+ gar is to be

= SS
wo. Castlegar News Jonvory is, 1989

oint dinner
meeting held

At theJanuary meeting of thé Trajl
District Wome
Cormack wel
comed members. of the Business and
Professional Women’s Club, as. well
as their president, Janet Bublitz; tp
the joint difiner meeting
Minor blub details ‘dealt
Cormack Werided Wore
about the planned March fund-rais
ing dinner for Selkirk. College schol

and University

Club president Jean

with by

information

arships

Ii lieu of gift-exchange, $66 was
collected at the meeting
forthe Chilterns Development Cen

tre. Expense

December

money-given to Debbie
Blayney was donated by her to our
well as the
raffle of her
at the

scholarship’ fund, as
money raised by the
Christmas flower arrangement
meeting
of Hedy Oleski
added to the program
CFUW pro.
gram brochure, Minutes were dis
triboredtthy Evetyn Jones

When it meets in Helsinki, Firi
lund. July -29-Aug.-S, the
tional Federation of University Wom.

The name Castle

committee in the new

Interna

en will celebrate its 70th anniversary
» the, founding year of
Federation of Univer
Vancouver's Club ori
back to 1907

Casselman, a

Vancouver's

CFUW
Kel

IFUW

world

pins go
late Jessie
e-president, established the

wna, Nelson and_Trail clubs.

shed to promote
Manning distributed t
and. Trait school dis:
mpetition, **What
for Peace?
Lethbridge
1986 Moscow

anis—of was

attend’ the

meeting for women throughout the
world

Bev Onischak and Brenda Balaam
mailed the club's newsletter and bro
chures’ to all club members’ Addi
tional program information was ‘giver
by Marilyn Mathieson

Guest speaker Ellen Rogers
duced by “Jil! Kenyon

information..on “investments:

intro:
presented
pen
She
was thanked by Lorraine Manning

Ruth Nuyens of the
Professional Women’s Club, express:
ed the thanks of the BPW for the
combined dinner meeting

The Feb
Lloyd Crowe Library (€ will
feature the NFB film No“Way
Not Me! The film

gramming mistakes and other errors

sions. and retirement planning

Business and

1 meeting at 7 p.m. at J
‘omplex
new

shows the pro:
in which girls find themselves trap
All girls, Grades 8 to 12 are

invited as well as their mothers. The

meeting will include
McClean

President Jean ¢

counsellor Olga

rmack welcomed
with Sandy Hart
na Rotar

introduced Ron

new members and
man. whose oldest son is ¢
exchange: in Mexico,
Ross, Rotary Club

hairs the stud

member, wh
ent-exchange pro
y's Paci
fic Northwest Region which stretches
from Walla Walla, Wash.. t
Idaho and the Kootenays
Golden, Of the-26

gram. Ross explained Rotar

parts of
north of
current exchange
students. 17 are in Canada
Ross” introduced: Mike Lalor
two-year Rotaty exchange student a
Stanley Humphries Sc
who leaves shortly for his home
Durba South Africa, t face tw

arsof mandatory

ondary sche

military service

and university

WOMEN'S
CLUB

Eileen Akselson gave a
presentation on quilting
at last Thursday's
Castlegar Christian
Women’s Club meeting
Fifty-five ladies-attended
the-meeting-tynr
Higginson from Trail was
guest soloist and Linda
Blackwell from
Kimberley was the guest
speaker

Bishop to visit Castlegar -

The major public highlight of his
will be a talk at the Capitol
in Nelson on Sunday. éven.
Jan, 22 during which he will look
at the links between the world debt
crisis, and poverty and environment

Anglican, Bishop Luiz Prado of
Brazil will be

CaStlegar-Nelson area this weekend

southern visiting the Visit
Theatre
Jan..20 to’ 23. ing,

Bishop Prado's visit to Canada is
part of the Ten-Days for World De
Fetopment -edtication program, a
project sponsored by the five

al concerns.
As well.
with the

Bishop- Prado—will_meet
Castlegar

major
CUSO and the
Centre for a

churches in Canada Amnesty

Kootenay

Future are also part o

group
person for a
day-long workshop at St. Paul's
Trinity in Nelson on Saturday, par
ticipate in Nelson's Lutherh church's

Sustainable- serve as a resource
-the. spon
soring COnTMITTES”

B.C. tour

is part of his

The

Sofa, Loveseat

Beat

3-Piece Groupings

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and Chair Sets

“out the

Sunday service and meet with stu
dents at Mt. Sentinel school ‘on
Monday morning

Bishop Prado s¢rves/jn a
Anglican Diocese in southernmost
Brazil. The mix of
small farms producing peaches
grapes and corn-and Jarger farms
with rice and livestock..On the coast
fishery
workers. Poverty is common through-
inctodingthe—cities
where a lack of sanitation
employment are problems
says Ann Godderis of the Casflegar
Amnesty group

The primary

new

area includes a

there- are fishermen and
area
and un

severe

message the bishop

wishes to bring to Canada concerns
the connection between foreign debt
and poverty

He has written

“In our country the
of the debt are facts of
One-third of Brazil's 135
people Tive in

Godderis says

social effects
death
million
poverty
although the country is the richest in
Latin
moral and unjust. The
model imposed on us'is a scandal and

complete

America. This situation is im

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Located halfway
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Trail & Castlegar
Open 9:30 a.m.-5:30 p.m.
Tuesday through Saturday

it is a very

silent process of death

and_murder of our people. We are

the eighth

gross national product yet we
more than 35 million, destitute

dren, of
abandoned

Between

richest

whom

1982

country in
have
chil
seven million are

and 1987, Brazil

paid back some $70 billion to foreign
creditors only to find itself $20 billion

Mail to

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BISHOP LUIZ PRADO
West Kootenay visit

further in debt than in 1982. Today it
has outstanding loans of $115 billion

In addition to his theological stud
ies, Bishop Prado also has-a-master’s
degree in human ecology. having
studied under Teilhard de
Chardin in Montpelier, France. The
Bishop has a deep respect for the
natural environment as well as the
He sees the preser

a year

people within it
vation of a significant ecological re
serve within his diocese as an im
portant part of his work

Following his West
Kootenay, Bishop Prado will travel to
Kimberley and then
Island where he will spend time in a

stay in the
to Vancouver

number of communities

on-below. Today

N K. FORSTER

GREAT PACIFIC MANAGMENT CO. LTD.
c/o MAUREEN K. FORSTER

P.O. Box 3083, Castlegar, B.C. VIN3H3

The Industrial Group of Funds
Managed by Mackenzie Financial Corporation

ll figures to December 1, 1988 are
average annual compound returns

based on the 1

meule only by prnpurtes thik
plete details of a

road K bachire neti

ng a purchase and

retain it for future reference

January 18, 1989

Castlegar News —_-®

Brit economy continues to soar

Editor's note: In 10 years, Prime Minister
Margaret Thatcher. has transformed the British
economy from an apparently terminal slump to buoyant
boom. Here's a look at that economy, its soft spots and
its prospects for the future.

By JIM SHEPPARD
The Canadian Press

LONDON int cranes in vivid hues of red,
yellow ‘and blue sprout like weeds these days from the
tongue-shaped spit of land jutting into.a bend of the
Thames River.

Thousands of workers swarm ant-like over masses
of steel-girded foundations as pile-drivers beat a

rhythmic pulse and steam jets whistle in the wintry air.

A few months ago, only derelict wharves and

abandoned warehouses stood on the site.
It’s a stunning change.
But the $7-billion Canary Wharf project, spear

headed by Olympia and York Developments Ltd. of
Toronto, is more than just a dramatic redevelopment of
where the wealth of “the

the aging east end docks,
British Empire was unloaded in the 19th century

Privatization
prompts gripes

Editor's note: As Margaret Thatcher's govern-
ment continues to sell off Crown corporations in
Britain, a legion of first-time shareholders is being
created. Their impact on the giant companies can be
disconcerting for the large\ shareholders.

By CONNIE WATSON *

and
JIM SHEPPARD
The Canadian Press

BIRMINGHAM, ENGLAND — Noel Falconer
shifted his tiny spectacles to the end of his beak-like
nose

Then he waved —a—type-written statement
entitled How We Lost Our Votes and a Million
Pounds, as he launched into an eloquent plea.

It's all well and good that the multibillion
pound British Gas has made massive profits in the
two years since_it-was sold by the gover t-to
private shareholders, the 55-year-old novelist and
retired —consulting engineer told the company's
recent annual meeting

But there doesn't seem to be too much change in
the way Britain's principal gas producer and
distributor rides roughshod over the interests of its
customers, Falconer complained.

Similar gripes are increasingly being heard
across Britain as Prime Minister Margaret Thatcher
and her cabinet vigorously pursue a program of
privatization, or selling Crown-owned corporations
to the private sector.

The Thatcher government says it's trying to
force market discipline on previously unresponsive
state institutions, raise billions of pounds for
government: coffers and spread share ownership
among a wide sector of the population.

In the case of British Gas, Falconer argued that +

the 2.8 million mostly first-time shareholders from
small towns like his native Stockport, in the English
Midlands, deserve their own representative on the
company’s board of directors to kedp a sharp eye on
the Big Boys and yuppie management types running
“our company.”

And if no one else wanted to challenge manage
ment's slate well, the small, almost peckish Falconer
was more than pleased to do so.

Block voting by the big shareholders and
financial institutions defeated him in the end

But Faleoner-did-seore points.

The meeting that had been scheduled to wrap up
with minimal fuss in less than 60 minutes dragged on
for four hours. Among the 2,000 shareholders
present in the arena-like meeting hall, Falconer's
supporters complained about overcharging on their
residential bills, lack of new appliances and not
enough women being trained for top jobs.

SOCIAL ISSUES

In that way at least, it was a mirror image of
British Gas's first annual meeting in 1987

Why doesn't the corfipany hire more workers to
help reduce unemployment— management was
asked then.

Why don’t pensioners get a break on their bills?
What are British Gas's connections with South
Africa?

The complaints eventually got under the skin of
Sir Denis Rooke, the company's chairman.

“We're not a social services agency,” he snapped
at one point in exasperation.

“T'm not here to deal with moral issues.

to deal with business issues.”

Many people don't agree with him.
WANT SERVICE

“One Of the most obvious things now when ybu

go to a shareholders meeting is that it’s a consumers

meeting,” says Prof. Christine Whitehead of the

London School of Economits, who has written

Tm

here

extensively on the “It's-not an
meeting at all.
“The people who are shareholders and go and
ask questions are the “ones who are bitterly
complaining that théy're not getting the service they °
wanted — as opposed to they're getting the return
(on investment) they wanted.”
That wasn't necessarily the way privatization
designed by the government,
necessarily the way it will work in the
Whitehead adds.

“Initially, the government saw a lot of objectives
other Chan ratsing the maxtmum amount of money,
she said in an interview. in her cramped, book-lined
office.

subject owners

nor is it
future,

was

STAKE IN FUTURE

The primary .goal of _ privatization,
Whitehead, was to spread ‘Share ownership to
promote Thatcher's dream of weaning Britons away
from dependence on the welfare state and to turn
them into a nation of small-scale capitalists with a
stake in their own economic future.

In that, it's been wildly successful. Nine million
Britons now hold shares, compared with only three
million when Thatcher took power almost 10 years
ago.

“In pure political terms . .
than the margin (of
constituency,” Whitehead notes.

The Labor Opposition accuses the Thatcher
government of deliberately underpricing the first
privatizations.

It says the resulting “fire sales” reduced public
control over essential, industries.

And it says-the proceeds — now three billion ta
five billion-pounds a year (more than $6 billion-$10
billion Cdn) .~are béing used to artifically reduce the
annual national deficit_and to finance tax cuts for the
rich.

says

(that's) certainly

more victory) in any

Whitehead agrees to a certain extent.
PRICES UP
They had to make sure than the small man who
works in a factory made a bit (of profit),” Whitehead
says.

And that it did. Shares prices fluctuate, of
course, but British Aerospace, privatized in May
1981, is trading at about three times its flotation
tevel of 1.50 pounds (slightly more than $3 Cdn)

Cable and Wireless is now seven times higher
than its October 1981 price of 56 pence (slightly more
than $1.10 Cdn) while British Telecom has almost
doubled its September 1984~price of 1.30 pounds
(about $2.75 Cdn).

Even British Gas, privatized in December 1986,
has risen almost 50 per cent from 1.35 pounds (about
$2.90 Cdn) despite the worldwide stock market crash
in October 1987.

The question now, says- economist Wolfgang
Munchau, is not why all these people bought shares
bit what they intend to do with them

HOLD OR SELL?

“Privatization stocks, like all shares, make most
sense when held long-term,” Munchau
recently in the London Times.

“What we don’t know is whether there are nine
million long-term investors.or nine million short
term speculators.”

That's one of the major questions in

wrote

It’s also a highly visible symbol of the economic
changes that have taken place since Prime Minister
Margaret Thatcher came to power almost 10 years ago.

Economists agree that Thatcher has succeeded in
reversing what had appeared then to be a terminal
slump. :

ROARING BACK

“In a turnaround largely unimaginable a decade
ago, the: 20th century's archetype of unstoppable
industrial decliné has suddenly stopped declining and
come roaring bac Fortune magazine said recently.

That change in direction is epitomized by Canary
Wharf, which one prominent British politician has called
‘the biggest single restructuring of the capital since the
ireat Fire of 1666" destroyed almost 90 per cent of
sondon

It will be a city within a city, with soaring office
owers, theatres, hotels and restaurants as well as huge
reas of parkland. O and Y plans to erect 22 buildings on
he site over the next seven years.

Canary Wharf represents an enormous gamble by
he normally cautious-Reichmann brothers of Toronto
vho control O and Y. They are betting that current
roubles in Britain's econonty are mere blips and that
ts long-running economic boom will continue for at least
inother decade.

“A@ we sit here today, we
economy,” admits Chuck Young, executive director of
Olympia and York Canary Wharf Ltd.

(But) we feel that the risk we are taking is quite
reasonable. The longer you look down (the road), the
more logical and sensible it appears to be.

‘Mrs. Thatcher has done some very positive
things for the U.K. economy.”

RES IMPRESS

Most economists would agree with

comments;-citing these facts among others:~

Real economic growth was running at an annual
rate of 5.2 per cent in the first’six months of last year,
with estimates for all of 1988 ranging as high as seven
per cent: That compares with about four per cent. in
1987

see a slowing in the

Young's

Capital investment surged 10.8 per cent on an
annual basis in the first quarter of 1988, compared with
2.7 per cent in the same quarter of ‘87, A November
government survey found British businesses plan to
increase capital investment by a further 10 per cent in
1989.

The official unemployment rate has dropped to
7.5 per cent, while the number of jobless Britons has
fallen to 2.1 million from’a high of more than 3.4 million
in January 1986

Inflation while rising again in recent months to
an annual rate of 6.4 per cent, is still far below the
almost 20-per-cent level prevailing before Thatcher took
office in June 1979.

The national budget is now in a surplus position
for the first time in decades, the national debt is being
repaid and tax rates have. been cut.

MARGARET THATCHER

some very positive things

The statistics overlook the fact that millions of
British citizens are not sharing in the boom, in fact are
much worse off than before Thatcher came to power.

In the poverty-stricken North and West, unemploy.
ment_runsas high as 90 percent in-some-centres, and
despair is widespread

Nevertheless, economic experts agree with the
notion expressed by Geoffrey Dicks of the Centre for
Business Forecasting at London Business School: “We
are now in a virtuous circle, rather than a vicious
circle.”

Legislation limiting powerful trade unions has
reduced once-crippting strikes to their towest tevets-in
50 years. At least partly as a result, labor productivity
per worker has increased by 50 per cent since 1980:

A combination of the 1980-81 recession and a
refusalby Thatcherto sanction continued government
bailouts led to the closure of many inefficient
businesses, mostly in old-fashioned manufacturing
industries.

At the same time, deregulation and big tax cuts,
especially.at the upper end of the income scale, led to
massive investment in the service sector.

TRADE DEFICIT

However, not everything is coming up roses for the
Mis government these days.

The trade deficit is running at an annual rate likely
to’be three or four times higher than the four billion
pounds (more than $8 billion Cdn) forecast last spring in
the budget by Nigel Lawson, whose lordly title of
chancellor of the exchequer makes him the equivalent of
finance minister.

Most economists agree that consumer demand for
imports is soaring as a result of the tax cuts Lawson
offered during the past two or three years

(FaLcoNn

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Britain are debating as they contemplate Thatcher's
mind-boggling plans for the 27-billion-pound (about
$55-billion Cdn) privatization of the country’s water
distribution system, and the sell-off of its electricity
generating and distribution works for up to 37 billion
pounds (more than $75 billion Cdn).

Bills authorizing both sales were introduced in

Parliament last fall.

Annual January
Clearance Sale

FASHIONS

Uptown Rossland Trail

Waneta Plaza

i.

FULL GOSPEL
FELLOWSHIP (A.C.0.P.)

Below Castleaird Plaza
Phone 365-6317
PASTOR: BARRY WERNER * 365-2374

SUNDAY SERVICES
«Sunday School 9:30 a.m
Morning Worship — 10:30 a.m
Evening Fellowship 6:30 p.m

Wednesday: Home Meetings 7 p.r
Friday Youth Ministries 7 p.m

HOME OF CASTLEGAR
CHRISTIAN ACADEMY 365: 7818

“PENTECOSTAL NEW
LUPE ASSEMBLY

602-7th Street * 365-5212
Near High School

SUNDAY SERVICE
Christian Education 9:45 a.m.
Morning Worship 11:00 a.m

UNITED CHURCH
OF CANADA

2224-6th Avenue
Blocks South of Community Complex
10.0.m, Worship & Sunday Schoo!
Mid-Week Activities for all ages
Phone for information
Rev. Ted Bristow
(365-8337 o1 365-8386

CHURCH DIRECTORY =

EVANGELICAL FREE CHURCH

CALVARY BAPTIST

914 Columbia Avenue
9.45 a.m

Sunday Schoo! tor All Ages
11-00

Fomily Worship Ser
Discipleship Minis
Women Ministrs
Youth Ministries
PASTOR: ED NEUFELD
Phone: 365-6675

‘A Church that Loves
the Castlegar Area!

LivingWaters
Faith Fellowship

1406 Columbia Ave.
Phone 365-58
Sunday Morning Worship 10.30 a.m
Nursery & Children s Church provided
Mid-Week Service & Study
Wednesdays 6:30-8 00 p.m

__ ANGLICAN CHURCH _

1201 Columble Avenve
Sunday Service 8a.m. & 100.m
Sunday School 10 9.7
REV. CHARLES BALFOUR 365-2271
PARISH PURPOSE
To Know Christ and Make Him Known

SEVENTH-DAY
ADVENTIST CHURCH

1471 Columbia Ave., Trail 364-0117
Regular Saturday Services
Pastor Clift Drieberg
365-2649

809 Merry Creek Road Past Fireside
Sunddy School 10:00 a.m.
Morning Worship 11:00 a.m.
Evening Service 6:30 p.m.
TUESDAY 6:00 p.m. AWANA
WEDNESDAY NIGHT
Study & Prayer 8 p.m
CHURCH 365-3430 OR 365-7368
ROBERT C. LIVELY. PASTOR

ST. PETER LUTHERAN
LUTHERAN
-{- CHURCH
-CANADA

713-4th Street

Listen to the Lutheran Hour Sunday
9am. on Radio CKQR

__ GRACE PRESBYTERIAN

2605 Columbia Ave.
REV J FERRIER ® 365-3182

Church Schoo! 11,00 a.m
Morning Worship
liam

CHURCH OFGOD
2404 Columbia Avenue

Church School 9:45 a.m
Morning Worship 11 a.m

Pastor Ira Johnson * 365-6762

‘