iii current a c. . IT.. r.j teru fijn to the fullest ex may be required of II.. - - m n Annual Bankers' Meeting Canada's Banks Are Smoothly Financing Dominion's Big Effort; Position Very Strong TORONTO, Nov. 13: Canada's vast expansion of wartime manufacturing and her large increase in cohi-perce have been "so well, so sinply and so smoothlv" fenced bv the chartered banks, that ths financing has "a6t "u iaw" Pw- money reform sugges- tinru 'b:-i down to Inflation" vauy wuuv ui n ai mainly nidation of bank note lame through the Bank of Canada. He did not think it unfair to conclude that advocates of such reform must either seek to avoid t share m taxation a n d in the m-ri-iccv oi war along with those of the men in the armed forces, or w.:i) the idea of profits to themselves 'Otherwise," said the baJK- prudent, "Why attempt to CL-'ird a smoothly-working KiC:'.- a! 6Ut:h a time?" Maintain Strong Position T..:.i ccpoti increased, and L.j .,u:aity unimpaired, and in :..au.aai accommodation to pt... in L.fc Ml : .o u'jausuy greatly in-;. :e uic war, more es-,3 tac second year of . ; d. the chartered Jafiray said, "maintain me past i montns) was some thing over which all Canadians might rejoice. 'The vast increase in employment, In industrial output, in im-1 port-export trade and in agrlcul- tural marketing," said Mr. Jaf-j fray, "fully Justifies the observa-j tion that the increase in Bank of j Canada note circulation is em-' phatlcally not out of line with the country's Increased volume of business." . Wages and Inflation Upon the wages aspect of inflation the speaker found it dif ficult when rising wages served only to increase commodity costs,' to see how the recipients of the rising wage could benefit. He wondered, and he felt that wage earners must be asking too, - -su me uanis oi uan cfit and many must suner. from w. -u,(d, should issue a wage-forced innation, he added. x,(a amount oi note Mr jaffray wondered If pay its duis mere- wrio urge that w should spend tic iw. ae felt, people our and exhaust our energies r come confused on by experimentdng- on their theories -.i u. whether of the mther than getting on with our, - aJa or of the chr- j0D, are not allowing their pre- KUk lie illustrated What IiuOab in intrrfpre with the war cy likening bank notes effort," and found room for satls- sic., ai work. faction that the government ls Only -Jlen at Work" "taking firm and energetic steps He uta Bank notes are only to check the tendency toward in- s3 oKrr.. to facilitate the im t: c, calf as much work as aspect of the war effort, Ci bciore If you translate tion of securities held abroad. Mr. J bank notes, It means Jaffray said, had amounted to t o cmo ta double the amount some $440,000,000 in two years; ' an ,.3lr, ln cjreutetion and Interest on tins wouia. aiu kc? thc o circulation you have war, be paid In Canada Instead of "-w to caublc the business turn-.being nt out of country; f cl th? country or you have to this would benefit the Canadian uble &e nrii... nf nnnc Th fconomv. - - L J . hVWM. " 1 c (;:,uon pure and sim- The bankers' president jeyieweaj ln it. other way can the'Canada's war effort which he said aun , 0;jk note outstanding was greatly growing. Canada's own J.etrcaceo beyond the amount direct war cosU this flscaJ I year. :;aly mmeA tQ on tneiaside from financial a UtoBrt- JSne-J turnover of the country. .tain, would cost il-450;00'0' v51um. of business that calls Canadians were paying Into Jj mto clrculatlon-notjfederal treasury Jj twgndj VWWW of bank notes that lthcr revenues ouancos to lnrrmw enough to pay the entire ordinary Bness ,, ri..i,.i. i. ,operatlng expenses or tne nra, pointed :,r began, V, . . VA Wjment that had CMnnn out that the notp clrcu- by statutory re-of the chartered been decreased. Bank note circulation, $179,- ne ttond . oulDreak of war, it ,uv,uuuu AUgUSl 3151 v aj i "f which $80,000,000 lank, t tllls or the chartered exHln-i eased busine8s output iuipor,". h 6 lncrease- export- eoonmn liavlng Brown from hSim 10 869.000,000 from 30. 1939 to September inn nnd 71 oercent of her war ef fort as well-or 43.8 percent 01 Canada's war effort, ana muucj aid to Britain combined. 'Canada's own war costs tnis (Continued on Page Two) NOT COMING HERE PANAMA Dr. Arias, deposed oi i -' pro-Narf president f has given up the wea . . J i- r.n. having cnang" Ail 9 Canada had plans. Although agreed to accept him, he does not now intend to fo there. Weather Forecast Tomorrow sT ides prince Rupert and Queen CharA . Ida nrfs Fresh to -stro .u.,rt tn south winds or e High ... 9:30 am. 19.0 (t. mostly cloudy and mild with . 21:56 pm. 18.0 It. Low ... 2:49 a.m. 7.0 ft. 15:39 pjn. 7.7 A NORTHERN AND CENTRAL BRITISH COLUMBIA'S NEWSPAPER PRINCE RUPERT, B.C., THURSDAY, .NOVEMBER 13, 1941. OFFICIAL COUNT IS -GOING ON Election Ballots B e i n r. Formally Counted by Returning Officer K. E. Mortimer. 1 FINAL COUNT Pattullo 1681 Weaver 15S3 Tattullo majority 118 Official count on the recent pro- how vlncial election in Prince Rupert much of these demands are th riding is proceeding at the ofiice i positron and stand Iesult or activities of professional of tne returning officer, R. E. ttaue to aupport Can- agitators who ifv u off labor.s Mortimer. It commenced yesier- contrtbutlons, . and - who; In order ana continuing toaay. to ensure" their Jobs spend their1 Mr 'Mortimer is being assisted kaieitakim:: rbSv-nromiict.whfeli Pi nl". ?"iVJ wijx aw. u of a successor to fill the vacancy on the staff caused by Miss Halll-well's resignation is expected to be made by the end of this week. Bulletins ENVOY OVERDUE LONDON There is no word 01 :rk l.:o be as lone employed. President of The Canadian Bank-1 here of an overdue plane bring- n . . ... . i . i i . . i-, : .. v. -.1 , z.ar.on would be for each ers Association. Anotncr iuuumai ltlg Lawrence A. Steinharclt, United States ambassador to Russia, and other officials from Moscow to London. It is thought that it might have been forced to land on account of unfavorable flying conditions. RECRUIT TO STRENGTH OTTAWA Reserve army units in Canada have been authorized to recruit up to full strength. They have been heretofore only at half strength. IMMIGRATION CONTINUES OTTAWA . Despite the war immigration into Canada continues. During the last six month 5000 immigrants arrived in the country, 1150 of whom were from the British Isles. LAPOINTE IN HOSPITAL MONTREAL Hon. Ernest La-pointe minister of justice, is a patient In a Montreal hospital. Nature of his illness has not been disclosed. TEACHERS THREATEN MOOSE JAW Moose Jaw school teachers have threatened to walk out unless a thirty to forty percent salary cut which was made during the depression is restored. AIR WAR QUIET LONDON Bad weather prevented German aircraft from coming over Great Britain lasfnight. It did not, however, deter the Royal Air Force ixom attacking enemy territory, four British planes being lost. JAPAN AND UNITED STATES TOKYO Kelaiious between Japan and United States are undoubtedly deteriorating further, it is stated in authoritative .quarters. In one place it was said that United States might already be considered at war with Janan. FINLAND AND RUSSIA LONDON A dispatch to the Daily Miiror says that Finland Is agreeable to cease fighting with Russia when a safe defensive line has been reached. HOSTEL JS NEW FRONT IMPROVED IS DEMAND Salvation Army Doubles Its Capacity to Take Care of Needs of Forces Here. (i. uriai-y rerorm, ne thM; mimt ihomwiv imni. .n- Kay. wruie x. w. urown ana Ar- Notable improvements and ex- :.?.c type most generally no, f ullllled in any final anal- tnur Brooksbank are attending tensions have been made to the uj Hi a l KUcrn-.vrf of iralth " WnhMv ran hn. Emanuel Shinwell, Labor Critic, Speaks Before British House and First Lord of Admiralty Rcpllw: J LONDON, Nov. 13: --Renewed me count as representatives oi salvation Armv hostel lor soiaiers demand that Orpat Rritain form Premier T. D. Pattullo. the Liber- on Second Avenue, it is being a second fighting front to aid al candidate, and Mrs. J. S. Black found by visitors this afternoon Russia with emphasis on the dos- and E- A Evans on behalf of G those w. weaver, tne canaiaate Resignation Of Miss Halliwell Miss Lillian Halliwell, for yrars a member of the teaching staff of Borden Street School and more flatten which, has already become lccently vice-principal, has re- mc:t; C: deferred transfer of evident." He added: "'I am i EoC.r or service. They are that not onlv the banks but all to a tr.-.; men sent out to do right-minded citizens will afford ' work, their work being them every support in their ef-J tommodities from fort." -Jcnuc! a-iother. When their Outstanding Financial Events r t .ro.. ',h. Just as in the Touching V!tory Loan 1941, the ' C: men who have finish- speaker lcccunted tho totals 968,-fi toe oa they go h o m e the 259 subscriptions. $730,376,250 rals-o :. oaaic not being the cd in cash, with conversions mak-C-i ue, it. ing up a grand total of $86,820,250, tl o , ,w my simile, further, and said that a great share of the "a :d to employ twice as credit for the loan's success was at j d dn t he same amount due to Geonre W. Spinney, a Vlre- sure signed her position. Appointment on the occasion of a public lnspec- sibilities In Libya was sounded in tion of the premises parliamentary debate today by Taking over of' the adjoining Emanuel Shinwell, Labor member, quarters which until recently were who has been among critics men-occupied by the C.C.F. Club just tioned as possible recruits for the doubles the available space British cabinet. Replying for the but the accommodation has been government, Rt. Hon. A. V. Alex-more than doubled. There are ander, First Lord of the Admlral-now forty-six beds Instead of the ty, disclosed that Shinwell had former nineteen. The reading and refused office when Prime Minis-sitting room has been extended ter Winston Churchill first form-across the entire front and an ed his government in May, 1P40 office and locker room has been and said that Shinwell had, ap-lnstalled. The hot water heating parently, decided that his role tank has been doubled in capacity should be that of self-appointed and washroom facilities have been critic. improved. The house also heard the pre- The popularity of the Salvation diction from Austin Hopkinson, Army hostel is attested to by the independent member, that the very fact that the extensions and United States labor situation "may improvements have been made be leading up to a general strike," necessary. simply due to the Inexperience of Murdoch McCfure and H. C. trades union leaders." Moles are the caretakers with Ad Jutant E. D. Brunsdon. local commandant, in general charge. French Shops to Open Extra For Pre-Xmas Rush PARIS, Nov. 13: French shop- workers will work two hours over- i TODAY'S (Courtesy 6. D. time on Tuesdays, Thursdays and Sheep Creek ...... Saturdays durlnn the Dre-Christ- Oils mas rush, xney win De entitled , uainwnt I Neutrality I Amendments STOCKS Johnston Co.) Vancouver Grandview .17 Rralorne 10.50 Cariboo Quartz .'. 2.20' Hedley Mascot 43 Pend Oreille . 1.C5 Pioneer ji - 2.05 Premier . Privateer Reno .67 .97 .10 .87 to time and a half overtime pay.C. & E 1-30 Home - 2.45 Canadlan MiA I Toronto Beattie - - 1.C5 ! Central Patricia . 1-36 ; Consolidated Smelters 38.00 'Hardrock 67 A rl H t t-nvi 4.4(1 Tnril HnilCP Little Long Lac 155 McLeod Cockshutt 2.15 - eon iMaasen ea L,ase WASHINGTON. D. C: Nov 1 McKenzie Red Lake LOU 13: Q The House of Repre- Moneta - -30 sentatlves today passed pickle Crow --. 2.60 amendments to the neutral- !preston East Dome - 3.05 Hy bill permitting the arming San Antonio 2.18 of American merchant ships. sherritt Gordon 91 and allowing them to be sent into combat zones. The vote FLAG OF ALASKA was 212 to 194. Alaska"s flag is eight gold stars on a field of blue. . MEIGHEN ACCEPTS Agrees to Take Conservative Leadership Favors Conscription and National Government TORONTO, Nov. 13: Senator Arthur Meighen last night accepted the leadership of the Conservative party in Canada and at the same time declared himself as favoring compulsory selective service over the whole field of war. He came out also in favor of the formation of a non-party national government, declaring that there should be no party government at this time of national emergency if any other could be formed. Senator Meighen, in becoming Conservative leader, succeeds Hon. R. B. Hanson, who retired on account of ill health. Compulsory selective service and formation of non-party government ate issues receiving new emphasis today as a result of Senator Meighen's acceptance of the leadership of the Conservative party. In announcing his acceptance of the leadership last night and that he would urge "compulsory selective service over the whole field of war," Mr. Meighen said that the present government could not bring the nation to maximum war endeavor. "If a strong ministry on a wider basis can be formed, party control can no longer be justified and should not be tolerated,'' he said. Authoritative Statement On Naval Battle LONDON, Nov. 13: An auth oritative source said yesterday that two Italian eight-Inch gun cruisers "undoubtedly beat a hasty retreat" when British warships at tacked an Axis convoy in the Mediterranean on Sunday. He said thai the British warships annlhil PRICE: FIVE CENTS Alaska Highway Report AIR RAID ON NAPLES "never even been a problem in Canada's war effort." So ,ta,,ian I,igh Command M Di-dedared H. T. Jaffray, president, in his address to the 50th I tU Wiiltr tirtA 1 I "r Zto, Association here today. 30- and employment having ! fitted the substantial Increase mm wage-earners. He ciwu , .u With 338.000 men In thP active the evidence I ROME, Nov. 13: 0 DrltUh atr raiders struck again at Naples ,1 curru,. armed forpe. thls aA, a j.... n. over Tuesday night and there were Denina nu aeciara- A9m . civilian casualties, said an Italian tion .'were IIlRn Command announcement not two earninz vears aeo Mr Jafiray there ore found "lor h' which disclosed also that the Roy-eiarv reform agitationS al Air Fore had made raids on thine strange and commentea mat ,.,. ' j . , i , SlcllV and the Libyan nort of Ben- War News itUSSO-GERMAN WAR LONDON The German position around Tula is still seriously endangered by the Russian counter-offensive and the Nazi retreat to avoid encirclement and destruction is nothing short of flight, according to Soviet military advices. Heavy fighting continues elsewhere all along the other fronts. The Moscow and Leningrad fronts are static, Mrs Berlin, while Scbantapol anil Kerch on the Black Sea are still under heavy attacks, particuiaily by combine from the air. ,. Rocky Mount Trench Route Deemed Best For North Highway Two Ways Are Considered Feasible Final Choice Left to Government Cost Estimated at $25,000,000 to $30,000,000. OTTAWA. Nov. 13 CCP.-P rimp Minisrm Will? ,yon Mackenzie King, in the House of Commons today, ! tabled the report of the British Columbia-Yukon-Alaska Highway Commission which said that two routes had been considered, A and B, and were feasible but Route B would best fulfil the purpose of the highway. Route B would run north through the Roc- - ky Mountain trench to the Llard Russo-German War ruvcr ujm aown uie reny Kivcr to the Yukon whence it would ceed to Dawson and the pro- Alaskan boundary. j The Commission had found that Route B woulcj mean a highway of about 1700 miles and Route A about 1900 miles. The cost of the highway completed to a required standard, but exclusive of paving, was estimated at from $25,000,000 to $30,000,000. The Commission was required only to report on suitable routes, leaving decision as to which may be chosen to the government. STORMING OF KERCH BYJAZIS Most Critical Fighting Appears to Be Going on in Crimea Area. LONDON, .Nov. 13: 0 chancellor Adolf Hitler's High Command claimed today that German assault troops were storming the TWtlficatronstr KefJrf; 'gateway to the Caucasus oil fields, and had captured several coastal defence posts south of the town. Reuters quoted the Rome radio as announcing that German and Rumanian forces had occupied a port which lies, on a narrow strait separating Crimea from the Caucasus mainland. Dispatches to the Soviet newspaper Pravda, however, declared that Red Army troops had beaten off German attempts to turn Russian lines In the Kerch area. Russian front line reports said the Germans were "equally unsuccessful" In fighting near Sebasta-pol, key Black Sea naval base at the southwest tip of Crimea, and that repeated Nazi tank assaults "failed to break through our deferences." An authoritative London source said that sixteen German armored divisions and seventy infantry divisions have suffered "appreci- able casualties" on the Russian front, adding that the Germans were believed to have nineteen armored and around 160 Infantry-motorized light and mountain divisions on the Russian front. KING OPENS PARLIAMENT Refers, In Speech From Throne, To Aid Being Given In War By United States : LONDON, (Nov. 13: O) King George yesterday opened a new session of Parliament amid subdued lustre and pomp, reading the Speech from the Throne in which lit was stated: "The-United States 'is furnishing my peoples and my Allies with war supplies of all kinds and on a scale unexampled in history." Major Angus Moving East Transferred From Victoria to Ottawa on Quartermaster . General's Staff. VICTORIA, Nov. 13: Major H. ated ten merchant ships and two;F. Angus has been transferred Italian destroyers at a range of from here to Ottawa on the Ca-two tq three thousand yards at a nadlan Army quartermaster Ren-point 220 miles south of Taranto. eral's staff.