4 CASTLEGAR NEWS, Thursday, Oct. 4, 1962

Power Market
Studies Underway

Confidential international talks
and market studies that could lead
to early development of the migh-
ty Columbia are already under way.

This was disclosed following
the throne speech announcement
in Ottawa Thursday that the fed-
eral government will seck carly

U.S, Senate,

And, in Portland, Ore., Charles.
Kinney, assistant Bonneville Pow-
er Administrator, said internation-
al studies to sell Columbia power in
the U.S. are now being carried out.

The Ha studies in the Pac.
ifie mbrai aces

‘The biggest news in the throne
speech, as far as the Vancouver
financial and investment com-
munity was concerned, was the
statement that the Columbia

gain of 25 cents, closing at $5.75.
The company has a brewery at
Creston and a. good share of the

Columbia Jumps Some Stocks

lumbia project, who should benc-
fit include Western. Canada Steel,
Ocean Cement, Lafarge Cement and

interior B.C. market.
crews are expected to taver a glass
of ale.

Anoth ted

treaty will soon be ready for Parl.

iament and that the

favors export of electric power.
As fragments of the speech

came over brokers’ news wires, the

treaty for the river,

Power De.

Construction of three dams
on the Columbia: hinges on long-
term contracts to sell downstream
Generated electricity in the Unit-
ed States.

5 \ %
Washington sources revealed
top - level with Can-

of the phe snes
and Victoria.

Kinney said the alm is to learn | ¢
if the U.S. will be a customer for
the downstream benefit power and
how much will it pay.

According to .B.C,. figures,

ada on the treaty are under way.
is already ratified by the

B of M Gets
Top Rating For
Advertising

Top rating among Canada’s
eight chartered banks has’ been
given to the Bank of Montreal for
its advertising, according to a sur~
vey of financial advertising con.
ducted by Vincent Edwards and
Co., New York,

The B of M also ranks sixth a-
mong the 15,000 banks in North
America, a3 reported in the annual
“Bank Ad-Views” review of Cana-
dian and U.S. financial advertis-
ing.

“The Bank of America (San
Francisco) placed first among all
North American banks.

With the exception of only
three years in the past 17, the B
of M has been rated first among
Canadian banks in the “Bank Ad-
Views” survey and has received a
“Socrates Award” each year, In
1946 and 1954, the bank ranked
first in North America and receiv.
ed the “Socrates-High Award of
the Year,”

IHSURANGE

For All Your
INSURANCE AND
REAL ESTATE NEEDS
Phone 365.3441

AGENCIES :

benefits sold at five
mills would bring in $25 million a
year as soon as the Arrow and Dun-
can Lake dams are comple!

By 1970, B.C’s take would
reach a peak of $33 million a year.
‘This would then decline gradually
to $9 million a year by the year
2010. And 10 years later the dams
would be completely paid for by
earnings.

In addition B.C. would collect
$65 million in flood-control bene-
fits in the first five years of the
plan,

Cominco Brings
New Plant Into
Full Production

A new plant was brought into
Production at mid-September by
the Consolidated Mining and Smelt-
ing Company of Canada at Trail.
The plant produces thermoelec-
tric cooling materials. These are
special forms of semiconductor al-
loys which are the basic component
in a new and promising system of
cooling.

In thermoelectric cooling elec-
tric power is passed through a

thermoelectric element, ‘causing | -

heating on one side, and cooling on
the other.

Thermoelectric cooling has
many potential applications in in-
dustrial, electronic and medical
fields. Consumer use of thermo-
electric refrigerators, air condi-
tioning units aud dehumidifiers is

to date chow that, this system of.
fers advantages of economy and
‘efficiency in the smaller size of re-

Castlegar and District Project Society

CABARET

Arena Hall —

Fri., Oct. 12

9 pm. to 2 a.m.

JACK PHIPPS AND HIS BAND

(Refreshments) ;
Food and Coffee Available

$3 per couple .

No minors

Members and guests ‘may pick up their
tickets at Chevron station, BA station, Tex-

aco station, Leitner’s,

Castlegar Drug, Alex’s Barber Shop, Art

Marlane Hotel Office,

. Anderson. No tickets will be sold at the door.

ers gathered in little knots in
thels offices to chew over the pro-
spects.

“I wonder what stocks will get
the most benefit from the Colum~-
bia?” was the common question.

Then the answers started to
come up.

Since the’ Vancouver Stock Ex-
change is open for an hour in the
afternoon, after the eastern mar-
kets have closed and after the
Throne Speech was deliveréd, a
little actién showed up right away,

‘The one ‘stock that showed
some reaction was Interior Brew.
eries “B”, It ended the day as the
leader on the industrial board, with
a turnover of 2,038 shares and a

to benefit, both short and long
term, from Columbia, Is Inland Na-
tural Gas which serves most of
Interior B.C, includifg the West
Kootenay.

“The- housing required for the
construction crews should increaso

Food suppliers also are con-
sidered likely beneficiaries, The
whole benefit will back up into
Vancouver, where many suppliers
of goods and services will be alded,

A likely stock, say the brokers,
is Woodward's Stores. This com.
pany is not only in the retail bus-

y

: Kootenay Builders

 — and Suppliers — :
Complete Line of Building Supplies

and Manufacturers of Sash & Doors

CABINET MAKING
., Pierson Sashless Windows -: Glidden Paints

HARDWARE:.

bnices are getting
Mle HECK L00f,

served throughont both days. .

F-R-E-E

Pop,, Coffee, Cake and Palm ice Cream

iness, but has a wholesale arm
supplying ‘construction camps. “©

our market,” sald John
president,
“In the long term, our mar-
ket should go through the attrac:
tion of new industries to the cheap | Ee
electric power. This should Frode
not only the Rootenays, but up as
round Vernon and Kamloops.
Possible suppliers to ihe Co-

Export of Power,
Downstream Safe

HOUSING HINTS

Are Said Different

British Columbia . members

Q. Is it possible to make ‘ad-
ditional payments against the prin-| ©
cipal of an NHA mortgage?

‘A. ‘Yes. it is. The mortgage |°
covering the NHA loan gives the
borrower the right to pay the.fult
balance owing on the loan or any
part of it after regular monthly
payments have been made for three
years.

In addition, payments equal
to 10 per cent of the original loan
amount can be made against the
principal on the 12th and 24th in-
stalment dates.

The lender may request a
three month interest bonus,on all
such. amounts paid against princi-
pal. However, he can waive this

of the federal cabinet last week

claimed there is a difference bet-

ween export of power and the sale
f “downstream benefit power.”

One paragraph in the throne
speech says the government hopes
to go ahead with ratification of
the Columbia treaty.

Another paragraph says the
government has decided to encour-

age long-term exports of powe!
This is clearly a reversal of trad
tional policy.

But ‘External Affairs Minis-
ter Howard Green said a distinction |
is drawn between the export of
power actually generated ‘in’ Can-
ada, and the sale of downstream
benefits which are power generat~
ed in the U.S. as the result of de.

payment above those for
in the mortgage, if he wishes.

old Age Security
Plan Net Prime
Need: Insurance

More urgent needs should be
met before Canadians experiment
with adding. another program for
the aged on top of our old age se-
curity plan, Canada's Life insur-
ance industry urges.

In its new Dooklet,, Old Age
Security - Some Questions and
Answers, The Canadian Life In-
surance Officers. Association ar-
gues strongly against recent propo.
sals for an additional compulsory
pension plan, particularly one mod-

B | elled on the United States govern-
‘ment:

pla
staduated ipenetits:

Instead, says the CLIOA, we
should sve, fire priority” in any
welfare speriding to providing help
without a means-test to perman-
ently disabled persons and widows
with dependent children. i

:The booklet’s survey of gov.
ernment .programs for the ‘aged
covers what Canada, the costs’ of
present and proposed plans for
Canadians and programs for sur-
vivors and disabled.

It also comments on portable
pensions legislation proposed in
Ontario.

“In comparing the Canadian and
U.S. programs for the aged, the
CLIOA booklet points out that
while the U.S. Social Security pro-

@)gram has brought desirable bene-

fits to many Americans, it is not
as fair, as easy and inexpensive to
administer or, indeed, as benefic-

ial-as Canada’s current plan.

‘|sale of Cxport Powel: power.”

on the ian sec

tion of a river, 8
“Power. export and down-
stream benefits are two complete-
ly different . questions,” Green
said. “No downstream benefits are
involved in the broad | scheme of

Planes s Diverted
From Here As.
Kirstrip Blocked

CPA’s west-bound traffic was
diverted to Penticton and Castlegar
airport. officials: worked - past mid-
night: clearing’ the runway after 2
Calgary Canso water. bomber made
a_forced’-landing on Wednesday
afternoon: of last week.

Alec Davidson and. James Loug-
heed had been demonstrating for
the B.C. Forest Service: and had
finished making one drop when it
circled the field to land.

The right wheel carriage had
failed to lack in positio:

The craft siidded. Tagrons the
runway injuring no one but air-
port officials estimate that dam-
age to the plane was:at least $2,000. |

A CPA plane. from Calgary

cause of the runway blockage caus.

ed by the water bomber. Castlegar,

Nelson and Trail passengers were
transported back by bus.

Looking tor sang?

240_- Ist Ave

Sally ...
Amapola .
. -

RICK’S
— Phone 365-5951
OLD FAVORITES

u. Gracie Fields
Helen O’Connel
Bob Eberly

Back in the Saddle
My Blue Heaven
Vagabound Lover
My Mammy
_ Galyway. Bay

“JOIN OUR L.P. RECORD CLUB
no obligation, no limits
Bring your needle for a check-up.

Yugoslav Folk Songs ..
. Ukrinanian Wedding ..
Swedens OJEBOKOREN Songs

Our Record Stock has never been larger. .
Drop in and browse around. |

INTERNATIONAL MUSIC
” ‘National Yugoslav Theatre

Jim Gregrasv
Birger Ojebo

Gene Austin

. Gene Autry My S

Jimmy Shand

Rudy Valley
. Al Jolsen
Bing Crosby

Italian. Alps
April in Portugal
Polish Country Wedding
Songs of Norway
Irish Favorites
Toki- Horvath ..

Kazbek Orchestra
Coro Trentino

Bert Kampfert

ds of Holland

. Jack Kolt Orchestra
Lombardo & Ruskin

Carmel Quinn
garian Gypsy Barid
Hans Conried

This 7-day Special

Your

4 Speed Record Player
10 Dated 45 RPMs ©
1 Record Brush
1 Record Cloth

Electrohome . Man.
$29.95

Germany Today ...
France’s For i

Wolfgang Sauer
Yves

10:00 |
1.00
1.00

41.95

Now 30.00

Saving $11.95

Limited Supply

MISCELLANEOUS MUSICAL SUPPLIES
REEDS — TUNING FORKS — GUITAR STRINGS
"MOUTH ORGANS — GUITAR STRAPS — PICKS
FLUTOPHONES. —

MOUTH PIECES

BONGOS

—. TRANSISTOR : RADIOS te

—. DRUM STICKS

The water bomber. piloted cby |.

had to continue on to Penticton be- |-

L
:
:

Attention: Businessmen:

A TAAATTReTERARTNEAT

ORDER YOUR PRINTED |

CASTLEGAR NEWS

Sc nn

with
: » aan INK
' CODE NUMBERS

from the

easy to buy
simple to cash:

good to keep

The: new Canada Savings Bonds

: pay 414% interest for each of the

first three years; 5% for each of
the next three years and 534%
for each of the final eight years
—an average interest to matu-
rity in 14 years of 5.11% per

year. In dollars and cents every
.$100.00 you invest will grow with *.

~ accumulated interest to $172. 50

at maturity.

You can buy a.$100.00 bond

for as little as 29¢a day, through
the convenient Payroll Savings
Plan where you work. Canada
Savings Bonds can also be
bought for cash; or on instalments
at any bank, investment dealer,
stock broker, trust or Joan

| company,

‘Theyare available in amounts

Estates, too, may buy. Tnterest

is payable annually by coupon,
or on-the higher denominations
by cheque, if desired. |

You'can cash your Canada
Savings Bonds at any. time, at
’ any. bank, at full face value plus
earned interest.

-Buy new Canada Savings:
‘Bonds ever.

Nalley’s Potato Chips
5- 39c packages... 620... eee ee

Catelli, Boz, 4 tin.

20 pairs of Nylons given away free each
day. 10 pair for first 10 shoppers fer.
9.0 00 a.m. in the morning: and, JO pairs
for, first shoppers after, $00, in the i

“FREE automatic toaster siven away j for
the largest order Friday.
: Free Plenic Basket filled with groceries
“given. away for. the largest erder,on’
2 Saturday. :

“VE LVEETA

/ ‘CHEESE
2 Ibs. .- 99

Korey ® Peanut Butter

796. Gainers Lard 7 Ibs. ie

All these Plus
Many unadvertised_

| lana :

| _ SPECIALS _

7 7 Up ° Coke, carton of 6 .

PLUS: DEPOSIT

Gres Ale, 5 ats...

PLUS ‘DEPOSIT. ie

Ice Cream, Melody 3

aa ... Qe

Bread, 2 loaves

ue ce .29¢

ay for. the
groceries’ given away for ‘the =aleras

KINNAIRD, B. Cc.

"PHONE 365-3093.