< i l l ‘ ‘jiltlletlc-or pathetically humorous _ no defence against an accusation ‘ ‘lion of rclllvlnir. ‘put the motlion and 1 covered that the motion had been V‘ 13118 (lily. 11* a number of Conserva- 1;' ' tlhls '0‘ lllllllll The Public Forum IIUQIIQIIIOIQHIIU ‘ of n ‘ _ L ‘_ Dun“, qnosvlou nl inmost. The " uuusoammluxm-qlsso. "mm-W" "W111- 4»- upl Infin- Iunm. \ Annu- llltol. n. I. cum H‘ I'M-Iv"! "hm flu or- ;" ‘w! IclpnsQflvI-Inli I- Invfiup - 3 1'1." '1 """WM’I\I- ' ‘ '1 ' ‘g 1351"!‘ "WWW- ‘1- 7"“ m+~¢~<~+m~a~<+a Ejlllllllllllllllllll ll ' JNOTHING 1 Tilers 0s something lmmorously qabowt ‘the ppnesent situation in 0t- wa. lt has long been recognised in the devious and erratic course f human alfalli t-hll". where there is _I,he, safest course ‘is to say nothing. This principle llinds a sort of left landed necoglnltlon Ln law, the no cased ls not required to give alny trellllmony the: lmziy lnclllmipate diimseif. ' The collapse, lust Trlday. of the gsbale on tube address was an ex- mple of what occurs ‘when the ac- ‘custd take wefu-ge -lln ‘the cave of 1 ilbnfe. Conservative speakers Jmretl b0‘ government on many points. or ‘practically every point in its administration. A ‘minute or two ‘before six o'clock the la-st Conserva- tlv; speaker had shot his boll into the cowering Libcral ranks; they wcro tspzcclilesrl; the ‘Speaker be- ll-cwng the Llberals had no in-teu- . \ . , ft was curried. \\ hen ii was dis- [rlltta-ll-Sr 6 o'clock and therefore ir- rogular. it was ‘agreed that the de- ‘bale would »be resumed ‘the follow- tlves itviéhell to have ‘their say whcther the ‘Liberals spoke 0|- m); Aft-er all, wha-t has the King Gov. ezlnment to say? Canada has p35. 98d ' brough four years of ‘the worst ‘buslnt-es and industrial depfgggign I This wa-el P1111111)’ anti fearlessly stated by Conservative speakers and there ' was no response. ullcre was no de_ the CDll‘l‘l‘l‘y has ever known ~~ LELVTWIZJSDAY, FEBRUARY 17, 1925 p he lbelieved what. he ‘prophesied 811d fol- public condemnavlonf Probably w“ ready to perish w-lth iris (81- low men in the cataclysm he D15" d-lcted. There are others. When the 1'9‘ suit of lthe last dominion electiion was a-n-noinoetl. an ardent Liberal was heard lto thank God that the Golden Era ‘had at last dawned ul!" on Canada. And this particular 1.10- eral was but ‘the dupe of lprophet-s. Do we not. all rclircnlliler ‘the "un- bounded prosiperlty“ predicted by Mr. M-aicloelizle King- during ab‘? campaign of 192l.—-lf -the Liberals were returned to power. One Llb-' erai member, now n cabinet minis‘ ter, Went so ‘far as to "guarantee"! the convlng of ti-h-e Golden Era if .\lr. King and his party were returned to office. Hon. Dr. Bcfand more recently declared-and his declara~ tion was iheralded as the actual sun- rise of 42.19 Golden Erik-that "(Will-V ada is on the ave of a wave of pros-l parity ‘the like of which we have not known for fifty years” Well the Golden Era has not yet dawned. The liglht, mistaken four years ago for the dawn was ‘but the gas damp of hungry politicians and false prop- hets and the real dawn wltlllnot and pear until they (llsappear, an event which. we trust, is now not far off. I I l I i-<+>————-—- IMPORTANT ANNOUNCEMENT "The attention of the ‘investing pilhlic is‘ directed ‘to the anouncc-i iiicnt iii this issue of the sale of 31.500000. ‘Seven per cent cumul- fcrrell stock of the Fraser Compan-l is Ltd. This company has been ln' fence. While thousands of Cans. ‘1111115 “"1"” (‘Tyilllrlfor bread and work, said n-ne of the speakers, the lflll-lne Mlnisirr was giving lthem - sda-lislici-oli cxiernal trade! And ulcll ulzlliot live on staz-lstics! The Cause of the debacle int trade and in. 11.1.1111)’. it was charged, wasutlhe tprlff ulllkerlllg of the King G0“ 1111111 11111 1111? one ‘try to. Statis- ,,ios. yes. volumes of them, gnawing the increase ln Canada's fol-gig“ trade.’ if the amoum or lpulpwQod the export account m“; figures queptl y quoted. Statistics . 37.1w” WM a“ "91111111111: have lbeen given ‘by the Government but no 911° 1111!‘! ‘Dfl-‘ld lmuc-b otltention lto W9‘!!! and few have lbelleved lt-hem 5° “W” W88 no defence of this and silence was resorted w; 111m was a significant 0.1.... session 3,130 whom a surplus. Even the Speech from the Throne “m "N11111: about if; 1., ‘ l l. l r. Wm 111° ‘remelfllbeled that. certain “WMW” we" "M upon the all- ‘ Nosed 8111111111“ "1 189% War, so much . p0 llbat nothing, mo, eve,“ “new pldyment and ltlhe Q1151, m,“ of “W h‘ coum 31701166 U118‘ fllnlge/r o’ ,3 . _. surplus, government. it will be Te. wfmlflred. had borrowed some WILOMLOQO and, l“, ave,“ addmg m .. the Canadian -Nalilonsll debt" charg- 411 4N0 the Canadian lNatlonal Rail. ‘as the ., 1.1111181! are naturally .1110“, e954,"! endured ‘la silence ttllian d9. ‘than in speech whlgh mrlgm My lpn-t when are the peoplgr to do mo: m lvnzolcrlono 1 “'1_'.1°"°wma‘rom0nor0ur {I00 was neatly dimmed over or, lzffillluttionllhatthsgqqume "w," "'§°°°meuncoertmsrgug '1l0'Q00l- Soulohldpt-spgpdgq V. "- UH Whstl It fflld to “I'M, “"""'"Mvdrol|»wumm " vac-Quantum. ' m, V. successful operation for about Sdhope or rapidly increased pnpulwl years during ‘which ‘time it lgrew ‘a plant consisting of two com-plate [bleached ‘sulphate pulp mills one at away? ‘mileage that had been alive redecmalble convertible pte- 101' 1119 111°" l11'@'119111 1199115 "1 1119' ll’ their you give lire licurt ii lltt BUYING AT" HOME Sin-A good dlial has been writ- ten unil published about our pso- ple sending away their mcllcy lu foreign catalogue houses, and l qll. te alrrce with all that has been said along t‘h’-s line. for thr simple reason that it is not “(able to do us any o.her good. We all at times have occasion to send for some article not kept locally, bu: why should we seiid Have we not got right here a house that ‘keeps every llll“: f..llli a lit‘ tile to an anchor. i iJcr lilcssis Holman & Co. goods are rcl able and very often are iiiilcli more satisfactory than that got further away. I say, give ilcssi-s Holmalis the buslness and they will no; lct your money rust. but i. \\‘.ll crap up all around ii-s ll. u hundred illfLzetit ways tliilt w. never could get frulii ally for- tlgii establishment. l alllfsll". etc. BENJAMIN CLOW. Iliiiiray Harbor North. bows by Th6 Way ‘Two things earnestly desired and sought for in Canada are reduced taxes and lower freight rates. Wlitlt are tile prospects of obtuill- lng one or‘ tho other at all early date? ‘l he immediate outlook cull- not be said to be bright. when trade and industry revive through- out the world, as must come about ill time, the reduction in tiix bill‘- llfbat E010’ 0f , £00m s; In» w. Ban-n. Ill-Bl, BLEEDING THE svsrzm‘ " _ it must. be ‘interesting to some of the older members of the medic- lhe things that were used ln'- the treatment of the sick in their vniiilger (lays. pass olit of fash~ ion, and then collie back again’ to be used evcn morr- extensively’ Ilulii before. l have in mind the lllll tcr of bloodletliillz; bleeding as S: i=- czlll~ ell. .2»; llFllFlY pa we have any history i-f ziic-tllcine. bletiiing was ll“C(l for lilc relief of symptoms. ' be use-d again iii emergencies bu. rimv it 2:; ll recognized treitilivli: for heart conditions in a numb-i‘ of ullllleliis F-lilie of our older folk wltli v-‘ry lliyil blood pressure. now have u .'lllillJ(!l‘ in‘ ClllllL‘ ‘ 0i‘ blood remov- w! li'0lll tllcir veins, They secure a ..i..'it llv-a-l oi‘ it-lict’, ilnil that: ri- l.il' ‘ass fol weeks at ti {air-n lll asthma lt relieve-s the cili- barrasscd ilfait. and llkieivise in convulsions, uild zicille alcoholism. [luring tlic l“lli cp ilcnllc ill 1918. wlici-e the iiezirt was embarrassed by tire brolilehu-pliculiltrliia which oftrii followed the flu. llloodlctxlnl: or vivlsection as it called was ll-ifll ’;o a considerable exrciiL. ll: pneumonia proper, in u good healthy individual. ii is riot tin’ usual to do Ll vlviscction at the vciy onset of the trouble. dens may be hoped for. But the in- dustrial _re.ival throughout tlicl world that ivils 9" optimistically predicted tlrre-e years ago, lwo The quick revival after‘ wars could not be repeated tlie greatest of all Will's. previous‘ after‘ The great war burst on the vvorld; when Canada had a vast railway] built, lint Now what is the idea behind the bloodlletlilig? Just tliirt the licrirt is simply’ a iliuscillnr pump, and ll it has to beat film. and pump u huge llllllli- t.ty of blood, it may tire out anti lyea“ 115°‘ 0119 Year a5“ 311d 1111119 qul; work. it’ hoivcvci" you take a ‘recently. 81111 M11188 011 its ‘WM’. nulnbcr of oilnces o1‘ blood out of i119 uysteln. say a ‘liulf ll pint to a pint and u hall’. you (tfifl we illllt it has lllnl luuch less work l0 do. ‘Pile heart l: the big factor. the main thing t0 watch lll an lllll%B. 'i'llcrcr‘orc if the patient is lying down alll the tinlc, the heart has a grczr. llQdl loss work to do- than ll he bc s ttliig up or walking around. country. but for the future lc uiorc rest b)’ B‘l\'llig 11- 11 111119 ‘““‘ "“‘ ““'“"" "_°“‘“"f‘_°“'l§T.Zll‘1”l1§.t§1-"fllhli ‘will L3.'1-‘1‘.}“. 1 1m was 1109911 1°‘- e fair-tic coining on. i4~<4a--—-—~ l l‘ll ll it: tion nnd paying railway 110m II $111816 11111111161‘ mill oil l116‘pr0ved to be disappointing and tic-l l r , . St. John river, New Brunswick, to lllslve_ Tile National Railway pro-i ‘dllced operating deficits instead of surpluses. Ilnilwny deficits must be made good out of the current rev- xooo-oofko-fv-O-O i . Daily Selections FOR al profession. to see how some of“ Just a few years ago lt U1‘-'_-(flll in _ 1 NEW ism Desrrip Fraser Companies, years. The in Quebec and and cedar saw Mill pro mills —- situated in all taxes, bond and as above. 4Q“ Appllcl ' I . I‘. Preferred as to capital and dividen First Mortgage 7% Cumulative Common Shares. . . . .. . *—-of Series “A”, 6%. Limited, is one of the largest manufacturers in Canada of bleached’ easy bleaching and cedar shingles. The business has been in successful operation for nearly 50 -‘ ' l be 1 Sulphlte pub’ spruce um r uable leases of timber limits, which -—_ together with timber areas owned Company owns val aggregating about 210 Restlgouche, Tobique, _ New Brunswic rties include a bleached sulphite pulp ll at Chatham, N.B., the eastern portion 0f Quebec and New capacity of 124,000,000 feet b.m. lumber, 158,000,000 shingles, l The Company has recent] acquired 250,000 share 1 capital stock of Stetson, l . 7 17,. First Mortgage Bon _ _ _ _ 2,100 square miles of leasehold timber limits in the sawmills, with a capacity of approxima Fraser Companies’ timber limits, plants, properties and other fixed depreciation, depletion and First Mortgage Bond Stock now being issued. Net current exclusive of investments having a boo _ Accountants, to be $3,511,873.31. Combined fixed Bonds, are therefore $11,648,761.03—equivalent to o Average annual net earnings, an easy leaching sulphite pulp mi limits, but before depreciation of inventories writte able for dividends for the six years ended D to $410,504.13 —— equivalent to three times t Net earnings, after operating and maintenance ex depletion, for the year ended December 31, 1924, are certi Having purchased these Shares, we ofler them for delivery if, as and when issued and received-by us and subject l0 the approval of our counsel of all proceedings, at—~ ‘ 97% and accrued dividend, to yield 7.18% will be made in due course to lint these Shares on the Monti-all Stock Exchlngs. The above stun-manta are not guaranteed, comment. and no [liberal could deny ' Edlmmstom 1N‘ B" and the “her at>elllle8 of tile country or added to Chatham, B.. l2 saw mills, sev-Ithe public debL This has gone on on shingle tmllls, fou-r planing lmllls. [or yearg pasL Guardian Readers 111-1141 raw lumber was llaken out of .w°"1d m” be 5° readily or so fre- _ have new‘ gdven- '11“! ‘by 11116 K111i; BUVBNI- 1119111. of Liho number of Canadians who left ‘tJhs country during me 1"“. 1111“ ‘wars. and smtlismlcs pur- 1791111118 ‘to show lhle nu-mber 0f ybttllllflfififlosfllfilwtblfom; a ‘transit planing mill and holding by purchase and lease 2,189 .5(]llfll‘€ miles of timber limits. The com- paltry is still furtiher enlarging its Securities Corporallorr of lllontreal- Town-to, Halifax. St. J-ohn, Ober- iobletovwn, Winnipeg and Vancouver who give ‘a detailed list of securi- tlos and highly recommend bonds as an investment. EDITORIAL NOTES There is always ‘the Circus uny- way to make us glad. ‘Now ‘ls lthe time when people's thoughts turn to spring cleaning, painting and pirperlng. Hot ‘pancakes lfor ‘Slhlrove Tues- day are to ‘be a special feature of the Dre-Lenten fleas amd At Homes. Many a. lbird fbrlngs more than a dollar lto pay for its feed lllhough not so ostenmtllously as the one herald.- ed from ‘Ottawa. The sudden tha-w found‘ few places lbetter prepared for it by drainage and otherwise than Char- lottctown. ‘The Montreal ‘Star dellghlis in minimising ‘the successes of the Rt. ll-lon. Arthur Mel-ghen. It ls ‘merely n case of "the Star not TOVlTltK the Liberals more lbwt loving Mr. Meig- hen less. The Liberal Government resents tlha continuation of ‘the debate on the Address at. Ottawa.‘ Now ‘it l-s evident why it ltrled rtlo closure the discussion after elx o'clock on Pri- dsy. it does not whh lthe country to ‘know the truth. Marshal Cameron will he greatly nvhssd ‘in the Province forhe has discharged bib-dudes with the great- est faithfulness and satisfaction mo Ottytlounolondlwlvhfhetnlni- .‘ ____ Why nllollld the province; 2m colo_ do - '~.._.__* limlflnu mm 0t mule-tun mm often 1 .. ‘i. A been don‘; one of the “inetl-tutlons", of the city. His position was furl from an only one 0o fill. yet he, | At present the demand for lower dreiqht: rates west and east domin- ‘ates the situation. The West in‘ sists on rates as low as those of lenforce its will upon the govern- |melit, if so, the East must be com- lpensutetl by like concessions in rates. This means loss of railway revenues and increased railway the deficits which must be mudc good-d" by increased taxation. Thus the vicious circle is maintained it will be but a poor relief that. the court,- try can gain from lower freight rates at the cost of higher taxation. That ls, however the present out- look. ‘The only hope for reduced tax burdens and lower coat of living Ilsa ln reduced expenditure, That line the King Government refuses to take. In a country loaded down with non~paylng railway mileage they lnslst upon building hundreds of miles more that have no pros- rpect of paying the expenses of their operation for long-years to collie. And other new expenditures are in prospect tn be added to the fixed charges of interest on the public debt and the cost of carrying on lthe piibllc service which cannot be got rid of. To the cost of new rall- ways ls to be added a million or more annually in subsidies to ships and to this more millions to recoup Home Bank depositors for their losses, I It In not a new thing for depoul- torn to lone by a bank failure. There have been many bank fall- ures by which depositors have silt- fered losses since Confederation‘ land had to bear their losses as best they could. The new feature is the proposal that the Dominion Government should undertake to |repay in whole or part the losses of [the depositors in the defunct Home Bank. it was an Ontario Bank. if the rich province of On- tar-lo should come to the rescue of lthe depositors as the province of ‘Quebec did recently in a similar case there, no other province would complain. The proponltliat the Dominion treasury lhll pa! means that the taxpayers of all the lprovlncas shall be levied 0n to pay lions: mainly local to Ontario. l, I !--v~O~O-O§§O4-§§-O-O444§O§‘O4§O:g , Ammlg‘ the LOdgGS 1, FEBRUARY 17v 1925 1 'l‘llls’ guson of the yczir secs u 1 revival interest in tile \lll'l()ll-‘l l FRPITAGE ‘OF SECRET PRAY- Ellz-diiit thou when ihoii prliyesl. clilcr iilizl thy closet, and when tlioii bust shill thy floor. pray t0 plant. ‘The above -block t.’ bondsuhe Crow's Nest agreement and up. my Father which is in Sear“ and has lbeen purchased ‘by Th1: Royal P11101111)’ 11118 111111181169 911011.211 l1 ,tliy Father which secth in secret lshulll rcivartl thee opciily. For your lFnther knowetli ivbut thugs ye ’have peed of, before ye ask hliii. hlultilcw 6:6. 8. PRAYER:—O tllou wlio art. life love we, bless liice for the key ol’ Prayer. freely given lo cacll of us. atid which unlocks tor us the treasures of thy heart. A FIRE OF PRIDE We should wlllk reverontly who walk abroad Upon the laud our forebears cleared of old- Thcre, by yoll little creek, a chapel stood, ' Arid here is hallowed liiould. We should with thnnkfuluoss be- hold the fields And lriiltfull orchards leaning lo the sun. And think of them whose courage, strength nnd faith These from the fore-st won. We should walk humbly. we who know the tale,» So truly told of those old pion- eers; Moved by the living words at times to Joy. At ‘times perchancc to tears, We should walk hilnibly for oiir lesser selves; But 0h, from east t0 west. from sea to sea. in us there burns anew a [ll-e of pride 'l‘hat of their blood are we! ERNEST H. A. Hl-OME. --—-<-o-o--i A SONG OF HATE. Oil. busy Whirl of Things, Creation of tilc- Devil. I hate you, for whenever my hcnrt sings You lry so hard To crush lt to your level! Unlmportan‘. Li. BARON COOKS. in ‘*Shlldowlantl" FEBRUARY 17-—Men will wo- _mea born. on- thls day allow wide diversities of Character. You may be forceful. determined. svoli ag- gressive, carrying difficult affairs ‘ through to the bitter slid. wliat- ' ever the cost to yourself. 0r you may be highly artistic. dlsll-Illng 1n- tenssly oval-min; ml bully and sordid. It may be pain and grief to you tn be ill p. mom whore the flog perfectly incl-moraine- ‘utld'wova' ’ under favor- (gonmmqq u, p”, y) ‘ "Jlilo dalfditlonl. no llolncdovora. lfihfillllll societies. The festivities of Christmas and New Your btlilig over, the members oi the several glodges are devoting their sutrgics to social events, degree work ctc. [hiring the past week so l of these events have been licltl, llll'lllll~ lug entertainments. card drives. social gatherings and the rciicwul of lodge acquaintances, ILodge interest is at a high plicll at present, as will be scell by tlic items covered iii this column. it is the Gitardlan’s desire to give ii column of happenings of the tllffcr- ent fraternal societies from tlulc to time. Knights of Columbul.—Ori Moll- day night of last week, this lodge was highly favored by an instruct- ive lecture eloquently delivered by Mr, Justice. Arsenault, his subject being, “Th6 Expulsion of the Acad- lnull." Zllr. Arseuault also referred to his recent ‘visit to the Southern States. After a. few remarks by Grand Knight F. J_ Casey, Past Grand Knight J. A. Lilo-Donald, l“. McPllee, Wm, M. Flynn, H. Fltzgei" aid, Joseph MoCurey and others, u most. enjoyable evening " was brought to a close, Wlldey Lodge, l. o. o. H; This lodge is planning for u big term. Under the direction of Mr. OFUCQ Gill, Noble Grand, the degree team ls..maklng rapid progress. 0n Fri- day night last the regular meeting was held, and after the close of tho session a ‘Card Party was held, The grand prize, donated by Ml‘. Hugh tidloKay, was won by Mr. John Mc- Laughlln. Knights of Pythln.—On Thurs» day evening the regular meeting of Empire Lodge, K. P., look place, tit which meeting the committee on entertainments was appointed to make arrangements for the celebra- tion of the 25th anniversary of tlie founding of the lodge. Mr_ Walter Smith, the recording secretary, is having a busy time keeping ln touch with the lodge. Son: of EflI|llld.—Th6 ceremony of installation oflofllcsrs was at- tended by a social evening and card Dirty, which was greatly ‘enjoyed by the large number ‘of nfembers prolont. The prizes were won by Brothers William Castor-d, lat; Ed mulld Carson, 2nd and ‘R. T. White, 3rd. These social events are to be continued from week to week ‘arlld often min-y particularly hap- 911- ‘ which mQnl llllcorlty. ‘Your flower ll ;- _ Your lliny c "an and 'O""\._... .‘. l"... a . ills ‘minutes of ‘this " ma» blrth-stonejll .;.....-.1.l..... live circular, copies of which will be supplied upon 19111461» “"1145” a m!" 11'9"‘ MT- ~41’ fhw- F1418". _ President of the Company, from which the following ls summarized: p - CAPITALI ZATION (Oil completion of present flnmclll) Sinking Fund Bonds -----¢~.~-.--»-¢¢- square mi Mlramlch mill ds, due 1942, of a valuable assetsasat bank in ecember Royal Securities Corporation, Limited J . R. PATON, Manage r,Charl0ttetown Branch Office, 132 1-2 Great George Street. but Ire hosed upon inlormatlonuvhlch we believe to be reliable and on which we scbed in purchasing then securities. Alpha Rebekah v Lodge.-- Till- Rebekah sisters are vcry tictivc j-iist now \vltli degree work nnd soc- ial cvcrits. 0n 'I‘ue.~l(lziy lilglit oi‘ last week tlicy lielli a social even- ill); consisting of ii program ulitl Auction Forty-fives 'l‘oui'lluiilellt. The prizes were iiivartletl us fol lowszlLudic-s‘, lsl, Miss ‘LHlll .\lt-- Qllflill; 2nd, Ali's, Jolili ‘.\l:ic.\':iii': Geiltlemerfs, 1st, lNlv. \\'lllizilii Darby; 2nd, Ml‘. John Lnlilicr-i. Tlic nliislt-ill program ivtls well curried out_ Sister Rita llniviitf l‘€lltl(~.l‘l:ll 4' stilt) which wits lieurtily ilmlllllltlPll. “u, ills was tile solil by Ml‘, ll. L 1l\'ee_ A duct lly slum K. l.\lll-’.l\illl‘ anti Mrs. R. l._ Molten, and one by Sister‘ Aiililt- Stewart illltl Mr, 'l‘.. W. Bentley \\'0l'0 wcll received.‘ bliss Filiiuysoli, Noble (lrtiiitk pre- sided, Si; Lawrence Lodge, I. O. O. F.—. Tile first. in tlie history nt‘ tlil.<| lodge of‘ Roll (‘rill liiiii Rzlllv Nilzlltl was held last .\loiillay night, with‘ upwards of oiic lliiiitlrctl present. Noble Grand, ll. Gorilnii Lcltt-ll, lil- viteti tlriiiid Secretary ,]_ J_ ,1“... Kluilon to the chair, fitter which roll call colilmellcetl. Financial] ‘Set-- 1'@1111‘¥ B. f‘. Vliilltlerstine rciitl letters of response from about fifty iibsent members. who expressed their regrets at not being able to be T. W. Bentley present. Brother " $1,500,000 Fraser Companies, Limited 7% Cumulative Redeemable Convertible Preferred Stock ds. Dividends péyabie Jlllllllf Redeemable Convertible Preferred. . . . k. Timber areas are estimated to con logs and 4,998,000 cords of pulpwood. s of no par value “Common Stock, being _ utler & Company, Limited, giving it control, subject. b0 $2,500,000 of oulJSf-anding and extensive lumber business operatin approximately Provinces of Quebec and New Bruns ck, and several tely 60,000,000 feet b.m. per annum. s, of $8,136,887.72, or December 31, 1924, including proceeds of k value of $930,017.70) are certified by George A. Touche & Co., and net current assets, after deducting First Mortgage‘ based on the annual earnings after deducting operating and maintenance lzxpenses, terest, and alter deducting depreciat n off during the 31, he annual dividend of $136,500 on shares of this issue outstanding penses, all taxes, n“. . l‘ ' - " ‘a . r’ Redeemablsut the 1, April 1,1July i and Oetobo 1. _ ion or voluntary at the same price in the event of liquid: Companxlfslglrlltéoslit 12Qfxllxitlagllglvlfilllgilfhglllf 1885312682,)!’- Registrars: Montreal Safe Deposit ornpsny. . Convertible into Common Stock at par for par at any time at the holder’: option. _ , 4'» . Authorized Ouhhnlllllflatyj,“ ..-..¢ $3:5o0r0o0*"l' 1 3,000,000 000,000 - , |------|.»-.----- 10,000,000 10,000,000 in fee, les — total over 2,189 square miles, situated on watersheds of_the St‘. John, i, Madawaska. and other rivers tributary to the Companghprlncipal plants tain 1,892,000,000 feet m. of spruce, pine at Edmundston, N.B., of 42,000 tons annual capacity; of 16,000 tons annual capacity, and.,12 modern saw- Brunswick — having an annual ‘manufacturing 200,000,000 laths and 100,000 railway ties. all the outstanding assets have a book value, after deducting 4.17 times the amount‘ of 7% Preferred this financing (bu; ere ver $597 per $100 share of 7% PreferrediStlock. ion of fixed assets and depletion of timber deflation period of 1921 and 1922, and avail- 1924, as certified by George A. Touche &‘C0., amounted bond and bank interest, depreciation and A. Touche & Co., as $336,917.48. fied by George was their called upon lmd K111‘? =1 beautiful solo which was heartily cllcorcil, Brothel" J. F. Wlletir was Scuttle-r spoke briefly on llio pro- grts.‘ o1’ lilo Order. All illiprolilpiu progrzilil wilt-i llicii carried out, pro» C. M. Lampson & Co. 1 64 Quun Smut, ‘ London, E.C. 4.. England 1 Public Auction Stiles of " Raw Rcpravrnlcillby Alfred Fraser, an Fifth Avnuu m» rm‘ l tlioii pvcsentcil wltli ii Ptlst tirand sidctl over by ‘1’1‘111~ F191¢11911 ~\ nl-‘ilstcl-‘s Jewel, Ill-o. Edgar Sliilw pleasing feature of tire ovriiilii: ‘ favored the lodge wltli rciitliilufl. was the presence 0f Muvm" Niv- wliile Bro, John Zllclniuglllln gilvn qKenlilt and the members of tlie City a tr-iv ilistruirtlvc i-eliizirks on Odd (P01111011 H8 llilefllfi 0t Si. llli1\Vl'(*lll'.0 Fellowship. l). ti._ .\l. Tlicn.‘ Lodge. DOMINION LIFE PROGRESS during 192,4 shown by A Eafoblinhed i989 36th Annual Statemenf ASSURANCES in FORCE......................$72,570.B73 NEW ASSURANCES issued .............. "$14,950,546 INCOME ......................................... ..$ 3,047,221 ASSETS . .... ...... ............ ....................... ..‘$11,003,645 _ RESERVES ..................... .................... "$9,066,880 Write for a copy of the Annual Report qpDomlnron urn ASSURANCE COMPANY Bead Olllce: WATIRLOO, Ontario v-vwil v JINSIIRANBE a the ‘modern ufelluiird of Hqlne and sunlmu‘. Hi" 11°" availed yourself of m mafl advantages? ' u; Our representatives lro nlvvlyl muffin.‘ to you-qlhdne or write us, '1'" " llylllllllall 8r 60;: ElTAlll-IOH-ED Insurance of all Kinds l! Lowest Rite toourlty and Carving; Offices-Oi OHOIII Quint ‘ I Y foiuhliono , k F‘, ..