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Co. argues tax bill
while profits rocket

MacMillan, Bloedel & Powell
River Ltd. is trying to wriggle
out of paying an eight and one-
half million dollar tax bill pre-
Sented to it by the provincial
government, Theargument arises
Out of a large purchase of choice
timber made by MB&PR last
December,

The purchase involves 39,826
acres of land lying between the
Alberni and Cowichan Valleys on
Vancouver Island which the lum-
ber monopoly obtained from the
Esquimalt & Nanaimo Railway.
The provincial government has
assessed the land at a value of
$34,167,939,

Hearings on the appeal by Mac-
Powell will begin in the Victoria
Law Courts at 10 a.m, on De-
cember 6, before a three man
court of revision, Heading the
three man board is Victoria
lawyer Allan Baker, Other mem-
bers include Victoria realtor

Demand rises for
B.C. Tel. takeover

Most observers expect the
Coming session (in January) of
the B.C. Legislature will see
Stepped-up demands for nationa-
lizing the B,C, Telephone mon-
Opoly,

Last week, the Powell River
Municipal council voted to op-
Pose a 12} percent increase in
Phone rates sought by the com-
Pany, At least one councillor,
Jimmy Court, suggested a gov-
ernment takeover would be in
Order if the monopoly persisted
in its greedy attitude,

L. E. Pope and retired Briga-
dier D, R. Sargent of Nanaimo,

At stake in the appeal is an
amount running into many mil-
lions of dollars—much more, in-
fact, than the $8.5 million the
government saysis already owing

to it,

If the assessed value of the land
is true andaccurate, Mac- Powell
will have to pay a further $2
million this year and every year
for its shares of school and
services tax which the govern-
ment normally collects from un-
organized territories,

Also, this parcel is only one
of three purchased at the same
time from the E&N, Crown Zel-
lerbach owns the second parcel
and the third is jointly owned by
both lumber monopolies.

Obviously, any ruling affect-
ing the assessed value of the first
parcel would set a precedent on
the other two, Should the court of
revision decide to lower the

assessment for example, the lost’

revenue could runinto millions of
dollars,

The announcement by Mac-
Powell that it is appealing the
assessment followed closely on
the heels of publication of the
company’s profit picture for the
first nine months of 1965,

According to the company’s
own figures, net profits stood at
$31,237,821 at the end of Sep-
tember, up $700,000 over the
same period last year. Net profits
rose almost 10 percent in the
third quarter and chairman of the
board J. V. Clyne was reported
to have stated that ‘¢prospects
for the balance of the year ap-

“pear to be good.’’

RAW A ASA AS ASRS

i

_1T’S THAT TIME AGAIN!

POINT GREY BAZAAR#

thes

4590 WEST 3rd AVE.

— XMAS GIFTS ——
UNUSUAL, ARTISTIC, REASONABLE

DEC. 3rd - - 7:30 P.M.
DEC. 4th - - 1:30 P.M.

Everyone Welcome

SERA AAS ASRS AS

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*

Every

must

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sub

up for

renewal

be

picked up
NOW!

1,130 SUBS IN

We still need
2/0 more

ONLY 2 WEEKS TOGO

SUB DRIVE RESULTS

GREATER VANCOUVER VANCOUVER ISLAND
CLUB SUBS PAPER SALES CLUB SUBS PAPER SALES
Quota] Achiev.| Quota]Achiev, Quota] Achiev| Quota petra
Bill B s Alberni 30 15 | 25 =
seedy a a 4 : Campbell River 15 14-15 it:
es ee ae
eorgia 3 5 = :
Kingwoy = 70/37/10 11 [Vcore = _ so] 18] 20 | te
ae... as —
Olgin 10 a 1e2 yi Totals 210} 114 J115 90
Point Grey 35 11 10 4 DEWDNEY
Vanc. East 120 81 | 40 89 | Hane "2
: y-Map.-Rg. 20 1
South Vance. 50 30 | 20 1 Mission ae 10 iC ; :
Victory Square 40 17 | 10 6 Totals 30 5 37
West End 20 1 7 4 38 Bi
North Burnaby 60 36 | 10 8 5 OKANAGAN
Edmonds 25 9115 — | Kamloops 15 12 “ig 1
North Shore 60 48. Jigs 2 Noteaailll te 6
City Misc. 10M 9 321900. lazie gone 20-4 134.7 oo
Totals 670 | 374 [285 | 224 Totals 51] 32 | 14 13,
: DELTA
PROVINCIAL GENERAL Coquitlam poe fee ke $2 =
Ft. =
Fernie-Michel 10 6 3 _ Se a 4 : ¥
Powell River 25 21 5 New West. 45 - a 10°
ee gs ee ee
Trail Rossland «= 45| 14] 5 | 6 | Total 185 | 106. | 63 | 34
coratpat 0d fe 3} Prov. Totals 641 Pr nige REE
oe ue 35 = E) 3 City Totals az) 285 | 224
otals 165} 98 | 23 12 Gr'd Totals 1301 | 754 [510 | 377.

December 3, 1965—PACIFIC TRIBUNE—Page 1