epi TE ah ith SM EE “Fy ag MAE dayt cent Coal saved the mining industry. = Coal mining saved the British Columbia. mining industry from a disastrous year in 1975. The copper section of the | industry earned about half of its 1974 income, but the coal mining companies more than doubled their sales, ; The result was that the industry recorded net sales of $952 million, slightly ahead of the .$944 million earned the year before. But company earnings were down, shareholders recelved less, investment in exploration and capital development projects was down, and the -industr experienced a cash shortfall | on the year. These were the principal findings of Price Walerhouse & Co., char- tered accountants, in its tenth annual, arms-length independent investigation of the performance of the 47 mining cOmpanies operaling in British Olumbia. “In summary," Price Waterhouse said, “the year 1975 could not be described as a good one for the in- dustry as a whole. “Only the excellent performance of the coal sector, afler.severa] years ”W of disappointment, saved the industry from a disastrous year. “While the producers of many metals other than. copper held their own the combination of low prices, high costs and high tax levels dealt a stunning blow to the copper sector which is the most important in terms of the number of mines, employees, the amount of capital investment and, until recently, the level of foreign sales.” Other metals recorded higher revenues for ‘the’ year, Zinc and zinc con- centrates were third in value at $125. million, followed by molybdenum production at $70 million. Here are the principal highlights of the 1975 Price Waterhouse study of the B.C. mining industry: - oper mining sales declined “56 percent from $461 million in 1974 to $260 million in 1975. ‘ - Coal mining sales jumped to $321 million from . $102 million the year before. - Earnings of all com- panies surveyed totalled $92 million, down from $124 million in 1974, Almost ali the income was earned by two coal mining companies; the combined earnings of the rest of the industry was around zeré, - The companies expenses were $41 million more than they earned, so the dif-. ference came out of their “savings” of former years. - Investors in the industry saw their return drop to 8.1 percent from 12.7 in 1974. Dividends totalled $27.1 -million, against $ 45.8 the year before. Without revenues. from . coal production, the industry return would ‘have plum- meted to 2.5 percent. - Industry expenditures at $992 million were 12 percent higher than 1974. - Total payments for in- come tax, royalties and other taxes were down 2.5 ercent at $137 million because of low world copper prices. - Primary exploration expenditures aimed at uncovering new mines in 1975 totalled $11.4 million, a drop of 26 percent from the’ year _before. ; - Capital expenditures of $42.9 million were about the same as the year before — but 22 percent less than what the: companies a Kitimat meerege Se PRN forecast they would spend in the last Price Waterhouse report, - Net inflow of capital reached $193 million, more than double the year before: Half of that inerease provided working capital to cash-short companies and the rest represented lower total interest payments on loans. - Taxes and payments to governments totalled $199 million, slightly ahead of 1974. - The number of em- ployees in the industry in- creased lo 15,149 from 14,480 the year before. - The averdge employee wage went to $15,432 from $13,438 in 1974. Price Walerhouse said the multiplier effect on em- ployment in British Columbia was about * 2.8 workers for everyone direclly employed in mining. This meant another 42,000 people in British Columbia found em- ployment in industries servicing mining. In Canada, the factor was 7.0 percent, representing another 105,000 workers in Canada who found work because of mining activity in British Columbia. Mining in British Columbia generated minerals valued on world markets al $1.1 billion. This represents six percent of the Seat belt other sticker program Mr. Norman Bortnick, General Manager of the Insurance Corporation of British Columbia, an- nounced the taunching of a provinee-wide seat belt bumper slicker program to raise public awareness of the advantage of wearing seat belts. The program is entirely voluntary and_ is part of the Corporation's - efforls to promote safe driving. , gross. provincial “product. For Canada as a whole, the income effect-reached $2.2 billion. . = The chartered ac- countants found that 56 percent of the B.C, industry was’ owned by Canadians in 1975 and that 60 percent of the industry was effectively controlled in this country. + And, what of the future?. Price Waterhouse said there will be no major. change in production capacity of the industry over the next two to three years, except for continuin expansion of existing co production facilities. “The level of taxes could well decline In 1976, under the new B.C. tax rules, as could the rate of cost in- creases, but as far as present copper operations are concerned no real progress will be made until here is a sharp increase in prices,” Price Waterhouse said. “While there are several new mines which may go ahead over the next few years, only one-is in a relatively advanced stage of development. “Purther growth in base metal production is ex- pected to be more gradual, ut a major impact might stem from the further developments in the cdal industry in the early mid- 1980s.” } bumper ‘The Corporation “estimates that if all people in cars wore lap and shoulder belts at ali times, ‘fatalities and serious in- juries could be reduced by* 50 percent. All Corporation vehicles will have the bumper stickers, and the bumper stickers will be made available ‘to motorists throughout the province, through Claim Centres and various, Other activities, Forest fire report _In spite of the cool wet weather one fire was ” reported. A careless smoker - threw lighted material into the woods near Bella Coola. The resulting fire was quickly extinguished by Forest Service forces after ommonwealth being reported on the Zenith: 5555 fire emergency reporting line. This points out that sections ‘of the. forest are still dry and caution is required at all - times. Please be careful when using the forests this all. Used. sens Offers ‘1055 Hiway 16 East — 1969 10 x 42 Atco 1972 Dodge Van ° . 197] 10 x 60 Van Dyke Expando 1970 12 x 60 Safeway . _ 1965 8 x 32 Marlette. 1974.12 x 68 Vista Villa... 1966 10 x 41 20th Century on location. Joey Shack - 1971 12 x 52 Paramount | "*RESERYE BID Offers Great Buys Right Now | Mon.-Thurs. €:30 a.m.-€:00 p.m. Fri, & Sat. 0130 a.ir.-5100 pm. Sun. 1 p.M.-5:00 p.m. After Hours by Appointment Only, . Quality Homes’ at Affordable Prices COMMONWEALTH ' Mobile Homes Lid. A Division of Homco Industries DL-D25119° Offers 635-6251 Terrace ~ ' 4648 Lakelse. Ave. 238 City Centre — New Quadra Travel Service} 635-2281 "32-2281 New Excursion Fares to Eastern Canada Vancouver/Toronto 29g Ret. _. Vancouver/Montreal *260°° Ret. THE ONLY C AGENT Also Available to Other Cities P AIR” APPOINTED IN. TERRACE IRENE SQUIRES (left) ae 8 alg Hy . first vice-president of the Northwest Music Festival and Dennis Brewer, trustee af School District 86 took delight in handing over the 10 volume set of Groves’ Dictionary of Music and -Mosicians to Terrace Librarian, Kate Inoue. The books were purchased by the festival for the school district's resource centre but it was decided students would have greater access to them if they were available at the library, Money for the books was raised through the RCMP Band Concert and the sale of lottery tickets. Minister's reaction to Winegard report Education Minister Dr, © Pat McGeer recently said that. the report of the Commission on University Programs in Non- - Metropolitan Areas has confirmed the need for rograms in the interior and: fas offered an imaginative scheme for implementation, , _ The minister spoke as he released the 50 page report which culminated four months of study by the commission headed by Dr. William Winegard. DISTRICT OF TERRACE “I have reviewed the commission's document and I am now forwarding it to the Universities Council of B.C., the universities and _ the colleges for their con- sideration,” he said. Dr. Winegard did exactly what he was asked: ‘He and his advisors did an excellent job in assessing a most difficult and complex situation in a .very short time and have McGeer said Dr.” produced a set of positive recommendations,” He also forecast that the commission’s recom- mendations could be the modest beginning of open universily programs in this province, “By using already proven methods in Canada, ‘the United States and Britain, [ would hope that in a reasonable length of time, every home in the province - could take advantage of these programs.” PARKS & RECREATION DEPARTMEN New Admission Fee for Poo! and Arena Effective Septembor 1st, 1976 . GENERAL ADMISSION ‘Adult. Student Child-Sr. Citizen Family STRIP TICKETS . _ Adult . Student Child-S’. Citizen POOL SEASONS PASS (26 Weeks) Adult ’ Student Child-Sr. Citizen Family ARENA SEAS -. Adult Student ~.-Child-Sr. Citizen ” Family ONS PASS (Full Ice Season) 1.50: 80 60 2.25 10-12.00 10-6.50 | 10-4,75. 31.25 ‘16.75 42.50 46.75 36.00 - 19.25 14,50 54.00 For further information, phone 638-1174. Appearing at the San a SSS saeaeens THE HERALD, Wednesday, September 22, 1976, PAGE AZ The Accessibility Com- mittee of the Universities Council will be visiting Terrace, Hazelton and Kitimat between September 30 and October 2, 1974 and hopes to gather more in- formation on the question of the accessibility of post- secondary education to the people of British Columbia. This is the second tour arranged by the Ac- cessibility Committee. The first tour included visits to Kelowna, Grand Forks, Rossland and Kamloops and took place in May of this year. Acting Chairwoman of the Committee, Rita Mac- Donald said in Vancouver Thursday, ‘‘The Committee is looking forward to receiving input from in- dividuals, groups. and organizations involved and interested in higher education and its ac- cessibility.”’ “We have planned two public hearings”, she said, ‘the first will be held on September 30 in Kitimat and the second will be held in Hazelton on October 1..We hope that as many people as possible will be able to at- 1} ? The Commitlee is anxious to get information on the _ barriers which people might University Council tours northwest come across in attempting to obtain education at the post-secondary level. There may be a variety of factors involved in accessibility problems includin economic, social. an geographical difficulties. Following the tour, the committee hopes to produce a report for the Universities © Council. The current schedule calls for the report to be finished and forwarded to the Council] by the end of Novernber. , In addition to the two public hearings, the com- mittee will be meeting with ‘groups and individuals in Terrace, Hazelton and Kitimat, since the com- mittee public hearings may not be convenient to everyone. — _ Anyone wishing to appear before the. committee is invited to do so. The metings are being held in the following places: Kitimat: Kitimat Museum, September 30, 1976 at 7 p.m. and Hazelton: Inlander Hotel, October 1, 1976 at 7 p.m. Persans wishing to meet the committee but who do not want to appear‘at the public hearings, should contact Mr. John Bottontley at the Universities Council's office: 872-0245. Look for business in-. ; surance that'll” . keep income coming in. ~ Most insurance companies can ~ sell fire and lia- bility coverage. | But you should also protect yourself against financial losses . if you were forced to tem- porerily close down. 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