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A honky-tonk singer creates havoc when he invades @ parueton. “Happy Birthday, Gemini (1980) (eresenrd SEXUALITY 6:30 G3 ONE DAY ATA TIME @ Te MuPrets @ ErrentAnmenT 7-00 @@ PEOPLE's counT Mas From $5983 £861 ‘St ‘2eq ‘Aopseupem YyBnosy) g°9eq ‘ADpsuny, poe arent Thursday, Dec. 8 through Wednesday, Dec. 15, 1983 TV WEEK aurrogat orizzty ien't ‘BMarly'e esone Silver Medal in Inveatigative Reporting category at the interna. tional Film and TV Festival . Of New York. wi privs a 5 mpg 4x4 Today! Pa a ig CONDE STRANGE 1127 4th Street Wednesday NOVA : lear Strategy For Beginners” The origin Animated. Comedian Vernon 220 11:26 @ BARNEY MILLER 11:90 8 ABCNEWS MIGHTUNE MOVIE ‘k “That Man Goh" (1973, Adventure) Fred wil jon, Ti Gra .000,000 . doltara Hong Kong to Mexico City 2:00 @9 Cas News, NGHTWATCH ‘3:06 @® HAWANFIVE-o From our Store Flooring LARGE SELECTION MITCHELL SUPPLY 490; 13th Ave. 365-7252 MEMBER OF DENTAL LAB (Staffed by Dr. David Cowen's employees) © New Dentures and Relines by appointment © Repairs while you wait ° 1 tai © Canadian Currency at par oe Dr. Orval Burgner, 0.M.0. J. MeeKay — Technician ‘. for @ mental ward escap- East 7204 Sprague SPOKANE, Washington — (509) 928-9337 BUSINESS _ ! SN a : December 7, 1983 Castlegar News 87 fae “NEW LOOK AT FOREIGN TRADE - Is:barter better than no trade? By BRENDA DALGLISH i The Canadian Press «'\A few years ago Canadian bankers would have turned up their noses at the first whiff of a countertrade deal as if it was a week-old fish. 5 But the worldwide recegsion of the last few: years and the current struggling recovery has-changed all that. ° Countertrade — an exchange of goods or services between two countries that relies more on: barter than cash — is likely to be a factor in international trading for the next few. years at least and maybe a good’ while longer, if the reaction of Canada's traditionally conservative banks is any indication, Rather than lose out on financial deals in which no money is involved, the banks are taking steps to play a role in countertrading arrangements, especially: for small to medium-sized companies. . i The Royal Bank opened a countertrade and commodi- ties finance unit earlier this year — the only one of its kind in Canada — and the other major banks are also taking on some countertrade deals, Aldo Nicolai, vice president of international trade and finance for the Royal, admitted the bank was somewhat reluctant to establish the unit. “But we must be pragmatic,” he sald. “We want to export, we have to export. We have to find ways of living with the situation whether we like it or not. ~ “We don't like it, I can say that., The Canadian government doesn’t like it, the Canadian financial industry doesn’t like it, the Canadjan exporter doesn’t like it. But the point is if you have to do it, you have to do it.” Countertrade, said Nicolai, “where you have to buy products that you don't really want,” distorts trade ahd is herefc ndes in an ideal system. Although Eastern European countries have counter- traded among themselves for decades, Canada has been fortunate until now because it’s main,export products are natural and P which have been high-priority items and therefore less likely to be subject to countertrade restrictions. But now the banks are being forced to enter the field for three main reasons. First,.many clients are asking for in de deals, “We are inundated, I can say, with requests: from Canadian companies,” said Nicolai. “It’s growing, growing, growing all the time. And except for U.S. trading companies, I think there are very few Canadian trading companies who are very active at this market.” Then there is the undeniable fact that countertrade is a growing ph — B indicate countertrade accounts for about 20 per cent of all world trade deals, up from three per cent in 1976, Einally, there is the pressure the five major banks feel from foreign bank branches operating in the country which are often quite willing to get involved in countertrade deals and have an advantage because their parent banks have had experience in countertrade, said’ Nicolai. “We would have suffered as a financial industry and we would have suffered as the Canadian export industry if we hadn't got into this.” The Royal's countertrade unit will provide a financial framework to finance export and import BOTTOM ROUND OR RUMP ROAST sgn 919° through letters of credit and it will offer the expert assistance necessary to guide businesses through counter- trade deals. Countertrade arrangements can take many forms, from a straight exchange of goods to some combination of goods and eash or other considerations. [Lower interest|Higher lum rates cut costs. VANCOUVER (CP) — The cost of housing subsidized by the federal government will drop dramatically in about two years, says Shirley Schmid, executive director of. the Columbia Housing Ad-— visory Association. eriicized _ federally-subsid- ized housing programs for encouraging inefficiency and doing little to help . the 520,000 Canadians who need low-cost housing.- ‘ The report said 67 per cent ‘ of the tenants who benefit VANCOUVER (CP) — A surge in North American lumber prices last week has forest industry: analysts op- timistic ‘that a six-month price plunge has bottomed out. They're now looking for- ward to a year of increasing prices. : ‘Prices for western spruce, pine and fir two-by-fours, n hi wether of The from federally housing p do not and p housing projects, whose mortgages are subsidized by the federal government to & level ‘of two per cent: A number of. those mort- gages were locked into five- year terms in 1981, a year of extremely high interest rates, Schmid said. When those mortgages are renewed at lower rates, “costs to the government are going to plummet.” Social housing costs are dropping already because land prices and construction costs have fallen from their levels of the pi it need Ottawa's help to pay the ‘rent. Schmid said the study rec- ognized that there is “no valid comparison for operat- ing costs” between privately- built and government-subsi- dized housing. One reason is that co-op housing must pro- vide funds for project main- . tenance, something not re- quired of private housing de- velopments. Schmid defended the pres- ence of middle-income’ ten- ants in co-op housing, saying they provide internal sub- sidies that help keep rents - down for low-i tenants. real estate boom, she said. But she added: “There is no cheap way to ensure de- cent housing for low. and moderate-income people.” Schmid was , commenting on a Canada Mortgage and Housing- Corp. study that® Of co-op tenants, 46 per tl the North American lumber ~ industry, hit $172 (U.S.) a thousand board feet last Fri- day, up from $164 the pre- vious week. than they ‘did a’ few’ weeks ago. RR Prices for western spruce, pine and fir lumber dropped dramatically this sumimler af- ter an initial spurt tha {took them up to an average of $285 a thousand board feet in June. Prices started the year at $187, and took off in the spring when a strong demand surfaced at the same time that inventories were low. But by July, the demand had eased, inventories had been restocked, and prices started a steep decline that hit a low. point in September when western spruce, pine and fir two-by-fc were av- And P by the B.C. Council of Forest - Industries show lumber pro- . duction in B.C. this year is approaching record levels. Industry representatives caution against over-optim- ism, but agree that both the market and prices, in North America at least, look better eraging $156 a thousand board feet. 2 Jaak Puusepp, a forestry ~ analyst with Pemberton Hou- “Within 80 or 60 days, I think you might see prices go up by $80 a thousand board feet,” he said. Ross Hay-Roe, an analyst with Paper Tree Economics, agrees. “I've been saying all along that prices would hit $200 by the end of the year,” he said. “Thad the price right, but the timing is now more likely to be January.” Both analysts see 1984 as being a better year for the lumber trade than 1983, and they see this latest price spurt as the start. “These price increases have been overdue for’ a couple of months now,” Hay- Roe said. Ken McKenzie, lumber for MacMillan Bloe- ston W said prices are firming up because in- ventories are low, and re- tailers don't want to -be caught again next spring by 4 sharp price increase. del Ltd., warned against bas- ing high hopes on a one- week turnaround in North American prices, and he Pointed out that other off- r prices lauded shore sales (to Japan, Aus- tralia, Europe, the United Kingdom) are still depressed in price and volume. “I'm pleased to see the in- crease, but the reason prices went as low as they did is because of over-capacity in the industry, and I don’t think that has changed,” he said. The council says that by the end of August, British Columbia had produced 8.68 billion board feet of lumber, a 88-per-cent increase over the same period a year ago. Of that production, 6.29 billion board feet was* ex- ported, with 4:89 billion board feet bound for U.S. destinations, If that pace continues to the end of the year, 11.6 billion board feet of lumber will be produced. B.C.’s best _ previous year was 1978 when | 12.5 billion board feet were produced. PORK SIDE * SPARERIBS gersg51/ 9] $9 Frozen .. kg. TASTE TELLS MUSHROOMS Save 31¢ min. Cc Choice Sliced, bir late (10 fi. oz) Tia....... Your Cheice VEGETABLE MARGARINE 1.36 Gh) Package 6... eys 1 Save 60. Empress. cent could not afford mort- | gage payments even if they could get the same two-per- “cent mortgages the co-ops enjoy, Schmid. said. “They have to be subsidized inter- nally.” i STRONG. SALES REPORTED IN NOVEMBER WASHINGTON. (CP) — Major U.S. retailers report strong sales in November — generally a good indicator of a brisk holiday season to follow. Sears, Roebuck and Co., biggest of them all, said,Nov- ember sales were up 11.4 per cent from a year ago to $2 billion from $1.8 billion. Including results of Simp- sons-Sears of Canada, ac- quired in July, overall sales were $2.4 billion. K. Mart Corp., ranked No. 2in the U.S. by 1982 sales, gain of 10.5 per cent to $1.52 billion from $1.88 billion. Other large national and regional chains reported sim- ilar results, - Third-ranked J.C. Penney Co. said its store and cata- logue sales were up eight per cent to $1.1 billion from $1.0 billion a year ago. F.W.Woolworth Co. said sales in the four-week period were $449 million, up 7.4 per cent from $418 million. Chair- man ‘John Lynn attributed the gain to good Halloween business and unusuallly early c reported a sales Fri, | Sat. Dec. 9 |Dec. 10 9 9 to 5:30 Sat. Dec. 17 9 V-8 COCKTAIL JUICE 1:36L (8 fez) Ta. BATHROOM: CHIP Save 5c. C Old Dutch. Assorted. : 2006. Box....... secs eeeeeee FROZEN TURKEYS Prices Etfective While Quantities Last, =. .73°1.99* FRESH MUSHROOMS z.s4 5188 Prices Effective Dec. 8,9 & 10 IN THE CASTLEGAR STORE MOUNTAINVIEW AGENCIES LTD. 676+ 10th$t., Contloger 366-2111 CHRISTMAS HOURS +? SED Wonday to Friday 9:30 a.m. to 9:00 p.m. My) Saturday 9:30 a.m. to 5:30 p.m. er A EY Oo TRAIL ‘CANADA'S LARGEST CANADA'S LARGEST REAL ESTATE NETWORK REAL ESTATE NETWORK A.M. WHEE A.M. WHEELS 364-0202 364-0202 MOUNTAINVIEW AGENCIES LTD. 676- 10th$t., Ceatloger 966-2111 ICLOSED Garaway Limitao CANADA SALES IN RETAIL QUANTITIES ONLY