The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

on In Business For Business GSS ICE SUPPLIES LIGHTING 7 Georgetown Home Newspaper of Helton Hills Established 1806 FREE DISTRIBUTION WEDNESDAY JULY 18th 1990 32 PAGES Lawsuit before the courts Sale of Smith and Stone property contested ByBENDUMMETT The Herald The Georgetown based elec trical device company Smith and Stone is at the centre of a law suit that has been filed with the Ontario Supreme Court by Gordon Moore the former Secretary Treasurer of the firms parent company Hammond ing Mr Moore is protesting the sale of the Smith and Stone proper ty in Georgetown by Hammond Manufacturing to a numbered company Ontario Ltd This company of which Hammond Manufacturing Ltd owns 70 pa- cent leases the Glen Road proper ty to Smith and Stone The sale is detrimental to the minority shareholders of Ham mond Manufacturing and the company itself Mr Moore said in an interview Tuesday Smith and Stone president George refused to com ment on the law suit The president of Hammond Manufacturing Robert Hammond couldn be Residents protest asphalt plant If the Ontario Municipal Board allows Ontario Paving Company Limited to operate an asphalt plant located in the southern part of Halton Hills in no time another company will build an asphalt plant on the nearby 10 acre proper ty said Bernice of the Whaley Corners Residents Association Ms Whaley expressed her fear after the group appeared at an OMB hearing Thursday to argue against the cement company operating a plant on the north side of Regional Road 9 east of Highway 25 for a threeyear period The acre property is beside the Ontario Pavings site on Winston Churchill Boulevard If the OMB allows one plant in the area the door opens for a second one suggested Ms Whaley The OMB won make a decision on Ontario Pavings proposal for six to eight weeks it was announc ed Thursday The residents don object to new industry locating in their area outright explained Ms Whaley But they only support clean in dustry she said An asphalt plant will produce an awful smell she said But according to a planner for the town Glen Welllogs the pro posed asphalt plant Is state of the art That means the plant pro- l explained Mr Having regard for the tern nature of the proposal and the site plan and rehabilitation agreement staff is of the opinion that the proposal is compatible with the adjacent land uses said Mr The surrounding land uses are comprised of industrial property and storage space said Mr Well ings But Ms Whaley said there is no way of reducing the smell when the asphalt Is dumped from the hopper to the trucks The residents are also opposed to the increase in truck traffic that will result from the plant s operation she said The trucks will be running from am m Region has told the com pany it has to cover the expenses to reconstruct Regional Road 9 to reduce increased traffic tion Halton Hills council has already passed a bylaw allowing for the threeyear operation of the cement plant Carmen Alfano the company president guaranteed the company will not try to extend the plants operation beyond the threeyear period if the company receives an approval The plant is only there to service the construction of the down to the explained Mr Alfano The plant can be reached for comment before press time But he was quoted as saying in the June 29 issue of the Guelph Mercury the deal provided the company distinct tax and opera advantages The firms VicePresident of Finance John Anderson was also quoted as saying We are vigorously defending the action I can stand here with a clear cons cience and say all the interests of the shareholders were taken into account In our opinion the suit is really without grounds Mr Moore who owned 84 Hammond shares alleges if the numbered company turns around and sells the 14 3 acres sometime future the company minority shareholders will only receive 10 to per cent of the pro fits instead of per cent According to Mr Moore the complicated financial scheme works as follows The Hammond family owns per cent of Ham mond manufacturing and its sub sidiaries Minority shareholders hold per cent of the stock The Hammond family owns 70 per cent of the numbered company while minority shareholders own the re maining 30 per cent That means if the Smith and Stone property had not been sold to the numbered company the minority shareholders would have received 37 per cent of the profits of any future sale of the land to a nonowned Hammond company As it turns out any future sale will mean that the minority shareholders will only receive 37 per cent of 30 per cent or approx 10 per cent from the pro fits generated by a future sale Mr Moore who served as the chief financial officer from June 1978 until he was fired for un disclosed reasons in January was unable to say when the court will hear the suit The next step is to find other shareholders who might be in terested in joining the action said Mr Moore Norval Post Office under review Canada Post is about to begin a review of what should happen to the full service Post Office once Post Master Joan Carter retires in October said the Crown Corporation s manager of media relations Joyce Wells Monday Ms offer specifics about the options Canada Post is considering But she did say before any decision is made a public meeting will be held to determine the interests of those who use the service New Kids concert Tito jsjHiMI efts fee tfhufflffFd to frm Hawaii in Halton Hills The Georgetown Alliance Church located on the Line recently started its children summer camp which runs until the end of August every Sunday from 10 a m to noon Pictured above camp Knren shows Kemp left and Jenny Lola how to make their own Hawaiian lets The theme Is Ialand In the Son The camp la open to all children ranging in age from to 12 yean old Participants take part in a variety of activities Herald photo