FEBRUARY 21. ~192s TM

R health keep a jar in the bathroom. "Vaseline" Petrole- um plly is a quick home remedy forum, wounds, burns and scaltls, blisll-lg, sores, windburn, Chafing. B“. m apply, safe andpurc.

For bfilllzys sake, a jar in the_

"pens to encourage the eyebrows Jlltl lashes, to massagethe scalp q ‘lain a healthy condition, to soitcu the hands and keep thcm [let from roughness, chopping, hangnfllllfi, ctc. (lnod for hair and hands because it's an ideal nlllll I icni. \ Fllrillnlilv collvcliicncc, a jar nn m,» kilcllen shelf. Keeps rust olf ' m‘, “UK, oil irnu pills, nil tlic (llllllrclfs Sliilllis, tllc nlclfs

u, “fill qlllf chills. Reclini- llltlltlcil tlll lllllrilv-iiigz; Wffliifljii "uthillffi (llr ihc ggrcllsl. ILIIR . “m! h); llll- llest gnrlrgts Illr llliiiup lillticry lerulillall to llrgvrlll COITUBHIIL. T||¢rc's lln end lo llic llllllllf- it (“l do (or you. Write tor lrc<~ llotllilcl 0f "595-

Vaseline

nut

PETROLEUM JELLY

.;.r,;.r.=,- rr ~ if» Pd.» "c. ' .

Pownal News

A lllllllllfll’ lll’ llntlllnlldiilg i"l'l‘||i1 lilivu (>t‘t‘l|I'l’Il ill tllll’ district 11"’- cnlly. Wi- rl~l'i\r tll lilo ci-ii-llluillnl! at‘ ll wedding <'lIlIIlVt‘I'-‘lilI')' uiitl :i.l- l'illli't‘ll lllTlllillLVfl- The most uni- slnulllilg of thcso. being oelclirzill-ll on TIIPSIIEI)’ lhl- i-ltli when meniil- orll ill’ the WJLS. ot‘ the Ilnitlill ChllTPlI n.’ Pcwnal cnllctl on Airs. Sarah Jones and plcscntctl iii‘? with a illiatitlfltl potted plunt _ on the lll-clisiiln ut’ licr 90th birthday. Ilrs. Jilin-s rlttingly ricknaivlcclll-li-l the girl, 'l‘hl~ llttl-rllonli ivas lllP-‘Ll-

mtly spent in sociul iuterrtlurlle- Adrlilipttlll suilper- was ecrvzld liter w llt‘ll llii‘ tnlllors rcliii'ii<"l home lluvlnt: ivished Aunt Snrnli molly mrlill years 0t‘ health and happiness-l. Nlrs. Jones is hall‘.

hinirlylziul. ni.lli0l‘|l. u casual oli-

‘lorrcrft-llllld not guess- ll"l' 2w.“ withllrll-il ill‘ flficl-ll Yi‘.'ll't~'- ’l'!i<‘ wrltcl" wishes hrr lllllli_\' llllll-l-

lllrillilllyé-l- ' Si-lllotil do wc, have tho lllliuwui" ill ("illlllil u llltlnitlnd jullill-l- ail-l

‘l tlull .\lrs. {Jurlll Jllilus who

iriirr riltinpw rcniilinht-reil rln thl‘ allvcul ill‘ their wclfdinl; ilily. lPl-iv l'l.li'll'_i' lltll. .\lr. and Mrs. JfllW-‘i arl-tlllll- l-ongrntitlutctl on thi

till-Ir diamond wiidlliugw They arr lllllll lltlli‘ null hearty, halving woul- ill-roll wl-li thll many storms oi‘ tilt yi-ars sailing lln tho perilous sou vi llil‘ .\l . Jllllelll wus iiizirllcd \\'l|t‘Il‘ llc was Bil while his fall‘ DRTHW", was lllu 2i, and utter thcilu inriu)’ roan"..- wliil-h huvo hot-ii both (if, l"l'.~i and slrrroivs, we arr Kind 1"‘ We lhoul llll young and lll'llVt\ Hlltl wilil llll- llllllk m‘ ll0l_V writ as their ltililll- and (‘HIIIDIIHH ill the fllliiri’ :i~‘ ill tho llasl we will witch with llirasilll- tlu-lr snilitti; nu lliill Ull ' i llll- (‘ilyllll-ailtiful- I ‘Filll Yllnnr, iH-ilpllis lallluill: nil-i Illl \\'i‘tlllt’Nlll'l_V llltil lLl illil llttllll‘ “l. .\|rl=. Will lilflrl» A llirgi- iullillll-l‘ Wllrl- llftllliilll. uuli li tlt-lilillifill llllli‘ iiliillli. A lll-lluil- which llus lll-l-u ilnllor llrilparlitlou for lilltiw ilinf‘ Willi lllll-lw-nllflilly (flll‘l‘ll}(l out. ’I‘liiil .

fllrul oz‘ l-llll‘.~rt.liliiilr~lll slulilltl l11'"'~"‘ Slillilb

"llliyiul; {is \\‘l‘lllll~llllIl‘l'i‘!<lllI‘){ will tllill will lli‘ a stinltililll to our bu.‘ liliru sllllll- duy they will ho drill -

i-rlllr. llll- Slim-ch irllni illll "Phr-llll- .\lui‘.l' -\l"(iili'l'l'i 3- lmnlu“ Mllhlhll

on lhlrlialuiglit. lllll.

i- - l

,.\tr Prior hliit-Konzll- splint. thi-

Wrk lllill Ill MI. MPlllPk. lln- curd 0|‘ .\ll-. and hlrs. W. Wood.

lllllldnir. Recommended by beauty‘

.~"<~"' ..

hllnnrdis

Address Dept 13 Chesebrcugh

Manufacturing Company, 5520

Chaboi: Avenue, Montreal, Canada. Ami mmflnbfl‘. when you buy, that

. the trade mark "Vaseline" on the '

package is your assurance that you are getting the genuine product o} the Chcsebtough Manufacturing Company, Cons'd.

u: unmt

Mrs. ll. Yl-ll uilil litill- s.lll, Il.l lliwlf illlycll u visit hem recently llli‘ uncut ill‘ their pail-ins .\lr and Ali's. tall-ll Jilin-s. .

'l‘lil- lilllnl- lll‘ .\lr. null .\II'H |lll .\illl-i‘.illl-, AlflXlillilfll prescill- l-ll u jlllly ill-cut» on ’l‘ili=silll_v night. ‘lllfl l-illl, when lrleliilli llt‘ till-Ir ldlluirhtl-l- Jenn, Iillrs. ti» hIucLellnn

lgrnllni ll sliowcl. A deligliiitll limo lwas spoilt nnd many gills received- ;At‘ii-l' u dainty lilucli With‘ served ‘iand t-ililgruluhtillns otTcrctl. i l-lliupznly ilillporsed- l

Despite the Zero weather on Sill!- lilay night a uooil rllngrl-gatlllil lis- [tllilrll ill a well ilellrercll lllirntllll lily Mi- Litllejohns- ill tho absent-e iltlie fJPl-ZllIllSl, Miss Francis \\'oll l vt-lgl‘ ltililll_l' supplied.

.\li:~‘s “loud. who is a student at lP.\‘ll'.(‘. splint till: \\'6'('l( (and will llll-r ]>.ll'(‘lIl:-i, .\lr- untl Mrs \\‘.\\'ltod, ..\li .\lt*llli‘li. ‘

l t l l

l

l On Szltilrllay ‘eniug last n dc- linlttful time ivzis silent at Illi! homo l :l' Airs. llclriunliu \\'<lilll. Alexandra

lllllpllriillliil’ ill shown-r .\ll'- and Nit?» lWilllur Wood wilil china, silver. class-wart‘. iiuon und also a heliu- iiful .-l-t oi‘ dishes llll‘ \\lIl(‘ll ‘.\lr_.; Wlloll and his llridi- expressed lhclrl lcrzllyul thanks. .\ liirllr HIHIIIIFI‘, \\,'||]‘U |]jl}1i_lf]|' m which :1 dollgltftlill

luzli-li wall .~-t‘l‘\'t=tl- Sllcurllos wort‘ ‘llliliit! by IIlfVl Ml‘. lllllilill)’. Mr» Etlfl Ji-llklns and flllit‘l'.‘i. ; ______ l

Mrs lrlllruncl,» Ill-own u-asl a

\\'i‘t'l\' cud visitor hero. .-...__i—o>-~-—»

SOUTHFO RT SCHOOL

llllilllr rllll for llli‘ illllillh

January l

(Ililtle X. l. Illliltl. Kelli?

lll-lllll- ix. l. rll-ll slullll. I

iiruill- \'li. I. Joseph llnyllly; ‘l l Louis Sllillll: ll. .\iul‘_r Hayley.

tlraiit- Vi. l. wlarj-lrll- ivhltloch: , 2. llniiutl “drlllillfil It. Kenneth’ .\li\i‘lllIIlti.

Gratin Ill. I. Muriel Bilrkc‘; 3- |,._.,..l,|, yillllplll-l-sllll; .'l. liilirtlun,

(iludu ll. l.l- Ellu .\lau~l‘heratlr. |l‘l‘t-il VVlllllilt‘ . lVtlIl Slllllh. i

ilrlllli- l. i. Joseph Muirlunllt; L‘.

I

|"l~rt'l-l-.l Altoildnucil"Ennnu W"). llllis and .'\lllI‘_ll)I'l\‘ Whitlorll. will. A\- lllldlilli, ‘IW-liclifli‘. ____._-4*}--—

Llnlment for tlflillml-

New Dictionary i

llll N! \\ UNiVifRhilll a l~ ~ l)lt'Tl( IN \lt‘i

ll.llll

EDICTIIDNARIES IN ONE ~ Only On’. Ceylon Now Nodal

How to Get lt

tI-Nlnflilll cod J

1.°°‘1..'Zl°“93¢

l

lClETY-A ‘very interesting debate took place at. Lake Verde on Friday Feb. 24th, when n great. number of llr-uple assembled to hear the hear- ty and energetic remarks produced by both sides of the speaking order. i.a\= l'i'.‘ll> subject for debate was “Resol- jvrd tillit. talent. has n more com- Jlliilldlflg influence on citizens than wealth." l ticnourably us chairman. The speak- lziilholvlil to lPIItiPl‘ tho bride and?" (In U19 "PTO" Side Were BS fol- Icws: Mr. W. P. Cairns, Mr. Josepil ‘Hughes, Mr. C]ifl'ord Murphy and Mr. Owen Callaghan. On the “Coii" mo side were Mr. Wm._ O'Brien, Mr. Jnmes Wood, Mr. John Boylan, Mr. Sidney Brown and Mi‘. B

which could hardly be disputed by ‘the opposition in any other way. The decision was therefore cast. in Iavnui" of the "pi-o“ side. lt-rl. tor the coming week is: Gov- ernment Control versus Prohibition. ‘Tue speakers on the side of Govern- lncnt Control are Messrs. Murphy, .Hughes. Cairns and Callaghan. For Prohibition nre Messrs. Wtcd. Boylan nnd Browti. A hear- ty welcome is given to all visitors’ to attend the debate on Friduy. Mfiftfl] 2nd. 192a. l

Recent visitors to Capo ‘Pruvcrsel vrcre the Messrs. ‘and Arciiic Robinson, who attended --—--» -----~ the “Hockey Mntcil" nt. Cape 'i‘i‘n- lverse and reported n very good scene. l

Mrs. iwillinm Myers of Hampton. P. E. I., spent the week end visiting

‘ with hcr parents Mr. and Mrs Louis Hawaii, Tryon, P. E. I. J l The many friends and sympathiz-

lers of Mrs. Bradford Clark. are very sorry to‘ learn ‘that she has been M lmuch more poorly in health than ‘she has usually been for week.

lsouthern States. with the Nasoni-l,

i

i

l

l

led away nt. the Royal VictorialHos- '

l age, was n son of Mr. and Mrs.‘ An- “gus Sutherland of Cardigan. Be-

‘leaves to mourn five brothers and ' two sisters.

V. from the residence o! his parents LSunday afternoon at two o'clock.

‘lilinartfs I ' '

were Mrs. Harry Innian and daugh- tci‘. Miss Olive. the guests of Ml‘. Cameron.

“f, Mr. Thomas Alien of Capc Trav- erec passed through Augustine Cove Monday morning, en roilte to ‘Pry- lOII.

Messrs. Lcith Cnltirron, drove to Summei» side Saturday to spend the week end -witli the iatterb parents Mr. [and ‘Mrs. Artctnas Cameron.

“Well I'll say." tho onus that. were _ limping and wishing for frosty wen-l - tthcr has sure tasted it all right. to lit-arts content. hopti for much more of that, kind 0t" weulhor for iiwhilc. Bill,“ ch!

l Florida,

i ll Cfillllrall Guardian lmnwmattuz :72; 11

l‘ NEW UNIVERSITY DICTION- ‘ARY to Guardian readers for 9S

should lluvc one.

cents and one coupon. Every home I tt,

. HARD COAL FOR BASEBURN- l‘ an - We can HIIDDIY the beat D. IL. ti’; W. Chesnilt. A. Plclmrd a‘; 'Cn., Phone 240.

2692-2-23-3i

l SERIOUS LOSS-Mr. Wallace) iWheatley of East. Royalty had the‘ .mlsfortune to lose two valuable; ‘horses within the past three weeks, {the last one on Thursday of this. lweek. . l PROFESSORS H. w. only and-a. EW. Reid will address a public mecL ling in Middleton Hall Monday ‘ev- lening, Feb. 27. They will discuss-l ,‘Llvc Stock, Seed and Fertilizer. I l 2740-2-25-21

, 0N ‘EXTENDED TOUR. — Miss‘ |Margnerite McQuald. whose folks fbelong to St. Teresa's, is as present lon an extended trip through the

lot Swampscott, Mas-s. Miss‘ Mc- lQuaid has been employed for the Inst yenr and u. hail as governess to Miss Virginia Nnson. and her pleas- ant disposition has won for her many friends. Miami Beach, in is quite pleasant. at this time of year.

HOME FOR. BURIAL-Thc rc- - mains of the late Paige Sutherland, accompanied by Mr. Gordon Suth- erland, a brother of the deceased. arrived Ih-iday night from Montreal ._ where the late Mr Sutherland pass-

plinl on Tuesday. The deceased. who was about thirty nine years ut‘

sides his sorrowing parents, he The remains were for- wurded to Cardigan Saturday after- noon. where ihefuneral took place

LAKE VERDE DEBATING SO-

Mr. John Grimes acted

Ansley wn. Both sides produced many its of ‘importance, but. the “pro" tic showed many suggestions.

The sill)-

O'Brien.

Augustine Gove l Notes

"By Naia" visitors to Suiiimersidc

Rstcnt

While there they and Mrs. Artemas

Archie Robinsoil and

I guess we will tint “Whnt do y'sn’

‘IT-IE CHARLOTTETOWN GUARDIAN

y You Can Share in the Profits of 210 ‘Leadingtlompanies and Banks

You can, through an investment in Federated Capital Corporation, share in the profits and par- ticipate in the growth of 210 of the leading companies and banks of the United States and Canada. - l‘ l .

An Investment in the Growth and Prosperity of America

FEDERATED CAPITAL CORPORATION ‘

Depositary and 'l‘ranlnl‘l=i- Agent: Th: Bunk of America,

‘PAGE FIVE __

AN INVESTMENT TRUST

44 Wall Street, New Yurll l

_ Republ

Ileilh Cameron

Fedcmwd Cont"! Cvrrimlullll OWIIJ Slocln III

These 210 Companies and Banks

ioo courmizs Mt! Loud DI III: New York Such Bschnrl)

Allied Chemical A Dye Corporation Amoricui Bunk Note Con: my -‘ Allllflclll Bnko Shoo l lyountlry Co. American Cnn Com y American Cur and ountlry Company Elli-iron Com y Loeomodvo puny Radiator Company smvlllfll l Rlflnln] Company afield ‘Ii-‘oundirl? i c

ce one clagrup o. American Tohnpcco Company

uni-tun Type Fnundcn Cnmpun Amcrlcat; Wlter Wprkl

Y El . Cm. .

Aonoclatod Dry Good: Cofiporfilon h‘ Atchlnon, Topeka and 5min Fa Rwy. Co. Atlantic Con! Lluo Rollrond Company Jnlrlwiu locomotive Worlu

lhltzmon and Ohio Railroad Company Such-Nut Packing Company

‘QYDOHYI Edllan Comp y, Inc. aurroulhs Adding Macro; Company Llllfomln Pocklua Corporation

Control Ruth-odd ompnu o! Nov Jcney Cerro do-Puco Cop or o oration Chcupulcc Q Ohio nllrun Com any

_ cugn Q North Wnnru Rallroa Co. Chlldc Coin any

COCI-CDII' ompany

Columbrln Can and Eloctrlc Car ration Consolidated Gan Co. o! Nov vori, Th Con: Product; Refining Compuuy Dolnwlro nurl Hudson Company V Dulawcr LICL. a. wuul-lll R. ft. ca. Dutrolt dlnun Company

Diamond Match Company, The

. I. DuPont do Ncmohn h Cm, lne.

Eutmnn Kodak Compnny of Nov Jorny Flehchmunn Company

Gonna Cigar Company. Inc.

Caner: Electric Company

Motor: Corporation

- Railway Sinnl Company

estern Sn ar ‘Compnuy

Illinois Central Ru lroud Company | InIeraoll-Rnnd Company

International rhrvutcr Company lnliirnntlonnl Vlchl Com y International l'el. and Tor-Conway Kennceutt Cop er Corpornlion

S. S. Kresge mpguy "

S. H. Krau A Colmpnn

Krorer Green und Buffing Compuy lljoh gh Valle llrono Compnny tlzurlllt... ':::..‘.."""" “we”

' I l h lll Mlhlyulliepuartmofi: gtoi-elohgmillnsruwny

onlnnn B2115‘ Clornpuny, Th: Cnh P 1 l‘ I Eeuliéylfroduclc Company n YFLTec-r fir" ' w . N31 Yglll. ciiillll- lll"il'f'if'lllli‘i"'il"i'i’ c. Norfolk an ' '

We: North American hl-'ll'lpl:;ll,'°'i'-i'l.c°“""y Northern Pacific Railroad Catnpuy nor Company Pacific Cu and Electric Company

Railroad Company

Pnatum Cereal Company, Incorporated l

Pullman Compnny

Rnrllnf (lluinpnny '

.. J. ..:..::l;l.'.";*l.E:::.' £21.21":

achultl Retail Sturu Corporate;

"on ern California Edhcn Company

nouthern Pacific Railroad Campuny ilwny Cnmplny

i I ;““‘.““.".'.l=é=.llrr.'..iz -l~l-~ --~ :‘:l'li::i‘::l" ‘cxn Corporation

Tlmloon Ruller Bearln Coin Tobacco Product! Colrporut 0.11:" Union Pacific Railroad Coinpuny Union Tank Cor Com any

Unite: Cigar Store: o. o! America

U It d S: t Re

U:It:d sill: slO.!Ityc:l’|!:I‘l::?:l?.n' c“ Wonorn Union Tolo roph Cnlllplpy Westinghouse AIr gnllte Company

c»-

ADDITIONAL PUBLIC UTILITY AND

INDUSTRIAL COMPANIES Goo and MICIIIIII UWQI‘ Store!

ll o/ M: above mentioned nook: on lulu!

H! N I’ k S I 8860481 , ' fill III‘! Ne; flit!!! ‘C0070 lllriltglllda n" “m, Philadelphia Sinai Bellman.

JOIIIII

CANADIAN COMPANIES

Ahllihl Power l Paper Cm. Llmitod Boll Tehlphouo Company of Canada Canodlu: Pacific Railway Company Cuuluinon Cc: Company of Toronto Dominion Brld a Company Ltd. (The) Dominion Tux Ie Company, Ltd.

llm erlll OIL United ML ofth mnurnatidn Chlflpuny Ltd Montreal Lt, Ht. l Pwr

‘saowuPowalr Con: nay a- ll I z-hotvriu-Wllllamzl-Co

.0!

on the Montreal Star) Exchange,

Toronto Stark Exchange, I on M: New Yarb

Mock Bckxgc, and’! BI the New Ilwht.

ASSETS I - ’ l - ‘r ' . . . . . . . . . . . . 2,U"2.3( .3? ‘mfisvwcigolifgmm §lljfli.j‘llz.tz‘.fi"rfYffiti‘.f"".'t'i"ffr?%.‘?fff?..... ..... ‘ 1-, *" I" '1" "1' "Y w g rom Brok -n Io Sal H! f .

‘flu cllunzzpfilé" Dividends BCCCIVBLDIB . .r. . I .l. .0 ._.’. . . . . l . . . . . . . . . . . . . . . . . .

l-Illllln)‘ Owing for bale of Capitol block (since Paid) . . . . . . . . . . . . . . . . . . . . .

Company

Compuny

MORTGAGE AND

GUARANTEE COMPANIES

Bond l Mtge. Guorlntu Company

Lawyers Mot-flag: Company

BANKS

NEW YORK CITY: Bonk of America

The i Bonk o! Thu Mnnluttun Company

Bunkorc Trust Compnn

Central Unlun ‘Irult Cotnpuriy

Chou National Bnnlt

Chulham Phcnlii National Bunk

1 Chemical National Bunk

l Corn Exchange Built

' Empire Trun Company

l Equllnblo Trunk Coupon Fnrmurn Loon l: Trust

l.lllll’ll:lY‘:rI'lI.lI\ Claalupliny m-‘I-‘ul-n Nudonnl guild:

Tflll ' ' Bunk 0| Comm

ercI

.--,> E I

‘ Cit ‘law York ‘lyruotl Company ocalionrd Nlllonnl Bank BALTIMORE: Merchant: Notional Bunk

BOSTON x

Flrlt Notional Blink Old Colony Trust Company

Tho Natl. Shninuut Bunk til-Bolton

BUFFALO: Murin- Truot Coin on

Monufneturol- l rn on Trult Co.

G-IICAGO:

Continents] A Commercial Natl. Bani

I-‘Irot National Bunk Nutlounl Bank ol tho Ropubllo CINCINNATI: Flrlt National Bunk

CLEVELAND x Union Trul! Cotupniy

DETROIT:

getrpilt“ aflllildgCh uni

n c

iulfpn- sex: null LOB ANGELESI

Socurlty Trull I Snvlnp Bluh

PITTSBURGH! -li=‘l‘.."l‘ fiifiifiilblil. IT. LOUIS: Mncunlla True! Conan)

WASHINGTON x RI": Notional Bull

CANADAI Bulk oI Mollthll Built of Nov Booth Canadian B110: ol Commerce loyal Bunk of Cutnh

Wood! MIIIIII] Col, Llll.

.,’ Consolidated Ogilvlo Flour Mills Company, IJlpItod

Pmur Coupon Canada, Lt . l ' Incl Cuupuy ill-Canada, Ltd.

I2 o! the above mentioned mick: an limit

Company Company

lulunnco Company

lnournnca Company ' Fire linurnneo Co.

mplfly

Amorlco Can any Hurt 0rd

omplny ' First Natl. Bnrilt of tho City ol N. Y.

‘ Built of Nov! York

Federated Capital Corporation is an investment trust of the management tjype. It owns stocks in 210 companies and banks which are among the leading YIlllV/ély. public utility, manufacturing, chain store and financial Ofgllltllilllfliiti of the Non-ll American Continent. The 210 companies and banks, or their prcdclrcssors, are iiolcl for their steady growth, their earning power and the soundness oi‘ their policies i;l building up surpluses and FrSGFVGS.

_ The stocks owned by Federated Capztzil Corporation in the 210 companies; L1I"\ banks which, through their 1,000 subsidiaries, operate in every State of tho U.i . in every Province cl Canada and in many foreign countries. furnish a will; dii - fication of lII\.'i.‘llllll ‘III -—geographical, industrial and financial-and provide tinny sources of iiieczuc, Loth national and international.

Balance Sheet ED CAPITAL CORPORATION January 31st, 1928 - (Certified by the Auditors of the Compmiy: Price, "filler-fiance 6L- Co.)

FEUERA I‘ 6 on llu I'M! Curb

, Ellis; 10.00 ‘ LIABILITI ES _ Capital Stock Authorized: '

Preferred 6% Cumulative ($25.00 Par Value) . Common ($10.00 Par Value) . . . . . . . . . . . . . . .

Total Authorized . . . . . .

Inued or Subscribed: Preferred 84,391 ahareq. . Common 32,522 shot-en. .

5 ILOOILUUILIII) 2,000,000.00

in

. . . . . . . . . . . . . . . $I0,000,000.00

?

sign-cages?

Owing to Brokers foi- Purchases of Securitiell . . . . . . . . . . . . . . . . . . . . Accrued Expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Provision for Federal Income Tax. . Accrued Dividends Paid In . . . . . . . . Capital Surplus Paid In... Earned Surplus. . NOTE-88.853 I-lll not m. Prefcrre OCR "r inn“! n m u.” IIIIQIE Jule so, 19a Collmull uni. ll 025.00

[llhtd llfltl mill.

The following figures, in computing which the averages url- averages, indicate the progress of the Company. The uvei-llgl- <-~i;l‘ for the period from April 21st, 1927 (when the company CHIP-HR‘ lo January 31st, 19,28 (9% months) was $745,325; Fm- this |l ~ profits, after provision for Federal Income Tax, amounted to EiTl‘. approximately 10%; on the capital employed for the period, or ul lin- l2% per annum. -

Having regard to the average time the Pretl-riw-d Still-k (par \ issued and outstanding, the 6% dividend was earni-d over ill_r ' profits for the period, after providing for ilividcntls on lllt‘ I’l~<-i'<-l equal to $1.54 per share on theCommon Stock issuctl. Haring I‘(‘_ age time the Common Stock (par vnlue S10) was issuril ainzl ll. amount is equal to $6.33 per share per annum on tho (Immnon Hun-ll.

The net profits do not include unrealized profits resulting the market value of investments owned, ichich unrculizml IIFlIjIIa to an additional percentage on the ans-rage capital vrlip!:l_v-u.' [llr l.'.'

Inn. Co. York

.4 ._t%

warrant- lnlllling lhe llnllll-l». , In luhccrlhe for our ohurr 0| p" ohlro In rccpeel qr IIIEII all. ma". ar P".

Directors

HON. cil/lkirs L. crr Formlr Jumtl- oi lllt‘ >rplrlzlr i oi x...- rllli. FRANCIS lll-I\' Forlni-r \

W. . TROROLD. Prnidcn! ircetot, Federal Debentore Company Incorporated; Director, Leyllnd Motors Limited; Rotor, Georgia-Carolina Power Company. SIR ALEXANDER BANNERMAN, BART. ‘rel-curl. Alexander Bmnerman and Company , .