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PAGE HOUR ; big loan and has forgotten for the time be- The Oshawa Baily Times THE BSMAWA DAY AFORMER : Mundy, President; ers $ wu "ins 1s 0 moter SUBSCRIPTION RATES Tulivered by carcier: 08 aL. Byam 0 Counties 0, Durham ear; elsewhere in Canada, a yar; 80 h JURDNID GrFICL: 407 Bond Buflding, 66 Temperance treet, Telephone + Adelaide 0107. EH, D, Tresidder, representative, REPRESENTATIVES IN US, Powers and Stoge, Inc, New York and Chicago FRIDAY, MAY 11, 1928 BALDNESS AND BRAINS Scientific research has finally justified the - famous retort of Admiral Evans to the wit, * who commented on his baldness, that "God ' gave some men hair and other men brains," + for the British Association for the Advance- . ment of Science has heard from one of its . 8cientist speakers that primitive man began ~ to lose his shagginess when his brains be- gan to develop, This has long been suspected by men who + day by day find their hair receding toward - the napes of their necks. The word "high. brow" was 'suggested by the prevalency of baldness among educated men, Great comfort should be brought into the lives of those who have found tonics and sure-cures futile to stay the decimation of their crowning glory when they learn that the thyroid secretions which once nourished the hair are now engaged in building brain cells. However, scientists cannot expect their conclusion to be accepted by those who have . reason to be proud of both their hair and brains and who have acquaintances who are both bald and brainless, These skeptics will prefer to believe that baldness and brains grew up together and not that baldness is the parent of the human reason, STRAW HATS The straw-hat season will soon be here in il its glory of new styles--that is, the men's straw-hat season, for the women have been wearing their new straw hats since February, and it wilk, not be long now until they will have begun to wear their fall and winter hats, Straw hats were first made and worn by the Romans. However, history records that it was not until many centuries later that straw hats really became popular. It was in the sixteenth century that Mary, Queen of Scots, became interested in the wearing of straw hats, and it was this same Mary who popularized the straw hat, She em- ployed a number of straw-pliaters and re- turned with them to Scotland, where her ' people were trained in the art of straw-hat making, Tuscany furnishes the finest straws and plaids. In Tuscany, the delicate Leghorn is woven into its finest texture, It is in Tus. cany that some of the braids are so fine that the hat-makers find it impossible to work upon them more than two or three hours at a time on account of their eyes. From Cuba and Porto Rico we get most of our Panama hats, So much for the historical feature of the hat-making industry, Every year the styles are different. Yet the old-fashioned straw sailors of a bygone year are still popular, and, even if they are not so nobby, they are bound to be popular with the old-fashioned man who has not a » thousand lives to live and die. ko returning from Europe report finding Germany and some other countries "looking better on the surface than before ~ the war," They mean precisely what they ' say by "on the surface." For indications that the situation is different under the sur- face are unmistakable, : The impression of prosperity in Europe is . due largely to two things. One is that the visitor generally collects most of his impres- gions in a few large cities, and that these - cities are not cutting their coat according to _ their cloth. In various places are expensive stadiums, "recently constructed or under construction, . municipal baths, elaborate new public build- ings and other public improvements. These are all admirable and desirable things, but - they are not justified by the cities' financial ' situation. For another thing, their apparent « prosperity much resembles the prosperity of the man who has succeeded in securing a PAPER PROSPERITY ing that it must be repaid some day. 'Many Canadians and Americans living in [Tages hort in 4 ste of HY bewild- " erment by the readiness and even eagerness with. which European loans are subscribea and oversubscribed on this continent. They see interest charges on foreign loans fount- ing up into the hundreds of millions yearly _ and the surplus of imports over exports as- suming gigantic proportions. If it is true that European nations are "keeping their people employed with borrowea money, their prosperity is only on the sur- face and it cannot long continue there unless in the meantime their economic structure is stregthened at its foundations. THE QUEST FOR LIQUID GOLD In the years since 1859, when the petro- leum industry came into being on this con- tinent, huge sums of money have been wasted in sinking wells which have never produced. While a naturally increasing knowledge of oil geology and rock structures has enabled the industry gradually to reduce its failures, the cost entailed in boring dry wells has remained a most uneconomic fea- ture of the business, A late bulletin of the Smithsonian Instis. _ tution tells of the manner in which millions of dollars have been saved in the last few years through a study of foraminifera and ostracoda, tiny marine shelled animals, in- numerable specimens of which have accum. ulated in the institution's collection over a long period of years. These shells are about a twenty-fifth of an inch long, though many are smaller, Scientists examining them dis- covered not long ago that certain kinds are invariably present in surface formations over underlying oil, From their study and conclusions, it is said, the oil driller has greater assurance of success than he has ever enjoyed before, To a very definite degree the waste entailed in locating paying wells' has been cut down, thus relieving the industry of a burdensome expense and, by reflection, the buyer of oil and gas of a proportionate cost, As the world's oil supply dwindles and oil becomes more precious and hence more sought after, it is easy to see that untold thousands of fruitless wells would of necessity be drilled were it not for the man with the microscope and a scientist's curiosity. EDITORIAL NOTES ' Many pérsons jump at conclusions and call them convietions, The person. who pines over his hard luck needs to spruce up a bit, . -- The encyclopedias eniit so many of the in- teresting details, None. of them tells us what Mrs. Izaak Walton thought of all this fishing. Three-fourths of all motor vehicles are sold on credits, Riders pay as they go. A Bit of Verse IN MAY My books all lay Untouched today, No wise man's words I pondered, For just outside, ; In mellow tide, The sun his glory squandered Rare books which hold Deep thoughts and old That with great truths are reckoned Will long endure, But Spring's bright lure Is fleet; today she beckoned. In May I learn How life's fires burn From every bird that passes; In May I read The daisies's screed Scrawled gaily through the grasses. CONTENTMENT What little things give you delight, A cattage white, a path to weed, A tiny nest of fledgling wrens, And six browns hens to tend and feed; And new-born lambs on crooked legs, Blue thrushes' eggs, old water mills, And frothy milk in brimming cans, And caravans, and dimpled hills; And when the shadows gold grow long, The blackbird's song begins to tire, A corner in the ingle-nook ' A poetry book beside the fire. ~C. L. Lanyon, in The Observer (London). dha a TUT Da, rt Swi bldg MUAY, MA) Lay M74. At a Glance ' 'What's The Use He always boiled the water As the health department begs He pasteurized his coffee And his matutinal eggs, He filtered this and filtered that And sterilized the rest And everything the Board of Health Thinks in their wisdom best; But he couldn't boil the atmos-] phere Four-fifths of which are germs So death negotiated him Upon some easy terms. es Life is one thing after another, In the beginning woman was made with an extra rib which was sup+ posed to be taken from man, and he has been after that rib ever since. +. se The world will crumble away to dust in fifty years states Dr. Ggorge J. Smith, chairman of the Board of Examiners, New York, if left in the hands of women. Probably the Senate had some inside informa- tion about this question when they were refused admittance to that body of men. » «. ow What a crime it is that Shakes: peare or some other great play- wright isn't living so that he might write a drama on the recent flight of the Bremen across the Atlantic. But, perhaps Baron Von Huenefeld will do that little thing for us, LJ] Ll] LJ Here comes another person who believes that evolution from the tree-climbing species is all bunk. He says a man and an ape come from a common ancestor which is not like a man, or not like an ape. Perhaps it was a chicken, LJ LJ . . We haven't heard anything about the Bremen fliers now. for more than twenty-four hours. It is hop- ed that they are progressing in their tour. Such a lack of news is 'ndeed discouraging. . LJ » 4 Real estate seems to be a source of interest to newspapermen late. ly, What might soon be called a newspaperman's colony is practic- ally about to spring up in a eer- tain suburb of the city, . \d % A party of explorers went out on an expedition to find a lost colony of white Indians, All they found was one natural Indian and he was nearly dead with Malaria, What sad memories are brought up at the hearing of this tale, such us going out into the garden to get some green onions in the Spring and finding one green shoot in about six rows, Things happen ike that, LJ LJ] . Rain Rain is the pessimist's delight, It is an answer to the farmer's prayer, and is delivered in liquid form, Rain is colorless, and as a result may be seen through, 'It causes many changes in tempera- ture, atmosphere and temperament, If it freezes it is called hail, it uot, just rain, If fit weren't for rain, thé world would come to an end, and if we had too much the world would end anyway, so what's the use. Some crave for rain, others detest it but who doesn't like to Me asleep in their tent at the summer camp and listen to it pattering on the canvas? LJ LJ LJ Yours for more rain, . By Renrut, 'What Others Say CHORUS SOFTLY, PLEASE (U., of Washington Columns) And now we will listen to the sad story of the wife who put the wood in the custard ple and baked the kitchen stove, THE MODERN WAY (Everybody's Weekly) "When Jack broke off the en- gagement did you take it to heart?" "No, to court." WHAT A LIFE! (Los Angeles Examiner) Kissing is dangerouf and, sec cording to Dr. 8. R. McKelvey of the Colorado state board of health, the elimination of it will be a big factor in lengthening life. Without kisses people can live to be 100. But what a life! A WOMEN'S CHAMPION (Glasgow Herald) As was only to be expected in the case of so ardent a feminist as Lady Frances Balfour, this frail little old lady with an indomitable spirit has had some very caustic things to say on the subject of the ban- ning of the women medical stu- dents in some of the hospitals. I had tea with her last year in her tiny Kensington house (says a "Bullet- in" gossip), where she sat by ne fire, flanked by a huge ado dog, and talking of the wom question, she said: "It is just Flom ence Nightingale over again." She bad just been to a luncheon given by the National Council of Women to Dean Inge, and the "Gloomy" Dean" had been somewhat face- tious on. the subje¢t nearest his hostesses' hearts, EXODUS FROM CANADA EXCEEDS IMMIGRATION (From the Toronto Mail and Em- pire) There was no exese for the hos- tility shown by some of the mem- bers of the Immigration Commitee at Ottawa, where Canon Burd, rep- resentng Bshop Lloyd of ] wan, gave his views on this serious problem. Other witnesses had been -» treated courteously whem they ex- pressed certain opinions which were not wunan ly acceptable ana several of the Committee protested against the different treatment of Canon Burd. "It seems," said Dr, McGibbon, "as if he had been per- secuted all day." His chief offense seems to bave been to point to the decrease in the proportion of British In Saskatchewan and to the colonizing of foreigners who, he sald,, did not make good Canadi- an citizens. The percentage of Dri. ------ tish immigrants .into Saskatche- wan fell from 40 per cent in 1922 to 21 per cent in 1923 and 26 per cent in 1926. These statistics ae certainly worthy of consideration and instead of showing hostility to Canon Burd, all the members of the committee should join in seek- ing a remedy for the conditions which he exposed. Immigration is a bip enough problem to be discussed dispas- sionately and impartially from every point of view. Hon. Mr. Stewart, Minister of the Interior, has thrown cold water on the idea of bringing more people into this country, but we hdpe that attitude will not be adopted by the com- mittee which has been investigat- ing the subject. Canada does meed & much larger population, but the efforts of the past five years to secure it have been a dismal fall- ure. Our own Bureau of Statistics gives the number of immigrants into Canada during the years 1923 to 1927 inclusive at 573,864. The CE E---- ------ --_-- ---- I -- United States records show that $91,121 people entered that coud try from Canada and Newfound land during the same period. It is probable that those who left Can- ada for other countries would about equal those who went to the United States from Newfoundland. It is therefore evident that the exodus from Canada during those five years was equal to the total number of immigrants and the cost of bringing them to this-coun= try was $11,896,962. NEW ISSUE in the eventof class to elect one less t as acqui respect to plo transportation newsprint R. O. Sweezey, 8 year. Mr. substantial amounts The recen the first three months of Offered in Units represented by (par value $100), one-half hiv wih Li (1 warrant entitling the Alda, ait price, to subscribe, on or before April The Preferred Stock is to be preferred 'thirty days' notice at $105 g share and aaron diy dividinds. be in arrears, then until all such-arrears have been The certificates for the fully-paid Prefurved Stock and delivered to the respective holders of the Allotment Cartificates on price or in any event not later than December 31, 1929, Allotment Certificates and Stock transferable in New York City, Montreal and Toronto. Dividends on Allotment City or Boston payable in United States currency at par of exchange. company, will be president of the new company. together with the other executives who have best responsible for the success of the old company, will continue in the of the new. Mr, N. A. Timmins and Mr. of the Preferred and St. Lawrence Paper Mills Company a 6% Cumulative Preferred Stock 190,000 Shares of Common Stock Common Stock Subscription Warrants ry over the Shares as idationto the extent of §1 ahare aid f fiouror mor paid and ferred stock, when deli The Company hit PBL hg © Hb J fd id SAITTALIZATION=TH capitalization of St. Lawrence Paper Mills Company Limited upon completion of the present financing will be as {-) 6% Cumulative Preferred Stock ($100 par value)... Common Stock (ne par value) in 1929. In order tons a year. of Il two ty tons a year, RY MANAGEMENT=Mr. N., A. Timmins, . President of the prede- cessor company, will be chairman of the board Ernest Rossiter, vice-president Sf she bone of She new 5 igh gio These gentlemen, Ernest ju 6 agp en t Certificates. RT other subscription warrants identical A ora ina od HR bd Mit Gav Bae aver aan aa to cumulative cash dividends at the rate of 6 event of 82 4 whole or in ceesssessenansesanearsannensesess $19,000,000 $9,500,000 to be fully paid and outstanding immediately; after October 15, 1928, $14,250,000 will be fu the final call, if made, $19,000,000. 90f the 500,000 shares of Common Stock authorised | but it unisgusd, 95,000 shares are warrants and 105,000 shares are The following information has been summarized a --_-.'e idan, 3¢. Lavrance Paper Mills Company Limited from his letter {ollwing information has bam summarised by Mr. Erte Rei i therein: THE COMPANY--St. Lawrence Pager Mi Mil Company Limited has been organized under the laws of of Canada and ired the entire business and et andhassasimeduil the the liabilities, except funded debt which is being tviired. of of St. Lawren Paper Mills Limited; the latter company ceil engaged in the manufacture and sale of newsprint since June, 192 The plant, located at Three Rivers, Que., consists of a four-machine balanced newsprint paper mill of 300 tons daily rated wy (recently ineroated § from 1 150 tons), advantageously Hid water supply, labour wan 30d fusoy water et: ! The entire output of the mill for 1928 has been sold under contract to 41 publishers located throughout the United States and Canada, and a contract has recently been entered into for the sale of 45,000 tons of newsprint a year for ten years to handle this business the company proposes to install two additions! machines with a combined rated apcip 3 150 tons. rerueding Sa cipasiy 13150 tons a day, or about 135 ny believes that sales will justify a further Com fore 1930, and in hae event it proposes to insta! pe ional newsprint machines, thus further increasing the capaci to 600 tons a day or 180,000 The Company's present pulpwood eI a Sa Me orestry Engineer, total cords, which, with pulpwood contracted last for at least 40 years operating at the full capacity tion contained an amount in CALLS ON ALLOTMENT CERTIFICATES <The Al ill espect of payable in two installments, 157s: To, and $25, 3p scied dh. on Cartificates tice not earlier than A sixty oer 7 2 Jot ap pril 1, share per oon called). ofl er] ful Sk ! Trot the respecti of the Allotmen fo hermes ri. SER SI satiation of ment, of F435 por My; onal called ly In case, the $0 180,000 tons per year. 1928. Based on the sale of the Company's output at current prices consulting Estimated sales (tone? 135,000 i adhe machines). 180,000 N. A. Timmins, » Board of Di $78 Matthews & faxes, on the basis of the proposed capitalization 8 machines)..... Pres., Hollinger Consolidated Gold Mines Ltd. W. M. Chadbourne, Chairman, Directors of Abercrombie and Fitch Company 563,000 President, Bank of Director, Terms of Pa unit and accrued dividend on one-half share Preferred Stock on Certificates. $25 per unit on October 185, 1 $25 per uplt and accrued ys' notice not earlier Eh Yio, Company Hanson Bros. X Incorporated » Mills, Spence & Co. sessssne Le.Col. Herbert Molson, CM.G., M. F.E. Bank of £ 18 and win Total costs $128 and accrued professed dividend per uit when all tastalls ments are paid. Dominion Securities Corporation Flood, Barnes & Company R.A. Daly & Co. Limited ~~ MeLeod, Young, Weir & Co. Limited Bell, Gouinlock & Company Duncanson, White & Co. René T. Leclere Incorporated EARNINGS--Net earnings of St. Lawrence Paper Mills Limited (predecessor company) after provision for all taxes have been as followsr= Before Depreciation After For the year ended June 30, 1927 For the year ended June 30, 1928 (Nine months actusi and three months Annual dividend on $9,500,000 new preference shares to be immediately $576,006 A increase in the predecessor company's capacity from 150 sons per day to 300 tons was not fully reflected in the samings until for newsprint and on operating costs as estimated by Mr. Hardy S. Ferguson, $88 that tut profits after siLcherges icluding depreciation and depletion, snd iter deducting all of 8 Daw CompIY willbe as fot En cesssennesessssnss nox DIRECTORS The following grvtlemar atone oti have commie 10 det a0 Divwotorsrer Sir Sir Chusies Gordon, O.D.8., 0.000 seers nrns Fm E. R. Weed, Vice-Pres., The Canadian Bank of Commerce' Be meal Ac, Ban Director, The Eastern Trust Co. We offer thess Allotment Certificates for delivery wm or about May 3, 1928, in the form of temporary Allotment Certificates. and not later than The statements hacsin have been accepted by un as sccurmte but are in ne event to be construed as representations by us. Each unit prises share Preferred of Comion Stuck et ps Som Tull paidy sad » Catamon i Jt 33, or ce wai of th lance hiss eo She bal tment Certificate of Common Stock at the rate of J Dar annum and o3 to aaiety dividends, and in involuntary liquidas il 15, July | 15, October a 15, Sumas fom 4 vd stock pi Ri the current quarterly dividend declared, the ve Sete) hol a majority of the directors, and to have ene vete for each fully paid share in Y'0 aruenned peel vert ave the warrants represented by the Allotment Certificates thereof, upon payment ing bir Sha Allotments Carifcates are to be On arable in New York Ci. Bostan. Montreal and Toronta Common Certificates and Preferred Stock registered in New York to make application In dus course to lst the Allotment Certificates, the Preferred Stock when delivered and the ,000 shares paid and outstanding; and after agin the Allotment Certificate subscription predecessor company, havg invested in the Commen Steck of the cats of the CAA" Oteiwiable upon thew tary thereof, Fo gm op Bd Arangsments wil be md for the sdjusmant of fracina shar HER Rn Dividends an shal had oa t tallment of Lip J Hibaii has pred -- 0 newsprint machines, to increase the capacity Times wlient 217 25 called by directors on sixty te on pri 15, rd sag a [1 1 are to be at ay ti Outstanding $9,500,000 upon October on call by the directors on 1929, and not later than ithe y, sath unit will be dis- $610,425 750,000