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HomeMy WebLinkAboutExeter Advocate, 1911-12-14, Page 3iijIA ACCZAITIS TSE State Entry to Delhi Made Amidst ificent Surroundings p4 telt from e]hi, says V,, Xing of England and for of India,. awl the Queen ess made their State, entry in - he city on ThurEtla'« amidst e'd by Lancen's with bands Then carina General Peyton, herald; in silk and gold tabard ani Magoried with the Royal eaat-af. arms,sl ;teen British and ilea g MAKING SAFE INVESTMENTS' PRICES Of FARM PRODUCTS "NET QUICK ASSETS" A MOST fllPORT- AtiT FEATURE OF A BALANCE SHEET. What is Show» by a Critical Examination of an Industria! Company's Balance Sheet -What Constitute Quick Assets and Currant i.faiiilities—Care Needed in Ta'cing These into' Account -An Ezatntile, The artielea contributed by. "Inveetor- -ttre for the sole perpoee of guiding pros peetive 411 -esters awl, if posslbio say. Fag -them from losing' money _ ti�r',tz{i4 Fleeing it in 'wild -eat" autererises, The impartial and reliable character of the The informatlon may be relied epon writer of these pelletal and the IDubliea' er 9e tbie paper have no interests to serve eonnectioe with this natter other than those nt the Feeder. (Ia' Investor.). When, as we aaotec1: last week, An in- dustrial bond has behind it security in the form of land valuated et, the amount of the wortgafto, the bond Inas all tl4e Qoti points and laraetteally none or tkae ra'vbacks or a, ao wa real estate Mort+ age. Pew bonds° however. attain title foie rank so investments, and so it is zieaa ssary to :consider (Aber nointa b' being dile to pass upon the safety lea lar Q maaleritr of industrial is. ilificertt spectacular surround- tivv tritnlpef,ers mounted on Weed a and were cheered :by t,houseeds tires. The most°gorgequs part of the procession, which Wats $esP1, rail Miles leng, wa.s rraaclQ up of ruling I)rinees, ala d in shiremermg sill*aa, wearing priceless jewels and rriourit- d en horses €apprieoned with gold and silver trimmings. e The Emperor rode alone ore a mag,lrrfie ut charger' Beni. they Empress followed irt'ailned - ately behind in a State, e:arriage Yawn by eiir horses. Then Saaver- ; grin mere delighted with the wed- decd them,. chargers. Next followed the via - to the Vanlp was linea b. British and Indian' under the command of al Sir J. Willcociss. is E. G. Barrow. In of honor and e -ere also ,give the British, sr+ldiei Ther iilag Eralpairalr,Altd Queen - Empress 'rare received n the elaborately de'cearld platforlrl by the Vieerov and Vicereine, the Gov- ernors tnc heads of provinces, the commander-iax-chief, and aa, number' *l' high military and eivxl officials. Atter a series cif presentations, their Majesties proceeded to A pavi- lion within a, wall of the .fort, where 150 ruling chiefs were introduced. Then began the 'great procession to the camp four irileafi away. Through - mit Indict aa, } o :day had ben de elarecl, and hordes saf natives had gathered. They formed n striking, background to the gorgeously itni formed procession, which was head - , ell, titans to t tlr4a lt#4laaac4) sheet oof au R in bnniauy-r-yoia villi, et nowise°, tine escort Of the Vzetsroy, ldtecar"iot inspeut tlafc nary iuspcartant decuazrelAt and: gold, lireceding the. Imperial bsYoru flava 4lag. fou will see under tlzo PactC'orpscomposed entirely a hem f ssets usually In the followieg princes ,grid tlelx sons. �leilgeneral u•d�trfor "real etat Majesties and the Yieeroy's o snits a4nd patTdinSs.,, „ aol)i, ay, too-, Pat- sugoeede . .erne; furniture, etc.,' paterts, trade - As their Majesties alpproaehed waits* see+i will, fat<," a d4 y rba a, the command to present arms watt seam other similar aeggunt,,. You Passed along the line o '.roe s, nista notice that usually these accounts European S p OGta:toz^s took off their aro memo up anti, under liabilities in P leafs, and. the natives bent ,clelela to-` opposite � connate. fou will find i, the, c4aattoe for a pital stock, common 4waarcl,5. the ground. '�1d4�� r!�",,, "bonds," "mortgages," et Queen, and taw Viceroy bowed rights preyorRed,.,, bond , Alia left ire, acknowledgment. Filo first aro .tae fixed aseete, the iaa� he body gnaid of Indican princes� ; btlzties a 'ostially haven% as capital felleed immgdiaatoly ate) l 'all ties, 'A.eign' these get. nets and; bone in splendiar all that liaac taralaadly sepa tete naznauae4t up sr what. In strict order rix pro 'd-' tit a eiu vlfich lttb reahaarajaalas, rajahs,, Id other ehieftaaius. The I •"st+usl' t:losed by as band 454 cru hen4l entad in Natal king Afghan arid Pathan , bills ,reeeivadle," eta., .-„mtetl yin Wild ponies, and ncllnaent, of natives and British pps. Their Majesties and the Viceregal party then repaired to their camp, o£ which Cireuit House, built by Lord Curzon in 1403, is the, etre. 1'lae Emperor's tent dots not dif- greatly in appe�arauce from the .,,,oclras, Internally,, however, it is palatial. Great canvas balls ;.stand near -by fur of lei;nl receptions and About a, quarter of a million per- SC►11S have taken up their gwuters in the canvas city, `'Isicli is broken up by green .lawns, polo grounds> fountains and avenues of trees., REPORTS FROM THE LEADING. TRACE CENT ES OF AIIER/OA., st la ices of - Cattle, Crain, Ch,eese and Other Prelone€; at Ilolne al/a Abroad. 13i1E4DS`1`a,+ FF"$,, Teroonto, Dee, 12.•—F1ont Wft ter wheat, 94 Bier cent, pe,tents, $3.59, seater& Manitoba tdours: -First pateuts, ,$5,59; eeeozid patents, $5, and rtrO0 bakers.. $4.8% on track, Toronto, Manitoba reheare-No, 1 N'orthere, $1.- 071-2, Bay porta; No.. 2 Northern, $1.541-2,. at)tl No. 3, $1,001-2,; Say ;ports, Ontario wbe.at-1Q. 2 white, red and mixed nett/ Ur. high freights, Peas—eloocd, shipping peas, $140, side- Oats --Car lets of No, 2 Ontario, but side at 43. to 431-2e, a,nd of No, 3 at 42 to, 421-2e; on, tracts, Toronto, 46 to 40.tee; ]kaa, 2 Western Canada, oats, 461.2e, and Aeetl, 4414e. /Salt ports, aasley- px, 3 extra„ 65 to 57, Mikado, teedbarley, '7k1 to 73e- Corn—NO, 4 sanaerietas zeeIlene quoted at 69e, Toroa4taa fee;gl4t,, Eye eCaN Iota 1n faqir otter, a't, 91 to 62e, ttnUNN el alaeat e0 to fie, eat--Qlaoltoba ?gran, . alta freights. "Ii; OF MONTREAL. th Alinea:ll Meeting tlf, Aairellolder,,3. of Montreal has just, years of business in hieh in the history of a Illtry is no inconsiderable The 04th annual meeting 0n December 4th with t IL 13. Angus in the chair. ways the meeting was one nest memorable in the his tory of . the bank owing to the fact that t. e net profits for the year were he largest on record, and that 'the retirement of Sir Edward to- general manager wasC uston aser w g an .ounced. Another feature of mo :c than ordinary interest was th re -adjustment of the values of the bankp remises. For years all share in ferthering the develop - at of the 1,'ountr'y, and that it tt'awes. to grow with the coon. To call arid short loans, which bank keep in New fork and London, while returning only 'at, gets—otten called gulch mats tio,, read.; Beall rate se of interest, is fOnitcl {iJ ';Iy convertible lute ea -sill -4n excess of its be a wise provision. Tile cell ofcurrent liabilities, it noasiesses yorldng these loans slac in London &nit eapltal eclual to the difference between New ,+ark is far yr less disturbing tbo two usual called "net attialt as tea Canadian business than if they t which sear be quick° i} u5b, Oao. the eppwclte sk a or the bat dance sheet away be see;t "cuzxeart Ila tle8�" wlal0li eonaprise, tounta p;ayUde," inclndiu3 aasotter. pa oils, interest ur crucd but not due. fan owes authority nuts it, atcenath of every industrial eoncez to be learned from the figures eclat to its aurrrnt necounte, t'xoperty otss and capital liabilltle>a ran neat tho same significance, If the co ct of plant- anis equipment, as shorn by daoolts exccede, its real value, the Inas- hot tasua)ly „molten the pcceasary add justmont by putting a price, logu than rear an the company's bonds and stocks." Na such process 18 possible In the case of the current accounts." Soya the sumo, authority "If the current liabilities ex., coed the current, a8sots tho company shams a deficit,' whatever Its surplus may show on the books," On the other hand, should the company possess current as o4n1 1111110 i lay i10 1 Conic)? s t® z,f iffi fi a l2aaar 4o /I4 goods. dduf for of tfreree” p • k.a COUNTRY 14AQI WE Apples—Winter stoelt, $3 to arrel, Beards—Small lot $2.35 per kt4ash. aQrel:stractod.' in 4i/10, Combs. ',$,2.40 to > $2,75, led bay --NQ. 1 at $16 to $12, k, and No, 2 at $14 to $1449. Baled etrp,vc-2?,5Q tw to on ban 1' 4,60 e o•; in begd'. 21,,21 �. rpeN 41,42 zo $1.0 melee of ),tire, 2 tea x?e per lb,; x t I2e4 ', 11 to 1 Iatvfa laaar4ltr$, glans ger The United States the "-n co' 00. above. lb, cos' trdatlar ede��-: aiti and. basin at 27 to 20 sets." were en rail in Canada, Now these net quick assets ;are a, most Altogether the showing Trade by important feature of the balance sheet the Bank of Montreal is a very sat- ,,f an 'industrial company, for no mat- isfactory one, and reflects the high- tor -how great its qui0k assets. if they est credit inatin the directors and . aro exceeded by tho companq'1a current. upon the general manager, 'who is liabilities, the company is in daily dan now relinquishing' the position, Ser of 'being forced into liquidation. But which he has held for so many ono must be sure that what are taken years. His successor will be Mr. iii the balance sheet are really "quick" H. V. Meredith, who has been as- nssots. Visually, this is a, simple mater. sociated all his life with the bank Tako again, for example, the unfortu- whose affairs he will in future nate Amalgamated Asbestos Corporation, . d at '500 000 but direct. In its balance sheet, soon to be forth, °these were value $ , , B. there will no daub ba shown The address of President R a recent appraisal increase -d this to Angus was as Usual •a careful. Te ..inventories and refined asbestos on $4,000,000, The $3,400,000 thus se -some of the financial, cominercial' hand" to a very considerable spm; but cured was partly used in increase and industrial expansion of the the fact that the market for asbestos is ing the rest account, which nosy Dominions Tiie Bank of i4lontreal, highly congested .and, therefore, this as - stands at a sum actual to the paid with its . many branches scattered set could not be readily cbnverte4l into cash, renders it no longer "quick." This fact could be readily ascertained by a prospective 'purchaser of asbestos bonds, were anyone so hardy as to consider them at present, So, leaving this account out of the comparison of current assets and current ]iabili,ties, it will be seen, when the balance sheet comes to light, that there is an excess of liabilities over as- sets—so much so that the bond interest dace on December first has of necessity t n defaulted. been Space forbids further consideration of this important question this week. and other significant points of net quick as- sets will be taken up next week. 4. DAIRY EXPERTS. up capital, . while the balance was carried to the profit and loss ac- count. The total assets of the bank now stand at $230,000,000, making it one of the strongest financial institu- tion's on the continent. A more de- -tailed examination of the report shows that the net profits for the year amounted to $9,276,518, as compared with $1,197,992 for the previous \10.9 year.The balance of profit and loss carried forward for the present year was $1,855,185, or practically double the figures for 1910, which, amounted to .<$961,789. Premiums on new bank stock issued by the bank during the ,year amounted to:$365,677, while the re- adjustment of the bank premises account brought in an additional $3,400,000• Thus a total of slightly diver $7,000,000 was made ,available distribution this year, +of which for Y $1,440,000 was expended in divi- dends, $^,000a 000 credited to the � rest account and $708,000 to new premises account, leaving a balance of $1to be,carried`forward as balance of profit and, loss. A further examination of the report shows that the bank has deposits p 000 while its deposits not bearing bearing interest of nearly $136,000 interest amount• to over, $46,000,- 000..: The amount of call and short loans in Great Britain and the United States consists of over' $42,- 600;000, 'while',the. current loans d el and•.se- . throughout the country and its in- timate relationship with every phase of our national life, is able to present authoritative reports re- garding the country's growth and development. Without exception, this year's report by the president was full of optimism. That -this was not unfounded is shown by the bank's record for -1.911, which was the most successful in the94,years of its , history. YtOT . _ 'SERIOUS' SITU A.TId3N. ,r Montreal is Hedged in With. SinalI- 901• Cases. A' despatch from Montreal says Dr. Pelletier of the Provincial Board of Health states' that. the smallpox situation in the Province is serious.' in the extreme,:in. some districts amounting to an epidemic, Ile declares that Montreal is :liter - all 'hedged in with smallpox-strick- enY municipalities, and he is actively waging '0 vaccination cannpaign. In " lose to one small town c Montreal, he says, there are' thirty-nine' cases in quarantine. The spread of the disease, he' says, can be accounted fordothe fact that it often appears Y first in a very mild form, and is either unnoticed or diagnosed as chickenpox. There is also a great deal -of opposition in some of the outlying communities to vaccina- li ve ander very tion and the pecplc, ` a an '' conditions• once Y fl0 2o, and h this is tht lei ta;l Ina ration se goverzaift rte, The use of t el°fine, which is peastal ]native, 'viii datitpxr fear 'thea psroeee The Fede earl probe silts gr►itilrg ages which are alfiget lar tliex l+4':ationiaal Erectors' As4oaAaal- iational Menefeetm" ion to have been the Government s to o.. isle aye the l3ltrI15 rtia tr be .a cllxealie.legie roil one side of tl. ether, leering bi tiplersieiris, While oloar, 1112 to 12e per 1L case fats, 1;'ork, short eut, $214 ; do ss, $19:50 to $20. Trains—Medium 81st. 16 to 161.2x; heavy,: 14 to 141,20 611x, 103, 4 to lis; ,brealtfast 'bacon, I6 t re; backs. 19 to 29e, Iaaxal Tlerccs, 113.40: tubs, 125; Iita,il clew 500 .i place !)scar Lanier, .sracaryiatl` r►r+ey-general. indietmeut of tt do Xe labor `leaders. y Head of *ug COW zinft. ds 0. lww, t21'2e, nail s sl, Oats TNo. 2 st Montreal, Iles. 12.3lutela toffee, $6 ttr S6a1Q: tdo„ :mediu)n. do„ eoaaatnou. 32.76 to $3.50; ramie 32 to $3.23; ehotee cows » $5.25 to- 35,50* butc}texs" rattle, tribune, $4 kung, 3;75 to '. 8; mili.era, $76; do." common and tnedlu to $60; springers, $30 to q4 awes, $3.75 to $4; bzi'lts: and: a $3,20; lambs, 45.75 to $6; bogs, T.o.li,., 56.- 5Q tea $6.75. Calves, $3 to $12.69. T'orouto, Dec, 12.--1 few hand-rieliel steers sold around 85,30 and $6. but the Seueral run of°bather eattlo were a slow Rale at around 55 to $5.40, Cows •and bulls were also »noted 15 to 35c lower. Sheep, lambs and bogs 'were unchanged. BUSINESS A'.2 4ONTREAL. Montreal. Dee. 12.�Onta--Caznadinu Western, 4o. 2, 48 to 481-2e; do,, No. 3, 46 to 461.2e; extra, Zee. 1, feed, 461-2 'to 47o; No, 2 local white, 470; No.3 do„ 460; NO, 4 do., 45o. Barley - fanitOha food, 64c; Malting, 26e to $1.00. I3ueltwheat—No. 2, , 65 to 66e. Flour.- 3ianitoba .Spring wheat rat,e0ts, ,firsts, $5.60; seeauds, 55,10; strong bakers', $4.90; Winter lsntent% choice, $4,75 tb 55; straight rollers, $4.- 2.5 to $4.40; do., bags, $1.95 to 52.05. Rolled' oats—Ihirrele, 55,25; bags, 90 lbs., 22.50. Breit ---S23. Shorts -525. Middlings—$17 tb $28. Mouillie—Sys to $34. Iiay No. 2, per ton, car lets; 514.50 to $15. Cheese— Finest Western, 141-8 to 143.4; Eaatorns, 13 7 to 141-4. Butter—Choicest cream- ery, 301 to 31e seconds, 29 to 30c. Eggs; --Emelt, 60e; selected), 28 to 290; No. 1 stock, 241-2 to 250. Potatoes -Per bag, ear lots, 51.25 to $1.27.1.2- UNITED STATES MARKETS. Minneapolis, Dee. 12. .Wheat—December, 997-8c to $1.00; May, 51:041.2 to $1.04 6.8; No. 1 hard, $1.017.8; No. 1 Northern, $1.- 013-8; to arrive, 51,005-8 to $1.01; No. 2 Northern, 99'to 99 3-8e; to arrive, 98 5.8 to 99c; No. 3 wheat, 94 to 963-8c.' No. 3 yel- low corn, 60e. No. 3 white oats, 45 to Resolutions Adopted Dealing With Conduct of Cheese Factories. A despatch from Ottawa says-: The convention of dairy experts re- commended the grading and qua- lity payment system for all cream e Y reameries the pasteur- isation c , p... isation of wheyin all whey tanks at cheese factories.; the pasteuriz- ation of all dairy products to im- prove the keeping qualities, and P the use of balances or scales for weighing in the Babcock tests in- . stead of reading the 'glasses, as is in common practice. Another ;re- solution' was drafted recommend - in payment of cheese factory pa The QuIdest Cough Cur Chea But cul $c3 FILL 11'1ROM 11.SF1 .�1i'1`f'i't"f3f;: ,English Aviator land Passenger Billed in Yorkshire. A ;.despatch from ;London says, Hubert Oxley, the aviator and a Mr. Weis, who was a passenger, were both killed at Filey - an York shire? on Wednesday. They were flying at a considerable height when. the machine became unmanageable and fell to the ground. Death was instantaneous: RUSSIAN MINT "WRECK. Two Billed and Forty Injured by Explosion of Gas. A. despatch' from 'st. Petersburg says The Imperial mint was wreck- ed reck- e t on Wednesday; two employes were' killed and 40 injured by an explosion of gas in the gold -testing department. i• of R for 50c Saves You Sixteen Ounces 2. Does the Work Quickly or $ Money Refunded. For quick, positive results the 16 ounces of cough syrup that you make with a 50 cent bottle of Pinex, cannot be equaled. It takes hold instantly and will usually stop the most obstinate deep-seated cough inside of 24 hours. Even croup and whooping cough yield a it quickly.„ The user of Pinel miles it with home- made sugar syrup. This gives you 10 ounces -a family supply -of better cough! remedy' than you could buy ready mixed for 52.50. Easily prepared, in five min- utes—full directions in package. l inflame Pinex soothes and heals the membranes with remarkable rapidity: It stimulates tde',appetite, is slightly lax- ative good—children like_ it. and tastesg Excellent for hoarseness;- asthma, bron- chitis and other throat troubles, and has. a wonderful record in: cases of 'incipient lung trouble. and highly ooncen- Pinex is a special g prated compound of Norway 'hi`e lino extract, rich'in, guaiacol and other nat - gyral healing pine elements. ,Simply m :0+ith sugar syrup or strained honey, In a, `l6-oz.bottle, and it is ready for use. used in more homes ,in the U. S. and Canada ;than any other ;cough remedy. t d bat I Pinex has' often been, . imitu e , f` 't -' never, st�ecessfully, for nothing el will woe tho same results. The genuine is 1 t t but d frons n -fre fat enc cttsein, :es �u satisfaction' y gh °.� .guaranteed to give absolute a some ev de ce was brought _, refunded. 'Certificate cf guar :.br money . O 5e• an, or Canada zme. Your discounts in Can g i.oi :the rJlt,ai it ]r ]it,c;Ctlnl 17 - -, armee is wrapped xn each pack, Oyer. 121;0(70,-• d2 a has IPine, or. will gladly get. iti where amount to st e ,.)i_ ire 1 , ctr,i.7gtst •. .method of tee_„1)c r o (Tty ,,neo., T ere 'vas mlut ep ou] fu , at 'foe ori., It not,; send to Ph, , ,.,:rl10wS'a11, i'diar Se....-:: o air p ..r,,.:, ',e :., ea, �_.,. f.r :i: OOO..:The,laticr_ ., r + .,- ,, d..�: . � � 9 ;, rm- Itit_on waU 1E'1,...n ,+�oronto bat; 00 000'' whiclr':ndicats 13rockvr,lle hair and several.fa ^•�,, rn ;�- that the. band: continues toe do its erg took their loads home again. catsinu .n+ future el bel l`a fr lent 'l'lrc east altovi 111 ftarnpa, 1 is in theca eo The stamp does not ealr„y any mail—that is, it does not pay pos- tage—hut if you itice it on your letter -with the x regular stamp it loci message • ood conveys th6 isle,... ge of yourg will and assistance. Buy these stamps and help. They are one omit •eaoh. Write for thorn to Secretary Treasurer Muskoka, Free Hospital, 341 King St. IV., Toronto. ltfat 0. klized last year— for entre for forty. t, is hulled to large - mount for this life- the design of the ugh the original k rdc 0r A l.'S:,.IL.L3.- S ..4.BAD Q.I Al TBBS' Splendid Site Acquired in the Strand, London. A despatch from: London says: Australia has aequired the freehold of a magnificent site in the Strand. and intends to erect thereon at - the cost of $1,820,000 n great building which will include an exhibition hall and the headquarters of the High Commissioner and of all the Australian States. New Zealand has been told by Australia that she will be welcome` if she cares to come under the same roof. Meanwhile, The Morning Post is urging the ime portance of grouping the London offices of all the overseas dominions in one building, thereby making an Imperial centre in the Empire's capital. �III�N ISllRilCE. Third Readin. Carried in the Commons ba 324 Votes to 21, J .A despatch, from London says a, e' national insur- 1'4'1x::, Lloyd.' George's s ante bill passed its third reading in the: House of Commons en Wed. igo 324 to »cede night by a' vote 3f 3 Y e 21. In return for a'contribution of four -pence per week the insurance bill provides: that the worker shall receive ninepence worth of bene- fits. These bene{its are male pos- sible by a contribution in aid from the employers and the' State, of eighty-five .million `dollars annual- ly. The benefits incliide free me- dical .it;endance two and a half crc ,. doT1ar.1 a, week allowance for tem- era:a'�” 'iCknCSS, a, weekly navmment 1 ii o£'�a <,vllar�-�ar,nd • c e' .. �, v,n .'..,`}1' in S:auC. Of come' health, free treatment for co sump tiveS in a sanitarium, a`Sum 0f 'sev- dollars ;towards the workman's en s) wife in case of maternity, and aid for families deprived- througli':the n c• means s il�lnes.. ofthe breads ini'ner of i of support. Provision is also made Tip _ for unemployed benefit in precari �. us L1eLUCs. ,After all these bene- fits' are paid out tlierec' will still be available out of the jointly contri- butedmillion bi,ted funds a sum' or ten dollars which will be allocated to approved societies for such: up lbenefits the members further as determine . 1 he sal_ thereof shall expenses o State;_ offici- als ..,� rel s f arias T ' n the' Treasury, i, : � borne by, als „_ �_Y istc pad 1,.,<; fund will be"a_a+rini._t�red „ 1 '�:;:�r'kn1e71 't11c'cCi SC..l ..s - ltd