HomeMy WebLinkAboutThe Signal, 1914-9-24, Page 2! T VII DAs, 8srrsrnits 24, 1914
THE SIGNAL GODERICH ONTAIiin
and thee, therefore, they must be
'•strung" and ready to pay. Briny
strong is having large cash reserves :
coin, lk.uiioiun voter, balances In
A. 1L iADWIN other countries, locus o0 call! securi-
EDITOS A11f0 i V IJS!!a I ties at low interest that can its coo -
1 verted at ouce into gold or Its equlva-
Tee sm,tal. r Nara lent. And so th. customer b told
hern the seas is Tau rlea•I�stWlaa. Ka i
▪ .art. underlet l)starb. that the bank has little to loan to
sutler:meno. 5'aftira-- else Dollar sod rifts
cents oar aa, . if said strictly In wt.-ann. One hie ; anything the bank has is for the
wfl�br accepted; to suksoriber- in thedepositor or other creditor. The
(:sited rum.. it,. rise Y oas Douro. sod ruts
Cents .tilody 1n &drones. Rubcrtber. Abe phrase that banks,.. I A'11.to 11.1 in this
W u resets. tits esusat. wigwam by s..tl
Wilirv.Jer a tarot Ill aogwtiml„g the publt.b respect is **percentage of cash reserve
sr. 1 the t. et at aa clubmen, ,..+
earl • dale aa p1b:e. When ^
a e•ae, or eddrawe derlrad, both old and to Ilabsilit y" A etron R (Swot" has
tae sew addre...hould be direr.. Itewitt-seow big c sob reserve.. We'll come back
may be oleo, by bank draft, eaprr.. worry .
erdw. pt -i ...a, order. or relrWae.d letter. to that phrase.
B s oesso.wob• ruesroUtUl.s •e s.1 •ny ttute. • • •
A0.vtranal' u'l risme. -K* os for dloon y usd
ea•:rar•: 1 ern' *9.,,I,. will beitivenon.ppll- Then their is another kind of bank,
MU", Legal... seother *halter advertisements, one that Is more disposed to bel eus-
We ats pr lin" for gnat l•e.rt Wn and four po• P
emu for Her fur .set" cube lues, Ine•ruon. Loaners : to help factories to keep
measured br • wale of .o1ld nenoarefl -twelve
I.rsr. t. an ,..b. Ilantnc.. cud- of .l: liner going, to aid cattle feeders, farmers,
h r, roe ft .Iter- per year. Adrerthe- I b,tildete, husinene men, s' nreker ton,
went. of f.orr, F d. Strayed. Rltuaiton. !
\'meant. altuatrow. Nutted, Her. fur sale kyr merchants. But if they do this they
to hent. Y.J.mfor Sale or to Roth Article..
ter *1.1...lr..Doi exceeding Hitt lne.,Twenty- reduce (hair •,percentag" of cash re-
teet'en! -•sten 1u..rrinn : One Dollar 1..r find
motet, Fd• y t. kit e•c1..ub• vuam ,.,outb,
61.Firt :.d.ertt4r+wrut. it, luwoetwn. An-
nottneenients m ordtnarr rending leppre. leu
t'trd. .,r lin«, No .olio, t•+s than Twenty-
n'e emit-. Any .rectal potter, the object of
wearable lite pe,•untsry b•,:e1!t of any ladivid-
ualot r.ra i•.:ku,, t , tic conatdrrrd an adver-
tisement and clout, d ar-urdl•gly.
To l'uasr-oPo atvre.--Th•, cuooyyeerrseti... of
our s'ili. I lbs.- sun reader., h. curdle:1s t►.vlt-
ed toward. making lltgeo: s AL. a a wkly resod
of ell local. convoy add dr+tnct duloa.•.No can
enunleatbt. will be attended to union It core
lain. the owe end addroit of Ilse writer, nut
n.cewir,ly for ppliiblitn!Wa but a- an et ideoce
of feed fnt•r. Vrw- Item- ebeuld reach lett
SIGNAL. utbc., r.ot Liter then Wednesday noon
of earn w rr k.
no
T111 It.1t kV. SEP' LM Wolf _i, ICI t
STRONG t3ANKS VERSUS LOW
CASH RESERVE BANKS
From tL" Toren•o Merl.:,
',trees to liability." You can t pay •
depositor with his mousy that you let
out one. note. And a public-spirited
banker -and we have some, thank
tied f=must else be prudent, and be
h : • to refuse whet a he miobt hew
Ing. But how many know that it is
the unpatriotic pride of a manager in
having his own bank strong. and who
thrtefnre tuthlrs: y refuses all as-
sietencr in 1iulesof1:outdo, that forces
Ihi' mote generously t•lis' .. 1 ba I. her
to hold back. The 11t1..•1 to letbin the
y.•e ot depositors because hr., cash re-
serves have not :he high percentage
..f "the strong beaks." 'lb* new, -
papers praise lbs banker with the
ling rash reserves : they say little of
NV's are maitre a lot of beedyray ilk the hank that doer public service by
'the discussion of hacking in this vault- •ading its customer, though at the
try. This mystery fit: put the hoe:nes. cost of cash reserves. If If we had any
is diesipatiug: a lou Aot ,1 .:tri u Sc... n►^rr "strong ha ike' than weh+re we
fish air about it wueo you ser the WI! might as well put up our abutters. if
'lifted and you hear the tuntivev that not abandon our cities. They are the
inspire thaw whoeaneduct 1:. There bar.e of the &situation today. Ask
is little patriotism in it. ur soy real Lloyd favorite.
effort to save the cuuntrv-unless the e • •
bank is Amt. eared, and that tak . ell It is these ".tr:utg banks.' the Lacks
the time fit -the oiia'Iagemttmt ! ,But with "ihit enormous earth reset are.,
hulking can be made eati,oaI, era be . that are in"isting on gold settlements
made patriotic, can bb made to mace in the cleat into house when the Lw,
"the rouiwracial and financial intere.t'at ata"nded a le"' d47s ago• makes
of the country-' : and this is s by we're bosh no:es legal settlement of all and
bean writing those articles. Thor ; any claiw.; And by their intimidation
breaking put of the war and the loud.. -and that is the word for their cots
den rush to .cover of our banks gavel duct toward the banks that do not
the people a chance to see the inside 1 Worship strength , 'r cash .reserves,
of the works, rape^inily when even a I ht's rather seek to do service to the
single newspaper hire the courage and'iusinesw community, these litter'
.,nnoero for the pnhlic welfare to ea -1 banks are deterred trout taking ad -
plain the facts and to blow away the • vantage of the recent amendment end
lofty pretensions of 'serving the cont- put out excess issue to the extent of
wuuity, 30 per cent of their paid-up capital -a
• • ' very tidy sum fol the relief of betel -
Now, what have we sten in this wake :' ekes.
Just before it had broken o.ut the + • • •
price of C.P.R. and other raitwwy I How? If they put out this excess
.tricks began to drop -caused by the 1 issue and it must oezt day be asset in
selling of German holders -and the !the clearing house with gold, they
tumhlr-downtuwble in prigs+ ruined must trespass on cash reserves and he -
hundreds of people in Montreal, Tor -femme less "strong" than they were.
onto, in every Canadian village and If this excess issue was accepted in
town. Men who thought they bad- the clearing house it would not call
some a fortune, sots a nest -.egg- on the cash reserves until such time
found themselves' without is dollar• as the war was over, bu.inee had
The stocks that they thought as good again become normal, and the redemp-
as read) money cannot be converted Lion of hank notes iu gold was again
into cash on any terms. But theme proclaimed.
people brought it ou themselve,.
That's what stock gautbling always
does.
•..
But what about omen of business-
f:ttmers, drover., manufacturers?
When the war was on, the tanks at
once closed down loans to these ens -
towers. One prominent bank, through
Ste head office, ordered its local mana-
gers to immediately cancel all credits
under loan, to refuse new limns, to de-
mand that overdrawn accounts ie
covered. that Inane it. they matured
be paid or reduced. Customers at
some banks were told that if they had
tll>tl at their credit and a check or an
accepted hill for -$1(E came in, pay-
ment would o.r refused no a:count of
"not auftlelent fund. "
•••
As a conaequence west customers
of hanky were suddenly hampered.
Factories slowed down hecause the
hanks would not mark wages checks
as before ; stores were pressed to pay
and had to oak extension : sales fell
off : men were put on halftime;
huildets stopped building ; grocery
eters. bad to cut credit to house-
keeper.: m.n with the bent of rating
and plenty of &slots cooed not get
money. We know of" deesees and
feeders whose credit at their hank was
$StllJt, and who hougb lambs and
steers to finish and could not get a
dollar. and yet this business is ,wore
pro&tahtle than ever. The beet was
that cueto..s s ,were helped a little.
Tbe beaks dill something, but a lot
leen than what they usually did.
People who used money in their buei-
nsm found out how hard it was to jet
it from hanks. who pleaded "a state of
war
•••
And here we must draw • sharp die -
tinction between two triads of hanks:
those whose motto is to make money.
Mit, •hove all, to "keep etrosg" and to
oke no risk. lave the beak and let
the country save Itself! We have
w veral of ,bis kind The hank that
told its managers to ranee) current
Masa, to refusst new loans, to sag foe
repayment of loses, wase one. They
pennies erases'sr the sky Meese. M IA
much eoscsrseA shoot depoufars--
tshat they My call for %noir mcaey,
• • •
And, you ask, why do "the strong
bank." object 'r Because they would
not like to gee rivals serving the pub-
lic while they were refusing assistance.
For this is the real situation: "the
strong book" distrusts the situation.
distrusts his customers and the pub-
lic, refuses to take any more risk ; but
keeps ,roasting about his cash reserves
and inviting a contrast with others.
He seeks to force the more liberal
banks to get in his class, and all be on
Apar!
• • •
There will be no improvement, or
rather there will be little advantage
to the public, of the proclamation
making bank notes legal tender and
allowing excess issue if the minister of
finance does not compel those high
and mighty "strong banks" to quit
their intimidation and tbemeelvse take
advantage of the provisions in the re.
Dent act "to conserve the commercial
Make Sure of a
Steady income ?'
Put your savor, js anI surplus
profits into the belt div.d.nd
paying security. 1 ac
e�r^eCent.
` eMUM'S
of thesesnd•rJ Reliance !I riots*
C.orppeerr•atbew .re secured I., a Prod .
upCepttal1glit1MrMO0(isndA -
woof $S.00no) 00 Titer Je
boon n,e sneers you • tl•p•ad•ile
Income •f S", pet ann90'. paid
half -yearly, pese*uelly surds* Alio
W. lenses •A •coat• .1 Lees.•
g...
ewe •esee..tiro,,al crises
skew *shoe W. sl.,e,
flak r. Owe, iii••••••11...
ess,wle sa.Akd .e.
.stews.
lance
MY ran rT Vire .voimer
W. L. HORTON, Godsrkh
hesiL&d D:svcass
j
t
and nemesia) interests d Canada" and
help the public "In time of war." Whist
did Loyd George do i' He passed relief
laws. put the goveroweut behind the
brinks, "took the risk," to use his
words, and then called on the hanks
to sharo in the risk of the relief mew
urea and "Annum business!" If you're
a bank .Ju business. And he made
thew. ljur stroug becks don't want
to finance bueiuess these days -just to
be strong with the big cash reserves.
What is the Hun. William Thomas
White goinj to du? Will he be •
George or a McAdoo? Or will be let
the strong banks make the bank and
currency Laws of this country if they
Gunk At to do so? Who had • voice
in this legu.latiou but the president of
the haukers' inseeitalion
. • •
And now we retrace a bit. ‘Ve
' poke of • swilling bank being never-
theless afraid of going beyond the
sate limit in depleting Shy way of
loans) its cash reserves. As we said,
you can oily pay depositors out of
cash resrrt-es-you can't pay them
witL: the note takeufiy the bank from
for person who bor.'uwed the deposit-
or's money. But when you have a
national reserve bauk, a uatioual bank
of'discount, with u•t' Ione( ,nut's seem-
ed by the credit ot the v.,untry els wish
'as by a snbstsutial gold reserve, the
b*nl.rr wbu call waste to Le liberil psi
Customers knows that he can teals -
count the commercial paper or other
securities be hoist' in the national ilia-
ceunt.bank 'awl pay the depositor at
et any moment.
t • •
That pert of banking which turns
on big casts reamer,. will thea go out
of boasting. The rttoeg hanker will
only accept a national hank of Ai._
count by obs sr fvrea. Nor dose be
like legal tender bank 'iota. He
wants few hanks, stroog banks, bank
Merle lit y, and the whole business an
ab,olutu monopoly in private bands.
Now banking to these wodeto days
must l.. a Mete affair, a national
*1?..,, with the pleat's -owned ur coin -
patty -owned bank a junior partner.
The state must supply the currency
Sod t he oredit. and force . the ordinary
banks "to finance business." And tbe
state must do the rediscounting for
banks in 0atkwal notes so as to do
away with the ,teed of .excessive cash
reserve*.
. • •
And au a last continent for today,
on big cash reserve bank.:, let us re-
mind the reader bow rapidly the ^n.h
reserves of the Bank of England haste
been depleted in August and Septem-
ber Prem 50 per cent to 13 per cent
also bow 'the cash reserves- of the
banks of the United States have fallen
below the legal descent/Age. `Sotos cf
our banks that would- prevent the use
of legal tender. in the clearing house
ate stronger than ever in ca►h re-
serves. anti they are consequently
doing less than ever "to Anance husi-
" BUSINESS AS USUAL"
,'tom the Toronto datordav Night
"Business as usual," is the slogan of
the people in the British Isles. The
Canadian chattered banks do not, as a
rule, appear 10 have a very clear ap-
preciation of just what this means.
Shortly after the outbreak of hostili-
ties, certain legislation was passed at
Ottawa upon the recommendation of
the finance minister, Hon. Mr. White,
the intent Icing to relieve the very
situation which the banks by their
present niggardly or timid methods
ate serving to aggravate.
•'Business as usual" cannot be main-
tained without a fairly free supply of
money. Manufacturers cannot buy
raw materials without funds, and the
funds, according to the manufactur-
ers, are not forthcoming. Upon the
hanks mu.t rest the onus as to
whether commercial wheels continue
to turn or bolt, and eventually come
to • standstill. The legislation pro-
vided by the Hon. Mr. White to
meet the present emergency is per-
haps as liberal as regards our banks as
can 1.e well Imagined. in reality the
federal government stands behind each
individual bank to the extent of dis-
counting its securities, issuing to the
banks Dominion notes in place of
these securities which cannot at this
period be realised upon. Furtbermore,
Ow beaks under this emergency leg-
islation are not only all:wed to issue
hank notes to the fuli extend of their
paid up capital but may far exceed it.
Th. finance rainbow/es idea las placing
the credit of the country behind that
of our chartered banks to this enor-
mous extent. and In a manner that le
unprecedented, was that the hanks In
turn might be able to stand behind
their custodian, and thus perveat to a
greet deterred stagnation of Weimer
But what bas been the result f The
federal goveeeren t has performed It.
part manfully, but bow of Use basalts
As a matter d fart. they have. with
• few notable ezeeptiosa, dose
nothing of the kind. Many of them
see en beery piling up reserver and re-
etraieing penal* !rose drawing any
part e1 their savings, that they bays
utterly mored their portion et the
esMtset ss rwerante keepleg the
wires, of enamel et, emoted aed heel -
Riles moving. Mannfertnre s Med
httltlllases tlmM .f eaqueetUoaed worth
T. Swarts'
Livery
and Hack Stables
MUlIIRiAL 8TM.*IT
JOWL' ole THU SQUAWS
V •
BUSES MEET ALL TRAINS
AND : PASSENGER : BOATS
Passenger. celled for in
any part of the town for
all trains at G. T. R. or
C. P. R. depot". Prompt
wrvies and cat eful atten-
Our Livery and Hack
service will be fantod up.
t'. -date in ever) respect.
Your pat, nnwgr solicited,
T. SWARTS
Phone 107 \luntrrwl Street
MacEwan Estate
exclusi.a agents for
SCRANTON
COAL
for (.odericL and District
e
Egg Coal. $7.5o
Stove and Chestnut,
$7.75
per ton
BEST COAL MINED
Aov quantity best all Maple
Slat«. Mixed Wood, Remit -telt
and Kindling Weiler or Pine.)
TELEPHONES, (tioe y$
religion au or lig
ACROSS THE SEAS IN
TIME OF WAR
It was 1n Glasgow the first week of
the war. Crowds were everywhere
but ey attention was tut -acted to • a
rwppsge of tae trail. in frost of a
efnaU grocery store. The helmets A
two policemen were wen bobbing
above the other heads. On my en-
quiring as to the meaning of the long
queue and the jostling I was stared at
&s some object of extraordinary curio-
sity. "Don't you know that toe Ger-
mans sae coming and that sugar is
nine pence a pound Y' That was
typical of the lint week. Sugar
eighteen cents a pound! And the
people .u -rambling and fighting to buy
it at that price and net one pound
or two but by the stone. Many of the
show were sold cut of Hour, meal and
sugar in for course of the forenoon
and the crowd tithed to pme other
msicbant that had atilt •a supply on
hand.
Rut the panic was foolish and the
panic -loungers more foolish still. Two
^wswks later sugar was down to six
cents and there was an wbytilantsup-
ply ut all the staple groceries at very
little advance in pricy. The people
who grew hysterical paid for their
hysteria in cold cash and the eho{t•
keeiers p cketed the receipts. And the
Scotch are called a pblrgmatie race !
But what moat be emphasized about '
the situation in Britaiu is not tbe
panic but the calm. When i arriiled
in Scotland tbe railway.' everywhere
were in the hands of the grieve ltrurut.
All special tickets -week -end, ex-
cursion, rte. -were suspended but the
ou!e was made that one could travel
un any railway between the paints !
mentioned on the ticket. Thus my
ticket to Aberdeen cost three tiwes
what I expected but then 1 travelled
there by the Ualedontan railway and
returned by the North •Brkisb, some-
thing one cculd not do ezaept in times
of war. And there was tttah but little
excitement. To begin with 'One war
informed that no guarantee could be
given of the railways bringing oma
luck hilt the week I left lbs usual ex-
cu.sioustore e.e'ywhere advertised.
And newt rew.rkahle of all the special
hoar trains from. London connecting
with the express to Paris were ell
begun again as if there was no Ger-
man fleet or army in existence! That
is surely eloquent of the e*lui to
Britain.
One is locoed into the greatest ad.
miration fur the present government
to the mnnalfewent of the •itua•
The hanks, the large wool-salere of
medical or iuilitaty supplies, the big
manufacturers and the newspapers
wok all dancing'to tit,- tune pleyeil by
Kitchener and Lloyd -George. tioiue
tried to take advantage of the crisis
by worrying the politic with no er& t,.
Increased priors., and rtca• 1. bead -litre
but they reckoned without the enmity
of the chancellor of the exchequer end
the war minister." An attempt to
create, panic and profit by it was step-
ped
teleped on immediately. Banks were
threatened with the withdrawal of
their eharten., rnanufecturenr, with
being blackballed in the name of the-
guvernment, newspespet • with twin4.
pest ,.fit of exp -truer. .►old If the la..
wa,. n..L o•, the aide of the gsveu.
utr..t special legislation was rurbe••
tl,roug'i 1'.rliausent to love Lilo
aulhos tile- the power they wanted.
11./1 course toeliab folk -especially
and stability are wilting S.tutdey
Night complaining of the treatment
accorded them.
".How," sass one. -can we keep our
nien employed and our factory mov-
ing when from week to week we are
not sort I •.at fir t ay check will he
honored. 'l'he ,,ant refuses to dis-
count out ,pep • aough the federal
govermen'• : • t. tis is prepared to di --
count the ,,.,it's ;,,per. How node,
the circum.tanc: -, can we .1 • other -
'
wise than turn .sari hand. alriftY
1t, woull be well if the chartered
banks of Canada took full account of
the present emergency. The mere
giving of certain porportions of the
stt•ckholder•s' money to that Patriotic
fund does not absolve them from
their responsibilities in other quarters.
They must justify their existence and
justify the public policy which has
given them a monopoly ot the work•
iog capital of the country.
Our banking system is on trial. 11
it foils us in time of greatest need,
then it will be the duty of parliament
to so recast the Bank art that future
emergencies will be fairlymet.
THE BRNKS HAVE FAILED 1N
THEIR MISSION
Frees lbs Baaente. t:.pta1
In the A •on •bel ' r'r'. wbi •h a""om-
ponied t a . Avner •au • vino business
was ata.' ated her. hers •' as not
sufficient cu.. rosy 1 • Male - w tads
the credit sy.-em of the cuu•.try bail
broken down. In that emergency,
the thing that saved the union wee
the "greettacks"-a national cur-
rency.
in the present emergency la Can-
ada the government baa goes ea the
hypothesis that the bankers d the
country could be depended upon to
act in the public Interest. The gov-
ernment. upon this hypothesis bas
given the bank nous Its imprimatur,
has given the basks the right to
issue a greater •.const of eur'resey-
bscklug •very cent of it --and has
deposited w ith the banks Dominion
notes of an amOsnt presumed to be
piimnleot to guarantee against any
sudden oeeur eeee. d paaie is nay
quarts..
But the banks are not using tills in-
creased scope for the booed' of die
public. They refuse to lead the
money. In the face of se acute coo-
ditloe crested by the war they refuse
to be huskers. They are sot in o
stated war, but la a Nate of serge.
The cure for Ude condition le too
obvluus to moire even expression.
Call off the hank currency and (.sue
the national metre y direet,
Wll.nn is doing it in the United
States through his federal reserve
hos rd.
The hanks here failed In their .ds•
Aon. Trey ars Rn longer entitled to
their frseehles to print ssosay. The
Ipveesent i. bashing It all taster they -
tray . Why should the /oar resat
not Isere It all f
ADVIi�T� 1I1 ?R* U1011&L
touruts Leon obOrr lands --were easy
mark. for the wit of the natives. On
the top of a big building on the Strand
a bugs network structure was being
erected for au electric sign. One
nervous old lady enquired of the bus
conductor what that network was for.
The reply came immediately "lo
protect the building'awagainst the bombs
of the airships ma," and the an-
swer was rec:•fved without the sign of
a smile! Near the Embankment the
street was torn up and • deep cave had
been dug for 'dine underground sewer
work. Another easy mark enquired
the meaning of the digging. "On, sir,
that's a bomb proof r Ave."And so on
it went. But there was hard a trace
of excitement. Even around White-
hall, where the War Office. the Ad-
miralty headquarters and the prime
Minister's residence are. the crowd
was little more than normal. The
newsboys were screaming out their
war.pecials bet everywhere boniness
eras going 011 as u.ual las wee every
where advertised) during the altera-
tions of the 'asp of Sur^p".
Tw • s •-..es 1 9 I v• au .ty u •• 11. • 7
iu Coale •'ti.rn ••111. 1.,: via.,- or in
ore trot .. of tae •tiamw ti a P ..by-
i.rias cf. •rRb, ,. a teller „o the 1 wrleb
rinrreb • s vill ire 111 0.1r, • 7.
Toe cold au.wte .s.vioe of the
Scottish kirk bad begun with the
mini/log of a Psalm to • weird minor
tune. A snort rovocatoa was uttered
by the minister. immediately after
there was an ominous pause. The
a1sieter seamed ill at ease as he finger -
Aid. a bias paper and spread it out o0
the puIplL The coogtettetion waited
somewhat impatiently at this interrup-
tion of their worebtp. And then came
a aisles. Any tnecrhess d the t•r-
titorW forces or ressrvi•ts present in
the church were requested to leave
and immediately report themselves to
headquarters. Made was a daub -
like silence fee a tenoant. From one
corner sad them another a figure arose
sed slowly walked down the aisle sod
oat It w0.'sapassibis to ..ssi.' d.wo
to worship snot tbat. The air was
full of vi•iose-of blood and taroarps-
the sWl.ees uI boos. of God was
bswkes with the of shall, and the
dis,o( gusts. M brothers, Adan
were left Atting (herr. but they would
go home and see Lb. menet 'hairs
that misllt sever ag•la be oessupi.d.
The other sees was Jed as im-
pressive. it was • somewba% ornate
chorea of Bagload nerviest. Illolttni
Prayer and Use Liles, had ..dM.
Hol Commission as al.n wjust amiantus,
Witt nodes and seemingly with.
pet emotion the Teeter turned as;
said : 'The prayers of this eosgepp5.
don ser asked for the following who
have gore forth to @erve their klag
sad eoustry." Arid then followed a
list of over • hundred Aloe's- eoidien,
sailors, o.rsse-of the villages wt"*
kite already goat to the fighting frost
The Met four names were broths/a-
ttires le the army End one In the navy
-bar sous given to war. and they
were eons of the peter himself. thee
ray Sometimes forget the reality d
imteruassioe but throughout thee old
ween's.•stained bsiMl there was a
ware of Iwt•ass su leatMn that
bowled all Beeves ty In • ti f. of
deep'raausm.
Wes hese tow's to town 1a %its
moameameamosmoommoompommempieommeambemb
W. AEON 8 SON
Ladies' Accordeoii Pleated
SKIRTS $1.00
Undrtsklrte of silk tlni•h sat.en nicely mod•• nntl finished, in
all adore. green, pinks, blues, purpler, etc. Nps., .9y prices( 31 .it'hQ
Sateen Underskirt.., acco,deon pleated. very Ane sod per-
fectly .made, special fit. 31,80
►Silk 41e.snline Uoder•kirts, all silk. all colors, new secordeoo
pleated, equal to former valuer wt MOO, speci,lly pole -d at each
e• . 51.75
WHITE COTTONS
an inches wide heavy English Cotton. entirely fres from fil-
ling or dressing, special 12 c value, at per yard 10e
TABLE LINENS
72 inches wide, Anent double Satin Table i)amast, in H pat•
terns, our regular $1 2i1 and $b.:ti quality. at per yard ... ....95o
NEW COATINGS
Heavy pure all wore 3d inch Coatfngs, in plaid., chet•ks and
tweed mixtures, blues, greys, reds, greens, special valises ,t
5 and `1.50
HOSIERY
't nglisb 'Lib Cashmere Hose, our -famous brands - "A" end
"911" every size from It to 10, new goods at old- price., 23; to :,Ike.
FLOOR RUGS
New Union Hogs, reversible, in neat, correct patterns, sizes
313, .44x4, 3451*, at per a,luare yard
CORSETS
50c
A La Grace Corsets are at the summit for gond material,
perfect fitting and correct style. We carry A La Glace (or.
bet. exclusively in .11 sizes, 114 to 3o, and all price. ,
...75a. 51.00, 31.25. 51.50. 32.00, 32.50, 53.50
W. Acheson' 0 Son
market-placr and is the wao,tuary ,
the spectre of war grim and Kleist -
liked followed.
On the steamer coming acress there
was ,s fretful Iron ui Atu.erican re-'
fugee". Many of them had strange
talo., to telt of their escape (routine;
continent. One hsd bt--n serrated in •
Germany and had sp-ot some days in
a t.erman prison until rescued by his
con.ul. .tuother had hemp VS hours in
1 I, ix car wilbout l.read or water.
Bu all erre initiated to be 1...ding
w.-ewerd, even it it wan ire semi ds.k-
nes. by night au•i w•• o tl. al•nJ• t •.1
61. n n. arunn,i. k•:. .'way- r.1 •.
w... ' ale... Appy !, •ts' ..• our :'n• tab
nes y. Hsu. 9 sofa we . ...ac • u ih••
roiling der;i t'i1uoly •.t. bevy 1.•'
twerp you anti ',boaster the hoisting.
would he re sincere. The airtime..
tbies of the A.bericans were all with j
one accord with the Allies. s One day
in the smdke room we were discuss-
ing the character of the kaiser. The
general verdict wan that he was the
wad dog of Europe- Sud that he
should either be chained up or sbol.
There ons one Scot in the crowd and j
very quietly and grimly be put in hie
word: "if he's the tuad dog of Europe,
its' a peeks he sestina dried when he
•
.1b•• a pup.'
Mad, oh aO snail ! Mad with a vaunt-
ing ambition (bat overleaps itself
The end fur himself must Ike ruin.
The pity of it is that hailed in that
ruin most be tens of thousands of the
best blood of friend and foe alike.
J. R. Frrrtocnt'ou.tst.
-Who were the three •Godetich I
gentlemen who got Iost in the Grand
Trunk depot at Stratford. when re-
turning from Tot onto elhihi•ion . and
found theruselves about Ave minutes 1
after the r -sin h • •1 Iwtt
•
SUBSCRIBE FOR THE SIGNAL
LUXURIES
are of many kinds, but we nuke •,r
luxury Ott of • necessity.
IN BATH ROOMS
we use the greatest preceuttoo to in
stall only the latest and most sanitary
appliaaoe•.
BATH TUBS AND ALL PLUMB
ING
from this shop is the test obtainable.
Satisfactory estimates on new or re-
pair work.
FRED ,HUNT
HAMILTON STREET GODERICH
PHONE 125
Qei�et�.mvas�lae.wr
Housekeepers!
BUY only goods MADE IN CAN-
ADA and keep the factory workers
employed.
KELLOGG'S
TOASTED CORN FLAKES
is the only article of food under the KELLOGG
name that is of CANADIAN manufacture. All
others are imported and do not help our work
people.
Keep your money at home.
TATTLE GEEK TOASOL1 COIN FLUE CO.
LONDON, ONTARIO, CANADA