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Business Conditions Improve * The Imperial Bank of Canada fifty-second annual state- ment reflects improved business conditions. The figures compared with last year and indeed for some years previous show marked increases and reflect improved business con-I ditions. The profits for the year amounted to $1,265,776.31 an increase of over $100,000 as compared with 1925. Deposits during the year have increased by $5,000,000 and for the first time in the history of the Bank exceeded $100,000,000. The total assets have grown from $124,870,000 of a year ago to $131,832,000. Cash assets stand at slightly over $27,000,000 an in- crease of approximately $1,000,000 during the war, while quickly realizable assets are $69,372,575.02 or sixty per cent. of the Bank’s liabilities to the public. Current loans have grown from $50,225,000 to $55,186,000 reflecting the increased commercial business handled by the Bank duringthe year. After paying the usual dividend of 121/2 plus a bonus of 1%, making the usual contributions to oflicers guarantee and pension fund, and after reserving $160000 for 'Domin- ion Government taxes, the Bank was enabled to carry for- ward $1,252,148.23 or $153,000 in excess of the amount carâ€" ried forward in the previous year. 4 THE METROPOLITAN RAILWAY Last week we outlined the situation in reference to the Metropolitan Railway as it stands to-day. The history of the past operations may be very interesting but a solution of the situation is what is required. The statement of the Imperial Bank of Canada is alâ€" ways of peculiar interest to the public as its figures cover 1‘2 months up to October 30th and is the first indication from our chartered banks of the trend of Canadian business. As the Liberal s'ees it there are four solutions in sight. Operation on behalf ‘of the City of Toronto by the Hydro Electric Power Commission operation on behalf of the City In every particular the statement is a most gratifying one and will doubtless prove satisfactory to the shareholdâ€" ers. Established 1878 AN INDEPENDENT WEEKLY PUBLISHED EVERY THURSDAY AT_ RICHMOND HILL THE LIBERAL PRINTING CO., LTD. J. Eachern Smith, Manager Member Canadian Weekly Newspaper Association. Subscription $1.50 per yearâ€"To the United States $2.00. Covering Canada’s Best Suburban Distrim / Advertising Rates on Application. in \’~‘.e\:’l.n\ fiflk‘flfi‘ fi5fi‘9i5} LIABILITIES: ASSETS: PELEG HOWLAN D, In our opinion the Balance Sheet discloses tlie true condition of the Bank, and is as by the books of the Bank. The above Balance Sheet does not include money which has been set aside by the holdersjroxn time to time for the purpose of a Pension Fund, a. portion of which is invested in hold: of tk Notes of the Bank in circulation . . . . . . . Due to other Banks . . . . . . . . . . . . . . . . . . Letters of Credit outstanding. . . . . . Dividend and Bonus Due November ls Unclaimed Dividends. . . . . . . . . . . . . . .. Capital, Reserve and Undivided Profits Deposits Cash on hand and in Banks... . . . i . . . . . . . . . . . . . . . . . . . . . . . . Notes and Cheques of other Banks . . . . . . . . . . . . . . . . . . . . . . . . Deposit in Central Gold Reserves . . . . . . . . . . . . . . . . . . . . . A . . . . Deposit with the Minister for purposes of Circulation Fund: . Dominion and Provincial Government, Municipal and other Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A . . . . . CallLoansinCanadaandabroad. . Other current Loans after making full provision for bad and doubtful debts . . . . . . . A . . . . . . l , . . . . . . . . . . . . . . . . . . . . . . Bank Premises . . . . . . . . . . . . . . . . . . . i . . . . . . . . . . . . . . . . . . . . . . Real Estate, Mortgages and other assets. . .I . . . . . . . . . . . . . . . . . Non-current Loans, estimated 055 provided for . . . . . . . . . . . . . . Liabilities of customers under etters of Credit as per contra. . Thursday, December 2, 1926. President TELEPHONE 9. THE LIBERAL CONDENSED BALANCE SHEET AS ON 30th OCTOBER, 1926 1926 standing.......‘....... Due November 1st, 1926 OF CANADA D. MCK. MCCLmL Of Price, \ SHEPHERD of Peat M With T. T. C. operation and co-operation between the railway and travelling public we have no hesitancy in exâ€" pressing the opinion that the Metropolitan Railway would very quickly become an asset to the City of Toronto rather than a liability as it is to-day. Ripping Up Of Track We are of the opinion that it would be a mistake from the standpoint of both the City of Toronto and the municiâ€" palities along Yonge Street to discontinue the operation of the Metropolitan Railway. There may be a very strong tendency on behalf of the riding public to prefer riding- on r,ubber but for dependability, cheap operation, comfort and safety we still think the street railway is the most suitable method for urban and interurban transportation where the riding habit is as strong as it is along Yonge Street. Purchase By The Municipalities If we understand the attitude of the people along Yonge Street and the Councils of the various municipalities there is little or no chance of the municipalities seriously consid- ering the purchase. The City of Toronto purchased it against the wishes of these municipalities. They then ab- sorbed into the City sytem the most profitable section of the Metropolitan Railway and it is to this absorption and not to the present operated Metropolitan Railway that the deficits are to be charged. There is also the further con- sideration that Toronto is a large centre depending largely upon the outside communities for trade and therefore if transportation to Toronto is to be provided those profiting most, the City of Toronto should undertake the proposition. Hydro Electric Operation Hydro Electric operation would have much to commend it if they had a right-of-way to the heart of the city. From What we published last week it is quite evident that Hydro Electric operation of the Metropolitan as a separate line could not be made profitable even at the increased fares. And increased fares will kill it. \ T. T. C. Operation. To our minds the ideal operation would be continued ownership by the City of Toronto and operation by the‘TzT. C. This would necessitate change of guage but it would give a flexibility to the system that it does not now possess. Private cars for picnics and social gatherings could leave any part of the city and without transfer land their passenâ€" gers to any point in the line south of Sutton. On Sundays when the traflic in the centre of the city is light, and heavy on the radial, both cars and men would be available for the radial line but surpassing these conditions would be the possibility of regular cars morning and evening proceeding to and from the heart of the city delivering their passengers without transfer and the loss of time and annoyance 0c- casioned thereby. We believe too that with a central depot down town, package freight and express business would de- velop to a remarkable degree. of Toronto by the Toronto Transportation Commission; pur- chase by the County from the City of Toronto and operation by either the Hydro Electric Power Commiss10n or the Torâ€" onto Transportation Commission; purchase by the individ- ual municipalities and operation by the Hydro Electric Pow- er Commission or the T. T. C.; or finally, the abandoning of the Railway, the ripping up of the track and the operation of busscs. A. E. PHIPPS 1r§vick, Mitchell 6: Co. AND $131,832.309.65 $10,692 $16,347 21,606,889 13,427,522 62,309,8 4,9214; 1,5343 251,8 564,3 6,530,360 4,004,466 332,730 General Manager. (0:) 564 294 014 000 751 831 364 207 307 . 39 Share- shares shown 65 66 The second test was on the simple rules in arithmetic. Pupils were al- lowed a. limited time for this set of questions. The result stood 38 to 30 in favor of the home team. The visiting team were compli- mented for their able manner in climbing upwards in a task quite nov- el to them. In the hands of their very efficient teacher Mr. Allen Meyer may be expected to give No. 7 a good trim- ming in the very near future. Among the visitors at the contest were, Mrs. J. Heise, Mrs. S. Jones, Master Jones, Miss Velma Brillinger, The Misses Moynihan, Miss Luella Cober. Miss Luella Steckley, Mis Vi- ola Winger. ' A number of our young people at- tended the Temperance Rally at Stouf’fville on Monday night.‘ The teacher and pupils of Buttonâ€" ville Public school visited No. 7 on Friday afternoon. The afternoon was profitably spent in contests in spell- ing and arithmetic. The visiting team exhibited marked improvement in both of these subjects nevertheless victory in each of the three contests was snatched by number 7. The first contestâ€"written spelling, one hundred were chosen from the reader, fourth reader pages 26â€"50, third reader 15- 30 second reader 15-30. Each pupil wrote the words. (The teachers did not take the spelling of these les- sons in school. The result No. 5 had 77% correct,No. 7 had 87% correct. In each school there were two or three pupils who were responsible for a large percentage of the errors. . 1 '.-'ffiévihi;di_iés£;§fiiék work in the simple rules with a score of 18 to 14% to the home team. AUCTIONEER, VALUATOR AND REAL ESTATE AGENT RICHMOND HILL and 111 King Street West, Toronto Mrs. Heise we are‘ pleased to state has been able to bring her babe from the hospital, much improved in h_ea1th. W. Ward Price i 7 Mr. Rose, a student of Toronto Norâ€" mal school was the guest of Mr. Ar- thur Dennis over the wegk-end. " 7 Miss Annie and Miss Mances Gor- don of Toronto spent Sunday with friends here. Mr. and Mrs. Alfred Smith are en- joying their honeymoon with friends around Georgian Bay. Their many friends wish them every success in their new venture. On their return they will reside at Cashel. Rumor says another wedding soon! 0 who can it 139?? Our threshers are certainly enjoy- ing the mud this season. Consider- ablelthreshing has yet to be done on this‘ line. The yield of alfalfa in many instances is beyond the expect- ed return. Mr. Angus Valliere had an excellent yield of fine Seed last week. With a rising price looking the seed-producer in the face, the selâ€" ler can well afford to wear an opti- mistic smile. Victoria Square 1 Black cow milking 1 Black cow milking 1 Black and white cow, milking 1 Black heifer, 16 months 1 Black and white heifer, 15 months 1 Roan heifer 8 months FOWL A number of rock hens 1 Pair bantams. Auction Sale of Farm Stock and Implements IMPLEMENTS 1 Set double harness. Deering binder, 7 foot cut. 1 set single harness Massey-Harris mower, 5 foot cut. 1 Pair top collars. Cockshutt drill, 13 disc. 1 Pair collars. Deering spring tooth cultivator. FEED Set barrows, 3 sections. A quantity of Barley. Speight wagon, box and springs A quantity of Hay. TERMSâ€"Hay, Grain, calf, fowl and all sums of $20.00 and over that amount 11 months credit on approved joint notes or off for cash, '/2 cash for truck. NO RESERVE, AS OWNER IS GIVING UP FARMING. Wednesday, December 15th HORSES Black horse 9 years H. D. Bay mare 10 years G. P. Bay driver 12 years side Black Black Black Black Black Roan Black Black Black MAPLE SMALL CASH PAYMENT AND BALANCE YOUR OWN TERMS Richmond Hill, Ontario Expected to Pay for 20 Years Finished in 14 To Secure Choice Garden Lfind and Building Lot This Is Your Gpportunity Adjoining Markham Road close to Richmond Hill THE BALANCE OF THIS PALMER FARM SUBDIVISION WILL BE CLEARED AT GREATLY REDUCED PRICES ESTABLISHED 1869 BUSINESS IN FORCE APPROXIMATELY 375,000,000. and white cow fresh and White cow fresh and LAKE SENWE BEE, Limited, Wilcox Lake, Fm‘ Firm-VGOd This policy holder is no exception. Every other Mutual policy-holder of the same age who took out a 20 Pay Life P & M Policy in 1912 has received the same treatment and is feeling just as happy. ERE is a case where Mutual profits were so generous H that this policy holder was handed a paid up policy for 3,1000 in 1926 instead of 1932. In addition‘ he was given $8.26, instead of being asked to pay his 192% premium. Mutual Life profits are more than a promise. They are actual, genuine facts, as you can see for yourself, if you will ask the Mutual Life Agent to Show you his Mutual Book of Results. It shows the Mutual’s wonder- ful profit record for the past 57 years. It shows what the Mutual principle of insurance means to you. PRENTICE & PRENTICE, Auctioneers. The MUTUAL LIFE J. R... HERRINGTON Get Our Prices Before Placing Your Order. white cow fresh calf by $1.00 for team had at Ice House See J. R. HERRINGTON REAL ESTATE AND INSURANCE AGENT The Property of James Tut to be sold by public auction at COWS CEMENT BRICKS AND BLOCKS FOR ROAD OR CEMENT WORK CEMENT MIXERS FOR RENT LOT 13, CON. 2, MARKHAM Elmwood Park SAND and GRAVEL Sale at 1 o’clock sharp. G. S. REAMAN of Canada At Our Pit Phone 849 District Agent set doubletrees and neck yoke. Cockshutt plow No. 18 Verity plow No. 21 ‘ Open buggy. Ford truck, 1/2 ton. Steel roller. McCormick rake. Hay rack. Cutter. Set trucks. Scufi‘ler Fanning mill and bagger Horse fork rope, 125 feet. Water trough Milk vat. Forks, shovels, and other articles too numerous to mention. bâ€"‘râ€"IHHbâ€"‘HHHHHHHlâ€"IHH Set double harness set single harness Pair top collars. Pair collars. Telephone 87â€"Residence‘uM. Tutt HARNESS ONTARIO under cash, 5% straight .0: s