me ys P- . “ent Corp. “and: Finnitig : Tractor, : Equipment Co. Lid.,.two ag Tose ee "companies hard-hit by the -Tecespion,,say. a “reports thetthey face Hnanclal depth Ave, a eg greatly ale - mp oe _ : ” current year.’ \ ; ne sumse is thal Finaing ib in a'blg” ' finaricial bind,”. said: company: ‘president. pending recelverabip: oe . “How cana company go bankrupt when. if it has not-recoreded a loss?” he asked 60... : "security | analysts and ‘fund: ‘managers '‘atleiding the annual. woatern’ investment, i _ | ,eminar . sponsored by. Pemberton i. = Securities Ltd. in Vancouver lest week. Unless there was. a total. economic “eollapee dn the province the balance sheet - of the Caterpillar equipment distributor 4 Sy Vinod. Sood, referring to rumpra, of m= © : ver tag”? B.C, ARLIMENT BGs a publicly. as Dron ‘8 own problem, president,’ wala” the: propesty: "group's "problem was. that’'d general. ‘economic: ‘situation: it. Baw coming last August —- “If ‘the company had been wrong: at ‘that: time in ‘its. agseasment . of rising: interest The two. largest costs is tacing the ‘com i “were wages ahd: interest, a0 they wu ere the focus of the cuts. “os os ‘Finhinga’ workforces has been cut to 1,575 ae “>. Rates “we were headed for “destruction,” pald Levine. But. because of early action” the company ‘was able to cut its casts so ‘Tong fuse or a short fuse.” Finning, dependent on the forestry, . eothat it. a0 longer had” ry balance-sheet “ ; ‘problem... . Along ‘an the economy does not worsen, voles _ Daon‘will be profitable‘and end.the year « .: ‘with about the same level of liquidity — $40 ae Million to $60 million, he said. - =): -- .Y “Are we going to survive?" he said. Ty. - this econpmy every company has:q time - "fuse on it — the question is whether it's'a from34 during the last 12 months and its. a a ahort-term - -debt reduced to $130 million" oan from’ $800 ‘mnilllon through a-reduction in’ -. ~aegalory and | a convertible debentura At that level of debt interest costs were almost: matched by Income from its. $140. ‘million ‘portfolio ‘of canditional . sales contracts and equipment Jeases, Sood said, While gales: are depreased; revenue is re - ‘coming from spare parts and service - business, Daen, unlike Finnie, had most of its vag fiat half of. this year to more than #00 : m the 000 Y comdestntun. wmilts lietd U.S, and Canaila ‘last August, the alow Is down to 3,500 and is expected ‘down to 2,000 by the end of the year. addition the group sold several’ in- ; to bring total real estate sales in jhe “million, But. problems . remain, he said. Chief -- among ‘those are’ Daon's land hdldings | +> which It has been unable to sell as lots, in - bulk or joint venture. About 80 per cent of the jand bank is held with borrowed funds. © - However, Levine said Daon is being run . *ffielently as it'would by a receiver. _ Monday, Monday, June 2.1982 21, 1982 would remain along, Sood sald, yherald = 25 cents Established 1908 LONDON (AP). — .With "ts cents Established 1908 Volume 76 z V8 © Prince Charles at her side, . Diana entered St. Mary's Hospital today “in the early stages of labor," Buckingham Palace an- — said enjoy outdoor scenery Beside a cool babbling brook n near Highway 16 West. - ™§ nounced. ; oa A brief announcement _ said Diana was admitted to the hospital between 5 a.m. and 6 a.m. (midnight and 1 ‘-am, EDT). |. ~ Apalace spokesman later said it might be ‘‘many hours” before there. was further newa of her progress - -in Jabor but’ he said there . was no cause: for concern, adding: ‘The Princess: of _ Wales is: in. the: best of - “health. w t “Tt was not! known whether Prince Charles: will bé in the | ‘year-old hele to the British ~ throne was said to have - " wanted to attend the birth. The 20-year-old Diana, expecting the couple’s first ‘baby, was.admitted to the same hospital in London's Paddington ‘district, -where Princess Anne, her sister- in-law, had - her children. Press ‘reporta had said - Diana wanted to. have her. baby in a hospital while the _ Queen preferred Buckingham Palace for the Charles returned to Kensington Palace, the couple's London home, on Sunday afternoon from - France, where he had at-_ tended a - memorial - ceremony for a British parachute. regiment of ~ which is colonel-in-chief, The prince cancelled a planned polo match Sunday _ J... afternoon and went straight_. to Kensington Palace. : The Daily Express said Charles ‘made'a helicopter’ ” dash across the English Channel from France in 90 | minutes to be.'certain-of-° . being at his wife’ 3 bedside. Diana. was. driven to. London ‘ Sunday . from Highgrove, the. couple’s mansion, 180 Kilometres ‘southwest of the capital, to, be nearer her gynecologist, Dr. George’ Pinker, The Express sald. . ; Diana. said earller in the year that her doctor had. . given her a due date of July. i, her. birthday. A Pree Whether the baby is a boy : or girl, it will be second {n, British ‘throne, : after” . girl would-be pushed down -. the line if she. later had a” brother. 1905 and ‘will be in line to’ becomé the first -traly . English monarch In _cen- turies. a ‘ bride of an heir to the throne 4 jGelivery” réom, but the 3st." ° rs : monarchy This has already happened among ‘the. Queen's ‘ ‘own two the line of succession to the. ; Charles. But a: first-born: -™ Diana’s baby will be. the: first child: born to a Prince || "ahd Princess of Wales since) Diatia is the first English ° at hospital “for neva occasion | since 1650, when Lady Anne Diana is descended from Hyde, daughter of the Earl four Kings and has several of Clarendofi, married the distant relatives in commas future James Il. with Charles. Royal males ‘put on heirs LONDON (AP) — Whatever the sex, the ‘baby of Prince. Charles and Diaria Princess of Wales will be second in line’ - to the British throne, displacing a ecore of members of the ‘royal family in the line of succeasion. . But things might change if Charles and Diana have other ‘children. 'If their first is a boy, he vill follow Charles in line ‘to the - throne. If it's a girl, she will succeed to the throne Ginky if the, couple Jas no Bon. : 2 -Thegirl will be displaced in lin line Bs. sodn as a son n is born. The old rule. ‘pe Teve ! ee ee ee children. Charled, her first child born in'is48, became heir- "- apparent when his mother succeeded to the throne in 1962. His sisfer Anne followed him in 1950 and was second in the . ‘line of succession. The princess dropped to. third when her _brother Andrew was born in 1960, then to fourth when Edward ¢ame along in 1964. ° The Queen herself. was never belr-appareat, but helr- . presumptive. As the eldest of the two. daughters of King George Vi: Elizabeth could have been ousted from her -the line: of succeasion if her parents-had produced atbn.. wil. The rules of descent date from the English Act of Set-: tlement of 1701, passed by Parliament when King Wiliam: Hl reigned alone and childless after the death of his wife, : . Mary, with whom ‘he had shared the throne, —- Next in line to William was his sister-In-law,; who became: Queen’ Anne when William died in 1702. Prererary Anne had 17 children by her husband, Prince George of o : Denmark, and all except one died in infancy. The single: . survivor, Prince William, Duke of Gloucester, died at age: . i. "Parliament acted to prevent the accession of any: Roman Catholic children of. William's predecessor, ‘James : H, whose autecraticrule and pro-Catholic policies ina country: "that had been anti-Catholic for 150 years, upset the nation; and forced him to flee to France... ‘The. legislators awarded the throne to Princess Soph ‘a granddaughter of King James I who had married inte the: ’ Hanoverian monarchy — and the “heirs of her body,’": m stipulating that no Catholic could ever come to the throne.; - Sophia never became queen but the terms of the act came: into play.in England again only four years ago.. arecreeree Prince Michael,.a cousin of the Queen and thei 16th in: ‘succession, had to renounce ‘any claim to’ the throne when’ he married a _Catholic, .Baroness Marle ‘Christine von: Reibnitz, in 1978. --All the children of Prince Charles: take precedence in the : , ” guecessicn, so. everyone in the present ‘line after Charles : “@rops down one place “whenever . a “child ix: born to him and! : Diana. _ The present ‘succession list-1s 22 names long, tcom Prince Charles to James and Marina Ogilvy, children of Princess Alexandra, the. Queen/s cousin.. Asked why the Hat stops there, a Buckingham Palace ; spokesman sald: “There {8 no official cut-off point; but it is. . “not realistic to take it any further. You have e Got to Grave the line somewhere." ‘4 “INSIDE “Falkland, Lebanon wars Page. 3 Classifieds’ Comics, horoscope Page 8 wrod WHY BUY NEW? : = wy WHEN USEDWILL DO! .": Do you want partstofix up your car but your budget ‘won't allow It? Beat the high cost of new parts with _ wallty used parts from - 5S. K.B, AUTO. SALVAGE. _635- 2333 or 635-9095! mL 3490 Duhan’ tlostol Hwy. 16 €) “Local & world sports Pages 485° | - _ Pages 687. .