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I 1 * ' We onVr, on behalf of the owners $250,000 7* Cumulative Preference Stock OK THE ARENA GARDENS OF TORONTO, LIMITED at $9rj.OO por share of $100.00, \\illi bonus of 40% of par value in Common Shares. Application Mill opi-nrd at the offices of the underlined on Tuesday, Ifnrrh 5th. and will c-lose not later than three o'clock on Tutidar. March 12th. The nrht it reserved to allot only nm-h applications and for Muh amount! aa may be approved, a ad la close the application list! without notice. Additional application forms undersigned: will b* supplied OD requeit by the Members Toronto Stock Eichanfe. Traden Bank Building. Toronto. PELI.ATT & PKI.LATT, THE CROWN TRl'ST COMPANY, e6 Notr 5, D n a t ?/ al 8trcs *' w> Ary Branch of LA BANQl'E INTERNATIONALE DU CANADA, Head Office, MONTREAL Subscription Lists Opintd en Monday, March 4th, and Will ClMt on or tor* 3.N p.m. on Monday, March nth, 1112. Vir Own aud Offer, subject to prior Rale, at 96 and Accrued Interest SJ 250,000 Twenty-Year First Mortgage 6% Gold Bonds of the P. Lyall & Sons Construction Co., Ltd. (Incorporated under the Laws of thi Dominion of Canada.) BOND ISSUE Authorised. Issued. 20-Year First Mortgage 6% Bonds $1,250,106 11,251,011 Bonds dated Feb. 1st, I9tj Due Fib. 1st, 1(31. Interest payable at th Quebec Barings and Trait Company. Montreal. February 1st and AuKait lit. DENOMINATIONS: $1000, $500 and $100 Kull particulars concerning the Comp any, as also copies of the Company's financial statement, the appraisals and real estate reports, will be found in fall in the prosi>octun. copies of which, along with additional application forms, may bn obtalnaa from the undersigned and all members of the Montreal and Toronto block Exchanges: Ql'EBEC SAVINGS & TRUST COMPANY, 1 * N8lr * "j^in*' WMtl THE MOLSON'S BANK, MONTREAL, OR ANY OF ITS BRANCHES. GREENSHIELDS & COMPANY, Members Montreal Stook Exc!un, tj ST. SACRAMENT STREET, MONTREAL. BODNDilY mm Minns WHERE "PREFERRED" AND COMMON STOCKS DIFFER. Premier Whitney Announced Terms of Dominion Government's Order Sir JanK., Whitney announced in the Legislature the results of an or- der di-l.vfivd l>y the Dominion Gov- ernment, giving the Province run- ning rights through her sister Prov- ince, and certain parcels of tax- free land mi the Nelson River and along I he Hudson Bay itself. Sir James Whitney briefly explained the Federal order before reading its text. Approach to Hudson Hay is gained by a live-mile strip of land running from the proposed new boundary of .Manitoba to the Nel- son River, and terminating in a half mile strip of land along the eastern shore uf the Nelson River and the Hudson Hay. Provision ia hereby miule for railway terminals, docks,, awl elevators; but the ex- tent of these strips along the river and bay must not be greater than ten miles. Access is thus given to Hudson Hay for the Temiskiuning and Northern Ontario Railway ; and should this railway desire to extend its terminal facilities to Fort Churchill, an additional right of way 200 feet in width from Kelson River to the nearest available point on the Hudson Bay Railway is -ranted. The T. and N. O. would then bo granted running rights to Fort Churchill for the remaining distance over I lie Hudson Hay line by the Dominion authorities. Th strip from the boundary to the Kelson River will be transfer- rod to Ontario either by grant or by itatute iijM>n tne Provincial (jovernment making known the lo- eation preferred, providing that lo- cation is not more than lifty miles from the shore of Hudson Bay at any point. For the selection of these lands Ontario is allowed a period of five years. MAP SHOWING BOUNDARY SETTLEMENT HON. KHWAIW BI.AKK I) KAI). Onliirio Lows a l)i*iiiiBiii*liel Na- tive-Horn Hon. A despatch from Toronto says' Hon. ICdwnrd Blake, K.C , I.L.U., died at his home, 449 Jams street, shortly before 7 o'clock on Friday night after a lingering illness. About two weeks ago Mr. Blake's condition took a change for the worse. He frank rapidly, and Fri- day afternoon it became apparent that the end was near. l)r. \\m. Ooldie, who was in attendaix (', Bummoned the mem'iei.s of l'n> family to the bedside nf the di; tingnished Canadian. Mr. l!lal<:' lost, consciousness about half an hour before death. As he breathed his last bo was surrounded by his wife, Mr. Hume Hlake, K.C., a son, Mrs. (Prof.) Q. M. Wrong, a daugh- ter, and Dr. Uoldie. Mr. Samuel Blake, another son, is at present in F.ngland, and wan advitied of his father's decease by cable. Wnhnsh firemen in Canada have been placed on nn equality with t'.P R. firemen regarding pay nnd conditions. The Ontario G >nd RadH Associa- tion decided to a k $50,000,000 from I he Dominion Government for road improvement. The report of the Minister of Education showed that the Province suffer? fr.im lack of teachers. A Very Important Medium of investment Comes Ahead of Common as Regards Assets and Dividends -Usually No Vot- ing Power Only an Equity, However, Not a: Hi;;h Class Investment as Bonds Classes of Preferred Shares. The articles contributed by "Investor" are for the sole purpose of guiding pros- pective investors, and, if posHible, 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. Tha 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.") To the uninitiated the distinction be- tween shares and bondi ia confuted by a similarity of term a. In England the term "stock" refers to what we know as "de- bentures" or "bonds" usually those is- sued by a municipality or government, although there are several unimportant points of difference. The term "stock" here usually refers to what the English call "shares" - which term has been super- ceeded in the si.it, -. and to a large ex- tent here, by the former. Then, to add to the r.'iil 11 -HIM. there is a security known as debenture block. and there are other terms more calculated to confuse than elucidate. Last week, the expression, "preferred stock." was used. Thie is a form of se- curity which cannot be passed over in the consideration of investments. While what in known as "ordinary," or "com- mon." stock has long been known to fi- nance, "preferred." or "preference," stock is a comparatively recent inven- tion. During the financial crisis of a generation ago the railways were hard put to finance. They li.nl no property which they could mortgage and i?vuc bonds on and their commou stock cupi- I tal .i already too largo and selling at i too low a price to mako it worth while , selling It to investors. So Necessity pro- duced the "preference" share. This hccnrity. like common stock, is but an equity coming aftrr the bonds, but it j Is preferred as to as-set* and dividends. and therefore comes ahead of the com- mon. or any other class of stock. <;.-n- (rally Bpi-akiiiir. a preferred stock carries < a lined .In iil'-nil, which, in the majority of rapes does not vary much from 7 per i cent. '*c!iK>m higher, but in many cases lower). As n rule, however, preferred | HliureK do not us do the common thares of a company carry any voting power. That is. the preferred shareholders linve no vote for directors, and therefore, no say in the miinufitient, or in xliaping , thu policies of the company. When this i class of stock was invented it took rapid i hold, and now uluioxt every joint stock 'company has for convenience of financing I a certain part of its capital in the form ' of preference stock. This i IIIHS of stock has now become a favorite form of business men's Invest- ' inn.! Involving, as it does, no promise* > to return its face value at any time, and with its ilivuli IH!M depending wholly on the ability of the company to parn them, preferred stock cannot, as a class, rank as high an investment as would a bond; but there IB always morn chance of an advance in price, just as there is more chance nf a break. However, preferred shares cover nuite a variety of classes of themselves, and so tho above description can be taken only as a very general outline of the whole For example, the dividend on preferred shares does, of course, depend upon earn- ings. and in the case of the, usual class of preferred shares, If the dividend is not paid that is an end of the matter until the company agalh gctH into a po- sition to pay a return to the preferred eh arch i. Id i- is. Su.'h shares merely involve a proml*r if they r 'e say 7 per cent preferred shares to pay seven per cent. on the preferred before anything can be paid on tli common. Whore, the shares, however, are "cumulative," It means that not only are they preferred, but that if the dividend is not paid in any one year It Is still due the shareholder, and if, as in the. case of Dominion Steel cumulative preferred shares, the divdcnd were not paid for six years, there is a small mat- ter of n per cent, of accumulated divi- dends coming to the preferred share- holders before anything could be paid on the, common. This feature, while most pleasing to the preferred shareholders of the Dominion Kteel Company, meant that until tho $42 a share was "forked out" to them the common shareholders would receive nothing. And they had no chance, of receiving anything until not only was the 442 paid, lint the $7 for the year then current wan earned, as well as Kiifllcipnt for any small dividend it has been but 4 per cent, so far in tho com- pany's history which they might receive. 80 the cumulative feature is a very Im- portant consideration for the prospec- tive investor in preferred shares, but uhonld be looked at ankancn by anyone couriering the common stock of such a company utilcas they are prepared to take chances. Neit week other features of preferred shares will be taken up by Investor. PRICES OF FARM PRODUCTS KKFORT9 FROM TIIK LEADING TRADE: CENTRES OP AMERICA. Prices of Cattle, '.rain. Cheese and Other Produce at Homo and Abroad. BREAD3TUFF8. Toronto. Mar. 5. Flour Winter wheat. 90 per cent, patents, $3.80 to $3.85, at Hea- board, and at $3.90 to $4 for home con- sumption. Manitoba flours First patents, $5.50; second patents, $5, and strong bak- ers'. $4.80, OD track, Toronto. Manitoba wheat-No. 1 Northern, $1.- 13. Bay ports; No. 2 Northern at $1.10. and No. '. at $1.06, Bay ports. Feed wheat, all-rail. 74 1-Zc. Ontario wheat No. 2 white, red and mixed. 95 to %c, outside. Peas Good shipping peal, $1.20 to II.- 25, outside. Oats Car loti of No. S Ontario, 45 to 46c. and of No. 3 at 43 to 44c, outside. No. 2, 48 to 49c. on track. Toronto. No. 1 extra W. C. feed. 49 l-2c. and No. 1. 481-2c, Bay ports. Ji.u-K-y 48 IDS. at 95 to %<. outside. Corn No. 3 American yellow, 71 l-2c, To- ronto freight. Kyi- No 2 at tl.05 to 11.06, outside. Buckwheat 70 to 71o. outside. Bran Manitoba bran, $25, in bags, To- ronto freight, shorts. $26.50 to $27. COUNTRY PRODUCE. Apples $3 to $4 per barrel. HIMMI Small lots of band-picked. $2.35 to $240 per bushel. Honey -Kxtraeted. in tins. It to !2c per Ib. Combs. $2.50 to $2.75. Baled Hay-No. 1 at $15.50 to $1650, on track, and No. 2 at $12.50 to $13.50. Baled Straw $10 on track, Toronto. Potatoes Car lota, in bags, $!.65. and Deluwures at $1.85. Out-of-store. $1.80 to (1.90. Poultry- Wholesale prices of choice dressed poultry Chickens. 12 to lie per Ib. ; fowl, 9 to lOc: geese. 13 to 15o; ducks. 12 to 14o; turkcyx, 20 to 21c. L-ive poultry, about 2c lower than the above. FOR MAKING SOAR SOFTENING WATER, REMOVING PAINT, DISINFECTING SINKS. CLOSETS,DRAINS,ETC. SOLD EVERYWHERE REFUSE SUBSTITUTES TROOPS IDTINY Thrilling Experiences in Pekin. Mission- aries Holding Out in Compounds BUTTER. EGG8, CHEESE. Butter Dairy, choice, in wrappers, .0 to 12r; large rolls, 29 to Jlc. and inferior, tubs, 20 to Zlc. Creamery quoted at 37 to iBc for rolls. 34 to J5c for solids, per Ib. Eggs Case lots of new-laid, 3io por doten. Cheese- Large quoted at 165-4 to 17e. and twins at 17 to I71-4o per Ib. II OO PRODUCTS. Bacon- Long clear. 111-2 to 11 J-4c per Ib., in case lots. Pork - Short cut. $22.50; do., mess. 19.50 to $20. llamn Mrd.uiu to light, 16 to 161-2c; heavy. 14 to 141-2c; rolls, 103-4 to Ho; breakfast bacon. 16 to 17c; backs, 19 to 20c. I. Hi? Tierces, 12c; tubs, Ul-4o; pails, 12 l-2o. BUSINESS AT MONTREAL. Montreal, Mar. 5.- Oats Canadian Western, No. 2, 53 to 5Jl-2c; do.. No. 3, 51 to 511-2c; extra No. 1 feed. 52 to 521-2c; No. 2 local white. 501-2 to 51o; No. 3 do., 491-2 to 50c: No. 3 do.. 481-2 to 49c. Bai- ley Malting. $1.05 to -'.10. Buckwheat, No. 2. 72 to 73o. Flour M.i-i t,>l>a spiing wheat patents, firsts, $5.60; do., seconds, $5.10; strong bakers', 14.90; Winter pat- ents, choice. $5.10 to $5.35; straight roll- era, 14.65 to $4.75; do., bags. $2.15 to 12.- 25. Rolled oats Barrels. $9.05; bags. 90 Ibs.. $2.40. Bran-$24 to $25; shorts. $26 to $27; middlings $28: mouillie, $30 to $34. Hay No. 2, per ton, car lots, $15 to $15.50. Cheese- Finest Westerns, 15 1-4 to 15l-2c; finest Easterns. 141-2 to 15o. But- tor - Choicest creamery, JJ to 34c; seconds, 321-2 to Mr. Eggs Fresh. 38 to 40o. Po- tatoes- Per bag, car lots. $1.70 to $1.80. UNITED STATES MARKETS. Minneapolis, Mar. 5. Wheat May, $1.063-4 to $1.067-8; July, $1.08; No. 1 hard, $1.077-8; No. 1 Northern. $1.067-8 to tl.- 073-8; No. 2 Northern, $1.047-8 to $1.053-8; No. J wheat. $1.03. Corn-No. 3 yellow. 62 to 63o. Oats No. 3 white. 49 to 491-2c. Ityc No. 2. 86l-2o. Bran $25 to 825.50. Flour first patents, $5 to $5.30; do., sec- onds. $4.65 to $4.90; first clears. $3.40 to $3.75; do., seconds, $2.30 to $3.70. Buffalo, Mar. 5. Spring wheat No. 1 Northern, carloads, store. $1.16; Winter, A despatch from Pekin says : A mutiny of Yuan Shi Kai's soldiers started in Pekin at 8 o'clock on Thursday night. Many of the. na- tive's have been killed or wounded, but so far as is known all foreign- ers are safe. The Legation quarter is crowded, but the missionaries are holding forth in their own com- pounds. When the outbreak oc- curred it was estimated that 2,000 | soldiers took part, but since then I the mutineers have been augmented ! by large numbers of the police, j coolies and loafers. The Legations know no reason for the outbreak. | Th? idea is expressed that Yuan Shi Kai's soldiers began the trouble i when they learned that he intended | to leave the capital for Nanking. The soldiers are everywhere looting from house to house. They have not spared even the foreign resi- dences within one block of the Le- gation quarter. Fires were started in various sec- tions, and territory of more than a mile in area has been burned. This stretches from the. Forbidden City to the building of the Chinese For- eign Board, where Yuan Shi Kai re- sides, the flames reaching within half a mile of the Legations. Tha ; quarters occupied by the Nanking ! delegates who came here to notify ' Premier Yuan of his election as Pre.side.it have been enveloped in flames. Much reckless shooting ha* occurred, and one shell, which fell into the compound of the American Legation, tore through a tent of one of the soldiers of the recently- arrived reinforcements, but did not < xplode. Refugees at the American Legation had thrilling experiences as they traversed the streets in which the Chinese troops were en- gaged in looting. The soldiers did not attempt to interfere with them, but there was great danger from flying bullets and fire brands, which were flourished in all directions. Mr. W. D. and Mrs. Straight saved ! their records and valuables, but deserted a richly-furnished house, I which was given over to the looters. No. 2 red. $1.01; No. 3 red. We; No. 2 white. $1. Corn -No. S yellow. 69c; No. 4 yellow, 671-2r. all on track, through billed. Oats N. 2 white. Si3-4c; No. 3 white. 561-4o; No. 4 white. S5 l-4o. Barley -Malting. $1.20 to SI 32. LIVE STOCK MARKETS. Montreal. Mar. 5. Butchers' rattle, choice. $7 to $7.25: do., medium. 15.50 to 16.50: do., common, 14.50 to $5; butchers' cattle, choice cows, $5.50 to $5.75; do., medium. $3.25 to $5; do., bulls. $3.75 to $5; milkers, choice, eacb, $75 to $80; do., com. and medium, each, $50 to $65: Spr in BITS. $30 to $45. Sheep Ewes. $4.75 to $5: bucks and culle. $4 to $4.50; lambs, $6.75 to $7. llogs-F.o.b., $8 to $8.25. Calves $3 to $10. Toronto. Mar. 5. Fairly good butcher- ing utixTB and heifers changed hands at from $6 to $6.50 per hundred pounds, while common to medium loads void at from $S.25 to $5.90. Choice butchering cows sold at from $5 to $550 per hundred- weight: good cows at from $4 to $4./5, and common at from $3 to $4. Canncrs were $2 to $2.75. American yearling plieep sold at $7.50 per hundred pounds. On- tario yearlings were steady at $7 to $7.50 for choice, and at fr<>m $6 to $6.75 for culls. Sheep, ewes, sold at from $4 to $5, and biii ks and culls at from $3 to $4. Veal calves changed hands at from $4 to $8.50. Live hogs ranged from $6.00 to $7 per hundredweight for selects, fed and watered at ' + e market?, and $6.60 to 86.- 70 per hundredweight f.ob. cars at coun- try points. The C.N.R. has sold a block of Innd behind the mountain at Mont- real lo n western syndicate for I luce million dollars. William Mollny. Liberal member of the Manitoba Legislature, advo- cated the secession <if the west, in a speech in the HoiiflP. Well, Well! THIS i' ft HOME DYE ANYONE , can use I dyed ALL these DIFFERENT KINDS of Goods -" with the SAM Coye. I used CLEAN an. -I SIMPLE io Use. NO c-!tanr<*of uilngth* \VRON <; Dyi- for th (inod on* htSlo rotor. Atlvolnr* Irom vouf l>rucsit cr !. -r, HU'H Color CtrdMiul .S I OHY .. k . t I ' The Johntnn-HlfhAidiiarl * <> . I i.'i.i .1. Mofilrtftt INFLUENZA IN ENGLAND. Queen-Mother, Prim-ess Itoyul an*] Louise Victims. A despatch from London says : Many thousands of persons in Lon- don are victims of influenza, among the latest sufferers being Queen Alexandra, Princess Victoria and Princess Louise, all of whom wen- prevented by the disease from at- tending the funeral services of tin- Puke of Fife, whose hotly was placed temporarily in the Royal vault at Windsor on Wednesday. Ireland has fourteen thousand acres under fruit cultivation. Anaemia can be successfully treat ed by fruit diet, especially with ba- nnnac. A WOMAN DOCTOR. Quick to Discover What Was Doing the Mischief. A lady tells of a b.id case of x>f- fee poisoning (Tea is equally harm- ful, because it contains caffeine the same drug found in coffee) and i tells it in a way so simple and straightforward that literary bkill could not improve it. "I had neuralgic headaches 01 12 years," she says, "and havo suf- fered untold agony. When I first began to have them I weighed 140 pounds, but they brought mo down to 110. "I went to many doctors and they gave me only temporary relief. So I suffered on, till one day, a wo- man doctor advised me to drink Postum. She said I looked like I was coffee poisoned. "So I began to drink Postum, and gained 15- pounds in the first few weeks and am still gaining, but not so fast as at Gi'st. My head- aches began to leave me after 1 had used Postum about two weeks King enough, I expect, to get the coffee pouon out of my system. "Now that a few months have passed since I began to use, Poa- | tuni, I can gladly say that I never know what a neuralgic hcodachu is like any more, and it was nothing but Postum that relieved me. "Before I used Postum I never went out alone ; I would get bewil- dered and would not know which way to turn. Now I go alone and my head is as clear as a bell. My brain and nerves are stronger ihaa they have been for years." Name given by Canadian Po^tum (.'<.>., Windsor, Out. ''There's a reason," and it is ox- plained in tho little book, "Tho Road to Wellville," in pkgs. Ever read the above latter? A new ont appears from tint* to time. They &rt genuine, true, and full of human Intern.!. .j, Thorokl township passed the by- law to give fixed as^oss-nent to the big paper nnd pulp mill which is to be establi-'m ;| rear the town. Alfred I'l.sseU el Mui'eha.nd town- >!KI . (Quebec, has been arrested <m I the charge of murdering his young I daughter by throwing her bodily 1 .in i-s a room. 55% ON YOUR IDLE MONEY q Western Canada 5% First Mortgage Bonds will unquestionably appreciate considerably m value during the next 2 or 3 years. Investigation proves that Public Utility Bomls of this nature are the most profitable form of investment- for Instance Winnipeg Electric 5,', Bonds sell now at 104 ; Shawinigan Water and Power Co. 5"& at 103; British Columbia Electric Co. 4V6% bonds at I02JJ. The city ami suburbs of Vancouver are growing very rapidly. Western Canada nwjfCo, riant is located 35 mile i from Vancouver and New Westminster. B.C. It supplies the cities andiutroandini territory witli Itctrlc power. Thil company has perpetual water lights from the CantdUn govtrnmtnt. MMV of Canada's Icatlinj; liasm icrs are large holder* of these bonds. Directorate Jncluda S!r Max Aitltcn ; Mr. T. J. Drummond ; Mr. A. R. Doblo, Secretary, Bank of MontTMl ; M i . < ainiibell Sweeney, Manager Hank uf Montreal, Yam Oliver. If you have any money for InVOltment we strongly recommend Western Cana-la Hover Company Bonds yielding over sl/i. Detailed information and lit of landholders will be willingly tent on requeit. ROYAI SECURITIES IVW I /\J- CORPORATION BANK OF MONTREAL BUILDING R. M. WHIT*: M LIMITED YONC.E AND OUF.F.N STREETS TORONTO MONTREAL-OOEBCC-HALIPHX-OTTAWA LONDON (ENO.)