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“ STULENLS. ESSLY ;
. For Malcolm Island students, the
University of British Columbia would

most likely have the best location.

The students would have to write for
information regarding subjects. At the
University of british Columbia, the ye
yearly feeis two hundred twenty six
dollars. The books sould cost thirty
Gollars. ft this rate, it would be
possibie to attend university at seven
hundred dollars per year.

The sehool like at a university at
is ideal for the average teen-ager,

There are many.types of sports and
physicial training which may be chosen
by the students. There is also.zreat
social activity whichjhelips:to prepare
the student for later adult relations,

There are many different. degrees for
different courses. In university, there
are scholarships for workmanship. .
Sometimes they are sums of money and others

others are trophies.

After university comes the actual test
of the students abilities. He gets a
job. A good record card helps a great
deal. In appying for a job it is better
to go in person. He should wear .
appropriate clothing and. also have a.
pleasing disposition. ;

When on the job it is important to,
nave good work habits. Efficiency to.
haveand speed are very important in most
jobs. To keep a job, a person has to be
able to get along woth others. For
promotion, a person needs ambition and
patience. The.loss of a job might mean
very much to a person*s future, and thus.”
it should be avoided if possible,

.

HUMOUR
‘Women Drivers

Two next door neighbours, a man
and a women, were in a car accident.
then an argument started as to whose
fault it was. The women claimed that
it was all her fault. The man said,"No
it*s ali my fault, I saw you leave the
garage this morning and should have
known better than to be on the road
myself.

Peess Ciippings

(Courtesy of Vancouver Sun

Beet, BO

iA thers gt
LITTLE FELLOW ON TOP

pointula Co-op Beats

Tax C#ares

OLTAWA, March 13-{CP)- A
co#operative store in‘a Jittle
British Columbia settlement hes won
a tax dispute with the federal
g2o¥ernment- involving the disposition

Of hundreds of thousands of dollars.
- +, The Income Tax Appeal Board

ini @ judgement mae public here.
ruled that a co-operative which

acts as a bank holding its customers —
money on deposit is not borrowi xg
capital but accepting a cebt which |
has to be paid eventually.

in making this ruling, the
beard found in favor cf the Sointula
Co-operative Store Assoclation,
operating a general store in the
Sointula settlement on Maliccoim
isiand, near Alert Bay.

‘the settlement had no banks or
post office and residents a- got
into the habit of handing over’
thar surnius cash to the store
for safekeebing, the: judgement said,»
=nedersszse The deposits were
hoted in a little five-cent notebook
whith served as a pass book.
Deposits and withdrawls were -noted
in ink,

The store gave no interest

.and charged no fee for holding the
moneys © :
In assessing the store, the

federal Revenue Department disallowed
$89,300 in i946, $109,369 in 1947,
$128,900 in 1948, and $130,400 in
1949; The store sought to reduce
these amounts from the caleulation

of working, capital. In co-operatives
capital enters into calculations on
income tax payments,

The deptment said, however, thet
customers’ deposits were borrowed +
money and therefore not deductible —
in determining capital employed, -~

, The board disagreed. The-
money deposited would “certainly
appear to create a debt ultimately
payable.” In a very limited sense
said the board, the store was a
private banker, but not for reward.

it appeared also that the |
Revenue Deptment assessors had gone
"astray" in their decision and the
"appeal therefore was allowed.