HomeMy WebLinkAboutThe Huron Expositor, 1935-05-31, Page 5.4
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Grace Bradley and Brue&Cahot in "RED HEAD'?
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"GIRL OF MY DREAMS"?
S(arring Wing Holloway,' Eddie l'sle00,14 AlarY Carlisle "
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•:NEDni THURSDAY, F DAY, St URDAY
Wallace, Beery in "TUE 1VITOBTY BARNLIN°
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at. ad HolidaYer 4 pga6,TIN:. *tork.pightly,-1$1) i40.1..
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INVESTMENTBLE
(Continued frOm Page 4)
It is, therefore, customary to em-
body in the; bonds a eetital that the
proceedings are regular, that the in-
debtedness is binding, that the tetal
indebtedness of the municipality' does
not exceed legal limits and that the
municipality possesses the power to
levy the necessary tax.
In one :of my books of reference)
which was published in the country
(to the south of us, it is worthy to
note that they have, when referring
to Canadian cities, seen 'fit to state
that "there is a marked absence of
graft."
, lin Corp:emotion finance, bonds re-
present fixed and tangible assets, pre-
ferred stock represents current as-
sets and common stock represents in-
tangible values, excess earning pow-'
er and hopes of the future.
The usual denominations of bonds
are $1.00 $400, and svloa. It is urg-
ed in favor of bonds ,of the $100.00
denorhination that they promote
THE McKILLOP MUTUAL
FIRE. INSURANCE CO'Y.
BEAD OFFICE--SEAFORTH, ONT.
• OFFICERS:
Alex. Broadfoot, Seaforth - Pres.
James Connolly, Goderich - Vice -Pres.
IYIerton A. Reid, Seaforth Sec.-Treas.
• AGENTS:
-- Finlay IVIcKercher, R. R. 1, Dublin;
John 'Murray, R. R. 3, Seaforth; E. R.
4. Jarmouth, Brodhagen; Jas. Watt,
33lyth; C. E. Hewitt, Kincardine; W.
J. Yeo, Goderich.
DIRECTORS:
William Knox. Londesboro; George
Leonhart, Brodhagen; James. Con-
nolly, Goderich; Alex. Broadfoot, No.
3, Seafoith; Alexander McEwing, R.
R. 1, Blyth; John Pepper, Brucefield;
James Sholdice, Walton; Thos, Moy-
lan, No. 5, Seaforth; Wm. R. Archi-
bald, No. 4, Seaforth.
- Insurance -
With the enormous increase in
auto accidents, you cannot atford'
to take chances. Let us protect
you. Rates are low in compari-
sotp with protection g i v e n.
Prompt service and payment of
claims. In case of trouble, the
Company's Agents through Can-
ada are at your service. Enjoy
your trips protected by one of
our Auto Policies.
Auto - Fire -• Wind
Conveyancing
Real Estate, Etc.
A. D. Sutherland
Phone 152.
MEETING} OF HURON
COUNTY COUNCIL
The next meeting of the Huron
County (Council will be held in the
County Council :Chambers, Court
House, Goderich, at 2 o'clock on the
afternoon 'of Tuesday, June 4, 1135.
All accounts, notices of deputations.
'applications and other important bus-
iness requiring attention at the meet-
ing, should be in the _hands of the
Clerk.,not later than Saturday, June
lat. ;
DATED at Goderich this sixth day
-1M4, 1935.
J. M. ROBERTS,
County Clerk.
3519-2
thrifte that they Wil4 lesgen theat-
,
traotion of "get-rieh-quick" echemes,
that they will lead to a greater com-
munity of interest between people
and capital and form an incentive to
industrial peece. Bonds may be pay-
able to bearer and such bonds. would
hate interest coupons attached. Such
bonds may he registered as to prin-
cipal. Bonds may be fully register-
ed, in which case the issuingeorpora,
tion remits the interest by cheque.
The price of gilt edge bonds de-
pends in part upon when it is to be
p -aid of and part upon the rate of
interest in comparison with the rate
ruling in the market. Of two bonds
which are equally secure,, one matar-
ink in two years and the ;ether' in
fifteen years, the latter will command
the higher price.
Like water, security v.aluer will al-
ways find their own levels. If the
security is not good and there is' any
doubt about the borrower being able
to pay his debts a high yield is a
will-o'-the-wis,p likely to lead to loss-
es df capital.
- Security
. There are many ;different kinds of
mortgage bonds and it is well for the
investor to fully understand the term-
inology in ;describing them. There
may be several mortgages on the
same property, as first, second, third
or prior lien or junlioe lien.
T:te various properties of a corpor-
ation such as a railroad, may be
mortgaged separately 6'0 that there
may exist divisional, ;bridge., terinin-
al, etc. General mortgage err first
conselidated mortgage bonds may be
created.
Bonds, may be put out to replace
previous issues,. These are known_ as
First Refunding Mtortgage Ronde or
Refunding Firstir tgage Bonds.
Please notice how th adjectives in
these titles are gro d inreference
to each other.
In the first instance, it might be
the first refunding of a second mort-
gage,'Wherea.s the latter is a first
mortgage bond refunded.
Bonds are retired in a variety,of
ways. They may be paid at maturity, called, redeemed by lot, or pur-
chased in the; open market.
. Stock
Stock is a written, signed and seal-
ed evidence of ownership in a corpora-
tion and a fractional claim to its free
aSsets and surplus earnings.
When stock is issued, fully paid
and non -assessable, the owner s not
liable personally for the debts of the
c'orporation except in the case of'
bank stock and sometimes trust com-
panies when the holder is liable for
double the par value of the stock.
Book stock are shares, ownership.
of which may only be transferred on
the b.o.oks of th S company and not by
the mere endorsement of the certifi-
cate.
Bank stock .and Consumers' Gas of
Toronto are instances of this type of
stock.
Stock is usually divided into pre-
ferred stock, ,common stock with a
par value or common stock without
par value. Preferred stocks are pre:
ferred as to dividends at the rate
designated and are usually preferred
as to assets. Dividends are some-
times cumulative but this feature is
no guarantee of the continuance of
dividends.
Tests of. a Good Preferred Stock
I. Increases in capitalization ex-
ep for acquiring new plants with
p ortionate Mem% in louiness
should arouse doubts.
a. Earnings available for prefer-
red dividends should be about double
dividend' requirements.
3. In the case of a company harv-
ing a bonded debt, these earnings
should 'be more than double.
4. Working capital, except in
years of .depression, should show an
increasing tendency.
5. These increases should not be
regarded as genuine unless they are
reflected in the prices of the com,oare
ies securities.
C. 'Bonded debts should net e any
eyere exceed 50 per cent. of th- ag-
gregate market value of outstanding
securities and where they exceed 35
per cent. earnings on the preferred
stork should 40 exceptionally large.
Tests of good common stock are
the tests of administration and may
be divided into three categories.
The appropriateness of the proper-
ty and the physical processes ern-
;
rie
SAVE
MONEY on Poultry Feeds
Dr. Roe's Growing Mash Concentrate $3.00
Mix 400 lbs. home-grown grains with 1 bag
concentrate and have a 15 per cent. protein.
growing mash.
Dr. Roe's Lay M sh Concentrate
0.A:C. Chick Sta r
O.A.C. Growing Mash
BARRED ROCK CHICKS
Just three more hatches—June 4th, 11th and 18th
At Special Low Prices.
Scott's Poultry Farm
PHONE 251-32., •
SEAFORFH, ONT.
$3.00
$2.60
$2.25
, A'Atitt4.i
• 'ee,
, taken tiivf
(tbe." 41.01,: typo. '{of
:411C1 :460* 3i°4 0,0 Ye'ar mon 04
•. 910,4PLic0; lout 'be etre and
Jgetbd, advice 'alit. InvestigOte
before blip:ding' and it 'Will salve.inanY
; headache.
is luaually unwise to invest in
ew corporations'. Some of the more
common ;causes of failure bf new cor-
porations are; abnormally heavy pro -
Motion mate, "4over estimation of pro-
fits, inadequate {provision to scrap old
and buy new equipment but of earn-
ings.
New corporadon.s are likely newly
married, gouplese They start but as
optomiSts (with 'no elothes to buy and
having little -experience with sickness
ancl when trouble and misfortune eome
they are unprepared to stand the
blow.
I do not propose doing ,more; than
merely mentioning that such things
as 'market movements; -accidental dis-
turbances, seasonal ;changes, cycle of
trade, statistics -of 'cps, steel trade,
car loadings, 'building, bank clearings,
etc., do exist and have a definite bear-
ing on this most intricate subject.
It is estimated that the public of
the United States is defrauded but of
over one hundred million: dollars per
ann,um, a tenth of the total bonded
debt 'of the country 'before the war.
It is well, 'therefore, to know some
of the danger ,Signels.
nt
Fraudulent prootions are children.
of the fraudulent promoter who, re-
alizing ,that moat investors are unin-
former or careless, has taken full ad-
vantage of that faet.
'Make haste slowly is a good mot-
to. It is well to beware of the sug-
gestion: "Do • it now";, "Telegraph
your order at once"; "You have no
time to lose." Telegrams and long
distance telephone- cells should be
treated with contempt and ignored.
Strangely enough, an opportunity
seems most attractive just as• it ap-
pears about to be .withdrawn. Tips
to buy a stook usually mean that
someone is anxious to Sell: -Rumours
are almost as bad and to illustrate
the point there is the story of the
oil well promethr:
Pointing to the rascals is andther
trick. If one's own reputation is
none too secure, it is stlpposed to be
an ant of shrewdness to assume the
appearance of virtue by cond'emning
evil with even greater vehemence
than the virtuous.
Beware the inside offer.
Bacon said in his Advancement -of
Learning: "The Italian thinketh
himself upon the point of being
bought and •sold when; he is better
usedi than he was wont to be without
manifest cause," "Distance lends. en-
chantment -to! the view."
(Lord Burleigh, advising his son in
the choosing a wife, said: "If thy es-
tate be ;good, match at h,6rne and at
leisure; if weak, far off and quickly."
Worthless stocks are often sold: on
the recommendation of well known
people who are deluded into giving
endorsements, even though they know
nothing of finance. One should not be
caught by the project of a company
ettetripting to guarantee dividends on.
its own securities. Dividends are
only payable ant of profits.
Some of the rules as outlined by
Herbert N. Casson in his series on
"How to Make Money Grow," are „as
follows:
' Buy only wh.at you know.
Never buy under 'pressure.
peculate en properties, not
Schemes.
Buy only what can be quickly re-
sold without loss.
Take your profits.
Ask your banker. e,
Buy out of season. •
•Boy the ordinapy shares of the
best company in the worst industry.
'Bacon says in bis essay on "Rich-
es": "He that resteth on gains cer-
t;e4e, shall hardly grow th great rich-
es, and he that puts all 'ripen adven-
ture doth oft tunes break and Come
to povertY; it ,is good, therefore, to
guard adventures with certainties
that may uphold 'losses."
I cannot cease my remarks without
a reference to mining and it will
only be a reference. Among all in-
vestments not anywhere are such
unfits obtained as in successful min-
ing. It is because mining is so good
and so profitable that there are many
who by .deceiving seek to gain un-
wbrthily.
'Lion President and fellow Lions, I
thank you for this opportunity of
speaking to you and for your very
kind attention to these rather ramb-
ling remarks.
fr
$e: 13 Tears,
WALTON
The Young People of Duff's 'Church.
Walton, ;put on a splendid program
in Nlonexieff on Sunday evening. Stew-
art Bryans was in the chair. Allan
McDonald read the ;Scripture lesson
and Mrs. Charles Cumming led in
,prayer. Miss Ethel Shaw gave an
excellent topic. Miss Mildred Sellers
sang a solo and Rev. C. Cumming
gave a splendid address on "Reading
For. Personality." The meet in g
ball at Ethel on Wednesday evening,
June 5th) at 6.30 p.m.
IlVfrs. P. B. Gardiner of Toronto is
visiting her sister, ,Mrs. John Buch-
anan this week.
Recent visitors in, the village and
vicinity::Mise Edith Ennis of Kit-
chener with her parents, 1V1r. and Mrs.
Fred Ennist; 'Mire. Moon' of Stevens-
ville -with Mee Annie Johnston and
other relatives in the vicinity; Mrs.
F. B. Gardinerof Toronto at the
home of +Mt and +Mrs, John Buchan-
an; tlVfIrs. *SAre.11s: of 'Toronto with Mr)
and (Mrs. Hugh Shannon; Mr. and
Mrs. William 'Miller, Miss Marguerite
Miller and Fred Brown bf Mitchell
With lMr. and 1VIre. F. IL Miller; Miss.
Laiera 'Manning of Kitchener with her
parents, {Mr, and Mrs. IL Manning;
Miss Serve 'Steles of Kitchener at her
home in the village.
1111r. ISammel' Forbes. returned Sun-
day from Seaforth. where he under-
went an ,operation several Weeks ago.
IVIIre. Frank is recovering nice-
afkillovringan irstVel'atinn* lin Clinton.
HOttgtal. • ' 4
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15,00 18.50
It is a long time since we were able to offer suck plie,
nominal values; such rare quality fabrics, snappy styling
and such fine tailoring.—Blues, greys, browns, tans,pe
cil stripes, checks, plain or fancy patterns and colors.
Sizes 34 to 46
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SPECIAL --Men's Flannel Suits
Plain greys or sand, alsolancy stripes and checks. Some.-,,
with two pair of pants. New summer styles, patch pock-,
-ets, plain or easy swing backs. All this season's newest
ideas. Sizes 35 to 42.
Price 17.5° t°
ew Summer Frocks
• A Rare Collection of the
Season's Newest Creations
3.95
New in Style. New in Colors. New Materials-.
Silk Piques. Novelty weaves of Crepe and
Rayons in the plain Pastel and Floral designs,
also the New Spots and Stripes. All sizes, 14
up, to 44. •
Special House Dress 69c
Made of good quality, fully guaranteed prints,
attractive patterns, good styles, cleverly trimmed
in full sizes and lengths. Sizes 16 up to 6n
44. DON'T MISS THESE. 7C
Boys' Wash Suits
Men's Underwear•
Stylish New Millinery
Women's Silk Hose
Clever new styles and color combina-
tions; well made; good quality. 50
Green, Blue, White, an
Fine Egyptian BalbrigganShirts or 50
Drawers. Sizes '34 to 44
New Outing or Sport Wear. Hats
Turban or Snap Front Styec. 59
Penman or Kayser; Chiffon or Ser-
vice weight. All the new Summer
Tan shades
75c
en's Dress Shirts
Guaranteed Prints,• full size Shirts;
neW patterns. All colors and sizes..
100
Children's Ankle Sox
Silk and Lisle, Silk Mesh, solid col -
51/2 to 101/2 25c
ors; some with fancy cuffs. Sizes
Men's Dress Pants
Cotton Worsted in Grey or Brown.
Neat stries; well made. Sizes 34 to
44
1.98
Women's Vests or Bloomers
White, Peach or Pink; Plain Lisle
Silk Stripe. All sizes or
25c
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t ,.• ,
110
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