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"A Family Tradition for 130 Years" Township' S looking at | ways to invest assets | By John B. McClelland Port Perry Star Scugog council wants to make more money on its money. Faced with plunging interest rates on bank deposits, the township's finance committee will ask for proposals from professional financial managers on how to earn more on short term deposits. At certain times of the year, the township has considerable sums of cash on hand, sometimes as high as $2.5 million. This money is on deposit in bank accounts where interest rates are at an all time low. Finance committee members feel that pru- dent short term invest- ments can generate more' interest than that being paid from bank deposits. But in agreeing to afk Corrections 0 A photo caption in the Dec. 6 issue of the Weekend Star incorrectly states that copies of the Cartwright history Along the Gravel Road were donated to Blackstock schools by the museum. The books were in fact donated by Paula Lishman Ltd. 0 And in last week's Port Perry Star, a story on an upcoming Robbie Burns dance that will be a fundraiser for the Highlands of Durham Games quoted an incorrect admission price. The correct price is $50 per person. 0 In addition, a caption in last week's Weekend Star omits the names of snowmobile clubs which contributed in a donation to Easter Seals. They are: Cartwright Dynos; Heart of Ontario; Long Sault; Port Perry, and Ganaraska clubs. The Star regrets the errors. for proposals on how to make more money from the taxpayers money, committee members made it very clear they are not interested in investments involving any degree of risk. Ward 2 Councillor Ken Carruthers said the busi- ness of short term invest- ments is very complicated and demands advice from bona fide professionals, such as that offered by major banks and invest- ment institutions. There have been well- documented cases of municipalities losing large sums of money on investments that went sour. Perhaps the most celebrated case was in California's wealthy Orange County, which was forced into bankrupt- cy a couple of years ago after losing millions on high risk derivatives. While the township has large sums on deposit at certain times of year when tax bills are due, at other times, like December, the municipality must berrow from its own reserve funds to pay for operating costs. TOWERING ACCOMP! Karlyn Aliward, Janine Go earned them a certificate They were given the Last, minute gi Fragrances for HIM & HER and Sung Forever Farenheit by Chnstian Dior Amarige de Givenchy From $35 fo $80 Service, Quality & Style Since 1881 168 Queen St.. Port Perry 985-2521 2 % Mens & Ladies OF Sleepwear 2 % Mens & Ladies OFF Robes Ta bi Co-ordinates Buy 1 get the 2nd for 1/2 PRICE! ooo 2 % Selected Mens & OFF Ladies Sweaters 2 % Selected Ladies OF 20: Necklaces Mens & Ladies Wallets *excluding Joe Boxer CE 1CRCT To Rf 0 To: iy Bele open until 8:30pm WEEKNIGHTS SELIG EVERITT EH Tuesday Dec. 24, 9:30am to 4:30pm