_*

ee ee a Se ae

A, AR A NN OE NR i EE ca

ee, OR EE = a Mita, He

ete tie. nahn: WF mn ow

TheDaitp Examiner

MARCH 4, i880.

Local] Institutions and Industries.

Tae annual meeting of the Merchants’ Bank of P. E. Island was held to-day, and we publish elsewhere the report of ihe Directors and the Manager's state- ment of its affairs. Both report and statement show the Bank to be in a flourishing condition. We congratulate the officers of the institution on the suc- cess of their efforts, and the shareholders on the happy result of the plucky stand they took when the Bank was in liquidation.

When we reflect upon the troubles through which the Bank has passed, and find that after two years of improved management, it can exhibit a statement which shows to shareholders a net profit of ten percent. onthe years transac- tions, and to creditors a security in “immediately available assets” of $116,802.64, we cannot but conclude that local trade and enterprise are still flourishing. The branches of the Halifax banks established here are also doing good work, and are, we believe, acting iu perfect harmony with our own monetary institution, But there seems to be room for all.

In this connection it may not be out of place to refer to the manufacturing in- dustries now established in our midst, Aniong the most prominent of those are the Boot and Shoe factory of Messrs. Dorsey, Goff & Co., the foundry and iron manufactory of Messrs. McKinnon & MeLean, the furniture factories of Mr. Jobn Newson, and Messrs. Mark Wright, & Co., Quirk’s Steam Bakery, the Soap Factory, the Charlottetown Woollen Factory, and factories having their headquarters io Charlottetown for the manufactory of butter snd cheese,and the packing of lobsters. All these, as a result of practical and careful manage meut, seem to be as fairly successful as similar undertakings in other paris of Canada.

We are glad to observe a growing desire on the part of the people ot Prince Edward Island to deal with business in- stitutions of their own community; and when these institutions are prepared to supply them with the articles they require on the most favorable terms as to price and quality, it is uo- doubiediy good policy to give these institutions the preference over all others. The competition which comes from abroad serves a good purpose; and we ought to welcome any outside competitor who is prepared to give us decidedly better bargains. But if our people generally could only be made to see the truth that, other things being equal, it is to their advautage in matters of business to preter their home institutions, the trade of the Province would certainly be more prosperous in the future than in the past.

The recent establishment of a whole- sale dry goods house by practical

dry geods men, is a venture which we hope to see prosper. Hithert t' profits of the wholesale trade have one to Montreal, St. John, Ha'lifax, and to wholesale merchants in London, Glasgow and elsewhere. Why should not a portion of these profits remain in Charlottetown? There is nothing to prevent Messrs. Weeks & Beer from going direct to the factories

and makiog purchases for the trade on as favorable terms as other wholesale merchants ; and if so they will be able to supply our retailers at prices as low as outsiders can afford to offer. That they will do this we fee! assured: and they should therefore be preferred before the wholesale merchants of other cities.

Che suecess of the Merchants Bank of P. E. Island and of other well-managed local justitations is, we repeat, a gratity- ing sign of the times.

—WE are icdebted to the Herald fot calling attention to an error of state- ment on the part of Tue Examiner respecting the interest paid by Canada

on P. E. Island bonds. On referring avain to the statement of the liabilitles of Canada we find that all the P. E. Island bonds have been redeemed. and

that the liability of nearly a million dollars to which we referred, is a liability to the Province and not on account of P. E. Island bonds. We regret the error and withdraw the statement.

_—~ =

—The Summerside Journal eongratu- lates ‘‘ Mr. Hackett upon the Provincial view heis taking, in his latest letters, on matters concerning our relations with the Dominion.” Mr. Hackett ought to be congratulated upon giving the Domin- ion view as well.

= SN ome ee

A despatch from Madrid says : A sensa- tion was caused here by the discovery of an apparent conspiracy to effect the stock market fer speculative purposes. Bogus telegrams were sent to the principal stock brokers of Barcelona, reporting without foundation low quotations in Madrid and ordivary large sales. The result was that the markets were badly disturbed. The authors of the telegrams have not been found. The governinent are investigating the matter. It is feared similar tricks have been played elsewhere in Spain.

_——— - i

Serga Ivanhet?, who has been arrested for nihilism by the Russian polico, is ac- cused of having had a hand in almost evory plot sinee 1879. He is thirty-one years. old, was ones s medical student, and had ca =e need ~ exile in Siberia. He

aiso one of the ringleaders in the murder of Alexander II, fen

The Merchants Bank of Prince Hdward Island.

FIFTEENTH ANNUAL MEETING OF SHARE- HOLDERS.

The annual meeting of the Shareholders of the Merchants Bank of P. E. Isiand was held this forenoon. The following report was submitted ;

DIRECTORS REPOBT. Cuartorrerown, March 4th, 1886.

GenTLeEmMEN,—Your Directors have placed in your hands printed statements showing the present condition of the Bank and the result of its operations during the past twelve months,

You will notice that the net profits for the year amount to $14,418.45 or about 10 per cent. on thecapital. This result should be considered satisfactory, in view of the general depression in trade during the year, anc. the consequent difficulty of safely and profitably employing the Bank’s funds,

In declaring the last semi-annual divid- end, your Directors found themselves in a position to raise the rate of same to seven per cent. per annum, and they see no reason, under ordinary circumstances and continued careful management, why this rate at least should not be maintained. The balance at credit of profit and loss account is now $8,058.99, after having written off $1,000 from Bank furniture account, so as to bring this account to a more reasonable valuation, and also paying all the known expenses of the year. The assets and books of the Bank have been carefully examined and verified, and your Directors do not anticipate any loss on the year’s transactions. The agency at Souris has also been periodically inspected, and its affairs found to be correct and in order, This agency continues to add materially to the protits of the Bank. All of which is respectfully submitted.

W. A. Weeks, President. L. H. Davies, W. W.SuLLIVAN, Owen ConnoLty, L. L. Besr, Wa. McLean, Bens. Hearrz. , Mirese.., Cashier.

The following is the Cashier’s statement :

GENERAL STATEMENT OF THE MERCHANTS BANK

OF P, E, ISLAND, MARCH 4TH, 1886. Liabilities.

Notes in Circulation........ ns apace hane 4 $125,980.00

Deposits bearing interest, (including In-

ROIONE GOGRUOG, )ckn sds. ccneessc cesta’ 11,159.93 Deposits not bearing Interest............ 58,500.55 Bee Be OGOP THNIOE,. «ci cccccssccacicascae “SUTE Unclaimed Dividends.................... 169.53

Liabilities to Public.....-............$197,116.75 CE sis Ub ia oko <. osccth oeetee ta 146,000.00

Profit and Loss Account, balance........ 8,058.99

$351,175.74

Assets. Specie and Dominion Notes..............$ 39,065.82 Notes of and cheques on other Banks... 5,259.52 PN Fe hn oan ons hn cscaccncss 72,480.30

__ immediately available............... $116,305.64 Bills Discounted current, Advances se- cured, &c., (less unearned interest..... 224,202.20 Bills Discounted overdue............5.... 303.09 Mortgages, Judgments, &c............... 7,458.34 Bank Furniture Account..... ........... 2,406.56

$351,175.74

Profit and Loss Account,

To Dividend No. 14, 3% June 5.,.......... ¥ 4,330.00 To Dividend No. 15, 35% December 3..... 5,110.0 To Amount written oif Bank Furniture AO as 5+. Aha ev thnwalles ot tilin vows dine 1,000.00 To Balance carried to new Account...... 8,058.99 $18,548.99 By Balarice, March Sth, 1885.............. $ 4,130.54 By net profits for year............+0.: woos 14,418.45

$18,548.99

LETTERS TO) THE EDITOR,

The Lobster Industry. bik,—History repeats itself! We are all familiar with that beautiful legend of the three tailors of Tooley Street, who began a petition with ‘We, the people of England.” Yesterday’s Patriot contains a letter over the signature of ‘‘John Mc- Kenzie,” and reading hotween the lines we find—-“1, John McKenzie, tailor, the peo- ple of this Island,’’

{ am under the impression that Mr. McKenzie's practical information is of the vegetable rather than the animal kingdom. As an authority upon ‘‘cabbage,” he is without a peer. As an authority upon our lobster fisheries he is simply a ‘‘mis-fit.” Suppose, for the sake of argument, that the Government saw fit to close up all the tailor shops of Summerside for three years, in order to afford the sheep an opportunity to grow more and better wool, would Mr. McKenzie then be so lavish in his commendation of this course? An old proverb says; ‘‘Let the shoemaker stick to his last.” We all know what a tailor’s goose is, but in ven- turing to write upon a subject of which he is profoundly and piteously ignorant, it has remained for Mr. McKenzie to prove him- self a goose of a tailor.

Yours, &c.,

SHELL Fisu,

Information Waated.

Six,—I notice an advertisemeut in your paper of Wednesday, calling a meeting of the ‘Original Pooh Bahs.” Who are those persons, Mr. Editor, and for what purposes do they meet? Why are wheelbarrows required at the midnight hour of 12.59, and what burden do they wheel? I ask these questions not lightly or jestingly, but with the full consciousness that we are living in the days of Socialism and Dyna- mite, and I demand an answer,

LOYALIST.

Another Railway Accident.

The regular freight train on the Grand Trunk left the track near Fergus, Ont, about three o’clock on the morning of the 26th ult., and with the exception of the caboose tumbled down an embankment 25 feet high. The train was composed of a dozen cars, nine being loaded with freight. The engineer and fireman went down with the engine and although heavy coal from the tender poured over them and buried them out of sight, they escaped with seri- ous bruises and were soon released from their uncomfortable positions by the other train hands who ocenpied the caboose. Ica caused the accident. The track is a down grade and water had run down during the thaw of the previous day and frozen during

Ly

HR.

"MARCEL

4 1886

THE FIRE FIEND! This Morning's Blaze,

Three Buildings Burned Down

AND SEVERAL OTHERS DAMAGED,

Losses Covered by Insurance

A CASE FOR SYMPATHY.

Axsovut half-past twelve o’clock this morning, police officers Costello and Doyle observed flames issuing from the rear of the carriage factory of Messrs. Younker & Offer, on Upper Queen Street. They im- mediately proceeded to arouse the people living in the neighborhood, who were calmly sleeping, all unconscious of the fact that the fire fiend was at his terrible work at their very door. After this had been done, the bell was rung and a general alarm sounded. The firemen promptly responded to the call of duty. Silsby engine took up a position at Dawson’s tank, and Rollo, with much difficulty, owing to the recent snowfall, succeeded in making her way to the tank at the head of Queen Street. The Hook and Ladder Company and the Salvage Corps also turned out promptly, and rendered good services.

The fire burned rapidly, the flames fairly leaping along the hoasetops and illuminat- ing the sky for miles around. After the Carriage Factory had been burning a shori time, the blacksmith shop of Mr. Fredk. Foster, immediately in the rear of the burning factory, took fire. Almost simul- taneously the dwelling house to the right of the carriage factory occupied, by Mrs. Wayman, caught, and for a time the fire appeared to be beyond the control of the firemen. From Mrs. Wayman’s the flames communicated to the large three-story dwelling house on the corner of Queen and Fitzroy streets, occupied by Mrs. Ellis, but owing to the exertions of the firemen and a number of citizens the flames were soon extinguished. The stable in the rear of this house took fire several times, but was quickly extinguished.

The dwelling house of Mr. Foster to the lefi of the carriage factory which was now almost rezed to the ground, caught fire several times, but by the strenuous efforts of the firemen and citizens the flames on each occasion were extinguished before any very serious headway had been obtained. The furniture was removed to a place of safety and the house saturated with water. While the fire was raging the Salvage Corps were hard at work removing the furniture and other articles from the burn- ing buildings as well as from those threat- ened with destruction. The Hook and Ladder Company did good service, as did also the members of both steam Tire engines,

Fortunately for the town the wind was from the Northeast, placing Queen Street between the fire and the nearest building on the opposite side, otherwise there would doubtless be little more than a few charred stumps remaining of what at one time con- stituted a principal portion of our city. After Silsby had been at work at Daw- son’s tank for about three quarters of an hour, the water supply became exhausted and the engine was removed to the tank at Queen Square, causing a delay which would have resulted disastrously for the surround- ing buildings had not the fire fortu- nately just been brought under control at the time.

The establishment in which the fire

originated was owned by Mrs. Jas. Offer, and wasalarge flat-roof building. three storeys in height. The lower flat was occupied as a showroom and had a black- smith forge in the rear. The second flat was used asa workshop and storeroom, while the third did duty asa paint shop, Stock to the value of about $3,000 was stored in the building and was almost all destroyed. The building itself was in- sured by Mrs. Offer in the Queen, repre- sented by Messrs. DesBrisay & Angus for $800; and in the O:ty of London, repre- sented by John McKachern, for $400. The contents were insured in the Queen by Messrs. Younker & Offer for $2,000. The dwelling house adjoining the factory, and occupied by Mrs. Wayman was aiso owned by Mrs. Offer, and was insured in the Queen, represented by DecBrisay & Angus, for $300; for $325 in the Western, repre- sented by Horace Haszard, and for $200 in the City of London, reprssented by Jchn McEachern. Mrs. M. A. Younker had $300 on household furniture stored in the cottage, and of which she only saved a few articles. Mrs. Wayman who occupied the cottage saved nothing, being obliged to leave the burning building in little more than her night dross. Her cassis a sad one, and will, no doubt, receive the atten- tion of a sympathetic public.

Foster's forge with nearly all its contents was totally destroyed. Loss estimated at $800; no insurance. The workshop in the rear of the forge was by strenuous efforts saved. Thedwelling house of Mr. Foster was also severely damaged, but the loss is covered by insurance.

The large three-story building occupied by Mrs. Ellis was slightly damaged It is owned by Mr. ‘George Henderson and was insured for $200. The furniture of Mrs. Ellis which was sligh'ly damaged was insured in the Royal, represented by John MecEachern, for $200. A stable in the rear of the house was also somewhat perforated in the roof and north side, It was not insured.

The buildings destroyed consist of the carriage factory of Messrs. Younker & Offer, the dwelling house of Mrs. Wayman, and the forge of Mr. Foster. The bunild- ings damaged were the dwelling house of Mr. Foster, and the dwelling house of Mrs, Ellis with the stables in the rear.

Tho origin of the fire is unknown.

a <>

In some places down South where there has been plenty of snow, but no sleighs, a number of enterprising people hitched up a horse to their family rocking chairs, and seated in them went speedily over the snow. But the fact that the average rock-

the night, covering the track with ice. The loss will reach $30,000.

ing chair would only hold one person

Kent Street Grocery Store, Op. the Rocklin House. mi RR. BELG

RALER in CHOICE FAMILY GRO- CERIES, CANNED GOODS, FRUIT, FISH, &. As my stock is all Fresh and First-class, selected by a gentleman of many years’ experience from the best assorted stock in the city, [ can guarantee satisfaction to all, and would respectfully solicit a fair share of public patronage. Orders by mail will receive prompt atten- tion.

R. B. BELL. March 4th, 1886—lLmo eod & wky pd

The Merchants Bank of P. , Island

CHARLOTYETOWN, March 4, 1886,

T the General Annual Meeting of the Stockholders of the Merchants Bank of P, E. Island held this day, the following were elected as Directors for the ensuing year: Messrs, L. Beer, Owen Connolly, L. H. Davies, B. Heartz, D. Far- quharson, W, McLean, and Hon. W. W. Sullivan, At a subsequent meeting of the Board, Mr.

Owen Connolly was unanimously elected

President. F, MITCHELL, Cashier.

Mill Machinery for Sale,

HE Subscriber offers the following Machin* ery for Sale at a bargain : 1 Leffell Water Wheel (large;, 1 2-foot Circular Saw with 40 foot Table, 1 Large Circular Cross-Cut Saw and Frame complete, 1 Shingle Machine (Smallwood « Bovyer), old atyle, 1 Up-and-Down Saw (Meiley Frame), and Carriage, all complete.

2i

a@ ‘orrespondence by mail to be ad- dressed, Box 34, Charlottetown.

JOHN F. BAKER, Runbnary, Lot 48, P. K. Island. March 4, 1886—dli 4i eow

SEED WHEAT BEST WHITE ROUSSIAW,

FOR SALE @HEAP.

JOHN NEWSON. Ch’town, March 4, 1886.—5wks dy wky

TENDERS.

EALED TENDERS will be received by the undersigned until the 3lst day of MARCH, from persons willing to contract for the erection of a Presbyterian Church at Lot 48, according to the plans and specifica- tions to be scen at Messrs. Norton Bros, Store, Charlottetown. The Committee do not bind themselves to accept the lowest or any tender. Two good securities required for the faith- ful performance of the work. DANIEL McLEAN, Sec’y of Com, Southport, Lot 48, March 5—dyli wk’tl dt

ST. JAMES’ CHURCH.

TEYHE Ladies of St. James’ {Church intend holding a Fancy Table, Refreshment

Table and Entertainment, in the evening,

TUESDAY (first), 9th ‘MARCH, in 8t.

James’ Hall.

Doors open at 3 o’clock, p. m.

Further particulars wil! be given.

March 3, 1886.

NOTICE.

LL persons indebted to the late firm of £X% GEO. DAVIES & CO. are requested to make immediate payment to the undersigned,

HARRIS & STEWART, March 3, 1886.

From New York to Charlottetown. SPRING, 1886.

y HE Clipper Barque

“SCLARIBEL,”

now on berth, will sail from

New York for Charlottetown, ON OR ABUUT

25th March, Next.

For Freight apply in New York to Jamrs Epmisron, 27 & 29 Beaver Street, or bere to

L. €. OWEN. Ch’town, March 3, 1886—6i tu th sat

Y, M0, A. LECTORE COURSE,

fEXHE second Lecture of the winter course, before the Young Men’s ‘hristian Asso- ciation, will be delivered by the

Riv. JOB SHENTON,

IN THE

WY. M.C. A. HALL,

-—NEXT--

Thursday Evening, March 4th.

Subject—*‘ WANTED.” Chair to be taken at 8 o'clock, Admission, 10 Cents.

HENRY &MITH,

Secretary. March 1, 1886.

Lovely New Style of Chromo Cards, with name and prize for 10c. 12 packs, 12 names, for $!. A sample pack and ageat’s outfit with iilus-

trated catalogue of Tricks and Novelties, for

el

EER

70.

— Prices on HOUSE-FURNISHINGS :

———aon

CARPETS, OILCLOTHS, ROOM-PAPER, CURTAINS, SHEETINGS, TOWELLINGS, TICKINGS, CRETONNES,

CARPETS, OILCLOTHS, ROOM-PAPER, CURTAINS, SHEETINGS, TOWELLINGS, TICKINGS, CRETONNES,

20: Exceptional values in White Cottons and Embroideries.

We invite you to compare these with simi'ar goods offered elsewhere, and feel confident you will find it to your advantage

to purchase at BEER BROS.,

73 & 75 Queen Street, Ch’town, Feb. 27, 1886.

ere

CHEAP CASH SALE.

CARPETS, COTTONS, &o,

=©

J. BEB. MACDONALD

VW clear out his stock of Carpets at Tremendous Reductions :

Brussels Carpets, Price $1.69, reduced to $1.15. Price $1.50, reduced to $1 05 Price $1.25, reduced to 85cts,

Tapestry Carpets. Price 90cts, reduced to 65c‘s. Price 65cts, reduced to 45cts. Pzice 5icts, reduced to 35cts,

Scotch Carpets! Prive $1.25, reduced to 8bcts. Price $1,10, reduced to 7Scta, Price 90cte, reduced to G5cts,

Hemp Carpets,

: 10, 19, and 14 Cents, Floor Oil-loths, Lave Curtaius, te, ab lib- eral discounts

-—— 0

COTTONS!I COTTONS I

30,000 yards Grey Cotten at cost; 20,000 yards White Cot ge iy Print Cotton at cost. . yr , ton at cort; 29,000 yards

If you require Carpets, now is the time to buy. was imported !ast year.

J. B. MACDONALD,

QUSEN STREET.

A great part of this stock of Carpet

Ch’town, March 1, 18386.

pee ST ao ae ae a

LONBSN HSUSE!

mn J ee ee

Cr CLEARANCE SALE still going on, Goods selling é

cheap in all departments.

a meaner

CARPETS! CARPETS!

Seven Bales Scotch Carpets, imported expressly for Spring Sale, now added to stock. See them.

REMNANTS! REKINANTS!

Dress Remnants, Print Remnants, Cloth Remnants, &c ,

Silk Remnants, Satin Remnants,

en a ee () me

HARRIS & STEWART

SUCCESSORS TO CEO, DAVIES & CoO.

Ch’town, Feb, 25, 1885.—dy & wky

OUR SHECORD

ANNUAL CLEARANCE SALE

a gh ‘

AND SHOES

WILL COMMENCE

Monday, March ist, 1886.

-————

BOOTS

Discount 15 to 25 per cent. full particulars.

Look out for Circular giving

J. C- SPRAQUE & CO.

8c, stamp this ali

tended to make it unpopular.

_ A. W. KINNEY, Tennant, N, S,—mar

Ch’town—2aw 3wks & wy

: mROS.