Wednesday, January 15, 1992 Foundation aiming to beat its lofty goal The Heart and Stroke Foundation of B.C. and Yukon has elected Bob Cobb as the man who will lead the organi- zation through what many be- lieve will be its toughest year ever. Cobb, a partner with the ac- counting firm Peat Marwick Thorne, was elected president of the Foundation at its annu- al general meeting in Vancou- ver recently. Cobb says he is looking for- ward to the challenges the coming year presents. * “Six months ago we set our- selves an ambitious $7.7 mil- lion target. “As we look at the shortfalls other campaigns are experi- encing, we have to expect the difficult economy to have an effect on our fund-raising drive,” Cobb said. “Though I recognize that it’s going to be an extremely challenging year, I will be working with the Foundation to develop strategies to ensure that we turn our dream of $7.7 million into reality.” Cobb says the need for heart and stroke research and education in B.C. and Yukon has never been greater. Heart disease and stroke claim the lives of 170 British Columbians every week, more than all other dis diseases com- bined. If the Foundation is to beat the growing demand for edu- cation programs and keep up with the rising costs of re- search, Cobb says it needs to raise the $7.7 million. The Heart and Stroke Foundation is a community- based organization of volun- b AUCTION. BOARDWALK USSELL “ reas ann. o YeTiON aT Brian L. Brown. CERTIFIED GENERAL ACCOUNTANT py mec ialeoly- apelin * Quality Moteriate & Workmanship + Complete line of Sorel ad & Vinyl Windows a Eliminate the Watch for our sign 5 middleman — Buy Miles east of Direct and SAVE $$$ Castlegar on Hwy. 3A SCHARF CARPENTRY + CONTRACTING 270 Columbia Avenue Castlegar - 365-21 51 + FINISH CARPENTRY + FRAMING + CABINETS + CLOSET ORGANIZERS + DECKS NEVINS EQUIPMENT * LAND DEVELOPING * SUBDIVISION SERVICING Hourly Rates & Contract Prices Available! FREE Estimates! R.R. 1, Site 31, Comp. 4 Castlegar, B.C. V1N 3H7 Telephone: (604) 365-2398 Cellular: (604) 492-1662 "FREE ESTIMATES” Phone Chris at 365-7718 Morrison Painting & Insulation * Blown Insulation ° Batts & Poly DUNCAN MORRISON 650-Sth Avenue 365-5255 STEEL A Better Way to Build CASTLEGAR FUNERAL CHAPEL Dedicated to oe, service. COMPLETE FUNERAL SERVICE Cremation, Traditional Burial and Pr Plan i ° Most Aivenced d System Gets more deep down soil than any other cleaning method + Upholstery Cleaning Too — SATISFACTION GUARANTEED — Why Not Call Us Today! FREE ESTIMATES PH. 365-6969 OIL FURNACE SERVICE & REPAIR COMMERCIAL — RESIDENTIAL REASONABLE RATES Denny's Furnace Service 365-7838 HARDWARE ~ BUILDING CENTRE FOR ALL YOUR Call Toll Free From: Castlegar - 365-0213 Nelson - 354-4137 Trail... 364-1311 8130 old Ak Home Waneta USCS = Road, building centreugly B.C. ARROW LAKES AIR CONDITIONING & MECHANICAL SYSTEMS Plumbing ¢ Air Conditioning © Refrigeration Furnace Service & Installation ¢ Controls 24-HOUR EMERGENCY SERVICE 365-2485 - AGRICULTURAL For more information, call your Authorized Garco Builder Midwest Construction Granite, Bronze Memorials, Cremation Ums and Plaques PHONE 365-3222 Services Ltd. 365-8410 Box 1633, Creston, B.C. Peet Sone MODERN : “REFLEXOLOGY MASONRY DESIGN AND FOOT CARE & INSTALLATIONS e Fireplaces e Patios ° Walis, etc. “Use Real Stone - It Will Last Forever" FREE ESTIMATES Phone 365-7051 GENERAL CONSTRUCTION “Cc tion - R i + Reasonable Rates .: Free Estimates 1 Services CALL 362-9558 THE PLUMBING | HEATING DOCTOR * GAS CONTRACTING > REPAIRS & RENOVATIONS + COMMERCIAL, RESIDENTIAL PLUMBING 24 Hour Emergency Service Ph. 399-4762 CASTLEGAR PLUMBING & HEATING For all your plumbing. needs and supplies - FIXTURES + PARTS + SERVICE CALL 365-3388 TRAIL CUSTOMERS ONLY CALL * Guaranteed Work « Fair Prices - 40 Years in Business ¢ Free Estimates JAMES SWANSON AND SONS ~ Ph. 367-7680 OIL G GAS FURNACE SERVICE & REPAIR HERCULES HEATING & PLUMBING 365-4948 CASTLEGAR STORAGE CENTER MINI-WAREHOUSE UNITS * YOU STORE + YOU LOCK * YOU KEEP THE KEY! PHONE: 365-6734 815 Hwy. 22 Castlegar (Next to Ernie’s Towing) WWILLE "Moving & Storage Ltd. 18 Branches in B.C., Alberta & Sask. 2337: venue, Castlegar Invite you to call them for a free moving estimate. Let our representative tell you about the many services which have made Williams the most respected name in the moving business. Ph. 365-3328 Collect @ Wednesday; Jandary15, 19927 Kent Parker GEORGIA PACIFIC SECURITIES Many prospective investors are scared away from the stock market because of the perceived risks involved. With the Black Monday crash still fresh in their minds, they look for safer, more conser- vative investments. The answer to their fi- nancial planning needs is likely to be mutu- al funds. Consider the following story. In the sum- mer of 1987, investors lost millions of dollars when the Edmonton-based financial empire The Principal Group coll d. Many i ments such as eligible deposits and invest- ments (including RRSPs), were not covered by the Canadian Deposit Insurance Compa- ny (CDIC), which ly insures deposits up to _amaximum of $60,000 per institution. However, investors who had mutual funds managed by The Principal Group escaped with their money intact eyen though mutual funds, like stocks and bonds, are not eligible ny took over management of the fund. It was business as usual. This is one of the attractive strengths of mutual funds. If the manager of a mutual fund ever gets into financial hot water or even goes bankrupt, the investor’s money is still protected. In the case of the Principal failure, new managers picked up where the previous ones left off. With mutual funds, managers do not own mutual fund share/units; investors do. That is the heart of mutual funds’ security. Other assets and securities, such as cash, are held by a custodian institution, usually a bank or trust company. Managers buy and sell securities, but these assets are not acquired for themselves. Since the fund’s portfolio belongs to the investors, the fund’s managers cannot claim the portfo- lio’s assets as part of their company. As well, for CDIC protection. When Principle col- . ‘| lapsed, Metropolitan Life Insurance Compa- Fearing another Black Monday the managers cannot use the assets to sup- port their own company. Investors may wonder hew their invest- ments are managed. Open-end funds, which allow investors to invest or withdraw their money at any time, are usually run as corpo- rations, trusts or — as in the case of insurance companies — as variable life policies. For tax purposes, mutual fund trusts pass to investors all Canadian dividends, interest, capital gains and foreign income, less ex- penses, Likewise, mutual danas corporations also pass on to the investor all dividends and cap- ital gains, but they are not allowed to forward interest and foreign income since they are taxable in the hands of the fund. However, mutual fund corporations can cut their lia- bility by charging expenses against interest and foreign income. Accountability is another attractive fea- ture of mutual funds. Mutual funds corpora- tions must hold annual meetings. Although mutual fund trusts are not required to meet this obligation, they must still issue detailed annual and semi-annual financial state- ments, just like the corporations. Some issue quarterly statements. This arms’ length relationship between managers and their mutual funds is one of this investment’s strengths. Not one dollar of investor’s money has ever been lost because of management bankruptcy. That is one rea- son why hundreds of thousands of investors choose mutual funds. _ But is security costing you money? A totally-insured guaranteed investment certificate may earn one to 10 per cent a year. However, the rate of return on many mutual funds, such as those managed by Trimark In- vestment Management Inc., is often consid- erably higher, sometimes reaching as high as 10- to 20 per cent a year. As well, it is a more attractive investment after tax. Revenue Canada Revenue Canada, Taxation has announced that the pre- scribed interest rate on over- due and overpaid income tax- es for the next quarter.is 11 per cent. The rate is4n effect from Jan. 1 to March 31. The prescribed interest rate during a calendar quarter is the average rate on 90-day treasury bills sold during the fixes quarter rate This prescribed interest rate applies to all refunds for overpayments as well as all overdue taxes, penalties, in- terest, insufficient installment Payments and employee tax deductions. This rate also ap- plies to overpaid and unpaid Canada Pension Plan contri- butions and Unemployment Insurance Premiums. SINESS. CASTLEGAR cHAMBER OF COMMERCE 365-6313. 1955-6th Ave., Castlegar VIN 4B7 first month of the preceding quarter, rounded up to the nearest percentage point, plus an additional percentage points. ENTRE INVITATION TO TENDER ‘Description: Elevator Maintenance Inspection Service for 6 elevators located at B.C. Hydro facilities in the West Kootenay Area. Reference: J508-92/01. Closing Date: 1992, January 31. Details available from Seven Mile Generating Station, Box 430, Trail, B.C., Vi1R 4L7, (604)367- 7521. Sealed Tenders clearly marked with reference numbers will be received at Seven Mile G.S. until 11:00 hrs. on the stated closing date. BChydro & COLEMAN COUNTRY BOY SERVICE Sump & Septic Tank Pumping Phone 365-5013 3400-4th Avenue Castlegar Foot problems? We'll help you solve them at LYON'S SHOE STORE 553 Baker Street, Nelson 352-3034 TRAIL STAGES "Charter for groups Anytime, Anywhere!” 1355 Bay-Ave., Trail «368-5555 OR CALL TOLL FREE 1-800-332-0282 Planning a Wedding We Sell Distinctive . . . Invitations, Napkins etc. Who killed Ethel Priggham? Was it Alexis . Romanoff with an ice pick or was it Biff Bradshaw with a lead pipe? Deduce Whodunnit? ’ ENTER AT PARTICIPATING CASTLEGAR BUSINESSES * ©Neal McKenna, 1992 The Castlegar News Presents .. . WHODUNNIT? Starting January 25th. Solve the Mystery and win a ‘Grand Prize Week-end Get- | Away for two all expenses paid! , PLUS one of Eight - Fabulous “ Weekly Prizes.