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In the first place, he pointed out that the price of gold had fluctuated not more than 4 per cent during the past two years.. As the United States is the only important country maintaining its currency on a fixed gold standard, the price is determined in the main by the dollarâ€"sterling exchange ratio. "This," he said, "is truly remarkable, as it is reassuring, in the cireumstances of the timesâ€"a feature that can be attributed in no small measure to the wise policy underlying the operation®of the exâ€" change equalization funds and the monetary agreement between the counâ€" tries concerned. in of all the disturbing poliâ€" tlical and financial difficulties of the world in the last few years, the price ol gold in our currency has remained remarkably steadyâ€"proof of a continuâ€" ing basis of stability in an otherwise unstable economic world." Speaking of the future of gold, he said that it is abundantly clear that it, or whatl may be regarded as its equivalent in currencies or securities, is the ultiâ€" mate refuge in times of financial trouâ€" ble. If evidence were needed of the confidence of the leaders of the goldâ€" mining industry in the future of the metlal, it is to be found in the fact that toâ€"day there is a large number of new companies, each holding substantial areas, in various stages of prospecting and development, expected to reach the producing stage during the current year, ind for all of which large sums of (By Sidney Norman) The annual address of the President of the Transvall Chamber of Minces, Dr. P. M. Anderson, contains some inâ€" teresting comments which apply with equal force to the gold situation in Canada. old the Ultimate Refuge in Finance Times of Stress Always Fall rack on Gold for Support MAY 26TH,. 1938 Hillâ€"Clarkâ€"Francis ma. sS6 Pine Street 8. Branches at: New Liskeard, Kirkland Lake, sudb ury, Timmins, Ont., Noranda and Yal D‘Or, Que Service Choose Only the finest mategials are used. Lumber that is free from knots and flaws and seasoned to prevent warping. Our reputation is your asâ€" surance of perfect workâ€" manship and strict adherâ€" ence of all building codes and specifications. Hill â€" Clark â€" Francis Years of experience help us in selecting just the right lumber for each job. This alone will save you money by avoiding needless extraâ€" VARance. Here you will always find prompt and complete serâ€" vice. Why It Pays To First Quality The Right Kind t place, he pointed out that f gold had fluctuated not 4 per cent during the past As the United States is the Sxpert Work Doherty Roadhouse Co. Timmins, 19 Pine Street North Toronto Kirkland Lake 293 Bay Street 34 Government Rd. Direct Private Wires for fast and accurate quotations and executions in all Commission basis only Local Phones 1200 and 1201 Market Quotlations Broadcast cach day at 12.20 noun and 5.20 p.m. Accurate Markets and Executions in Members Toronto Stock Exchange Unlisted Stocks Mining Stocks Industrial and â€" Public Utility Stocks Bonds GENERAL CONTRACTORSâ€"BUILDINCG sSUPPLIE® Timmins Now is the time, while this new wealth is providing an economic bulwark, that heed should be given to the future and preparations made for the days when the material benefits and optimism mining creates shall be lacking. Luckily for Canada she has the greatâ€" est virgin mineralized area enjoyed by any country at this time, and, while it may not all be productive, there is not the slightest doubt that many another mine will be found as the prospector, the miner and capital,handâ€"inâ€"hand work northerly to the Arctic. These remarks apply with force to the situation in this Dominion. There is no orgument on the point that mines arge a wasting asset, nor yet upon the fact that the fleeting nature of wealth from that source should be used wisely and with the purpose of setting a naâ€" tion‘s economic house in order. The Advance Want Advertisements "holes in the ground," and that conseâ€" quently it is necessary to replace the mines by some other unspecified asset in support of the population and to susâ€" tain the economic fabric, he suspected that the picture is presented mainly with the idea of justifying a policy of high taxation and other charges not called for by budgetary requirement. Naturally, it is sensible to develop other resources concurrently, but it is fundaâ€" mental to encourage at all times the one industry that alone has made naâ€" tional development possible and which alone can maintain our economic exisâ€" tence. Minerals are of no value until turned to account by the enterprise of those who contribute the capital, the labor, the initiative and foresight to exploit them successfully. The special advanâ€" tage of mining as an industry is fhe rapidity with which its operations make for the accumulation of national wealth. money have been and still are be';,ng provided. Referring to the view expressed by certain political criticsâ€"that mines are wasting assets and will soon become GOOD LUMBER The site, the design, the appearanceâ€"are all important . .. but if you want a home that you can LIV E in an(l be proud of for years to come, be sure it‘s built right ofdependable materials. Here‘s where you can depend on quality and workmanship. Come in and let us show you that you pay no more for superiority. A GOOD HOME Chief interest to the North in this proposcd spending program is the fact that $1,310,000 is earmarked to be exâ€" pended for improved road transportaâ€" tion into new mining areas. There is also an item of $3,000,000 for Transâ€" Canada highway work, tourists‘ highâ€" ways and national parks. There will also be special interest in the North in the paragraph relating to the proposed expenditure of $2,500,.000 for the exâ€" tension of youthâ€" training plans. This is marked as for training projects for younsg people who are unemployed and for older unemployed people. The idea is to specially prepare them to enter certain lines of employment with the necessary knowledge of the fundaâ€" mentals of the occupations concerned that suceess will be more certain than it would otherwise be. It is suggested that a considerable portion of the $2,500,000 set aside for the youthâ€"trainâ€" ing plans is to be expended in the lines of forestry training and conservation work. Both of these lines necessarily have particular interest to the North. Porcupine Still in \ Lead in Production Hon. Mr. Rogers, minister of labor, at Ottawa last week announced a pubâ€" lic works program entailing an exâ€" pendi.u;2e of $40,000,000, designed to speed up recovery, stimulate industry and revive hardâ€"hit areas. Total of 45 mines contributed to April‘s production, the came as in March, but Naybob old Mines reâ€" placed J. M. Consclidated which was idle last month. $1,310,000 to Improve Road Transportaticn into Mines During the month all districts except one reported declines in production, all bcing approximately equal to one day‘s output, but in the case of two mines it Matachewan district, greater proâ€" duction value was recovered from a <maller tonnage of ore milled. Porcupine camp produced $3,535,146, Kirkland Lake, $2,941,015, Matachewan $162,216, and Northwestern Ontario, $1,.109,792. Tonnaze treated in April was 752,â€" 807 tons with average recovery of $10.29 per ton, against 766,579 tons handled in March for average recovyâ€" ery of $1045. Tonnage for the four months of the year was 2,942,350 and average recovery $10.40, comparing with 2,682.178 tons treated and average of $10.55 in corresponding period of 1937. Ontario‘s gold mines produced bulâ€" lion valued at $7,748.169 during the month of April, the April Gold Bulleâ€" tin issued this week by the Ontario Department of Mines reveals, This is the third best month in the province‘s history, being exceeded only in the previous month of March, when outâ€" put was $8,013.494, and in December last year when output was $7,774,581. However, April had one day less than March, and with the average daily proâ€" duction last month at approximately $258,005 drop in production reflects the shorter milling period rather than a decline in rate of production. The decrease from March was only $265,325 or 3.3 per cent. Prodiuction for the first four months of the year now stands at $30,610,487, against $28,303,596 in the comparable period of 1937. April Gold Output was 535,146 in Porcupine. THE PORCUPINE ADVANCE, TIMMINS onTaAir Our Dumb Animals:â€"It was Alexanâ€" dre Dumas, pere, who said: "Dogs are candidates for humanity. They already have many of its virtues and few of A crosscut from the 35300â€"foot level hbas entered the north zone at about 900 feet from the shaft and cut the first mineralized section about a week ago, showing channel value of $32 across eight feet. Previous diamondâ€" drilling has shown five important mineralized sections across a total zone width of 250 fet and the crosscut is being continued to the northernmost limits. Toronto, May, 26.â€"The first gold brick poured by MacLeodâ€"Cockshutt Gold Mines, Little Long Lac area, last Thursday had an approximate value of $65,000 and. according to President Joseph Errington, another is to be poured this week, expected to run about $70,000, indicating a new proâ€" ducer to the extent of around $150.000 monthly, or at the rate of $1,800,000 a year. The mill was turned over for the first tiune on April 10 and fed with low grade ore running from $1 to $2 per ton to the ext,ent}of from 10 to 150 tons daily. On April 18 precipitation was commenced and the average value of all ore handled from the first day of operation to the end of April was $10.25 per ton. The plant is now handling 400 tons daily and can hoist and grind 500 tons in one shift of eight hours. Up till May 16 the average value of all ore run through waw $12.25, which may be taken with reasonable safety as the normal mineâ€"run value. Picneer | Preston East Domc Premier Read Authier Reno San Antonio . Red Lake Goldshore Sherritt Gordon St. Anthony Sullivan Con. Sudbury Basin Stadacona Sylvanite Siscoco Teck Hughes Toburn Ventures Wright Hargreaves McLeod Cockshutt Poured First Gold Brick Last Woeek Pamour Paymaster Pickle Crow | Afton Ashloy |Base Metals { Big Missouri \ Beattie Bidgcod Bobjo Bralorne Buffalo Ankerite ‘Canadian Malartic Castle Tretheway ... Central Porcupine Central Patricia Coniagas Coniauruim [ Con. Chibougamau | Darkwater | Dome Eldorado Falconbridge Gillins Goldale | Granada Gunnar Hardrock Hollinger Howscy Hudson Bay s International Nickel Jackson Manion |Kerr Addison Kirkland Lake Lebel Oro Leitch Lake Shore Lee Gold Little Long Lac Macassa McLeod Cockshutt Manitoba and Esatern McIntyre McKenzie Red Lake McVittics Graham McWatters Mining Corpcration Moneta . Naybob Nipissing Noranda O Bricn Omecega The Porcupine producers are: Bu{â€" faloâ€"Ankerite, _ Coniaurum, Delnite. Dome, Hollinger, Hollinger (Ross), Mace, McIntyre, Moneta,, Naybob, Paâ€" mour, Paymaster. Total for Ontario, 43 producers, 2,â€" 942,350 tons milled; value, $30,610.487. This is an encouraging record fot four months. Porcupine, 12 producers, 1,512.003 tons milled, value $13,.928.201. Kirkland Lake, 11 producers, 814.922 tons, value $11,466,469, Matachewan, 2 producers, 183,648 tone value $647,673. Sudbury, 2 producers; Thunder B district, 9; Agoma, 2; Patricia, 6: K nora and Rainy River, 1; 499,777 to: value$4.568,144. The April gold bullcyn issued by the Ontario Dept. of Mines shows that Porâ€" cupine camp has twelve producers. The camp is thus leading Ontario in the numbe of producers as well as in the amount produced. In the matter of tomnnage Porcupine handles more ore each month than all the other produâ€" cers in the province. For the first four months of this year the totals for the several camps were as follows: T welve Producing Mines on Porcupine Camp List vice Toâ€"day‘s Stocks Listed 1.68 59.50 3.30 3.40 23.170 44.50 50.00 4.60 2.07 4.80 "".15 57.50 2.00 5.15 16 2.00 13.75 4.50 26 tons 15 47 3.10 2 .160 3.60 1.02 8.85 103 92 13 26 Ronda, he said, is talking mill plans, and although nothing definite has been decided upon, it is probable that Ronda will eventually become a producer. ille Canadian. About 35 men are working on this property and the winze sunk from the 300â€"foot level, is down now to 550 feet. It was Mr. Moore‘s opinion that what started out as the winze would eventually be developed into a main shaft, with the winze being comple‘ed thrcugh to surface. Each level down to the 500 has been cpened up, Mr. Moore said, with crossâ€" cutting completed to the vein and sevâ€" eral hundred feet of drifting done. The vein, he said, is reported to be fairly continuous. A faulting condition on the fifth level has been solved. * “’“ + _ @# # *# Lad ## * L w# #4 *# #e ,** *# #* .“ ® % #4 * # ##* ..0 # The shaft on the Bilimac is down over 400 fert, with the vein, which he describes as "lookinz good." opened up on the 65â€"foot, 170â€"foot and 410â€"foot levels. The shaft is twoâ€"compartment and the probable size of the mill will be 50 tons daily capacity. The farthest advanced property in the field from a development point of view is the Ronda, formerly the Nevâ€" ille Canadian. About 35 men are So many other camps have been crowding into notice in recent months that there has not been much heard about Shiningtree. There are prosâ€" pectors and others in this district who have held faith for many years in Shiningiree and are not dropping holes now. These and others will be specially interested in the following from The Sudbury Star: Expect New Producer A new producer is scheduled for this fall in the Shiningtree area, accordâ€" ing to Jack Moore, Shiningtree storeâ€" keeper, who was in Sudbury last week and who is optimistic about the generâ€" al situation in his mining area. "Bilmac is coming right along." he told The Sudbury Star. ‘"They‘re exâ€" cavating the foundations for the mill now and the only holdup is the arrival of the cement for the foundations. Both the lumber for the mill and the machinery are on the ground and I am told they are planning the purâ€" chase,of a new Diesel engine to proâ€" vide power." \ shiningtree Coming to the Front Again New Producer Scheduled for This Fall, Says Jack Moore. 110 on the Biimac is down with the vein, which he looking good." opened up * : 0’00'00000’0 z #* :l’. '0 ’0 ,*®* '. o..‘.“‘. 0"0 Q. z _ '00.0 *e z *# he did not look for Properties in the district, he said, havy» felt the pinch of recent trouble in financing and included in those which have had to shut down operaâ€" tions are the Kingston, which was beâ€" ing financed by a British syndicate, and Shiningtree Gold,. which was launched by Sudbury and Toronto inâ€" terests. Matona, the properiy in which Mr. Moore himself «is interested, also closed down due to lack of finances. Mr. Mcoore, however, is optimistic abciut the district. He believes that Bilmac coming into production will provide real impetus to the Shiningâ€" trce district. At the present time, the properties are in need of power, but Working at Lake Casswell agresment to bring it in Although only six men are working necessary from the pIiY on the Lake Caswell property, it, too, | mm a_.___._ is making fair progress. A Diesel enâ€" ; gine is being ordered ‘and an active Northern development campaign is being carried I in Supplementa ry on. P ie :t © MOST serious colds start with a seemingly harmâ€" less sneezeâ€"but that‘s the time you should apply the rule of preventionâ€"take Alkaâ€"Seltzor. Alkaâ€"Seltzer helps in two ways. First because it contains an analgesic (sodium acetyl salicylate) you get quick relief from pain and discomfort. Then its alkalizing agents help correct the cause of common ailments associated with hyperâ€"acidity. Take one or two Alkaâ€"Seltzer tablets in a glass of water for colds, headaches, acid indigestion, distress after overâ€"indulgence, muscular p aches and pains. It‘s the new, pleasant wayâ€" a Â¥ a sparkling, effervescent solution you‘ll like. of a w{% CHECK IT WITH Alkaâ€"Seltzer /4 any immediate Kapuskasing, $25,000, for airport purposes. New Liskeard, $1,050, subsidy for the Temiskaming Producers‘ Coâ€"operative. Sioux Lookout, public building, (9,â€" 300 revote), $13,000. Amos, $50,000, for post office, Ville Mariec, $15,000, alterations and repalrs to post office. Sault Ste. Marie, dreaging, (revote $20,000), $36,000. Gore Bay, wharf repairs, (revote $13,500), $19,400. Several Northern Ontario communiâ€" ties figured more or less largely in the supplementary estimates announced by the Dominion government last week. Theso include the follawing: Northern Ontario Figured in Supplementary Estimates pI the nine mil sont lines.