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=u 3RDAY, JUNR 22, 1050 TIM CAIiAD!AK STATESMAN, EOWMdANvILL, ONTAMlo Montreal, June 15-More Can- adians have more money in the chartered banks than ever before and the average accounit is higher, it was stated today by J. U. Bayer, Pregident of The Canadian Bank- ers' Association. .Speaking at the annual meeting of the Association, Mr. Bayer de- etailed the growth of banking in recent years, particularly the growth of deposits and boans, and coupied with it a suggestion to Canadians ta invest in the profit- able development of the abundant resources and rich opportunities of Canada, and thus contribute ta the national enrichment in the wvay of jobs and production. "By stimulating among Canad- lans generaliy a iiveiy conscious- ness of the opportunities for their own enrichment in which their own country abounds-and of the job-creating importance of yen- ture and investment - thinking men," said Mr. Bayer, "can make a realiy effective contribution ta- ward the permanency cf empioy- ment and prosperity so much ta be desired." In a revîew of banking high- ~ghts, Mr. Boyer said that at V>arch 31, 1950, the public had $6,971 million in nearly 8,000,000 deposit accounts. This was an increase of $426 million in a year or 61/2 per cent. Savings were up $308 million and curreilt accounts, $118 million. The number of ac- caunts increased 365,000 between September 30, 1948, and Septem- ber 30, 1949, and the average de- posît was $873 compared ta $8281 in 1945. In savings alone, the average account moved up trami $532 in 1945 ta $637 în 1949. Total depasits in the cbartered banks reached a record at March 31 - S8,307 million, a gain of 5%A, per cent in a year. Bank assets, the counterpart ta deposits, also set a record $8,838 million, an in- crease of $412 million or nearly five per cent over March 31, 1949. Current boans in Canada, an in- dex of business activity, stood at $2,218 million at March 31, up $192 million in the year and more than double the corresponding figure for 1940. Debits ta mndiv- idual accounts, an indication of the high level cf business, reached $ 28,460 million in the first four months cf the year, compared ta $2,704 million in the same period cf 1949. Chartered bank invest- ments in securities cf ail kinds were $4,453 million - up $168 million over the same date last year and representing 50 per cent cf total assets. The number cf bank share- holders is on the increase, M-r. Bayer noted, going up from 50,000 before the war ta 60,000 today. Dividends paid in 1949 averaged $252 per shareholder. For every dollar paid in dividends in 1949, the banks paid $6.30 in salaries and wages, 73 cents in contribu- tions to staff pension funds, $3.64 in interest ta depositers and $ 1.43 in taxes, inciuding municipal. t Referring ta job-creating in-i vestment opportunities in Canada. Costs so IittIe 0 0. always so welcome 6bottle caron2 $0 psd4poit 2d>Pu book eig w 5uiiolzod botier of Cou-ola iodai moaciwlthC008.0Cola L BAIqLY' CABONTEDBEVERAGESsi OSHAWA ] - PHONE 755 al hi 8,000,000 Canadian Depositors Have Interest in Optinusm 0f Chartered Bank President iC- Fourteen thousand track fans packed the Mebourne, Australia, stdlum. If was 1934 ... year of the cil y's centennial. To celebrote the Ovent, cmock collegiate ath- letes from Canada, Australie and New Zeuland were competing in a spocial sports festival. Caneidas 12-mon team- iargest of ifs kind ta rapr. sent the nation abroadi- took top honours. They won 8 of il events and sbat- tereol thre. Austrellan truck records. Lter, in New Z.aland, th.y repeeteol their fot ... faking 10 out of 12 top honours ta make a clean sweep of the Dominions clown under. Close teamwork and sportsmanship have earned many flrsts for Canada's track stars. Spartsmanship and teamwark help you, too-in work and play. Together they keep your scope for opportun- Ity in Canada * .unimit.d. 13 Mr. Boyer gave as an illustration the $150,000,000 ini venture capital being spent by 240 companies in oil deveiopment in western Can- ada, particularly Alberta, this year. Much of this risk money came fromn outside Canada and in its wake flowed jobs, people, new industries and the expansion of aid industries. There wiil be $ 125,000,000 in new buildings in Alberta this year, as a direct re- suit of the oul deveiopment - stores, bouses, churches, schoois, ail making jobs and production. "In the new discoveries of oil in western Canada," Mr. Boyer continued, "the minerai finds of Chibougamhau, the iron and titan- iumn of Quebec and Labrador, in the uranium of the great north- west, the goid and copper and other minerais of northern On- tario and Quebec, British Colum- bia and Newfoundiand and also in the farms of the prairies, the forests and fisheries elsewhere in Canada, are opportunities almost fabulous. "This is a country generously endowed by nature with most of the raw materiais which make possible a high standard of living. Canadians have a herîtage of re- sources in forest, mine, farm and ocean seco~nd ta none. Ours is the best country in the worid. Canadians have resources, plant and equipment to provide an ever-increasing flow of the things the rest of the worid needs. We have a banking system second ta none, and Canadians generally have the capital for ail sound requirements. The people are Canada's most valuable asset - possessed of intelligence, initia- tive, industry. skiil and courage. Ail of the ingredients are there. "Work and thrift, investment and enterprise - these have been the basis of ail prosperity through ail the ages. It holds, true for Canadians today." In surveying general economic trends, Mr. Bayer saîd 1949 show- ed strength in the Canadian economy and 1950 iooked like an- other good year. The one cloud on the horizon was averseas mar- kets, a product of war and post-I war economic dislocation and dis-r ruption of muitilaterai trading. c "Until the grave problem Ofe the United Kingdom's sterling S, balances is resolved," Mr. Bayer p continued, "the situation must ci continue a source of anxiety and p effort. The democratic warid a cannot forever funiction success-V fuliy in the water-tight compart- L rnents of two currency areas andb two separate and irreconcilable a: price plateaus." E Overhanging the world today is e the fear and menace of commun-e ism seeking world domination, rr Mr. Boyer said. Ail human ac-C tivity is conditioned by it. t "Whatever the defects of the n~ democratic system. by which Can- V' adians lîve," he continued, "theirs ei .s a freedomn and a standard of g- living unmatched in the world, e. save possibly in the United States P - a standard which communism TI has not succeeded in praducing !r, anywhere in the worid, notwith- 'r] standing communism's totalitar- 1< an enslaving power. Nor has ha ;ocialism, nar any other system. "We have aur problems here, g, and we solve themn in democratic g, freedom, by virtue of enterprise ci and opportunity. Recent months in roduced one problem, now being Fi illeviated - that of a labor force increasing and jobs increasing too,L but not as fast. Therefore, unem B poyment, which rose steadily for BA atime, despite the fact that moreA people had jobs and payrolis were igher than ever and stili rising. fa 1feel that at least substantially ni the solution ta this anomaly lies in the field of investment, and Cý in stimuiating more Canadians ta M ivest their own money in the j rofitable developîng of the re- 3urces and rich opportunities of M teir own country. It is not be- fa: ond the resourcefulness of a free Er nterprise economy. I have great mnfidence in the practical inteil- Cc gence of free Canadians when Cc xell informed." RE When the heart speaks, however M Imple the words, its language is iways acceptable ta those who ro: iave hearts.-Mary Baker Eddy. ar Avoid pinches ! IF YOU try to Jam your feet into toatgear that la too small you'II tind that your feet wIlI auffer. But If tire destroys your home and you are under-Inrnured - then the shoe really pluches. Ask this agency toecheck up on your insurance. Stuzart R. James INSURANCE - 1ËEAL ESTATE 'Phone: Office 681 Ras. 4931r King Street, Bowmanvllle Garry John, Oshawa, at Mr. M. Bertrim's. (Omitted from last week) Mr. and Mrs. Leslie Graham en- jayed a mater trip ta Orillia, Mid- land, and other northern points. over the weekend. Mr. and Mrs. Theron Mountjoy, Hampton, at Mr. Don Cameran's. Mr. and Mrs. A. B. Fergusan, Hampton, Mr. Orville Cox, Ciare- mont, at Mr. James Hanna's. HAMPTON Miss Velma Gay, Bowmanville Hospital, visited Mrs. Hariand Trull. Mr. and Mrs. W. E. Stevens visited friends in Taranto on Sun- day. Mr. and Mrs. Cecil Lockwood and family spent the weekend xvith relatives at Stayner. Mrs. Garnet Johnstane, Sandra and Carl, spent last week with her parents at Sunderland. Mrs. C. E. Jeffrey and sister, Mrs. Flynn, Montreai, attended tbe decoration service at Prince Ai- bert Cemetery on Sunday and were tea guests cf Mr. and Mrs. C: C. Jeffrey, Part Perry. Mr. and Mrs. Albert F. Mele- nius, Mr. and Mrs. Wiimer L. Schiffer, son John and daughter Mary, Guelph; Mr. and Mrs. Roy Hunter, Mr. Harvey Hunter, Mr. Gea. Ferguson, Mount Forest; Mr. Harry Ferguson, Oshawa, were visiters at the home cf Mr. and Mrs. Aif. Randie and Mrs. F. Ad- ams. Mr. and Mrs. Jackson Wray and two daughters,t Oshawa, vis- ited his parents, Mr. and Mrs. T. Wray an Sunday. Mr. and Mrs. J. Warrack spent Sunday in Toronto. Miss Pearl Gilbert, Reg. N., ac- companied by Miss Mary Hand, Toronto, spent the weekend with her parents, Mr. and Mrs. Gea. Gilbert. Miss Jean Kersey. spent tbe weekend with Toronto relatives. A chest X-ray clinic was heid at the town hall on Wednesday which was a busy day for those in charge. Rev. S. R. Henderson, Bawman- ville. occupied the church pulpit on Sunday evening in the ab- sence of Rev. R. R. Nicholson who xvas iinable ta take bis work on the circuit on account cf iilness. His fine message was much ap- preciated, alsa the sala by Miss Grace Nicholson, ber selection be- ing the lovely old hymn "Softly and Tenderiy Jesus is Cailing". Mr. Nichelsen's services and bis helpful messages have been much appreciated by the Hampton people wha hope ta hear him again on future occasions. The induction service for aur new pas- tor, Rev. Gea. Empey will be on F'riday evening, June 30, with Rev. Gea. Telford of Oshawa, in charge. FIRST FAMILY 0F MANITOBA FLOOD: VICTIMS t>' recelve interim aid from the Flood Relief Fund was that oil !Mr. and Mrs. William Borsboom.- The flood ruined their! two-storey home on the banlcs of the Red in St. VitaL -#Thw ljnterlrn paynient of $300 will be used tq begin byn flurniture and clothing to replace the effects lost while the waters swirled around the dwelling for week after week.1 iMr. and Mrs. Borsboom have Il childrea» and a.fter the cheque had been preseruted by Harold A. Steele, vice. chairinan and administrator of the Funds Restoration ýCommnittee, the mother and father hurried to their tempor- oey quarters to tell the family. - They cire shown wlth; Anna, *5. on Mr. Borsboom's knee whlle Mrs. Borsboomi holds Elizabeth, 2. Behind themn are Teresa, 12; Gertrude, 14; John, 21; George, 20; Kathleen, 17; and Edward, 9. When the plcture was talcen one child was 111 and twoý were cd 'work. When the flood forced themn out of thefr, home, the family went to live with Mrs. Borsboom's brother, lames Overwater. Mr. Borsboom's market garden business was "put back many years" by the flood. It is to help replace and repair flood-damaged household and other personal efects that the Manitoba Flood Relief Fund was established. Contributions may be mailed direct to the Fund In Winnipeg or to any branch of a.Qanadian, bank. (Glenholme Hughes) Cutting the grass is one of the garden chores which falis, by tra- dition, ta the lot of the so-called head of the house. Sometimes he does it, sometimes just taîks about it. Mine was a fifty-fifty prop- osition. I did cut the compara- tiveiy smooth front iawn; talked about it too, boastfully. The grass in the back yard is a different story. It is tufted and the ground is rougl. I taiked about it for too long and until it was too long ta be cut with an ordinary ilawn mawer. By this time my wife wanted the hay re- moved from the garden and she asked me if it could be cut by shears. I thought it migbt, but then we bad no shears. What were garden shears anyway? Visions came ta me, tearful pie- tures of me staoping, sweating and making slow progress with the sort of two handed scissor-like instrument with wbich I had seen someone in England trimming a hedge. That would not do, too much like work. I breatbed a sigh of relief and became as haugbty as a real gar- dener wben she disclosed that wbat she meant by shears were the five inch kitchen scissors. "Ridiculous", I said, but realiz- ed that sometbing must be done s0 made arrangements ta borrow a scythe. The obiiging owner as- sured me that it had just been sbarpened. "I don't need it yet", I sald bur- riedly. "I must finish painting the kitchen flrst". It did not seem necessary ta add that the redecoration of the kit- chen had been going on for five week. It cons isted of short periods of sioshing one pint of paint an the ceiling and walis and one pint on myseif and other places where it was wasted, and long intervals of rest and recov- ery. Witb care this job sbould provide light labour, ta the ex- clusion of real hard work, for an- other five weeks. Saturday afternoon a guilty conscience drove me back ta paint- ing. 1 could not overda it be- cause there was only a little paint in the bouse. A very short stretch would give the appearance of reai industry, especially on a Satur- day. My wife seemed pleased that I was taking some interest in the home and she and the children went out Into the garden. Thre, or perhaps oniy two hours later, I decided ta smoke my seventb cigarette and take my seventh rest peniod. It would be nice ta en'joy this smoke in the garden and, as far as anybody knew, it was the first time I had Bow my wdfe using the kitchen wclaoru. aided by my daughter, 8. wiald. ing small household scimssand my son, 4, with nail clippers,&U hindered by my 2 year aid daugh- ter who had been kept outalde me as flot to Interfere with my lab- ours. Something tells me that the' path of wisdom Is that cleered b>' the swinging blade, if only 1 ' SALEM The Salem Women's Association met at Mrs. Franka' on June 15 with 23 ladies present. Mrs. Bar- rie opened the meeting with hymn followed by the Lord's Prayer. Minutes of the lait meeting were read, 8i90 the Treasurer's report. Mrs. Collacott had charge of the following program: devotionai, Mrs. Collacott in charge, assisted by Mrs. Blackburn, Mrs. G. Bar- rie and Mrs. Welsh, reading by Mrs. Dlck Marchant '*The Home 1 Love". Mrs. Layman ci Hamp- ton favaured Wlth an enjoyable accordian solo; Mrs. Squalr gave a very interesting talk on "Heaith and Welfare of Mother and Chiid". Mrs. McClure gave a reading on "Travelling on the Bright Side". Mrs. Layman tavoured with an- other accordian solo. Mrs. Colla- cott thanked ail for heiping. Meeting closed wlth hyrnn and benediction. Mrs. Coliacott and her group served lunch. July meeting wili be held at Mrs. Matthew Marchant's. 7h. Path of W!sdom It wil flot, discolar or daricen frii oàl oul S t III i It's uel.-claning, taa-removes surface dirt. Years of extensive exposure tests under ma"y types of climai conditions, f rom strang sunlight and sait air to fheavy industriel fume areas, have proved the aupetiaxity of ns ew formula Oveq ardinary house paint ' Corne ln and ask us about new Fume-Proo,S MLN1 Sua-Praof Houle Palut.L61 stopped working. Prepared toa c- cept praise for my efforts and ta boast about my prowess with a scythe and what a clearance I wouid make in the garden,*some- time in the future, I stepped an ta the back stoop. At least tifteen feet square af the hay had been cut down to the size cf respectable garden grass. This had been accompiished by could swing lt. '"DOTTLED CAS'i FOR RURAL HOMES AND HOMES BEYOND OURE MAINS Investigate e& ONTAIO SHORE CAS Ce . 15 King St. EL, OSHAWA Phone 8300 £ 'J * w i .0 manvifle FINALLY HERE!! * HAYDON (Intended for last week) W. A. was held at Mrs. Frank Denby's on Thursday. Bible reading was read by Mrs. Don Carr and the devational and praSr. er by Mrs. Chas. Garrard. Vocal colos were given by Aileen Mc- Alpine and Garth Olesen. Vocal duets by Katie Olesen and Ray Ashton, also by Ina Beryl Read and Garth Olesen. A selection vas given by Katie Olesen, Mary Lipstay and Ray Ashton, also one by Aileen tvcAipine, Lynda Potts and Jeannie Bertrim. Margot Rankin and Ina Beryl Read play- ed a piano duet. Mrs. Cecil Sle- non gave a paper on the life cf Charles Dickens. It was decided to danate $5.00 towards the Win- nipeg Flood Victims Fund. Lunch %as served by Mrs. Don Cam- ron's graup. It bas been ne- 'lected ta mention that Mrs. 01- sen sent the W. A. some Danish 'astry while she was abroad. 'his was served at the last meet- Ig that Mrs. Olesen's group was In charge of. A vote cf thanks is lng overdue for sending the ldies this deiicacy. Mrs. Wm. Martin attended the graduation of Miss Dorothy Fer- juson of the graduating class of )shawa Generai School of Nurs- ng at the O.C.V.I. Auditorium on riday evening. Mr. and Mrs. Bill Stevens and ynda at Mr. Russell Cochrane's, urketan and attended Enfield nniversary. Mr. and Mrs. Don Carr and amily at Mr. Walter Carr's Cod- ngtan. Messrs. Reid and Alwyn Dickie, 'admus, at Mr. Dan Black's. irs. R. Olesen and family at Mr. ick Patts'. Ir. and Mrs. Lloyd Ashton and .miiy at Mr. W. J. Bawman's, :nfield. Mr. Morris Bell, Miss Vivian 'owling, Lindsay, at Mrs. T. 'wling's. Mr. Wm. Corrigan, Miss Olive Lankine and friends, Toronto, at *r. Chas. Rankine's. Mr. and Mrs. Les. Garrard, To- onto; Mr. and Mrs. James Heath id Douglas, Sharbot Lake, at Mr. 'as. Garrard's. Mr. and Mrs. Bert Ashton and mily, Mr. and Mrs. Louis Ash- :n and family, Toronto, at Mr. lenry Ashton's. Mr. and Mrs. Fred Ashton and 11,l Toronto, at their cottage. Mr. and Mrs. Douglas Fontaine, lranto, at Mr. E. A. McNeil's. Mrs. M. McAlpine, Toronto, at Ir. J. H. Walker's. Mr. and Mrs. Gea. King and, Two famous names have combined to bring Canadian home refrigeratian at its very best. Gibson is a name long famous in the refrigeration field; a name that stands for continued advance- ments in features, construction and design. The name Fairbanks-Morse has been associated with quality merchandise for 120 years. Together they place the resources of both companies behind every refrigerator that bears the Gibson name. Check These Construction Features:- * Three full-width shelves. UC- * Two ice cube trays, one plastic, one aluminum. *Porcelain. enarnel crisper. *One-piece, ail steel, 18-gauge cabinet, com- pletely sealed. *Insulated with high-quality Fibergias, moisture proaf and vermin proof. Single dial eye-level contrai. U*1-type evaporator door in centre. Roller-gnop door latch gives Snap-Seal positive locking action. *Inside porcelain enamelled to resust rust anud acids. *Compressor bas scotch yoke mechanism for quiet, trouble-f ree aperation. Ha. only three moving parts with large bearlng surface. *Five year warranty. *Automatic light. ONLY $339-50 LANDER HARDWARE 7 KING ST. E. BOWMANVILLE PHONE 774 wà PAINT & WALLPAPER STORE 85 King St. W. 1 'GB SON' 7 Cubiec Foot ELECTRIC REFRIGERATORS Most important Paint Adivanc.m.nt ln 25 yoars New ]FumeÎ-PrS'f, Suný-Proof Hdu- paint produces a filmn of unusual whken«&. J. H Abernethy F3515 - fo qý latzm F m»I k " Ïl% T 7 KING ST. E. BOWMANVILLE PHONE 774