CASTLEGAR. NEWS, Thursday, Aug. 16, 1962

‘Borrowers Should Insist Upon Knowing Interest Rates on Articles They Buy

selves, rather than left to ly forc-
ed by government.
If, however, the industry con-

R. G, LILLIE
Saturday Night
It’s a queer situation when a
huge amount of. money . (equal,
perhaps, to more ‘than a fifth of
our federal public debt) is being
used by ordinary people who are

not told the rate they are paying
for the use o!

the most hespectable merch-
ants and ‘lenders not only make
this type of credit available, but
go to considerable trouble and ex-
Pense -to persuade the public to

take: advantage of it,

Why, then should there be any
obvious reluctance to state the
rates that are being charged? And
why do not the borrowers insist
upen knowlng?

Perhaps there is a guilty feel.

There Are Many Reasons
Why Some Build, Not Buy

There | are’ several important
reasons why a prospective home-
owner might choose to: build ra-
ther than buy.

He may, for example, have
difficulty in finding a ready-built
house ‘that fits his needs and
tastes. Perhaps there are some
special features he would like to
have incorporated in. his new
house and by building he can have

. the house tailored exactly to Be

needs.
In ‘addition, the location ‘of
available houses for sale might not
be satisfactory for his family or
he may already own a choice lot
in a desirable neighborhood.

The ideal procedure, of course
would be to engage an architect to
plan your house for you. With his
experience he would not only de-
sign a house to fit your family's
needs but would ensure that the
price would be within the amount

_ you to wish to invest in the pro-

perty.

He would prepare the: neces-
sary specifications.and could also
select the contractor and super-
vise the construction of the house
for you. There are, however, other
ways of getting a house built. One
method is to purchase stock plans
of a house, such as those available
from Central Mortgage and Hous.

SE.

8ST. BITA'S CATHOLIU UBURCH
Rey. E, 4. Brophy, P.P.
5th at Elm Btreet
Bunday Masses - 8.30 and 10.30 am
Evening Mass - 6.00 p.m.

GRACE GOSPEL CHURCH

GOSPEL CHURCHES, CANADA
Sunday in the Legion Hall
10:80 a.m, Sunday School

Thurs, 7:45 p.m. Bible Study
Tues, 7:30 pm. Young People's
UNITED CHURCH OF CANADA
Robacn, — Ist and Srd Sundays at
1 am.
Castlegar = Bene of Worship at
730 pat.

Einnaird — Bervice of Worship at
945 am,
CHURCH OF JESUS CHRIST
Lbs.

Sundays at 10 am. in the Twin
Rivers

Hall
Evening Sacrament Service 130 pm

GRACE PRESBYTERIAN CHUROB
Bere ‘'T. Evans, Ph. 365-5536
urch School at 945 am,
Monty at 11.00 am.
Bible Study: Wednesday at 7.30 p.m,

ing Corporation, and have a con-
tractor build from these plans.

2 In this case it would be ne-
cessary to select a suitable building
site and ensure that the design
chosen - is adaptable to the loca.
tion,

Some people do. their own
contracting. This fs possible under
the National Housing Act but-the
borrower would have to satisfy
the NHA lender concerned of his
ability to. complete the transac-
tion’ properly.

This mehod calls for a lot of

hard. work, time and a good know.
ledge of the building industry.
‘You would, for example, have to
make your own arrangements for
the’ purchase ‘and delivery of all
materials and equipment required
and the hiring of sub-contractors.
You would also be responsible for
having the sewer, water and hydro
connected and for your own ac.
counting, It can be a very com-
plicated undertaking and, ‘ unless
you are entirely satisfied you can
handle it properly, it might be
well to employ a contractor and
let him build for you.
You can still do some of the
work on the house yourself‘ when
you use a contractor if you come
to an agreement with him where.
by you would be given credit for
any work you are able to do. This
matter should be taken up with
the contractor in your initial dis-
cussions with him.

Maori Dancers
Are to be Feature

ing about paying rates higher than
five per cent,

A man may enjoy his moter-
boat’ more if he allows himself to
believe that if he ever got around
to figuring it out, which he won't
he would find he was paying five
or six per cent on the price of
the boat,

. On ‘the surface his transaction
is a happy one; there is a happy
lender and a happy borrower, nei-~
ther of them irritated by the crude
factual. expression of an interest |*
rate which might cause the one
to He‘ awake worrying about his
public relations and the other a-
bout’ his solvency.

.. However, the whole picture is
not ..a‘happy -one, In the “mass,
these transactions | represent a
major segment of the’ economy
which is‘ in an increasingly dis-
orderly position. So long as' these
rates remain unstated the whole
tendency will be for them to rise,
since they can do so almost im-
perceptibly. Normal price compet-
ition is absent. Irresponsible len-
ders ‘are flourishing under these
conditions. i

The situation could be clear.
ed up by voluntary disclosure by
the large and responsible merch-
ants and lenders, and they would
benefit the public and themselves
by prperly stating the rates which
are now being charged.

The public’ would benefit by
heing able to shop wisely for their
borrowings; the merchants and
lenders would benefit because the
fringe opeartor would be forced
by example to declare, and inher-
ent competitive advantages of the
Jarge merchants and lenders would
be apparent and available to the
public.

. 8
Far from taking. such: an atti-
tude, some of the-lenders are even
fostering the impression that ,it is
not possible to determine the true

A big free show
with acts ranging from Maori.dan.
cers from New. Zealand to brass
bands will be staged on opening
night of the Aug. 18 - Sept. 3 Pac-
iffe National Exhibition.

The show will be held in Em-

. pire Stadium.

‘The dancers will be crewmen
of the New Zealand crujser Royal_)
ist that will be visiting Vancou-
ver at the start of the exhibition.
Another big navy feature. will
be the famous Sunset Ceremony
performed by a crack drill ‘squad
and the band from HMCS Naden
at Victoria.

More music. will be provided
by the. Barrie: Collegiate Boys’
Band from Ontario, which is mak-
ing a Canadian and’ American
tour, This is only some of the
entertainment that will be in the
show.

Jewelery Display
At B.C.’s PNE

Jewelry making from start to

{finish will be displayed in the

THE PENTECOSTAL
TABERNACLE

Prayer and Bible Pare 'Thurs-
day at 730 pm.

Young People’s - pete at 730 pm,

ROBSON MEMORIAL CHURCH

United Church — Ist and 3rd Sun.
days at 11 am,

Anglican Church — ond and 4th
Sunday at 9 a.

Baptist Church — sth ‘sunday
ST. DAVID'S ANGLICAN
HURCH
Friday Eucharist - 6 p.m.
Sunday Eucharist - 8 a.m.
and 11 a.m.

Rev, C. R. Day —-Parish Priest
CALVARY aia neni

Grace Presbyteria:
9.30 to 10.30 SS. and pomily Ser.

"7.30 Gospel Service

Thurs, 8 cpm Prayer Meeting.
Pastor G, Frase! + Ph, 365-5676

LUTHERAN CHURCH
at St. Alban’s Anglican Church
3 p.m. Service
Rev. Harold C. Clark

WE HAVE THE

BEST RECORD
"IN-TOWN:
RICK’S
240 - Ist Ave.
DIAL 365-5951

Craft and Hobby Show at this
year's Aug, 18 - Sept. 3 Pacific
National Exhibition.
The Vancouver Lapidary Club
will start with rough stones, grind
and polish them, .make the set-
tings, and finish with a completed
piece of jewelry. that would make
any woman proud,

The live exhibit is only one of
many that will be featured in this

HOUSING HINTS -

Q. Is the average person pur.
chasing: a home today. getting a
good" buy?

A. Yes, The prospective home-
owner knows : what he wants and
in most cases -won't settle:for any-
thing less, The’ man buying a home
today is more ‘discriminating, and
one of the reasons, ofcourse, is
that people are becoming: better
informed on the subject and con-
sequently ‘are: more’ home con-
scious.» Today's: large’ subdivisions
are another factor. A potential
homeowner has’ a chance to com-
pare, housing ‘in’ a way” that’ was
not. possible a few years age. *

SEC
-VIPO N D

FOR
VEL 1
Air, Rail & Ship
TICKETS

1560 Bay Ave. - Trail
Use our Toll Phone

ZENITH 6181

year's show.

cc

rate of'Interest for installment
credit. This is nonsense.

It is “easy to calculate the rate,
compounded monthly, on this an.
nuity and the lender knows it to
the last decimal’ polnt, ‘”

If it is accepted that the rate
can be calculated and expressed
by the lender, the reluctance to
do so must be due to a feeling

Funeral is Hold
For 98-Year-Old

Funeral services were held on
Aug..7 from the Russian Hall, Cas-
peges, for Fanny Popoff, aged 98

Born in Russia, she came to
Canada 62 years ago and ‘resided
in Saskatchewan for 40 years. She
came to Castlegar in 1940, and has
been i jo the' province for 21 years.

Popotf was predeceased
by tot husband, Andrew, ‘in 1918,
and. was: also predeceased by two
sons and a‘daughter. She is sur-
vived by one‘son, Nick A,‘Popoff;
11 grandchildren, 32 great grand-
children ‘and. six. great ‘great
grandchildren,

Interment followed the fun-
eral service in Brilliant Cemetery.
Castlegar ‘Funeral Home was in
charge of arrangements.

that the rate is too high to be
acceptable.

The answer. to this: is ‘that
the rates are high because of the
high and_ unavoidable’ administra-
tive cost of placing small amounts
of money on a month! repay-
ment basis. %

ele

The ten cost of adininlater-
ing these loans is’so obvious, once
it is pointed out, that ft would be
surprising if the borrowing public
now paying’ these costs would ob.
ject to their disclosure in the form
of true rates, when such disclosure
would bring definite ee |
and benefit.

Surely it should be possible aE
justify a table of sensible rates
for leriding to individuals of widely
differing © circumstances, ,

Disclosure of rate ia inevit-
ably going to develop; pressures
from within and without the in-
dustry must eventually force it,

When disclosure’; is » normal
Practice, an’ orderly market will
be created. It might very, well be
that the” present wide ‘range ° of

rates would be narrowed; ’ in any
case, the public and the best types
of lender and merchant would
benefit, :

It should not be too much to
expect that initiative in this mat-
ter might bi by respon.

tinues ‘to

however moderate — to bring or-
der from chaos, nothing less than

oppose ‘every effort: —

8
sible lenders and merchants. them-

gulation can be expected.

and ‘re-

Connm
Printing

CASTLEGAR NEWS

ea "i I

A A

ccc

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Largest and and ‘ost fully equipped Garage: and
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Looks like a big year for rides at the PNE. Want to dovit-yourself? There 'a'a pace for every age:
aswingin’ Bonet: amad, Mad Mouse, the graceful Ferris whee the rollicking kiddies’ rides,
e experts in action? You'll find your thrills in the spectacular

Ride... the bareback acts at the[Shrine-PNE Circus, . . the Race Track at Exhibition Parle,’ And
for the ride to end ail rides—how about the Human Cannonball Act? Come om, cin Shoat: :

Rather watch th

you'll Tay, ride high at the As Canadian Cavaleadel

CANADIAN
CAVALCADE

PACIFIC NATIONAL EXHIBITION, VANCOUVER, CANADA

In The

Rides for.
HORSE

975,

ROMP Musical

AUG. 18
SEPT. 3

(except Sundays)

EMPIRE STADIUM -

GRANDSTAND SHOW:

‘August 20 to SeptemberB

World.Famous RCMP
jusicat Ride, Colorful

junior Tattoo, Zacchin

rhe Human Cannentall,

igh

A Gigantic Fireworks +
DAZZLING

SHRINE-PNE CIRCUS
oe a

EAGRIGHT
fret Pet t High Act
CANADIAN TNDIAN
Brclent< Srl Smoked.
Salmon Barbecue.

TIMBER SHOW:
Climbing, a
Canine leet
Competition.
MILLION-DOLLAR
A Million Thellts= New

ail Ages.

Biggest Purses in
Meas cn cecnr

MISS PNE CONTEST:
Seauty mi Its best from
‘Canada’s Northwest.

1,000 1H
PROGRAM PRIZES:
Ciiterent Cars z every Daye.
fan

120 ~ $30,000 Ti
piss soo ere
an landscaped it

CHAMPIONSHIPS
5 WILUE THE

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THIS ADVERTISEMENT: 1S NOT/PUBLISHED OR DISPLAYED BY THE LIQUOR CONTROL BOARD :

Refreshing
as the tang of. mountain

Enjoy EEE visit to the 2
Kootenays with

KOKANEE

Pp Isener beer |

The deur of ‘the Kootenays

is unforgettable ace wits mountains,
glaciers, lakes, and streams.‘
Enjoy ail this,.and then relax with a cool
glass of: Kolanee Pilsener : Beer.:

as a mountain ream’.

: Try at. You'll like'tt
THE PRIDE ‘OF THE KOOTENAYS.

Renata

Socials

Mrs, M. Rohn

Mr, and Mrs, F. Galliker of
Vancouver are visiting at the
home of Mr. and Mrs. P. Warken-
tin. | i A

Mr, and Mrs, Gordon Dyck of
Waldheim, © Sask., were recent
guests at the home of Mr. and Mrs.
C..P, Rempel,

) Mr, and Mrs, J. Reimer, Jr.
and Sharon and Wendy of Nakusp
were weekend visitors at the home
of Mr, and Mrs. J. Reimer.

Billy Hale of Cranbrook was
a weneng visitor to Renata,

John'Anderson and dau-

ghter, Gracé have. returned to
Agassiz after spending a month
here at their summer home. s
Mrs. R. Sahlstrom and .dau-
ghter Gwen have left for Vancou.
ver where she will joln her hus-|§
band who has been attending sum-
mer school. 5 ¥
Miss Leone Friesen of Proctor
was a weekend visitor ‘to Renata.
Mr, and ' Mrs... M.° Wolfe of
Kinnaird were weekend visitors at
the home of Mr. and Mra, F. Wen

Mr. and. Mrs,

a, Letkeman

‘J have returned ‘home after spend.

ng a few days holiday at the coast.

Funeral Was Held on Friday
For Jandetner Hoogestraat

“Funeral services “were held
Friday from the Castlegar. United

in Shaunavon, -as well. as’ many
other buildings there. ‘He mi ile,

Church for Jandetnéer Hoogestraat, | his

32, of Castlegar .who died acci-

"dently at Greenwood last week.

Mr. Hoogestraat is survived by

two years ago, At the time of his
death’ he’ wes employed in'a log-

his wife, Marcalla, two
Rosina and Tina,'and a ‘son’ Ger.
hard, all ‘at: home, ‘and his par-
ents, two brothers and four sisters
in Germany. J

Born in Germany on Nov, 20,

ging at Gi

Rev. R. H. Pratt’ conducted
the funeral zaceyice end el organlet
was Mrs. S.- Simcock.
included “Rock. of rete and we
bide | With’ Me." The’ Castlegar.
Funeral. Home was in charge of

hie ¢ducation there and appren-
ticed in the contracting, building
and cabinet making business. He
came to Canada in 1952, settling
at Shaunavon, Sask.

He built the Dr. Green Clinic

and burial was in
Park Memorial Cemetery at Kin-

Pallbearers were Gerald Fran. z
els, Ronald Francis, Leo McCarthy, : phy : Porat Oe

Robson

Socials”

—— ll King Size Cheer, box bk,

Mrs, T. Sanford, Ph, 365-5883

Mr. and Mrs,. W. R. Brown
and girls enjoyed a short holiday
recently: at Penticton. Upon’ re-
turning home they . had “Mr.
Brown’s parents, Mr. and’ Mrs;
‘W. H. Brown of Regina as guests.
for a few days,

Mrs, P.. McPhee and Eric re-
turned home last week from a
three-week holiday spent at:Fer-
nie and Cranbrook. They. were .ac~
companied home by Mr. and Mrs.
M. McPhee and children of Cran.
brook. While visiting here they
enjoyed trips to Christina Lake.
and Slocan Lake.

Atfer spending several weelcs
holidaying at the. coast, Mr. and
Mrs, H, Hyson returned home last
week. While Mr. Hyson spent two

reeks at Cadet Camp ‘at’ Sea Is- } ©

visited: friens

Mrs. » Hyson.
te the ntravelled’ on ‘the ‘Island |}

stopping at Campbell River, Qua-
Jicum Bay. and. Saratoga ‘ Beach.
They spent two days at Seattle
World's: Fair. which. hey enjoyed
greatly, and~ then on to Robson,
visiting in Chilliwack and: Okan
gan - points, 1
2. Mr, and . Mrs, B.. Krahn of
Altona Manitoba, have spent two
weeks‘: recently, ' visiting .: atthe
homt® of ‘their da

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children,-Mr. and Mrs. C, Wilkin-
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iors of. Yellowknife as TOPS :
ree SARDINES, 10 tins... $1.00 | Dog FOOD, 11 tins ..... $1.00

RED LABEL -

NO NEED TO

BOTHER WITH

‘TRAVELLERS
CHEQUES!

Travellers Cheques are atrictly for people who
p want to keep their. money safe when travelling. -

Everywhere you go, in isurope or Canada, »

economical Travellera Cheques. sold by_ the
“'B of M can be cashed quickly. and easily — but
only by you. You sign them when you cash them,

So if your money is for spending —and not :
for burning —- do whiat' modern travellers do. : :
—turn it into Travellers
Cheques at. the B of M before’
you go. They’re available in
Canadian‘ or U.S. dollars or

; Sterling.

BANK OF Monranan:
parma Fost Banh

iastiegae Branch:

JAMES LAMBETH, Manage.

‘WORKING WITH CANADIANS. IN EVERY WALK OF LIFE SINCE isi7,

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T. ONES OR SIRLOIN» :
STEAKS, LB. ............ 98

_WEINERS, LB. 39¢

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Hams, Half or ‘Whole, ib.

BROOKFIELD, 2-LB, BOX” pepe . a9
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