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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - January 20, 1921, Lethbridge, Alberta THURSDAY, JANUARY 20. 1931 THE LETHTmiDGd DAILY HERALD PAf.K Trade Expansion Reviewed at Royal Bank Annual Meeting Edson L. Pease, Vice-President Managing Director, Points Out That Business is Being Brought Down to a New and Sounder Branches Import- ant Factor in Building Up Foreign Trade of the Do- minion. C. E. Neill, General Manager, Reviews Most Successful Year in History of the Assets Now Stand at an increase for the Year of The fifty-second annual meeting of the Bunk of Canada marked the rjose of tho most successful year in the history of the bank, and was also featured by a number ot interesting announcements by Sir Herbert Holt, the president, and fidaon L. Pease. Tine-president and managing director. Tho past yeeu" has been one of un- usual developments throughout tho world, and many problems have na- turally developed Eor the larger banks. Sir Herbert Holt inada a particular reference to the situation in Canada at the present time, and touched on What the bauk considered to be the outlook. In discussing this subject, Sir Herbert said: "The position of Canada la funda- mentally sound. Considering tho culties ot one Cuban bank which sus- pended operations in October last, were caueed only partly by losses in sugar. The main reason WHS prob- ably over-extension of its business. On its suspension the Cuban Govern- ment declared a moratorium. Thanks to the precautions taken by _._....___ our management in early warning our Since then the percentage" ha Sir Herbert Holt, President, Stated That Considering the j nmition are sound, granted that Times, Canadians Are a Fortunate ment Ownership of Railways and Fleet More Expens- ive Than Pension Charges and Other Legacies of War. In the period wo am thus looking forward to, 1 feel confident that this bank will play no small part. Development of Foreign Trade Mr. Pease also touched upon tho commercial relations between Canada and the United Utates. Dealing with this subject and the manner in which our exchange had been affected, he said: "The character of our foreign trade has also changed sharply. The year ending November 30, 1920, shows an adverse balance of as com- pared with a favorable balance for tho year ending November KO, of Exports during the past year were -well maintained at slightly above the lever of the prev- ious year, but imports showed an in- crease of Our imports from the United States nmonntncl lo J925.000.000, an increase 000 over the previous yi on our capital, or 11.01% on our com- bined capital and rvxrvo. The usual dlildeoda and an addi- tional bvnnt of J% have benn paid to I shareholder, and a balance of M8.M U carried forward In ProBt and Lou Account. I dwlre to draw particular attention to the fact that In addition to writing Off all bad the fulleat provis- ion has been made for any loans ot a doubtful Character. In view of existing conditions, a particularly careful revaluation of the assets ot tho bank has been made, and it Is gratifying to know that our posi- tion Is a very satisfactory one. In this connection 1 wish to draw attention to the fact that tho loans of tho bank arc very widely dbtrllmt- ed and that wo have no unusually largo individual advances of any kind on our books. ALBERTA WOMEN AND ALBERTA LAWS (BY LILLIE YOUNG McKINNEY) MRS. McKINNEY WILL WELCOME ANY. QUESTIONS OR DIS. CU3SION ALONG THESE LINES. ADDRESS HER IN CARE OF THE HERALD. WINNIFRED LADIES' AID PROPOSES TO HU1LD WOMEN'S ORGANIZATIONS ing gowns for lior doll which might I shall give this to yon almost entire develop into a real art. us It was sent to me. I am sure many So much for the dolls. Vill women un organization will recognize Its never realize that we are living in vicissitudes in this description. It may strenuous timos? That we will all have not have been "dolls" in every to put our best efforts rorward to ization, but some anti-climax at the world a lift. That thousands upon I Lite Held of greatest uaefulMM. 1 therefore Invite your views. Question Box Mrs. urc Just iuch a an.tho Mothers' Allowance Act Intended to hull'. Left pennlieBi with two small children, no (Km plct the pathos of thu struggle. Writu to tlio Department of Dependent and Delinquent Clilldron. It you arc north of Hud Door wrlto to Edmonton, If south to Calsary. Thero It) u branch of the derailment in each city. TWO FRENCH SOCIALISTS KILLED WHILE ON WAY HOME FROM RUSSIA some time or other, been the lot of al- most every human undertaking. I am I recognize your pet organization there, Alw, perhaps PARIS, Jan. Socialists who Murmansk and French disappeared between Vardoe, Norway, A NEW CHUKCHi'' wi" bo it-will encourage you to kni 'others too have their UPS and downs, (from Our Own Correspondent) Bllt between tho lines, you must W1NNIFRED, Jan. Ladies' read tlle di86atitfaction with present Aid election of officers has been post-, accomplishment which is the promise poned from January 13th, until Thurs- of future achievement. Happy tin- day, January 27th. Members please ,Mrscm or tho organization that does thousands of live babies are ill clau and ill fed, and in shirking our re- cently while returning from Russia passing this on to you both as n con- fponsibility by saying it is men's bus- ;wero killed, it is stated by the foreign Cession and an encouragement. If you iness to run tho world we are just i relations bureau of the Moscow proving our inferiority to men. I nutionale, says a dispatch from Hel- Women bate entered industry, bus- i singfors. The bureau however, throws iness. and the professions with sue-' responsibility for their deaths on cess. Why should thev not become, "agents of thu entente" who arc de- uote ar.d attend this meeting. true citizens with the sanio success, and use their influence to ameliorate the condition of the down trodden. Why should wo still choose to be sheltered women, economically depen- elarod to ho "systematically opposing the landing at Vardoe of foreign com- munists returning homa from Mos- cow." ot S'OoiJOo" !ot N- p- was a decided BUC- wv .ear, "due I and every one enjoyed the even- large part to increased prices ot First honors were _. _ Tt-nii Ki- Mi-u UnrVAV riUTftn -inr) Ui-ai Drive held at tho home rospect. that leaves nu self pity' un- scsss modiUes. During the five yenrs, 19U'v 1914. the percentage of exports to the j United States to imports from the United States averaged 40 per cent.! won Mrs- and Mrs.' Campbell, second. Gentlemen, Jas- Craig. the drive the company sat conscientiously tako an dent on our men folks, when the way i NEWSPAPERS WANT ar'to that open road! GREEKS OUT OF TURKEY covered, no pet foible unowned. (where men and women will travel to-' CONSTANTINOPLE, Jan. As to this special organization re- gather as true comrades with the same lapha Kemal Pasha, leader of tho ferred to, it has been your scribes aim and purpose in being Turkish Nationalists, has left Angora privilege to visit it. and I do assure to bring "the greatest amount of for Ushak, for tho purpose of you that these .women are the peers health and happiness to tlio greatest ing operations against Greek forces of any in our province. Tlu-y did not amount of people." in that vicinity. Anatolian newspapers) ,_. all seem to this "strangar from i with this vision for the future the i are calling upon the Nationalists to ....._. ,_................ ___ presided I Ule city" cliquey, and narrow, for writer concludes. Now the activities j take flrusa, about 55 miles southeast officers In Cuba of the Inevitable re-1 proved, and-will probably be 58 per y ,' country women to me have a breadth of women are vital factors of our na-! of Constantinople and drive action that would follow the exces- cent, this fiscal year. Our exports j M- J' Colllns. a11 expressed great[ slvaly high prices, and instructing them to adhere to our policy of' mak- ye hist year were notably supported sales of lumber, pulp and paper. times, wo are a fortunate people. No We are conducting business an usual, nation has escaped the aftermath of not taking advantage of the morator- the war, and throughout the world ium. being satisfied, after an exper- unrest. In i ience of over twenty years, that there is no safer banking field Uian Cuba. While I see no need for pessimism at this time, should look the situa- tion in the face. The present reac- tion is a temporary set-back only, but before normal business activity is re- stored, further liquidation Is inevit- able. In the United States this liqut- thero Is disturbance China, famine spreads desolation, confusion and terror reign in Russia, while Europe is grappling with com- plex problems. Even in progressive Japan, industry is paralyzed. Con- trast this with our condition. Car crops are the most valuable in our history, even at the reduced prices obtainable; bauk deposits have dou-i dation has proceeded far more rapidly bled since 1913; most merchants have, than here, and tho fall in prices has the same value as those for the entire'flscal yei.r 1U13, viz: 000. The year's purchases of cotton and its products In the United States were compared with automobiles, as against worth of automobile parts as compared with leys than a million dollars. We consumed 000.000 gallons of United States pe- troleum, gasoline and lubricating oils, as against in 1913." Necessity of Increased Exports ly it any wonder we are suffering ing no advances for speculative pur-! the other hand, the consumption ot th" ot poses, I am pleased to tell you that, those articles for the supply of which we have made no loss, and do not] we are largely dependent upon the anticipate making any loss as a result United States, Is increasing with the of the present financial disturbances; i growth of tho country. Iron and steel in any case full provision has been products imported during tile six made for unforeseen contingencies, i months ending. September were of set aside reserves in the years of, been much greater than with us. J! from adverse exchange rates? The plenty to tide them over a lean per- i see no escape from the common level, j only correctives are, we repeat, the lod. and a great part of the bonded, This further fall will involve business curtailment of imports of non-essen- oar neighbor render unnecessary the er and surer basts. There Is comfort; is increased, and wide fluctuations expenditure for armaments which is! in the thought that a return to nor-; tend to change legitimate business strangling Europe. Unemployment ia i mal prices will bring relief from the into speculation. We In Canada have less, and business failures are fewer, comparatively, than in the United States, and when our war liquidation fa over, we should be among the first to enter upon a new era of stable prosperity." High Cost of Government Operation high cost of living which has become i beeu fortunate In that our exchange so intolerable. Remarks Edson L. Pease-, the vice-president those ot other and managing director, dwelt more United States. relations with the United States have been fairly stable compared with i at being present. A most enjoyable evening was spent hm-aday at the home of Airs. Jas. Larson when she entertained tho fol- lowing guesta: Mr. and Mrs. J. W. Denison, Mr. and Mrs. Ernest Denl- sou, Misa Dorothy "Denison, Winifred Denison, O. Mitchell, Mr. Taylor, P. Hillls, J. A. Turner, Mr. and Mrs. T. C. Godfrey and Miss E. Dowler. Games were enjoyed and an exquisite lunch served. Mr. and Mrs. Wllber Hanegan eutor- tained very delightfully last Friday at a dancing party. Every one report- ed the party a perfect success. Invitations are out for a V.rhist Drive to be given Satin-day, January 22nd. Winnifred's very best whist players will take part. Mrs. H. Bowerman, Mrs. H. Sherer, Mrs. Roy Huff and Mrs. Glynn Phil- lips entertained last Wednesday at a dancing party. After the dancing of vision which is the result of their tional life. All are groping toward the Greeks from Turkish soil. tho close contact with the great out of j door: light. It is most important that all such organizations and that through find this themselves, seeking we Adherents of Mustapha Kemal .de- clare the region between Panderma and Balikessir is in revolt against the since I come together with a common Greeks. A number of Greek villages A Retrospect and .An Anti-Climax "How long ago it seems since i p-urpoae individually expressed. It will i Minor are reported to have was approached to join tho Woman s nW.llm tn 11BB by the nationalists dur- ing the celebration following the vic- tory they won over the Greeks rocent- can remember the president trying to keep us together and interest us in maybe how aomo of the women titter- ed and giggled, and the president was. large enough to overlook it. We sat and looked each other over, and drank a cup of tea, and hied home, ami were more or less pleased with our- selves. To a stranger from the city these women seemed countrified, cli- quey, and narrow, but here we were with high aims and high ideals. "As time' went on there wag war work to do, and one had to acknow- 1 the views of others who, like this eai est 'endeavorer, are seeking to find every one sat down to a most delicious 1 ledge that. those could sew. repast. The tables being prettily ar- Bundle after bundle of Red Cross sew- ing was done up and exchanged for cut out garments again. Every meet- ing women who had lots of other ranged and heartily enjoyed by every- one. The Norwegian Ladies' Aid will meet at. the home of Mrs. O. Noss work to do took home their bundle of Thursday, January 27th. Everybody sewing and delivered it finished next cordially invited. meeting. M. H. Smith made a business trip j "A new feature was started when countries with The premium to Medicine Hat Thursday, jiath. Mr. Teddy Winchcomhe from Vauxhall this week. January j members were invited to bring inter- esting newspaper cuttings and read particularly with the affairs of the: American funds ranged from eight to returned them. Many and varied were the sub- of these cuttings but interest Mr. W. H. Scott, president of the gradually developed in Social Service U. F. A., and K. K. Bergan, were ap- 'work; venereal disease, its cause ai bank and tke endeavors that were, nffieteen per cent, during the Minted I effort- Sir Herbert also dealt with the Gov-1 being made all the time to increase year and is now Contrast this I Wlnnlfrfed Edmonton to effect, control and pointed ovt the'the eiport and Import trade of the I with the discount on other currencies' tremendous load that is now being country. Dealing with this form of I In New York- on December 31st; iiul child welfare; also woman? Inflicted upon the country through Government ownership of railways. Discussing the question of Govern- ment control, Sir Herbert said: "Government control has practical- depreciation in exchanges, we business, Mr. Pease said: "Despite the generally unaatisfac. tory condition of, trade, due to impaired buying power and _ have ly disappeared during the year just every reason to be thankful for the paper and sugar being the commodities to be freed from re- results and the quality of the bust Sterling Trench exchange and Italian exchange Difficulties Incident to a period of falling prices in Canada and abroad have been lessened by the fact that this year's Held crops in the Domin- ion have been abundant, and are esti- ness we have built up in the coun- mated to represent in value an in- v----, dim nn 0. ,3tl ,v iniiiuiB many It price for wheat Isjow compared with friends were glad to their oldest the price paid, by the Government last! daughter was slowly recovering her ire year for the entlro crop, viz.: j health. gulatlon. Government ownership of I tries where we are represented. Our crease of over the pra- transportatlon systems haa developed. branches In South America are rnak- i vious year, this despite the fact that Without any advantage to the public Ing steady progress, and we are Wei; the acreage sown to wheat in 1920 In efficiency or rates, the operation of j pleased with the outcome of our first was about a million acres less than our national railways during the i year's operations there. We are mov- the previous year and the average fast twelve months has resulted in a Ing slowly, taking no undue risks. It loss which will probably more than must not be supposed that a bank's absorb the amounts collected on ex- cess profits and Income taxes for the year 1919. Unless Government meth- ods of operation are more efficient in this country than they have been in others, tax payers in Canada may find the maintenance of their railroads and fleet more expensive than pension charges and other legacies of the war combined. Of a. total of gpent by the United States durlng-the last year, went to pay Irs V M Brvan at