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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - September 9, 1912, Lethbridge, Alberta Monday, September lfl.12. THE LETItBRTDGE DAILY HERAU) Page On Vancouver Island All Roads Now Lead to Courtenay The Fastest Growing Town in the Dominion Today WHY? Because reaJizing the immense impetus will receive from the openins of The Panama Camil ami ihe .Bridging ol the Seymour Narrows, in the near future, the biggest tinaucial inter- esteinOamida. vheC. theC. 2f. R.. the (I. T. the Canadian Collieries (Duiismuir's, Ltd.) and the Canadian Western Lumber Co., have all within the past twelve months bought out or absorbed the'immense natural resources in the district around Courtenay, known to he the richest on the island. .Millions of dollars are act- uallv leino- spent right now by the above' companies in development work witlfthe natural result that Courtenay is growing like a mush- room, .'and in the opinion of people at the coast Courtenay will m live years' he a' city of people. HUNDREDS OP THOUSANDS OP DOLLARS will be made in Coiirteuay real estate in the next 18 months. Even now. although but a country village one year ago, the growth of Courtenay has been so rapid the past year that values have increased 900 per cent. In TieVof the permanent nature of the industries being established, arid the financial standing of the companies interested., (those who invest now in Courtenay Real Estate before values become inflated, are positively certain of large profits. We have been secnrins agency for a few close in business lots in "The Riverside Addition7' Courtenay, owned by "British Columbia In- vestments Ltd.." and to prove they are good, we can show you a list of prominent, business men at the coast who have bought lots along- side the ones we can offer yon. to terms 1-4 cash, balance 6, 12 and 18 months Or 10 per cent of purchase price per month. No interest. Free Booklet on Courtenay Mailed on Bequest. Sole Agents for McCorvie Realty Co. PHONE 1391 St. Soutli PHONE WEIRD STORY OF A MODERN BLUE BEARD (Continued from front pass) PREPARING FOR THE BATTLE OF THE NORTH Ulster Orangemen Drilling to Resist Imposition of Home Rule f'r inWn, Preparing for the !jWl "Settle at the NoaV filed Sep- 28. particularly a wrioua mixture .comic ani the-wSJtaM. There )3s no doubting iUOrminiUon 2nd jkhs staosrlqr mod file ot Uhe Orjuigeroon. They have goaded into a white ot anger. JBut oonaady In Iraaliela Is belog pro- ed by tho Dukt-a and belted lEarls who teualns with "the sacred -weapons used by their at the Charter tield of liberty, the-Boyne. Numerous accounts are printed ot tho dtidperaie doings of theao obese Kentry with swords which were fash- ioned before parlla-inut hid much to Fay In tile affairs of the njUiou. One Oranse Karl Klves It out with pride that lie- iy using the sword .which 3ir IXVHliam Wallace carried to urge the Scots to victory. Another practices a which did service at tho of Tewkesburr. In 'he War of the IfoEeH. The Nattonaliits, of course, are poking all kinds of fun nt these warriors of the 20th century playing wMi the toys ot Uio middle ages. Vet, underneath the humor ia the grim reality of trouble ahead. The program for Ulster Day Is an- nounced H3 follows: A sen-ice will be held about 11 o'clock in each locality throughout (Ulster. After the services all Union- ists will proceed lo appointed places to pledge themselves to a solemn cov- -enant, tho torms of which will be ap- (proved by the council on September 123rd, and publicity proclaimed through lout Ulster the following day. Pre- irvlotis to Ulster Day, anti-Home Rule Silemonst.ra.Uous will bo held In differ- ent parts of the province' at which the following speakers will take part: The ,1'Juke of Ahorcorn, the IJuke of (Devonshire, Londonderry, Lord Salisbury, Lord .Charles Lord Hugh (Ml, Sir Kdward Cnrson, E. Smith, J. H. .M...Ciuimbpll and Ronald .McNeill, all members of par; liainent and parliament adherents of Bonar Law. Officers ot the Irish militia regi- ments have been warned not to take part in the "training" of the Unionist rrfle clubs under penalty of losing their commissions. MOTOR CAR FATALITY Qloversville. N. Y., driving a car a. east of Fonda this morning a-nd in to make a reverse curve at high speed, w. W. Gule, ot Haven Conn., was Instantly killed and his wife perhaira WILL BRING IN STRIKE BREAKERS GREAT NORTHERN ORE BREAK- ERS REFUSE 20 PER CENT INCREASE Superior, Wis., Sept- Great Northern Ore dock workers who weot on strike here Saturday depending, an increase ot 2a cents a day iu wag- es, were siill out this morning. The company notified the men they must report for work today or strike- breakers would he imported from Mil- waukee ami Minneapolis. An official of tlic company said this morning "We have agreed to an advance of ?0 cents per day for d.iy ami night shins, and if the men do not fatally injured vlien the car struck, av m ,ven BkWded'and tUrned hroiiEht in from Milwaukee Mu.ne- A DECORATED YOUNG MAN Toklo, Sept. Crown Prince Hir-j RECEIVED FRENCH WORKWOMEN ohito Wiis today received in audience by tlie Emperor, who decorated him tbe grand order of Merit and tlie Grand 'Cordon of Ibe Cbrysan'the- 1 Harmel, who fo Rome, Sept. Pops received in utidience lorfay of French workmen under the iH.irlerahip of Leo _..... years lm.i con- ducted MIR pilgrimages to Home. Threshermen! Our stock of High Grade Rubber nud Can- vas Endless Thresher Belts is most complete, also Cut Leather ami llubher Belting, Belt Lacing, Belt Cement, Bell Dressing, cl.e. Thresher Supplies of every description. Write us for Prices Orders from the Trade Especially Solicited WESTERN CANADA AGENCY Limited PHONES 712 and-1170 1216-1224 1st AVE. SOUTH (J.ETHBR1DGE, ALBERTA Seven at Least The detectives say thi'.y h.ive al- ready secured proof that at least seven wises died from the hands of this modem Hluebeanl. Two si.sLvrs j and their three children went involv- I rd in the final tragedy at Hie hand- souse anct substantial house in bourne, a popular seasKle resoi't, where "Finis" was written to a st-range career of passion and blood, j Handsome, dashing, tall, dark nd wilh eyes mid moustache resembling those oi l.ord Kitchener, tlie nmn made the acquaintance of K- I'ater, u well-to-do railway official living at Leon Solent in the beginning of li'08- lie was invited to the pretty homo, where he met the wife tho railroad man and his throe daughters, one of whom, very fortunately (or I herself, was already married. Flor- ence and Edith were the unmarked the former just 20. Kditb was j a little under IS jears. Both were 1 good looking, fascinating girls, the elder a blonde, the younger a slender brunette. The handsome captain marie himself agreeable to both at the same time. He wooed Florence, unknown to her younger sister, an.I married her secretly, according to .Scottish rite. When she was about to eive birth to her lirst child, he spirited her away to a cottage in Clapham, where the child, christened Stanley Murray, was born three years ago. Six months after the birth of this child be married Edith secretly -it a church on the far side of London from Clapham. He took a house, for j-this sister of bis other living wiff.it Fawe Park road. Putney. Three days of the week he lived with Edith and three days with Florence; on the seventh he played the bachelor. His absence from both hoirras ex- plained to each wife with the remin- der, "Bye-bye, darling. I've to show up at the barracks, you kno.w." i Edith bore him a daughter a.vear ago, after Florence had had a second I child, Vera, just IS months I Edith, about the time of her last, ct-n- linemen t, discovered her. (Florence's) ..condition, but not the real name of Florence's husband. With her rtwn hands she cut and stitched I clothes for Florence's second child by i the man who had made her his own wife. Remove Encumbrances Murray, or Maekie, then became enamored of a young the daugh- ter of a wealthy tea merchant. He made a whirlwind wooing and was on the point of marrying her when evi- dently he decided to clear the way for this new matrimonial venture by destroying both living wives and their, children. He suggested to both a month at the seaside. The two mothers and little Stanley were delighted. He took rooms for bath families at Kastbourne. He also rented a large and band- some villa in a thinly populated out- skirt of the resort. To this house he lirst brought Edith and her year old babe slaying them in a room papered and painted in blue. Leaving thi'ii bodies lying side by side on the llnor he went to the cottage where Flor- ence was .staying with her two Chil- dren. He brought them to the lonely house, set far hack in its garden, sur-. rounded by several shade trees. Flor- ence and Stanley were charmed with the howe. That was Saturday even- ing. "Mind you, don't try to uiiler tbe said Murray. All Sun- i day elder sister and her children lived in the house where Edith r.nii her babe were lying-dead. .That night; Murray slew the. two children of as they lay sleeping in t'ie nursery. Tlie mother entered the room j to find Murray holding a ping wilh blood. She. screamed tbe munltuTr turned, seized !ier by; the hair nnd stabbed her several times ir, the breast and stonrach. She! fell to the floor unconscious and j smilingly The monster stroilo to Hit- blncroom to unlock it, mean- ing to carry the other dead bodies there and got rid of all together. Florence revived, arose to her knees, crawled to a window and by a strength which seems almost incred- ible, climbed down the drain pipe ami gave the alarm. Murray seeing that she h.id nscano-fl him, bore tlie bodies of Stanley nnd little Vera into the hlucroom, scat- tered oil over the floor and furni- ture, ligbtc.l a fire and shot himself through the brain. Police and lire-men arrived at the same time. The charred bodies of tho blucbeiird and his victims were recovered after the Tire was ex- tinguished. pi'Mcutc was taken lo the hospital, where she lies dying af- ter tolling the detectives what nlie knows of her husband's strange c.ir- cci1.. SIR THOMAS SHAUGH- NESSY DEFENDS NEW STOCK ISSUE (Continued from front bk- was full of optimum regarding ihe outlook for this tall. "Kant lie said, "leurlul things were, prc-dlutod but uvoryhody came oul all right. It be just, the sumo this year. Vou' citti't keou the and it is impossiblb to discourage it.'1 The Stock Issue Diei-iissins tlio ijroposud stock is- sue of the L'Himdian Padi'iu Hallway, Sir Thomas said: "The policy ;md affairs or the Can- adian Pacific are proper subjects for discussion ;uitl c.Titidsm 'by the pub- lic and the pi-ess of Canada. The company's prosperity would naturally breed some jealousy, ami the bogey of 'melon-cutting.' as It is (sometimes termed, can be floated with a degreti of effectiveness time would not bt- possible in other (Mreumstaiu'es. No doubt yea agree with me, that people of Canada take u jusi pi'ide iu their great railway, and would not let any other country have it for the world, hud, indeed, while th-ey- give it a fiood many hard knocks ihem- selves, they would not permit any out sider to hit it. "While, I say, the af- fairs of the Canadian Pacific are pro- per subjects for discussion in Can- ada, we should start with correct premises, or our conclusions will not be fair and sound. people forget, or do not know, that the cash subsidy, large amounts received from the sales of land and the proceeds of land grant bonds, all of which were applied to the construction and equipment of the railway, play no part whatever in the accounts of the company, the cost of the property having been reduced these amounts years ago. History of Land Grants "The land grant has proved to be a most valuable asset, but if we set back to 1SS3, we find that of land grant bonds secured by the entire land grant of the company, and fortified by a Dominion government guarantee of Interest, only realized about 90 in the markets. This would represent an average price of about SO cents an acre, so that twenty-four years ago this was the valuation put upon the lands by the investing pub- lic. In 3901, ths average selling price of the lands was a shade over an acre. In 1902 the first real activity in land sales commenced, due in con- siderable measure to large fees given to colonization agents.for sales at a. very .low figure, and in that year the average price an acre realized "was on- ly ?3.2G. Since then, the price has steadily advanced, and the railway company, the farmer ami the owner of farm land of any other description in Western Canada has reaped tbe benefit of enhanced values, So that, for seventeen years after the comple- tion of the railway, the land grant in that vast wilderness was not, covered by anybody, and. it was only after 1902 that stupendous efforts and vast expenditures of the' company to at- tract attention and bring people to the country commenced to bear fruit, and the land grant became an im- portant feature in the company's fi- nancial affairs.." Sir T-homas passed on to a consid- eration of the proposed control of rates -by parliament after the com- pany pays ten per cent, dividends. "I notice." he said, "that frequent reference is made to what Is known ag the 'ten per cent.' clause in the company's contract frith the Dominion government. Briefly stared, the con- tract provided that, the company's rates for the carriage traffic should not be subjected to parliamentary su- pervision until such a time as the company wns earning ten per cent, per annum on the capital actually in- vested in the work. Dividends played no part, you will observe. It made no difference whether the (Um.uany was paying I'D per cent., 30. 50 per cent., or any dividends at all. The determin- ing factor was the earnings resulting from tlie operation of thn railway. For a long time we have not pleaded tliat we were not earning ten per cent. OUT rates and tolls have been submitted to the Railway Commis- sion, find are dealt with in exactly th-3 same way as those of any other railway company in the country, ex- cepting Urn Intercolonial, which does not come under the jurisdiction of the Commission. So thai, the 'ten per cent.' clause, as ir. IB called, has 'been a dead issue for a considerable time. Our rates are the lowest on the con- tinent, but the subject of ratss is now before the Commission for considera- tion, and, therefore, I do nor. think it proper to enlarge upon tho subject. Ft may be taken for granted tliat, 'whatever the decision of the Commis- sion may be, the 'ten per cent.' clause will not be a factor, directly or indi- rectly. As I Raid before, it was a con- dition .of the original contract that was .swamped and burled by the growth of the company's earnings, and If. could not be pleaded now, even If tho company desired In do so.1' Speaking of the issue of stock at a f.-rice 'below the market, quotation, Sir Thomas proceeded; "The directors of the company are the only who liavo the inti- mate knowledge to deter- MADE FROM ELLISON'S "OUR BEST" FLOUR molts awiiy -deliciously in tho mouth when rou oat it. Made from this flour, pie-crust is a, 'triumph--tha m-oud housewife's joy, I'or it makes her baking really worth wuilt. Get a sack today and stop worrying Ellison Milling and Elevator Co. MILLS AT LETHBRIDGE, RAYMOND AND MAGRATH mine what the price should be, and this duty is assigned to them by Iheh1 fellow proprietors. Unless they ho recKieBS, or lacking in integrity, they will exercise their best judgment to tlva future welfare of the company, and if there be subsequent business' stagnation or any other causes for disappointment to the slinrni'olders, the directors will be free [rom blame. The Government's Position "If, however, the government were to assume this duty, of the directors, and were arbitrary to fix the pve- mium at 'which the shares slionlii be offered to the proprietors or the pub- lic, the position and responsibility of the government would he essen- tially different from that of the board of directors. The Order-in-Councll fixing the premium would, 1 think, bo generally accepted as an undertaking on the part of the government that the market price ot the shares would never fall below the figure named; in- deed, 1 do not see how the govern- ment could justify such action with- out coupling with it a direct under- taking to that effect. "You will see at once that our Ca- nadian government would bo in an undesirable position if an Order-in- Council to issue its shares at, say IriO, and if. in the course of time, by any combination of circumstances tint nobody could have foreseen or controlled, thu market value >of tire securities was reduced to a figure that represents a loss to the share- holders. .Manifestly, while it is pro- bably quite competent for the govern- ment to refuse point blank its appro- val of a proposed increase in u rail- way's capital stock, and thus, in all likelihood force restriction of expend- iture, with consequent public loss and convenience, there are, in my opinion, conceivable grounds upon which that same government could fix an issue price in excess of the par value of the security. "When people purchase our com- mon Block they have in mind an in- vestnrent that will give them a re- liable return In the future. The in- vestor lakes into account what the is- sua price has on the average value of his entire holding; for instance, if a shareholder has one hundred shares, of which the market price is anil he subscribes for thirty ad- ditional shares at 1.75. the average price of his entire holding is reduced to 25-1. In othor'words, if. after he gets bis new stock, the market breaks 16 points, or in tlla oilier case 22 points, tho advantage in price lias boon wip- ed out. Anil we know how frequent- ly a financial disturbance in Kurope or elsewhere, that has not the most remold connection with Canada or Canadian alfairs, will cause a break of or even 22, points, in a high- priced security like Canadian Pacific. "These are the considerations that given with tho people for our vast money requirements, and any company of tho magnitude of Ihe Ca- nadian Pacific must, if it is to ex- pand and progress, have an army (if those who are prepared to follow ils fortunes, anil invest in its securities, if we were to approach them with the financial proposition outlined by our good friends, who mean well, but do not know, they would button up their pockets, and tell us to go hang for, our money. Why It ia Necessary "Now any person who knows the expenditures that are forced upon us year year, to provide addition- al facilities, apart, from the new rate mileage, can nndfirstaml the neces- sity for increase in capital account. In the ten years, ending with June 191.2, tho company expeudril in Western Canada for increased ter- minals, yard, siding track and oilier facililies. and In Eastern Canada nearly and addi- tional cars and locomotives costA in that same nr.vlod over so Ihnt wo have here an expenditure of that hud to come from the proceeds of sales of Common and pre- ference slock, and from surplus earn- ITJS. 1 Ihlnlt that every financial man Jf.1a has given the suhjcnt thought, HOLBRQQKS WORCESTERSHIRE SAUCE trill-testify that the company's finan- cial policy lias been wlw and pru- dent, and .that its present strong posi- tion Is duo to almost -uniyarsal faith. in the correctness ot its methods. "But, some ono says, 1C the shares arc-selling in the market at 270, why let the shareholders have the stack on any lower fcssis? The man who aikB thiit Question, moans well, no doubt, but overlooks the fact that' share- holders are the proprietors of tho company, who have no guarantee ot future dividends, who in- vest tli-eir money because they have faith in the future of the company, and tako chances on a series of had crops, or war, or pestilence, or any- thing else that may at some time or other in the future have a serious in- fluence on the company's revenue. The bond or debenture holder has se- curity for. his fixed return, but the holder of Common stock is not ia that position. The -board of directors of the company, in .determining the is- sue price of the etock, must'take into account many things that do not oc- cur to those who lack intimacy with -the company's affairs, or. indeed, with financial affairs generally. "The credit of a government, or a municipality, or a railroad company is a tender plant that must be handled with the greatest possible care, if money required from time to tirni Is not promptly obtained." The 'Freight Rates With regard to the suggestion cenUy made, tliat a reduction in freight rates might be made a con- dition of the government's approval, Sir Thomas said: "The subject of rates is one Uint. must be considered by itself, and in Canada we have a capable Commission, clothed with plenary powers, who are now conduct- ing a comprehensive enquiry." _ Table Board All home cooking. Ladles Gentlemen 120S Third (Redpath) PHONE 1150 THE Queen's Hotel ROYAL VIEW 5 miles north of LcthbriilKO All modern conveniences Private dining rooms Meals a la Carte Arrangements can he maiio for private iluucos Everything First Class Special Sunday Diniicr from 5.80 to 7.30 p.m. R. C. FITZS1MMONS, PROP. PHONE 1624 ;