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The Dominion Bank Proceedings of the Thirty- Fourth Annual General Meeting of the Stoci<holders. The thirty-fourth annual general held ut the Banking House of the Inst 25. luoa. Among thosi: present were noticed latt, Messrs. Wm. Ince, Wra. Spry, E. Walinsley, W. G. Casscls, David Smith, Ucynolds. A. Fould*. A. A. Jones. II. W. Croclter. .1. F. Kavanagh. .1. G. R J. Phillips, i\ t). Brown. H. B. Hodg Samuel, F. D. Benjamin, J. F. Rislev. Davies. A. W. Austin. W. K. Brock, 10. donald. R. A. .Stapclls, Wm. Mulock, John .1. Dixtin. Chas. Cockshutt. A. It was moved by Wr. W. D. Mat Mr. K. B. Osier do take the chair, an retary. Messrs. A n. Boswell and W. G. The secretary read the report o( submitted the Annual Statement of the lows: To tho Shareholders: The Directors beg to present the business of tho bank for the year end Balance of Profit and Loss Account, 31 Profit for tho year ending Slat Decern ing charges of management, etc.. bad and doubtful tlcbts meeting of the Dominion Bank was itution, Toronto, on Wednesday. Jan. Lieut. -Col. Mason. Lieut-Col. Pel- B. Osier. M.P.: W. D. Matthews, Thos. A. It. Boswell. P. Leadlay. G. H. Gordon MacKenzie, J. Gordon Jones, amsay. W. C. Lee, W. C. Crowther. F. ins, W. V. Harvey. U. Mulholland, S. John Stewart. F. J. Harris. Wm. S. Ball, Wm. Booth, J. Bruce Mac- It. T. Gooderham, Dr. Andrew Smith, E. Webb, T. G. Brough anil others, thews, secoiide'l by Mr. Wm. Ince, that d that Mr. G. T. Brough do act as sec- Ca.ssels were ai)pointed scrutineers, the directors to the shareholders, and aQairs of the Bank, which is as lol- foUowing statement of the result of the ing 31st December, 1904: St December, 1903 $474,902 63 her. 1904, after deduct- aiid making provision for 439,670 01 Dividend 2i per cent., paid 2nd April, 1904 »7.').000 00 Dividend 2i per cent., paid 2nd Julv, 1904 73,000 00 Dividend 2i per cent., paid 1st October 1904 75,000 00 Dividend 2i per cent., payable 3rd J»nuiu-y, 1905 . 75,000 00 »934,372 64 Transferred to Reserve Ftnid „ Balance of Profit and Loss carried forward KESEKVE FUND. Balances at Credit of Account 31st December, 1903 Transferred from Profit and Loss Account 300,000 00 »634,572 r.4 500,000 00 »134,572 64 $3,000,000 00 300.000 00 Property has been purchased at t court-road, where an office will shortly The Stanstead Branch was closed All Branches of the Bank have bee Toronto, 23th January, 1905. The Refiort was adopted and tha dered to the President, Vice-President the General Manager and other Officers ance of their respective duties. The following gentlemen were elec Messrs. A. W. Austin, W. R. Brock, T. Ince, Wilmot D. Matthews and E. B. At a sub.sequent meeting of the elected President and Mr. W. D. Matth term. $3,300,000 00 he corner of Bloor-street and Dover- be opened, in July last. u inspected during the past vear. E. B. OSLEH. President, thanks of the Sliareholders were ten- and Directors for their services and to of the Bank for the efficient perform- tcd Directors for the ensuing year: Eaton. J. J. Foy. K.C.. M.P.P.; Wm. Osier, M.P. directors, Mr. E. B. Osier, MP., was ews. Vice. President, for the onsuing GENERAL STATEMENT LIABILITIES. Notes in Circulation Deposits not bearing interest $ 3, Deposits bearing interest (including interest ac- •32,972 23 $ 2,690,324 00 crued to date) .. 25,947,071 15 29.700,043 38 Total Liabilities to the public Capital Stock paid up Reserve Fund $3,500,000 00 Balance of I'rofits carried forward f .. 134.572 64 Dividend No. 89. payable 3rd January 75,000 00 Former Dividends unclaimed 103 75 Reserved for Exchange, etc 21,726 50 Rebate on Bills Discounted 104,019 24 ASSETS. Specie $1,081,098 80 Dominion Government Demand Notes 2,535,181 00 Deposit with Dominion Government for security of Note Circulation 150.000 00 Notes of and Cheques on other Banks 1,309,290 51 Balances duo from other Banks in Canada .. .. 820,538 00 Balance duo by London Agents 66,569 50 Balances due from other llahks elsewhere tlian in Canada and the United Kingdom 2,342,794 63 Provincial tJovernment Securities 92,683 21 Canadian Municipal Securities and British or Foreign or Colonial Public Securities other than Canadian- 672.162 33 Railway and otiier Bonds, Debentures and Stocks 3,006.450 78 Loans on Call secured by Stocks and Debentures . 2,874,619 16 Bills Discounted and Advances Current $23,689,043 15 Overdue Debts (estimated loss provided for .. . 9.179 69 Real Estate other than Bank Premises 36.877 99 Mortgages on Real Estate sold by the Bank .... 6.000 00 Bank Premis3s 446.000 00 Other Assets, not included under foregoing head* 7.278 70 $32,390,367 38 3,000,000 00 3,835,422 13 $39,225,789 51 $15,031,407 98 24,194,3131 53 Toronto, 31st December, 1904. $39,225,789 51 T. G. BUOUGH. General Manager. THE SEFAUATOK. While the merits of the farm sep- arator are quite generally urtder- Etood, dairyiuen in many sections fail to properly appixjciate that it is invariably applicable to their own iDdividual conditions, and that to every one separating cream from milk it offers a means of belter and more satisfactory results, says L. P. JUartiny. The advantages of the farm separ- ator over tho gravity systani are too numerous to give a full or ex- tcndc<l euuincratiiui, but those of the mo-st importance are. more perfect soiparation. greater value of skim milk, saving of time and labor, sav- ing of ice and a better quality of butter. Under the best methods of deep sotting, it is rather dtlTlcult to keep tho loss of butter fat in the skim milk down to three-tonlhs of 1 per cent., which will moan a loss of 560 in a head of twenty cows, each giv- ing .">,000 pounds of 4 per cent, milk per annimi. This is a very conser- vative estimate, for if we were to take tho average of all coi>rtitions throughout the statv. the loss woutd he about twice as great as i have estimated. Progressivv dairymicn. a."* a rule are aware of tho advanlagos of the coiitrifugnl separator over the old process and coniimnatively little imilk is beinK skinmied in that wa.v, most Wiscon.sin dair.vuion delivering their whole milk to the creamery, or using a farm separator and delivj-r- ing the cream to the creamery. The point ih.il «ill most interest the avernge dairyman is the advan- tages of the farm separator system of cn>aining and then delivering the cream to the crvniiiiery, aivd I wi.sh to discuss it from this standpoint. TIIK PKINCII'AL APV.\NTAGEvS of tho farnt separator to the patrons of the creamery are increased value of skini milk, saving in cost of haul- ing the dairy lu-oducts. less expense in making tip the butter, a smaller and less expen.^ive creamery plant, and a possibility of better butter product . I have named those advantages of the farm separator system in their value of importance, although there may be a great many exceptions to this euumertition. For instance, the lessening of the cost of deliver- ing the dairy products to ft)rae dis- tant creamery may be of greater value than the increased value of the skim milk, and there may be other corkditions that would change the order of the advantages of the farm separator. Users of the farm separator find one of th<;ir greatest ad'v'aTitages in having warm, .sweet, skim milk, fresh from tho cow for calves, pigs, and other fe<'(ling purpo.scs. With separator skim, milk there is ik) scouriwg. or other digestive trou- ibJes. with calves, nrtd this one point is not fully appreciated, for this trouble impairs the future uscfulne.ss of our cattle more than we think. Where the patrons deliver whole milk at the creamery, it will cost them on the average eight cents per hundred weight for hauling, With a herd of twent.v cows, giving one liundrod thousand pourKis annually, this means a cost of $80 to gct^t ileliveretl to the creamery. In de- livering cream, it usually costs about one-half a cent per pound of butter fat. which means om- hundred thou- sand pounds of milk testing four per cent., or four thousand pounds of butter fat. that tho cost will bo $20, a saving of $60, and very often the crooinory man hauls the cream himself free of charge, because he can reach out farmers from his fac- tory an<I haul a larger quantity of butter tat to his factory, in the form of ciViini, compared with what he could haul ill the form of uiilki, and thereb.v increase the business of his factory. The man who delivers croaui to I the creamery should receive more ; per pound fur butter fat than the : man who delivers whole milk, be- I cause he has saved the creomiM-y 'man the expense ol' separating the niilk, .which moans that he does not I iK-ed as laroe and exi>ensive a crcain- er.v, less high-priee<l nmchiner.v. loss help, ami le.ss exp<.'tise in running tho factory. As a rule, the man who dt livers crwim should receive about one cent per pound more fo^ his but- ter fat tiian tho man who delivers whole milk, because in connection with the less expense in the noking of the butter tho creamery man suf- fers none of the loss of fat in the skim milk, while there is always a loss of fat in the skim milk of the man who DELIVERS WHOLE MILK. The possibility of a better butter product is very evident from the fact that the dairyman has a less volume to care for, there is less filfch in the cream to hasten fermentation than there is in the whole milk, fer- mentations in the milk go on more slowly in rich cream than in whole milk, ami the cream do<?s not need to be healed at the factory, as does the whol.-' milk, which process can- not but hasneii fermentation. One of the objections made to the farm separator is the first cost, but when we stop to figure on the pro- lit there is in the investment, the cost is not worthy of much consid- eration, beside that they must be well made of the very best material and the best workmanship to run well and be durable at the high rate of speed at which they must run. Some creamerymen object to the introduction of tho farm separator at first and condonui them in a great many ways, but as a rule, they object to them because tiiey do not care to make preparations for handling the cream or it generally comes in in too small quantities at first. It necessitates dilTerent ap- paratus for testing ami more work for the comparatively small amount handled. Again some object to the use of the farm separator on tho claim that butter made from farm separators is not of as good quality as that made from whole milk. The cause of the poor butter is not in the use of the farm .separator system, but in the abuse in not taking proper care of the cream, not delivering the cream often enough, and not keeping the separator cleaned. Kight -here is where a great many shortsighted separator agents have done a lot of harm to the system b.v claiming for their respective machines that it is imnecessary to wash them more than once a day, and sometimes not so frequently. If lliore is any milk utensil that needs washing it i.s the bowl of the separator. It gathers filth from the milk and holds it and if the miik is run through this bowl after it has stood for twelve hours; it will undoubtedly cause bad flavor. FATtM NOTES. For successful seeding land umst be in good heart and line tilth; roots of perennials and sectls of an- nuals must be killixi. A nurse crop is better than weeds. Barley is the best of spring set^ding. Cheap tools are a delusion and a constant source of annoyance. Late- ly. I bought a few of those cheap gai-den trowels in one of our de- partment stores. Like all tools made for a cheap trade, they are cheap, cheaply made and poor. The blade slips out of the handle, and when you have once worked with such an implermont, or rather a poor imitation of an implement, you will be ready to throw it on the rubbish pile, arKi get a good substantial garden trowel, such as most see^ls- mon keep. You pay a good price, but you get a serviceable tool. A gocMl appearance add.s solid value to tho farm. Neat, well-paint- ed buildings, trim fences, good walks and drivewnys, handsome shade trees and a lawn add dollars to the market estimate, and the sense of worth is there, even it the owner has no present idea of turning it into cash. When a farm begins to hold up its head with <lue regard for ap- I'carances. the fanner is likel.v to do the same, and he takes n higher place in the regard of the commun- ity. An honest pride in the- farm- home is one of the most delightful rewards of broad gauge, successful fai-ming. A DIFFICULT PHOtSLF.M. Prof. McConnell, regaixlod as one of the great authorities in England on questions lelating to the brei.'d- iug of live stock, says of cross- brocnUng: "It has often and often l)Ocn found that the best animals of any kind arc ci-osses between two pure breeds. As illustrating this wo can refer to the "bluo-gi'ay' cat- tle, O.\ford-Hamj)shire lambs, an«l tho Yoi"kahire-llorkshire pigs. The pity of it is that we cannot make these valuable crosses into regular breeds, retaining all the good tjuali- ties of the first animal, combining the good q.ualitios of the two ori- ginal bretxls, but wheji we mate these crossi-s again the results, in nine cases out of ten, are wastrels, and we have to fall buck on the ori- ginal pure breoils to make gowl crosses once more. It is quite within tho possibilities of animal physiology, however, to make a new breedi â€" say. to mako tho 'blue-gra.v' cattle a fixed typt>, breeiling and coming trite within itsolf â€" â- but it Would re<iuire a millionaire's purse and a lifetime of work to (K) it. If a large num-her of cro.ssbreil ni«li>s, po.sfdbl.v out of the progi-ny about ten pel' cent, might be worth koeiv ing to breed from again. If this systnn of selection were adheixxl to genimtion after gom-ration. t;lie iyl>o would become fixed aral a new brec^l evolved which would retain its characteristics. llie majority of cattle hreods cross well with Short- horn, and of sheep breeds with tho BANK OF HA MILTON The thirty-tlilrd annual general meet^ | was voted chairman, and the general ing of the Bank of Hamilton was held manager, J TurnbuU, secretary, ut nnnn «„ « 1 I m • .1 """ presuluut, Hou. Mr. Gibson, aub- at noon on Monday, Jan. 16, at the , fitted the annual statement, explaining head offices of the bank, in Hamilton, that it wa-s (or six months only. It ilon. William Gibson, the president, I was as follows REPORT OF THE DIRECTORS. The Directois beu to submit their annual report to tho ahareholdera for the six months ended Nov. 30, 1904:â€" ' The balance at credit of proflt and loss loss account. May 31, ^. lyoi- WIS $ 67.080 95 Ihe profits (or the six months ended Nov. 30. 1904. after de- ducting charges of management and making provision for bad and doubtful debts, are 182 824 09 Premium leccivei! on new stock 4,505 00 From which has been declared: Dividend 5 per cent., payable Dec. 1, 1904 $111,733 76 Carriei to reserve fund from profits $ 95,495 00 Carried to reserve fund from premium on new stock as above . 4 505 00 $254,410 04 Allowance to ex-president autRbrized by shareholders (for six months) ."; 100,000 00 2,500 00 *" Balance of profit and loss carried fo The Directois desire to remind the at the last annual meeting, the date of changed to the third Monday in Janua The accounts herewith submitted th only, being from May 31 to Nov. 30. The Directors believe that the resul to tile shareholders. The Directo-s report, with sorrow, thur B. Lee, of Toronto. WM. GIBSON, President. LIABI To the public- Notes of bank in circulation Deposits bearing interest Deposits not bearing interest Amount reserved lor interest due dcposi Balances duo to other banks in Canada. Balances due to agents of the bank in Dividend No. 64. payable Dec. 1, 1904. Former dividends unpaid To the shareholders â€" Capital stock Reserved fund ." [.'.'""'.'. Amount reserved for rebate of interest rent bills discounted Balance of profits carried forward 214,233 78 rward $ 40,176 28 shareliolders that, by resolution passed future annual general meetings was ry. erefore, embrace a period of six months ts will commend themselves favorably the death of their late colleague, Ar- Hamilton, Dec. 12, iy04, LlTlES. $15,097,401 70 3.fnH.2aO 55 tors .. .. 144.723 8V! ..$ 3,017,511 00 Great Britain 111,733 76 609 00 19,100,365 07 37.621 61 845,349 85 142.342 76 $22,143,390 29 on cur- ...$ 2.235.280 00 2,100,000 00 65.000 00 40,176 28 ASSETS. Gold and silver coin i Dominion Government notes Deposit with the Dominion Government as-^ se- curity for note circulation Notes of and cheques on other banks Balances due from other banks in Canada and the United States Canadian and British Government, municipal, railway and other serurities Loans at call, or short call, on negotiable se- curities _ 4,440.456 28 S26,553.846 57 414,660 29 1,880,223 00 110,000 00 1,067,805 43 1,219,851 70 3. 059. 010 42 1,568,142 36 Notes discounted and advances current Notes discounted, etc., overdue (estimated loss provided for) Bank premises, office furniture, safes, etc Real estate (other than bank premises), mortgages, etc Other assets not included under foregoing heads -« 9,319.693 20 ... 10,388,616 58 55.299 59 677,464 46 46.813 18 65,959 38 $20,553,846 57 J TURNBULL, Bank of Hamilton, Hamilton, Nov. 30. 1904. General Manager. Senator Gibson, in moving the adop- tion of tile report said: It is very gra- tifying to the Board of Directors, and 1 am sure it will bo to the sharehold- ers, tiiat in si.x months the assets of the bank ha\e increased nearly two million dollars, or, to be more exact, $1,840,000. It must indeed be gratify- ing to tliose gentlemen who have been connected with the institution from its inception, aiivl who are with us to- day, to see that our total assets have reached over $26,500,000 by this in- crease of $1,840,000. As you know, this has been what is called the lean half year. yut. notwithstanding that, we have been able to report a profit at the rate of 10 1-3 I'cr cent, per annum on tho capital stock 01 the bank in that time. If you look at the first page of the report you will see that we have carried to reserve over $^5,000. which together with the $5,000 premium on new stock, makes a total of $100,000 added to tlie rust. The addition to our reser\e leaves us, in rouiui figures, only $133,000 more to carry to that account to make our reserve equal to our total capital While this bank is not much given to prophes.viiig, I think 1 can safely say that by the next an- nual meeting wo will see our reserve and our capital the same. That will indeed be a proud position to have at- tained. (Applause.) It cannot be denied that in the gen- eral prosperity oi the countr.v we, as a bank, must a'lso expaiKl, and. while we are not rushipt^ into every new field, the directors are carefully considering every point and selecting such as they consider will prtive sound and perman- ent. We have had under consideration, and have purchased a new site in Toronto. We have invested in good property there and I am sure th.at tho shareholders will approve. In the pro- perty at tiie cornel of Spadina Avenue and ' King Street we have an exc -llent iiivestniont and a gooti class of ten- ants. Wo also purcnased property in tlie electrical city of Niagara Falls, to meet the increasing demands 01 our business there. whi»-'h realizes handsome- ly on the inve^tineiit, " In the now districts of tho North- west we are pursuing the same care- ful policy in making extensions from lime to tiiae. and our investments in bank preniis'is there have resulted en- tirely satisfactory to the board. Since our lii.'^t meeting, indeed, short- l.v after we last met here, wo lost one of our directors. A. B. Lee. Toronto, and our tjoard felt that the importance of having a representative in that im- portant city shoMid not be overlooked. Tl;e members of the board and the shareholders ur" to be congratulated upou tlie man whose services we were able to secure. Mr. G. C. Dalton. a goiulcinan who has made a success of his own business, ami who. 1 am sure. will be approved of at this annual meeting 1 regret, also, that our friend and fellow-director, Cyrus Birge, met with a serious loss in "the deatn of his wife, and it is due to him that the cause of his absence should be mentioned at this meeting and our sympathy e.x- tended to him. I need not speak of the loyalty ol tho staff and general manager, for th« general manager is as loyal to them as the.v are to him. and both are at all times loyal to the bank. I can assure you with great satisfaction that tini greatest harmony exists :between the board, the general manager and th« staff. For the si.x months since our last meeting the bank ha.s paid a dividend at the rate of ten per cent, per an- num, and I am sure that everyone will be satisfied with the half year's results. Mr, Gibson concluded by moving, seconded by Mr John Proctor. th« adoption ol the report, which was car- ried. Moved' by Mr Hendrie, seconded bv Mr, F, W. Gates: -That the thanks o'l this meeting b.i given to the Presi- dent and directors, for their services during the past half year." Botli mover and seconder spoke in congratulatory terms in presenting th« resolutions, and the chairman called upon Col, .1. .S. llendrie to reply on be- half of the board. As the youngest member of the boanl. he was much pleased to reply to the resolution, par- ticularly as it, was moved and second- ed by two of the oldest gentlemen present, aiul two of the original stock- holders. He could not add much to what had been said except a few words in regar<! to securities. He had submitted the American securities to a very high authorit.v, and tin? report which he had received upon them was most satisfactory. It was to the effect that better securities could not bo helil. ^Ir. Adam Brown moved, seconded by Mr. John A. Bruce: â- Thai the thanks of this meeting bo given to the general manager. inspectors, agents and other officers of the liunk. for the efficient performances of their respective duties." Tlie resolution was unanimously adopted, and Mr. Turnbull reiilied. On motion of Afr. Wm. Hendrie. sec- onded t).v Mr. F. W. Gates, and carried, the president wii.s asked to cast one ballot for the Board of Directors and the following .^lij-e licclared elected: Messrs. Hon Wtpi' GihsoJi, John Proc- tor. John S. HcnilriS Jf.P.P.: George Uutheriord, J: 'WirnbifU, ,C. A. Birga and C C. DiiItou< At a sulisequent meeting of the di- rectors, Hon. Will. tlibson was re- elected president and Mr. J. Turnbull vice-president. llown or Leic'ster, but this is be- eau.se theso have been longest de- vplopi-xl liv .selection, breoiling, keep- ing a rov:ister of pedigrees, etc.. so that their '|»ropotency' has boon strengthened as against the less-di>- velopo<l breeds. Hearing in mind that it lias taken from fifty to one hundrcft riid twenty years to bring some of .i'ir present broods to their present state, we get an idea of what it wotild mean to bring a rro.s9-bi-ed tip. to tho some stage." FORTUN't/.S LAr>T>RR. MItvti up Fortune's ladder. Full of life you climb, Steft<Hly and surol.v. One rung at a lime. Hioping that you"ll some day • At the top appt-ar. Let nw softly whis(pt<r .lust this 111 your ear; Do not wildly scranililo. With expanrloti lim.s. 0*1 your frionds. and fancy Tlioy are ladiler-rungs. WHAT UEC(>MF,S OF PINS? Hy a series' 0/ experiments con- ducted in his back garden, a gontlo- man has discoveivd the answer to the conundrum. "What becomes of pins''' He has found that pins are re!jolvi-d into dust. Ifiiirpius. which he watched for 1.5-1 days, disappear- ed by rusting awa.v at the end of that time, llright pins tot>k nearly eighteen iiion'h.s to (lisnppt-nr; pol- i.shed sVvl needles neorlv two ami a half years, brass pins had but little endurance; steel p^^ns at the oiid of fifteen months had nearly gone, while their wooden holders wer^; still intact. Ill China there are vast areas of gradon soil t.hat have grown crops for S.OfJO to COtiO yonvs ami support swarming millions of peopl.-. 'liiese lands are surprisingly fort ilo, after thousands of years of service. and to-da.v they nr«» producing crops amazing to farmers accus1oine<l to the take-all ond give-nothing me- thods that prevail in soiue ••ountries. «1