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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - January 28, 1913, Lethbridge, Alberta Tuesday, January 28, 1013. THE LETHBK1DGE, DAILY HERALD Page ."v 1 I pa If EXCURSION FARES -TO- Pacific Coast Points SINGLE FARE plus .152 Eor the Round Trip to VaiKnoiiver, Victoria, and New .Westminster w m W I II lit SPECIAL LOW ROUND TRIP FARES -TO- LOS ANGELESY SAN DEIGO SANTA BARBARA AND SAN FRANCISCO, CALIFORNIA --VIA- Vancouver, Seattle and Pacific Coast Steamship Line DATES OF SALE January 17, 13, 19, 20; and February 11,12,13,1913. RETURN LIMIT APRIL 30th, 1913. Liberal Stop-overs For full particulars, apply to Local Ticket Agent," of write to- R. G. McNEILLIE, . District .Passenger Agent, Calgary, Alta. Ocean Steamship Ticket Agency LETHBRIDGE, ALTA. Representing Can. Pac. Railway Royal Mali Steamers. Canadian Northern Railway Royal Mall Steamers. Allan Line Royal Mall Steamers. White Star, Montreal, Quebec Boston, and New York Service. Cunard Line, New York, and Canadian Service.  Donaldson Line,, to and from Glasgow. . Red Star, American line. French Line. Anchor Line. Hamburg* Americe, Holland' American. ...... Russian American Scandinavian American And all other trans-Atlantlo Steamship .lines. Reduced rail fares in connection Information as to arrival and departures of boats of the various, lines cheerfully given. Call or write. S. B. MITCHELL, Ticket Agent, C.P.R. Lethbridge SALES MANAGER WANTED ,. A man of ability,, capable of organizing and handling an efficient sales force for a' factory-branch to be opened in Lethbridge. The right man caii � make a connection now arid that will mean a permanent business establishment. Liberal compensation to the man who can get results. Our line is new, without competition and American fact"-? :."'>.' ply demand. � Duties to commence July 1st or as soon earlier as Canadian Factory, now building, is ready. Applicants -yH-Vavfv to interest themselves in the company to the extent of about $2500.-.This is one of the opportunities'that-occur but. pp.1-dom in a lifetime. Don't ans-(.wer this advertisement unless  you' are temperate, have' a clean record .and can deliver the goods. Correspondence strictly confidential. Give full -particulars" as to qualifications and references in first fetter. CANADIAN GAS GENERATOR �An.:.,-, COMPANY *"' 506 McGreevy Building, Winnipeg,. Manitoba The Senate committee has granted a divorce to Mrs. Rul)y Foy of Toronto. '; �� ' ' ' ' " QUEBEC MERGERS FRENZIEI Some Manipulations . Exposed by Which French Investors Were Badly Bled (W. A. P. REPORT). Ottawa, Jan. 27.-Practically all the time of the house subsequent to the asking of questions today was taken up with a series oE motions tor papers by Hon. Rodolphe Lemieux. At times the discussion reached the point which might accurately de described as acrimonious. The debates involved the incorporation and conduct of the Quebec Light and Power company, the Quebec and Sagiienay Railway and La Banque Internationale Du Canada, and were of some general interest-,- perhaps, because they involved the charge that the name of Canada is being besmirched by dishonest flotation abroad, more particularly in France. Mr. Lemieux said that he introduced the Quebec and Saguenay railway matter because the company was asking the government to guarantee its bonds, and he desired to warn the minister of railways that this,, should not be done. Hon. Frank Cochrane declared in reply that no application was before the., government, tor a guarantee of bonds. and Premier ..BoLJen supplemented this information with the statement that when Mr. Lemieux described the pressure which was being brought to bear on the government lie was drawing largely upon his invagination. The debate relating to the granting of a certificate to La Banque Internationale Du Canada involved the charge by the opposition that the minister of finance had not exercised proper care. Mr. Lemieux, stated that the certificate had been refused by. Mr. Fielding. Mr. White, in reply, said that Mr. Fielding had not refused to issue the charter to the bank. All he had done was to hold it oyer for tho consideration o,� the incyn*-ing government. . Sir Wilfrid. Lailrier. 'insisted that the certificate Tiad "been refused. He did not impugn the good faith of the present minister of finance, but thought he had not taken all the necessary precautions. Premier Borden warmly defended his finance minister. He agreed with him that all the conditions of the Bank Act had been fully complied with and that the'minister and the treasury board cbuTff not' have refused to issue the certificate. Mr. Borden said that Mr. Lemieux had tried to iwislead the house in regard to the action of the late government which had not declined to issue the certificate, but had .simply laid it over. Sir Wilfrid Speaks Sir Wilfrid Laurier read extensively from the evidence which "wks "submitted at the suit started by the Frencli shareholders against the bank management. He thought that the $500,000 loan to Mr. Daou'st,' of which the directors knew nothing, was contrary to the provisions of the Bank Act. The new Bank Act' at least should contain provisions to prevent the repetition of such 'transactions. He insisted that there should be an investigation. The matter cannot rest where it does'now,. Not only should the papers be brought down hut there should be a further inquiry. Premier Borden in reply said that there seemed to be a failure to recognize that the bank was a going concern. The bank had the courts to aippeal to if it believed that it had been defrauded of $200,000 or any amount. The circumstances were altogether different from the Farmers Bank failure. Frenzied Finance Hon. Lemieux moved for a copy of all -correspondence in connection with the issuing of letters patent to .-.the Quebec Railway, Light, Heat and THE CANADIAN BANK ; b: (W -.COMMERCE;- > SIR EDMUND WALKER, C.V.6., LLD., D.C.I~, President AIJSXANDER LAIRD . JOHN AIRD . General Manager Assistant General Manager . CAPITAL, $15,000,000 REST, $12,500,000 TRAVELLERS' CHEQUES Issued by The Canadian Bank of; Commerce enable the traveller to provide himself with funds without delay at each point.of his journey, in it convenient yet'lneypcnsive manner. They are issued payable in ey^ry. so tintry in the world'in denominations of $10, $20, $50, $100, $200 with tho exacr equivalent in the moneys of the principal coantries stated, on .'the face of each cheque." " They are economical, absolutely safe sell-Identifying1 and-easily negotiated.' a? Lethbridge Branch - - C G. K. Hoarse. Mgr. -PONY EXPRESS; AND TRANSFEBf DOUBLE AND SINGLE DRAYS Office 408 Round St., - J. FIGGINS, Prop., Phone 632 When Uneedus Ring Up 632 !.�,'� '�..' TRUNKS DELIVERED to any part cf the City. 'FURNITURE" REMOVED'' ' ' COAL C'.O.D. ' I Power Company, Limited. He called j attention to what had happened in j France lately. The financial papers i oi Paris were stating that seventeen million, six hundred and eighty thousand francs had been lost in this unfortunate undertaking. He was not undertaking the responsibility for this statement himself. This company, known better as the Quebec nwrger, was organized in 19(H) with the object of absorbing several companies with a view of exploiting; the various utilities in Quebec City. The five merged companies were bonded for $3,959,000 with common stock of $4,612,500. The total was $8,571,500. The Quebec merger, which was the holding company, was capitalized at $10,-879,100. Thorn was thus an inflation of $2,000,000. This issue was launched oh the French market. He said that Canada's good name had been besmirched in France. It would take years and years for Canada to regain its good name. The French government had ordered an investigation and the French bondholders had formed a vigilance committee. An engineer had been sent to Canada who had made a lengthy report to the bondholders. Mr. Lemieux thought that a special committee of the house should also inquire into the question. He referred to the tast that the national association of French investors in foreign security had received a; report on this railway which, he declared, "constituted one of the dark chapters in frenzied finance in Canada." The national association had declared its intention of bringing the matter to the attention of the Canadian government and the Frencli government had appointed two judges to investigate the various undertakings which were launched on the French market under the auspices of the Quebec merger. Premier Borden said that he saw-no reason why the documents asked for could not be brought down. He did not see that they would throw much light on the matter with which the member for Rouville had concerned himself. He had not seen the reports referred to and knew nothing of the transaction. However, if representations were made to the Canadian government by those interested investors, or by the French government, they would receive the courteous treatment that would be due them. Mr. Lemieux then moved for a copy of all correspondence and other papers in connection with the proposed guarantee of bonds to the Quebec and Saguenay Railway. The.promoters of this railway,.he. said, were besieging the minister/Tot railways night and day asking for a guarantee of their bonds and he hoped that the minister would have strength to resist those who arc thus trying, to lead him into temptation. The Quebec Saguenay railroad, said Mr. Lemieux, was an offshoot of the Quebec merger. Its bonds were issued in France and for a time became quite important on the French market. It was chartered to build from St. Joachim to Murray Bay, a distance of fifty-six and a half miles. The prospectus which was issued in France, estimated the cost of construction at $32,197 per mile, but as a matter of fact, that which was built, cost $52,000 per mile, and, according to a very eminent engineer sent from France by the French investors last summer; the cost would be nearer, $62,000 per mile. There were, other inaccuracies in the prospectus, said Mr. Lemieux. It was stated that both President Taft and ex-President Roosevelt were summer visitors 'at Murray Bay each year. President Taft had not been there since he ( was' elected president, and-Col. Roosevelt had never been there. It was estimated that the revenue would amount to $482,350, yut every' one knew that only summer'traffic | could be depended upon and that would go merely by water, while as for Charlevoix county itsalf, i\s coast was utterly barren. The ,:ailw ly had paid dividends, but they were not justified and were paid only to keep up stocks and bonds on the linancial market. Two and a half .million' dollars secured from the French people had been spent, but the rails were not there and only part of the grading was done. Proceeding, Mr. . Lemieux said that there was a claim of $800,000 against the c. mpany, and the judgment had been rendered the other day for $381,000. The company was an offshoot of the Quebec merger, the Light, Heat and Power company of that city, which does; not now pay dividends. Its ~ promoters have figured out that .if the bonds of the Quebec and Saguenay railroad were guaranteed, or. it the railway were unloaded on the government they might be able to pay interest to the bondholders. Since the session opened, a dead set had been made on the minister of > railroads and his> colleagues, and if the government accedes to the demands made, the "people will pay the liabilities of the sharks and the high priests of frenzied finance of Montreal and Quebec. Responsible European financial papers had described the operations of the compnny as- ..worse than bank looting, and he would aga'n warn tin lwn'star of railroads in regard to this matter. � OFF TO THE LEVANT Malta, .lan. . 2G.t-The battleships King Edward VII. and Zealandia sailed from here today, fpr th� Levant;: '): SB cents. ?:dt/.'W)X,.! held at Raymond, and notice of the game'given later. It was Mrs. Jensen's last request that she be buried beside her sister-in-law at the Raymond cemetery. John W. Woolf, ex-M.pjp. for Card-ston district, formerly of Cardston, but now of Metropolis, Nev., passed through Raymond on Monday-night, and shook hands with some of his. old. time friends. Johnnie wears the same old smile, which seethed to say: ''South Alberta looks goods to me." There is something about this, sunny belt that the onee-Albertan can't help but like, and no matter where he goes Alberta lives in his memory, and at the sound of that nams he doffs his hat in deference. The chinook has reached the bottom of the great snow drifts and the passers-by find themselves several feet deep in snow when they try to surmount them. All Aboard for Cardston The Raymond First Ward Mutual Improvement Dramatic Company have secured the Cardston Opera House for Thursday night, January 30, at which place, they will present the mining drama, "The Golden Giant Mine," under the direction of George Cluff, of Raymond, whose talent was proven at the production at Raymond last Saturday night. He takes with him a strong company of amateurs, v.ho did themselves proud at thei: first appearance last Saturday nisht, and it is a guarantee to the good people of Cardston that they will .receive the worth cf their money. One of the management informed the writer that the entire company will board the train at Raymond, dressed and made-up, ready to step uff la.:.Cardston, go immediately to the. stage, and within fifteen minutes of tfieiir arrival at the latter place be ready for the curtain to rise. This is a novel way for the troupe to counteract the la'te arrival of the train, and if all works, oufj.as planned, there will be *no long wait- for-the audience to. suffer. '�'� \. An advance man will be on the ground to see that all arrangements are made so as to carry out the intentions of the management. The First Ward Mutual Basketball team have arranged to meet the Ma-grath team at the latter place tonight (Tuesday). Stirling and Raymond Second Ward teams meet at Raymond tonight, and as the last game was witnessed by a �very large and enthusiastic audience, it. is safe to predict a jam. The Alta Theatre is enjoying its share of the amusement lovers' patron age, and has made a reputation for itself in the production of good, clean amusement at . reasonable . prices., which .has".been enjoyed by many Who were .not disposed, to pay former prices for anoving' pictures, Notice is; given that the Hub Co., Ltd., will i hold: their annual stockholders' meeting on February 3, at 2 p.m., and also that the Raymond Opera House.Company.;.will meet on th� Sams'day.-, at; 8 p.m.: 1 - STREAK OF STRIFE SOMETHING ABOUT PLEASURES OF AUTO DRIVING IN A MIDWINTER STORM The M-agrath Pioneer says: Hon. Duncan Marshall, minister of agriculture, and George Harcourt, deputy minister, were up against the pure unadulterated dope when when trouble is dissected and analyzed. Not one in Friday night's audience would have imagined that their serene highnesses had been snowbound three times in their automobile trip to Magrath had they not been told. But that's so, and bers, after which a delicious aupper was served, and everybody went noma feeling- happy. ' � Mrs. Roan had the misfortune to lose her cow last Wednesday. v It looks as though we are going: to have a telephone line out in this part of the country. A real good' thing-push it along. WANT AN ANNUITY FOR fvlRS. OGILVIE Ottawa, Jan. 27.-A delegation headed by Mr. Thompson, member, for the Yukon, and Hon. Frank' Oliver, member for Edmonton, waited upon � Premier Borden, this morning;-�and recommended the granting of an allowance to Mrs. Wm. Ogilvle, widow of the late ex-commissioner of the. Yukon.  � 1 Among the "members of the delega-' tion who interviewed the premier; were Sir Richard Scott, Dr. Klozt/and,. a number of Conservative and Libefal-membisrs of Parliament? A number of-these testified to the value of � thiejiser^' vice rendered by the late Mr., Ogilvle,5..; who died a' poor man, "and thiepreni'-i i,6r promised that the  recommends/-' tion would receive the careful considjw eration of the cabinet.  1 'I -02* '(?< t iwiiii " You'll""pick atwhmerV everj time you .Uj-select WHITE UORSE Whiskey. JOHN E.. TURTON; CanadJ'an^Represeilatfrclf^ 3 Front Street, EastiToronto ' <^"$-^|r*^|g 71 ;