The Lucknow Sentinel, 1949-12-01, Page 7THTJRS., DIC. BER. 10t; 2.1040;•
'L° UOKNOW • SENTINEL, UGKNQWR O •TA UO
' PAGE SEVEN,
SANTA LUCKNQW BOUND, TO
REACH OARE. 'DECEMBER • 10
Santa Claus •' is .heading this
way • and is scheduledto arrive'
in Lucknow a Week rfror. Satur-
•day,; December 10th.. He'll he•here
'.in person 'early that afternoon to
take part in the parade, and will.
_.,take ..in. the show .._The, mPlay-_
house and .,help pass .: out the
treats to all the children,
But •we're expecting, a Santa-
graan from the Old• i ent. an* dray
. Wea eso rnpre about this `, next.
VANCE A, STATIA, former pub --
Usher of, the T, eeswater . News,
died at Trenton.'Be• was in 'his
Blst Year, - and had :'spent sixty-,
four years of his life as a printer
and. pwblisher.
DECLINED PRESIDENCY, 01?
BRUCE; POLIO CHAP.TER.
Mr. Nelson 'E, Bushell;, was . re-
cently •informed that he had. been
elected chairman of $the Bruce
County Chapter of the ,Canadian
Foundation for Poliomyelitis. QVir..
Bushell, however, felt that he was
unable to accept the appointment
arid.; notified the Voilndatign
that, effect,;
The eIection Was '. by a ,nail
ballot. of .fellow citizens of Bruce
County 7 who by their contribu-
tions to the fund are members of
the Canadian Foundation, which
has as its • purpose , the fight
-against poliomyelitis.
Zhe Foundation will• launch the
Canadian March . of Dimes in
January, .on 'behalf • of this work,
and IS taking steps to . set up .a
•Chapterin Bruce County.
Other officers of this Chapter
include, J. ' F: Cove, Walkerton,,
'secretary; A. C. Marnoch, South-
ampton, treasurer; R. H. Martyn;
Ripley; H. R. Magwood, Kincar-
dine, Miss , Elsie Sym; Wiarton,
and P, :Stuart MacKenzie Walk
erton.
//
IS
•
�sa:4�x\Cs •�TMI� r
0-0,LLION-.SOLL:A
' 1•:•
Evety one of;• the . B ,of 1't'S •1,?00 000 ';depositors has:: shared in the
writing of it:
,'1
Simple and straightforward; ittells hovcw theawo billion -dollar resources
of=•Canada's First -Bank- have; been -put to work Ihow these -resources -
born of the deposits of. our .customers.,— are helping.; Canadians in every
Walk of life to make a better future for themselves' and. for Canada,
• You can see these dollars
at work everywhere ... B' Of.M::.
commereial.loans are
,at :the, highest', year
end figure 'in the his
tory of the•Bank.
•
04,
or
WHAT THE Bof M HAS .TO MEET ITS OBLIGATIONS:.
CASH: The B of M has cash in its vaults: and money
'on`deposit with 'the , Bank of Canada.. amounting. to
MONEY in the form of notes. of ::cheques on an
',deposits with other banks
INVESTMENTS: The. B of M has: over a billion' dollars'.
invested in high-grade government bonds and other •
public securities, whwh have a ready, market. Listed
on the Bank's books.,at a figure not greater that; thrift..:
'.. market •value, they amount to
• The 13 of M; ,'has other bonds,' debentures; and '.
stocks, a substantial part- •of which represents 'assis-
tance to' .industry for plant development •.in thepost-
war: period. •These :investments are carried at
CALL'LOANS' The B of M •has Call loans which are
• fully protected by quickly saleable. securities, These
loan`s amodnt to- . •
QUICKLT AVAILABLE •RESOURCES:. The resources listed above, '.
which . can quickly' be turned into cash, cover 7B% of ,all °,that '
;the Bank owes toahepublic. These "quick assets"' amount to $1,602,090,910.01
229,296;309.15
156,733,757.58
.1,044,968,842.21
122,917;348.16
48,174,652.91
,LOA?iS:.During the year, 'many milUons ,of
..dollars
',have been lent to business: and:industrial .enterprises
foiproductioa of -every ,kind=to fathers, fishermen,
r lumbermen and ranchers -oto citizens in all wallas of
lite, and to Provincial and' -Municipal. Governments
and.SthoaDistr'cts. These loans,, now at the highest
"" year=end figure,in the Bank's . history, _stand. at',
DANK BUILDINGS: ,In 'hamlets, •"Villages, towns. and.
large, cities from• coast. to coast the 13 of M serves
its customers at• 541 offices. The value of the build-
. ings owned by•the Bank,'together with furniture and
equipment, is shown, on, its books ,at .,
OTHER ,ASSETS: These chieflq represent liabilities of.
customers for commitments made by the Bank. on.,
their behalf, covering foreign and domestic,. trade
transactions ,
TOTAL' MEET
IT RESOURCE 3 WHICH.THE B of M H�F15 Tb.M •. ,$2,139,GSti,2G3.44
OBLIGAT ON
487052,653.41.
• 17,850,169.22.
32,394,530.80
WHAT THE ;B bf M OWES;. TO OTHERS:
Derowsi While many business firms, manufacturers,:
merchants, farmers, and people in every type, of buss .' •tv
_s �_
ness ,have, substantial deposits' with the' B of M,.• the- -stA t `-
larger part'of the money on deposit with the! Bank is•'�1d. u'.
the savings of well over a Million .private citizens '
•The total of" all dej�ositt is'•
BANK 'NOTES:.Blof•M bills in circulation, which are
payable on presentation, amount to • :
OTHER LIABILITIES: Miscellaneous items; represent-
, ing mainly commitments' undertaken by the• Bank
on behalf of'customersin their foreign"anfl domestic
trade ''transactions .,, a • . '
TOTAL OF WHAT THE •.B of M 1OW,ES ITS DEPOSITORS
,•AND OTHERS''., .
TO `' PAY •IT ;OWES, THE B of At ` HAS ' TOTAL 'RE-'
SOU CES, AS 'HOWN ON ' THE 'LEFT " SIDE OF THIS
STATEMENT, MODNTING TO; .•t ... 2,139,688,263,44
WHICH MEANS s HAT THE, B of'' M HAS RESOURCES; °
OVER AND ABOVE WHAT IT.OWES, •AMOUNTING TO $ 8-
5,155,810.61
'$2,019,142,697.65
3,621,916.00
31;767,8'39.18:,.
2,054,532,452:83
• •
This I gure✓of $85,155,810°61 is made up of money subscribed by the shareholder"a
and, to ,some extent, of .profits which have_from, time, to time been ploughed back into, the;
' 'business' to, broaden the Bank's, services ,and to give added protection for the depositors.
EARNINGS — After paying ali overhead expenses, including staff
salaries,;bonuses:and contributions' to the Pension Fund; and ;after
making provision 'for contingencies, and: for depreciation of Bank
premises; furniture arid equipment, the •B=of24 reports earnings ;,
for the twelve months ended October 31st; 1949, of . $
Provision for 13Orninion Income Tax and Provincial Taxes .
Leafing. Net Earnings of .... .•
• ' This amount teas distributed as follows:
Dividends'to Shareholders . ;, . $ .<3,600,000.00•
Balance to. Profit 'add Loss Account':: 2,216,56,97
•
•
9;221,569.97
'3,405,000.00
$ 5,8:16,569.97-
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