"Household budget} 7 managers scoring } The Herald, Thursday, Jul ¥ ‘By Garry. CALGARY:: ¢(CP) Canada and the;U.S, cannot afford to -continue : sacrifice their industries and workers in-an unwise quest. for’ global free trade, the - phlef. spokesman for 10,500 Canadian accountants sald Wi soit ? Niar you put eruely, 1 think: that “sooner -'of Jater we're golnig to-be farced into .. a Fortress -Ametica type of © situation,” -said’ ‘Ronald McKinlay, The. Toronta: ' who: takes office: today as esident of the Society of Management . Accountants, -sald the two countries can: protect thelr industrigs.- against overseas com- petition and not. fear. . Fetaliation. |. “igo around this room," cKinlay said, gesturing at ‘Mck . his" lavishly-furnished two-" floor gultein a hotel near the society's annual convention: : “What do’ we need here - tat we can't’ make in Canada or get from. the United States? ~ “ Only’ the television - set, o™~ , Ssaitomebile industry it measures are not.taken to “pricing, to. to-executive, © 3,.1980,,Page 7°. “stop. the- flood of oversens. cara. ot Bigher farlffs.are not an: adequate.deterrent, but import quotas can work. “There have been a séries. of attempts made: to " but in the-nick of time there. were a number of quotas: put’ ', firms ‘suffer, from foreign ‘competition, because of. inefficiency, McKinlay said 8@me, yor “there is no way in the world Somebody's that’ you can.compete with 25-or 50-cent-an-hour labor.’’ Although Japanese authorities insist basic wage rates are higher than. in . Western Europe and cloge to . North . American. rates, McKinlay said labor price root of Japan's success In invading North .American the society's forther name. . ‘markets. and labor behind the protectionist banner, "There, ‘and we gave that industry will be compelling demands away) 5 0 - from a number of segments “Currently vice-chairman in the community that until -of Clarkson Co. Ltd. of Toronté, McKinlay has had extensive experience helping financially troubled com- ‘panics, including. ones hit rd by Imported goods. ‘With. bluntness befitting his years as a’ wartime corvette skipper, McKinlay expressed opposition to Canada's traditional trade policies, saying ‘'there have een a number of important ‘Canadian: industries that have been sacrificed:on the ° altar.of free trade:!> .~ ’ "These have ei ond tronics and shiphuildifig,;and may soon ilnelude the MOR eg (ed) athe, "OTTAWA (CP) — The gov- ernment took advantage of ‘the strength of the dollar in June topay back the last $500 million U.S: of ‘the $600 million it borrowed in April -to ‘bolster the dollar, the reduce its importance in the fi de-departinent sain Peavey tone aa ey of June ‘a0 gord Yous os! "The U.S, dollars, borrowed mn. stand-by credit with .the chartered banks, were used te buy’.Canadian dollars when démand for the dollar was low, thereby increasing ‘the value of the Canadian currency. = * -.The government did not have to defend the dollar in June second consecutive month, ‘The dollar closed on, money ‘markels Thursday at 87.49 cents U.S. . : ‘The government now has repaid.all the money It botrowed from the banks (o support the dollar. © In -its monthly report on international .reserves, expressed in U‘S. dollars ‘ pacause they are the prin- cipal currency used. in forelgn exchange markets, the finance department said réservés had risen. $85.6 million to $4.30 billion from May. “US currency, the largest compment in. the reserves, rose $69.7 million to $2.15 _~ billion during June. The increase came: from _ the sale of 152,600 ounces of , gold at an average price of -», $591.74 U.S, an ounce, fora total of $90.9 million U.S., or TORONTO (CP) — From y pinchers of modest Bouse usehold budgets to money brokers of six-figure sums, . women are acoring In the dizzying world of high fiance. . “Women have been run: ning family budgets and buying bargains for 60 long _ there's no reason they can’t do ‘this even if it’s on a grander scale,” says Kathryn Wishlow, a 26-year: old retail stockbroker. Since her foray into the field. last fali with the Toronto investment firm Walwyn Stodgell Cochran Murray Ltd,, she’sracked up an impressive portfolio of 150 elicnts: “Touch wood," she says, . looking around for something solid to rap on, *'T haven't lost them money yet.” "Mrs. Wishlow reflects @ naw breed of businesswoman — the retail stockbroker. Since. the market's recently have been ‘in ,dif- ferent corners.” =. - | -..“ gaerifice the textild industry. -, the money stays in Canada.” ‘< the lesue. of ail, reyenue- | J . eye ss Ottaway saying only he. is . Denying. that Canadian ~ - of his ‘goals is to. persuade... differentials are still at the” Hesaldimport-related loss eitgineer before: joining ‘the of jobs. will unite: business. Bank of: Montreal and then “the “jasue’ of ful ad’ he’ id, there are. -Ontarlo _chartered ac: should ‘te’ expanded ‘BO: ihe _ A broader goal is to raise ~ vader oe) lee toe more trained people are.” che added: is, not as 23,000 studenis seeking thé “countants’ institute con- Society’ of .Management the succesg rate ‘for RIA: . needed: .: a important to Canada’as the “RIA title, which is achleved —siders an RIA equal to 33 of- Accountants has‘ ‘a rote in students: Only one ‘of five. “Hardly ever have seen’a | need fo develop Canadian oil through two°r three years of the 45 credits neededfor the. setting.policy on accounting -who starts RIA courses company in difficulty where © and reduce imports: ° part time ‘study. while .-CA title, even if the RIA has . questions Tike resource completes them. 3.’ . ‘there has bean an there : ee ce, Working elsewhere. -:. ° no university schooling. " eserves ‘recognition and -- Two decades of ‘working for’ any: length of time and; _#The price I don’t think .. A’ side ‘benefit of- RIA- Links with the chartered ‘making allowances for the with troubled businesses, he «involved in ‘planning cand ; _ Diatters a great deal, within studies, he ‘said, is that the “accouritants, McKinlay said, , effect of inflation on profits. ‘ Industrial * eof RESIDENTIAL - COMMERCIAL . INDUSTAIAL RENOVATIONS - ADDITIONS - FRAMING ~ MOUKTAIN CONSTRUCTION FREE ESTIMATES - * 3145 River Drive Monday ‘- Friday - 9 a.m.-9 p.m. Saturday - 9 o.m.-6 p.m. @\VTETRAULT — ALLWEST CENTRE OBE -G35-7004 - Commercial , - Renovations - +. Free Estimates _ | 635-3828 © H COUNTRY| Crafts & Gifts | Macrame supplies, hand embroldered tablecloths, custom order wood crafted wal! plaques EC TOM HEATING | 68-1787 Terrace, B. C. WATCH REPAIRS _ "-/ Watch & lewellry repair and engraving . . 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