.1’

t

t.

\

1T?

, . and Mr. Hobbs

AGINTI: Mn. John Pond, ll Ohurob Street-Phone ll! SUMMERS)!!! and PEI-NO! COUNT!

News. Subscription: Advertising should bo left with Mn. Pond.

n. Guardian ma: in opuhtgnll:

nun of the following eooreeln o:

_ more, W Gourilu Drugstore. Water Street, Toronto n“ awaken. W-etee Street. Mark Gemini». 67 Granville Stront-

The Guardian will be delivered

loony home in ilnrnmerside by

curm- duy at 2o per on o- 1w per week. Phone 289 for this eervioe or live your order to the My responsible for deliveries on your ronle.

o r r .13’; 0.12522..." .'..'."'Zi....‘lZ..1".§. '. pnwey nature may be Inserted at I uni! o word. llriotll heroine In pdvuncl- \ RN SOLVENT relieves coma. T51‘? Drug 00.. Kensingtou. L-002.

DRETURNING FROM MON- TREAL-Dr- J. C. Simpson who has been in Montreal for he bust few days is expected home this eve- nil1g.-—S-

_Cll0COLATES and Easter novelties. Be sure and call so as 1,», procure a nice box of Easter guild)’. You can choose from Page and Shaw, Mglrs and Ganongs. "ole ‘s Drui; 1°"-

r y L-l346-3-30-2i.

..0U'l' 0F HOSPITAL — The many friends of Miss Brehaut will be pleased tolearn ihatshe has sili- ficisntly recovered from her recent accident to be able to leave We hospital, and ls the guest of Mrs. J_ s, Hinton. Miss Brehaut was ‘truck by o horse at the crossing by the Town Hall several weeks ago and badly fractured her aim at the shoulder-S. ,

-BAPTIST SOCIAL — A most enjoyable time was held in the Bap- ti=t Hall on Friday evening under th? auspices oi’ the Promotion and Goodwill Committee of which Mrs. (win stewart is the convener. Mrs. icrt Palmer had chnr"e of the mm which opened with "O Ca- " by lite audience led by Mr-

crrgc Bcwness. A humorous pow: hv Mrs. Currie and Mr. Ed- gnr Clark followed. Corp. Stone of the R.C.A.'F'. put on a delightfully funny sketch which brought much applause. Mrs Ernest Morri=on and Mrs. Chester Palmer gave readinus. Vocal solos were rendered by Mrs. Jack Mac- L-ccd and Mrs. John Hose which were, much appreciated. After re- freshments the evening closed with The Killer-S.

110

Personals

—Miss Norma Callback left by plane on Friday for Halifax. where the will visit relatives-S.

-Mr. James MacDonald has re- iuined from a short visit with friends in Montreal-S.

-Mrs. McGuigan of Charlotte- town u-as a, recent visitor to Grand River the guest of her sister, Mrs. Lconnrd at the Parochial i-louse.— S.

-Dr. W. B. Howatt of S’Side left on Saturday for New York to con- tinue his research in X Ray. He expects to be away about four weeks-S.

—Mr, Linus MacDonald of Bos- ton, Mas" is visiting her parents, Mr. and Mrs. Augustine MacInt-yre rt Grand River. The many friends or Mr. McIntyre will regret to learn that he is quite ill at his home.- S.

-MIXED car of feed on order. Cu full of wheat coming later. Book order now. Ralph Mnwaull, North Bedeque. L-1B45-8-30-2L

-EN'TE.RTAINED SOCIAL CLUB —Mrs. A. Sterling MacKay was hostess on Friday evening at her churning home on Central Street to the members of the Ladies So- cial Club of 'I‘rinity United Church. After a short business meeting pre- sided over by Mrs. Nicholson. the gesident. a most enjoyable musi- cal evening was spent. Mrs. Mac- Kay favoured her guests with e pleasing solo. Vocal and instru- mental music helped Io pass away the time until the luncheon hour. Mrs. MacKay was assisted in serv- ing refreshments by members of the club. At the close of the meet- ino Mrs. Nicholson moved a vote Oi’ think! t0 the hostess for her kind hospitality-S. ,

—Y'S MEN'S MEETING —'I'here was a very good attendance at the rigular weekly supper meeting of the Ys Men's Club which was held in Epworth Hall. Supper was pro- vided by the Ladies Social Club. MT- (390189 Clark presided. Mr. An- gus Maclellan was the guest speak- er. Considerable business was trans. acted- REDOIIS from the Radio Auc- tion were received. 'Il‘e total for expenditures has not yet been re- ceived but it was considered that the net profit would be approxi- mfltell‘ between 700 and 000 dol- lars. A letter was read from the Klnsmens Club in Charlottetown. asking that the S'Side Y's men sponsor an appeal for assistance with the milk fund for British Bu- bies. It was 5113895141111 that Prince County could do their part in this worthy object. A committee was appointed to look into the question and report back at the next meet- ing. It was suggested that a con. cert be arranged through R. C. A. F. talent the proceeds to be don- ated to the milk fund. There was considerable discussion regarding the financing of the Red Triangle, which the Y's men have under- taken for some months. It W53 fol‘. that unless the Y. M. C. A. could sive some support the Y's men would find it impossible to carry on and it was felt the club would have to close down until the new set up from the War Services Fund W111i! be Orilanized. ‘Ilre meeting adjourned-S.

Many shocked as Well known S’sidc. Citizen passes

Citizens were shocked to learn on Saturday evening of the sud- den death of Mr. Alexander P. Jamil-Wm who Div-ed away about 7.30 pm, while on .11: way to his home. Mr. Jamieson had been in poor health for the past three

1

Your Cliiiillili cs"

Must

warsusr,

iiliY BLEAIIERS All GtOTIIIEIIS

Lasf

colvsltnvu BY BUYING Tim BEST gt to We have on display a line of isulto and top coats tat will stand when th going is tough.

tock

T Horcd

to ii asurc

The! e fine English Fabrics smartly styled.

boukio-ic-iisv- enema o-uni Qirocted by IRVING IIPIII

Also short subjects Shows at 7.15-9.15 Matinee, Tuesday at. 3.30

SUMMERSHJE

years and suffered from hear! trouble. He was returning about 7.15 from the marine wharf and had called in at the railway station as was his custom to rest a. bit and remarked that he had never felt better. A friend offered to drive. him home but he said it vras o. flue evening and lie would .0151. as soon \valk_ When about a: tne intersection of Fitzroy and Glflnville Streets he collapsed. Dr MacPhc-c was called and went im- medutcly to the sick man but, no uad passed away.

The late lVfr. Jumieson “"215 born at New 1111mm on February 23. 1379 _and was the youngest son of Robert Jamieson and susan Thom- as Jamieson. He was christened Alexander Pope. When three years of age he moved with his parents to Summerside and spent his child- hood there receiving his education at the Summersdc school As a young man he went to the Un- ited states and carried on s. blacksmith business there for 1,7

years. While ln the States he vmarrled Fanny Campbell formerly of

Campbell's Cove near East Point. P. E. I, Their two children Keith and Ronald were born in the States. Mr. and Mrs. Jamieson and their children returned to Sum- merside to live during the last war, Mr. and Mrs. Jamieson mak- ing their home in Summerslde ever since. Mr, Jamieson was one of Summersides best citizens. A man of sterling characteristics and pleasing personality, he car- ried on a blackslniths business in Summerside since his return from the U. S. A. and was well known to the travelling public.

He was a Past Grand Master of at

tne Masonic Lodge of Summer- slde and at the time of his death was Worthy Patron of the Order

of the Eastern Star. He was a member of the Presbyterian Church but joined the United

Church at the time of the union.

He had a wide circle of friends who will sympathize with Mrs. Jumieson and the family in their sudden bereavement.

Besides his widow and two sons Keith and Ronald there are left to cherish his memory two bro- thers, Dr. Bruce Jamieson and Mr. flank Jamieson both residing m Boston also three grandchildren Ronald and Keith are at resent 1n ‘Hereford. Conn. Ronad and hi; wife and two children are ex- pected to arrive home on Tues- day, Funeral arrangements have not yet been completed-S,

BUDGET SPEECH

(Continued from page t)

cheese board. This year it will eon- tinue policies of assistance and en- couragement. especially ln connec- tion with production associated with the national war economy. ‘Iherc is also the Dominion arrangement. an- nounced recently. with regard to fertilizer and the encouragement which is to be given to sheep breed- crs.

Farmers. it was pointed out. have received greatly improved Price-i 1°!‘ the past year's products and they r-oe the coming season with re- newed confidence in respect to markets.

The principal difficulty‘ facing the farmers at present is t e shortafle of help available. ‘This, he lnted out. was due principally "'19 great number of voluntary "1118" ments in the armed services by P. E. Islanders. and to the 11911590119 rcmuneratlons available in indus- trial employment. It is hoped this situation will be remedied b! the Dominion Governments new war labor P011111’-

Fishlng Industry

The fishing industry had also en- ‘qygd g greatly improved scale of remuneration for the catch. Mark- ct conditions appear likely to con- gmue stable for some time.

The Province had eIIIOWd l N6‘ ord year in the tourist industry and this in spite o! swim w!‘- tailment durimz the latter months of the your. 93.534 passengers came to the Province in 1941 as compar- ed with 04.056 in mo. 101564 spig- mpbilog came to he Prov llvG m; yggf g3 against 12.603 liibgfiflfi blles in the previous year. Of out 13,357 passengers and 4.057 lung; mobiles were transport"! 0" Wood Islands Ferry-

Glancino at the pro-amt! for ti" 1942 tourfst season. he saw a de- crease in automobile traffic due to uuniino and in restrictions. But

T0-DA Y

shining

\ it'll-arr

2 el Remedies

by the ol Moon Ointment H Pile Remedy N l ie I Protrudinl 31'“. Pllnnndilloldlnfugqwlthpifio. for internal p-lieeflou. Prion 15o. Mpooo lo Ramedy No. [or B-rtarnoi Itching Prim. Sold lnhrnndilloroxternoiuneonly. collie. Order-by number from your Druuilk

increased travel by railroad uid by air was in prospect, he believed.

‘Iho Public Accounts for lest V981‘. he said, showed n. surplus on ordinary account of $9,348.25 after including sinking funds-the first surplus since 1928.

Hon. Dr. MlttMillh-Ilt "The Fed- aaltlfilovernment didn't believe i .

Premier Campbell: " e didn't try to impress it on them."

The total estimated expenditures for 1941. exclusive of sinking fund DPOVBIOHS, he continued, were $1.-

40734. 'I'.he total actual expen- ditures were $1.991.990.30 or a dif- ference of $14,583.04, and o1 mls excess $13,007.44 was for interest largely Owing to the withholding of a part of the Dominion susbidy and certain revenues pending comple- tion of the Dominion Provincial a- greement. By the end of the year. in anticipation of the agreement, the Dominion owed the Province substantially half a million dollars on which we were paying interest at the bank.

Interest Accounts

_"0ff the record." said the Pre- mier, "we mightbe inclined to say that the Dcmmion Government should reimburse us for the sub- stantial interest amounts which we were obliged to pay for that reason

But it will be seen on the other hand that by the delay we ob- tamed a. substantial benefit. be-

cause the Dominion Government (although there W115 considerable delay in CRITYllIZ thc agreement in- to effect) made ie fiscal need grant retroactive to the beginning of 1941

Ellmiliutlng interest account and calculating the difference between the cunent administrative and de- partmental expenditures and the estimates provided for those ex- penditures, there would be found a difference of only $1,575.60, rep- resenting the amount by which the Government had exceeded its esti- mat/es. On over-all account, adding slnkinfl lurid provision “for poses of rccclicilia .1" i0 the to- tol revenues, the figure would be 12,535,000 a; against gross expendi- WPQS 0f $2.565,000—a deficit on ov- er-all account for an increase in outstanding liabilities) of $30,170.67.

“Three unavoidable projects." the Premier said, were responsible for ‘he failure to balance the total bud- get last year. The first might be called the "protective continuation of partly completed highways." It was found in the previous year that certain highways had bcen started and it was not possible to complete them. In order to prevent serious loss of materials and work which had been done, it was necessary to do a certain amount of protective continuation.

vlncial funding operations on cerned. but we considered that It had e. great deal of merit and 1-bit it was en experiment well Worth

in: I think it will have three

.1nth0flfltpll00 l? tot-he

province a ro-

urn on our sinking fund; equal tn

the interest rate of the outstand- e

l!!! d be l; "The bOIIG-l I70

n urea. Mr. McPhee: call?" Oompbelli: "Subject to call to this amount." Mr. McPhee: "At n. certain def- inite time?" Premier Campbell: "In Septem- ber. I think, of each the Board h ‘

the conduct of a lottery and cer- tain shares are drawn and those shares which are drawn in the lot- tery are redeemed and cancelled.

Mr. McPhee: “It might be dif- ficult to trace the bonds, just where iPey are. Suppose the hold- er is not aware of the lottery?"

Premier Campbell: "That condi- tion is written right into the de- benture. Whiie I say it is n. new feature as regards our provincial debentures, it is not n. new feature In debenture issues.

Hon. Dr, MacMillan: "1 thought lotteries were illegal."

Premier Campbell: “They are il- legal if there is a ‘rake-off’ to the house."

Other Advantages

Continuing. the Premier said the second advantage was that by the time these bonds mature, almost one-"alf the original amount of the debenture issue will have been rc- decmed, and there will be a re- newed confidence on tile part of the investors for the Tillllitl of the remaining part of the bonds, if that

. lace. he added. it is stated by the bonding compan- ies that this periodical withdrawal of a percentage of outstanding ls- sues removes a considerable num- ber of provincial bonds from the mark-ct and thereby creates a gen- eral confidence in the ability of the province to redeem, and, incident- ally, puts a scarcity value on pro- vincial debentures which improves the market for other issues.

At the end of i941. the Premier said, the sinking fund was $56,209.72 in excess of the statutory require- ments. In this connection he re- ferred to the extra two cents gaso- line tax as having had ban. iciai results: fl» it secured an adequate sinking fund prpvlsion for paving debentures, and 121 during 1h? period of the Dominion-Provincial agreement, an annual revenue of $61,000 on the 1940 basis will be guaraniced by the Dominion Gov- crnment.

To it c government's sinking fund transactions the Premier credited the fact that the Province was able to invest in Victory Loan last year the amount of $190,000, and $100- 000 this year.

Coming to the estimates for l9- 42 of $2,294,790 current revenue and $2,285,973 current expenditure, leav- ing surplus of $8.817, the Pinmicr noted certain items in particular.

New Revenue Source:

The second item was seal coat“ i

ing. A certain amount was provid- ed for in the estimates last year, but it was found that the: mwterial could be obtained more clrcaply than was thought, and the work done gave even better results than had been anticipated. It was deem- "d desirable to increase the amount of seal coating to protect the road surfaces, illCllldlflg some portions of this Borden highway, from deterior- n

g. The third item on which capital expenditure was necessary was the reconstruction of certain highways leading to ilte air training school at Charlottetown and Beach Grove military training centre. There was also the construction of some sub- irraded gravel highways leading to other military training centres.

Apart from these expenditures, e policy oi’ curtailing capital expen- diture to a minimum was followed; and this year the some Piilicy would be carried still further. the aim be- ing to postpone for the duration of the war any capital expenditures which are not absolutely necessary.

Funding

In connection with the public debt the Government funded dur- ini; the year two and one-quarter mllion dollars of obligations, the Premier continued. "The last two years “hIt-itilllflfl)’ had been difficult times for provincial financing. The government last year secured the best obtainable advice. from rac- tically all the outstanding nd houses of Canada. Their advice in the main was to seize the most suitable o portunity of making o. substantia clean-up of our unfund- ed liabilities.

"Such an opportunity," he said. "did not readiy present itself. The matter was discussed at the time of ‘the Sirois conference, and tho outcome-wr ‘outgo’—of that Con- ference had the effect of dampen- ing the enthusiasm of the investing public 11s to investments in rovin- c101 securities of any kind. y the time this enthusiasm had begun t0 revive, the investment houses had got themselves involved in the Vic- tory boan which took the attention of practically all the bond dealers in Canada for several months. As soon as that was out of the way and duly absorbed, we again commenc- ed negotiations witnsome of these houses and called for tenders for an issue of two and one-quarter million dollars. We obtained bids from three large and competent syndicates representing, among ilrem, practically the whole of the bond dealers throughout Canadn The bids were so close that it was obvious that the prices obtained were the best prices obtainable. Af- ter reoetv the advice of these various syn icatcs and after open- ing their tenders. the contract for sellingvthese bonds was avrardcd to a syndicate consisting of the Bank of Montreal. Cockeran Murray and the Royal Securities. The loan woe a twelve and one-half year deben- ture. at four per cent interest.

"A new feature of this loan was that on the suggestion of the suc- cessful ayndicnte a new method of investing the sinking fund was ro- vidod. Instead of putting the nk- ing fund to collateral securities. it is appropriated each or to be held in cash until a ce ain date. and on that dale a lottery would be conducted whereby a certain per- centage of the oiltstanding deben- ture; should be redeemed. This 1e enewfeetureooferuoor pro-

He cited the Health Tax passed at the last session of the Legislat- ure. Last year only the liquor tax sec- tion was in force for a par: v.‘ the year, and produced $27,696. For the full current year the estimate of liquor tax is $40,000, and of the tobacco tax, for part of the year. $50,000. making a total estimated health tax this year of $90,000.

“Another thing calling for special comment/‘hesaid, “is the effect of the Dominion Provincial agree- ment. In 1941 the grant due from the Dominion was 8691.811. From ibis was deductabie the tax reserve of $209,572 which is retained by the Dominion d to the pro- vince in the year followin the termination of the agreemen. Un- der the general terms of the agree- ment there would therefore be ply- able by the Dominion to the Pro- vince for 1941, $482,236. Added to this is the amount due by the Dominion under the special section of the agreement relating to gasoline tax guar- antee, $25,264.19; makin n. total e- mount payable by minion to the Province of $507. 99.

"For the current ear the esti- mate of revenue un or the agree- ment is as follows: Starting with the some basic amount of 1691.011.- 40 (for the purpose of convenience we have eliminated the amount due to the municipality oi’ Charlotte- town) less the estimated amount of the suspended tax reserve which in 1942 will consist o! arrears only.

20.000, we have a not payment under the eneral provisions of 8671.011. A d to that an amount estimated under the special peo- line tax guarantee, $107,000. and we have e total payable to the province of 1779.713. The suspend- ed revenues of the province as e.-

gainst that payment are the sul- pended cuboid. 8775.000. and sue- nded taxes 241,000. or a total of

10.000. Bo that for the current year the estimated fiscal benefits of the agreement amount to $203,- 713. together with the ltsm of 820,- 000 which will be placed in reserve for the year following the termin- ation of wneement; or total benefits accruing during the . of which the 811.000 is not im- mediately payable, of ‘$3.713!’

In reply to a question by Mr. Mc- Phee, the Premier said the estimat- ed motor vehicle llcense revenue was $130,000,

Public Itlhl!

The grant to the Provincial Sena- torlum, he said. is to be continued at the increased scale $48,000. On extra. mural treatment for tu- berculosis, on which $0,041 we; ox- pended last year, there is on esti- mated expenditure this year of 810,000. Od age blind pensions show an increase of fron1 8290.000 to $317,000. In the Department of