HomeMy WebLinkAboutZurich Herald, 1945-11-29, Page 4.._.._... .
BX'NK OF MON1tEAL ISSUES
POPULAR FIN; IVCI"lq:`I., STORY
Strong • Financial F.ostiton of Caned-,
inns. Re1,400,000-Po-counts
eposits in
Over oanst Ban in 1 Get Months nal
at
Montreal ---- striking evidence of
the modern trend h banking methods
is contained 5a • this year's annual re-
port of the Bank of Montreal which
issued in Vat 'form of a well-illustrat
ed, easily -understood financial story -
is lifted oi$t of the class of the con-
ventional bank statement.
ecedent, the
Departing from all p t ' ill-
ustrations
of 1S t,eUs its 1945 story with
which interpret the finan-
cial
na yearxi
cial developments so d the p st state-
mentsterms of people,
hearts vwhhch take the details of the
report pat
t them. into ut of the errns of languages
banker
ar.of the
man in the street.
The story is one of record deposiats'
high resources and w
down showing just how the bantecort-
tributes to the economic life of Can-
ada through its services to well cover
a million customers.
In the old "assets" colleen - now
appropriately labelled "Resources
which the B of M has to mGet?'ts. Sib-
m-
ple
- are explanation.,
pie language, of the various items of
the balance sheet - cash, money., i
veetment •,, stocks, call 1oaee, (Mick
sessets, resources and liabilit.es.
Featured in the report is the 'fact
that the B of M has more. than one
billion dollars invested in Govern -
anent bonds and other highgrade se-
curities which have a ready market
and, therefore, are described in bank
parlance .as "liquid resources.'.
For further information on this
splendid showing be sure and read
the entire report in this issue of the
Herald.
ZURICH }Wrap
DISTRICT NEWS
iA gravel erusher, said to be ti?e
largest in Canada, is operating in
Win. H. 'Stone's pit in Usborne Twp.
for use .in gravelling county Broads'
and highway No. 88.
Harold Cantelon, recently dischar
ged from :the RCAF., has been ap-
pointed game overseer for Huron
unto With headquarters at Wingham.
A.Window in memory ofnt the omes lune
te
Mr. and Mrs. H. 13.
veiled lin Wesley -Willis United church
Clinton. The window was presented
by .members of the Chant family.
)Keilon-Fretnlin Clin-
:St. Paul's Anglican Church,
Clin-
ton was the setting for the marriage
of Miss Violet Fremlin, Montreal,
second daughter of Mr. and ':Mrs. A.
E. Fremlin, Clinton, to :Squadron
Leader Hubert George Keiller, DSO.,
DFC., son of Mrs. Elizabeth Keillor,
Mitchell. Rev. R. M. Bulteel, rector
of the church, officiated. The bride
given in marriage by her father,
wore a dress of whiter white wool
with gold accessories and carried yel-
low and white flowers. The brides-
maid, Miss Harriet Fremlin, sister of
the bride, chose pale green wool with
'brown suede accessories, and carried
flowers. Barry Wenger, Mildmay,
was
groomsman. After a reception at the
home of her parents, the couple left
on a wedding trip to Limberlost
Lodge, Huntsville.
Engagement ale Centralia Air nation aria the
- Fire in Stephen Township •
The explosion of a gasoline lantern i Loses Deer
age and driving shed on the farm ostarted a fire which destroyed a gar- •Wingham — The big thrill of
f ;bringing home his deer in the late
Roy .Schwartz, between Dashwood open season was lost to Russel Far -
Dead and Disabled !Animals
REMOVED PRS MPTLY
rine t Coiled': Exete ' 235. Seaforth 15
DARLING and CO. Of CANADA LTD.
ititsSjE`i'i'A.L WAR INDUSTRY)
reseneassamanweassetesaaseasaseasasesoasansesanatalleeseessassaamesuaatala
'Late Mei. Georg*. Jsol Liston burn.
s. A. C. Meidizxger 'is v'isifiing're-
latives in London, St. Marys 'a'nd'St.
Thomas.
Mrs. George Johnston, of the an
line, :.Staliley, -passed :away 'stidde sty
at her home on :Sunday. She was in
her 754th year. Was `formerly Luella
Coltman, daughter off. Mr. and Mrs.
Thomas Coleman as Tuckersmith'and
was a member of Varna United chur-
ch. 'Surviving •are her husband; a
son, Gordon at 'home; three sisters,
Mrs. Cecil Oke, Seaforth; 'Mss. Ralph
Colbourns, Tuckersinith; Mrs. N.
!Carnohan, *Detroit; a 'brother, Frank
Coleman, Hullett Twp.
ser -
•vices were hdldin'the Varna United
church on Tuesday afternoen with
burial in Bayfield. Cemetery.
BAYFIELD
Carey johnt, Osgood Hall, Toronto
was a visitor with 'itis fathe-r here.
Mrs. D. Peacock and son, spent
an enjoyable holiday In Toronto and
Montreal, where they were j'oin'ed by
Flt. Lt. Peacock,
,Mr. and Mrs- W.A. DadLaren'and
Marion of Goderieh were vrsttors
with Mr. and Mrs. Thos Sherritt.
Miss Logan and Mrs. Tlorney re-
turned from a Pleasant •vi it'in'Geda
erich.
Mr. and Mrs. Ray 'Paterson, of
Toronto, visited the past week eveith
the former's parents, r. and Mrs..,
°- l N S / TMR. J. Paterson.
Mrs. Alex. Budhanan welt known
Hensall resident 'celebrated. her'80th
Mfrs. Win. 'Davidson is' Visiting with . birthday at 'homeher Manila*
anila ' ltl,
relatives in Toronto. - She enjoys der
Mrs. E. 'Shaddick grid two sons sp- and attends 'her household duties
ent a few days with the former'esis- daily.
ter in Toronto-. Rev. Wan. Weir •ancl 7Mrs. Weir of
Mrs. i1ZcClinchey, Auburn, was the Hespler a.nd Mrs. Weir of Goderieh
.guest of her sister, Mrs. F. Har called on Mends here,
Mies Jessie Metcalf and Mrs. A.L..
Trout, of Detroit, were visitors a t
their respective homes here.
Mrs. Chas. Toms has returned to
her 'home after a week's visit in St.
Thomas.
Mr:. John Bairn has returned to
hex home at Grand Bend after spen-
ding three weeks with Mr. and Mrs.
Ed. Sturgeon.
Eocspe t thens son as1don, of
gest of
Toronto spent
Merton Merrier at the home of Mr.
and Mrs. Grant Turner.
George Stephenson, who has oc-
supied the Bailey red brick house for
some years has moved to the Goshen
Line, Stanley Twp.
Guests at the home of Mrs. M.
Gemeinhardt for the deer hunting
last week were Gilbert Knight and
son, Ronald, Frank Menzel and Al-
lan Jessop, Toronto.
John Marks had a narrow escape
when he fell off a beam in the barn
at his home. A tractor on the floor
below broke the fall but he sustain-
ed painful bruises.
Moved to Clinton
Mr.. and Mrs. Allan Maxwell have
closed their home here and moved to
their home in Clinton which they
purchased recently. They were ac-
companied by their daughter, Mrs.
A. Selker, and small son, who have
been visiting them.
Was In Navy
GunnerGarfif eld Vanstone, who
has received his discharge from the
CNVR, after five years' service, vis-
ited his father, Albert Vanstone. He
Left to visit his sister in London be-
fore returning to his home, in Parry
Sound.
STANLEY TOWNSHIP
Norman Greer has sold his farm
to Murray Grainger.
Mr. and Mrs. Hugh McMurtrie mov
ed from the town line to their home
in Hensall.
Mi. and Mrs. Arnold Gackstetter
of near Kippen were .Sunday last vis-
itors with the former's brother,
and Mrs. Elmer Gackstetter of Dash-
wood.
Mrs. John Hartman of near Varna
was rushed to the hospital with an
attack of appendicitis . alar
Deer hunting was the popular
p
sport the past week and several local
hunters were lucky to bag a deer.
The many friends of Mr. Atex Mc-
Connell will be pleased to
he is much improved. t is hoped to
soon see him out and around again,
Bride -Elect Showered
A pleasant afternoon was spent
at the home of Mr. and Mrs. Morton i
kIlliott when the ladies of the corn-
inunity gathered in honor of their
dauchtei, Lillian, and presented her
with a miseellaneoue shower. The
i,rido-to-be was the recipient of many
beautiful and useful gifts which were"
presented in a decorated wagon
drawn by two ittle boys. Tn addition f
to this, the ladies of St..-o:;n's Ang- r
IScan church, of which she is a mem-;
iter, presented her with a purse oi' j
money. A dainty lunch was then ser-
Ved.
Announcement
Mr, and :Mrs, Warren Schilbe, of
laippen, announce the engagement of 1
their youngest daughter, Olive Carrill
to Mr. Norman John 'J+'t>ieuson, cld-!
Bet son 09 Mr. and Ma:. William Per.. !
to:tr es .'Coad I.11.• ntarrltge to
i kke place early in December,
iuxsday, Novelxubor Jth, 194k&
KL APP'S ONE STOP SERVICE
MARATHON GAS
A. Gas known to every Motorist. WAiby take chances
on inferior Gas when you can buy the Best
Engineered Lubrication
At Klopp's you get Guaranteed Indian Lubrication, using 7
kinds of Grease. We invite sGyou to watch our trained
Attend
Expert Repairing
We use the KING AN ALYSER to TUNE UP your Motor..
]Batteries, Accessories, Goodyear Tires
Clean and Tidy Rest Rooms. Zurich's Finest and Most Up -To -
Date Garage and Service Station.
in and let us service and "Pep Up" your Car
HO AR :P KLOPP, LESSEE
Ward Fritz Used Car Lot in Connection.
Drive
and Crediton. A large barn close to ier, f tihis s tow town.
that he did hat his -didn't
nht,
the garage took fire several times,
hadbut was saved by the efforts of Mr. and was satisfied. But he didn't bring
:Schwartz assisted by a local bucket it home. After the "kill" be did not
brigade and later by firemen from home
immediately and
ownershipo prove;
he tied his deeroa fences,
It was gone when he- returned for it,
Russell suspects that some less fave.
ored huntsman carried off' the venae
son and now is probably.boasting of
his marksmanship.
ra_s 51 t!ittON CANADIANS
*•
i " i;-
',f4 fLFL! .M r.,.1)-47-
\4\ i -
:t.y
More than ..a million Cana-
dians keep their looney safe
at the B of M. Each of the
Bank's 1,400,000 deposit
accounts is an expression of
trust in this 128 -year-old
institution. The money on
dep sit, totalling $1,613,-
000,000, is being constantly
employed for the financial
needs of the nation, of busi-
ness, and of citizens in every
walk of life.
Business firms and private
citizens from the Atlantic to
the Pacific have, during the
year, borrowed and repaid
many millions of dollars from
the B of M. Now standing
at $220,000,000, the Bank's
loans oil the wheels of com-
merce and industry ... speed
their expansion . . . create
employment ... and help
Canadians in their personal
day-to-day financing.
Well over one hundred thou-
sand individual Canadians—
plumbers and postmen, truck
drivers and trainmen, doctors
and dentists, business men
and business women—turned
to the B of M during the last
twelve months for a Personal
Loan when extra money was
needed to take advantage of
an opportunity or meet an
emergency. Ninety-four peo-
ple out of every hundred who
asked for money got it.
RESOURCES WHICH THE B of M HAS TO MEET ITS OBLIGATIONS:
CASH ... Tlie B of M has cash in its vaults and money on deposit
with the Bank of Canada amounting to $ 161,907,891.42
MONEY in the forth of notes of, cheques on, and deposits with
other batiks (payable on demand or at short notice) 124,063,230.42
INVESTMENTS: The B of M has well over one billion dollars in-
vested in high-grade government bonds and other securities, which
have a ready market. The majority pf them will he paid in full at
early dates. Listed on the Batik's books at a figure not greater than
their market cable, they amount to
STOCKS of industrial and other companies form but a small part
of the Bank's holdings (actually only Vitt of i% of all its invest-
ments). Valued at no more than the market price, they amount to
CALL LOANS: The 13 of M has call loans (loans payable on
demand) which are well protected by quickly saleable securities.
These loans amount to .
QUICKLY AVAILABLE RESOURCES: The resources listed above,
all of which can quickly be turned into cash, cover S9.44r,''e of all that
the Bank owes to its depositors and others. These "quick assets"
amount to $1,464,326,243.90
LOANS: During the year, millions of dollars have been loaned to
business firms, to farmers, to fishermen — to citizens in all walks of
life, and to Provincial and Municipal Governments and School Dis-
tricts. These loans now amount to . . . . . . . . . . . 220,264,341,13
BANK BUILDINGS: In hamlets, villages, towns and large cities
from coast to coast the 13 of M serves its customers at 470 offices.
The value of the buildings owned by the Bank, together with fur-
niture and equipment, is shown on its books at
OTHER ASSETS: These chiefly represent liabilities of customers,
for commitments made by the Bank on their behalf, covering foreign
and domestic trade transactions, totalling $$16,895,827.58.
TOTAL RESOURCES 'WHICH THE B of M HAS TO MEET
ITS OBLIGATIONS
1,117,604,002.86
333,993.69
60,417,105.51
10,571.,610,18
20,772,125,26
$1,715,934,:.320.49
BAN
GEORGE W, SPINNEY, Pros/don
_... M,Ammo .-.a --
et
To buy seed, to market crops,
to improve their farms ...
grain growers, cattle and
poultry raisers, fruit growers
and fur breeders—farmers in
every line of agriculture—
borrow atthe B of M. Money
which farmers borrow not
only brings comfort and pros-
perity to agricultural com-
munities, but, by enabling
farmers to produce more, cot,
tributes to the prosperity and
welfare of the whole nation.
In financing the needs of
government and of business,
the Bank shares heavily by
investment in government
and other bonds and deben-
tures. Throughout the war
these investments have in-
creased tremendously and
today they amount to well
over a billion dollars. The
majority of these are gilt -
edge securities, maturing at
early dates, and are readily
marketable.
WHAT THE B of M OWES TO OTHERS:
DEPOSITS: Business firms, manufacturers, merchants, farmers and
private citizens, numbering well over a million, have money on
deposit with the 13 of M. These deposits amount to _
BANK NOTES: 13 of M bilis in circulation, which are payable on
presentation, amount to
OTHER LIABILITIES: Miscellaneous items, representing mainly
commitments undertaken on behalf of customers in their foreign and
domestic trade transactions, totalling $16,895,827 58
TOTAL OF WHAT THE B of M OWES ITS DEPOSITORS
AND OTHERS
TO PAY ALL IT OWES, THE B of M HAS TOTAL RE-
SOURCES, AS SHOWN ON THE LEFT SIDE OF THIS STATE-
MENT, AMOUNTING TO
WHICH MEANS THAT THE B of M HAS RESOURCES,
OVER ANI) ABOVE WHAT IT OWES, AMOUNTING TO
$1,613,428,705,56
6,619,026.50
17,144,653.99
$1,637,192,386.05
1,715,934,320.49
$ 78,741,934.44
This figure of $78,741,934.44 is made up of money subscribed by the shareholders
who own the Bank and, to some extent, of profits which have from time to time been
ploughed back into the business to broaden the Bank's services,
PROFITS: After making provision for contingencies and after pro-
viding $579,840.48 for depreciation of Bank premises, furniture
and equipment, the 13 of M reports a profit for the twelve months
to October 31st, 1945, of
Tars under the Income and Excess Profits Taxes Acts are estimated at
Leaving a net profit of
Of this amount, shareholders (paid dividends at the rate of 60 cents
a year for each $10 -share of the Bank) received or will receive .
Thus, the net •.imaunt `to be added to the balance of profits from
previous years' operations is
Balance in the 'Profit and Loss Account at October 31st, 1944,
amounted to
Leaving the balance in this account at October 31st, 1945, at .
B, C. GA.RDNER, General Manager
$5,719,681..58
2,785,000.00
$2,934,681.58
2,160,000.00
$ 774,681.58
2,413,821.32
$3,1.88,502.90
WORKING WITH C.ANADIA T E 'C11V WALK OF LIFE SINCE 1817