TRIBUNE DRIVE 54,000 To Fight! Countdown: 3 weeks and $22,500 to raise Our drive rebounded back on course last week after a slight set- back the week before. Nearly $4,000 came in, but we’ll need more than that this week and for the following two weeks if we are going to raise the $22,500 that we still need. Many thanks to John and Elsie Rutka who shared their 25th an- Niversary with the Tribune at a very successful party in Coquitlam last Saturday that netted over $500 for the Tribune drive. The Rutka’s put Coquitlam club over the top, the first club to make its target in the Fraser Valley regions. They join Vernon, Pen- ticton, Notch Hill, Creston, Sointula and Vancouver East as clubs in the race for drive honors. But with only three weeks to go there are a lot of clubs not yet to their targets. And, of course, most clubs must surpass their target by 15 percent if we are going to reach $54,000. This weekend is the last big event scheduled: the Burke Mountain Folk Festival in Coquitlam.. There is still time to organize some: €vents before June 24 to help your club over the top. Thank You for $31,404 . Tickets On Sale Now! Join Us At The Tribune’s | WICTORY BANQUET Saturday, June 24, tga. 30: penser Renfrew Community Centre - 2929 East 22 Ave., Van. @ Program, entertainment, dance from 9 p.m. with Bargain At Half The Price. & Adm. $7.50; Pensioners $6 yy, Enhanced corporate power for banks loom in new Act The Communist Party has con- demned the federal government’s new Bank Act and has called for its defeat in Parliament. If adopted, the CP central execu- tive warned in a statement May 23, it will open the door to foreign penetration of Canada’s banking industry and it will grant the banks - greater control over the country. The CP also called on the NDP to filibuster in Parliament, if necessary, to stop the passage of the Act. The main feature of the Bank Act is to allow foreign interests for the first time into the field of banking in Canada. The Act is ‘‘ostensibly to stimulate competition, but in fact to strengthen the domination of finance capital over the coun- try,” the CP said. The banks are welcoming the new Act, the CP says, which bears out the party’s contention that the law would be changed to favor the banks following the white paper on banking introduced in 1975. At that time the CP said in an executive statement: “‘the real: aim of the white paper is to strengthen, consolidate and centralize finance capital’s control over the economy. Even the proposal to open up Canada’s to foreign banks is geared to wider aims, to strengthen finance capital and its export of capital abroad.” Among the new rules for banks contained in the Bank Act amend- ments, introduced into Parliament May 18, is one that will allow foreign banks to set up shop in Canada and build assets to a total of 15 per cent of Canada’s char- tered banks. By December 1977 figures,.- that . would. amount . to about $7 billion. While increasing the flow of money available to Canadian industry, the move will also increase foreign, and es- pecially U.S., profits in Canada and will enhance U.S. domination over the Canadian economy. ‘The new Act will provide greater powers for banks, in particular allowing banks to own mortgage companies and to own other subsidiary companies. The Act will make it easier for new banks to be established and it reduces the amount of ‘‘reserve funds”? banks must keep by $1 billion. In addition, the large finance companies and trust companies have had restric- tions eased, paving the way for them to become fullfledged banks. “The Toronto Star complains that the proposed new Bank Act is a sellout to foreign interests,” the CP. pointed out. “This is true enough. But it is not only a sellout to foreign interests. It is a sellout to corporate power in Canada as well.” The Act “will not serve the in- _terests of Canada,”’ stated the CP. “Tt will not ensure economic policies of steady, planned growth of the economy, rising standards and full employment. It will not strengthen Canadian inde- pendence. “Tt isn’t more banks that Canada needs but Canadian control over them _ through democratic control and nationalization and the utilization of the banking system to build Canada and create jobs for all who need it.” The Bank Act should not be viewed as an election ploy, the statement warned. ‘‘The govern- ment, like the Conservative Party, is committed to strengthen cor- porate power in Canada, even if it means undermining Canada’s independence and sovereignty. — “Coming on top of the Report on Corporate Concentration made public only a few days ago, it shows that prime minister Trudeau and his government are moving heaven and earth on the eve of an election to demonstrate to the banks ‘and corporate power generally that the Trudeau government can be relied upon to defend their interests.” Calling for public outcry against the Act, the CP said that the NDP should filibuster, if necessary, to prevent passage of the Act. ‘‘The NDP allowed itself to be taken in when it voted for the Alcan Pipe- line deal on the assumption that it would create thousands upon thousands of jobs, an assumption which proved to be illusory,” it said. “Let them not repeat the same mistake with fespect to the Bank Act. An effective and united fight.back by all democratic forces can defeat the proposed new Bank Act as well as the report on cor- porate concentration.” . What Canada really needs, the CP statement added, “‘is the election of Communists as a part of a progressive majority in parlia- ment, pledged to curb the power of the corporations who stand in the way of Canada’s real inde- pendence, its sovereignty and social progress for the people.” Gas users face hike Continued from pg. 1 increase four or five years from now. Meanwhile, however, Westcoast will be the beneficiary of an in- creased cash flow of $64.5 million, giving it considerably expanded investment opportunities and also enhancing its profit picture. In addition to the direct increase consumers will face, further in- direct taxes may be imposed in future to make up for losses to the B.C. Petroleum Corporation — another result of the NEB decision. According to official NEB estimates, the B.C. Petroleum Corporation — which buys gas from wellhead producers, sells it for transport to Westcoast — will be out of pocket some $44.8 million. The energy board evidently dis- regarded the opposition that was voiced at the time of Westcoast’s initial application. The B.C. Petroleum Corporation, Cominco, B.C. Hydro, several trade unions and the Communist Party protested the company’s bid to change its tax accounting system. CLASSIFIED ADVERTISING COMING EVENTS Nee a THE COMPLETE | _ TRAVEL SERVICE / We will professionally look after all your travel needs. We specialize in tickets, tours, passports, permits and reservations. Call us today — for prompt personalized service. VE SS : GLOBE TOURS. 2679 E. Hastings St., Vancouver, B.C. 253-1221 JUNE 3 — Saturday, June 3 ‘Ride the Rails with Rankin’, celebrate Harry Rankin’s birthday in dirty thirties style. $30 prize for. best depression costume! Russian Hall, 600 Campbell Ave., Doors open 6:30 p.m. supper 7 p.m., dance from 9 p.m. Admission: $4. — $3 OAP and unemployed. Tickets at Co-op Books, Tribune Office or 874-4806. Spons. by: COPE and the B.C. Youth Festival Cttee. JUNE 4 — The final FRC Concert of the spring season takes place Sunday, June 4th, 7 p.m. at the Russian People’s Home, 600 Campbell Ave. Spons. by the Federation of Russian Canadians. : JUNE 4 — Social evening among friends at Vernon and Monique Brown’s, 12127-95A Ave., Surrey at 7:30 PM. Professional singer, good snacks and refreshments. 9:30 PM a 50 minute GDR film of the revival of fascism in West Germany. Admission $4.00. All welcome. Proceeds to the Press Drive. et JUNE 4 — 2nd Annual Burke Mountain Labor Festival, Sunday, June 4, 1 p.m. on. Family outing, continuous program of music, en- tertainment, Salmon Barbecue, refreshments. Directions: From Vancouver, east on Lougheed Hwy., to Coast Meridian, north to Victoria Dr., east to 3717 Victoria Dr. JUNE 10 — Come and enjoy a Smorgasbord dinner with the Kingsway Club at the Bird’s, 2535 Carolina. Dinner served from 5- 7. Refreshments and music. Adm. $4 adults, $2 children. All proceeds to the Pacific Tribune Fund Drive. JUNE 10 — Garage Sale — Saturday, June 10th, 10 a.m.-6 - p.m. at 1035 E. 29th St., North Vancouver. Proceeds to the Pacific Tribune Fund Drive. JUNE 11— AUUC invites everyone to “PERFORMANCE 78” — 8 p.m. at 805 E. Pender. Adm. $2.00 — Children 75c. JUNE 18 — Sunday, June 18, 11 a.m.- ? Support the Youth Festival. Come and watch. an exciting volleyball tournament and enjoy a barbecue dinner and social at the Ukrainian Hall, 805 E. Pender St. Dinner $2.50. All proceeds to the B.C. Youth Festival Committee. Spons. by BiC_Y. Car: BUSINESS PERSONALS MOVING? CLEANUP — Wanted articles for resale. All proceeds to P.T. Phone 526-5226. “THE GOODIE BIN.” SEE ALEX THE BARBER at 611 Smithe St. on Saturdays and help the Tribune Press Drive. READERS IN BURNABY AREA wishing to assist in the Tribune financial drive — donations, banquet tickets, ph. 526-5226, FOR SALE FINISHED SOLID OAK garden and patio tubs, 15” deep and 24” wide $15.00. All proceeds to PT. Phone 936-7308 afternoons. ‘HALLS FOR RENT WEBSTER’S CORNERS HALL — Available for banquets, meetings, etc. For rates: Ozzie, 325-4171 or 685-5836. RUSSIAN PEOPLE’S HOME — Available for rentals. For reservations phone 254-3430. UKRAINIAN CANADIAN CULTURAL CENTRE — 805 East Pender St., Vancouver... Available for banquets, wed- dings, meetings. Ph. 254-3436.