"A Great Fraternal Order Strengthened and Made One of the Biggest of Its Kind In the World. Supreme Chief Ranger E. G. Tells a Wondarful Story Attendance From All Parts of the United States. Alas amas 80d As a token of sincere regard for his work in the fraternal world, for his guidance of an immense organ: ization, the Independent Order 'of Foresters, through the slough of des- pair, placing it on a satisfactory basis of solvency, and making that order one of the biggest of its kind in the world, the leaders of Ontario's business, commercial political, soc- fal and religious life, met at the Temple building Thursday night to do honor and tender a complimen- tary banquet to the Hon. EHjott G. Stevenson, Supreme Chief Ranger of the Independent Order of Foresters. Prominent public men also came from western Canada and the Pacif- fc States to take part In the celebra- tion, as well as large delegations from middle western States and states south of the Great Lakes, and each vied with the other in their demonstration of loyalty and affec- tion for their chief. Four hundred and fifty men in all were assembled in the large ban- queting hall, the decorations of which were superb. Over the head table, at the back of his successor, was hung a life-size painting of the late Venerable Dr. Ornohytekha, who passed to his reward just seven years ago, which was adorned with Unfop Jacks and the Stars and Stripes. The tables were tastefully decor- ated with clusters of red carnations and pink roses. An orchestra, which rendered musical selections during the banquet, was hidden by a huge bank of exotic plants. Those present at the head tables Were: -- Some Who Attended. Major Beatty, M.P., London; W J. Douglas; P. W. Ellis; F. W. Har- court, K.C.; Hon. W. H. Hoyle; R 8. Gourlay W. F. Maclean, M.P.; ex- 'Mayor Oliver; John A. Paterson, K C.; Bishop W. D. Reeve, George P Scholfield, President of the Standard Bank; Rev. Byron Stauffer; Lieut.- Col. Curry. M.P.; John R, Robinson; Sir" John Willison; Thomas Wood- yatt, Brantford; J. M. McWhinney; Alfred Miller, London; A. I. Malone, Hon. Robert Jaffray; Claude Maec- donell, M.P.; J. F, MacKay; W. K. MeNaught, M.P.P,; W. J. Vale; Vie tor Morin, LL.D., Montreal; George E. Scroggie; F. ¥. Pardee, M.P., Sar- nia; Col. N. F. Paterson, K.C.; FF. W, O'Flynn; Frank Glass, M.P.; J. BE. Atkinson; W. P. Gundy; Dr. James L. Hughes; J. Castell Hopkins; A. F. Jones; J. A. Medland; E. T. Essery K.C., London; George H. Smith; N. W. Rowell, K.C., M.P.P.; Wm. Banks; Samuel Barker, M.P., Hamilton; Col Sam. Sharpe, M.P., Uxbridge; R, J Ball, M.P,, Hanover; Dr. G. H. El liott; Mayor Cowan, Barrie; C. H. Merryfield. London; 'Alex. Coulter Keeper of Seals, Knights of Pythias; W. F. Chapman B.A.; Mayor Bush, Port Hope; Dr. J. A. Macdonald; Senator Kerr; Controller McCarthy, Controller Simpson; John Maedon- ald, Municipal Improvement League; F. J. Darch, Supreme Secretary; R. Mathison, Supreme Treasurer; J. D Clark, Dayton; W. H. Hunter, Su- preme Counsellor; Dr. T. Miilman, Supreme Physician; Dr. Hughes, High Chief Ranger, Winnipeg: Dr. G. M. Schaubel, High Chief Ranger. 1llinois; Henry Rochen, Montreal; W. H. Moorhouse High 'Chief Rang- er, Sault Ste. Marie, Ont.; J. 8. R McCann, Kingston; E. E. Snider High Chief Ranger, Port Hope; C. N. Greenwood, High Chief Ranger Stratford, Ont.; M. L. Higgins, High Chief Ranger, New York; H. Chap- man, High Chief Ranger, western New York; Hugh Thompson High Chief Ranger, eastern New. York; W. T. Bingham; Dr. Clawson, High Physician, New Jersey; C. W. Min- gle, High Chief Ranger, eastern Pennsylvania; W. C. Heverley, High Chief Ranger, western Pennsylvania; Dr. C. Day Clark, Assistant Supreme Physician; Rev. A. Maegillivray; C. A. Stone; 8, Martin; George A. Mit- chell; Controller T. L. Church; E. J. Hearn, K.C.; R. J. Niddrie, M.D; George L. Wilson; Alex. Stewart; Hon. Thomas Crawford. Rescuing the Order. At the conclusion of the feast Toastmaster EB. W. J. Owens, M.P.P., rose and proposed the health of King George V. and Presideiit Woodrow Wilson, which was responded to by tha singing of the National Anthem and "My Country 'Tis of Thee." Mr. amid cheers, declared that the celebrations were a tribute which any man might be proud of. "Mr. Stevenson has had many trials, but fortunately he has been able to guide the order through trials and tribulations, and place it on a basis of complete solvency," said he. "May we continue to have this distinguish ed leader #s our guide, philosopher and friend. The 1.0. F. has 'done utmost good for the poor widows.and orphans, therefore we should make some extra effort to make the order even more' stronger numerically." (Applause. ) . He then called upon Mr. R. XL Niddrie, M.D., to read and present an address expressing the order's ap: Jraciation of Mr. Stevenson's fidelity OWard its interssts and progress. 'It reads as follows: . Address to Mr. Stevenson, Te ihe Honorable Blliott G6, Stevens Stevenson, at a r Progress A Largs 0 Canada son, Bupreme Chief Ranger, Inde- endent Order of Fou era Brother Stevenson~--It Is fitting at this time that we, oP toaenting 28 we do to-night many of the High Court Jutisdietions in the In ent Order of Foresters, should. ten you our best wishes for the coming year, which we hope wll be ir you and you: colleagues as pleasantly peacefu as the year 1913 was honorably stren- uous, « "The older among us cam remember the nursing years of 8 DOW power- ful and stable Order snd the hand-to- mouth existence of a slehfler band of earnest men. Ve can a remember the steps by which the der gradu- ally increased in numbers and in in- fluence until it emerged into the sec- ond stage of legal recognition by the Governments in whose territory had established our courts. With re- cognition of the fraternal system game responsibilities to make fraternal: in- surance safe and sound for the de. pendents of the members. It has fallen to your lot to bear these respon- sibilities for us and we thank you for Your six years' labor as Supreme Chief Ra ger. t the outset of your administra- tion you were confronted with many and serious problems. ' These you have successfully splved, That Success was due to the confidence the members and of the public in your leadership, "Of a continuance of this support we can confidently assure you. or. proud as we have been of the early struggles of the Order, proud as we have been. to see it rear its temple in the Queen City of Ontario, roud as we have been to see our Chiefs res cognized by statesmen and Govern- ments as men of public eminence, we are tornight prouder still of the work that has enabled us to fulfil that first, last .and basic obligation of an insur- ance fraternity, the obligation eof sound finance. "Signed on behalf of the w 'R. J Committee, Owens, K.C, M.L.A (Chairman.) Niddrie, M.D., (Secretary)." Ovation to Mr. Stevenson; Strong' Ad- dres in Reply. Seldom is ihe subject of a demon: stration siven such an ovation as Mr. Stevenson received as he rose to re- spond. Vociferous cheering lasted several minutes and ended with mus- ical honors. Mr, Stevenson said in part:-- I thank you very sincerely for your kind and generous wordss and 1 as sure you that had it not been for the many. and continued evidences of your confidence and loyalty and support of the active men of your society the important work you have referred to in your address as ac- complished would not have been pos sible' of accomplishment. As earnestly as I have striven to serve our society and its membership ~-servieces rendered at considerable sacrifice of health and strength--I realize how futile would have been the efforts made to place our soeioty in the proud position it occupies to- day as one of the very few fraternal societies on an actuarily sound basis without the sympathetic, support and encouragement @f a greater portion of your membership. 3 It is nearly seven years since the late lamented Oronhytekha was call- ed to his reward, and almost at the moment that he answered the sum- mons. of the grim. reapef~eame the report of the Royal Commission making radical recommendations with reference to action to be taken by our society to safeguard the ia- terests. of our membership and the public by placing our society in a po- sition where it could be hoped to carry out its promises to its member- ship and other beneficiaries. Accompanying the report of the Royal Commission was a proposed bill 'which it was recom ded should be enacted as law. The pro- visions of this bill, so far as it affect- ed our society, were withdrawn upon a pledge made by the executive offi- cers of the society, and a deputation that waited upon the Minister of Fi- nance, composed of leading members of the Order gathered from every Province within the Dominion, that we would at the earliest date pos- sible da Whatever might be found to be necessary to place our society on a sound basis. r x "'Responsibiligies that were not then realized devolved upon those of us who had to take up the burden of meeting the requirements of the Gov- ernment and discharging our duty to our membership and the public. "1 say, to the public, as well as the membership, for the reason that the solicitation of the public to con- tinue their confidence in our society and manifest it by aiding it in in- creasing its membership involved an obligation upon our part to see that those who should thus be influenced to entrust the protection of their families to our society should not be disappointed in finding in' the end that their contributions for the pro- tection of their families had been absorbed in. meeting obligations to those who had long before become members, but who had from the be- ginning paid inadequately for . the benefits promised them. Contributions Were Inadequate. It bas been a soiree not only of regret but of sincere sorrow that in working out the result that has been accomplished, bitter disappointment had been brought to many of aur members, who were unaware that their coiftributions had been inade- quate, Many have been found who to have beén unable or unwilling to recognize that what had been done in the way of imposing tional bur- fons upon them was > able to see lucreasing accumulation .of assets, '| cumulated funds and we and they closed their minds to the consideration of the other side of they for. 'When carefull considered the sit- uation was a simple one. As at December 31st, 1912, we had in hand twenty million dollars eof ac- two hundred and forty million dollars of obliga- tions that all had to be provided for within the lives of our 240,000 mem- bers. To meet these obligations we had this $20,000,000 in hand} We could- count on the interest be earfied on this accumulation and up- on the premiums that would be paid by our members. - These items constituted everything that would be available to meet our $240,000,000 of obligations, and when we took stock 'in an intelligent and scientific manner, we found that instead of having $20,000,000 in band, we should have had $45,000,- 000, and that with this sum and the interest to be earned upon it and the premiums to be paid by our members, we could just meet our ob- ligations as they matured, accord- ing to our society's mortality and disability experience. It was further ascertained that all of the deficiency existing in our as- sets, as compared with our liabilities, was created by the inadequate con- tributions of members that joined our society before 1899, and that those who joined after 1899 were paying in full for the benefits prom- ised them and their beneficiaries. The difference in the situation of members who joined-before and af- ter January 1, 1899, resulted from the fact that, as the result of legis- lation by our Supreme Court in 1898, a new table of rates, largely increas- ing those in force prior to that time, came into force. but this table of rates was, unfortunately, only made to apply to those who joined after 1899, Having made a pledge to the Gov- ernment to take steps to make pro- vision that would enable the society to meet its obligations to its mem- bers we set about to do this by em- ploying competz2at actuarial assist- ance and establishing a statistical de- partment that would enable us .to ascertain the exact mortality and disability experience of our society. A Deficieny of $23,000,000. When this work was completed it was, as indicated, found that there existed a deficlency in our assets as compared with our liabilities of $25, 000,000--a deficiency thatshad to be provided for unless the society was to bef permed to drift into slow liquidation and in the end disappoint- thousands of our members and their beneficiaries. ' After the actuarial results referred to had been ascertained we spent long and anxious days and weeks and months in endeavoring to work out 4 plan that would make the burden that had to be imposed upon those whose inadequate payments had cre- ated this condition as light as pos- sible, with the reseult that all who had part in deciding in the plan that was best to be adopted was best in the interests of all concerned, hav- ing in mind the necessity of once and for all time placing our society tha a sound basis. The situation that I have outlined ought not to have been a surprise either to our membership or the public. Our society for upwards of fifteen years has been conducting its business in Great Britain, and under the laws of Great Britain, every in- surance company and society is re- quired to file quinquenially with the Board of Trade a valuation of its liabilities. December 31, 1907, was when such a valuation had to be filed. and when this valuation was filedl it showed that there existed as of that date a deficiency in our as- sets as compared with our liabilities of $55,000 090. a date » A Rates Inadeq Complaint has been made that in the plan adopted we discriminated against the old members and that in fact the deficiency referred to that It: was necessary to provide for should have been covered by assessments 'spread over the entire membership instead of being levied against. that portion of the society whose inade- (uate payments had created the .de- Relency. In this connection the fact must be borne in mind that the society in 1898 when it adopted its new and in- creased table of rates . and assess- ments consisted entirely of what are now commonly spoken of as the old members. : It was recognized that the rates of astessments in force up to that time were inadequate, else there would have been no need of putting into force a table of assessments inereas- ini such rates of assessments. The representatives of the then membership thus recognizing the in adequacy of the rates then in force Rafe provision that only those who should thereafter join should pay the inadequate rates then adopted, and that those who upto that time, num- bering more than 100,000, who then constituted the society, should con- tinve to pay the inadequate rates be- fore then in force. 5 -- A Fraternal Fund. in view of this it seemed inequit- able that those who thereafter join. ed in paying the increased rates of assessment and adequate rates of Jasess ent ove fg datas burdened nia pro n whole or in part of the inadequacy of the pay- ments made by those who had joined before 1899. It was nevertheless re- cognized that there was an i nereased appear burden 'mposed upon the survivors of the members who joined before 1898 in that the bye 0 . deficiency existing was sirbudon'st Hows vaoniad i fo coived : promised - To was provided in our cently adopted that should be transferred into a fraternal fund against the assessments the post-1898 members, as well pre-'99 members. 20.000,000 the who joined since 1899, and inasmuch as We are earning a fraction over 5 accumulated funds 1 per cent. upon the $14,000,000 belonging to the post-1898 members, amounting to $148,000 per apnunt, goes to the fra- ternal fund reférred to for the relief of the so-called old members. Mr. Stevenson rejoiced in the pre- sence at sthe banquet of so many prominent citizens, whom he gladly addressed on the merits of the Order. He continued: Powerful Agency For Doing Good Our soclety is considered, and is a great society and a powerful agency for doing good to mankind, but in membership and the extent of its ob- ligations it is insignificant as com- pared with the aggregate membership and obligations of fraternal insurance societies generally. ; Statistics show that at December 31, 1912, there were twenty frater- nal insurance societies conducting business within the Dominion of Can- ada, and 397 within the United Stat- es. The former had a membership of 809,090 the latter a membership of 9,963,000, a combined membership of 10,772,000, that the former, the Canadian societies, had insurance in force of $596,604,000, and the Am- erican societies $9,472,232,000, a total of insurance in force of $10,- 068,868,000, and that the combined assets of the Canadian societies am- ounted 16 $35,011,000, and the com- bined assets of the societies within the United States to $163,638,000. It will thus be seen that as against obligations that will Have to be pro- vided for during the lives of the - sent membership aggregating $10.- 068,868,000, there was accumulated assets amounting to $198,000,000,0r less than fwo per cent. bf the aggre- gate of the obligations outstanding, and while the membership of the In- dependent Order of Foresters repre- razented only two and a half per cent. of the entire membership its accumu- lated funds amounted to ten per cent. of the entire accumulated funds and then was $25,000,000 short of what was necsesary to provide for its obli- gations. When it is considered that this membership of 10,000,000 has under- taken to provide protection through this $10,068,000,000 of insurance in force for rractically fifty million Women and children and that this fifty million svomen and children will Sooner or later be largely dependent upon this protection for their future necessities or comforts and that in- adequate provis'm exists for matur- ine this protection, the situation really becomes arpaMing. Put Them on Sound Basis I must not be understood as at- tempting to minimize the importance of fraternal insurance societies, for 1 'recognive that they are among the areatest agencies available for im- proving conditions and protecting the fami'ies of wage-earners throughout this and other countries. 1 do, how- possible the importance of having these societies that are doing so much good placed upon a somnd basis s0 that they may continue the splen- did work they have been doing, for notwithstandigg the that have existed in their places from the outset they have up to date dis- tributed tothe widows and ofphans-- beneficiaries of 'members of these so- cieties--a total Bxceeding 2,156.- 000,000. a sum largely in excess of the combined public debt of the Do- minion .of Capada and the United States. and the Indépendent Order of Foresters has done its share. on this beneficial /work--it has to December 31. 1913, disbursed in benefits $41. 900,320.49. . It will have served my purposé if what I have said shall enlist the in- terest of some of those who may be influential in bringing about needed reforms in connection with the financial status of these societ- es. Now on Sound Basis So far as the fixing of the finan- cial status of our society is concerned. our work is finished. We have a so- Cioty one hundred per cent. sound, able to mieet all legitimate calls up- on it with respect to its obligations, present and future. 'We must for the future look for- ward not backward, and with united effort endeavor to make it even more useful than it has in the past. I assure you that our soc will have my earnest endeavor 16 advance and protect the interests of its mem- bers wherever resident, and pledge mysait in the sgminkersiion its recognize no lines of divi- Str John Willison; 'who pr the toast io the Parliament of ed to the ¥ ada, at first referred the after January 1st, 1899, and that for all Hime In the future there should #0 (racting the attention of PAFHAIGN LS, to relieve levied against the so-called old members the interest earnings above 4 per cent. upon the accamulated funds of Of the existing accumulation of members that joined before 1899 and $14,000,000 belonged to those per cent. on the investment of our ever, desire to impress upon everyone | imperfections, Mies Scott. at E. T. the LCan- work & He declared social but old-age pensions, ete, are only on the horizon. "But your order," sald he. "is ascomplishing all these reforms without the brass band ac- companiment -- without fuss and as feath pon the accumulated funds of the aH, "Jt is dbing a work that is hum- an: it is good in the very best sense. With the stroke of a pen wou take $6.000,000 belonged to the wolf from the door and - are, Cc therefore, in a position to say to the La Parliaments of Canada, 'Go thou and do likewise," and accomplish what you set out to do." (Laughter) He made an eloquent plea for great interest in the accomplishments of 'those who sit in Canadian Parlia- ments. i Mr. Claude Macdonnell, M.P., who sponsored the 1. O. F. bill, which passed Parliament last session. also tpoke on the merits of the order. Mr. Rowell's Tribute | Mr. N. W. Rowell, leader of the Ontario Opposition, responded to the toast to the Legislature. As he rose he was greeted with loud cheers and the waving of handkerchiefs. "I am here to pay my respects to your Supreme Chief Ranger," said he. "He is a man for whom I have a great deal of regard. Though born in Middlesex county, he had attained a very high position before the Ameri- can Bar, but relinquished it to come back to Canada to render a public service by the successful working out of the destinies of the I.OF. He is a strong and courageous leader. He has grappled with a serious condition oi affairs, and the result reflects cre dit on himself and the order as a whole. | "Of course, there are some who disagree with his schemie, and I am sorry to say that I honestly cannot offer any sympathy to the minority. He has done what was best, and now occupies a position for which he is peculiarly adapted." hi | Hon. Thomas Crawford, who also responded, in the absence of Hon. W. J. Hanna, declared that Mr. Steven- son deserved the utmost credit for his | accomplishments. Dr. J. A. Macdonald proposed health the of the "American Brethren." He complimented the meniber of the order: on having Mr. Stevenson at the head . of affairs. "Your Executive has done its duty," said he. "Your order accomplishes a noble task be- cause it ministers to the weak. No nation can be great if it neglects the poor and the needy, and.the flag is stained if it floats over slums and ill-fed people." Hon. W. E. Brown, of made a suitable response. Dr. T. A. M. Hughes proposed the health of "The Workers," which was responded to by Dr. W. A. Thomson, Dr. G. M. Schaubel and Messrs. Hugh Thomnson, E. Talbot and R. J. Mac- donald, : . at. Hackett, of this city, was a guest at the banquet. E. 'Bothwell was al®o invited but previous engage: ment prevented his attendance, Michigan, Notes From Selby Selby, Jan. 8.--The entertainment held on New Year's night was a 'success. Dr. Paul and wife, of Chi- cago, spent the holidays with his par- ents here. A large number attended C. Joyce's sale on December 30th. Little Lengs Gollingher is not much better. Mr. and Mrs. F. I. Amey spent Sunday with friends at Bell Rock. E. T. Anderson had a bee on | Taesday, drawing wood. School open- ed, on Monday, with Mrs. Alexander {at the helm. Guy Hudgins is getting better. Mr. and Mrs. H. Abbott spent | Monday with friends at Leinster. Tho teachers from here have all returned | to their schools. Visitors: Mr. and Anderson's; Mr. and Mre. McCracken, at E. Doidge's; Mr. and Mrs. Martin and family, at H. Martin's; Mr. and Mrs. F. Knapp, at Mrs. Knapp's; Mr. and Mrs. C. Thompson, "at N. Hunt's: Mr. and Mrs. N. Anderson, at H. Abbgtt's. As it nears the stopping place retribution is always fleet of foot. The word in season is often too late to be of any practical value. If it is idle gossip, idleness of the tongue is better than speech. re -------------- INANCIAL_ MATTERS Turned Out More Engines Than Ever Before--aA Concern to Apply For Incorporation at Ottawa. Torpnts, Jan. 9.--In a ay the year in the Cobalt, Ben- jamin Hughes, of Cobalt, has the fol wing : ies qe _ "The following table shows the esti- mated production of the chief perform- ers. in the Cobalt marathon of 1913 as €o with 1912. The total fot 1913 is estimated for the last month of tho year, and in one or two in stances the last two and three months : Gross -3 p- © " -3 «© 0 1080 4 : £ = Crown Reserve ... Cobalt Townsite... Cobalt Lake ...° O'Brien ...... RE *Sen. Superior ay ... . *Penn. Canadian *Output in 1912 These figures comprise only the prin- cipal producers in the little ten square miles of Cobalt, the core of which is the Nipissing and Cobalt Lake." Fontan Hudson's Bay Land Sales. London, Jan. 9.-~The Hudson's. Bay company reports wveceipts from land sales to the amount of £112,300 for the quarter ending December 31st. as compared with £97,200 for the same period in 1912. A decrease, however, is noted in the last nine months, there being only £327,000 receipts as compared with £582,200 for the correspon ing period of the previous year. i] iin was negligible, Baldwin Locomotive, Philadelphia, Jan, 9.--The Baldwin ocomotive works has issued the fol lowing" summarization of its business inthe year just closed : During the vear 2,025 locomotives were construct ed, as against 1,618 for 1912. Of the number 1,811 were for use within the United States and 214 were for export to foreign countries. The average number of men employed throughout the year was 15,813. At the Present time about 11,000 men are carried on the rolls. New Mortgage Company. Ottawa, Jan. 9.--The Buitish French Canadian Mortgage tion, Limited, will apply for incorpor ation at the next session. ,The amount of capital stock will be $2,000,000. The provisional board of directors will be all Toronto men. and Corpora- Coai Production. Philadelphia, Jan. 9.--~Penpsylvania, as a producer of coal, broke all previ ous reco this year, According to advance statistics, announced to-day by the Geological Survey, the combin- ed production: of anthracite and bit. umionus coal in the state probably will amount to 267,000,000 short tons. Enormous Capitalization. Montreal, Jan. 9.--According to the London "tock Exchange Year Book" the actual 'number of companies in the United Kingdon has increased from 37,2587 in 1914 to 60,754 in 1913, and financial | 507 us ein and surplus $8,750,000. to the the enormous sum of £2495 i 740,857. : : Financial Notes. Ten Canadian ios increased their annugl roth of ibution of profits i y ( \ It gp in Berlin that the Prussian Empire is arranging big loan at an early date. v in 1820 there were 8,635 savings bank depositors in the United States. In oul the number had grown to 9,- , 185. ! 3 1t is understood that the city 'of Vancouver shortly will be flgating £200,000 five per cent loan at 91 Security National bank of Minneapo- lis has declared an extra dividend of 4 per cont, making the total dividends paid for the year 20 per cent. Authorized capital of the Martin. Bennett Asbestos Mines, 1td., has been increased from $1,500,000 to $2, 464,000. The executive committee, of the Law yers' Mortg company added $250,, 000 ont of its profits for 1913 to the § v, making the capital Mrs. Constance, GG. Clemons has be ner in the New York Stock Exchange firm Carpenter McClave. She takes the place of her late husband. It is expected that Sir Max Aitken will sail for Canada to' take charge of the Venezuelan Ore company affairs. The interest on the million come a 1 dollars of outstanding bonds has 'not id. ; J. Be Mongar says he intends tore main. a director of the Steel Corpor ation, but his membership on bank boards will' He dependent on construc. tion of directors' liability clause ofthe Currency law, Sl Hon. Nathaniel Curry, president' of the Canada Car and Foundry company states, that starting on January 7th and for some months to come, only half as many men will be employed in the freight var shops of his company as were employed this time last year. man's reason may An appeal to than an appeal to be more sEuptive his, poset Be ii the devil is al ways satisfied vith week day ser- view" : _ Say your toWn is a good one, and then help make your words come true. > 5 Life would not be worth a farth- ing without the plan for to-mor- row, Tuftion rates in the school of ex- perience often prove exhorbitant The optimist always carries a big load of cheer and good feeling. We Offer ONTARIO TOWNSHIP DEBENTURES TO YIELD 51-2 per{cent. ONTARIO TOWN DEBENTURES TO YIELD 57-8 per cent. WESTERN SCHOOL DEBENTURES TO YIELD 7 3-4 per cent. WRITE FOR LIST Brent, Noxon & Co. - Canada Life Bl the total paid-up capital now amounts request. 86-88 eombeys C.P.R. RIGHTS We buy and sell CP.R. rights to new issue on _ commission. We will forward circular letter: on new debenture issue, upon - F. B. McCURDY & CO. ROC PHONE Montreal Stock Exchange and London, England.) H. Ww. NELLES, Manager E A. WOOD G. A" MORROW E R PEACOCK W. & HODGENS J. A FRASER J. W. MITCHELL » A L FULLERTON . Assn Secremnry NP ORONTO. CANADIAN GOVERNMENT MunicipaL AND CORPORATION BONDS Capital Paid Us HEAD OFFICE--TORONTO President + Vice-President + Vice-President $e - * - H G. WALLACE - v $1,000,000 500,000 MONTREAL E. C. NORSWORTHY - J A. McQUESTON Secrewry _ Cdnada Life Building Montreal, Que. LONDON (Eng) BRANCH Austin Friars House, 2 Austin Friar, Le London, Eng BRANCH = Manager J Manager