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PAGE 10,WEDNESDAY DECEMBER 28, 1983, WH ITBYFREE PRESS '83 IN, REVIEW Attersey vows to fight for Whitby's $1 Millio Free Press Staff Mayor Bob Attersley has launched a cam- paign to retrieve more than $1 million theUiwn has invested in Crown Trust, one of three com- panys whose assets were seized early this month by the provincial govèrrnent. With the support of council, Attersley had a writ served to the Com- pany early lat week. ."The writ makes con- firmation of the debt owed," Attersley said. "Our legal opinion is that it doesn't neces- sarily mean we'll get our money, back, but it increases the security of jur position." Attersley said late last week the town had received no response to the writ, but continues to monitor the situation on a daily basis. 'Whitby Whitby's, involvement in the fifiancial troubles of Crown Trust Co. en- ded Monday when the town's treasurer picked up a certified cheque for The town retrýieved. its $1 milion short-term in- vestmenit plus. interesi on* the company's. first working day since being bought by Central Trust Co. of Halifax last Thursday. "Somnehow 1 didn't ex- pect to get the interest as well, but we did, " an obviously pleased Mayor Attersiey said Jayees- Jayc -ettes c elebrate 6Oth year The Canada Jaycees and Jaycettes have es- tablished the week of Jan. 31 to Feb. 6, 1983 as "Jaycée - Jaycette Week" to observe the founding of the first Canada Jaycee/Junior Chamber of Commerce chapter on Fefr 4, 1923 in Winnipeg, Manitoba and to commnemorate sixty years of con- tinuous service to Cana- dian communities. The Jaycee-Jaycettc organizations are a nationwide association of young men and women between the ages of 18 and 40» with the purpos,ç of develop- ing individual abilities and stimulating the joint~ efforts of young people for the improve- ment of the economic, social and spiritual well- being of-mankind. Your Jaycees and/or Jaycettes have contri- buted much to the bet- ferment of the commu- rtity, through their numerous and va rlous programs and projects. The serving of a writ is established business practice, Attersley said, adding that if another company offers to buy Crown Trust, the debt to Whitby will be officially recorded.' The town': $1 million short-term investment matured Jan. 21, and a< that time the town tried to 'withdràw the., fulI. arnount of the invest- ment plus interest. "They offered, us $20,000 and told us to rol -the balance over to the next 30 days," Attersley said. "But we refused. We s %d e want our million dollars. " He said he is commit- ted. to retrieving the tax- payers' money, even if it means a court battle. But the fate of Crown Trust is still as unsure as ever. Consumer and Commercial Relations Minister Robert Elgie- gets $ Monday. Investors have been unable to withdraw more thanà $20,000 since. the Ontario government seized 'the assets of three trust companies, on Jan. 7, 1983. But Cen- tral Trust made good its promise to conduct busi- ness as usual after pu r chasing Crown Trust last week. Whitby's $1 million short-term investment matured Jan. 21, but at that timethe town was told it could only with- draw $20,000. While he would not release an exact figure, Attersley said the town sKcizapproxiniately $2.000 to secure iLs in- vestment when the fate of e company was unknown. The town hired a- Toronto !awyer and served a writ to the told the Commons last week information was being withheld from government investiga- tors rying ,to sort out the finances of the three companies. The companies, in- volved in the complicat- ed sale of 11,000 Toronto apartment units, will not reveal the where- abouts of a $100 million downpayment. The governrnent has asked for approval to in- troduce legislation that would allow Crown Trust to be sold almost immediately, but oppo- sition parties say they need more time to study the matter. In the meantime, municipalities and indi- viduals are waiting to discover the fa te of their investments. "We aren't going to sit back and say, 'The pro- mellio company late in Jan. uary. "We will have to take a look at. if, but 1 don't think you can just take one swat with the brush and tarnish alI trust companies," At- tersley said. 9 Itis normal procedure for municipalities, to invest funds collected through means other than taxation.. Whitbv was one of 22 munici- palities in Ontario with investments ii Crown when if was taken over by the Ontario govern-- -ment. vince will take care of it',0" Attersley said. "I'm glad that council has decided to go out and protect the peopleof Whitby and their tax dollars. Heli, we've got $1 million in that com- pany! P Referring to the col- lapse of the British Mortgage company fin the mid-1960's, Atter- sley said, "Lt bas hap- pened before. . . don't care who owns the com- pany, we want our in- vestment back. " .BLE NTENNR 668-6901 ERVICE 513 P.rry-St., Whltb I Magnavox Sales &'Service h Ut 44PPYV ~, Ï1WýYEAR o What ever the accession o ~WeIIlGet You ~There On o ~ Ride Like Royalty" IM CROWN LIMOUSINE 5 a SERVICE im t 7Passenger Cadlliac Limos etyour service ' IR Cali1723-2710 OUbIi~iN hP Àwth our wish Sthat this New Yer bethe best ~ OÀfor you in every wayl p Whitby Homo Bakery 141 Brock St. S. Whitby 668-.358~ JOU blýqb% The ifuture Iooks promising -Mar itbin ou the betofthingsf KEN'S SEWING CENTRE S Midtown Mal 200 John St. ~Oshawa