Al4- The Terrace Standard, Wednesday, April 28, 1999 TERRACE STANDARD. THE MAN who held out the promise of a pulp and paper mill between Terrace and Kitimat, providing hundreds of jobs, has died. : Hugh Cooper, once the president and chief execu- live officer of Orenda Forest Products, died April 6, 1999 at Lions Gale Hospital~ in North Vancouver, age 76 years. oe Cooper founded Orenda in the mid-1980s and was granted one of three licences to log decadent wood in the Stewart-Meziadin area. The poor quality of the wood did offer some pos- sibilities and Cooper began casting around for the right processing fit Several ideas were dis- carded until Cooper came across Tampella, a Finnish firm, which developed a way to grind pulpwood un- der pressure and 50 create fibres for paper. On a subsequent trip to Europe, Cooper discovered a paper making method called MFC, short for ma- chine finish, coated paper. Out & About Dip in room revenues THE NORTH experienced drops in accommodation room revenue in the fourth quarter of last year. All regions _—reported declincs compared to a gen- eral increase in the south. In the North Coast arca of Prince Rupert, Terrace and Kitimat, revenue was listed at $1,642 million in Dec. 1997 and $1.456 million in Dec. 1998, wernn All told ithe percentage drop worked out to 4.7 per cent, compared to a growth of 2.2 per cent in the Jower mainland and 14.9 per cent on Vancouver Island. Statistics indicate the north has been hit harder by the economic down turn be- cause accommodation out- lets depend more on the resident B.C. traveller than their counterparts. in the south, Real estate prices down THE AVERAGE selling price of a single family home in Terrace was down sharply in the first three months of the year. Just 35 units were sold through MLS listings to March 31, with the average price of $130,787, That’s down about 11 per ceat from the average price of $147,833 for the 128 units sold here in the last three: months af 1998. Prices also dropped in other northwest com- munities. Kitimat houses sold in the period averaged $126,777 — down from $136,226 in the previous three months, And Prince Rupert home sales dropped in price from an average $127,121 to $108,250. Smithers, however, saw house prices actually rise, from $134,244 to $136,891. Average prices in Terrace have historically fluctuated considerably. Local real eslate board rep Lisa Godlinski said average house prices have come down from a peak in Octo- ber 1996 of nearly $160,000. *T think they’re. stabiliz- ing now,’’ Godlinski said, She noted house prices in Terrace fiterally doubled from 1987 to 1994 and con- “T said here’s a niche- market and’ nobody was making it bul the Finns,” said Cooper in an interview in the early 1990s, Cooper took the concept and developed into a $500 million plan to build his mill near Meziadin, north of Kitwanga on Hwy37. That location subsequently changed to south of Lakelse Lake and Orenda began the provincial environmental approval process. Although Orenda_ did reach a deal with Finnish concerns to have the Finnish government guarantee a portion of the equipment purchase, the company failed to put together its major financing, The provincial govern- meni tumed down a request to provide a $100 million loan guarantee and declined a subsequent offer for a $100 million buy-in. By 1996 and without . securing financing, Orenda became a target of a New York-based syndicate which wanted to ship Orenda’s wood south to: re-open a closed pulp and paper mill at Gold River on Vancouver Island. Repap (now Skeena Cel- julose), the dominant forestry player in the north- west, protested the plan. It was buying Orenda woad and said it needed the supp- 999 Grail Am SE R7Z/ 1999 Century A7Z equipped ag dogertbad, A down p! Hugh Cooper ly for itself. The syndicate plan failed, opening the door for Repap to take over Orenda, which it did in 1996, Cooper’s project. . Born in Manitoba in 1923 and a lawyer by training, Cooper spent the 1950s and 1960s developing a specialty practice. of rescu- ing companics from bankruptcy or from finan- cial difficulty. ending His next accomplishment took a young Investors Syndicate from $200 mil- lion in assets ta $5.3 billion in 12 years, Cooper moved to Van- couver to retire after Power Corporation, @ Jatge castern Canadian firm, bought out Investors Syndicate. But retirement ended when Premier Bill Bennett asked him in the late 1970s to find a solution to a sur- plus of wood chips from in- terior sawmills. Cooper's solution was Fibreco, a company made up of interior sawmills which found overseas customers for the chips. He then went back into retirement but that time of touring the province setting up Fibreco aroused his curiosity in value-added wood products. In 1992, Cooper was awarded a Canada 125 medal, Please welcome your neighbourhood canvassers when they knock on your door. Do lt For A Friend Only 35% of worthy cancer projects can be funded. Help raise the percentage! CANADIAN | SOCIETE CANCER CANADIENNE SOCETY DUCANTER BRITISH COLUMBIA AND YUKON DIVISION Construction season starts slow THE FIRST three months of the year ended with construction far below recent levels, The City of Terrace issued $431,500 worth of building permits in March, raising the year-to-date total to $608,340. But that Windows & Doors Sale f= Come in and order your <= windows and doors now and save with our — Special Pricing. Sale ends May 17, 1999. (Orders will arrive June 17, 1999} figure is well below the $1.1 million and $5.7 million of construction approved to the same points in 1998 and 1997, respectively, March perils included two house starts and a number of small commercial renova- tions. ® Terrace Co-op Home Centre 2912 Molitor St., Terrace 635-9595 Toll Free 1-800-848-6347 — co-0P This fun to drive.Coupe.is: Bultt For Driversinn tins conan * 2.2lltre enginé.¢, 5-speed manual transmission .acusiiis Wy cee es * 4wheel ABS » PASSLOCK™ Theft deterrent system * Next Generation dual airbags »* Rear spoiler: SMAATLEASE far 38 mons, ‘Lease rata up to 36 months Or © pureh, Prie ' Down 1 payment $1,933 Purchase Financing ana BOK : @ includes freight Sacurity Daposit $300 Up to 48 monins. . LEASE OR PUACHASE Injected with lots of good ideas...and a healthy dose of adrenaline, your reliable driving excitement comes complete with: ¢ 2.4 litre engine ¢ 4-speed automatic transmission with enhanced traction control * PASSLOCK"™ Theft deterrent system * 4-wheel ABS * Battery run-down protection system * 15” wheels : : \/powmas - Swaatbease for 36 monihs. Dawn OA $3,963 Securty| OSH $300 Purchase Financing Uplo 48 months. Purthace Price Ln freight and PD Setting new standards for luxury and value makes this Century a mid-size sedan that’s Just a little ahea of it’s time. : * 3.4 litre V6 engine * 4-speed electronic automatic transmission with overdrive * enhanced traction control * 4.wheel ABS ® air conditioning * stereo cassette ® Tilt-Whee!™ steering and crulse control » Power doors, windews and mirrors (@®) 1999 century by Buick A "PURCHASE PRICE oe an at Purchase Finaneiag Up to 48 monihs. SmaarLease for 36 months. Down "pa ent $3,529 Secunty bepost 3350 ONLY AT YOUR BC PONTIAC BUICK GMC DEALER. Wa'd like you to know more: For vehicle selaction or Ihe location of the nearest dealer call 1-800-GM-DRIVE or visit our websile at www.gmcaonada.com, * Based on 6 36. manth lease for 1989 Sunfire Coupe AZZ £ mant or trade of S1,933/83,363 / $3,829 and o security deposi of $300 / $300 / $350 Is required. Toto! obligation 1B 58.701 tinued to increase for a few y : years to 1996's peak. £891,931 7 $13,897, Ancual kidomelcr linit 20,000km, 50.12 per excoas kilometer, Other lesse options available, “Fralght included, License, insurance, alt condilloning excisa tax ond taxes nol included. Dealer may > . stll or leaga for less. ¢ Financing on approved GMAC cradit ovly, Example $10,000 at 1.9% APR, tha fmonthiy payment Ig $216.51 for 48 months, Cost of borrowing fs $392.48. Tola! obligation is $10,392.48, Down Now, she estimates, prices Doyrnth Wade one! or Securit sepesit may be required, Monthly payment pod cost of borrowing will vary dapanding on amount borrowed and down payment / rode. OAC, AFinonciag on approved GMAC credit : ollly. Example $10,000 at 4.9% APA, the monthly payment fs $228.24 for 48 months, Cost of borrowing [s $1,032.32. Total cbligation Is $1 1.082,32, Dawn paymont, trade and er security depasit may be required. are probably back to ap- Monthly payment and cost of borrowing will vary depending on amount borrowed and down payment / treda. OAC, ®t aOHers apply to 1999 new or domonsiratar models of veblelos equipped as described and : % apply to qualified rata customers In B.C. only, Dealer order of trade may bo necesnary. Umiled time offers which may not be combined wilh other offers. Soe your dealers) for conditiona and dotails, proximately what they were in 1994, Sales remain stagnant in McEwan GM in Terrace 635-4941 D5a93 higher priced homes, she noted, lowerlng the average selling prices, - a ey tad?