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Lethbridge Herald Newspaper Archives

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Lethbridge Daily Herald (Newspaper) - January 8, 1914, Lethbridge, Alberta THURSDAY, JANUARY 7, 1914 BANK OFJMONTREAl Proceedings at the Ninety-sixth Annual. Meeting of the Shareholders Thu 90Mi Annual Meeting of thn ol Uie Hank of Montreal was hold ut noon yesterday In Iho hoard room at the bank's head- HuarterE. Aniougat those in-osemt wore H. 12. Jluwlliifia, O. -MorrEeo, .1, McK. Ufa, Win. Ogflvlo. W. It. Miller. M. it. McDocigulJ, Alfred I'M- cllnelun, 13. Kiske, J. it. U'.irmunt, .1. Patterson, H. Jllnckatlor, 11. M. tUau- vny, Sir WfUlnui Macdonald, I Inn. Jtohori Sir Ttiomafi, Win. MnMaslei, T. Durnford, I'rnblo Macintosh. C. H. Hlnck, W. H. HvRnft. Jletiry .fortcpli, Ooorge CavcrhUI. Dr. II. Yalea, ti. 1'ostor, J. ItodKfli1. Hamilton Giuilt, C. H. (Gordon, C. Hoamor, Forbes ADKUB, .1. A. Hawthorne, II. It. DrumnioTHl, H. H. Aliens, (jhoptiord. Clmpnl, II.' V. Motedith. r. V. An-hibitid, Nullus, li. (jrceudLilcUIiit A. Falconer, Cny Drimimonil and J. .1. HcttL On motion of Mr. H. Jt. Angus, Mr. II. V. Meredith was rrrjuralifcl to tnke. Hi a chair. Mr. Uarlland II. McDungaH mover! and Mr. A. Piddtngtou seconded, Hint Messrs, H. Miller ami JJavhl km alienated to act as ficrutincorF, and thru Mr. James Ainl bo iho Secretary of Hie meeting- This, was enrrloii unanimously. The (.'lirtlrman then, in the absence of tin- gcuem! called Mr. A. n, Uialihwaitc, aeaistant eon oral to .-pad Uin umr.ial rojiort of''the directors to the shareholders at their OGlh Annual Gnnortil meeting, 1-elU Monday, IJeeoiiihcr Jet. THE ANNUAL REPORT. Tiio Olrecioia have nlcnsuro in ilio Ho port. showing ilio of the Hunk'r, himtnesu for Clio year ended 31st October. JtH'J: Iialnmc of Profit nrnl Loss Account. 3lst Ocfo'rmr, Profits fov tlio year eiuleil Hist October. afte-r ilmtucUijK charges of management, ami making full provision for all had ninl doubtful t'.olus THE LETl! BRIDGE DAILY HERALD PAGE SEVEN paid 1st March, 1913 Dividend. paid let Juno, 1913 Jioiius, paid Ut -luiio. 19KI Dividend, pnlrt 1st September. 191S JjIvJdpijil, pay, -i We 1st Uecenslior, 1913 liomin, payabSe 1st December, JOltt Provision for Flank Premises -100.000. 00 '1 00.000. IHj 400.000.00 IGQ.OOO.iKl -52.-10o.000 00 PaSauee of Profit and Loss forward Since? Uio last Annunl Meeting Brnnchos hayo been opened at points 1n the roUowlng provhices, Stroc-t Xclre Damo de (Jrr.ce Windsor Street (Montreal.) St. (Jnllmrinra, Queen Street Wclland. Tvlan., Prinoo Albert, DritiBh -Luniliy. Waterloo Pall Mall. Tho nt Sufllelfl. Alfa-, iuul B. been closoo1. Tlio Branch at Gretna, Man., desiroyecl by fire, wag not re-opened. Tli6 Shareholders are -aware that the Hank Act lifts iKieii under revision for Eonie time pa.Pt. and n new Act, aa rovisotl, went into force en 1st July, 1913. Tlio nmtn changes are: In tie published statements Hie condition of the Rank la shown in greater detail than formerly, Tlio establishment of "Central Clnld whore the Bank can deposit sold or Hnmlnton Notes mid Increaeo itn circiilnflon a similar amount when necessary. Section BC of tlie new Act you are required at this meeting to appoint Auditors for the Bank and to vote the amount of their remuneration. With deep regret the Directors have to record the death of Mr. James itoss, who had hecn a member of fhn Hcant Tor nearly fourteen years. The vacancy caused thereby was filled by the election of Mr. William McMaster. Tlio Directors Iiave (o record with much regret the resignation of Mr II. li Angus as President of the Hank, owing to his advancing years. I nssociattoH wiUi the Hank will, however, IJG continued ?.f. a Director. Mr. H. V. MererltMi WBB elected to succoed him as President, remaining ulso Chief Executive Omcor. AH the offices of the Hank, including tbe head office, have been fnsnec during the year. (Signed) H. V. MERBDIT1I. Prealdftnt. Jifljik of 1st December, 1313. THE GENERAL STATEMENT, Tlie general statement of the position ot the Hank on October 31, wn3 read sis Liabilities, I'tipUal Stock tttist Halanci! of 1'rollts carried forward Jlfi.OOO.OOO.OU IG.OOO.OOO.OO Vurlaimerl Dividends Quarterly Dividend, payable De- i-ember, 1913 Hmms of Kc, pnynWe 1st Dec., 19K1.. ICO.OCO.OO Xotcs of the Bank in circulation ]Jepos1ts not bearing interest Deposits bearing interest Italance, duo to oilier Banks In Canada to Hanks and banking .Correspondents rise- whore tlirin in Canada Itills payable M9.S08.13 3 3S.COMiJS.30 KSH.130.i3r. tit9.HOH.lif. uniior rs o( Credit r.niri coin current..................S novernmcnt demand notes JJOposJt JD Centra! GnlJ Ac-serves Deposit Dominion Government, reijulrcrl by Act of Parliament for security of general bank note circulation Due from banks nnd tanking corru- ''Epanrtents elscwlitro tlirvn in Canada ....................S Call nnd Short Loans in fireat Uri- tain and United Dominion ami Provincial Government. Securities Itallvrny and other Honils, IJphcntnves nnd Stacks Nnioa nnd elK-mics of of her banks "unenf f-oiina nml DlsrcijJiJs in Cauadn ciui claowhoro (rebate Interest ;iu.J other assets r.Qans'to Cities, Towns, .MnniciraliUoh School Districts Of'bts or otherwise dPbia not npcclnlly scolived (loss pro for) nt Moiilrrral nnd ilrannhcis unilcr Le'.tors of Credit (R.S per Contmi H. V. MKREDITII. General .l THE PHESIDENT'S ADDRESS. Mr. M.jodUh, in movijij; tliiit Iho directors and the uo> ;onnt8, ns resit, no acJoptcd and tho lamo he prime J for Ihc Blmrcboldors, said: moving the adoption >f the Directors' Report, 1 ivIIJ J'pfcr :o tlio clianges which have token place luring the year in tho balance Sheet, i copy ot Tvhlch lias licen fih'itlAlieil FOU, hoforn to and Innucfaf oondittcns. Tlio Iliink hns anoiiicr good yenr anil its has well imiluiniucvl! I'hn Aiithorlztul Cnpilal rrmatiiR nt (bu nt JU.UO'JjOUO, and t5ju Heft at f ono. Out of net earnings, which, for 'Iho yonr, amounted lo Jii.iilS 402 Sfl tmnsferrvil to find Lass Account, bringing ihnl nnco up to and tliore has boon get aside for Hunk I'romlFos Ac- ccmit durlni; the year an wmmint of A Komis of I'per cnnt iuis paid to shareholders on Ut June, ami 1st December nml above the ciunrtorly dividend of cent, npposlls not bearing Internal remain prar-.tirally undinngeil. InteieM hear- deposits an Increase, of A iwrtlou cf tliese I., always tif a temporary nature, but I r.mi jilfMs- eil to Hiiy that. noiwirh.stamllns ill-" met that cousldciabli: aunii Lavy been wlthdi-uwn during Uio year for invest- ment at tlio templing rates prevailing, tho tifcgregate of the Savings Dunk ling bi-wi woJ] maintained. Turning lu our assotB, Uio current loaun and discoimlH In Canada and eleeivhcto and other assets, amount- ing to J1SI.1GQ.000, uliow litcreasu or caused hy taking on now ;iml Ly tlio increased legitimate of our CUR- tomors. Investments m railway and jlbor I nml 5 aro Hank premiss, Montrvul ami Iminchos re- main nt Call and' other loaiiB in CJrcat and tho United Rimes aro is ycs'tr K-Jilcli floJuctloji, j JS.OOO.Wjrt from for- L correspondenIF and agencies pf Hank imisltif of Canada, lies boon I to provido for liu'rcahed do- fit nur Cirmdtaii customers, mentioned riiove. Our bills imyablo amount lo as rninpaivil wllH .C Jis ;il iho sin no hint year. At (but linn-, however, the :imuunt was a.s a contingent liability instead of ineluder] In tho Ciencrtil Stntcincnt. as nt present. delayed rlccorinlal revJaion of iho Fiiinlt Act was flu ally completed ut tho last session of Parliament. On tho the new measure may be characterized not cnl> as workable as preserving the fundamental prln- of jiast laws, but well tJeslRii- to promote and Bnfoyuard tlie irv restfl of the public, which. 1 necil arcely add. are Mentionl "n. iih the teroRls of the Hauh. As tho measure WUH u ius one, i tiiink 1 am at liberty to arid my tribute of praise to thci I-'i- iico Minister, Hon. T. White, for tho verj manner in which lie supervised iho revision of tho Throughout ihe protracted discuaaion of tiin Hill, lie exhibited a thorough of the subject and a keen dosiie to Jii.tko tho conform PS fully as iKJBsible Io tin: needs of the nubile, tho safety ami stability of tlic Imnks. The General Situation. In regard to Iho general situation, ,o yrar 1913 may ho truly described a mcmotablo one. In GrOEtt Bri- tain it has been disturbed find disap- pointing. The demands of borrowing countries, both oltl and ncWj havo out- run capital Biijiplles, and thort- has been ever IncreaMng dilOculty In ohCaininb' loans, however sound tho security mjglit bo, and, when obtain- able, the rules and teima have IJPGH far oueroua tbau for many years As if; well there havo been several factors cotiiliiuing; io yroditcc ibcse stringent the llalkan and re-cord public notations, which, in London alone, totalled not than to the end of October, inclusive of special borrow- ings and treasury 'bills, of whlcji no less an amount than .f.M.OGQ.OQI) were Canadian emissions. Then there has bren world-wide trade activity, a rise in tlie price of commodities, couple-d with serious political disturbances in Trance and Germany, and the con- tinuous nml heavy gold demands of such importing countries ns Argentina. Kgypt, nnd India, heavier re- quirements for liome trade in Great "Britain, and accumulations by joint Etoc-k banks in their prlvotn vaults. Added to all this, tfie position wai aggravated by tho prolongation of tbc Balkan nnd social unrest In Eng- land. In KVancp tlio economic position has heen favorable i-hnn usual. The severe political shocks E tiavo men- tioned occasioned a withdrawal of funds from Oernmny, and hoarding ha been continuous and constant. A vast aggregation of leans tu iliiance the Balkan states and for increased homo armaments still await flotation. In Germany, tho situation shown a'mark- ed betterment fn the improved con- dition oE the ReicbF-hnnk and a curtail- ment of that country's excessive trado activities. In tin; Unlleir Slates conditions throughout that country arc thought to be fundamentally sound. Politics have affected business activities, and with tlio exception of wheat, there Is a shortage of crops country. A disposition to RO and not to mako comniUiisoiilB beyond actual requirements Is apparent, that no undue- utrain is likely to take place but, ratlier, an era of economy, whlph phnuld have- a beneficial eftcot on tlic sUiintion geuernliy. The ey situation ban proverl to lie of greater easo Hi an was at one. Umc expected, nnd tlie uaual fnll strin- gency has not so far materialized. The Vtodpa- cause for the prolonged rnse may, 1 think, bo put down to the early' to meet the con- tingency of dear money, tho slowing ilcwn in general business, nnd Hie depositing ot fiovornment tumla in ttio banks of the WCSL and South. i tnerobr relieving the Eastern, bnnks 'of a portion of Liie burden ot fiimnc- in- the cropa, for which (her ijad been prepared. j contSllloiis in Creal Britain and abroad wlitch 1 have- endeavored lo outline will no iloulit take time to ameliorato, and improvement will probably be brought about by reduc- ed trade' activity gradually releasing money for Investment purjioses: anil hoarrtbfl fumls; the will c[ nucesfllty lie 1 havo thoiiRht it well (o make (hesa somewhnt e.vJemleil remarks regard to financial conditions in oilier and neighboring countries, as tliej luivc mi fmpmtniH hrarlng upon exist- ing comiitlons here. Trade of Canada, Tiie roJnrna of the foreign trade of Canada are not mibatiafactory. Im aro falling off, Iti conaerjnencei of the monetary situation and the curtailment of foreign loans. In Oc- tober the vnluo of Imports cf mor- flinndifle was JS.iiG-I.OOO less than hi tho corresponding, monlli In ivhllo for the HDVCII months ending October, the valno of imports was only In pxcnsa of last year. On tlii other hand, tho export trade Id ox lending, vohie of domestic Urodncta exported In October having heen in excess of the sumo month n yenr nnd Ilio oxporta for tlic si'.voiT months, grantor than in 1012. Thn aggregate foreign trado of Cuuadn fcr EBVBII moutlia oiullnrr wltli Ootobcr wag tcnil.iin4.000, an ngiilnat n yj'.ir npn, n of nml In this I'-erlmi the excess of Imports over domestic exports Jir.s >con cut down from to This trend of foreign ratio In llkelj- to conUuue for some I wo. Tbo balance of foreign trade, an you aro aware, haa been heavily Canada during tiio de- cade. In Uio last nix llacal years, 1m- cxjiorta fn valno by and thin considerable gup us been ma'lo, in certain (Barters, .ha Minjcct of advertio critlclhm cf ,ho country. It la tn he Ijnrni- In iilud, Jiowever, that in this period, 'unaila has oblameil sums money from Oreru HrHain fnr do- volopment purposes of varicns kinilK, A'Jilfli jnojioy )iaG bee-fi Jjnjrorted in tho fni'in of liiii for out of tho proceeds of long- ;onn loans. Now. while those loans mbt ultimately he llqultlutod from riowfir of (lifs luto, 1 ;nay point out that rnran- ivjiiie, only tlie has lo IKJ inot; In other wnnN, tiip ol ropresentJii'vo of tho pro- reeds of borrow ing lias to je balanced only to the extent of the nterr-at on the loans. This Is not. ndccd, tho whole con nine] on of the in any-Bided subject, into whirli ;i va- riety of considerations enter. We moreover, exjitct lo go on widening1 the sap between Import? and exports indefinitely. Our animal charge ItrltisJr foreign loans IB already a formidable item. to be provided eithfrr by or new burrowing. While monetary Con illtl c: is abroad remain a I pre- :ent, tho stream of capital will 'tin less freely toviariis t'anada. The recent in Uia tariff of tho United States can turdly fall LO enlarge tiie of that coun- try to Canadian prorluc-Li. Many agri- cultural items such as eggH. milk, Eve stock, are now on the American rree list; KO are lumber, timber, fish, nieuta, ccal, and made in CannJn. Already the niovtmout of articles to onr Jtelghhor'B markets in incrrjasorl vol- mo has begun, advance in rices haa resulted therefrom, and appears no rc-ason to doubt that our sales to the United Stales will in future. Immigration returns have continued lo bo of a highly oharar tBr, both in regard to n-jmbei Maritime Provinces fienoral confltlloiis throughout tlu .STarllime Provinces for tho year davo neon yniformly RiitiKfat-tory. The farmers have had a year, and all crops, apnrL fnjiu fruit, bavc Ijeon ubbvo I4ic average. Tho flBliins; bren with higher pr'ciM, and tlio lumber wus f.ilr, and prices, on the whole, satisfactory. The output of lha coal mines exccctlod all previous records, ,iutl the tonnage ft plfl Jron ttrciiiict'tl wjis 2.i per cent, greater than last yrar. AJamifaotur- Ing Indupirlui generalK havo ha'l an output np to tho Fivcs-fARo. Railway img not been extensive, but sums aro to In- i'xpr-n..leii pruvtiliny ar Hi. John and Halifax for tho lijlorcotnnlal Hatlwnv and In t'stabllsblriK n car ferry 1'rinco Kdu'oyd In Xawfoiitidljci) the high priffF uhtahK'd ior liavo huliircd a ]IM- iod cf prosperity. Thn building of brunch tinea of railway, the develop- nibnt of Hie mining of iron nrf- nt Hollo Isle, and tho growlh nf ttie Linii paper industry imic ail conditions. North-West Provinces busmt-as affairs nro ls, of rourae. In Thn crop this year lias been larger in tlty and bettor In tliciu ever licfore but tho price nt I? Htiniew'liut loss IT than at the eorrefi- date hint yc-ar. The compar- ative are: EinslicLs HusheU Wheat to Oats 22I.OOU.OOO 210.000.000 ilarfey 2-i.OOO.OOO tho wonderful o' expansion oC the last ten yea IE. On tho other hand the commercial conditions of Canada (n fundamentally sound. Hut j tneKs RH a whole, 1 buvo Raid, con- tinues gooil. Our vast natural ]-e- jiourcps liavo ncarcoly been Errviclietl. j iimnEKratlnn is Ir.rgOj railway con- ___________ biriK'Hou artive, new territory nrd new wealth are UP RESIDENCE: OPPOSITE .10 FILE ON Uffi thi1 confidence o[ Hrlt- nnd fori'ign capital In ts iti onr rfjiintry )H A tftnij.ornrv halt can only refresh Canada fnr tt j Mr. H. U. AiiKua aet'onded thn :uo- lion for nf the report, sshfch t-arrii'il unanirnoiifily. Tiio (M'.ainnan Plated tnal, under the of 'ho now bank act, 1o thife andiiort. .Mr. t'. H llosrncr iherenii and Mi- ii'.ir.tiy Druinntund ihai tlir-r.-- Li? tl inrs oi ihe Ilaiih to Imlil d Uic- :innual fi-nfiral nit thai this meeting rto now to th.eir nnminaiion npiiointment. Mr. 11. fiojciru moved, and Mr. U'jn. Fecondeil ihai tliu rc- riMiuor.ition of Uif rtiKlUor.i to [liolnlc-d bo nut more ilmu io may hn LAND OFFICE IN SPOKANE UNT'L JANUARY tG Wftsli.. .Un. rhan-B, bcdiliug am: it day's Fnpply of food, tlirco r-ounty homes tea tiers nnd a Ki-year- "I lam] cffic, nnird i Itc; ktM until K and tn V folic wine noini made: Hy J. 11. Cic'irgc Mydc, C.A., of Uy to Il Mr. I-. OpHvifi (hi tho ci! a plRL-e in tiln Mr. McLennan! Mr. .P. Slav ['onrtoc-n oilier Spokane Xew from Ha; .1. f'nlo to to iiOllfle- iu fi LIU: of liis ijonr until rlif jucnnus of 1 "j, 1 (Jfi1 i-Mirri-rf piLr-u-fi Ui file cti tilt land en ivhic-h HK-V have- variously r'nun ['our to nes-en iinrt whir li uill lie diyuv. n ic by ihc> itoTerninoiil on day. Tho" iii Line is Albeit Sohwrlijf.r: the e- ond, Anna Olson ,-pfow, iilniiK lo lr, that IIP deposit one biilint, renrest-ntinci the directors and other FiiareSioldors wlio liad sent liini their proxies. li was nil that would he un- any sharelioJder icii himself. Tho ballot was It was moved liy Mr. .1. Tl. T.ear- m 011 i a n 11 seconded by IJ r. H. D. Y rites, thai the ihanks of thio ing be prosenteil tn ilm j.vesident Direclcrs for attention tn itio interests of the bank. Mr. II. H. Angus, In rpjiiy on benulf of the ijresident ami Directors, in a fov.- u-ell-uhos-n -.vcrrlc; their apnrculntlnn ot tlio thanks HE WOULD PREVENT IT BY UaiTii -Morrirc moi M Hint GENEROUS OF THE of the meetluf? lift RLven to the tiencral Managn, (lenuval CANNON rust vear. In tionf Mr. Morric HIQ mft. IrMiliiiFss m Colonel, ol Uie tlin ,9DlU mfanlry lu rcvlv tn highest terms his npnreclatior. of Hie i Oir laughter of tt'.f of Hank he had met in liis hnrti a firr Sroin tiis uu- exiicrlcncp, covering a great jiavt of chine guns was shou'n in ti'iitiinony the conn try, and Sic hail no hcst- today bi'iot c HIP ourt mart ial lativc iinrfioEcs, and created a soine- unbealthy oxpanaion, haa met with a check. It haU mncli to do oil farming" eciiit'naes to be an urgent need of the Northwest. 1 am pleased however, lo observe a betterment En with ths outbreak of land speculation this res peel. Kroni the figures which In tie West, which, owhiff in a inep-llmvc been furnlalied there bus sure to a wise precaution ot the Bank jbeen an Increase In the past five yearn Act, was limited to individuals and has not affected the country generally in an adverse manner to any appro of li 4 In tho numb or of hon-es, !o, aheep and swine, it is a mat- ter of regret that the returns froi ciable extent. Advantage "was othei- do no exhibit tunatelj taken of the easo wllii whtc-h money could be obtained nnd of the of Canadian Hocurltles In Great Britain by certain Individuals on both aides of the Atlantic to ex- ploit Uie London market wltli securi- ties of a doubtful nature, to thglr oivn advantage, and some of these enter- prises, owing to over capltatltatlon or Incompetent management or fcolh. have met with disaster, causing sus- nlr.lon to cast on many undertak- ings of a thoroughly sound character seeking capital. TV.ere has been a of the land speculation In thr West ot which 1 have spoken. Muni- cipal to actual necessities and with due re- gard to the ability of tho to ftnd a market for its ec prevent tliis about ,'at iinj' cost- I Uo not intend to let Mr. Angus will co-cperale .wltli co-directors lor many years lo cc ptuplc laugh at Hie army ia Mr. Chapnt. in sernnrting saltl tliai.cily. !i tt coatinuc-j; 1 simll onler ilie motion pliment to XI Returning thanks, Mr, Angus said: "I ihaiik you for that of well-doserveil. rotu- the troojis lo shoot." t'utoitC'l Von Renter in court ad- mitted ill at he had machinr gnus Ijrouehl into the streets of y.i-liein fishing seacon has been a good aver- age and tlie pack Tins been sold at remunerative prices- The panic may i lie Bftid of the linltimt and herriup fishing, ami free admission of British Columbia llsh to the United ftates will bo of, advantage to '.ho Conditions in ine lumber iradn have Leen very unsatisfactory. Tiie prairio demand has been poor nnd the prices so much lower than in that It is has beeu restricted a qtiestion if many of the mills nave made money. Tiio foreign lumber I traae has fuiien off uuL'n Iii 'unties. In ami jn anil the free admission noted that of inmbfir to the United States Is not your goodwill." Mr. liraithwfiitc caid that ho ile- on behalf of the Staff, to thank the shnrcliolders for ilic vnry hind expression of appreciation of llielr services, and lie U tanked Mr. Mar rice, especially, for the very kiml ivord lie spoken. The readiness fur use against the BROWN TAEL MOTH Vigorous Fight Being Waged Against Pest in Atlantic Provinces likely to be of much benefit as lumbering aiaitis on the by purchasing, in cite ilrat ten months o( line ____ ___ of the year, n sum of less I market. Mining has probably piven of our municipal, Indus- moat results of any trial, corporation and public utility juduairy in the province the proiiuct hondE. wltliout taking into OE- Thc mines incrrasir.g in value lion an nincunt difficult r.o estimate j over the preceding year, sold through Canadian brokers. lyhe tpial mineral output was Province of Ontario. Vtcivintj Hie country by sections, In the Province nf Ontario, the year, RS a whole, may bo said to have been and copper respectively, say, 000 and Crops have been lalisfaclory, Tim j fruit Industry In the Okanngan nnd nrera8e.nn, j had a f.lF .nd u Cropa Have been n the farmers p Manufacturing tiirinstries I Province of Quebec. General conditions throughout the province Iiave. licen good. Crops have been urt to the average, llay, tho ohlof crop, turned out heifer than al first anliclpatcil, and other crops Imvo boon sattsfnclorv, Iwlh as to rnmntlly nnd price. Among mnnnfnciurJng In- (ally municipal unrtertaldnKR, am! (he probability is tiint there will be rnn- siderablo unemployment during the coining wfnfer. Mexico In general conditions eon- tinnc to bo disiurbed. anil tiio oul- como Is JrnpossiWn lf> predict. We dustries, tlie cotton tnduairy has hart; feel ihnt our iuleresl? there Are In a gocd year. Othor niftnufactiirers nnd oQpabhi hnnd havo hardly done so well. Tho year lias been a goor! ono for lumber, both as regards and price, nnd Jf anttrlpaled that iho roeont removal Words of Confidence My last words are of and confidence, Tho tlnKnr or prudence points to a policy of censorvf ol iho United States duty akrmlrt j Wliilo tho nnaiicial sky renin1ns ciontl- inr.renfio i-lio nrofitii of ilio over In F-'uropp, sliaH do woll nesa. It is thoiight not unlikely that ono result of Uio removal of the duty to hasten slowly. It la not a tlmo to attempt enterprises or n speculative will te to Rlvn n furihcr impetus to nature, nor to undertake new corn mil- the- proportion of lumber r menu prior lo the financing thereof anrt nn of Btcpk by chants Jiwnwfnetiirers n.- far as popRtblc be The cetlonl harvoEt. par titular lv in 1 Northwest Kljciihl do raitcli rtebiK nnd aiuellovating tJie to tlie United States Instead nf Orcat Britain and Puljt- wood nnrt paper slilpnirMUn Iiave been largo hoth from Canada and Nnw- With regard lo (his indus- try, It wr.uld he well i in ortJor pro IIOL exceed iho tlematul. IK> ex- but it probable of UK- Dank must alVays he to a larye I Ottiwa. Jan. T.-TliD Department o[ Ipgrce mmn tiie outaide' Agriculture Is co-operating this win- managers and the rank anil file offi-' tnr 'ivitli tJie provinces of urutia- cers of tne "I cnn H-ick N'ovn Scotia in carrying1 on yoii." li" added, "of my own know- I lt vigorous war on the brown .edge of thp absolute loyalty and de- vnllon of the staff to the interests you. anrt Jismire you that you Have stafi" second to none." Election of Officers The result of the haHot for t ecllcn of Directors was declared the Chairman follows: tif Cannon from the eastern states. fnr (he nests tlie moth on thp of orchards and eisevhcre and the neals are rfefitroyed. MilHoHR of dollars havo been speni in fighting tlin pest in the New Ens- Innil st.iles, but It is boppd to pre- D. Angus. D. Forbes, Angus. A. Hnuin- ivent- it eetiing a strong foothold Hur.tlv H. Urummond, C. H. -this country. H. B. Clreenshlelns, C. R. i------------------------------------------------ Hoamcr, Sir William C. Mncitonald i llnu. Robert Mack ay, MPPBFP. Wm. Macmnster. H. V. .Meredith. D. Mor- j rfce, Sir ThomaB SJiangiinegpy. K.C. i Iliglit Hon. t-oril Stralhccua anil Mount Royal I Tlio raoetlnp: ihen terminated. At a meeting of the I'i- J fuIlowinR ofiiccrs v.-ero electrd. Hnn. I'rcatdent, Lord Strath- njia anil Mount Uoyal; Mr. Tl. V. Meredith. KILLED BY POKER Enfline Fireman's Strange fi at Mooie Jaw quest Death In- Mooso Jaw, Jan. thai In foniF1 myatrtrlous way had jumped from one engine lo another aa they passed, was the canpc of the death of Fireman John A. "McDonald, who was k'd nt Itnfus siding on December Tim jury heard (lio Inst j yestenlftv, niirl relurncd n vordict to w'foot. Tt is (fie- poker Hart teen projecting from Iho fllite of (ho approaching engine and wns struck (he oim oii'iviilc-h was causing H (o wring to- wards iltceased with terrific tnn-e. Sage Tea Darkens Hair to Any Shade Don't stay gray! Here's a sim- ple recipe that anybody can apply with a hair brush A rrport 1 -mt the It. would ask j: tho Dominion jtovernnient for Ofifi.fiCu ihn cominK acssion I wcs will Lo compelled to pause aivhllu in I arrival at treated in :i rather non-com mlttnl' I mnnnrr Sir Mackenzie en Iiia Tiife uso of Sago and Sulphur for restoring faded, gray hair to its natural color dates back to grandmother's time. She used ii io keep her hair hriantlfnlly clarh, glossy and abundant. Whenever her hair fell out or took on that dull, faded or streaked appearance, this sim- ple mixture was applied wonderful effect. But brewing at homo is nuissy and out-ot-ilate. Nowadays, by asking at any drug sterc lor n BO cent bottle of "Wyeth's Sago nuri Sulphur Hair Hmiimly." you will got, this famous old recipe whlrh ha dopended upon to restore natural color and hoanty to i lie hair and is splendid for dandruff, dry, feverish, itchy scalp and falling hair. A well known downtown tlrug- glst says H darkens the hair RO naturally and evenly that no- Iiorly can toll H has been ap- plied. You simply dampen s sjiongo or soft brush with it and dr.iiv this through yonr hair, taking one strand at .1 time. morning Imfr dls- pears, and r.I'.uj anotlicr apnli- cation or two. It becomes beau- tlftiUy dark, glossy, entt abundant. J. U. Illgiubotbam i'o., Mrf.. driigRlstfl, ;