oY
Ps

December 30, 1989

OPINION

Better, but
long way to go

The remarkable changes sweeping through Eastern Europe
during the last few weeks have happened so fast it’s hard to grasp
sometimes that we are witnessing events which will indelibly stamp
the year 1989 intothe history books along with other historical dates

As the.decade draws td a close, the world can truly be thankful
that the fall of Communist totalitarianism in the East Bloc has, with
the exception of Romania, taken place with no bloodshed. Even the
most diehard optimist WoUld have been hard-pressed in 1980 to
predict a non-violent end to the Cold War as Ronald Reagan assumed
the presidency of the United States and started a huge military
buildup to defend the free world against the "Evil Empire” of the
Soviet Union

Some will argue that Mr. Reagan's flexing of U.S. military might
is one reason the Soviets specifically Mikhail Gorbachev have
been forced to rethink a ruble-for-dollar expenditure on weapons as
their economy crumbles

That may be, but Mr. Reagan's apparent willingness to play
military brinkmanship with the Soviets earlier in the decade certainly
raised some doubts that this world would survive to see the turn of
the century

Now, as the 1980s draw to a close, it's tempting to enter the
1990s on a wave of exuberance fuelled by the blossoming of freedom
in Eastern Europe. But it's naive to think everything in the world is
rosy..Ask_blacks-in South-Africa; ask the people who live in fear of
death squads in Central America, ask the victims of repression in
China, or ask the millions of people in the world who go hungry
everyday

There's no doubt the world's a better place now than it was at
the'start of the decade, thanks to the easing of East-West tensions
But folks, we've still got a long way to go

Let's keep trying. Happy New Year

Hey, Gorby may be the ‘
Man of the Decade for the 1980s...

-..but at least I've
chance at the 1990s title
than Noriega and Ceausescu

ot a better

Letters to the editor

Would-be Socred Keep eye on future

leaders stay
mum on ambitions

VANCOUVER (CP) —
Vander Zalm hasn't yet announced
whether he'll step but that

Premier Bill (member of the legislative assembly)
that he can be.

down, © Grace McCarthy, former cabinet

hasn’t stopped people from handicap-
pimg potential candidates in the race to
succeed him

“*As far as I'm concerned, the job is
not open,” says Hope Rust, president
of British Columbia’s governing Social
Credit party

Maybe not. But Vander Zalm has
hinted it might be soon

After losing the Socred stronghold
of Oak Bay-Gordon Héad to the New
Democrats in abyelection Dec. 13
the Socreds” sixth consecutive byelec
tion toss — Vander Zalm said he would

go on television and announce his

wa =

Political observers think
pragmatists will advise him
unless he wants to lead the Socreds to
oblivion in the next election

KEEPING MUM

So far, all the would-be leaders are
scrupulously observing the formalities
and denying any interest in the job.

But a queue will form quickly if
Vander Zalm bows out

There’s apparently no lack of
politicians who believe they can save
Social Credit — much as Vander Zalm
did in 1986 when the party looked cer
tain to sink under public disaffection
with Bill Bennett, then pret Ben
nett stepped down to allow the party to
renew itself

party
to go,

A lot of names are being bandied
about, but the list of realistic prospdcts
is fairly short

* Bud Smith
backroom. organizer
Vander Zaim wave to a
Kamloops in the 1986 election and was
appointed attorney general last year
Analysts consider him the front
runner ma

Smith ran for the leadership in ’86
but supported Vander Zalm after the
second ballot. A political moderaté
compared with Vander Zalm, Smith
maintained his views without crossing
the premier

Author

Socred
the

seat in

longtime

who rode

David Mitchell,
chronicler of the Socreds, thinks Smith
would have the chance of
rebuilding the party’s broad coalition
that fractured under Vander Zalm

“He's one of the
who could attempt to revive the Ben
nett traditions,” says Mitchell

CONSIDER ODDS?

Stan Persky, author of a recent book
on Vander Zalm, thinks the 43-year
old Smith may sit outthis round rather
than preside over a potential disaster at
the polls,

“There's question
whether he’s ready to take all this on,”
says Persky, a political scientist. ‘*He’s
very shrewd.”*

For his part, Smith says his only am
bition is to be the ‘*best darn MLA”’

an astute

best

few candidates

some about

minister and- Vander Zalm's nemisis
since she ran third in the 1986 leader
ship. She left cabinet last year when it
looked as though shé would be
her high-profile
Economic Development Ministry
Persky says she has the strongest
Campaign organization in place and
could attract women voters alienated
by Vander Zalm’s anti-abortion views
At age 62, McCarthy is also no long-
term threat to others” leadership am
bitions, says Persky. But she’s disliked
by Vander Zalm loyalists and may be
shunned by Socreds who want to avoid

demoted from

Sustainable development is defined
in Webster's Dictionary as, ‘to keep in
existence; maintain or prolong.””
Could we then say that the proposed
expansion at the Celgar pulp mill is
sustainable?

Celgar has traditionally produced
pulp, not paper, which is by all accoun
ts the lowest common di in

1.5 kg/adt. However, when you
remember that the mill will also more
than double its pulp production, the

real decrease will be only 33 per cent,
Mr. Brown is quoted in the Dec. 23
edition of the Castlegar News in the ar-
ticle. entitled ‘‘Alberta effects dif-
ferent’ as saying, ‘‘What we're
isan Wekind

terms of production value and em-
ployment. It is also traditional to see a
lack of economic diversity in this
region. What happens to all that pulp
and the jobs associated with its tran-
sformation into paper? Well, they get
exported

Now you can argue that some of that
pulp is made into paper here in Canada
and therefore is not being exported at
all. But think, when your children need
jobs where do they go? To the same
places that a lot of that pulp gets expor
ted to, and that will not produce
longterm economic development in
this region 2

of feel we might be on the side of the
angels on this one.’” How appropriate
that angels are most closely associated
with the after life

By some estimates, Brazil will be
able to supply 60 per cent of the world
market demand for virgin pulp by the
1990s. Brazil can mature a tree in eight
to 12 years compared with our 400
years. That 60 per cent doesn’t include
Australia, New Zealand, Africa, Cen
tral and South America, and the
Soutern U.S., all of whom can mature
trees faster than we can

Celgar has applied for a pulp wood

hich would allow-+h

a fractious convention

McCarthy is being non-committal
until Vander Zalm makes his move but
says this:

**One thing is, we’re not going to let
the party go down the drain. I don’t
think it’s as big a challenge as we think
It’s personal credibility problem.”*

© Mel Couvelier, finance minister
and architect of British Columbia's
balanced budget. The former mayor of
the Victoria suburb of Saanich is said
to be ambitious. But Persky, pointing
to John Turner, notes that finance
ministers rarely rise to the top job and
succeed.

FEWER HOPES

Mitchell second
stringers the other leadership prospects
now in thecabinet

* John Reynolds, environment
minister and former Speaker: right
wing and quite outspoken about it, he
finished poorly in the 1986 convention

* Rita Johnston, highways and
transportation minister: a Vander
Zalm cheerleader who during the
recent byelection equated the NDP
with the Communist
Eastern Europe

© Claude Richmond and Stan
Hagen, respectively forests and
regional and economic development
both

promise choices

dismisses as

regimes of

ministers inoffensive com

Former Socred Kim Campbell also
gets mentioned, She broke with Van.
der Zalm over abortion and ran
federally last Already federal
minister of state for Indian and nor.
thern affairs, she’s on the Tory. fast
track and unlikely to give that up for a
dubious future in provincial politics

Then Vancouver Mayor
Gordon Campbell, seen as an outside
savior, a politician with
mode But he’s not even in
the party and would be hard to draft,
says Ken Carty, a political scientist at
University of British Columbia

“I once asked his wife what she
thought about it
horrified,”’ says Carty

year

there's

consensus

ate views.

and she was

RS
Castlégar News

MENABER OF THE 8.C. PRESS COUNCK

PUBLISHER — Burt Campbe

EDITOR — Simon Birch

PLANT FOREMAN
ADVERTISING MANAGER

OFFICE MANAGER
CIRCULATION MANAGER

Heather Hadiey

It is estimated that the current pulp
process produces less than one job per
tonne of pulp produced at Celgar per
day. The new expanded mill will more
than double its present daily produc
tion. However, there will only be 30
new jobs and that is only possible
That means Célgar will now employ
less than half a person per tonne.

Some people will point out the 1,200
construction jobs that will be created
Unfortunately, these jobs will not con
tribute to the longterm economic
growth of this region. What they will
do is to put an enormous strain on this
community’s resources and then leave

And what of the sustainability of the
kraft-pulp process itself? If it’s so
great, why has Sweden changed over to
a full oxygen bleaching system, a
process that doesn’t create dioxins,
furans and other organochlorines?

I'm sure Mr. Jim Browne, the mill’s
general manager, will point out that
the state-of-the-art mill will
produce much less pollution and
finally be a ‘Class A”’ mill. Celgar will
cut its organic chlorinates from 4.8
kilograms per air-dried metric tonne
(adt), which is the present output, to

new

cut trees above and beyond the annual
allowable There is in_ this
agreement no requirement for Celgar
toreplant the clearcut areas.

Now Mr. Browne will tell you that
this pulp wood agreement is only a
safety valve in case Celgar’s wood chip
supply is interrupted. He will tell you
that they will only be taking tops, lim
bs, decadent timber and trees cut to
thin existing reforested areas. But
remember, this is the same company
that closed its woodroom, costing 30
families their only source of income,
because it cost too much to keep open
Now do you believe they will go out in
to the bush and gather up what would
otherwise be burned as slash as well as
thinning and selective logging?

Did you know that the Regional
District of Central Kootenay is
preparing a recycling program for im-
plementation as well as using
recycled paper? Do you know that the
residents of the Kootenays collectively
produce 99,752.89kg of waste paper
every day and that doesn’t include in-
dustrial waste paper? Did you know
that recycled paper requires 43 per cent
less energy, 7,000 fewer gallons of

cut

Toll-free axed

AS you are aware, a referendum was
conducted area recently
to determine whether or not Castlegar
(365) telephone customers would like
one-way extended area service to the
Trail (364/368) exchange

Results of the referendum indicated
that only 35 per cent of Castlegar
customérs are in favor of having one-
way extended area service to Trail

Prior to seeking approval from the
Canadian. Radio-television and
Telecommunications Commission,
B.C. Tel is required to obtain an affir-

in your

mative vote from a majority (50 per
plus one) of ‘the telephone
customers who voted in the referen-
dum. We will therefore be unable to
proceed with this plan
Of the 4,322 ballots that were

mailed, 2,695 valid ballots were retur
ned and colinted. Of those, 913 were
in favor of having one-way extended
area service to Trail

Don R. Lauder

District Customer

Service Manager

Nelson

cent

Murders not ref

TORONTO (CP) — A majority of
Canadians see no connection between
the Montreal massacre of 14 women
and violence against women in general,
suggests a poll released this week

Six in 10 people surveyed believe the
incident was a random act by an insane
person and has nothing to do with at
titudes in society, suggests a poll con
ducted .by Angus Reid for Southam
News.

But close to four in 10 of those
polled view the Dec. 6 massacre, in
which thé gunman railed about
feminists as he fired on his targets at
the University of Montreal, as a sym.
ptom of widespread male violence

against women

Overall, 37 per cent of respondents
said the tragedy reflects male violence
toward women in general, while 59 per
cent said it does not

The poll of 1,501 Canadian-adults
was conducted between Dec. 13 and
Dec. 21. Such a poll is considered ac
curate within 2.5 percentage points, 95
per cent of the time

The poll asked: ‘Do you think this
tragedy says anything about
problem of male violence
women?”

People with university education
were, at 42 per cent, more likely to see
wider implications in the shooting. The

towards

the."

water per tonne, creates 75 per cent less
air pollution and 35 per vent less water
pollution-to~ produce than conven-
tional virgin fiber? Did you know that
recycled paper creates more jobs than
the virgin pulp produced at Celgar.

I can already hear the critics say,
“There's no market for those produc-
ts." As usual they are wrong. Did you
know that the ‘only mill producing
recycled pulp in Canada sells all of its
product to its American parent com-
pany, The Chicago Tribune? Did you
know that Canada imports $40 million
in recycled unbleached paper produc-
ts? Did you know that U.S. federal,
state, county, and city governments
will soon be giving preferential treat-
ment to bids for paper that are made
from recycled fiber?

It seems to me that if the people of
this region want to ensure their own
economic development and environ-
mental protection, they will have to do

edition of the Castlegar News, Mr
Browne is quoted as saying in the story
“Group wants project info,” “It
would make our job easier if they
would represent the population,”’
referring to the coalition group formed
to gather information on Celgar’s
proposed expansion.

So what can we do? First, write a let-
ter to Premier Bill Vander Zalm
requiring public meetings before the
work at Celgar can begin. Second,
require the federal, provincial,
regional and city governments to begin
changing over to chlorine-free recycled
paper. Third, buy chlorine-free
recycled paper whenever you can and
ask your retailers to stock these
products. Fourth, require the federal
government to set standards defining
what unbleached, chlorine-free and
recycled paper is. Fifth, require Celgar
to use all the waste paper it can get in
the production of unbleached recycled
pulp

With these steps we will be able to
ensure that all Canadian pulp mills will
become sustainable.

Darcy Suehn
Castlegar

Economic
forecasts
mixed

By LARRY WELSH
The Canadian Press

Chances ‘are there will be more
Canadians out of work in 1990, prices
‘on store shelves won't increase as
quickly as they did in '89, and taxes will
goup

And the cost of borrowing money
will probably remain expensive,
economists generally agree.

But they differ’ widely on whether
high interest rates and spreading
weakness in the economy will push the
country into a recession

“The big question is how much the
Canadian economy will slow down
during late 1989, and whether this will
bring a mild recession,”’ James Frank,
chief economist at the Conference
Board of Canada, said in a recent sur-
vey of forecasters,

While economists argue about the
answer, most think that John’Crow,
governor of the Bank of Canada, will
play the most important role in
determining whether the economy
grows or shrinks in 1990.

Crow has kept interest rates high to
fight inflation. The painful side-effect
isa slowing economy

WON'T HIT ALL

Workers at East Coast fish plants
and employees’ in Ontario car plants
and manufacturing firms could end up
bearing the brunt of a sluggish
economy, said Ted Carmichael, senior
economist at Burns Fry Ltd.

But if you're working at a business
management firm in Vancouver, chan-
ces are you'll barely notice the bumpy
ride ahead for the economy, he added

Up to mid-year, British Columbia
had accounted for half of all the new
jobs created in Canada and most
workers were hired in service in-
dustries.

Nickel workers in Sudbury, Ont.,
should also be able to rest easy, despite
falling metal prices.

Resource companies went through
painful layoffs during the last
recession and have kept their em-
ployment levels low. So there
shouldn’t be another flood of pink
slips in resource industries, Car-
michael said ™~

According to the technical
definition, a recession occurs when the
economy contracts for two con-
of a recession is more layoffs, tough
times for doing business and con-
sumers who are reluctant to open their
wallets

LOWING

Although economists disagree
about whether there will actually be a
recession, most believe the economy
will slow sharply in '90, increasing
unemployment and cooling inflation

The Canadian economy has been a
star performer for the last two years,
adding jobs at a faster pace than any
other major industrial country and
growing faster than any economy ex-
cept Japan's

“We expect the Canadian economy
to continue to expand . . . with no
recession anticipated Before the end of
1990,""| Marc Meagher, chief
economist at Merrill Lynch Caypda
Inc., said in an investment report./

But “‘over the next year we &pect
growth tocontinue to slow.”

A forecast from investment dealer
Wood Gundy Inc. is bleaker

“Canadians should prepare for a
disappointing economic performance
in the next two years,”” Wood Gundy
said

“A of policy restraint

Please address all Letters to
the Editor to: The Castlegar
News, P.O. Box 3007, Castlegar
B.C. VIN 3H4, or deliver them to
our office at 197 Columbia
Avenue, Castlegar

should ypewritien
double-spaced arid not longer thon JU
words

Letters must be signed and include
the writer s tull name and address. Only
in very exceptional cases will letters be
published without the writers nome
Nevertheless, the name and address ot
the writer mus! be disclosed to the
editor

Ihe Castlegar News reserves the right
to edit letters tor brevity, clarity, legohty

ond grammar

at home with a slowdown in the
economies of our trading partners will
eat‘into our incomes and undermine
the buoyancy we have exhibited for so
long.”’

CROW’S WAR

Perhaps the most painful restrint for
Canadians has been Crow’s single
minded determination to wrestle in
flation to the ground with high interest
rates.

“What we've seen is economic
growth slowing, but obviously not
enough” to bring inflation and interest
rates down, said Mike McCracken,
president of Informetrita Ltd., an Ot
tawa-based economic research firm

lective

poll also suggests that among women
aged 18 to 34 years, the proportion of
those who see wider implications rises
to.47 percent

The women killed — all but one of
them students at the’ University of
Montreal engineering school — were
shot or stabbed by Marc Lepine,
described as anti-social and the
product of a violent father who treated
jwomen as servants

The poll also asked if gun laws
should be changed to make it more dif
ficult for people to purchase deadly
weapons. It suggests 72 per cent of
Canadians want it made more difficult
while 26 per cent do 1161

E ; company presidents
and workers all want to know when
Crow will believe he has done enough
tocontrol inflation and when he will let
interest rates fall

The short answer is no one really
knows

“It's a toss-up,”" said Doug Peters,
chief economist at Toronto-Dominion
Bank

Peters believes Canada will skirt
recession in 1990 and short-term i
terest rates will fall about two percen
tage points by the middle of the ) car

But Peters is the first to admit that
there is a Very thin marein of error in
his forecast. “*Any hiccup could put
that growfh forecast into a negative
figure

“You could easily have a recession
in the last quarter (of "89) and first
quarter (of '90) or dufing the first half
(of "90)."*

BUSINESS

SS

Castlegar

December 30, 1989

New year brings tax hikes

OTTAWA (CP) — As if it wasn't
enough to worry about January bills
and your deflated wallet after the
holidays, Finance Minister Michael
Wilson will help ring in the new year
with another round of tax increases.

This time taxes are scheduled to go
up on gasoline and building materials,
while farmers will get a rebate on some
of the tax paid on fuel extended for
another year

Ottawa will also ask cOmpanies to
make a new year's resolution to pay
their taxes promptly and more money
will be collected by changing the way
laundry detergents are taxed.

The changes were included in
Wilson’s budget last April, but don’t
take effect until Monday.

If you think your tax headache is
bad this New Year's, wait until Jan. 1,
1991

That's when Wilson is scheduled to
replace the existing 13.5-per-cent
federal sales tax hidden in the price of
manufactured products with his
proposed seven-per-cent goods and
services tax.

Federal taxes will go up on a broad
range of goods and services that aren't
taxed under the existing levy.

This year, Wilson will increase the
excise tax on gasoline by one cent a litre

effective New Year's Day, collecting

an additional $320 million for the

federal government.
BUILDS THE COFFER

The construction sector will also
contribute more to federal coffers.

The existing federal sales tax on con-
struction material and equipment used
for building will be increased to nine
per cent from eight per cent, collecting
another $250 million,

Farmers, fishermen, loggers,
miners, hunters and trappers will get a
tax break in 1990.

They'll stop getting a rebate on ex-
cise tax paid on fuel used in off-
highway production.

But they’ll receive a federal sales tax
rebate for another year, worth 3.5 cen-
ts a litre of fuel for farmers and three
cents a litre for other resource
producers.

Wilson had planned to eliminate the
rebate in 1990, and extending it for
another year will cost about $125
million in lost federal revenues.

In one small tax wrinkle, the federal
government will pick up an additional
$10 million by taxing laundry
detergent at the wholesale level instead
of the manufacturing level.

Tax collectors will also. ask com-
panies to pay their taxes promptly in

MICHAEL WILSON
. .- looks for revenue

1990, resulting in a one-time $350-
million revenue increase.

In the past, the federal government
considered corporate taxes paid if they
were mailed first class by the due date,
even though the money might not be
received until several days past the due
date

In 1990, company taxes will be con-
sidered paid only if they’re actually

Yeah, sure.

pieces.

vices at Royal Trust in Toronto:

saving.””

in Burlington, Ont

By ROBCARRICK
The Canadian Press
The beginning of a new year is the perfect time to
start controlling your finances more responsibly.

Such advice can make you want to holler with
frustration when you've got a stack of holiday-season
debts on your desk. But it’s never too late to pick up the

Seven personal finance experts were asked to

suggest New Year’s resolutions to improve the average
person’s financial standing. Here’s what they said:

© Jeff Halpern, director of private banking ser-
“Forget about that
plastic, or consider it only for emergencies.

““Come the new year, most people are up to their
ears in consumer debt. This is the biggest impediment to

© Brian Costello, a personal finance expert based
: ‘Manage your mortgage better.””
Costello says he expects interest rates to fall two
percentage points in the first half of 1990. If he’s right, it
means going for a short-term mortgage now because as
interest rates fall, you should be able to renew at a lower

Experts offer advice

your principal

savings.

Planning
especially
something.

The faster you pay off your mortgage, the lower the
interest charges you'll pay

* David Chilton, author of The Wealthy Barber
guide to money management and a personal finance ex-
pert based in Kitchener, Oni
plan instead of a budget, which never works.

Chilton advises automatically scooping 10 per cent
from your take-home pay and putting it away as

© Warren Baldwin, senior consultant
Executive Estate Services in Toronto: 5
financial planning right now, rather than putting it off

**People generally don’t think about their finances
until April (tax time). Then they do their taxes and don’t
think about their finances until the next year

© Timothy Egan, president of T.E
in Toronto:
when you

“Treat yourself like a business,” Egan says. ‘Plan
your financial life more precisely so that you do things
with a foreknowledge of what you are trying to accom-
plish rather than acting on the spur of the moment

* Tom Delaney, a personal finance expert in

*Rely ona forced savings

tart your

Financial
spontaneous buying,
can’t afford to buy

Curb
really

received by the federal government on
time — late or deficient payments will
be subject to interest charges.

CHANGES THE RULES

The finance minister will case
regulations concerning” how often
some companies with small payrolls
must send taxes deducted from their
employees’ paycheques to the gover-
nment, reducing federal revenues by
$80 million.

Companies deducting more than
$15,000 a month on average of tax
from their workers were to send
the money to the federal government
up to four times a month in 1990,
depending on the number of paydays
inamonth

That compared to up to twice a mon:
thin 1989,

But Wilson decided in the last
budget that about 36,000 companies
with small payrolls will still only have
to send the money to the federal gover-
nmegt twice a month in 1990.

All told, the total bill for tax in-
creases effective in 1990 and those im-
posed previously comes to $6.95
billion for the fiscal year ending March
31,1991

That compares to spending cuts in
the last budget of $2.079 billion for
1990-91

Canadians can look forward to even
more tax increases in the future.

Wilson has already announced taxes
will be going up on New Year's Day,
1991, to help lower his proposed goods
and services tax to seven per cent from
nine per cent

He'll raise taxes on large cor-
porations and wealthy Canadians, and
he’ll also eliminate a planned tax break
for middle-income people, increasing
federal revenues by about $1.1 billion.

The finance minister will also keep
federal taxes the same on gasoline,
alcohol and tobacco in 1991

Taxpayers still have to face Wilson's
next budget, expected in February

The finance minister has already
hinted it will be tough as the federal
government struggles to reduce its an-

nual deficit

When Wilson cut his proposed
goods and services tax just before
Christmas, fe said high interest rates
and inflation are putting pressure on

the government’s deficit outlook for

next year
The finance minister predicted last

April that the deficit would fall to $28

billion in 1991-91 from $30.5* billion

for 1989-90.

Tate.

another,"’ says Costello

payments instead of 12

“And there'll be a lot of competition out there for
mortgages, so you can play one institution off against

¢ Henry Zimmer, a chartered accountant and tax
expert in Calgary: Make an extra mortgage payment at
some point during the year so that you end up with 13
That extra payment reduces

Toronto: ‘‘Instinctively, I'd say maximize your RRSP
but
judging by figures that show that over 50 per cent of tax-
payes contributeto RRSP.”

Delaney also suggests that for any purchase you
make, whether it be financial products or consumer
goods, shop the market for the best deal rather than
making a quick buy based on convenience.

contributions,

everyone seems to know that,

SEASONS GREETINGS

From All of Us at
Castlegar Saving

(C5) =

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Sunday, December 31
CLOSED

Monday, January 1
CLOSED

Tuesday, January 2
8:30 a.m. toS p.m.

SX.
Castlegar News

baal
All the Best Wishes for a Joyous Holiday
Season and a year of health and happiness!

A special thank you to all my friends, clients
and readers

eal
ni °Fstate

WITH BARRY BROWN

OVER NIGHT SERVICE

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Weekly stocks

TORONTO (CP) — Stock prices
moved ahead in both Toronto and

New York on the last trading day of

1989 in a rally that some analysts said
showed an optimistic investor market

Despite a low volume, the Toronto

Stock Exchange's 300 composite index

rose 37.55 points to close at 3,969.79
for a 32.6-point gain on the week and a
17-per-cent gain for the year. Over the
decade, the index rose about 186 per

cent
The Dow Jones average of 30 in

duiStrials rose 20.90 Friday to 2,753.20,

extending its gain for the week to 41.81
points.

January
learance

IN LADIES &
FABRICS DEPT.

In 1989, the Dow average. climbed

584.63 points, or about 27 per cent
capping a rise for
1,914.46 points, or about 228 per cent

On other Canadian markets, the
Montreal portfolio index rose 18.91
points to close the year at 2,030.83 for

a gain of 23.64 points on the week

the decade of

The portfolio index gained about 19
per cent in 1989. The Vancouver Stock
Exchange rose 9.14 points to close at

713.71, a 9.91-point gain on the week

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