‘paired’ tn a: romantic’ story. ith sheet Marie: Osmont Peter Oglow ‘MacBain on beha Exhibition Cent hie Doukhobor Museum and Marjo ri Bloom fromthe National Next step is b VANCOUVER (cP) Vir- tually al! companies entering ~ receivership this year. will move into bankruptey within the next year or so, say the accountants who are charged with ging or. di However, cbapantes! - banks and. other: lendera could avoid’ much of this fconomic waste if'they acted sconer to repay debts under the’ protection’ of court-san- etioned of the assets of th in‘an attempt to repay their creditors, : 3 In B.C. this means’ more than 96 per cent of about 650 companies which found them-. selves inthe hands ‘of a ceiver ‘since January are’ at- the end of the financial road... The estimated $40 million of: “the assets involved '— much of which represents busi- nesses which in normal cir- cumstances would be financi- ally viable-— will be broken > up.’ G a senior vice president of ‘Coopers and Lobrand and president, of the volved — is company, its? bank, guarantors and’ unsec- ured ‘creditors — waits too” long before calling in’an in- dependent agent to assess By that time there are not _ enough resources left in the . business, ‘to satisfy -all'.the ee he’ believes ‘receivers are. appointed too late to! ‘able.to reauselta company, “It's'a d fallacy. leading’ to’ ‘compe-| > tition “for the assets. and ‘a: : sale’? Forest fires ‘By The Canadian Press if Coat weather, ' occasional showers and favorable winds awere helping firefighters :in northern B.C. gain control:of ‘the second largest fire in the’: | vi ‘province's recorded history, really » :“Conditions © have: changed in our favor,” Paul fall in Alberta was: helping control the forest fire situ- ation in that province. \ "Everything ‘is down ‘con- siderably,"””) said -Howard Gray, an Alberta Forest Ser- "We. got" B. ©:-Yukon’ border, burned 160,000 ‘hectares (895,000 acres) | since it be; June 24, ‘The province began: fires ‘in'1962 and* the” biggest since: then’ oc- curred in 1856 when 250,000 . hectares .; of“ forest’ was burned. ~BCRIC buys oil company “VANGOUVER, (cry — ie B.C. ° Resources Investment “Gas Ltd, to purchase the Cal- client’ ‘8 ‘stairs as gary.company. for $75 million. [ Bighart oil and’ Gas is president. ‘“Bighart is the best fit of all:those'we have looked at. Bighart has: an outstanding, success rate in drilling for ols go The amalgamation must be ‘struggle’ to keep. in? good :standing with their largest Secured : creditor. ‘Jack’ Willson : of the Can- ‘adian Imperial Bank ‘of Com- merce, agrees, ‘Although re- ceivership rarely comes as a surprise to..those involved, : the bank commonly finds that the financial position of, the. ‘qiling company is worse than’ 4 ‘public primary, in’ the -Dodsland ‘area.’ of: Saskatchewan. It produces 3,000 barrels of oil a day ‘from“ more than 850. wells, -The d by’ a three-quarter vote’ of the Bighart' share- holders and the Court ‘of Al berta,.Queen's Bench. Stare- holders are being offered $15 a share, for the amalgamation ‘of Big- hart: and a wholly-owned: subsidiary of B.C. Resources into--a. ‘new ‘company called among.‘ ose ‘dealing “with: the ‘ re- ceiver, heightened | by the “in’ hip" tag‘that: must ” d:-by the. available ‘to the: bank, \ he’ “says. “Inventories are 5 often giv: ‘that. ‘receivership. means there can be a turnaround in‘. a company. In fact-it is the last resort for secured cred- itors. It is ultimately a forced liquidation.” In most cases everyone ‘in: Westar Petro Ltd. :» “For’ some time: we. have been actively. seeking’ a ma-.~ pure, producing oil operation all the public _ dealings. y He said banks, which are cred. B.C. boosters wanted. VANCOUVER. (CP) — Team B.C, wants two million layers, + That's the theme of a new - organization aimed at boost- ing the Brovinee out of its re- cession mood. “These are tough times but le ” Fierheller said the original idea came from Joe Martin, of organizations in the Lower Mainland : will’ provide -the He said these men'made a will to provide volunteers, . and ideas.” Fierheller said Teain BC, as the ‘movement is ‘called, to help people to help” we want to peopl to have a more positive at- titude,” says George Fierhel- ler. “If you can think yourself into a recession, you can think your way out of it too.” Fierheller, preside::t. of Premier Cable Ltd., representatives. who. liked the idea but said it should be organized by private citizens. “Then I’ got involved and offéred ‘tc help and’ pulled together some people who ‘was 1981 cainpaign chairman for the United ‘Way. “This started as might ed, and they. are,” said’ Fier-i' holler, who met rely with® of :CP. .& grassroots’ idea put. to- gether by all kinds of differ- ent people — businessmen, — educational institutions, re- ligious organizations, the me- dis, and ‘many others,” he said. “It’s totally non-par- tisan and non-political. ‘It's certainly not just business.” ‘Air, Woodwards, Crown Zeller- bach, ‘several local newspa- pers and various organiza- tions. “Our next step will be to find some group that can run with the idea, We have no secretarial staff or funds so _.we hope that one or several -“We'd like.to’ start :some self-help. projects,”. he said. “For instance, antique: deal- ers in Langley recently got ‘together and held an antique: weekend © 10,000. people’ cy: cled to. visit. it. That wasn't: our idea but)it’s.the of ‘thing we'd: like ‘to. do. ‘CONFERENCE Fierheller: said’ Team B.C... is also considering sponsor- ing a conference in the fall on \ the theme. of “let's get BOC. moving again.” ‘He said ‘communities ‘such ° ial. help. and. we'll: speakers . . ‘Martin’ dies Margaret Martin, formerly. of Castlegar, died in Czech- ’ en an Willson'says. “That. valuable: lumber listed in the accounts - “ship, "but ‘poir “where co-operation {rom ictakte at iatcloas going. ‘development: division,”- said Brice Howe, BC. Resources | ; Vv. Lay _iobs: Production sorilities oslovakin July 27. . She ‘is survived by her “husband : William ‘of Ladner; -sons Richard ‘of Prince Rup- ért ‘and Donald of. Quesnel; her daughter Lynn Velling- ham; son-in-law Hal Velling- ham of Tsawwassen; and two grand. children, © Chya: ‘and. Link, also. of Tsawwassen. as Castlegar, Terrace and): @ ‘Nanaimo have already: begun‘: self-help’ movements, ‘ labor ‘pace but enough to keep the total-so far this year running. at four times last year's levels, * June's total of 116 B.C, re- led'in the current re- + cession. July's tally of 87 i our existing © Commissio1 of and gas exploration and © ments, further corporate in-:, -vestigations of Bighart and © the, lifting of ‘a temporary’: hart securities issued Friday by. the Ontario Securities’. n,:: Trading: had . been halted in Bighart shares anjorrease of pant As from 188 in the’. : ‘first-seven months of:1981.., oe ‘have nearly doubled pitty at seas: ary Powroanik, president. re- of red BC. ceivérships is the highest yet. record by. insolvency accountants in has ‘ships was 235 per cent higher than 226 in the same month last year. The B.C. Registrar of Com- panies also reported Tuesday the Sie “five-fold from last : TY Leow aalse and the high cost’ of servicing debt and inven- tory are generally blamed for CASTLEGAR NEWS, August 4, 1962 Weather aids firefighters Four caterpillars, four tank trucks, a, helicopter and an terrain vehicle were being . ‘uged to fight the fire. Pashnik said the wind shift ‘had ‘moved the tiny resort ‘community of Coal River out ear the) of danger. The town's handlul of residents were allowed to turh’to their homes Tues- day, ‘after being evacuated last “Thursday. / LIGHTNING-CAUSED ‘The: current’ fire was started -by ligh near large fire burned through the smal! community Thursday, were critical of the fire- fighting ‘operations, » They said’ if firefighters had built fire breaks, water. ed roofs and used water bom- bers the community ’ could have been saved. 5 “They (firemen) - couldn't seem to get organized. — and just didn’t seem to care,” said _ Lee Standwick. ca Pashnik sie the fire too ‘fast, Egnell” Lake. The ‘timber . burned in'the fire {s only of marginal economic value. “The timber could be con- sidered, not really scrubby, but: poor quality because the growing conditions are poor aad it’s, on permafrost," he te Alberta,.29 fires were .. 5 burning across: the province ba only, ‘seven were listed as g out of control and most ot ies were being slowed by the rains, ‘said Gray. The’ largest fire is): 200,000- hectare acre) fire in the High Level area, paid: Gray, but © fire- pushed by.’ winds of 60 kil- ometres an hour, to risk lives to save property. “We are not going to put 30 or 40 people inthe path of a running fire,” ’ Pashnik’ said. “It was a judgment “decision that was made under pres-. sure and I think it was a good <‘ decision. We ‘lost property, but we didn't lose any lives.” ‘(600,000 fighters are doing little to ; istop it because neither lives, hor property are threatened, : Meanwhile, about 30: resi dents of Fireside, B.C.,. who lost. their homes when that von Friday at the request of.) ¥ the company. “TRY ONE. | 965-5210 or 368-2212 & ABOU NUTRITION | PROBABLY SHOWS ON YOUR. WAISTLINE. _ LEARN TO GET SLIM AND STAY THAT WAY AT DIET CENTER! 12Noon’ — 7:30 a.m. - 330 a.m. - e. tte he epealating number c. aa APPOINTMENTS AVAILABLE 2 ANYTIME “Please Ebene 365-6256 AGAIN! We nave LOW LOW PRICES | AS.) Items available starting Thursday. August Sth. 1982. ~ While Quantities Last. Greenwood turns white %2.: CK to SCHOOL! Participating members’are | from * ede 100 {Mile The DTUC 16 ply i is open da GREENWOOD (CP) — tiny. community in vied ern B.C. turned white for a half-hour this weekend after a freak storm dumped ‘15 centimetres of hail. *’ Resident Mike Topolie said _pea-sized pellets of hail rain- This ‘ed down in a crescendo on Sunday, ruining many vege: table gardens. ‘Traffic came to a standstill and the roads turned té ice as temperatures dropped to 10 degrees from 26 during the deluge, he said. Peace vigil held. A 17-hour Vigil for Peace will be conducted in front of the’ provincial buildings .in Nelson Saturday to mark the anniversary of the bombing of the Japanese cities Hiro- shima and Nagasaki 87 years ago. “\ Scheduled to begin at 6:56 and end at four. minutes be- fore midnight — with candles to be lit at dusk — the vigil ". will also bear witness to the scheduled launching of a fleet of Trident. submarines. this month from the naval base at Bangor, ‘Washington. _In a prepared release, the spokesman ., for ‘Project Ploughshares, which is spon- soring the vigil, said, “The vigil is 17 hours in length to draw attention to the awe- some‘destructive power of the ‘Tridents.” As well, the release stated that.13. or. more submarines are planned for the fleet — each to carry up. to 24 ballistic missiles. “If ‘one, Hiroshima-sized bomb was detonated’ ‘each second, it .would take , 17 hours to complete the spend-. ing of: the! nuclear weapons‘ equivalent carried by the. Tridents,” the - Spo esman said. Services. held for - Quance. Frances’ Adela McHardy. ~ Quance of Surrey. passed” away. July °81 "at Surrey <: Memorial: Hospital, aged 79. Mrs. Quance. was’ prede- ceased by her husband: Mar- win and brother Wilmer Mc- *: ‘Hardy. She is survived by her son Anthony, two daugh- ters, Daphne and Eileen and two sisters Eleanor MacLean 2 and Eva: Dolphin.» ; - Memorial service ‘will be. held’ at St. Paul's: ‘Anglican: Church on Jervis St., Van- ‘eouver on ANE. 5, at 10:80 ‘ a.m, Attention Men & Boys! : is [Remember 10% OFF for Cash ‘ 365: 6761 “Men's Famous Maker S/S Fashion Tops Kni id spo! In babi colours. S-XL. pated made. S-XL. ‘Ladies’: Pantsuits and Skirtsuits 12% ‘2 or 3 pce. styles. Canadian ma made. § S.M.L. Men’s Lee Denims & Cords & Denii + Ast quality with mith some iregulars. - Kiddies’ :T-Shirts ge® 285. - Long and short sleeve. nocnfants & 2-6x. Kiddles’ Long Sleeve Velour. 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