JANUARY 8. 1935

AY’S S

T

THE CHARLOTTETOWN

and BOND QU§

GUARDIAN

i "iVll

TATibT/s‘?

U.S. Budget“ Fails ' n.

Have Effect On U.S. Market

(ly Prank Hacllllleii, Amocistsd Prem Financial Writer) (A. P. By Guardian's Special Wire)

NEW YORK, Jan. ‘l-Fsced with the details of the United Btates budget totalling more than $8, ,- 000.000 for the forthcoming fiscal year, financial markets today were neither dlsconcerted nor _ , cially buoyant.

Steel and rail stocks pushedup- ward sedately, a number oi spe- cialties exhibited s fair amount of strength and the utilities and mo- tors were inclined to yield some ground. But all in all the equities list performed about as usual with

the only difference being that

there was a little more activity than in recent sessions.

The huge borrowing programme of the government might have been expected to unsettle U. B. government securities, but some early nervousness, federal Issues steadied perceptibly and the majority ended in somewhat high- er territory.

While the new budget. President Roosevelt admitted could not be balanced until private in- dustry can re-employ the jobless millions, obviously has iionary aspects. leading foreign exchange centres did not appear

Vin take this phase too seriously. ‘Hie principal gold currencies were s.blt higher in terms of the United States dollar, but the pound sterling and the Canadian dollar pointed. downward.

etsry expansion is concerned, the sound money forces oi the finan- cial district were cheered by the 1-. sldentb statement thst- infla- tion was not involved in the spend- 1118 wogrsmme. Bankers generally expressed-tbs opinion; that the government would have no. diffi- culty ln raising all theiunds it needs through orthodox channels.

"Commodities, ordinarily sensitive to any rcvivslcf inflationary psy- chology, were rather quiet, though wheat finished unchanged to 1 1-8 cents a bushel better and corn was up 5-8 to l 1-8 cents

Steel On

(C. P. By Guardian's Special Wire)

MONTREAL, Jan. ‘i-ln the face of reports that steel production had shown a vast increase during the past year and that ivns at the highest point it had reached for some time, steel issues

on the Montreal Stock Exchange movcd sharply higher in heavy trading today.

The advance in the steel stocks had its effect on the rest 0f the market and narrow gains were generally in evidence with a high degree of optimism prevailing. Dealings were carried on at an ac- tive and cheery pace during the middle part of the day_ but slack- ened off towards the close. About 20.000 shares changed hands. -

Announcement that production oi nickel in Canada during past year had also greatly improv-

after 83am iihDfOVCd as to 45‘cents a 3511912,}; m . ' . Dom Cool ii Prime investment corporation DWI m"! “Om bonds displayed a confident tone gm iii’: B throughout and a number of sise- q... m“; “l...” which able advances were registered in gurds . 6% m the medmmimde gmupsh .| ._ ypsum The turnover ih stocks totalled fififf 3$ii"‘ilIil?§.°'."‘ '.' 1W‘ 5.11:6 1.286340 shares against 965.420 last iuci, Nickel ‘A its infia- Friday. Th» Associated Press aver- {""‘°_“' Hwfifzg‘ ‘gv age for 00 selected issues moved 312a,," FQI,‘ m1 up .14 oi a point to 41.19. alone BPow 31% - w - 11:9. 81:1 Cur l8 \ - . Power Corp 0% Iss ues Advance ‘~’»“°ii°-’FY=» .. sli mm rm — . - ilifixfiqlm ' '. . . on rea xc ange Si“? “o” “a: “ti. it" . ee _ o n . Webs so Cot 22 ea along with the remainder oi "i" i“ 2 the base metals failed to. have the BANK, expected effect on unto. ationsl ‘ Nickel and the others oi the group. M ‘ _ l y", demand Nickel moved within a narrow N,§’,!‘,,'§’[.0 2%; range throughout the lday and Royal 1001/,

closed at 24 with an advance of 1-4. ‘

Steel of Canada, heavily bought in early dealings advanced to a new high at 48 but slackened in later decline oi interest and closed at 47 8-4, where it was holding a gain oi a point. The preferred shares. after touching a record top of 44 early inthe day. fell off as traders took profit and at the close showed a srrisll loss from the previous close, selling at 48, off

5.1.. totalled 19,910; bonds m,- os . _

MTTLCURB

(Johnston and Wail) Stocks - (ipsmll

Ahitilli ... Assoc Brow Beiiuhhriiuls Blow Corp Coin . Brew Corn l'fd .

. . 00 Wulker Good ... .. Z354 39V; Walker Gooil Pfd ... ... 17 l‘! Walker Brow ... .. 400 400 Wright liar .. . 006 O15

A MEANDERING BOY

The magistrate regarded the ur- chin with a look in which sympathy for his sad plight and disapproval for his misdeed were “Wally blend- ed.

"My dear boy, he exclaimed, what possessed you to steal the tortoise?

I didn't steal it, was the unex- pected retort. It fofiowed me home.

Favor Duke Of Kent As Next Gov. - General

M. ‘P. Cable Vialevuton)

(By Guardian's Special Wire)

CANBERRA. Australia, Jan. 4- Australia, which now has its" first native-born governor-general. would like the Duke of Kent (PrlnceVGeorge) as its next gov- emor-general. '

The recent visit of the lung's third son, the Duke of Gloucester, has given impetus to the old move- ment here for appointment of s prince oi the royal house as gov- ernor-genersl of the cornmcn wealth and popular choice, sficrns to have fallen on the young 130KB of Kent, who recently married Princess Marina of Greece. _

It is an open secret tbst'tlie cabinet is in favor oi requesting His Majesty toappoint the Duke oi Kent to succeed Sir Issac lssscs when the letters term as governor- genersl eirpiresln 1990. Although Prime Minister J. A.‘ Lyons de- clines to make an official state- ment on the question, it is under- stood he plans to discuss it with the King during his visit ‘to Eng- land in the spring ior the Royal

Use Ulnar-d‘: ior hplaivis

Jubilee celebrations.

‘ALLA; xxxxhv s

iiiviriuiig iiaies-Pilylliia iii suuiiiei?

Central flaarllul locals. 4s I!!! Iorll WIN"! Ill per word- Announcements uld (JG-III Ivan“ per word: In Iemorlam Notices. ‘Illa

Spiritual Oilerlngs, Csvdl sh do [Or per Inch; Nation of Thlllkl I'll! IIIIIONIO Il- 7“ I. I3“

word Other rates on Ilipllnstien

.. 6 IATEi-Ze per word, (bros

Olona for the price of two, advance-

s AGENTS WANTED FOB P. l. l-

Good proposition. Apply I14 D911- nis Building, Halifax. N. B.

114688-1441. ‘

A - o For Sale csaiiaoaun IUITABLI roa lining outhousea. etc. 1r W sheet. Guardian Oflios. ti.

r03, g5]; _ NEWLY IBEQIIIN- cd cow, priced low. ll. Mq-shflglri, L-SSOO-l-i-di.

iron. sans - aucnus sun's!-

°"“'"- .ii s irris near P. W. C. Apply lent St. L-ISOO-l-I

h- xx-

laden locals. II loo pir Ilvds Olsslllel per inn-Ii Lin: oi floral and name; Ilihva a! Gondola-lie. '10s OI CO.‘ I-

Illnlmum Charge ior a!) advertisement sweaty-live 0090s. 4 ro-oo-o eoooooo-oooooooo-oooa o-oo-o-o-o-o-oo-ooo-e-oo-ovo-w-o-o-o-

To" Lsf T0 IINTd-WA§K ‘ FURNISH‘,

rooms, centrally located, "177 Grafton. - 17-3407-1-5-8!

T0 LEIHIUINISIID 0B UN- iurnished rooms,- heated, 130 Hillsboro St. . - L-MM-l-‘l-Sl

r0 LET-PART orns ifusxrsn- ed house. with. heated rooms. Kitchen privileges ILGCIIICG. Ap- ply Guardian. . - L-scp-l-s-ai.

'

mo, sum and who: 8cm ma." no‘ a m!“ "ilmi" “lg” l‘? mailman“ =‘§..¢'o.'§$'.“" Printers. °'- '. . a Is-IOOI-l-I-Si. Wanted 02:“ ot-rwots-i-uiiiursaig -—-—-—-——-—--— . q- gum warn-so -0NE IUNDIID from College. les wcmouiu so ggggn“ ha‘; flgtg yh y ' lrW-l-I-Ii . Wllhl I i H1813“, lgu“: "=2: ' m. iogsno tcllfl mm. shawl-s. accosroosrmt-av 3.‘ Rive]: 1 i . :48Il'~'l'-§-____ emu-slam L-llfl-i-‘I-Si Mile Help Wanted Miscellaneous , .

IPPIINTIOI IANTII) ‘I0

sscsrsnrsni In

-l'.tF'...'.':t'J'.::.-.."£.£.°""or

insle fou II. ‘Big.’ . Imkar‘

So far as potential drastic inon- ‘

‘h.

Mt 'l. S to ck Exchange

(Quotations furullbsrl by Johnna.- null Ward member! of the Inlirem Stock Ihcbunn. llontveul (‘urh Isl hi, I“ Richmond Street, Charlotte- town.

Stocks

(kn Pse . ... Coeksiiut Plow .. . . . . . Cor Smelt .. . .. 140

Miscellaneous

(Canadian Press)

I\IO.\'TRE.\I._ Jiiii. 7—

Wheel iior no it til.

Barley l.‘ W no 2i lid.

Oats C W no 2 54.

Outs (.‘ W no ii 4s.

0M1 iced no 1 40.

allllsur spring wheat patents firsts

iriour seconds sis 0o. lgour bakers 84.90. ouo winter wheat 4e in h i

ammo sun. N u °°°° Flour white corn $5 60 to $5 so. Bran ton $28.25.

lbl $3 36. carlois Sill 00, Ont 10% to 10-1". Butter n0 1 21% i0 22

Ell‘! in cartons A 1 lrirgo 40. Eggs A 1 medium J7.

gigs A I. puiletls 36.

Ell’! B large 2s. u l Evin B medium 24. ~- lllggs C .

Potatoes Que 80's 46-47. N B so 48-50. P E I 80's 50-52. . MONTREAL, Jun. 1—Wiih only a

single contract bein traded in light dcsiinll. silver futu showed nar- row declines on the Canadian com-

modity exchange today. Prlcel were five to (B points lower following the decline in London. The lose Sop. tember contract changed hands at 5000 and closed at 5616 nominal as compared ~wlth Saturday's closing price of 51 00 .

NEW YORK. Jan 7—Index of 1d staple commodity prices. (Dec. s1, gsitihequals 100; 1928 average equals

Milly X1604 prv ds 1582 Week ego 160.2 yéesr ago 123 0. 1934435 hi ii 160 4h1i734-36 10W 126.0.

X-hrw l 4-6 big (Copyright 19$ by Moody's) Halifax Port

Arrivals

ARRIVALS:-

Lady Nelson from B. W. Indies. Silver-sandal from 1hr East.

Oils fmmiJaniaica.

Teal from Banks.

C. BJMayes from Local Harbour Bord Kitchener from local Hbr. SAILINGS:_.

Vardulia to Saint John.

Boston City to Swansea. Marrinette to Sheet Harbour. Teal to Local Harbour.

C. B. Mayes to Local Harbour. Lord Kitchener to local Harbour. VBSSELS lN unarm-

Iord Kitchener, discharging. lady Nelson, discharging.

Otss, bunk lng.

Teal, bunkering.

G. S. Msyes, ‘bunkering.

Barge No. 2, berth.

Vardulia, discharging.

Boston City, loading.

ha. loading. Mu-rirlette. dlseharvlfll-

Kyno, discharging.

VESSEL! DU! T0 saaiva=_ Isa.

di-Glenbank from Far Bast.

Emile lirancqui from Purness

Pier.

' Ccchrane from S. Africa. Bealrrdaie 1min 8t. John. Men. Brigade from 5t. John. _ Drottningholm from Gothen- burg.

Indy 8o from Boston. L-Duchess of York from 8t. John , Antonia irom~New York.

Salacla from st. John.

' poi-hes: of Atholl from Liver- ‘ ‘pool.

kchcdabucto from E. C. ports. I Calrnross from I. C. ports.

Vslfiorita from Italy.

‘f-Blus Peter from Nfld. ports. . minimise from 8t. John's. bian from Glasgow. '

Colborne from B. W. indies. I-Clorm from New Yb?!-

Garlleriis from Ahovidencs. l-Vsrdulls from 5t. John. io-A Steamer from 8t. John. ii-Oathcsrt from Nassau. Beamrhill from 8t. John. Duchess of Dedioid Liv-

(Dy Johnston and Ward's Special \\‘irs)

IOBVNINQ IAIRIT LETTER

NEW YORK, N. Y" Jan. 7—Ths market was quiet slid irregular (lur- infi the first hour- Saturday and (lien rs led iii-lively with the ludusirinla leading. rl oud grude rail bonds were strong also.

The gains were not large but the upturn oil volume was encouraging.

Throughout the rally from the Sep- tember lows, reactions have been nominal. Bids have been lowered from time to time which with liiie normal amount of selling has caused occas- ional setbacks but at no time has there been a general desire to liquid- ste stocks. Apparently no weak speculative position ot importance has been built up. The llnils have not participated much in the recovery but it iho outlook for Spring business is as good us one action oi indus- trials suggests thelqehould come into line despite (bospecinl circumstances affecting them. If they don't respond fairly soon, il more critical attitude toward the genera-l market will be

necessary. Lsidlsw and Company

SUMMARY NEW YORK, N. Y., Jon. 'I—U. l.

MARKET GOSSIP

Supreme Court meets at noon today. Gold Bale 142s 8d, gainat 141s 754d.

President's Budget message, ex- pected around noon todly. Magazine “Bteel" lsyl lteoi works

operations during past week advanced

IV. Y. Stock- Exchange

2." 0! -

;‘,"?,_"°“'" ‘° “ A "mm" °"’° (Quotations furnished by Johnston

California Crude Oil output uul-ih and Ward members of the lldout week end Jun. 5 averaged 472,808 Hill Stock Iliilllllli, IIOIIOICI bbllk daily. all “ii 11.1160 over previous cltllfhlMl-IKCI, 1.56 llcbruondstreei wee . o ,

Assn. of American Railroads report c ‘r tum”). ‘ class 1 roads in Nov had net operst- 5mg“ opggg] Lg", iug income $31,582,701; alilinst - I 002,122 in Nov 1mm. ll iuomiio n23,- 1l7,030 against $430,485,013. A“. n“

Chairman Penney of J. C. Penney Alum Chg‘ Co. sailing ion Bermuda Saturday Al“. Chum

said “Our net proiis for show a substantial increase over pre- vious year." Feels that 1935 will set

a new sli time ric-ord. Aisslou Juneau Gold Mining Co. December profit $172,200 before du-

preciation and federal taxes etc, ag- ainst 8102.064 in Dec 11x33 Your i934 {iagiailt $340,550 against $1,821,052 in

Hllh Low Last Up

...I(I50110450105.56 087 .. 3684 8601 3682 0|"! 17.74 17.60 171B 01; 96.40 01L

Dow Jones.

, e Currencies (Canadian Press) MONTREAL. Jon. 7—~'I‘lie llolinil sterling declined and the UIIIINI

States dollar advanced on biuntr-riil foreign exchanges today. Tiic pound showed l loan of s cent at $4 B0 l-lii. A gain of M. of one percent was abown by the American dollar at li- Ii2 of one percent, discount. The French franc was up .02 of s cent at 6.61 cents.

(Canadian Press)

NEW YORK. Jon. F-llecanvt wonk- ness in sterling null the Canadian dollar was resumed in the foreign exchange markets today.

The pound closed at $419095, its low for the duly. for a loss o! 1% cents. The Dominion dollar fell from 15-112 in 55 percent premium ’l‘lie

French imnc, closing st showed a gain of .0099 of a cent.’

NOVA soormNs EXPORT BRAINS ssvs acoNoivilsr

(By The Canadian Press) HALIFAX, Jan. 5—-Nova Scotia's chiral export is men "who attain position of eminence. further west",

Jiccording to Prof? John Harry

Jones, the British economist who headed the Royal Commission that investigated the province's economic status last summer. .

But Prof. Jones, Writing in an English periodical. advises Nova Bcotians not to wori-v-"Thnee wim- tries which export brains," he says, "never suffer from lack of brains; they are human wells that never As for the ordinary, everyday Nova scotians, the economist writes they are the provinces “greatest asset." The visitor, he declares, is always assured oi a warm welcome. while he may-“enjoy the beauty of

' Nova Sootia. and feel, not merely

comfortable, but extremely happy among the people "of the province." Prof. Jones declared he was en- chanted by the rugged grandeur of Nova scotias scenery, her "end- less" forests. "glorious seacapes. picturesque and historic spots, and the "quiet beauty one finds at al- most every turn.

He found the most "interesting" town in Antigonlsh which “with its Catholic University and its other educational institutions was a min- lature Cambridge."

In all, he believed, "NOva Sootis seems destined to become one oi the great centres of tourist traffic. It is a country’ of great beauty, and still unspoiled."

GASOLINE FOUND T0 BE GOOD SOURCE

STATE COLLEEN}, Miss, Jan. 7 --.Exquisitc perfume abounds in the every day gasoline that drives the family car, two young chemistry professors at Mississippi State Col- lev- have found. , -

Alter experimenting ior three YCBIJ, Dr. Clyde Q. Sheeiy and Wil- liam H. King disco ‘cred that alde- hydes, the artificial aroma-produc- ting chemicals, can be taken out of common gasoline at the low cost oi $25 a gallon. By the old method oi producing aldehydes the cost is about $250 a gallon. .~ The process invented by the two young professors consists of bring- ing gasoline into a vaporizing cham- ber and subjecting it to a tempera- ture of 440 degrees centigrade for 3.5 seconds.

WILL ATTEMPT T0 RECOVER. GRANTS

(By The Canadian Press)

5'1‘. JOHN'S, Nfld, Jan. 6 — A drive against land-owners who ne- oeived land frce on condition that a certain portion of it would be cleared within five years and have not complied with the agreement has been started by the Newfound- la.iid Commission Government. Five grants have already been cancelled and the land turned ov- er to the government. When the grants were made it was agreed the land-owners would clear and cultivate within rive years. i0 ac-ns of land for every 100 Mm 110m- prised in the grant. The same con- dition was to apply in smaller grants.

i2—l>uchess of Atholl from St. John Kyno from New York.

Liliemor from Jamaica. Genius from Baltimore. lk-Chedlbucto from B. C. ports. Andsrila from New York. l4-—Belle Isle hvm St. John's. Drottningholm from New York Dominica from New York. lfl»—Portia from Nfld. ports.

Can. Victor from Aust-Nz. City of Flint from U. S. ports. Pulaski from Gydnis.

Cold Barbour from Gydna. io-Chinese Prince from, hr East. _Oity oi Canton trom Calcutta.

“if! I.

IuLDQgImmUIIQILJoB-

EXCHA NGE

(Canadian Press)

MONTREAL, Jail. ‘f-British sud foreign exchange iii relation to the (‘uiihdtan dollar as complied by (he ltoyui Blink o! Canada, closed today us f0ilows:—-

Argentina peso .2101.

Australia pound 3 8934.

Belgium belga .2343.

Brazil iniirels .0003.

Bulgaria lev .0125.

Cbiiici Hung Kong dollars .4280

France franc .0001.’

Germany reicbsinark .4018.

Great Britain pound 4.8900.

Holland tlorin .0771.

Huugnri) iwngo .2014.

India rupee 3003.

Italy lire .0830 .

Jiipiin yen 285i).

Jugoslrivin (IIIIIIY .0229.

New Zcuiiiiill [illlllitl 3.0080.

Norway krone 2141i.

Poland ziuii . MM.

Spain pcsciii .

S\\'L‘(IOII krone

Switzerland from 244

[Infill-ll States dollar 11-32 per cent discount.

NEW YORK, Jail. 'I—Il'uri-igii change irregular. Grout llriuiili blgb 401%; low iimi close‘ 4 90%: (i0 (lay. bills ~i 90%; Franc:- (i (i3; 8 50'

9X-

Beigiilui 253.51; Gorlniiny 40 (iii; Con: 8111i 100%. (‘losing ('Xl‘il'liil),'(' _ I'(iIiI’ll| 4N0 111i; U‘

.': fninc (i (ii New York-Purim! 4001);’: Clin- udlun iluilur i mug; franc (l (i3.

Ait Paris-Porn“! 7110 fr: (Jiiilnrliuil (lo/liar 15.10 n; .1 s. dollar 1:. only, Irnncs.

In gnlil—l'ouiiil ..a; Cilliilliifiil dul- ilolnr 5i) 54 cents; cents.

Potatoes Appreciated l‘

Mr. Martin G. Corcoran, of Peakefle R. it. 4 has received the following letter oi’ thanks for pota- toes sent:

Lisieux, Sask. Dec. l6, lsa-i Mr. Martin G. Corcol-an,

Dear Sir, — I got some potatoes through the relief about a month ago, opened up one bag today and found a slip of paper. ‘The potatoes were in good shape and seem to keep well.

You ask how bad are times in the West? Well, most of the people have not had a crop for five years. The real good farmers have had a little each year, enough for feed, but they are few. Just happened to have farm land in a valley or list. As for as potatoes and such .ike, about one in sixty, enough for his own use.

About 90 per cent of the farmers have to have feed shipped in for their horses and cattle. They ship feed down from the north. The farmers are trying to nold on to their stock, as they are so cheap you have got to have a good horse to get $60. and go.“ ones are scdrce. The government advances you 1/. cent a pound on beef. ‘lncy send them to the cannery and after everything is taken out, if any left over you get it.

We are in\sheep, and on relief too. We'll ship sheep to manket this fall. We shipped aged sheep, not so very old, and got l3 cents each, but expenses eat them up.

Everyone gets a relief ticket each month, clothing order, and coal or- der in the fall. We get horse feed, grain, chicken feed, pig teed, all from the government. There is even clothes sent here from other places and passed around.

Well, this is some idea of the times out here. One thing we have gc‘. i: n. nice winter, no snow yet.

Would like to hear of times and climate of your country.

Yours truly, WM. A. IDDIJ. iPB.—Our biggmt trouble is cloth- ing, one boy a year old.

SCOUTS AWAIT CHIEFS VISIT

(By The Canadian Press)

HALIFAX, Jan. 6—B0y scouts of Halifax are planning a warm welcome already for Lord Baden- Powell, World Chief Scout, when he arrives here this summer 0h a Canada-wide tour.

The aged Chief Scout will begin his tour of Canada on Aipril. ar- riving on the Pacific coast and travelling eastward to the Atlantic. He is now visiting Australia and New Zealand, part of his itinerBfY on a trip "in the interests oi world