._._..._-_.r__ “Qvr-uwpa-w-uu.

PAGE EIGHT

4-, M9

i‘. u

< _ _ s _ - _ \ ‘\\ac'i€‘('n‘€ Efikianll a\\IL\‘C§\\§<s\<sx\\\‘\qq\§gq§a((1

When you shop at Rix‘s, 1i means. surperior THRIFT ::l l ~‘i])i'lilll' (,1 i/ITY in foods! '10 this we add the i . .1 ill ~.:\'i~l~ ilizil mikes silre you gel EXACTLY

l-ll _\.l.. l-ililii .\l iiit‘ ltlxs your slog-Pain for satisfac-

J

~ llvli

\\.‘i\ lit-ans. L’ tins »~ 21k (Jr-ape Juice 1 pt. hot 20c llrecii llihaiis, 2 tins — 23c Dales‘. ‘Jhilll- Heels. L’. tins 23c Raisins, bulk, 1-23 ltaisins. iable.- pkg. -- 23c Success Vanilla.

2 01.. Iioi., 2 for ~-

-<.‘L"Y

'l‘illli:l!ue.~:. - ‘.1 tins

t: Blilicc .\lc:li. 32 til.

f‘: lfiiitlc ~ ~ -- 23c Swims

h‘: 'l'ilnl:lio Juice. L! 1-2 '

2 tins - ~- - — 10c Fraulicrries.

U

‘Q .l.\\l_-\ll‘.\ GRANGER. uood size. 1 doz. -- -- - gi slcicilil-Jss (.R.\l’El"lll'l'I‘, i riu- _ _ - _ - - iIllPiiltlilt GRAPES, 2 lbs.

d Apples". ‘IIICIXIIIISII REDS.

Apples. .\IacII\"I‘(ISII REDS.

“e have a larue display of

:1 NITTS. Cll()(‘OI..-\TES_ fancy boxed and bulk. Fresh- ‘Ej l_v packed and reasonably priced.

U

RI X’$ l5 RD CE RY

LON GWORTH AVE. ~

LONGWORTH. I02l-l02'2

2.35.5.5

$11.“, f§7_‘til_l,ti.;, lid (I 3X5 OROCERY

Floul‘. pkg. —- -—

extra large. l doz. med. size_ 1 doz. -

CHRISTMAS CANDY.

aiaazlziaaaiaaazaanazziaizzaxzzlwiuéanxsiaaziiazzizlzasizixiasssssaaaz;=>ihh\=h!iu>u--—-

QUEEN s. UEEN ST.l60l'|602

Klkllecvrixfli-aifl-I-i-I £4. _

MORELL VILLAGE SCHOOL

fiiliior roll for November

B n- (lei . X-l. Waller Collin. 2. I _M.,,~v f{p,x.sl‘li‘i', :1. liiibcrl. Ccfiin. Jean MacAdam

(hadc lX-l. Lloyd Cox._ 2.A1cx's Robbins, ZlCatherine Kelly.

, Grade IV-1. Lois Cox, 2. Gerard Glade VIII-l. Evclvii Geldert. Afacinnis, 3. Pearl Hawbolt. Primarily depafllllent

Grade YII (A) -1. Harry Robbins. Jay andTeresa Rositcr lIKilhlYlC-S for the manufacture from ‘pulpwood oif a wide variety of l new materials, of which at the mo- linent artificial. silk is perhaps the

3. J-‘hn Zviavlniils.

2. John (lnudet. 3. Million-ms

'k R05-

5011115 (IF

Mortgage Sale

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ivl.i-.i~..-. ........ ..-...'i..._' ll..- plililitlll m. illi- iii .l..i...- \l. (TIHHIIIFII o! IiirlIi-ll ill Primi- (lilillll Iii I‘I'IIH‘I‘ Liilliiril |.|..i..l ,....i l,.i..i.. l’. |.\Il||\ of (‘Ililrlillli-liliill lilurl-uilill, lllr i-xlii-ll- llifQ in lhi- lliilfll‘ lluiui-il i-iiliili- prai- lh- i~<ili~i| for r i..i l..i-ih~ h...

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l iv ll ll u- in m»... , l diiwi-iiiiii unlit“ 1:." thl- iii-n ma" In loared most, frvourablv with re tilts - - niu-l-nl. (‘minty nroro-{rvhlnlvicd in the United States in

_III‘I"4I\III lnll-riutml In

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(Hid) II. L. PAIMIJR Judge n! Probate L-IITI-ll-Il-SB-II-l-I

IHHKIWLHII

‘Ivresa Coffin and Reginald MacAdam (equal) aylllifliil Giles Jay, 3. Beth Gcldert.

Grade V-1 Grace

y 80 rmcdial- deplrtillcnt 2. Grail‘ Vii-l. l-‘Im-rie Halvbolt rpqmn 3, Helen Coffin. 2_ Rial-caret. Kelly, 3. Jll Glade III iBl -l- Bobby McEwen. George Golder-t. 3. Athol Ding- lvrll. f-rnde 111 iCl -l. Ada Hawbcll. ; lion for export of increasing quan- f? Owen K011i’ will B41111’ MflCImil-‘i. titles of him-grade bleached sul- (tHclcn MacDonald and, \\'alti=i~ MacAdum. (Sri -1. Joan rsteelc. viii It!‘ Dllill h; Pllilllv .\\ll'| .... ill 2‘ Rob?“ Wmson and George Kenn Grade ll 1J1" -1- rt, 3. Jack Coffin. Glfldl‘ 1 no exams

n

1 oqua ll

~>

ill ILu-rlon O'Brien.

uilriliilui-e. 'l'i.i- Eastern

_ ‘SUBSCRIPTIONS w the Charlottetown Guardian may b9 harried to their R009 Afchie Hmne"

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l)‘. Iii illn iiiliil Province

.,¢ ,.|.....“ "fauna. fulfl-IIOIDII ol the Innu- l|i|\‘ i.. ~|.i-.. i»..ii..- =l ally they i-llii why lln ' ‘

IF pin-sell and the lilinlnte I'IH\I‘II ll“ IITII_\'4‘|I ("r .....i i... i..i.i'i... of w. H. lii-iiiliav. Whirl--

.\iui I ilii hen-by "fill? that l Qrlin torn-Ill! niibllnllrll In uiliu- III'I\'I|IIIIII‘I‘ plllilliilicll In (‘har- iiulelim II ilfnrrliiilil mm- in each work Illl‘ iii Il-ivit (our lriiiil Illl- lliill- Iii-rent nlil I'1III\' lion-of he Inrillivlili ITIVIIQII In the

(‘lillrl Hill '!‘!ml iliil’

lam.) n. 1.. mimm lrlI-lil-U-fi-i-Q-lll did .

THE CHARLOTTETOWN GUARDIAN

l Ganadafs Economic Achievements and Prospects tlicvicwod gBy lanllors

" Confidence in ‘Canadzfs

Capacity for Recovery

BANK OF NIONTREAUS 120th ANNUAL MEETING

Sir Charles Gordon Sees Continuance of Better Times if Dominion Not Unduly Affected by International Disturbances-Points to Strength Reflected in Financial Statement

An impressive record of strength and of expanding business in keeping

l “ilh the markoci improvement of trade and commerce throughout the

Dominion during the past year W88 presented at the 120th annual meet-

ing oi" the Bank of Montreal, held recently in Montreal.

The balance

sheet showed that for the year ending October 30 assets had increased

$24.500.000 t0 a total Oil $829,600,000;

public deposits $26,000,000 to a.

wtai of $681,000,000; current loans in Canada. 023200.000 to a. total ot $182,500,000. and net profits by $226,821 t0 a total of $3.408.328; while the readily available aswets amount tono less than 79.58% oit liabilities to

the pl. . Sir Cl7afie< Gordon. G. B E.. the president. declared that the state-

ment u as the strniest that had l been pfvfiflfllfid during the tenyra s , in \\'IlLCii he had been presld nt. I

adding that every contingency had been explcred and provided for. with i- vlnv to mflntainng the prsition ‘a long he_ld bv the ill- stitution iii the very fro"t rank of the biiilks of this continent.

BUSINLSS CONDITIONS IN CANADA

Filssing on to a revzciv c-f genera.

1 industry and commcr-i- in the D-- illlilllull dullhg tile year. the Pres-

ident said t“... taken on t.le vln.;.e business COHCIIIIOHS had L681’! much improved, and were a happy cen- llXoL Willi the CUIIdAIIOIIQ o. but two years ago, the one really serious set-back being in thcsc portions of the Prairie Provinces Where drought caused total or partial failure of the cmps. ‘Were Cati- ada as dependent as it formerly ivas upon tile cash return derived from the export of wheat." he so d.

"‘the flict that this year's crop of

that commodity fa‘l.s so far short o!’ the alerage would be calamitous.

1 As matters stand, however. this pal‘-

tial failure of our gieatmt cash crop is partly offset from the nat- ional stimdpoint by the higher price for this year's crop and by the fact that the general crops in every other part of Canada have been. on the whole. remarkably good. Also, perhaps even more im- portant i= the fact that Canada i‘. i. lam-n (icmonstlnting in the past year a remarkable resiliency in productive enterprise."

As ouc instance of the latter. he cited the marked increase in the discovery and production of gold in response to the world demand for the metal. continuing. he caid "The rapid pltgress that is being

made in every tor of mechanical ‘

operation and in _ie use o! all kinds of mailutactures of metal. combined with the demands caused the arillainent programmes of the larger nations. has centred at- tciltiiziiupoii Canada. as one of the leading producers of the most val- uable industrial nletals viz., nickel, zinc, copper‘. lead and aluminum. and other metals used in steel

U‘ '<

r‘ ' |allcys. Canada's response has been

such that with the exception of iroll this collntri" ls now the world's largeJ. exporter of base tncluls‘

"Than the ilflllollig programmes

ind which have been undertaken on 2. Lilla an unpiecedentcd scale by nations abroad have found Canada re- .sp0ii(i1ilg by large increases in the

export of lumber and other bulld- ing- products such as zisbestbs and psluu.

‘Similarly. the rise of large-scale

most spectacular. has found a re- sponse in Canada, in the produc-

phitc, the raw material of these new industries. The greatly in- creased demand for newsprint has been reflected in Canada in the pan year in record production and export of that commodity, which for years ‘has been the larg- est manufactured product in our cicpoit trade.

“It is this resiliency in industrial enterprise, so variously‘ expressed. that endows this country with so great u capacity for reculperatlon.

"Then there is the tourist trade, which provides a highly." imp. riant stimulus to domestic business."

CANADA'S IIIANUFACITWIES NOW IVORTII THREE BILLION

Sir Charles observed thui until recently Canada was regarded as a

,(30ililll‘_\‘ devoted almost’ anbrey to lviori: loilvcs of belief‘, agriculture, Today agriirzillure pru- l.'..ilii from each b. .

vided 3.3 laer cent of the exports, and other forms oi industry" the balance. Canada now employed 600,000 pzopir- ' 30.000 workslupsi. mills and inctci and the annual value oi its manufactured pIOdtICLS

lfliflllillillul to more t-hiln three bil-

licu (iOlllliS.

"The nerds and the intern-is oi‘ the 1: 12o [IOFLZOH of our poplvation vrhil-c le\'_i-1llircd is dir liv depen- cni upon those operatic ' he said. "murt be taken into cnnsideratvn b? tho c up n whom devo v s. the

administraton of the affairs of

E1\II‘I.OY'\l"‘.\~'"' (‘I "WI-i T4) ALI.- TIME RECORD

Turning to the oni|l‘.;_viila=iit sit- lrllilill, S11‘ Charles remarked lllat the ilpturn Wiiltll ocillrred a year ago had C0llliflli0tl at a rapidly accelerating rate. ‘In fa-ci." he said, "the level of the Dominion Bureau of statistics wige-ciii-iiing employ- mcnt, indcx on Octrber 1st last reachcrl practically the point at which it stood on the same date in i920. The phvslcnl volume of Dro- iiucliou is also almost up to the 15"") level.

The twonstructlon industry a'l over Iilp country. he said. had shown a considerable measure of recovery this year. hut it was still not by any means up to the i928- 1029 level.

Residential construction work had. Sir Charles said. been stim- "lair-d both bv a, greater use of the Dominion Hollslnc Act and by the "time. Improvement Plain. which latter. with the cn-nvwriwon of the banks. had dom- all that was ex- pected l0 brim: about gv-cafcr ao- tivitv in hundreds of centred tlirouwhout thi- country and com-

the some perird of time. GROWING FOREIGN TRADE

Sir Charles observed that the - eided iii-tteruieut in Canadian bu -

iltffli during the at in! Wu‘ due

tghitliilevlregival foreign

o a been growing owl bounds

For the first seven months of the present fiscal year, April to October inclusive, the total of this trade amounted to 01.103.000.000. with a. favourable balance- of $176,000,000. This total of trade sholved an in- crease of $199,000,000 as compared with the similar period of i036.

The latest fllibres available. he said. indicated that for the calendar year exports and import» would attain a total approaehiiia two billion dollars. of which some

2.000.000. or practirifh‘ one mil- lion dollars for every tvorkirg dav, would represent a balance filiollr- able to Canada, and necessary to her as a debtor country.

He noted. however. that until the next haivest there ivould be but comparatively small gxlvrts of grain. that export figures for metals would be affected if the

JACKSON DODDS

present lower prices continued, and that in regard to the eiopzlrt of newsprint to the United Slates the market outlook was not clear.

Commenting on the fact that no less than four-fifths of Canada's trade was with the United Kingdom and the United States. he observed that in the 12 months ended Sep- tember 30, Canada's trade with the United States was around sifis,0d0.- 000 greater than her trade with Great Britain, due to the tact that Canada buys more largely from the United State-s. For years trade with the latter C0\lXiii'_Y showed a heavy balance unfavourable to this country, thereby greatly complicat- ing exchange difficulties. For the i2 months mentioned. however. the balance, allowing for exports of E010 Wtfllllflg $107.000.000 showed a. balance favourable to Canada of about 324000.000.

The speaker fofowed with a re- ference to esent disturbed bus- iness cond tiohs in the United states. ' and uoted a New Yolk authority to tie effect that what the country most needed was a ret from the rcg-ramme of reform which had ecn pushed so rapidly in recent years.

(‘A ADPS LEADERSHIP IN INTE NATIONAL ECONOMIC (JO-OPERATION

Sir Charles observed with satis- faction that while such a large pio- portioli of Canada's irucio lavas with Great Britain and the Uniud States. neither our Gzherlimcilt nor our business men “.1112 neg est- ing opportunities to further trade with other countrzi».

"Oru newsprint producers, for GYQIITDlG," he remarked. "ii i build- ing up for tlicai-i-‘lics a posizltn of lnl.p;..'tiiiic,e ill a varioy of over- seas markets and are now sun ly eXliflfiliig their product to" or thirty countries. Within tlie past two years formal trade llrrililg-c- ments have bran ceilchizlvd by ihc (laverument with not less than fif- teen countries. and llvzotliltious are proceeding for rimilrir- trilr-"e cx- paiislon agreements with othrrs. "fI‘c:la_v, cumin claim,- tile (liftlliC- tion of being one of thr- fcv." CJllIl- tries in the world \-.'.i ii lhlflily no trade quotas, no rxchainzc res. tions and no cinblirgoes other than those associated with the liziIflC in arms. Ill the remedy for uor‘d-\v.di: civil and iliteruatioiliil hilllt! ha. iii intertiatlunal economic co-opcrll- tion as I believe it dcel. tiien Canada. I lihilik it can be said. is doing its full share in leadership

along that line," ltAlhW/iYS AND TAXATION

Reverting to conditions at ilome. Sir Charles observed tila‘. while the year had been one of great im- provement in trade and in enlpl :_':- meht mid in the finances of the central government, there were two fncliors which still drained much too large a proportion oi t-hc country's nattouai income into un- productive channels,

The first was what he termed the most uneconomic situation which existed in regard to the rail- ways. and the second the heat’ and overlapping taxation whic- burdened every form of blhltiflFd entcgirlse and which as Rilpilllfi to indi duals meant, that few people had any surplus funds to invest in new ente rises,

“The re urn on investment in the Canadian railway .." Sir Charles said. "remains entirely inadequate and get the coon‘ mic waldo realit- l"! OI! the compctetivs- operation of the flltl0ll'a two great railways Systems hm oontininlcl unabated It ll to be particularly regretted that the town‘!!! of the country should he burdened with unnecess- uv cutie Oct limp loom

i‘; a SIR CHARLES GORDON. (LIL a_t_a. time when general taxation

for unemployment relief and other essential Government services is a0

heavy and economy in W51” 9*‘ pend ture vitally necessaiv.

Sir Charles believed. NW9"! that there was accumiulatinl evi- deuce of a more widespread under- standlnr that a sound solution of the railway problem was r tilled to create confidence in the 0W"!

"nus isia hopeful feature." he said. "for with understanding of the serious complications of the present situation should come d8- terlnination to put into effect th-ise remedial measures which are nec- essaigv and indeed in the long Hm inevltaife."

REVENUE AND TAXATION

W tr. r rd to LRXIUOH. (he Presidenteggld it was hlEhlll 9"- cnllrflging to note that. dwPite the drain of the national railways on the country’ revenue, the 0061:!- meut in our national finances ‘ti: been such that. Tleasufv °m° l‘ now hoped that a balanced budfleg might be consummated at the en of the IITPSEIIt fiscal Y6"-

‘Thin’; ‘he said. Sta?‘ zggbefi-

nrd w l c l it’, ‘D e ' rvlvient set itself when it took office two years ago. anal better progreéfi has been mode than the anest- sanguine then (lured to anticipate.

decrease‘ in taxtition: it certainly will be reflected m the strerlfllhen‘ trig of the 211N339 credit structure ofIillhiiOggllixdl-lgifl his remarks. Bil‘ Charles, while not attempting a. forecast on the Canadian busine=$ outlook. expressed hi1 wnfldw“ in Canada's "remarkable 050110

gm- mqovery," which, if mt. 833%’ ,3 unduly by international - turbimoes. would. he felt. m6"! I continuance of the better time? which Cllhfldlflfls had experieiw

during the post- Y9"-

Goniidence Expressed

In Future of Alberto

"Observers at a distance are apt to misjudge Alberta and its cit- ‘Zens by m; preeelll; state of affairs there." said Jackson Dodds. Ken‘ eral manager of the Bank of Mon; treal, lat thtem institutions recen lmhua mee i;-

"It, is," he continued. "one o! the‘ most. richly endowed Dim/mi: h“ in the mldst of its vast aetu re- sources there has qeen in some gis- tricts virtual destltuiion and es- pair. Efforts _made t0 00m Wm‘ such a situation .011 P)?“ u?“ are necessarily 519W "1 "fww noticeable results. and distl‘ people fall easy prev l0 010m B" of quick relief from their thou 1e.

"In the case of Alberta, hem" the disorganized sound mHiJOYIW °1 electors realized it. the Pwvmm w“ conlmitted to a quixotic adventure.

"The cost of that EIWBT-menh as it has been called. cannot be calculated in terms of money alone’. and it is not unlikely that the chic", sufferers will be the very T190019 promised to 1101p. It ill to be hoped that there mflv be a wmwriswflfl gain in the lesson to be learned by those who would wrerk_ the climb; iishcd order oi’ things, imffierfff! though it mav be it has .._en ".5113; "éjegllilllgifis of constructive e o u uii- '

"Oru confidence in the ultimate return of normal conditions in Al- berta cannot be better expressed than bv saving that we have en- deavoured to continue doing bus- iness as usual at our branche= in that province. where we have thousands of valued cu. n.

Banker Discusses Factors Contributing to B ette r Days ln Great Britain

Speaking of his visit this year t0 Orrin. Bflvdlll, an" Charles uoluon, iii liltitilftkxililg lsank o1 lvfiinircai hi1fife‘.l0i.(.‘I‘5 at their recent annual illceling, said that busmes in the Ulllhiu kingdom nus unuuzitneuly in a healthy condition, with great- er iuululrial activity and more pcowe engaged in gainful occu- patom tilali at any time in its llkstory’.