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006006060 66 wW. H. SEVERT Let us fepair and waterproof that leaky roof before the rainy season. Parabestos Roofing Paint, and Kantleek Roofing Cement For Sale Corner Kirby Ave and Mountjoy St P.0O. BOX 974. â€" TIMMINS, ONT. BUILDING CONTRACTOR The Foundation JOHN L. HU Bringing Up Father. TZERY fortune has had a foundation. ED Every foundation, in the first instance, is laid with the first few dollars saved. Start to save now and lay your foundation. Save seriouslyâ€"save consistently. For money in the Bank is the buffer against misfortune and the barometer of future prosperity. TIMMINS BRANCH, © 1924 sy Frarume Service,. Inc WE LL C T HIMNC ITEL;ao ouUu T SE . 39 Fourth Ave. Opp. Fire Hall You know where you can get the BEST CANNED GOODS ICE CREAM AND FRUITS Soft Drinks, Tobaccos, Cigars, Cigarettes, Candies, etc. If you break your EBlectric Light just come toâ€" P. ANTOINE NT H THE Y CIAmC, * Acting Manager. eat Britain rights reserved Frank Circular Sent to Shareholders Outlining Practical Plans for GeJting Mine on Good Basis. NIGHT HAWK PENINSULAR PLANS NEW FINANGING Shareholders of the Night Hawk Peninsular Mine recently â€" received the following selfâ€"explanatory letter signed by the President, setting forth good plans for the future:â€"â€" ‘*‘To the Shareholders:â€" [ wish to thank the shareholderyg of Night Hawk Peninsular Mines, Limited _ and Callinanâ€"MeKay â€" Exâ€" ploration Company, Limited for their confidence and coâ€"operation as exâ€" pressed at the Special General Meetâ€" ing held November 18th, 1924., L wish also to take this opportunâ€" ity to present to yvou some facts conâ€" cerming the past, the present condiâ€" tion and the future ouwtlook of the The mill started last Januany but the usual ‘"‘tuning up‘‘ was necesâ€" sary and it was early in March beâ€" fore it was in regular operation. Its production, however, was far undey the estimate and it was not until the change in management took place in May that ‘this was increased from the average treatment of 80 tons of ore per day up to 135 tons per day which repnesents the tonnage now being treated. The mill operated at a loss for a period of six months or until the change in management took place. I am pleased to state, however, that under the very able direction of our Consulting Engineer, Mr. Walter E. Segsworth, the mill has been in proâ€" fitable operation for the past three months, _ underground _ methods _ of mining have been greatly improved and many economies have been instiâ€" tuted with the result that ‘the per ton cost of production compares very favorably with other well managed properties of like size in Northern Ontario. Callinanâ€"MeKay â€" Exploration â€" Comâ€" pany, Iimited (the parent company owning the controlling stock interes: in the Night Hawk Peninsular Mines, Limited) out of its own treasury, loaned the Night Hawk Peninsular Mines, Limited approximately $100,â€" 000 cash and an additional sum of $200,000.00 cash that it borrowed from some of its shareholders. This total sum of $300,000 was expended before the imill operated profitably. na(dt agreed _ Woul fully equip the p into production on per day. had been grossly n that the value of was much lower tha Last May a new v 7. was on which has proved to portant and â€" depen THE PORCUPINE ADVANCE, TIMMINS, ONTARIO " Nearly as nher large sum| gently reaured ion of the mill, purchase of equipment and _ supplies, and to market conditions making ssible to sell treasury uickly enough to meet the ate financial requirements, the ven t of 90 proved to be the n nd _ dependable ore vet been found. A engo w yven n the property than estimated THE fRADiG .. 44 15 BOSTED SG THERE 19 mGO TO STAY HOME CÂ¥ | hat ns o money ;Deâ€" d to pay for the mill, purchase of i v e 1| Ome Tacts conâ€" present. condiâ€" irtlook of . the ie amount oI the Directors necessary to stoped ve the company an e share ‘on a at f25â€"ft. e most the Comâ€" ampaign to f its treasâ€" netting the mroximate and put 1 of 200 ton r at lease fret and Bad as the O. T. JCeL P AIYL~ bodv Ip ton practically frre from faulting and of good millable grade. The winze from the 425â€"ft. level down to the 625â€"ft. level is now being straightened up and timbered preparatory to active development on the 525â€"ft. and 625â€" ft. levels. it. <1@VveIS. The vital need of our operation is intensive â€" underground â€" development in ormfler that greater reserves of millable ore may be put in sight so that the capacity of the mill may be materially _ increased. Mr. Segsâ€" worth and the Directors have every confidence in the successful future of the property and it is the intention to the sum of $300,000.00 to be set aside to push this required deâ€" velopment just as fast as is consistâ€" ent with good mining. We beg to state that the Directors have endeavoured to secure the best possible management and ‘they deepâ€" ly regret the misfortunes that were experienced duning the early stages of our operation. However, we conâ€" fidently feel that with the proposed development fund of $300,000.00 to be made available, that we will be able to realize our expectation that the Night Hawk â€" Peninsular Mines, Limited will become one of the subâ€" stantial profitable mines of ‘the Porâ€" cupine District. In view of the fact that the presâ€" ent obligations of the Company apâ€" proximate the sum of $500,000.00 and with the urgent necessity of an adâ€" ditional $300,000,.00 needed for unâ€" derground development purposes, a plan of refinancing was submitted to the shareholders for their considerâ€" ation. At a special â€" shareholders‘ meeting held at Pittsburgh, Pa., on the 18th instan‘t, authority was given the Directors to create an issue of $500,000.00 _ in denominations â€" of $100,.00, $500.00 and $1,000.00 and to convert 500,000 shares of the treasâ€" uyy stock into 500,000 shares of 7% cumulative Preferred stock. In conâ€" If you want to get a favour done By some obliging friend, And want a promise, safe and sure, (On which you may depend, Don‘t go to him who always has Much leisure time to plan; But if you want your favour done, Just ask the busy man. offticers of the steps to make 1 soon as possible this Company r 000 indebtednes cept in lieu_ of the â€" proposed shares of â€"the A moment he can spare, He‘s always ‘‘putting off"‘ until His friends are in despair. But he whose every waking hour Is crowded full of work, Forgets the art of wasting timeâ€" He cannot stop to shirk. So when you want a favour done And want it right away, (Go to the man who constantly Works twentyâ€"four hours a day. He‘ll find a moment, sure, somewhere, That has no other use And fix you, while the idle man Is framing an exceuse. ‘The,. Ca Company, action of ial meetin A grapefruit is a lemon that chancee and took advantage of equen ce tod( S0 â€" THINK YOU ARE Om a OUTâ€"wWELL â€"JOQST YAKE THAYT COAT OFF % DOING ALL THE THINM<ING 72â€" oh. FOR THIS J _2 FAmiixgâ€" ( w//f. | * | | tiation, the creditors of iny representing its $500,â€" »dness, have agreed to acâ€" u_ of cash, $200,000.00 of sed â€" bonds wand _ 300,000 the proposed _ Preferred this plan rred stock. In conâ€" ithority given, the any are tiaking lan effective as * $ V o 0.. * .“.0 *4 # + #4 * # #4 * # #4 # Li #4 * #% *4 #@ # *#* * LJ #4 *# # #* * # #4 # * #4 * * *4 #% © *4 * *4 *# « *4 *# * @4 *# 6 #4 #. * 0..0 4* * *# ## *# *# #4 * # ¢4 # L *4 # #4 * # *4 *# % #* *# h #* *# La ## + + #4 * 4 #4 *# * *4 *# # #* * #% #4 *# + #4 # #% #4 * *4 * # #Â¥* *# % *4 * #+* # # *4 *# * #4 # #% *#* * *# *4 @ «+ #* # + #* # 4 #* # L #* *# % 44 # 4# #4# < © #* * # #* # D.OQ + *# @ \ 4 #4 *, € @ # *4 *# 4# Cad #@ 4# #4 # € #4 *# + *4 # + *4 #@ L3 #4 #4 # 4 *4 # #© Cns *# *# #* *# #% ##*4 # # #4 *# + #4 *# 6 ## * @ ## + # #* *# + 44 * < #4 * 4 *4 #@ ¢ *#* # L3 Snd *# # #+* * #% #+% *# # #Â¥* # t #4 * # #+4 * 4# *4 # # 44 * # ##4 *# #% 44 *# + #4 @ # #4 *# #% #4 *# € #4 *# ©% #* #@ # ** *# # *4 * #% *#* * #% #* #@ L # #% #4 # # #* *# P #*, * 4 #*, « #4 * + #4 * 6 #4* * 4 #4* * .0 + .,0 b 3 5 s 3 3 C s . . 5 5 . . . . . . . . 5 . . . . . . . . . . . o. . o. o. . . . o. . . i5 55 16440 TIMMINS BRANCH, « sOUTH PORCUPINE BRANCH, Wholesale Fruits, Vegetables, Confectionery, Tobaccos. 3%, Spruce St. INSURANCE AND REAL ESTATSE Marshallâ€"Ecclestone Block (Upstairs) PHONE 104 P.O. DRAWER "‘E" Check over your Fire Insurance Policies and see that you are fully protected. Reductions in rate may now be had in many cases. Come in and talk it over. Those desiring to transfer sums of money to other countries will find it advisable to use Bank* Drafts. They are the safest and most convenient medium for transâ€" ferring money abroad, and the cost is moderate. Bank Drafts are issued at all branches of the Imperial Bank. IMPERIAL BANK Sending Money Away: This being a Free Country You may pay rent if you want to. But if you are Building your own Home, we will supply the Lumber. Mattagami Heights, P.O. Double Diamond Lumber Co., Ltd. i% 3 ABNCO RECMEMEBEE YoOURE moyr 4OoOma To YTOMorRrrow :‘ By Geo. McManus. 4orr,:* | MARRED A WAROE nA t Motor or Horseâ€"drawn Hearse Flowers and Cars Furnished Cor. Third Ave. and Maple St. TIMMINS, ONT. Night and Day Phone 509 D. SUTHERLAND, Manager. Timmins, Ont. F. R. WAY, Manager.