..______-i.- ' a raw sinynuan nosnnans "__ Miooeilaiieciia .__ Ufivv" a ‘shrank a v v v idvoflitlll! Rim-f-Payaiile In Advance Central Guardian locals, lssatcrnlocall-lo-Dorwcrd; events. Ic- w "M: Notices. Isa. per inch: Hats lnss. Clfill. ate-o 5e- psr nainc- Letters f Oondalsn 08c. pcl‘ inch; Notices-oi Thanks and Allllloctrtion, m. 1;: inch or 5c per ward. Other rates on applications, Fossils g u-i-w 4°,’ lb. or“... tea or u»... duos lie-In a Red Rose ‘package's’. AAA a a 4 aka AALAAIA a 5e- rer word; Western and Announcements and Coming ls-wwoosilnsismoriao. - of Floral and Spiritual Ofler- v Vwv v Lost MARE AND 110A]. P03 SALE. Apply Guardian. 4440-7-18-31. QABDBOAI-D. SUITABLE I'D! ‘mung outhouses, etc, 1o. per sheet. Guardian office. ti ma sans - A ruiNo m (icon condition. Apply 6 Stewart Street. 4474-7-10-51. pus sans - u... i-Arsns, a cents bundle. Guardian 081::- u I08 SALE, T0 LET, BOARD AND mom signs on hand at f‘ " Office. tf. p03 sans - as aonss swarm- lng hay at Tee. Hill, also good pasture to rent. Apply to Wm. Jleddin, Bouthport. 4410-1-10-21. my SALT FOB SALE-MADAG- ssh Hay Salt lust arrived. Earle Fisheries 00., Charlottdktown. d-7-1I-6l. r r03. SALE-AT DUNSTAIINAG! combined store and dwelling. Good business stand. Mrs. B. Phllipson, Box 56, Summeraide. . ddid-‘l-lo-Si. [08 SALI- FRIDAY, 32nd, Al‘ 130. Magnificent Steel Engraving, Walnut Sideboard, Walnut Par- lour Set. Oak Dining Set, Lib- rary Table, 'Dark' Oak Bed and Spring, Wardrobe. .187 King Street. J. A. MacDonald. Auc- tioneer} 4476-7-19-31. Boardcrs Wanted WANTED - TWO» DOADDI-BS. Apply 234. Richmond Street. 4480-‘1-10-31. accommodated near Charlotte- Addrass A. B. care- 4446-7-10-31. town. Guardian. To Let 1'0 LE1‘ - ROOMS. A APPLY Guardian. 4400-1-19-31. FURNISHED ROOMS AT M3 Richmond Street. 4458-7-18-31. FURNISHED ROOMS 0N UPPII . Prince Street. Apply Guardian. 4487-1-10-81. aooiiis ro mm wma orrwms- out board. Apply m Kent" st. , Oilllosits College. oaa-i-ia-u _-_€____________ Io LET - novel N0 11 norm \Pl'lllCS Street. All modern con- pveniences, garage eto. Apply on Premises. sm-i-ig-si. Wanted WANTED - TWO OI. TBBII rooms for light housekeeping. Phone 380. 4418-7-10-81. WANTED - ALI BOTTLES, ITS.‘ “d qts. Phone i101 or write W. Michael. Charlottetown. sliia-d-l-tf. [AIM WANTED -»l0- 0B MOBI.‘ acres good clear tlllllo. wood lot. Give location, miles nearest 11.3.. station. stores, church. school and Charlottetown. Buildings mint be in good condition and price right for cash. Address W. E. T. o O Guardian Office. 4892-‘1-14-1 iovpnrl Anvnsn aisnouaw. rac- clal - ""h- <1=I."§dso'iu“'i§§’°" mm“ Male Help Wanted BECOME IXPII .-.'l." “M's” our low "seat gm“ W“ uranium “mud” laoler Barbe 3L8.“ .1lcv.1 . FU'*~9AL.E ladies’ m“ m lad Gentleman's "I11. For "Militant for Ibya °"°°"hvrmtaiaarsalaaia the bu", r “a .=-~=...~.:-=-. y~=- -l- a 1c. naming K _ . umflsz-larioa. r. a. r. it _ L08’! - SKI-TEE BETWEEN VIO- toria and Charlottetown, marked "H" on right hip. Notify Donald McLeod, Victoria. 4473-7-10-21. LOST-ON MALPEQUE ROAD ‘ ‘ Milton and Marlboro on Saturday, July 10th, two hand hooked rugs with black fox design; articles of clothing, a ‘ ‘L covered insurance book and a black travelling case. Find- er please notify P. C Martin, Miscouche, or Williams dz Bent- ley Ltd, Charlottetown. ‘ 4462-1-18-81 Female Help Wanted WANTED-EXPERIENCED MAID for general housework. Apply Mrs. Giliis, 80 Kent‘ St. 4465-1-10-21 AJargs number cf parents and friends took the opportunity of visiting the Scout Camp atFair- view, Sunday nftornoon. Many complimentary remarks were pas- sed regarding the sanitary condit- ion of the camp and the neat ap- pearance of each camp site. It is a registered Scout camp and is bound to follow the rules of good scouting. Each day thcdiffcrent patrols are in keen competition to win the honor flag which is award- ed to the patrol securing the most points in inspection, which inclu- des, personal and camp site in- spection. After flag-break the camp follows the day's programme as outlined by the camp Chief, Mr. Warren. At the day's close the scouts gather round a. camp fire where an enjoyable, although impromptu, entertainment is put on by the duty patrol and a short talk by the camp chief or other member of the camp staff. Sunday afternoon an interesting ceremony was held when the foi- iowing scouts were admitted to the world wide brotherhood of scouts: Bill Murray, Wm. Richards and Harold MacDonald. Mr. Wm. War- ren, Camp Chief, Mr. R. C. Parent, Provincial Treasurer, and Mr. ma Drisccll performed the investiture. The following badges were award- ed Ambulance Hallo. Gordon Hyde, Lloyd Williams. Musician's Badge, Nelson Sea- man, Lincoln Walker. Athlete's Badge, Gail Vinnicombe Lincon Walker. ' Safety Man's Badge, Gail Vin- niccmbe. ' - , v Call Vinnioombe and Sill Tid- marah ‘ ‘ prises in the forin of books for their clever handling or tho Winning rope. The honor flag. on Sunday, was wonbytheIbxPatrolunderPht- rol Leader Iflcyd Williams. in the kocneat competition since the cp- aning of the Camp. The winninl patrol outclassed its rivals but by only one point. The boys are in- tondingio make today a 8004101" atlooontheiiookyhlflinm- metcntheof-herllilolly mttisywere 4'1"" °° andwerccordially WP \.. ‘I garding the quantity of certified ‘ seed shipped during the past year, ' and made s. comparison with the OPTIMISTI (Ccntiriuod from Page i) anceaheltnandthexewerefewof them that ware as pleasant to look at as the one they had received to- day. He stated that at no time did the bank hssitateto supply any amount of credit the Association felt it required. The meetinl was than thrown open for discussion by any who wished to take part. Messrs Fras. cr, of North lake, D. J. Thompson, of ‘rryon, J’. 1". Doyle, of French Village, Mr. O'Ksefa, oi Avondale, Mr; , of Dunstaifnage and onion took part in the discussion, One of the auditors, Mr. Moran, was‘ present, and read his report. This report is also published. Senator J. I. Sinclair, in moving the adoption of the statement, con- gratulated the management on the very excellent snowing they were able to make for the year‘; bu“- ness, and the careful explanation which had been made to the mem- bers , . This motion was seconded by Mr. Hamilton cf New Perth, and carried unanimously. ‘Election of Officer; The election of officers followed. ‘rho three retiring Directors were the President, Mr. J. J. Trainor, for Queens Qounty; Mr. 1-forace Wright, of Bedeque for Prince County; and Mr. Montague An- near, of Lower Montague, for King's county. 0n motion of Mr. Sinclair, seconded by Mr. Douglas Aitken and Mr. J. E. Munn, the three retiring Directors were re- ‘ ‘ ’ On cf Dougsld MacPherson, Mr. E. Howatt, of Wiltshire was appointed a, Director, to complete the unexpii-gd term of the late Mr. A. E. Dewar, who was rc-appointed to the Board a year ago. Mr. Kickham, one of the Direc- tors, expressed himself regarding hk position on the Board, and m- ported to the meeting the differ- ent recommendations which he had suggested to the Directors. , Mr. S. G. Peppin, the seed in- spector, gave a short statement, re- quantity shipped the previous year. He also outlined the regulations re- garding certification, and gave some helpful‘ hints about the care potatoes gshould receive at this um‘. The President expressed. his Sp- preciation to the Superintendent of the Experimental Farm, for the courtesy extended to the members of the Association, who were priv- ileged to have their lunch at the Farm. m. J. A. ciai-k in his re- ply, gave some very valuable infor- " ‘--- the a ,, or the White Grub in pasture and cat fields. This information was well accepted. BIRTHS HARRIS-At the P. D. Island Hos- pital cn July 1o, 1932, to Mr. and Mrs. J. E. Harris, a daughter. MARRIAGE! MACLIOD-MUBDOCK — At the parsonage Murray River, June 22, 1932, by the Rov. T. R. Cioudge, Florence Anne. Murdock daughter of Mr. arid Mrs. Laurie Murdock, Murray River to William Harlan from the_ Province, Growers’ Association handled two 5x‘! Eiiisiiciiii FREE with each ‘roll llna. 5 hp. and I paints i las- uis s prints aso Bills with order. Mail trial roll. You'll be dsildtedi ‘ INN-O. THE REID STUDIO MONCTON, N B This closed a. very agreeable and inte lng meeting. The attitude of the members was such that it left no doubt in the mind of the management. that they were back of the Association, and determined m“ "iii-hill! would mar their con- fidence in the benefits received by the Plow!‘ administration cf co- operative principles, as applied to farm Products. Report of Secretary and Manager The Secretary and manager, Mr. I J. W. Boulter reported in part as follows: "We have met today, for the ‘Thirteenth Annual Meeting of the P. E. I., Potato Growers’ Associ- atioa; and it is your privilege and right, to ask for and obtain any information regarding the business, which may not be clear to you in the financial statement you re- ceived, or in the explanation which I shall now make. “We do not wish to entertain any suspicion regarding the operation of the organization. We have nothing to conceal; we have always been frank. While the conducting of a co-opcrative organization, requires making public, many things which would be kept a secret by private organizations, nevertheless, we shall disclose to you, full particulars. “The year Just passed, has been of any since the Association was organised. We have seen in the past ten years, an industry which meant little or nothing to the Province, develop to one cf tremendous value. In the four or five years preceding this, the amount of business hand- led by your organization, has run into the millions. "The potato crop of 1981 was considerably l ter than the crop of l930.,Tha quantity of potatoes sold from Prince, Edward Island, was very little more than one-third the quantity sold in the previous year, From the 1930 crop, upwards of seven million bushels were sold. Of these, your Association handled practically two and s. quarter mill- on ‘- “ ' Of the 1931 crop, ap- proximately two and a half mill- ion bushels were sold, from the Province, and of these your Asso- elation handled upwards of a mill- ion busheis. The percentage of bus- iness done by the Association, to the total crop shipped in the re- spective years, was greater this last year, than fog- 1980. "With regard to the seed pota- toes, we have been advised that of the total quantity of seed shipped the Potato hundred and sixty thousand bushels more than was handled by all the other dealers in the Province. This the most difficult and most tryingi Maclaeod. Murray River. DEATHS etery, Summerside. NICHOLSON-Suddenly Nicholson. Funeral fictice osnaarskaa IMILAIIII Charlottetown and North Wlialh lhodoJD p. the Oainn Chief and his aaiisuuitii. Tbs Cubs were Ihm around the camp and showed amt um be BoyBcouts. monotsox-Ae noi- home. Belle River, July 19, 1982, Mrs. Nicholson. Funeral notice later. BERNARD-At t. Elcancrs, July 18th, Mary R. Glover, wife cf Sain- uel Bernard, St. Eleanor’; aged 74 years. Funeral Wednesday at 2 p.m. from the house to People's Cem- rlrnns-iit uiscoucne. It II. Ernest Peters, aged 32 years. Fu- neral at Indian River R. C. Church Wednesday at 9 am. Funeral cor- tege to leave Miscouche at a am. at later. ‘N. D. MacLean ' by the Scouts. The afternoon ed all M0 Q1110"! ill Iliflll other attractions and after in camp wltnloiid Drills. cook and, the scout Whfi “mp oiiiai uio 0m wm» back to the ferry bcwailins fact they were not/etdcnouait I (OI tor _______.___. niiu-ooiiumvariouiraosstimlv .......i-. "u... malls and stroll!- ailt dwe- J 88810 her home in Belle River, Monday morning, July llth, Mrs. Jessie information should be sufficient to convince you, of the absurdity of the many stories circulated during the yeah-that the Potato Growers‘ Association was not doing any- tilillfl,—-thdt they were out of bus- iness, and such other statements, talked of throughout the country, and discussed by parties who had no knowledge whatever regarding the operations of the Association. Storage Seed .' now deal with the seed pla.. ..l storage last fall. This is a very disappointing aspect of the year's work. Your management ncv- er experienced a proposition so discouraging. The fall of 1931 off- ered seine prospect for sales which later the dealers found they were not able to carry out. You must bear in mind, that seed is not handled the same as tablestock, It is distributed to the farmers. The farmers of the United States, are for the moat part, in a. worse fin- ancial situation, than we are in thirProvinoa. They could not pay their local dealer for the seed. Ho is turn was unable to pay the larg- er dealsr, to whom we sell. con- sequently, it‘ would be impossible for him to pay the Association. The banks would not advance the mon- 07 Ilainst potatoes. ‘Iherefcre, your Association thought it wise, to store - which they did, "The circular sent out in the fall, . advised the mambera Just what circular-was written, we expected have Jlready stated why this was "Instead of selling‘ 100,000 sacks, we sold about 40,000 such. We ask- ed for sioraseloacstotakecarecf 60,000 sacks. Our members were ad- vised to move, only the quantity they could not themseiver store. This advice they did not follow. but shipped. in some cases, all they had to move; and your Association was forced to find storage for 100,- 000 sacks. Of these, 40,000 aaoks were sent to Norfolk. The storage charges at that point,‘ are high, sold in the spring at 82.00 per sack, which did not cover the fined charges. You can, therefore, see ed on the cargo sold in the fall. "The last of February, wa "m; Mr. MacFarianc, from our office, to New York, and left him there until all the seed potatoes were sold. Mr. MscFarIane was in close touch with the dealers, and we be- lieve it was well to have him there. Ono thing we kncw,—he received for the stock in storage, a price almost equal to the price received for fresh stock shipped from the Province during the time he was there. Average Prices The average prices paid at that time, were from $2.00 to 62.15 per sack. Fixed charges on potatoes, amount to upwards of $2.00, made up as follcws:-(.‘.ost of bag, load- ing charges, freight charges at port, 30c; ocean freight, 25c; average storage, 27c; duty and insurance, $1.13; total, $1.95, to which must be added other inoldentals and sell. lng charges. This explains why we could pay only 6c a bushel for the seedw-a ridiculous price, we are all willing to admit; but on whom can you justly lay the blame? "No money was squandered or wasted. The strictest economy was exercised in every transaction. The economic conditions were such, that potatoes were not going into con- sumption: and the prices, instead of strengthening, became weaker. While it is one thing to develop s. market, it is impossible to overcome such an economic depression, as we are now experiencing in, all pro- ducts. . a Value Of Co-qperaticn _ "One can easllyfseefihowxiisap- Pointed a, farmer would befnt re- ceivlng such a. price, and naturally looks for someone on whom he may lay the blame. The unfortunate part oi this is, that past experiences are riot’ taken into consideration. If the farmer _who sold his seed in the fall of 1930, would recall the‘ circum- this: If the Potato Growergf. Aa- sociation had notpiaced theDseed. in storage in loamltlloiin wouldhayc been no market iorithin tlieiolltlns of 1931. Transportation ‘w tied up, and seed could not be mo ed from the Province. When transportation opened up, the potato market went to pieces, with such disastrous re- sults, that many and many a ship- per received a bill for expenses on potatoes shipped, rather; than a cheque in payment. But for the pct- atoes which were in storage, the farmers were paid 40c a. bushel. “Now; if we had not placed so many potatoes in storage in 1931, we could have paid more money; but apart from that, if the policy of storing was right for one year, who is to know which year or what year this policy should be changed? And, providing we ha/d riot stored these potatoes, what would you have received for them? Let us say we could have moved all these pot- atoes, which is doubtful, you would have received 0c or 8c s. bushel more. Contrast this with the 48c you would have lost the year before, and see ‘for yourself which policy would have been the more profit- able. "Now, I think we have made a clear explanation on this, and Just while we were talking about potat- oes, let me clear your mind regard- ing stories circulated, about the Dyal Produce Corporation, of New York City. This Dyal Produce Cor- poration annually handles, more Island potatoes than any other Am- erican dealer. They have provided an outlet for potatoes, shipped not only by this Association, but by many independent dealers. They, naturally, will buy as close as they campand as regards the charges of price cutting in Cuba that does not affect the farmers of Prince Edward Island. "All potatoes shipped by the As- sociation to Cuba, are sold at a price uhip-side Island 9011!. We do not send our potatoes there cn con- signment, as‘ others do. was.» these unfair criticism are made’ aga‘nat Mr. Dyal, no mention is made of the fltt that in i929, his coming to the would be done. It is true, when the | ‘ma! money was distributed Province in early October, and buy- petatces for Cuba. simply meant . to sell enough potatoes. that would g jump in price of ten cents a often happens that bags are tak- wrwt our mama a aeiilemeatliuiieu Ol‘ of the quantity mo enwhen aparty intends new... for on a pm rate ma in the fail. l um went ‘to Cuba.-—030.000 addit-lthe Association, and afterwards does amonginct. There is-ari exchange of bags ~ and iflcQI-Wlyflbyiaw No. idf-whlbbirfl; _ thsfarinembecauaecftbeboodr namely, 35c per sack. This cargo how this offset the benefits receiv- stances, he would tifuthfully “say, _‘_ i npmueumaaro . w-aaua ‘I find it makes a finer cigarette than anyrl \ laawetrladyeLBeinganari-lanisnaolrsnl ' know a good tobacco stance. Believe me.‘ L 6-. SI. John-Ill. ‘New crop" BUCKINGHAM ‘ FINE CUT racxacss ior-m-zce-auo s4‘ lb. Vltapaslr Tins IR price made by Mr. Dyal. Do you ever hear any mention made of this? “It, therefore, resolves itself to this: When Mr. Dyal pays these prices, and sells, as claimed, at a less price than others are asking in Cuba, he is taking that much less profit for himself. And that is u‘ businen entirely his own, and‘ about which we are not concerned, s0 long as we receive an equal or better price on the potatoes he handles, than is paid by others. "Let me tell you one thing more: Ocean freights and storage charg- es, on 10st fall's shipments, were paid in United States currency. The lDyal Produce Corporation financed the payment and storage charges on all the potatoes sent to Port Newark. We were, therefore, not obliged to borrow money from the bank for this purpose. This made it easier for us. as the banks were not anxious to advance too much money against potatoes placed in storage. While the Dyal Produce Corporation had advanced this money against the potatoes in stor- age they did not handle all of these potatoes when they were taken out of storage: but Mr. MucFai-larie sold to all dealers, and this Cor- poration was obliged to buy their requirements, in competition with other dealers. "I do not suppose I have heard half of the malicious stories circu- lated against the Potato Growers’ Association during the past year. The financial statement you have received, and the explanation I have given so far, explodes several of them. Amendment to Act. Fons story, which naturally play- ed cin the minds of the members. and another, the right information ls not conveyed to the office, and therefore, someone has not paid for the bags which he has used. while others have been charged for them. While this may be a source of un- pieasazitness to the party, it is not an indication of error on the part of the staff, and is corrected when- ever the information is forwarded to the office. The management was of the opinion, that by charging extra for these bags, it. would cor- rect the use of them for sale to outside dealers, but even this has not worked very satisfactorily. II understand that all dealers ex- perience practically the same trouble. -, Fertilizer Prices “The price-cutting story has also been disposed of. Then there is the story about the big profit per ton on fertilizing-that. mister so and so said the Association made s, pro- fit of four, five or six dollars s. ton. This is an example of ignorance on the part of ‘the man, who may in some way obtain s. price at which fertilizer may be bought, either f.o.b. shipping point, or c.i.f. ports. Let us take an example and say that Potash costs $40.00 a. ton on board ship Charlottetown. To this must be added, 15c American Ex- change; that makes $6.00. On this $46.00 which we now have, we must add 3 percent Excise Tax: this is $1.38. We are now $47.38. It costs you $1.00 a. ton to discharge into cars at this port. This is $48.38. Our average rail freight i; $1.50; we have now reached $49.88, and we must pay the man who distributes this fertilizer to you, a certain amount, which would bring this over $50.00 s. ton. In other words, there is a tremendous spread between a quotation price, and a delivered was regarding the amendment to the Act passed last year, involvingl the members for heavy liabilities of the Association. It is unfortun- ate "that some of our membe s pre- fer to believe these outside stories, rather than the statements from their Association. It was clearly in- dicated by circulars si that time. that the bank required this correct- ion to the Act, in order to advance the line of credit the Assmiation requires. There is possibly no one present who does not realize that the borrowing of money today, is quite s. different 111000819100 from what it was three years ago; and no matter who the party is, the sc- curity he gives, is examined much, more critically than it was in form- er years. The bank, in examining our Act, found there was a differ- once of opinion among legal men regarding its lntentio , and natur- ally they wished to be sure they were well protected. » 0n the other hand, the impossi- bility of s. liability falling on our members, was carefully examined. There was no time when our as- sets were not greater than our lie.- bilities. We were caught in the spring of 1031, when the slump in the market left us with heavy out- standing accounts on the part of our members; and had the price of potatoes this year been anything like normal, very little money would have been clue us, either by the dis- tributors or the members, Allow- ing for all doubtful accounts, we have a substantial balance. “The bluff statement circulated, that other dealers llbndled potatoes on the same basis as the Association and were able to pay more, is not correct. For the small quantity of potatoes handled by others, which were pooled, the conditions were entirely different. Handling of Sacks "The handling of sacks through the Association, ls the cause of a great deal of misunderstand‘ ll and ‘trouble, as wail as the cause of an ‘immense ‘amount of work for the bookkeelllrs. The Association does not want to aupplyaaokayfor pota- ‘ioss sold to other eeaisrb, but it pstatement, price. Therefore, we must have been able to buy Potash at less than the price quoted but not sufficiently be- low it to give us more than a mar- gin of profit, which warrants our handling it. The amount of profit made, is shown in your financial and from this you should take overhead or operating expenses. When you have done this, you can hardly charge undue pro- fits. The exchange made the price of fertilizer much higher this year. “One thing we are pleased to be able to say today, and that is, that you never received fertilizer in a better mechanical condition, nor 'did you aver receive fertilizer which carried such a. high analysis. There was not one sample taken in which theuanalyst did not find a higher percentage than was guaranteed. I have before me the official analyses which shows that the 18 per cent Phosphate, ran as high as l8 per cent, and never below 17 per cent. 'I'h.at the Potash, with. one excep- tion, was from 50 per cent to t2 per cent, while the guarantee was 4a per cent. The Nitrate of Soda, was above the guarantee; and the Sul- phate of Ammonia, averaged 1 per cent higher than the 20 per cent guaranteed. The bags were strong, and there was no breakage. ‘rho only fault was, that we were a. little late getting the steamers in, but this was due to uncertainty re- garding the amount we might re- quire, as our people did not. know what they should do about order- ing fertilizer, "Now, I wonder what other stor- ies there arc, that I have not dis- cussed with you? Yes, about the Association financing local growers. ‘this is another story in which there is no truth. Our growers ledger shows an amount of $6,500 out- standing, This, divided among a large number of accounts, copies of which are here, indicates amounts varying in very few cases over $50.00 And for every one of these accounts, an explanation could be given, as to how the particular member be- came indebted to the Association- Had the price of potatoes been high- er, many of these would have been paid in full. Membership Ices lllfil URI!" There .. one item, regfi-ding the the membership fees shall be held’ by the Association as a working ital. Well, what happened tothst working capital? It was broughtdn- to use in the spring of 193i. Where ls the fee? n has simply been 118M in the interests of the Association. and this l5 a. principle demand.,.by members 1n similar organizations. It was always contended, by some of our Directors, that the Associ- ation could not enforce the by-law, -—that according to the cont-tiling“. we were not able to build lip"!!- serves, Apart from this, the mem- bers of the Association have bene- fited in ltsexpelldltuTe- "Another wny in which itfvias sought to make trouble, was arrest- tempt to discredit the auditorSQ-I gm not a. party t0 the hiring OI these men. They were recommend- ed to your President by business men of the toivn. They were em- ployed and given a. free hand. They have made c. contlnucim auditof the amounts. They are at the W°Yk every month. I am not an account- ant, no; do I pretend to be one. It is not my work and we have to de- pend upon these auditors to find any error which may occur. I can assure you, it means evefythifl! W the management, to have the 500K! properly kept. The accountant wa have, has been in 0m‘ 01111310! 95 accountant. for five years. We have every confidence in he!‘ Bblnty. This confidence is baled 011 01!!‘ personal experience Iegflfdlnk he!‘ work, as well as the opinion of the auditors and the bank manager. Title auditors annually prepare 8- statement whirh is Pfesmild m y0l1,"]'hL5 is not a state- ment prepared by your man- agement, but by the auditorsgand I am sure there is not a 111811“!!! Charlottetown, or anywhere thrdiini- out the Province, who knowshoune or both of them, who would fora minute question their integrity. "Have you ever seen a. financial statement of any oOmDB-Ily. Whit!!! reveals more the details‘ thsnmis shown in this statement? I cannot think of any way in which a state- ment could be prollflred more com- plete, than the one you have be- fore you. And it is doubtful if joint stock companies, would ~b willing to give as much information as you receive in your statemeniii and we discuss with you at a. meet- ing. , Need Of Organisation “And now gentlemen, if thora is anything that I have not dealt with. that, you have heard, and which you are inclined to believe. that costs any reflection on the work of the Association, please mention it, 11.1.; 15 s, period when farmhrs in particular, should organizow-ho protect themselves, and I knowthnt those or you who are prcsentpal well as many who could riot. at- tend, realize that if ever the P0- tato industry needed an organisa- ticri, it. is today. its thirteen 1'68" of operation, has been the means of opening a market of a. tremond- ous s’ze,—a market large enflliilll that other dealers, without any ex- pense to themselves, have been able to use to their benefit-d T1181‘- ket into which we have distributed great quantities of seed, and which will again, when the buyiilZ WWW returns to the farmers of Jdis South, who are our customers. "On whom can you place thl cause oi such depression? Has it inot affected all commodities the ifarmer produces? Is not everytfgng |you offer for sale, purchased at a ipi-icc below the cost of production? Has riot all birslness suffered, wheth- (Contiriued on Page 6) DA N C E ’ AT 1m; Ab egweit Hotel BURDEN WEDNESDAY JULY 20 i , ‘i COLLEGIANS "- L t