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JULY 9, 1970 Statement I TERRACE BAY NEWS THE MUNICIPALITY OF THE TOWNSHIP OF SCHREIBER HYDRO-ELECTRIC COMMISSION BALANCE SHEET DECEMBER 31, 1969 ASSETS LIABILITIES Revenue assets: Accounts Payable $ 7,743 Cash - $ 19,532 Investments, at cost: Reserve for equity in Hydro- oe Bank of Montreal deposit receipt - Electric Power Commission of 63% due April 29, 1970 $ 15,000 Ontario 117,956 Government of Canada 5% bonds due A Surplus June I, I97I (market value $4,800) 5,000 20,000 Debentures redeemed : $ 50,000 Accrued interest on investments 676 Farned surplus Accounts receivable Balance at ~ : Customers! accounts 1,950 December 31, 1968 $126,328 Leas allowance for doubtful accounts T00 1,850 Net earnings for year 5,108 131,436 . 181,436 Inventory of supplies at cost 2,738 Total Revenue Assets Capitel assets: Land and buildings 8,542 _ Transmission and distribution system 194,133 ; i Equipment 16,733 Less accumlated depreciation 219,408 759025 TH 383 Equity in Hydro-Electrict Power Commission of Ontario 117,956 307 ,135 A copy of the financial statements will be available for review by anyone wishing further information. CLARKSON, GORDON & CO. Irene G. Spicer CHARTERED ACCOUNTANTS, Seoretary-Treasurer THUNDER BAY, ONTARIO Schreiber Hydro-Electric Commission. Miss Donna Dean Gray, daughter of Mr and Mrs. Jim Gray, Schreiber received her nursing diploma at the last graduating class from McKellar General Hospital of Thunder Bay on June 11, 1970. Attending convoca- tion exercises were Mr. and Mrs. J. Gray and Bruce, Mr. E. Gerow; Mrs. Burn Jacomb, Mrs. E. Elliott (North Bay), Mrs. Annie West, Mr. and Mrs. W. Gerow, all of Schreiber. Mrs. W. Holland, Miss Betty Morris and Pat Bourguignon, are patients in Terrace Bay Hospital . Mr. and Mrs. E. Beaucage and family of Thunder Bay spent a few days with her mother Mrs. W. Guillett. NEW MINIMUM WAGE RATES FOR ONTARIO The Minister of Labour recently announced increas- es in Ontario's minimum wage rates. The Honourable Dalton Bales said the general rate would be increased from the present $1,30 hourly to $1.50 effective next October Ist, and to $1.65 on April 1, 1971. The construction industry rate, currently at $1.55 - will be increased to $1.75 and to $1.90 on the same dates.