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The Huron Expositor, 1935-11-29, Page 6Lo. SU Montrea1 Shows Gain '5 Millions in Deposits bets Increase to $792,772,872 — Liquid Assets at 33,314,811 Are Equal to 74.48 Pei,;. Cent. of Total Liabilities to the Public. DEPOSITS NOW STAND AT $676,944,866 'The confidence reposed by the pub- ti�*c cit large in the Bank of Montreal vs exemplified in an extraordinary de- gree in the Bank's annual statement for the year ending October 31st, just published. This shows deposits of $6761944,866, compared with $63U,i218.- 83'5 at th esame date last year, an in- crease of $46,000,000. sibs increase and a concurrent increase of $43,800,- 000in Government and other lii•gh- grade securities constitute the out- standing features of the statement. Liquid Assets (halve increased to $533,3'74,811. and are equivalent to 74.48% of all Liabilities to the public. •Clash in vaults and money on deposit with Bank of Canada stand at $82,- 711,6815, equivalent to 11.55'.' of pub- lic liabilities. • 1Hlolding's of government and other bonds and debentures amount to $361,769,848, as compared with 3317,- 936,912 a yetar ago, an increase of over $43,000,000. In keeping with the Bank's policy, the greater por- Call loans outside of Canada now stand at $18,835,238, down from $3:.',133,844. The decline may be at- tributed to the unusually low interest rates that have prevailed in the priii- cipal money markets of the world. At the same time call loans in Qa•n- a�ia have declined to $4,435,73ti from 5,399,65 7. Current Loans Lower While there have been reports of gains in :many lines of business, eur- rent loans have not shown a tendency to increase, with the result that loans to manufacturers, farmers and mer- chants now stand at $234,461,311, down fron, $2.3,477,041. This would appear ,to indicate that many sus-! torncrs have been able to finance the pre.s•ent increase in business fron, their own resources. WHY NOT GET INTERESTED ? (By Ray Giles in Reader's Digest) Perhaps the most unusual sight in Rockefeller Center in New York is $35,000 worth of window dressing in the two barbershops owned by Chas. De Zenller. In the windows and on the walls inside is a display of pic- tures of artistic and historical value —oil paintings by famous artists, pen and ink sketches, steel engravings, cartoons, and Japanese prints .— all about barbering. And there are rare barbershop items—a Persian barber's set, a handsome blue urn labelled "leeches" once used by a •blood-letting E iglish barber, ancient and unusual razors, 17 century charts showing 38 beard and mustache combinations, and other curios to the number of 350. It is the largest collection of 'barber- shop rarities in the United States, if •not in the world. Visiting a mu•seun, in Cairo years ago, Charles De Zentler saw a razor used in the days of the Pharaohs. Re- sembling an axhead, it :rade him re- alize the antiquity of his profession an•', that his field was rich in fascin- a u.g lore and history. He began to take his work more seriously and held his head higher, for he found that the arts of dentistry and barber- Ofsur- special interest is the continued sur- e -et; \‘ et both born in the of deposits to ex and `1 "'•' He decided to collect every - tendency• throughout the country, and, as a hire. 1,E could lay hand; on pertain - ton consists of gilt -edge securities result, total deposits have now gain - which m�atuae at early dates. I L to titi"li'314,360, fron, $630.218,835 The immediately available cash Is a y.ear`ago, re •e s :ted p cash re by on hand and money on deposit with the Bank of Canada of $82,711,635; note's of and cheques on other banks $27,614,596, and money on deposit with other barks of $37,764,6:31, e R MOTORING TO TORONTO HOTEL WAVERLEY HAS ALWAYS BEEN POPULAR WITH MOTORISTS BECAUSE OF ITS FINE ROOMS—TASTY INEXPENSIVE FOOD AND PARKING FACILITIES. THE GARAGE IS ONLY ONE MINUTE WALK. ATTENDANTS TAKE CARS TO GARAGE AND RETURN THEM WHEN RE- QUIRED. PLENTY OF CURB PARKING SPACE. Rates Single $1.50 to 53.00 Double $3.00 to $5.00 E. R POWELL. Pro. HOTEL WAVERLEY Spadina Avenue and College Street Write le, Folder h .informative Ott feature , cf the re- port is contain:LI in the section where the Bank sh tw-s that it has total as- sets of $712,772.572, with which to meet paynr.sn: of liabilities to the public of $710,107.779, leaving an ex- cess of assets over liabilities to the public of $76,665,093. Profit and Loss Account The profit and It• -s account shows earnings • slightly down from the previous year. Lt also indicates that the Bank's taxes to Dominion and Provincial Governments are in excess of 31.000,000. 'Pr ifit for the year amounted to $4,0017,302, against $4.101.024 in the previou.s year. From the profit. tax- es to Dominion and Provincial Gov- ernmentS required $1,002.089, leaving for distribution 33,005,21.2. Of this amount dividends to shareholders took 880.000. leaving an amount to be cirri^d t'„"war,d0' f $125.212. Thr r.et pi is of S3.CJ5,_12 were equal to 3.92 per cent. of capital, surplus and undivided profits. After provision for taxes and dividends, the balance •brought forward increased the bal- ance of profit and loss carried forward to $1.935,033. ing to the history- of barbering. He has spent $3.5.000 on his hobby, though the present value of his col- ' 1••';ion iS CJ11 S' . I ll e•1 ahs'. lnnr e But a remark he mate was far more sig- . men:., t.b,•ut barbering d-•wn through the He said, "I have always ih,i.lored how some people belittle their '.pork. The deeper I get into my profession the more interesting I feel ::, and my motive in making this j cullee ..:I, has been to elevate my call- ing." Incidentally, a further result tt. 1•_•en to make his shop nine pro- ' realer. To fall in live with your job and get the most fron, it, there is a sim- rie recipe: Get acquainted with it! Explore it. No job is so dull but that "1`. grows more interesting as one digs b,.-r.eath its surface. No work is so limited hut that delving into it will rc + cal far greater possibilities than arpcar on the surface. A salesman of insecticides get tir- ed of rattling off the same old selling talk. He decided to look deeper into his .subject. He began by reading abo :: the insects his product would kill. h • had a library- on en- ten:.t1� gy. He collected insects. Then 1'e mounted his specimens in a small case to carry on his business trips. He showed dealers the pests he was helping to extet•nuinat•e and just what damage ,they did. Other salesmen had no chance in competition with eeeasnesegeemeglEiNel WHEN THE HOTEL CLERK TELLS YOU HE HAS NO ROOMS ... AND HE STICKS TO HIS STORY . AND YOU HAVE TO START LOOKING FOR SOMETHING ELSE .... Don't blame the clerk. Resolve instead always to Long Distance ahead for accommodation. *Night rates on "Anyone” (station -to -station) calls NOW BEGIN AT 7 P.M. Me J. HABKIRK Manager • 1 s O p $ b e T b s ery m to h e h !s ie in P ev !t to et, gr tha G ru Go dis an sa on loo to ma be Ch ter hea mil des psi tele �t�en poo pro cam say t he ti m the how thin ma nett trad large esti men t to mor '.earn m well way the with t t clipp a b istr toni inte with prate but artis invert Up who that suits cloth ing Th fieri: vbca• point If th tion lear I0017 dent Ervle,r• him, fog ihe made metoariers feel that in using his inseebicide they ho hwaer ekerMeTulnao4ders . her insaaswomarhwyceells became absorbed in a study of their historical evolution. He has boosted his sales by parrying three clumsy medieval locks in his sample ease ; customers are fascinated by the in- teresting stories he tells about each one. The plumber's assistant veins is in- terested in more than wrenches and pipe cutters will find that civilization began with the introduction of plumb- ing. Without plumbing, terrible pestilences would still wipe out whole communities and peoples. A young man just starting with a rubber Will - !pally said, "Did you ever realize what would happen if all the rubber now in use suddenly dissolved? Every airplane would crash to the ground; every 'automobile would stop; no big fire could be fought effectively; many industries would collapse entirely." As he went on he pictured a -world in chaos through lack of rubber. If your work seems uninteresting, :make the discovery of just what would happen if glass, nails, newspapers, or whatever article you help to make or sell were obliterated. %le take for granted the romance of medicine, the rich backgrounds of law, the . absorbing development of crime detection, but working behind a soda fountain seems so prosaic, so lacking in possibilities. Let's see. William Hall advertised ice cream in 1786. and George Washington owned a crude ice-cream freezer, The soda fountain was patented in 1833, but for 41 years no one had enough im- agination to drop a scoop of ice ice cream into a glass of soda water! Ice-cream soda a w• as first made in Philadelphia in 1874. The sundae didn't came until 1897 when a drug- gist in •Ith•aca, N.Y., invented it. one Sunday to entertain customers who complained .that the bar rooms were closed. Cora Cola, Hire's Root Beer, and 'Welch's Grape Juice were all such simple ideas and launched on so little capitol that any enterpris- ng soda dispenser might have fath- ered them, Li ke !ba.rbering, many occupations grow more interesting when their history is known. The auctioneer's lag dates 'back to Re,e�se where a pear carrying a criins8h banner was tuck in the ground to mark the place f sale. In A. D. 193 the Roman Em - ire was put up at auction by the raetorian Guards and knocked down o Didius Julianus foe a sum that •ave the soldiers ,the equivalent of 1,000 apiece. Do you work in a brewery? It is elieved by some that beer was made arlier than bread; beer was drunk n Egypt at least 3,000 years ago. he Pilgrims brought materials for retiring beer on the Mayflower, and eon after landing they set up a brew- • Running an elevator Inlay seem onatonou's, but the elevator ..opera= r who studies the problems that ad to be solved to hoist his little age will get a knowledge of engin- eying that may carry him far. And e will find that crude elevators ex - ;ed in ancient times; that the earl- st American elevator hoisted flour 1850; that; in 1860 the visiting rince of Wales admired the first el- ator to be installed in a New York otel; and that eight more years had pass before an elevator was in - ailed in an office building. Probably no one 'ever focused eater interest on a single subject n a hardware clerk named Charles oadyear, The Aztecis vulcanized bber, but their sechet was lost. odyear, through unflagging zeal, covered a process of vulcanization, d •over half a century ago he fore - w many uses for rubber which are ly now being realized. A stranger king for him was told, "Go over Staten Island. When you find a n in a rubber suit, wearing a rub - r cap and rubber boots, he will be ar]•es Goodyear." Alexander Graham, Bell was so in- ested in trying to improve •the ring of his sweetheart that he not y invented a device that helps the f but incidentally discovered the nci•ples which made possi'bie the phone. Thousands of valuable in - tions have been made by ordinary ple so interested in the everyday blem.s of their work that ideas e out to meet them half way. An officer in a large corporation s, "Every jab offer:. a toehold on whole universe. From time to e every person should look beyond humdrum task at hand to see his work is linked with larger gs. Each of us is in reality 'a n of affairs.' The girl behind a ons counter is linked to fashion, e, invention, design. Seeing the r circle makes life more inter - ng and opens doors to advance - mentioned De Zem:ler's collection this executive, "That man got e interested in his work through ing its history," was his com- t,en"but his interest might just as have expressers itself in other s. Every job can be related to worker's proclivities. A barber an inventive mind can find pben- o think about—improvements fit ers, chairs, massage machines. Or ba m,ay be interested in Olean- -; that takes him inbo hair dyes, cs, lotions. Still another barber rested in the art of getting along people becomes not •only the tidal barbershop psychologist, doubles his 'business•. And the tic (barber becomes famous by ting new styles of ,headdress. in Montreal there was a barber added a • tailor to his staff so his patroms could remove their , and, clad in robes, have their inrg pressed while they were be - shaved." ere different approaches to bar- e may be applied to almost any :ion. T':ere are many starting s to ny job. e fire of curilbL ityber e and ist in magine- flames fahnes stbeadilly it will burn away cion i. De Zemier's collection is Exhibit A in a Mountain of evi- e that might be piled higher than est. Definitions of the giradee under wnht ih (eggs, poultry, cats •d and *VA l wiib aril v+ biles; !CZEJ.,. Chafing and kin Irritations quickly eetlitwed by D.�.€iFIAS:S'S and maple syrup, honey, butter, and feelb are solid is given in a small fold- er, easily carried in a woman's purse, issued by the Publicity and Eietension Branch, Donnierion Departan;enit of Ag- riculture, Ottawa, apd entitled "The Consumer's Guide on How to Buy Graded Foods." Stock oar inspectors of the Health of Animals Branch, 'Dominion Dg- partment of Agriculture, are 'main- tained at 28 railway centres thmtegh- out Canada. All stook cars arriving at or passing through these points are cleansed and disinfected when neeessary under supervision of these inspectors. Lime -wash, plus an ap- proved disinfectant, is used. During the fiscal year, ended March 31, 1935, the number of cars thus disinfected was 72,744. The most important item in Can- ada's imports from China from Janu- ary to June, 1935, was walnut kernels which represented 30 per cent. of China's total exports ($379,482) to the Dominion. • 14.402.TESTJ•P RlEcrnES Swiss Steak Select about 2% pounds of round sneak cut about 2 inches thick. Slprin- lele the steak (with tyg, cup of flour, 3 'bees$tobnfful off salt and • Ye teaspoon- ful of pepper. Pound thus into the meat with a meat Werner or potato Txnasheai. Turn the meat, and do the 'sample to the ,other side. Place two or three strips of bacon in the bottom of a balking dish or casserole. Place the meat over the bacon, and add % cup of water for stock to which has been added 1 bay leaf, 1 clove, and one -,half teaspoonful of oelery sa11t. 'Cover the dish and cooilt in a mod'er- a'te oven for one and a half or two hours. If necessary, add more waster during the baking. There should be sullieient liquid left when 'the cooking is finished to moisten, the steak and provide enough gravy. • Hamburg Steak, Plain Remove ouster skin, fibrous mem- brane and most of fat from the round and put through the steak grinder. Form into one large' coke not over one inch thick and .betel en well - greased broiler, or pan-broil in a very hot pan, using no fat. Season, dot with butter and serve immediate- ly. Poor Man's Beef Steak Cut steak from the top of the round IONEYi in uniform pieces for serving. Score the surface well with a sharp knife in different directions, turn and score the olther side. Sprinkle with ,salt, pepper, and dredge with flour. Try out, some of the fat trimmings in an iron frying pan and sear the surface of the steak quickly, turning over to sear the other side. 'When richly (browned, reduce the heat and cover with beef stock or bailing wa- ter, cover closely and let simmer un- til meat is tender.. Remove meat from pan to hot platter and thicken'. the li.qulor with flours Idirluted with cold water. Add more •seasonifrg, if necessary, and strain over the meat. Serve with baked potatoes. By this method such a cut of steak is ren- dered tender and very palatable. BANK OF MONTREAL Established 1817 c-4 presentation, in easily understandable form, of the Bank's ANNUAL STATEMENT 31st October, 1935 LIABILITIES LIABILITIES TO THE PUBLIC Deposits . •• Payable on demand and after notice. Notes of the Bank in Circulation •• ▪ •29,959,128.50 Payable on demand. Bills Payable • 353,011.79 Time drafts issued and outstanding. .. Acceptances and Letters of Credit Outstanding . 7,066,426.26 Financial responsibilities undertaken on behalf of customers (see off -setting amount Ex] in "Resources"). Other Liabilities to the Public . 1,784,347.07 Items which do not come'under the foregoing beading. Total Liabilities to the Public . . $716,107,779.68 LIABILITIES TO THE SHAREHOLDERS Capital, Surplus and Undivided Profits and Reserves for Dividends . . • • . $676,944,866.06 • • This amount represents the shareholders' interest in the Bank, over• which liabilities to the public take precedence. Total Liabilities• . $792,772,872.76 • 76,665,093.08 RESOURCES To meet the foregoing Liabilities the Bank has Cash in its Vaults and Money on Deposit with Bank of Canada . • Notes of and Cheques on Other Banks Payable in cash on presentation. Money do Deposit with Other Banks Available on demand or at short notice. Government and Other Bonds and Debentures Not exceeding market value. The greater portion con• sist; . of gilt -edge securities which mature at early dater. Stocks Railway and Industrial and other stocks. Not exceeding market value. • $ 82,711,635.13 • • • 27,614,596.16 • • 37,764,631.60 Call Loans outside of Canada - • Secured by bonds, stocks and other negotiablesecurities of greater value than the loans and repre.renting,moneys quickly available with no disturbing effect on conditions in Canada. Call Loans in Canada Payable on demand and secured by bonds and stocks of greater value than the loans. Bankers' Acceptances . • 139,252.54 Prime drafts accepted by other banks. TOTAL OF QUICKLY AVAILABLE RESOURCES . $533,374,811.14 (equal to 74.48% of all Liabilities to the Public) Other Loans. 234,461,311.20 "To manufacturers, farmers, merchants and others, on condi- tions consistent with sound banking. Bank Premises . . . . Three 'properties only are carried in the names of bolding companies; the stock and bond.; of these companies are en- tirely owned by the Bank and appear on the books at PAP in each case. All other of the Bank's premises, the value of which largely exceeds $14,500,000, appear under Ibis heading. Real Estate, and Mortgages on Real Estate Sold by the Bank . . 1,523,432.05 Acquired in the course of the"Bank's business and in process of being realized upon. x Customers' Liability under Acceptances and Letters of Credit . • . 7,066,426.26 Represents liabilities of customers .on account of Letters of Credit issued and Drafts accepted by the Bank for their account. Other Assets not induded in the Foregoing 1,846,892.11 Making Total Assets of• •$792,772,872.76 to meet payment of Liabilities to the Public of 716,107,779.68 leaving an excess of Assets over Liabilities to the Public of 76,665,093.08 361,769,848.49 103,872.95 18,835,238.07 4,435,736.20 14,500,000.00 PROFIT and LOSS ACCOUNT Profits for'the year ended 31st October, 1935, after making appropria- tions to Contingent Reserve Fund, out of which Fund full provision for Bad and Doubtful Debts has been made . $4,007,302.06 Less Dominion and Provincial Government Taxes . 1,002,089.49 $3,005,212.57 Dividends paid or payable to Shareholders • 2,880,000.00 Balance of Profit and Loss Account, 31st October, 1934 . $ 125,212.57 Balance of Profit and Loss carried forward 1,809,820.79 • • ▪ $1,935,033.36 CHARLES B. GORDON, President W. A. BOG, JACKSON DODDS, loin" General Manager; * 11► The strength of a bank is determined by its history, its policy, its management and the extent of its resources. ,Por 118 years the Bank of Montreal has been in the forefront of Canadian finance; �+:'��#t±'�rdifi' •iir'ti m �`1'� 1i Jig i4,, s:''.,ef5.Vf.uftlR?'�a ro5 nA �L.