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oh PAGE FOUR THE OSHAWA DAILY TIMES, THURSDAY, MAY 26, 1932 « The Oshawa Daily Times Succeeding . THE OSHAWA DAILY FEFORMER (Established 1871) ---- . An independent newspaper published every after. noun except Sundays and legal holidays at Osh- awa, Canada, by The Times Publishing Com- of Oshawa, Limited. Chas, M. Mundy, ent, A. B. Alloway, Managing Director. The Oshawa Daily Times is a member ot Ihe Canadian Press, the Canadian Dally News. per Association, the Ontario Provincial lies and the Audit reat of Circulations. SUBSCRIPTION RATES Delivered by carrier fn Oshawa and suburbs, 13¢ a week. By mall in Canada (outside Osb- awa earrier delivery limits) $3.00 a 7ear. United States $4.00 a year, TORONTO OFFICE 7 18 Bond Building, 66 Temperance Street. Tele Ad phone Adelaide 0107. H. D, Tresidder, repre- sentative. THURSDAY, MAT 26th, 1932. A Wonderful Performance Those cifizens of Oshawa who were privileged to hear the choral concert given by the Oshawa Choral Society last night could not help but be impressed by the ex- cellence of the performance of this Osh- awa community chorus. The performance was amazingly good for a chorus selected from the various church choirs of the city and trained in rehearsals extending only for a little more than two months. One could recognize that a master hand had been at work in the training of these sing- ers, and Dr. Fricker is to be warmly con- gratulated on the splendid results he has obtained with the material at his disposal. This initial presentation by the Oshawa Choral Society should ensure the perpetua- tion of the organization. It has proven itself worth while from a musical and ar- * tistic standpoint, and it would be unfortun- ate should it not be continued as a per- manent Oshawa institution. As we have said, the society was fortunate is being able to induce Dr, Fricker to take the leadership of the choir, and we should add that the citizens whose generosity made this possible deserve the thanks of the community. It is to be hoped that this sup- port will be continued in future years, and that by next season the choit will be- come much larger and give Dr. Fricker even greater scope for his genius, Mean- while, we feel that the congratulations of the community should go out to those citi- zens who made last night's wonderful per- I formance possible. Worthy of a Welcome Announcement is made today that the Royal Canadian Yacht Club, with the five divisions of its fleet, is to hold one of its championship cruising races from Toronto to the Oshawa harbor on Saturday, June 18. An event of this kind holds much in- terest for Oshawa. So far, the harbor has been used almost exclusively for commer- cial traffic, and this will be the first at- tempt to use it for a fleet of yachts such as have made the name of the R.C.Y.C. famous all along the shores of the Great Takes. An event of this kind is worthy of recognition. Yachting has given consider- able publicity of a favorable character to many of the towns and cities along the Great Lakes, both in Canada and the United States. Places like Kingston, Co- bourg, Rochester, Port Dalhousie, Water- town, and Lockport have become famous as centres of yachting, and there is no reason why Oshawa should not aspire to the same greatness. Men who indulge in yacht racing are usually men of substance, and, looking at it from the materialistic viewpoint of cold business, there are bene- fits to be derived from making Oshawa a centre of yacht racing. As we have intimated, an event of this kind is worthy of recognition. When the first steamer entered the harbor, there "was a great celebration. There should be _ something of the same kind when the first fleet of yachts enters the harbor. This is a matter in which the Chamber of Com- "merce might well take the leadership. It not necessary that any great amount "of money be expended on an occasion of this kind. But steps should be taken to form a committee of interested parties to at least see that a fitting welcome and "reception are given to the yachtsmen who e coming here to place Oshawa on the acht-racing 'map for the first time. Empire Day and the New Canadians . There was a special significance to at ast one of the ceremonies held in Osh- wa in connection with the observance of impire day by the children in the local schools. This was the ceremony held in wan Park, for the children of the South Simcoe Street and Ritson Road Schools. n these two schools, a very large propor- lion of the pupils are New Canadians, hildren of parents of various European nationalities. At the ceremony in Cowan Park, there was an impressive observance éof the spirit of Empire Day, with the hildren taking the oath of allegiance to Majesty King George and saluting the A 'ceremony of 'this kind means much thful minds. Here we have a group five hundred children, assembled in the heart of what might, for want of a better term, be called the foreign popula- tion district, being given instruction in the fundamentals of British patriotism. These children, at least half of them sprung from other races, were being taught to love and to reverence the British flag, and to have loyalty and devotion to the British crown, under which they are now living. It is a pity that ceremonies of this kind are held publicly only on Empire Day. Where there is a large population of New Canadians, they might, with profit, be held much more often. To Britishers, who have been born and have lived all their lives under the British flag, they may not mean a great deal. But to children whose parents have lived under other flags, who have been brought up with different ideals and traditions, there is something essenti- ally worth while in training them, in child- hood, in the principles of British freedom and justice, in teaching them what the British flag stands for, and what their responsibilities will be in future years as citizens of the British Empire. Editorial Notes We are glad to note that the city coun- cil relief committee is to take steps to re- move cause for complaint about the relief store. That is necessary in order to re- establish confidence in the scheme, What is really needed, however, is the complete co-ordination of all relief work, civic and voluntary, under one body, whether that be the Associated Welfare Societies or something of a similar char- acter, but with more extensive powers. The tourist season is now opening. Is Oshawa ready to take full advantage of its business possibilities ? : It is interesting to note that the retail merchants association is considering the possibility of establishing a farmers' mar- ket in Oshawa. It has always been thought that most of the opposition to this.came from certain lines of retail merchants. Britain has made a new agreement with the United States regarding the postponed payments of war debts. But at the same time she is hoping that the whole debt will be cancelled at an early date. Oshawa is to be complimented on the fact that the holiday here was free from both automobile and drowning accidents. Other Editer's Comments THE MENACE OF SLEEPY DRIVERS . (Toronto Daily Star) The special committee which recently issued a report on Tofonto taxicabs recommended that no owner be permitted to work his drivers more than twelve hours per day, "the said twelve hours to be performed within fifteen consecutive hours." Cabs driven by sleepy or over-tired men are rightly re- garded as a menace. "Trucks, similarly driven, are one of the perils of the highways. Attention has been drawn to these by the dis- cussion of steam railway problems which has re- cently taken place in the press. The railways have urged that they are entitled to protection from the competition of rubber-tired vehicles whose drivers are not hound by the strict requirements of public safety which apply to their own employees. Cases have recently come to light in whieh a driver went into the ditch after working twenty-five hours with- out sleep, and in which another driver worked ninety-six hours in six days for $24.50. Trucks coming into Toronto leave their destination at 5 a.m, the driver spends his day delivering and pick- ing up freight, and does not get back until 10 or 11 p.m. This goes on for six days a week. An organization of automotive employees has heen trying to improve these conditions, and mems- bers complain that they are now being asked by certain employers to sign a promise that they will not join any association with regulatory objects. It is not a reasonable requirement. Public safety, as well as the safety of the drivers themselves, demands Jessonable regulation in the amtter of hours of abor, BITS OF HUMOR The class were determined not to make any mistake. All went well until the inspector ques. tioned Jimmie. "Now my lad, he said, "what's the plural of mouse?' "Mice," replied ' Jimmie. "Right," said the inspector. "And now tell me what's the plural of baby?" "Twins", answered Jimmie, ! Here is an instance of the difficulty the unedu- cated negro has in saying what he means directly, A man ordered eggs for breakfast in a hotel in the States. "Boss," said the colored waiter, "mebbe you bet- ter tak' somethin' else. I would not caer to recker~ mend de aigs dis mornin'." "Why not?" asked the white man "Aren't they fresh?" "TI don't know ef dey is or ef dey ain't, "cause to tell you de truff we ain't got none," was the as- tounding reply. Small Boy (to landlord who has cafled for long overdue rent)--"Please sir, mother says will you call on Sunday morning?" 4 Landlord -- "Sunday morning. Why on Sun- ay?" ' Small boy -- night." "Cos we're movin' on Saturday BITS OF VERSE IF ROCKING-CHAIRS STOP In amber stormlight creaks a rocking-chair That beats upon the midnight floor; and there Its scratching noise fills silence of a room Where toys still strew the floor with broken gloom, Dust being where the hands of children were, , . 4 Despais has squeezed and wedged her bones; it's said. . She froze till something snapped inside her head; Her mangled thoughts misuse her hands, her pain Now tangles in her hair, eyes, clothes . . ., She's is insane'-- 3 Whe would not he that cannot leave the dead? --Isobel Stone, in the Poetry World, ee BANK OF MONTREAL REPORT SHOVS GREAT STRENGTH Surplus of Assets Over Lia- bilities Is Now in Excess of $76,000,000 The semi-annual statement of the Bank of Montreal, as of Ap- ril 30th, makes a very strong ex- hibit. The outstanding features are represented by an increase in the holdings of gilt-edged securi- ties, a gain in liquid assets to an amount equal to 57.34 per cent. of liabilities to the public--evi- dence that the bank is in a posi- tion to meet amy increase in the requirements of its many cus- tomers, The statement, in easily under- standable form, appears else- where in this issue and affords an opportunity of obtaining =a comprehensive view of the Bank's strong position, Total assets are reported at $748,612,481, compared with $786,897,706 a year ago. Of this amount quickly available, or lig- uld assets are $385,483,225, In- cluded among these liquid assets fs cash in vaults and in Central Gold Reserve amounting to $78,- 491,119, equal to 11.67% of pub- lie liabilities. Increase in Bond Holdings The most important change in liquid assets js represented by an increase in government and oth- er bonds and debentures to a to- tal of $228,901,146. These are recognized . as gilt-edged securi- ties, the greater portion of which mature at early dates. Included among them are Dominion and Provincial government securities of a value of $174,730,246, up from $149.229.626 a year Call loans outside of Canada $20,262,324 and are secured hy bonds, stocks, and other able securities of greater than the loans and represent moneys quickly available out any disturbing effect on con- ditions in Canada. by bonds and stocks value at current quotations than the loans stand at $5,645.610, as compared with $11,347,457 at the same date last year The total of current made to manufacturers, far merchants and others, is reported at $336,572.088, Deposits liave held up remark- ably well under prevalling con- loans ners, ditions, Total deposits are re- ported at $626,701,081, Total assets of $748,612,481 are available to meet payment of liabilities to the public of $672,- 310,882, which leaves an excess of assets over these liabilities of $76,301,599. Profit and Loss Account The profits for the six months amounted to $2,589,292,70 as compared with $2,771,753.71 for the corresponding period last year. The profits were distributed as follows: dividends, $2,160,- 000.00; provision for taxes Do- minion Government, $228,316.28, and reservation for hank prem- ises, $100,000.00, leaving a bal- ance of $100,976.42. This when added to the balance carried for- ward at the end of the fiscal year brought the total at the eredit of profit and loss to $1,204,403.37. . \ ol Strain py C. H. Tusk, Opt. | | (Copyright, 1038) SIGNIFICANCE OF OCULAR SYMPTOMS Part "22" The many changed conditions of our modern . life impose a heavy handicap upon our eye- sight. In the home, in the office, in the factory, in the aulo, at the at school, at work or at close application, artificial light movement every- where, speed, glare, flicker--al- ways eyes at tension, None bu the most perfect eyes can stand up against so much ws movies, play---always | are ago. | | negoti- | value | | | longer focus comfortably at close with- | | the Call loans in Canada secured | zreater | of gre ri zatier | efent. punishment--and how few ayes perfect! KEven the perfect ones are not so for long. After middle life these perfect eyes must also have the assistance of lasses because they can no range, Are you surprised that your eyes need help? You know that slow moving machines can wobble. along and still hang to- but the high speed ma- chines will®soon pound itself to if there ig the slightest The eyes today are like pieces defect, | the high speed machine and must have their defects corrected if they are to survive and be effi- It ig possible to put the eves at ease. We are doing it | for others and can do it for you. 1853. better for your. children. good enough | Christie's Arrowroots Your Mother's Mother gave her children "Christie's" Arrowroots,Canada'soriginal Arrowroot Biscuits, baked in Canada by Christie's since There is nothing "TAKE CHANCES" LTR (VR:0) 6 West 43 King Street rr ------ Sold in Oshawa E. V. LANDER Phone 58 4 JOHN A. CURRY, EDITOR OF THE DOUGLAS (ARIZONA) DISPATCH, SAYS: "Did you ever stop to think that whoever stops thinking will rust out and not wear out? But his fate is not as sad as the business man who cajoles himself into be- lieving he can live without keep- ing in his operating budget a leg- itimate and proper percentage al- lowance for his advertising ex- pense. "Successful advertising is not the intermittent kind that comes omce in a season. It is the sort that keeps the firm's name constantly before the eye of the buyer and grooves it as a reliable source for a particular need. Dr. Coue pull- ed that pleasant bit of advertis- A thorough examination is good eye insurance. If you do not need glasses you will be advised. If you do need them you cannot afford to delay. (To be Continued) ing, 'Day by day, in every way, I grow better and better! It wasn't worth a darn as a cathartic, but it flushed out the mind of the mentally ill and helped them to relieve themselves of their psy- chic ailment, "Now a grocer or drygoods or other merchant wants exactly the same policy. He wants to impress the buying public that 'day by day in every way, we have profit- able and attractive bargains for the consumer in our line." It can't be dome by haphazard effort, It must be by organized, consistent, carefully edited, specially pre- pared advertising. If merchants will present their cause upon that basis, the newspaper, the 'carrying agency' for their adver- tisement will do the rest. '"Advertising is not guess work. It is not something that cam be thrown together on the slap- stick plan. But advertising, well ordered and presented with a continuity that causeg the firm's name to become a fixture in as- sociation with his line of goods is a golden imvesthent that outsells high-powered salesmen, BE- CAUSE IT GETS THE BUYER INTO THE PRESENCE OF THE SALESMAN, WITHOUT WITH- OUT WHICH HE WOULD BE MERELY IN THE CLASS OF THE AVERAGE RYBBON COUN- TER CLERK." Auntie: "Well, John, and how do you like your new baby bro- : CENTRAL IPAN AND SAVINGS "KING AND VICTORIA 8TS., TORONTO PROVIDE for your future-- Build a. Savings Account CANADA 23 SIMCOE ST. N,, OSHAWA ESTABLISHED 1884 ther Four-year-old John; "Asleep." Deposits . Payable on demand. Bills Payable . Other Liabilities Total Liabilities early Stocks « Other Loans To fa A Items which do not. come under the Total Liabilities to the Public . . . LIABILITIES TO THE SHAREHOLDERS Capital, Surplus and Undivided Profits Reserves for Dividends . . . . . This amount represents the shareholders' interest in the Bank, over which liabilities to the public take precedence. value than the loans 'and representing moneys quickly avai no disturbing effect on conditions in Canada, Call Loans in Canada . . . . . Payable on demand and secured by bonds and stocks of greater value at current quotations than the loans. Bankers' Acceptances . : >. Prime drafts accepted by other banks. TOTAL OF QUICKLY AVAILABLE RESOURCES (equal to 57.34%, of all Liabilities to the Public) Establiibed 1817 of the Bank's LIABILITIES LIABILITIES TO THE PUBLIC Payable on demand and after notice. Notes of the Bank in Circulation . Drafts issued and outstanding. Letters of Credit Outstanding « 'wise Financial responsibilities undertaken on behalf of customers for com- mercial transactions (see offsetting amount [x] in "Resources"). foregoing headings. RESOURCES To mect the foregoing Liabilities the Bank has Cash in its Vaults and in the Central Gold Reserves Notes of and Cheques on Other Banks « + Payable in cash on presentation. Money on Deposit with Other Banks Available on demand or at short notice. Government & Other Bonds and Debentures Gilvsdse Seam the greater portion of which matures at Ss. Railway and Industrial and other stocks. Call Loans outside of Canada . . oe Secured by bonds, stocks and other negotiable securities oF, ater with and others, on conditions con- Bank Premi and appear on the Aandi realized upon. farmers, sistent with sound banking. . . . . . . . Three properties only are carried in the names of holding companies; med gn wl Git cried in he varies of Seiding companies at $1.00 in each case. All other of the Bank's premises, the value of which largely exceeds $14,500,000, ap- pear under this heading. Real Estate and Mortgages on Real Estate . in the course of the Bank's business and in process of being x Customers' Liability under Letters of Credit . . on account of Letters of Credit issued Rep liabilities of by the Bank for their account. Other Assets not included in the Foregoing « Making Total Assets of . . o 9 to meet payment of Liabilities to the Public of leaving an excess of Assets over Liabilities to the Public of § 76,301,599.13 PROFIT and LOSS ACCOUNT Peofits for the half year ending 30th April, 1932 « «a Dividends paid or payable to Shareholders Provision for Taxes, Dominion Government R ion for Bank Premises . . . BANK OF MONTREAL eA presentation, in easily understandable form, SEMI-ANNUAL STATEMENT 30th April, 1932 L . - 672,310,882.08 i #$2,160,000.00 228,316.28 100,000.00 $385,483,225.66 $626,701,081.70 35,143,569.00 243,816.18 8,478,952.18 1,743,463.02 $672,310,882.08 76,301,599.13 $748,612,481.21 5] 78,491,119.01 23,808,742.70 27,639,150.51 228,901,146.79 601,473.59 20,262,324.55 5,645,610.62 133,657.89 336,572,388.88 14,500,000.00 1,775,736.03 8,478,952.18 1,802,178.46 $748,612,481.21 $2,580,202.70 2,488,316.28 Balance of Profit and Loss Account, 31st October, 1931 Balance of Profit and Loss carried forward + + 4 x ® ow é The strength of a bank is determined by its history, its policy, its management and the extent of its resources. For 114 years the Bank of Montreal has been in the forefront of Canadian finance. $ 100,97642 1,103,426.0% #1 Sd ; 74 \