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HomeMy WebLinkAboutThe Lucknow Sentinel, 1950-11-30, Page 5TrGI[i!M -tai >... �.. TatTR,S'.,, NOVEMBER 30th,, 1950 . BUY HURON,'VVOODLOTS• EOE,' $EFORESfATION. PURPOSES • At the concludrig ,session of Huron County Council last week; by-laws were passed confirming the p>archase 4• of th,e following t, 01, LU •a CI N,OW SEI' TINEL, LUCKNOW, 'OIVTARIO. .............. "lances for reforestation .in .the northern part of the county: 127 acres in 'CoLborne Twp. frol-n G. C. k'eaga'in, $1,000; 150 acres from Reg McGee, Colborne, $2,300; 50 acres, `N,or"tnan :O'Connor, PAGE .FIVE acxes, • Laura Stingel,.'Colborne,. $1,200; 98 acres, John E. Rodger'," East Wawanosh,' $1,500; 100 acres, James Collins, Grey Twp., 100: acres, Paul Adams, Howick, 'aced, $1,(100, 48 acres, Margaret acres, Fred Taylor,- , $1,350; 100 1VI Id C lb M g Grey, X1,506; 200 acres, .James .. , , Stephenson. .Morris'..$3,000, • rrt ' She: The than I marry must thine. in conipany, be Musical, tell. jokes, sing and dance, stay home,, drop no ashes, be no trouble, and shut up where I, want ham to. He: Lady, you don't Want'` a husband, you want a television see seY WITH 1,065voters on 'this year's voters' list, Kincardine is pre- paring . to elect a deputy reeve for the first time in ,the town's. history: • 3 •t �'••wh<G,0,0,?: rrvTp•,w�,,,.,�.•,v � rrr • i;;,,nvnw,:,:yy.•.! 'Rion �r n� mit nrr • vans zn ever This is the money that you m41,90(4990 other B of MI custoriers '.'have on" deposit at our branches across.the nation. Through this money, you 'are helping to• finance hundreds • of thou- `' • sands of Canadians •from'the fishermen of Newfoundland.to. the lumbermen; of B'.C. who are busy bui.ldtng a better future for them.``. selve's'and '.forCanada. To. private citizens .. to.: farmers with sea- , sonal incomes ..to. merchants, manufacturers; and businessmen in. every worthwhile 'line' of endeavor : ,. to municipalities, school boards arid governments . , to churches, hospitals and. fall types of public .,institutiotts ':..:hundreds.of milliops of dollars are being 1Oaned by B of M' `managers at more than 550 branches from the' Atlantic to ,the Pacific Today, more •people are saving . and more people are borrowing. money at :"MY BANK"' than ever: before: You will..find the story of 'these' .two billion busy' dollars, in the •facts and figures that follow.:. • WHAT THE B of M HAS TO.MEET�JTS OBLIGATIONS•' CASH 'The B of M has. cash in ,its iu;its and rnone on deposit with; tile Bank if. Canada..amountintto " MONEY in the 'form 'of notes of cheques on, and. '`' ' deposits With other banks 'INVESTMENTS••The I3:of M;has over.;; hilliondollars' invested in high-grade gtiv'ernnient bonds and othtr. • public securities, which have. a. ready mrrket':.1asted on the $.ink's books at •a figure hot great:: •than their market ,valise, the, amount to • The B`of M . has. other investments 'representinc 'mainly short-ter•credits to industry 'These invest?' rents are carried at .. CAi.L LOANS: The. 13 if M, has .c1a.1l, loans which' are fully proetted'by quickly saleable ecurrtre4.'Thcse •' loans'aniount to 225;417,399.97 • 150,987,5$7..73, 1,030,048,602.8i 128,050,593.19 r 195 WHAT THE, B of M;OWES-.TO• OTHERS , DEPOSITS:'Wlule many business firms, man.ufaturers,' merchants, farmers and people in every type of buss- ness have substantial deposits with the B of M, the largerpart of the money on :deposit with the Bank is • thesavings'of well' over, ' a,roillion private citizens. The. total of :411' deposits is OTHER LIABILITIES:. Miscellaneous items, 'represent- ing mainly commitments undertaken by the Bank on behalf of customers in foreign and domesti2 • trade transactions TOTAL OF WHAT 'THE., B of M. OWES ITS DEPOSITORS AND OTHERS'.. . • TO .PAY ALL ITOWES, THEB,of M 'HAS TOTAL • RE- S.OURCES, AS SHOWN :ON THE' -.LEFT .'SIDE OF THIS ` ' • STATEMENT, AMOUNTING TO :• WHICH MEANS.: THAT' THE B of M HAS . RESOURCES, 67,972096,98; OVER AND; ABOVE WHAT IT OWES, AMOUtTING TO QUICK'LY AVAILABLE RESOURCES Thr resources, li,stcd' above, i which ,cart 'duickly be 'turned into cash cover-, '( "r of all that the Bank oyes to the. liuhlii, •T,'hese qui I�; asscaa' a1lirunt to,. $1;602,47.6,580.68 LOANS: ;During the; yer'i', :darty nll,ia'tts •of 'dollars ' hitve beert.len:t to husin.essand;�ind ttr•il rrtterprises 'fat production" zrf every kind --.,ter f.triiier , lisltc;rnte.n. lunabernicnandranche•rs-•-to citizens rri.al1 ve,ilks,o1 f'., • life, and, to Provincial and Municilmi fiQternmC•nts - ' ' and School Dititricts. '1•Iu's.e loanti.,'aio at. tfrc• !Ugh( st .year-end figure in the Bank's .history, •st ind .at BANK B111LD1NGS In lia'ntletsvJL , '!t,tti;-1-i nr� ind large :cities from 'coast to coast the li tl't 1st ,st•ryes its'custonters at mare tlian. 55tt otttct. The saltie of ..the buildings owned hi' the !Barre.. togcther. .v iter furniture' and equ:iptnent, is • slims n un' its bioks .rt �' 18,456,60.31 528,032,366.17 OTHER ASSETS Thirst clrieflylepast•nt•iia[+:litres of customers for ctrti:tritttiter t'S, Made 1Ys. ;fit tr.+nk'on their. behalf, (covering: fOttign" acrd •tlt.rtrc`'tic •tta•dc . • transactions ' • • TOTAL itES()t i c!S.W'HIC.11`TI11 B'of ri1;HAS TO MEET ITS ,013):IGATIONS , . 'a- w ,' • 82,190,529,368-92 ��y/IYMIr/. IIf :• • 41,569,66'176 • WORICI:i\i„G I' `H C,A.N.Ap1' r,+ �::., �,.ar•a.wz.;�,l�a'” �.�`>�'.�rY,'•.;+iliw'�4dik!���t'"�;.y,�' • $2,062,597,786.09 •40,432;74.53 $2,103,030,660.62 2!,.190,.529,368.92 $ '87,498,706.30 This, figure of $87,498,708.30 IS made 'up of money•subscribed by the shareholders ' ,and, to some extent, of ,profits which have. from:time to,time been ploughed back into the' business to broaden.the Bank.'s• services and• to give added,protection for the depositors. • EARNINGS,— After paying all overhead •eipenses, including staff salaries,, boiauses'and contributions to the"Pension Fund, and .afterly• making Provision for contingencies, and for fOr depreciation of Bank. ,premises, 'furniture' and i:quipnient,'the l3 of v' reports ;earnings r , :.for':the:kwelve raaontlrs._coded ..°Oabet_i.lst,_ 195(4.. cif , . _.. $.... ' 9;5.3.6,897,19 .. Provision for Dominion, Income Tax and Provincial Taxes• .. , 3,594,000.00 Leaving Net Earnings of ' $ 5 9412 897.69. This'amount was distributed as follows:. •Di ideends to Shareholders , Balance to Profit and doss Account M1 �JJ. 3,600,000.00' 2,342,897.69.' INY. `E'VERY • WA.LK 0 LIF 51t�CE 1$•17 tip••;•:$ is• !J: +'LY+. r:. .;• tr•. l.Y, i +,7.•5'r,'J'Y+tl+. ri Alsweiraakit *mat