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Mining Stocks Bought and Sold for Cash, Fast and Efficient Service Files containing upâ€"toâ€"date informâ€" ation on all mines, kept at office for use of clients. Commission Stock Broker Bank of Commerce Bldg. Timmins Cup Cakes Thursday, Jan. 14th, 1932 are delicious when made,with Magic Baking Powder," says Miss Helen Campbell, Free Cook Bookâ€"When you bake at home, the new Magic Cook Book will give you dozens of recipes for deliâ€" cious baked foods. Write to Standard Brands Limited, Fraser Avenue and Liberty Street, Toronto, Ontarie. Director of The Chatelaine Institute extract Baking Powder 14 teaspoon salt 1 cup milk Cream butter thoroughly; add sugar a little at a time, beating well. Add yoliks of eggs and vanilia; beat well. Sift flour with baking powder and salt, and add, alternately with milk, to first mixture. Fold in stifly beaten egg whites. Bake in greased cup cake tins, or in paper baking cups, in moderate oven at 375° F. about 25 minutes. Serve warm from the oven, sprinkled with powdered sugar. Or cool, and frost the tops. You will find many delicious frosting recipes in the Magic Cook Book, 14 cup butter 2 cups pastry flour 1 cup sugar (or 134 cups 2 eggs bread flour) 14 teaspoon vanilla 3 teaspoons Magic And 3 out of 4 Canadian houseâ€" wives say Magic is their favorite. It outsells all other baking powders combined, Rememberâ€"substitutes are never as good. Do as the experts do. Use Magic Baking Powder. That‘s why Magic Baking Powder is used and recommended by The Chatelaine Institute. Magic meets all the Institute‘s rigid requirements of fine quality â€"repeated tests have proved it absolutely pure, uniform and deâ€" pendable. GOOD baking goes hand in hand with good materials," Miss Campbell will tell you. The majority of dietitians and teachérs of cookery throughout Canada plan their recipes for Magic. They use it exclusively because they know it gives conâ€" sistently better results. E6. HALL | Miss Campbell‘s Recipe for Cup Cakes P.0O0. Box 1239 The annual industrial and commerâ€" cial sprrceial issue of The Toronto Globe was full of inspiring articles and mesâ€" sages by leading men in many walks of life. There was, however, no article more encouraging or optimistic in the lissue than the message by Geo. W. Lee, chairman of the T. N. O. Railâ€" way Commission. Mr. Lee‘s articl: was as follows:â€" Nerthern Portion of Ontario Has Enormous Possibilities There are times in the history of all countries when the need for naâ€" tional unity transcends all octher conâ€" siderations. In such times of crisisâ€" when people are plunged into war or face internal or external conditions which call for solidarityâ€"good citizenâ€" ship calls for a united front to meet existing conditions and surmount the | difficulties presented. Great Possibilities for Mining in North Chairman of T. N. 0. Railway Comâ€" mission Writes of the Resources of the North Land in Mineral The financial and economic situation which today confronts Governments is virtually worldâ€"wide, Problems of administration are strenuous and stressful. Canada has not escaped the international sweep of puartial collapse and industrial deâ€" pression evidenced in Federal, Provinâ€" cial, municipal and business undertakâ€" ings, and the anxieties and distress that absund beyond her borders are also our problems. Unemploymen! here, as elsewhere, is acute, and the country as a whole is once more learâ€" ning the meaning of hard times. CGanada Is Not Discouraged. But Canada is not discouraged or disconsolate. She realizes her size and the vast potential and present wealth of her resources, and the determinaâ€" tion of her people to win through. Probably with the exception of the existing unemployment conditions, the railway solution is today the greatest single problem confronting the Govâ€" ernment and people of Canada. This railway has just closed another year‘s successful operationâ€"Oct. 31, 19831â€"and the road has never been in better physical and financial condition, due to fully maintained upkeep and the undertaking of many improvements, inâ€" cluding the practical completion of mainâ€"line extension north of Cochrane Concerning that part served by the T. N. O. Railway Commission, the general conditions have been almost nermal, with the exception of the floatâ€" ing unemployed situation, which has proved of such serious moment to the country at large. to Moose Harbour, James Bay, a disâ€" tance of 185 miles. Maintains Staff Intact. The T. N. O. Railway was able to maintain its staff intact throughout the year and thereby did not add to the prevailing unemployment conditions, but on the contrary was source of relief through the continued employâ€" ment of extra gangs for seasonable work et al. As an item of general interest denotâ€" ing the progress of the Timiskaming Northern Ontario Railway during the past ten years, it may be noted that the capital investment of the road increased from $1949%6,265 (1921) ‘to $39,433,031.23 (1930), wnich includes the Nipissing Central Railway, a subâ€" sidiary company serving the Kirkland Lake and Rouyn, Quebec, territory. This increase was due to the building of the Lorrain branch, and extension into Rouyn, etc., and the partial comâ€" pletion of the main line extension north of Cochrane to Harbour, James Bay, with certain additional rolling stock to meet requirements, givâ€" ing a total mileage of approximately 700 miles. Because of Canada‘s large depenâ€" dence upon agricultureâ€"the keystone of the country‘s wealthâ€"good and bad seasons in and prices bring about uncontrollable conditicns which are reâ€" flected in the earnings and welfare of the roads. Enormous Possibilities The northern portion of this Proâ€" vince holds enormous possibilitiee of advancement and enrichment in the near future, consequent upon mining advancement and new areas opened up for mining and prospecting. Varied Interests Served The interests served by the T. N. O. Railway are many and varied, conâ€" sisting in mining, agriculture, hydroâ€" electric power, lumbering, pulp and paper mills, etc., with the general busiâ€" ness requirements of cities and towns, which have arisen along the line of the road since its inception in 1905. The most important industry of Norâ€" thern Ontario is its yrimecious metal mining, which is steadily devslonin@ and increasing as new finld~ of importâ€" ance are opened up». lExrizcg t rny Northern Ontario mines are confiâ€" dently expected to attain a gross outâ€" put of some $40,000000 in 1932. Second Place in Gold Output Canada now occupies second place in world gold production, having exâ€" ceeded that of the United States in ance Aare opened : seasonable work, bi nigzsht throughout t Every goliâ€"mining country in the worlid is expected to increase its outâ€" put for 1931 over that of preceding years. The same causes which have been working to stimulate gold preducâ€" tion in Canada are in evidence elseâ€" where. Existing mining areas and working mines have greatly expanded and new fields are being hurried toward the production stage. Old mines have been revived and are working under ;“SS\\S‘S“S““‘S\"L\S\SWW new methods of extraction, and prosâ€" pecting has uncovered several promisâ€" ing areas of recent date. This activity is reaching its high pint in Northern Ontario because of its great areas of unexplored favourable formation. Northern Ontario is leading as it has led for years, and under present conâ€" ditions its precious metal output apâ€" proximates 70 per cent. of the total output of Canada. The QOutlook for the Future It is predicted that the country‘s production within ten years will reach $100,000,000 annually due to the reâ€" sults of the present mines expansion and the devedopment and preduction of new areas. The present total outâ€" put is approaching one million weekâ€" ly, and is increasing value to Canâ€" ada‘s commerce and industries and materially assists in maintaining the stability of the gold standard. Ten years hence it may give Canada a position in international affairs not excseded by any other country of equal ppulation. The completion of the main line to Moose Harbour, James Bay, will soon be accomplished, and the 185â€"mile exâ€" tension available for traffic some time in the early part of 1932. Ancother chapter written in the wellâ€"filled hisâ€" tory of the railway‘s achlevement and progress. Rail Connections to Subarctic The Province of Ontario will then have rail connections from the Great Lakes to the subarctic region through habitable and forested country, powâ€" ered with great rivers, and possessed of many natural resources in lignite, timber, gypsum, pulpwcod areas, and enormous deposits of highâ€"grade iron ore,, all of immense potential values. Part of this newly opened area possesâ€" ses agricultural possibilities equal to that of the Clay Belt farther south. An ccean cutlet for the Province and the development and production will then be assured, and a huge area future wealth. ‘The ligniteâ€"bearing area disclosed by Governmental operation at Coral Raâ€" pids is estimated to contain hundreds of millions of tons of good commercial fuel. When the experimental tests now being made in Canada, England, Gerâ€" many and the United States are comâ€" pleted, these deposits will give Northern Ontario another source of wealth. The commercial fishing industry will, in time, undoubtedly rank of great importance in the food supply of the country. It is estimated that in due course the output will equal in quantity and value that of the Great Lake fisheries. Vacation Spot of the North In gensral the territory served by the T. N. O. Railway is unique in its varied opportunitiee for business and pleasure. The â€" Timigami Forest Reserve, through which it runs, is the vacation spot of the North and is within 24 hours‘ train journey of the principhl cities of the Provinces, and offers the many attractions of camping, fishing, big-g'axne hunting, etc., usually cbtainâ€" able only under pioneer conditions. The North Land‘s vast potential wealth will continue to enrich the Proâ€" vince as its inevitable and destined proâ€" gress is recorded. Yearly an ep‘c of succes:ful endeavour and expansion is being snown. N~~‘h Bay Nugget:â€"We heard of one candida e in the civic elections who figured his expenses at fifty conts and another at seventyâ€"five csnts. And they say that campaigns in a city is exâ€" pensive. "The highest point of yesterday‘s ‘ achievement is the starting point of j ‘I:Tt‘t ie .i.'i:eruls.ii.ls are without equal for correcting Constipation, Acidity, Bilâ€" iousness, Headaches, and Poor Comâ€" l?(\iion. 25¢. anci\ l75c. redk;}ackat;gm. everywhere. Always ask tor them BY NAME Famous Vegetable Pills Make Short Work of Indigestion Everything for Building / est LET US MACHINEâ€"SAND YOUR HARDWOOD FLOORS Branch Offices Timmins Office closed Saturday afternoons all year round. HILLâ€"CLARKâ€"FRANCIS LTD. Head Office and Factoriesâ€"New Liskeard, Ont. Prompt Attention Given to all Kinds of Repair Work. and Yards atâ€"Sudbury, Kirkland Lake, Timmins, Ont and Noranda, Que. THE PORCUPINE ADVANCE, TIMMINS, ONTARIO What About Mines if Gold is Deposed? BUILDER‘S SUPPLIES Draper Dobie, Weliâ€"Known Mining Man, Gives Answer to Question Often Asked in Recent. Times. What would happen to the gold mines if the world went off the gold standard? This is a question that has been asked very frequently of late. It is a question that is of more than riissing importance to the North Land. One answer, and perhaps the correct one from all angles, is to reply that it is practically unthinkable to consider all the world permanently going off the gold standard. Another answer is to require a reason why the gold stanâ€" dard should be dropped permanently by any nation. These tentative anâ€" swers are ably dealt with in a recent article by Draper Dobie, of Toronto, wellâ€"known in Ontario mining and fiâ€" nancial circles. His article will be found of very sprcial interest to reaâ€" ders in general. Here it is in full:â€" What Would Happen to Gold Mines if World Went Off Gold Standard â€"(By Draper Dobie) "What would happen to the gold mines if the entire world went off the gold standard and gold became an orâ€" dinary commodity instead of a recogâ€" nized artificially valued medium of measurement of all other values?" This is a question I am asked every day and on some days several times. The first thought that arises is "Why is gold Wued at a fixed price of $20.67 in dollars or its equivalent in pounds or francs, etc., at par?" Actually this is an artifical value set because it was at the rate of the value in dollars and cents of the amount of gold contained in a British sovereign. Having a fixed price gold is not subject to the economic laws of surpiply and demand in the same sense as wheat, copper, sugar and other ordinary commodities. And yet . it fluctuates in value just as they do. For instance, if the price of wheat is $1.00 per bushel, that price is fixed by the law of supply and demand and it takes 1â€"20.67 part of an ounce Oof gold to pay for it. Yet if wheat is $2.00 bushel it takes 2â€"20.67 of an ocunce of gold to pay for it. Therefore gold in the latter case is only worth one half as much as in the former case. We sedom hear or think of it that way but conform to custom and say wheat is worth twice as much in the latter case. And so it is because gold at $20.67 per ounce beingâ€"the recogniâ€" zed world yard stick of measurement of values and not varying in price, all other things so measured must do the varying since the yard stick canâ€" not. Being one of the world‘s rarest metals since time began and being of a more or less imperishable subâ€" stance it became a logical medium to establish as a basis of value measureâ€" ment. Furthermore, its weight comâ€" bined with its rarity gave it an addiâ€" tional advantage. Strangely enough its cost of proeduction did not seem to enter into consideration when fixing its value. Yet it would appear that in actual experience all of the gold now in existence in the world must have cost more than $20.67 per ouncs. One must keer/ in mind the millions of dollars that have been spent 11} vain endeavours to find gold which was never found and to develop gold mines which never produced. This outlay must be added to the cost of actual production. It would seem probable that if all the expenditures so involved were added together and divided by the number of ounces produced the cost per ounce would likely be nearer $40 than $20.67. Indsed it might greaâ€" tly exceed $40. In such figuring one must consider‘ the time of men, in all ages, spent without remuneration. True that is an intangible factor but a factor just the same and therefore must be taken in at some value. Now to consider the criginal question. If gold ceased to be the yard stick and was no longer sought by governâ€" ments and banks as the basis of value and reserve behind currency, etc., it would naturally be thrown on the ofren market to find its own price level just as wheat, copper, and other comâ€" modities. The first reaction would probably be a severe drop in price. That would immediately cause cessation of all efâ€" fort to find gold and to develop sourâ€" ces of production. Gold mines that could not produce at a profit would cease if the price dropped low enough and would remain so until demand overtook supply. There can be no other conclusion. However, this preâ€" sents such a drastic and improbable condition that one must speculate further. It must be borne in mind that though several countries have gone off the gold standard it has not deptreciated the value of gold. On the contrary it has served to accentuate the value of and necessity for gold. Going off the gold standard means not having gold on hand to maintain sufficient reserves behind the country‘s currency and at the same time ship gold to cover forâ€" eign debit balances and so maintain the par value of currency in world money exchange markets. No% one country that has so far gone off the gold standard but would gladly makse some sacrifice to get back on again economically. Until they are all again on gold basis every one of them will be conâ€" serving their present stocks of goid and at the same time adjusting trade policies so as to decrease foreign aesbit balances and increase foreign credit balances in the hope that more gold may be received and thus bring them back to a position where the gold stanâ€" dard may again be maintained. They are doing it now and that is the prdof of my contention. There may be temâ€" porary benefits accruing to countryp by going off a gold basis under presâ€" ent strained abnormal conditions but it is inconceivable that any country desires to remain so permanently. All people hope present day disloâ€" cation due to war debts may be soon adjusted in such a way as to put all countries back on a common basis of interchange of trade, etc. Gold has been one thing which al‘ peoples of all time have been taugh! to believe has an unquestionable anc imperishable value. Its possession was regarded with pride even in ancient times and ‘the desire to Oobtain it and have it has increased rather than deâ€" creased. It scarcely seems reasonable to =up- pose that because countries become unable to maintain their currencies on a gold basis people the world over will suddenly cease to regard it as valuable and Gdesirable. "Worth its weight in gold" is a maxim which has stood the test of time and still holds Gold will be sought after by every country as the basis of its currencty and yard stick of its wealth as long as it costs what it does to produce and the supply remains insufficient to satâ€" isfy requirements. This brings us to another interesting consideration. Toâ€" day the two greatest gold producing countries are within the British Emâ€" pire and our neighbor to the south is third. The US.A. rtoduction is dimâ€" inishing. It is doubtful how long south Africa can maintain its present magnificent contribution. We hope for long. Canada on the other hand is inâ€" creasing gold production in a remarkâ€" able manner. In fact this year proâ€" duction will undoubtedly be 25%, greaâ€" ter than last year. As I said in 1927: "It is the beginning of the beginning" Ontario‘s production of gold jumped from $42,000 in 1911 to $42000,000 in 1931 and today commands a premium equal to the premium of the Ameriâ€" can dollar over the Canadian dollar in world exchange markets, Why? Because the world‘s governments, banâ€" kers angd financiers know it is the most permanent value available and that it will remain so. The world is not going off the gold standard. Sterâ€" ling, dollars, francs, lira, marks, rubles and yen may, but all the prople in the world who have by experience, tradiâ€" tion and education made gold the world‘s yard stick of values cannot be made to regard anything else as its equivalent by any sudden government action. Today it can be exchanged for at least twice as much of any othâ€" er commodity, excepting labor, as it could two years ago. things Woxdstock Sentineiâ€"Review:â€"The new duties against magazines from the United States are evidently functioning. Imports of books and printed matter in October amounted to $942,000, wh‘ch compiares wih $1,267,000 in the corresâ€" ponding mon.h last year. Therefore a "gold mine" still is and will remain the term you will use to describe something prolific in profit and desirable above all other material ESTABLISHED 1881 % SOLID AS THE CONTINENT JCAN LIFE P" OQ Permanence and financial AID $ impregnability. Assets of P# gR?". $45,000,000 held for benefit t speculate . that though me off the depreciated > contrary it the value of roing off the having gold ient reserves ency and at o ceover forâ€" #* pi, . No _ Nn e e .“.“.“.“.“.“ w .‘.“ w # ® ®, ’.“.” .“ .“.“’“. *4 *4 S * * * 4: foste+ *# # #4 ## # # #* *4 * # ## * # *4 #* w + #* # # *4 ectvafectes #* #* # # ## #* # _# #* *4 # _# #* #* #4 ** L a #* #* #4 *4 #*4 #* # _# #* #4 # _# ## LX J #* *#+* #. La #4 To and from your home hospital or trains, and to all parts of the Porcupine camp. Superior equipment and service at a price within reach of all. Limousine Ambulance We have the following highest grades of Hard and Soft Coals at our yards at Schumacher and Timmins S7TQOKE UP !!! John W. Fogg Ltd Head Office and Yard YÂ¥ ard Branch Office TIMMINS, ONT. SsSCHUMACHER KIRKLAND LAKE _ _Smokeless Horn Lump and Stoker from Little Current Domestic Coke FELDMAN TIMBER GO., LIMITED SOFT COALS Big Horn, 3 x 12 lump, from Alberta New River, 6 x 2, lump, from West Virginia WE HAVE A COMPLETE STOCK OF ROUGH AND DRESSED JACK PINE, WHITE PINE AND SPRUCE LUMBER_ Head Officeâ€"Schumacher, Ont. Phone 117 How‘s Your Coal Bin ? Do not fail to get in touch with us when in need of Lumber. You will find we can save money for you every time you buy from us. Prompt Service Day or Night Sundays and Holidays Telephonesâ€"Head Office 708, Mill 709 MATTAGAMI HEIGHTS, ONTARIO Welsh Stove and Furnace size Lyken‘s Valley, Red Ash, all sizes Newcastle, White Ash, all sizes Build your own home while Ilumber prices are low and rents are high Phone 725 Permanence and financial impregnability. Assets of $45,000,000 held for benefit of policyholdersâ€"payments to them in the last 50 years over $53,000,000. A Canadian Company