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HomeMy WebLinkAboutThe Wingham Advance-Times, 1943-03-04, Page 3PAGF. TEIRS OUR SERVICES SAVINGS 2% on deposits, withdrawal by cheque, One dollar opens an account. INVESTMENTS 3W0 on Five Year Guaranteed Investments,. LOANS, Applications invited for First Mortgage and collateral loans. SAFETY VAULT Safety Deposit Boxes for Bonds, Deeds, Wills etc. Reasonable Rental. ESTATES , In appointing the Grey - & Bruce Trust & Savings Company as - your executor and trus- tee, your estate is assured of: (1) Continuous life (2) Experienced management (3) Financial 'responsibility at no greater cost than the inexperienced private executor. INQUIRIES INVITED The Grey&Bruce Trust & Savings Company Owen Sound, Ontario 'World Wide News In Brief Form coupled with the forthcoming $3;890,- 000,000 war appropriation bill and the mutual aid bill providing for a contri- bution of war materials to the United Nations -tp a value of $1,000,000,000 will bring total government expendi- tures to $5,500,880,000 and supple- mentary estimates and bills will carry it still higher. Throne Speteh Adopted Ottawa, Freed of the three-week debate on the throne speech, the House of Commons prepared for ex- amination of finances and the estab- lishment of committees to examine war financing and post-war recon- struction programs. The House re- jected a Progressive Conservative amendment to the address in reply to the throne speech by a vote of 150 to 45, and subsequently adopted the address on division but without a re- corded vote. Canadians To Get Their Chance London, War Secretary Sir James Grigg said in the House of Commons that he trusted impatient Canadian soldiers here "will not have to wait much longer" for a mass attack on the enemy, Sir James said that the Canadian Army in Britain had been irked by delay in "engaging themselves in hulk - against the enemy." "We trust that they will not have to wait much longer and, when their chance does come, we know that they will acquit themselves doughtily -and that the mother country as well as the racist of civilization generally will have abundant reason to be grateful to them,' he said. Deposits Withdrawable by cheque Total . . • • . . • $1,513,074.61 • . 2,186,126.20 • 61,582.78 $3,760,783.59 • • • ur financial Statement In an easy, readable form. 53rd Year December 1942 Received from the Public Guaranteed Investments Other Funds . Have Invested These Funds as Follows: We • • • • • Additional Security There are Additional Assets including Reserves, totalling • . . $768,617.60 Call or write for your copy of our Annual Report The Grey&Bnice Trust andSavingsCo. Owen Sound, Ont. ASSETS in our care totveased--$809,116.99 Total $6,617,614.52. Increase ▪ $406,753.57 ▪ . . 966,139.55 • . 2,093,996.63 • •• 266,768.42 35,490.83 398,388.16 ▪ • • $3,706,783.59 Mortgages Bonds Dominion, Provincial, Municipal Other Bonds and Securities . Interest Accrued . Cash . . • • • • • • • • • • • • Total Investments . $2,108,213.33 This amount represents the total of Estates and Trusts in our care for management and distribution where we have been appointed as Executors, Administrators and Trustees. Increase - $400,889.48 • • Time Deposits • • • • 'Thursday, Mara), 4th., 1943 WINGHAM ADVANC -TimEs A Nazi Withdrawal A Surprise Allied Field Headquarters, North Africa, — The Allies are breathing easier in North Africa now with the Axis withdrawing from the Kasserine Pass, but it a puzzling game the enemy is playing. This narrow gap with steep, granite hills rising 4,000 to 5,000 feet on either side is the key to the 'Southern Tunisian front and the German withdrawal from this ground comes as almost as much a surprise as was the sudden loss of the pass. Scorns British Tank Policy London, — A charge by R. R. Stokes, Labor, in the House of Com- mons that Britain's position regarding tank production is worse than it was two years ago drew an instant denial from War Secretary Sir James Grigg. "Some of the developments he de- mands and says are being completely neglected have been going on for months," Sir James declared. To Pay More Toward Job Insurance Ottawa, — An estimated increase of $3,000,000 in the Government contri- bution to the unemployment insurance fund is provided for in Labor Depart- ment estimates, tabled in the House of Commons by' Finance Minister Ilsley. Total estimates for the depart- ment in 1943-44 are $21,930,695, an in- crease of $3,036,315 compared with 1942-43 'estimates. Peace Rumours From Turkey .Istanbul, ,This city, nearest neutral point to the Balkans, is a sounding board for the multiple .peace rumors affecting Bulgaria; Rumania and Hungary. One Hungarian official and two Bulgarian emissaries have ar- rived here; and there are rumors, as well as persistent denials in well-in- formed quarters; that Michael Anto- nescu, acting premier of Rumania, also will arrive, Britain On Double Fast Time London, — Home Secretary Her- bert Morrison announced Thqrsday in the Hottse of Commons that "double summer tittle" be inaugurated in the United Kingdom April 4 and will continue emit August 15, Double slimmer tithe in Britain is six, hours ahead of Eastern Daylight Time. Predicts Era Of Prosperity Toronto,—Lt.-Col. George A. Drew says that if Canada decentralizes its administration and maintains a "vigor- otts" British partnership, the Dotninion will enter a post-war period of expan- sion and prosperity "far beyond ally- thing we have ever dreamed of in the past, Canada To Spend Over 5. Billions Ottawa, Over-all expenditures of more than $5,500,000,000 by Canada hi the next diseal year are in prospeet following presentation of non-war es- tiniate$ for the year beginning next April 1 of $510,80,404. Main eStittl. ateS for other than direct war costs - were tabled its the House of Commons late yesterday by Finance Minister . I tisley, The OS iniate Of $0t0;830;494,, Plenty of Nazi Subs Quebec, — The-Germans may con- centrate as many as 500 or 600 sub- marines around Halifax and New- foundland next summer to harass Al- lied convoys, Rear-Admiral V. G. Brodeur, member of tile naval per- sonnel at the Canadian legation in Washington, said in an interview here. It was latter explained that he said in the Atlantic, not as stated above. , Bomb Fell On, Charlottetown Charlottetown, — A bomb dropped from an unidentified plane exploded about 100 yards front a home „outside Charlottetown, shattering .windows, shaking buildings and tearing a crater 10 feet in diameter. No one was in- jured as the bomb landed in a field on the . Mount Edward road, near the Charlottetown Airport and about a mile from the city. Suggests War Cabinet For Churchill London, — Prime Minister Church- ill's illness, now reported for the first tune as pneumonia, has again brought out the suggestion that a small, office- free wait cabinet should 'be established. Attacks Recruiting System Ottawa, — John Diefenbaker (Frog. Cons., Lake Centre) said in the House of Commons the Opposition would in- Sist on equality of service lit all parts of Canada, I4a quoted: figures by the Government showing that the percent- age of enlistments to total male pop- xdation by Military districts ranged from .37.9 in M. D, No. 0, Nova Scotia, down to.AG in M. D. No, 5, Quebec. Russia In To The End . Washington,—Chairman Tom Con- nally (Dem., Tex.), of the Senate foreign relations committee, expressed the belief today that Russia will stand With the United Nations until the end . of this war in order to render the AXis incapable of renewing a world conflict in _years to come. Legislature To Increase Municipal Grants Toronto, — The Ontario' Govern- ment is preparing this year for "a sowewhat increased grant" to the municipalities of the province, Hon. T. 13, illcQuesten, Ontario minister of highways, told the 41st annual con- vention of the Ontario -Good Roards Association here, "This grant is to be made because we realize that some old municipal roads cannot go longer without repairs," he said. Ottawa Unlikely To Act On Beer Protests Ottawa, -- A Government official said Sunhy that shortage of beer in taverns and brewers' retail stores across Canada had started a large volume of protests against the restric- tions responsible for the scarcity, and he added that these protests doubtless were being given careful consideration by the Cabinet. So far, no announcement has come from the 'Cabinet as to any decision having been reached, but this spokes- man, in close touch with the situation, said indications were the restrictions would not be relaxed to any great ex- tent, if at all. Hope Dwindles For 69 Men Trapped In Coal Mine Bearcreek, Mont,, — Hope dwindled for the safety of 69 miners imprisoned in a shaft of the Smith coal mine. Five men were known dead. Twenty-nine hours after a blast ripped through the mine, fumes continued to pour out to hamper rescue crews. More than 50 rescue workers; overcome, were treat- ed at an emergency hospital at Red Lodge, five miles away. U. S. To Give More Aid To China • Washington,—T, V. Soong, Chinese foreign minister, is scheduled to con- fer with President Roosevelt shortly; presumably to arrange for the ship- Ment of more American planes to, China for an offensive against the, Japanese,--Chinese sources indicated. After a talk with Secretary of State Cordell Hull, Dr, Soong gave reporters to understand that several hundred American planes would enable China to begin a land offensive. While he did not estimate the number required, Chinese sources have said 500 planes are needed. Denies Men Quit Jobs Early To Get Beer Sarnia, — J. W. Gemmel], admin- istration manager of the Polymer Corporation, denies that some 400 men engaged in construction, at the plant quit work early on Thursday to come uptown to drink beer. The story appeared in connection with a reported serious disruption of work on' the big' construction job. Mr. Gemmel] contended that there was no justification for the report and maintained that records of the men employed on the job entirely disprov- ed that any number of workmen had left the project as indicated in the story. Goering Adds To Art Collection New York, — The art collection of Germany's Marshall Goering, much of it purchased with worthless occupation marks and some of it garnered through outright theft since the Nazi conquest of the Low Countries and France, was reported to have been en- riched by the famous Belgian painting "The Adoration of the Lamb." The Belgian information centre said the Vichy -!Government had given the painting, which in May 1940, was sent to France to be safe from bombing and lo*Ing, to Goering as a present. Restoration Of ,liers To Civilian Life Will Be Great Problem Ottawa, — Restoration of fighting air crews to contented civilian life will constitute one of the greatest problems of post-war to-establishment, Air Minister Power said iii the House of Commons last week, Ile said experi- ments so far with men who returned horn tours of operational duty with the R.C.A,P, overseas had made him ques- tion the adequacy of present post-war Planning. Men brought back from duty in the air force tit Canada Were hoe scarcely she months before they were begging to be sent overseas again, The great majority of fighting crews, wore Melt who enlisted before they were 0, who had no odettpatients be- tore twitting, and had not ended their ,edtication Wort going di. to "tilt most hazardous occupation ^in the. world." HIGH. RATIO OF LIQUIDITY STRESSED C, A. Fleming Reviews Some Of . History of the Grey and Bruce Trust and Savings Company at Annual Meeting C. A. Fleming, President of the Grey and Bruce Trust and Savings Com. pany at the annual meeting, in moving the adoption of the report briefly re- ferred to the early history of 'the com- pany and its policies since it was es- tablished in 1889. He also revealed that the company had been mindful of its patriotic duty to do all in its. power to raise money for the war ef- fort. He said that of the $2,550,000 raised in the sale of Victory Bonds in Owen Sound during 1942 that the Grey , & Bruce Trust & Savings Company and its customers bought $960,000, or 37%, Ever since the company was first established, Mr, Fleming continued, it had been the- policy of its directors to encourage thrift, The company has paid dividends on its shares every year since it inception and for emit $10 investment the original shareholders have received over $300 in dividends and they still have their stock. The market value of the Company's shares in the last ten years has increased over .$160;000 on the 4;544,700 paid-up capital. This, be said, is a true in- dication of the public's c -mfidence, This company in a few months will have. completed fifty-four years of serviee. To encourage thrift thas been A policy of the company 01=gh its sayings and its monthly investment plan and Accumulative _Guaranteed Investment Certificates. We are now serving over 6,000 customers in this Department alone and the number is increasing at the rate of about 67 a month, he said. High Ratio of Liquidity With regard. to the liquidity for depositors Mr. ;Fleming said that for each dollar on deposit the company has $1.69 yin quickly cashable bonds and investments, in comparison with 75c which - is the average liquidity of the trust companies in. Ontario. Continuing, Mr, Fleming called the attention- of the shareholders to the enlargement of the office premises and the improved facilities for customers I.00% SECURITY BE- HIND INVESTMENTS. W. S. Middlebro, K,C,, Deals With . Guaranteed Investments Issued By Grey and Bruce Trust and Saving Company At Annual Meeting Mr. W. S. ,Middlebro, N.C., chair- man of the Board of Directors, of the Grey and Bruce Trust and Savings Company, in seconding the adoption of the report paid tribute to the serv- ices rendered by Mr. C. A. Fleming as President of the Company, in .his remarks, Mr. Middlebro dis- cussed tile high taxes placed on the company at the present time and showed where a large proportion of the Company's earnings are required to pay these taxes, but lie stressed the point that all realize the necessity of this taxation in order to finance the war. Continuing he emphasized the secur- ity behind the guaranteed investments issued by the Company, He said that for each $1,000 placed on deposit or in Guaranteed Investment $4900 is ;nvested by the company in trustee in. vestments such as first mortgage-4, ,,,overinnent bonds, etc., which art held in trust by the company for the in, vestor and in addition the ,company guarantees payment of the interest nod repayment of the principal on • due date. Ne read sections from the Loan and Trust Companies Act referring tq the regulations under which the trust companies are governed in this re- spect. Mr, Middlebro' referred to the fact that tile government authorized. executors to place funds in these c!.rr, tificates of the company,' relieving them of personal responsibility, be- cause the government knows that they are. a sound investment for trustees. Estates Department In referring to the Estates Depart- ment, Mr, Middlebro' stated that the company was authorized to act a$ executors and administrators of estates in 1926. This department of the company's business has shown a sub- stantial increase each year. He in• formed the shareholders of the facil- ities the Grey & Bruce Trust & ings Company has for the handling of estates efficiently, 18/••••••••=!••••••••••=•••••••••