Feb. 20, 1909
p.2 The schooner Bertha Kalkins, recently purchased by Capt. Simmons and Capt. Gould, is undergoing very extensive repairs.
p.7 Pith of the News - In the annual report of the department of railways and canals, M.J. Butler speaks strongly on the necessity of enlarging the Welland canal.
p.8 Contract Awarded - The contract for the submarine rock excavation and dredging for improving the middle channel in the River St. Lawrence, between Brockville and Kingston, has been awarded to Francis Gilbert, president and managing director of the Gilbert Bros. Engineering Co., Montreal, contractors for the Galops Rapid work in the St. Lawrence.
Day's Episodes - Capt. James Woolver, of Collingwood, will take charge of the schooner Neepawah this season.
Head Office, Kingston, Canada.
Capital $500,000, divided into 2500 shares of Common Stock of $100.00 each and 2500 shares of 7 % Cumulative Preferred Stock of $100.00 each.
President - W.G. Craig, Wholesale Grocer, Kingston.
Vice-Pres. - G.I. Mallory, Brockville
Directors - W.H. Comstock, Brockville.
Geo. Schmidt, Pembroke.
M.E. Galvin, Detroit.
Forwarders, Limited, was incorporated 12th December, 1908, by Letters Patent, from the Dominion of Canada, and was formed to take over and operate as a going concern the Elevator of Cereals Limited, situate on the West side of Gore Street, in the City of Kingston.
The promoters of Forwarders, Limited, realize that Kingston is the natural port for all lake boats with grain cargoes for Montreal, and have demonstrated that it is cheaper to transfer cargoes from the large Lake Carriers, through the elevators into tow barges, which proceed to Montreal and permit the large lake boats to return immediately to Fort William or Port Arthur, than for the Lake Carriers to continue to Montreal and return.
Statistics have proved that Montreal has captured the European grain trade, it now being more extensive than New York or any other port.
The Canadian route is the quickest and shortest for through transportation.
A cabinet minister stated recently in the House of Commons that he had been informed that if the Welland canal were deepened to carry vessels from Duluth to the foot of Lake Ontario, it would hold the trade from the West against the Erie canal for all time.
These conditions tend to make the Port of Kingston permanent and increasingly important.
Since the C.P.R. built its first elevator at Fort William each year has seen an increased capacity for storing and transferring grain.
In 1908 the storage capacity of Fort William and Port Arthur amounted to 18,852,700 bushels. There are three new elevators now being built and two more projected. By the end of 1909, there will be a capacity of 25,000,000 bushels at these ports, to receive, store and transfer the grain that will come from the west.
Last year there passed through Kingston and Prescott 30 per cent of all the grain that left Fort William and Port Arthur and this percentage will increase as facilities increase.
The wheat crop alone of 1908 was 106,853,000 bushels, although only about six per cent of arable land of Western Canada was under cultivation.
Lord Strathcona predicts that at the end of the century Canada will have a population of 80,000,000, and J.J. Hill has stated his belief that fifty years hence this country will have 50,000,000 people.
These few statements will serve to prove the enormous growth and development to be expected in the carrying trade of the St. Lawrence route.
The promoters of Forwarders, Limited believe in these possibilities. They have organized to take advantage of them and they invite others to join them.
The Mooers elevator has been secured in exchange for shares in Forwarders, Limited, but barges, tugs and so forth, are required, and additional cash capital must be secured.
Forwarders, Limited, have authorized an issue of 7 % Cumulative Preferred Stock to be sold to secure additional capital.
A prospectus of the Company and application forms will be mailed or delivered to any address.
Applications for stock must be accompanied with 10 % on account, the balance of the subscription to be paid in instalments of 30 % on thirty days notice.
Address all applications to
R.A. McLELLAND, Man. Dir.
Cereals, Limited, Kingston.