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DALTON SANITARIUM

SUMMERING AT CAVENDISH

GRAFTON STREET. CHARLOTTETOWN

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~ _ -QUEEN STREET, OHARLOTTETOWN

SIR CHARLES DALTON ,P>ioneer Fox Breeder. Donor of the Dalton Hall to St. Dunstan’: [ ' University.

l in Silvglioxlndustry

The rearing 0f silver black foxes in captivity, orig- linally undertaken as an experimental sideline in ag- riculture, has within the past few years developed to fsuch proportions that it has attracted the attemon iof practically the whole world. The story of its de- ‘velopment from the experimental stage, when, some -_ forty years ago, inthe western part of the Province, la few wild foxes were kept-in; captivity and their off- ,spring killed for their pelts, to the present, reads like romance. The details of this wonderful story have ibeen written authoritatively, the bona ﬁdes of the lindustry as a commercial proposition have been in- ivestigatcd by the Royal Commission which visited

lCanada in 1914, and the evidence submitted on oath

lby competent witnesses has been published.

Suffice it to say here that, in the ﬁrst stage of the-

industry the problem of domestication was solved and- the modern fox ranch created. The production was small and the rewards were gathered from the sale of pelts. Beginning in 1887 this stage covered a period of about twenty years. The pioneers made good proﬁts owing to the excellence of the furs pro- duced. I

The second stage of the industry began about 1909, when the demand for breeding foxesbecame so in- sistent that the owners of foxes rather reluctantly concluded to sell them alive, as they~were able to do to a limited extent, for about $3,000 per pair, some pelts bein also sold at good prices.‘ In 1910 the price of si ver pups ﬁve month's old rose to $4,000, and in 1911 to $6,000 per pair. Thus far the busi- ness was wholly in" the hands ‘of ‘individuals and partnerships.

In 1912 the ﬁrst fox comlpanies lwlere chartered and prices rose to $10,000 per air. The ﬂotation of companies was found to beproﬁtable and a period of speculation and inﬂation set in. The trade in options became extensive and in 1913 prices went up to $12,000, and in some instances as high as $15,000 per pair. During I912 and 1913 many companies paid very large dividends to their shareholders, averaging 50 per cent. yearly over tihe entire indus- try, and rising in some cases to 100, 200 and 300 per cent. ‘ '

In 1914 the silver fox crop was till then the largest in the history of the industry, nearly 1,300 being born and raised. From the beginning of the year prices showed a tendency to fall off a little, yet a fair num- ber of options was disposed of at $10,000 to $12,500 per pair. The war which broke out in August, witlh its crippling effects upon the ﬁnancial wlorld, caused somewhat of a slumlp. ' Many purchasers of options were unable to carry out their agreement. The com- panies were left with unsold foxes on hand and could not pay the handsome dividends their shareholders had conﬁdently expected. "

In all about $1,200,000 was paid in cash dividends in 1914, equal to six per cent. on the $20,000,000 actually invested in fox breeding, of which $15,000,- 000 was Prince Edward Island money. The actual earnings of the industry for the year were full six- teen per cent., of which six per cent., as stated‘: was paid to the shareholders, and the balance of ten per "Qllt- 15 Peilresented by additions to the ‘breeding stock in the ranches. ' ‘

‘ other considerable liabilities except thir capital, ‘they

Silver Fox industry; is Our i

Second Greatest Asset

AN txcnrnoxou. FOX’ - drug mwfwlmiélllhtﬁff! .

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R Silver Fox is thz ’ G Tl E

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enterpr-isqtheir ﬁrst investment being about $55‘ 000,000. The large additions made to the breeding stock since has had the effect of greatly increasingl the producing capacity ofthe ranches, while propor- tionately reducing the capitalization per pair, both very desirable features. I The numerous companies are ﬁnancially on a solid basis. The shares being paid up and non-assessable and the companies having no bond indebtedness or

are in a position to c on production and even to "pay moderate dividends, even during this period of reconstruction. ‘

Those engaged in the fox industry count conﬁdent- ly on a quick revival when the fur market resumes normal conditions. 5 p

The Fox Fur industry is now an international in- dustry, of which Prince Edward Island is the centre and pivot. Foxes worth j-marketing must be regis- tered in Prince Edward Island. Mr. E. R. Brow isl President of the P. E. I. ‘Fox Breeders’ Association, which has just issued the "second edition of its Pedigree Book.

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Anooon II l romplotod my Stunn- nruphlu Oonrll. I ha! tho cholco ol Inroo excellent positions. l ooloutod the one that loaned to nlnr t but chancel [or advancement nlul llkod tho work Iron: tho nun.

Wllhlu three mouths. III! color! Ill ndvnnood voluntarily nnll I continued In pronoun. Incoming Prlvnto Socra- tnry Io tho noolclent o! tho onrnpnny nllor about n your. I own much u! m! nuecou to tho excellent tulnlnl o! the hujhl mo hnnlnonn

_ 1hr! Ambitious. Efficiency Brl gs lhomotlon

Young eople s ould not fear that their nbll ty wlll not be recognized. Em layers urn quick to recognize thnns nun lues ln their employes w lch mulsol assistants valuable.

The neceon tor the work

nchool lhnt nolhodl .

nponslblllty and a pleasant readiness tn

so In the desired promotion. - Invest! ale our courses and the york hon]. This will show you why our ntudontn nro so successful. ‘ Perhaps Mary may rllo avon hlihm

The Union Corn- mercial College has placed hun-

in excellent posi- tions. ' _

I Write today for Prospectus an d full informatiomlt may mean a grefat deal to you.

Union _ Commercial College

Royal Bank Bldg. - Ch'town, P. E. I.

Wm. Moran

Principal

f , a iA Golden A Opportunity !

Vﬁrlly the man who falls tn Investigate tne Silver Fox Prince Edward Island is allowing a golden o

For thirty years the farmer of Prince Edward Island has mentallon with these valuable animal-s un-tll at the present tlm

ln 1921 these {armors received upwards to llve foxes and pelts. Many n funn proper ln operation iby this revenue.

Considering that the farmer of the Units llve foxes raised and sold us

a thorough lnveetlssllon by any person interested m making a

The main thing (or rho beginner m remember 19 m,“ to buy quality animals. This ls lrue with all branches of the llve be parllwlarly considered before buying silver {neg

Foxes bought from ms as breeder und are guaranteed highest quality.

_From a Wlld Animal Life to Thll. o! n Domesticated Ono."-

CHARLOTTETOWN,

or the $15,000,000 invested in the industry by the Island people 1t is conservatively estimated that $10,000,000 ill/as made up of proﬁts re-invested in the

over ﬂve hundred ranches most of those composed of pens bull-t behind the barns and m"! 78d 10 l llfloexlent on table scraps and meat which otherwise would be burlod

a million and a hull’ dollars for their ll’ on account of last year's bud crop was kept

d States is absorbing practically all the bwedm“ d9" ll Ml ﬂlllwar as if the business ls worthy of

stock business and hould

i“ .P°"'°" c" 5° slwﬁﬂlflll N’ Qomlnenclng With Inferior Foundation Stock.

s. are selected from llve ranches owned by me

ll interested call or write for our new daooklel "The Silver

“"65" S

_E‘VERY FOX A ‘TRUE PRODUCT 0F BUPERIORITY

Industry while visiting

Dlwfllllllliy to pass through his hands by not taking advantage o1 ‘the new em or the industry.

been eﬂlﬂlged ln experi- e there are ln operation

successful investment.

acnleve success he must

Fox-Its Evolution

P. E. l.

a y . . ls o! ﬂrot lmpbrtsnco. but Initiative, 11-,‘

‘dreds of graduates <