' JULY 2e, 1932

”

RDA Y’S 8T0}? KM) 301w)

* MARKET cosszr

__

Q

fl l . D1

ee . n sa y I t nsi t

SQ ; g1 . t 'he ll vi vi . d al t w . t

l!

no l M part were Féfuun. short covering in s I

s, notably United lhucl-Ilierred which lilmlifll

, gt, tomorrow's board meeting that the compnnys sec- financial statement might

showing than had

king, stocks enjoy- riret, Oils were con- industrials,

ma utilities moved forward in uner that bespoke speculative "m, l-‘urlher word of scattered s: improvement doubtless bol- tho. cane made out by profes-

nppflliflffl and the list moved p, scarcely nn interruption. standard statistics-Associated

wmflflliifi closed 2.3 points

_ 43.0, the beat ilcvel since |y_"l‘hus the market was at last

uni! ‘l

rain Market

(Cuunnllnn Press) n. .1 .

_\'ll'l-l(l_ .\lu‘u., Jilly 25—Unfnv-!

crop news from the west as alt of high tcluperuturc held [a market firm today and tho

range was 1,4; higher to un- .. An export. of 500,000 bushels '_ over the week-end was not ml - y large by tllo trade.

pr were 1,4; higher for u 5.1 unchanged for Oct. nt d iilil lunged f0 Dec. up, 50%|. Winnipeg mar ct: was wholly n] by developments in con- ‘ with trading on the Chicago ‘Exchange, in early‘ trading all llltllres umveri forivarrl 1,4; but

weakened towards the close, exporters had satisfied their

.. shipments of wheat and int week amounted to 8,104,000 or about 000,000 bushels less m wcck. North

ill There was a further reduc- la supplies on ocean passage to . l-‘iclds of wheat in the l- Basia are expected to exceed tic requirements. Demand for [rides of cash wheat was fairly and spreads were if to bet- lhaa Saturday, Interest in lower s was slight. cat delivered from prairie farms day turalled 120,000 bushels pared wilh 340,000 u yenr ngl). lr export demand for 4 C. W. y tenured the coarse grain mar- lntereat in other coarse gains slight,

, rnosn but; July 5.908;; Oct 58%; Dec. ti: July 301/413; Oct. 28%; Dec. y: July 37MB; Oct. 3195A; JliQA

able to mu .1 '- Trsnsscticns ‘calla. is est volume since Inns 2f

40.0. the

Ill I IO ll l . m phone, ‘Alllcd-ptglciellzlcii ‘ Biscuit l" '

Gs

bscco “.B"_ Ss W sq w _ worth, U. S. Tobsclcl», Alrlhellia 221.0 3 points. Union Pscl ic, which is comfortably covering fixed ‘s; in these dsys of Railroad deficits, was

"D .

in the oils, gains ranged from a frsctca to 3 ponts. The mnxmum rise appearing in Shell Union Prefer- red. Philips Petroleum, which turn. ed‘ decisively from red ink tn mug in the second quarter, wss active and firm, while Texss_ Consolidated and

vigor. What the Stolk Market (lllcll July '35.

0 Number of advances -. n Number of Declines Stock Unchanged . Total issues Traded

Montreal Market Silielights

(Canadian Press)

MONTifEAL_ July 25-—(By The Canadian Dressy-The Montreal Stock Exchange listings closed with a strung tone today supported by s rally in Wall Street. After a rather quiet morning period the Montreal market gave an active afternoon per- formnnco and registered gains from fractions to over a point in most is- sues at the close,

McColi Frontenac was a feature in the day's trading with a turnover much abovo the average for this stock. The oil stock opened at 0% and sold up during the day to close at 101,4, up m 7.. on shares both in Wtlll JUGS! and here received impetus to- day from the successful conclusion of the Peru oil conference.

Montreal power was an active lead- er, opening at 33 and selling up to iloso at 34 for s gain of 1%. inter- national Nickle was up 1,4 at 0% , Brnsilian traction gained 5t to 10%, and Shawlnigsn sold at 12% at the close_ up 55, Canadian Pacific again made a forward move and was up 1% at. l5.

B, C power A st 20 was up ‘A, consolidated smelters st 57% was V, higher and Dominion Bridge gained 44 to 15. Canada Cement common held unchanged at 5% while the pre ferrcd issue lost two points to 30 Canadian car was steady at 0_ and car preferred was up 1A to 15%

sale of Canadian converters, which has no}, appeared for some time, was made at 20, off 10. An- other rare performance to appear was

hi!

800.50 and the Conversion Loan at

uiggsttc and lgyers B, American T: e

Sshtn Fee made average advances of

the Standard developed considerable

_.i_ .____*,_ .._.__,.

(Canadian Press) ., ,. ....

MONTREAL. July ‘AS-Cattle re- velntl were 1,153 on the two Mont- real livestock markets today, three loads of good steers sold for 8.1.05 i0 $0 and one losd of Just fair steers cold for $4.50 and s fur small lots were weighed lip to butchers at a- "°"0ll $5 to $5.25 for steers ‘of medium quality with odd good cows at $1.25 to 83.50. The balance of the cattle was not sold at time of writ-

ll

Calf receipts 1.400. There was s ffllrly active demand for calves of medium and good quality_ common calves and grassers which made up

,3: the bulk of the offering were lower.

Calves soldaround 88.25 to H. Com- mon thin drinkers and grsssers were around S2 to and very thin krassers as low as $1.50. Choice csl- ves sold singly brought $5 to 55.25.

Quotations: Good and choice veal $4.25 to $5.50: common and . medium Si! to $4, Grassers $1.50 to $2.25.

Sheep receipts 2,385. iamhs were easier_ breedy lambs of good quality in straight cariots sold for 80. Top quality lambs sold for $0.25 tn $0.50 with an odd top up to $8.75 and culls out at s $2 out, real common lambs sold as low as $2.24, Lambs in mixed lots of fair average quality sold around $5.50. Sheep were from $1. to $2.

Quotationa- Ewes $1 in 82; lambs good $0 to $0.75: common S4 to $5.

llog receipts 0,018, there “'11s heavy offering of hogs including 13100 or more held over from the previous week, tho market was also weakened by very lilierni shipments from west- ern Canada direct to local packers, five hundred hogs or more were weighed to one buyer at $4.75 for hacnns and butchers with a premium of $1 per hog on selects and cuts of $2 to $3 per hog on heavier and ex. tra heavles, in addition, some 000 to 400 were weighed up in cariots and part cariots to butchers at prices ranging from $4.75 to $4.00, hut prices had not been firmly establish- ed at time of writing,

Sowa sold from 82.50 to $3, with odd" choice sows picked on) at $350.

Mining Stocks

wunadian Press) ’l'(...0.\"l‘t), July 25—(Minlng

close)—

Saies Stock High Low .1055 .1503 .80 .80

snlcs

5200 Acmo .

2000 Ajax

1000 Amity

5100 Arno

12000 Ale! ..

1000 B l-lolling ... 8000 Bidgcod .. 100 Bass Metals e

10000 Bunk Hill .- 425 B C Pioneer . 2500 Buff Csn . ..

‘l; ‘A .0254 .02 my, my, .08 .05 .0214, .0231, 5a m .04 nay. 3.00

llVES/iliilii» “mM A RliEiS

Iissimsn,

Montreal Stock Market Quotgrtiom

(Cllltllll! Press)

Stocks ‘High Low Close Abitlbi Pow Paper . 1 Bsthurst A .. .. ... Bell Telephone .. u. Brssilisn ... Build Pro A B C Power A .-

B C Power B ..- Csn Bronze Com (fsu (‘sr Fily .. Csn C l-i‘dy Pfd Can Cement ... Can Cement Pfd Csn H Elec Pfrl Can 1nd Alcohol Csn Nor Pow (‘or Csn Steam Pfd (Jan Pacific ... .. Cockshut Plow . Cons Nlll Smelt Dcm Bridge Dem Glass . Do Steel Coll Dom Textile . . .. Dom Textile Pfd Gen S Wares (iurda . Gypsum .. .. llnm Bridge liuli Gold Mines int Nickel .. .. ... Lake of the Woods Massey Harris McCall-Front Mont. Power .-

Nnt Breweries .. .. Mont Pow 3% deb . Nat Steel Car .. Ogilvie Milling . l‘ower Corp ... Quebec Power .. Shawinigan .. .. Steel of Cannri

S of (‘anadn Pfd ... Vinu Bis Com .. Winnl Electric

1 88 81% 83 ..., ... 104i 0% E50

2a 1 8% 3%

l-lfl 180

145 140 177 180 not quoted

145

Commerce . Montreal . . . Nova Scotla Royal . . .

Foreign Exchange

MONTREAL. July I'5—(By The Canadian Presn-British sad foreign exchange in relation to the Canadian dollar_ as compiled by the Royal

Bank of Canada, closed today as fcl-'

lows: Argentina Peso 0.2082. ustralin Pound 8.2008. ustria Schilling Not quoted . Belgium Belgn 0.1500. Brazil ililrels 0.0875. Bulgaria Lev Not quoted. China Hong Kong Dollars

noted.

Czechoslovakia Crown 0.0341, Denmark Krone 0220" Finland Finmark 0.0184. France Franc 0.0440. Germany lleichsmn s 0.2720. Great Britain Pound 4.0071.

not

a

5‘ tion and sympathetic interest the

ma WN GUARDIAN

I Watches Keenly Ottawa Meet

...__..,_,

NEW YORK. Jilly IL-(BY The Canadian Pressl-Tbe United 5""! ll In indispensable partner in the economic stability 9g u“ 3mm‘ 3010118. the National For- 01811 ‘Prado Council declsree 1n a statement on the impel-tunes pg the Imperlsl Economic Conference st Ottawa. The Council bells the Oi;- tawn meeting as a constructive op. wrtunitv to put mm mm the world and formulate measures in which nations ‘ the Empire mly later err-operate toward reviv- si of trade.

"The British Empire's greatest customer awaits with keen atten-

Oifihln: of the Imperial Economic Conference in Ottawa," the state. ment declares. "Second to Great. Britain herself as the world's grspg- at. importing nation, the industries of the Unit/ed States have spent approximately 35 cents within the British Empire out of every dollar's W°Y¢h 0! products purchased abroad in recent years. Our value as n. cus- tomer of the British Empire, as mefl-Wfvi by our imports during the last normal trading year, 1920, is approximately $1.00o,o0o,ooo, ex- vludins our $400,000,000 purchases from England herself. We thus ef- fected 25 percent. of our purchases abroad from the British Empire, ex- eluding Great Britain." The propor- tion, if not the value, remains the same in the depression years, the statement adds.

"In a wide variety of British pos- sessions dotted all over the world, we buy more than we sell. Such is the case, for instance, with lndia,

British Malaya, Ceylon, Jamaica, Trinidad, the Gold Coast, Nigeria, Aden, Newfoundland, and British Honduras. We sell more than we buy in the cases oi Australia, the' Union of South Africa, New Zea- iand, Canada, the Irish Free State, Great Britain herself, and several.‘ other sections of the Empire. But few Americans reaflze that in the British Empire ss a whole, except- ing Great Britain and Canada, the United States has sn unfavorable trade balance. In the case of Csn-

‘i? ‘i

PAGE NINE

TA TIONS

guo

N

Built on a sound Foundation

CAPITAIJ $12,000,000

R E S E RV B $24,000,000

TOTAL assnrs

O-VER

$265,000,000

AN

DeposiamlaTheBsukofNcvsSoods can rest assured that they are nie-

gnsmdcdbysmplcresotlrccswmeetsll

which

assunncrthutbe

l. . ‘And with this guarantee of stability the Bank also offers personal services

srearriedthrwghwithtbs "interests

are slwxys the Bank's interests.

Make The Bank of Nova Scotia your bank

ESTABLISHED 1852

KQ‘ NOVA SCQTIA

Carla! 112,000,000. Reserve Fund $24,000,000; T»! Resources szezoooooo

Charlottetown Branch:

L D. Hurray, Egg“;

c‘ n- “54”: Alst- Manage:

Sharp Blow For Cooperative

Marketing

WASHINGTON. July 25.—A sharp blow for cooperative mar- keting was struck yesterday by three cf President's Hoover's Cabi- net members in ordering suspen- sion of the Chicago Board of ‘rrade as a. contract market for 60 days for violation of the grain futures not.

Acting as a commission under the Futures Act, Secretary of

Agriculture Arthur M. l-lydc, At-_

torney General Mitchell and Sec- retary Lamont found the Board of Trade guilty of violating the law by refusing clearing house privi- leges to the Farmer's National

poration.

Members of the board insist the corporation is not a true cooper- ative and as a corporation has no right to membership on the clear- ing house since a rule of the board prevents correspondents from mem- bership.

“We'll appeal the matter clear up to the United States supreme court and win our contentions," said Carey. The board has 15 days in which to fyle its appeal and lawyers are prepared to fyle briefs.

To Consolidate Eastern Railroads

NEW YORK, July 25.—(A..P)— Wail Street informally placed its stamp of approval today on the United States interstate commerce ‘commission's decision to permit con-

‘solidation of the Eastern Railroadrthe

ranks of Canadian labor to par- ticipate in the ulSCllSSlO 1B at the Ottawa Imperial Economic Con- ference, the answer was ‘far from satisfactory."

“It would appear from the re- plies received from the Prime Min- istcr that the Government does not deem it advisable or necessary to make such oppointments—this de- spite the fact that the British Gov- ernment and other countricshave recognized the right". of labor to be represented. In view of the fact that the Conference is economic in character dealing with questions which may vitally affect the lives of workmen, and that any decisions may have a. material effect on their standards of living, your committee feel that the decision of the Gov- ernment is both short-sighted" and to some extent arbitrary. They would therefore recommend that Montreal Trades and Labor

8mm coporauon’ the largest co- into four principal trunkllne sys- Council express their condemnat-

operative body organized under the farm board's sponsorship. The suspensio would become effective August B, fifteen days after is- suance cf the order, but the oom-

..tems.

l Railroad securities generally turn- ed upward iln the stock exchange, bonds displaying considerablelto represent the council at the 48th

v .

‘some

ion of this attitude on the part of the Government." Three delegates have been chosen

annual convention of the Trades and.~"!i'abbr'"t3i7rlgr€fi‘."cf Canada, which opens at Hamilton on Sept.- e: ‘ADC!’ 12. They are John T. Fos-

i buoying, but due allowance was '-‘ma"ae for ‘the m: that actual con- summation of the consolidations may still be some distance in the future.-

1000 Calmong; {i500 Canusa . ... 1500 Castle-T;- . 505 Cniumnrlo .

(l0 Dome ... 1010 lwbrldga

There was little activity among the Banks. Royal Bank held steady at 1t5_ while Banque Cauudienno Na- tionale lost n. point to 127.

Total sales were 18,001 shares and

ada our favorable trade balance of ‘$00,000,000 n‘ fully offset by the expenditures of our tourists, by the payments by American companies

mission left the board a loop-hole by which it might avoid further controversy.

Greece Drachma Not quoted.

Holland Florla 0.4616.

Hungary Pengn Not quoted. 0.3085

'casu r-mcns t' it‘ 1 hard, 501,5; Np. ,1 nor. ‘oar. 51V,- No. 8 nor. 5095; Durmn

a ,'li'o.l

Miscellaneous

(C XTRl-Ll '1 Western

l. bakers

lb

c 16.

Llmllool m;

lilW

I “M10111; PI 87, ‘Plileamnhn ll s o

It 0t

V "i! Yorli Curls

' firsts

i lldlat

: A .'4 Duran: 40%. 30; No. 8 C. W.

ii N 5 C. 18K; Track 1101/, CHICAGO CAGO, July 25-Undcr a ac- lla curtailment. of speculative grain prices declined today n early advance, "lilac of buying for wheat was "l"! l" Dart to unscttlcment of as a result of Washington ad- ratlvc steps toward n shut. of rraiu exchange operations Scattered showers both in the an and Canadian northwest also a bearish factor_ together $487,000 bushels increase of the > States wheat visible supply. estaloaed unstable, 54-55 under- lys finlsh_ corn $4,’, down. “Mhfml-‘Nl i" ‘h’: Off. and provi- Jflfiing from 15 cents declined se of l2 cents. ' BONDED WHEAT. c, 100K. Julv Eli-Bonded M%°°°'1 Itvflflr. Close: July 50%;

nnadisn Press) l b. fluly zu-uarley, Cun- ‘0. ll .40‘ Onls Cun- ‘alaifntfi-u ho. 1i .41.’; Oats: feed ' 42:".- sprlng wheat pat.- »0. Flour, seconds 4.10; plum 4-90; Flour winter s, choice 2.50-2.60; Flour °°“‘ 16°; “berks. tcu 202s- 5; m" ‘i435: lfolleli oats bag my allay No. 2, lvcr ton'_ car . Lhncae_ QM, my”; Che",

“yin-WM: Butter h

in car- . iffllh...extras in Eras. fresh firsts in Potatoes new m, "n: .1o-.'ls.

corr . 0m‘. Jlllyogli-Cotton mh-nihwlnr bills: J...

~10: July one; a

R3111. 571-72; Ngy. 579; “mil ‘inlet. Mid

3"". fillet quiet;

5m_l°“""; American strict 3n

ec: diing

rlces

4.85: ordinary

SgOIAB ll Y Zii-Rave sugar ..“3l'3i§'i.'l"'-.°"*: or nmp ,, “45-“0 bin of ghilllp- 0 to lncsl refiners.

ltlll n

"r

'" on wua s conti 1",: "Mac. but little 4J1 “m4 Prices were h". 7 "I nflnsr and C.

M

_-_.._, (M.- ). High Low Class 1 1 =0 all ‘

2 git ‘M

_ "lrlggl ..

Taxes Co .. Tons Golf

$73,800 bonds.

The Pound Sterling cl at 34.07% and the United States ollar at a premium of 14 11-16 per cent.

osed d

(Canadian Press) The week commenced on the local Stock Exchange in s highly impres- sive nlauncr, improved sentiment find ing expression in an expanding mar- ket interest in today's session of trading, and resulted in s generally

‘buoyant price tone in a broader and

more active list, The current demand for stocks here has found offering on the light aids, a natural develop- ment not only in the light of the extended period of liquidation but also reflecting the change in attitude that quite reasonably follows such a decided turn for the better in street

Montreal power sgsin held the centre of interest in the local list, that: issue recording net gain of 11,4, at the closing level of 34, whilh was the high for the day, and coming second in volume, with 2,22‘! shares dealt in. The Montreal power deben- tures were l5 better at 40%. The leader in volume here was l\fcColl- Frontenac, which furnished dealings in 3.051 shares and closed a pcint better at 10%. Ogllvio, which was re- cently restoreri to frcc trading, sold at 120 in broken lots_ and contrasting withlrncent quotations of 85 to 00 for ssue.

Stock Exchange

(Csnsdlsn Press) High Low close 51% 40% 51% any, ' 3% 77% 4 56 27% 54% 8

Stolks

Allied Chemical . American Can .. ... Aln Smelt lifg Am Tel Tel ... ... Anaconda Cop 1 ,... Atchisou ... Auburn Auto .. Baltimore Ohio Bethlehem Steel

...-

...-

\'nn Pacific Csse Thresh Chrysler Motc Ccl Gas Elec

Consolidated ols Corn ‘Products .. I so sun

sss

n ... ... .... Csn Foods -.. .- Gen iiotou .. ,,._... Goodyear Rub c s- Houston Oil ... ... Hudson Motors 1 .- iut Harvesters .. . Int Nickel .. .

int selephcns

sen s»

Sui

l‘ 1 38% N 14 12 14

\

1500 (loldale 3500 Granada 5000 Barker . 2205 lioiiingcr 700llmstead 0050 Howey .. 14000 Kirk Luke 770 Lake Shore 811000 Mncassn .. 4000 Maiartlc . 045 ltiilntyrs '. ~.. 1350 Min Corp ... 1500 Moff Hull ... 2500 Moss .. .. (i500 Murphy 5000 Ncwbec .- 100 Niplssing . 1180 Norauda . 4200 North Can 0450 Olga .. .. 3500 S Antonio 1850 Sherritt 0100 Slscce . 2000 Sud Basia 10500 Tashota 5715 T Hughes .. 500 Towugmac . . Z00 Trendwell . 1000 Vipond .. ... .88 3800 Wright Her . l-lilver .27. Total sales 402,000

UNLISTID - 1000 Also Oil .

l 1100 a Missouri , 0100 Cen Man

34V; .40 30.25 30.00 .155 .23 04% .04 21.35 20.15 1.45 1.30 .02 .02 .32

33:552. - ' i:

_n,3 ..-._ a.‘ E

o

v55 3

shares.

.-

4800 Nordon 17500 Pen Pete 17775 Ventures

11800 Algoms .. 1000 Baldwin v 11000 Hobie .. 1800 Brownies . 2000 Dom Expl . .05 2500Gem Luke ... 0500 Grozeile .. 4000 Hilltop .. moo Kirk Boat .. 5000 Kirk Town . 4500 Oil Select ...-

PRODUCE

_._--s

Vs

9's .08 .08 03% 084i

(Cusdiss Press)

MONTREAL, July Bb-Trsding was quiet on the produce and dairy mar- ket here today. Butter declined, 1744 cents s pound being quoted for cariots or less of N 1. to retailers solids were 20 cents and prints 21 cats s pound. Receipts were 208 boxes. '