The Huron Expositor, 1919-01-24, Page 6the Canadian
1
merc
Address of the, General. .Manaker, at, the Annual
Meetini of the Bank -
daily exchap.ges. 'riiis increase is due
l solely .tman increased volume of cur-
rent banking' transactions. Seemities
of vaeicees kinds have increased 1$16,-
183,000, represented principally by
larger holdings of British and Cana-
dian, Government securities, On the
Other hand, railway and miscellaneous
securities have decreased. slightly.Sell
and shwa loans show an increase of
$8,324,000, of which the greater part
• is in loans Outside Canada, and imme-
diately available assets are $35.682,-
000 greater, standing at about 56 per,
cent. of our "abilities 'to the public.
leoinniercial loans show an increase of
of Commerce, at the Annual meeting of the sharehoiders of that Bank held! in
Canadian Bank $52,621,000, nearly all of which is lent
' be interesting to our. readers. Not .only d
. educing as can be cameo. on mister
oes .
• food deal of actvity in such mann-
Canada." While, there is re) doubt a
The address of Sir John Aird, General Manager of The
T4E ATIRON 'OS
h necessirrily -been placed OT1 Nita,- He neverotook his eyes- from itf 1
*06,04,1• n•
ness during' the war vrill doubtless dis-
appear before longi and they should
be removed. by the Goitermnent as
speedily as pofesiblee This will aid in
hi unemployment at home, and
enable our exporters to resume their
_
also be given to the prompt settlement - able, isn't 'It? 'They very next day i
gations of the -Government, and to ree ,
.operations in other% countries before , 8
of all outatanding contraets and obli- 1 •
I learned something that made me
1
In infusion is worth every cent of its cost the
the field is occupied. Attention should .
the i de, termine to leave -New Yorke
1 , Thes: .iire emeitniteitess.. zrsa"stIhowelosnedue:p.iofs.eiy:uti7ellin.ynsisedasaronluud.cky7 . s , . , , , i
claims arisint out of the cancellation 1 She asked no questions.
•
of contracts. flavor is Delicious and the strcngAbundant.
allowed.' o drag, ca sing greatth
tianede ptoreiblendtiviindeuatibsemalrbeinorproersaurntioinnpi held
• that opals were urduckY, but" --e. he on to it because everyone said -
li.t.iinate abo t it • - I deliberately
•
t ed to look atrlier--el'everything .
d d what he knew about it I
N
wonder if he threw it where I was to
come along to find it!"
"Found ft? Where?" Hilda aiiked,
"In the gutter on Twenty -Eighth
r Broadway. It's- 'remark-
-
JANUARY 24, 1919,
1
on the 1 , has ccane out wonde ully since it was Beyond
aotivities of themation. promPt
said:— d m h d t d lay in the business world. We have been
their accustomed pltice hi the peace st°PP
attention to- sfieh niatters the Govern.- thrown awaer-weve g
k "
*11 rythin except the _ The Most Economical
Batt
P• t —"tat fff- "Yes " Hilda agreed. "Everythmg Tea Obtamable Anywhere.
. .
due prices an o e
f t e eftent min assist' materially in. the escape of
z reahziaftein our wheat and other pro- fortunate in this country in that our. "I'm sorry we loet'him. VIVA 'WI -
34"° e. Question
4.1 an taken of Canada% prospects by one of her leading bankers. Sir John, . except . rooke s escape.
• , , e. view niont---------.- part of tins nicreaa res oast ew ra ion o a norma s e o a airs /mi. B , . ,,
• 1914, we hneet Without the sinister aosits bearing interest show e„an in -
De.. duce, w ieh has been reserved by the participation, in • the war has not in-
. averainent. The delay ' in this con- volved 'material damage at home. Our as we
ep ne e unces a
teaeh Boston." a wasewhersi sPent -iiss flinch of inY 4N
newed on the same colossal scale. We
rece that the sacrifice a life • ‘ action while no 'doubt largeler inevit- efforts have entailed no exhaustion on There wits a long silence, but the awAY from home, here in America.
d • h
—Miss My,rtle- Gillis, daughter. "of 1:71;:intehlsullidadlienlwY1•1° stl)le it)"
1 • 'd tly remained a disturb; Afthe my mother died --after my mo -
We shall never know nova lit was . than ever. Even after my education
he ex- answer was short and angry and mit&
I me want to "go home even less
; ip•negremofp
e For the fitst year since JanuttrY, which account .for $64,552,000
shadow of the great War sipon us.
them at ' their homecoming. The (4-' tesubject t its require- •
. overnmen , 0 i require- $440,310,000. T is mcrease is !D H d , • • • of the tonneau
sum of If • • r. yn man s hospital where in spite • •
t •• -2edenalyji, tioedYdihnegartouswa7rd' INmalupants
come back. All the long way way home
ti no rY y
to the welcome that awaits is gill at the credit 61 the D01111111011 MOD, allallOW amount to the very large -
monia On Sunday her Condition be
'
urably marked by the jubilees of both How to Save. I - kabl ' • •
year,ia ranee e, showing when ites i • • • to " • '
1 ed hat been rnarking
c t we have I passed away. The deceased Was 20
"Perhaps—but they arent likely I
—I was in. Deliver- when the news
came serious and she was removed I
vast_ year has been. pleaa: merits. 27,8 per cent. over the figures of last -
, of the best' of -care and treatment she s
. Once again the Mihister of Finance I
' time in the °Inning of new branches, ' ears of age: She is survived by her
our President and: Vice -President in
will deal at length with the business of the Bank during the past year Whichi
the circumstances o
has been a miost Sucessful one for the institution but it indicatestit •
said that if weren't born his son,
would have been a beggar; that lmd
•
ho th B bout it as swan:
crease of $12,181,000, an amount which
would have been much' greater had it
not been for the Victory Loam of 1918.
If we turn to the monthly statements
to the Government we shall find that
deposits payable after notice dropped
$18,853,000 during November, which is
solely due to the Victory Lam On
able under existing conditions, has a
prejudicial effect on those immediately
concerned. With the passing' of the
era of high prices, especially those of
farm produce, and a return of wages
to a more normal level than that of
munitiondna,king, we Must expect to
see decteases in the ;volume of both
of the warring nations and perplex- foreusare many and difficult; we tie- ing factor in his' thoughts. their died," he rePeated„ "I -wrote re -
Difficult as is the outlook before many Olirt part; an while t e problems be.. opa pm evi en
ing as are the problems for which a lieve that a satisfactory solution will "Everything but the escape of proaehing my father for not letting
- be found fee all of them. Brooke!" he Muted again,/ "I won- me laiow Abet she had been eto ill, and
solution has th be found before a sat
. es, der if he could tell me whether Mink that didn't helti /natters much. His
isfaetory peace can be concluded, hOs•i
the late David Gillies, of Exeter, pass-com 1 ted r rat
members. of our staff a -the frontwho Hyndman's hospital foll hig an at- t todecide e hat Ingr
have, survved the conflict, and others tacic of 'pneumonia. Miss Galles con -
Dr. . stolen in the dark. Rose never saw, he e s
the Mall who took it froni her room.' , erngds b *w I shoo. d elo
e/ most quite bring myiftiselfslitoe dboees- •
sgle weneutinng. aTren"—geargsat T:dpillusst:1
has come to an end and that those ed away on Monday night at
can nOw look forwaird with assurance. .ierithdrawn; a large part of t money lieve that it is -as unlucky ed then canitwecati rtifitgr:127;
tflities have ceased and cannot be re -
'11
the other hand, it must be remem ere
proceeds of the Victory Loan with the
by 1 loans and deposits. In ee ,o .
I present balance'sheet are :not exceeded
the Government for the deposit of the !not be surprising if the figures of the
that under the arrangements made
banks from which the money . was 1 for several Years to cime-
• 1 Total assets have $95/935,-
who ace near and dear to many of as, traded influenza followed by pneu-
came--all the way I was :thinking of
' mother who resides in Exeter. "Rose returns to Ne•w Yoribto-illor- twhhvert deaths
a11terriblerons tblbo we . to ms eye i fatherngkis
shit of our differences and determining
•
to do everything luny power to please
him. He must ha* been thinking on.
their -respee e ca gs. We lihve, : and the erganization whech eontrolled
therefore, many reasons for a feeling the victory Loan campaigns have won business of any other bank. .
and that we have not taken over e
statement which we have pleasure m many times, and without the use of With regard to the staff, it is our
tiv lin
of jubilation pnithis occasiOn, and this an outstanding success. The Victory
is added to by the excellence of the
e Loan of '1918 was over -subscribed. . Reiristate Returned Men.
,
presenting to you. any compulsion save the enere•brelith desire. to reinstate 1 all officers who.
An Excellent Statement of public opinion, the Government has wisirto come back to our service from
The earnings of the Bank have been been provided with more than the sum military duty, and- at the same time
good and the profits have again which it required. Yet, as I pointed to. avoid any hardship Which might be
reached a new high level, amounting out istst year, the lesson in t how to ated •by dispensing with the see-
- to 42,850,000, or $212,000 more thaa, a save, so strongly- impressed upon the
commtmity by these campaigns, is
year ago. We confess to a feeling of
pride that we have been able to main- their great result from the national
oint of view. Who may venture to
tain the premier place among Cana- 13
dian- banks in this, to you, important I predict what the knowledge thus se -
item. Notwithstanding the apparent I quired of how to invest savings vrisely
size of the figures, however, it must 1 may mean to Canada in the years to
' come? Except for the increaae in the
not be forgotten that the rate of earn-
ings of this Bank, as of CanadiEm productive capacity of the country,
balks in general, is steadily. decrees- this is perhaps the greatest material
big, when measured by the services benefit derived from the war. Along -
rendered and the extent of the effort side it the loss of a few millions of
deposits to individual banks is a very
put forth by our staff, On the average
of our total assets ctiriag the year we small matter, which,. if the lesson is
have earned only 7e10,ths of one per thoroughly -learnt, will require only a
cent., as compared with 1.27 per cent. short period of time, to remedy itself.
in 1913, the last year prior to the war, Bank Helped Loan.
and 1.37 per cent. ten years ego. Our efforts to assist the Minister of
Increased Service. Finance in Obtaining subscriptions to
.
The main causes of this, as I have the Loan have resulted in our secur-
pointed out in previous years. are, on
the one hand, the enormous increase in
the volume of those banking services
which are performed for the public`
without renumeration, and the fact,
that banking is one of the few busi-
naiees in which charges are sometimes
lowered but seldom increased, in spite
of the general inerease in the cost of
everything: else and on the other, the
increases in salaries and wages which
aloe inevitable to enable our men to
mat the great increase in the cost of
livbig. It must not be forgotten that
salaries and wages constitute the most
in the I were depleted by 'the ravages of naftu-
fOrinidable item of ex -Pei -lei
btidget of a bank, and it will readilyt'e3"-* • In connection With this as well
es.131`eViOUS 10070A,, We shall also be re -
be Understood that the responsibilities
and the difficulties of dealing' fairly quired to perform for the Government
special .servicese such as the payment
with, the members of our Staff, in view
of the high level of the cost of living, a etwP°115 and intereet during • the
teree of the roans, the last of which
are not small. does not inataie until the year 1987.
Depreciatiou Unnecessary. The Ca-nadian banks were also called
An unusual item in our Profit and 'upon during the year to assist in the
Loss account this year, which affords Dominion Government financing to a
%IS much gratification - is the recovery large amount, and we assumed our full
of the appropriation of $1,000,000 set share. of these advances. In addition
aside in the year 1915 to provide for we participate& in -a loan of $100,000,-'
the depreciation of securities.- We 000 to' the imperial Government
then expressed the hope of saving this, against Treasury Bills and renewed
or at least a part of it, at the end of the advances made against similar
the war, and it is a source of satis- security. to the Imperial - Munitions
2
he
row to look for an engagement.
"Poor Devlin"!
"He'll win her in the end, I think
He's waiting as she asks but he's not
waiting here. He's going, too. Bunce
offered him a partnership to remain,
but he's to start a paper of his own
in New York."
"Splendid! I'm going to do some-
thing for them both—if I can, he said
warmly? "Thank Heaven, I can now
repay David and let him have all the
capital he wants."
The dro lied Rose and David at
Opal Pin
Continued from Page 7
vices of the members of the temporary h until I settle with this young
staff, who have filled the breach so -man?" he Asked urbanely.%
acceptably' during the past four year?. He said something more under his
• Mildred accepted
With sorrow we record the deat m baliath. ns y
action of eighty-five additional mem- his hand, descended and walked -alone ,
bers of oue staff tiering the past year, to the Car ahead.
. i Miss Cobb's. Again, left alone, a
wounds, since the outbreak of the war. until she had "got into the tonneau. ' descend upon them both. -
Brooke watched. her, waited Silently 1 mantle of conscious silence seemed. to
makingea total, 6 226 who have been
The number of wounded men reported Alegi
Then be tarried haele to Durant. "Won't you come in?" she asked
killed in action, or have died of
to -us has now reached 294, 7 are gill ee. "What riowl"
, ybu've got me," he whisper- as he helped her out of the car at
1 her house.
prison camps. Under the terms of the him doubtfully. "Brooke ". he said he said doubtfully.
I don't know." Durant looked at 1 "1 ought to telephone to the Bunces,
recorded as missing and 23 as in the e
have now been successful in reaching -,propriated the necklace, but . why "But you. can do that here, and
propriaated the heoldace, but why quicker," she urged, leading the way
armistice we trust that these prisoners
allied. Or neutral countries. .
Increased Export Trade • I You aren't a common thief, you don't She went *to her room while he
did you take Miss Bunee's sunburst? inside.
A year ago I firged the importance have to do things like that, do you?" telephoned.. She moue down a radi-
to Canada of stimulating the produc- - "No." Brooke drew a line in. the ant, freshened creature, to fiad *hire
tion and export of food, the need of road with the sole of his boot. "The walking excitedly up and down the
ing through this bank the large stun orzeruzation for the purpose, an e y
of $104,543,000, represented by 150,773 attradiveness of the outlook for this ton I turned over to you.t 7
individual subscriptions. This amount branch of commerce,. The ending of 1 ‘Why—why did you take them?"
included $100,000,000 of new money- the war has in 110 wise, dimmed the •Durant's voice was gentle.
and represents le per cent, of the prospect. The lest nuniber of the 1 "To get you out of the way. That
total. It is gratifying to know that Agricultural Gazette, the official publi- I was all. I—well, it's hell to be caught
we have far exceeded the proportion cation otthe Dominion Department of in a situation 'such as I was. I was
which might he reasonably • eispected Agriculture, contains an appeal from letryieg—but What's the use of goirig
from us. Thisetesult has- 11okt-heel. ob- the -Dominion Government. aleing-•sinn (into all that?" Brooke's foot made
tained without very strenuous efforts ifar lines, end particularly emphasizes la deep cleft in lhe soft •soil.
on the 'part Of our staff, and also the the bright pr peets of the meat -ex- 1 Durant glan compassionately at
expenditure of - a large amount of i
money by the Bank. Unfortunately
the heavy task came upon our staff
suet at the moment :when -their ranks
. :
,
1 things I've laid heads on in Bola- hall.
"What do you suppose has happen-
ed?" he cried. "The police arrested
and held Brooke for being in that au-
tomobile I commandeered!"
"The opal pin!" she exclaimed. f‘Bv-
erything--every single thing has turn-
ed out right) since Rose threw it. a-
4
"Yes and listen to this. They were
arreste'd in Quincy. Bunce went out
and brought hie daughter home, buik
port trade. peaking of the outlook , him. 44.17111 ilOt a ii0100Mall an ort .
before this country now that the war hold anything,: up against you," he refused to bail out Brooke. . 1 got,
has ended, the Minister Brooke on the telephone and promised
Sir Thomas White, vteites; "There. could hear "So tar es I'm concerned to seeure his relase—of course, I w,aa
of Finance, I stated- in a *idea so low no one else
would seem . no reason to apprehend you _cell 0,, wieea and ?where you the one who really stole that ear—
any failure of markets for .all the food I pease, .. , - - 1,if be-woulditell.meiall.he knew about
that Canada can prodace. Our
grain.' I "Thank simal; ' .13rooke; his head that pin. He said that Mink had it in
live stock, and their prodiects, With, dropped, appeared to consider. "But . New York for several weeks. He lost
these of our fisheries, should all be in ee . his position. with „one of the city in -
keen demand at high prices— . In-
creese in our agricultural production
will not only help to furnish food for
a hungry' Europe, but will be a chief
factor in maintaining- our favorable
international trade balanee as Well."
All countries are seeking to increase
their export trade; all are hoping to -
be sellers and to ihnit their purchases.
Under such conditioni the successful
ones will be those' Which have special
advantages for a certain line of pro-
duction and which can find a market
for the same line of goods. Is there
any country better fitted than Canada
for the production of food, or any
branch of commerce in which an ample
market is more assured?
the same line, too, for we got along-
fine. He was more, indulgent to me f "My father and 1 have probably had
than ever before but he seemed pos- our last difference. I shall cable him
s
sassed with a not* that I wouldn't that we are to be marridd."
stay, that some day I would pack up , ' She looked at him a long time be -
as 1 had so many times before. That I fore speaking, her thought. "What
iiiade him insist upon my marrying —What if he objects to me?"
and setting doyen. He suggested girl He laughed. He laughed so loudly
after girl, but somehovr that always and SG long that she was forced to
made me conscious and embarassed : draw away from hirri a little to ee-
• .
neither thesindustry nor the ability to ,
earn enough to keep me from starv-
ing. --
"1 had lived so long in America That
this cut deep. -I told him I would.
show him wether 1 could earn my own. "
living or not, and 1 packed up my
things and tame to New York Re
wrote, begging me to forget what he
had said said come back. I wouldn't.
Ile hent me'my income through a: New
York lawyer. 1 refused to take it.
And then 1 found that a detective was
on my trail all the time to see that
didn't suffer. This interference en-
raged me. Lthrew up my positiort in
New York, escaped the detective, and
came to Boston more determined than
ever to show that at least for few
months 1 could earn my own. living..
1 haven't—not here—but only bemuse
1 got in wrong, because---. Howev-
er, nobe of that /natters now!" He
brushed it all away into the past.
faction to finel our prediction fulfilled. Board. f
On the other side of the aceount, eur
Finance 'rood Supplies.
- disbursements in the way of dividends Acceptances under Letters of Credit,
and bonuses to shareholders, and the offset in our balance sheet by the cor-
amounts requried to pay' the special responding liability of eiir customers '
war tax on bank note circulation and which appears among the assets, show
for the Officers' Pension Fund, are the .a large increase-, represented by ad -
same as a year ago. Subscriptions to varices in Canada and the United
valious funds of a patriotic nature. States secured in nearly every case
almost all of them the direct outcome by food supplies purchased for account
of the War, have called for K02,550. of the Allies. Cash on hand, consist -
A War Memorial - ing of gold and silver corn, and Do -
We notes, amounts to $61,971,000,,
We have set aside poopo to defray
. as compared with $54,652,000, a year
the cost of a -memorial we propose to
an increese of $7,319,000. Of this
raise in honour of the officers of the ago/
we had $17,500,000 in the Central Gold '
Bank who served in the great war,
Reserves, to provide cover for our ex-
ert& for the cost of the history of the
cess note circulation. Our total hold -
Bank to which I referred a year ago.
ing of gold and silver coin—prin-
The form of the memorial is not yet
cipally gold, but including the neces-
decided, but it will probably take
sary silver for the tills of the branches
"Afoot, I ,fear. I presume I must spection departmeats. A number of
. ,
tette charge of this ear as well as of other miafortunes happened to him.
the shoulder by a piece of masonry
"Qf course. Yes,. of course." Brooke
shape when we come to erect a new
building on our site here, an under-
taking which cannot long be delayed
if the natural development of the busi-
ness of the Bank is not to be hindeted
by cramped and unsuitable quarters.
After doing all this. we have been able
to tranfer $1,500,000 to Reg account,
-which thus becomes equal to the paid-
up capital, a goal which we bave aimed
to reach for many a day, but which
has called far long years of tireless
striving, before we could consider it
as fairly won. We might perhaps have
made a better showing on the surface
and have seemed to reach our goal in
a shorter period of time, but our wish
has been to build surely and carefully
upon a firm foundation, and in the
eiteantime to provide beyond perad-ven-
time for every weak spot in our loans
and securities` We carry forward into
the new financial year an undivided
balance of profits an -taunting to $1,-
444,842, or $112,000 more than a year
ago. -
Note Circulation.
Terning now to the General State -
merit, the first item of our _liabilities
is notes in eirculaeion. These arricemt
to the very large sum of $31,583,000,
or $7,588,00a more than a year ago.
This increase is not far from double
the large increase reported last year,
but we think that the reasons ad -
• Sane Spending
• Any number of plans are afloat for
bhe carying on of large public works
after the war. These are advocated on
all sides in the hope that the era of
free spending -may tide over that of
falling price. Few of the .promoters,
howeven, appear to 'have considered
where the money, is to come from. By •
ail means let, a wise and statesmanlike.
view of the mater prevail, and all
public works be undertaken which are
in the best interests of the community,
having regard to all aspects of the,
question. But let it not. be forgotten
that such works have to be paid for
—are slightly lower than a fear ago. sooner or later out of the taxes, and
We hold, however, a much larger the hope of every citizen at the pres-
amount in Canada, in the carrying ent moment, I may safely say, is to see
out a the views eapressed last year his tax bills reduced rather than large -
in referring to this subject. ly increased. Even public borrowing
Maintain Gold Standard cannot indefinitely postpone the evil
f aement
This was not accomplished without day P •
difficulty, owing. to the embargo placed: Reconstruct With Savings.
on exports of gold by the United, States Some of our municipalities are al-
Gov:eminent and to the demands of ready hampered by the load of debt
that Government; and the effort to in- incurred in former eras of prosper -
crease our haldings. has been further ity, and no one would advoate any
hampered by the decline- in the out* coneiclerable increase at this time
of the Canadian mines caused by the in the national debt of the Dominion.
present high -cost of production. It is The safe course is wisely set out in
gratifying to find a.substantial agree- the Curdiffe report, to which I have
rnent with our views on this subject. already referred. After spersIdng of
in the report of -the Iraperial "Coln- the pressure that is sure to be brought
inittee on 'Curency and Foreign Ex- to bear upon the state for capi-
changes after the War," of which tal expenditure in many forms for
Lord Cunliffe, Gavernor of the Beak reconstruction purposes, it points out
of England, was chairman. In its first that all money expended on recon -
interim report this committee has mu- struction work should come out of the
phasized the imperattee need that the savings and not be obtained by the
gold etandard should be effectively creation of /lel credit. The burden
maintained in Great Britain, and that of prevailing high intereet rates in the
the neeesslitry measures to this end case of sueh worica has also to be con -
should be taken without delay. Sun- sidered, and although the eutlook as to
ilar, -measures •are being urged in the the value of money. after the war is
United States by e 'not uninfluential uncertain, it seems probable thaCcur-
section of the press, and it is disquiet- rent rates in England are held 'below
Ing to hear a discordant -note sounded the nataral level at .present by war -
in. certain influential financial circles- time regulations, and that when these
its this eountry: We think that the. reetricticiee are removed, rates miay
tend upward rather than do-el/mimed.
It is clear that the importance of say-
ing and ecenorny in personal expendi-
tures -as a public duty will not be les-
sened by the ending of the War, but, if
possible, inereased.
It is interesting to note that the
London Statist is -of the opinion that
after the -war Catiada will prove more
attractive' to emigrants than the
United States, and that thus the drain
upon the manpower od this country
made by the war will be more than
'ye med ied .
The Future.
As to the future, we feel that we can
look forward with quiet confidence.
The multifarious restrictions whieh
Miss Bunee." And then .one day he was struck on
looked okay. "You don't miad enY'say- faniag from a skyscraper under con-
ing a few words of paw -jig to Mies struction near Madison Square As
Bunce first?" he asked' humbly. they were taking hint along Broadway
to the hospital he managed to drop it
Durant agreed. He, watched Brooke
out of the ambulance,"
proceed disconsolatelte to the car a-
head. He waited a decent interval be "Oh, Richard, I'm so glad you've got
rid a it!" .
foe* sauntering after him. Then
with them. Soon he got to twitting
me upon my cowardice and placing me
imembarra,ssing situations. That made
it worse. Finally --Durant, sighed ° —
"finally, in spite of all our • good in-
tentions 911 both sides, we had ati. open
quarrel. told him shortly that I
intended to choose my own wife. He
accused me of deliberately circumvent-
e
There was a catch, aitoemble in her
suddenly his page changed to a fran-
voice such as has drawn man to =lid
tic run. tins and Brooke had leaped into the seat at from the beginning of ei a a
warmth, a tenderness in her look that
the wheel of the car ahead, had theown
was like a call. In a moment they
in the clutch. He was off, leaving his
were in each other's arms.
pursuer clutehing vainly at the hind
It Was eleven of a late May night.
trappings of themlready flying car.
• Two people, now chattering' ecstati--
caller, now strangely quiet, heedlessly
deserted an automobile at the curb of
Bea,con Street and crossed through a
short sid.e street to the Charles River
(
Esplanade. The broad ill river, stir-
red, caressed by a so breeze from
the west, lapped the s one embank-
ment on which they stood, caught the
moonlight on its thousand facets. Here '
was night arrayed in all her jewels!
On either hand arched bridges girdled
the river, their distant yellew lights
gleaning like topaz*. Behind lay
Boston, drowsing in its nightly still-
ness; before,. - way across the river,
lay the very hem of Cambridge, its ,
factories and warehouses sleeping in 1
alternate light and shadow against the
nearer sparkle of the Charles. All
was gentleness of sound. A soft wind
playmga a river flowing—nig'bt in its
meekest moodeo-peece!
For a"loog dine they revelled in it;
each seeing, each assured ' without
words that the other saw, each re-
luctant tie. disturb the peace on and
over everything.
gam is a .
He followed, drew up close beside
her, at the rail until their arms
touched.
"Hilda, dear!"
"Yes"
"I'In thinking s ously of ha
this river dredge or the opal pm.
She shivered a tle invelunterialy
ing his wishes, of having no intention beidre eatehing the gleam in his eye,
of settling down, of seeking any ex- then, "Why?" slap asked expectantlye
cose not to do so, and of being the "Because if it hadn't been for tie
shiftless, conscienceless, disobedient opal pin I might never have come to
son he had formerly thoughtome. He I Boston and met you."
said, "one thing that really hiirt. He THE END.
They lost time lighting the lamps
of the Bunce car. They lost inore val-
uable time rearranging the baggage in
its tonneau so the car would aecomra•-•
odate all four. BY the time they started
neither sign nor sOund of the other car
remain.edlo guide them. They roamed
adjacent roads for an hour or
Government could well afford to pay
wanced for it then still hold. good, al -
*hough it le possible that in addition
there rney be a certain amount of
hoarding by a class of munition work. -
ors who adhere to old habits, and. hide
their savings rather than entrust them
tothe care e fa bank. If so, this cause
:should soon cease to operate, and we
e„ *ball watch with much interest the
eourse of the note circulation during
the next few months, in which the
greatest amount of contraction always
takes place each year.
Increased Deposits. -
a small royalty to eneourage. an. in-
crease in the production of the gold
mines of Canada. The condiffens
of -
the last two years have very adversely
affected the mining of gold,' especially
as compared with silver, and in the
interests of the country we believe
that the Government should seriously
consider some plan for placing this in-
dustry on a profitable footing.
Large Volume of Transaction.
The next item of the assets, consist-
ing of notes and cheques and balances,
due by other banks, shows an increase
$76,783,000,
The increaosre
puiourpetrothoelntd.e,pesits
mat e f
and the of $3,830,000, almost all of which is
t
greater part of this is un
der the head- .
upeolarger holdings of cheques
ing of depoeits not bearing interest, on other banks, which constitute the
abou
more b
'hunt, a
Hilda's
I w�
e
but
ore reluctantly giving up the
returning to the spot where
otor had been left."
ldn't mind his getting away,"
cl Durant. "I liked his courage,
do hate to face Mrs. Bunee with-
out Iser daughter."
,
"I understand." 'Hilda stood beside
her car with hini in silent •syrapathy.
"But you have dothing really- to re-
proaeli yourself for. You did every-
thing that any man would have
thought of doing," she insisted, °
He shook his head and bent forward
to start the engine. t •
"Did you really knot./ in the dark
that that was a cigarette easel" she
aseed.
"1-1 took a charism," he answered -
Her exultation seemed to embarrass
" "We have two cars to get. back
to oBstore'and only you and I to run
them," hebroke in quickly. "Will you
•talee the Wheel: of the other car and
I" follow in yours?" :
She . agreed With alacrity to this
separation, but drew up before the.
garage in the fleet town they entered.
"We must need gasoline by tis
tirne,".she announced.
Keep Them Smiling
At last he bent a little nearer to her
along the iron rail, and. whispered a
question. "Couldn't you see?" she
asked, "I cared for you in the very
beginning,' when it seemed impossible
that you could be *hat WOUNTS proved
you are Couldn't you see, Aladdin?"
. "It is you who have the wonderful .
eyes," he retorted, gazing into them
bullyingly until they dropped. "No,
you are marrying me for my title," he
insisited.
"And you me for my money," she
twinkled.
. They laughed, their eyes brighten -
Durant deSeended .from the Other- in into little fires at their amazing
car and hurried after her. ,
"Would you mind if I engaged a
man to drive your 'ear so that we can
understanding.
"Yoti haven't told me yet why—why
you were so anxious notto be known,
she said at last.
"Shall I? It wail such a young and
-silly reason, but it kas turned out so
wonderfully," he added as his eyes fell
on her,
•
all be together?" hetiwked.
She blushed, a little. "I 'hde al-
ready arranged for that," she said
turning away. .
Shortly they discovered that they
were famished; and stopped at the first
,
eountry nm to ettack its larder of cold . "Tell me—instantly!" she command -
,food, They made weak - holiday -end ed. •
jests at it; they were frankler, arrant- - • He smiled and moved a little near -
illy until the proprietor regarded er to her. "1 was -a younger son, un-
•
them from a distance evith heavy dis-
approval, e
Afterward, On the way Imine, alone
together, they became strangely silent
and conscious.. It was then to relieve
the strain, that Hilda told him the his
likely ever to inherit the title," he
explained, "and` out of favor with my
father because ti seemed alwaess te be
getting into difficulties. While my
• thee lived she was always protect -
in me, hidtng the perfectly harmless
toey of the opal pin. things 1 did untilmt made my father
"Strange," he mutered. "I wore it jealoes, made htmcomplain that she
the night that man Mink called on eared more for me than for him.
me. He turned pale when he saw it. Perhaps she -did. At any rate, that
The "Welcome sign still hangs high on the doors of the
Salvation Army Hostels. Help them to keep. it there!. While
our soldiers have need of the comforts—spiritual as _well as
bodily--1DON'T shut the doors in the boys' faces—Keep them
smilmg1
The Salvation- Armyappeals for a Million Dollars for the
boys who won the victory. Tills is the ,first time the Salvo.- -
,tion Army has made a general appeal...for its Work. We urge
you no, for the sake of the soldiers, and as a•VITAL factor
in the solution of Canada's Reconstruction problems, with
the Homecomiug 6f her boys, to give and to give liberally!
Our men in Khaki may not all 1be home for another year.
While there is a company of Canadians in uniform over there
or over HERE, there is work for the Salvation Army Lassie.
The weary waiting and the relaxed discipline spell dangers
-
that MUST be guarded against A happy 'smile and a com-
fortable body help to keep trouble at a distance. Do not
let the Hostels shut for lack of funds!
•
The Salvation Army
on Dollar Fund
January 19th to 25th
"Fiist to Serve—Last to Appear
A WORD ABOUT THE HOSTELSI—Have you ever been
inside a Salvation Army Hostel? If not, ask a Waned
man about the Hostels in Paris, London, Toront6, Hamilton,
or any others that he had stayed in vier HERE.
Let HIM tell you about the REAL beis,.the home cooking,
the fried eggs, and hot coffee—and hot baths. If he knows
you very 'well, he may give you a hint about .the spiritual
comfort the Soilv.ation Army Lassies give these men far from
home and all it -Timms!
SALVATION ARMY MILLION DOLLAR FUND
COMMITTEE
Headquarters:
- *Mail your subscription 4W
1
Treasurer Toronto and Ontario: SIR-EDWEIND WALKER
Toronto; Out
Treasurer New Brunswick:
JAMES M. CHRISTIE
Bank of Commerce, St. John,
mN,B.
Treasurer Nova Scotia:
DONALD liffecGILLIVRAY
• Bank of Commerce, Halifax, N.S.
or to
*,COMM/SSIONER RICHARDS,
14 20 Albert St., Toronto
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