mos TWELVE

. THE GUARDIAN. CHARLOTTETOWN

APRIL 1. 1952

PUTTING PEP IN PASTURE

The fertility of your

soil is like a bank account.

You can't keep taking it out. without putting

some back in.

Today's demands for

more production and

greater yield at lower cost need the proper use and application of fertilizers to pastures. grain fields and all areas where produce is grown. These

fertilizers will help

replace in the soil those

minerals so essential to plant growth.

The manager of your branch of The Canadian Bank of Commerce represents a bank that has for many years taken a keen interest in promoting

better farming and

in looking after Canadian

farmers' banking needs. Why not pay him a visit?

anadian Bank

Get a free copy of PASTUREON THE PRODUCTION LINE from your nearest branch.

Off CO .

erce

CAPITOL Summer-side

TODAY 3:30 . 7:15 - 9:15

A The Battliii Bozos of

Company B

for

Bruiser!

0711 nit . LUVE"JOY- siniiit 0

-n-el.EWlS SEILER i--runa-al.--u-a-emu-net-u

a--.mu-pus.-u

REGENT T0lll6llT 7.15-9.15

"BEST ov

DE SICA'S

.- 1 . x ...

IOFEYEAR" .

-NATIONAL IOARD OF REVIEW

'1.

Another llelit

Continued from page 1

Current Account 30.ii40.055. or an estimated surplus of 3367.399.

capital expenditures will involve an outlay of 32,790 950. and capital receipts 3544.000. Total expenditures are estimated at 39,731,005. Total receipts st 37,851,454 or a gram def- icit of 31,879,551 less sinking fund provision of 3583275.

Ordinary Revenue

On ordinary account the esti- mated revenues for next year are 37.307.454.00. From the Federal Government the anticipated re- ceipts will be 34.373.334.00. And fiom Provincial sources 32.934,-

120.00.

The revenue from Ottawa is made up as follows: subsidy 3656.932.00. less Hillsboro Bridge Account 39,750.00. total 3647,l82.00. In lieu of certain tax fields and additional G.N.P. 33.258.068.00. For a total under the 1952 ax Rental Agreement of s3.9o5,25 .00. Old Age Assistance and Blind Pen- sions. Slll7.500.00. Health Grants. 3209.58-L00. Other assistance. 372,- 000.00. Total 34.373.234.00.

Under the Tax Rental Agree- ment of. 1952 the guaranteed mini- mum yearly payment to this Pro- vince will amount to 32.966.850.00 as compared to 1947 Agreement of 82.100.000.00. Under this agree- ment it is predicted that the amount. due to the 2 calator clause, based on the Gr Na- tional Product will amount to 33,- 905.250.00 or 3654.1l35.00 more than received during current fiscal year.

From provincial tsxaiion it is estimated that, at least, 33,934.- l20.00 will be collectd from the following sources:-

Taxes: Gasoline. 31.150.000.00: Amusements. 3l00,000.00: Succes- sion Duty Arrears 3l,000.00: Health Tax: Liquor 3200,000.00: Tobacco, Sll0,000.00; ' total 31.581.000.00.

Licenses. Permits. and Fees: IThis includes Motor Vehicle Li- censes at. 3350,000.00I. 350B,220.00.

Temperance Act, 3750.000.00. Fines and Penalties, 520,000.00. Rentals. and Sales of Sundry Commodities. 311,000.00.

Other Revenues and Refunds, 883,900.00. 1

Total, 32.934.120.111).

SMIPIY

The Supply proposed to be granted to Her Majesty involves expenditures on ordinary account of 36,940,055. This represents a decrease over the current year by an amount of 3159.172 due to the Federal Government taking over Old Age Pensions on January 1st of this year.

The proposed exponditiircs are as follows: 1952-53 - On Debt Charges including Sinking Fund, 31,290,461: Health and Welfare. 31,940,678; Education, 31,209,205; Administration of Justice. 3159,- 4353 Legislation, 397,080: Agricul- ture, 3257.545: Industry and Na- tural Resources. 5180.365: Public

policy of pavement assistance to the? smaller incorporated towns .ranting assistance on a 00-40 basis but with a limitation of 310.- 000 for any one such project. While this might properly be deem- ed an expenditure of a capital nature we propose to treat it as a current expense.

"You will realise that the pre- sentstion of a Budget involving as it does an expenditure of 30.- 940,o00 on ordinary account and providing for capital and other ex- traordinary expenditures of" near- ly 32,800,000 for a province tthe size of ours, and with a population of 99,429 people, carries with it a tremendous responsibility. I think it is a very generous grant of supply.

"The preparation of such a Bud- get was the cause of much con- cern. Even ten years ago, for the year ended December 31 1942, my predecessor then had only to deal with ordinary expenditure of 32,336,000, a total expenditure of less than 32,590,000 -- and a pub- lic debt of 39,302,000. Today the debt is almost double. the ordin- aiy expenses trebled and the Capital Expenditures increased tenfold. At the turn of the cen- tury provincial expenditures for the Province of Ontario were, ac- cording to the Budget Speech dc- livered by its Treasurer in 1950, slightly less than 34 millions - its population then 2,200,000 peo- le."

No New Taxes

By achieving a balanced Budget and the reasonably good surplus of 3367.399. Mr. Darby added. there will be no increase in taxa- tion rates and no new taxes im- posed. Our sinking Fund ap- propriation oi 3583.275 is high enough to adequately service our debt and is in accordance with the best financial practices.

"Last year I expressed some concern as to continuity of in- come which would enable us to carry on during the coming years. With the new Tax Rental Agree- ment we are guaranteed a mini- mum annual income from that source of 32,966,956 during the next five years. We are also gnar- anteed amounts based on the Gross National Production for the year preceding the year of pay- ment over that for the 1948. In that year the Gross Na- tional Production was 315,613,000.- 000 - for 1951 321.217.000.000 -

for every increase or decrease of one billion dollars above or below the 21 billion 217 million produc- tion. Thus. if the G.N.P. in 1952 should be 22 billions 217 millions then the following year we will be receiving approximately 34,090,000. "We were given the option oi a two year average compared with the base year or the one year average. Under the two year plan we would. for this year, be getting about 3300.000 less. but in the event oi a recession the drop

Works and Highways, 31,093,055; Refunds of Revenue. 3242.000; Oth- er Current Expenditures. 3147.170; General Government. 3323.061. total 36.940055.

The proposed disbursements pro- vide for an anticipated surplus on Ordinary Accounts of 3367.399.

These expenditures are deemed

ry for a proper mainten- ance oi the public services of tiie province. Other Current Expendi- tures consists of' Insurance Pre- miums on public buildings. 350,- 000: City of Charlottetown in lieu of Corporation Taxes. 320,000; Spe- cial Grants to municipalities on per capita basis. 354,770; Grants to incorporated villages on per capita basis. 32.400: Pavement Assistance to incorporated towns, 320,000; total. 3147.170.

Special Sinking Fund

f'At the mascot time." Mr. Darby said. ”we maintain fire insurance on our public buildings with pre- miums aggregating 330.000 animal- iv. The additional vote of 320.000 is intended as the initial payment into a special sinking fund ac- count. Our intention is to make this a permanent policy. contri- buting similar payments each year. investing the fund and ac- cumulated interesi. until it reaches a stage where the principal can reasonably be considered adequate to meet any losses that may oc- cur.

"As the fund increases, the pre- miums may be reduced snd a larger proportion oi the 350,000 paid into the fund. Eventually, both the premium payments and the fund contribution will cease. Thus, the original 330.000 per year will be eliminated as a charge against our current revenues. We think this is a sound long range policy and the interest on the in- vestments annually added to the

principal will automatically in- crease the amount available for loss under -this self insurance plan.

”Ii' this were not proposed our current surplus would have been 320,000 higher or 3357.599.

Municipal Grants

"The grant to, the City of Char- lottetown in lieu of Corporation Taxes will be increased from 313,. 000 to 320.000.

"The special per cspita grant to municipalities is increased from 31.50 to 32.00 per head and with the new population figures reveal- ed by the 1951 census will in- volve payments totalling 354,770 up 319,250 over last year.

"The villages also share in an

allowance of from 50 to 75 cents per capita.

"In this way our cities. towns and villages will share in the ad- ditional revenue.

CAMEO TIIEITIIE

KINIINOION

and 0:15 pm. TIAII. 0! I'll Loltlsolll rnca" in tech- nicolo , (brought back after sov-

ersl years) by Paramount. star- ring Fred llacilurrsy. ylvla sid- aey. Henry Fonda.

"we have also inawurated a ,

Monday - Tuesday - Wednesday 7:15 a

would be cushioned by the aver- age. However, we have faith in the future of Canada. in the vast expansion of its industrial activity and in its unlimited capacity for development. only the future can tell whether we were right or wrong. but that hazard we are prepared to take. Even with some leeway we should be able to meet the obligations incurred.

Old Age Pensions

"With llie Federal Government sssumlng full responsibility for Old Age Pensions, we have been re- lieved of our fourth part of the annual cost which had reached the sum of 31,265,000 or 3316.000. It was understood that we should then undertake payment of old Age Assistance in the 65-69 age group and we have done so. This is subject to a means test. but we think rightly so. This will in- volve an estimated expenditure of 5300.000 during the coming year. of which the Province assumes one-half the cost. Thus. while our aged are assured of relief from penury for a much extended group the cost to our Government will be sharply reduced."

1951 Accounts

The Public Accounts recently tabled for the fiscal year ended March 31st. 1951 show that of a total Ordinary Revenue of 37.064,- 613 we received from Ottawa through subsidies, tax rentals and other assistance grants, 34.038,- 075, while the balance of 38,028.- 539 was derived from provincial sources.

During that year our ordinary expenditures totalled 30,944,891. to produce the substantial surplus on ordinary Account of 3219.722.

in my Budget Address last March I forecast a surplus of 3140.- 284 but the net result 0! increased tax returns. less additional ex- penditures. raised that total by some 379,499.

Included in the above Expendi- ture was a sinking fund provision of 3400.995 so that apart from this we would have shown a surplus of 3100.717.

During the same year we made capital expenditure. of 32,456,354 resulting, however. in an increase of liabilities of 31,397,897 -- the difference being represented by the surplus on ordinary account and certain capital receipts.

The net debt of the Province as of March 31st. 1950 was 014,157,172 and at March 31. llilll. 315,554,509.

For Current Year

The Interim Statement of Re- venue and Expenditure for the fiscal year April 1st. 1951 to March am. 1352, ten months actual and two months orecast. show an ceipts of 3805.03! over the previ- ous year. For the year ended lurch list. 1031, as I have just mention- ed. the federal contribution was 34,033,075 - for the current year 34,105,000 - up 340.975.

tive estimate of term income here in 1951 was 324,403,000, while that of 1950 was 321106.000. showing a definite upward trend. .Quita a contrast with that of 1940 when the cash income from the sale of farm products was 35,426,000.

"In, 1948 the gross national pro- duct was 315 billions. 613 millions; in 1050 318 billions. 029 millions. and in 1951 321 billions, 217 millions. current” trends indicate that this is still mounting and will continue to expand with the tremendous industrial develop- ment. now taking place in Canada.

"Provincial receipts ha e been buoyant and the tabled s.i1ements show that for the current fiscal year ordinary revenues will reach a new high level of 37.- 369.676. ,

"Despite the expanding receipts, we kept as closely as possible to the plan of expenditures outlined in the budget of a. year ago. Ordiii- ary Exepnditures will total 37,- 099,227; and the net result a sur- plus on ordinary account of 3271.- 449. This surplus was derived af- ter making a Sinking Fund pro- vision of 3500.000. so that apart from this payment we would have had a surplus on Ordinary Ac- count of 3771.449.

Adhered To 1-lstima use

"it is obvious that this Govern- ment has adhered to its esti- mates. 'l'he estimated expenditure for the year was 30,906,902; the forecast 37,098,227 - s difference of 5191.335.

"Operation of Beach Grove ex- penditure was increased from 590,000 1.0 5115.000 - up 525,000. "Provincial Saiiatorium from 3160.000 10 3225.000 - 345,000, "Polio Clinic. 310.000. Falconwocd Hospital and Pro- vincial Infirmary maintenance from 3250.000 to 5290.000 - 540,- 000.

”Maintennnce of gravelled and clay roads from 3300.000 to 3360,- 000 - up 360.000.

Wsnow removal from 365.000 to 3150.000 - increase of 385.000. "On these few items the dif- icrciice. aniounlccl in 5265.000. so that on all foreseeable items for which provision had been made we spent less by an amount of 373,675. in other nords, we main- tained in strict system of budget-

yggr ary control in all dcpzirlmeiits, andh

it was only by cxcrcisiiig that con- trol vie were able. despite the ad- ditional expenditures above not-

increasing our payment for next ed. 10 Drodl-I09 the Subsmnllll

year from the minimum to 33,- SllFD1uS' 01 5371.449- 9o5,03o. ”During this yeai' capital and "In effect. mir income under the 9xl”0”ll"9"-V Cxlmldllures ""3 Agreemam, mu m”, (mm mm forecast. at 33.390.3i'l and capital figure by about 3185.000 per year l'"79lPl'5 5733-235 l93"'he" W"-ll A ' 569,000 interest. cir.. earned on

Sinking'Fund Investments.

"Total Expenditures Ordinary. Capital and other 510,557,544; total Revenues 37.921002 or Gross De- ilcit of 52,635,642.

"Deduct from this sinkiiii: 1-'und Provision 3500.000: and sinking Fund Earnings added 369,000 or a total of 3569.000: Net increase 111 Liabilities 32,066,642: our Net. Debt as of March 31. 1951 was 315,554.- 5169; forecast Not Debt March 31, 1052. . 17,621,211. . ”While the overall indebtedness of the Province was increased by 32,008,542 this is reflected in cup- ltal assets of Highway Construc- tion (exclusive of Fcderal-l"rovin- ciai Highway Projccisi. Bridges. Wharves and New Machinery to- talling 31,524,000.

”We also expended on Federal- Provincial Highway projects 3800.- 000 to which the Federal Govern- ment is contributing 3400.000. ”Wc acquired during the year a Crown Assets Bridge at a cost. of 3469.066. At. pi-csens day value of steel these bridge spans would be worth at least 3600.000 or 3700.000. "We also acquired. built or cli- larged fixed assets at a cost of 3187.200. A few of these assets are - Completion of New Gar- age. 3115.000: completipn of Health Centre 320,000; Vocational School 320,000; Sprinkler system - male division Fnlconwood Hospital 316.- 000: Pasteurizing Plant 35.000. and Sundry Assets 311,200; or a total on Fixed and Revenue pro- ducing Assets - total 32,590,266. In addition to the following im- provement expenditures sistsnce to Rural schools 300.000: Hospitals construction 3110.000 less Federal contribution 340.000: 370.- 000; Fishermcnls Loan Board Ad- vance irlr dragger construction 382,000; Farm Improvement Ma- chinery 326,000: Fisheries Assist- ance 3iB.500; total 3276.500; for-a grand total of 32,856,766 as against the debt increase of 82,066,042. All these expenditures incurred as they were for the purposes in- dicated. reveal the extent to which the expanding governmental. econ-

..A,-

the extensions of facilities; the acquisition of new machinery and equipment; and the construction of new works and buildings.

Ordinary Account

in the fiscal year ending March 31, 1052 our ordinary ., venues again will have rcsc a new high of 37,359,676, anliucressehol 3305.063 over the previous year. of this 37,369,076 we received from Ottawa in subsidies 3647.182: under Tax Rental Agreement - in lieu of certslnt taxes. 31.443.- ooa; additional based on gross na- tional product 3960.765, 32,402,933: total 39,051,016; contributions from Old Age and Blind Pensions, and other subvention grants 31,054,035 or a total federal contribution of 34.105050.

The balance I

0 being derived from

. 13100 Pamour

omlc and social services required pa

10595 Psc Pete

21450 Pan West 2000 Psramaq 7002 Psymaster 5500 Penn Cob

92300 Petrol 135 6225 Pick Crow 183 255 Placer . 44 1-2 5500 Pore Pen 4 2000 Prom Bord 211 1-2 380011 Preston 150

7500 Purdy Mics. 10200 Que Cop 3300 Que Lab 5200 Que Lab 5200 Que Man 10300 Qucenston 700 Quemont 7500 Qucsahe

1000 Ranwick 17 4700 Red Poplar 14 14600 Redpic 56 20200 Reef .. 32 4000 Regcourt fl 1000 Reno . 3 7-8 13000 Richficid no i 19400 Rlx Athab 140 2000 Roche R 500 Rowan 20 15250 Roxana 39 .1403 Rnyalitc iii 3-! 92300 Rupuinini 5 1-4 600 San Ant 255 500 Sand River 4

430 375

10200 Sapphire 16200 Scurry . 8300 secur Free 7-I75 Si-lburn

3200 Do Wis . 1110 900 Senator 17 500 Shawkey 9 3-4 6249 Sherritt 43" 200 Sigma 725

12165 sllanco 36

10300 Sil Mir 165

3010 siscoe till

6250 Sladen 4-'4

66575 sou th Bran

12100 snooner 46 2033 Stada 33 1500 Starriitt. 44

5125 Steep Rock 500 Sturgeon 1500 Sud Con R00 Sullivan 40700 Superior 10000 Surf Inlet 78110 F-vivanite

44200 Swcetgrass 115 1010 Teck 23R 6000 Thom Dd 13 2200 Tombill . 45

.100 Torbrit 185

16000 Tower 44 16343 Trans Emp 595 4200 Trans Res 50 14600 Trend 59 16000 Triad . 3l5

64700 11 Mining 39 1R7.'i0 U Asbes 470 5450 Un Keno 1-3 3-4

ii-15110 Un Load 05 62450 lln Oil 237 9066 Upp Can 170 4500 Van R01 45 1495 Ventures 1! 1000 Villbona 4 3'4

500 Vulcan 34 mo Waite 12 1-2

21 60 West Ashley 42 60 W Homostd 045 W Leasehold

Provincial sources as follows: from local taxes - income Tax Arrears. C . Amusement. suc- cession Dutles and Public Health Tax 31,738,259: from Permits. Ll- censes and Fees Temperance Act from Penalties and sundry items 3128.325; or a total from local taxation of 33,264,625.

Thus out of a total of 37,369,676 we received from the Federal Gov- ernment 34,105.0b0 and the bal- ance 33,264,626 from our own ople.

The main items of local revenue contributed 32,044,907 or 3213.- 017 more than that received from. the some sources in 1900-61. Motor Vehicle Licenses 3355.907 Gasoline Tax .. ....31,230.000 Amusement Tax . . 115.005 Liquor and Tobacco es 351. and Temperance Act ..... .. 050."! e

1051 III! Debt charges 31,040,401 31,117,100 Health and

Agriculture industry and

sisso wurici: 154 Toronto Stocks mo w-mm 0500 Wr Hsrg 200 --- 500 Yale Id .. 50 continued from page 11 20300 Van Canuck 93 3000 N gym u ,3 1.2 7500 Ysllorex 12 50,, N”, You, g 3,4 17115 Yk Bear 213 W mpmm, , ms: Yukeno , 129 3000 Nisto 12 1-2 CUB 200 Nor Acme 102 159 W101” 0 353 Numdn -,3 800 cdn Collier 4525 Norlartic 22 1-4 500 1331009319 745 Normetal m 4390 W30" 00" 5099 Nmwck ,, 1,2 Bales: 4,798,000 shares. 5900 NO 011 we BANKS 2200 Nor Inca 10 75 3"” "M001 2" 2000 mm, C", ,5 so Bank of Na .. an 1-2 4500 Na, En . as 250 Can Bank of Com 25 1000 Nanhlnnd 6 1,3 755 Imp Bank .. 31 9-4 2009 Nu," ; 25 Royal Bank .. .. 28 1-4 2200 05.53 20 INDUSTBIALS 925 ornrien 125 H00 CII1 BPBW . . 15000 on Sci 14 500 51919 A ' 9000 Okalta 415 370 51mP 3 i 2000 O-Leary 20 40 DO PPEG . 35 53100 Ont Pyrilcs . 236 '-:-'1"-T 9500 Opemiska 9 an 1000 Orensdn. A ultry Gard 333:0 Continued from page 2 500 no Coyle .. cis Baln our Island Naturalist

From the interim Report following summaries were cited: Aetusl to Forecast In March 21 March I!

Natural Resources 01.010 145.118

writes in his -book of ”Birds of Prince Edward island"-when tht first soft skies of March bow ten- erly over the broken Eields of snowy and the bated head-lands stand red and flaming above the crystal floor of the river. then. on the sm- oer verge of the southern heaven, the faint lines of the common Wild Goose are seen, and the deep-voic- ed honk 0! its flocking call sounds from a far. the advance hcrnld of approaching spring. After two or three weeks. the V-shaped lines of the flocks become quite common. as vast numbers press on to their breeding grounds in the North. When the ice breaks in the har- bars, the (locks come into the dim- pied blue spaces. noisy and restless. gathering into larger flocks. com- posed of several hundred individ- uals. as April advances: and !inal- ly. at its close, nearly all disappear. A letter has been received from a. kind friend who does not sign her name. and there are many, clippings of the beautiful flower show which was held in the Grand Central Palace New York. Next to attending these lovely shows it LI good to read about them, and to enjoy the description and photo- graphs of the gardens made of early and later blooming flowers.

Thousands of Roses and carna- tions were shown in arrangements for daily use. The Spring Garden winning a silver trophy was plent- ed with tulip borders with clumps of grape hyacinths and primrose, 2nd these two small flowers were also planted around an oval pool.

A summer garden of asters, pe- lunias and marigolds brought an- other gold medal for Burpee Com- pany. Thcse are flowers anyone can grow in iheir home gardens and when beautifully arranged will bring ii great deal of joy to me gardener.

GREAT RIVER The Fraser Riverlof British Col-

umbia, famous for its salmonl -llshlnll. was named after Simonl

Fraser who explored it in 1808.

T. Earle Ilioliey

Cllalflerld Accountant Canadian Bank of common. HIlIICln' Iummeralds. P. I. I.

PHONE snag .

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