_ THE

__ cH.tnLofi'1'afrowN cusnorgm _ _ PAGE Five'

"P0" |200 000 000

has hitherto been

_ ____ ,|.h|__ __h____m ____t_ontcrprises in this country I do not Al)DltEil€i husin ss conditions alld outlook \Ve have a fertile soil vast miner 1

hp(.::,|£:u_§;_:-e;;_¢;il_____c______ ____ m__d___ ithgrh hhh, ffm, hut ththh, wnicome Sh. Frpderlck wmmms Thylot and n paiticular there has been ai lcsuilrces, inexllaustible fisheries, ¢r- ‘

______y _"gh monoy mth., me It hm; ____ __<_1\;__<; dI;1_5>_;\_:_y._\;'\_lcll_ must as em-ral Mmmm.,-_ in submitting hi.. nlilch culniilaint because we are not mighty forests, illlcqiialicd wat i 'Q V _hy symptom ,,0n,__t\t,,tt,,“ tt factor ____ r________m____ _Dl_ln o our nat annual addless said now so plosncrous as the United powel transportation iznloro, and an __ _ttmutytng ctmnd,.nt.t, in th.. bt,” __ - .8 V( impio\ ment to M, Chai,-man ,mtg (;t.ntit.m..n .__ States In eonseiiiu-lice, the Collin industrious peopll.»ln fact, all that ff ,,,._//fi __ ___,_,__ outlook “ ""' “Vid |"CY"’l1l~l0 0\U` L’XD0ri.s to You hav(-, h.-fore you th., one hun dian public, alld those outside hilt goes to make a great and stroni: _ ,EW Thom is no question but thu.t the "\h"'_ """“"“`5 tired nm) nigth umimti statement of interested lil Calintla, may well have nation-but prudent managementof ’ '~~>--.__.,{'_:_ "

ri-nd of busliicss is slowly hilt Nm "W" “XD0|‘i<‘ric'- of like con the yinnit-H h,,,,iti¢,,_ ,md I beg ieitvn fcit confused and uneasy. our affairs is fundllllbhtai. Without Q

________ ____w___d _,___ ____ __v_d____co or dltions In othei coilntnlits give to repo,-t that your punk tnnttnttm, Briefly wc ilnd the facts to be as that all oilr mlllloltl advantages

_______ c___ ___&d_________ _“__ the l_____:____t on online for uppicllension, the invest .mfg anti ,.im|m|_ both htrong and follows. Our foreign trade illxurss incall nothing.

___________ w_____e w_____c________ _md __e_____ ,hunt nf fmt-lgn capital in deV6l0l7 liquid. with a clean business and n|ure readily avaliable. Weknuw that We should svar keep before ns _________e____ “hows __ "___, degree of ___ rn of lrsoulccs of an nlion nat uai;|,ifm¢|_0|~y (,rgnni7_,tti,,h_ our .exports excoeil our imports ful' tho fact that Canada has immense _______________ _______v_Ly ,r__xm__ ___d____'__,|___, lon bi-neiltlni; both those who give As you know, the good name wc lhe year under view hy $333,il00,- pnientialities. and that the mistakes "_, wt," ,,mhh,vt.d an tht.,-e in llllil limi-il* who take The firm i0y- possess wan new-r ipttt-r than it is 000, which is satlsfactoy. of the past are reparable. Also. we mme demand "_ tht, |eB_t_h,,t. and 3| ily Ui’ fill* Lilillldiilii l>°0pl6 in the t0dny__ it |,, ,tn ,t,,,,,._t wmch wt., Turnim: to our internal trade, we have a splendid manhood east and “___ _____d____ lmprovnment t__ “|80 Illltish I-.mnile has roots deeper vttlut, 'us we th, om. material rt., know from experii-lice tllat it has west, with n loyal love. of country _____w__ ___ __n_____ “nes of b“,,|m,,,_,_ than the pocket ,wu,»,,e,,_ ,md whtch tt tn (mt. duty M not been generally satisfactory and a unanimous determination io_ _________g_h __mm__ are curtatlpd ln The exportation f plilpwood. weii as our dete,-mthathm to pre. though the olllclai aggregate figures preserve oilr political independence.

_,___ _nocmy _____de_ There ts hut., lm power and other natural resources serum are never obtainable for two years nmpnttrr AD0p1~ED

has been u much debated subject W h . or more. .

lirovernont ill the lumber market in e live gone tlirouirh anothr-i _ ,nm chatrman tm," tnvtted dm. l~.a.-iii-rn Canada, llilt west°rn ship MY u_\_vn _ff-el_l_;ig l_s that_these _:R year ol' business di-pressioil and this _ An _?\lU1\_i1“i`l_|_l\_i. __l\_l\d _ Rf|1_UfY|"F5 ,.u,,_.,|,,h_ but thhrt, being m,“,,_ ht.

h f tha Panama (vmtm sonic s sloii , as ui" as s pass P 5 t-..f|t.ct,,d to th,, ,||hudvahtng,, nf ixoap on s i ,\,lan-grow ng iii- d __ d d b Str Ch___,l____

ments y WHY 0 _ _ “ ' ‘ _ _ _ move , Bonn e y ________ ____b__t_mu__"y tncreuaed h rituined and developed i banking h,.0||ts_ put.ttmat,.|y our i_l_u_stry of our _sigirlidid Wcsi..__w_hich G____d_____ G_B_E__ _hu me Re____" U,

Asriruliure is our leariini: ind” (`""°dn H'°M 'fenilnir newer continues. “‘ “°“="’" "'“ “"“" "V" 4 0- °°~ ilu- Directors. now reed. bo minute-l oy and on its prniliuuie ouicovno 'rua Na'|‘|ols/ii. n.\n.wav~l though obviously our profits would ""0 “""1"""‘ "' “"‘”“' ““ °°"‘°‘"°“' una printed for distribution amoni:

tile prosp'-rity of the country large I muh, no apotugy for advenlhg "UV" bei!" |i\\‘K€l` N10 lhfi ir\d\1»ll’|H| 31?' 2_?"'_‘_m0’000db'_'"helB a yu" “fm the Shareholders.

ly depends Willie unfavorable wca ,_g,_|,_ ,___ the __,,,,|D____ problem pre ”\¢\"l¢|‘"\ D9"\'\ilUld U8 t0 Pill ‘Nil “ B' T 'W ""_ (Dame grams “B0 The report was unanimously

"H" °<»n0i'-|°“H \‘°“¢\‘i°*°°i ““""‘“' ur-niell ay ine canadian National ""°"’ "‘°"'”' “’ "“’ ‘"“’“ 'md °""" wedeit éigeri Hopi ll C a “""°‘°“~

ini, to some extent, the crop that R__||way_, The _________________ ___ omc merge or Canada _“her than ___ ________ _____________ borka __ .an_il "1" Mr. Wm. McMaster moved, sec- “""“"" "“° ’°°' ". ° i-"V iw rv- ver. °:. ’:.‘:"‘.t°". °“:’ "1" :.;.:‘°t1.: -Y M- large onc and, at pl‘HH°l\ Pl* C28- . N, tht. cn |ta we _ . R -c ass nves - ‘ ‘ ' Messrs. James Hutchison, CA.. and will Dlove profitable to the farmer ¥(_:,|_, hm, beg" rncgezzid (¥572t:25_ MBUU Wmi i1i°"li“‘-I” Yield- nguxf Y," _the §m"v|°;'_s 'vglve George C. McDonald. (‘..A-. he nil' 'l‘lu. marketing of the crop will 000 __ ,_m_r__,e_________y _“___” _____________ As to the future. my special mes- "‘“_“ :_ ir?" gsm” YM av? pointed auditors for the hallk fol- brlnii at least $500 000 000 of now hon tt ___ ___m__mb_______l that not o____ sage to our shareholders at distant ;‘_";__;;_r_“ Y _l_f0<_;:U__m__i_c _\1;>__iime___o the ensuing y__a___ and that the hui. nloney into Canada and wiill ilil _"nm Ur not ___v______e _"___ yet been points and abroad is that for sev- more “'$___ ___ _"__" __° _'E “_ ‘____‘; |,,t for the auditor, he taken at_th.. “°"m*“"Y anmi 5 "“"‘d“'u°" 1" vaiiabie towards thmie new inter erm reasons' "winding a bountiful has bg iililtvisedt lin ili\l:srnt<l\e "°'m" um" 3” "h° bun" for dum"

iiillnerq' llabllltlies 'Phil “"W m°'“’y st elianizr-s Some progress in earn harwnt' more has mme about a volumoe f debit' to I di lltiiai bank ""3 M "°ke""

wli_| :ow ihto nah _chu_nneiuvut_l{_i:_‘;° nun. nos. ins.-ed. li..-.n inlul- out for f,';`§f_‘2_'_,,f1_’:f1 f."__‘;_',f_,,_ "§’_f°_f;‘_1____:f_;'_:;‘§ ing ,,,¢c§..,,t,, ti§`,.,,,,,,T,,,,ft(,,,,. ,.,,,,,,I 'ruamts 'ro orlrlcains

iilli i- ie arte n IIIDTU ‘ .. . ' ' '-

lil.-us conditions gcneroily throuizll E:_;_:__" _:unl:;`__3‘;:;__g‘“'_;;;?__31e;`__? ,Egg there is ground for thinking that §":m"“°_':_t_;‘_nys_::‘_"';"‘_;__'|_h‘;*:‘f"{'$':`_:*_f‘; eN;dZ_"_~`p\_‘_|"";____1I‘3(l;‘f_';_"__g:“g‘__v':_‘_f‘_:'_‘;;’ mn th" ”°““"y i-\i\l\l\f‘ 0|' “"W <‘f\l>iUl| v\1li£ri1li0l\8 we have passed through the War" terly 5moré,act'iveu;tatf~"i§f(biisiness That the thznkslof the meetlnlt Bri: ___'r::;___f:p_|d __:_“‘:_‘_':_'__'_‘_""_f__§'__'__}:_e _amz I IU" i'PTN\ll1iil‘d limi Of 0\\l` ¥\H¢\0¥\“| goirfgn,l?as,.3:r:.m;=.¢:,ne":.n:h:;n:;°i|(f,‘:,:‘ Bank deposits in Canada are high- llf-ruby tendered to the President,

- i‘ ~ ` ' 7 ' ' » 1 _

‘fr .';:r:.'::‘.'".:-.:.?::a.s‘:':.’:.t';..;1‘z::..::;. -- --~~ 2.3: ’.1.*'.:.-.‘2.‘t.".';'."..°. ‘::.‘:' .° “wx :':: .Kris ’::::“:.°:." .:“:‘..".‘.rf.f:;2;:. luulils w~re able oo simply without than "___, of me railways share. riilwcifiily as we have never __________w_ '53 000 _mo _e or ses u ._ _he Bu __ n _ . """”“ "f "Wil" ‘if 1'" "‘""°“°Y “Y” Me" I" ° bm" °' °"°"°' ""8" 'rain lngl- ' i 'd i i U i ifi ' t thi resolution will and without interruption of the |MM|G“A'"0N un" to undertake new bulmeu' 81811 np" toeaancgrtallgu ui‘nts bift‘mi(f lvlrn Hsigllgirt :§id' ?'It 'lilies 'me great """ "f Cfvliii f°\‘ ONUIUUY ‘=°"""“‘”°' immli»rN\U"“ ’°'""‘” are dl" In round ngures' wa have: that portion of the lncprease which pleasure and honor ti? have the oil- ‘“' |""'¥"*F‘°F In *ms “°°°m|“‘"“" tinctly disappointing Newcomérs 'nr cash ”04’000'o00 represents idle funds of lndugtrial portunity of moving a vote of ""'"( may bv f“““d ° "rn’“w m the lb Dill" C0\ll\U‘Y d\l\‘|I\!4' the yeh? of can 'mms lmmnd|Me_ fi concerns on deposit with the banks thanks to the President. Viee-l>‘resl- "“"""`"°" 'if 0"' '“““°"“‘”Y "‘“""' rcavlwd only a very numgre total 'Y '“'“'"""° 1"’°0°’°° were being actively employed nv dent and Director or the Bunk nr

and the i1di‘¢i\ll1CY Of 0"' b““k’"3 W-hetllel is is due to some restrain of ggt'Pt‘}g9d',?:§i‘it-(game these concerns in their business, the hloiitheal: Since tae Bank has been . 50C to

""“’“"’°'- ins influence nut apparent on the fzttbtf ,,`,.‘;_‘;_,fm,,,, y _ 14005009" country as well as tllsbunku would rounded it has presented stall-ln.-ni.~l

i-\NADA"! FORFIGN 'TRADE siirface. nr A want of activity on of ,,the',.,,'q',,|d ,,,,,,§t`,`,"_f_:_ 721000:,-,O0 in the ons be better off. 'rhe in- nun have shown strcnirih. vow-'r. also

'ph n d re Uiff DRP! Of immiitration officials. It 0*” ww' "f 56 pet. m..nt_ of num". crease in the Savings Department. and prudent administration. and

e f i t e a

eiliiliiraiglzza Site lalrggzgarr value 1" d|m°"‘t '~" d“¢9"m|¥\° In BM' |,t|:|tt|,,H tn the ,mhhc tn ahhh or", which consists in the main of small this is duo to the selnctlonbnf direc-

... .

case, it is .snential that our large ' h_ accounts, is n healthy and encourag- tors, they having always een out M E

llavinlir been exceeded only once in b" “°""‘d ‘md "'“d” |"'°d“°""°' h Canada as at aint October were C°mm""°|“7 f“||U"°S f0l' "I0 tW€iVl‘ "0 P“bl\0 °0“U¢|°"°°~ the lug “yeh "_" vi, in 1930 This “'°\'|d '“°"°”° W* d°'“"‘d 1°' 3152 500 000. This figure is lower by "i°""‘“ ‘ended 3('"‘ 9'fP'~”"‘b°" W"-1"" "The B°“k 'F ° “"U°"“' """""' -?---1-'_-*ii*-"'°‘ ‘"‘°" °"'°°' "°¥° °" "'°"°°°“ '“ ".""2" n'“".‘i§'...i.’L. ‘.’.i'.'...1“‘.§i'F.".'.i`.§‘”~‘5°°»‘5°° °"°“ ‘ ’°“' °‘°~"‘“""““ F‘Z‘i`i§°" }“i'é`?I.'J‘J33 §.'l".{‘.; ,f.‘.$..`l"“.§§3`°.'.."'?.1‘.f’."..33.2 'lil- u... ,,.,,,,,, ,,,,,,,,,,, ,,,,,,,,,,,, ,,,, which v on » v .,,,,., ,,.,..,,.,, of 0... ,...,,.,....... .,.... . . . . ii . h d f tax ti n be lessened, nor For tha previous colosaal.- It aa never refrained

:|‘,,l,,:.,x:;':|ca';_'; m='"°‘gl°°__‘T::r:_'; :fd ,ggismloprogrsasoand prosperity be :,?_Te_x__s:l_fg°§§;:,':‘_::;°,}';;’:t:rg° mm" twelve months ....2,488 $89,800,000 from any of tie; duties required or P to to 248 000 000 gn Inorzlaaon of close 9° surely “"'“|“°d' Our deposits bearing interest Rl||f°“\`| °l"\||\B’l BNONI ln intel- |¢- “"5 if ¢h9¥'\’-f0T9 lfllidl 0"* P"""".

_ut year nuunmqq IN Tum Utnvrmn whtch for thc most h-ht represent liizcnt measure of a country’s inter- lnently, not only in this country.but ‘ -f

’ ` . d. Th '

»- um- »~ ~r»~==» :ci :;:.:':...T.“:.:::'°..‘;°'1L"=' °: :.‘:'::..:.?::"f.‘;‘:.:‘:..:."°..:'°;L... is the Thief of

four years A raduniiy rising trend in buai $i0.l00.000 to $47l»900.000. I |.m8\H¢1 ° 7""

°'“t_.“_________ 5 ____ __ ___ _he Untmd ma" to _,eport that mute .hut from the three years ending 30th September our. traditions and high standards

ness a v y , hi h th

this bald hu been present in most of Dio Molsons Bank acquilltlilh *Nl M’ Tggae been ofnlihg :gk with ' C ey are Time

. $442,000,000 a a e

“"'“"“°“ |°°»°'“B’ |“°“°¢"‘°"- Wm' "‘° '°‘“"‘; """“"“' °',,,ft‘:,‘;_.'f"';,';‘ftt‘1,,°°,;,':,','§,‘1‘;," 1924 - . 440 ooo ooo Mr. Hebert then moved the vote of

of rf-»<=»=¢-on in-f---nr M - “vi 1° °"i°>' ° -‘ » rn. :'111-12211.:"':'11':1;i""""" ...'00 'un u... l. l. .

D.” to ‘bovm or ch” to hpirwlmn 132-:,lE"¢?|:iot;sB gltinegfamgii-Yh‘3` Pulp' and .papcrmpbciduction (Land Thelraxlstigbnwas adopted unani- "°°°f‘|U Th” ““d°"'"“° "fi “ 9"" shipments arc ahead of last ear. moully

1 u

MritY is avvarentll' sound. w_|th l!e3cl_:al___p_i;i:ll;:_.__ c___e___`______ M “ml 0____ e___________ __________ "___ ____l_______ Th. chlt_,m“,__..Oh behntf nt my

9"°°l “"5 l""‘f“" '“ 1'" mr "3"" °“ “ hav r _ collca ca and m self I am dee l.v "I5" "\ Wm” V°""~ °“ "’°°“nu°" ogmooo “;:_,.':°? ,»gi3?'?:g_.°T:;h':: 000.g00e;;\:e:n:i‘::n:‘::zcfl:‘i:\a:f;vi‘;ll lndepisill to you yfor this proofpof f°\' "W "“°" W" ¢°“°“°d ¢° ‘M t :ft 'avg t 5_8' he mutton of the $80,000,000 ten years ago. Atprennt your oo Mence in in and nur arl~ '°°‘l|'|U°l “"°"k°'- *"5 "°°‘ “uw Mt Y “B :K d nm the lu. or there is said to be a tendency to ministr ion ai' the Bank, which we Th! ¢°“'\'~T_¥_l_ ¢;`T“'V_‘::_:_¢_'_°_’_’a_ “xc x_‘;_:°“° ° 7'" g over-production in the newlprint have th honor to serve. Imay arid

are 6 c an Y ' '

traffic resulting from Oilr call loans in Canada and "::’_°'"_e

greater business activity. and abroad stand at $l84.000.000. an in- ad.

gin;-ing; which go with in crease of |l8,000,000 ac compared bw"

easing production and greater ex with A yell' lim- Pm' ango of goods, are substantially Our commercial loans in Canada "___

are $10,700,000 higher than at lint

has Octobur, 1924. but in this we must

take into consideration that with

tes the Molson! Bank we acquired about

|ll.000,000 of current loana and dis- counts. Loans of this clan for all Canadian banks are 368,000,000 low- li"than I A30;

"nl" 1l¢°l'~ 011 the other band. at Our purcbus of the Holman Bank w i als

_ ,. ' I o advance -

louai accumulation uf savings ,hai brought about an increase in bank ‘Th ii h ' ' It "en" 1° m° th" w° 'h°“ld been n.“te_._ 0 I |l\_8 industry on both the be filled with pride for the great

_ pi-amino account from $9,800,000 to Atlantic and Pacific aeaboards has achievement; and accom ii., m ii

1 O ` I i. O Q ‘

COND|'l‘loN5 |11 Eugopn $lB.0ii0.000,uincs reduced by $500,000. bad- a. better year. thi El nk h D h em a I W `

E||¢°m-lhhtg hrozrui hu been fogoellda r;oav_l_f0ha| one branch bank Lunlberlng results have been un yeasrs :one tx, :ia§ehfK~lin;h:i,T:':K , .

M t - mule during the ye” t d th y . beanie. as cvmlund lelllfecwry. European and ol-i ti l e. h I

ee restoration of intornatio‘d:lu;q.“tmf with one bank for every 3,700 per- export business 'has fallen air'/‘ag irlrlyhcigvrgar siagigcgsotrszgegrgnlgdfhg

:>_rium. The mqgyiiopefui portant ts :_‘;i_;:y|l\a |_;7_;\__|_:_i::__BmiB_i;__i;l;l_d___$l' :_!0I&dl_t_i_ona in the coal helds. the Shareholders, and all interested ill

, ie successful termination of the ' " “ ° A""°"|°“" “"5 d°m"“|¢ '-0.3 B°"|$» by Ulf! G¢l\%i'l| MRYIHKGF-

lltown gradual expansion in r The eemumant of The service which the public re- marking time. Textiles have recov- lil wi liln he D '

scent ' international a' t t various de artme t

bliagrsugizllfie md titfilf I0 contribute in wa' |“d°b"°d"°" hu "M Dr°°°°d°d 202;. btgoonflld 'gba ll,l::rl;ell|;ni¢inic'ludeI' elredl "lun lack of-demand and “hp M ‘he'Ba"k' ann" at Hind Otgcx ___ Canada .le§1_Dor_lsai,gar proportion ¢_:\_:|§_e0_:0ds=.tis_!_i_1ct;>rliy, and it lp to __________y "fd c°_________________ has __e:‘_f__;>__ :__\_;<:_€f. __¢;_\\;__2r1§_¢:s._e ___Iron__and_ateei_or throughout the branches, some

e . - o ave -

The import side of trade returns st"-bully. Christ b‘;|0';-TTFJE girysrgf in many of these extra facilities be- mittsntiy idle and active, evlarilthmiierzl-

calls for no gpB¢i,,| comment stnee ment, wt" he completed betwgan ing extended below cost. This is a satisfactory results. Woollen, laugh.

miarch leg; impmt, have Hun ”s__ the Umted State! and Francs _md feature of the banking business ar. and the boot and shoe industries t 000 W 5 will Of $533 820 000 the that the conditional settlement ar- which u nm' comm” tu ‘mr ow" have had an "““'~|'f‘°¢°"V Y°°~"-- c|_;Cl'¢mle occurring in all classes 0| Ylved -at between Great Britain and °°;“"_ry'm b d - Wh” °“'p“t °f °“¢°m°b"°B hill been

m"\0diti¢u. This may be accepthdilirapco will be ratified. ‘U ‘" ° “es ° "°“ l“"d 1" me """“‘mV °“ *hi* IMFSUB- Wlwlfsaie

us an |ndf¢,5gi¢m,of the modern” tm Trade hu been m.__\¢-ed by .°_____ ni_ted States continue to progress dealers in dry goods, ,gl-0cer|np_ and _|;:‘;;_'°'_:_'_*i;|f__ in hlislness the country :_h°’”l‘ °°“fl'llls. coal, sliipplng,ahlp- °“;'__’f‘:j:'_‘_’:_"|Y- _____o__g__ _ the _ 7\Hl‘_¢;|WBI;_e _cgnaplain of lack of turn- C atterly set in ilildinlz. iron and steel and cotton ` °“ °“ y°°' We °'" “ °“““'° |"'°"¢"~

Pnnmuuvlos Annnmsh Yet, anti” vwty though the nz hhvhlg experienced very _ea-__ ume___ ,the short loan and discount markets You will find in our published re-

_ __ B _ P ures of foreign trade thus appear While on the other hand other "__ have 'been under the influence ofex- ports our views in detail regarding

VincB_;§___l:_:_f_‘:d '~____” _\_*_=;;_e__;'i;' the nonniiwion |,, trrestulble that' dustrtea have .enjoyed ________"_________y_ traneous circumstances. which have trade in our nine Provinces.

it E the situation wth be betmred when In gehemt B more hopeful _,__________ made the trend diiiicult to- forecast. You will gather from the forego.

een age o its forest and mineral British trade and signs are not 'A ve' n sp e 0 9 “C “I 8’ rev ew were “El 0|” B0 E001! nur

__ ifteviva ;:;1_ix_;>_t;i_i;ry fol m» _we_______ ___ the form or __n_____ed ______c w________g or __ __ev______ ___ b__s___e_____ she Idlaétk if Eniiland Brute wast rf- .ho badtas gxtramists on either side

es and not of law material to bs In France. thé influence of politics “ce y " ages mm per een' 0 ave B me ‘ As to the °“U,0ok. it

added to the Board dur fuhrtcated abroad has “nod ___ tho w__ of _ _ 4 per cent., a.nd the substantial re- is true that, taking the national

Y mprove

ihiaratl_'hr;:_<;0:'_:_pr::E;lst_ai_t_tv:_s |_A"0l_“ AN" ‘VAGES ment In the hnanctul Bltuauon and gerves wo_m=al_|ltaln___:_n Lol_i:It;n have hai_lways into account, we are not

prov c the mttur 1, "_ ' een emp eye w sa s ac ory aanc ngournational budget. 'This ,tt-nngth-Mi' Thomas Ahearn Since the wal, labour's position Loan has eletlt tilt; ’lreif;l?l1>|li‘77>fG:|m Profit. Last week the Bank rate was must not continue. _Wo must soma. __ W Mcconnen and Mr hy tt 0,, this c0"ttn,_m has been mater heavy F__e__ch nomtng _“___ ____________ returned to 5 per cent. time and somehow contrive to live

1 feel that the Hank is foi illlly bett\red both as rogiards In ed. The immense importance that Now that the dollar-sterling ex- within our means and begin to pay in having scenic-d tho able :ruins and llvinl: conditions Forces the financial and economic position change I" sable around the amd D" our debts' with 'g°°d m°"“g“' of those gentlemen to ny: lavs been opnrugiitg that have “_ of Frnnw h____ ________ the E______D______ point, one impediment to the issueiment of our affairs we slbuld be th direction uf tho Hanks fvvled 8. more genr-mi distribution Btttmttoh as __ whole tmpels _______uf Canadian securities In London well able to do this, and we will do and the proteetioil of your oh f|u_its of piuspelity in the earnest hope that a way wlii ha 'las :een removed, and we are that,It as soon as our people wake up to

P H ll yiurii than ever before on; found out of th., country.” many nluc nearer the time when our Lon- the fact that public debt is a burden

since our last meeting the fiittoi supporting this is the ,greater diificlilties in the neur future d°" omce can "gm" °"g“g° In Wm" nn the '"dW'd"°| bad( ‘md that the

ur the iiloisons Bank wcilliicul <~ii‘ir|i-ncy of production Let mc, in cioslna' say one word '" "W "M" hm’ hee" ““ ""”"""“""""gg" ‘t 5"” me '"°“’ '“°“”Y 1*

zed a_t__tln-_§p_;~L|u: h1_lll_f;h__a_llo\\;_s_hil;ii_er wages without about tho future. _ I" realize that :incurs artthfh; acflvltiesh Thi eff; t“‘,;aB 5'," "fain: md|"d"“] p"°k“°' on 0 | 0 o n onu f y ncremied pt-mes D I I '_ _ _ _ 1 'go nga ns f orc gn an co oil a 0 ls en venture to repeat ag been accom The must tangible evidences of this o\ri(spv?;l):.ulf::,ali\l|:l| I\mifl:i:l¢h:z:::y loans was recently lifted, and issu- here what I have said before, that

ga/eg this__in:|l_i;rtant Dl0HD“l'_<_ill_s__stata ale seen in the safely say that the signs are pro- if ortloannf Wm ‘ie g°"_;="_'_‘ed “°__W 3"’ iYTle'“llé|¢ DUb||Ci1ii0ll by U1” a t. ma era y tt, iinpuhtt ef. rate at whmh savings p|Uo_____ “___ ____ __x_____________ ___ b_____ lo aw u suppy an elnan . om nun overnmenf. of concise

system and whth. th.. are acciiinulatiniz. also in the Dur nvss during th. » t , present, sound Canadian securities and readily understood figures nm.

igimk uimirohniquiu rehoivfui I-ilase on an i,,¢,~¢.,,,,|,,g ,tene f After "___ g__e;,_":_','_r_'__'_‘_§' _?'_e‘;;‘2__2___ can be placed on this side of the At- bracing all the national liabilities

price for theii holdings. I ani "Milly comnlod-ities and in-tic|,,,, when huge |o_,______ w____e made _0w______ iantie on a basis very favorable to would stimulate a healthy public

,my that with thc egonominu folmerly eimruiiinri up ittxhrtes Th.. to dt,m.,_,_t__u____ '__ v__|__e___ __ h____d_ the borrower, but the time will interest in this matter.

ti|,|,,\_|-p,tlg|| gm] Upupgtion nf large buying- Down, of the wage 0_nm__u_ pultcy wa” Bd________d _"___ surely come when London will again The awakening procssii la dlsap. through the ,,oh,,,,||datt_"_ nr ,.,,,n,.r nt m,.,,,,nt ht rptim-¢ .1 in shelves \vr-rc pmt-i,|c,t|iy ha,,e_ I___ be i-snorted to for loans. . riointingly slow, perhaps, because,

innnlloss with ouis, ilu- rr-sult~¢_il\; l>i<»~<_l_li-litv of the country -,roused activity in "uw in ,,,.|dt.,,,_.,. __U\'_l_L1;_f\d‘H;_ \\;_j_fsl End_Iir_r;ncllund uhs_t_ead hi' ;iv_ir_is': baiongside other the inw! Yiflif NIV” lH‘0V"n satis C<‘\>l¢ ni: to stutiwtlr-s compiled and forward buying is again he-ing W nn U “"1"” ""“"‘"*)- " 0"" “N ll y the war, we

i,y .,,,t|,,.,.., nitillpped ti make iilidoi'tui<i~|l th ri tv ____ l‘urii~i. continue to perform success- have as our only neigilboilr the

IIUNINIIIMIH (0NDl'l‘l0l\\i i’_'_‘_’_i:*i_ ~i_\;:_vi~y what ale colloiiulally caution and pl':::;7~fii`ei»fw an W I ".:,|,{?,;3lil;_i:;\i:r::.d‘0::::iirlirovnifilckig:-(i1)t Ti/ntitnonlullgifuifrsiw irimih Out; Dir :iw

‘ *i gas lavo iglmi- up mow The hm, ng __ "_ t. _ ‘__ - . ' ‘ . ‘.2 »" . il l s‘espct‘ o ii-

Nvitlwing the |,\|,;im.,,,t 0|' tht. than "__ cn" nr ||v|'_____ ___ _he ______t ________ ____ _:E _'___ ’___'_;___r_;°:_tr__;y winvenleiloe fur the travelling pub- United States, for ill(-ro is no oilihi' war, our Ilalailii- Sheet lndi- ti-il vt-ills Some uriiiips of labour pi.¢.iul|,|t-_ “ii nutlonut __x______d___________ iii-, foreign nation wo would prefer ilsn the m.ht\rai trend nf evoilts ale ir-r~¢~|v|",_t Wag,” of 100% mn” __ g__n______llv ________g___z____ _"__ ___________ in New York, the iinpurtanre ol’ lieighiiour, hilt hail we been living

tiipoiiitq, as compuieil with tivo (hun |_,." \.,.h,_,, h,_,_,t,_ ulthmtgh "___ _ ___ _,______w~____ by ___________'___________ __L____u__ our business ,gi‘n\vs apace. \Ve- ure amongst the war-ilnpoverlslled

“wh “how lt iurht. |n,_t,m.t._ wtlm, nf _“hh w__g_____ m____________d ___ wmch _____________ ___ ____d__c______ ___ ___x____ suitably represelltvd in (Till:-ago ailil \'0\llli.l‘|n-s of l.<]ill'ope. there would mn loans diillng the saint tiiiii-iiuqintt |,,,w,.,_ | much ‘mm we _____,______ ____________l It ____ __________ ____'___ Sun |<‘|~nnriHcu, und In Mexico we have boi-n no siioli nlnrkod coili.i‘i.isi. uit. 4-onsidonably lrdlrveil tllun that iilvroaso would imply ull illi-fl‘e¢-tivo gestiiri-‘ li’ our ox- have nv" brmwhea' "H nnnsannng and we womd dmlbnes” have "“"`" 1-ual <‘<»f\\'"__@H_i“|3|":"\“ "f “li roimiun rowlri 'ru-iolv n--ndiiin-eu uiiuulri ln- lu. controlled " "“',""'“"f_"'"" ""“""*"‘ “""“ ""“' "“'f,'f'-" ’e“"“"‘ "‘"` "W" """"‘""'“

n hunks ii tie iltl Si-ilteill _ U __ I t" , ` _ _ , _ serve iv ~ nes. con tion.

'Mt WH.. xthtiiioiiiiuqi h,w,t \i»ii may yi-lil" "ml [W0 ypgiu ___'_£_‘____“;__lx':_: :mg;m“’_?_?_b:___§:_2:lingo Ex1'ilani.;<- i»i.\Wi..~ll i‘anaiIin and Before tile war, conditions of ll\-_ lil thi- sums date in 192i ’I`l\ili “Iwi l r-»<|,|...,.4..d tht. v,,.“, that wtth ___p______d ___ _____ __n____d S_________ __ New York durinif; the year has been ing in ills United States and Canada tt, ,ht||h,..,,, tn ct.,.t_a|,t |h,,.., Ut lil if-turn or [gm-.,t,,.,,n ,Uuntrtes w_______ ______v_____ ____ _____________m__ _:_-_____ steady at i-lose to par. it is satis- were much alike, alld we had grown ______ __|____ '___ “___ "___, "___, "___ th th.. ,_¢,,|,| hh._,|,,_ t,,,m,m would “___” ___ _____________y and _______ ____ ____ factory to those. into;-ested in our accustomed to that orderof tililius; m,,h,.y ,.,,,.,.,,t|v nvmmbl hm, it-nl tho ..i‘fu¢~t,. ,,f |m.r,.n.,f.d cum __ _ _ ‘ f ' lillpurt trade and io those having but the war put us behind and put

_________ ___d________e__ _"___ _“___ p,.t|th," huth ih het t=0|,_,|__,“ Haut, "LUV" “id U’ "“’“|m“u"" and cm' rogliiar iilli-ri-sit volnmitmenbi lil the United States ahead so coin

i ii , l ~. »- ~ _ . ° ' , ~ ' ‘ - '

iiolimini-nt loans fiom the pull- “"4 Lit iioini- This competition. (t;::r?:,t_m\\\v|:c::, ?(:,,qgf,U;__,wB}:`r(f:__;Tya:__ N"W ‘Unk UU-il UW lluyiiig P1111' of Dl1|‘|90l\ Hi D11”-HGH! in futile.

__________y ____ ____gu___________ "___" “h|t.h th "uh h,.c,_m|m_, tnc|e____,tng_ _ can _hm _______ m__'____________ ___ pr______ nxoilangi- has iieeonle normal. Tim This same condition of prospel-|l,\. ,,,,,,,|thm to tt h,,|m_ which pn. Iv appiiieili. I nlniie posh ble __n___,_ and ______________v ’_________a ____ __x___r_ exporter luis lust an advantage, but in the United States has nlsolw-s\lit~ thilll to carly on without tin' '-"""'“h \"W |“"“‘"` “"*"°"- ”°"P|"d 4-lsed I do not do so wltll an' feel- um rmurn m par N' Ur cmwm' bm" nd In mr mo many or ‘mr D°°p'(` ______k b_____,(_wt_______ with tht. |t,,,g,.,. hom., "hd gt-hater 'mr' ihnt __l_____ ____ ______n_____c__ 3_'n ti-l' for the country as a whole, and vrossing the border. Tl'ui>,Canada is

ilui profits are in conseqllencr' |"d“"UV UNIV- DTCWIU in European (.mmt,.v |,_____l'_, ‘___ w_'_______;____d '___ _ --iiuillization of the (‘.a|lu.dlan wltil not the only country whose citizens

hut have,-,,.3|y hfft.¢t9d_ but coiintri 's I _"__ ___0____ _'_____v_______d ___u_’_' __v____ £_‘;__' the American dollar is ci source oi' iil‘U ilflfllifliffi by the lll‘0-‘*l"‘l`lly 'If

iii left in an unusually stroni: I" "W -l‘""¥m"“‘~ "‘°"° “re °"W llc countrv actually and Ipotcn- wwwrul Sm'-MnMmn` Um Unmhd mums' but "peaking nw

lmsllioil to nlcet any calls which '-“"’ "V""“‘*"‘ “f "s°“l“` "Um th" Iiillv possesses such wealth and In uw Umwd Slum” u bmndpnlng 0"rHelvps`"mm hm hem a c“"”“f"r ,,,,r,,,.,,.,| tt,_.ti.,|ty tn tmdt. mm, serious innsr-q.|nnt~t.., of thh, c0m_ ______C;__'_______y _hm ____ _________e cm__m_ implovement has taken place in emlirratlon that is more dlsturilina |nu.l<i~ upon us Nutwithstandinl: §_"‘nU"" 0"" ‘lf Umm U* hy m“‘““` lm denied, and I di-preizlate more h`.m‘.n3Ns highsp“N1yvm'n"dgr"M_ um" tho met nmglt Llvmg "md tilts ionditions. ollr dividend and .rlllflwwm inq“"m'""" 'mP'"V“d 'lim stronlrlv explwssinlls nf oninlon M Umndonm In unmhrlymg mmm- quor' ‘tw "Mummy Bland in Chmmti lionus have been earned and taxes ;__‘E:`"_\ _|‘:'u":‘; *'flV§“l-Q "\U~l‘Nl\Pl'Y~ llused upon local conditions and ill- :mT:.|:l.;H:,,,l1l;.`t.;nt rT_“(;:tt"d I" H(;!;'.|";{.;'t0£1__pa_:_hi_U’\_:"3 nm tmnrte °x'_;"”‘_'di mm and we have “_ hniahco tt, ri i civic a iiliccr tlirnovcrd- H I h t ___ _ _ ___ -"0 . "H n ncreasei uint i l_ o e cuiin ry o a run _“___ |.___wm,d at .imnii mat Th.. Qthvt. hmhg of __ v:_\;__i__\_;n_____:is__h_;_;_=m:_v_h_itii____arr;0 l>:_:__ l-lcilrings. Credit resources llavi-not on our population from the filcti

__b_____m__"y h|__h ymtds ____ tt,nt,t,vt.,,.|,,| hoiititoti ,mt,,,~,. I am ___________v___ __ _ __ ___ - _ _ been ovff--taxed, and a some-whntlthnt at thc moment wearo can-yinlc

il blilled f l i " “" “" " “" "`“ hiizller call money rate has ruled ii heavy burden of debt, while o r

' investments hu\0 "lm "U '\¥`i5’l\F'.” ll On its ` . ` ' ' - i - \l

gZ‘__'_‘____ _"___ _____________l___ m,.,|t,, P f;’_‘:_“‘i“'~i““ fm "Wh fi -“f‘"U"\'=Y\l “¥` withou_t srtraln .nn suppiyf. Th? aver- h__eii;_hi»r_ii;_;_a_ o_verfinw witl_l w;-altll. -ii lim nocousit of ilnlunu nroilt am-iii: ,vv c/\i\i'rAl. IN canal: ' -- » _ “W” "“ f’ "" ““ ""’“"~" "" "6 ""“" K” “" "' ‘“""""‘°" W" "1"" "‘""" _____e___vq_“m_____Y___1__ no __D______ _wen ___ __ _ _ _ _ _ Af____r_iiKu;_l;g_e;t__l_r:___tll_;=__ ii__i:h_;eof___p_:‘_1;_ was 3.8.! as against 3.40 for tile pro- than th0y to oi'i`i-r to the ileslrllllli- __________y __e____0________8 "___ "___ __dvl______ C lar <; t li. Alni.ii_can zat on _l_1 W_____ _ _“___ _D vnu ___ _“___ _nat ment: vlous your. scttla_r_ w_ho wishes to no on the ___ _____ _____c_____ ____ “ook exchange annlia ina ileen ixplessed y _"___ _hm _ _oak fmwmd W____ _Revertillaf to the general situation land. _Land hunger is a human ili- _______________ visitors fiom overseas because of ___mo___ cu _me __ _ (_ (_ _ __ l lil Canada, during recent lllontlls stlnct We have good and vlieup

__ _ d demands for comme” the large sums of money cominiz " “C 0 ‘WB BS \| conflicting statements have h~en land in plenty, and eventually the

' . . . . , , _gf ~

“ “"3” from the United States for invest ‘""’- ' b - I I I -N ~ » ` / V

| h ~ pil iishtd broadcast, ranizinir fiom ilde of lmmlgiation will turn fn i

_'_‘:_'____f_:;n_‘_‘:___:(:_=:_d" Igggétwixtcr gut: ment in iuanufactolics and other THE GENEIIAI. INANAGEIUI4 rose coiur to hlack, respecting oul“dir0cti0n. on » "J _ _2

. _ ._ f - . , - _ . l~:t_._._,

' G . , .__ _. 1

l ‘- ~ . : ~` - f f - I. - 1 ' . 4 \ /1. , - . :.3

i s

that it ia a matter of regret that Mr. C. R. Hosmer, our senior direc- tor. In absent from this mcetina owing to a aevara illness. from which it is our hope hs will soon recover." \

Major-General the Hon.. S.. C..

Maw-burn than moved, seconded by tha I-Ion. Blr Lomcr Gouin, that the thanks of the meeting are hereby tendered to the General Manager, the Assistant General Manager, the Btlperintendents. the Managers and other ulcers of the Rank, lor im-ir

i_,0¢|_|-no Conferencm wmch _mould The Canadian town ia indeed small markets have bought lesl and his woitily staff gi-,Bum ,I parted of nanny "om that has not at iaaiit three branch In the manufacturing trades the when you consider thi; noni.

I 5 per cent These items imve European war bank' in """°°¢ °°mP°¢m°“ KGYIBNI policy hal been one of having some 616 branches, em loy

6.l41 men and women. it cannot bul impress one of the magnitude ti the undertaking. Upon the Assist- ant Gcnerai Manager, and their very efficient superintendents in charge oi’ districts and divisions, the won-

derful inspection staff. the _managers throughout Canada, _and upon thi- rlmk and file, rests a great work. The General Manager must be proud of the staff which is so faithful and zealous in discharge of their duty. and of the esprit de corps which exists in the Bank of Montreal."

Tile motion was carried, with ap-

clause.

in replying to this, the General

Manager. Sir Frederick William- Taylur. said:

"I have to tllank you for the con'~

sideratc and highly complimentary terms with jyhich you have refer- rcd to our stah"s services dilrlni; the past year. lt has taken time to absorb into olir system the enl- pluyees ol’ acquired banking institu- tions, but this gradual process ui ussllnliatioll has developed into an i-nllrely -iiatisfaetory whole. and l have ilo hesitation in stating that, all lil all. we have not only u nl'i»lt- eioss stuff, well organized, but as line it iludy of loyal, devoted and efficient men und women as any im-

polituilt iiilsint-ss i-o|\ci‘l'|l in this or in uny utiii-i‘ country."

Tile Ballot for the appointment of

Auditors and the eli-i-tion of I)I|'r-.ct-

ors for tll° ensuiilg' your was tileli proceeded with.

Tile Si:rlililli~i~rs appointed for th#

pul‘pusi> ri>pi.rii»d that itll-.~asrs..li.iule' llutcilisun, (.‘.A., nnil (I-.=oi'ge'(l. Mo- Ililnuiii, UA., w.-|~,. _lilly iil>D'>|'l!0" Auditors. and the loiiowllli: gentle- nli~n duly elected liiri-i~inrs:

'I`iionlu>i .\lleai‘n, ll. l~‘orilvs .~\ili.;’\i.~l.

IG. \\'_ lt'-nity. K.(‘.: ills llollnui' lIi~nr_v (‘o¢-ksllult, floilerul Artlliir

i‘iil`ri¢~. G,l‘.lii.il.. K.C.l¢.; H.'li. ilrlilll- lnond, G. li. I"ras<-r, Sir (!hi.lrls»siior-

don. tl.ll.l~I.; Sli' l.oiner Gouin. K.C. l\l.tl.; (‘. lt. llosnli-r, llarold Kenne- dy, J. \\'. lili~(‘onni>il, \\’illiam Mc- l\llisti»i'. l-‘. IC. Moredlill. K.C.; Sir \'lllci>nt l\li»i‘1=alit‘l, iinrt.; Major-Gen.

thi. lion. Q. (‘. lili-\vl>iil'n, (‘..l\i.G.: F..

\\'. lilolson. l.iei|I..-(‘<ii. Herbert Mul- son, i1,l\I.G.,M.k‘.; .Iiinlcs Stewart..

”l`ll-~ lllei-tim.: tllen terminated. At a silliseiilioni meeting: oi’ tile

I`iirei»\ol‘s, Sill' Vincent Iileredilll. ilnrt.. was l'e-elcvti-d Prirsiidenl. Hlld Sir (`l\liries Goriloli, G.I%.E., was rr- ,.i,.i-toil \’il~i»-i‘residi-lit.

_.___<-¢>-;-

HIS RUDE COMMENT.

“il illilik the new doctork-l a dllck,‘

she remarked coyiy.

"Weil, I 'wollidll’i go so-far as

thai." said her husband, “but I will

say .l’ve noticed a lillt of ‘tile lilillilk

about ili'nl."

_i_l___i__i»._-».__i-

WHEAT .

30 Walmmmfy and niiiiridiiligi *

' ri

I _

'Q Z' if ',*‘ 1;* ‘ -f -< .» _ , _

. ~-. 'v-. yd, ,__ ’__` ¢;'__ ¢_#_ :__ ~_,._»_ ._,,_ gt? .____. .

JY'

Christmas Suggestions

. Alley & Co., Limited

, .

ll" \VOMEN’S OVERSIIOES

.__,- 3 Buck]-es $2.75_ 4 Buckles, $3.00 and ` 2 SUHDS $3.75, and up to $4.50 for 5 Buck- `~.\/ ies Jersey Cloth. xy. C* C --

_`__ I)()("I`()l{.S' \Vl\'l‘ER.PRO()I<‘ BOOTS is These Boots are made of Black or \.»’ r Brown Calfsltin,fwit‘h two full soles and a \__, 5ll'P,ili'Sp English calf lined. New price $7.50 -_ _ _ Misses’ and Ohil‘dren’s Overshoes. lu Sizes 7 to 10 1-2 $2.00, 11 to 2 . . . . . .$2.25

__ \VOMEN’S WIIITIE KID EVENING .__ ._,,» SLIPPERS

One strap-cut,-out Pumps. Spanish .Tr_

Heels, suitable for weddings or ,evening

lo wear..........................$5.1

, » .i

_ l .tl ‘l

1 t i'

"._¢

‘J \’\'OMl']N’S SILVER CLOTH PUMPS

._ ,» Sizes 3 to 7, covered Spanish heels, Price .$0.50

_ _ I~`EL'l‘ SLIPPERS FOR TIIE FAMILY ‘f ~ Women’s $1.25, Men’s $1.35, Boys’ \,f $1.20, Small Boys’ 11 to to 13, $1.00 Misses

?_;_ 90c, Ohiidrell’s 80c, Women’s Felt Ju__l_iets

\\{l

PGI..-

‘ I

dl §*

It blooms in every clime!

All through the world the Xmas trees are blooming.

In torrid, temperate and frigid zones.

Same gift trees--but infinite variety of gift ideas.

And yet everywhere you’ll find that universal friendly token-

EVERSHARP.

Somehow a Xmas tree wouldn’t look right any- wher_e without an EVERSI-IARP or two in its branches.

Get one today. The world’s gift.

EVERSHARP

Don't put it off till tomar

row 'what can be done today. Drop in and no our wonder- ful display of Christmas Speoiaitiu_ Na left overs. Ally new. and up to the minute. Something for Father, Mother. Slater or, li-other. also Sweetheart,

Reasonable prices on every

article too numerous to more tion. Game and no today.

I'I. L. WORTIIY

services during the past year.

In speaking to `thi| resolution ltalor-General llowbaru buldz' i. I

_ l

onucairr -

- ~ ‘in ..~-i ..-J". ~-i,..'.,. ot.

I »’ ' f ~-` HOCKEY BOOTS

W Lightning Hitch pattern, Men’s $3.95, \_,» Boys $3.50. Small Boys $3.00, Girls _ . $3.50

lj ' f `I'.l\DIES’ IIOSIERY t, Wool, 90c, $1.25, and up.

Silk and wool $1.25, $1.50, $1.75. X3* All Silk,-_ 90c, $1.25, $1.50, $2.00. A

pretty Christmas Box fl'ee_

.\__.'

{_,» -SNOW sliiol-:s » I _ _ Witih thongs and toe-straps complete. 1" Boys’ $4.00, Men’s $4.50, Women’s $3.75, if Girls’ $3.00. _

\ l M()CCA:SINS ___,- _ Bucksltill, Men’s $2.00, Women’s $1.60 .3 Girls’ _$1.30, Boys’ $1.60, Ohi1dren’s,75c. -ii Oil Tanned, for hard wear, Men’s $2.3( -.__¢ Boys’ $1.85, Small Boys 11 to 13, $1.50.

Ohii'1’s $1.35,

ly _. __. _ ,

\\’0.\iEN’s_l¢i..\UK SATIN PUMPS Two strap, covered military lieeis $5.50 Other styles and prices. _

_~.‘ l\Il<}N‘i~l KID SLIPPERS

tt, Black. $3.00, Brown $3.50, Browil f Romeo Slippers with elastic sides only $3.50

\_\f

_“__ \VOMEN’S FELT BOOTS

`~` With leather soles and Kid Foxed

\_u

‘lp ,W , ._i

Heavy Felt with all felt soles, (the only

really warm bool. for driving) . . . . . . $2-50

MEN’S FELT BOOTS

Light leather soles, to wear wiilh over-

shoes, $2.65. Also all fe_lt, wit/'ll felt soles, _ _, very _comfortable for driving or exposed " posli;lons_ Only.................$2-65

J;_" 4,11

"._{ v

\\'OMEN’S KID BOUDOIR SLIBPERS

4-’ In all fancy leathers 'and colours, Pon- pontomatcil....................$1.50

SKIS __ V, With Norwegian harness, comiliete >= $6.50‘an'd....................... 7-50

Bamboopoles $1.00 eucli

_-‘~ 25 p. c. DISCOUNT _ On the balance of our Natural 'I‘red “ Shoes, until all are cleared out, if your size

2" is here a bargain awiaibs you. _

ALLE ...lla

_FAsi-iioi~iAal_E ` FOOTWEAR

CIIARLOTTETOWN, P. E. I. -

Post Free

),;'_,