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Gillies Lake Expects $500,000 Output in 1937 New Vein in North Of the rew 314 vein on the 300â€"foot level which was cut by lateral diamond drilling in the north of the property, Hamlin B. Hatch, consulting engineer, said it had already widered cut to 15 feet and was running $13 and $14 a ton in the mill. In the drill core it showed only a width of seven to eight feet. "We can‘t say yet what the value of it is,"‘ Mr. Hatch explained. "In the mill 85 per cent. of the values are taken out by amalgamation and only 12 or 13 per cent. in the cyanide." This is because of the free gold in the ore, ne said, and no fair value of the vein material could be taken except by bulk sampling, such as is being done in the mill now. Drill cores showed values like $200 a ton, Bernard N. Hyman, new president of Gillies Lake, said. Stock to Be Listed CGillies Lake stock should be listed on the Toronto Stock Exchange this week, Ray M. Stanley, viceâ€"president of Gillies and chairman at the meetâ€" ing, said. Inquiries had been sent out to the shareholders and all had agreed that listing would be advisable. ‘"We have prepared ard filed the nrecessary papers," he said. "We expect the appliâ€" cation will be acted on in the coming Prcdictions that the production at Gillies Lake Por:upine Gold Mines will reach $500,000 in 1937, together with reports of rich new veins develâ€" oped already this year, and a strong financial position featured the annual meeting of the Gillies Lake Porcupine Gold Mines Ltd., held at the Oddfelâ€" lows hall here on Friday morning. Photographs of the 509 vein, opened up this month, were passed around for shareholders to see. Twenty feet wide and cf good gzgrade throughout, up this month, were for shareholders to wide and of good g the discovery on the regarded as importar New Vein | Ventures controls excellent mining enterprises in Quebec, Ontario and Manitoba, and has important interests in the North West areas. Premier Gold has, in addition to British Columbia and Ontario interests, a very imâ€" portant investment in Australia. One of the best mediums for the conservatively minded, for participation in .the developâ€" ments along Canada‘s mining highway, is through the holding companies. Towagmac Exploration has inâ€" terests in copper, silver, gold, lead and zinc, through its imâ€" portant holdings in Aldermac Copper, Francoeur Gold and Lake Geneva Mines. Royalite is a safe medium among the oil holding companies. Of the 2.000,000 shares of $1.00 par value‘* at which Gillies is capitalized, 1,937,569 shares have been isuued, the report of Secretary Samuel B. Darlich showed. Of these 388,895 shares were represented by persons present at the meeting, while 871,037 shares were reâ€" presented by proxy. Many Timmins men whoe have invested in Gillies Lake were presert and several asked quesâ€" tions about development at the mine. Three byâ€"laws were ratified, .one Market interest, however, is still concentrated on the developâ€" ing gold properties. The public memory is still fresh with the spectacular movement in Moneta shares, following diamond drillâ€" ing results. â€" Federal Kirkland, with one drill started and a secâ€" ond ready to begin, is causing particular interest. The proxiâ€" mity of its adjoining neighbours â€"~â€"Sylvanite, Toburn and Continâ€" ental Kirkland is the reason. Jellicoeâ€"in the Little Long Lac Campâ€"has reported what proâ€" Annual Meeting of Gillies Lake Porcupine Gold Mines Shows Company in Strong Financial Position, with Deâ€" velopment Proceeding with Unusual Promise. â€" Officers Elected for Ensuing Year. following figures, as of December 31st, 193 Public confiden PUBLIC CONFIDENCE Total Assets Capitul ARBELG .. ........./....;.. $1,172,980.00 Triulst Savings Account ......... 2,339,628.00 Guaranteed Trust Certificates . 3,480,137.00 Estates Under Administration. . 8$,723,839.00 We invite you to consult us regarding real estate management, trust savings, the makâ€" ing of vyour will and the administration of 1MC the 500â€"f( Under Dominion Corvrernment Inspection Corporation Limited L OTTAWA other funds n the efheient administrat level is Election of directors and officers re sulted as follows: President, Bernar N. Hyman, Buffalo, N.Y.; viceâ€"presi dent, Ray M. Stanley, Buffalo; secre tary, ~Samuel Darlith, Buffalo treasurer. Frank O. Tidy, Toronto; di rectors, William J. Kam, Buffalo, Ar thur Sproule, Toronto, John E. Cor K:C:,‘ Toronto, H. H. _Moort Timmins, and Charles D. Manuel, Lon don, Ontario. The directors‘ report for vear, as read at the meetin "Sirce your present dire taken office, we have sent to holders twentyâ€"threse separa mises to be an important develâ€"| °4 to profit and loss account, which opment, according to diamond|nOw stands at $668,077. drilling indications. Its rich ore|; Deposits were marked by a large discovery is of importance, not'growth. They stand at $112,478,420 in only to Jellicoe, but promises|comparison with $105,937.211 last year, much.for. Bankfield and Magnet | a" increase of $6,541,209. The increase Lake. over the past two years has amounted Hutchison Lake should provide|to over $14,000,000. market news at an early date. The Bank‘s security portfolio comâ€" shaft sinking is nearing the first | Brising Dominion and Provincial bonds making it possible to hold the annus meeting anywhere in Ontario; ancthe arranging for banking at the Bank 0 Nova Scotia; and the third increasin the directorate from seven to nin members. "Vein number 316 where intersected has a width ef abcut 15 feet and we have not vet cut through the vein. to over $14,000,000. The Bank‘s security portfolio comâ€" prising Dominion and Provincial bonds and other high grade securities showed a marked increase. The present total is $51,538,.902 compared with $39,516,079, kx t d ' an increase of $12,022,823 during the Underground work on the Kerr|last twelve months. Current ioans and Addison and Martin Bird properâ€"|discounts in Canada with municipal ties in the Larder TLake District|loans total $35,970,.186 or $12.069,.667 Hutchison Lake should provide market news at an earily date. shaft sinking is nearing the first level. Smelter Gold should proâ€" vide news from its diamond drillâ€" ing campaign already started. reports concernin is, therefcre, only marize what has last report. "The most important minit opment that has taker plas cpening up of four new veins, Numbers 314, 316 and 324 on foot level, and number 509 on foot level. Underground work on the Kerr Addison and Martin Bird properâ€" tles in the Larder Lake District of Ontario is creating a big pubâ€" lic following for these issues. In Quebec Field, Francoeur Gold, Astoria Rouyn, Dempsey Cadillac, Powell Rouyn and Rouyn Reward are likely to proâ€" vide important mining news. _In the Oil fields the important development has been the formâ€" ation of the Brown Qil Corporaâ€" tion with finances provided by Eastern capital. The Company is financed to drill three wells on the west flank of Turner Valley. The Company‘s holdings are reâ€" garded as proven acreage. Paâ€" calta Oils is expected to start drilling operations in the Wainâ€" wright field at an early date. The Company‘s Alberta Oil leases approximate 17.480 acres. ‘‘"*Vein number 324 has an apparent width of about lix feet where opened up. ; "Vein numbet for about thirty about six feet. "All of these veins have been opened since Januaty 1, 1937, ard the ore grawn therefrom has been treated in the mill and represents approximately 30 per cent. of the entire ore now beâ€" ing milled. "Notwithstarding this amount of deâ€" velopment ore goirg to the mill, the mill heads are averaging better than $18 to the ton. "Based upon the fcregoing, the proâ€" duction for the month of January, 1937, is continuing â€"at the same high average level that was maintained for the last quarter of 1936 durirg which we shipâ€" ped bullion valued at approximately $92,000.00. $15,716,584.00 Officers Elected e have sent to the share yâ€"three separate progres rnins your company. 1 only necessary to sum has transznpired since th 314 has been drifted on feet arnd has a width of mining devel > *156 . CC namely: the 300â€" the 500â€" ne follow Advt At the annual meeting of shareholdâ€" ers of the Dominion Bank held in Toâ€" ronto on Wednesday, January 27th, the sixtyâ€"sixth annual statement was preâ€" sented which showed the Bank to be in 2 particularly strong position. Wihilo the annual statement of past years have always shown the Dominion Bank to J3¢€ in a strong liquid position, the presâ€" ent statement is outstanding in this reâ€" spect. Cash assets appear at $26,289, 58383, or 21.7% of public iiabilities, whil immediately available assets are at the large figure of $93,.363,826, or 77% oi public liabilities. The percentage a vyear ago was G5.29. Earnings too have shown an improveâ€" ment during the year. The profits of the Bank after making provision for Dominion and Provincial Government taxes were $951,277 as compared with $901,556 in 1935, an increase of $49,.721. $700,000 was provided for dividends, $75,000 was contributed to officers‘ penâ€" sion fund, $100,000 was written off bank premises account, and $76,278 was addâ€" ed to profit and loss account, which now stands at $668,977. Strong Position Held by Dominion Bank "We purpose to keep the shareholders informed as we have in the past so that they will be acquainted with the results of our development programme. "In conclusicn, the directors desive to record with appreciation the finge efâ€" forts on the part of Bernard N. Hyman who has worked tirelessly and brought abcout the fine results to date. His work ir carrying through the comâ€" pany‘s financing programme is deservâ€" inz of commendation. Powassan News:â€"Man likes to hu delusior, especially if it comes resulted in maintginin cperations. He has reveale knowledge and comprehe property and his confid possibilities has increase EK1 Liquid Assets 17 per cent. of Public: Mabilitics:: En ‘"The year trat has just closed rought the mining and mill plant to i very high degree of operating efâ€" 12 101 nd co iciency. "We take this opporturity to express ur sinzgere appreciation for the loyal oâ€"cperation given us by our executive ;lllk 1 £ thi 11 4 V "During the past several years nfidence, vision, foresight and ; ng have giver to your company ipetus needed to make it a PC re producer. "We are particularly proud of The Ban amcecnd Griiling 1 owed interestirg larged Security Portfolio. Increased Deposits. Durit 193 W e etus needed to make it a Porci 2 We are particularly proud of th levement and we look with the u t of confidence to the future." than last flection o $5.570,701. a decre o the gradual re it of notes which in circulation unds present Bank Act mot it Directors, we expect that during he entire complexion of this proâ€" will be improved and that it will is one of the important producers Porcupine District. you well know, our easterly line ‘s the MciIintyre and Hollinger Our enginger advises that we he identical geology of these two nding producers. ‘laims t( ‘company on thes comple north has b@n done is in the quarter of the south claim. the year 1937 we expect to pleted a crosscut 2000 feet h which will bring us to the covered in t present rate st year. This reduction of liquidation of munici ‘cial advances, especially Call loans in Canada a ow an increase of sire to point out that a ing driven rorth from xplore ard open up the > the north owned by . To date the only work ‘ Cclaims has been some ng in the past which impared wit ay. roperty confKiente in increased â€" with ent development apid1v nk ilues and duction in the the Bank may the provision e last quarte continues, V of municipal especially in ‘oud of thi circulation of $331.530 years, hi and plan rogrart adding a_ strucâ€" the only § in the off d 5 OOM) tha 863 ns Wounded by Gun at Kirkland Lake Miss Muttka, a yourg woman of 22 years of age, is in Kirkland Lake hosâ€" pital, and Harry Ansara, thirty years o‘ age, is held by Kirkland Lake police, as the result of a shooting affair allegâ€" ed to have ccecurred in the apartments Tryv The Advance Want Advertisements Her fingers show powder burns. From what had been learned Friday, the Muttka girl, who was employed by a local dairy, and whno iives at home at 64 Fourth street had early in the evening been in the company of a frierd, Violet Guntilla, who lives at 90 First street. The girls ‘had visited a local hotel, went to a dance for a while and at about 1140 p.m. went to Ellies‘ place, where Ansara, who gives his occupaâ€" tion as salesman, and states that he is unemployed, was in the habit of spendâ€" ing the night. Leo Bolduc was there, apparently having been invited by telephone to attend a party, while Ansara and Ellies were both there. Bolduc and the Gunâ€" tilla girl went out to have supper, and returned, to remain in the front room. while Helen Muttka and Ansara were in the other room, sitting on a couch while Ellies lay asleep in bed. are no eyeâ€"wi shooting, as far Ansara is on are remarkably are rem ther,. Si day Harry Ansara Held by the Police After Girl is Shot in Apartments of Thos. Ellies GOLD BELT STANDING TTMMIN Vansickle TRANSPORT *‘;%%" Tkies ~Har mmil MOVING iAn 6â€"day â€" weekly _ service by experienced movers using all modern equipâ€" ment. And our prices make this offer all the more attractive. CGames:â€"luesday F Toburn; Friday, argreaves at Lake S 5, Tekimas at Sou urday. Feb. 6. TEK PHONE â€"1. tnesses of the actual ‘ as police can learn. > of twin brothers, who alike. The other broâ€" 0 a salesman. 10 TEKIMAS AT . 7. Toburn at 46 44 36 37: :0 eb. 2 No Feb. 5, 10re; Fri. hA Porcuâ€" 24 Toronto, Ont.â€"He: of February ard once men of Smythe hop Montreal Forum whe skatingy with Tommy rcons evet scoring raceâ€"sthriner or Bu. son. On Saturday evening th will be visa versa. That is t cans will battle the Leafs at City Gardens. So you see the will be flying high this week We Love to Skate According to newspaper re Henie won the Domen‘s chasing in Quebec, but the rest 0o Tcommy‘s brigade are Ontario gentle men. Conacher is froem the Queen City Carson from Parrty Sound; Gracie North Bay; Cain, Newmarket; Trot tier, Pembroke; Ward, Fort Wiiliam Wentworth, Grimsby, and â€" Radley Evans and Connell from Ottawa. EKvans and Connell from Otlawa. However, these chaps seem to be doing quite well this season,. despite the loss of one Mr. Smith. Now on Thursday night at the Maâ€" dison Square Gardens (as Fred Allen would say), Dizk Irvin‘s Mapleos will meet Red Dutton‘s Vanishirg Ameriâ€" cans to see who will be leading the corin‘g@ raceâ€"Schriner or Busher Jackâ€" Maybe she didn picture moguls did. Hoopâ€"toâ€"Hoop C. wW. sends us a clipping or the crigin of basketball which follows: The young instructor, a soccer ball in hand, addressed the group of lightâ€" lyâ€"clad youngsters whose gaze wanâ€" dered questioningly toward two peach baskets, one nailed to the balcony railâ€" ing at each end of the gymnasium. "The idea," Dr. Naismith explained, "is for cne side to get the ball in a basket without running with the balli, striking it with the fist, or holding, tripping, pushing or shouldering an opâ€" ponent. Let‘s see, there are eighteen here. That will make nine on a side." That scene enacted at the Springâ€" field,. Mass.,.. Y.M.C.A. back in 1891 marked the origin of basketball. The article continues by stating that even toâ€"day wherever the cage game is played Dr. Naismith, Canadianâ€"born gentleman, is known as the father and criginator of the hoopâ€"toâ€"hoop pasâ€" time. Number Tenâ€"i{(t ed by NHL. hocks "One in a Million fare ard this same star and ice skatin wood fame. Bruins. Number Five Thrill Is Gone. the Chicago b: Number Nineâ€"Sung by Presiden Calder to the directorsâ€"*"The More We Are Together, the Happier We‘ll Be.‘ Number Tenâ€"(tke winner)â€"renderâ€" With diamond drilling Mines being carried out } mond Drilling Company and with the entire cam; ploration and developmer capable supervision cf Min Corporation, Ltd., it is I rapid progress will be mad the property through t the property through to where an advanced campa warranted. The geological formation revealed â€" the recently completed geophysical a: geclogical of Dr. Hans Lundberg, inc Number Oneâ€"‘"Sitting on Top _ the World," rerdered by the Can: diens. Number Twoâ€""Riding High," su by the Detroit Red Wings. Number Threeâ€"*"When Day Is Done requested by the Toronto Maple Lea! Number Fourâ€"(a novelty)â€"‘"Le{ Grow Old Tosether.‘" by the Bostc Number Sixâ€"(a rousing chorus, b the Maroons)â€"*"Canadian Capers." Number Severâ€"i(the lucky number â€""Little Orphan Annie Theme Song, featured by the New York American: Number Eightâ€"Requested by Leste Patrick and the Rangersâ€""Rhythm 0o the Range." cated formations equally as j as the adjoiring property of Porcupine which is now treati cess of 700 tons of ore daily. Ladies and gentlemen, step this way Hurry, Rurry, and beat that â€" drum Professor, for here is the Hit Parade of the National Hockey League. Sports Ahoy! from here, there everywhere _by Al Rxckman â€"Here it is the once again the mi hop a rattler for by but the Toâ€"day the is tcpâ€"not Ssonja Her her way tC 11 him much. copy is back in : ash, the have won 50 ol ad melody)â€"*"The lem Loughlin anc Te in ratiler fOor th > they will g Gorman‘s Ma Te 1l ‘)â€"rendel so This ] 1€ to Holly Resear er Jackâ€" situation > Ameriâ€" and brin talkin:; flicker Boston al lad mour in exâ€" ip Â¥A 1t | Also Broke Record for Pan |~ "Palls:~~T.~ N: Took Three Points from Power. man on the honour roil. NO oniy Gaid they have every man on the list of honours, but also broke the record of total pin falls. This all happened as they rolled against the lowly Advance team, to take another four points. The printers, through sickness and hockey, had to put in the printer‘s devil and the scribe from the front office to make up the team and at that they nearly grabbed the first game. The four pin is still playing jinx: to the printers with Doc Arthur getting about as many as Hornby got the week before. ‘ With Booth back in the T. N. O. lineâ€"up, the railroaders got more conâ€" fidence, (plus one man) and took three very close points from the Power, there being only thirteen pins difference at the end of the game. Bert McQuarrie had the hard luck for the electricians and his low score was, no doubt, his team‘s downfall, but that‘s the way they fall. The honours go to all Gambles men with Ashford leading with 730, P. Nicolâ€" son 660, J. Gagnon 649; J. Tait 644 and G. Eddy, 639; The Advance had three men, J. Heacock, 712, A. Guidice, 681 and FP‘. Hornhby, 635; T. N. O., T. Fenâ€" wick 697 and W. Booth 657; Power, E. Salomaa, 684 and H. Webb, 649. Advance T. â€"<Hornby ".;..:.. 228 213 194 635 1%. . 142 > 199‘ 163 â€" 504 CGambles must have took a hint from the "Bowl Along" column of last week, and got to work last Friday to prove they were not going to be the only team left without the record of having every man on the honour roll. Not only did they have every man on the list of honours. but also broke the record of W, McHugh B. E. Towers H. Webb fidet very bein the Willhamson Mines to Start Campaign stated that it would appear there are at least six parallel veins of quartz outcropping across the schisted body running with the formation and having the same dip. Several interesting crossâ€" fractures are found striking northeast and southwest across the schisted zone. Total Gamb Hornby Garrow Heacock Arthur Guidice ra@Agnon Ashford Eddy .. Tait Nicolson B( ew Liskeard Girls‘ Hockey Team Issues Open Challenge A rmstron e)1 t e ol mson Min Doherty Roadhouse Co. Toronto 293 Bay Street Mi pt B claim Market Quotations broadcast each day at 12.20 noon 923 Gambles 1408 . 194 139 217 210 1JY Direct private wires for fast and aceurâ€" ate quotations and executions in all 1257 . 1107 ., Advance, nil. Power 140. 232 1804 147 107 > 101 ~A40;> :220 100 234 220 â€"18Q Accurate Markets and Executions in 115 263 170 214 190 197 Local Phones 1200 and 1201 Members Toronto Stock Exchange , is leaving k. when it is ed cammaign LC{., I1S preparâ€" jloration and de. 1020 970 216 287 285 216 253 204 194 17¢ 213 199 219 113 scu Porcupin 80 1081 Power 1 STOCK BROKERS Commision basis only Unlisted Stocks Mining Stocks Industrial and Public Utility Stocks Bonds 1€ 230 249 215 211 197 194 181 188 189 194 163 318 136 192 198 300 184 231 168 property scuth of jine gold claim and 5.20 p.m. 649 7130 639 644 660 539 Y 596 485 560 649 684 675 504 712 364 681 for T‘wo Thousand See _ Ski Jumpers Here The Porcupine Ski COlub‘s most sucâ€" cessful meet, from the point of view of interest, was held yesterday at the club‘s jump near the gravel claims. Fully two thousand pecple motored walked, skiâ€"ed or sncwshoed out the three miles to the affair. Traffic jams cn the Hollinger‘s road to the gravel claims showed just how many had takâ€" en the opportunity to see the three jumping events. Entries were many ard the events were run off smoothly, despite the huge Sioux Lookout Man Wins Certificate for Radio Work Porcupine Club Has Mos Successful Event. CTCOW Results Kleven, Intermed first: Ge( commer in radio "Northern Marvels" manager, I hereby â€" tending a challenge t¢tnaing clhaillénge to any Oor all giTIS hocksy clubs in your district for a set of homeâ€"andâ€"home games. As we are doing this to promote more interest in girls‘ hockey throughout the North, we will appreciate your bringâ€" ing the above challenge to the notice of the proper parties so that they can get in touch with me and arrange the piaying dates. Thanking you for your help, I beg to remain, With a who‘le girls hockey league cperating in the TP.A.A.A. now and plenty of other players available, it shouldn‘t be such a hard job for someâ€" cne to round cut a Timmins team that could at least give the Marvels a good There used to t in South Porecuyp in South Porcupine. Perhaps in the game there could be with the. opporturity now of c insg a Northern League. Girls‘ hockey seems to be on th back to popularity in some pa the North, even if the Porcupin seen little of it so far this year. Ary group of girls in the d who‘d like the chance of play Ary group of girls in the district who‘d like the chancte of playing a homeâ€"andâ€"home series to see how they stack up against outside teams is given that opportunity by Jack Koza, of New Liskeard. His team of "Northern Marâ€" vels" is anxious for competition. Here‘s the way he words the Marvels‘ chalâ€" lenge to the Porcupine:â€" Cobalt, Ont., Jaruary The Sports Editor, The Poercupine Advance, Timmirs, Ontario. Dear Sir:â€"On behalf of Liskeard Girls‘ Hockey Clut P.S.â€"My address Cobalt. lic. Anl made latd itermediate jJumping, Gec rst; George Therriault, se jumpirg, Walter Ring erry Pilon, second. The ski club intends spot ents during the coming iCluild be of equal interest ¢. _ Anncouncemert of t Timmins 19 Pine St. North H. R. BAIN COMPAMNY LTD. Bay Street T oronto How to Make MONEY in GOLD $ TOCKS MONDAY. FEBRUARY 187 those interested in buying woell uloctod mining stocks, WRITE FCg Booklet telling how to select, when to buy, how long to hold,. Sent witi\oul“chqo. to firs 1} Yours very sinzet tificates 0 he radio di semior jum}j T‘om Kleve stron and of which I ike pleasure in e> to any or all girl 1X ponsor 16 month H > New named m O bli KozZza )1 pu 19 450