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PAGETWO THE OSHAWA DAILY TIMES, TUESDAY, NOVEMBER 8, 1932 Canadian Business Leaders "Hold Out Optimistic Hopes For Early Business Betterment "The task that confronts the country now is to attain-a fully balanced budget as quickly as possible and in that task: the co- operation and support of the Canadian people will be requir- ed," says Hon. E; N. Rhodes, minister of finance, in the course of a message contributed to the silver anniversary number of The Financial Post, published this week. Mr. Rhodes continues: "rhe decline in interest rate of high grade securities points to the probability of the Dominion being able to reduce the burden of debt charges, while better sen- timent in trade and industry holds out the expectation that an improvement in revenues should not be far distant." "Fearless and fair criticism" of government as of corporations, institutions and individuals was never more urgent than at the present time, in the opinion of Sir Herbert S.' Holt, - president, Royal Bank of Canada, who, in one of the few statements he has ever made for publication, refers to "the burden of our numerous and enormous taxes, caused largely by the excessive cost of running far too numerous gov- ernments, which should be re- duced and made more efficient." Adjusting Costs "Our people are realizing that extravagance means national bankruptcy, and our business in- stitutions and producers are ad- justing their costs to changed conditions," says E. W. Beatty, chairman and president, Cana- dian Pacific Railway, who adds: "Canada's most serious threat to national solvency, the railway situation, is receiving the consid- eration it demands. If prejudices and unsound economic theories can be laid aside it is possible that a measure of amelioration of this grave peril may be ef- tected, That public attention is directed toward the matter is another . constructive factor and an evidence that the country is seeking to live within its means." . Discussing the railway situa- tion, Hon. Dr. R. J. Manion, min- jster of railways and canals, says: "I am happy to say that the foundations have been laid for the solution of the transportation problem, those foundations con- sisting in the sane, wise, and gourageous economies instituted during the past eighteen months." Messages from 67 leaders of business and finance are publish- ed by The Financial Post in its pirthday supplement, from some of which brief extracts follow: Signs Of Times Sir Thomas White, former minister of finance: "I think that we may look forward with some tidence .to a gradual improve- ment in conditions. One of the Best signs of the times is the market rise in the price of high grade bonds, In past depressions 'this development has always been forerunner of revival of en- prise. Another hopeful sign is feplacement buying of commodi- ties, wearing apparel and articles of domestic use. "J Ross H. McMaster, president, Steel Company of Canada: "We will not emerge from our diffi- ¢iflties through the application of political mostrums or the doe- trines of Coue. This will require _eo-operation, sacrifice, the gen- eral re-establishment of thrift, and good leadership." Rt. Hon. Arthur Meighen: "A fealization that no nation can live unto itself alone and that a spirit of international economic co-operation willl usher in a re- turn to more normal business conditions is steadily gaining ground." . On Uphill Climb . 8. J. Hungerford, acting presi- dent Canadian National Rail- ways: 'Canadian business shows signs of having started on the uphill climb and, though our pro- gress may be slow at first, it will be none the less certain." Col. G. G. Mitchell, president Toronto Stock Exchange: "It Is ny conviction that your paper is. at this time, plotting out on the graph of the Domrinion's records the signs of a return to better times." -- :L. G, Beaubien, president ntreal Stock Exchange: ults 'attained at the Imperial ference' are both a direction ind ah 'encouragement. In co- operating resolutely in the man- > suggested by the statesmen the pire by close collabora- tion between the different British possessions, we shall find the most profitable solution for the problems which face us." Encouraging Factors ©" 'Julian C. Smith, vice-president and managing director Shawini- "The. gan Water & Power Co.: "Many factors in the business world have shown signs of improve- ment and with continued courage and better co-operation I am sure that conditions will soon show the result of these efforts." W. C. Coulter, president Can- adian Manufacturers' Associa- tion: "During the last three years, Canadians have been work- ing together with better under- standing and results than at any other period in our history, "If we continue to study &nd deal with national, provincial and municipal: problems in this way, we shall get through our present difficulties." Beaudry Leman, general manager La Banque Canadienne Nationale: "The twenty-fifth anniversary of The Financial Post recalls the com ditions prevailing a quarter of a century ago, and invites compari- sons. "This relatively history of the Dominion, which no less than three depres- sions occurred, witnessed a great development in every branch production, trade and finance. Such an achievement shows in its true perspective the evolution of Cana- da, whatever the temporary setbacks may have been." short period in during ol Restoring Confidence Lt.-Col. J. G, Weir, president In- vestment Bankers' Association of Canada: "Improvement in the bond market, which has been. gradual but quite marked during the past year and which is once more evidenced by the successful flotation of a new Dominion loan, js doing much to re- store confidence which is so essen- tial in these times and this finan- cial improvement undoubtedly will be followed by a gradual business improvement." Frank A. Rolph, president, Im- perial Bank of Canada: "If 1 have any message for business men at this time, it is not to sigh for or await the return of conditions that are past, but to adjust themselves as soon as possible to conditions as they are and build anew from that base." F. H. Deacon, Toronto stock- think all the Canadian giants in pol- itics and business are dead. Canada has many industrialists and finan- ciers, middle aged or younger, who have shown intense earnestness, courage and clear vision during ex- tremely difficult days Courage Inspiring Jules Bache, New York financier, age shown by the financial and com- mercial leaders of Canada during this world depression is a cause of admiration and an inspiring exam- ple to. other nations, all of whom have participated in this great ca- tastrophe." S. J. Moore, president, Bank of Nova "The Domi made great progress during quarter century, but the next twer ty-five years will be even more portant in its influence upon destinies of the nation," Morris W. Wilson, vice-g dent and general manager Re Bank of Canada: "Where a popula- tion of six million people made a reasonable living with export amounting to $25,000,000 in 1907, it is not difficult to believe that a pop- ulation of ten millions can make ends meet with exports fifteen times as great" C.-L. Simpson Co.: hold of better times. tural products which will likely to our gross spending power over £1,500,000,000 and industries which will add a substantial net sum to our wealth, our national net posi- tion is probably two billions better than a year ago." J. P. Bickell, president McIntyre Poreupine Mines: "Gold remains the unquestioned standard of value and our continued production of that metal affords a sure and cer- tain foundation for our industrial and commercial future." Wallace R. Campbell, vice-presi- dent Ford Motor Co. of Canada: has nion Scotia: Burton, president, Robt Jetween na- 1 add "Now that the darkness of depres- sion is ending and the dawn of bet- ter days is at hand, our nation will emerge greater than ever before, in first rank among the peoples of the earth." R. C. Stanley, president Interna- tional Nickel Co.: "The past twenty- five years have scen Canada en- trench herself." C. O. Stillman, president Imperial Oil: "It is difficult. in times like these to find any sound basis for predictions of what the future holds in store. However in the records of alternate periods of expansion and recession, it seems.to me we have promise that constructive o£ ¥ = | REM end | oe er te #2 Canadian | Paelfic To Keep Fresh EMBRANCE DAY Reduced Fares Nov. 10-14 This year the Canadian railways are offering special low fares between all points in Canada over Armistice week- ; that you may renew old acquaint. anceships or visit the shrines of memory. SINGLE FARE'AND ONE-QUARTER : FOR ROUND TRIP Return Limit, Midnight, | Monday, Nov. 14 I thing to fear, and from which Inguire from any ticket office | Canadian National broker: "I am not one of those who | president Dome Mines: "The cour- | "We are on the thres- | ers thi..king will again tide us over our difficulties and bring us into a period of orderly progress." Team Work Needed A. E. Phipps, general manager of Imperial Bank of Canada: "While there is improvement Here and there in business and financial conditions, my feeling is that we have still a long way to go and it is only through determination and courage and team work between individuals, corporations and nationals that a real betterment of conditions can be achieved. There is no doubt that in the fullness of time the world will once more be back to an era of commercial prosperity which must be preceded by a cessation of the commercial strife which is so evidently at the bottom of present disturbed business conditions." C. H. Carlisle, president Good- year Tire & Rubber Goods Co.: "Notwithstanding the present adverse conditions, and world adjustments which must 'take place before we can reach stabil- ity and again engage freely in world trade--when these ad- justments are made, Canada's next twenty-five years should show and likely will show a much greater development in all respects than in any other gimi- lar period." R. S. McLaughlin McLaughlin, president Motors of (Canada: "To the four great prob- the railways, the pulp and paper business, the power situation, and the position of agriculture. "The railway situation js cap- able of solution if handled vig- orously and intellizently, as no doubt it will be, Conditions in the pulp and paper business are R: 8. General my mind, lems are: 7 DODD'S 7 KIDNEY that in- a forever true 'necessity is the mother of vention.' It may not seem cheerful doetrine, but it is a true doctrine, which when .ac-) cepted and practised, gives men deep satisfaction, and develops hitherto undiscovered capacity. "However disturbing the out- look in the immediate future you have no cause for fear you play the game wygh high courage, and do not leave out cheerfulness. Whatever happgs you must not fail to ave stout heart, preserve good retain a sense of ind g gponsibility to your fellows and to the country." SCIENTISTS 100K "It will be now heing given the considera- tion' and attention which should have heen given them years ago The power situation will have to be taken in hand, or we are li- able to have the same conditions as now exist in connection with railways and the pulp and paper bugine Agriculture which af- ter all represents the of all MO | AY alone the 1 t* lines by the var- ious deg nrovincis and federal, is capa of being put on a profit { basis. To my wav of thinkin~ | wheat a will have to he | curtailed, 01 i Canada but over the ] "and more giv to the oth- er branches of the business couraged ents of ble rea not | all | attention given I industry." Courage and Hope i John W. Ross, adian Ci r £ "To-day in Cat a ;83 a increasing and | The knowlec many structiy well dire effort yught to solving 11t preside pre i hope col 3 and ted e the of our i 1 probl | is most heartening and stimu ing, Confident must ever the forerunn<r of increasing tivity and 1 The stern three years foundation to normalcy sion in the Victor M. B. Eddy Co country ha periods of flation and emergir greatest tem ha A. E adian "Though have heen that it a most the Emp I t} hopefulnes the laid return expan- already early saner has for and a future Drury, "Since president E 1907 the passed through many boom and panie, deflation, and Is fy in- | mic " our et had Dh Gener the just particularly severe, 1 Canada ha tood up well, if not better, countries, and conclusion of at Otta- econ to face chairman Can- Electric Co ent, depression, which we passed through has feel under than with the wa, with | trade all other fil Conference {ued we can look to happiness and ter for | our n Hon. of trade io the Conference adds: "All anxious that shall ultimately terment of conditions in the Dominion but the entire Empire." The late C. M. Bowman, chair- man Mutual Life Assurance Co., in a message written for The Post's anniversary edition a few days before his death, paid a tri- bute to the conrage of the west- ern farmer, gpho was tie object of his Fiore interest, and added: "Owing to the important part which agriculture plays in Canada it is becoming generally recognized that the foundation for substantial improvement in economic conditions in Canada will be well laid when our far- merg secure a more satisfactory return for their products than that prevailing at the present time." Young Men's Views Two interesting messages Yo voung men have been written for The Finance Post's supplement by veteran bankers, one French- Canadian, one English-speaking. Sir Hormisdas Laporte, = presi- dent La Banque Provinciale du Canada says: "Were 1 forty years old, I would feel that the next decade would bring to my commercial © endeavors - results yet dreamed of. "T'o the younger men 1 say 'GO FORWARD CAREFULLY, BUT WITHOUT HESITATION." " Sir Joseph Flavelle, chair- man Canadian Bani® of Com- merce, says, in part, to younger men: 'Where; under present cir- cumstances, in your own sphere, lies the chief remedy for the ills you suffer? Where it always lies --in the spirit, and purpose, and effort of those . who are con- fronted with difficult circum- | stances. 3 "Since when are stfuggle and effort, and an uphill fight, a neopl H. H. Stevens, minister | commerce, Imper Economic | ag and zood ( are and recent ns greements n a bet- not only throughout these result you should run, or ask that.oth- undertake for.von? "The story of life's accom=- plishment is. the story .of im- { British Astronomers backbone | 11866 One" agriculture, » | Comet | with | turn the | | broeck | was | 18646 {al refers | qisintegrat proven t in men who accent struggle in 300d heart and de- termjned spirit. | 'the to Keep Special Watch in November Williams Ww appearance of the lo expected the first two weeks in > It is known also and its bility on Bay, is a retur the 15-17 possi ber of a "period it the eye interest of t York tory, University of Ch "last year the rath tie {dex of a rec origir mets, th presul year to nomical G. nt | ejected surface pre ian "in hit vere 0 | that it would he path orig rite the that their 3 ed to some plant terest in i hits for eral and 1866 secur period more Comet O "Both One n the same conclusion ha the former meteor of orbit that on MUST HAVE CERTIFICATE Special attention the following Dominion "Exporter canned fruits advised that be accompanied by of origin to enable importer fo tial rate of duty. I: ply with this rezulation neee tates the pavment of duty hefore the fruit will be released hy the British Custom aunthoritie "Attention Is directed to the Fruit Export Regulations under which no apples, pears or plums may be exported unless the fruit has heen inspected at port of shipment and a certificate i stating that the fruit complies with all the requirements of the Fruit Act and is of the grade designated." How to End RHEUMATISM New Medicine Drives Out Poisons, That Cause Torturing Stiffness, Swelling and Lameness EASES PAIN FIRST DAY You cannot get rid matic aches and pains, Neuritis, lame knotted muscles and stiff swollen joints till von drive from your systeni the irritating poisons that cause rheumatism Iixternal treatments only give temporary relief. What you need is RU-MA, new internal medicine that on the liver, kidneys and blood and expels through the natural channels of elimination, these dangerous poisons. : No long waiting for your suf~ foring to stop--RU-MA cases pain first day--and so quickly and safely ends stiffening, erip- pling lameness and torturing pain that Jury & Lovell urges every rheumatic: sufferer to get a bottle today. They guarantee it, claim the vile ned of rheu- \ | ceived the medal, SHE HAS "LEGION" OF ADMIRERS ¢ | The American Legion hitched its Distinguished Medal to a star when | Constance Bennett, of film fame, attended a ceremony in New York {the other night. The decoration was awarded the actress for her I service in behalf of the fund for needy war veterans, and here you | see her chatting with General Robert Lee Bullard after she had re- Surplus In t] t It 1 1 heen | effect of the |i | wing might be nul- Minister Will Reserve Explanation For House on Canada's Borrowing 1 new borrowings were A applied against prev- wings under the Finance now understood that this y will not be the case. Pre- rrowings under the act are num level, » learned that the policy voked upon mutual agree- cen the Government and s is being laid, in certain the ract that the rrows $35,000,000 at ds at 3 per cent (a rate to banks under therefore ob- cost of one per cent. )Wever appears inci- general policy of cre- icy by a parallel op- market opera- Reserve Bank. is attached in » appointment Clarke, of as deputy Min- iste f nance at Ottawa. Profes- 5 tood to have in for the , prior to the e, discussing the joining the upon I nt b Act), and open ¢ Federal ) Wl Co of bloc, I v or Der | Canac r Cl questior la's rl PRIEST ACQUIRES WINGS TO ATTEND | SPIRITUAL NECESSITIES OF FLOCK the Provincial vill select for him. the flying priest s field, extending from Sioux Lookout, Foleyet , and reaching 200 miles Albany River. His par- miles square, and he inch of it uture is 47 years -old Lac his postoffice. there since August, 16 years in Mont- the Jesuit College preparing r his life work, and was Europe training his re cfficiently speak es acquired during his een ¢ spent Storms and Accidents Toke Big Toll of Hunters Wyo In lofty nowstorms have n natives wise in searchers sought men whose lives lost in blizzards the Big Horn mountains, Battered hy snows that raged two wee packing pas and obliterating roads, the reg which abounds in big game was gone over thoroughly in the quest for victims alive or dead. Res- cue parties waded through snow weist deep and found one hody, that of Dillon Me¢Kinnon, Grey- | bull, Wyo., 17, Fred Demmel, 35, |and Dell F. Yoakum, 21, who = with McKinnon, have not Cheyenne, re- ons wiaere conquered eve | winter lore, | bodies of two wera believed | | in | 8 heen found. Russell Huddleston of Mont. reported her , Everett Carnell, and Ar- thur Rogers, hoth of Greybull, and a third man, whose name she did not know, had not returned | from their hunt in the Big Horns, She s=aid they planned to return [October 14, Three Hunters Dead Albany, N.Y.--Three hunters were reported dead, one was missing in Adirondack woods and Sov others were seriously in- | jured after the first week of the {open season in New York, | The casualties came at the end of a week which had already geen several hunters killed and numerous others injured. State police and woodsmen re- renewed their search for Stillman M. Pitts, 29, head of a chain of Albany restaurants, who disap- peated while on a deer drive with two guides near Newcomb Sat- urday morning, Snow was falling when a party of 25 searchers came out of the deep woods near Newcomb last night, hoping that Pitts, who was lightly dressed, had found shelter. Many gunshot signals were fided In the woods without response. Only one of the week-end cas; ualties . was directly the result of gunfire. Carl Schrader, 38, of Breeze, was shot fatally by his employer Albert I. Campbell, president of a dairy company, while hunting near Penfield. At Benson, Walter D. Can- field, 60, fired at a deer and fell dead of excitement, The shot killed the deer, Nar Fultonville, Louis D. Green, 72, going hunting with a friend was killed when their automobile struck a pole. Among those injured was Howard Martin, 17, in a Platts burgh hospital where physicians held little hope for his recovery. A hunting companion accident- ally shot him, Many Persons Injured Dothan, Alta.-- Reports re- ceived here said a storm struck near Cowarts, Alta, 10 miles away, injuring many persons. and causing: widespread property damage. All available ambulances and doctors. were rushed there after calls for help were received here. Telephone lines were disrupted and details of the storm were not immediately available, Sea according to one of who complains to. Collier's, flving down the Colombia River ge » from The Dalles to the ocean,--an air trip which in the op- inion cannot be matched for beauty anywhere this side of the Atlantic, [On er-awed by the Two them wer nen, man, almest ov grandeur of the scenery, listened in silence as long as he could while his companion dissertated on business conditions, then broke out, exclaini- ing: Miss Mabel Moon returned home Friday morning from a pleasure rip through the East. ANADA BREAD Appetizing Nourishing Satisfying Try it. Phone your order. NOTHING TO St. John's, Nfld. -- Eskimos of Northern Labrador don't know thig fellow depression. They had a good summer and the outlook for the winter is "most satisfac- tory," according to Rey. B. Lenz, Moravian missionary at Makko- vik. Mr. Lenz reported that never in hig 30 years as a missionary in the north had he seen such a good fishing season. As a result most of the families are well MARKET FLUCTUATIONS MEAN WELL-FED ESKIMOS equipped for 'the winter. Mar- ket fluctuations do not bother them much, They are concerned about food more than anything else, and if there is plenty to eat they are happy. Moravians have been doing missionary work in Labrador since 1771. They operate sev~ eral schools, including two boarding schools. They have a hospit at Nain and another at Makkovik. Toronto, Nov. 2 One knows but the Rt. Rev. Derwyn Trevor Owen is a bishop because : a boy his brain reached indiffere to caleylus, trigonometry, a and other bewildering mathen sciences. of chattin Toronto, recalled how his son was firs clined to engineering, even v a surveying trip out west, ! his mathematics strong. tory and English and used to argu li e anything with his teachers historical matters," said T. R, Ox Mr. Owen, a slight | gentleman, a bit hard was honest about his age. J | and finds old age rather uninterest- | ing and without much pleasure, "I read," he said, "but it can't be done all the time; my eyes won't | allow it. There isn't much pleas: | after you're 80, and it's a bit lone- ly." Most Moderns "Trash" Of authors he is particularly fond of Anthony Trollope. Modern books? Yes, he replied, some of them are ood, but many or them are trash and@he sex books ought to be put in the furnace. "There queer books turned out to-day, h said, one must be careful of what one gets. he abhors, for girls, he said, are sc soft, so susceptible, and they re trash and are injured by it. His arc its own level." | He chatted happily of his son, the Bishop, saying how gratified he is that his Lordship is coming to Tor- onto, but that at the same time he was sure that the Bishop regretted | leaving his Niagara Diocese, where he had worked so hard and endear- ed himself to the people. "He was born at Twickenham, Middlesex, England, in 1878" Mr, Owen displayed a marvellous facul ty for remembering tes, "and came out with us to Br n, Mani- toba, when he was ah ur years old. T took up sheep farming, h about 150 sheep, but after a fime we all returned to England Church of Childhood "It was at FEastborne that the Bishop, as a child, showed an un- conscious interest in the church. His grandfather was a prominent church worker, and my son uscd to make never |i lined living room at 83 Alcina ave, | "He was especially keen on his- | It is the sex novel that | opinion is "Leave sex alone to find | 'V | blade, 1 ¢ New Bishop of Toronto Planned to be Engineer Builds Spiritual Lives t his business to go on Sundays to I see that everything He was about 11 years ird his first sermon, and from bored by it. Two , as a Bishop, he preached n there, and there wasn't a For the father of the new Bishop |d s family to Canada, to 2, Ontario, and there to the country school. sster he was full of life w--and fun, and mis- any boy. He was fond and used to do a lot of nd swimming,. Then he ity College, and as a ¢ his fellows--played i of cards and smoked. s lie led a clean life, He s t in his face--it is a beautiful face; and I've never seen a more spiritual one, Rejects Engineering "He thought at first he would like to be ah engineer and joined a v that went to Cal- mathematics was not and then there was I of the ministry, sub- licard by him, perhaps is a boy. He went to and for some I the late Canon Powell, ual steps has arisen to ), curveyi 0, see many such albums s, said, and showed his of the Bishop as a boy lent. There was pictures, r members of Mr. Ow- is two other sons and ne [v. Owen might find life less ex~ than when he was a young ut thought he didn't say so. | ud of the fact that are serving three All of them are here pre sons ngs. BUTTER AND CHEESE For the twelve months end- ine August, 1932, exports of but- ter amounted to 7,554,000 Ibs. valued at $1,515,260, as com= pared with an export movement of 6 2,500 Ibs, valued at $1,- 545,607 for the corresponding period one year ago. Exports of cheese for the same period, 1932, totalled 95,333,600 Ibs. valued at $10,799,700. Dominion Dept, of Agriculture. Choice ib. 5e¢ Th G ocd Atl ----Sidney Daily News. antic & Pacific LIMITED OF CANADA