Page A2 ~ . Terrace Standard, Wednesday, Ape 10, 1991
Mill sale efforts continue

TERRACE — A Prince Rupert
: sawmill in receivership hopes to .
. Make money by exporting logs.
“The sale of 4,000 cubic metres
- of wood to a Japanese customer
should, help ‘Wedeene River
; ‘Contracting meet expenses and
could provide some money to
pay ‘down'a debt of more than
$15 million, says Colin Rogers
of the court-appointed receiver
accounting firm of Peat, Mar-
- wick‘and Thorne,

‘The’ mill, owned “by the
‘Williams family, went into
receivership last fall when. it
couldn’ 't. meet debt payments.

But the’amount from the ex-
-port sale that could go to help

~ pay” down the debt won't come
near: what's needed, said
‘Rogers. “

“We'd need a 1 lot of money.
We have generated quite a lot of
income of $3 million or so (since
last fall) but that’s gone to
operating costs, wages, etc.,”’
said Rogers.

That income has:come from
selling logs on the Vancouver
log export market. There's been
no milling at Wedeene since late

Wood deal
to count

By RUTH COOPER
Three Rivers Report
HAZELTON -~ Council here
wants the B.C. Supreme Court
to overturn the awarding in
1988 of a timber licence north
‘of here to a group of Fort St,
James and Prince George logg-

ing companies.

Local and Smithers mills had
also applied for the wood in the
Sustut-Takla area.

A. provincial Ombudsman’s
report, done at the request of
Hazelton council, found that
then-forests minister Dave
Parker. overruled the recom-

nftiidhdor? toF.ftitprovinees:

chief forester.

Hazelton, mayor Alice
Maitland estimated the legal
costs of asking for the judicial
review will cost $5,000. The
Kitimat-Stikine regional district
spent $2,000 in getting a legal
opinion as to whether a review
could be successful.

Line
going in

TERRACE The B.C.
Utilities Commission last week
approved B.C. Hydro’s plans to
build a second power transmis-
sion line between Terrace and
Kitimat.

The 63-kilometre,
287-kilovolt line is to be built by
1994 at a cost of around $28
million.

The power company says it
needs the second line so it can
buy. and transfer to the provin-
cial power grid up to 400
megawatts of surplus hydroelec-
tric power from Alcan'’s
Kemano completion project.

‘The line is to be built down
the. east side of the Kitimat
valley, along side the existing
power line right-of-way. An
earlier plan to build the tine on a
new route down the west side of
the valley was abandoned
earlier this year.

B.C,. Hydro officials said
they decided to twin the existing
line in the wake of public con-
cern about loss of fish habitat
and reduced logging access if it
was built on the west side,

Initial fieldwork is to begin
this spring...Clearing is slated
for 1992, with construction tak-
ing place i in 1993 and 1994.

Correction
TERRACE —.A March 27
story°in. The Terrace Standard
about. Bell: Pole’s plans to cut
smoke: emisélons. ‘from its local
sila” ‘burner: indieated the com-'

pany.: decided: ‘against ‘burying
fn a land because
of

logs for income —

last year.

The direct export sale follows
a "provincial order-in-council:
that permits Wedeene to sell up -
to 20,000 cubic metres of wood
offshore a year.

Rogers said more export sales
are: under: consideration and
that efforts to sell the mill con-
tinue. .
| “We're. talking io. several
potential. purchasers out there.
In the event the creditors don’t
find them acceptable “we're -
reviewing operations for this
year,’” he said.

‘We believe we're at low.
point in ihe economic cycle.
There’s not a lot- happening
right now,”’ Rogers added.

‘A sale of the mill probably
won't provide enough money to
pay all the money owed to
secured creditors. and won't
leave any money for unsecured
ones, he said. ;

“'Welve been telling
unsecured creditors the equity
has been eroded. The value of
the ‘assets doesn’t equal the
liabilities,” said Rogers.

Leading the list of secured
creditors is the Canadian Im-
perial Bank of Commerce which
is owed $8.5 million, Following
behind is the federally-owned
Federal Business Development
Bank at $4.5 million and the

provincially-o% W if C
umbia :Deyelopment: Cotpor
tion at’ $1.1° million, ‘The

also. owes the: province: nearly °

$1.2 million: in: back. -stumpage
fees os.
Wedéene opened ‘in 1988 as

‘the only sawmilling. Facllity on

the north coast,

it's equipment enabled it to
only process logs under 30 in-
ches. in. diameter. Wedeene
didn’t have enough of that size

af wood under direct licence
- and so had to purchase it from

other companies,

The company depended. on:

exporting logs over. 30 inchés in
diameter to buy the smaller logs
it needed and to provide money
to eventually install equipment

needed to process those larger

logs. ~
But that export permit was
cancelled in .1990° and

Wedeene’s debts began to
mount.

The company was unsuc-
cessful last fall in persuading
the provincial government. to
allow it to “export ‘again.

~ Receivership soon followed, -.

When permission to export
came again late last year, the
provincial government said the
move would enable: Wedeene to

reduce its debt and find an equi- ,

ty partner.

Bachelor of Arts In e

LIBERAL STUDIES

"TERRACE — ‘The investigation

_ safety inspectors,

Malaspina College, on beautiful Vancouver Island, is now

accepting applications for admission to the third year of the

Bachelor of Arts in Liberal Studies degree . program,

commencing September, 1991, This degree is offered by the

University” of Victoria, and taught exclusively at Malaapina
ES.

This new program fs an innovative alternative to traditional,
specialized university undergraduate studies. It prepares
@ graduates for a wide variety of careers and provides a rich, -

+ Untegratedvand. challenging program of general education. .
Students are part ofa learning community, taught by a | team of
inatructors in small seminars, tutorials and kectures.

For full details write Multi-Diseiptinary Studies Department,
Malaspina College, 900 Fifth Street, Nanaimo, B .C. V8R 585

orcall collect —
(604) 755-8757

YOUR L

Roadside screening devices are in the hands
of police officers across the province. These

_ “devices are being used to detect’ drinking
drivers,’ to measure their levels of i impai

. Ment, and to get them off British Columbia i's
. toads‘ BEFORE they kill or injure someone,
- Because... .

WE ARE our 10 stop DRINKING DRIVERS

- PAGE 9: The illustration of the Carry Casa
-. | for the ‘Nintendo’ Game System, and not

continues this week into an
April 4’ airplane crash. which’.

north of Smithers, .:: :
-The DC-3, owned by Centra

had been reported missing while -
enroute. back’ from. the Cheni
gold: mine ‘in the Toodoggone ©
area 300km” to. the ‘north: of

Smithers.: wae

- It was found in’ ithe late afters’
noon of ‘April: 4: at* Thutade -
Lake, 250km north of Smithers,’
following a ‘search of the light. :
The! lone. ‘survivor, “Tunnel.
and Rock Workers Union Local:

168 president John Norton, suf-:: |

fered multiple fractures; He was

: flown to hospital i in ‘Vancouver: °
-, Dead: are’ plane: captain’

Robert: ‘Neil Higgins, 42;- first:
officer Dennis Ouston, 43 and>.
flight attendant Katherine Col-::.

" Tins, 34. Ail are from Smithers.

Also dead are Peter Petersen,
59, of Calgary, Robert McCon-
nel, 43, of Richmond and Anne ;
Bauer, °39, of 108 Mile House.:

Central’ Mountain. Airlines
officials refused to speculate on
the cause of the crash, saying it °
is under investigation by federal

McConnel was..an official |
with the. International
Operating Engineers Local 115.
_dnformation for this supplied

by The Interior. News, Smithers.

, ar
“CORRECTION

In this week's. ‘BIG BUYS’ flyer,
the iMustration of the carry case
sold on page 9, is incorrect. The
‘carry casa sold at 17.99 is for
the
System, and not as shown.

nee

___ Kan Canada Limited

Sess
CORRECTION

Ing ecrors. have occurred.

PAGE 5: the Illustrations of the Ball
“Glovas have been transpos
Glove sold at $32.97, should be the it-
lustration A and the 13” Glove sold at
$49.97 should be.iliustration B.

“PAGE 6: Tha Wicker items, pos, A-G, the

| Cocktail and End Tables and the Spiece 7

‘Dinatte Set will not be avaiable In this
area.

is Incorrect. Tha Case sold at $17.99, is
‘as shown.
Cameras have been transposed. The 110°

Fully Automatic Camera with bonus film is
$60.97...

taay hae
lt Cn te

killed six people and jinjuredone |.

Mountain’ Airlines of Smithers;-* a, .

(at

arnst mE
WORKSHOP _ .

Friday, April 19 &
” saturday April. 20,, 1991.

‘Reaeen RECREATION C CENTRE
i. NASS VALLEY vo

rest industries

‘fon-Natives:

HEAR about opportunities In the Tourist and “ : a
LEARN about Joint Ventures betwaen Natives, “
‘ATTEN ID workshop on tax advantages for volt .

Wilf Adam, Lake Babine Band. ?

“Phone! 633-2234 _

Honourable: Bud Smith, Q. Cc.
Minister *

: REGISTRATION -
»(Niega’a. Tribal Counc!

The Ministry of Regional Economic Development

Fax! 639-2367

é
ot

‘Nintendo’ Entertainment]

iWes apologize xfor: anys ‘Inconve: 2 BAL
‘this tay Have; Caste, oe

‘In this weel's ‘BIG BUYS’ tier, the follow... J

ed. The 12” |.

‘The prices of the Concord 110& cam tof
Telelocus Is $14.97,-and tha ‘Gam HID’ f.

a api t my envi ts _
Caused,»

The British Columbia
Round Table on the ~
_ Environment and the
‘Economy needs
ee your liélp te create a

PUBLIC FORUM

Protecting the environment... . /}
Developing the economy... _/4

Can we do both?

-. submissions on an salated

at

interested grou and
‘individuals are invited to make

rire gither by writing to the.
‘address below, or ata public: :.

uc provincial strategy for." forum scheduled for this- area: ; >
: ‘Sustainable deve ment.; Pre-registration is requesied
.. 4. but not required; andthe  ~
* public Is welcome to attand. ©
_ Smithers . | Wednesday April 24
’ Hudson Bay Lodge . '. .” 2:00-6:00 pm Open House .
9251 Hy 16 _ . » ¥:00-17:00 pm Public Forum -..
“Thuraday April 25
10:00 am -

ublic Forum cont'd

Prince Rupert .
The Highliner Inn -
. Bt 15 First Ave West «

~ 2:00-5:00
. 7:00 +11:0
- 2%) ‘Thursda
“e /10:00 am - Public Forum contd

Wednesday J June 5
n House
ublic Forum ..
sday June 6

British Columbia Round Table.”
= On the Environment and the Economy --:«

Suita 229-560 Johnson Street
Victoria; B.C. V8Ww 3Cé

. 1-800-665-7002 ~

cies eee amen

~"" “@ No calorie counting . ae
a Neva leet pans

Our Comprohensie Weight Loss”
Program Will’. Help Over’ ONE
MILLION Clients This Year. " In
_ Oludes: .

© Safe and affective we loss
© Nutritional: supervision “