HomeMy WebLinkAboutExeter Advocate, 1911-8-17, Page 2MAKING SAFE !RESTERS
/MAT ('ON SI`I•d,l,jrAES TUE DIF-
FERENCE
IF-
lil`ERENC1 BETWEEN BONDS
i)S
A 1)41OC'18.
:Various Se.e tribes in, Whit+ We
1ni est- Bonds and Shares Pro -
duet of Rotleta Times— ;:,",Ialain
g Piiir1"nee e Between Bonds
ozad Debentures )luta: Bond In-
terest is laid.
a.,`r (•:`: unto .s .. i E to 1 wlt.h the
4:112 ctf Aldi ]"14 rag relia:b e in-
krn, ,t a.°ll f .t: the tts and pretec-
'chitty-^-iii � ai1t.1:'all matters --of the
rczzders l.,f.. tfl38 I:;;ir+e r, its '.fir'. aa rt aa_
and r iab:e tour..: r may he de -
j 'Fded p (aa, he writer r t f tires(
=Fa7 t e. ,fisc±
the s,' ak .. 2 her cf E n,
gser GAca.;e i x ,5: T l( 6ct4 tEa
terve i ,: 4.'n 1.4'L w,4". r. with this mat-
ter. ac -
ter.
Excel : A3- lkStrt:.;?SES Cf real E
't•a l,e and _
"lige 13 t ita+ties, wca51 alay4akaia)t't?
731t, a(aase'.'- ttC� i,t liliat
i x ll;` 1;1111;1 it ai �[P 4a3'at
t'�''i iLeS n ,.111t1* foe
'-.31st?'- n.
a
h,, rtae(rt`, t
trier
�litFlC
411 wtiaatr Volt
ti`o with the shareholder, except that
in the case of many of our large.
joint stoek companies there is a re-
gular market for these shares,
which are bought and sold daily
at a Price determined largely by
he amount of shares` to be sold.,
and t.lie number 1 f fuyers and their
eagerness to buy.
The chief point to be remeiobercd
is that; shares of stock are not at
ail like bonds, for, as we pointed
out above, bonds are "pi nines to
pay," and mat be .repaid at a
fixed dare, while shares inyo?re 110
s oda
promise,
There is one o her feature. too,
! in aa'isa bonds ai id stocks diger.
Most "'oink carry a I'xed interest
payable at regular elates- Stocks
do not. s.suy any 1etei .' t, Their
teturn n con '-'stS in a division of pro-
tits after all obligations cf inter-
est cools <,f .operation, etc•, area
pr, ded. They may carry not
"'do. +'/e >_.d, as the T ,ii meat 4s'
Lail ed t^l tht.y may carry a large
cot t d gat it. mere:3,- represents a 4i-
Ni--ion
.-
Au`+ C ' of sur/,,has profit„ Bond in-
terest, to flak.' L"ootra2;t'y, is a bled
ell, age„ and must he paid, or the
ew tgage 4w the eom,I}girl may he
ta4d„
VESTO i.;a
•!brie
iiai'E' illti"eZ# tI a`trtl • nititic*1. �cli'1i0`^' 4 t}V1iP MERRY �t� ENGLAND
t
f i'ise o
e11, xlt ill'tf? Elf a'a tl a^
4tiaaal ha ul% '''i.'cks, y+,19.t have no
thing t4;„ $how. V(,^11T a1llaze brio
amber of Fatal r( t l'+$eai£ 111 ,ne
sty k ledger" be:iii
(:tac't' of your interest.
Two centuries ago, if a
Lam Mackenzie had tionee&
(=f buildinlg a great
lilts she
Canadian North
NFt+fli(l laat'e fatted it impossible tut
+Pa##•&' rat fiR4 the t)loliey, There
er tut t;ztlt time feac, it any, for- I
inilcaou (dollars'�4U
iwlliell t(te r7•,t(I
has c<,.ti, Ne ca>ae ri
1a,•t+i tf.i u i.•t i t9le Adeaa cif (d `.:d- Eli
na191tS the All- 1:eltsat
aaa y de it; There are .elf
gage; isles miff a ri+
e eat: eta c.Q err
Parka- . The I igiit.n !'fryer Book i,* Kant -
ed In no fewer than leo :foreign
Then,. tuft., if ;1 lltig. r wi,-1m1 to languages.
ges+.
build a. e,iitr allill reeltlariltg as latt'e4e.' Lancashire Is file 11tri t-p'pub.us
gameEilllt ear a', he would hare British county,
had either to have flint. up the' \ ikshire tlair d.,
1t:Uiliic;• himself or taken in some I Ip ISt,.i, 145 distilleries were
partners. Te ec}ttdd tun, haunt* tali.2ia work in the United Kingdom,
n 111; ny.
for it xt°tPlylcd_bawe. heel) hint! -10 the number was 750.
'r eumbellorne order t,hra' +old During the day on which the t'ral.
haws. Moreover, the den. ,iti cur I'te ('Cm-lt'i waas taken 12,305 eiclists
dnilttstick companies had Btt been entered the (:itr .,,f Lon(1(an,
14_'tt-a-cdays, however. it is (Vile left to 1,.iverpi'ol charities by the
(lifferent. Lawyers have learned late Mr.. Thomas :1)a ies of Bootle.
iliaat mart .sgages can he subdivided ° , .n . i The crewc f the rattttr launch
into equal parts eat;h part as se- Mauretania at Aberystwyth captur-
ture as the whole, and involtiing ;e(1 as huge, .oafish weighing three
ttio very great expense. In 'ins cwt.
"al-1nel" ;t rzailrtAad can mortgage The, total number of old age pen-
it.ta 1°Proptrrty, just as an cer(Iinary shiners in the United !kingdom at
individual can. But the railroad, the end of March was :_men,
:ia.xad cat one mortgage, can is- coo; women, 347,'111,
sue for its hnge indebtedness a Lord Robert Cecil is convinced
large number of small mortgages, that the English woman is not only
Tanning; from $100 up to $5.0u0 (or, the most beautiful but the best of
rl f:tet, any amount) in face value. all women in the world.
These small mortgages are called From the trainingship Exmouth
ends. Most Lcaids contain on 1
3,:300 boys of the poorest class have
their face a ready of the niortgego passed iri.o the navy and •3,600 in-
oa which they form a part, and to the mercantile marine.
;are pers'enally Signed by the nee- In Great Britain the cousump
-essary officer. of the railroad. Mostlticiu of tea per head has reached.
bonds. too, have attached what are 6.38 pounds, almost equalling that
taailed, "coupons," which are small of Australia, which has so longheld
certificates of interest. which are r the first place
place.
eatt (aff and cashed—at a..y bank-1During thelast ten years the
ten the date when the interest is Royal Commission on Tuberculosis
time. Bs. -ads, of course, may he is-! has cost the taxpayers $379,100.
sued by all kinds of companies.' from the sale of its reports $7,075
Governments and municipalities, has been realized.
tt;o. Issue them. Greater London has more than
TThewword"Debentures," is in; doubled its population in the past
s
cases used in reference to; fiftyrs the figures in 1861 be-
g
bonds. = Strictly speaking, how -ling 3,320,720, while now they are
ever, a. debenture is a promissary 7,252,963.
note not secured by a mortgage. One huge oak tree on the i ester
They, like the bonds, are divided' estate of Lord Tweedale has sup
into small amounts, and are issued plied all the new panellieg of the
for money borrow -cd, just as a ran l drawing -room' used by the Queen at
gives his note to a bank when boa- l'Hcrlyrood Palace, Edinburgh.
rowing- I Mining subsidence at Olclhill,
Thus we see' that bonds are Staffordshire, has caused damage
merely mortgages, arra mortgages, r estimated at 530.000. Fifty houses
as eyeiy'une knows, are "promises have been so badly 5401 ed that
to play," secured by land or some they have been closed or condemn -
other valuable, marketable object. ed.
Debentures, too, are promises to Colchester Town Council has de -
pay, but often without any se- clined to prohibit Sunday- funerals,
cur•rty' whatever; other than that but has recorded its hope that the
involved in the financial standing public will not, cut of 'regard for
of the'issuing Company. Shares the femetary officials, choose Sun-
of stock, however, are quite dif- clay for interments.
ferenI. They involve no promise to going, to clear a pillar -box
oil. the part of the issuing company late:It night a 1antisich (Cheshire)
to repay the amount they sepre-' postman was surprised to find i2S
Sent. When you purchase shares live frogs and two dead ones among
in a company you become a part- the letters. He'removed them sue
cessfully, but the letters were badly
ner. In the old clays, when a man smeared. Three boys named Bob -
up all
a business, h, lie ha•d to put •eat Tomkinson, frank Sandlands,
Rob -
up all the capital himself, or gather and Arthur Townsend were• each
together a few partners to' help fined I Os, for placing; the animals
him eta. Now, however, a• coin- in the by
parry requiring e million dollars to
operate will issue ten thousand
:shares; each representing one ten-
th usancl,ib pail of the proprietor-
ship
0 1 1 1
ship of the company—that is, a $100
p
interest.rtest.
Th -.se roiprietor,s (which
the - lr tT actually y are can"
1 �tii<�ai7cl t.ae re:::aynient of tile..
notal. 2?.
ronev they L.�e p
lt'•ipte tae
,c
or}-
giny•.iay
more -than an,
;),itnc,i- <Can-. demand his. money:
a 1, froiii' his other partners in t
Ck C
npiness:'. '.;I-fe; c:l}s ;only' get, his
s h: Vis
:.hrire,in:
money •'a:xiit•,Ip „e}ling >3
fir WiI-
seed' the
roti„road
NEWS ET AfO! "i T01.1N
BULL AND 1118 I' ,O1,'LE..
ii. rt'cpee$ is l I,aziti Thai
et:tts Supreme in the Cont.
mereial World.
united Kingdom last year
r4*l la}tions- took pk 'e,
eeoiid largest open-ait• itatit
lalad Inas been taptane I nt
g to
,lb¢�liACil tib .. ,
o row ita tae\:
1 slitaIt,
it could
tilt unless the King as
rrltw lard 'slltdr11Om t it.
'1
own s SB tort British
ttlatic it (Pf ;a1z,(100 or
cl
it
ef, Ten thousand pounds has been
Subscription List Will Open on Monday, .Aug. 14, and Will Close on or Before 3 p.m. Monday, Aug. 21
CAWTHRA MULOCK & CO OWN AND OFFER AT
$1,250,000 of 6% First Mortgage Sinking Fund Thirty Year Gold Bonds of
INDIA'S COTTON IN PERIL.
e �d! ,F )l MayDestroy the
Ile Boll zy
Entire Crop. .
from,tEi n 1
rLore
rTa r .. r.
sayr4r•. .The •;Indian ce,ttlm.
C
1b
p^;.
is
greatly imperiled by 'tile ravages'of
the:btll'aefiaiand if the efforts
•- '
the pest- peact do not -prove
��. destroy
tu le- successful'
probable- that
t
the c,a . (5 i—s 1') someone else. Just there will not be a eros
READ
LIMITED
(Incorporated under the Laws of the Province of Ontario.)
The same to carry with them a bonus of 25 per cent. of Common Stock. _
DATED August 1st, 1971. DUE August 1st, 1941.
' ., _ interest February 1st and August 1st ' payable at any branch of the
d.azlc,ll.�al and semi-annual 1 )t w 3 �' �
ai
Union Bank of Canada or Metropolitan 1351;1x1.
Denominations $100, $500 and $1,000
Bonds issled in coupon form,
1jith privilege
rililee of registration of principal
TRUSTEE:
Guardian Trust Co., Limited, Toren
0.
CAPITAL ISSUED AND FULLY PAID UP
6% FIRST MORTGAGE THIRTY-YEAR SINETNG,PU O GOLD BONDS.. , .. , ..$1,250,000
7% NON -CUMULATIVE PREFERRED ED STOCK, ISSI.T1+1D AND FULLY PAW UP ,. 1,250,000
. . .. 1, 250, 000
COMMON KOCK, ISSUEyN FULLY PAID UP... r . i. 2A5ooO0O
BOARD OF DIRECTORS:
('A\'” 1 illiiJLO('K, Toronto, l'resiclent. y
Direvtot Imperial Bank of Canada,
Director Confederation Life Association,
:+JAilli. BRP111\, Toronto, \'ice -Pros, atrt3 Gen, M
President Bredin Bread Co,, Limited,
GEORGE NVF,STO\, Toronto, ..
\fo(lt1 I3 hiery.
T're' uderut (,e'.r1•ge - eston, Limited.
pager,
I-1. 0, TOMLIN, Toronto,
Toronto Bakery,
N. J BOYD, 'Winnipeg, Be-yd'sI aidler;T<
ALFRED JOHNSTON., Toronto, of W. I(, <7ubnst[In cC Co.,
Ltd., Wholesale Clothing,
I. IT, I ASCllUN(4ER-, Toronto, fieeretery; formerly As-
sistant Deputy ,l'es,trnastc•r-General of Canada.
BANKERS
Union Bank of Canada. - - - The Metropolitan Bank.
TRANSFER AGENTS AND REGISTRARS
Guardian Trust Co., Limited
AUDITORS
Price, Waterhouse & Co., Montreal and Toronto Oscar �udson & Co., Toronto.
HEAD OFFICE a Toronto. PLANTS AT I1,11oi 1ne 1, Toa, Winnipeg
PURPOSES OF COMPANY
(i inatTrt. Bread Company, Limited. has rtt:e1ulred as going Concerns the plants and businesses of the 23r•eslin Bread Company, Lim.
lied, of Toronto; Geo. Weston trt'in. Model Battery'), o !1sc Oto; II. C. "i'arn itti (Toronto 1581511 ). of Toronto; 841111rts, Limit-
ed, of :Montreal anti W..T.,11oyd, of Winnipeg. In the ease or 1305 d, the rcat piaierts Is ex(•ititted, but a(:parcel of vnc•rtnt. land in the
ur i P. about two nen's in extent, is :'nbstituted. The first three companina have been in 5111( sattion Tor almost thirty years,
antiltthe fact tura far (°los( to Sweatt.' a•cars. They have all grown from r beginnings l+`= i they are now among a >c_ 1 r their re-
g
t? ec•tire fields in. Canada. The combined output of the companieses apt presetnt :is, approximately, 000,000 loaves of bread per week. It
is intended,by cxtensiana to the pre`rent plants andthe erec'tiula or acquisition of -na,u' Phi VI, to ION ittt•,itit .lncrctse the output of. the
Company to one ntiitton loaves per week, With other ei.1ti*lons to follow in the oth(:r large eiticti at ra later date.
POSITION OF BONDS
For full particulars, reference' may he made to our prospectus, which is accompanied by a letter from. Mr, !Marl( Ilredin,
the \'iee-President and General Manager of the Company. We draw attention to the following points
I. The present $1,250,000 of G per cent. First Mortgage
Sinking Fund Thirty-year Gold Bonds are secured by Trust
Deeds to Guardian Trust Company, Limited, Toronto, consti-
tuting a first mortgage on all the property, real, personal, or
mixed. now' owned or hereafter acquired by the Company, as
more fully described in said Trust Deeds. In the Trust Deeds it
is specially stipulated that of the $1,000,000 cash being placed
in the treasury, the sum of $500,000 shall be held by the Trus-
tee, to be used only in the redemption of bonds or in investment
in additional plants and real 'estate, thus increasing the fixed
assets under the mortgage. -4. 'oinking Fund of 1 per cent is
operative from August 1st, 1011.
2. The assets of the companies already taken over stand in
excess of all liabilities and without any allowance for good -will,
trade marks, etc., at $841,421.75. There has also beer. placed in
the treasury $1.,,006,221.08 of cash, which, besides furnishing funds
rut the purchasing or construction ef'additional plants, will pro-
vide ample working capital.
3. The earnings "of the present plants, as per certificate: of,
Messrs. Price, Waterhouse & Co., after allowing for deprecia-
tion, amounted from April 30th, 1910, to April 30t.h,: 1911,` to
$1.07,011,14, to which may be added, $15,000„ being interest at
the rate of 3,/, per cent. on $1,000,000 ea.sh in the treasury
pending its employment on extensions. it is estimated that,
.Subscriptions should he made on, the
10 per cent, on par value on application, a
fillper cent, on par value on allotment.
981 per cent.
with the economies to he effected, the earnings on these, plants
will shortly amount. to $110,000 a Year, sr ne•rtrly two and one-
half times the frond interest:
4. With the extensions that it is proposed to effect forth
With, the Camp::nv, by the end of its first' fiscal year, should be
in a position to show earnings of 1210,000'a yeas, equal to three
and one-half tunes the intarnst requirements On the bondissue,
and with all the additional plants that will be provided with the
cash now in the treasury, the earnings should steadily gain to
over $530.000 a year, or more thanseven times the bond in-
terest requirements.
5. The Company, with its plants situated ` In the larger
Cities of the different provinces of Canada, will be In an ex
eeptiona.11', favorable position to benefit by the marked
economic:4 that will be possible In manufacturing and, more
especially, in distribution, and all the time will he turning out a
more uniform product tinder the ,most sanitary conditions.
0. The r,ractieal menwho have made the different Com-
panies ParticularlY
om-panies-particularly successful will be identified with the manage
n -tent and direction of the new C 01 ipany. Mr. Mark Bredin, who
18 probably one of the most successful breadmanufacturers in
Canada, will occupy the position of Vice -President and General
Manager, while the services of the heads of four of the different
companies taken over and of an efficient representative of the
fifth have been assured to Jhe Company.
SUBSCRIPTIONS
form accompanying the, prospectus. and are payable as toilet+:5:
rail I n Instalments a:; follows, in which case interest,' atthe rate of
df per sent. will lie:charged froltt, date of allotment:
—
10 per rent 011 par value on application.
�11y 1a% per cent. on par valuta on allotment.
.' 25 per cent. On par value .on 1st Sept., 1911.
.25 per cent, on par value on Ast; Oct.. 1911.
25 per tent. on par value on 1st Nov., 1911.
98V.; per cent.
Upon final payment by the subscriber for all the bonds allotted, the Guardian Trust Company, Limited, will deliver the bonds, to-
gether with fully paid-up shares of the Common Stock of the Company equivalent at par to 25 per cent. of the pa.r value of bonds
allotted.
Application will be made to list the bonds and common stock on the Toronto Stock Exchange.
Copy of the trust mortgage and legal opinion of A. M. Stewart, and certificates of Price, Waterhouse '& Co. and Canadian -
American Appraisal Co., are open to inspection. at the offrces'•of the Guardian. Trust Company, Limited, Toronto.
Prospectus and application forms may be obtained from and subscriptions should be forwarded to
QU RDlAN TRUST CO iPANY5 LAM D8. TO;.,ONTO
RFK OF CANADA and THE. METROPOLITAN BANK
Any Brandi t! 0liON
of 6i
---OR TO. ---
E91l81EMBERS TORONTO STOCK EXCHANGED
12 IKE` ,a. arG STREET E T
"DELIGHTFUL POISON."
How Wine happened to have 'l'Ihalt
Naate' Given It In Persia.
The
makingof wine is said to
.
�liave'origi4a'ted-'w�itL-tLc^�-g'ersians ,
whap, `�discua-ered.`theprocess quite
by accident. , One ..of their ,earliest.
,
said:. s.
it r •
kings -; Terisliee€l, �°w"ho . >.
was only five- Or:eiS';generations
from ° NToah, was the discoe-erer " or
S
' rsnlan�. of •' Lis. household
rtithi=,r�•�a woman S
s`
"
Il_ was immoderately fon
fl
TORONTO.
v^,.•fin,,, ..
grapes,''. says i,_.e narrative, which
is found, in Sir John Malcolm's,
"History of Persia," "and desired,
to preserve some, which werep lac-
edin a large -vessel and lodged in
a' Ta
ult,.,
1r,hen
vessel'was opened.' the grapes
;
bad
e
fermented-
,
;iq,{„their juice .in
this
itatP 4a ,�+p •aec„ttat. the King be
liei`el�n,., '
some i C
r Ifie .rad . rTge!�we.,.�c15 wivli
U( l a, c i Ic i i i i,
en i pen f,ticll...
l�laeeEl 'rnorl}It
Ii5l)?Tp entecl•` that'one” of flit; ,fallro rte -
ladies was affected with nervous
headache; the pain distracted her
so much that she desired death.
Observing the ye'.,el with 'Poison'
written on it she took it andswal
:lowed its ,cantefts.; • The, wine, for
sue-h•it had become uierp<,wereclthe
tally n -Is.- fold down:;ii110 't rsz
ou id
Sleep" and awoke nitich i (tt e `ed
7 s'bgitltd �- tli.,his';remed:ja, <he4
r
,,elpcated:the,dGses ^,o:elft,eYi•thAt then
ri t;rfarc,ln'it^:paiSon Was �atll' tlraraik..
e s f ,ori,;itlr3etiyeied..tlr4 .ind°'::Eorrerk-
the faily'to cenf,ae'rWhat tfie had'
clone, A quantity wine was rip:id:
and ,Tend eed and ofall lids a - Null
t:
drank of`the new, beverage, wliicl,
from the circumstance that led to
its discovery ; is to this day known.
i ;: v_:the, ,nam •, of Ze�aer•-o
nr l�'et•si:l .b, ....- � . at
khoosh, i°'`the deli'>litful j>u s-^7:
0
��.
we e
:.. ei'8 T.�ast1i13t61• -tli
:'bit thrs r;, (3r wmalar i i ,e i.,'a�nd;. 00 dean
'at � ids "-