+

A6é CASTLEGAR NEWS, October 25, 1981

BCRIC shares have fallen

By Vic Parsons

VANCOUVER (CP) —
Once a Pied Piper that lured
hundreds of thousands of
new investors into the stock
market, British Columbia Re-
sources Investment Corp.
now is a fallen idol that
leaves many muttering sadly
over daily stock listings in
the business pages.

The dazzling future pre-
dicted for the corporation by
creator Premier Bill Bennett
and others, including some
stockbrokers, has not yet
come to pass. Disgruntled
shareholders who have stuck
to the stock are being ad-
vised by company executives
to have faith.

Nearly three years ago
Bennett, searching for a
vote-getter in a tough up-
coming election campaign,
pounced on a giveaway of
five free shares of the Crown
corporation to each eligible
British Columbian. His gim-
mick was successful, and so
was an accompanying sale of
additional shares which
brought the company $460
million in cash.

But now, with shares de-
pressed because of lack of in-
vestor confidence, a slumping
forest industry and high in-
terest rates, the corporation
could prove to be the biggest
albatross around Bennett's
neck when he tries for re-
election, likely next year.

The company, with an
estimated $1.7 billion in as-
sets in B.C.'s coal, forest and
natural gas industries, has
plunged to record lows in re-
cent weeks, hitting as low as
$3.45, down from its issue
price of $6 and its high of
$9.15.

As with all stocks, the cor-
poration, known to most in-
vestors as BCRIC, has had
winning and losing share-
holders. But lately there has
been little to keep the faithful
— many of them in so deep

that they can't afford to seli
— happy.

COME UNDER FIRE

President Bruce Howe and
chairman David Helliwell
come under the gun at share-
holders’ meetings they have
bee holding around the prov-
ince. The grumbling some-
times approaches a fever
pitch, although at last
spring’s annual meeting in
Vancouver they handily won
a vote of confidence over &
challenge by a group of dis-
sidents.

Mearwhile, the Skid Row
denizens who sold off their
five free shares for $20 or $25
shortly after they were is-
sued in August, 1979, may
well be chortling into their
beer.

A few, like the teacher who
mortgaged his house two
years ago and bought 10,000
shares at $6, then turned
around three weeks later and
made a $30,000 profit, have
done well by BCRIC.

But there are thousands
who have to grin and bear it
while waiting for a devel-
opment that will make the
stock desirable again.

There are people like the
retired man who complained
bitterly to Howe at the last
general shareholders’ meet-
ing that Bennett had advised
everyone to “buy BCRIC and
take a holiday.” He said he
hadn't had a holiday since.

And there's the doctor who
invested thousands of dollars
in BCRIC b held on “out of
greed,” he says ruefully,
when the stock peacked at
$9.15. Later, he was forced to
sell at a substantial loss.

BCRIC, perhaps because of
its political nature, has in-
spired a multitude of gim-
micks,

STUCK WITH LOSS

Pharmacist Ike Gaynor of
Vancouver advertised at his
two drug stores he would buy
shares from customers. Now

Foam insulation
figures updated

OTTAWA (CP) — Perhaps
40,000 homes were insulated
with urea formaldehyde foam
under grants from the Can-
adian Home Insulation Pro-
gram, a federal board of re-
view was told.

Neil Stewart, manager of
operations at CHIP’s main
office in Montreal, said the
federal program did not keep
records of specific types of
insulation used in homes that
qualified for grants.

However, he said grants
involving all kinds of rigid
insulation were made for
nearly 51,000 homes from
1977 through the spring of

Chinese
deny sub

explosion

PEKING (AP) — The Chi-
nese foreign ministry has de-
nied that a submarine ex-
ploded during a missile test
and called the reports “sheer
fabrication,” the China Daily
reported. Foreign military
sources said last week a
non-nuclear submarine ex-
ploded in the North China
Sea in early September dur-
ing an attempt to launch a
missile and all 100 people
aboard were killed.

1980, and his best guess is
that 80 per cent of these jobs
were done with the foam,
which has since been banned
from use as a health hazard.

The “guestimate” offered
by Stewart is considerably
higher than the equally
rough figure of 25,000 homes
given in the past by federal
officials.

The total number of Can-
adian homes in which the
foam has been installed —
either with or without gov-
ernment assistance —is not
known. But estimates have
ranged upwards from 80,000.

The foam was banned
under the Hazardous Prod-
ucts Act last December as a
possible health hazard. The
board of review was set up
earlier this year, at the re-
quest of the insulation in-
dustry, and has been hearing
evidence for and against the
ban.

Under CHIP, the federal
government offered grants of
up to $500 to owners of older
homes and apartments as a
way of encouraging energy
conservation.

Stewart said CHIP officials
were concerned primarily
with the proper use of the
grants. About five per cent of
the homes were inspected to
make sure the money had
been properly spent.

he holds 20,000 shares and
estimates he is losing $600 a
month in interest which could
be rolling in if his cash had
been sunk into term deposits,

But he's hanging on
through the doldrums, “I'm
hoping it won't be all in vain
and will hit the $8 mark.”

Gaynor saw a way of turn-
ing a profit by buying BCRIC
stock from customers at $1 to
$1.25 below the stock market
price. He bought as many as
600 at a time.

Yinnie Lim, a Victoria res-
tauranteur who offered a
Chinese food buffet worth
$5.95 last spring to people
who wanted to cash in the
stocks, has dropped his offer
because BCRIC is'so low.

“We bailed out when it hit
a low of about $4,” says Lim.
“I think I bought my last
share at $4.25."

He holds 3,000 shares. He
too is waiting for the market
to go up.

Among those who have
asked for donations of the

shares are the Anglican
Church in Victoria which
plans to sell them to raise
money for its new wing at the
back of the local cathedral.

Other groups, including
the New Democratic Party
opposition which has been
ambivalent on the share
giveaway, have appealed for
supporters to donate shares
so they can raise economic,
social and environmental is-
sues at shareholders’ meet-
ings.

‘UNIQUE’ CHANCE

Much of the fallout of
shareholder dismay at
BCRIC's performance drops
on Bennett, who is announc-
ing the share giveway and
sale described it as a “unique,
once-in-a-lifetime opportun-
ity.”

“Too many of our citizens
are content to put their
money into savings accounts
instead of investing directly
in the province's growth,”
said Bennett, adding he
would personally buy as

Exchange
seeks more help

Volunteer Exchange

Release

The Castlegar Volunteer
Exchange has a new co-
ordinator, Sandy Reilly.

Ms. Reilly sees the role of
the Volunteer Exchange as a
two way channel for people in
the community. There are
people or organizations in the
community who need help in
areas such as; transporta-
tion, visiting, muscle power,
child care, etc.

Then there are people who
want to volunteer their time
to help those people in need.
This may require a time
committment from a volun-
teer of two or three hours per
week.

One of my roles as the
co-ordinator is to match up
the need of a client to the
talents and skills of the vol-
unteer. At this time, how-
ever, there is an imbalance.
We have more requests for
volunteers than those vol-
unteering, especially volun-
teer drivers.

“I would like to suggest
that if you are sitting on a
vast resource of time, talent,
or energy, to bring that into
our office or call us at

SANDY REILLY
++. coordinator

365-2412 and we will assist
you in channeling your re-
sources.” :

Our many thanks for the
support and contributions
from the United Way Cam-
paign and our sincere wishes
that this year's United Way
Campaign is a success.

The Castlegar Volunteer
Exchange is located at 1215
3rd Street. Office hours are
10 p.m. to 2:30 p.m.

from

many shares as he could af-
ford.

To those who believed in
Bennett, it now seems like a
gigantic hoax, especially since
the premier has wahsed his

hands of the company's af-.

fairs,

Even members of his own
party are unhappy. At a
coming Social Credit conven-
tion, one of the proposed
resolutions calls for an in-
vestigation of BCRIC’s de-
cisions and activities.

Howe, who went from the
presidency of solid forest

glory

giant MacMillan Bloedel Ltd.
into a hornet's nest, tries to
soften the blow to share-
holders at meetings.

“I'm in the same degree of
pain as everyone else,” the
44-year-old Howe said re-
cently, revealing he had
bought 10,000 shares at $6,~

Howe's message to the
disgruntled is to hang tough
and wait for better times. .

“People who are patient’
investors and have a willing-
ness and the interest to
watch us grow will get a
handsome return.”

New anti-smoking
cure pin-pointed

A new anti-smoking acu-
puncture point has, been dis-
covered by Dr. James Olms,
a Toledo, Ohio, general prac-
titioner and acupuncturist.

Stimulation of the point
for only 15 minutes has
removed the desire to smoke
in 75 per cent of the 5,000
people who have tried the
treatment, says Olms.

Olms, who has been prac-
tising acupuncture for 13
years, discovered the point
about 10 years ago while
trying to give himself acu-
puncture relief for a persis-
tent cough.

Dr. Olms, who had been a
two- to three-pack-a-day smo-
ker for nearly 40 years, was

ised when he I:

However, Dr. Floyd Mc-
Kibbin, an eminent Canadian
acupuncturist, says it is
known that stimulation in
this general area can produce
unpleasant taste sensations.

- He suggests that memory of

these sensations may con-

tribute to the loss of interest .

in smoking.

The 25-per-cent failure
rate, Olms said in an inter-
view, includes about one
smoker in 10 who cannot be
helped by acupuncture of any

Olms has used ear and nose
acupuncture for smoking, but
has found the effects much
less reliable than the new

lost interest in smoking. |

The point, just above ¢he
wrist, is only two or three
millimetres in diameter and
has aparently not been re-
corded on traditional acupun-
chure charts.

Although he has practised
his technique for 10 years, his
first description of it was
published only this month in
the American Journal of
‘Acupuncture. *

October is

Volunteers

Door to Door This Year;

a self-address
mail in contributions.

Did You Know?

United Way Month

ARE NOT
BEING ASKED to Canvass

We are using the convenience of
velope for

Help Support

the

United Way
Mail Your Contribution By Oct. 31

if 7 VERSATILE “Bob

orth

Frust.

Member: Canada Deposit Insurance Corporation

5)

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Unmentioned ‘food for thought’

Editor, Castlegar:

A public meeting based on
“if? was recently held to
inform Robson/Raspberry
residents of the glamor new
development would bring to
this area. As long as we have
to dig deep into our pockets,
there are the unmentioned
‘food for thoughts’ they
aren't telling us, to think
about.

Before our land can be
freed for subdividing, the de-
velopment of a second Rob-
son Road “should” be put
through. It seems to me res-
idents have been knocking
their heads against the pro-
verbial brick wall for the past
25 years for this. Instead,
Broadwater Road was wid-
ened for the ‘jet set’ to spin
donuts, see who could rev
their engines the loudest,
smash up their cars and kill a
few residents (many of these
are not Robson youths, they
come from other areas). Not
to go without mention ‘is the
instant lake that is id

the second road for another
possible 600 families improve
this situation or provide a
mini-Indi racetrack? For
those interested in subdivid-
ing is the 6 per cent of the
land taken towards recrea-
tion (or money in lieu of) on
the whole area of land or just
the subdivided area?

The engineers come in and
sell us the fact that there is
ample water in the logged-
out water shed of Pass Creek
for present and future
growth of this i

like cord wood — all con-

tributing their own flavor to’

Pass Creek — but don't fret
residents after the ultra-
violet rays get to it they say
it's “good stuff”

Another alternative water
supply is the Arrow lakes. A
good source of water, that
would ensure an endless sup-
ply for many years to come
and is one of the last sources
of good drinking water. How
unfortunate more informa-
tion wasn’t available from the

nothing in the line of rec- unruly classes and lack of

reation facilities for it's
youth, unless all parents are
willing and have the time to
transport their children to
Nelson, Castlegar and Trail.
If they play at the local school
ground, they are all blamed
for the vandalism that contin-
ually goes-on there.

Let's face it Robson res-
idents, because of the lower
taxes on this side of the river,
it attracts the medium of
lower income bracket and

ient famlies. Are the

Forty years ago, the very
sparcely populated area and
unlogged water shed allowed

drinking water and
ample irrigation, however,
“progress” hit this area and
more people populated the
Pass Creek area who have
septic tanks which inevitably
drain to the lowest area —
into Pass Creek, who have
animals wandering in and out
of the creek and who on the
hot summer days bathe

“If we develop this area,
we need a sewage system!
Great! — for a ball park
figure of $800 per family for
the next 25 years we can
hook into Castlegar’s lagoons
and bring them up to their
full working potential — “if”
Castlegar allows us. Progress
is inevitably going to hit this
area again with Murphy
Creek Dam. “If” Hydro keeps
alevel of 1402 feet behind the
dam we will have the lagoons

for us to drive through when
it rains. Guess we just have
to put up with “they don't
make things the way they
used to.” Will the addition of

in our tual
drinking water. Within ano-
ther 40 years more families
will undoubtedly move to the
Pass Creek area till we have
homes stacked in the area

Another park
_to police?

0 News:

I was interested to read
the: headline entitled “Riv-
erside park planed for city”
Oct. 14 Castlegar News. Es-

when your readers
get to the back of the paper
and read John Charters’
column on the defacing of the
Zuckerberg home.

Practically every week in
your paper, there are reports
of vandalism to at least one of
our local parks. Living across
from Kinsmen Park as I do
and seeing it. vandal-

pirks, and ¢reater surveil-
lance ‘by the police.

I can't help but wonder
how long it would be, before
a lovely new “Riverside
Park” would be knee deep in
broken beer and wine bot-
tles, general litter and its
“floating bridges” defaced by
graffiti and four letter words.
That would certainly make a
memorable impression on
visitors.

“Bouquets” to the “park
crew” who despite seemingly

tbl

ism, broken glass, general,

litter and the almost constant
defacing of the Russian Hall,
I wonder if our money
wouldn't be better spent on
more lighting for existing

keep the park in good co!

2on:__ lagoons:
dition, “brickbats” to those’: have ‘you reaily-thought of '

who cause the damage.
Sherrel Koreen
215 9th Avenue
Castlegar, B.C.

Was opposed
to library site

Editor, » News:

In his letter regarding the
library Mr. Harry Tsylor
does not go far enough in his
remarks regarding the pre-
vious referendum. bas

In the referendum we were’
asked if we approved the
building of a new city hall,
plus court house plus library,
st a designated location, at a
certain cost.

I voted No in he refer-
enudm not becaue I was
against a library (I think we
need a new one) but because
I was opposed to the prop-
osed location.

Inthe way the total ref-
erendum was presented it is
inevitable that those two
were opposed to a new
library would vote ‘no’, pre-
sumably because of the cost.

Since it now appears that

Truckload of

eat Moss

2cu. ft.

the question of a new library
has become a separate issue I
suggest that a referendum be
; now drawn up and presented
x A city i
‘Roars 7
* © J'fould like to point to Mr.
Taylor in the strongest pos-
,sible terms that Mrs. Com-
mand ‘has every right to try
and influence other voters
with her ideas.

Bob Rivers
702 - 10th Ave. Castlegar

.Western

Winning Western numbers
for the Oct. 21 draw for
$100,000 are 2480209,
8072796, 4124942, 2026585
and 1744781.

Numbers for the $10,000
prize are: 2142120, 8768760,

P oif the newly
developed lake by a dirt wall.
Everyone is horrified at the
mention of dropping the raw
sewage into the Columbia,
but the experts tell us there
will be no, or minimal, seep-
age into the Columbia from
the lagoons “if” the water
level is maintained equal to
that inside the lagoons. Is
Hydro going to maintain a
steady level behind the dam,
or maybe we will be lucky, it
will seep into the shallow
newly flooded Waldies Flat
and the mouth of Pass Creek.
Yet B.C. Timber dumps its
waste into the Columbia
every day, but we are pro-
hibited from criticizing that
item! Another point “if? we
join regional district and “if”
we get started now and have
this sewage system in pro-
gress (or completed) before
Hydro comes in, it will be
Hydro’s responsibility to re-
place this system “if” the
water level is higher than the

f Again great, but
who is going to pay for it —
Hydro — or you, indirectly
through higher taxes? It’s all
very easy to take from Peter
to pay Paul. Isn't the $5.6
billion loan from the U.S. at
approximately $1 million per
day in interest enough for
you? Why compound this by
passing the buck like every-
one else. -

Robson has problems
enough with vandalism, due
to many idle hands as it is.
We all know that police pro-
tection is at a very low

minimum because crossing }

the river takes time. Are.
there. going to be fewer
problems in this area if we
increase the population? Will
we have our own police de-
partment or vigilante group
to curb this? It’s much easier.
to close our doors and not get
involved — till it happens to
you. Robson literally has

Numbers

3178818, 3126281 nd 3788519,

Last six digits win $1,000; -

last five digits win $100; last
four digits win $25 and the
last three digits win five
dollars’ worth of Express

young families just starting
out with their ‘sky is the
limit’ mortgages financially
able to hand out another $400
- $500 per year to pay fora
ball park figure of $3,500,000
sewage and water improve-
ment‘to bring in another 500
families? Is there an un-
written intee = some-
where that interest rates will
drop to even 15 per cent or
lower?

The school district is al-
ready screaming poverty
now budget cuts. Our local
school’s district is already
screaming poverty now with
budget cuts. Our local
school's classroom sizes have
been and will undoubtedly
continue to be pushed over
the maximum. Teachers are
tearing their hair out at the

not to

Ji

To hold

CASTLEGAR NEWS, October 25,.1981

fashion

show on Nov. 4

The South Slocan Hospital
Auxilliary d in

and at the same time the
usual were made to

September, and has had two
very active months, Several

Le

mention the lack of learning
conditions. With the in-
creased population, are these
classes going to-be less popu-
lated — or shall we stuff
these extra children into
classrooms like sardines and
hush up about it lest we be
labelled disturbers?

For the past 70-odd years,
Robson's children have pop-
ulated an uninsulated, fuel-
gobbling, fire trap! Whose

b and the A
attended three special meet-
ings; the regional in New
Denver, the annual general
meeting of the Kootenay
Lake Hospital and the presi-
dent-secretary luncheon. De-
tailed and interesting reports
covering these events were
given at the October meeting
by Estelle Barton,

‘The summer investment
program grossed over $700,

children will be elected to die

in the panic when that build-
ing does go? Yes, that is a
very gruesome thought, but
nevertheless a possibility.
How many of the parents
with young children have
talked to the people in the
fire department? But don't
make waves parents, it’s only
your children and your tax
dollars at stake!. Build addi-
tional classrooms you say?
Great idea, but in the history
of this school district have
you ever known it to provide
the necessities till years after
it is needed?

An election is coming up,
the politicians are out with
extended palms — think long
and deep before you salve

No mail
deliveries
Nov. 11

Postal facilities throughout
British Columbia and the
Yukon will be closed on Nov.
11 in observation of the
Remembrance Day holiday.

There will be no mail
deliveries on’ this holiday.
Special delivery service will
be maintained where pro-
vided.

Street letter box collec-
tions will be made ‘on a “Sun-
day Service" basis.

Full postal service will re-
sume Nov. 12.

the baby case.

At the October meeting
the fashion show was organ-
ized. The annual event was
set for Nov. 4, at number
three plant hall. Following a
sale of crafts and baked
goods, June Dolman fashions
will be featured. The theme
of the evening is “Harvest
Home,” and to add to the fun
several door prizes will be
drawn, and the winners of
the summer investment con-
test will be presented with
their awards.

The next meeting is
planned for Nov. 5, at No. 3
Hall. iy

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i William J. Dudley, L.A.
= 365-5702

better traction and wo!

Sale Ends Sat., Oct
EK

SAVE $10.
TRACTION POLY

Extra traction polymer tread
Improves ice traction for comparable perfor-
mance to studded snow tires in starting.
é Polyester in four full layers cushions the ride”
and provides a strong carcass without annoy- F;
ing cold tire thump. Tread is wider, deeper for tance. Agg pi
/-free performance in makes for self cleaning and excellent traction.
the worst winter conditions.

31. HURRY.
EAS

Ss

\

_ SAVE $10.
STEEL RADIAL

A
sacrifice in tread life.

ing with studs but with no
Polyester cord/double
steel belt construction provides minimal roll-
ing resistance, flexible shock absorbing side-
walls, improved bruise and puncture resis-

- Save $12. |
H.D. TRACTION

This new, three-rib all purpose traction tire is
now available in heavy-duty sizes and low-
profile commercial tubeless. Ideal void-to-lug
ratio maximizes winter traction qualities.
Where “getting through” is all-important; in
sand soft surface condi-

area:
tions, the H.D. Traction is made to order.

ds Sat., Oct. 31. HURRY. Sale Ends Sat.,

REG. O.K.
SELLING PRICE ;

szeesases &

REG. O.K.
SELLING PRICE

SIZE
P155/80R13

/TERISYE)
aealste)

ive :
Until Oct. 31

Lime

ALL BI le ae,
donor V

Here’s the one to beat! Snow Beater Sale
values on three of the best sellers from our
premium Brunswick line. And we mean value
three ways! Top quality tires made exclusively
for O.K. Tire by B.F. Goodrich, one of
Canada’s leadi U

doilar savings on a full range of sizes. Expert
Installation and service from the tire special-
ists at O.K. Tire. All togetter at these Snow
Beater super savings. But only for this limited
time. And only while supplies last.

SALE ENDS OCT. 31, 1981

In your neighbourhood, see:

OK TIRE CASTLEGA

2701 COLUMBIA AVE.

365-3433

UNDER NEW MANAGEMENT