IMAGE EVALUATION 
 TEST TARGET (MT-3) 
 
 1.0 
 
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 IS US, 12.0 
 
 111 
 
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 Hiotographic 
 
 Sciences 
 
 Corporation 
 
 23 WEST MAIN STREET 
 
 WEBSTER, N.Y. 14580 
 
 (716) (72-4503 
 
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 CiHM/ICMH 
 
 Microfiche 
 
 Series. 
 
 CIHIVI/iCMH 
 Collection de 
 microfiches. 
 
 Canadian Institute for Historical Microreproductions / Institut Canadian de microreproductions historiques 
 
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Technical and Bibliographic Notaa/Notaa tochniquM at bibliographiquaa 
 
 Tha Instituta has attamptad to obtain tha baat 
 original copy availabia for filnting. Paaturaa of thia 
 copy which may ba bibliographieaiiy unlqua. 
 which may altar any of tha imagaa in tha 
 raproduction, or which may significantly ehanga 
 tha usual mathod of filming, ara chaekad balow. 
 
 L'Inatitut a microfilm* la maillaur axemplaire 
 qu'il lui a itA possibia da se procurer. Las details 
 da cat axamplaira qui sont paut-Atra uniquas du 
 point da vua bibliographiqua, qui pauvent modifier 
 una image reproduite, ou qui peuvent exiger une 
 modification dans la mAthoda normale de fllmage 
 sont indiquAa ci-dassous. 
 
 □ Coloured covers/ 
 Couvartura da eoulaur 
 
 r~| Covers damaged/ 
 
 D 
 
 D 
 D 
 
 D 
 
 Couverture endommagie 
 
 Covers restored and/or laminated/ 
 Couverture reataurAa et/ou pellicuiAe 
 
 ■#. . 
 
 r~n Cover title miasing/ 
 
 La titra de couverture manque 
 
 rn Coloured mapa/ 
 
 Cartea giographiquae en eouleur 
 
 □ Coloured ink (i.e. other than blue or black)/ 
 Encre de eouleur (i.e. autre que bleue ou noire) 
 
 I — I Coloured plataa and/or illuatrationa/ 
 
 Planchea et/ou illuatrationa en eouleur 
 
 Bound with other material/ 
 ReliA avac d'autres documents 
 
 Tight binding may cause shadows or distortion 
 along interior margin/ 
 
 La re liure serrie peut cauaar de I'ombre ou de la 
 diatoraion la tong da la marga IntAriaura 
 
 Blank leaves added during restoration may 
 appear within the text. Whenever possible, these 
 have been omitted from filming/ 
 II se peut que eertainae pagae blanchee aJoutAea 
 lore d'une reatauration apparaiaaant dana la taxte. 
 mala, lorsqua cela Atait poaaibla. ces pages n'ont 
 pea it* fiimAas. 
 
 □ Coloured pages/ 
 Pagae de eouleur 
 
 D 
 
 D 
 
 D 
 D 
 
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 Pages damaged/ 
 Pagea andommagias 
 
 Pages restored and/or laminated/ 
 Pages restaurAes et/ou pelliculies 
 
 Pages discoloured, stained or foxed/ 
 Pages dAcolories. tacheties ou piquies 
 
 Pages detached/ 
 Pages dAtachies 
 
 Showthrough/ 
 Transparence 
 
 Quelity of print varies/ 
 Qualit* inAgale de I'impression 
 
 Includes supplementary material/ 
 Comprend du metAriei supplimentaire 
 
 □ Only edition available/ 
 Seule Mition disponible 
 
 Pages wholly or partially obscured by errata 
 slips, tissues, etc., have been refiimnd to 
 ensure the best possible image/ 
 Les poges totalement ou partiellement 
 obscurcies par un feuillet d'errata. une pelure, 
 <itc., ont At* filmAes * nouveau de fa^on A 
 obtenir la meilleure image possible. 
 
 D 
 
 Additional comments:/ 
 Commentairea supplAmantairas; 
 
 This item is filmed at tha reduction retio checked below/ 
 
 Ce document est film* au taux da r*duction indiqu* ci-daasous. 
 
 10X 
 
 
 
 
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^ ': V'. •■■ 
 
 Th« copy filmed h«r« Hm lM«n r«produe«d thanks 
 to tho gonorotity of: 
 
 D.B.WeldonUbniry 
 : University of Wastam Ontario 
 (Regional Hittory Room) 
 
 Tho Imagos appoaring haro mt% tho boat quality 
 poaaibia conaidaring tha condition and lagibiiity 
 of tho original copy and in kaaping with tha 
 filming contract spacificationa. 
 
 Original copioa in printad papar eovors ara fiimad 
 beginning with tho front covor and anding on 
 tho laat paga with a printad or illuatratad impraa- 
 sion, or tho back covor whon appropriate. All 
 othor original copioa ara fiimad beginning on the 
 firat page with a printad or illuatratad improa« 
 sion. and anding on the laat page with a printed 
 or illuatratad impreeaion. 
 
 The laat recorded frame on eech microfiche 
 shall contain the symbol ^-^ (meaning "CON- 
 TINUED"), or the symbol ▼ (mooning "END"), 
 whichever appliea. 
 
 L'axemplaira fllmA f ut reproduit grice k la 
 g4n4roaitA da: 
 
 D. B. Weldon Library 
 University of Western Ontario ' 
 (Regional History Room) 
 
 Lea imagee suhrentee ont «t« reproduites avac la 
 plua granu soin, compto tenu do la condition at 
 da la nettot* do rexemplaire filmA. et en 
 conformitA avac lea conditiona du contrat da 
 fllmage. 
 
 Lee exempleirea originaux dont la couverture en 
 pepier eet imprim4e sent filmis en common^ant 
 par la premier plat at en terminant soit par la' 
 darnlAre pege qui comporte une empreinte 
 d'impreaaion ou d'illustration, soit par le second 
 plot, selon le caa. Tous lea autrea oxemplaires 
 origineux sont fiimAs en commen^ant par la 
 premiere page qui comporte une empreinte 
 dimpreaaion ou d'illustration et en terminant par 
 la darnlAro page qui comporte une telle 
 empreinte. 
 
 Un doe symbolea suivants apparaitra sur la 
 demMre imege do cheque microfiche, selon le 
 caa: la symbols «» signifie "A SUIVRE", le 
 symbole ▼ signifie "FIN". 
 
 Mepa, platee, charta, etc., may be filmed at 
 different reduction ratioa. Thoae too lerge to be 
 entirely included in one expoeure are filmed 
 beginning in the upper left hand comer, left to 
 right and top to bottom, aa many framea aa 
 required. The following diagrama illuatrate the 
 method: 
 
 Lea cartee, planches, tableaux, etc., peuvent Atre 
 filmie k dee taux da rMuction diffiranta. 
 Loraqua la document eat trop grand pour Atre 
 reproduit en un soul clichA, il est fiimA k psrtir 
 do I'angki sup4rieur gauche, do gauche k droite, 
 et do heut en bea, an prenant le nombre 
 d'imegea nAcesseire. Les diagrammes suivants 
 illustrant le m^thode. 
 
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cable addre88 
 "debenture" 
 
 TELEPHONE 
 844 
 
 •so Ci._^ ♦ ^ 
 
 OF CANADA. 
 
 HEAD OFFICES, 
 
 TORONTO 
 
 GENERAL TRUSTS COMPANY'S BUILDING, 
 COR. YONGE & COLBORNE STS. 
 
 AUTHORIZED CAPITAL. 
 
 2,000,000 
 
 N 
 
 DIRECTORS: 
 
 JOHN HOSKIN. Q.C.. L.L.D., President 
 
 President National Investnient Co. 
 
 B. E. WALKER. Vice-President 
 
 General Manager Canadian Bank of Commerce. 
 
 T. SUTHERLAND STAYNER, Chairman Bristol and W. of En^. L. & M. Co. 
 
 J.J. FOY, Q.C., Director General Trusts Company 
 
 ROBERT JAFPRAY, Director Imperial Bank 
 
 J. W. LANGMUIR, Manager General Trusts Company 
 
 ARTHUR B. LEE, Rice Lewis & Son, (Limited) 
 
 HON. C. F. FRASER, Q.C., Commissioner Public Works, Ontario 
 
 HON. A. M. ROSS, Late Provincial Treasurer 
 
 Solicitor : 
 J. D. EDGAR, Q C, - Edgar & Malone. 
 
 JOHN T. MOQRE, F.C.A.. - Manager, 
 
 /;a/a/x Qi2 Zi Csq^ 0(^ 
 
IMPORTANT ANNOUNCEMENT 
 
 TO 
 
 MUNICIPAL COUNCILS 
 
 ReJativ^o to Dobeiitiires. 
 
 Through skill in the management of Municipal Finances a very- 
 great saving can be ettVct<'tl to the credit of the Council and the 
 profit of the Taxpnyei". 
 
 So nuich depends upon the competent negotiation and placing 
 of Municipal Debentures that it is in the interest of every Munici- 
 pality, and will afford a great relief to Councils, to secure these 
 results. Municipalities having Debentures to dispose of —either Local 
 Improvement, School or General— can advant^igeously entrust their 
 negotiation to this Company. 
 
 Special attention will be given to Municipal Finances ; and at 
 the request of correspondents their cases will receive careful exam- 
 ination, and such suggestions will be made as should ensure beneficial 
 results. Where desired, the necessary directions and computations 
 involved will be supplied. 
 
The Hhape of a municipal debt haH much to do with the cost 
 of carrying the liabilities of a nmnicipality. Often conNiderable 
 gain would arista from re-construction or consolidation; thus securing 
 a properly systemized Debenture Debt, upon an economical basis, 
 and resulting in higher credit and a lower rate of interest. 
 
 The Company desires to place itself in connnunication with 
 cveiy Municipality in the Province, believing that great mutual 
 advantage will attend its efforts to extend the market, lower the 
 interest and advance the price of all classes of Debentures issued by 
 well-managed Municipalities. 
 
 Correspondence is invited from those desirous of (embracing 
 these advantages. The last financial statements of the Municipality, 
 together with all necessary supplementary information, should 
 accompany conuiiunications. 
 
 Address 
 
 JOHN T. MOORE, 
 
 Manager, 
 
 TORONTO.