oS ra a waa: i” a a? SO ei | ‘THE DAILY NEWS THE LEADING NEWSPAPER IN NORTHERN BRITISH COLUMBIA Published Daily and Weekly Guaranteed Largest Circutation a —— SE HEAD OFFICE Daily News Building, 3rd Ave, Prince TRANSIENT DISPLAY ADVERTISING rates on application, DAILY EDITION SSS ————— ANNUITY BONDS After eighteen careful study and investigation the city treasurer has placed before the council a scheme for the altering of the basis upon which the indebtedness of the city is carried. The report runs to thirty-two pages and is as concjse and clear as any such report could be. Each bylaw is analysed and a comparison made between the cost of carrying it under the old sink- ing fund and under the pro- posed bond or annuity instalment plan. It is a mat- ter of some difficulty to de- scribe the scheme comprehen- sively in a short article, but by taking one bylaw as an example it may be possible to give some idea as to how it works out. serial Taking bylaw 97, covering section one grading, the debt of which is $600,000, under the annuity instalment system the debt, principal and _ interest, would be wiped out in thirty years by annual payments of $39,030.86, $30,000 of which would cover the first year’s in- terest on a basis of 5 per cent. while $9,030.86 would go to re- duee the debt owing. At the end of the second year, pay- ment of the same sum allows $9,482.40 to go to reducing the debt, while it requires the bal- ance of $29,548.46 to cover the interest, and so on, the pay- ment each year allowing a larger proportion of the debt to be wiped out as the sum on which interest is to be paid is reduced, until at the end of the thirtieth year, the amount cleans up the debt of $600,000, while it requires only $1,858.61 to cover the in- terest on the balance which was left at the end of the small previous year. Under the old plan of piling without re- during the up a sinking fund, ducing the debt ae Thursday, Dec. 9, 1945. months of $37,172.25 of] Rupert, B.C. Telephone 98. 50 cents per inch. Oontract period of fifty years, the total interest at the rate of 5per cent would be $1,500,000, while, un- der the annuity instalment sys- tem of clearing off a proportion of the debt each year, and wip- ing out the debt entirely in thirty years, the total interest, would amount to $570,925.80. It will thus be clearly seen that from a dollars and cents point of view the new plan is immeasurably superior to the old. From a credit standpoint, the great benefit is that the municipality is keeping ifs in- debtedness at a_ reasonable level as the city develops. With serial bonds running from ten to thirty years, new ventures can be financed and the bonds dove-tailed in such a way as to keep the total debt around the same level, while, under the old system, the city’s indebtedness keeps on growing until it as- sumes alarming proportions in the eyes of a prospective bond purchaser, even though much of that indebtedness may be more apparent than real. Under the new system, a bond purchaser can tell at a glance exactly what the actual indebtedness of the city is, while he is assured of the re- fund of a certain proportion of his capital each year. Natural- ly, he has this sum for vestment, and he is much more likely to re-invest it in bonds of a calibre, rather than in the old type where, though he draws his interest re-in- similar where the fishing. from day to day for which it is wishing. Now fish- ing, ‘tis true is a noble art and if kept in its proper sphere mus!t certainly bringing prosperity near, citizens living not far so keen on fishing they other way of bringing the home. jobs without a hook or care not man _ too Tories filled with anxious doubt, fishing every hour for schemes to stop the rout. ing might and main for proof of end CAILY NEWS Thursday Decembe; a GILLETTS LYE ae PI RT " GILLETT COMPANY PG TORONTO ONT. as Calgary and Vancouver are so tied up with a load of in- under fund plan, that they to resort to the expensive and troublesome method of financ- ing on short term notes, while debtedness such progressive cities as New York and Boston have resorted to the serial system with the greatest success, such bonds meet a much more receptive market. ON FISHING a City not far away people are keen on It’s press gives details I know of concessions little part in but the away havi play no become that think there’s n¢ shekels seemingly The party heelers fish for line and if their action robs proud to whine. The fast to cling power, ye! are kept The Grits are fish- regularly, his capital is more or less tied up. It will thus be seen that the annuity system automatically releases capital probability will again be placed at the disposal of the city. Space forbids any enlargement on the but the full details will be gone into at a later date. Suffice it to say that, today, such cities which in all further question, | THE UNION STEAMSHIP CO., OF B.C, LIMITED 5. S. VENTURE November 2nd, 16th, Sails for, BELLA COO October 7th, 21st, 623 Second Avenue. Salle for GRANBY, NAAS, and PORT SIMPSON, Mondays at 11 a.m. Salis for VANCOUVER, SEATTLE and VICTORIA Tuesdays at 8 p. m. SAILS for STEWART, GRANBY, Saturday, A. M. October 2nd, 16th, Seth, November 13th, 27th, December 11th, 25th Salle for MASSETT, PORT CLEMENES, Sunday P. M., October 3rd, 17th, 31st, November 14th, 28th,December 12th, 26th. Sails a SKIDEGATE, JEDWAY’ IKEDA, Tuesday A. M., October 5th, 19th, 30th, December 14th, 28th. RIVERS INLET and the South Thursday P. M., jevember 4th, 18th, December 2nd, 16th, 28th. JOHN BARNSLEY, Agent. Phone 568. Carpenters’ Tools Wire Cable fron Pipe Rope Pumps FRED STORK’S HARDWARE Ea == 710 SECOND AVE Builders’ Hardware Ship Chandlery Steel Blocks Pipe Fittinge Valves Hose Stoves and Ranges Rubberoid Roofing Corrugated tron “WE SELL NOTHING BUT THE BEST” — Fishing Tackle Rifles and Shotguns Ammunition Paint FRED STORK’S HARDWARE 3 == = =x es —_ 31 Wists Older Than The Dominion of Canada S the name implies, The Bank of British North America was established long before the Provinces united and became the Dominion of Canada. The sound, progressive management which has made it a power in Canadian finance makes it the bank for your account. THE BANK OF British North America 78 YEARS IN BUSINESS. CAPITAL AND SURPLUS $7,884,000. PRINCE RUPERT BRANCH P. MARGETTS, Manager. Coughing scatters. corms —Stop it ° Coughing increases the irritation of the already in- conti mucnous membranes an moreover apt to disease to others, erent Mathieu’s Syrup of Tar and Cod Liver Oil promptly sto coughing, andsoon, lenates to its tonic properties, effects > a pag antong —- ; e wonderfn’ arit of Mathieu's § up of Tar and God Liver Oil is specially due‘ to its i Bi value as os 8 permanent bron- Sint pesier, ev here, large eryw: 35¢ larg people fish for names to sign to a petition against a movement that defames the sedition. trade-—‘tis rank to press their merits home. So that’s the way it goes my frien in the city not far away and whils the preachers cry “make amends’ the people say “Let us prey.’’-——J. | Don't Ferget— that when tee biliousness or indigestion is neglected, it may cause a serious illness. Act upon the first symptom—keep your digestive organs in good order by the timely use of BEECH AMS PIL! S tee teeree P on va APERHANGING KALSOMINING PAINTING F. G. ROBERTS 14 Dyer Apts. P. O. Box 642 PP OPPO DLL A LOL PLD PA ELLE EL LOLE POO LPOLD | FROZEN BAIT | AND ICE FINEST FROZEN HERRING $25.00 per ton. For Sale by KINCOLITH PACKIIG CO. LIMITED MILL BAY. B. C. For further particulars apply to THOR JOHNSON Central Hotel. Prince Rupert Feed Co. HAY, GRAIN, FEED, SEEDS AND FERTILIZERS WE HANDLE Bulbs, and Take Orders for Nursery Stock. Chicken Feed: a Specialty, Mall Orders Promptly Attended To. P. O. Box 333. 808 Third Ave. PRINCE RUPERT, B. C. ( POOL POLLO The aspirants to coun-} . . | cil seats a fishing soon will come} with arguments so trim and neat! yy 1945, ’ ie. W. COYNEY’S FISHING The December ber nunben rf Rod | 1 VCC vi ( SATURDAY MONDAY THURSDAY 10 30 | A and Gun contains, amongst many | Mi. other intéresting articles, one by | TO EDMONTON, SASKATOON. Weston Coyney entitled ‘Prince | #® REGINA, WINNIPEG, sr. PAUL Rupert has Cherens for the Izaak CHICAGO, EASTERN CANADA Walton eyerere ? is a story of} AND UNITED STATES a fishing trip to Fiddler Greek | undertaken by L. W. Patmore, of} this city. Along with the artic st | Change i In Steamer sailings are three photographs of Mr. WINTER SCHEDULE EFFECTIVE NOV. 2nd FROM Prince uo, z E RUPERT Patmore displaying a splendid ar- | For Vancouver, Victoria and Seattle. ray of speckled beauties, one of 8. &. Prince George overy Saturday at 9 a. m which tipped the scale at 35 sa S. S. Prince Rupert Tuesday at 9 a. m. The photos were taken by ead For Anyox, Thursday Midnight. McLeod, of Foley, Welch & Stew- : | UNEXCELLED EQUIPME . ‘at Q ) NT ORARACTER SERVICE Mr. Patmore describes the rain- | ‘i Revie et | nnumerable arvels’ the sinking|bow trout as being as gamey as} GO EAST via Combine ae i Marvels with By have hadIthe black bass. ‘‘Why, talk about aL beand & an Oho montreal sport,” he says, “when I hooked | including few York ane oo STATES that six-pounder he stood right} - up on his hind legs and walked | Full Particulars Cheerfully Furnishes across the stream.” ALBERT DAVIDSON, General Agent PHONE 2 guilt and graft and say -‘We'l aa finding that show up every stain and say weil a 2 _ pentane, them fore and aft.’ The ligqu FI 5 ‘DENTISTRY | CANADIAN PACIFIC RAIL P CROWN AND BRIDGE WORK WAY A SPECIALTY L t i Owest rates to aij Eastern Poin te DR. J. F. BROWN via Steamer to Vancouver ang the DENTIST CANADIAN PACIFIC RAILWAY Office: Smith Block, Third Avenue Meals and berth included on ste Phone 454 zig PRINCESS MAQUINA a ee chain ai SUNDAY, 6 P PRINCESS SOPHIA FoR $ ALASKA : MONDAY, Prince Rupert Dairy ‘eae Has cut the price of Milk icllcicnecadiicibcsieel in half s — Office corner Ynd Str J. 1. PETERS, Genera Agent Oorner Fourth Stree and Third Ave ea tra Aveny PURE FRESH MILK ‘PACIFIC CART AGE LITE > Delivered in city at 10c per (Successors to | , quart and Sc per pint @enera! Cartage , ere LADYSMITH COAL = Phone Green 252 93-—Phone—s3 .| Seu i : sais Alex M. Manson, B.A ore W. E. Williams, B.A, LLB WILLIAMS & MANSON Barristers, Solicitors, Ete, MONEY TO LOAN Sterling Marine Motors Can be purchased In town. A Motor that wili give you en- Box 158 tire satisfaction. Built for ew. Block e Rupert, B. ( hard work. Guaranteed. fo 4 —HEAVY DUTY— ade! JAMES GILMORE FISHERMAN’S ENGINE Architect 2 Cyl.—5 1-2 in. by 7 in., 12-16 Horse Power. 4 Cyl.—5 1-2 In. by 8 In., 25-36 Horse Power. 2nd Avénue, near MecBrid Do your remodeling with a first- class engine. B. C. UNDERTAKERS : 3 For nanape Information EE ns am 5 BALMERS — SATISFACTION GUAR- 3 W. E. Williscroft, Phone $|M careers cee Mant $ Blue 508, or D. Brown, Elec- 3 447 2ND STREET—PHONE 41 ; trician, Phone 383. $ ” qe sts —- <3 os = 2S 23 =~ Hes Pe Here’s where we test the choicest samples of Canada’s six million acre wheat crop. We grind them into flour in the little mill you see on the left of the picture. Then comes the supreme test--bread-baking. If the bread is perfect in every way we pronounce the wheat Al and the flour-ROYAL STANDARD. AT YOUR GROCER'S ancouver Milling 8 Grain CoLte. ROVAL STANDARD ancouver. New Westmins(®r, Nanaimo, Victoria. = = ee WHOLESALE DISTRIBUTOR EMPRESS F. G. DAWSON COFFEE: PRINCE RUPERT, 2. ©