. ...,1 ‘1 |...--.

“Biron

Market Reports B, grswanrr JONES o 00.. Charlottetown gmmmdanss o! Orealshleldl 1s 00., nmsmu

Xiillliillii

IONTIIAL nouunon or census norms (sex nxlsurr rssvns)

.. 0% inn-um onun .' s

| , . . . . . . .. ... . . .. 0ct1,103l 101.45 , “K's; Montreal . 5K1) . . . . .. Nov1,1n:4,'| 10* n“ yo]: :32: Scotlo . . . . ‘so n“ pa" .. may,

... . _ . . . . .. _ ..

$2,015.”... 1m égsxxsns: issues; s“ m“ llltlsh American P1311 ... . 0 NW 1.10112 102.05 108.35 my Coluxnbln ower hov 1.11114 105.00 105.35 sulldlng Products Sept 1.11mi 101.00 10435 find“ Cement .. 0615,1043 106.85 11111.25 "mods Mnltlul! . . . . . . . .. . . Oct 15.1044 101,75 19125 lgnndlln Pen-er nnd Paper Feb 1.10111 101.85 102.25

“Mam, ygnlrrugf Commerce, . . Oct 1,1000 05.85 _ ro ... ... ..

(‘nr nml Foundry Mdlnn lmlnstrlnl Alcohol - glnllllldnletl Smelters ... .. Bid .. 323mg: Tllrghnd Chemlcsl

00.15

I The Montreal

s ‘)0 7mm“; Plnsers . . . . .. -. k Ex Cos. -. .00 c c

hall-bl steel We 3% _ 50m, 011.. .50 | lotrrnntlornil lzlvkfil V 11% '——*— lnternnllonnl letrulwlfl - v fflpeelnl to Johnston t Word)

' lnnvrlfll 0' - - - - -- Stocks open|ulgn|notv|nsst llsasey llnrrls . . . . .. 4% Ahltlhl ,, _ ___ 3% "ca," Fmnlclllll! ' 12% At bu Rs ... 21% ‘Until? lrllrotifdrlslil o“ "522 glillllllllllellephone 1?: l??? lwo Y, ,, ‘ p .. . . ... __ __ . l“, 5.0.1"?! bteel Lor .. .. final}; ppm A‘ __ 1s" ‘I “I 4

ntn . . . . . . . .. . ower 33- 3 ’

Feline! (forporntlon .. 42% B C 110w" B m] 10')?“ ‘l 3374 34

L‘ Bflllllg (‘om ,_ Cnn (‘ur Fdy . . C" <1 Fdv rm . (‘nu Centent Can Cem 1‘fd 05 Can Gypsum .. ,, (‘on 1nd Alco ... C Puclflc New ... - Cockshtit Plow ,_, Cons 11 Smelt ... Do Brlrlgo .. ,__ t‘nn Steel Con] __ tlen S Wares . ..

I I 3'01 8%! 3 l 8 11.1 | . g I I

Prlre Brothers . Joel-er Power Royal Bunk .. Qhtlwlnlfllll ... - ilmon nnrl lions gm] of (‘anmln .. . steel of (‘nnmln Pfd. ...' ... |y|u|||peg Electric ... ... ...

NEW’ YORK

Alleghn n_v . - -

lump-n" (‘gm (iurds .. -_w_» 2;» lusrondnA ... gun: Bridge .. Bendix vln 0 .. o (l .\llnes ... (‘lnntllan Pnclflc . int Nickel . . . . ..]1l~'l’ 115v 11 1 lrft.‘.i.x_.l.l;n T“ p‘ of wands . .. 1o" i I‘ 1 l“ .1 "onso cue n assay urrls 41,31 | " Consollllntell uns .. . Mc-Front .. .. .. 110' 111 1o 1o. l. fpmnlt-rcllll Solvents ... ... .. Mont Power .. .. 118 Ill 48/‘| 411%] will. l Dnmlnlnn Stores . . . . .. Nut Breweries 251,11 25%| 25L; i Electric Power and Light .. Ogllrle .1111‘ .. ..|150 ' 1 p“ Flyllns: ... ... .. .. m 1:010" tarry» ~15 145 ~13 |-l3 ‘l Ilenrrrl lspn ... ... rue ros. .. 30 i. General .\lotors ... ,... ... Quebec P000 upyd 34.3‘ 341$’ 34% *_ ‘Jondyenr ... ... .. hhatvlnlgnn . . . . .. 40 l-lolfi 40 |40 . rnternntlnnnl Hydro Electric tecl of Canada .. 28 |28 27%| 27-14 - gitfingltzttvllojldifilrglrlvos-ter I...‘ u b of Lonads HLARKB | _J [lnntgmlllrry Wnrd . 177/. Royal .. .. .. ' ‘I [244 1244 Xlsgam lllllllflll Porre 10 Novn Scotln .. [Lllllfiifly-ltll. Flrnmount 1'01 x .. 211/; Montreal .. .. 240 [3441 Pnnlck lldllll 1101;? .. 31:2 Fonnnr-rl-o .. 201 ‘201 ', Poor on ('0. .. ... ... l1 1mm .. . 1W. " ’ Kenn ltucbur-k ... .. 40-7 tltsnrlnnl 011 of New Jersey 311/: Sterllnl! Securities A . . . . .. 2- _ Slmlehnker ... ... . . . .. ' 1'. s. son .. .. 0.1-4, N bb Vnnnrllnvu . 2:‘ ' Yellmr 'l‘r|n~k .. 7% . Esll Money ... . . 1%‘); ncnvu noun PRICES own _ _ __ e o o '°'“’°“*"°~“ '"‘°"‘""*~ Associated Sccurltncs 331M111‘. '.' .5132 ll-Té‘ 132:1? .013 99-490 owl-ed w-wm- ' s c Pow .. n11, pu 101:0 10-.- 00 10.1.11: c" hive invested m0“ this (‘en 12-111 -511, pc 1041 014.15 100.011 $91.000,000inAssociatcd se- ‘(llnp b‘]1{enn1 ltlpc 1061 51.110 01.50 curiflfl, San-m of these org ... .. 1n: "='=.".‘:.a';‘“""-=.-- M c r n 5pc 1054 102.11 104.00 _ ' (in: You 5pc 10.10 1141,01) 311w _Assoc|e ’ Gas and Elec- Ont Pow .‘. flpc 1041 12.50 11.00 m: Company $6.50 Cumu- liggtcpilwko Wine lstive Preference Stoclr isan ' , ' P” - - -'- nttractiveinvcstzn backed i122’ 11223 1 2135 133i’ 11131.13 1331311’ by "more m" e" we“ “m, 1,“, _ 5pc m5, 03m “mo; charger, equal to 3.75 tlmcs Mon 7mm 1 --; 1 dividend requirements. You . l/fipc 10.. 81.50 110.00 g:- Plqw gnu 100s 101,150 100.50 cm tilt-vent by rlvins $10 I sw ow . pc 10118 D .00 0s. .'i mon . Shaw Pow . 5pc 1010 100.50 101.25 . Unit Scrur . 5% oc 1002 100.00 101.10 ‘fiiflilw- 14049576- DOMINION o! CANAbA Associsterl Gus end Electric

Securities Com ‘any Incorporate

01in If MARITIME ELECTRIC co l, Chsrlottetown P. ‘Mm l Please send me lnformetionnbour

101.70 l Associated $6.50 Cumulative Preference Stock.

Nsme

Acldrcls........|.....

ouAnAn-rsnn norms ’ xosrn ‘

o = =1-

101% 100.25 101.25

.,-.-.:o In-

nnnooncnn: 272222222 ww=w=zxwwq

...-....-

5110 107.25 117K771 5pc 1070 107.25 1.08.7;

‘n Stewart Jones 8e Co. Correspondents of

Greenshields 8e Co.

Embers o! the Montreal Stock Exchange

1_-—

88 Great George 8L, Chwlottelom I

{if

l l

A

Investment Opportunities

Attractive yields are currently offered by investments qrrying fixed interest and dividend rates. By placing funds m selected Bonds and Preferred Shares at present prices, satisfactory income returns can be assured for extended periods. The exchange of short-term securities for those of longer maturity merits consideration.

We shall be pleased to submit our recommendations.

Royal SecuriLtliruesd Corporation

Riley Charlottetown Telephone 822

onnsrpntqplsuuesmn-Mw-Je

lee; \.

YssTocKA 07000010,

..\L\L\II . ..

J4 -.< Ah

The Fishery Industry. An Important‘ Asset

No review of Prince Edward Island activities would be complete without specific mention of its fisheries,

which with modern facilities for transportation,

canning

and ‘freezing is a factor of increasing importance to the

Province.

No one is better qualified to deal with this

subject than the writer of the following article, who for many years has been in close touch with the industry.

By S. T. GALLANT Superintendent of Fisheries

In The Golden Future

0f all our fisheries, the lobster indus- try is the most valuable to this Province, the annual revenue derived therefrom being approximately $900,000.00 each year. From the inception of this industry up to four or five years ago there wins an annual waste of approximately $150,000.00 from discolora-

tion in the cans in which lobsters were put.

up. A scientist was employed by the De- partment of Fisheries to look into this mat- ter, and after experimenting for two years the conclusion was reached that the dis- coloration was partly due to a bacterial action after processing. The meat was found to contain a small amount of vola- tile sulphur, ammonia. and hydrogen, and when exposed for any length of time to bac- terial action, these elements increased very rapidly, establishing an alkali in the can and a consequent discoloration of the meat known as iron sulphide. This condition, it was ascertained, could be avoided in strict- ly sanitary canneries where the meat was properly and expeditiously handled. Lob-

_ sters must be boiled alive and fully processed

within two and one-half hours if all bacter-

- lal development in the meat is to be avoid-

ed. It was also recommended that a small amount of acetic acid be used in the pickle in order to neutralize the alkali in the can and thus prevent a chemical action after the meat is, processed.

Since these recommendations have been adopted there has been a marked improve- ment in the quality 0f the canned goods put up by our packers; in fact, the bulk of the Island pack is considered equal to the best produced in the Maritimes, and we may, no doubt, look forward to further develop-

ment of this valuable industry in the near _

future.

Codfishing Industry Important

The codfishing industry is at the pre- sent time receiving considerable attention from the Department of Fisheries. Mr. George EaFle, of Lunenburg, is now employ- ed in giving instructions to the fishermen as to the best methods of cutting, splitting and curing this flsh. It is strange to say that from the beginning of this industry

_ up to a year or two ago little or nothing

was done to improve the quality of the cured product. With an improved product on the market, and our fishermen benefiting greatly from the higher prices obtained therefrom, thi fishery is now destined to

n develop to a marked degree in the coming

years.‘ It has now become a recognized fact. that fish is a most important and nutritive food, with the result that its consumption ls becoming greater from year to year, and as our fishing grounds on the north shore are among the best around the Maritime coast, we can undoubtedly look for further development in which our fishermen will unquestionably share.

The herring industry is also becoming

Oyster Experiments

Some experiments were carried on last season in Bideford and Grand Rivers by Mr. Dodge, who is a practical man on oyster culture, and by Mr. A. W. H. Needler, a scientist, who is now located at Bideford with a Mr. Sherwood from England. These men will carry on experiments along these lines for an indefinite period, or until such time as they can arrive at some conclusion as to the best method of oyster propagation. Bideford River is now well stocked with small oysters, and in two or three years there will undoubtedly be some good catches made there.

Freezing of Fish

The brine method is the only system that should be adopted in the freezing of fish, as this is the only process whereby the original flavor of the fish is preserved- It is doubtful whether this system will be car- ried on to any extent in this Province as the cost of an ammonizrfreezer and storage plant would be in the vicinity of $15,000.00 or $20,000.00 and as the season for cod, her- ring and mackerel only extends for a period of some five months during the year, it is questionable whether or not this wouldbe a paying proposition. The main centres, however, will no doubt employ this method of freezing within the next couple of years; in fact, there are two of these plants now in operation in Souris.

The Department of Fisheries is now of- fering an inducement to Fishermen’s Co- operative Companies by paying 75 per cent. of the cost of bait freezers, and when t! no plants are operated by a person or firm, the Department will contribute up to a maxi- mum of $4,000.00. No doubt some will take advantage of this very generous offer.

Trout Fishing

There are some eighty mill ponds in this Province, 75 per cent. of which are teeming with brook trout, and upwards of one hundred streams where sea trout may be fished during the summer months. Any angler wishing a real afternoon’s sport should go to 0’Keefe’s Lake, which was stocked with rainbow trout four years ago and in which there are now trout weighing from four to six pounds. The season opens there on July 1st and closes on the 15th October. Two other lakes have also been stocked with these fish, viz., Afton and Fort Augustus Lakes, but these will not be open for fishing for two years.

As a guide to the uninformed tourist desirous of fishing trout, I would suggest that a list of the millponds and streams be available at the offices of the Tourist As- sociation and the Supervisor of Fisheries.

PAD a. .

"o0 n1 mini

“All -

BANK OF MONTREAL

Established 1811

0/1 presentation, in easily understandable farm,

of the Bank’;

*3

q. 4

SEMI-ANNUAL STATEMENT

1 30th April, 1931

LIABILITIES

LIABILITIES TO THE PUBLIC

Deposits . . . . . . . Z Payable on demand and afier notice.

Notes of the Bank in Circulation . . . . Payable on demand.

‘Letters of Credit Outstanding . . . .

Financial rerponribilihh undertaken on behalf of ruslnmerx/tn zom- mncial trmracrion: (u: oflielting amounr [x] in "Remurce: ‘).

Other Liabilities . ...|‘ . . , . . . Item: which do not ram: under the floregolng headings. Total Liabilities to the Public . . . .

LIABILITIES TO THE SHAREHOLDERS

Capital, Surplus and Uudivided Profits 8t Reserves for Dividends . . . . s

Tbi! amount represent; the xhnreboldnf iuturul in the Bank, over which liabililier to the public lake precedence.

Total Liabilities .. . . . l . o

RESOURCES

To meet the foregoing Liabilities the Bank has

Cash in its Vaults and in the Central Gold Reserves

Notes of and Chequm on Other Banks . . o Payable in cub an presentation.

Money on Deposit with Other Banks .- . e Available on demand.

Government 86 Other Bonds and Debentures o Gill-edge Serurlrir: practically all afwhirh mature at early data. Stocks . . . . . . . . . Railway and Indurrrial and other flock: s! or below mike! value.

Call Loans outside of Canada . . . .

Secured by bondr, stock: and other negotiable ' ' of £12000 value than the loan: and reprerenlin money; quickly avlrilab rub no disturbing eflecl on condition: in Conrado. -

Call LoansinCanada . .

. o o Payable on demand and secured by bond: and ‘slack: ofgnabrr waltz than the loam. '

TOTAL OF QUICKLY AVAILABLE RESOURCES

(equal to 55.72% of all Liabilitis to the Public) Other Loans . . .

To manufacturer)’, farmers, mar/mu: and nlhen, on condition: con- xlmnt with round banking.

Bank Premises . . . . . . . Tb ‘ I ' d ' fl: b ld' ' ; n. ill T532515? ey/TZLFIZZWLL 224x117; Jdiiymhphfi and appear on the book: at $1.00 in each cur. All other of the Bank ‘r pvtmim, the value sf which largely exceed: $14,500,000, 4p- pear under this heading.

Real Esmte and Mortgages on Real Estate . . A: 31rd in the mum afthe Bank‘: burinerr nndin pmcer: of bdng m1 lzrd upon.

Custome s’ Liability under letters of Credit . . Reprerent: llhbllkic: ofzwtamer: an account ofLcttrv! ofCrcdl! isrutd by the Bank fbr their acraunl.

Other Assets not included in the Foregoing . . Making Total Assets of . . . . e to me: peymen: ofLidbi/ltie: to the Public of

leaving an excess of Assets over Liabilitia to the Public of

l

PROFIT and LOSS ACCOUNT Profits for the hslfyeu ending 30th April, r931 .

Dividends P.1d or ptrysble ... Shareholders . . 53.160.000.00 Provision for Taxes Dominion G... t . - 334200000 Raervstion for Bank Premises . . . . . 309300-00

Balance of Profit and Loss Account, October 3m, x930 s . Balance of Profit end lass carried forward . . .

s e 5e

;scs,7so,o9o.4s 2x66794100

8,973,911.94

2,334,491.71

.._______ ¢71o,72s,4s7.1o

76,171,269.11

$7s6,s97,7o6.21

s 79,31z,o99.47 s6,7s9,szs.49

16,937,790.32 216,329,624.76 1,299,802.11.

$4,040,768.27

11 $47,487.68

._.__.__._ ;s96,oz6,9o1.1o

361 ,918,245.42

14,500,000.00

1,780,837.77

8,973,911.94

3,697,809.98

;7a6,s97,7oe.21 71o,7zs,4s7.1o

s 7s,171,2e9.11

51.771.753.71

2.640.0oo.o0 8 131.7537! 947047.38 5107:1001 .09

The strength of a bank is determined by its history, its policy, it: management and the extent of its resources. For 113 years the Bank of Montreal has - been in the forefront of Canadian finance.

l

Caress-vi e- w; .0.-. ~ ‘-

u fies of ' more valuable from year to year a a large Q a” “Caught Zllirl-xogeafltilrlptgtztgnt Full Loews m mun 30%| man nsyl- 14 quantity of the spnnQ catch is placed in mfnsgiar-d-Z 1,'~.f_,i|, 1,1,3‘, lfgif; ‘-‘* w"! filer-me for for food- Our Fishery Of- Cod ..... 5,160,000 lbs. 1133-1-31]; - - 1='-'/-==+"-='1*|0;1::= , , ' . e . ' s ficers have been given a practical course in Haddock _ 175,900 lbs, Nlit n v15 :0 lax-y! m: l- L; , ,_ _.‘l/ 21V; 211,’ L‘ — the curing of fish and are now competent _ Hake . 2,463,800 lbs. but‘: Peel-l ..| 05:00 ranl fish fi-yla-l‘ ‘ to instruct the fishermen in the proper Herring 5,154,100 lbs. lisclrmhlho “uni” “l,” l" W|+ y. methods of putting up m. fall herring and Mackerel 919.400 lbs. 5;; 2:33,; _;| £32,] -“ l- ‘t, -‘|**:‘;f; .- I.‘ mackerel. It is the intention to have these Smells .. . 948,900 lbs. f.’°‘,‘,“,,,“§"_, 72' \ 12,, f", flsh graded and inspected by the Officers, Clam and Quahaugs 4,215 bbls. $331,063,,” -- flit-I ~30, “"- l: which procedure will result in the increased Lobters . . . . . . . . . . . 7.636.000 lbs. R K 5° - -: lfgl 14f“ I‘ 141"" “5 s . -' V.

value of the flsh put up under their Oysters 4.028 hbls. s“'1i.nli§i' :05,‘ gig-ill 5.1; T; ‘u .\'l t‘ . .. L‘, . -, i , .’

dlmcimm Scallops . . . . . . . . . . . . .. 120 bhls. A imgnclllc mph igvllzgzr.‘ 11f’ |+ ‘.3 b h. h

. . rnms '3 m vi i-i- Q lg , . s u 1:1 - 1141140214. 41014 6L"l'— ‘.4. Am Tel Tel |1uu|u|nn|nuu|m=a4|+2n m» Pro ...| r014; 00 nssm 5000+ y. s o .1 i? J am. 34%| :00. :u=.|'+ u. v y kl Am Tohnc ..|00w110w1mm||m1|l'— l’. n r liunont .1 10 111M115 7001+ w stunt-unru- .0151 18 I 111% 170-14,, ' 8w or ' Ill-aural.“ ' uibl-lbilwyillliiilllliil it” big: i-Jitco l 'llivl iii/l iii-w ill-bald: ii-imv i301” |1='4l'|1*;*'=<'4§l vi

--- 1 z ----.2-.1--/-r-.’ I- - -~ ' . ... ..-..' - Aub Auto ...l1a.'| 001141105 1m ~11 r0: Film 10.1 10m 1:10;: 1410+ ', 1:11“ n 11 zest/d 11-51‘. — 1°" do 1191M.‘ 30'1"") ‘@531 Ex h '* Belt 01.1.1 50%| 50%| 50%| 001/, +1 Gen 11m 1s M0101 '1:- |I1R'~5I+ ‘l. 1- Carl» Lnrb 4101-1 401-! -- c ans‘, Beth Steel - 41 141M141 H. 1+ l’- m-n u» . 11%| :10~1,c|:|4-1',|:1o=||.|- lfnlt 110m .. 2o H _ n s .. 10%| 10%| 10M. 105v.- lillyl‘ nun bu.‘ nsv, 01%. 08% +114 U u mo; _ I ‘ I g” _, "‘ -— it :|.:::".:.:" . ':“ 1| mi" " ' ~" t ~ rspobu a amm- o Word) - Chess unto"- am | - 1m lllurv- .f '1 01V," 44w mu 4414+ M. u s wet-l . gglllllshll-ow l-astlNtch Chrys Mo my. 1117:1101; v-u- lnt N011.- Inm m.| mo no|.|— 14 no Him -. ' ii "n1 12 ‘l8 + 56 Corn Coln 1310141140 'ltl‘)'-_-Hll |— 1m '1'--| 1 2r. 1 25%| 2014.1 25141- y. “urn B lo 100941000105 101 + es nu (‘orb ...| (my 0:04 m". ' .001...- 311111 --11|.|4u,;,14n||42'.1,- V. West 111M --'~’- - ' _ .-_-_.... _ . I g,‘ a m +2!‘ m] qom" Jlzbivillulrnilizik '11P: v im‘ m" ll: llllll/‘lllllbtl tlllllil*lléil‘\‘inolln(j"r' " wyl n .1. p" '1'. '"‘"" “"'_""""“"' n — COIII ll ... l‘ _ 8 mm 1'" . .. t’ —- ' ‘or .. g | -’|| "gl-u"; - ‘I. . ___ _ - pm css.._._.|ss9g|n|9¢|ou rain-fling n,» n .4110: | 1 1+ as x '1" Conch s I s n m1 11-1-1- 4195-"99"

,.

you had bought.

i‘ ronnors rrnnuzrns

We cannot advise you whether or not you should plant potatoes" We do know however that a good year generally follows a discouraging one, and if you do not sow you cannot reap. The potato crop grown in 1924 sold at very low prices but that grown in 1925 sold at record making prices. The crop grown in 1928 was hard to sell at. all yet. that grown in 1929 gave big profit. Will you be in a position to participate in the returns from the l9ll crop. Seed is cheap. The product may