Aé OTTAWA (CP) — Econ- omic growth must be a top priority for the federal gov- ernment, recommends the Economic Council of Canada's 17th annual review in a pes- simistic assessment of the economy over the next few years, “There is no need for the economy to linger in its present state of economic stagnation," says the council, a semi-independent advisor. to the”government on med- ium-term économic policies. In its review “A Climate of Uncertainty,” recommends ways to spur income growth, after ac- counting. for’ inflation, dnd output per worker employed. The major recommenda- tions include: — More.on-the-job labor Current account the council’ CASTLEGAR NEWS, December 10,' 1980 Economic training to fill skilled labor shortages — with govern- ment, business and labor co- operating in the reforms, — Incentives to encour- age workers in high unem- ployment regions to move to areas of labor shortages, — An end to fedoral- provincial squabbles on en- ergy pricing so large“energy- investment projects proceed without delay. — An immediate move towards world oil prices so the Canadian wellhead price is 75 per cent of the U.S. price & Ey 1985 and 86 per cent by - eerie analysis on ways to improve output, especially by individual firms. : Cree SUPPLIES SEEN The council says its- lowest since early OTTAWA (CP) — High- er prices for exports helped slash Canada’s current ac- count deficit to $137 million in the third quarter and that | figure, when seasonally ad- justed, is the lowest since the first, three months of 1974, contributed to the smaller deficit. In. the third quarter, Canada paid $2.4 billion more than it received in service payments from abroad in the third quarter. This compared with $2.7 billion in the Canada rep: The deficit, a measure of the country’s indebtedness in payments for goods and ser- vices to the rest of the world, dropped by more than $900 million from $1.0 billion in the previous three-month period. Lower payments for in- . terest, dividends, foreign travel and other services also B three, months, . On the trade side of the current account, a 3-5-per- cent increase in the yalue of exports, along with a one- per-cent drop in the value of imports, pushed the quarter- ly merchandise trade surplus to $2.1 billion from $1.3 billion in the April-June per- iod. Bank profits stay ahead of inflation TORONTO (CP) Profits of chartered banks stayed slightly ahead of inflation in, fiscal 1980 as the banks’ The Canadian Imperial Bank of Commerce, hurt by its involvement with Massey- Ferguson Ltd. of Toronto, domestie profit margins were ; experichced a préfit, decline ° squeezed by volatile interest for fiscal 1980, its after-tax-~ rates, bank spokesmen say. . balance of revenue falling by’ The eight largest Cana- dian banks had an average after-tax balance of revenue of 11.9 per ‘cent compared -with 13.2 per cent in profit in fiscal 1979. ; The Bank of Nova Scotia with a profit increase of 22.3 per cent, and the Royal Bank 4.6 per cent. The Bank of Montreal, recorded an after-tax profit it -increase of 15.1 per cent, followed closely by the Bank of British Columbia (14.6 per cent) and Toronto Dominion Bank (14 per cent), while the Mercantile Bank of Canada of Canada, at: 21 per cent, ‘ showed an increase of 6.8.per reported the best perfor- mances and attributed their profitability largely to wider margins on international op- erations, Rowland Frazee, Royal Bank chairman and chief executive officer, said the bank's profit increase in 1980 was the result of interna- tional earnings, which rose 57 per cent over 1979. Domestic earnings for the year -in- creased marginally. . The National Bank of Canada reported the worst performance with after-tax balance of revenue declining ‘ 49.4 per cent from the pre- vious year partly because of over-staffing and over- branching. The bank's prob- lems were a result of a merger between’ the Bank Canadian National and the Provincial Bank. cent, Calling bids for paving job Contract bids will be opened in Victoria on Dee: 18 for paving 48.4 km of High- way 8 between Paulson bridge and the Kinnaird overpass, Although it will be some time later,that the successful bidder is named, Highways, Minister, Alex Fraser said work will be done in the _Spring. The project will use 63,000. tonnes of gravel, 800,000 litres of spray primer - and tack coat over 150,000 tonnes of asphalt and 225 meters of culverts. "Bilent Night, ' Christmas Song Sheets are available from the AST LEN EWS 197 Columbia Avenue proposals would lead to, a greater supply and more ef- ficient use of p: But, it maintains, “in- , creased ae growth can con- “conditions that would permit Nines asia wealth, “As more active y resources — such as labor, capital and energy — thereby fulfilling the country's econ- omic potential in the 1980s, “The fact that the econ- omy has been operating be- low its capacity in recent * years has contributed to the productivity slowdown," con- eludes the council, adding ° “growth has not become a national imperative.” * But its proposals appear to be out-of-step with current government policy which ac- cepts slower economic growth as a: price for con- taining inflation. The. council concedes that the risks of inflation are higher now than a year ago. deficit in 1974 In volume terms, ex- ports rose only one per cent while imports dropped four per cent from’ the previous quarter. *":'45 Automotive products, al- uminum, lumber and natural gas all. showed large season- ally-adjusted ificreases while iron ore, crude oil, newsprint and wheat showed sharp de- clines'in value terms. SHOWS HIGHER IMPORTS Imports ‘df automotive . products, chemicals, non-fer- rous metals and agriculture showed the sharpest drop in value while higher imports of tribute ducing inflation both ‘ious, by ‘increasing supplies of goods and ser- vices, and indirectly, by cre- ating the social and économic Despite the costs poli- eles developed to improve total income must include measures to distribute the Pp im- proves and the real incomes of Canadians Increase, ten- sion over the distribution of income will ease,” predicts the couneil. : Economic recovery § slow OTTAWA (CP). — ‘An implement a number of rec- covery. is forecast for 1981. ‘83 . by the. Economic Council of Canada in its annual review released today, While the economy is expected to shrink by 0.4 per cent after inflation this year, the council says economic output will rise only 1.4 per cent next, year. The report says the economy's performance. will’ only be near its potential level in the closing years of the decade, In forecasting a dismal economic showing, the coun- to spark stronger growth in real in- comes and output through this decade. Inflation, expected to be 10.6 per. cent. this year, will remain high (in; subsequent years .— running:..between nine per cent and 9.9, per cent through 1984 — before slow- ing to 8.2 ent, a year by 1990. 4,4 : Unemployment will hover around eight -per cent through 1981 and drift down slowly to just under six per cent by the end of the decade. A worrisome sign of the cil calls on: g to 's weakness is that Murphy Creek update By TONY SIMNETT B.C. HYDRO B.C. Hydro has released the second in a series of information bulletins outlin- ing the. present status of studies to assess the feasi- bility of hydroelectric power development on the Colum- bia River near Murphy Creek. . The bulletin indicates that detailed engineering and environmental studies will be completed ii in 1981 and inter- nal i reports office, and machinery. were re- corded. While Canada tradition- ally has a merchandise trade surplus, a high volume of payments abroad for services results in a current account deficit which the government. predicts will be $6.2 billion in 1980. However, in light of the stronge: rexpected trade ‘Surplus, ‘the ¢urrent account deficit for the year could be ° lower. On the non-tierchandise trade side, the. deficit drop- ped $147 million to $2.2 billion in the third quarter aided by a further drop in the international travel deficit. The drop in the value of the dollar has curbed travel abroad by Canadians while foreigners, capitalizing on the cheaper currency, have been visiting Canada in greater numbers, Asa result, the travel deficit has dropped steadily. Net inflows of long-term capital slowed-to $491 million in the third quarter - from $593 million three months earlier because of net repay- ments ‘of -long-term . loans from foreign banks and an increase ‘in the outflow to retire Canadian bonds, the agency said. In addition, there was a net outflow of short-term capital of $283 million, com- pared with an inflow-of $967. million in the previous quate ter. The turnaround came because -non-residents. sold some of their investments on “% Canadian stock markets. prepared for Hydro manage- ment consideration by 1982, Officials cleared * By THE CANADIAN PRESS .A two-month, investiga... tion int trading.of securities , _during the controversial takeover by B.C. Resources Investment Corp. of Kaiser Resources Ltd. has cleared officials of the two companies of wrongdoing. A two-volume report to the British Columbia gov- ernment by securities: law expert Leon Getz of Vancou- ver says there were no vi- olations of B.C. legislation by Kaiser and BORIC officials and that other option trading by outsiders was within existing securities law, The report also was de-” livered to the Ontario Sec- urities Commission, which is conducting .its own invest- igation into possible insider trading. Ten Kaiser officials, whose shares were held an by a cease-trading order, will be called ‘before the ‘com- mission next March to ans- wer questions, The investigation was ordered when it was dis- closed some Kaiser Re- sources substan- Therefore, this would be the earliest date that Hydro - could make a decision on whether to seek provjncial government approval for the project. If Hydro is.granted ap- proval, the earliest date con- struction could start would be 1984 and the earliest the project’ could be in service would be 1989. If Hydro decides to seek government approval for the project, copies of the engii- earing and environmental re- ports. will be available through local and regional . governments, public libraries and B.C. Hydro district of- fices. f One of the main pur- poses of the current engin- eering study is to establish: . the best operating level for the reservoir within the range_ of. 424" metres. to 430 about: 1,390 ‘feet to 1,410 Yeet). above sea. level. The higher reservoir level would mean - greater ‘energy output from the Mur- phy Creek powerhouse, but the capital cost of the dam also would be greater. Addi- tionally, the higher reservoir level would have increased impact on Properties and facilities around its peri- meter. Environmental impacts throughout the range of res- ervoir levels also are being considered. Draft terms of reference for the environmental study were distributed by Hydro to. local, regional and provincial | governments earlier this’ year. Hydro has engaged six environmental consultants to conduct studies which, along with additional environment and engineering feasibility studies being undertaken by Hydro staff, will assist Hydro in deciding whether to seek tially increased their hold- ings in the B.C.-based coal ;company during the month “before BCRIC offered, in early September, $55 a share for a majority interest in Kaiser. Kaiser shares then’ were trading at $32 each. yY appi of the project. Since the beginning of « the present stage of project studies in 1979, contact has ‘been established with many. local and regional represen- tatives and special interest groups. . r -Frdsons Bay Company any Reg. 11.99 Rog. to 5.98 SEASON SPECIAL DARTBOARDS. SALE ....sccceccccccces ‘TOURNAMENT ~~ : x= 30° off ‘ Prices in effect until Wednesday, December 24; 1980 or While Quantities Last | Le Way Sporting Goods, The Bay, Trail produettily — output. per worker’ employed — falls sharply in‘the'coulitell's pro- jections through' 1981' and” only by 1986 and 1987 does the level match ‘the per- formance of 1977. * GROWTH TO DROP The rate of growth in real wages, which excludes inflationary increases, is fore- cast to decline by 2.2 per cent ‘this year followed by a similar drop next year and a 0.1-per-cent decline in 1982. * By contrast, the federal ” Part of the current pol- itical debate'in Canada cen- tres on how to share tho potential wealth’ of energy and other natural resources growth needs stimulation taxation eee to achieve desired economic results, The council says that under the’ present circum- stances, Ottawa cannot carry out its to pro- among have and h: it re- gions, . SHARE ENERGY WEALTH. Improved productivity growth cannot be achieved without federal-provincial . agreement on inflation and the distribution of increased wealth from higher oil and gas prices, the council warns. While recognizing the 1 vide sustained arid balanced - economic growth in all areas of the country. As a result, the report says the burden on the fed- eral treasury — now a record $14.2-billion budgetary defi- cit this year — colld be eased if Ottawa had enough oil and gas revenues to eliminate the oil import subsidy program. to the writ- benefits of fed co-operation on taxation and’ cost-sharing programs over the past 16 years, the council says the federal government- now suffers from limited manoeuvring room. For instance, federal in- come tax indexing — which cushions taxpayers from pay- ing ‘More tax simply because of ii +— and federal work- ers will not suffer real wage losses after this year. While the council .fore- casts an increase in the per- centage of output devoted to . investment, energy will dom- inate the spending boom in the early part of the decade. In the medium-term, say by .mid-decade, the ‘council says that energy investments will'help cut the current ac- count deficit — in which Can- ‘ada currently. ‘pays out $5 billion more than it takes in from its international trading partners. block funding to the prov- inces.have both limited Ot- _tawa’s scope. for- using the HOMEGOODS FURNITURE. WAREHOUSE Tues. - Sat. 9:30 - 5:30: China Creek | .* “Drive a Litte to Save a Lot” ing of the council report, the government introduced so- called blended oil’ prices: to phase out the subsidy over , time. : Moreover, the council ,,; urges that the federal deficit be, trimmed while stronger; provinces, such as Alberta,,. should ‘lower their budget, surpluses so there is a better |; balance between the federal and provincial governments’ budget strategies. {~ WE LEAD THE BLINDS in Homes and Businesses j Lbgueerbraye Vertical Blinds "© ‘Wooden Venetian Blinds _ ©: La'Petite Venetian Blinds. © Window Shades "© Shutters Verosol Sun Screens “WE HAVE ONE OF THE LARGEST SELECTION OF WALL COVERING BOOKS IN THE KOOTENAYS | winnows Phone 352-5665 to \ have your windows measured at no expense or obligation. On the Mezzanine of Modern Sew 461 Josephine St,, Nelson. - (TEL ALTE DIRECTORY | 1400 Block, Columbia Ave. Sunday Services: 8a.m. and 10a.m. Sunday School: 10.0.m. Robson Communi Church 2nd and 4t Sunday of month: 10 a.m. Rectory: ph. 365-2271 Rev. Desmond Carroll 1471 Solumbia Aves; Trail 364-011 Ragilorselceden & Sotvices | Pastor Dirk Zinner—365-264 OF CANADA 2224 - 6th Ave. 1% Blocks south of Community Complex 9:40. a.m. Sing-Song 10 a.m. Worship and Sunday School ‘| Robson: Ist & 3rdSundays Rev. Ted Bristow 365-8337 or 365-7814 2404 Columbia Avenue Church School ~ 9:45 a.m, Morning Worship Tla.m, Pastor Ira Johnson L : Phone 365-6762 : 715 - 4th Street : | Worship Service 9. a.m. ‘sunday Schoo] 10:15 a.m, Lowell Kindschy ; Ph, 365-3664 or 365-3662 Listen to thé Lutheran Hour Sunday, 11:30 a.m. on Radio CKQR MEETS SUNDAY a.m. Ph. 365-7973 352-5105 below Castleaird Plaza 1. 6317 9:50 a.m. Sunday School 11.a.m. Worship Service 7 p.m, Fellowship Service Tuesday, 7 p.m. Cottage Bible Studies Friday, 7 p.m. Youth and : Family Night Rev. “Ph gear Pastor FULL GOSPEL CHURCH . 2605 columbia Ave, Sunday: 9:45 a.m, Sunday School :00 a. am, WORSHIP SERIVCE 11:00 a.m. — Junior Congregation & Nursery Minister H. M. Harvey Phone 365.3816 809 Mae Creek Road Next to Cloverleaf Motel Castleaird Plaza eoralty plule Hour 9:4) Mering Worship 00.a.m, evening Praise 0 p.m > WED. FAMILY NIGHT 7 p.m. (for all the family) Pastor John Hill Church Office 365-3430 767 - 11th Ave rth Pastor Roy Hubbeard Church: Ph, 365-5212 Christian pdveorice Hour 9:45 a.m. Morning Worship 8:30 a.m. & 11 a.m. Evening Service p.m, Tuesday: ible Study Saturday: Young People 7:30 p.m ~ Rev. Michael Suinan Ph, 365-714: Saturday Night Maas p.m. Sunday Masses at 8a.m. and 10a.m. ST. MARIA GORETTI Genelle — 12 Noon * Olychick’ could 7 3 ‘Power shee of off raise, "The line foreman ranan anxious eye‘along the power lines as’ he patrolled “the highway between Fruitvale and Salmo for the umpteenth tinie. -‘The © trees, heavily laden ‘with snow, were’ one more break in the” power distribution system to Salmo. Last week's freak snow- storm, dumping up to 125 em on parts of the West‘Koot- _ enay, was ‘the Worst Andy Ger eas “with West’ Kootenay Power, | Salmo; Kaslo and Fritts” vale bore the’ brunt of the’ storm in terms of its effects on! the company's service, although Creston, ‘Crawford Bay, South Slocan, Trail, Castlegar, Rossland ‘and other sections were also af- fected in varying degrees. In the’ Castlegar area, - erry A hibald, Dean For- - in his'many years ‘with’ West Kootenay ‘Power, and as: supervisor’ for . the Salmo * * area, he had to cope with the problem of getting electrical - service back into area homes, some’ of'which’:had been © without light and heat, for 30 hours and more. : } The situation was “oven worse in the ‘Kaslo-Lardeau’ area, where residents. had’ only three or four hours of * power in three days. Super- visor Sam Rota hadn't: seen. anything like it “in his 88 rester and thelr crews: res- ponded to a.series of situ- vations ranging from individ- ual residence outages major area: service, Three crews) com- prising of 12. men came, in from ‘the South Okanagan, more from Grand Forks. For, many of these crows, it would be a long time before they.: could sleep, ‘ Around: the. clock : mes- ‘sages were pouringyinto the ‘company’s “war mm” at” Tadanac, telling . of. ‘more breaks in the network. ‘Trees were the ing or falling, lines, sometimes, aretia ing into - flame: as they .caused. short circuits : swithout, actually , causing an outage. The dis- Working around the clock, * they were frustrated in their attempts to restore power’ by renewed snow falling and breaking lines which had’ already been repaired. : When the seriousness of the situation became appar- ent following the storm’s ar- : rival, all available line crews _ were Pressed into emergency ¢ were well poe a5: they relayéd their’ instructions . over. the- mobile, radio: system that they were sending crews into ‘mala euprit, lean. - the ea what had to. be done —.“work as longs .you ean, then ‘when you: can't do any more, go: home ioe: a few. 9” por restored to'Salmo, and one by one, the’ people living in the remote areas were able ‘to switch on their lights and heaters once again, The Lar- ‘deau..area ‘was: findlly re- turned'to service during the weekend. In a message to all em-. ployees involved in the'crisis, West Kootenay Power's man- ‘ager of transmissibmand dis-{ KimuiDeane, ex->:” > Al ready weary, the linemen ot ten had to. striggle through. snow up to their armpits be- fore climbing a pole‘or bring- ing down a troublesome tree. There was noneed to tell during the week. SALMO SUPERVISOR Andy rohan left, points out to. assistant manager. of and distrib i, Trickey, that practically the entire power,” line from Fruitvale to.Salmo has to con-' luxe “Room | For Two For. One Night Regoler $47.00 Present this coupon’: uponarrival.. » Expires they 31, 1961 SPECIAL TEAM ond ‘WEEKEND RATES AVAILABLE Hesetvabon Phone porate stopd with tall: trees; in the distance, a : eouple of those trees can be seen bon- | ae towards the lines under the weight snow. 7 Lorne 9030 Macteog trant Ss This week's results from Joy Keillor - Bridge. Club Results of Monday night’s play of the Joy-Keillor © Bridge Club (10 pairs were in — play with an average.of 54): First, Judy ‘Sheppard and soy Keillor; 68;'second; Julie Sabourin, third, Helén ‘Batchélor ° and ‘Mary “Stewart, 59%; COMMUNICATIONS during the crisis ‘of the past few, days were the ) responsibility of West Kootenay Power's - “nerve center” at Tadanac, Andy Roberis is pictured as he keeps his eye’on the various lines at left, the system map on the far wall, and his four telephones ‘that never seemed to stop ringing. fourth, Otto Walker and Ian Portraits - taken November 18 to 22° will be avaliable: Tusucey, Dec. 9 Wednesday, Dec. 10 Thureday,Dec. 11 Friday, Dec. 12 Saturday, Dec. 13 10 a.m. to 5 p.m. 10 a.m. to § p.m. 10 a.m. to 5 p.m. 10 a.m. to 7 p.m. 10 a.m. to 4 p.m. at the Bay, Trail . on the second floor * (Children's wear) _ - Mansion comes: down. VANCOUVER (CP) — Wheeler-dealer entrepreneur Nelson Skalbania is knocking his house down and holding a bargain-basement sale at the same time. Bargain hunters have swarmed all over his South- west Marine Drive residence, buying everything from door “Knobs to tollet seats. ‘An associate, who didn't -want to be naméd, said that Skalbania didn’t like the way - be down to the bare earth,” ,said Phil Blackall of P'and B Demolition Ltd. as he burned scrap wood in the remains of a Once-magnificent fireplace... “The huge white French provincial-style house,: with shuttered windows and ivy climbing up the walls, was a spectacular view over the~ Fraser River estuary... . It was bought by Skal- bania in 1979 and has a tax bill of $12, 408. Last year he ired two hboring es- the house was “and it's being’ demolished “because his new wife wants a Greek villa.” A.week earlier a dem- , olition company moved in and Skalbania and his wife, Eteni, moved out — temporarily — to an apartment. Skalbania, 41, a real es- tate developer and sports entrepreneur, was in Florida at a location his’ office de- clined to disclose. ~ “A week from now we'll tates to bring his, total resi- detitial holdings in the area to 25 acres valued at nearly $2.5 million. Even the outdoor swim- ming pool and a guest house are due ‘for removal a few months after the main house- is down “all the neighbors have been in and they keep saying it’s wicked — they're worried about what's going to happen : here next,” said Blackall. He said the house ap- peared to be about 50 years old, but one of the previous owners, Woodward's chair- man C.N. (Chunky) Wood- ward, believes parts of the - house date to 1910. “I lived in it for seven or - eight years-and had it com- pletely renovated in the 1960s and put in a new wing and swimming pool,” Wood- ward said, It-was hard to tell at thj stage of demolishment, but it looked as though the house oncé had eight bedrooms, eight bathrooms, an enter- tainment room with mahog- _any. panelling and built-in speakers, a reception room with a ceiling of mirrors and a huge kitchen - decorated with brick and stained glass. ‘People kept shaking their heads when they saw what was going on,” Blackall said. “They couldn't under- stand why such a beautiful house was being torn down.” Reg.. $975... Reg: $549.. ft. Reg, $959... PINBALL MACHINE -ROQ. $795.52. eseeeseeeeeee SAVE $100 POOL TABLE National “Permatrue” 4x8 FOOSBALL AIR HOCKEY 6 ft. Reg. $899... c eee cence ecese ee NOW - SHUFFLEBOARD. teveeeeeteeseeeees NOW . NOW TA ROG. 8% ses cesenneeteeete Now a. L-X- EL THE HOME GAMES PEOPLE “THE FAMILY WHO Flay TOGETHER, STAY TOGETHER” 695 795 cam ABI 299 $319 419 aaa Columbia, Castlegar, Ph. 365- 14558 Bay Ave., Trail, Ph. 368-8073 THIS FRIDAY & SATURDAY ONLY - DEC..12 & 13 : % .. i . OFF © AllSleds. © AllPaintby Numbers e Anda Selection - of Puzzles: nig 8 bboy USE OUR LAYAWAY PLAN + —asmall deposit will hold say Gist ual Check for Our Weekly In-Store Specials . CASTLEGAR TOY VILLAGE “1436 Columbia Ave. 365.5678 578) Ra COMINCO TURKEY. _ DISTRIBUTION Comincs employees in the Trail, Castlegar, Kin- naird, Rossland and Fruitvale areas may pick up their Christmas Turkeys. at the ‘Tadanac Hall on the following dates and times: Wednesday, December 17 — 9:00 am. - 5:30 Mf m. Thursday, December 18 —. 9:00 a.m. - 5: 0 p.m. Cominco employees living in the Rossland area may » pick up their Christmas Turkey at the Boy eaeul Hall, ‘Spokane Street on: _ Wednesday, December 17 — 10:00 a.m. - 5:30 p.m. DISTRIBUTION AT ROSSLAND ON ONE DAY ONLY. PLEASE BRING YOUR TURKEY CARD ; Turkeys can only be given to those presenting their cards‘at the disiribution centre. “ For further information phone Trail 364-4304. i ol ger bE? GLAD TRS HUE |EAEP END? GUD ced EEE,