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Orono Weekly Times, Wednesday, June 20, 1983-9 Alternate day kindergarten to be studied by committee The Board of Education has given approval to a recommendation from their curriculum committee that a committee of parents, teachers, principals, administration administration and trustees to consider the question of alternate alternate full-day kindergarten. This committee is expected to report its findings to the board by November 1983 but more time will be granted if it is required. Earlier this year the board cancelled a proposal to introduce introduce alternate full-day Dr. Robert McClure, former moderator of the United Church of Canada, in speaking to the Rotary Club of Oshawa, gave a glowing report of life and standards now practiced in China. McClure has spent many years in the Orient and in 1981 returned to China after an absence of Mortgages -- RateRoulette kindergarten rather than the present half-day everyday kindergarten. Parents petitioned petitioned the board to reconsider reconsider their plans which in many cases they stated the proposal was being brought forth with very little back-up material. The board had said that alternate full-day kindergarten has been in effect effect in numerous other areas. with" no adverse affects. At this point the board abandoned the proposal of 32 years from that country. country. . In his address he said China respects and takes care of its millions of people, people, expecting them to "act with respect and responsibility, responsibility, too. He said there were many features in China that Canada could well observe and especially mentioned housing. alternate day and kindergarten will operate during the 1983-84 school year on the basis of half-day everyday kindergarten. The new committee is to consist of one parent from each of the three areas, one trustee from each area as well as one teacher or principal, a member from administration and as well a primary consultant. consultant. In all of south-east Asia McClure Said employers are ■ responsible for the housing of their employees just as they are for the machinery that opérâtes in their factories. Likewise hospitals provide housing for their doctors nurses and all other staff. Everybody must be housed, he said. Another feature of con- structiopin China he sates by referring to professional professional builders and amateurs building a seven- story apartment building in eight days. He said the amateurs who made up 80 percent of the woprk- force were the people who later moved into the building and having à part in the construction call it their building. There is no theft, vandalism or damage, he said. McClure said jobsharing jobsharing is an accepted solution to unemployment in China, Malaya and Singapore. McClure who lived his first fifteen years in China said the men who formed communist China had a vision during their hideout when China was overrun by Japan. after the war they turned turned their dreams into reality reality and China today is populated with polite, well-behaved, civic- minded people living in a ' clean ordered land.' , McClure suggested it was time in Canada for a dream, dreams of today's leaders in what they can hand to their children and great-grand children at the end of this century and beyond. Breeders hopping (Continued from page 8) Bing Harris of the Ontario Ontario Council of Rabbit Association then addressed addressed the meeting and had full support in opposing the proposal of the Canadian Canadian Rabbit Association. He condemned the department of Agriculture in issuing the incorporation incorporation and claimed the new group were hard pressed to name their founding committee. He said the Quebec breeders were not about to support the new group but in fact were preparing to sue the group. He said a new organization must have support of breeders from all across Canada, and "you do not have it", he said. Harris suggested all gét back to 'day one and start over if.' they wanted a Canadian association. The meeting was told by Agriculture Canada that incorporation would not become a reality until such time as it had the support of the majority across Canada. Although incorporation incorporation had been granted the ÇRA must now com- Minister. Bing Harris called an unofficial vote of the group present and with the exception of a_ very few, all opposed the formation of the new association. A question and answer period became quite heated at times Saturday afternoon. An official vote will be held in Ottawa at an infor- 1 mation meeting to be held the early part of July and the Department will make their decision taking into consideration discussions at the meeting and letters and views that may be received up to the end of September. Clarke Public LIBRARY Tuesday 1-8 p.m. WednSday 1-5 p.m. Thursday 10-8 p.m. Friday 1-5 p.m. Saturday 10-1 p.m. Closed Mondays 963-5507 Newcastle Ppblic Library Board Partll --Is the Gamble Worthlt? We should be like China states Dr. R. McClure felt that Canadian breeders and growers pile its by-laws and con- should be associated with ■stitution before approval a Canadian organization! would be given by the How many times have you heard lately that mortgage interest rates are down, and going down further? How many times have you heard that they have stabilized? While you're counting, how about the number of pessi- 1 mists you've heard discussing when we'll face a new round of interest rates in the 20% range. , .- Confused? Welcome to a large, and growing, group. Even the professionals dis-, agree, and adnjit they really* have not got the answer to the question on any home- buyer's mind -- "What rate shall . I take, and for how long?" „ "The truth is .nobody really knows what; will happen," happen," said Robert Relier, Vice President of Corporate and General Lending at Victoria and Grey Trust Company, where current rates are as low as any in the industry. "Rates are determined by market forces, and although there is variation and a homebuyer should shop around for the very best rate, life should consider a number of other variables as well," continued Mr. Keller. If one-year mortgage rates are in the range of 10.5% today, with 3-year mortgages mortgages at' 12.5% and 5-yeaj terms available from some lenders including Victoria and Grey at 13%, the homebuyer is faced with the dilemma of choosing. "What worries most people," people," said Mr. Keller, "is that rates will go down even more and that they will be locked in at what will then seem like an unacceptably high rate of, say, 11.5%. This rationale misses the point to some extent." Mr. Keller pointed out 1 consumers should ask V • .iselves how far they 1 trunk interest rates can possibly fall, and balance that figure against how far they think those rates could rise over a given period. "The interesting thing," noted Mn Keller, "is that most people think interest may fall perhaps another 1-1 Và percentage points at the most. However, they believe interest rates could ^conceivably rise again as much as 6 or even 8 percentage percentage points. V".That sort of downside risk is an enormous gamble," Mr. Keller emphasized. The impact of that gamble on family budget can be quickly calculated. For example, example, a family with monthly monthly gross income, of $2,000, has $500 per month t available available for mortgage interest and principal based on using 30% of gross income for mortgage costs and 1 taxes, This family could afford a $48,000 mortgage at 12%, ", For, purposes of illustration illustration however, assume that the family purchased a house which required a $43,000 mortgage. Look at the djfferent options available available at various interest rates: (all figures based on a 25-year amortization) Monthly I&P payment a 1-year term @ 10.5% $399.19 a 2-year term @12% $443.72 1 5-year term @ 13% $474.05 This family could live comfortably with any of these payments, and in fact there is not much dollar difference per month between a 10.5% rate and a 13% rate. If rates, do fall, but only -by the expected one or IV2 percentage points, the ■ potential upside benefit for this fajnily is not great. However, should rates rise again to the 207p range, as they did during the summer of 1982, this family would have to pay a whopping $760 per month -- well above their available resources resources for home ownership. ownership. "Homebuyers should calculate calculate their own levels of acceptable risk," said Mr. Keller, who added that there are always extra costs associated with changing your mortgage or getting a new mortgage. Mr. Keller illustrated the point of acceptable risk by saying that a homeowner today may prefer to be paying the 1-year rate, but realizes that he absolutely could not afford a rate higher 1 than 14% or 15%. Such a homeowner should ask himself whether the gamble that rates will have fallen 1 or Wi points in ojte year is worth the risk that they may .risk beyond the level which that home- owner can afford. "Every purchaser and mortgage borrower is different, different, and has individual needs," said Mr. Keller. "At Victoria and Grey, we counsel counsel people to come in and talk to us before committing to a mortgage. Look at all thé factors, and consider all- the alternatives" he added. The alternative's a home- buyer should consider include include the payment schedule, the term, pre-payment features features and other /actors in relation to the available funds, in addition to the rate. These options are the subject of part III of this series. For further information, and copies of other articles in this series, contact the Branch Manager at local Victoria and Grey Trust Company qffices' throughout throughout Ontario and Alberta. McClure, " now 82, returned to China in 1923, serving as a surgeon there until 1948. He then came back to Canada before heading to Palestine 1 in 1950 and India in 1954. He served as moderator of the United Church in 1971 and then served in Borneo • from 1971 to 1974, Peru in 1975 and 1976 and Zaire in 1977. He revisited China in 1981. The Corporation of the TOWN OF NEWCASTLE PUBLIC NOTICE Please be advised that the Newcastle Fitness Centre, Darlington Sports - Centre and the Bowmanville Arena will be closed to the Public on Friday, July 1st, Canada Day,' T-.Ai Fanning, R.D.M.R. (F) Director of Community Services Date of Publication: June 20th, 1983 S u mm e r Special offering All Perms at Vi Price Beginning Thursday, June 23 until Saturday, July 23 Visit The Location Nearest You: 21 Silver St. - . Main St. BowrYiariville*. ' Orono 623-6333 ' 1 983-5333