3, 86 Castlégar News November 4, 1987 COMMUNITY NEWS A BUSY YEAR FOR CASTLEGAR AIR CADETS By CLIFFE CHURCHES The Castlegar Royal Canadian Air Cadets have been enjoying a busy year. To date they have completed several Sears catalogue deliveries and have sponsored a very successful sports weekend, involving eadets from Trail, Nelson, and Elkford. A lot of good competition was enjoyed, as well as a good closing dance. Earlier this year, two officer cadets attended Basic Officer Qualifications courses. Officer cadets Jinny Brown and Bob Harker recently received their commissions and were promoted to the rank of second lieutenant. The squadron range officer, Dan Bush, recently completed a range course at Pat Bay. He reports that he expects the information gathered should be a great help to the squadron. Dan was presented with a special certificate of qualification. ‘The squadron parade Oct. 28 was promotion night. This is the night on which year pins are presented and individual accomplishments are recognized. Special guests, introduced by commanding officer Capt. Trevor Smith were Gordon Shead, principal of Stanley Humphries secondary school; Dennis Tucker of the Royal Canadian Legion; and officers from Trail Air Cadet Squadron No. 531 and Trail Army Cadet Corps. Presentation and promotions included: First Year Pro- ficiency badge and pi ion to Leading Ai K.D. Allen, M. Bohnet, J. Bryson, M.J. Bycroft, M. Durkin, R.D. Kerkhoff, B. McFadden, T. Pena, T.K. Roberts, R.K. Roberts, C. Rowsell, I. Thompson, R. West and G. Wilson. 2nd Year Proficiency badges to: M.A. Bacon, T.E. Bush, L. Crowe, S.R. Graham and I.K. Moore. 8rd Year Proficiency badges to: G.F. Burgess, A. Robertson, J. Rowsell, J. Vanderploeg and J. Verhaeghe. 4th Year Proficiency badges to: S. Bacon. 5th Year Proficiency badge to: D. Churches and D. Neumann. Promoted to Corporal were: Cpt. T. Bush, Cpl. I. Moore, Cap. T. Roberts, Cpl. L. Crowe and Cpl. M. Bacon. Promoted to Sergeant — Sgt. J. Rowsell. Promoted to Flight Sergeant were: Fit/Sgt. A. Robertson and Fit/Sgt. G. Burgess. The above promotions are made at the discretion of the Commanding Officer. Promotions to the ranks of Warrant Officer 2nd and 1st class require the execution of written and oral exams, as well as practical evaluation of a cadets understanding of all areas of cadet training. Promoted to Warrant Officer 2nd class were: S. Bacon. Promoted to the rank of Warrant Officer 1st class were: D. Churches. A special award of the Cherry Hall Award was made to Warrant Officer two D. Neumann. This award is presented to the top female cadet attending the cadet Power Training Course. Cadet Newmann completed her power course at Patricia Bay, during the past summer. In keeping with tradition, Herb Neumann presented his daughter with her wings. CADETS ON PARAGE.. = (left) Squadron Commanding Officer Trevor Smith presents Deanna Neumann with the Cherry Hall award as the best female student in the power flying scholarship course at the Pat Bay on Vancouver Island; (below) 2nd Lt. Bob Harker presents basic camp certificates at annual parade. Memorial service set for Rosen Douglas Lance Haig Rosen passed away Oct. 21 at the age of 17. A memorial service will be held Saturday at 11 a.m. at the Castlegar Funeral Chapel with Rev. Barry Werner offi- ciating. Cremation has taken place. Mr. Rosen was born Feb. 17, 1970 at Trail and grew up in Castlegar where he at- tended school. He attended the Castlegar Christian Academy School. He had moved to Chilli. wack to work and complete his schooling. He was a member of the Cougar Ath- letic Association and enjoyed boating and playing the piano. His is survived by his parents, Randy and Diana McNee of Castlegar; paternal Dulford father, Barry Gordon of Burns Lake; four sisters, Debbie Soles of Kelowna, Lynn Tulliani of Louis Creek, .C., and Lorelei Hansen and Laraine McNee of Castlegar; two brothers, Lorne Rosen of Clearwater and Leonard Rosen of Enderby; grand- parents, Bill and Mary Mc Nee of Castlegar and Mrs. Marjorie Mathers of Yale; and many nieces, nephews and cousins. Should friends desire, con: tributions may be made to the Castlegar Christian Academy, RR No. 1, Site 15, C-16 Castlegar or the Castle- gar Cougars Athletic Assoc. 191 Columbia Ave. Castlegar, B.C. Funeral arrangements are under the direction of the Castlegar Funeral Chapel. elected 4-H President Kyle Dubford was elected president of the Castlegar and District 4-H Club at a recent organizational meet ing. Shane Batting was elected vice-president and club reporter and, Chris Dubford secretary-treasurer. Merry graduates Private Steve Merry grad. uated from the Canadian Princess Patricia's Light In- fantry Battle School in Wain- wright, Alta. Oct. 29. Merry, a graduate of Stan- ley Humphries secondary school, was presented with the “most physically fit” award. He is presently post- ed in Victoria. Merry is the son of Robert and Shirley Merry of Cal- gary, formerly of Castlegar. He is the grandson of Fred and Anne Fominoff of Castle- gar, and Bud and Florence TTA TA Merry of Stocan, “IN-HOME” Flooring And Window Covering Service ® Horizontal and Vertical Blinds © Complete Line of Constellation Harding-Imperial & Armstrong Flooring as Well as Many Other Popular Brand Names in Stock © Roll End Specials ee Call Bill or Brian They'll come right to your home and give you a FREE ESTIMATE and bring sam- ples right to your home with their Mobile Carpet Van 365-2265 ARPETS Linoleum and Window Coverings 2313-H-6th Ave. Castlegar 365-2265 Insuring the The club will attempt to increase membership by in viting youths intérested in 4H. The club's meeting dates have also been changed to the second and fourth Friday of the month in the Robson elementary school library. The club also decided that all members will canvas the community for odd jobs in return for tax deductible do- nations to the club. PTE. STEVE MERRY ... infantryman | BUSINESS Economists see lower growth By The Canadian Press Jittery investors — unnerved by the U.S, dollar's decline — took advantage of a five-day rally on North American stock markets to cash in some chips Tuesday, sending share prices sharply lower. “There was a lot of profit-taking,” said analyst Ira Katzin, Toronto-based vice-president of Prudential Bache Securities Canada. “You can still see the nervousness in the market and the volatility will continue. Analysts blamed Tuesday's fall on a combination of rs. The U.S, dollar's long decline, the apparent lack of progress in negotiations between the White House and Congress to reduce the U.S. deficit and profit-taking all contributed, analysts said. “People are very hopeful that they saw the worst, but at the least sign of decline, they sell. I don’t blame them — it’s human nature,” said William LeFevre, a market strategist for Advest Inc. in New York. The U.S. dollar, which has been sliding to near-rec- ord lows over the past week, turned up in late trading amid rumors that Congressional Democrats were pre- paring a proposal that would slash $60 billion from the Future of Castlegar and Area since © Driver's Licences e Permits © General Insurance 1948. Autoplan Reminder sure you have the coverage you need. Coverage has for in rec for sound and communication equipment and some other per- manently attached items. Please refer to the 1987 Autoplan | Motorist Kit for details and check with your Autoplan agent to be | vehicles and ANDERSON 605 Columbia Ave., Castlegar INSURANCE AGENCIES tr. Phone 365-3392 stubborn U.S. deficit. The Toronto Stock Exchange's composite index fell sharply Tuesday, dropping 108 points before recovering to close with a loss of 74.01 points at 3,005.91. The Toronto index, which hit its recent low of 2,977.21 on Oct. 20, climbed 230 points during the previous five days. In New York, the Dow Jones industrial average fell 102 points by mid-afternoon before staging a late recovery to close down 50.56 points at 1,963.53. The Dow had gained 220 points during the last five trading sessions. On Black Monday, Oct. 19, it slumped to. 1,738.42. Tokyo stock prices slipped in light trading today as the market reacted to slide of the November 4, 1967 Casthégiar News a7 Consumers still buying Despite stock market crash TORONTO (CP) — The worst stock market crash in history doesn't seem to have the enthi of U.S. dollar. ‘The 225-stock Nikkei Average dropped 298.07 points to close at 23,060.58 yen as early selling of dollar-sensitive export-oriented electricals spread to most other sectors. ‘The U.S. dollar closed today at a post-war low of 187.25 yen, down 0.33 yen. At one point during the day the dollar was traded below the 187 level. The Canadian dollar declined today to 100.99 yen in interbank trading. The Tokyo exchange was closed Tuesday for a national holiday. ‘The U.S. dollar slid early Tuesday, hitting new lows against most European currencies and the Japanese yen. It turned around against the West German mark and made a slight gain on word that the Netherlands’ central bank cut its discount rate one-quarter of a point to 4.25 per cent. That move prompted rumors that the West German central bank, the which often its actions with its Dutch counterpart, will also lower its discount rate after a meeting Thursday. The U.S. dollar, which hit a new low of 136.20 yen early Tuesday, closed in Toronto at 137.50. The Canadian dollar took a pummelling, falling more than a half a cent to 75.40 cents US before recovering to 75.57 cents US at its close in Toronto. Stock listing makes Kerkhoffs millionaires VANCOUVER (CP) — The Kerkhoff brothers — best known for their hard-line anti-union, free-enterprise stance — have become in- ‘stant millionaires by listing their construction company on the American Stock Ex- change. Even though Kerkhoff In- dustries Inc. went public in the midst of the stock market crashes, the British Columbia company’s owners are rich — at least on paper — because its share prices remain high- er than what the company would fetch if it were sold Alcohol warning rejected OTTAWA (CP) — Brewers and distillers have rejected a call by the Commons health committee for warning labels ‘on alcoholic beverages. “I don’t think anybody who consumes alcoholic bever- ages needs to be told that drinking and driving isn’t an acceptable practice any more. That message is well- communicated,” Sandy Mor- rison, president of the Brewers’ Association of Can- ada, said. Ken Campbell, president of the A iation of Canadian outright. The Vancouver entrepre- neurs said they went to the ‘American exchange because they were given a better deal by a New York broker than they were offered locally. The company now is in the process of being listed on the Toronto Stock Exchange. One million shares were issued to the public at $5 US each, and rose quickly to a high of $5 3/8 before plung- ing to a low ‘of $2 5/8 because of the crash. The company’s book value — net worth after liabilities are deducted from assets — was just under $1 million Cdn prior to the offering. At the $2.75 stock price, the stock market is. valuing the company’s 2.89 million is- sued and outstanding shares at $7.9 million US or $10.5 million Cdn. The four brothers — presi- dent Willem (Bill), 36, and vice-presidents Maarten, 33, Dirk, 31, and Peter, 27 — each own 385,491 shares, or a total of 53.4 per cent of the company. NEW MILLIONAIRES This week's closing price means each brother has shares worth $1.4 million Cdn. The company gained prominence in British Col- umbia’s volatile construction industry by underbidding joni: construction firms Distillers, agreed that warn ing labels are not an effective way to reach alcohol abusers. “The danger of a warn: ing-label approach is that the on major contracts including the Pennyfarthing condo- minium project. on Van- couver'’s False Creek, con- struction at Expo 86 and on the Cs ihall. i authorities, the will think they're done some- thing and it will divert them from where the real payoff is — education.” In a report tabled in the Commons earlier Monday, the committee said producers of alcoholic beverages must accept greater responsibility for the prevention of alco- hol-related problems. Robert Solomon, a Uni- versity of Western Ontario law professor and drug ex- pert, said warning labels would only be useful to identify some of these lesser. known dangers of alcohol Cominco purchase shelved Pine Point Mines Ltd. and Cominco Ltd. have an nounced that in the light of the current unsettled eco- monic conditions they will not proceed at this time with the proposed purchase by Pine Point of an interest in Cominco’s Polaris mine, mill and associated explora. tion properties. A government inquiry is under way on massive cost overruns on the Coquihalla. Dramatic clashes between Kerkhoff and union pickets at the Pennyfarthing site were broadcast on network tele- vision in 1984. The building trades unions, Sharp opposes free-trade deal OTTAWA (CP) — A for- mer Liberal cabinet minister told a Commons committee Tuesday that the proposed free-trade deal will erode Canadian sovereignty, but a leader of small business said sovereignty will be enhanced by economic growth. Mitchell Sharp, former finance and external affairs minister, said the undeniable economic benefits of free trade with the United States will be outweighed by the cost in Canadian sovereignty. Canadians will be marg- inally better off under the proposed trade agreement, he said, but the price will be a Canada that will -be even ‘Canadian consumers for new ears, houses or even swim- ming pools — at least for now. Retailers say sales of big- ticket items appear to be over last year,” said Robert Herrington, general sales manager at Ontario Chrysler 1977 in Cooksville, Ont. “The stock market fellows are af- fected, but the little guy, he doegn’t really care what's going on. “He has no money in- vested. He's just plugging along, like I am.” Even some luxury items more Dworkin Furs. Lamesse. of Mermaid Pools and Spas in Nepean, Ont,, had two with people interested in buying pools. “If you sit back and worry ‘about it, you might as well go hide in a little hole,” he said. Lower interest rates have contributed to the buoyant mood. INJECTS MONEY Borrowing costs fell sharp- ly last week as central banks in Canada and the United States injected more money into the economy to stem the effects of the stock market plunge. Consumer confidence has been strong all through 1987 “and it was at its peak on Oct. 18, the day before the crash,” when a survey by Environics Research Group Ltd. was weather than the stock mar- ket, and the recent cold snap has been good for business, said Denis Letourneau of said company vice-president Donna Dasko. “I would expect there would be some erosion (of consumer confidence), but we're really looking at some- tures,” predicted a report by thing that's ” she Bache said. The repercussions of Our Action Ad Number is 365-2212 TYPE SETTING Give your news ers. meeting bulletins, etc.. o professional appearance Comera-ready type for photoce CASTLEGAR NEWS 365-7266 which had built the first phase of the luxury apart- ment complex, were enraged that Kerkhoff had invaded what was traditionally their turf, but lost their battle to drive Kerkhoff off the pro- ject. A disclosure document filed with the U.S. Securities and Exchange Commission in conjunction with the public share sale shows the Kerk- hoffs’ road to riches hasn't been easy. ‘The company, which start- ed with a.$700 kitchen ren- ovation contract in 1970, suffered substantial losses in 1986 because of an “aggres- sive” corporate strategy to move into the big leagues of the B.C. construction indus- Telecommunications device for the deaf: 1-800-387-0617* Trade: Canada's ae ,t—<“i‘i‘iS Cre « Future For publication orders call For enquiries call 1-800-387-0660" “SS Z& 1-800-267-2006 *8:00 a.m.—8:00 p.m. EDT, try, the prospectus says. BID LOW The company deliberately made “lower-than-usual” bids ‘on major public and commer- cial projects, and this played a role in the company’s in- creased debt load and $2.5-million US loss in the year ended May 31, 1986, it says. “With the company having demonstrated its capability and performance in these markets (in 1986), benefits now are materializing with improved margins, as re- flected in the financial results for fiscal 1987 (ended May 81),” the prospectus says. Kerkhoff Construction showed a profit of $4.3 mil- lion US in the year ended May 31, with $3.1 million of that considered extraordi- nary because of transactions that included a debt settle- ment with the now-defunct Bank of B.C. The $5-million US injection from the public offering will help the company pay off some debt and allow it to do twice as much construction work in the future, the pros- pectus says. more Americanized and under increasing pressure to harmonize such economic policies as exchange rates. Sharp said he is arguing the case against free trade on sentimental grounds. “If we didn’t have senti- iment, we could join the United States tomorrow.” But John Bulloch, presi- dent of the Canadian Fed- eration of Independent Bus- iness, said the deal would en- hance Canadian sovereignty because it would strengthen the economy. “The fact that we are going to expand our two-way trade 10 to 20 per cent doesn't mean we're going to be any less" Canadian,” he said. ings introduces a new 18 Kosten sepoe ith more earnings ential than ever. At Kootenay Sevings. you receive your interest at the time of deposit, so you can treat yourself to something special, or carn even more money by re-investing month term deposit w ‘Where You Belong It's the smart alternative to Cunte Savi Bonds, with a minimut depen of $1,000. All deposits are fully guaranteed by the Credit Union Deposit Insurance Corporat ‘our new 18 month term deposit today and let your money work for you. tion Fund. Ask about Denver -Waneta Plaza: Kaslo