February 6, 1985

OTTAWA (CP) —- Most
Canadian manufacturers ex-
pect production will remain
at current levels for the next
NEW IN TOWN? three months, Statistics Can-
* | ada said Tuesday.

The government agency

LET US PUT reported a small percentage

OUT THE MAT of firms said production

would Increase, while a mat-
FOR YOU!

~ ching number said it would
1 eee,

decrease, but the majority
expected it would remain the
same.

Breaking the figures down
by province, manufacturers
in New Brunswick, Ontario
and Manitoba were the most
optimistic.

Elsewhere, manufacturers
expecting lower production
outnumbered those expect-

ee Fangs Hane 2 me eg *

Joyce 365-3091 ing higher production.
Connie 365-7601 A spokesman for Statistics
Canada said manufacturers
February

ALFONSO APA

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were not asked in the survey
to explain their responses,
and he could not speculate
why Ontario, New Brunswick
and Manitoba were more
optimistic than the rest of the
country.

The survey also showed
the majority of manufactur-
ers reported new ofders have
remained at the same level as
the last quarter. Provincial
results showed new orders

have increased in Nova
Scotia, Ontario and Mani-
toba.

The majority also said the
backlog of unfilled orders in
January was normal, the
level of finished-product in-
ventory was about right and
no difficulty was experienced
in getting working capital.

ECHOES SURVEY

The Statistics Canada sur-
vey echoes a survey put out
by the Conference Board of
Canada last month indicating
that senior business execu-
tives became considerably
more confident in Canada’s
investment environment in
the fourth quarter of 1984.

They were also more op-
timistic that over the next six
months their firms’ employ-
ment levels will rise, labor
costs will decelerate further,
profits will increase, sales
will expand and inflation will
continue to ease, the Confer-
ence Board said.

Both surveys were taken
before the recent drop in the
value of the dollar and the

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Manufacturers expect
no change in production

upturn in interest rates,
which had fallen steadily
since mid-summer.

The dollar was. trading
below the 75-cents U.S. level
on foreign exchange markets
this week and the bank rate,
used as a base by chartered
banks for mortgage and con-
sumer loan rates, increased
to 9.75 per cent last week
from 9.66 the previous week,
only its second increase since
mid-July.

Some of the optimism ex.
pressed by manufacturers
may have resulted from in-
creased profits in the third
quarter. Another survey by
Statistics Canada showed
pre-tax profits of industrial
corporations in Canada rose
3.6 per cent in the third
quarter to $9 billion.

This follows growth rates
of 3.7 per cent and 3.3 per
cent in the two previous
quarters.

The government agency
said the third-quarter pre-tax
profit figure was the highest
since the $9.3 billion recorded
in the first quarter of 1980.

On a year-over-year basis,
pre-tax profits rose 18.9 per
cent compared with the third
quarter of 1983. Year-over-
year sales increased to $152.7
ion in the third quarter of
1984 from $138.6 billion in the
third quarter of 1983.

Aide accepts
severance
package

VICTORIA (CP) — Former
Social Credit aide Maury
Gwynne has accepted a
$15,000 severance pay pack.
age from the government.

Gwynne said he had dis
cussed the possibility of a
wrongful dismissal suit with
lawyer friends but decided to
accept the severance offer,

ich he described as “stan-

Gwynne, 63, a former re-
porter with the Victoria Col
onist, CKNW and other
broadcast stations, was fired
two weeks ago by Premier
Bill Bennett's principal sec-
retary, Bud Smith, with the
concurrence of his own boss,
Intergovernmental Relations
Minister Garde Gardom.

The action was taken after
Gwynne told a reporter in
quiring about the availability
of Gardom and other min.
isters to attend a meeting on
poverty that “maybe they
should have the meeting in
where many gov.
ernment members were vac.
actioning.

Smith fired him the next
day.
“Smith said the line
was an embarrassment to the
government,” Gwynne said.

POWER LUNCHING

* OTTAWA (CP) — Be it steak and onion rings or dim
sum, the right meal in the right eating spot just might
make the difference between the rise or fall of the
inflation rate.

Power lunching — the trendy term for breaking
bread among the politically powerful — is reported to be
one of the most significant arenas for politicans and
bureaucrats deciding the fate of the nation.

The Conservative federal election sweep and the
subsequent disappearance of many Liberal regulars from
the restaurant scene in Ottawa sent ripples of unease
through the eating industry.

But now, as one restaurateur put it: “People are still
eating out.”

In power lunching, it's where and with whom that
counts.

Mandarins and ministers in Ottawa combine
business with breakfast, lobbying with lunch and do their
constituent-soothing at dinner. In short, they eat a lot.
And to many of them, eating is a business opportunity.

Like the thickness of their rugs, there's a pecking
order to eating out. If the minister is eating in the hotel
dining room, you can bet his executive assistant and
deputy ministers are around the corner in a more modest
spot.

TOP OF THE LIST

Numero uno with the politicians and members of the
press gallery is, of course, the plush parliamentary
restaurant where everyone, including staff, is on a
first-name basis.

Invite the constituents for lunch, give them a chance
to star gaze and then sign the chit. It's easy, comfortable,
convenient and cheap, in spite of recent price increases.

A full-course meal costs $8, almost double its original
$4.40. ‘A cheesburger costs a mere $1.35.

Politicians’ favorites

contacts.

Rideau Club. A clutch of

Most of the newly elected Conservatives are finding
it the perfect place to meet other MPs and make good

The second favorite with political heavy hitters is the

ministers and senators are

members of the glamorous private enclave where small
tables, yellow damask walls and a sensational view of the
Hill make for perfect power lunching.

“If he’s ai cate on the Hill, he goes to the Rideau
Club,” said Joan Andre, whose husband Harvie is
minister of supply and services.

RIDEAU REGULAR

Jean Pigott, National Capital Commission chairman
and the first female member of the club, is a regular diner
there.

Prime Minister Brian Mulroney has been spotted
there a few times, as have Senators Finlay MacDonald
and Allan MacEachen and consultants Tom d’Aquino and
Simon Reisman. Author Peter Newman is also a member:

Mulroney invites eight or 10 adviers to 24 Sussex
Drive for a working breakfast, says Pat MacAdam, the
caucus liaison in the prime minister's office.

The fresh mussels and chicken with tarragon sauce
draw an impressive group to the National Arts Centre
cafe for lunch. It boasts a Liberal clientele, Mila
Mulroney's favorite chef, Kurt Waldele, such Tory
stalwarts as Veterans Affairs Minister George Hees and
Justice Minister John Crosbie and NDP Leader Ed
Broadbent, who is considered a regular by staffers.

PRICE IS RIGHT

Geills Turner shows up frequently and her husband
John Turner's executive assistant, John Swift, goes
often. The price can't hurt the pocketbook: entrees,
including soup and salad, cost between $5. 95 and $7.95.

‘The Grill at the Chateau Laurier, once the domain of
Liberal adviser Jim Coutts and John Turner when he was
finance minister, still collects a smattering of politicos —
some of whom live at the hotel.

The Black Cat Cafe, one of the in spots with Liberals
over the years, is still reeling from the election The
relaxed location on the Rideau Canal still sees Jean
Chretien, former Liberal cabinet minister, from time to
time. But Chef Catherine Wise and her husband Richard
Urquhart are wondering where the rest of the Liberal
caucus has gone.

BUSINESS

WHEN BUYING STOCKS

Look for direct sales

By ROBERT McLEOD
The Canadian Press

Many big Canadian companies will sell their shares
directly to the public and sueh direct stock purchases can
save a small investor money.

These pany i plans bypass 3.
This saves the investor the commission charged by a broke:
for buying the shares and sometimes the investor also gets
the company shares slightly below current market value.

Such direct purchase plans may appeal particularly to
those with limited funds to invest, as the broker's
commission could take a substantial chunk of the money
available.

The list of companies offering such plans includes Bell
Canada Enterprises, Dofasco, Canadian Pacific, Imperial Oil,
Hiram Walker Resources and many of the banks.

CONTACT FIRMS

There are others. Goro Hirasawa, vice-president and
director of marketing for investment dealers Wood Gundy
Ltd., says many senior names among Canadian public
companies have plans. If you are interested in the stock of a
particular firm, contact it and ask if it has such a direct
purchase plan and the details.

At Bell Canada Enterprises of Montreal, for example,
they have two such plans, the dividend rei plan

reinvestment plan has more than 133,000 investors — and
are subject to only a few restrictions.

At Bell you must already own one of the company’s
shares before you can join the plan and you are limited to
to investing $20,000 a year.

At Alean Ltd. of I, the annual
investment limit is $8,000 and the minimum to start is $50.

Alcan also has two plans. In one, you get the dividends
in cash but it is automatically reinvested in more shares.
In the other, your dividends come directly in the form of new
shares,

“The difference appears to be slim but it has to do with
tax,” a company spokesman said.

Basically, dividends received as stock are tax free.
However, if you sell any of the shares you have to add any
profit on the stocks sold plus the dividends to caleulate your
capital gains tax.

WILL BE TAXED

If the dividends come as cash but are immediately
reinvested by the company in more shares, they will be
taxed as if you had actually received the income.

However, at income tax return time, the dividend tax
credit comes into play and will either offset the tax on the
dividends or entirely cancel such tax if your income is below
about $19,000.

y hile, there's nothing to stop you selling your

and the stock dividend plan.

Under the dividend reinvestment plan, you give the
company money to buy common shares and it will reinvest
the dividends by purchasing more common shares at 95 per
cent of market value. At the current price of just under $35 a
share, you save about $1.70 a share.

Under the stock dividend program, you can receive
your dividends in cash.

Inventors hoping to
invent next pet rock

BOSTON (AP) — A yo-yo
with a brain, a mess-free soap
dish and a computer-driven
drum set that bangs out Elvis
Presley hits are among the
highlights of a fair where
everyone's hoping to invent
“the next Pet Rock.”

Michael Caffrey, one of the
exhibitors at the weekend
Inventors Fair at the Mu
seum of Science, said he

awoke from a dream about
drag racing with the idea for
his flawless yo-yo.

“It's got ‘intelli-clutch,’
that’s my word. It spins
longer, it automatically

sleeps, and it automatically
returns. All you have to do is
snap your wrist.”

Caffrey, 26, who used to
work for a toymaker, said:
“Everyone here thinks their
invention is the next Pet
Rock. I know mine is.

“What can I say, I'ma little
kid inside. I bet all inventors
are little kids at heart.”

Not far from Caffrey, Bob
Bouchal, inventor of a game
called Logical Nonsense, was
urging visitors to tell a story
into his microphone. His
game requires players to

1984 General
Election

make up stories about photo-
graphs drawn at random
from a deck.

“It's a way of realizing that
other people are seeing
things entirely differently
and that we have to com.
municate,” he said. “It de.
velops a tolerance for ambi.
guity and novelty.”

HELPS TIE SHOES

Lesley Bandar of Cam
bridge devised a foam card
the size of a credit card that
slips over the top of chil
dren's shoes to guide them
through the process of tying
their laces.

“I came up with it because
my three-year-old was too
embarrassed to go swimming
at camp because he didn't
want to let someone he didn't
know tie his laces,” Bandar
said.

Jeffrey May also was in
spired by personal necessity
when he looked one day at
the residue at the bottom of
his soap dish and decided he
wasn't going to take it any.
more.

So May went to work ona
better soap dish, and came up
with a plastic contraption
with holes for drainage.

Summary of Election
the Federal Electoral L
Kootenay West

mathematician from Boston
The computer is program

The fair also includes more
profound inventions, like the

talking computer designed med to speak words as they
by Peter Duran, a blind are typed on the keyboard
MES SAREE ROS 1 :

Giant burger
feeds a dozen

WARDNER, IDAHO (AP) — When it comes to
hamburgers, the Shady Lady Saloon in northern Idaho
concedes an ounce of beef to no one.

Wes’ Shady Lady Burger, named after creator and
tavern owner Wes Aamodt, is so big jt is served on a
pizza pan.

It consists of five pounds of beef garnished with 16
slices of cheese, a whole sliced onion, two tomatoes, a
layer of pickles, a mound of lettuce and the buns, which
are 16 inches across and barely fit on the tavern's widest
pizza pan. The $22.50 sandwich is about four inches thick
and weighs more than 10 pounds, says Aamodt

Aamodt cooked his first giant burger a few months

ago, as “a gag on a gal who was just trying to rib me”
about not getting enough to eat from his regular quarter.
and half-pound burgers.

The Shady Lady Burger, which easily feeds a dozen

groups.

Aamodt isn't worried.

“Nobody has eaten it all yet,” he said
anybody has come to
That's about a pound.”

ting it all has been two slices.

CANDIDATE
Bob Lyle Jean
. Brisco Kristiansen Turnbull
P.c N.D.P Liberal
Official Agent B. McDonnell | C. Culpepper | H. Bondaroft
Number of Contributors 386 298 80
Contributions s 48,122.60 37,306.00 13,768.43
Election Expenses Paid s 41,436.47 38,578.88 13,164.33
Unpaid Undisputed Claims sl] : ;
Unpaid Disputed Claims $
Total Election Expenses $s 41,436.47 38, 578.88 | 13 164.33
Deduct: Personal Expenses of Candidate $| 4,419.07] 2,620.76 1,095.53
Total Election Expenses Subject to the Limit $ 37,017.40 35,958.12 12,068.80
Permitted Limit of Election Expenses s 37,752.53 37,752.53 37 752.53
As Audited by
Gordon Mork
A. Read McPhail Culver
CA CA CA

The complete return respecting election expenses for each of the above candidates
may be inspected by any elector at the office of the Returning Officer

NAME Helen G. Feirbomk (Mrs.)

[APPRESS 1810 Ridgewood Road, R.8. No. 1, Nelson, B.C. VIL 5P4

a

‘anada Elections Act

Published by the Chief Electoral Officer of Canada pursuant to Section 63 of the
c

people, has proven popular for birthday parties or |
The burger is free if anyone can eat it all, but |

‘The closest 4

The plans are enormously popular — Bell's dividend

shares. For Bell Canada shares, you merely sign the back of
the stock certificate, have that signature guaranteed by a
bank trust or and sell the
stock, either through a broker or privately.

“There are very few drawbacks with these plans,” says
Wood Gundy’s Hirasawa. “However, these companies do not
give advice like an investment house. They will not give
advice as to whether the shares of that particular company

. .

YOUR SATISFACTION
IS OUR MAIN CONCERN.

2 CONVENIENT LOCATIONS TO SERVE YOU .
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Spousal RRSP can help

By EUGENE ELLMEN
The Canadian Press
While many working wives
may not earn as much as
their husbands, there's a fea
ture of the registered re

tirement savings plan that
allows married couples to
equalize their incomes at

pension time.
Called the spousal RRSP,
the feature permits higher

income spouses to deposit

money in an RRSP regis
tered in the name of the
lower-income husband or
wife.

And odds are that it will be
the wife. Latest figures from
Statisties Canada __ indicate
that women with university
degrees earn an average of
$21,005, compared with
$31,179 for men with univer.
sity education. For women
with high school education,
the figure is $12,756, com.
pared with $20,129 for men
with high schoo! diplomas.

Like any RRSP, a spousal
RRSP enables the contribu-
tor to claim the RRSP pre-
mium as a tax deducation and
the money in the fund ac
cumulates tax free.

“It’s a great income-split
ting technique,” says Tony
Anderson of PerCor Finan.
cial Consultants. “It puts
assets into the person with
the lower income. The goal is
to equalize income at re-
tirement.”

SPLIT TAX LOAD

Aderson Says couples
should aim to equalize their
income in retirement to split
the tax load more evenly be.
tween husband and wife.

For example, suppose at
retirement a husband collects
a company: pension plan,
payments from a personal
RRSP and other investment
income, and his wife has a
simple RRSP. The wife could
be earning so little income

Massive mall
for Burnaby?

BURNABY (CP) An
Edmonton company says a
$325-million shopping mall it
wants to build in this Van
couver suburb would create
nearly 4,000 permanent jobs
and boost the municipality's

tax take by up to $8.5 million
a year
Burnaby Ald. Don Brown

said he will never approve
the project and he is sure
other council members will
continue to oppose it as well.

Triple Five Corp. of Ed
monton wants to build a mall
the size of its West Edmon.

ton Mall on property now
owned by B.C. Hydro and
B.C. Transit

Hydro property agent Noz
Maeno said an agreement for
the sale has been drawn up

“

for Hydro’s half of the 22
hectare site. But the sale is
subject to Triple Five getting
the site rezoned to allow a
recreation-tourism -commer-
cial complex.

Also, Maeno said B.C.
Transit must turn its half of
the site over to Hydro “to
facilitate the sale of the total
property” to Triple Five.

Brown said council has told
Triple Five it has no inten
tion of lifting the industrial
use-only designation from the
site.

Burnaby municipal mana
ger Mel Shelley said the
property is “a substantial
hunk of land to flip out of an
industrial setting when we're
trying to use all the indus
trial land we have.”

that she pays no taxes while
the husband is hit with a tax
rate of 35 per cent or more.

While spousal RRSPs a:
good deal in retirement, it is
important to remember that
contributing spouses are still
limited to normal RRSP con-
tribution limits.

Revenue Canada rules stip
ulate that each taxpayer's
total annual RRSP contribu-
tions may be no more than 20
per cent of his or her earned
income to a maximum of
$5,500 a year. If a taxpayer is
a member of a registered
pension plan, the limit is
$3,500 minus contributions to
the pension plan.

LIMITS SAME

This means that your total
yearly contributions are lim.
ited to $5,500 or $3,500 (de
pending on whether you are
pension plan member), re.
gardiess of how you divide
them between your personal
or spousal RRSPs.

Anderson says couples
should aim to equalize their
income so the lower tax rate
enjoyed by the lower-income
spouse is spread across the

retirement income of both
spouses.
But, he says, couples

should be flexible in how they
contribute to spousal RRSPs.
Major changes in income or
assets could alter how con
tributions are made.

For example, if the wife
inherits a large estate, it
might make more sense to
open a spousal RRSP in her
husband's name because

ez
COUNTRY
COACHALINES
7 he

even though she is still
earning less salaried income,

her total income will be
higher.
However, financial com-

mentator Brian Costello has a
warning: make sure you have
a marriage that is on a good
footing before putting money
into your spouse's RRSP.
BELONGS TO ONE

That's because contribu-
tions to a spousal RRSP be-
long to the spouse in whose
name the plan is registered.
If a husband has been con-
tributing to his wife's spousal
RRSP, and they split, the
wife is entitled to the RRSP
fund.

The contributor could also
suffer tax shock. Any con-
tributions withdrawn in the
same year together with
withdrawals equal to contri-
butions for the two previous
years will be added to the
contributor’s tax burden.

A husband could face a
huge tax bill in the year his
wife collapses the spousal
RRSP to which he was con
tributing.

An exemption to this rule
was granted in the Nov. 8
economic statement by Fi-
nance Minister Michael Wil-
son. The exemption is for a
marriage breakdown, in
which case the withdrawal
will be taxable to the plan-
holder, rather than the con
tributor.

But Anderson still agrees
with Costello's advice: “You
should make sure you have a
solid marriage.”

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