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_ Peas 16, The: eral; Fey Fabruary A, 1983

_ Margaret Mead’s

“Derek. ‘Freeman, )

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. (AP) — More than half, a | century ago, a young ‘bn- _ | thropologist wrote a por:

trait of easygoing life on a. ; tropical’ island, a paradise. of teenage love. ‘and! serene " tia

. “EDMONTON - (CP) — , Gerald McLaughlan and the

other: executives of the Cartadian Commercial _Bank have become ac-

_ customed fo overcoming ‘the .

odds. Last month, bank officials grilted their teeth and rolled

up their sleeves to cope with —

the possible adverse effects. when chairman and . chief executive officer, resigned “in thé aftermath. of the Ontario - government’ 8 seizure of the assets of three trust companies. Eaton, who had business

associations with Leonard © Rosenberg of Greymac.

Trust Co., left to remove any. hint of a connection between CCB and the scandal. ; McLaughlan, the bank’s 36-year-old president, says ‘depositors were concerned any, connection to the trust

company affair would have".

a damaging: influence, but ‘he's confident. that. by ‘working clesely with his

customers the whole mess .

will soon blow over..

McLaughlan has réason | for his faith in the survival - instinets of the six-year-old bank. For.a long time, even | - industry experts doubted -

the bank could survive. From an inauspicious

beginning with $11 million in. assets and only ‘six em-. ployees working out of an..

Edmoriton hotel room, the bank today has assets of §2 friplogeds ‘brid in Canada and

Thejrags-to- riches story is due mainly to the vision of

Torontonian William - - McDonald and Eaton. “They perceived a niche.

for a specialized bank in the Canadian. marketplace,”

says McLaughian. ‘In what -

we call the middle market — privately." owned businesses who would have borrowing requirements somewhere between $1 $15 million, essentially in the com- mercial ‘and industrial sector."

But industry observers felt

the middle ground was a. ' risky area and gave the

bank little: chance of. suc- “Phis country had been

* dominated for so many

years by a handful of banks, and the few upstarts had never done very well. There

were some people that said

in Canada’ you've .got to

offer the full spectrum of

services to make it." . ‘But . the. skeptics were _proved wrong, even though the bank. relied on word of mouth to‘attract customers.. The key was determining the weaknesses of the

LET US PUT OUTTHE MAT FOR Yay!

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"Tip Mast Fat Eee = te We!

Nancy Gourtie

Freee (438-7877

‘CAMBRIDGE, Mass, .

7 Canberra, : Mead’s.. _ Samoan: ‘eulture ‘ wis marked ' ther: a

Howard © Baton,:

developed a much closer

- NEW IN TOWN? 5)

a an COME Wy

professor ‘emeritus ‘of an- | thropology at the Australlan: National : University at

writes | ‘that portrayal. “of

y Taal. ‘errors and,

i en | - -" became a’classie and so dd: ming! its author "Margaret Mead... OM mae

‘competition and convinetag”

o ‘energetic young’ corporate -bankers | ‘to: Join’ CCB’ SS " eniise.:

A generous profit-sharing’ program was struck, loans officers. were assigned .25 clients instead of 150," and were given the authority to make spot. decisions ‘on applications.

“They were dealing with © less sophisticated businessmen, but they also

Moy ha

| 4

“BONDS WILL. AND CREDIT

major ‘work, Spe wai ‘2. at the’ time: She, _went ‘on: to. publish. almost two doxey ‘otherbooks, ..

| Mead died in’ 1978. yoen cn ae . oe Mead aa Samoa,’

:\Freeman’ 8.

“bond with their clients than. they would: in traditional circumstances,” ‘giilan says.) _ Staff was aiso encouraged to slay: in- one Joéation, ‘rather than. transferring.

from city. to city...

‘Clients were thrilled : ‘by: the. personal attention: and” the fact their loan “ap-. ; plications did not take | weeks. ‘to be. processed ; through. a bureaucratic

maze,

‘Our small business loan program is giving a LIFT _ |. .to the entire B.C. economy. . ._ [-- - Smalt businesses are the backbone of ~~ -- the B.C. economy. Together, they ~ employ more. people than any other ‘sector. That's why, in these economic fl: ‘times, the Government of B.C, has. ' - 4. . created the LIFT (Low Interest Funding Today). program. ‘It’s helping - B.C.’s small businesses i improve their ~

- business. And ‘that’s essential to the . economic recovery of « our Province.”

By doing something big | for small businesses, ‘we re | creating more jobs. ©

* LIFT financing goes to businesses that - can demonstrate growth potential, . strong Management, and job creation or | | preservation. LIFT makes j it it possible: a

The " are tag ‘Unmaking. we

‘Mead’ * aaugh Mary’ Catharine - Bateson, . an , anthropologist ° " specializing °. Lo in the Middle East'and dean * of faculty at'.Amherst:

College, sald she welcomed . ‘Freeman's a ‘study.

. simple. and. uncomplex; ‘ F gress fll’. ‘they.-are marked. by: par- of.

° a devout ‘Protestants wit : Freematiaaid he spent six a Campetitin ia iaherent ~ strong idéas about sin, gi ‘years ‘living : -anong' the “in - Sainoain « cagelety, ‘with | punishment -and sboiente _Saimdaiis in 1940-48 and 1985- contests of all. Kinds plus the "Child rearing shows the 68. and “other: “years ‘of- emotional - factors. “of attachment: “behavior * of 7 research in: the: field, ‘and: _ jealousy, : riva ry: ‘and - parent to child ‘as in: other | found “Samoan soclety and’: ci A st populations and-children . re: are! ‘alternately. indulged | id ‘punished. Peete ae a Adolesence 8 ‘anything ; “bul a rejaxed,: ‘untroubled: -

- cikure vere . by io! means:

tricacies: ‘and’. * bra’

was’. sulficlently . motivated... : + MeLau-,

. with an, ‘ overall. “industry.

is proof the middle“market - isno longer the risky. gicund:” im . it was once considered to b be.

‘corporate, we

. ee ta

yee time. Pollee records show a -

"But: ‘MeLaiughlan | an staff: ‘aren't. content back © and: sneer at 7 doomsayers’ ‘who ; now. re” ‘themselves in: finan ial: , trouble. ; . ool .

He says. ast year ’ ‘stat -

to build up the. bank's assets by!5 per- cent * ‘compared

average of four. per cents, _ MeLaughlan- beligves that ~ Thanext goal ié to take on qo the U.S. market. Presently, . ; there ‘are ‘four “American; >_.branches, but. ‘McLaughlan- vows that by the’énd of 1985, . 45. per ‘cent- of the. bank’s business will be. seiith of the . border. .

“Now il’s the very. large; world-séale accounts that: are.: in. financial trouble."".. .'- °

Y

“Serving Fine Foods 7 days a week” _ Breakfast. lunch and dinner. * 635-6302 .

gi MBER LODGE |

for qualified businesses to expand, ‘modernize, and compete more » effectively.in. international: markets. "= jobs imB.G; And a stronger, 1 more diverse economic, base. mo

AG program that finances “the futureina’ ~ businesslike way. |

“LIFT concentrates on small businesses in vital areas. of the economy: manufacturing : and processing; high

_ technology and ‘resource-related

* that will. Greate jobs now. and for the 7 - future.

~ accomplishing its objectives in a businesslike way. Its funding i is Being _created from ‘the sale of B. CG

7 ‘Development! Bonds. wo

- an

; SALE PERIOD enps MARCH 31, 1983, OR ‘AT THE DISCRET ION ‘OF THE MINISTER. OF FINANCE, . ; E AVAILABLE FROM. BANKS, INVESTMENT DEALERS, STOCK. BROKERS, TRUST C COMPANIES.

‘ TONS.. me THIS ANNOUNCEMENT 1s PUBLISHED SOLELY FOR INFORMATION...

-BCDI

_ AGUARANTEED INVESTMENT INOUR PROVINCE |

“That means more —- and more secure -

-. transportation. The kind of. businesses 7

What’ S more, the LIFT program is.

An investment in the

_ best interests of all . British Columbians. .

_ Every dollar you invest in B.C. Development Bonds goes to work for

- you twice. First, they’re a guaranteed.

‘investment that pays you.a good

_ return.Second, the money they raise ‘+ goes to work in the B.C. economy inthe — _-

form of loans to small businesses and help for new: housing z and employment

ae development i initiatives. And that’s in * the best'i interests of: all British

Columbians.. an Plus, every B. C, Development Bond i is”

_ unconditionally guaranteed by the © ' Province of British Columbia, making.

them one of the most secure

5 investments you can ‘Duy.

PROVINCE OF _ MINISTRY | OF see HON, "HUGH CURT!