Loading...
HomeMy WebLinkAboutClinton News-Record, 1976-05-20, Page 18I no liens against cOmPADY teY assets and must wait Until . secured and preferred operations Creditors have been PK off eter plant* before they, can collect AY 83, the anything owed tO,them. rs at, , to close. in Parks explained that as the about_four w according result of new legislation. to O. W. Parks1 an accountant employees' wages for the last with Clarkson Co. Ltd. of three months must be listed ondon, which had been under preferred creditors, up to a maximum of $500 per employee. In the case of 3.F. Farm, Parks said t.hatall actual Wages will be paid to the employees plus vaction pay for the past three months, once the secured creditors have been paid. Any vacation pay beyond the past three months, as well as severente pay comes under the heading of un- secured and the employees will not receive this money unless there are any company assets left over once the secured and preferred creditors have been paid off. A similar situation ac- curred at Hall Lamp of Hurn Park about three years ago when that company went bankrupt In that instance, the employees - were represented by digit UAW which fought for 'Wages, severance, and holiday pay through the courts and finally reached a settlement with the receivers by which the em- ployees received com- pensation for losses due to termination of employment appointed an agent or tn receiver -manager for the Dank of Montreal, Some 75 employees will be affected by the. permanent closing, however Mr. Parks indicated that a portion of them would be given jobs with McKee bros. of Elmira, which has purchased S.F.'s inventory of product lines. All other properties will remain under the control of the receiver. the Bank of Montreal and the Ontario Development Corporation, which were appointed agents for the secured creditors. At least a dozen J.F. em- ployees were laid off from the plant last Friday, according to Parks. $11,326 in salaries and wages and $25.121 in salesman's com missions were listed among the un- secured creditors of J. F. Farm. while another $7,000 in salaries and wages and 52500, In salesman's commissions' were listed under preferred creditors. Unsecured creditors have Only two die in fires in Huron, report shows Two Toronto men who were killed in a tent fire, last July near Bayfield were the only fire deaths in Huron County in 1975, the Ontario Fire Mar- shal's report shows. The county, with a population of 54,671 had a fire death rate of 3.66 per 1,000 population. compared to the county of Bruce which has a population of 52,313 and a fire death rate of 1.91. The village of -Blyth with population of 859, had six fires resulting in $912 damage. - That is up from a five year average, from 1971-75 which was four fires per year with an average fire loss of $2,497. Brussels, a village with a population of 988 had no fires in 1975. The five year average for that village is four fires per year with 58.707 damages. The town of Exeter with a population of 3,390 had 12 fires last year, resulting in an average loss of $22,116 . The five year average is 12 with a fire loss of $39.852. Independent Skipper to VIM Co-operative of Dated* Livestock Dept. TWOS% Ship Your Livestock with Roy .Scostchmer Ntanday Is Shipping Day From Varna Stockyard CALL BAYF1ELD 565-2636 By 7:30 a.m. Monday • For Prompt Service No Charges on Pick-up ti without proper notice remn,neratie0- into a receiVerShiP, keep the company operating. It had been no by both the secured crediU and Erlc Oral/10v, PresideA of J' .F. that some means could be found to keep the, company in eXistenee and pay off creditors without the company having to file for Ropes that the company would be able to continue to exist dimmed after "efforts to sell it as a going concern waned"'Parks said. Parks said that in order to make a receivership work there should be assets over and above what is owed to the secured creditors and the J.F. did not have these assets. According to Parks Mr. Gravlev decided on his own to file for bankruptcy when he discovered that there was going to be difficulty holding the receivership together and settle the claims on an equitable basis. Parks called Gravlev's decisiona moral one. Parks said that 5500,000 to $6001000 in company assets is still in the hands of Clarkson and Company to meet the demands of the secured creditors. $1,805.955 is owing to secured creditors. The secured creditor with the largest amount owing is the Bank of Montreal with $1.098,322. The list of creditors of J.F. is extensive, taking in a number of area businesses. In all, there are 281 separate accounts listed. A total of 53,376,716 is owed Mrs. Helen Davies of Clinton takes a look at the letter on her living room.floor sent by an old student of Mr. Davies, Jim Orr of Grand Bett4..Iim Is currently a student at a college In Toronto studying computer technology. The letter arrived early in May. (News -Record photo) Through the other weeklies A disease that is on the have a new arena by the start rampage in Ontario in the last of this fall's hockey seasons. few .months has broken out in reports the News in another Huron County again, this story. Their- arena was also time in Wingham. condemned, but they are The disease which affects going to build another one only older arenas, has left with new foundations around dozens of arenas condemned the old perimeter of the old and useless, and the cure in one, which will be torn down each case costs hundreds of when the fair ends in mid - thousands of dollars. August. Earlier this year the Exeter The Legion Ladies arena ,Was closed and now a Auxiliary of Brussels marked similar fate awaits the their 30th anniversary Wingham arena, reports the recently, the Brussels Post Wingham Advance Times in related in last week's edition. last week's paper. Tho Among the many washers Advance -Times said that a were well washers Auxiliary Committee of local people will members from Clinton. be formed to see if the arena Seaforth. and Exeter. should be either repaired or No way will the Bruce replaced. County Board of Education Rough estimates of the answer to Bruce county repair bill run as high as council, the Lucknow Sentinel 5200,000, while a new arena reported last week. Council had requested the board chairman or the director of education to give reasons for a jump in education taxes. Bruce board financial chairman Alan Whitcher said the board is not accountable to county council but rather directly to the taxpayers. J.F. Farm Machinery company of Exeter has finally folded , and according to the Exeter Times Advocate. 75 employees will be out over S36,000 in wages and commissions. as well as their jobs. However. some of the workers will be able to get jobs at McKee Bros., of to all J .F.'s creditors. could cost about $500,000. Ciffieials from the Ontario The Wingham paper also reported that their recreation of 7,284 had 28 fires in 1975 present on Friday to explain Goderich, with a population Department of Label. were which caused $51,054 in obligations and rights to J.F. board recently added a surtax to all out-of-town users damages. The five year Company officials and to the of the recreational facilties, average in that town is 36 employees. Although em- except those from Est fires per year with $51, 718 in ployees who have worked at W awa nosh Township, who 14 fires and a fire loss of week's severance pay with a kick in some money to help Clinton was down in 1975 damages. the c.ompany for less than two with support the Wingham years are entitled to one 532,681' while in the five year maximum of eight weeks program. Goderich town council, average there were 17 fires severance pay owing t° according to the Goderich a fire loss of 550,606 with with a population of Signal -Star of last week, has th . employees of 15 years or 944 had seven fires M 1975 be granted unless all of the decided to finance a $20,000 longer, no severance pay will a fire loss of 529,249. The with project to put up lights at the wi- secured and preferred ball diamond in...agricultural five year average is seven creditors have been paid first park. fires per year with a fire loss and there are still company equalling $15,507. 'assets left over to meet the The Signal -Star also Seaforth, with a population total credits owing to all reported that their town of 2 061 had 11 fires in 1975 unsecured creditors. council is in favor of a report to reduce the number of county reeves to 29 from 45. The wheels have hardly been put into gear, and already 56,100 has been donated to the Exeter Arena fund, 'reports the Exeter Independent News in a story in last week's paper. Meanwhile. Lucan will with an `estimated damage at Since the Clarkson om- $2,844. The five year average pany has only about 5600,0010 was 13 with a fire loss of work with in total company 532,331. , assets, there would probably Stanley Township with a be no money left over, once population of 1,591 had six the total of41;142,551 owed to fires in 1975 with a fire loss of secured preferred. and $32,688 while the five year contingent creditors had been average was four fires per dealt with by receivers for year with an average fire loss J.F. of $18,061. There were six fire's in Tuckersmith Township with a population of 3,190, in 1975 resulting in 59,617 in damages. The five year average for that Township was five fires per year with an average fire loss of 518,620. Wingham, with a , population of 2,841 was down 1975 with nine fires in resulting in $4,492 in damages. In the five year average for that town, there were 11 fires per year with 515,433 in damages. Zurich , with a population of 740 had three fires with $148 damages, compared with the five year average of three fires per year with 55,987 damages. ah1i4,e4 lel' 6 HEADOFFICE Seaforth. On Mrs. Maw rel Sharp. Sec. Treas. Pho e 577 0400 Fire, Extended Coverage, Wind- . stone, Theft, Property Dosage, Etc. Directors and Adjusters: Lavern Godkin. Mt 1. Walton, Ont. Robt. Archibald, RR 4. Seaforth Ken Carnochan. RR 4. Seaforth Ross Leonhardt. RR 1, Bornholm John McEwing, RR I. Blyth Stanley Mcliwam. RR 2. Goderich Donald McKercher. RR 1. Dublin Wm. Pepper. Brutelietd J.N. Trewartha, Box 661. Clinton Phone 527 1877 $17 1817 5271545 3452234 S23 43*0 524 7051 527 1837 eV 7534 482, 7543 ONTARIO LOTTERY CORPORATION INVITES APPLICATIONS FOR DISTRIBUTORSHIPS The Ontario Lottery Corporation from time to time has territories come available in various parts of the Province for the distribution of Wintario tickets. A distributor is required to be actively engaged on a full time basis in the operation of the distributorship, each distributor must em- ploy adequate sales personnel, and maintain sound accounting and clerical office practices. Wintario distributors are independent buSinessmen working on a commission basis. A distributor is required to pre -pay for Wintario tickets and reeH them to theArror so Wintario- -- retail outlets in his territory. The current commission structure for each draw is 21/2 cents per Wintario ticket for the first 100,000 tickets and 2 cents each on the remaining Wintario tickets sold. In accordance with an agreement with Olyrri-pic Lottery, Wintario distributors presently act as wholesale distributors for Olympic Lot- tery tickets as well. Sales reports and audited financial statements will be required by the Corporation. At present vacancies exist in territories centered in Toronto, Paris and Windsor. Others may arise in the future and all applications received will be kept on file from which any future vacancies could be filled without further public notice. Interested individuals can obtain further details and application forms by contacting the Corporation at (416) 961-6262 or writing to: Distributors. Fite 2400 ONTARIO LOTTERY CORPORATION 2 Bloor Street West Toronto, Ontario M4W 3H8 - Applications for existing vacancies should be recelved by May 31, 100. Agents: James Keys. RR 1 Statorth Etue. Seafosth WM. Leiner. tendesbori Steve J. Murray. RR S. Seaforth Elmira, who purchased the inventory. Seaforth mayor Betty Cardno suggested in last week's Huron Expositor that mayors should be allowed on County council during discussion of the proposed cut in county council- mem- bership. Mrs: Cardno said -she feels that if the heads of the townships are on county council, then why not also the heads of the towns. Zurich won't be having any summer recreation program this year, the Zurich Citizens News reported in a story last week. A lack of interest plus the province's cutting of the grants were cited as the reasons. z "PLANTING LP EASURE" .4sr CAN BE YOURS • WITH " Choice seed selection • Gustily boxed plants • Levm Cele Products ' • Soil Conditioners • Insecticides s Herbicides • Tools, glovies etc. DURST FARM & GARDEN CENTRE ' H. 8. N. Baker, Proprietors 22 ISAAC ST. CUNTON PHONE 4829333 fir RECalVERSHIP SALE J.F. FARM MACHINERY LTD. THAMES ROAD EAST EXETER, ONTARIO 235-1021 CLEARANCE Ali items reduced for quick sale. SALE STARTS IMMEDIATELY • large inventory of spring -tooth cultivators. "vineyard spring -tooth cultivators • row -Crop cultivators • heavy-duty held cultivators • fertilizer spreaders • hay rakes • forage boxes • forage harvesters • wagons All items completely assembled and ready to go. (No deliveries) Also Large selection of roller chain. flat steel chain. hydraulic cylinders and accessories.. hydraulic hoses. draw pins. split pins'. hair pins and much more Wettable powder herbicide For Pre -emergent weed control in soybeans, field beans (white and kidney) snap and lima beans. 4,0 Why spray fpr wee4$ you datethave2 if_you.,dcn't have Velvetleaf, cocklebur, thistle, yellow nutsedge or bindweed, but you de have troublesome grass problems like crabgrass, green foxtail, witchgrass, and weeds like lamb's - quarters, black nightshade, pigweed or ragweed, then Patoran is your most efficient and most economical weapon against weeds. AGROCHEMICALS OF OUR TIME. BASF Canada Limited 10 Cortstellalion Court, Rexdale, Ontario 416.671-12D0 ' • .4,, arxr.44-•