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HomeMy WebLinkAboutTimes-Advocate, 1981-08-19, Page 11McGillivray set new tax penalty Residents. of McGillivray Township who are in arrears of taxes will be among the first in this area to feel the effects of new legislation which permits municipalities to increase the penalties. The provincial govern- ment has given municipalities permission to charge an interest rate of 1 Vs percent over prime rates. McGillivray will pass a bylaw effective September 1 to introduce the new rates, following a decision at their recent meeting. Matters pertaining to municipal drains took up a large portion of the session. A representative from Spriet Associates attended along with Levi White, George Prest, David Hall, John Lee, Fred Lewis and Jim Scott concerning the Scott drain. A bylaw was given two readings. Bylaws for the Ploenes-Bunger drain and the Blancher- Dietricit,;drains were also given two readings. Tenders were opened on the Burley drain and the lowest tender of two was submitted by Hodgins & Hayter Ltd. in the amount of $5,553. They were awarded the contract and work is to commence immddiately. Later in the meeting, Mr. Haskett, Mr. Hodgins, Levi White. Mike O'Leary, Les Hartle. Harvey Ross and Jim Rowe attended regar- ding the Gilbert -Windsor drain. After considerable discussion, the report was referred back to the engineer for some minor changes. Engineer Will Bartlett attended regarding the Mud Creek drain and an outlet for the Wasnidge drain. Jacob Lagerwerf was appointed to the court of revision for the Mud Creek drain report. Tenders will be invited for the Blancher -Dietrich drain, the Scott drain and the Ploenes-Bunger drain. Tenders to be in by noon on August 31, the date for the next session of council. Bill Green of Proctor & Redfern attended the ses- sien regarding the Geipel property and the possibility of a plan of subdivision creating 16 estate lots. A new backhoe was purchased under the in- surance coverage, with a cost to McGillivray of $1,235. The old one was damaged by fire. Building permits totalling 8111,500 were approved and tile drain loans amounting to $129,800 were authorized. A bylaw approving the issuance of $90,000 in deben- tures to cover part of the cost of the waterline con- struction` was passed. The in- terest rate on the debentures is 161/2 percent. Bullock clan meets The Bullock family reunion was held at Ailsa Craig Park August 3. The weather was good and around 60 relatives attended. Mike and Carolyn Horner supervised the sports program enjoyed by all. Races- 2-5, Carla Leyten, Jonathan and Raymond Ward. 6-9 years- Brian Leyten- Laurie Leyten, 10-12 years- John Leyten, Danny Weigand , 13 -over- Jim Bullock, Steven Steeper, young ladies race- Susan Bullock, Valerie Bullock, mens race- Bruce McGregor, Jim Bullock, sack races- 8 & under - Laurie Leyten, Marcia Daniels, sack race 13- Brian and John Leyten, sack race ladies- Valerie Bullock and Janet Rock, men- Jim Rock and Jim Bullock Three legged- Brian and Laurie Leyten, Jim Bullock and Steven Steeper, Susan Bullock and Danny Weigand , Valerie Bullock and Richard Marshall. Paper plate and orange taking relays were enjoyed by all! Sports ended with a candy scramble for the children. Oldest relative present, Carla Leyten. Coming farthest distance, Carman and Verna of Grand Bend. Closest Birthday, Wilma Bullock, closest Wedding Anniversary, Fred and Clara Lewis, Jelly bean guess, Eleanor Weigand, Button guess, Joe Bullock. A lovely picnic . supper followed. Officers elected for 1982, are president, Stuart Bullock, Secretary, Susan Bullock and Sports Com- Mittee, Carolyn and Mike Horner and Cathy and Jim Hodgins. THREE GENERATION BIRTHDAYS Mrs. Jennie Lawson celebrated her 99th birthday recently. She is shown with her son Gerald and grandson Peter. All three celebrate birthdays the same day. Hits 99 years Sunday a 99th birthday party was held for Mrs. Jennie Lawson at the home of Olive and Garnet Hicks, in Exeter. Those attending were Gerald and Annie Lawson, Peter Lawson, London,John, Laurie and Nicholas Lawson, London, Kathryn, Steven, DIfvl'd- and Scott Fulton, Stratford. Mr. and Mrs. Harold Legg niece and nephew, Windfall, Indiana also spent a couple of days with Mrs Lawson. Mr. and Mrs. Edward Gackstetter, Bill, Dale, Sandra and Larry Yearley also spent the afternoon. Mrs. Lawson was born on the Goshen Line, Stephen Township then farmed in Saskatchewan with her husband George, who died in 1967. They returned to Ontario in 1925. Her son Gerald and grandson Peter also had birthdays on the same day., Rich get richer, poor get poorer Times -Advocate, August 19, 1981 Page 1 1 High interest rates create problems The old story of the rich getting richer and the poor getting poorer seems to be more factual than ever with the increase in interest and mortgage rates, according to area businessmen. Exeter developer Len Veri pointed out that there are two aspects to the problem of high interest rates. He >w said 'that the economy suf- fers,,, because neither the poor nor the rich are putting any money into it. He used his mobile home park as an example. Veri said that the poor simpby can't afford the present mortgage rates, and therefore they aren't buying homes. The rich, who have the money to buy homes, aren't doing so because they are leaving the money in the banks. The people believe that because of the high in- terest rates they can earn more by collecting interest at the banks, rather than in- vesting their money in property or businesses. Veri admitted that the high interest rates have Slowed the °development plans for some properties which he purchased recent- ly. However, he added that the economy should straighten out soon. "I don't know the solution, but it will work it's way out. It has in the past, and it will again," Veri said. When asked what he would do about the economy, Veri said, "If I knew that I'd be prime minister!" Veri said that sales of mobile homes in his park have slowed because first time bu ers sim i 1 can't af- OLD WOMAN IN THE SHOE PARADES — Jenny Keech masqueraded as the Old Woman in the Shoe in Sunday's Lucan Fair parade. Getting a free ride is Carrianne Hotson. Other family members are Mike Keech, Della Allen and Honey -Lyn, Danny and Lisa Gibson." photo 0 3 0 ACCOUNTANT -PUBLIC WARD MALLETTE Chartered Accountants 476 Main Street, S., Exeter, Ontario 235-0120 Resident Partner: John S. McNeilly, C.A. ford a home, while those who have money and keep- ing it in' the bank to earn in- terest, rather than spending it. Exeter realtor Dirk Coolman agrees. He says that present mortgage rates are putting the price of a home out of reach to first time buyers. Coolman said that those who do have the money are reluctant to Invest it in homes and. property right now, because property values aren't increasing as fast as the interest rates have been going up. The reason for the lack of increase in property values is the fact that the market is flooded with property for sale. Many places aren't sellingbecause of the high interest rates, and some owners are being forced to sell because their mortgages are coming due, and they are afraid that they won't be able to handle the increased payments. Real estate salesman for Dirk Coolman, Paul Rohner, points out that the same peo- ple who could afford a ;50,- 000 home a year ago, can now only afford a $30,000 home because of the mortgage rates. As an ex- . ample, Rohner said that the monthly payments for the $50,000 home at 12 percent came to $540.49. But the monthly payments for that same home with a 21'i per- cent mortgage- come to $872.76. Coolman and Rohner pointed out that mortgage rates increase so rapidly that they were unable to keep up to •date with their small books which calculate the monthly payments. Coolman said that they have been able to sell some properties by having the vendor take the mortgage at a lower rate than the bank would charge. Hohner suggested that a possible solution for the problem was stabilizing the mortgage rate at 14 percent, and making up the difference with a govern- ment subsidy. Then the government could tax the banks and mortgage com- panies on the profit made on the high rates. Despite the problem, Coolman and Rohner are remaining optimistic about the future of their realestate business. They are hoping the economy will improve and sales will increase. And Hohner quotes a character from Hee Haw, with a laugh: "I never worry about depression, I went broke during the last boom." Grand Bend realtor Robert Sharen agrees that the goJiernment should take action to control mortgage rates. He suggests that the mortgage rates be pegged, and similar to Hohner's idea, the financial in- stitutions should be taxed on their "windfall profits." Sharen said that two homes have been listed with him which he is trying to sell on behalf of mortgage com- panies. He said that the owners simply turned the homes over to the mortgage companies when their mortgages came due because they couldn't handle the increased payments. Sharen said that he has had many young couples who would be first time home owners in his office looking at homes. "But they're just looking, they sure as hell can't buy," he said. Sharen said that three years ago, he was able to sell a home to one out of 15 peo- ple who came looking through his office. Last year he only sold to one out of 30 lookers, and this year the ratio is even further apart. "Listings are a dime a dozen, but nobody's selling many." Sharen added. Sharen blamed Prime Minister Trudeau for the failing economy. "The prime minister doesn't give a toot about the ordinary Jim Becker Construction DASHWOOD 237-3526 Five Inch Steel Seamless Eavestroughing Now Available In 6 colors with all accessories citizen. He's just trying to make a name in perpetuity in the constitution and the third world," Sharen said. Exeter area builder Jack Taylor agrees that some of the problems are the fault of the government. Taylor said that it is impossible to build homes on "spec" with plans to sell them. "I don't know the answer," Taylor said. "You do a lot of thinking, but ap- parently even the economists don't have an answer." Taylor said that he built a house last fall planning to sell it. but it hasn't moved. He didn't think any builders in the area were 'putting up homes on "spec", at the pre- sent. Taylor said that while builders are not erecting new homes, they are able to keep busy doing repairs and renovations to older homes. He said people are up- grading their present homes because they can't afford to buy new ones. "But it's just small jobs, not the big stuff where you can make a dollar," Taylor added. Taylor said he thought that most other tradesmen in the Dear Mary Jane: in two areas construction industry were renovations, but they would finding the same thing. prefer to be working on new Plumbers and electricians are keeping busy with buildings. he said. My Savings Plans - Pay high interest - Have no fees or charges - Have unique tax -sheltering qualities - - Are flexible for deposits and withdrawals. FIND OUT - CALL ME GEO. A. GODBOLT CLU Devon Bldg., Exeter 235-2740 I missed you last week, you'll have to tell me all about your rafting trip. M. J . I've lived in this area for most of my life and last week was my first trip to St. Marys. Wow! What an interesting place, really unique and very busy As I hadn't planned to shop when I went, I didn't take my money, so I suggest we go there on Sat. For starters, Earl Campbell Jewellers is having an anniversary sale. You will be glad to know they always have 20% off their Royal Doulton figurines. It is really an interesting store, with lots of room so clumsy people like me don't get paranoid For their anniversary sale, there will be 15% off all stock and a daily up -to -50% off savings table. Besides the Doulton they carry Hummel Figurines, crystal and much much more. They have a store in Exeter too! Another place I simply fell in love with was Marshalls, right on the Main St It used to be the Grand Central Hotel. Three stores in one -gift, clothing and cards'n things. I could spend hours in the gitt shop alone, and tor a tourist town, the prices were exceptionally good. In the clothing section you can find really fine wools, yarns, and all around lovely things. I actually did spend a fortune pn cards and wrap in the last section. It was just so good to find such a variety that Is.bought almost a year's supply. Really, M. J ., this town is something else. I went next to Stonetown Antiques, just off Main St. on Church. I have never seen a better selection of collector=plates I was told it is the biggest in Ontario. They even have a Plate Club. Plates are a real investment, and any I buy from now on will be from Stonetown Add to the plate collection antique Canadiana furniture and you have a fabulous store Prices are good too, but most important, especially to a new collector like me, is the free advice. For lunch, we could then go to Westover Park, on Thomas Street. You'll love it. It's a big old home on beautiful park -like grounds, which has been turned into a hotel, while not losing a bit of its stately grace and charm. We can have a gourmet lunch or supper in their delightful outdoor terrace cafe. I felt like a real lady of leisure right out of the later 1800s sitting there It was actually somewhat therapeutic, and the food was very good as were the prices Maybe you'll be interested in spending a weekend there this winter Well, must rush, see you Sat Bring pictures of vour rafting trip 00 Don& ACCOUNTANT -PUBLIC 1 r J � SURVEYORS ARCHIBALD, GRAY & McKAY LTD. ONTARIO LAND SURVEYORS 301 WELLINGTON R0. S. LONDON, ONT. NIC 4P1 432.2293 Exeter - Coll Zenith • 45150 PETER 0. MORETON, O.L.S. Res. 472.5452 AUCTIONEERS Hugh Tom FILSON and ROBSON AUCTIONEERS 20 years' of experience of complete sale service Prov,noolly I,cenced Cooduct +ales of nny kind • any place We guarantee you more. To insure yuccesc 01 your sale or appro,scl Phone Collect 666.0833 666-1967 NORM WHITING LICENSED AUCTIONEER d APPRAISER Prompt Courteous E11q.P,,, ANY TYPE ANY Slif ANYWHERE We Rile complete tole sen"ce PROFIT BY EXPERIENCE Phone Collect 235.1964 EXETER GERALD L. MERNER Chartered Accountant BUS. 257 Churchill Dr. EXETER :15-0281 Betty 1 CERTIFIED GENERAL ACCOUNTANT / J � CHIROPRACTORS DAVID C. HANN, D.C. Doctor of Chiroprochc 105 Main Street. Exeter 235-1535 Ar An1O'ntment Dolly f.P •'.. .1 CHIROPRACTORS C. HARRY RODER, D.C. NORMAN L. RODER D.C. DOCTORS OF CHIROPRACTIC 84 Panel Lane STRATHROY Telephone 245-1272 By appointment please Gerald A. Webb D.C. Doctor Of Chiropractic 438 MAIN ST. EXETER By Appointment Phone 235-1680 JOSEPH F. DARLING CERTIPIED GENRE AL ACCOUNTANT TEL. If 10-296-22ON THE OLD TOWN HALL A22 MAIN STREET EXETER, ONTARIO NOM few INSURANCE i Bev. Morgan Insurance Agency Ltd. 238 Main Street. Eteter 'VOM ISO Ontario 235-2544 Complete Insurance Coverage OFFICE SUPPLIES SEE US FOR A FULL LINE OF Office Supplies Furniture & Equipment LIVINGSTONE'S Downtown Exeter ) 1 This space could be yours Phone The Times Advocate Exeter 235.1331 for details BARRISTERS & SOLICITORS T CAREY & OTTEWELL BARRISTERS & SOLICITORS Main St. Zurich, P.O. Box 208 Office Hours Mon. - Fri. 1-5 p.m. RESIDENT PARTNER J. RICHARD OTTEWELL Ph. 236-4312 Res. 524-4653 1 INSURANCE i l le nrjr • � . /!!!. Yn lwfn?WV .--X,n��1 TE 11('141011 15191 2 1211 '41 MAIN S1 Ht 1 1 1X% 1111 ONTAtIl() 1' O Brio( It,(x) NOM ISO INSURANCE S.C. PEARSON Insurance Agency Inc. 33 Huron St. East Exeter, Ontario GENERAL INSURANCE But. 235.1455 Res. 235.0357 Box 1769 NOM 1S0 Realty Insurance Inc. 235 2420 238 8484 4829747 fXETER (-IRAN() BF NO 1INTON C•or`E PI4 " Appraisals Mortgages Life Insurance Trust Certificates •