y
U
M
9
y
if
!?
IT
IF
9
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oaily
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PERS
The
Jdeal
Gift
-
-
I.
You
could
not
fail
ta
be
jm-pressedLyitK
our
wondorful
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slippers
For
Him
or
Her
Buy
early
while
sizes
are
complete
AMILY
SHOE
STORE
LT
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of
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Shoes
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DAILY
NEWS.
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RUPERT
-
BRITISH
COLUMBIA
in
ft
ii.l
Published
Every
Afternoon.
Except
Sunday,
by
Prince
Rupert
Daily
News.
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Avenue
H
P
PULLEN
Managing-Editor
Hi
Member
of
Audit
bureau
or
Circulations
MEMBER
OF
THE
fTAXAMAN
PKtSS
Tie
Otr;i1'.in
Press
is
exenulTelj
esuUaJ
tu
use
lor
republication
at
ill
sen
deesatcSwea
crrd.ted
o
it
or
to
the
AreocUUri
Prtas
in
UU
PtT
ai
tlao
Ux
loc&i
am
TKihlfohM
therein.
AS
Vjjx
ol
repuhi
iof
inn
of
apecUJ
daxalches
tbrrem
ir
also
reserred
Monday,
December
9,
1940.
While
Great
Britain
would
scorn
the
idea
of
making
party
to
peace
between
Ilalv
and
Greece
on
certain
terms.
Just
what
those
terms
would
be
nobody
can
say.
What
is
apparent
is.
that
Italy
is
beaten
so
far
in
Albania
and
seems
;
jiiimammO'mu'Wt
TOTTiXrLYNtws'
Monday,
Djy,
9
,
Bank
Heads
Confident
of
Victory,
See
New
Problems
and
New
Opportunities
Facing
Canadians
IS
j
Huntley
R.
Drummond,
President,
Commends
Govcrnranet
Action
on
Rowell-Sirois
Report
Holds
Wheat
Crop
Is
Asset
of
Great
Potential
Value
Deprecates
Spend
inff
on
Peace-Time
Projects
W,
Spinney,
General
Manager,
Says
Bank
Determined
to
Play
Full
Part
in
Achievement
of
-Victory
Presents
Financial
Statement
Reflecting
Increasing
Part
Bank
Taking
in
Financing
War
Projects
Loans
Average
$3S,QO0,000
Higher
Profits
Slightly
Down
QuLmina.ttng
a,
comprehensive
review
of
Ihe
Canadian
business
scene
with
an
enjoin
der
to
his
countrymen
to
"do
everything
that
in
us
lies
to
keep
our
house
in
order."
HunUj
R.
Drurnrnpnd,
in
his
presidential
address
to.
Bank
of.
Montreal
shareholders
at
their
annual
meeting
yesterday,
declared:
"When
victory
comes,
enormous
new
tasks,
new
problems
and,
greatest
of
all.
new
opportunities
will
confront
us."
The
Dresident
said
that
while
Canada
was
at
present
on
the
crest
of
a
wave
from
a
business
viewpoint,
with
employment
higher
than
in
any
previous
period
and
tadus-
?
trial
output
on
a
swiftly
rising
there
will
be
an
aftermath.
Ue
de-'hu'.d,
therefore.
Uwt
"It
behooves
us
mU,
while
con-'
j-n
lo
the
utmost
in
the
prosecution
of
the
jar,
to
keep
in
wio
the
adjust-
xi-i.ti
whkh
wui
later
become
r-cessary."
Zc
inorny
in
pri7a"
and
pan
lie
c-.jiiUiture
he
sau.
"snouid
be
practised
to
the
utmost
and
projects
not
relating
U
the
war
effort
sho-Jd
be
postponed
j
a
time
when
they
will
not
iate:.'.re
with
that
e.iort
and
wnn
thp
employment
ta
y
afford
ul
be
needed.
We
rust
not
throw
prudence
to
the
winds,
bu;
must
do
everything
that
in
ui
lies
to
keep
our
house
in
order.
We
need
prudence
in
governmental
lr-TiQuai
ir-;
'vidua!
corcmitaenis.
commimenLS.
Drummond,
Drummond.
in
in,
his
hu
opening
opening.
Agriculturally,
Canada
had
done
well
during
1940
which,
the
president
said,
had
been
a
jesr
of
good
crops.
"Sales
of
livestock
and
peace
with
Germany,
it
is
possible
she
might
become
adair'
products,-
he
observed,
"have
oeen
sausiactory
and
the
aggregate
of
revenue
to
the
farmer
will
be
large.
What,
in
the
final
account
ing,
may
prove,
piuict
perhaps,
permps,
the
trip.
largest
rargPSI
111
iiKeJy
to
.
,
be
driven
j
-"
out
-
-
of
tbat
country
altogether
-
so
no
1
'crop
of
wheat
in
the
history
of
the
petite
icims,
cuuiu
iiiouue
me
retention
OI
loania
oy.ominion
nas
been
safely
garnered.
Italy.
I
It
is
one
of
the
very
best
we
have
ever
had
in
weight
and
quality.
At
Plight
Of
Germany
-
-
Could
it
be
that
one
of
the
reasons
why
Molotoff
went
to
Berlin
recently
was
to
hear
proposals
from
Hitler
for
the
establishment
in
Russia
of
industries
that
will
help
to
replace
those
within,
the
Reich
which
have
been
laid
waste
by
the
persistent
bombing
raids
of
the
Roval
Air
Force,
inquires
the
Victoria
Times,
We
are
told
that
the
muni
the
moment
we
are.
perhaps,
think
ing
too
much
o
the
embarrassment
of
handling
it,
but
I
should
like
to
point
out
that
our
great
store
of
wheat
is
wealth
In
its
best
and
most
tangible
form,
and
in
present
circumsUnces
an
asset
the
potential
value
of
which
cannot
be
Mr.
Winston
Churchill,
has
said
tions
plants
in
the
Ruhr
and
the
shipbuilding
yards
on
the
tbat
one
of
the
first
tasks
to
which
name
nay?
sutterea
so
severely
"
tnat
they
soon
will
be;ureal
-tain,
wui
address
itself,
practically
Useless.
ihen
etoryU
achieved,
win,
be
the
It
'tat
by
th
:
constructor
.of
factories
S?S
IrfXL"
me
kuicw
v
.kii.i
--y
'f
u
liuisia
wuuitt;
promise
known
to
the
peoples
of
Kui
jue
ureanun
ot
uiuueru
muiiuions
lactones
and
snip-
Europe
and
Its
importance,
win
be
building
yards
within
her
borders,
get
the
opportunity
progressively
realized
by
them,
to
train
machine
workers
under
skilled
German
man.ifrp-i&o
that
promise
is
the
tremen-
ment,
and
a.
chance
to
supplement
domestic
war
produc-ijjj"0
?hea
Thich
Canada'
non
Decause
uermany
wouia
unquestionaoiy
be
toi-cedi
Exports
up
30-
to
sell
at
least
a
part
of
the
new
output
to
Moscow
as:
m
the
matter
of
trade
abroad.
"rentM
for
sites.
'
Mr.
Drummond
said
that
Canada's
It
will
be
recalled
that
under
the
first
Russo-Germani113-5
fr
the
twelve
months
toi
economic
agreement
due
to
5talm
&
suspicions
about'
fP111
1451
totalled
$1,150,000.-Na4
aims
and
to
HUr's
relictance
to
give
up
any
skilled
mo?
.ta
u?e
workers
the,
face
of
the
pending
Avar-almost
no
Ger-
SeTSrtt$r-man
technicians
weie
alJoweu
m
the
boviet
Union,
milch
005.000.000:
Canada-
as
they
were
needed
in
some
industries.
Jf
current
ru-
tion.
amounting
to
"approximately
-
a
11
l
il
i.
i
t
II
t
r?
ttnn
nan
ava
j.
i
.
.
.
"
.
'
iiiura
are
tvuet
iny
iiuuuf
-H
vie
rvremim
nas
conn-
-wv,ww'vw
UUI
ne
pa-sv
itjve
dence
now
that
it
can
deal
with
any
situation
which
may.onths'
wa?
n?-
deluded,
in
these
arise,
and
that
any
dangers
which
might
develop
Sl1
having
Germans
within
the
country
are
more
than
offseti
co-emmem
Finance.
by
the
industrial
benefits.
I
in
referring
to
the
finances
of
the
country.
Mr.
Drummond
urged
ec
onomy
in
all
"peace-time
expen
ditures"
so
that
Canada's
war
tasks
might
be
the
better
prosecuted
anc
added:
"I
am
glad
to
note
thai
the
Federal
government
has
called
a
Dominion-Provincial
conference
for
the
purpose
of
considering
the
adoption,
without
undue
delay,
of
the
main
principles
and
recommendations
made
in
the
Ro
well-Sire
is
Report'
The
speaker
referred
in
glowing
terms
to
the
"marvellous
manner'
in
which
the
British
people
had
adapted
themselves
to
the
condi
tions
of
wax,
and-cemmented
par
ticularly
on
their
ability
to
maintain
exports
at
such
a
high
figure.
Apropos
of
this,
he
said:
"I
woult
hke.
to
add
my
voice
to
that
of
business
leaders
all
over
the
Domin
ion
in
urging
our
people
to
give
at
this
time
preference
to.
British
goods
in
their
purchases
of
import-
D
J.
1
C(
J
erj
enditure,
prudcuee
in
business
I
ed
products;
for
every
dollar's
DaUOyilO
i
llCU
-
-
'artanlstratlon
and
piiid?ncs
in
our
worth
so
purchased
helps
Britain
r
v
l
i
j
!
v.
l.
j
.
i
j
ui
tier
wax
euort
axia
ueips
uauaaa.
.uauNW!
.iuujjuu
iicuj
ueen
reurvu
lrom
uie
ieauur-i
Bank's
Statement
too.
in
the
matter
of
exchange.
Ship
of
the
Italian
army
according
to
Some
Stories.
be-
yj.
United
SUtes
Co-operation
cause
he
reported
that
the
invasion
Of
Greece
had
been
"remarks,
commented,
briefly
on
the.
Hailing
the
mutual
defence
asree-Unwise
and
Ulliustified
and
that
the
Italian
armv
was
'-ank's
financial
siatemen:
whichlment
with
the
United
SUtes
as
the
noorlv
Iwl
anrl
nnt
wll
nrmnvtrt
Wliatpvpr
the
rwwn.W
shareholders.
"It
'most
important
event
for
Canada,
thp
fnrmpr
Mrf
nf
thp
Ttolion
P.onol
Qtoff
V,c
Vs
satisfacuon,"
he
said;
"Ire-loutside
the
war.
since
Confedera
placed
by
a
less
experienced
man.
It
is
said
that
the
attack
on
Greece
was
carried
out
contrary
to
the
advice
of
the
general
staff.
Mussolini
copied
Hitler
in
refusing
to
take
advice
from
the
men
who
IctlPW
Hitlor"
Vina
Kopn
ciiswroccfiil
nn
tn
o
rn
itn
nninf
Vint
pr-vjr.g,
your
bank
ccn.inuis
in
is
ter
the
war
when
Canada,
more
customary
strong
position.
Our
.'than
ever,
would
be
a
vital
link
in
toUi
assets,
while
showing
a
his
successea
may
be
about
ended.
He
has
failed
in
his-bJoiaJ00
mam
uujrctue,
wnicn
was
ine
suDjugauon
oi
uriiain.
Round
About
Way
-
-
-
frhat
TTOC
O
tmirr1o
Vu-iif
trot
rT
rrnf
f
i
r
rr
nnef
f
T
Tr,?f
r.
that,
notwitlu
i-din
the
un-.tion,
Mr.
Drummond
said
its
great-
usua:
times
through
which
we
are
I
est
repercussions
would
occur
af
de-
rt-tc
from
last
yex
continue
at
Qroto
lo,x-
n,u
tktt
itv':
j:jiUon-
tte
President
observed
that,
general
manager.
Jackson
Dodds,
"
6"'"
,
"
ucviucujhfle
a
vear
ag0
busine
was
just
declared
that
as
the
bank
to
make
a
loan
Of
one
hundred
million
dollars
i,
to
Argen-
beginning
to
feel
the
impact
of
war
entered
upon
Its
124th
year
of
op-tina
on
the
understanding
that
Argentina
would
extend
j
conditions,
today
the
usual
econ-Jeration,
"we
are
determined
to
an
even
larger
credit
to
Great
Britain.
It
helped
Argen-0jnic
Indices
-
longer
gave
the
play
our
full
part
in
this
national
Una
disease
of
her
eron
and
it
insured
a
food
stinnlv
to-Pictare
of
eb!
of
effort
and
we
look
forward
with
'
"
r
3r
w
v-
v.
.
l
-
-.
l
-a
a
.
-m
.
-
.
j
the
relations
between
Great
Bri
tain
and
the
United
SUtes.
General
Managers'
Address
Presenting
a
financial
statement
in
a
strong
position,
as
always,
to
that
reflected
the
increasingly
ta
rn
ret
any
conungcrcv
War
Factor
Dominates
Business
Indices
portant
part
which
this
institution
is
playing
in
the
financing
of
Can
ada's
war
effort,
G.
W.
Spinney.
In
reviewing
the
business
situa-
on
behalf
of
himself
and
his
fellow
usiness
because
of
the
over-riding
confidence
to
the
achievement
of
TlZTxrr
F
Jo
1
mnaeac
of
mobihzauon
and
victory,
which
is
now
th
T
f
U
r
primary
of
Argentina
finding
its
way
to
Germany.
Further
than
the
Mf?
ntiimt
f
and
an-im,r,t
Z;.,
J
inai
u
neipea
oma
Argentina
closer
to
the
American
bloc
asset
the
country
Dossessed
for
the
The
sutement
ww-h
Mr
KnfnT,,
On
the
whole
it
was
an
excellent
raove.
mos
intensive
prosecuUon
of
the
presented,
showed
great
strength
Anxious
For
Peace
-
war.
and
liquidity.
Assets
amounted
to
1
rl
f
I
-'1
t"
.1
$&61300,000,
compared
wtth'
51.-825,000,000
a
year
ago.
"The
decrease."
he
said,
"Is
represented
in
the
T"i"
by
a
reduction
in
our
investment
portfollio.
as
a
result
principally
of
redemptions
at
maturity
of
Dominion
and
Provincial
Government
securities."
Quick
assets
totalled
$663500,000.
or
75
per
cent
of
all
liabilities
to
the
public
Net
profits
of
$3,436,000
were
down
by
$27,000
when
compared
with
the
previous
year.
"This
result."
said
the
general
mauagsr
is
not
unsatisfactory
in
view
of
.he
fact
that
taxes
paid
to
the
Dominion
and
Provincial
Civern-nents
during
the
year
were
$729.-XX)
higher
at
$1,923,000.
accounted
or
principally
by
the
higher
rate
of
Dominion
taxation.
The
increased
revenue
to
offset
these
addit
onai
charges
and
other
heavier
opciaUig
Tests
was
obtained,
chiefly
Iro-c
xamercial
loans
which
for
:h-vear
averaged
about
22
per
cent
higher."
Commercial
Loans
AveraEe
$38,009,000
Hither
Investments
at
$462,000,000
show
ed
a
reduction
of
$55,000,000
while
oans
and
discounts
in
Canada
in
creased
during
the
year
$16,200,000
to
$217,60000.
Commenting
or.
tlv
ncrease
in
loans,
Mr.
Spinney
said
This
increase
as
at
October
Sis:
doe
not
properly
Indicate
ih"
maintained
improvement
in
Uiis
de-
oartment.
During
the
past
twelve
months
the
monthly
average
of
our
ttmmercial
loans
has
been
$33,000
-
XX)
higher
than
in
the
corresponding
period
of
the
previous
financial
year.
This
expansion
In
our
loaning
lgures
comes
chiefly
under
the
leadings
of
loans
to
manufacturers,
-e
fleeting
the
higher
levels
of
bus-ness
acUvity.
and
agricultural
loans
arising
out
of
the
large
carry
over
of
wheat"
Industrial
Prodoction
Hither
Than
Ever
Observing
that
business
condi
tions
were,
of
course,
dominated
by
the
demand
for
war
-upp!ies.
the
general
manager
remarked
that
the
volume
of
industrial
producUan
!n
Canada
was
already
higher
than
?ver
before
and
that
activity
was
widely
spread
throughout
the
coun
try.
"The
output
of
supplies,"
he
said,
'is
due
to
expand
much
further
ind
it
is
clear
that
we
are
rapidly
tpproaching
a
posiUon
in
which
1y
contrast
with
the
past
ten
years,
our
principal
problem
will
be
the
idequacy
of
the
means
of
produc-Uon."
"In
the
matter
of
loans
to
business,
Mr.
Spinney
said:
"The
rise
if
industrial
acUvity
has
stimuKt-ed
new
demands
for
credit
whkh
ve
have
welcomed.
In
this
cose
also,
however,
the
war
requires
that
i
special
consideration
should
be
observed.
While
we
are
always
pre-oared
to
finance
sound
transac-ions,
and
additionally
at
the
pres-mt
time
to
accommodate
special
needs
arising
from
the
war.
the
financing
of
abnormal
inventories
larried
for
purely
speculaUve
purposes
in
the
expecUtlpn
of,
rising
iriees
would
be
equaUy
against
the
interests
of
the
banks,
their
cus-
-
torn
ers
and
the
public
generally
"
B.
C.
Furniture
Co.
New
and
Used
Furniture
4
DRESSERS
From
3
COMPLETE
BROWN.
ENAMEL
BEDS
From
8
TYPEWRITERS
Of
various
makes.
From
1
NATIONAL
CASH.
REGISTER
Just
like
new
1
COT
In
good
condition
at
7,50
1Q,00
14.00
16.50
S22.00
70
S45.00
New
Furniture
FELT
MATTRESSES
Sizes
3-3,
4-0.
'
Special
20
SPRLXG
FILLED
FELT
MATTRESSES
Of
finest
quality
."
.
.
It
SPRING-FILLED
FELT
MATTRESSES
With
silk
striped
covering
material
8
UNPAINTED
DR.OP
LEAF
TABLES
Very
strongly
built.
Special
$45,00
S3.95
87.50
816.50
822.50
86.75
S
4-piece
BEDROOM
SUITES
Consisting
of.
bedstead,
vanity
and
bench,
and
chlflrobe,
in
waterfall
'
CQO
"A
design
07t)U
4
DRESSERS
With
round
mirrors,
in
waterfall
oan
n
design,
a
real
snap.
44uU
16
CHESTERFIELD
SUITES
In
aU
colors
arid
stylet
From-
875,00
TO
JU04.QO
Phone
BLACK
121
TTIIRD
AVCNTE
Next
Door
lo.B.
C.
aotbiers
If
s
y
I?
Si?
y
H
&
&
&
y
y
y
y
y
y
P
h
O
n
I
I
always
tell
my
family
that
there's
nothing
I'd
like
tatter
for
Cliristmas
than
something
to
smoke.
Then
I
add
tliat
for
sheer
smoking
"pleasure
there
U
no
other
tobacco
just
like
Old
Chum.
That
fixes
it,
SERVICE
OP
A
BETTER
CUSS
(Art
Murray)
"
it
onr
tp
v
qq
nwrF
j
"EVERYBODY'S
WARM'FRIEND"
COAL
Try
Our
Famous
Edson
Hard
Coal
PRINCE
RUPERT
FEED
CO.
EDSON,
NANALMO-WELLINGTON,
BCLKLEY
VALLEV
Office
and
Coal
BunV.erj
Trotier's
Dock
Phone
SI
Gift
Boxes
By
Yardley
of
London
Priced
Froir
$1.00
to
$10.00
Lavender
Bath
Salts
$1.10
Lavender
Bath
Powder
$1.50
Lavender
Toilet
Water-
55c,
85c,
$1.10
and
$1.75
Yanlley
Perfume
.
.
$1.25.
$2.50,
$I.5tf
Ormes
ltd.
"Jjie.
Pioneer
Druggists
The
RcxaU
Store
Phones
81
Open
Daily
from
8
turn.
UU
10
p-m.
Sundays
and
Holidays
from
1Z
to
2
P-m-
and
1
to
S
pan.
If
you
lose
anything,
advertise
for.
it
I