AH 1th!!!‘

“What Behind A

. * Your Investment ?_”

Securities recommended by u, cg" y" M; on], ‘k

bendable income and adequate

‘“. 0f llriliqipie, but also

offer you a wide choice of carefully selectedissues, and w. lonai contact with an investment house thoroughly equip. ped and well qualified to help you select th'e offerings best

suited to your Jirements.

Eastern Securities Co.‘ Ltd.

INVESTMENT

BANKERS

‘ciisanorrllrowu, r. a. r.

ST. JOHN

MONTREAL

HALIFAX

i Bonds’ of a- " 0mm. Tflple-Sefvige 5.1“ Publlc Utility 5.15.... a _ Orrin LECTRICITY —— gag - may; y, . l3" Pltillorl: these three es- Vlsnw Pena: ' pub ‘c services‘ a.“ Blow-idea _ ll'l allfax by Nova Seotla Light and Orlando's Power Company,_Llmlted. _ $11" Th‘: Cilminnl," Ploprrfies are mod- u-o ‘ em a_nd_ eflicleut. in jusiness i; lbw- steadily increasing. _ Halifax ingrow- c‘*"-"~i Lrlgmaes. a commercial and shlpplug ‘“'“""'“ Nfivl Starla Li he and Power 57 gains-a Flm M°"81£_¢‘ 0114.8, maturing Jun: 1st, 195i}, arena our cpmlqn.‘ “um-l and desirable IBVCSIIDCDL. , We offer a- limited amount of these Bonds at 98 and accrued »in’t'erest, to yield 5.13%. Descriptive circular will be supplied upon request, _l.-s

Royal

Riley Building,

Securities Corporation Limited

Charlottetown

Telephone 822

In Memo riam MR. PETER KILBRIDE

On Jan. 14th after one week's ill-

’ ness, peacefully and gently. as the,

course of his life had run. the Angel of Death came to Peter Kiibride of Lot il Parish, his beloved pastor. Rev. Rh-Mcbonaid. administering the

. last rites of Holy Mother Church.

He‘ was a life long and rnuchioved .esident of this prosperous district. and with the help of his faithful wife who survives him, converted the green forest into smiling fields. Ev- ery movement for the advancement of public good, had his generous sup- port and his large family of three daughters and eight sons were given a good educstio . Of the latter. two, Justin and Eneas have gone before. Justin. Eneas and Frank saw service at the front during the late world war. Justin never fully recovering from gas inhaiatlons. '

Arling. Adrien, Eugene, Wilfred ant Ferdinand have each made a success in their different caiiings. The daugh- ters sre. Grace. Mamie and Florence. R.- N., of Lewiston. Maine. the latter arriving in time for his funeral. To the others, at a istance. who had not this sad consolation, we tender our heartfelt sympathy.

A large number of his neighbors

andfriends from the surrounding par ishes. followed his remains to its last resting place in St. Bridgids quiet cemetery. The Requiem Mass and services at the grave being said by his beloved parish priest. The pail bearers were John En- man, Aiherton. Laughlin Murphy, Austin Ramsay. Jas. Boiger, J. Kelly. Francis MeOregor.

JOSEPH RAYNOB

On ‘lfilesday December 28th there Dassed away at his home in Enmore.

" Mr. Joseph Raynor in his 80th year.

born at Travell- er's Rest where for a number of years he profitably engaged in black- he removed to llhmore whens h; combined black- suulzung and flrlhilll’ with consid- erate ouoous. The funeral servloc’ held ‘at, his residence was largely fir. tended. ltev. Mir. Brown of SD

wIN:- Robinson. Geo. Bolium. Walter Molntom. John l’! ' Pom Ad and Alfred ‘loom. to. mourn. bee!“ t widow fivewiaghterl and five ‘sons

w»- In. coo: h s, contractor. Ouliver city.

Kennedy and

m, Minarllsiinililo‘

Mass, Laura. n. A. of Saskatchewan, Elton, farmer, Mt. Herbert. P. E. 1., 011N011. sales manager. of Camp- bellton, N. n. Harold ualtoqohur-oh minister, Elrnsdeie N. B. Bimini-ls, CS Ottawa, and Allison farmer and fox rancher at home. Mr; Raynofs residence at Travelier's_ Rut 1nd Enmore won for him s large circle of friends who testify-to. his many fine qualities as a citizen and neigh- bor. .

ROY H. KENNEDY

Roy H. Kennedy, son of H. P. wife, of Kingsboro East Point died January 16 of a complication of troublesat the age of S6 years and nine months. Roy was never russed. but his death w an astonishment to all his’ frien He was an esteemed member of the Kingsboro Baptist church. adorning by his chily life the doctrine of God =ur Saviour. The funeral was at the home of his rents and the body was buried in the Kingsboro cemetery under the auspices of the Orange Lodge of which m was a member. . Asleep in Jesus, bleued sleeP- From which none ever wake to weep. - , ..____. ..__. BENNETT SPENDS WEEK I - ' VISITING IN CALGARY

OTTAWA, Jan. 25.—Hon. R. B. Bennett returnedio Ottawa on Friday evening and left for Calgary Satur- day evening, ,_ “ toretllm he" by January 27th, lid)‘. Bennett's trip to cglgary is on personal business and hag ho political significance. While here he would hot discuss tluuwest ' “ =' '.,..‘.l....."“‘o.sz....fii was very disap l oohalem had not been. nominated- When he left here for Eflllwli .1" fully expected a candidate VMM, b! placed in the field and made his ar- rangements to returnJrld PIYWDI" in the fight. ‘

FLU

cl ha may yistlilllLln 0-w- and should'be mo“! 08:01

~52

is a Great Preventatiw."

of bottles being.

‘rhroacilisthma and . _. H! sale Ivy-ail slush!

toOernu. ___ heedevlfy-GIYJ

“nova Scotia held in Halifax to-day, m". S. J. Moore, the president o1 the ‘mk- "m1" 1B "1118 terms to the *8 i-hB-t the hid sustained wls the yw through the death of

.1. MacCaiium Grant, Director or‘

.~ hank for the last thirteen years,

- through the retirement owing to health of Mr. Charles Archibald J uad been a Director of the Bank . tuirty years and was President .n 191B to 1922.

Mr. Moore outlined the chief de- fiwllrrleuts of the post year, com- Jifilllllllg particularly on the generally Qmiberous condition of the country lllld calling attention to the further exploration of the country's mineral resources. He referred to the in- crease shown in the country's foreign "M19. mentioning that a great part of this was duo to the very distinct improvement during the year in Euro- pean conditions. He commented on the unfavorable balance. amounting b0 $293.000.000. shown in Canada's trade with the United States and went -n to hat

‘ pa. . c. the manufactured product imported from the United States ouid, under more favorable condi- .ions. be made in our own country, thus furnishing employment to a. greater number of people, while other portions could undoubtedly be purchased in Great Britain."

He referred to the progress that had beenmade during the year in for- mulating a policy in regard to im- migration and said that he looked forward to the arrival of a larger number of desirable immigrants from Britishterritory in 1929.

He drew attention to the keen competition prevailing in most indus- tries’ at the present time and stated s "this was not undesirable unless it became reckless or unintelligent. In the latter case it works for a de~ moralized price market and unnec- essarily reduced profits. There is a happy mean in this matter as well as in others, and instead of com- petition reaching the point where it is ruinous, the spirit of co-opera- tion should dictate a saner policy." In regard to the prospect, for the coming year he spoke as follows: "The outlook for 1929 is one about which there‘ is almost unanimity of opinion. A spirit of optimism pre- vails and appears to be fully justi- fied. Not only can‘ we expect the first hslf of this year to be one of

Brest activity and prosperity but

lookingJarther and into the long

future it is not too much to expect that an unprecedented period of

Plblperity lies ahead. The prospect . challenges the best efforts of our

People and if these are wisely dir-

eeted there should be a continuation of prosperity for years to come.”

The General Manager, Mr. J. A. McLeod, reviewed in detail the bal- ance sheet of the Bank submitted to

' the shareholders and expressed his

gratification at the esmlngs that the Bahk had been able to show for the year just closed. On the subject of earnings he commented. as follows:

“Although it is with tisfaction tbat~we are enabled to show in- "creased earnings for the year, yet we do not feel that banking pro- fits generally are as large as they should be. The public has a s0me-~ what mistaken notion in regard to the profits of the banks, for there is no line of business in which the margin of profit is so small when consideration is given to the risks involved and to the large. volume of transactions. Certainly banking profits are not comparable to those of, other financial institutions and large industrial corporations. Not- withstanding largely increased ex- penses, such as salaries, taxes and other overhead charges. the rates for banking services are still prac- tically at the pre-war level. If the banks of the country are to do their proper share in its development their system of branches must be steadily extended, particularly into tho outlying districts and newer sec- tions of the country where the pros- pects of profljable operation are somewhat remote to say the least, and to do this their earninBs must be maintained at a high-level."

He concluded his comments on the balance sheet by remarking that the statement. showed a healthy growth in the Bank's business with its affairs in a strong and sound position and its earning power increased.

In reviewing the business develop- meats‘ -or the year he commented on the trend towards consolidations and amdlgarnations of industrial com- panies. He mentioned that

"the movemenlfhad been a two-fold one, comprising on one side the uni- ting of large and outstanding com- panies and on the other in a more quiet way, the passing of many old r established smaller companies into the control of larger competitors Accompanying this there has been

At Oolchester, England. recently the annual obeisanoe was PPBIOYmBd

Ill. linking Bough . In: fives-ell lly I Bronchial Gold

Ma's. Prhnoau, ao Ingram so. Qlatham .On_t., writesz-"l am ‘pleases’ this pportulllty oi’ telling yol" my experience with - l or. Wood's Norway Pine Syrup '. ‘fllariy last winter I luflsred‘ from a hvere-bronehiil cold that left me with masking cough. After with it, both dsy and louis time I bu! a professional "r g"- 209;‘: w remedy

100W i , u sh leoh ol- fiaruohiinla. llf or lacuna».

_\

CTHF

st the Annual Meeting of The Bank i

4

'..4nnaal_ Meeting of , Bank of Nova Scotia

a transfer of control toCanada of several large companies, operating in this country that have heretofore‘ been owned abroad. These two‘, m9 ernents are an indication of the‘ gi-o th and strength of the Canad- ian industrial situation. There are ‘HOW ‘novusul OOIIIPGHIGS 111 U118 country that in size rank amongst the world's largest in their line of business." ~ He referred to the present , tive enthusiasm that had-prevailed during the past year in the stock markets oi the country and went on to say that it had been the experience of many nations for at least a century that in times of great prosperity well justified optimism was apt to develop into speculative enthusiasm. He con- tinued that "the earnings from hard work and proceeds of loans based on good credit, have time and ‘again been spent extravagantly or invested un- wisely. While fortunately there is little evidence of wasteful extrav-

porate or public expenditure at the present time. there is no doubt that the general level of stock prices has advanced beyond real values and to a considerable extent now repres- ents expected future benefits. It is

securities irl certain growing indus- tries have shown considerable ap- preciation, but only the investor who is able and willing to wait a long time can expect to reap the benefit. Experience has shown that in the long run stocks as a whole must sell on the basis of an assured current yield oto the investor. In spire ot the present large security holdings by insurance and invest- ment institutions who have expert knowledge and can afford to wait, we can see no reason why the usual relation between stock prices and stock yields should be modified ap- preciably."

He referred to the generally satis-

from the newsprint indus‘ y, and mentioned that commodity prices were stable, that there was no infla- tion oi‘ inventories and that 1h his opinion there was ample credit avail- able in the banks for further expan- sion of lqgltlmate business. He felt that the‘ outlook for busirlea in 1929 was most encouraging for the first six months at least or until the crop out- look was ascertained.

primarily the present prosperity of the country was based on the good- crops by which it had been blessed during the past four years and on the discovery and development of new and important mining areas the poten- tialities of which had not yet been fully explored. ‘

He went on to say that there was another factor the importance of which had not been fully realized and ascribed it to the increasing use of science in industry. He instanced the discovery and development of Marquis wheat by Dr. Saunders which had added-stupendous wealth to Canada. the development of Hydro Electric power and its transmission over long distances which had been responsible for much of our industrial growth, and emphasized the point that all these improvements were the natural result of patient and steady work by scientists hl their laboratories and in- ventors in their shops. He drew at- tention to and commented favorably on the work of the National Research Council of the Dominion of Canada and u mmend -‘ the establishment of the Ontario Research Foundation, He emphasized that in recent years, as a result of the trend towards reseflch, more and more scientific methods had been applied to business.

"Budgeting of output to a sales objective determined by careful market investigations beforehand. has in the best managed plants re- placed the old ‘hit or miss’ methods, with the result that over-produc- tion in such cases-has been largely eliminated and earning power sta- bilized and increased. Accurate in- formation is now available fgom Government departments, research organizations and economic bureaus on practically every phase of indus- try and one can speak of the ‘sta- tistical position‘ of almost any of the important commodities. In some cases it ‘l. even possible to forecast price changes some time in advance. This has been of tremendous benefit to business generally. Thanks to the comprehensive and accurate statis- tics now available, the analysis of the general economic situation has become a matter of tmeasurement rather than opinion. Certain of the banks, of which we are one. are studying and watchins the” measurcme its with great care and making the significant changes known to the public through their monthly letters on business condi- tions." "

to the oysters by the singular meth- od of the immolation of some 9000 c! the race.

Year "y year this solemn celebration reminds us a trife tardily. that we have embarked on a fresh season. for the consumption of these delicacies. Yet it is not. as is commonly suppos- cd, this years oysters that initiate ‘the gourments’ banquet any more than it is the vintaso of the year mlivens the harvest feasting of Bordeaux

Oysters like wine mature with age: and to the real connoisseur several years are necessary to the developm- ant of their full protection. Experts It seems, can detect the year of or- igin with unfailing accuracy. They lay down‘ oysters as others lay down port. andfliebml l with one another concerning such points as whether the bouquet of the '25 will improve with mother year in the shell and whether there is not some danger that an excessive Loportiorl of the 2i may turn out to corked. Meanwhile the comrmn oyster eat- er who has to be content withhuit- res ordinaires is less concerned with tllg minutiae of the great vintages (or should we say ostreages?) than

with the soaring prices that prevent big getting oysters at all. _~

(jl-lAlllllTTElfim"

agance in either private or cor- '

quite true that over long periods of “ years in the past the values of ~

factory conditions of business aside’

Mr. McLeod stressed the point that N V

n11 a rvnr KN

r

“V.

lzollolsoy and (Vicinity,

Messrs W A. MacKirmon and J. B. Macormnc, Rollo Bay. West, were re- cent visitors to Bear River.

Ml‘. S. R. Johnson. Fortune Bridifi. was in Souris recently on a business trip.

Mr. George Mullaly, Gowan Brae, left; Friday for Boston.

.Mr. Arthur Wood, Rollo Bay, was in Bear Ever recently one. business trip.

The death occurred in Toronto ill-St week of George Cairns, son of Mr. and Mrs. Frank Cairn-i. Souris West. The remains were acoom _ 110ml‘- by-his aunt, Miss Ella Mullaly. Fun-

from Souris ,West to St. Alellls Church, Rollo Bay where Requiem Mass was celebrated by Rev. J. 0- Moomorl, v. o. P. P. of Bouris. To the belleaved we extend sincere syru- pathy. .

Mr. n. y. MacRae. Rollo Boyle attack of the Flu.

m. James White, Rollo Bay paid a ‘flying visit to St. Cilarles Sunday

last.

we reg-let the ilness o! Mrs. An- drew 11-. Peters. Rollo Bey. Ewt W! hope for her speedy YBWVWY-

m Soul-is Slllpbinil club were lovi- lhc iivelhogsWLrirlesdflY- . twee shipping were, Messrs Peter Bulk?» Rpllr) Bay, Howard Wood Red House. J. F. Townshend, H. J. MaeKinnon. and Perel- Menus-mac. Rollo Bay.

Saturday of Mr. Henry M-wKee- ° funeral took place Tuesday 33 "d-

.Ws are prepared to attend to 7"!‘ s... wooll- 5M can “only "It quality of hard and soft Mll- 151° petrolennrand Besos coke. Prom!‘ service. lowest prices.

W. D. Gillie & Co’

Phone 17C

.

Formerly

oral took place Saturday mornnB -

confined to his home with a severe _

/

GOODANEWSO

This i; the Final Blow in uio BIG SHOE SALE z

Wonderful Low Prices,

We Must Vacate This Store n By February 4th

l

Hundreds of Pairs of the Best _of Footwear

Yet to Choose F lion";

. SATURDAY the FINAL Day or This Big Sole/f

Be Settled

All. Outstanding Accounts of Morris Smith Must

At Once

Office Open" Daily :

' Yarmouth Salvage, A Company i, i MORRIS

69° SMITH a

eQuheen Street, Charlottetown

H».

Mr. James n. oorrlh, Fortune, was a recent visitor to Soul-ls.

The serious - illness oi Mr. ‘James

Hewlett of Gowan Brae is to regret-

ted.

Rollo Bay West school which has been closed for the part week owing to the illness of the teacher Miss Donahoe, is opened again with a good attendance.

Mr. Howard Wood, Red House, has geturned from a brief visit to Hali- ax.

Mir. Maurice Murphy, Rollo Bay, was _ln Dundns recently on a business trip.

" Mr. John E. Campbell, Bear River was a recent visitor to Souris.

The many friends of Mr. A. Mc- Dougald, 100 Dorchester St., are sorry to hear of his illness. he formally liv- ed at Rollo Bay West, where he wr much ‘esteemed by his friends and

GREAT BRITAIN YLARGEST ' CEWING, GUM MARKET

Speaking before the American chamber of Commerce in London l-ecerltiyotlbert Halsteesi, the" Amer- ican consui-generai, gavc some fig- ures showing the rapidity and vol- ume of‘ trade ' between the United States and Great, Britain. The cham- ber he said had 'a membership of 750 firms and individuals. of whom half were British subjects. .

In spite of all feverish rivalry which was a sympton of healthy trade relations. he said, Anglo-Am- erican trade rested ‘upon a firm bas- ls which nothing could dislodge it.

He added that among the custom- ers of the United States Great Brit- ain ranked first. her purchases amounting to about 173 per cent of out of the total of ‘exports. The Un- ited Statos was Great Britains third best market overseas being surpas- sed only by India and Australia. Cot- ton continued _to lead the imports of Great Britain from the United Stat- es, Jvith tobaccw next, but Great

'Brital.n- was importing

i.

‘l?

.1

.~.

o

lncreas -' quantities of tobacco from Can

wool while their was an imm. I < market for British pottery produl and other specialities in the Uni States.

NATIONAL RAM FIGHTS OF .

Railway workers- of Southern In are giving up their planof match - their Bijnori rams, which they - with them to supply fightingam

the north. They have found while the Bilnori ram is a fast

a quick quitter. He will attack : thing at my time. but if once »

have decided to keep their rants short bouts at home Where they 17st be made useless by victorious s ers. .