.-.'-**'~.-:.-;1* . ._.....\:. , “L... -. ska :39,» f .._y___-.ssme-ae=...;._; f1 ' - ‘u’ ‘l w DALTON SANITARIUM SUMMERING AT CAVENDISH x GRAFTON STREET. CHARLOTTETOWN ________§_____,____._;____n_ a, .___._, . ._ 1' ,., “m,” s... 4, t q lity-qfly-Ii W. ~ _ -QUEEN STREET, OHARLOTTETOWN SIR CHARLES DALTON ,P>ioneer Fox Breeder. Donor of the Dalton Hall to St. Dunstan’: [ ' University. l in Silvglioxlndustry The rearing 0f silver black foxes in captivity, orig- linally undertaken as an experimental sideline in ag- riculture, has within the past few years developed to fsuch proportions that it has attracted the attemon iof practically the whole world. The story of its de- ‘velopment from the experimental stage, when, some -_ forty years ago, inthe western part of the Province, la few wild foxes were kept-in; captivity and their off- ,spring killed for their pelts, to the present, reads like romance. The details of this wonderful story have ibeen written authoritatively, the bona fides of the lindustry as a commercial proposition have been in- ivestigatcd by the Royal Commission which visited lCanada in 1914, and the evidence submitted on oath lby competent witnesses has been published. Suffice it to say here that, in the first stage of the- industry the problem of domestication was solved and- the modern fox ranch created. The production was small and the rewards were gathered from the sale of pelts. Beginning in 1887 this stage covered a period of about twenty years. The pioneers made good profits owing to the excellence of the furs pro- duced. I The second stage of the industry began about 1909, when the demand for breeding foxesbecame so in- sistent that the owners of foxes rather reluctantly concluded to sell them alive, as they~were able to do to a limited extent, for about $3,000 per pair, some pelts bein also sold at good prices.‘ In 1910 the price of si ver pups five month's old rose to $4,000, and in 1911 to $6,000 per pair. Thus far the busi- ness was wholly in" the hands ‘of ‘individuals and partnerships. In 1912 the first fox comlpanies lwlere chartered and prices rose to $10,000 per air. The flotation of companies was found to beprofitable and a period of speculation and inflation set in. The trade in options became extensive and in 1913 prices went up to $12,000, and in some instances as high as $15,000 per pair. During I912 and 1913 many companies paid very large dividends to their shareholders, averaging 50 per cent. yearly over tihe entire indus- try, and rising in some cases to 100, 200 and 300 per cent. ‘ ' In 1914 the silver fox crop was till then the largest in the history of the industry, nearly 1,300 being born and raised. From the beginning of the year prices showed a tendency to fall off a little, yet a fair num- ber of options was disposed of at $10,000 to $12,500 per pair. The war which broke out in August, witlh its crippling effects upon the financial wlorld, caused somewhat of a slumlp. ' Many purchasers of options were unable to carry out their agreement. The com- panies were left with unsold foxes on hand and could not pay the handsome dividends their shareholders had confidently expected. " In all about $1,200,000 was paid in cash dividends in 1914, equal to six per cent. on the $20,000,000 actually invested in fox breeding, of which $15,000,- 000 was Prince Edward Island money. The actual earnings of the industry for the year were full six- teen per cent., of which six per cent., as stated‘: was paid to the shareholders, and the balance of ten per "Qllt- 15 Peilresented by additions to the ‘breeding stock in the ranches. ' ‘ ‘ other considerable liabilities except thir capital, ‘they Silver Fox industry; is Our i Second Greatest Asset AN txcnrnoxou. FOX’ - drug mwfwlmiélllhtfiff! . a ‘r ' . \J§"_ . wxreume Aivlfiflbki R Silver Fox is thz ’ G Tl E Dianni to.’ ti: Aflmll Ki ubn enterpr-isqtheir first investment being about $55‘ 000,000. The large additions made to the breeding stock since has had the effect of greatly increasingl the producing capacity ofthe ranches, while propor- tionately reducing the capitalization per pair, both very desirable features. I The numerous companies are financially on a solid basis. The shares being paid up and non-assessable and the companies having no bond indebtedness or are in a position to c on production and even to "pay moderate dividends, even during this period of reconstruction. ‘ Those engaged in the fox industry count confident- ly on a quick revival when the fur market resumes normal conditions. 5 p The Fox Fur industry is now an international in- dustry, of which Prince Edward Island is the centre and pivot. Foxes worth j-marketing must be regis- tered in Prince Edward Island. Mr. E. R. Brow isl President of the P. E. I. ‘Fox Breeders’ Association, which has just issued the "second edition of its Pedigree Book. . l . 6A1; slrgavxr isncp /__. ~ @ <1 srsnocmm-sscmxnr Anooon II l romplotod my Stunn- nruphlu Oonrll. I ha! tho cholco ol Inroo excellent positions. l ooloutod the one that loaned to nlnr t but chancel [or advancement nlul llkod tho work Iron: tho nun. Wllhlu three mouths. III! color! Ill ndvnnood voluntarily nnll I continued In pronoun. Incoming Prlvnto Socra- tnry Io tho noolclent o! tho onrnpnny nllor about n your. I own much u! m! nuecou to tho excellent tulnlnl o! the hujhl mo hnnlnonn _ 1hr! Ambitious. Efficiency Brl gs lhomotlon Young eople s ould not fear that their nbll ty wlll not be recognized. Em layers urn quick to recognize thnns nun lues ln their employes w lch mulsol assistants valuable. The neceon tor the work nchool lhnt nolhodl . nponslblllty and a pleasant readiness tn so In the desired promotion. - Invest! ale our courses and the york hon]. This will show you why our ntudontn nro so successful. ‘ Perhaps Mary may rllo avon hlihm The Union Corn- mercial College has placed hun- in excellent posi- tions. ' _ I Write today for Prospectus an d full informatiomlt may mean a grefat deal to you. Union _ Commercial College Royal Bank Bldg. - Ch'town, P. E. I. Wm. Moran Principal f , a iA Golden A Opportunity ! Vfirlly the man who falls tn Investigate tne Silver Fox Prince Edward Island is allowing a golden o For thirty years the farmer of Prince Edward Island has mentallon with these valuable animal-s un-tll at the present tlm ln 1921 these {armors received upwards to llve foxes and pelts. Many n funn proper ln operation iby this revenue. Considering that the farmer of the Units llve foxes raised and sold us a thorough lnveetlssllon by any person interested m making a The main thing (or rho beginner m remember 19 m,“ to buy quality animals. This ls lrue with all branches of the llve be parllwlarly considered before buying silver {neg Foxes bought from ms as breeder und are guaranteed highest quality. _From a Wlld Animal Life to Thll. o! n Domesticated Ono."- CHARLOTTETOWN, or the $15,000,000 invested in the industry by the Island people 1t is conservatively estimated that $10,000,000 ill/as made up of profits re-invested in the over flve hundred ranches most of those composed of pens bull-t behind the barns and m"! 78d 10 l llfloexlent on table scraps and meat which otherwise would be burlod a million and a hull’ dollars for their ll’ on account of last year's bud crop was kept d States is absorbing practically all the bwedm“ d9" ll Ml fllllwar as if the business ls worthy of stock business and hould i“ .P°"'°" c" 5° slwfifllflll N’ Qomlnenclng With Inferior Foundation Stock. s. are selected from llve ranches owned by me ll interested call or write for our new daooklel "The Silver “"65" S _E‘VERY FOX A ‘TRUE PRODUCT 0F BUPERIORITY Industry while visiting Dlwfllllllliy to pass through his hands by not taking advantage o1 ‘the new em or the industry. been efllfllged ln experi- e there are ln operation successful investment. acnleve success he must Fox-Its Evolution P. E. l. a y . . ls o! flrot lmpbrtsnco. but Initiative, 11-,‘ ‘dreds of graduates <