HomeMy WebLinkAboutThe Lucknow Sentinel, 1943-12-02, Page 6V
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Kinloss Ratepayers Differ
° (Continued front Page One)
ed. Thirty per cent of• the cost
is borne by- the province. -Two
o e . •s 1 sections in •the To'Wn-
ship.have ince adopted this sys-
tem of dental 'care,- he said.
Faults' Road .InstYiranee
Councillor Dan T. McKinnon,
Who was a delegate to the • Good
1 oad Convention' this year, said
it had been quite disappointing
to: him°•
He explained and approved the
• Council's action in investing h„
▪ the: Fifth .Vlietory' Loan whi4h
pot •only was a • patriotic and
sound investment, but ' will pro-,
vide collateral against which the
Township can borrow ata lower,
,interest rate. • .
•
Mr. McKinnon .touched: on the
matter of road insurance, which
he •Said appeared to him to sim-
plyy insure the neglect of a C'oun-
•. • ell. It is only good on the trav
elled , portion of the road, and
only .in, cases 'of hazards ;which
, the board knows about.
Calls For Co -Operation
► Councillor John W. • Colwell,
as- did the 'others, thanked the
ratepayers for electing him a
year ago. He had been here be-
, amore -for -all ng t e ire sand; :r
he .thought lie had a lot of sins
to answer for. I intend to stay
with you, he added.
With; reference to the Ackert
Drain, . Mr., Colwell remarked
that "the. most, 'vital thing of all
He said ,that no report troln
the new engineer had been re-
craved" on the Ackert Drain, but
when it does coma ' he appealed
to "the .Council and ratepayers
to get ' together and we can
surely straighten out this tori
tentious question".
Nfr. Murray, president of the
Lucknow Branch of" the Can -
radian Legion, 'appealed. tb .the.
meeting to see that the men ;who
a ae.4,inxalided . home from over
seas. get the best' vve' can • give
them.
We honor thoseawho dont come
back but it "4s the duty of every
government from federal to mun-
icipal to, be concerned over the
welfare of those who do,.and. of
their' dependents. • .
He said that The Legion .wiish-
ed -the name of every soldier and
his occupation, and he appealed
to the residents of Kinloss to
co-operate in this regard in their
municipality.
Claim's By -la* Invalid -
George Tiffin claimed it was
an invalid by-law' on which the
costs were placed. He quoted the
referee's judgment as stating
that,; if it was a valid by_ -law, we
could not repeal ' it, i5t that the
referee saw no `reason why they
couldn't." repeal it. If it is an
invalid by-law, .those on the
scheme think it should be charg
ed over. the `whole township,* ha
-has-not_..been touched on: said..
ing to take the co-operation of
the whole community to
straighten it out", he said.
(During the year the Council
levied the accumulated , costs of
the Ackert Drain, up' until the
time that the Archibald by-law
was repealed, against those in-
cluded in the .scheme... This a-
mounted to approximately $1,300.
or a per acre cost on land . at-
" fected of 111/2 cents.)
Mr.. Colwell said, with . refer-
ence to the above, "we took the
only course open to get it squar-
ed ;away". This action was taken
on the strength. of . the following
motion which; Mr. Colwell asked
the Clerk . to read to the meet-
ing: "Sept. 30,' 1940, Moved by
McKinnon and Tiffin that ' the
Clerk draft a by-law placing the
accumulated costs of the Ackert
Municipal Drain • Improvement
By-law being By=law number 3;
1939, pro rata against all the pro-
perties assessed under the Archi-
bald report on the said Ackert
Drain". ,
At the same meeting the Arch-
ibald by-law :was repealed by
this motion: "Moved by McKin-
non and. Tiffin that the Clerk:
draft a by-law repealing., the 1st.
'reading of By-law number 3,
1939, being the Ackert Municipal.
Drain Improvement By-law and
also the adoption of - the
Archi-
�� bald report of the sad Ackert
Drain". '
Those• opposed to paying the
assessment contend- there ,s nci
scheme against which ,the costs
can be levied.
Me. -Colwell pointed out that.
the costs up to that point should
Have been collected before an-
other engineer Was brought tn.
The Ackert drain should bear
the burden of the Ackert drain,
Mr. Colwell' contended.
The discussion at' that point
revealed that td date the .drain
had' .. cost $3,122, of which ap-
proximately $1300 had been lev-
ied against the scheme.
Wants Data on Soldiers '
Councillor P. A. Murray, in
00
referrin 1 f $13.00 °d
for six geese, pointed out that
poultry nbw came under the.
Livestock Protection Act, but
' -claims haii� cold naounr7��ntared with
lost
Pound; of l)"oiiltry
affected. tire.If a recommended that an ap-
plication be made the Referee for
a replacement of these costs, and
that ,his . decision be :abided; by.
Mr. Tiffin said these'costs should
have been ' placed on the roll a
year ago, but: Mr. Lane in re-
ferring to the minutes showed
that his first authority to do this
had- been given in July. In view
of the critieisrn of are minutes,
Mr. Lane went on to . say that
the refusal to pay was a mighty
small" affair in his opinion. He
said that 'if Mr,' Hughes had won
his lawsuit the' Township had
a right to pay.. Mr. Hughes said
,he wasn't beaten, that he hadn't
had:a hearing, nor a witness :call-
ed. Mr.. Lane contended that the
action had.been in court and was
dismissed, which was the' same
as being .lost. This brought' the
retort from Mr. Hughes, that "a
servant of the municipality is not.
supposed to" take part in.any con-
troversy".
Mr. Lane referred to By-law
No. 6 as a "joker" unless it was-
intended
as
intended to collect under its ,pro-
visions.
Mr.. F. G. Moffat ' pointed . out
to the residents of the nofrth-end
of the Township; not assessed in
this.draiil, what he had obtained
forthem on the Black Creek
Ditch and Extension from the
provincial government. You have
beers- taken care of pretty . we11
in the North, he said.
Mr: Moffat contends that the
Archibald- scheme is dead and
can't be collected under.
Mr. Ernest . Ackert advocated
that a committee' be appointed to
interview the RefereeG'rregarding
placing the . costs, but Councillor
•McKinnon explained, 'that . unless
an objection was made by some
ratepayef - , the: Referee 'would
only referee the committee to a
solicitor. :
Reeve Elliott " replied , briefly.•.
Road Superintendent Alex Mac-
Leod reviewed township road ex-
peditures during the year, arid.
Thomas Gaunt,, township treas-
urer, reviewed the financial
g to a claim
l
o pnr standing ,of the municipality
"Well, .I'll be going now. Don't
trouble to see me to
the door".
= 10 tri�il.. n a... -a
00.
OF MONTREAL
Founded in 1.817
resentation, in o eds l understandable` form,
p
of the -ank's
NUAL STATEMENT
.30th .October, •,1943
RESOURCES
Cash in its Yanks and Money on Deposit with
Bank of Canada . .
Notes of and Cheques on Other Banks'. .,.
Payable in cash on 'presentation.
Money on Deposit 'with Other Banks
,'Available ondemand or at short notice.
.
Government, and Other Bonds and Debentures . .
Not exceeding market value. The greater portion consists of
Dominion' Go4'ernment and high-grade Provincial and Munjcipai
• securities Which mature at early dates. ,
Stocks . w h. '
Industrial and other stocks., Not exceeding ma• rket value.;
all-. Loans s ,
In' Canada . .
Elsewhere .
$ 3,350,701.53
18,686,280.46
$122,277,005.70
50,30,612.03
-41;078;651.-11.
799,462,639.56
385,280.79
22,036,981.99
• Payable on demand and secured. by bonds, stocks and other
negotiable collateral ofgreater value than the loatu.
TOTAL OF QUICKLY AVAILABLE " RESOURCES $1,035,610,174..18
(equal to 83:81% of all Liabilities to the Public)
oans torovincia anzl� um ijsa o-verTfine-rrts
including `School Districts
Commercial and Other Loans .
In Canada
Elsewhere' . .
To manufacturers, farmers, merchants
-consis-tent-withsound -banking.
Bank Premises• - •
Two properties only are carried im,the names of holding, com-
panies; the stock and bonds of 'these companies are entirely
owned' by the Bank and appear on its books at $1°00 in each case.
All other of the Bank's^premises; thevalue of Which largely
exceeds $15,400,000.00 are, included under this heading.
Real Estate and. Mortgages on Real Estate Sold _by
the Bank . , ;
Acquired in the cours' of the Bank's business and in process
'of being realized upon.
Customers'_ Liability under Acceptances and
Letters of Credit,.
-Represents liabilities of customers on account of Letters of Credit
issued and Drafts accepted by the Bank for their account.
Orth Assets not included iia the . Foregoing (but inciidd-
ing' refundable portion of Dominion . vot*im nt
taxes $19;472.75)
Making Total Resources, of . .° ` .
LIABILITIES
. $215,445;397.Q5
• ' 10,954,254.27
and others, on conditions
Due to the.Public
Deposits ., .
In Canada
Elsewhere . •
17,544,577.50
226;599;651.32
13,400,000.00
- 553,727.65
17,068,844.05
2,487,682.99
$1,313,064,654.69
• $1,205,874,791.46
$1,046,857,927.64 . •
159,016,863.82
Payable on demand or after notice.
Notes of the Bank in Circulation . • ;, ;,
Pay&fle an demand. ,
Acceptances and Letters of Credit Outstanding . .
Financial responsibilities undertaken .on behalf of customers
(.re off -setting amount in "Resources.").
Other Liabilities .. . ▪ .
Dents not included under the foregoing headings.
Total Liabilities to the Public : : - .
To meet which the Bank has resources as
indicated above amounting to
9,790,640.00
17,068,844.05
2,897,045.82
•
• $1,235,631,321.33
$ 1,313,064,654.69
Leading an excess of Re ources .over Liabilities, • which
represents the Shareholders' interest over which-
Liabilities'
hichLiabilities' to the. Public take precedence.
Capital • . $36,000,000.00
Reserve Fund, Profit & Lo• ss Account
and Reserves for Dividends . . • 41,433,33336
77,433,333,.36
PROFIT and LOSS ACCOUNT
P.ro£its for the year ended 30th October, 1943; after making apptlhpria.
tions to Contingent Reserve Fund, out of which bund full provision for
Bad And Doubtful Debts has been made, and after deducting Dominion
GovernmentTaxes amounting to $2,913,194.04 (of which $163,585.92
is refundable*Her the provisions of The Excess Profits Tax Act)
'Dividends paid or payable. ;to Shareholders . . . $2,160,000.00
Written off Bank Premises .,. 300,000.00
Balar°rce of Profit and Loss Account, 31st Qctober,_1942
Balance of Profit and Loss carried forward
GEORGE W. SPINNEY, • • B. C. GARDNER,
President
ik *. *
IIThe strength o f a bank is determined by its history, its . policy,
its management and the extent of its resources. For 126 years the
Bank of Montreal has been in the ' f ore f Font " of Canadian finance.
$3,302,834.14
2,660,000.00
$ 644834.19
$1,236,686.94 ,'
$1,879,521.13
General Manager
air