The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

Mine Purchasing Power Runs $1,000,000 Daily (By S. H. Logan, president Canadian Bankets‘ Association special annual number of The ern Miner). COAL AND wWOoDYaAaRD oOFFICE i Phone 32 64 Spruce St. South Timmins 49899 804480 The Canadian public has become mining conscious. Until a few years ago mining activity was regarded by the general public either as of econoâ€" mic benefit only in the immediate disâ€" tricts where it was carried on,. or as afâ€" fording opportunities for profits in mining stocks. But finally it has been impressed upon our people that mining has assumed a highly important place in their cconomic life, not merely be cause of its growth during a period of depression and almost general retroâ€" gression, bui also because it has deâ€" monstrated beyond a shadow of doubt its ability to add greatly to the nationâ€" al income. As individual income is derived from the national income, the former is swelled proportionately with O 040000 0090 00000 00 0 900400000006 0000 60 0 % 0 0 0 0 0 4 0 064600 04044 All Canadians Benefit Directly and Indirectly from This New Business. Gold Saved the Canadian Dollar in the Depression Days, Says the President of the Canadian Bankers‘ Association. It‘s Time to Consider Stoves! Convenient Terms â€" Liberal Tradeâ€"in Allowance So large is our stove business that we are in a position to give you the best possible proposition. Call in and see these fine models or phone and we will gladly send an experienced man up to give you a price on your present stove and help you in selecting a new one. No obligation of course. Don‘t delay. Have your new stove in before the cold weather, and enjoy its comfort. 62 Third Avenue Ideal Hardware Co. Ltd. Algoma Cokeâ€"Welsh Anthraciteâ€"Pennsy Blue Briquettes â€"Alberta â€" Pocahontas â€" wheatâ€"Nutâ€"Slack and Steam Coal. We Specialize in STOVES MORE HE YOUR FUEI the new Beach for GOutistanding Achievement in Coal and Wood Ranges. TR ANK BV growth during a period of and almost general retroâ€" it also because it has deâ€" beyond a shadow of doubt ) add greatly to the nationâ€" As individual income is n the national income, the welled proportionately with our variely Quaker wl P Ves oW C We Ne OM wl ns Ne e n Ne eP N A AT FOR DOLLAR ul coal Welsh Anthraciteâ€"Pennsylvania â€"Alberta â€" Pocahontas â€" Buckâ€" C446 % 0 ¢%%%% 0 %% % 6 % 6 %%%# 4# of the in the Northâ€" the latter. It will not do simply to profess that those directly engaged in miningâ€"the 70,000 executives, engineers and und®râ€" ground and surface workersâ€"are its sole beneficiaries, for the salary and payâ€"rolls of nearly 100 million dollars annually distributed to these psople are diffused throughout the whole length and breadth of the country as they satâ€" isfy their requirements for the necesâ€" sities and luxuriecs of life. This vast fund, or at least most of it, passes through the hands of a host of other people. Precisely the same process takes place with the 75 million dollars or more (the figure quoted is an offiâ€" cial estimate for 1934) spent directly by the mining industry for the supplies and equipment, including electric powâ€" er, necessary for its operations, as well as with the 50 millions odd it distributes in dividends each vear. (A certain reâ€" peoplile. takes plac or more clal estim Tim mins You don‘t buy a kitchen range very often . . . once or twice in a lifetime . . . yet there is no other piece of furniture in the home that is called upon to give as much service as the stove. A good stove is the housewife‘s most important helpmate and therefore her interest should be carefully considerd when selecting a range. A smart appearing quality range of strictly modâ€" ern design not only brightens up the kitchen but inspires greater interest in cooking, making it a pleasure instead of a drudgery. BEACH RANCGES Shown at right is a new Beach air circulating type, built on the prinâ€" cipal of the successful Beach furnace. Heats evenly every part of the rooms. Simple in operation and economical are these heaters and built to Beach‘s high standard of perfection. A great little heater Prices very low. Quebec Heaters from $12.00 Circulators from $26.00 Beach engineers, through scientifis reâ€" search, have determined the exacting requirements for guick troubleâ€"free cooking and have built this range which truly represents a new standard in coal range perfection. It possesses all those features which assure effiâ€" ciency, beauty and convenience and is ruggedly built for many years of ecoâ€" nomical, dependable performance. A model for every kitchen. Priced from $40 and up Excel for Combined BEAUTY EFFICIENCY and VALUE Thus, mining places a total fund of more than 200 imillion dollars directly or indirectly, at the disposal of the Canadian public, most of which shares in it, as it flows through every form of activity in which our people are engagâ€" ed. The enumerated items do not of course include the industry‘s large payâ€" ments for transportation service or taxes paid to governments. Indeed, it might justifia)ly be claimed that most servation is necessary at this point. namely, that part of these two items is first made available to nonâ€"Canadians, in proportion to the amount spent in other countries for supplies and equipâ€" ment and to the dividends to foreign investors). Gold Saved the Day There is, however, another important public service performed by the mining industry, that is, its contribution to the national foreign trade account. It is perhaps no secret that a few years ago, during the acute depression period when Canada was facing difficulties in cbtaining sufficient foreign exchange with which to meet its external obligaâ€" tions as well as to finance necessary imports, it was the newlyâ€"mined gold which was available here and acceptâ€" able everywhere that saved the day. That support in itself was one for which pay a high tribute to our mining inâ€" dustry. But there is another mineral element of strength in the national economy which snould be recorded, namely, that minerals as a whole now account for nearly 30 per cent. of our total exports and top all other exportâ€" able commodities, except agricultural products. Mining and Banking Now it may be clear as to why the Canadian public has recently acquired a sense of real appreciation of its minâ€" ing industry. But I think our banks are entitled to say that they have been interested in and closely associated with the industry from its infancy, as a result of the bankers‘ faith in its future. At present over 200 bank branches (apart from those in the large cities) are located in mining districts, many of which were established before the mining properties they were to serve came to the producing stage. In fact, the bank representatives who opened many of these branches were among the first people on the ground and frequently took the prospectors‘ trails to get there. Indeed, the foundâ€" ing of one bank, the Bank of British Columbia which was merged with The Canadian Bank of Commerce in 1901, is directly traced to the first largeâ€" scale mning operation in Canada, gold placerâ€"mining in the Cariboo. _ A glimpse of that historic event may be of the value of Canadian mineral proâ€" duction, now about a million dollars every working day, is turned into new purchasingâ€"power for the ‘Canadian public. fact opened among and fr trails t ing of of one be umbia whi Ba: directly tr le mning C cerâ€"mining Phone 216 THE PORCUPINE ADVANCE, TTIMMINS®, ONTARIO ‘any unfortunate individual who might be so far diverted from the path of Providence as to settle in these parts." It neded the lure of gold to attract atâ€" tention to the farâ€"off colonyâ€"the lure that so often had led men to discover other riches that otherwise would have lain untouched for many a year. Three itimes in a dozen yearsâ€"â€"California in 1847, Australia in 1851, British Columâ€" | bia in 1858â€"the lands bordering the Pacific had startled the world by disâ€" coveries of gold which vastly increased the world‘s yearly output. The stamâ€" : pede to the placer diggings of the Fraâ€" ser in 1858 has rarely been paralleled. From San Francisco, tens of thousands of the men who had drawn blanks, or the lesser prizes, in California‘s lottery, streamed north. They wakened the sleepy little village of Victoria to feverâ€" ish activity, hastened across the straits of the Fraser in all manner of craft, from the Hudson‘s Bay Company‘s steamers to crudely fashioned skiffs, and for claims on the bars and benches | of the golden river. The news of the gold discoveries came at the right conjuncture. In London, at this time, capital was going begging for investment. "In Lombard Street, money is a drug," was the sumâ€" mary of financial journal in the spring of 1862. The sanks‘ long and close association with mining has been both enjoyable and profitable, although they have had to share the bitter experiences with the sweet. I hope the mining industry feels that it has enjoyed advantages from the banking service with which it has been provided. There may have been instances where the banks had to deny some kind of service to a mining venâ€" ture. But if there was denial of loans with which to purchase and develop claims it can easily be explained. Banks have limitations imposed upon them by experience, and by the legal measures under which they operate. The bankâ€" ing laws of this country, it might be noted, are among the wisest ever enâ€" acted, as has been demonstrated by the barking stability Canada has enjoyed since the economic storm struck the world in 1929. It has also been provâ€" ed that most, if not all, of the banking instability elsewhere, accompanied by tragic developments for the banking public, had its origin in the legal freeâ€" dom to make capital loans, whether for industrial, realty or mining purposes, and one of the outstanding financial changes of the past year or so is the remodelling of banking in a legal way in several European countries with the cbject of confining bank lending to shortâ€"term commercial transactions and thus of preventing, or at least lessenâ€" ing, the provision of capital by banks. Now the concept of commercial bankâ€" ing in Canada, as embodied in our Bank Act and as long practised here, is precisely the new design for bankâ€" ing in a large part of Europe, namely, the provision of credit for the producâ€" tion and distribution of consumable goods. In other words, our banks canâ€" not safely undertake to make factories, farms or mines, but can, and do, finâ€" ance their productive operations. Many Services Available This banking principle as applied to mining may require some amplification. While it has been pointed out that Canadian banks themselves cannot capitalize mining, they act in an interâ€" mediary capacity by lending on selectâ€" ed mining stocks and in that manner act, in part, assstabilizing, and perhaps at times as stimulating, influences in the capital market. Obviously, the bank branches in mining districts perâ€" form all kinds of banking service for their many thousands of clients, inâ€" cluding the receipt and care of sayâ€" ings, the transmission ofâ€" money to any Canadian or foreign point and the lending of money for sundry purposes. A not unusual function in the plazcor districts is the financing of shipments of gold dustâ€"even platinumâ€"either by loans against the metal while in tranâ€" sit to the assay offices or refineries, or by outright purchas®; in the latter event the dust is frequently to be found in the tellers‘ tills ard recorded as cash. Lending against ore shipnments from mines to metallurgical plants is a quite common occurrence. Finally it might be noted that most, if not all, of the financial transactions for exports of minerals which, as already mentionéd, make up about 30 per cent. of Canâ€" adian exports as a whole and which, it might be added, had a value of 223 Early Bank History There was a call from the colony of British Columbia itself for the serâ€" vices of a bank. Writing to the Secreâ€" tary of State for the Colonies about this time, the Governor James Douglas, said: ‘"Much anxiety has been expressed by the miners generally upon the subâ€" ject of banks of deposit, which are greatly needed in every district of Britâ€" ish Columbia, the miner‘s only alternaâ€" tive at present being to bury his gold dust for security, which is known to be the general practice in Fraser‘s river; but were banks of deposit estabâ€" lished, they would willingly pay a monthly percentage on any sums they might deposit. I have iong been conâ€" vinced of the value and importance of such institutions, but without the asâ€" sistance of men of tried integrity and business habits, no such scheme could be carried out with advantage to inâ€" dividuals or to the public." This combination of circumstances led a group of London bankers and merchants, some of whom had interâ€" ests on Vancouver Island, to organize the Bank of ‘British Columbia. In July, 1862, a staff of the bank‘s men reached Victoria from London and shortly afterwards the bank opened for business. A few months later a branch was established in New Westminster, and early in the next year entry was made into the Cariboo by the opening of a branch at Richfield, an enterprise which was soon followed by the estabâ€" lishment of offices at ‘Cameronton. Barkerville and Quesnelle. Such was the beginning of an extensive banking service. Law Limits Participation million dollars in 1935, pass through the banks, thus involving the use of the extensive foreign banking facilities which our institutions have developed over a lengthy period in order that Canadian products of any kind might be sold wherever there was a market for them and,. quite as important, that the proceeds be available as quickly as possible. It is, therefore. a reasonâ€" able assumption that a great range of banking services, running into several hundred million dollars per year, is afforded the Canadian mining industry. "All systems of the Ontario Hydro Commission showed increases in priâ€" mary load for the month of September and all but two were higher in comâ€" bined primary and secondary loads as compared with the corresponding month of 1935. Once again the Northern Onâ€" tario properties showed the way in gain, having an increase in primary load of 52.6 per cent. and a combined increase of.27.5 per cent. Opening up of new mining areas with the consequent deâ€" mand for power, is the chief reason for the favourable showing. Total priâ€" mary load of all systems was 1,204,176 horsepower as compared with 1,138,072 horsepower for September, 1935, an inâ€" rease of 5.8 per cent. The Niagara sysâ€" tem showed a gain of 1.3 per cent. in primary load and a decrease of 19.5 in com‘bined primary and secondary loads. In this connection the Hydro Commisâ€" sion‘s statment issued yesterday carâ€" ried the following note: "Regarding the effect of transmission line losses on load increases in the Niagara system, it is estimated that the shrinkage in losses under this month‘s loading conâ€" ditions, as compared with September of last year, is 25,000 horsepower. Takâ€" ing this shrinkage into account, the inâ€" crease in the Niagara system primary demand would be about 4.1 per cent." . "HOLLYWOOD BOULEVARD" # InODOCTL J UUILLZ diltl 1B CLLY 1 UIjIUCS}S 111 # » "IN PERSON~ 6 yz c fi "LA8ST OF THE MOHICANS® ; 'l hl'ee WIse GuyS fi "GREEN PASTURES" ; $ CS.WWW\Q s tss * * s 4* * *4 4 % * ;\SS.\MMMMM A*A* * * * *% t ts * ts t J Mines Again Boost Loads for the Hydro A friend of The Advance, who if not a Liberal in politics is at least an inâ€" dependent, this week calls attention to the following item in The Mail and Empire an Monday:â€" Commenting on the above the friend recalls the violence with which the matter of the purchase of the Abitibi Canyon power was assailed in some quarters. It is true that little has been heard recently against the Abitibi Canyon power contracts because they are turning out so proftably for the Ontario Hydro. With this change in attitude of the government to the powâ€" er situation in the North, the friend urges and hopes for an equal change in the matter of roads. The governâ€" ment has found that the former govâ€" ernment made a profitable and foreâ€" sighted deal in securing the Abitibi Cayon power. The former government also built and maintained roads in the North, and the present government has allowed them to go to ruin. This friend suggests that in the matter of roads as in the matter of power there be a complete rightâ€"aboutâ€"face. If the government would change its tacâ€" tics and follow the old plan of spendâ€" ing a little money on roads in the North te wole province would be beneâ€" fitted and advanced. St. Mary‘s â€" Journalâ€"Argus:â€""How‘s the wife, George?" "Not so well, old boy. She‘s just had quinsy." "Gosh! How many is that you‘ve got now?" *3 3 S 8888454 5 5 * * 1 Northern Ontario Properâ€" ties Chief Cause for Gains. The Moral of it all. MATINEE DAILY AT 2.30 p.m. EVENING 7.00 and 8.50 p.m. 7 (CONTINUOUS PERFORMANCE) g * * * * * * > \)‘- *4 *4 4 MIDNIGHT sHOWS, Tuesday and Friday at 11,.30 p.m Special Matinee Every Saturday at 12.15 p.m. MONDAY TUESDAY, OCT. 26 Wiallace Beery, Barbara Stanwick and John Boles in WEDNES. THURS., OCT. 28â€"29 Melvyn Douglas and Gail Patrick in Merle Oberon, Joel McCrea, Miriam Hopkins in "The Lone Wolf Returns THURS., FRIL., SAT., OCT,. 22â€"23â€"24 " Earthworm Tractors " " A Message to Garcia " Timmins Theatres Palace "These Three" COMINXG ATTRACTION®S Joe E. Brown in A new fifteenâ€"minute presentalion, "The News Behind the News," featurâ€" ing Grattan O‘Leary, editorial writer of The Ottawa Journal, and noted Canâ€" adian news commentator, will be inâ€" augurated this week over key stations | from Sydney to Vancouver. The first ! of these breadcasts, which have been larranged by the Life Underwriters Asâ€" isociation of Carada, will be heard over CFCF, Montreal, on Wednesday, Octoâ€" ber 21, at 8.15 pm. Mr. O‘Leary will be heard regularly on Thursday and \Sundays over various stations at tim‘s which will be announced. According to present plans, both CFPRB, Toronto, 'and CFPL, London, will carry this feaâ€" ture at 10.30 every Thursday night, and at 5.45 and 4.45, respectively, on Sunâ€" day afternoons. He will be heard over a few stations on Wednesdays. ~ For many years, Mr. OLeary was a prominent figure among newspapetrâ€" io o on Lt on [ o o. o. c o o n 5o. 1 n n e Te n n n 14c ic ns sns hk it h. :4 .t * it t t t .6 000000% y h4 4. 44 014. 040 4* 24 a0 be ons aa t4 ¢ o a4 oo ae on ho as bo ho t. en es esnc *mne carancsteastestectastect Life Underwriters Sponsor News Commentary on Air| # t c *©" "® #" "a # a°"a" a""@ t # # "a \. *« .‘ * 4 #° "® + # « # # * ‘.‘. w Â¥0 U# 04 04 44 b4 64 44 44 04 ¢4 44 (23 # # # "% THOUGHTFUL Ca4RE AND DIGNITY CHARACTERIZE OUZ SERVICE 8. . W A LKER TELEPHMHONE 509 MIDNIGHT sSHOW Every sunday at 12.01 (midnight) MONDAY TUESDAY. OCT, 26â€"27 Dick Foran and Paula Stone in "Trailin‘ West" Funeral Oirector THURSDAY, OCTOBER 22 George Murphy and Nancy Carroll in " After the Dance" WEDNES. THURS., OCT,. 28â€"29 Jane Withers and John McQuire in FRIDAY SATUR., OCT. 30â€"31 Robert Young and Betty Furness in Goldfields FRIDAY SATUR., OCT. 23â€"24 Richard Dix and Leila Hyams in T I M M IN 8 " Yellow Dust " " This is Life" 22ND, 19836 Bernard Shragge, of Winnipeg, father of A. J. Shragge, of Timmins, is reportâ€" ed toâ€"day to be improved in health. Mr. Shragge, called to his father‘s bedside on Sunday morning, arrived in Winâ€" nipeg to find that there had already been an improvem®nt in his father‘s condition, although he is still fal from recovered. men "covering" the House of Commons at Ottawa, and he was president of the Press Gallery there. He possesses an intimate knowledge of politics and economics and has a keen, analytical mind.. During the new series of broadâ€" casts, he will comment on current news, touching particularly on the bearing such news has on Canada and the lives of her peopde. ITry The Advance Want Advertisement Improvement in Health of Mr. Shragge‘s Father 81 THIRD AVENUE 4t 2 4t mat mc t n 2s 2*n 282 2%2.2%2 242282 2*, Cedlactectastactastastactacteste staataate ataetsatostestactoct