’ favour.

Two construction sector
components — the number
of residential building
permits issued and the real

value of ‘total building»

‘permits — were estimated to
have registered. above-
average declines during the
first quarter of 1979, ac-
cording to the preliminary
report of the: Royal Bank
‘Trendicator’ for the quarter.

.. “The weak performance.
of building permits supports
our -previous - observation
‘that construction will not be.
an area of strength in the
months ahead,” said Dr.
R.W. Baguley, .senior

conomist with the Royal

‘Bank.

The declines were enough
to. offset above-average .
increases recorded for the
deflated value of the money

A unanimous decision in
of Placer
Development __Limited’s
Endako mine has been
handed down by a three-man
panel of the B.C. Labour
Relations Board’ following
hearings on a charge that the
company used
strikebreakers. The charge
involved the company’s use
‘of Pathfinder Lines Inc., a
trucking firm which brought
supplies into the mine and
hauled molybdenum away.

This is the second charge
brought unsuccessfully by
the Canadian Association of
Industrial, Mechanical and
Allied Workers (CAIMAW)
which has been on strike at
the large molybdenum mine
since February 14.

The carlicr charge, on
similar grounds, was against
Securiguard Services Ltd.
and was similarly dismissed
by the Labour Relations

SJOBS NOW
$ INDEPENDENCE
$ FREEDOM

We caii it
“TEMPORARY”
work, but for you It
means a.FLEXIBLE

WORK SCHEDULE to

sult your lifestyle.

REGISTER
TODAY

684-7177

46, May 23, 1979 - North Shore News

ROYAL BANK TRENDICATOR-

supply (M2) and the Toronto

Stock Exchange “300”
composite index.

As a result, ‘Trendicator’

registered an estimated

decline at an annual rate of
1.4 per cent during the first
quarter, the calculations

being based on partial data.

The dip follows three

‘consecutive gains in the

preceding quarters. The
index now stands at 104.07
— slightly lower than its
upward-revised value

- of 104.41, established in the

final quarter of last year.

‘Trendicator’ is a com-

posite index of. 11 leading ~

indicators which presages
the. direction of economic
activity in Canada from six
to nine months in advance.

During the strike the
company has continued to
produce and ship at about
one-third of
capacity. Molybdenum is in
short supply, and buyers
have willingly paid spot

normal

Dr. Steven Chow, Royal
Bank economist, said that
complete data were
available for only six of the .
11 components of ‘Tren-
dicator for the first quarter
“and the current estimate
shaquid be viewed as ten-
tative.”

In addition to the two
building permits com-
ponents that declined,
below-average. drops were
recorded for the Toronto
Stock Exchange price-
earnings ratio, urban
housing starts and the

a

eaker charge vs.
ismissed

prices of about three times
the customary producer
price.

There have been
numerous incidents of in-

POR EH NON ae
ans

Say sesh

Ener econ
aa ak

ROYAL BANK TRENDICATOR

A Composite Index of Leading Indicators
. _, 1952 to Date

deflated value of the
liabilities of business failures
(inverted) and estimated for
the average length of the -

workweek in the

manufacturing sector.

- On the plus side, five
components advanced. In
addition to the increases in
the TSE “300” index and the
money supply,
average increase was
recorded for primary steel
production and _ estimated
for real corporate profits and
the ratio of price to unit
labor costs.

‘timidation and destruction
of property during the strike.
As a result, charges have
been brought by the RCMP
against a number of
CAIMAW members.

a below- .

‘L

UF

our reguiar loan interest rate —

May2to26

call for
abatt’s

Personal loan sale