: eae oa : , , , a CC ePPa ed aa PGE LOcAN ForesT| “Investment scheme a success Ta seoecen ee Ht ath goon ia et ae i ‘RICHMOND (CP) — Slocan Forest Products Ltd. grants to businesses in the same year uy Aur pee Feb escreteg | uf ‘ Pee et “The government gains so much in the overall benefits I to the economy,” Beauchemin argued. 4 i has offered to buy Balco Industries Ltd., says Slocan | investors, stock brokers. and president Ike Barber. enthusiastic. i Td he eae Lead H j g Ff Fi itettfiea: reduced by as much as 15 per cent for im dollars have been raised for companies, debt-equity ratios have improved and jobs have created, said the study. Sl rer erear i a a ul : ’ ‘And at the bottom line, the plan's stocks have actually | Barber said his company, which has sawmills in the Pi jis government in 1979, A bonus spinoff was the economic activity generated out-performed all the other stocks indices on average, said British Columbia communities of Slocan, Quesnel and | the plan allows Quebec residents to buy newly-issued shares among stock firms, I ‘and Paul Mathurin, partner with McNeil Mantha Ine. of Radium Hot Springs, has offered one-half of a common | in Quebec-based companies and deduct between 50 and 100 even printing firms, Montreal. rae share of Slocan and $8.25 cash for each share of Balco. | per cent of the costs from their provincial income tax. Stock brokerages and money traders hired 1,000 Mathurin is credited with underwriting the first Balco shares last traded at $9.50 while Slocan shares And 1986 was the, plan's best year ever: Quebecers additional people between June 1983 and June 1986, while company to go publie under the plan's rules, The trailed at $7.50. Both companies are listed on the | pumped $1.55 billion into the provincial economy through the number of those employees in Ontario remained about performance of Cascades Inc. made the blue-chip stocks look Vancouver and Toronto stock éxchanges. the plan and 89 of the 177 new company listings on the the same, the study said, stagnant. _ In the 11 months ended Nov, 30, 1986, Slocan had net Montreal Exchange were eligible. It also said the cost to the government in lost tax Furthermore Mathurin believes the plan has changed earnings of $6.9 million or $1.62 a share. “The major intent was to reduce the tax burden on high revenues was an estimated $150 million in 1986. This investment habits of Quebecers forever. - The offer is open until Feb. 3, Barber said, earners,” Francine Beauchemin, vice-president for market ‘An offer to purchase controlling interest in Balco policy at the Montreal Exchange, recalled in an interview. already has been made by Timber Investments Ltd. Business people had complained the high taxes made it Baleo shareholders vote Jan. 27 on the proposed | difficult to attract executives to Quebec. issuance by the company of 1,250,000 common shares to ‘Thrice modified, the plan now has become instead an Timber at $10 a share. instrument of i by giving medi . Barber said his company’s offer for Balco, which has sized companies access to public capital markets, Beauche- three sawmills and a plywood plant in the Kamloops area, min said, with many positive side effects. part was made because “we wanted to provide an alternative It is the envy of other provinces but the only one to Pras % for Balco shareholders to have before them when they emulate it is Alberta, which introduced a similar plan last 8 * were asked to decide on Balco’s sale of control to Timber. fall. \ : i 3 5 He Higee rare geen aU ge Ee f) | t B 8 “S9E Bey s0> eay DIqQUINIOD IS7L a | 8zzs H *t i 8 iss i $3SNID11 ONY JINV! NV1dOLNY — DED! JONVUASNI JOHOD soBoyso> ‘yoo Yer - LZLL OA 404 @WOY O YM, | “We think there is an excellent opportunity to ‘The plan has had its critics. It has been described as a upgtade the facilities and thereby enhance the earnings, | tax dodge for the wealthy. Someinvestmentconsultants say secure.the employment base and improve the investment the program encourages unsound companies to go public and opportunity.” that some stocks are poor quality and overpriced. Slocan said the offer to Balco shareholders is subject MEETS GOALS to the termination of the private placement agreement Steven Jar a 1 with Timber, the acquisition by Slocan of a majority of with Fraser and Jarislowsky Co. Ltd., referred to the plan’s the Baleo shares and approval by B.C. Forests Minister | issues in a recent interview as “all those idiot stocks. They're Jack Kempf. going to cause trouble in due time.” But a study, din her for the In Deaths raise concerns eon wo Hi ee % : # “e01sqejeo -yeuowed: esoui pus 10h 0A MON eur uM suIQgo ewoser sg use pue sepa] wepy usiied vosjodeN BHEMOTEM SUN. tioned @ 08/8}8 uj ‘OVeDU0) seejunos oy) Soysep -HOUNN @10F 4G 1811819 en) eeu edoH Gog B1uIOs1A 188M euorB@uy ods el . unos pat $4004] 8105 audesuuy aulla}st] Bod ;xeu vo penuyju0> uewu0H “peinpeYyds 10} ‘s06u080) “spjo 04 eng O70) Ps}De480D x0 wom 3000 oer dO CTHOM ane woe eyj 0; sewoo omy awIunee AA -yem puw Bunured 10) ‘siy8m esedeud 0} MOH, SMVLNO @ Keusnol SMBINO UL BIWIONI8D,. DAL~) you wos) (4-9 ‘980 pedal) wep Sunes ye 981g BURIsINO? yevonjounjsAp ‘Bumos nBoyso> ‘yoe.4s WF - ZL dOHS JONVENSNI dOLS 3NO 8NOA a ONWUNSNI JOHO w8u pezjuetio f eum Buippem sivey ous e joWOH ueg ¥ Puy UEWOM 0} e010) yee) Jee wep ¥ sumoy premoH 4 ut pooysog yo vowezne 601d 2080s NVIQYNYS 6 sieye enesOpey (onary) somjed voisog 1 s1ey00y VoIsNOH pesmjee; ‘zepuewes BuBOIM BIAUNOUT AM, Bos sows Aste) 18 ‘yonUeD J0AROOUEA Bad | CWNOWLYN: ¢ spBeyso> Ay OLqUINIOD SVL 8TZS-S9E ANLINES LN o nO, 40} @WOY O YIM, iz uor ‘Aopseupayy 04 yBnosyy GI “UOT ‘kOpsanyy, . panul}uod Aopinjos Iz ‘uor ‘Aopseupem 04 yBnosy) S1 “uor ‘ADpsunyL = EDMONTON (CP) — The deaths of three oilfield work- ers last month are raising serious concerns about safety in Alberta’s depressed ener- gy industry, says a spokes- man for the Canadian Asso- ciation of ‘Oilwell Drilling Contractors. Ron Waye, chairman of the association's service rig divi- sion, said he’s worried rig workers may not be as sharp d for ledge or appreciation of as they should be when re- turning to work after long layoffs. He's also concerned com- panies scrambling for limited business might not be main- taining equipment as well as they would in better times. But Waye cautioned it's hard to assign blame to any- one, even though trying to Review calls for changes VICTORIA (CP) — A re- view of forest management recommends sweeping chan- ges in the way reforestation is funded. The review says Section 88 of the Forest Act, which al lows forest companies to de- duct tree-planting costs from the timber royalties they pay, should be eliminated, and the province should pay directly for reforestation. The dati is mendations have been put out for public comment. “This is what my staff rec- ommends,” Kempf said. “I want the public to tell me if it agrees. It's a white paper approach.” The report is the result of a forest management review initiated by Kempf late last summer shortly after he as- sumed the forestry portfolio. Kempf said publicly that one of 56 in the report made public today by Forests Min ister Jack Kempf. Kempf said the recom- Onion dumping banned OTTAWA (CP) — The Revenue Department issued the gover was not get- ting enough of a return from the forest resource. But the comment came just as a U.S. trade tribunal was to decide whether the forest industry was subsidized. The tribunal found it did enjoy a subsidy and recommended a 15-per- cent interim duty. Ingeneral, the recommen. dations put more of the res. ponsibility for forest man- agement in the hands of industry. It recommends that forest ap y determi of dumping Tuesday against yellow onions imported into British Columbia from four western American states. The dumping involves fresh or whole yellow onions imported from Washington, Idaho, Oregon and California. Duties will be imposed on onions shipped from those states if they are brought into British Columbia for less be paid directly for tree planting programs, rather than have the costs deducted from their timber royalties. The industry should be re- quired to plant trees, whe- ther the provincial funding is available or not, it says. The review also says stum- page should be at a high enough level to cover all the costs of industrial forest drilling jobs increases the risk of poor work and ac- cidents. “In order to get operating costs down, you have to cut corners somewhere,” he said. “In general terms, there’s a high level of accidents.” The Workers’ Compens- ation Board says three fatal- ities oceurred in Alberta's oilpatch last month, one of which is still under investi- gation. During the same per- jod in 1985, there were only two deaths even though drilling activity was consider- ably higher. KEEP KNOWLEDGE John Niedermaier, chair- man of the drilling contrac- tors association, said rig workers don't lose their ig safety. rs “It's like riding a bicy€le,” he said. “You get the hang of it. You know the risks.” He said he couldn't com- ment on possible poor equip- ment maintenance. Two of the men killed last month were experienced drillers. One died when he fell into a sump pit while another was hit by a chunk of iron. The third man died at a natural gas plant. AlAnderson, executive director of the Petroleum In- dustry Training Service, said some companies cut training when times get tough. “You can’t prove training does any good, but it sure as hell costs a lot of money,” he said. PWA purchases quarter CALGARY (CP) — Pacific Western Airlines Corp. will purchase a 25-per-cent inter- est in a new joint venture company called GPA Airbus 320 Ltd., the company an- nounced Tuesday. The new company has pla- ced 25 orders and taken 25 options for its A320 aircraft. The orders are to be offered on operating leases to air- lines around the world begin ning in 1990. Pacific Western's invest- ment in the new company will be made over a five- year period starting this year. Rhys Eaton, president and chief executive officer of Pacific Western, said the air- bus jetliners will have “clear operating and marketing advantages over currently competitive aircraft.” The A320 is a narrow bodied aircraft which seats up to 176 passengers and can be readily adapted to cus- tomer needs. interest Corp. is the holding company for Pacific Western Airlines Ltd., Pacific Western Holi- days Ltd. and Pacific West- ern Leasing (1986) Ltd. It also has a 46-per-cent investment in Time Air of Lethbridge, Alta. and a 50- per-cent stake in GPA Jet- prop Ltd. The corporation recently announced an agreement to buy all issued and outstand- ing common shares of Cana- dian Pacific Airlines Ltd. Mr. Gary A. Maloney, President and Chief Executive Officer of the Maloney group of companies, is pleased to present the Salesman of the Year award to Mr. Brian Bebelman of Maloney Pontiac Buick GMC, Ltd. Brian, born in Hamilton, Ontario and educated at Ryerson Technical Institute in Toronto, has been a West Kootenay resident for the past twelve years and an employee of Maloney Pontiac Buick GMC Ltd. for the last eight the very finest attributes in sales leaders! ears. Married, with two sons, Brian exemplifies ip and community involvement. During 1986, Brian sold 99 new and 116 used vehicles for a total of 215 vehicle sales. This dedication carried over into his personal life where he is active in community sports and is the Fire Chief of the Pass Creek Volunteer Fire Department as well. So a tip of the Maloney Hat for a job well i done and our sincere cong: i tor this achi . Brian wishes to extend an invitation to his many friends and customers to contact him for their wahicle needs, either at home 365-2556 or at Maloney Pontiac 365-2155. at = it’s sausage making time Your satisfaction is our main concern 1s 3S @ (2102 ued) jun Yep jooyss yoy than amounts the Revenue management. Pacific Western Airlines Department has set to coun- ter the dumping. "The department will issue HOMEGOODS a final determination by a FURNITURE ‘The Canadian Import Tri bunal will hold hearings on the issue after the final de- W ARE HOUSE termination is made and rule on whether the imports are Tues.-Sat., 9:30-5:30 ° hurting B.C. growers. 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