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| Confidence Situation (Feature at Annual Meeting of Royal Bank of Canada Sir Herbert Holt, President, Points Out That Canada, After Ac- Edson L. Passe, Vice-Prosident LA ada by Banks, 'Montreal, Jan, 17.--(8pecial)--A large gathering of shareholders re present at the annual general ing of the shareholders of the Romi Bank of Canada held at the office here, Keen interest was gibplayed in the remarks of the resident, vice-president, and gen- ral manager, especially so those of | latter, wherein he explained the manner in which the affairs ot bank were scrutinized by the dir- rs at Montreal at various points 'throughout the country, and by the ink's auditors, by Bir Herbert 8. Hoit, chairman, before his survey of the general situation, referred to the Bank's position, saying: "I first desire to emphasize the General Manager's statement that all bad and doubtful debts have heen fully provided for. ually the profits of the year are ample to provide for all bad and doubtful debts. Should they not be sufficient, we have a contingent fund, independent of our surplus fund, accumulated during prosper. ous years, to fall back upon. I have further to say that the Managing Director, the General Manager and Executive Officers of the bank are officials of long experience and prov- ed ability, and that the affairs of the bank receive the unremitting atten- tion of myself and your directors. 1 have no hesitation in stating that, in my opinion, the organization and system of supervision in this bank are unexcelled." Economy Strongly Urged. Sir Herbert took a very hopeful view of the outlook in Canada, at the same time emphasizing the im- portance of economy, both in public 'and private life. Dealing with the general situation, Sir Herbert said: "Canada, after accepting every obligation arising out of the con- flict, is stronger materially than be- fore the war. We have our debt and our railway and shipping prob- jems, all of which will tax the wis- dom of our statesmen, but on the other side of the scale we must place the growth of towns and cities, in- dustrial expansion, the increase in savings, and the fact that most of our bonds are held in the Dominion. Compared with conditions in Eur. ope, we are fortunate indeed. "In conclusion, r wish to say that the scope and character of the ex- isting depression in world trade. for- id ms to hope for an early or easy return to prosperity. Yet I do not think that we in Canada need feel any great apprehension as to the future. The unprecedented decline in prices, which was the worst fea- ture of the last year and a half. can hardly be . 1 trust that the period immediately before us will be one of salutary economy, both ia public and private life, the best pre- for renewed prosperity." ~N and 'Managing Director, Draws Attention to Helpful Part Played by Banks During Period of Exceptional Stress--Business Demoralization Averted in Can- the situation, Sir Herbert said, in part: "The year 1921 will long be re- membered as a period of drastic de- flation and liquidation throughout the war, This deflation was under way when we last met, While it is not yet ended, each 'month brings us a nearer approach to normal, The heavy decline in the price of com- modities and check in public huying found many of our manufacturers and merchants in the possession of large unsaleable stocks purchased at boom prices. Obyiously the tran- gition to more normal values was attended by much loss. The fact, however, that there were one thous: and fewer failures in Canada jn 1921 than in 1915 may be attributed to tite abnormal profits accumulated during the war. Managing Director's Remarks, address, dealt more with the affairs of the Bank, and the principal developments. within Dominion. to the situation in Cuba and South | America, saying in this regard: collapse in the price of sugar, I have prosperity. She was prosperous be- fore the wur, when sugar ruled about 2¢ a pound. She has demon- strated in the past her ability to produce sugar at a cheaper rate than any other country. She enjoys the patural advantage of soil and climate and possesses the most mo- | world. A great proximity to the American market. The country has neither curreney problems nor railway deficits to re tard her recuperation and only a small war debt to the United State: of $10,000,000, on which she is paying interest, "In keeping our doors open at ali times, and under circumstances thar compelled the Government of Cuba to declare a moratium 'which uti- mately resulted in the suspension of three local joint stock and several private banks. we have justified the and added to Canada's throughout the Islands of the Car ribean." Discussing the general Canadian situation, Mr. Pease said, in part "The year just ended has proved community and for the banks. ed at home and abroad with many dificuit problems and such adverse conditions. The rapid and severe recession im the prices of all} commodities and the lack of pur-| chasing power involved heavy losses | in inventories and a great shrink- | age of domestic and intermational | the whole world, the aftermath of Edson I. Pease, the Vice-Presl- | "While Cuba suffered through the | no misgivings regarding her future] dern sugar mill installation in the | advantage is her! confidence of our Cuban customers |: prestige |S Never before have we been confrount- 8 so | OSHAWA, ONTA Quebeg Chronicle: A new settler is estimated to he worth $700 a year to the railways, If Canada had a few hundred thousand of them, our National railway defieit would be re- duced, our Government merchant | marine wonld , have double 1s present business, our urban indus. tries would henefit and markets for agricultural products would im- prove, YEARTHBOUND" OOMING "No God, No sin, No future life, Nothing but the supvival of the fit- test, and every man for himself," That was the ruthless creed hy which two men lived. They thought it had brought them success and riches until one of them was forced to sacrifice his wife upon the altar of that ereed. Then he killed Dick Deshorough, the man he had looked upon as his best friend, but Dick, even after death, was not free to progress. His spirit was forced to remain earthbound until he was willing to be guided by the higher creed that "love is the great pro- gressive force hoth in this world and what we emll the next." . That Is the theme about which Basil King built the powerful story, *"Karthhound," which will be shown at the Regent Monday and Tuesday | hext, DON'T BE BALD | How to Make Hair Grow Strong, Thick and Lustrous If your hair is thinning out, don'. dent and Managing-Director, in his| gui another day, but go to any drug particularly | gore and get a bottle of Parisian | sage, the truly efficient hair the | o. Mr. Pease also referred | Brow Don't say: "It's the same old story; I've heard it before," but try They guar antee Parisian sage to stop falling hair and stimulate a new growth, banish all dandruff and almost in- stantly stop sealp itech, or money back. Parisian sage contains just the elements needed to properly invigor- ate the hair roots. It's a prime fu- vorite with discriminating women because it makes the hair so soft and lustrous, and appear twice as abundant. Parisian sage is inexpensive and easily obtainable at all drug stores. {a bottle at their risk. | a very trying one for the commercial 3 . / RIO, THURSDAY, JANUARY 19, 1921 Osha By-Law Finally Passed The Town Council Tuesday night gave the third and final reading to the by-law approved of hy the rate. payers January firet to spend $70, 000 for the Westmount sewer, To Hold Annual Meeting The congregation of the Oshawa Presbyterian Church will hold thelr apnual business meeting on Wednes- day evening, January 23rd, when re- ports of the year's work will he pre- sented and officers elected for the present year, pr-- ' $300 For Hospital It was intimated hy Mrs. R., 8, McLaughlin at the annual meeting of Oshawa Hospital Auxiliary Mon- day afternoon that Mr. Fred Hatch, of Whithy, has sent a donation to the auxiliary of $300, while a num- her of other smaller amounts had been received, Red Cross Active Oshawa Red Cross Sociely to date this season has supplied clothing to needy families brought to their at- tention. Quite a lot of clothing has been sent by citizens ta the Society's rooms in the municipal building and these have been repaired or made over. House Burned During Absence Fire early Tuesday morning com- pletely destroyed the frame cottage occupied by L. J. Scott and owned by Miss E. J. MeCann, Whitby. The whole building was in lames when the alarm was turned in at 4 o'clock and the firemen had no chance to save the house. Mr. and Mrs. Scott returned from a visit in Toronto about 5 o'clock to find their bome reduced to ashes Church Has Surplus St. Andrew's Presbyterian Church, Whitby, closed the year with a sur- plus of $255. According to reports presented at the annual meeting Monday night $2.400 was raised for general work and nearly $1,000 for missions. Organizations connected with the church raised an almost equal amount. The following are LW. Every. C. the Managers of the church: George W. SBeott, W. M. Prin- gle. George Robb, Arthur Jeffrey, wa nd TT TEA CT District ~~ James Pirie, tleorge A. Ross and Dr, Roger, . The minister is Rey. E. Turkington, . Celebrated Birthday Mr. J. E, Beaton, is receiving the congratulations of a wide circle of friends on having celebrated his sixty-fifth birthday on Muesday last, A number of his friends and rela- tives assembled at his home Tues- day evening, when an . extremely pleasant social time was spent, all extending to Mr, Beaton many hap- py returns of the day. Open Tenders for Re-Wiring A short meeting of the Public Library Board was held on Monday night to open tenders for re-wiring of the library building, as ordered some time ago by the Hydro Elec tric Power Commission inspector, Only four trustees, Chairmap Dr. Hoig, A. E. Garbutt, Dr. Finpigan and Becretary Punshon were pres- ent, and no action was taken, It was decided to meet again Wednes- day night. The new Board does not appointments have yet to he made, A. Y, PA, Hold Dance A dance under the auspices of the A, Y. P. A, the proceeds of which are to be devoted to paying for the new piano just recently purchased, was held in St. George's Parish Hal Monday evening. The event was a huge success, about one hundred and twenty guests being present. The approximate amount of the pro- ceeds was $40 which was very grat- ifying to those in charge of the ar- rangements. The music was pro- vided by Mrs. F. W. Cowan, while the executive furnished refresh- ments. Splendid music and the new floor which is ideal for dancing made the evening a most pleasant one. Provincial Forester Coming Mr. W. J. Moore, forester, of the Provincial Department of Highways will give an illustrated talk on the proper method of tree pruning at Welsh's Parlors on Friday evening of this week, at 8 pom. Mr. A. T. Hicks manager of the local branch of the Hydro Electric Power Com- mission. has personally arranged to have Mr. Moore visit Oshawa with a view to instructing the line- Charles Fothergill, Dr. McGillivray, men in trimming the 'trees of the To NEGLECT To REGRET "FOREWARNED IS FOREARMED" To neglect a cold is to regret afterwards, A cold if not controlled will slowly but surely tear down the body tissues, weaken the lungs and leave the body in a general run-down con- dition, It is to your own interest to break the cold before it gets that far, If one only realized that a cold is dangerous, especially when left to take its own course, we would be a more healthy people. Do not neglect to use Cherry Bark for your cold. You will not regret it. The Rexall Stores take office until February, as severai | [I JURY & LOVELL F. W. THOMPSON city which they must do to do their work on the poles. An opportunity is being given the citizens of the town to hear this address which will be interesting to every one. Tic- kets may be secured from Mr. Hicks at 15 King Street East. Four Charged With Burglary Four arrests have been made ins conpeciion with the recent baurglar- ies at Orono. The prisoners appear- ed in Court at Cobourg Monday and at the request of the prosecution all were remanded for a week. «There ing from a freight car the property of the C. P. R., G. T. R_ and CN, R.. and also from the store of C. J. Armsirong at Orono. Three of the men have admitted their guilt and have given information which. may lead to the arrest of several others. The men under arrest at present are, Blake Stapleton and Charles Finlay, of Newcastle, and Arthur Little and Roy Stacey, of Bowman- ville. Some observers hold to the theory that the sleeping sickness had its origin in a store that did not adver- are four charges: entering and steal- A Whirlwind Wind-up To tise.--Orillia Packet. JANUARY SALE | OUR Two Days of Unprecedented Opportunities to buy merchandise of sterling worth at sensationally LOW PRICES A Sale planned especially in the interests of those who are alive to REAL VALUES Probably the greatest chance to make the pay check do double work, that will come at any time this year FRIDAY and SATURDAY the last two days of the sale promises to be record breaking days. See to it! that you get your full share of the pl Discussing the general phases of trade." LEAGUERS ENJOY A NIGHT WITH JAPAN "A Night With Japan," at the South Oshawa Methodist Mission on Monday evening proved to be an un- que and very interesting program. Talks were ziven om Japanese ocus- toms and our work among the Jap- anese. Mrs. Petley had as her sub- ject, "Queer folks and ways in Jap- an." and Miss McMullen took "Our Japanese Workers." Misses Elene Shemilt and Phyllis Ayers both gave recitations dealing with queer ways in Japan. and Miss Mona Hurlbert won great applause in her rendering of "A Maid of Japan." Reading from a marvow strip of paper, yards and vards in length, Miss Florence Hum read a Jamapese story. Mr. §offat: also fawoved those pr coml with a Japanese hymn. At the close of the program, in a room with low tahles and cushions for chairs those who desived were given a cup of tea in Japanese style. Mid-winter Sale CU starts | i Two teaspoonsful of Tanlac in 2 little water taken three times a day just before meals will make you eat better, feel better, sleep better and work better. Jury & Lovell. SE----------_------ BLACK ALL WOOL WORSTED HOSE For boys and girls, sizes 6-10, a splendid weight for overstockings, regular 85¢ to PRI, £OF an rrsprriicsne 6oc¢ pair BOYS' 2'1 RIB BLACK COTTON HOSE Sizes 6 to 915, regular up to 55¢ pair. The kind that will stand all sorts of hand FANCY WORSTED SKIRTINGS New plaids and stripes, 40" and 54" wide, goods regular $375 and $4.75 yard, yard 40° SWISS GEORGETTE CREPES Colors--Rose, Maise, Copenhagen, Ni Brown, Mauve, Peacock Blue, White, Black, Navy, Sand and Taupe. Regular $1.19 yard SATURDAY ONLY WOMEN'S AND MISSES' COATS You will have to hustle if want a choice of this bargain -- Velours and : with fur-trimmed and self collars, and one only coat in Brown Plush, values up to $3500, for VIYELLA FLANNELS Scotch Tartans patterns for girls' school dresses, guaranteed not to shrink or fade. 50" CREAM MARQUISETTE FOR CURTAINS Plain tape border, very fine even weave, 49¢ yard KIMONA EIDERDOWN Reversible patterns, 27" wide, a soft thick uality for warm winter garments. ! THE MASCOT HOSE FOR CHILDREN All Wool 1'1 Rib Black Cashmere, sizes ° 6-815, regular up Lo 85¢ pair, for §fe pair FIVE ONLY DOWN-FILLED COMFORTERS FRIDAY MORNING Genuine Bargains in Clothing, Boots and Rubbers, Men's Fumnishings, Gloves, Mitts, Hats, Caps, Hosiery, etc. We are too busy to quote prices but come and see for yourself and you will not be disappointed. J.C. McGILL "The Poor Man's Friend" Wide enough for the length of an ordinary sheet, regular $1.45, for . ... $1 §@ yard 76° BLEACHED COTTON SHEETING CHILDREN'S WHITE WOOL NAP PILLOW CASES COATS Dovble-breasted, Eetnd, aod with suit wile Aaanelerte. 268 1 10 3 eds. Regular $595 to $6.50 Réguiar 7.50 to $175 for -- woo - RNA fh hn. ty Roasts J YS An er