Winnipeg Free Press

Winnipeg Free Press (Newspaper) - October 2, 1934, Winnipeg, Manitoba Off that free press tuesday october 2, 1934 Dpi that the British people converted obligations totalling the enorm-1 their Effort.? will not be subject to pm ounces candidature e a their holdings of War loan Bonds j Ary expenditures incurred in providing t i timid for i Artir floated by the did throughout the world 1 seems to Rne highly significant that the Success of this great con loan and the reduction in est rates come the be conversion. So neg of the one and steamed phone s7o6i dyers cleaners Ltd. Economic recovery Hie Mother country has in during the last two recovery was so Well grounded and has been so admirably Maln thru it has restored Coura of Rind renewed Hope amongst other nations in this Cle Presslor to Strycker. I a world. It will be particularly i it Luyin Annac Lizins to know that in the i Rita. Which is the term used to c is Lunate the financial Centre o credit and of Bonds More highly Regardi a t i proud and i know Vui i Roll. Do m1 Var ind co will be mils of lne Brit us people in the Sirr Nath Cli Many or Canada. This Faith must inspire us with the i solve pare no Effort to protect our credit continue our March Alon Tho Load to recover. I Haku ii. Dist la who announced himself monday candidate for Alderman in Wurcel 2. Or. Consequent Davidson spent. 19 on the my conviction Council providing for unemployment Relief and other emergency obligations that had. To be met As the result of the Long drawn out world wide depression the savings in interest to which i have referred combined with other economies in Ordinary and capital expenditures would already Havo enabled the government to reduce taxation. Predicts tax reductions i May say. However that the steady j Progress that Canada has made in 1 business recovery during the last 18 As it is already in the expanding revenues to which the minister of finance has should eventually result in those auctions in taxes which everyone so desires and which your government i striving to achieve by every Means within its Power. In the preliminary announcement of the loan entitled a further step on the Road to t quoted j figures which demonstrate conc j Vly the Progress which has been made since the Low Point was reached in a a Briary 1933. The satisfying recovery which i Able to record a year Ajo has been consolidated and Billy unproved upon during the Pust. 1 j months. That this re covery has been based is evidenced by the fact thu we have j Niv. R. Octogenarian old timer who Curne from in lba3 and re Post he died burled sept. 27. J requirements of surviving Are widow form or v next few Days accept the conversion offer published officially in the news papers today. Purchasers of Securi ties in Large amounts such As Banks insurance companies and other institutions May fac expected to accept promptly. In fact today s reports show that Many have already done so. It would indeed be regrettable if in the pro Cess of refunding our debt the num ber of individual holders of Canada s securities should materially diminish. The wide distribution of our Bonds anon is our own people has provided a bulwark o strength to our Fin Ancial and economic Structure. More Over the individual Holder has had ins Money profitably invested where it has been absolutely secure and in stantly available in time of need. I therefore urge the Small investor to make his decision at once. It is a Case where personal interest and pm tonal service go hand in hand. Terms of ofter the terms of the offer Are com simple. Those who hold j maturing Bonds May tender them in i Exchange for new Bonds and receive j an adjusting payment in Cash. This tender May. Be Macit direct at the office of the assistant receiver general fur Cun Acla in each province a through your own Bank or Bond j dealer. All those who convert receive a Bonus of one half month s i interest. The new Bonds run for two. Five eight or meet the All classes of in i re in our prices Are the lowest. Of the Best. All work performed r my personal supervision. Plate f i 11 n c d same Day for convenient Winnipeg por offices Hul us i p i i he inn in ten the or funding Luau. Whether you wre s. Cleolder if Matt urine Buiji eligible fur now id if not entirely for patriotic Sciull s w i a level the Moli be t hey live uss Uraik a that they have inn tie n More sat Isufi tit Stigent. I he i f Iii ii in. Still hold the to iut i Hurld. Will in the the interest return of 3.81 per cent. In not a rate set arbitrarily by the j government but is one which fairly j left pct he current rate Tor Money in our own Security markets. Money is accumulating. Not eagerly sought. In rates have Utji a i therefore declined Mhz orally Aiice the tend enc i downwards. 3 j car thai women like to drive Tyjai off a dozen cars in my time and some of them Cost a great Deal of Money. But one of them could match this Ford v-8. I Tell you it s perfectly amazing the Way this car travels. I could t believe it myself until i tried it had no idea that the v-8 engine would make such a differ ence. It s so smooth you can hardly hear it. And How it can take the Hills it s the Only car i be Ever had that i really enjoy driving. You just can t compare it with any other car because there is no other car just like it. You other car under s4000 has a v-8 engine. My wife is even More enthusiastic than i am. She likes the lines and upholstery. Says she never really Felt Safe in any car until she started driving the Ford v-8. With All its Power the Ford v-8 is economical to run. Gives me the Best gasoline mileage i be Ever had and i Haven t spent a cent for repairs in Miles. I take off my hat to Henry Ford for a great Job. His Ford v-8 is the finest car i be Ever driven. Bar new Ford sunday evening hour on the air this sunday for first time. Music of familiar theme with Majestic rendition. Symphony orchestra of seventy with world famous soloists. Eight to Jirine o clock Eastern Standard time. Columbia broadcasting system. Every thursday night Fred Waring and his Pennsylva tans at Eastern Standard Columbia system. Low reduced Ford prices n Tiki tit or nerf n . A Fern buy a Ford v-8. Sec the genre to healer for Delili. Null s downward Fivi i this trend if already a pit run in the rotes paid on Bulc dras Well As Hish Grudny Sec Iiri 3 and will soon pc Scarp nver i a Liole financial system with the usmial resultant stimulus of Patci Lilit economic . The. I Between tie super a edit. Paid on Ima Turikis Bonds and the 3.81 Pel cent on the Bonds measures the Progress made in restoring interest rates to More Normal Levels from the abnormal Heights caused by the exigencies of great War. Canada has still outstanding on the London Market Bonds of an Issue sold in 1897 for a term of 50 years with an interest rate of per cent. And millions of dollars or Long term Bonds of the Dominion and of the Iraq ways were issued in that Market prior to the War carrying interest i rates of 3 to per cent. Tile Dominion loan issued in London in i last carried a Coupon of 3vi per cent and returned to the investor j less than per cent. The 12-ye.ir four per cent Bonds which we sold j in Canada one year ago on a 4.38 j per cent basis Are now Selling on the open Market Here at a Premium of i about seven Points Over the Issue j Price to yield Only 3.58 per cent. In i comparison with these rates the in j Vestor who buys the refunding loan j of 1934 is receiving terms that eminently full and attractive the decline in interest will Hsi it a iwo Folk Effi it on the National j budget. Dii cutly. It will reduce the National interest Bill by several Lions of indirectly. To will business expansion j will be reflected in rising government revenues mid declining expenditures j Tor unemployment and other special purposes. I j am Happy to report there already been a substantial improvement in government finances because of the business recovery which we have so far experienced. In the first six months of the current j year the total revenues of the Dominion exceeding those for the corresponding Jeriod of last year by Over s26.000.000. The prospects for balancing the Dominion at least on current account Are there fore excellent. The Canadian National railways have also improved their financial showing in the first eight months of the Calendar year by about sees reason for cheer should be greatly encouraged by these results because they testify to the inherent strength and recuperative Power of Canada and i Fecel cer Tain that these evidences of the improved and improving position of our revenues will be Welcome news to the tax payers of Canada. In conclusion May i express my belief and my Faith that in carrying this year s refunding loan to a successful Jon Cluelon. We shall duplicate the achievement of our citizens in the 1919 Victory loan Campaign. Many of my hearers will recall that at that time despite a waning of the spirit which had sustained the nation during four years of War Effort the response was overwhelming when the Call went out to our people to lend Money in order that Canada should fulfil her obligations to those who had served her so Well. Nearly 800.000 subscribers bought Victory j Bonds. A parallel might be drawn Between conditions then and conditions now. We Are emerging somewhat wearily perhaps from More than four years of a world wide depression without parallel in history it is a coincidence that we Are called upon at this time to refund obligations incurred after four years of War. And my Confidence the character of our people is i. That i know we shall not falter in 1he task lies before is. When we consider the present Posi Tion of Canada and compare our with the distress and unhappiness under which Peoples of so Many other nations Are Labouring we j indeed cause for congratulation and reason for thanksgiving. This encouraging position on the eve of this great refunding loan Campaign will i am confident awaken sympathetic response in the hearts of All citizens. So far As it lies with a the Power of canadians directly or indirectly to mate a Success of the Campaign so do i believe they will exercise that Power to the limit of their ability. Session of sask. Legislature wih be called for nov. 8 the of i Gina oct. First session of the new legislature will be con ened thursday nov. 8, Premier j. O. Gardiner announced. Monday. Two main matters will be i consideration before the legislature adjourned until after Christmas j these Are debt adjustment Legisla j Tion and tax arrears consolidation legislation. New j ice inflation May also be . I but will not be put through until i after Christmas. Announcing our second the All those that took advantage of our first in dress Sale in july will not forget the wonderful values offered. You will find these values As great if not greater. Purchase a dress at or and for Only one cent More you get an extra dress. Hostess formal afternoon evening dinner business Complete Range of the wanted shades in wools satins silk crepes sheer crepes fancy weave crepes sizes 14 to 48 two for Deposit will hold your Purchase no mail orders Sale starts tuesday 9 . Madam 432 Portage ave. Power bldg open saturday our windows ;