See

the Party which made Canscda Continental, | and supporting them are }.<C rthy, Caron, |

D mvite, Ki-kPatrick—all young men,| active men and very clever men—the rising | hope of the country. Looking over the |

house, one cannot help feeling inspired with | hope fur the future. There are men here

capable of so shaping the political destinies | of our country that the varied, rich and wholesome material and moral elements of wich it is composed will gradually develop w :til it a tains to the strength and vigor of | & great nationality.

Bat the debate has auddenly grown hot. Mr. Langevin has made a motion for re- turn of papers connected with a certain con- tract about which there is a suspicion that all is not right. His remarks have ruffied the temper of the First Minister, who re- torts in a manner not child-like and bland. Tupper replies; and the Goderich Harvor Jov of unaappy notoriety is brought up. Tae pungent Doctor brings the doughty Premier out again; awakens the ponderous Huntington from his slumberous ease; drags tie hitherto silent Blake into the fray. The scene is more exciting than edifying. Pope—not of Princ» Edward Islan 1—Ro-/ chester, Hector Cameron and Dalion Me- Carthy, speak on the Conservative s.de— and altoget.er the matter receives a pretty thorough ventilation--a ventilation not satis: factory to the Premier, who, at about two @ m., gets one of his iollowers to move an eijoarament of the debate.

—_— —--02 @ ©

Ovr most enterprising contemporary, the Patriot, returns, this morning, to the sub- ject of telegrams. He takes to himseli credit for exposing a number of what he cails the delinquencies of Tus EXAMINER ; and to prove that they are so, he appeals to tue public generally. Hus revders, he says, know better. ‘Cuey can detect a siale tele- gram instinctively, and they know that the

enius which gave birth to the unanswered letters of ‘* Viudex” would never stoop to cozen the public in the matter of telegrams. Such is the Patriot's defence, on this por- tion of his weak line. Next, our entepri- sing contemporary asserts that his paper gan ‘‘actual morning paper, and goes to press immediately on the lucking up of the forms.” Most papers do go to press on the locking up of the forms. As a rule, however, in other offices the forms are not allowed to siand and toast before a stove from eight o'clock in the evening till five of the following worning. Unless the Patriot has the idea of assimilating his well-toasted sheet to the hot muffins usualy served at breakfast, we cannot see any ad- vantage in this long toasting. We advise $.ue geuius who presides over the Patriot to adopt the plan of the London 7'imes, and state to a second when his forms were locked up and puton the press, and the exact time when the press ceased its work eid the full issue was given to the world. Te deteriorated credit of the Patriot editor for veracity might require, in order to make hia announcement woithy belief, the addi- t.onal buttress of an athdavit, taken in the manner ; but this migut be kept as su much standing matter.

in conducting our journal, and keeping jt excellently well posted up in the occur- rences which take place from day to day, we yield to no one. We certainly do not eackle over every egg, so loudly as the Pa- t-iot people ; but we can excuse them on tie plea that they are new to the position, and are partially overwhelined with the novelty of their ottice. in one thing, however, our contemporary hasoutrunus. ite hasengaged, we perceive irom his last issue, @ prophet or szer, wii does duty on the local items. We cannot aflord such extravagance. We are content to chronicle evenis which have hap- pened, and leave the engagement of a pcophet until we find areal one and know nia terms. As we are ever anxious to tor- q@ard enterprize, we give our contemporary s Girat essay in prophetic utterances. 1t runs ¢hus :—

“Lpe Northern Light arrived from George- town oif Pictou, between ten and eleven o'clock to-day. We have not heard that she returned.”

The journal in which the above appears was issued on the 6th (this morning), at six o'clock. At that propitious hour the pro-

hetic spirit entered the Patriot office, and its seer beheld the Northern Light steaming qtuiety into Pictou between ten and eleven, noon. ‘That is to say, the Patriot can not only give telegrams 01 events happening in Europe, fifteen hours m advance ot any other journalist, but he can foresee events about to happen on the Island, and announce them six hours in advance. To compete with a preternatural agency of this kind is impossible. ut let us read the above extract from our contemporary as if it were written yester- day, then all becomes plain and natural. The Northern Light did, we believe, arrive in Pictou yesterday at 11 o'clock, and the paragrapluist notes the fact, thus proving that the Patriot is, in the minds of those who write for it, a ‘*late evening © and not an ‘“‘early morning ” paper. The question then to be decided is reduced to this : Is the Patriot telling the truth » hen he calls himself a morning journal—or does he eli.-

ploy a prophet }

The Defence of London.

@2¢-@> «oe @=

With the addition of some huge 38-ton guns, the heaviest artillery at present in the service, to the defences of the Thames, the forts which protect London on the side of the sea may be considered in a satisfactory condition. Werarely, says the Daily News, regard London #8 a fortified city, and yet against the attacks of a hostile squadron it is as well assured as any other port in the world. From Sheerness to Tilbury an ene- my would have to face powerful forts and

-

PT LS

es — one

Bank of Princs Edward Is!and.

Tur annual meeting of the Shareholders |

of this, our oldest Banking institution, was held yesterday, when the Directors submitt- ed the following TWENTY-SECOND ANNUAL REPORT AND STATE- MEN OF THE BANK OF PRINCE ED- WARD ISLAND :

During the year that closed on the Sth of March, instant, the Directors have given their best attention to the interests of this Bank, and are now glad again to appear before the Share holders, and submit a report of its business during that period.

The year now past has been one of consider able commercial embarassment in all parts of the world, and Prince Kdward_ Island has not escaped ffom the depressing influence ; yet the Directors are thankful in being able to report that it has closed with but slight loss to the Institution ; and they believe thatthe state- ment of the accounts which they now submit, will be recezved by the shareholders with sa tisfaction.

lt will beobserved onreferen :etothestatement that the amountof deposit on interest now stands at nearly one-third lees than they did at the same period last year. This has been caused altogether (the amount of private individual de} os t; on interest having increased) by the Withdrawal, during the year, of monies placed by the Government at interest in the Bank awaitingthe payment to proprietorsof land, under ‘* The Land Purchase Act, 1375,” of awards nade in their favor; and much of the above amount has been since withdrawa by the propri

;etors, after receiving their orders for payment,

and remitted to England. This has caused, throughout the year, an exceptional demand for Eagiish Exchange, which it has, in the dull state of trade and depression of the shipping interests, been, at times, a diilticult matter to provide, and by which our balances, uader that hea!, have been much diminished. This exceptioual demaad is now, however, nearly concluded ; and the Directors trust that, when the navigation opens and the prodace of the Vountry can go torward to mar .et, monetary matters will become easier, in this and other respects. In fact the item under the head of ‘Cash accounts” ($174,000) represents, to a very large extent, advances for purchase of cargoes awaiting shipment, which will shortly, after the opening of the navigation, be produc. vive of Excuauge remittances.

Since the last annual meeting, two divi dends, each of 5 per cent, amounting togeth- er to $12,000, have been paid on the capital stuck of the Bank.

Atthe last aunual meeting (1877) the ba. lance of net profits then on hand (33,773.03) was carried forward to the credit of this year.

After providing for the two dividends just veferred to that balance hag since been in- creased, and now amounts to $47,011.72, after providing for bad debts—mostiy of ancient rigin—tv the amount of $907.67.

ihe Directors are satisfied that the stability a Bank, the certainty of payment to its shareholders of regular dividends, and the mainteuance of public confidence in it as an institution cannot be more effectually secured

sutticieut rest or balance in hand to its credit a3 a safeguard against possible eventualities. ney, therefore, believing the preseut amount —$4/,011.72—by no meaus inadequately large fur the purpose, recommend that the whole of it shali be carried forward to tue credit of the ensuing year. Joseru Henstey, President. Ricuaryp Hearrz, JAMES PEAKE, W. W, Lorp, Joun LONGWORTH. Ch’town, 5th March, 1378.

STATEMENT.

—-

LIABILITIES. Capital Stock..........-..++++- $120,000 09

Bank Notes in Circulation ...... 99.097 48 Amounts due to other Banks.... 49, 7u9 19 Veposits not bearing

Se. oc eaaa $120,837 73 Deposits on Interest... 217,055 55 Dividends unpaid. ... 5:0 00 338,476 28 Net Profits on hand............ 47,011 72

$654,894 67 |ASSETS. Specie and Dominion (legal tender)

TE on sittia sn aniv avis Manito a $ 36,704 46 Dne by other Banks..........--- 33,684 44 Notes and Chequesof other Banks 6,444 29 BE NTT IIE, oo Foc cep cessess 323,4U6 35 ET IIA g 5 ce vase e cecevsns 173,978 25

Judgments in Supreme Court, and

Mortgages .........seceseeeees 60,803 66 ee PP 14,873 22 $654,894 67 PROFIT AND LOSS. DR.

To Dividend, June, 1877.........- $ 6,000 00 “ do. December, 1377.... 6,000 Ov “< Interest on Deposits.........- 12,365 54 ‘© Losses written off ........... 907 67 ** New Issue, Lank

Mite ei ii Fi ckies $1,211 72 ‘© Incidental Expenses 9,752 55 10,994 27 ‘¢ Balance Net Profits on hand.. 47,011 72

$83,279 20

CR. By Balance on hand, 6th March, een Re es <4 £33,773 03 ** Giozs Profits for the year ...... 49,596 17

$83,279 20 J. R. Brecxen, Cashier.

From this statement it will be seen that the nett profits of the year amount to $25,- 233,69, being a little over 21 per cent. of the capital stock, while after the payment of two half-yeaily dividends of 5 per cent. each the amo mt of rest now held by the Bank is $47011.72 or over 39 per cent. of the Capital Stock. This very satisfactory exhibit can be attributed only to the watch- ful care and activity of the Directors and Officers of the Bank.

After the reading of the Report the follow-

batteries, and it would be only in the event ing Resolutions were then unanimously

of his running the gauntlet of f¥ese big guns | that he would have any chance whatever

agreed to :-—

‘That the Report now read be adopted and

of reaching the ‘Government tacturies at | printed for the information of the Stockholders.

riches the world has heard vaunted so much and so often. |

Assembly rooms pre being renovated |

Wooivwich, or those docks whose overtiowing |

——

That the thanks of this meeting Le given to ; trusting that Mr. fietcher will p

the Directors for their very satisfactory man- agement of the affairs of the Bauk for tue pest year and that the sum of Two Thousand Dol.

be paid to dhe President and Directors for

shan by the creation and maintenance of a

ated.

| their services, to be divided as may be ordered

, by the Directors. The meeting then proceeded to ballot for

Directors for the ensuing year, when the fol- lowing gentlemen were re elected:— —

Hon. Joseph Hensley, Hon. D. Davies, Hon. T. H. Havilaad, Hon J. Longworth, Hon. W. W. Lord, R. Heartz, Esq., and James Peake, Esq.

Our Navy.

The Canadian navy is probably the most costly in the world. The following 1s the cost of maintenance since 1874 :—

1874. 1875. Napoleon IIL, $27,281 $10,572 Druid, 22,118 ‘15,856 Lady Head 30,003 22,992 Sir Jas. Douglass, 10,555 41,796 389,9962 $90,216

1576. 1877, Napoleon IIL, $40,505 $19, 584 Drui'’, 15,198 20,€8)

Lady Liead, 22,312 AN el. Sir Jas, Douglass, 19, 156 16,095 $97,076 $56,664

{ . This is the total fleet, our ancient wooden

walls. This total cost in four years of $333,700 is further swollen by the general account for mainteuance, as follows :

1874 $12,028 1875 4,527 1876 7,362 1837 9,418 £33,335

| So that in fact it has cost us $357,000 to keep these four boats going during the past four years. Then two new vessels were purchased in 1876, viz., the ‘Glendon,’ for $20,000, and the ‘* Newfield” for $65,000. In 1877 the maintenance of these vessels cost $11,683 and $27,150, respectively.

——— LP Qn

New Trade with Venezuela.

The steamer Hadji, Harris, master, will sail to-day for Port Cabello, Venezuela. She is one of the pioneers of a new line projected by the Quebec and Gulf Ports Navigation Company of Canada, to open up a regular trade between New York and the northeastern states of South America. Steamers are to be despatched from the ter- minal points every three weeks, to call ai San Juan and St. Thomas. The State oi Venezuela grants the line a small subsidy for carrying the mails. The Bermuda, Wilson, master, the second ship, will sail in three weeks. The Hadji goes out deepl) freighted with provisions and goods o: American manutacture, and the return freights so far brought, consisting of hides, coffee and cocoa, have been as large as the steamers could accommodate. The vessels are first-class English iron steamers, swift and staunch. They will be furnished with passenger accommodation as soon as that trattic warrants the change.—New York World.

Correspondence.

a We do not hola ourselves responsibl. for the opinions cr statements of Corres- pondents.

Enterprising—Very !

To the Editor of the Examiner :

Dear Sirr,—The enterprise displayed in the getting up and production of tue following sentence which appears, verbatim et literatim, under the heading of ‘‘ Editorial Items” in, yesterday’s Argus, must commend itself tu every un-biassed mind,

** We have heard it said that there was a skat- ing Carnival held in the Citizens’ Skating Rink on Thursday night last.”

What an agony of doubt must have been re- moved from the minds of the Argus readers by that simply announcement. Ar, #ietcher can still hear ! Thank heaven for that! lt is a mat- ter of far minor importance that his visual or- gans are not what they should be, as it is wel; known that such a defect, in Mr. Fletcher's case, can at any time be easily remedied by an application of ‘‘Free Tickets.” Had Mr. Fletcher been presented with complimentary tickets tu the Carnival it would be amusing to note the alacrity with which he wouid have ‘‘seen”’ it.

But seriously, Mr, Editor, it has long been a crying evil in this town that, acting upun the principle that ‘‘one should not lovk a gift horse in the mouth,” all that an agent or man- ager of any performance has to iv, in order to enlist the sympathies of any paper towards his entertainment, is to present the editor with a 1ew passes, and the paper is at his service. He can then a: for nothing, to any extent, and at the close of his performance (no matter how wretched that performance may be) is treated toa lengthy laudatory article as a sort of **God-speed,” by which he is enabled the , better to prey upon the uext audience he mects. _ Why should this be? 1 is certainly lower- ing in the fourth Estate to truckle in this way fur the sake of a tew tree passes. If an editor wauts to see a performance why should he not p-y tor his ticket like any other man? Then, and not until then, may we look for anything like a fair and impartial criticism of a public performance, as the consciousness of having paid for his tickets imparts a feeling of inde

ndence which never can obtain under the system of passes, and the editor can write of the performance just as it ‘‘strikes” him, ; while, laboring under the burden of a free ipass, he becomes blind to the imperfections, an must write pretty much as it *‘strikes”— the manager. 1 trust that with the advent of our dailies a new order of things has becn in- augurated, and that now free tickets will be dropped, as if an editor is not presented with a ticket, in order to keep up with the times, he will have to purchase one, and give his readers the result of mis observations,

‘* We have heard it said” that the Argus is to be issued as a semi-weekly. If this be true the manager will have to expend a little more en- ergy uf not money) than he has heretofore done to make his paper a ‘“‘newspaper,’ and

Sion me for this ‘‘random sling at a giant wrong,”

SPRING OODS

Ex §. §, Northern Light,

-AT THE-

London House

W Lt

SHOWN ON MONDAY, the 4th March,

200 PATTERNS

BE

CAMADIAN TWEED,

West of England and Scotch Makes.

-~ALSO--

BLACK & BLUE | BROADCLOTHS,

Worsted & Fancy

COATINGS!

,0:

SINGLE GARMENTS and SUITS made upin the best styles and at the shortest notice.

UR

O TAILORING }=— DEPARTMENT

A GREAT SUCCESS.

A SPLENDID ASSORTMENT

Men's and Boys’ Hats,

We offer Spscrat InpuceMENTs in House Furnishing Goods—

DAMASKS, : REPPS, CRETONNES, MOREENS, ETC. SHEETINCS,

PILLOW COTTON, WINDOW HOLLAND, White & Grey CALICO, ETE. CARPETINGS, HEARTH RUGS, MATTS & MATTING, FLOOR OIL CLOTH, ETC.

4 CHOICE ASSORTMENT OF

Paper Hangings |

1 am, Sir, yours truly, “Eytry Novus.” Marck 5, 3878,

GEO. DAVIES & CO.

March 2~ jan Paw

New Advertisements, —

np ——a me

GRAND: CLEARING OUT SALE.

——-:0:—-—

DRY GOODS, Clothing, Groceries, Hardware,

BTC.

J AM instructed to sell at AUCTION the Store, corner of Great G “oe Grafton Streets, on , tr

Wednesday, 20th inst,,

AT ll o’ctock,

THE ENTIRE

STOCK IN TRADE

Of the late Hon. Patrick Walker,

Consisting in part of — White, Gre Printed Cottons ; Sueetings, Shirtings, — Table Damask, Towellings, Black and Blue Cloths; Beaver, Pilot, Ttantle and Broad Cloths ; Tweeds, worsted Coatings, Woollen Underelothing, Reefing Jackets, Overcoats, Business and Walking Coats, Pants and Vests: Dress Material, in Coburgs, Serges, Winceys, Lustres, French Merinos, Barratheas, &c. ; Grey, White, Scarlet, Striped and Checked Flannels ; Woollen Shawls, Sontags, Jackets, Hoisery ; Felt, Soft and Shell Hats; Men’s and Boys’ Cloth Caps, Boots and Shoes ; Blan. kets and Counterpanes, Braids, Fringes, Trim. mings, Silks and Velvets, Ribbons, Flowers Feathers ; full stock of Small Wares, Hard ware, Glass, Groceries, Dye Stuffs, Chests Tea, Shop and Office Furniture, Stoves, } Sewing Machine, 1 Fire-proof Safe (Kershaw & Edward’s), etc., etc.

The above goods are all in good order, and of recent importation.

a Full particulars on handbills.

Terms— Under $50, cash ; from $50 to $150, three months ; from $150 to $300, four months; and over $300, six months’ credit on approved joint notes.

Sale positive ; no reserve.

WM. DODD, Aucti March @55ki D, Auctioneer.

To Michael McCormack, Esq., High Sheriff of King’s County.

Sir, —As efvorts are made in certain quarters to decry the 8. 8. Northern Light and remove ber from her present route, we request that you wiil please call a County Meeting as soon a8 possible, to consider the situation, —afford- ing the people of King’s County an opportu- nity to discuss their interests in ghis matter. John M. Stewart, G. A. Aitken,

RK. Munro, - J. H. Rutherford, Charles R. Aiiken, Michael Hession, agg Owen, W. Wightman

ym. Clements, Jos. R. M : Arch’d J. Macdonald, James aes Adam Wight, David Keye,

D. Gordon, Ewen Stewart.

Georgetown, 2nd March, 1878.

To John M. Stewart, G. A. Aitken, Roderick Munro, Esquires, and others,

GENTLEMEN,-—In compliance with th requisition, 1 do “ne give notion ‘Sheaben PUBLIC MENTING will be held in the Supreme Court House, Georgetown, on THURSDAY next, the Seventh March. at two o'clock in the afternoon. MICHAEL McCORMACK, eee Sheri Sheriff's Office, King’s County, oT March 2nd, 1878. 2i dy pat BUTTER! BUTTER! A FEW Tubs good Home.Made BUTTER —not fmported,--made by some of our best Butter-malers—can be had on application to JAMES BARRE? i,

: Dorchester St Ch’town, Mar. 1, 187848 chester Street.

Anniversary Service,

TS ANNUAL MEETING of the P. E. Island Auxiliary Bible Society will be held (D. V.) in the Hall of the Y. M. ©. A. Charlottetown, on MONDAY, the 11th inst. Besides the usual programme, some choice pieces will be sung at intervals during the eve- ning. Chair taken at 8 o'clock, p. m.

DONALD McNEILL, Secretary.

March 4, 1879—t meeting.

Tenders for Poor House,

TS DERS, marked ‘‘ Tenders for Poor House,” will be received at the Poor House, = SATURDAY, 9th March, from persons willing to furnis} ing

at g urnish the following sup-

FISH,

KEROSENE OIL,

SOAP,

HOMESPUN CLOTH,

UNBLE ACHED Cortos 4 LAU 2 Cc

WHITE i

WINCEY,

SHIRTS and DRAWERS HATS and CAPS,

Also for performing the following services : TAILOR’S WORK, SHOEMAKER’s « UNDERTAKER’S «

All necessary informati

er a from ge elgg er

e¢ Commissioners do not: bind

to accept the lowest or saly’ Vetidide, Peer

GEORGE W. HODGSON,

Chitown, Feb, 25=-dy pon few wll Pi