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THURSDAY, JUNE 10TH, 1937 Change in Value of Gold Very Unlikely Reasons for Retention of Present Policy Seem Beâ€" yond Question. world‘s desire files the pow resent flurry sibility of a market valu glamour Tt manity in A few yei sailly recognIiZt a symbol ofi q of an apprecii stance was th power could k There was I whecels of commerce moving and it was the one thing the value of which hardly ever varied so much that tne hope of securing gold (for money was simply another way of expressing a certain quantity of goid was the chiefâ€"source There was not a nation nor a person apart from a few idealists who could n0t be influenced to an extreme degree by the opporiunity of securing gold. It was the mainspring which kept the whecels of commerce moving and it was the one thing the value of which hardly FRYING CHICKENS, ea. AIR SERVICE DAIL Y "SPRING: SMOKED PICNICS 1b. ... COTTAGE PORK ROLLS CALF LLVER Clhiced, Ib:â€". .. .. ... BREAKFAST BACON, sliced Ib.. Mealedâ€"For Boiling (Genuine LEGS OF L‘AM B, lb. ..... Shanklessâ€"Mildly Cured VEAL ROASTS, Ib. . ... FRESH OX TONGUES, Ib... VEAL CHOPS, Ib. ... BEEF HEARTS PORHK SAUSAGES., CHOICE 1AOIN or R1IB fresh, Ib. .:. + Deliciousâ€"Our Own Make FILLETS, per Ib. FRESH PICKEREL, per Ib. Fresh Caught 1 } Boneless Split for Frying if l)gsircd rom 1J Kirkland Lake Matachewan Sudbury Toronto 1e yvellow met o the realm 0 s ago it was nized that go of power,. bu reciable quant s the actual w : to 3 lbs. aver. lb. Rouynâ€"Val D‘Or â€" Montreal PLAXE LEAVES 2:15 P.M TCO PLANE LEAYVE® KIRKLAND LAKE 1: MONTREAL 5:42 P.M EISH SPECIALS omething e for gold Db NORTHERN FLIGHTS LIMITED SK YLINES EXPRESS LIMITED thing subue aDout the : gold which almost deâ€" f description, and ithe anxiety about the posâ€" vnward revision in its is brought the strange ow metal holds for huâ€" realm of every day life. ) it was almost univerâ€" that gold was not only ver, but the possession e quantlty of this subâ€" ctual weapon by which exerted. All Times Eastern Standard TIMMINS Reservations at Leading Hotels and Phone 28, south Porcupine FROM KIRKLAND LAKE «K YLINES® EXPRE®S DAILY TO (South Poreupine) * 30 : FARE®S: sINC and per Ib. No. 1 P.EK.1. JVU 1D, DAY 14 17 POTATOES $1.89 of sat yet if condit A[ 21 19 29 20 N) zZzen, thererore, thnere IS IIULEC UFAILLC 111 gold except between producers and naâ€" tional treasuries. In spite of this fact,. the exchange of câ€"mmodities between nations is increasâ€" ing by leaps and bounds, and while we do nct hear of any of the European naâ€" ticons bzsing embarrassed by the size of their gold holdings one would be led to believe by interested parties that Great Britain and the United S:ates in parâ€" ticular are not anxicous to receive any more gold. The absurdity of this impression Ahas only to be given careful thought for it to be clearly seen, ibecause there are so few things for which the possesor of gold in quantity would be willing to make an exchange. Of course, the obviously most satisâ€" not itiocon wA evitable. Juntry C stimulation to artists in every line endeavour. A country could be rich to the point satiety in numerous forms of wealth, t if the world market was in such a idition that the particular commodity uld nct be exchanged for gold, stagâ€" ticn was not only possible but almost evitable. If on the other hand the untry could obtain gold for the surâ€" is of its staple commodity, every line industry was ensured a bounteous asure of activity. Tecday in the principal countries of e world the possession of gold is pracâ€" ally forbidden to the ordinary citiâ€" therefort POTATOES $1.89 15 P.M. ARRIVES Domino Christie‘s Premium PEANUT BUTTER Standard Quality PORK BEANS Aylmer or Clark‘s JELLY POWDERS Choics Quality Shirriff‘s Australian Seedless IWBBICE::l'IlIIillllIIIIIIIIIIIIIIIIIIIIIIII K.ehamello dden to the ordinary citiâ€" re, there is little traffic in between producers and naâ€" lIllillllllllIlllllllllllllllllllllllllllll' No. l P.K.L. 90 Ib. bag CLEANSER chmello COR NE D Helmet RETURN $16,20) $12.60 6.3.90 this impression has 1â€"11). Pkgag. goes to sufficient trouble to look for an accommodating banker he may find one | who will accept that money and give ‘ Jocal money in exchange at a dissount, but the fact remains that money has a ;var‘.able value. Further evidence of | this is furnished every time an Ameriâ€" ! can talks about his fiftyâ€"nine cent dolâ€" | lay. factory article that could be offered to| ed States the gold possessor is money, as that is the most convenient substance one can utilize if one desires to make a purchase of anything else, but when we begin to talk of money, we get into another mysâ€" terious subject, for unless money repreâ€" sents gold it begins to be a shaky form of wealth. If anyone doub‘s this he can easily acquire some education by going ‘ at that price in exchange for a dollar down into some of the States remote from Canada and try to buy something | ! I; he feels that he must have gold he is at a store with Canadian money. We are aware that times have hanged | in the past ten years and that if one goes to sufficient trouble to look for an areâ€"ammnvilatimne@ hanker he may find one and several other countries are off the gold standard, in actual fact gold does furnish the standard upâ€" on which the monies of these nations are based. What is really meant by saying that these nations are not on the gold stanâ€" dard is that they are not on the old $20.67 standard, and further that ar ordinary citizen cannot demand goid bill or a pound note as he once could. compelied to go into the markets of the world and buy it at the prevailing rate and keep it in a country which has not imposed restrictions on the private There are however other articles that one could obtain in exchange for gold, one of which would be bonds or underâ€" takings to repay either gold or money at a later date, and we have no doubt the man with gold could obtain sizeable quantities of wheat, lunper or other material of value, or even the title deeds to real estate, but any of these might be difficult of disposal when one wanted to ecither change the form of his investâ€" ment or utilize his wealth in making purchases. The contemplation of tne prublem of discovering an acceptable substitute which might take the place of gold as a combination of a universal standard of value and the means of accumulatâ€" ing negotiable wealth, demonstrates in a way that is easily comprenended, that‘! up to the present no substitute for gold | has been discovered, nor is there likely“ to be any such discovery for many| generations to come ! We trust we have indicated that there| is no insuperable difficulty in finding a | substitute that could fulfil either of these two requirements, that is to say the world could agree, although it wouldl be difficult, on something that would act as a standard of value, as standards| of weights, length, electricity, energy, heat or other properties have been deâ€" vised. but these standards are not reâ€" quired to act as means of accumulation ; it would also be possible to provide avenues whereby a man or a nation could keep piling up wealth, as potenâ€" tates, and men of wealth have done throughout the ages, by investing in land. flocks and herds or securities to say nothing of precious stones, but | these are all too subject to fluctuauon! in value to answer the purpose gold has| fulfilled and is fulfilling for in spite of the assertion that the leading nations of the world are off the gold standard| and business is being conducted on a | aollar or sterling basis without any| official tieâ€"up with gold, every inter-i national merchant or financier knows| that there is a distinct connection beâ€"| tween the monies of all ctvilized nations and gold. . ! | A ces smm mss ue o on on mm ts omm In other words while the statement 18 made that Britain as well as the Unitâ€" These Values are Effective until Saturday night, June 12th. td Flayor Salmon .93 Early 1â€"!b. Morning Pkg. . T in Ti THE PORCUPINE ADVANCE. TIMMINS," ONTARIO compellieéd to go imMm.0 UI€ Ui Jt world and buy it at the prevailing rate and keep it in a country which has not imposed restrictions on the private holdings of gold. L However, for all practical purposes the situation resolves itself{ as rollows:l As long as the United States is willing t» buy gold at $35.00 per ounce, an American dollar is considered to repreâ€" sent oncâ€"thirtyâ€"fifth of an ounce of‘ i gold. and as the British pound is being ,~held by international arrangement at around $4.93 to the pound, at the time of writing the British pound represents approximately oneâ€"seventh of an ounce of gold. | The interesting feature about this | whole subject is that both the United States and Great Britain have for some time been buying gold at the prices we have indicated, giving in exchange certain quantity of money. Now it seems reasonable to conclude that if ‘either of these nations arbitrarily % change the price of gold: downward, they will automatically recuce the value ‘of their holdings of gold and if they | decide to sell any of their accumulated gold they will receive fewer and ! pounds than they gave in exchange for this gold with the result that someone ‘m' some in.‘itution will hold money that the governments of these nations must ed States and several other countries are off the gold standard, in actual fact gold does furnish the standard upâ€" on wh‘itch the monies of these nations ‘ This proess would ertainly pcrove disastrous to any government adopting |iL and it is hard to understand why lany of those affected should contemâ€" ‘plate any such action unless they were confronted by a situation that could not be cured by any other means. The reason or excuse put forward by lthose suggesting the probability of a ‘ change in the price of gold is that some } We then found that there was a SIOWâ€" ,ing down in production because prices | were so low that it did not pay to proâ€"| duce Orâ€" manufacture â€" commodities. iPrices generally rise from one of two. | causes; either there is a scarcity of the !desired article or there is too much | money in comparison with the quantity !of the commodity, and there are two ways of halting the quantity of money | and the other is by increasing the proâ€" \ duction of the desired article. We may be astray in our reasoning, | but it does appear that in the light of the experience of the world since 1929 the sanest way to check the skyrocketâ€" ing of values is to speed up the producâ€" tion of the things purchasers are outâ€" bidding one another to secure, Anyway, it seems ridiculous for peoâ€" |ple t allow themselves to work up a \ temperature over a possible overâ€"supply of gold when one realizes that though | there is reported to be an accumulatton recdgnize and accept in payment of obâ€" ligations to the government and for which the nations have received no value. A 24 cA 2kA n | of over eleven and a half billions worth | of gold owned by the United States i Government, which looks like a itreâ€" | mendous figure, this quantity only | works cut at slightly less than $100 | worth for each individual citizen of that country. Now at $35.00 per ounce this ‘means that if each person owned the | amount of gold that bears the same prcportion to the nation‘s holding as he does to the total population he would have less than three ounces to worry about. Now prior to the change l in the price of gold, large numbers of " individuals and institutions were rather partial to possessing gold, and drastic measures had to be resorted to in some instances to compel them to hand it cver to the Government. It is quite conceivable that there are still people wha would not be unwilling to forego the earning power Oof some of their wealth if they were allowed to possess it in gold, particularly if they were as reasonably sure as they used to be that | its value would not change. such move is necessary to put a curb on the advance in values of commodities, but surely the public mind hnas not forâ€" gotten that one of the main causes of the depression was the slump in he market value of everything. Preliminary Work for New Mill at Preston East Dome (Glcbe and Mail) Preliminary work clearing site for proposed mill at Preston East Dome Mines, Porcupine district, will be carâ€" ried <n this summer, we are informed by L. I. Hall, secretary. Mill plans will be undertaken with completion of unâ€" derground development now in hand. R. D. Lord, metallurgist, has been enâ€" gaged to carry out tes‘s to qgetermine the most suitable methods 6f extracting the> gold. Flotation experiments and cvanide tests will be made, North drive on the 200â€"foot level was carried for distance of 201 feet ; accordâ€" inz to the May report of D. J. Ludgate. mine superintendent. Values comparâ€" able to those in the main crosscut were encountered for the first 30 feet. Aifiter 45 feet of blanks, the values came in again from 75 to 110 feet. Special samâ€" ples taken at 160 and 180 feet gave values of $15.40 and $51.80 per ton, reâ€" spectively. Further east and west deâ€" velcpment by Giamond â€" drilling or crosscutting will be required to prove the width and value of the ore along this drive. Newv York Journal. If you miss your razor nowadays chances are your wife is nowing the lawn with it. tâ€"s. will have to be developed to the east. Main drive on 300â€"foot level was advanced 151 feet, all in porphyry. South drive was extended 113‘ feet, with good values for 20 feet, the drift following the fostwall closely. This, was a slowâ€" Afton Ashley Brett Base Metals Big Missouri Bankficld Beattic Bidgood Bobjo Bralorne Buffalo Ankerite Canadian Malartic Castle T. Central Patricia Coniagas Coniaurum Cons. Chibougamau Dome Eldorado Faleonbridge Gillies Lake God‘s Lake 6 Granada Gunnar Hardrock Hollinger Howey Hudson Bay International Nickel Jaskson Manion Kerr Addison Kirkland Lake Lebel Oro Lake Shore Lee Gold Leitch Little Long Lac Macassa MclLeod Cockshutt Manitoba and East ; McIntyre McKenzie Red Lake } McVittie Graham |McW~a.ttex°s Mining Corporation Moneta Nipissing Night Hawk Noranda _ Omega Pamour Paymaster Pickle Crow Pioneer Preston East Dome Premier Read Authier Red Lake Goldshore Reno San Antonio | Shawkey | Sherri‘tt Gordon St. Anthony iSouth Tiblemont ‘Sullivan Cow. ‘,Su‘dbury Basin | Stadacona {Sylvanite |Bigsoe ...... |Teck Hughes |Toburn . | Ventures | Wright Hargreaves |WhiLe Eagle Albany River Brengold _ Canadian Pandora Canusa® (new) Darwin De Santis Delnite Delwood Empire G. Gale Gold Gilbes Hallnor Hugh Pam Jowsey Denton Lamaque Magnet Lake Moffatt Hall (new) O‘Leary Ossian >Porcupme Creek (unit Porcupine Goldreef Porcupine Lake IPresdor United Porcupine Vimy Wood Porcupine (unit Young Davidson Toâ€"day‘s Stocks | PORCUPINE PIONEER SYNDICATE All proceeds arising on the sale of units will be expended in the development of the proâ€" perty. All Vendor Units are pooled. As development proceeds and results warâ€" rant a company will be formed with capitalâ€" ization of three million shares and each unit will call for at least twenty (20) shares of the capital stock in such company. Creek (units) 75.00 85.00 Goldreef ... 2 2 Lake 28 Unlisted FIRST OFFERING OF 5000 UNITS S ) Bid T20 294 59.15 2 50 1,.32 48.50 Asked 32 10 12‘% 15 20 30 1.00 164 7.50 61 15.00 9.70 34.50 1.18 1.30 5.30 5 40 2.24 20A 1.40 2.58 3.15 4.00 4.95 2 45 8.10 6.15 1. 40 3.175 14093 30 2.05 12 15 Specializes in Unusual Form of Live Souvenirs Instead of bringing back the usual knick knacks sold to tourists, Beverley Nichols brings a plant, a seed, or a cutting from every country he visits and plants them in his garden. Yellow crocuses he dug up from Alpine slopes in â€" Switzerland; immortelles from France:; cornflowers from Prussia; cyâ€" clamen from the hills of Rome; white heather from the hills of Greece; vines from Tunis; anemones from a valley in Sicily; sweet bryony from Australia; a bit of ivy from Long Islandâ€"all bloom now in his garden as living souvenirs o‘ travel.â€"Beatrice Plumb in Christian Herald. Rats in One Chinese City Declare War on the Cats (New York Heraldâ€"Tribune) Linan Village has long ibeen noted in Eastern China for the precociousness of its rodent population. But recently it witnessed a sight surpassing anyâ€" thing in its history: the rats were eatâ€" ing the cats! The amazed populace watched huge families of rats gang up on the arch enemies and do what every rat has always wanted to do. They deâ€" veloped the technique of hunting in gangs. When a cat was sighted, one of the bigger and braver rats would slip away from the group. he:assumed the terrified rat expression that cats are so used to seeing; the victim started the hunt, the "dare to die" decoy led him into an ambush, and then the Doherty Roadhouse Co. â€"~STOCK BROKERS Timmins, 19 Pine North Toronto Kirkland Lake 293 Bay Street 34 Government Rd. MONTREAL CURB MARKET WINNIPEG GRAIN CHICAGO BOARD OF TRADE CANADIAN COMMODITY EXCHANGE INC. THE TORONTO STOCK EXCHANGE Commision basis only Local Phones 1200 and 1201 Market Quotations broadcast each day at 12.20 noon and 5.20 p.m. Direct private wires for fast and aceurâ€" ate quotations and executions in all ‘EAR vs. FAOCT STOCKS PINE ST Fundamental business facts point to an acceleraâ€" tion of the recovery â€"movement.. Markets conâ€" tinue to reflect a fear which is not justified by these business facts. Our present review deals with this feature of outlook for Canadian busiâ€" ness and Canadian markets. Aceurate Markets and Executions in . O‘HEABRN 4 C0. MEMBERS Unlisted Stocks Mining Stocks Industrial and Public Utility Stocks Bonds ' F. M. Wallingford {eronto Stock Exchange Copies on Request P.0. Box 1109 Timmins ( $1.00 PER UNIL BOND®S TLMMINS For,.Further Information Apply to Two Sentenced on Highâ€"grade Charges rest of the rat gang closed in and rent him limb from limb. There are very few cats in Linan now. Other Local Cases Not Yet Heard at Cochrane Disâ€" trict Court. Stydohar and Stark, local men who wore being tried by the district court now sitting in Cochrane, were each sentenced to do two months‘ imprisonâ€" ment on charges of highâ€"grading. The case was tried yesterday. Provincial Constable George White was in charge of the case. The other two local cases Steowart Hurley, charged with breaking and enâ€" tering, and Clifford Howe, charged with indezent assault, had not been heard at time of going to press. Frcm a Moscow letter: Stalin fears drath every minute. As a precaution, when he goes from his palaze to the Kremlin, 28 miles away, he has a conâ€" voy of four cars, manned by 15 Russians dressed in khaki who resemble him closely. Stalin varies his position each time by occupying a front seat in Car Nc. 1 toâ€"day, tomorrow a back seat in the last car, etc. So in order to get him, 15 others might have to be slain.â€"0O. O. Mcintyre, New York Day By Day. TORONTCO HA M L TON OTTAW A SUOBUEY COBALT CONFUSING THE ISSUE Photo at left Telephone 1090 PNMJRLA MACAJE Porcupine Mining Division Located in Bristol Township OFFICES QUARTZ VEIN On Property AYH HALHON BNIW W L L daNnnos NA1mo YONVHON VINHYS GNY 1X Ontario