T .

Daring Air Carrier Industry Writes New Chapter lntxpanding Traffic

inroads on the profit potential. The bureau of statistics reports that in 1953, operating income dropped to S1.295,600 from 53.- 763.948 in 1952. Net income drop-

Iritlsli Optimism At All-time High

OTTAWA (GP) -Canada's com-

than at any time in Canadian history.

Typical of Canadian Industrial drive. the young air carrier in-' dustry has in a period of five years increased its revenue mile- age by one,-half, doubled the pan- senger traffic and boosted its cargo transport five-fold.

Through its expansion. it has increased employment opportuni- ties for air-minded Canadians, ex- panded the Canadian marke,t for aircraft gasoline and oil. planes

(Dr Harold Morrison. Canadian Prue St!!! Writer)

year by year, the imaginative and daring men who guide Can- ,1da's air carrier industry are writinz new chapters in the saga of expanding and strengthening the commercial air traffic bust- ncss.

They are doing so despite, grow- ing costs that increase the finan- l'i.il burden of operations, reduce the outlook for profits and must. make many operators think twice

uh:-ther future expansion is and plane parts and helped nar- worth the effort. row the big unpopulated area; at 1'ct DFOEFPSS I! being mldt Canada. bringing Canadians clos-

Tiw government estimates that in er to each other and to the resv.

1533: more passengers, goods and of the, world. m'i'i were lranSD0rl9d by air But costs are mounting, makin-I

PRINCE EDWARD ISLAND PDTATD MARKETING DDARD

FINANCIAL STATEMENTS - MAY 31st. 1951 -

Thn Chairman and Members Ili.n.'c Etlwtirrl lslnnil Potato .ll;irketing Board l1i:liitI0lOlH'I. P. I5. i.

Urn! lumen:

In accordance with your instructions. we liaye completed an ex- imtioii of the records of the Prince Edward Island Potato Market- ,-v, ird for the period Scptnmbcr 5th. 1950 to May 31st. 1951, and iii" lune received all the information and explanations which we re- ll'iiii'Ell. Attached hereto are a Balance Sheet as at the latter date, and a Statement of Income and Expenses for the period under re Hr-n. lve wish to comment on the, following items appearing on the llwliiiicc Sheet.

l'npnid Produccrs' Levies, 519,261.33. may be classified as follows:

lnpuiil accounts of dealers who have bee,n paying the levy regularly ........................................................................... .3 2,682.89 l.'np:iid accounts of dealers who are withholding payment presumably awaiting a Supreme Court decision on the

vzilitlity of the, levy ..... .. 7,033.53 I'litt.".lIl arc.-tiiiits of dealers i.inL'cllc(l .. .. . 9,494.91 SIRCI

For purposes of preparing the Balance Sheet. only the account.-7 nf ilcrilers who regularly pay their levies are considered collectible, :.nd a reserve of 516,578.44 is provided for the balance, This amount is Flint) deducted on the Statement of Income and Expenses from the liII.'ll Produccrs' Levy for the period, which amounted to S32.920.70. This levy has been made up from dealers' reports of shipments. and hum freight. boat and truck shipments that can be identified as to Alralcrs on reports received from other sources.

licfcrrrd Charges. 5707.00, arc expenditures to date in connection will the Starch Program under the Agricultural Products Co-opcr- mve, Mnrkctint: Act Thcse expenditures will be recovered by way of "II ndniiiiistration allowance included in the subsidy during the com- ill'.I .VCx'iI'.

Aiivnncc from the Potnin Promotion Committee of the Depart- vp-nt of Agriculture. 55,000.00. is a sum received from that Commit- tee nut of the levy It collected before the Potato Marketing Board u.-ix orgunizccl. As and when the Potato Promotion Committee's pre- '-cni funds are spent on its work. the Potato Marketing Board is to match the expenditures by adding to the reserve of 55.00000, until t'hcrc is a reserve of 525,000.00. Thus the present reserves of the Puizilo Promotion Committee will be replaced by those of the Potato Mzirkctin: Board. when the Committee's funds have been spent on promotional work. As of June 30th. 1951 the Board is to keep these funds in it scparatc bank account.

Surplus. 57,353.50, is the, excess of liicome over Expenses for the pcriorl under review. to be used for the Board's services to the In- rlii-try in the coming year. 3

Subsequent to the foregoing comments we report. in our opin- lun. the foregoing Balance Sheet and accompanying Statement of In- mine and Expenses are properly drawn up so as to exhibit a true and correct view of the state of the Board's affairs as at May 31st. 1951. and of the operating results for the period ended on that date. nu-ortling to the host of our information. the explanations given it; iil. and as shonn by the books of the Board.

H. R. DOANE & CO.

-Chartered Accountants (fliarlottctown. P. E. I. June. 19th, 1951.

llliIN('E EDVVARD ISLAND POTATO MARKETING BOARD BALANCE SHEET

May Slat. 1051

ASSETS Fish in bank . 53.963-55 linpaid Product-rs' Levies 519.951-33 Less: Reserve for uncollectible accounts . .10.578.44 2,682.89 lleferred Charges - Expenditures to date In connection with the Starch Program under the Agricultural Products Co-operative, Mar- g kcling Act 707-0u 812,353.50 LIABILITIES Ilrlvance from the Potato Promotion Committee g of the Department of Agriculture 85.00000 Surplus-Not Income for the period September 5th. 1950 to May 31st. 1951 7.353-50 812,353.50

Certified corrcct. subject to our attached report dated June 19th. 1951. H. R. DOANE & C0. Chartered Accountants.

PRINCE EDWARD ISLAND POTATO MARKETING BOARD STATEMENT OF INCOME AND EXPENSES for the period Beptembe Hus, 1050 to May am. 195! INCOME

Produeers' Levy Less: Provlalon fo

accounts, Sl6,342.M

l)eale'rs' License Fees ................ .. 47500 315.817”!

EXPENSES

Servicea -

Salaries-Chairman 0: Manager 8 2,985.62 Fees .to other Board Members .. 910.00 Travelling Expenses 1,755.15 Telephone and reicsraph 444-37 Publications .. 195-3 Ad,ygf1igln' gg", 140.49 3 5.A33.2I

.1 Administration

f Salaries - Office .......... 3 1.00090 Re'nt .. 290- Office ru 965-6! ' Office Supplies 279.04 Stationery and 109-73 Poaugg ,, ,,,, -, 12004 Insurance 33-90 cumin. 07.02 Light ,, 15.91. Lntoirnc bird gig;

nhll meat. I -.----- Le.&I";:eI' ........-................... 175.00 8.000.! 9,463.76 .. . , ..,.:. ......-.- :--

Not Income for the period -.......-........-...-............... 8 1553-50

ped to 51,120,441 from 51,372&. Higher operating costs were, re- sponsible, the buersu said. COSTS JUMP

- The air carrier's labor force In- creased to 10,703 from 9.398 in 1952 and the bill for salaries and wages jumped to 542,188,464 from

mercial counsellor in London says Britain's optimism about her eco- nomic future has soared to a post- war high.

"Not: since the war has there been such buoyant optimism in the U.K. as there is today,” said R. P. Bower. writing in the trade de-

.4 . Th. ll b'll I - . . creased to Si'5,0I)t0?(i)00nefron-I 312- p"tm?,m" mgilztn" lmrelgn 500.000 and that for oil to 5534, T5?”-

000 from 5490.000. There are many reasons for

this." he said. "First of all there has been no 'economlc crisis” for three years . . . second all food rationing has been eliminated. Third. controls over imports of a wide range of essential raw and intermediate materials have been removed."

. Despite this widening or import

PRINCE EDWARD isuiuu PDTATD MARKETING BOARD

FINANCIAL STATEMENTS - MAY 31st, 1952 -

Charlottetown. June 24th, 1952

Against this background of costs. the commercial aircraft in- creased their revenue mileage '.o 64,000,000 last year from 40,500.- 000 In 1952. boosted the number of passengers carried to about 2.800.000 from about 1,140,000, anil the cargo to 182.700.000 pounds from 38,400.00

P.lS.I.

The CI1Eill'llli:Ill and Ilcinhcrs. Prince Edward Island Potato Marketing Board. Charlottctown. P.E.i.

Gentlemen:

In accordance with your Instructions we have completed ai. examination of the records of the Prince Edward Island Potato Mai- keting Board for the yr-,ar ended May 31st, 1952. Attached hereto are a Balance Sheet as at that date and supplementary schedules.

Producersi levies may be summarized as follows: Unpaid accounts of dealers who are licenced and who

have been paying the levy regularly . 37,768.00

Unpaid accounts of dealers whose licenses have been

rrnzxwcd but who have not been paying regularly ..... .. 6,544.38

Unpaid accounts of dealers whose licenses have been

cancelled or have not been renewed .................................. .. 21,373.86 " s35,6ss.24

For purposes of this Balance, Sheet. only the first amount is

considered collertable, and a reserve of 527,918.24 is provided for the balance. The lcvy has been made up from dealers' reports of ship- ments, and other information available to the Board. It does not in- clude amounts that could be levied on shipments by boats that are known to have left the Province, as the dealers who contributed to these shipments cannot be definitely identified at this stage. The validity of the Act under which the Board operates is now being tested before the courts. and the actual value of the unpaid accounts depends largely on the judgment, which has not been announced at. the time of writing this report.

There is a change in the status of the Advance from the Potato Promotion Committee of the Department of Agriculture since our last report. The, Committee has advanced another 55,000.00. and the Boarii may charge against these amounts promotional expenses which the Committee would ordinarily spend itself. The advances are still sub- jc,ct to repayment, however, if conditions warrant.

The Board administered the Starch Program for assistance to producers in 1051. There is remaining a balance in the bank of 53- 138.33, which represents amounts payable to certain producers under the scheme. but which have been withheld for the present because they still owe the Board on levy account.

Expenses exceeded Income by 31,639.90, which plus of May 31st. 1951 from 37,353.50 to 55,713.60.

Subject to the foregoing comments. we report that, in our op- inion. the attached Balance Sheet and accompanying schedules are properly drawn up so as to exhibit a true and correct view of the state of the Boards affairs as at May 31st, 1952. and of the operating results for the year ended on that date, according to the best of our information. the explanations given to us, and as shown by the books

of the Board. H. R. DOANE & Co.. Chartered Accountanlz.

reduced the Sur-

I'ItiN('E EDWARD ISLAND POTATO MARKETING BOARD BALANCE SHEET

May Slat, 1952

Prince Edward Island

Add: Additional advance .. .. Fe,es from Florida Tests ..-.

the war."

cash in Bank gggg H Assyrs 3 2,710.63 , Chartered Accountants Unpaid Producnr Levies . . 335,686.24 , , , . , Less: Reserve for Uncollectible Accounts -... 27,918.24 7,768.00 ””” " ”"”"" 1iI';?j,'1L(?E0gf11;&T”'0””ET'NG 3””m A 's16':7S'3G May Slat, 1953 . LIABILITIES A -1- Advance from the Potato Promotion Committee SSE S "I the D9P'"""9"i M A8”C"""” 3 4-754-75 Cash on hand and in Bank s1.492.i;s Surplus - Balance. May 31st. 1951 .. . 5 7,353.50 unpnid Licenses 13.77200 Less: Excess of Expenses over Income for the :..L.L Year ....................................................................... .. 1,639.90 5,713.60 515,254.55 T m7 LIABILITIES V 510478.30 Certified correct. subject to our attached report dated June, 2-itli surplu, ., Balancg MM. 31,; 1952 3 5,713.30 952' Add: Excess of Income over Expenses or H- R" DOANE 53 C0-- the year ............................................................... .. 17.31915 Chartered Accountants -.:..L Charlottetown 523,032.55 Mn” 24"” 1952 Levies not reserved for .. ...... 7,768.00 S15.N4.65 PMNCE EDWARD ISLAND POTATO MARKETING 3053" Certified correct, subject to our attached report dated June 1-8- STATEMENT or INCOME AND EXPENSES I953 H R DOANF ,, Co for an ye" ended Ml, 31,5. 195; Chartered Accountant..- INCOME PRINCE EDWARD ISLAND POTATO MARKETING BOARD ”t3S.”.i"i1....”.:.”..”.. iariirssiizsi:.;i3”'"”'” smmm 01' INCOME AND Emma Accounts .............................. L... 11,339.80 39,361.80 go, the you endgd M” 315;, 1953 Dcalers' License Fr-,4-s , 235.00 59,545.50 INCOME. T777” ....LIcenaea uxransas gf,:i,',",l;'”" seSravi:1?i.es-Chairman & Manager 8 4,328.32 5-iffgfigiis 332 2495.; Fees to other Board Members . 220.00 ' Travelling Expenses . 1,370.07 - - Telephone and Telegr p 357.49 P"b""””"5 7 40435 , Salaries -- Chairman and Manager 34,800.00 AdV"”5i"3 170-52 3535i-I-I. Fees to Federation of Agriculture 100.00 T Fees to other Board Members .. 460.00 I Travelling Expenses 1,186.29 Adml"l5i"""”" g Telephone and Telegraph .. 399.89 itiatri" -' Om" - --3 Publications 207.57 9" - I i 375.07 7,529.32 Office Equipment 297.00 Advert 5 ng 3 Office Supplies . 140.& Ad I It ti n Sbatlom-,ry and Printing 39.63 A':1:t'I,::e: 3 55pm P05"8' M -- t 31-9" Cleaning 120.31 I"'"”"" -7 23'9" Commissions to Agents 505.25 Cl""l"3 " 893; Insurance ,. 23.90 U3” 31'” Interest and Bank Charges - 7.09 Interest and Bank Charges 6.5 L9”, Fe" . 2.6953 Unemployment Insurance .......... 38.02 Light 3239 Legal Fees .. . .... 1,264.02 om” Eagpment M. 15000 Audit Fe” 25090 433555 11:39-70 Office. Supplies and Expenses .. .. 284.50 ' Postage . -c 244-51 Excess of Expenses over Income .... ..- 8 1,030.90 Rem mg 530.09 Salaries - Office .. 2410.00 PRINCE EDWARD ISLAND POTATO MARKETING BOARD gumonery Ind prim; 312.23 . ANALYSIS OF ADVANCE FROM Unemployment Insurance g 19.54 7.3155 THE POTATO PROMOTION COMMITTED Li. I" u” ”" "”'”d M” 3"” 1.” Transfer from Potato Promotion Account ...s... 39.08 ' 14,930.45 3"i3""' M” 315" 1951 Excess of Income over Expenses ................. --- 317319.05

DPWI? Sal"-1' Credit Balance. May am, 1952 3 4,754.75 Travelling a Advertislng . Deduct: Salary Florida Tests Expenses Travelling .. 27 , 7" " Advetrising .. MU)-49 4.U3.Bl Blillmti MI? 3133. 1952 Debit Balance. transferred to Statement of Income and Expenses . 3 -NIB

Tueaday. October 20, 1954 The Guardian Page 11

doors. said Mr. Bower. Britain's Britain's import controls. But he gold and dollar reserves "are be- added his belief that Britain may ing built up in I more convincing move slowly in this direction he- fashion than at any time since cause of aevere international com- petition for export markets and a He suggested all this optimism continuing shortage of dollars in may lead to further reductions in some sterling area countries.

NOTICE IS HEREBY GIVEN

That representatives of the Maritime Electric Com- pany Limited will be in the New Glasgow Mills-Line Road area on 27 October ,.for the purpose of completing the final contracts for rural electrification with those residents who have signed the preliminary application for a rural extension in this area.

Advance payment of service line costs will be received by the Company's representatives at the time contracts are signed, an early construction of this extension will be dependent on the completion of such contracts at the earliest possible date.

PUBLIC UTILITIES COMMISSION CHARLOTFETOWN PRINCE EDWARD ISLAND

PRINCE EDWARD ISLAND PDTATD MARKETING BDARD

FINANCIAL STATEMENTS - MAY 31st. 1953 --

Eox 247 Charlottetown. June 18th, 1953

P.E.I.

The Chairman and Members Prince Edward Island Potato Marketing Board Charlottetown. P.E.I.

Gentlemen:

In accordance with your instructions, we have completed an ex- amination of the records of the Prince Edward Island Potato Mar- keting Board for the year ended May 31st. 1953. Attached here,to are a Balance Sheet as at that date and supplementary schedules.

The Statement of Income and Expenses shows a picture of what the operating results for the year would be if all those known to be operating in the potato industry in the Province had paid their fees and were licensed for the year under review: that is to say, there would be a surplus of S1'i'.319.05. Of the S32.249.50 believed to be chargeable under the licensing system, 518,477.50 was received in cash. The, estimated amount still owing. 513,772.00, as shown on the Balance Sheet, is computed from an estimate of the number of producers, deal- ers, truckers and assemblers who operated without licenses. We have no opinion as to how, much of this is collectible it would appear tc depend on the licensing or other method adopted for raising revenue for the Board's work in the, coming year.

As at May 31st. -1952 there, were considerable sums in unpaid levies, which under the Judgment rendered on the validity of the Act under which the Board operates, were declared to be unenforceable, although there was n direction to refund levies that had been col- lected. The amount of unpaid le,vies that was not already provided for by a Reserve for Uncollectible Accounts, which is 37,768.00 as per our last report, was therefore written off against the Surplus ac- count. The, balances payable to certain producers-under the Starch Program. as mentioned in our last report as withheld because the producers owed the Board on levy account. were paid to them during the year.

Expenses directly attributable to sales promotion have again been charged against advances received from the Potato Promotion Committee of the Department of Agriculture, and such expenses have now exceeded the total advances by 539.08. which excess has been in- cluded In the regular expenses for the year. The original advance of 510,000.00 is still subject to repayment. if conditions warrant.

Subject to the foregoing comments. we report that, in our opinion, the attached Balance Sheet and accompanying schedules are properly drawn up so as to exhibit a true and correct view of the Board's affairs as at May 31st, 1953 and of the operating results. for the year ended on that date, according to the, best of our informa- tion, the expianations given us, and as shown by the books of the Board.

H. R. DOANE & Co..

Less: Portion of 1951-52 Uncollectible

PRINCE EDWARD ISLAND POTATO MARKETING BOARD ANALYSIS OF ADVANCE FROM POTATO PROMOTION COM'MI'l'l'EE for the year ended May Slat. IIM

PUBLIC MEETINGS OF PDTATD GRDWERS

At the request of many farmers the undersigned have arranged to hold potato growers' meetings at the various centres listed below:-

October 26th-Tyne Valley and Mt. Stewart October 27th-Wellington and St. Peters October 28th-Hunter River and Vernon River October 29th-Eldon and Elmira

All meetings will begin at 8:00 p.m. Representat- tives of the Potato Marketing Board and Selling Agency will be present to discuss Board policies and answer any questions.

Ira Banks. D. J. MacDonald, Directors Wellington Co-operative, Shirley Sutherland, Reginald Lewis. An- drew Stevenson, Brendon Curran, Joseph Mclsaac, Hector MacLeod, James Halliday, Directors Eastern Farmers Co-operative.

The heater we choose from the beautihi "Series 800" Fawcett lino gives us all the advantages of an automatic heating plant! A flick of the fingertip control dial gives

us sisfe, economical and dependable heat where and when we want it, and the new streamlined mahogany cabinet blends nicely with the rest; of our home furniabingel Fawcett has these heaters available,"

too, in an attractive blonde aniaiu

We also bought: a "Mighty Midget"--one of Fawcei:t's smaller oil heaters-no we could enjoy comfortable extra weekends at our cottage this fall and next spring.

fawcott "Torrid-00' Heaters an available in hva sizes with BTU. ratings from 23,000 to 65,000. Also available in a floor furnace model- .T.U.

For the years ahead

Ranges-Hooters-Pumaeoi for every type of fuel. Muwlaetvnd by!

ENAMEL Ir HEATING PRODUCTS LIMITIU SACKVILLI, N.I.

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MacCAUSLAND FURNITURE '

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161 Great George Street Qarlottalawn