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Banks raise rates |

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TORONTO — Elusive as the fountain of youth, holy
grail or ultimate mousetrap, the perfect french-fry
vending machine has yet to be found.

But three Canadian companies, with three very
different designs, are racing to mass-produce a
deep-frying- companion to the ubiquitous pop, sandwich
and candy machines.

Based in Toronto, Montreal and Vancouver, the
three companies have spent years and millions of
dollars to design coin-operated machines that produce
sizzling hot fries in seconds.

“The industry has been waiting for a good
french-fry machine for years,’’ says Colin Campbell,

of b:

executive for a national vending services company.
“I'm inclined to believe that french-fry vending will
beeome a reality within the next three years.’’

But the executive, who asked not to be named,
warned the market is fickle. previous attempts, dating
back decades, have fizzled technically.

Among the biggest hurdles is the pungent odor
emitted by frying food. Sedona, Metatron and Mr.
Crispy’s each designed special air and oil filters to cope
with the fumes that can quickly stink out a vending
area.

Then there's the food itself.

“It -has been a real challenge to the industry to
vend a constant portion working from a

d Sedona I i! which

recently raised $3 million on the Toronto Stock

to get its pe Fry Mach into mass
production by next October.

But it faces stiff competition from Canadian Manoir
Industries of Toronto, Its Mr. Crispy’s division has
already built and sold 60 machines for test markets,
says Mr. aie ol 's general manager, Flavelle Barratt.

based Vending
Machine, Inc. is in hot pursuit with Chez Max, a
versatile frying machine that can also cook chicken, fish
or egg rolls.

.. NEED MORE MONEY

“Everything is ready for mass production, but we
need money for it,’’ says Metatron president and
founder Pierre Arjane, who has spent about $2 million
since 1983 to research his machine.

“‘We have only two machines on the market, one
here in Montreal and one in the United States,’’ Arjane
said. Others have been built, but not yet distributed.

The potential market for french-fry vending
machines is difficult to measure because it’s virtually

and widely Sedona esti there

non-homogenous, random length, inconsistently frozen
product,’’ says Barratt.
TEND TO CLUMP

That means the fries come in all shapes and sizes
and tend to freeze in clumps that confound the machine.

Mr. Crispy’s has tackled that problem by using
specially processed frozen fries that are thawed and
kept just above freezing temperature in a refrigerated
compartment. The limp fries are easier to feed into a
basket, which dips into hot oil.

A few seconds later, finished fries are tipped into a
waiting cup.

Sedona uses an ‘‘exclusive rehydrated potato mix."’
In other words, potato powder is mixed with water
inside the machine to form a paste and pushed through
an extruder.

“They have a unique snack-food taste that is better
than french fries,’ Campbell says.

Metatron prides itself on using totally uncooked
foods that are kept frozen in the machine. To cook such
food, the portions move along an assembly line, with
each serving dipped in oil four separate times. A

are potentially 400,000 locations in the United States.
Mr. Crispy’s assumes 300,000 sites in North America.

gets served in about 15 seconds but the food
may have been dipped the first time up to 72 hours
earlier, depending on how often the machine is used.

TORONTO (CP) — Two more
chartered banks have raised mort-
gage interest rates by one-quarter of
@ percentage point.

The Bank of Nova Scotia and the
Toronto Dominion Bank both an-
nounced Tuesday their new rates
would be effective today.

The hikes follow the announcement
Monday by the Canadian Imperial
Bank of Commerce that it was raising
mortgage rates as of Tuesday by

11.75; four-year 11.75 and five-year
12.

The Toronto Dominion Bank also
pushed up its rates on six-month
closed mortgages by a quarter point
to 11 per cent and increased the rate
on open one-year mortgages by the
same amount to 11.75 per cent.

The Bank of Nova Scotia also
announced it was increasing the rate
it Pays on guaranteed investment

deposits by quarter of

rter of a point.
All three chartered banks are now
charging the following rates for
closed mortgages: one-year 11,25 per
cent; two-year 11.50; three-year

Asta, 8c.ve ae

STLEGAR_ NEWS
me

CA’
ro Ramee

ge point. The new rates,
effective today, are: One year 9.25
per cent; two year 9.5; three year,
9.75; four year 10 and five year 10.25
per cent. The CIBC d sim-

i screases Monday.

‘Ine two other major chartered :
banks and the larger trust companies
have yet to follow the CIBC’s lead.
Most are charging about one-quarter
of a percentage point less for mort-
gages.

ALL TYPES OF
COMMERCIAL PRINTING

* Letterheads * Envel.
* Brochures ® Raffle Tickets

’ PAINTING &
DECORATING

2649 FOURTH

CASTLEGAR 8 ©

vIn 2s!

Gary Fleming
Dianna Kootnikoft
ADVERTISING SALES

OFFICE 365-5210 1900-66

AVENUE

365:9569

“le te wit 7 . a . YOU DONEN A Foo are
It is without question that french fries are the No. Arjane says the food is kept safely and a delay

1 smack food in the nation,’’ says a Ti ito-based makes ‘‘no at all’’ to the taste.

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Lumber
producers
hurting

By CasNews Staff

Okanagan and Kootenay for-
esters are doing their best to
break even under the new pro-
vincial forest policy, says the
head of the Interior Lumber
Manufacturers’ Association.

Roger Ennis, president of the
association, said a recent survey
shows that while lumber prices
are up, area manufacturers are
still suffering.

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ducted by Price Waterhouse, 40 ‘ feo flew Vebicice
per cent either lost money or \ ie 3 nd 3s clo’ potpeo rl
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ment could further alter ier peed 5 NO 1978 Chev 4x4 fun V4, connstes, ti
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Ss t ! | | hot PAUL DEVLIN DELL IANNONE JANICE TURNER DENNIS BEDIN WENDY KELLER FRED PRESACCO
OTTAWA (CP) — Real estate con- 367-6585 367-7929 362-5923 364-2987 352-7545 364-1539

tinued to be a hot commodity in *
oer gg | A.M. ee 2795 Highway Drive"
day. Toll Free ourot-town 1-800-663-4966 10cs: 364-0202

It said 16,757 homes were sold in Ie
sara init major markets in July, compared TRAIL 8-C. Hrs. Mon.-Fri. 8:00-8:00; Sat. 8:00-5:00
ibtil ‘ with 15,257 a year earlier. The re- al fst

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sults were obtained from an associa-

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through the multiple listing service, a
co-operative system used by 113 real
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