Notwithstanding this effort on the part of the banks, current loans are higher by three hundred million dollars than they were a year ago. If a conservative policy had not been adopted, the increase in loans would have been considerably greater; as it stands, the increase is balanced by a corresponding decrease in holdings of Government securities, acquired originally in connection with the Dominion and Imperial Governments' war financing, and now redeemed. ========== BE A BOOSTER By J. H. Pearin _Boost, and the trade boosts with you, Knock and you shame yourself. Everyone gets sick of the one who kicks And wishes he'd kick himself._ _Boost, when the day is cloudless, Boost through the cold and rain. If you once take a tumble, don't lie there and grumble, But bob up and boost again._ _Boost for your comrades' advancement, Boosting makes toiling sublime, For the fellow whose found on the very top round Is a booster every time._ Hudson's Bay Company INCORPORATED 1670 [Illustration: PRO PELLE CUTEM] For Service Value, H.B.C. "Point" Blankets are Unparalleled OBTAINABLE at all Department Stores and Posts of the Company throughout Canada. _STANDARD PRICES:_ _4 point Size--72 x 90 in., $25.00 pr._ _3½ point Size--63 x 80 in., $22.50 pr._ _3 point Size--61 x 74 in., $20.00 pr._ NONE GENUINE WITHOUT THE SEAL OF QUALITY. [Illustration: THE "LITTLE TRAPPER" WEARS A WARM COAT MADE FROM A 4-POINT BLANKET] * * * * * Transcriber's Notes: Punctuation errors repaired. Pages seven and eight in the article titled "Explorations by Adventurers of the H.B.C." has two paragraphs with opening quoation marks without closing them. As no obvious conclusion could be reached, this was retained as printed. Pages 4 and 12, the article titled "H.B.C. Pioneer Steamer Ruled West Coast Trade 20 Years" had a final paragraph that was split across these two pages. It was brought from page 12 to page 4. Page 13, "to" changed to "the" (reached the landing place) End of the Project Gutenberg EBook of The Beaver, Vol. 1, February, 1921, No. 5, by Hudson's Bay Company