The Goderich Signal-Star, 1975-03-06, Page 38C
'AGE .16--OTIERICH SIGNAL -STAR, THURSDAY, MARCH 6,197,5
S
tt
Springy
will
breathe
life
back
into
parks
BMs
p ,X
Inflation still major problem.
facin Canadians right now
Inflation, not recession is
still the major problem in
Canada according to Cliff
Shewfelt from the
Agricultural Department of
' the Royal Bank of Canada.
Mr. Shewfelt, speaking to
about 200 farmers at the
mor4hly meeting of the
Huro County Federation of
Agriculture at the Turnberry
Central School, Wingham
said that Bank ex-
pecting a realthe growth rateis of
three per cent'bin the next
year. -Inflation is still a very
real prob'.em, he -said.
Unemployment is. still not
high enough to hint that
recession is as serious in
Canada as in the United
States.
He warned, however, that
there is usually a six-month
lag between trends in the U.
S. and Canada. If recession
hits Canada, he warned the
farmers to be in -a stable
financial position. "The
'banks will stick with you" he
promised.
Asked for indicators 'to
watch for if recession is
setting in, he said to keep an
eye on the Bank of Canada
interest rate Which will drop
if recession seems close;
watch the housing starts
' which will decline; watch
unemployment which will
a; :increase and grain exports
which -will decrease. -
•„��•Rec�e�sion�takes effect
he said, "when • indu'stry in
general says "Whoa that'd
enough. If it. has to pay
higher salaries to some
workers, it will lay off
others.”
The comments an the
economy– came during" a.
question and answer period
at the end of Mr. Shewfelt's
speech on farm financing.
He said credit was a two-
edged sword. During times
of inflation or strong growth,
he said, use of credit could'
mean big gains. During
times of recession, he said,
the cost of credit would, cut
deeply into the reserves of a
business in the form of cash,
land, machinery or stock.
People should think of
productive credit he said,
meaning the borrowed
money must return the cost
,of the borrowing plus a
profit. In times of 'inflation
this is not difficult. In times
of recession, however, this is'
much more difficult. The
ratio of borrowedcapital to
real assets needs to be
higher in times of recession
he says. In .times of loss, he
says, a farther with only a 25
per cent equity in his firm
could be wiped out in only a
year.
He told farmers that they
should have a good set of
recotrds and ' facts of past
performance En hand before
going to see their bank
manager. He said farmers
must be al?le to' display their
......T'o"ta.l-"—f-Vker •and-.µ-th.e..
structure of their 'assets and
•
be able to explain what they
hope to achieve with the
credit they want.
Once you have this in-
formation, he said, talk eye-
ball` to eye -ball 'to your
banker. If he's new, -don't-
feel you have to test him. If
he doesn't understand far-
ming, help him " to un-
derstand it rather than
criticize him.
During the question period"
he was asked how a young
farmer was supposed to get
into business without going
deeply in debt. He said he
had worked on a high debt
ration with some young
farmers because of their,
good education and a solid
farm background and the
results. were mixed. He
admitted the problem 'of
getting young people into
farming is a tough one.
"I don't know what we're
asking the next generation to
.do when we're selling $1,500
per -acre land on the basis of
three years of $3 corn; he
said. "How, many years did
that land produce ,,only $l.
corn?" But the financial
institutions can't be expected
to solve the whole problem,
he said.,
Cornrnenting' on Farm
Improvement Loans and the
fact banks are staying away
from them, he said that the
hanks feel they are fulfilling
the spiri,t.. of, the Farm
"Iliip"rriveYhe'rit- A"cr:whi•ch.-was_
to "encourage the hanks to
"4l
lend •. term ,money to t,t,e
farming community".
'Now, he said, the banks
were willing' to provide, term
money to farmers the same
as to other businesses and
didn't need' the government
hacking. "But ,We don't need
a kick in the head," he said,
which is what the discounted
interest rate on F.I.L. means, „
to the 'banks: The govern-
ment does not pick up the
tab for the discount so the
bank must. One per cent, he
said, can mean the dif-
ference 'between profit and
loss forthe banks.
CHOCOLATE OATMEAL
DROPS
1 cup shcirtening
.sl i cup corn syrup
1 tsp. vanilla .
2 cups sifted cake and pastry
flour
1 tsp. baking soda
1 tsp. salt
1 cup quick -cooking rolled oats
113 cup chopped walnuts
,1 package (6 oz.) .semi -sweet
chocolate pieces
Cream shortening, corn syrup
and vanilla together. Sift
together flour, baking soda and
salt. Add dry ingredients; ,in-
cluding roiled oats, to the shor-
tening mixture. Blend in
remaining ingredients. Drop
batter from a teaspoOn two in-
ches apart on an ungreast d•
baking sheet.
Bake ' in a moderate oven
"( 75.°'la r2_Cn 15-mTrrcrtes-or•-urn-•..._..,._'-
til,cookies are lightly browned.
MARY MILES
'HOT OR MILD
24 'FL. OZ. TIN
•
FOODMASTER
91 VICTORIA STREET GODERICH
OPEN NITELY TILL 10 P.M.
PAMPER
7 LB. BAG
$1.09-.
,
Electricians continue protest over wages
•
Off-duty electricians from Workers They have been Tampa -Hall Ltd. of Kitchener,
the Bruce Nuclear Power manning 'the picket° line daily building prefabricators, said
Development continue to man from about,4 : 30 to 6 p.m.
an information line around a" The leaflets protest the
Kincardine housing • project wages of employees of sub -
protesting what - they term contractors .tet the Tiousing
unfair wages and working
development and insist that
conditions of non -unionized p
employees at
labor. ' , " Douglas unionized Point will not buy
It, is the fourth consecutive houses built by workers who
week the nen have picketed the earn less than prevailing area.
46 ,unit condominium unit wages.
development on highway 21 Laborers at Douglas Point
north, being built ity Moamar earn $5.60 an hour, carpenters
Developments Ltd. of Oakville. $7.90 an hour, plumbers and
steamfitters $8.30, and elec-
tricians $8.77.
The pickets have made no
attempt to halt work on the
project but have continued to
handout leaflets.
The pickets still refuse to,
identify themselves but con-
cede they are employees of
.Ontario Hydro at Douglas
Joint.
They , are reported to be
members of the International,
Brotherhood of Electrical
74 KINGSTON ST.
Subcontractors at the
Monmar development have
reported their workers are paid
by the job and not at an hourly
rate.
Ken Rose, manager of.
BE A REGULAR
BLOOD t ,
• DONOR'.
J I M
HAYTER
SPECIAL
"nobody works at hourly rates
in the housing industry.",
issimummimmior
Let.Me do the Dishes
SPEEDQUEEN PORTABLE
DISHWASHER
BURNS a '
REGULAR
WIENERS 7 9 c LB.
ALL BEEF
DEVON
I 1 19
RINDLESS- BACON LB.'
FRESH
,.BEEF ,SHE RTS Le.
c
STORE PACK. DEVON BREAKFAST
SAUSA -e
LB. '9
SUPER SWEET
20 LB. BAG
PURITAN
24 FL. OZ. T I N
BLACK DIAMOND 24 SINGLE..
BLUE BONNET
,.ERIN
RASPBERRY WITH PECTIN
OR STRAWBERRY
JAM 24 FL.
oZ.
RICK'S , YUM YUM HEINt 48 ,FL. OZ. BETTY CROCKER 19 OZ.
ow
PICkLESL TOMATO - JUICE. ViC (AKE C
524-7.314
SCHNEIDER'S VIM SKIM
CRISPY FLAK , POWDERED
ILKSHORTNING;LB.69C,.. •
3 LB. BAG78
$ .-
BICKS 15 FL. OZ.
PICKLED JAR
r
41?l`hev►t,fle 300 1 9 5.
2 door VS, automatic, dio, finsihed in blue
2 With blue cloth interior 4. CVZ01-1
"Shell Non -Loaded gas now • vellabie tor your convenience."
JIM HAYTER CHEV: OLDS.
wr`Rl:
Lighten kitchen chores with a Speed Queen por-
table dishwasher. High washing and drying tem-
peratures assure clean, germ -free dishes, Pots
and pans scrub clean 'automatically. Smooth
rolling, non -marring casters permit -easy"
movement of dishviasher to and from sink. Super
silent construction means quiet, undisturbing
operation throughout each cycle._
SERE
MINi:4iAi,DWARE
30 VICTORIA ST. NORTH • GODERICH 624,858
PRODUCE OF CANADA NO. T GRADE'P.0
10LB:.
YPOTATOES BAG
,
PRODUCE OF USA VI
A1, LB. PKG. : OO
RADISHE�
SONKIST - DOZ. $
FO'R OO
•
NAVEL ORANGE'S Z .•
PRODUCE OF ON i . rMPl T �Rr��
n r
MACINTOSH APPLES IAa69c
CURITY DAYTIME
bISPOSABLE Cos L
DIAPERS $ .89
LAURA SE1 ORD P ; G OF 4
pRODUC,E OF ON,T.
NO. 1 GRADE 2 LB
COOKING BAGS
ONIONS79c
y�RA'.0.31 i�.i•}i. ii" .N
SUNLIGHT
24 FL. OZ.
•
12 OZ. PKG.
WAGON -
WHEELS99%
BROWN BEAR 2 LB. TUB H2ONEYi.89
W E STON
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