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Sweeping Verdict Given Validating Mar- riage in Famous Hebert Case A despatch from Montreal says : In a judgment it is impossible to Conceive could be more sweeping, Mr. Justice Gharbonneau on Thurs- day morning "wiped the ne temere decree off the map of Canada," to use the words of a prominent Mont- real Lawyer, when h delivered his pronouncement on the famous He- bert-Clouatre marriage case. So sweeping is it that it more than sur- prised the lawyers interested in the case, while Rev. Mr. Timberlake, who performed the ceremony, eaid It "fairly took his breath away." His Lordship's findings, in short, err as follows : 1 That the ne temere decree is of absolutely no force in the Pro- vince of Quebec as far as the legal aspect of marriage goes. He holds that it is a decree which has spiri- tual obligations only, and that its jurisdiction in these spiritual mat- ters does not affect anyone outside the pale of the Roman Catholic Church. tie* Laurendeau erred when on March 23, 1911, he gave civil effect to the annulment of the marriage | done by the Roman Catholic au- thorities. All of this is contained in the last part of the judgment, which is as follows : "Basing itself on the motives given above, the court declares the marriage of the said Emma Cloua- tre and Eugene Hebert, celebrated V>n the 14bh of July, 1908, before Rev. Wm. Timberlake, on produc- tion of a license of the 9th of July, 1908, good ar.d valid, declares that the decree promulgated by the con- gregation of the council of the Roman Catholic Church on the 2nd cf August, 1907, starting with the words 'ne temeFe,' has no civil ef- fect, and that the decree of the or- dinary of the diocese of Montreal, dated November 12, 1909, produced in this case by the plaintiff, has no judicial effect in the said case." Each party is to pay its own costs. MAKING SAFE INVESTMENTS WHY SHARES RISE OR FALL SHARPLY WHEN EARNINGS ARE GOOD OR AO, WHILE BONDS MOVE NARROWLY. Shares Depend for Their Market Price on the Amount of Dividend! They Can Produce Bonds Cannot Pay More Than Fixed Rate of Interest, so Good Earn- ings Cannot Help Bond Holder Beyond Adding to His Security. The articles contributed by "InTestor" are for the eole purpose of guiding pros- pective investors, and. it possible, of sav- ing them from losing money through placing it in "wild-cat' enterprises. The impartial and reliable character of the information may be relied upon. The writer of these articles and the publisher of this paper have no interests to serve in connection with this matter other than those of the reader. (By "Investor.") Even if, as was pointed out last week, I shares involve no promise of repayment, j they usually command a readier market 1 than bonds. Shares listed on any of the large stock exchanges are always in de- | mand at some price, but unlike bonds of j proportionate merit, the price is subject at times to wide fluctuations. This constitutes one of the chief weak- nesses of shares as investments. The share depends for its intrinsic value first on the amount ol the assets of the com- JUDGE, CHARBONNEAU HEARD THE FAMOUS MARRIAGE: CASE "The ne temere is a religious de- cree only," he said, "and its in- fluence is confined to spiritual mat- ters only, and in no way has any effect on the legality of marriage." 2 His Lordship holds that the marriage performed by Rev. Wm. Timberlake, Methodist clergyman, between Emma Marie Clouatre and Eugene Hebert, on July 14th, 1908, is now and has always been perfect- ly valid. 3 The court holds that no matter what the reJigious persuasions of the contracting parties are, any duly authorized clergyman can per- form marriages which are perfectly legal in the eyes of the law of the Province of Quebec. 4 The court holds that the an- nulment of the Hebert-Clouatre marriage by the Roman Catholic authorities of Montreal on Novem- ber 12, 1909, is of absolutely no ef- fect as far as the- legality of the marriage is concerned. 8 The court holds that Mr. Jus- It is doubtful that the Church authorities will appeal, as the He- bert judgment has no more effect than other decisions as strongly up- holding ecclesiastical law. but He- bert's lawyer says he will appeal if the money is forthcoming. There was a tremendous crowd in the court when the judge appeared on the bench, while the corridors leading to the court were blocked with spectators and lawyers. The judgment took his Lordship over an hour to read. NOT FINAL DECISION. Judge Charbonneau's decision does not finally settle the question of the status of the marriage law in Quebec. In another case an- other judge might give a decision diametrically opposed to this ver- dict, and the issue will remain un- settled until a decision is secured by appeal to the court of last resort, which is the Privy Council, or un- til the law is changed. GILtETT$ reiffUMED CAUTION. Put a strong glass on the label and examine it closely every time. Always look for the name "Gil left's." Like all good articles, which are extensively advertised, Gllletf 8 Lye is frequently and very closely imitated. In some instances the imitators have actually copied directions and other printed matter from our label word for word. Be wise, and refuse to purchase imitation article^ for they are never satisfactory. Insist On Getting Gillett's Lye and to accept anything- that looks to be an imitation or that is represented to be "just as good" or "better," or " the same thing." In our experience of over fifty years in business we have never known of an imitation article that has been a success, for imita- tors are not reliable people. At the best the "just as good" kinds are only trashy imitations, so decline them with thanks every time. E. W.GILLETT COMPANY LIMITED TORONTO. ONT. MONTREAL. agcr of the company advised a friend to purchase. "What assets are behind the stock," asked the friend, who was of a pany left after the amount of bonds and ' nature not given to taking such "tips" on other liabilities are deducted, and sec- ondly. on the amount of profits which j trust. "Not a dollar," said the G. M., "but the company Is earning enough to are resulting from the business being lay aside a substantial sinking fund to - REPORTS FROM THE LEADING TIUDE CENTRES OP AMERICA. Prices ->f Cattle. Grain, Cheese and Other Produ.ee at Home and Abroad. BEEADSTUFFS. Toronto. Feb. 27. Flour Winter wheat. 90 per cent, patents, $3.75 to $3.80 at sea- board, and at $3.85 to $3.90 for home con- The reason for this is often OTerlooked. of business its bonds would be retired at ' sumption. Manitoba Hours- First patents carried on. If profits aro poor as a re- pay off the bonds before maturity, and suit of an off year, the shares decline in to provide a very fair dividend on the Block. " The next year two dividends of 1 per cent, each were paid; the neit year the the market: if, on tho contrary, profita are largo the price of shares tends to rise. In the caso of bonds, however, even those of a company whose shares are return totalled 3 per cent., last year 4 eubject to sharp fluctuations, the price is per cent, was paid in regular dividends, usually unchanged, except, perhaps, a and, in addition, a bonus of 1 pr cent. matter of a point or two In extreme cases additional was handed out. This year the unless the bonds are of an unusually company should pay 6 per cent. speculative nature. Now, if this company were to go out PRICES OF FARM PRODUCTS although the fact itself is a matter of everyday knowledge to anyone interested In investment matters. A bond, as readers of these articles par and its stock would be represented by aeeets chief of which ar included under the head of "good-will." Good-will may be properly reckoned as an asset only $6.60; second patent!, $6. and strong bak- ers'. $4.80, on track, Toronto. Manitoba wheat No. 1 Northern. $1.- 13. Bay ports; No. 2 Northern at 11.10. a promise to pay a certain rate of in- terest at certain times. Whether the com- In the case of liquidation its value van- ishes-and so from a strictly investment pany docs well or ill. to long as it makes point of view the company's shares are ample to provide for bond interest, the intrinsically worth very little; their quo- bondholder is secure. Of course, most tation of between 80 and 90 representing good bonds are bai-ked by earnings, run- their value merely as sources of dividends, ning from double to many times the bond It is easy to see from this extreme interest. Therefore, an off year cannot case why stocks fluctuate violently in re- affect the bonds' value materially, nor (lection of good or bad business being can a good year offer any hopes of a greater return on the investment. In the case of the share, however, con- degree, ditions are reversed iwe do not speak of ' "preferred" (hares, which will be consid- ered soon at some length). The share know, is a mortgage bearing on its face so long as the company is doing business. ' and No. 3 at $1.06. Bay ports. Feed wheat, all-rail. 741-2c. Ontario wheat No. 2 white, red and mixed, 95 to 96c, outside. Peas- Good shipping peas, $1.13 to $'..- 25, outside. Oats-Car lots of No. 2 Ontario. 45 to 46c. and of No. 3 at 43 to 44c. outside. So. 2. 48 to 49c, on trick. Toronto. No. 1 extra W.C. feed. 49c, and No. 1, 48c. Bay ports. 501-2c; No. do.. 49 to 1-Zo. Barley- Malting. fl.04 to $1.05. Biu:kwheat-Malt- ing. $1.04 to $1.05. Buckwheat No. 2, 78 to 73c. Flour Manitoba Spring wheat paO ents. firsts, $5.60; do., seconds. $5.10; strong bakers', $4.90; Winter patents, choice, $5.- 10 to $5.35; straight rollers, $4.65 to $4 7S| do., bags, $2.15 to 82.25. Boiled oats, bar- rels. $5.05; bags, 90 IDS., $2.40. Bran $24; shorts. $26; maid 1 ings. $28; mouillie, *28 to $34. Hay No. 2. per ton, car lots. $1$ to $15.50. Cheese Finest Westerns, 15 1-4 to 151-2c: finest Easterns, 141-2 to 15c. But- tor Choicest creamery, 33 to 34c ; seconds, 32 to 321-2c. Eggs-Fresh, 38 to 40c. Po- tatoesPer baa, car lots, $1.70 to $1.80. UNITED STATES MARKETS. Minneapolis. Feb. 27. Wheat May, $1.. 041-2; July, $1.055-8 to JL05M; No. 1 hard. $1.05; No. 1 Northern, 81.041-2; No. 1 Northern, $1.02 to $1.021-2; No. J wheat. $1.00 to $1.00 1-2. No. 3 yellow corn. 62 to 43c. No. 3 white oats. 49 to 49 1-Ic. No. 1 rye, 87 l-2c. Bran. $25 to $25.50. Flour- First patents. $4.90 to $5.20: do., second patents, $4.55 to $4.80; first clears, $3.3t to $3.65; second clears, $2.20 to $2.60. done, while bonds are not subject to such movements, except to a very moderate EOUSTON SWEPT BY FIRE. floes not Involve a promise to pay its face value back at any time, nor does it Alined by promise any income to the shareholder. If the company makes substantial pro- fits the directors may consider it wiso . Over '-Till Buildings Were Destroyed. A despatch from Houston, Texas, says : Impelled by a g;t!e that swept Barley Forty-eight Ibs. quoted at 95 to %c. outside. Corn No. 3 American yellow, 70 1-2 to 71c, Toronto freight. Hye No. 2 at $1.08 to $1.09. outside. Buckwbpat-70 to Tic, outside. Bran- Manitoba bran, $25. in bags, To- ronto freight. Shorts, $26.50 to $27. COUNTRY PRODUCE, LIVE STOCK M.\K::ETS. Montreal. Feb. 27. Butchers' cattle, choice. {7.00 to $7.25, do., cattle, medium. $5.60 to $6.75; do., cattle common. $3.50 to $5; canncrs, $275 to $3.25; butchers' cat- tle, choice cows. $5.50 to $5.75; do., cattle, medium, $3.75 to $4.75; do., cattle, bulls. 83.50 to $6.00: milkers, choice, each, I7S to $80: milkers, com. and medium, each. $50 to $65; springers. $30 to $45. Sheep, ewcc, $4.50 to $4.75: bucks and culln, $3.T9 to $4.25; lamb?, $6.50 to $7. Hogs. !.!>., $7.35 to $750. Calves. $2.50 to $8.00. Toronto. Feb. 27. A few bunch?s ol choice butcher cattle sold from $6.30 to S6.65. but the general run of good cattl* ranged from 85.85 to 86. Two prirao export cattle bought for feeding fetrhtd 16.86. They weighed 4,510 pounds each. There was a fairly active mi\iirv for utooker* of good quality at 84. M to $5.25. COUTH wern easy at $4 to $5. r.ml bulls were Common caul. CONSUMPTION SANITARIUM. Hebrews of Montreal Have Raised $500,000. A despatch from Montreal eays : The Hebrews of Montreal, who have I just embarked upon a campaign to : raise $500,000 for a consumption '. satitarium at Ste. Agathe, Que., reached that sum on Wednesday morning. Collection will continue, | notwithstanding tho amount want- ed has been obtained. EABIIMS OF THE T. i 1. 0. Net Eeceipts of the Provincial Railway Total $593,152, In the annual report of the Tem- Iskaming & Northern Ontario Rail- way, presented to the Ontario Leg- islature on Thursday, there is an increase, in operating expenses over 1910 of $16,637.27, although there has been a decrease in the percen- tage from 73.2 to 66.4, while the to- tal net earnings for the year are $593,152.69, compared with $436,- 130.31 for 1910, which represent 33.6 per cent, of the gross earnings for 1911, as agaiust 26.8 per cent, for 1910. The total revenue from transpor- tation for the. year was $1,708,249.- 02; from sources other than trans- portation, $72,715.81, making a total operating revenue of $1,780,369.83. The operating expenses were $1,- 181,998.63, as compared with $1,- 165,361.36 for 1910, making the net operating revenue $598,966.20 and $426,490.66 respectively, which, in- cluding ore royalties of $17,060.56, give a total net revenue of 616,026.- 76 for 1911, as against $458,253.58 for 1910. Ore royalties for the year ehow a failing off of $20,702.36. De- ducting from the total net revenue the cost of hiring equipment, etc., for i-he year named, $22,874.07 for 1911 and $22,123.27 for 1910, the to- tal net earnings for the road are $593,152.69 for the year ending Oc- tober 31, 1911, and $436,130.31 for the same period in 1910. In respect of these earnings a cheque for $515,000 was paid to the Provincial Treasurer, while the 1910 payment was $420,000. The itemized pay-roll of the rail- way for operation shows payments amounting to $748,522.65, and $34,- 696.24 for construction, which repre- sents a total sum paid for labor of $783,218.89. I The total mileage in operation is j 397.63, which includes branches to Charlton, Kerr Lake, Haileybury, Porcupine, together with yards and sidings. The main line from North Bay to Cochrane is 252.8. Net earn- ings for the year increased $189,- 122.81, which is principally due to traffic to Porcupine gold camp, "al- though the opening of the rich clay belt and increased agricultural op- erations are becoming important." to "declare a dividend"-i.e.. divide the in with one of the coldest northers j Apples -Good stock, $3 to $4 per barrel. profits pro rata among the shareholder!.. o f the Winter, flames swept clean Beans Small lots of hand-picked. $2.35 nsuallly on a basis of so much per cent, through the eastern section of to $2.40 per bushel. on tho par value of each hare. In this Houston early on Wednesday morn- Honey- Extracted, in tins. 11 to 12c per case the share tends to rise in price. Ir- ing. At least twenty-five blocks of Ib. Combs, $2.50 to $2.75. respective of whether there are any ts- the city have been destroyed, COV- Baled Hay-Fair; No. 1 at $15.50 to $16. sets behind it to make its intrinsic value ering an area om.' and one-half on track, and No. 2 at $12 to $13. greater or not. As a rule, the market miles long and at points one-quar- Baled Straw- $10 on track. Toronto. price of shares (not the intrinsic value, ter mile deep. Streets of cottages Potatoes- Car lots, in bags, $1.65. and Heady at $3 t remember, which alone depends on the wer e destroyed, Several big manu- Dclawares at $1 85. Out-of-store, $1.80 to we j'' value of the assets) depends primarily on facturing plants were burned $1.90. 50 to $8 for I'hoiToner the company s ability or not to pay divi- [ down, and thousands of persons Poultry-Wholesale prices of choice ' wer o unchanged in prices, although hoc* dends - j are homeless. The losses are con- dressed poultry Chickens. 12 to 15o per c were firmer. Take a concrete case. A few years ago servatively set at from six to ten ID. ; fowl. 9 to Iflc; geese, 13 to 15o; ducks, a company was formed to manufacture a million dollars. About $5,000.000 12 to 14c; turkeys. 20 to 21c. Live poul- certain well-known breakfast food. At o f this is confined to the niamifac- try, about 2c lower than the above, that time the product was not well turing. lumber and cotton indus- known, and its market problematical The tries. Forty-five thousand bales of company was organized and Boated in co tton stored in warehouses and the States, and bonds were sold equalling compresses were burned. This in amount the total value of the visiblo item alone represents a loss of assets. The stock that was given away lj>2.000,000. with the bonds at the time had-in tho o f eo tton destroyed with the Stand- i n usual nature of bonus stock-no intrinsic ar <l Compress 'in the conflagra- value. In time the company prospered. BUTTER, EGOS, CHEESE. Butter Dairy, choice, in wrappers, 29 to 32c; large rolls, 28 to 30c ; and inferior, tubs, 20 to 21c. Creamery quoted at 36 Besides the 45,000 bales to J7c tor ro ii 8 , 34 to 35c for solids, per The ^ w ith cotton bales were burned, stockjjold at 40. and the General Man- Tne number of homes and stores burned amounts to more than 250. 10=1 n Let "Dick" U 8 Choose Fin your bird's lead dish abash With the ad you 1 have b a n using, than put some of BROCK'S wit h t n re* h. and ia h ow quickly Dick picks out " Brock's". Faad him for m month on BrocK'ti Bird Seed let him enjoy the cka of Brack's Bird Tract that comes In every box and notice the Improvement In his plumage, health and song. Let "Dick" try this Bird Tonic at our expense. Mall us the coupon below, filled In, and we will aend you, absolutely free, two full-die cakes of Brock's Bird Trail. 45 NICHOLSON c BROCK 9-11 Francis St. , Toronto. For this coupon pleasa send me, free of charge or obligation on my part, two full size cake* of Brock's Bird Treat, and oblige. ricans, 37 to 38o per dozen. tion, 36 Southern Pacific cars load- > and 8 trictly new-laid Canadians, 38 to 40o ELK LAKE BRANCH. Chairman Englehart Says Line Will Start From Earlton. A despatch from Cobalt says : Chairman Englehart of the T. & N. O. Commission made the an- nouncement here at noon on Wed- nesday that the Elk Lakt> branch of the railway would start from Earlton, 25 miles north of here and ten miles south of Englehart. The new line will be 30 miles in length, and run through ninety per cent, farming country. It was at first thought the branch line would go in from Charlton, but the excellent farming country that will be open- ed up by the new route was taken into consideration. per dozen, in case lots. Cheese Large, 16 l-2c, and twins at 163-4o per It. HOG PRODUCTS. Cured meats Bacon, long clear, 11 1-2 to 11 3-4e per ID., in case lots. Pork Short cut. $22.50; do., mess, $19.50 to $20. Hams Medium to light, 16 to 161-2c; heavy, 14 to 141-2c; rolls, 103-4 to lie; breakfast bacon, 16 to 17c; backs, 19 to COo. Lard Tierces, 12 l-2c. 12c; tubs. 121-40: pails. MONTREAL MARKETS. Montreal, Feb. 27. Oats- Canadian West- ern, No. 2, 531-2 to 54o; do.. No. 3, 51 1-2 to 52c: extra No. 1 feed, 521-2 to S3c; No. 2 local white, 51 to 511-Zc; No. 3 do., 60 to Used in Canada for over half a century used in every corner of the world where people suffer from Constipation and, its resulting troubles Dr. Morse's Indian Root Pills, stand higher in public estimation than any others, and their ever- increasing sales prove their merit. Physicians prescribe them. 3 25c. a box. TWENTY KILLED IN CYCLONE. Houses and Live Stock Destroyed In Louisiana. A despatch from New Orleans says : Twenty persons were killed and at least three score injured, many of them seriously, in a cyclo- nic storm which swept through a strip of northern Louisiana and Mississippi Tuesday evening. Doz- ens of small houses were blown down and many cattle killed. PROFITABLE POWER BONDS Q Many of Canada's shrewdest and best informed investors have bought Western Canada Power Co. Bonds. At their present price of 90 they pay over 5V'o. The plant is located 35 miles from the growing cities of Vancouver and New Westminster, B.C. and has secured perpetual water rights from government. Can develop 100,000 H.P. as demand increases and should earn this year three times bond interest. Engineer in charge, R. F. Hayward successfully constructed Mexican Light Heat & Power Co. In addition to high rate of interest bonds should appreciate considerably in next year. Directorate includes Sir Max Aitken , C. H. Cahan ; A. R. Doble, Secretary Bank of Montreal ; Jno. Hendry ; Wm McNeill, Vancouver; Mr. Campbell Sweeney, Manager Bank of Montreal, Vancouver. This is an exceptional investment opportunity from standpoint of both security and interest. Write us for full particulars. ROYAI SECURITIES IV U I /\L, CORPORATION LIMITED BANK OF MONTREAL BUILDING - . . YONGE AND QUEEN STREETS TORONTO MONTRB.AL-OUBEC-HALIPAX-OTT*WA ' WUITF r> 1C. Manaser LONDON UNO.'*