CASTLEGAR NEWS,

July 24, 1983

WEEKEND FUN... Firemen go at it in the beer
it t l

arrel

d's SunFest in

at las y
Pass Creek Park, while young lady gets set to make

her frog jump in the anni
petion. ‘

1982 terrible for mining

up a $161-million loss in 1982, one of its worst performances
ever as metals prices and demand continued to slump.

Except for a relatively strong showing by coal
producers, the industry’s loss would have been much higher.

A report released this week by the Mining Association
of B.C. shows that of the 29 operating mines in the province
last year, 19 of them lost a total of $239 million,

: The survey covers only the major mining companies and

not the junior mines in the province. 2

Of the 10 mines reporting profits totalling $88 million,
one was responsible for more than half. Although the report
doesn’t break down individual mining company’s earnings, it
was Westar Mining Ltd., a subsidiary of B.C. Resources
Investment Corp., which accounted for most of the profit.

Mi A if P Tex Ei said not
only did prices decline during 1982 to, in many cases,
historically low levels, but the industry had to bear higher
labor, government and energy costs.

INVEST RECORD AMOUNT

“Last year the industry invested in the province a
record, just about a billion dollars, in exploration develop-
ment and new i I of h coal,” he

in the future of mining in the province.”

Enemark said the ratio of wages and benefits to net
mining revenues jumped to 48 per cent in 1982 from 26 per
cent in 1980 and fuel and energy costs soared 88 per cent in
that period. ‘

“Those kinds of percentage increases are just not sus-

tainable trends so we have.to get our costs under control. °

This continues to be an issue relating primarily to wages.”
_ The report was prepared by accounting. firm, Price

Waterhouse for the Mining Association. 4

The $161-million loss compares with a profit.of $98
million in 1981 and a profit of $418 million in 1980.

P FIRST LOSS SINCE 1967

The overall loss was the first recorded since Price
Waterhouse began compiling financial information for the
industry in 1967. A

In 1982, sales revenues slipped to $2.17 billion from $2.4
billion in the previous year and $2.49 billion in 1980.

The industry reported a negative return on share-
holders’ i of6.2 per cent ip with a positive
return of 4.8 per cent in 1981 and 24.4 per cent in 1980.

For the year, coal was by far the top revenue earner
with $550 million, up from $514 million in 1981. Coal

said in an interview. “So there’s an sense of faith

declined slightly, however, by four per cent to

10.66 million tonnes from 11.04 million tonnes in 1981.

Copper, which in recent years has vied with coal for top
revenue earner, slumped 27 per cent to $320 million from
$483 million in 1981 and more than $500 million in 1980 and
1979,

million, up from $158 million in.1981,but
pin O80, . , 2

Gold sales fell sharply to $76 million from $120 million
and molybdenum revenues remained mired at $162 million,
down from $188 million in 1981 and $298 million in 1980.

Zine sales in 1982 slipped back to $198 million from $225
million in 1981, lead revenue skidded to $65 million from
$114 million and asbestos fibre sales fell slightly to $66
million from $68 million.

JAPANESE SALES DOWN

Sales to Japan, which has been the industry's leading
customer for many years, declined seven per cent to $716
million from $772 million in 1981. However, Japan's

to total to 44 per cent from

42 per cent in 1981.

Sales to the U.S. were $232 million, or 14 per cent of
sales, dropping from $259 million in 1981.

Sales to the United Kingdom dropped to $76 million
from $119 million and sales to the rest of Canada fell to $171

Bank of America biggest

NEW YORK (AP) — Bank
of America is still the world’s
biggest bank in terms of de-
posits, while no Canadian
banks rank in the top 25.

In its annual ranking of the
world's biggest banks, the
trade journal American
Banker says Bank of Amer-
ica, with $95 billion (U.S.) on
deposit at year-end, main-
tained its top spot from a
year ago.

Also unchanged from the
year earlier, with deposits

IN_FIRST HALF

translated to dollars, is No. 2
Banque Nationale de Paris,
$90.6 billion; No. 8 Credit
Lyonnais (Paris), $83.6 bil-
lion; and No. 4 Barclays Bank
PLC, London, $83.6 billion.

National Westminster
Bank PLC, London, $80.8
billion, moved up from No. 8
in the previous year to the
fifth spot.

Rounding out the top 10:

— 6. Credit Agricole Mu-
tuel of Paris, $78.4 billion,
down from fifth in 1981.

Cominco loses
$22.7 million

VANCOUVER (CP) —
Mining giant Cominco Ltd.
lost $22.7 million in the first
six months of 1983, com
with a loss of $14.4 million in
the same period last year.

Sales for six months were
$677.2 million, up from $648.5
million in 1982,

Chairman M.N. Anderson
said the company’s mining
and integrated metals divi-
sion performed better this
year, due to higher silver and
gold prices. But the tem-
porary closure of Pine Point
Mines and an eight-day strike
at Cominco operations in
Trail and Kimberley had ad-
verse effects.

In further B.C. business
news, Scott Paper Ltd. made
a profit of $4,660,000 in

the first six months of 1988,
compared with a profit in the
same period last year of
$4,164,000. Net income per
share after taxes was $1.88,
compared with $1.64 in 1982.

In a news release, the
company said net sales in-
creased 13.6 per cent to
$106,317,000 from
$93,593,000 last year.

Chairman George O'Leary
said reduced interest ex-
penses resulting from lower
interest rates were partly
responsible for the increase
in profits. He added that re-
sults in the second half of
1988 may not be as good due
to the start-up of a new dry
crepe tissue machine in east-
ern Canada.

— 7. Deutsche Bank of
Frankfurt, -$75.8 billion,
down from sixth.

— 8. Citibank of New York,
$74.5 billion, up from ninth.

— 9. Societe Generale of
Paris, $78.4 billion, down
from seventh.

— 10. Midland Bank PLC,
London, $71.2 billion, un-
changed.

Among the top 10, Ameri-
can Banker says, National
Westminster's
rise in deposits was the larg-
est, advancing it three
places.

. NOCANADIAN LISTED

Bank of America and Citi-
bank are the only U.S. banks
within the top 25.

No Canadian banks were
listed in the top 25 in terms of
deposits, although the Royal
Bank of Canada and the Can-
adian Imperial Bank of Com-
merce would appear to rank
among the world’s largest
banks in terms of total as-
sets.

The Royal, Canada’s big-
gest bank, had Canadian dol-
lar assets of $88.5 billion at
the end of 1982, about $72
billion (U.S.).

However, its deposit base
wasn't big enough to vault it
into the top 26 banks world-
wide. It was the same with

d.

Additionally, Bank of Tokyo
had the largest gain in rank
from last year, up seven
places to No. 24.

The bank's deposits total-
led $60.9 billion on Sept. 80,
1982, up from $48.6 billion a
year earlier. f
EURODOLLAR INCREASE

The gain in deposits over
the period was attributed
primarily to an increase in
Eurodollar deposits, the bank

id.

6.2-per-cent ' sait

In addition to Westmin-
ster, Citibank and Bank of
Tokyo, three other Japanese
banks moved up within the
top 20. They are:

— Fuji Bank Ltd. of Tokyo,
$65.9 billion, moved to 12,

— Sumitomo Bank Ltd. of
Osaka, $65 billion, moved to
18,

— Sanwa Bank Ltd. of
Osaka, $61 billion, moved to
16. eee

In the U.8., bank holding
companies are ranked by as-
sets because, in addition to
the bank operation, many

million from $246 million in 1981.

Total employment in the industry declined by 12 per
cent to 17,902, due to layoffs and closures,

Despite the loss of employment, total mine salaries
increased four per cent over 1981. to $613: million. Average
salaries and benefits per employee rose 16 per cent to
$89,900 in 1982 from $84,400 in 1981 and $28,800 in 1980.

The weak metals markets in 1982 ted in
mine shutdowns in B.C., mostly on a temporary basis.

However, the two main molybdenum producers —
Placer Development Ltd.’s Endako and Amax of Canada
Ltd.’s mines — were closed in 1982 and probably won't

reopen until 1984,

CUCDLLUDUUNEDEUUANNGaNEEevaanvegagagegenaeyncoonnencuecoaauauecsteeagnenanuuaneeacadgeesncthannt

Kamloops
economy
still reeling

H KAMLOOPS “(CP)'— Across Canada, | cities are

: is ng being from
the critical list. But community workers say this dusty
resource-based centre is still in the emergency ward.
They say unemployment — which reached a Canadian
high of 27 per cent in December — is still rampant.
Keith Simmonds, 25, a laborer at Afton Mines who
at the city’s U! i G Centre,
shakes his head when asked about Statistics Canada figures
that put the local unemployment rate at 16.2 per cent in
May

y-
As he sees it, about 16,000 of the 64,000 people who live
here don't receive a pay cheque. :

Mayor Mike Latta, more optimistic than some, says it is
not unreasonable to suggest that local unemployment will
drop to 10 per cent by August.

CALLS WORKERS BACK

Balco Industries Ltd., which has lumber and plywood
operations in Kamloops, Barriere and Merritt, laid off half
its 6650 employees in early 1982 but as called them back to
work, ‘ f

A pulp mill operated by Weyerhaeuser Canada Ltd. was
idle four times last year, but company spokesman Larry
Lemon says that operation now is “going full out.”

And Afton Mines, which laid off 400 workers at its
copper in June, 1982, has recalled 850 workers.

Inco racks up
$40 million loss

TORONTO (CP) — Finan-
cially strapped Inco Ltd. an-
nounced this week a $89.7-
million (U.8.) loss for the
second quarter of 1983 — its
eighth straight quarterly loss
— compared with a loss of
$86.9 million during the same
period of 1982.

The Toronto-based nickel-
producing giant said sales for
the April-toJune quarter to-
talled $284 million, down
substantially from $357 mil-
lion in the second quarter of

For the first half of the
year, Inco lost $116.6 million
on sales of $560 million com-
pared with a $74.1-million
loss on sales of $748 million in
the 1982 first half.
TRENDS ‘ENCOURAGING’

“While improvement in
nickel prices during the quar-
ter was modest, general
economic trends continue to
be encouraging with the
consumer-led recovery in the
U.S. gaining momentum and
leading. economic indicators

operate
finance and mortgage oper-
ations, credit card centres,
international investment
units and the like.

1982. The Pp: re;

ports

its results in U.S, dollars,
The company said although
financial figures are worse
than comparable results re-
ported last year, they show

bank's diversified parent

ked C ce,

Citicorp. BankA

which had Canadian-dollar
assets of $68 billion, or $55
billion (U.S.).

Corp.
is ranked No. 2, but second
quarter financial results, ex-
pected later this mo ith, will

Seven of the
banks between 11 and 25 are
Japanese, with Bank of Tok-
yo showing the largest de-
posit increase among the top
20 — a 16.8-per-cent gain.

heth Bank-
America’s acquisition of Sea-
ttle’s troubled Seaiirst Corp.
will be sufficient to bring
BankAmerica Corp. to the
top of the list.

impr
over the first quarter of 1983.

Losses have been reduced
by almost 50 per cent since
the first quarter, when the
company reported a deficit of
$76.9 million, Inco said in a
statement. Reduced shut-
down costs and slightly high-
er nickel prices were respon-
sible for the

in Europ show-
ing improvement,” Inco said.

It said if the current re-
covery is sustained, higher
capacity utilization and in-

Those involved in the construction industry are feeling
the pinch more acutely than any other sector of the
Kamloops economy. 2

Vic Morden, business agent of the Construction and
General Laborers Union local here, says 75 per cent of the
members were. out of work in early July.

The Thompson-Okanagan Pulse, a business magazine
published in Vernon, says 181 construction permits were
issued in Kamloops in the first three months of 1988 for
projects valued at a little more than $18 million, In the
comparable 1981 period, 443 permits were issued for
projects worth $28 million.

HELP RAISE SPIRITS

Korley, Simmonds and Woodland are involved in
projects aimed at raising the spirits, if not the dollars, of
Kamloops.

Korley heads Kamloops Amalgamated Resources, an
umbrella organization for several local community aid
projects.

KAR was formed last December by a ‘group of le
“who felt that something should be domes nae an Leas
phere where people could enjoy their unemployment.”

The key to creating such an atmosphere, says Korley, is
through a pooling of skills, resources and manpower.

He cites the community gardens Project — residents
with gardens they do not maintain allow their unemployed
neighbors to farm the property. The two parties then
develop an arrangement suitable to each of them — such as
splitting the produce that grows on the land.

INFORMS THE YED

Simmonds’ guidance centre, like the local food and job

banks, comes under KAR's roof. It was set up to inform the

creased ding on capital
goods will result which, in
turn, will spark demand for
Inco’s products.

Last year, the Sudbury
work force was cut to about
11,300 employees from 18,800
and a production shutdown of
eight months followed a
strike and vacation shut-
down. The company plans a

the company says.

Sudbury for one
month this summer.

of g benefits to which they're en-
titled; to teach them about conselling agencies that are
available and to help them in their dealings with financial
institutions.

Simmonds tries to help people overcome the stigma at-
tached to welfare.

“T told one lady that welfare is there because we asa
society decided we wouldn't let people starve to death,” he
says,

“I told her that if she's not on welfare, she's saying that

she's too good to take our help. That approach usually
works.”

of Robson, while the bride is
James Czeh of Sparwood.

burgundy flowers.

good luck.

during the recessignal,

uncle of the bride.

MR. & MRS. RICK WHITE’... Residing in Sparwood)’

Couple wed —

Rick White of Robson and Arlene Susan Czeh of
Sparwood were wed in a spring wedding ceremony at
Holy Family Church in Sparwood May 21.

‘The groom is the son of Mr. and Mrs. Thomas White ‘
the daughter of Mr. and Mrs,

_. Given in marriage by her parents, the bride wore ‘a
sheer chiffon knit gown with acetate and nylon lace, lined
in acetate taffeta. The gown had a Queen Anne neckline,
a lace applique and simulated pearl accents,

The sheer lace bishop sleeves had pearl snap cuffs.
The skirt formed a chapel-length train. ops

: She wore a mohair hat with veil. The hat was
trimmed with alencon lace and pearls. The bride's
bouquet consisted of a cascade
baby’s breath. She also wore a string of pearls.

Her. attendants were matron of honor: Mary
Mattersdorfer of Fernie, Pat Bourne and Colléen Bailey
of Sparwood, and Karrie Czeh of Fernie.

They wore pink chiffon gowns with full skirts and a
double frill at the bottom and carried fans with pink and | ./¥'® | |

Flower girl was Sharlene Czeh of Fernie and ring-
bearer was Freddy Mattersdorfer of Fernie. Charlie
Mattersdorfer, also of Fernie, carried a horseshoe for

Best man was Kevin Basran of Castlegar while
ushers were Dave White of Cranbrook, brother of the | W
groom, the groom's cousins Glen and Brian Labby. of
Chase, Pat Salisbury of Castlegar, and Darcy Matters-

dorfer of Fernie (junior usher).
Musical selections during the ceremony were “The
Wedding Song” and “We've Only Just Begun,” played

Organist.
aferemony was, officiated by Father) Christen.(2./

‘The reception was held at Fernie Community Centre
which was highlighted with a pink and white heart
bearing the names of the bride and groom. The tables

were accented with pink tulips.

The cake was three-tiered, each layer a different
color, in line with the color scheme of pink and white. The
cake had a glass topping with roses under the glasses and
a bride and groom top on the second layer.

Master of ceremonies was Paul Markin of Castl
Toast to the bride was given by Jack Marasco of Fernie, eee et ie

The newlyweds are residing in Sparwood, after a
{honeymoon trip to California and Mexico.

: JENNER, CALIF. (AP) —

Prayer wheels gleam in the
California sun and the 24-
metre copper dome sparkles
as yolunteers work at Odi-
yan, the first Tibetan Bud-
dhist. monastery in the
United States.

On ‘a sunny day, the
* 60-room structure built on a
hilltop compound 128 kilom-
etres north of San Francisco
can be seen for kilometres,

Tibetan lama Tarthang
Tulku, who runs the Nying-
ma Meditation Centre in
Berkeley, calls the imposing
temple “my gesture.”

its beliefs and this is just
another type of belief. I don’t
know’ what: form Tibetan
Buddhism will take here. It
will take centuries. You and I

won't exist in the next few
centuries, but this will.”
The temple is being built
mostly by’ volunteers.
Prayer wheels — barrel-
shaped copper cylinders
about 900 centimetres high
and 450 centimetres in dia-
meter —surround the shrine.
A 84-metre Buddhist
stupa, seen as a “manifes-
tation of the enlightened

heart and mind of the Bud-.

dha,” sits a short way from
the temple, its prayer wheels

fi

Temple first one in U.S.

Buddhist
gathered. i
Tulku and other Odiyan
officials said around $2 mil-
lion has been spent on
materials for the temple and
the project has been financed
by “small contributors.” The
site was purchased for “be-
tween $250,000 and $300,000”
in 1975, officials said.
“We would like to become
a resource centre for scholars
around the world, a kind of
clearing house,” said Jack
vi of

canons ever

0

CASTLEGAR NEWS, July 24,1983 BS

infant, fled Tibet during the

Chinese invasion of 1969 and ||
settled in India, teaching’
Buddhist philosophy at San-

skrit University in Benares,

He started a Tibetan-lan-

guage publishing company

before departing for the

United States.

“We don't want our culture
to disappear,” he said. “An-
cient cultures have some-
thing to offer modern so-
ciety.”

G

CASTLEGAR
UNION

WILL BE

CLOSED

Saturday, July 30 for the
B.C. Day Holiday

Castlegar & Slocan Park Branches

SAVINGS CREDIT |

rotating ,

Besides a large meditation’
hall, the central structure
features a library with 80
cabinets for 120 volumes of
Buddhist canons, Tulka said.
Tulka’s Dharma Publishing
of Berkeley printed the
canons, which ‘he called the
_most complete collection of

(Vital Statistics /

GIRTHS a
DE GROOT — To Mr. and Mrs,
Tom de Groot
born July 10.

Bari a See
rel ey, Go girl,
‘bord suly 15. ; a :

‘LATTANZIO — To Mr. and Mrs,
John Lattanzio of Trail, a girl,
bom July 3, Rees
LEPITRE — To Mr. and Mrs. Den-
nis Lepltre of Nelson, a boy, born
soly.17, 2 yas if ? ~
MACKIE — To Mr. and Mrs, Pet
‘Mackle of Nelson, o girl, born
of red roses with sprays of | July19.
McMAHON — To Mr, and Mrs,
Clinton McMahon of Trail, twin
girls, born July 6.

OLSON — To Mr. and Mrs. Ken
Olson of Robson, a boy, born.

: SUTTON — To Mr. and Mrs.

Wayne Sutton of Castlegor, a
itl, born July 16. ;
TONER — To Therese Toner and
Tyrone White of Nelson, a boy,
born July 13.

fARD
girl, born July 17.

FUNERALS
ARISHENKOFF — Bill Mike
Arishenkoff of Crescent Valley

July 13 at the

wag Allan Schianni. The
‘restova Cem:

CARON — Jean Baptiste Caron
of Rossland died In Trail sudden-
ly July 17 after a long Iliness. He
was 70. Prayers were recited at
Sacred Heart Catholic Church In
Rossland July 19. Funeral moss
was celebrat Rev. Bernard

‘at Sacred Heart July 20.

lowed at

View Cemetery.

CCHERNENKOFF — John W. Cher-
nenkoft of Salmo died Monday at
Kootenay Lake District Hsopital
In his 62nd year. Funeral ser-
vices were held July 20 and 21

,

of Nelson, a boy, | C

fOODW. —ToMr. and Mrs, ~
Ken Woodward of Rossland, a"

from Salmo Russian Hall with In-
ferment at the Boulder Creek
emetery,

eer
CHERNOFF — Joseph J. Chemott
of Krestova digas tesidence
, duly.17, aged 43 years.

MASARO "— ‘Amabile Tereso
Masaro of Trail died suddenly
duly).18f Trail: Regional
‘ Hospital.’ She was 80. Prayers
were recited at Our. Lady of Per-
etual Help Catholic Church July
‘21. Funeral moss wos celebrated
‘ by Rev. Armando, jo \In'the
schurch July 22. .Interment
followed at Mountain’ View
Cemetery.

*
MELVILLE — John Melville of
ssed,

Castlegar
hie Gene

Cremation followed,

RIMKUS — Joseph Rimkus of
Nelson diedJuly 14 in Kootenay
Lake District'Hospital, aged 71
years. unr Hype was held
uly 18.50 B creament
Roman cathalte Chunk alton,
with Rev, M. Santo Pinto

celebrant. Interment followed in
Nelson Memorial Park.

SAMSONOFF — Irene Samsonoff
of Blueberry Creek, formerly of
Shoreacres, passed away July

Dharma Publishing.
Tulku, selected as~an in-

carnate lama when he was an

Polly Sookachoff of Castle-
gar passed away July.20, age
64, Mrs. Sookachoff was born

an ardent gardener and loved
to crochet and knit.

Mrs. Sookachoff- is ‘sur-
and Cyril of Blueberry C
and Paul of North Delta; six
grandchildren; and one

"brother, James ‘Osaclioff of

Lethbridge.

; She was pred by
? her parents Pete nie}
~vone brother, Pete; atid her

husband, Nick.
Funeral services we:
Friday and Saturday@@e
Funeral

with burial in Park

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Cemetery. Should friends
desire, contributions may be
made to the CATscanner
fund c/o Trail Regional Hos-
pital.

13, aged 73. Funeral services

were id july 16 and Ng et the Funeral arrangements un-
reac ssian tl "i

burial in. the. Shoreacres der the direction of Castlegar

atery, Funeral Chapel.

Funeral held for :
Fred Kinakin

Fred Kinakin of Kiro 1912 where he grew up and
Manor, Trail, away worked most of his life as a
July 21, age 88. Mr. Kinakin farmer and logger.
was born in October, 1896 at He is survived by one son,
Tiflis, Russia and came to Sam of Castlegar; two grand-
Castlegar in 1899, settling in daughters, Virginia Deaver
Saskatchewan. of Detroit, and Tanya Savoye

He moved to Brilliant in of Calgary; and three great-

grandchildren.

Z Puleit & Pew —

by Ministers In the
West Kootenay

Mr. Kinakin was prede-
ceased by his wife, Polly, in
1936. Funeral services were

By TED BRISTOW
Castlegar United Church
He was once a_ great

pianist. Now he was 90 years
old. The reporter was to in-
terview him in his music
room.

"He entered, bent, hunch-
backed, shuffling, his face
showing signs of evident
pain.

The old man made his way
slowly to the piano. Stiffly,
he sat down, and with great
effort began to force his fin-
gers to press the keys.

The, the reporter noted,
the miracle happened. The
miracle of music.

The notes became surer.
The..old man began to
straighten up. His face re-
laxed. In a few bars, the
beauty of the music came al-
most effortlessly from that
same old man who a minute
before had been forcing him-
self to keep on his feet.

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The love of the~ music
helped the man forget, and
overcome his aches and

100 per cent better.

The best way to overcome
ourselves is to get involved in
something bigger than our-
selves.

Jesus may have been
thinking of something like
that when He said, “He who
saves his life (looks after

pains.

You have had the same
thing happen to you. You
have been tired, or de-
pressed. But then you got to
doing something far more
important than how you were

feeling, and before long felt he who loses his life (forgets

number one) will lose it, but,

himself) will find it.”

lem bigger than your own, or,
like the old man, you can find
yourself by touching a reality
far deeper and richer than
your own smallness.

God, like music for that old
man, is always waiting to
give us new life.

held Saturday evening at the
Castlegar Funeral Chapel

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