SEPTEMBER 24. 1934

Prices

Ease _ Montreal Stock A Market

i i YES TERDA

Up On

(GP. By Guardian's Special Wire)

MONTREAL» Sept. ZIi-Prices on the Montreal Stock Exchange tend- ed a little easier after displaying a steady trend in the first hour of trading in Saturday's abbreviatedi session.‘ Dullness and narrow flue-Y tuations reflected a low ebb or public interest.

Bank stocks were much quieter, after their active and buoyant per- formance Friday. Bank of Com- merce, the only one to be traded in board lots, lost two paints at 158 in contrast to its six point ad- vance of the pi‘8Vi0ll5 session.

International nickel eased 1-8 at 24 and Brazilian Traction barely held steady at 10, being traded in

at 10 7-8 during a good part o1 the short trading period. Holllnger declined 15 cents at 21.00 although it was steady during a. part o1 the

session. Fractional losses were

Canadian Industrial and oockshutt Plow.

Alcohol

Massey Harris was up 1-8 at 3 7-

while Alcohol "B" and steel

6i’.

Canada Cement at 6 1-4 was un- changed as were B. C. Power “B", Canada Northern Power, McColl Frontenac, National Breweries, Do- and Coal "B", Char-

mlnion St I les Gurd and Gypsum Lime.

Sales 4,064 shares; bonds $2,250.

Minor Cains In

On New York Exchange

Stocks

i

(By Frederick Gardner) (Associated Press Financial Writer] (AP. By Guardian's Special Wirci

NEW YORK, Sept. 23—Whiie fl- nnncial markets seemed i0 be an- imated by greater hopc, the pace of recovery in stocks slowed down almost to a standstill at the week- end Saturday.

Share trading ebbcd as the ral- ly tapered off. but rather active buying of corporate bonds moved prices forward in the investment list for the fourth consecutive ses- slop.

Content with the strong recovery 1n security markets during the week, traders withdrew to the sidelines to see what the new week would bring fosih in the way of business. labor and political devel- opments. Speculation marked time in commodities as well as stocks and most active staples remained in a steady range. Grains were nar- row, wheat finlshing about un- changed. A setback in cotton dropped prices 65 to ao cents a bale.

Minor gains were the rule in stocks. The Standard Sta.istics Co. average for 90 selected sisues. at 71.2, up 1-l0th of n, point, was higher for the fifth consecutive session. Turnover decreased to 238,- 510 shares compared with 344,670 last Saturday.

The business picture was consid- ered too mixed to encourage a1- grcsslve speculative buying of equities for a resumption oi llle rc- covery movement. Hopes ior fur-

ther expansion

dications that consumer

fillup to activity. Fractional losses

tional Harvester, ced against small gains in J. I

Case, Allied Chemical. Distillers, Standard Oil of

Financial Experts In Conference

(FQP. By Guardian's Special Wire)

NEW YORK, Sept. 23—More than 100 financial exports and in- dustrial leaders, after confcrrinll i" utmost secrecy, have completed n financial credo which nitacks prac- tically every detail of the monet- ury program of the Rocmvelt ad- ministration, according to the Herald Tribune.

Meeting Sept, 12. 13 and 14 at the Lido Country Club on Long Is- land under the auspices of the American Management Associ- ation, the group heard addresses by banlrers and industrialists, then de- cided, according to the Tribune:

"That the continuance of a heavily unbalanced federal budget, combined with the inconvcrtlbilitv of United States money is probably the major factor in increaslna business Uncertainty; that the country can neither spend nor tax its way back to prosperity. and that a continued debasement of the dollar with the issuing of fiat money will threaten a collapse in business worse than anythinll "w

suffered by Canadian Bronze Preferred, "A"

0f Canada were also fractions high-

in business along seasonal lines rested mainly on in-i demand f0: goods was eating into supplies and the prospect that termination of the textile strike would give a

in American‘ Can, American Telephone, Interna-, Anaconda Cop- per, Montgomery ward and other issues of that calibre were balan-

Schenley New

Y’S STOCK and BOND QUOTATION

MARKET GiOSSIP

iii

(By Johnaton and Ward‘: lipcclul Wire)

MORNING MARKED LETTER

NEW YORK. N Y. Sept 22-53mm after the opening yesterday, the market begun a slow but persistent advance to close near the best levels 0i’ the day. The merchandising shares have been strong lately in to Well sustained retail buying. This is one of the moat encouraging as- pects of the current situation though until the heavy industries more llctivc real recovery la likely to be limited.

The houd market continued to im- ‘prove yesterday with the grade rails particularly strong. The market has now taken a second con- structive atup, Friday's mar-ks the second time the

8

market

than the downside following u period of stability The increase in volume

should he presented. Luldlrlw and Company.

SUMMARY

NEYV YORK. N Y, Sept H-Flre- stone Tire nnd Rubber Company de- clnrcrl regular quarterly dividend of 10 rcnts on common.

President Ilooacvr-lt expected to confer with Bernard .\i. Baruch at Hyde Pnrk this afternoon. Gleu Alden Coal Company declares cxtrll divldcnd of 25 cents and u quarterly dividend of 25 cents Them» urn the first dividends since Dec 21s‘ U31.

I American Snlcltlng and “Qflliilli: (‘olupzluy reduced prlcc of lead five points to 3 (i5 cents n pound.

liurerlu of Intcrlllil Revenue reports anlllll cigarette output ill August was 1,80

1 45.1 ugnlllst 1l,18il,333,777 in Allgl. 111 llnils cxcl-ullvcs approve consolid-

ation of the Amcrlcun Railway As'n unll Assfn of railway executives into the Amcniczln Assfln of railroads to llcul authoritatively with the matter of interest to the roads.

Ilcii-hahnnk nnununces that its (l per rout interim dividend dlle Oct 1st would he omitted because runny shares hold nhroud would necessitate

response

become

second

udvnuce

has broken out on the upside rather

rllso was fnvoruhle. 'l‘hua_ on the funlhold in the market. "H! ‘M11101! "15! hold! flbflv‘! Dre- The peak in liquor sales are reach- vlclw lows. a bllylnlz ovnvrtlwlty ed in the last month of the yenr and

THE UHAKLUTFETOWN GUARDIAN

‘foreign exchang: which ll being heldi in Germany to protect the market. _ i

High Low lialt Up J0 Ind 91.34 80.66 91.10 1.75 20 Raill . .53 34.74 36.39 .08 20 Util 19 76 10.21 10,06 .44 40 Bonds 91.48 .32

Dow Jones. FINANCIAL sirnvlcn saxa

MONTREAL, Que, Sept. ‘IQ-The oaslneas in Canada Maltlng the past day or two is duo to the rsport pub- lished that a new malilng company of one million bushel capacity ls to be built in Toronto to compete with Canada liialting. The information in thi; connection. however_ is vel-y vague alld no one appears to know exactly who the interests are behind this venture. The new company, should it ever luatoriaiize, would have a stiff fight ahead of it to get a

the next two months are atockilir on periods for the many liquor commis- sions both here and in the U. As a result of this it would not be sur- prising to see the majority of (hr-so stocks at hlghell levels around the middle of December than prevail at the present levcl. The nnnual slate- rnenta of the Canadian Alcohol (Tom- pnnlca will be made public during the next few months. For a short term hold. those socllrltlcs up ear to offer some speculative attract on.

.. .. _, ,.Fiunncial Service.

BANON SAYS

t

RIONTREAL. Que, Sept ZZ-The lid- vnllcc storied in the current week gives signs of being sustained. l auggcst thnt the following stocks he milled to those nlrcndy recommended, Electric Bond and Share. Scars Roe- buck. Am Waterworks, Looyw, llnllio pfrl B

On the whole, the gold stocks clos- cd moderately irregular, Teck Hughes lnnde a new low. McIntyre rallied a little further while buying Dnme ox- pnndcd lis the price advanced. Brn- lornc showed an improvement its action.

On reactions huy moderately-Brn- lorne nnd Hollinger.

in

(Quotation: rnlalrcd by J Itoek Exchange and llontru Market. 156 Richmond loltetown)

Opened

Air Red Allied lfhcm Allis Chaim

Loco ,. . Pow Light liud Smelt ltfg

Till Tel ... Anaconda Cop Alchison . Auburn lillld l. Bait Uhlo Barn A Bcllll Both Iiriggs

Add‘ rife]. '1'..- ou _ r um ;\il.‘

Ucl Corp tfolu Sou . Cong Xlliru ,

(‘lit-s Ulllu (‘lllc North .. Chrysler “at. Polulllb (‘zlrh

(‘ollllu (ills Elec- i'olll Sui . . Fun tins Cull Oil (You (‘all (‘crn l'rol llel lilld

lalcc 1'0 w Illgh L Erie . First .\'

l‘ Slur-cs‘ -

N. Y. Stock Exchange

nnd Ward llemhera of the Montreal

Street

PAGE r1 va

ch14.“

l Curl

Char»

Lad

Jersey Consolidated Gas and New Frcclluvt '1'“

York ‘CEHUBL Rails and Utilities trnnsfer of conalrlcrnhic much-needed Barron. léfighn“

wore inclined toward firmness. m.“ p10,,“

Transportation experts studied Q Gerll Mot

formation of a central organiza- t t 1 9° l1 9"" --

tiOn by the railroads in the belief ' 0c iifiidlrifii ."““

that it would play an important lull Nll-ke

role in forthcoming efforts to work lllllll Tall

out a solution for some pressing (Guru-ling m...) k°,,.‘{.’f,“,‘u;“,.“

rail problems, including consolida- TORONTO. Sent Zi-The Week CIM- Konnr-c mp

lm- - ' ahcann=nrrncn=MMr~

Automobile output, statistics and pendulum mun-ma by Johndal prgfninng "m; 810mm, do“, ma: fiflfgzjfllfrf'r"l"'fln"rm;-

accounts of slackening demand for and Ward mcmhebril :1 time filings: llnller the mil: million mark, or the jmmk Truck

cars, in conformity with seasonal fif°"mf“l‘"m:f;nd "géfm ghmmw w)?“ B51521?‘ 2:1‘; Tmioljl-lglcizlnaiaowtig Miss Kiln .

i-Tends. COUtTHWd with TBPUTiS 01' I town) base metals were again inclined to £31K {Li}?! '

brisker consumer demands for llinnrz-l. The slivclr lender! lilo drlft- 5-,.“ ti“, N

lighter goods. Cram's reports cstl- ‘ii “‘ °‘"‘ '""'°“' 7- NM! llnlry Prod

I e . . ~ . .

mated ““i°"‘_°b“° °utPEli5 this Week lioll Toll 110 12o Ibiza;titrriiiiigni-gfwfiealooa-zsn-liill 11.113," Lith‘ "

at 38.329 llflltS, a decline Of 4.631 Bl-nz '1‘ L Pow . l1 10V.‘ and closed at the bottom. of! 8 cents New York Con. i‘

from the preceding week and 9.320 l: (Ylljvw i; a - 229 min“ Lakem s?» droaped acwcinlr .\:orth Amt-r

below the total 3 year "30- ilrsck nSYik 1:11,: ilnrgrffliges Aogpvfirof thgngeconzllfr; iltlfifihulgfl"

‘V127’. Stocks dld.'—- (‘an (‘or Com 8 5'7’. gold group managed to nulh higher pm" ‘Ralf g5 l Purl ("cl Com 1d Iii including B R X, Boottc Gunnllr l ‘ T FR v t‘ v lil/ (‘old Northern Cunad ‘u liitl 1"" s" N ‘T Advances 254 45s 1:3‘ Afr: 8V: ionmgc. we“ up 5 ma“. any m any? {in}: mt . . Declines 109 57 (‘rm Ind Al B 7% Pickle Crow, Payulaste‘: Grnndoro, 1;:.||[::u‘(l-n€3 Unchanged 13g 114 (jun l'.'\c _, 13 linrry Hollingen nnd Loniaruln all “H, fro“ Sh.“ "Mal 1551*“ -- "93 B" l-Zikiiiiinpm" m F!“‘iiiaéwi’..fi°"iivlii‘ffa §§°'“'§iii<'i..3i §"'”"“" ‘Wm’ r 1- ,- - ' - - ~ -. - - v V‘ ‘bfl mm Brmziyf I 30% M“ GUM “fled they,“ a can“ to gll-lllvlll-lsnrigoclgrcl ~91 I‘ E llnl :1 lgiltlng cllzlncc to will Simply by pulling asluc savings lll country has ever known." lmm Steel Coal ll 3% lJ i" B illrlclolvllilof $1M lhflffi- Socouy Vnc " 9 . , _ , , To avert this disaster the com gfilf-IIIIQTPX (‘our s; TokoNTta-glzptnn w") snug}. m; . ills greatest racc—iilc earliest Life Insurance willcll will provide

fcrence urged the President to give Gypsnx“ 'ff_ 41,5 Stocks Clone jqflfnd‘ _ _ t - _ _

assurance there will be no furthcr Iloli (‘mid Mines . o A small .. lilac which starts the lnolllcnt he elltcrs for hrs conlplctc education.

,‘_ ,_ clue Oil. 19 qt y .. ' i

dcbascment of the montary stand- lfégif°lrnwl _ a M“ U“ -~ __ m. érffllli Otlll‘! lrl _

ard: that it will be the intention .\ic(‘oll FrFonl ‘Oi Ale-x ‘ nil-i... ‘“'i|l'i\.ol‘ ' ‘he business ‘mrli ' .

to stabilize the dollar as near to {iotntnPmv .. g,,,,|,.,,_.,k_,, fllcn, wllcthcr or not you arc llcro the old par as practicable; that pa- Qt ,"““‘l -- - M“ Tfhvrluoill _ _ , _ _

p0)‘ and silver money be again g,,“_,w‘*_'f"_“ f?" _ m,‘ AS139? ‘" It will bc a tough race, with illou- to silarc ills future lllllillllOllS. tllcro made convertible into gold, with all Sherwin lvu . ilytorm r131... _ _ _

restrictions on the private holding istocl (To (an 341,4 “gfrlalfllili {glam I sands of competitors. Anti tllc odds will be suiiiclcllt lllnncy guzlrlllllccd of gold removed; that all silver B Metals “mm Mmfl-lft-A- _ _ _

lc lslat-lon Passed by the recent ill: rm» mum (‘nrp __ are d"£lll15t "our llov, unless you scc to "lVC hlm the chance lle deserves.

g (‘omnlcrca 11g llohjll . I‘ t ' D ' ' D

Congress shall be repealed at the ‘Inmrpfll- _ i 0;“ l‘p“'li"n U"*QE“'I'H;'"I: illlll . _ _

next session, and that the so-called 5-0,.“ 590.1,, _ 7m liruloruo l. "HQ, ‘ ' - to 1t now that llc will lic tllorougilly . . . .

"inflation" m- wyhomnsl- act which llcynl m. lmmq , w S m,‘ 4 _ _ 'llllk lt ovcr wliil a Life lllillfllllfit! cvce the President Such bi°ad dis‘ ' Qfgfflifqllffl“ F" - traillcd-——tllut he will have every .

stationary powers m money m“. “_0-0m_$:tli) .60 . ‘as H, rcprcscnizlilvc llolv and gl-l t-lnnpil-te W's shill “i” be mpealed‘ i ' ‘ o oriunit ' t0 succeed . -