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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - December 27, 1912, Lethbridge, Alberta LKTITBHIDOH- DAILY A.VNVAL UNION BANK of CANADA HKU> IT. r 4SIU aiiiuul iseneuil uieetlnn of the shan-holders of the Union Bank kf Oankda Ihe banking: house in Winnlnej; on IT Decem- UNION BANK OF CANADA Forty-eighth Annual Statement 30th November, 1912 PHOKIT A SO LOSS ACCOU.VT at credit of account, 30tU -.November, -1C! 1 KM profit for the year, after di'dncliiis expenses of management, Intercut due depositors, reserving for interest and exchange, and making provision for bad and doubtful debis, and for jHbate on bills under discount, have amounted lo (Heine1 Mllghtly over 14 per cl'iu. ou the average capital rturlojj the yeur.- PleiniHm on new atoct Which has been applied as follows: Dividend No. JflO, quarterly, 2 per cent..... Dividend No. quarterly, 2 per cent..... llividend N'o. 102, quarterly, 1' per i-cnt...... Dividend No. 103. quarterly. 2 per cent. Transferred lo rfliU account TniMfacred to account premium ou new off bank premises account UIon to officers' pension fund' of profits carried forward slock I 47.9SU.OI) them prndenlly imd'Bnfely-iii foatiTiug Ihu "nil active undt'i-taUnes of eiiiiunerce, of manufacturing und of rut-mini; .Tho lleneral .Mauaser. '.Mr. U. II. D.'ilfolir, addressed .the lucelliij; affords me much pleasure to welcome so many sliar holders as are piwnt at this, lhe Ulililnil innetliig lo be held In the ue homo uf the hank. The lafgi- number is an evidence of Interest man tested in the welfare of lhe Institution by its western shareholders. The reasons for milking the chanse in the head ollic-o liarv been full explained by tin- I'residenl. 'lhe wisdom of Ihe course adopted lias been always I'nllv concurred in b personally, and. Indeed, iis necessity had beoeme- very apparent durln lhe past lew years owing lo the rapidly iucreatiliig volume'oi' business tram by the hank in these western provinces. The President has given you .some figures bearing on the Keueral oxpai mm of ihe nank's position during the past elsht years. It may, however, prove inlcrestins to you to learn in this connection tha wli 1st the hank had eighty-four branches In I1KM, on the aotli November. 1912 it had i wo hundred and clshty-live branches, and lhe number of olliuial cmploytn: had incriased from 420 to I.SST In the same ni-riuil. These (spures must bear convincilli; testimony- to the steady and i-xnausioii made in Ihe past niphl years. Of these new branches, have been of the Great Lakes I'onjparins the figures in the balance sheet now under review with those of November HOtli, ISI1. U will b" noted Ihat the deposits have increased b> namely from to These an I siibscrihed capital' sloi-k has tievn fully paid UN di'iiin- the vt-ar a f non stands The i-rsi account has been increased bv briiming it up Id I or IX per cent, of Ihe paid-up capital of the hank Tht lolal assets are Sll.li-.io.oeti Bi-entc-r ihan in ijll. This is largely neconnieil tor by the increase in the deposits above referred to. Kearins in mind the exceptionally heavy expenses incurred duriufi UK year incident lo ihe transler of the head otlk-e from Quebec to Winnipeg, and lo ihe opening of so nmny new bram-hee. we are well aatislieJ with the result Friday, liivested more. 75.4S3.7li UNION BANK OF CANADA Winnipeg. ANNUAL BALANCE SHEKT 3Mh November, 1912 rfotei at bank in circulation DepwtU not bearing interest Dspoftits. bearing: Interest........ j In the miilter of steel chests alone, the bank has up to ilai i than all of which has been paid for out of its nroftis Coining to lhe assets, it will be seen that the liolillng ot ami govern- ment noles is more than last year, being ailcii'tlonal cash reserves held nsainst increased liabilities in the nature of larger deposit? -Votes and cheques In other banks in Canada whilst SI IIW.HOO In excess Ol 1911, merely represent the daily accumulated items for exchange with other banks. The additional due by asenls in lhe United Kiimdom pertains to money loaned in London by our branch there. The hank has increased its holdings by government, municipal, railway. and oilier debentures'and stocks during the year by and ils loans and bills discounted current bv Jil.OOO.OOd bring these two items up ti and respectively. This is in the nature of I general expansion in the business of the hank. It was then, moved by .Mr. John Gall, seconded by Air Price and -If. K. T. Itiley that ihe. report of tbu directors now read be adouted and Ulstribnted amongst the ey a ie. report o t 711 53400 amongst ihe shareholders. It. T. Rlley spoke as follows: Baitutees to otlxer banks in Canada Bnlancee dm to agencies of the bank and to other banks Iii foreign countries......................................... Touil liabilities to the public up __ 7.1.04S.OO lfi7.337.C3 2 I tor rebate of on bills discounted No. U13 Dividends unclaimed......................................... BaltDce of profit and loss account carried forward Tri.4Sa.76 ASSETS Gold wid allver coin.......................... Dominion jfovernmeat. Deposit with Dominion government for securitv of note circula- Notes and cheques on other banks........................... Balances due from other banks in Canada Balances due from asents in United States Balances due from agents in ihe United Kingdom Government, municipal, railway and other debentures and stocks {.'all and short Iwtns on stocks anil bonds 'I have followed with as much interesl as anyone present the verv able adilress ot the President. I.Ike everything else Hint lie has undertaken 'it has beeu vvll done, and yon can accent with confidence every statement made and be assured he. nas the endorsation of all his colleagues on the board 1 am glad we have with us today some ot our "friends from Quebec .Montreal and Toronto, who doubtless hold the proxies of many of our eastern stockholders. The bulk of our stock is held in tile east, and Twjsh to empha- size the fact that when Ihe wise men of the east referred io by -Mr Ualt saw the star of prosperity arising in the west and followed it' they did not abandon everything for this new have their succes- the business of the Union Bank in the east is larger today than ever before and will In no way suffer by reason of the removal of Ihe head- quarters of the bank to a point miles nearer tho centre of its activities; but there will be a well balanced extension all over the Dominion of Canada, with the centre miller than the extreme east as headquarters The six months' experience your Winnipeg directors have had of head- quarters work has been sufflciem give them some of their new and ncreased responsibilities-responsibilities not accented without some hesi- a. bank is something more than an organization for making monev il.-- -s- is organised and intricate piece of machiner'v i :IV of "le public to facilitate the conduct of business-L v-n iiui> nn i h swlal privileges, and it is just as much the dlltv of I nfinn'r I I dlreclors a to to il prlvlleees are not abused, ,is it 4 40- 1 after all, own but percentage of j i through- their irhuds. i '-'kl' i'lvsidelll. I lake a very hopeful-view of the future. 'Our share- d 'I'hl'f shown by electing a majority of their diieuois ,11 this city. Ihe west has always been well so LI Present lime. It was never quite so "wild and wooih- as reputed, nor is H now so extravagant and speculative ;is described bv some Unreserved AUCTION SALE Farm Stock and Implements MONDAY, DEC 30th, at 1 o'clock sharp 'AT N. H. MURRAY'S FARM, N. Half 31-7-20, one mile weit Wilson Siding 1 Hlaclt aeldlug, aboiit ifiOUIbn: Abo. 12 years old. 1 buy gelding about l.'OOIbs; Uun, II years old. I llay gehllng, about llf.oms; Lee. 10 years old. 1 Hay gelding about I200IUS; Jim. S yearn old. 1 Sorrel gcldlns. aobnt KHIOIlia; Dick. 13 years old. 1 Hay mare about HOOlbs: Queenle. i) years old I Sorrel about Duke, 'lo years 'old. 1 Sorrel Gelding, about KlOOlbs; Prince. 10 vears old 1 Drown ilare. about MfiOlbs; Laurie. S years old. 1 Day Jlare, about laoOlbs; Jessie. 7 years old. 1 Hay Mare about KlOOItis; Bessie. 10 years old. 1 Bay Gelding about HfiOliis; Prince. 0 years oli! 1 Hay Stallion Colt, about 700lbs; Dlx months old. All teams with harness. Three lumber wagons and 'boxes, Two Seed drills; three disc harrows. Three lever tooth harrows. Two Kmerson sulky plows. One Verily gang plow- Two -AlcCormick mowers. Two Deerlnc L'Ssht-foot binders Ono hay rake 10 ft. sweep: one hay rake 12 ft. swem, One 12-fooi corrugated packer One walking plow. -ALL MACHIMSny GOOD ORDKlt. A snap for hometsoaders or anyone in need of any fmtha Terms on Stock and All sums of an H. MURRAY, Proprietor J. A. SMITH, Auctioneer. 800 acres, all of Section 13-7-20 and N. W. 1-4 12-7-20. 12 miles from Lethbridsi! on C. P. R. Terms 1-3 cash ba -eu-t. suit p-ssi EVERYTHING WILL. BE SOLO WITHOUT RESERVE is ma so M.TSL'.OtiS.OT ii.o45.47ti.07 NEARLY ALL EUROPEN COUN- TRIES IMPORTING BROOMHALL MARKET LETTER Other leans and bills discounted torrent Overdue debts (efUinuued loss provided for! Beftl estate otlior thau bank premise -Mortgages on real estate sold by bank .___ Bank premises mid fnraiture Other 5jtsets.............................. ,L so cMi-avagant and sllecqlative ;is described bv some it is true ihe westerner spends some, of his money freely and foolishiv prob- '-lve''POol- Dec. dull- rfliiy, because he makw U easily, nut-there is underlying tho western com-1 "ess has prevailed the markets dur- Jnunit: aa element of good Scotch conservatism introduced by the the week, but prices generally JMJ i.oril Selkirk this sorul Srotr-h t-ranito hio IhpM .fh-n, ...j..." this good Scotch granite" has G. II. BALFOUR. General -Manager. e yeur the head office of the bank was transferred from Quebe( Ba r II11S toCOICIl gl !ha If of our commercial life Here, and we 1 OlSat'f'-n i of "an'y "ie a''Vice ew-'t Phraseologv .js'i'-n1-- interpreted into the vernacular is on sure you are right; then go aheatl.." seconding the adoption of the report -Mr. Pra-e. of Quebec, expressed the pleasure that it gave him as lhe eastern vice-president, in visiting Winnipeg ,o meet wit, "he we tern ahareho ders. and stated that the eastern board in handing over the control to u-HaforTi _.. ...I.. b uici vne kulltlul lo Durln, to. Winnipeg. u e goo hands be ca DWV 'nlm ni-tev Durinr the pas. year forty-rhree branches and agencies of the bank have j veloumen, of (he ref'um- ?o, ?c1ine 13; Alberta, .vith wpmem llf, close 'jail, Messrs. W -s. ex- Gennr.ny. continue to purchase assistant general liberally, with no serious jtions. It is uncertain whethei many will need to buy hu-ge o purchase i accnmula- Jlr- '011" (ic-r- an- tities of good wheat bni it is assured that she will tent of last continu noi cyitribnting largely. export lo the clir. World shipments liberal with America we should be able, not only to supply om- own need-- '-ilso logman' larse scale. Wt mimt. look to our agi-ii-ultural prodne'ls in n-iv the our obligations, and tinally to lliinlda'te them. i i in good deal-has been said about snecnl-nion land. The increase in values has added j MR. PALMER MAY j ENTER AN APPEAL It is understood thai .1. R. Palmer, 'acting in the recent gambling (re- Nlieniers' cases, will appeal to a high. It will he remembered Ihiit. HARRY GOOD COMING WEST Toronto, Out., Dec Hood, one of II Is gratiCylng lo note, that lliere is every Indication of rantlnin (1 nroa in Canada. The racier of our business shows .that condi on healthy basis, and wo expert to have mil m for Hie enip oy S wv Mm k ,j so :ns" "Uiegilard the interesls of in-'1 was also 110 evidence lo the whirl, the game played -in unlawful mt upon a i-real bank ol laklns care of the savinBs of lhe people, and of some, and .otilw ,rounds. are tlinl Hie conviction is for two al- U'rnatlvn irffcnt-cs; that there was no evidence ihat houao wna :i house lipt1 for giiin. and that there was no evldelice that persons reaortail lo the house for the purpose of gaming. Fnr- .Mr. II. M. the oldest newspaper i men In Toronto, will say good-bye lo this city on the when he leaves in take a uosllion on the Winnipeg- Telegram. .Mr. Gooil has had large ex- perience in the newspaper world dur- ing nearly fifty years. THE LAST LINK Ottawa. Out., Dec. Uli. expect- ed Ihat the last, spike In ihe Transconllnc-ntnl, between Winnipeg und Corlirniic. will be driven by Sun- day night. This w.III mean that the first wheat i-rain from the 'west, now waiting at Superior .luncilon should pass Ihrough Toronto early In tho week. TO GO AFTER THE ROCKEFELLER INTERESTS London, nee. Sir .Marcus Sam- uel and his assistants who control the Shell Trading company, ihe rival of the Standard Oil Co., so far as the oil trade goes in the British and Kastern market have just organized a new! company to build a fleet of monbler1 ships. Some lime ago Sir Marcus Samuel! ixpressed his intention if he could not ,-el. British ship owners -tu make' wider use or internal combustion en-. iirif'S to build and operate a niinilu-.T i >f'motor ships and Ills purpose is rlod out In this new company which i has a capacity of gallons. j The vessels will not engage In thej carrying of oi! for the. Shell oornpany liut will ho in lhe ordinary carrying trade. Some of the ships are already under construction. i UNRESERVED AUCTION SALE ------OF------ Blacksmith Shop, Tools, etc. Monday, December 30th At 2 p.m. Sharp, on Second Avenue, South near 13th Street, by, W. L. WILSON, AUCTIONEER The buMJiesK lately conducled by K. is retir- ing from tmsinnss, l will sell tho following: I lloyjil blower, forge, drilling machine, vice, lire jumper, set of ami elks, yrhidstoho, ImU rlfppora, n (imtntlty of now horse shoos ami nails, and many nthor (oole generiilly usttcl In ;in nn-to-dnte lilac.U- suiith Also tho shop, LU x !M, nmirly r.cw, will be sold. Al-jc tho- following: ride and drive. 1 bugijy. 2 sots of Kiiitthi ItanifiS! Two 2-whecl onrts. TERMS CASH running goa.1', 3" ly No Rcsorvo rts Uio n ncsa. AUCTIONEER'S OFFICE 1023, ;