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THURSDAY, DEC. 15th, 1940 ___________ Sweet Chiniing Christmas Bells Bells! Christmas Beils! Symbol- Ic of ail the joy and gladness of the Christmas season, the beils of every land will once again chime out the glad news of the advent of the Christ Child as once again we celebrate the anniver- sary of His natal day. Let the beils ring out! Belîs have ever held an impor- tant place in legerd and history, and so wýe pass on to our readers some of the lovely old legends and stories that surround them. There is the story that on Christmas Eve ail the lost beils of land and sea ring out fromn their hidden places, and angels swing the belis in their belfries at mid- night as they sing praises to the Christ Child. Have you heard the aId Welsh legend that bell music is one of thr mysteries of Heaven, where iells are the souls'of sound. But because men could not hear them there. they were reborn on earth in bronze. Another tale says that only sacrifice will make a gaod bell. sKNN BLEMISHES Help cicar your skin this easy way, and see wbat a big improvement It cail make in your appearance. "Doff for the Skin" is a greaseless, Invisible pre- raration that may be used any time convenient as an effective relief for skin af- fections. Discreetly covers the blemiFh. *Splendid .for after shave rash. *Soothes, and stops the ltching in a few minutes, tben starts to work Im- niediately belping to clear and heai your skin, and make it softer, whiter and smoother. *An effective relief for impetigo, «Pimples.ecez- ema, psoriasis, and such distressful 5kin blemishes. *Leaves the skin with that healthy dlean appearance admired by al. Used successfully for over 15 years. Distributed by DO. SALES, (Reg.), Guelph, Ont. SoId By:- Jury &Lovel Pbione 778 Bowmanville The Super-Efficient OILO - MAGIC 011 Heating MAKES YOUR PRESENT HEATING EQUIPMENT TWICF AS GOOD Saves You Money on Your Fuel Costa Phone or Consuli JACK BROUGH PLUMBING HEATING Division St. S. Bowmanv.'It New Phone - Office 615 House Phone 2384 "'YOURS TO ENJOY The WHITE-BREASIEDNUT- MATCH is a tireless worker. Up and down the trees, sorne- timnes.-n seeniingly impossible positions, he seeks his food. Ail year he continues his pursuit of seeds, nuts and insect lorvae. Protect him at ail times. You'll flndi him in city and country. YOURS TO PROTECT CAm£"RLING'S TH4E CARUNG SREWERIES UMITUD WATERLOO, ONTARIO t 0 leu CARtLINGU 02RE Fromn the Great Bell of Peking which was cast in 1420 cornes one, of the many Iegends that surround the art of the bell-foundry. Bell- maker Kuan-yo bad failed re- peatedly in his attempt * to cast successfully the huge bell order- ed by his emperor. His beils lacked the beauty of tone that was demanded. and he was threat- Sened with death if one last at- tempt should fail. The secret of the bell with the human voice that resulted fromn his final casting is this: Kuan-yu's only child, know- ing that no bell could ring truc unless it embodied sacrifice, threw herself into the pit at the moment of the bell's pouring into the molten metal that was made into a bell that rang out forever afterward with ber selfless, loy- ing 'voice. Whenee corne the belîs? Fro,, far back in antiquity people have- loved musical sound. Aborigina] man bung hollow shelis fram a thorig, or .heard with delight the ringing tone of a dlay pot hung to dry in the sun. Primitive man still uses b.ells made of cday, or of wood, or of simple bits of metal strung on cord. The sound of' ani- mal belîs is preclous in man's bis- tory, for it spells the coming of salvation, trade, farmn life and homes. About the year 400, Paulinus of Italy placed in a belfry a copper pot on which to strike the hours of worship. Forty years later St. Patrick brought a bell with him to Ircland, where the Irish heard its ringing message with rever- ence. The saint had fifty more simple-hand belis made and soon they were calling the country folk to worship the Babe of Beth- lehem at crossroad shrines. The use of belîs in churches in- fluenced the architecture of Christian edifices. The Irish rais- cd round bell-towers; while al (,ver Europe artisans vied with each other to create belis of beauty andi belfries of .dignity to sustain their weight. The world's most famous towers were built for belîs-the leaning tower ot Pisa, the Campinale at Florence, the towers of the Kremlin, the towers of the lowland cathedrals, the towers of the bouses of Par- liament and the Bok Singing Tower in Florida-ail holding aloft the belîs, Heaven's music makers! At the conclusion of the war when Prime Minister Winston Ch'urchill was 'asked if cannon would be sounded to celebrate ai- lied victories. he said "Person- ally, I prefer belîs, we have heard quite cnough of guns'. When the Big Ben struck the hour of vic- tory in Europe, hearts araund the globe leaped in thankfulness. The sounds of joy on world-wide peace day echoed fromn the throats of a thousand1 belîs. Door-beils rang, as did telephones, train belîs and farmn dinner bells. From vil- lage spires, church belîs, fire belis and school belîs pealed. Any boy who could find a bell rope puiled it with ahl his might. 01<1 mission belîs rang, and the temple belîs of the East, when peace xnarched across the world again. The Bell of Kyoto boomed, and China's Bells of Justice, the prayer belîs of Burma, and Africa's gongs. Westminster's chimes pealed the good news, and the Liberty Bell too "proclaîmed . . . to ail the land." And oh, the beils of Christmasý! They are the ones we picture an our Christmas greetings and bang in aur windows, on our doors and on aur Christmas trees-the belîs that promise joy to the world! "Sweet Chiming Christmas Belus, They cheer us on our heavenly way, Sweet chiming belis'. Will License Tourist Homes in Ontario , All tourist bornes having five or more rooms for the exchusive use of transient guests will be subject ta inspection and licensing by the provincial government, Travel Minister Ceeule said Fni- day in announcing the new regu- lations under the Tourists Es- tablishments Act. The regulations wili also bring motor courts uncier the govern- inent's licensing system, as wehh as ail types of resort botels which are not under jurisdiction of the Liquor ticense Board of the De- partmcnt of Lands and Forests. Rooming bouses are exempt. Responsibiiity for issuing li- cences remains with the munici- I pahities or in unorganized areas 1with district inspectors of Pro- vincial Police. Municipalities may stilh regulate tourist accommoda- tion by by-law and appoint in- spectors. The Department of Travei and Publicity have 4 staff of inspect- ors frorn May to September. Four- teen were employed this year, ail graduates or undergraduates of the University of Toronto exten- sfon course in institutional man- agement. The regulations caver every detail of operation, right down ta the number of watcr close 'fs, toi- lets and wash basins that must be available and the state of repair in wbich tbey must be kept. Fire prevention, garbage col- lection, wvater supply, bcd linen drainage and construction are cavered in the reguiations. In addition a register giving the name and address of the persan i accommodated and bis car and traile r licence, if be bas one, must be kept. BROWN'S -Sarry to report that Mrs. W Farrow bas been on the sick ,ist -but is feeling better. IMrs. J. Hillier visited witb Mr. and Mrs. J. Brown in Toronto. rContratulations.-to Mr. and Mrs. t Elmer Rozniak (nec Helen Moore), Garden Hill. on the safe 'arrîvaI of their son Robert Lee. 1 Don't farget to send your lisI of Chri4tmas visitors to your re- porter..i Darlington Council Acknowledges $200 For Hunting Licenses Darlington Council met Déc. lst with me mbers all present and Reeve Milîson presiding. T. M. Chant and W. R.-Green- away visited the Council re flire protection by-law, which was given two readîngs. Road Supt. presented his report and vouchers for November which were ordercd paid. Treasurer acknowledged re- ceipt of $200.00 from sale of Hunting Licenses. Clerk was instructed ta prepare By-Law setting day of- first meet- ing of Council for January. Cauncil adjourned to meet Dec. 15, 1949. The foliowing bills were paid. City of Oshawa, Relief accaunt 8.73 Provincial Treas., Insulin ------ 9.71 G. 1'. Annis, Sheep Inspection . 2.40 Grant Bennett, Sheep damages . 8.00 Sidney Worden Sheep damages 14.00 Sheppard and Gui, Fuel for Twp. Hall --- 35.63 Lewis Truli, Tending Hampton street lights- 34.00 J. W. Balson, Truant Officer.------ 49.20 Bell Telephone Ca., Service charges ---- 4.20 F. F. Marris, Ambulance Service 10.0o W. J. Chapman, work at park entrance 16.50 J. D. Hogarth, November Salary --- 145.00 J. D. Hogarth Excise and Postage -----. 10.00. Art Milîson, Selecting Jurors ---- 3.00 J. R. Reynolds, Selecting Jurors----- 3.00 J. D. Hogarth, Se]ecting Jurors ----- 4.00 Roads and Bridges, Maint. and Repairs ----- 2360.93 Relief - - ' - 212.63 T OMORRO W Take no thought for tomarrow, The morNiw you may not sec. Its joys, its cares, its sorrows May neyer beiong ta thee. Take no thought for tomorrow, Today is at thy command. Do with a will, whatever The task, lying close at hand. Tomorrow lies in the future, The' now is only aur own. The past is past forever. Its failures and triumphs gonc. Take no thought for tomarrow. God will be with you always Ylo give -'ou strength and comfort, Sufficient for aIl thy days. At the Annuai Meeting of the Share- holders of The Canadian Bank of Commerce, held in the Head Office of the Bank, Toronto, December l3th, Mr. Stanley M. Wedd, President,-and Mr. James 4Stewart, General Manager, pre- sented*the Annual Statement of the Bank togethef with a review of business conditions. Mr. Wedd's address to the meet ing follows, in part: Canadas continucd efforts since the war ta dcvelop an orderly and prosperous economy have bren high. iighted each year by changes both in domestic and in foreign relatianships and the year now drawing toaa close will stand aut in this respect. 0 NEWFOUNDLAND I m-ould first note in the record of events that Newfoundland this year became the tenth Canadian Province, after a series of negotiations dating back many ),cars. Both countries stand ta gain much from the new partncrship and Newfoundland w-ill now take her place'as an active member of this Confederation. Tradc%%ise, Canada and Newfoundland always have been very close, with Canada first in importance as a source of Newfounidland imports and third in import- ance as the destination of Newfoundland exports. DE VALUATION 'l'ie nîost momentous of recent happenings is the devaluation whîch took place in mid-September last of the British pound, the Canadian dollar and the currency adjustmcnts of about twenty-flve other countries which are linked mare or less closely. with the Sterling Area. ho ail likelihood it will he weeks, or even months, before the full resuits of these variaus devaluation aperations can properly be appraised. The dollar issue today is probably iess a dollar pblem than a production and marketing problem. I)eva luat ion is, in effect, an attempt to rectify a dis- tnrted balance of paynîents position arising from un- favourable trade developments. For real advantages ta accrue fromn devaluation there must be cither a sf7able stockpile of goods availahle for export or a production potential suficient ta satisfy any increased demand for cxport goods. In such circunistances, thîe devaluating country can take a(lvantage of its mo<re favourable ctnpetiivc position cithler betore econoolic conditions change internally or before other countries readjust trade barriers or institute cornpetitive devaluation. In the light of the nany variable factors mwhich must be saiifiedl before exchange depreciation can effectively check or reverse a trend in a couintry's balance of pav- nients, it is perhaps more realistic ta regard <evaluatîi)n as a temporary expedient rather than a corrective. Should this recent step lcad eventually to frre conver- tibilitIr of currencies, an Objective much ta he desired will have be-en accamplished. If, on the other hand, <evaluation is nullified hy continuous prîce adjustments tlien, from an economic point af view, the step wîll prove ta be abortive. TRADE AND TARIFF CONFERENCE Trade and tarif! discussions initiated at Geneva in 1947 continue. Reports of the sessions during the past summer suggest that the principles of multilateral trade have became mare widely recognized and the leading nations in world trade, the United States, THE CANADIAN STATESMAN. IBOWMAIYVTLE. ONTARIO PINCH and PlNC ......... i 'by HAP 'T.achers' Federation NEWSITEM:United Off ors Annual Award -What do you think It'il get un? -..Well, at least weell know what we ought to get. iYarions ceLeurates tirsz 1 ./- - 1 1 _______________The first annp.al award will be Locil arm rs$525 for an eight-year-old cow announced during the Easter hall- Loccl Fa mersconsigned by Gordon Atkinson, days next year, in recognition of a Buv a d Sel atBarrie, Carias Tamnblyn. Orano, contribution made during 1949. bougbt a five-year-oid from Max. A panel of weli-known judges O akvlAe Sale Greenberg, Freeman, for $500. is ta be named later. Highest price for a bred heifer A total of $ 17,430 for an aver- was $475 received by Clark E. Kep o r Tree Saf e age of $378 was reaiized on the Brown, Woodstock, fromn Harry~~ sale of 46 head of purebred Hol- Hall & Son, Harriston. Highest For Merry Christmas steins at the Fifteenth Oakviile price for any one of the Flatt ____ Consignment Sale beld December cattle was $575 paid by Sheffield Did you know that it takes kan Ist at Oakviile. Combined with Farms, St. George, for a fine-avrgCritstreoytw the Consignment Sale was the year-old. An eieven-months-oid aminutesCitamoap sme oncew f compiete dispersai of the herd of heifer caîf brougbt $525 an the a fire catches hold af its, festive Dr. W. D. Flatt, Terra Cotta, 'bid of Earl H. Moore, Orton, On- trappings? That doesn't allow Ontario. The 19 head from the tario, and a thîrteen-months-old znuch time for rescue by the fire Dr. Flatt herd averaged $382. bull, $500, fromn G. Leslie Peer, department. Hîghest price of the day was Milton, Ontario. Keep your tree safe, your $700 paid by George Hart, Wood- Five bulîs average $430, 25 Christmas merry by observing the stock, Ont., for Bond Haven Rag rnilking females $410, three bred following rules laid down by el- Apple Pat, a fîve-year-old son of heifers $341; 7 open yearlings $310 prs the six times All-Canadian Monl- and 7 heifer caives $272. The sale pett fpsil frtesf tvic Rag Apple Marksman. This was beld at the Oakville Sales ire ieoewihpce ot bull was consigned by bis joint Arena.treed a livn a wikthofpact.ke rot owners F. W. Hamilton, H. A. Other high prices incîuded $465 dirt moistened. The tree that can-1 Smîllwood, Guelph, E. H. Moore, paid by D. U. Donaldson, Sinclair- not be "planted" in earth can be Orton, and F. W. Townsend, Bei-I ville, N.Y., ta W. H. and H. R. kept as safe tram upsets if it's se- wood. Top price for a female iBlansh*ard, Freeman, for an 18- \vas $650 received by A. F. Mahon months-old bull; $485 paid by curely anchored in a sturdy pail- &- Sn, ampehlih], frm Jnie Clber G. cDoeil Honby tafui of rocks. What the smail tree & So, Cmpbllvilefro Jams Cebet G.McDwel, Honby to(safer than a large one, experts Kiný, Harnden, Va. King was Dr. Fiatt for a six-year-old caw, sav) lacks in size, it cani make Up the big buyer of the diay. tpkin" 5ý.455 paid by Lloyd Turner, for in festive trimmings. ciýht head. for a total of $3,660.1 Stouffville, ta Dr. Flatt faor an1 Un tii yru're ready ta set up Thýcse inclucled. a four-year-old open yearling; $400 paid by John- jvotîr tree, keep it out of doors. from W. H. Biggar. Oakville, at son Bras., Hampton, ta Dr. Flatt i' *hen you bring It in, set it up ý500, a f!ve-yca"-aid from Gar- for a seven-year-old; $430 paid lin the ols ato h os don ltisn are, at $485, by Wmn. G. Mitchell, Oak Bridges, xith te rco olet ares totbune Max Grcenberg, Froomnan at $400, Ont., ta Dr. Fiatt for a three- off. James T. Brown, Newcastle, atlyear-old and $420 paid by Fred Use non-inflammable alumninum $410 and $425 and Fred Hamnil- S. Wilson, Erin, ta Dr. Flatt, for foil-not cotton or paper-to can- ton, Frecman, at $400, and a 'a two-year-old heifer. ceai container in which 'Iree is three-year.aid from O. E. Crox- 1 "planted". Use non-inflammable al, Port Perry, at $390. 1 A barn in New Jersey blows trimmings on the tree. R. Sehicissncr. Jerseyviile, paid 'hay into fceding racks. Don't use Iighted candles. (This Britain and Canada, are moving toward more liberal commercial policies, although these mnav not be fully impiemented for some time. The revised schedules of tarif! agreemients negotiated between the ten additional nations which have now joined the general agreement and the twenty-three original memibers achieved no spectacular rerluction in the tarif! walls, but they con- tinue the basic principles autlincd in the Geneva negotiations. Canada bas reduced tariffs an sixty-one items and bas, bound against increasing the tarif! rates on twenty- four additional items. 0f particular importance were the tarif! reductions obtained by Canada from the United States under the most favoured nations prin- ciple, centering for the nîost part on certain types of steel products, wood products and meat and dairy products. THE NATIONAL SCENE Looking at aur domnestic picture, it may be noted that the national econooîy as a %vhole lias continued at a high level. Conditions, however, have been more varied than was the case in 1948, although it is likely that there %vill bc an over-alI gain this year and it is nom, anticipated that the dollar volume of production %vill reach sixteen billion dollars as compared with fifteen and a haîf billion in 1948. During the year the îumber of people at work reached the higliest figure in the cmploymnent history of this country. Çanadian agriculture begins the 1949/1950 crop year in a strong financial position due in a large measure ta continued high returns from the sale of farmn products. There was, hoivever, earlier in the year, widespread drought and insect infestation andl consequently, many gr ain growers in western Saskatchewan and eastern Alberta, as well as in some localities in central Canada, suf!ered heayy crop damage, mwhich %vas not fully over- corne bythe more favourable weather laterin the season. a *b INDUSTRY. The great expansion of Canadian industr y in the last quarter century, and notably in the laçt decade, is a tribute ta the enterprise of Canadian citizens. It is estimated that in t h e last ten yecars manufacturing capacity in Canada bias increased by about sixty per cent, while the grass value of Canadian manufacturîng production per head of population has risen f rom about two hundred and flfty dollars per head in the 192-29 period ta the present value af aZout seven hundred and fifty dollars. In aIl, there now are approximately thirty-three thousand manufacturing estaùlishments aperating in Canada producing goods to a v'alue of river ten billion dollars yearlv. ln<Jusirial production has moved upmwards and reached a ncw peacetime high towards the latter part of this year. a MINING AND OIL à oday Canada is one of the lcading producers of mineraIs and current production is valued at weillriver eight hundred million dollars per annum derived from about sixty different substances. This represenîs a substantial iucrease in dollar value over any previaus record, with bigher values per unit produmced and in- creased volume of production bath comhining ta bring about a new peak. Plans are proceeding for the develap- ment o-f the. Quebec and Labrador iran are depasits estimated at over three hundred million tans. The initial operations are projected at a minimum of ten million tons per annum, but some ),cars must clapse before actual production msilI be under way. Alo, in the lower Qucbec region the production ofàiîaniurn is expected ta commence in 1950 with an objeNive, wh îch PAiEm VUNt, may sem a n unnecessar' Preau- home. From Urne to timze, checlj, tion in this day of electric lights, over the tree and tee if needies# but ligbted candles contribute ta near the lights are turning brow<IF,.' tragic firea every year.) If they bave, move, the lights. ', Check the wiring for the tree to Watch the calendar. New Ya' see that it's flot frayec. is in per- is* the day for the tree to go dojet9r-.» fect condition. The switcb for If you should extenfd 'he tm1 turning off and on electric ligbts don't leave the ligbts on the tree'l, should be at somne distance from for more than a baif hour ýat the tree. Don't plug or unplug timne. lights beneath the tree.__________ Don't leave tree lights on when it isn't necessary and especially Seven nations have becomne self when the famnily is ýaway from governing since the war. FOR FIGURE SKATING FANS UNION W MADIE it is planned ta reach in 1952, of 220,000 tans of titanium slag and 175,000 tons of pig io per anpum. The present petroleum dev'elopment 'programme. Iargely in Alberta, but extending also ino Saskatchewan and Manitoba, is the largest ever undertaken in Canada. Alberta now bas nearly ane thousand productiv'e ail wells, over twice as maîîy as a year ago, and Canadian ail production bas tripled as conîpared ta tmwo years ago. WVhat the new ail discoveries may miean ta the future of Canadian ecanamie life is as yet uncertain but if there are further discoveries and production continues ta increase at the present rate, ail production-may rival agriculture in importance ta the prairie econamy. Equally tapical is the possibility that, b-v becoming self-sufficient or nearly self-sufficient in ail, Canada rnay substantially retloce hUe trade deficit with the United States. In 1948 aggregate ail imparts from aIlources amounted ta about three hundred millions in United States dollars. The increase in the tempo of the development of the natural resaurces of the country, ta whiclîI1 have just referred, is undoubtedly of major importance ta aur econamy. One cao svell envisage that, %vith aur new ail potentials and the possibilities of substani ially iocreased shipment% of metals to the United States markets, the current deficit in our trade with that country should progressively decline and that, in due time, a shift in -ir pattern of trade may develop. 0 To-day 'se face many uncertainties. The attempts ta gain control of men's minds, which i. the goal of the totalitarian, throw diffiralties in the way of efforts ta establish an orderly tra ding worltl. Vet the advantages of peacefal and universal trade are %o obviaus that one rannot help buît be strongly hope-fuI that cammon se-ose will pre-vail. Ail in ail the year just closing bas been a good onc for Canada. Our trade generally bas reached top figures and em ployment bas be-en quite wellmaintaîned in most fieds ofend cavoar. In so far as the immediate future is cancerned 1 think il safe ta conjecture that the coming year will bring satisfactory resaîts in the aggregate. It is truc that competition is becoming incrr.asingly vigorous both at home and from oui side of aur borders, but there is great enterprise in the Canadian peoîple and gis-en a reasonably stable world there i% 0no basis for pessimism. GENERAL MANAGER'S ADDRESS Following an [rom the record activities of 1948 the, 'anadian econom), bas continued in a generally upivard direction and year-end a ggregate figures of national incrme and prodluctioîn si Il inducate further industrial pragress titis year. This sustained upwvard trend ir reflected in the present position nf the Bank. During the fiscal year, aqe(q increased by some 117 millions Jf lollars-a somnewshat greater climh than that of last year-and the figure is noss 1,646 millions. DEPOSITS .-in jiecrease of 122 millions is shown ;ni - r s <is h ear as crntrasted Nith 93- millons lasi ear. The Balance Sheet wshich is before you gives a hreakd's-n of this liability in various classifications, but probably the sot s n i fi cao t figure i% eontained under the heading "Depsut bythePublie bearing interest," etc. The Juk f t he de.-posits undo-r this heading is in persc;nal savin s and the increase nf 59 millions î,ver laqt year ar once enotes t he thrift and savingg habits of the people of this Dominion and also reflects the generally favour- able econamic conditions within the Dominion. -- - - -iNVESTMENTS inetetpf5rîfolia covering Dominion and4 Provincial Goveraments and Municipalities 'issue. shows a modest -increase over last year of $4 million. The returo from such securities axer the cast of money ta the Ban k is 10w-a very small fraction of 1 per cent. Howecr, these securities could readily be converted. ino cash, tbey are not subject ta wide marketfleU tions, and consequently represent a safcguar or oa.ur depositors' funds. %Vhile o the subject oif invcstrnent, it rmiht be nated that aver the past few years great strides have heen made in the expansioîn and impravement of industrial and commercial plant and equipoient which has involved heavy capital invesi nient and îlîîj has been a sustain- ing influence on thle higli level oif'business andI emplay- ment. flaviiîg regard for past experience, there must be an annîîal rate of capital investînent that fitsin 'ih the orderly growth of an cconomny such as ours, although s0 far it is difficult ta express in figures such aver-a invePstoîcot. It is important ta aur economy that priv capital investinîent be encourageil among ar o people, but also t he factors niust lie such thatiizn ather lands will s-iew aur invest 111<-t possiilites favour. It is seîaI therefore, that a cimate tinue t(i be lvlpt< andl sîstained 'sherrin risks returos corne ini linet and whlere individual and porate judgnients bc gis-en adequate scape. 0 LOANS Carrent boans this ye,îr have increased $59 mil This is alnîîîst double t he inrrea,-.of 19-18. Stead ward prier mos etnents (frîrtun.uîely on a sniall sr suîstained expanîsioîn in inîlustrial plant andi erui plus the conitinurd huoyancy of the ('anadian to which 1 have made previaus referenc&> hav tributed ta this position. VOLUME Sa far, 1 have dealt îînly in figures » hici have a dollar sigo in front, but I amn pleased to say that the prîîgress mnade ll.ie ha., been m;eched in th încreased nuinber of aur customers, depositors, bar- ra'sers and others who use the facilities of the Bank. The atumber of dlepasit accounts increascd by 38, and borrowers by 11,500. In add<ition, there bas been a further enlargement the number who have a proprietary intereçt in the B ps aur shareholders have increased by 450 and stand at 13,936. STAFF 'ie figures which vou have hefore you bçspeak ti calibre of the staff. Tht' aver-ail increae in the Balaut Sheet and the lesel tif aur earnings tell the story initiative, energy an<l good staf!-cuistomçr relationshi Vie have a largo- taiff -çoniîc l,5O-scattirerI oier. lengîli and 1r-ilb of ti ie 1, ....i.i.n.i.. Kingdîîuîu, the Unitedl State.iudtt Spread as thlîy are, aut hurmî y iis iy diffui cannot spe.uk t ooiiglily of the rîuminer in wli Managers antI Accuitauuts tlîrîuglîout the have accepted andl wisely used their delegateul aut h The men ani women in the cIericaI positions i hragches, have alsa contribulcd ta the gis'ing of c fui and efficient serv-ice ta the public. It is a pie for me ta express- appreciation ta the menîbers o s5taff for a gaoid job well donc, and I arn sure thi bc heartily endorsed by the shareholders here toda Great Industrial Expansion; Tribute to Canadilan Enterprisaç-', President of The Canadian Bank of Commerce, S. Mi, Wedd, States Manufacturlng Increased 60%y, n 10 years. Wldespread Development of 011, Ion and Tltanluma General Manager, James Stewart, Presents Bank's Statement, Showlng Record Assets and Deposits. Canadian Business Generally Upward. 4 ---é- -01 PAGE SZVIgrL»! The Ontario Secondary Scbool Teachers' Federation bas estab. lished an annual award, to be made for the first time in 1950, in recognition of the year's outstand- ing contribution ta secondary edu- cation in the province by a per- son outside the teaching profes- sion.' This announcement was Imade àt Toronto by S. G. B. Rob- inson, secretary of the O.S.S.T.F. Nominations for the award are being invited from local scbool boards, trustee organizations, home and scbool authorities, ser- vice clubs, municipal bodies, lead- irig educationists.- and local high school staffs througbout Ontario. The only restriction on nomina- tions is that nominees may not be' active members of the teaching profession. The award winning contribution to Ontario secondary education need not necessarily have been made by an Ontario resident, but must have bad an effect on education througbout this province. The original award symbol will be held at the central office of the Federation. Winners will receive