Price: 97 and interest

International Power 6% 30-Year Gold Debentures

Yield: 0.20%

Circular

~"~—~< ~_ ..

u-raarumorvsr. Power. Coursrw, . Limited; is a Canadian company. It controls successful light and power properties operating in Central and South America and Newfoundland.

The Cornpanyh 6% Debentures oﬂier the stability afforded by geographical distribution of investment, and the same time give a decidedly at. tractive yield.

will be supplied upon request. phone or send us you address below.

it

describing this investment Tele- r name and

Nam’. ..'.'.'T.TI'......'IL.T............

Addrur.....................

---.-.--~_-_~_..

The Time ,To ‘Increase

DUI to on great

. levels in many years.

meat Issues, oonﬂdw his favor.

Eéaisiicrhr p

QUIT JNIO.

In Memoriam MR3. ARTHUR I. HARPER.

- __.

Citizens of Charlottetown were shocked on Thursday to learn or the sudden dead oi.’ Annie RPidgeon, wife of Arthur J. Harper, conductor C. N. ll. of this city. The late Mrs. Harper was the daughter of the late Capt J. _K. Pidgeon. who for many years sailed from Imglish ports and the grand daughter o! Dr. James Pidgeon o! Edinborough. Mrs. Harper was a "Oman of exceptional ability both as l Writer and composer. Her many virtues endeared her to the hearts o! those with whom she came into contact and those who are left to mourn their loss may well emulate the Christian characteristic which were ever so apparent in her daily life. Be- sides her husband. she leaves one son Harold A. to mourn the loss of a 1°"!!! wife and mother; 5150 by thre‘: brothers. John H, Jas. A., Frank, all residing in French River, also om

Royal Securities Corporation Limited ‘

Riley Building, Charlottetown Telephone 8D

market, bonds - neglected and today are selling at the lowest

long-term investment for his funds may, in geneeqnsnce, purchase high-grade invest-

Ollr March Investment Oilerlng List will prove extremely helpful to those desiring to take advantage of present conditions.

May we send yon s c0117?

nuns-c. A

tlllttlliilill gsonraui.

is Favorable Your Income

activity in the stock

recently have been

The investor seeking

um w. market u in

I

mung

dence, R. I. who arrived in the city on Thursday night.

‘rhe funerbl was held on Saturday the 10th., the service was conducted by the Rev. J. W. Johnston of the Central Christian church assisted by the Rev, E. H. Ramsay, D. D. oi Tri- nity. The services at St. Paul's church and the grave were conducted by the Rev. H. D. Raymond M. A.

The Pallbearers were, Conductor J. "McDonald. Conductor W. O. Davey. Conductor. G. S. Ryan. Messrs J. U- Sims. Allison McLeod. Frederick Wal- lcr.

Floral tributes were received from. Mr. R. H. McNeil and iamlly. Mr. Vernon McLeod. Mr. and Mrs. Johll Williams. Y. P. S. C. E. Central Christian Church. Mr. Robert Hurry- Mr. J. C. Sims and family. Dr- S» R- Jenkins. Mr. Alf. Frizzel. Mr. and Mrs. Roland Harper. Brother Frank and family. Mr. Geo. nurper and family. Mr. and Mrs. Ben MQEMYWW- Mrs, John Harper and family. C611- tral Christian Church, also tele- grams and letters of sympﬂihl’.

lister Mrs. Edward Burdett of Provi-

m

,, ...

(Patriot Please Co?!)

$5.1».-

Bank

Investments in

of almost 10%. The

the opportunities sud-i

i H00, ,000

Acopyviilbsmton

as an Investment

Canadian bani: stodts made 2s years ago have yielded an aw"? “m”! m“

im ‘ve records of such 220st‘. m4 eel"! has“; in capital 8f0Ck-—l|l<l other

facn concerning Canadian haustively discussed in our

MARCH MARKET LETTER

Stocks

investments in appreciation - semriues now ofia- the

banltstodtsm¢i~

gossip: of the carpoo-

_. __- not. ;

Iaalﬂaalillds» swam-r -"-- ‘

Nell‘

naasaiisciﬁﬂTvs-‘T

Marines

a»

mdlarsncsﬂarriﬂli ioyceltawﬂt. l

1L

ms STOCK MARKET

(Oowrlsher

"ile who sells what isn't his'n Must buy it back or go to Prison."

How is it possible to sell something which you do not possess?

Every day salesmen are selling goods to merchants, and at the time of sale s. great many of these articles have not yet been made. in many cases the materials for making these articles have not even been purchas- ed by the manufacturer. The manu- facturer sells something which at the time he does not possess but. which he is bound to deliver at a future date. He hopes to be able to make a profit on the transaction. natur- ally. but he must make delivery, pro- fit or no profit. This practice in business isrecogniaed as being legi- timate and economically sound but -it constitutes a Short Sale.

Short selling of securities in the stock market is a prpctlce whiiah has created much adverse criticism and has been condemned as morally and econoically d. But i! short sales were not permitted the Stock Market could be likened to a high powered car whichis not equip- ped with brakes. Short sales act as the brakes on the Stock Market.

All business is done on speculation. When a merchant stocks up his shelves with goods he is speculating on the chance of selling them. at a profit. When the manufacturer sells soods which have not yet been made he is speculating on the chance oi being able to ‘manufacture them at a profit. When you purchase secur- ities ln the stock market you are speculating on an increase in the value of the securities. ‘- When you buy 100 shares of Eastern Gadgets you are not only speculating on an increase in the value of the stock, but you are virtually speculating in the commodities dealt "in by that company. Therefore if it is moral- ly and economically correct for the Eastem Gadgets company to sell commodities which at the time they do not possess, then it is morally and economically corredt for you to sell the stock of this company which you do not possess. The commodi- ties must be manufactured or pur- chased. and delivered to the buyer, and the stock which you sell Iililsi’. bs purchased and delivered to the buyer. There is no economic differ- ence here.

There are two forces constantly

i at work in the stock market and the

i. SHORT SALES ' , . l ~ . Article 1!. conflicts! these opposing forces tends By DON MOORMAN. to establish true stock values. The Bull buys with the expectation of

selling at a higher price. while the Bear sells short hoping to be able to buy at a lower price. When the Supply of Stock equals the Demand for it the result willibe ‘approximate- ly true Market values. Given favor- able conditions generally, most trad- ers in the Market are Bulls who pro- vide the buying power. But the Bear element is always present in every market and as an advance progress- es their forces are increased by other sellers with bearish ‘instincts.

When the short interest has reach- ed sufficient proportions l; will act as a decided check~on the advance which is a good thing for the Mar- ket as without it, prices would be bid up to dizzy heights out of all propor- tion to the values of the stocks. When the selling reaches greater volume than the buying the Bears will force prices down to the point where they can ‘make a field day of it, but their buying at lower levels provides s. cushion of support for the Market and helps to bring the de- cline to a halt. Again the action of the Bears has produced a decided check to the Market. Sometimes, however, the advance continues in spite oi them, and the shorts are "run in," that is, forcwii to cover to prevent loss, and this, of course, brings ad- ditional buying power into the Mar- ket with the result that the advance has not been halted, and s. few more bear hides have been nailed to the barn door, which is a sight to glad- den the heart of any Bull.

Short. selling, while of great bene- fit to the market generally. is a practice which, differes from long buying. When you go long of a stock you are not bound to sell. You are at liberty to sell it on an advance or you can hold it indefinitely. If the market declines from your pur- chase price and you are in a position to carry it, it is merely-a matter of sittingon the stock until the price comes back. But when you sell short, somebody has bought the stock and sooner or later delivery will have to be made. You are under an ob- ligation, you owe the stock, and you have entered into a. definite con- tract to deliver it when required. Now the-only way in which you can do this is to buy the stock. Whether youido so at a profit or not is some- thing else, but you must buy it in sometime.

In comparison to a Bull movement s. Bear movement is short lived~but it is a merry little party while 1t lasts, if you happen to be s. Bear.

MRS. CHARLOTTE BENT

_ SHEDIAC, March 11—Cape Tor- mentlne relatives have received word of the death as the result o! paralysis of Mrs. Charlotte Bent, st the home of Mrs. William Wadman, Ausustine Cove, P. E. 1., where she was visitini- she was stricken two months ago and had been in the Prince County H05‘ pital since early January. Mrs. Bent was '71 years of age and had been twice married. William Allen of Cape Tormcntins was her first husband- Her second husband was also a r65- ident of Eastern Weatmorland. He died 20 years ago. Mrs. Bent was a daughter of the late illllim Bike!‘ of summerside. Dixon B , er of Mono- ton is a brother. She was hlsllll! *5‘ teemed and had many friends.

MURRAY HARBOR. SCHOOL Honor Roll of Murray Harbor School for the month of February: Principal's Dept, Grade l0:

1, Ross White; 2, LeR/sy White; 3, Marvin Herring: 4. Roy Bril-

Grade 9-1, Lucy Phillips; 2, Grace Penny. . Grade 7-1, Brucs Stewart; 2, Ch - ter Cooper; 3. Audrey jProwse; 4. Claire Stewart and Muriel Bueii (eq- ual.)

Grads 8-1, May Jordan; 2, Hazel MaeLeod; 8, Doris Reynolds; 4, Doris Macbeod. r Intermediate Dept.

Grade V Sr.—l. Lloyd Herring; 2. Sadie Brehaut: s. Carrie-Ghanaian: 4. Janie Jordan. ‘

Grade V Jr.--l. Jean White; 2. Bet- ty Fraser; 8, Preston Robertson; i, Florrle Stewart. .

Grade IV Bn-l. Haael Prowte; Aubrey Bell; 8, Perkin-l, PWWIN Charlie Beck.

Grade IV -Jr.—l. White: Nelson Kennedii 3- “We 9°09"; Jeanette Agnew and Ivslins Liv- ingstone. orada III-l. Ithel was»: l. Per- ysy rescued; 8, Florence Jordan: 4.

Jisraldlcll.

Primal! 9

Deyartnea ‘ Grads 111-4. Pearl whim‘ ,1‘ Iv-

‘ clrn sum; s. your. ream cam

Jackson- . Grade 11-1, Willi. IMHO?! 3- s, aims loci: l.

0

Helen Herring; 3, Claude White; 4, Joydc Bell. _

' Grade 1 Jr.-—l, Phyllis Chapman; 2 Dorothea Smart; 3, Alvin Chapman; 4, Earl Sharam. r

Perfect attendance: Ross White. Margaret White. Chester Cooper, Blanche Penny, Doris White. Doris Reynolds. Lloyd Herring. Carrie Chap man; Elizabeth Fraser, Perkins Prow- se. Max Cooper. Joyce Cooper‘. Fred White, Jeanette Agnew, Ethel White, Gerald Bell, Perley MacLeod, Vivian Penny, Helen Jackson, Clarence Hyde Maris Beck, Helen Herring. Joyce Bell, Murray Bell. 1

T. L. Harris. Mildred A. Cooper. Harris E. Jordan. teachers.

..k..___-_-_._

i CRAPAUD. A short programme

consisting of contests. games, e11»... followed at. the close of the business meeting, and a very pleasant social evening was spent. It was decided to purchase window blinds for the school. Place of next meeting is home of Mrs. Austn Soby-

lilo-operative Investing ~

itbe title of an. article‘

{r___

Imam 1min Montreal. landsl- Hamilton. Ottawa. Winnipeg and ‘New Yerlr.

i

THE cusatorrsroww cvmzﬁfsw.

_' man." And he spurned the body with

Men Marooned

’ Continued from page 2 "Ambush us. eh?” snarled the hali- breed. "You do_ fins job, Joe Moko-

ths bow of his snowshoe.

‘Bo he meant to get that fur i1 he hair to bury vs in the snow?" said Garth, turning from the ugy picture to his dog, still whining with the heat, of battle. "Good old Shottlei" And the man hugged the hairy shoul- ders of his friend. “You tracked him down for Garth, didn't you, old com- rade of mine?"

"He dam goo dog, Shot eh?" cried Etienne, slapping the shaBBy back- He know more dau some men; he know Joe, he hunt us."

He thought Joe was s. German sharpshooter, didn't you, Shot?" And seatedcn the snow, Garth rocked to and fro, rubbing the ears 0t his dog, soothing his excitement in the low notes of a language none but We wriggling airedale understood.

"Wal, we bureo dis skunk can do snow and let mhieu’ iox deeg hiih out."

"That's all we can do. He mus‘ have heard from the travelling 1Y1- dians we were bound for the Canoe ‘and decided to stop us. D0 Y0" WP‘ pose that McDonald knows We ‘m’- here shd sicked him on us?" Etienne shook. his head. "He b1“ up dis end ds islan‘, so do hunter say? “I'm sorry this happened." said Garth, “There's no telling what kind of a tale they'll ma" °i "'- I W“ a sled would show up so we wuld 811°" our evidence."

"Eel we stay on $51M’ m" M” Donny he“ hes; man ses dead, we have to fight tor sure.”

CONTINUED

rnrrr. IlllfllIIIIILLJIIIIIIJIITKI! IIXJJ

lllliHi.

What Mrs. Smith Do

How will she live? How will she feed, clothe and careijfor her little ones? I don’t

. know. Smith's salary was buried with him. He left ‘her nothing.

JJIiLfrI 1n ununrrr-nn-zlirrlﬁ...

{-

What williMrs. Brown Do?

Haven't you héard? Brown left a salary above the sod-r-a monthly income through life insurance to§feed, clothe and care for his

u__. |IILLLIJ_._TTLITY 11111.1- .‘ 2-1. s-v-a ..

Stock Quotations

HALIFAX, March 13. —- Quotations furnished, by Johnston and Ward, Members Montreal Stoa‘: Exchange.

New York Exchange

iuuiu own" -_-_"

._ m4, ..- . .

mar-u

family for aslohg as they need it.

Under one name m» another there are Inany Sinit/as and B mums int/w world.

1

If the monthly cheque from your ﬁrm should stop

i l l through your death. see to it that a monthlycheque i

as, T0118: smut»... 100*; _ _ _ p _ _ Am. Can o0. us“. from The Imperial Life Will be there to carry on. If 1t

Am- Car 8» Fdv- C“- 1°°‘& is never needed for-the u: ose, it will ' rovide YOU

Am Locomotive Co. 112". . h thl . l 1k

Ani. Smelt. a Rel. Co. .. .. 1151.1‘; w“ a mo” Y "mo"? ‘Ker Piito m c Your ° 38°

~ M .00. 5'1‘. comfortable. Total disabih insurance for ou too.

ArmBosch as I , _ An.Cop.Mln.Co. ... .. 159%. V 5 v

N. Y. Cen. 8a Hud. River R. R. 1881i _ _ _

Con. o... Co. m. Y.) 10s Write for particulars ofThc Imperial

Hud Motor Car Co. 81 hfeMonthly Income Policy today.

Stan. Oil of New Jersey 49k 4

Reading Co. ... .. 1071-1? _ .

Southern Paciﬁs .. 109‘: I '

U. S. Ind. Alcohol Co. ... .. 141 _ k Westinghouse Elec. . _, - . “m We“ w‘ 183'” ASSURANCE CO OF CANADA

Q Montreal Stock Exchange Head O - - - -'- '- - TORONTQ ,. .

Abltlbi . .. 43p.

Industrial Alcohol .. .. 40.5 . I

Montreal Power -- 1°” 1'5 Branch Oﬂice: 70 Prince Street, CHARLOTTETOWN Brompton...............-. .

Can. StmshpCom. ... ... 48w _ n‘

Can. Stmshp. Pfd. ... ... .. .. 10;: ‘ 13011111110" Briie: " '“ u. - -- "-"'@".:: ":::-.:::::::::'- q Massey Harris .. .. - ~§a:: V. U” . ,__,__.,v

vs QI\ ace 12 ,_ . giﬁgpzngrééérgyn": H __ 271-’.- Bidgood 44 44 41 rest in ‘Mldgeil oemeiery.'_'.i;h¢ pnllf George Cobb and m __ . , » I 1» 1 " "' ‘ \ ' ' "... -- -- ;z::1:;..~ 2r :1" 2;" “army; ...... ...... Fraser and Co. Gig-my - 23% 23,5 u Dlnzwell.‘ A1181!!! 95?; u Chas.Gurd................ a - ' - ' - " ' ' _ , a, ~‘ _ Power Corporation ..._ .. .. >111 91213101375“ S: 1:; 12: i _ﬁ*I-HE_M _ F°mgn semmms " " 51?? Hudson 202s 2015 2100 I- XURV Brim; faith“ o“ 9i Int‘l Nickel 5000 c000 e000 IQA|~TO , . 1mm“ " Lake Shore 2500 2450 2450 1. Malartlc .. . . ..' '13 12 12 BANKS Mandy 15s 150 152 ~ ' ‘i r. lvlclnyvtre ..... F100 2100 2125 Bank Commerce .. 851‘. __ ,. sea Mcsouguu as s2 s2

3”“ aw“ " ‘ 3611mm. curpn . . s40 s00 s50 3m“ Mmme“ wfmciutt Hull 20 20 20

Bank Nova’ Senna n. I. lilurphy .

AT Nmvbcc .. WEE Noranda . . ... 1253i. Pioneer ....... 51 51

Mm“ " 1m, Sher. Gor. 020 250 230

May» - i“ H 1321.; Sud, Basin ....'11s5 111s 1120

My ' Teal-r Hughes 9-10 22s s40

Tread. Yukon .. 1525 1550 1500 Co!“ Viponci 110 111 111/ - Windfall o1 or 07'. _

"m"! - ' ' ' " " ‘ ‘ ' ‘ Wright Hal‘. 212 210 21o r .

M“ ~ ' " "f 1021;." Siseoe s3 05 _ 02 ~~ . 1

Juli - ' ' ' ' “ Sylvanite . 21o 20s _ illhllIEDf p

Bllck- w" 09*‘ 1° For I JIIWMY rwlcte with scenic gems made the more ' m“ Faiconbridge .. 122s 122s 12cc eaioysbie bymixxfuriuu. app?’ Mid thoughtful _' - Mon. Basin s1 we 05 '°“"‘°r“*‘ '*“°“'""" *- a March " 475'.‘ 1 Missouri .. 1'14 111 11o rwllllllpt Edmbllﬂtll, . __ is». B“ ' . as, ... u M s, Anthony 41 45 4-1 Jasper National Park _. -" " 31m?" m" “:3 m3: “if; Prince Rupert Vaneouvesaf WHEAT en “r” ""‘ erenroubehoCallfors-ih _ Issnvzatllllgarsreaﬂmaventureﬁegg __ 31/ -_---_-_---- ‘in! ~ 9-m- ‘Illa-Willi M!!! --- "' "' "‘ "‘ "' ' 13132 ‘ Iqnlpmentineludeaatarxindeod tourist aleﬁbini uni‘ July ... ... ... ... ... ... .-- 133 Miss ANNE “EATON , qmppqnent olzsgzatlongizﬁiabuffectfcar (radio our", ... ... ... .. .. ... .. _ “will coach unit . iiittin ' 515N953» Mmmo axon/snot: on Feb 11m, 102a. there passed _"__.__.’ ' away at Church Food. Midgell, Miss Quotations furnished through cour- Annie Benton at the advanced rad! tesy of of 85 years. ‘There are left to mourn one brother Finlay of Sturgeon. P. more M. ATWILL d: O0. E. L. one sister Mrs. Barbara _ Washburn of Concord. New Elm?- Charlottetown Oifioa shire- Funeral service was held at ,_ March 13 her old home by Rev. A. Murch- Op. Noon 01°" icon. The hymns sung were. What Abana 21s m i: a mus We Have in Jesus. Jesus 22s - ~ - . . ...- --. -» i“l“1f‘.. -11 as u 3111'.’ 21.3.? 31512;?" Zililmii- ...,"ll.ii'.°il‘;.ii'r'l.?t.“€ui2ii:: "s: "....""~.-_"' - u ~n~1:~"."' m“ ~'~"~'"'-'~