A8 - Sunday, August 29 1982 - North Shore News

ALREADY OUT OF RECEIVERSHIP

Self help may rescue '

FINANCIAL TROUBLES of
the North Shore Winter Club
may be solved within two
years following a special
mem! ip meeting last
Monday to select an interim
plan for servicing the club's
expired $2.8 million mor-

. The club was forced to
default on the 10.75 per cent
mortgage when it came due
June 1. Three weeks later
the mortgagee, North Shore
Credit Union, placed the
club in receivership.

The credit union sub-
sequently decided, however,
to give the club a chance to
organize new financing and
removed the receiver in mid-
July.

Monday's special meeting,
attended by more than 700
of the club’s 1,050 members,
is reported to have given
“overwhelming” support to a
22-month pian offering a

‘FREE ESTIMATES

choice of three alternative
monthly dues structures.

For the plan to succeed,
90 per cent of the mem-
bership must agree to
participate by September 3.

The options offered all
require significant increases
in the financial involvement
of individual members -
ranging from the purchase of
additional debentures or a
two-year interest-free
deposit of $3,000 to smaller
cash payments combined

with dues increases of 15 to
35 per cent.

A spokesman for the
board of directors said the

meeting produced a
“positive mood among
members” and provided

encouragement that a long
term plan for refinancing
could be worked out during
the 22-month period.

Club manager Elsie Welsh
told The News the response
from members had been
“most enthusiastic,” with at

N.Van not Radio City

NORTH Vancouver City
council has broadcast a clear
message of non-support for
proponents of a new radio
Station in the Lower
Mainland.

Ocean Pacific
casting is trying

Broad-
to get

SEAMLESS
AVESTROUGH
CRAFTSMEN

Lots of companies can offer heavy gauge, high quality materials
like us. The difference is in the installation! We've been installing
eaves for years and spend the time
troublefree guaranteed eavestrough system. WE offer 5 VEAR
WORKMANSHIP and 20 YEAR MATERIAL GUARANTEES.

SUNSHINE SYSTEMS
984-8152

. ’ >

support from
Mainland groups for its
application for an AM radio
licence and has sent a form
letter to various community
groups — such as City
council — asking for support
before the CRTC.

THE

to ensure a -

Lower /

(Now Appeanng The Dae Han Sisters)

SUNDAY
| CHAMPAGNE BRUNCH

NO KE SERKUA TIONS,

least 400 members expected
to have signed up for the
plan by this weekend.

“We feel confident that
members are going to make
it work,” she said.

The family recreation
facility at 1325 East Keith
Road, North Vancouver,
was founded in 1958 for
curling, ice hockey and
swimming. An expansion

Salmon Heritage
Chicken © ordon Bleu
Veal Matson

PLUS...
N Coreat Naghitelab Show an PLAZA «|
Mondays throughs | hursclays

NOW ADPIPEARKING, KILLARNEY:
OR
Wotmantie PXaneciny on DADDY LONG, LEGS
bradays and Saturdays

» $10.75

a ib aet 6 Pyar ag acmegn ye
ns

POAC Ctr

Al

INTERNATIONAL
PLAZA HOTEL

Commer oat Niatine Eriee ated © spabanion eae

© FORTWO
A SUPER EVENING OUT!

Including a
Complete G,ourmet Dinner

in the HERITAGE ROOM

Choice ot

North Vane ouver
bor Reservations, 9840611

program, which called for
refinancing in 1979, added
indoor tennis, racquetball
and a health club to the
facility.

The Winter Club has been
the home base of several
outstanding amateur
athletes,

the women’s world cham-
pion in 1973, and the world

THE PATIO SHOPS
super summer sale
continues!

SPECIALISTS IN OUTDOOR FURNISHINGS

1575 Marine Drive,

West Vancouver V7V 1H9

925-1101

THE PATIO SHOPS

2082 West 41st Avenue,
Vancouver V6M 1Y8

‘lub

champion women's curling

rink skips by Lindsay
Sparkes in 1979.

NSWC also has produced
several outstanding hockey
players and teams, including
Curt Fraser of Vancouver
Canucks of the National
Hockey League. The club's
Juvenile ‘A’ team won the
Canadian championship this
year.

261-4116

Bh