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x ~ ion of Canada 1931 Cg - ~ of maturity in each case. ~~ Conversion Loan Official announcement was made this week of the terms of the Domin- Jonversion Loan. This issue extends the o] ty to holders of Dominion of Canada War Loan and Victory Bonds now ap- proaching maturity to convert their holdings into bonds extending over a further period of from 15 to 25 years, 'and marks what may eventually prove to be the greatest financial operation in the history o nada---the refund- ing of the heavy volume of financial obligations incurred during the War period. The offer does not involve the raisifig of any new money. Not a penny will be added to the national debt of Canada in consequence of the 1931 Conversion Loan. It is entirely a matter of exchanging existing bonds for other bonds of the Dominion. A total of more than one billion dollars of bonds reaches maturity within the next 314 years. This total is made up of about $52,900,000 War Loan 65% Bonds due October 1, 1931; $73,300,- 000 Renewal Loan 5%% Bonds due November 1, 1932; $446,600,000 Vic- tory Loan 5% % Bonds due November 1, 1933; and $512,000,000 Victory Loan 5%% Bonds due November 1, 1934. Holders of bonds of these issues are being given the opportunity of continuing their investment over a longer term in the direct obligations of the Dominion Government. They will not lose anything in the way of interest payments or income tax ex- emption by exchanging for bonds of the 1931 Conversion Loan. It is ex- plaining that the new bonds will carry coupons entitling holders to receive up to the date of maturity of their old bonds, the same interest payments and tax free privileges as they would enjoy if they held their War Loan or Victory Bonds until the actual date For the re- mainder of the term of the 1931 Con- version Loan Bohds, they will carry interest at the rate of 4% % per an- num, which in the opinion of leading investment bankers, is a comparative- ly generous return in view of the in- terest rates now prevailing in the London and New York markets. Conversion applications are now being invited up to a total of $250,- 000,000 of the new bonds. It is an- nounced, however, that the Minister of Finance reserves the right to in- crease or decrease this amount, in his discretion. Subscription lists will open today and will close on or before the 23rd of May, as may be decided by the Government. Holders of the War Loan 5% Bonds maturing 1st of October, 1931, may exchange their bonds for Dominion 'of Canada 1931 Conversion Loan Bonds maturing November 1, 1956. The new bonds will not be subject to re- demption before November 1, 1946, but from that date until maturity they may be called by the Government on any interestsdate on 60 days' notice, at 100 and accrued interest. The first coupons on these bonds will be for six months' tax free interest at 5% per annum, payable October 1, 1931; the pecond coupon will be for seven months' interest at 4% % per annum, payable May 1, 1932. All other coupons will carry interest at the rate of 4%% per annum payable half- yearly on the 1st of May and the 1st of November. Holders of the Renewal Loan 5% % Bonds maturing 1st of November, 1932, may exchange their bonds for Dominion of Canada 1931 Conversion Loan Bonds, maturing November 1st, 1957. The latter issue cannot be re- tired before November 1, 1947, but after that date it may be redeemed by the Government on any interest date on 60 days' notice at 100 and accrued interest. The new bonds will carry regular coupons covering interest. at the rate of 4% % per annum payable half-yearly on the 1st of May and the 1st of November. Inaddition to the regular coupons, these bonds will carry three adjustment coupons pay- able, respectively, on the 1st of No- vember 1931, the 1st of May 1932, and the 1st of November 1932, for addi- tional interest at the rate of 1% per annum. Holders of the Victory Loan 6%% Bonds maturing the 1st of November . 1933 are being offered the opportunity to exchange their bonds for Dominion of Canada 1931 Conversion Loan Bonds maturing November 1st, 1958, These new bonds will carry interest at the rate of 4% % per annum from - May 1st, 1931, payable half-yearly on May 1st and November 1st. The first _ five interest coupons--that is, those due to be paid each six months up to November 1, 1938, will be tax free. In addition to the regular coupons, these bonds will carry five tax free adjustment coupons for additional in- payable, respectively, November 1, 1931, May 1, 1932, November 1, 1932, May 1, 1933; and November 1, 1933. The Conversion Loan Bonds maturing in 1958 will not be subject to redemp- tion before November 1, 1948, but on or after that date they may be called at the option of the Government on any interest date on 60 days' notice at 100 and accrued interest. Holders of the Victory Loan 5% % Bonds maturing 1st November, 1934, are being offered the opportunity to exchange their bonds for bonds of the Dominion of Canada 1931 Conversion Loan maturing November 1, 1959, which will carry coupons entitling the owner to interest at the rate of 4% % per annum, payable half-yearly May 1 and November 1, commencing May 1, 1931. In addition to the regular coupons these bonds will carry seven | adjustment coupons for further inter- est at the rate of 1% per annum. The Conversion Loan Bonds due November 1, 1959 will not be redeemable before November 1st, 1949, but after that date they may be redeemed by the Government on any interest date on 60 days' notice, at 100 and accrued interest. The issue of bonds of the 1931 Con- version Loan is authorized by Act of Parliament, which provides that both principal and interest on all of the bonds is to be a charge on the con- solidated revenue funds of Canada. Principal and interest on the new bonds will be payable without charge in lawful money of Canada at the office of the Minister of Finance and Receiver General at Ottawa, or at the office of the Assistant Receiver Gen- eral at Halifax, Saint John, Charlotte- town, Montreal, Toronto, Winnipeg, Regina, Calgary, or Victoria. Interest coupons will be payable without charge as they fall due at any branch in Canada of any of the Chartered Banks. The Department of Finance an- nounces that interim certificates in bearer form will be delivered in the first instance in exchange for all War Loan and Victory Bonds accepted for conversion. The interim certificates will be exchangeable at a later date for engraved definitive bonds. The Finance Department expects that the definitive bonds will be ready on or about the 15th of August 1931. When the definitive bonds are ready it will be possible for holders to obtain delivery of coupon bonds in bearer form or of coupon bonds registrable as to «principal. These bonds will be issued in denominations of $100, $500 and $1000. Fully regi- stered bonds, on which the interest will be paid direct to the owner by tainable in denominations of $500, $1000, $5000, $10,000 and $100,000. Applications' to convert bonds will be received and receipts issued by any branch in Canada of any Chartered Bank and by recognized Canadian Bond Dealers and Stock Brokers, from whom application forms and copies of the prospectus containing complete de- tails of the new bonds may be ob- tained. They will arrange for the conversion of bonds without expense to bondholders. The Census (Continued from page one) in consultation with Dominion and Provincial Agricultural Departments and other leading agricultural author- ites, and in the light of the sugges- tions made for a World Census of Agriculture by the International Institute of Agriculture. It will elicit a wealth of information on such fea- buildings, implements, crops, ferti- lizers, farm labour, orchards, small fruits, farm gardens, live stock, poultry, animal products, forest prod- ucts, land tenure, irrigation, drainage, cooperative marketing, farm mort- gages, etc, ete. The schedule on animals, etc., in towns is supplement: ary to the agricultural schedule; there are of course a considerable number of horses, cattle, poultry, bees, etc., within urban limits and their products, and those of market gardens, town orchards, etc., are in aggregate im- portant. The schedule on industfial and business concerns collects only the name, address and class of each; 'this is for the use of a subsequent detailed inquiry which will be con- ducted through correspondence by the | Bureau, and which will afford a con- siderable body of new data covering the whole field of distribution. The record of the blind and of deaf-mutes is to facilitate the work of educational Land other institutions . for these classes. The population in institutions will be enumerated in the regular way by means of the Population schedule, but it is intended that a special in- quiry shall be handled direct from the 'Bureau with the heads of institutions terest at the rate of 1% per annum, in order that not merely the numbers RR Government cheque, will also ba ob-|« tures as farm acreages, land values, | NN of men, women and children commit- ted to such institutions may be ob- tained, but also facts regarding the characteristics of the inmates, causes of commitment and other information which will furnish the basis for a com- plete analysis of problems incidental to social life, and act as a guide to the Provincial Governments and or- ganizations engaged In social and wel- fare work. PORT PERRY, ONTARIO, THURSDAY, MAY 14th, 1931 In connection with these somewhat \ . AN OPPORTUNITY TO HOLDERS OF EARLY MATURING CANADIAN GOVERNMENT BONDS ~TO EXTEND THE TERM OF THEIR INVESTMENT IN THE PREMIER SECURITY IN CANADA GOVERNMENT OF THE DOMINION OF CANADA 1931 CONVERSION LOAN The Minister of Finance of the Dominion of Canada offers to holders of the undernoted Dominion isswes the privilege of exchanging their bonds into longer dated issues, in the following terms and under the following conditions: This offer affords to holders of bonds eligible for conversion, the same interest payment and tax-free privileges, for the life of and as contained in the present bonds, and the opportunity of extending the term of the investment at 41% per annum. WAR LOAN 59% BONDS MATURING 1st OCTO- BER, 1931--Holders of these bonds have the privilege of exchanging into bonds maturing 1st November, 1956, bearing interest 1931. The first coupon will be for six months' tax-free interest at the rate of 5%, per annum pay- able 1st October, 1931; the second coupon will be for seven mdnths' interest at the rate of 4 15%, per annum payable 1st May, 1932; thereafter to maturity interest will be payable half-yearly at 434% per annum. RENEWAL LOAN 55% BONDS MATURING 1st NOVEMBER, 1932--Holders of these bonds have the privilege of exchanging into bonds ma- turing 1st November, 1957, bearing 4 34 % interest payable half-yearly from 1st May, 1931. There to these bonds three adjustment-coupons payable respectively on 1st November, 1931, and 1st May and November, 1932, for additional interest at the rate of 19, will also be attached per annum, 1st NOVEMBER, from 1st April, VICTORY LOAN 53% BONDS MATURING 1933--Holders of these bonds' have the privilege of exchanging into bonds maturing 1st November, 1958, bearing 43% interest payable half-yearly from 1st May, 1931: The first five interest coupons, being those to and including 1st November, 1933, will be tax-free There will also be attached to these bonds five tax-free adjustment-coupons payable respectively on 1st November, 1931, and 1st May and Novem- ber, 1932 and 1933, for additional interest at the rate of 1% per annum. VICTORY LOAN 59%, BONDS MATURING 1s NOVEMBER, 1934--Holders of these bonds have the privilege of exchanging into bonds maturing 1st November, 1959, bearing 4 34 %, interest pay- able half-yearly from 1st May, 1931, There will also be attached to these bonds seven adjustmeat-cou- pons payable respectively on 1st November, 1981, and 1st May and November, 1932, 1938 and 1934, for additional interest at the rate of 1%, per annum, Conversion applications in the terms of the foregoing are Mmvited to a total of $250,000,000. The Meister of Finance reserves, however, the right to increase or decrease this amount at bis discretion. Subscriptions will be received and receipts issued by any branch in Canada of any Chartered Banh and by recognized Canadian Bond Dealers and Stock Brokers, from whom may be obtained application Jorms and copies of the official prospectus containing complete details of the loan. Appl cations will not be valid on forms other than those printed by the King's Priuten The subscription lists to the foregoing will open on 11th May, 1931, and will close on or before 23nd May, 1983, at the discretion of the Minister of Finance. DEPARTMENT OF FINANCE, 2, Ottawa, 11th May, 1931, sy elaborate and searching series of in- quiries the following points should be clearly understood: (1) that mo ques- tion Ras been inserted merely for the gratification of curiosity; (2) that the answers given by the individual are absolutely confidential, every em- ployee of the Census being under oath and penalty against revealing any in- dividual item, and the Bureau of Statistics itself being forbidden to: issue any statement that would lay bare any personal matter. In planning the field work, the country is first divided into "census districts", each of which is in charge of a "census commissioner." The dis- tricts are then divided into "subdis- tricts," varying in population from 600 to 800 in rural localities, and from 1000 to 1800 in urban. The subdis- trict is allotted to a "census enume- rator" who conducts the house to house and farm to farm canvas, and who is the only census official with whom the public comes directly in contact. It is expected that from two to five weeks will complete the field work. An appeal to the people is there- fore made to assist in this great na- tional undertaking by furnishing the information fully and accurately and thus helping to render the census worthy of the Dominion and of the serious purpose which it has in view. | The above is part of a pamphlet prepared by the Dominion Statistician with the authority of the Minister of | Trade and Commerce. AP Er ey An TTR di ¢ H ~ Caller--What a cosy little breakfast room--and the walls so artistically splatterdashed. Mrs. Depew--VYes, this is where ! George eats his grapefruit. :