Page B4, August 29, 1979 ~North Shore News

ing
pays.

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Call'980-0511

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|" MAINSTEAM CANADA

card on Canadian ban

By W. ROGER WORTH

Some of Canada’s small
and medium-sized business -
people believe they are
being discriminated against
by the chartered banks, and
they don’t like it one bit.

That statement is backed

by the results of a recent
survey of 55,000 me

- the Canadian Federation of

Independent Business. More |
than 16,000 owner-operators
of small and medium-sized
firms replied, providing a

realistic sample of how
entrepreneurs across. the
country feel about their
bankers. ;

The resuits of the in-depth
study indicate:

report

*Newer small and
medium-sized firms are not
receiving the quality of
sérvice from bankers._ en-
joyed by éntrepreneurs who
have been in business for

longer periods of time.
About 75% of the
operators of -firms in

business more than. 10 years,

bank managers understand
the nature of their en-.

-terprises, vs only 65% for

those running their own
show for less than four years.

Further, an amazing. 33%
of the mature businesses
surveyed had never been
visited by their bank
managers, vs a low, low 45%
of newer firms.

Best six months

Westcoast Transmission
reported recently a net
income of $24,381,000 in the
first six months of 1979, a 10
percent increase over
corresponding earnings of
$22,090,000 a year ago. It
was the best half year ever
recorded by the company.

Earnings per common
share, after provision for
preferred share dividends, .
increased by approximately
eight percent, from 60 cents
to $5 cents.

Operating revenue was up
18.8 percent to
$504,808,000, largely the
result of an increase in gas
sales volumes and higher
average gas sales prices.

The board of directors
declared a dividend of 20

 offera

TYPING -
EVENING

BOOKKEEPING

oy
Seg medite t tome ge et

~_ EVENING.”
Monday

cents per common -share,
payable September 28, 1979,
to shareholders of record
September 7, 1979.

OFFICE PE

RSONNEL
we %

Maureen S tirling, Sylvia Gowans |

PERMANENT—TEMPORARY
oda OFFICE _

ASSISTANCE

for Key Personnel

107~—140 W. 15 Street,
North Vancouver

984-0251

{

'& Wednesday —

- Tuesday & Thursday
| 7:00 -.9:00 p.m.

~ From September 5 to December 21st
 Atacost of $21 -OO\per course
~ plus $3.00 Student fee

REGISTER NOW |

Arg eR ep ane ym aM

For further information ..
Call Martha McKay .

| 986-1911 focal 236

-chewan bankers
top marks-for understanding

The. study also pinpointed ©

the failure of banks to
provide enough funds to
finance accounts receivable
and long-term loans. backed
by fixed assets, a particularly
difficult problem for
companies in business less
than four years.

*Provincially, . Saskat-
received

“

* RATE OF 0%% EFFECTIVE AUG 1. 1070
AND SUBJECT TO CHANGE WITHOUT NOTICE

the nature of the business _

involved (78%). Bank
managers in that province
were also the most likely to
have visited the client's
facility (77%).

At the low-end of the
scale, New Brunswick
bankers have the reputation
of being the worst in the
country. More than half the

—business peéple—surveyed ike New Brunswick:

Mon

Statemen:

Sener gt nf Mishima nema

Bonanza Acc

claimed service was simply
dreadful, with complaints

about 4 shortage of accounts

receivable funding almost

double the rate in the rest of

the country.
The Federation has passed

‘on the results of the study to

Canada’s “Chartered banks
and is pressing ‘senior
executives to provide better

! .
Financing is a crucial issue
for small business, as well as

the Canadian
After all, smaller firms
created a majority of the
new jobs in the country last
year, so their health is vital
to Canada’s future..

‘Roger Worth is Director,

Public _ Affairs, Canadian

economy. .

‘

service, especially in areas’ ~Federation—of—Independent____

atest

ON ACONTINUING .
MINIMUM DAILY BALANCE
_ OF $500.

‘y

The best daily interest chequing/
savings bank account in Canada.

Bank of British Columbia

ConadeMesten Bank

1457 Lonsdale Avenue
North Vancouver Tel: 980-2451

(INCLUDING CANCELLED CHEQUES.

— TT,
el >

1645 Marine Drive
West Vancouver Tel: 926-6071

WITH A SERVICE CHARGE
OF 25¢ PER CHEQUE
OR WITHDRAWAL

~

ount.