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, Malted‘ Milk ” It seems ironicai to us that the own- er of a: prize Jersey herd ,5th ac- quire millions from the profits of the sale of melted milk. Just a Tiny: There; are many queer ways of drum- mlng up business. Nothing fits or matches an article of commerce that has been used more than flfleen minutes. This might all happen by accident, but we think that it happens by design. As we drove along the Lake Shore road this morning the invigorating breeze from the lake had just a. tinge of a suggestion of frost. W'e ‘wohdered whether we had wait- ed too late for our vacation this year and would have to take skates with us on our holidays. It is quite a trick in this country to catch a. vaéation date that misses both the cold spring rams and the first frdsts of autumn. ~ ' How Much? Just as a matter of pure curiosity we wonder what it takes to fascinate a lady $3,500,000 worth. ‘ vuâ€"v quwâ€" vâ€"vâ€"v' â€"â€"â€"â€" â€"â€"â€"â€" â€"â€"â€"â€" 'U ‘Every sequence of letters on dur type- writer seems to form the phrase “A legacy of $3H'590000.’ We know nothing of the technique of making radio bulbs or of the samples (or lack of them) among the manufac- turers. We have noticed this. nowever, about, all manufactured machines and articles. There is great difficulty after the lapse of a few years in securing parts. The consequence is that if you need a new bolt. it is necessary to buy a new It is :‘ixnpossxble to match cloth pat- terns sold the previous summer. There are qulte a number of “things that we would like to do 11' several mllllon dollars dropped in Our lapâ€"or several hundred dollars. We have no doubt that this will be followed by an indignant denial on the part of those who make radio bums. Some day it we ever get the money we “are going to travel all those miles of cobblestone roads we marched dur- ing three years spent in France. We are going to travel them in the most luxurious automobile we can find. We are going to sink hack in the cushions and see it we can remember exactly how we felt when we had to slog along those miles That is just one of the things we are goingtodoifweareeverleftthree million dollarsâ€"or three hundred dol- â€"-â€"â€".w-' We find great difficulty in hitting the right. keys this morning. Some lad is complaining that radio manufacturers shorten the life of radio bulbs to make more business. The model has been- changed and this and that. Writing in his sketchy but enter- taining column in The Toronto Daily Telegram Thomas Richard Henry has the following to say about current events 2â€" . .0 06 0‘4“ . ... - ' It ls rather hard for a country to feel safe and isolated these days when man can travel all the way around the world in {our days. The Atlantic sort of shrivels up to theslaeofaduok pond andmeUntted States is forced to realise that it is put of the world after all. Another thing that should. persuade Uncle Sam‘s little boys that tiny are not living in a vacuum 13 the hose loss .. .vv .l' “C ' V“ Um - v." ""V "“ that the Chinese-Japanese affaii' is costing the USA. Ines of exports represents a huge figure. which we have forgotten but believe it ran into $25000 an hour or mething like that. TheUnited Statesisthelu-gestex- porting country in the mid end over 7,500,000 a! the industrm populatim is‘ mum on export trade. Mirages, Malted Milk, Missing Men P a lace Pier, Preachers, Parts, Practices, Etc. r. m: 233$ 0"..w' .O‘. 0““ I ...,-.... -.. Hindi;â€" baits.;--;..... .-. We Me I“ am STOCK BROKERS Timmlm, 19 Pine Street North Toronto , Kirkland Lake 293 Bay Street 34 Government Rd. Unlisted Stocks Commission basis only Local Phones 1200 and 1201 Mnrket Quotations Broadcast each day at 12.20 noon and 5.20 pm. Direct Private Win. {or fast and manta quotations and execution: In all Mining Stocks industml and Public Utility Stocks Bonds Accurate Markets and Executions In The request to find this man was made to the salvation Army in Edg- land. With black flies and mosquitoes hav- ing the kind of dispositions tnat they have, entering a Canadian bush “wear- ing a straw hat" would be about the last that would be seen of any manâ€"- we mean. of course, if a straw hat Was all he wore. Since the “Canadian bush” consists of a fairly large number of trees the army will probably have.its work cut out for it. The Hamilton Preacher . A Hamilton clergyman on Saturday offered to share the sentence of two youthflul parishioners charged with stealing automobiles. The min. of course, does not expect to glvehis right armâ€"and we did not think {or a minute that the preacher expected to go t9 Jail, or had any in- tention of going to‘ jail. He felt that he had neglected the boys. W18 toak this remark as Simply a way of adding emphasis to the idea that the clex‘gyman felt very somy. We took the remark in the same way we“ would take the declaration that a man would give his right arm to get a“ho e-ln-on‘e. " We see a number of other preachers are taking his words in earnest, and drawing an object. lesson from them. We think‘that the Hamilton preacher better make a, statement saying tfiat his remarks were only meant to'empha- . A Necktie and a Smile Like the man who wore a necktie and a smile we see a notice of a missing man who was last seven “enterinthhe Canadian bush. wearing a straw h‘at.” Now Va preacher cannot get on the calendar of saints by his good inten- tions. size how soury he felt that the boys got into troubleâ€"«and disavow any in- tention of being a martyr. Or maybe he better steal a car and go to jail with the boys. We have always found it. to be a somewhat unhealthy situation for any- body to take credit for what they would havebeenwmhlxtodolfthcyconld have done it. After all it is what you do and not what. you say that counts. .4 â€"Az§d we éun think that the preach- er would have been very much Surprised it the law had called him, and he had found himself behind bars. We are referring to the Palace Pier? and we are weary of seeing the thing; 5mm desolateâ€"and empty nke'a' death's head at a feast. i We don’t know why they don't. run a picture show. .a dancing pavilion, a roller skating rink or a merry-go-round in it. In Brighton, England. there used to be a long board walk {hat led out into the water and at the end of the Walk was a cinema. _. X'dog' that is stung will coat itself with the kind of mud that will draw out the poison. Surely there is something that some- body can do with a somewhat preten- tious piece of masonry built oven the water. It probably wduldn’t, earn much but. it could earn something. We noticed on Saturday that bowlers in the east end of the city were Sent scurrying before a cioudburst. while out in the west end there was only a few scattered drops of rain. fRain may fall on the just and thg uni just. but-- Animals seem to be abie to do as much by instinct as the high paid me- dices with all their science. And the animalé do the same things in all ages. while the manner in which the medicos treat this and that changes with every fashion and with every sea- We will put everybody on a diet. This diet will consist of all the things that the patients like and all those loads that they do not like will be for- ItwmbealdtmoremnmAnmy otbcrdletvahnveseenâ€"nndwmpos- dblydoas muchgood ‘Nuture did not give us likes and dis- Medical Knowledge We don‘t seem to have gone far along 1e way of medical knowledge. An mdlsposed animal will look for he kind of food it. needs to make it We think that we will start a cult. .. ITllree Years Ore at . 1 Martin Bird Mines “Amendment to Section 32B Income War Tax as interpreted here causing much uneasiness among mining men ,as introduction of capital gains tam-- tion system and certain to impede ser- iously initial mining development un- der plan followed hitherto with suc- cess. It is suggested that one way to meet the situation forced upon the in- dustry is to distribute stock immediate- ly and thus interfere with escrow of vendors shares by Securities Commis- sioners as now practised with benefit :to financing of new ventures. We so- I zlicit statement from you bearing upon the subject and should be particularly .pleased if some reassurance could be passed on to interests engaged in fin- ancing new ventures. The amendment has already held up distributions of vendors stock received by corporations and syndicates for properties upon which capital had been spent for ini- tial development and then turned over to stronger financial groups." No Sale, No Profit When the legislation was introduced the bill contained the following ex- planatory note: “Replying to yclur wire of July 18 re- garding Section 323 of Income War Tax, recent amendment does not alter definition of taxable income and does not introduce new principle into Cana- dian income tax legislation. Corpora- tions which, prior to recent amend- ment, disposed of assets through disâ€" tribution in kind or at price less than fair market value, and which would not have been taxable even if disposal of assets had ben effected at-fair mar ket price, would still not have been tax- able if Section 323 had then been in force. Realization of assets must still create income of a corporation within meaning of' Income War Tax Act be- fore such realization of assets becomes taxable under Section 323. This amendment does not introduce capital gains taxation into Canadian Act.” The stabement, ix; telegraphic form, in response to wires sent to Mr. Ilslrey and Hon._ C. A. Dunning, and also to Hon. T. A. Crerar, Minister of Mines. reads as follows:,. ,â€" p“ , ,n .- The telegram sent by this depart,- ment of The Globe and Mail to the three Ministers mentioned was as fol- lows : (From Globe and Mail) Hon. J. L. Ilsley, Minister of National Revenue and Acting Minister of (Fin- ance in the absence of Hon. C. A. Dun- ning... denies that Section 323 of the closing minutes of the last session of closing minutes oft he last session of parliament, introduces the principle of capital gains taxation. "3ZBâ€"A profit is derived from a sale. Without sale. in contemplation of law. there can be no profit. Companies have inventories. the market price of which is much higher than the cost price. If the company, as a company, sold the inventory, it would create a corporate profit subject to a corporate tax and on distribution by way of dividend or on winding up the profit would be subject to tax in the hands of the recipient individuals. Compan- ies are distributing their mventories, particularly when they are in the form Annual meeting mm be held @330 p.m:,~July~. 22:- at- 2C0 Bay street; Tor: onto. Balance sheet as at May 31 show-ed current assets of $20,783. of which $19,- 520 was cash. against current liabilities of $10,435. Up to that date rompany had spent $79,856 on shaft sinking and $237,477 on underground work. o! smcks, bonds or "other like securi- ties the present value of which is much above their cost. without corporate sale but mt'mbly in kind among their share- holders. or alternatively by selling to their shareholders at 9, price below the market price. Thus they seek to avoid Work is continfiing westward on all three levels. Drift is being driven in No. 3 zoxfe on the 125-foot level. and. while high individual assays have been cbtained in places. average values t6 date have not been mine average. Drives on the 250 and 375-foot levels have not yet reached the No. 3 zone. Further work to the east is being carried out with diamond-drill holes going down from the 250-foot level. Surface drilling is also proceeding to test the ground beyond present eastern extent of underground workings. Sufficient Ore Developed to Operate 150o'l’on Mill for Three Years. above the m-i'ot level at Hartin Blvd Gold Mines. urchi- Lake area, to op- erate a loo-ton mill for three years or a 200 ion unit for more than two years. Aline Manager D. M. Macleil reveals in company's iii-at report, which covers period from incorporation to May ‘31. 1938. However. Mr. MacPhail believes it. would. be advisable to continue ex- ploration for several months until pos- sibilities of No. 3 zone are known be- fore definite mill decision is made. To May 31. there had been developed a gross tonnage of 158.000 tons to depth of 375 feet. made up 6! 134,600 tons averaging $7.43 and 24.300 tons, aver- aging $6.66 per ton. Results of tests being carried out on a 5 to 6 ton bulk sample should be available around the end of this month. No metallurgical difficulties are anticipated in treating the ore. "Minister of Revenue Explains Tax Clause tax indicated above.” The amendment is to secure ' to the revenue the equivalent. tax that would be secured if the corpontion sold its Denies Introduction of Cap- ital Gain Taxation and an individual 13!! mm ”W (Add one teaspoon of gasoline to each two 7quarts of hot; soapsudsn. Dip ~a."soft‘"cibth' (a 'piéoe'”of ”01d ‘Ci'irta'i'n makes a nice soft cloth) into the suds and wring it as dry as possible, then gently. rub over the soiled paper. Use a portion of it at a time. and when the cloth is Soiled all over, rinsé it well. Blairmore EnterpriseMâ€"‘B-raggmg may not bring happiness, Hut no man with a large fish goes home through the alleys, When' at. Dunning muodwed me budget on June as no mention '1'“ made in ms summary of the proposed mutton changes of Section 323 of the Income War Tax Act. which was passed by the House of Oonnhon: without dis- cussion on June 29. Mr. Daley. Innis- ter of National Revenue, pointed out that the new feature in thlx section had not been included in the resolu- tion which had to be concurned in be- fore the bill could be introduced. \ Just before the bill passed Right Hon. R. 8. Bennett observed that the Minlster and his officials were “doing their ut- most to find some sciution to the prob- iem of getting some revenue from the class 0f peOple mentioned in the legis- latlon. Query by Mr. Meighen . Right Hon. Arthur Meishen alone displayed mild interest, said he would like to read and understand Section 323 before assenting to it. On assur- ance from Senator Haig (Conserva- tive. Winnipeg) that the legislation "simply says that if the company is wound up and the assets are distribut- ed. their fair market value may be de- termined, and it may be assumed that they have been sold at that price and the proc-eds distributed." Senator Meighen allowed the bill to pass with the remark: “That is to say, what is in reality a profit and is being distrib- uted on the winding up of the com- pany, cannot- be said not to be a profit merely because the inventories were not valued.”‘ Suggested Preparation to .. Clean Varnished Wallpaper The bill reached the Senate on the day before prorogation when the Upper House was going at top speed to end the session.- - 'vâ€"vvâ€"vww “v therefrom daunting 3 «13336535. : N. M T.-. YLOR H A R .W RE ALUMINUM PRESERVING KETTLES Medium $1.33 dozen 59c 85c FRUIT JARS TIMMINS PHONES 300-â€" 301 1601' $1.15 dozen $1.75 dozen Small Large STAINLESS . ENAMEL PRESERVIN G K ETTLES 5-inch 6-inch 7-inch 32-piece Service for six persons Red as Black design 'Mcleod Cockshutt Manitoba and East . I McIntyre ................... McKenzie Red Lake . McW‘atbers ................. Mining Corporation Moneta ........................ McVittie Graham ..... Naybob .......................... Noranda ....................... Nipissing .............. O’Brien ......................... Paymaster ...... ' ........ Pickle Crow ............. IPioneer ......................... i'Preston' East. Dome | Premier ......................... Read Authi-er ............... Reno .............................. San Antonio ............... ,de Lake Goldshore Big Missouri Beanie Eulome ...... Buflnlo Annex-ice Canadian Malaruc Castle mnemy Central Porcupine Central Patricia . Con. Chobouga’mdu Darkwater ............ . Eldorado Falconbrxdéé Glenora . ‘ Goldale .4 Gunnar Hat-drool: ...... ‘ . ‘ Hollinger .............. Howey .. ._ Hudson Bay ........... International Nickel Jackson-Mamet: ..... Kerr-Addison . .. . Kirkland Lake Lebel Oro ................ Leltch' . Lake Shore ........ . Little Long" Lac \ . Strainers [ To-day’s Stocks '1 TEA SET $4.75 SALE OF ENGLISH CHINA PARING KNIVES - MIXING SPOONS W333? - LADELS ------- F001) CHOPPERS - ‘- - MEASURING CUPS Aluminumâ€"15c Pyrexâ€"40c 20c 25c 35c WE SERVE THE NORTII. THE GEORGE Bud onceâ€"Nev manta, Ont. sag 32-piece Service for six persons Victorian Pattern KITCHEN SCALES TEA SET $2.15 $3.85 a. 2% 30.50 52.00 ”11% .,1.74 2% 43.75 ...l.15 ...... 62 . 2.03 ,. 1.90 ..... 16 ..'74 .70. 00 .959 30.75 51.00 3.50 14.75 ...49 4. 70 2.95 4.10 ..,90 2.27 2.55 H10 2 .52 .. .45 1.29 .914 1.35 6% 79 . . .............. Budbnry Bum Summons _ ,. Sylvanlte Suntan Con. Oeraldton. July 20.-Weeley Swalea. 28-year-old steel worker. was {Sully Injured Tuesday afternoon When he slipped from a scaffolding and fell thirty feet to the rocks below. Bweles was emp oyed by the Horton Steel Co. and was engaged in erecting a steel water tower at MacLeod-Cockshutt Gold Mines when the tragedy occurred. Swales was unconscious when picked up and was rushed to Little Longlac hospital by Dr. J. V. Riches staff phy- sician for both Macmod-Oockshutt and Little Long Lac Gold Mines. Examin- ation revealed he had suffered a com- pound fracture of the skull and a pos- sible spinal fracture as well. Swales is survived by his wife at Blind River. and his parents who re- side in Saskatchewan. He had‘ been employed'on the water tower from the time construction was begun and was regarded as a' clever efficient workman” Provincial Constable Fergus Christie and Inspector Arti‘lur Bayne of the Department of Mines, are investigating. but date of the inquest has not yet been fixed. According to F. K. Garrison. foreman of the job, Swales had been installing “fnost easing" around the pipe leading to the 50,000 gallon steel reservoir and it was while at this task that he missed his footing and fell. The scaffold on which he had been standing was some thirty feet from the grdund which in the vicinity of the tower consisted of a solid stretch of flat rock. Three doctors were in attendance on him and surgery was resorted to in an effort to save his life. but. he died at. 6.20 pm. without gaining consciousness. Wbodstock Sentinel-Review: â€"If the starlings present with us in such num- bers would only take it into their heads to dine on army worms. their reputa- tion would improve immensely. Man Killed by Fall From Scaffold at Geraldton RED UR GREEN WOOD OR METAL Enamel * ivory and green 75C Aluminum CULLENDERS Dinner Service Parowax ..... New Ideal Seal [or jelly Jars PM -piece dinner ser vice for eight. Victorian Pattern CELLO-SEAL $16.00 15c 15c 15c $1.75 Specially 1 Priced at ....... 15c 1.41 , 14 3.38 2;“; ‘ flutes profit for the six months and- 7.00 ed June 30. 1938. before depreciation. ' ‘ depletion and adjustments of surplus land contingent reserve. at 82.1 “$7. 'equal to $1.08 per share on the 1.946.088 l’. shares outstanding in hands of the 0“ public. or 31.05 per share I: the 53.33:: shares Issued. but held intrust for the {923 company. one included. nnnoh 8m” . fa Warehouses u Cobalt. Newt ' 'g'ard. Swas- Jelly Glasses 50c doz. 35c dozen Earnings fDo ‘Equaltoglwénheare ZINC JAR RINGS .‘Thls compares with 32.161779: or $1.10 ($1.07) per share on the sun's capitalization in the same period last year. although at that time authoringd capital was only half what it is now. a 2 for 1 split having been approved and carried out this year. . “smpmentfi. .of . newwrint .- inf .-Jt.1.n.e" amounted to 27,493 tons. as compamd ”with 25,442 tons in May, and 39,671.11) June, 1937. Present indications are that shipments of ne wsplint in July Will be about 21,000 tons. Gross bullion production for the per- lod was 33.640528 from treatment. of 299.200 tons of ore of average recovery of $12.17 per ton. against 33. 760 .285 and average of $13.10 in comparable period of 1937. Estimated operating prof it. at. this: mine was $1. 953 H725 against 31.969784. to which was added non- Operating: revenue of $160. 332. against $182. 995. Earnings of Abitibi Power and Papéif Co. in June. prior to charges for de- preciation and bond interest, amounted to $331,066.78, as compared on a simila’r basis. with $285,264.55 in May. and $394,168.93 in June. 1937. Development. operatlng and general costs amounted to $1,322,633. or $4.42 per ton milled. against 31.433095 or $4.99 per ton last year. Taxes accOunt-- ed for 8358.780 and $5410 was written off for outside exploration. Shipments of bleached sulphitc pulp. in June were 2142 tons, as compared,‘ with 3000 tons in May. and 5564 tons in, Jlune, 1937. Present indications are that shipments of bleached sulphite pulp In July will be about 2300 tons. Production for Six Months Totals $3,640,528 Improvement in Abitibi Business for Month of June Dome Mines. Porcupine district. es- Size 7-jar ENAMEL CANNERS ' 2’. 32.29 2’. s2.75 $010312 5 c 4 (102‘ RUBBER ‘JAR RINGS PAGE m! [H