November 26, 1989

SCHOOL DISTRICT No. 9 (CASTLEGAR)
TO PARENTS
EDUCATING THEIR
CHILDREN AT HOME

Under provisions of the new School
porents educating their children
children

Controllers
lose
contact

RICHMOND (CP) = Air traffic

BUSINESS

sy

November 26, 1989 Castlegar News

AT

controllers lost radar contact with half
of British Columbia’ on Thursday
when workmen cut an underground
telephone cable to Vancouver airport.
When the radar went down, Interior
and eastern B.C. slipped off the screen

in School District No. 9

the District is

obliged to provide educational sup
port tor both parents and children.

further information, cull the

rintendent of Schools ot 365-
1.

for four hours.

Surprise your
Family, Friends,
Neighbors and
Relatives by
having 4 story
published in the
Castlegar News.

All you have todo
is enter the...

Sponsored by the Castlegar Public Library and the Castlegar News
W's simple to enter:
# Just write o short story

Christmas Eve whe
thought it wou

It was
'No one

of up to 200 wards beginning with the line
verything started” and ending with the line
‘ibe that Kind ef a Cheistmas

Mail or bring you y into the Castlegar Public Library or to the Castlegar
News by I'p.m. on ‘Monday December 4.

Include your name. address. age and telephone number

The Christmas Short Story Contest has been divided into 3 age categories:
ight and Under
Ages 9, 10 and 1!
Ages 12, 13.and 14

The three stories in each group chosen by the judges as the best in each
group will be published in the Castlegar News’ Christmas Greetings Tab-
loid on Saturday, December 23.

In addition, book certificates will be awarded as first, second and third
prizes in each category

CP News Analysis In other words, the rules‘are a

By GORD MCINTOSH twist on Mackenzie King’
OTTAWA (CP) — Strip clubs on conscription: a veto

may have been eligible clients of necessary, but not necessarily a

the Federal Business Development _veto.

Bank, depending on how the The bank now says it has
Crown corporation's regulations

are read LYSIS

The rules are ambiguous, as is
the bank’s reason for existence.

Under a six-year-old circular, clarified its policy to prevent
nightclubs, cabarets and similar —**misinterpretation’’ by lending
businesses are listed as ‘‘inap- personnel in thg future and believes
propriate enterprises." But the — jts redrafted policy will prevent
same rules instruct bank staff not. “‘inappropriate’’ businesses
to turn down that type of applicant _ receiving loans, such as the eight
out of hand. strip clubs cited in the Commons

“Because of the difficulty in Jast week
determining whether or not certain But recurring controversy in the
applicants may be dealt with, bran: last 10 years suggests that perhaps
ches should not decline an enquiry the mere existence of the bank
or application without first con- needs to be clarified.
sulting the regional office,” the When it was founded as the In
guidelines say. dustrial Development Bank in

's rules ambig

1944, this Crown corporation was
intended to fund small and
medium-sized businesses when no
other credit was available. As a
result it came to be known in the
financial community as the lender
of last resort.

Its charter has been basically un-
touched over the years and the
bank’s clients are supposed to be
restricted to those who can’t obtain
credit anywhere else.

In fact, the bank's regulations
say applicants must present two let-
ters of rejection from private sector
sources.

But developments in recent years
have put the bank in a Catch-22
situation.

In the early 1980s the bank was
losing millions — in 1983 alone it
lost $64.3 million — and it came
under political pressure to clean up
its loan portfolio

uous

Critics say it was forced to move
bigger and safer loans to wipe out
an accumulated deficit as high as
$250 million after five straight
years of losses. In 1984 the bank
was forced to foreclose on loans
worth about $200 million.

By 1985 the red ink disappeared,
but critics, which included a task
force on government spending,
said the bank's purpose had also
vanished

‘NOCHANGE’

Guy Lavigueur, the bank’s
president, has insisted for several
years that the philosophy has never
changed. But the bank’s own an-
nual reports indicate it has.

By 1985 the average loan size of
the bank had climbed to $206,000
from $56,000 in 1980. In addition,
its lending activity started to move
toward bustling Central Canada
instead of the regions.

By SUSAN YELLIN
The Canadian Press
As the year draws to a close and thoughts of the

Tax time nears

province. If you make $27,800 to $55,600, you can ex-
pect to have a combined tax rate of about 40 per cent.
For those who make $55,600 or more this year, it's

CHRISTMAS TREES

At Slocan Park Tree Farm
2 Acres of Cultured Bushy
Colorado Spruce and
Scotch Pine Trees

You Choose! We Cut!

DR. TIM ALLEN

iptometrist
1458 Colada Ave., Castlegar
(Former Bun City Bakery)
Announces New Office Hours of

Monday, Wednesday & Friday
8:30 a.m. to 4:30 p.m.

FOR APPOINTMENTS TELEPHONE 365-2220
Monday to Saturday

Minister won't
expose list
of strip clubs

OTTAWA (CP) — The number of
strip clubs that have received loans
from a federal bank will not be laid
bare by Industry Minister Harvie An-
dre

Andre refused again Friday to
provide a list of clubs, telling reporters
that doing so might pose legal
problems because the Federal Business
Development Bank is guided by
banking confidentiality rules.

Andre said he is sympathetic to en
trepreneurs who have seen stories in
newspapers about strip clubs whose
owners or landlords have received
loans from the development bank
when they have been denied them.

He wouldn’t say which businesses
had received the loans ‘‘because of all
kinds of factors that I would have to
take a look at before I could make a
commitment.”’

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Andre couldn’t say how many strip
clubs or similar establishments had
been given federal loans. Bank of
ficials say they are investigating

Opposition MPs in the Commons
sought an investigation of the matter,
saying that taxpayers’ money should
not go to strip joint operators when
thousands of deserving businesses are
being denied.

Opposition MPs have estimated that

Editorial cartoon, page A4

as much as $3.5 million in federal loans
went to firms which either ran strip
clubs or provided premises for them.

Andre said the bank is investigating
loans to at least a dozen strip clubs in
Ontario and Quebec to find out
“whether there was blatant disregard
for rules which led to this situation ..
or if there was an administrative
breakdown somewhere in the system.””

Andre said he too is upset that so
many deserving businesses have been
denied loans

holiday season and winter va

plan now to save income taxes. *

nold Perel,

annual claims.

benefit more,
Professional Group.

to five years later

want tocollect them until you do.

ions take over, the last
thing most Canadians want to dois think about taxes.
But the end of December normally marks the end
of the 1989 tax year, as far as Revenue Canada is con-
cerned. And with tax reform having sewn up loopholes
and shut doors to most tax shelters, it’s important to

The experts say ther? are a few strategies you might
want toconsider before Jan. 1, such as:

© If you know you're going to get a seasonal bonus
in December, ask whether it can be held off until next
year to reduce your 1989 taxable income, says Tim
Egan, president of T.E. Financial Consultants.

ADVICE

© Medical expenses, such as prescriptions and den-
tal costs, can sometimes be put off to next year, says Ar-
an accountant and financial planner.
Building up one big antiual deduction will make a bigger
dent in your income — and your tax bill — than small,

Tax rules state a credit for medical expenses is
limited to the lesser of $1,500 or three per cent of net in-
come. So in using the $1,500 example, if you have $500
of medical expenses this year and think you'll have
another $1,000 next year, holding off on claiming the
$500 expenses for another year could allow you to
says James Fullerton of Northern

Donations to registered charities can be claimed up
The first $250 of a charitable
donation is given a tax credit of 17 per cent, with a 29-
per-cent credit onthe balance. If you don’t have enough
receipts to make for the bigger tax break, you might

The most important fact you have to know before
considering any strategy is your tax bracket

For those who’ll make less than $27,800 in 1989,
you can expect to have a combined federal and provin-
cial tax rate of about 25 per cent, depending on your says.

about 45 percent.

offon.””

© This is the last year you can buy compound-in-
terest securities, like Canada Savings Bonds, and defer
the interest for three years.

interest earned

anyway.

of it now

“The key point is that the brackets are wide,"’ says
Henry Zimmer, an Edmonton tax expert.

“If you're in a low bracket and know you're going
to be in the middle bracket next year, there are some
things (types of income and deductions) you can hold

Under proposals in this year’s federal budget, only
securities bought before 1990 will be eligible for the
three-year deferral, says Egan. Therefore you might
want to stock up this year to mee off having to declare the

© If you play the stock market, you might want to
consider starting to usé some of your capital gains
exemption. Canadians are allowed a lifetime $100,000
exemption on capital gains and most people still haven’t
touched theirs, says Egan.

But he cautions that capital gains should only be
triggered this year if you're planning to sell your stocks

“You're penny-wise and pound-foolish to cash the
stocks in now if you think theyfll go up,””

For those who have already used up their capital
gains exemption, the tax on such gains jumps at the end
of December to 75 per cent from the current 66.6 per
cent of your marginal tax rate — the rate levied on any
additional income.

© As of this year, if you're retired and getting in-
come from your company pension plan you can roll over
up to $6,000 of the plan into a spousal RRSP. This is one
of the last forms of income-splitting still around

You don’t have to roll the plan over until the nor-
mal RRSP deadline, but it’s a good idea to start thinking

“It makes sense in a majority of cases, providing
your spouse is in the same or lower tax bracket,

Egan says.

” Egan

THE CASTLEGAR
ROBSON BRANCH
OF THE ROYAL
CANADIAN
LEGION

Request all members
to please renew their membership
for 1990 betore November 30
if possible, to quality for an
EARLY BIRD" Sticker
Fraternal Affiliates
are reminded that they
MUST renew by December 31, 1989
for their affiliation
10 continue through 1990.
MEMBERSHIP RENEWALS CHAIRMAN

B.C.

VANCOUVER (CP) — British
Columbia may be leading other
provinces in job creation, but residents
are paying for their econdmic
prosperity with falling living standar-
ds, says the B.C, Central Credit
Union.

In its latest economic analysis, the
credit union says the average B.C
family’s cash income rose 11 per cent
from $21,315 in 1979 to $23,699 in
1988, in 1979 dollars.

“A rapidly increasing population,
soaring real estate prices, and a diver-
sifying economy — in which many
workers are left without the necessary
skills to qualify for changing em-
ployment opportunites — have ait ted
to high rates of unemployment and

Crestbrook
earnings
take dip

Faced with a weak lumber market
and signs of a softening market for
pulp, senior officials of C

Located
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Nelson Trading Co.
102 Baker St.
Nelson, B.C
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Forest Industries Ltd. in Cranbrook
say they are not surprised by the com-
pany’s drop in financial earnings dur-
ing the 1989 third quarter compared
with the same period a year ago.

Net-earnings for the three months
ending Sept. 30 were $8.82 million
compared to $9.54 million for the same
quarter of 1988, However, the com-
pany’s earnings for the year to date are
up slightly, to $26.55 million, from
$23.11 million for the same period last
year, the company reported.

“The third quarter of 1989 was as
anticipated,"’ Sakae Hosaka, Crest-
brook’s chairman of the board and
chief executive Officer, and Stuart
Lang, president and chief operating
officer, said in a news release.

“The lumber market is not strong
and there were also signs of weakening
markets in pulp. In spite of these signs
of weakness for both product lines,
prices and psoducts will remain
relatively unchanged for 1989.""

They said the drop in third-quarter
earnings this year is primarily at
tributable to more extensive work than
scheduled in the regular maintenance
shutdown of the pulp mill in late July
and early August which resulted in
some loss of production and higher
costs for the quarter

However, Hosaka~and Lang said
they are pleased to see the year-to-date
earnings are up from last year

Crestbrook Forest Industries Ltd
harvests the forests resources of the
Kootenay region in southeastern
British Columbia

living standards drop

falling real purchasing power for B.C
families,”” the report says.

But after accounting for an increase.

in the family tax bill of about $2,861,
real disposable income actually felt
four per cent in that period to $12,312,
the analysis said.

Compounding the problem of in-
creased taxes are higher house costs,
especially in Vancouver, higher child
care costs and for students, 60-per-cent
higher university tuition fees, the
analysis said.

But it concluded that as the restruc-
tured provincial economy matures and
structural unemployment falls, ‘‘Br-
itish Columbians may reasonably look
forward to a progressive restoration of
their living standards.”

Meanwhile, the Canadian Imperial
Bank of Commerce released its
forecast Thursday predicting B.C.
economic growth will fall below the
national average next year because of
weaker export markets and reduced
consumer spending.

The bank said B.C. growth will fall

from four per cent this year to 1.5 per
cent in 1990, compared with a national
growth rate of 1.9 per cent next year
The bank said B.C. unemployment
rates will rise to the 10-per-cent range
next year while inflation in Vancouver
will reach 5.3 per cent, compared with
a3.9-per-cent rate in 1989.

Toc U th

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SHOWMANSHIP

Painting, cleaning, landscaping ond
profitable steps to take
home-on the market
for sale. Keep in mind that unless ab
solutely necessary, you should not
concern yourself with major
remodelling or redecorating. Your
purchasers may not like your choice
of colors, Just be certain everything
is clean and neat and in working or
der

It's quite common for sellers to tee
uneasy or anxious prior to thei
home's first "Open House.” After o
potential purchasers. often attend
many Open Houses before making o
decision to buy. Chances are your
home may be one of several being
viewed that day or evening by poten
tial purchasers. If your home is
capable of leaving that all-important
last impression. your chances of
selling will be greater

A good tip is to try to compare the
‘Open House’ to an “Opening Night
of a play. Create a scenario complete
with mood and” atmosphere. After
you've set your stage, opentthe doors

and let the audience throug.” But
betore the curtains can go up, there
are a few points you need to know

The outside of your home should also
be as attractive os possible. It your
Open House is held in the winter
make sure the walkways are
shoveled: if it's in the spring or tall
rake the leaves; and it you re selling
in the summer. plant extra flowers
‘ond keep the grass cut. Remember
too, that your agent should be able
tp provide you with a checklist tor o
slccesstul Open House

NRS NATIONAL REAL
ESTATE SERVICE
Mountainview Agencies Ltd

1695 Columbie Ave.
Phone 365-2111 or 365-2757

Slocan Park

Weekly

stocks

ADVERTISING FEATURE

$12,000 Donated Locally

TORONTO (CP) — After four
days of gloom the Toronto stock
market finally found a reason to rally
in late trading Friday

The Toronto Stock Exchange com
posite 300 index jumped 17.71 points
to 3,933.48, to finish the week 24.09
points lower thanit started

In New York, where investors were
digesting their Thanksgiving Day
turkey rather than trading stocks, the
Dow Jones average of 30 industrials
rose 18.77 to 2,675.55, to bring its net
gain for the week to 22.89 points

The stock markets were reflecting
the different directions interest rates

are moving in the two countries,
analysts said

U.S. interest rates declined again
in the credit markets Friday, but there
was still no sign of interest rate reduc-
tions in Canada.

“We weren't-eating turkey this
week, but the volumes in the market
reflected the fact that other people
were,”’ said Lyle Stein, of Nesbitt
Thomson

“Gold continued to Be the flavor
of the week, the flavor of the month
really,’’ Stein said.

Gold bullion prices continued
rising Friday up a dollar to $419.50 US
an ounce.

Sesustes 226-7216

RENEW YOUR
Quiteplan wiry ys!

CASTLEGAR SAVINGS
INSURANCE AGENCIES LTD.

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Support Your Lung

should be forwarded to:

donations to help pay for this ad or membership information

AnaA our TO LIFE SOCIETY

Box
Rossland, 8.C., VOG 1Y0

OFFICE: 1506 Cedar Ave., Trail * 368-5414
Noon-2 p.m. Tuesday, Thursday, Saturday

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and staff of C

Realty.

Castlegar Realty trd- 1s a tocat independant organization which
offers the same services as franchise operations; however, prides
itself in being involved on a local level. The salespeople have all, at
one time, worked for a franchise real estate company and have
had trouble accepting the fact that their franchise fees go to the
national office, which, in turn spends the majority of these fees on
things outside of the area and usually outside of B.C. and Canada

To date, for 1989, Castlegar Realty Ltd., has donated $12,000 to
local organizations. Wayne McCarthy says these donations reflect
their dedication to the community. The source af this generosity is a
special fund into which contributions are made by each of the sales-

people on a regular on-going basis

Some of the organizations and clubs which are sponsored by the
salespeople at Castlegar Realty Ltd. are

RCMP

Jim Young Golf Tournament

Christian Women’s Grou,

Castlegar Junior Rebels 1988-89

Castlegar Minor Hockey
Association

Royal Canadian Legion

Castlegar & District Golf Club

Girl's Softball

Variety Club

Castlegar Slowpitch

West Kootenay District
Scouting

Kokanee Crusaders Uniform

Castlegar & District Aquatic
Centre

Castlegar Festival Society
Drag Boat Race

Ladies Curling Club

Men's Basketball

Boy Scouts

Castlegar Kennel Club

Castlegar Chamber of

Commerce

Red Cross

Castlegar & District Heritage
Society

Castlegar Firefighters

Learning Disabilities
Association

Castlegar Junior Rebels 1989-90

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