._ .--.<--<r.

mun UA I ,

"n-w’: . w... wppnﬂlnlly II p» m n1 v risr uuutv- uln .1 l...» o... m...“ n..- ml: m “wit, i841 Ill-zen m.» qiiu|iIv-—u|ul w Jim... . ....¢J i...“ “(I um..- m...

‘u... nil-NE VALUES I X QERVHIE FOR 511$ O u.»- ullrlv 1i.‘- o4

il 1| l» I‘ M». on s...‘ 4|

Q9§' <F.l't\'ll.‘;§5-§9<‘5

sElHllF. Fllll Flﬁll’!

.%&§

'30 Pl. O Ilrgululv ESQ 25

(|'u|'~ h; Flora-I h."- nil ‘Ill: m

1.2 m. I in-nnwi. us o0 (in... t» Plwr) b» 0B §l|¢ 1|

¢__.— —_-.~.- --~»~ ..__- IAZBL GROVE SCHOOL ! G 8811311- Lirlnic I lSr) Erroll Bagnall.

Grade I <Ji o Exams.

Honor Rollﬁodfifvythe month of

lugnst: l K h ‘ time x_ ' M m“ ' . WARRING'I‘ON T0 FIGHT Grade 13-4. Georgie Buchanan. MCCOY Grade VII-l, Annlc Pound: 2. ‘ j-f, _ Y‘ i Fhelnm Nicholson. a. Lloyd Pound. 1cm. By Guardians special 111,59 Grade VI-—l_ Helen Pound; 2. i ‘MONTREAL.’ S1111.“ 11 ~v1-§1 Mildni; Ilvrtram: ll. .l1‘»h1l1'1f‘t‘lf‘lil‘fi. i Warrmi-lim‘. m L'.\,(;l1°?1» 1!- ~- Gmdp VD}, Mnyjﬂrig Riyfvﬂyiﬂnj l Citnadiaii 1llI1l1-1lCli\_\\\l’iié1t.' (‘lilétllllé- i Vivian Craswtii and Ora Pound , 111011. W111 m?“ A1 M‘ 03' '

l\i‘;\\'j."'t\'t‘.[.Eill. king oi ."§t‘\\' VEHS-Ilnd in the main bout of a DOXIHE C1110 tier-p Sept. 20. Promoxcr Jules Ra- cicot. announcvd totiay.

iequai),

Grade IV—-l. Hazel Crasuell. Grade IIl-l_ Mﬁliflll Nicholson. Grade ll; ISr.) —i. Reagh Pound.

Teacher, Barbara Pound. 5

This column l: reserved for new: ul local interest but. ndvertlllng n newsy nature may be inserted at. 4 cents a word strictly ply- able in advance.

CRASWELL for Phowgraphl.

CONFEDERXIION LIFE INSUR- ANCE. L-87B-7-2l-3l2.

MUSIC CLASSES RESUMED. — Classes in Piano. Vocal Theory. vim. rc-opcn Friday. September 9th. Charlottetown School 0f Muse-A.

i l . .A..\i., -tc. Roy Kendal , LR Lcnﬁo-g-Qdiv

RBETTER PEI/Es result from feeding foxes lloss-‘Rllllcr Slaindzird Felting Cubes, specially prcpurcd tn conserve Vllaimins A, B, l). l. 111111 (i, from propt-rlv ,pl'0('|3§54‘(l P1111107‘ tinned and blcndcd cercals.

1mm) ox THE 5011-11113 -'I'1"_‘ . O. A. Pipe Band gave thell third concert in the $011111‘? “n Thursday evening bi>°1150T°d by Messrs. Moore 6a MclﬂfXl L14- Thcrc was a lzlrcc attendance _ of listeticrs notwithstanding the chilli- ness of the weathcr.

I

SAPPl-llRl-ZS FOR SEPTEMBER

The colors of the hﬂllllhife 51111- weii a pcrfc-ct tiny in September, ‘the month tui‘ which it is the ibirihstone. Tins gem. which most

of us think of in the varying hucs. rt tiiuo. may almost run the ﬂillis of ihc spéctffl. All of the nun.‘ n. Point's constituting the gem \'i\l‘lI‘llt'\ of the lllllltflﬁl coruntluin 111'!‘ known ns Sﬂplltllft! with the cxrcpiion of red. The red vnricty is ruby. Snpphires other than blue are all known as fancy sapphires.

Bcc. .0 thc source of all fancy rarictics was formerly the Orient. namt-s stirh as “Oricntnl 'I‘opazt" "Oriental Amcthyst." “Oriental Chrrsoiitc," and "Oriental Em- erald.” have been used by jewel-

crs for them. Scientists consider these terms deceptive and mis- riding.

This practice has tinqucstloniibly robbed the sapphire of much of its glory and intt-rcst and docs not add to the ticsirabiiity of the other stones. ‘That varit-ty known as the “corriflowci” blue is the most highly prized. “Cashmcrs Sap- phire" is the term given to the vclvcty cornflauci‘ bluc color. de- scribed ns having a "softened" ap- pearance. The finer specimens of this color are scarce. The "Burma" sapphire hns a fine “rich" blue, darker in artificial light. The l "Ceylon" sapphires are usually liight blue to nurpli-h blue gen- erally clear and brilliant. "Mon- Liana" saipphircs are electric blue.

“Austraiiiltf sapphires are usually clensc. inky blue. often almost. black tinder artificial light, and have a grcvnish cast. when held [to the light. Thcsc terms are used in thc gem trade and refer to ‘grades and not necessarily to the ilociliity in which they are found. | The sapphire is said to be the ‘srmbol oi truth and constancy. fTraditinn tcils us that. it was upon ‘a sayiphirc that the icn command- mcnts were engrnvcd. The Per- sians bclicvctl that the earth rested on a great sapphire of which the rcficction gave color to the sky. It is known ilS the cclcstial stone.

Star sapphires. together with the

star rubics. arc known as astcrins. and hnvc Sll]ll‘l‘:~liflOllS of their own. iAs the stonc is niovcrl n living star nmienrs Tlic ihrcc cross: bars.

which form this star of six rays,

_rcprc.~cnt faith. hopc and charity. i

Oricntnl tradition revcnls it as a guiding 14cm. lVfllYllllﬂ nif ill omen and bringing grind fortune to its owner oven ziftci‘ the gem has pnsscd from his posscssion.

Sir Richard Burton, famous cxplorct‘ of tho last century’. and translator of the Arbian Nights owned a largo star sapphire which he (rotisiclcrcri his talisman hccausc it brought good horses and prompt- atlcntion wherever he went. The reward for such attention was a vicw of the stone. The Orientals

IHEQENTEAL

~~..... . .. ..

o FOR. A REAL BREAKFAST iwiii. ‘gobin Hood Porridae 011-!- chlm, silverware or P111111-

nn. F. n. SMALLWOOWS

0F- II wil be closed until October l L-1210-9-10-2i. APPROACHING MARRIAGE — The marriage of Kathleen Sarah simons, daughter of the late David Simon; and of Mrs. Stmons, of Thetford Mines, Que, . J. Harold Show. son of Mr, and Mrs. D. R. H. Shaw of Charlottetown, p, E, 1,, will take place quietly on Tuesday tlILCHlOOH, Srpteznber 20, at two dciock in the Church of St. John the Divine in Thebford Mines. ~tMontrenl Star.)

_;E‘RSONALS

Miss Mabel Parkman, Charlotte- l/otvn Royalty. spent Labor Day at Montague tin- guest of Mr. and Mrs McKiiuion.

llrs. David Harding, Mr. Geo. Harding and Mr. and Mrs. Zipazvlo of Somerville. Mass. have been guests of Mrs. Janet Pickering for a short: time.

Mrs. E. J. Jenkins has returned home to Arlington. Mass. after a pleasant Visit. to hcr sister, Mrs. Janet Pickering Clinton.

Dr and Mrs. P, A. Jackson have returned to their home in Winni- peg after spending a holiday in Clinton. gticsls of Mrs. Jackson's mother. Mrs. Janet Pickering.

Mrs. Lavinia Rankin. Mrs. 1k- tclle Christophci- and Mrs. Fred Botichnril hiivc returned to Perth _ Amboy, New Jcrscy, having spent a short time on the Island. guests of Mrs. Janet Pickering of Clinton.

L

Eastern Guardian

.*'l‘hls column is reserved for news of local inlcrcst but. advertising of a nc y imturv may be inserted at 4 ccnts a word strictly psy- able in advance.

Mr. and Mrs. l-lnrry Harrington and children of Ncw Jcrscy have been gtirsis of Mrs Sterling Mac- Kay. New London during the past week.

Among those attending the Young Peoples Rally held in Zion Church over the weekend are Nfessrs. Andrew Jardine, Robert Jar-dine. Frcctnwn. Albert Walker. lKcnsington and Misses Georgie Jardine. Ruby Jardine and Doris and Ethel Campbell. Freetown.

‘iisbirscnicrioivs . to m‘. Charlottetown Guardian may be

lnmdcd to their Rcpt. Archie Hume.

HWIOBIN IIOOI) FLOUR is ec- onomical. More loaves 0f better broad from ﬁnch bag.

. " ..'.\ir. and Mrs. Walter L. Beer. ....‘;"...I€-‘.‘f.i§2 S.“‘;S.°.E...J°l§.. shill; i1*"S-RV°'S-,M"L“;v,; “W, _ . ‘c _ .' _ v ‘ ‘ Stcpivsn law o oscnea an more w having spent. two weeks with his a ‘may jmrents, Mr. and Mrs. J, B. Gaudct ﬁring: Sbtrccrkl. He Iwas accompanigd ‘ , ' _ l y s rot or A of the Carin i1 § Packers‘ Staff who will spend his Kenslngton E holidays in Quebec andMozitrcal. i --i—-~——— ————— Miss Jean Cousins and Miss, Geraldine i\fcl_..~an were visitors

to Sunimcrside on Saturday after- noon. whcre they attended’ tnc motion picture, "Snow White". at the Capitol ‘theatre.

Miss Aibcrta Kelly arrivcci home for a short holiday on Saturday from Montreal, Que.

Mr. Albert Walker accompanied by Mr. Eric Jzirdinc, Miss‘ Doris Kennedy and Miss Annie Delaney inoi..nrctl to Charlottetown on Sai- tirdtrv.

l

i Miss Aiicc Wuodington and Mr. t Elvin Bryanion of Burlington were i visitors to Stimmersitic on 'l'illli‘.\- l day- cvciiinc where they nticndctl and cnjoyrtl inc motion picture, "Snow ivhitc."

Miss Eva Coffin of Ncw Jersey, who enjcyzs our lair province so much that shc Ls a ' ziriy visitor ailiOilg hcr inany nds in Bur- lington and this VlClllltY is once again spending a iolcasant holiday in Burlington, the guest of Mr. James Dunphy.

MAA (ilNG EDITOR

Clifford Wallace, assistant to the mantiging dircclnr of the Ed- monton Journal, will b0 tlic new managing ctlilur of the Globe and Mall. llc was fornicrly . . city editor of Tlic Toronto ‘tar.

PLUM CONSERVE Four pounds jilums. 2 oranges, 1 lemon, 1 pound seeded raisins, 1

:4 Jl l» w ‘J a

Mr. Charles Howatt was a visi- tor to the capital on Friday.

Jean Gallagher of Ncw Jcr-

bc-iicvctl that good luck was sure

to mum“ ‘lcup broken nut meats. 1-2 cup hot

water. 3 pounds granulated stigar. Wash plums. cut in halves and remove stones. Squeeze juice from orange?‘ andd lcrnon and ptut lrincl __ _ _, throng oo Cl0l1l)(.‘l'_ Pu p ums knoxggtﬂi_eg:grkfgf‘ ‘Pf 13%?- ‘It ' and hot water in preserving kettle, ' ‘ 9 0" ° 5Z9 I cover and bring to the boiling

ggqﬂcgiglvgicuo“ of 51M" It weigh“ point. Add sugar, rind and Juice.

J. Pierpont Morgan purchased and presented to the American Museum of Natural History in New York. the sapphire asteria

sey is enjoying a pleasant holiday with her brother Mr. James Dun- phy, Burlington.

‘ _Aniaug the many out. of town visitors who att-t-ndecl the fimcral of the late Mrs. Alberta. Ponder- gust. on Saturday wcre Mrs. J.

Austin Trainor. Mr. William Ready I

bfgeasp p/easanf way f0 1‘ ,;z{)ggggflkuaﬁ6lnmuﬂhﬁuuzﬂb6'-

' V/R/GZEX? Gl/M

ch" Wrlgloyh Gum alumna naval. Dontlntn recommend lt as n daily chewing exerclse—helpa keep tooth strong, white, healthy by remoﬂnQ particles of food that remain between the tooth.

The deilcioua, rafmhiug ﬂavors o! Wrllvr’: nunn um: with, improve your personality. Aida digestion and nllevu that stuffy feeling after mull. Help: keep you healthy!

Every day millions enjoy this invigorating chewing emote. Fourﬂavonr long-Inning Spearmint, refreshing Double Mint, luscious Juicy Fruit and delicious El. Got nvornl 90$“; today from your grocer, tobneconlat, drug store, or confection“.

' MAKES NOVEL CLAIM

Mrs. Mae Mills of Si. Eleonora enjoyed the week end in Kensing- ton the guest of Mr. and Mrs. Preston Chappell.—l-l.

FLOOR OF THE OCEAN

It. is believed that to a. great ,extent the bed of the ocean ls wavered with’ lava and pumice gstcne. Still more remarkable is it 110 find the floor of the ocean cov- icrcd in many parts with the dust: lof meteorites. These bodies whirl iabont in the hcavens like minia- iturc comets, and are for the most , part broken into innumerable frag-

PLYMOUTH, England -- A ship's sinker here claims to be the only man who can drink his beer while standing on his hen-d.

IONDON -— The British POBI: Oi’- flce s t the recorc 000.00 ($95,000,000) curing the last financial year on tcephone devel-

opment. Many exchang were con-

jments. | We are all familiar with these ;1l(?2\\’t‘tll_\’ visitants ns shooting

sun's; but it has been only lately ldiscovcrcd that. the cosmic dust Iforms layers at the bottom of the deepest. seas. Btweeti Honolulu and Tahiti, at a depth of two ihotisnnd three hundred and fifty fnthoms-mver two miles and a. half —a vast. layer of the mater- ial exists.

‘Falling upon land. this impal- palalc dust is indistinguishable; but nccumulatingfoi‘ centuries in the sca depths. it forms n wondrous story of the continuous bombard- ment. of this planet by cometary bodies.

‘i

Canadzfs chartered banks. charge interest on loans.

these reasons:

PARTS“ A-BOUT NEW STYLES

Afternoon hats for the Paris autumn fashions- feature cone-

shupcci crowns trimmed in bright. ccrisc or fuchsia ribbon, bayndcrc-

stripcd velvet or ostrich. One Paris bank"

5 i <5 .== L’ :> c» i‘: c: n 77 < m >- I

cap trimmed with color- h tufts on the left side. Persian chcchias. pointed caps, are ‘rlcsigncd for wear ut cocktail parties. _A new hfariinique band- nnnu cfiect is obtained by tying a wirlc fuchsia ribbon around the licati and knottitig it over a, mulching crushed pillbox.

Dominion.

In the iaame ten years banks aid in taxes to municipalities 40,831,930; to proviucea $14,-

429,320, and to the Dominion, $24,027,324, a total of $79,-

HAnothcr fashion is a modcrnisa- 288,574.

on of n v1.1 i. P k.- , iriintzicd wcith ‘vgllvclt l‘lObl§0l“1.on.§l11e1:: Banks have 9th“ mo‘ or flout-rs, with a fluted frill cov- R6111 °11 IBIIIIRB; 81811011817

cring thc "We of the neck. and rinun ; 1i bt, water and P E 8

PLEATED SKIRTS fuel; contributions to nsiona

, _ and grou insurance or em-

The‘ Admirals cocked hat which ployees. cpreciation on build- 111!‘ K111i! Worc on several occasions

ings takes a large amount each year. Any money a bank paya-

has takcn the French fancy, and 1i; is now ticing reproduced in the form of a felt purse. n poyvdcr-puff

frhc principal source of star sap- phires is Ceylon. ‘They tire found in colors Vill'_\'ll'|§'_ from n pro- nounced bluc to pale grey. Pro- bnblv because the star was a result of the inclusions which they contain. ustcrins arc never pwtcctly trunspnrciit. Th0 more rlistince the stnr appnnrs tinder a (1ll'l"i'| light. the morc valuable the

I l i i

(‘lord hlutwrlrnl nnvi-ls 1)‘.\§f!(1 on solid (locumcntary history should hi" |l-l‘(1 to fair grczitcr i-\t|'nl. |Il tho schools of tlu: Dominion than till-y nrl- mm in tlic opinion of Mrs. Ncllio .\lc(‘lur.g, the wcll- known fluialliuti i-uihur. who sziill-(l from Quebec on Saturdly Iftcrnolm on the Czinzuliuii Pacific llncr Etnprcus of Britain.

In an ln!|:rvlew' |l(‘1l||'l-' she saillPtL. Mrs. Mcflung, who ls going to Switn-rlanrl as om- of (‘aim i‘s rcprcscntntlvest in the met-tings nf the League of Nations (‘nuncil at (lcticva, discussed the subject of historical novels at some length.

"(lcnc With the Wind" she onjoycd vcry much and found "an nbsolutcly documented hook.“ lint. among the hooks shc would rc- commt-nd for Canadian schools wort: “With thc Wrst in ller Eyes," by Mrs. Kathleen Strange. "The Viking Heart.“ by Laura Goodman

Sulvr-rson, "With Flame of Freedom." by Iithcl (Jhapman, and

stunt‘. Ceylon is also the principal colon-cl sapphires.

source nf fn: v although many intro bot-n found in

Nlontnnn. Qtiniitiiir‘: arc also found l

in Ccyinn. Australia, Burma, and Montana. The supply from Cash- mere ill Upper lntlia is almost ex- hnustcd.

Sapphircs arc most hcnuliful and durnblc slnncs, hccruisc thev are exceptionally brilliant vcry 'hard, mid clc not fracture easily.

We are indebted to Milton F, Gravcnder of the Gcmologicnl institute of Amcricn for the infor- mation about tin: Sapphire. --Exc.

int. nEFoTtmi-"mmm ENIFIFILD. Eng.—Clmrkcd with slﬂlllllll and receiving 11 cheques. tiroperiy of his employer, John Allen was said to have had 3.000

printed fnLse references in his lodgings.

nooiiisnnrsn mics New bags range in shape from

“Gentleman Advcnture-rs," by Illiirlan Keith. 1 ' ' » "*

BRINGING UP FATHER

gilt-edged books to copies of - grandma's knitting bag.

of Charlottetown, Mr. Heath Strong. K. 0., Mr. H, Morrison of Summcrsldc uucl Dr. and Mrs. J. E. Fleming of Stanley.

Mr. Hull Wiidman one of our outstanding citizens has cpcncd up an up-to-date meat market in the business stand formerly occupied by Mr. and Mrs. Hope.

Mr. Wm. Delaney our popular town cicrk was a recent. visitor to St. John. N. B, attending the ex- hibition and had such a. swell time, he hopes to repeat the trip next year.

Mr. I. E. Jay of Charlottetown enjoyed the week end at his homc

in Kensington.

Mrs‘ Hattie Wickctt has return- ed to her home in Kensitigton after an enjoyable holiday with relatives and friends in Victoria.

1 EYESIGHT EXAMINATION

E Fitting and sunpiying Ginsu EM.

,n.t MABON

l ! OPTOMETBIST i i i

Miss Pauline McKinnon has re- turned to her home in Charlotte- town after a pleasant holiday in . Kensington.

Mrs. Elizabeth Compton of Si. Eleanors is enjoying a pleasant holiday in Kensinglon. with her daughter. Mrs. Preston Chnppeii. MONTAGUE. P l. l. Office Connected With

B.

Mr. Preston Chappell and Mr. Leigh Compton rctttrned homo

ton

from ShJohn, N. 13.. on Sunday._ V,

case, cluly icl-b 1d _ 1 fastener al/gibg i113 tsoittiiiinthrzdilgezlp ‘nut wagumodler “femfcan The inﬂuence o; t ‘. come onl from the bank a ro- . _ he Queens Y _ _ It‘); fashion has been sources-and must be aid in 1 . an - ~ max. .322? “P” “'1 ' "i?" lions. but. in the streets of Paris a n5 15 not a “m9 m5 tircsscd all in white. ' It has its cloudy agpecta too,

Union Jack colors will (laminate the autumn anti winter fashions- a direct c n. , vijttto Pgﬂsscqucncc of the Royal

_ u unm frocks are rather short, with straight skirts that: are given

Banks must stand ready to pay their cretlitors-ﬂbo depositors and notc-holdcrsr- a hundred cents on the dollar; but banks unfortunately cannot alwa a

a certain amount of utldii b

vii-Sta. Matt-ﬁlms are vim-X collect a hundred cents on t e ' *° “'°° 9"‘- CPBDBS dollar! The have losses in-

lzimcs d 1 ‘ _ t , an now mam ierseys‘ cvitably, an; must set aside

substantial sums to meet them. A bank must keep itself in such a cash position as to be able to pay you your deposit whenever you sec ﬁt to with- draw it. .1 Chartered banks are l? law to lodge" Wiﬂflh ank o Canada, or hold in Bank of Canada notes, ﬁve poi‘ cent. of their depositors’ funds; but, in practice, they always carry about twicn that percents e. Deposits with and notes of e Bank of Canada earn no intu- eet for the chartered banks. It is necessary also to keep a further amount in short term investments readily convertible into cash. The yield on such investments is low, firstly, be- cause Treasury Bills and other abort term securities mature at short dam; secondly, because- bnnks hnvin no nopoly of money or 't - cub teacrvon of many industrial concerns compow for this type of in-

——-—-_____ Use Mlnards for colds.

A Thorough Examination

with lnfcst scientific Instru- ments will give the prescrip- llnn which allows you to use your cycs without strain.

Avoid the headaches and irritations of even slight cyc- strain.

Know your eyes, consult

ll. F. llutcheson

HEQEB AHOTHEQ Ls-rreiz . FQOM MY BQOTHEQ-HELL. l AQQIVE TooAv IN5TEAD or: i TOMOQQOW -- BLESS Hi5 i-lEAQT-.HE'$ cusr A DEAQ-

VLL 5AY HE l5‘. HE COST ME PLENTY-

l MUST QUSH OVEQ Alsl’ SEE ll: JEQRY FIXED MY OFFICE U17 AS I TOLD HIM-HE KNOWS MAGGIEE» BQOTHEQ‘

OH- lT'S ALL DONE-

-NQw . veg-pant. IFIXED EVERY- LET mutiny depend THING- AN’ WHEN THANKS’ MAGGIES largely upon loam, but a m I SAV FIXED-THAT BPOTHEI? can lend only when the automa- |= l5 JUST WHAT l CALL” wgyugupbon-gw, a EA m, 0.4mm mi. i“... in 1929 i". ~<zﬁ°°° "mm ;1,a42,ooo,ooo; in

1937 only $731,000,000.

with ou. He will be glad lld

lllitlb

“Timid m... mnuitrvaﬁiwnmi.

working,

ANOTHER DOST WORLD CARACAB. Venezuela. — Gold and scentific knowledge are object,- ives of an expedition exploring | 300 square mile plateau in souther Venezuela. The region la about lg mile; from Mount Roi-alum. site Lll‘ Conan Doyle: ‘loci World."

A FEW CANDID WORDS. ABOUT BANK EARNINGS

"k

1 Half of one per cent. a year on total assets in not much of a proﬁt margin for any business, corporate or individual. Yet that is all the "velvet" there is in the business ol

Banks pay interest on personal savings deposits. Tboy The diﬂerenee is not all "velvet? by any means-h

(a) It coeu money to operate a bank. K (b) The cash reserves held by the bank earn A bank must provide for looses. . Earnings on a great deal of a bank's assets are vary 10v

M the 25000 toyed In &nado'| m I: m’. bffﬁiﬁlﬂ" aim-aw- chan- ered banks have paid in wage: and $376,000,000 — purchasing power distrlbuwd ovlr the

nothing.

I003

When business hill oﬂ or prices slump, businessmen bor- row leaa money. A given vol- ume of business is bandied on less money, too. It would uke $150,000 to handle 100,000 bushels when wheat is It $1.50 per bushel, but only $100,000 to handle the same volume vvhm the price is $1.00 a bushel.

When ordinary loans are not in demand, money, instead o! lying idle in the banks, ﬁnds in- vestment in Government bonds. These earn substantially less than ordinary loans.

Very obviously bankers would prefer commercial loans.

Money invested in Govern- ment bonds is, however, just M much a loan for the Govern- menfs urposes as a loan to a farmer is a credit for his pur-

ses. In 1937 the average of

ank loans and investment: combined was $2,158,000,000; in 1929, $341,000,000.

Thus bank credit in Cangdl was actually greater in 1937 by $317,000,000 than in the sumo period of 1929, the boom year.

As with credit, so with cash. As of October, 1937, over $17, ,000 more in bank notes were in the hands of the

blio than-sin. --Ootobor-- of-tbe- -

year 1929.

A word with you about divi- dends.

The Bank Act ﬁxes the par value of bank share: at $100. The average price paid to banks by the shareholders when shares were issued was 8165 per sham. Of this, $100 has gone to Capital Account, and $65 has been placed in Reserve.

Over many years undivided proﬁts, now amounting to $34 Ear share, have been left in the

usineu by shareholders and I16! DOM-

added to reserve, for the security of depositors holders.

The aver shareholder’: in- vestment in nndl’: charmed bank: now, thcnfore, amounts to $199 per elm-o. A dividend ofuy 8 per cent. on the $100 par value is, in fact, only slightly over {our per cent. on the money actually invested, or lhefhzitb the bank by the llam-

O v

THE CHARTERED BANKS . 0r CANADA

Y...» local brunch bank manager ‘an t» a... w ulk ma»; n! mm c:

of m. m nrleo will appear in tluh nnupupc. Watch [or It.

gauﬂomlmm tho ho no: article In 0M0