Allen llartwick plant manager for Reinhart Vinegars Ltd shows one of the bottlefilling and capping machines that fill gallon and halfgallon and other sizes of plastic bottles with vinegar for groceterias and the wholesale market Baker Federal Business Devefo ment Bank the oxamlnor Saturday May 14 1977 13 Small businessman benefits By PAUL DELEAN Examiner Staff Writer There was time when the Federal Business Development Bank made mostly industrial loans That has gradually changed and the small businessman has been the beneficiary Ian Smith manager of the FBDB Barrie branch told breakfast meeting of the Greater Barrie Chamber of Commerce this week that the bank authorized just over2000 loans with total value of about $84 million in Ontario during the year ended March 31 The bank has expanded its scope to the point where it is lending to almost any type of business he said lhe FBDB Crown corpora tion doesnt make loans blind ly It must see the positive side of the operation both in management and earnings po tential before ap roving any outlaySmith note Its not in competition with chartered banks and other len ding institutions but rather an alternative for entrepreneurs who have been unable to secure financing at reasonable terms from other sources We must assure ourselves that the funds are not available elsewhere at reasonable terms Smith said We do have role to play We like to think its productive role Refinancing and equity finan cing are two areas in which the bank is becoming increasingly involved he said The bank has existed since 1944 although it got name change in 1905 It also got the added respon sibility of providing manage ment savices to businessmen Maurice McConnell informa tion services officer for the bank in Toronto told the chamber members that the management service respon sibilities include counselling and informing about the over 140 federal programs available to the business community The primary objective is aiming and fostering manage ment services in small businesses We could and should be more than financs ing institution he said The bank organizes training seminars and has published series of booklets called Min ding Your Own Business The knowledge about govern ment programs available at no cost at the bank can cut red tape and conserve the business persons time McConnell said Mismanagement is major reason for business failure The bank has over $1 billion in loans outstanding at this time in the country Smith said there is no limit on the amount of money that the bank can loan Terms vary from 11 per cent on amounts to $50000 to minimum of 12 per cent for loans over $250000 believe the Federal Business Development Bank has pushed the banks into len ding to small businessmen Now they have to do it because we have an alternative com mented chamber president Ed Harper in concluding the meeting IAN SMITH cxpanded scope Reinhart Vinegars Ltd keys on its name for purity quality By BRIAN BAKER STAYNERWhen most of us think of Stayner we automatically and simultaneously think of vinegar and lteinhart Vinegars Ltd at 114 King St on the north end of Stayncr beside Highway 26 on the route to Collingwood And well we might think of lteinhart In this plant some of the best and most distinctive vinegar in North America is produced by the tens of thousands of gallons from pure apple juice and from alcohol making tangy cider vinegar and zesty white vinegar Originally the business was started by the Reinhart brothers and their father in Stayner in 1910 At first they produced not only vinegar but also apple sauce spiccy apple butter and heady apple cider Today the business is limited to the production of one product vinegar on large scale The business is now owned and operated by Robert Singer of Toronto and Eldon Bell who prefer the business to retain the traditional Rcinhait name Apples are no longer crushed for juice production at the plant Instead apple juice is bought by the tractortrailer load from apple processors in the Winona and Niagara Falls and cast ollournc arcas Although Bell points out that the exact process for making vinegar is trade secret he did give the basic procedure Governments beyond our means says exlmperial Oil chairman TORONTO Clv er Govern ments at various lcvcls came under attack Wednesday when critics from the public and pri wrong 1T6 Your business an you identify this automobile and what year it is Its lot newer than some we have been running but we bct half the answers will he The pure apple juice contains natural sugar Hence in huge wooden or stainless steel tanks the juice is warmed and slowly fermented When all the sugar has been fermented otit of the jtiicc thc apple juice has become in fact alcohol Further fermentation at very precisely controlled tem peratures in acctcr tanks conv verts the alcohol into the vinegar forming acetic acid The final process is pasteurization to permanently stabilize the chemical coin posit ion of the resulting vinegar and preserve its fine taste and flavor The resulting vinegar is cider vinegar The process for making whifc vinegar directly from alcohol rec uires only the acetcr proccss an pasteurization Since the vinegarmaking process relies on conversion through yeast action the tem perature in the tanks must be very strictly contiollcd if thc temperature falls too low the yeast will not work if it rises too high the yeast will pcrish and the process will stop Both types of Vinegars are made from an alcohol base Bell cxplaincd that hardwood tanks as well as stainless stccl tanks are still used bccausc vinegar is an acid that will dissoivc iron and most othcr container material othcr than vatc sectors set out to analysic Canadas economic ills Nearly 30 speakers from across Canada and abroad pre weels of yesteryear Last weeks winner of Wheels of Yesteryear is Mrs irant of 11 Lount SL Barrie She correctly identified the 1951 Vluntz Send your answer to Wheels of ycsterycar The Examiner Box 2170 Barrie Ont Lt Winner drawn from all correct answers receives gift certificate worth $10 from The Brass Group good only at Brass and ilen ltd 11 Dunlop St Barrie Draw for this contest is made at 11 am on Fridays Photo plastic wood and stainless steel Like the stainless steel tanks the average size of the wooden tanks built like giant wooden stayed and straightsided barrels is whopping 15000 gallons So large are they that their two storey height must be ac commodated by going down iii to the basement and up through the roof One tremendous storage tank holds 50000 gallons of vinegar Known to all railway buffs throughout Ontario was the 10 ton vinegar railway tankci owned by the ltcinhart com pany and used until recently for the railway transportation of vinegar Sonic 11 feet long and seven feet in diameter it was again constructed likc great cylin dcr shaped harrcl of heavy plank tongucgroovcd har dwood bound by thick iron hoops licll says that thcy have since donatcd it to museum in Toronto Now thcir 3000 gallon gleaming stainlcss stccl truck trailcrs are common sight on thchighwaysoflntario Gtlflllt2 Rcinhurt vincgars have always had good lllllllt for purin and quality rcinarks Bcll That is thc way the busincss was built up In the fir st placc and that is the way wc intcnrltokccpit scntcd their views at group dis cussions and in sptcchcs at tintday economic conference 111ch Window On Tomorrow By VINCENT EGAN Business and Consumer Affairs Analyst Thomson New Scr vicc The May reduction in Canadas bank rate to threeyear low of 75 per cent from eight per cent means different things to different people If you are borrowing to buy house car or any other major item it will probably lead after timc lag of three weeks or so to slightly lower interest cost If not it should at lwsf help to keep borrowing costs from rising orporations may find it marginally easier to borrow funds at the bank or on the capital market to buy ncw equipment and to expand their operations That pins on the side of jobcreation 1o foreign investor it means that Canada is just little less attractive as place to invest with this coming on top of the uncertainty about Quebecs future and Saskatchewans provincialization of potash produccrsi The anadian dollar which had been creeping upward declined immediately in relation to the United States dollar as it declines the things we must import become correspondingly more expensive lo an economist it is step in the direc tion of expansion of the money supply and excess monetary expansion is the rotilc to in flation SLOWER iltOWIll Howcvcr monetary expansion hasnt been excessive in recent weeks judging by the Bank of Canadas definition of desirable rate of expansion The central bank had earlier set range of eight to 12 per cent year as the amount by which money supply defined as currency in circulation and demand lemsits at char tered banks ought to increase That it feels IS high enough to accommodate reasonable economic growth and low enough not to en murage inflationary spending On average however money supply has been increasing at slower ratewabout six It goes without saying that we have good market for our Vinegars and in regard to our cider Vinegars you might say it helps our Ontario applc growers directly or indirectly We sell considerable amount of vinegar in retailltsizc plastic bottles to chain groceterias and to wholesale food distributors Our markets extend throughout Ontario par ticularly to London Toronto and Hamilton as well as to Monteal and Western Canada The biggest percentage of our vinegar however is ship by us in bqu directly to the arge pickling plants through out southern Ontario in par ticular The writer wandering through the spotlessly clean lant could only feel dwarfed the giant vats and tanks packed through the plant almost like cells in honey comb Pipes the size of irrigation systems and big centrifugal pumps transferred the vinegar in its various stages from one process tank or area to another Down the centre runs four unit production line where hot tles are automatically filled with vinegar and capped and sealed into cartons as fast as they can go down the track Well may ltcinharf Vinegars Ltd be called unique as food processing establishment in entral Ontario Pass thc vinegar plcascf punsion and sponsored by the Progrcssive onscrvativc larr ty of anada lwaits former chair man of Imperial Oil Ltd said government bureaucracies complicatc cconomic issucs He said anadiuns havc bccn incrcasingly rcmiiidcd they arc living beyond thcir incans but more realistic description would be that governmcnts at all levels have betn living be yond the means of anadiaiis Noting that anada has the largest foreign debt $4115 bil lionwof any country Twaits said taxpayers are faced with enormous rates of repayment Neil Reimer national dircc for of the Oil Chcmical and Atomic Workeis International ITnion said it is national disgrace that one million people in anada are unem ployed Iteimer chairman of the Ca nadian Labor Congress said the public has become critical of institutions that normally arc relied upon to providejobs IIOISINGSLIMIS He said particular concern of the labor movement is the slow growth in spending on housing It per cent Chartered banks accordingly have found themselves bit pinched for loanablc funds Some of the factors that have contributed to the recent weakness of monetary growth are probably only temporary said limik of Canada Governor Gerald Bouey But in the Banks judgment there is now room for some decline in shortterm interest rates from present levels without running the risk of overly rapid monetary expansion that would jeopardize continuing progress in moderating inflation in Canada CHANGING THE MIX In technical terms the bank rate is the in terest that the Bank of Canada charges when it lends to the chartered banks which it does only rarely In more practical terms it functions as weathervane pointing the direction of the winds of government monetary policy Throughout most of 1976 when the Trudeau business notes Store hours cooperation muncratin Cooper acquires Wiss oopcr Tools Limited with plant in liairic has acquired Wiss thc long established manufacturer of quality Shears Scissors Snips and Knivcs Thc Wiss product rangc compliments the existing oopcr lims of nsccnt wrcnclics plicrs and screwdrivers Lufkin tapc rulrs Nicholson filcs rusps and saws Wcllcr soldcring equipment and Xctlitcclcctronic hand tools Wiss was first fornicd in 1840 in Newark New Jersey when lacob Wiss built bitsmcss and reputation for superior and durablc shcars lhc company used power lltlplléllllllltls for hot dropfoiging stccl shears frames which wcrc installed as curly as 1906 The inclusion of Wiss products into lhc oopcr Group huiidtool rongcs continucs tlic oopcr planned policy of cx Reed Paper has loss TORONTO itlr $1 million or 12 ccnts sharc for thc first thrcc months of this yctrr compzircd with not profit of $2 10 million or 10 cents sharc for the first quartcr of 11171 Salcs for thc latest ptlltxl totalled $1011 77 million tip from $1tlf1ttinillioii llillingslcy newsprint markets gentrally wcrc wcakcr through inUch of thc quartcr and sonic prmluccrs offcrcd lower prices to stimulatedcniund Results were also affccfcd udvcrscl by market wcukncsscs in lumber and building matcrials packaging and decorative products llilliiigslcy said Ford eyes record DIZlltt tll Ali pectcd dcmand for new cars predicted Thursday that new vehicle sales in thc lnitcd States will reach record 15 million this ycar The forecast by thc Ford Motor chairman is tip 300000 units from the companys last sales llltdltlltm made in February and up onc million from forecast issued at the end of 1976 So far this ycar industry sales in the Unitcd States have been even stronger than wc anticipated Ford said in re marks prcparcd for thc coinjxinys annual shareholders meeting Willi most important business indicators pointing toward continuing economic rccovcry we now expect that industry car sales will total about 112 million units while trtick sales are expected to reach new high of 38 million business About 90 per cent of Barrios downtown merchants are co operating with the Downtown Improvement Boards new uniform store hours Chris Iriisinowski promotion co chairman for the board said today Beginning this week the board has asked mcrchants to st ay open to 530 cvcry cvcning cxccpt Friday when the sug gcstcd closing time is pm The hours which are only suggested since the board has no enforcement authority are aimed at avoiding loss of customers who come downtown only to find large number of storcs closed Suggested closing hour will be 11 p111 luric and during the boards downtown mall with in closing lunc Fri day Dim lop St rcct will be clos cd from Mary to Simcoc westbound lane to Mulczistcri Hayfield Strcct from Simcoc to Collier and lappcrton Street from the Iivc Points to ollicr The mall will be broken at Maple Street to allow north south traffic to movc two day mall last ycar involving smallcr area proved onc of thc boards most pipulurprojccts ltcod lapcr Ltd rcports net loss of president said pulp paptn and Henry Ford ll citing strongerthancx Moving toward easier money government was being serious about trying to reduce inflation the bank rate was kept at record high of 95 per cent 11s unusual for the central bank to reduce thc bank ratc just when the government of Canada is in the midst of major borrowing On May the government announced $600 million flirtepart offering of Canada bonds to be issued May 15 The message therefore seems to be that this is time to add little more liquidity that is ready cash to the economic mixin other words to run the risk of added in flationary pressures in the hope that the economy will respond with healthier growth Such fine tuning in recent years hasnt been roaring success as the current state of the econornv shows However it probably wont do much harmapart from posing one more obstacle to the badly needed correction of inflation and return to price stability William Pickett president of American Motors Canada Ltd says hc is shocked at story in which industry analysts predict American Motors would likely abandon the lS car market bofore the next decade Pickett shown sitting on an AMC ircmliii past year says were not in bad shape in the passenger car business Photo Pickett says no way but insiders contend AMC to go out of cars DETROITAP American Motors Corp is losing its struggle to stay in the carmaking business with the Big Three The consensus among industry insiders and analysts interviewed by The Associated Press is that AMC is likely to abandon the North American car market before the decade is out That doesnt mean it will close its doors Rather AMC is expected to lop off its car operations so nonautomotive activi ties which now account for more than half its business can flourish AMC had been able to hang in the market as srnallcar specialist while the other US makers were building big cars But the energy crisis and federal fuel economy laws have made other manufacturers smallcar specialiststoo With superior financial rtsourcos General Motors Ford and Chrysler can outdo AMC with newer more innovative and more fuel efficient models AMC chairman Roy Chapin disputes suggestions his firm will drop out of the car market Were suffering but weve pulled through before he said We see greater op portunities in the 80s than ever before SALIIS DROP US car sales are off for third consecutive year to 64000 through Aprilless than half what they were in 1974 AMCs market share is under 18 per cent the smallest since the company was formed more than two decades ago Four imports are outselling has the largest share of the market through April 42 per cent The others are Datsun Volkswagen and Honda After losing $74 million in 1975 and 1976 AMC earned $37 million in the first half of fiscal 1977 thanks to profitable nonauto operations and the sale of stamping plant to AMC Toyota Volkswagen By contrast Big Three earnings in just the first three months of 1977 were $903 million for GM $483 million for Ford $75 million for Chrysler Analysts say AMC ultimately would have to revamp all its carsmake them smaller lighter more fuelefficient and fresher lookingto stay competitive AMCs plans through 1979 call for some restyling of its current models but nothing new AMC was born in 1954 out of the ashes of NashKelvinator and Hudson It almost died in infancy But in 1958 then company gresident George Romney took bold gamble bringing out compactsized Rambler when other firms were building cars bigger PLANT IN BRAMPTON Romneys gamble paid off handsomely AMCs market share which was mired at less than two per cent jumped to four per cent in 1958 Riding its inique reputation as the industrys smallcar speCiaiist AMLf held fivetosix per cent share until 1965 In the last 10 years AMC has been unable to get more than four per cent of the market due increased competition from other domestic compacts and subcompacts and lowpriced imports When AMC has invested in the last decade much of the money has gone toward ex pansion in the nonautomotive field In 1970 the firm picked up KaiserJeep AMCs brightest performer The next year AMC en tered the bLB postal vehicle and military truck business by forming AM General In recent years AMC has purchased an elec trical component company and lawn garden tractor maker In fiscal 1976 the firm had record sales of $23 billionhputtiiig it in the top 100 among in dustrial corporations Employment is 30000 with about half working at car plants in Mil waukee and Kenosha Wis and Brampton Ont