10 MAY 1935, Page 62


One of the many interesting topics touched upon by Mr. P. , Ashley Cooper at the annual general court of the Hudson's Bay Company was the economic recovery of Canada from the past years of .depression. The Hudson's Bay Chairman last year paid his customary visit to the Dominion, and in that part , of his speech dealing with economic questions he remarked . that the farming community in Canada is making a real effort to liquidate its debts, and that the Company was in conse- quence reaping. the benefit of past concessions and considera- tion. With conditions in Canada improving, the results of the Company showed a further appreciable recovery in 1934, although, as Mr. Ashley Cooper reminded shareholders, there are still many difficulties to face. Notwithstanding trade restrictions in countries which are the customers of the Hud- son's Bay Company, the fur department realized a profit, and the land department provided a surplus last year after several years of losses. But perhaps the best news for shareholders was the statement that improving economic conditions in the Dominion have brought better business to the retail stores side of the Company's activities. The Chairman stated that, after a period of retrenchment and economies, the time had come for a cautious but steady advance in this department. Providing that Canada maintains her present rate of recovery, the position as disclosed in the latest Hudson's Bay report certainly appears to justify Mr. Cooper's hope of further pro- gress in the Company's financial results.