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HomeMy WebLinkAboutZurich Herald, 1934-02-01, Page 71 Review Favourable Year 1 S T S• .. For Royal Bank of Cauda : STRONG': POSITION 1VIAINTAMNED Sir Herbert Holt, President, Takes Strong View That Canada Is Now Definitely on the Upgrade. Morris W. Wilson, Vice -President and General Manager, Reviews Strong Statement. The •annual meeting of the !share- holders of the Royal Bank •of Canada marked the close e1 'a most successful; year. Sir Herbert Holt, President, in his address -struck an optimistic note when he stated that he considered that Can- tda was now definitely on the upgrade. Its progress, however, was being re- tarded by too heavy taxation and the cost of maintaining so many Govern- ments In the country was rapidly be- coming unbearable. Morris W, Wilson, Vice -President and General Manager, in his address reviewed the outstanding features of the strong statement of the Bank. The feature of paramount importance in connection with the possible formation of a Central Bank, added Mr.Wilson, would be the quality of its manage- ment. President's Address Sir Herbert S. Holt, President, in Moving the adoption of the Directors' Report, said in part: The 64th Annual Report and Balance Sheet submitted to you to -day disclose the strong position of the bank. While Balance Sheet figure . are somewhat Smaller than those of a year ago, this reflects a falling off in international !deposits rather than contraction of Canadian business. In fact, a notable :feature is an increase in Canadian Demand and Savings deposits during the year. The liquid position is emin- ently satisfactory. As you would ex- pect, the restricted demand for com- mercial loans, and the resultant in- crease in our holdings of less remun- erative assets in the form of Dominion and Provincial Government securities has combined with other factors to re- duce profits. In April last, the divid- end was reduced from 10 per cent. to 8 per cent., and the last three quarter dividends .have been paid at that rate. The improvement which has taken place in business during the last six months, has already had a bene- ficial effect on earnings. Referring to the situation in Canada, the President said: "I am glad to say that since we last met there has been a distinct improvement in Canadian business. I have had the opportunity of seeing this country recover from depressions on various occasions due- , ing the last fifty years and the presentt movement appears to be taking place along the accustomed lines. As soon 'as world trade commences to revive `there is an improved demand for Cana- tdian raw materials. Canadian exports ,increase substantially, surplus inven- tories disappear and „greater activity in the principal exporting industries provides additional employment with a consequent improvement in purchas- ing power and domestic trade. This has been the sequence of events in 'Canada during the last six mouths." the hesitation and uncertainty which precede a .change of adealnietration. Since last March quite material pro- gress has been made. It is difficult to analyze the effects of their policies and impossible to prophesy the outcome, Their central idea that an increase in the price lever must be obtained is sound common sense and ,is now quite generally accepted as such throughout the world.. At our Annual Meetings of the last three years we have empha- sized and re-emphasized the necessity for a higher price level. I see no rea- son why it cannot be achieved in due course." Ir closing Sir Herbert Holt said: "At our last Annual Meeting I express- ed the feeling that indications pointed to the initiation of a substantial re- covery in 1933. This year it is possible to go one step farther and to venture the opinion. that we are now definitely on the up -grade. If we deal intelligent- ly with the main problems that con- front us we can expect within mea- surable time a return of general pros- perity. 11 "I called on Mabel last night, and I wasn't any more than inside the door before her mother asked me my inten- tions." "That must have been embarrass ing.,, "Yes, but that's not the worst o1 it. Mabel called from upstairs and said, 'That isn't the one, mother'." General Manager's Address Mr. W. W. Wilson, Vice President and General Manager, in referring to the position of the hank pointed out that liquid assets totalled $362,471,000, and were equal to 55.76% of public liabilities, compared with 52.86% of the previous year. A notable feature is that 24.26% of such liabilities is re- presented by cash and cash balances aggregating $157,699,000. He mention- ed the further interesting fact that in Canada current deposits increased about $17,000,000 during the year and savings deposits were higher by $2,- 000,000. 2r000,000. In discussing the proposed central bank he recalled the hope which he ex- pressed at the last Annual Meeting that the Government would see fit to have the project examined by a body of ex- perts and said: "The Royal Commis- sion on Banking and Currency which was -constituted last summer could not have been better chosen. Under the Chairmanship of Lord Macmillan their sittings in all parts of the country were notable for the freedomwith which all possible evidence was re- ceived and for the patience and tact displayed in dealing with the material submitted. While I do'kot agree with the Report in its entirety I believe that a properly constituted Central Bank can be developed as a useful ad- junct to our banking system." "What's the idea of the Greens hav- ing French lessons?" "They've adopted a French baby, and they want to understand .what It says when it begins to talk. Neighbor -"I've come to take MY wife home." Hostess—"Oh, Mr. Jones, why didn't you come sooner." Wife—"The couple next door seem to be well devoted—he kisses her every time they met. Why don't you do that?" Husband—"I don't know her well enough yet." Excited Customer (to druggist) -- "Look here! You gave me morphine instead of quinine this morning." Druggist—"IS that so? Then you owe me another half dollar." The Railway Situation Dealing with the situation of the Government railways, Sir Herbert ex- pressed the opinion that the time for 'half measures had passed and that {bold and courageous action was re- quired. He felt that the views ex- ipressed at the last Annual Meeting that enforced co-operation between the ,that railway systems would not be a satisfactory remedy had been con - 'firmed by the experience of the past year and is still of the opinion that the maximum of economy can only be ob- tained by some form of administrative amalgamation. The President made a strong demand for a reduction of Governmental debts and pointed out that the cost of main- taining too numerous governments, Federal, Provincial and Municipal, was becoming unbearable. He said: "Greater activity in business will re- duce unemployment, produce increased revenues, and a reduction in disburse- ments''for public relief. "Advantage should be taken of these developments to reduce debts rather than increase expenditures,." Conditions in Other Countries In referring to conditions in other countries he expressed the view that the low point in the depression for most of the world was reached in the latter' part of 1932, and since that time' theve has been a general increase in intrcrfational trade. Reference to the •'EJntxed States was made as follows:— While business in the United States commenced to improve about the mid- dle of 1932 it later suffered a relapse due to their banking difficulties and - "Se. ,..-tt ,, lynxes' The Ng to Win You May have to travel the dreary road In search of your daily bread; You may have to carry a man-sized load On feet that weigh like lead. Tile road may be longer than you sus- pect, Discouraging, Steep and bad; But keep up your heart and your head erect And never say "die," ray lad. You're sure to find hurdles here and there, And you may be oft at fault; But where there's a will there's a way somewhere To prove that you're worth your salt. Strive hard to forget when you need a friend, Though friends you have often had, Remember that courage will always lend You faith in yourself, icy lad. Faith, hope and ambition Will help a deal, And so will a cheerful smile; The tougher the going the less you'll feel Disheartened, and mile on mile You'll carry your load through the lasting strife And some day feel mighty glad, Because you hal courage and faith in life; And faith In yourself, my lad. The Weekly Newspaper Turning from the city newspapers to the small town press exchanges that come to the editor's d.f.k is like stopping from the `slums, full of vice, into an old fashioned garden sweet with lavender and thyme and the scent of perennial flowers. The pages of the big dallies are full of murder, thievery, immorality, and selfishness, that the better news Is obscured by these glaring shaitterings of the Decalogue. One puts the papers aside with a feeling of depre- sien and heartache that the world Is so full of terrible and unhappy things. Then picking up the papers that record the happenings of the little towns around us, one gains renewed faith In life. Here are set forth only that which uplifts a community —the activities of thebusiness men, the church items, the happy social gatherings of the people, the thous- and and one daily occurences that make up the simple annuals of the great common people, who are really the foundation of this broad country of ours, Scandals are rarely published in country newspapers, but if it so hap- pens that decency demands It, the uglier details are omitted, or given a kindly touch that is widely differ- ent from the unfeeling publicity of. the city press. The offenders ` may be our neighbours or people who have rubbed elbows with all our lives. They are real human beings to their town people, while to the great city dailies they are merely grains of a sort that are ground.:out hourly in their news mills. Sometimes people speak lightly of the country newspaper, but it is one of, the most potent and uplifting fac- tors in .our national existence.—From the Christian .Science Monitor. The minister was paying an appar- ently never-ending visit to the home of one of the members of his flock. The little daughter of the house went up to her mother, and, in a stage whis- per, said: "Hasn't he brought his Amen with him?" A Chinese in New York entered the office of a lawyer and asked the fee required to get him freed on a charge of murder. Lawyer—"Oh, $5,000.00, I guess." Chinese (counting out the money)— "Veliee good. Now I go killee man." It certainly takes a mathematician to figure out how 80 per cent. of the, dentists recommend one brand of tooth paste, 89 per cent. another, while the remaining 85 per cent. choose a -third brand. Employer—"I am told you put down your pencil on the stroke of five o'clock even if you are just adding up a column." Bookkeeper—"It isn't true, sir. If it is so near 5 o'clock I never start adding." Note Issue Mr. Wilson expressed the strong opinion that the recommendations in the report with respect to .the gradual withdrawal of the note -issuing privi- leges of the Charthred Banks did not appear to be in the public interest. Retention of these privileges would not hamper the Central •Bank in its efforts to control credit, . In this con- nection he quoted an editorial which appeared in the London Economist to the effect that the Central Bank would not be in the least weakened by allow- ing the Chartered Banks to retain their, present issues under the present restrictions. Mr. Wilson went on to say: "I I think, therefore, that we should view the elimination of bank note issues not as a accompany the ` must ecreati nof inevit- ably cn- tral bank but as a separate matter en- tirely. The real question is whether the Government desire to have bank- ing service maintained at many small points throughout the country or to appropriate the revenue of note issues to themselves. I believe that the gain to the Government would not offset the loss to the public through curtail- ment of banking facilities. Unques- tionably there are many places wblah could no Eprivileges note issuing g werer support a bank to e withdrawn. The operation of a num- ber of small branches at a bare margin of profit is characteristic of banking in this country. We 'have as:'stem which in many of its aspects is native to the Dominion and prudence should prompt us to be very cautious in advo- cating fundamental changes." In conclusion Mr. Nilson said: "At our lest Annual Meeting P ventured to suggest that the prospect of further improvement in the coming year was very much more hopeful than it was the previous year. That prediction has been borne out by subsequent develop- ments. For the first time in years' an attitude of quiet but confident optim- ism is in evidence almost.:everywhere. Many problems still have to be solved but T have full confidence in the ability of Canada to share in the continued improvement • in economic conditions which I believe lies ahead of us. ^� 1. O E` „Jltlenttc City Then there is the young fellow who calls his girl "Checkers" because she jumps when he makes a bad move. Country Club Diner—"This Spinach does not taste right. Waiter—"I, suggest, sir, that ) on.take it up with the greens committee." How's This For Come Back? "Why didn't you tell me When he kissed you?" Mother hissed. "Why, Mother, I didn't know You wanted to be kissed `lite Preeminent HotetAchievement Classified Advertising AN orleErtl TO KY INVENTOR.. Gist of want, inventions and full information sent • free. The Ramsay Conry pany. ,Would Patent Attorneys '7' f.anlr Scree lutfurn rlanada . ConT, Arm OOZE. om,--WRITE OUR WHOLESAT41 Cj Departrnent for quotations on steaM coal. The Milnes (;oaf Co., Ltd., Toronto. C0LLEOTIO A7f'PTED:FrENTi�'L"I '�'• � TSTTKICT REPRESENTATIVL+' TO 1 P secure professional and mercantile accounts for collection, good rennunet'a" tion. 406-169 Yonge Street,Torroont o. BTo7iLAO8 iiE7.IEY. IDES -TONE, THE TONIC THAT: Daids Digestion, relieves iest Gas, Stomach Disorders, Constipation. At Druggists or by Mail $1. Diges-Toile Mfg. Co., Kingston, Ont. Gems from Life's Scrap -book Resolutions "Be not too slow in the breaking of a sinful custom; a quick courageous resolution is better than a•gyadual de- liberation."—Quarles. "Good resolutions should not be confined to one day in the year, but rather should be made and performed perpetually and adhered to with all the loyalty of one's understanding of Truth." —Amanda Golbath, Christian Science Journal. "Firmness of purpose is one .of the most necessary sinews 01: character and one of the best instruments of suc- cess. Without it, genius wastes its efforts in a maze of inconsistencies." —Chesterfield. "Resolve, 'arid thou art free."—Long- fellow. "Do not, for one impulse, forego the purpose that you resolved to effect."— Shakespeare. To assure yourself that you will en- joy a magazine, first pick up the pre- ceding issue and read the announce- ment of the contents for the coming number. Father (to his righter)—"It's a good plan, my dear,. always to think before you spear," Daughter—"But, daddy dear, when I do that the girls have e'.anged the subject." Fine Feathers Make Fine Birds Hollywood.—Solna may say beauty h. skin deep, but Jacques Lenver avers it is but clothes deep. Ringworm Infection Skin Troubles YIELD QUICKLY' TO Dr. D. D. Dennis' Liquid Pre- scription, made and guaranteed by the ,makers of Cainpana'e 1(taliairi Balm. Trial bottle 35o at your druggist it "Just a matte: of color and line, beauty ."is," chatted the Paris style creator, who now. a plane in the war before he started making women's gowns. "It is a matter of concealing and. revealing," he said. "Concealing bad points in face and figure, and reveal- Few Vagrants in Mexico Scolds show Learn to Be Charming By Correspondence Cleveland. — Health and handsome- ness may be a big help, but in the opinions and hopes of some 9,000 Cleveland girls, poise and pleasant elanerersation go a long wa,7 toward making a girl really charming. These girls are members of the As- sociation of Adventurers, a 'charm school" on a group correspondence basis, which had -its start in a " $ealth trial" •when officials decided the tuber- culosis death rate for Cleveland girls was still too high. The district dairy council, the academy of medicine and other organizations are the sponsors. "A few years ago,' says Miss Vir- ginia R. Wing, chairman of the advis- ory committee for the association, "girls only had to be lovely. When you pick a girl now, you don't want a 'dumb cluck.' You want someone who does things and talks intelli- gently. Each girl has been given a book for the charm course, in which she pastes her "picture. For eight months the com- mittee will correspond with girl groups, telling them how to be a hos- tess' or a guest, how to pay a compli- ment, what to say in a given situa- tion, and such things as admonitions about clothes and • liking—for charm as well as health. At the end of the eight months a second picture will go in each bock. The difference will be charm. There are no prizes, charm being considered its own reward. AFTER ACCIDENT SHE PUT ON WEIGHT Kruschen Took ill Off Agaiail Some are 'born grc..t, Some have greatness thrust upon then,, and the rest grate on your nerve.. Mistress—„Come, conte, Mary, how much longer is it going to takt you to fill that pepper box?" Mary (a' recent immigrant from where pepper castors are not used)— "Sure, ma'am,' and it's meSelf can't say how long it will take to get all this sneezy stuff in this thing through the little boles in the top of it." The trouble with minding one's own busines sis that it takes him to so many uninteresting places. Probably the reason so many young fellows are crazy about married women is because they never married one. Probably the first thing when the letter carr: ar getS home his wife Wants him to go for a walk. Mother had taken only three lessons in mind reading before she de- termined to, get a divorce from Daddy. A good definition of an -optimist is one who used a' paper weight to keep his bills down. THAT DEPRESSED FEELING IS LARGELY LIVER Wake up your Liver Bile —Without Calomel fiver are "feelingpunk" simply bcoause•your bile iisn't to ypouring urr b wlts Diigestwo pand eelimi, ahem ore both hampered. and your entire oyatem is being poisoned. What you need is a liver stimulant. Some• thing that goes farther than salts, mine aaollaago ell, laxative candy or chewing gums real which only clove the bowels --lets e of trouble, your liver. ske Carter's little Liver Pills. Purely vege• is le. No harsh calomel (merourY). Safe., Burs. for them by name. Refuse substitu e a at all druggtate 63 15 Billion Tons of Water Necessary For Wheat Crop Toronto.—Upwards of 7,000 tons of water are needed in the production of a single bushel of Canada's 400,•- 000,000 bushel wheat crop. The figure is based on a computation made by Canada's chief weatherman, John Patterson, the director of the Domin- ion meteorological service. Mr. Patterson has a flair for meas- uring the influence of weather on various phases of Canada's national life when he is not busy trying to find out when cold spells like the present are likely to end. So lie has found Mother Nature operates the biggest transportation rl.1SC Sri .A. woman sends the following ac- system in the world. Every years e count of the consequences of an auto has to 00 e, Senons 3f30,wate0 ,000 and sea accident in which she was involved:— 40,000,000,0 "A year ago.I had a very bad auto- and lake and carry it thousands of mobile accident, which left me more miles to drop it on the wheat lands or less a cripple. Having to lie in bed of Western Canada. Between 12, so long, and being unable to move, 000,000,000 and 15,000,000,000 tons of I began to put on flesh. When. e ou d I season. was this usA. little shortage, t came during the little en- able to walk a little again,faulty distr was 144 lbs., and being just under 5 means a partials or a] e or total crop faiblutie.n feet you may guess how I was placed. So I thought I would try Kruschen Salts, and I. must say they have done me a lot of goodain every ght down chiefly in keeping my In three months I lost 6 lbs. Then I left off taking the Kruschen, and I soon went up to 142 lbs. again. So o nd 'once I got more Kruschen, weight again steadily reducing. My last month was 134 lbs." — (Mrs.) W. H. M. Kruschen combats the cause of fat by assisting the internal organs to perform their functions properly—to throw off each day those waste pro- ducts and poisons_ which, if allowed to accumulate, will be converted by the body's chemistry into fatty tissue. ing good ones.Mexico.—Late mNlexrco. = Late judicial r °v "The right ki good-looking woman beautiful, nd of clothes can make among the 10,271 criminal trials the homely woman good-looking, the in that oo last year there were only and.the two cases of vagrancy. beautiful woman superlative—al- .ways." uperlative--al- 72 ktonap ways." ._ ._a,. A Daily Creed for the New Year "Let ins be a little kinder, Let be me a little blinder To, the faults of those about me, Let me pray a little more; Let are be,—When 1 am weary,— Just •a little bit more cheery,— Let me serve .a little better Those that I •am striving for. Let me be a little braver When temptations bid me waver'; Let me strive a little harder To be. all that I shon'.d be. Let me be a little meeker Let me think more of my And a little less of ME.". Use art absolutely smooth pan for the omelet, else d will stick. A Few Sips --•A Few Cents Coughs: Cods Gone nes . 'rhe list ln- eluded 269 'homicides and pings, In all, 12,053 culprits w're jailed. : FOOD FOR 'THOUGHT •� - The greatest number of deaths in True joy is a serene and sober exec the Toronto Hospital for Sick Chit- 1100 and they are miserably out that drew are the results of complication take laughing for rejoicing-; the seat of head colds, and not disturbances' of It Is within, and there Is no Cheer - of the digestive ""System, which are fulness like the resolution of a brave +'ntirely preventable. mind.—Seneca. neighbor BOCKLEY'S MIXTURE h not it cheap pre partition, but it takes so little of it to com, pletely banish a cough or cold that it costa far fess than any other preparation. Buckley's is so marvellously good that otia dose gives unmistakable relief,, Two doses may stop your cough or cold entirely.repGood.baratioe to ssickening syrups and dopey per, inions. Take Buckloy's. It means sale, relief from coughs, colds, 'flu or bronchitis. It acts like a flash—a single sip proves it," May safe. 'Refuse substitutes. Buckley's is sold avetywlseso. Rural Mail Anniversary - Twenty -five years have now passed since the great boon of rural free mail delivery was first .given to ; the farm- ers of this country. This was one of the most acceptable measure • in- troduced by the:Laurier aurier ministry dur- ing d it took form on Oct. 10th, 1908, ing the reginie of the Hon. Rodolphe Lemieux as Postmaster -General, : The official record of rurafree all de- livery in Canada is given A system of rural mail delivery was inaugurated in Canada on Oct. 10111, 1903, limited at that tine to existing l stage routes, persons residing on such routes being entitled to .have mail boxes put up in which the mail ;car- ries was to deposit mail matter and , from which he was to collect mail matter and carry it to the postoffice. a consequence of the public ap- proval of this scheme, new regula- tions, taking effect April fist,, 1912, 2, made all persons residing II districts,along and contiguous to well- defined main thoroughfares of one mile and upwards; eligible to receive': their mail in this manner, while cour- iers on rural mail routestamps re also quired to sell , postage take applications, and accept money, for money orders and postal notes. The result has been an increase in the number of rural routes from ap- 1 proximately 900 in. 1912 to 4,315 in 1932, having 235,755 mail boxes as against approximately' 25,022 in 1912. g The establishment of the�Se routes.; has been an important factor in the; amelioration of conditions of Caned -'l km rural life--,Gananoque Reporter. r1051—"Do have ranee more duck, Miss Stunner?" Bashful Guest --"No more, thanks." Host Oh, do, here's a nice little leg, just your size." General Knowledge The following selection of answers given by Indian students in a general knowledge examination seem to be somewhat fresher than the usual schoolboy howlers: Cochineal: "In Cochin the Maha- ranee is called the Cochineal." Snipe: "A term of abu,.e used only by soldiers." Ostrich: "The female of the camel." Greenwich: "The centre of the world where latitude, longitude and the equator all meet. For six months there is always midnight and for six months always midday and therefore 'the correct time can always be takes: from Greenwich." Municipal Office: "Very useful for sanitary purposes." PILLS 'The Work]. Famous Remedy for LIVER & STOMACH .TROUBLES HEALTH MEANS CHARM AND HAPPINESS Sparkling eyes and smiling lips speak of health and vitality. Clear skin attracts. The healthy activegirl is both happy and popular. Perhaps you are not really ill yet when the days work is done you are too tired to enter into the good times that other women enjoy. For extra energy; try Lydia E. 1?inkham's Vegetable Compound. It tones up your general health. Gives you more pep—more charm: Remember that 98 out of 100 women report benefit. Let it help you too: ISSUE No. 4-----'34