COMMUNITY NEWS Castlégar News June 15, ram The Premium Savings Account h Yield With lexibility! re Hig CASTLEGAR SAVINGS CREDIT UNION Your Community Financial Centre” CASTLEGAR SLOCAN PARK 601-18th St., 365-7232 Hwy. $, Stecon Pork Insurance 365-3368 intiomene! 32 7216 ‘ADDRESS ary POSTAL CODE AGE OCCUPATION Gontemen. | ar PHONE SEND TODAY TO: CANADIAN CHINCHILLA P.O. BOX 1684, ST. MARYS, ONT. CANADA NOM 2V0 / TEL: (519) 229-6117 NAME ene Reg ot oe "AOULTS OmY PEASE) Tom aseate a est fun fa — west the wong samen € ALLS coir 2 Days/2 Nights Return Airfare Airport Transfer & Much More. Rates effective until June 30, 1988 For Reservations call: 1-800-663-2515 Or Contact Your Travel Agent Students learn about forests From $241 Per Person Double Occupancy ment and harvesting of B. forests while participating day-long field trip last week veloped by SHSS staff mem| resource officer. West’s Travel Agency ||: 1217-3rd Street, Castlegar 365-7782 During the course of the d Rick Biller conducted a tour active logging operat: Henne Travel 1410 Bay Avenue, Trail 368-5595 vesting three to four hectat daily. lined the volume of timber | TAKING A READING .. . Fellman shows students how to ‘sunto’ to calculate height More than 160 Stanley Hum. phries secondary school Grade 10 students gained some first hand knowledge of the manage- a de- ber Doug Carter and Dave Fitchett, Ministry of Forests and Lands lay, of ion where students -had an opport unity to observe a mechanical feller-buncher capable of har res At another station, pest man- agement officer Dan Reibin out- jost annually to the Mountain Pine RY, ERR INTRODUCING Introductory Offer On Royal Albert's New Patterns of English Bone China Profile Enig Aurora, Tigra. Fantasia. ROYALALBERT OPEN STOCK sat DQ si: Wn Prices (Department Store) Store 1217 Se) Castlegor © 365-7782 WWWWWWWWWWW WWW WWW: (Rage: GETTING TO KNOW THE FOREST Forestry resource officer ee DRILLING TIME... . Bettle and the range of manage. ment-control options used to combat it. Under the supervision of re source officers Doug Fellman and Bill Cumming students learned and practiced a range of Tricia Jensen uses in- crement borer to take sample of tree. Sample tree and eventually determine volume of timber of a given area. is then used techniques used in determining the volume of timber in a sample area. Finally; all students aided in the regeneration process by planting over two hundred seed. teristics of tree, to determine various charac- including age. lings. These field activities were developed to support concepts in the new Social Studies 10 course and to give students a greater understanding of the processes and planning involved in man- aging our forest resource. BUSINESS June 15, 1988 -VSE's latest scam soils reputation By MICHAEL BERNARD Press VANCOUVER — It's been called “Las Vegas of the North” and a “crap shoot,” but editorial writers have had to dig deeper lately to coin a new set of adjectives for the scandal-plagued Vancouver Stock ‘Exchange. Local columnists- have dubbed the junior exchange as everything from a “malodorous onion” whose layers of corruption must be peeled away, toa dung-heap and a “ ebucket.” One writer castigated Finance Minister Mel Couvelier’s attempts to defend the stock market, under daily attack in the B.C. legislature, as akin to “defending the Happy Hooker's virginity.” Even Vancouver securities executives admit the latest seandal in which two promoters bilked a Texas mutual fund of $27 million has blackened the h s already “There is no doubt that anytime you have a scam | or a scandal, that damage is done,” said Chan It’s a familiar pattern. A small group of promoters run the market by buying and selling shares among themselves to attract other investors. Having driven the price up, promoters sell out, leaving unknowing shareholders to ride the stock down. Promoters of International Tillex Enterprises Ltd., used that technique in 1985 to boost the stock to $77 a share from a mere 20 cents. More than $172 million in stock certificates were later rendered worthless. DEFRAUD INVESTORS The latest shell game came to light during the United Services Funds trial in BC, Supreme Court in April. Vancouver promoter Edward Carter and David Ward of Toronto, with the help of a Texas mutual fund manager they bribed, defrauded investors in 1984 and 1985 by investing in more than 20 worthless companies they controlled. Last month, Madam Justice Mary Southin ordered the pair and four others involved to pay that could total $16 million. senior of Vi "s Canarim Investments Corp., which underwrites about 50 per cent of new listings on the exchange. Buckland, like other defenders of the exch says critics forget the millions of dollars the VSE has raised over the years for legitimate companies. Murray Pezim's International Corona tops the list of VSE successes. He used a penny mining stock with no assets in 1980 to develop the huge Hemlo gold fields in northern Ontario. LISTS THOUSANDS The Vancouver Stock Exchange, founded in 1907, now lists more than 2,400 companies. Montreal and Toronto, as senior exchanges, set higher requirements than Vancouver for working capital, shares’ market value and minimum assets. In Toronto's case, those higher standards came after several scandals in the 1960s, including the Windfall Mining caper which saw several promoters jailed. When Toronto closed the door on speculative stocks, many of the penny promoters, good and bad, moved to Vancouver to set up shop. Even before the influx, V: had The exchange and the B.C. Securities Commis- sion were also under fire after the commission lifted a ban that had prohibited convicted cocaine trafficker William (Fats) Robertson from buying and selling any securities since his conviction 16 years ago. The decision is being appealed ‘by the Superintendent of Brokers. VSE trading figures suggest such woes are slowly taking their toll on the exchange’s business. At its peak in 1983, the VSE traded 2.1 billion shares worth $4 billion, about 10 per cent of the total dollar value of all equities traded on Canadian exchanges. In 1987, its share of the Canadian market place had shrunk to 82 per cent of volume and 5.1 per cent of value. In May, its share of volume dropped to 31.3 per cent and value to 4.2. VSE president Don Hudson says a drive by the Toronto exchange to woo junior companies changing investment patterns are the major reasons for the shift. established its own style of business — companies on the exchange are more likely to promise future riches than show proof of past performance. » the k hed an “action plan” in which it vowed to review regulations, including those governing insider trading, off-the- floor trading and even member ethics. 20.9 Cu. Ft. "Genuine" UPRIGHT FREEZER “Extra Fast" with Freezer Battlers as part of the shelving. Price . ... @ tradition of quality for over 50 years! The finest freezers available sere. 28" DON’T FORGET FATHER’S DAY a a] rt Carl's Drugs CASSETTES ye S$Q4P xe $09 CARRYING CASE $795] 10 SHOWER MASSAGE SALE saa REVLON COSMETICS Assorted ENGLISH LEATHER Sets or Singles .. TOTE BAGS Or Carry-On Bags Reg. $59.95 ee — Sunday, June 19 EXECUTIVE BRASS 4 Scissors, Staplers Letter Openers, Etc GOLD PLATED Money Clips Golt & Tennis SOFTSIDE Reg $74.95 SALE $59.95 BEAUTY SET TRAVEL BAR Philips Ladyshave. Reg. $79.95 Reg. $69.95 SALE $54.95 FOOD PROCESSOR Engraveable English Oskar. Sunbeam. Reg. $99.95 NOVELTY CLOCKS BEER STEINS $24.95 - $59.95 Toys | Look for Red Ticket Sale Prices!!! FACIAL TISSUE Pocket PHOTO 3/49° NY PRICE ceswenie Y PRICE BAGS Corduroy 20% or Special $24,95 GIVE A CUP OF CHEER CHLOR-TRIPOLON ALLERGY RELIEF Mugs from Hallmark Special Prices & Bonus Sizes HAIR SPRAY Final Net *3.99 CHANGE PURSES DIAPARENE Reg. $5.99 *3.59 FACE SOAP Clothe 200»... sae *Bo9D 225 mt _ ALWAYS Thin Moxi. 303... sate "4h. 9D Jergens. 4s *1.49 HAIR LIGHTENER SHAMPOO *1.98 Super Sun In *4.95 With Conditioners Sesome St. 300 mi IVORY SHAMPOO Giawn 5290 MORE GIFT IDEAS FOR DAD! Canadian Heritage Books — B.C. is good reading! Stamp Albums and Accessories — Presentation Coin Sets Pool or Patio Bar Sets — Special $24.95 Pool or Patio Thermal Server Sets — Special $19.95 SOMETHING FOR EVERYONE!! CARL’S DRUGS ENTER TO WIN Westclox, Batter Quartz Wall Clock Castleaird Plaza 365-7269 Quintette balks at cuts VANCOUVER (CP) — Quintette Coal Ltd. is challenging the juris- diction of an arbitration tribunal con- sidering a request by Quintette's Japanese customers for a price re- duction. Quintette filed a petition in British Columbia Supreme Court claiming the tribunal doesn’t have the juris- digtion to grant interim relief to the 10 steel mills. The petition is a response to a NORM ANDERSON . represents mills request filed May 13 with the tribunal by the mills asking that they be allowed to pay world prices until the arbitration process has been completed. The Japanese are currently paying around $96 Cdn a tonne, or more than $30 above the world price. Quintette president Paul Kostuik said the arbitration is likely to drag on into 1989 or nearly two years after the mills served notice of the ar- bitration process. “The full (arbitration) panel met Friday for the first time,” Kostuik said. “It appears to be progressing Expecting Someone fo move to Castlegar? A Family Member An Ei A Business Associate AFriend We will send them FREE a two-month subscription to the Castlegar News! slowly.” The Japanese mills served notice of arbitration on Quintette eight months ago after the two sides failed to reach an agreement on coal prices. The mills say the price they are paying is too far above world prices. World prices collapsed just as the northeast British Columbia coal mines came into production. The steel mills have appointed Norman Anderson, former Cominco Ltd. chief-executive, as their arbi- trator and Quintette has appointed ex-Hydro chairman Chester Johnson. Chief Justice Nathan Nemetz of the B.C. Court of Appeal is chairman of the three-man panel. Since the beginning of 1984 when its northeast coal mine came into production, Quintette has shipped 20 million tonnes of coal to Japan gen- erating revenues of about $2 billion A Variety of Chest Freezers: 7.1, 9.1, 12.4, 15, 22 Cu. Ft. Some Models with Total 5 Year Parts & Labor Warranty. — “HOM : Furniture Warehouse , Floor Covering Centre Phone 693-2227 Open 9:30 a.m. to 5:30 p.m. Tuesday through Saturday. y NS Yt Summertime A UPER FARES From CASTLEGAR Return To: VANCOUVER Wir Liaison Air Canada Connector, Just phone our Ci Department with name and address and we'll do the rest. H ! Book Now! airBc summertime Super Fares are valid for travel anytime between June 21 and September 5, but tickets must be purchased befote June 21 and paid for within 7 days of booking. All travel = must be completed by October 5, 1988 and include a Saturday night stay- of over ai your destination. Seats are limited, so book your flight early. Contact your travel agent or call AirBC at 1-800-663-0522 WEST'S TRAVEL AGENCY 1217-3rd Street, Castlegar ¢ 365-7782 HENNE TRAVEL 1410 Bay Avenue, Trail © 365-5595