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VOL. I9: NO. 39 OCTOBER 6, I976 20 ¢ PER COPY " A_GREAT WAY TO SAVE John F. Mills of Thunder Bay has been appoin -ted organizer in the I976 Canada Savings Bond Campaign, payroll savings division, for the Thunder Bay and Kenora districts. His territory includes Thunder Bay, Dryden, Kenora, Fort Frances, Marathon, Schreiber, Terrace Bay, Nipigon and Atikokan. This is Mr. Mill's sixth year as an organ- izer in the Canada Savings Bond Campaign. This marks the 3Ist year of Canada Savings Bonds and during the period I946-I975 inclusive almost $7.3 billion in Canada Savings Bonds were purchased through the Payroll Savings Plan across the country. Last year in this area, 4,094 employees bought a total of $3,180,600 of Canada Savings Bonds through payroll savings.. The I976-I977 Canada Savings Bond issue of- fers an average annual yield to maturity of 9.I3 per cent -- 8.5 per cent the first year and 9.25 per cent in each of the remaining eight years. Over the years, a growihg number of indus- tries and business establishments have instit- uted the payroll savings plan for their employ- ees as an easy and convenient way for them to reach a savings target and invest in a safe and profitable security. This year more than 5,300 organizations will make the payroll savings plan available to their employees for convenient purchase. In I975, over 74I,000 employees purchased a record $482 million worth of Canada Savings Bonds. Payroll purchases in Ontario alone in I975 amounted to $I6I million. In the case of cash and official monthly savings plan purchases, the Minister of Finance reserves the right to terminate sales any time after Nov. 5 without advance notice. Continued page 2 ..... \ NORTHERN HOSPITAL BUDGETS UP $23.2 MILLION IN I976 'Hospital budgets for I976 have increased by $2II million or I3.4 per cent over I975 budgets, Health Minister Frank S. Miller an- nounced. "Despite cutbacks, bed closures, staff re- ductions and some hospital closings," said Mr. Miller, "hospital budgets have still in- creased an average of more than I3. per cent over I975. Since there will be no more funds available in I976, hospitals must not exceed their final approved budgets. There will be no exceptions." Budgets for northern hospitals are up $23.2 million in I976 from I975. Hospitals were notified of their approved budgets July 28, I976. Final budgets include earlier constraints realized from bed clos- ures, staff reductions, and selective budget cuts, announced earlier this year. The I976 budgets take into account additional funding for new programs and services in many hospi- tals. On March I2, I976, Mr. Miller announced hospitals would be allowed increases of up to I0 per cent off goods and services, and up to eight per cent for salaries, wages and other benefits when preparing their I976 budgets. After operating budgets submitted to the Ministry for review, total monies requested exceeded funds available by more than 2 I/2 per cent. "By constraining expendi tures in thes provincial programs," said Mr. Miller, "the provincial government agreed to provide ad- ditional funds, reducing the shortfall to only one per cent. Even with this further one per cent reduction in base budgets, hospitals will be funded $2II.3 million more in I976 than In T975. Continued page: 2 rive eve