434

Date 1912-09-09

From 434

h one tongue, they say. ney to be made porn right. Big chances now. es. p on easy terms, open. property to * sell Sept, ...... 1912. ) with you, subject rst display of Millinery in House Friday and Sat- t. 6th and 7th. Misses ; Sherratt. L ESTATE ALTAWANA Lots 3-4, 1,000, cash. ots 25-30, 1260 a pr, 47-3t. Lots 11-16, 735 a pr., Lots 36-40, 600 a pr., HERALD ots 28-29, 1600 a pr., Lots 8-11, 950 a pr, Lot 16, 600, Terms. Lots 39-40, 750 a pr., NTRAL PARK Lots 1-2, 735. Terms Ms ft, 875, terms. Lots 31-32, 575, SCHOOL ANNEX Lot 32, 525, cash. Lots 29-30, 1100 a erms. Realy Ho and lass Insurance. te P. 0. Box 816, Ltd. na own and we supply about getting : tried our But- uniformly the ind you-will eat ARDSON, Gen. Mgr. isinnivimieliiniiot OPENED. bitter feet Phone 54. Country circulation. ka open to ad- DAILY EDITION W. ALP. AND , A. Be TELEGRAPHIC SERVICE MEDICINE HAT, ALBERTA, CANADA. MONDAY. SEPTEMBER 9, 1912 of Ten Per Cent, ern Tour. Winnipeg, Sept s. : ian Pacific Railway, arrived in city by special train to-night on hi annual inspect on tour of the sy: tem. He is accompanied by Matthews, R.'Qsler, of Osler, Hammond Nantin. Sir Thomas and his met at the station Whyte and A. M. Nanton George Bury, vice-president general manager of the road, Gran rived. in the city in Sir Thomas Shanugithessy s special car, gone down to Fort William to meet eiests Taterviewod later, Sir made a full statement of the Canad new stock issue,the rate jurisdiction and adian Pacifie Railway. Of the proposal of the new stock issue, he intimated that it, was made necessary by the increasing scope of the company s undertakings and was in no way affected by the fact that. lange dividends have been. paid. These, he said, wer -to a great ex- tent, revenues from land sales quite apart from the earnings of the rajl- The ben percent Ye-d seribed saying that for years the company had eatted more n ten per cent. on its capital in- as a red-letter, vesting and had mitted to nate way board. He was*full of optimism concern - ing the outlook this fall. Last year predicted, he. all Tt will be just the same this fearful things. were said, but everybody game out right. time: You can't keep the west down, and it is impoxsible it. Discussing the proposed stock issue of the Canadian Pacific railway . Sir Thomas said: The policy and affairs subjects for discussion and criticism by the public and the press of Can- Thomas ada. Shaughnessy, president of the Canad- the three directors of the company, R. B. An- gus, Sir Edmund Osler and W. D. find by Ferdinand F. Begg, a London financier and former member of the British House, James ond, now of Montreal, put for- well known in Winnipeg, and and party: were by Sir William and Hall, general superintendent, J. D. Sullivan and D.C. Canieron, also ar- having, him. Sir Thomas and his friends are he-Royal-Alexandra Hotel. Thomas ian Pacific poliey with regard to the issue of stock below the market quotations, freight other matters of much interest concerning the Can- conseqpiently aub control by the rail- to discourage of the Canadian Pacific are proper Ge dashneasy Explains in Detail the Propos d issu of Canadian Pacific Stark Head of . P. R. Gives Reason Why Issue Will, With Government Sanction, Made Below Par Increased Dividends Not the Reason for Increase Muchj Dividen (W. ALP Dispaten.) The . company s would naturally breed some jealousy and the bogey of molon-cutting as i ig s- with a degree of effectiveness would not be cumstances. No doubt* with me that the people of way; try have it hard knocks themselves, they. would not permit any. ontsider to hit it. While I say the affairs of the Canad- ian Pacific-are proper subject for dis- eugsion in Canada, we should start with correct. clusions will not be fair and sound. it know, that the cash subsidies, large amounts received from the sales of latd and the proceeds of land grant bonds, all of which were applied. to t tho construction and equipment of the railway, play no part whatever in the accounts of the company, the - duged by these amounts years ago. The land: grant has proved to be a most valuable asset, but if we -go back to 1888 we find that 15,000,- 000 of land grant bonds secured by the entire land grant of the company and fortified by a Dominion govern - ment guarantee of interest only re- alized about ninety in the market. This would represent an average price of about eighty cents an acre, so that twenty-four years ago this was the valuation put upon the lands tly the investing pubjic. In 1901 the average selliag price of the lands was-a shade over 3 an acre. In 1902-the first: real activity in land sales commenced, due in. a measure to sales in larg acres given to colonization agents at a very low figure but-in-thatyear the average price an a then the price thas steadily advanced, and the railway company, the farm- er-and the owner of farm lands of any other description in Western Can- ada has reaped the benefit of value. So that for 17 years after the com- ered by anybody, and it was only after 1902 that stupendous efforts and the vast expenditures of the com- pany attracted attention and started to bring people west and commenced to bear fruit and became an import- ant feature n the financial affairs. * Well-known Hat Character Dead Fred Winterbattom, Who Family, Died English arage Bricklayer by Trade But Dissipation Sateen His Downfall. One of the Hat's notable and well known characters in the person of Fred Winterbottom was found dead this morning in the garage of the Dominion Motor Co. Death was due to natural causes. For years the deceased had been a character around the city, He was well known by everyone, particularly to the bartenders, police-and the hangers-on around the hotels; he was customer of the former, a pal of the next, and-a-once-and-a-while cal- ler on the Jatter. 1 He was a bricklayer by trade, nd at one time he was considered one of the best in the city. His love for the flowing bowl was his worst enemy, and proved the cause. of his downfall. From a highly respected member of a well-to-do English fam- ily, he gradually sank lower and lower. ' For years he has slept where ever/he happened to be wher the night overtook him. -He correspond- ed but little with his family in Eng- land. In fact it is so long since any mail lias come for him that. those who looked after such matters for him have forgotter Lis home address and there is. now some difficulty be- ing experienced im locating the ad- dress of the members of his family. Winterbottom. is known to be the owner of several houses in England but despite this fact he died in po- verty, without a cent, without a rodt over his, head that he could call his own. For years ho has slept around the 8 three story building in England. Comes From Well-to-do in Local G: Was a city in different places. He used to be the janitor of the Young Men's Club when it was in existence. Lat- ex he used to sleep im the basement of the Methodist Church till this was found out and he was told to seck shelter elsewhere. Not to be outdone it is said that he took a blanket and used to crawl into the furnace of the church and sleep there till his hiding place was located. For some time past he has been sleeping in the garage where he died. He acted as a kind of a night porter there in payment for the privilege. Often he has. been numbered among those whose names graced the pro- vincial Indian list but recently his term ran out. On Aug. 21 last he was. arrested for being drank and being fined was giv- en time-to find the money to pay the fine. Only: on Friday last did he ap- pear at the police station and hand- ing the amount of the fine to, the Chief asked for a receipt. The deccased was of a most pe- culiar disposition. He was gruff character, very quick and pointed of speech. Just what his age was is att r of dispute. Some say a li tle over 30, others say 40 and ot ers 50. The remains have been taken in charge by Mr. Nott, the undertaker, and are being hel: at his tongue un- til his. relatives are located. The deceased had only one eye, having lost his other in a fall from prosperity is sometimes termed can be flaunted that possible in other cir- you agree Canada take a just pride im their great rail- would not let any other coun- for. the world, and in- deed, while they give it a good many premises or our con- Most people forget or do not cost of the property having heen re- been submitted t pletion of the railway, the land grant * in that vast wilderness. was not cov- ? issue Sir Thomas passed on to Pany pays A0 per cent. dividends. T notice, he said, that frequent Pany s contract wi government. tract provided: that the company's tate for the carriage traffic should not be subject to parliamentary su- pervision until such time as the com- Pany was earning ten per cent. per annum on the capital actually in- vested in the work. Dividends, play- ed no part you will observe. It made no difference whether th com- Pany was paying 20 per cent, 10 per cent, 5 per cent. or no dividend at, all, The determining factor was the earnings resulting from the opera tion of the railway. For a long time we'have not pleaded that we were not carning 10 per cent. Our rates and tolls have the railway com: mission and are dealt with in ex actly, the same way as any other railway company in the country. ex- cepting the Intercolonial, which does not come under the jurisdiction ' off the commission. So that the ten Percent clause as it is called bas been a dead issue for a considerable period, the lowest on the continent, but the subject of rates is now be- fore the commission for considera-; tion, and therefore Ido not think it) Proper to enlarge upon the. subject Tt may be taken for granted; that whatever the decision of the commis- sion may be, the ten percent clause will . not bea. . factory. directly or indirectly. As I said before, it was a condition of the original con- tract that was swamped and burried by the growth of the doshpany now oven if the company desired to do so. Speaking of the issue of stock be- low the market quotation, Sir Thomas proceeded: Now: any petS i Knows about the litures that are foreed upon us: by year to providle additional facilities apart from the new. rate mileage can understand the necessity for increase in capital account. In the ten years ending with June 30, 1912, the Company expended in West- ern Canada for increased indls, yard sidings, trackage and other faciluties 75,000,000 and in. Bastern Canada nearly 44,000,000 and addi- tional cars and locomotives cost in that period over 81,000,009 so that we have here an expenditure of 200,- 000,000 that had come from the pro- ceeds of sales of common and pre- ferred stock and from surplus earn - ings. I think that every fimancial man who has given the subject thought will testify that the Com- Pany s financial policy has been wise and prudent and that its present strong position is due to almost universal faith in the correctness of its rauthods. But some one says, If the shares are selling in the market at 270 why let the shareholders have the stock on any lower basis? The man who asks the question means well, no doubt, but overlooks the fact that the shareholders are the Prop of the Company, who have no, guarantee whatever of future divid- fends, who invest their money becatise they have faith in the future of the Company and take chance on a ser- ies of bad crops, or-war or. anything else that may some time or another in the future, have serious influence on the Company's revenue. The bond or debenture holder has security for his fixed return, but the share holder of the common stock is not in that, position. The Board of Direct- ors of the Company in determinin P the issue -price of the stook must take into account many things that do not occur to those who lack in- timacy with the Company's affairs, or indeed with financial aflairs gen- erally. Credit of 2 government or a municipality, or a railroad company. con sideration of the proposed control of rates by Parliament after the tom- reference is made to avhat is known as the Tem Percent Clause in the com- the Dominion Briefly stated, the eon- fy, they, Will exercise thei any other causes. for to the shareholders, will be free from Blame, disappointment and- never fall below the figure named. You will soe at-onice that our Cam undesirable position if an Order in reduced to a figure that. represents a loss to the shareholders. Manifestly, while it is p quite competent for the Government to refuse point its approval of proposed inereuse. in a railway capital stock, and thus in all: likeli- hood force restriction of expenditure, ith constituent public loss and in onvenience, there are in my opinion no conceivable grounds upon which that same Governm nt could fix an issue price in exeesssof the par valtie the security. When people purthase our com- mon stock, they have in mind an in: Vestment that WillYgive them a re- liable return inthe future. The in- Yestor takes into a count the issue Price on the average-Yalue of his en- tire holding. shareholder has 100 shares ol which the marketi'price is 270 and he. sul, scribes for 30 additional shares at 175 the-average prite of his entire holding: is. redueed to 254. In other words, if after he gets his naw stock, the market breaks.16 points or in the other case 22 points, the advant- age in price has been wiped aut and We know how: frequtiftly a inaricial ; disturbance ' in Europe-or elsewhere that has not the qnost remote con- nection with Canada or Canaitian af- like Canadian Pacific. These are; the considerations that Weigh withthe people upon :whom we rely for ourwast money require ments and any Company of the fithe nitude of the CanadianPacifie must if it is to expand and,progress have an army of. those whovare prepared to follow its fortunes:and invest in its. securities. If wevwere to. ap- proach them with th financial pro- positions outhined by our good friends, who mean well, but do not know, they would button up. their Pockets and tell) us to go hang for our money. With regard to the suggestion re- cently made that a reduction in rates might be made a condition of the Government's approval, Sir) Thomas said: The subject of rates: ig one that must be cotsidered by itself, and in Canada, we have a capable commis- sion clothed with plenary powers who are now conducting a compre- hensive enquiry. REVENUE GROWING August's Statement Shows a Gratifying Growth. (W. A. P, Dispateh) Ottawa, Ont, Sept. 9 The Domin- fon financial statement for August, cut today, shows continued evidences of gratifying growth in revenue. The total for the month was 14,645,849, an increase of three millions over the corresponding, period last year. 7 SCARCITY OF HOUSES FORCES PEOPLE TO BUY. List your houses with THE HOUSE MEN. We have enquiries daily. Medicine Hat Real Estate Exchange, Room 8, Imperial is -tender plant that must be hand- led with the greatest possible care if money required from time to time is not to cost too mnch to be Promptly obtained. The Directors of the Company arc the only persons who have the inti- mate knowledge required to deter mine what the this daty is assigned..to their fellow proprietorsfa. price should be and by Unless they be reeklesi Bank Building. bE j (C. A. P. Cable) lt; SEEET ECAC EES s London, Sept. 9: Following are ow To Rear rr. the quotations of the provincial and + Punic cs Manit Sterling debentures, Typhoid tever te a germ 1 oa a her cents BO'to te fe , Goes hind the axorete of et. ao vince: of Qnebes) atasling bonds, *F one Patient, unless disinfect f+ 1996s per cont., 100 to 102, tee Saige Mable to start an'epk- t1 provines of: Qusbite,, sterling bonds + demic. For disinfection F '1934 4 per cent. 99 to 101 x *f chloride of lime, limg. forma- + Dominion of Canada, fmecribed. +h Une or ordinary earth should +/ 1947 04 per cent. 76 to 77, ; Fe used generously. A case +) province of Quebec, ineerived, 1937, jek of typhoid is a menace to the -f/ 5 per cent., 62 to 84. F neighboriood, as the germs P Municipal, Edmonton, 1915-29-40, f may spread by direct contact, 42 per gente, 102 te 108, be by mies, ter, milk or Monicipal, Regina City, 1923-38, 5 . other food supply. Hel er cent. 104-107, + Municipal, Saskatoon City, 1938, SERRE RE hE 5 Her cont, 105 to 107. beat idgment B oking to the future welfare ot the Company and if there . be subsequent business stagnation, or New York, N. Y., Sept. 9. Accord- the directors Mayor Gaynor will be the first wit It, however, the Government were munic committee appointed to invest- to assume this duty of the directors lieate the alleegd police graft holds ium at which fe shares be offered with His Honor whether be is sworn to the proprietOms or the public, the or not. on the part of th Government that the market price ofthe shares would ; missioner Waldo, Indeed, Ido not see liow the Govern- ment could j a action with- out coupling a direct under taking to that ef adian Government would be in an Couneil was passed to issue its eral raids where there was no dis- shares at say 150 and if, in the order apparent om the outside. sourse of time, amd by a combina- Why did you do this? he was tion of circum: that nobody asked. could have fo1 controlled the) I had received a complaint from market value of securities was citizens. ? For instance, if a upholding Mayor Gaynor's policy. RAIN, RAIN, RAIN: fairs will cause a break of 16 ot even , was only 3.26. Since S iNEs and-it-coukd-not be- pleaded 23 -pointe ina-bichopr ead security. ing operations are pretty general to- Teap the best paying crop in the his- tory of the country. estimates issued this morning antici- pated 105,000,000 bushels of and it will nearly all be of grade. ditions te cut the grade this tar. ir GAYNOR TO TESTIFY (W. A. P. Diapaten.) ing to plans announced early today, tess this afternoon when the alder- first seaion. It will be optional statements reflecting on Police Com- intimated on the stand that official stenographic re- Port of his conversation with Waldo Wherein che allaged false statements were made, had been tampered with. I don't believe I said any such thingy he declared. I don t believe the record is'correct. 3 Hayes admitted he had made sev - A latter from Commissioner Waldo to Hayes, the-jatter said, embodied Mayor Gaynor's directions that po- licemen should discontinue the old method of getting evidence against disorderly houses from the inside of such houses, put a stop to the prac- tice. In the cases previously cited, Hayes declared he had disregarded Mayor Gaynor s order. The latter was placed in evidence. It embodies a declaration imputed to Mayor Gaynor that the passing of men in numbers to and fromyhouses harboring men should be taken evidence that the houses were . dis- orderly. This, Hayes said, hag help- ed-to support his contention that in refraining ftom raiding houses where there was no such evidence, he was GREETS THE DUKE Gov,.-Gen. Receives an All- round Wet Rec ption at Calgary. (2'We A. P. Dispatch) voCothfane, Alta., Sept. 9 In, a drenching rain the Governer-general s train entered Calgary on Thursday, and in a drenching rain It took its departure from Calgary last night. It was not, however, until within an hour of the royal party's goodbye to Calgary that the rain began. Their Royal Highnesses had an interesting day of it yesterday. The Duchess.and Princess Patricia remained in Cal- gary, while ine Duke went out on the royal train to Gleichen, fifty-five miles east of Calgary, and motored out from that point in a wide cireuit over the undulating plains -to view the irrigation works of the Southern Alberta Land Company. THE CROP REPORTS (W.-A. B. Dispatch.) Winnipeg, Man., Sept. 9. Heavy storms passed over central Manitoba. Saturday right and Sunday morning but for the most part the weather: was fair over the week end. Harvest- day. Temperatures remain high, though cooler weather is promised, excessive rain and absence of frost are the two striking characteristics of the harvesting season to date. Regina, Sask, Sept 9. Ideal wea- ther continues and harvesting is be- ing rushed with all possible speed. The wheat cutting is in the last stages and farmers are turning thelr attention to oats. There has been no storm at the week end and the farmers are confident that they will The government wheat, high There have been no ll con- BOND PRICES. He has not been subpeonaed GOES Country Trip tot position and responsibility of the but simply invited to testity. Be) Government w essentially. dite a comes Fine. ferent from of the Board of (W. A. P. Dispatch) (Wok. P. Land Sales Now on-His-West-/)urctors. The Oudbr in Council fix-) New York, Sept: Fopsgmelivs C-1 Cochrane, Atta. Sept. 9. Instead of generally ai Ap ani undertaking trial charged with making false 1S Under canvas at the camp pre: pared on Ghost River, seventeen miles to Banff this afternoon. Captain Bul- kelly, alde-de-camp, rode over in the rain yesterday to the camp and the Teports he brought back in regard to tne roads and the conditi n at the camp as the result of the heavy downpour which set n on Saturday evening, was such that it was judged best: to forego for the present, at least, the intended sojourn in the camp, Their Royal Highnesses, es- pecially Princess Patricia ,are great- ly disappointed. . The detachment of Canadian Premier Back Wo. Montreal, Que., Sept. 9. Few. more enthusiastic welcomes have been ac- Corded -to any Canadian premier than those which have marked the pro- gress of the Rt, Hon. Robert, Bor- den s since he landed at Quebec. on. Friday last. / There, irrespective political complexion, his welcome was hearty and sincere, and hisytri+ umph in the centre of Liberalism, has been repeated et Three Rivers; an Was one of the outstanding feat of the demonstration accorded in Montreal Sunday night. r ity has entered into all these triumy for Liberals and ratives all ad havetone tows Worst Continued Rain Made Roads Too Heavy Por sibly Return There Later When the Weather from here, the royal warty will go om Royal North-West Mounted Police party was. n hour anc sat Borden s Reception the Greatest Bo Liberal and Conservative Alike Join in Welcoming. TO Bi ay Dispateh) under command is remaining at Weather permits, return her from 0 Out to the camp days speckled trout saoenaea sbooting. Yeaterday. afternoow ceased ,the Duke and cla, accompanied by a camp, went out) Toads beavy, they try. Princess Patria, rode first time in a Mexican sadd as was Used by Stampede and showed herself am gc- complished horsewoman. The riding From England. Dippateh) 2 qualities he displayed lia mani owhich he rep ir the: receptions: Saince hls return, fas m chas been elininawd. Ottawa, Ont, Sept. 9. P pan expected to. arrive capital on. his return from. B todiiyand quite a number. of Went to the Central station to. Bani aa was: somewhat fatl- drove direct fo his: residence, he LABOR CONGRESS OF CANADA (Spetial to the News.) Guelph, Ont. Sept. 9 Representa- tives of the brain and brawn of or ganized labor in the Dominion filled the Armouries Building in. this: city this morning when President C. Wat- ters called to order the twenty-eighth annual meeting of the Trades and Labor Congress of Canada. The at- tendance at the opening was the lar- gest and probably the most represent- ative in the history: of the organiza- tion's annual meetings. Seated as guests of honor onthe speakers platform were J. Keir Hardie, the noted British labor leader and mem ber of parliament, and John T. Smith of Kahsas City, who was pre- sent as a fraternal delegate from the American Federation of Labor. The exchange of greetings, appointment of committees, and other routine business occupied the initial: session. The business of the. convention will Probably last an entire week. The eight-hour bill, immigration laws, the workingmen s compensation acts, the alien labor act and other legis- lative: measures, both federal and provincial, are to be exhaustively discussed by-the congress. SIOUX INDIANS OPEN FAIR. Dupree, 8. Di, Sept. 9 The- second annual fair of the Sioux Indians of the Cheyenne and Standing Rock reservations at Virginia Creek was opened here today in the presence of thousands of spectators from all parts of the State. The display of farm Products rulsed by the Indians Is very creditable and of considerable interest to the visiting farmers. The Programme for the week of the fair includes horse races, broncho bust- ing contests and other typically wes- tern sports, 8,000 will be distributed Tied Up : more Bae Oe Superior, Wis, tie-up of the street Duluth side of the ; fect early. this mopming due to a strike order issued dast night by the union street car men of that city. Between the hours. ot six and seven am. service was irregillar and greatly hampered the travelling pub He, (W. AP. Dispatshy Superior, Wis, Sept. 9. Great Northern ore dock workers. who went on sctrike here Saturday, nierning * demanding an increase of-25 cents a day in wages were still out this morn- ing. The Company notified the men they must report for work today or. strike-breakers would be. imported from Milwaukee and Minneapolis. An official of the company said this morning: We have agreed to an advan e of 20c per day for day and night shifts and if the men do not re- port for work today 400 men will be brought in from Milwaukee. (W. A. P. Dispateh.) * Superior, Wis. Sept, 9 The men On strike announced later that a vote Was taken and the offer of an. in crease of 20 cents per day had been refused and anes: would continue i strike jn premiums and prizes to the most successful exhibitors. Chili, If In Time of War Her Enemy Cut Off Her Sup- ply She Would Be At Their Mercy. ow, A. P. Dispatch) New ept. B There; would be no ammunition for Buidish guns Norway nittogen in time of war should (Great Brit a enemy cut off het supiBy fof England s Ammunition . Supply is Dependent on Says Norwegian nitrates from Chili, according to a declaration made today by Dr. Sam nel Hyde ot Christiana, Norway, be- fore the Eighth International Chemi- cal Congress at Columbia Dein sity. Dr. Dyde, who is regarded Burope ae an authority on seisoe * declared. that iy tbo gener ate 200,000 vas now be ing talkin, from the,

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Attribution Image 434 (1912-09-09), from microfilm reel 434, (CU1744025). Courtesy of Early Alberta Newspapers Collection, Libraries and Cultural Resources Digital Collections, University of Calgary.