1 B6 CASTLEGAR NEWS, October 9, 1983 BUSINESS _ TORONTO (CP) — High interest rates will hold back expansion to some extent, but won't pose any real past. "high interest rates, based on what bas occurred in’ the ECONOMY ADAPTS Data h The Aerie over the future course of the recovery: ‘the is (of mare: than academic interest ‘because it has im- for. of Canada. In a forecast that differs markedly from a pessimistic assessment by the Confer- feels that while interest rates will remain high relative to the inflation rate, the econ- ‘omy will adapt to this and. operate more flexibly. “In our view, it is much . More likely that interest rates or inflation will adjust government budget : Racial obstacles to growth seit Finance Minister londe's' April budget ensure | that federal revenue will in- psec over the next few "He thinks interest, rates. we ch for further detalls regarding our 1 MeN DEWAIK SALE OCT. 20 -221 Clay Castle ‘903 - 4th St., Castlegar ‘15% Price Reduction 1016 - 4th Street, across attom the Post Office. Credit Union lip Creston 9-5 eiof the, Rebels’ penalties to - “The Rebels continued their fine play and bagged the _— Perehudoff beat Creston's Fuller. Cheveldave and Mike ‘growth will be three per cent this year, 5.1 per cent in 1984 and 8.1 per cent in 1985, The firm said it envisages the real rate of expansion be- tween now and 1988 will average 35 per cent, com- . sumptions about economic activity. In this case, the Conference Board appears to have taken a more serious view of the consequences of of huge sums that would need to be raised in domestic and argos capital markets to : “Recording to Thomas Wil director of economics for the son, an adviser to the firm firm. q and director of economics at . eee By ANDREA GORDON ‘The Canadian Press The world’s most precious metal appears to be losing its lustre and analysts are hard pressed to pinpoint when another “golden age” is likely to set in. But most agree the price of gold bullion, which sank to below $400 U.S. an ounce earlier this week for its lowest closing level ina year, may not have bottomed out yet. . Gold — considered a traditional hedge sguioet has been inflation and value for the last seven optimistic forecasts about months, mainly because of inflation. Concern during the last few days ‘that heavily indebted countries might sell some of their gold reseryes and add to world supplies in order to pay their bills has Gold may be losing 'lustre' sent shock waves through the stock | market in’ South Africa — one of the world's leading producers — and gave more t momentum to the ica decline at the junior : =] : = where é roughly 75 por eat of lied eoorere reel in gold = mining. = The gold index’also pulled ‘the composite index at 2 the Toronto Stock Exchange (sharply lower and = contributed to a decline on Wall Street. : = CRITICAL LEVEL = Some analysts warn it could:be awhile before gold a gets back on its feet because once it slides below the $400 = psychological “support” area, people panic and,gell even’ = ce aul, vertes Cosimo Gore fartbe = Alex Doulis, golds analyst’ with Daly .Gordon 3 ies Ltd. of Toronto, says. continued-nervousness is =I also exerted And as long as U.S. on the p metal. interest rates remain high, market Players are more likely to put their 1 wueney, into the steady U.S. dollar or higher yielding. bonds than gold.related Fecerat Gold got its worst dose ee sa, i Monday, when the price of bullion traded in London fell to $891 U.S. an ounce: At the same time, gold contracts for current delivery on the Commodity Exchange in New The drastic drops that opened the week's trading Workers ‘sell’ their jobs GUELPH, ONT. (CP) — Imperial Tobaced Ltd. work- ers now have the option of - “selling” their jobs. Imperial is offering 81 af i TATA ATCT NMHC likely to take gold to as low: as’ $850'an ounce before it climbs back up to its current range within a year. Gold isn't likely to react much to international crises either because the U.S. dollar ‘has become so strong and easily convertible, it has more or less taken over py tha role. it gen SES Henin Sea eae troubled area, I think you'd probably be more inclined to bt lpeetuarstet etd ee Cheques than a bag of geld" Doulis said. Patrick Mars, mining analyst. with, Toronto-based Alfred Bunting and Co. Ltd., Said last week gold was just “hanging on by its fingernails at $400.” Debt-free despite recession MONTREAL. (CP) new generation of turbo-prop: 8,800 engines in 198%; a engines for commuter air- company record, and had craft this winter, having al- 8,400 employees at its spraw- ready signed up a majority of Hing plant in suburban Long- ueuil. | the potential customers. peal debt-free and profit- kaa by oedY Clio lion this year on research and the W workers p: of $20,000 to $40,000 to give up their’ jobs as a way of averting layoffs at plants in Guelph and Quebec City. ‘The company has made the proposal to some of its 885 Guelph employees to reduce the work force because of de-: clining cigarette sales. It is open until Dec. 30. “It covers manufacturing jobs and non-trade categories and is voluntary. — they have the option to sell their jobs,” said Guelph manager Mike Courtney. The program is not in-. tended as an early retire- ment plan. Anyone employed in the plant for up to five years will get a $20,000 pay- ment for quitting. Another $1,000 is added for each year of employment toa maximum of $40,000. Give the United Way. Compliments... CASTLEGAR NEWS manufacturer is confident it . of The company claims al- Then came ‘the recession. most 60 per cent of the world Production dipped to 1,600 gasturbine market, thanks. engines in 1982 and is ex- largely to, its veteran. PTS pécted to bottom out at 1,200 engine, variations of which’ this year. A series of layoffs are powering most of today’s luced:'the workforce to state-of-the-art planes. , sh Pratt and Whitney re-' ‘Alth the company on- a can expand its the world market for: ‘eas turbine engines. A subsidiary. of United Technologies Corp. of Hart- ford, Conn., Pratt and Whit- ney will begin producing a . by almost Bee kes tocalied B03 : Z 820 fuel-efficient commuter en- ' Pratt and Whitney built gines. i GOING CANENG: GOING FISHING? GOIN ASUZUKIS}410 A.M. WHEELS Highway Drive, Trail 364-0202 Bank of Canada | rate drops .04 OTTAWA (CP) — ‘The | Bank of Canada rate slipped this week to 9.45 per cent: from 9.49 per, cent set last week but the dip was not.ex- pected to lead to declines in other rates. + The bank rate is set a quarter point above - the average yield on Latin fed. eral treasury bills each Thursday. ‘Through its vactions in the market ‘the Although the: bank “has. kept interest rates relatively stable for the last six months, there has been some easing Bank of Canada virtually sets ‘| the rate wherever it wants ‘_ other rates should move. lors Me Acres, fromjcc. eee ee eee ee $6,000 4 LAKEFRONT Hecen Wom soosr os $30,000 Located ina bey of an island. +.” Duncan Lake, B.C. O'miles north of peeteney Lake © Water and feed acces. s@ of a marina facility. * Community water wel yerage approved by se; plc field. Parking compou ee COR VEMING. 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(AP) = The U.S, ‘border patrol caught: the : Seattle Breakers “offside! this week,. but let them escape the pen- alty box in what the hockey team owner called” a: bir- eaucratic mixup. The incident: occurred Breakers about to roll when border patrol officer Walter Blauser s'saw the bus ceed while ‘on’ his nightly rounds. The hockey players told him they. were lost and. having transmission trouble. Blauser offered to escort them to the Lynden, Wash.,, border station, and en route radioed to the Sumas border officers, who filled’ him in’on the team’s problems. Just before the Lynden entry, the driver “faked a (bus) breakdown,” said Char- les Geer, deputy, cehief patrol agent. “One of the team told the officer that his crew needed to push the bus to get it. going,” Geer said. The four that had been turned back earlier left the bus and were crouched down, ready ‘to flee, but gave themselves up when officers yelled at them. “They were good boys who stopped right awdy and call- ed the officer ‘airy’ " Metzgar - said. The players were returned to Canada but later were al- lowed to return to Seattle for a Thursday night game. The team owner, trainer and coach were placed under administrative arrest for il- legally transporting aliens, then released after a call to the U.S. attorney in Seattle, Geer said. John team jeame at Gad midway point. ee ‘notched the goal, with help from Perehudoff and Morris. +) Alittle more than 24 minutes later Brad Van Goor. ‘bpat Creston goalié Ron) Fuller for the Rebels’ second marker, this time with Cheveldave’and Kevin Kirby tting assists. , a HAVING FUN... Young minor hockey league slavar of teams taking part. = cotirs (haley divi Gralla a'summer off, Minor hockey play has started up te the winter with a full slate ae golf final "VIRGINIA WATER, ENG: - LAND (REUTER) = Aus ‘tralian Greg Norman scored © - ‘av dramatic upset win over. “heavily-favored Spaniard Severiano Ballesteros on Sat- urday and qualified to meet Nick « Faldo of Britain in to- ‘day’s final of the World Match Play golf champion- ship. . ‘The 28-year-old. ‘Austral- ian, winner in 1960, thwarted the Spanierd’s bid to become the first man to take the title three consecutive years with a one-hole triumph in & ‘86-hole .battle in which he never trailed. Faldo, 26, reasserted: his command over New Zealand veteran Bob Charles in the afternoon round to score a 6 and 6 victory after having a six-hole advantage reduced to two in the morning. The tall, blonde Norman started the semifinal a def- jinite underdog against Ball- esteros. But after taking’as three-hole lead early in the match, he was always in control. “One hundred per cent owner, said in a telephone interview that no arrests had been made: and called the. incident a minor bureaucratic matter. got - me through,” he said. i “On a cold, wet day against the best player in the world, I knew I had to concentrate completely. “[ played thinking golf to- day.” 5 \ Ballesteros was still trov- bled by ‘cold. “Tm pleased to have got as howl players drove on to the fair- way and as they walked up, rain, which had been inter- mittent all day, became heavy. “Not many players would have done as well... “Greg played well enough to'beat me, but he was not really at his. best.” Norman, who had a car- tilage operation in May and, by his own made a short and tothe right, not far from where he chipped in . from 50 yards to draw level | with U.S. veteran Arnold . Palmer in the first round on Thursday. Norman, was pin high, about 15 feet from the hole. mistake by resuming tour-, nament golf three weeks later, took advantage of the - Spaniard’s typical slow start to win three of the first five holes,“ Ballesteros pulled back the deficit by the 14th and it re- mained tight the rest of the way. Twice Norman took a one-hole lead ‘and ‘each time Ballesteros levelled, the last time on the 83rd hole when he sank his best ‘putt of the day from 30 feet. 3 But the drove up Ball pitched up to five feet from the ‘hole, and Norman putted.the same dis. te tance past. It was the Australians turn to putt first, and he: gave Ballesteros no chance ‘by sinking it for a birdie four. “Tomorrow will be another tough match,” Norman added. + “I'l'be playing the crowd as well as Faldo. “I just hope they let the best player win.” He was referring to the incident on Th when against a fence at the 571- yard 35th hole and needed three shots to reach the green, Norman was on in two and. won the hole when ‘Ballesteros missed & desper- ate attempt from 30 feet. At the last hole, another par-five of 602 yards, both Faldo beat Australian Gra- ham Marsh after his ball was thrown or kicked back on to the 16th green by someone in where it lay,’ but Norman said he would not have. second was cf tying goal at the 6:41 point on a shot by Perehudoff. Morris picked up the only assist, x 2 ‘The Rebels scored three more goals before the end of the middle period, giving them a 6-8 cushion heading into ‘the final frame. Rod Horcoff scored the fourth goal at 7:42 with help from Darrin Hafner. Scott Jones then added a goal with Kelly Hurd recording the assist. The final goal ‘of the period came from Wayne Popoff, with Perehudoff ‘and Morris assisting. The Clippers tried to get back into the game, in the’ third period and'scored the first goal of that period, but the’ Rebels managed to maintain ‘their lead) when Corbett assisted. Cheveldave then ‘scored the Rebels’ eighth goal ‘unassisted, while Hurd scored the final goal, combining with Horcoff. Dave Kinakin played goal for the Rebels, whose next game is today at 2:30 p.m. when they play host to the Elk Valley Raiders at the Arena Complex. “ ICE CHIPS: The Rebels have picked up yet another defenceman. He's six-foot, 220-pound Terry Taylor, re- ° cently cut by the Victoria Cougars of the Westarn Hoskey League. He is in Castlegar now, but will.be kept out of action for another three or four weeks because of.a pulled achilles tendon. Sox squander chances and AL championship | CHICAGO (AP) — Tito Landrum, Dat in place of the injured Dan Ford, hit a one-out homer in the 10th inning to. end a long, frustrating game that finally fell to Baltimoré, 3-0" Saturday over Chicago White Sox, giving the Orioles their sixth American League baseball pases nee) 1966. ’ The Orioles had after another agairist White Sox eft bender Britt Burns, and they finally ended it on an unlikely: note. : “Landrum had hit only one honie run in'41 at-bats for the Orioles during the regular season after being acquired from St. Louis Cardinals on Aug. 31, the final day for eligibility for ‘the playoffs. He wouldn't even have started except that Ford reinjured his right foot in the Orioles only loss of this series in the first Burns, who had struck out eight and walked four, fanned John Shelby to start the 10th, and he had the count 1-0 when Landrum hit, his fourth major league homer into “the upper deck in left field against a howling wind. The homer chased Burns in favor of Salome Barojas, ‘who yielded consecutive singles to Cal Ripken, Eide a Murray and: Gary Roenicke, the last‘driving in Baltim in this clinching | ‘game. was ibrar Tippy: Martinez, who’ pitched: the final four innin, E ‘The game was the seventh in ‘Aneran Lessue championship series history to go into extra innings, and Baltimore'has been involved in five of them, winning four. The only other game to go into extra. inn’ igs in a scoreless tie was in 1969 when Baltimore beat Min. esota in 11 innings, 1-0. The victory was Baltimore's third in a row after losing the first game at home to LaMarr Hoyt, 2-1. Baltimore won the second game at home 4-0 and beat the White Sox here 11-1 in the third game here Friday: night. The Chicago offence was. further hampered by the ‘absence of outfielder Ron Kittle who missed the game with a swollen left knee, the spot where he was hit by a Mike Flanagan pitch Friday night. The White Sox got a runner as far as third with two out in the third inning, but they came up dry. With one out, Julio ets back into the action after ; ANDOVER, MD (AP) — Bob Bourne Islanders to a come-from-behind 8 — 7 victory over Washington Capitals in National Hockey League action. Bob Nystrom scored twice arid assisted on another goal in the third period for the Islanders to lift theit record to,2 —1. + Washington, 0 — 2, led by as.many-as four goals early in the game and was still up by three when the Islanders began their comeback. ; Bourne's winning goal was the first overtime goal to be seored in regular - season play in the NHL since. 1942. Overtime in regular-season NHL games was reinstituted this HARTFORD 4BOSTON 3 HARTFORD CONN. (AP) — Bob Crawford scored the goals Saturday and Hartford Whalers shut down the Boston offence early for a 4 — 8 victory over the Bruins. Close forechecking paid off for the Whalers as they held the Bruins to one shot on goal in the first 14:88 of the game. Doug Sulliman opened the scoring for Hartford at 6:22 of the period, taking‘a cross-ice pass from Ron Francis and beat Boston goalie Pete Peet fora wilh an 18 foot wrist chet Cruz, walked. ‘He had stolen 87 bases during the regular season, and he stole another one Saturday. When Rudy Law, who had seven hits in the first three games of the season, hit - a fly deep to right, Cruz advanced to third. But he was stranded there when Storm Davis got Carlton Fisk to pdp up to first base. + -The Orioles had two men aboard in the second inning, but .they, too, came up’ empty. Murray led off the inning with a single off Burns, who then walked“Roenicke on four pitches, He struck out Ken Singleton, Rich: Dauer lined to left, and Todd Cruz grounded into a forceout: Julio Cruz singled and stole his second base — tying an American League playoff record held by many — in the fifth inning. His hit came with two out, though, and after he stole second, Law popped to short contre: Phillies slam . Dodgers: 7-2. ee PHILADELPHIA (AP) — Hot - hitting Gary Matthews smashed’ a three - ruri Home run and Sixto Lisabe’ added. . a tworun shot Saturday night, leading Philadelphia to a7 - 2 victory over Los Angeles that clinched the National League pennant and sent the Phillies into’ the Baseball's World Series. Philadelphia, celebrating its centennial season of prof- essional baseball with its fourth league title, opens the con series on Tuesday night in Baltimore egainst the Amer- scored a power-play while twice Saturday night as Quebec Nordiques recorded a ; ‘goal at 2:01 of overtime Saturday night to lift New York, : National Hockey League Triumph over Buffalo Sabres. It was a measure of revenge for Van Boxmeer, in his 11th NHL season, who was left unprotected by the Sabres in last week's waiver draft and Quebec chose the veteran, whd scored six’ in 1982-83. He rewarded his new employers by scoring twice in a.. four-goal,.second-period outburst that enabled the Nordiques ‘to win for the second time in three starts. Quebec put the score far out of reach by scoring three goals in the final 90 seconds of the game: FLYERS 6 MONTREAL 3 MONTREAL: (CP) — Philadelphia Flyers spotted Montreal a 2— 1 lead then buried the Canadiens with five straight goals to beat them 6 — 8 in a National Hokey League hockey game Saturday night. je Canadiens, on goals by Guy Lafleur and Mats Naslund, held the 2— 1 lead for a little more than two minutes in the second period before the Flyers’ scoring barrage. Dave Poulin tied it at 4:58 while Ray Allison and Glen {Cochrane made it 4 — 2 after two periods, with Paul Norm Dupont made it 2— 0 when he put in the rebound*Holmgren and Bill Barber -adding’ third-period scores. of a Ray Neufeld shot after a 2-on-1 when he put in‘the rebound ofa Ray Neufeld stiot after.a 2-on-1 break at 11:45. Crawford scored his first goal 4:80 into the second period to make it 3'— 0 Hartford before Boston answered with two consecutive goals. DEVILS 6 DETROIT 3 j DETROIT (AP) — Jan Ludvig scored his'second goal of the season and assisted on three others to lead New Jersey Devils to a 6 — 8 vietory Saturday over Detroit Red Wings, spoiling the Red Wings’ home opener before a record crowd of 18,955. ‘ “ Ludvig converted a pass from’Don Lever midway through the final period to give New Jersey a 5 - 2 lead. The 22-year-old forward earlier set up goals by Jeff Larmer and rookie Pat Berbeek as the Devils overcame an early.1 — 0 deficit. - Greg Smith opened the scoring for Detroit at 11:18 of the first. period, but Phil Russell tied the score for New Jersey with his first goal 8:05 later. QUEBEC 9 BUFFALO 2 QUEBEC (CP) — Anton Statny scored three goals, defenceman John Van Bokmeer and Dale Hunter each scored Rookie Ron Sutter, with his first goal of the season, a had given the Flyers a 1-0. first period lead. RANGERS 6 PITTSBURGH 1 PITTSBURGH (AP) — Mark Osborne and Jan Erixeon scored third-period goals just over a minute apart and goalie Steve Weeks stopped 36 shots as New York Rangers won their third straight game of the National Hockey League season, beating Pittsburgh Penguins 6 — 1 Saturday. New York helda3—1 CRIED es game away with two goals in a span of 1:12. Osborne scored his second of the year at 8:46 after Mark Pavelich won'a faceoff on a power play. i BLUES 4 CHICAGO 1 ST. LOUIS (AP) — Jorgen Pettersson scored one goal and set up Pat Hickey’s winning goal as St. Louis Blues defeated Chicago Black Hawks 4 — 1 Saturday night in the National Hockey League. Pettersson beat goalie Murray Bannerman 35 seconds into the third period, after setting up Hickey midway through the second period. Bernie Federko and Brian Sutter also scored for St. Louis.