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Says Mining Saved Canada in Dark Days In an address last week at Toronto Mr. S. H. Logan, president of the Canaâ€" dian Bank of Commerce, declared that the mining industry is the most stabiâ€" lizing and help influence in Canadian economy toâ€"day. It is his considered opinion that Canada was able to ride the wave of depression in safety, largely because of the advantage of the mining industry. Similar views have been exâ€" pressed in the past by people of the North and the South, but they are worth emphasizing at any time, and seem particularly timely when voiced by a man in the position of Mr. Logan. Speaking at the function in the Royal York to mark the appointment Of F. Hedley Marsh as general manaâ€" ger of the Bank of Toronto, Mr. Logan stressed the vital part played by the mining industry, particularly with reâ€" gard to the millions of dollars paid out in wages, its stimulus to other fields of endeavour, and its success in rolling back the frontiers and creating new areas of civilization. S. H. Logan Points to Part Played by Mining in Helpâ€" ing Canada. Mining men and leaders of finance attended the function, which was sponâ€" sored by the Tororco branch of the Canadian Institute of Mining and Meâ€" tallurgy. THURSDAY. DECEMBER 18T,. 1938 North Bay ford u1to Ly. NORTH BAY 8.40 a.m. Ar. TORONTO 4.05 p.m. Lv. TORONTO 8.15a.m. Ar. NORTH BAY 4.10 p.m. UNION BUS TERMINAL â€" wNORTH BAY Order Your Coal NOW From Fogg‘s Schumacher Phomne 725 John W. Fogg Limited WESTERN CANADA COALâ€"ALEXO AND CANMORE BRIQUETTES wWELSH AND AMERICAN ANTHRACITE RED RIVER SMOKELESSâ€"NEWCASTLE RED JACKETâ€"Egg and Stoker Sizes » RUSSTANâ€"Large Housenold Size Lumber, Cement, Building Materials, Coal and Coke, Mine and Mill Supplies. Yard DANCING (C‘C) UPLE Riverside Pavilion YKKET; anO IWNFOKKATION AY every SATURDAY To the Matchless Music of and his Orchestra Phone 101â€"2â€"3 SMead Office and Yard Timmins Photre 117 "I have watched the benefits derived from mining steadily permeate the | whole of our economy,‘ he said. i â€"â€""I am convinced," he said, "that this | country‘s good record for maintaining interest payments during the difficult years of the depression can be ascribed | in a very large measure to our mining ; industry, The spirit of the occasion, and the thought of how the mining industry and the econoinic structure of Canada are so inspearably bound together, were emphasized by Mr. Logan, as the chief speaker. He spoke as one who has been interested in mining and associâ€" ateéed with mininz men for over thirty years, and as one who, during that same period, has been employed by a bank whose interests have been conâ€" nected with every branch om Canadian industry. Many Purchases "In the long run that which counts in the prosperity of this country is the financial perquisites of the industry, such as wages and their concimitant purchases, the materials, power and volume of freight utilized, agricultural supplies, clothing, eats; the impetus given to allied metallurgical, chemical and manufacturing industries; and the general stability which such a wideâ€" spread and varied industry imparts to the whole of our economic system. "The purchases made by the Canauâ€" dian mining industry are amazingly well distributed. Every phase of indusâ€" try in this country, including agriculâ€" ture is benefited to some degree," Mr. Logan continued. He spoke of the "glories of mining," and G@eclared he was convinced that "there are ahead of us great developâ€" ments in the next few years." "A large part of the mineralized area of Canada has only been sceratched," he went on. ‘"We have an army of prosâ€" pectors who will go throcugh anything to find the stuff. And we have a group of mining men and industrialists whose initiative is surpassed nowhere else in the world. How then can the future of the mining industry in this country be otherwise than great?" And in forecasting the developments to come, his thoughts went back to contrast that bright outlook with "the Branch Office Kirkland Lake Phone 398 | dark days of 1932, which were the worst in the memory of any living Canadian. "Cod knows we needed a friend then." Mr. Logan concluded. "We need one now. and we shali need one in the years to come, and 1 believe that we shall, as in the past find one of our greatest friends in the mining indusâ€" "My own firstâ€"hand experience ot minins in this country began in Oobait in 1906," Mr. Logan said, "three years after a Hich deposit of silver har, been discovored in the course of railroad construction and nearly 160 years afte: an carly surveyor had mapped the area and indicated the presence of silverâ€" lead only a few miles distant from th« present site of Cobalt. In the three decades that followed I have watched the of Canada‘s mineral outpui increase nearly sixfold from $79,000,000 in 1906 t> $457,000,.000 in 1937. Aggreâ€" gate production during those year: amounted to 6,500,000,000 or double the present net direct debt of the Dominton CGovernment. That, you will agréee, is a larce contribution t> the nattional welâ€" fare." (From Ottawa Journal) People who whistle while they work are advised not to apply o the Now York Sun for a Jjob. Things are come to a pretty pass, we agree, when a great ins‘itution of that type puts out a sign that no whisvlers need apply. But there are the facts and they can‘t be whistled away. a It seoems the Park Dopartment of New York City a cityâ€"wide whiscling contest, an undertaking the Sun felt very much akin to instructing youth to acquirs the bubonic plague. They whistled uptown and they whisiâ€" led downtown. They whistled everyâ€" where under the sun and apparencly leven into the ear of some Sun editor is . mm msMc n tm m m nc en enc mm hn Recalls Depression "Â¥You will recall that during the years which followed 1929 our exports of agriâ€" cultural products, chiefly wheat, which had been the very backbone of our forâ€" eign trade, fell to less than half their normal value, and the servicing of our large per capita debt was seriously jeopardized, "Enhanced by the increased value per ounce and the steadily rising output, gold production in 1933, the low point of the depression, amountel to over 84 milâ€" lion dollars, as against less than 40 milâ€" lion in 1929, and from that year on, as the general revival got under way, gold, along with other mineral products, notâ€" ably the base metals, played a decidedly important part in stabilizing our dollar and adding to our national integrity in the matter of debt payment capacity." "What came to our rescue? The few million dollars in gold which we were able to collect and ship each week reâ€" stored confidence. As the world was watching Canada each small shipment of gold to New York was naturally given great publicity and gradually creâ€" ditors both in England and the United States began to say, ‘Well, Canada is not broke yet. She can still ship some gold.‘ So the debt which we owe to that small stream of gold shipped in those days of our dire need will go down in history as one of our outstanding achievements. Considers Whistling as One of the Lost Arts even into the ear of some Sun gditor who doesn‘t like whistling. "We ars not inimical to the humble varietiecs of musical expression," he wrote.. "A street piano reciting the charms of Miss Rosis O‘Grady still rings pleasanily in the memory after the instrument itsoelf{ has been banned by a reform administration." He was even able to forgive the rubbish colâ€" lector who at five in the morning dropped an ash can providing he was singins with true Neapolitan melody "O Sole Mio!" "But the common or and cofâ€" fice whistler is about the lowest of all human insects. Anybody who would encourage him would encourage wWar, famine and an epidemic of the hives." And so still another threat to the chastity of che Statire of Liberty that guards Manhatian. It is a sorry piece of news when an editor sets his teeth into all whistlers, whether or no. New York, inseded, seems ranidly to be losing its rank. Dewey the great purgâ€" er was defeased, the elevated trains are to be torn down, the burlesque shows were closed (or moved) and the World‘s Fair is to be held in a swamp. Sole remaining vestige of New York‘s might is LaGiuardia‘s lovely gesture of putting Jewish policemen on duty to guard the German Consulate and proâ€" tect Nazis. Viva LaGuardia!, Thc congregation, which over a periâ€" od of years had become accustomed to the short, easygoing sermons of their former minister, did not particularly welcome the overâ€"long sermons of th¢ young and enthusastic new minister, One Sunday morning the sermon was even longer than usual, and the conâ€" gregation was stirring uneasily. Sudâ€" denivy the minister «oppsd short in his denly the minister «opped short in his sermon. "My ‘friends." he said, "I "I «don‘t mind your looking at your watches to see what time it is, but I feel that I must protest when you «wart holding them to your ear to make sure that they‘re still rurning!""â€" Argosy. he ive to whistle in the Sun‘s face rOnCUPINFE ADVANCE, TIMMINS, ONTARIO Bank of Montreal Reports Progress Annual Statement Reffecets Expansion of Industrial and Commercial Avtiviâ€" ties. Continued progress is revealed by the |ern n 121st annual statement of the Bank | lished of Montreal for the period ending Oct_ | ober 31. now being distributed to shareâ€" | depos: holders. In addfion to growth in !vhe U current loans, deposits show a subâ€"| have stantial increase; the cash position of | feet, the Bank is stronger; the liquid posiâ€"| depth tion is well maintainsd and the Lotal,DOSitS assevs of $874,255,828 are at the highest | tons. point since 1929. Profits show some | qualit contraction but would have been above i and the level of the previous year had it | are °T not been for the greater amount reâ€"|â€" In quired in Dominion and Provincial| tratio Government taxes. | a rel? Deposis, at a total of $763,156.945, | EStab! are hisher by $45,357,839. _ There is| Mn# Jo0 UI |jIn} B St algUut UB MOUS KX USEQI B 03 LG9 2o$ B S id oy sugtor Sut saUtsnMt OJ SUBOT alUj 0J UoI}IDP noyusnoy) pasn BJ Jo yUEB JO UawW[I23.m2J ou} UL utonmonpa.l ‘ cwuos greater portion ( edged securities dates, now Strong Liquir Position Call loans outside of Canada at $21,â€" 493,005 are higher by $1,614,061, and call loans in Canada at $5,374,980 lower by $1,482,720. Other items among the Bank‘s investments include $159,651 in induscrial and other=~stocks, and this small amounts is $126,583 less than a year ago. Figures representing letters of credit and other banking operations are comparatively little changed. Of the tctal assets of $874,255,828, the quickly available resources total $620,â€" 335,119, which is equal to 77.80 per cent. of all liabilitiecs to the public. The year‘s net earnings, after makâ€" ing anpropriations to the corcinzent The year‘s net earnings, after makâ€"| ing appropriations to the cor.yingentz reserve fundâ€"out of which fund provision for bad and doubtful debts has been madeâ€"and after deducting | Dominion and Provincial CGovernment| taxes, were well maintained. While | the profits of $3,398,390 are $9,937 less than for the preceding year, the gov-i etnment taxes referred to increased by | $209.660. The profits were equivalent| to 446 per cent. on the capital, rest| and undivided profits, which compares | with 447 per cent. for the preceding year. The unusual dividends were paid | and,. after appropriating $500.000â€"â€"ani increase of $100,000â€" for bank preâ€"| mises, a surplus of $18,390 was carried forward. to increase the balance of | profit and loss to $1,183,254. | Principal features of the statement, which is prepared to give the public clear explanations of the various items, compared with the previous year are as follows: Cash Assets Liquid Assets Gov‘t and Other Bonds Call Loans Outâ€" side Canada Call Loans in Total Assets Canada ... 5,374,980 Current Loans 227,703 449 Tctal Deposits 763,156,045 Capital, Surplus, Undivided Proâ€" fits and Reâ€" serves for Dividends 76 916,337 Profits 3,398,390 Lady Baldwin, wife of Earl Baldâ€" win, former British prime minister, is pictured here leaving the House of Lords after the opening of parâ€" liament. A\ttends Parhament Ww tccalling $440,7 crease of $11,9204,/°(2, ant irther, growth of $3,354,995 of government bonds and ures, such investments, the on of which consists of gilt= ties which macure at rarly total of $2 874,255,828 152,540,082 620,.335.119 703,449, the $152,540,082 1937 8 829,633,950 134 610,309 5990.:051 153 6,857,700 204,760,812 717.799;1035 16897197 3 408 328 posits of appcarin Bullain, and Mc is ron information gained by Professor Bruce during his visit to Russia last year «o attend the 17th Incernational |Geological Congress., I Several large iron ors «depsoits are ‘being worked in the Urals, chief among them being those at Maznitogorsk, at present she largest ironâ€"producing cenâ€" tre in Russia, where the annual output |of iron ore is estimated at 6.000,000 tons, with reserves sufficient for formy years‘ production at this race. Four blast furnaces with an annual output !of 1,400,000 tons of pig iron are in ‘operation in the town. Next in imâ€" portance are the magnetic iron deposits at Mount Vysokaya which have been under development since 1725. At Bashenov are located the importâ€" ant asbestos deposis, production from which began in 1889. Reserves of these deposits, caluculated to a depth of about 1000 feet, are stated to be 17 million tons of fibre over 0.7 milleâ€" meters in length, and 15 million tons of short fibre. Modern plants and modâ€" ern mining methods have been estabâ€" lished by engincers familiar with the development of the Quebrec asbestos deposits. East of the city of Perm in the Urals, veinâ€"like bodies of chromite ihave been traced a distantce of 2500 feet, and have boen explored for a |depth of 900 feet. Reserves of the deâ€" !posits are placed at 6% million metric .tons. At Satka huge deposits of goodâ€" | quality magnesite are beging worked, iand at Gumbeika som» 2000 workmen tare employed in the mining of tun3sten. Mimeral Resources of Ural and Ukrame Interesting Description by Queen‘s Uinversity Proâ€" fessor. new industri country. Son doubteodlv be purpoces. I‘hne deposits is ovic as they are tw any Dborder of t micht be attac} on information are employed in the mining of tun3sten. ; In the southern Ukraine the concenâ€" tration of large deposits of minerals in a reélatively small area has l2d to the establishment of important industries : Mineral deposits occur in rocks Oof all ages, â€" and in an area less than 100 ; miles in radius there are the iron ores of Krivoi Roz, the coals of the basin of Donetz river, the salt and gypsum | se IC *Ol COI >+Ont Bbeir mt Th District Officesâ€"Bank of Commerce Buildings, Timmins, Ont. om fAt this. rax?.. JALOU with an annual outpu ns of pbig iron â€"are h npo pe mo pit ind m v I‘C PR O GRESS C H A R T Mininâ€" Brucod : that bas d uUn =â€" hn no it «du anese deposii at Nikopol. The larger bodies of iron ore range in lengths fram 350 co 3200 fect, and individual lenses have been followed to depths of 1100 fect. Some 25 iron mines are reportesd pt sSunq mou pamoI[OJ YTYUA ol pus ‘fusBlu 00} maudeu aoy)} STY Up *ssaU sst3 ow 0j se OS smOopUIA BIQ MoJ t yuBoiq put mo 08 0 a M pusâ€"pmoM o pIBS al UYPIYAM pUB AMOW ¢I$ 10 QI$ oxeu 0j oxIt pmom ol MOW WY paoyxyst put WwIy 0r owsda Ssty fsp ato 1t; pUs ‘SyIOMA SsB3 S,0[foUn StY pUnNnoIB MAOfS adlomt cotfod 1to,maG 01 passaJ â€"uc> oum ueiu Suno4 oyy JO A1ov3 oy} Utâ€"310J2G 11 pisaly PBUYU auo0 JI saâ€" SUutyjawo$s S8A oo L ness. In his 21 broke too many which followed to light. It was, as we say, a tale we had heard long since, and not in connection with the madeâ€"work programmes which have been an essential feature of the new abundance, though it was madeâ€"work, to be sure. Then it came to us. This is nothing but the plot of one of ihe greatest of the Chaplin comedies, "The Kid." wherein young Master Coogan is sent on to hurl a Gornick through the householder‘s parlor winâ€" dow. ‘ Then, after a suitable inteérval, Chaplin, the glazier, heaves into view and, in the appearance of all innocence, offers to repair the destruction. Thus after these many years, does fiction become factâ€"too many perhaps to confirm the oftâ€"asserted connection between crime movies and crime, and Sales History expancdin thes» me till Tunr nhner aevelopmen Furopean I ned 6 080 000 powt Where the Reel was "ollowed by the Real Detroit N something r1ada heard at m DP URING this period, the London Life has found methods of determining a man‘s fitness for the life insurance business before accepting him as a representative. A rating chart developed as the result of extensive research has eliminated guesswork as to men‘s abilities. KP € 1int RI\ 1€ and it pan he mang FREE ! FREE ! FREE ! 8 x 10 Enlarged Photograph With every order of portraits amounting to $5.00 or over. Have your photograph early and avoid the rush season, It takes time to finish good photographs. 9 Balsam N. 1€ HAT yet suggested once more th Art invariably that im at m ofton enough the reverse Ask Better Train Service BRetween Cochraneâ€"Hearst pa n this inSstant? 1 tion to the psopl to provide passab ‘rain service. w { suptoyxyolgq [BNUUEâ€"IUUJIS qnou}1A asttas pUs ssou1t?} asn 0J Wal] uodn teaoid ‘[JAÂ¥]] JOj0uL JOJ 9l olB speOIL Imo aloj3q SUOI ut 001 yo woly} »na 01 JUBAM aouyq pus ‘[[Â¥] oy} ult 003 way} 11245 0f quUrM Agl.L ‘A1qsuossa.t woy} 0; ‘salpOoG Jo;o opB.l} Jo sprsoq x dn paxyorul aq 0j spaol jUawWi@dtUEUI o) A â€"atddy csuteiqy Atupung asgi} 38 Oy j10JJo JO %YOI E2 psitnbot 31 Cleans Dirty Hands I1 1| |a10] 121 11 H mod that the CNR. ime its Sunday pasâ€" n Heam:, to Cochrane h is the only ms«ans of in the‘\ district after > closed to motor traf«= r the first vrime this ‘1v~_ PDrcenwer 25thâ€"â€" B bu wishes, th:y should gnize their obligaâ€" f Cochranso district weekâ€"end passenger may again remind cht and other reâ€" n thits district enâ€" asonable sorvic». lack of considera= atic conditions in is now definitely end of November. us runs between i6 are terminated ie our people supâ€" now and Christmas ‘el within the disâ€" and conserve their h> C.N.R. manageâ€" h bus competition t the operation of oys to all over tlr> railways have eoâ€"track it. Seeing vned by the people mably is run someâ€" wvishes. theyv should Phone 417 PAGE FIVE it‘s not