A tn the growlns lllt 0i Fgnturgd “Eugene that have already pgpm‘ due; jreme Angina‘ “HOG med ' hostllieswfl! "l!" ' uJtaey 51,. yesterday of thrB taut: 612;,- iiax Driving .. m... mm", ‘h, u a member l; Mr a Mn- Jean of the Victoria Driving Club, Jack Ooyle. 5°“ o ' sue“ - the big inter-province meet gets ' ooy e o} ljwfimm - underway totals giernecn with seven d classes sch . ltlhethaevgewlflawr J But although‘ the paoers‘ ‘i: real h that he Possessed. an ther at had not by what should be a 9 th Dri Gdlflgnietyluof the glib-l! for the chem lonshi the a l wort stake should allow tlle b est in- " o 11811" m d h terest, nevertheless the o er six tilltles broken out. wolf.‘ g: classes that are on the card should » c one of the 111w I be equally as interesting. Included $2;- players. ' ‘ in the visiting entries are such well ' ~ known performers as Noontime. As s member o! Hi 1H1"!!! mld~ San Ton. rrevious, and Calumet ‘gt team but! in m5 J"! fill‘ Duds, who are well known to local ‘mud to hit tlle hockey headlines. gum molly graduating to Junior "n" Today's racing which takes place ll one oi tlilgmJhurllsiozwgoygymg gankghe east sldg oi the l-Iillsbororlazgl qua; - r e e un erwe. a sharp . . y g y. had the reputation . g 3 y n; being one of the smartest centre c, generals aver to perform with Lgglsqllldl. . . . in t Saint Dims- “Etching-sit; facko also held the mtlight when performing with football and hockey teams oi that institution. All the time he platylcd m; ame for all it was worth- at code, and his romotion to Offlcerdwhelrotlaa sampled“: e ange . lustmsngtliller tribute ‘to hlrn. Md so with these few brief yprdg we attempt in s small way m salute tlle passing of a great guy’. 1n his athletic contests, despl most of the time giving away ad- ygntages in the matter oi weight ind stature he was never known to take a backward step and anyone ‘m; knew him knows full well that qnen his final summons cams-in he would have wanted it th with the With both teams hav their strongest lineups ready for t e fray No. 2 .N.S. and Collegian; meet at the Forum tonight in the o n- ing game of the City Hockey a- gue semi-finals, a best two out of three series that will determine the squad that will oppose the Sum- merside team in the best three out oi five final series. n amo the fans as to the outcome of on ht'l encounter was fioretty evenly virled yester- day. tLh squads have seen show- in recent gameswln their play and it appears as if the breaks might ultimately ,decide he issue. Fans are asked to note that the game tonight will not get under- bethis change in the i , d th llgolluAilmNavitlatiolg an!!! *1" in . but slit oi mgr’: semi-final series way until 0.15 all "all" “l: tnldei ‘toirnu i: m1“ a owa anspenyo e {$,§“§,,c'§,§“£,$?.’§f”§nd“}.%m p?” which to take in the encounter. mcounters between the two squads WHOM"! l! u"! m“ 1mm p], _ g numbers of the Air Force team, err-l» a r?»- "$iu.°s‘i1‘°‘l“§'i' cue...“- _ a s e e o . Vi“ W“ in.“ "’ Goal, Cormier m; defence, alley (I). (SP forwards, Inberge (o), De (s), iv. Kelly (a), Miller G), Horsburgh (ll). Ashley (10), Webb , better with "y; anee ‘pf late“ mnmmci gillrcgothsemmlb ‘this cm), Win ate m. v. Kelly m, Mm aquuebflum v, prove“, (l3), Hunter (l4), Kovack (l5). ‘win’ u, m, n.1,," m,‘ Sub-goalie, Skinner. full who, have been following th "elmmrfl- d nlsueusrn WIIEII to of un use and Ol t: hsveplgattled it out the wq and clirirlltaxed their a A - IyTllOanlIianPrIla hour, four an hour better Nfllnflon’ than the Canadian redhead mark Sports-loving Canadians cannow Wink! look forward to a comparatively Ifull schedule oi athletic events next summer, it was intimated recently when it was learned that the Nat- ional Selective Service not only h both squads at the peak oi their form cnihe eve of enter- iht Phyofls the strict ll W0 proves oi wartime ports activi- file before shelld be ll I994 el, but thinks they should be, en- ll w! lli NW” oouraged. years. e e a ' ' ._ ' Fears of stgprts curtsilments, now Md the y; _ m, Cgllggjgng‘ ‘looming in e United States, were tug’ hem“ ‘wnetnnd m“? Efiefifi." ‘ilrlfsmmrirsetfrllfi lectiva e " ‘m’ d°'°"““ ° a ° Service Director Arthur uecmnr- ‘ a, f l th i s. ..:.'...:'.'.“,..._.:._:i::.l.:'r"" " "The Canadian peo le need rec- lilelr efforts are all the more reation, even in war ime." he de- Mworthy also when it is clarsd "and sports can help pro- into consideration that two of vlde recreation." them, Robertson and Blanchard are ' ' ' still eligible for the juvenile ranks and with Nicolle. the league leader lust out of the juveniles by the matter oi’ a fey morlths. not during the ‘league schedule. Horse racing, for enelthlng, h the full approval oi Selective Ser- vice sccordlng to MacNamara. As a wort, he said, racing does not interfere with ‘the w.“ effort. He pointed out that men em- loyed at race are "cer- l ainly not nt for military service" and in many cases such work is taken on during holidays from other jobs. The '“ ‘ ? has‘ been over- of races lante only twi- from war come, he sa d, by s at. several asks. With the visiting horses bedded down in their stalls, a big orowd oi Nova Scotisn horsemen on hand. "emhlhs was in readiness last hlsht for the opening today oi the inter-province ice racing meet b.- tveen the entries from Halifax. Dartmouth and the local Victoria Br n: Club which will be raced ever the course on the cast side of the Hiileberough Bridge.‘ light racing "Throughout the war." MacNam- urn said, “people have sumrested that the government go out and spend "fIlIllOYW of dollars providing The meet will conclude on Wed- nesday with another day's racing Ind interest among horse follow- recreation facilities vn ous_ If! has been at d high pitch for towns and cities across the coun- l past several days. Two cham- try. . . . “In-thins are scheduled on the card tween trotters and pacers which m "beefed to furnish the stlfiest gt competition in each and every eat. but notwithstanding the oth- Ir classes also should provide the honest of racing. ____ RED CROSS BINGO SPORTlTNHG CLUB , TUESDAY, MARSH 6, It 8.45; ' Y _ 0U FILL THE Hoglsg} HOUSE WILL PAY "it would be foolish," he con- tinued. "to close up existing recre- ation centres like race parks while People are calling for more facil- ties." 1 as Pluzns taoo EACH s PRIZES $10.00 EACH z rluzss moo sscu ADMISSION 50¢ __________j_. \ (ROCEEDS IN AID OF RED CROSS" ,~ . . ~ BINDING SPOR ii Intter-Prooincial Racing . Meet Gets Underway‘ Here This Afternoon ' “between Waltor Brown, ole l?! town meet Summerside lanai Following are the classes for to- y's card: Inter-Province Ollllllplohlhlp P106 Walter Brown, Dartmouth Club- . n] Elli! Olllb. mm” a ‘flier?’ Charlgttotown b. min... s. mo. nasty-s First, Flly- r5135’: “$81-$91; racy m1. Jane r, an on. as f. ‘1=".‘°’..l‘“' “mm”- ' . evo . walks ePace: Scottie Budlonz. Calumet Duds. Bediord Grail!“- Clas D. Pace: Dr, Budlong, Miss Marjorie Hal. Marjorle- Budlong, Bud the Tram?» Class I. Pace: FY1110 Hll. Evtlyfl Worthy, Princess Kalmuck, Peter. Grattan. 5131i; cualguoflsw Tlllitlliii .“ TWO‘ iilllLS '“ and a SAlLilIl" With VAN JOHNSON JUNE ALLYSON g GLORIA DeHAVEN JOSE ITURBI JIMMY DURANTE _ GRACIE ALLEN - LENA HORNE ‘ HARRY JAMES l §OUBIS THUR. I M. sonmscuu ssruapsy ms and ms P. M. Collegians Meet- No. 2 A. N. S. Team Tonight In Semi-Final Encounter ' Dartmouth Wins E. A. S. Bhampiopship HALIFAX. March l — (U?) - Dnrtmouth R.C.A.F. won the Easir em s1;- command hockey champ- ionship tonight b defeating Mone- ton R.C.A.F. 5-1 rl a sudden death mam}; for the title. The fighting Moncton Club tried hard. but couldn't match the studded Dartmouth segregation- Moncton entered the finals by de- Summerside. while the Bay, Newfoundland, in the semi- finals. Nliilgets In Sudden Death (lame Tonight Canadians of Charlotte- W148 death game for the Island Miflet tie it was announced last night. S L Little is known oi the strength of the Bummersid team but they ‘are reputedl said to be a strong .outfit. Ton the first time since l Island nrirket title has been play- ed for and Sumlmerside fans are looking ibr a. red-hot struggle all the way. Coach of tlle Caleadierls is Fred Bradley with Bill Bevins as man- ager. Jack McCourt. president oi the Oanldiens Club is also sched- uled to make the trl to the west- ern metropolis, leav ng by plane this evening. The train leaves here at 3:30 and all players are aired to make it a point be st railway station sharp on time. Pictou Stays In a lllunning By a4 Victory . ‘IRUEO. N.8.. March 5 — (CP) —Pictou Refitters stayed in the running for Nova Scotlab A-P-C senior hockey leaylie title tonight by defeating New Glasgow gamb- ers 8-4; the Pictou victory evens the bost-of-fivu series at two games each. Veteran Pete Kelly, who s rked the Bombers in ee games, mances tonight scoring two goals and collected one assist. but Pictou kept the rest oi the New Glasgow club tied u , New Glasgow scored tlle first ggal oi the match midway through e first period. but Plctou came back with two markers to finish out front bv a 2-1 score. In the second session the Bomb- ers took a 3-2 edge on goals by Mackle and Kelly. but Hepburn and McDonald flashed the light for Plctou and the period rnded with the Reiitters leading 4- 1s scored in the first five minutes. Williams, who had a §i’.‘&‘.‘3.’.i."°.. .it‘ “l” ti“ "5' e s a_, en ma e it 7-3 for Piotgu. p v Hancock then scored for New Glasgow and Ladds ended the scor- ing by punching in Plotou’s eighth ADMISSION 2S Dartmouth Cluub eliminated Tor u YEO THEATRE "TWO GIRLS AND A SAILOR" It's one of tho best musicals of this or any other season. Hair-a- doalen stars bring lt to excitinl screen life under the superb direc- tion of Richard ‘Dnorpe and the just as superb production by Jos- eph Pasternak. Here are van Johnson, June Al- ria De Haven, fast on uleir way to stardml. as the sailor and the_two girls he myster- iously befriends by setting up an entire servicemena _ ior them and. what is more, falling in love first with one and then with the other. . The picture brings Jknmy ants hack to the screen. and that is great news indeed! Jimmy, the “ hnozz" lf, ls in rare form as he portrays a reureq xx-vaude- villiar: who has lost confidence in i been away," as the saying goes. really puts on a show, lnoluoirlg his celebrated “Inks. Dinka. D00." Then there are Lena Horne. one of the top closers oi the day: ig'Alle!l. whose One Filmer noerto will bring howls oi inla Ofrien. the doe-d- pan singer; Jose I urbl. who plays ' there. WN guglgoyau ,ei. n...l.;; please Experts ‘Played. In lied ;To Make Better Brass Bonspiel {Timt This Week By HAROLD CLAASBEN Cross benefit bongaieli (Associated Press Sport Write) at the Charlottotown Curling lub, NEW YORK, Mar h 5—-iAP) '- is dra close. lsh ace who wing to s Six matches Gunder Hamil,‘ swe played last night and the finished last a five-man race program may wind up with two‘ Saturday. said today he would run more games today. .the mile again this week-end and llbllowiitg are the results of last that he hoped he could out at least ' S “m,” plgy; eoonds of his 4:31 board floor . . . 1s: Qcl. o. snldeb t- 55.5,? mndm“ "u could have lowered my time an. McLaine, 1a Cobb 1 , 7,5, , , by about eight second last Satur- Olrkr, l4; All. McPherson,‘ day night but I saw that I was 5_,' . aten and there was no need to ‘ Dr. W, MacDonald, l4; H. Atkin- rlsk possible injury. I'll make no m" g {prediction on how -I will ccme out pinup aansen, 1o; I-LR. Carru- the next time," he said flu-ouch an 7' ' 1 n n mtrlmlrlewr Eldrlr ‘mfiffiien k . .8. Gidd B. i t - M l! 3“- ! '59" ' firs; s, m‘ lng Stockholm a rt writer who won the 60-yard hig hurdle exhibition Saturday night, said that both he and Haigg were in need oi rest wor . Moncion ‘Juveniles SAINT JOHN. N. B.. March 5- -Monctorl’s juvenile hockey was declared winner of their serieawlth Springhlll because proof of the ages of two S ringhill play- ers had not been su mitted before a deadline set ior such submission. Judge J. Elliott Hudson. president of e ‘ ateur Hockey Association, said in a statement here today. Moncton was declared eligible to play Saint John Royals for the New Brunswick title and right to play cfl with the Prince Edward Island champions. j Proof that the Springhlll players were within the age limit arrived, an hour and fortv minutes after the deadline, said Judge Elliott. but Moncton insisted on enforce- ment oi. the M. A. I-LA. ruling. Sorlnghill won the series with Monoton by one goal. Intermediate a Playoffs To Begin Tonight ounced yrfiitfdfly by Vice- It was |Walter Lawlor, Provincial president of the M. A. H. the Summerside Crystals would ay the first ame of a home and llloorle series with the Borden Nat- s moan piano. and 'larry emes and Xavier Ougat and their orch- estra-‘nuff said! ' "Two Girls and a Sailor" is roc- onimended for everyone, big and little, young and old It is enter- tainment with a QflPit-ll T" 310m start t0 finish. Sport Briefs (OP) - Saint John Rodney Corps Sea. Cadets won the New Bruns- wick midget hockey title tonight and advanced to the Maritime pmydowns by blanking Hackville Hawks 2-0 n s, "sudden death’ game. NEW YORK, March 5 — (CW- Barbara Ann Scot/t. Minto Skating Club star from 0t- tawa, tonight. won the North Am- erican women‘s figure skating championship in Madison “ re Garden. Ol-HCAGO, March 5 — (OP) — Chicago Cubs announced today they had re-sold infielder Glen (Rip) Russell to the Los Angeles club in the Pacific Coast Baseball Leagua after it was learned he was reluctant to leave the west coast to join the Cubs this spring. BOSTON, March Ulysses John (Tons) baseman for Phlla elphia National league baseball club, was sworn in today as a member of the United States Navy. BOSTON, March 5—Glls Mell, 3i. Montreal, employed his ower- ul right in effective fash on to oulld up a unanimous decision over Benny Singleton, l3 .Wate bury, Conn.. the New England "ightwelght titlist, in a’l0-l'ollnd eature boxing bout tonight before a 4,398 crowd at the Arena. PITTSBURGH, March 5-A crowd of nearly 2.000 in the Garden to- night saw wild-swinging Cliff Bec- kett. 152. Toronto. flatten Lou Schartz, 150. Columbus. in 1:58 of the first round of a scheduled eight-round bout. JACKSONVILLE, Fla, March 4 — (AP) - Sam Snead, the belting pro from Virginia, slammed out a six under par 66. for o 266 total today to annex the ‘Ii-hole $5.000 Jracksonvllle open golf champion- s Itwyas his sixth victory of the winter clrrrt and enriched his earnings by $1.000. ‘NEW vonx. March 4 - (or) — Gretchen Merrill, l0, oi Chest- nut l-Iill. Mass. representing the 3kliin8 Club of Boston, won the lfniaed States lladilefi‘ senior figure rm ng (Imsnp inst i at Iceland mill: w “ml; Bedeque Rink, Wednesday, March? . FIRST or TWO-GAME TOTAL-GOAL snares son" ma. - P.E.l. JUNIOR HOCKEY CHAMPIONSHIP MONCTON BRUINS New Brunswick Champions, VI.‘ FREETOWN ROUGHRIDERS Prince Edward Island Champions and 35 CENTS for the tlhir It" ht We five iudgcs ds ig r. All gill. lsoed her first on their car . ‘ MARITIME CHAMPIONSHIP GAME SAINT JOHN, N13,, March l -- lil-year-old | is _'(c1=) — ) Luplen, first 1 ionals in the Borden Rink to- plight, the retum game to be play- red in the Crystal Rink on Wed- nesday n ht. ‘Ibis is to decide the P. E. I. in- termediate championship. The an- nouncenlent has caused a definite revival of hockey interest in the western capital and from current gossip a large turnout of the Crys- sull- port to the loce-l squad- The winners will meet the Saint John ‘team on Island ice. either Borden or Summerside. to decide the intermediate championship o! New Brunswick and Prince Ed- ward Island-S. St. John Royals Near tlinching Juvenile Title .._.__, SAINT JOHN. N.B., March (CP)—N0l‘th End Hbyflls 0i Sa i Brunswick Juvenile Hockey Cham- pionship tonight when they out- scored Monotone juveniles repre- sentatives ll-4 in the first game oi a total-score home-and-homo ser- es Royals will carry their four- oal lead into the second and declging contest Saturday on the Univer- sit rink at St. Joseph. , rge Bell and Clem O'Connor refereed tonight's game. illanny Webb "Wins Bout ‘is D- l- ili‘“‘°i.i“'i°rf“‘f.“.f.f't°"lélt“tfi Ara Awarded Series ;....P.".....=...:=.... .....i. ... ~..... ‘ggvgilxt; wait and see what hap- ‘W A" m“ lci their life-saving fluid will be on hand at t "We honestly don't know how to t regain our spring. We will gin Writs. secretary - treasurer the Amateur Athletic Union. of added that he would seek extelv, slon of Haeggs visitor's permit in the United States and that he hoped to line up a Pacific Coast and southern trip for the two which would terminate with the annual géennsylvania relays April 2'7 and RED CROSS—- _ ‘(Oontinuedmm gage l) “Contrary to pollulalj belief. a man or a woman, wearing the red cross on his or her sleeve is safe from intentional harm on aw battlefield in Europe. I do not lnmw if anything else I can say about tlle Red Cross would be more significant than that. "Ninety per cent of the blood plasma used by the Allied armies is stored and controlled b)’ m9 Red Cro. "But to a badly wounded man. just taken off the field. plasma is of no use. He must have fresh blood transfusions. For this pur- pose of supplying fresh blood. the Red Cross has men oi reinforce- ment units back in sectors of com- parative safety. Here, those men are well nourished. Their blood has been tested and classified be- forehand. And they are avail- able at an instant/s notice to‘ give o s badly wounded . "I think. therefore. gentlemen, it is hardly necessary for me to tell you to go out tomorrow and do all you can to solicit subscriptions for this Red Cross drive. And as you go from door to door .it may be‘ that some oi you will think oi that coloured Red Cross lad who_ gave his life that others might live. I am sure the entertainment by you of that thought will fortify and sustain your resolution to make is Red Cross drive the most successful in the history of the Province." At the clou of the meeting it was learned that Davis and Fraser had generously contributed the sum of $500 to the campaign. 63 In Hospital After Train Wreck ZORRA. 0nt., March 5—Sixty- three persons were in hospitals near here tonight, two in serious condition, as a result oi’ injuries received when nine cars of a Can- adian Pacific Railway passenger train bound from Toronto to Chi- cago were derailed at this Oxford County station. Nearly 80 persons were injured in the wreck, caused early today by a broken rail. although more than half of the 250 passengers aboard escaped with a shaking-up. The most seriously in ured are Mrs. Elizabeth Hall oi Toronto. in hosp fractured skull, and , Henry 23-year-old member of the R.C.A. . He received treatment for severe head and facial injuries in hospital at Tngersoll. Ont. The derailment occurred when a flaw in the rail caused a break after the train's two locomotives and baggage car passed over the faulty area. Two sleeping cars rolled down a 15-foot embankment landing on their sides in a gully, while a chair oar. third in line. twisted off the tracks and nosed to n field. Its rear end remained (lg The Canadian Press‘) BR! HTON, England, March 5— Danny Webb, Montreal negro who, has an eye on the world feather-l weight boxing championship, to-\ night defeats Jim Brady of Dull- dee, British Empire bantamweight champion, when the referee sto ~ ped the contest in the seven round of a scheduled eight-round non-title bout. Despite some fast work. Brady was outpunched by the Canadian Army slugger who created a sensaq tion last year when he stopped the‘ world flyweight champion, Jackie Paterson, in three rounds of their non-title bout. MONTREAL, March 4 -- (OP) -— lPritz In , Swiss-born ski in structor at La Beauport, Que, has turned down a proposed match race with Herman Gadner oi Ste. Jovite, Que, llllles Pickens, who put up a $260 prise for the race, said today. Pickens said-that Loosli had told him the "whole thing wasn't han- dled in the proper manner" and] added that he hadn't conditioned himself for racing. " soil , eve our, Transport Crashes across the tracks, halting the re- irluirring cars. Killed When Seven DAYTON, 0., March 5 - (AP) _ Seven persons were killed and l6 hurt today as a two-engined cargo plane crashed and exploded at Wright Field, setting fire to a hangar in which o, number of civ- lliens were working. The plane was on a test flight and crashed just as it made its take-off. Seven otiher airplanes in the stone hangar were destroyed but military and civilian personnel succeeded in preventing the flames The annual meeting oi Bruce Stewart aim Co. Ltd, took place last evening. ‘Ilnere was a good attendance of shareholdels who were greatly pleased with the showing this plant made during the past year. Mr. FR. Yieartz, the president, addressed the meeting, expressing pleasure at meeting the share- holders and called on Col. C.L McKay to reed the report which appears below. Considerable discussion took place, which was joined in by John A McNair, J.0. Hyndman, Col. McKay and others. Mr. Mac-Nair rrlade reference to the great volume of business done during the year, not far from a million dollars and the fact that almost a half-million dollars were paid out in wages, most of which would be spent in Charlotmtown and vicinity. lie had high praise for Col. McKay as a malt-agel- whose untirlng efforts has helped so much in obtaining the large amount of business and said he understood there were excellent prospects for work the coming year. Mr. John O. Hyndman also con- gratulatcd Col. McKay and said he would like to see everyone, cit- izons, service clubs, in fact all that would possibly exert influence go after a marine dry dock for Char- lottetown. Tihen Bruce Stewart 8: C0. would be a. real asset, capable 0i employing large numbers oi men continuously _in peace time . Col McKay, acknowledging tlle many kind ks said he did remar , have a difficult time but he was Largely repaid by the fact that the directors and shareholders ap- proved of what he had done. "Per- haps iJhe most gratifying t to me" said Col. McKay, "is the igh praise naval officer; have for the work turned out by our pliant. One of these officials the other day said ‘no work done in any yard in Carladn. has equalled or surpassed Bruce Stewart cc Co. Ltd, plant.‘ " And speaking oi the employees the same gentleman‘ said "with the men you have here you can take on any job that comes in." Space does not permit an ex- tended report of the meeting but citizens who peruse the directors’ annual report which appears be- low will find, as the speakers de- clared, that Bruce Stewart and Co. Pd. was s. very lively concern in 944. The board of directors was re- elected and at a subsequent meet- ing of directors Frank R. I-lcartz was re-elected president. D.D. Morrison. vice-president and Col. (LL. McKay secretary - treasurer and general manager. DIRECTORS’ ANNUAL REPORT To the shareholders of Brfiiiefl Stewart ck: Co., Limited. You;- Dlrectors have pleasure in resenting, herewith, their Annual port showing the financial posi- ‘ tion as disclosed in the Balance Sheet as at January 31st, i945. The year has again been one oi considerable activity, especially with naval ship repairs and the comple- tion of ammunition lockers con- tract. The large volume of business done amounts to 1775.92, an increase over the previous year of l. . The amount paid out in wages amounted t0 818888631. This is the largest ay-roll we have ever had during t e history of the Com- pany and is an increase of $253.- 339431 over last year. It may be interesting to shareholders to know that our pay-roll ran as high as .00 a week. With a pay-roll of this sine and the large amount of material required. it will be seen we require, at all times, consider- able accommodation from our bankers to carry on a business of such proportions. It will be noted our loans are on] about L29. half of last year an it is our hope, in the course of another year. we may be free from the bank and the private securities held by them returned to the own- c» .- 3° er. During the vear monthly direct- ors’ meetings ave been held During the month of December we were obliged to lay off about 130 men as a result of not getting a naval ship repair job for the win- from spreading to other buildings; a . is TONIGHT PLEASE ~ NO BE EARLY SMOKING NO SKATING COLLEGIANS CLIMAX OF GREAT HOCKEY SEASON ter months. Every effort laimade SEMI-FINAL“ Y-OFFS TO-NIGHT GAME STARTS AT 8:15 ‘active Year RepiorteolA _ ' lnnaalMeetingLast Night Brace Stewart & Co. Ltd. the work that has gone out of the to va- GIPTOWII ll. B. A. F. " THE FORUM -_: TTZ-ZI: to secure one of the naval ships but without success. As a result we are only employing about 100 workmen. We nave every assur- ance that, when the ice conditions permit. we will again have naval ships for repair. At present we are engaged in the manufacture oi Imperial Marine gasoline engines for the fishing industry and over- hauling and repairing c! all kinds. We are pleased to report we have secured an order for overhauling and repairing mincswcepcr winches from the IIaval Donnrtnlent am- ountlllp; in $22,000.00. ‘This order along with present activities will keen our present staff busy until Spring. We have entered the sixth year of war and it ls pleasing to note the Allies have been s0 successful since our lost meeting and it would appeanrictory is near at hand. it is our hope that when we next meet ill annual session the Europ- ean war will be over. It is difficult to agpraise what the conditions will e after the wnr ends. No doubt there will be great changes in our economic system and we- can look for very little relief from tax- es for some time to come. We must again refer to the necessity for a Marine Dry Dock for this provincs and we ask the co-operatlon of our shareholders to secure same and thus provide “work for a largo num- ber of workmen. Tile assets of the Company, as shown by the financial statement, amount to $277,962.45 and cur- rent and deferred liabilities to $82,- 345.82, leaving a surplus of $195,- 616.63 which is represented by paid-up capital $157,400.00 and sur- plus account of $38,216.63. The net profits for the year a- mount to $12,976.32. Last year our statement showed net profits at £0,107.01, later it was found. as a. result of the Government auditors, the overhead that was set up by one of their former auditors of 50% for naval ship repairs was too high with a. result the rate was reduced amounted to a rebate of $18,882.18. This amount had to be charged to surplus account as shown in tlle statement. Since then our over- head has .been further reduced to 25% and a rebate for the months of February, March. April and May amounted to s3l.l17.82 and has been a charge against profits for this year ending January 31st, 1945. In all $50,00000 has been rebate-d to the ‘Treasury Department of the Dominion Government. It may be at the next audit the overhead rate will be increased. if so we will then get the benefit of such lll rose. In pursuance with our policy an- nounced last vear that no dividend would be paid until private secur- ities nre released by our bankers, we are reversing that policy this year and with the permission of the director. whose securities the bank hold. we have declared a div- idend of 2% on the paid-up capital of the Company. is dividend will be paid on March 15th. 1945 in accordance with by-law No. 24. It is pointed out income tax rates are so exacting that very little is left to pay dividends from. The more profits made the higher the in- come tax, so it is difficult to show net profits sufficient to pay a divi- dend. We wish to express our dccn re- gret nt the passing of two of our oldest shareholders, viz, Dr. H Johnson and J. A. Morrison. We express appreciation and thanks to all who assisted the Company in nny way during the year. especially those associated with the Conlpnlly in our offices and plant for their loyul support and hearty co-operotlon which has helped to iglltcll tho liravy respon- sibilities of your executive. We have pleasure in submitting ior your consideration and appro- val this tllc thirty-fifth annual re- port and financial statement of the Corporation of Bruce Stouurt &: Co. Limited for the ywsal- ending January 31st, 45. All of which is respectfully sub- mitted. Frank R. l-leariz. President. D. D. Morrison. Vice-President. C, L. MacKny, LL-Coloncl, sec- retury treasurer rind general manager. John A. MacNair, Director. A. W. Matheson, Director. J. O. Hyndman, Director. D. A. MacKinnon. Lt-Colonel, Director. FIRST G A M i-I 39% to January 31st. 1944 which.