fee B.C. news BA =, ae MARKETS HIT HARD Interest rates climb, lumber sales fall AS INTEREST rates begin climbing again, sales of B.C. lumber, already hit by the effects of the recession, are beginning to fall again. The ‘situdfion is made doubly gloomy as last year’s predictions that continuing economic improvement in the U.S., to which B.C. exports about 70 per cent of its lumber, aren’t panning out. Instead, the trend to higher interest rates in the U.S. is cutting deeply into the housing market there and slowing the demand for lumber. The same interest rate pressure is being felt in Canada, with recent in- creases in the Bank of Canada’s prime lending rate in an effort to check the fall of the Canadian dollar on No licence if fine not paid THE PROVINCIAL § gov- ernment has introduced legislation that will stop those who have unpaid fines, from being issued a drivers licence. _ The legisfation, introduced in the Legislature this week, would allow the superintendent of motor vehicles to refuse to issue a drivers licence to anyone who had an unpaid fine. Offenses covered by the legislation include those under the Motor Vehicles Act, the Motor Carners Act, several sections of the fed- eral Criminal Code = and several other provincial acts governing transportation. The legislation was in- troduced because of the twin concerns of the increasing number of unpaid fines and concerns that licences are going to those who, by refusing to pay fines or ig- noring them, are showing responsibility that could carry over to driving. The legislation is the latest in a_senes of provincial government initiatives aimed at drivers in B.C. that make iw tougher to get or keep a licence in the face of breaches of provincial motor vehicle laws Sales agreement for Mainland Mag ANTE PORNOGRAPELYS groups who want lower Mainland magazine dastit bullion companies FO stop distributing queshhonable hhatersal will have a new target for thei displeasure Proominent Lowes Mainland Vetminy businessman Pattison has an nounced that oa tentative agréement to sell Mainland Magasine too oanother Van eouver firm has been teas hed Pattison anteounmeccd planes to selh the business after he was criticized during Peases Coommisstorn heatings an Vancouver for owning the company owhie hh distebutes WANTED allegedly pornogtraphia magazines along wath such titles as Crood Housekeeping and Homes and Gardens Purchaser of the business iS Vandella lIovestments of Vancouver, run by bred Vanstone, who was comp troller for the Jam Pattison group of companies until he fe ft to start his own COP any While neiher Pattison ce been Vanstone have avanlabbe too comment on the sale a spokestran fer Marnland Mapasines tars sand that Nanstone shares Pattison so comecras over the Uastribution: cf porreagr agelrt theatcrbal world money markets. In the U.S., the prime rate has hit 12 per cent. This week, two economists with the Chicago-based American National Bank predicted that rate will stand at 13.5 per cent by the end of the year and will hit 16 per cent next year. Increases im mortgage in- terest rates and falling in- terest in purchasing new homes has already led to a deline of between 15 and 25 per cent in lumber prices in the Lower Mainland. Major lumber sales com- panies are reporting sales have fallen by as much as 30 per cent in recent weeks. Even the falling lumber prices will have only a minor effect on the poor market as builders and consumers, struggling to recover from the recession, can’t afford lumber or are unwilling to make major purchases in the face of market uncertainty. AIS - Wednesday, May 16, 1984 - North Shore News British Columbia Performers’ Showcase Sponsored by The Pacific National Exhibition AUDITIONS June 16 and June 17, 1984 Garden Auditorium, PN_E. Amateur, professional, young or old... anyone with talent is welcome to audition for the Greater Vancouver Competition in the B.C. Performers’ Showcase. Winner of this local contest joins regional winners from through- out B.C. in the Festival finals, September 1st at the PN.E. outdoor mainstage. Winner receives grand prize of $1,500. Entry form available at PN_E. Administration Building or from CBC reception desk, 700 Hamilton Street. Entry closing is June 11th— remember anyone can enter be WANS Pacific National Exhibition PO. Box 69020, Vancouver, B.C. V5K 4W3 Phone 253-2311 : 16400 16129 06603 Solids, Semis, Acrylics ALL OUR BEST STAINS 125 st Regular to 22,98/4L. SALE 4b * 02109 EXTERIOR LATEX ~ SWIVEL ROCKER HOUSE PAINT = Hen 29° 9 sate LOL e “Complete with Cushion ReyniberPrice $259,458 each SALE ©. eu, SALE DATES: MAY 14TH . JUNE 41TH, 1984 MEN'S STYLIST FOR OUR PARK ROYAL SHOP GREAT CLIENTELE & CONDITIONS CALL RICK 922-9612 OR KEN 420-4666 NORTH PARK MEN'S HAIR 1629 Lonsdale Ave... N. Van 985-0823 Cloverdale PAINT N’ PAPER