i , - L A‘ \ s l r‘ v , | mreuvo ‘ o an \ ___ " ‘ _ - l ‘~ PRIVATE WIRE CONNECTION T0 CLi-sialflaiv no. l l AMERICAN SECURITY MARKETS ' i “m” """""“°""""'" '“"' I WOODS REAOE COMPANY o _ . . . . . - NEW YORK. Mai-ch l2-The working capital increment liy ui- ‘ . ' - price for steel scrap in Pittsburgh most a million dolnrn lru. wtrkulz i Keir I has advailcetranother $1 too $23.50 capital ratio was 5.0 i0 l tompiii- i U i: l: l C _’— 1c highest 511.68 April 19.3. The ed with 7 to 1. l

rnembece o!

New York ‘ Stock Exchange

lletl llllll I (b. (sup, b’ unllufl lbul Illehunl! Ind OIII lurid) _ I

MARKET BULLETIN

(Ieoelved over Wooda- leede and Company lpeelul Win)

MORNING MARKET LETTER

Yesterday's market opened gon- erally higher but with the excep- tion of some of the lower priced

....,..... 0m vlc-i oii stocks, the volume in initial Al out... U2 n2 transactions was considerably re- al!“ Ff]; P, m,‘ n“ duced as compared with that ple- A". 1.. veiling at the openings recently. Aiu 'I'_vl To! 175% 173% After two or three unsuccessful at- M" “":"{;‘ My. 51% tempts to move higher, the market gfgifi...“ at am. reacted quite sharply to close the All in»: so‘ £6193 day with fair sized losses in all of I-urlllvo m‘ 0'5 the principal groups. §7i'.f.,'.‘..'., a1 tau. The inability of the market to ‘null Av absorb the supply of stocks evi- B‘ - 102% 1021.5 Bfllll st“ dent around the 194 level on the llrllll-‘Srs, "L? 32% 3g“ Dow Jones Industrial Averages and tgg. . the as level in the Rail average. rt.»- nhlo 1:5‘: 1%“ brought a considerable amount of fllmvflf" " profit taking by those principally 5:‘; II,“ at; 31,5 concerned with technical mug 9..., (Tm n action and prices gave way rlpi l= ‘"4 th llin t at cnlrli. I ‘right mIGIDeiKhQEL-SB K lnovemen was 52.‘... m a“, rill About the same time news dig. Ilulluui . 5;! 4,‘ patches carried references to Mr. su-l- A)“ T" is" ,3, Eccies remarks after a conference Eliiiflflfi. ‘ ' with the President indicating that mu Hlcc 90 60 their discussio concerned parti- llw FM" 05% w eularly the sharp rise in commod- lllgfidflflfi.‘ "‘ ity prices recently. i‘?°'4~“l‘?~ 33v. 333? ..§'.'l°.t"§§‘c’c".ii§f€iv§' 53$.‘ “Zfiiifici? aim’... L.“ “"9 2°“ ation in commodities and securities m. 1..., was therefore actively discuss.- in [Ill ‘lci Tel financial circles and no doubt mn- Ioiiils lino Co _ tributcd to is: selling in yester- §§:5"‘f§.'fi.‘ny \ ._ day's market. u..." uni-d t The irregular weakness of the hurt? \ -. London Metal Markets was also a Q1‘; l _ v matter of some concern- iigii-u-l. no; - ",- _, after the sharp advance of sec- nu- \urk A I ,- u urity markets recently the tech- X" ‘§“‘_ c“ M H?‘ nical position has no doubt been fiffklvifii ' y“ in? weakened considerably so that dis- l-nluulluut 15-15 W»; cussioli of possible restrictive act- Plll" “ " 4'95 '5 ion in this country and abroad m} '31,.‘ ° 74% 14v‘ finds the market vulnerable to such iii. "m Cah , ' selling as develops. Until the meas- ruh Sur N J mo. ff ures that may be taken have been W" "g1 °° .3?‘ 13%’? clarified we would be inclined to }‘.‘,‘.‘.‘.‘.f‘, .80 of’; us. adopt a. cautious attitude at least liepllbiii‘ st 1M6 tu for trading commitments. FM" 1*“? "° “'75 l“ Laidlaw and Company. 537i!’ 13.3” 13o’ l? 5" ‘ nu l a S Y lug hills" J 74% "lava UMMN‘ §';'f",.‘.° {at} 15.. Colorado Fuel and Iron corn- |-....,,, A... 32o, 33;: declares special dividend of $1 on lull-ll wig W; common. No. 1 heavy migttirtlsgl) etelell "l l‘! “mpg F“ m, s“... 10%.‘: _ slcprasp sells at $23.50 at uri . >.< - -. .-' ~ i- s sit‘ Cc 124“ National Dairy Products Corp. I1 h‘ W Al 539% 193a net. profit $13,282,028. or tB-fll {..“n“lfjf|'jr‘"‘§.roI a common share. against 89,838.- West Vuion n-fj 20s or $1.38 in 1935. um ill-c 1m Atlas Corp. Jan. 81 net asset ztflgwglglf’ value $20.59 on common. against ..

Banks

isupplied by Pltfield a Co. Members of Montreal stool

$18.77 at close of fiscal year Oct- ober 31.

Commercial Credit Corp. files with Sec. on $30,000,000 debl. due 1942 the proceeds to retire short term notes and to purchase re- ceivablcs. No general increases in

ilvhlllce and Curb Market) existing sugar quotas for domestic areas are being planned‘ ext; prezent = . by S cretary Wallace un er- g‘: m“ w“ ‘m’ stoodein Washington.’ gr “(an at]; 3% Mead Corporation and subsldisr; B“ f; H 4 ,1‘. ""' " ies year ended Dec. new prcfi lit-Ii q "'1" 1:3 331 $955020 or 81.22 on common, ag- ainst $501,607 or bl cents in 1985. , files with sec. on $10,000,000 4 1-2 Currencles first mortgage bonds. 40.000 shares

NEW YORK. March l9-(AP)-— 7hr French franc recovered more of its recently lost ground today, sided by news the first part of the French government loan had been

subscribed.

The franc pushed up for a gain of .00 7-8 cent to 4.59 1-9 and the British pound turned up 1-8 o! u Other

rent to 4.88 1-2. iorelgn currencies also

little at expense of the states dollar, including the Cana- advanced 1-16

dian dollar which cent to 1.00 1-18.

MONTREAL. March 12-(CP) - Pound sterling declined 3-16 cent on Montreal foreign exchanges to- The French franc advanced .01 cent to 4.59 cents while the United States dol- lar went down 1-16 to 1-16 dis-

lflv to 4 so 3-16.

w-

$.50 pfd. series B. Proceeds to re- tire 6 per cent first mortgage ser- ies A bonds.

Tin quota ralred to ‘110 per cent for second quarter from 100 per cent.

Weekly car loadings report due around 11.15 a. m.

New York Central Jan. net in- crease $787,741. against net loss $543.24! in Jan. 1936.

leadm‘ Brokers loans increase $87,000,- 000.

gained a

Umted Vulcan Detinning Co. i936 net

profit 8321.424 or $0.68 on common against $311,318 or $6.26 in i935. 30 Industrials high 195.33 low 191 77. last 102.22 off 2.18. 20 Rails high 63.77. low 62.33. last 62.61 off .45. 2O Utilities high 34.03 low 33.15 lust 33 22 off .75. 40 Bonds 103.38 0ft .34. Dow Jones.

_____

Production‘

Costs:

Recovery Values:

Capitalization:

Ore Reserves:

Comparison g

Fredericton, n, 5,

FACTS ABOUT SEAL HARBOUR GOLD MINES L_TD.

Irving. Bra

-

zoo tone a day.

Overall costs (Including development, min- ing and milling. insurance and taxes and ordinary capital expense 82.50 Per ton.

Present $4.59. exclusive of tailing value which averages lees than J1 oz. P" Wll- 1mm!" lnent ll confident that feclivfil‘! '0!‘ "m" year 1937. buses! on actual tensive mill "l" prior to installation of new mill will reach. $6.09 per ton.

Authorised. 1.000.000 shares, P" "l" "-09 Issued. 904.883 lhlffl.

More than two years supply above the I00 toot level. Additional cre reserves are being lmllt up through mining ooete not out“! colts.

The company is one of the lowest out pro- ducers and there are few companies in Lan- gu. mllllnl m tons of ere m h: with I capitalization of lean than 01.000.000-

Copy or recent onioiol interim revert chill: funlshed on Ietlllllt-

nnan & Oompany ltd-

IAINT JOIIN. N. B.

Ilallfll. N. l. Charlottetown. P. I. L

nation Molmma MARKET LETTER

Volume on the whole did not in- crease sifliificantly on the day's sell off and little occurred to alter prospects favoring additional ad- vunce.

New York Central made a new high 54 and sold off to close b2. Hold ‘and buy more.

Ohio Oil Company not only re- stated general weakness but man- aged to close higher on the day- Buy at current level and on dips.

National Distillers, buy at the market.

United Aircraft resisted selling pressure somewhat better than average yesterday. Buy near lest night's close.

American Rolling Mills. buy for additional advance. Stocks attrac- tin near lost night's closing prices include Celaziesa Corp of America. Deiawere Lackawanna. Standard Oil of New Jersey. Northern Paci- fice. Crown Zellerbach. Illinois Central, and Delaware and Hud- son.

Canadian Shares sold off under leadership of Bmelters and Pnper Stacks. There is still a strong pos- sibility that additional advance will be seen in the Canadian Div- ision.

Eidorado moved against the gen-

' eral trend with l. markup to 3.00.

hold all positions established lower down and buy more at current level. Dips may be used for pick- ing up Lake of the Woods. Dis- tiller Boagranls, Howard Smith Paper, and Home Oil's seiloff was not accomplished by any material increase in selling pressure, buy on further weakness.

Banon.

BARIN G MORNING LETTER

After making quite a number o! new highs the general list reacted several points. with most o! them closing near the bottom. Z look for a resumption of the advance al- mort immediately but that does not mean that indiscriminate purchases should be made. New highs were made in Montgomery Ward. Ameri- can Rolling Mills. Steel. Goodrich Co. and Goodyear Tire and Rub- ber, New York Central. Southern Railway. Southern Pacific R152, At- chison and American Smelting and Refining, but you should be out of U. B. Steel, and while I still think that it will sell a fraction above 129, I would not buy it back.

Anaconda. of which I said to sell hall on further bulge. only dup- licated Thursday's high and then reacted 2 points. above 29, where it should sell again. sell out. half.

American smelting and Refin- ing went 1-4 point higher than yea- terday and if it goes again above 105. sell out your remaining half.

Texas Commotion of which we had‘ told you to sell out half near 53. sold above b4 since and is now 49. Buy that half back at 47..

Indus Rayon closed slightly higher. Buy it below 3B.

Republic Iron and Steel made a. new high 47 1-2. sell your remain- ing haif when it rallies near 47 ag- ain. where you should have 30 points profit on it. in addition to the 25 or more points that you took on the first half.

Vanadium which I had told you could still be bought around 37. reacted to 37 1-4 after making a new high 39 3-8, lbiiy at 37. Chrysler reacted 3 point", but. I would still keep long of it. American Rolling Mills made a new high, 45 1-4, then reacted 2 points. It wont react much fur- ther and should make a new high. Montgomery Ward made a new high. 69 where you should have sn- other 15 points profit. Sell out half around 69.

Sears Roebuck, which you should have bought back between 84 and 81. sold above 95. on further bulge sell out half.

Southern Railway sold near 41, if you sold out half. hold the re- malrder.

Phillip Morris went no lower than yesterday. buy some around 74.

Brooklyn. Manhattan Transport rallied further and should be bought at or below 42.

Byers Pipe reacted 2 points, but has not seen its top yet.

American Zinc, about which I have an inquiry. might rally a point or two but it is not recom- IMMI-

Baring. NOON COMMENT

The market encountered another of the selling waves which have been evident in recent sessions and which serve to emphasize its weakened technical position after the sharp advance.

Thin market", are very mucll in evidence, and rumors of concern felt in Washington for the sharp commodity and security price ad- vances recontiy have added en-

uragement to profit takers.

We would hesitate to make trad- ing committmente at this time since the selling tests have not been especially conclusive in our opinion.-

lnldlaw and Company.

I'LL!!!

Frenchman is largely over- subecribetL-Dow Jonel.

BANON NOON LITTER.

This morning's reaction in New York is likely to be followed by some additional ‘vregtllarity. The trend. however. remains bullish.

In United Aircraft. dwindling of- ferings may be relltded as die- tinctly bullish. This stock will bc prominent on the next raiiy of the

market in Ieilerai. The sensational advance in raw

Montreal Stock Exchange

(i edbyHt-fleldlvo. mgaefblculreulltoet

§QGCNI

Bell Tel Brualiiau

Dom Bridge lloln St B Iluui Tex llrydoli l-Iui: lliec A Ell]: Ell-v ii Found C0 lit-ll St \\':|i' (iooiiyclir (iypsuul llulu liritigl- flow Smith Imp Tub luL Nickel lllt. Pow Lnkl- Wufllil Mun or Ail-Full Fruit‘: Mont Pow Slit. Brow Nut St. Cor Nuralliiu Pow ‘(Jorp Que Pow Shaw

St Law

St Luw PM Sou Cali Pow St (‘nu

MINING

Supplied by Woods-Baud A Co.

Stocks

Alderman

ih-ultio liiilgoud

Big Missouri ltoiilo Iiralorne iiri-lt Ti- Huffulu All]: ruuuilluu lilui ifalillr '1': Pout. Put Cent P0!- lft-llt Mull (‘hem Reeenich Phihouglnluu (fhrnmiillu Churchill Bt-uufor

ifnust Cop Cobalt Co ll - Du rkwater

ome

Dorval Sisct East Mal liliioruilo Falcon Federal Kirk Fruncoeur till-mini (hills Lako (loldale llloollc Si Ilurd Rock Ilurker

Hudson Bay

e co Kirk Lake Lllgilna Lake Shore Lain (Ion Laraca Lt-llcl ro ‘filolilpilnu Cad

‘urticr Mal I. i. Lac blul-uuun Hui-Lem] t‘

Mainly

.\lny Splorl lilucllilyrc Alclicllzic lied 1

Mining Col-p Minnelli Morris kirk Alurpily Nlplsnlug Nuruuilit (Ylirll-n UUIPLZII Nclvlmc Puiuour Purlihiil Paulorn 1'i-iul Urclllo Porrcn Pickle Crow Piuliccr Poi- Crow!

Pri-grnu l1 Dome Road Autii Iii-ll IAKO llotl Cit-st

Hiuiicll .\lnl Sindhi-lulu Sud linsin Sui] (‘on

Syirnlllie Ellllflii‘

Toburn 803 materials in recent weeks leaves little doubt that inflation is 110W on in full swing. Washington may talk the advance down for tem- porary periods but prices in gen- eral will go a lot hlzhel‘ 591°" the current upswing ends.

One of the factors behind Dela- wale and Hudson in the recent markup is the fact that the com- pany is profiting handsomely from

its large market commitment in New York Central. The latter points higher.

Additional committment in

Crown zeiierbach may be consid- ered around 20 1-4.

National Distillers is in an ex- ceptionally ma‘! Dofition market- wisc and capable oi staging a swing into the forties.

Ianon.

- such m National Dairy. Schenlcy;

i

"uinst. $1.48. We would look for all

latest news from Detroit i". that Chrysler and union officials will resume conference today at 19 o'clock. General Motors and union officials will also continue to settle their differcnrcs today. National Dairy last your reported $2.01 a:-

Regent Knitting Mills fink; plot- it increased 8 9 per cent und net . earning; before llL‘[Jl'i‘('iiiliL/ii and bond interest 16.8 per ccnl. Alicl‘ all charge; net profit of 577.0112] equivalent t0 50 cents. IIPl‘ CCiIllilOll i was shown compared with $10,462 previous year. Net working capiiul gained $436,662 to $758,889 durilw. the yeur- Car loadings of Canad- ian Railways regisii-rcd a l0 02 p71‘ cent. gain for the two wcck ])t"l'i(u‘l cilding February 27 against sonic polled lust year. F‘. N. Burt m»; curniiigs equivalent to $1 77 pr:- share ill 1936 against $1.03 in 19.75. $1.15 in 1934 and 96 ocnts in 19.73. Not tvorkiilg capital “'21s down $110,241 and O6 cents in 1933. Nut

PHONE 1417 - 1478 MARKET BROADCAST

irregular opening this morning but believe tilat thcre will be selected strength during the day in stocks

Std. Oil of New Jersey, and Cali- fornia, U. S» Rubber and the mils.

MONTREAL. March 12-071mm- ian lilciusiries Ltd. earned $6.45 pm- share on common stock in 1936 against $5 85 preceding year and $6.43 in 1934. Operating income was up 14 6 per cent and net in- come 9.9 pcr cent in 1936 in con- working capital was down $110,241 trash with preceding your. Net (luring ihc ymr. i

Montreal Curb Grain Prices

(Supplied by Pitfield b Co. Members of Montreal block Exchange and Curb Market)

urday’s Issue.

RETAIL MAIHKIT

‘ WINNIPEG. March 12——iCPl-_ llnins and snow in the southwest- i-ril section of the United Sluice induced ileuvy profit-taking ollllle Winnipeg gruin exchange ioiirly

Hlockl UP"! (‘iv-w and prices finished 1 3-4 to 1 3-8 FPQ] ‘ hum“

‘WM cents lower. s I 1‘ d“ _., in...“

‘\sl|(|5t‘,s Ai: the close of un active session . puulwo- NIH‘ ll. _ I is A Oil Mav wheat was at $1.30 3-8. July I ‘\"I"""|": "“"“'“ l"

, .. .' . . _ »l'l""l -'

:,‘;“'e""'l"l:,"f'rg' 2127 3-8 and Ottobel $1.17 1-4 it l 11. u. “i; . ilrllh A ' » *

I'M! victor: Plrlportcls nilrl [orclg-n interests l‘

{mill 3'1"‘ purchzihcii 750.000 bushcLs‘ of Cun-

“m: ‘B zldlall wheat. ‘ i

l-‘rnsor '1lul:vl' ll»

Argentine wheat, sillpnlrnls Fraser V T C

for the week totalled 7,239,000 bushels

OIIARLOTTETOWN Am) SOMMERSIDE

PHONE 1G6 S'I‘A’I'I()N (‘FCY 12.30 AND 7 RM.

.\I(l'.‘iTI".i-..\Jo. ‘$19.71.. i.‘ . w. l

11am Ii

$7.20;

p "il/ulil‘. liiUiUL‘

TS ProductimPrices 1.00M. MARVEI V _ QUOTATIONS

Corrected For Every ,. Weilnesilay 8c Sat- "Aj;

~12 JCT" $1M; lluzlu) ’ laud, N0

“Le-alt pntcnisfiloh bakl-lu. $7.10

$13.7

t0!) ; ruli- , iliif, N0. i u, iii-i to iZli-l A-iflfgi‘ 25; A-

l. 1J1. iw. l \1i.;. S01

i i

°r compared with 9.090.000 a week i 0 ‘m. llofr-li lit 13 1-4 w H" walker ago nti 1171000 I t year 1 q l O tarios

clue Uii 8 . . £15 ' . _ (Q1115. .1 il;llinl' inf‘ ii

llll'vlf>_ll_ Cash wheat trade showed im- “i. Qiil 117.. “lit: ltiiqiloind. “Qvivmql; _\ provi-lncnt fol" the first time this 5i ‘i')j“l(.l".j 1'71 l. 1.11;. nu $1.70; 1- week. Top grzldcr were wanted for l .\It.'. ‘m. 37.40; QUE‘. 1.12s. 80" 1'r“':‘_['rl| silipmcnis at LIICIODCIUIXQ‘ of liuv- . 5\1;4:,_ ‘ ‘ a ilihYl-‘ijiailjlp igulioll. Spread for Nos. l. 3 mid xflw-FRIP- MAW-l. i: -lCll> -- “M, QlIt‘IIInll 4 blortlicrll worn l to 1-2 ccllt bet- WINNIPEG Mqrch 12 _ JV...‘ 141- pr l-oiuzuncid ---- m-A-i in‘. i _ ' ‘ __ ' m m; .1 m. (jgillgidigill (Llilllllilli ~ uxuarlzu MONEY BOX In the coursc iZTOlll-‘i, most of the C]°"“‘gt?“;‘4" fu§ggefié 8, m, m r ..- .._v.~i.‘~,..~,~;- product) sxfctiuii lu- _. ilctivity was confined to rye. Gen- 3_Q‘.rh8?.t' 117“;_4 w 3:5’ y , (in _ (By The Canadian Press) orally prices were influenced by ‘M 56b, Juf 53 to 53 spot-Que, yngygflcd 2.; Closing exchange rates: Wheat. a ' “y ' y 53-4

at Montreal -—Pound m; 3-10; *3“-

1 Jilly 7-i l i

. li.lyl*l‘.~-ilis1l<wlloll 2

franc459; U. s. dollar .99 15-16. iA-P- by Guardian's Siminl Wire) Qarlogyt: g“? m“ "ab; At New York—Poulid 4.88 1-2; CHICAGO. Mar. l"—-Rain.sleet 14' qc '1 ,"“1' . franc 4.59 1-8; Canadian dollar dud snow ill the United States gyfiegtPrgisd hard 131 5_8_ Nag] 1.00 1-16. southwest brought about wheat 1 Nor‘ 13-0 aim No. 2 Ne?’ 128' ‘ i _ -_

At Paris-Pound 103.46 fr; U. S. dollar 2179 1-2 fr; Canadian doi-

pricc iunlblcs lute today ihut cx- _ , _ ccnticti tum cont: a hush»! N“ 3 Nm- ‘~34 mg- N“ 4

‘Puiul mining suit-s i_:lil.4|ni). 13mm (‘ml

(‘r0

cents advance. _ r__ _

Nor.

c ‘W-l".._1__‘2i _"‘*£¥_.7?..1f3;._-

Yr. r/a Cl-l rb

. New

I J IOWGSt PPiCEd CHIS

_ _ AJVQQsTI/zozsotl T» VSALES c-‘Azrvslrkfo,

IOHIAL ruovonum

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P. 1i. Island