928

Date 1912-06-03

From 928

MEDICINE HAT DAILY NEWS. Monday, June 3rd,. 1912, Te Glasgow House Dainty Neckwear We have just received another lot of the very newest things in Collars, Jabots, Coat Tennis Collars, Maline Bows, Lace Bows, String Ties, Windsor Ties. New Blouses See the New Terry Blouse New Pique Shirt Waist New Peplum Blouse Many other lines you will be interested in. e House of Fashionable . ressers i Soeteele ee ansese Predendestreheatocteatocteatenteegeade. ahesieeteareteetenteetet THE ss OF CANADA. ROYAL BANK : Soaeedete the ne * ee 2 CAPITAL AND RESERVES...... 16,000,006 Many a man owes bis success to the fact that he had the right se bank behind him. : eS nm This Bank offers its clients the-services of a fully equipped fy Banking organization. See MEDICINE HAT BRANCH Fourth Avenue : : C. H. McDunnough, Manager Sa chrstn date te eter Lose ter reate-ctrateatesteatosteaseeteseaseeg no Se Lostostctetetestens Soak toate cfoate-risate-efe-ete-aseece fe S artes Imperial Bank of Ganada Capitai and Rest 11,993,800 Total Ass ts ....... . 72,000,006 A GENERAL BANKING BUSINESS TRANSACTED. SAVINGS BANK DEPARTMENT AT ALL BRANCHES. B. G. WILKINSON, Manager. : Medicine Hat Branch. 2 Sek Soe co Ms . 0-4 o soeteet cS oat Seat 045 8 Xs 5 iestoat e oS 2 a GANADA Established 1864 Capital and Beserve Funds .. .. .. .- .. -- + 11,458,878 We give special attention to SAVINGS ACCOUNTS. No delay in withdrawals, Two or more persons may open a joint account and either pary ean withdraw money. Our deposits-bave increased from 19,426,091 In 1901 to 63,494,580, y. 0. JOX, Manager : : + : + Medicine Hat Branch cestectacteateatestectosteatestecte sLoerratestetestestpatesgesteeteay soadestesteateatectoteateatestecteete afeareetoefoatoatesteefeeteeteasesseete os RRR EERE EERE EEE EEE a 4 THE MERCHANTS BANK + 0000000808808 0OOSOUCOOSOSOS CDOS 000090009080 SATISFIED CUSTOMERS lt; Are the Best Assets that any Company Can Have. Prairie Pride Patent Flour Always Pleases Because Its the Best That Can : Be Had. The Medicine Hat Milling Co y., Limited MADE-IN-CANADA 5 og cue Train Exhibition twelve electric-lighted cars over one hundred inter- sting exhibits of Canada s wonderfw industrial development AT C. P. BR. DEPOT, MEDICINE HAT, Thursday, June 6th, from 2.50 p.m. to 5 a.m. Don't miss this unique Travelling Exhibition. It will be a revel- ation toyou. Free illustrated lectures during visit. FREE ADMISSION TO BEVERY CAR 202 2 P. 0. Box 1010. Phone 759. THE WESTERN PLUMBING CO., LIMITED HEATING, VENTILATING AND SANITARY ENGINEERS CONTRACTORS Wor Steam, Hot Water, Vapor, Vacuum and Fan Systems of Heating and Ventilating, and Sanitary Plumbing. Plans, Specifications and Estimates furnished Architects, Contractors and Builders on application. 602 MAIN ST. MEDICINE HAT Phone 666 Day. 211 Night. Drivers. , Taxi Taxi Taxi . ALBERTA TAX COMPANY All Trains Met. New Cars. Careful and Intelligent News Dept z with every peric 3 Medicine Hat Dews yr ie ccScay in this regard it will Published by the Medicine Hat News Coy Ltd, every be clifficult to avert monopolistic control. lawful evening at Its ofiice, Main Streeu. Medicine Hat, Alta, A, J. N, PERRILL, E ttor. PLONE: HONE: orlal, Advertising Reportoriul, and Cireulation and lt;p Job Depts. 13 RING RING 7Q DAILY SUBSCRIPTION RATES 1 y.as, delivered.... 4.90 1 year by mall. months, d-livered. 300 6 mouths, by malt 3 months, delivered.. 1.00 3 months, by mall. 1 month, delivered....35 Addresses chauged as ottsn a9 desired, but bots niw and old ad resser Rt be given. WREKLY NEWS. - 3.00 1.50) +760 wa of the week local and district. 6 months, in advance 76, 3 months, in advance..500 1 year in advance.... 1.50 Monday, Jun 191 LAUD CANADIAN BANKERS ANADIAN banks and Canadian bank- came in for honors without either premeditation or solicitation when the Canadian Club on New York City con- ened for their losing at the Wal- dorf-Astoria on y evening, May 14th. The speakers, all but one of whom had been invi rent topics, invol- untarily drifted to a discussion of the super- ior methods of the Canadian bankink sys- tem, expressing the hope that in due tim: Uncle Sam would profit by the example of ighbor to the north. Mr. Edmund D. Fisher. ptroller of New York City, himself a bank- r and formerly seeretary of the Flatbush Trust Company, : *We who are inter- ested in the problem of reforming the cur- rene) stem of the ited States, view with envy the remarkable practicability of your Canadian banking system. Of co it may not be possible for us to adopt your system in every detail; but I believe that when the currency system, for which w ye worked and hoped and waited th se many years, is finally produced, it will con- tain many of the sdlient features of your Meanwhile says Mr. Fisher: Please consider that you Canadians have rueting us still fur- the matter of financial precedence. ppreciate the assistance you give us i working-ont-our-great problem. Fred Farnsworth, president vf thi -higan Society, is the general secretar merican Banke ociation. Th attention to the fact that this grea ation of United States banker annual conyentions, never. con: program complete unl it inchde: one or more of Canada s leading bankers. He stated also that many of the most sic- jeessful American bankers of today were either born or reared in Canada. James b. Forgan, of Chicago, president of the Tirst) National Bank of tliat city, was a notable example. Seeretary Farnsworth paid a high tribute to the genius of Canada s fin- ancial leadership, due.to which the country has had such a remarkable development. W, P. Hamilton, the editor of the W. Street Journal, drew the following distir ion: American banking is financial hank- ing; Canadian banking is commercial bank- ing. The difference being that the bank- ers of Canada make it their business to di- vert their depo: through the commend- able channels of commerce and industry, thereby developing the natural resour and materially aiding in the growth and e: pansion of the country s wealth and influ- ence. In the United States we see the tend- eney: to employ surplus funds in stock ex- change speculations, where ,though the margin of profit is greater, the proportion of risk is also infinitely greater, and the element of gambling enters into the tran- sactions. Tt is gratifying to have such words of commendation from men who stand so highiy in American financial circles. ec ovis ee ees WESTERN WATERWAYS. Ww*t ERWAYS are the pioneer routes of civilization, and if the railed High- ways of the nations had not be- come toll-collecting enterprises the wat- erways would continue to play an important part in solving transportation problems. Railway interests now find it so easy to direct legislative folly that water transportation terminals are hampered and waterways are monopolistic. A recent an- nouncement that there would be no modi- fication in lake freight shows the extent to which the policy regarding docks and ter- minals has made the water highways mon- opolies. Under a proper policy it would be no more possible for vesselmen to de- cide on freight rates than it is for farmers to decide onthe price of grain. Were ter- minals managed as they should be there would be plenty of boats in from the Atlan- tic to maintain rates at competitive levels. The matter is of special importance in the West, where Government engineers are in- vestigating the possibilities of water trans- portation. If any important use is to be made of the magnificent waterways tray- the Deputy Com- COUSe ofher f of craft. by whieh the r to navigable highways, but economie blun- dering can render the best engineering suc- Coss Te * s to be overcome. The var water is considerable. The quantity ind sand annually scoured down is xtremely large and the channels, in con - squenee, are shifting and uncertain. ld be possible to overcome the engin- difficulties over many long navig: ble stretches, and also to avert the econo- ti board. rh public hou in ec mic dangers. On inland waters there is not the open op- portunity for competitive earricrs as on the lakes and 1 The economic difficulties will in uence be more serious. only means available for giving the the benefit of the available highways will be to provide terminal and lities in abundance for all kinds Engineers may devis Alexander Mackenzie, a statesman in ad- yance of his time, advocated the utilizing of the water of 1 te of the rr: able to all.owners of rolling stock, but the control of terminals enabled the road own- ers to erowd out competition. Similar cor trol of terminals-has enabled vessel-owners to make water highwa olistie as railed highwa Dominion can be w: and.can thus be careful to secure all economic benefits of the engineering possi- hilities in water transportation, Toronto Dusiness as) it: Tsdksed canis etioe in Globe. a The Keeley Mines had. been anoth- Eee hag THIS DATE IN HISTORY. 1769 Tr tory 1770 M. at Ch cuba Nie tario, George his father. ersing the great West the first essential is free and abundant terminal facilities, Even ttlement along the Saskatchewan and Jother valleys. Had the Dominion been lin that regard, development would not have waited a generation and the threatened yurden of alienated land and monopolisti ation now time to make amends, as far as possible, for the early mi lt;e advantage of the possibilities of water transportation in relieving congestion and) regulating charges. The mistake of older Canada in allowing the control of terminals to promote mon- oply must be avoided. The original di nsit of Venus succe: served by the Americ al Society n the State hous od lphia. Confederate Stat Orleans, Dec, 6, 1889. 1819 Thomas Ball, noted. Charlestown, Mass. elair, N. J., Dec. 11, 1911. 1838 Cherokee Indians, 1500 in number, escorted out of Georgia to Ross Lan- ding, Tenn., by Georgia militia, 1862 Gen. Robert mand of the Confederate forces in Virginia. 1898 Lieutenant Hobson sank the Merri- mae in the harbor of Santiago de 1911 U. S. gunboat Yorkton:proceeded to icaraguan waters to safeguard Am- erican. interests. 1866 Fenians defeated at Ridgeway, On- 1880 Garfield and Arthur nominated the Republican national convention in Chicago. ase Ae SERS Seer Se THIS IS MY 47th BIRTHDAY vy ee (eee CONGRATULATIONS TO . by the grace of God of the United Kingdom of Great Britain and Ire- land-and of the British Dominions Beyond the Seas, King, Defender of the Faith, Em- porer of India, was bern at Marlborough House, June 3, 1865, the second son of the late King Edward VII. Majesty was known as Prince George of Wales. He entered the navy as a cadet in 1877 and during the years that he followed a naval eareer he visited nearly all parts of the world. In 1891 the death of his elder brother, the Duke of Clarence, made Prince George heir presumptive to Shortly after the accession of his father, King Edward VIL, Prince George, known as the Duke of Cornwall and Yorke, made a tour of the world. In 1893 His Maj- esty was married Mary of Teck. The royal couple had six children, five sons and a daughter. eldest son, Prince Edward of Wales, will be 18: years old this month. ed for a naval career after the example of 's opening to the Atlantic water schemes ers may be transformed in- ation in the But t tretches and the development ie tes might have been avert- ake, and to was a railed highway ys almost The monop- Western med b: the t sfully an Philosophic- a temporary observa- yard at Phil- Cal., founded. on Davis, president of the s of America, born in ian County, Ky. Died in New E. Lee assumed com- June 2. by King George V. E In his youth his the, throne. then to Princess Victoria The He is being train- Barely Enough Left to Re- Sir William Meredith Sug- Bank was too Ambitious Travers, the General Mana. ers Bank failed was explained yes- liquidator, at the investigation be- dith in behalf of the Dominion vernment. had been handicapped from the first hy starting with bare capital. bigger banks, it could not expect to do a very: small sum of was able, opening some thirty bran- hope of getti had not been realized, enough deposits had been received to pay expenses at any of them. Money had been advanced to persons connected with the bank on which these persons were to get a profit, if profits resulted. which and bad debts contracted. bank had been content to work way up modestly, the liquidator could 30 on the 500,000 capital. The list of stockholders was well distrittuted, this mistake but did not seem to inspire confid- ence it should have done. Moreover, got in for 50,000 and saw he could not get out, he June 3. more in the hope of redeeming the ob- situation. The sum of 442,000 had been lost in the Keeley Mines. much money had been. tied. up jno money to go after a loan business jfor existence. on and presido of San Carlos Monterey 1808 Jeffe: 800,000 leould result in the colltaf ion of more deem the currency, lof double liability were right, culptor, born in was about all he could kecure. If the Died in Mont- Keeley jmore might be realized. NOT A PERNY FOR FARMERS BANK DEPOSITORS deem the Currency, Says the Liquidator. gests the Working of the Keeley Mine. TO GTO Rapid Rate ger, Tells of Getting In- to the Mire. Toronto, June 2. Why the Farm- erday by Mr. T. G. Clarkson, the ing conducted by Sir William More- Go- said that the bank He On account of the opposition of the large business on the 500,000. Tt had arted.in to be a big bank before it hes ae the country in the if business. These hopes and not There had been mismanagement. Loans were made should not have been made It the its he public would not give the bank er cause of the failure. When Travers put in more and So in this company that the bank had had Mr. Clark said that out of outstanding debts of the bank, nothing short of a miracle than 182,000, barely enough ta re- If his estimates this mines turned out valuable, Sir William Meredith suggested count of the congested state of the courts there. In going over various items of the bank's loss, Mr. Clark- son stated that George Wishart owed the bank 53,000. The actual -loss on the mere opera- tion of the institution had been 246,602, the amount of cash expen- ded over the earnings of the bank. Mr. Clarkson divulged the fact that he had instrpeted his solicitor to go ahead and sue the Trust Guaran- tee Company for interest on the de- posits of Farmers Bank currency which sometimes amounted to over 300,000. The bank paid interest on the company s deposits, but the company paid no interest on the bank's deposit. Travers also gave reasons for the bank's failure. He still thought that there was room for another bank and that the reason this one failed was because so much money became tied up in bad loans. When he found so much money gone, he went fur- ther and further into the aire in the hope of getting back what He had previouslo invested. Travers stated that he bad ad- vanced sums of money to the Tor- onto World from time to time, the total of the Joans amounting to about 16,000... This debt -.was out- standing at the time tha bank-failed. Be had made the advances only after much urging to hel the World out of grave financial difficulties and partly out of friendship for Mr. W. H. Greenwood, the managing editor. Mr. Greenwood had helped to secure the frst provineial deposit of 10,000 for the bank while Dr. Nesbitt had arranged the second deposit of 25,- 000. None of the World loans had FINLAY CO P. 0. BOX 29. We have the agency for the celebrated Morgan Doors, THE DOOR BEAUTIFUL CEMENT, WOOD FIBRE, LATH SPLIT CEDAR POSTS, WIL - DON T PAY MORE SPREE EERE EEE CROSSLEY BROS. Builders and Contractors. 708 4th Ave., Phone 434 OFFICE PHONE NO. 868, THE J. S. FOLLIS Heavy Teaming. Sand, Coal Gravel Light and Heavy Horses for sale at All Times. ieee F. S. LYON Yulll Street. When QUALITY first, Don t be per- suaded to buy CHEAP LUM- BER because t's cheap use the yery best. Woe have it, and ev, erything the Builder requires. A select stock of LUMBER, DOORS, SASH, FIR FINISH, BEECH, OAK, MAPLE, BIRCH ingle s Drag. and Book Store : 3: GRADING AND EXCAVATING uali you build, consider Low POSTS BEAVER BOARD Ww THE LUMBER PEOPLE PHONE 57 pieeininieieleleinfeleiotet FORMALIN FOR SMUT 50c....Quart 25c....Pint E a Cones Le P eaeL iw at pare eee that the shareholders and. depositors crpinize company to operate the ; HIOTSON mine as-MicTravera soomed to think LEADER it was valuable and would yield somebody a fortune. The liquidator CONTR one AND: declined to advise in the matter... ) 4 BUILDERS Mr. Clarksoa said that suits inthe Ler US FIGURE WITH YOU United States courts to recover some) BEFORE PLACING YOUR of the indebtedness were not to be . CONTRACT Bor NG tried for a year and a half on ac- STIMATES FREE. Office Next to City Hall. eRe Pieincieiiicbricte P. 0. Box 304. Estimates Free. Plans Prepared. STABLE PHONE 402 728 Contracting Co 108 TORONTO Br. Excavating a Specialty. CONTRACTS FOR HEAVY TEAMING Gravel and Sand for Sale, Phone No. 415, 0. Box 81. Monday, Hous Garde Now Rea Pansies hardy enc ing in ga Vegeta be:ready Es Private Re: Cabbage, Tomatoes, Stocks,jete. AML kind garden, THOS Paul M. Potter, the English a Bat been paid before the bank's failure. YW... Simmonds CHARTERED ah - otter, ie Eng 1s ramatis' CONTRACTOR 59 years old today. ) PUES CURED IN 6 014 DAYS SARTENTES ie Rev. Dr. Cortland Myers, pastor of Tre- PAz0 01 fail to cure. any Repeles peomeryty etteered om mont Temple, Boston, 48 years old today. S88, ue pile nee dn enrateea. Phone No. 335. Winntnes, 1 A. B, i a Phone No. 1

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Attribution Image 928 (1912-06-03), from microfilm reel 928, (CU1743494). Courtesy of Early Alberta Newspapers Collection, Libraries and Cultural Resources Digital Collections, University of Calgary.