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PrOprieters J. Dalton g 2. That the Standard Stdocek Exâ€" ? A. Miller ; change is engaged in an extensive and pernicious system of stock peddling. Stock Exchange underwrite stock at 7 3 es . g Phone 39 ; Box 71, Timmins ;" 3. ‘That memibers of the Standard A S S ep uo 8 e 051050005 95 15 1595 1010500 15 9511515 95 95 0595 05 05 3595 95 050535 05 30 4595 4095 00 05 90 000000 cce q 10 conts per share and dispose of it o o o o o o o in in in i in id i id id in io To in h in 1 in in id in in in ib i5 i5 i5 i5 i5 i5 o i5 i5 i5 i5 15 15 5 5 15 5 6 3 NORTHERN BRICK AND BLOCK C0. : sOUTH PORCUPINEâ€"Dome Mines Co. Limited, Reamsbottom Edwards, United Provisions Company, TIMMINSâ€"Hollinger Stores Limited Frank Feldman Shankman Bros. Frank Byck ©onNNaAUGHTâ€"M. O‘Connor SsCHUMACHERâ€"McIntyre Mercantile Co. Limited Y ou can do that very thing if you build your basement walls and house with blocks from the Northern Block Company. Come in and inspect the plant and its production; then figure it out for yourself and you will be convinced. No. 1 gray brick cost $26.00 per M. at the plant. Where is this plant? On the road to Dalton‘s Race Trac Four Stores in the North The George Taylor Hardware Limited DO YOU WANT TO SAVE MONEY? The Geo. Taylor Hardware A Permanent Wall Without Plaster Always at your Service Limited Standard Mining Exchange Makes Reply to Criticism PRESIDENT AND SECRETARY MAXKE FORMAL ANSWER TO SUGâ€" GESTIONS IN RECENT ARTICLE IN STATIST," THE WELLâ€"KNOWN FINANCIAL JCURNAL PUBLISHED AT LONâ€" DON, ENGLAND. ericiecrism. it may be of note that The Globe des Bridgewater as a director pineâ€"Davidson Gold Mines inz English interests, Sit Mitchelson being the presi company. M lhe ‘hondon, ivng. Dear Sir:â€"The directors of the Standand Stock andâ€" Mining Exâ€" change have made a wvery careful analysis of the article appearing in your paper under the caption ‘‘The Fly in the Ointment.‘‘ We find that this document constitutes primatrily a quarrel with the mining laws of the Province of iOntario. Your correspondent, in the closing paragraphs of his article, makes cerâ€" tain disparagir@ statements with reâ€" gard to the modus operandi of the Standard Stock Exchange. He careâ€" fully deals in the broadest generaliâ€" ties; however, by inference we asâ€" sume that he makes four specific charges: The article in The Statis zsiven wide publicity. Ci pers believe it popular knock stockâ€"brokers. At such policy may distract p tion from certain commer( dustrial wildâ€"cats. Statist, and makes reply in very moderate tone. The following is the reply to the strictures in The Staâ€" tist :â€" \ 1. That the Standard Stock Exâ€" change offers no protection to the public. Lt THE PORCUPINE ADVANCE, TIMMINS, ONTARIO The letter by the officers Mining Exchange indicates tl isms imposed by the letter Statist, and makes reply 2. That the Standard Stock Exâ€" change is engaged in an extensive and pernicious system of stock peddling. 2 ‘That memlibers of the Standard To the Editor, The Statist, London, ently Mr. Howard a letter : in The Stat England, in which x@hnan Cobalt Cochrane New Liskeard Timmins the officers of the indicates the critic he Statist has been ity. City newspaâ€" popular policy to rs. At any rate stract public attenâ€" commercial and inâ€" nterest ribes of Po represen gewater Of LOII- Ontario )1 in The the it tention change any alle T here is In regard to the sale of stock at a 90 per cent. discount, we would point out that this is in accordance with Provincial® legislation. We are not the legislating body. We have no fault to find with sale of stock at a diseount; Your _ article, â€" however, carries the inference that the entire capital is put out at heavy discount. This is rarely the case. The pioneers who put up the original money to prove or disprove a group of claims take the heavy risk and, we suggest, are entitled to commensurate return if the ground is proven. A small quantity of stock is sold, usually at low prices, to provide for this work. If the property then looks favorable another portion of the capital is isâ€" sued at a higher figure. As developâ€" ment proceeds additional stock is ofâ€" fered, as a general rule at advancing prices, in accordance with the lessâ€" ened risk taken. Comparisons are indeed odious and we do not intend to enter into any discussion of the merits or demerits of any of the exchanges of this counâ€" try, but in conclusion will say that the record of the Standard Stock Exâ€" change with regard to the success of its listings will compare favorably with that of any exchange on the North American continent. The numâ€" ber of shares traded in, and the value thereof, for the years 1922 and 1923, were â€" as > follows: 1922â€"71,124,614 shares, value $29,672,742.90; 19:?..3 76,491,566 â€" shares, _ value $36,015,â€" 8$00.35. VALUABLE PROPERTY AT SsSOUTH PORCUPINE FOR SALE As noted in these columns last week, the recent fire at the property will not affect the sale under mortâ€" #sage of the property in South Porâ€" cupine known as the Killins property. The sale is to go on as previously adâ€" vertisedâ€"on Tuesday, Aug. 5th, at 2 p.m.,â€"by public auction, Mr. H. W. THIS GUYÂ¥ WAS A REAL DIPLOMATIC GENTLEMAN We enclosge herewith copy of our listing papers. . ~â€" Standard â€" Stock F. Asa Hall, President. J).m.,â€"â€"JV puUodic auction, ‘Mr. 1. W . Warren being the auctioneer. The value of the property arises from its central location in South Poreupine making it a very desirable piece of real estate. At the same time and place, two Ruggles ‘busses will also be sold by public auction. Tom Noddyâ€"*‘‘That Wottle girl‘s looking as old as her mother."‘ Mrs. ‘Wottleâ€"*"Did I hear my name mentioned ?" ‘‘Tom Noddyâ€"‘‘Yes, I was just saying that you looked as young as vour daughter."" ire Standard Stock Exâ€" es unfavoradbly with of this country. the desire nor the inâ€" Standard Stock Exâ€" p) a controversy over ctrine of infallibility. or improvement in the erv exchange throughâ€" Yours truly, Mininge Ex Exchange rawford, Secretary,. wy/szfff,lflffif///f,/,f.?/l 4 * * 555 ES 4455 44 445 5 i8