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tl’r'lces Lower than for Many Yearsâ€"Like- lihood of Further Reduction in Opinion of Experts ls Remoteâ€"Many Bargains on Market. The apathy of the London market for Canadian municipal debentures has con- ‘tinued all summer, and now with the be- ginning of autumn there appears to be no improvement in the situation. The result, has been that such municipalities as have recently come on the marker, w1th bonds have been forced to sell them at abnormally cheap pricek or have had to seek temporary relief through financing The articles contributed by "Inventor" are for the sole purpose of guiding pros- pective investors, and, if possible. of sav- ing them from losing money through lacing it~in "wild-cat" enterprises, The mpartial and reliable character at the Information may be relied upon. The writer of these articles and the publisher of this paper have no interests to sere in connection with this matter other than LONDON'S. APATHY HAS REDUCED PRICES OF MUNICIPALS. in connebtfon {hose of the MAKING SAFE INVESIMEfiTS W. the CLEAN EST, SIMPLEST. Ind BEST HOME DYE. one can buquhy yo‘u don't even hnve to know what KIND of Cloth your Goods are mule ol.--So Mistake. are Impossible. Send for Frée Color nrd. Story Booklet. Ind Booklet giving results of Dyeing over other colon. The JOHNSON-RICHARDSON 60.. Limited, Monheal. Canada. Dominion Bond Cmnpany, Limitéd Toronto Montreal Vancouver London, Eng. We otter the unsold balance of $1,200,000 One Vear Notes, dated 1st September, 1912, of a Western municipality. They are In denomina- tlons of $100 to $5000 and especlally sultable tor the Investment of small savings or money whlch Is now earnan only 3 per cent. or less. An exceptional opportunity for the investment of savings in a high-grade Municipal Security (By Investor.) with this reader. Yielding 5% per cent. COMPLETE DETAILS ON REQUEST ‘11 can learn the above reflects pretty well {the general opinion now. Municipal de- lbentures are cheap and there is a fair demand for the bargains. Should the de- fimand follow the usual course and come £1113 to the average enquiry of October and ;November there should be no question of tthe stability of the present level of pric- {es and possibly even an advance in some leases. __., “my, wow m, Aw; A man dislikes faint; praise al- most as much as he hates abuse. At all events, if one has money to in- vest at the present (time there are many unquestionable bargains in municipal de- bentures, and the likelihood of these bar- gains falling further in price is remote; As one hard-headed investor remarked the other day:â€" “It is only a beginner who expects always to buy at the bottom and sell at the top and this is near enough the bottom to suit me.” The question that many investors are asking is not whether debentures are cheap at present, but whether or not they may not become even cheaper. This question is not easy to answer and I can only express an opinion based on the opinions of many of the most expert bond men in Canada. But while their opinions are well worth having they are unfortunately hampered by not being gifted with prophetic powers and their knowledge of the future is only that based upon probabilities. What they think is this: The market has now reached a point where debentures are returning as high a rate of income as they have within the past fifteen years or more. General conditions are excellent, and prices are unquestionably attractive. Therefore, although London may not again come in- to the market for some time to come the absorbtive power of Canada and the States will prove sufl'leient to keep the market from going any lower. This. coupled with the fact that municipalities will considerably moderate their financi- al requirements for the next few months will probably keep prices at about the present level. Any resumption of buying on the part of London, however, will soon exhaust the present supply of securities and the result will be a beginning to an upward movement that will tend to replace prices somewhere near the levels ofva year or eighteen monthsA'ago. ,, "W . “W” “V” p ubV4 It cannotyiae'gai’d that th;; feeling was genera} a few mopths agp, but so far as by means of short-term notes or treasury bills. Investors, therefore, start this fall season with numerous opportunities for purchasing cheap municipal debentures or occasional chances to purchase securi- ties maturing from six to twelve months of fairly high yield. but secured by the assets of excellent municipalities. Just this week, for example, one house is of- fering one year notes of a suburb of Van- couver at a price to return the investor five and one-half per cent. on his money. Many of the larger cities of the middle West are now returning from 45-4 b0 51-4 per cent.â€"a fact that has not taken p‘ace sigee the bed ye_ar of 1907. dreds of men and women an opportunity to earn from $250.00 to $1,500.00 every year with but little effort. This firm manufac- tures reliable family remedies, beautiful toilet preparations and many necessary household goods, such as baking powder, washing compounds, stove, furniture and metal polishes. in all over one hundred preparations that every home uses every day. Just one person in each locality can secure exclusive right to distribute these preparations to their neighbors. They pay 100 per cent. commission to their agents. Write and secure sole agency be- fore it is too late. Address The Home Supply 00.. Dept. 20, Merrill Building. To- ronto. 0nt., for full particulars. “Have you a. good cook now 1” “I don’t know. I haven’t been home since breakfast.” Sold by all medicine dealers or by mail at 50 cents a box or six boxes for $2.50 from The Dr. Wil- liams’ Medicine 00., Brockville, Ont. Miss Beulah Sheppy, Morpeth, Ont., says: “Following an attack of measles I took inflammatory rheumatism. My joints became swollen and the pain was almost iunendurable. I doctored with two doctors, but the pain was only reâ€" lieved while I was taking their me- dicine, and soon returned. For six months I continue-d to suffer in this way. Then I tried electric pads, but they failed to do me any good. Finally a friend persuaded me to try Dr. Williams’ Pink Pills, and I had not been taking them long before I found relief. I conâ€" tinued using the Pills for a time and soon found myself in perfect health and feeling like a. new perâ€" sons I never lose an opportunity to recommend Dr. Williams’ Pink‘ Pills as I cannot say enough in fa- vor of them.” TURN YOUR TIME INTO MONEY Not many years ago even doctors thought that rheumatism was only a local pain caused by exposure to cold or wet. Now they know that the trouble is caused by the blood becoming tainted with uric acid. This condition of the blood causâ€" es the muscles to contract, stiffens the joints and irritates the nerves. If not promptly treated the'stiff- ness spreads and the pain grows worse until you are a. helpless crip- ple, tortured day and night. If the disease touches the heart it means sudden death.‘ You cannot cure rheumatism with liniments, plas- ‘ters or hot cloths, as so many try to do. You must go right to the root of the trouble in the blood. The scientific way to cure rheuma- tism is to take Dr. Williams’ Pink Pills, which make new, rich blood that goes right to the root of the trouble. They sweep out the poism onous acid, loosen the aching joints and muscles and bring ease and freedom where before had been pain and misery. Tlfere .is a firm in Toronto who give hum Due to Acid in the Bloodâ€"Ban Duly be Uured Through the Blood THE TRUE 0F There was a suspicion that he was~ not entirely sane. The magistrate asked him for his reason for rob- bing the mails. Bazencourt, who had fully admitted having commit- ted the deed quite alone, was proud of his achievement. and complained that he was not allowed to carry out his scheme to the end, which was ’00 buy a me-nagerie, to become famous as a tamer of wild animals, make a fortune, and reimburse those Whom he had robbed. on the night of November 16 last, has proved that the extraordinary feat, Which, it was supposed, only a thoroughly organized band could accomplish, was committed by a raving maniac, single-handed. The express, which left the Gare de Lyon in Paris ,at 8.35 p.m., con- sisted almost extolusively of mail vans. Three of them were broken into while the train was going at speed of sixty or eighty miles an hour. About 100 mail bags were ripped open,‘ bonds and scrip of various descriptions were stolen, and certain amounts of cash disapâ€" peared. Suspicion fell on a former postal employ-e named Baze‘ncourt, who was traced to Belgium, and who was arrested as he was trying to negotiate some of the scrip, on which he had made clumsy erasures and changes. He was extradited, and in the course of the examina- fion it was learned that he had been discharged by the postal authori- ties on/account of his e-ccentricities. Mystery in France Cleared Up At- ter More Than Eight Months. Eight months of inquiry into the sensational robbery of the, Indian mai_l_trair_1 betwgqg Paris and Dijon, TOO SOON TO TELL. BIG TRAIN ROBBERY. CAUSE RHEUMATISM ERR;é}"6611?€f,"Â¥iu"1§§‘fi§£téfi"l’£ $35175 equipment for politipal leadeg's anyWhere, has been telling Ins Canadlan brothers Some of the labor leaders are coming to realize that the question of wages, while of vital importance, is but one of many things which are of the utmost importance to the working classes’ ma- terial condition. The question of land values in its relation to rent is one of these. So is the question 01- public owner- ship of natural monopolies. So is the question of taxation, including that most powerful and all embracing engine of taxation. the tariff. These things affect the earning power of the ,workers just as much as the rate of wages he receives. But the strike is useless as a weapon to grapple with them. And so far the labor unions of Canada, knowing only the strike as a weapon, have done practically no- thing toward grappling with these prob- lems. The labor man needs a new wea- pon. He scarcely knows yet what it is. He realizes clearly only that there is need of something; that conditions are rapidly stratifying into a form which does not bode best for the classes gener- ally. Some day he will see that what he needs is political organization. But at present the efforts in the Province to or- ganize a. workin man's political party have fallen flat. hat party’s dependable strength in the city of Toronto is pro bably not more than a few hundred vot- era. Kier Hardie, the powerful but. somewhat ingemperateugootqh sogialist 1§b9r leader, to increase wages, and the one weapon they have used for this purpose has been the crude and often-dangerous and cruel form of warfare known as the strike. In innumerable cases strikes or threats of strikes have been successful, and it would be impossible to estimate the ad- vances in wages the unions have to their credit by this means. Possibly in many trades‘they have doubled the rate of pay they would be receiving if there were no unions. In other trades they have failed, and the curious fact is that in the strong- ly unionized city of Toronto many of the largest industries are absolutely non-un- ‘ion, or open shops. The employers in some of these industries have no objection to high wages, and voluntarily pay the union scale or higher, but it is also unfortu- nately the case that some of the others pay absolutely inadequate wages. There are many competent workmen in Toronto to-day, working 10 hours a day, receiving not more than $10.00 a week. If there is a family of any size, with no other wage earners in it, this means, with rent and the cost of clothing and provisions what they are, that these people are on the ragged edge of penury. Compare such: wages with those that prevail in such a trade as the printers, who are at present negotiating a. new scale and have refused to accept a minimum rate of $21.00 a week for an eight-hour day. WORKINGMEN POOR POLITICIANS. The annual meeting in Guelph of the Dominion Trades and Labor Council, held in Ontario for the first time in several years, has served to call attention to the progress and present strength of the Trades Union movement in this province. While the organization is strong numeri- ‘cally and has secured in some trades an almost masterful position it is not with- out.its weaknesses. It would be more exact to say that it has not yet taken advantage of its opportunities for the improving of the condition of the great body of workers. Up to the present in Canada, the great objective of the trades unions has been All the news from the northland serves to strengthen the optimism that has been developing during recent years. The known agricultural area is widening. In- stead of 16,000,000 acres in the clay belt the figure has now risen to 20,000,000 acres. Settlement is slow, but the point is rap- idly being reached when it will be cheap- :er to clear New Ontario farms than it iwill be to buy prairie lands. Then it ought to be easy to divert the westward stream of lmmigation to the north. The mining industry is making progress. The news from Porcupine continues to be en- couraging in a moderate way. One mine is understood to have produced a, quarter of a million dollars of gold up to the first of September. But the feature of the summer’s work has been the revival of the silver camps. In Cobalt twenty- three properties have been reopened. And in Elk Lake and Gowganda operations are under way in twenty-two camps. And, doubtless, there will be a fresh crop of wild cats for the unwary. Mr. Hearst does 11101; resemble his photo- graphs. They do not reproduce his sandy complexion or his almost fiery hair and moustache. In manner of speech Mr. Hearst is not unlike his leader, Sir James Whitney. He has the same downright- ness and something of the same force 0_f deliverance. Assuming that, those quali- ties in speech reflect similar qualities of the head, it is not difficult. to understand Why the Premier selected him out of 1115 large following for promotion. The Minlster of Lands and Minesâ€"North- land’s Possibilitiesâ€"Trades Union movementâ€"Exhibition Criticism. »While Provincial politics in general are enjoying a rest considerable public at- tention is centered on the work and per- sonality of the newest member of the Cabinet, Hon. Mr. Hearst. who, a few months ago, succeeded Mr. Cochrane as Minister of Lands and Mines. The other day when Sir James Whitney was asked t9 address a. public gathering he contented himself with a few words and introduced Mr. Hearst in his stead, “one of my young men," the Premier described him. Mr- Hearst took Northern Ontario as his text and delivered an important address on Its possibilities. Coming from Sault Ste. Marie, where he is a leading lawyer, the sdbjeeit“ is close to his heart. SOME INTERESTING GOSSIP FROM THE QUEEN CITY. TflRflNIfl CURRESPDNEIENBE KIER HARDIE SCENTS TROUBLE LABOR UNIONS IN ONTARIO. SILVER CAMPS REVIVING. Be goodâ€"and your wife may be happy. » ‘ A clergyman on an Atlantic lin- er had to share a state-room with another man. “After a short lwhile,” said the clergyman, “I be- gan to worry about some valuables I had with me, and at last I took them to the purser, saying, ‘I should like to explain to you that I am very pleased with my fellow- passengerâ€"that isâ€"I find him a. gentleman in every respect, and I wouldn’t have you think that â€"- well, I wouldn’t have you think that my coming to you with these valuables is to be takenâ€"erâ€"«erâ€"ae any reflection on him.’ The pur- ser interrupted me with a broad smile, and said. ‘Oh, it’s all right, sir; your friend has come to me with some valuables of his own. and he said precisely the same about yourself.’ ” Now that the Exhibition is over, loyal critics who would not say a word while its success was in the balance. are rais- ing‘ their voices in protest on account of conditions in some of the departments. The chief complaint is that the Fair has been losing its agricultural character. It is a significant fact that the entries in live stock this year were much below those of previous years in point of num- ber, and no satisfactory explanation has been forthcoming of why this was so. The live stock sheds and accommodation gen- erally for this class of exhibits are far below what they ought to be and no doubt before another year a great change will be made in this regard. Those in charge of the Exhibition realize that if the Fair is to be truly representative of National, as it is termed, it must not b6 allowed to become lopsided. One result of the Canadian labor men’s large attention to the question of wages has been to arouse against him some re- sentment on the part of the great army of other workers and salaried people gen. erally who are disposed to accept the statement that much of the high east of living must be charged to the union: with their unending demands for higher wages. As a matter of fact, the interests of the union man, the farmer, the store- keeper, the blerk are largely in common. The problem is to find a basis for united action. . No doubt one reason organized labor has been slow to agitate in political ques. tions is that well organized labor has been so successful in keeping its wages up to a good standard, that it has thought the other matters were of trivial import- ance. Besides, on some of the most im- portant issues labor men are by no means united in their opinion. A good example is the tariff question. At, the moment some of the most forceful men in the un- ions in Toronto are free traders, or, at least, 10w tariff men. But while the union men of the city would follow these leaders over a precipice if a strike were involved it is doubtful if more than a. small frac- tion would follow them in a free trade campaign. Judging by concrete results the labor men of Toronto are strongly protectionist. somesplain facts along these lines. He declared that in some respects privilege has already become entrenched in Can- ada in a way than it~will take genera- tiona to rectify, if it can ever be recti- fied. Domlnlon Express Bldg., Montreal McKlnnon Bulldlng, - Toronto Ila Cornhill, - - Lonaun,£ng. NA-Dnu-ca; LAXATIVES I CANADA SECURITIES GORPBRATION LTD. INVESTMENT SEGURITIES HATIONAL DRUG AND CHEMICAL 0' CANADA. LIMITED- IF YOU HAVE MONEY T0 INVEST others both in their composiâ€" tion and their effectâ€"complete evacuation without purging or discomfort. 250. a box at your druggist's. CRITICS OF THE BIG SHOW. are entirely different from BOTH THE SAME. and our free Bookâ€" let: “What a Bond Investment moans.” They may help you. write for our Sep- tember List of 165