_,-

,__ _-..__._,

-Goa ldo0ur

1 = URNIIW £40100

I Hama.

DAILY FDUNDEII

nicer. inow rar_w1nrl%.rn uni' I

-- - .v

y-vu

ISLAND, CANADA, 'runs soar, Maxon 1, 19.6. {,,,§.,<;,¥'.§.#.'

nm "I

THE eSPI;E DID

_ V A

v_. Q

H-ik ' _ _.,,_-. '

. .__ ., ,,,

I GFI PR-it an is-LA

With the _Canadian noon of conncr,¢c,iorilnio---A strong combination---root snarcrioiocrs win Receive $193.50 for Eacii $100 _of Tlieir Stock, or a Premium of 93 1-2 ner ceiit---lhe Form of Agreement and Notice of Special General Meeting oiShareholders---.lhe

'!‘Iu- liii-rclriiuts iiank ofI’rincc Edward i~I.uul|uui just sent out to its share- ii-~|.h-i.-; ilie ilrnfc copy of the agreement into- sulnnittcd at thc special general

|:~i-tiling of thc ilaak on, the tenth

\,..-ii next, The agreement embodies the ini inns clauses to ho considered by the ni--.-1 ing, covering the arrirngeinent enter-

he of

|`onnncu:e. Perlraps the most interesting |-- il ure In connection with thc deal- iui.-ii-.<ii|rg at least to thc Bank’s Share- liiil-iiri-..-is the amount to he paid them by ilu- gun-aliasing Bank. This is set down in the agreement at the sum of six hun- iiii-li and seventy-eiglit thousand and

ilu- i-quivalent of one hundred and ninety-

.»ii uno hy the directors for the sale oft |luii.',~' Assets to llrc Canadian Bank

in i-nly»four dollars ($ii'i8,il2-i,00) which

|ini-i- dollars rind fifty cents ($iil.l,50 ) lin i-ai-lr one hundred dollars ofliierclran Ii ini: Stoclr.

ii iiius appears that the shareholders n il! ri-nlize lhe very handsome premium ni .r‘:.' 2/. on their investment and the ~ii.\i-i-imlriersiruvo every reason to feel tu ieiwlingly grateful to the latc prcsiilcnt, iiviiiirurin Hcariz, Esquire. for the splen-

iiiii progress made uudcr his able manage- na-ni, imd the sound basis upon which he li-ii ihis popular financial iustltutlcn,also in his capable successor, W. A, Weeks, Ii-quire, and thc able and rciiabledlrectors ;i, neil as to the cilicient and painstaking i.i».hicr, Mr. J. M. Davison, and his uitnpotcnt stuil‘. , 'lhe late L. L. Beer, Esq. who us vice- pii--lili-nt took a deep interest in the in~iit\\tion_an<l aided it very materially by his sound counsel and 'large business i-\pcricnci-.<lcsc1'ves honorable mention aniorig its ahlcst énpporters. 'i`lnrr. the llanlc of Commerce should maize such a liberal deal witir the share- iinliii-rs of lhe Merchants Bank is the In-;||i~.-it tribute to the eillciont and

-uii-ifssful nranncr in which its business

ini-, hiacn conducted and the confidence it luis si-cured in all quarters in which it it i\ ii,-id lliraneial transactions.

_\i.|ii;i:MieN'r made the day of .\ il one thousand nine hundred und six,

Between

'i`lii‘Il\iERClIANil‘S BANK OF PRINCE EINVARD ISLAND iiii-reiirafler called the Vendor) of the lim part and '|‘lli»l CANADIAN BANK OF COM- MERCE ilu-ri-iuaiter called thc Purclurser) of the xi-i-orirl part. \\'lrc-r-ons hy Section 323 of the Bank Act

_inri-iuiincrrt Act 1000. passed by the i'.nii=uuent of Canada, it is enacted that any hunk may sell the whole or any ,nn-iinri ofits assets toany other bank niiii-li may purchase such assets, and that ilu- .selling and purchasing banks may for :ou ii p_ur-poses enter' into an agrccment of

uto anil to all other statutes, laws ii powers applicable tour vested or to vested in tho parties hereto and each

and conditions hereinafter set out;

six, a copy of this aizreernent having bce

Vendor to his last known address a least four weeks previous to the date

of the time and place of holding su

tion carried by the votes of shareholder

subscribed capital stock ofthe Vendor;

l\'O\V 'l`lIIS AGREEMENT \\'lTNl<ISS- ETH:

1. The Vendor agrees to sell to th

Purchaser, and the Purchaser agrees t

kind- and- wheresoever situated wlri§l;,t.lr

cluding among all others (if any) thos shown by the books and records of th

ordinary course of business -by th Vendor prior to said date on which this purchase is io take effect, ami including also those which have been or shall be acquired by the Vendor between the making of sulrl examination in the month of February, one thousand nine hundred and six, and said date on which this pur- chase is to taka effect; the foregoing being hereinafter referred to as “the purchased premises."

2. Tire consideration for the purchased premises shall be:

(a) The sum of six hundred and

seventy eight thousand and twenty four dollars (il78,0'l-i) in cash;loss any deduc- tion which may be made under the provisions of paragraplriiof this agree- ment.

(b) The assumption by the Purchaser

of all the debts, liabilities, contracts and obligations ofthe Vendor (including notes issued and intended for circulation out-

‘_\!i~ and nurchiise;

standing and in circulation, and leasehold

meeting; And \Vll°l'°4\S 'W Slliih meetlllk this bills. notes and securities owned or helil

agreement was duly approved by resolu-

A l 'I .

ni n iereas pursuant to thosaid slat obligations) existing on the day this Act, and the necessary accounts n

“fl allurchasa taken efI`cct,inrludlng liabilities calculations between the part be in respect of any present or future hereundershallbe made as of that date.

V of actions, proceedings, claims or demands

tl\eu\.tl1e=aid iwtles have agreed upon ln connection with any matter or thin ~

the sale and purchase and upon the terms an d R’ (R)

i (c) The covenants of the Purchaser

And `\Vhcrea*1 this agreement of sale ` herein eont,ni|,¢d_

and purchase was duly submitted to tbe` 3 This Agreement is made by the shareholders of the Vendor at a Special Purchaser upon the basis of the Vend°,~',, G°“9l`N MSBUDZ ‘l\\I¥ Milled f°I‘ 01° Dllr- affairs being substantially as disclosed by wsu and held on the tenth day of April. its nook. nnii records submitted to ibi- A- D. one thousand nine hundred and Purchaser at the time of thc examination

11 thereofby the agents of the Purchaser-

duly mailed to each shareholder of thc in the mouth of February one tlrousnnd

t nine hundred and six.

Of It is understood that: the cash and

'IW Bald UIGENDE. Wilelher Wilhil “UNCH various assets of similar nature of the

Vendor have not heen actually' examined by the Purchaser, nor have the various

by tho Vendor been actually exhibited to

s and checked with the books and records

of the Vendor (present in person or by the Purchaser. If on such further ex- Y0i1l‘6S0|li»€i1 bl' Pl`0X.Y) l‘°Pl`9B°“i~InK not amlnation and checking over as the Pur- less tlnrrr two-tlrirds of the amount of the chaser may desire to rnaka, it :should ap'

pear that the actual assets at the time of said examination of the Venrlor‘s books

ll.

vrzrmon as roL1.ows: . To pay the said cash consideration.

(b) To assume, pay, discharge, perfor

and in circulation and leasehold o

lities in respect of any present future actions, proceedings, claims

and its ligpidator with respect to tl Vendors autos in -circulation.) -. _ -~

(cl

other officer of tho Vendor again

demands for or by reason of any ma

may hereafter he done or omitted be done in relation to the aiairs

To indemnify every Director an

allaciions, proceedings, claims an

ter or thing done or omitted, or which ‘

K, ,. 0|

g \

nd position of tho Vendor as disclosed ies by said books and records has up to

the present time been substantially

'mn runcnaszn co\'r:x1in~1's wrrn rar: maintained; and that hereafter. and

until the compleiioa of the sais and purchase hereby agreed on, the

nr Vendors business shall continue io be

and carry out all the debts, liabilities, so carried on in its usual and ordinary contracts and obligations of thi course, and so that the position of the Vendortineluding notes Issued and Vendor asit existed at the time of intended for circulation, outstanding said examination in February, one

i thousand nine hundred and six, shall

Kilt-lDllI~) existing on the day this pur- until the completion of the sale and chase takes eflectfluoludlug all 'llabl purchase hereby agreed on be

nor substantially preserved and main- o .

r tained

oeurands in connection with any mat- (fl) That no dividend cr distribution of ter or thing, and Including all stain piolit shall, pending the completion of tory requirements upon the Vendor the sale and purchase hereby agreed

ri- on, be declared or made by the Vendor

to its shareholders.

sd 8. .Tue Pxnrres nrrnnro nu1'u/ir.Lr, ‘A i:ovnnaN'r1iNn /ioar-:ic the one with the '__ gollrer as fcllows:--

‘ (al That they willrnake due application

no theGovernor-in~Council,tlrr~ough{the Minister of Finance and Receiver

General, for approval- of this agree-

Vendor owns or possesses or may be un- titled to on the day this purchase is to take effect as hereinafter mentioned, in-

and records made in February, one thou- sand nine hundred and six, fell short of

e the amount of assets shown by said books o and records, or if before the purchased

buy from the Vendor, all the real and premises are taken over hereunder by the personal properties, assets, rights, credits and clfects of the Vendor of Whatever otherwise than ia the ordinary course of

Purchaser the Vendor shall have parted

a business, with any of its assets, including those which existed at the time of sal examination in February, one thousang‘ nine hundred and six, and those acquired'

e and which shnllbs acquired by the Ven- e iicr between the making of thc said ex-

Vendor examined by or submitted to tho _aminatlon and the dateon which this pur- agents of the Purchaser in the month of chase is to take effect, then the said sum Febrirnry, one thousand nine hundred and of six hundred and seventy eight thous-

the Vendor, except in so far as any- i Buch action, proceeding, claim ori

- deruandshall bo in respect of o' wilful ,

partqlsuclt Director or other omoar, , or directly caused by the gross ncgligenccof snub Director or other "`oilIcer. -` ` " "` ,

i>uncaasca:- That all resolutions, by-laws and other proceedings of its Shareholders and Directors, and otherwise, shall be duly passed, enacted and taken as may be necessary in order that the Vendor may be duly authorized

tu)

or deliberate breach' of l.nxst_ on the '

7. 'me vsuuoacoviasanrs wrrn ms ,'

incut pursuant to iho terms of Th: Bank Act Amendment Act 1900. and shall afford all information vihich thi Minister of Finance and Receiver General requires in connection with sncbupplicaiion. in 'ruse they win respectively use allsuch proceedings and do all such acts and things as may be necessary from time toilme in order that tht’ temis of this agreement may be fully observed and carried out according to the true intent and meaning hereof. IN wi1'Nnss \vmnnEor~‘ this agreement

has _been duly exi-cated by lhe Vendor

six. except in an far as the same may have and and tweuty»four dollars ($078,024) been or shall be parted with in the shall be reduced by theamount of suchde-

e fleiency of assets, and the balance only

of this agreement.

lb)

and empowered to carry out the term

That after the completion of the sali-

shall be the cash consideration to be paid

to the Vendor. '

It is agreed, however, that inrespect of

assets which actually , existed when said examination was made by the Pur- chaser in February, one thousand nine hundred and six no deduction shall be made by reason of any alleged deficiency

in valuesu

4. The said cnsli consideration is to he

paid to tho Vendor on thejfexecation (e) by the Vendor of the requisite Deeds of conveyance and transfer to the Purchaser and delivery of possession of the purchas-

Deeds of conveyance and transfer shall be tendered for execution by the Purchaser to the Vendor without delay after this

purchase takes effect.

ii. ' This purclras shall take effect on

and frmn tho day upon which the irp- proval of the Governor-in-Council is given to this agreement, pursuant to the said \

sd premises to the Purchaser; and such `

and purchase' hereby agreed on

5 and Purchaser under their resileotive

Corporate Seals and the hands of their respective proper officers in that behalf, on the day and year first above written.

in the presence of

um Vendurshnil' Wm., an due des: SIGNED SEALED AND nl'-:l.lvEREDl

patch and without unreasonable delay wind up and liquidate its ailhirii, and shall cease to carry on business, gud shall take the necessary proceed- ings for the surrender of its Charter,

The Merchants Bank of Prince Fdward

Island. CuAar.or'rs'ro\vN. February 2<iih,l90il.

or other termination thereof, or shall To the' Shareholders of The Merchants

permit the same to expire by eiiluxi

of time.

Bank of Prince Edward Island:

Ne tiations for the sale of this Bank

That the books and records of the with one ofthe largest and most import- Vendor, examined on‘hehalf ofthe ant Banks of the Dominion havabeen

Purchaser in February, one thousan nina hundred and six, exhibit

carried on for some time, and I now have to Inform you that as a result your

substantially all the debts, liabilities, 'Directors have concluded an arrangement contracts, and obligations of the Iwitb THE CANADIAN BANK OF

Vendor as of the time of such examin-

COMMERCE for the sale of tha Assets

tiontanil that the Vendo\‘s business ‘and Goodwill of this Bank, upon the has since said examination made on terms set forth in tho agreement to that behalf of the Purchaser in February, end herewith enclosed. one- thousand nine hundred and six, Your Directors have taken this action been carried onin the ordinary and consequent on the views and wisheoof usual course as thoretorore, and the the Shareholders, almost unanimously

expredsed at tho: recent Annual Meeting held_ou the Ninth day of January last, instructing your Directors to make such sale and terms that could be regarded advantageous to them. .

Your Directors have been most careful

to obtain the best possible price, and are pleased to refer to the generous accept- anco of their offer on the part of the purchasing Bunk, thereby enabling your Directors to strongly recommend the acceptance on your part of the agreement, ‘believing it to ba in your host interests that the proposed sale be completed.

As you will nee bv the accompanying

notice, a meeting oi the Shareholders of the Bank iii called to take place ou the Tenth dly of April next, to consider and vote on this proposition; it is necessary in order to complete lhe agreement that Shareholders representing at least two thirds of the Capital of the Bank should either be present or represented by proxy at the meeting and vote in favor of a re- solution _accepting the said agreement.

A form of proxy is enclosed for your

signature in case you cannot attend the meeting personally, which please sign and return to the Bank promptly, as all proxies must be in the hands of the i

Very Able Local Management That Accomplished This Will Be Continued.

Cashier atleast one day previous io the meeting. ,

W. A. \Vl'}i'Il{S, President.

TIIE MERCII.-\N'l`S HANK Ol" I’Ii[NCi~I

Ei)\V.-\I`iD ISi.A.\'l`.

Notice is hereby given tirat a Special Generaiiileeting of ilre Slrareliclders of The Merchants Bank of Prince liiiunrii Island, will be held nt its lianlring liousc, Great George Street, in the (lily oi Char- lottetown, Prince i-Idwarfl isliiiui, on' Tuesday. the tenth day of April, illliii, at tire hour of cleven o'ciocl< in ihei to consider anil if thought lil, io of an agreement for the sale hy The Merchants Bank oi' l’r-incc Island, of the wlrulu oi' its nssicis lu 'i`Ii\: Canadian llanlr of tioinincri-e, on the ternrs set out in such -rgrei-iric-nt uhich will bcsubnrittcil to the said Sir-rrel|uldcr~ at said meeting.

By order of the Dircc-_nr.~,

J. Af. il.\\`|h`llN

Cashier of thc liiercliirntu ltinlr of

Prince l'Iii\vuril island.

February 2»ith, 1006.

urenoon, approve the isuiil i‘Iil\\'ar1l

f t .

THD MEKCHANTS

EDWARD

holders of 'rriz MERCHANTS BANK

Signed, Sealed and Delivered , ‘ inihcpreoeaceof

possible:

intentionally omitted. I

BANK or PRINCE

ISLAND.

.PFKCXY ______---

. . . . . . . being the holder of. _ . ..shares in the Capital Stool; of THE MERCHANTS BANK OF PRINCE EDWARD ISLAND, hcichy np. point and authorize W. A. Weeks, and Frank R. Hcariz, or either oi tlii-in, to vote for me and on my behalf at the special general meeting of the slnue

OF PRINCE EDWARD ISLANI),

to be held on Tuesday ih_e Tenth day of Aprii,i9o6, and at any adjournment thereof, due notice of which meeting and of the business to be tnrrs rated thereat I hereby acknowledge to have received.

_ WITNESSrnyhaadaod seal this......... . ) _-A »~

Ssieixal

dayof............ .........A.D,i9'J6. ‘~ff-“

l__,

This Proxy should be sent in and recorded -at the Bank ru; soon as

I ~_In our recent "write up" ofthe ariiaighmntion oi' those two Ilniiks, the

name ofthe late Owen Connolly, Esq., among former pursuit-nts was un-

nnt is BEFQRE. -

THE iEoisLAruRE

Oi New -Bru`nswick` to Prevent Sending Liquor inio Scott Aci Counties or Towns , Under

Penalties-Express Agents Punishabie

I-'|n;|»nr¢ii:roN, Pub. 28-(Special.-)'l-Iii lhe local legislature today Premier ’l‘\vui-die prssentol a bill in amendment oi lim liquor License Act. This was at the request of the Provin- i-inl 'i'emper-ance Federation.

ll- provides thot no licensed dealer shall

mul into any county, city, or town wlu-re the Canadian Temperance Act is in i--rec any consignments of liquor where there is reason to believe the eousigneo is in iiieliquor bdsiness. f ' N01' Hhallanyliquorbsseut into Boott /\<=t'Countlesihrough the _agency of any Pirates. company wan-sins liquor is to "0 ilaiil foioa delivery, I ' 4 _| V rnniiiiu, imiliilins inmiaunii or

licenses flnea not exceeding one i......u.i\ ilifiiu-n no pi-oviiiin. r|.iir§i~»` hr .lrmi oirrofvsf vm- vu-ai rio-lim iiinisto ii ni; for simian

. ,» -..,-..u»,.<-,-»

liquor O. 0; D. into Scott Acl counties.

This amendment is regarded as o

liquor into Scott Act counties is very considerable,

,__,_____----

EIBIIIII BUSY,

Ili SIIMIIES

...ic m may .mai iifimoon vrewlns estimates Io anticipation of the coming session.

These will he hrnnght_ down early and “mir mp me' rims. bury iinin rw.. rarit-

oi-iiwr, ren. as-iéiieellli-The Cel"-,

vnnn loin

Warburton vs. the King was heard in

Tho grounds of appeal are a

ing to current prices. John H. Moss.

ciullon of the arguments ludgluslrt was reserved and the oonrt adjourned until Thur-silay, lst March. _ 4

WIHIIIIIIIIIN . LUIS Ui Iliillii

iilil IHIM iiiilli

Lsouc, Alberta, Feb. 27-Next spring.

Orrawa, Feb. 2%.-The appeal ln twenty-four miles west of here,thore will

hs witneszed the beginning of awondcrful

the Supreme Court yesterday.1l. is the last g\;;:f;__|“£ t£g|:?::°::;=£°y’_ gzwmf ‘case on the marltinre province list. » his Bev", ¢,°wn5|,|pr_ will "mg in 3:1, The appellant 0\VI\Slf\DdH. ¢\ll¥il¢dl W he part ofAlherta very shortly, and eight

valuable for resiricntal purposes. on tha mugs nor", ,,n°¢,|,,|- (;,,\|e|,“»,¢°|°ny |,, in ‘Bam n-mit ni. Churlotu-town il’- E~I~>. no sinrteil at ine more tiinomiir intrin- ,part of which were taken compulsory for ¢0|,my wgllwwpy gm" u,wm,h|p,, The tht! M\\Il‘l\! H“\‘I>°" I-“`°“°I' °f lh° P' - E colonists have been well infomreil .as to

t Island llallway, and thereby Zdepreclateil, me d|m,,n|¢|e,, they Wm hue go gunning

and illrllliwtl life Ullifllfil W I"lV° bee" with, especially at the commencement,

mud’ Iml’°“'“"°° "5 "he G' 0' n‘5“I° °t caused to thc remainder of the property. ang 0( me ,ure News, which ‘wiring

In a suitin the Exchequer Court, Mr. than |¢ they persevcm ,nd an im1“3|,|-1. Justice Burhldizu allowed $2.012 Wm’ ous. Thclluvdin those two Galician col- interert of five l1¢l` °°“'-> f°\' "I‘° Ifmd onlesis saidwbe extremely fertile, and 8XD\‘°l>l‘i*\i“d» "NI 32-500 1°' “°m°l¢°5 “'m‘ the intending colonists are auger to begin

costs upon the issue as io compensation. ,orb , -

ur t boon --,i---

assensrnsnts are inadequate, and in view I

of the evidence ought to be materially increineii, .ry to $10,000 at least. uworfi-

, I - .

l'.oionoN,li'ob. Z7-Wiuthiltboownuthe ‘ -xi mo" I“3I‘“' M' b“‘ig°" "N" hnisxrmmgtun of“tb¢DL:lI’l'cii army Mr. Flelding’s injury will delay the |“.|n,",,_ q~},,“m,|"q",,,|,k Mn hu

purlgetiinii ina Tariff cmnniisoionn rn~ isa for soldiers on the much and ` ` the firhig line. Thr our

, on "°“` wr. ...plea from an niniini puma

».\i

,oiiioni is

iiuoiosoni

LoNpoN, Feb..B"l.-Some small `tir has been' raised in tha,Anglo~Canadian - frainr lnity by an article by - a Umatilla _loumalistnow visiting Englanihia the Pall Mall Gazette, alleging that the 'whole. Canadian public life and no lneonriderabie parlion of the husiuen life in permeated with corruption, and hu says the man who himself is honest fools that he must be ready to cope with hoodie at every turn.

Alarge section of the population are

incapable of being convinced that any man can hc no foolish as to run for alder man or member of parliament merely for his health. According an a member is ,successful and subservient he is rewarded with aooliectorahip, judgeship or other ovorument plum. He winds up with 'Thse has never yet hesna Federal pieulicr who has been free from suspicion ‘of pilrlonal enrlirnic-clit."

»I

appeared for the appellant. Hon. Solicitor I I , i Ind llllllnohurll. FM' mv" WN U0 General Lemieux for tho Crown. On con- exposed in trenches it will be a hloulng

providingawelronro change from cold

ratloné Un the march the soup boiler wlil simmer continuously, ready for the first lip halt, and or pint of boo! tea will

pup," b`o'ldrgNdtooacii soldier. The lids Is

,iuruiztbwarrl wholesome things. fo the ( uclu n of stimulants. I lt hldhhcen found that beef tea .goes for-that in strengthening soldiers for touts

I DEAD

Bosron, Feb. 28.-(Special)-.lohn .lenk~

ins aged lil, and Grace Adams aged li, were arrested in Cambridge laxit night.

They belong to Kentville, N.S., and

claim they were married in Wollrllle.

Jenkins had a iiitlelgmcery store which

he sold. The girl he very childish in

appearance.

ST. Plrraiisiiirno, Feb. W.-Some Inter eating statistics are just published ro- latiugw rooent operations of the Gov- ernment. During the month ending Feb- ruary 7,l7Fi newspapers were suspended, M editors arrested, the state of siege proclaimed in 02 places, minor state of llagointli. The number of peopielmm- raarily executed, not including the Mos- cow repressions, was 1,400; the uumbe of political arrest! la St. Pcternbur was 1,716, and in Russia proper 10,000. Temporary|priroua wan opened ln.~l'l towns: two thousand postal and tele-

foi warm than am or whlllvo

when employes won dismlwllv I-Ed ovu-

REV. NICIIOLSON

IN BOSTON

Was Professor in Queens and Born in P.E.IsIand --Very Youthful Couple from Nova Scotia

' Arrested Claim They Were Married

Rev. A. ll. Niclroiscu, forever si i|m\ri< 1' of a century n professor' :il i,> ii-cue. i'ni- versily, died this uroriiiixg ni par':\Iy,~i~a after' alnrosi a yi-ar's iIInc~‘=.

lie was lil years old and gm-ally bi-lnvi il

by the students. Mr. Nicholson was horn in l‘riiu o

l-lilwarii Island.

A widow and several r-hiiilrcn .suri-ii.

a score of workmen's cheap risiaunu-' i in St, Petersburg closed so as in \»i.-\i-..- the umemployed from obtaining ri-§i.~|. it is estimated that agrarian nuiinpis resulting from rnisgovcrnmcni, i-n\at..i aa actual destruction of propi-try uaiih $i(l,fll0,m0, one-sixth of \\'lrIclr ocvniiui in the provinces.

CHICAGO MARKETS

Oxloaoo, February es- ian.-.-...I \ ._

Corn, Deo., (iii Corn. .\l-it, in, Wheat “ slit uh... ~ 1-ig Pork, May, $15.37 .l’url., Jan., Lil-`v.'.‘.l