“J%DA . - eﬂE CHARLUTllluW

HIE CPIIWIIIBIAI. BMIK 0F GAMM

12nd ANNUAL GENERAL MEETING OF THE SHAREHOLDERS

‘Analysis of the Statement by the General Manager, Mr. J. U. Boyer

President's Address

KNOWTI-IERIGHT 0000s ~' EAT ms RIGHT Fooos

In Memoriam

Therein.‘ :20: fully into on peace olsrnal rest at tho Prince County Hos tal, Blmmsrside on January $1031‘ “Ailing ﬁmsanwdil’? ance p e n the fifty-eighth. year o! her age. The late Mrs. Haslam took sud- denly ill a week previous and was than to the hospital. Hero dos its best emdlcal attention and b g silo passed a in

sis novnvcrsr. nuromoiv oom- mrrll associated with the Department

care way early morning on the above date, end her sudden death casts a gloom mingﬁq with ‘clilenep sorrow over the on o

comm WI- "lmwele "ma"! ofPeblielealthtllebepar-tmsntofsgri. of th if rt d ms changes in me boundless hospitality transparent “ a” $f,'?"Z'?"-r-T.'°"§O.m¢nl I moment?‘ cuuditnrcms in our ooun- goodness. great cour ' with on e- “Inn's m». t.‘ 079-0 ‘m , we‘ cum“ "g held at the , try.’ rliuh wages andnstetigadly egli- ldlng faith and s genial and loving r, c~>m"r".2":c" “Wm” slr.uz*:r..taltzz..zst.v..."'..i .. .:.':..".-...°':;..u:.n "WWW "WI 01-0-1-

dt 3. “ﬂfﬁxldﬁrlit, Mr. chs. A. Rm. was in e c a .

The report of the Board of Dir- ectors was read and ihe financial “mun; 1°1- gm year ending Ember 30th, was placed before e

meetins.

poyer. made the f0 _ “m; qr; the Financial statement. 1n his analysis of tho Statement, g Mumger dealt with

e main points as follows: The statement presented to you godey, shows substantial ‘changes u conspired with the statement

l - The intensi- fitedthrn iﬁélaalluaiiedarcomrnercisl ac- uvuy resulting from the demands

wu, l1 h agricultural produc- and increased earnings of the working class have adde to the volume of banking businws. Total assets have reached $72.- seems, an increase eifunearlv all): lest oar. Cash ms no - o“ {is and not! o! l 35113

dopcl a dsnods, amount to 421.40!- iinsnt security holdings etsnd as “(L088 . Federal and Pro- vinc l Government securities ma-

mriga within two years inimitable 5n mgxoriolprrgesen an in- I I '

Government seem-it maturity betel $11,812,591, or $4.- 810?! in encess of tho ommmt held lest year. Canadian municipll and other bonds. debentures and shares st 011375.054. show s do- eronfafo of Oldﬁud. h ans on ca sgahot bonds bontvsres and lures s8 83.75.70! in spprochntely the same as

other readily realizable assets amount to $53.-

MOMII, which is equivalent to 70% | o! tho total liabilities to thsngublio. During . the deral

Govt-mom to a now method d ﬁnancing, that is by woy o! issue of short term certifi- of dgloslt bearing interest at 8-4 of 1% per annum. _

oaerctal activity has not contri- buted to on ion of current loans, although e

loans of 16,l39,-i 340, which include borrow g6” ol- Municipalities and School m- missions, mow little variation with the corresponding figures of the year 1M1.

Deposits increased substantially durin tho oar, ris' from $53.-' in», l!) Ml. lo .420.580

socounz amount 9 9401.794 sel

Hsgsinstslﬂllﬁﬂ in 104i. Out of'

those its. Drovision has been mado Dominion Government . hill in the sun of $106,781. leav- ing a bolonoo of sraimz. mm tna‘ amount. 060.000 has been used as s writs off walnut reol estate and 0280.000 was paid to tho sharehold- I1 in dividench. As the demand for war su pliesi ooniinues to grow, he neceselty of ansfomiing tho union's business, a basis keep; pace i Ono o mm important c anger afar of lwbour from essential ndustries to tim arm-

ed will tiho war have reduced ooneideretbiy, the hlned personnel o! tho bash. overcoma this situation the have been com- pelled to engage inexperienced fe- male help. It is es imated that 54% of total bank employees now consists of female help.

Roch additional work as: boon

=5 is i’ 3

oeivhc of s-ubscri ions to Victor Loans and the elivery of bondi to tho purchasers, the sale or War Savings Certificates and the encsshment of Government oou one and cheques, the number of w ich

. Notwithstanding the long

hours of work involved, these rlii‘ m

htavfe been cheerfully borne by the l .

a In conformity with an under- standing come to between the

number of branches, we have closed 6 offices. In closing it is with phmsum that I express my thanks to the members the Board of Directors for their continued kind co-opcrs- tioﬂ. Ind to the officers and em- ployees of the Bank. m? apprecia- ion of their willing sf orts in the vrmanoe of their duties dur- a very trying year. ore moving the adoption of the Annu rt, the President. Mr. Chs. A, . addressed the Shﬂholdon ss ollows:

minus of the working classes, an mmlupnr-re of prosperity was created which, i! not sound has nevertheless benefited many es of huslnem.

H/siaii trade held well above last year's lv-wnl, although onerous taxa- tic-r! 2 rcduccd the purchssinr povwf or the mlddl! class an wealthy taxpayers. who have been hard hit: increased consumers de- mand. however. on the cart of the wage earners, whose needs were great. account much for the activ-

Fortunately. most-provinces have enjoyed botuitlfill cross. Because of the sharply risin omestic and carport demand for hose products at a higher scale of prices than in 194i. the average farmer's income has far exceeded than of recent years.

In iho financilai ftrrsliirlrpoininlion financing occuped 118 P869 in the 1942 bond market. The cheap monemolicy inaugurated a few years k. as a means ot financing the war, will maintain-

. Prices for high grade bonds held steady and short-term scour- ities remained at a yield lower than the rate psid by banks to their depositors.

wartime measures are, however, dominating economic conditions, and the present course is now principally devoted to the pur- pose of increasing production of the implements of war and the training of man wer. Produc- tion in shj -blrild and aircraft was partlcu arly outstanding.

The ever increasing demand for war material and civilian goods has created problems of raw mat- erials and labour. In an endeavour to solve these problems, the Gov- ernment has aPDlied regulations enforcing a. strict control of nearly all raw materials as well as s our- tsiimeat of production for civilian requirements. A corrective labour agency in the form of the National selective Service Bureau has also been created.

The material required to keep untion at a ‘peek ln war plants caused rat oning of material

for other industries. Because of rationing the manufgcturo of certain classes of goods had to be reduced, thereby adding to the climb of operating costs.

Plant replacements and even repairs, except for those industries engage-l on war contracts, have not always been possible, and there has been s consequent slackening off in efficiency. Inexperienced and unimined hglp has slowed produc- tion ancl increased costs sha ly in nearly all industries. gh wag“, and salaries aid by war in- dustries make it d fficult for oth- er industries and business to carry on. as the seilin prices of their goods or services ave been frozen at the 194i level.

The control of prices by the Wartime Prices and Trade Board entails numerous regulations com- plicated in character. difficult to nterprst and even more perplex- ing to apply fairly.

Price con rol mes es once en- bored upon cam-pt be ii htlv can. Bldefei- Th9 901M’ of su idles re- sorted to by the Government for the purpose of exercising con- trol of certain consumer goods. is adding rapidly to the public debt and may an extent, defeat the

"moss for which the Wartime

i086 and 'I‘rsde Board was or- gdnizcd.

A huge public debt has always painful consequences on each eiti. pen c! the nation. The greater tho debt, the greater will be the de_ sroe of Gowrnrnexit control over the rights and liberties of the b00019. Thni trend has been evid- ent since the 1914-18 War. War is destructive. not only m lifo, and nrullﬂly. but also to the economic system of the noun . A roalim- would

on of that fact on t. m or m go far toward miﬁgatirlg in eventual effects. ‘

While our course is to direct all our risources t0 the task 0r win- ning the war within the least pos- sible delay. it should be done wit the minimum of dislocation w our economic system.

Those of us who remain at homo should attend w our duties with the utmost devotion, nd discip- line ourselves to do wt}; 1e” go that the armed forces may have more.

Tkxiuy. the subject of thrift, h more 1m limit than ever before. It shoui: be racticcd by the in. rllvidml us wel as by governments. ilerctofcsre, thrift, on me pa“ of the individual has been a matter of choice: now. it is a public duty.

The large number of subscribers in the Victory Loans 5nd m, Walls; purchasers of War Savings (mr ..1/-e.es is gratifying, and m- riicalr- that the problems created by the wnr arc now better understood and that the habit of thrift has bclcigrﬁe ‘march genlfé-al.

0W n! e a res-see President and General Mbysnagemr: the 42nd annual report or he Board of Commissioner-censors was presented by its President, l-lon. n. Lhflzlfcnﬁuded P10, K.C.

l‘ t e a opton of the reports of the Board of Directors and of the Board of Commissioner-Cen-

main some of nu address

Manner has von you s comprehensive enplsngtion gs the statements before you, and hope that you will consider the poaiton of ths Bank and the re- sults of the or as satisfactory. Your Board Directors and my- soii’ are satisfied. e growth in the total figures on each side of the balance sheet is the outstanding feature. The degosits have gone up 012,200,000 wi a eorrespondin increase in assets. It is pa lcularly grati- inhto note that in spite of suh- al subscriptions to Victory Loans, there has been an increase 1i! lﬂiﬂﬂ dmosits during th-

year.

Hsvinlgr reﬁsrd to the additional Droess ofi Tax, nl provided for in the i042 Amendment w that Act. it was felt advisable to reduce tahxe rate of dividend. Income and

than 70% of their avers taxable profit for tnuu-rgefm 1930. As expoe yosr 1M:

sors the foiiowins Directors were elected:

Mir. L, J. Qxiere. Bhsnbvorne Que. Hon. Senator Louis Cots: K-C. Ottawa, 0nt., Mr. C. G. de- Tonnahcour. Moxitreztl, Que" Hon, R. , Grothe, M.L.C., Montreal, Que, Messrs. Alfred Lambert, Mon- "H11. QM» Alfred Merois. Que- bec. Que. Jean Rolland. Montreal, 828.. Chs. A. Roy. Montreal, Qua,

(use A. Savoy. 5t. Johns. Que.

The following Wore elected mem- bers oi the Board of Commissioner- Censors: ltfessrs. c, L, c;rg1ey_ Montreal. Que, Nareisse Dunn- rsme. Montreal. Que. l-lon. 5am. tor Antoine J. Leger, K. 0., Mom. ton, N.B., Mr. Victor Morin. NJ’. Montreal. Que. Hon. E. L. Paten- aude. P.c., KC, Montreal. Que, Mr. l... E. Langis Galipeeuit, LL.L., 13.50.. Quebec, Que,

Al. a s Isl meeting of the Board of irectors held immediate. lv after the General Meeting of Qhareholders, Mr. Chs. A. Rov was re-elected President and Messrs. Jean Roliarvl and Geo. A. Savoy were elected Vic-Presidents.

At 0 meetin nf the Board of Commissioner- ensors held sim-

hweltumm a u. lntsnsfied war u;

teneously Hon. I. L. Psisaeude,

overseas, and Aeneas. brakeman

Simpson, sub-deacon: Rov. Phollfi McKenna Master of C ‘ the Sanctuary presiding“ were His ailcellﬁlncy BﬁhophyﬁS v. sgr. urp - Stan's University, Father MacKennie,

choir was Rev. Bernard A. Gill .

1.. s. marital‘: oemlsulil‘.

L]. is G-aipeau advocate. senior pa er of Gall suit and Galipeault, Quebec eloo ed to the Board of (yosnmiu or-Consors of The Provincial Bank of Canada at the 43nd annual meeting of the Shsreholdoll.

In Memoriam no. mil-isomer.»

The death occurred. at the Char- lottetown Hospital on December 19th, i942, of Mr. JMIIBIB. Mac- Donald, J. P., B: M. L. A, one of the moot prominent and hishlv es- tsemod residents of 8t. Peter's Bl! at the advanced ago of h) years his birthday having been celebrated on December 6th, 042.

Coming at the h ppy wlristmns season. his death cast a deep shad- ow over the home and. community. as he was deep revered and his advice and. good udgment made him a wise counsellor agdd frigncii; sought out. by young o ha py time; as well as when trouble

vis ted them

Mr. MacDonald was bom on the old homestead at West St Peters in i802 and spent all his useful life in his father's home. He carried on a successful farming and ﬂs busi- ness practically all his li e and

member of the Legislative Assembly

in church, civic and political aﬂairl-

Wakerville, Montana. Two sons also mourn the loss of a loving father.

on the C. N. R. His wife nee Lilclnda

ivsn, lit. of 5t Dun-

Father McPherson; assisting the s

The services at t-he grave were con- ducted by Rev. Father Simpson and the pail bearers re: Hon. J P. McIntyre. Dr. _ nard Farmer. Messrs. ylLieliy MacEWgiﬂ. 1740591107! MimAdaxn; ' Willlsln Maﬂdillsn, Lloyd MacEwen. M1‘. Frank Hen- nessey was funeral director. The sympathy of many friends is extended.

Following are the Mass Cards, etc, received by the bereaved family.

MASS CARI)! Rev. P. F‘. MacDonald Rev. R. sl MacDonald

Bl5‘..:.rs of Notre Dame Acsde . Charlottetown

St. Vincent De Paul Society

Children of Bt. Lawrence School

Teacher and children of 6t. Pct- ar's Lake School l

llPltimls Family

e non Mr. and Mrs. James P, Maoist-ire Mr. and Mrs. Donald .5. Mac-

Donald Mr. and Mrs. Peter O. MacDonald J. Aeneas and Katie MacDonald Mr. and Mrs. Michael Maclntyre Nellie MacDonald Mr and. Mrs. Aemas MacDonald

s Psmil mMr. andlvlrs It. I. MacDonald mums or sums-rs!

Rev. R. F. MacDonald

Rev. P. l". MacDonald

Charles H. Black

P. W. Turner

l). B. MacDonald

H, F. MacPhee

Mr. and Mrs. Brendon Driscoll Mclssac Fsmil

glnoo has rosided in Bprin field, with

ﬁl& I". Springfield, Rey ond

mineter, B. C. Golden, B. C.; Fred, New Jersey, Frank, New Jer- sey: Theophilus, Norridge, Wacln,

of B. C. predeceased her several years ago.

very large and sympathetic oon-

residenoe to pay their tribute of re- camgsm ﬁnal?! ‘m’: 9'13 §§§§§;,“§;f spect and witness the last sad rites, °Y°° W ° ° Service was conducted by the fol-

teem" H‘ w“ 615m yea“ a loyal lowing clergyman. Rev Mr. New-

of Prinoo Edward. Island and until m"!- Vw Archdeacon Harrison.

w t Rev. Mr. Morrison and Rev. Dr. death cams took an active in res Ayend ‘with long fgiend oihtgcidb H u, 1 ed b bmmer; m cease o spo e rom P lipans g 1.2m. sﬁfiy o 01x0? the Rev. 1.21 and brought a comforting and Father Peter MacDonald, P. P. impressive message to all.

in 5t. Elizabeth Church cemetery, Rev. Path" K681110111. ChBDII-ili Rev. m. Newman officiated st the

grave. The pal! bear Dr. l. D. MiwDoliﬂld predeceased him *1 useousgan. onghaoiggwn, Messrs. ygatrlmsig a slag!‘ Lillian .- mﬁ- Walter MaoKenzle. Ivor-ms Sinclair. B m9“ s33“ ' Everett Haslam, Wm. Haslam, J. . ueiiu*z.ir"l.l.".l".li.'af.": my Helm» r “iggllbg gfsltfjpndﬁflgh"m°mh o, ings bore silent testimony u, w ch he was a devoted member. thence to the St. Andrews Cemetery Solemn High Mass was celebrated by Rev. Terrence Campbtll, Rev. Father

entire community goes out to the sorrowing family, but the Hand McCardle, deacon; Rev. Father 211g ﬁgill-ziiflnihlgnalsg‘ alagzktohsﬁltag; 1n loneliness andjrlef,

men's Auxiliary of 8t. Elizabeths Church and a regular attendant at Divine Worship. Every movement for the social advancement of the community received he; loyal sup- port. In the work of the Women's Institute she was e tower of strength and her untiring interest will long b‘: remembered by her fellow mem-

rs.

lha was a daughter 0i’ the .lato Mr. And Mrs. Theophilul Abbott F‘ ‘ wn Road where sho attend- ed the local district school and was held in high esteem by her school friends who will regret her passing. On March 10. i908 she was united in marriage with H. B. Haslsm and

the exception of three wnters she and Mr. Haslam spent in Mac- Masterville the guests of their son and his wife ﬁr. Lewis und Mrs. Haslsrn. V She leaves to cherish her memory beside; her sorrowing husband four sons l). Lewis, MscMastervllle, Quebec; Irving. S. Springfield, r- acMssterville, also the following brothers and sisters: Julia, Mrs

Fred Dollar. Brookfield, P. m r 5 Esther. Mrs. Pound. New West-

Maine. One brother Samuelof Corn- wall and s sister Alice. Mrs. Rendle

0n Wednesday January sixlh s gregstlon assembled st her late

Interment" was in the family plot

Many and beautiful ﬂoral offer- me

y of a loved one gone. The heartfelt sympathy of the

Telephone No. 49 Private Branch Exchange

Just Call No, 49 and ask the oﬂlce operator for the depart- ment you want.

Hp 6.30 P. M-

Tuns in for this informs. tive programme. Proper Nutrition is Health Am. munitiou. Io make every kitchen

WOQK FOR VICTORY]

Moore s. Mtleoonlsi

119-121 Queen Street, Charlottetown

with something worth while. There _ '. ‘ mus. about the cover-up :dea. importance this winter. Women feel. it's the trend to avoid extremes in

AMAZON’! I100!) The Amazon‘ river empties into‘

GLITTER FROCKS

uppafently, that. it they must cover shoudlers and necks it should be

TILLIE THE TOILER ADVICE WANTEIJ- AND f‘

in the Atantic at the rats gallons a second.

allty and for that matter,

-.__t ._. E ,gOOt<iE, MAYBE]. SHouLDAsK

= ._ ___ __..A

m,- 00. x...‘ n“... s,...v...», 1-... wean,"-

WHERE T0?

O'Connor Pam _w H086 -

, csrfrnsvnass scnoor.

Report for November. I Grade 1-1. Elinor Hervsy- 2. Bertha Norrlng; I. ﬂoanor but-

c e.

Grade VIII-l. Gloria Bell: I. Insulator Lord and Pearle Oameroral 6Q“ .

Grade VII-l. Glenda Weddell, Gladys Norring equal; l. Betty Co-mpbell- I. Jackie Campbell.

Grade in —~i Henderson Garvey Warren lord equal; I. lsonar Hynes; l. Byron Cutoliffo.

Perfect attendance: Glenda Wad- doli, minor Harvey, Pearle Osm- eron, Jackie Campbell.

Grade V-1. Sonia Arnfastv l. Pauline Irving; a Jessie Gardiner.

Grade IV-l. Gordon Norring; 2. Marie Hynes‘ 3. Roger Wsddsli.

Grade Il-l. Roger Kaye; 2. Beatrice Cutuiiffe; 8. Sheldon Gardiner.

Grade Il-l. Juanita Cesnﬁboll; I Carl Dickie. l. Ilila Campbe .

Grads I Senior. 1. June Gardiner. l. Lois Cutcliffe; l. Ian Mutton.

Grade l’ Junior-l. Janice Wad- dell; 2. Rowena HUVGYLI. Ber- bara Irving.

Perfect stendsnce: Jllnita Camp- bell. Janice Weddell.

‘Iisachers: Mrs. Dori; MacWil- llama, Mary M, Mutts-rt.

5&3‘ §e°"6'.‘.l1'°i.°‘°8"i.5'°“vsi-°'“‘ President,‘ a '

UUT OUR WAY

an. z oowr KNOW HOW ‘l KIN FACE sucu A DARK rmuRaz - WHEN I'M ABOUT 4o. THAT FAR “some LITTLE mo sAvlN; AHEAD wuuT, vou WASNW’ m TO FIND TH -WAR’.' wHV. Mv 62mm». mo MA WAS."'--OHOOH!

R. WILLIAMS

our BOMPWNG HUUQE.

UN FORTUN ATE

THAT'S sow’ 1o HAVE TO MAKE

_ DIQH wAsl-usrau‘ somermue BABV-MINDNA MAN'S JOB so TH’

PUSH MEN OUT

ULDNW MIND lP OF IT

WHAT- WE OF ALL. ThLé NERVE '-

WITH MINOR Hihal’!

'2’ You eurnruv é, A EXPERT ON g CAMMING

Baal-as. MlSTAl-l '

MAvIoP. l-u- LlTTLE LEO LooK As HAPPY A5 A cow 1M A. CAWMHELD.

.n..'.'.

This store closes Wednes- day afternoon at 12.30.

Saturdays at 9 P. M. All other week days 9A.M.to5.301’.llii.

Honduras is the greatest banana of 0,000,000 land in the world. annually export-

iing 12,000,000 stems. i