~ -Simpsone --Ltd., |

| a.meeting duly 21

TORONTO SP)
Hudson's Bay Co. and
two of
Canada’s tisior department:
atores! Have agreed in
petncipe to ) herge the two

oe ed: merger, an-
may: ly*by the. two
age a Wednesday, will

be subject to approval -by.
ers of Si simpsons at

: The plan contemplates the
amalgamation of Simpsons:
with Bayhud Inc, a newly
Incorporated subsidiary’ of,
Het hay aca
' Au son's ay acqu
‘control . Bimpse cquyed

winter ‘ater a eakybver

ee to | merge

battle with Simp

-Lid., subsidiary ,of | cs
Chicago-based Séart-

gO~
buck Co.
‘G. Ailan Burton, chairman
of Simpsons, "anid the
continue to

com will
ate under the mm a
aie in , holders

of the 11:7 per cent ‘ol Sim

sons shares not already
owned by Hudson's Bay will
receive either one ordinary

share of Hudson's Bay, or .

$25.40 in cash, or one
preferred share for each

elght shares of Simpsons. °

The preferred share will be
redeemed immediately after
the merger for 10 cents cash.

Bank moves west.

> CALGARY (CP) — The

Bank of Montreal announced -

plans Wednesday to locate
ts. chairman here and to
pulld a: $180 million office
and commercial b

° Chairman Fred H. McNeil
iotd & news conference the
bank's decisions reflect ‘‘the

increasing importance of

Western Canada in the

’ natlon’s economy | and will

strengthen ‘the bank’s
traditional ties: with
Alberta.”

Bank of Montreal becomes
the first major. Canadian
bank ‘in modern times to
have a chairman or

dent In a city other than
crouto or Montreal.
resident and chief
snocut ve officer, W.D.
Mulholland, is at head office
In Montreal, while the
executive vice-president and
chief general manager, S.M.
‘Davison, is based [n Toronto,
MeNeil said construction

a ‘First Canadian Centre .
would start here. later this

year and be completed In
ses over a period of up to
ve Years,

With its twin pollshed-
granite towers. — one 67
stories high and the tallest
building weet of Toronto —
connected by a glass banking
pavilion, the: project will
feoan more than one mil.

square feet of rentable

ree ound act aga key link in

e city’s pedestrian walk-
Way system, -

MeNell also indicated that
the bank plans to nd its

. corporate * banking
division here ‘will be

in Calgary In 1078,. will. be
elevated to group status and
vested with d coneretionaty
autharlty to deal with ‘the
growing volume of loeal and
regional business.

The earlier part of Me-

Nei]’s business career waa -

spent In the West..He has
ved in all four western
provinces.

"Ina very real sense,” he

- LABOR SAYS
NO TO CANDU

. OTTAWA (CP) — haye restricted basic |
labor movement is for: freedoms within their
ming a united front to try own borders.”
‘to stop the shipment of The exact nature of the
heavy water to Argentina protest is still being
for oa Candu. nuclear - worked out, but the stated
reactor. aim Is to. stop the heavy
“Don. Nicholson,

. water shipment, Heavy
“president of the’ 40,000. - water, which contalns an
member Canadian

extra hydrogen atom, is
Brotherhood of Railway, the last major component .
Transport and General necessary for operation of
Workers, sald Wednesday the Caridu- reactor Ar:
he has asked members of . gentina has purchased
his unton in New Bruns:
wick ta. endorse and

eine pate dn the the protest

salt Jona net District
Labor Counell,

“Our union is opposed
ta any action by Canada
whith could lead to the
Proliferation of nuclear

- weaponry,’’ Nicholson
.sald inf a statement of’
support for the protest.
“We are shocked by the
actions of our govern-
ment in- delivering
nuclear equipment oy
countries. with =
’ democratic “governments

from Atomic Energy of
Canada Ltd.

Opponents of the sale
say Canada has not
received an adequate
- assurance that the nu-
clear equipment will only
be used for peaceful
purposes.

Mike Rygus, Canadian
vicepresident of the In-
ternational Association of ~
Machinists
Aerospace Workers, says
the production of Candu
equipment means jobs for
many of his memberé,

Nicholson said

and

who. have records Argentina has a bad—
aggressiveness againet record of : trampling on
their neighbors and who civil liberties.

sed in Calgary,

sald, tipeaetical: as well as

sentimental, my relocation
here is a home-coming."

EARNINGS

 Contral Dynamics Led,
year ended March 31: 1079,
Be a
78, , $1,198,-490,., Josg,,, no
share figure. mh

Renn Indusirtes Inc., six
months ended April 90: 1979,
$55,000, 3.5 cents a share;

-3878, $235,000, Toes, 14.9

cents,

DIVIDENDS

. are temporary and workers

. watchdog agency said in:

ea
largely, iz “to foou price

prophecy,”

‘The Herald, Thursday, June 28, 1979, Page 8

_ Profits: said temporary —

- OTTAWA (cP) —
big’ increases in corporate
profits and consumer prices

- Current. "Wages have been falling
' behind the rate of inflation in
the last year as the thres-
year wage-and-price-contral
program of the’ Liberal
government ended,

Latest figures from
Statistics Canada show the
average weekly wage in

should not seek wage. set:
tlements lo match them, the
National Commission on ~
Inflation sald Wednesday.
The federal inflatlon”

creases in the consumer
price index (CPD --
«per-cent hie

per-cent higher than a year
earlier,

the current rate of inflation
has been un ey tem-.

rary ce. increases
paused by such things as
weather and harveatrelated
shortages and a peak in the
beef price. cy

it aid the alton rate in
non-food goods.
In the consumer: ries index
— cove pant thre: three-

artera opper pure
thases — had been cut by a
third in three years,

“Food price Increase can
and will moderate with
Improved sup lies,’ the
commiasion sa

r ago

increases that appear cer:
taln to moderate, :

And it said thal a recent
surge in corporate profits —
which Jumped §8 per cent in
the first three months of this
year over the same period in’
1976 — “will not be main-
talned.”’

“The danger is that long-
lasting price and wage
decisions may be made on
the mistaken premise that
current levels of CPI and
profits will persist,” the
newsletter quotes comimis-

sion chairman Harold

Renouf as saying. ‘As for profits, the: com-
"IE this happens — if in- misslon said strong growth.

flated costs and prices get in exports had hell

built into the economy —
then, an erroneous ex-
pectation of higher Inflation
could turn intoa eelffultiling

businesses could put idle
equipment to work thus low-
ering costs on each unit of
production. Moderate wage

: Bayo costs this year are
April at about $283, about 8.4-

But the commission said -

~ have no moti
‘additional .,

up seles. which meant .

ol] as the U.S,

BUSINESS DIRECTORY -

increases had also held down tlements.
costa

“The recetit level] of profit
advances will not be
maintained,’ the com-
mission said. ‘Slower
growth in prices, a slowing in In
export. markets and fas!

closely wage negotiations in
the West Coast forest In-
dustry where contracts via
47,00) workers expire this
month.
Tecoma la
lores
dustry had made windfall
fs in: the lest ‘year
use of a decline in the
value of the. dollar, Since
most wood products sold
abroad are priced in U.S.
dollars, indusiry profits,
recorded in Canadian
dollars, rose dramatically,

\ growth" the rate of
Pine commission, created
in March by the former
Liberal government as the
fifth inflation monitorin
10 years, sal

pea, to there are signs of an
Increase in wage set-

No money left over

to advertise gasoline

OTTAWA (CP) — Federal They said a special
government

advertising
- campaign Is needed to
"Americans there {s lots af

at fhe pumps and no

“We don't have. the
unencumbered budget to do
that," said Thomas Fiet-
cher, assistant deputy
minister for tourism.

“We've finished our main

ads gelling
American tourists there Is
plenty of gasolina in this

country.
Tourist operators in On-
tario, whe coun on summer
for a flow. of U.S. visitors,
complained this week -that
Americans are staying home
because they mistakeni
believe Canada in aa short
the summer,"

VAN’S CONTRACTING

Furniture Repair

Mision Mat Hope Chasts
| » ustom Made Furniture

 =«-635-5585 |
2610 Kalum St.

(Refinishing

Terrace

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

WE DELIVER SATURDAYS
PHONE 635-1936
F.J.H. READY MIX |
, Gonstruction Utd,

Plant Off Krumm Road
Thornhill

OPENING FRIDAY!
June 29th

Wayside Groceries
4711-G Keith Ave.

HOURS:
6:00 a.m. + 12 midnight

Weekdays
9:00 a.m. - 12-midnight

Weekends

For Insights

inte insurance
Family Protection
Mortgage Insurance
Business Insurance

srincome replacement ... : aA F th eu

~Registered ' "Retirement * piaiisinel of “PLUMBING at HEATING LTD...

Bri fi mito. * “Unique Bathroom Boutlque” ;

rian ontgomery 444 LAKELSE AVENUE
R 1 <
tpresente Ive 635-3346 | 29,0 fon UA. P.O. BoxS34 PHONE 435-9319
’ Business ; MonuaA_ife Business OLD LANES LC RO “fit £0066 TERRACE, B.C. VaG 4B5 OR 635.9320
615-9296 The Manufacturers Lite InsuranceCompiay 435-9236, WATCH FOR our COLUMN * ‘ASK KOBE' Instell & Service Gas, Wood & Ol Furnaces

"Plumbing - Heating - Commerciat Servicing
Residential . Industrial - Speclatizing Gas Fitilng
and Sheel Metal Shep

_ Charlie Belanger

Corporate dividends
Wednesday, quarterly unless
otherwise noted

Fraser Cos, Ltd, class A,
25 cents, or stock in Heu of
cash; class B, 28 cents, or.
atock in lieu of cash; both
pevatie Sept. 33, record

MeDonalds Corp,, 14 centa,
US, funds, Aug. 18, record

Sonor Investments Lid.,

-eight per cent pid, 20 cents,

semi-annual, Sept, 16, rec
Aug, 31.

Whonnock Industries Li,
class A, 12 cents, Aue il,
record Aug. @.

‘DOLLAR

MONTREAL (CP) — U.S,
dollar in terms of Canadian
funds at 3:30 p.m, EDT
Wednesday was up 23-100 at.
$1.1689, Pound sterling was
up 2.04 at $2.5295,

In New York, the Canadian
dollar was down 17-100 at
$0,8591, and pound aterling

. Was up 2.10 at $2,1655.

STOCKS

TORONTO (CP) — The
Toronto stock market was up
sharply at the close of active
trading Wednesday,

The TSE 300 index was u
13,02 to 1,612.90, a rec

The rise reflected strength
In transportation, mining
and energy stocks.

Volume was 6.06 million
compared with 6.01 maililon
Tuesday.
Among industrials,
Falconbridge Nickel A

gained 2% to $4834, Noranda ©

Mines 2 to $524, Home OLA
1% to $68'%, Ivaco A 1% to
$18% and Cominco 1 to Hil.

MTS Internatlonal lost
four cents to 65 cents,
Harvey Woods 10 cents to
$1.60, Canadian Cellulose %4
to $10%4 and Grafton Group A
Vy to $15%.

McIntyre Mines rose 1% to
$59'4, United Keno Hill 1 to
$15% and Roman Corp. % to

1. United Siseoe fell % to
10% and Anglo United
Developments % ta §5.

- PanCanadian Pete was up
% to $60, Numac Oi] and Gas
% to $38% and Sulpetro B %
to $14%. Canadian Superior
Olt was down 4% to. §141%
an Sceptre Resources 34 to

Mh. .

VANCOUVER (CP) —

Prices were mixed in active
trading Wednesday on the

Vancouver Stock Exchange
with a volume of 4,249,370
shares at close.

In the industrials, Canada

Cement Lafarge wos un-
changed at $13 on 10,000

‘shares and Daon Develop.

ment was unchanged at $17
1-2 on 6,700. Renn Indusiries
waa unchanged at $1 on 5,580

‘and Goldale Investment-A

was up 1-4 at $6 1-4 on 3,750,
Balco Industries was up 7-8
at $15 1-4 and Hal Roach
Studios was up .10 at $3.60.

Liberty Petroleums was
wp a at $2.60 on 120,600
shares on the resource and
development board, while

Caledonia Resources was -

unchanged at $1.30 on
104,000, Consolidated Bound-
ary Exploration was iting
.64 on 83,698 and NRD

was down .03 at ie a on
56,200. Piper Petroleums
was up .15 at $5.90 and Terra
Mining and Exploration was
unchanged at §4.50.

On the curb exchange,
Oliver Resources Was un-
changed ‘at .35 on 300,800
shares and Poney Ex.
plorations was up .01 at $1.20
on 300,420, Nomad Minea was
down one-half cent at .17 1-2

on 167,-000 and Jet-Star —

Resources was up .06 at $1.57
oh 60,700. Monogram
Develop: ment was — Uf-
changed at $1.65 and Phoenix

Electric was unchanged at

EASTSIDE

GROCERY & LAUNDROMAT

“OPEN
7 DAYS A WEEK

To Serve You

WEEMDAYS. 8-11 WEEKENDS 9-11

Terrace Electronic Repairs Ltd,
SERVING TERRACE & KITIMAT .

AUTHORIZED
tL) SERVICE
DEFOT
e Philips, Magnavox, Zentih
e Sanyo, Toshiba

EDAR

Custom finishing - Renovations - Additions

John Black
3124 McCornelt
Terrace, B.C, = *

S A Complete Glass and
Aluminum Service

4436 Lakalse / -BS5-2104 Rigen vem? oe CEDAR SPACIALISTS r
YOUR FRIENDLY CONVENIENCE STORE 4621 Lakelse B1-4543 Box 649 636-4656 Terrace, 8.0.
JOGK’S EXCAVATING LTD. GLACIER oO & A JaniTOR SERVICE
Ervavate sns903 . L of) 4418 Logion Avenue
Koavator vgs!

A Tye Terrace, B.C. ug cleaning by hol water extraction
Backhoe M.F.60 6 Pil 2 rooms & hallway -$70 - most houses

 & FREE ESTIMATES.

635-6622 4732 Halliwell

Smooth Sailing |
to the

3212 KALUM

|
PHONE 635-6357

dine Cleaners Ltd.

“"" FOR THE BEST IN
SUEDE AND LEATHER
CLEANING
2 LOCATIONS
4404 Legion Avenue and Mini Mall
(Next fo Mr. Mikes}

635-2838

SMALL APPLIANCES - LAWN MOWERS. '
RENOVATING: BICYCLES. &TC.

Handyman Unlimited |

3941 Mountalnview
Tarrace, B.C,

Call BILE or DALE
630-0277 oF 435-3967 .

Pro-Tech Electronics Engineering
SERVING TERRACE & KITIMAT

We Service All Commercial & Home Entertainment
Appliances Including Microwave
Warranty Depot
‘Sanyo Soundasign, Kenweed, Admirat’

Morse Electrophonic
Hammond Certilied Technician

3308 KALUM’ 635-5134

MAR COUX offices, Custom
finishing &
remodelling

homes, Fireplaces

& General Carpentry

635-2359

6-3716 Mountainview Ave,, Terrace :

RESIDENTIAL Cx? HOT WATER
. ONS SE SERVICE

2+ 4717 WALSH AVE,
TERRACE, 8.¢C,

PHONE 638-1468

Call us at 635-6357 9 te 5

Il
+

It sald it va vatcng

advertising In the U.8. for

eer ce

a