Castlégar News January 20, 1988

Economic growth
solution to debt

In The Globe and Mail

It is not the size of your debts that
matters, it is the size of your debts in
relation to your ability to service them.
That is why economic growth in
developing countries is such an impor.
tant part of the solution to the inter.
national debt problem.

Context is everything. Over the past
two years, the United States has gone
from being a creditor nation’ to the
world's largest debtor $264-billion

ANALYSIS

U.S. at the end of 1986. But the United
States is also the world's richest
economy. Even at $264-billion, net U.S.
foreign debt is much smaller in relation
to its productive capacity than Can
ada’s.

In 1986, Canada’s net foreign debt
was about $130-billion half as big as
the American debt in an economy
one-tenth the size. Canada’s external
debt is much bigger than Brazil's

troubled debtor nation because Canada
has a substantial ability to pay (though
the balance is getting worrisome).

The debts of Brazil, Mexico, Ar
gentina, Venezuela, the Philippines,
Nigeria, Chile and 20-odd other strug:
gling countries are problematic be-
cause those countries are not earning
enough money to service their obliga.
tions. Part of the problem is the low
prices of commodities many countries
sell — oil, metals, food. Part ofthe
problem is non-tariff trade barriers
erected by wealthy countries against
the very goods the poorer countries
manufacture — textiles, shoes, steel,
cars — and Canada is as guilty as
anyone in this regard.

Part of the problem is wasteful,
corrupt, statist economic policies with
in developing countries themselves,
where scarce resources are squander.
ed, laundered, pilfered and socked
away. And part of the problem is
interest payments on debts out
standing — payments that eat up much
of the foreign exchange earned by poor

levels, and deprive their economies of
the investment in productive -assets
needed to achieve higher growth.

Lenders aré recognizing that
many developing countries will never
be able to fully service their debts.
Many banks are raising loan loss pro-
visions to 80 per cent and higher to
protect themselves against financial
losses on foreign loans. Ottawa may
allow full tax writeoffs of loan loss
provisions when they are taken, to
assist banks in this painful adjustment.
If that happens, there could be further
major writedowns of foreign debt by
Canadian banks.

Acknowledging reality will permit
major lenders to sell troubled loans on
a secondary market at discounts of up
to 30 per cent, depending on the state
of the borrower. This does not help
debtors directly — they still owe the
face value of the loans — but it will ease
pressures for repayment at face value
terms, even as the banks reduce

($104-billion), or Mexico's ($100-billion)
But few people refer to Canada as a

countries through
their consumption to

exports, ‘reduce
socially damaging

interest spreads and convert some
loans to equity in debtor countries.

How to invest ethically

By BRENDA DALGLISH
Canadian Press

So you want to make money and save the world at the
same time.

Welcome to the world of ethical investing, in which
people put their money where their values are.

The popularity of ethical investing is modest but
growing and has caught the conventional investment com
munity by surprise.

After all, refusing to buy shares in a profitable company
because it makes weapons, pollutes the environment or
operates in South Africa seems to run contrary to the
traditional goal of investment — seeking out the highest rate
of return

But for Larry Trunkey, a Victoria investment adviser
who founded the Canadian Network for Ethical Investment,
there is no conflict at all.

OTHER FACTORS

“If you were going to hire a babysitter to look after your
child, would you ignore all the other factors and simply hire
the one that charged the least?” Trunkey asks.

“If we say the reason for investing is to get the highest
possible return, then that’s one thing. But if we say the goal
is to save for a healthy, happy retirement, then you acknow
ledge there's more than simple financial returns involved.”

But ethical investing is more complicated than the
conventional type, Trunkey cautions.

operated to make a profit for their shareholders.

The first step, in either case, is for investors to take
stock of their own values and determine what issues are
important to them, Trunkey said.

“That's often the hardest part, to break out of the
numbing willingness to keep doing things the way they've
always been done and take responsibility for all the decisions
you make, including your investment decisions. It makes life
more complicated.”

Then investors select attractive investing opportunities
— whether they are interest-bearing deposits at financial
institutions or higher-risk stock market investments — and
use their value “screen” to determine which are most
appropriate.

The tax system also provides some incentives for ethical
investors.

First, contributions to registered charities can be
deducted from the calculation of taxable income.

And political contributions return generous tax credits.

“There's probably no more forceful way a tax filer can
express his or her values than by making contributions to a
political party,” Ellmen says.

The federal credit returns 75 per cent of the first $100
contributed, 50 per cent of the next $450 and 33.3 per cent of
the amount exceeding $550, up to a maximum credit of $500.

Answer to Sunday Crossword Puzzle No. 296

In addition to the usual kind of financial S, an
ethical investor also has to consider whether his decisions
are in tune with his values.

Eugene Ellmen, who has written a book called How to
Invest Your Money with a Clear Conscience, says there are
two ways to approach ethical investing.

SCREEN FIRMS

The first method is relatively straightforward.
Eliminate companies involved in any activity — whether it's
publishing pornography, mistreating employees or manu
facturing nuclear weapons — that offends the investor's
values, Ellmen says.

In this way, the investor decides that his money should
not support certain types of corporate behavior

The other type of ethical investment is positive. It
directs investment funds towards worthy projects, often
within the investor's own community, Ellmen said.

It’s often done most easily through regional financial
institutions such as credit unions or caisse populaires, which
are usually established with a mandate to encourage local
enterprise, he said.

They are run by boards elected by their member-cus.
tomers, unlike banks and trust companies which are

IMIS SEIS)

[Opuim|

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ules Bult im|Z/010|0}

Answer to Sunday, Jan. 7 -
MOTTO AT THE LIVELY NUDIST CAMP, WHICH Is
OPEN 24 HOURS A DAY: “WE'RE NEVER CLOTHED.”

of British C

PUBLIC

NOTICE

ROYAL COMMISSION
ON EDUCATION

(Public Inquiries Act, R.S.

B.C. 1960, Chapter 315)

The Royal C ission
ing a visit to Creston in
sufficient interest to hold
time.

on Edt vis ‘=
March provided there is
a Public Hearing at that

If you plan to present a brief please contact the
Commission office by February 15, 1988.

Telephone (24 Hours)
Call collect
(0) 660-4010

On behalf of the Commission:
Mr. John Walsh, Secretary

Royal Commission On Education
#350 - 900 Howe St.,

Vancouver, B.C. V6Z 2M4

sce] O88
Low, Low Price! ....... + J

87 CHEVY 1 3 g 8 8
Camaro. T-Root, 5-Spd.,

And Much More! .. 9
988
488
"86 PONTIAC 1 1 4 8 8
High Value. Lew Price )

"86 HYUNDAI PONY

Great Affordable Economy
At Our Money-Saving Price

86 RENAULT

Hiance. Air-Conditioned
‘One Owner Unit

"86 PLYMOUTH

Reliant. One Owner. Very.
Clean. Low

’86 PONTIAC 1 2
Fiero SE. One Owner,
V-6, Power, Many Extras.
hades 1 1 9 88
Hustler, 4x4 Immaculate.
12,000 kms. Many options
85 PONTIAC q 8 8
Sunburst. Great Economy,
Great Value, Great Price

er 1 0 988
orea 1 4 988
Riviera Coupe. This Car
Must be Seen! + J
84 PONTIAC yy 88
Acadian. if You Want a
Low Price & Great Economy 9

‘sa CHEVY 228]

Many Options Inc. T-Top

"85 OLDS

Cutlass Cierra. Fine 4-
V-6, Power & More!

"85 BUICK

LeSabre Limited. Fully
Loaded. 1 Owner, Air

"84 CHEVY

Camaro T-Root. One of the
Most Popular Road Cars

"84 NISSAN

Extended Cab, 1 Owner, Std.,
Many Extras, Canopy

"84 PONTIAC

Sunbird, Fastback. You
Won't Find a Cleaner Car

83 PONTIAC

Sunbird Sedan. S;
Inside & Out. From: ‘Wheel Dr

100% FINANCING Is is SPECIALTY

"83 FORD F150

XLT 4x4. Completely
Recond., New Paint & Canopy. .

"82 DODGE %-T.

We Know It’s a Dodge
But Look at the Price! ...

81 BUICK

LeSabre Limited. Fully Loaded
Stationwagon With Air

81 BUICK REGAL

imited. This May Well
Finest Used Car We Hav

"81 AMC EAGLE

Stationwagon. Exceptionally
Clean 4-Wheel Drive Satety

"81 PONTIAC

Firebird Espirit. Clean
Comtortable, Redone.

"80 AMC EAGLE

Sedan. 4-Wheel Drive. With
an Automatic Trans

"80 PONTIAC

Phoenix. Look at This. Look
at Our Price. What are You
Waiting For?

"80 FORD GRANADA

Remember Ford's Cost
Less Here at Maloney's!

"80 MERCURY

Cougar XR7. One Owner
Only 60,000 kris. Air Cond. .

"80 CHEVY 4x4

‘4-Ton. This Great Pickup
is Just for the Handyman

’80 PLYMOUTH

Fury. You Can Have Your
Very Own X-Police Car

'79 CHEVY

Caprice Classic. Full
Equipped, Air. Great for Family

’79 CHEVY S/W

Caprice. Lookie, Lookie! This
Wagon Can Do It All For You!

'79 GMC %-T.

Bonus Cab. 6-Man Comfort
Great for Comper or Towing

1977 GMC VAN

Conversion. Comperiz:
With Only 55. G00 original miles

78 GMC 4x4

Jimmy. Look at the Value
We're Giving You Here

‘18 FORD F250

up. 1 Owner and Very
Cleon Throughout.

CALL COLLECT 365-215

Maloney Pontiac Buick GMC

1700 Columbia Ave., Castlegar DI. 5058 Call Collect 365-2155

wR SAM'S AUTOMOTIVE

Complete Automotive Service
PETRO CAMADA

TIRES — MUFFLERS

UNE-UPS — BATTERIES
LUBE, OIL,
FILTER

HEAD

LIGHT
975 Columbia Ave. | Mmalddlune
Castlegar

USED GUNS bought and sold.
Soot or trade. Wises Hardware,
362-5171 t#n/93

WOODWORK

CABINETS
CUSTOM
FURNITURE
INTERIOR
FINISHING.
* GARAGE DOORSSoles Repowrs

GRAHAM READ

365-34:
222 - 102nd Ave. ns

FIBERGLASS canopy for =r jong be box
import. $350 obo. 365- 3/4

New & Used Furniture
ignments

Consign:
Open 9-6, Monday-Saturday

USSELL ey. 34
UCTION vn
+4 399-4793

CERAMIC CLASSES Starting
11. Register now ond

un making projects for

your friends and yourself. Don:
no's Ceramics, 365-3774. _tin/3

CLASSIFIED
RATES AND
INFORMATION

Rates
First 10 Words $3.75
Additional Words 20¢
3 Insertions for Price af 2

x, S2x, 104x
‘Also Available

Special Rates ore for
Consecutive Insertions

Attention Getters

25¢ for each time ad appears
(Minimum charge 75¢.)

Legal Ads

Word ads: 20€ per word tor
one insertion; 15¢ per word
for subsequent consecutive
Insertions. Minimum charge is
tor 20 words. Legal boxed ads
64¢ per agate line for one in
sertion; 48€ per agate line for
sursequent consecutive inser
tions

Payment Policy
Payment may be made by
cash, cheque or Visa and
MasterCard credit cards. It is
not advisable to send cash
through the mail. Classified
Ads may be char,
billing charge wil
the ad is not paid for seven
days after it firs! appears
(This $1 charge does NOT ap:
ply to Viso and MasterCard
charges.)

WEDNESOAY C CASNEWS
12 Noon Tuesday
SUNDAY CASNEWS
11 a.m. Friday

Classified Display
‘Ads Deadline

“Boxed Ad:
WEDNESDAY CASNEWS
11. a.m. Tuesday
SUNDAY CASNEWS
10.a.m. Friday
Order by Mail
Print your Action Ad on a
separate piece of paper and
mail to:
Action Ads

Box 3007
CASTLEGAR, B.C.
VIN 3H4
The Castlegar News reserves
the right to classify ads under

oppropriate headings and to
determine page location
Human Rights Act
All edvertisements such as
Help Wan’ must comply
with the British Columbia
Humen Rights Act. This Act
states no advertisement may
state or imply a preference,
limitation, or specification, on
the basis of an applicant's
race, religion, colour, marital
status, ancestry, place of
origin, age, sex (unless the
matter relates to the main-
tenance of public decency
AND prior approval

365-5210

READERS of a News,
is newspaper's
Yukon

: can veer 2
word “blanket” classified ad in
more than 920,000 homes.-Your
Action Ad will appear in over @¢
newspapers with

more than’ 2.75 milion readers!
nd there is a $10 discount for
cash. Call our Action Ad number
365-2212 for details. tin/87

Aluminum
Sheets

24'4" x 36
1 to 12 — 786 Each

13 to 24 — 60¢ Each
25 or More — 50¢ Each

CASTLEGAR NEWS
197 Columbia Avenue
Castlegar

AMWAY guaranteed products
with service to your door. Phone
693-261, 804/70

All 12-4. In-Stock yd. +3"

PAINT SET $545
% Roller, Tray

ALL INSTOCK %
WALL PANELS . 10%
LIGHT

FIXTURES

KINGSIZE waterbed, gncalions
condition, $175. 365-8316.

WE CAN HELP YOU BE
WORTH MORE TOMORROW
THAN YOU ARE TODAY!

Lite insurance

6664 © phen. 365. 2694

i y Mutual Life of Canada
j Mutual Investco

WANTED TO ‘BUY; Standing ‘or
er. Slocan Forest
Products. Call Terry Dods, 955.
2216.

B&J TAX
SERVICE
hides

1245-3rd $t.,

‘or
Income Tax
Return
Bookkeeping
Service

MEN'S grey leather jacket,
medium, brand new. $250. 365:
3482.

CHEST freezer,
cellent conditio

Brighten Up
Your Home
With Beautiful

SILK
FLOWERS

Large Assortment
JUST

ARRIVED

1125 - 4th Street, Castlegar
365-5191

OPEN MONDAYS

AIRCO-WASP portable welder
generator/225 amp/SKV power
plant/16 H.P. ONAN. 365-3212

3/6

January 20, 1988

Deadline for Sunday Edition — 11 a.m., Friday

365-2212

FOR MORE INFORMATION CALL

ACTION ADS — 365-2212
CLASSIFIED DISPLAY — 365-5210

For Better or For Worse”

by Lynn Johnston

1972 440 TNT skidoo and trail
Both good condition, 365-8209

——
Phazer Headquarters
for the Kootenays

Downtown Grend Forks

1977 REINELL 217, Calkins trail
and boathouse. 365-3884 att
p.m. 6

YOUR BUSINE

PLUG INTO THE CLASSIFIEDS

This Space is Available . . . For More Information Call Display Dept. 365-5210

Run the same

first two ads . .
CHARGE.

ACTION ADS

THREE FOR THE
PRICE OF TWO

wold daidilisd Gi in threw coneecutive
issues of the Casleger News and You pa

last one is ot NO

only for the
iO" ADDITIONAL

ONE CHROME able and four
hairs, good condition, $40. 365
3/5

BANTAMS and Pigeons for s:
365-7078.

pererything you need f
OOMING TO SUPPLIES
Tol REPTILES. SIAMESE KITTENS
PUPPIES AND FISH AT

FANCY FUR
& FEATHERS |

hehke-Mike Mall ©

HAGEN, «i

Nutring Feed Specials
16% Egg Mi

Pellets, 25 kg. Bag $7.35
Dog Chunks 205 $18.95
Dog Pellets 25 ks $17.98
Whole Oats 25 ko $6.00

ARROW BUILDING

r, 965-2175 » Trail, 368-53

WATERBEDS. For all your water
needs and supplies. 367.
7608 __104/40

Two-Gallon

PAILS

AUCTION
SERVICE

Approvsols
We Buy & Selt

ONLY

*1.50

EACH

Heavy duty all-purpose

plastic pails with tight-fitting
covers and handles

Need cleaning. $1.50 each

CASTLEGAR NEWS
197 Columbia Ave.
Castlegar

CLASSIC Mason Rei plone. 15-
years-old. Phone 368-3698, tina

Y¥
Buy-of-the-Week!
Banonos te». 33°

obtained through the Humen
Righ

COUNTRY HARVEST
— DELI SPECIALS —
PASTRAMI . ieee Gc. as el

LYONA SAUSA‘
BAVARIAN LOAF ies co ant 12

ELECTRICAL &

FURNISHED, 2-bedroom mobile
home. Washer. dryer, gas hea

Rent negotia Tks. 5
2 BDRM. suite aos to down.
town; sundeck, $275. 365-6663
365-2357 5

7
$375/month,
1s included. 365-2327. 7/5

CASTLEGAR
VILLA

Units for Rent. Seniors Only
Application Forms Available
Gt Unit No. 1, 711-11th St.,

ci

2 BDRM. house. Availabl
mediately: Adjacent to elemen
ry school 31

3.
3 BDRM. house, 1 sbaths. Rob.
son. Pets, children, OK 5.
6354,

ROLL-AWAY COT, 48” wide, no
mattress. Good condition, $25.
359-7647. 3/5
3-GAL of white paint
$10/gallon. Truck mirrors for
5. Grand new fishin
a 365-71

LARGI alder house in rural se
ting, 3 bdr: Sotn,"tort ond
basement ould not mucl but
inside beautiful
reasonable o ing

$48,000. To view 365-3917 off ers
425-0267

ttn. /02

FOR RENT OR SALE
Available immediately
Unique 2 bdrm., 1'% bath
12'x68' mobile home. Lore

fequired. $325/month. Phone:
365-6898 or 355-2503

19%
sedan

s Clark Wekiioe
shoes, suide, Size 6, new $25:
men’s black leather coat size

Maranatha
Court

Family like atmosphere
1, 2and 3 bedroom units
with fridge and stove
Ideal Retirement
Handicapped Units
available

Close to 3 schools
Private Entrance.
Sundeck or Patio

PH. 365-7161

FURNISHED 2 bdrm. duplex
Raspberry Village, no pets. 365:
{a Siena: 2
GENELLE 2 bdrm., gas heat,
fridge/stove. Lorge yard. 693°
5566.

CLEAN, quiet, central, 2 bdrm
gpariment. stove, fridge, foun
dry fac 365-8063 /

FURNISHED one bdrm. basement
a jes included

town location. 365-66:

6455.

Ideal retirement
1 & 2 bedroom units
Fridge and Range
Very clean & Homey
Would Furnish on

CONTRACTING LTD.
Phone: 365-3033

PROVINCE-WIDE
CLASSIFIED

$10 DISCOUNT FOR CASH!
Coll us

oe details!
sified Ads
365. 2212

SS

Castlega ar News

EXERCISE a

WESTBEND colfee moker 2

bry Good condition, $20. 365.
36

SWAG WAG tomo. $20. Short, unlined

drapes, . 365-5657. vs

You may advertise in this column
free of charge. Up to two items
be advertised, but the

item must have a price
stated. We will run your ad for
three issues tin/74

SELKIRK MANOR
1 and 2 bdrm. apartments star
ting at $285. Quiet, well cored
tor building. Fridge
cluded. 365-3034

IN ROBSON, 2 bedroom mobile

omes furnished or unfurnished.
Ses heat. Starting at $225. 365.
3155.

subsidy available. Small
welcome on approval. Offic
open 2-4 Wednesday or leave|

ge.
365-2677

CLEAN furnished 2 bdrm. trailer
reg area. $215/month
365-7552 3/4

ce in professional of

ONE BDRM. apartment. tur
nished downtown, beoutiful
view. 365-6961 4
THRUMS 2 bdrm. house, portly
furnished, available Jonvary 15
a oY 3/4

BOR: wi
end ‘dean, utilities and
pes; Robson. 365-7882. tin/2

Ask for more infor
mation on Senior
Citizens retiring plan

Private entrance utilities,
cluded. Non-smokers, 365-5533
7/6
2 BORM. house, Castlegar
Suitable for couple with one
child. 368-9773 7/6
ONE BDRM. apartment, fur
nished, utilities included. 365
2480/365-3848, 3/6

RM. house for rent
$175/per month. 365-2175. pes.

Rebou S
oats woehing machine, $60.
365-2334. EY)

44, wit lining, new
condition, $75. 365-5657 3/5
SENIOR CITIZENS may advertise
items for sale in this column free
‘of charge. Please call 365-2212
also have your Pharmacare Card
Number handy. We will run your
ad for three issues, three items
only, limit $200 for three items
The price of each item must be
stated. ttn/07

ARROW LAKE FRONTAGE, 7 plus
‘oreste private
secluded isolated

(boat access). $30,000. 509-838.

3826. ttn/2)

BUYING OR
SELLING A

HOME,
PROPERTY
ORA

DAVID DANIEL OFFICE 365- an YW
Sales Associate RES. 365-
Call for service
or advice
FREE — No Obligation!
CENTURY 21
Mountainview Agencies Ltd.

bsmt. larg
dscaped fenced yard

children's play orea, garden
shed. gorage. $30s. Offers. 365.
2375. 7

ORDAN WATSON

Century 21
Mountainview Agencies Ltd.
JORDAN WATSON
365-2111 * 365-6892

2 BORM. house, 182%65' lot,
$20,000. Robson. 365-6342/365
6948.

discuss your
Real Estate needs and or value
of your home wit no

MEN" X-Count ie.

ond poles, $60.

CEDAR chews, S00. a v Table,
$100. 365. woh

OF cost to you
CALL RAY BYSTROM
Secdg Meaty Realty Ld
Wea Ave.

miles, propane powered, $6,000
0.b.0. 1985 Olds Firenza F..D., 4

0.b.0. Call 365-6769 or 365. 70\0
ask for Bryan.

1976 JEEP, 4x4 pickup. “Tested,

excellent condition $4,500. 365.
1077

6

ral Ex

condition

Will trade for snowmobile

dirt bike of equal valve. 365.

8258. 3/5

FRED
UNDERWOOD

#1

IN SALES
& SERVICE
piverview

368-9134

TRAIL

1984 GMC Rolly V “Van, 305,

p.b., clean. $8,000. 365-5828. Pas

1978 GRANADA {2door. tubby

winterized. 365-31

79 CAMARO, 30, ‘auto. Prone
365 2834 in/4

dition 365.2 3905.

1976 GRAND AM classic, good
runining condition. 365-6935. J43

86 FORD Ronger, 4x4 4-spd.
auto., Super Cab, $13,000
5204. -
72 DATSUN 510 25,000 original
miles, fibreglass front tenders
good winters, very little rust.
sking $1,500. 365-3510. Ask for
Ter /o

1978 CHEV Van 20, 50,000
original miles, new tires, shocks
excellent condition, $3,500. 365:
2420.

1980 PONTIAC Phoenix. T

is completely rebuilt, V6, 4-spd

Must sell $3,500. 1979 Plymouth

condition, $2,000

coneiter port bavert

365-7641, 365-7077

1976 HONDA Civic sation

wagon, rebuilt engine.

Tires, new paint, $950 0.b.0. 365

5675 atter 6 p.m 2/6

Good Business
Sense...

ECONO SPOTS
Call 365-5210

WANTED: Boat and trailer in
bp condition; With full canvas
$6,000 |. 0.8. 365.

Trucks
Cost
‘Less at

Maloney!

GMC S-15

2-Wheel Drives
8 To Choose From

$8,988

GMC S-15
4x4s

7 to Choose From

$12,988

GMC FULL
SIZED PICKUPS

‘’-Ton. 6 to Choose From

510,488

GMC FULL
SIZED 4x4s

11 To Choose From

14,888

“GMC SAFARI
CARGO VANS

3 To Choose From

512,888

Other Trucks

1-SUBURISAN 4x4
Loaded

1-SUBURBAN 4x4
Diesel

1 GMC JIMMY 4x4

1-GMC CREW CAB

2.0 8S