recently. “management's its losses by more than 50 percent during the first six months of the current fiscal ’ year, accortling to an in- terim:’ report issued i] : The report cites increased sales yolumes,.-rate in- creases and successful management efforts to control costs as reasons for © the improvement in the utility’s financial picture | compared with the corresponding period last year. The report was released : by Hydro chairman Robert “W. Bonner who pointed cut that the loss figures for both half-years — $17.1 million for April through Sep- tember, 1976, down from -$34.9 million for. the same riod-in 1975 — are not ruly. indicative of the utility's year-end position because spring and summer are the slackest seasons of the year for Hydro sales. -:For example, the total ‘loss in. 1975-76 was $31.3 milllon, which was actualiy less than the loss figure for the first six months of that fiscal year. More significant, said Mr. ‘Bonner, is the fact that the rate of increase in Hydro’s revenue this year is sub- stantially greater than the rate of increase in its ex- penses. 7 In comparison to last year, ydro's ross revenues rose $59.2 million, or ‘281° percent while ex- penses increased by $41.3 mnillion.or 16.8 percent. . . Mr, Bonner said one of the ‘factors helping reduce the - pate of increase in Hydro’s been per- costs has formance in holding the line C.. Hydro halves _ ~.. losses — B.C. Hydro has reduced | on staffing requirements. Despite increasingly heavy workloads, he. said, the number of regular Hydro employees has nm reduced during the first six months of the current fiscal year. “Despite the measures taken during the first half of this year and the anticipated increase in transit revenue from bus fare adjustments ‘taking effect this month, Mr. Bonner said it still appears that Hydro will suffer an overall deficit by the end of the fiscal year next March 21. . **ve will be in much better shape than we were the previous year,” the Hydro chairman said, “but transit losses will still exceed our gains on other operations.” Mr. Bonner also drew attention .to the electric sales figures in the interim report. While the figures show an increase of 20.1 percent from the same six months. in 1975, the report points out that this is misleading because the previous year's sales were depressed by poor economic conditions and a_ lengthy work stoppage in the forest Industry. Going back to 1974, a more normal year, B.C, Hydro's average annual increase in electric sales volume is 6.8 percent over the past two years (April through Sep- tember only) and 7.9 per- cent for residential sales. The interim - report released is the first of what Hydro intends. as regular quarterly reports to tha public. (The planned report or the first quarter, ended June 30, could not be published because of labor problems this summer.) | NOTE Some people are talking about. development | aa Elect an: Alderwoman who is doing . something ‘about it Sharon Biggs (Hoy. 20th) . x __ * . Wem mes 0 PETER ALLCHIN, Manager Sales and Services “Marketing for CP Air in Prince Rupert, Terrace and Kitimat, is seen above presenting Richard Olson, the’ Terrace Rotary Club Radio-TV Auction Chairman with a pair of tickets for a round trip.to Amsterdam via CP Air which is the highlight item on this year’s annual auction. The tickets, valued at $2,500 are completely unrestricted allowing the successful bidder to travel at any time for any period of time. a] -” yo . Siew WE fe ” 4 This year’s auction which will be held on December 3 and 4 will see close fo 300 items on the block with a total value of more than $17,000. Same 30 of these items are valued in excess of $100 and include many seasonal needs such as winter tires, antifreeze, etc. as wellas many gift ideas for Christmas. A complete list of items will appear in the Terrace Herald in the issues published on November 24 and December 1. THE HERALD, Wednesday, November 17, 1976, PAGE At Busy weekend — for minor hockey It was another busy weekend for Terrace Minor Hockey Rep teams. on day at Terrace, the Peewee Reps defeated Kitimat's Peewees 5 to 1. er Tooms was top scorer with two goals. Other Terrace goals wére scored by Glen Palahicky, Mel Reimer and Mike Heit. The same teams played again Saturday and Terrace came up a 4to2 winner. Palahicky had a pair for Terrace. Reimer and Warren Riding got the others. ; Terrace Bantams travelled to Kitimat and came out on the short end of a4 to 3 score. Troy Fark- vam, Bruno Hidber and Ken Wideman scored the goals. _Terrace Pups went to Kitimat Sunday and came through with an 8 to 1 vic- tory over Kitimat’s Atom -Reps. Trevor Hendry was the big gunfor the Pups with a four goal performance. Terry Zaporzan chipped in with a pair while singles were notched by Henry Relmer . and Eddie DiGiovanni. Terrace Midgets and Juveniles were idle on the weekend, ; In a couple of games played last Wednesday, and one last Thursday Terrace Bantams defeated Kitimat Baritams 6 to 5 Wednesday, and 4 to 2 on Thursday. Terrace Pups downed Kitimat's Atom Reps 9 to 2 on Wednesday. . In other weekend games, Prince Rupert Midgets defeated Kitimat Midgets twice — 4 to 2 and 7 to 2. Rupert's Juveniles also won a pair against Kitimat's Juveniles by scores of Sto 9 and 8 to 2. Prince Rupert Peewees took two games from Smithers' Peewees by scores of 6 to 2 and 6 to 4. And. Prince Rupert's Bantams beat Smithers’ Bantams 4 lo 1 before playing to a 3 to 3-tie.- Tax Indexing in md deduction for the aged and tax brackets will be in- disabled will increase to- creased by 8.6 percent for . $1,420 from $1,310. In ad- the 1977 taxation year as a dition, the maximum result of the indexing plan exemption for children or pe al income taxes, under age 16 will rise to $430 Finance Minister Donald S. fram 3000, while for children Macdonald announced age 16 or over the recently. This will reduce corresponding increase is to federal revenues in 1977 by $780 from $720. $950 million. The 8.6 percent, indexing ‘The indexing plan, ap- adjustment is based on the proved by Parliament in increase in the. average 1973 and introduced with the Consumer Price Index for. 1974 taxation year, provides the 12-month period ending for an increase in the major in September 1976 over the - personal exemptions and corresponding average for deductions and tax bracket the preceding 12-month limits each year to reflect period. - changes in the Consumer — Mr. Macdonald said that Price Index. In this way ‘the indexing adjustment taxpayers are prevented reflects the inflation ex- from being pushed into perience of the pre-control Personal exemptions and higher tax brackets by as well as the control period purely inflationary in- and noted that the rate of creases in income. inflation has slowed Bill C-97, an Act to amend ‘markedly since the in- the Income Tax Act, which troduction of the anti- was tabled in the House of inflation program. For the on June 30; ,1978,. pagt. several, months; the...) 2. ) - parncracnn i » Commnens, prrag ee proposed that for the 1976 year-over-year increasés in, and-subsequent taxation © the Consumer Price Index’ years, the amounts Of have averaged close to 7 personal exemptions and percent, The September deductions be rounded tothe Consumer Price Index is nearest ten dollars. For only 65 percent above last 1977, as a result of the ap- September's level. Based on plication of the new indexing these statistics, it now actor and the. proposed appears certain that the rounding provision, the increase in the Consumer basic’ personal exemption Price Index from October will increase to §2,270 irom 1975 to October 1976 will be. its rounded level of $2,080, Jess than the target of 8 applicable to the current percent, ; year-Similarly, the married - Revenue Canada, exemption will increase to Taxation, will shortly $1,990 from $1,830. and the ‘distribute new withholding . 17, of Port Edward was y and Vl sign fot . @nd Pi signmy nametoit =. a : . . ve wo . Mae be . myn : . - of . . ub eg! wr ~ “€oncerned Citizens’ A | Want us to vote for a Vancouver style | . politicel slate. oe Re yo. uy hoe . Lot . so oe! a . : . . e wenn ner Se BR en Pe ee on ye 1977 tables which reflect these changes for the 1977 taxation year. Youth killed on highway Vernon Alan Johnson, age killed 13 miles west of Terrace on Yellowhead 16 about 5 a.m. on November 13 when the car he was driving went off the highway . into the ditch. Injured were a Vernon Clifford McMillan, ' age 21, of Prince Rupert; Margaret Gurney, age 16, of Give your Mechanic ~~. Snap-On Tools for Christmas _ He will appreciate one of our — _ Gift Certificates . SNAP-ON TOOLS GIFT CERTIFICATE . Please Send Me Your Gift Certificate for } $5 $20 $25 $50 $100 Prince Rupert and Perry MeMillian, age 17, of Prince |. Name. Rupert. © oe Address. roner Harry Smith is resently investigating and s ordered an inquest. SG Phone. . Mail to 4804 Tuck Ave. Terrace, B.C. ” "BOR FURTHER INFORMATION PHONE 635-3367 AFTER 6 P.M. Masterchargé’and Chargex accepted. ~ Walk a block.Today. _ is still available between: Our modern stee!-hulled covered barges with temperature-controlled SERVICE A reminder to our customers that Northland's. dependable freight service | Vancouver e Kitimat « Kemano e Terrac e © *Prince Rupert e *Stewart FREIGHT CLOSING TIMES | | £ environment ensure comalete protection for all your shipments. And for your perishables, our barges are _KEMANO (Europa Point & Triumph) General Cargo. . Cooler and Freezer Cargo 4:00 PM Mondays - 11:00 AM Tuesdays equipped with cooler and refrigerator units. . . ~ KITEMAT an : ve : ; General Cargo- 7 Roll-on roll-off service of container and “ :Cooler and Fraazer Cargo. 2:00 PM Tuesdays & Fridays 11:00 AM Tuesdays & Fridays, trailer loads combined with Northland’s interconnecting truck service will speed your cargo to its destination safely and - PRINCE RUPERT . General Cargo - - _ 2:00 PM Tuesdays & Fridays on time.. ; . ; Door to door and dock to door service to all ports except Kemano.:"”. , * Qooler and Freezer Cargo Cooler and Freezer Cargo Check with Northland STEWART |; “¢ " ‘General Cargo 4:00 PM Mondays & Thursdays Northland's covered barges gail from _ Vaiicouver for Kitimat every Tuesday - and Friday. SO 4 ‘TERRACE General Cargo Cooler and Freezer Cargo. Check with Norihland "2:00 PM Tuesdays & Fridays 11:00 AM Tuesdays & Fridays. “New rates {or Prince Rupert and Stewart, via: Kitimat, now in affact. Local distribution through Lindsay's Cartage and Storage. -~ NORTHLAND NAVIGATION co. LTD. 2265 Commissioner St. : Vancouver, B.C., Canada VSL 1A9 . Telephone: (604) 255-3535, Telex: 04-51165 Prince Rupert: 624-6200 & 624-6747 « Kitimat: 632-2131 » Terrace: 635-6234 « Stewart: 636-2443 -