i

ivovdi-oc Q

x

i GIFTS

SUGGESTIONS our:

YOU MAY FIND IT HELPFUL lF YOU LOOK OVER THIS LIST. . .. bedspreads (Chenille)

llankets (Flonnelette)

Blankets (all wool)

Sheets (ilannelette)

Pillows (made by Simmons) Bath Sets (Chenille)

Comforters (Satin)

Medicine Cabinets (with mirror)

Wardrobes (corrugated paper, wooden or steel)

End Tables (walnut or mahogany)

Coffee Tablas (Walnut or ma- hoganyh

Lamp Tables (walnut)

Drum Top Table (mahogany).

Card Table Sets (wooden steal)

Occasional Choirs (upholstered) Rocking Chairs (upholstered) Table Lamps (with shade) Card Tables (steel legs) La-z loy Chairs (with stool) Trillta Lamps (with shade) bridge Lamps (with shade)

TlIllT»

OI’

I f‘ ’

Trcsldent and General Manager,

George W. Spinney, C.M.G., President. and B. C. Gardner; M.C.. Vice-

Bank of lllontreaPs 130th annual meeting.

who addressed shareholders at the

Immigration Pol

tirrs, FRIENDS APPRECIATE

Boudoir Lamps (with shade) Electric Heaters

Electric Hotplates

Coffee Percolatars

Radios (all types)

>WEQQ

These and many other delightful articles are available at

ciiociisrr STOREY

CHARLOTTETOWN, P.E.l. PHONE 834 "

j9<i1

Cuf Here and Carry with you

ce<Q>tnQco@-eo~@ooQ>¢e@co@co=Q-eQ-Qe

i

sxeikiiig manufacturers, working

ioai polls lri the states show," said one manufacturer, "that. fifteen denier hose, which is very sheer. are becoming increasingly popu- lar. especially in new dark tones."

iirziinusl‘ HOSE ran unass- or WEAR.

much‘ with stylists in this city, A very few manufacturers across are‘ ‘promising fabulously sheer the border have been BXPBTImWl" lir-se ill high fashion colors for ‘ng with tlie almost cobweb sheer

some time iii the new year. "Fash-

ooltv-r MISS our:

iirsa in s Len denier weight.

G0,, QVER GIFTS n, TH“,

.099

o.‘

PYREX wan: countess l

IIOIIIIE-DIITYViEISSIROIE Two smart gifts in one. Practical too, the cover keeps food warm or serves as separate ple plate.- foodr belie lsster In Pyrex ware

- and taste better! s 6h oz. size - only

PYIIIX IITIIITY IIISII A gift she'll use a dozanways. Coulis small roasts, hot breads. rolls,biscults,and deesertmldeal for candy end brownies. The

hancliast dish in the

liitchen. lOl/s in. size

PYIIEX (III! DISII Notice the convening ‘In, h". dlul Balm perfect layer esliss °l doubles lar mean, vegetables and other halrlrrg. Washes easily-

A Plirrnslieia lovely ¢

gilt. Each . . a aQRIY

rvsrx m rim Justthinlr how proud she'll be

of her pies in this smart traile- parent Pyrex Pie PlatmSlle can watch crusts come be a crisp,

flaliy brown-it'll Inch 37¢

highly inflammable structure."

ened sense of responsibility" among munlty for the implications of their of price and living costs.

Speaking at the bank's 130th an- nual meeting. Mr. spinney said that self-restraint in the matter of prices and costs is a “safeguard hat no group, representative of labor or industry and responsible for shaping policies that bear on prices and costs. can afford to ig- nore in the interests of their own continued well-being. apart en- tlrcly from broader anii no less, im rtant considerations of the col ectlve welfare qt the entire community."

The grout rise in prices and costs was described us "everybodyu concern" by Mr. Spinney who ob- scrvcil. “It affects the housewife, ruefiily contcmlllatiug the family budget. It enormously complicates the problem oi providing urgently ,ncedcd housing at prices that ‘peoplc can afford to pa)’. It re- duces the rcal value of all ac- cumuliiierl savings in monetary form. outing away at ibc bard- wori rewards of foresight qiid thrift.

“While we Ill Canada have been sparse-Linc hardships of violent inflation." he concluded. “we have experienced enough of the con- sequcnccs ol a gradual fIGlITOCIBb-i ion of the inter-mil purchasing, power of our rlollnr to YPI-‘lru I01‘ the advantages of n dependable standard of values in terms of a stable level of prices."

Less Government: Spending

Emphasizing the need for re- dllccd government outlays. Ml‘- Spiniicy said that, at the present]

grime "even the most. ardent pro-

ponent of compensatory public} spending wouliLI think. agree,‘ that we have arrived at one ofi those points in the economic cycle,‘ where old-fashioned virtues of fru- gality are thoroughly consistent with the dlctutcs o; ilie most ad- vanced economic theory. The] course now indicated ls the,‘ difficult aiiil more courageous route of rcenorscless clinliniition of luxuries of governmental expend- lture, which represent un un- necessary demand on the taxpayer and on our productive resources." Noting'tliist Brink of Montreal loans had increased by 91 per cent since the cud of the will‘. MI‘- Spinney explained that this trend was much in the nature of a readjustment during which banks had been resuming their normal and necessary role as a source of credit in a peacetime economy.

Constructive Credit Policy

“I am satisfied," he continued. "that this bank has been, and is now. actively pursuing nliberai and constructive credit 1501")’ l" "19 broadest and licst sense oi’ tlieso terms. But. us I endeavoured to emphasize last year, lt is certainly not. a part of such a policy to encourage a business or an in- dlviduai to get into debt for lil- conirldered expansion or for any other purpose in conflict with sound and reasonable practice. Onl by a continuing concern to avohl extension of credit for sueh purposes can our responsibilities be fulfiiicd—not Only to bflfrwler! depositors and shareholders. but I ghould pdd with special Cmphfllll, to the community as a whole.

"It la at a time like the present." My, Spinney added. "that the prac- tlcalvniue of the highly personal relationship between bunker and customer becomes most fully apparent. Every situation has its individual as ects. and in meeting each one in ngible factors of character. and personal know- ledge arlslnF out of ion exper- lenco are gven due weig t."

“I know of no business less fit- ted to the routine techniques of bureaucracy than banking." he said.

Immediate Immigration

"mucking "on maur Mltllhétlligfigg a n ea ons s r. s eaTed that Iliisnada should

forc bly direct her attention to ways and means of shaplnp a more balanced economy, thus essening this nation's dependence on. and vulnerability to. influences beyond her control.

"To put the matter bluntly," he declared. "Canadians are at this

\

, fl

u» noaizns HARDWARE

serum urnrs

l

i u

l r s 1' I

helping to support. st a lcw level of existence many of those peope who could be and should be carving out. a fuller life for themselves in this country in which there are far too many empty spaces. If ever there was a time when oansda should press forward ‘with an immigration pro- rarn. that time ia now." he Isl a policy must be Vigorous

Btllllf 0f Montreal President Says Self-Imposed Restraint Needed To Fight High Prices

George Spinney Also Asks For Immediate Selective

I. C. GARDNER, GENERAL MANAGER, REPORTS B of M DEPOSITORS NOW OVER 1,600,000; CAUTIONS BUSINESS ON FINANCING

Montreal. Dec. I - "Self-imposed restraint from charging what the traffic will bear. either for goods or the skill required them. is as necessary, as practical and as prudent as fire insurance on a. In these words, George Spinney. Presi- dent of the Bank of Montreal, today emphasized the need of a "sharp-

ataff. Not nlz that numerous re-

icy For Canada

to produce

all influential groups in the coni- policics in relation to the behavior imaginative. and it goes without saying. highl' selective from the standpoint o occupation pnd lit- ness for citizenship. ' "An influx of new skills." Mr. Spinney continued. "will be o! 1m. measurable aid in bringing ubout the further tievclopmcnt o! our industrial capacity, boi h extciislveiyl filld intensively. ilflfl thus hclplrigi to overcome some qt the instab- ilities that are ilie liiovliable con- sequence of our present. relatively small home market and our over- rlepciiilcnce on cxtcrnzil trade."

General illanagcrha Address

In his report. B C. Gardner. guncrul manager, reported a new high in the number ni B cf M deposit accounts -- new more than 1,tI00.(Kl0. Totiil deposits were 31.783.000.000. he ndilcrl. as com-

‘ I Smart Girl Ill _ George I‘. Work Eric sometimes .-

restaurant.

short biades and long handles for dealing with steaks."

plates." Eric looked up. “That girl?" "Yes, Brie."

Eric Pltked up

sen. I'm curious about Smart."

0H1 I tell you?" "Who's doing It?"

“The prettiest thing in

mantle. Irresponsible and danger- ous. Her name la Sally Porter. Do you want to meet her"

"I've met her. I'm lust curious." "It's I waste of time, sonny.

with Bally. and she's going to‘ marry one o! our reporters next week. She's a grand gal. She's from Roanoke. Virginia. She went to Randolph-Macon. she worked on a number of newspapers before she came over here."

"Has she red hair"

“She had reddish-golden or gal- den - reddish hair, depending on your mood. vast blue eyes. a sumptuous sense of humor. and a figure that would make a bronze saint twist cracks in his pedestal. 0r did you notice that. She is already o, Park Row legend. Any- thing else?"

"How much does she make?" "Ten thousand a year plus per- centage. I understand she's sup- porting her parents, What hap- pened was, Let's Be Smart started on the woman's page. It was lust another one o! those things; haw to powder your nose, be fresh and dainty i1 you would win him. And suddenly it went to town. It wzis jumped to its present position a coup-lo of months irgo, and is now being syndicated to about eighty papers."

"Wired or mailed?"

“Wired, The woman angle, you know. Good stuff from the woman'si angle is as scarce as it happy face backstage on opening night. And. Sally's stuff is superb. It's the first‘. woman's column of it's kind that men eat up. When are you going into production again?"

pElYCfl with $1,736.0C0-000 for the previous year.

As furthcr evidence of the bank's expanding OSI-Wfll’ ilL‘ll'r'li_V. Mr. Gardner no f‘(l that the hank hzidi opened 28 branches iind sllh-agcri-y cics during tho year. There iiadi been a relatively greater IHCTCIISCI in llllhk personnel which grew from 8-400 in 1946 to 8.900 at the end] of the currcnt fi'*al yenr. He re- ferred to the bu "s staff train-

ing progrnni, the increasing mech- anization cf routine transactions. and tho establishment of nl group of routine organization 01-] ficcrs u-liose dilly it urns to assist‘ branches in simplifying and im- proving their operations.

Turning lo the vclunwe of foreign trade in the last year. Mr. Gardner reported that importers and ex- porters have mode increasing use. of the bank's facilities. while the demand for trnvcl funds and foreign’ remittances has also been greater.

Through its relationships with banking correspondents in practic- ally all foreign countries. Mr. Gar- dner said that the B of M had found that dealing with long-estab- lished banks ln their respective countries onnhlcil the bank to pro- vide its customers with unexceiled facilities for conducting their im- port and export trade.

Sound Financing Nerded

Referring to the increase in borrowing for capital purposes. Mr. Gardner emphasized the import- once o; maintaining in corporate structures. ri reasonable telation- ship, between equity capital and; borrowed money. This he said. ap-.

lied particularly to concerns that liad been expanding rapidly and whose equity investment bad be- come proportionately small in re- lation to higher turnover and in- creased fixed risscts. ;

“One of the necessary condit- ions of a vigorous and healthy floiv of equity funds lnto Industry is a taxation policy which makes invest- ment, or risk capital both ossiblo and lyvorthwhilc." Mr. ardncr polnte out. "In this connection." he went on. "lt ma be said that the high taxation of recent vOlrR. in aildiiiou to discouraging new cqult investment. has encouraged a substitution of borrowed money for shareholders‘ funds in existing capltallzatlons, principally because of the fact that interest s deduct- ible as a prior charge before arriv-l ing at. taxable income. While this is pn understandable develo merit from a taxation standpoint. t has ln many instances had the aifecti of introducing nn unrlersirablc elm; merit or rigidity in corporate Iinq ancial structures. 1

l win-rim; Capital Needed I

"I also feel," he continued. "there may be some danger that under present conditions some concerns are attempting to do a; larger- volume of business than is, warranted by their capital rev, sources. While r do not suggiest that this dsvclo ment has rese ed,‘ elarmin pl'0p0l' ions. do feel that. where t a physical vo ume of bus- iness ls substantliillv larger and prices are higher. _ ode uate marking capital should be ept actively n mind. This Ir particularly true as ion as the

lgh level of taxation I its the amount of roXlts that can be retained in t a bus ness." I

in his closing remarks. Mr. Gardner id warm tribute to the

he need for

turned veterans on the staff al- ready occupied important posts. he added that many new entrants engaged since the war were also veterans. Mr. Gardner paid spec- ial tribute to the women employees who comprise some so per cent of the total staff.

"The organisation and arrange-

“As soon as I can find a play worth produclnl?‘ i

Eric dropped the telephone into‘. its cradle. _ l

"No John." he said, "she isn't] the kind of girl you arrest. She, comes from a good family. slie hasl a finc reputation. and she's too‘ important." '

“Your father won't care. He's coming to New York especially to grab herf"

"The time isn't ripe. and I don't. want her grabbed. We can't prove‘ anything against. her." l

"The right questions mighty break her down. Eric." i

The lanky young man shook his! head. "It isn't time. Let me handle‘ her in my own way. I don't want. the senator to know iinythingi about her." l

John Featherly threw his

cigarette away. "You wouldn't be asking me to doublecross him, merits relating to the development the Progress and the welfare of our staf are under continuous and careful study." Mr. Gardner said. ' knorw o no feature of our business that has required more care and consideration over the past year."

COOWKDOOWW?

read Lot's Be Smart. Isa recalled previous re- ferences to Silver siipperr ideal

“Another thought for our ideal restaurant: Sharp steel knives with strong

Near the bottom of the column was another: “The ideal restaurant would serve all salads on frosted

the telephone, dialed the Globe and asked for Benson Hodge. Benson Hodge was the Globe's dramatic critic. He said to Hodge, "Benny, this is Eric Lar- Let's Be

"Your name is legion. Iric. What , the newspaper business. 1 am fifty- five and called the most cynical

min on Broadway, and whenever I look into her eyes. I become ro-

Every man on the street is in love|

| Eric

1% King and lay 59s., Toronto,

in I897 —- that's when Grape-Nuts was borril

made

wheat make

A Product of General Foods

A Sz/zsakblfle [Z2111 afdie (Zr/lolly

ALMOST from its very beginning in 1897, Grape-Nuts was a sensation. That malty-rich, sweet-ris-a-nut flavor

nourishment provided by Canadian

an instant hit. And the fine

and malted barley liae lielpeil bctler brealrfiisfs for 50 years. r

?osfs

Registered ‘lrode-Morli x a i

"ref/Io!

and

1hr

Enjoy “golden good” eallng with Crape-Nuir. Buy the new red-trialle- and-blue porkrigo- n-iilly economical lirecuusc only iii I! lalrlc-prrims rnnlzcs an nvcriigo serving. ‘ Grape-Nuts.

.-

hoiir grocer liae

Nests

s-m would you?" the girl they had all been looking! "In a, way." Eric said. "In ari- for, was Sally Porter. 1 ' 09h" WHY- IEFS say it's for his It was a risk. Not only John,

own good. Let's say he's apt to be impetuous; upset the appleczirt, spill the beans, and leave the big chestnuts in the fire. You can't touch this girl. You can't prove anything."

Featherly said, "Wait a minute. Let me do my own thinking for a minute."

I-Ie went to p, window and locked down at the rainswept street. John Fcaiherly was a Department of Justice agent who had resigned and gone to work for Senator Larsen a little over a l/ear pre- viously at a large salary, He had conducted an investigation of one of the senator's political rivals and had remained on the senators personal payroll. doing odil Jobs of investigation. He had lcarncil that Senator Larsen was an ardent pat- riot. a pompous. rather iliick- skinned. bull-headed man who politically ivzisirt very important. and longed for prominence.

The senator's appointment to the chairmanship of a coinmiltec to investigate the activities of alien liibor raiclteteers in American industrial centers was in the’ nature of all apple to a wcli-bc-i llilVCfl horse. although it was Just- ified by his long experience us a manufacturer.

John Fezitherly knew that when this chance came the senator wasi napping; that Eric had flown to‘

Washington and pointed out w‘ him that it was a splendid op- portunily to ease himsel; intoj senatorial prominence without‘ stepping on important scnatorioli bunlons. And Featberly knew that the’. senator characteristically hadl

seized the idea and made it his own, although the campaign was mapped out by Eric. He knew thatj tvflllléfl ilie senator to make. u, spectacular success of the ivest-' lgation, because he wanted his father to be happy. to attractf notional attention.

Featherly was actually in charge, of the ‘investigation. dlrectingi agents in the important industrial! centers. l-le had secured the post,‘ of valet to Stefan zorane. u-boj was not only the must diingcrousi alien agitator in thc country but? also the key man to u scandalous situation. ' '_

And the key girl to the situatiomi

Featiierlys job. but his reputation} was at stake. Yet he knew that‘ Eric Larsen was s brilliant young mun who hail shown himself cap- fllJlC at intrigue.

Feathcrly turned window rind said. for this tomato. protect her."

“If I protect hcr." Eric answered “I'll also be protecting the senator from premature impctuousncss."

John Featlierly grinned wisely. “if you introduce her as your fiancee. and if you can get away with it, you figure your father won't, crack clown on her when he learns the truth."

“No. He's bringing the alligator bricfczisc. 110's on the wurputb."

"Like an army tank." the invest- igator aLiirmed. "You‘re going to travel on tiiiu ice. Eric. but I'll let. you bundle it your way. Ju t. re- mcnlbcr this: If you fall in love u-iih llCl‘, or if you pull a Galahad on us, the tank will be wrecked. I'll be wracked ~ and you'll be wrecked." (To Be Continued)

from the‘ “You've fallen You want to

PARKDALE SCHOOL

Honor Roll of Parkdale School iLI. the month of November:

Grade X: 1. Sterling Moore. l. Craig Matheson.

Gracie IX: 1. Harry Cook. 2. Vounda Biiell. 3. Betty Cook and Elmer yaquette. equal.

Grade VIII: 1. Sylvia MacKay. 2. Arlene Bell. 3. Shirley Clay.

Grade VII: 1. Ens Bertram. 2. Shir-lie MacKay. (l. Alan Burns.

Grade VI: l. Roddie Hlckox. 2. Ftuth Good. 3. Piiiricla Gaudet.

Grade V; 1. Irwin Bucil. 2. Erma liar/Donald. 3. Hillard Cotes.

Gracie IV: 1. Freddie l-Ilckox. 2. Beverly Good. 3. Barbara MacGreg~ 1i, Robert Gregory

Grade III: l. Marion Nichol.

o

Tirelyn MncKay, Donald Gallant. 3.

iaii l/facDonaid.

Grade II: l. Fay Hickox. Diann Dixon (squall. 2. Jocelyqu Stewart. Elmer Hogan (equal). 3. Allison lincflacbcrn. Billy Gallant (equal).

Grade I—1. Judith Birt. 2. Al .Eii2t Murphy. Douglas MacEw-en

squall. 3. Norma Bell. i

Principal - Miilar MacFadycil.

Vice Principal Mabel Allld-

‘ Chris. D. Henderson of Murray Har-

Assistant _ Winnifred Hzlslnnl. Assistant - Eunice Mar-Isaac.

Rev R. S. tluigley At Belfast

In the historic Church of s. John at Belfast the Presbytery of Prince Ldu-zirci Island conducted a solemn service of induction on November 18th., installing the Minister-elect, the Reverend R. S. Quigiey, Ph. u. into the Pastoral Charge. The Moderator of the Court, the Rev’d.- itandolph D. Mai-Lean of Montague presided and conducted Divine ‘Worship assisted by the Clerk, the Reverend T. H. B. somers.