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For making toilet seats New machine aids production The upagain downagain aspect of toilet seat production has scored another first at Moldex Barries largest Cana dian owned industry Last week the plant was buzz ing with the arrival of 100 ton piece of equipment which will increase the production capabilities of the factory by about 20 per cent The Cincinnati Milacron plstics injection moulding machine capable of exerting 1000 tons of pressure was in stalled in its new location at al Moldex It is one of the largest ever installed in Simcoe Coun ty It took alot of ingenuity to get it there The equipment arrived at the rail si ing at Jim Walter Building Products Cranes removed it from its rail flatcar and transferred it to tractor trailer flatbed It was driven to Moldex on Bayview Drive and subsequently installed in the 70000 square foot plant The machine is impressive in stature 43 feet long and 13 it wont be long before this gigantic piece of equipment will be coughing out toilet seats with ease Moldex Plant Manager Mansel Powell left and setup man Ross Martin discuss the initiation of this new Cincinnati Milacron into the tactorys production schedule We will make mistakes but two million of them Despite improvements to the 1979 tax guide Canadians will make as estimated two million mistakes on their income tax forms this year John Brooks public relations officerfor the Toronto District Tax Office covering Simcoe County said lot of people are overwhelmed by the amount of paper they get with their tax forms but most of the schedules to not apply to them think the guide is wellwritten enough to assist people in filling out their forms It seems most people take this advice Out of 12 million tax forms filed with the federal government in 1978 two thirds were filled out by the individual tax payer One third was either completed by lawyers or in come tax businesses Nevertheless two million mathematical errors were cor rected in 1978 by the tax date proce5sing centre in Ottawa These include 400000 changes to interest dividends and capital gains deductions which are usually underestimated or forgotten And 275000 people forgot to claim standard medical deductions 275000 forgot to claim employment ex penses and 83000 forgot to claim their children The list goes on But Canadians shouldnt feel so bad these figures total two million only 15 per cent of the total 12 million forms filed last year CHEAT THEMSELVES lot of people chat themselve on their tax forms Many forget to claim deduc tions that the data centre wouldnt necessarily catch and correct like charitable dona tions tuition fees and educa tional deductions for students and registered retirement sav ings plans Tom cBride owner of the and Block franchise in Bar rie said Many people are not aware that it is possible to report bond interest and term deposits on yearly basis rather than when they cash it in Pensioners usually run into this problem which can be remedied if they prercport the interest on their savings bonds Also people forget to claim moving expenses person becomes eligible for this deduc tion if he moves or more miles closer to work This year the federal govern ment introduced the child tax credit which only mothers or persons collecting family allowance can claim The mother must have social in surance number T1 form an estimate of income for 1979 and schedule 10 included with every tax form Tax forms can be picked up at any post office If your T4 form is incorrect ask your employer to issue another one McBride cautions tax payers not to change any numbers on the T4 form And everyone should have had their tax forms postmarked by midnight April 30 1979 Pro crastinators must pay five per cent penalty on their tax payment However those receiving refunds can take up to four years to file their forms McBride said We dont want to encourage people to do this but every year we get peo ple who have not filed for four years The government usually honors these requests and weve had 100 cases this year Not one form was returned so the people will probably get their money feet high and even more im pressive for what it can do for toilet seat production Marketing Manager Ed Hardison says it is capable of increasing the companys pro duction and producing higher quality toilet seat with less waste of raw materials The machine automatically mixes ingredients and pours its material through tube into mould using clampforce of 1000 tons Moldex opened at its present Bayview Drive location in late 1973 has undergone two plant additions since and President Bill Caldwell says he hopes the installation of the Cincinnati Milacron will help his firm deal with its domestic and foreign markets by offering better pro ducts and better delivery ser Vice Discount increased VANCOUVER CP CP Air announced Tuesday it will increase its discount to senior citizens on oneway economy fares on transcontinental routes to 25 per cent from 10 per cent effective June The discount subject to govern ment approval brings tran scontinental fares for senior citizens into line with discounts offered on CP Airs western services Cheque values up TORONTO CP The value of cheques and other payments processed through the deposit accounts of the chartered banks in major areas of the country in March totalled $304197 billion up 232 per cent from $245731 billion year earlier The Canadian Bankers Association said the figures provide an in dication of economic activity particularly in the private sec tor Director moved SIVIAWA Ont tCP Dun can Brodie native of Osh awa has been posted to Detroit to take over as director of the service section for General Mo tors Corp Brodie has been as sistant general sales manager for field operations at GM Ca nadian headquarters here Mustangs recalled OAKVILLE Ont Ford Motor Co of Canada Ltd has announced it will recall 347 Mustangs and Capris all 1979 models to check plastic fan guards that could come in contact with fan blades Consultants needed for negotiations insurance pension specialists told TORONTO CP Employ ers should make greater use of management consultants when negotiating benefits in union contract insurance and pen sion specialists were told Tuesday Ewart OHara Toronto based consultant said employ ers who negotiate on their own MEL sometimes play into the unions hands He told panel discussion at the Canadian Pension Confer ence annual meeting he has seen negotiated benefits which are impossible to market awkwarkd to ad minister and in some cases il legal OHara vicepresident of Murray Bulger and Associ ates Ltd said the consultants role should be behind the scenes in bargaining and he should be drawn in only as an expert on particular point Rudy Kotapski manager of employee benefits with Inter national Harvester Co of Can Edper buys more BrasCan TORONTO CP Edper Equities Ltd of Toronto has bought another 34 million shares of Brascan Ltd giving it 31 per cent of the outstanding shares if Brascan the multina tional seeking to take over FW Woolworth and Co of New York Peter Bronfman chairman of Edper made the an nouncement Tuesday saying Economical now to mine for metals prices up MONTREAL CP When metal prices go up as they are now mining certain metal de posits becomes economical and one prime example is gold At $250 troy ounce which weighs 31 grams instead of 28 explorers now are considering mining ore containing as little as 38 of an ounce of gold per ton Edward Caldwell the new president of the Canadian In stitute of Mining and Metal lurgy said in recent inter View Caldwell 59 is manager of exploration properties at Van couverbased Cominco Ltd company which mines gold sil ver lead zinc and copper Theres been significant amount of activity in gold Caldwell said speaking of min ing in Canada Before prices skyrocketed return of one half ounce of gold from dne ton of ore was acceptable Explorers are looking at even as low as 38 ounces ton which means that the con centrating of that involves lot of expertise on how to get the material out and improve tech niques as Concentrating means separa ting the metal from the ore Canada is world leader in mineral exploring techniques and Caldwell wants to use his term as president of the in stitute to promote continued technique improvement The point Im trying to make here is that we deal on the international market and it is necessary that we maintain the advantage we have in tech nology and productivity he said He expects to spend about half his time in the coming year attending institute branches and district meetings and mining association meetings around the country as well as looking after institute ad ministration As for the future of the $21 billion industry which ac counts for seven per cent of the gross national product and employs 150000 Caldwell said there is growing optimism as metal prices rise But he couldnt estimate how long the upswing would last be cause there has been no pattern to past cycles Edper now was comfortable with this position and now out of the market Edper bought the stock Tues day on the American Stock Ex change following the purchase Monday of 33 million shares that increased its interest in Brascan to 18 per cent from five per cent Trevor Eyton legal counsel for Edper said his company feels it has enough clout to speak for 45 per cent of the voting Brascan shares and stop the Woolworth takeover proposal Earlier Edper said it has received pledges that would give it further 15 per cent of Brascan Eyton confirmed that the company would seek special shareholders meeting this week where it would seek additional support from shareholders to force Brascan to abandon the Woolworth proposal Edper has also asked the New York State attorneygeneral for the opportunity to appear at hearing in New York City on May 10 when the Brascan Woolworth deal will be re viewed Bronfman member of the wealthy Bronfman family of Montreal with interests in the Seagram distillery empire said the actions taken by Edper in the last few days are in the best interests of Brascan Edper twice abandoned plans to seek control of Brascan be cause of Braseans rsistence in seeking ta cover of Woolworth ada Ltd said benefits are major cost in contract settle ment and company usually cannot afford to give away more than his competitor does He said unions also make less use of consultants than they should think union experts have tendency to keep you manage ment honest and see merit in union expert being at the bar gaining he said The prob lem is that most unions dont do it Earlier in the meeting pen sion specialist described Prime Minister Trudeaus pension proposal to housewives as giveaway to the rich The lowerincome earner is not going to participate said Crozier superintendent of pensions for the Saskatchewan government The rich will get richer and the poor will get poorer The proposal to include housewives in the Canada Pension Plan was made in an election speech last week when Trudeau called for revision of public and private pension plans Industry has faith CAMBRIDGE Ont CP spokesman for heavy in dustrial users of electricity says his group has faith in On tarios nuclear reactors despite the scare raised by the recent nuclear accident at Harrisburg Pa Kenneth Voss director of the Association of Major Power Consumers in Ontario told service club Tuesday that the radiation leak at Harrisburg brought all our local antinu clearists out of the woodwork But he said Ontario Hydro which operates Candu nuclear plants at Pickering and Douglas Point and is building another at Darlington Ont is not like Harrisburg This machine capable of exerting LOOO tons of pressure will increase toilet seat production at Moldex in Barrie by 20 per cent The company on Dollars sense ly Canadianowned producer of toilet seats took delivery of this halfmilliondollar device in late April it took the cooperation of rail truck and brain power to deliver the equipment to the plant Ordinary cash dividends or stock options which By RALPH ALEXANDER Dear Sir own small portfolio of dividend paying Canadian com mon stocks Two of these stocks are International Nickel and Calgary Power Ltd Recontly received correspondence from both of these companies introducing the option of receiving dividends in the form of additional shares of the company as opposed to ordinary cash dividends Shouldl elect this option or continue to receive cash dividends Dear The relative merits of the two optional forms of dividends for any particular individual will depend upon three main factors The level of taxable income of the individual The length of time the individual anticipates retaining the stock The cash income requirements of the individual In general an individual in lower tax bracket will be bet ter off receiving the cash dividends wheras the individual in higher tax bracket should opt for the stock dividend par ticularly if he plans to keep the stock for number of years and does not require cash income from the shares in the meantime Cash dividends generate currently taxable income of 150 per cent of the divident plus dividend tax credit to be sub tracted from income tax payable The combined effect of Another looks By DOUGLAS GREENWOOD Its reported by the Washington Spotlight that the Rus sians are expected to announce new treatment if not cure for cancer at this months New Orleans conference of the American Association for Cancer Research Hydrazine Sulphate an industrial drug available cheaply and in large quantities has also been under study since 1968 at the Syracuse Cancer Research Institute Dr Joseph Gold head of the Syracuse research team is stated to have shown that the drug is effective in oral doses which are non toxic and have no side effects Hydrazinc sulphate in tests on laboratory animals has been confirmed as 60 per cent successful in treating not only cancer but side effect of the disease known as cachexia Cachexia is the emaciated condition of persons dying of canCer Gold stated that the Petrov Research Institute of Leningrad has found that the drug arrests and reverses cachexia an independent disease of cancer on signifi cant number of patients Some of them respond within 48 hours and less others may take as long as four weeks to show improvement But it has also been shown that hydrazine sulphate not on ly relieves cachexia thus restoring normal appetites and general wellbeing but also stabilizes the cancer itself In 40 per cent of the patients who received the treatment regres sion of the tumor occurred And these were latestage cancer victims Dr Gold points out Where the cancer has been caught early the effect would be anybodys guess LSING DHLG Apparently thousand physicians in the GS and the world have been using hydrazine sulphate on their cancer patients on an informal basis with encouraging results Not single case of toxicity of other body organs has been reported from the drugs qsage Gold said that in only one per cent or less of patients using the drug experience slight nausia at first or slight drowsiness or tingling of the the divident gross up plus the tax credit is shown below as Tax Payable on Cash Dividends Stock dividends are not subject to income tax when declared However the stock received has cost basis for capital gains purposes of NIL When the stock is sold one half of its value will be taxable as capital gain Therefore the tax rate on stock divident can be viewed as being one half of the individuals marginal tax rate The following chart illustrates the comparative tax rates involved Approximate Tuxtile Ontario and Federal lTu Rut Payable Tax on Stock Income Tax Rate ion Cub Dividends Dlyldend $15000$18000 36pm cent Oper cent 18 per cent wpercent 6per cent wper cent 46 per cent 15 per cent 23 per cent 52 per cent 24 per cent 26 per cent 56per cmt 30percent upercent 62 per cent 39 per cent 31 per cent It should be remembered that the tax on the stock divi dend is not payable until the stock is sold Therefore recognizing the advantage of tax deferral an individual ear ning $25000 might prefer to receive stock dividend over taxable dividend even though it will ultimately be taxed at somewhat higher rate in the future To the investor wishing to increase his holding of the stock involved stock dividends offer the opportunity to obtain the shares without paying any commission of fees Cancer cure discussed more flimflams noted fingers Certainly hydrazine sul hate has never caused single death unlike other drugs tliat have been used to com bat cancer Dr Gold is glad the Russians are going to announce the drugs effectiveness because apparently the American Cancer Society has been dragging its feet in admitting the drugs effectiveness Now Gold feels the Russian an nouncement will force recognition of the drugs value Is hydrazine sulphate to be the key that unlocks the gates to world free of ca ncer When asked Gold said he believes the potential for this type of treatment seems unlimited ANOTHER ILIMFLAM Heres an example of how you should watch the fine print of government utterances It often turns out that what you think they mean means something else entirely FlimFlam We shall strive to define and enact the legal boundaries of all peoples of the world whether at pre sent free or not to ensure and guarantee by international forces of true morality that equality of life shall be enjoyed by all We shall further clarify the geopolitical regions of the world that will qualify for the setting up of our national sovereignty units of social activities such that their regional leaders shall enjoy complete freedom of communication in terdependence and mobility within the mutuality of our common cause All shall be subject only to the central establishment of human brotherhood There shall be no hin drance either economic or otherwise to the worldwide freedom of movement of such regional leaders and their delegates Real meaning We the dictators of the world are going to set up concentration camps everywhere for every living per son Only those chosen by us as guards will be free to travel anywhere in the world anytime they like Now Maybe we should all listen bit tighter to what politicians say