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¶'HURSDAY, NOV. 2~th, 1946 TEE CANADIAN STATESMAN. BOWMANVILLE, ONTAMO Record Puies Paid At Royal Winter Fair For Champion Steers It. was beef cattie day at the Royal Winter Fair, Toronto, on the elosing day when over 200 heati of fat market cattie came Sunder the hammer of the auction- eer in the main ring of the coli- seum. The average price over the whole lot was in excess of 30c per lb. live weight, but very fan- cy prices were paidi for champ- 4onship animals. The T. Eaton Co. set a record ity paying $13.00 per pound, live weight,' fôr the grandi champion steer which they donateti to Sun- nybrook Hospital. This butcher animal brought $ 12,000 on the hoof. Eatons also secured the junior champion in the Boys' Calf Club section, winner of the King's Guineas, at $5.50 per lb. It will be butched for Christie Street Hospital. The Reserve Grand Champion steer, a grade Shorthorn, exhib- iteti by a breeder from Brandon, Man., brought $3.00 per lb. live weight. It was one of two steers brought east by the same exhib- itôr, who secureti over $4,000.00 for tfte pair as live weight beef. According to Jack Baker, Hamp- I I-HEAT OIL DURNERS for Kitchen Stoves 2 G.inch Burners Guaranteed 5 Years $40365 Complete lnstatied 57 King St. W. - $47.651 Phone 8111 For Radio Enjoyment We are expert at pinning down causes of radio trou- bles. Our quality repair wiIl prove a profitable in- vestment . . . Phone us to- day to assure yourself of real radio enjoyment. Roy W. Neads CrosleyslRadios Records - Record Players Amateur Supplies 85 King St. E. Phone 580 ton, who was superintendent of the cattle section at the Royal, the above prices indicate the strqng position of beef cattle at this time and which will probably contin- ue for somfe years to come. Carv.th Filmis Enjoyed By Bicycle Safety Club Members of Bowmanville Bi- cycle Safety Club who came to the meeting ini the Town Hall, Saturtiay morning, enjoyeti a fea- ture program of motion pictures screened with color and sound effects. It was a free showing by the guest of the day, Ex-Wartien C. R. Carveth, Newcastle, one of the foremost pioneers in visual education in this. district. Mr. Carveth readily consenteti to come when approacheti by Con- stable J. R. Pollard, Chairman, Lions Bicycle Club Committee. The meeting was in charge of Presîient John Cattran, who with Secretary Peggy Dippeli contiuc- ted business of the club prior to showing the filrns. Mr. Carveth was introduceti by Mr. Pollarti who told that. for several years past, Mr. Carveth hati been on the go almost every night, giving his time freely in showing edu- cational pictures, many reels of which he had filmed personally. Four separate films were shown. The first was a color pan- orama of Montreal showing peo- pie, places and pageants which portrayed the growth of this se- cond largest French-speaking ci- ty of the world. Dating from 1642, the pageants developeti the view from blockhouse to sky- scraper, from ox-carts to ah'- planes and the vast shipping as- sembleti along the waterfront. It was a great lesson in history. The second film was in color taken by Mr. Carveth showing the fiower garden of Dr. E. W. Sisson, Bowmanville, and his prize winning gladioli. Many fa- miliar faces were includeti in the picture. Other views con- tinued with scenes from Mr. Car- veth's garden in Newcastle, and finally some interesting action shots on the ski run at Cobourg. Mr. Carveth offereti to arrange visits of club members' and schools to the ski run any time during the season. Wilti West pictures came next, showing scenes in the Peace Riv- er country taken by Mr. Carveth on a recent visit. Action incluti- eti wilti horse races, automobile races, Indian natives and so forth. It was still another view of Canada in the making. The final film, secureti by Mr. Pollard from the National Film Boardi was a forest scene featur- ing the'antics of three little bears anti the spats among forest cleni- zens, încluding owls, otter, musk- rats, foxes, coons, skunks, deer, all cngageti in seeking a livelihood in nature's great scheme of things. Mr. Carveth receîved a round of applause when thanked by Keith Shackleton. - Business in- cludeti a quiz on Safety Rules. Mr. Pollard complimented the school patrol for having directed traffic on the Church St. detour without a single accident among school chilciren. Continuing on patrol duty are Patsy Smith, Don Masters anti Keith Shackleton. Entertainment is being planneti for future meet-' ings. They will continue each Saturday morning at the Town Hall, at 10 a.m. sharp. PROMOTING WORLD FRIENDSHIP More Canadian Scouts will be encouragedt t work for the Worid Friendship Badge in an effort te increase Canada's contribution to .worid peace, it was tiecitiet at the Association's semi-annual Dominion Executive Board meet- ing in Montreal. The World Friend'ship proficiency badge re- quires Scouts to correspond with brother Scouts in distant coun- tries for a certain perioti of time. Where possible, the Scouts are aise encourageti to exchange vis- its. There's no use talking a lot about people unless you think a lot of theni anti for them. Our thinking is wrong if our living is. Dangerously Smooth Smooth tires don 't mean smooth riding!* You can 't 'cou.nt on them for another extra mile . .. 0 have them recapped now before they check your next trip in the middle of nowhere. Corne here today for dependable tire service and expert workmnanship. GF. Jami-eson Tire Shop Phone 467 46 King st. W. Botnanvle Courtice Mrs. Wooten anti daughter, Mrs. Pierson, have returneti fromn Van- couver where they visiteti the former's daughter. Miss Stella Penfounti, Orono, is visiting at the Penfounti home. Mr. anti Mrs. Eddie Warburton visiteti friends in Pennsylvania. Maurice Bickle is spending some time in Enfielti, Nova Sco- tia, having taken a position with a purebreti cattle stock farm. A goodly number were at the home of Joe anti Mrs. MeKenzie when a presentation of a coffee percolator, creamand sugar set, anti two pounds of coffee, ar- rangeti on a tray mirror, were given 'by Miss Kathleen Pitiduck, to the bride-eleet, Mrs. Frances Barrabal, who expresseti her thanks in à genial manner for thc lovely gifts. Refreshments were serveti. The Woman's Association helti a two-day quilting bee at Nora McKcnzie's when two quilts were matie for the bazaar, Dec. 1h in the Salvation Army Hall, Osh- awa. Among those attending the din- ner meeting in Oshawa of the 25 Year Club of General Motors from here, anti who receiveti rings, with the ladies receiving compacts, were: Mr. anti Mrs. Joe Gearing, Mr. anti Mrs. Tom Kins- man, Mr. anti Mrs. Geo. Etigar, Mr. anti' Mrs. Earl Shipman anti Mr. anti Mrs. Earl McLean. The evening Auxiliary met at the home of Mrs. Archie Muir, Jr. Devotional was in charge of Mrs. Eric Courtice. Readýings were given by Mrs. Herb Nich- ols anti Mrs. Wilfred Brown. Ac- cordion selections were given by Mrs. Eric Courtice anti' a reading by Mrs. Sweetman. The Study Book was taken by Mrs. Archie Muir, Jr. There were 22 present. A community shower was given the bride-elect, Miss Ruth Pen- founti, R.N., at the home of her parents, Clarence anti Mrs. Pen- founti with an attendance arounti one hundreti. L. J. Courtice caîl- eti the company to ortier after which Ruth anti, Bob were asketi to open their many lovely anti useful gifts, assisteti by Miss Kathleen Pitduck. Thanks were extentieti by the young couple. Refreshments were serveti. The No. 4 Mission Bandi helti its November meeting, Tuesday. Business inclutiet planning for their Christmas concert, on Dec. 13. The worship perioti openeti with the theme "Thanks For Our Home" with quiet music playeti ýby Gwen Osborne anti the "Caîl to Worship" repeateti by banti. Lily Senko gave the scripture reatiing anti story was tolti by Mrs. Stan Coverley. The program incluieti po.em, Elaine Senko; story, John Veenoif; chorus by the Bandi; story by Miss Gwen Osborne. Dr. J. C. Devitt Shows Moving Pictures at Masonic "At Home"y (Port Ferry Star) An event in the, social life of Port Ferry which is anticipateti eaéh season with interest anti pleasure is "Ladies' Night," when the members of Fidelity Lotige, A.F. & A.M. are "At Home" to their wives anti fam- ilies anti which took place, Nov. 15. The program took Che form of moving ffictures taken by Dr. J. C. Devitt, Bowmanvilie, who also gave, with the showing, a delight- fui anti humorous running des- cription, with frequent remarks on the side by his able assistant, Mr. C. R. Carveth, Newcastle. During the war Dr. Devitt saiti he and Mr. Carveth hati matie $2,- 500 or more for the Red Cross, by the showing of these films which were in technicoior, of splendid workmiânship, wonder- fui in beauty anti coloring. The first set of pictures shown were of a fishing anti canoe trip in Algonquin Park. Here the col- ville, with the tioctor anti other members of his family strolling among the gorgeous fiowers anti shrubbery. Here "Skippy" the blonde cocker spaniel hati a pro- minent part. Both summer anti winter scenes of the gartien were shown. It was a most delightfuh enter- tainment, greatly enjoyeti by ev- eryone, anti well deserveti the speech of thanks given to Dr. Devitt anti Mr. Carveth by Wor. Bro. Lundy. Dr. Devitt, by the way, saiti in his opening remarks, that he, coulti lay claini to being more or less a Port Perry "Olti Boy" hini- self having been born anti raised in Cartwright anti attentiet the High School here when Mr. Mc- Bride anti Mr. Stone were on the staff . Canada Savings Bonds Stili Available States Minister of Finance The Minister of Finance has decideti that Canada Savings shall not be withdfawn immed- iately, but shall remain available to purchasers until further not- ice. The decision will be of par- ticular interest 'in agricultural areas of Canada, where income is seasonal and where many farm- ers will want to make their in- vestment later in the year. Work- ers in other fieltis whose income varies periodically will also finti benefit in the new plan. As Finance Minister, J. L. Il- sley, made public his decision, the cumulative total iiad reacheti $257,947,600 from 670,691 applic- acitions. Since then this total has increaseti to a point well be- Merchants, busInessmen anti people in every sort of enter- prise borrOv,'a lot of money fromn the B Of M. one of these pa M . p. R.., an expert baker, who, after service wt the orcS, anted teo 'vr'a staeIFoesaWîe bakery agaîn,. 'tackifIg the ready cash, he carne te the B cf M, obtaifled a $500 îoan,and lanov,1 unn ng a profitable littie business. Theusands of business men _with big enterPrîses and littie ones-use B of M 10.ans The dollasthy orowoi the .wbeels of commerce andi industrY, facilitate produc- tion and create ernPbOYment. yond the expectations at national heatiquarters when the bonds first went on sale. The bonds wihh continue to be available through authorizeti deal- ers, stock brokers anti trust or boan companies, anti through banks. "Although it was known that a widespreati demanti existeti when the decision was taken to offer the Canada Savings Bond," Mr. Ilsley saiti, "In the new cir- cumstances of peacetime no one coulti be absohutely certain of the extent to which this demanti would be trenshateti into action. No national objective was estab- lisheti, but Ilans were laid, on a scale which would finti reason- able justification in a scale of two huntireti millions or better. Tak- ing into account returns yet to be officiahly recordeti, it is clear that performance will outrun this reasonable expectation by a con- B of M Personal Loans belped no less than 157,020 people during the past year-people like Mr. A. L. T., who needed money tobhelp him finish con- structing his own borne. He got three B of M Personal Loans, totalling more than $600, over a perioti of 18 months, anti be bas paid them off regularly in montbly instalments. Now bis borne is in fine shape and the loans are repaid. Interest cost cf loans: $32.53. O.ver 500 people from every walk of life corne to the B of M every business day ta, borrow for personal needs. WHAT THE B of M MAS IN RESOURCES TO MEET ITS OBLIGATIONS: CASH ... The B cf M has cash in its vaults and money on deposit with the Bank cf Canada amounting te.. . .... .....$ 192,687,153.28 MOHEY in the form cf notes cf, cheques on, and deposits with other banks................. . . . .. ... INVESTMENTS: The B of M has well over one billion dollars in- vested in high-grade goverrqment bonds and other public securities, which have a ready market. Listed on the Bank's bocks at a figure flot greater than their market value, they amount te The B of M bas other bonds, debentures and stocks, representing te some extent the extension cf credit te industrial enterprises for reconversion frorm wartime te peacetime production, and for ex- pansion cf productive facilities in established ihelds. Valued at no more than the market price, they amount te CA LL LOANS: The B cf M bas caîl lcanswhich are fully protected by quickly saleable securities. These boans amount te . . QUICKLY AVAILAILE RESOURCES: The resources listed above, al cf which can quickly be turned into cash, cover 85.35% cf al that the Bank owes te the public. These "quick assets" amount te LOAHS: During the year, many millions of dollars bave been lent te business and industrial enterprises for production of every kind, including housing anti construction - te farmers, fisher- men, lumbermen and ranchers - te citizens in aIl walks of life, and te Provincial anti Municipal Governnients and School Districts. These boans now amount te............ .. .. . . RANK BUILDINGS: In hamiets, villages, towns and large cities fromn coast te coast the B of M serves its customers at 498 offices. The value of the buildings owned by the Bank, together with fur- niture and equipment, is sbown on its books at..... .. . . OTHEf( ASSETS: These chiefly represent liabilities of 'customers for commitments madie by the Bank on their bebaîf, covering foreign andi tomestic trade transactions, totalling $21,538,615.59. 98,358,231.24 1,099,728,432.17 56,022,926.42 59,391,558.13 $1,506,188,301.24 sid7erable margin." "It is obvious from this that the habit of thrift developed in past years has been well main- tained. In purchasing the Can- ada Savings Bond in volume without the, stimulus of the ur- gent presentations of previoud campaigns, the Canadian people give evidence of prudence anti gooti jutigment. The savings tliey have invested will bring many benefits to them and to the communities in which' they live." "I wish to congratulate employ- ers andi employees generally of their acceptance of the Payroll Savings Plan. The attitude of employers andi the initiative dis- playeti by employees anti employ- ce committees has been notewor- thy. It is particularly gratifying that this spirit arose despite the less urgent atmosphere of this campaign." "I am aware that the instal- lation of the Payroll Savings Plan is not yet complete in many est- ablishments. I expect that' the fine payroll response to date will encourage those who have not yet completeti coverage to, do so as soon as possible. I wish to reminti them- that after November l5th interest wilh be added to the price of Canada. Savings Bonds. I shoulti also point out that the great majority of ,Pay- roll Savings Plans are scheduled for a twehve month period of payment. It is desirable that fin- al payments shoulti be completeti in every case not hater than Nov'. ember 30th, 1947. 1 am also an- xious to release the small organ- ization which has been necessary to offer. these facilities to em- ployers I have taken steps ta do so as of Wednesday, November 6th, .except in those cases where *. . *................. * BANKING is not the mysterious business some people are inclined to think it. In its fundamentals, it is no more complex than any other type of business. The chief difference is that, instead of deahing in goods, your bank deals in money . . . money which belongs mainly to you and to the many other Canadians who deposit their funds with the bank. At the B of M, for instance, weil over a million people have placed on deposit close to one and three-quarter billion dollars. This money doesn't stand idle . . . i workste In rn ;ts L-pp,. *---- u nliib r Farmers ail across tbe Demi. nion use the B cf M te finance their needs in buYing seed, cattie and machinery..in marketing crops-and mn mm. Proving theirfarma generally. This means more prospereus farrning communities - and bigger agricultural Produc- tion te meet the urgent needs of a bungry world. Typical of these go.abead farmers is Mr. R. B. L., who wanted te clear and break 50 acres on bis farmn. The job would cest $325, but bis ready cash amcunted te only $125. With the aid cf a B of M farm, improvement Joan cf $200, lie ccmpleted the job anti bas considerably in- creased the Production and profits from bis farm. W 0RK 1N G WITH CANA"DI.AÇS IN EVEî.Y WALK 0 IESNE:8. tMJRSDAY, NOV. 2àth, 1946 This is why, as you will sec here, some of the dollars left at the B of M are lent to merchants, businessmen and manufac- turers to assist therm in their operations, whiie others are used, to finance the needs of governments. Some enable farmers to improve their farms, buy machinery and market crops. Many others go out to*help citizens in their day-to-day financing - in meeting emergencies and in taking advantage of opportunities. The sumn total of ail these transactions makes interesting reading, not so much on account of the figures themselves, but because of the human stories behind them. At the close of the B of M's business year, it seems a good thing for these dollars to show what they have g' een ding andi for thie Bank to report on thc trans- actions which it has undertaken for its customers f rom coast to coast.- - - - - - - - - - - Tc municipalities, scbool dis- triCts and governments, the B Of M is censtantly lending mnoney for undertakings that benefit the wbole commnuniry. Take the case of an Ontario tewn, which-to pay for a new sewage systern-was selling deb'entures aMounting to $305eOOO. The Banik cf Mentreal bought 44% of the issue, a total cf $134,ooo, which is now being used by the tewn te complete the' undertaking.e Many municipalities use the B cf M's facilities te finance communîty impr 1Ovements and to bandie their financial transactions generally. If you are a B of M depositor, then it may be your money which assisted Mr. P. R. B. to buy bis bakery-wbich helped Mr. A. L. T. finish constructing bis bomne- which enabled Farmer R. B. L. to make bis farm more pro. fitable-and which belped finance the new sewage sys- tem for the Ontario town. Tbatworking money of yours is part of $ 1,700,000,000 which well over a million Canadians have deposited at 498 B of M branches from coast to coast. Each one of the 1,531,658 B ofM deposit accounts is an expression of trust in Canada's first-estab- lished bank, whicb bas been working with Canadians in everv walk of life forI29 years. WHAT THE B of M OWES TO OTHERS: DEPOSITS: While many business flrms, manufacturers, merchants, farmers and people in every type cf business have large deposits with the B cf M, the bulk cf the money on deposit with the Bank is the savings cf more than a million private citizens. The total cf aIl deposits is................. BANK NOTES: B of M bills in circulation, which are payable on presentation, ameunt te OTHER LIA BILITIES: Miscellaneous items, representing mainly commitments undertaken by the Bank on behaîf of customers in their foreign and domestîc trade transactions totalling TOTAL 0F WHAT THE B of M OWES ITS DEPOSITORS AND OTHERS... .............. TO PAY ALL IT OWFS, THE B of M HAS TOTAL RE- SOURCES, AS SHOWN ON THE LEET SIDE 0F THIS STATEMENT, AMOUNTING TO........ . .. .. $ 1,736,212,708-35 5,512,707.50 23,003,&85.74 1,764,729,301.59 1 1,843,985,587.4o WHICH ME4NS THAT THE B cf M HAS RESOURCES, OVER AND ABOVE WHAT IT OWES, AMOUNTING TO $ 79,256,285.81 This figure cf $79,256,285.81 is made up of money subscribed by the shareholders who cwn the Bank and, te some extent, of profits which have from time te time been pleughed back into the business te broaden the B4nk's services. PROFITS: After making provision for centingencies, for de*precia- tien cf Bank premises, furniture, and equipment, the B cf M reports a profit (including an adjustment in United Kingdem Taxes 1938-46) for the twelve months ended October 31st, 1946 Provision for Income anti Excess Profits Taxes.... .. .. 301,659,974.44 10,575,688.13 25,561,623.59 Leaving a net profit of . e............ .. .. .. 0f this amount, shareholtiers (paid dividentis at the rate of 80 cents a year, plus an extra distribution of 15 cents, for each $10-share of the Bank) received or will receive : . . . $10,263,782.91 5,776,000.00 4,487,782.91 3,420,000.00 Thus, the net amount to be atideti to thse balance cf profits from previous years' operatiens is.............. . .. ..... 1,067,782.91 Balance in the-Profit and Loss Account at October 31st, 1945, amountetit... . . . .. .. . . . ....3,188,502.90 Transferreti to Reserve Funti, which now amounts te $42,000,000 anti is inc lutieti in the shareholders' funtis of $79,256,285.81 mqptioned above.............. . . .. .. $ 4,256,285.81 3,000,000.00 Leaving a balance in the Profit anti Loss Account at Octeber 31st 1946, at..................... . . .. ... 1,256,285.81 E E E E I a' E I E '-1 TOTAL RESOIJRCES WHICH THEF B of M HAS TO MEET0 ITS OBLIGATIONS...........$1,843,985,587.40 CH IROPRACTIC STECKLEY HEALTH CLINIC 146 SImcoe St. M. - Oshawa Drugless Treatment lncludlng chfropractlc Eletro- therapy, mierai vapor baths. PracUSie n 24 Years. PHONE 226 ~ .w* 'i Ba . NK OF MONTORIEAL . THE CANADIAN STATESMAN, BOVMANVn.LE, ONTAFKO PAGÉ FIFrEUN - incomplete coverage requires fur- ther attention." "dEmployers will agree that these reasols, coupled with the general benefit to ef.ficiency lni their own establishments, com- bine to urge early completion of employee coverage under the Payroll Savings Plan." SCOUTS AGAIN REPAIING TOYS Across- Canada Boy Scout Troops are busy in the annual Good Turn effort of the Associa- tion-The Scout Christmas Toy Repair Shops. In these shops the Scouts recondiltion used toys they have collected andi distribute them to needy childi-en in private homes and, in many instances, i children's institutions. Started in 1923 and carried on ever since, the Scout Toy Repair shops brlng joy to thousands of children ev- ery year. 1 muwmwNý O F L 1 F- E S 1 N C E' l 8 .1. ý'7