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Home My WebLink AboutTimes Advocate, 1998-12-16, Page 16%See cxecer limos–Advocate Business Wednesday, December 16. 1998 Steckle agrees with Martin's rejection of bank mergers By Scott Nixon TIMES-AI)VOCA'I'h STAFF EXETER — Huron - Bruce MP Paul Steckle says he supports Federal Finance Minister Paul Martin's decision to reject the proposed mergers of four of Canada's big banks. .. Martin made the announcement Monday to reject the two proposed mergers between 11) Bank and (ABC and .the Royat Bank and Bank of Montreal. Steel& said mergers may be allowed in the future but, for now, there are too many unanswerod questions surrounding the merg- ers. • Ile said one .major .issue was how. the mergers would affect Competition, As an example, he asked -what would happen if a small municipality had only a Royal 'Bank and a Bank of Montreal. If the com- panies .merged, both branches wouldn't stay open, said Steckle, leaving cus- tomers with no options. Steckle said the belief that Canadian banks have,.to merge .in order to stay com- petitive on the world market is false. "Bigness isn't always better," he said, citing the Bank of Japan as a large bank that is struggling. Ile added popular opinion is against the mergers and said it's difficult for the aver- age person on the street to see how bank mergers can help cus- tomers. .For mergers to be a possibility in the future, Steckle said the banks will have to ensure the govern- ment that competitive- ness will remain. Steckle is also con- cerned about what will HuronTractor carrying Smith Trailer and Equipment line EXETER — Ontario -based Smith Trailers and Equipment, Inc., has announced Huron 'I'ractor•will be its new authorized agent in -Exeter and Blyth. Smith has 'been manufacturing trailers for over 10 years. Mary Jo Chapman, president and marketing manager, says there is a large demand for Smith's trailers built with Canadian climates in mind. "Our trailers. are built tough and priced right — qualities that con- sumers are quick to recognize and appreciate, she says. Smith manufactures a wide vari- ety of traders in many sizes, .both gooseneck and bumper pull, to Include farmers' livestock and con- tractors' highway dump, 11at beds, landscape and utility. Smith's two nevelt lines — the horse/stock combo and the contrac- tors high security enclosed equip- ment and supply trailers — have a new look with a flat` roof and an aerodynamic nose cone to reduce drag for better fuel consumption. These changes have also been incorporated into Smith's regular livestock trailers. "Ou.r goals at Smith are clear," says Chapman. "We provide cus- tomers with trailers 'engineered for quality with muscle where it counts' with rigid quality control standards. We are honoured to have such a well-known and respected company as Iluron Tractor act as an agent for our trailers." Crimes of the Week Theft of CD players A break, enter, and theft occurred at Dunlop Drive in Colborne Township on November 29. Numerous items were stolen at this time. Some of the property has been Located and a Young Offender has been charged. Still out- standing are three portable CO players, a Panasonic model SLS571, serial #FB4131301646, Sony CD player, model 1)151, and a third CD player, make unknown. Theft of ATV On November 5 an A'1'V was stolen between 1 and 2:30 p.m. from Becker Power Products at 600 Main Street, Exeter. The ATV was a red 1999 Arctic Cat model 300, VIN #4UF99AT55XT415634. A witness observed two vehicles parked on Norwood Village Rd., an older green pickup truck and a newer dark van. A male was seen driving the ATV from the area of 13ecker's and a second male helped lift the ATV -into the rear of the pickup. Both vehicles then drove north on Main St. Theft of lights On November 28 thieves stole light fix- tures from Mac Naughton . Park in Exeter sometime overnight. The stolen property is a bollard light fixture, pinky - beige in colour, cement - like with round dome on top, and one plate miss- ing from another fixture that was damaged. Value of the stolen property is approxi- mately $827. Theft of CD player A vehicle was sitting at the Little Bowl on Iluron Road in Goderich from 1 to 6:15 p.m. A culprit smashed the' passenger window out of the car and stole a Panasonic Shock %Vave. portable CD player. The value of the player is about $190 and the damage to the window is $300. If you have informa- tion about these or any other crimes calf CRIMESTOPPERS OF HURON COUNTY, 1- 800-222-8477 and you could receive a reward of up to $1,000.00. Remember crime doesn't pay, Crime Stoppers does. Incorrect headline A headline in last week's T -A incorrectly identified the name of Coldwell Banker All - Points Realty Services. The T -A apologizes for the error. happen to bank employees after a merger. The banks haven't indicated how many jobs would be lost under a merger. Steckle added there's also the possibility that a merger could turn out bad. One change Steckle would like to see con- cerning banking is for foreign banks to bt more easily allowed to come into the country. Responding to com- Business Directory i AUCTIONEER • FULLY UCENSED & BONDED, CALL OR FAX (519) 666-0833 Pick up and sales of complete Of partial estates. Specializing in Farm, Real Estate, and Genera Sales. Serving the community and area for over 40 ears. • • REPAIRS Sewing Machine Repairs to all makes Free estimates 90 Day Warranty Experienced since 1952 Sew and Save Centre Ltd. 149 Downie St., Stratford Phone 271-9660 plaints from Liberal MPs that the banks were excessively lob- bying their position on the mergers. Steckle said he hasn't person- ally been lobbied as tsl&2ndMort a i MONEY AVA&ABLE al i 5% interest or less Personal Loans Toto!Iy Unsecured d you quali- fy, monthly payments as low as Amt. App. Mthly Payt. S5,000 S27.68 510,000 554.16 S15,000 581.25 Consolidate Your Debts 1(800) 387-1932 Astral Funding much as other' MPs because most of his work lately, has con cerned the pork critiis. Harry Dougherty Accounting Service Tax Preparation Business • Financial • Personal Statements • Farm • Payroll • Business • Bookkeeping 85 Riverside Dr., Exeter Office 519.235.2156 — — — — t= — — — — — — — SUBSCRIBE 1 IP YOU ARI=N'T SUPSCRIPING 1 TO THC- TIMS-ADVOCATQ, 1 YOU'RJ MISSING OUT. 1 Use the coupon below and subscribe today! 1 Name: 1 Address 1 I City I Prov. 1 Postal Code SUBSCRIPTION RATES: CANADA I 1 year $35 + 2.45 GST•2 year $63 + 4.41 GST OUTSIDE CANADA $102.00 1 USE YOUR CREDIT CARD I OOOLJLLJU0 CLICI0000❑ Card No. Expiry Date 1 0 Visa LJ Master Card Li Cheque enclosed Return to: TIMES ADVOCATE 424 Main St. Exeter, Ont. NOM 1 S6 1 1 IL. ------- OEM ---- till+rEcK eg,„4 4a/sated Since 1976 Fireplaces Installed From $1299. HURRY, OFFER ENDS DEC. 31s''/98 VISIT OUR SHOWROOM ZURICH GODERICH 236-4770 524-4199 Main Showroom Suncoast Mall Corner of Hwy. #21 & #84 1-888-GEO-TECK