IMAGE EVALUATrON TEST TARGET (MT-S) 1.0 I.I 1.25 IIM lU U2 112.2 2.0 1.4 6" - 1.6 Sciences Corporation 23 WEST MAIN STREET WEBSTER, N.Y. 14580 (716) 872-4503 to W^.n ^ C/j CIHM/ICMH Microfiche Series. CIHIVI/ICMH Collection de microfiches. Canadian Institute for Historical Microreproductions / Institut Canadian de microreproductions historiques Technical and Bibliographic Notes/Notes techniques st bibliographiques The( to thi The Institute has attempted to obtain the best original copy available for filming. Features of this copy which may be bibliographicaliy unique, which may alter any of the images in the reproduction, or which may significantly change the usual method of filming, are checked below. □ Coloured covers/ Couverture de couleur □ Covers damaged/ Couverture endommagie □ Covers restored and/or laminated/ Couverture restaurie et/ou pellicul^e □ Cover title missing/ Le titre de couverture manque □ Coloured maps/ Cartes g^ographiques en couleur □ Coloured ink (i.e. other than blue or black)/ Encre de couleur (i.e. auire que bleua ou noire) □ Coloured plates and/or illustrations/ Planches et/ou illustrations an couleur D D D Bound with other material/ Relii avac d'autres documents Tight binding may cause shadows or distortion along interior margin/ La re liure serree peut causer de I'ombre ou de la distorsion le long d^ la marge intdrieure Blank leaves added during restoration may appear within the text. Whenever possible, these have been omitted from filming/ II se peut que certaines pages blanches ajouties lors d'une restauration apparaissent dans le texte, mais, lorsque cela itait possible, ces pages n'ont pas H6 film^es. L'Institut a microfilm^ le meilleur exemplaire qu'il lui a eti possible de se procurer. Les details de cet exemplaire qui sont peut-^tre uniques du point de vue bibliographique, qui peuvent modifier une image reproduite, ou qui peuvent exiger une modification dans la mithode normale de filmage sont indiquAs ci-dessous. Q Coloured pages/ Pages de couleur n D D n n Pages damaged/ Pages endommagies Pages restored and/or laminated/ Pages restauries et/ou pelliculdes Pages discoloured, stained or foxed/ Pages ddcolories, tacheties ou piquees Pages detached/ Pages ddtachees Showthrough/ Transparence Quality of print varies/ Quality indgale de ('impression Thei possi of th filmii Origi begii theli sion, othe first sion, or ill r~n Includes supplementary material/ Comprend du materiel supplementaire Only edition available/ Seule Edition disponible Pages wholly or partially obscured by errata slips, tissues, etc., have been refilmed to ensure the best possible image/ Les pages totalement ou partiellement obscurcies par un feuillet d'errata, une pelure, etc., cnt 6t6 filmies d nouveau de facon a obtenir la meilleure image possible. The shall TINl whk Map diffe entii begi right requ met! r~7\ Additional comments:/ Ivl Commentaires supplimentaires; [Printed ephemeral 1 sheet (verso blank) This item is filmed at the reduction ratio checked below/ Ce document est filmd au taux de reduction indiqu^ ci-dessous. 10X 14X 18X 22X 26X 30X y 12X 16X 20X 24X 28X 32X The copy filmed here hes been reproduced thenks to the generosity of: Douglas Library Queen's University L'exempiaire filmA f ut reproduit grAce A la d^nArosltA de: Douglas Library Queen's University The images appearing here are the best qusllity possible considering the condition and legibility of the original copy and in keeping with the filming contract specifications. Original copies in printed paper covers are filmed beginning with the front cover and ending on the last page with a printed or illustrated impres- sion, or the back cover when appropriate. All other original copies are filmed beginning on the first page with a printed or illustrated impres- sion, and ending on the last page with a printed or illustrated Impression. The last recorded frame on each microfiche shall contain the symbol — ♦► (maaning "CON- TINUED"), or the symbol V (meaning "END"), whichever applies. Maps, plates, charts, etc., may be filmed at different reduction ratios. Those too large to be entirely included in one exposure are filmed beginning in the upper left hand corner, left to right and top to bottom, as many frames as required. The following diagrams illustrate the method: Les images suivantes ont 6t* ireproduites avec le plus grand Sv'>in, compte tenu de la condition et de la nettet6 de l'exempiaire film6, et en conformity avec ies c&nditions du contrat de filmage. Les exemplaires originaux dont la couverture en papier est ImprimAe sent filmte en commenpant par ie premier plat et en terminant soit par la derniire page qui comporte une smpreinte d'impression ou d'illustration, soit par le second plat, selon le c^s. Tous les autres exemplaires originaux sont filmte en commenpant par la premiere page qui comporte une empreinte d'impression ou d'illustration et en terminant par la dernlAre page qui comporte une telle empreinte. Un des symboles suivants apparaitra sur la dernidre image de cheque microfiche, selon le cas: le symbols —► signifie "A SUIVRE", le symbole V signifie "FIN ". Les cartes, planches, tableaux, etc., peuvent dtre film6s A des taux de reduction diff6rents. Lorsque le document est trop grand pour dtre reproduit en un seul cliche, il est film6 i partir de I'angle sup6rieur gauche, de gauche d droite, et de haut en bas, en prenant le nombre d'images nicessaire. Les diagrammes suivants illustrent la mithode. 1 2 3 1 2 3 4 5 6 Circular. OTommrtnal l^anfe of (iTanatia, Notice is ht'rebj jriven tliat a SpocMul Cleiiei'ul Mcetiiifj; oftlie Sluirdioldt'i'B ttt'tlie Coininerciul JBuuk of Carmda will he held at tin- Hank in Kin;;ston, on Wednesday the Sixth ent8 to the Act of Incorporati')n. By order of the B(»ard, C. S. ROSS, CAtiHiKR. The following Report Avas submitted this day, received, adopted, and ordered to be, transmitted to the Shareholders:— ■ '■ ' " ■ ' r^ ' «;...' . ' •■• ^ '";'■ "-f-i' "" KiN(;AVoNM7THi8MVT«liik!f;i^<;V. " "" niThe undtiiwgiied having, at the Annual Meeting' in Ju*te l&8t,"befetifeI«Jtie(liii!» DSrecKttii'iSf WtJCf^^nVftt^clill^l^lftkk with a special view to cmusideVing its position and the value of it«'asSdt*,'Mva Hjfi-d^rf tWltln^ foli'o\WWg' rte'fVotP':-^''' "' ! ' ' ' ' '■ i Tliej' have icarefully examined the various iteniH forming the aKsetn of the Bank, and have wen rigid in their ■ tima- tion ,0l their- value. ■■■''1 ■■' '■ '■ '■I'^i vp-. H''*''- •..'■■ " ■'>>'. • ■ • >■!>' ■ Little difficulty has been experienced in arriving at a cOnclUHioii with i^e^sitd' ito anyitieift 'fci'fc'e^t that of the amount owing by the Detroit and Milwaukee Railroad. Thei-e is no iJeaSoit to drttibt 'thiit ifhi.s Iliiilrrtad' tft •dbi'iig' a; prbftperous tilid an annually increasing bn,siness. It is well and substantially built and e(iuipped, it passes through a fertile countrv, and connects with large and important termini. Tlie payment of this del)t. which amounts to about $1.^00,(K)(). is spread over nineteen years (though it may be paid at an earlier date), and it is payable in American curi'Sncy. Owing to this the uu- fteraigried have felt at a loss to put a value on it, as the Bonds are not at present mai-ketable, but. though no payments have yet been made, either of prmcipal or interest, there seems but little reason to doubt that the whole will ultimately be realized. This debt carries seven per cent interest, but does not at present afford an available capital on which the Bawk (lan transact its business. The amount of ascertained losses incurred by the Bank to this date is about |l,l(M),(KHt, and the undersigned do not ap- prehend any mate'rial additional loss from the discounted paper now running. The Bank is doijig a prosperous and profitable businew. Its connections are of great value, and under proper manage- ment there is no reason why it should not attain as good results as any simihir institution in the Province. In view, however, of the losses already made, and the possibility of a loss resulting from the large debt above alluded to, the undersigned recommend a reduction oi' the value of tlie capital shares from $100 to $(1() each. This reduction would, in their opinion, cover the whole amount of the losses of the Bank, and in the event of a full realizatiim of the Detroit and Milwaukee debt leave a considerable contingent fund. It would ensure regular dividend.s, and enable the Bank to carry on its business with security. HU«H ALLAN, L. H. HOLTON, ALEX. 3IUR1IIS. To TiiK Pkksiok.nt (II- Tin: \ CoMMKin lAi. Bank ok C.\n.\i).\. )