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THURS, NOV". 27, 1941
THE CLINTON NEWS -RECORD
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CANADA'S telephone traffic is climbing to new peaks!
Engaged in all-out war effort Canadians are depending
on telephone facilities more than ever. That's why tele-
phone workers are determined to maintain the fastest,
moat efficient service under all condition.
They are especially grateful for the sympathetic co-opera-
tion of all telephone users. Subscribers can aid in
making severely -taxed telephone facilities yield maximum
service . , .
• By looking up the number in the directory
• By speaking distinctly direedy into the mouthpiece
• By answering promptly when the bell sings
Please be sure, also, to replace the receiver on the book.
Over 120,000 times last year, tele-
phones were reported "out of
order" because of receivers left
off or improperly replaced.
These things are what we mean
by "co-operation".
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r�l� ii>t�rk'Jj N1�1vc>; 11Y CLIN3.'ON EARLY IN
• THE CENTURY
Some Notes o f The News
in 1916
FROM THE CLINTON NEWS.
RECORD
NOVEMBER 23RD 1916
Mr, Fred d G. Rumball of London fen
on an icy walk the other day and sus-
tained! a fracture of several ribs. Mr.
Rumball seems to have been particu-
larly unfortunate for only a few
weeks ago he received, severe injury
to his hands when two street cars col-
lided.
The marriage took place at six
o'clock yesterday evening at their
home on Mary street •of Ethel Mildred,
only daughter of Mr. and Mrs. G. A.
Bradshaw to Mr. Laurence D. Stephen-
son. only son of Mr. and Mrs. A. B.
Stephenson, also of town but recently
of the London Road.
On Tuesday there passed away at
her home on the Bayfield Road, Gode-
rieh township, one who had borne
much suffering with great cheerful -
Word has been received by Mrs. I. ness in the person of Sarah Watson,
Tong of Startford that her husband widow of the late William 0. Elliott.
who wase recently reported seriously The 320 gallons of whisky which
ill, had, died in a hospital in England. Jacob Weber of Seaforth b^'rght last
Pte. Tong, who was, an Englishman, August, expecting, as he sr:d, to have
having been a resident of Canada for sufficient to last him his lifetime, will
six years or so, enlisted with the 38rd, not go back to Seaforth, unless Mag -
battalion and was thirty-nine years of istrate Andrews' decision is reversed
age. Pte. Tong and his family resided by a higher court.
in Clinton for a short time and he was ' Miss Kathleen Crandle, manager of
connected with the town band for a Couch and Company's millinery de-
season or two, moving away from here partment spent a few days in London
with, his family about two years ago, during the past week.
Mrs. W. S. Law, collector o£ oust- 1 Mrs. E. M. McLean of London left
oms at Tilsonburg, died on Friday in last week to join her husband, Major
his 83rd. year. Mr. Law was at one MacLean, who has been in England
time a resident of Clinton and in the for several weeks. •
early sixties the "Clinton Courier" i Mr. Arthur McRae of Detroit is vis -
was published by Lacock and Law, and icing his another and sister in town
when the paper ceased publieation Mr. fora few days. •
Law went to Tillsonburg anti started Lieut Alex. C. Bowles, son of Mrs, I.
the Observer, which is still in exist- R. Bowies of Toronto and cousin of
came, but from which he retired sever- the Messrs. Steep of Clinton, as re-
al years ago.
It is with regret we announce the
death of Mr. Henry William Jervis,
which took place at his home on the
London Road on Friday last. The
late Mr. Jervis was born near Holmes -
vine and lived near there until about
five years ago, when he bought a corn- on Saturday and is taking in the Hort-
fortable home on the London Road icultural Show there this week. He
and retired from active work. He is will also visit in Peterborough before
survived by his wife and .a family of returning,
seven, five daughters and two sons. Messrs. G. B. Harris and J. Brown
The family consists of Mrs. Alex E1 returned on Saturday from Trout
Nott of the Bayfield Line; Mrs. John Lake, where they had been on a hunt-
Batkin of the llth concession; Mrs. ing expedition, and brought with them
Thos. Anderson of Goderich; Fred, a fine deer.
and Walter of Alberta and Mabel and
Laura at home. Four brothers, and I Heard In Hallett, on Nov. 20th, to
five sisters also survive. Pte, John L. and Mrs. Heard, a son,
tJohn Franklin).
Miss Clara Ferguson, who has been I Mrs. W. D. Fair is in Toronto this
visiting with her sisters in town for week attending the Horticultural
several weeks, and who had offered show.
her services as a military nurse, lea- I Mrs. Softley of Niagara is spending
ves today for Montreal, having re- a few weeks as the guest of her moth-
ceived orders to report there Friday. er, Mrs. Wigginton.
Miss Ferguson goes with the Queen Pte. Douglas Goodwin, younger son
Alexandria Imperial Nursing Service. Queen'
Mr. A. Goodwin a former resident
Gently been awarded the Military
Cross, •
FROM THE CLINTON NEW ERA
NOVEMBER 23RD 1916
Mr. J. Gunanghame went to Toronto
Address
SAMPLE, COPY ON REQUEST
Bank of Montreal ' Issues Strong Statement
With Assets Over Billion Dollar mark
124th Annual Report iShows High Liquidity—Re.
sources At $1,046,000,000 Setting New High
Mark.:. For... Year -End... Statement—Commercial
Loans Rise 18% --Deposits Up $79,000,000 Stand,
At $928,000,000
PROFITS STATIONARY' — EQUAL 4.51% ON
SHARHOLDERS' EQUITY
Indicative of the extent to which
the Bank of Montreal is participating
in Canada's war effort is the large
assets figure of $1,046,551,479 shown
in the institution's annual statement,
just issued,—a figure which is the
highest shown in any annual state-
ment of this 124; -year-old organiz-
ation. Important increases are also
found in deposits and loans --the for-
mer at $928,387,889 also consitiuting
a record at the close of a financial'
year. With high liquid condition, sub-
stantial cash reserves and Large hold.-
ing of high-grade securities, the re-
port reflectsthe characteristic stren-
gth of the bank and gives ample evi-
dence of its ability to meet the even
greater demands that may be made
upon it as 'a result of the war.
The statement, which is for the
twelve months ended, October 31, is
set out in its customery "easily under-
standable" form, the various items of
the balance sheet being accompanied
by explanatory notations.
I
Commercial loans, including ad-
vances to manufacturers , farmers,
merchants and others, have increas-
ed substantially, being 18 per cent
above the ,1940 figure. In Canada
these loans amount to $234,427,000,
compared with $218,759,000 a year
ago; the comparable figures for
commercial loans abroad are $21,2'71,-
000 and $14,601,000. Call loans, both
;at home and abroad', show a drop, as
of Clinton, is another of Clinton's old
boys who are doing his bit for the Em-
pire. He is a member of the 152nd,
Battalion, which reached England a
few weeks ago.
Corp. L. D. Arnold of the Canadian
Mounted Rifles is here for a few days
recruiting for his regiment, which
tacks 250 men to complete the unit.
His headquarters are at the Hotel
Normandie.
Walker—McDougal—At the manse
Varna, on October 16th, Masy Mar-
garet Isabella, youngest daughter of
John Walker, of Brucefield, to Hugh
McDougal of Tiverton.
Moffatt—Armstrong—at the Pres-
byterian manse, Seaforth, on Wednes-
day, Nov, 15th. Miss Mabel lVfoffatt.
of Tuckersmith to John Armstrong of
Stanley.
Mrs. (Capt,) Vanstone and Mrs.
Campbell expect to leave early next
month to spend some time in England.
Mrs. G. Grant of St. Marys is visi-
ting her daughter, Mrs. J. Wiseman,
The visitor celebrated her 85th birth-
dy on Wednesday.
Sergt. Earl Ross, sort of Mrs. Lucas
Ross of Seafdrth, who has been in
the trendies' of France for over a year,
has been recommended for the disting-
uished conduct medal.
Last week, Mr. C. B. Hale, in look-
ing over some old documents came
across a 'Circular to Advertisers' tent
out by the Toronto Mahe, Oct. 1st,
1868. In the circular, reference was
made to the lack of speed its steam
presses were turning out the papers
and the new Hoe press hacl been in-
stalled' which would print 8,000 papers
per hour; new type had been purchas-
ed and the paper was reduced from 3
cents to 2 cents per copy: The eireu-
tar was signed by George Brown, man-
aging director. Mr. Hale is sending
the circular back to the Globe office
to recall early history of that paper.
A young lady well known to many
in Clinton, Miss Edith Jean Stevenson,
daughter of Mr. Duncan Stephenson of
Toronto, was married on Wednesday
last to Mr, Elmer W. Wood, also of
Toronto, Mr, Stevenson will be re-
membered as a former resident of
Clinton having been for years in the
employ of the late Jas. Twitchell,
As the result of a .call from a build -
ng on which he was working •over two
months ago, George Rowcliffe, Lon-
don, contractor, died at his home on
Monday. He is survived by his aged
mother and, brother who have farms
on the London Road near Clinton.
When The Present Century
Was Young
FROM THE CLINTON NEWS-
RECORD
NOVEMBER 21ST, 1901
W. Rance is here from Great Falls,
Montana. being called en account of
his mother's illness.
Crich—In Tuckersmith on. Nov. 9th,
the wife of Mr. Ido Crich, a sen.
Elliott --1n Croderich• township on
Nov. 18th, the wife of Mr. Wm, A,
Elliott, a daughter.
Dr. Agnew of town has taken in as
partner, Dr. E, A. Billings, of Tor-
onto, who has had ten years' experi-
ence and is thoroughtly familiar with
every department of dentistry.
A marriage which will prove of in-
terest tools place at the father's home
in Seaforth, last week, Miss Henriet-
ta, daughter of Mr. James 'Young,
formery of 'Clinton, was wedded to
George Wesley Martin, a prosperous
young farmer of Oakville, Man., the
ceremony being performed by Rev.
Mr. Wallwin en Wednesday evening,
Mr. George, Rumlball, who died last
Thursday, was ,a native of Goderich
Township but had many friends in
town who extend sympathy to the
bereaved wife and family of two sons,
Bert and Ernest.
Among other shipment of stock
made from Clinton station on Tues-
day ware 850 turkeys which' were
bought through a local dealer by a
Toronto firm for shipment to the
English • market for holiday consump-
tion.
Mr. A. A. Schrenk, who for the
past four years has been representing
Frost & Wood in this district, • resig-
ned his agency on Thursday last and
about the middle of December will
leave for Harriston where he has
rented the Klondike Hotel from his
brother, Mr. Alex. Schrenk.
Mr. Victor French has enlarged his
paper, the Westaskiwin Times to sev-
en columes.
Mr. George McCartney of Holmes-
ville was thrown out of his buggy at
Newcombe's corner yesterday after-
noon and the horse came up the street
at its best gallop, but colliding with a
telephone pole at the Mason House
the buggy shafts and wheel were bro-
ken. Mr. McCartney was covered
with mud but not injured.
At two o'clock this afternoon St,
Paul's church will be the scene of a
wedding when Rev. C. R. Gunne, M.A.
will join in the holy bonds of matri-
mony Arthur Couch and Bessie Flor-
ence Bye. The latter has been a resi-
ident of Clinton for some four years
while the groom, who is a step-
brother of Mr. John Derry, has been
farming in the adjacent township for
(fourteen years. They are both nati-
ves of England and leave by the 2.55
training for the bride's old, home in
Suffolk. They may remain in Morrie
England permanently.
FROM THE CLINTON NEW ERA
NOVEMBER 22ND, 1901
The death occurred at Victoria
hospital, London, on Wednesday of one
of the oldest pioneers of Huron coun-
ty, in the person of John Ryan, of Mt.
Carmel, He was 80 years of age, and
well known through out the country
and very highly esteemed,
That the extensive works of the
Doherty Organ Factory, in this town,
should be entirely destroyed by fire
once, was bad enough; but that the
magnificent buildings which replaced
the others, should suffer in like man-
ner, is doubly deplorable. It is scar-
cely four years since the first fire took
place, and Mr. Doherty, with charac-
teristic enterprise, had erected the
new building. After making his hour-
ly rounds Saturday evening, the night-
watchman, Mr. John Foster, was- sur-
prised to see flames in an upper story
window ands immediately blew the
factory whistle and sent for the fire
department. The origin of the fire
is an absolute mystery and the prem.
ises were kept very clean, and, every
precaution taken against just such a
misfortune as has happened.
On Wednesday the Mayor fined a
young lad in town $1 and costs for
throwing snowballs and he wishes us
to inform the boys that he will fine
every boy who is brought up before
him for this offence.
The many friend's of Mrs. R. J.
Tuffts, of Belgrave,..will regret to
know that she has decided upon re-
moving to Phoenix, B.C. She does so
owing to the in health of her son
Julius, who has been living there for
some time. She, is an 'old Olintonian,
well known as the owner of consider-
able property here.
W. Cudniore of Kippen, the well
known exporter of hay, was in town
last week, having only returned a few
days previously from: four months'
visit in the old country spent princi-
pally at Liverpool and Glasgow. He
says that the demand for Canadian
produce is much greater than former-
ly, the English people showing also
a deeper interest in Canadian pro-
gress.
James Scott was called to Wood-
stock on Wednesday owing to the ser-
ious illness of his father, Michael
Scott, who is now over 90 years of
age. •
Miss Calvina MacDonalds left last.
week to take a course of training as
nurse at the Boston, Mass. hospital
BANK OF MONTREAL
Established 1 8 17
1 presentation, in easily understandable form,
of the Bank's
ANNUAL STATEMENT
31st October, 1941
RESOURCES
Cash in its Vaults and Money on Deposit with
Bank of Canada .
Notes of and Cheques on Other Banks
Payable in cash on presentation.
Money on Deposit with Other Banks .
Available on demand or at short notice.
Government. and Other Bonds and Debentures .
Not exceeding market valne, The greater portion consists of
Dominion Government and high-grade Provincial and Municipal
securitiet which mature at early dater.
Stocks
Industrial and other stocks. Not exceeding market value.
Call Loans
In Canada $ 4,472,437.64
Elsewhere 15,569,284.91
Payable on demand and secured by bonds stocks and other
negotiable collateral of greater value than the loans.
Bankers' Acceptances
Prime drafts accepted by other banks.
TOTAL OF QUICKLY AVAILABLE RESOURCES
(equal to 73% of all Liabilities to the Public)
Loans to Provincial and Municipal Governments
including School Districts
Commercial and Other Loans ..,
In Canada $254,427,218,03
Elsewhere . 21,271,754.14
To manufacturers, farmers, merchants and others, on conditions
consistent with sound banking.
Bank Premises ,
Two properties only are carried in the names of holding cont-
panies; the stock and bonds of these companies are entirely
owned by the Bank and appear on its books at $1.00 in each case.
A11 other of the Bank's premises, the value of which largely
exceeds $13,900,000,00 are included under this beading.
Real Estate, and Mortgages on ileal Estate Sold by
o the Bank .
Acquired in the course of the Bank's business and in Process
of being realized upon.
Customers' Liability under Acceptances and
Letters of Credit .
Represents liabilities of customers on account of Letters of Credit
issued and Drafts accepted by the Bank for their account.
Other Assets not included in the Foregoing
Making Total Resources of
•
•
•
•
$ 92,755,884.45
38,972,993.05
54,960,697.77
498,740,536.76
183,364.86
20,041,722.55
6,811.15
. $705,662,010.59
Due to the Public
Deposits
LIABILITIES
28,964,546.45
275,698,972.17.
13,900,000.00
9447,199.39
18,772,428.22
2,606,322,43
$1,046,551,479,25
In Canada $809,110,875.52
Elsewhere 119,277,013,99
Payable on demand or after notice.
Notes of the Bank in Circulation
Payable on dernavd.
Acceptances and Letters of Credit Outstanding .
Financial responsibilities tutdertaken an behalf of customers
(see of -setting amount in "Resources").
Other Liabilities .
Items which do nor come ander the foregoing headings.
Total Liabilities to the Public .• ,
To meet which the Bank has resources as
indicated above amounting to
Leaping an excess of Resources over Liabilities, which
represents the Shareholders' interest over which
Liabilities to the Public lake precedence.
Capital $36,000,000.00
Reserve Fund, Profit Se Loss Account
and Reserves for Dividends . . 40,905,870.29
•
•
923 387,889.51
17,890,850.50
18,772,428.22
4,594,440.73
969,645,608.96
1,046,551,479.25
$76,905,870.29
PROFIT and LOSS ACCOUNT
Profits for the year ended 31st October, 1941, after making appropriations
to Contingent Reserve Fund, out of which Fund full provision for Bad
and Doubtful Debts has been made, and after deducting Dominion
Government Taxes amounting to $2,242,90510
Dividends paid or payable to Shareholders . . . $2,S8o,0o0Ao
Appropriation for Bank Premises , 500,600.00
Balance of Profit and Loss Account, 31st October, 1940
Less adjustment of previous years' taxes
Balance of Profit and Loss carried forward
HUNTLY R. DRUMMOND,
President
$1,321,642.15
225,000.00
$3,437,026.60
3,330,000.00
3 57,026.60
1,096,642;15
31,153,663.75
JACKSON DODDS,
G. W. SPINNEY,
Pint General Managers
* *
The strength of a hank is dete,wiineel by its history, its policy,
ii[
its management and the extent of its resources. For 124 years the
Bank of Montreal has been in thef resaof ore t Canadian finance.
f
was to be expected --the 1941 figure
of 20,041,000 being down by more
than four million dollars.
A significant decrease is to be not-
ed in advance to provincial and muni-
cipal governinents, including school
districts, which last year stood at
$35,313,000. The 1941 figure is $28,-
964,000. Itis believed that the reduc-
tion reflects ianprovement in provinc-
ial and municipal government financ-
es.
High Liquidity
As a whole, however, with the ad-
vance in commercial loans, there is a
sizeable increase in the bank's loaning
business. Notwithstanding this ex-
pansion, the statement reflects no
impairment in the bank's liquidity 1
for quickly available resources
amounting to $705,662,000 are equal
to 73% of all liabilities to the public.
Last year these assets 'amounted to
$663,185,000, ,equalling 75% of public
liabilities.
By far the most important item in
the bank's quickly available assets is,
of course, its holdings of government
and other bonds and debentures.
These amount to, $498,740,000, com-
pared with $461,827,000 a year ago
and +consist in the main of Dominion
Government and high-grade provinc-
ial and municipal securities which ma.
emesumememsagmetamftwo
tore at early dates. Cash in its vaults
and money on deposit with the Bank
of Canada increased from $83,034,000
to $92,755,000 which is in keeping with
the enlargement noted in deposits.
In Canada, the bank's deposits have
risen from $731,081,000 to the record
figure of $809,110,000, while abroad a
small increase has also occurred, the
1941 figure of $119,277,000 being
about million and a half dollars above
the amount shown a year ago.
With total assets amounting to
$1,046,551,470 and public liabilities
standing at $969,645,608, the excess
of resources over liabilities, which
represents the shareholders' interest
in the bank, amounts to $76,905,870.
This amount comprises the ',capital,
the reserve fund, the Profit and Loss
Account and reserves for dividends,
$1,046,sgl,479 and public liabilities
over which all liabilities to the public
take precedence.
Profits Stationary
Profits for the twelve months re-
main practically stationary. After
making provision for bad and doubt-
ful debts and after deducting Domin-
ion Government taxes amounting to
$2,242,905, the profit figure stands at
$3,437,026, compared with $3,435 941
for 1940, and is equal to 4:51 per cent
on the shareholders' equity, as again-
st 4.5 per cent last year.
After deducting dividend payments
of $2,880,000 and an appropriation
for bank premises of $500,000, the
balance remaining stands at $57,026,
which added to the amount in Profit
and Loss Account brings the balance
carried forward in this aceount to
$1,158,668.
Following are comparative figures
covering the more important items in
the. statement:
•
1941 1940
$ $
Total Resour-
ces 1,046,551,479
Liquid Resent.
ces , ,705,662,010
Deposits—
Canada. 809,110,875
Elsewhere .119,277,013
Gov. & Other
Bonds . .. 498,740,536
Commereial
Loans -
1 In Canada. 254,427,218 218,759,134
I Elsewhere. 21,271,754 14,801,284'.
Prov. & Mune.
Loans .. . 28,964,546 35,313,063'
Call Loans.—
In Canada. 4,472,437 4,606,348:
Elsewhere . 15,569,284 19,552,476
Capital, Sur-
i plus, Undiiv-
ided Profit's,
I and Reserves
•
961,334,955
663,185,436
731,081,210'
117,784,139.
461,827,040
for Dividends 76,905,870 77,083,656
Profits .... 3,437,026 8,485,941