Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 18, 1995, Winnipeg, Manitoba Ill Check your numbers on Page b4 c Arena debate Meg unrealistic1 in bid for Portage East site b1 36 pages vol 123 no 48 Canada Post sales agreement 563595 Winnipeg free press get f Post 600 get Post outside City 75c in Ontario to evil Home Deriv by 25 wkly 05 20 Post in Winnipeg 30 s3 09 21 Post outside City january death toll mounts under the rubble quake traps hundreds in buildings port City ablaze App Japan rescuers dug desperately through the rubble today for survivors after powerful quake Tore through parts of Western killing nearly top pling buildings and touching off raging hundreds of people were still trapped in crumbled Brandon dad a4 thousands a5 police said people were known dead by this were missing and motorists perished As their cars skidded off collapsing tracks and Bridges for japans famous Bullet trains were damaged badly enough to be out of action for hundreds of thousands of survivors struggled to live without Gas or hardly a Block in an Indus trial port City of million had a House or building Many streets were reduced to piles of rubble by the strongest quake to strike an Urban area of Japan since japans second largest City which is across the Bay from was also heavily damaged by the quake that struck before Dawn the wreckage extended 80 Kilometres Northwest of Kobe to the sacred temples and statues of the ancient City the quake was centred 20 kilo metres under Sawaji Island in the Inland the Central meteorological Agency More than 600 aftershocks hit the Kobe area through this no canadians were reported in said Jennifer a for eign affairs spokeswoman in Otta there Are More than canadians in the about people spent last night in emergency i dont want to go inside a build one Middle aged Man its but i would rather stay More than soldiers were sent to the quake zone to help fight fires and distribute a truck lies on its Side after plunging from the collapsed Han Shin expressway near spaceport revenues expected to cover Cost of Churchill lifeline by Paul Samyn legislature reporter Church ills survival rests on Ottawa securing a multimillion Dollar lifeline for the beleaguered seaport Over the next two years until a new rocket Range can take the free press has a summary of federa Provin Cial task Force report on Church ills viability shows the two year govern ment commitment to the Money los ing ports Canada Canadian National rail line and the Airport will Cost taxpayers As the task Force recommends a ims million Fleet of alumni num Hopper and that Mil lion be invested in upgrading the Church ills Hopes raised a3 Bay line which links Churchill to Southern government must make a commitment to the continued maintenance and operation of the existing transportation infrastructure and services due to the identified Public benefits and particularly the major economic benefits of the spaceport Canada said the report obtained bar the free the report claims tax revenues generated by a Juit aerospace proposed spaceport will cover the Public investment now needed in the rail port and spaceport officials would not com ment yesterday until the report is officially released next How the report said the which will launch could Lead to million in Gross expenditures Over the next six the task forces plan to ensure Church ills Lon term economic viability also recommends building on the ports traditional strengths and for it suggests Mil lion tonnes of Prairie crops such As lentils and oilseed can be affordably shipped through the port instead of solely relying on it also Calls for the establishment of a marketing Agency called Gate Way North to better promote the port at a Cost of the report recommends Gateway North evolve into a local hike in borrowing costs Likely As Bank rate up again to Back Buck Consumers May take second blow by John Douglas business reporter Consumers could face the second interest rate hike in less than a week after the Bank of Canada moved yesterday to Shore up the battered Canadian Dol in his strongest defence of the Dol Lar since being named governor of the Bank of Canada More than a year Gordon Thiessen sur prised Money markets yesterday by hiking the trendsetting Bank rate 97 basis Points almost one per in the last three Thiessen has done Little to Stop a four cent de Cline in the major Banks reacted immediate hiking their prime rate by three quarters of a percentage Point to the highest level in More than two the move is almost sure to Send borrowing costs up As Early As to just five Days most Banks increased mortgage rates Between on half and three quarters of a percentage on the Brink i dont know if Well see an in crease right but this move surely puts the country on the Brink of another round of interest rate said John an economist with the Canadian Imperial Bank of its something people dont need and the Economy Doest but the International Money markets Are demand ing returns on term deposits and guaranteed investment certificates Are also expected to despite an improved economic foreign investors have Lin Gering doubts the Liberal govern ment has the will to bring Down a Tough and they Are concerned about Thiessens willingness to let the Dollar yesterdays Tough action was spurred by an Early morning Selloff in Britain that sent the Dollar to cents us before it recovered to cents its lowest Point since March the Selloff was prompted by Al an influential Canadian currency who suggested the Dollar could lose 10 per cent of its value in just one Day unless Canada addresses its eco nomic this is a major overcompensation intended to give the currency some said Robert our battered International Money markets have been dumping the Canadian Dollar in recent sending it spiralling in this the free press looks at what that Means for local governments and professional sports part1 inside Story Thiessen blamed for slide b3 an economist with the economic forecasting Agency Dri for Thiessen has allowed the Dollar to fall without a fight and now Hes trying to Send a this should do but Thies Sens greatest problem is still his past track a recent study by Nesbitt Burns indicates Thiessen has encouraged the devaluation of the Dollar by his reluctance to increase the Banks overnight loan rate a Benchmark Banks use to determine the interest rate they charge each Thiessens a reduces John Crow and Gerald used the overnight loan rate to Send the Market signals they would not tolerate a run at the for every cent the Dollar de both increased the overnight rate by 90 basis until last Thiessen had in creased it an average 29 basis now he has increased it 150 basis Points in three separate including a hike of 50 Mon Day a basis Point is on Hun Dreuth of a percentage Thiessen has reacted to the for Eig Exchange markets Only Belat when massive intervention failed and crisis Nesbitt Burns economist Sherry Cooper we have a crisis on our if we want to maintain our Appeal to the global the Bank of Canada must prevent further cur Rency t o d a transportation authority to run the port and the rail Churchill mayor Doug Webber said the task Force report holds great Promise for the town of and he said the spaceport which is set to begin construction this could prove to be the Community Arnold the president of the Hudson Bay route agreed the spaceport has become crucial to a Juit is the key Here and we cant jeopardize that for the Mani Toba Economy and Canadas dec no said finance minister Eric Stefanson said he Hopes the spaceport would be Able to take advantage of the Nat ural economic advantages Churchill quote of the Day he does t believe in spaying or neutering but he does believe in burying his dogs alive and killing Sherry Schlueter of the Oakland sheriffs department is disgusted by a dog owner who buried litter of puppies sunday because he didst want the dogs Mother rescued them details on Page a1 2 the weather today Cloudy with occasional Light High 1 1 us tonight tomorrow mainly i Moon inside diversions rubes and Ann in sports to better than Bank foreign Exchange rates guaranteed corporate accounts custom 9876ooo ;