Zurich Herald, 1937-01-28, Page 7Order this
trade -marked
fuel from the
'blue coal' dealer
...the colour
guarantees the
quality.
10.36
Financial
News
•
•
SI sinking is proceeding on the
Bourlamaque property of Payers Gold
Mines and, according to ofiitial word,
the first level will be cut at the 150 -
ft. norizon by the first week in Feb-
ruary. All equipment, which has been
paid for in full, is on the ground and
in operation. A new 80 h.p. boiler is
in rperation giving a total of between
130 and 140 horsepower. Upon com-
pletion of station cutting at the 150 -ft.
level, it is p'auneu to carry on 3,000
ft. .it lateral development simultane-
ously with shaft sinking which is to
be continued to the 275 -ft. level, where
a stuffier amount of lateral work is
proposed. Three shifts are engaged
one 2.4 -hour schedule.
Productio at Laguna Gold Mines,
Nortaern Manitoba, in December to-
talled $36,500, bringing total recovery
for the first 5 mantels of this com-
pany''+ *reduction up -o $164,700, or an
average of approximately $33,000 per
month. The management feel results
obtains in Decem .er an excellent
showing considering some minor
crusher trouble was encountered dur-
ing the month. Drifting and cross-
cutting on the 875 and 1,000 -ft. levels
is stea.cily increasing the known ore
reeerves. It is understood the mill is
presently averaging 64 tons daily with
anis`' eads approximating .70 ozs. or
$24.50 ,. Id per ten.
First official underground check
.ampling received from the Isenora
ptuperty of Tecumseh Gold Mines
fron.. three;,, cb;4nne1 sampler, taken
across 14 .ft,Of vein matter at th
we va ass
$160.55 gold per
ton. These resells, while somewhat
nigher than ex,iacted at that point,
shcw about tee sam r reeresentative
values me previoue sampling at lower
levels officials report. The property
adjoins Lig Mosta on the north and
last.
Number 2 diamond drill hole at l:e-
necho Gold Mines, Lenora mining
division, has reached a depth of 320
ft, according to word received from
Charles Young, managing director.
The hole passed through 22 ft. of vein
matter which is believed to be the
downward extension of a wide quartz
vein exposed on surface. A five-foot
porphyry dyke and z.nother five feet
of vein material were also encounter-
ed, while a quartzstringer was inter-
sected in greenstone formation at a
depth of 320 ft. The hole, aimed to
crosscut the formation, is being con-
tinued lei another 300 to 400 ft., Mr.
Young reports. A crew is also engag-
ed in _ ippilig and trenching other
veins i't preparation far the spotting
of dditional holes.
Suffice er•9loration is wounding on
the eartanen Malin Le Gold Mine pro-
perty in Malartic township, Quebec,
while a campaign of diamond drilling
issue No. 5 — '37
D-1
has just commenced to further explore
the ore zone revealed in previous
drilling operations. A series of boles
will be driller. along the major axis
of tue known sedimentary formation.
In the report of Alexander P. Rog•
ars, it is stated that the surface is
heavily cot eyed with muskeg, and the
drill holes so far put down have
shown a geological structure with
masses of porphyry and sheared sedi-
ments, as well as silicified sections
containing commercial gold values
across fair widths. Buildings suffici-
ent to accommodate the operating
crew for the winter's development
work have been completed. The com-
pany has between $80,000 and $85,000
available ie the treasury for the pro-
gramme of exploration.
Estimated net profit of Dame Mines
in 1936 after taxes and outside ex•
ploratior written oil'. but before de-
preciation, depletion and adjustments
of surplus and contingent reserve ac-
count, totalled $4,281050, equal to
$4,49 a share. on the +aide basis earn-
ings in 1935 were equal to $4.63 a
share, while after all charges for that
year net was equal to $3.90 a share.
Production in 1936 totalled $7,234,390
from treatment of 553,900 tons of ore,
against output of $G,939,98b from mill-
ing of 549;100 tons of ore In the pre-
ious 12 months.
1Premiium For Children
In an era when apartment- hunting
parents encounter numerous rebuffs,
not to mention such signs as "No
Children or Dogs Allowed," it is re-
freshing to read of a certain land-
lord in a mid -western city, comments
the Victoria Times.
Back in 1927, this aindly man made
agreement with his tenants. To
est chile born to any of them,
he:. promised to give a $5 gold piece.
On each successive baby, he agreed,
the amount would be doubled.
It was a ^other risky thing to do.
If, for instance a stork derby were
laun,hed in his community and one
of his tenants bore 16 children, he
would be faced with the necessity of
dishing out some $1,300,000 in gold.
His pledge has cost him only $40
thus far.
Oh, My!
A good reporter always gets his
story, a Northwest mountie always'
gets his man, and a genuine dyed -in -
Wool commuter always gets his train'
--or her train, as it happens in the
present instance.
She was hurrying along the avenue
in East Orange when she loosened her 1
coat and gave her skirt a hitch, as
a sailor is supposed to hitcb up his
trousers before a fig,at. A little fur-
ther on she hitched it up again --
and again — and again — and again.
Meanwhile the train was approaching
the erlington Avenue bridge. The
skirt wduld not May up. The lady,
exasperated, stopped short, allowed
the garment to drop to the sidewalk,
stepped -out of it, throw it nonchal-
antly over an arm and continued on
to catch her train. — Erie Railroad
Magazine.
mss x, -.e•
ILLAC
(No Personal Liahility)
We originally recommended this stock on Oct, 30,
'36, at 20 cents.
Present approximate market quotations, 38c bid,
41c asked.
We recommend immediate purchase at present
prices.
Write for full information and bulletin on develop -
!anent.
id etaIs Ex
!oration Coo
ELgin 0237
Suite 45-171 Yonge' St. - -
TORONTO ONT.
The company having received payment, the proceeds of this sale will not go into
the treasury of the company whose securities are hereby sold to you.
Orderly c
r4;r
very Urged
II milk Me tittsf
y
Speculative Bocans and Resultant Depressions Cdleist be Pre-
vented if Cei tedistic System 'to Survive, States Morris W.
Wilson, President and IVianaging Director—Recommends
Commission to Investigate : Financial Relationship of
Dominion., Provincial and Municipal Governments..
Sydney G. Dobson, •General Manan;er, Reports Continued Pro-
gress in Bank's Business ---. Deposits Up $56,090,000 —•
Profits unproved—Business Undoubtedly on Up Grade
Warning against the dangers of
a speculative boom, and a plea
that recovery be maintained on an
orderly basis, were outstanding
features of the address of Morrie
W. Wilson, President and Manage
ing Director, at the 68th Annual
General Meeting of The Royal
Bank of Canada.
That recovery wan well cru the
way there could be little doubt,
and "even the most sanguine would
have hesitated a year ago to pre-
dict progress as great as that
which has been accomplished dur-
ing 1936," stated Mr. Wilson.
In addressing the meeting,.., Mr.
Wilson said, in part: -
"A serious drought again affect-
ed large areas in the West, with
results that wer disastrous to the
farmers immediately concerned.
Those farmers who reaped good
crops last yea, benefited material-
ly by higher prices, but, in the
midst of a broad recovery, farm.
income has lagged behind.
"It is gratifying that the stocks
of. grain in Canada are again of
normal proportions. Nature is in a
fair way to take the Government
of Canade out of the grain busi-
ness. It is sincerely to be hoped
that she will not be .drawn into
it again.
Industries
"Prices for newsprint have shown
a slight- increase during the past
year and this, together with a
heavier volume of sales, has
brought encouragement to the
newsprint industry.
•
"In the lumber industry there
has been a satisfactory volume of
demand from Great Britain ever
since the beginning of their build-
ing boom. This demand has been
maintained during the- past year
and is the most important factor
in the improvement of conditions
in lumbering.
"The value of Canadian mineral
production established a new high
record in 1936, amounting to ap-
proximately $350 million compared
with $312 million in 1935. The
poespects of the Canadian raining
industry are more favorable than
at any time in the past.
"Throughout the manufacturing
industries of Canada, volume of
production has been above the
level which prevailed in .1526 -and 4.
in. October reached the highest '
point recorded since July, 1920.
ties which It provides to the com-
41nity continue to be greater than
those conferred upon people living
'tinder other organizations of so-
ciety.
"If we would set an example to
the world we must inanifest that
unusual degree of self-control
which restrains boons, and thus
avoids subsequent depressions.
Money.
"It is for this reason then that
the present monetary situation is
an ,outstanding cbailenge to eco-
nomic individualism. Can a popu-
lar government, such as that in
the United States, for instance,
deal effectively with the monetary
situation? The revaluation of gold
b' the United States and the re-
duction in the gold value of other
currencies, made almost unani-
mous this past year by the capitu-
lation of the Europea . gold bloc
introduced a dynamic intationary
force into world economy. It is
encouraging to note that this Po-
tentiality seems to be understood
by the monetary authorities in the
United States and that they are
taking definite action. The world
has not previously experienced a
period when borrowing rates have
been so low for so long a time. If
continued on this basis an un-
healthy and artificial s uation will
develop. Easy money is a powerful
force; it operates somewhat slow-
ly but to wait until it is evident
that speculation is out of hand will
be to create conditions which can
be' corrected only be depression. In
"spine quarters w.: are asked to be-
lie.�'e that the increased govern-
nMnt regulation of genera econo-
my may make it possible to con-
tinue low interest rates mare or
let indefinitely. I feel strongly
tlr•this view is not correct and
that the action now being taken
by no means premature. By
use; if necessary, of the huge re-
serves already accumulated it will
be. possible to prevent any serious
ini+erruption in recovery. It Is
surely better that wo maintain the
ujievard trend foi a prolonged
pe,iod and that recovery shall pro-
ceed in an orderly manner, with
the 'minimum of encouragement to
irresponsible speculation. We must
ozi'.no account allow recovery to
deeenerate into boom — the fore-
ru i tier of depression. Individual -
is' economy will stand or fall,
nding upon its ability to pre-
liepterin ons.
s i.a la"el,...,11tanager's ,Address
previewing the annual balance
'Mr. S. G. Dobson, General
Meager, referred with satisfaction
toan increase of $54,668,757 in
total asset's, which now aggregate
$$35,583,457, and to an increase in
ddposits during the year of $56,-
579.,900. i4ir. Dobson said in part:
Employment and Relief e
"At the moment manufacturing
employment is close to normal. In
mining, as a whole, the number
employed is greater than at any
time in our history. In trade the
volume of employment is not un-
satisfactory. Under these circum-
stances, 1 cannot but feel that the
time has come to examine with
care our lists of those receiving
unemployment relief. It is a not-
able fact that there has been no
census of unemployment since
1931. At a time like the present
a biennial census would give our
various governing , bodies facts
which would help them in deter-
minination of policies.
Division of Taxes,
Over a wide field of economic
legislation it is virtual] imposs-
ible
Y P
ible to guess whether ultimate
authority rests with the Province
or with the Dominion.
"Let us secure a review of the
whole subject by a Royal Com-
mission with the object of resolv-
ing these complexities. Changed
social and economic 'conditions
have thrown -responsibilities au
various governing bodies that were
never contemplated at the time of
Confederation, and as a conse-
quence it is found increasingly dif-
ficult, in some instances, to meet
these additional responsibilities
with the sources of revenue at
their disposal. Ilaving regard to
the necessity of maintaining the
national credit, if it is at all pos-
sible some solution must be found
which will permit both provinces
and municipalities to continue the
service of their public debt in full.
Individualistic Democracy.
"It is the fashion in certain
quarters to say that the system of
capitalism—or, as 1 prefer to term
it, individualism—has .failed.
"In the past it has adapted it-
self to changes in economic con-
ditions and social concepts, and
there is no reason to think that
such adaptations will not continue
to be made, In fact, they must be
made if the system Is to survive.
With.Communism, Fascism and
Nazisin competition, individual-
ism will survive only if the bene'
s
' Current •Loans Situation
"Tile -demand for loans in Canada
was, again disappointing, though
them have been indications during
tbg' last few months of increased
requirements for business purposes.
While advances tinder the heading
of Current Loans in Canada de-
creased $41,251,783 during the year,
this does not mean that the re-
quirements of our ordinary,. bor-
rowers were that muco. smaller.
The- reduction is fully accounted
fogy- by repayment of two special
loans, namely, about $33,000,000
due by the Wbeat Board liquidated
principally through the sale of
surplus stocks of wheat held un-
der, Government control, and the
repayment of approximately $10,-
000,000 due by the Canadian Pacific
Railway, being our participation in
the loan to that company made by
the chartered ban:ts of Canada tl.
der Dominion Government guar-
antee.
"I give this information to cor-
reet an impression which casual
consideration of this item in our
Balance Sheet might create, that
is, .abet business is still undergo-
ing a process of liquidation.
"In this connection it is interest-
ing to note that total commercial
loans in Canada of all banks are
only. 50,46% of the amount out-
standing at the end of 192e.
"Duo to increased volume of
business, 1 am pleased to report
an t,nlpr'ovement in Profits of $201,-
482 While not large, this is an
eneburaging trend.
Improvement in Business.
A review of conditions in Canada
and other countries in which the
bank has branches, indicates a
definite improvement in business
n Canada and in practically all of
tho' foreign countries in which we
are represented. Business is un-
doj btedly on the upgrade, and 1
1odk forward to 1037 with a
grater feeling of confidence than
b-; been justified for sante years,
There are over 17,000 post offices
in the United Kingdom at which
Saving Sank business is carried on.
How to Make MONEY
in GOLD STOCKS
Booklet telling how to soled when to buy,
how Iona IO hold. Sent to those interacted
in ;mina well selected mining sleeks.
WRITE FOR COPY
98„
R. BAIN A COMPANY UD.
!104 Boy SL Toronto
Stuff and
+- ons en e
1
Vacationist (to old villager) ---
"May 1 ask you how old you are?"
01d Villager — "I be just one
hundred."
Vacationist — "Really? Well do
you suppose you'll see another hun-
dred?'
Old Villager — "Well, I don't
know. But I be stronger now than
when I started on the first hundred"
We do not know who the author
of this poem is but we all subscribe
to the sentiment:
NOISE
Don't brag or bluster and blow your
horn,
And think the world lucky that you
were born.
The firecracker bangs, as firecrac-
kers do
But the dynamo works quietly true.
For power is noiseless — like eagle-
wings,
And noise is powerless to do big
things,
While racket and roar are the waste
amounts,
And they never accomplish a thing
that counts.
The rattling wheels ren't power and
might,
But the silent current that's out of
sight.
And there's never a bit of bluster
and blow
To the force within that makes the
things go.
For the perfect machine and effic-
ient man,
Accomplish the most by the noiseless
plan.
And the work of the world is done
today,
By silent power in the quietest way.
So its what you DO; and the results
will show
Without the need of bluster and blow
If a young lady refuses to mar-
ry her lover, she should be careful
about this sister business:
Ethel — "Why are you bringing
me all your old socks to darn?"
Scotchman — "Well, when you re-
fused to marry me, you said you'd
always be like a sister to me."
Guess it's floating ar'und some-
where: Lost in or near lawyer's of-
fice. 1 housemaid's knee; return; no
questions asked. — South Bend, In-
diania, News -Times.
The mistress of the house heard
the door bell ring and saw standing
at the open front door a Chinese
peddler. Quickly retreating, she cal-
led out to the maid.
Mistress — "There's a Chinaman
at the door. You go, Ella."
This was too much for the China
man, who .;tuck his head into the
hall, and shouted indignantly:
Chinaman — "You go 'elle your-
self."
There is no price tag on sleep, nor
yet tax, but the way some people
avoid it, one would think sleep is
the most expensive commodity in
the world.
Mother — "Well, Nellie" is your
doll kitchen completely furnished
now?"
Nellie — "No, mother dear, I still
need a policeman for the cook.
There is no collateral upon which
you can realize more than a big cir-
cle of real friends.
The woman is childless who does
not think her baby superior to all
others.
First Caddie — "What's your man
like, Skeeter?"
Second Caddie — "Left-handed,
and keeps his money in his right-
hand pocket."
Through the generosity of Mr. J. F.
Willman, the Boy Scouts of Barrie,
Ont., have come into possessiou of an
ideal 100 -acre permanent campsite on
Lake Simeoe. The land contains a
considerable quantity of birch and
cedar and other soft woods, part of
which may be sold to meet the cost
of preparing the campsite.
A.11 18 members of the recently
formed troop of Scouts at the Ontario
School for the Blind, Brantford, have
passed their Tenderfoot Scout tests.
The boys made Braille notebooks
covering tbelr Tenderfoot work, The
girls of the school made and present-
ed the boys with a troop flag and
neckerchiefs,
During last winter Scouts of the
lst Atholville Troo1, N.B., realized
$380 by the sale of miscellaneous fret-
work articles made by them and sold
in the district.
Fossil bones of a pre' ' etoric mon-
ster were found in the face of a large
boulder during a hike 30 miles west
of High River, Alta., by the Scout-
nhikster and A Scout of the lst High
River Troop. The centre Lone of the
vertebrae was four inches in diameter.
Parts of two paddle-like fins were
carefully chipped from the rock and
forwarded to the National ateceum at'.
Ottawa. The find is said to be the
first o: the kind in the High River
area.
case of assorted Australian jams
was the Christman gift of the 2nd
Liedfiei 1 Wolf Cub Pack of New South
7aales, Australia, to the Wolf Cubs of
L. h &]Held, Sussex, England.
The highest decoration of the Re-
public of France, the Insignia of
Maple Syrup
Evaporators
Makes real high class
syrup retaining the
maple flavor you
like so much. Evap-
orators that Will
make profitable your maple bush for a
smelt investment. write for catalogue of
equipment. It Is interesting.
Price Low — Quality High
W. GORDON STEEL WORKS
LIMITED
'he generosity of the American TIMED, ONTARIO
pe le is a fine tradition — we have —
tie is r failed to heed the call of dis-
tress."—Franklin D. Roosevelt.
''Many great evils In these days
have fallen like a scourge on human-
ityi, on civil society and on the
ehmeli."—Pope Pius XI.
TORTURE In A Minute
For quick relief from the itching of comma, blotches,
pimples, athlete's foot wales, rashes and other tilde
eruptions apply Dr. beards' pure, cooling, aatisep•
ficuld D. D. 0. PRESCRIPTION. Its genus osis
soothe the irritated skin. Clear, greaseless and stain -
los -dries fast. Mops tho most intense itching te-
etantly. A 35o trial bottle at drug store,, proves it•-•-
oa anoncy book, Aek for D. D. D. PRESCRIPTION. 28
3rand Officer of the Legion of Hon-
r, was presented by President Blum
at the Elysee, Paris, to Lord Baden-
Powell, Chief Scout of the World.
Lord and Lady Baden-Powell were in
Paris to attend the celebrations mark-
ing
arking the 25th a...,iversary of the or-
ganization of Scouting in France. On
Sunday the Chief Scout reviewed
some 20,000 Scouts and Guides, and
attended a great gathering of Scouts
r-' the Sorbonne.
Rubber .Bush
Not many people in Europe have
heard of guayule — pronounced
"y -u lee'"— a small rubber -produc-
ing shrub. It has been grown in
Mexico for more than twenty years
and practically every tire in the
United States has one or two per
cent of guayule in it. Oece it grew
wild in the most barren sorts of
Mexico, then Mr. W. A. Lawrence
perfeeted a process by which rubber
could be producrd from it. At the
present nlclncnt the average shrub
gives about 10 per cent of good,
bone-dry rubber, and plans are in
the making to plant thousands of
acres in the States with guayule. It
has one characteristic possessed by
no other rubber -producing plant —
guayule flourishes in belts which
occasionally suffer from frost,
Classified Advertising
MEDICAL
1
F YOU ARE TROUBLED WITI•I GALL
Bladder and Liver Ailments, write: Two
Eleven Gerrard Street, Toronto.
1N1'ESTORS
AN OFFER TO EVERY INVENTOR. List
of wanted inventions and toll information
sent free. THE RAMSAY Company, world
Patent Attorneys, 273 Bank Street, Ottawa,
Canada,
"QUILT PATCHES"
FIVE POUNDS $1.00
B
EAUTlrux. Materials! Washfast! Prints!
Broadcloths t Ma' a five Quilts! "Fres
Pattern." Refund guarantee! Eton Mills,
Department veils, Outremont, Montreal.
EXPERIENCED SALI7SMI':N WANTED
to represent one of Canada's largest men's
tailored-to-rreasure clothing organizations.
Our great purchasing power and manufac-
turing facilities enable us to produce the
finest men's tailored -to -measure Clothes at
the lowest prtcea in Canada. Liberal com-
missions paid to our representatives, plus
generous bonuses to good producers: Apply
at once, stating previous experience. P. 0.
Box 2560, Tvlontroal, Quebec,