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the HERALD Grits campaign a bit ritzy A Division of Canadian Newspapers Company Limited Guelph Street Georgetown L7G 3Z6 Ontario DAVID A BEATTIE Publisher and General Manager BRIAN MacLEOD DAN TAYLOR Editor Advertising Manager 8772201 Page 6- THE HERALD Wednesday September Big changes The big changes announced for the Georgetown and District Memorial Hospital by Graeme Goebelle on Friday are welcome indeed Since the Bennett Health Care Centre was constructed in the Georgetown hospital board has been attempting to figure out ways to wipe out that million debt and still accomplish the goal of establishing a chronic care facility on the site Fridays announcement has taken care of both those goals The Georgetown hospital will merge with the Bennett Health Care Centre to operate as one corporate entity The current health care centre will be turned into a chronic care centre and it will be reduced to 36 beds from beds over time No one will be displaced from the centre and residents there now should actually receive an increased level of service under the chronic care designation A 57bed nursing home will be constructed on the site and a 30bed retirement home will continue to operate in its current fashion The announcement means Hills will have a full range of emergency and longterm care at one site Its a remarkable achievement for a hospital which has seen some rough times in recent years The deal itself seems almost too good to be true But hospital executive director Mark Rochon and hospital board chairman Graeme Goebelle assure us that the deal is secure and we have to accept their judgement that the future of the hospital is much brighter than it was just a few short months ago The deal which includes a million operating budget increase for the hospital shows that the ministry of health has confidence in the hospital and those who work there This arrangement couldnt have been struck without that confidence Soon the hospital will appeal to the community for help in efforts to help eliminate a portion of that million debt Judging from the way Hills citizens responded to calls from the civic centre for funds were also confident the future of the hospital is bright Fairly good MM Editors Notebook Anywhere between 16000 and 19000 people poured through the gates at the Georgetown Fall Fair this past weekend With so many highlight acts on Sunday its not surprising that fair secretary- treasurer Bob reports that attendance on Sunday was higher than Saturdays figures Sunday featured the Lincoln the world champion Dutch champions the farm won by the Lions Air Fantasy a quite incredible trampoline act and colorful to boot and the Sphere Clown Band On Saturday the big attraction was the Canadian Tire stunt drivers The stunt drivers kicked oft the show with the announce ment that people should slay back from because someone in the United States last weekend had a heart attack while he was driving on two wheels during a stunt show and ploughed into the crowd hitting people The attendance figures topped last years fair by at least 1000 people said Mr And Wilbur the Purple Pig seems to be quite the attraction People came all the way from Port Perry and Bowmanville to see Wilbur Mr Malcolmson reported He hinted that Wilbur may even have to raise a family one day It was the advertising CFGM radio that brought in people from out of town said Mr Malcolmson The fair seems to be gaining in terest in outlying areas with at tractions like Wilbur But a fami ly And the fair is still true to its agricultural roots The heavy- horse show is the largest oneday heavyhorse show in the district said Mr Malcolmson A team of horses from Carson Farms in and Farms in were at the fair The teams use the Georgetown fair as warmups for a fair in Washington and the Royal Winter Fair he said Next year the layout of the fairgrounds may be changed slightly o allow some exhibits which arent in the limelight now more exposure Mr said Well at least Liberal MP War ren Allmand is going to do something about it There are quite a number of peo ple who feel the Liberal party was thinking a bit ritzy when it decided that leadership candidates to replace John Turner should each be allowed to spend up to million Its not that Grit can didates should be expected to im itate the New Democrats and limit individual campaigns to but 7 million plus a series of ex penses or perks that dont have to be included seems just a bit on the high side So high in fact that it pretty well guarantees the job to those in high financial places or those with friends in high financial places At the moment we can think only of Jean Chretien and Paul Martin Jr although Toronto MP Dennis Mills is not exactly a hardship case Mr Allmand a veteran Mon treal MP is furious and hes simp- After all the bad economic news we have been reading lately you may be looking for ways to invest your money safely and profitably Your choices are manifold If you have money parked in bank deposits or Canada Savings Bonds you might consider shifting to Government of Canada treasury bills for example Many CSB holders have already done so and the reasons are obvious Tbills have a much higher return than To get a really good rate on treasury bills you need at least But you can get a reasonably good rate from your local bank branch with as little as Stockbrokers may sell treasury bills to people with even less money to invest If you have 100000 you can ly not going to take it anymore I have come to the conclusion that I will not support any candidate who agrees with this limit or who plans to exceed a limit of and I will urge as many Liberals as possible to take the same ap proach Furthermore I intend to introduce a motion of censure at all upcoming Liberal conventions condemning the executive and all those who approve this limit This could prove somewhat em for the party since sup porters of less wealthy candidates will probably stand to cheer these motions of censure At a recent Liberal caucus in the northern town of Iqaluit members recommended a ceiling of approx imately OTHER BENEFITS But the highceiling limit is not without benefits to the cash- strapped Liberal party reported to be some billion in debt What contributors to leadership can didates can do is make their dona tions to the Liberal party which in turn will hand the money over to the designated candidate Legally this is a donation to a political party which means its tax deductible What the party does with the money is of no par ticular concern to Revenue Canada The party will also levy a 20percent commission on all cam paign expenses over And oh yes there will also be a fiveper cent commission skimmed off all donations even of the variety choose from a number of safe secure snortterm securities As well as Tbills you can buy com mercial paper issued by federal government agencies such as the Export Development Corp Or you can buy bankers acceptances shortterm notes issued by banks and backed by their own credit People who can tolerate some risk can buy highquality commer cial paper issued by big com panies All of these instruments trade on what is known as the wholesale money market a market populated by big investors and financial institutions RATES GOOD Rates on the money market vary from day to day so we called the Toronto Dominion Bank for some examples Notes and bills are sold at all TD branches across the country As with term deposits the more money you have to invest the bet ter your return will A person with for example cannot get a competitive return on three- months treasury bills from a bank But could get you per cent on sixmonths and per cent for bills maturing in one year A person with 100000 by com parison could get 11 per for three months and per cent for one year So with any luck it could prove to be an effective debtreduction exercise for the party Incidentally this scheme kicks in only after the campaign has been officially announced Both Mr Chretien and Mr Martin have been whizzing across the country all summer meeting thousands of Liberals and eating tons of rubber chicken but they are not leader ship candidates As far as Liberal party accountants are concerned these two men could be holding religious revival meetings Believe us they are not Incidentally none of the money being donated directly to NDP leadership hopefuls is tax deducti ble But the party is financing the national tour of candidates and this money will have received the nor mal tax break LAVISH Were obviously in for a lavish windup when Liberal delegates gather in Calgary next June to pick up a new leader It is estimated that up to a third of all campaign spending is done in the final week as spectacular parties and recep tions are thrown tor delegates par ticularly those of the wavering variety Granted the spending ceil ing seems somewhat low even for a party that has traditionally relied on volunteer workers and is less inclined toward costly social gatherings blaring bands and all the trappings weve come to expect from the Grits and Tories That compares with per cent for CSBs and per cent for three- months term deposits HIGHYIELD PAPER Wading further into the money market investors with at least could earn 118 per cent on oneyear governmentbacked com- paper issued by Crown corporations per cent for bankers acceptances and per cent for highquality commercial paper Commercial paper is back- ed by the credit of the issuing pany You may have noticed that these yields are well below the numbers we read in the newspaper At last Thursdays treasury bill auction for example threemonths bills yielded This is the wholesale rate the rate that banks pay when they buy the bills They mark up the price to cover the cost of selling them to small investors and perhaps make a bit on the deal as well One of the nice things about treasury bills is that you can buy them to mature whenever you like You can arrange for them to mature Nov l in time to buy Canada Savings Bonds If you dont like the rate on the new bonds you can reinvest the money in TbiJls for whatever term You can still invest safely