PAGE TEN DOWN THE BACK STRETCH (continued from P880 '1) heats in this time. These tracks being as follows: Pomona, Cal. 45 heats in 2.10 or better in .31 races. Reading, Pa., 3'1 in 22 races. Col- uumbus. Ohio, 32 in 16 races. Allan- town, Pa., 32 in 13 races. Rutland, Vt.. 30 in 17 races. The above race tracks are among the fastest in the world and would be anywhere from two to five seconds faster than our Prince Edward Island tracks when climate. soil and footing are taken into consideration. ‘Fae Allantovm, Pa, track had the distinction of establishing the fastest average, 41 heats being rac- ed there at an average of 2.08.90. They were closely followed by Col- umbus, Ohio, where.45 were dis- posed of at a rate of 2.08.98 per‘ mile. Speaking about horses that show- ed marked improvementlastseason marked improvement last season, a friend of ours mentioned York- ola 2.14 1-2 by Dingola. 2.06 1-2. _-_ l at our Exhibition have not been so ui of late year's as they were in thepast.‘ Pbr instance the only win at the Provincial Biti- bition 1932 that we can recall is that of Lillian who won the first two heats in the 2.22 trot and pace in 2.1115 and 210V. the third hca: going to Star G. in 2.10%. It is true that the previous year. 1931, the Keyes Stable were much more successful, but as these hor- ses had been bonded into Canada earlyln the spring or else were iii Canadian ownership it is diflicuit to see how they could be prevent- ed from racing here. As a matter of fact the average speed neces- sary to win at the Provincial Frz» hibition if only provincial bred horses are allowed to start would be 2.12 or better on the pace and 2.14 or better on the trot. The Maritime: now possess so many fast horses that they can give battle to almost anything that is likely to be brought down to our tracks. Take a look over a few of them now owned in these This black gelding had been in several hands prior to passing into the ownership of Dr. M. Delaney, Wellington, P. E. 1., and showed plenty of speed but lacked capacity to carry it‘. We‘ well remember two years ago about a week prior to our Exhibition, sitting in the “little grandstand" and watching the horses being worked and re- marking to Billie Keyes as Yorkola passed that he had as much speed as any horse on the track and could pace a. quarter in thirty sec- onds. Billie was incredulous, so the next heat we went to Tyndall Sample and asked him if he would go a slow mile and let him step the last end fast. Tyndall agreed and five or six watches all caught the last quarter in thirty seconds or better. Some whiz! However, it remained for Owner Delaney and Trainer Roy MacDon- ald to develop Yorkola. into a. real good pacer. He raced credltably at Summerside his first appearance, July 1st. and then at Northam where he was in with such tough ones as Golden, King Spruce, Mac Volo and others. It. was at Char- lottetown Exhibition that he really struck his stride. winning in, straight heats from a good field in 2.16 1-1.’. 2.14 1-2, 2.16 and first booking for paccrs. A couple of weeks afterwards he started in the 2.24 Trot and Pace. at Halifax with such beareats as Star G. 2.00 Hush 2.10, King Spruce 2.11111, Calumet City 2131i. etc" a total of ten lining up for the‘ word. Yorizola. got away in a. bad position the first heat yet finished fifth. In the second heat he was a close third in 2.11 being only beaten by Star G. and Hush. 1n the third heat he was second to Star G. in 2.12. He was entered at Fredericton but as the races were called oil’ he did not get an op- portunity to show what ha could do" on that fast oval. ‘There is no question but that in the same hands this year he should prove one of the best pacers out for the money, as it is understood that la- ter on in the season he was a trial mile in‘2.10 with a quarter in thirty seconds. Dr Delaney is looking forward to the future with hope and. con- fidense, as Sylvia Peters, that well- bred mare by Peter G. 2.0411 is due to foal shortly to Bud Axworthy. Bred like that there is nothing to prevent its being a world's champ- ion. and Peter G. is the sire of T011 Gate 2.00%. The early disappearance of the harbor ice was a great disappoint- ment to the members of the Vic- toria Driving Club. who liad pian- ned several good programs. Things were just getting warmed up with the boys when it was all over. Last year they raced until March 25th which was one of the latest sca- sons we can remember of. , We note where Tarzan Grattan 2.0311 is winning over the ice at Mars Bill, Maine, stepping quar- ters in thirty-one rmconds. Tar- zan will be remembered’ for his winning of the free for all at Nor- tham in 1930 and establishing a. track record there of 2.121’. which parts. Pacers; Calumet Brownie 2.00%. Darkey Grattan 2.0214, Neil Frisco 2.03, Volo Rico 2.04, Mar- jorie M. 2.0711, Star G. 2.091%, Flo Abbe 2.11%, Hush 2.10, Billie Cope 2.1011’. Lucky Lindy 2.11, Sante Vo- lo 2.0914, King Spruce 2.1113, Bee- toin Grattan 2.1013, ‘The Wlllys 2131/4, Gaiety McGregor 2.07%, Hedgewood K. 2.0912. Then. take some of the trottcrs, Addie Me- Graw 2.10, Petecr Dawes 2.12, Gold- en 2.12, Heatherbell‘ 2.0814, King Frisco, 2.12, High Toby 2.131é. Abbe Worthy 2.0613, Tease 2.091%, Frank J. Ortolan 2.1315, Great Scott 2.08%. There are plenty of others but these just occurred to us now. Some interesting facts regarding $1118 part played by horses in the Great War have been given out by Major General Sir John Moore director of veterinary services wth the B. E. F. In the first twelve day's of the war 165,000 horses were requisitioned while the number ut- ilized during the whole period with the British forces was 1361000. A total of one million horses were at use tit om time on all fronts. "It is incorsmivable," says Sir John Moore, "that any war could be conducted without horses. Dur- ing 10rd Allenbys advance on Je- rusalem in 1917-18, some horsm engaged went without water for forty eight hours. No mechanical substitute could have fliled the role so successfully borne by animal flesh and blood," Sir John adds. Owing to the ‘closing of U, 5_ A, banks various race tracks operated for runners in the U. S. A. havc cancelled their programs. Th: Cre- scent City Club of New Orleans, La. the Aaua Callcnte Jockey Club of Mexico, have cancelled or flncief. mil-ell! POSLPOnQd their programs. Word has been received from 1t- Jil that the owner of ahe Marchi- oness (ti) 1.5916, winner of the Hamblewnian Stake last year and ‘joint holder with her brother Pro- tector of the world's three year old troitting record is now the pm- perty of Premier Benito Mussolini. The Marchioness, it will be rem- embered won her first start on Eu- ropean soil at Milan, Italy, last December, being the only truttcr or pacer. so far as we know, that has won races in America and Europe the same year. It is inwrcsting in looking back to observe the families of race hor- ses‘ that have bred on and. those that have fallen by the wayside. Some twenty or more years ago the Blngens were all the vogue. but to-day very few representative, of the Bingen family are making good. The only one that we can recall last year was Ankabar, one of the most outstanding trotters on the Grand Circuit, sired by Bingcn Silk. At the present time the Peter and all others with the exception of the Axworthy strain have been relegated to small proportions. We c! Peter the Great were not iso-igiii after for breeding purposes, he- was afterwards lowered by Billy Cope. Tarzan did not start at Charlottetown Exhibition that year but went over to Halifax next week and lowered the track rec- ord to 2.0818. Our good friend Captain John L. Read of Borden, has written a letter advocating colt stakes and lgatzsting cgiliut 2712:: a. .2 I’ w ‘England horses comifll "P"! 3°!‘ " - i our race meats. There is no doubt that colt mini: would rive an Id- ried flilip to colt raising. Main and New England horses racing r i. cause it was then said that the Peter the Greats would not breed ‘on, while the sons of Biiigen like Todd, Cochato, etc, were throwing a. lot of speed. However, tho Pa. ter the Great sons have since made good, over 180 of them airing per- formers and several of these being credited with over a hundred in the list, while the top sire of Pc- virr the Crcrwf, Pr‘ .' Volo 2.01‘. ls represented by over 200 in th: list six of them in the two minute list the greatest extreme speed sire the world has ever knavm. h... \‘!§ l the Great family dominates the turf in the male and female lines can remember the time when sons THE CHARLOTTETOWN GUALKQIAIQ Guy Axworthy now in tho t“. light of life and retired from sag. vice at Walnut Hall Farm, did mt make much stir as a sire until he was twelve years of age, than ru- turity winners and early extreme speed comnienc ‘- to show up. In the past few years sons and daugr ters of Guy Axworthy and grand- sons and granddaughters, ‘have practically dominated the futurities. mainly through Guy Axworthy him- self but also through Mr. McEl- wyn and Truax. The trotting world today looks for its speed material mainly to the two famlies of Peter the Great and Guy Ax- worthy. i The fastest mile trotted by i two year old in Florida to date is that of Suny Sam by Spencer (3) 1.59M, when he stepped n mile in 2.153.’, last. half in l.05-"’.. quarter in .3111 seconds at Loiigivood, Flo- rida mile track. Will Flemming wt formerly campaigned Margaret cers and made quite a few visits to the Maritimes with his string of race horses, forsook the harness horses late last fall and now has a stable of runners. He recently won a race at Miami, Florida, with three year old Stealing Away, cleaning up considerable cash in the mutuais. The, following item the American Horse Breeder of March 8th, in Milton's Maine Re- view. “It doesn't appear possible. but I am wivondering if it: was W S. McKie of Charlottetown, P. E. I. who has bought Bellini Scott 2.091% It seems as if he should be out of the business by this time, but years ago he was buying more appears in than anyone, two or three of them of the Miss Pratt family." Mr. McKie is not the owner of ‘Bellini Soott. He is owned by Wiliam McKay of Kensington, but we assure our friend that Mr. Mc- Kie is still hale and hearty and his hundreds of frimds are glad to see him out every day with his horse and sleigh. .PUT 0N YOUR OLD GREY BONNET On an old farm house veranda, There sat Silas and Miranda. ‘ Thinking of the days gone by. Says he: “Dear, don't be weary, You were always bright and cheery, But a tear is dimming your bright eye." » Says she: "There's tears of glad- ncss, Silas, there's no tears of sadness, It is fifty years today since we were wed." Tlvrn the old. man's eyes brighten Arid his kind old face did lighten, As he turn/ed to her and simply said: Chorus: Put on your old grey bonnet, With the bright blue ribbons on it. While I hitch old Dobbin to the shay. And through the fields of clover, We ‘will drive to Dover, On our golden wedding day. 1t was in the same old bonnet With the bright blue ribbons on And sitting in the same old shay. That we drove her off to Dover, Through the same old fields of clo- ver, ' And you hear the old man soft. ly say: SUMMERSIIIE and Prinz-County rlnce. Grattar 2.0511 and other trotters and paw breeding stallions for the Islandi ‘heaviest shocks in years --'l‘hln column in reuervul for nrwl o! local Interest but lrlrutlnlng of n newly nature may In Inn-fled a! 2 rants n word strictly payable In Id- CENTRAL GUARDIAN _,..__.. '13,; column ll reserved for new! of local interest but ldvlrfllllll of I “w” nnluro may ha hunted at I "n" g word strictly payable ll Id- YIIIEQ» ARE YOU DOWN IN TB! "dumps"? Come to Prince Edward March 17th and laugh it off. 8353-3-11-31 EVERY VARIETY of Cake and Pastry on Sale at. Prowseb this afternoon by Trinity Church Ladies. 8335-3-11-11. i TREMORS Continued from page I I SECOND‘ SEVERE SHOCK A second severe shock, but of lesser intensity than the first swayed the city at 6.06 o'clock. ‘ Reports from Glendale were that the effects were equally severe. Downtown traffic, street car and automobile was at a standstill for some time in Los Angeles. Reports from the east side of the city, the poorer residential district were that lights were out and many windows broken. Ambulances rushed lo the down- town section and several persons were carried to hospitals. The walls of the old Chamber of Commerce building on Broadway between first and second street, tumbled. A third major shock swayed the city at 6.10 o'clock. Reports from the southwest sec- tion, in the vicinity of Inglewood where shocks in previous years have been strong, indicated that loss to dishes and bricabrac would be heavy, if not to property in gen- eral. A portion of the old police station on First Street near Broad- way fell to the street. A fourth shock swayed the clty_ at 6.12. . _ San Bernardlno, 60 miles to the southeast, reported that two of the struck that city at 5.54 and 6.05 o'clock. LONG BEACH ISOLATED LOS ANGELES, March io-Aii‘ attempts to reach Long Beach, Calif., 25 miles distant and on the Pacific coast, by telephone were futile-tonight. The telephone com- pany said the lines were out oi‘ or- der. The fifth of the series of severe shocks came at. 6.10 p.m. Each shock after the first major one was of lesser intensity. Twenty-five minutes after the first there were no reports of loss of life, although the area affected by the earthquakes was so large it might be hours before adequate reports arc in orrthe extent of the damage. - A building collapsed at Central and siausen Avenues in the south- west. Scveral persons were reported injured. SANTA ANNA, CallL, March 10 —One death and many injured re- sulted from the earthquake that struck Santa Ana at 5.55 p.m. to- nilzht. Jack Ellison, 34, of Oakland, Calif, was killed by falling bricks near the Hotel Rossmore,- which was wrecked. The Court House and City Hall were partly wrecked. Many other buildings suffered. The new Hall of Records and the Court House annex also suffered. The Court House annex caved in with heavy damage. American Legion men responded to emergency calls and were guard- ing the wrecked structures and aided authorities in maintaining order. LONG BEACH—Tiie business district of Long Beach was in wreckage tonight and 13 known to be dead in the Les Angelcs Beach area, after the most destructive Southern California earthquake in many years. SAN PEDRO, Calif, March 10- One’ of the most severe quakes in years hurled bricks into the streets -FOR. SALE-Five Embden gand- ers. Apply J. P. Tanton. Summer- sidv. 9361-3-11-21 —CHAMP10NSHlP play-off at. Kenslngton, North Shore League, for Baker Trophy, Monday, March 13th, at 8 p. m., Clermont vs. New Arman. This is the first oi‘ a two- game series, goals to coimt. hour's skate after match. Admission, 10 and 20 ets. 9358-3-11-21 —SOCIAL AT LODGE-After the regular meeting of Prince Edward Lodge, No. 22, Summerside, which social was he'd and refreshments served. Mr. Zlnzen Phillips, Noble Grand prcsidctl.—-S. -l\lrs. J. W. Callback, of Sum- mersidc, has returned from the Prince County Hospital, where she been receiving treatment on ac- count of an injury received last week when she fell at her home. Ai- though dolng nicely, it is expected that she will have to rest for some time-S v.- was held on Thursday evening, a‘ and broke windows here late today. One unidentified man suffered a broken leg from falling brick. The police answered three ambu- laiicc calls in short order after the shocks. LOS ANGELES, Calif. March 10 -An unconfirmed report was cir- culated in San Pedro that the 'I‘er- miiiai Island Plant of the Southern California Edison Company in the harbor district collapsed and per- haps 200 employees were caught in the wreckage. An hour after the first shock it was not possible to get into communication with near- by sources to verify this report. i Southern California underwent a ‘series of severe earthquakes early tonight and a. half dozen deaths [were quickly reported throughout the stricken area. Many others were feared once a complete check had been made possible. Fires broke out at a number of centres, including mngieach and Santa Ana. An unconfirmed report was heard in Sari Pedro arias-rife’ "Ilofminal n- land Plant of the southern Caiifo WHEAT ' Continued from page 1 omic development." Stresses Grave situation ‘of the League of Nations council and assembly. the world is confronted." “a, m; least 30,000,000 workers are not include the workers’ familiel or other dependents. is probably In underestimate", adds the document. "The burden of suffering and clem- loralizutlon resulting from unem- ployment of such DFODQTEiOIIS 15 "ippalllng." . Wholesale commodity prices. ex- ‘pressed in gold, have declined by, roughly one-third since October. 1939; raw material prices have dropped on the average by 50 w 60 percent-- "In the middle of Deoembe, at Winnipeg, the price'of wheat fell to the lowest level recorded in any primary market for wheat durlnl, the past four centuries," says the agenda. “Such prioe-declines 118W produced profound distulbflflcfi if! the economic system. They have thrown completely out of adjust- mcnt prevailing costs of the vari- wus factors of__ production, have made business “enterprise generally , unremunerative, and have serious- ly disorganized practically all the world markets. "world. stocks of agricultural products and of other raw mater- ials cort'nue to accumulate. The index of world stocks for 1932 was‘ doifrle that for 1925. Huge accum- ulations thus overhang some of the principal markets and burden the processes of orderly prioe readjust- merit. drastically curtailed, particularly in those trades producing capital equipment. The depths which have been reached in sorne instances 'are illustrated by the position of the United States steel industry which, at the close of 1932, was op- erating at only 10 percent of cap- acity. . _ _ g ~ "The international flow of goods. hindered by currency disorders and restricted by a multiplicity of now governmental interventions, has been reduced to incredibly low lev- els. The total value of world trade in the third quarter of 1932 was. only about one-third of that in the corresponding period of 1929. The fall during the three year period was continuous." The document states that “only a handful of countries now retain free and uncontrolled gold-stand- ard currency systems. Almost half the countries of the world are off the gold standard, and, in some 40 countries, exchange restrictions have been imposed." Broad Solution Necessary The commission of exiperts do not believe it posible “to make substantial progress by piecemeal measures," adding that "a. policy of ‘nibbling’ will not solve this crisis. We believe that the governments of the world must make up their minds to achieve a broad solution by concerted action along the whole front." The principal questions which the governments are being asked to consider at the forthcoming conference embrace six elements. These are: Monetary and credit policy; prices; resumption of the move- ment of capital; restrictions on in- ternational trade; tarilf and treaty policy, and organization of produc- tlon and trade. With regard to the first, the ex- pens say “the objective must be the restoration of an effective in- ternational monetary standard to which the countries which have abandoned the gold standard can wisely adhere. Each government must, of course, remain free to de- cide when and under what condit- ions it could adopt such a stand- ard." The experts emphasize the necessity of providing effective safeguards "against such a restor- ation of the gold standard leading ornla Edison Company in the har- bor district ooilapsed and perhaps 200 employees were caught in the debris. It was not possible to Bet in touch with sources nearby to ‘make an early check. Paulo reigned as buildings away- ed in Loo Angelea as a half dozen sheen followed each other in quick order, each one slightly less severe than the one before. The fearful earth movement ex- tended ‘in mat fume from Ban Diego to Venture, damage in vary. inl “INN being reported by com- munities tbs-anti the ma. unemployed throughout the world.' eEven this huge total, which doesl Imptbved Seruice. ‘ ’ ___ With. West Indies, self-sufficiency which out unmia-‘A takably athwart the lines of econ-n (Bimini to The Guardian) MONTREAL, Que, March 10- Trade between Canada and the British West India and Australia and New zealand has not been The document, which is in the_'serioualy affected by the cessation m,“ o," a, emnmunication from thflof banking facilities in the United ‘ocmmission of experts to membaraIBt-IM. according to 1i‘. G. Wood. freight traffic manager. of the sets forth "tbejCanadian National Stearnships. Mr. gravity of the situation with which [Wood said that cargoes between (Canada and these Empire units It notes that, 5000mm; to timbre holding up very Welland that International labor office at Gen-- the recent increases in service over these routes by the Canadian Na- tional have been Justified. There is every indication of a continuance of this activity in trade, he said. ‘ Mr. wood declared the Canadian National Staamships has scheduled 52 arrivals and departures at Mon- treal this summer on the “west- crn" route of the West Indies, 16 on the Australian route and 10 on the New Zealand route, which was recently made separate from the Australian service. This represents an improved service over last year to meet increased traffic. PISQUID EAST SCHOOL Honor roll for February: "Industrial production has been‘ Grade X-l, Cecil Jay; 2, Joanna MacDonald. ‘ Grade IX-J, Reta Kelly; 2, Ca- therine MacDonald. Grade VII-l, Lona Jay; 2, Re- gina Kelly; 3, Jean Jay; 4, Ruby Jay. Grade V-1, Ruth Kelly; 3, Urban Kelly. 3 . Grade IV (Sm-i, Harold Jay; 2, Frank Kelly. ' Grade IV (Jr.)—1, Florence Kelly. Grade 1'11 (SrJ-l, Reta Jayri, Thelma Jay. Grade III (Jr.)—-1, Roland Kelly; 2, Alma McCannell. Grade I-1, Helen Kelly; 2, Ther- esa Kelly. Perfect attendance: Lona Jay, Harold Jay. Mayme MacDonald-Teacher. Cecil Jay, to a fresh breakdown." In the matter of prices, the oom- mission indicates that “one of the methods that should be considered is the continuation and develop- ment, where monetary conditions permit, of a general policy o! easy money designed to promote, a. healthy expansion of business. _“At the same time," says the agenda, "the question requires to be considered whether, particular- ly in the case of certain primary commodities where large stocks are overhanging the markets, a better level of prices could not be obtain- ed by the regulation of exports or production. Such an aningement could be of special importance in the case of wheat, the cultivation of which represents‘ the livelihood of a large proportion of mankind." Of "resumption or the movement of capital" and associated matters, the agenda says: _ Exchange Restrictions ‘The abolition of exchange re- striction is an essential condition of world recovery. For this purpose the governments concerned must .take the internal measures necess- ary to secure the stability of their budgets and of their economic aya- tem. The restoration of free ex- changes is so essential to the re- covery of financial confidence and to the resumption of the normal flow of international credit that the governments should consider whether they cannot expedite the process." Greater freedom in international trade is urged by the commission of experts. A general agreement for the pro- gressive relaxation and, at the earliest date. complete abrogation of emergency measures imposed‘ as s result of the crisis is recommend- ed. The document adds: "At the same timefit will be nec- essary for the governments to re- consider reoent economic tenden- cics in so far as these are reflected in excessive tariffs, and to arrive at understandings for the moder- ation and stabilization of tariff policies in future." ‘The experts do not believe that "partial remedies" will be success- ful. "What is needed is a compre- henaiva programme of world recon- struction. and this should be ear- ried through as rapidly as possible, so as to strengthen" the forces which are now working towards mwvm. We have here presented mi: a programme. we would not give the impression that the adop- tion of this programme could qg. llver the world at a stroke. from the difficulties under which it Ia "W “ibmiiis. But, if the govern- ments. arc prepared to undertake it. and also to 30m! 901101001 quqg. tiotl which lie outside the loop of’ ti: conference, we helluva that i ence and prosperity can be “Adored l. _._... Continuedfrompagsl i borowing money to carry on affairs of the company because serious ‘doubts had arisen as to whether the Trust Deed covered the shares of the Acadia Coal Company and the Eastern Car Company; that is,‘ whether aeeuritea of these. com: panics which are held by the‘ Nova Beotia Steel and Coal com- pany are security for the bonded M ‘ ‘ ‘ ‘ ‘ ‘ MARQEJI. 193a f‘ __ SECURITY v . A. _Pr‘e88hl'dtl'0n To Mr. And ‘Mrs. WE. Fletcher“ Mrs. G. _W. A. MacDonald, 5%,,“ W" W180i. was liostem at. a den... lishtfui party on Friday svenmlmf in honor of Mr. and Mrs. Fletcher-- when the ciwii- of Saint Andrewu“ Church gathered to do them 1.0.10.1‘, on the twenty-first anniversary o1‘, their wedding. W . Mr. MacDonald, who is preside“ of the Choir received with his wife" mdebtedne" o! the "o" sewn and made a suitable speech of we]. ,_ Steel and Coll Company. come to Professor Fletcher, organ. Mr. Smith explained that Mr. M‘ M me churchJnd M's-Fletcher iSinelair, the petitioner, was creditor to the extent of $252.90, unpaid January intcreat on $10,000 first mortgage bonds, 8612, unpaid lJuly i932 interest and January 1933 interest on $10,300 debenture ‘stock and for 20 preference shares of $100 par value. He said capitalization of the Nova Sootla Steel and Coal Com- pany was $1,000,000 par value mreferenca shares mostly in the hands of the public, $15,000,000 par value preference shares own- ed or controlled by the Dominion Steel and Coal Corporation about $4,300,000 first mortgage bonds, of which 330,540 pounds sterling were outstanding at the fixed exchanfli? rate of $4.06 2-3; and 34.998500 'out'standing debenture stock on 91111011 July ma: and January ieaal iinterest, totalling about $300,000 was unpaid. y i I After six months default, M1‘- Smlth explained. the trustee’ might call in the principal of this Dobenture stock Security for it was in a second mortgage on the property, and it constituted a pot- ential llabiiity of nearly $5,000,000.- He said it was generally con- ceded that worth of description in the trust deed were not sufficient to include the shares of the Acadia Coal Company and the Eastern Car Company. Scotia Steel and Coal Company was insolvent: First because it was un- able to meet its obligations, in the ordinary source of business. " because it had exhibited a state- ment to the receiver-manager show- ing its inability to meet its pay- manta. He said approximately 1.600 in- dividuai holders of debenture stock were affected by non-ravmcnt 0f interest, and hundreds of holders of first mortgage bonds had not receiv- ed payments, ' ' The company had issued a state- ment on January 19, 1933, showing current assets of $374,040.47 and current liabilities of 81.791.720.07. 1n addition there was the contingent liability of almost $5,000,000. H6 estimated that if fixed assets could be realized on the figure carried on the balance sheet, a loss to share- holders of $1,101,434 still would ex- ist, and he doubted l.f the fixed as- sets would bring anywhere near that figure. It was said that the present coal areas of the concern were valued at 80.000000, whereas what had Proved to be the better portion hadybeen sold for $1,000,000. “The Eastern Trust Company, joint eiver-manager is not op- posing the petition," Mr. Smith con- tinued. “They are prepared to hand over the properties if a liquldator is appointed." “Why can not the receivers do all this?" asked Mr. Justice Mellish. "They don't know whatproper- ties they are entitled to," Mr. Smith replied. “They will not borrow mon- ey to carry on the company if they don't know what their security is." He said the receivers would possess the non-productive units while the profitable units (Acadia Coal and Eastern Car) would remain the pro- perty of the company. The purpose of the order sought was to enable the company to be carried on as a going concern. It gave wider pow- ers than now permitted under the receivership proceedings. “’I‘ha company is definitely insol- vent." Mr. Smith said, "and it is definitely in the interests of the security holders that it would be woundup." , Mr. Burchell said it was a very serious matter to have the Corn- pany wound up under the Winding- up Act instead of under the Bank- ruptcy Act. He declared Mr. Smith had no right to proceed ex-parle. “l-lowever," he continued, "it is possible there may be no dispute." Re said he had received the petition only at noon. and had been unable to communicate with his principals in Montreal. _ Be expected to leave for Montreal on Sunday and wbuld lee the offic- ers of thaoompany. "Perhaps they may apes to the proceedings. I don't know." he laid. Mr. Smith laid he also was B01118 to Montreal on Sunday» and it was lbla some llmmont milht he ached than on Monday. Without, deciding whether Mr. Smith was entitled to proceed ax- plrte, Mr. Justice bullish adjourn- ed the hearing until March i5. ...-_-_ m home or office use a portable I with bright fires and lights. ai-f, congratulating them upon the happy _, eventand wishing them many year: ‘ of continued happiness. ‘ "‘ At the‘ conclusion of his ‘addl-m ivir. MacDonald presented them in . the name of the guests with a han ‘ some silver cake plate. A. feature of the evening, which“ caused much amusement, was witty little sketch .by Mr., y... Morrison and Mr. W.. H, Rieliai-i-lsi“ A gay little supper party folioweo._, when the table was centered with f" large wedding cake which was cut‘ by tho bride of twenty-one ycari- ago, amidst much nierriaient, Mrs. MacDonald's pretty rooms, ivere. gay with flowers and Shining "i together the affair was a much cn-v joyed one. - Sydney fast-Record,‘ Sydney. N. S., March 4, i033. RY. DEBATE Continued from page ‘1 ________________ of view than had the Commission’- Therefore, the Legislation having" = been introduced by the Minister oi Railways, coupled with an expres- ;. sion that he (tbelviinister) would‘? be glad to hear the views of men-iv " bers upon it, Mr. Malcolm said how felt that members’ should express ‘r their views. ' He went on to a brief review of- ,1 Mr. smith declared the ‘ Novflrallway construction in‘ Canada. In the majority of ‘new countries, rail- way building was in advance of re- quirements, he said. At ‘the time that the Canadian Pacific Railway‘ was under construction. a number oi, people said that it would never pay But the faith of its promoters was justified. Later came the projection of another Transcontinental road, and, if the war had not intervened, it too might have proven successfuL However, the fateful years from 191i to 1918 had intervened with their, grave effect on business enterprise. SPEAKER. UPHELD ‘ _ The King amendment to the Gov-A ernment Railway legislation was, ruled out of order by Speaker Black in the House of Commons today. Liberals appealed from the ruling. Mr. King yesterday moved an amendment to the second reading oi the Bill. It asked that the passing oi’ the second reading be postponed until the House had decided that, nothing in the bill should be taken to authorize any amalgamation 0L..- the Canadian National and Canad- _ ian Pacific lmilways. ruled that this anticipated action“; .which could only be taken when the.“ House was in committee after the. .. second reading had been passedpi asked for a declaration that noth . ing in the gill divested from Par-pi“ liament any authority it had over" the railways. This, Mr. Speaker ruled was irrelevant and not admin-‘ni sibie on the second reading. Mr. King objected that the ruling "' order. The House then divided. The Speaker's ruling was upheld 88 to 35 with i0 Progressives voting" ' with the Conservatives. ' .r- MOUNT HOPE SCHOOL 7 t “.5 - Report of Mount Hope School for February: ' Grade IX-i, Everett Maciicodbn; 2; Allan MAcIeod; 3, Edgar Docken-v- I dorff; 4, Pearl MacLean. Grade VIII-i. Margaret Burhoa. Grade VI-l, Harold DOCIIEHCIOTIL-jl Grade V-l, Ansel Judson; 2 Florence Burhole; 3, Weston Muc- Lead: f, Wlllena. Burhoe; ,5, Olive -. Currie. _ . , Grade IV (SrJ-l, Boyd Currie. . -. Grade IV (Jr.)—1, Gordon. Ducky. endorff; 2, Eleanor Currie; 3, El“, _- win MacLeod; 4, Annie MacDonald ‘_, Grade II—l, Ethel Currie; 2, vllu- . ,. bcrt MacLcod. .- Grade I-—1, Whitley Judsoni. Qt niissei Dockendorff; a, Albert Bur-w hoe; 4. Christine Macllcod. Q Perfect attendance: Aiiaii Mac-m; Leod, Everett MacLeod, Ansel Jud-,____ son, Florence Bur-hop, willena Burt" hoe, Boyd Currie, Gordon Doclten-VU dorff. Eleanor curl-re‘. Erwin Mw-J. Lead, Annie MacDonald, Ethel Our- ...i rie, Hubert MacLeod, Whltleli Judi " son, Russel Dookeudorff. Albert aur- hoe, Christine Maclieod. , Mi" . . Argentina has Mull"! l!" mm‘ ‘u locomotives; electric trains and rail“-‘“ cars traveling at night to be equiv-f": pad‘ with electric h::.i;i1 ‘its. "s flail children resemble: ‘ A-new sled f ' ‘can bseobvimdl“ electric‘ humidifier has been made to resemble an ornamental vase -I.\ an airplane an into a scooter bv nibltitutinl wheel! barmnailaluithotiiorfuraiahiap. sq- lll “BBQ - o a. ' it l», Mr. Speaker The other portion of the amendment ‘, had been made without an oppor-‘vf _ tunity of discussion on the point of " ti) .