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-la. CAW InUPnI4lf IAAWl -s -THE CANADIM< STAITSMAI, -EOWMANVU5IZ, ONTARTO. Hello Homemakers I Christmas nuts on platter (not greased). may speil C-a n d y for tht f irst 4. Cool gradually; mark time in years. Because sugar is squares while cooling. no longer rationed, we will want Maple Cream ta try aur band again with confec- tions made at home. Tht children 3 cups light brown sugar, 1 tI are elated too, and want ta help corn syrup, 2/3 cup milk, 2 ti ,but tbey need a few instructions. butter, % cup nuts (chopjptd), Sa bere la what ta teIlItbem. tsp. vanilla. Use a twa-quart or three-quart 1. Put sugar, syrup, milk deep pan. Any kind af pan can butter into a saucepan; heat g. be used, but tht candy will not ly, stirring until sugar is dissoli stick as readily in a heavy metal 2. Boil without stirring ta pan. bail stage. Since candy thermometers may not be availabie, tht way ta necog- nize tht different stages is tht coid water test. Place a few draps ai syrup into veny cold water. When the syrup is cooled by tht water, it thickens and caa be formed into a soit, or finm, or bard bail. 'Use a emali amaunt af corn synup ta prevent grainy caady. Or substitute for carna syrup, 1/ tsp. Cream ai tartan, or %/2tep. lemon juice ta 2 cups sugar. Peanut Brittle 2 cups sugar, 3 cupe peanuts. 1. Shell peanuts; remove skia with damp cloth. 2. Melt sugar in frying pan; stir canstantiy and do not aiiaw ta darken. 3. When melted, pour aven tbsp. and tnt- lved. soit 3. Remove from heat; cool graduaiiy. 4. Beat until creamy. Add nuts and vanilla; pour inta buttered pan. Mark inta squares before it hardens. Turkish Dçlight 2 envelopes gelatine, 1/2 cup coic water, 4 cups sugar, 1 lemon gnat- ed, rind and juice, 1 orange grated, ind and juice. 1. Soak gelatine in cold water. 2. Put sugar and boiling water in pan and stir until dissolved. 3. Bail 20 minutes. Pour syn- up on gelatine. 4. Add inde and juice. 5. Rinse dlean cake tin in cold vw-ter. 6. Pot-r mixture in pan and let OP«ni.Cpoa la the ,.gisteu.d frade mark ln Canada of the Pupsi-Cela Company of Canada timied I r stand overnight. Cut ini squares ,and roil in icing sugar. Choeolate Fudte 1 cup white sugar, 1 cup brawn sugar, Y4 cup corn syrup, i1/2 cup sweet milc, Y4 cup melted butter, V4 cup cocoa. Bail ingredients for 10 minutes, then begin ta test for soft-bal stage. Add 1 tsp. vanilla. Beat until creamy. Pour in buttered pan. Mark. The Suggestion Bax Mrs. G. M. says: When you make an old-fashioned boiled suet pudding, it is wise ta use a heavy cotton cloth, and always scald it, wring out and dredge with flour before the batter is putSnto it. Mrs. T. E. says: Let steamed pudding cool thoroughly, uncov- ered, before storing in a cool place. For serving, caver, re-steam about 1 hour. Mrs. -S. W. suggests: Grape juice sauce - Blend 1% tbsps. cornstarch with 2 tbsps. cold wa- ter and stir into 1% cups hot grape juice. Add 1/3 cup sugar and 1 tsp. lemon juice. Cook about 10 minutes. Mrs. F. J. says: When you cut vegetables in even-sized pieces the food tastes better; cut in small sections tht food cooks more quickly and this method saves el- ectricity. Anne Allan invites you ta write tu, ber in care of Tht Canadian Statesman. Send in your sugges.- tions on homemaking problems and watch this column for replies. ACCIDENTS HIGRER ON d PRAIRIE FARMS ýtA carm-parison ai the perceatage - distribution ai farm accidents and farm population shows that not oniy do tht greateet aumben ai accidents occur in the Prairie Provinces, ' but the relative ire- quency ai accidente is aiea great- est thene, according ta a sunvey oi non-fatal accidente on Canadian farme during tht 12 moaths ended June 1, 1947, made by tht Domin- ion Bureau ai Statistie. Tht Province ai Quebec is reiativeiy tht safest province. Tht Prairies, with about one-third ai Canada's iarming population, had 60 per cent ai the accidents. This le no doubt accaunteçl for by tht great- ~' echanization ai agriculture in 4"west, and tht added nisk in- v.1ved in working with tractons and complex agicultural machin- ery. MOVINO WEST M. Rawiinson LlmIted réauIauIr make up and ahip Housebold Purnitur.. Cou- Coidâted P001 CAMi to Manitoba, Smaktch- ewan. Aberta. Rritieh Columibia and to California. Write. wl. orpboneforr.duced freight races. Eatabliibed 1885. 610 Yonge St., Taont.. K.lngsdale 5125 MOVINO, IACKINOS IHippiIail sudiomAdi - ~ ~ MERRY CHRISTMAS WILL HAVE A DEEPER MEANING If your greefing carnies a message of Health You Can Help Fighi T.B. Wiih These Cheery Seals Use Christmas Seals on al Holidaï Mafl Eveny famlby in Bo-wmanville and district has recelved theîn 1947 T.B. Christmas Seals. These seaIe are wonth ont dollar a sheet but thîs amount la not lntended t sett the contributions, any git, large on smalî wlbll be appneclated. HeIp carry on tht good wonk abneady started in tht light againat T.B. wlth your previous donations. If you baven't necelved your seals contact any member of the Lions Club and they ivill have themn sent ta you. Contribubtions are deductibbe for Incarne tax purposes. CHEQUES SHOULD BE MADE PAYABLE TO MR. R. J. DILLING, TREASURES sponsored by -BGWNANVILLE LIONS CLUB wiih the assistance of NEWCASTLE LIONS CLUBS BULLETINS FROM BI'RDLAND 'WMIFRED E. WTSOI A BEAUTIFUL SCAVENGER Beautiful and graceful as well as extremely agile on tht wîng, Herrng GuIls are amang aur ab- lest fliers. If practice makes per- fect, then this is nat ta, be won- dered at, because most oi their time le speat la tht air. Great numbers and wide distribution make them tht best known ofi ah tht maay kinds of Gulîs. Although thousands nest an the Atlantic caast aad small îslands just off short, many breed an aur small inland lakes. Towards tht end ai August they disperse; but before leaving for tht south they frequently travel around consider- ably. Tht young ones ai tht prev- iaus summer are noted wander- ens. Tht majority oi Herring Gulîs go by tht end af December and do siat return ta us until some tîme, in March. Neventheless, it is quite possible ta ste ont pench- ing on a piece ai floating ice in mid-winter, for ail they need isi some open water. Herring Gulîs are bora covered ,.ith down, and in a day or so can run and swim. By autuma they have about attaiaed their full size, which varies in individuals, but is in the neighborhood ai 24 inches. Ar this season they are dark birds, with bis mostly dark, and gener- ally wîth brownish feet. It is three yeans before they reach aduit plumage, which is al- most white, with pearly grey màn- tîts and black wing tips. Their bis are then yeliow with a red spot, the feet flesh color, the. tyt- lids and gapes yeiiow or punplish pink. But in the faîl the heads and necks afithese aduit birds are fiecked with ashy brown. This \species is at al times dif- ficuit ta distinguish from other Guils, but especially when in in- termediate plumage. Individuals may be found wearing a mixture in varying quantities ai tht dark and the iight feathers, and with their bis also graduaily chang- ing. Arouad 1910 tht Herring Gulis neared extinction an account of plumage bunters. Since laws agaiast thein destruction have came in they bave increased en- ormousiy. These beautiful scav- engers shouid be protected. If anything edibie is thrown from aur ocean liners the accampany- ing Gulls ecramble for it. Thein familial "cack-cack-cack" is heard near fishing stations as they await tht refuse. They aiso eat smal fish, and have discovertdi how ta clevenly open sheil fish. These they carry into the air and drap on ta rocks in order ta break the shells. Motoriste Advised to Ease up inl Freeze-up These are dangenaus days for drivers, says a bulletin irom the saiety committet ai tht Ontario Department ai Highways. Roads made siippeny by snow and sitet, îecs visabiiity, eariy darkness, large shopping crowds-ail add ui ta tht need for more attentiveness by drivers. A simple skid, a min- or hazard in dlean dry weather, might end in a fatal accident when streets are wtt and crowded Il says. Driving conditions on tht open highways aiea become more haz- ardous in these late autuma daye. cantinues tht bulletin. Emergen- cy stopping distances increase on slippeny roads, fain warning thal reduced speeds are needed ta off- set this condition. Vision obscur- ed by snaw, fog on eleet calis for ftiatorists ta proceed cautiousiy. Wise drivers give special atten- tion these days ta thte aiety fac- tors ai their vehicles.. Good brak- e are a 'must' with them, as are correct headiights, smooth work- ing windshield wipers and prop- eniy adjusted steening gear. Sait- ty-minded motorists keep a cloth handy for clearing their wind- ehitide,. side and rean windows. Cold, wtt weathen aiea requires tht motoriet ta keep a wany tyt on tht other feiiaw. Tht good driver wiil bear in mind that oth- ens may ri,Ôt have given tht came attention ta their brakes, wind- shieid, iights, etc. and that he muet be pn*epaned ta act quickly ta avoid mishap anising from their negligence. CoUd Sore Thr@at Swaflaw ane Paradai tablet. Gargle with two tablets diseolved in water. GO to bed and reet and sleep. $wun the pains and aches disappear and you may avoid a disagredable icold. Paradalisl a faut relief for hesd- aches neuralgia, toathache, rheuma- tic au o amatie pains. It is pleasant to mse and leaves na disagreable after effects. Paradai does not disppaint. P a 9 A *1 Red Cross Corps Girl Gives a Piclure of Cofiâdiions in Britain Ont af tht last Canadian'Red Cross Corpt girls ta return from overseas. Miss Ruth Hamilton vis- ited national headquarttrs of the Society in Toronto brlnging firat- hand word af the present condi- tions in Britain and tht distribu- tion af Canadian Red Cross relief supplies there. "Imagine, for example, that you came ta tht table htre mn Canada, very hungry, and half -way thraugh the meal that someane whisks your plate away, then yau can understand, to same extent what it is ta live in Britain today,"1 Miss Hamilton explained. ,"'Yau don't starve. You just neyer jet enaugh ta tat." "You don't get enough ta wear, tither," she added, displaying runs in ber own stockings. «'Although I've been back in Canada almost three weeks, I keep fargetting that ail I have ta do is go inta a shop and buy what I want.. In England a pair af full-fashioned stockings would cost three prtc- ious coupons. Wlth only 20 cou- pons ta caver you fromn the skia out, it makes you stop and thiak."' Since .September of this year she has been working with Col. R. W. Frost, Overseas CommniÉ- sioner of the Society, in charge of clothing distribution ta haspitals, homes, institutions for the aged, Canadian immigrants, mercharit seamen, flood victims and assoc- iations for servicemen and womea and their families, ia London. "We tried ta keep in close per- sonal contact with the recipients of Red Cross relief," MissHamil- ton said. "I wish I cauld tell. you adequately how much Canadian gifts are appreciated. "I used to visit the matrons of small hospitals and children's homes whenever I could ta ask what supplies would be most wel- came. Some of them simply s at down and cried when they beard we were actually offering belp., Their stores had not been replen- ished for as long as seven ta niné years." Women in Canada wJio .worked hard in war years ta make articles af clothing for soldiers, sailors and airmen, will be glad ta know that not ont of. their stitçhes was ever in vain. Surplus stock af items such as minesweepcrs' mitts have been turncd over ta coastal lifeguards and seamen; wool from wristlet was unravelled, washed, skeined and re-knitted into children's gar- ments; amputation covers were used for opération stockings and converted into baby sweaters. Even the felt aviation beits, or!- ginally designed as abdominal supports, were re-made into bed- room slippers for hospital use. "But of ail the articles fashion-, ed by Canadian wamen, nothiing bas ever provtd more popular in Great Britain than tht Caaadiaft patch-work quilt!" Miss Hamilton laughed. "Canadian quilts spread a pattern the length and breadth af England and many European countries, too. We can neyer-bave too many af them. They're won- derful!" She chose layettes as rating sec- ond in popularity because af tht delight each baby garmeat briags ta tht austere existance af new mathers overseas, and shawls as third because af tht comfort they afford elderly people who feel the fuel shartage particularly. Night- wear for ail ages is amang ather most welcome gifts. Miss Hamilton went overseas in 1945. Ont af ber tasks was as Red Cross Escort Officer, accom- panying Bel ium war brides on the first leg of their jaurney ta Canada. She made thetrtip framn Brussels ta London on an average af once a week for six months. il Dietary Importance of Milk Tht importance af milk in tht human diet cannot be overlooked, according ta Dr. Gardon Bates, General Director af tht. Health eLeague ai Canada. "Miik is tht wanid's fineet all- round faod," Dr. Bates said. "Ont quart contains ail tht calcium and hniboilavin needed by apersan.ta one day, hait af tht Vitamin A, hait ai tht thiamin, mare than shait tht protien requirement, and eane-third ai tht nteded-calories. No other food is s0 compitte." Ht added, however, that milk, ein its raw state, is a "Jekyli and -Hyde." Whiie it is a splendid. all- tround food it is, at tht same time, ca culture medium for disease r germe. Ht nemarked that Dr.- John R. Fraser, while Dean ai Medicine at MeGili University, Mantreal, had stated that "'unsate milk bas been responsible ia the past for mont death - and ilîness than ail other foode grouped together."- Recent statistics, Dr. Bates said, nhow there were 26 aftlcially re- ported miik-borne epidemics--30 cases on ýmore each-ia Canada'in tht ]ast 25 years. These. out- breaks ant caused mort than 700 deaths. "By unsafe milk, Dr. Fraser meant unpaeteurized mîilk," he said. "Public heaith officiais and ihealth educationiste are in agree- *ment that tht oniy way ta be sure. a milk suppli l ene iste t- pas- teurize it. Pasteurization isaa 1iýrting procees which, if propenl y cxidout, renders miIk sait for human consumption withaut al- tening any ai its essential Values or its taste. "Ia view oi tht facts coacenning tht valut ai pasteunization prece- dure, it is amaziag that it ta net universaliy adopted. Tht Healtb 1League will continue ta agitate ia Canada for adoption of camnpul- sony pasteunization legislatian as long as ont province je witliout it. Ontario, at present, is tht. only province with such a iaw." Betweea tht Atlantic and, the Pacifie, Canadian National Rail- ways trains pass througb 64 tun- ne and stop ta pick up paisen- ners and freight at more than 5,-. 000 stations, INTERNATIONAL EVENTS AFFECT CANADA A. E. Aricott, President, The Canadian Bank of Commeroe, says: This Country Could Aid Britain and Europe INCREASE 0F $10890009000 IN LOANS 0F BANK Reported by S. M. Wedd - ,Vice Prusident and General Manager At the Annual Meeting of the Shareholdera of The Canadlan Banik of Commerce, held in the Head'Oficeai the Bankik n the CIty af Torgnto, December 9th,1 Mr. Allan E. Arscott, C.B.E., Presi- deftt, and Mr, Stanley M. Wedd, Vice-Preident and General Man- agr rsented the Annual State- m tofthe Baiks opérations in theýpast- yeax, together with a ne-1 view of business conditions. Mn. Arecottas address ta the meeting follows, In part: The records ai production in aur lnduatrial and manuiacturing plants have been excellent resulting in substantially larger pay-rolls ta em- playées and eettîng new hîgh marks iii.the valume and variety ai goode placed a n domestic and foreign markets.. Our satisfaction with these r'ýsults. je tempered in came degret, however, by crop yields in manyi sections ai tht country lower than1 thèse ai last year and by a decline ini theautput af came mineraIs ta even lese than the requirements ai essential« needs. Manufacturing aild industrial units bave continutd ta expand, but many capital inveetment programmes plan- ned during tht. past two yearc, bath for new buildings and replacements ai mathinery,- are nat yet compltted ewing ta delays occasioned by mate- niaI ahortages and tht lack ai adéquate skilled labour. With tht new regula- tigns recently announced for curtail- ing importa ai machinery, cquipment and otr mtrials which are obtain- able, anly with payment ai United States dollars, these programmes for expainsiîr will doubtlese be further Notwithst anding al tht difficulties which have been"and wbich remain ta be. avertaken in domestie trade, tht" dollar volume ai sales generally bas been maintained at a high level. Tbere are signe, however, ai mare sélective buying by tht public, and on mort extended termis ai payment. * FOREIGN TRADE Foreign trade increased ta record prprins. Tht combined figures aiepraand imports for the first ten months ai this ear exceeded $4. billion; movemnents ai Canadian pro- ducts abroad-in dollar terme-aver- balancing Canada'a purchases f ram other cauntries. Tht dollar volume of* this.*year's exporte is practically double tatoa pre-war time. While this in itseli is a natable development, it muet be remembered that in part at lesst it bas been ai an unusual cli.racýttr since a aizable portion .o'ur exporta bas been financed internally. Canada's trade, in manuiactured gooda andin agricultural and other basic products, depende for activity on tht prosptrity ai other nations. Befare the seccfnd world war, Canada raniked high in trading operations amaong aIl the natiana ofithe world- fourth in exporta and eighth in importa-a cammendable position compared with other world-trading countries. Uniortunately we are faced now with tht fact that, as a resuIt ai tht war, many ai aur important. cuetamere are unable ta buy from us because tht>' lack acceptable meana ai payment or are aa impoverished that they cannot produce goads for exp art ta Canada and eleewbere ta balance their im- porte. This aIl means, as 1 have mentioned above, that we have had ta finance internally a portion ai these exporta aurselvea or go without a market for them. Tht destruction which toak place ia Europe during tht w-ar years bas beit the peoples ai these countries temporarily in a condition where they cannot achieve complete recov- ery without assistance from tht countrie abroad that are able ta help. 0f primary importance je tht effective restoratia 'n ai tht production of foadstuffa, je., bread grain and other cereals, ta assiet these people ta regain the physical §tamina neces- aary ta manufacture and produce at leaet on pre-war levels. The second essential je the restoration ai manuiacturing, and ta accomplish this these cauntries shouîd be equip- ped with adequate maclîinery ta replace that which was destroycd by tht, war. Until they are producing flot onîy for thuir own neede but also an exportable surplus, temporary assistance will -have ta be given themi, whether by boans or by outright gifte. MARSHALL PLAN There bas- been proposed, but ca far only in broad autîint, a plan by Mr. Marshall, the Secretary ai State for tht United States, which envis- ages rendening aid ta the wartarn cauntries an a basis which wiIl allow thern ta re-eatablish their industries anid their agricultural production. Sixteen European nations partici- pated in a submission a their requirements under this proposaI ta tht United States and other American ceuntries. W~hile nothing yet bas been definitely settîed, it je encour- aging that determined efforts are now being made ta help these counitries ta get a fref;h start. Canada alread.y bas pravided sub- stantial aid, and wlîilt it bas nat yet been. indicated wbat part we shal play in tht ao-called Marshall Plan, we are in a position ta participate ta a greater or lesser degret dependîng ta snme extent on aur balance ai trade with tht United States. Con- eidering aur resources and population in camparisan with others, wt haveg given great assistance in an endeavour1 ta reatare an effective econamy ta those cauntries which were severelyi affected by tht war. Owing ta tht accelerated drain an aur reserve afi United States dollars, hawever, wei were faced with tht necessity afi devising some means ta supprtt temporarily, and ultimately adjuet,l aur unfavourable balances ai trade.t In this connection it je reassuring ta note that in the proposaIs now undert consideration in the United States fori giving aid ta the Eurapean cauntries, it je indicated that supplies may be purchased in tht other countries ai tht Amnerican continents, which shouid heip aur trade position. In this spirit it is suggested that1 attention be directed ta aur resourcesi and production facilities with a view ta determining tht maximum quanti- ties that cao be allocated abroad. Time is an important factor and for a while it may be necessary ta can- serve in home consuimptian, if Canada is ta share ta the extent that cauld be reasonably expected in this present world crisis. PRICES Lower crop yields and the with- drawal ai subAidy payments ta whicb I have reierred, have collectively contributed to the rise in prîcea. Upward adjustments in wages ta compensate for higher cast ai living are also a major influence on the coat of production and distribution with resultant effecte on price levels. In the main these are tht chicf elementa that combine ta accentuate tht up- ward movement ai pricea. Tht extent ta which they may rise depends on how soon production catches up with demand or consumer buying tapers off as a resuit oi high prices. Bearing in mind present high prices it is more important than ever that business administration should exer- cisc constant and close examination ai inventories and accounts receiv- able. Also the relation ai sales volume ta unit production should be carefully watched; tht turnover oi goodesbould be examined in termes of unit as wcll as dollar volume because under existing conditions the sales volume may be up substantially in comparison ta tht previaus year and thus appear ta be satisiactory but unless considered in relation ta unit volume tht point at which busi- ness turns irom a profit inta a loss ie apt ta be obscured. It je important that adequate working capital should be maintained if higb prices on tht ont hand con- tinue and an tht other hand ta serve as a cushion against tht possi- bility ai lasses which we have seen occur at other times when "out-of- balance" positions have bad ta be corrected. 2annv should be carefully ana- lzed wt tht view ta ascertaining the extent ai non-recurring factors whicb have tendcd ta swell tht total. Under present abnormal operating conditions a misconception may develop as ta the proportion ai actual trading profit that gots ta make up tht aggregate carnings. The changes that have taken place in tht past year in Canada invite ane further comment. It je a wtll-known iact that, in tht course ai production, înachinery and equipment muet be rcpbaced if output je ta be maintained at a high econornic level. If many ai the price increases wktneseed ta-day have an element ai permanency about them then programmes for repair, maintenance and replacement should be based on existing rather than an pre-war patterns. CULTIVATE TRADE Whilt I have said that we must be prcpa red ta assiet in every way pasible in rehabilitation ai Europe, including Great Britain, cons ideration sbould be given alsa ta cultivating and developing in thesetcauntries and esetwhere new markets while w-e are still engaged in giving direct assistance ta sanie ai them. Our patential market je great. WVhile cxpîoring tht field for iurther marktts, we muet keep close watch on tht prices ai what we have ta selI ta ensure that we can campete an a reasonable footing. Our internaI policie on wage and material caste muet lie gcared not only ta domestic conditions but aIea in recognition ai tht fact tîîat we will be in keen campetition with other countries bath as regards price and quality. In tht course ai my remarks I have autlincd what appears ta be tht effcct ai conditions, as we set them ta-day, an aur trade and commerce. As ta the long range view, tht progrees made at tht Geneva Con- ference ta set a pattern for freer trade was substantially beyond most expectationa. There emerged a series af agreements among tht attending nations covering a wide range of tariff changes which, if carried out ta tht full intent, will bring about great advancemc-nt ini world trade, and shoulcl benefit Canada materially. It je recognize-d, however, that coun- tries Ivith currently uiîfavourable trade positions may have ta emplay import regulations and quotas until this situatiau isj corîccted, but with tht working out ai the long range plans we may look for a resumptian ai freer interchange ai goods. Although we have many difficult and perplexing problems ta be solved, TEACHERS' SALARIES -tht Dominion Bureau of Statistics in a survey ai 1946 salaries. Aven- (Oshawa Times-Gazette) age salaries in tht eight provinces Tht days ai the red schooihouse rase from $854 in 1939 ta $1,308 wben teachens received as law as ia 1946. City teachers were stili $300 a year are reçalled wvith an1 getting better pay than rural tea- announcemeat from Ottawa that ch ers, though not as much mort aven-cil increases averaging 454 as la 1939. Average salany in 1939 a yiear ia salaries ai came 50000 was $607 for rural teachers and eachers ia publicly - controiled1ý1.6]3 in tht city, whiîe in 1946 schools ia eight provinces-Que-, rural trarlhers averaged $1,181 as bec . excepted-were. reported by compared with $1,926 paîd 1* tes- when we conaider the over-al Mate ral welI-being throughout the Doiinion ail must aLm that we ame indeed fortunate. The heartu of the people i this highly favoured Continent asauredly wilI go out ini full-aym- r'iyta the people cf Britalu, enduring measurea af severe austerlty, and ta the tragic pliqht aof the fans- ished nations ai Continental Europe, facinf again the nigours af winter witbi whol y inadéquate resources of'foad, fuel and clothing, and living'-i constant fear cf revolutianaîy vié. lence and civil war. It i. disappointing that'the neces- sity has arisen for the reiàipositlon of restrictive measurea which affeet the course af business anid. prsoàal affaira, but we must remembe that there je an unusual situation hi thée world to-day froin which we cènnqt stand aloof. The conimon atsesaiè the citizens of Canada, 1 arn sure, will prevail and they will discipline themstîves ta accept the restraints wbich are necessary ta help rebuild the shattered fabrîc of Europe.4n civilization, upon which the main- tenance af world peaoe iteelf so manifestly dependa. GENERAL MANAGER ADDRESSES MEETING The Annual Statemient af the'Baik which is before you indicates sanie important changes in comparjao$i with the figures ai twelve months a"o In the firat place tht Bank's holdings oi the securities af, the Dominion Government maturhiig within two years have been reductd by over $ 197,000,000. This is Iar èly accounted for by the Dajninioù.Gov- ernment having paid off their specidl bank borrowings represented by what were called certificates af deposit. As against this movement bank loans and investments in other thàn Do- minion Government securities have shown a substantia! increase. LOANS UP $108,000,0W» In the past year tht total, af our loans bas încreased by $108,800,000, af wbich $90,000,000 occurred in our commercial loans in Canada. This is a reflection af the increased activity in business generally. Dominion and Provincial Govern- menlt deposits have been reduced,,by nearly '$40,000,000. Depasits- not bearing interest are down nomea $5 7,800,000, which indicates ,thr quickening ai tht employment of current funds in largcr inventory postion and plant and .géneral building opérations. Interest-bearing deposits, which are mostly personal Savings accounts, are again quite sharply up and now total $770,000,000, an *încrea* -of $73,000,000 in the twelve montha.- The total ai Letters ai Credit onue t4tanding shows a substantial increase, cising from .$34,000,000 a year ago ta $46,200,000 at the present timn. This mavement is an indication af continued trading activity in the export and import field. WIDE INTEREST IN CANADA It was quite evident ta senior tepresentatives ai tht -Bank who have visited many countries du in the past twa years that there is a cantinued widespread interest -'ini Canada outside ai aur own bordera. 'rhese visita were made for tht pqr- pose af obtaining first-hand know- ledgeoaipost-war conditions abroad and ta re-establish banldng and trade connections wbich had been inter- rupted by the war. I amn sure that Canada as well as tht Bank han benefited by tht renewed and new contacts which have been made by aur representatives i variaus parts ai tht world. In this connection 1 woulaIse mention the Bank's Monthly Com- mercial Letter. The major purpose of this publication, firat isaued in 1915, is ta malte available information on Canadian affaira wbich the Bank colI- lecta f rom its branches across Canada, toget ber with data from ather authori- tative sources. Judging froni tht many requests which we receive froni Government agencies and business and professiana I peaple for copies ai aur Manthly Letter, at la illing a very useful purpose. This year the earninga available for dividends amaunted ta *3,201,009 wbich is $350,000 more than last year. Dividends paid out and provided for, and the extra distribution recently. authorized, amaunit in ail ta. TRIBUTE TO STAFF The staff ai tht Bank nýw numbena juet aver 7,200, about equally divide as ta men and women. This Urge group la tht working force upon mwbom we depend for thet'Opera- tian ai tht Bank in tht day-to- day transactions. I cannot exprçu 'ao atrongly ur commendation .« the high quality ai their services,&,d co-operatian. . At tiispoint I ahould 1k. ta niche special refererice ta tht Pension Fundf ai the Bank in relation ta the staff. Tht Fund waa utarted diginally came 55 Year. ago when the staffa-'i the entire Bank tuait ebeutan t1je staff ai one af aur larger branches now. It in intereetin ta know thgt for thia long peri4 the staff of titis Bank have. enjoyed security tbrough tht Pension F und, which s maintained by contributions by the staff theniseives augmented by gener.. ous assistance froni the Bank. chers ini tht cititi, We itel sure that rateparers in1 most places, despite mount ng tait bunrdeas, wauid net wlsh the, ne- turn oi tht days ai laW.paid t«_- chers, realizing as they do the im- portant part they are called uport ta, play-in uchool and commijnlty. lufe,-and in tht meuldlng oi yauth- fui characters, and ao because af tht steadily mounting cost af liv- ing. V I I TRUMWAY, DEU. HUI, 1947 ffld r