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The Bank of Nova Scotia The Canadian Bank of Commerce The Royal Bank of Canada Imperial Bank of Canada The Bank of Toronto The Dominion Bank Hanson Bros. Incorporated W. C. Pitfield & Company Dyment, Anderson & Company Cochran, Murray & Co. Limited C. H. Burgess Co. Limited Flemming, Denton & Co. Gairdner & Conipany. Limited W. L. McKinnon & Co. J. L. Graham & Coinpany Midland Securities Corporation Limited Aird, MacLeod & Company W. A. Mackenzie & Co. Limited W. C. Hughson and Sons, Limited Grifs, F airclough & NorsworthyLimited Stewart, Scully Company Limited Milner, Ross Securities Corporation I` ` Greene 81 Robertson K. F. MacLaren and Company Litnited Macrae & Company H. R. Bain & Company, Ltd. B1-ouse, Mitchell & Company Skaith & Co. Limited D. J. McDougald & Co. H. C. Rlonk & Company J. L. Goad & Co. Limited MacLaren, Fletcher & Connpany New Issue Principal and halyeariy interest (February I and August 1) payable in lawful money of Canada, at the ofce of the Provincial Treasurer in the City of Toronto, or in the Cities of Montreal, Ottawa. Winnipeg, Vancouver, Halifax or Saint John, N.B., at the holder's option. Debentures of the i935 maturity will be payable at the principal office of The Bank of Nova Scotia in each of the abovexmentioned cities and will be issued in the denomination of $1,000: and Debentures of the I947 maturity will be payable at the principal office of The Bank of Montreal in the above-mentioned cities and will be issued in denom- inations of $1,000 and $500 Provision will be made for registration as to principal. These Debentures are direct obligations of the Province of Ontario, and are payable, principal and interest, out of the Consolidated Revenue Fund 0 he Province. The proceeds of this issue will be applied in the funding of temporary borrowings for Hydro~Electric Power development and transmission, highways construction and other purposes. Province of Gntario The Province of Ontario is the wealthiest and most populous Province in the Dominion of Canada. Abundance of water powers, excellent railroad and highway transportation Facilities and a plentiful supply of raw materials have fostered a steady expansion both industrially and commercially. Ontario leads in mineral production, and in the volume of manufactured products; it ranks first in value of eld crops and second in the value of forest products. PRICE : $ 5,000,000 6% Issue, dated February 1, 1932 Due February 1. 1935 320,000,000 515% Issue, dated February 1, 1932 Due February .1. 1947 lbe made by important public bodies ,since the early summer of 1931, with `the exception of the National Service iLoan, which was brought out in the {closing months of the year. . The .=2fi<`F2r','tn1'v recention accord`- iciosmg months or the year. _ 1 The satisfactory reception accord`- `ed the issues of New Brunswick and the City of Montreal doubtless in- uenced the Government s decision to `market its bonds at this time. On.-nu-&~.v rlnnlnua in (\v1'l-0.-nvin nnfir-L ~marKe: IDS Donus at mus tulle. Security dealers in Ontario antici- pate a large volume of enquiries ` from within the Province for the loan as at the time of the offering of the New Brunswick and Montreal ,issues it was found Jhat quite a num- ber of investors stated that they `were waiting for the issue to be made by their own P-rovince as an- nounuced by the Prime Minister sev- eral weeks ago. I `Pminr +n Hm war, the Province was era: WBCKS ago. I Prior to the war, the Province was a borrower in the -London market, the high general level for securitic at that time enabling the Province to borrow at a very low rate of in- interest. In Manrch, 1906, the Pro- .n{nnn iacnc-ri 131 900 nnn nv :1nnw1\'i- interest. H1 1.VJ.d.Il'CH, nluu, Ult: I1'U' `Vince issued 1,200,000, or approxi- mately $6,000,000, 31/2 per cent. Regis`ered Stock at a price of $98.50, ~ and subsequently put out 4 per cent. ` Registered Stock at a premium in I varying amounts during the years 1909, 1911, 1912 and 1913, to a to"al of approximately $7,000,000` D-ue to the war and conditions aris- ing therefrom, that market has been temporarily closed to the Province for new issues. but issues made in London and still outstanding have wide popularity with British inves- 1-`.1-|In:Y|rI 4-kn I1*h=n0'+1or] not-int` 109 Since the turn of the year two im- portant nancial operations been carried out successfully. ing the first week in January the Province of New Brunswick sold $5,062,000 of debentures, -which were issued to refund certain maturing have Dur- "`_obligamions and to cover the cost of aconstructing roads and public build- -~ mgs. lulalllilllg Dy CHE I'1'UVllllJU. ' The New Brunswick issue was followed by one to raise $15,000,000 for the City of Montreal. The Montreal bonds were issued to yield 6 per cent. and met with satisfactory recepton when offered last. Tuesday. The City of Montreal needed the money partly to meet maturing ob- ligations and partly for def-raying `the cost of construction of certain important public works, part of such Works being for the relief of unem- ployment. ~ rru.:.. t.'.,.........:.... 1. lrbnn Dvn1v:nnn nfl tors. During the unsettled period, 1920 to 1923, the P-rowince made sevena-1 internal issues carrying a 6 per cent. coupon. With the return of settled conditions the issues made at that time have since sold at a substantial premium and the Province subse- quently made several issues with a coupon as low as 4 per cent. `nun-incr Hm nnrind since the war 35 10W 3.5 4 p81` cent. During the period since the war 3 the American market has readily a.b- ` sorbed issues made in that market. ' The credit of the Province has rank- ed so favorabily in New York that its : bonds during the past decade have commanded unusual-ly high prices. The important reason, probably, for We offer these Debentures, if. as and when issued and accepted by us, and subject to approval of Counsel. It is expected that Debentures in Interim form will be ready for delivery about February l.|932. The mcunenu herein hav} been nccqned by us as accume but an in no event tn bc cclmrued as rcpnsentations by m ' For the 1935 Maturity 100 and accrued interest, to yield 6.00%. _ For the 1947 Maturity 96 and accrued interest, to yield 5.90%. A. E. Ames & Co. Limited Wood, Gundy & Company, Limited Dominion Securities Corporation, Limited McLeod, Young, Weir & Co. Limited lerce Fry, Mills, Spence & Co. Limited Bell, Gouinloek & Co. Limited Royal Securities Corporation Limited Harris, Forbes & Company Limited 'I Rlatthews & Company Drury & Co Nesl 51/2% Legal Opinion: E. G. Long, K.C., Toronto. I" In 25.1 The Provincial tario has made arrangements with a comprehensive group of security dealers and several banks for the raising of $25,000,000. Of this of- fering $20,000,000 is being issued in the form of 15-year debentures, while the balance of the issue" will run for a period This choice of maturity will, it is anticipated, meet the varying require- ents of investors. The 15-year bonds are being offer- ed to yield 5.90 per cent., while the smaller amount of 3-year debenture: is being offered to yield 6 per cent. Thin nfm-ina has been looked for- Treasurer of On-: of three years. ` and 6% Debentures Mr. John Webb, a farmer of con- cession 4, Medonte, ploughed one of his elds on Jan. 15th, the earliest date for ploughing of which there is any record in that township. At Foxmead the farmers have been both ploughing and discing their land. I A correspondent writes that during the recent mild weather grasshoppers were seen disporting themselves or ` the shore road near Collingwood. On Jan. 16th, Mr. Harry Clark, 97 Patrick St., Orillia, picked a large bouquet of pansies in his garden. Yes, folks, it's true. The balmy April-1ike weather recently proved too strong -an invitation to Creemore bowlers and on Thursday, Jan. 14th, several enthusiasts of lawn bowling gathered at the greens and made his-I ltory for Creemore. A salamander, 21 lizard--like reptile that lurks in damp and swampy places, was seen sunning itself on the planking around a pump on the pro- perty of a resident of 0riLlia on ` Friday, Jan. 15th. The reptile ap- peared quite lively, and not a bit dis- turbed at being out so early in the` year. | The inauguration of an a1l-Can- adian telephone service from Halifax to Vancouver is another link in the march` of progress. On Monday His Excellency the Earl of Bessbomugh in Ottawa spoke through the tele- phone and the Lieutenant-Govemors .. Ltm. Sun nu-nqunnc l1'c>h:-hurl in 111 U'EDa.W'd spune uuiuugu um ht Lleutenant-Govern Iof the nme provmces llstened 1n. the favorable credit position of the Province is the fact that such a large proporfion of the wealth and popula- tion of the entire Dominion is cen- tred in Ontario: Approximately one- third of the population and sub- stantially more than one-third of the wealth of the Dominion is, according V to recent estimaes, centred in this Province. $25,000,000 THURSDAY, JANUARY 28, 1932. (Non-callable) BELIEVE IT OR NOT! The Northern A_ci__v_g_Iic__3__ Nesbitt, Thomson & Company, Limited 1y (First named is chairman) Finance--~F. Downey, Ronan, Cox- worth, Webb, Barr, Borrow, Nelf, McKerro11, Bard, Buie, Nolan, Blair, Smith, Scott, .Robbins, Hill, Good, Tescsier, Hawkins, Brandon, Dutton, Fenton, Cunningham, McKinley, Smith, Simpson. Roads zmrl Ry-idrro. Rrman. ISTANDING C0MMlTTEES ` or 1932 COUNTY COUNCIL Dllllbll, DUIIIISUIL Roads and Bridges--Sc0tt, Ronan, Boake, Greenlaw, Henry. Buchanan, Borrow, Vancise, Crawford, Drink- water, Spicher, Brawley, Asselin, Currie, Iiiernan, Doran, Evans, Nolan, Rogers, Davis, Robbins, Mc: Kinley, Holmes, Tessier, Hawkins, Brandon, Dutton, Fenton, Cunning- hamn, nam. `Education---No1an, Ron-an, Cox- worth, W. F. Downey, Henry, Bu- chanan, Borrow, Neff, McKerroI1, Bard, Buie, Brawley, Asselin, Currie, uliiernan, W. Downey, Evans, .B-lair, Davis, Scott, Robbins, Hill, Good, Tessier, Hawkins, Brawley, Dutton, Fenton, Cunningham, Brandon. I Prin11-u*_a'n`v-ih1:.\xmtm'. Cunning`- |I."eI1'EOU, uunnmgnam, DTZIHQOII. uP-rintin~g-Dvrinkwater, Cunning- ham, McK`*1ey, McKerro11, Holmes, Greenla. , .a1rmpson,Jebb, Buchanan, Hawkins, Smith. :1?aiI.w-nxm -an:-I (`.::na1e__fF`.vnn<, W. nawxlns, amltn. Railways and Canals---Evans, W. Dmvney, Montgomery, Blair, Nolan, Buie, Barr, Boake. . (`.n11'nfv pvnnnrfv:.'R.n0PrR. Ran`. Large Group of Security Houses In-`I sures Widest Possible Distribution` for the Issut.~-Fifteen-Year Bonds Obtainable in Denomnations as Lowo as $500. |D'l11, 13311`, DOaK. ` County ,Property--Rogers, Barr, G-reenlaw, Sr_n1th, Good, $p1cher,` E1-ando~n,B Dlixnkwaggr, Cunnggabm, H2313: Vafniisz, Jeb%)r:nI')1:a); ier, l(1Ira:71-,3 ford, Hill Montgomery, Good, Haw- kins, Femton, Evans, Kiernan, Bor- Thu}, row. - Reforesbation--Buchanan, Spicher, W. F. Downey, Doran, Ronan, Mc- Kerroll. z l"n.~mHnn.-n-n.nn:- ,'Dn.'k~nc `Rvq-nnn Uoxwortn. mu, swans. I :Avga'icu1ture--R`o-nan, Coxworbh, .W. F. Downey, Webb, Borrow, Neff, Bu- chanan, Drink-water, McKerro11, Buie, Jebb. Asselin, Kiernan, Doran, Cur- via 'F!'vIn1-1.: r1e, nvans. . :Legi`s1ai;ion--Crawford, Buchanan, Davis, Buie, Montgomery, Bard, Tes- sier, McKinley, Brawley, Boake, Webb, Hawkins, Fenton, Holmes. : txerrou. '. rconrtmgen-c1es-Rob1ns, Brandon, Nolan. `E`nnnlr1,nHnnT\T.on.:-ion (`.1~a'nrFn1V] Nolan. _ Equa1izration-Vanc1se, Crawford, Coxworth. Hill, Evans. .A:an~n111+-1n-n_a'R`n-11911 Cnvwnvhh, W. The National City Company Limited R. A. Daly & Co. Limited F. W. Kerr & Co. srscm couass FOR} SWINE BREEDERS} ls Demg ortereu I0 ylelu 0 per Ut:ll|.. This offering has been looked for- ward to with a considerable degree of interest since the statement made` by Premier Henry two or three weeks ago with regard to prospective nancing by the Province. Sin`:-p H11: fnrn nf H19 vessr two im- A special tWo-day Swine Course under the auspices of the Dominion Live Stock Branch and the South Simcoe Branch of the Ontario De- partment of Agriculture will be held at Stroud Community Hall on Mon- day and Tuesday, Feb. 1st and 2nd. A very interesting program has been arranged, which is as follows : 111101 ! 1:1 Rn fn A nm :1 R1-inf arr-augeu, wmcn IS as Iouows : Feb. 1-1.30 to 4 p.m.-1. Brief review and outlook of the hog indus- try. 2. Breeding for market re- quirements. 3. Swine parasites and their control by sanitation. pph 9:. Rn 1114 fn 19 nnnn_1 E11611` COIIIFOI Dy SaY1lEaT/IOU. Feb 2-9.30 a.m. to 12 noon---1. ; Farmers experiences in feeding hog. for economical production. 2. Im- portant factors in marketing live hogs. 1 p.m. sharp, class assembles at hog pens of First Ontario Co- operative Packers Plant, Barrie. Thu nv-now-s|.rn for `Han srfh:-rnnnn viii UPCFZIUIVU .1"a.CKI'S' Fla/HE, Di1l'l`l. The program for the afternoon will be of a practical nature and will clude demonstrations in judging of live stock and dressed hogs. I , of the ' day, Jan. 30th, A public meeting, sponsored by the South Simcoe Yorkshire Breeders Club, has been arranged for Satur- at 2 p.m., in the Town Hall, Cookstown. This meeting ; `is especially planned to interest the i ncommercial hog raiser. Dr. R. A. MOI-nt0Sh, Ontario Veterinary Col- lege, Guelph, and L. W. Pearsall, B4S.A., Dominion Dept of Agriculture, will be the special speakers. The sub jects to be discussed treatment of various Chief Swine Grader of the include the ~ ailments in _ swine, breeding problems, and mineral ; deciency in` hog feeding. Mr. Pearsall will deal with the analysis present conditions of the . swine industry as affected by prevail- . ing production, prolbable demand. All interested in the raising of hogs are invited to at- tend these meetings. present holdings, and ` House of .Refuge-Jebb, Coxworth, `the Warden. U CARLTON, BEETON p gnaw; IS WARDEN (Continued from page one) The fourth expenditI.'u`e is the Old Age Pensions Act. At the end of December last there were 1,375 in the county getting the pension. It is said the act is abused, and perhaps it is. As an in_ tho cum nf bzuu UR`: ECU 15 i1UU5b`U, uuu pB.['H'1jJ it is. As an instance, the sum of $240 was recently returned to the Provincial Commission as the result. of investigation when it was found that one getting the pension had money in the bank and a son quite able to take care of his parent The committee tries in every way to get the facts, but some wil-1 swear to things that are untrue. The clerk * of every municipality gets a list of 5 tho-se drawing pension, and if they know of any who should not be on ` the list, the committee should be ad vised. The county pays 20 per cent. ~ of the pension, and in 1931 was as- _ sessed or $54,767.00. Of this i $5,685 was collected from inmates of the Home at Beeton, leaving $49,081 actually paid. This means a levy of `$4 of a mill on the county, or a per- son assessed for $4,000 pays about $4 for the old age pension. It is only fair to say that if it was not for the pension, the municipalities would have to look after many of these pensioners. If any municipal` ity thinks it can provide for its own for less and will underake to do so, it may withdraw. The ahnvn aw: in 9 .l.nv-rrn vvannaiuuon u may wlcnuraw The above are in a large measure responsible for the county levy in the last few years, . and were forced on the County Council by legislation. Thirteen Nominated for Warden When nominations were called for the ofce of Warden, the following names were su-bmitted: John Carlton, reeve of Beeton; Isaac Scott, reeve ' of Careemore; Ed. Dutton, reeve of Victoria Harbor; Jos. Spicher, reeve of Sunnidale; Barry Jebb, reeve of Tecumseth; M. Tessier, reeve of Penetang; Dennis Nolan, reeve of Bradford; W. J. Cunningham, reeve of A-lliston; W. F. Downey, reeve of Flos; F. Hill, reeve of Midland; J. R. Rogers, reeveof Barrie; G. Smith, deputy-reeve of Collingwood; C. Buchanan, reeve of Medonte. Reeve Scott started the retiring ball a-`rolling. Being 67 years of age, 24 years of which was spent in lmunicipal life, and 15 in County Council, he thought it would take him all his time to atone for his sins. However, if he were back in 1933 he would ask his colleagues to make him Warden. Thlm-n hm-.. -..:.J 1.. ....LI he guvyaucuu. This nancing by the Province of Ontario represents the third imperf- ant piece of nancing since the turn -of the year. These three pieces of nancing represent the rst issues to `u . lull] vvaruen. Reeve Dutton said he could go one `better, as he had served in municipal life 25 years, being now on his 16th year in County Council. He would like to fight it out with Reeve Scott in 1933. Dnnxvn r"........:..,..x....-. ,_:.I 17, All 1.300. Reeve Cunningham said he may not have quite as long a record, but he received seven acclamations, an(: if it kept on he might think abouv the Wvardenship soon. ODD hV nnn fhrn nnn1innnc um!-hxnpl Lint VV'u1`uUl1Sl1lp One by one the nominees retired. Reeve Nolan was the last to avoid zvvote. This was his 1'l1 ;,'e:.r i1; County Council, and it was the firs: time he had at all seriously consider ed aspiring` to the W:1rdevn s chain. llle believed 1{ee\r- Czirlton :e`ve<: `several yeuis lo11g'er,:md l\ ;owin;; hii.: as he did, he would step asid: fo this year, but hoped at :1 future aatu .to be in the ruimin_.;. The clerk then announced Reen- Carlton elected as Warden by ac elumation. 'l'lr. 11n\uv \\'n...l...... . - I-r l'1illHdLlUH. The new Warclen was escorted tr` the dius by Reeves Downey and Spicher, the mover and seconder 0; l`.i.s nomination, and in`1'oduced to Hi Honor Judge Holmes, who administer ed the oath of office. Judge Holmes said he was most grateful for '.i_- Thc fol1o'n'i-ng being in the council cha1n_be1', were asked by the Warden to take seats on the dias and addres. the members: Mayor Craig` of Barrie. ex-Wardens Wm. Wood, W. A. Boys. G. W. Glover. Chas. Gratrix, C. Ep- lett and Der. Banting. Mmmr (Trnisr ax-tn-nrlnrl n hum-iv IULL uuu JJ-1'. Dllllllg. Mayor Craig extended a heart); welcome to the councillors to the iown and hoped their deliberation; would solve many of the questions so disturbing in the municipalities. l Fix`-Wzirrlen Glover. n`Ftm- r-nnm-n. r.n- |UlLUl.`Ulllg 1H Ile IHUHICIPUJIEIES. Ex-Warden Glover, after congratu- lating Warden Carlton, assured him that i: was an honor to be appreciat- ed. Simcoe County, with its 80,000 population, is the second largest in the Province, and being on the direct line of travel from all important points to the north, has a bright future. E:<-W=.rden Wm. Wood thought there should be a law prohibiting: men of over 80 years from 1nakin;, speeches. With the excepion of M1. Jos. Wright, of Beeton, he was th. oldest ex-Warden in the county. ` T<`.x-Wm'(I9n W. A. Rnvg nnnm-nf '0l(.llf5ln CK-VV211'(.lCIl 111 EH6 county. Ex-Warden W. A. Boys congrat lated lhe County Councll on its selc tion of a Warden. Mr. Carlton h. the ability, the experience and t power of decison to m-ake a succe- ful Warden. It was always a plea m-n tn nn'mr-I fn Hm nnnnnil r-`hnmlu LUI VV 21111311. Ll: WKS alWay5 a PICK} ure to come to the councll chamb and meet with members of the Coun. ' Council. Friendships of a very la::,~ ing nature are formed in this chai..- ber, and the memories of the day- in County Council are never forgo ten. nvnu n.- ..~. vvnl wished the Warden and members 0. council :1 year of success. F`.v-\N!n'r]nn 'R.nnHn.cr H-1nI1rr11+ G-kn -I:3x~Wardems Gratrix and Eplni`. BVINCE or ONTARIO LOAN 3: ANNOUNCED FOR $25,000,000` CULIHCU U. yuur U1. SUCCESS. Ex-Warden Banting thought the. happy choice had been made in t` ~ selection of the Warden. The duti ` of the County Council were ge`ti.'.-, more exlacting, but the affairs of t county were in capable hands. 11` ferring to the recent execu`ion 3x Barrie. Dr. Banting thought that resolution might well go from fl` council urging that some cent` place be selected in the Province 1" all executions. The reports sent the Toronto papers by certain repo ` (era were wholly unw:u'mnted a" fabriratc-d stories because the She" carrric-rl out the orders that there ` no admittance to wi`ne.<.s the execu- ' tion. _Pge Three Bank of Montreal