Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 11, 1995, Winnipeg, Manitoba Winnipeg free press Philip 6977017 i i Thiessen Banks on Low Money costs by Vic Parsons Canadian press Ottawa Canadas Cen trial Bank is gambling that a Cut in interest rates will help Spur the Economy to faster growth in the second half of the Bank of Canadas trimming of a key lending rate this set the stage for what analysts expect to be Quarter Point cuts to Bank prime the prime rate for most institutions now stands at per cent but Canada Trust set the Ball rolling late yesterday by drop Ping its prime rate to eight per cent from others Are expected to the Central Bank is taking a with the promised que Bec referendum the Canadian Dollar is vulnerable and interest rate cuts could expose the loonie to attack in International slow Pace Bank of Canada minutes released this week suggest its Board was concerned about the slow Pace of economic growth fast food firms savor partnerships Canadian press Toronto if youre Han Kering after new York you might Check out a Wendy Tim Horton combination and if youve got a yen for Yougen Cruz Frozen head for a country style donuts you can order Church Fried Chicken at Many Harvey Burger or Lecoq roti Barbe Cue Chicken at a growing number of pizza Delight the culinary web of partnerships is part of a burgeoning trend in the fast food tap Ping into Well recognized Brand names to serve up More variety under one new Market the move to restaurant alliances was highlighted this week in one of the most High profile mergers to when Burger giant Wendy International announced it was swallowing Cana Das 1 doughnut Tim in a Deal Worth about based in has already flirted with Tim Hor tons in 13 combination restaurants set up in the past three these companies Are trying to come up with a concept they dont already have there creating a new Market for says Rosanna editor of food ser vice and a National Industry it Means getting More people into your establishment at a time of Day when you dont usually attract the teaming up of fast food chains has generated some unlikely new York Fries has copied up to a Wendy Tim Horton in and a Wendy pizza hut combo in Whit even though Wendy and new York Fries both serve up French so Wendy int says Jay president of the Toron to based company that owns the Chain of 101 new York Fries stores and which expects to ring up sales of million this i think were creating a bigger in another unusual Goulds company recently bought the Canadian master franchise rights to Fields which now has six outlets in Cana one Industry source expects to see Coffee such As based team up with Bagel chains in coming years marrying two of the More popular fast food other partnerships Are Blossom Yougen Cruz Frozen Yogurt is sold in about 100 country style donuts shops across the country and is slated to be in All 250 or so outlets in the next 18 says Michael president of Yougen Cruz worldwide of same roof Cara operations which runs Harvey and Swiss has put the two outlets under the same roof at 36 rather than invest ing million to build a separate the company saves up to an outlet under the twinning says Martin an executive Vic president at Toronto based As 85 of the 286 Harvey outlets serve Church and Cara considered Fields Cook ies among other new were constantly looking for new Peskin Toronto Dominion Centre limited notice of redemption to the holders of the guaranteed series due september 2003 the notice is hereby Given pursuant to the sinking fund provisions of the Trust indenture dated As of the 1st Day of 1983 Between Toronto Dominion Centre and the Royal Trust As under which the above notes were principal amount of the said notes have been drawn by lot for redemption in whole or in part As indicated below for sinking fund purposes and will be redeemed on september 1995 the redemption the following notes bearing the underrated distinguishing letters and numbers have been called in full m 0018088 for m 0018090 for m 0018091 for m 0018092 for m 0018093 for m 0018094 for m 0018095 for m 0018096 for m 0018097 for m 0018099 for m 0018101 for m 0018105 for m 0018107 for m 0018108 for the redemption Price of each note so drawn or of the proportionate amount of such note to be redeemed being 100 of the principal amount thereof or of such proportionate will be paid upon presentation and surrender of the note with a matured and the subsequent coupons if any attached at any Branch in Canada of the Toronto Dominion at the holders interest due on september on fully registered notes of which All or part thereof has been will be paid by mailed to the registered holders of the notes in the usual the principal portion will be paid upon with respect to notes of which a part Only of the principal amount is being the trustee upon receiving the said note from the Bank shall certify and without to the Bank for delivery to the Holder a note or notes of an aggregate principal amount equal to the unredeemed portion of the principal amount of the note or notes so and notice is further Given in the Case of any notes specified in this notice which Are not presented for redemption in whole or in part As above provided on the redemption Date above All interest or on the proportionate amount thereof to be shall cease to be payable from and after the redemption dated at Canada this 11th Day of by the Royal Trust company trustee by its administrative agent the pm Trust company to obtain not holders present their notes with a copy of this to the Bank or Financil institution with whom they normally Deal and who will in obtain payment from he Toronto Dominion these certificate numbers have been randomly selected by the in some please disregard the first Zero which precedes the actual number when it gathered at the end of governor Gordon Thiessen noted the Economy had grown less than expected and consumer enthusiasm was dampened by interest rate car sales and residential housing investment were and manufacturers were piling up inventor largely because sales were the last Straw May have been new housing figures wednesday revealing the lowest level of starts since the 1982 july starts were Down nearly 40 per cent from the rate in the same month a year the Bank wants to Send a Clear signal to the Economy that they support economic growth and the Best Way to do that is to lower interest economist Rob Palombi of mrs International said they Are clearly focused on the sluggish economic said the Banks thinking is that an expected rebound in the second half of the year will be modest and lower interest rates Are he Sherry chief economist with Nesbitt Burns says a Quarter Point Cut will not have a major Impact on it never its More psycho logical than anything else right but to the extent that we can get rates that risky move Cooper noted the housing Start figures were weak enough that the Central Bank can use that As an explanation of Why interest rates need to the Banks move is Cooper because of the dollars Vul but i r think its proven to be successful for the moment and it does make Palombi said theres some Dan Ger if rhetoric Over Quebec sovereignty gets out of but the Bank is betting the referendum is not going to set off a lot of volatility and that theres enough Confidence in financial markets that lower interest rates Are accept the question is is the focus on Domestic economic conditions or is it on the need to ensure and main Tain Confidence in Canadian Finan Cial markets said Palon Joe free press finishing touch Peter Thiessen supervisor of component finishing at Winnipeg Palliser takes a freshly finished Board out of the company s Fla line paint installed in May at a Cost of roughly the italian machine can Fin ish up to 900 Square feet per Day and takes 12 employees to the operation required 32 employees though none were Laid off when the new machine was downgrades spell bad news for insurers by Sandra Rubin Canadian press Toronto Standard and poors hit three major Canadian insurers with downgrades saying increased Competition especially from the Banks spells bad news for future Canada life and London life had their claims paying ability lowered to a plus from North Amer ican lifes rating slipped to a minus from theres probably going to be a pretty big Deal made out of these Standard and poors director David havens said from new but in the grand scheme of the Canadian insurance companies we rate Are at the same level or in Many cases higher than the ratings we have on most insurance we View the Canadian Market As being fundamentally very run for Money but Competition is expected to become fierce As Banks give insurers a run for their Money not just for insurance but also products like annuities and retirement in the past you used to go to insurance companies for your insurance or retirement for your rain Day youd put some Money in the said All those lines Are the Banks Are pressuring Ottawa to allow them full Access to the insurance regardless of whether the fed eral government dismantles the barriers Between Banks and insurance companies in 1997 con Sumers Are going to have Many More sources to go he and that expected to increase the Pace of havens said London life is seen As especially vulnerable to the weve renamed four of our companies to focus on their p better reflect the strength of our complementary Al construction capabilities for major projects while we continue to offer our customers direct Access to the specialized services Anil unique experience of each operating group the Agra construction group has renamed its four foundation and Marine construction to underscore the corporate strength of both the group and its these companies now proudly share the same first name Agra foundations limited formerly Western caissons Edmonton with offices in Winnipeg and Hegina Agra foundations formerly Frontier foundations Washington Agra foundations Pacific limited formerly Mcl pile Agra Marine construction limited formerly Hanlon construction the combined strength and experience of these four respected companies enable the Agra construction group to provide comprehensive contract design and engineering Agra construction is a specialist land and soil soil improvement and site remediation con As a member of Agra industries we can easily Access the International resources of our employees in 20 countries around the take a closer and see How this focus can Benefit your next the Agra construction group 7708 Wagner Alberta t6e 582 Tel 403 4683392 fax 403 4667465 Agra changes because its business is concentrated in London spokesman George Seteroff said the company has 14 per cent of the individual life insurance Market in Mak ing it the largest by but expects to maintain that Standard and poors have made an interpretation of the Market and Treyve adjusted our ratings in he said from head office in we dont agree with in not going to get into a thrash with them but we just feel we will continue to outperform the Market no matter what the competitive stumbling shoe firms Cut us profits a stumbling shoe Indus try Cost United Canadian shares five per cent in second Quarter profits but it was not enough to stamp out a 50 per cent gain for the first half of the Winnipeg based tanning company reported that for the Sec Ond net income was Down from for the same period of for the first six net income was up from the shoe Industry continued to Lack vigor and leaving tanners gloomily below president Conrad Riley said in his sales Rose for both time periods totalling million for the Sec Ond Quarter and million for the Riley said the economic Outlook is unclear but he was optimistic that flexibility in dealing with Cus Tomer requirements would Bode Well for second half Riley also announced dividends to shareholders would Rise to 15 cents per share from ;