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1257
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The Sylvan Lake News 1926-01-08 - 1938-12-29
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Date
1938-06-02
From
1257
Transcript
PAGE BIGHT Syluan Lake Neus OHAS. L, DUNFORD Euitor aid Publishes About Town nda, 1.50 a year ign Subs t plion in The Uptown Pheatre has an 2.00 4 your. anusually fine booking for the Advertising: Rates on Application: NOW fi: FORTNIGHT VACATION on the PACIFIC COAST tr Miia Stace, EXTRA LOW FARES ae dune, Patrons are that month of reminded two shows are at T Ss ned each night 0, with Matinees on 230, ad ur- The local yolf course with ils velvety look . followe well kept fairways, is ite best these days, and i 's of the royal and an- me ave turing ont in cient linerensing numbers to enjoy a round. An extensive gravelling pro ON THESE DATES Bill Nelson ving to build a new tinsmith shop on the JUNE 10 ll . 12 property between the News of- fice and the Lakeview Garage 24 - 25 - 26 JULY 8- 9-10 eee The warm weather of the past week has been ideal for 22 - 23-24 AUG. 12-13-14 RETURN LIMIT 16 DATES BOOK your HOLIDAYS NOW bringing-the crops. and-garden along. Potetoes are popping up like by the look of the rest of the garden stuff, we are of the opinion that the seed catalogues did not ex- mushrooms, and ayyerate after all, Mis: Joan Payne of Oxford, Bngland, Janet Strange and Miss Jarrived in Sylvan Lake yester- day and are guests of Mr. and Mrs. . Reed at Corners , S2UNSUUU ETHEL EGET AUULGDSEAUE ATAU AAOTAEGATOUU EDULE ENACT ET YOUR PRINTING ORDERS can be satisfactorily turned out at the office of The Sylvan Lake News en nANT EL nYSEUA ENTLY oe) UTEP EET NATIONAL SERVICE For CoMPLETE SATISFACTION NATIONAL ELEVATOR COMPANY, LTD. WINNIPEG CALGARY EDMONTON PORT ARTHUR yy ) mended that only O.A.C. 21 or Mensury Ottawa 60 should be eligible this year for the malting grades. O.A.C. 21 is probably the most suitable for Western Canada. There is still time for any farmer to secure excellent Registered O.A.C. 21 Barley, all cleaned and sealed in the sack, at moderate prices. See the nearest SEARLE or HOME Agent SEARLE GRAIN COMPANY LIMITED UU Ee ee Hn Malting Barley The National Barley Committee has recom- yAUCUEUUAUAANQUNAnORAQeQeeRDAnAEAEGEEsgOSREU2CUENNEANEERUEEESUEUEUHLAELELUUUERUUIEEE AOCUUNERENOUADRDSAGUQEROUSUOUNPRCOOUONEREACCSACURUA OP RARERESEUALUEREELODED 1 THE SYLVAN LAKE NEWS ann and Country enna anny been in Culgary for weeks for medical treatment is She will later) seve home this week. return for farther treatment. and Mrs, L. Hunter, Miss Mr. imtham and Mrs, Choate mot- ored to Edmonton Mondays to attend the game between the 1s and Cleveland sher vods. eee Rev. R. n lair had as his guests Monday, Rev. Ross Cam- eron of Edmonton and M derson of London, Ont. oes The plant sale held at Mar- tin s store on Wedr June 1, under the auspic the Ladies Aid of the Presbyterian Chureh was well-patronized. Favorable weather brought out 4 good crowd and all plants of- A te op, was also sday a d for sale were sold. served in connect well patronized and the sale of home couking and wafiles prov- eda great success. The ladies express thanks for the splendid support given. ess Const. Hallet, R.C.M.P. will arrive this weck from Westlock, and be stationed here for the -uminer season, eee At when trees and shrubs are look- ing lovely in their fresh green foliage, this section of Alberta has many feathered visitors- Among the smaller varieties the pert little goldfinch mukes uninteresting study. A pair of these welcome little friends started to build a nest shrub in our garden, and had it almost completed, when along this season of the year in a ne a blackbird to pull it all to pieces. Even our feathered friends have their vandal and gangster problems to contend with. eee George Hoffner has been busy for fixing his boat pier and waiting room which was somewhat extensively dam- aged before the ice went out. veral days Several members of the younger set haye been in for a dip during the past week, but tlie temperature of the water does not tempt them to stay in long. The swimming season slightly later than usual this year, but should soon be in full swing. i cee Mr. R. H. Simpson of Edmon- ton spent a few days in Sylvan Lake last week. eee The New York Giants, leaders of the National League, took when the Boston Bees pitching staff administered a 6-0 and 10 shut-out. In the latter game a fine pitching duel between Schumacher of the Giants and McFuyden of the Bees was mar- ed by a costly error by Mel Ott which let in the onlyrunscored ADVERTISE IN THE NEWS THE Sylvan Dairy F, BaRDWBLL, Prop. MILK AND CREAM Delivered Daily All Dairy Cows Gov t Tested es Mra. Angus MoClean, who has) two white. washings on Monday, . June 9 19 eGnooo500aC 3 Classified Local Market Report peovasnodaeaueaqEE Provided througlethe conrtusy of the S WANT local grain elevators. anted by Durham Se WHEAT barn (1 coat by boure cept or reject must be in by June E Namber 6 Garnet. No. 1 Garnet, No.2 Schmitt, Seon RY A CLASSIFIED ADVT. YON 5 220 OW. os Do it Today aes BARLEY . Subscribe to the News ' 7 35 20.W. A FEW CANDID WORDS ABOUT BANK EARNINGS * Half of one per cent. a year on total assets is not much of a profit margin for any business, corporate or individual. Yet that is all the velvet there is in the business of Canada s chartered banks. Banks pay interest on personal sayings deposits. They charge interest on loans. The difference is not all velvet by any means these reas (a) It costs money to operate a bank, (b) The cash reserves held by the bank earn nothing. (c) A bank must provide for losse ( ) Earnings ona great deal of a bank's ets are very low. More than 23,000 people are employed in Canada s banks. In the last ten fis 78 Canada s chart- ered banks have paid in 1 and salaries, some 376,000,000 purchasing power distributed over the Dominion. Tn the same ten years banks When business falls off or paid in taxes to municipalities prices slump, businessmen bor- 410.831,930: to provir 14.- row less nm iven yol- nd to of I niled on 2 , a total money, I ould ta 288.574 50.000 to handle 100,000 Banks have other costs, too: bushels when wheat is at 1.50 Rent on premi: stationery per bushel, but only 000 when tohandle thy the price is 1.00 af When o y Jonns are not in demand, money. ins 1 of lying idle in the banks. finds in- vestinent in Government bonds. These earn substantially less than ordinary loans. Very obviously bankers would. prefer comme I Money invested in Govern- ment bonds is, however, just as much a loan for the Govern- ment s purposes as a loan to a farmer is a credit for his pur- poses. In 1937 the ayerage of bank loans and investments: combined was 2.158.000,000; in 1929, 1,841.000,000. Thus bank credit in Canada actually greater in 1937 by 317,000,000 than in the same period of 1929, the boom year. As with credit, so with cash. As of October, 1937. over 17.000.000 more in bank notes were in the hands of the public than in October of the boom year 1929. A word with you about divi- dends, The Bank Act fixes the par yalue of bank shares at 100. The average price paid to banks by the shareholders when shares were issued was 165 per share. Of this, 100 has gone to Capital Account, and and printing; light, water a fuel: contributions to pensic and group insurance for em- ployees. Depreciation on build- ings takes a large amount each ame lt; money a bauk pays . wages or other costs can come only from the bank s re- o magic can produce it. Banking is not all sunshine. Tt has its cloudy aspects too. Banks must stand ready to pay their creditors the depositors and note-holders a hundred cents on the dollar: but banks unfortunately cannot always collect a hundred cents on the dollar They have losses, in- evitably, and must set aside substantial sums to meet them. A bank must keep itself in such a cash position as to be able to pay you your deposit whenever you see fit to with- draw it. Chartered banks are required by law to lodge with the Bank of Canada, or hold in Bank of Canada notes, five per cent. of their depositors funds: but, in practice, they always carry about twice that percentage. Deposits with and notes of the Bank of Canada earn no inter- est for the chartered ban It is necessary also to keep a further amount in short term s investments readily convertible has been placed in Reserve. into cash. The yield on such , Over many years undivided investments is low, firstly, be- profits, now amounting to 34 eause Treasury Bills and other r share, have been left in the short term securities mature at business by shareholders and short date; secondly. because added to reserve, for the greater banks haying no monopoly of security of depositors and note- money or Ged cash reserves holders. of many industrial concerns The average shareholder's in- compete for this type of in- yestment in Canada s chartered vestment. banks now, therefore, amounts Bank earnings depend very to 199 per share, A dividend largely upon loans, but a bank of say 8 per cent. on the 100 can lend only when the customer par value is, in fact, only wants to borrow. slightly over four per cent. on Ordinary bank loans in 1929 the money actually invested, or averaged 1,342,000,000; in left with the bank by the share- 1937 only 731,000,000. holder. THE CHARTERED BANKS OF CANADA Your local branch bank manager will be glad to talk banking swith you. He sill be glad to answer your questions from the standpoint of his own experience. The next article in this series will appear in this newspaper. Watch for nner AE euanaerenarine SH
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Image 1257 (1938-06-02), from microfilm reel 1257, (CU11123894). Courtesy of Early Alberta Newspapers Collection, Libraries and Cultural Resources Digital Collections, University of Calgary.