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tbe georgetown herald wednesday evening november30th 1938 page7 bank of montreal established 1817 a presentation in easily understandable form of tbe banks annual statement 31st october 1938 liabilities liabilities to the public deposits payable on demand and after notice notes of the bank in circulation payable on demand bills payable time drafts tuned and outstanding acceptances and letters of credit outstanding financial responsibilities undertaken on behalf of customers see off setting amount tn re ources other liabilities to the public items which do not come nnder the foregoing headings total liabilities to the public liabilities to the shareholders capital surplus and undivided profits and reserves for dividends this amount represents the shareholders interest tn tbe bank over which liabilities to the public take precedence total liabilities resources to meet tbe foregoing ltabtltttes the bank has cash in its vaults and money on deposit with bank of canada notes of and cheques on other banks payable in cash on presentation money on deposit with other banks available on demand or at short notice government and other bonds and debentures not exceeding market value the greater portion consists of gilt edge securities which mature at early dates stocks industrial and other slocks not exceeding market value call loans outside of canada secured by bonds hocks and other negotiable securities of greater value than the loans and representing moneys quickly available with no disturbing effect on conditions in canada call loans in canada payable on demand and secured by bonds and stocks of greater value than the loans bankers acceptances prime drafts accepted by other banks total of quickly available resources equal to 77ao of ail liabilities to tbe public loans to provincial and municipal governments including school districts other loans to manufacturers farmers merchants and others on conditions consistent with sound hanking two properties only are carried tn tbe names of holding companies the stock and bonds of these companies are en ttrely owned by the bank and appear on the hooks at 1 00 m each case all other of the bank s premises the value of which largely exceeds 13900 000 appear under this heading real estate and mortgages on real estate sold by the bank acquired the course of the bankt business and tn process of being realised upon customers liability under acceptances and letters of credit represents liabilities of customer s on account of letter t of credit issued and drafts accepted by the bank for their account other assets not included in the foregoing making total assets of to meet payment of liabilities to the public of leaving an excess of assets over liabilities to tbe public of profit 1 loss account 763156 945 74 149 848 31 3 112 201 10 797 339 49149 874 255 828 88 88 225 623 35 30 371395 13 33 943 063 62 440736820 55 21493 005 38 620 335 119 92 37 015 594 19 190 687 855 52 13900000 m 1096707 73 8377574 84 874255 828 88 797339 491 49 76916337 39 profits for the year coded 31st c to contingent reserve fund and doubtful debts has bee provincial government tax dividends paid or payable to appropriation for bank prcm- er 1938 after making appropriations of which fund full provision for bad ide and after deducting dominion and mounting toll 152 618 49 reholdcrs 2 8s0 000 00 s 500 oo0 00 balance of profit and loss account 30th october 1937 balance of profit and loss earned forward jackson dodds g w spinney joint general managers i the strength of a bank ts determined by its history its policy its management and tbe extent of tts resources for 121 years the bank df montreal has been tn the forefront of canadian finance radio repairing is tears experience we specialize on this- work j sanford son oadbcmevown star residents opposf move i to close cataract po residents of the village of catarac arc up in arms against a proposal to close the cataract post office at a meeting last week they ased a reeo j lution opposing the change and ordr i ed it despatched to the postmaster general at ottawa this action followed a petition clr culated amongst the fanners of the fourth and fifth lines west asking that a rural mall service be established in that locality half of those asking the service now obtain their mall from cataract the balance being iarv ed from belfountain at one time a thriving small town cataract boasted large stone quarries two hotels a hour mill a barrel fac tory and a ui it was a junc tion point on the ejora and toronto- teeawater branch of the cpa and i at one as many a three car loads of pure spring water were ahip- i ped to toronto daily for drinking parv tlme however has passed this pic tureaque village in its stride and to day there is but one store operated in conjunction with the postofnee and a hydro electric plant which serves alton erin hulsburg orton cale- odn inglewood and oaledon east only 15 families still obtain their mall from the village a fine act county council hatton county council met in ses sion at the court house milton on tuesday nov 22nd it was a some what hurried meeting as it had oeen arranged that members of the council should be present at the official open lng of the seventh line subway sche duled to take place at 4 pjn tuesday at the morning session all members were present and the warden in the chair when minutes of the last meet lng were passed communications read and reports submitted by the stand ing committees at the afternoon session council went into committee of the who e with reee mccutcheon of acton in the chair mr gordon reeve o nassagaweya hiked leave to introduce a gentleman a ratepayer from his township who had consented lo add ess the counil with rtferlncc to the inconvenience to which res denti o campbehvm are a injected by reason of the station at ca v no longer- serving the travelling public pusmingcrs by rain being comptllld under the prtacnt ayiltm tc use guelph junction ns their i tat ion will the exception of om train a d ij the speaker ho aked uiat his name be uithhud irom the jress drew the attention or the council to o i ml tnc nent drawn up be tween th r ii payers and the credit allej r llv aj in 1870 at that t me lit speaker i aud the railway as w luiif to make any concession in order lo get a railway built and ac iordin to a clause in the agreement tht railway company agreed to build and maintain a s atlon at the vdage of campoellvil e the speaker irew at ntion to the hardship and incon enien e suffered by high school stu dints residing in campbell ville who vere compelled to journey to guelph junction to get their train there were alo children who found it lm passible to attend high school through lack of transportation in the opinion of the speaker the railway company had defaulted tn its agreement and in hi opinion pres sure should be brought to bear to compel the railway company to e vert to the terms of the agreement and service to the ratepayers of campbell ville be resumed it was suggeed by mr robinson that a committee be appointed to investigate the mutter and report to lhe finally it was left to the committee on railways legislation and agncul ture to look into the matter the resolution as passed by nasa gawea council and brought before the council was worded as follows whereas the agreement given the county of halton by the credit valley railway company their successors and ignees is not maintained and 1 as been broken in the nonprovision of at campbellvllle station the members of the municipal council the township of nassagaweya hereby request that the county coi til take the necessary action for the recovery of the guarantee penaltj ol 150 000 iron the cpjt for the com pllance and fulfilment of their agree ment in effect action whatever ne cessary be instigated at once sign ed by all members of the nassagaweya council the following resolutions were pass ed in open council moved by mr irving seconded by mr byers that the following accounts be paid finance to5 72 hospital ac counts 1253 67 county buildings 1723 01 education 45 15 prin ing s32 15 a total of 2849 70 moved by mr cordon seconded by mr hall that leave be granted to in troduce a by law to close the old un used portion of county road no 19 between the west half of lot no 20 and 21 and between the west half of lot 20 and the east half of 21 in h first concession of nassagaweya moved by mr irving seconded by mr byers that leave be granted to authorize the borrowing of money to meet current expenses for the year and that the same be now read a first time moved by mr hall seconded by mr mcnhen that leave be granted to introduce a by law tor borranvlng 9 600 upon debentures to meet jfte expenditures for the county roads and that the same be now read a first time b laws nos 719 720 and 721 were jiven the required readings and pass ed by the council a very satisfactory report was re ceued from the peel and halton house ofirefuge also request for an additional grant of 300 to meet extra expenses as set forth in accompm j lng utter the president and secretary of lhe halton educational association quested assistance from the council n connection with their work grant of 45 was recommended by the standing committee on education and passed by the council a resolution was endorsed by h council which had been sent by h natural milk producers and consum ers association of ontario from kit chener the resolution was addrans ed to the hon h j klrby minister of public health and ran in part as follows whereas we believe th compul sory pasteurization law is an unwar ranted invasion of personal freedom and will seriously impair the in come of many farmers now se ing milk we therefore go on record as opposed to this act and request its early repeal moved by mr wilson seconded by mr robinson that this council do now adjoum to meet on friday dcx 16th at 130 aa or at the call of the warden carried r h thompson co hardware cocoa door mats 14 24 cocoa door mats 18 x 29 window glass 10x12 window glass 12 x 14 ah sizes in stock at lowest prices cotton work gloves galvanized wash bollersno 9 copper wash boilers no 9 enamel oval roast pans aluminum comb steamer and sauce pan enamel double boiler ivory and red 49c 85c 75c d 85c pr 15c 98c- 269 90c p 150 98c rent johnsons electric floor polisher pease furnaces connor electric washers moffat electric ranges r c a victor radios plumbing heating tinsmtthing and electric wiring r h thompson co phone 46 and 289 georgetown ht hon b b bennett who resign ed as leader of the opposition in tie canadian parliament has not accept ed his monthly cheque for that post since august and each month the cheque for s33 has been made pav able to dr manloq his successor in office though the latter was not en titled to draw the remuneration until elected to the house of common itus kindly act is just what might have been expected from a person of m bennetts fine character barrto bxaxniner gyprocwoolinsulation and storm sash anyone can instal gyproc wool between the attic floor joists without any muss in the house it will pay for itself many times over m fuel savings and greater comfort sufficient gyproc wool for a 2 thickness over the ceiling of an average house 24 ft x 30 ft would only cost 2200 our storm sash are made of genuine on tario white pine at no extra cost over hard pine sash despite the fact that they will last more than twice as long windows measured and quotations given with- gj out obligation j b mackenzie son acton georgetown phone 33 dominions are well informed since the beginning of this tear 398 circular telegrams on foreign affairs have been sent to the dominions 150 of them during september during imperial conferences the dominion governments are kept constantly in formed- by telegraph of the informa tion of the disposal of his majestys government as well as on his ma jesty governments policy reganlng foreign affairs gray coach lines watch the herald for xma special i