Prince Rupert Daily News Monday. January 16, 19"0 Aid. W. J ilsht on the Chii,ot: Present Weather Will Continue The The Bridge Tourney At Civic Centre Mrs. Agntfi Murray and O. Ness were winners It: a Civic Centre b. it'we tnuruanient held Friday night. Three t.ibics were at play. Annual Meeting of Shareholders Royal 1?an! of Canad An Independent dnllf new-pnpr tiev.Mffi tn the iint.iniinticr r,t Prlnre Rupert ano an romniumuef; mni;i'tf. n.-.rt nern sn.l .vihi..i riniuii i7.inmi..A " I A'.ithrri. ed n Src-nnf, m Mi.il. Pet, Oiiu-e Department, Ottawa i 1 Published every afternoon except Simctriy by i Vvft.i decided ta In spite of a sharp north wind fnt tu.in. ... . . scJl fiUt? JJl .l1nBt-',s ''. H. o PFKRV. MsnaRiim Director. TP """ " '' .iiifl!N t'Klvss AUDIT BORRAU OP CIRCULATIONS' ' CAMrlAN DAILY NEWSPAPER ASSOCIATION I During business ,di''cuKlon it 1 at the end of April " this morning, milder weather ipicvniled in Prince Rupert over ansger the week-end although no great General M .. ; r SUBSCRIPTION RATES Pifa .m.. vnj carrier. Per Week, rc: Per Mnntn. 7Bc: per Tear, 8 00. bs 4.rri . - By Mall. Per Month. 60e: Per Yer. 6 00 " ..' Programme for Trade Recovery Calls for Exchange Stabilizer FINE PRINTING change is expected . Ra epOrtS ASSetS Sunday afternoon, when tem- . . . i eiatuies ranged between 15 and lJnftcif f Un 2u above, and r. clear .iky enabled T 1 1 lit i - l " i g REGAL PRINTE? talking Weather - Who Isntf the sun to shine warmly, Morse Mr, General Creek became covered with Mr. T. H. Atkinson, Canada's reputation, achievement and strength offset anxieties caused by world conditions development I of resources, increased population I and foreign trade needed PHONE 21 222 Second ;k,iles, nuciicy sticks and pucks Coldest period over the week-end wan Saturday morning when n mperatures on Uigby Island iio.id at eight abov?. During the i'lue hour Sunday, temperatures had risen slightly to ten above. The Iuture outlook, said the Manager, reviewed the 1943 Annual Report and stated that th:-bank's assets had risen by $112,-498.000 during the year to $2,334,-985.000 and that liquid assets constituted 78.27 of the total liabilities to the public. Commercial loans had also increased. Mr. Atkinson reported deposits at a W1-: HAVK KOOSTKD Prince Rupert's weather so often and, indeed, have become so used to our superfine meteorological conditions here one of the most consistently good features of which un- tiJast Christmas had been those well-timed and "tt'iidable rain showers that keep us comfortably li- j A five-point programme for j ' world recovery was a feature of James Muir's Presidential ad- BILL SCUBY'S Clearance of Furs SPECIALS JAPrROA itute of i .- tolls ri'j ,j mouse lI"ulru ncaiLii uiai uc imu ucitav. dress at the Annual Meeting of to J)0ast about those last few Weeks with sunshine I shareholders of The Royal Bank r , ..... i of Canada. Mr. Muir also stress- epy day and clear bracing air. Pd Canada's economic develop- T. Perhaps, some of us in the older brackets whose jment and her continuing role m S blood i -i is not as thick as it used wi to be and ii who are not 4. world ReViewing economy. "international cur- 0 ambitious about Vigorous OUtside exercise to keep jrency experience during the 19th V , , ' , ... , i i. c land 20th centuries, Mr. Muir re- "Twvai'm and would rather imd our heat trom ex- fP,rpr to the stahiniv nf ste.iino new all-time high of $2,192,140,- weatherman, 's for clear skies fl!)0. an amount two-and-a-half with northeasterly winds at 20 times that of 9 Tr: years ago. nii!es per aour. Temperatures number of deposit .accounts total- v,iU be about n above duri t0. led nearly 2,000.000. which includ- . 0j t j , ,flr vt , , ay and Tuesday afternoon. No ed more than 1,500.000 savings . , .... accounts in Canada. An Increase nmv or U exPf- during of $1,400,810 in profits over the llle next Uw d;l'g- previous year was noted by Mr. While temperatures here did Alkinson and after providing for not drop below the zero mark the customary deductions, includ- Lac La Hache had the unofficial in taxes of $4,435,000 and divid- distinction of being the coldest end for shareholders, there was thp ;:onunent when th Grey Kid full length $225 OC j A II U A R Y months so far a )ie result - contrib Mouton Piasticize for ternal rather than internal sources- !before 1914- "Several important ., , . . . . , ... .,, ! factors contributed to the endur- si.-JlUt, frozen water pipes and fuel Dills notwith- ,mg dependability of the sterling 1 RtiiiVlimi' this is .1 o'VP.t vvintKV wt w havino- As; 'standard. First, debtor nations wet weather $1250r MANY MORE SALE VALUES CLEARANCE BILL SCUBY FURS 302 3rd Ave. Uox 1C2 IHat-k 1U 1 able to maintain i accepted excr. m long as we are able i,i to keep warm, and we are not jthey were 2; unmindful of those who from circumstances of one j101'0" lela relatively small adjust- mnnta nf nripiac onrl mnnw in- uni-inpli ti i any unwuiu in mint ana Lew Account of $3,860,313. Improved Facilities Referring to the provision cf iipw premises. Mr. Atkinson said: "Since our last report eleven new branch offices have been constructed at points where facilities were Inadequate and where extension of existing premises was impracticable .and at forty-six other points improvements and comes. Second, debtors were j; sort, oi anouier may ne iincnng it a nara tning to uo, mercury plunged to 72 below over the wee-end. Phone Engineer Is City Visitor In rr.nv? icvner; survev'i'g the : city's telephone sys;cm needs is F. J. BartiiuiJinew, electrical en- BROADWAY CM cil the reus: "Shop i 4. CD F might consider our weather lot in comparison "VTtTi many other less blessed communities, (such as Vancouver which has been getting everything un- willing to accept the discipline of the gold standard and to acquiesce, under the rules of that standard, in the price and income adlnsl menl.s whirl, their tmdinp . uleasant which the Weather Man could find to throw 'nosh ion reauired. And third, the uori' roi President Advocates Five Steps Toward World Trade. Revival Devaluation has at least broken the log jam; but we must lake immediate advantage o! this Initial break in the barriers to trade which have been thrown up by overvalued exchange rates and rigidly held in place by government controls. The steps ,in .ny opinion, are as follows: First, nations of the wor'd should re-learn a basic lesson of the first world war, and settle their war debts. . . . Second, for a certain fixed prriod, we should let the market determine rates of exchange, as it did immediately altr the first world war Third, at the end of this period of free-market valuation, we should stabilize currencies by reference to the rates which the free-market ha determined .... Fourth, having stabilized exchange rates at the level d-cveed by the free market, the world must adopt some device In keep them that way The gold standard kept nations within their means before the -i,'u. of the great illusion that international eauilibrlurn ca'j Mily be achieved by clamping the fetters of exchange control upon free international tratl. Fifth, the gold standard (or ils equivalent! must be made to work by the prooer riis-cinHne not only of debtor but f;f creditor nations as w.'it. This means a return to the inn hasic requirements of respon. ible creditor nations: vigorous international lending and free trade. extensions of a major character -k a line have been comnleted In nrrier '"eer with the Electric Power t mploye till only i intst Cool Hours 7 a in t For TakeHome Orders Phone 200 ." at it), and figure how lucky we are. That might be a comforting thought to keep ut !aole through the vigorous inter- ,, .;.,;i ,,(;i .,i ,,. i,., ;i u v A i , 1 national lending of her financial until our spirits (and we hope it won t be too long' ,nnd buslness coimunity and the those skies over in the southeast commence to cloud il'ee trade policy of her govern-Up and bring us that gentle precipitation and those ent' . ' refreshing zephyrs which we are so u s e d to a n d jTeeU' y'eLr-which we reallv dont appreciate enough. Wouldn't ;eecy we must combine the ies-it just be a reai pleasure for us now to hear the pit- j' 2S the a-i teirjatter on the roof tops and the soughing around nt. in the past, as in any reia- in l,,n A '' 9 ! tively normal period, rcsponsi tne nouse colliers I for ,buity international economic ! stability was divided between the to better serve the puUWc in disl- tquipment LM. of Vancouver, rlcts which are expanding we Mr. Earthy jmcw, also a re opened twelve brandies' and six pre scnUilvt fur the English Gen sub-branches in Canada.' At the tral Electric Co., manufacturer.- year-end we were operating 665 0f automat i'chboard ant SotS" Canada 62 tck',hone 'l"ilt. arrived In - ,' the city unexpeed!y Saturday service To Traders The engineer told Mr. Edward- Mr. Atkinson stressed the roK? he had read about telephone con flayed by the Royal Bank's 62 dUinns here and de-ided to ha v. re1'net,.naHberain fnr,Ultal,n a look for hlm.seif. He is the first loreign trade. "For well over a , , , ,,, of englr.rrs who will many un-erated quarter of a century we have op- an extensive chain of our dobtpdly maKe im trip to tht own blanches in foreign coun- tity and "talk shop" with the tel tries; in lact, at certain points ephone superintendent. we have been established for over half a century, and as at Novem- Fnnv p. . -,,. - - r- J(,i Values (or You Lunch Kits O Pyrex Wore creditor and debtor countries of the world. But, In the period : HOUSES AM) HOMES r6 Adverli .. Cia Birt Hercolotors Pocket Knives O Covered .Roosters X7 immediately following the second IRTUAI.LY ALL CANADIANS will be inter- i world war the primary respons-. , . , , , , , , ibility lay with the creditors; ano - terested in work now being undertaken by the ;,n lweting the responsibility, the Thermos Bottli arrived at thrf end of the week v.hkli includeci representation in the kev cities nf n mai,,,- K.,th lrom "ls nomf on the Naas River THOMPSON HARDWARE CO. I lUlv American Republics, throughout and -s'i"eS las: night on the Chil-tlie Caribbean area and, ol cotin for Vancouver where he will course, we are established in Lon- pay a business visu before pro- National Research Council in an effort to devise new, united states and Canada em- '",,ip . i ' ' 'barked on an unprecedented pro- inexpensive methods of constructing warm houses gram of loans and giftiS t0 the '"says the Victoria Times. Building costs at present j war-torn countries of Europe.. . ' . , . 'i "The nations of Europe, ii i c .1 i are a serious hurdle obstructing solution 01 the nous- through their own efforts and don, England, and New York City. and our affiliate operates in reeding tu Victoria lor the session of the Legislature opening .icxt montn. : 3l Canada' Wraknm. ir Wnl'i. P1"18' France tu'r nvnliT-ifwith nil its snHfll ramifications. Rut it with the help of loans -and" slits 1 i chain of i ne wiciespi eaa branches coupled with our extensive correspondent relations ihtoiH'hout the world serves as a 1 i i'wiu auiuau, nave uuhu ujj nn;ii ""-'iv-u u owmc urtau iu vail- , . iift a mi 1 ji 3f,-d0UbtllU if any tears Will be Shed over the Cleci- production to the pre-war stand- ada s export position and her vul- -Won Of enerimentei'S to reject Cinder-COncrete ard- Further progress In pro, 'nerability to the current unbal- 1 , ., , , , duct ion would be immensely ance in international markets, blocks and rammed-e'arth i bricks i as suitable mater- beneficial, but the immediate After summarizing Canada's iolj tV.v hnmoc Wo nan pmvpp1v imao-iriv'a 'lirosnec- ProWem has become not prod uof .trade in 1949, two main conelus- TREATS 'First,, our constant source of statistical and other information Including import and exchange regulations which otherwise mitjht not be readily available to us, and our central bureau in Head OtP.ee is Utii' , ' , -i ' -JU 1 Uon as sucn but efficient proi ions were stressed: "1 ?! lhA host WlOWinff much pride as i he lnvitt!, a r inenCI ,iUction. In other words, we are 'over-all surplus with the v.6rld to leave his asll-hean for a visit in the owner's mud jbtack to normal times again in 'is dwindling; and, second ,our i the sense that the old nmhlim riinM-tc.rnii....u.n... Ii , To Stort the New Year kight Baked fresh daily RUPERT BAKERIES LTD. 611 3rd Ave Vh, r, hut::- 1 ' iof competition In InternationoJ ' exports to 'the United 8tats te '.'"r ,,0SiV,n IV ,"P"'? Tho ctviH-iwI nr.a1n.rv iwprl tr, rnaVA n snpcific tlaclp' 8UCh as costs' P''ls. and becoming relatively more im- " ? C'!"l! U..? Canadian companies and others ' . ., . salesmanship, must once more be "portant than our indirect earn- )011lt. Housing schemes subsidized by Dominion aU",met. Under these conditions, we tuns of dollars through trade with thorities here have unouestionablv helned to relieve f" ".tfte..iv.en"vene?s a"rt . u.8.-Hnanced Europe." linving under consideration establishing business relations wi'n clients abroad. We firmly believe , i imaginauon wnicn nave neinea Mr. Muir referred to the dan- that through helpful information a very severe shelter emergency. But limitations in debtor and creditor m countries by . , i;t i iii i mi u PKinniiflnpfi mnrniB i n i nn in iq i'w in niRir'tcmiui ScaiSliiHTS Ifi design have created a certain sameness that fre- lai" tey have along' "froad in EurPe but "the continued our foreign organization wiii con- mientlv fails to appeal to feminine eyes. This is not to world recovery. But we need :f""" J,.UT. ov"sf 8 customers tinue to serve a most useful pur- 1 l -y to earn sufficient in the . also t0 restore as nearly as we dollars, through pMse to Canada develop- Ottered 111 criticism ot the construction. Note 1? can the favorable economic en- ,rade and investment rather than mcnt of markets abroad tc:- taken of the situation merely to underscore the fact jvironment that made interna-; SfJ' dollar! surplus goods- 4K . . ,r . . tional stability possible in the ! ?rea m&ZJl, s t0 reallS" u- Proud of Staff that .something more than the utilitarian should en- golden age of the slerling sland- ntrade- That ls- we ms,y ,nave to a warm tribute to the bt.nk M "..VA- L . lie- lA Trilight Lamps, silk shades H Boudoir Shades Boudoir Lamps ter.into consideration in home construction. ,ard " Itradf hrMt was paid by Mr. Atkinson. "a' u I The Conxion Ef.nomv L 1 V S'" E,lroP ' "There's nothing this Bank is Table Lamns silk shndes It ,.,ir t mn.-, ih r,niiiv nf Hi 'ui llJ;JcLlJll iu l n r i warm ciuiiioi ilic .a ---.7 uu ici numc ucgire utBire uy uy lirci-easeci increased W .,,.4- ui,i J 4U ! mulr oiscussea tnc uan-,saies 10 me dollar area." Gainsday Ironers 12' personnel. Wilhtn every officer, General Electric Radios v, 19.95 to 26! mm. nut, um fjiuuui i :m-rtj.i litres dim ciiiiitn caci- i adian economy In 1949 under four cise their attention. Design should also be given con-:maln heads. "n Canada's repu- ' , , , '. tation, i2i Canada's record, 3i ii.i i t,, , i fc.-;yaei'RblC thOUgllt- The young people of today fre- Canada's weakness, and (4i Can- -arruently will accept any kind of accomodation which !ada's strength. Single Burner Hot Plates "The least transferable of our 1 believe, there is a fine sens? ef major exports overseas arc wheat pride In this great Institution and wheat flour." In this case, he pride not only In Its acl.irve-pointed out, "shifting is difficult mrnts and its pre-eminent place owing to large exportable sur- in Canadian and world banking, pluses of these products within . but pride, too. in its being a good Electric Heaters ,'-:. , 9.30 to 4 ' ' vannun a iirrumii(Mi. ivit i , j 1 . i i General Electric Washers niuun uitu liicui nim niccu iiifti Miinr.aru.-s : Muir pom tea out tnat among with pumn control S.fn foreign observers "Canada is at tne united btates. To finance i"Jlc ,lu WU,R- . " 'c 'comfort lint the vmt maiovitv spelnn.r niiavfov- SV , V , mfJ01,lt' Seekl"ff Uaitei. 'once the bulwark of free enter- I P"t throuRh new loans ! P"vlsor. and branch man- TO CONTINUE AS A.E C. HEAD Chairman of the VS. Atomic energy commLsion, David E LllWnthal, is shown after a conference with President Truman. Liilenthal, whose reslgna tion, became effective on Jan 1, 1950, Indicated that he may continue his duties ior a short period beyond Jan. 1 until tht chief executive picks his successor. He had said his resignation Is due to dissatisfaction with the atomic energy program and he wishes to Inform tin; public in an unofficial capacity. He also signified the U.S. atom bombs are 1,000 times more powerful than those dropped duimg the war. wealth. Against this prospect , the few hundred millions of U S i dollars that measure our presen'. dollar difficulties pale to ln.sig-nilicance." "This prospect of economic independence does not mean a reduction in trade. We do not have in wnicn tney nope 10 spena a large portion ot their prise, and a model of wisdom of ine unitecl Kingdom would ",l u" v"Tr'r -.V. "r u...... i..:....!. i.. .i . .... Ti i i , ,, ,, mwmmput r.a,.inH- h ! mean a return to our lending ' road of apprenticeship within the 1 1,ltU MUU,Ue 111 UeS1'Un- 11 C0UK1 maKe ali lne i talk the lann-, Isessor oi ran . admire private Pcy of 1945-46 and a refund U Bnnk; they same NORTHERN B. C. POWER CO. U diffei'ence between house and home. 0 t unre as the young people who on; position banking system and of the best!01"''' dollar-short following tne same route, ano practice In efficient Central Bank lJ,(- I'hwi' ! they are united In trying to make llesner Itlorfc PRINCR Rl'PFRT. B.C. fnntrnl llip ctrntitrVinlrl rf o ,rPV.4 m-,... .1 STKWART : sound conservative tradition and Jment in our world trade would hi ,, pit-cwiiii as ': the home of interesting expert- be an Increase in our Imports 1 pon 8 ' Iments in political and economic from Europe and especially from 1 i order." - ! the United kingdom, or lncreas-arapf,ie.,rnalia of Kovernment ! "We don't have to be too mod-ved dollar earnings by these coun- ?"n,Io!' , . , ot r i est ,at least among ourselves. We tries In their trade with the Unit- Canada s strength. It is re-j can spare ourselves an Inferiority led States " . freshing to turn from Canada's complex and the abnormal na-j .... ... ; difficulties in the next few ' tional behavior to which it may!, . auemPt f, tnls sl't through 1 months to her prospects over the dir r. i. o noHn 1 uher curbs on imports from next few vears. or better slill nv r FECOALf! Inter- ..o a ..av.u.i, nC iiovc ... tts. i c..i. , . . : . - , to turn 0,.r our backs nfifks on on the ine in fS'rLl'rib ot nations that --r. -- w .,,.,. u nic tnc ac- lnternational com is guou. uui. tne power ior goou . . , r.nu,u nmniniii . .. . . .K B rliano-p r.in .rn ih oil ii.. .h. , ..... companies is uieie, anu 111 as in prev-i j . . . --"''"" wmu n.m umj u n1 .... Trade among Independ 1 inne voare mif nmA rennta 1. . ., a lt nine i, uiing auoui an enormous ent, Industrially developed coun Increase' in our national wealth. ; large measure, supported by our: ".""UV, lllc wol,a Pcnn tries is the most profitable trade : These sources of ,2, Canada's Record. Mr. Muir ! P7- ; natural resour- 1 ZZrtl Dlieny summarizea Canadian . " J " " nu uic iraper oi our people. , , , inri!trHli7ed mousirianzea rntintries countries a inn n cl u..;l .... : we have in mind w thont. nn in. "Cnn.'. ,....,. . '. ......1. . ... j crease ase in in contro controls s .. . ." " ource nn. 1. is her , unoti-cieveiopea 1 Z: ' ; Z:r aieas, .,"r.a, away 2000 Itcronls New -Used -Withdrawn YOUR CHOICE 0 for fl.OO 20c each . , working population. , yr.ni ttw u lui wiiei nuclease in . ... - ii uiu ti auc Liiuu icuuiira 111111111:11 i Canada's Industrial plant and; "The nlain truth is that Cnn. Here- as tn our forests, mines. rina i . j equipment, the j the high levels maintenance of ada's domestic prosperity depends 'nd 011 f'oX we must practise dustria Iequ'als And in this evol-of consumption ' unon our handling of a compile, conservation through the wise ut ion of world economy, Canada i attained In 1948, and the over-iated foreign-trade problem. And and economical use of what we Is at. nreipnt. lenrlinir th.i mou i all expansion of the net and in the final analysis both ourihave- But t0 Parallel our new In the development of Canada's gross national product beyond the domestic prosperity and the fu- j dfscover.es and to ensure their natural resources their use by a I record levels of a year ago." He ture of world trade itself will de- i tnU and efficient use we must larger population and the ex- uuieu wo uiai, wnaaa is one oi.pena upon a concertea interna- r'"ua' 11 ova policy oi irarai- cliange of her Increased Industrie few countries today that can ' tional effort by all nations to . Rfation. In this way we can in- trial output in "an expanding still boast a substantial budget return along the path we out-icrca8e the quantity of the one and enriched foreign i.nl" n,- " Tl. C.r.. M.nli.w d.mi r.W. I nr. i surplus. This not only contributes 1 lined earlier; that Is, along the ! resource that is in short supply. Mulr saw "nn effective guarantee ! to stability, but It turns prosper-.path lo multilateral world trade! I" thil way we can remove the that. Canada shall achieve an Ity to good account by improving unhampered by exchange restric- on factor that sets a presen-t assuj-ed and pre-eminent place the credit of the government." tions. bilateral pacta, and all the ; limit to the growth of our natural : in the economy of nations '11 ow is everything in Florida, dear?