HomeMy WebLinkAboutThe Goderich Signal-Star, 1951-01-18, Page 7Itionfollowx, iso, 1001
Annual "Meeting of Shareholclers
7
1
oluntary Curb.'on-Spn'ding tGeneral Maitage.i:'
MAIM Speed ltd.Reports 2 Ork:armament an4
Preserve our Free Economy
Deposit Accounts
-votiont.NwrolArNstO
cigbome Municipal' Conitea ,Met
tha,,,,,ToWnShip Rath VarleW, as'
Per statufe, the felloWing taking
the 'necessary declaratt4 O. oftice;
for rg:eye; E. Stanley SnYfieifnfet:
eo•uneillorS, 4Mts 'XiOnton,
Montgomery, l'erenceiunter,4joint
Kerni han — •
Council met at -2 p.m. Pursuant
to •adjontament for Muller in the
.town Goderich. ;
Reeve Snyder adttressed theCoun.
T. Atkinson, General Manager, voen kIne•ao/eclWiffeWreellarlisrue4swthoardtsw.
in reviewing the bank's 1950 Annual be brought before the Council at
coltro. a useful but no substitute fo_ r Report,. pled •th4t total asses a. different times, and asked for their
tecitattacli an intk* isionlmili.tarY .„ itoyal' .13exceeded $2,40.7,00%00, ank. of Canada coToperation.
now
The business f•the year.was then.
Phiiical.. •
. 9
Axpendititres must be .tut. • President Point in.the' field. of Canadian
tbe-iiighei_s(t commenced,,' by the reading of the
December minute% which were
• proposes tour pointvanti,inflation
banking. Deposits had also pact:ens- adopted as OW on motion of Jamea
"ed materially to reach' $2,337,503,- ,Hortoh and, Terence Hunter. .
46$, the highest, point in the his- The following communications
„ • preogiaiiiirte
.4-
.110W 'Me, spiral Can.
eandermine the. very,LbitsiS a free.
.0:Median elemeeracsi'and the posl-'
tive steps Wilk% shoStild• be, taken
.ncese to Meet this threat. vvere eta-
' Pluesized„ by. .Tames 1Vinir in his
' Presidential. address at the annual
. Meeting. of shareholders of The
Royal Bank or Canada, • -
The ISerean war, said Mr. Muir,
. sea.S the ',threat of war elsewherS,
had posed new inflationary problems'
an. ;economy already la -retied
„ the long, Struggle against infla-
tion since..the .01Ose, of World War
' U. "We no longer have. that ex,
oess capatity in capital. and men,
. power thalCuutde pOssiblemore guns
and more butter hi the early' years
sit the last struggle. ,
• • "Full empleyment of men and
resources is a Symptom of ec:Onomic
strength in peacetimesit meetts how-
ever that -any,. ae‘ditionall, ,ilemands
-• upon the economy:,, Can, be raet only
toy. demaed • elsewhere.
This means that the additional ,de-
mand upon- our eeonomy arising,
out of rearmament , must' be it
by eating back 01.1r. normal peace-
s•tinie demand fee eapital and con-
„seqmption f_gtteds. . •
. .,•
COST OF REARMAMENT 1
"Thig' curtailment ,of .1-16heetime,
demand° is' the cost of :Wartinie- re-
• armanieht. ; This „cost cannot be
'postponed: must be, met at one.
And the fundame.ntill problem of„
• war ..0.ionotnies Is ,to eusere that•.
; oely the least essential part 'of
ileacetime demand 4 nine curtailed.
"In this 'way we can reduce t e
' , .disloCation of -our econonly cause
.by new 'armament. expenditure: if
we can redu&?. 'this dislocation we
. tete inerease'theettectiveness of, our
war effort, and at the same time.
we •cati assure that the freedom
we eim. defeed will in fact be
,preserved. , • •
."Whalt part, of peacetime deniand
• can. most .economically. be''Sacrifieed
10 the heeds '`ef defence? .' • , •
"There are broadly' three areas
of demand, in which cut-backs might
conceivably be 'made.. ” They .,are
(1). the deinand; by sviisutin.erS,
for ,irtirtible .goods ;• (21
• densafid by business. for material's
needed. in 'Ithe espansion of plant
and equipment'; and (3') the dem.and,
by go.veriunent for non_military
• 'goods and services, .• • • .•
•s'Further inflation ,can be avoided -
if
, the money .valtee of increased
• armament is offset, by •thesreduced
demand by consupserssbasiness,and.
' goyermhent for nonsesilitary goods
and services.. ••
copritozs NOTENOU.GH
:Once. the 'netts ' 'volnulary
saving have been reached we are
forced to. rely' on • increased taxes.
alid on controls. Physical
-,eontrols may operate indirectly'.
;through'. credit_ curbs or direetlyn
'through gpverinuent allecation • of
scarceeinaterials • cembined vase
•-ibus degrees with. Price ventrol and
• ratiouitue. .
"These,physical controls- are not,
properly. • speaking, della ammo.. at
; ,all. From bitter experieneeg after
the last. war, we know 'that • physt:
cal, controls' .conlea* but do ; not
directly ‘reduce inflationary pies-
. sure, They., ;attack , the symptonis
and -leave .the disease itself tin,
checked. Their Droner use IS .to
disrert demand ,froin scarce te se-
lativelr loss scarce Rods and sets,.
nn :„ylees•s or, in sonid cases, to provide
v a stop -gap until fiseal 'and , mone-
tary policy can. reduce •inilgtionary
pressure through direct action.
Physical controls haye- their use,.
, especially in total war, but they
• are no stthstitute, nTar'.tievices' that
really atteek inflation. '• - •• •
• 'TO 'FIGHT INFLATION
.1 "The 'enggestions made in this
appraisal, of•wavs to. fight inflation
tory of the bank. a • Were received':
,TAXES
• 001J14)1.BE00111t
TWO-EDGEWSWORII
The)niosit peweer01. 'Weapetr 'in
the fight against Infia.tion is
genesally supposed to be. a stiff
increase in the •incOme tax. But
the -Lest of efficiency must- be
that any .inceme, tax increases
shall penalise spending and re-
-Ward. saving. •
• Such. a - criterion \\Tepid rule
out drastic increases ins corpor-
ate taxes, especially, exeeSs pro,
taxes, • tend' to enconrage
:,waste . in management; .add, in
addttion, excess profits taxes
are .arbitrary in their inspect.
and • inflatieaary ie.' their final
-effect. - n
,' The personal.' Ineorae it Is
-Itself a blunt instrument that
may 'hit' spenders, saversr
nevertheless •proie
to be the only weapon -with „spfs‘,
ficieut power to cheek Spendihg,
even -though in' the process some,
saying is hit asve11.
, To minimize these faults, and
ensuresfairuess, weuld Sng-
gest, that any increase in income.
[tax burdens. Should 'recognize:
(I) that.an effective:attack upon
• infiaitionary .S.pending can onlY
be made. by broadeeing the .tax
base throtig,bloWer peremial
emptions; ' (2) ,tithat equity de-
anaitdS the vigiorons reduction
of income tax erasien, neW• all
toe apparent outside ,the fixed
wage and salary group; (3) „tin*
• equity and efficiency,: elike . de- ,
mand•the exemption from income.
tax, Wherever possible; . of the
bona. fide saving. ef the•
•In its simplest foran, this. might
Theitrde the limited ' exemption
of insurance premium,s. and. of
net- purchases of savings bonds
over the year., .
fIM awaie that to implemenit
.the,•titird suggeStion May be work'
for a genius in political and
sociat,“inveetiort; .'Inft, 1fso, we
shOuld • be . looking nfor him.
Otherwise, as tax rates . rthe, the.
- blunt instrument of the ;Impute
tax may, become .a• dartgerbus and
perverse weapon. .that penalizes
saving even more. than it pena-
lizes; spending, • ' .• •
The • failure to exempt •Saving
;when income taxes are very high
Will not only reduce* their:, power"
to prevent. inflation in, the -Short
nue bre MaY in the long run,
prove tt poshtive claeger to demo-
critey itself. The eetremes of
"left", and "rbsrltt" in the. world
•todaY .are inediated.lir tbe greats
democracies by ti strores'middle
would be a ' tragedy.,
iegeed if dentocritay 'sboUld 'per- •
1st because. in the supposed
interest • of its esi'n defenee , it
this • guard:Fah. of
dentoeratie •
There had alse been a gratifying Froro, the Department of High-
.
increase, in the number of the vrays, re 1951 road; appropriatiou4,
bank's depositors, •the, aetuar num- Salvation Army, London, request.,
:her .0 tiosounts heing over 2,000,- ing, the 1951 'grant for social set*,
000, Vractically -1,900,000 of whir& vice work.
were in Canada. "Since jantuiry 'The agricuitur-ar representative,
I,' 1045i the number of accounts Mr. Bennett; and Mr. Elmer Robert,
on -our books 1n' Canada has in- son asking for . an increase' in.gratit
creased by abeut 000,000, Dr 40%," for the Huron- Crop .1mprovement
Said Mr. Atkinson, A.ssociation. This organization is
An increase ,of $926.895 in profits 'putting on a special project •through
Was noted by the General Manager. the live district high. schools in
Atter providing for the usual de- the county, ,This,will entail eXtra
-ditellons) including taxessof 44,012,- expense. Also the Association is
000, and dividends, there was a having, an eictra, prize -list. for feed
i-earry-forwaril. to profit and loss grains Judged by- mill men only..
'wool:int of •$3,059,725, bringing this Thla is the farmer's own feed grain
and will be judged for •quality,
account, to 40,920,039. Pram this
weight 'and.grindieg qualities. This
totul,$6,000,000 has been trans -
should interest all farmers. who do
ferred to the Reserve Pund, wthieh
now stool at $50,00,000. # , not „make a Practice of griming
seed. This sebd fair will be held
NEW BEANCIIES the Olinton Collegiate Institute
"During the13'7'eltr,"it'liew branch on March 9th and 10th. .
officets w,ere completed, in eddipon The Ontario GoOd Roads Associ-
to whiell rather extensive renoya- ation, asking for membership fee.
tons were made to .63- other offices. Min John requesting a tet-
,,tlement in copneetion with Shei1ttllnnal-
Work seas commenced on an
1,4' new braneth buildings
,and extensive,atteratibu projects
whiell • syork 'bad net been. com-
pleted by the year's'end.• have
Opened P.4 full-titue branches and
-Sib-branch. 'We are new operatt
pig _653 ibra nehes, and 737 Sub-
brancheS' in Gariada."
ef
tni ai4)4T
Eat o41,11bOrri,
rs. Ed,
Meottilt, ;11914
meeting a the VV.a.-S, ivils held tn.
the shurela echoblroom e „ Wedne4-
da Y afternoOn. •Te Meeting wal
led. -by yred. CO011 and openea
with a IlYalis and prayer by -.Mrs.
Fred •Dook.i.The Scriptutre lesson,
Matth'ew 10, was. read by Airs. Net',
man McDOWell. 4 reading was"
given bY,lgrO. Jtiel4 .131,1Chana'Tak.'
lug Accoupt,"and the study book,
"'Through, Partnership Work in
Japan.", was taken by Mrs, IloWard•
Campbell. Mrs. Fred Cool; read
two letters from people in. Greece'
whohad received article's f.reila it
parcel sent ,frova......the- W.M.S.it
year ago. Owing to the absence
of the president,. 'Mrs. %Via. Me-
Vittie, •the business ..part Ile
meeting'. was taken by, xbe vice!
president, Mrs; Chas. Smith. flaw
weremade for making a baby's,
layette. !The tinaneial report. was
given: Annual n)embers' fees, $10;
four new life members. • $1(10;
autumn and Easter thank-offer1
461 ; collections and, donations,
$00.50. Sent to Presbyterial secre-
tary, 4205, which .put the Sooleily
well over the allocation.Tile
meeting closed with m
a hymn and
the benedietion. '
Ath 10. TRADPREt.
.1116 General ' Manager rePorted
Another satisfactory , year ,for the
bank's_branches•in theWest ladies:.
Central. and stioutp . Ames:lea, encl.
in other areas .oetside Canada.- He
.not ed. -pa &dente rly . t he sin -wort ant
service perforatied by these branches
in faeintating'.aed;prOmoting !trade
between' Canada and other. nations.
An importent and neeeseary coMples
ment •to the ..Goverriment'S :trade
activities "ere the banking SQ11"leef4
and„'•41 rs t-li a lid '. knowledge • whieh
no•ur branChess abroad can- and do
contribute.' .With our. ',chain new
slumbering bi- offices . outside . of
-Canada and with officers who have
been trained on the 'ground,' .speak,
,the •laugeage,'.and are • fully eon -
versant with loentsreqUirefeents,
.we are 111 en , unrivalled posiltion
Ito a'...sitsts Canadian 'exporters and
l'imPorters • and.. all ' those - direetls•.
- intereited ;•in the 'deVeiopment ; of
t
foreign •Oommerce; • Over the years
;11-rf. foreign . serriCe of the , bank
itas•,offered expellent opportunities.
to young Canadians •who 'have de:
sired to make,:, ft career of inter-
national' bank -leg. Seelt eeportnni-
ties • still .exist for -Voung men of
coerage who have the beckgroaed
and Preparation required to quali0
for inesortaut• pastsinsour foreign'
rietwork of branches.
' -• TRIBUTE TO ,011.,APF -
, "The gratifying figure- we have
fhefore us today, are due to a vers
la rge- . degree te. tire ' . efficiency. . ; 6 a-
thusiasne. and aggressivetiess of. the
members a • .the :staff from 'junior
(-Jerk .Up, and it is fitting that I
should, say to them „a formal but
VPi*Y:". stneere thanks' for a job well
some degree' the bona fide SUN.-
' done. • .
• leg of the piddle: '
4) Direct controls,;„ espeeitely in ilit the ordinary:day-to-day bust-
' , lins forne ot price eeetrol atid .°"•5 of ; t'li'' banks 0" staff. P011
re tiouleg, :Weald ' be measures. sinned thilmepy traditioe of -friend-
•
of the last resort, and. should lineSs alWIlY'S ilgS0(41,11(4i with. The• •
he ,treated 'as atop -gap devices,
.not, a8 'substitutes for a true
• , anti-inflationary policy.
• "PerhapS. we . shouSd not . ignore'
the possibility that, having failed
1:o realize their. hopes of eapitaligt
catalyse.; through' .11°st-war depres-
sion, the cOmmuniSts are now trying
to engineer . capitalist' - collapse
thraugh .'....the„ • inflationary presiiow the organization. . , A
Of .a. ctintinuouS armaments boom.. ' "1- (1116. uss"re. the Directorsland
1344 ,once • the. required 'anionnt of shareholders. that morale' is high.
arMaments expansion. has been de-' •tinit that 'whatever .new•Prise's eonse
Iermined, the • inflietionary' problem ation ;le; in the neesopeninS`' yteir.'
created • by ..ithat . expansion must :votir sfaff will Ilumsurt, 1•10.- ' '
somehow'. be met. '•
Alba
•
• PORTER'S HILL
,
.DONISTXBR9Q1C, Jau i. --/The
Many friends
sou were sorry to leara!. that she
had .fraetnred.•'a 11/P I. 4441; at
her, home in Wingharn arid Wish,
for her -a Speedy au d Complete re-
Cevery. -
' Mr. and. Mrs. W. 3. ern*, on
Allen and granddaughter, ' Carolyn
CraigAnburn, were Sunday
Viators with ;Mr. and Mrs. R:Cluim-
aey and Gordela. •
- Mr. and Mrs. -Win. Webster, Mrs.
Geo, Webster, Mrs. ':Stuart Chata.;
ney and,Diane were r,eeent viSltore
with Mr. 'and „Mrs. Clliff Henciersbn
itt Kippen,
. Church, ifirerlfers Meet. The
and W.A. held their" regular
meeting •ou Titesday afternoon, at
the hOtue of Mrs., Mark .A.rmstrong,
witha attendance": of ten, The
meeting was arranged and presided
over by Mrs.. R. Charane,y. , The
responsive service at, found in the
Missionary Monthly was. used, in
Opening. The treasurer'ii 'report
,showed the allocation, had been ex-
c‘:edediv $2.0`last year. There ,)vviA
a discuSsion on the 4eiking, of
quilts, etc., ete.,,.for the,Spring bale.
, Norman. T,hompSon , gave a
teading.ou paission Werk in Angola,
and Mrs, Edw.. Riabinsen , read an
article on Christian stewardship.
The, first eight verses of the etit
DONNYBROQ
PORTER% HILL, Jan. 15. ---Miss 'chapter of St. Miltthew were read
Phyllis Harris*, of London, spent as the lesson,' 'Ir. Stuart, Chem-.
;the' week -end • at. her home. ney gave *a reading, "Thoughts for
.MISs Audrey Harrison has secured the _Nem :Kger„,,','; Mrs. •Thoraas of
it tio•sition, 14_,the_F,, mpuument p.r., Toronto fivored•With a solo, accom-
lice in Godeach. •panie-d-hy-herenother, Mrs: ' ,(Rer.)
A euchre; .
emr,..iirid Anne, ,'ivin, .0. C. -Wagflineten. The 'second half
be. tteld'in the schoolhouse this . of the- ehaPter in the study book,
Friday evening, January to. Irwin'S • The 'United Church Re-enters
orchestra -will st'eiply. the music., iJapan, throu4 --Partnership in
Church* Work," ''Svaessread by- Mts.
• Tile W.A.• of Graces.'Ohurch....met Jeffenson. Mrs. ' Washington
at the parsonage at Buyfield'with I °I -las‘
eleeed the ',meeting • with prayer.
a good attendance. The preside4, Lunch -was- sereed by- the --itosteSs;•
Mrs. A. Hai:ries, opened the 'meeting 'assi.Sted by Stns. Chas. JefferSon
with a hymn, after -which Mrs.
Renner'. led• in prayer.. The 'Scriu 'll'ild 1.11' Edw. Robinson. `,
Sure; from Matthew 5, was read •
-by Mrs. Wihnerssl-larrison. The
• . waS answered by -the pay-
- ,
The various...by-Saws pertaining JIM' of." feei. The traVelling apron
to salaried • and nOS'snlarled of- Was started out and alsost birthdhy
ficials, the appropriate bylaw for
roade and bridges 'and,. the., bylaw
for borrowing money were passed.
• , Motions .
J ames Herten.---pirold. Montgom-
ery: -That the -Clerk•send .in re••,
quest Act "Mr: .Coombs, '• district.
engineer, for the sum of $5:000.00
to be ellowed fel. new bridge on
Sharp's' Creek..
. John Rernighan —Harold- Mont-
• gomery That thd ;Connell give fee home of • Mrs. Jobe siNfeCOwan. „
authority to the Treasurer to bore Estelle Cox; who is teaching
Tow ,$12,006.011s for Township pur- Kinbure, was home for the week -
poses if and when. necesSarY.
Harold Montgomery-,--Jatnet-H•ets •
. end:
• "
ton.:- That • 4 $15 grant be givep the '
book was. Started. It was planned.
tlitic• pot -leek sePPer. •'wOuld be
served at the annual emigtegational
metIng- to be .held.. Teesday, Salm-
ary lpth. . Mrs. Renner.. conducted
a •Contest,. which everyone -gnjoyed.
The meeting -elosed with hymn
after ,which- Mrs. Renner and- her
helpers., Mrs. Alvinspettles and MrS.
Allen Beetles, served.a lovely lunch.'
The February 'meeting...will be alt
Roeal Bank of Canada.
"Fer their friendly emiduet of
business as well as for their' readi-
ness to rise and meet' emergencies,
1 eXpress t•he thanks of manage-
ment •• to; our almost 12000 'staff
members and as 'well te., those Othet.
employees of the bank WhO-coniti,
ibute so, inueh to the effivieney Of.
Huron. Crop -Improvement Associ-
ation. • - ; • • . ; , ,
J elin Kerniglian--James liortoel
That • the -final': date for extending
the collectees roll -be March 10th.. -
"Teeence Hunter es-, . John . it erni-
ghan : Thtit, the Council joiii add
ailoiv $95 pers_delegate.for the. ,Good s
Roads and Meuieipal,-Affaies ._cen- I
veetion. at Toronto. • , ' . . .
.
. lanies Horton-sTerence Huieter:
That ..Wie- pay ' the - . Meteopelitau
,CasultIty , and .WaSvanesa . 'Matted,
insurance. • Coulee IlieS. $52.50 for s
burglary •ineuisinee 'and llotids.1* • ;.!' S'
Terence Hunter --:--. John. Kerui- l •
'-ghan .: Thar -the usual grant, of ,$25 i
lie given the Salvation Army;
. Terence Hunter' es John Kerte- ;
•glum: That 'Reeve Snyder . , awl.
George Bean be a eimunittee to net
for Council re, the John •Allin ditch'
(pine . .
James Horten—on Hunter
That till aecennts be paid : ISoad i
veuehers. $56:1; Earl. .Martitt and
Gerard. Lassaline, fox • homily, ,$4
Wm. Sallows, old -age pensimts, '-eX-;
penses and. stamps, - $21: ;' Municipa I ;
World, , Rel. -Seed :Statutes,' - $25;
("aunty of Heron, indigent patient, !.
$45; .Salvation Army,. London, $25'; ;
R. G. Bennett, hgrieulteral 'repre- ..
sentative; grant, 115; .OnttiriO'Goed
Roads - Asso,ciatime. ' membershin •
fee; $Si- -R, J. Moofe;' .Towinship„;
Hall telephone account, ..$11.20;.:'
'Frit nk 1 in ,11 ellw a in, 'aeetanit, - Tow es i
ship Hall,. $10.; Gordon Jewell, '111,
;suraiiee, $52.50: Sanits Coal -Co, re-
lief account, $8,S5; relief account,
$141.15; , Wm. ,Westlake, salary4
$8511200v.eci.by james Horton .we ads,
Jenne to meet .I'ebruary 6th nt .2.
p.m. • . . ,
. ; WM.. SALLOWS, Clerk.1
ss-
. „ . ____....._. .
AVE,STVIE. IAD: .
. „
WESTFIELD, Jan.' 16.. --Mr. and ' , ...
Mrs. Norman MeDoweil ' and, .Mis. 1
and Mrs. Howard' Catupbell, Ilsited . :.
on Wednesday ' eveni g With . Mr. • "
ii.
and Mrs, Ales:. Robertson Of White-
"As a *Meting to `this end 1 slionld
. would, 1 think, be • broadly' aecept- like .once more to emphasize the
able to a majority of citizens, moral and econoirdc. obligetion of
whetheisinside or outside the gevern- democratie governments to male-
•ment. , I would eunimarise them as. tain ordinary extientlitures ti•t.' the
follows: • . lowest possible level. If demottatic
Voltintary sating through the etteeriVinents fail to sneet this obi'.
patriotic reettaint, of constunP: onion. they Will. in effect he, giving,
tion shoukl". be encouraged, by. a measure of atd and comfort to
-the 'enesq-. At this Stage...the most
arsenul of war centrols is the con-
.
trot of ordinary' governmeat expen-
diture. • •
Emphatically, the price of air
Safety is.; net only the expenditure
exiainple„ _of
government, business, -and' PrD-
vette citizens: ,i.e., throttgh less
• noti:military expenditare by
govermilent. leAs
, pension baSiness, sleks
• coniti0niltion, (especially on
;credit) on. 'thes• part of. private .Sasit Smits providep by snving
• . and taxes, but eternal vigilance
.21 Volnutars saving ShOuld he over the 11(054 10 101(41 itilleSe funds
enpouraged; • borrowing, , are pia., A ' major defence' effort
esuraged.. -and' dont' poll0 hos' such an i*pact upon our .emno-
• tnade effective ' allocting Title resources and ()Ur standard oi
• (Vainited movement tower& living that a .demoeratic •goVernment
, higher intereid rates., Would. be guilty of errminal
3,1 Taxes required, to prevent in- gence If it did ma do all it (amid
.41hrtion sintfild Ahientilize Oen. to preserve , the free ee0110111y by
sumPtion and. reward saving. confining its ordinary expenditures
. whether through direct' taXeS -to absofute minimum:
011 00.11S111511114611 Or 00110' "We havii all heard At stud nt
11101510 take.% That exempt to One titne :or another that American
Mrs,Vin..Poil;ter• Was leader for the
Meeting, taking the theme
• (Ooderieh TOwnsilip), to The
T:TNION (otalerich' '.To' wnship). Mmicing Together wit s.
hymn "statitling at the Portal" was
Jan., 10. --The anninti,, meeting' long. ,The roll, can .was, answered
-
Union th1R4td Church will be held with- the text..Word q.ove." The
on Wedneadtly. evening, tnuarlir Merlpttire leeson was. taken iiiom
.• .24th, at the hotnr-of Ur, atanley ItomanS, -Stit, chapter. • During the
••teflw41ln,„ ..bin41ttess period 4130 treasurer's, re-
'hiketiog,...trhe 3a,nuaryitort A,414. read by Mrs. Puller,aMw
l5100thlg of Tinton , was- held ging a "prosperous. year,.. with a
on Wednesdays January lOttho reawnable balance on hand atter,
1)1110 ho,tue, o Mrs,, tleorge 481 cilwa1n,.,m041tlbt4 the allocation. Mrs, Ve*
wire 11011511,051 *14filbers present, Oltire read tile report it the dower
• '•
•
•
•
capital is taking over. our econority,
My reply is simply that, if this
is true. then we hare no one te
biome but ourselvo. If 'Canadian
Clipital is not playsieg a large enough
Ala in developing our resource's,
a cid expanding, our nd us try , the
reason must be not that Canadian
capital is 'too -meagre dor the Joh,
spire- -Of-41w,
stakes, Canadian , eePit al' ,refueet:ni,
lte take the risk, .Prom here on
ler Jus ,See ,to that 0110' vision,.
our energy and Or risk-taking
spirit are riot • fothel wanting.
Actually it new- .spirit of -enter-
prise is' :thread in the land-ssper-
Smelly I have great faith in it.
T believe this is the spirit appro-
priate to the trne Canadian ehar-
actor.
Et „may not be toe mneh t� Mope
Ito t Canada May •,•hectime.. as it
were. a working model of' the We,
eeortomp in melon, and ft MITStant
reminder' to the world tit large
/hat Attie road to economic _freedoM
is also the. shortek and safest road
`Soel.al progress!! .
•
fund which also • had been, quite
ktteeess01. An account, was giVen
of ethe bale which witspacked and
church. • t tr, .
N1.1`4,43 Mildred CbsIk Belgaive
shent the week -end With her cousin,
.Violet Cook; -
Thcsacranten't Of the Lord's Sup-
per ,WAS diSlieWd" nt the church
serviee oil Sunday.; Commencing
;Stuiday„Ittnuary, 21st,' the. church
services will be held in the school
room for the. Tema inder of • the
winter. • •
:Sir.' and Mils. 'James McGill, of
Clinton and 'Mr. and Sirs.,,R.
see-nt7sSfSBIS'XfVwssru_svisitorsineN_St--
-field 'on Sunday.
a
Mr. and Mrs. Chits. Smith and
Sierjorie„ Mrs,* Elwin Taylor and
Miss Nbethit 'visited with. Sir. and
Mrs, • Mac Newton' et. Gotrie.
Mr.. and Sirs. Maurice Bosnian
And Mr. Harold Beeman. visited on
Saturday With Mr. and 'Sire, Dun-
can MeNichol of Walton. •
nnd•-Mrs. Earl Wightman,
Mr...Noreann.. Wightmen and ,Mrs,
Thos.' Henry visited on Tuesday
with* Mr. and Mrs....WeSley Stack-
house of Brifeetield,. Mrs: ilenry
reeinined- for a longer visit with
'her Sister, Mre. •Sta6khouse.
Mr. and Mrs. ,Jim Boole and
Jueietraf Crewe, Visited on Smithey
With Mrs. Pred• J. Cook. • •
'•Mr. Arnold Cook visited on (lSun-
day with Mr; Thos. Cook o t Vic-
toria Hospital, London.
Mr. Earl. Wightman spent': a
'001111101111' days the first •af the ireek
with Mr. and Sits. Elwood Stnek-
forwarded to Toronto. ?Jens Were hotis6„0 Lontioh.
made regarding homes for the meet: Mr. hineraqn' Rodger spent 0
ings throitgliont the coming year. couple ofodayS last week with -Mr.
TOW trenSillies heriks• were audited and MI'S. Maniel Cook' Of Milburn.
by Mrs. 'George likilwain •and Mtg. find, 'Sirs.. East of itom••
The nleetingl;tos brOuglit don vigited on Sunday 1;:ith Mg,
to, a dose 'with the byano' .'Tstke kid, Mrs.,' Wm. 'NfeVittle. '
lv Life and `tet II afte.r Aft and,,,MrS..W01:-IleVittie left
Willett the hostess served dainty' on: Tnesday to spend isatne time
lunth And a soma balf,iiour Wits With Alr.. land Itoy
Vent a pool, Mr, and MrS." Wra..Ettgi:
ASIIFIELD
ASHIPIELD, Jan. 15.. -Mr. George
Dunbar of, Ethel was a Sunday
visitor .at the home of his brother-
in-law, Mr. Amide MacMurehse
Alias Sadie Jellison gave a miss
cOliSeous shower last' Thursday
evening • in honor of • Miss Gretta
Catapbell Lucknow. • •
The • Y.P.S. of Nshfield T;resbys
terian,Church held a social evening
on Friday at the home -of • Mrs.
Dan Rose, sT,,he next meetingsis to
lie in the manse, at Ripley.
The annual meeting of the Ash-
fle4d Presbyterian congregation will
be ,held oe Tuesday, January 23rd.
L
Keeps; Our Pr',ices Iteasonals*'
._ _____,
In thee days of soaring costs, exert and Careful. plantiitirl)y• -
e'Verieneed personae' keeps fpe... traditional. high standiard ;if
Oranson 'Orviee available at moderate priceS. .
...
. ,. .
. •
. 00piRICH'S ORIGIN4,1.
FUNERAL HOME
17 MOisITREA1
1
NMILLER
TECEPO6NE 399'11A/791.'0"
I day_01,%ening ef last. week, when
BENMILLER;- Jan. 16. -,-Me.- and thirty-three Sunshine-Sisters:o e;•-
13ennaller W.A. sat down , to ,ft .
turkey dinner With *allecthe• trine.,
Mrs. Stanley Vanstone. • • mings. Mrs. Fleteher Fisher, presi. •
Mr. and Mrs. Frank Young and dent ',of the'. W.A.,„. had' Charge ot*--
Peggy, of Goderichr spent Sunday the entertainment:After the dinner.
with Mr. ftild„31r.s.,•Girvin Young., . and-§peeclies, tables *ere eleared,
Xi'. and •Mns. Jack, 'White and away eind the rest of the evening
,son,. a Detroit, and Mrs: Arthur was spent in playing, court Whitt
RoAs called on Ms. Polly Walters Mrs.. Stanley ,Snydtr held • the , high
i
on Sunday. ' . - score card and Mrs. John Xernighan
. .Stnishine Sister.--- A suceessful was low scorer. Each -received e•
„
banquet w,is 'held ,aft -the Brtash. lovely prim.. ,
,
Exchange Goderieli, Tue-
A. Craig of 'Teronto were'
week -end visitors ;with Mr. and
In ,the past fifteen years the '7'
• Royal Bank's assets and 'depo-
sits have multiplied Miles, .timps
over. Our position among the
woricPs great banks is a symbol
of Canada's great and growing
importance among the /lotions.
As compared with 1935:
8 a Place la which to live and work, to carp money .arid enjoy it,
A
Canada grew tremendously Auring.1950, It grew with new and bigger '
„ oilfields, factories, Mines, homeSpsZhools, srofes,anel trade'. In :fiet,.Canada •
grew in practically eveiy department of life and 'effort.
The Royal Bank of Canada shared in this groWth—growing
• with the'..country, helping it to grow. For there is:no field;of °
Canadian expansion in which the Royal Bank has not shared.
, Our loans to farmers, fishermen, industrialists, to firms
large and small and to individuals, showed marked increase
during the. year just closed. Our deposits grew to
$4,3 37,000,0(M; our assets to over $2,497,000,000—both
new records in Canadian tanking..
We improved oter premises in many places t0. provide faster,
Canada's' population
.. - * more'convenient service in congenial surroundings, an.d we has grow,e by
'-'--- — - - Irpenean-nittriber of rrew-Thiiiiithes to serve -lip -Mir -• ,. 3,0013,000.3inter 493-5-.-”
'
' expanding communities in cities, towns and rural areas. , , direpss ttilrd.
,
'
• coaltsgsweses,....,
•
4
Manufacturing wai. almost
throe, times enlister.
Looking forward, we shall continue our efforts to
serve all Canadians efficiently and in a spirit of
helpful friendliness. "
Exports, In della,'
tialueviare
taw *Wel; greedier
.antellapbit*
fivi flows arsitit.
kern arid steel readection •
was neariy
• four tknosferositer.
,Oilprodtst1onwds
tWontry thee Stifiteri.
C,Ootnrction lost riot
;•• vids almost
" ten arsetora
BANK
A GREAT 0ANK SERVIN6. ,k GROVVIN,O. UNritY:
GODEltiCiatitANTiit:W1 13. mama., manager.
t