MONTREAL ,TORONTO,HAMILTON
LONOON,.WINNIPEG, REGINA
CALGARY, VANCOUVER

ARTHUR YOUNG ,CLARKSON ,GORDON & CO
ACCOUNTANTS AND AUDITORS
OFFICES IN PRINCIPAL CITIES OF U.S.A

Cie Sy Y oe

GB A,
Suppepod & Lecountarls
1S WELLINGTON STREET WEST

Zen y

CANADA

AUDITORS! REPORT

To the Shareholders of
Cassiar Asbestos Corporation Limited:

We have examined the balance sheet of Cassiar Asbestos Corporation
Limited as at September 30, 1955 and the statements of operations and earned
surplus for the year-ended September 30, 1955 and have obtained all the information
and explanations we have required. Our examination included a general review of
the accounting procedures and such tests of accounting records and other supporting
evidence as we considered necessary in the circumstances.e

In our opinion the accompanying oalance sheet and statements of
operations and earned surplus are properly drawn up so as to exhibit a true and
correct view of the state of affairs of the company as at September 30, 1955
and the results of its operations for the year ended on;that date, according to

the best of our information and the explanations given to us and as shown by the

Toronto, Canada,

December 16, 1955 Chartered Accountants,

books of the company,

Pace Five