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The Wingham Advance-Times, 1939-03-02, Page 3Thursday, March 2nd, 1939 .... ............. /1 * Quality Counts ZMost •SMMK TEA census has been taken, His plans call for a reduction in membership from 90 probably to 72. Italians Leaving Corsica Ajaccia, Corsica *— Italian circles on this French island, one of the ob­ jects -of Fascist agitation against France, said that a wholesale migra­ tion of Italians from Corsica would begin this wefek, This, it was explain­ ed, was the result of the recent decis­ ion of the Fascist Grand Council in Rome to repatriate all Italian emi­ grants. Says Kitchener Police Corrupt Kitchener — The Kitchener Police Commission promised a full investi­ gation into activities of the Kitchener police force after Aid. Joe Meinzing- er at a special session leveled against the force charges that included im­ morality, drunkenness,, corruption and gambling at all but nine members. He said Ke based his evidence on in­ formation supplied by citizens which he felt should be presented to the commission. Health to Decide, Says Hepburn Premier Hepburn flatly repudiated persistent reports that he was contem­ plating retirement shortly and at the same time denied assertions that he had already consulted his cabinet col­ leagues as to a successor. “I am de­ finitely going to lead the House dur­ ing this coming session and I will be here to' welcome their Majesties. Be­ yond that, everything depends on my physical condition.” 50 YEARS OF FRIENDLY SERVICE THE GREY AND BRUCE TRUST AND SAVINGS COMPANY OWEN SOUND WINGHAM ADVANCE-TIMES erlain’s declaration that the resources of either country would be put at the disposal of the other if vital interests were affected, Twp Brotherg Charged with Windsor Murder Toronto — Two brothers, both in custody on other counts, were charg­ ed with the murder of James Wind­ sor, bookmaker and North Yonge St. barbecue stand proprietor. Windsor was shot to death in his North Tor­ onto home the night of January 7th last. The accused, both jof Toronto, are Donald (Mickey) McDonald, 30, and his 19-year-old brother, Alexand­ er. Both reside on Poplar Plains here and were brought to North Toronto police headquarters by local officers. Mexico Turns Down German Trade Mexico City — Ambassador Jose­ phus Daniels of the United States an­ nounced Mexico has turned down a proposed trade of oil for 17 German commercial planes. 'SERVICES SAyiNGB !— 2% on deposits, withdrawable by cheque. INVESTMENTS-—On Sums of $100 and up in­ vested in our 5 year Guaranteed Investment Cer­ tificates we pay 3%%. These are legal for trust funds. LIVING TRUSTS-—To enjoy a carefree holiday, or devote your whole time to your business or pro­ fession, we will take charge of your investments, properties, rentals, etc., relieving you of the wor­ ries entailed. $2,333,795.10 Deposits $2,594,483.48 Bond Holdings $1,329,092,22 $1,533,600,96 First Mortgages ‘ $1,332,182.99 $1,349,037.754 WILLS & ESTATES—We act^ as Executors and Administrators of estates, and we would be pleas­ ed to discuss your estate problems with you. If you have been appointed as an executor of an estate and wish to be relieved of the responsibili­ ties and worries therein we will be glad to act in your stead. Total Assets $3,845,222.16 $4,210,843.43 Bombing Hong Kong a Mistake Tokyo — The Japanese foreign of­ fice announced that the bombing of a railway station within British Hong Kong had been explained as a “mis­ take” to the British ambassador, Sir Robert Craigie. It was said that For­ eign Minister Hachiro Arita invited Sir Robert to call and had offered an explanation of the attack, saying that one Japanese plane dropped a projec­ tile within the crown colony bound­ ary “by mistake.” Arita expressed re-* gret. SAFETY DEPOSIT VAULT—Boxes to rent af moderate rates. LOANS—On first mortgages and with good collat­ eral security. Cash on Hand and In Banks $183,753.35 We will be pleased to send detailed statement on request. Hungary Move to Smash Nazis Budapest — The Government'un­ dertook to smash the Hungarists, the leading Nazi party of Hungary and at the same time formally joined Ger­ many, Italy and Japan in thqir accord against International Communism. The ahti-Comintern pact was signed by Foreign Minister Stephen Csaky at a foreign office ceremony. DUCE’S HAND HOVERS OVER ALBANIA {!» ::: ill » , . • I i ’ uFmODERM »• • HOTELS • • •.!’<OTKVEMWDf !■ & |JM». thtone'to subdue Ins feuding subjects, Italian money was needed to finance his reign. &og-is shown with his bride Countess Geraldine Apponyt. Eastern Steel'- PRESTON ONT rAcriwiajr, Montreal e-t^ronto Chooser ratesW 2501 SlNCLtNQilKUffl * M ■ Will Reduce Legislative Membership Toronto—Premier Hepburn of On­ tario returned home from a two- month trip to Australia and announc- . cd he planned to reduce the member­ ship of the Provincial Legislature. He said the necessary redistribution bill would not be presented at the ses­ sion opening March 8, as he consid­ ered it better to wait until the next etFREE ESTJMAT-E .ON G ‘ WRITE NOW • fiendridge and rafter measure­ ments or area to be roofed, patched or re paired. Council Stand ard Tite-Lap” metal roofingis asound,per­ manent investment. Absolutely weather- tight. Greatly reduo fire hazard. . SOLD ON A 25 YEAR |£DUNGL5TAN0ARD GUARANTEE Prices now are lower because of SaleB Tax exemption. Save money by writing today. Manufacturers also of fomous Preston Steel Trues Barns and Jamesway Poultry equip­ ment. Address: 308 Guelph St., Preston, Ont. ii i i ! g < i i i Manion Says Ontario Centres Vulnerable Toronto — Canadians generally do not realize the vulnerability of the in­ dustrial and power development cen­ tres of Ontario, Quebec and Mani­ toba, as far west as Winnipeg, to' at­ tack from the air by planes .that could be launched from Charlton Island in James Bay or from a -St. Lawrence is­ land, Hon. Dr. R. J. Manion, Nation­ al Conservative „ leader., said here. Guest of honor, together with Col. George Drew, Ontario Conservative leader, at a banquet .tendered by the Albany Club, citadel of Toronto Con­ servatism, Dr. of his speech special stress quiry. Manion, devoted much to defense issues with on the Bren gun- in- Franco Contacts Hitler Berlin — General Franco in a tele­ gram published here advised Chancel­ lor Hitler that “heroic German volun­ teers” were among troops which stag­ ed a triumphant entry into Barcelona, Spanish Government capital. The telegram from the Spanish National­ ist leader to the German Fuehrer said “When after the conclusion of the campaign in Catalonia, victorious troops marched into Barcelona, hero­ ic German volunteers were among them, and in hailing them the Spanish people hailed ^Germany and its Fueh­ rer. France and Britain Strongly Linked London — Anglo-French solidarity' has no reservations, Viscount Halifax foreign secretary, warned Europe .from the red-walled House of Lords. “It would be a profound error,” Lord Nalifax stated, “to suppose that any mental reservation of any kind ac­ companied the prime minister’s words of solidarity with France.” He -was referring to Prime Minister Chamb.- Long an Italian sphere of Influence Albania Is* reported to be in line for absorption by II Duce, S?og, its iking, has done much since mounting the Bams Burned on Rowe Farm Newton Robinson — Fire of un­ known origin destroyed three barns and a season’s crop of grain on the farm of Hon. W. Earl Rowe, former leader of the Conservative party in Ontario and now Conservative mem­ ber of Parliament for' Dufferin-Sim- coe. Mrs. Rowe believed all of the animals in the barns, probably 15 horses and 25 cattle; were saved. The crop was a total loss, however, said. Farm machinery, stored in other building, were saved.' she an- expenses and providing for Dominion and Provincial Tax'es, Mr. Fleming pointed* out there were net profits of $52,746.70, which have been approp­ riated as follows: Two half yearly dividends at the rate of 4% per an­ num .......'....................... Depreciation, on buildings . and fixtures .................... Transferred to special re­ serves, ............................. $21,788.00 3,597.17 27,361.53 French African Chiefs Met Algiers, Algeria—Chiefs of France's armed.forces in Africa met in extra­ ordinary conference here following re­ inforcement of Italian troops in Lib­ ya. General August Nogues, co-ordin- ator of Fernch African forces which number some 100,000 men, planned to fly to Paris immediately after the report to Premier Daladier. The urg­ ent meeting was a sequel to persistent reports of a clash between French and Italian troops in Southeastern Tunisia. Mysterious S.O.S. Call Chatham, Mass, —'Government of­ ficials and shipping 'men of two con­ tinents struggled to solve the myst­ ery of an electrifying S. O. S. from an unnamed vessel, which reported sh'e had been torpedoed and was sink­ ing 360 miles south of the Azores, 2,000 miles east of New York, wreckage was found by ships went to the rescue. No that Britain Woos Nazis with Trade Blackburn, England — Prime Min­ ister Chamberlain; using Shakespear­ ean versa to express his confidence, offered to win Germany’s friendship with trade, but Warned that Great Bri­ tain is strong enough “to maintain her rights and liberties against any who might be rash , enough to attack them.” Japs Want More Say at Shanghai Shanghai — Japanese armed forces tightened their pressure against Shanghai’s foreign-controlled areas by using the terrorism that has swept those areas as a basis for demanding a greater voice in the administration of the International Settlement. Russia Warns Japanese Moscow — Foreign Commissar Maxim Litvinoff and the Japanese ambassador, Shigenori Togo, discuss­ ed their Fat Eastern fisheries dispute for two hours but appeared as far re­ moved from a settlement as ever. Lit­ vinoff was reported to have told the ambassador that information in Jap­ anese newspapers appeared to indi­ cate the Japanese fleet was planning to help Japanese fishermen take what they waht in Siberian waters. GREY & BRUCE TRUST COMPANY ANNUAL REPORT All Deportments Show Progress -- Fifty Years in Business Mr, G A. Fleming’, President of the Grey & Bruce Trust and Savings Company, Owen Sound, on behalf of the Board of Directors, presented the annual report for the year ending De­ cember Si, 1938, to the shareholders of the company at the annual meet­ ing. After payment of interest on depos­ its, guaranteed funds, management Total ............................... $52,746.70 The Directors are pleased to report continued progress for the year 1938. Deposits and Guaranteed Investments have, increased $276,362 and now to­ tal $2,610,158. For each dollar on de­ posit the Company have $1.26 invest­ ed in quickly cashable securities. Shareholders were interested to know more than 700 "new accounts had been opened during the year, and that many of the new clients had tak­ en advantage of the various other ser­ vices. New investments during the year were confined to first mortgages and high grade Government, municipal and corporation bonds. Mr. Fleming stated that since the Company was established 50 years ago it had been the policy of the Dir­ ectors and Management 'to maintain the sound business principles of the founders, and expressed his sincere appreciation to the shareholders and clients for their co-operation which had assisted so materially in the pro­ gress of the Company. Mr. Fleming also stated that the books and vouchers of the Company had been regularly audited and the Auditors’ Certificate was attached to the Annual Report, and the Directors .wished to place cn record their ap­ preciation of the efficient services of the officers and members of the staff. “Fifty years is a long time,” said Mr. Fleming, referring to the com­ mencement of business by the Owen Sound Loan and Savings Company and The Owen Sound Grey & Bruce Loan &. Savings Co. (later The Grey & Bruce Loan Company) and lie has been connected with both companies . since their incorporation. Mr. Flem- • ing was manager of The Owen Sound Loan & Savings Company with the office in -the Northern Business Col­ lege, before moving to the block where W. D. Henry’s office now stands, where it remained until the i amalgamation with the Grey & Bruce Loan Company in 1926. In closing Mr. Fleming moved the adoption of the report for the year 1938, which was unanimously carried. Directors The retiring directors, Messrs. W. S. Middlebro’, Jas. Gardner, Dr. A. L. Danard, G. D. Fleming, Dr. G. H. Holmes, G. D. McLauchlan, W.‘ H, Taylor, O. E. Manning, Dr. R. How­ ey, E. N. Cooper and C. A. Fleming, President, were re-elected. It was learned with deep regret that George J. Mills, a director of the company for a number of years, has been ill foi- some time his duties, Mr. J. G. Fraser was pointed as , a new director on Board. z Mindiful of Obligations Mr. W. S. Middlebro’, 1st Vice- President and Chairman of the Board of Directors of the Company, in op- enirfg his remarks stated that he could oply repeat what Mr. Fleming had said “that we have had a very successful year.” With respect to the business .which the Company does as Trustees, Ex­ ecutors and Administrators, Mr. Mid­ dlebro’ emphasized this was one of the best departments of the Company. The record of performances of past years indicate that this company is mindful of its high obligations. Integrity, financial ability and re­ sponsibility form the very essentials of the trust business. No scheme has, or can be devised to take the place of these requisites. With the co-op- eration the Company is giving the solicitors of the district they are de­ veloping and filling a very adequate need for the people of these counties in assisting them with all their estate problems and carrying put the admin­ istration of both small and large es­ tates. The friendly relationship be­ tween the Company and the solicitors and to relieve him of ap- the is of the utmost importance and the Company is mindful of its obligations to the legal profession. ' i Progress Shown In analysing the financial position of the Company Mr. Manning, Man­ aging Director, stated that deposits and guaranteed investments have in­ creased during the year $276,362. He said that these funds amounting to $2,610,158, are invested mainly in ap­ proved mortgages and Government bonds. That while during the year $127,314 had been loaned on first mortgage security substantial princi­ pal payments had been received on existing loans, so that the total in­ vested in this type of security at the end of 1938 stood at $1,349,037—an increase of $16,854. Owing to the continued lack of demand for first "class mortgages an additional $204,- 508 had been invested ip. Government, municipal and corporation bonds, and the total invested in bonds is now $1,533,600. Under the heading of Real Estate for sale, he continued, they have $18,149 in farms and $115,048 in city and town properties, located in Owen Sound and Toronto, and the annual 'interest return from this section has been improved from $4,392 to $13,982. The Estates Department is contin­ uing to make progress, he said. At present we are administering estates valued at '$794,921, and are receiving a substantial number of new estates, with constant distribution being made to beneficiaries. During the past year more than $124,000 had been distri­ buted to heirs. There is constant evidence, that the public are becoming more "Trust Company” conscious. They recognize the advantages of corporate adminis­ tration with its experience and safe­ guards. as against the hazards that sometimes attach to the administration of private executors by reason of death or sickness making the tenure of their office insecure, or through in­ sufficient knowledge of the laws gov­ erning executorship, the investment of trust funds, and the modern-day gov­ ernment taxation. * IN ROYAL ENTOURAGE George F. Steward, press officer at 10 Downing St., has been chosen as one of the official staff to accompany the King and Queen to Canada. He will act as chief liaison officer, The Advance-Times Phone 34. THROUGHOUT THE EMPIRE, DEFENCES ARE BEING STRENGTHENED To maintain her position in the armament face, Britain strengthens the homeland and colonies and the dominions follow suit with their own preparations. Flans include for Fen- ang„ most modem anti-aircraft units; for Singapore, maintenance of the $150,000,009 naval, military and air base; Australia, a $250,000,000 threc- yeat plan with expansion* of defences at Port Darwin and Bort Moresby, New Zealand; Canada, more airplan- es, strengthening of air and land forc­ es; Bermuda, accumulation of arms and equipment; Great Britain, $1,000,- 000,000 on the air force alone with the greatest naval progradi ever; Gib­ raltar, mote efficient armaments; Malta, a 10-year program increasing air Strength; Ceylon, a $2,500,000 air* port; India, reorganization of army probable; Africa, development of Freetown and Capetown as naval bas­ es with increased appropriations for air defences.