— aiid March 23, 1988 Castlégar News 87 Want to make a little money goalong way? BUSINESS i PN er BR it iy ia HTH) eg fl MLE HT ee na De IMPORT TAXES Canada complains ae sed 057g wi SuiBuug 260402 jouer y @0 spuncsg “0H Psrouury wosy $8000 ewoy Ajuoy sy UD Aluminum industry Awa TANLLNGS $1084 91 u! unowe yojdwsO> IHIm ES"E9I' IS JO Ss ‘005’ 8e$ $1 e210 Buryso ous YWwOW seg eweru) 58015) 241 “Aoundn220 9991 rsowyo Wyonuyuc> Buyosede ‘seruoue; yjuow suun PeuDjuor-yes Oo, — 00S'88$ aoug Suysy “33M VW SAVGOL JIGVINVAY 34V IM 00'O0E $=00E$« HUN 1 00'SL9 S$=SzZ$ suuNne 00°059'I$= S/z$ « suung $1 efuenes Lf Peysjusng Ayng — »MIIM FHL 4O TWIDIdS., SHI NLA ‘D'8 ‘20604805 enuany DIquIN}O> iSFI 19} “4 ADd Ajax Peywaouey Ang — uawhod Ajyiuow 00'sz9'zs vo [No soy SWOY D YHM,, ‘s0s$ oy ur Burysy “esnjuen sseursng Aud jsowjo Ocat-r¥e 4 21qD1INs “e>r0)d ur Buiu0z jorssewwo> ONuEAy ¥uI4}25 $0 [Jom so homyBiy, wos $802 Biquinjo> Buj204 877S-S9E 3NOHd 30 poo6 yim enuaay 405 al : Lt Th ze hist Ata fs wtebatneeuie nity sa ig a i ii Hil ip nah Hai li at Hath © ve fis tia he t j Hl et tf 4 bi i! ar ea i if all tl sc ee i iia cil i Ey 3 a nes og reaeget rt i i 7 pa i ia ue Trea ne Hie bint zit ABR ait cage nie nl if fay HLH - qe le ie uit Flat iat | fi HE HG Ei ul E bi i iF fi He ‘Sap uo Le yasow ‘Aopsunyy suo sey, "dois (uosjess0}4 Apoosa) Apoom © Sng, WO1y @Us2s D essDEYyes WY djey — (Aaity e4ss1y)) c22eqey wos ss1y 0 [084s UD? ey 404; — Jeg D UIM Oj JepsO Uj ©} sey S¥sD ee ‘a3 D) pili A SMaN IERIPISE) 997L-S9¢ Guyuysg joj2s0wwW0> an uneasy about profits By DENNIS BUECKERT Alcan Aluminium has decisively emerged from five years of crisis and lacklustre profits but its planners aren't gloating — they're uneasy about the next gyration in the volatile industry. “We think the rise in prices (of aluminium products) has been almost too fast,” Serge Roy, an Alcan economist, says in an interview. “We are happy to be making more money, but there are worries.” The aluminum industry is used to surprises, Some have been unpleasant — like the drastic drop in world prices in 1984 that pushed Alcan into a $183-million loss in 1985. But the news in the past year has verged on wonderful, especially the five-per-cent jump in total aluminum demand, just as bigger stockpiles around the world finally dropped. The result was a spectacular doubling in the world price of the primary aluminum to $2,200 US a tonne, and al surge in Alcan’s profits to the highest levels since the record years of 1979-80, “We were waiting for the market to firm, but we didn’t expect anything like this,” Roy says. “The real surprise is the force of the demand.” Alcan is the biggest player in the world aluminum industry, with plants in 22 countries employing 63,000 workers, including 7,000 in Canada. EARNS PROFIT In 1987 the company earned a profit of $433 million US on sales of $6.8 billion, a dramatic increase from the $277 million it earned in 1986. Standard and Poor's of New York raised Alcan’s credit rating in December and Moody's Investor Service may follow suit. It's all a far cry from 1984 when mountains of unsold aluminum around the world grew to nearly three million tonnes and the price dropped more than 40 per cent. The company responded by cost-cutting, chopping 7,000 jobs, including 2,000 in Canada. Costs dropped by $250 million a year. Analysts say Alcan is in a good position to profit from the tight market, yet Roy says the company would have preferred the world price to rise more gradually. The sudden price hike may cause aluminum to lose against other materials, such as steel and plastic, which can be substituted for it in many ways. The last time the price jumped, in 1980, aluminum was badly hurt in some market sectors such as cladding for building exteriors, where it lost out to vinyl siding, Roy says. Alcan figures indicate the world aluminum industry is working at 95-per-cent capacity. OUTPUT RISES The greater danger of high prices is simply that they draw new production into the market, some at old facilities that were shut down during the crisis, and this is happening. Roy says another 300,000 to 400,000 tonnes will come onstream this year, with the biggest projects in Australia and Venzuela — but that is a tiny fraction of what is being considered. “There are major projects being studied in Brazil and the Middle East, where they use flare gas as a source of energy.” Alean has increased production by restarting a second potline at its plant at Sebree, Ky., and will open a third potline this year. But its plant in Shawinigan, Que. has been shut down since last October by a labor conflict. The company’s major new project is the four-stage modernization of the smelter at Laterriere, Que., replacing older facilities that do not meet current environmental standards. Roy says work will begin this spring on the $225-mil lion first stage at Laterriere, and a decision will be made on the next stage in June. He says Alcan is assured of at least one more good year. Beyond that there are two scenarios. “If demand is good the market will assimilate new production and prices will remain strong. If there is a recession, production will continue to increase, invent- ories will rise and prices will fall. “Will there be a recession or not? Everyone has an opinion. It’s difficult to know.” GENEVA (CP) — The world’s top trade arbiter agreed Tuesday to investi. gate a Canadian complaint that Japan discriminates against imports of Canadian lumber used in housing con- struction. Canada has been complain ing for years that Japan charges an eight-per-cent duty on imports of Canadian Spruce, pine and fir while there is no Japanese tax on imports from other countries of other woods such as hem- lock that are also used for housing construction. But the negotiations have failed to produce a solution, so Canada asked the council of the General Agreement on Tariffs and Trade to appoint a three-member panel to in. vestigate the dispute. Japan says the Canadian lumber cannot be considered a “similar product” which must be treated the same under GATT rules. But it agreed to the Can adian request for a panel to conduct a detailed investi- gation of the issue. “It’s our view that the Japanese import regime dis- criminates against the Can- adian SPF (spruce-pine-fir) lumber,” John Weekes, Can- adian ambassador to GATT, said after Tuesday's meeting. He said he hopes the two sides can soon agree to the membership of the panel and its terms of reference so it can begin its work “in the agrees but wanted to use the report — which would usu ally be kept confidential for six months — to persuade Congress to pass the legis lation, Finally, the Europeans an. nounced Tuesday that they will seek council permission at its next meeting May 4-5 to demand compensation from the Americans or to impose retaliation against other U.S. exports in a long-running dispute over an American oil tax. Last summer, GATT ac cepted complaints by the Europeans, Canada and Mexico that a U.S. superfund tax is higher on imported oil than domestic. The tax is to raise funds for environmental Allen's Easter BASKET ‘Smiles ‘n Chuckles “RABBIT $3.17 | $2.37 | $1.37 | $3.97 BIT. EGGS as MENNEN’S SPEED STICK Ledies NICE ‘N EASY ry COLOR Cadbury's Cream He fi sa bie aH Hy ttt ri HOF thh ia i ti et nan a i a we ne | =z x ffs oO 0 her sui qe! near future.” Canada was on the losing end of two major GATT dis- putes on liquor marketing and fish processing Tuesday. But it also emerged as at least a partial winner in other cases, including the Japanese lumber study. DISLIKES FEES The council agreed to a request from the Reagan ad- ministration for permission Ht ! it TYLENOL $547 |i ti, BOUNCE STE ~ ALWAYS sats ON a $457| Semele § YOUR CHOICE spBoyse ‘1000s yir-ZZ11 JONVUNSNI 30HOD Tense) SOfNOd wise] 1404S Vancouver company hits Toronto brokerage market By SHAWN McCARTHY Press Tablets 100s Extra Strength ... i Hvays 99TL-S9E SUCH OY AUy Buyppey on 1014 p1j0e}480> vs TOOTH BRUSH ¢ $ $ Its officials boast that it even made money last October, =-99 * 74 gba November and December, when other brokerages lost - — TORONTO — Canarim Investments — which grew to money due to the stock market collapse. Easter adolescence on the rough-and-tumble Vancouver stock Unlike the lucrative Vancouver operation — which r as market — is gaining maturity as a national brokerage in the focuses on the non-producing resource companies — then ‘© ™ake public a GATT Plush larger, more staid Toronto market. Toronto branch will be concentrating on emerging producers 'POrt urging the United Canarim came to Toronto last May as a financier of and mid-size to larger firms that aren't closely followed by States to amend its legis- unproven junior companies — a venture that had been left to other brokerages, McKnight said. lation on customs user fees. the brokerages on the West Coast after a number of “We're not going to put out a study on a company just _ The fees, set at a per- mining-related scandals hurt Toronto's image in the late because it's there — only when there's a reason to invest and CeMtage of the value of 1960s. then we'll follow up the living daylights out of it until there is '™POrts. can be expensive on multi-million-dollar_ ship- 0 Yy2s0w ‘Anpseupe;y 04 YBnosys 9z yru0W ‘ADpsunyy COFFEE LEss $984 But recently, the undisputed king of Vancouver's Howe a reason to disinvest.” Street has been hiring analysts from the top firms on Bay It expects to carve out a place for itself among the ents. Canada and the Eur- . PADI/G S Castleaird Plaza LJ = 365-7269 Street for its fledgling research department. smaller brokerages such as First Marathon Securities, °P©4" Community argue that Last week, Canarim scored something of a coup by Alfred Bunting and Maison Placements. the fees should reflect the = = luring David McLeish, a vice-president at Walwyn Stodgell The expansion “come as no surprise,” said John Ing. °St of providing customs = Cochran Murray, to head up its new research and president of Maison Placements. “It's a natural evolution — SeFvice and should have an i institutional sales department — which will sell existing the institutional game makes a lot of sense for them.” upper limit. stock rather than new issues. The trust companies, insurance companies and pension The Reagan administration |—>—Serep haem aay PENTECOSTAL fee “What we are trying to do is develop a research-driven funds are an increasing presence in the market and demand NEW LIFE ASSEMBLY firm concentrating on the institutional and the high-end, a high level of performance from their brokerages. 602 - 7th St. © Ph. 365-5212 4km. W. of Cos! Ud Hwy. 3 towards Grand Forks 365-5818 sr iit] hus | ins 4aNSV8 3037109 @ on “HSid_dIMSNOIGINVHO. S.OUYM “WOUIA ez 106. ope 910u ue se O€ y2u0w ‘Aopseupesy 0} many vz yosow ‘Aopsunyy swep JO seues ® pang 0 Bur Get Your Message Across Fast! Classified Ads 365-2212 1 9U0H, ONY Az1Suvd §=@ SL sophisticated retail market,” George McKnight, Canarim's “TOUGH TIME’ Toronto branch manager, said Tuesday. But Vancouver company will have a tough time cracking — Near High Schoo! MADE MONEY the market, said Bill Cara, a former Canarim executive who SUNDAY SERVICES Headed by its youthful chairman Peter Brown, Canarim left in December to run his own business. 713 - 4th Street homing Worship 11-00 sam has a rv jon as an agg! ive, highly profitable outfit. Office 365-3664 Evening Service 6:30 p.m. WEDNESDAY Pastor Stuart Lourie Rev. Glen Backus 7:00 p.m. Bible Srey Prayer 365-3278 th Worship Service 9 a.m. Crossti ee for You! Sunday School 10:15.a.m. FRIDA Youth Group, 7:00 p.m. Youth Meeting Sunday, 6:30 p.m pm ° Ses am Castlegar News \eereiinatanane ANGLICAN CHURCH 1401 Coly Avenue Ben Oe VIEW: rvi 4a aes REV! ; = ven. & FO\O0 a.m vity $73 Gg ite ile En tr ike com tN SIT apne e) Sunday Schoof 10 a.m. Fil in ik (fy! i iy yiwen ooh gSS, AR > Rev. Charled Balfour ——— atitt Hai Wl! ie rr my pre i ia! rH “210M SUaLNOdaY @ OF: WOVNYD AMLNNOO @ Order souvenir copies Sspesse of the large, annual... Lif TH FI if n hi FULL-PAGE REPRODUCTIONS ey Oe of the Nursery & Children's church provided Mid-week Service & Study Wednesday 6:30-8:00 p.m Bible teaching tor all ages WEE COLLEGE _ WOMEN asus mies YOUNG MARRIEDS "9 GG 40 | ueg) “ours “PASTOR Rev. Kenneth Smith A Non-Denominational Fomily Church, Preaching the Word of Faith FULL GOSPEL FELLOWSHIP (A.C.0.P.) Below Castleaird Plaza Phone 365-6317 Pastor: Barry Werner Phone 365-2374 SUNDAY SERVICES Sunday School 9:30 a.m. Morning Worship 10:30 Evening Fellowship 6:30 Wednesday: Home Meetings 7:00 p.m. Friday Youth Ministries 7:00 p.m. HOME OF CASTLEGAR CHRISTIAN ACADEMY 365-7818 UNITED CHURCH OF CANADA 2224-6th Ave. 1% Blocks South of Community Complex 10 a.m. — Worship and Sunday School Mid-Week Activities for all ages. Phone for information Rev. Ted Bristow 365-8337 or 365-7814 sOVWEnS AlZid JHA 40 10 @ Auee 8.0180 "Jou 814 ‘m@uy Jer0U oy YBnou, Preweddog — preg, (€ 0 | Ueg) eOewew ©) uew Bunok payer a BAON Boez IITL-S9E SdwIDss Jeqqny SMaN IEsafISE} ‘eos Aep-wepou 405 209) yods ABw || 22M, SHIN @ @ @ 00:11 CTUOM TVURLYN @ woig 8hOg OUL. wae sng 'g/61) .zwG, Parish Purpose: ‘To know Christ and make Him known EVANGELICAL FREE CHURCH 914 Columbia Ave. Sunday School 9:45 a.m Family Worship Service CALVARY BAPTIST 4 r ’ ™ Serger PUIP — SS 11:00 a.m. & Ladies Bible Study Friday, 9:30 a.m. Youth Ministries 3A01 ¥ NOTTOdyN @ ‘W3 UROT pue BUeBABL| a4 809 Merry Creek Road Ed Neufeld pee Fpgzeg He e ‘ Past Fireside Motel Phone: 365-6675 lade ™ ; tf en rE a ? 7 \ S, Se a Discipleship Ministries i P . PASTOR: Sunday School “A CHURCH THAT LOVES 10:00 a.m THE CASTLEGAR AREA!" fi | me he o" ners to 30 frends. Morning Worship ty Aypenb 404 woneyndas sno jo asneseq Ppeue) Ul [# St ¢ XMJOIDOY z Hu H ir ii nyt ie all i Mid Rast ROBSON COMMUNITY , sei ae Evening Service ‘i 6:30 p.m MEMORIAL CHURCH TUES. 6:00 P.M. Tst Sunday, 7:00 p.m. MW inderemten te Orcany 2nd, 3rd and 4th Sundays, 10a.m WEDNESDAY NIGHT Sraty 6 eres Co. No service 5th Sunday Church 365-3430 of 365-7368 iret (ER Robe Ll Eosic"_ | “GRACE PRESBYTERIAN CHURCH OF GOD —“Satikckiens 2404 Columbia Avenue ae eg Church School Phone 365-3182 9:45 a.m. Morning Worship a3 “mojaq umoys aUea;> adAy Aq apeui sana ssaueap “2x9 ures aM) 28 04 ;yqBU $,JRU, 72Aa eap ys0q ayy MOU St PY) saystuueo 9012 aun ‘xnjox}DaFy Jejndod ysow ayy jo 2uQ, © Perfect for Framing i ly 15"°%22' Approximately 19° Pott? CLIP AND MAIL THIS ORDER FORM [TT] * High Quality Photographic Paper @ CASTISOAR News. - ootess Tews-s9¢ (P09) aNUaAY PIGUINIOD [19 , X 3007, ¥ Only $17.95 vapped mov ae Additional $2 it you have to be invoiced. hee - Allow one week tor delivery COOMs Castlégar News er Columbia Avenu a Pastor Ira Johnson Maasase, Fanecueeee eee eee aren saboyen) 0005 Wr ELL Mos OYUM UW pejod\d “wO> © ‘UjooUI] WoOYoIgy sADjd UO}s ADVENTIST CHURCH —————— 1471 Columbia Ave., Trail 364-0117 ‘Soqnuend yun 0) yyBis aq) saasasad epeur,) xnjosp9Fy seBayse) “nok seaU TURIG XTjOIPEPY Ue S219], *MJO2UI] $,JOPIA e405, UY ayqeyese Sucueuy hsey se] sannuEnb qty pood 120 ‘SIseq pansas ys1y asmeeq Aejap j,uog “s1sis> 4sey0e16 $4) yBnosyy eounsnsuy Ayedosg 105 sunjg juowAng ayo sty YR paydacce suI-apeT ON paydanve spse p21 sole] “GunOd Say UO POS aq [LM uo aaey 0} Kepoy youesq xmyouqoeq anod |e) Te iii filed ik Moming Worship lam. n Regular Saturday sundey School Pastor Cliff Drieberg 11:00 a.m, 2649 “Ppueng rnyo.q294] }sa7¥9U sMod ]¥> ‘awoojam sausInbua 40)nqL2)81() “epeur) ss0.08 uado woos [pm sj2fINO TajOI}227y pazLOGNE AU YNC'z 1940 por payuny axe soqnuenb Fay Ayuno> ayy “JOYA WES