Page 8 The Herald, Thursday, June 14, 1079

Shack sniffs it out -

TORONTO (CP) — Eddie hockey, has always had a otherwise known as the

Shack, the retlred clown nose for a good deal.

prince of professional

Bankruptcy rate

In fact, the Shack novo,

said on increase

OTTAWA ‘\UP) —Govern-
ment statistics released
Wednesday show 419
businesses filed for
bankruptcy during April.
This compares with a March
total of 536.

Personal bankruptcies
were 1,335 during April
compared with 1,704 In
March, The total for both
types in the first four months
of the year was 8,113.

Of this total, 44 per cent

were in Ontario and 33 per
cent in Quebec.
re a
wen ne
were in the wholesale and
retail trade sector — a total
of 141.
Ninety-five construction
bankruptele rpted
ptcies were
in the manufacturing sector
and $4 among service outlets
such as gas stations or
barber shops,

U.S. finding that

new investment up

WASHINGTON (AP) —
Foreign investments in U.S.
manufacturing firms, real
estate and banks rose 73 per
cent from 1977 to 1978, data
released Wednesday in-
dicates.

A report by the U.S, com-
merce department said
foreigners completed pur-
chases totalling about $5.7
billion in U.S. businesses’ in
1978, up from $3.3 billion in
1977 and $2.1 billion in 1976,

Leading investors in 1977
were Britain, Japan,

‘Canada, West Germany,
the

Switzerland, .
Netherlands and France,

who accounted for 93 per he
reported

cent of the total
inyeatment value, the report

The moat area for
foreign investment in 1977
was in manufacturing
companies, eapecially those
Specializing in chemicals,
metals and machinery,
Other ular areas were
real estate and banking.

friends for life

The Canadian Red Cross Society

+

. advertisements an

- writin’ and can't read

prominent - proboscis, was,
once insured for $1 million as

a publicity stunt. PARIS (CP) — A senior

. executive of Canadair

‘His latest deal finds | says sales of the com-
Shack's. proboacls pany’s new Challenger
prominently diaplayed in Ineas jet in the

com-
morcials for Pop Shoppes might be jeopardized by

International Inc. the eanaiilan govern-
Pop Shoppes officials | ™ent’s pian to move

belleve it is perting a return embassy in Israel from

of three times its investment v erusalern.

H.D. Walford, vice-

president for corporate
planning, said in an in-

in the endorsement of its

colorful lex with Toronto

Maple Leafs of the Natonal sarvlevs vat the Paris Ar

Hockey, League. . | suspleion is that “if the
Pop Shoppes slgned Shack | ombassy were moved to

to a three-year contract for | Jerusalem, there would

nearly $200,000 with a two- [| be aneffect but I wouldn't

year option. Even before two [| want to venture how
years have gone, Shack and | much it would be."
Pop Shoppes will be The’ exclusive

renegotiating. distributor for die

lation ia that Shack | CHallenger in: 2 ®

East and North African

get about $100,000a year | co ntrieg is Tag

over a longer-term contract
with some of that in Pop
Shoppe ahares. :

A recent survey of 3,000
Canadians showed that 90
per cent identified Shack
with the firm’s producta.

Ninety-two per cent sald
. was believable,
associating him with value
for monsy. So,

’ merere astounded at the
nal recognition,” sa
Bill May, vice-president of -
Canadian operations,

As in hockey, May said
Shack’s new contract will
contain a performance
clause “to give Eddie a

Aeronautics, a Geneva-
based company owned by
Saudi Arabian interests.
Tag has ordered 36 of the
planes for resale to
customers in the oitrich

region.

Tag Aeronautics
spokesman Adel Opbari
said: “I think it’s going to
be -a good seller,” but

troversial plan to move
the embassy.

industry and the federal
government have

mounted a §$1-million
sales effort at the Paria

chance to grow with the

* organiza . show with 26 companies

the continuity maintain showing thelr products. °
That's not bad for a guy Five fpanacian aireratt

who quit school at Grade 3 are own

and admits he “can't write | the daily displays — in-

cluding the Challenger

readis’."

PLANE PLAN —
IN TROUBLE?

lucrative Middle Enst -

. version of the Buffalo

indicated he also = Is:
worried by the con-.

and Garrett Manufac-
The Canadian aviation

which is making its first
appearance outside North

America, NORTH. VANCOUVER,

The de Havilland. u
Alreratt of Canada Lid. is | 2. (CP) — A British

demonstrating Its 50- helped ploneer’ manned

passenger STOL — short: | syubmersibies is sinking fast
take off and landing — | and could be scultled despite
Dash-7, -its Twin Otter its respected storehouse of.
commuter plane and its |. marine technology...
Transporter, a civilian International

- (Hyco) likely will cease

aircraft.
A contract for three |. operations June 30 and

. Dash-7 aircraft ‘from | disband its staff of 45 unless
. Alyemda, the airline of | there‘ ig a last-minute
South Yemen, has al- takeover bid for the 13-year-
ready been completed. | oid firm, so,
The 1980 delivery price “I don't think an industry.
for one of the aircraft is | like this should be allowed to
$45 million. . go under,” says Doug
a Huntington, company.
But it is the Challenger | 1 sketing engineer.

which is attracting the
most interest. Canadair
says it has 120 firm orders
for the $7-million plane,
even though the first
commercial delivery is
not expected until next
year,

Other exhibitors in-
clude Bristol Aerospace
Lid. of Winnipeg,
manufacturer of the
Black Brant rocket; Pratt

“especially with Canada's
offshore oil exploration com-
mitments over the next

decade..
“We'vikaa$i$4sh-t8ce
that, if the company was
reformed and restructured,
‘we would have a chance to
survive,”
. Hyco was placed in receiy-
’ ership in October, 1974, and
Dunwood and Co. has been
unsuccessful in finding a

and Whitney Aircraft of | buyer. ;
Canada Ltd, of Longueuil, The company; . which -
Que., makers of turbofan manufactures the Pisces,
engines used . worldwide has established a world-class

reputation as a builder of-

turing Ltd. of Rexdale, | successful, relatively ‘low-

Ont, cost submersibles..
; The Soviet Union operates.
Garrett, a subsidiary of two Hyco vessels for

the U.S-based Garrett
Corp., announced a $5.1-
million order from
Societe Nationale

Aerospatiale of France
for temperature control
equipment for the A-300
Airbus aircraft.

National’ Aeronautics and
Space Administration of the

delivery of the last two
under construction.

Hyco has produced 15
commercial submarines, but

BUSINESS DIRECTORY

For insights
into Insurance

-—Business Insurance
e—Income replacement
—Registered Retirement Planning

"Brian Montgomery

Representative
Business ManuALife Business
635-9236 The Manufacturers Lie Insurance Company 635-9236,

Un asco Sore...

‘ 4
\ “fe Sune Tat MS EveRr TON

- fon VOUR

Nee
[635-3596 |r uD fas 6066

PiumbIng - Heating - Commercial Servicing .
Residential. Industrial . Specializing Gas Fitting
- and Sheet Metal Shop .

Charlie Belanger

PLUMBING & HEATINGLTD,
“Unique Bathroom Boutique’ .

443¢- LAK ELSE AVENUE
P.O. Box 534 PHONE 635.9319

TERRACE, B.C. VaG 4B5 OR 635-9320
Install & Service Gas, Wood & Oil Furnaces

WATCH FOR OUR COLUMN ‘ASK KOBE’

WEEKDAYS 8-11
4438 Lakelse

EASTSIDE

GROCERY & LAUNDROMAT

OPEN
7 DAYS A WEEK ©

To Serve You

YOUR FRIENDLY CONVENIENCE STORE:

WEEKENDS 9-11
635-2104

Terrace Electronic Repairs Ltd.
SERVING TERRACE & KITIMAT

; AUTHORIZED
e SERVICE
DEPOT
RS, Philips, Magnavox, Zenith
ow Sanyo, Toshiba

Man. Sat. — 9 a.m. - 6 p.m.
Friday — 9 a.m. - 9 p.m.

MAR COUX Offices, Custom
finishing & _ homes, Fireplaces
remodelling & General Carpentry

6-3916 Mountainview Ave., Terrace

4124 Mconnalt
Terrace, B.C.

_ 4623 Lakeise 54543
nw | ) GLACIER aire een
JOCK’S EXCAVATING LTD. AGH - D&A JANITOR SERVICE
Excavator JDG903 | L of ae
A ay ° ; Terrace, B.C, | Rug cleaning by hot water extraction
Backhoe M.F.50 S on. . 2roomst hallway $70-most hore.
“ & | 7 FREE ESTIMATES
John Black S A Complete Glass and

Aluminum Service

635-6622 472 Halliwell

638-8354

EDAR

Custom finishing - Renovations. Additions
CEDAR SPECIALISTS

ting Cleaners Ltd.
**" -FORTHEBESTIN. .
SUEDE AND LEATHER
CLEANING
2 LOCATIONS

4404 Legion Avenue and Mini Mall
(Next to Mr, Mikes)

SMALL APPLIANCES - LAWN MOWERS.
RENOVATING - BICYCLES. ETC,

Handyman Unlimited

Cafl BILL or DALE
638-8277 or 635-3967

3943 Mountainview
. Terrace, 8.C.

Box 643 635-4656 Terrace, B.C.

635-2838

3308 KALUM

Pro-Teoh Electronics Engineering
SERVING TERRACE & KITIMAT

We Service All Commercial & Home Entertainment
Appliances Including Microwave
Warranty Depot
Sanyo Soundesign, Kenwood, Admiral
Morse Electrophonic
Hammond Certifled Technician

635.5134

- Ready Mix Concrete, Sand, Gravel, Top Soll, Drain
rock, Patio Blocks. Concrete Gravel, Bags of
Cement, 4 Yard Concrale Mixer available for rent,

WE DELIVER SATURDAYS
PHONE 635-3936
F.J.H. READY MIX

_. Construction Ltd.

Plant Off Krumm Road

Thornhill

HOTMWATER

RESIDENTIAL i BIN
VICE

HEATING

t Heating

2- 4717 WALSH AVE.

PHONE 638-1468 TEARACE, BC.

Call us at 635-6357 9 to 5.

\
’

Columbia company which.

Hydrodynamics: Co. Ltd...

research purposes and the ©

| United States is waiting

‘ underwater vehicles now

ne fat

arisein the use of unmanned
vehicles and poor marketing
projections _ compounded
company problems.  -

The company’s financial
problems are partly due to a
’ gerles. . internal
shareholder fights which
prevented financial
reorganization of the firm
last year,

Penlugular and Oriental
Steam Navigation Co. of
London (P and QO) is the
biggest shareholder.with 43
-per cent of the stock, P and 0
loaned Hyco $850,000 In 1974
‘and has repeatedly tried to
get some safeguards for its

money, ..

Dissident Canadian share-
holders last year said the
loan: should have been
forgiven and alleged that P
and © had defaulted on a
purchase agreement. with
Hyco, Management tried
unsuccessfully to award P
and © preference shares In
return for cancellation of the

oan,
No agreement could be
reached, however, and
outsiders who were In-
‘terested in.  Hyco's

PO a bee RECN

Me EO AS nas ie edd Fe

B.C. firm may soon
so. down for count

technology refused to
become involved in the

company while the internal

dispute continued. :
Hyco's troubles were

aggravated by the collapse

of the offshore oil ex-

' ploratlon market. ;
The company wad dealt a

blow when P and_0 Subsea
Ltd., a British firm, aban-
doned.its North Sea all and

t) rations and pu
Pisces submersibles for sale
at a cut rate.

- The submersibles, some of

which are capable of diving
40 6,600 feet, have been put to
several . uses, including
undersea oll well drilling.

The Pisces and other Hyco —

submeraibles are capable of
conducting seabed surveys,
pipeline and cable in-
gpections, plus salvage and
submarine . rescue
operations.

Hyco had 165 employees
two years ago and had
received federal government
financial: help in the past.
Future loans are unlikely,
however, and the company’s
one remaining submersible
stlil ia for sale.

STOCKS

TORONTO (CP) — The
Toronto stock market waa
mixed at the close of active
trading Wednesday.

The TSE 300 index was
down 1.93 to 1,672.63,

Utilities and financial
services were weak, but real
estate and construction
stocks climbed,

Volume was 6.42 million
compared with 5.81 million
Tuesday. “ ;

- Among industrials, IBM
fell 340 $89, Dome Pete 14 to
$5034, St. Lawrence Cement
1 ‘to $27, Economic In-
vestment Trust 1 to $19 and
General Motors 1 to $704.

Westcoast Pete rose 1% to
$23%, CAE Industries A 1%
to’ $34, Sterling Trust 1% to
$19 and Reitman’s Canada 1
to $20 and Federal Pioneer A
1to $48.

Kam-Kotia Mines delcined
4’ to: $514, Campbell- Red
Lake Mines % to $21 and Rio
Algom % ‘to $34. Roman
Corp. advanced 1% to $32%
and Denison Mines 1 to $2744,

Ulster Pete was down 10
‘cents to $4.75, Chieftain

. Development % to $26% and

American Eagle Pete 20
cents to $3.10, Numac Oil and
Gas was up 1% to $36% and
North Canadian Oils 1% to
1534.

VANCOUVER (CP) —
Prices were mixed in active
trading Wednesday on the
Vancouver Stock Exchange,

Volume at the close was
3,941,403 shares.

In the industrials, Taro In-
dustries was unchanged at
$3.60 on 9,600 shares and
Ardiem Corp. was un-
changed at .25 on 6,000,
Computrex Centres was

unchanged at .22 on 5,00
shares and Goldale In-
vestment A gained 0S at
$4.85 on 4,000. Grouse
Mountain rose .02 at .92 and
Auto Marine Electric was
unchanged at $0 1-44,

On the resource and
development: beard, Liberty
Petroleums advanced .27 at
$2.25 on 118,075 shares and
Amber Resources was up .07
at $1.52 on 87,200: Pan Arctic
Exploration was up §1 at
$4.10 on 96,500 shares and
Westmount Resources .Ltd,
was up .1> at $5.45 on 79,002,
San Jacinto Exploration was
up .02 at 40 and Pan Acheron
Resourges dropped .01 at .37,

On the curb exchange,
Alcum Mining Ltd. was down
.05 at $1.75 on 128,400 shares
and Santa Sarita Mining was
up .13 at .72 on 120,650. Hesca
Resources was unchanged at
30 on 93,500 shares and Jet-
Star Resources was up .27 at
$1.78 on 62,300. Dorado
Resources was up 08 at .49
and Sibola Mines Ltd. waa w
08 at .80. ,

EARNINGS |

Consolidated Canadian
Fara-day Ltd, year ended
Dec. 31; 1978, $2,868,144, 61
cents a share;' 1977,

$2,230,698, 63 cents.

‘Hayes-Dana Ltd,, nine
months ended May 31: 1979,'
$8,170,000, $1.35 a share;
1978, 5,591,000 93 cents,

Seagram. Co, Lid, nine
months ended April 30: 1979,
$59,644,000, $1.70 a share;
1978, $62,539,000, $1.78.

Tara Exploration and
Devel-opment Co. Lid., year
ended Dec. 31: 1978,
$11,157,000, loss, U.S. funds,
no share figures; 1977,
$1,169,000, loss.

DIVIDENDS

By THE CANADIAN PRESS

Corporate dividends
Wednesday, quarterly unless
otherwise noted.

Automotive Hardware
Lid, clas A, 12'cents; class
B, a stock dividend
equivalent to 12 cents
payable in the from of class
C sharres forr each class B
share held; both payable
July 16, record June 20.

Canadain § Cablesystems
Ltd, class A, 12.5 cents;
clase B, 12.5 cents; both
payable June 20, record June
15.

Cassidy's Ltd., 8.5 centa,
June 30, record June 22; 1st
pfd., 15.625 cents, July 1,
record June 22,

Chieftain Development Co,
Lu, nine per cent pfd.,
#1.125, July 16, record June

Cygnus Corp. Ltd., class A,

10 cents; class B, 10 cents;

both annually, payable June
7, record June 7.
Foodex Inc., pfid., 21.575

"ents, Oct, 15, record Sept.

21; pfd., 1.575 cents, Jan. 15,
record Dec. 28,
Gavbell Holdings Ltd., 9.50

per cent ptd. A, 25,12 cents,
accrued, initial’ since
issuance, June 36, record
June 22,

- Hayea-Dana Ltd., 12 cents,
Sept. 28, record Sept. 12.

Markel Financial Holdings
Lid., 6.25 cents, July 16,
record June 22,

Oxford Development
Group Ltd., 1st pfd., 25 cents,
June 30, record June 22,

DOLLAR

MONTREAL (CP) — U.S.
doilar in terms of Canadian
funds at 3:30 pm. EDT
Wednesday was down 11-100
at $1.1720. Pound sterling
Was Up 3-25 at $2.4059.

In New York, the Canadian
dollar was up 2-25 at $0.0532,
and pound sterling was up 3-
10 at $2.1040. ‘