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CH ae HA TE Mr IER 1A RS CIE LOU WA INTE Despite Councillors protests Durham Region will go to the U.S. market for a debenture issue for $5.6 million, despite protests from some Regional coun- cillors that it is unwise to "gamble" with taxpayers money. Durham council ratified the debenture sale last week at an interest rate of 16 per cent, which is 1.25 per cent lower than the "best rate available in Canada at the time. Despite a long explanation . from the Region's financial commissioner Jack Gartley who said that if the Canadian dollar does not go below 76 cents U.S., the Region will come out ahead because of the lower interest rate, some councillors felt the Canadian dollar is too unstable and they called the move a "gamble" with taxpayers money. Mr. Gartley told council the decision to place the debenture for sale in the U.S. was made on the advice of the Region's financial agent Wood Gundy Ltd., and if the Canadian dollar stays at 80 cents U.S. over the term of the 10,15, and 20 year issue, there would be a savings of about $900,000. The $5.6. million debenture is for three local adminis- - trations: $2.4 million will be for the Region directly; $2.6 million is for the city of Oshawa and the remainder is for the Durham Separate School Board. Several councillors were also upset that the debenture was negotiated about two weeks ago by Wood Gundy, acting on instructions from the council's finance committee. The approval by the full council last week was in fact, just a ratification. A representative from Wood Gundy told the council YS LB - Te > Ue 3 Ev LENA, / . RIAL BA TL 3 inSig . Cdn Logg aids AES ATP SONI ide gy alot i last week that to cancel the issue at this time would upset the two lenders in the United States and might hurt Durham's ability to borrow from those sources again in the future. Newcastle councillor Diane Hamre called the process "a farce", and Whitby councillor Tom Edwards angrily said that if Wood Gundy allowed the Region to get into a spot where the council could not change its mind on where to sell debentures, "then its time the Region found some new financial advisors." That remark prompted Scugog Mayor Jerry Taylor, who is vice-chairman of the finance committee, to defend the actions by Wood Gundy, -- OBITUARY -- Agnes Mabel Atkinson was born at Dollar, west of Don Mills, on October 2, 1886. She was the last of a family of five - Annie Elizabeth Milne, James Clark, Ethel Luella Fort Henry (From page 8) - The doorway led to another storeroom, now a lecture room for the tours. In the back corner, down 16 steps, is a dank, low passageway leading to a series of reverse fire chambers. Some of these chambers house small cannons, called carronades, which were little more than oversized shotguns, firing up to 32 golf ball sized pellets. The hole in the wall for the cannon to fire was large enough for a man to slip through. As the 9.5 metre (30 foot) stone walls of the ditch were unfinished, the climb wasn't difficult -- except there's a 3 metre (10 foot) drop under the reverse fire chambers. Montgomery fell in this "pit" and broke his leg. He was able to hobble off into the night, and with three companions managed to make it to the safety of American soil two days later. No visit to Old Fort Henry is ¢tomplete without taking in the evening "Retreats' ceremony, held on Wednesday and Saturday evenings throughout the summer. This is the only tinie all 110 members of the Guard perform movements and battle tactics from over a hundred years ago. The drills underline how rapidly styles of war have evolved -- the shoulder to shoulder ranks, so as to present a solid wall of defence against cavalry attacks, would be suicidal today. Even the cadence of the march is much slower, giving the progress of the infantry across the square a deliberate, ritualistic air. ter an announcement --- "You are aboyt to witness a battle" =the ritual is shattered a¥ the troops prepare for their confrontation with an imaginary enemy. The Armstrong guns are wheeled out, rifles loaded, and on command a smoky, bluster racket of shots and cannon blasts is unleashed. Through it alle the troops maintain the discipline of their formation. Above: the confusion thé captain of the Guard bellows his orders, and his loyal campaigners perform backwards and on-the-centre wheels, and other long forgotten battle movements. Watching this group of brightly garbed young men, onets glinting, moving as if of one mind, is both moving and eerie. It may be a 'universal truth that out of war "a terrible beauty is born." For more information on Canadian vacations contact the Canadian Government Office of Tourism, Ottawa, Canada KIA OH6. and Francis Howard. She trained for teaching at Toronto Model School and taught in Tory Hill, Vasey and Box Grove. Then she went to the Fingerboard School on the 2nd Concession of Mariposa near Pleasant Point. There she met and married Herbert Wilmer Eagleson, who farmed with his father and two brothers on the Miller farm south of Pleasant Point Church on Lake Scugog. Later they farmed on two farms in the Seagrave area, "the Snyder farm" south of thgvillage and later they-"purchased "the Butt farm" - later ° owned by Alvin Bruce, and now Mr. Puckrin. They farmed there until 1943, when they moved to the Village of Seagrave. After 25 years there, they spent a few years in Port Perry and then three years with their grand- son, Trevor, and his wife, Sharon, in Cambridge. They moved into Community Nursing Home, Port Perry, on July 12, 1975, and were .. together there until Herbert passed away February 21, 1977. "Mabel passed away peace- fully in her 96th year on July §.--- Service was at McDermott-Panabaker on July 10, 1982, at 11 a.m. . She leaves her daughter, Mrs. Marion Tristram, and her husband Bill of Scar- borough; three grandsons, Trevor Tristram and his wife Sharon of Cornwall, Glen of Bramalea and Wendy Ross of Scarborough and five great-grandchildren. Hers was .a full life of serving and the giving of herself to and for others. She was a dedicated church Worker wherever she worshipped. Her family and friends have many pleasant memories. Certainly we can hear God say, "Well done, good and faithful servant." Durham goes for U.S. bonds stating the agent made the negotiations on the instruction of the finance committee two weeks earlier. "If there is to be any criticism, it should be at the committee, rather than the agent," said Mayor Taylor. Mr. Gartley told the council that the debenture negotiations were made prior to ratification by the full council because the city of Oshawa needs its share of the loan now for construction of a new parking garage. Despite the protests, the ratification vote on the debenture issue carried by a wide margin of 22-6. During discussion on the issue of where to borrow money, Mr. Gartley told council that this year, the falling Canadian dollar has cost the Region about $200,000 extra in debenture re-payments from previous issues in the United States market. He added however, that in previous years, the Region has come out money ahead by borrowing in the States and these surpluses were put into an Amercian currency account for the purpose of re-paying U.S. loans when our dollar sinks to lows of 76 .or 77 cents as it did this year. ' , é a ¢ vomit ada dame bilas tii vind ferns w REY h 'fe ' AWN! i 8 £ PRL RAE | ' ' 4 Cw ' , . chaps i ll ERT TER SUNIL ATE NO Tx Bow. BX LAER eo RR Lp or ay - PORT PERRY {TAR -- Tucsday July 27, 1982 -- 9 $10,800 worth of Hereford cattle stolen from farm Twenty-four Hereford cattle with a value of $10,800 were stolen from the farm of Mr. Charles Ingwer of Lot 13, Concession 6, Port Perry. Police report the theft took place somewhere between July 15 and 25. The investiga- tion is continuing. BREAK AND ENTER . Police report a break, entry and theft at the home of Stanley Nadin of 25 Caleb Street, Port Perry between the hours of 10:30 p.m. on July 21 and 8:00 p.m. on July 22, 1982. A thief apparently made his way in the Nadin home by ripping-off a screen window. An antique black marble clock, jewellery box, and camera were taken for a total value of about $200. To date, police have no suspects, but the investiga- tion is continuing. BOATS DAMAGED A 24 foot cabin cruiser and a 14 foot fibre glass boat received over $1000 damage last Saturday night when a boat driven by Mr. R. Xeas Ae PY 3 --he pad Xe CRO CN GL) 5 (ON pj TICKETS . \£ » Tradition for over Royal ipizzan Stallions Renouff ran into a dock. The. accident, which happened about 2:15 a.m. on Saturday, knocked a board from the dock into the two boats causing the damage. Mr. Renouff was taken to Port Perry Hospital with minor "ne and released. 3 men injured in crash (From pagel) Port Perry Fire Depart- ment were called to the scene of the accident about 1:45 a.m. to release one of the injured parties with the Jaws of Life. They also transferred one of the drivers to Port Perry Hospital in the equipment van. Although there was no estimate of damage Monday, Police report damage to all three vehicles was extensive. if : » OTN orf WE \/ IX ¢ A Herrmann 7 eat IO" GY 300 vears ° ""'SPECIAL RETURN ENGAGEMENT" Sat., July 31 & Sun., AUG 1 Performances each day at 2:00 p.m. & 8:00 p.m. visnids COMMUNITY ARENA ALSO APPEARING TUESDAY, AUGUST 3 AT THE NEWMARKET COMMUNITY ARENA © AND SATURDAY, AUGUST 21 AT THE LINDSAY CENTRAL EXHIBITION GROUNDS. Ho BF gL Tre AGA be Uxbridge WS Performances Advance Lo tickets at J.B. Variety RC ROBY &> >> SPONSORED BY This Exciting Event Sponsored by the Family Eduction Association AUGUST 5-6-7-8 A= WEEKEND SCUGOG CHAMBER OF COMMERCE MRS 5 Yi ED PEGE 8 1k AEN Yaad AF LATTE rT