CASTLEGAR NEWS, Thursday, May 1, 1958 2 CASTLEGAR NEWS, Thursday, May 1, 1958 Diagnosing The Recession By Lewis Milligan WOLF-HUNTING IS GOOD Afternoon Reflections ~ Casilegar Financial Stafement By GLADYS COLLINSON Tam beginning to doubt ‘thoya small boy that his best friend Castlegar News Tt is the result of a runaway in- Fublished Every Thursday At Everybody is talking about Mation,» The continuel rise in or thinking about and wondering what happened to upset the appie-cart of prosperity we have been enjoying in the last ten ‘yeors. “The first thing is to locale the cause of the trouble,” says one writer on the “What we have can be traced to the Toss of our export market. We have priced ourselves out of the home market. We can’t afford to buy our own products, The export market is un- doubtedly an important factor in the of costs of and services, with the increase in taxation to provide for “free” social security, have called for more money in culation. We have inflated the currency, but in doing so we have deflated’ its value in purchasing power. We thought we were get- “THE CROSSROADS OF THE KOOTENAYS” Member: Canadian Weekly Newapapers Assn, Subscription Rate: Castlegar, B.C. L, V. CAMPBELL Publisher Member; B.C. Weekly Newspapers Advertising Bureau $8.00 per year — 26c month by carrier Authorized as second class mail, Post Office Department, Ottawa . | wisdom of my friendship with! one small § yeur old boy. Up until now we have got along to- gether just fine, in fact olir friendship has progressed stead- ily and now has reached the bud- oy buddy stage. This afternoon, realized what a mis- ting rich quick by our income of dollars, but the fact is we wete more quickly getting podrer, Not only did our dollar denreciate to fifty cents but our savings in insurance and other investments for a rainy day prov- ed to be assets, but that market has been falling + off for several years and yet our home market has been booming and there has been little unem- ployment until quite recently. ‘Why could we not have gone on buying ourselves into prosperity? The answer to that is: because we have been living beyond our means, We have been living on credit and we are up to our eyes in debt. That is nothing but the truth, and it is useless to blink at it. It is the old story of Mi- eawber: “Annual income twenty Pounds, annual expenditure nine- teen nineteen six, result happi- ness. Annual income twentv pounds, annual expenditure twen- ty pounds ought and: six, result misery.” Like Micawber, we have been living on the pawn shop, and we have little left to pawn for collaterat. ‘That is practically what the Bank of Canada told -us when it put the clamps on credit a year ago. Whether or not that was a wise thing to do, or whether the Bank overdid it, is a matter for the economists to decide. Perhaps it would have been kinder if the clamps had not been put on so hard, or wiser if they had been put on earlier and gradually. The same thing happened immediately before the slump in 1929 when the banks It might logically be argued TIMELESS TOPICS. A WEEKLY MESSAGE FROM THE CASTLEGAR MINISTERIAL ASSOCIATION by Miss F. Clemo tae I had made. 1 realized it with a tremendous shuddering, lurch in the pit of my tummy. You sce, Jimmy and I often fall into deep conversation dur- ing lunch hour, and we see eye to eye’ on a great many subjects, being careful of course, to steer clear of | Politics and taxes, This has Ied to sharing that the cure for that is te reverse the process that brought it about, but the ques- tion is: where should we begin? Economists tell us that money and credit are the life-blood of our free economy, and yet it was the economists who sug- fested the reduction of credit as a cure for inflation. That was equivalent to saying that the only way to save: the llfe of the patient was to stop the circula- tion of the blood. They resorted ‘to the old method of bleeding the patient; there was less or thinner blood to circulate and the pat- ient is now suffering from pern- icious anaemia. The obvious cure for that condition would seem to be a blood-transfusion. As I am neither a doctor nor an economist, I have no right to prescribe a remedy for either physical or economic andemta. But, as one of the patients, I have a right to my own opinion of tme diagnosis of the disease and the proposed operation to cure it, If the cause of the dis- Someone was overheard to say at the Centennial ceremony, "We are wit- nessing something that occurs once in a lifetime.” Very few if any of the early Settlers lived to see and enjoy the Centen- nial day of Thanksgiving, flag raising or beacon fires that took place across our province of B.C, \t- is difficult for the younger gener- ation to fully appreciate in this “‘jet- propelled age” the contributions of the early settlers, As we st in commemora- tion, we thought of the slow plodding, harddships, courage and vision of those who made this day of rejoicing — ONE IN A LIFETIME. Difficulties afford a platform upon which the Lord can display His power. The sin problem proved too great for man but the power of the Cross met man’s ne ‘It cost the early pioneers much to pass along the Heritage we have enjoyed these one hundred years., It cost Abraham to take that first step of Faith and blaze the trail for God, look- ing for a City whose builder and maker was God. The hardness of the way did not deter his vision. John's vision of the new Jerusalem coming down out of Hea- ven transcended the lonliness of the Isle of Patmos from where he penned under Divine [nspiration a desciption of our eternal home. Had the early settlers as- sumed the attitude, “Eat, Drink and be merry for Tomorrow we die”, or weakly eked out a meagre existence with ne mutual treasures, for Jnatenice: doesn’t care for angle worms or dead birds, It isn’t so much that these innocent, iferepulsive look- ing objects are really harmful, it is just that they don't mix too well with a hot beef sandwich, I know this, because, the other day, When Jimmy depos- ited his Iatest find down on the « | table next to my plate, it.took all the courage and ‘fortitude I could muster to set still and amile frozenly ‘at the beautiful fat angle worm he brought in for me.to admire, Luckily, Jimmy did not detect the cowardly panic T felt, After all, I'd hate him to think I didn’t like angle worms, ' espcclaily angle worms that are friendly Hke over. the when he Indian Chief or a wild west ca puncher, I am tle one privi- leged to witness these displays of hard rough. riding on a kitchen chair, or the stealthy tread of an Indian around the dining room table, I have even been allowed to examine the latest sealp dang- ling from his belt. In exchange for this vote of thought of the future where would we be today? — but they didn't fail us. What if the Lord Jesus Christ had failed to become our only foundation and Preparation for the future, not of years but ETERNITY? — but thank God, He didn’t fail, . ONCE IN YOUR: LIFETIME, you will have to make your decision HERE forET- ERNITY and where will you spend it. Your decision ‘to take Him. as your personal Saviour today will cause you to witness an experience that will find you rejoicing throughout all ETERNITY. I save up odd shaped bottles, empty needle cases .or worn out dental mirrors, these add greatly to a small boys world: of make-believe, occasionally I even find the odd chiclet or penny in my pocket, which for me, is a great burden to pack around, but for which Jimmy can find the most- amazing use. So here we are, real chums and nothing I can do about it, it isn't that I want to stop being chums with Jimmy, it is just that I don’t dare let him down. edge of my plate. T am quite aware that as summer approaches, other forms ‘of insect life will be added to the angle worms inspection. I am also quite aware that unless I become immune to panic and nausen, I.am very lkely to el- ther go hungry or lose face with my young friend. ~~ Perhaps, my best bet would be competition — if Icould find a bigger and fatter angle wonn than Jimmy, he just might lose interest in showing mé his col- lection. At least it’s worth a try. ROOMS Confectionery Special Chinese Dishes Open § a.m. to 10:30 p.m. Sat. 8 a.m. to 12:36. p.m. SETO CAFE erse was inflation, it certainly eannot be cured by further ia- flation, and that is exactly what organized labour and quack- boliticians have been insisting upon in these latter years, High- er and higher wages for less and less work, more and more gov- social sec- called for ri of over- @rafts and increased margins on stock purchases. Tt is quite easy to explain ‘how we got into this recession. urity, have bled the national ec- onomy white and weakened the individual and corporate consti- tutions. Manslaughter For In Handling Of Guns Public safety, Columbia Riv- er development, a Federal-Pro- vincial conservation fund, public access to Crown Lands and more flexible deer season, are among subjects being discussed at the first Annual Convention of the BC. Federation of Fish and Game Clubs in Penticton today. Resolutions have been pre- pared by clubs from every sec- tion of B.C, These will be brought before the delegates bet- ween periods occupied by a num- Charge ‘Asked lic lands, to a law prohibiting posting of any unoccupied Crown lands, Other access problems to he discussed will cover such things as Crown reserves on Irnds adjacent to lakes and clari- ‘ion of laws under which land may be posted with. “No Hunting” signs. Resolutions dealing with deer and big game seasons will enver such matters as open sea- sons on does and fawns and con- trol of sedsons bf Game Depact- ber of ii on the subject of fish and game con- servation, ranging from Eastern United States management ex- ment within various fame management areas so that management is put on a more flexible basis. perts to B.C. Game Department personnel. Vancouver Island clubs want an automatic charge of man- How can one possibly explain to - Corporation Of The Village Of Castlegar FINANCIAL STATEMENT CORPORATION VILLAGE OF CASTLEGAR, B.C. Exhibit A Capital and Loan Funds Statement of Assets and Liabilities as at December 31, 1957 Assets’ Cash in Bank — C.B. of C. Savings Account Land Buildings’ Equipment Streets, Sidewalks, Light Poles Due from Water Supply ‘System (Debentures) Liabilities and Investment . Debentures Payable (Owed by Water Supply System) Exhibit C. Investment in Capital Assets Balance, January 1, 1957 Add: Sale of Land & Fire Hall $19,047.41 Capital Gain on Sale Cost of New Fire Hall exceeded Ole mat Capital out of Revenue Interest Earned on Savings Account Less: Capital Out of Revenue — Water Supply System Sale of Rock Crusher — 5,952.59 25,000.00 Renvene $ 6,067.18 820.38 57,451.79 47,155.14 35,719.97 147,214.46 153,600.00 153,600.60, "9300,814.46 $113,282.01 247,92 12,517.67 5.51 37,771.18 Taxes —~ — Land and Improvements — Prov. Gov't — Home Owner Grants General Fand CORPORATION VILLAGE OF CASTLEGAR, B.C. of and Fanuary 1,-1957 to December 31, 1957 — School and Improvement District — Penalties and: Interest Licenses and Permits ~— — Trade Licenses — Dog Tags — Building Permits — Oil Burner Permits: Grants - — Federal Grant in Hei of taxes — Provincial Grant to Local Government Miscellancous- . \ “Sale of Assets M.V. Branch, Stipend Equipment Rental $18,762.14 9,464.03 $28,226.17 24,104.14 1207.05 $59,620.28 $ 6,763.50 304,00 14.00 1,054.00 27,280.08 28,384.00 $ ae 00 2,091.81 Parks Rental Civil Defence Garbage Collection and Disposal Bad Debts Recovered ‘$151,053.11 5,227.54 1 { i] { CORPORATION VILLAGE OF CASTLEGAR, BOC. g ort « Adjustment through Capital Surplus 20,295.82 ‘ Water Supply System Assets ° Cash in Bank — Operating Account | “ $ .Cash in Bank — By-law No. 113 Accounts Receivable 751.38 32,543.97 $ 33,205.35 Land, Buildings, Improvements 177,176.03 Plant and Equipment . 8,725.29 185,901.32 35,973.75 Less; Depreciation Reserve Liabilities Prepaid Water Rates Due to Capital and Loan Funds — Outstanding Debentures Capltal Surplus Balance, January 1, 1957 Add: Capital out of Revenue, Genera) Fund Add: Interest Earned By-law No, 113, $ 51,843.37 $ 2,091.81 * 644.18 2,736.99 54,579.36 Less: Discount By-law No. 113 Debenture Adjustment ‘through Surplus 5,412.00 20,205,82 25,707.82 $ 28,871.54 Earned Surplus Deficit, January 1, 1957 $ 17,557.70 $ 2,738.12 Expenditure over Revenue (Exhibit C-1) 803.59 2,934.53 1,399.05 Exhibit C $ 34,694.40 149,927.57 $184,621.97 $ 216.90 153,600.90 $ 30,806.07 CORPORATION VILLAGE OF CASTLEGAR, B.C. Water Supply System _ and of . January 1, 1957 to: December 31, ‘1957 Revenue Sale of Wat Interest and “Penalties . Total Revenue Expenditure Power Pipe and Fittings Wages, Use of: Equipment, Etc. Charges $3,167.16 3,769.12 4,398.31 Bank Debentures Redeemed Debenture Interest 5,300.00 1,568.25 -Total Expenditure Expenditure over Revenue (Exhibit C) By-law No. 113 — Water Supply System. Extension Fiscall Period ended December 31, 1957 Total Debenture Issue $110,000.00 Interest Earned 644.18 : 3 ‘ “$110,644.18 Less: Discount on Sale of Debentures (4.92%) Funds “Available for construction | $1, 1957" Deiheoins Tose Printing, Advertising, Etc. pres Couplings, Supplies, Etc. $ 1,820.00 + 467.26 51,681.11 13,657.70 Se Contrast and Use of Equipment ‘Total Construction Costs carried to Asset Account Balance, Bank of Montreal, December 31, 1957 (Exhibit C) $184,621.87 Exhibit C-1 $17,323.53 80,40 $17,403.93 6.68 $11,341.27 6,866.25 $18,207.52 __$ 803.50" Exhibit C-2 5,412.00 $105,232.18 "5,662.14 $ 72,688.21 32,543.97 $ 32,548.97 CORPORATION VILLAGE OF CASTLEGAR, B.C. Statement of Recelpts and Disbursements S January 1, 1957 to December 31, 1957 Taxes Receivable Accounts Receivable Debentures Issued, Redeemed and Interest Paid Bank Interest and Charges and Bond Discount Provincial Government — Home Owner Grants Taxes Current Federal Government — in lieu of taxes Property Acquired for Taxes Accounts Payable Interest and Penalties Trade Licenses Dog Tags : Building Permits Oil Burner Permits Miscellaneous Receipts Grants, and Donations Administration Fire Department Civil Defence Street Lights Garbage Collections sParks and ree Welfare Public Works Snow Removal Capital Expenditure out of Revenue Employees’ Payroll Deductions ‘Water Supply System Operating Accounts By-law No, 113 — Water Supply System Extension ~ - Capital and Loan Funds . Inter Account Transfers oe ‘Total Receipts Total Disbursements Excess Receipts over Disbursements Balance, January 1, 1957 4. Balance, December 31, 1957 Capital and Loan Fund a.c. (Exhibit A), 7 General Fund — Cash (Exhibit B) General Fund — Bank (Exhibit B) Water Operating Account (Exhibit C) By-law No..113 (Exhibit C) * Amount detailed under Miscellaneous Schedules (Exhibit D-1) $ 6,856.11 $ 1,321.65 25,362.51 18,347.38 $290,909.21 218,692.47 72,216.74 19,376.24 $ 91,592.98 Exhibit D 24,065.89 109.96 2,463.82 17.90 +'973.00 16,306.44* 5,245,75* 105.17 2,356,15* 4,001.03" 675.74 8,192.65* 3,204.65 1,213.27" 12,517.87 3,280.27 9,407.29 12,688.21 19,205.33 18,347.38 and Lawrence Hinemi ‘This is the third wolf this season to ‘tall to the guns of fea man, two brothers of Milton, shot on the southeastern tip of Prince Edward county. Ont It Bake Sale Nets $94.50 For Hosnifal Proceeds vf the successfirl Bake Sale held by the Orthodox Doukhobor Ladies of Ci and Kinnaird, Saturday, 19, were presented this week to the Castlegar and District Hospi- tal Society. $218,692.47 April | ¥ 32,548.97 $ 91,592.98 Red Shield Drive Staris Mav 8 Sr. Capt. A. S. Hagglund of that the Salvation Armv states the annual Re: Shield Appeat ill be conducted in the Castle~ gar-Kinnaird area commencing on May 8. This canvass will sup— plement the grant given by the KRC Welfare Society whose will not ke canvamed. The CORPORATION VILLAGE OF CASTLEGAR, B.C. Jannary 1, 1957 to December 31, 1957 Commissioners’ Indemnity Salaries : Postage, Convention and Travel Accounting, Audit, Legal « Fuel, Light, Telephone, Telegraph Maintenance and Repairs Interest and Exchange Ur; t, and We Registration Fees, Dues, Sundry Insurance, Cemetery | ' Total Administration Disbursements (Exhibit D) i — Fire Indemnities and Wages Fuel, Light, Telephone, Janitor Supplies, Replacements, Ete, Truck Operating Convention Club. Donation Total Fire Department Disbursements (Exhibit D) for purchase of Pak in the Medical Staff room, and covered f the complete invoice amount of i ac-| al Exhibit D-1 $84.50. The presentation was ac: half of the hospital. the sale said the group of ladies in -the two communities were gratified at its success and hope to put on another similar pro- ject at an early date. 4 The aim of the . voluntary but unorganized group is to raise sufficient, funds -to pur- chase the occasional chair, coffee table, and wardrobe in the Medical Staff room, in fact to supply ali its furnishings. - Winner of the chiffon cake raffled during the bake sale was a of Trail The sale was held in the Castlegar Legion Hall. While a list of members hae been supplied te the esnvzemre commen it is not alwavs possible ta mins Wl on the list as all address cepted by J. Bainbridge on be-|are not available. Where suctz duplication is made the canvas The committee in charge of |S€P8 would appreciate being w informed at the time. Mr. A. E. Norris of the Can- adian. Bank of Commerce hax again consented te act as tres- urer for the zcppeal. Donations May be made direct to the bank Note 1. . + Disbursements — Street Lights Power Supplies Wages ANNOUNCING DAILY FLIGHTS VANCOUVER Sale of Maps, refunds, Sundry 7 Total Revenue $ 1,000.00 5,098.76 19,295.33 No man with a burden of - debt hgs a right to pro- tect his creditors if he has not first protected his wife and children with Life’ Assurance. Plans to suit your individ- ual requirements may be arranged through. Proceeds to General Fund 1954 Equipment Depreciation Construction New Fire Hall Included in Construction Costs is the inventory of pipe, fittings, hydrants, ete, This inventory, reported.in the amount of $15,827.70 as at December 31, 1957, was taken by the Village Foreman and extended by the Village Dit _ c Clerk. This inventory does not include 3,000 feet of 6-inch transite pipe Wages : which was shipped in error and not paid as at December 31, 1957. Supplies ¥ Use of Equipment | slaughter to be laid where there is definite evidence of careless- ness in gun handling on the part of hunters. B.C. Interior clubs will ask that differences holding up the power development of the Col- umbia River be settled quickly in order that the river can be developed to its fullest. The same group of clubs will go on record opposing any development of the Fraser until* all other sources of power have been suc- essfully and thoroughly investi- gated. West Kooteny clubs want a fund ‘to be set up through Fed- deral and Provincial grants and ministered by Directors.of Fish and Game clubs in each Province of Canada, because it is necessary to increase the number of studies in projects-.pertrining .to con- servation as soon as possible. Pro- vincial |foyernmerit would take $1.00 from.each hunting. license and .50c’ from .each fishing Ii- cense and the Federal Govern- ment would make yearly grants equivalent to the total amount realized’ from licenses sold in each Province. ‘ Public access will take in a . Total Street Lights Disbursements (Exhibit D) $04,634.30 : 27,485.90 123,567.21 —=— ; . $300,814.46 CALGARY Beginning Sunday, April 27 1, Canadian Porific Airlines Total Garbage Collection Disbursements (Exhibit D) will make’ daily flights to Wencoures and Colgory from g was : : Ql. " “In. reference to By-law No. 113 (Water Supply System Extension) we 5 Publis Woills =—_——=| P Casti and Cranbrook. .Check the sche- dule below for departure and arrival times. certify, from information made available to us, that the costs 7 . 7 . : ; to December 31, 1957 totalling $721 0021, are ropes charges against By-law ‘ ieak Shening Chloride, Oiling, Ete. 3 ee a pi ee 2 le. Street’ Signs and Painting Cross-walks ; saeete in sp ‘Cleaning Yards and Miscellaneous Maintenance t W.C.B, Holiday Pay, Use of Equipment 1,213.27 : Total Public Works Disbursements ‘(Exhibit D) — School and Improvement District $24,065.89 General Government — — Commissioners’ Indemnity — General Administration — -— Other Protection to Persons. and Property — — Fire Protection — Civil ‘Defence — Street Lights — Snow Removal CORPORATION VILLAGE OF CASTLEGAR, B.C. $1,500.00 . 9,528.38 Exhibit B General Fond Statement of Assets and Liabilities as at December 31, 1957 5,694.95- - 16,718.33 Assets Cash on Hand Cash in Bank — General Fund Texes Receivable.— 1956 and Prinr Taxes Receivable — 1957 $ 468.07 _ 51,762.38 t the unspent balance of $32,543.87 Plus the inventory on ona $15,827." ee ‘heute be sufficient to complete this project, to of the By-law.” $52,230.45 9,919.59 773.00 : AE “""* (signed) J. E. Kraft, Chairman of the Board. rf $ 777.26 i (Signed) R. W. Cook, ser Chaim ‘Waterworks Committee, " ‘' . “ i € RC 1958 Chal s asd (Signed) A. T, Horswill, *htege Clerks 958.35 7,003.82 ——— Grants and Donations Garbage Collection and. Disp%al Community Service — — Parks and Playgrounds ‘—- Cemetery Welfare... Public Works Capital Expenditure ‘out of Revenue — — Parks - Land — Snow ‘Wages Use of Equipment Total Snow Removal Disbursements (Exhibit D) Provincial Gov't — Home Owner Grants . Sale of Assets CASTLEGAR . CRANBROOK CRANBROOK CALGARY Accounts Receivable — Account Accounts Receivable — Other 1,720.92 $62,377.06 Auditor's Report . Ihave examined the financial books and records of the Corporation of the ses st korg Account Village of Castlegar for the period from January 1, 1957'to December 31, 1957 Gees co : ; i ‘and have prepared therefrom various Balance Sheets (Exhibits A,B, C) and = otic Fixtures - 012° . of R ‘and (Exhibits ‘B-1, C-1, C C:2), Receipts and Disbursements rome its-D, D-1).7 ez ppl :! While I did fiot.'make'a detailed audit of. all transactions, I examined or *, ae ater si iy- System tested accounting records and other" supporting evidence by methods,'and to the lutions, ranging life Total Expenditure. ; extent I under the 1 all,, the inf for the year then ended. mumber oF resolu ea in Fok Robson, B.C: Revenue over Expenditure (Exhibit B)- 17,831.48 tion, and explanations I required. : Reipectfully submitted, saree 2 eee sist outdners $mastos : “passa. “Attention is drawn to the notes that form part of Exhibit C-2, Statement of . . : yee ; wis J. M. Macbeth, C.G.A. men-‘as bona fide users of pub- = a : : i —— ioe “ ; ‘ A Property Acquired For Taxes By-law No. (113, Water Supply System Extension. Hauiprocnt (Public Works, Fire Department, Parks, Office) was depreciated $5,098.76. Water. Supply System ‘was “deprectated $5,300.00. No other Assets were depreciated, In my opinion, and subject to the foregoing’ comments:and notes the, shove mentioned’ Balance Sheets and related Stat of R ture, Receipts and Disbursements,, fairly present the position of the Cepeanen of the Village of Castlegar, as at December 31, 1957 ‘and the results of its operation, Liabilities Account Payable jurplus Oick Fowler North American || Batance, January’ 1, 1957 Add: 1957 Depreciation to. . Capital and Loan Funds (Exhibit A) Add; Revenue over Expenditure (Zxhibit B-1) 2,001.81 12,517.67 $18,802.84' $ 5,098.76 17,831.46 22,030.22 $62,487.02