Page Ji, The Herald. Friday, September 21, 1979 Rent subsidy said too costly OTTAWA (CP) — The gov- ernment could help the poor and elderly pay their rent for about one-third the total cost of a subsidy plan for homeowners unyelled this week, says a report prepared for the Clark cabinet. Government sources say the report pula a price tag of about $750 million a yearona rent subsidy program for about 500,-000 low-income and senior citizen households where there is a tough scramble each month to meet the rent. That compares with a $2.3- billlon annual price tag on the mortgage interest and hroperty tax subsidy for homeowners announced Monday by Finance Minister John Crosbie. That is the cost at the end of the plan's four-year introduction perlod in 1982. But unlike the Crosbie plan, which would give federal income tax rebates of up to $1,500 even to those who don't need it, the rent subsidy would be almed directly at senior citizens and families in the most difficulty. Generally, that would mean those laying out more than 30 per cent of their income for rent. Sources say some mem- bers of the Clark minority government belleve the rent subsidy Is necessary to head off a major Commons confrontation with op- position parties over the Capital gains tax supported MONTREAL (CP) — A contentious proposal by owners of small-and medium-sized businesses urging the abolition of the capital gains tax will be ap- posed in Vancouver Sunday by leaders of the Canadian Chamber of Commerce at the group's 50th-annual meeting. The leaders fear abolition of the tax could backfire and they would lose a tax break on dividends which has offset the tax. Also, the group is to hear a policy speech by Economic Develapment Minister Robert de Cotret. EARNINGS) Bay Mille Ltd., year ended July 31: 1879, $1,906,727, $5.16 A share; 1978, $385,191, 08 cents. City and District Savings Bank, nine months ended July 31: 1979, $4,138,002, $2.51 a@ share; 1978, $6,715,732, 08 $3.08, Hatlelgh Corp., aix months ended June 301 -1979, $449,000, no share figures; 1978, $1,015,000. Seagram Co. Ltd., year ended July 31: 1978, $168,159,000, $4.79 a share; 1978, $00,564,000, 2.58. DOLLAR . MONTREAL (CP) — U.S. dollar in termes of Canadian funds at 3:30 pm. EDT Thursday was up 11-50 at 31.1879, Pound sterling waa up 2.46 at $2,524. In New York, the Canadian dollar was down 17-100 at $0.8562 and pound sterling wae up 1.70 al $2.1615. Chamber president Sam Hughes said in a recent interview he doesn't know what the speech will cover, but predicted it would be “interesting in light of an impending speech from the throne a couple of weeks from now." Hughes said abolishing the capital gains tax could well boomerang, A tax break on dividends which has offset the tax might be lost and “other things could happen such aa the provinces gatting back into succession duties. “These are potential things that people who are not specialists in taxation don't see," he said. “They can't — and that's what the taxatlon committee Is golng to have to explain.’’ The committee will try in debate Monday to convince the expected 450 voting delegates to drop the abolition proposal and push Instead to have the tax lowered, “It's very tough for a room full of delegates to atep and consider (the taxation com- mittee's) pedantic, professional advice,” he added. “They'll want fo vole with their hearts.” Another emotional debate ia expected on resolutions by the Regina’ and’ Winnipeg chambers of commerce on grain marketing boards. Regina favors the bureau- cratic system of marketing boards while Winnipeg, where the wheat board is headquartered, wants a minimum of bureaucratic control and a maximum of free enterprise, “It's a contentlous issue because it's too emotional — it's not just economic,”’ Hughes said. The lack of any resolution on unemployment insurance ls surprising, he said, but ls prebably due to the govern- ment’'a commitment to review the program. However, resolutions urging the abolition of the right to strike in essential services and opposing the Indexatlon of civil service pensions will be debated, homeowner plan. The Conservatives hold only 135 aeats, seven short of a majority. The Liberals, with 119 seats, have already in- dicated they will vote against the homeowner plan unless something is added ° for renters, and spokesmen for the New Democratic Party, with 28 seats, have demanded a better deal for renters and the most needy homeowners, Key to passage Is the tiny contingent of Social Credit members with six votes. A spokesman for party leader Fabien Roy said he sticks by earlier statements that he generally favors the mor- tgage plan. But details of the Crosbie plan will be studied in depth before o final decision is made, Although the government moved quickly to announce the homeowner mortgage plan to fulfill a major campaign promise, a decision on a rent subsidy or shelter allowance appears some distance away. “Cabinet has asked ‘what is the range of posslbilities,"" a gavernment source said. “They have gald ‘this ls something which we would have to consider over the year,'”’ : A report to cabinet says that a subsidy program for senior citizens alone could be implemented for about $75 million a year. That would be simed at about 100,000 senior citizen houweholds where the rent is above 25 per cent of income. But the Conservatives, who are pledged to eliminate the current $11.3-billion budget deficit by the mid- 19804, are reluctant to spend more money. They felt they had to come through on the mortgage plan or face the wrath of the voters, Nothing was ever promised for renters or the poor. Elmer Mackay, minister responsible for Canada Mortgage and Housing Corporation (CMHC), sald several weeks ago he favored a rent subsidy for low-income senior citlzans and Crosbie has also in- dicated there is a need for such a plan. A number of studies on a shelter subsidy program were carried out under the former Liberal government. These studies formed the basis of a new look at shelter subsidies ordered by the Conservatives during the summer. friends for life The Canadian Red Cross Society 66. RECREATIONAL VEHICLES. w79 25' travel iraller. Alr a@nditioning. Slesps 38. Excellent conditlon. Like new. Phdne 635-4625 (p5-24) f Camperetta. Excellent cond. $600. authnard $300. 1977 Yamaha YZ 005475, Phone 635-7869 ” (p2-245) Cc— 6 Scamper iravel trainer. Excellent conditlon. Eteciric water system. Portable tollet., fridge, awning etc, $1500. Phone 635-3744 or 635-6310 (p3-25s) For Sale: 1973 31‘ Coachman Sh wheel. Open to offers - in ood ‘condition. Lots of ecdras. Write Jack Taylor. Genera! Delivery, lskut, 3% hp Johnson, | 66, RECREATIONAL oo WEHIGLES WIS 6 Security Camper. Excellent cond. Phone 635. INCORPORATE $100 + filing fees We prepare your In-! corporation papars over the phone — fast. For more Information call THE LAW SHOPPE of JACK OD, JAMES, M.B.A., LIB. TOLL FREE 112-800-663-3035 {In. Vancouver area call 687- 2442). Chargex and Mastercharge welcomed, (aifin-Fr-14-9-79) For safe permanent halr; removal, Electolysis by: Jackle, Complimentary: consultation, Phone 615-7983, B.C. VOU 1KO (pa2is) | (e10-268) BUSINESS DIRECTORY PQ. Box 534 TERRACE, B.C. VG 485 Plumbing - Heating - Commercial Serviclag Residential - Industrial - Specializing Gas Fitting and Sheet Matal Shop Charlie Belanger PLUMBING & HEATING LTD, ” ‘Unique Bathroom Boutique’ 4444 LAKELSE AVENUE Install & Service Gas, Wood & Ol Furances PHONE 635-9319 OR 635-9320 - Dry dog & cat food 3315 Clark St. Yellowhead Hay & Grain - Complaie line of livestock feed and supplement - Clean and uillity grain - Founts and feeders for all livestock + Pat traveiling cages made to measure 635-3867 4513 Grelg NOW OPEN ALEX’S BODY SHOP in the old McEwan’s Shop _ (Across from the Skeoua Hotel) 635-2926 WEEKDAYS 8-11 4438 Lakelse EASTSIDE GROCERY & LAUNDROMAT OPEN 7 DAYS A WEEK . To Serve You YOUR FRIEWOLY CONVENIENCE STORE WEEKENDS 9-11 635-2104 400 JOHN Deen & DAVE & ALLAN %& Graoina WITH StH WHEEL oo & BACKFILLING vengreen Contracting TERRACE YW LANO CLeAniNG ‘ Levevina PHONE ANYTIME 635.3505 NORTHWEST PIPE AND EQUIPMENT LTD. PIPE, PLUMBING SUPPLIES, PUMPS. HOSES, NUTS AND BOLTS, FENCING. WATER SOFTENERS AND MORE 5239 Keith Avenue - Near 8 Hydra 635-7158 4623 Lakelse Terrace Electronic Repairs Ltd. SERVING TERRACE & KITIMAT Philips, Magnavox, Zenith Mon.-Sat. —~ 9 a.m. - 6 p.m. Friday — 9 a.m. - 9 p.m. AUTHORIZED SERVICE DEPOT Sanyo, Toshiba 635-434) GLACIER L sf? A 5 © S . ni 4418 Legion Avenue A Complete Glass and Aluminum Service Terrate, B.C.” CARPET & FLOORING INSTALLATION YOU SUPPLY WE INSTALL | JAMES GRAY 4938 McDEEK UALITY * bear teeth Ww wolf teeth FREE TERRACE HOTEL GIFT CERTIFICATES For these items ve moose or deer antlers (single or pair) Avollable at the front desk of the TERRACE HOTEL * bear claws * beaver teath Ready Mix Concrete, Sand, Gravel, Top Soll, Drain Rock, Patlo Blocks, Concrete Gravel, Bags of Cement, Ya Yard Concrete Mixer Avaliable for Rent, WE DELIVER SATURDAYS PHONE 435.3936 F.J.H, READY MIX Construction Ltd. Plant Off Krumm Road ; Thornhill ™ abel S213 KALUAM STREET TERRACE, 8.C. Danny's Hace HOME BRUNSWICK PRODUCTS. PHONE 635.2473 see STOCKS: L TORONTO (CP) — The Toronto stock market was sharply higher at the close of active trading Thursday. The TSE 300 index climbed 15.17 to 1,737.04, Analyste said the advance was attribuled to heavy trading in gold issues and speculations about oii finds. Volume was 8.80 million compared with 7.47 million Wednesday. Among industrials, Gulf Canada was up 7 to $140'4, Falconbridge Nickel A 3 to $70, General Motors 2% $74, Bay Mills 2 to $20 and Kaiser Resources 1% to $824, MICC Investments fell 34 to $1214, Steel Co, of Canada A % to 929, Jannock Lid. % To $13, Canadian Pacific % to $304 and Eastern ace Alrways ‘4 to M%, . McIntyre Minea rose 6% to $464, Dorie Mines 2 to §55% and Sigma Mines Quebec 1 to $3344. Teck Corp B % was down to $104 and Rio Algo % to $31, Amalgamated Bonanza Pete galned 214 to 27, Pan- Canadian 1 to §62% and Canadian Superior Oil 1'¢ to $16)'4. National Pete dropped six cents to §1.1L and Canadian Natural Resources V4 to $844. VANCOUVER (CP) — Prices were mixed in heavy trading Thuraday on the Vancouver Stock Exchange. Volume at close was 5,263,607 shares. Of shares traded, 163 ad- vanced, 148 declined and 162 were unchanged. In the induatrlals, B.C. Re- sources Investment Corp. was up .30 at $8 on 160,804 shares and Proflex Ltd. was unchanged at .12 on 10,000. Great Natlonal Land was up 10 at $1.40 on 8,200 shares and Woodward Stores A was unchanged at §25 on 4,000. Canadian Javelin was down 05 af $1.20 and Potler Dintiers A was unchanged at $1.70. On the resource and development board, Aclion Resource Warrants was un .07 at 53 on $4,600 shares ana Action Resources waa up .13 at $2.48 on 88,333. Tournigan Minlng wae up .18 at $1.08 on 64,000 shares and Copper Giant wan up .42 at $1.40 on 71,900. Comaplex Resources was up .70 at $5.60 ands STARBOARD \ TACK YACHTS 21’ to 30° Sailboats & Accessories 635-3001 == Ken Hansen SAN JUAN bat pISCO Stone... t Ne STORE THAT HAS Eta iin" [635-3596 Regeane Kk fon WOUR... fart 6 006% Ae eye arial r (ised VAN'S CONTRACTING Furalture Ropair 2. Restorations, Hope Chests >| Custom Made Furniture, Refinishing ~~? General Building Contracting Terrace e AN ORTHERIN | deLhGHTS CO-OP 3224 Kalum Street, Terrace Natural Foods — Books — Local Crafts Wayside Groceries 4711-G Keith Ave. Your friendly convenience store HOURS: 7:30 am - 12:30 am € &W Enterprises MUSIC FOR ALL OCCASIONS Groundslar Resources was kau down .06 at $1.01, Qn the curb exchange, Brican Resources was up .30 at $1.60 on 236,200 shares and Santa Sarita Mining was up 23 at $1.60 on 70,200. Nor-. thern Lights wasup Ll at .45 on 60,000 shares and Veronex Resources was down .03 at - 84 on 53,900, Gavex Gold Mines was up .06 at .40 and West Trend Resources was up .11 at $1.98. 3212 KALUM PHOWE 635-6357 2701 South Kalum St. 635-6180 Weekdays ANYONE CAN SHOP AT DELIGHTS... . ONLY MEMBERS GET DISCOUNTS weerends 10:00 am - 11:00 pm Bere sanaate” ERNIE 425-438) > nn t ‘ h Sail i NOW OPEN A mooth Sailing an | . . to the M C & H Industrial Cleaning Herald! i 4 Ltd. R 0 “WE TRAVEL .— YOUR HOURS" y } Steam Cleaning and Pressure Washing A T Phone 638-1634 or 635-3545 | een eee Call us at 635-6357 - 9te5 | a ee ery ely eotdyescren, wo Payee ag GN! eam a ager oats Bee Sa er ee