Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1912-01-03
A Big Bank Merger.

The Eastern Townships Bank of
Canada has. been absorbed by the
Canadian Bank of Commerce. The
sale of the former has been sane
toned by the directors and now only
awaits the approval of the stockhold-
ers.
BEFORE the merger was announced
the Bank of Commerce stock was SELL
ing at premium of about ITO per
cent. while E 7. stock had been sold
at premium Of little over 70 per
cent.
By the transfer E. T. shareholders
are to receive Commerce shares at
their par value, in even exchange for |
| e. T. stock at par. The effect of the
merger has been to increase the value |
of E. T. stock about forty per cent, |
the two stocks now being listed alike.
On the face Of it the Bank of Com
merce would appear to be virtually
making the stockholders of the E.. T.
Bank present Of about forty dollars
a share. Some are wondering why.
Unless there are E. T. assets not
shown on the statement, the only
standpoint is that the Bank of Com
merce was DESTROYS of invading sthe
territory served by the Eastern
Townships institution and regarded
the virtual stock premium offered the
cheapest way to do so. The deal is
the largest bank merger yet UNDER
taken in Canada.
The amalgamated institution will
have paid up capital of $4,000, 010,
a reserve of over S12,50O, 900. while
, its aggregate assets will exceed S210,-
700, 900.
The number of branches will be
over $50. The two banks were in d.
rect competition at only four points,
Vancouver. The Eastern Townships
, Bank is strong in this Provi nee. and
! the Bank of Commerce covers Ontario
the Maritime Provinces, the North
west. British Columbia and the Yu-
kon pretty thoroughly.
In circular to shareholders the
, President of the Eastern Townships
n Bank states Throughout the East
j. ern Townships the name of the East
Y ern Townships Bank would every
where be retained in conjunction with
that of the Canadian Bank of Com
S merce." But the copy of the agree
\ ment accompanying the circular does
{ not appear to contain this important
: provision.
q Orleans, one of chain of ten stores
find thmselves in peculiar condition
q on account Of the warm weather and
: backward season, they have a ire
> mendous overstock that must be dis
= posed of regardless of cost 1 is the
policy of all of these stores that each
h season must take care of it's own goods
9 and bear its own losses if necessary,
r because they realize to carry goods
: over means failure continually, first
9 because it ties up their moving, Sec
r ond, because the goods carried over
8 cost 6 per cent more each season
e while they actually depreciate 2 per
t cent, third because the question Of
v style is more important now. The
: public demands fresh new goods each
f season and they realize that if they
n did not supply this demand their store
would soon become a back number.
IS Therefore they do not hesitate to
" take loss under such circumstances.
n They promise the greatest bargains
ever known in the history of the
trade There is no question about the
reliability of the goods they carry moi
J., the high standing of the store. II
f will pay you to go long way to take
+. advantage of this unusual sale, be-
o. cause they are determined to close out
= their entire fall and winter stock.
r They have named prices that will
t surely name it fast in order to turr
: it into money and be ready for tbs
Y big shipment of spring goods tina,
h will soon be on the way.
s Remember the date Thursday, Jan
) 4, it is more important than anything
j. you can do as far as saving money i!
V concerned, to attend their sale on thu
J. opening day.
C $l00 REWARD, 800
l. Fhe readers OF this paper will be PLEASED t,
n learn ut there is at least dreaded dis
. ease that science as been abe to cure in al
= its stages, and that is catarrh. Halls Tatarrl
r Cure is the only positive cure now known /,
e the m edical fraternity atarrE being a con
: stitutional disease, requires q constitutional
y treatment. Halls Catarrh Cure is taken in
t Cernal!y. acting directly uoon the blood an
- mucous surfaces of the systen, thereby de
stroying the fou ndation of the disease. ar.
giving the patient strength by buildir q u
q the const tuition and assisting nature in do u
n its work. The pr prietor have so muc
~ falth in it's curat We p wers that they offe
- One Hundred Dollars for any case t lat