Despite his polished delivery, Sen. Ray Perrault’s speech to
Terrace businessmen here Friday night drew only scat-
tered applause and no questions from the floor.

f

Senator urges businessmen

Co-operate with gov't

Herald Staff
The econom

strong if the federal and
provincial governments
work in conjunction with
small business, said Senator
Ray Perrault in a speech
made at the Terrace Hotel
Friday night.

Perrault made the speech
to 58 people at a dinner co-
sponsored by the Chamber
of Commerce and En-
terprise Canada 77, a
federal campaign of the
ministry of industry, trade
and commerce.

Co-operation was the
underlying principal of
Perrault’s speech. “The
solution to our problems lies
in a co-operative effortt
amongst bit business, small
business and government”
said Perrault.

“The government
believes it is impossible to
spend our way out of
trouble” he said. Instead,
the government is looking to

small business to help -

economic recovery.

Plan needs approval |

Cancel tackles PCB

Canadian Cellulose says it
is. havaing  cintinuin
siscussions with federal an
provincial environmental
authorities on a-plan to seal
and contain pelychorinated
biphenyl (PCB) found in a
small area of Porpose
Harbour near Prince

Rupert.
e chemical compound
is alleged to have escaped
into the company’s pulp mill
log pond area through a roof
drain following an ac-
cidental electrical tran
sformer explosion last
January.

Donald Best, Senior Vice-
president of operation, said

mplementation=. of the”

proposal: will start as ‘soon’
as it} is approved by ail!
appalicable governmental
agencies. Best said the
proposal was submitted by
the company at the request
of . environmental
authorities, though in-
dependent testing of the
harbour bottom has
revealed relatively low
concentrations of PCBs.

Best said the company
commissioned two in-
dependent _ professional
organizations to scien-
tifically sample and test for
PCB presence. In addition,
analysis procedures and
sample results were double
checked by the Ontario
Research Foundation which
has long standing
recognized expertise in PCB
analysis.

The concentration level
revealed in these tests
ranged from less than one
part per million to a high of
12.4 parts per million,
dramatically below the
50,000 to 100,000 parts per
million reported in the

media. .
’ Best said that, contrary to
recent public allegations by
environmentalists, t
company has been workin,
in copoperation wit

Bridge
| tenders
called —

Tenders have been called
to be opened Oct. 25 for
three new bridges on
Yellowhead Highway 16 at
Agate Creek, Igneous Creek
and Kwinitsa Creek, it was
announced today by high-
ways and public works
Minister Alex Fraser and
Skeena’ electoral district
MLA Cyril Shelford.

The three crossings are
located at 94.4 kilometres
(59 miles), 92.4 kilometres
(58 miles), 81.6 kilometres
(51 miles) west of Terrace.

Agate Creek and Ingeous
Creek bridges will be two-
span, 63’ prestressed con-
crete box stringer bridges
and Kwinitsa Creek will bea
two span, 125’ prestressed
concrete box stringer. _

The abutments and piers
will be reinforced concrete
caps on steel pipe piles.

to. .get. invalved. in. public .
; debate while the:matter is:
still before the courts,’ Best ~~

provincial and federal
environmental authriities
since the explosion to
develop a ‘feasible plan to
contain any PCB’s which
may have escaped into the
log pond area. —

He said this effort was
complicated by the fact that
the same federal depart-
ment with which the com-
pany is co-operating ta
minimize
ecological damage is also
involved in pressing
criminal charges under the
fisheries act. concerning the
transformer explosion.

; “We haye.-been.reluctant

explained.

He suggested comments
made by certain federal
environment protection
service employees while
court proceddings remain in
process as to the possible
evel of PCB concentrations
in Porpoise Harbour were
improper.

Best reiterated that test
results obtained from in-
dependent, reputable
scientific bodies are very
radically lower than those
the EPS has obtained so far.

and possible -

“No one has been able to
determine the reason for the
wide disparity in results,”
he said. “But one has to
question the propriety of
one-sided public comment
before a trial is cimplete,

and when so doing, without.

teference to the complete
story of the testing, par-
tic arly the results ob-
tained from the independent
sampling program.’

Consulting engineers and
the company’s own
engineering and scientific
staff examined in detail
several containmen
possibilities befo
recommending the

"proposal, Best reported. «

“It is our opinion that the
proposal will preclude any
sibility of the chemical
om migrating to an area
where it might enter the
food chain,” Best said.

“While not attempting to —

minimize in any way the
hazards of PCB con-
tamination, it has been
irresponsible to unduly
alarm the publie with
reported PCB concentration
levels that are in serious
conflict with scientific fest
results,” Best said.

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“Eighty-five per cent of
all businesses in Canada
loy 100 le or fewer”
Perrault. They have a
pride in their contribution to
society and believe in hard
work.” It is this hard work
that the government ho
to cash on in bringing
strength to this country.

But small businessmen
have an aversion to the
federal government. At the

lovernment-sponso:

inner where Perralut
spoke, a third of the seata
were empty. The press sat
along one wall, bankers
along the other. Few seats
were full in the centre.

The government knows it
is un) . Perrault cited
a national survey of
businessmen done last year
where ‘government was
viewed as remote, complex
and unsympathetic. This
remoteness wasn't just a

matter of making a phone |

call or taking a plane trip; it
was a perceived
remoteness.”

In the great tradition of Canada Savings
Bands, two new bonds are being offered this
year —the Compound Interest Bond and the
Regdlar Interest Bond. The new bonds, which
have been specifically designed to meet the savings
goals of millions of Canadians, are now on sale.

_ THE |
NEW FEATURES:
1. INTEREST ON YOURINTEREST.
 Intereston the Compound Interest Bond is * «
left to accumulate, earning interest on your
interest after the first-year at the average
annual yield to maturity of the Series.

2. DIRECT DEPOSIT OPTION. .

The Regular Interest Bond, which pays
interest each Nov. 1, offers the desirable
option of having interest deposited directly
into your chequing or savings account.

3. DENOMINATIONS.

The Regular Interest Bond comes in
denominations starting at $300, while the
minimum denomination of the Compound
Interest Bond is $100.

4. ADDED CONVENIENCE.
_ Since the new bonds do not have coupons,
there is nothing to clip, handle, ar possibly

lose.
5. A NEW SIZE.

The new bonds are smaller in size than
thase previously produced. This makes for
easier handling and safekeeping. _

AGOOD RETURN

New Canada Savings Bonds are dated
November t, 1977 and yield an average
annual interest of 8.06% when held to
maturity in 1986. Each new bond begins with
7% interest the first year and earns 8.25%
interest for each of the remaining 8 years:

_ON

provides $5 million to assist

nh mondernization, ex-
pansion or establishemnt of
small business.

To overcome the con-
fusion surrounding various
overnment programs,
errault- announced a
manual of government -
services available to the
small businessman.

To bring bureaucrats ct
closer to those they serve, together.
Pao aulocate funds through 42% ,fedezal, government
ans to reduce paperwor
the enterprise development fh government dealin s.
program. “We want to do away with
Ben Wosk, the furniture Some of the wastepaper
‘store magnate of the baskets of the country.
Vancouver area, has been said Perrault.
named chairman of B.C.’s “ ;
pee! Gini oR “eae spa
Wosk was chosen on his paerre
performance as an en- spent in filling these forms
will be about $4 million over

trepreneur. Wosk came to ithe six years of their with-
the province as A poor drawal”, he said,

example of two govern-
ments working together —
not pliiticking, but working

immigrant. Now his is one of .
the wealthiest men in the _ Most of the cuts will come
province. from amendments to the

Corporations and Labor
Union Returns Act. Fewer
companies will be asked to
report.

In an interview prior to
the speech, Perrault said
the number of actual forms
has also been cut.

_ The purpose of the En-
terprise Developmen
Program is to make loan of
up to $200,000 for innovation -
in business. A joint
‘agreement B.C, has with the
federal government

The combined total purchase limic for this

issue is $15,000.

HIGHLIGHTS OF THE TWO NEW BONDS

Perrault said “This is an |

ENOW.

THE HERALD, Tuesday, October. 11,.1977, PAGE 3

| Small Bore
Big Bore

TURKEY
SHOOT

RIFLE RANGE RD.

SUNDAY OCT. 16, 1977
‘ TIME - 10 am.

THE TWO NEW BONDS:

a. A. THECOMPOUND INTEREST -
BOND.

This bond re-invests your interest
automatically, earning interest on your
interest after the first year, at the average
annual yield to maturity of the Series.
Interest is payable only when the bunds are
redeemed or at maturity. If left to maturity, a
$100 bond will grow to $200.97 in just §

i : ve Teg PY Mitte
B. THE REGULAR INTEREST
BOND.

This bund pays you a regular annual
income each Nov. |. You have the choice of
receiving your interest either by cheque or by
direct deposit into your chequing or savings
account.

ASECURE INVESTMENT

Both new bonds retain the features that
have helped to make Canada Savings Bonds ‘
the favourite investment for millions of
Canadians. They're a secure investment and
they're instant cash anytime.

ON SALE NOW
New Canada Savings Bonds are now on
sale wherever you bank or invest. Both new
bonds may be purchased for cash and the
Compound Interest Bond may also be °

purchased on the convenient Monthly
Savings Plan. Buy yours today!

S

vo 4!

Ave
Annual Interest
to Maturity

Interest Payments

Compound Interest Bond

Interest is left to ‘accumulate and is
payable only when the bands are
redeemed or at maturity (See Note 1).

Regular Interest Bond

Interest is paid each Nov. | by cheque or,
if you choose at the time of purchase, by
direct deposit into your account.

Method of Purchase

(a) Cash (b) Monthly Savings Plan
(c) Payroll Savings Plan

Cush

accrued in equal monthly arnounts over

the next twelve months Thus compound
interest is ‘first accrued after | year and

1 month have elapsed.

Denominations $100, $300, $500, $1,000, $5,000 $300, $500, $1,000, $5,000
Redemption Cashable anytime at face value plus Cashable anytime at face value plus interest
. earned interest. curned since receipt of last interest payment
(except if redeemed in Sept. or Oct.- ,
See Note 2). =
Exchan eabilit: Exchangeable, without cost, for a . ’ Exchangeable, without cost, for a Compound
8 ¥ Regular Interest Bond of the same Series Interest Bond of the same Series up to ond t
starting at the minimum of $300, including Aug. #1, 1978.
Note 4: Simple interest on the par value ~ Note 2: Owners cashing bonds during Sept.
Is accrued monthly at the relevant and Oct., will receive face value with unearned
annual rate. Compound interest is ’ interest deducted because interest for the
catculated each Nov. | at the average ‘entire year will be paid on Nov. 1.
. annual yleld to maturity of the Series, on . :
ee all interest earned as at Nov. | and is

AGREATCHOICE _

‘COMPOUND INTEREST OR REGULAR INTEREST | . ri