CastléarN February 6, 1985 WHAT TO DO IF YOU WIN THE LOTTERY By ROBERT McLEOD The Canadian Press So you've inherited a fortune from a favorite aunt. Or you've just won a few million in a lottery. Suddenly all your niggling financial headaches are cured. Or are they? What do you actually do with all that money? Don't make any Fash decisions, say experts. Spend a lot of time thinking about your priorities. “You don't rush off in di di i However, earnings from investments in Canadian : shares are taxed at a substantially lower rate. Douglas gives the example of someone whose taxable income is $25,000. Out of every $100 of Canadian dividend income, he is allowed to keep $94.50 thanks to the dividend credit. On his capital gains he keeps $82.50. But he only retains $63 on interest earnings. “When you see those numbers, it's very easy to understand what you should be attaching priorities to.” Douglas also recommends acquiring real estate “because you can maintain and even have your asset base grow.” Once again, capital gains are treated more generously by the taxman than straight income. CONSULT EXPERTS He suggests investors consider small apartment buildings rather than commercial and industrial sites. But advice from a whole bunch of people,” says Keith Douglas, president of the Investment Funds Institute of Canada. “Insulate yourself from all the amateur advisers and put the funds into something which is safe and accessible, such as a daily interest savings account or a short-term guaranteed investment certificate.” INTEREST GROWS It is important to do this as soon as you get the inheritance or winnings because the interest on large sums of money can mount quickly. Say, for example, you won $11 million in a lottery and invested the money in a six-per-cent daily interest chequing account. You would receive $678,456 a year or over $13,000 a day. From there, Douglas advises recipients of a windfall either to develop financial knowledge themselves or consult with a financial planner, lawyer and or accountant. The main aim is to avoid getting gobbered by the taxman. “If you leave $11 million or any large sum of money just in an interest-paying account, you are going to get killed on income tax,” says Douglas. After the first thousand dollars of interest income, which is tax free, you will pay 50 per cent of what you receive to the taxman because your earnings will be large enough to push you into the highest tax bracket. the i should consult real estate professionals before making any investment decision. As for the general mix of investments, that will vary ding to the pi of the indivi but Douglas recommends keeping at least 15 per cent of a windfall in readily accessible items such as Canada Savings Bonds, savings accounts and guaranteed investment certificates. This would be for general expenses and also provide funds for any investment opportunity that may come up. “A goodly portion, 35 to 40 per cent and maybe even more, should be invested in shares,” says Douglas. “You can invest in non-C: n equities but you don't get the dividend tax credi He says at least another 25 per cent should be invested in real estate. SET UP TRUSTS Other ways to reduce income tax include income splitting and setting up trusts for children. By lending money to your spouse or children, the interest they earn on that money is taxed at their rate not yours. Alf Schmocker, president of Financial Planners Toronto Inc., cites the example of setting up a trust for a son at university with $120,000. The $12,000 annual income that goes to the son would be earned tax free because it is below the tax threshold. “Doing this disposes of large sums of money that will escape the taxman,” Schmocker says. PEAKED IN 1983 Video games dead WINNIPEG (CP) — After arriving on the entertai ment scene eight years ago in a hurricane of hype, video games have subsided into a gentle breeze of obsoles- cence. Quitely, unobtrusively, the video game craze has died, succumbing to declining con. sumer interest, cut-throat competition and the rise of the personal computer. “It's dead,” says Mark Johnson, a buyer for Ad vance Electronics in Winni- peg, a company typical of many that no longer carry the Atari 2600, Coleco Vis- sion or Intellivision games that peaked in popularity only two years ago at Chris. tmas 1983. Video games have joined the hula hoop, hot pants and Rubik's Cube in the annals of fads that have faded and fallen. What was once a market that supported half a dozen companies now boasts of two, Coleco and Atari. Gone in the video game field are Mattel, Apollo and Texas Instruments, to name a few. But while the craze has subsided, the business itself is far from dead, says Mike Richards, Coleco Canada's vice-president of marketing. STILL TAKING ORDERS He said Coleco sold 200,000 units of video games in 1984 and the company is still taking orders for retailers’ Subscrib to the Castlega Circulotion Dept Costiege Yes, I'm interested in get ting the Castlegar News os follows Corrier Mor! Please details contact me with Nome (Please Print Address Phone Number Or better still phone 365-7266 spring and summer promo- tions. But that’s a far ery from Christmas 1983, when Coleco alone sold 500,000 units. “It has declined, there's no question about that,” Rich- ards said in a telephone interview. “It's a fad, really, and fads change,” Richards said. How- ever, he added that there will always be a market for video games as long as improve- ments are made to them. The first video game, elec tronic ping-pong, was intro- duced in 1972 by Nolan Bushnell, who became presi dent of Atari Inc. It was a crude game by today's stan. dards. However, Pong, as it was called, and its long line of successors, including Pac- Castlegar Man, caught fire and made young Bushnell a very rich man. Bushnell, who had started out in 1972 with $500, sold Atari to Warner Communi cations for $28 million four But Warner also ing beginning in the craze ex- 1977 when ploded to the early months of 1983, when it began to fizzle out. LOST MILIONS In the 15 months between then and July 1984, Atari lost $500 million. It sold the company to Commodore International Ltd. for $240 million. The Atari chapter cap- sulizes the boom-and-bust nature of the video game story, which game retailers say is typical of their trade. “We would do a couple of thousand units‘a year plus all the accessories” in 1983, says David Davis, owner of Game: Unlimited in Winnipeg. However, he says video games are only popular now at Christmas time. Spokesmen say boredom with the machines also had a lot to do with the decline in the popularity of video games. Many were pur chased, used for a few months and now collect dust. Once the novelty wore off, people turned to other forms of entertainment and other technological advances. En. ter the personal computer, which combined the game. playing capacity of video games with educational uses and other applications. re’s only one way to do it! Reach 700,000 Homes for only $109 Blanket Classifieds of the B.C. and Yukon Community Newspaper Association allow you to place your classified ad in close to 80 newspapers in nearly every suburban and rural market in B.C. and the Yukon, and we can also arrange the same thing for every other province in Canada. For information call our classified advertising department. a) iB a N Classified Ads 365-2212 Or write: Box 3007, Castlegar, 8.C. VIN 3H4 Certified General Accountant 270 Columbia Ave. Castlegar Ph. 365-2151 ~ MOROSO, _ MARKIN & BLAIN Certified General Accountants 241 Columbia Ave. Castlegar Ph. 365-7287 Soligo, Koide & John Chartered Accountants 615 Columbia Ave. (Upstairs) Castlegar Phone 365-7745 Henry John, B.Sc., C.A Resident Partner Russell Auctions 399-4793 Thrums Buy or Sell by Auction }= RUMFORD PLACE i * Super Sweep Chimney Services Ltd. * Complete Masonry Work © Chimney Lining * Certitied Fire Sotety Inspections 735 Columbia Ave. 365-6141 1985 Universal Press Syndicate 1-30 they said the e “I'll let you decide, but lectri ity will be off for at least an hour.’’ *200 Quartz - Digital Tuning Medala Shortwave 365-5687 Peppercorn Dining Under the Palms at Uncommmonly Affordable Prices TERRA NOVA MOTOR INN 1001 Rossland Ave., Trail Reservations 364-2222 4 ASK CHES OR JOHN FOR BEAUMARK APPLIANCES OF THE MACHINE AND ALL SERVICE FOR THE LIFE ‘ the ice a" B.E.W.C. TO PROVIDE ALL PARTS ay CLOTHING, DRAPERIES BEDSPREADS Everything on consignment. NEARLY NEW SHOP 776 Rossland Ave., Trail Phone 368-3517 LOW, LOW PRICES Country Harvest Delicatessen "1436 Columbie Ph. 365-5414 ee DRAFTING & DESIGN SERVICES * Residential . eo FOR PROFESSIONAL CLEANING © Carpets * Upholstery * Car Interiors * Window Cleaning FOR ESTIMATES CALL RICHARD VANTASSEL Troll 364-1344 —_ F. PIRSH CONTRACTING 2045 Columbia Ave., Trail * Renovations * Custom-built kitchen cabinets * Residential & Commercial * Big jobs or small jobs Ph. 368-5911 * Planning Office interiors * Construction Supervisions 365-2546 a= CASTLEGAR FUNERAL CHAPEL Dedicated to kindly, thoughttul service. Granite, Marble and Bronze Plaques Phone 365-3222 we WILLIAMS MOVING & STORAGE 2337-6th Ave., Castlegar Invite you to coll them for o free moving estimate. Let our representative tell you about the many services which have made Williams the most respec ted name in the moving business Ph. 365-3328 Collect ML LeRoy THE COLANDER SPAGHETTI HOUSE Specialing in Italian cuisine For Reservations Phone 364-1816 1475 Cedar Avenue Trail, B.C. Business Directory advertising is for you! RATES ARE ATTRACTIVE TOO! Phone 365-5210 FOR FULL DETAILS COLEMAN COUNTRY BOY SERVICE Sump & Septic Tank umping Phone 365-5013 8.S.0.D. OPTOMETRIST 3400 - 4th Avenue Castlegar 1012 - 4th St Cc Phone 365-3361 PUBLISHER . Costlegar News is Tues. - Fri. 9a.m. -5p.m. Saturday 9 a.m. - 12 noon B.Sc. 0.D. OPTOMETRIST No.2 - 615 Columbia, Castlegar 365-2220 o1 366 Bok . Nelson 352-5152 & GIBSON The Plumbing & Heating Centre American Stondord Volley Fibrebath Jecuzzi * Crane Duro Pumps & Sotteners PVC Pipe Fittings Septic Tanks 365-7705 Cor 2317 - 6th Ave. stlegor * Bulove * Sesko * Pulser ALL TYPES OF COMMERCIAL PRINTING * Letterheads * Envelopes OFFSET & LETTERPRESS WES PRESS FACILITIES CASTLEGAR NEWS 197 Columbia Ave. 345-7266 copytron Copier Systems CALL DAVE PLANT Residence 365-2818 or 112-800-642-1234 with A or M, or X, Y or Z You'll find Business Directory advertising pays. 365-5210 Mail subscriptions rate to the CASTLEGAR NEWS 1s $30 per yeor ($34 in communities where the post office has ter carrier service). The pri ‘on newsstands is 50¢ for each edition. The price delivered by Mewspaper carrier tor both editions is only 66¢ 0 week (collected monthly). Second class mail registration number 0019 ERRORS The Castlegar News will not be responsible tor any errors in advertisements atter one insertion. I is the respon sibility of the advertiser to read his ad when it published 1 is agreed by the adver tiser requesting space that the advertisement is accepted on the condition that in the event of failure to publish any od s first vertisement of any descrip tion, or in the event that errors occur in the publishing of an advertisement, that por tion of the advertising space occupied by the erroneous vertisement will be poid tor ot the applicable rete re Not be sold. Advertising is merely an offer to sell. The offer may be withdrawn at ony time NOTICE OF COPYRIGHT copyright in THAT PART AND THAT PART ONLY of any Odvertisement Prepored trom repro proots engravings. etc. provided b, the advertiser shall remain. ond belong to the advertsecr CASTLEGAR NEWs Established Aug 7 1947 Twice Weekly May 4 1980 Incorporating th Mid. Week ana trom Sept. 12. 1978 to Aug. 27. 1980 LV. (Les) CAMP to Feb. 15.1973 BURT CAMPBELL Publisher RON NORMAN 10 HARVEY. Pion: an ghd DA = KOSITSIN Hice moger, CAROL macaw Advertising Monoge \OAW — Legislative Library, Parliament Bldgs., 501 Victoria, B. Cc. V8V 1x4 return The provincial legislature reconvenes tomorrow after a nine- month expected to introduce a host of new legislature . --AT Christmas in ~ Ecuador Teacher - missionary John Munday describes his Christmas and New Years’ below the equator...B83 °* The six winning numbers in Saturday's Lotto 6/49 draw were two, five, 21, 24, 29 and 46. The bonus number wos 25. The $500,000 winning number in Friday's Provincial lottery draw is 1498267. There are also subsidiary prizes. out? Castlegar teachers rule some tomorrow, teachers School district in work to they'll still coach school sports teams... Bl but say Sunda WEATHERCAST Sy. TO PROTEST CUTS Teachers begin " Castlegar Cloudy with snow flurries today. Highs near -3 and lows -7 to -9. Cloudy again Mondoy with periods of snow and highs neor 2 50 Cents cs a VOL. 38, No. 12 CASTLEGAR, BRITISH COLUMBIA, SUNDAY, FEBRUARY 10, 1985 2 Sections (A & B) Woe Te, TM '\G CONS >t NO MORE CUTBACKS . Castlegar teachers and other local residents staged a one-hour demon stration at the provincial courthouse Thursday to RALLY PROTESTS CUTBACKS By CasNews Staff About 70 protesters — most of them Castlegar teachers — waved placards at passing motorists during an hour-long demonstration Thursday against provincial government education cuts held at the Castlegar provincial courthouse. However, teachers weren't the only demonstrators who ignored sub-zero temperatures and snow to attack the Ministry of Es ion's three-y i New Democratic MLA Chris D'Arcy, Castlegar Ald. Len Embree, school trustees, Canadian be ee Employees representative Jim Waldie and mem the public joined the protesters’ march around the court- working to rule By ADRIAN CHAMBERLAIN Staff Writer Castlegar teachers will start work to rule action tomorrow to protest the school board's layoff of all district 1 tell Education Minister Jack Heinrich that he’s gone far enough ail Wiss 6 Ahenjchanberioin house parking lot, and later listened to speeches. D'Arey spoke briefly on education euts, both at in ee ee te. s ” or He said the pr cial has du funding by 26 per cent bet and 1986. “Se fully one-quarter of the ‘you had in your schoo! resources : and in this district in 1962, will not be there in 1986,” he said. D’Arey said B.C. now puts less funding per capita into education than any other province. ~ “B.C. has gone, in less than three yeard, from a have continued on page AI ssc h-hour supervisors on Feb. 1. The move is also to protest education and the fact that teachers on long-term sick leave have cutbacks, two activity as “any activity involving stu- dents conducted outside of regular hours of instruction, in which the teacher participates because he or she is a teacher or administrator.” Teachers’ spokesman Paul Medved- eff said Friday that the CDTA will de- cide exactly how their “series of ac- tions” will “escalate” at an association been only partially rep! g to a Castlegar District Teachers’ Asso- ciation release made public Friday. CDTA vice-president Lisa Pedrini says in the release: “The teachers will start an escalating series of actions on Monday, Feb. 11 with a work to rule: Teachers will arrive 15 minutes before class and depart five minutes after class in accordance with School Act regulations. “At lunch hour teachers will leave the school, except for those teachers who are specifically ordered to provide lunch-hour supervision. No teachers will take part in any extra-curricular activity during the work to rule.” The teachers define extra-curricular meeting Wed : “At that time we will decide whether to escalate or de-escalate, or what- ever,” he added. The teachers’ association claim the removal of noon-hour supervisors breaks a signed agreement between the board and the teachers. Board chairman Doreen Smecher said the agreement is part of booklet entitled Policy Handbook for Teaching Staff, which was agreed upon and signed by both trustees and teachers “three or four years ago.” The booklet covers various types of teacher leaves and includes a provision for noon-hour supervisors. Smecher said Friday that the school ~PLANT CHAIRMAN SAYS board needed to save $38,000 a year by laying off the 18 lunch-hour supervi- sors. The board isn't legally bound to abide by the agreement, she added. “The teachers are saying it’s a legal document. The board is saying it's a handbook,” said Smecher. “The board is saying it's got a moral obligation, but not a legal obligation.” She said in i moratorium on the lunch-hour supervi- sors, but the teachers refused. “If the restraint program is lifted ina year-and-a-half, the board will once again consider noon-hour supervisors,” Smecher said. Smecher confirmed that the board has only partially replaced two tea- chers now on sick leave — one at a 50 per cent level, the other at 75 per cent. The remaining time is béing covered by other teachers, she said. Partly because the positions are continued on page A2 Mill needs upgrading By RON NORMAN Editor Westar Timber's Celgar sawmill needs extensive upgrading and beefed up maintenance or it may not last more than another two years, says the International Woodworkers of Ameri ca’s plant chairman. “There's no doubt .. . t that mill will not be here in two years” if Westar Timber continues to carry on the way it has, Tony Ferreira said in an interview this week with the Castlegar News However, Westar Timber president Sandy Fulton said comments about a possible shutdown “aren't very res ponsible.” “We think there's a good business opportunity there,” Fulton said in a telephone inteview from his Vancouver office. Fulton conceded the mill is getting older. “It's getting older, but that’s no surprise to anyone,” he said. But he also pointed out that the mill is “running at about 15 per cent more production per day” than ever before. Fulton called the increase “quite dramatic” and especially over the last three or four months, production at the mill has been “pretty remarkable.” Reasons for the increased production are many, Fulton said. He said the mill is cutting only a few products “and learning how to do them quite well” as part of a“back to basics” program. Fulton also said the company made managerial changes because it was felt the mill was not reaching its “full potential.” As well, the company has apparently abandoned plans to increase overseas exports from its Castlegar mill. Most of the lumber from the Celgar operation is sent south to the U.S. Fulton dismissed comments about the mill's closure as “inconsistent.” He noted that lumber markets are “very depressed,” and while some mills have been forced to close, Celgar sawmill is still operating and actually increasing its share of the market. Asked if the Celgar mill could be compared to a MacMillan Bloede! mill closed on the Lower Mainland because it was too expensive to upgrade, Fulton replied that the MacMillan Bloede! mill was a different case. He said the mill's age wasn’t the only problem. Taxes and labor costs were both too high for the mill to keep operating, he said. continued on page A3 Steelworkers face ‘retaliation’ for raid VANCOUVER (CP) — The Interna tional Union of Operating Engineers is threatening a raiding war against the United Steelworkers of America after losing its 1,200-member bargaining unit at the Quintette coal mine to the rival mining union. “I don't doubt that there will be some sour grapes,” said Operating Engin eers’ assistant business manager Gary Kroeker. “We'll be definitely having a long, hard look at the properties the Steel workers have in B.C. and the possibil ity is there that we will take some action in the future. “Retaliation is the word.” Kroeker charged that the Steel workers’ raid violated no-raiding pacts the international steel union had signed as members of the AFL-CIO and Operation Solidarity. The workers at the northeastern British Columbia mine voted 57 per cent to leave the Operating Engineers and join the Steelworkers. The vote announced Thursday was 539 to 412 Kroeker also said that Operating Engineers could have held the cer tifieation if Quintette’s part-owner and manager, Denison Mines Ltd., hadn't recruited heavily in the past year in Eastern Canada where most unionized miners are members of the Steel workers. Ontario and Quebec are involved in mining and most of those properties are organized by the Stee! workers. Here in B.C., one and miners coming from East heavily we're number Timber supply flowing once more By ADRIAN CHAMBERLAIN Staff Writer Sawmill operators in Nakusp who complained that Wes. tar Timber Ltd. was slowing their timber supply to a trickle now say they're getting a steady supply of wood again. But according to Nakusp sawmill owner Phillip Her ridge, the problem is the supply isn't guaranteed. “The Catch-22 is we have no idea how long (it will last). It could stop while I talk with you. “Tm very pleased that I'm getting wood right now. Of course, I have some concerns with the future and how to work out a viable arrangement with Westar if possible,” said Herridge Thursday Westar currently controls a tree farm licence which ineludes the drainage area surrounding the Arrow Lakes — the length of which runs about 320 kilometres from Castlegar to Revelstoke — and parts of the drainage aréa around a 160-kilometre section of the Columbia River up to the Mica Dam. Last December sawmill operators in Nakusp — where unemployment is more than 50 per cent — claimed that Westar’s licence gives the company a stranglehold over the timber supply that was squeezing them out of business. A lobby group representing Nakusp businessmen and forest workers was formed last month and it sent a brief on the situation to politicians including Premier Bill Bennett and Forests Minister Tom Waterland. Herridge said “almost immediately” after the sawmill operators made their concerns public in December, the timber supply to his 10-man mill was reinstated. “They had cut me off,” he said. “When I raised hell, there was wood in my yard in a couple of days.” Herridge says he's now buying approximately 50 cubic metres of cedar sawlogs a day. Chernoff Bros. Sawmill Ltd. and Columbia River Shake jakusp — which, unlike Herridge, didn’t and Shingle Ltd. in shut down last year —are also receiving a wood, said Herridge. All three mills provide jobs for 300 people, including both mill workers and loggers. our needs.” fair supply” of them, Fulton said. quality” wood unsuitable for saw logs, and Canada not understanding that there is another organization here decided to stay with the Steelwork ers.” is in excess But a supply of saw logs to Herridge and Chernoff ca be guaranteed over * the long term™ because Westar needs Although Herridge insists the amount of logs the However, a five-year contract Chernoff Bros. had with Westar expires this year and won't be renewed, Herridge said. “(Westar) is still supplying them with wood. I couldn't tell you if it is a short-term thing, or no term, or what,” he added. Westar president Sandy Fulton said Thursday that Columbia River Shake and Shingle receives over half its supply of cedar logs from Westar, and “we'll certainly make it available to him as long as possible.” Fulton said Westar can afford to supply the shake and shingle mill with cedar because it's “intermediate sawmills need would be “a half a per cent” of Westar's total volume, Fulton says it's a matter of “principle. “(It's as though) I've got money and you came along and say, ‘Give me $100, come on, give it to me. I can use it It’s the same principle,” Fulton said He says Westar has invested a considerable amount on roads throughout the tree farm licence to provide access for “future generations of the company,” and points out that the company must pay 45 cents a cubic metre for its annual cut. As of September 1984, Westar had cut continued on pége A3