USE Guardian Want Ads Phone 3632l I Agents Wanted I riiGiir7sr.t:osiniissioN r ID to l.t(Il9I who want to sell Dur;ild:1ia cusnirtiis. Experience not lll"'P.x- '3. Full or part time b11s.s Hiuii 1l illiistrtitetl ratato- gue ltnraldiiia Cosmetics Com- pain liitlfl iieloriinzer Dept. 2. Mniii: '1, Apartments Wanted H'AN'I'l-iii-T1) RENT .' .I. (m, KERRLI, iietitett ;1p.i:'mer.t by (.1rn1i.e in 1! months .7 beiweeii 8 a iii. and 3 Boarders Accommodated ' H .xiSi1i'ii.1ri1iNCi:on .uai.i1: liwirrlers, s.n;:lc beds. 25 IIills- 11.11.. 'ca'rs &"TTicIis”Foi"siiiI1i' 19511 iroti(;i;'coA('ii Hiit.x"1i.i-' - np R;-111.1 . Heater (",0 ,1 ,r.1;. i ' 11:: (wort T es l'litii'.e 1 I 1 so 1 5 6 -H33 II” II' CAR BUYERSI I 1 11- uttrr you l1:1ve that new t';il' 1'111Iw1'1'i-;1lvtI l)Lllli)l'U )'Ull lgikii tliillxttliy. I 5I('l..-XINIC LTD. llizil T.'I.3fs'-E) 0 ) 1 . L. Miscellaneous I.-ILl5(.”I'It0Ll'X uixauzii - siT- ;,TEq'-p7;'1T:”uT1.-Tmqigigbl iiey J. Jeffrey Phtiiie 7038. Auction Sale FRIDAY NITE Dec. It) at 8 o'clock 12.3 Kent Street Clicsterfield suite, beds. dressers, iiiirrors, tables. F1'aiiklyii stove. e I e e t 1' i r heater, ('llaIl's'. rcfrigei'ator, household articles, etc. :.A.IStlA cletiiiiiig en- retriger2itoi'. solid oak din- New lloover senilile, .Xx'tr;1l china L'tiI)IllClv lug Iillllt', etc. J. J. .lIIiS'IlARIl. Aticiioiicer. C MahiEeiI;E”SE1iiiie”'i 'In 11. 11.111 1.1- ,.11i.11.- 1.1.1.1111 in I111111 (ii 111- 1..111 IlI'1iiIK i11111111nr 111 111-.11-tum mun 1.11 111.-s11..1 1111- 21-1 (I111 111 in-11-.11 n1-1- will at Ilia: 1m111- 111 it-1-tie irrtock 'n11..n -11.1. mm 11.-1.1. 1lll'(P 111- part-rl nt IIIILI hing anti being on Tuwnslrp Rum her 'tmit-.-1mv.- huuiidcd and tlesciibed at follows: on the north by the rear hmindarv lini- III l.iIiiis lititiliiiy: till the neifli side (if . 1111111 Itoad. 1111 111r (xix, :.v tuc iniiindarx Altilpcqttv Ittl. I For Sale g FOR -A11: - I.UttjE SPA (1 i: ,11-vi,-1-,&t1111e '5-1-I tfaidigaii. rot: lmois iroif. 1 s ze -l. 6906. .ii1tl sktites. .t at-1c llowther, 'W() H()I.STl'ZlN .'ced::1g. Phone i7?i?' Tulip I-'liR EpWI.i'i-”4li.N'rIll '1-oiirai-ii.u 1 :3 inns, 339.30. r'...,, 1 limit 2 1517111 BREE!)-I tjeoigc Aftlerk. l:F(lFrllJI3 1-'-tilt G I. 1-1; 1'n-1- For: sf1i.i7Z"cititi Pllte amt Var. 256 l.Q1lPP:i Street l).'-I 45-I4. ion s.-11.1-1 - iioi.i.'s si.i:11;it and rainnge. Good rniidiiinii W1 ie lln: Si. (lriaidiaii Oifzre FCTR .- RAx(;i:'r -I 1 qm-' .w:1r1:'1uii. lteasoiialile. Dial 3lll' I-itlR &xl.i I ().VI'2A i'1it2V1Tt7iTi7. rlur in ,'irs'i1ri1. Keith t'i1rI:i1urvv. RWE , 1. FOR ,N'U.lI -- IRON I)l'KF. S'l'0Vl'I. ttlilfl ' 111' ,-ip at 48 i-.-uit I E11111-.2 I SAIJP -I. ' . 7141 hard rrixeirrl .11-alto" I (hit Guide ttnitnrm, s Kc, I3. llitvitie P4-T13. FUR 5.-KLIC - I FARM STORAV-H .. 1.11. l liiiriiiational Bl; H. P. (leo. ,i-1111-1111111 of Jricniiah " Tm" . . I I -11.1: .. GIRLS wiini. ,,”,",f,,, lhi?IRHAI;- ' 1.11:1 of iamiu now 111- ft7i'illPlIy in the oc- voilins and Hector 1'.11i1c1n1i, on the south In the T1-yon Road and by 1111- 11-.11 mm 1.1: 11111111 i1m11111g on the West Ilwer and on the next hv the sitlc IIHPV til lattiia ntiw Ill' lately in the riisriiptltturi of 'Ihnuitis Ix't1'kliam and tlwen 111-L.i:111.111 111.11 1.1- iiitilungaliun oi the Vtralftn im11n1l;1:,v (it (turn nicuuil- iaim mniainiiig M-tcnix-nnc miss (I A little more or less but accord mg to a recent 511111-v mi 1-. I) cos. i. 9. contains Eiglity-eight acres of land I little ilI0i'l' nr less, being the land describ- ed in it deed from lVilIlim Cilndlll, Rt) ht-it llunuwuitli and Ileniy Jone! tun- dall to lislcr Ilriiise tlzitcd the third dd) oi May it, I) Ill? Ltlirr 5 Folio 715. The abme sale I! to he made under and by virtue of ilie nriwers of sale con- tained in certain lndcntures of Mortgage front firiirfoii .'tI('Ix'.'iig of New Haven. Lot Tliiriy-one. farmer as .'nlIowl:- 11; A 11.1.11g.11vr- tlaletl 13111 Fehrillry M16 in Klargiiiel A. lit-i.emi as- s-cnml nv the said lltainai-rt A 1i1i,1-1.11 In .-11---.:.ndr.1 51-011 In .r1t.11m111u11 om-11 11111 Sept. miner 1:121: A Ilccrl nf i-mihcr (iharge to Alex awlia Scott tlaled IIOIII Mai 1'11". ) A xioiicage in Alexandra Scott dated Isl April 1948: 44) A xi.111;;:1g.- to Alexandra sroti rlairtl .'ItIlII May I932: -1-1:111: 11.111111; 111-1-11 111;-do 111 11:11.11:-111 nf the mini-1;1a1 siimv and ininui --1-111-mi m- the said Mrirtgages anti lleed 47! M11 um tlHII'i:e itur 11111111-r na11.1-11'a1-- apply In '11.- Lend and iii-nttm-. hnticiinrs. Charlotte- 1.11111 Iialcri this ldili (lav of N111-eiiiher l9.'i4 W l', RI-2.'V"I.lTY I1'.I)I'liII It (iI.UIlx' iiu-1-11i11r and I'xe1t1ti1v at w'1li of the not Alexandra Scull, deer-av-d. Male Help Wanted I it-in If-7 ua N" i5()'iTs'1'"i':-.a'i'i'i tiavel aiming iiiiisiiiiiers lll Kings Couiitv and CIl'tI'lOl.l.El0WII. Per- manent coiiiicetioii with Iaize manuiaciui-er, (')i1ly reliable hust- ler considered. Write Rawlr-1g11's Dept. I.-470-131. Moixtreal, P. Q WANTED H . potinds eapnrttv it'll . W . M. - Nil 'lt'lI1 PKIOII 'IC ! I-:1Ti:V5.xi.i-.-ii.-asi-;Ht ILVHR. '1). WORKER ll. Fiiiiiwctle. Sol rlialiis .' -1- I1111 lilllix. All gnarl rniirlitioii, , , tzn-.111.1111i l(rli,x. R1111,-111-:1. Position open for one man -FOR s.-11.1-; - 1 STEER. i"iii:in:i1 Wllh C-Vi)0W”l(jl' 1”. IRIIICYQII :11 treshrli 2:1 .11111r-. 1 e1l.', 1 row. work. Apply 111 writing giv- lltl l.. , ;i11'.Ir's 5 iiio1itl1s.s':1:':1i1;,v mg full pa1v1j(-11131-5' 10; lien Macheod. 'i')l'lllyIf)il. Wilt SALII -- 7!. I954 ('lll'IYR()I.F.'l” :.ner- Ctiiiplelte 11-.ili e.tl1c1 ee or Intti: spent fmiisiiiissioiis on these iziiiiziiies 3.000, itd P1211 t.:liiililIllN'1'I Pitrr .S3tltir'1Il pr: 11:.1t cnnipiete. Basil R. tlniimiiiiltl I.ftl,. llil North Pinvrist S'rret, New t;lasgnw., N S I RFemiaIe(iHelii Wantcii wa VT!-TD 4 i:.v Pt-tnii-:1R'('i-:ii'Er;i-iii'.i 1 I I I Ink 111 vinrcry Store Box, ' "tlinii .s:1i.i:s 1..-1111 w'.1.Vri;uWFo R slimv c-11... i-xiizi gill iieetled for tll:i'1-lti1i- iitxh. Writn P. ().l Riiv I47 1 Lost LOST --7 NIVIAIJ. BI.A('K Pl'RSI'I. rrintainiiiiz twol keys. please itniifn: (i:1a1'd:an. LOST - I'.Uit i-.1. (;o.V'i'.-1i.V1”'r. whitn wnvlwii : 11f. iipinwii. Ilr-I war-ii Phone -1 l.f)S1'-nliV(lW.V BALLET (ON- twining tiililrllilfl paper: and small riiiniitiiy of mono). Plirinv Still rnllv-rt. Ilmvai-ii. l.05T-RIC!) H'AI1I.ls)T ('().VT.-IIN-3 ltiiz inoney and i'N'ripts. Finilei phrinn .'1TlTi. Pmwarrl. L03 -- ONE PAIR NEW RICH- lwr -Iii-hes, sire II, at I-'niuin. inside. Fintlcr please dial 11:1 nu- fifllfi. ' I 1i1;ee111111eu1s A uto Lee. M Eri- lt loan on your car can be arrang- rrl riiiiekly and privately at Tram- Cararla Credit Corporation, Each lmin tip to Sl,.'ifl0 Is life insured in mm" take (are of unpaid balance inl case of death. A coiirienus Trans-I. ,,- . , W.'t1V1"l'l'2l) - A (iARA(jl'I FOR Canada Credit counsellor view: you privately. TRANS-CANADA CORFN. CREDIT LIMIT!-'.I) inter-p Corporattoa. mi.) I It I'. DALEI. I Block Bldg. INA Kent St. 'ciminuetown. riiono em I! M -, -w - -- """ """1waa1'r.ir C (ZlllLl)RE.V'.ii ItI'IRSON.V ICI. .VIANAGlCR. Charlott etown, P. IC.I. MARITIME CENTRAL AIRWAYS WANTED EXPERIENCED FABRIC WORKER Opening for one man with experience in aircraft work. Finder Apply in writinu, giving full I65 Queen si. particulars of cxpe1'ienee, to: i'i:1RS()1VNi-Ii. .llANA(;lCR, Charlottetmvii, II. E. I. MARITIME CENTRAL AIRWAYS To Let I 'rnWi,iv:1' '- 11211111 CCC... 'ro-i.'i-:15-' .2 noon, AVPARVTCMENT. "l”l0l0'l- Puke & NICIIOIJOH iiiai 211d floor, Adults. Dial 5470. I Wanted room. Write Box 50. Guardian. wax'i1-:ii7r'0-ifr:7xi' i-i1i'('sAr:'tiit I apartment. Phonc(l9(i-1. 11:aivi7i-zii-:1 :11” SIN(-ER saw- ing marhiiie in good condition trading. in second day. gpjilr” E50 W 7 Aggy , uh ,, Montreal: Indllstrials and papers C-----.....- ,,.- WANTED .. ARGEST s17 TRl- oft. - cycle. girls skates, size '13. boys --cmm-mom Gram, "skates. siz:-1 Phone 5093 Canadian Douaf WINNWEG Cm g Prices (my wA,V'1'l-:1) - V0 5 OF y ' V tplaycd a fairly steady tune in French DDOIS. Write ”G" care VNEW XORK (CPI-'Ihe (.aiia- iiiiideratcly active trading Thurs- Gunrdlaii dinii tlulla: was 1-32 of a cent. d:y on the Winnipeg gram C T” ”T""'4”C”"'C4" '4CA'"" " If VT 4" W C EIHKF. 10 I NOTICE Danny Farquharson will be hauling cream from .NIacDonald's Corner, Glenfinnaii, Mt. Ryan as far as Brazil's Bridge. Route starting Dev. 13 every Monday ticcordiiig to 1'02-1(Is. If not iiasstilile first (lay fit. Signed, IIAZELBROOK DAIRYING COMPANY, Rena Wood. Secretary. BUSINESS FOR Silt I lllC'l'.tll. II.tIlI”lXY.XIIIrI S'I'()llI-I A9 A GOING CONCERN IN 'l'III'j Tt)IVN OI” SL')lMI:IRSIl)I'.I. I 'ii)11,; i111-111:-ss has been in nperaiion for ove!8 years and Is ideal- llas a turnover of approxiniate,ly 350,000.00 I) located on Water 5li'l'Cl. aniiuni, This 11:11 desiring to get into husiiicss for liiiiiscif. ;1r1' I Apply at Office of W. CHESTER S. MMDONALD. Barrister. I Stininierside, P. E. I. , ATTENTION FARMERS Railroad Wliarf, Sunimersidc. P. E. I. CROSSMAN & BRADSHAW LTD. Albany, P. I11. I. PROPERTY FOR SALE 1 We are authorized by the Executors of the Estate of the late Edward A. Gamble to offer for sale at 0l.500, a tract of 65 acres at Murray River, Lot 64, which had previous- ly been ownedby Mrs. Pearl Bears. The property had been selected by the late Mr. Gamble for residential use, chiefly on ac- count of its situation and excellent view of the surrounding country. 1 McLEOD & BENTLEY AT COMMERCIAL CROSS I am instructed by Edward Farquharson. Commercial Cross. to sell by public auction on his premises at Com- niereial Cross, on Weriiiesday, Dec. 15, at 1:30 p.m., the following: STOCK: 2 horses. 4 milch cows, 3 calves, 8 sheep and I registered boar. MACHINERY: Massey-Ilzirris hinder, hay mower, hay rake, tcani wagon, cart and wheels, scuftlcr, potato sprayer, express wagon. rubber wheels, bob-sleigli, lroox-sleigli, cream can and 200 bus. of oats. ' terms of Sale-All sunis tip to flll0.0(l-Cash, that amount five months' credit on approved joint Discount of five per cent allowed for cash. If day stormy, first fine day. Over note. I C. II. NICLSON. Auctioneer. , ” PR RI oriiiisiisitiioitiFCTRTSS” BARRISTERS, SOLICITORS, Etc. new 'tna::::':::'n;9gi09Ie' I Chas. R. McQunid. B.A. r Inc Richmond St. mu gmi OPTOMETRISTS G. F. Hutcheson ? Son rr. (1. HUTCFIESON. 13.0. 5.7 Grafton Sf. Dig: 3332 J. A. Carrufhers, R.0. J. Elmer Blanchard. ILA. Phone I".'l'! l.l..B. I Brink of Commerce Bldg. tiiiiiit-T111"-iHsz11"T1i h7a I 1 Bank of Commerce Bldg. L3 Kim st DI" 5." 1 - T . m? Byron J. Grant 0.1). l.10AlEII:IorrI'on:LSl.Gl"ls. I';llrilIBl.7l71”. K:.L:LWb . D''' .”.L' 11. Walthan Gaudct. l.L.B. ,111....1....;., ' " ""' R'0f .1, ., Phillips Bldg. ill Grafton St J7-S7IlnyIor, R.0. Corner Kent E Queen 51., office am; Home HM "Ccimornacron Dr. W. R. Carson Palmer & Hasiam Bank of Nova culia Bldg. nu Grafton street Teaciiers Wanted I 111:1: iv.a's""re;nti-'o'iz7sii?f-1 lot: I)fl).1I'll1If'IlI of York Sclinnl foi halazire 0' silinol year. Louis Vesrev, Se:1'rtar1 . wanted winter iiioiitlir. Phone MR9. vvasinii-'-'ai.r:' nor:i1fiTs,"i'i.viis or quartz. Dial 8595 Michaer Bros 1 (. "mm." M .,.m,,,,, I1-"u,."l(-ft).Ill'ltl-;Fl.SA'()llW a.ViiCir'i.oVo'a,I .lar'1.s for lair-ly. garage needed immed- Phone 0881. lifhnmi mi - am Sol Prince 5!. Dbl M32 ARCHITECT G. KEITH PICKARD. J. A. lllactiulgan. B.A.. Currie Bldg. - D1.-10424 - Queen St . ll. 1;. .iia1e1ui1i11n, 15..-1.. i.i,.n.i' tan niciimond st. mini a'.''.':tI 3. Arch. 3f.B.A.i.(1. mm lsummernlrle. i'.E.l. Dial 215.; Ma('.Phe1i 8 Trainer Charlottetown. by appointment in Queen st. Dial 0231 trial ms. CHARTERED ACCOUNTANTS McDONALD. CURRIE it 00. Charlottetown '"Cii."it.'D'(i'a'iiii'a1'Ct')i1iirX1v I mi Great George st. Charlottetown Currie mrlg. Dial I130 P. 0. B0! 247 skates and limit-. tip In sun .'i. Chrrlnilefown I-Zxiliiinge Sign 93 Rlchniontl St. Dial 5669. ARTHUR J. GARREPT Palmer Electric Building 100 Fitzroy Street Chariot! etown Dial 5321 New York: Market lower; sclloff is all miixtaiidtiig npporiiiiiity for snineniic with limited cap- Marltets 'l'1irunto: Moderate sell-off; quiet liiglicr at a iiiciiiium of 1! 9-32 per ccni. in terms of U. S. funds Thurs- day. Pound sterling down 3-16 of a cent at 02.78 I5-I6. Good export demand appeared in barley, wiili trade 1-epm-15 saymg thice cargoes. about '1'00.0(lll bu- SIICII. weie sold to the United Kingdom, Rye business with West Germany was reported, with one cargo in. volved. Ovcriiight export loadings of Ca. ii'adi1'i.n wheat included: lxrngtioiii 22U.0ll0 bushelsi Gcrmaiiy 364,000: Austria 120.000; The Neth. Fltlallds 365.000; and Belgiuiii 115,- 000. lI.akcl1cat'l prices for the top Kr:-idcs of class two, IWA and do- iiiestic wheat icniaiiied tiiicliangcd domestic No. l durums dropped one-eighth cent. Closing prices: Oats: Dec. I1 higher fl6',z: May I15-N higher 35: Jly I2 higher BIN. which Barley: Dec. 1". higher 1.12m; M.-.y 7': higher 1.16-In-'Vr; Jly lb Ioivcr l,l0a. Rye: Dec. 7. higher l.l6"4b: May l'a-711 higher I 21-lab; Jly 1-Va liigherl l.20'z, , Flax: Dec. 33”; higher 3 007545 May 4-3r"'4 higher 3.05-3.05',4; Jly 3'!) higher 3.0011. Prices for class two wheat for pnxport to countries outside IIVA; I Nor. L70. 2 l.6.'i, 3 l.63, 4 1.60; :1 durum 2.70, 2 2.68, 3 2.67. IWA lpriccs: l Nor. L70, 2 1.65, 3 1.63. 4 L60. 1 durum I.9Sl7, 2 1.97, 3 !x' I) United I from Wednesday except. IWA and N fl-I3 11 TI10 GIIIXCIIII F1-idly. December 10. 1954 dustrlala lhowed a mixed pattern. Beverages were narrowly stronger. other sections of the indusmgi market. fluctuated in 11 fractional range. Mines were narrowly mixed. no. real advanced 15 cent: while an. Icon was down 15 cents Home Oil gained 25 cents in an otherwise featureless western all section, MONTREAL (Cl-'i--Closing quotations: an . . . . .. . 1515 Noranda Price llo pr Q Pwr no 1-111 51 Law Cp BERNARD LOCKWOOD Maritime L President. suranre Coiiipaiiy. oral Maiiagershlp of the Marlil .0. . y W. J. LOGIE ife Announces Executive Changes Retlrenient of Mr. Bernard Lockwood, F.A.A.. A.I.A., A,s,A,, ,1. General Manager of the Maritime Life Assurance Company, and 111,. appointment of Mr. W. J. Logle, F.F.A.. A.S.A., to succeed lilm in the Gcneral Managership. were announced yesterday by W. it. C. Schwartz. me Life. 1937. In 1940 he enlisted p Mr. Logic comes to the Maritime Life, Assurance Company fr1.;1, Ixingstoti. Ontario, u here he was Chief Actuary of the Empire Life In. He resigned his position there to accept the Gen- Bnrn at Glasgow, Scotland, Mr. Logle was educated at St. Ru. and Norton College. Oxford, and holds a degree of Bachelor of AHK ' from that University After graduating he joined the Scottish Amtr- able Life Insurance Society in 1 . . , El pirld l'Var as it gunner and saw service with the British Army in ii is. retirinit In .19-16 as Staff Captain. Aniirable for It period of two years. ed the Lmpire Life and was appointed their Actuary. in the last He then rejoined Scotiim In 1948 he came to Canada, join. Il.9ti. Domestic prices: 1 Nor. 1.70; ll 1.6.3; 3 1.63, 4 1.60, I durum, Paying top market price. for Sebago seed delivered I 308'1- 2 2-W 3 2-05' Produce MONTREAL (CPI-Federal de- Dartiilsill of agriculture quotations: Eggs: I-lrce cases, extra large 38; I large 37; medium 32: small 30; B 30: (f 2.1. Itcreipts: 358 cases. 1, Butler: Wlinlesale BI-5I"4l cur- irenl. receipts Que. 60'i: first grade creaiiiery print job p.ice 62-03. Re- ceipts: Nil. Cheese: bred lIt)'4l Ontario, while 30, cal- f.o.b. factory; Quebec white 2914, colored 30; f.o,b. Moti- lreal; wlinlcsale Ont. white 3l'4; colored 311,2; wholesale Quebec white .'I0"i, colored 31. Receipts: Nil. 1Poiato prices able 1 Ne; -V0.10” I-Stocks atorlt I I I I avail- were not NEW )'t')RK. tAPi- The market declined 'Ilht1rsda;1,- for the secoiid coiisectiiive session, but it 111d so in a moderate way. Tliei-e was, liowevrr. roiiszdci-able resist- ance to the fall throughout. the day. 1 In motors and steel Chrysler wa.s' up 1-4 and Republic steel up 2t Oils were down, with the exception of the volatile Amerada Petroleuiii! which shot aliead I2 1-2 points at 216 1-2. Distillers were higher wii.hI SCIIFIIIPY up 1 1-1 and Hiram Walk- er up 1. I The Associated Press average of' 60 stozlts dropped back H0 at SI-19.50. Volume amounted to 3,300,000 shares. Allegliany Coi'p.. which controls New York Central, was at the top of the most, active list off 1-8 at '1' 3-4 on 82,900 shares, and it was followed by the railroad itself off I-2 at 29. Aiming slorks losing grounds were Genet-alMotu1-5. United Aircraft. Radio Corp. Amcrlcaii Tclephoiie. Consolidated Natural Gas. Wesl- ern Union, Unloii Carbide, D11 Pout. Wcstinrzliotise Electric, Atlantic Coast Line. Santa Fe. Baltimore and Ohio, Standard Oil NJ. Royal Dutch Petrolciim, Cities Service. Pan American World Ali-ways. Jnliiis-Manvillc. Georgia Pacific Plxwond and imiiglas Aircraft. Stocks gaining included National Distillers. Howe sound. Graham Paige. Boston and Maine. Northern Pacific and Western Air Lines. Among Canadian stocks, Moln- fyre gained 3 points. Dome Mines and Distillers Sczigram each 1-ta, .lntci'national Nickel lost 1 3-8 and Canadian Pacific was down 3-ii. On the American cxcliaiigc. Roy- alite Oil lost 1-3. What stocks did: Thur Wad Advances 370 494 Declines 533 520 i'nciia11ged 3:11) 240 Total issues 1242 1254 mr:hr.i;'mxltinK tf Pl - r.1.n.1i'11;. riiioiei-wi Fur; Wlrner (Vivi! Ffdivin Fl Auto I. (Jen Iiilrir (ien Itlriiuru (if, N i:1- pf Kenna-entt Mnigmiv W NY (ii-riirai Nadia Cnrp Std nll NJ ll Aircraft l Montreal Stocks 1 1 MONTREAL (CPI--Prices ii-i'e,:ul11rl,v lower at the close of active trading on the stock mziikri Tliursd.1y. lnte1'n:1tio1i11i Nickel and Alum- inium cach slipped 1 1-2 points and Atlas Steel was off a point. St. Lawrcme Corporation lost -ll points while. hair-point losses were shown by General Dynamits and Famous Players. Abltlbl moved off 4!. and CPR was '.'1 easier. Minnesota and Ontario and Is- bestos each advanced 2 points and Seagrams was 5,3 better. Canadian Breweries and Canadian Ceianese each firmed '1'. Senior WEN metals and stem inst strength while 1n.scellai1co11s in- R3m"'. . aw Mr. Logic is married and has two children. He and his fsmiiv Rural ... .. 4115 are Pxilected In Halifax the end of January. ' f.A?;.:'?IA-'t H . MN r Lockwood. who has been associated with the .VIi-iritlnie Lita mm M or;if'iCr;1eo1:l tEi1i1';iJ'M3y'ea1rssl, lgtlierfsillaiefxileaneral Msp'ager,Pre;'i(ries from this -- -.-.-.-. I 1 ' n as in ice rc ent anti Di- rector. Toronto SIOCIO be 315.1 apd Mu, Igtllcklgifiod are presently on ii world cruise and will re rnn ear :1 . TORONTO (GP) - The stock 8 y "ch market sold off quietly Thursday em-1 grade, after five stiaiglit. sessions of gains. Fifi-ads,-I Gunmrr Come. Am 1:3 (RtEiI'i3'n All International Nickel led base :iC0ii. Consolidated Deiiisoii' and 1'” Ankmn N m N M91515 down With 3 51-50 dT0P- Easter Metals were lower 'Bath- rig Aifllullrm. Mtlnl-yre countered the down- 111-at Mming cloud mHd' 13 1,2 is Argus is: 19 ii ward trend in golds with a 3l.50Icent,s. Wlllroy gained 18 cents M” '”""'"" "It ” " climb to 570. Pato climbed 45 cents sail-11 smir lllgl! Low i:I-in fits iii and Preston East Dome touched 3"” "mt GI 17 17 17 1..-1.:-7 Allin nut 1 7 7E mo. .'.i?.?tt:1... 2.: 2: 7900 as in 1 Low-priced mine: were less i1c- .mo1hi-n11 so an so I'll”; 2::i,:q". 2;, five in the seliaff and the day's -"”lMl-rm 121.5 12 im 7t100Aviliabnna 14 13 1.1 volume was 3,951,000 lliares, about 33 m l;;"” ,g-; ,:,g Hi; monitor 51 A 59-: sari no l,-t00.000 fewer than Wednesday. mo Am aepiic to: me too 'm E:;?,"' 1;; 1;; ,;;” Lorado was unchanged on the day ,3 Qgiursx 090 800 890 aooo Banklleid '4 61'. its otter bouncing sharply to 53.70 in 55.... A,,:,f,?,l' "23 "f". ”,'',i Conunugd on pagg 15 Consumer Expenditures have Sustained the Economy in I954 Whom: the prfnc pruonl difficulties E.vIrm'is from address by the Prerirlenl of the Provincial Brink of Canada, Mr. I. E. Labelle, 0.B.E., Q.(.'., at the 54th General Meeting of Shareholder: in Montreal on Decembe (E.11i;itl;i has again ciiioycil, duriiigl I'15-1, a Iiigli lei el of busiiiess arli-I viiy. Accordiiig to our last avail;-ililc statistics, the value of the gross initrniial production this year will reach approxiniately the same hgurc as in 1')F.l, which means a total of Jll)()lII R2-1.35fl,t)00,lI(I(I, with no inairl-ed change in the price. index. limplnynient which. until the hcginning of this Fall. had been lower than last year would now seem satisfactory suite in ()ctnhc1' of this year it rrarlierl :1 higher level than in October I053. Ilue In higher hourly rates, labour inronie is slightly exceeding the total of last year but at the sniiie time we must not overlook the fact that farm income has suffered I severe rut. Year of Tra Iillon lloweier. it must he noted that the year W54 -- anal this H a very sigriiliraiii fact - has brouglit an iiiicriiipiinii to the postwar C)1ll.1lI- sum of the tfaiiarliaii economy. 'I'hi: lei clliiig off of the croiimiiv iiiraiis iii f.irt flint ciiiployiiieiit does not ltccp pace with the grtiwtli of the labour force. So much so, that the number of jobless increased in October I05-I by comparison with 1953 from 21731 to .I.3','li of the tntal labour force. wliirli means a run of lIl,00tl in 170,000 11111-111- pluyetl. Moreover. it must he imtcil - and this is not sliown in thcsc data. - that the iitiniher of people u'0rliIiIK less than full time has also Ipul cause of our r 9th, 1954. for the iiiiiimliaic future let .iis aiialyse. hriefly the cluutgcs which toolt place in the Laiiadiaii economy. The Wheat Prolrlein At present, one of the principal causes of our tlifl-iculties stems from our ciioriiioiis unsold stock of wheat. Basically this problem is not a new one for if we look back several years we shall find that it tlevclnpetl through the wheat policy which was followed after the first World War. Nine years after World War II, Canada is still facing the same problem of excess wheat which she had nine years after the first World War and for the samc reason, the devastated countries of Europe resuming their iiormal production. These unsold stocks of wheat accounted for more than if. nf the decline in value of our total exports during the first ten months of I954. This situation, besides reflecting itself iiiinicdiatcly Ill farm income, ob- viously entails 2 series of conse- quences for the ccoiioiiiy. Sliffcr International Competition It tiiust also be noted that our exports have decreased in other fields, through stiller international coiiipetitioii. First. we have had to struggle iiitaimt increased tenden- :fIrK inwards proleciiniiism iii lfnitetl States. At the same time it is beconiuig increasingly difficult for Caiiatlian products to compete in the other markets because of high incrciised. In order to profit from pint cxperieltcrs and he prepared I954, I Ricard Your for the Bank t Iulvlraris of address by the Vice-President and General Manager of The Provincial Boyer. nl Ilia 54th (lo-nern in Montreal. rm Deer-nilrer 9th, 1954. The fiiiaurial statements which were piiblislied last niriiitli and are being siihtnitterl to you tn-day. show clearly that our Hank has olitaiucd. iltiriiiir the List Iiscal iierintl, bctfcr irsiiItstl1.i1iiiia11yprevioiisyear and that it luix matte i'CIil2lfI'(a1IIlP pru- giess during the past ten years. In November I044, mir total assets barely rraclicd 3i l2,t)00.000 while at at tlrtnher .Ilsl last, they stood at &24l,.Il2.88l. thir total deposits. which were Qtl4,'I90.S2l'I iii Nnveiiiher I053 had increased to S2.l2,0l 5.833 on October Jlst last. a very substantial improve- ment of Q7,0ZS.JOS. iiotviitlistandiug the fact that tiovcriiment deposits are low or by about two iiud I half niilliniis All loam, other than mortgage loans, day to (lay loans and call loans to brokers and band dealers. which went from 33,890,435 to 3I0.770,ol0, have increased by more than ten and a half millions, ie. from S80,b2I,I.'I7 to Wi.4.ltt,F4t1. Varliaiuciii. at its last xruioii. au- i,linrizcrI the Banks to make rcrtain loam of this type. to promote con- structiini of new houses. (hir ermi- nutnieiits for these loans. after only a few montlis. are close to 5800000 production Crisis. Nine years after the second Ilnrlrl War, the recon- Rnnk oLCanrrrIa, Mr. I. U. 1 Meeting nl Shareholders and will soon reach a million dollars. Our investments amount to 387.- 7-f2,9.Il as compared with 574,049.- 73.l tor the previous year. an increase of N.l,(19.l,I98. Uur rash assets stood at 96.766,- 0-fl as compared with 350,557,727 the prrvious year. Before crmipleting this analysis of our assets, I would like to comment briefly on their liquidity. Our cash assets. as at the end of October. ainouiiierl to 3-f6,7t)6,94I or 200779 of all our liabilities to the public. Total quick assets reached the total of 3I4S.280.482, or 62.3670 of all public liabilities. The above two per- centages compare favourably with those for the previous year. which were respectively 23,6579 and b.' StI'"r. Set operating profits. after appro- priations to contingency reserves. increased fror1iSl.063,l4l to SL263.- til I. The amounts set aside for federal income tax and deprecilion on bank premise! were &385,000 and 323-1..ltl4 1-ecpcctivclv. as compared 111111 3.15.1005 and 313.1141 for 111: prev-iniis year. A sum cif5il00.000l1as Rizal" this year hccn paid into the Staff Pension Fund Society. thus structioii of the devastated countries has now progressed sufhcicntly to enable these countries to enter as serious competitors in world mar- kets. They are now getting new equipment, have an ever increasing population and are paying wages definitely lower than ours. There- fore, we must face this coiiipetiiion at a moment when our price structure influenced by the succes- sive inflationary pressures which have followed the Korean war, prevents us even from retaining our doincsiic market. The best cxaiiiple of this situation might be illustrated by the textile crisis. For these various reasons, our exports during the 6rst nine months of this year have decreased Ivy S274,000,fltl0 compared with Ilie exports nf the same period in the previous year. Consumer Expenditures Although the Canadian economy as may be seen. experienced sever: difficulties. it is important to note that 1054 remains one of the most successful of the postwar years. It would seem that this success was mostly due to the high level of consumer expenditures. In Canada personal expenditures on consumers" goods and services account for 80”o of the total national iiicrmic. He may, therefore, iiiirlcrstaiitl why even a relatively small increase in consumer spending may offset :1 decrease in the other components. of the gross national expenditure. ,' The present trend of events shows that our ecoiioiriy being sub- ject to the imccrtaiiitics of the export trade, Canatli.i11s must en- deavour to rcnrler it uioret autonomous. It is :1 tough and at the same time a complex job but u e are in pnsscssioii of trciiiciidom natural resource! and this slinultl help to carry it through. tiaiiadiaiie. have proved in the past that they are energetic people am! that they are not afraid of assuming heavy risks. For lhll present task, they must accept immediate sacrihces if they want more stability niitl greater welfare in the long r1111. Tliry must have conhdciicc iii the future of their country and not hesitate through their savings to fristrr the development of their own iiiitiative. Tire future belongs to those who L-nmv how to Cope with it. tributinns by the Bank since 1047. After all the abme appropriations and after payments of the divirlciulx and bonus, a balance of 0154,30? was carried forward, against 94.345 in l9S.l. The total amount nf uiidivided prnfitv now stands at 51.34.6151. From I047 to I033 iiirltisirc, divi- dends paid in Sliarclioldcrs were at the rate of 70! per share. As profits were iiicrcauiigly higher these last few years. the Board considered the time had conic to increase this rate and you were no doubt pleased to find that a total of 746 was distri- buted in I954 If we take ininarcotiiit the fact Ihat the fiscal period covered niily eleven months, this is art iii- crcase of more than lS'7n. While on this subject, I may uiciition that dividends for I944 were at the rate of Si. vihile dividends and bonus for the last fiscal period amount to 8751 per annum. I would like to emphasize at this point that if the results of the year may. to a large extent, be aitriliuted tn the general prosperity of our country. they certainly have two inqdc possible only because nf tlir unfailing devotion and very (mi- scieii must work of our stall. I would like to take this oppor- tuniiy, nn behllf of all nicinbcrs of our stud. to convey to the Board of Directors our heartfelt gratitude. To our Shareholders. I want in cxprcw our sincere thanks for their griml- will and very valuable auisianrr Let us hope that, as a result of out united endeavours. we -hall find. :1 year from now. that further nrugrrsw I llfitiitinx I0 9400.000 the total of con- has been made again by the Ilanlt. Tiii: PROVINCIAL Baiiit or caiiiiiiii