takeover offers,
ifs of better performance

7 the economy and a rising
U.S, stock market has in-
vestors concentrating on the
potential rather than con-
templating the risks, tbe in-
yestment firm said in its
Ween. quarter eto,

Election brings uncertainties _

gorty su spikesimesites ot

_ MONTREAL (CP) — The
Parti Quebecois’ decisive
‘election ~ victory has
unexpectédly put "into
- question “the concept of

unity which had .

apparently triumphed in
ia year's Quebec

- This situation, ‘which will
have long-range effects on
Canadian politics, can be

_ attributed to the manner i
‘which Prime Minister
‘Plerré. Trudeau ignored

Claude Ryan and his

‘provincial Liberals in
formulating his plans for

gained during the ref-
erendum
The

campaign.
credibility of

fered. .Premier Rene-

Levesque has promised,
however, that there will be

Tee combination of ”

: « penaten for infle

But there are some dark :

clouds as proppects for the'!

next few months remain.
sex ewvhat uncextaln, Wood
Gundy warned. ~
“Economic
. the second phase of the
- expected recession | is. not:
yet apparent...
“Nevertheless, corporate.
profits are expected to be

relatively week forthe fiat

‘one may wonder what
degree of permanence the
new constitution can have,
should the British
Parilament accede to. the
request of the Canadian
government and amend the
British North Ameriea Act.

The situation may require:
Trudeau to give up any idea

of retirement if he wants to

defend his constitutional

plans from attack by the
Parti Quebecois.

Already, when. the first
public opinica polls showed

that Ryan was headed

towards defeat, ‘Trudeau
indicated that he might be
staying on at the head of the

Charly, bacepeioreand
his replacement by ‘a
Englishspeaking leader
from. another province
would make things in-
finitely easier for the
Quebec “government | to
introduce: once again its.
sovereignty-association
option.

The shock of defeat is all
_the greater for provincial
. Liberals In that Ryan -had
managed in his three years
as ‘ader to completely
remake the party, which

activity”

om. BF

halt, -and = this. - may
periodically undermine
¢onfidence in .

‘Abo, Wood Gundy added,
there are serious political
Problems to worry investors

under “former premier
Robert Bourassa still
depended on ‘secret. cor.
porate funding and ‘on
organizers somewhat
remote from the bulk of the
population.

confidence, . to ‘acquire
and

broadlybased | support
finance itself out of smali

. individual donations. as

Tequired by. the: new elec-
toral law brought in by the
Proud ‘of. this tran-
sformation, the Lideral’
decided on a campaign
addressed directly and ©

“without intermediaries to -

‘referendum defeat last |

which
totally

year, .
“These tactics,
resulted “ in

discrediting Ryan and his §

Midwife doctor fined $1 om

VICTORIA (CP) — A 52 -

"The Ambrey child died

yearold former: Victorias during! the: vdalivery riot
dovtor Was vcetivicted thon cesdbrats hemorrhage.

practizing::. midwifery

Gilbert | Hogg
Margaret Lillian Marsh
guilty of practising mid-
wifery June 12, 1978, in the
homebirth of a child barn to

only $10.

The Medical Act says it is
unlawful for anyone who is
not a licensed. doctor &
“practise medicine,
midwifery.” A

Hogg refused a defence
for absolute

birth should take place in
hospitals where medical
facilities are available.

“It might tend to make

people think the ‘court ap’
proves of home. birth-

would invite them to con-

He sald he was imposing

nominal fine because he --

felt Marth’ # good nature led

"her to commit the offence.

‘The judge said be also took
into account recognition of
the trauma the woman.

lawyer -
Howard said in asking for a
decision would affect the

aa a good samarilan, and.
oot a criminal or offender in |
the ordinary sense, who had
been under severe strain

; * because of the child’s death
__under special conditions

and subsequent trials. .

TERRACE LADIES
‘SPECIALTY SHOP

AND HALF SIZES

SPECIALIZING
IN SIZES 30 - 52

‘Our doors are now open.
and we invite | you in te
see our selection of clothing |

- Grand Opening events & specials,
- will be coming soon.
Watch for details.

tty. ce

future.”

parison to the U.S. send.
Little wonder that we find it ...

Canadian: market can keep ,
op to New York in the near

“

However, the investmient
company said that looking

beyond. the next: few

* wtve Canadian recovery

- difficult to envisage how the” “should .be ‘driven: by ‘the

massive ‘capital: ‘spending
‘that are an
inevithble clement of future

energy policy.”

These energy. develop-.

ménjs'— new productive

capacity. from a rebuilt -

manufacturing sector, some
pick-up in North American

‘auto production and rising -

” productivity as the young

labor. force. matures —
“support ‘our: thesis of.
arn camings: tor the

1987-63 perind.**.
“Oe Jbaline, the mea

‘any = periods |

term may bring some

_ problems and uncertainties. -

' “But on assessing the
potential risks and rewards,

' iit must be recognized that
.' an emphasis. on timing
could blind us to “major

opportunities."
Onl epecific atock

ck groups,
- Wood Gundy sald the
mining sector may be :

. temporarily abead of itself.

“Poor carnings and
possible dividend cuts could
temporarily dampen en-

_ thusiaam for this group. The
. potential over the next few -

years should be excellent so
of.

ret:

renchment should be used to
increase weightings.”
Canadian oils, 23 a group,
have been underperformers
on the Toronto Stock Ex-
change for about 12 months,
meinly because of energy
v} problems ‘which were
especially heighténad by the
. introducing of the national
energy policy last October.

current: impasse - between
the federal government apd
the producing. provinces
within the next few months,
’ although we how doubt that
; * totally  - aceeptable

- We remain hopeful some.
“- resolution. will break the

caacnaquensiint

Smith

agreement can be nego.
tated before year end.”
Wood Gundy said it
forecasting a period ©
lacklustre performance
energy stocks over-all
recommends that the;
current market. rally.
used for selling
highgrading oil portfolios.
-“We would concentrate onj_
fewer and more. selective:
issues for the next 5

tunieed

investment’
predicted chartered. banked
‘will be one of the strongest

groups over the reat of the

eralism and as a broadly
based" organization, have
also ——s restored ~~. the
polarization of public opm.

ion around two hestile ‘and J

rival goveruments: Ottawa
amd Quebec. The rise of
Ryan had caused. this
perception of politics in.
Quebec and in Canada to be

questioned, .
However, the Parti Que
becois’s victary at the polls
Monday serves to delay any
resolution of the problems
of Quebec and of Canada. It
contributed in mai

maintgining | |
the climate of tension and of [-

confrontation which has
persisted for mare than a

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