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OPINIONS DAILY TIMES-CAZETTE EDITORIAL PAGE FEATURES THE DAILY TIMES.GAZETTE OSHAWA THE OSHAWA TIM:S - (Established 1871) AND "HRONICLE THE WHITBY GAZE 1863) (Esta' lish ependent newspaper published daily except Sunday by The Repel pi of Oshawa, Limited, Arthur R. Alloway, President and Managing Director. COMPLETE CANADIAN PRESS LEASED WIRE SERVICE The Times-Gazette is a member of the Canadian Daily Newspapers Association, the Ontario Provincial Dailies Association, and the Audit Bureau of Circulations. Authorized as Second Class Matter, Post Office Department, Ottawa, Canadg. SUBSCRIPTION RATES Delivered by carrier in Oshawa, Whitby, Brooklin, Port Perry, Ajax or Pickering, 24c per week. anywhere in Canada and England $7.00 per year. By mail outside carrier delivery area United States 'subscription $9.00 per year. County Make Cheese, Butter Is Reduced Declines in the production of both | has pecome the prim: oblem cheddar cheese and creamery but-|gosing the Joint ay aie, ter over Je same Ving 2 year ago States Defence Board, is reported for Ontario County in $. the report of the Sources Jepor of the Ontario De, a culture for October. However, Dur-|o. the rights of regional defence, ham County was able to show an |i; is giving its major consideration increase in its make of creamery | o the questions that arise from the utter. = , A total of 57,865 pounds of cream- d th Kk expanses of the ery butter were made in this coun- ie ie Taken P ty in October as compared with 85,275 pounds for the same month TLooking Ahead In Ottawa By The Canadian Press Ottawa, Nov. 25--(CP)--The fact the northern frontier of Canada happens to be the northern frontier of the North American continent informed tistics Branch] operating well within the provi- ent of AgTi-|giong of the United Nations Charter threat of a new, ultra-modern war United States worries over that very question are no secret and one important Canadian viewpoint en it was expressed in New York re- cently by Gen. A. G. L. McNaugh- ton, He said: ER SJ "We must realize not only that continents now are within craft and rocket missile range of one an- other, but that they have become the geograp! units in which most questions of defence must be stated. Effective arrangements. for the refence of the territory of one nation have become a matter of vital concern to all other nations of that continent." The former commander of the 1st Canadian Army maintained that the first provision for the protection of North America lay in developing international co-operation. But until the United Nations "can ef- fectively assume the task of main- taining world 'peace and security, the continued production and fur ther improvement of all weapons is vital to the prevention of aggres- sion against us by making impos- sible any likelihood of success." Disputes: ANevied draft of am- endments to the Industrial Disputes Inquiry Act is nearing completion and is likely to go to the provinces shortly for their comments. Amendment of the ID.I.A. has been advanced by the Federal Labor Department as the answer to de- mands for a uniform federal labor code. The present code, introduced under the provision of wartime emergency power, will expire early next year. At a recent conference with provincial labor ministers the Dominion proposed tha tthe pre- war LD.I.A, should be amended and should stand as model legislation which the provinces right adopt if they saw fit. . LI IK . As. a result of those discussions the Dominion has revised ideas it had in mind for bringing the ID.IA. up to date and the opinion of the provinces--as well as of labor and management organizations -- will be sought on these changes. The wartime labor code gave the Dominion authority over all wer in- dustries and provided for compul- sory collective bargaining, requiring an employer to negotiate "in good faith" with unions which had the support of a majority of his em- ployees. eo A Bible Thought "Most people need their religion the heart."--D. L. Moody. "For with the heart man believeth unto right- | eousness." (Rom. 10:10.) lowered a foot--from the head to|7Things that were boug e A Bit of Verse We do not ask for wealth or power Nor things that are beyond our reach, We're satisfied with' simple things 0) God grant us these things we b We want to live and work and play In this our land we love so well, And keep our children ever safe From wars that make this earth a hell, We do not ask for mansion grand But hioines oere peace and joy are oun: , Where love and duty holds us close Together on this hallowed ground. We ask our leaders to faith With those who died Jo sive us these and tears, This, Lord, we ask on bended knees, --William Skelton, | A16 Albert Bt., Osha t with blood - a year ago. The total make for the ten months of this year was 717,489 pounds as against 931,009 pounds for the same period of 1945. The total make of creamery but- ter in Durham County last month was 82,783 pounds as compared with 74,835 pounds for the same month last year, The total ten-month make in Durham was 791,161 pounds as compared with 797,721 pounds for the same time a year ago. The total make of cheddar cheese in Ontario County last month was 10,170 pounds as against 13,410 pounds for October, 1945. The total A Living Memorial make for the ten months of this During the campaign for a community centre here last year much was heard of the value of establishing a living i Was Jools youncs as. eom- Net Paid Circulation 9.240 MONDAY, NOVEMBER 25, 1946 Average Per Issue | FOR OCTOBER This is why, as you will see here, some of the dollars left at the B of M are lent to merchants, businessmen and manufac. turers to assist them in their operations, while others are used to finance the needs of governments, Some enable farmers to improve their farms, buy machinery and BANKING is not the mysterious business some people are inclined to think it, In its fundamentals, it is no more complex than any other type of business. The chief difference is that, instead of dealing in goods, your bank deals in money . . . money which belongs mainly businessmen and cy sort of enter a lot of money e of these Merchants, memorial to the men who gave their lives for their country. | first ten months of last year. * In view of the fact that such a move was not given-a very oun Scparuiien;, Yepons Sat is warm reception it is interesting to note what is being done ter amounted to 5,366,900 pounds in ket M th t to hel . 1: : the province as compared with 5,- . market crops. Many others go out to by a 18 memorials in Britain has been 200 pousigs in Oclober, Jus, 2 fo you 354 © die many et Canadians citizens in: thei AE og et pf ne 0: e Vi uction of 6.8 per cent. A tota who deposit their funds wil e . . : . : se . t|of 9,013,100 pounds of cheddar in meeting emergencies and in taking given to a Sussex country town by an unknown man. Eas choose was Mode 5 he Dis At the B of M, for instance, well over a advantage of opportunities. Grinstead, at one time in the "Battle of Britain" country and | i; october ag compared with 10- BoM Pusomiicatbiioed sillion people lave places on deg oriechee: : with a high civilian death role for its size, is to have 120 | 651,200 pounds for October, 1945, or £1 na Loanghe pe : P re The sum total of all these transactions f park land laid out bli eation grounds a reduction of 15.4 per cent. Th, = : t * noless Zhi 157,020 people to one and three-quarter billion dollars. interesting reading, not $0 mich on acres of park land laid out as public recreation 3 . ! i duting the past year--peop) : ; : : ! The Garden of Remembrance will be dedicated, not only " Vi fils My, A 5 WEG eid Tus iCReY Sos' stand idle . , . it acount of the figures Jamies, but to the town's own war dead, but to all who died for Britain. | @ Readers 1ews ws os aD nia con. Works to earn its keep. ecause of the human stories behind them. Among the woodlands will be a swimming pool and an open- got three B of M Porson] At the close of the B of M's business year, it seems air theatre, and in the park football grounds will be provided | THIRTEE i: MONTH CALENDAR Loans, tolling more than a good thing for these dollars to show what they have rt p = Editor, Times-Gazette, $600, over a period of 18 been doing and for the Bank to report on the transe and a cricket pitch, as big as that at Lords in London, where county matches will be played. Comes The Dawn Early this year when Hon, J. L. Ilsley announced there would be a reduction in the income tax levy tens of thou- sands of Canadian taxpayers heaved a sigh of relief and be- gan to lay plans for what they would do with the extra money they would receive. These same taxpayers will receive a shock when they get their pay envelopes for the first pay after January 1 next. The deduction for income tax will be greater, not less, in most cases. Though this situation was forecast in Mr. Ilsley's budget last June there will be many who will fail to see how this jibes with his recent statements about a ten to 15 per cent. decrease in income taxes. What really will occur is that all parents with children under 16 years of age will receive family allowances provided they have applied for them. This means that the family in the long run will be money in pocket. The fact that the wife will get the family allowance cheques may lead in some instances to family squabbles as the husband will be getting less in his pay envelope. How- ever, the husband is responsible for the keep of 'the children and would have to turn money over tb his wife for this pur- pose. However, it may not have been in the amounts she will get in family allowances so there will have to be adjustments in the allocation of family budgets. On the other hand, he 'a fixed perpetual 12 months cal- Oshawa, Ontario. Dear Sir: The letter from A. E. Fisher published in your issue of October 29, has been read with in'erest, There are few who now favour the adoption of a thirteen month calendar. P. W, Wilson who wrote o 3560 page book entitled 'The R ) ance of The Calendar) said of it "To orderly minds its boas- ted symmetry can never be whol- ly unattractive," but Mr, Wilson after reciting the advantages of eadar with equal quarters and half years, and equal working months pointed out a :ecial ad- vantage that the World Calendar of 12 months would have over a 13 months calendar by stating that the former "has the advan- tage over any other proposed re- vision of enabling us to keep the dates that we have without ma- terial change." Mr. Wilson then states: -- "There is a final consideration which affects and indeed trans- cends all others. Can we not say that there is a real chance that the World Calendar will be adop- ted? It does not arouse opposi- tion by insistence on theocratic formula, Tt allays opposition by recognition of actual infl ences that affect the proposals." It is not nice to think that we would have to observe Dominion Day (I think that name stands) on the 14th of Sol. That alone months, and he has paid them off regularly in monthly instalments. Now his home is in fine shape and the loans are repaid. Interest cost of loans: $32.53. Over 500 people from every walk of life come to the B of M every business day to borrow for personal needs. s the Forces, wanted to ow small wholesale baker? yeas, Lacking the re? y ad . 500 loan, and y profitable li " oll Thousands of business ay --with big EE i s--use 4 help themintheirfosnciog. The dollars they borow 0 the wheels of commer ik 4d industry, facilitate P! tion and create employment. Farmers all across the Domi. nion use the B of M to finance their needs in buying seed, cattle and machinery--in marketing crops--and in im. proving their farms generally, This means more prosperous farming communities -- and bigger agricultural produc. tion to meet the urgent needs of a hungry world, Typical of these go-ahead farmers is Mr, R, B, L., who wanted to clear and break so acres on his farm, The job would cost $325, bye his ready cash amounted to only $125. With the aid of a B of M farm improvement loan of $200, he completed the job and has considerably jin. creased the production and profits from his farm, actions which it has undertaken for its customers from coast to coast. To municipalities, school dis. tricts and BOvernments, the Bof Mis constantly lending money for undertakings that benefit the whole community, Take the case of an Ontario town, which--to pay for a few sewage system--was selling debentures amounting to $305,000. The Bank of Montreal bought 44 % of the ' issue, a total of $134,000 Which is now being used by e town to co undertaking, ples You Many municipalities use B of M's facilities to Be the community improvements and to handle their financial transactions Benerally, If you are a B of M depositor; then it may be your money which assisted Mr. P. R. B, to buy his bakery--which helped Mr. A. L. T. finish constructing his home-- which enabled Farmer R. B; L. to make his farm more pro- fitable--~and which helped finance the new sewage sys. tem for the Ontario town: Thatworking money of yours is part of $1,700,000,000 which well over a million Canadi have deposited at 498 B of M branches from coast to coast. Each one of the 1,531,658 B of M deposit accounts is an expression of trust in Canada's first-estabs lished bank, which has been working with Canadians ia every walk oflife for129 years may be the type of husband who lets his wife look after |seems to put the 13 month calen- money matters in which instance there will be no difficulty | ar out of serious consideration. whatever. Yours faithfully, . «. JJ HILLS For the Money You Need When You Need It See HOUSEHOLD FINANCE If you need money the following table shows you how much you can borrow at Household and how long you can take to repay. Number Find here the Cash Loan you need . . . then of choose a Monthly Payment Plan $49.92 58.25 74.94 Payments ey $500(¢700| $1000 4 20 $29.12 | 40.77 $ 7.49 37.47| 5246 : 9.17 45.84) 64.18| 91.68 I , 17.55 87.76 {122.87 | 175.53 Thos payments include ail costs H payments are mde scr ding 1 sohedele Just phone us. Or, come in if you prefer. Your money is ready quickly, usually the same day you apply. And remember, Household Finance loan rates are lowest of any Small Loans Company in Canada. HOUSEHOLD FINANCE SACKED 87 68 YEARS OF EXPERIENCE Canede's largest and oldest Small Loans Company with 41 offices in 34 cities D. C. Moore, Manager 15 Simcoe St. South (Over Kresge's) - OSHAWA, ONT. Phone Oshawa 3601 * Hours 9 fo 5 or by oppoiniment -- Loans mode fo formers ond residents of nearby towne 1 HR 8 25 NAN RARER RRR RE RRRR RRR 2, RR XXX 9% 1X 2% 5 7 4K 8 4 > XX {Want Ads Click! Ottawa, Nov. 23, 1946, e 15 Years Ago The Oshawa Public Utilities Com mission received 52 applications for the position of janitor of its new building. = Salaries asked ranged from $16 to $35 per week. WaD. Thomson of Brooklin won the reserve senior female cham- pionship in the Jersey section of the Royal Winter Fair with Brampton Metapad. | Jesse Saddler of Bradford was admitted to the Oshawa General Hospital in critical condition from a bullet wound in the abdomen as fhe resulé of a fracas on Scugog Is- nd. Parkwood Stables horses won a number of prizes at the Royal Win- ter Fair. Diane took the Brier Challenge, Trophy in the brood mare class while Storm Along won first place in the three-year-old class. Rathmore took second place in the thoroughbred hunter class. The Oshawa Blue Devils suffered an 11-to<7 defeat at the hands of 8t. Thomas Yellow Jackets in a sudden death O.RF.U. Intermediate title game at Hamilton. Gad, How Those Ottaya, "Nov, 25.--(CP)--In- triguing in this housing-short Ca-| pital, the clasified ad appearing ir' the Evening Citizen offered a choice tyo bed-room madern apartment and said to telephone "Mr. Hume" at a ce in nv ber between certain hours, Some 700 house-hungry Otta- wans responded, only to learn that the number was that of the Parliamentary press gallery where bewildered Alex Hume, the Citi- zer's Parliamentary repor.er, had no apartment to rent. Next day, three extra operators were em- ployed to turn back the calls. Hume still is looking for the "practical" joker who inserted tha ad. ACCIDENTAL DISCOVERY Bind was discovered near Los An- WHAT THE B of M HAS IN RESOURCES TO MEET ITS OBLIGATIONS : CASH. .. The B of M has cash in its vaults and money on deposit with the Bank of Canada amounting to «+ + « MONEY in the form of notes of, cheques on, 'and deposits with other EIR NL SE Te oe ie INVESTMENTS: The B of M has well over one billion dollars in- vested in high-grade government bonds and other public securities, which have a ready market. Listed on the Bank's books at a figure mot greater than their market value, they amount to + + 'The B of M has other bonds, debentures and stocks, representing to some extent the extension of credit to industrial enterprises for reconversion from wartime to peacetime production, and for ex- pansion of productive facilities in established fields. Valued at no more than the market price, they amountto « + « + CALL LOANS: The B of M has call loans which are fully protected by quickly saleable securities, These loans amount to . . ' QUICKLY AVAILABLE RESOURCES: The resources listed above, all of which can quickly be turned into cash, cover 85.35% of all that the Bank owes to the public. These "quick assets" amount to LDANS: During the year, many millions of dollars have been lent to business and industrial enterprises for production of every kind, including housing and construction -- to farmers, fisher- men, lumbermen and ranchers -- to citizens in all walks of life, and to Provincial and Municipal Governments and School Districts. These loansnowamountto. + + + + + «+ o oo BANK BUILDINGS: In hamlets, villages, towns and large cities from coast to coast the B of M serves its customers at 498 offices. The value of the buildings owned by the Bank, together with fur- niture and equipment, is shown on its beoksat . . . . OTHER ASSETS: These chiefly represent liabilities of customers for commitments made by the Bank on their behalf, covering foreign and domestic trade transactions, totalling $21,538,615.59. t / TOTAL RESOURCES WHICH THE B of M HAS TO MEET "ITS OBLIGATIONS 4 4 4 +» » a + » » $ 192,687,153.28 98,358,231.24 1,099,728,432.17 56,022,926.42 59,391,558.13 $1,506,188,301.24 301,659,974.44 10,575,688.13 25,561,623.59 » $1,843,985,587.40 P--------------------g " WHAT THE B of M OWES TO-OTHERS: DEPOSITS: While many business firms, manufacturers, merchants, farmers and people in every type of business have large deposits with 'the B of M, the bulk of tlie 'money on deposit with the Bank is the savings off more than a million private citizens. The total of all deposits is . oT a RS BANK NOTES: B of M bills in circulation, which are payable on presentation, amount lor. i.e ST UT gg Ey OTHER LIABILITIES: Miscellaneous items, representing mainly commitments undertaken by the Bank on behalf of customers in their foreign and domestic trade transactions totalling $21,538613.59, . i "va 4's 4 wie vw sw TOTAL OF WHAT THE Bof M OWES ITS DEPOSITORS ANDOTHERS .. '. 's viii oi hg 2, oy TO PAY ALL IT OWES, THE Bof M HAS TOTAL RE- SOURCES, AS SHOWN ON THE LEFT SIDE OF THIS STATEMENT, AMOUNTING TO . . , . +. + WHICH MEANS THAT THE Bof M HAS RESOURCES, OVER AND ABOVE WHAT IT OWES, AMOUNTING TO $ This figure of $79,256,285.81 is made up of money subscribed by . $1,736,2 12,708.33 5,512,707.50 23,003,885.74 1,764,729,301.59 1,843,985,587.40 79,256,285.81 --s<:, AA EL the shareholders who own the Bank and, to some extent, of profits which have from time to time ploughed back into the business to broaden the Bank's services. a Sa PROFITS: After making provision for contingencies, for deprecia- tion of Bank premises, furniture, and equipment, the B of M reports a profit (including an adjustment in United Kingdom Taxes 1938-46) for the twelve months ended October 31st, 1946 $ Provision for Income and Excess Profits Taxes « «: oo leaving a netprofit of 'u . . wii. a 4 ee Of this amount, shareholders (paid dividends at the rate of 80 cents a year, plus an extra distribution of 15 cents, for each $10-share of the Bank) received or will receive . . . . . . Thus, the net amount to be added to the balance of profits from previous years' operations'ds « . ov WL. 8 Balance in the Profit and Loss Account at October 31st, 1945, amounted 40,» a + ew d 4 ew erie iw Transferred to Reserve Fund, which now amounts to $42,000,000 and is included in the shareholders' funds of $79,256,285.81 mentioned above sy Ca oA i iE gE Tg giving a balance in the Profit and Loss Account at October 31st, : 946, 8 oi vi ee ee wwe eve BANK OF MONTREAL 10,263,782.91 5,776,000.00 4,487,782.91 3,420,000.00 1,067,782.91 3,188,502.90 $ 4,256,285.81 3,000,000.00 | 1,256,285.81 EVERY WALK PIFE Tez es in 1842 by a shepherd who was 'WORKING OF SINCE trying to dig up a few wild onions . i ) for his lunch, WITH CANADIANS IN --- ----- A ------ EIS ETE A TL SYS ERE 5