DECEMBER 6. 1949 ________

GREENDAL SPEBIALS

riiil TlllS WEEK!

arrows

WINTER COATS reduced 25%

Group of slightly soiled Dresses includ- ing wedding, evening, dinner and after- noon styles. Come early for best choice as these are real bargains. Regular to

$49.50. — Clearing at

10.00 ' The GREEN AL 0o. Ltd.

LADIES‘ WEAR b 99 Queen Street

LOWER . PRICE STORE

Ladies’ Lace Trimmed SLIPS. Reg. $4.50. Spec. . $8.95 Lace PANTIES, pink and white. Reg. $1.69. Spec. $1.25 Ladies’ Satin NIGHTIES, pink, white and blue,

Reg. $4.50. Special . . . . . . . . . . . . . . . . . . . . . . . . . $3.95

Gothic BRAS, white only. . . . . . . . . . . . . . 89c and $1.00 Ladies’ striped and plain Flannelette -

PYJAMAS . . . . . . . . . . . . . . . . . .. . . . . . $2.98 to $3.03 Ladies’ Wool GIDVES, all colors . . . . . . . . . . $1.49 ChildreifmWool GLOVES and MITTS .. 49c to $1.00 NYLON HOSIERY . . . . . . . . . . .. $1.59, $1.65, $1.95

Clearing line of Ladies’ BLOUSES, all colors.

Special . . . . . . . . $135

. . . . . . . . . .. ..-¢--|'u------

SPECIALS

Children's Crepe DRESSES . . . . . . . . . . . . . . . . . $1.49 Children’s BATH ROBES. Sizes 2 to 6 yrs. Spec. $1.49 Men’s fancy all wool HOSE. Reg. $1.50. Special $1.00 Men's TIES, plains and fancy. Reg. to $1.75. Spec. $1.00 Men’s Sleeveless SWEATERS. Reg. to $5.95. Spec. $2.95 Men's DRESS SHIRTS. Special . . . . . . . . . . . .. $1.95 Men’s heavy Docskln SHIRTS, reg. $3.50. Spec. $2.95

Men's wool DRESSING GOWNS, small size only. Regular $16.95. Special . . . . . . . . . . . . . . . . . . . . $6.95

Men's plaid JAG SHIRTS. Reg. $7.95. Special $5.95 Men's Lined DRESS GLOVES. Special . . . . . . $1.95

ALL ABOVE SPECIALS CHRISTMAS BOXED

SEE OUR WINDOW DISPLAY FOR ADDITIONAL BARGAINS

ii ll E E ll D A L ’ S LOWER PRICE stone

All Ladies‘ Fur and Fur Trimmed i

101 QUEEN STREET

i...

PIUSVILLE 8C H0 0L Senior Department

IIIIIIII!

Gallant. Grade VI - 1. Norms. Brown, a. Rita Gallant, S. Annette Gallant. Grade V — 1. Bobby Gallant, 2.

‘m! g/III - 1. Clarissa Gal- Esther Gallant. 3. Dale Oorcoran. at,“ P‘ orma. Ooreoran, 3. Bern- Highest average -_ Norm; Brown "wi- 945 per cent.

ﬁnds vn - i. Raymond ioai- Anita M. Gul-

T h — . ‘m’ a‘ Ann‘ Gallant. a. “ﬂed eac er rm

lent (Peters).

44A a

"WW Willi

ROYAL PORTABLE

B)’ Ill means choose the gift that's really Royal - a standard typewriter in truly portable sine - the Grly Magic Royal! With all these new exclusive features — and many more besides -'"

0 Finger-Flow Keys . e Speed Spacer a Rapid Ribbon OIIIIQI e Soft Grey Color o "Magic" Marita "Magic" is s trail!!!“ ma°mﬂi 9‘ l!!!“ Typewriter Co. Limited.

F. A. McCOURT

I82 QUEEN T.

CHARUOTIETOWN PIONI IIIO

_ ivluNTaE-AL. Dec. ll — Canada's "”3°T°u5 Program of industrial expansion" was. in large part, off- ieil-IHE recessive inﬂuences, ob- served B. C. Gardner, president of the Bank of Montreal, at the l32nd annual meeting today. He compared the devit-alizing effects of “an addiction to nationalization of industry," wilih the “vast. re- servoir of energy" which incen- tives for the individual could re- lease.

For the first time in the bank's year-end report, both resources and deposits had passed the two- billion dollar mark Gordon R. Ball, general manager, told share- holders. Total assets stood at $2,- l40,000,000, total deposits at $2,- 0l9,000,000. Savings deposits alone exceeded one billion dollars "for the first time in the history of any Canadian bank." Current loan; and discounts in Canada also amounted to the all-time high in year-end figures of $442,000,000. Price influences had achieved “something approaching a bal- ance of forces," Mr. Gardner said. The balance, however, was pre- carious and could easily be tipped in either d-ircciion, A recurrence of the wage-price spiral, could have grave consequences and he hoped that Canada was entering a phase in wrhich public treasury re- quirements would no longcr be of such a size that they could onily be financed by “methods involving in- ﬂationary pressure" or “repressive taxation."

Renewed Competition in Business

Although the accumulated de- mand of wartime and depression had "pretty wcll spent its force,” the president stressed that, with high employment and wide distri- bution of income, Canadian con- suming capacity was "far larger than was thought possible s few years ago." Competition, effici- ency, quality and salesmanship were regaining their normal place. He felt convinced that most busi- nessmen realized the desirability of healthy competitive conditions as contrasted with the excesses of a boom.

The most noteworthy feature otf Canadian business this year was its “relative stability," compared with developments in the United States, Mr. Gardner stated. In Canada, in large part offsetting recessive influences, "we have a vigorous program of industrial ex- pansion, "we are rc-discovcring our own frontier" in natural resources. ‘Ilhe B of M president suggested Canada was undergoing a dynamic growth not unlike that of the Un- ited States after World War I.

Recessive inﬂuences Offset By Canada's industrial Growth ---B. 0f M. President Gardner

Incentives for the Individual Encourage Productivity- State Paternslism saps it.

GORDON R. BALL, GENERAL MANAGER, REPORTS RECORD ASSETS DEPOSITS BOTH ' OVER TWO BILLION

served "by permitting a range of variation in exchange rates," cush- ioned perhaps by a stabilization fund to prevent ciolent short-term fluctuations.

Affirming the "general agree- ment" on the need to raise pro- ductivity in dollar-short countries, the president questioned whether “an addiction to nationalization of industry" would encourage ‘the flow of domestic or international investment. He was concerned about the eon equences of "an ex- aggerated State paternalism which blurs the vital connection between eififort and reward. There was, he said, a vast reservoir of energy releasable in incentives which im- pelled the individual to improve his position in life. These stim- ulated adaptabllity and inventive genius. The great task of the pre- sent was to provide an environ- ment in which these fundamental forces might be put tQ work.

General Manager's Address

Growing deposit liabilities had made it desirable for the bank to transfer $4,000.000 to the reserve fund. Mr. Ball told shareholders in his address. The B of M was in a "highly liquid position." wi-th quickly realizable assets equival- ent to 78 per cent of public liab- ilities.

Commenting upon the numlber o? concerns showing "stationary or declining profits on a substantial 1y increased volume of business." the general manager drew atten- tion to the importance of business- men re-examining their “break- even” points and recognizing the need for efficiency and economy I-Ie also felt that reduced tax rates should be applied to ‘a higher level of profits than the present amount of $10,000." The maximum amount of earnings he said, should be ploughed bnolt into smell busi- nosses.

Loans Doubled In Decade

"In i939 we had about a mil- lion current and savings accounts on our books," Mr. Ball recalled. "We now have over 1,750,000 ac- counts." Loan accounts had more than doubled in number. All types of banking transactions show- c-d "commensurate increase." Per- sonnel totallcd 0.700, compared with 6,000 in 1939. The number of shareholders had also doubled. “and we arc naturally glad to see this wider share-ownership in our institution."

“We try to keep constantly in mind that the bank is not pri- marily an impressive row of fig- ures or an imposing building." he said. "We think rather of the ban-k

Slate Planning Dlstorts World Economic Order

“For more than s generation the processes of industry. commerce and investment have, in one way or another, been brought into suib- servience to the State," the presi- dent emphasized. "The concept of an international economic order has lost reality and, for many peo- ple, it is not even sri ideal." In its place has arisen a collection of plans and policies aimed at achieving national well-being through governmental interven- tion. International-ly, such plans often sought stability at home by creating instability elsewhere.

Turning to the dollar problem, the speaker assessed the broad trend as being toward "a closer balance in trade with our near- est neighbour“ and. "almost in- evitably", a contraction of exports to important and traditional over- seas markets.

Mr. Gardner said that. since the dcvaluatrd rates of exchange lied been established by governmental fiat. lhcrc could be no assurance that they would accurately re- flect comiparntivc costs and prices in the countries concerned. The expansion oi iradc might be better

as the local manager and his staff. on whom our customers can ni- ways call for friendly counsel and service." Mor than a mil- lion and a half cu omcrs "know that it is not money alone they deal in when they come to us." A man's relationship with his hank manager was "a highly personal one." Behind this confidential re- lationship stood the resources of "a nation-wide" institution, so that strength was linked with "under- standing in the service of the in- diviclual."

Discussing the prgnpect of busi- ness continuing at it: present high level. Mr. Ball suggested that ideas of what constitutes s nor- mal year might we'll be revised. From 1938 to 194B. Canada's pop- ulation had grown by l5 per cent. but increases of between 70 and 80 per cent had been recorded in in- dustrial employment and in the physical quantity of goods pro- duced. consumed, imported and exported. The Canadian economy had attained a size and momen- tum of its own "that perhaps wc fail wholly to realize."

The general manager concluded by praising the staff for "untiring ﬁlﬂfly." Arrangements for their welfare and progress. he said wcrc

Hair is “Catch-Aii" (or Dust, Dirt, Smoke in the Air

Your hair collects more dirt in one hour than your entire body does in a day. Actual tests prove this.

You should wash your hair at least once a week to keeg the scalp clean, healthy‘ an free from that almost invisible film made up of scalp oil,_per- spiration, dried slun articles, dust and smoke. waxy accumulation may ﬂt as closely over your head as s plastic skuii-cap-sealin theporesand cutting o0‘ no hmenrﬁom the hair.

Dnndruﬁ‘ or an excess of falling hair often warn you of this-and tell you your hsirand scalp need immediate attention.

Simply dissolve and wash sway l dirt and dandruff with Fitch Dandruff Remover Shampoo-the only shampoo

lire You Wearing a Skull-Gap oi lliri on Your Scalp‘!

ﬁgsmnleed to remove dandruff. tch is stimulating and refresh- ‘iti? é“f..‘°.i“’“’°°‘“'° i.“ g own into t e thousands of tin hair openings in your scalp. t: leaves them ant. septically clean--able to breathe free y again so your hair can grow lustrous, healthy and alive-looking.

Prove It Yourself

Got Etch Dandruff Remover hsmpoo for healthy, good- 100 hair-try the economy Ii", Be proud of your hair —st.srt Fitch care tonight.

Dandruff Remover SHAMPOO n

"fl-IE GUARDIAN. CI-IARLOTTETOWN

iutiuuaie Christmas Gifts

kept under constant review, with special considegation given to changes in living costs end the personal problems involved in transfers. The bank made sub- stantial contributions to the Pen~ sion Fund Society and to group life, sickness and accident insur- ance. The siatf, Mr. Bal-l said, were the bank's "greatest asset.“

MULBERRY MOVED The mulberry tree, native to Persia, was introduced to Britain in the 18th century.

NOSE BULBS

iiiven Fast Relief

When you are sneezing, eyes run- ning, nostrils all clogged up-thai’: the time to use Cstsrrh-o-itme; it arrests the dﬂchsrge and helps you to breathe more freely. Best of all it helps to exterminate many of the nasty symptoms of cold. AdVﬂhClYlR caterrh ls promptly treated. Sinus pain over the eyes is eased, a wens throat is given help, huskiness in the voice is dissipated, spitting and nasal discharge are no longer such a problem. Get Cltarrh-o-mno to day from your drugglst in 35c and 75c sizes.

WITH

New Lux Soap

This week Lever Brothers Limit- ed introduced an entirely new pro- duct to the Canadian market under the brnnd name of New Lux. it was announced by Mr. J. L. Damp- ier, Director.

Mr. Dampier stated that New Lux now has added power to do nil the family wash while still re- taining the properties which have always made Lux safe for the very finest materials.

New Lux is now in fine granular form produced by the "Jet-Bloxvn" process which has been perfected only alter intensive research anti cxxperimentation. The new men- ufncturlng process facilitates pre- cision control of the size of the granules to optimum requirements. It eliminates soap dust, or “fines", and ensures s. product of uniform quality.

Each package now contains 40 per cent more soap at no additions! cost to the consum . This economy combined with the added power means that it becomes one of the most economical and-most. efficient

PLEASE Y0iIR rmsuns‘

FROM

PATTERSON’S

JEWELLERY STORE

all-purpose soaps On the market.

GIFTS

Always

hosiery gifts irom teen to granny-age! Sheer nylons, snug wool Bed Jackets, luxuriously quilted slips and gowns . -. . all at little-

money pricesi

The GLORIA

LADIES‘ I79 Grafton St.

welcome

and

_-|

lingerie

for everyone

robes, lacy

WEAR _

THE PONTES STILL RUN

Polo is one of the oldest games; it was played in Persia before 500 3-00 guincns for the nulogrnpli 0

B. O.

VALUABLP. SIGNATURE

In 1858 the British Niuseum p - .

Vliilllnm Shakespeare.

ES, Bras d'Or Coal is CLEAN Coai

. . . thoroughly oil-treated at Our

Big Modern Colliery. This means

Brighter Homes, Oiiices, Classrooms, Churches or wherever‘

Bras d'Or is used because THERE'S NO DUST and no chance oi rust on Stoker Parts.

And, being properly graded into the best sizes lor combus~

e OIL"... TREATED I i .

-i

tion Bras d'Or gives you MORE HEAT Pet Ton

Best oi all, because it is DUSTLESS,» gives MORE HEAT and has a LOW ASH CONTENT, Bras d'Or means real ECONOMY-wind that's mighty import- _ ant these days! So be warm this Winston-buy Bras d'Ori i