around the car on the sidewalk on the opposite snowstorm cuts off Power to Ignace Ottawa up the Bank of Canada held its trendsetting rate to per cent a fraction off the per cent set last the Central Bank a kept its rate stable for two weeks allowing Only Small prior to that the rate had dropped More than Points in a three week bringing it Down from the record High of per cent set in Early the latest move was not expected to provide any Relief for hard pressed homeowners facing mortgage renew or other but while the Banks Are holding up their lending rates they have begun to push savings rates several major Banks slashed rates on savings accounts to per cent from As High As 19 per As one of the Banks which lowered savings the Bank of Nova also announced that it was cutting oneyear mortgage re Newal rates for its customers to per cent from per the drop puts its rate in line with that charged by several other Banks which lowered their rates several weeks anticipating drop the Cut in the savings rate by the Royal Bank of Canada was in Antici pation of a drop in interest rates this said Bank spokesman Fern Labrosse said that while consumer loan rates Are certainly under review he was unable to say that review would translate into Frank economist with the investment firm Mcleod Young Weir Toronto said the stability of the Bank rate for the last two weeks Means the Bank of Canada has tight ened up on the banking one objective of High interest rates is to protect the High according to funds to Canada that in turn increases the value of the As Central Bank governor Gerald Bouey has warned that regardless of what happens in the there will be no substantial improve ment until the inflation picture in and that picture is clouded with an example of those contradictions appears in the latest edition of the conference Board of Canadas business University of Western Ontario eco professor Michael in one article forecasts a Zero inflation rate by the in another economists Doug Las Claire Kyle and Virginia predict inflation in excess of 10 per cent will in both the authors cite current government ant inflation poli cies As the basis for their provinces get deaf ear in Ottawa continued from Page 1 from the Miller the Ontario treasurer said he does not believe the budget is already writ ten but he believes that Maceachen has Little room to Maceachen said the budget is not final and Miller said he believes the Federal Ransom said he would return to the talks but last nights dinner meeting was filled with Frank and straightforward translated from political that Means there were Miller and Ransom said separately that Maceachen comments on posed cuts were not absolutely final but were their assessment of what the Federal finance minister Maceachen careful wording is Legi end in Ottawa and Miller said he found it hard to believe that the Federal budget is not already he simply said that he said last year there be billion in cuts and that his Miller my answer is whats left to ate Miller said he thought it was just 4 Case of changing programs so that Ottawa gets full but Mace Acheir denied provincial finance ministers emphasized that in a general economic sense it accomplishes nothing to Transfer billion Worth of deficit from the Federal level of government to the provincial were have you even got an intellectual basis for doing Ransom it seems to have been simply an arbitrary the provinces and Ottawa have achieved what All Levels of government agreed in negotiations five years ago but now they Are being ram som theres no question in my mind thai there embarked on greater Centra i he All those things Are we said All along you cant operate that that int the Way Canada Ross Porter put on his Winter clothes and scraper after snowstorm in gasoline tax looms in Alberta Calgary up Albertas Lux Ury Days As the Only province with no gasoline tax appear to be coming to an Marvin provincial Munici pal affairs asked an advisory committee on municipal finance last May to study the implications of reinstating the eliminated in the committees interim released this week at the annual meeting of the Alberta Urban municipalities says Mil lion could be raised in 198283 with an eight percent tax on gasoline and similar taxes on other transportation the Money expected to increase to million by 198586 would be doled out on a per capita basis to upgrade local transport the tax might not be a the report but would be far less than what other provinces Are pay ranging from a Low of 16 per cent in new Brunswick to a High of 22 per cent in Prince Edward Island and Moore told reporters that Alberta needs More Revenue sources to pay for the rising costs of the provinces several tax schemes have been studied but most do not offer enough Money Over the Long he the Gas tax is the Only one weve considered to be adequate to do the but the government is not committed to imposing the the decision is in the hands of the municipalities and the if there is widespread support for it the Opportunity for the government to move is much he agreed Many albertan might question the need for a Gas tax when the the Alberta heritage savings Trust fund has bulged to More than but Moore told delegates the Bank is its All there just is no of the billion in the fund Moore Only about million is there in the rest is tied up in Lon term investments and Loans for up to 30 by Joe Rubin a Power outage caused by a pre mature snowstorm which dumped 26 centimetres of wet Snow on a num ber of Northwestern Ontario communities yesterday forced the Citi Zens of Ignace to Camp inside their own we live in the North were used to Ignace mayor Joan Barnes said were a Hardy people we got out our camping equipment and we Man a town of located about 100 Kilometres East of was said to be the hardest hit Community in the affected area which stretched Between Dryden and Thun Der without electricity the storm began mid afternoon wednesday an ended yesterday Hydro spokesmen said about customers were left with out Jim general manager of Ontario Hydro Dryden said the widespread outages were due to the accumulation of wet Snow on leaves on Trees hold More causing sagging branches to touch and Short circuit Power matters were complicated when Road conditions prevented maintenance Crews from getting started until 5 Ignace was without Power from wednesday until Early yesterday Telephone lines were also out yesterday classes at the local school were cancelled and stores motels filled Barnes said every hotel and Motel in the was filled to overflowing and garages were kept Busy pulling motorists from ditches along the Tran Canada Lisette a resident of the town for seven years said she had never seen so much Snow in septem children spent the Day said Jackie who with her Hus band Dennis runs the town news paper the Ignace Dennis is out taking pictures like she if environment Canadas forecast of sunny and warmer weather holds the pictures in next weeks edition of the Driftwood will be the Only reminder Ignace residents will have of the autumn mcleans Home of the Steinway piano v Steinway builds Only one it is built in several several sizes and at various All Bear the Steinway name and 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