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Fears dissipate

NEW YORK (Reuter) — Immediate fears. that: a wwerid

financial crisis
OPEC cartel
bankers are. ki

wild occur.because of the disarray of the - -

ping a wary eye on. the price of, oil

When ‘the: ldtest. meeting : ‘the 13" members - of the
Organization of] Petroleum Exporting Countries broke up

Monday without agreement on production or pricitig policy,. °°

analysts said they feared a rapid fall in
the price of th precious commodity... Qo

; “ Such a-fall w
debted energy: industry, banking-industry - analysts sald,
and perhaps to the failure of such troubled oil producers.as_
Mexico, Venezuela and Nigeria to repay, their huge ¢ debts to

international banks.” vo .

But by Wednesday, with oll that la not Hinked to long-term
contracts trading down in price, but-very slowly, on world:

‘markets, experts were saying they expect OPEC toregroup. -

and reintroduce stability, tothe, word oil_market, ;

One analyat walnted out, that, the GPEC. ministers: had
nearly reached agreement in Geneva, with the only out-’
standing issue. being 4:$2.U.S. differential in the prices 0 of.
higher-grade. and. regular crude, oil.

> He saw the group reaching 8 consensus on production and
price ata meeting. in February or early March.
- Mark Alpert, ‘a banking -Industry’ analyst with ‘the in.

‘vestment firm of Bear, Stearns, also-belfeved there woul

. be no, major decrease in the price of oil; though loans to.
‘indebted oil-producing countries would still haye to be
further restructured.
! He'sald the OPEC situation ‘had not changed. the: basic
‘problem facing American banks with loans outstanding to.
-these, countries.

+ “The primary risk to the banking system has been ‘and -
remains the possibility of a pullback by smal] and regional
banks, putting more and more of the burden of restruc-
turing on major money-centre banks, "he said.

. “The US. Federal Reserve Board has estimated Mexico
owes U.8:: banks : about $25 billion.

‘ 7 New York: invedtment banker who
jnked not! to be ideritified, said the world's monetary system
‘would not he’ harmed unless the price of oil fell below. $25 8 al
‘barrel. ~

é Wednésday, trading in quality oil on the spot market saw
sellers, asking. $29.25 and buyers offering $29.
2 He said that should oi! fall below $25, loans to Mexico and
other countries might have to be forgiven for political
reasons, though sill carried on the books of lender banks.

Bankers in Europe pointed out that the problems caused
for jhe.indebted oil-producing ‘countries could be offset by
other economic news, such as a fall in interest rates and. a
more buoyant world economy,

{ This point. was‘ stressed by Mexican Finance Minister
Jesus Silva Herzog in London on Wednesday. He pointed out:
that whilé'a $i-a-barrel drop .in ‘the price of Mexico's oil
would. cut the country’s exports earnings. by up. ta $400
gnillion a year, a. one-per-cent decline in interest rates
would reduce its debt-service costs by upto $900 million;

“We | bud to remove. your brain: tor a
I couplelot days, so so ust bil to relax.”

the

- ‘Credit government to proceed cautiously with a
to the provinclat Labor Code...’

erty may ‘require “changes, ‘but it.
“syatematic review. thal eatablishes: al dearep f balance,
~ sald Paul ‘Weller. °* ee

that haga. corosive effect on the ‘egltee ) tha

fave largely dissipated, but international —

uld jead to bankruptcies in the heavily in

_ provinces! Eliminate those’ and what's Heft? There! .

_ VANCUU vet: (GP) — ;
Labor Relaticns; Board added his voice Wednesday. tothe.
growing list of labor relations specialists warning the Sopial

The. Ipyear-old, piece of Jegislation ta:

and also erodes, a. degree’ ‘of alo wereptan

aa |

The first at chalrraais of: the Bi :

: ‘prensing dori is ‘Bob
changes: in. the.” codé, widely. regarded: as the ; moat.
progressive piece of labor legislation i in Canada when it was Mo
"enacted in:1973 by the New Demieratic Party government.”
"The: Labor Relations Boake fas fragile legal. weapons to:

upon themselves to.recilfy that;
; “open warfare’

efter a. rnd to.

ir

is quite-2 a. feasible: step,"
"Weiler ‘said. he ‘Isn' L “suggesting that

, ae oe

apis ae RU saat Elett ae

A970" at oo

“Vancouver ‘byl

"VICTORIA. (CP) _ A ‘Vineouver” ‘bylaw to. -contra)

ptostitution’ has- been effectively invalidated” by. the ~
‘Supreme Court of Canada, and now the federal government —
“must take action, B. ¢, Attorney General ’ Allan MiUllteigns

' said Wednesday.

The court’s ruling that a similar Calgary bylaw i is un
Constitutional: because it invades the~ exclusive federal’
power to pass criminal law, “effectively destroyed. the
value of the City of Vancouver bylaw,” Willlams said. :

' The ruling also makes it clear that any: kind of law that
attempts to prohibt and control prestitution and the ac-

tivities of those who engage ‘in prostititfon is the. ‘sole .

responsibility of the federal government, he lold reporters. ‘

Williams said he has asked federal Justice Minister Mark

MacGuigan. to change the Criminal Code’ immediately. te.

enable police to deal. with ‘prostitution and” “the: other.
_aspects of criminal conduct with which prostitution is ‘often’
: "+ pitea as is the case with. some aspects of drinking and

He alsosald he has told Vancouver Mayor Mike- Harcourt. . driving provisions of the Ciminal Code.

connected.””.

that officials from his ministry are prepared to. mest with;
the city’s legal department to discuss the issue, and then he:
is prepared to meet with the mayor to ‘discuss. what action
they can take.

: ‘The only effective means of controlling riostitutin a and.
associated activites is through criminal law, Williams said,
MaieGulgan’ 8 predecessor Jean Chretien’ said in 1990 that.

National program important

‘The national energy- peograta may ‘have its detractors i in’
the business community, but so far-it’s gone a long way in:

; helping to repatriate the domestic oil and gaa industry.

Statistics Canada reported - Wednesilay that: foreign .

control of the oil industry. declined sharply in 1981 to 44 per, oo ,
cent from 61 per cent in°1990 and.75 per cent in 1974. For.
_ Canadian industry as a whole, foreign ownership dwindled; .

to 26 per cent in 1981, Pushed. dow. in part’ by. the effects of *

the energy program. - i
The estimates show . foreign. control of all . industries,

” except the financial sector, fell 10.26 per cent in 1981 from | a,

per cent in‘1980 and. 33 per cent in‘ 1974. . ra 4
At the end of 196), foreigners, “mostly. US. residents, ’

controlled $0 per cent of manufacturing, 46 per cent of:
mining and. smelting, one per cent of railway, and three per .
cent of uillities, » i
The energy: program - “under which Ottawa is seeking BO.
per-cent. Canadian contrul of oil and gas production by 1980

— prompted a series. of Canadian acquisitions in the in-

dustry that helped push.contro! down to. 34 per cent by U.S.
‘pealdents and to 10 per cent by other forelgnera. The .
Comparable 1980, figures were 38 per cent and. 33 per cent.

In Toronto, prominent nationalist Walter Gordon said the ao
1 inclusion of railways and utilities in the statistics make ther
‘ foreign-ownership level lower than it normally. would. be. é

“TI think it exaggerates the situation,” Gordon, chairman , &
of the dian ‘Inatitute for Economic Policy, sald in: ‘an!
interview: “We all know that-rallways in Canada are‘:
controlled’ in Canada. Half:of them’ are owned. by- et
government, -Moat of the utilities are controlled by. the:

higher percéntane, “naturally?”

“Gordon, /a former Liberal finarite hitlater, alee ald $6 :

per-cent ownership of imamifactiting is too a high a and foreign

a ye a

(Ba stad Me sles | » roel

shareholders at the bank's annval meeting in.To

- economy: with a gradually, imyprovingy * :
sition will be painful: ‘because ‘af high unemp oyment, low, ‘

scones Goa bah isi iy via a deena

ibd Wale
a sisi ex sunbed 4a hige

aw dest foyed =

he was ready io -presant ito ‘the federal Zabinet proposals t for .
the amendment" of-the Criminal Code to’ deal effectively

“sited.

‘with. prostitution, Williams said, but “this, has: not. 80 far
: taken place:"”: .

‘A’ proposal to pass federal "1Gglstation ‘giving

“municipalities power to deal with the problem at the local

* Jevel “would be a new: venture in criminal law enforcement

in this country and one which would run afoul of the decision
. “oF the Suprenie Court of Canada,” he said.”

. There are precedents, such as the. Canada Temperance

; “Act and the laws governing marketing ‘boards, Williams
said, but. “this interdelegation would run ‘into - Serious
. problems: as far as criminal law is concerned:”

‘The federal government could aniend the Criminal Code. .
appropriately. to deal: with prostitution, hé said, then. to >
"leave it'to individual provinces to decide whether the code |

provisions should ‘be. effective within their geographical -

~ Gary. Lauk (NDP. — Vancouver Centre) called fo for. a Taw

"that. applies. to customers and prostitutes’ alike. .

.:He said that in certain areas of. his constituency, which.

. veavers Vancouver’s West End, “residents are living in a

‘Virtual state of siege!” oe

. “Traffic noise, sidewalk harassment and the fear of petty

erimes such as strongarming ‘and burlary! have created an
emergency situation in these residential areas,” he added.

‘control ‘of that crucial ‘sector has hurt. the development G
the economy.

“T have thought for a long time this hag meant a Jot of .
those companies haven't progressed inthe way they should ..
have. and if they were in Canadian harids they would ‘to: Pre

added. iy

” better’ and produce ‘more employment." Me
In another business development, Bell, anada ‘of:2 id

- treal retained its position as the country’s most profitable: i

“ private. company, : reporting ‘Wednesday. it: made | ‘a: $622-
-million- profit In. 1982; compared with $550- million: ine 1981: 3
Revenues increased to $8.4 billion, from $7.4 ‘billion, in 1981.

Bell, attributed the profit, ‘iniprovement to’ sontributions. ‘

: by. ‘subsidiaries ‘and associated companies.

in. other business developments Wednesday: .. 3).
— The chairman of ihe Continental Bank. of. Candida said: :

i the banking: ‘industry faces‘d. period ‘of slower- growth ‘and

fierce: competition for personal. deposits as. the. economy;
moves toward a sustained recovery, Stanley: wen wold:

he foresees a prolonged span of slow growth in

Carita investment and low, levels: ‘off production. “

mam A ‘Toronto-based. business publication Feported sa the’
“number and ‘value of. construction, projects in Canada-
dropped aff sharply as the ‘recession worsened last year.

Dillon aiid the'nimber of, projects: fell ad par, cent to.73; 208, -

asting an opportunity. to ‘pave. thoiands. of dollars by

‘the U'S: allows within itd boundaties designated zones not-

considered American soil for mF cat and excise purposes.

are re

ge

package" We

2" tui. quallfied that by éuggesting’ thal "to
gos erament i is: témpted | to. make ‘new labo

“Ae of 1978, ‘which’ contained sonie: ‘good: ‘ideas: _
But because it was seen by unions as a punitive repli,
‘need

: In’ ‘B.C, will be hepa iq solving swhai

“i changed | is in th the rights of: the individual
~ sticularly in dealirig ‘with: the’ large bureauctacies.o c
, “anion, or employer. a me

oe the provision { for which was contained In the ori
but never ‘proclaimed.

” positions ‘for the -
_ impoveten unions from internationals outside the proving

"| wa. not mentioned’ inthe ié-page judgment. “Da’
- Candida, 12, was awarded an additional $#23N0'for J
* Nek taothrertThe area’

F storag

nj 4 Hill said th tsaremore

- CanaData Marketing Service sald the valve of construction
" getivily:irl the Sountry' fell 23 per’ cent:Last year to $18.45

‘A trade mina in Toronto: was told Canadian buiajress -

hot, taking advantage of U.S, duty-free foreign: trade zones.” |

Past isn by sis Socs8 hay fended to pres sy
the necesary baldncé and sensitivity to sn aid he aid,

policed ‘extend ‘the
iglatio

rise:
1 example th

he said, it hasn’t recelved. the voluntary acce
for It:to ‘be effective. ::

The serious Seoniorni crisis the proving2' tin
$0 leads to people | Jooking. for. Beapegoals, Well
Unione: have’ beconie‘a’ ‘popular, target: and ‘uni
Seems. to be. the. vogue all.qver. North: Amerie!
“It's ly unlikely that tinkerlig with’

~ He: recommends the esta blishment of a labor

» Alabor ombut ndlso could he useful to develop Tegal

ublesome. ‘problem oF. triibteeships

save Sv T ads Big 0
V sinew [bie Baia ©

ooking cost! j

koe produ 5 Dodie: .
antes (Ce) What Isa fair dollar value for-a
wife's , cooking, ‘sewing, childrearing : ‘and - ‘telephone, ‘an:
-awerlng ‘services? .. ‘
VAccording to the B.C. Supreme: Court, $50,000, ., EAE
"Jose Almeida, a 40-year-old Vancouver ‘widower who nays
“he can't: even ‘boil water, was ‘awarded. that. amount. Wed-

: meaday to compensate. for the future Joss of Ais. wife 6 Ser- .

‘vices: after slie ‘was hit and killed by: a tricks 6 St
_B.C. Supreme Court Justice Madame Patricia. Proudfoot

found Johin and Thomas Miket liable for the Feb, 14,-1980,
- accidentin Vancouver which- killed Almeida’s wife, Olinda.

“Juatles Proudfoot said she was.-required to take-into

* conaideration such factors as. Almeida's chances: ‘of

reniarrying, despite, hig; statement in court that: 1e wasn't

PA eae ia

"interested in doing 50: - Proudfoot sai anyone who appeared
 aB “helpless” ‘as he was, likely ‘would marry quite soon.

“I cannot help ‘but conclude that anyone that is..as.

ee ‘helpless! as Mr.: Almeida: professes to be would, [. puggest, .
\ be enéoiitaged to seek a mate: ‘before too much: time: passes.
- Mr, Almeida would have me believe he could not boil water

for a cup of tea, If that be the case, then T ‘suggest that Mr.”

Almeida: will not be long before remarrying.”

Almeida also sought damages to compensate for the fact

es that he had no one.to answer his: ‘business telephone...
!° Proudfoot advised him to’ purchase. a telephone:.an-
wes “swering « device ‘which would operate quite successfully . .

‘for'a.cost of between $300 and" $800." "

He will also receive: 15-per-cent interest on the ‘$50,600

retroactive to, the date of the death of his wife, whose ake

uibtiter
dura mar eto wah

“ penses:.

: growers. are ‘worried, | : .
_It has been so warm a cold snap could be: a disaster for ine. :

nearly, $40-million- -a-year raspberry; . strawberry: , and

" bluebery industries,” B.C, agriculture officials sai ‘Wea-

‘neaday

(3 could r6 really do alot of damage,’ said Abbotsford area ‘
; ‘small fruit horticulturist Bill Peters. “It is just like spring ;

and: we aren't‘ ‘even into February.' u-

- "Already theméan high temperature for Je anuary’ 16 6,1 c

“breaking the old mark of 5.9°C set in both 1959. and’ 1958, a
_said Norm Penny, climatic information “officer ‘ for
Enviroriment Cariada, "We have also set several individual

overnight high’ femperature Fecords. "

Penny’ said "précipitatioii' co’ far ‘is 152. 5 mainimétres
compared’ with a formal for January of 158. 8 | millifhetres
and a record 260.6 millimetres set in’ 1958. | ms

Some areas ‘of southwestern B.C. have Toses ‘in; hud,
; bushes in bloom’ and some tree species near {o. feafing. .
While the warm Weather and wet: soil make ‘moat hor- ”
‘ticultural varieties more’ prone to-root rot and’ ‘other.
; diseases, sald Peters, the réal worry is damage to sprouting

“plants If there 7 a sudden freeze, ”

oe Growers h e resnberry planta pushing ip neg shoots
"and strawberr nits ate also showing signs that spring Is
here,

should.
Pet
: acres) al ke int fds

¢ are more than’ 2,605. hectares (3,000
spheres but'there is nothing farmers

“ean do if there is a cold Snap and plants freeze. Also they -

can not fight potential ‘problems because flelets é are

‘too wet for machinery and sprays would be washed away. ~

“We Just have,to hope we: “don have i a bad freeze,” he

_ Provincial “vegetable ‘specialist jim. “Conray said. the
ated has also started to cause: ‘problems: for some
‘cabbagi , Suthps and toa lesser fate Patatoes: in on

w

"With the high humllty’and warmth thers is more the
normal gray mold in places that rely on seasonal tem;
eratures to/keeH storage r cobl; said, Conray-

> dohn: Hill,” district’, horticidtuyist for the “Cloverdale.

Ri ichmon: at's. a: eally iffy “situation ifor
‘pluebera fii ect aval and about to, break

out.”

° He e exptlngd 4 tilat be normal: years there. Is some teost .

“daminge as late ae April to bluebertles.“‘and we are more
» Unga RELY ts HEL daiiiage Itt ati aiivanced Fear like this.”
nh BOD. hectares. 42, 000 acrés) of

j the Low stig land iy annual crop

*pluebe te
mula 8 iil Hh a Ane we

‘worth §

aay

lator legislation a

_ ' Proudfoot, did grant Almeida -an- additional $20,000 for .
‘past and fulure wage loss of his ‘wife, who’ was _chening
- money babysitting prior’ to her death... -

st

er ype two Months ahead of when’ they, _?

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