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1 The Canadian Statesman, Bowmanville, June 29,1983 Section Two Celebrates Her First Birthday July 4,1983 - Durham East 4- H Farm Safety Club, Ministry of Agriculture and Food Boardroom, Bowmanville, starting at 8:00 p.m. July 5,1983 - Durham East 4- H Livestock Evaluation Meeting Meeting at the farm of Frank Barkey, Blackstock at 8:00 p.m. July 5 - 7 - 4-H Regional Conference for 15 year olds, Trent University. July 7 - Durham County Cattlemen's Cattlemen's Barbeque, Brownsville Brownsville Community Centre, Newcastle 6:00 Social and 6:30 p.m. B.B.Q. July 7 - Durham East 4-H Youth Leaders Club meeting at the Ministry of Agriculture and Food Office, Bowmanville Bowmanville at8:00p.m. July 12 - Durham East 4-H Judging Workshop at the farm of Don Welsh, R.R. 4, Bowmanville at 7:30 p.m. July 12 -14 - Durham East Soil and Crop Improvement Assoc. Bus Trip to the Counties Counties of Huron, Bruce and Gray. Leaving Orono Co-op at 6:15 a.m. July 15 - Durham East 4-H Judging Competition at Black- stock Recreation Centre at Museum Says Thanks Hie season is not half over, but Bowmanville Museum already has a list of people who have been active in helping the museum in this year of special activities; and we are taking this opportunity to express our thanks to them. For their part in the Fashion 'Show, we want to thank Donalda Creasser and Olive Hull who loaned us some costumes and accessories, and the Canadian Automotive Museum for lending an antique car complete with a model driver ana his bag of golf clubs. For "Stinky Sneaker Day" our thanks go to Stedman's who donated the prize for the stinkiest - a new pair of non- smelly sneakers; and to Vanstone's Mill for supplying the sacks for the old time sack race. For makihg our first open- air concert such a success, we thank the musicians of the Senior Public School Band, and their leader John Leith - they brought us the first really good Sunday weather of the year, and filled the afternoon with two full hours of music. Our sincere appreciation goes to Hon. Allan Lawrence M.P. and Sam Cureatz M.P.P. who continue to support our efforts by- attending most of oiir special events. And, finally we wish to thank The Canadian Statesman Statesman for the great coverage the Museum has enjoyed all Spring for all our .special events, and for the excellent pictures of the museum which appeared on the second page early in the year. BUSINESS DIRECTORY Accountancy Chiropractic G. EDWIN MANN, D.C. Chiropractor Office: 15 Elgin Street Corner ol Horsey Street Phone 623-5509 Office Hours: By appointment WILLIAM C. HALL B. Comm. Chartered Accountant 35 King St. W„ Newcastle Telephone 987-4240. WM. J.H. COGGINS Chartered Accountant 115 Liberty Street South Bowrqanvllle Phone 623-3612' JOHN MANUEL, C.G.A. 118 King St. East, Suite 2 623-6555 WINTERS, SUTHERLAND 4 MOASE Chartered Accountants 23 Silver SI., Bowmanville 623-9461 49 Division St., Oshawa 579-5659 9:00a.m. July 15 and 16 - Sheep Focus, Markham Fairgrounds. July 18 - Durham East 4-H Farm Safety Club will meet in the Ministry of Agriculture and Food Boardroom, Bowmanville at 8:00 p.m. July 19 - Durham East 4-H Poultry Club will meet at the farm of Stephen McHolm's, Port Hope at 8:00 p ,m. July 20 - Holstein Club Twilight Twilight Meeting at the farm of Eric Bowman, Enniskillen. July 21 - Northumberland - Durham Apple Growers Summer Tour at the farm of Jack Vanderwindt, Welcome area. July 21 - East Central Holstein Tier II Judging Conference, Conference, Farm of Hanover Bill Holsteins, Port Perry. July 21 - Durham East 4-H Beef Club Meeting at the farm of Mike Ormiston, Courtice at 8:00 p.m. July 22 - Durham East Soil and Crop Car Tour - Port Hope area. July 22 - Durham East 4-H Bus Trip to Canada's Wonderland Wonderland leaving Manvers Community Centre at 8:20 a.m. and the Ministry of Agriculture Agriculture and Food office in Bowmanville at 8:45 a.m. July 25 - Show Preparation Day for Durham East 4-H Dairy Club at the farm of Frank Barkey, Blackstock at 10:00a.m. July 26 - Durham East 4-H Members' Council Meeting at the -Ministry of Agriculture and Food office at 8:00 p.m. July 27 - Durham East 4-H Farm Machinery Club Meeting at th.e farm of Gordon Barrie, Bowmanville at 8:00 p.rp. July 28 - Durham East 4-H Leadership Club Social Recreation Recreation Night at the farm of Gerald Brown and family, Newcastle. Dental PATRICK G.DEEGaN DENTURETHERAPY PUNIC 5 George St. 623-4473 Office Hours: Mon., Tues., Wed., Ihurs. 8:30-5:00 Friday 8:30-noon CERTIFIED FOOT REFLEXOLOGIST Cheryl Frlede 270 King St. East, Bowmanville 623-4004 LEONARD JAY, B.Sc., D.C. Doctor ol Chiropractic 96 Queen Street Bowmanville Phone 623-9297 JOHNW. HAWRYLAK, D.C., F.C.C.R. Doctor ol Chiropractic Certilied Roentgenologist Nutritional Counselling 270 King St. E. Bowmanville 623-4004 LAURENCE A. GREY Doctor ol Chiropractic 306 King SI. West Oshawa L1J2J9 Phone 433-1500 Naturopathic Medicine DR. LAURENCE A. GREY N.D. Nutrition, homeopathic and botanical medicine; Colonic therapy & acupuncture 306 King St. West Oshawa L1J2J9 Phono 433-1500 Bigger Pictures Plus Fast Accurate Service FREE! 5x7 Enlargement wlm every Û41-TIU 126-135 film orocesRAd INSTANT PASSPORT PHOTOS UbMAWA CAMERA CENTRE L]D. 7£8-4631 CENTRE (AGnosa rnoM mu PHONE CENTRE) DURHAM AGRICULTURAL MEWS By John E. Finlay, Agricultural Representative LEASING VS. BUYING FARM MACHINERY Many companies now offer programs to lease farm machinery. Interest is quite low in this method of financing in Central Ontario. However, there are two reasons farmers may be looking at this alternative. An individual farmer will first of all have made the decision that a new piece of equipment is economically justifiable. The size of operation must be large enough that fixed costs are spread over enough acreage or hours to lower the per unit costs below that charged by custom operators. One group of farmers that may be interested in leasing are those that are highly levered. The cash flow and debt repayment capacity may not handle the large down payment and the payments required during the first production production season in order to purchase a ipachine. It is important to understand that machinery companies are looking at recouping the full" price of the machine when figuring out lease payments - they are subject to similar costs as farmers - they will be including a fee for administration administration of the lease and will also be absorbing some additional risk. Generally, leasing costs are higher than payments on loans and may reduce net income. Most leases are straight lease propositions with no buyback buyback provisions. Revenue Canada will not accept buyback buyback leases, and will re-assess them as blended payments of principal and interest. The principal portion could then be deducted through capital cost allowance, ana the balance allowed as interest expense each year. The highly levered farmer may find the lease as difficult to negotiate as the loan from a bank. The bank affiliated leasing company wants a good track record of machinery maintenance, an acceptable level of equity and a cash flow projection that will provide sufficient funds to cover the lease payments. Another important consideration consideration for the leasing alternative is tax management. The objective is minimizing the net cost of the machinery by assessing the tax implications. The timing of payments either for lease or ownership is critical, because a dollar flowing out two years from now is a much lower cost than a dollar flowing out at present. The decision involves subtracting the tax savings from the actual payments to develop a net cash cost for each year. A discount rate is then chosen to convert all values to net present value figures. The option with the lowest net. present value is selected. Evaluation could be made as follows: Usually leases are for three to five year periods. Ownership Principal and Interest Payments Payments - Personal Income Tax Rate (allowable Capital Cost Allowance plus Interest Payable) - Investment Tax Credit (77 per cent of Purchase Price) equals Net Cash Cost. Lease Lease Payments - Income Tax Rate (Lease Payment) equals Net Cash Cost. Values generated for each year are then discounted by an appropriate value to represent the alternate use available for cash. (Approximately 10 per cent at present.) The total net present value of the lease option costs can then be compared with the total net present value of the ownership option costs. The lower of the two should be selected. An assumption can be made that the machine will be worth the same market value at the end no matter which option is selected. If the machine is worth less than the remaining capital cost allowance, then a capital loss has been suffered with ownership. If the machinery company will sell the machine at a much discounted price after the lease is over, a possible capital gain can be realized. Generally, the higher the interest rate, the ny>re favorable leasing becomes. Each individual farm situation, particularly as it relates to tax position will generate different figures and different" management decisions concerning machinery ownership. Hi! My name is Nicole Anne Millson. I am celebrating my first birthday on June 22,1983. My proud Daddy and Mommy are Dale andSandy. Helping me celebrate my birthday are my proud grandparents Mr. and Mrs. John Sinclair and Mr. and Mrs. Gordon Millson, all of Newcastle. My great grandparents grandparents are Mrs. Vera Dennis of Toronto, Mr. and Mrs. Joe Brown of Newcastle, Newcastle, Mrs. Leverne Taylor and Mr. and Mrs. Alfred Millson, all of Tyrone. My great great grandmothers are Mrs. Alice Curson of Marnwood Nursing Home and Mrs. Vera Millson of Strathaven Nursing Home. DURHAM AGRICULTURAL CALENDAR GRAHAM'S IGA Maple Lodge Chicken Wieners Mary Miles Becon Canada No. 1 Produced U.S.A. Lerge Floride Tomeloes 454g.59 500gpkg.1-.49 .79 Red or White New Poteloes Major Treat Ice Creem All Brands Cigarettes All Flavours Carlton-Club Canned Pop 2 litre .19,, .1.19 11.99 c. 3.99 c ls STORE HOURS Mon.-Tue8.-Wed.-Sat. 9-6 Thurs. & Frl. 9-9 OPEN SUNDAY 10-5 WE DELIVER TELEPHONE 623-4161 afhome or CHECK YOUR LOCAL IGA dm"/ FOR HOLIDAY STORE HOURS away shop ASSORTED FLAVORS, SUN SQUEEZE TABLE JOY, 46-FL OZ. TIN REGULAR OR SUGAR FREE SPRITE, , n iunot REGULAR OR CAFFEINE FREE TAS COU, ASSORTED FLAVOro m COKE OR REGULAR 4L»-- Jb. - OR CAFFEINE FREE PRODUCT OF U.S.A., CANADA NO. 1 GRADE, Large Cauliflower .1.49 PRODUCT OF USA, Sunkist I SIZE EEl m PRODUCT OF U.SA CANADA NO. 1 GRADE, EMPEROR VARIETY Red Grapes PRODUCT OF SOUTH AFRICA, CANADA FANCY GRADE Granny Smith Apples 1.96/», .89, PRODUCT OF U.SA, CANADA NO, 1 GRADE aa Fresh Blueberries ft. 1.99 PRODUCT OF ONTARIO OR U.SA, - ». Zucchini 1-30fh, Squash .59,. PRODUCT OF ONTARIO A aa Bunch Radish # 2 for .00 SS#3-a99 2-1. PRODUCT OF ONTARIO OR U.SA, CANADA NO. 1 GRADE Cucumbers PRODUCT OF U.SA Fresh Limes 7 fo \99 PRODUCT OF U.SA ba Bunch Carrots ea. .59 LIQUID, . Palmolive Detergent 5 btl! l 1.29 KELLOGG'S, Com Flakes pkq 0 1.69 ASSORTED VARIETIES, INCLUDING BABY • 350 mL Suave Shampoo p btl t ' .99 SOFT MOIST, DOG FOOD Total Diet 2*8 4.99 BILLY BEE, CANADA NO. 1 Liquid Honey 500C SQUEEZE BTL. 1.59 Kraft Mayonnaise 750 mL JAR 1.99 IODIZED, WINDSOR Table Salt ■ pk<5. .59 REGULAR, LIQUID, Javex Bleach 16 L JUG 1.39 DEMPSTER'S, 100% Whole Wheat qq or Scone Long Bread ,lo<E .09 FLAMINGO, Butter Tarts of « 1.69 KERR'S, ASSORTED VARIETIES TO QQ BA(? .Ov Tartan Top Candles baS REGULAR OR MINT,, .Aquafresh Toothpaste uliltii "be 1.39 EXTRA ABSORBENT SO'*, TODDLER'S 46's OR TODDLER'S PLUS 40» Pampers Disposable Diapers pkq. ■*= h 9.39 SPECIAL, ASSORTED Household Plastics EACH .99 Styrofoam Clips PKQ. OF 51 .99 QUIKKI, Kitchen Garbage Bags PKQ. OF 12 .45 FROZEN, 5 INCH SIZE, McCAIN, 4-PACK, SUPREME, DELUXE OR PEPPERONI Deep'N' Delicious Pizzas 14 TO 17 OZ. PKQ. 2.69 RICH'S, FROZEN Coffee Rich 2si.89 (100% PURE VEGETABLE OIL) IMPERIAL, Soft Margarine 1-LB. TUB .99 ITALIAN, THOUSAND ISLAND, GOLDEN CAESAR OR COLESLAW, KRAFT Liquid Salad Dressings 500 mL BTL. 1.49 PROCESS CHEESE FOOD, SINGLES (16 SLICES) Kraft Cheese Slices 500 g PKG. 2.99 ALL NATURAL, DELISLE, PLAIN, COFFEE, VANILLA OR ASSORTED FRUIT BOTTOM VARIETIES Set Style Yogurt 2 175 g 4 CUPS | a BURN'S, SWIFT'S SWEET PICKLED, LIMIT 2 PER FAMILY I I *- ' WRMONT Li, : IE CANADA GRADE A FROZEN, YOUNG, CANADA'S PRIDE Self-Basted UNM * Turkeys 6.6 ka •I. 328/», 1.49, SWEET PICKLED, PEAMEALED Canadian Back Bacon IS? 5.49L 2.49, !ll!l||■ law ŒËÜâïI SLICED __ Side Bacon BTd! 1,99 SLICED Cooked Ham... ÏM 2.69 BèeÎKnuckerra 1.99 JJjtSittQ SLICED, SELECTED SPECIALTY VARIETIES j J a ASSORTED VARIETIES m Sandwich Meats nf. 1.19 Shopsy's Salads "J 1.29 CANADA GRADE A FROZEN, YOUNG Butterball UN0U Turkeys mil 3.51/, 1.59, ffiEiuiQ STOKE PACKtD 3.514, Breakfast Sausages 1.59» Polish Sausage ■Y THE PIECE &51/, 1.59, PRICES EFFECTIVE TUES. JUNE 28, TO SAT., JULY 2,1963 WE RESERVE THE RIGHT TO LIMIT QUANTITIES Competitive Prices at 1ER