The Wingham Advance-Times, 1947-12-18, Page 7A PERSON YOU'LL BE GLAD TO SEE
Henry Smith and his wife have been often privileged to help bring about
able to retire to a little cottage in the such results. Because of their thor-
country. Tom Storey, a laboring ough training and experience, these
man all his life, is putting his son representatives are well equipped to
through college. Mrs. Little and prepare an insurance pro4ram to suit
the youngsters have been able to your individual needs.
keep up their home since John
died.
Canada Life representativei are
THE mar
0 TEARS HP
mse% AciA, uN A R.AN DG EA LIFE
COLIN C. O'NEIL, C.L.U., Manager
are sound counselors, trust
friends. They are the kind of people
you'll be very glad to meet.
COMPANY'
FRANK C. HOPPER
A full line of GIFT WRAPPINGS
•gtzwavotaexic-vatatzvamstelsvaxtemamiciematstaetsetstemakvalawmta
dr
9
A New DINNER SET
is a Gift for the whole family — 53-piece set
$33.60
WINDSOR MAROON • service for 8, $79.50
SAGUENY GOLD • 94 pieces, $85.60
All English Dinnerware —
Large Variety of LAMPS
DANISH POTTERY
ITALIAN TEA SETS
MEXICAN POTTERY
Silverware and Flatware
e CUT
Czechoslovakian
Large Assortment of MIRRORS
New shipment of FLOWERS
WHATNOT SHELVES
The Wallpaper Shop
141 14'Sti*tiS4**Stlt*WS)ttiSgirliSktitWs 04:1414)***WAMOMPitS12046161
THE
DOMINION BANK
Condensed Statement as at 31st October, 1947
ASSETS
Cash on Hand and in Banks, including Bank of Canada....$ 64,331,826
Deposit with Minister of Finance . 40,394
Government and Other Securities 138,803,838
Call Loans 8,445,633'
Total Quick Assets $211,621,691
Commercial Loans and Discounts 131,352,952
Bank Premises 5,342,528
Liabilities of Customers under Letters of Credit, Acceptances
'. and Sundry Qther Assets 12,207,499
$360,524,670
LIABILITIES
Deposits . ' $323,277,655
Deposits by other Banks 6,814,545
Notes in Circulation 677,444
Letters of Credit, Acceptances and Sundry Other Liabilities.. 12,122,613
Total Liabilities to the Public $342,892,257
Capital Paid Up
Reserve Fund
Undivided Profits
$ 7,000,000
10,000,000
632,413$ 17,632,413
' $360,524,670
PROFIT A''':1) L CCOUNT
'Profits for the year ended 31st Oct( ber, 1947, after making appropria-
tions to Contingency Reserves, out of wilich full provision for bad
and doubtful debts has been made $2,441,201.02
Provision for depreciation of Bank Premises 214,766.12
$2,226,434.90
Provision for Dominion and Provincial Taxes 1,254,756.79
$ 971,678.11
Dividends at the rate of ten per cent per annum 700,000.00
Amount Carried Forward $ 271,678.11
Balance of Profit and Loss Account, 31st October, 1946 1,360,735.08
$1,632,413.19
Transferred to Reserve Fund 1,000,000,00
Balance of Profit and Loss Account, 31st October, 1947 $ 632,413.19
C. H. CARLISLE, President ROBERT RAE4 General Manager
6.17APPO ace*
WHEN THE LIGHT TURNS GREEN!
In an ordinary car, you...
SHIFT INTO LOW
RELEASE CLUTCH STEP ON THE OAS
4
SHIFT ono SECOND 'RELEASE CLUTCH
11
Ow INTO HIGH
12
DEPRESS CLUTCH
14
6
DEPRESS CLUTCH
9
RELEASE THE GAS
RELEASE ciinct#
13
In an Oldsmobile with Hydra-Matic Drive • *
1. STEP ON THE OAS
has been prated by nearly 400,000 OlcIsTriohile owners—and there's
still nothing else ike it today., .The lowest-prieed ear to offer GM
Hydra-Matte Drive* is the smart new Oldsmobile-the car that
started people saying, "It's SMART to Own an Olds!"
The demand for Oldsmobile with the new GM Hydra-Matic
Drive* is so widespread that it still greatly exceeds the supply.
Make sure your present car carries you conveniently and safely
through the waiting period by having it serviced regularly by
your Oldsmobile dealer.
'VVINGHAM MOTORS Telephone 139 Wingham
Fourteen driving motions reduced to only one! No` gear shifting
to bother with. No clutch pedal in the ear at all! Just step on the all you do is
gas and . . . you're off! , , . far more quickly, far snore smoothly
than ifiron shifted gears by Land. That's the modern way to drive , , ,
—the yarn-matte way--the Oldsmobile 'way,
Hydra,Matie Drive was introduted by Oldsmobile 8 years ago—and ..... ,
DEPRESS CLUTCH
Thursday, December 18, 1947 THE WINGHANI ADVANCE-TIMES PAGE SVEN
collectiveldevelopment," Subsidies did
not ,decrease costs, because the (,ov-
ernment gassed the charge on to the
people. "You pay the subsidy," h4
said. fi
Dean n a in detail with the CCF's pro
posal to Rationalize the banks, Mr, Car-
lisle denied the need, and pointed out
that the Chartered Banks were giving
adequate domestic and foreign service,
providing stable rates and freedom of
choice among ten banks, and were free
from political control. "What has soc-
ialization, untried as it is, to offer that
one would choose to change from our
present banking system?"
The Ontario CCF's program for its
"first term' would coat a lot of money,
said Mr. Carlisle, and no estimate or
plan had been advanced as to how the
money was to be provided. "This is
really your job,' Mr, Taxpayer," he
said, "and it is• quite a bill for you to
pay." And it would, he said, lead many
now self-supporting to choose to be-
come wards of the State,
"Regimentation," said Mr, Carlisle,
"is not essential or desirable, the proof
being that the development of Canada,
whose growth and worth are recogniz-
ed among the leading nations of the
world, was made under a system the
very antithesis of regimentation, Our
Government must continue to operate
in accordance with democratic princi-
ples and not that of socialization and
the regimentation of its people. Free-
dom is the greatest wealth one can pos-
sess. We in Canada .do sot fully ap-
preciate it as we have not been depriv-
ed of it. Many nations that once were
free are free today. There are certain
groups in free countries who, with no
disloyal intentions, believe in a state
socialism, which is a state dictatorship,
chieved by political means. The social-
ization which they advocate, whereever
tried, has failed. It is contrary to the
concept of free government!"
The lust for power which has brought
on two world wars was again threaten-
ing the world, said Mr. Carlisle, and
today Russia was the principal factor
in an attempt at world domination. Our
military weakness had made war pos-
sible before, and today it was making
another war possible, "We and the
countries associated with us have not
made adequate protection for ourselves
in building a dominant military organ-
izatios," he said. "If we were strong
there would be no war arising out of
present conditions, Devastated coun-
tries would be reconstructed, their lib-
erties restored and their people return-
ed to nomal conditions".
"Communism or any other kind of
'ism' cannot give you the freedom and
plenty you now enjoy," marned Mr.
Carlisle. "It is your privilege and duty
as an individual to protect your free-
dom."
Analyzing the annual financial state-
ment, Robert Rae, General Manager,
indicated from the figures the bank's
strong liquid position. Assets had in-
creased to a new high of $323,000,000,
quick assets of $211,621,000 were 63.94
per cent of liabilities, and cash assets of
$64,331,000 were 19.44 per cent. of lia-
bilities, With $1,000,000 transferred to
Reserve Fund from Profit and Loss,
making the Reserve Fund $10,000,000,
in relation to Paid-up Capital of
$7,000,000, profit and loss account stood
at $623,43.4. Securities held had de-
creased to $138,803,839 but most of
these were ni Dominion and Proviscial
Government Bonds. Current loans in-
creased about $38,000,000 to $127,584,-
597. After taxes of $1,254,757, profits
of $971,678 showed an increase over
last year of $110,909.
To test your Christmas spirit and
knowledge, the following questions arc
given, You should answer half of them
in order to pass, '
1. Who wrote "The Night Before
Christmas"?
E. What story contains the following:
a miserly old man?
8, Where is Christmas Island?
4, Who wrote "White Christmas"?
5. In what tawdry was mistletoe first
worn around the neck to prevent
sickness?
0. What does the Saxon word "had'
or "be in health" mean in connec-
tion with a Christmas custom? —
7, An old Christmas superstition
starts "A warm Christmas means
How does it end?
8. Who is Quettalcoatl?
9. What plant, a thorny one, tradi-
tionally blooms only at Christmas
time?
10. Until her death what song did
rime Schumattn-lieitik always sing
on Christmas Bye?
11. What is the literal meaning of
"Christmas"
12, Where are the remains of Good St.
Nicholas of Myra buried?
ANSWERS
1. Dr. Clement C. Moore,
2. Dicken's "A Christmas Carol."
3. In Indian ocean, southwest of lava.
4, Irving Berlin.
5. Sweden.
6. Wassail bowl.
7, A cold Easter.
8, The Aztec Indian god, half bird,
half snake, 'who took the place of
Santa Claus in Mexico in 1980,
9. Christmas cactus.
10. "Silent Night".
it Mass of Christ.
12, The remains were stolen in 1087 by
merchants and re-Interred at Bad,
The teacher was trying to make
Elsie understand subtraction and she
taidi "You have ten fingers, now sup-
posing there were three missing' What
would you have then?"
wNo music lessons," said tisle
promptly.
PRODUCE MORE;
CUT COSTS, TO
BOOST DOLLAR
C. H. Carlisle Warns Against Those
Seeking to Regiment Canada
Dominion Bank Annual Meeting
Addressing shareholders of The Do-
minion Bank at the annual meeting in
Toronto on December 10th, Mr. C. H.
Carlisle, president, dealt with the dc-
ipreciation of the Canadian dollar's pur.
chasing value, sounded a strong note
against threa*ned regimentation of the
Canadian economy and people, and call.
ed for more adequate military measures
in the face of disturbed world condi-
tions in which Russia was the principle
factor in an attempt at world domina-
tion.
"Why has the purchasing value of
your dollar decreased?" he asked, not-
ing the rising costs of commodities and
services and the drop of 45 per cent, in
the dollar's purchasing power since
1935-39. "Largely through the high
cost of living, due principally to insuf-
ficient volume of production and higher
costs of production. Another cause is
the appalling and unnecessary loss due
to strikes."
"The demand which has existed for
many years, and is now enforced, for
higher pay and less production is illog-
ical, uneconomical," said Mr. Carlisle,
warning also against the same tendency
lately prevalent in the matter of exec-
utive salaries.
He noted with approval that labour
organizations were purging themselves
of "a radical, disturbing and destruc-
tive element," and believed that labour
could and would be a powerful in-
fluence in increasing production, reduc-
ing costs and so aiding in the exten-
sion of domestic and foreign markets.
"Such co-operation would," he said, "be
CHRISTMAS QUIZ