Tories

missed

i

their chance

“VANCOUVER (CP) —

H enough.
AY self-respecting
“bureaucrat can . make
chimaelf absolutely  in-
dis ma le in two ‘mouths
. governm
fact given the senior bares

pai an an opportunity to
le,"

Walker sald ine Pecet
terview,

TS AGO,

1 to come
‘through .with staff and
budget cuts.
. Those tough, fighting
words are

: “The governmental
" process has become a self
“serving ‘process, a
‘bureaucracy which is more

: concerned. “hen ol bila

‘Rutt ep Publis yoo” cad

Tred eden as drvnloes

a ern of business
leaders the funds to
“set up-the institute in oubats

themainstream . Vancouve!
more than: coineldentally
when were ie
 provinetal governments in
‘British Columbia, Sas-
‘a ‘ami Manitoba.

Back then, recalls Walker,

“the inatitute: was called ex-
"tremist “and a whole range
-of uncharitable things’
because lis cut went against

the popular wgra
vapours si ake
ia economy. .

ae | would rather look at the

, that . a: vale
. econom
erin eg a

Fraser Institute not as being
left-wing or right-wing, bu

as being an institute which it
endeavoring to find out the
economic forces that are at
work,” he said,

“But economies by ita

dl -siaGureis a sclence of

with scarcity, So it im’t
surprising that in most cases
the conclusions you come up
with are not going to be Mend
sympathetic to the left-1l
kind of attitude. .
“That's the hallmark of
our stuff..We don’t take a
position unless it’s based on

sound principle and a body of °

well-accepted evidence."
From its early maverick
days, the Institute has won
wide acceptance, boasting
$20 corporate and individual
members and 16 books sold
in bookstores and: an
newsatands in 40 countries,
including three best-sellers

and some that have beconie’

required reading in several
North American univer-
“rs “has iso quired.
‘ASCr also ac
nding board’ of
directors t now includes
two Nobel Prize. laureates,
economists Milton Friedman
and F. A, Hayek,
Walker, although _ he

* doean't like to overplay it,

attributes at least some of
the institute's success fo its
Western Canada locale
which helps it avold what he
calls the insidious influence
of eastern policy-makers.

“There is an advantage in
that the West is in some

senses more a reflection of .

the real world than the real
world Is,,One does not ob-

' serve ting reeras ie process
opera re more .
damentaily than in Ottawa, -
certainly, where the eco- —

nomic process is made up

- largely-of Boverntnent. : i

“The farther you get away
from. that and the wii fe you

can get to the va
more your analysis suki
to be formed what what is
actually happening in the
real world."

Walker, often sought by

the national media for
comments on economic
developments, said his
personal views have been
wnire and flavored”. his

Cornerbrock,
Nid.

EARNINGS

By THE CANADIAN PRESS

- Headway - Chep. Led., six
months end ended May 31: 1979,
$778,000, 26 cents a share;
1878, 17,000, Vt ceats.

. Norands Mines Ld, aly,
months ended June 90: 1979,
$140,300,000, $5.06 a share:
1978, » $45,700,000, $1.65.

United Ashestoe-Inc., year.

ended ‘March $1: 1978,
96,762,-704, 96 cents a share:
-1877, ‘$7,138,009, $1.01.

DOLLAR

MONTREAL (CP) — US.
dollar in terms of Canadian
funds at 3:3) pm. EDT
Wednesday was down 3-20 at
$1.1600. Pound, sterling was
up 3.23 at $2 5882,

In New York, the Canadian |

dollac was up 11-100. at
$0.9621, and pound sterling
was up 1,07 at $2.2912.

STOCKS

TORONTO (cp iver
Toronto stock mark ot vee
. down sharply at the close of
activa trading Wednesday.

The TSE $00 Index dropped
16.01; to 1568.95,

Oil and stocks, which

te,
mary hema econ fs
long.
Volume wee Heo militon
” Tueaday. *

Among lt iccistrials, Gulf
Canada fell to 4%,
Home Oil B Me to ae
Falconbridge Nickel A 9% to
$99%, Dome Petroleum 2 to
a. "and Murphy Ol 1% to

gcott-LaSelle rose 13 cents
to $1.85, Pencaria Industrics
12 cents to 91,86 nacl CAE In-

Mining and Smel %
0%. Hollinger Mines A
advanced 134° and

Sherritt Gordon oy $105.
Ih

4 , Ranger
| att Amalgamated

Bonanza was Up
% to a8 and Lassiter Kuma
Olle 5 conte to. centa.

Pan-

VANCOUVER (CP) —
Prices were down in heaving
trading Wednesday on the
Vaneouver Stock Exchange

with a closing volume of

4,440,505 shares,

In the industrials, Com-
putrex Centres was un-
changed at .24 on 12,000

COFFEE
PRICES
RISING.

TORONTO (CP) —
increase in the price “I
coffee beans is behind a
25-cent-apound inerease

. to retailers, Canada’s

said Wednesday.

General Foods Ltd. said
risen in price on woeld
markets and. there was

the increase onto custom-
ere when shelf stock is
gone.

General Foods. seli sells

ell
Yuban, Mellow 5 Roast re]
Brim brands,

Instant coffee,
however, will not be hit by
the increase, 4 General
Fools spokesman said,

Standard Brands put its
prices up 10 canis on
Chase and Sanborn and
Trend on June 6 and up
another 15 cents on July 3.

It has made no further
announcement on price
increases but a company
official said the General

studied. °

largest coffee wholesaler-
dreen coffee beans have.

little choice’ but fo pass. |‘

Foods move was # heing

MONTREAL (CP) —
Imasco Ltd. announced at its
e7th annual meeting Wed-
nesday that earnings in the
fiscal year ended March 3
reached $58.4 million before
extraordinary Items, 31 per
‘cent higher than a year
earlier,

Earnings per share on a
fully diluted basis were $5,40
compared with $4,42 in the
previous year, an increase of.

_ @ per cent; said newly-
pamed president Edmond

. Ricard, Extraordinary items
added $1.3 million to
nings.

Totai sales of all divisions
of the tobacco, retailing and
food . processing
conglomerate inreased 48
per cent to $1,587 billion. :

Imasco chairman Paul
Pare, formerly company
president, once again
denounced moves aimed at
splitting Quebec from
Canada, and he attacked

~ Parl Quebecois plans to hold
an’ independence referen-
dum in the spring

“A referendum ... leaves

_the impression of being no
more than an exaggerated
public opinion poll and, when
~ conducted by a party with a

: vested interest in the out-

Car-.

come, ita validity as an in-
dication of public wishes is

questionable,” Pare said.

During the year [masco
contributed $1,600 “to
federal ard provincial
parties which support the

principle of a atrong private
sector and
Canada” and an additional

the unity of
$50,000 to the ProCanada

“Foundation, a Montreal-

based federalist . organ-
ization.

The meeting was told that
Imperial Tobacco Ltd. of
Montreal, Imasco's biggest
subsidiary, showed sales of
$741 ey an increase oof
H cent, and operating
earplugs totalled nearly $76
milllon, up 15 per cent.
Cigarette | "Prices increased
by about 10 per cent and
sales rose about two per cent
despite health warnings.

Imperial Tobacco, which
makes Player's, du Maurier,

Matinee, Peter Jackson,:

Cameo and other popular
brands of cigarettes, saw its

_ Share of the Canadian

tobacco market rise to 42 per
cent from 40 per cent a year
earlier. Through General
Cigar Co. Ltd, of Montreal, it
holds 87 per cent of the cigar
market.

Pare sald later the unex-
pected rise in cigarette
sales, spurred by thesuccess
of “lowtar brands, has
tightened Imasco’s cash

ton because the com-
pany has to make new in-
vestments in machinery and
inventory.

Sales in Imaseo's food
processing division
10 per cent to $198 m
largely because of thes sale of
troubled U.S. holdings, But
earnings from food
operations increased 68 per
cent to $14 million.

Imascto-owned Unico
Foods Ltd. of Toronto and
Grissol Foods Ltd. of
Montreal, one with its
Taillefer meats,
Bisuite Moatmagny and Viau
biacuits divisions, all showed

Earnings from retail oper-
atlona, meanwhile, were $22
million, several times higher
than a year earlier.

Sales were up 205 per cent
to $0874 mil on,  agtaely
because of the it ulsitlon of

ppers Drug Mart Blores:
and Embassy Cleaners by
pnnsce unit Koffler Stores
td. of Toronto. Shoppers
Drug Mart owns the Top
Drug Mart chain and 50 per

The Herald, Thursday, July 12, 1079, Page 5

Tobacco company does well

cent of the Pharmaprix
chain

Sales of the United Cigar
Store group, which includes
the money-losing Collegiate
Sports and Arlington Sports
stores, as well as men’s
fashion stores and tobacco-
shop franchiser The Tinder
Box International Ltd. of
Santa Monica, Calif,, in-
creased 10 per cent.

. Prolirainary indications
for the second quarter of 1973

show system-wide sales up

Imasco holds a 21-per-cent
interest in Canada Nor-
thwest Land Ltd. of Calgary
and Hardee's Food Systems .
Ine, of Rokey Mount, N.C., a
fast food chain.

It recently established
Imasco Capital Management
Inc. to provide investment
advice to pension funds.

Dept. store sales up

OTTAWA (CP) — Depart-
ment store sales totalled $685
million in May, an increase
of a cent over the same

a year ago, Statistics

Canada reported Tuesday.

Sales were up in all regions
with the biggest entage
increases in Saskatchewan
— up 16.2 per cent from a
year earlier to $18.7 million
— and British Columbia, up
15.8 per cent to $107 million,

Sales in Alberta were $92.7

milllon in May, up 14.4 per
cent from May, 1978. Sales in
Manitoba rose 9.8 par cent to
$87.6 million.

In Ontarlo, department
stores reported sales of
$248.4 million, an increase of
10.1 per cent from a year ago
and in Quebec, sales rose
11.1 per cent to $135.3
milli

on.

Sales in the four Allantic
provinces were up 14 per
cent in May to $45.8 million.

@

Keep Canada Beautiful

"BUSINESS DIRECTORY

VAN’S CONTRACTING

Furniture Repair

Restorations, Hope Chests
Custom Made Furniture

Refinishing

sha"

’ Ready Mix Concrete, Sand, Gravel, Top Soll, Drain
rock, Patio Blocks, Concrete Gravel, Bags of
Cement, “s Yard Concrete Mixer available for rent,

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

S| General Building Contracting HOURS: |
635-5585 “|Weekdays 6:30 am - 12 midnight
2510 Kalum St. —‘ Terrace} { Plan OU Kreme Road weekenss 9:00 am to 12 midnight

Wayside Groceries
4711-G Keith Ave.

Your friendly convenience store

Sit

For Insights |

—Business Insurance
these —Inepme replacements... 60 Goo ut:
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into Insurance

oRetirenien neti

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au

Ro "Mfe stone Tit HS EVERTHNL

Residential - Industrial

1 WOR

a ~ 3922 D “FOR WTR. P.O. Box 534 PHONE 635-9319
Business MoanwvAcite Business | 635-3546 lo unecse AD GATS 4 0068 TERRACE, B.C. V8G 485 OR 635-9320
635.9236 The Manufacturers Lite Insurance Company 635-9236, WATCH FOR OUR COLUMN ‘ASK KOBE’ Insfall & Service Gas, Wood & Ojf Furnaces

Plumbing - Heating - Commercial Servicing

and Sheet Metal Shap

_ Charlie Belanger
PLUMBING & HEATING LTB.

“Untque ‘Bathroom Boutlque”
44346 LAKELSE AVENUE

- Specializing Gas Fitting

hs VAag E . fhyg hs

Totineite

WEEKDAYS 8-11

EASTSIDE

GROCERY & LAUNDROMAT

OPEN
7 DAYS A WEEK

To Serve. You

WEEKENDS 9-11

Terrace Electronic Repairs Ltd.
SERVING TERRACE & KITIMAT

Philips, Magnavox, Zenith

" Mon.-Sat. — 9 am.

AUTHORIZED
SERVICE
DEPOT

Sanyo, Teshiba

MR. BUSINESSMAN!
This Space Is Reserved

sale

‘Custom finishing - Renovations - Additions
CEDAR SPECIALISTS

635-4656 Terrace, B.C.

S A Complete Glass and
Aluminum Service

4438 Lakelse 635-2104 MoncGat. = Yam. 6 pan. For Your Ad.
YOUR FRIENDLY CONVENIENCE STORE 4633 Lakelse 635-4543
| GLACIER
EDAR L. el D&A JANITOR SERVICE
. . P a egion Avenue
[47/ 4] L737 A a Terrace, B. c, Rug cleaning by hot water extraction

f) 5 ae 2rooms & hallway - $70 - most houses
** oe FREE ESTIMATES

635-6622

4732 Halliwell .

shares and Ardiem was [J

unchanged at .22 on 11,000.
Bank of Britlsh Columbia
was unchanged at $34 on
10,000 and Taro was down .05
at $3.50 on 4,000. Daon
Development was up 1-2 at
$17 and Pagurian was down
35 at $4.25.

Azure was down .02 at $1.05
on 271,600 shares on the re-
source and development
board, while Barrier Reef
was up .08 at $1. 10 on 155,200,
Cima was up .06 at $1.10 on
150,514 and New Cinch

_ Uranium was down 25 at

$8.55 on 144,500. Yukon
Revenue Mines was up .02 at
55 and Silver Chief Minerals
was up 19 at $1.80.

e curb exchange, Ari-
zona Silver was up 25 at
$2.00 on 167,933 shares and
Ascot Petroleum was up .06
at $1.22 on 87,950. Poney
Explorations was up .10 at
81 on 54,700 and Neptune
was down 14 at $1.23 on

64,967. Alcum Mining was up

SS at $2.65 and Poney Ex- -
ploration Warrants was up

03 at .18.

3212 KALUM

Smooth Sailing

—

to the —

PHONE 635-6357

‘itn; Cleaners Ltd.

“*' FOR THE BEST IN
SUEDE AND LEATHER
CLEANING .
2 LOCATIONS
4404 Legian Avenue and Mini Mall
(Next to Mr, Mikes)

635-2838

Call BILL or DALE
638-8277 or 635-3967

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

Handyman Unlimited

1743 Mountainview
Terrace, B.C.

} 3908 KALUM

Pro-Tech Electronics Engineoring
SERVING TERRACE & KITIMAT

We Service All Commercial & Home Entertainment
Appliances Including Micrawave
Warranty Depot
"Satiyo Soundesign, Kenwood. Admiral
Morse Electrophonic
Hammond Certified Technician

635-5134

finishing &
remodelling

MAR COUX Offices, Custom

635-2359

6-3916 Mountainview Ave., Terrace

homes, Fireplaces

& General Carpentry

HEATING ALTERA

PHONE 638-1466

RESIDENTIAL Cutne’s HOT WATER

IONS &

2- 4717 WALSH AVE.
TERRACE, B.C.

Call us at 635-6357 9 to 5