Lfiliilllzk 1. 1943 ,_ _ - W 0P’ Iontml Stock llontreal llurll BENIN‘. sauna a ca; I __,._. Hamlin-nob 10 . - " '52 R23 1's iii Ekfim l‘ 1-‘ 51TH.’ ° . “’ £53 claw?“ a t": Inl-pOlI ' l4 1-4 1911112151‘ llmrricoooiu 111-2 - 5% smelt f} BANKS ' ‘ hlll 5°“ m; 1e v-e i pun 0°" g g4 Jlcutnal 165 blow‘, q t4 Nova Booth. pom . q g lwyal W“ 14 1-2 . . all-t °° *1 ikel 35 1' {it'll woods m lg MINING .. llama‘ 1i mat l‘: ___ l!" 9°" is llst 5"?‘ ‘m’ .1 1.3 Dec. e - (qr) — - thlvlilm“ l‘ H Close . l l can 82 1-4 . t}; incon o 1-1 Li]; i“ a g llew Yorll Stock .. .2: . ‘ o 1-2 Exchange _ ‘l ll ll-n G and P’ 1- 31' ii l... Tel a. Tel use 1-: 1.01 Anaconda 23 3-4 ghesEdé Ohio 44 3' on as s-a gfklfiieind 2s 1-2. Qen Motors 5° 153 Kennecott 7 8 . Mont Ward 4151" 1.54 ll Y Gen l5 1:8 orAm ,. . Phil Pete 43 5'9 oo 1-2 Radio CorD l BS . united Aircraft 25 7'3 1.54 ‘he u s Rubber 39 5- 4o 1-2 l U 5 (‘lslml i9, l]: . 4 year $.22‘ Uulilnon 4a 3-4 “ 35a m" West Elec 3 flock Markets At A Gian MOWER-EAL. Newsprints and winners ill tr olds Blocks wih a1 . ve the a kills" Pcommunlqile cf the Dec. I -- LCP) — ere today on the stock Exchange and Curb Market. other groups were mixed in trencs. NEW YORK, Dec. O - (AP) '- t ‘ connections best performance in to- J ket. on in most cases before the were modest Kirk Lake "big three" Lake Dufault qjllg-g cllsnnonargyvlv cunlgplslv rhciz_r_lyr_ Bankers on Transition From War to Peace l1 a-a frank and considered opinion of a banker," the value 3Y1 after, and the need for a healthy, vigorous and flcxlb x10 increasing productivity essential lo l_4 0f l l5sifiJarifohsiglith all its attendant 1.18 1 0s 3:32 W“ 03 igitmtoo much tn so!’ m" tbg’ Fem“ o1 one very successes of e forces. we in Canada are petll-lllloalnll’ vulnerable to the danscls 0 ‘l l] 11 03 03 1-2 p186 l0 l-Z tlon 3 our 29 l 5° ion 2B 1-8 Canadians to draw serves of sound comllloh sense and their capo-cit and se 21 3-8 05 0i 1-2 8 5conierences at Teheran appeared-l, o? 1% guru/non of the strussifl “d m; on the new tickers. I-filwh 1" iour ultimate ability w mWt l“ c‘. WINNTPEIG Dec 6—(OPl—RY¢ LEAF?“ zgpifioriifliveorthe $23333?‘ o: tim-smo“ l, w 3pm,,“ m“; registered subistantial gains today ‘ “Much has yleen said. and rlrlt- GEO GI: human‘ . - . -. , intr chino Winnibek nrolh Veil-rho l8 M 1y .0, _ {he - . .. exchange with the May and J i/id Cont 7 b8 wal-flmg ac... of L- hm futuhlses doing to new soriso Lwslgwls 1.51 industry -hachle‘l1eeel:el‘\,fe M: Wt nallonnl “nderlaklngk 3y wl-lllen - _ ld ave 1'1 1 1 ave “our. riairneilm a kills°r ‘ii .:"?>-~...".li:r .5“ lax: zl..;zll..r.lilli."*l.le.ulll "sills “.§%l"u.'°".%'='f‘n.lii§ hwy”.- o =5’ liiierfwho ‘his ir..r."'==.:".i:. llr.r“a.....*"u .- ‘mm °°m°"‘“°“- $3; 3",???“ 1% lkgkislgle ‘Jfilill. ch69“ ,‘;‘,‘.,‘l..i"‘ii. itilltlTciisli-éhgiit afovtiglriiirlggtuiggclllkigititag "—"' ' . - lke to lhlv " i IDNDON, Dec. e - (GP) - The obi-ion 1 21 1 shllllm aw.‘ l o less re~ and to "or: “Fill u‘: ‘it-ll i‘? ‘ a arr-is: §§‘.°ii.u?.i‘é.‘“‘i.§..“ calculi: que ea gs. n I __ u m‘ l ‘ '~“'some support while oils nnd home fl-llwlll‘ 0311f: 0th" ritififfn M “g; llma ll, llle special arrnngemcllls dcsiignlld 084: rails moved niuow . Kaffirs and "Will-ll lg m“? l d‘ occuplgd so vitally direct these m“? 95 dl-etglads shares attracted mam 3:61P“ 1234 ‘lifiknifil 21:81am in the alrmiaury hands (lfrortgllgclgeeglllllslg- Eel: fllllellyllgfé Premier 9" of the "hi “‘“°“' “l i nicer: gggeellminaticn b1 the obvious rlrhl Toaormo, Dec. 6—(CP)-The Prortggm 1Q at present-l E:l.5“‘“h,“v‘§' fir? and in keeping securities 1n ont-‘s own fold "M" wllmml o “W” “d” m“ 41 9°““‘”‘“} f’ M, meet the chall- home. for We know from experi- vanoc in ted-it"s Toronto Exchange Realom no l“, are cont nu mcnaséd demand, ems that, the investor who lodges mm- “flfkmfll '53 mmemd“ and Ringing ‘ oa w“ °‘ vulgv d extreme handi- his bonds at the bank for safe- olosing al- the day's toll. 5 M?“ 3 g5 119°“ “m” “ “l hell, and scar- keeping is thereby helpvd and eh- Prglrietary mica. a. new ltstilll s“ W ' calls "1 5mm?“ ° dml-vlng of couragcd to perpetuate his savings. ind in broken lots at ans. It: 5w?“ l, l_-,. city of mach ncryuum o! m w Divestment; include about a. million She tt s2 ti" PM” “'1 m lik allow say VICTORY nouns m THE wan shares of Kerr-Addison mines. Sisooe 53 tire natlomlishould L? "file" AND AWE“ Senior golds were ilncha ed anc 511d"! k 293 a. word concerlllns let Imam“ m“ °i "m" We" d°mmnt “t 5"‘ Sm” Rm "14 rendered by m“ W") “i” f e uip- "You probably have read public eral of the medium-price issues r ringer l 90 systems. Despite scarcly 0 will“ y. summer“ recemly that would changed hand-s in considederablc ll-llll-vgl" 19v merit and maupoWor. the a lmply m“ m, banks and all... volume at better prices. 5%“ 3': 3:00 arenlllanlilingnlégfehtrfi m,“ lmmullons have in lnlemll vanes-rum: wonxsss Ziilvaargzg it $12.. c riivlrnlsnccdiligwrllfofopfll‘: liyicxlviglsidsmfn‘Irigdhfiiigcgxwiili 30 dc t ns 6°" _ ' l, nonnon. Dec. -(OPl-- Shadow Qggluifgfd‘ 6.0a tixdmranldy with relatively llttlllfaill“ §gm§°§§e°l§§§lf°§“§l‘ffeglfillfdgiffi firms which bedore the war had no v8 “m 14 convehie to shippers all “in statement, l, seems u, m, “n”... mpeflen“ in the “mun ‘ndultry Waite Amll 4'45 5M w me "avemnfil pub“? sn- be the result of a thoroughly in- lre how maklns parts of the hues wrt l-larg 2-90 ncoompllshme" °‘ " m‘ pQXQOe ‘iincl rorrned and unbiased appraisal of four-engined Handler Pass Halifax ligament and . "ll-ills m” “l, u“ tum mm hand knowledge bomber. which is playing an lmport- CURB o the railway lymml enables me m speak on lllls llll all” part battering German com P“ 5 H‘ be proud~ with some iluthcrity. ‘As DCUlEO: ~ - ‘ r a a Pend Off! L38 THE wAnTugmoux o! gligamiilog fog“; lygfilfdyol two Kfepnlvfinard‘: in the home Total Bales 3 T53 and a hall; years’ l végg abllle “lnllhi *' "1 think it would be quite la slrw gt as: rflréllfa eilergllgvhlgih ‘ order fosmatodrawsttentiontopann s t _ nlch our Bank the Banks. Trust and Loan com l - - " p |,| l All h? thigh?“ '1'“ - ohmic". d: .‘".f.‘.’”é‘.°°..°°éi‘.€i‘“if.‘.i. ‘iii a n lvmtlattgogefii. Nirdilig-Tghiiebcfh gather xliesporifsible Zfillps in the Minimum Charge for Any Advertisement it Cents B t1 change in thc volume of loans community. brought to bear in= i1" ° n. merclal and financial m... utlng Victoly Bonds into tho ‘central Guardian locals, 6o pa: word; Western and Eastern locals M mmcuglllt ln omel- dlrectlofl-‘l l hands of small buyers and in en- to per word; Announcements and Coming Events 3c per word- ‘mum ' ll expandedrdeavouring to have them kept uil-suited so pu- word' ln Memorials: Notices 10o per mun; um of m” "wk h” "all; ml dg. film-e 5.1mm wlllcn these , Flor-l rho spiritual linemen v- ww- M w name; mur- of Transactions in w" n‘ l-elativll loriorts have attained can in some Condolence ‘lilo per inch; Wedding engagements l0 words for $1.0! Wm’- vlcwfl Bonxhtlin h 0“! - d be measured b the lml-eas. and Ill cents for every additional a words. Notice: ol Thanks sud '.°°\lpons. poluins lmlgglwmbly I lnfwfilumbe, o; lndylvldual 53195 flilllreclatlon. 70c Der inch or lo rec word. Lllta of Eubaerf tlona ands. hflyé b?" m‘ w“ om, lwhlch hum been made l“ vlcmry co ochu oer inch Addnl llld Pruoentatlou ll-flll. Other n cs heavier the“ l" ‘ll; 1m, -m n m l n, h, m, Fl,“ l,“ ‘mmcmnn Nibfi- a stigveiggciltlzain. Wevhave ai- oflrufse. that: War; 968m “u” o t rllbfl lubocri . In e an l, 1nd died closed, there were over 3.000.000 m" sfle Found wupodreris of uiillionsuThe radii": in“ui§°p'§rh°l.i°'n?v°" m‘! l-‘O-Esata - ‘ x 'n0o AND _ B , ti n! of ror sxchenmi ooll- " my vltlW tho Wide“ WSW“ Skates (Tubes. seize sisal» "SENrDu-y liisgoflevhil: 81:! uoloalsc have a ed to our mspon- distribution cf viomtry ilondseoeisll _ “film *""“‘_- M“ "id “°“~ °‘"‘°' w‘ “‘“'° '“°‘““°iu.“u.‘l‘.'. noiiiihwwidlii 5‘€y"“°u..’2l"..““.;.€..'%‘i.'$ cfiiihliéni‘ hes roll. SALE-l nluvmo. SLEIGII. “",l,,“°”{,l‘,’,'XXL" Rmfi .0 9% "E ‘Zchlch by reuon of heavy trenlendous post-war significance. new shafts. mcciicni cushions. £13m", All“; n1" ' ' nliltm nta is “oddly-den! in nor if the national debt u distri- Reasonable. Mrs. A. riclcy. ' ' 4-11 ‘its oxpcric ced rum. or their bursa salons all section! oi tho _?N9$0Wll- 12-7-11- dlllgencg and loyaltythe Genes: communitywthge procuselldol ‘ll-let- "é%..".‘.lf.? t.”"......“"‘§...l'.lli" “baled °'i'.i“u‘.‘i‘.“iu'é’l“°"?"""’ - loll‘ ,-°“,,»~»,‘ i~""=°.:* wriri circ ouwrdisn Office. woman T0 aux banal coon “g-lumfifogvamnl kg: g, ,,m,,,d,l>gl'gllog,,,ld,“g, fluff 12-7-31. sklncoatlslgocdsbapmli atoll“ "u. u d“. mm the mum "In sass - v 11min cows giants fibril-thank" r.-."..i:-Z‘c'§......c in“ . p your. Victory Bonds. can pay a very 4 c, Amol inotwithstlnfillli l "that"! 1"‘ N" I-llfl lmwll-"lt W" in Iubm!‘ W um, 11-1-3. WANTED, SMALL FARM flUlTy ORBAQ in _l ernment 605$. 1B8 the DMl-Wlr ewllfffly and innin- —- — —— -- ‘pl, lor poultry mining, Apply You will. I am sure. aplteciata my taming enlployment. LAYIN ULLETs FOB QUICK 1;» gnu-gm t w e: I say this is a develdlr I know there have been some sale. Currie Bros. Firviaw. llnqul-lt-al merit we welcome. lhccit is a dir- faara that there will be if-‘i-it I g ' ‘ of-tha natiulai moi-t n rush ho f vlacllualls Ion sass _ clmnrs rot-pm T8831"! wflllW-d ,"§,°‘.'.'i'§-'°'l,mqgw:u £25m '31s Wlfuail; thnadtl this Liriipesct gr hlw pm and Baby's white c by tauati and‘ sale this spending power on mods. which “Ml- Rll" 31M “W” "~\°““ W - ‘Fmnhol bonds to incl other for some time will be limited in “L- so"... *:<.*s=a'....i~=...r.:r:r." organ: poor-c. l» all‘; or» §“"...‘f,.““ no mun“; no" "l" 5|; - ';OVII ‘ IN: r under o i u on an mm,“ m: mgmm m,“ pleural-y Ignaz. Geo 011,132,? if... wminis now slum. m. u a Possibility r 3H! I . Prices reduced to ____"°"________-ldaty which the 8am, to hm not inclined tn accept without clear- gml-l, m- nny- meg. F I H l w auume to the cutout we reservation, fo the desire to save Kentville Kennels. Boil 10. Kcnt- 6M8 e G P IIIQCd are at and with the m of and to provi for the future is ville, w. 5, il-ao-iz-ui. rah-i- Flns g his dvlire to no that a basic human instinct. and a habit ._._.____—===_— WANTID — OOHPIIINI‘ GIRL till 110d! t! f0! "All Iifililfllll‘! which quickly takes POOL It ll true _ Mot-nor ii’-’-=il-°.“-'°l'=%'-‘F a’. "s." "o o "r ‘.‘l2.‘.i"..‘l‘.°. aa:.-'...r:i-..:::v p“ mborolt. "Norhosonir ttltisdelutiiiln-poralnl.oriost e habit. of A“ "F" "m w‘? llard been men one cf pensive saving gene gay has nuunb Fain“ imm‘ i: Lost ‘ no our wbole - snin become possible and is now roln direct fsetmv ll- M for Canada. Quote- ——-—-—---- _ _- _has foculsed yer‘. a not only considered res cteble but lions | hi "shed on applid- L081‘ - PAICII. ILANNELETII. "ant on upon the at rof- s has been elevated he , filial ‘bu; all Dirhor loci-ill»:- Finder have at Guardian“ 1 m lllalhg-svilyllonotoznlouioryhmnohil. and of a patlriloiil duty. Many people Vancoqygg" m we“ Page.’ , ________ _____>_‘ ’ proud of our recon} m " ‘n1 may I 0r the Hm’ “me the Phil in presentation of 1.05 profitogldgloa statement of 165 bank, as already published. Mr. Spinney spoke as “On the ba u; ugh causg or profound th - ulxlnésa, on the home front too the the local scene must lead to the 5,3 months but has. in brief. 5° time such as 8° qualities, disployedpby those athww can have a tellinll cm" ‘m the r Vital National Problems Discussed by Bank 0F Montreal President George W.Spinney Glves“the Frank and Considered Qpinion-of a Banker” on Nationalizatiiln A '" A of Banking 1 s'.__ 126th ANNUAL MEETING iStron-gly Emphasizes Value of Victory Bonds Both During War and After the _ the follows: ttle lines throughout world, the ast year has 11ml’! has been one of echievpmthh I think that any realistic view that the threat of ‘m: and hardship has in n0 diminished in “w Didi. twelyie- l! "Wbhiflir Moreover. I d0 ll°l= mink Allied laxa- ency with a consequent Fe of our end-ales at ll tlhlmleeal full efforts shill-id be ti" l‘ t; I think we have a 5 W» in which it is necessary i" lf-disc pllrlc. For it i! the George W. Spinney, C.M.G., president of the institution. with were nationalization of banking on which he gave what of Victory le economy i_n attaining a high and for full employment and decent living standards. i | Among ‘Problems of vital interest to Canadians in the transition from war to peace were discussed at the 126th annual meeting of Bank of Montreal shareholders yesterday by the subjects he dealt he described as “the Bonds in the war and a reservghol stgvinslilnllah larillkéag suggest, a e w s ve . in large measure. be .- led in“) the post-war years if Canadians we i to it that the act of Slllillfl con- tinues to be respectable and that the savings of the individual will be respected. THE INDIVIDUAL AND GOVERN- MENTAL CONTROL "At this point I think it would be quite in order to make some re- ference tn the much discussed subject of nationalisation or bank- ing. For it seems to me that the frank and considered opinion of s banker, who like most other Can- adian bankcrs has come up “the hard way." is at least as worthy of a hearing as the views oi ardent has the interests of his country ui move would be thleéroommun at larlle. o be more specifc. I on which the entire b take for granted, would it dlffic have a greater or .- piedge their inconles to theucular problem; than he has a mentowned central bank. "Our position tn-day is peting with each other for bus this com itlon is real and sive. Uh r th could conform to good principles. "The alternative which the PR0 exchange for the of competitive bank lng mohop ‘ lcontrol. Under such circiunst ohoc the rrowing ‘ of a customer were denied, for ll16€ recourse exce through the chm exponents of theories 01 state own- M ership. Int me say. therefore, as a banker. and as a Canadian who heart. that I am at a loss to under- stand what good object nationaliza- tion of banking-would achieve. In- deed I am convinced that such a reductive of con- sequences gnavey detrknental to see that under nationalization the many and varied banking services eds and commercial organization depends, and which everyone is incllierled to l. formed‘ with greater efficiency and despatch than they are now. I find ult to believe-that the in- divldual in his dealings with- a Government-owned Bank would of privacy l attention bu his parti- present. May I say too that I can find no need for nationalization in order to place the nation's supply of money under guy rrmental re- gulation. since the regulation of lhorlmlng o’ cred” terms fi,‘1m§‘y"“§§,,f,‘,‘§§j§ l‘); an reduced activities of companies that there are ten banks actively com- lnciil and I can assure you that aso-cimllnatanoes i! an individual has reason to believe that he is not being adequately servrd or that his proposals have not received due consideration by Elly one bank. there is nothing to prevent him from going to another. I “think it 1's‘ tslale to that ulndeli ° l‘ wmlle W 8y! l 11056 efficiency in s ife of the greatl of business by several banks would p y probably be sufficient evidence that tho proposal was not one which, by nny stretch of the IXHQQéflBQiPII, Dcnents of nationalizatiurl offer in mesa-ht System I is a bank- uhder governmental requirements Meson Whatever. he would have no iSirong Financial Statement Showing tion wa participating in o TI IANK IN THE POST-WAR YEARS “For 136 years this Bank has played an knpcrtant pal-i in the commercial and industrial develop- ment of the Dominion. In ull that time our facilities have been freely available to the Canadian people in the exercise of banking func- tions, conducted in all their aspects, without bias or political prejudice, and in accordance with principles which experience has pvoven to be s0und. In this, we have I think plawd a not unfitting part as the oldest representative the Can- adian banking system. Long tradi- tions of soundness, sane and ex- perienced anagunent, fair and confidential dealing. plus the com- petitive spur to progressive outlook and efficiency. have all combined to build this system that is serving the public well. I am confident that your Bank is well equiPDl-‘d to do ite knportmt part towards meet- inB the pmblems and opportunities cf the t-war years in a continu- ed s t cf enterprise and helpful- nfiis to the whole community." Ih rllbrulttlhs the 126th annual temcnt of the bank. Mr. Gard- "Our total assets now aggregate 81.313.086.000 as compared withl 81.175.319.01» a. year ago- Quick. 8889B lflEfelflle 81.036.610.000, or. 83.81 per cent of all liabilities to,‘ the public. . "Noted of and deposits with the‘, Bank of Canada amount to $119,- 866,000 representing ,, ximateiy use per cent of all deposit ll l bilitles in Canadian dollar-g, "Invesimenm not ex 000. show an increase during the year of $l15.'f0l.0fl0. This increase WM mainly in our holdings of Dc- minion of Canada Deposit Certi-, disarm and other short-term ob ‘ ligations of the Dominion GovemJ ment. Our holdings of Provincial‘ and Municipal securities show some further contraction reflect- ing the lower borrowing require- t mtlnts of these bodies- ‘Current Loans and Discounts are little changed from the pl-evl- ous year end figures. Our Com- mercial Loans continue t0 reflect the reduction in inventories, engaged in the firlancin of dur- able consumer goods, such as mot- or cars, the inactivity of financial . markets. and the reduction of private debt. "In valuing our assets. ample provision has been made for all bed and doubtful debts and for depreciation of securities. BANK SERVICES "The services of the Bank have been maintained at s high level of increased volume of routine re- s-lltinn fdom wartime conditions. The rise in bank depositc has been accompanied by a growth in the number of Current and Sav- With resources at the highest figure ment presented to Batik of Montreal share manager, reflected unprecedented strength andi market value, carried at treason-f ings Account and we now provide Record Resources Presented by B. C. Gardner, General Manager ,__?_.._ -_ --__._.__._.______. holders yesterd the nation’swar effort. B. C. GARDNER General Manager STAFF UNDER HEAVY WARTIME PRESSURE “By all standards the Dllsl» year has not been all easy one for the Staff, who have WOTK- ed long hours and have i161‘- formed their many and varied duties with courtesy efficiency and despatch . I cannot speak too highly of their loyal ser- vices The increased volume of routine plus special Wartime duties have entailed many extra hours of work. B96111"? are we mindful of the heavy pressure upon our Managers, Accountants and other senior officers who have had to train inexperienced employees in the handling of relatively sen- ior posts, very often on short notice. We have been lmPPflSBd wltll the way in which our women clerks. both premanerlt and temporary. have risen w the occasion. They are doing splendid work and. Within" them, either we could not have carried on our full banking services n" we would have been forced to ask for the defer- ment from military duty 0T mule of our experienced per- sonnel." <15. C. Gardner at Bank of Montreal Annual Meeting- "Your... Fro-rt... “The volume oi’ Canadian busi- ness activity leached new peaks ln the twelve months Just closed. During the past five 0f 81X months. however, production has remained steady ht 8 hi8!‘ 79"‘ and it seems reasonable w “P905 that the index of general busi- ness in Canada will not show any immediate future. Basically, this reflects the fact. that we have reached for sll sharp increase in the ‘BANK SERVING 1,200,000 CUSTOMERS Staff Now 58% Women - Relieving Many Men for Military Duty in the bank's history, the financial state- ay by B. C. Gard-nor, general ndicated the extent to which the institu- enl. reduction in the level of con.- stmctiou activity and the use of construction materials. On the other hand, the demand for gaw materials for the new productive facilities brought into being has increased» Moreover, as the war progresses it brings changes in the requirements of the fighting force: which necessitate N-Bdjllfliiflfilll in the employment of our industrial. faculties. "With production and employ- ment at. a high level, retail tradi has been very active but some signs of a moderate tapering off are in evidence. This is in part a. consequence of curtailed inventor- ies of consumers’ goods, parti- cularly in the durable goods cate- gories, and is also the result o! restraining influences of taxation and the voluntary savings effolw’ ulrldertaken by the Canadian pea pe. STAFI‘ “Of our male staff, 62 per cent of those of military age have vol; unteercd for and are now on ac» tivc service. This total includes s. large not subject to mili- tary call-up because of their marital status, while a number of others have volunteered but have been unable to qualify on medical grounds. In August, i939. 64 per cent of our staff were officers, 30 per cent stenographers and women clerks and 6 per cent messengers. To-clay the figures are 8'1 per cent officers, lid per cent ltenographerl and women clerks and b per cent messengers. I think you will a- gree this". this is an impurtanp cllaange in the composition of our s ff. "We have been asked for and have loaned additional officers u: the Government arid we are glad to know they are wquitting them- selves well in their new duties. "It is a source of keen satia- faction to us that a number of our men now serving their King and Country have won distinction and decorations on the field of battle. Ten members of our staff listed a! llrlsoners of war and fen are re- ported as missing. Our thoughts are with their relatives and friends it Ls our earnest hope that the day is not far distant when they will be returned safe to their fam- ilies. I have to record with deep regret that thirty-six of our men. have paid the supreme sacrifice. Their memory will enrich the traditions of our service and our deepest sympathy goes out to their, relatives and friends." “I should mention that already we have given a great deal c! thought and study to the question of reabsorbing our men now on Military Service and plans have been prepared to enable lls to fit them into their rightful places in our organization when they return. It is our expectation that because of the duration of hostilities and their long absence from civilian life. members of our staff on no. live service may requirc assistance in reestablishing themselves in civilian life and we are therefore, prepared to provide financial help nels f speci ‘ *' influgnce. a or much" ' "Underlying all the talking “One of the most prominent pro- and thinking about Post-Wei‘ ponenfs of nationalized banking planning which we hear so recently stat d, r 1h It! fol/pug. lglslrgnlsflgtfgklleflgolfn much of to-day is the deter- l o- mlnation that out of this war ance is a most essential step to there must come a better Can- i control of the whole economy. with ads; and that those who have the truth of this statement as fought and worked for victory ‘lllllllicd to nationalization of the must he assured of an oppor- fllffl- Set up l. liaatlon of the rest of the only talr of nationalised "'1"! ill‘ dependent upon °’ “‘" ‘its’: 0d to the concept of a the domination W authority of all banks I would "ifvheilbt celgfirlitcly Ulmll - llglynof bankinl Canada nnnrfili. §’“°“" “w” “...."'.‘.'..2: PS’: "i" . r lfovemmentalrbupeau becomes 1th: 5°\"'°¢ 01 dlydo-day credit accommodation for iianadian 1n- fill-W! and agriculture, tho ‘m... .. 3'- lll ftl Dflmlry gm”? m‘ m“- bill is on: o , versus m ln "lo "=14 of credit: and clan within these limits it concerns everycnq. sdian ante ice that-mailman or oi credit the oentni bodice whether are e public or private which must nave feeling of independence which only recourse to CNGR facilities. turllty as free and lnclcpndent enjoy to defend. that in lhe accomplishment of these purposes there will be a place for governmental mea- sure wisely conceived and ad- minlstered- But 1 buses-rt that the real basis for full employ- ment and decent living stand- ards a high and increasing bNLLS FOR CLEAR THINKING 0N POST-WAR PLANNING adian economy within the strait-jacket of governmental rcgulatioz. ownership and coll- i-rol. Such a doctrine ignores political and economic realities as well as some of the persist- ent frailtles of human nature, and rests upon the assumption flint government ownership and control are inherently ‘right’ and individual ownership and entuirplise inherently ‘wrong! My hope would be that Can- adians will never. through in- difference or lack of clear thinking, acquiesce in the crea- tion of all economic order m which enterprise and initia- tive, and the spur of ccmnetl- tion. are regarded as of little value and low reputation. "’I‘he whole subject is one of vital national importance and Where the need is clearly in- dlollted- ‘They may be assured of n blur-en welcome back to our sen vce. MOI! MILK PRODUCED In the first six months of 1942. British milk production was l0.000, 000 gallons above the average for the firsh six months of each pro-war year: this despite the great increasc in ploughed land. Buying Poultry daily, also] killing plant in operation, Dec. 1st. Two cars of fertilizer dud to arrive in a few days. l E. J. MacDOUGALL, i flgllpflgm “M, ptoduc ivity that will be pos- I am tonfidcn‘ that you. as $1M m“; 3910f“: u aged‘ a aibla only in a healthy vlgcr- proprietors of ille Bank, would Vernon 'l o u; mmugmml m. Olll and flexible economy. we feel that it would have been ponder, pal- lg u" Qowlnmwz shall be in slut need of lh- remiss on my part if at the . -—-—-% ‘ directly or lndinc , l; to "m" itiatlve, imagination and ln- proper time and place. I had contrgl of the on e or vo mun leniusllu ‘Andfasdlve failed tto scrawny” views. This fecili es of me mum _ us our p0 ca ree om seems o me n proper unportanl. element inryprauch m and our economic future, we time and n proper place" l 6a labour cannot possibly hop, m“ Inuit guard against the I n glgmglltwlrtgngnflflon lmolnq doglrlnath thatt wthe blvvhyl t0 l B0—kGl!Dl‘ll0 w LSDlllna at‘ Y E Q ' I ovary In eve e p05 - ar o ec ves n o Moll res nua bloc the wo ‘t’ e we seek is to confine the Carl- ‘ Meeting. our yes facilities for about 1.200.- under these head- ings. This increase has been ac- companied bl" an even spotter rowth in the volume actions handled "In the loaning field the B buTaEE o“ . accommodation. I m”, . has bpli d, with Govern .nt Phil-lon! the has is that of ‘lg. co-opzuratioil. the necessary {mos 5mm"! “hi!!! of action. ll . to. finance operations of a char- Oovernment aulreme not on] unlify for banking assistance. the field of legislative powerful‘: q "In all of these Operations we Mponllbllltleu. but in the hlve little or no criticism from ‘i! “lung; "Wllllfv lhd f those who use our services I "l ""- llvollld hlovltlblvmem should like to pay a tribute to our tlon in thcoe difficult times. of trans- at our branches. snk aqter that would normally hardly customers nnd to thc public gon- orally for their cheerful rn-cnera- full employment material resources- of human appears to be past, with consequ- practical purposes, n. condition of and This does not mean that more intensive use of existing resources could not result lyrllltoh. aches. one llysu an la of strain - eyes or diuincea - consult cl specialist ' r with yeun ln some additions to our aggregate ,l",',,f,’,",,,,," - gllllmall. output‘. It does however, suggest [Qh-‘pflnl “fol”, tltlalt .01" the duration of thc war c." l“ “d ‘mo. "u a east. any veiv marked advance ‘mlculllr. Wm‘ M. “an. n” in one branch of industrial pro- "Mlnlmmu . »‘.*.:.°.;1:"'.l= “.29” l‘ "s: - - e o el- cpn me of the economy. Already lack G. F_ '1 of manpower has affected the I output of Canadian industries. AND SON such as gold mining lumbering _ curl newsprint. l0 IIUTGIIbSON q "The- pcricd of huge additions to U- F- "UTUHBSON wartime manufacturing plants