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THE BANK OF TORONTO WK OF TORONTS FIFTY-SIXTH ANNUAL GENERAL The Fifty-sixth Abnual Meeting of the Stockhalders of this Bank was held on 10th January at the Head Office in Toronto, The President, Duncan Coulson, occupied 'the chair. Thomas F. How, fhe General er, acted as Secretary, and Messrs. E. M. Chadwick and George R. Hargraft were appointed Scrutineers. The following Report was then read by the Secretary : The Directors of the Bank of Toronto beg to présent their report for the year ending 30th November, 1911, accompanied by the Statement showing the condition of the Bank on that date and the result of the operations for the year, 1 iy PROFIT AND LOSS ACCOUNT. The talance at credit of Profit and Loss on 30th November, 1910. Pag Net Profits for the year, after making full provision for ali bad and doubtful debts, and deducting expenses, Interest scorned on deposits, and rebate on current discounts, amounted 30 the sum of v L9677,964 22 *remiae re eived Koei erin. rer heal $0%.050 00 $184,777.09 $1,480,791 21 This sum has been appropriated as follows -- = 3 Dividend at 11 per cent. .. WRITE tas $455.721 32 Transferred to Officers' Pension und ae ta ews i ne ye Written off Bank Premises .. 390000 4 Transferred to Hest Account from Profi and 250.9 00 Tranaferred to Rest Account from Premium « Carried forwapd to next year 60% 050 a0 62.019 99 $1,480,791 2 REST ACCOUNT. S30 500 "s Balanck November 20th, 1910 'i. . 'i $4,750,000 00 Transferred from Profit and Loss Premium on New Htock a . $250,000 00 605.050 00 $54,060 00 al hes 'vo le Vaan nay 5,608,050 00 AvernpaL ber Dalapes Bheot the fiscal year - i 142,821 00 There has been a continuance of the prosperity of the country. Import- ant industries have been enlarged and established, labor of all kinds, skill ed and unskilled, has found steady employment, new territery hss been opened up and made productive, immigration has added largely te our pop- ulation, and the wealth of the country has steadily increased. The statement of 'the Bank's affairs herein submitted to you shows that the Bank has shared in this growth and has benelited by these conditions. Seventeen new branches have been opened during the year, making the + total number of offices 102. The new offices are at : Ontario--Dundas and Keele Streets, Toronto; Lyndhurst, Milton, Otta- wa, Penetanguishene. : Quebec-512 St. Lawrence Boulevard, Montreal; Atwater Avenue and St. Antoine Street, Montreal British Columbia--Aldergrove, Merritt, Vancouver. Manitoba--Transcona. 2 Saskatchewan--Colonsay, Pelly, Feerceville, Stenen. Alberta--Coronation, Mirror, : . The increasing business of the country has made necessary an increase in the amount of bank notes available for circulation In order to enable this Bank to increase its issues and meet the requirements of its enlarged business your Directors decided to ofler for subscription by the Sharehold- ers $1,000,000 new capital to be issued in the proportion of one share of new stock to four shares of old stock, at the rate of $200 per share. $608,050 of this new stock has been paid up, and we were enabled to in crease our circulation to the extent of these payments, and our powers to use emergency circulation were also thereby extended, : 4 The sum of $250,000 has been taken from Profit and Loss Account') and added to the Rest Account, and the further sum of $608,050 received as premium on new stock has been transferred to that fund, which is now $1,000,000 in excess of the Paid-up Capital, The Directors have, with deep regret, to record the loss the Bank has sustained through the death of their late colleague, Roberi Meighen. He took 'a very deep interest in the wellare «f the Bank, and his wide expevi- ence and sound judgment were of great value. We have pleasure in being able to report that the vacancy in the iloard was filled by the election of Lieut.-Col. Frank S. Meighen. apital for Hastings and Carrall Streets, The Head Office and Branches of the Bank have been carefully indpeot-. ed. In addition to the inspection at Head Office by the inspecting officers, a committee of Directors have, as usual, verified the Cash, Securities, and Loans at the Head Office, also the amounts shown as due to and from other. Banks. They have cxamined the returns received from all the Branch- es of the Bank and have verified the figures contdined in the balance sheot ted to you. . rat al trv All of which is respectfully submitted, Db. COULSON, President. GENERAL STATEMENT 30th November, 1911. Notes in Circulation ... .. Deposits bearing interest , . . . vn Deposits not bearing interest ,......... Balance due to other Banks "ie Quarterly pividend, payable 1st Deccember, % i iwudend, $128,077 27 fut 4260 kh al $34,049,652. 70 6,177,011/20 41,126,663 96 487,710 77 19 3 Dividends u id... 125,338 02 hm $46,602,144 75 00 do 197.400 00 Capital paid up $4,608,050 Best v.. ».. ... 5. +4. 808,050 Interest Accrued on Deposit Receipts and Re. © | bates on Notes Discounted ... . . Balance of Profit and Loss Account carried 4 forward ,.. .. 52,019 99 10,465,510 99 $57,007,064 74 ASSETS. Gold and Silver Coin on hand $ 809,057 71 Dominion Notes on hand . ... 4,759,802 00 i a sm $3,568 850 71 Notes'of hand and cheques on other Banks 2,648,625 24 { 'Balances due from other Banks ...,.. .. '1.987.493 82 Deposit with Dominion Government for security of Note Circulation ... . .. 188,800 Government, Municipal, Rallway, acd other Debentures and Stocks . «+ 1,604,607 40 Call and Short Loans on Stocks aud Bonds "ET 1278 48 ¥ Pe eee 815,509,664 63 Loans and Bills Discounted ... .;. $40,084,758 92 Loans to other Banks seenred .. .... 170,766 71 Overdue Debts (estimated loss provided for) * "87.817 73. ' -- 40,203,337 36 Bank Premises . ..o vos onan... afb EE DL 1264602 75 $57,007,604 75 THOS. F. HOW, Aeneral Manager. S---------- SE % After the reading of the Report the President. phon addressed the meet- ing as follows : > te Gentlemen, Jt is not my intention to add very 'fouch to the Report which has just been read, but there are a few imattefs to which I would like to direct your attention. TERS -The favorable conditions which have charagterited business in Canada throughout the past year are suficiently well known to . 10 render un- necessary' and lengthy analysis of the many ich have conduced to the country's prosperity. hh : These factors may be 1 . thetolionin, headings : { ing, Expenditure t;, Intrease in Manufac ng, Da Suvelapiien rgement of the Area of Land The country is still $0 la, ly or upon harvester and fai prices for its agricultural Den at these on ime tobe the Tioat or " portant and fundamental points in the situat LCI jrespest to these the results of the year have not been as profitable as had at one time been 00 pons si t of Mines, A i : ces being obtained are to some extent compensating quantity. In this Province farming has we so diversi- ¢ in ove direction ave lanced by those ble in other directions and greater stability is thus given to industry. wis the growth of more improved methods of farming there every prospect that good returns will contifte 1a be received hy our agri if He } crops have, biirely been up to the aver 'examination: would THE DAILY BRITISH WHIG, ¥ rnd try, with the prospect of their continuing to increase the same by their la bors and industry. € must not forget that the very large expenditures at present being made in connection with railroad construction are responsible for the cir. culation of large amounts of money and the employment of labor on a large scale. At present there are in operation in Canada 25,500 miles of railway and 7,000 miles under eonstruction. The earnings of these railways last year aggregated about 200,000,000, whilst the number of men employed by them was increased by-about 10,000, It is perhaps difficult to estimate the amount of foreign eapital Lihat has been brought into the counfyy to dssist in this railroad building and in the development of our industrial and municipal enterprises. According to a tabulated list; which had been published, the bonds for Canadian un- dertakings that have been issued in the London market during the last vear aggregate about $200,000,000. In adition to this sum, moneys have been obtained by private loans and investments, the total of which is not easy to determine, H ¥ Nor must we lose sight of the fact that, although the expenditure of these large sums of money is tending to promote prosperity at the présent time, and is, we believe, being ex ed in ie 2 that will" ultimately prove profitable, yet the country must provide a large amount interest charges on the indebtedness which is steadily accumulating in conse quence of these borrowings, Wis. M i 1} So long as the population of the Dominion continues to increase and its lands, forests, fisheries and mines are productive, so long will the country be able to bear the burden of this indebtedness, and at the - same time build up a happy and prosperous community. . A The necessity for extension of railroads and the construction of other public works will continue though it is not certain that it will necessarily proceed at the same rapid rate that has characterized recent years. Foreign money markets are not always prepared to supply capital on a large scale for the promotion of newenterprises, and we must not, there fore, assume that money can always be borrowed to the same extent as heretofore, nor must we harbor 'the delusion that the expengliture of bor- rowed money and the apparent prosperity created thereby always constitute a stable foundation for solid growth. The enterprises into which this borrowed capital is put productive in order that the heavy burden of the interest charges may be carried, and since a time may be expected when rapid expansion = will be come less vigorous and expenditures of borrowed money be curtailed, we should not mow assume tft present favorable conditions will always con- tinue, At the moment it is perhaps safe to say that the outlook is favor able, but the necessity for care and conservatism ought never to be lost sight of, yearly for REAL ESTATE. We should perhaps call attention to the extent real estate has developed. This is not confined to any one part of the country, but the prices of properties in and adjacent to Eastern and Western cities and towns are being advanced in very many cases far beyond what is prudent. There was a basis for a reasonable advance, as many of these cities and downs will have a steady growth, but the upward movement, in our esti- mate, is being overdone, and we cannot let the opportunity pass without ut- tering a word of caution and calling the attention of all wh) are interested to the danger that exists. ' to which spéculation in BANK PREMISES. ; On looking at the statement which has just been read you = will notice Ahat the amount of this account is $1,264,662.75, an increase of $364,662.75. With the continued growth of the Bank this account must necessarily in crease. : During the past year seventeen new branches have been added to our list and we have been obliged to provide premises' and equipment for them. In addition to the expenditure incurred .in connection with these new offices, wo have found it necessary to erect buildings at older branches where our busi- ness has become firmly established, and where it is desirable that we should have permanent quarters. We have also in some exceptional cases found it necessary to purchase properties in qrder to provide residences for our Managers at places where suitable accommodation could not otherwise be obtained. Expenditures incurred for safes, ofice furnishings and fixtures at all of the offices are at once charged up as expenses and do not appear in our balance sheet; consequently we hold the office furnishings and safes and ev- erything of that nature at our 102 offices without any value being taken to the statement. We may also state that the amount now standing in our Bank Premises account represents shout 60 per cent. of the actual cost of such premises 'and their furnishings. BANK CAPITAL AND CIRCULATION. In our Report last year we informed you that it would probably be be- cessary to enlarge our capital in order to aid in providing circulation for our increasing business. In accordance therewith your Directors decided in Aug- ust ldst to offer new capital to the extent of $1,000,000 for subscription by the existing shareholders. The amount of this new stack which had been paid ir up to 30th November last, was $608,030, and the time for subserip- ' tions does not expire until 15th February. : REST ACCOUNT. As you are aware, this new stock was cent. and the money derived from this to the Rest Account of the Bank. In addition to this sum, we have trans ferred $250,000 from our Profit and loss Account, and the amount of the Rest has been thereby made up to $5,608,050, which is $1,000,000 in excess of the amount of Paid-up Capital. It is desirable to emphasize again what we building up the Rest Account. It is intended primarily to strengthen the position of the Bank and to insure that the interests, both of depositors and shareholders, shall be protected and preserved. The larger the amount of combined Capital and Rest the greater is the protection afforded to depositors, asshoth of these funds would require to be swept away before the depositors' interests could suffer, Also the larger the Rest Account the greater is the protection . afforded to Shareholders against any possible impairment of their subacriptions to the Capital Stock. Such an impairment could only occur through losses suf- ficienfly large to wipe out the Rest Account. Since any losses that might occur would naturally be in connection with the loans and investments made by the Bank, it is proper to consider the proportion which the Rest bears to the loans made by the Bank, or to the liabilities which are due to the public, rather than to its proportion to the Capital Stock. As the loans of the Bank 'increase the risks naturally portion, so that an amount at the credit of Rest Account which would be considered by conservative Bankers quite sufficient for liabilities amounting to $20,000,000 would not be considered sdfficient "for abilities amounting to $40,000,000, The following table will show that the Banks in very rapidly during the past ten years: 7 Total of All Banks in Canada. Percentage Liabilities Percentage Capital of Rest to to public. Rest to paid up. Rest Capital 31, 1901 .... ..$ 67,501 $37,394,708 55 p.c. 9.091, 30, 31911 .. . 107,472,668 95,699,232 59 pe. 1,173,438 296 "While the percentage of Rest to Japital has Ine reased from 55 per cent to 89 per cent, the percentage that the Rest bears to the Liabilities has de- creased from 8.32 to 8.16 We submit the figures of the Bank of Toronto for the same period: --- Bank of Toronto. 2 $21.77 2 422.77 - bee 3% 180 RUINED RIGE 1ae Wejsen ies 5 From the figutes Presented in he November Returns to the Government y eight other leading Banks we find that the reentage that h ears to the Liabilities runs Lon 6.7 to 10.35. oy i. thelr: Rem ese percentages are taken not. on the loans made by the nks, but o their Liabilities. While the risk incurred is on the hon Ra Rua but_on et, owing to the varied character of the items which are embraced Jf the vestments, it is advisable to take the percentage on the amount for which the Banks are indebted to the public and to show the percentage of margin held in the Rest Account over these Liabilities. , . Although the figures which we have presented to you indicate that eur percentage compares favorably with that of other leading institutions, we think we tre acting M1 the best interests of the Starehoiders of thie Bank in having our Rest Account grow with our increasing abilities, 1 BANK INSPECTION. You will also observe that in the Report we refer (0 the inspection made at the Head Office. by a Committee of the Directots led by the = Se cond . Vice-President. This inspection has been thoroughly made, and all items entering. into the balance sheet have Leen verified by comparison with the Branch Returos and by personal examipstian and verification of Cash Securities and Loaus at the Head Office. . The inspecting officers' reports of veriouvs tranches which have been presented during the year have heen gone over, and thus the whole of the affairs of the Bank have, through this Committee, come' under review by the Board, ; J¢ has been suggested that all Banks should cr inspection we bave no objection to such an external inspection if made by competent authority, and should the Government decide toin corporate provisions to that effect in the Bank Aet we will be ready to agree to whatever inspection ihe country, through its representatives, de sires. i A At the same time we believe that in the interests of the Dank aad. of you, the Shareholders, no inspection that may be devised can be so thor. ough and valuable as that which the Bank now our inspecting officers and ihe Execulive and C tors. | 5 £ & Personally we are not in favor of an irsfection by" the ' Canadian Bankers' - Association, which would involve a responsibility bei placed upon the banks constituting that body. ¥ o_o From an lowing extract "Assumption He issued at » premium of 100 per premium, $605,050, has been added consider to be the object in increase in pro- Canada have grown Dec Now 5.18 undergo an oufside audit the Bankers' Aswceiation of the duty of inspection or ; upon the sssociatéd Banks a certsin amount of responsibility for bank.failures. Vor, if the association periodibally, over- ba ibs the affairs of the varions Hanks and certifies that all of them solvent or woriay to continue in business, the ie. sociati losses suffered w must become' {to him and spoke, but the Canadian Satticle. Tecatly published on Bank Act Revision the fol. 13, 1012. .JAssociation is likely to require exténsive powers before it undertakes duty of this nature." : ' . Our opinion is that the responsibj ty therein referred to showid noi , and that no action which may be taken by the Association should permit any such respof¥ibilityto be imposed, nor even to be in ferred. The Directors of this Bank are quite preparid to assume responsibility for their own acts and will always Yor to present to you a conser- valive statement of the affairs of the ban, but we do not think that this Bank, as a member of the Canadian !lankers' Association, should have im- posed upon it any respopsibility that may attach to the condition. of any other Bank which is; of niay become is member of the Assodiation and whese affairs may ultimafely prove fo be in an unsatisfactory state. We think that the Assoctation should, if required by the Government, stand ready to aid them in exercising supervision and should give thei best services towards making such supervision or inspection effective, but we consider would be wholly against the interests of the Stockholders of this Bank to have a respondbility placed upon the bank or a member f the Canadian Bankes' Associatico, that, in our opivion, no IHank should assume. We have gone quite far enough in that direction in con- nection with responsibilities which attach to us as contributors to the "Bank (lirculation Redemption Fund." : ' Pernmiit me to add a personal wor | as to the great loss we have sus tained through the death of Mr. Meighen. He was very shrewd and tar seeing, of the highest inlegrity, very loyal to the Bank and ready always with his wise counsels and large influedce to do everything in his power to promote ils interests. Ie was not able to attend the weekly meetings of the Doard on many occasions, yet he kept closely in touch with its al- fvifs, and our large interests in Monireal were benefited by his counsels and assistance. ; ; We deem ourselves fortupafe in having his son, Col. Meighen, join us «on the Directorate, and look forward to his filling worthily the place his father occupied amongst us as a member of the Doard. I shall have pleasure in answering any questions that any shareholders may desire to ask, and to give any further explanation that may be re- quired, . . y I have now pleasure in moving, seconded by' 'the Vice I'resident, the report now presented be recdved and adopted. 3 The motion was carric!, a8 was also a motion expressing the thanks f the Stockholders to the President, Vice-President and [hrectors for their attention to the affairs of the Bank during the past year. The following were elected Direc-tors for the ersuing year William Henry Beatty, William George Uooder: ord, Charles Smith, "{yman, William Stone, John Macdonald, Albert Edward Gooderham, Nich- clas Bawlf, Duncan Coulson, .Joseph Henderson, Frank Stephen Meighon. The new Board met immediately efter the Annual Meeting and wnani- mously reelected Nir. Duncan Coulson Presidet; Mr. W. G. Gooderham, Vice-President, and Nr. Joseph Henderson, Second Vice-President. -- r---------------- Good Advice. The minister had just finished a lit- tle opening talk to the children, pre- paratory to the morning service, when Mrs. Berkeley suddenly realized, with all the agony of a careful housewife, that she had forgotten. to turn the gas off from the oven in which she had left a nicely cooked joint, all ready for the final reheating. Visions of a ruined dinner and a smoky kitch- en roused her to immediate effort and, borrowing a pencil from the young man in front, she scribbled a note. Just then her husband, an usher of the church, passed her pew. With a murmured = '""Hurry !" she thrust the note into his hand, and he, with an understanding nod, turned, passed up the isle, and. handed the note to the minister. . : Mrs. Berkeley saw the act in speech- less horror, and shuddered as she saw the minister smilingly open the note and begin to read. But her expression of dismay was fully equaled by the look of amazement and wrath on the good man's face as he read the words: "Go home and turn off the 'gas !""'-- Tit-Bits. that EE 1,020 Days of the Law's Delay. New York Werld 9 In Sing Sing prison, yesterday, a man was executed for the murder oi his daughter in . this city 1,020 days re, . This was no mysterions case requir ing elaborate detective work. There was no rnuibble upon circumstantial evigience : Margano was seen to shoot his daughter and caught trying to kil! himself. It was not a celebrated case, prolonged by highly paid attor- neys; the culprit was poor. Delay in trial and conviction was excessive but _not unusual; he was first sentenced to die 277 days after his crime was com- mjtted, The remaining 713 days, more than two full years, were consumed, to the scandal of the courts, the hurt of the community and the encouragement of crime, in such unjustifiable obstruc- tion of justice in a clear case as the court. of appeals on November 29th last so severely 'scored in its final decision that Albert Wolter must die. When will New York become suffi- ciently civilized to discourage murder by the prompt trial and punishment of murderers ? Why 1,020 days ? Stage Lonely For Girls. Stage life is lonely, according to Blanche Ring, the happy star of "The Wall Street Girl." It cannot be said that Miss Ring, with her jovous per- sonality and charming smile ever looks lonely, and yet she advises stage- struck maidens to keep out of the pro- fession "Not only are you lonely," says Miss Ring, "but you can't eat what you want to eat; you can't sleep when you want to sleep; you can't have a home (and children) when vou please; you can't have your own way about anything when your feminine heart wants its own way about everything: you can't live the traditional gay life and long continue to live; in fact, you can't do anything but live for yowr art. "Few girls work up from the chorus to be stars or leading women; but even if a girl does finally remch . the universal 'goal of being a etar, it's a lonely life. I'm not excepting chorus. Some people have the imptession that the chorus girl lives a lifa of revel. That is grossly erroneous and unjust. More than likely any chorus girl you may pick out is sending money 'home The Gender of Stamps. Never had there been such a motion in the little flat. And most excited person present was (the sister of a young mother who had just presented her husband with twins. Auntie was wildly delighted at be ing #untip in A double sense, offi she rished to the post office for stamps to spread the great tidings. "Stamps!" she jerked, as reached the counter and flung her money "How many, miss ?"' quired the clerk, "Two !"" she cried 'What kind 7" "A boy and girl I' she returned rap turously, as sho bade him hurry oom- down politely in joyously. Same Old Fans. There will be pew faces in the base ball field this year, but the same old faces will fling sarcasm from the bleachers whenever the play falls one fourth of one per cent. short of per fection the and she HOW PRICES HAVE INCREASED | On the Produce Market in the Past Ten Years. As people look back at their ac counts for the past ten vears it is surprising to notice the difference in the prices of food. The prices now are almost double what they were at that time. The housewives are continually Somplaining of the extra cost in keep- ing up the home to what it used to be. Bitter seems to be the thing that has gone highest in price. reamery butter that sold ten years ago for from 2c. to 2c. a pound, is now sell- ing for irom 30p. to 3e. Farmers' butter in prints at that time sold from 1Sc. to 20c. a pound, while now the farmers are asking Mc. to 8c. a pound for it. Another thing that is quite noticeable at this time of the season is the price of turkeve. The price on the market ten vears ago was 12§c. a pound, which was consid- ered higher than usual, as a week pro vious turkeys sold for 10c. Now the price is almost doubled. The grain merchants are more for their produce now than they were a decade ago ungarian flour that sold then for $2.10 and $2.20 a hundred,' now brings $2.90. _ Potatoes and eggs are also away up in price. Potatoes that sold in those days for from S0c.'to $1, are now bringing $1.40 a bag. Eggs that were bringing: from 2c. to 30c. a dozen are now selling from 40c, to 50c. a dozen. getting -------- The Art of Resigning, I have an Irishman driving one of my teams who has worked for me fod ten years. He is just as faithful as the day is long. Every now and then he has "blue" days. He thinks he. is not appreciated. Last week Pat sent me his resigna- tion, He gave no reason. I wrote back, accepting his resignstion without comment. The nest morning while I was chews ing my special brand of plug on the shipping platform, up comes Pat. Ses he, "Mike Kenney, what do vou mean by accepting my resignation ! Isn't my work satisfactory Sez I, "Pat, didn't 1 understand your note to offer your resignation ?" "Yes," sez he,' "but, Mike Kenney, you know well T didn't mean to re- sign." ' "But, Pat," sez I, "vou have resign. ed, you are out, and now there is noth- ing to discuss." Sex he, "Then I withdraw my resigna- tion." "All right," sez I; "Pat, you're back on the pay roll. But, Pat, when I hauled ore in the early days in Lead- ville it wasn't the best thing to make a 'gun play' unless you meant busi- ness.' "You're right," sez Pat. "I shed my shootin' irons right now."<Gimlet, Some Matrimonial Tangle, Some years ago a man and woman were married at Atchison, Kan. They saved up 85,000. The woman died. The man married a second wife, and she died. Then he married a third wife and she outlived him. He left her 810,000. She married a second hus- band and started him up in business with the $10,000 which her first hus. band bequegthed her. She died ree cemtly and her husband is worth 850,- 000. There is now a hig kin row on because the man with $50,000 won't cate for the grave of his wife's first husband, and also the two graves of the two wives the first man lost. Kan, sas City Journal, . Wo print letter heads, bill heads, en- velopes, statements, dodgers, posters, in fact evervthing from a visitin card to a large volume. The DBriti Whig office. Deseronto 'councit made these - ap- pointments . A. H Whiting and HM, Howard, auditors; E. Clement, asses sor; WW, Woodcock, high school trus- tee, and A. CG. Bogart ta hoard of health. Tungsten lamps will lessen your ighting bill seventy per cent. Drop in at the H. W, Newman Flectrie 'o's dtore and see how they work, to mothers and younger sisters."'---Mil. waukee Journal. "Ring Off, Please!" She was a very naughty telephone girl, and she ought 10 have knc better than put the subscriber on the wrong number. Nevertheless, She did it. Naturally be thought he was con nected with the local theatre ior which he had asked, and, being in a hurry, he promptly asked ior a box for two that night. . "But we don't have two !"' said a startled other end of the line. "Isn't that the Princess Theatre ke demanded crossly. "Woy, no," was the answer. 'This is Graves, the undertaker." He rang off. « Parker's Friend. Sir Gilbert Parker is fond of tell ing haw he onte met in Ontario w breezy type of Canadian, who always added the tag, "Give my love to the girls)" to everything be eaid. : Ten years after first - encountering' this lively 'individual, Sir Gilbert was again staying in Ontdrioy ang while going down the hotel corridor! heard the well-known phrase echoing once more in his ears-- "Well, give my love to the girls." izing the man, he went over for the boxes voice at us back to the year established the chief bhrewmaster. Sale's Beer," was age of the did not remember the former meeting cloister and until his distinguished interlecutor re- called the circumstances. "Wel, well," said the Canadian, "and what .are you doing now *" "Writing books," was the a : "Is that so? And Pve ar Se rich," came the elated repl€. "Got a little "provision store round the cor ner. Can I do anything for you?" The man who keeps a disre never writes much in the lise of self-cenwure' There's u class of men that Some] bow seem to be specially built jor prodigals. Argument is often commenced with both parties fully deteginined not te to dar Ww. R Sexsmit h, a real a 3 REINHARDTS THE FAMOUS NATIONAL DRINK There's a story behind "Salvador" beer --QGanada's most famous brew--that carries The Grand Duke Ferdinand, the Bavarian monarch of that iod, the now Joi cloister brewery om the Nockerberg Mountain, near Mun- ich, and appointed Father Sale The produ of the royal brew- ery was first known as "Father untl the more convenient title of Salvador" was adopted, about a cestury For aver 150 years Salvador" brewed under the patron- Bavarian 'Yoyal £5 family. In 1808, Frame X. Zacher] acquired comtrol of the 1651 Mr. Lothar Reishardt complet- ed his extensive studies of Ger- man brewing in this femeus cloister brewery, where he secured the secret formule and ocess for brewing '* Salvador' © has the sole right under the Canali Government very original process de- vised by Father Sale in 1651. OF TORONTO Gtx a ¥. fifty-four years. His tives reside at Selby, in Lenoox 3 . _-- | . - , oe Local Agent: E. Beaupre, Telephone 313