a

THE OMINECA HERALD,

WEDNES DAY, SEPTEMBER 19, 1934

Pa

Stock Offered |

2 Department of Finanee,
rOttawa, Sept. 17, 1994 - -
Shares of the Bank of Canada to
Aihe umonut of $5,000,000 ave offered
for public subscription by Hon. Edgar
BN. Rhodes, Minister of Finanee. The
gSbares are of $10.00 each and are of-
Re foved at par. Not more than fifty
shires nay be held by one person, and
ouly persons who are British subjects
ordinarily resident in Canada, or Can-
ilitn corporations cantratled in Can-
ada. may own stock, These provisions
Will ensuve a widespread interest in
all parts of Canada in the ale of the
stock of an institution to which Par-
Yaiment has entrusted wide powers
Band responsibilities affecting the fin-
wneial and economic welfare of Cana-
dln.

The Bank ix authorized te pay

Po cumuhitive dividends from its profits,
after provision for expenses, deprecin-

tion, ete, at the mite of 444 per cent, |

Her adunup, payable half yearly, which
is cousklered to be an attractive retain
in compayison with ruling interest
yates on high grade securities, Sur:
pus profits are te be applied to the
rest find of the Bunk or paid into the
consolidated revenne fund as provided
hy the Bank of Cnnada Act,

The subscription list will epen on
September 17th and elose on or before
September 21st. The shares are he.
ing offered simultaneously in. every
part of Canada on the Ith instant,
hefere Sept, 21, consideration will be
and whether or not the list is closed
given to all applicntions posted nat
Inter than midnight of the day on
which the Hst is closed: ie
' Subscriptions are to be mailed dir-
ect to the Minister of Finance, Ottawa
2nd must be accompanied by an initi-
al payment of $12.50 for each share
ind hy a statutory declaration which
forms part of the application form,
evidencing the eligibility of the appli-

cant fo become a ‘shareholder. The
mm halance of the subscrintion prlee, $37.

30 a share, will be payable on Jannary

cad. 135, on or about which date the
ax Bink is expected to commence opera-

mee, tions,
The official prospectus nnd wtpnlice-
me tien forms are obteinahle from post
A ooffices, banks and other financial in-
stitattions.
One of the important fimetions to
Rohe performed by shareholders is the
B vlection of seven director who, with
Me the Govenor and Deputy Govenor of
Me the Fank, form the Board of Diree-
tors who will supervise and eantrol
the condnet.of the busines of the Bank
‘The even directors are to be elected
g from diversified occupations, ns fol-
lows:

Two whose chic? occupation is
primary industry ;

"vo, whose chiet orerpation is in

ae commerce or manufreturing :

> ‘Three, whose chict sceupition is

other than in primary industry or com
A ouerce or manufacturing,

7, In the by-laws of the Bank, while
F linve recently been promulgated by the

Govenor-in-Couneil, provision is made
g for the nomination of directors by the

shareholders prior to the shareholders
necting. For the convenience af those

a LO cannot attend meetings, provision
eis made for the registration. o : their

votes in accordance with written in-

structions which they may give to the
a Minister of Finance,

One of the first steps to be taken in

vthe organiantion of the Bank after the
me stock has been snbserlbed, will be the
a vomination and election by shareholi-
Bocvs of the first Bonrd -of Directars,;

igen

in

To the Public

B.C.

News From Usk

Porey R, Skinner vecompanied his
soa Halph to Vancouver on Saturday
Tast. Ralph is going to attend the U.

a ae | .

Buckley Shannen, who has Deen
working on his mining preperty for a
mmmber of years, ix this year carrying
on operations on ao larger scale than
ever before. He las a good sized
«unp vight on the railway just a mile
or so,eust of Usk and has about fit-
feck men working. He has recently
heen doing some work on another lo-
ention 2 few miles tround the monn-
tain and known as the upper eamp.
Te has completed aceommedation for
several] inen and has just moved one

of the drills te this new location. T.
4. Shenton. farmerly inspector — of
mines wader the provinetal SOVOrLE

nent, is the engineer in charge. Gold
ix the chief value in (he ore and it is
eoportal that there ix goat reason to
believe that a hig mine will be devel-

“leund fines) the best! in fact for

ened Love,
. *
a
West of Usk a mile or two is the
Lucky Luke. anether- gold property,
and if is betig developed by R. WwW.
Sealoy of Seattle. Just recently n
ear load of inmehinery was put off at
Usk for this peaperty. 1t is alsa right
along side the railway. and it is a
likely looking prospect.
- see
AJ AL MeDonakl and) Art Oswold
have completed their work for this
sOAsD on the St. Croix group. Dur-
ing the summer an engineer from the
Timmins interest inspected this pre-
perty and the loeul owners are now
leoking for his report which should be
recelvedl auy day.
eee
Usk is aut present

aor

enjoying very

Around Smithers |

Mr. and Mrs. Duncan MelLean re-
turned from their honeymoon Thurs-
day. In the evening a reception was
held at the home of the hride and
aroun when many friends of the popu-
lair young couple attended.
* - & .

Chirle Morris and Ernie Walker,
hoth of Smihers, had a head-on eollis-
jou near Quick schoul on Friday. Both
curs were badly dnumaged but were
able to proceed under their own power
The rond is very narrow at this point
ad was also very slippery due to the
heavy rains of the previous night aud
that afternoon, According to the two
drivers, both cars were stopped when
they hit one another.

_—* e

Columario Mill
Turning Out

The mill at the Columario Consoli-
dated Gold) Mines (Ltd. at Usk, was
put on a commercial basis last Friday
“afternoon when the first ore was run
through. Tor a week or so the mill
his been ruuning on waste rock for
the purpose of testing it out and tun-
ing it np. From the start the machin-
ery tan particularly well and very few
adjustments had to he made .The
sable fram the mine to the mill has
heen stretched and once or twice was
tightened wp, and at present the whale

W. Wilson of KR. Wi Wilson & Son;
laid off all his men at the Jessie and
the Glacier Guleh Mines on Saturday.
Only a watchman is being kept on for
the winter months,

se ©

Arvid Olson of the culvert gang on
the CNR. eclelbvated in town
weok uid as a result wound up in the

md costs,
nat

Cons. Oland and Martin returned
from Prince Hupert where they were
attending the fall assizes.

. eee

R. Cox of Hazelton was in town a
few days lust week renewing ok ac-
quaintances, | ; H

eee, .

J, Allen Rutherford of Snithers,. a
land surveror, and Don. Sutherland.
previnginl agriculturist, were expert
Witnesses at the fall assize in Prince
Ripert list week, They got back to
the interior on Saturday morning, 1,
Anger aso -returned Saturday. He

t nimmbher of years, and the future is
even brighter. In addition to the Col-
uinairia there is reason to believe that
ather properties close in will shortly
he put on a nimeh larger development
Han. Phe loenl] store is doing a hig
Imsiness and the hotel is quite a live-
I~ place. Anyone who has a garden
ov Hyestock fo dispose vf have vo mayr-
ret right here for all thety surpins aud
the loeel duivynian is doing well, [ey-
Leréthing at Usie is mi the tp grade.

The school tens from New Tlazel-
fon and Cagelton met on fhe Hazel-
fan grounds last Priduy afternoon and
Wayed ao gtue of base ball that was
most crediguile nid provided a lot af
fun for the spectators, Practically all
the New Huzelton ‘children went over
and there pyomises. to he developed
some guod ball plivers from these two
teams. Hazelton won the first ganie,
hut the toca! youngsters say they ean

Hot repeat, The seore was 16 to TA
a: .

The onanal harvestivel services in
St. Potev's: AngHean Church will he
hehtoon Sroday Invrnitg next, Sept,
Sed at 17 oteloek, An jnvitation is
extended to all te attend, The sermon
WH he preached hy the Rectar, Rev.
BR. Shenrman. The ehaveh will be de-
carated for the avension, See particu-
luvs fn the advertisement elsewhere in
this isssue,

oR

Bil Sarevent lett Hazelton on Sat.
uray for mother year’s work nt the
TRC. He spent the summer at his
home,

Jos. Kelly of Smithers went to Van-
couver Inst week for medieu niten-
tion, He expects te he away all the
winter,

The Canadian National Railways is
maklug nt number of improvements to
strtions, section housos, hridge and to
the vightof-way in andiclpnation of an

inerense in business,

Xjuite

A pens’ to the coast as a furor. A
couple of constables who had been on
assize business returned to Sinithers
an the same train,

. ee

Set AL Fatebairn, Accompanied

hy Mrelstrite H. 2. Camphell were in
Ootsn Like last weelr conducting an
luvestigution.

eee

shud te hear she is again able to be up
ater a very serions ness.
sku .

Shinnon Van Alst. of Evelyn, was
convicted at the fall assiges in Prinee
Rupert, of sowing stink weed seed un.
toneighbors fleld. This was the first
case af this kind since Biblical days,
and the judge stuted that he had made
Ht oxcateh of the revord and of literv-
fire. Men have done pretty nearly
everything elxe nuny times, such as
robbing a man of his wife or family or
foods, but it remained for n farmer in
the Evelyn district, ta figure ont the
most contemntable way fo get even
with his neiehbor, At that he only
kot six months. Te seem that a more
fitting pmuixhment would have been to
‘nike him go down on his hands and
knees and curefully eollect every stink
Weed from that field for the next two
or three yours, .
*
Martieniars will be found on anoth.
er page of n Calico Dance fo he put
tm hy the lndies of New Hazelton on
Friduy evening, September 28. It will
be in the New Hazelton hall and good
music will be provided. The; ladies

* ©

Proniixe you a good time, and this does
nat mean maybe.
' “ee

Miss E.G. Craig RN. entertained
nt the nurses residence on Saturday
evening in honor of Miss Doris Robin.
on, R. N., who is a guest at the Hos
pital. There were three tables . and
Inidge was played. :Miss McTangh.

Nn wan the prize,

last:

coop, and the heak fined him $25.00:

Many friends of Mrs, Tudge will he!

plant is rnuning smoothly and effici-
ently,

| Ove thing abent the imfll ts that it
-ecarplotely new and is the most Tu)-fa-
date plant that could be secured. hav-
jug in mind the maximum prodiction
af the minimum of cost. The mannge-
aiient believes that the chief desire has
been gehieved. -

Turning |
Concentrates

Ship First Car This Week

nuiliger of the company and is in
chitge of the work. ;
‘Mr. Batte.. a mining engineer of
Vancouver, [2° has a wide reputation
and an ep” ale one, has been consult-
ing mugin ‘tor two or 3 years, and
it was on’ _ndvice that the company
proceeded, awly with its — develop-
ment pratyn. Today, however, Mr.
Batten < "le uf the most enthusiastic
mornbor, | athe stuff and he wants to
ver thin | one on a big seale. He js
satisfied “ith the property as a per-
manent "ducer, imd one that can he
sperute: sith a profit.

The p. as of fhe Columario Consol-
idated Gola Mines Ltd, is to earry on
exploration and development work on
an adjoming group of elaims add ta
keer development and ore reserves
well abead of initl capacity, and as
they have a. good. deal of ground this

A few days ago a small amount of
ore Was run thlyotgh for a test of the
tock and five ounees of gold were se-
enved. ‘The inf is nominally a fifty
ton plant, but by working three shifts
the capacity can be stepped up to nin-
chy toms per day. For a short. time
auiy two shifts will be rum until all
Larts of the machinery is working at
its best, At that the company ex-
liects ta have the first car of concen-
trafes ready toa ship to Trail the end
of this week. The second and third
ens Wil go to Tacoma and to Anyox
and the net returns from the three
smelters will he compared before any
definite decision is arrived nt as to
iWhere the concentrates will he shipped
| Hermanentiy. Even then’ it’' will ‘be
Ponle temporary ns the intention of the
Mahkagement is to instal thetr own
erenide pliant after further develop-
went apd exploration on * adjoining
sronps has been carried out.
~The Colamario camps ot both the
mine and the mill are most complete,
They nre convenient to the work and
madernly equipped. The welfare of
the men was at all times in mind and
‘life iu gamp with be equal to the best
THivate homes, Hunk houses are well
futuished and lighted and are snnitary
Shower baths are provided in all of
then as well as luvge dry rooms,

The will camp is just off the main
Sheena Iichway nnd it is a most at-
tnictive vhice. The buildings are an
Hew and mest of them have already
heen painted. They will all be yatint-
ed before the patuters awe through.
Besides. the mill huiiding, which is
most tompret, there ape stores build-
ing, assay bnilding, a bonk house, a
mess hense, a reldence fop the mill
superintendent. 4 £nYage, a barn and
one or two other smaller buildings,

At the mine hesides the old build-
ings, there are an DAW less house with
a seating “apicity for sixty, 9 bunk
house and dry room, blacksmith shop
and conpressor and power house. All
buildings ave eleetrie lighted and pro-
vided with running water

For years Capt. John Willman has
heen assoclited with this property and
through all the Ups and downg experi-
eneed by the various companies that
have udvaneed it sradually to its pre-
sent stize, he has consistently _main-
tained his faith in it nnd hus worked
dlligently te put. it. on £: commercial.
ly producing basis. If was only a
couple o£ years ago that he secured
financial backing from Ontario and
Just last year the company wos re-
organized again and now the mine is
vendy to start returning to the com-
pany the money that has been invest.
éd in ft. Capt, Wittman fs stil the

. iy ;

ria
M

wil] be comparatively easy.

The concentrates will be shipped vin
Usk xo long as the ferry is open wid
then will be hauled to Terrace until
the spring. Good roads connect the
mill with both stations, and a goal
road. also connects the mine with the
mill.

Mr. A. V. MeCunig of Toronto,
mcinher of the legal firm of Elliott.
Thine, MeCuaig & Anger, legal advis-
ers to the Columario, arrived at Usk
last Thursday to spend a week at the
property. He is the representative of
the company and the financial inter-
ests in the cast and is the first of the
new company to visit the property.
He was taken in charge by Mr. Batten
and given en opportunity to see all
parts of the plant‘and the properties
held by the company. Upon his re.
port, or upon the performance of the
Calnmario as a dividend payer, or an
both, wilt depend the extent to which
the Torento mining men will put fur-
ther meney into northern British. Cot-
wubia. The firm of which Mr. Me-
Conie is a member is interested in
minivg inn hig way, and there is lots
of mining money in ‘Toronto, although
a Yet very little of it-has renched tho
Northern Interfor of British Columhin
It will he goad for Canada, and for
this part of the western province
when Canilian money gets really con-
cerned about the mineral possibilities
of this country,

Pacific Doings

J.1% Reid who has been a anest of
8. A. Corley, and also looking — atter
his ininine interests here, returned to
Prince Rupert on Thursday last;

Miss Tlelen Sinith who has been at
the Nichol Hotel as ook for the past
two months left this week for Terrace
aud she ha beey Succecded by Miss B,
Simpson of Kispiox,.

T. To MeCubbin teak a day off last
week and bied away to Terrace.

seo

Another dance was held here last
week, severn] outsiders being present.
Bveryone had a food ‘time.

Tt is surprising how many progspec-
tors hare been operating on Lorne
creek this year, and most of them rat
some gold. One old timer on the
creek took $40.00 out of one pocket ni.
der the olt Indian bridge, ‘Tho wator
hns been the lowest this year that ts
has been for many years and the pras-
pectors were able to get in some gon
Work and a lot of pockets were clenn-
ed out. Altogether tt has been a very
good year on Lorne ereek, -