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WHITBY FREE PRESS, WEDNESDAY JANUARY 19, 1983, PAGE 11 Clyde Gray on hand for Big Brother fund-raiser Former welterweight boxing champion Clyde Gray will try his hand at bowling during the Big Brother's Bowl for Mil- lions Week Feb. 5-12. Gray, who is this year's honourary chair- man of the Oshawa- Whitby Big Brothers, Banks will join local celebrities Feb. 5 at Oshawa Centre Lanes, to kick off the organization's major fund-raising event. The 36-year-old native of Nova Scotia has thrown his support behind Big Brothers be- cause he believes "kids need all the help they can get." "I think Big Brothers is one of the greatest organizations there is," Gray said at a press reception last Wednes- day. He is currently the Ontario Athletic Com- mission Chairman, and lure consumers to take out Ioans By W. ROGER WORTH Syndicated Columnist Even high interest rates, a recession and burgeoning unemploy- ment haven't caused Canadian banks to cut back on advertising ap- peals to consumers. Ail borrowers need, it seems, is a reasonable credit rating, a 20 per cent down payment, and presto, anyone can have a $10,000 car or truck sitting in the driveway. If the borrower fails to pay, the bank simply seIls the collateral (the vehicle) to pay off the loan. Now consider the plight of an entrepre- neur arriving at the same bank for a busi- ness loan. Unlike the 20 per cent down payment for ordinary consumers, the banker will require collateral valued at as much as four times the amount of the loan. In fact, there are few small business people who haven't pledged their homes, properties and other personal assets when they borrowed. That's just one of the intriguing facts that Budget keeps taxes down From Page 3. money at high interest rates to keep the municipal wheels turn- ing. "It means our staff know what their finan- cial resources are, and can plan and act açcor- dingly," Edwards said. "It means that any business anxious to know what their costs might be in the ensuing year will have that ad- vantage in Whitby, over other communities." Edwards said it is the sixth consecutive year the town has avoided "going to the debenture market" to finance new projects, thus avoiding high rates of ifnterest charged on loans. He added that unrea- sonable and exorbitant increases were avoided by "cutting our coat ac- cording to our cloth". "Gone are the days when staff came in with unreasonably high bud- gets anticipating that budget cuts would stiill leave flexible surplus- es," the 20-year veteran of municipal politics told counp.il. "I don't know," Ed- wards said, "what we can do for an encore next year." turned up in a study pre- pared for the 64,000 member Canadian Fe- deration of Independent Business. "We were astoun- ded," says Patricia Johnston, Vice-Presi- dent of the organization. "Smaller firms are being treated unfairly. Johnston says the study indicated the average amount of collateral pledged on such business loans in Canada is a massive 279 per cent of the amount borrowed, of which two- thirds is personal security. New firms were forced to put up an unbelievable four times the value of the amount borrowed. To put the situation in perspective, in the United States, more than 20 per cent of the value of bank loans is unsecured by collateral. For small business and the country, the collateral issue is cru- cial because, under the present rules, potential ent:repreneurs are less likely to go' into busi- ness, thus depriving the nation of badly needed jobs. The banks, of course, are winners, taking very little risk as they charge relatively high interest rates. Perhaps it is time our banks started to emu- late their counterparts south of the border, rather than placing so much emphasis on con- sumer lending. As it stands, the bankers are having their cake, and eating it as well. Explosion damages car and shop Fire department offi- cials are investigating an explosion at Owasco Volkswagen Ltd. last Wednesday that caused extensive damage to a 1982 Volkswagen Rab- bit. Durham Regional police say the explosion occurred at about 1 p.m. Jan. 12 in the paint shop at 1425 Dundas St. E. A worker who had been painting the car had just stepped out of the booth when the explosion oc- curred, police say. Extensive darnage was caused to the inter- ior and exterior of the car, but no one was hurt in the blast. Fire officials are still investigating and have not released a figure on the extent of the dam- age. worked with youngsters in the Whitby area during his residence in Oshawa, Bowmanville and Solina. Alvin Brouwer, recruitment chairman for Big Brothers, says he hopes Gray's par- ticipation in Bowl for Millions will make the event a success. "I just called him out of the blue more or less," says Brouwer, who is a Big Brother in Oshawa, "And he has really come through for us.", Those who wish to participate in Bowl for Millions can pick up sponsor sheets at local bowling lanes or any Checkers store. Partici- pants collect sponsors for a game to be played at any local bowling lane during the week of Feb. 5-12. Special events in this year's Bowl for Millions include a celebrity day on the 5th at Oshawa Centre Lanes and a family bowling day at Leisure Lanes Feb. 4. As well as individual participants, local leagues will bowl throughout the week to raise this year's target of $22,000. Another highlight of this year's Bowl for Mil- lions campaign is the "Phantom Bowler". Local residents can guess what the phan- tom's score will be, and the winner will split the lottery pool 50-50 with the Big Brothers of Oshawa-Whitby. Big Brothers hopes to generate interest in the organization during the special week because there are 50 young boys in the area who are waiting for a Big Bro- ther. Anyone who is in- terested in becoming a Big Brother, or would like more information, is encouraged to call the office at 579-2551. COMING EVENTS CALENDAR DISPLAY Pinewood Centre of Oshawa General Hospi- tal will be holding a dis- play at the Oshawa Shopping Centre Jan. 19 to 21 from 9:30 a.m. to 9:30 p.m. (near Con- sumers). Come out and meet the staff and find out more information about alcohol and drug issues relating to adults and youth. COMPUTER KIDS Has the computer bug bitten you? If it has and you are between the ages of 8 and 12, you are invited to learn more about computers at the Whitby Public Library with computer expert Mr. Naujok. The programs wil be held on Jan. 22 and 29 from2:3oto 4 p.m. in the library auditorium. There is limited regis- tration, so register early. DANCE Tammy Timmy Snow- arama Dance will be held Jan. 29 at the Royal Canadian Legion, Bran- ch 322 on Hunt Street in Ajax. An admission fee of $5 per person includes chili and rolls. Music by DJ from8 p.m. to la.m. Advance tickets at the Legion hall. Call 683- 7811. All proceeds go to Crippled Children. REUNION Calling all graduates of Dr. F.J. Donevan Colegiate Institute in Oshawa. This year marks the 25th anniversary of the high school, and a reun- ion is being planned for all alumni on April 29 and 30, 1983. A two-day agenaa ot activities is being plann- ed by the Reunion Com- mittee, and it is hoped that all who remember their high school days with fondness will come and join the fun. Anyone who is inter- ested in attending can obtain more informa- tion by writing the Donevan Reunion Com- mittee, 250 Harmony Road South, Oshawa, Ontario, L1H 6T9. CENTRAL PAINT AND WALLPAPER -if flenjamin Moore Our Annual ~auarySale is now on. 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