Winnipeg Free Press

Winnipeg Free Press (Newspaper) - December 12, 1939, Winnipeg, Manitoba Winnipeg free press tuesday. December 12, 1939 Page thirteen to Alaska Seal skins Sale Canada i i i2. I i i Knis i Sale Loda for tin one to Anaila at the of he i i or comi y . 1 c .ni.i-1 of i Iod slalom iru1 was of Oal i m Verni years but Lull were sold at St. Eat visible bushels compared a year . Overseas shipments of Canadian wheat or the week end i a that Date were bushels compared with for tile corresponding week last year 1 showing Are the figures of the Branch of the Board of Grain com miss id tiers when. Do Bond quotations i i x i Al a 1 the Canadian Bank of Commerce reports marked Success of plan inaugurated about three years ago Ordinary Loans increase borrowers past year 111 Ubelli 1 Canada s economic Power import ant Factor War plan and the 1 Guies r us to Day Cle produce Market Bond a Eraces coast exporters see Dull Outlook Vancouver. Serrial i 1 ,.n a i . A r con. K if lumber sex r i i Frodo be o Srain tie annual meeting of share holders of the Canadian Hank of Commerce was held the head office of the Kank the City of Toronto today. Or. A. E. Arscott general manager presented one of the strongest Finan Cial statements the Bank s his tory. After reviewing the changes the hunk s position for the year ended list october which accounted for increase of Over assets to a total of or. Arscott addressed the meeting As follows general manager s address Ordinary Loans the number of borrowers during the year not including Loans made .2-1 1 by the personal loan department i totals and our analysis shows i thai of these or 01.gg pet cent of the total borrowed individually or less. dealing will this feature i should like to mention that each of our managers has fixed limit up to which he May make Loans without reference either to the superintendent of the District ii which he is located or to head of fice As the Case May be. The Grea majority of our Branch manager May lend up to without refer ence to any senior officer and Man 1 managers the larger Eon nuni ties who have had longer expert ence. Are accorded higher limits. I will be noted therefore that a Grea percentage of our Loans is made a the managers their own responsibility. This is a Complete answer to the allegation which has frequently been made that Loans generally Are so closely under the i supervision of head office author j ties that managers Are prevented i from lending where their knowl Edge of local conditions convinces them a loan could safely be made. I a Sonal loan department our personal loan department inaugurated a Little Over Ihrcke years ago for the purpose of lending under the Liuget saving plan has that period made individual Loans aggregating Over our analysis of these Loans As at the end of october shows them to by clearly indicate to service has been ice v d this would like to draw talc lion gain As 1 did last v at o the i let iat the loaning of Small amounts is y no Means confined to the per onal loan department which is a specialized service. As i have Al Eady told you their Vucu a Ell borrowers who obtained re Gular banking Loans from the tranches amounts or less he total so advanced being deposits highest Bank s history our total deposits at ire the highest the history of the Bank and show increase Over ast year of Coo deposits not scaring interest u pm ise f deposits bearing .111 Crest increase of we Lave Over a million depositors and you will be to Knou Ali it Over per cent ate 11 i Esell Ted by accounts of or it the statement Inch 1 Hui lust reviewed comparison with that of last year represent not Imiela one year s Progress Otth Matitu Tion but its development Over a period of event o duing thai Long term the Bank has ably Constan modest a scale. All such consid must be i us i nation finds my Ialene m world domination m i sit ites lion u i u of go my i i is Thi Uli i l i Sii i i i i to dime position. Canada s economic t ohm lie l Indi Tion Undi l Inch Cal id i Nti led this Ai i Tei i Lerent from those of that t i 11 i o then d Jammion As of Fol Inu from reaction consequent upon _ a m Ion of i us i Misti us lion m if fort to provide m incr i the i i us of current business conditions. 1 am glad to is h this ,10 which is Public la d 11 Thi land monthly commie civil h accomplished h u c had i and thai it has aimed v do Loco Tion by inde Pendol o go ii it ions their study of Canadian it is of particular interest just nov. When the country Large and diversified economic system is be ing transferred to a b Isis the changes Nich Hie i Iken place Canadian business Thi year seem to be of unprecedented nature. The country. I think has never any comp u Ible pc Iol lad such a Shaip use 11 Sci siness As has Mitru Icid since 1 i Spring. Intis Lipil r i m non Ember was at i i clo d Piil i advanced i i if i1 from the Low Point of the a l i i t 1u38-39. the months prior to september Humi i is is progressive Bill is ice 1 la cd Tol lowing the out Luik la Ai vis the stimulus derived irom a run by manufacturers traders and the Ujj Siisi 1 listed cd hoj m Lus Licali i d Pini i p ice Limi 11 m tin p Isi Itel l Inge of Domestic use and Broadi Mug of the t i time 3 q i u u wire com i Mali inf it Canada s Suil Ngui ii d c it so la Pinc 1 i i 1 i i Duil Lumbi i no i u Iii Joti ship mid ill lil la 1 s of nun Ciui Tho a 1 i i f s 1 1 lit of is be u g j i no of v 111 h 1 p i 1 i v Ihal m 1 i 1 i i during Hie Ivov jail vi1on Al s v o him Rufon i l 1 ix.1 i Tielli it jl1 1 pm 1 i c it my null. A if 1 Coj 001 to it oils 1 for granted Thil i i ivol r h ill i eed 1 1 is i 111 j hostilities last september Fum Canada a healthy and Rogres be co i edition. And with Ali Iii id Ell id Tecc a Nui i jul to m Al the Hock Al m i ego unions Loi i peaceful solution of International 1 i Hubli it s ins o c i thin fore Strong resistance developed unit tile Ali Luenie s Ai a j i u i nil nid to m economic transformation since which had san Lloil can i i Siedi my month 1411 ult i i by distributed Tai Picun and manufaciurin., a Thi ill is Polli d l St ill no l that mining my maim f i m hiding i i Sti s i lulled net i Ulm Jedi 111 Sci 11 j u u 111 1 at Allann i i Riboul b i 1 i enl u i i Ion pied i Tion i ,0-1011 id Villis la 0 i i i t us i the Pupil k. Nud i Aid 101 lout lot leu Ign cultus i however declined from More thai one third to 20 it by c a Eccl que Tei i is my i . Elo mint of 4 1 11 h we c us a 11 is Billj Bifid Anomie j i f Sli h Mil t Mcc i 10 Iii c Ilii i to Thi to h t d c due ii is i Iii list i i me ii i i o id duct Coli s Loi he i Coin Sui 11011 my j i Ucli Emu ii c Tod 1% i f ump i i d m i l 4 1 Llu dec is i i k i t i i it i i 1m e Imp us. Tin 11 dui i Molt the id suppl of Solh ism ii i tiij.1 Ichi Monr nun metals my me i o l Poci no of the Nicl Al Tuut i no j l i i h s .1 met and i 1 l Mil i lit i l1 11 i u l o Odilio i i i a lion i my m it i i Tiu a from Inch e i i it is int mull ils of i nunenti1 a nope include Iii Kus 11 then i less Pel Niit of inc to toils Supply f l i uni Inci Cotlon not Mou thin Mil fifth if the Pio Ilu Clio of m Jol and Gold so Eccl v measurable quantities of i Tungsten and Nickel and no natural rubber. Iron manganese Lead. And Wood pulp Are the Only materials which Germany might be i d Lesili a i of big h tins Editn Ipili lung Organ cation 1 i ii Itescu r i bin ii the a i 1 is Iii choir of the utmost importance that it be not rigidly bound by i Crit oils. Anu the u it fcc1 Lel Casid from All i i be ban 11 time onto is is s Ion i c 1 c a Toi upon fee ice then i h Tiki h c 1 c u of m Sili tinges ird i 11 i j 1 into h him tin h i i i u Tat my i me is Ell 1 Hij i 1 a i i i 1 01 i h i the lil i id r ill by ill blk Ohn i i Ili f disk i o province of Manitoba tenders for printing i i ilife by c. To c. L so under our personal loan Able secure from contiguous countries comparable proportions h Oun d Canada s War activities it a o that can p Ini Bijj Tien Oid Cit Fri v. U trials has so far been Small pro Puitung to 1 to i Capici j the fact should not be overlooked however that considerable demands have already been made upon some of our industries for a War which Yel seems Only the preparatory available tin own Var. That 1he Anglo germ no c countries sufficient f fenced. the sound judgment o speculative commitments avoided the painful losses of the readjust ment period which is bound to Law the War will be greatly i French airily i Export i. Goods to pay for the supplies War materials sin requires. Industrial development we cannot estimate accurately the economic weight o c Canada which will help to lip lie Scales the allies favor unless we realize to the full to weather reports february and March Corn closed of higher to Iwer with december 33vi and Uve Stock quo Talionis St. President s. H. Logan Calls attention to Canada s development productive capacity since the last War the Opportunity to exercise their undoubted talents a constructive manner and so satisfy essential near future than t contract. But of our War ef-1 forts is a matter of Contee lure there should be considerable satisfaction struggle. 11 should also be kept mind that great Brilain have been a state of position has changed to conform t _ that l a some years and therefore they have greatly expanded least 10 per cent greater than but actually half As Large again As 1913. When we made our supreme War Effort by abnormal utilization o Industrial equipment. But even Memling though we arc under Shadow of another great War. I do no propose to review the political events leading up to its outbreak. Germany s contemptuous disregard 0 solemn pledges of International Law of the rights of other nations and of world opinion has caused a neral feeling of revulsion against her Tew outside her own Borders will question where the guilt lies for 1hc present conflict and All the sacrifices it entails. Trade opportunities ignored for some Lime prior to this War. A notable change had been world Economy More attention than however taking place which Calls for it has Vel received. I refer to Mann needs which had Long been denied them she condemned them to greater privation and the whole world j the dislocation and sufferings of major War. Effects of War business world business men of every nation far from welcoming War. Have every reason to desire peace and Root order Domestic and International portray the growth of Canadian Industry. Now there Are not Only Many More factories and Mills but a greater variety of Industrial pro ducts and Ger proportion of fully manufactured goods flow from a More extensive for example Twenty years raw materials represented 45 cent of our total exports whereas the proportion today is Only about 1 a _ relations. They know one Quarter. The i cd reserves has so re of pre a purchasing representatives these two nations Are a position to obtain their requirements favourable . With the memory of the shortages of materials and 1913 and of the Swift prices during those years perhaps Only natural that consider Able Forward buying by private interests should have taken place when this War was declared. But View of the present commodity supplies and the Many new sources available. Inventories might wisely that the intense 4.25 3.75 1.00 per head 1 per head 9.00i 4.00 2.00 4 ii Trocme nationalism and economic sell sufficiency which was adopted by Many countries As a Means of self preservation under the Condi i Lions created by the great Depres 1 Sion exam role of this new attitude was the Trade agreement made a Little Over a year ago be tween great Britain the United states and Canada. This agreement was one of Many of a similar nature entered into recent years Between the United states and a number of other countries. While designed primarily to improve the Mutual commercial relationships of hip Roll actin nations through a Limey Iii us Mand for materials required Tor the prosecution of War and the Conse quent increase employment and general activity May produce for a time abnormal profits and atmosphere of Prosperity. They know Crago too however that Loo Prosperity is accompanied by the waste and destruction which Are part and parcel of such a conflict. Therefore a Price is fully commodity ii peace. Export Opl Ortu Mikh this seeming Saskatchewan of 192r-29. Eventually sex Indrei uie u to f acted for these wasteful losses far exceeding the temporary Gams previously secured. There can be Little doubt that the agricultural Industrial and financial difficulties which the world has h 39, recent years such As Renov inflation maladjustment of Price Levels Trade restrictions and widespread monetary and political disorders can. the Mam. Be a Sirpo mining development As i pointed the Banner period been Vear ago by the near record crops recently harvested which have Rais Arm purchasing Power by about much of the re 10 per Cen Dur Iii j j i j i i i metallic industries Early suit 1039, Thi _. foreign Trade to the extent that Vars name 01 not break 1he record of the volume of exports for the due live Ca 1 twelve months ending August last s457.000.0001 p Pacito of mining is actually a i was Appi Peak. The la huge Supply of minerals j m rec vol for Fri Tal a and other processing Al Lish Mesils has been Hin menu d difficulties under which world Trade general had for so Many years been Labouring. It is tragic that Ger Manv should have failed to recognize or perhaps deliberately ignored this change sentiment. i new is c r i i 111 f _ i of adjusting her policies 10 the trend and giving her people at Large those the the peaceful conditions i portent Quantity for part ,1 ii a ill i the ran. of the previous two Lye Trade a whole its i Cline during the if the is Virnau d Trade during the 12 of. M.2o 25 of. S2.4o 40 of. S3.55 of commercial relations Blinja expat or r re ill come arabic incr Ripe Canada s cd Lin and across National Borders year Gormeny Jim More than 40 per widest possible distributional Haf a cell the Rison Canadian exports varied available to ;