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"'Vvv 'V W‘w Vvfi l l . l i l l t l“ ##f’ffiâ€" Tris Reasons WHY! ' The everâ€"increasing consumption of tea throughout- thc'world â€"â€"particularly of British Grown Teaâ€"has created a demand much greater than the supply, which, among other causes, prevents really good tea being sold at former low prices- . . Russia and Australia are buying tremendously of British rown teas in place of China teas, and the consumption in Great %ritain is larger than ever. . ' _ The shutting out of over'15 million pounds of colored Chma GreenTea by the United States Government, the increased'use of tea due to higher prices of coffee, the greater acreage given over to the planting of rubber in Ceylon, the shortage in the Japan crop this year and the labor problem in all tea-growmg . countries are all factors which account for the much higher pri- The present revolution in China may also mean much smaller crops there next year and present indications are for still higher prices in the future- All these conditions either mean alower quality at the same prices, or the same quality at higher prices. Our experience shows, that the. tea drinking public prefers the latter. ~ “HONEST TEA IS THE BEST POLICY” Thomasd . Lipton, Toronto, om.- MM than Silt liilltilliilis INDUSTRIAL ' soups BETTER THAN REAL ESTATE MORTGAGES IF VALUE or LAND IS I sussmmnv; known. vative investors. And bonds. ment bonds, eagerly taken where, and so Canadians cannot Must be in Excess of Bonds, However, to Make this Trueâ€"“Industrials” Form a Popular Investment in Canada Where these the position in their scheme of in- Railroad Bonds are Practically Un- vesting that they deserve. As a"result, known. they must fall well down in rank of re- lative popularity. coming after trials. .â€" The articles contributed by "Inventor" are for the sole purpose of guiding pros- pective investors, and. if possible of saw ing them from losing money through placing it in “wild-cat" n-nternrises. Tho impartial and. reliable character of the Information may be relied upon. The writer of these articles and the publisher of this paper have no interests to serve in connection with this matter other than those of the reader. ' of course, but only in popularity. curities in accordance ____.______.â€"â€"â€"â€"â€"â€"â€"â€"-â€"â€" M of industrial bonds. (By Investor.) The relative popularity of investments in Canada differs very materially from that in the United States. Here. for ex- W he Merry??? Stop starving yourself-stop suffering the pangs of indigestionâ€"stop worrying about what you dare and dare not eat. Eat hearty meals of wholesome food, take and you'll feel like a new person. Sour stomach~heartburn~ occasional indigestionâ€"chronic dyspepsiaâ€"all yield quickly to NA-DRU-CO Dyspepsia Tablets. The properly digested food restores your strength, your stomach regains its tone, and soon requires no further aid. 50“). a box. If your druggist has not stocked them yet send 50c. and we will mail them. NATIONAL DRUG AND_ CHEMICAL CO. OF CANADA LIMITED. MONTREAL. as on any other winter day, you can make your home more comfortable andcheery by using a Perfection Smoke- less Heater. as “ EREEE’EEEG -’- Snoxmso . . Kyr . k Its genial warmth is quickly at your scrvice, ready for use in any emergency. You will need it as a supplementary heater when those extra cold spells come. Later you will find it just the thing for the changeable weather of early spring. géjgmgégzzgz,as« , p - . {3-5: “ The Perfection Heater is light and easily carried. It is safe in the hands of a childâ€"the safest and most reliable healer made. Drums finished either in blue enamel or plain steel, with nickel trimmings-*an ornament to any‘room. «.iégilfg;§;gx:<1¢i:?£g~ : . A special automatic device makes smoking impossible. All parts easily . cleaned. Gallon font; bums nine hours. Cool handle; dampst top. - Dealers everywhere: or write for descriptive cigcular to any agency of __ - ' The QLCEE City Oil Company, Limited gation than that of a _municipal. The safety depends. of course. on the success ..of the incomes lN TEA Pieces ample, railroad bonds are practically un- One can carefully scan the lists of bond dealers’ offerings and the ad- vertisements in the financial press with- out seeing any railway bonds offered for sale. In the States, on the contrary, they stand first in the estimation of conser- after railroad mortgage bonds come railway equipment In Canada, investors often have opportunities to invest in railroad equip- but as a rule these are in large amounts else- give indus- and even real estate mortgages and investment stocks, not in security, And so, as we are treating these se- with their rela- tive popularity and not according to their relative merits. we come now to the study “Industrial” bonds are bonds secured by mortgage of some manufacturing, mercantile or miscellane- ous company of a private character. The consideration of an industrial bond as an investment from the point of view of safety involves a more thorough investi- security on which the mortgage is based. 'over the amount of the out.- standing obligations. But this margin is by no means easy to determine. “Even when determined," says a writer on this subject, “the rule'is difficult of applica~ tion. because a margin which may seem insufficient from the point of view of phy- - sical valuation may be satisfactory when considered as the equity of a Working concern.” That is to say, the “good- will" of an active business, while it should not be reckoned as a proper security for a mortgage, may be of sufficient value to render the bonds amply safe when the good-will stands as a marginal security. Then, too, machinery is valuable only where it is being used. A negative ex- ample of this may be seen in the un- fortunate position of the bondholders cf the Amalgamated Asbestos Corporation. This company-primarily a. mining con- cern. but with many points in common with the ordinary industrialâ€"has valu- able properties and good machinery; but its business is one in which “good-will" â€"i.e., business connection, satisfied cus- tomers, etcâ€"counts for little. Conse- quently, when the demand for asbestos products fell off the corporation was un« able to sell its output in the face of competition. most of its customers pre- ferring, apparently. to . buy from any other company than the so-called “trash." Had it had a “good-will" worthy the name it might have'tided over the dull times in the aSbestos trade. It must be borne in mind, however. that good-will is not a proper security for a. bond. but is valuable only as an “equity." * as as lllllllllll CANADA ”WW%M”‘GQ.Ul WINTER HEALTH. A person who says, “I am neverI so well in the winter as I am in the summer,” is very likely to use the tone of one who states a natural law, which must be accepted with- out question of struggle. The fact of poor health in winter is unfortu- nately common with many persons; the question is, Need it be? u i In estimating the safety of industrial No doubt 111016 common sense bonds the most easily estimated asset is its real estate. The first point, therefore, to be determined is the value of the com- pany's real estate holdings, on which, of course, the bond is a first mortgage. Should, as is sometimes the case, the value of the real estateâ€"cxclusive of buildingsâ€"equal or exceed the amount of the mortgage the security is ample, and the bond has all the good features of a real estate mortgage, with none of its drawbacks. Of course, any first-class- banking heuse handling an industrial issue will not base this determination on the cost of the land or the value at which it stands in the company's books. It is only the’appraised value which is of any importance. For example, the property and plant of the Amalgamated Asbestos Corporation stood on the books last year at $17,000,000. Let us say that the plant took up $7,000.000â€"an excessive figure, of course. We have $10,000,000 for the pro. perty to stand behind a. bond issue of $7,500,000. But the $10,000,000 may repre- sent the PAR VALUE of securities paid for the property at the time of the amalgamation, while these may have been given at a value of only 50 cents on the dollar. In this way the actual cost of the property may be only $5,000,000, whereas the real worth of the property as determined by appraised value may be much less than even this amount. If, then, the appraised value of real estate is less than the mortgage the investor must consider several other factors. ”â€"48- ' RELIEVED HIM. “I say, old man, I need $50 badâ€" ly and haven’t the least idea where I can get it” “Glad to hear that. I thought perhaps you had an idea yen could borrow it from me.” ’X‘uâ€"__.___â€" If Your Baby Is Sick Give Baby’s Own Tablets. The little ills of babyhood and childhood should be treated promptly, or they may prove seri- ous. An occasional close of Baby’s Own Tablets will regulate the stoâ€" mach and bowels and keep your little ones well. Or they will promptly restore health if sickness comes unexpectedly. Mrs. Lenora M. Thompson, Oil Springs, Ont., says :â€"-“I have used Baby’s Own Tablets for my little girls as ocea- command health through the win- ter months. The reasons are obvi- ous. In the summer the most in- veterate house-dweller is driven inâ€" to the open air; the hungriest meatâ€" eater calls for fruit and salads; the stuffiest sleeper throws open the bedroom windows. The conditions forced on all of us' are, with the exception of extreme humid heat, the conditions that mean health. The result is that many persons who are generally below the level of their best health are at the high- est point of physical efficiency in September and October, after their few months of enforced healthful living. From that time on, with the closing of doors and windows, and the resumption of heavy meals, they slip down-hill again. They have no especial theory :about the summer regime; it is only that they do what nature forcâ€" es them to do- to the winter regime, on the other hand, are both many and strange. An extreme terror of drafts and damp feet is offset by a callous in- difference to stuffy sleeping-rooms and rocking public places. Many people pass through the entire win- ter in air unfit to breathe, if the short periods of time during which they are unwillingly out-doors in going from one building to another aré excepted. Each cold is prompt- ly laid to the account of these brief journeysâ€"never to bad indoor air, overeating and lack of proper exâ€" ercise. Having wet feet is very easily avoided by persons who do not wish to have them. At the same time, wet feet cannot create grippe un- less the grippe germ is there to work with; and perfectly well perâ€" sons are germ-proof persons. That is the goal of all hygienic struggle â€"to be germ-proof. As to drafts, they are the most wholesome of things for those per sons who have educated their bedâ€" ies to them; and since they are unavoidable in a world like this, the sooner a man educates himself to them, the better, although that does not mean that he should search for drafts to sit in. When a per- son feels a shrinking from a draft, it is because at that particular mo- ment he is not in a condition to stand it. and nature is giving him a hint to move on.â€"Youth’s Com- panion. sion required. and have found mm..â€" them always of the greatest help- No mother, in my opinion, should CONFECTIONERY- be without the Tablets.” Sold by medicine dealers or by mail at 25 cents a box from The Dr. Williams’ Medicine 00., Brockville, Ont. _._._% -.... ___.__. DESSERTS. Coffee Pontea.â€"â€"A simple dessert and a most excellent one is made with one cup rich cream, one cup sugar, one-half cup strong coffee; have cream and coffee chilled, add sugar, whip stiff. Pour in mold, pack in snow, and salt or ice for several hours. ‘ Banana Royal.â€"Take one pint of cream, three well beaten eggs, one cup of sugar, and one teaspoon vanilla. Stir thoroughly and freeze for twenty minutes, then divide in- to Six parts. Take six small ba- nanas and cut them lengthwise and lay two halves on each dish; then add preserved fruits to suit taste. % ISSIT E 4-3â€"11 Sea Foam.â€"Use two cups of best brown sugar, put enough water on to melt sugar, boil until it can be made in soft ball; beat white of an .' goes up. : would probably force them up to $105. .i at a profit and re-invest the funds. 3 Eli We will be glad to place your name ' new issues of bonds are made. ', the form your investments should to 3 of interest. . S E. C ROYAL 1 BANK or mou'rnmnsuubiuo - R. M. WHITE. M image: “W‘suhz‘ 91‘ El). (5A ,5 1...,” I‘m-v... i L. 3 .A ' ""1'â€"- -"-' e -- _., »;_ym5 .2:M.._w~amn nunâ€"nu My”- . ’ o ‘ stream, beating and more self-control is needed to \kcep it in the warming oven of 3 Their theories as . Ell When the demand increases for a bond of a certain denomination, the price A new issue of 5 per cent. bonds may be made which Will sell at $98, = on which basis they would yield 5.05 per cent. 6]] This will keep you in touch v."!th the Bond Market, which is unquestionably ' CORPQRATlON Li M l'i‘E D .‘- ’ ‘ l i .E. .GILLET’EI .COMPANY~I i ,1» 1M Ion§£> ; TORONTOyO'NT. L II l"l .3: 1 egg stiff, pour the syrup on in small hard at the timé. Beat until almost cool, then drop in little cakes on butter-ed plate. Kneaded Fudgeâ€"Two cups of .granulated sugar, one cup of milk pomwwvws ‘, or cream, two tablespoons of grat- ‘ed chocolate, butter the size of an egg, a 10 cent box of marshmallows. Put these in when fudge is boilinw. Test the ”fudge in a cup of cold water and when it forms a bully take off fire and beat hard until it is thick enough to take into your buttered hands and knead. After kneading put in a buttered dish and cut in squares. Crisp Popcorn.â€"To keep pop- corn crisp when already buttered, rang-e. -Pop a large quantity at a time, then put some aside in a crock and in two weeks it may be placed in a moderate oven and: heated, then buttered, when it be- comes more delicious than when first popped. Popcorn Ballsâ€"Pop corn and select carefully all the best part; make“ syrup with one pound of light brown sugar, oneâ€"half cup of water, one-half cup of vinegar. Let boil until it strings, pour over corn, stir well, let cool a little, dip hands in cold water, and make balls quickly. m...__q4.__...._.- lWORKS WITlIO UT FAITH Faith Came After the Works Had Laid the Foundation. “While a coffee drinker I was a sufferer from indigestion and En- tensely painful nervous headaches, from childhood. (Tea contains (af- feineâ€"the same drug fouad in cof- fee.) . “Seven years ago my health gave the exertion of walking, if only a few feet, made it necessary forms to lie down. My friend thought I was marked for consumptionâ€" weak, thin and pale. “I realized the danger I was in and tried faithfully to ’get relief from medicines, till, at last, after having employed all kinds of drugs, the doctor‘ acknowledged that he did not believe it was in his power to cure me. “While in this condition a friend induced me to quit coffee and try Postum, and I did so without the least hope that it would do me any good. I did not like it at first, but when it was-properly made I found Postum was a most delicious and refreshing beverage. I am especi- ally fond of it served at dinner ice cold, with cream. “In a month’s time I began to improve, and in a few weeks my in- digestion ceased to trouble me, and my headache stopped entirely. I am so perfectly well now that I do not look like the same person, and I have so gained in flesh that I am 15 pounds heavier than ever before. “This is what Postum has done for me. I still use it and shall al- ways dose.” Name given by Ca- nadian Postum Co, Windsor, On- ‘ tario. “There’s a reason.’ pained in the little book, Read to Wellville,” in pkgs. Ever read the above letter? A new one appears from time to time. They are genuine, true and full of airman-Interest. ’ and it is exâ€" "The ”incnnasnin vases ‘ Future demand for these bonds The original purchasers could then sell’ on our mailing'list and advise you when ke if you value security and a high rate U R l T l E S YONGE AND QUEEN STREETS TORONTO MONTREAL-cuEBEC-HALIEAx~oTTAWA ' LONDON “5ch I} l l i . l s I. i i f i l I out entirely. I grew so weak that a ,3; .,_ i f, , fl 1 fl. 1-4v.v‘