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4 THE DAILY BRITISH WHIG . ANNUAL MEETING OF = ---- BANK OF MONTREAL; BUSINESS SITUATION Bir Vincent Meredith Expresses Bellef That Canada Will Prosper--Country Offers inducements to Immigrants Vastly Superior to Those of Other Countries. Sir Frederick WHilams-Taylor Points Out That Canada Must Put House in Order--People Must Insist on Government Practising Policy of Economy. The 107th anuedl general meeting) annual statement, said in part: -- of the Bank of Montreal was héld 'at the Head Office of the Bapk in of dl Ts 5 to twenty, the new positions, however, not being filled at the present meet- ing. 3 Sir Vincent Meredith, Presidént, in his address to shareboldets, said in part "Daring the past year con- _tinuéd confused world-wide condi- tions have been a deterrent to busi- ness generally, yet, despite relative dullness of trade and the heavy bur- den of tzxation imposed on financial fnstitutions. I am happy to bé able to say that we have earned our dividend and bonus." , Sir Vincent went on to say that he was satisfied that general conditions were improving, and he prophesied bright things from a business point of view in the future. He¢sald that the past year had shown a better de- mand for steel in various forms, es- pecially from railroads, that textile trades were gradually recovering from the slump, and that dealings in hides and leather have broadéned. Figures of Candda's Joreigd Sade, he arked, are encouraging. In the ne months prior to October 81st the aggregate value of this gom- 'merce was 5160,000,000 greater than in the preceding year. This, said Sir Vincent, was attributable in no small degree to the enormous grain crop of 4928. Flour products have always been the largest ¢ontribution to Can- ada's export trade, being greater than 'the combined value of all other com- modities. The other outstanding item in re spect of export trade is forest pro- ducts. In the seven months ending . October 31st shipments of wood and wood products, including paper, de- " elined in value about $18,000,000, ass compared with the previous year, this decrease occurring in lumber and not in paper. | A favorable trade balance is shown by the excess of exports over imports amo ating tn $120,000,000, as com- th an excess of only $15,000,- 000 in the corresponding period last A , Foreign competition, which for x time past had been anticipated, "4s now being keenly felt in several { basic . Canadian products in neutral "markets. '# Immigration has been disappoint 'ingly small, and without increase in _popuiatiod, increase in production 'will remain obstinately slow. The " belongs to other hands than but I am convinced the day is {stant wheh this favored land sf Canada will be sought by the sur- us population of Great Britain and hg pe, as well as by those thrifty 'lglasses who will here find oppor 'tunity for further improving their condition. A Word of Confidence. My last word is a word of confi- dence and emtouragement. The in- sts of your Bank are more close- 1 und up with those of Canada than evér before, and unless Canada prospers, the Bank cannot expect the ty it should enjoy. I believe wiil prosper. It offers in- ducements to immigrants vastly su- perior to those of other countries, which ape at present endeavoring to attract citizens. It stands third smongst the countries of the world in hatiiral resources. We possess half of the forest area of the British Em. : our mines produced in 1323 14,000,000 worth of metals, and surface is scarcely soratched. Can- ada stands second in the world in coal deposits. Her water powers are estimated at 18,000,000 power and she enjoys transportation facilities. with some capital and a willingness to work, the cheap, rich lands of horse unexocelled For those The increase in the number of de- positors in our Savings Department has been greater in the past two years than ever before. I should like to emphasize in connection with the growth of these deposits that this Bank's services are at the disposal of every ¢lass of the population, and that we welcome those who with a small deposit wish to open a savings acount. The acquisition of The Molsons Bank, subject to formal ratification by the shareholders, will add to our organization the business "their 125 branches. Of these, 11% are lo- cated in the Province of Qu and Ontarfo, and as the greater number are at points where we are not al- ready represented, the result will be a 'valuable addition to our represen- tation in these two provinces. We shall welcome the clientele of The Molsons Bank, and can assure them that in the Bank of Montreal they will find a service fully com- mensurate with their needs combined with the courtesy and attention which they have a right to expect. Although the wheat crop in Can- ada was this year less than for the season of 19283 by something. ap- proaching 200,000,000 bushels, for- tunately for the farmer the price has advanced to about $1.66 per bushel from about $1.00 last year, so that Canada's gross income from this staple product should be about the same. " The increase in the current income of thé farmers in areas which have yielded favorable crops has naturally béén reflected in improved financial aad business conditions in those dis- tricts. This Bank, with a large volume of loans in Western Canada, has con- tinued its tradition of fair dealing with its customers and has extended every assistance to those who have suffered repeated crop failures. We have followed a policy calculated to keep borrowers on the land, and con- sidering the large number of indivi- dual loans, those cases have been comparatively few in which through the action of the debtors we have been obliged to resort to law. Business Situation. ; My view, in brief, of the situatio is that business generally in Canada is .unsatisfactory, but with some bright spots. This expression of opinion may not be popular, but it seems to be much better to look the matter square in the face than to allow ourselves to be led astray by popular delusions. That general trade is dull, to put it mildly, is no delusion. Many of our industries are running. on half-time with dimished profits or no profits at all. 'Taxation is heavy to an extéent which discour- ages new enterprises. The cost of living is high and our population in point of numbers is at a standstill, or worse. These are the conditions as I see them, but I hope and believe we will emerge from our difficulties pres- ently. First and foremost I would say that there must be an end tp the Jhesent apathy about public airs. n my opinion, those who will aot go to the trouble to register their vote in municipal, provincial and féderal affairs should be penalized in some form for their indifference. We all know that apart from the cost and effects of the war Canada's troubles are the accumulated result of what may be termed in mild and temperate language imprudence in affairs. Good government is a hard prob- lem in any country. No government can move faster in these matters than public opinion will permit, and upon the people li¢s the responsibil of ity of voting for economy. and the need for immigration. Given these thrée things, I look for- ward with the. utmost confiden Canada's future. - ; sir Fradarick Wiliams for General Manager, a review of the We, in Canada, have much to be thankful for. If this were a poor our cage would be a bad one, Il but we have riches in our for ests, our fields, our fisheries, and in our minerdls, also in our mighty s wers, and in the industry d ambition of our people. havé a difficult situation on our ds, but let us not look back Ket together and, like a sane, bl Bd Jidustrions people, put phe vain or. us | sucking through the defile as throu, E358 1h "THE THIEF OF BAGDAD" BY ACHMED ABDULLAH "What?" interrupted the Prince |ed and thinned and disappeared com- with rising excitement. "You don't | pletely; was only a drab memory mean to say that it is really..." when at last he reached the caldron-- "Yes! I mean it! There is no doubt | and looked down--and shuddered. of it! It is the magic carpet! Stand on Around the rim of the caldron the it] Sit on it! Squat on it! Then tell | flames licked up like speckled, blotch- the rug where you wish to go! And-- | ed, luminous reptiles; like cobras with swish, swish, swish! like the shooting | dripping lips, stained crimson and scar of dragon-flies--it will rise into the | let by the blood of sacrifice; coiling air, it will cut through the sky, high about thé souls of the unjust men and up, above the roofs, above the clouds, | the fallen Angels, with the destroying and carry you wherever you command. | heat of their flaming bodies, cleansing Hai--ho--hee!" he laughed vindictive- | the sin-scabbed spirits as in a crucible; ly, triumphantly--'"for years it has| while smoke, blue, black, grey--the been in this bazar--for all the world's | sins of these souls released from the fools to spit on and wipe their feet on.| pure, spiritual matter--rolled on and And none knew! None knew!" up in gloomy, grotesque, sinister gar- "Thank you, thank you!" exclaimed | lands, Farther toward the centre of the the Prince, while the servants stowed | caldron the flames peaked a thousand away the magic carpet in the litter.| feet high in a supreme travail and "Name your reward!" martyrdom, melting the rocks here and "Don't thank me--yet!" sneered | there, bursting them asunder, so that Hakim Ali. "For, doubtless, you willl they tumbled down, loud-booming, win Zobeid with this rug." like the black crack" of doom. And "That is just why I am thauking| still the blaze jpared up, spread up, you!" twirled up, forked up; red-hearted, "That is just why you should not|blue-tipped, yellow-frayed; and ever thank me! Woman? By Allah! Has| and anon, when the black-winged An- it not been said that woman is an in-| gel of Death tossed another soul of flicter of grief in love as well as in| pride and injustice into the caldron, hate? Has it not been said: 'Among | there would come an immense shriék- the philosophers, the Chinese; among | ing and yelling, and the flames would the beasts, the fox; among the hirds,| shoot higher--ever higher. the jackdaw; among men, the barber;} Ahmed looked. He stared. How and in all the world woman--is the might he-'cross? "There seemed no most crafty?" Has it not been said,| way, except to swim across these furthermore: 'The beauty of the lark| flames as across a river. And again is in its song, good manners are the|temptation/ Touched him. He would re- beauty of an ugly man, forgiveness the | turn. He was too weak to face this (r- beauty of the devotee, and the beauty| deal, of woman is virtue--but where shall we find a + {uous woman?' Wah!" he rumbled on. "I have always consid- éred the female of the species a sort of Sale Of A Farm. walking, two-legged pest, whose mis- Kepler, Dec. 3.--The open fall sion on earth, like the mission of mos-| has enabled farmers to finish their quitoes"--here he flicked a mosquito | fall ploughing. Perey Potter sold away with his tail--"is only to'prevent| his farm recently to Mr. York, who our being too happy! No, no, my lord!| will take possession in the spring. Do not thank mel" Born to Mr. and Mrs. Willlam ot = . : . erly, on Dec. 1st, a fine baby boy, Aug the Hakim, shill Jaughizg dis. William Herbert. Mrs. John Wood agreeably, was carried away bY will entertain the Ladies' Aid this (To Be Coniinued.) slaves, while the Prince of Persia, re-| p00 on Miss Mabel Orsor has re- at Syracuse, N.Y. Recent visitors: Sydenham, at W, Orser's; Miss Lillie turned from spending a few days | Mrs. Young and daughter, Bdith,' Guess, Sydenham, at A. Townsend's; clining in his litter, left Shiraz. He was serene and happy. The end of the first moon--and already he had acquired the treasure wherewith to win the Princess' hand. Why--he thought --he was in no hurry to return to Bag- dad; would be able to stop for a cous ple of months at Kerman. For this was the season when the purple plums and purple melons of Kerman were ripe! Ah!--he smacked his fat lips-- a lamb, stuffed with nuts and ralsing and roasted whole; a heaped platter of plums; a bottle of golden Khaketian wine; and a melon--perhaps two mel- ons--as dessert]! Life was worth the living indeed! He fell asleep, while the little slave girl, curled at his feet, crooned a lilt- ing, lisping Alghan love son, and while the Mongol Prince's spy, who had wat- ched and listened, rode swiftly toward the North to make report to his master On hé rode; over the ragged, bitter crests of the mountains, across sudden valleys, flanking the dwarf dikes of poppy fields, on through the huge, grey flat of the upland desert that was seamed with~wide sheets of tufaceous gypsum shining like mirrors; on, evér hurrying, grudging the hours of rest spent in camp and towns by the way; galloping his shaggy pony ho matter how rough and steep the road; know- ing well that the Mongol Prince, while punishing cruelly those who disobey- ed, rewarded liberally those who ob- eyed and rendered fair service. And it was an ironic twisting of Fate that, without kriowing it, the spy ssed within a short distance of the ill of Eternal Fire, the Hill of Pride, where the Thief of Bagdad was fac- ing his second ordeal. This Hill--wrongly so called--was an enormous defile, cleft between tow: ering black walls, and in the centre of it a great, seething, rocklined caldron of flames, perhaps three miles across, fed by the pride of unjust men and fal- len Angels. Hard was the road up the defile to] the stepping of Ahmed's feet. Strongér and stronger, as he toiled upwards, lungs beating like a hammer, the heat from the caldron, as he approached i \ [nm A. «© § a chimney and scorching his face, grew the temptation to return, to give up this pilgrimage. Was Zobeid, his love for her and hér love for him, this terrible suffering of his flesh and his soul? Was anything under heaven rth it? ; "Return, O fool! Return!" whie Lee's. HIS MASTERS VOICE "His Master's Voice" Victrola Model 211-S -- $150.00 will accomodate radio receiving set. A New Model Victrola For a New Christmas An aristocrat of talking machines--Model 211-S. 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