NORTH SHORE
[OWNED AND

October 25, 1987 News 985-2131 Cl

MANAGED |

assified 986-6222

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it’s time to ‘fali back’

DID you turn your clocks back this morning? Hf you didn't,you
should. Daylight Savings Time ended at 2 a.m. this morning. All
clocks should be turned back one hour.

Distribution 986-1337 56 pages 25¢

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NEWS photo Neil Lucente

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HAROLD. JENSEN reaps a bountiful harvest from his West Vancouver backyard. This Indian corn is 2 regular crop for late October but many hobby gardeners across the North

Shore are finding the recent warm, dry weather te

WORLD STOCK market upheavals will likely not mean
trouble for small businessmen and investors on the North
Shore, say focal business leaders and politicians, who
reacted to the recent market events with cautious optimism

‘Friday.

“Tf this is simply the correction
in the stock market that has been
predicted...there probably won't
be any effects on local business,"
said North Vancouver Chamber of
Commerce. president Graham
Reid. .

Plagued by selling binges and
temporary rallies, stock markets
around the world —_ including
those in Vancouver and Toronto
— rose ’then fell repeatedly last
week as investors scrambled ‘io

By STEPHEN BARRINGTON

News Reporter

‘
abandon sinking stock or snatch
up bargain deals. But at close of
trading Friday, the market was
relatively stable.

“On the tocal level 1} think it'll
have very litte impact,"’ said
North Shore resident Rod: Clark, a
stock broker with the firm of
Walwyn Stodgell Cochran Murray

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Lid.

“Small business is effectively in-
sulaied from this,’ said Clark.
“*(But) anyone who is an investor
is in for a rough ride — they knew
that going in.’ .

Cautioned Reid: ‘‘As long as
consumer confidence is maintained
and we don't slip into a recession it
should'be all right. If this is a start
of a recession or a depression; that
could be very different.”

For burgeoning North Shore
companies planning to go public,
the unstable market means they
Wil have to wait until things settle
down. :

“What it (the market upheaval)
has done is shake consumer con-
fidence,’’ said Clark. *‘A new issue

ormally finished by this time of year.

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(of shares) coming to the market is
probably looking at a delay.”

But with the recent stock market
upheaval, smaller investors are
starting to abandon stocks for a
return to the more traditionai
guaranteed investments.

“Since Monday (when markets
experienced record drops) we've
seen a Jot of people coming +o us
for (onger-term) investments,”
said National Trust Lonsdale
branch manager Bob Beaver.

In dollar volume, Beaver’s
branch has seen a threefold in-
crease in the longer-term invest-
ments of up to five years, an in-
crease he attributes to the unstable
stock market,

“People are switching away

Business leaders downpla y local effects of market upheavals

from the stock market, the mutual
fund investments,’’ Beaver * said.
“They are unsure of what's going
to happen.’’

A reduction Thursday of 1.5
percentage points in the Bank of
Canada’s influential bank rate to
prop up the market sparked a wide
drop in interest rates, a move that
could reap an unexpected bounty
for smali business.

“For anyone looking to borrow
to expand, the lower interest rates
are a boon to them," Beaver said.

West Vancouver-Howe Sound
MLA John Reynolds, noting a
sound economy, thinks it is too
early to predict possible repercus-
sions of the market upheaval,