Commodities Ltd, said Mon- day they fear their clients might have lost everything. They found a notice on the company's offiee door on Monday telling the firm's brokers their services were no longer required because there is no commodity law in B.C. they had no power over dity brokers gi are bought and sold only on client instructions, and that the company ¢ould not meet its financial obligations. “I can't believe it,” said one broker, who asked to remain anonymous. “My clients had about $70,000 worth of bus- iness with them (King Lung Commodities) and now they could lose it all.” Another commodities firm, Yearcome Commodities Ltd., apparently shut down late last week, B.C Superinten- dent of Brokers Rupert Bul- lock said. Bullock said his in- vestigators had interviewed Yearcome officials but had not yet filed a report. Both King Lung and Year- come were a souree of con- troversy in Vancouver's bro- kerage community because they operated without gov- ernment regulation. _. The Commodity Contract Aet, passed by the B.C. leg- islature in 1978 to regulate commodity trading, was in practices that are out- lawed in trading of securities such as stocks or bonds. report on their financial state to regulators. B.C, requires none of these Bullock's Some V od. ity brokers also trade in sec- urities, allowing Bullock to regulate them. Others are regulated because their par- ent firms are members of U.S. or Canadian commodity exchanges, which set stan- dards for the practices of member firms. Bullock said his office was investigating the King Lung closure but had been unable to contact company directors by late Monday. The ,com- pany, with some 60 employ- ees, established itself in Van couver about two years ago. King Lung broker James Chiu said company president Peter Cheung is currently in Taiwan and claimed company manager Mark Chow was last seen by a broker last Friday at the V: Interna- things of commodity brokers. teld officials of both King Lung and Yearcome last year that, 270 Columbia Ave. jar Ph. 365-2151 when B.C. dities leg- islation finally comes into force, they will have to be licensed by the superinten- dent of brokers. King Lung sales manager Joe Nowak, who has worked for the company for the past 18 months, found out late Sunday that he had lost his MOROSO, MARKIN & BLAIN Certified General Acc: Lhd 241 Columbia Ave. Cacél job and said many empl are owed wages by the firm. He said the company had of- fices all over the world and employed about 25 brokers in Vancouver. Bob Granger, regional dir- ector of the Investment Deal- ers Association of Canada, said the closures underscore “the desperate neeg” for di in B.C. Price-gouging charged MONTREAL (CP) — Car owners could save a bundle on replacement parts by buying from i d It revealed spreads of up to 200 per cent between dealers’ prices and what independent suppliers rather than car dealers, says the Automobile Protection Association. “Dealers are price-goug- ing,” said Phil Edmonston, president of the 15,000-mem- charge. said he believes this situation prevails across the country. “The only thing that changes much (from region to region) are labor rates and we didn't take those into ac- count,” said the consumer what parts should cost.” ‘The association has just published a survey it conduc- ted into prices in the Mon- treal area for 38 basic parts on nine 1981 North American and imported models, includ- ing the Chevrolet Chevette, Plymouth Reliant K and Vol- vo DL. “We just looked at parts prices and they are pretty well uniform across the country.” He added consumers.could save as much as two-thirds on parts by purchasing re- conditioned components. 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