Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 15, 1912, Winnipeg, Manitoba press Winnipeg monday april general manage of farm j Bank will leave prison once More. Determined the ctn Weslor two Ltd exercise Over the rates m question authority similar to wino i is exercise Over the water of part of the of the inter state Commerce and the Canadian railway commission the Bank of British North America established in 1836 incorporated by Royal charter in 1840 _ w. Toronto. April h general. Manager in. Is to extradition Ca of brought eco at Kielhl hearing Start the extradite f ver case1 wit local police the finance 0 be brought in Ottawa to Clil Criso his one Timo is la Tref Ted action of mexican bandits May get Madero govern real into trouble april 11 bandits who beat Julio r a. Auld a on the bolts of Hei item in older make him due fee the hiding Puco of her a news thursday night while Sho was a passenger in a train near Sellac to seventy sixth annual report and balance Sheet report of the directors of the Bank of British North presented to their seventy sixth yearly Al meeting on tues a March 5th, 1912. The Couit of in Echois submits Tho acc or Parij is balance Behcet tto the 30th Ciombor last it ill be seen that the profits Foi completed until 1847, to total Cist of i land and building being Yea doubt additions Ocie subsequently , but t have not pursued my re searches any further apparently no contractor was employed and out books contain Long columns of de tailed in trios of payments Tor piece work and for building Mateu als even including bricks which were out torn London to Mont real but that is not uj4 we purchased valuable building fait Jea at St John new Brunswick and Edmonton Laeita and in the course the present year we Hope to put tip suitable buildings in both places. We take from the profits of the i Alf Yucai for the credit of the pre Ina 1811 subject upon which it would be an interesting task to speak it Atli but i must briefly to notice some of tie in. Nnauc2 and a Descry which appear to me to be of principal importance. The 1u31 will of political grounds always be memorable in lies history of the Dominion but As it is Ever been the tradition of tills thai we should not to Jilich into our i do not propose by make further reference to the important Issue submitted to tie country in september or to the result the general election. In Tia do finance tie year Hab been one of steady Progress without excitement the deposits in the Canadian Banks at the end. Of december .1911. Amounted to an increase of no less than during the Jean this increase is i think a record and is oui hands. I must Bay a few Woidt respecting the i poit and in old nue Shell it the 30th Junr 1011, because Ithra report obtained two Pardoi Apha of special importance fir to the Luigi hts Undi for Ivsich the bulk j bumped in october in Rennec with the of the on Tario Bank Alsa Cipr Aifa film the Sheet no claim arose Xii Der the guarantee this you no doubt Grad with satisfaction but itch second paint Fiath to which r Diaw 0ur at Tention was of still or Cater a Moi Lance 1 As follows Ennulat a is issued to Tho prop actors on june 2s informing them that dec Royal charter been extended for j of ipod ten to july 1, at stir meet ing last year the Chan Man informed Vou that application hid been Madi to the lords of the truism a Joi this a a tension and that their was no Iea son to expert that the application would be any less favourably dealt with on former of Fabiona and it waa a pleasure to the court to be Able to i storm the Pio Prietos by Cir tilt on june 2s that these anticipations had Oten Leall Zed and now without Reading the report to which i shall refer in Delall As t Pic cd pass on to Point out the can gab in the figures submitted Jou today compared with those of a year ago the res oif land is 000, corp died Inci cabe of Boon exp ined. To Vou before that our and our liabilities Torso by it is Nee to keep on the Ruben a and we know of that policy the of u Dion Safah it Call and Short notice at Bho is an unease of and the total of there two items amounting to Actu Ahi exceeds the total of the immediate liabilities to which i have just Lect red investments. Oui holdings m exchequer bunds stands at the same total As last year Dun Mon of Canada Sonds show an Mcie Abo 01 these purchases were Mailo i time to time m Anticis of demand for circulation which sub Itu took place there no of dec m adding fun thei to tint invest men fee have now reached the which we Ai e allowed to use for Diu circulation by the tue tact that the average late Lor Call Money throughout the Yeai in new York no better than 2602 per cent and m London 239 Pel cent and consequently Iho 1 in to main tamed at Ell and Short As the line of oui has been. C inm0 Low i ate of of the the b at Al the Bank act. Thow a decrease of hav3 probably noticed the gradual reduction m the total of Tho other Merts years have elapsed the Couit decided to Exchange the other for Dominion of is in at out disposal you ill inc lived As an nto in Iai f end my wi1 now Pio Piso it a v o dividend of per Haie and a Bonus of Pei shot a making s per cent for the Yeai to to Reserve fund s121 66b to premises acc omit og6 to make the Grants which von have Edlor the so cordially Sanction Benefit of the offie Eis widows and orphan fund pension Funa and the life insurance fund and of mall in Tho payment of a Bonus of 3 pm i cent on Thor Salines to the Start and this i ubut you will Gener Grant As you done a store for i can assure of that they deserve appropriations will a Canada Bonds ten ago the l Anee Sheet of december 1901, showed Lullar the Othni investments stood at 187 166 whilst we held no Dominion of Canada at ill today As Jou so thess edit Nib Aie practically be the a cab have not been a viable j of the Sale of High and it Lias muck patient Tatchiu Nebb to result new that this is accomplished arc Well balls tied and i venture to say that in this matter of our position h most in Mauc for owns to the policy decided upon the Couit in i Snoie which Besen. To soon Utti i. The diff cuties of the Farmer further Iii creased by the congestion on the although Trio a it exit corporations used ill their a Ciiab e resources to move Usu crop and it Ost Matej that no less than bushels of wheat still Avail As to the condition Otth Siatti is was in possible to move out bal Ora the Wail i i do not Ponturo to express Vii inn but government summary a hich j have a Lieut the crop will brins oco to in e to n Nisy ten a a Ottawa Stales thit f mid t Canada occupied Label m Ai a i of ii res their value. Calculated at. The i Uriyu Pricr amour item to a truly re Mark Abl Tatai. In. To Itunina All i a. Mayna Campbell Bis usual visit to Canada and i indebted to Librn for much work in the i too Hud made for a visit 10 Canada but was Ucli to my at the last moment prevented by Pri vate affairs i rom Leavi Bijj Home. 1 now Jeg to move that the report Ami accounts to adopted. Or g. D. Whatman seconded motion. The chairman i now invite Canada. Develop More the 3 feel sure i an Inci East of Call derived from Tho change Mishich you t will pime pal to m so h Hab often up that you approve deposits How an Moase 100, a 1 Iraci than. You Are but it is Light that Ace us Tomcic to see 1 Carided the Ali inv i do net circulation or an of during the year there has increasing demand for Cir the Harvest months o Rychod a record total. To enable to Avail ourselves of our full Pri s to Avail us ism should mention thai there Are in to that total certain vpeoin.1 Winch i done expect to o notes in amount to been an dilation and in create which of the annual 1a.menutioii accustomed to Heidi from thai Imon you know Juite Well i. I am going to say but never the i Sav it the heavy expend Foi Obj i j t Tipon Balv is Oil thai l most reluctant to incur Bat n forced Uyon us. Tot to go Forward a to go Back and a must a con built pressing Tor Ward Tsotigh con Gurdus our a tips nor can i a void hold out any Hopes hat we Are Tor us to under take some import Uit it Udine Woik which has become inevitable those of you who know Montreal will i egret that tha Mac has Cemo at last when the old building up More than sixty years teen condemned the constant in crease of the work of the head office owing to Tho establishment of so Many Rew has with difficulty been prodded Tor during the last Tew years the Point has now been reached when it cannot be provided for any longer. The old building must come Down and on the present site to propose to erect a modern building which should pro vide ample space not Only for present but for. The future. This will be a Large and taking. I cannot thus told Farewell to building Thich is so familiar to Many in this room without a word of regret at the Severance of old associations anal a tribute of appreciation to those who built it our predecessors Here did their work thoroughly and Well. The site upon which be. That the Root note in another Ange bal Ance sheets refer Imp to Danson and re it will disappear Lor the alteration in the dates should allow suf list n1 time for the Lequint. To Leacu the auditors in time to be Moi pointed in he general balance Sheet to do not propose to mates any alteration m the late of the annual meeting which will still be held in March of each year As provided toy the deed of settlement. I do sure to draw your particular at Tention to this alteration because it must affect the profits shown in 1912. It is Otanous that unless Tho in foil Seea Cucuic we f Anliot Hope to earn in eleven months As much As we might do m a Lull and therefore Al though. We should not now Hava advanced the dividend unless with goo 1 Hope of a cog Able to Mam Tain it of must be prepared to Sec a Mallit net i out for 1912 than we Are Sho to43aj for me to forecast our Hopo is that we it in impossible the future but May be Able to rapidly than Canada can finance from her own therefore it is the first importance that the London Market for her securities should to safeguarded so that the. Popularity her securities now enjoy should be preserved. If any of you wish to examine More closely into this ques Tion of Canadian investments i cannot dc1 better than refer you to 111 article on the subject which appeared in the financial times of february 1, which in my opinion is a most valuable contribution to the current literature on the subject. In audit Iii to this Large a have been other channels of investment such As of real estate and mortgage leans which have attracted to Canada very Large sums of . You must also add to these totals the amount into the country by Immi Grants for Many of those entering the Farmers from the ii cited with them quite substantial in immigration shows a 1910, the for the yeas the fiscal being stated As compared with 1910. It is noticeable that creat Wiitam is in 1911 the la Igert contributor to this total whereas in 1810-envtsrarits from the exceeded those from great Britain by about manufacturers have suffered from considerable com through the importation of pig Iron from the United states were production exceeded a somewhat Slack but notwithstanding this the results appear to have been Satis factory. If is exactly two years ago that i informed you that the Dominion decided not to renew the Bounty on manufactured Iron and decision was adhered to so that. In due course the expired. It was recently announced in the London press that the present government had As a temporary measure while waiting the result of i Vestiga t on by the Tariff e Bounty of 90 cents or at the same rate As was in Force in 1910, on Iron manufactured from can but so far As i am aware ii of official statement has been made to this effect and. The advices 5qth december. 1911 by Cash and specie at Bankers and in hand by Cash at Call and Short notice to owner 249 notre Dame Avenue. G. 20501 office open this evening until 10.30. More than and 1 find from occupied borne years or urea persons with from to Cash to go in with Era who "01v Las to buy incl subdivide a property Park. Can be All sold in two months with Good profit. Cd liabilities Mclind contingencies to Walter r. Maddock Farmer building. 333 main St. Phone main 3728 is anticipated make two equal distributions of 4 per each and dropping the Bonair. To make1, Tho dividend s per cent. 1 give this explanation so As to prevent any possible disappointment when you receive the balance Sheet made up to May 31 , which will represent the profits of Only five months. The changes which i have now explained to you lire1 important and consequently we have not introduced them Vith out consultation with your auditors. 1 am authorised to say that they have their full approval 1 have occupied so much time in speaking of our. Domestic concerns that i must nol exhaust patience by referring m detail to Points of interest which naturally occur when review. Ing the Progress of the Dominion Dur which i have Seeri from Canada appear meeting Anu Marks that any shareholders May wish to make respecting the accounts or the. Report or. To e. Williams to booms a pit Sii that this motion should be without a remark of any kind fro i of the table but 1. Am sure your experience you feel that it is such a satisfactory report that the o Sharel holders have no criticisms to offer and no unfavourable remarks to make. You have referred with Feol of some Little regret i Ali Tull to the increased expenditure upon Bajik premises. 1 can idiot myself share that feeling of regret for 1 am certain from the Small observations 1 been Able to make in various j arts that jul expenditures of which i have any knowledge have Boon most economic ally Rind Rii Ost prudently Desi Kiick Avni carried Cut. You have refer Reil to and probably Siut and of the Western parts Are Well known to Many who Are Here. I have noticed also both in Victoria and to speak Only of to which Are far the a there the Sites Ara exceptionally Good and Pic buildings Are substantial and com Cieni possibly they might by Home be thought to err on the Kido of modesty but that is a matter of Caine Dabio Economy. I will not trouble you with any other remarks or waste your time further. Feel it is a. Most try statement that win love listened to i Leai hear sir. Al Aurico pow Oil 1 am g lad 10 see in Cornea rinse Whix year s accounts with m that Luteri appears in be Ati Advance in ii Mott Ili i to items. I think it is a very prudent Slop cop sideling the very my outly. Of our Lansac Torim that tin Reserve fund should be increased by in an item which one must. Of Garry with satisfaction is in. The Strong on Wirich Bank is founded. You mentioned the invest ment in Dominion of candid is. Boucly and said that you had reached t5ic limit allowed bythe Hank Art. Per haps you will just explain what that the. Words which i used in my address were these is object in to Otis investment Toi now reached the limit which. a allowed to Jiso for tie purpose of Wii clix Jat Iii by the Bank Ilij a to to Issue Nottis to the c it edit of 7ri per cent of our , Xvi at Viilo Vicil to issus further notes for the remaining 25 per cent if supported b y the Deposit of Dominion of Canada. Bonds. Tou will observe that 25 per cent is 606, the Point we now readied. Or. Powell. 1 did not quite follow a. I Niciew about the i was not sure about tie limit. With refer enee to the dividend of 0110 is ver pleased to of t this 7 id Borus this year. I suppose in Trio a Tunin we. Get the n u a Nicoli and it will be instead of i mile Are Able to make in s. Les lax with reference to the in lie Bill s financial year will in Ilter i in Daic of the a a yme it of tie dividend 1 think i have nothing full hit to a tips to congratulate Tho directors on Bdl Cess which a it Tadej their la Bors in the past Yeai a Clai the chairman i h to Iho question put of i the Pov ment of the dividend must a mid it a certain specified interval it Ler Trio meeting and Hercl in tin ear. The crop will bring to Western that summary coincides entirely with the report received from our of n Prairie branches in 1911. The was sown Iundy most favourable conditions and Fearly in the pc son the weather wag1 warm and dry yet with sufficient moisture to give excellent Jwo Mise of abundant crops. It was until the eleventh hour thai this changed and at the time., of Harvest cold an d wet., weather hindered the with the re Stilt that a. Jerreat Grain was left upon the ground exposed to the and the the right policy to to it Stilt if ins hit any shape or form work we must pay of was last y n Tad Given Nore a the and i Teliin l not be behind t n m i seconding. The was i -1 the chairman with my Vou or much for your other buit i f j i tonne n it if Khz Ruluf j Lilvy the Athabasca 445 information Bureau room 11. Forum Block main Street Winnipeg phone main 3393 a ;