Bankruptcies threaten Canada’s financial system warns official
EDMONTON CP Canada’s economic crisis deepens as Robert A. Splane vice chairman of the Canadian Commercial Bank warns a bank or trust failure could follow a major company bankruptcy. He cites rising bankruptcies, laments high interest rates, and notes many may close without appearing in statistics.
MENTIONED IN THIS ARTICLE
Edmonton
Canada
Robert A. Splane
Canadian Commercial Bank
Splane
Dome Petroleum Ltd
Group plans cheap mortgages in Calgary proposal
Alberta businessmen explore a five percent mortgage plan based on Germanys Bausparkasse savings club. Village Home Savings Ltd president Jim Wood seeks Alberta Securities Commission support to test the German system here. He cites 3 percent savings interest and 5 percent borrowing offer amid Germanys vast housing market.
MENTIONED IN THIS ARTICLE
Calgary
Alberta
Jim Wood
Village Home Savings Ltd
Wood
Alberta Securities Commission
Germany
Realtor admits evading taxes in Alberta case
Lethbridge Realtor Roy Cleland and River City Realty pleaded guilty to evading taxes and altering records. Cleland admitted $11 100 in taxes. the firm faced one count of altering records to hide revenues. Judge Hudson reserved sentencing to August 18 to review the precedent setting case.
MENTIONED IN THIS ARTICLE
Lethbridge (Cp
Roy Cleland
Lethbridge
River City Realty
Cleland
River City
Lloyd Hudson
Federal Justice Department
Ian Donahoe
Alberta
Donahoe
Town votes for nuclear disarmament referendum near Cold Lake
Grand Centre Alberta council voted 4 to 2 to include a nuclear disarmament referendum in the 1983 municipal election. The measure asks residents if they support nuclear disarmament, avoiding general disarmament which council fears could unsettle the military and CAF. Nearby bases and several Canadian towns plan similar referendums.
MENTIONED IN THIS ARTICLE
Grand Centre
Alta
Alberta
CFB
Cold Lake
Job Market Tightens for Medicine Hat Students
In Medicine Hat the summer job outlook worsens as 1981 vacancy counts fall. John Scott reports adult vacancies from April to May drop to 393, while Hire-A-Student has 210 current orders versus 352 in 1981. Debi Wouters notes more students seek work than adults though jobs remain scarce.
MENTIONED IN THIS ARTICLE
Medicine Hat
Canada Employment Centre
John Scott
Scott
Hire-A
Debi Wouters
Wouters
PIP lag costs oil firms under Canadian incentives
Oil industry spokesmen criticize the federal delay in paying grants under the Petroleum Incentives Program. The program rewards Canadian content with up to 80 cents per dollar and 35 cents on provincial offshore exploration. Ranchmen's Resources chairman John McDonald says the delay costs his company about 5000 dollars daily.
MENTIONED IN THIS ARTICLE
Edmonton
National Energy Program
John McDonald
Ranchmen’s Resources (1976) Ltd
Ranchmen’s
Canada
Town greets Nobel saint during Mother Teresa visit
About 300 people waited two hours at St. Paul airport to greet Mother Teresa as she traveled to a convent for the night. Residents raised 925000 with government help to fund her visit, and crowds praised the charitable work she represents. She later received an honorary degree in Edmonton.
MENTIONED IN THIS ARTICLE
Mother Teresa
St. Paul
Alta
Edmonton
Adele Dahrouge
Rose Poty
Nelson
British Columbia
Poty
Helen Fedoruk
University of Alberta
Crawford defends appeal of Syncrude negligence case
Alberta Attorney General Neil Crawford says reopening the criminal negligence case against Syncrude Canada Ltd is an appeal not an insult to the judge who dismissed the charges. The province filed a preferred indictment after charges were initially laid in July 1981 and dismissed in April. Syncrude operates oil sands plants in northern Alberta. two workers died last year.
MENTIONED IN THIS ARTICLE
Edmonton
Syncrude Canada Ltd
Alberta
Neil Crawford
Crawford
Syncrude
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