CASTLEGAR NEWS

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* Castlegar, B.C.

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2 CASTLEGAR NEWS, Thursday,

July 28, 1960

B.C. Hydro Parity Bonds
Are a Sound Investment

Five per cent B.C. Power Commission
parity bonds go on sale throughout B.C.
next Monday. We recommend these bonds
to our readers as a good investment.

Like the famous and popular PGE
parity development. bonds first offered by
the province last year, B.C. Hydro bonds
will always be worth their face‘ value and
will be sold in $100, $500 and $1,000 de-
nominations..They will be- redeemable by
the Power Commission at any time at the
holder’s option.

. Interest on the bonds will be payable
four times a year.

Last year the PGE bond issue was for
$10 million but this was oversubscribed
so that when the issue was cut off over
$35 million worth of bonds had been pur-
chased. This year’s B.C. Hydro issue will
be for $25 million and the issue will be cut
off when it has been sold out.

Unlike the PGE bonds. this latest issue
will limit. purchases by individials to

$5,000 each. But should the full $25 mil-
‘lion not be subscribed immediately, which
is ‘highly unlikely, larger purchases will
be allowed.

Premier Bennett said he has had
several offers from private groups to fin-
ance the Power Commission issue but they
have been refused in order to give the
public an opportunity to invest in the
bonds. Another reason for restricting the
purchase’ of the bonds to B.C. residents
is that the government wants the citizens
of this province: to gain financially from
B.C. Hydro's expansion program. The in-
terest that would normally be paid each
year outside the. province will now be
spent here in B.C. when residents clip
their coupons every three months.

The new B.C. parity bonds can be’

purchased through | any (BC. bank, trust

or | dealer, and
through payroll deduction plans, They are
well worth buying.

‘Two Questions Are Raised
For New Party Planners

With an election in view for this pro-
vince it is well to ask ourselves a few ques-
tions regarding Ma ew political party be:
ing sponsored by.heads of the Canadian
Labor Congress and the CCF whose basic
platform propositions seem to be, twofold:

That the economy should produce for
‘use rather than profit, and that total na-
tional-income should go into one pot from
which ' all draw’ out equally regardless of
what they have put in.

The first question we should ask our-
selves is: Could government officials, ra-
ther than private, manage industry in Can-
ada to greater advantage of the public?
The second is: Is there in Canada a privil-

‘eged class that directs the economy to its -

own advantage at‘a cost to the. public? The
public’ in both cases-being, of course, both
producers and consumers.

The answer to the first ‘question would
be “no” from anyone who has had per-
sonal experience with the inefficiencies
and rigidities of bureaucracy. Only im-
practical theorists believe that . workers
could earn more or buy more if the state
had the decision on what’ farmers should
grow, factories produce, or stores sell.

In the highly involved process of pro-
duction and distribution the millions of
workers, each seeking personal gain, pretty
well separates the: grain from the chaff.
Leave the decisions to a few thousand
planners and inevitably there will be more
chaff than grain.

On the second question, whether

Defence of What? The Party?
As Tory Steamroller Rolls:

The Tory steamroller in Ottawa is
determined to, prevent anything but plati-
tudes and praise being heard by the Com-
mons committee on defence.

This means there will’be no real’ ex-
amination of critical: needs in a critical era.

Liberal and CCF efforts to have out-
side experts summoned to testify on our
defenceshave been crushed by the Tory
majority on the committee.

The platitudes began immediately
with Def Pearkes’ p
tion of his department's policy. He might
‘as well have stayed away. What he said was
been said before. again and again. Canada
knows the strength of the potential enemy,
it’s aware of the responsibilities we've un-
dertaken’ in NATO ‘and “the UN ‘and’

“be. taken from them that would benefit all

common good. should have its power and

Wealth t turned ‘over to the state, the answer'|,

should again be in the negative. What could

others? The man whose income is $2,000

a year would say that the privileged’ class| «

included the man whose income is $5,000,
but the $5,000-a-year man’ would’ say he

earns every penny of it, and so up the |!”
ladder to the handful. whose income. is|: -.
over $50,000 a: “year. Regarding the ‘ques: |:

tion of economic or political power, is any
person or group: really above the law? -

It is not-at all. surprising ‘that the]: |

confirmed Socialists..of the. CCE: hould
hold these views, but it seems Te

that the ~CLC ‘leaders. should

million labor union members whom. they
‘Tepresent ‘to buy -the ‘arguments, .:Union
workers cannot be classed among the have-
nots; they are the.well-paid who. would
be required to share their proportions of
the ‘with Canada’s lower-

+e. owns the piggy bank.

WORRIES

We pound our fists and fume and fret
About taxes and. inflation,

We're justifiably upset :

By lack of sanitation.

We're properly aghast at what

The juveniles are doing

And tempests raging in the pot

Have politicians “stewing.

We worry about earning more, °

We strive for recognition,

And yet we blissfully ignore

Our drift into perdition. *;

Each day more bombs are being made
For man’s extermination —
“They'll fall on reds and pinks and whites
With ‘no discrimination,

We gnash our teeth about little things, :
Yet have no time or thought for,

- Humanitys’. certain demise
there exists in Canada a class that for ‘the 3

If there’s another world war.

uh Margaret Obedkoff

_ CASTLEGAR NEWS, Thursday, July 28, 1960

‘Sh Rila’s Gaihotic Church

Rev: Er A. Brophy, P.P. 5th at Elm Street
_Sunday Masses at 8.30 and 10.30 a. .m,

The Community Bible: Centre .
") Sunday in.the Legion’ Hall
At 51 Columbia Avenue
10.30 a.m. Sunday School — 7,30 p.m. Family Service
Tuesday, 7.30 p.m. — Young People's Hour
Thursday, 7.45 p.m. — Prayer and Bible Study.”

United Church of Ganada
Robson — 1st and 3rd Sundays at 11 am:
Castlegar — Service of Worship at 7.30 p.m.
Kinnaird — Service of Worship at 9.45 a.m.

Church of Latter Day Sainis

Sundays at 10 a.m. in the Twin Rivers Hall

Grace Prosbyterian Church
Worship Service: 11 a.m. Sunday Church School: 9.45 p.m,
‘Bible Study: Wednesday at 7.30 p.m.
Jr.-Sr. High Young People’s Fridays at: 7.30 p.m.
Minister: Rev. M. S. Reside, B.A., B.D. 777 Phone 4987

Tke Pentecostal Tahernacla
Sunday School - 10 a.m. — Morning Worship.- 11 a.m.
Evangelistic - 7.30 p.m. — Prayer and Bible Study,
Thursday at 7.30 p.m. eo
Young People’s. Wednesday at 7.30 p.m.

3 «$1.00

A le Juice = we = ee |
ef 2 «x 49e

: a ay = a
Orange Base’ a a 49¢ ‘Hei 1Z Pickles Preah of Kone Catumber
Relish soem ere 3. $1.00 :
; Prem Swift's Luncheon Meat, 12 072. Sane 3 19c ae
Salad Dressing =: « - 49¢

Tomato Soup » «= 10 or 99

United Church — ist and 3rd Sundays at ll am. 1

Anglican Church — 2nd Sunday, at 11 a.m. and t

4th Sunday at 8-a.m. and 7.30 p.m: :
Baptist Church — 5th Sunday

The Anglican Church’
Ey . TRINITY Vil.

St.‘John’s, Kinnaird: 9°a.m, Mattins.
St. Alban's’ Castlegar: 11: am. Mattins

femember. :: ONLY You CAN ©
PREVENT FOREST: FIRES!

paid workers—who ‘out them, _
And -if union workers ‘think that in-
dustry’s present management is a privileg-

ed class, wait until they: have to deal with|

the gover ‘they’
are asked to put ‘in their place! Perhaps
a.talk with civil service union members
regarding their experiences in recent years
would prove enlightening. — Fernie Free’
Press

NORAD. It’s aware too that modern wea-
ponry is colossally expensive.

What Canada wants to know is whe-
ther the money is wisely spent.

In view of the Arrow and Bomarc
fiascos, have we any defence at all? Are
we pulling our weight? *

Since the Tory majority has ruled
only defence department officials . will be
heard—those responsible for the present
policy—we’re not likely to get the answers.

It’s as if the judge had ruled that on-
ly.the defendant’s case would be heard.

Criticism is sagged and Parliament
mocked.

The Tories seem “more interested in

The best..for less,

CASTLEGAR NEWS

defending the ‘party than in defending
Canada. — Vancouver Sun :

~ SHORT
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