David Lloyd George and Some References (From Thoma There was a ti supposed to be sC investment. In the years that followed 1 of the gilt was rubbed from t and a lot of funny things w covered masquerading as bond British Shipbuilding ting Back to Normal. David L. G. limbers up his at last and tolls the world what Briâ€" tain should have done in the crisis two months ago. There is hardly anything criginal in this, as a lot of psople started on the game tack just as soon as the danger was over. Now in the cnlightened year of grace 1938, the fact is further emphasized thast a bond is no better than thie carnâ€" ing power behind it or the moveable property it representsâ€"for example, a Imining company, with its stock selling at 13 cents a share, is offering bonds to the public. Mr. Lioyd Gsorge‘s comments are interesting in so far as they show him at 75 still a great opportunist and still quite a talker. He claims the totalitarian nations would have been crushed like an egz? shell. It probably is good politics to make it look as if the Government missed an opportunity to quickly and easily exâ€" terminate a potential enemy. And â€"Mr. Lloyd George will always make the most of any political arguâ€" moent. It was a good political argument even If the Kaiser is still sawing wood at Doorn and even if Mr. Lloyd George didn‘t have an specific plan about hangâ€" ing the Kaiser. I always felt rather loet down over that unfulfilled promise. I always felt that if the Kaiser had been hung it might have had a pacific He even won a: promise that h Kaiser." THURSDAY. NOVEMBER 3RD, 1938 on First Mortgages Available in REAL ESTATE ~ INSUF STEAMSHIP OFFICE 20 Pine North Phu Timmins 1135 Arriving to take part in the Internatione! Horse Show at Madison Square Garden, members of the Irish army riding team were welcomed by Major C. E. Davis to New York. The Irish ttam will be among those competing at the Roval Winter Fair in Toronto this month. TIMMINS SCHUMACHER SOUTH PORCUPINE Paid Back Monthly over 3 to 5 Years. APPLY TO Irish Riders Arrive For International Horse Show THURSDAY, NOVEMBER 17th, 1938 FROM T. N. 0. AND N. C. R. REGULAR STATION®S TO Pembroke, Renfrew, Arnprior, Ottawa, Ontari0‘ Montreal, Quebec and Ste. Anne de Beaupre, Que. Children 5 vears David and Mis Slingshot lemhkdmmg and Northern Ontario Railway The Nipissing Central Railway Company mas Richard Henry) time when a bond was some sort of giltâ€"edged ars of age, and under 12, when accompanied by guardian HALEF FARE For Further Particulars apply to Local Agent. lectio: would YVia North Bay and Canadian Pacific INSURANCE Phones 1135 1580 ice on the hang the 1929 a 1 the edg were di 10 eifect on warâ€"mongers yel to come. It was to be expected that the Pride of Wales would take political cracks at the government, but it would be so much nicer if he and the rest of the pol‘tical babblers would play their poâ€" litics around something less serious than Peace or War. The last war proved that you can‘t build permanent peace, permanent prosperity or anything else permanent with war as a foundation. It remains to be seen if a permanâ€" en‘ peace can be built on the someâ€" what precarious peace that prevails in 1938. ago Maybe lot of b1 No Fooling In the black week when it looked as if the storm would break in Europe the British Navy, at least, was doing no fooling. There was a young Englishman, a navy reservist, on his way to a Qubec mining area. He was ordered to report for duby. Another chap was in London, on holiday from job with an oil comâ€" pany in India. The authorities caught up with him, loaded him into an airplane and had him half way to his station at Sierra Leone before the clouds lifted. When peace came, this man was landed at Morocco and given permisâ€" sion to find his own way home again. British Shipbuilding It would seem that with the rearming activity that British shipâ€" building would be humming. The folâ€" lowing is an account oppearing in the London Daily Mail which proved rathâ€" er surprising to me: "Britain‘s shipbuilding industry is drifting towards another slump, in spite of the big naval program. "Reading between the lines, it seems that merchant shipbuilders are facing a position where next year they may be engaged to the extent of only 25 per cent. of capacity. "Taking the indusiry as a whole, and including warship work, over 50 perâ€" cent of this shipbuilding berths in this country look like being empty in 1939 â€"and this after oneâ€"third of the indusâ€" try‘s former capacity has been scrapâ€" ped under the National Shipbuilders‘ security. scheme. "Low level of freizsht rates, high proâ€" duction cos‘s, due partly to the arms program, and subsidized foreign comâ€" petition as the main factors in the presont situation. "During the past three months Briâ€" tish shipyards have had orders for only 30,000 tons of new merchant vessels. New tonnage actually started totalled barely 87,000 tons. Foreign yards, on the other hand, lid down 546,000 tons. "So far this year, British merchant shipbuilders have been able to put in hand only 417,000 tons of new merâ€" chant work, against the foreigners‘ toi@al of no less than 1,500,000 tons. In presâ€" ent conditions the final quarter‘s orders are unlikely to bring our total for the full year up to more than 500,000 tons. Dayvicd. L. ~Cr, â€" thinks thatâ€" f brave talk now will make up for ral of his sins of omissions 20 ycears At September 30 last, total merchant tween the lines, it seems ; shipbuilders are facing re next year they may be r extent of only 25 per not later than C.P. Sunday. November "What have you fellows gof to say to the statement that more money gooes into the ground in this country than comes out of it?" (From the Annual Number of The Northern Miner) The perennial question cropped up the other day in a discussion on the value of the mining industry to Canâ€" ada. It represents a school of thousht which seems hard to scotch. at the top, this glib suggestion that mining consumes more than it proâ€" duces is false. In this country in a busy year there are not more than 1,000 mining operâ€" ations of all kinds, including prospectâ€" ing expeditions There are almost exâ€" actly 200 producing mines of all kinds, base metals, gold, silver, etc., leaving out a few small customs mill operations Of this number fully 175 are producâ€" ing at a profit. This leaves a figure of 800 for the purely prospecting expeditions, the surâ€" face operations which are doing a litâ€" tls more ambilious work than exploraâ€" tion and the diamond drillinzg projects. Certainly this figure is generous enough in any ordinary year. Development Expenditures It is not possible to give exact figures for the expenditures of developing and exploration projects in hand all over the country in a given year but an estimate is feasible. Assuming that there are 50 development programmes on hand, properties preparing for proâ€" duction, at an average outlay of $200,â€" 000, a sum of $10,000,000 is indicated. It is true that a number of these deâ€" velopments may involve outlays runâ€" ning from $500,000 to $1,000,000 But these big projects form a small proâ€" portion of the total number. The orâ€" dinary cost of preparing a small mine for a mill and equipping it is usually ?spread over several years and the pstiâ€" !ma‘_c is dealinz with a 12â€"month period. Like the reputed saying of Mark Twain, whose mining exprrience was largely limited to stro‘lingz from town to town of the Southwestern States at a time when there were rare shennaniâ€" gans in mining promotion, that a mine was a hole in the ground with a liar One wonders why people who enterâ€" tain the idea of the unsoundness of mining economics do not investigate production figures and then do a litâ€" tle ready reckoning as to the cost of prospecting and developing operations in Canada. Figuring Value of Mining to Canada Scotching the Theory that More Goes in than Comes Out. "Not only are the foreign yards seâ€" curing orders from our old customers, but they have also in hand just now | work worth some £6,500,000 for Brmsh! shipowners. "Thus,. in German yards, 40 per cent of the merchant vessels now being built ‘ is for export, in Italian yards 60 per cent. is for, export, while in Sweden the l figure is as high as 75 per cent. Here on the other hand, it is only 11 perl cent.. excluding work for the Domâ€"| inions." l Adding It Up Recapitulation of the foregoing shows the following: Nonâ€"profit producers, losses $ 1,000,000 Mine development projects _ 10,000,000 | Advanced prospects 3,000,000 jProspecting ventures 5,000,000 tonnage under consiruction in British yards bhad fallen further to 885,000 tons, or only half the foreign figure. Of the 700 remaining operations a third classification would include about 200 diamond drilling and prospect shaft sinking programmes, which would not run to the same money as actual develâ€" opment work, although some of the effort might be so designated. These jobs do involve considerable expendiâ€" ture and it might be estimated that the average undertaking would cost $30,000, for a total of $3,000,000. The balance of 500 would run largely to surface exploration by organized companies and syndicates or straight prospecting ventures, which, individuâ€" ally, would not require any very large outlay. It would be safe to venture an estimate of $10,000 for an averaze, or $5,000,000 for a total. "As a large proportion represented vessels nearly completed, it is thought that the amount of work which shipâ€" builders will have in hand in 1939, is hardly likely to exceed this year‘s new orders of 500,000 tons. The industry‘s capacity figzure is 2,000,000 tons. "How different are conditions in the other countricsâ€"where there are the benefits of subsidies, exchange develu- ation, and low costsâ€"are seen from the fact that shipbuilders in the rest of the world are operating to capacky. The loses of the 25 nonâ€"profit proâ€" ducing units would not exceed $1,000,â€" 000. Unprofitable mines do not long continue in opcration and losses are quickly cut. In dealing with the question of wheâ€" ther the mining industry produces more than it consumes the above figâ€" ures are pertinent, because the general public looks upon early stage projects as the big consumers of public money. The figures, however, are not impresâ€" sive in comparison, to the sums which are involved in actual production at a profit. In the first place, an industry which produces in excess of $457,000,000, as the mines did in Canada last year, uses almost exactly half of the income for such costs as labor, materials, power, administration, marketing, etc. These may be considered items which should be included in a computation of "money going into the ground." ter deducting the legitimate costs Total nonâ€"profit expenditure $19,000,000 THE PORCUPINE ADVANCE, TIMMINS, ONTARIO | grotun | over a of mining in 1937 of approximatecly this is deductible t sum. But it is equailly tru the same period of time metals and mincrals com the ground is far greater. not true, of course, the ind languish instead of thrivir pecting ar blossom i1 very larze long run. balance t mines in . prospectin country in almost do Sudbury Star: According to a forsign item, Herr Hitler plans to glorify the position of father in the family. Which seems to be convincing proof that he knows his minorities. actual casn rdd up all 1@an paying to ninety p» EXTRA: Six Hockey Sticks for the Next Six Winners Complete ness and Just the have been A grand sleigh to use this winter, . Strong and sturdy. SCHUMACHER ROAD do th S$LEIGH ONE PAIK pro 11 Boys BOYS €)MY 1 Ti prC Here‘s How To Win Your Prize »0!] ALL PRIZES ARE NOW ON DISPLAY IN MARSHALL â€" ECCLESTONE‘S WINDOWS with harâ€" ski poles. thing â€" y9u wanling. A T NUâ€"GRAPE N PEPSIâ€"COLA ORANGE CRUSH LIME CRUSH RICKEY thore is lo $228,000,000 16 $10.000,.00 ‘Aals coming oult Of reater. If this were the industry would Phese 3 Accepted ne 1 1 FIRST PRIZE Da pmMm 1] Fops Only Will be L. Be sure you don‘t ret substitutes. 1€ NOTE 1A #)%4 ho lhe animal in quasastion was over a he . year old. and of fair size, and certainly ild should not have been so placed that a | sinaiu child or anybody but its keeper ;s | could get within reach of its claws. jog : As was pointed out this summer An _ l l an dissne 0f an American magazine of Safety of Public Should be First Consideration from Csrrtainly no bear of more than six months of age should be allowed to be near the touch of the public, and even a small cub can do a lot of damage to clothing, if nothing else. ‘ Our opinion is that if bears are to be used as attractions, and incidentally sourcres of revenue, at service stations or other public places, they should be properly caged and housedâ€"with acâ€" commodation in which they can reâ€" 11@A al al Girls: ton_ will love these wonderful skiis which are complete with harness and ski poles. Here is a sleigh that all the girls will envy. snpecially constructed. SLEIGH T of view of food used to acceptin ONE PAIK brin M ) acceoptin it that is )¢ T following soft drinks, 7â€"UP, NUâ€"GRAPE, PEPSIâ€"COLA, ORANGE Save the Tops from the CRUSH AND LIME CRUSH RICKEY. Each Top has the same valug, Bring them to the office of the Gold Belt Brewery on Tuesdays or Thursdays only, where you will get a receipt for the number you bring. The greatest number of Tops turnced in during the contest will detormint the winners. NO OTHER TOPS A‘Z(?EP'I‘ABLE. it lon brings how thest or whetheo; mereli} But ht AAQC food what TIM MINS a Nn Two first prizes consisting of a beautiful pair of Skiis, Harness and ski Pole will be awarded to the boy and girl having turned in the greatest number of Tops. second prizec for each boy and girl, a pair of famous C.C.M. Tube Skates. Third prize for each boy and girl, a strongly made Sleigh. Fourth prize choice of Tricycle or Doll Carriage, The next six winners will receive a grand Hockey Stick cach. tire when weary of asociating with curious bipeds. Many of the poor brutes we have en have been left in the open withâ€" out sheliter of any kind, and at the ®. Most own comfor th culariy as they become vicious anc handle. for propet both to <h asolin«( Captivity plete Famous Boys‘ C.C.M. Tube Skates, Comâ€" Westinghouse Range New and advanced in every detail, Flat table top style with builtâ€"in timing clock, Automatic oven control. Two large utility drawers anua warming closet with dish rack,. See this, the most modern range made, at 39 Third Ave Phone 1870 a bear, however tame i\ may to be, is always a wild animal. of those kept in capivity other he strong confines of a zoo, have hot when they attain mature aze, SK ATES CHOICE OI BOOTS ONE PATIK Every boy and girl, living in the Porcupine Camp, up to the age of sixteen years, is eligible to enter this contest except employe¢s of the Gold Belt Brewery and their families. HAVE YOU SEEN THE NEW DEâ€"LUNXE Lynch Electrical Appliance Co. with Boots BOYS laren. and 11 cmseives e to be a supplement to there be strict regulaiion nfinement,. with a view ifety of the public, partiâ€" RIZE decent condition of Start saving your Tops toâ€"davy. Get your friends and neizghbours to save them for you. _ Contest ends November 30. 19238, y** prc Timmins â€" Schumacher anima at stuupp.y ol 1000. 1MaL ful look disappears as soon ; "pop" or bread are sighted. is the brute‘s main goal whs« woodsâ€"food, and little else. From the nature lover‘s po however, the bear which is reasonable distance, when the bush,. is the only sight ing. The captive bear met food and drink in a mannecr. Thore‘s nothing the spectacle. Quebec to bed, eat carriage if you are a girl Here vou YOouU aro win a tricycle or her AND BOOTS Famous Girls‘ C.CLM. Tube â€" Skatts, comâ€" plete with Boots, SK ATES a lilttle GIRLS ONE PAIHK iph~Chronicl PHONEKE 3640 wer‘s point ich is sighted, at when walkin:g in sight worth seeâ€" ar merely guzzles _ clownish thing natural in ind PAGE THRER 3 First Ave Phone 217 ho a dandyv on as peanuts ted. For foot when in thos chaiece Y doli