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e k Thursday, March 22nd, 1928 ROOM 1 Bank of Commerce Bids Pine St. N. Ti Custom Tailored Clothes to Measure 52 First Avenue Box 1576 râ€"roomierâ€"more powerfulâ€" uvera(ged better than 54 miles an 24 consecutive hours, beating emy previous record for stock cars in its price class. Brilliant 6â€"cylinder ormanceâ€"40 miles per hour the you buy it; 62â€"mile speed later. The New Canadian Edition of the Erskine Six and Reserves over $12,000,000 Capital st Avenue _ Box 1576 TIMMINS, ONT. IN every price class Studebaker offers you .a car designed by engineers of outstanding genius. These are the same men who deâ€" veloped the Studebaker Commanderâ€"world‘s champion carâ€"holder of all the highest enâ€" durance and speed records for fully equipped stock cars, regardless of power or price. Every Studebaker and Ersiine car reflects the genius of these builders of championship automobilesâ€"working with all the facilities W. Varley of mnufactnring integrity and experience stand back of Studebakerâ€"Erskine Cars Branches serving the mining field at The Pas, Sudbury, Creighton Mine, Copper Cliff, Chelmsford, Cobalt and Porcupine. COLD LAKE eAnmnounces the opening of a branch office at the Sheritt Gordon Mines in the Cold Lake district, Northern Manitoba. "BANK#"TORONTO Timmins Garage Co. Limited Timmins, Ont. Western Superintendent Winnipeg H. B. Henwood General Manager Plenty of Real Development Work to be Carried ort in the Near Futâ€" In recent years a larger interest has been taken in mining by the public an interest, moreover, that is not academic, but primarily â€"from the point of view of profits. It is evident that mining is a profitable business, at least to some, and the average man on the street hearing of these profits is attracted thereto. In addressing the Canadian Instiâ€" tute of Mining and Metallurgy at the annual meeting held in Quebec last week, John D. Galloway stressed this point and stated that mining is one of the important primary industmies of Canada, with a gross production in 1927 estimated at $241,773,000, the highest in the history of the country. Mr. Galloway, whoâ€"is Provincial Made in Canada money can buy in modern laboratories and a millionâ€"dollar proving ground. Because these cars are built of such high quality materials and to such fine limits of precision, you can drive them at 40â€"mile speed the day they are delivered. Motor oil need seldom be changed after the first thousand miles. You are assured championship performâ€" anceâ€"at the lowest possible priceâ€"in any Studebaker or Erskine car you select. â€"Champion of its price classâ€"a stock Dictator Sedan recently traveled 1,483 miles in 24 hours of continuous runring. wtraain better _ than mileâ€" aâ€"ininute speed ! A splendid, neâ€"Profit value at $1555 to #1685 £ 0. 6. Walkervitte Government taxes to be added It is in speculation in mining shares. however, that theâ€"public is mostly inâ€" ‘terested, as the chances for relatively quick profits are available, and, Galâ€" loway added, just as quick losses.. It is in the secondâ€"class with those comâ€" panies which are still in the developâ€" ment stage, and heretofore nonâ€"proâ€" ductive, that the extreme speculative hazards are taken, stated the speaker. Mineralogist for British Columbia, xeâ€" marked.that this output from Canaâ€" dian mines was an impressive diviâ€" dend record, and that it is now apâ€" parent that mining is a business worthy of the careful attention of the people of Canada. â€" Furthermore, with a vast undeveloped territory more or less minéralized, it was conâ€" sidered highly probable that Canada‘s mining industry will continue to exâ€" pand indefinitely, with a consequent increase in production and the amounts of the yearly profits disâ€" tributed. In the ultimate analysis, stated Mr. Galloway, dividends come to the peoâ€" ple who have put the capital into an enterprise, so that in order to get dividends Canadian capital must go into Canadian mining. Undoubtedly for some time to come Canada will continue to secure much capital for the development of her natural reâ€" sources from outside sources, but there is plenty of Canadian capital also that is available under the right circumstances. When dealing with the many mining companies that have in recent years been promoted to develop raw mineral properties, Mr. Galloway was of the opinion that ‘‘in many instances such companies are the pioneers who do the initial work, but fail to get reâ€" turns; later on another company or individual will attain success with the property. This, however, does not help the stockholder who ‘has lost his money, but these companies are a benefit to the mining industry and the The public, to quote Mr. Galloway, can become interested in the mining industry by the following methods: In connection with the last named, Mr. Galloway said that today reliable investment bankers do not advise the investment of funds entirely in bonds, as any increase in commodity prices lowers the purchasing value of the income from bonds. A stable, wellâ€" secured investment list today cnâ€" sists of giltâ€"edge bonds, sound preâ€" ferred stocks and common stocks, all three in about equal proportions and well diversified as to types and industries. (Grubstaking prospectors; buying mineral claims or‘ parts of them; forming development syndicates to partially develop properties; by huyâ€" ing shares in mining companies. THFE PORCUPINE ADVANCE, TIMMINS, ONTARIO T he New Dictator country generally.‘‘ ~Here the quesâ€" tion was asked Mr. Galloway : * is the man in the street to know how to speculate successfully in minmg shares of this type?‘‘ ‘*I have endeasvoured to show that stocks of mining companies in the deâ€" velopment stage are highly speculaâ€" tive and that many are doomed to financial failure. How is the public, ignorant of both mining andâ€"stock market tacticg to know what stocks to buy? Manifestly it is impossible to protect the public from their own folly and much illâ€"advised speculaâ€" tion will always take place.‘‘ Here the, answer was given that: "In the first place intelligent investiâ€" gation will eliminate many of these companies for‘® reasons of finance, management, promotion or altogether inadequate mineral showings. Havâ€" ing in this way arrived at a number of legitimate, reasonable speculative companies, the speculator should be advised to spread his risk. Under no cirecumstances should he put all the money hethas available for speculaâ€" tion into only one stock; far better to spread it amongst ten. And it does not matter if he is speculating with $100 or $100,000, the same rule should be followed. It is a fact that a large amount of Canadian capital has been and will continue to be invested in the mining industry, much of it through the medium of brokers. If this capital is wisely, handled advant age will accrue to the industry. Whether or not people with small amounts of money should buy mining shares is not the question under disâ€" cussion. It is a fact that they do. Therefore, we who are interested in the industry should do all in our power to see that this capital is wiseâ€" ly invested.‘‘ _ +o % * Tt Refering to the epidemic that raged in mining securities during the months of October, November and December last, Mr. Galloway declared that it was a boom that ran its course ‘‘leavâ€" ing many corpses and not harming the real vital mining securities of the country.‘‘ ~ It was adduced by the speaker that ‘"‘the activity in stocks, however, has certain beneficial features which comâ€" pensate for the harmful effects of exâ€" cessive speculation. â€" We have many legitimate companies with reasonably promising mineral properties, which owing to the present public interest in mining, have been able to fill up their treasuries with funds. In fact, in the last two months some‘of these small empanies have been in the happy position of actually refusing to take money. As a result plenty of real development work will be carried out in the near future and a few mines will probably be brought in, to the permanent benefit of the inâ€" dustry and the country.‘‘ IS THE DOME MINES TO BECOME HOLDING COMPANY? The new magazine issued by Mowat McGillivray, Ottawa, says :â€"â€" ‘‘Negotiations are said to be under way for Dome‘s participation in outâ€" side mining investments in associaâ€" tion with interests very close to the powerful Newmont Mining Company of New York. Dome‘s finances would permit this as liquid assets amount to several millions and net earnings are nearly double dividend requireâ€" ments. Moreover Dome having locatâ€" ed ore in the greenstones is actually increasing its known ore reserves alâ€" though mill production is being mainâ€" tained at nearly $350,000 monthly.‘‘ The cool, comforting flavor of WRIGLEY’S Spearmint is a lasting pleasure. â€" -â€"I; cleans;s the mouth after eatingâ€"gives a clean taste and sweet breath. On Thursday afternoon last a meetâ€" ing of the executive of the Timmins Board of Trade was held in the office of the president, Mr. W. 0. Langdon, Moysey block, with only two members Af the committee unable to be presâ€" ent. It was decided to make a thorâ€" ough canvass of the town for memâ€" bers, the idea being not only to proâ€" vide for finances, but also to assure the widest possible interest in the work of the board. It was felt that if a large membership is secured there will be a corresponding measure of interest. â€"If practically all the people of the town become members of the Board of Trade they will feel that the organization is particularly theirs. Attendance at meetings may be exâ€" pected to ibe larger and the general interest greater. With increased inâ€" terest the value of the board to the town will be much increased. . The plan has been adopted this year of hbaving the fee for membership on a sort of voluntary sliding scale, as it were. It is believed that many of the men in business on a smaller scale would be willing to pay a couple of dollars for a year‘s membership but might find a larger fee burdensome. On the other hand many of the bigger business will be quite ready to pay $25.00, say, for the membership, and is some cases even more. _ Then there will no doubt ibe a large number at $5 or $10 each. In Toronto some of the big firms pay over $200.00 a year each for membership in the board of trade of that city, and they consider the money well expended. In the presâ€" ent canvass for members of the Timâ€" mins Board of Trade the "‘*sliding scale‘‘ idea for fees will be followed though there will not be many expectâ€" ed to get anywhere near the $200.00 elass. Indeed, the main idea is to BOARD OF TRADE GOING AFTER BIG MEMBERSHIP Complete Canvass of the Town Will be Made. Hope to Make Orâ€" ganization Specially Useful ‘This Year have the members subscribe as they feel they can afford, whether it be $1.00 or $100.00. The big hope at present is to secure a large memberâ€" ship from all callings and classes. This is what will make the board of trade of the greatest value. A sysâ€" tematic canvass is to ibe made for .mombers for the Timmins Board of Trade in the next few days, and all business men and others called upon should be ready to coâ€"operate as far possible in this work for the town. The executive last week decided to hold regular meetings of the board, and the first of these will be held early in April, after the membership camâ€" paign has been concluded. The new plant at the Thompson Cadillac Mines, Limited, is all installâ€" ed and in operation; shaft sinking having started in full swing March lst. It is expected that No. 1 threeâ€" compartment shaft will be down 300 feet by Mauy lst, with stations cut at the 150 and 300â€"ft. levels. The air line has been connected between No. 1 and No. 2 shafts and drifting from the hundredâ€"foot level will go forâ€" ward simultaneously with sinking No. 1 shaft. A ten stamp mill is orderâ€" ed and en route to Amos. This small mill will take care of the highâ€"grade ore at present in the dump, as well as other recoveries from drifting beâ€" ing done. The mill also provide an excellent assay plant to determine ore values in all operations. At the present time there are severâ€" al matters that require the attention and efforts of a body like the board of trade. One of these questions is the matter of the condition of the road and bridge on the road at Connaught. Unless the Government does something about this bridge at once, the whole district may be isolatâ€" ed so far.as road service is considerâ€" ed. â€"Another pressing question is that of a tourist camp for Timmins. At the next meeting of the Timmins Bard of Trade it is also likely that there will be some discussion relaâ€" tive to the recommending of the purâ€" chase of certain additional fire deâ€" partment equipment. NEW PLANT IS INTALLED AT THOMPSON CADILLAC There was a fancy skating carnival at Toronto week. _ Johnnie Govette, Meaford‘s 83 year old fancy skater should have been there. Mr. Govette performed at Clarksburg last week. He doesn‘t care a great deal for modern styles. ‘‘They do everyâ€" thing so slow,"‘‘ hi told the Mioror. "I go at it and do it ‘fa‘st."" _ Mr. Govette regrets he wasn‘t born 40 years later. ‘‘They get paid for that sort of thing now and I have heep skating 70 years for nothing.‘‘â€"Moeaâ€" ford Mirror. ‘ 6. N. ROSS$S CHARTERED ACCOUNTAN‘T Officeâ€"Room 10, Reed Block Phone 640 P.O. Box 1591, Timmins, Ont.