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the exa Monday May 14 1979 Published by Canadian Newspapers Company Limited l6 BayIield Street Barrie Ontario LAM 4T6 Bruce Rowland publisher NEWSROOM 726 6537 CIRCULATION 7266539 ADVERTISING 7266537 CLASSIFIEDS 7282414 Lets get down to earth Is everything possible in Barrie Or can we get back to earth and soon Mayor Archer at least has both feet on the ground when he suggests Barrie annot afford proposed $10 million recreation complex Barrie cannot afford utopia is how the mayor put it Indeed thats true Before Barrie pours money into costly recreation centre ti should look after other priorities This year it couldnt give the Barrie lolice department the extra men it asked for ll fire department is also shortstaffed No one is saying the recreation complex wouldnt be nice of COU lgt But public safety is surely the greater priority As far as recreation the better option would be for Barrie to investigate joint funding for Georgian Colleges proposed $4 million recreation project Any additional funds could then be channelled into dif ferent recreation facilities across the city Such move would allow better diversification of facilities It would also get the new facilities on stream when they are needed first step in recreation is to proceed with study to ex amine recreation facilities in Barrie That way Barrie would better know what facilities are needed and be eligible for government grant assistance Thinking down the road eight or 10 years and envisioning at $10 million city recreation complex is one thing In the meantime the city doesnt have swmiming pool it can call its own Dear Sir On April students wrote letters to three candiates hopcing to repre sent us in the next parliament After failry long discussions we came up with 12 questions which everyone felt were of some importance to themselves and to Canada Up to this time we have had no reply It is fairly difficu arouse stu dents interest concern in politics When they do show this in terest and are ignored the roots of cynicism grow deeper Thank you Concerned students at IVA Dear Sir The NDP socialist who once called the Liberals bunch of idiots couple of years later became one in name that is The reason for the switch of parties seems obvious During his earlier days as political strategist it is reported he wrote that one way for socialists to take over country such as Canada that rejected them at the polls was Your business By VINCENT EGAN Business and Consumer Affairs nalyst Thomson Ne Service tonvertiblc debentures are probably the ideal security for investors who cant make up their minds between stocks and bonds Come to think of it they are good choice for many other investors in time of iii flation convertible is basically the same as any other bond or debenture promise to repay stated amount at specific date and to pay fixed number of dollars of interest every vcar until maturity lhc difference is that these debentures can be converted into certain number of shares of the issuing company To illustrate lets say $1000 debenture is convertible iiilo 50 shares That means in effect that thedebentureholder has the right to buy the common shares at $20 each through conversion of the dcbcntu re Thus convertible dclxnturc is security with dual purpose call option to buy common shares at certain price and bond that will produce fixed income until the time comes tif it docsl when it would be advantageous to exercise the conversion privilege we want your opinion Something on your mind Send Letter to the Editor Please make it an original copy and sign it The Examiner doesnt publish unsigned let ters but it you wish pen name will be used Include your telephone number and address as we have to verin letters Because of space limits public interest and good taste The Examiner sometimes has to edit condense or reject letters Letters to the Editor are run every day on the editorial page Send yours to latter to the Editor The Ilalim Post Office Box 370 IARRIE Ont MM letters to the editor to take over political party that was acceptable to the voters That he did just that is matter of history Those who read his writings in the 50s in Cite Libre where he opted for redistributing of income and phasing out of free enterprise have realized that this leftward trend was to be expected Many Canadians were not only amused by but in some degree of agreement wih the verdict of Douglas Collins of the Vancouver Sun who wrote less than year ago say Trudeau is nut say all the people in his cabinet are nuts and that if we dont toss them out next time round we too are nuts Pierre Elliott Trudeau though undeniably brilliant is just too dangerous man to trust with the steering of Canadas future Lets not make the blunder of the century on May 22 and then in few years have to ask ourselves where we went wrong John Sigsworth Stirling Ontario Hybrid debentures market favorite However the perfect investment doesnt exist not even in the convertible debenture When corporation issues the debenture in the course of primary financing it fixes the conversion price at level somewhat higher than the current market value of the stock What often happens is that the corporation sets that price unrealistically high perhaps out of unfounded confidence about the future earning potential of the operation If the conversion price is too high and the market value of the stock never approaches that price then the conversion feature is useless In such case the convertible debenture is judged by the market on its other merits pri marily its yield Such judgment isnt likely to be favorable to the convertible because its interest rate has probably been set by the issuing com pany at level somewhat lowcr than it would be on nonconvertible of comparable quality Result The return to the investor would probably be less than on straight bond or debenture Convertible debentures are the basis of an investment strategy devised by an Ottawa investor and lecturer named Don Abrams and described in detail in his book The Profit Taker published by Dencau and irccnbcrg Ottawa Although the strategy is described by the author as straightforward it is too complex to be described adequately in this space IIOitl to implement the Abrams Autoiii lt lrolit taker an investor would set up margin lClttllll account llll broker who deals on the New York and American Stock Exchanges The investor would select convertible debenture tor prcfcncd stockl and once it is bought place an order to sell the common stock short ttliat is sell the stock inan ticipalion of buying it at later date The investor then sets price objectives for botli the short term and the long term Then the investor can profit regardless of the direction the stock happens to take ac cording to Abrams Abrams adds these sensible tips onsider the value of the assets of the issuing corpo ration aiid consider the growth potential for its industry miner serving barrie and simcoe county BUSINESS 7266537 From the legislature NEWSROOM ADVERTISING Craig Elson managing editor Len Sevick manager Ian Mulgrew city editor SALES Bill McFarlane wire editor WarneHar Dave Fuller sports editor Ade SWIM Steve Skinner Ba rb on Iron Bertislevens Claudia rouse Lifestyle editor RE POR Stephen Nicholls Dennis Lanthier Nancy Figueroa Lori Cohen Richard Thomas Terry Fields Stephen Gauer entertainment Gary orbcs Betty Armer camera operator CLASSIFIED Freda Shinner Peggy Chapcll Janice Morton By DEREK NELSON Thomson News Service Queens Park Bureau TORONTO One of the more popular political sports in Ontario is kicking Ma Bell around The grand old lady of the Canadian telephone business just doesnt have good image with lot of people And politicians are very quick at scenting Take note By ALEX MANJLR IS The term guard dog is misleading and definitions will range from any small pet who can bark to raving monster hell bent on destruction of every life form but his master Actually the dogs can be placed in five specific categories Image Dog This is any large dog whose size and reputation of his breed are enough to discourage most wouldbe intruders Alarm Dog Trained to bark at unusual sounds or at strangers The dogs function is to warn his owner or in the case of his owners absence to convince burglcr that the apartment upstairs is more intelligent choice Threat Dog This is an alarm dog whose training is carried one step further That is he will display agression on command but is not trained to bite 41 Guard Dog This dog is one usually call ed an attack dog and is trained for several different types of duty The dog has his own limitations and talents He is surprcmcly confident animal who will attack if his master is assaulted or on command 15 Special Security Dog This is guard dog with additional talents He may be what some trainers call cold killer or more fre SCOOPS Ruth Blais supervisor Dana Homewood intt mmimr is member at the Canadian Press CW and Audit Bureau of BUSINESS COMPOSING ROOM Pubhshw daily ecep Ull iAllCi Only the anguian Press rnay re publish news stories in Marian Gough accountani Jack Kcrncy toreman Sunday and this mwsnnie rrvriiiiii to The Associamd Press Routers Agence Vi Doiva Ming Gionananasst foreman sauorv hohdavs 1mmPrtaaantiImilniwsstnrcsnublishpnin tru Efiwtincr Gail McFarland Don Saunders Vikkioram LOrIe Wass WEEKLYchar Wt WWWIInvni109rioh0nallOriginalnewsandaavertismomatenal Brenda woods adogan 9095 treated by employee and published in this newspaper StanWray vEARLYbycnrrier CIRCULATION Bill Raynor $4680 omnuni Huixlrnliori minimr 70mm reqisicr BillHalkes manager EdAllcnbV YMAuygamg Steve White assistant manager Janie Hamel 30 National JIUVIIIISNIQ mm Queen Toronto 364 1710 540 Cancar Aftdv Haughton Susan Kitchen Alva LaPlante Ron Gilder Lisa Warry Barbara Strth Elaine Porter PRESSROOM Cheryl Aiken OPEC defenceless targets and giving them high visibility kicks Poor Bell Canada Its wonder she still functions at all with the list of enemies she has Opposition Leader Stuart Smith of whom one expects better is the latest to join the critics parade He wants all the profits Bell is making on $11 billion Saudi Arabian contract to go to keep rates down in Ontario rather than be distributed to shareholders The guard dog aways loyal quently dog trained not only to attack but track down human beings pieces of evidence or even drugs The police dog is superb animal an 0x ford Don among guard dogs More is demand ed of him than any other guard dog and he must be outstanding even when measured against the best of his kind These dogs have been used by law officers and military for several centuries With fur flying and his teeth clamped into an arm in grip that would easily break it he isnt everyones idea of good buddy But these dogs fit into this natural role of close friend and family pet The guard dog is an animal who loves you regardless of your race creed politics or financial worth His primary life goal is that you shouldnt suffer so much as bruise His sensory pcrdeptions are superior to those of any men He has better reflexes is faster and wont pause to worry about lawsuits or disciplinary actions He is on duty 24 hours day 365 days year He is fearless he is powerful and is will ing to sacrifice his life for you if necessary His weekly pay cheque consists of food and affection Where else can you get all this devil and saint all rolled up in one ms ELECTRIC UTlLlTIES ARE 100 BEHIND YOUR SOLAR ENERGY PROGRAM MR PRESlPENT Don Near foreman Fred Prince asst torcman Harris Blanchard Brian Marr st Montreal SIMCOE COUNTY S39 00 MOTOR THROW OF Sll 506 YCJY ELSEWHERE IN CANADA $41 006 year the llVlVItxdV mew that the publisher shall not be liable for namaocs arts ltlllllll ot IIlifl iv d111llllltlnl$IJIIUHU the amount paint for the space lUJlly orvutiiwi tiy ml portion at the advertisement in whiny the error or rurreri wintin error loi In the ntulqence at its servants or other wut unit ilwri hil or no liatiIity 10 non insertion oi any advertisement beyond the amount pmd tor our tn INIVQYIISIITHHI Kicking Ma Bell around still favorite Ontario sport Thats about $132 million over five years Bell makes the case the money should be treated the same as cash it receives from other activities such as its Northern Telecom holdings that are distinct from telephone company operations The Canadian RadioTelecommunications Commission CRTC who regulate Bells rates prefer the Smith approach and so ordered Bell to include the profit in their nor mal revenues Bell supported by the Ontario government is appealing the CRTC decision to the federal cabinet Which is all well and good but what is surprising isthat such question should have come from Smith in the first place Its more the kind of kiichcrk antiBell statements that flow from the New Democratic Party who deeply resent any private corporate success story Smith has long argued the need for successful industrial strategy for Ontario and has stressed that two key components should be Canadian ownership and the ability to compete against the world Bell fits that description better than most being more than 96 per cent Canadian owned and with one of the most widespread ownerships of any Canadian concern Its success with the Saudis indicates its ability to compete worldwide since it nudged out American Telephone and Tele graph Co of the US for the contract LEIGO Not that any Canadian who has done much world travelling and used telephones overseas would doubt it anada is one of the few countries where they work properly As monopoly Bell has to be regulated so its profits from its telephone operations dont gouge the customer and in fact the CBth restricts Bell to 12 per cent return on its in vestment But using money they make in other ways to subsidize the Ontario consumer is not only unfair to Bell punishing their successi but hurts the very concept of successful world class concern After all even the governmentowned telephone systems of western Canada an nually pay one per cent of their gross revenUe to have access to Bells knowledge and ex pcriencc Smiths low political assault on Bell is disappointment THEY WANT TAX CREDIT FOR EVERYONE WHO 5W5 The world today Soviet threat maior concern By JOIIN IIARBRON Foreign Affairs Analyst Thomson News Service In 1971 as member of Department of National Defence task force your columnist met and was briefed by Lord Carrington then the Conservative defense chief and now the new British Foreign Secretary Lord Carrington emphasized to our Canadian group from country which was quickly downgrading the Soviet threat that it was his major concern both where British security was concerned and for the future of the NATO member nations As part of Prime Ministerelcct Margaret Thatchers cabinet Lord Carrington will again set style for tough and persistent policymaking probably why Mrs Thatcher tapped him for this key cabinet post Of course he will again emphasize the Soviet threat also downgraded by the previous Labor government this time in tandem with the new defense chief David Pym But both Mrs Thatcher and Lord Carrington have much tougher nettle to grasp in the shape of the future of Rhodesia Mrs Thatcher made it clear in previctory statements that she would look kindly on the interim government now in power in Rhodesia with hints of recognition There are clear advantages to this in terms of the alternative Rhodesia ruled by the Marxist guerrillas fighting in the jungles who would turn it into another African Angola RHODESIAN IIAZABI But in spite of the ideological threat from that solution Britain is committed to bi partisan position on Rhodesia which if un done could have wide economic reper cussions for Mrs Thatcher Such shift to recognize the elected government of Bishop Mazurcwa would drastically upset British relations with the Carter administration In economic terms it would probably see the withdrawal of Nigerias substantial sterling balances held in London Nigeria is of course one of the worlds largest oil producing and hardcurrency earning nations and an irresolute opponent of any Rhodesian solution short of recognition of the guerrillas in power Then there is Northern Ireland where the new minister in charge of affairs there is the relatively unknown party whip of the Tories harder line position on that warring part of the United Kingdom cannot be imagined given the major presence of British forces there now and tough measures for imprison ment of terrorists which already bypass historic British civil rights Mrs Thatchers proposed tax reductions which will appear in her first budget probably by midJune are meant to stimu late overseas British sales and to encourage the return of massive flights of capital earned by British subjects living abroad Undoubtedly the most viable change in foreign policy direction for the Thatcher Carrington team will be in the area of stronger British ties with the European Common Market Both had been members of the previous Edward Heath cabinet in the early 19705 which took Britain into Europe with Prime Minister then in charge who had been an early Tory negotiator in Britains direct entry into the EEC NONWIIIIES PROBLEM Finally Britains ongoing role with the non white member nations of the Commonwealth will depend on the way Mrs Thatcher deals with the contentious issue of Caribbean and Asianimmigrantsinto Britain Her partys rightwing wants this stopped forthwith with clear racial overtones from their rigid proposals Backgrounder The origins of ice cream cone GItUlON oiin AP US Navy chiefs visit to local dairy bar has triggered month of research into the origins of the ice cream cone Chief lorpedomaii Ronald Bush says it all began when he read on dairys placental that the ice cream cone was imcnted bv Ernest llaniwi Hey thats not riglil it was my grand father BUsh recalls saying used to tell my friends at school Bush says but they laughed at me Nobody believed he antlllttl the ice cream cone Bush sent the placental to his lather Cecil Bush who lives in Akron Ohio And according to Bush his fathers month long search through family files confirmed what he has lelieed since childhood the inventors of the ice cream cone were Bushs grandfather Frank Meatlies and Franks brother harlie Bush says Illl pair made the lllsl cones at the 1904 Medina tltllll lliio hair He says the first cone was made by wrapping dough around an old sailors tool called lid which was Used to open splices in rope MONTHS IIIl Hamwi didnt come into the picture until several months later at the St Louis Ex position of 1904 Biish says llamwi was selling Persian waffle pastries next to an ice cream stand when he decided to combine the two Hush say The result was llaniwis World Fair Cornucopia the career navy man says An ice cream cone yes but not the worlds first After their first success at the Medina fair the Menclies brothers bought an Akron factory and opened their Premium Ice Cream Cone and Candy T0 Bush says He says the brothers produced 60000 cones day and sought unsuccessfully to patent the source of their newfound fortune The patent office said no because cones were simply pastries that could be produced at home