—\.__@

l’

. terest an

Canadian

We oifer

Fraser Companies Guarantee these

Rrsricoucim Company, 1,;,,,.~ ited, ary of Fraser Companies, Limited. It owns 1,515 square miles of valuable ‘freehold and leasehold timber lands. ‘The Company's 5}f%-First Mortgage Bonds, due 1948, areinot only secured ‘by mortgage on its properties, but are also guaranteed as to principal, in.

Companies, Limited. The guarantee- i_ng company is one of the largest

grade sulphite papers and chemical ‘woodpulp. p.

and accrued interest, to yield 5.71%.‘ Descriptive circular will be supplied upon reques

Bonds

is a wholly-owned subsidi-

d sinking fund by Fraser

7H

'iArilcle 1) 3y Dan Moorman

The stock market is an lnstitu. ' m" l" °"l' Present day world with mange and weird customs and s, llnsuage su its own. Them w” a ill" "h!" most people avoided n, and most of those who did not “up; it wore a rather ilntive look, and re. fem‘! w ll 111 o vosue sort of way..A m“ w!“ "M9 1110119? thereby was considered more or 1m of g 33mm;

' manufacturers of high-

Restigouche 534's a"t“97%

[r9

p Royal

Securities Corporation Limited

Riley Building, Charlottetown Telephone 822

"m. ..

Gold rind Dross— -

Progreu and investment are

very definitely interrelated.

The rapid expansion cf the present era means an ever- a

increasing numbe of security ilotatlons. More than lever before the investor ne eds the counsel and advice

of an organisation capable of separating the Gold from

the Bros: -- the true investment from the s

tense.

The selection of the investments contained in our

February Offering List Judgment gained threu

perieace in appraising

I011 601i]?

is backed by the dL riminatinl gh many years of successful ex- security values. May we send

r. rastination la The Thief oi TlmQ"—-“NGVQI Put oi! Till Tomorrow What You Can do

To-Day

AFTER THE SNOW AND THE ICE COMES THE

SPRING TIME-

And then your Wardrobe and Drip- eriea needs the care of a thorough]! qualified Dry Cleaning and Tailoring Service. THE NEW METHOD CLEANERS operate under the GLOV- ER PROCESS, using the same tem- perature of heat in the cleansln oi your clothing and draperies that l! used in Hospitals for sterilizing pur-

PEERESFS SON SEEKS FORTUNE WITH FIRST NEW RATE PARTY

WINNIPEG, Feb. 2—-The first party of trained farm workers from the British Isles to cross to Canada. under the new £10 rate, arrived here today. The party was composed of between 20 and 30 young men, varying in ages from l7 i004 years. They will be placed with farmers throughout the three Prairie Provinces. John Gwynne-Evans, sop oi Lady Blanche Gwynne-Evans, London, a lad oi.’ l8, was one oi the party seeking lor- tunes in the new land. '

BRITAIN FINDS WAR CHEAT BY AIRPLANE

A prediction that the British peo- ple will play as great a port in the air as they have played upon the land and sea was made by 5h‘ 58m.- uel Hoare. secretary for all‘ when addressing the Royal Geographical Society of Scotland, in Edlnburg.

noses, thus ensuring to you perfectly sanitary workmanship. While at all‘ times our entire plant is at your dis- posal, we must in all honesty confess that with us it's “first come, first served."

We are eudeavcrlng-to give a ll- hour service and we want your c0- operatlon to make it a success. Mail; orders are dated from the day the!‘ are received in our factory. City 0rd- ers receive the same consideration.

You can send your orders now. li it ls your wish to have them delivered‘ In! time within a month or even liter, lt will bQIpeI-fectly ‘ I lo us. We have only onealm in view and that is to give you the utmost iu service. So far our customers feel sat- llfled we have done so. ASK THEM.

___0___._

New Method Gloaners

ultrasound-anus:

“e

In Iraq we had been able to re- duce the garrison-which in 1921 comprised thirty-three battalions, costing $100,000,000 a year-to five a. A. F. squadrons costins less ‘than $10,000,000 a Year.

So, too. in Aden a single R. A. F. squadron has driven out of the Prot- ectorate the Imam of Yemen- who for years had been enroachlng on our territory-at a cost of under $50. 000 and without a casualty’-

gmnln Qgpectg an economic ad- justment in its cotton lndusty.

.fiearameavediolttllliflim ecal wantaanl eanllllpli 5"‘ qwalltyethardanlllltilulrfl” panama-enema»- PM” animus-wo-

~W. D. GillisrbCo

Ihaarlll

——or a wizard. Many people thought it downright sinful to trade in stocks.

Well, other days-gum- Tmhy the" "9 V917 few people who ha" mi heard something about on‘ SWO! 111N180, 311d there is Q, vast number oi people who, at one time 01' another. have taken a crack at it. It's quite the respectable thing now, everybody“ doing lt-tue world and his wife and children.

There are. oi course, a lot oi pgg- ple who know what they are doing, Know the possibilities and count the risk, who know the right time to buy - and when to sell. It has taken themn long time, and it has pmbably cost them considerable money, to attain u Beneral knowledge of the stock mar- ket. But on the other hand stands an unlimited num' of people who have taken a chance with their mon- ey, who still do not know what its all about. Most of them think you fllllply hand the broker some money and tell him to buy mty shares of Rubberoid Ball Bearings and in aday or two you go around with a truck and collect. “Of course, you have to watch these brokers. If you don't keep your eye on them they will shove the market down and then phone you saying your margin is gone. They never say wiiere it's gone —Just gone. Mysterious people, these brokers. However, Jones tells me that s. friend of his who knows Smith says Smith made s. thousand last week in Rubberoid Ball Bearings, so why shouldn't I?"

How many of them, or rather how few, know whit makes the wheels go around; what makes the tickers, tick? What ls this stock exchange anyway? ~ The stock exchange is a hig complicated piece oi machinery that works according to laws oi its own makin . It is neither a limited com- pany, nor a corporation, nor a trust. It ls an association of private indi- vlduals who have agreed to do busi- ness among ‘hemselvw according to rules and regulations made by them-

Clrlfiflmrl-ltrnww nnaonrifi

isTocK MARKET ‘ PVhat Is It ?

iii-

selves. and from which there is al- lowed no deviation. These laws are hard and fast-they must be adher- ed to, they govern the business be- havior oi all members and the pen- alty ior any infraction is drastic. The laws that govern a, member broker in his dealings, withhls clients and with other brokers. are so bind- ll18-—Yet so simple, that no Federal or State Government could enforce theml

The association provides, among other things, a place and the neces- 5317 " .v l0 l?‘ i among th mselves, on‘ a strictly cash basislsnd ttlement in iull must be made according to fixed rules. There are no margin accounts here. The members appoint governors and com- mittees. whose business it is lo see that all rulesrare carried out. For example, a committee. fixes the scale oi commissions that a broker may charge his clients, so manycents per ShSIQ-BO more, no less. And other committees enforce other rules that govern the broker.’

Now things begin to get a bitmore complicated. The Stock exchange ls a market place, but in place of but- ter and eggs, securities are dealt in. All kinds oi securities, some good. some better, others not so good. rail- roads, banks, industries public utili- ties, motors, oils, rubbers, steels, cop- pers and what not.

Before a stock is listed for trading on “The Big Board" the oiilclals of the companies concerned have toan- swer to a lot oi questions to the list- ing committee oi the exchange. 1i the answers are satisfactory then the

ALA

process gives the stock a certain standing, or respectability. But the fact oi a stock not being listed is not proof that it is not all that it should be. There are many unlisted securi- ties that have equal financial stand- ing with the listed ones-but, unlist- ed stocks are another story.

The brokers do not ilx the prices. nor push them up, or bummer them down. The trading public, pools. trusts, etc, attend to that, and on the principal o! supply and demand. The stock exchange guarantees noth- ing. If a person wants to tradt.~—all right. If not-all right again. Blam- ing the stock exchange for losses suffered due to a decline in securi- ties purchased is wasted effort. The exchange is merely a meeting place to facilitate the buying and selling oi securities for the trading public.

istock Qrrgtations

HALIFAX. Feb. 2. — Quotations furnished by Johnston and Ward, Members Montreal Stock Exchange.

New York Exchange

At. Top. bison. Fe. Ry. 20s Am. Can Co. ‘... ... 11c Am. Car d: Fdy. Co. Am. Locomotive Co. ... Am. Smelt. d: Ref. Co. Am. Bosch Mag. Co. ... . An. Cop. Min. Co. ... . Con. Gas Co. (N. Y.) liud. Motor Car Co. . Inter. Paper Co. .. Inter. Petroleum .. Stan. Oil oi New Jersey n- Reading Co. ... .. 115

Southern Pacific . .. .. 137% Union Pacific Ry. ... ... 220

U. S. Incl. Alcohol Co. ... ... 152% Westinghouse Elec. ... ... 1611.6 United States Steel ... ... ... 1843i I

Montreal Stock Exchange

At. Ref. Co. ... ... ... ... .. 15% Mis. Kan. a» Tex. Ryf... . ... 55'!

Brompton ... .... ... Brazilian Traction ... .. . 76% Steel Com. oFCanada .‘.. 62

Abltibi Bhawinlgan ... ... ... 917i Can. Btmshp. 0cm. ... ... ... 49

Dominion Bridge ... ... ... .. 108

... ... ... ... .. 31

... ... ... ...19%

Asbestos Canadian Brewery ... .. . 28

Building Products ... . 44% Fraser and Co. ... ... .... 01%

Power Corporation . ... ... 119% Foreign Securities ... . . 30 Inter Utilities-A ... ...‘... . 40 Inter Utilities-B ... ... ... .. 10% British AmsricaOll ... ... ... 50% imperial Oil .. ... ... ... 00% Illee. Bond and Shares ... ... 244 BANKS

... SM ... til

Bankftoyal ... ... ... Bankllontrcal ....

lssli 128

' p coals m one no an en sec ss_ as

May ... ... ... .. 9996 July ... ... ... .. 101%

OATS I

March 52% May ... ... ... ... .. 531i July ... 50

WHEAT

May ... ... ... ... ... ... “12095 July ..- ... ... ... ... ... .. 131% 12o

Oct. ... ... ... ... ... ... ...

ninrvmusr. orvss sum T0 nun wan num-

A donor who wishes to remain anonymous has sent $25,000 as a voluntary coiltrllbution to the ex- chequer.

On behalf oi the government, Mr. Churchill desires to’ express his thanks for this generous slft- 1'18 proposes to hand it over to the nat- ional debt commissioners to be ap- plied for the cancellation o‘f war stock.

This gift differs from other rec- ent ones, as it is to be applied im- mediately.

In February an anonymous donor ~.

gave sosooooo in trust u» bifspplltd after accumulating over a long term o‘! years. In December n anony- mom; gilt oi’ $500,000 has en made to accumulate at 5 per cent. com- pound interst for 100 years. In July Lord Inchcape and his family pre- sented $2,500,000 to the nation in memory of the Hon. Eilsle McKlY- The, sum is to accumulate for titty years.

EGGS WITH BAKED POTATOES

Parboll as many DOWN! B8 m"! are persons to be served. After ten

| ro livom nu

_. I | nssr nos-rams crass. l

I rtleiulheureathlnsmansi-h" tbegcrmotmiluenaasnlnsiteioot- at once. with the nrst cnesseuseyour Oatarihoame Inhaler. Flu germs can't live in the atmosphere oi catar- rhaasac. You gctrellef at once. The coughandnosscoidstopquicklmaorc throatisreiievcrtmiecaingapitting andpalnoverthaeyaa comctoan end. liothlmquickcthancatarrho- aurefcrflrippatloldaqatarmm. ilursugandwintsriiis. Soldavsry-

hold. *0!) alter 70111’ lit-tie cold

when, complete outfit including In- hllrtlflslnallfldgfla

stock is listed in good faith, and .

w.

D. l. McLnon,

Canada.

in underwritings.

20% of the entire

MONTREAL

The board of directors is, with o and consists of-

so,ooo Shares

Canadian Investors

Corporation, Limited

NO-PAR vALUs enigma srocrr

. Transfer ‘Agent: National Tnist CompanyrLimiied CAPITALIIATION

-' Auslidlaed o Capital Stock, no-par value ....‘..............,,........ ...... .. 400,000 Shares

‘ln the event of subscriptions being received in areas off-bis amount, the right is reserved cc issue all or p222’? tlxécmaining authorized shares to net the (hr-pounce l2! a than and to be sold to iuvcwn at 3 . a e.

Rsgimir.‘ ‘flielioyal ‘fruit Company

r-‘l

BOARD OI DIRECTORS,

Dlrrrlov, McLeod, Young‘, Weir I Co., Limited, a Paving ll Supply Col, Limited, Canadian Dredge B Dock Co., Limited, P. T. Lcgare Co., Limited, A. J. Freiman, Limited, The Robert Mitchell Co., Limited. Lit-Cor. J. GORDON Warn, D.S.O., M.C., 0mm», McLeod, Yfliliig, Weir s: ce, Limited,

Photo Engravers k Elccrrorypers, Limited, Stanford‘; Limited.

* M. j. PlifroN, M.A., i Financial Economirl, blcLeod, Young, Weir k Co., Limited,

Formerly, Tnifl Adrilrr to the Llinister of Finance, Canada, and prior to that

Erovlowrir Adviser, Commission of Conservation, Canada, and

Economic Adviser, Natural Research Intelligmce Service,

/

13¢ “Motion. would entirely of executives of Moupd. Young, wdr a‘ C04‘ é

Y. 1!. Youlto, ~

ma“. udeikééiilafvél. s Co., mus, l-‘irc Insurance 60-; "

British Northwestern Canada Vinegars, Limited,

I. H. RA-rcmnru,

Dhrrlcr, McLeod, Young, Weir t 1b., Limited, p, Limited, Vkr-Pnrllnl, Pumberrtonc S oe Co., limited,

Hayes Wheels k Dlrlrfov, Hunt's Limited,

Photo Engravers t Uccrrorypm,

finalise: Co. limited.

B. P. TAYLOI, B.Sc.,

Divselov, McLeod, Young, Weir i Co., Limited,

w. Karma Fuses, no, n Fraser l: batty, larrinera-st-Law.

Organization: Canadian Investors Corporation, Limited, has been formed under the lavas. of the Province of Ontario as an investment corporation of the management type with broad powers to buy, sell; trade in, pledge and hold securities of any kind, to invest money at interest, , to participate in enterprises, syndicates and underwrit- ings, to engage in activities kindred and subservient thereto, and to exercise such other of its charter powers as its board of directors may from time to time determine. It is designed to obtain for the holders of its securities the benefits of experienced investment management and constant supervision of their funds, and to afiord parti- cipation in a diversification of selected securities and

Initial Capital: The corporation will e mmenc business with at least $2,000,000 in cash, representing the pro- ceeds of the sale of 80,000 shares of its capital stock to McLeod, Young, Weir 8L Co., Limited, at $25 per share. Of these 80,000 shares, 4,000 shares are being purchased

' for $100,000 cash by McLeod, Young, Weir 6L Co., Limited, for its own account. A: McLeod, Young, Weir &Co., Limited, will pay all expenses in connection with incorporation and organization, and the issue and dis- tribution of this stock, the above sum of $2,000,000 will bc net to the corporation. -

Management: The corporation has entered into a man- agement contract with McLeod, Young, Wei! d! Co., Limited, as manager, whereby the manager will receive no compensation unless the corporation's net profits in any year exceed 7% of the issued capital and surplus. In that event the manager is entitled to receive up to net profits, but in no case shall the ' compensation received by the manage reduce the net profits to an amount less than 7% of the issued capital and surplus. The requirement for the annual earning of the net profits of 7% shall be cumulative; that is, should the said 7% be not earned in any year, the de- ficiency is, for the purpose of determining the compensa- tion of the manager, to be deducted in computing the net profits of succeeding years.

Operating ProvisionszThe charter or the management contract contain provisions to the following effect:

J. The board of directors is empowered co set up

reasonable reserves. Z .

elects otherwise.

tel

cations required for directors.

tion as defined.

by a vote of the holders of

a outstanding stock should the fair value of the

net assets at the end of any

than’ $25 for each share outstanding. Unless terminated under provisions rnsde in that behalf, the contract shall continue until December 31st, 1939, and automatically thereafter for five-year periods-unless terminated by either party giving six months’ written notice to that efiect.

p The corporation may issue bonds, debentures or other

Iccurities in the discretion of the board of directors.

It is contemplated that the manager will deal freely

with the corporation, but in any

them McLeod, Young, Weir 6L Co., Limited, will accept the responsibility of the fairness of the transaction.

The corporation will not take

now owned by McLeod, Young, Weir &'Co., Limited. The auditors of the corporation will be Messrs. Price, Waterhousev d’. Co., and its counsel, Messrs. Fraser Bl

Beatty.

The foregoing is subject to the more complete statements con-

tained in the charter and the management

may be obtained from the undersigned upon requgqg,

Price: $26.50 Per Share

Zppiknlon will h cull In he roam to fir! tbl: rloci oa rllbn

tbs Ulfrl or tbs Ialhfrl action of a nrognlrrl rforl rxcbcwgr.

This stock is oflercd subject to allotment or prior sale and in all respects when, as and if issued 1nd accepted by u: subject ro approval of counsel. The right is reserved to reieet say and all subscriptions ia whole or in part, to allot lcu than the lrncunt applied for, and to close the subscription books at any time ‘ without notice.

McLcocLYoungfli/eir & Company, Liniited

Metropolitan Building, Toronto

OTTAWA HAMILTON

LONDON o

Tobahsnel so,ooo Shares.

All financial transactions shall during the cur- rency of the management contract be carried out through the manager unless the manager

Provision is made for continuity in the man- agement of the corporation through the qualifi-

The corporation may issue additional authorized shares from time to time for such consideration as may be fixed by the board of directors, pro- vidéd that the corporation shall receive not less than $25 per share in money or other conside 4-

Tlitmanagernent contract may be terminated

WINNIPEG ..

r" ,,

k .'

f‘

a majority of the fiscal year be less

transaction between

over any securities

. copies cf which

NEW~YORI

minutes take them out of the water rub the skins with fat prick them with a fork (to allow the steam to escape 11nd bake.

When they are done, split them open, scoop out the potato, mash till very fluffy with butter and hot milk put back into the potato skins. Make a depression in each, break an egg in it and put back in the oven till the white is set. Garnish with a dusting of red pepper and a spfl! or plrsley. ‘Ilell your i’ ily these are “Oeuis au Maitrc dT-Iotel."

BAKED EGGS

i -Prepare a tomato sauce by cook- ing with an oniomuntll they are quite thick. _ Rub through a sieve. Oornblne this with a slightly beaten egg and salt to taste. Butler a baklns dish poin- in u many unbeaten elm as there are-persons to serve. Pour

mslalasclshcl hotwaler and bakcuntllihewhlloottheeggis setmruntlltbetculsiocustard ls set. "

roicum sods

Poachedslaabaveanlmiortunste

m» this prepared tomato sauce. Put"

tendency to be 1188M at the Edges. To prevent this put 1B1’ 711188 in "l9 pan in which you cook them, and break each egg in a ring.

Have the water salted and boiling. Break in the eggs. Draw the pan 0o one side, so that the water is just under boiling” point and cook until the white is set. Mmr’ may be used instead of water. Serve with spinach or on wast.

WHAT CAN / Ormtlnued (it!!! page 4

tute the reaction time: the time lost in responding to emergency.

Ifthlstlmeishalfasecond, the driver, running at 40 miles an hour. is highly danger-o to himself and everybody else within 30 feet. 1i anything shows up suddenly 25 feet ln front oi him he will hit it. No escape is possible. for he cannot complete his thinkln: process in time to make the necemary motions. If the speed is 00 miles an hour the needed safety acne is corresponding- ly wider. Ii the driver's reaction time is lancer. the sons is wider still.