RARWUCTSE COE S BC BOTS SERRE e + ; ree eee . * . : SR De ee ee ee eT eRe tt Shoe tee ee re ee Cee ee ce eee oe PAGE BS if ats ui fi | | Wife il (jl HA HRA HT il mth uf Wid _ P.W.A. ANNUAL ~~ REPORT .-: HIGHLIGHTS OF . THE REPORT: . -Operaling. revenues of . $72,841,318 for 1973 as compared with $57,520,027 for 1972 - up 26.6 per.cent. 9:7 _ *Net Cash flow rose from $6,902,965 in 1972 fo $8,220,992 in 1979, an increase of 19.1 per cent -Scheduled operations carried 1,625,212 passengers (up 36 per cent over 1972's 1,194,859), -Cargo.- (ons miles: for : domestic services ‘during 1973 totalled: 11,983,362: up --22,5 percent over (the 9,778,999 cargo ton miles in 1972... +The: contract” and “charter division. also. shawed healthy increases. -with “passetigers and. 44,328,316 ton . Tiles of cargo on domestic and -. dverseas operations, increases, “af 29.9 percent and 36.4 percent ~respectively, ¢ |. Some of the’ more significant pr evenis.of 1973 included the in- ‘woduction of ALFIE (Air Line Flight Information Electronics) .in May when Pacific Western “becomae :the ‘firs| Canadian ~ Regional. “carrier to offer. a completely computerized reservations service. ‘ The Company pruchased a . fight. simulator far 707 type , direraft. -) the only. one in 1 “4 Canada,added two ‘uireralt “to -its Meet- a Boeing -737' and a Lockheed | Hercules.’ and | dn- ~ nounced thal orders had: been placed for a Bueing 737 and - Boeing 727 for delivery in 1974 : with an ‘additional two 737's for. = delivery in 1975, 7 Anulher major project for the: » Airline ‘during 1973) was. .the » ddditian of sume: $0,000 square ** feet of office and hangar space. “This led tn the establishment of © the sysiema eperutions. control Centre (5.0.0, Contre) - which: ge: houses the now? integrated 5 functions. of. lifght~ planning. “ dispatch, crew’ routing. “planning. Asa resull of can: irulizing: these © Functions, uperutinnal efficiencies have Cuts Bain i chute. Faster, ahead, FM 18 Model Sugg. List, 120.95 Consumer 7 87,215. P cqvipment roving, payload - “controbe did: mainienance : increased substantially. 5 Pacific Western's scheduled Toute system now encompasses, some 14,000 miles in resource -tich Western and Northwestern Canada, . With the increasing: development of this, area’ and roule applications filed for Vancouver-Seattle, | Calgary- Lethbridge, Vancouver- Edmonton (One 'Steop) and Calagary-Chicage, 1974 should he another: heallhy year for Pacific Western. . ‘ B.GHALS, Annual Report Highlights from’ the B.C, Hospital Insurance Service 25 ‘Annual Report tabled Monday in the Legislature Assembly by the. Honourable Dennis G. Cacke, Minister of Health. In ‘the current fiscal year ending March 31, 1974, an estimated $268,000,000. will be paid by the BCHIS to hospitals loward. expenses incurred by residents. Daily payments. to B.C. hospitals have inereased frotn $50,000 in 1949 - 50 the first complete fiscal year coverage, la-$784,000 for euch of the 365 days in 1973-74. - . The. B.C; hospital con- _struclion. program, since January 1..1949 has a produced a total of 12, 851 beds tacute and exlended care) al a lotal cost of . approximately $237,289,329. In Jatter years, mos! of. these . projects have been financed by the Provincial, Government - through * Regional Hospital Districts . with the. Province contributing 60 per cent of (he approved cost and (he Regional ‘Hospital District the remaining 40 per cent. “In the past year, ‘new huspitals, major additions and renovalion projects in- volved a total of 1,071 beds; while construction cosis were THE HERALD, TERRACE, B.C. Canadian Failures Rise, Government spending - but Liabilities Decline Upturning §.3 percent in December, Canadian business failures climbed to 197 after dropping sharply to 187, in November, reports Dun & Bradstreet. However, Canada did nol retukn to their September-October level and ‘ran 19.3 percent under the.244 in the comparable month af 1972, During the year 1973, a total of 2,718 businesses failed, sub- siding from 1972's 40-year peak of 2,848... a ‘ Contrary to the rise in the number of failures during December, _ their liabilities fell some 17 per cent Lo $18.3 million, well below the year-ago volume of $40.0 million, Casaulties in the $5,000 to $25,000 and $25,000 to $100,000 size groups, accounted for nearly all of the increase from a month earlier. ‘Compared with the like month of 1972, decreases occurred in all size Broups except $25,000 to $100,000 which’ remained ihe same. additional ‘beds for. open héart surgery came inlo operation at the) Vancouver General Hospital. A new. 15*unil was opened at St, Paul's.Hospital, Vancouver, and - existing surgical facilities al the Royal _dubilee Hospital, Victoria, were renovated und- upgraded (o carry vu! heart surgery. | Responsibility. for getling into operalion three new in- lermediate care hospitals located al Vancouver, Burnaby, and Kamloops was assigned lo the Hospital Insurance Service in .December 1973 and are expecied 10 come inlo “use shortly. St ; Preliminary planning for the . B.C. Medical Centre is under way. The cancepl is to use “Shaughnessy Hospital, Van- couver and its approximately 50 acre site.as the base for the Centre, and al the time of printing, the federal and provincial teams were close lo resolving all major issues with regards {0 a transter of - Shaughnessy Hospital to | \ provincial jurisdiction. . Discussions were held-and an agreemen| reached between the Minister of Health and the y Hospital Employees Union for approximately $27,800,000. :As “(he orderly elimination of the year drew to a Glose, some»: discriminiafion in. .wages, 1,000 beds were under con-- “struction in: 8.0, and 550. new . beds were in advanced stages af. planning. Expanded facilities ‘and: “2 Ts te January: 4, 1973 for -all ‘employees. earning less than” _ the grass and : eliminates the — clippings! gz ;This mower cuts the grass, then cuts and re-cuts the clippings into a fine mulch that disappears down into your lawn,.No bag to empty. No clippings to rake. No thalch build up. No dangerous discharge safer, cleaner than anything else . you've used. Available in 22" self-propelled, 22” and 18” hand-propallad, models. Bolens. A good yard-.’ Products For details on the full jink of Bolens Riding Mowers, Mulching Mowers, Tractors and Garden Tillers, see: Terrace Equipment Sales Ltd. — > Terrace, B.C. >, OM8IM: aS ‘changed. ealegory and promotion of. female employees. As a first “ siep toward (he achievement of wage parity, funds for a special salary ‘adjusiment’ retroactive $069.50 per month, ©, made available lo ‘hospitals, ‘The agreement. calls ‘for the | _.\ negotiating parties to ensure all * discrimination in’‘wage rates, . job description, elc. shall be ended by January, 1, 1976. - “gash grants on hospital con- _ struction projects financed by "hospitals were changed during the yéar to the sharing basis (60 +40 percent) which -previously upplied « oniy "la. projects financed under the Regional . Ristriet Act.) . “An Order-In-Council was "passed: under whieh the equipmenl gran! structure was ‘This gnubles- the _ Hdsplial Insurance Service lo pay a 100 per cant grant, on approved equipment, instead of the usual one-third grant, where thé equipmen! purchase: will resull in savings of, approved operating costs and recovery of ihe capital cost in a reasonable lime, Otherwise, a Pravinelal - grant of. 33.and one-third per cent is available. During the year a bursary program for occupational and phystolherapy students to ‘assist in flnancing their training was , authorized by the Government. Under the training program, students. in the second, third, and fourth year are required ‘during the summer to: obtain raciical experience in hospital * instilulianal settings and. 46 @ - ‘resull their opportunities (o earn money are very limited. dollar : “Tha Regulations governing , Cumulative losses,; for the year came to $320.1 million, more Chan the $249,9 million in 1972 but below the record $327 in O71. _ Construction and ‘wholesale mortality climbed considerably " from November to December. Incontrast, commercial service rasuallties fell during the month while manufacturing and retailing laltures held even, On a yearly comparizon, all func- lions except wholesaling had less concerns failing than. in December 1972, .. © Quebee and Ontario failures rose during December whereas, five’ provinces had. fewer failures than in the prior month, All ‘provinces, except New Brunswick, and Manitoba, had fewer concerns becoming casualties than in the com-- pareble ‘72 month. Both: cities’ and non-metropolitan areas had upturns from the previous month but remained short of their year earlier levels. 2 . _ For the first time, a Student Summer Employment Program sponsored by {he Provincial Government provided funds to hospitals, BCHIS ‘administered. the appropriation for hospitals, and under the program almost | 1,000 students were employed for periods ranging from eight to sixleen weeks ala cost of $1,300,000. os There were 373, 007. BCHIS adull and children patients B.C. hospilals in 1973, a decrease of 2,366 or 0.6'per cent less than ‘1972. The Service paid public hospitals in B.C. for 3,261,696 days of care.for adulls and children days of care for adulls und .children, a.decrease of 61,556 days or 1.9 per cent Jess than 1972... - : The average length af stay for adult and child patients in B.C. . public hospitals in 1973 was 8.74 days while the days of care per thousand population totalled 1,602. In addition 451 days of’ “¢are per thousand population were: provided for extended care patients, - The decreased lengthof stay is a result af more - effective utilization of hospital beds and ambulatory services, ‘which is particularly reflected in ‘the .significan! increase .in day care surgery (44,633 in 1972 -and 51,000 in 1973.) 1973 610 “XL “2000 1973 DATSU 1973 610 200 4 Dr. HT. Fury UL Blue & White Options Galora, Flaming Yellow 1972 CORTINA 4 Dr. Sadan; Damonstrator Station Wagon, Flaming ned, wo te . $3295 1968 OLDS | Convertibie, Spring is here 1968 CHRYS 1969 PLYMOUTH will fuel inflation = Government spending Is rising faster than the Gross National Product in Canada and this will ‘‘fuel inflation to even greater heights," the new Chairman of the Grocery Products Manufac-. turers of Canada sald today. . ; Logan R. Brown quoted a call by the Economic Council of Canada to government to keep its spending more in line with the productive resources of the country. : : Mr. Brown, President of Robin Hood Multifoods Limited of Montreal, was installed as Chairman of the grocery industry organization at its. annual meeting in Vancouver loday. Grocery . Praducts Manufacturers of Canada represents more than 80 major - manufacturing and processing companies ‘in the food and related grocery products fields. _ Hesaid that therais danger in the belief that the government can solve all our problems. Government spending ‘‘to try-and solve every problam” is reaching the point where it Is approaching 50 percent of Canada’s gross national product. At the same “citizens' expectations of government are also rising too high, a condition which eventually brings disillusionment." ’ Mr. Brown said. that, without cost controls, any talk of arbitrary price conorols is highly unrealistic and potentially destructive. “Can this country-whose people have prospered so much from international free trade and whose government has long opposed ‘increased.-barriers to world trade-afford.to initiate piecemeal policies ‘which could curtail the international flow of com- modilies?”’ he asked, - . : _Mr.. Brown told the meeting that the .food and beverage _ Processing industry . is the largest. manufacturing industry in Canada and one of the moat efficient. Canadians, he said, spend the ~ second lowest amount of disposable income on food af any people in ’ the world. “I think we have the right to ask what overall goal will _° be accomplished thraugh a policy: of sporadic and haphazard in- :-Lervention inte the economic system," he said..‘“There is a temp- lalion, in times of rising preces, to pramote subsidies as the answer ‘to.increases in the bagie foad costs. However,” he said, “subsidies ’- have a tendency to become entrenched and, as soon as this hap- pens, they lose their effectiveness.” ~ ; et -In pursuing current -policies, Mr. Hrown said, the federal government is attacking the wrong target. Rising food.costs are the result of inflation and, while it is true that shortages of foad- stuffs have driven basic food commodities upwards, the whole _specirum of foad praduction is also affected. — , Higher cost of fuel has led to increases in transportation costs, as well as in Lhe price of packaging materials, all of ‘which have-an impact on food.t , yo, The government’s altempt to roll back a rise in bread prices is “a prime example of a short-term attempt to regulate the market place that bodes ill for the consumer in the long run,” said Mr. _ Brown. : “Like any industry, bakers need a reasonable profit to be able to Invest in new equipment and to become more efficient which, in ’ urn, will help keep prices in line. The baking industry - of all . __ Segments of the food business -has beenone of theanost depressed, with slim or non-existent profils for years and, in the past three or four years, many bakeries, even large ones, have been forced to ose. . - ; “Only ‘one government, that of Quebec, has recognized the baker’s plight, and last year placed a Moor on bread prices. to assure a reasonable return,” he said. . Se Fe While questioning ‘short-term policies, Mr. Brown said the federal government has shown “responsibility and wisdom”. in cerlain ‘long-term positive solutions for consumer welfare.. The new Grocery Products Man-ifacturers of Canada Chairman ex- | ~ pressed support.for the Nut-ition Canada:recommendation: that - - effeclive programs be developed by government and industry to inform and motiyate.the Canadian public to realize the value of hi: . “ amrition and algo for the setting of. standards for packaging and 4. . ‘ay cea ae earl eects e eling. — Then . see . $1895 N$2995 : Beatle Coralla LER PUN Oped e. 08 ¢@. Sac tee 1971 TOYOTA . 1968 RAMBLER Ambassador 4 Dr. - 1973 DATSUN | 6102 Dr. H.T., {heir mineral claims due to non- yment of rental even though ong ‘term Utle had been established through assessment work, BC Minister of Mines, Leo T.. Nimsick- brought in - laws requiring the payment of ‘rental’ on mineral claims in the Province.. Prior to this, a Mineral Claim was held by virtue of iis holder doing. suf- ficlent work each year. It was possible ta establish good title to claim for several years in ad- yance by daing more than work required for.one year. ~ Acommonsituation in BC has been whére a large mining company works on 4a Prospector's. property, establishing years of “good lille” for him. Subsequent, relinquishment of the work agreement by the company left the Prospector with good title for years, Now, under NDP who purports to support the ‘little guy’ the Prospector msul pay rental on Mineral Claims which,’ under the contract with the BC WEDNESDAY, APRIL 3, 1974 _--Mineral Claim Expiry . - Breach of Contract. = “Prospectore in BC are losing - Government were supposed to be in good standing for some time. ‘Thus he cannot sit out adverse limes such as. the present. . Each. Mineral Claim tide, or ‘record’ as it is called, is established joy a written statement signed by the Mining Recorder: of the District, representing the BC Govern- ment. This a contract, is now heing breached .and — the Propsector, in many cases unable (o pay the rental, is losing his mineral claims.” _ . Many see the this as a move for Government to move in on © mineral showings with a ‘yet to be formed’ lax _ prospecting-exploration- development company. The number of * Mineral ‘Claims held in BC has plunged to new lows for recent times. Much of this is due to forfeiture of rights due to failure to pay- the new rental. The balance, due Lo repressive -and discretionary - legislation ‘brought in by the: BC..NDP Government. . - 5 financed . SPECIAL TAX CALUCATION ENDS FOR STOCK OPTIONS From the Inslitute of Char- served Accountants of Brilish Culumbia 1973 was whe last year "thal _ special tax calculations can be who’ mude- by employees receive stock options from their employer, - Fram new. en, iaxable beaesils will be taxed al | regular, less beneficial rates. Those who received options in 1v73. ure deemed to have received a jaxable benefit equal .o she difference between their cost itd the fair market ‘value nf she shares a the lime they aequire them, This benefit must be included 1h. he entployee’s: income and tania. be veduced by brokerage fees. Te empluyee muy elect to” pay oaxs on the benefit ata special Fates if the benefil was during 1974, It he elects dts all you really need. _. : oe 1963 FORD 4 Or, Sedan 1966 METEOR . 4 Dr. Sedan, Red. - 1968 PONTIAC. . Parisienne, Green, 2 Dr. H.T. 1968 VOLKSWAGON Station Wagon 1964 VOLKSW 9, ‘Tax an the stock aplion ob- ” tained by \a)-dividing the taxes payable; in the three immediately preceding years (1970, 1971, . 1972) by the taxpayer's ‘net incume (as indicaled on lax © return)* and . tb) multiplying the rale ob- iained in ta) by -the taxable benefit; and tel subtracting frum (b) the: | fess uf (i). 20 per cenl of (he . benefit, or Gil $200 : ©The taxable payable in the ihvee, immediately preceding’. years is lax before making any deduction, © for deducted from the lax payable ig the provincial tax abalement _ for years phior to 172 or” “The “net income’ of the three immediately preceding years”. does not include any’ deemed - received in those | benelis” years fram ihe exercise of stock “uplious. poe ; As nentioned, jhis special ax calculat jon, will nol-be available. - after 7. $300 ~ $600 1195 Tene Mage VEE ft 500 1495 $795. $3195) foreign oor: - dividend tax credits.. 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