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Middleman faces stock market risk THFHERALD Wrdaeid Bringing Hocks and bonds to market become a dangerous business for the middlemen Stockbrokers and Investment dealers are losing hundreds of of dollars Investment dealers buy new Issues of a company stocks or bonds to sell to their clients who may be bis financial institutions in vestment funds or people like you and me The dealers expect to do this at a profit Since the October stock market crash profits from this business have been hard to come by Each day brings another report of how much the dealers are suffering One deal alone British Petroleum has eaten up a big chunk of the capital of three Canadian dealers prompting people to wonder bow healthy Ihey are HP BOMB The ssue could cost Wood Gundy up to million before tax It could cost Dominion Securities and MeLcod Young Weir that much between the two oi them How much the companies lose depends on how much the slock price falls over the next month or so In the United States too the issue bit a big chunk out of the capital of Salomon Brothers Goldman Sachs and Shearson Lehman To gel the dealers to go through with the deal the British govern agreed to step in and buy the stock if it fell to a certain price This could happen The British government owned in the first place It add the com to the public to raise money Now It may have to turn around and buy it back again Your Business So it no wonder that when the people who plan to build a tunnel under English Cltanncl came looking for money the Canadian dealers turned thumbs down Wood Gundy Dominion Sccuriiles and Young Weir determined that Canadian Investors were not eager to sink their money into a hole In the ground no how glamorous or historic the project This is not the builders of the Eurotunnel expected In September Morton cochairman of the builders group said the tunnel was ghtupourollev This Is the sort of ng Canadian investors will understand he said This Is because of our experience with pipelines property develop ment and mining or Just holes In the ground he added His theory It seems was full of holes This crisis In he market is more serious than meets the eye When brokers are left holding the bag of unwanted stock it is just a matter of time before bankers are left holding a bag of bad loans to If the stock market plunges again the world financial system apart In the end central bankers hence government could be forced to bail everyone out with our money STOCK KEEPS COMING Yet the stock keeps coming in Japan the country telephone com pany dumped of dollars of new stock on the market In Tokyo LI KaShing the Hong tycoon who is taking Canada by storm dumped nearly billion of new stock on the jittery Hong Kong market Hong Kong bankers are no doubt worried They could force the brokers to dump the shares on the market to get the money to repay their loans If this happens the share prices will Tall even further It vicious circle The financial panic of and the depression that followed was spark ed by the collapse of a relatively small bank In Austria How could such a remote event cause so much trouble In North America The world financial system is built on confidence Thats why seeming small events In faraway lands can hurt us too This time though the trouble could flare up right here in Canada Bankers brokers and politicians ore holding their collective breath hoping the stock market t go Into another free fall HALTONPEEL STEAMATIC llll Patented controlled heat cleaning lor carpeti Cleaning of upholstery your home Protects your carpet and upholstery Investment Convenient quick drying stays cleaner longer Free Estimates Resident District office 26 Main St Acton L7J1W6 Call Dave Paplllon or Don Perry 8534451 Brampton Dave ta valid A VIDEO BEAT Tuning to rock Ann Rockers make film cameos By Ann Vare Nov new kits were Into 2nd Georgetown Braver at St George Anglican Church Shown here front row left to right are John Paul Zenl Cameron Terry Baker Michael Back row Cameron Ken Thompson Ryan Michael Christopher Benjamin Photo submitted Nell Young as a truck driver Rlc Ocasck as an auto mechanic Tom Petty as a card shark That what you ll sec in Alan Rudolph new film Made in Heaven starring Timothy Hutton and Kelly McGHIis The reason we cast them In the film was to make the audience pay more attention to certain says Rudolph Each of these guys adds a dimension to their character Each of these guys also happens to be a friend of the director who has been Involved with film music in ear ller efforts like Roadie and Songwriter Neil Young adds a third dimension to Made Heaven a romantic film fantasy He contributed such song classics as I Am a Child and Mr Soul to the sound track along with his effort the movie theme song We ve Never Danced Performed by former Motels front woman Martha Davis We ve Never Danced Is a surefire chart topper The video us ing as It will the stunning visuals of Rudolph Jan K lesser promises to be a Speaking of rockers on film rythmics Annie Lennox and Dave Stewart along with Stewart wife Slobhan Fahey of are set to appear In The Golem A supernatural thriller The Golem will feature Lennox in the title role according to Jewish legend a golem Is a being artificially created by rites Mr Stewart is cast as a vagabond and the veddy British Mrs Stewart as a rabbi daughter DOMINION SEED HOUSE COUNTRY GARDEN CENTRE at Maple Ave Georgetown From England- EropafYSwfMoftfiaWoridsBert SaMng Gardening Books Wk HOUSE PLANT EXPERT AND HOUSE PLANT SPOTTER The finest books wo Ml seen on these subjects f99 Bring In This Ad and Save A on tht Sbgfc Copy or in Additional on H Your HouM Plants to Atmosphere PLANT MISTERS ml Capacity Regular Sale ENGLISH GARDEN TOOLS SHEFFIELD PRIDE Spades Forks Rakes Cultivator Hand Trowel Fork Finest quality tools for the avid Gardener on Your Christmas list SELECTION OF HOUSE PLANT SEEDS Including Banana Cotton Coffee Passion Vine and many others from our extensive catalogue listings STORE HOURS Thura a 00 p Friday 900am m Saturday a m Sale prices effective until closing Saturday Nov 7th NOVEMBER 30th GRAND OPENING OF HIGHLIGHTS HAIR and SKIN CARE UNDER NEW MANAGEMENT fl DISCOUNT OFF REG PRICE ONLY 0 FOR STUDENTS AND SENIORS HIGHLIGHTS hah skin care 130 Guelph St Georgetown Beside criterion Cerpot 8772151 Chequing account completely free of any char Students from 712 will receive a free Student Saver TShirt Students from 1318 will receive a free Credit Union Fnsbee TO QUALIFY Must be from aae to 1 8 Must be able to si hisher name in writin Must be a fulltime student There are absolutely no charges We simolv pa you to kee your money with us Dont dela Catch a winner today GEORGETOWN St 8776926 Deposits are fully Insured to 60 000 by the Ontario Share and Deposit Insurance Corporation