The Exeter Times-Advocate, 1933-11-30, Page 7Simple Rules
Prevent
HEADACHES
The best way—in fact the only eafo, sensible
way—to avoid headachee is to obey Nature.
Live a moderate life. Eat moderately, Sleep
sufficiently. Get lota of fresh air, exercise and
recreation. Avoid worry. And, once or twice
each week, enjoy a refreshing, ploaaant-taeting
glaae of Andrews Liver Salt.
Thia loot rule is extremely important. Even
with the meet careful living and the moat regu
lar physical habits you may still suffer from
the effects of tncomplels elimination of body
wastes. Thousands of people suffer from this
' cause without suspecting it. Occasional use of
Andrews helps your eliminative organs to
function completely; hence Andrews helps you
to new energy—keeps you fit—and corrects the
conditions which cause headaches, indigestion,
general body weariness, and the '‘little ills.”
Begin following these simple rules for health.
Take Andrews once or twice each week. Then
you will escape those headaches which bother
you so often now—and you will enjoy the
pleasure of vigorous good health.
All druggists sell Andrews Liver Salt. In
tink at 35c and ftOe. New, large bottle, 75c.
Sole Agents: John A. Huston Co., Ltd.,
Toronto. I
■Once they accept the position of au
ditors are under obligation to per
form their duty in a reasonably care
ful and skillful manner, but in con
sidering their libality for defalca
tions by the treasurer the court will
take into account their experience
and remuneration in determining the
degree of skill that should be exer
cised by them in the performance of
their duties. In the Renfrew case
Mr. Justoe Wright exonerated these
auditors, and on appeal by the coun
ty his'decision was confirmed by the
THE; EXETER TIMES-AQVOCATE THURSDAY. NOVEMBER 80, 1038
Duties of Treasurers
and Auditors
In a recent, issue of the Chesley
Enterprise, the editor of which is
somewhat of an expert in municipal
affairs, the following article referred
to a matter
this county:
The recent
treasurers of
frew and Huron, involving in
case of Renfrew a shortage of
$117,000.00 and in the case of Hu
ron over $11,000.00, have been the
subject of much newspaper comment
and the proceedings in each case
have been wateched with interest by
municipal councils and officials and
by the taxpayers in general through
out the Province. The startling dis
closures in these cases will no doubt
result in the attention of the Legis
lature being directed at its next ses
sion to amendments to the Municip
al Act with a view of more fully pro
tecting the municipalities- from loss
through the misconduct of incom
petent or unscrupulous officials.
As the law now stands every muni
cipal treasurer is required to give
such security as the council directs
for the faithful performance of his
duty, the security to- be a bond of
a surety company, unless the coun
cil by resolution authorizes a bond
by personal sureties. It is the duty
of the council, at a meeting held not
later than the l'5th day of February,
in each year, to require the produc
tion before it of every such bond to
see that the same is kept renewed,
or if the bond is by personal sureties
to see that such sureties have not
died since the bond was given or
that t'heir financial standing has not
been impaired in the meantime. This
requirement of the law is- one that is
more honored in the breach than in
the observance of it, for in the min
utes of local councils as published
we rarely see a report of the treasur
er’s bond being laid on the table
and its validity considered by the
council. While it is also a statutory
duty of the auditors to report yearly
on the condition and sufficiency of
the security of the treasurer the Act
specially states that this shall not
relieve the council .from the perform
ance of their duty as above mention
ed. It is also the duty of the coun
cil to prescribe by by-law the proce
dure to be followed by the treasurer
in the receiving and paying out of
the municipal funds, ana to aeslgn-
ate the officials by whom the che
ques or orders are to be signed—
usually the head of the council coun-
■ tersigns the cheques issued by the
treasurer. Having arranged all these
matters and having appointed two
or more auditors as required by sta
tute the council has performed its
whole duty, and the safeguarding
of the corporate funds thereupon de
volves on the treasurer and auditors,
on whose honesty and efficiency the
taxpayers must then rely.
The Municipal Act does not speci
fy any particular qualifications for
auditors, except that no person who
was during the proceeding year a
member of the council or had dur
ing such year any contract or em
ployment with the corporation shall
be appointed. The council may there
fore appoint a firm of chartered ac
countants or any persons whom they
may deem qualified for the work.
of present interest in
defalcations of
the counties of
the
Ren-
the
over
quired to be disbursed on short no
tice the reeve is generally available
to sign cheques. In the case of the
county, the matter is different—t'he
warden, except during sessions of the
county council, is generally many
miles away from the treasurer's of
fice and if the sheriff calls- on the
treasurer with a Jury pay list of list
of fees payable to Crown witnesses
the treasurer is by statute required
to forthwith pay the amounts called
for; the jurors and witnesses must
have their fees in cash before leav-
Court of Appeal, the court holding1 ing for their homes. It would be
that while an auditor is bound to be expensive to have the warden attend
on the alert, he is not bound to- ap-1 all sessions of the courts in order
proach the task of anditing in the
belief that there is concealed fraud
which he has to discover, and in any
event the kind of audit given was
that which the county paid for.
The proper auditing of county fi
nances is a difficult and intricate
undertaking for men not specially
trained in accountancy. Not only is
it the duty of the county auditors to
see that the correct amounts have
been paid to the proper persons and
vouchers produced therefor, but they
required to be familiar with the Mun
icipal Act, and many other statutes,
and also with the by-laws and pro
ceedings of county council in order,
to ascertain that the treasurer has
been authorized to make such pay
ments. This
nection with
made by the
difficult task
receipts. How
verify what moneys the treasurer has
received or should have received? In
large counties such as Bruce, with
thirty-one local municipalities, the
local treasurers from time to time
forward the county treasurer pay
ments on various accounts—county
rates, cost of maintenance of indig
ent patients, costs of highway con
struction work, and other payments.
Here the Municipal Act helps out.
Section 23 6 provides as follows:
“Every treasurer, on or before the
7th day of January in each year,
shall transmit by registered post to
the head of every municipality to
whose treasurer he has made any
payment during the year ended on
the 31st day of the next proceeding
December, a statement signed by him
setting forth every such payment and
the date of it.
“The head of the municipality
shall cause every such ■statement re
ceived by him to be read at the next
meeting of the council after the re
ceipt of it. and to be delivered to
the auditors before the audit of the
accounts for the year to which the
statement relates.”
But in addition to such payments
received form the local treasurers
the county treasurer receives many
payments from other sources, such
as Government grants for education,
highway construction, administra
tion of justice, and payments from
private individuals who have deal
ings with the county as in the case
of moneys paid to redeem lands sold
for taxes, the amount of license fees
the amount paid by paying inmates
at the house of refuge and other such
payments. Here is where the audi
tors would have to be on their guard
if they had any misgivings as to
honesty of the treasurer. In
county of Renfrew t'he auditors as
sumed that the entries of cash
cepits in the county treasurer’s cash
book represented all the money he
had actually received, whereas by
concealing certain of the payments
he had received from time to time
during a period of six years he had
misappropriated to himself county
funds to the amount of over $117,-
000.00'.
In the. case of the defaulting treas
urer of the county of Huron the me
thod of procedure was different and
more easy of detection ... It ap
pears that in the county of Huron
the bylaws authorized the treasurer
to issue cheques over his own sign
ature alone, without t'he same being
countersigned by the warden, and
this raises the question as to how
far this lack of countersigning
should be allowed to go.
In towns and villages, and even
in townships, it is quite practicable
for the council to enact that all che
ques be signed by the reeve and
treasurer, as when moneys are re-
to sign cheques for jurors and wit
nesses. There are many other cases
in which the treasurer is required by
statute to pay out moneys forthwith
—books for the Registry Office, Di
vision Courts, certain officials of the
courts on the certificate -of the in
spector- of legal offices, wolf bounties
on the production of wolk skins, in-
suance renewal premiums and other
instances might be mentioned. It
would therefore seem reasonable
that in such cases the county treas
urer must have the right to disburse
county funds on cheques bearing his
own signature.
Severe Pains in His Back
I
Mrs. Errol Hamilton, R. R. 1, Cataraqui, Ont.,
writes:—“My husband had been suffering, for a whole
year, from severe pains in his back and they were so
bad at times he could hardly move.
He tried many different remedies, but got no relief.
I was told to get Doan’s Kidney Pills for him, which
I did, and he has never been bothered since, and his
kidneys work fine.”
For said at nil drug and general stores; put up onTy by
The T. Milburn Co., Limited, Toronto, Ont.
is their work in con-
auditing the payments
treasurer, but a more
is the auditing of his
are auditors to
the
the
re-
HURON OLD BOYS
RE-UNION AT REGINA
E, O. Walker was elected presi
dent of the Huron Old Boys’ Asso
ciation at their annual reunion, re
cently at the King’s Hotel, Regina.
Other officers are, honorary presi
dent, M. E. Gardiner; past president
. S. J. Latta; secretary-treasurer, J.
i G. Gardiner; first vice-president,
i Mrs. J. C. Scott. Addresses were
■ given by S. J. Latta, Mr. M'cMiurchie,
E. C. Munroe and Mrs. H. G. Hicks.
■ Greetings from Bruce county were
■ brought by W. G .Yules and from
Wellington county by P. G. Ward
The guests were received by Mr.
and Mrs. S. J. Latta, Mrs. J. B. Shaw
■ Miss Lillian Hodgert and A. E. Hod-
.gert.
Cards were enjoyed for the first
part of the evening and an old-time
dance followed. Refreshments were
served,
Mr. Latta, the retiring president,
■gave a most interesting account of
the early history of Huron County.
He also traced the political and edu
cational history of the county, and
the work of Dr., Egerton Ryerson, in
regard to education in Ontario'. The
counties, their size and how they
were named were also outined by
Mr. Latta. Amusing tales of the first
schools and t>he methods of teaching
were told. Mr. Latta, felt, however
that in spite of their many defic-
ipnees, these old methods developed
in children individual initiative,
hard and rigid morality and habits
of work.
'The people of Old Huron County
lived off the farm and out of the cel
lar. They may not have been edu
cated in the modern sense, but they
have plenty of what is called “horse
sense.”
The speaker showed how the les
sons learned in the east by the pi
oneers could be applied to life in the
west.
Greetings were rea,d from the Tor
onto Huron Association which was
also in session, at the some time. S.
iSwayze led community singing and
Miss Teeka Hotham. of Strasbourg,
played an instrumental number.
In charge of tickers and registra
tion were Mrs. Paulin, Mrs. E. C.
Munroe, W. Eddy, Mr. Ross and J.
G. Gardiner.
The guests who registered were
Mr. and Mrs. Donald Calder, Mr. and
Mrs. E. C. Munro, Mr. and Mrs. M.
C. Ross, Mr. and Mrs. T. A. David
son (Milestone), Mr. and Mrs. J.
H. Hood (Pense, Mrs. D. J. Howe
(Pense), Mrs. H. MacLean, Mr. and
Mrs. H. G. Hicks, Mr. and Mrs. A.
Elliott (Lumsden), Mrs. S. E. Hodg
son, Mrs. Nellie Caldwell Detweiler,
Mr's. R. M. Lindsay, Mrs. Ety, Mr.
and Mrs. W. G. Johnston (Miestone)
Mrs. W. J. Cooke, Mr. and Mrs. John
G. Gardiner. Mrs. G. F. Blair, Mr.
and Mrs. John Balfour, Mr. and Mrs.
A. W. Musser, Mr. and Mrs. P. Coop
er, Mr. and Mrs. A. Pounder, Mr. and
Mrs. A. H. Schnell, Mrs. M. Carmi
chael, Mr. and Mrs. W. J. Aillsoil,
Mr. and Mrs. Peter Strang, Mrs. C.
V. Gladwell, Mrs. Don Fraser, of
(iStrasbourg), Mrs. Wm. Etty, Mrs.
G. Hobkirlc, Mr. and Mrs. J. C. Scott
Mr. and Mrs. W. Mooney, (Grand
Coulee), Mr. and Mrs. E. P. Paulin,
Mr. and Mrs. W< Au Sclater, Mrs.
Hammond (Grand Coulee), Mrs.
fiherritt (Pense), Mr. and Mrs. J. B.
Shaw, Mr, and Mrs. J, H. Mooney,
Mr, and Mrs. Joseph MacMath, Mr,
and Mrs. Jas. McConnell, Mrs. E, O.
Thompson (Rowatt), Mr. and Mrs.
J, A, Glen, Mr, and Mrs, Grant Wad
dell, Mrs, D, McCutcheon, Mr, and
Mrs, g. McCutcheon (Gray) and Mr;
presentation, in easily understandable form,
of the ^Bank’s
ANNUAL STATEMENT
31st October, 1933
LIABILITIES
LIABILITIES TO THE PUBLIC
Deposits.....................................
Payable on demand and after notice.
Notes of the Bank in Circulation ;
Payable on demand.
Bills Payable . . . . x
Time drafts issued and outstanding.
Letters of Credit Outstanding
Financial responsibilities undertaken on behalf of customers
(see off-setting amount [x] in "Resources”).
Other Liabilities .......
Items which do not come under the foregoing headings, in
cluding $9,000,000 advances from the Dominion Government
under The Finance Act
Total Liabilities to the Public .
4
$641,346,710.12
• •
LIABILITIES TO THE SHAREHOLDERS
Capital, Surplus and Undivided Profits
and Reserves for Dividends ....
This amount represents the shareholders’ interest in the Bank,
over which liabilities to the public take precedence.
Total Liabilities ......
RESOURCES
Tt> meet the foregoing Liabilities the Bank has
Cash in its Vaults and in the Central Gold Reserves .
Notes of and Cheques on Other Banks
Payable in cash on presentation.
Money on Deposit with Other Banks ; ; ;
Available on demand or at short notice.
Government and Other Bonds and Debentures. ;
Not exceeding market value. The greater portion consists
of gilt-edge securities which mature at early dates.
Stocks .........
Railway and Industrial and other stocks.
Call Loans outside of Canada . . ; ; ;
Secured by bonds, stocks and other negotiable securities of
greater value than the loans and representing 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 ......
Prime drafts accepted by other banks.
TOTAL OF QUICKLY AVAILABLE RESOURCES .
(equal to 71.15% of all Liabilities to the Public)
Other Loans ........
To manufacturers, farmers, merchants and others, on condi
tions consistent with sound banking.
Bank Premises .......
Three properties only are carried in the names of holding
companies; the stock and bonds of these companies are en
tirely owned by the Bank and appear on the books at $1.00
in each case. All other of the Bank's premises, the value of
which largely exceeds $14,500,000, appear under this heading.
Real Estate and Mortgages on Real Estate . ;
Acquired in the course of the Bank’s business and in process
of being realized upon.
x Customers’ Liability under Letters of Credit
Represents liabilities of customers on account of Letters of
Credit issued by the Bank for their account.
Other Assets not included in the Foregoing . ;
Making Total Assets of . . . . ; ;
to meet payment of Liabilities to the Public of
leaving an excess of Assets over Liabilities to the Public of
t
PROFIT and LOSS ACCOUNT
Profits for the year ending 31st October, 1933 .
Dividends paid or payable to Shareholders
Provision for Taxes, Dominion Government .
Reservation for Bank Premises . . . .
Balance of Profit and Loss
Balance of Profit and Loss
CHARLES B. GORDON,
President
33,819,807.50
258,578.04
6,151,280.54
10,642,442.25
692,218,818.45
76,317,090.20
25,334,859.87
316,967,375.69
514,911.33
36,354,280.98
7,607,169.32
111,293.01
492,526,984.90
251,885,262.61
14,500,000.00
1,732,750.77
6,151,280.54
1,739,629.83
768,535,908.65
692,218,818.45
$ 76,317,090.20
$3,060,000.00
508,558.81
100,000.00
$ 4,005,153.59
Account, 31st October, 1932
carried forward
W. A. BOG,
JACKSON DODDS,
Joint General Managers
***
CThe strength of a bank is determined by its history, its policy, its management
and the extent of its resources. For 116 years the Boni of Montreal has
been in the forefront of Canadian finance.
and Mrs. R. A. Robinson.
Misses Alice Brown (Lumsen', Ag
nes and Della Harvey, Edna Ring,
Reta McLeod. Lily M. MacArthur,
Ida and Etelka Hotham (Strasbourg)
Julia Clerk' (Pense), M. I. Duff, B.
Gemmel, Elsie McCutcheon and Mae
N. Glen.
Messrs. T. E. Love (Milestone),
J. W. Dayman, B. E. Dayman, Nor
man, MacMurchie, Or. W. Hoffman,
C. C. Cook, Wilf, T. Elliott (Lums
den), W. G. Yule, C. M. Hotham, G.
S. Howard, James Duncan (Pasqua),
J. R. Dinnin, (Abernethy), J. Ken
nedy, Sam, J. Latta, A. E. Hodgert,
James Eagleson (Milestone), Sam.
Swayze, E. 0. Walker, Dr. A. W. Ho-
them (Strasbourg), M. Carmichael,
E. G. Hogert (Winnipeg), W, David
son, L, B. Ring, W. Clark (Pense),
Harry Slierritt (Pense),
WATCH YOURSELF GO BY
“Say. what’s the use of taking
stock in all the things we hear? Why
rip the lining out of Jones and make
Smith look s0' queer? You cannot
always tell ,my boy—perhaps it’s all
a lie. Just get around behind a tree
and watch yourself go by.
“You may find things look differ
ent; the crooked paths more straight
that Smith is not the only one that
sometimes stays out late. Perhaps
your wife’s own husband sometimes
get awry. You’d better iget behind a
tree and watch yourself go by.
“In business, as in pleasure, or in
the social life, it doesn’t always pay
my boy, to let yourself run rife. So
try to do your best for these who in
your pathway lie, and sometimes go
behind a tree and watch yourself go
by/’
Thomas Alderson, of West Wil
liams, dropped dead at his home af
ter eating a hearty meal. .Dr. Geo.
W. Racey, of Parkhill, was summon
ed. After investigation it was de
cided that no inquest was necessary
death being due to natural causes.
Surviving are his wife, one son. and
five daughters.
A former resident of Pankhill, John
H. Laughton passed away recently
at his home in London in his 74 th
year. Mr. Laughton same to Park
hill in 18810 where he conducted a
grocery store business which is now
run by his son Mr. F* V. Laughton.
Deceased was president of the West
ern Ontario Commercial Travellers
Association and many other offices.
Surviving are five sons and one
daughter,