Gi business: SHORT TERM TIME I: Hy y/ - forbid — you are looking for a loan or have to renew a mortgage. Interest rates appear to be in disarray, or disorder. Of greater importance, they are high and possibly moving higher. We touched on the interest _ Thomson, rate trend last week and the situation is so interesting that it merits another review and comments. Furthermore, some of the views of Alex senior financial Local Socreds look to future At their recent. annual general meeting held at the North Shore Winter Club, the North Vancouver/Sey- mour Social Credit Consti- tuency Association heard president Roberta Kelly say “We've faced difficult days since our Government’s decisive victory at the polls a year ago. But with people like yourselves — people with vi- sion and determination — we are on our way to welcoming the best of times. There are exciting Opportunities ahead — opportunities that will provide not only tremendous stimulation to our battered economy, but opportunities that will enable us to face the future with a renewed sense of confidence and purpose.’”’ Jack Davis, MLA acknow- ledged the constituency asso- ciation as ‘“‘the best an the province, possibly the best in the country’’. Also attending were North Van/Capilano MLA Angus Ree, North Vancouver District Aldermen McMinn and Craig Steve TODAY'S CHAELLENGE The Courtyard Suite 210-131 Water Street Clark, District School trus- tees Margie Goodman and Ross Regan, Social Credit Party v.p. Hope Wother- spoon and director, opera- tions, Brian Battison. Jesse Ketchum, vice presi- dent, communications for Expo 86 was guest speaker, and Peeter Linde was named “Constituency Citizen of the’ | : year’? for his dedication to the community. In addition to formulating resolutions to be presented to the Social Credit Party Con- vention to be held in Pentic- ton October 18 to 20, the meeting named the following to it's executive for the com- ing year: Roberta Kelly, president, Mike Gill, vice president, Betty Water, secretary, Ernie Sarsfield, treasurer, and directors Peter Armstrong, Barrie Bate, Katherine Bylin, Ron Erickson, Jim Leslie, Ken Leslie, John Leyland, Bruce MacCormack, Tom Mason, Gordie Phillips, Dianne Pollock, Donna Saxelby, Arlo Sjoberg and Art Tinker. ea . money talks by Bill Ryan his is a particular time to be a prudent shop- per if you have cash to invest or — heaven economist of the Royal Bank, at its head office in Montreal, should be record- ed. (I spoke with him by telephone last ‘week, too late to incorporate his observa- tions in last Sunday’s column.) Thomson confirms: ‘‘All the pressure on Canadian in- terest rates is coming from the U.S.’’ That country has a small pool of savings funds and ‘‘an enormous govern- ment deficit’’, hence an ex- cess demand for funds. (By contrast, Canadians are great savers and while consumer demand is still growing, it is not growing strongly.) The Royal Bank economist warns that high interest rates in the U.S. could dampen their strong economic growth. In the meantime, his advice is that ‘‘investors should be prudent.’’ That, in general terms, means, putting your money in short-term investments. $$$ The only way one can see oy WINDANA Charters used two cranes B3 - Sunday, July 15, 1984 - North Shore News interest rates going down is as a result of a major economic change, Thomson believes, and “‘that is not in sight.’’ Would you believe interest rates that are one or two per- cent higher than they are now — or a bank prime rate of, say, 15 per cent — by the end of this year? Thomson sug- gests it is possible. $$$ Here are some other “‘straws in the wind’’ for investors: Ninety-day Treasury Bills were paying 12.5 per cent in- terest as of writing (Thurs- day, July !2). One-year GIC's (Guaranteed Investment Cer- . tificates) were available at 12% per cent interest. $$$ The gremlins which plague .the publishing business, par-. ticularly in this electronic age, played havoc with last week’s column. By misplac- ing one line of type, they rendered two of our statements meaningless. They should have read: ‘*... the Bank of Canada rate has just risen to 12.76 per cent, an increase from 12.36 per cent, or 40 basis points...’”? And: ‘‘Obviously it (high interest rates) adds up to bad news for those who have mortgages coming up for renewal and for those who have floating loans...’ NEWS photo Chris Cameron to lower their latest creation, a 66 foot boathouse weighing more than 12 tons, into the waters of the Mosquito Creek Marina. 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