The Vancouver Sun from Vancouver, British Columbia, Canada • 24

She 'Itotouwr Sm BUSINESS 24 MAY 16, 1977 REDUCED! AUTO REPAIR By $7,600. Now only 912,600. Vendor anxious. Call for details. June Vox i)M-6HtH.

Crest Realty 'Flying trains' prepare for take-off in Japan ARP SITE FOR SALE VANCOUVER COMPLETE SUITE PLANS Agent, 524-8531; 526-8692 Scoticbonk Appointment congestion between city terminals and airports has reduced the time-factor advantages of air travel. Says Hideo Hirasawa, a JAL director: "By improving the city-to-airport surface transport, we can restore to the passenger the main advantage of air travel speed." The High Speed Surface Transport is raised by electromagnets and accelerates rapidly as linear induction motors react to TAX SHELTER 1933-40 EASTERN DR. PORT COQUITLAM CCA. Cert, con Im obtained far this nw tide by side duplex, appro. 130O sq.

ft. tach side, full basements, front landscaped, l't baths, ranges, W.W., 3 fireplaces. On bus route, close to schools. Open Sunday or coll Bob Strachan, 943-7141 or 438-8161. CANADA PERMANENT TRUST AROUND THE PACIFIC with the best mini-summary of Asian macro-economics we have seen for a long time: "Two thousand million people live in Asia east of Iran.

They include three-fifths of the world's teen-agers and children, which means three-fifths of all our futures. "The majority of them live in households with a cash income under $7 a head a week. Less than half are being brought up in a democracy. "Although most westerners politely do not notice this, the only consistently democratic country in Asia since 1952 has been rich Japan, which has continued with the world's fastest-ever economic miracle by regularly re-electing politicians who are paid to keep out of big businesses' way. "But in the past decade-and-a-half a thrilling thing has happened in undemocratic Asia, possibly the most significant development in the world in our lifetime.

After many centuries during which the real problem of poverty in Asia has been rural underemployment, two different sorts of society have begun to break through to creating full employment at last. "One of them is communist China, which has established full employment through what might be called a sort of 'rural Keynesianism' attained by mistake. The other breakthrough is being made by the capitalist roaders, such as South Korea and Taiwan, who are following the trail blazed by Japan. "Neither group of countries is democratic. Both face unsuspected problems immediately ahead Despite howls of protest from various Asian shippers' organizations, the Far Eastern Freight Conference has again hiked its rates, this time by a basic 12.5 per cent.

But the inability of the shippers to stem the rising tide of tariffs highlights the need for an alternative regional service. Over the past six years the FEFC rate has increased 93.8 per cent. A growing solidarity of shippers throughout Asia against the conference's costs may mean that the day is not far off when FEFC dictatorship of rates and terms for shipping services to and from the Asian region is over. WV 1 1 mm sL'fpl R. J.

KAVANAGH I fV3. I li lea liory Get it from Kelly Girl. Screened, bonded, tested, guaranteed temporary help. Backed by 30 years of service. Call us.

Tariffs needed to protect steel industry The Bank of Nova Scotia announces the appointment of R. J. Kavanagh as Vice-President and General Manager, British Columbia 'Region. This appointment as a Vice-President reflects the rapid growth of Scotiabank in recent years and recognizes the broadening responsibilities devolving on the Bank's senior executives in British Columbia. By ERIC DOWNTON On reclaimed land beside Tokyo Bay stands a yellow hangar, small and ed.

Wind rattles the tin roof, a handful of mechanics wear goggles against flying sand as they wheel out their hand-built experimental vehicle. Moments later, electromagnetic force takes over, effortlessly hoisting the one-ton fuselage into the air four inches above a magnetic track and soundlessly propelling it on a trial trip at 100 miles an hour. This is one of three "flying train" systems being developed in Japan and is officially labelled the High Speed Surface Transport. Although the famous Japanese "bullet trains" are still the world's fastest, carrying half a million passengers daily at 130 miles an hour, plans are well advanced for replacements 500-ton trains swishing along at 300 miles an hour several inches above the track. Passengers in the "flying trains" will be able to sip their sake and nibble their snacks in comfort.

Yoshihiro Kyotani, chief of a Japanese National Railways' research team, says the ride should be "as smooth as that in an airplane without air-pockets." The "flying trains" will cut travel times by two-thirds. They could be welcomed by environmentalists as they will not have polluting exhaust emissions, while noise and vibration levels are much lower than those of the bullet trains. While a number of other countries, including the United States and the Soviet Union, are working on similar high-speed rail transport schemes, the Japanese will probably be the first to bring the "flying trains" into regular service. Most advanced of the three Japanese programs is an airport-to-city project upon which Japan Air Lines has been working for 13 years. If government approval and funds come through as hoped, the JAL trains could be speeding passengers from downtown Tokyo to Haneda Airport at almost 200 miles an hour within three years.

That means the trip that now takes an hour in the heavy Tokyo traffic will be made in four or five minutes. JAL is seeking permission to build a 50-mile track linking Tokyo with both Haneda and the new international airport at Nari-ta. Completed two years ago, the Narita airport is still unopened, partly because local organizations have blocked construction of a rapid-transit link with Tokyo. If the airport were open, it would now take two hours to drive the 40 miles into central Tokyo the high-speed train could do it in 14 minutes. The Japanese national airline is getting into the railway business because traffic NOW AVAILABLE Kelly Girl 683-2401 a central track of aluminum-coated iron.

The trains would operate on one-third the electricity of a conventional train. But construction costs are staggeringly high, and JAL is seeking both government and private investment. A 40-mile track between Tokyo and Narita would cost at least $1 billion. Further off is the Japanese National Railways' 300-miles-an-hour train, which is to be put through seven years of trials at an experimental centre in Kyushu. An ultra-high-speed train is currently the railways' major research project.

For the trials, a 43-mile test track is being built at a cost of (44 million in a sparsely populated rural region. The main argument for producing the ultra-high-speed train is the near-saturation of the bullet train service between Tokyo and Japan's second-largest city, Osaka. These trains run at 100 miles an hour, with departures as often as every five minutes during peak periods. Passenger capacity on this service is expected to be surpassed by demand by 1980. So the ultra-high-speed train could be the answer, covering the 343 miles between the two cities in little over an hour, compared with the bullet train's three-and-a-half hour trip.

Third Japanese train-of-the-future system designed to float on a magnetic cushion is a projected urban and commuter network. This is being developed for Japan's transport ministry by three major electric machinery manufacturers and is planned along lines similar to the High Speed Surface Transport. Doesn't this all put Vancouver's stumbling approach to its transport problems into perspective? Smack into the bow-and-arrow age. is fjj MR. JOHN HIEBERT 80 per cent of available capacity.

"Capital investment is being curtailed as new production facilities are deferred or even cancelled until more assurance is forthcoming that an adequate return can be assured to the companies on the capital investment." He said the steel imports are the result of foreign government policy dedicated to exporting unemployment to North America. "Foreign producers and their governments have recently entered into mutually attractive agreements which are aimed at protecting their home markets and forcing the excess product into our markets at unrealistically low prices, in many cases, at prices lower than their production costs." Gold auction announced WASHINGTON (Reuter) The International Mone-tary Fund announced it will auction 525,000 ounces of gold June 1 in the latest of a series of gold sales to finance a trust fund to aid poorer countries of the world. SAULTSTE. MARIE, JohnMac-namara, president and chief executive officer of the Algoma Steel says it is vital to retain tariffs now providing a measure of protection to North American steel producers. Speaking Saturday at a Rotary Club banquet, Macnamara said foreign imports are costing Canadian and United States steel producers billions of dollars and thousands of jobs.

"The combined effect of foreign steel imports coming into North America runs into billions of dollars of lost sales revenue and upwards of 85,000 workers who could be employed in the steel industry alone," he said. Canada and the U.S. "find themselves as market outlets for the overproduction of off-shore foreign countries whether it be in the form of steel, textiles, clothing, electronic components or other manufactured goods" Macnamara said steel imports are rising to the point where their impact on domestic production is restricting annual steel manufacturing rates throughout Canada to 75 to FRANCHISE INVESTMENT OPPORTUNITY OWN YOUR OWN 2ND LOOK STUDIO We are accepting applications from people with drive, well above average income needs, responsibility and a desire to build a rewarding retail career. Persons with previous business, selling or retail experience will find this opportunity exciting as the emphasis is on management skills and the ability to satisfy a large and diversified group of customers full training provided. 2nd look Studios concentrate on the retail merchandising of skin care make up artistry and designer wigs with world famous exclusive products and a chain of over fifty studios across Canada.

This is an opportunity for you to combine talent, beauty and business to achieve a high return on your investment. Apply now for a 2nd Look Studio Franchise in Vancouver Oakridge Shopping Centre; and the soon to be opened Lansdowne Shopping Centre in Richmond. Phone Mr. B. Palfreyman, Area (604) 682-3191 or apply in writing to: 2nd Look Studios Incorporated 444 Dunsmuir Street Vancouver, B.C.

V6B1X9 Norman Macrae, deputy editor of The Economist, of London, last week came up One only, aggressive, young man eager to fill construction Management position with General Contracting firm. MR. JOHN HIEBERT, currently General Manager of Dure Construction of Victoria, B.C. has prior experience with The Foundation Company of Canada where he held positions as Contract Manager, Superintendent and Project Manager on nraior downtown Vancouver protects. Mr.

Hieberf, a B.C.l.T. graduote, has also been employed as Project Co-ordinator with Oawsoa Developments and an Estimator with Dominion Construction both of Vancouver. Willing to re-locate preferrably in B.C. or Alberta. Further inquiries or request for references, or resumes should be forwarded to Mr.

J. fl. Hiebsrt, co P.O. BOX 40, Saanichton, B.C., VOS I MO or call 652-1185. tmnco Skin Care Make-up Artistry Designer Wigs There goes another tax-free benefit (For simplicity, we're assuming here that the employee would keep the entire $ldu00 loan outstanding for all five years.) Revenue Canada promises an interpretation bulletin on the subject "in the near future." Mike Grenby ONE BEDROOM APTS.

SALE Price Reduction Break Fridge, Stove, WW Carpets, Drapes. Close to Kingsgote Mall. Moments From Downtown. Qualifies for Tax Shelter for Information 4 Appr. To View Call: At Tom 2771240 or 437 0671 NoontmM.

30 7 A. WmsSt a It's time to bid a fond farewell to yet another tax-free benefit the low-. interest or no-interest employee or shareholder loan. Starting Jan. 1,1978, the employee or shareholder will have to pay tax on this benefit "The department's view is that an employee or shareholder who borrows money at less than a reasonable rate of interest receives or enjoys a benefit," says Revenue Canada, Taxation.

"The value of the benefit will be computed as the amount by which the inter est paid by the borrower is less than it would have been had a reasonable rate been charged. "In view of the variability of the interest rates, the department considers a reasonable rate to be not less than eight per cent a year." For example, if an employer gives a $10,000 loan to an employee for five years without charging interest, the taxable benefit would appear to be $800 a year. So the employee would add that $800 to his income each year. UY 1 rW While prices are still low MOBILE HOME LOTS on. Private Golf Course on Tri-Palm Estates PALM SPRINGS, CALIF.

Quebec gets loan of $300 million mm Playground of the stars The loan represents one-third of the government's borrowing program for the 1977-1978 fiscal year. Tri-Palm Estates is a fully developed mobile home community. io miles east from the centre of Palm Springs, El PROFESSIONAL SALESMAN Workaholic Closer! Now am S36.0M per yr. in Hie automotive business. Very frustrated, ambitious with a eeed to further my talents.

Not necessarily confined to just so peaceful here. There are so many tall trees. And there's the music from the little creek. What we like best of all, is just opening a indow or door and listening. You know we really agree with them when ihey say 'Living begins at Laura Lynn'." Mr.

Mrs. J. Hardy (Laura Ixnn residents). Laura Lynn is a unique grouping of distinctive homes in a private forested estate, featuring: tennis courts, heated swimming pool, equestrian centre modern stables and an indoor riding arena), secluded lake and a rustic country lodge. Laura Lynn a perfect retreat from the pressures of city living, yet only 20 minutes from this field.

Box ISM this paper. sjbV 2 Pools Golf Course Therapeutic Pool Cable TV Security System Shutlleboard Club House Paved Streets All Utilities QUEBEC (CP) The Quebec government contracted a $300-million private placement in London Monday, Finance Minister Jacques Parizeau announced. The seven-year term loan carries an interest rate ltt per cent above the London Interbank rate for the first two years. For the five following years, the rate is 1 per cent above the interbank rate. The loan will be repaid in five half-yearly ments of $15 million, followed by five half-yearly payments of $45 million.

The payments will start 30 months from now, Parizeau said in a news conference. The loan was underwritten by 12 firms headed by Orion Bank of London, one of whose shareholders is the Royal Bank of Canada. Lot prices start as low as downtown Vancouver. Weed from $85,000. If you already have a home, you could make a trade with us under our guaranteed Home Purchase Plan).

i do 6090 "tW, J9 ft I OigCTHf MvggHtwotcogST I i -ssMesssssesssssselsjj WTH STREET INGBBGI Only 25 Down (US Funds) COME FLY WITH ME NEXT INSPECTION TOURS i MAY 19 AND MAY 27 CALL NOW for fuH information on how to be our "weekend guests" Ken Varke Jim Miller 524-9511 JCEGOLD GREGORY CARROS, Frew- dCM? IS ptflOeMtf to WHNNMCS the mppoimimmtt 'ci Jo Gold to wr I.C.L Omm 1774 WJit BfiMKhvOyV Vancouver. Jot brings wrtfc km HMWibor of TOOTS of SHCOOBtflrf fOSfdoO ntot ostato) ootot. Jo looks AS PUBLISHED Financial Corporation interested to purchase Mortgages, agreements f-r sale, or mortgage portfolios. Reply to Box 1602 this paper. to sorvjoa Off SALES OmCE; 861 FREDERICK ROAD.

NORTH VANCOUVER. PHONE 986-1 141. HOURS: WEEKDAYS HAM TO 8PSL WEEKENDS 12 NOON TO 6PM. Sthe Permanent 733-8181 (Bm.L inaonni CANADA PERMANENT TRUST 1.