rd ‘_

§-iiawers @y.fiC/wrina. . than dine

,lx . ,,_ -_ , _ J-_ _ . . f . ..,, ___ 1 , `. .._.__§____,

»~

E ii iL01"rE'r WN U im rw

...ri.ai.ii°.c.r.ir.'a.i ' ~ .r ~ .. 1 ~ - A - W . _ me t,HARLo'r'1‘E'rowN, PRINCE ~nowAR1> ISLAND, CANADA, SATURDAY, JUNE 2, 1906. ¢,,,a,,<;v;<,s;,.e==;=,,»g,°;,~g,,,

. , Q’ i _ _ _ _~ _ 7 7 ’ _ __ _ _ _ _ _

hi. A . l V »‘ , M l _i 7 - . 5,1 .l V” -_ , _ 1 ,\i_--if - _ .,.

'= |_ _ ‘ , _

__ 1 l ,

- ` W' - . -sat-i in - - V

. ~ -/ , _

_ , " ctw _ ,_ `\ _ , " . v". _v - " - . ‘ .x .. r, _ ' 5 H '. 'nf 1 .- A , » ii .' *iw , i ~ _ z ' ~ ‘ ‘

1 2* _ . .i ' _ _ _ __ . ~. ' _ . .- _ ,~

‘ ' e ' _ ' ‘ $1. ' , _ ' . _ .

. , . v - w f . \ _ I .-

_ _

i l

, . . .

_ 'li i ' ‘ ‘ » 4 . 1 ; ,

i tit. I ` _ = 0 _ '

"_._. ‘sp _

' '=\=f»:i»~.-.~f» _ E- 1 .» -Lf , .

A D CA COMMERCETUNITE

' r .

fDetai`ls ,of the 'lratnsfer Having-Been Saiislaélorily Arranged, the Sum of $678,024 Was Pa-id Uver hy

the Latter Bank to the For mer amd Money Deposited to Credit of Shareholders.

The -Change

Marks an Epoch in the Commercial Histor ofThisPoi e”Wh° h' F tu t ° S ' th Ad t Aff dd b. th‘ Et-bl' h t

Y r vinc, ic is or naein ecuring e van ages ore y e sa is men

‘Here oi a Branch of One of the Strongest Banks in Canada, With a Paid Up Capital of $10,000,000, With `l`otal Assets of $100,000,000, and

at its Head Two of the Greatest Financiers in America, General Manager, Byron E. Walker, and Assistant General Manager, Alexander

Laird . The Prince Edward island Business Will be Administered as ilerletoiore, by Prince Edward island Men, J. M. Davison, the Capable

MHll`1li!€l‘» Will Continue in Charge. and the Former Ilirectors»Will Constitute an Advisory Board====There Will be no Change in the Libera and Progressive Policy Successfully 'Followed by the Late Merchants Bank.

is ` ' ‘ ~ '

To-day, June the first. ilie dest day of a month 'ln which many unions are nrpeiiy eireeten. the tier-eaaeir Bank or Prinlelll=¢lI\'<ll'l4dlll’ll»si the ‘Canadian Bank<alDeninerae\heoemeose. 'ras »euaeeeeom'at mt the am-. alssmelicu had been atrend 119°” was' onlie ia fran Puraxoa on February llfth. aadeince that time the serious ,shape ‘necessary 0°Wn\'fll l-11° iinai consummation of euchan import- ant change havehden 'going on

The eermeof' the merger as determined rr'zs.'°.v,i._l=.°,9lr9.<1iPr»_ hs'°_\1°°'= "'“‘°° by shesheiebeldere. who were Pl‘l°\lf° app. aeaplnioue inacpitsseiug their ap- plrvel of ihehbnelellh siweue arstiw sm. ser v c arena

one ci lbaJinspeotore ci the Canadian Bank of ljommeaca, and his slat! of competent len have been thoroughly exunlulns till bueiuele or ibsllerohants area eaderreiigiinz all the details in connection with the transfer. Today. thtfpggglmp Qdpgy Sl-X HUIIDIED ‘AID sr\l.lit1v»£l9li1° rtioussno aan TWll|'fV~FOUKl D0l.l.lR8-$61leae~-- was .pid and the amount deposited tothe oralit of the shareholders of the lsesebarnta Bank.

BEN!-FNB FRU/M THE CHANGE with one -et the-aaoet important

commercial changes in sbs history cf the Proiinnssbue tally oomDl°¢°'1. ll ll in order teeeusteer the iniiaeunee that iraveheeaglillaehe aliens* about. IM lzs_prohabls.ei_i'eos upon the business weleroidil li\ll4~

'rue nargadlaebeuk of Oornmrrre has aptly eeeesetaperefl io e mushy we tirmiy rooted in Toronto, with its branches extending over the Dominion, in all directions and covering all im- pirsanl points. They naturally lillelil nr.; lu Oaaaio. bei soon developed east- wsrdly. A'f\vr years ago the amalgam- mgn Wm; alia Halifax Banking Oom- paqy,-‘g“ QD ¢X0¢l|.8Ilt l’!p|‘llllllt~ ation of branches in Nova Bootie and New Brunswick. ‘Ali that remained to co»ue“iu-wap1‘rinoelawer'i Island, and tok, gggwlkan the greet saep.

it has ‘iisea eeateudea that western

bm" M* H yearly ee the local lnaaltgqgg tp assist the business ln~ lereaie of the lariiime Provinces, and l,iias'ghey'ai\ not deiirous ol leadia8 their * here. 'rite nm 0! UW- mermmnihis by _ei-eilhl that 01° suuegiyklk ‘ohllilhllll l’°P““"°“ armrest etitraeu ee reeds tn rw* riidlesmats-reqe\r¢n\¢l*'°f"*° '“°" cmtiieenaereeel -tu mu i>\\°° ll 4°" hnl\d\*.I`lhete.ls no reason wh! ii ,huu business .eiiered it in British Uolahbla. Manitoba. or Ont- “|°_,| aw ' img; guna dilersnll! rreiaaeulgel ala tin asartolae Prov- inces. iuenesérs ere \1°l°° °°

the bsnk'a busi- Obsrinttetown el

Toronto. 0'

autloul to

any

gm bg of advsuf iateretla in Prince

of lllbh K

as the

Canadian Bank ol Commerce, famous for its enterprise and progressive spirit, should be the means oi' turning the eyes ofthe capitalists to this province, and giviuga great stimulus to the much needed development of our rich agri- cultural resources.

EARNED OVER A MILLION DOLLARS LAST YEAR.

,crests with which it was called upon to dent it wet decided at the meeting to

BYRON E. WALKER

General Manager of The Canadim Bank

of Commerce.

Tha last general statement issued Nov-

ember 80th, 1005 shows the year's busi- ness in more detailed form _

itsrio nevstormsar; . When eriabllshed in 1867 it was under the directorate of Hon William He, Master, president; l-I S Howland vice ptseidlnl.. James Austln.Willlam Elliot. T Sutherland Btesner. and John Taylor- At sae oieee af iiie imc year the Pl" up capital was 0910.559 ‘"4 ‘h° 'lm 340990, in 1872 the capital had have twice increased and amounted to |51- 748,Bl4. In 1874 it was increased to Q6.- oeoooo with erretme reaa menutlnu

to 81.01°-00°

YH" by year it has gone on advancing

uniii nowflt stands in the forefront of Canadian financial institutions with total assets, as shown by the latest Government returns, of over $1,000_- 000,000.

This Bank has been closely identliied

with the industrial development of Canada, having financed many big ln- dusirial enterprises including the Dc-

hlm aseminentiy well qnaiided for his present nigh position.

Ke was born in Seneca, Ont, on Oct,

14111, 1848. After an education at the pulilic schools he began his business cateerin the privetehanking ciilce cf h1s'uuole.Jld Morton, Hamilton. In

`-July i8§8 he entered the service of me

Canadian-Bank of Commerce Hamilton,

grdnd banquets given in Halifax 1804, _audio Quebec 1808, by the Canadian bankers. Hn is e. trustee and a Senator of Toronto University, vice-president of the Canadian institute, a Fellow ol the Geological Society of England and of the Institute oi Bankers cf England, and a director of the Canada Life `In-

lsnrieoce Oo. Besides being a ready and if lr h lik is

as discount clerk, promoted accountant l ‘i°“v° Pubns 'pn M' e “°w“° °

_ AttheannualmeeiingheldonJon.9th.11111111011 U0" Md Sleflrlllii 0021 00. ll ‘ . ' ' asa writer of much ability. Among 1906,it was announced that the earnings Sydney. and is at present financing the ‘BtJ:)h°er°);°;;1‘_bg:!:;9 ;°;';';v`; his publications are “Tho Canadian rortneyearhadbeen $i_a'io,ie7. Adding Grs1_»dTrnvk Pwllio Railway ortieei- ~ . . . 7 ’ S seein or Brom " ana me --National to this the sum of S546 996 being the ‘ #EGM 0|’ the Bank in New York, mans- Binh” Bvmdl _gms Unhed Smeg ..

i _ ., _ _ _ , _ . _

°.':'"‘““ °:=‘*‘°":.:i°“ -“1°°”"”" A' "E "M ::'.:.:!;“..“m...~.”%.*:::.::i..::;°§z:::» ~~s--»-=-O---».f-»»-»»» t V year, t ey were abs alter prov ug -Btwn? ghnwd nd f . I t 1 . ‘ I , I ' fore the Oonmess of Bankers and Fin- for the ueusi dividend and for the con- of Huang; ha" ' M dennlfuoup I Us “QM it M3' Yon' “dt USM; Ink OM' suolers in Chicago, (1898). "A Canadian

gn e di 1886 , ' , .

trilhutlon so the Pension Fund to write Bunk of Oommemam "B “mise $:_mE: p|w;:;n&'N2:!;§;n°ml lshuncmgs view of the linarcial situation iii the U

' C no it ir-

Si19.28B, cf! Bank Premises and to comme om wat nh t I , . S" (1895) the section on .na n n

. b fl I ddi i h l i

‘dd u'°00'°°0’ 7° um RE" um” bringing to the Iabereholdlrfnudmxigabughhsd wnitlh tlite lil: :lltuldohbdhsoshnaglviisthgg' iw in “A hi"’°'7 °' b'°“"“ in “H ‘he “ up m *4’500'o00' Owing to the in' 00l11l11\1nl¢y. iouihedireots and controls he has re - l°°di”g ”“n°“°"(18“6) "Why Dann" crease ln- the volume 0! the bnnk’r , . ' ‘ on-garner Bl-metallica" and a renee ai

I ,

._M_h___“_ of me wide extent ov" _'mob ts presidents have been Bon William derled important service in the cause of pipe" on __E____l_v mm” Am"

li is spread, and of the diversity of in_ __ *___ ____,__ _ _ ,,

Noise of and Ohrquea on other Banks Balances due by' other Banks in Canada Balances dna by Agents in Great Britain Balances due ‘ty Agents ofthe Bank and

Call and Shost Loans

Other Current Loans and Discounts

Overdue Dslrls(lcis fully provided for) aeal‘lia~_ieie (dihbr than Bona Preirils-.a)

origlgee - t

Bank Premises _

Other Assets

NOVEMBER 30, |905

` LIABILIFIES

Deposit with Dominion Government for socurity of Note circulation

other Banks in foreign countries

Government donde, Municipal and other hoorltisa

cANAotiN BANK loo commence-"GENERAL sthrsmnvr

. / l

Notes ofthe Bank in oircolatlou S 8,738,670 68 urpceite not hearing- interest SIP 42-‘.088 84 Deposits hearing interest, inoludln g interost accrued to date 04 017,802 12

_ -- -- 74,378,490 96

Balances due toeiller Banire in Canada 128 H112, 02 Bllaricee dur so r=llbel‘» Burke lrrforeigr. sounttiis 395.477 112 Dividends un nniri 429 lil Dividend No 77, payable lst Decemh~r /i0 824 61 Capital paid up 010.000.0110 00 ,. fmt 4_5oo,ooo no

Balance of Prciii und hm: Account ourrltd forward 58.871 76

14,558,871 76

398,376, 597 62

,1 B_ "1 Q 3,09i,l176 80

lcllldlgisillon M013: 4377 539 75

5 8,200,116 (14

400.000 01

8,4110 517 07

“il 555 80

2_485.(i8i 31 1,042,220 85 5,711,102 T7 _ll,2b2,895 87

am_o8|i csc si' 64 805 041 40

|01 527 Sli 71,021; lil; 5| 378 41

1,000 ooo oo

10'.) B05 92

stie,iiic,eor in

B. E. WALKER, General lidauugirij'

Moilasier, 1867 _to 1886,- Henry W Darling, Etq, 1380 to 1890. and HW omg. A cox, ri-em. :soc to ine -present mm, 1'neeetuen'hsve..\eserveiil9 ete- .meo the Julius confidence M ll" W tire Canadian public., ' f- ~ -

'ihrpresont general mane!" BIN"

E \v,||,,»,\,||i.a_srna»|ecleieo with the 1 Bpuk almost sinceita incorporation ilud his-risen to his position through his 1 remarkable ability- lille one of the ilslshiert and abiest bankers of lhc country. His long training, his natural ww", al; metitedleei eau rludlonl babli.s,liisacquaiul.enoe willl business in Canadian cities as well as lu the Ml'

inele ei New rel-ir. mica to

Dsnadlan oaulring generally. At tra time cf she expiry of the bank chart-‘,

>9l*the~.labenrsia .streuoouslyand with

ccieesagaimtt an assimilation ei our tem ofbuuking with that of the

ltialiee amen. Laroramen the sensing'

hill of. 1801 was before the Canadian -Psrlielnent he was chosen by the banks

'of0ntarioae their oiilef ipokellallh

Blidfl that capacity impressed upon We Government the danger of eerlin ‘fea ares which they contemplated im-

.piilihg span the iaeliure.

li' Wilkes- has held many liouorary

position red was President of the Ohiidliiah Bahia!! Abeioiliion for two

goilgmglriiliu of a high order mark

yearei At mob he presided et the

l The assistant general manager Alexander Laird has also been lu the service of the Bank since its establishment! _ he is a native of Eooiiaud but has been a resid- ent ol this country for nearly forty years. He ls a men of wonderful capa- city for work and has a ibcrougbllgrasp of the grtat business that has been built ,np ty the institution. Possessed of the lbretvdueee, ca`uilon,eoundaesa of judg- mbntand the financial ability character- lsilc of ble race he has proved a worthy assistant to lir Weiker,the two sisnding in the front rank of the financiers of

dsnadn. The announcement that lfr I K Devi.

»i"T‘

son will be continusdias manngor of

‘the Charlottetown branch will he

received with general satisfaction by the Bank patrons. He Will he Well sup- ported by the agents at the various local centres - Bnmmerside, Sonris, Montague and Alhorton, and the present soaii’ will be retained in the employ cf the Bank as before.

The lest Board of Directors of the

Merchants Bans consisted of Pre- sident W A Weeks; Vice-president Frank Hearlz, (u son of the latu presl- dent) Premier Peters; J B Hinton of Sum'nerside,nnd A P ProWse,cf Murray Harbor, is son of the late Senator

Pro wse.

I I

Au advisory board for the Canadian

Bank of Commerce on Prince Edward Island will he neintiluted (rom among the members of this direct- orate, who are all men of well rcccgniz-` ed influence and high standing in the community.

Just after the negotiations in connec-

tion with the transfer had been ocnolud- d, Inspector Brown had dsiated in ine course of on interview that

-i

ALEXANDLR LAIRD

Assistant General Manager of The Cana diau Bank of Commerce.

"The affairs of the Merchants Bunk have been administered in a miiune which reflects the greatest credit on the directorate and management, and we are much pleased with the general char- acter ol! the loans. In cloaingiibe agree- ment of pnrchnte we made it one ni the conditions, -indeed the condition of paramount importance- -that those who have had to do with the _administration ci the Merchants Bank effeirl, should continue to direct the business ci th

Bank under sho new conditions. The

- 1

gentlemen lu question have deuionsirlte ed in the most marked manner, their fitness for their ,responsibility The executive at Toronto will seek to keep themselves fully informed regarding the Bank’s business interests here, but the oflicials als Charlottetown will be entrusted with the fullest measurtrot discretion."

N0 CHANGE IN l’0Ll\.`Y. '

The Bank of Commerce through in-

spector Bruwn also assures the public that there will he no change in the Policy. pursued by the merchants Bank with regard to its borrowing nustcmers. The conditions i‘n Prince Edward 1-iand‘ which is mainly an agricultural country are slm“ar to those which the Bank ha been familiar with in Oclario,and i` nat-ora ly views with favorthnt business'

the products of mixed farming. Ther interests ofthe Province and the inter ' esta of the Bank are to nlnrge extent identical, and the enterprising policy of the Canadian Bank of Commerce in re- lation to the development of Canada cannot fail to be exercised beueiiciol- ly with respect to the island. _ VARIOUS BENEFVIS OF 'illE

CHANGE. ~ r

In addition to tho bent ilclal iffecis on~

business of having invhie Prcvinceo branch of one of the largest banke.in

Canada with a capital of $10,000_000 and a reserve of $4,500,000, there is nn nd» vantage rc the community from the fact that employees have A much wider field for pbssibleprntnoiion in the event of their proving worthy of it. _. Another result lof the opt,-rnllon ut

such a large financial institution as the Canadian Bank of Commerce is llio equalization of the tate nt which money can ho borrowrd from the Yukon to Prince Edward island. In the United States borrowers are obliged to puy from one to two per cent per mcuth, in Cano- da and no advantage can bc taken cf local conditions. People who rlrseivc cmrlit. will receive it at every ngcurv of the

jCa|.'i\dlnn Bunk oi' Ccuiutoriu in tho

Dominion.

rits New oirlisk or iiimos.

The new handsome notes oi ilic (‘ ti-

|ariian Bank ofCouil1ierce haw lweri in circulation in the Province sinflc lim middle of May. Notes of the .iicrclinnti-t . Bank ure heicg destroyed by burning nit , soon aathey are refieerned, but accord- ing to the honking llaws cf llnrrnda all Merchants Bank notes are worth their face value as long as they src lu,circula- | tion.

The confidence placed in the Conn-

diau Bank of Commerce is indicated by the fact that many of the shareholders of the Merchants Bank are taking stock in the former -

The Psfstofr in common with all who

are desirous of seeing our province ‘progress and prosper bespenlrs for the new Bank the generous patronage due to its enterprise lu hringi into thi 5

. fiald its immense capital, and ihero is no

'reason why the patrone who have in-an eccotdei satisfactory treatment by the Merchants Bank s'nould°noi continue to patronize the Charlottetown branch of the Canadian Bank of Ccnrrrierec. ii branch conducted with an advisory board of Prince Edward Islanders and e Prince Edward Irland manager.

iilssueis in Two iSec“tio““nsl;--#Be Sure You Get The Whole.Paper

which rests directly and indirectly on ‘

l W;

if ‘l

. 1 l

t r li

1. .1

e.-'.~,»=_..~

._ ,it

y..~...A

rf ef -sr..

_ . e _ ;.-in-‘fa -.er

4,. ......-

I ,

earn.-. ,.1.,_,,

~..,A..-...,e...A..e.,.1._.....-,

1 an