APRIL 2. 1937 i

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This LHAKLUFIISIUWN GUARDIAN .

~ l STOCK QUOTATIONS

MORNING STOCK LETTER

lloodvad ovu Htlioid and Cato Privato It»

NEW YORK, April 1—Th9 L011-

lon market this morning is quiet _

and steady. England in order to help steel producers, has removed a duty on common steel of 3 pounds a ton. No agreement was reached by the coal operators and miners yesterday. 081511956 Corporation has announced that it will increase

prices of Celanese yarn from 3 to‘

i cents a pound effective May 20. There is no overbrignt news which night influence the market in either direction and consequently we would look for an irergular

vmarket today but believe it should

resume the rally before the end of tho day. Still favor all the oils, w- cially Texas Corp-, Ohio, Con- nental. Skelly, Phillips, Standard Oil of California.

NORTHERN MINER NEWS ITEMI

‘TORONTO. April 1—Mao'l.e0d Cockshutt—0re on the 500 foot level now more encouraging to the east ore now shows a length of 85 feet running $16.80 across drift width of 4 9 feet. To the west ore has been picked up in drilling.

Central Patricia-Since end of year 60,000 tons of $17 average grade has been added to ore re- serves-

Pamour Pore-During the last seven and one half months re- vealed a net profit of $157,390 after all charges. Mill located 188,187 valued at $5.85 per ton. Last three months of year 65,560 tons aver- aged $6.05 operation and general posts equal to $3 95 while total charges were 84 72 per ton. 0rd Ieserves were estimated at 1,921,- 000 tons averaging s6 24 including ore in sight only within a length of 200 feet tributary and main

New York Stock Exchange

(Supplied by Piffleld b Co. . ember-a of Montreal Staci Imohalll! and Curb Market)

Itoolsa -.0|lel\ Clolo AI Chem 2H M6 Am Can 10s}; 105% Am fir)!‘ P! 10/, 10% 1.11 uui L5 ‘.15 Am T91 ‘la-l 171% 1'11 A111 “Hm-r 2J1 1% Anai-umiu (in 645g Alcluiann. 8L’ 21 an Rot s‘ I‘ uliuru 30% 30% 1111i Loco ' 111i Ohio 3e14, 3111.’; emiix AV U514 25M; Bmu s: as 0m Briggs Man 411 4241/, Case 1511 1110 , Chou (“I10 51M] NIH; (‘hrysh-r 12F‘, IZZIIV; 0 4 . Don (‘an 001,3 51mg Fnn Gus Co 40% 40% Corn I‘r0 011/5 6410,; l‘11r Wright ‘I 7%; 1'01‘? PlupnA l L‘ 169% 0c u o . I00 1'1‘ Li . 2' ' in-su-ne‘ 30'»; : ' Gen Elm r 6 Gcn Fuulisi ‘I'll; - , Ben 510i till/s iii! gratin-up. 4w, lrltg. uui ' 4-1/4 41,41 l N0 I'M Ill 50% "ma. Moi. Car 4-11 - - ~* . nl 11hr 1011-’, 10.’. nt Tci 71-1 4 12c. 12% 011119 Mun 1121,, 142%,, Iii-nnccnil _ ' 055a 0-H 01% mill 10% Ill?‘ GUM 51 Jfllj It'll.‘ .\ T’: ‘Jil-‘lf. l- 20h |.,. ' 1:1 f Pxifiliilnlilil " lh-nn R R 47V; 47% ‘iill .\iu1' iiil I'M (‘n 010i 'l'l-l Pain uh Sn-r i\' J 4.1 45 Pure Ull Co ‘.3074. 20V; Rmllu (‘u 1114; ll IHIIO I\' 0 PW; M‘: opuhlh- Si 411's 4Q). Ilnarn 11m- 1'» 11111,, 90;, Shell l'ni0|| Oil South I'm: 60% H1151’; S111 (Ill I111] 4TH 47% ‘furlo (‘.0 17M; 17% slcl illl N J’ 72 72 fox (‘n H174’; 110M llnlicd Air 30*]; 30V; 1111011 (‘<1 (1% 01,5 IIIINI 11mg Uniicil (iilii lump 14 14 II b’. R1116 Fllgé 9 St o ' E R Ind Al Mil/ii ~11 nnadium Warncr- limo 15 x M! Un n 74 5b West Air B Wont Elm- 1401i’. 140% Woolworth d4 % M a (Canadian Press) April 1—Butter

loos maintained a firm level on

outreal open produce markets to- day while eggs eased and potatoes were unsteady. -

Graded egg shipments in oorlofb or loss were quoted at 20 cents a dozen for grads A large, l8 for A- medtum and 17 for A pulIet-s-

Butter was quoted at 27 to 27 l-2 Cents a pound for earlots or less of no 1 while lots to retailers Wen I for solids and 28 [-2 for prints.

Cheese was quoted at i3 l-l to 1-2 cents o. pound for Ontarlos whlio Quebeos weer unquoted.

Potatoes: P. E- 1. mts 90's 81-40 f0 9190; N S mts 80's $130; Q1"

mis 80's}! 26.

M9 , Apffl i-Firrn prions prevailed for butter on Can- adian commodlty exchange pro- duce section today while eggs eas- 6d a little.

ButLe: spot-Que bIIWPS-lfllllw‘ tion 27 to 27 l-fl; Western regrad- 0d 27 to I7 I-2.

Cheese Spoir-Unquoted.

\ Iao lion's for Bandrnlb

1

l

shaft and to I. 11091-11 o! 450 feet.

‘IORONIO. Arprll l-Mcliflllan gold mines will close once again owing to financial difficulties. Just recently it was said such a 5WD was not nsldered- Directors met on Saturday March 2'1 and de- cided on the suspension of ope!‘- atlons at the west river property.

MONTREAL, April h-Noranda 0011111811? Bntifilpfltes no difficulty in selling entire copper output this year. Average price obtained 1n 1936 was 9.47 cents a pound, considerably lower than present market quotations.

Beattie Gold-WM profits equi- valent to 10 cents a share as ag- ainst 3 cents- Tons milled during the year increased 98 per cent and gross value of production 3i par cent over 1935. It "a expected that continued profits will allow pay- ment of a 5 cent dividend about the middle of the year.

Standard Oil of Indiana-lllarned $3.08 in 1936 against $1.98. Jam- aica. Public Service gross 12 months ending Feb. 28 advanced 1.2 per cent but not declined 2.1 per cent.

Copper. Two leading U. S. pro- ducers raised their domestic price to 17 cents. Export price 17 l-4 cents.

Bank clearings in Montreal for March last year up 90 per cent and in Toronto up 33 percent over March last year.

Can. Bronze declared dividend of 37 1-2 per cent on common for quarter April 30. Annual rate now $1.50 against $1 with extras 76 cents additional paid Feb. i937.

Montreal Stock Exchange

(lwpliod s, mums a o». mombua ofliilontreal Stock

_ illlQifil CIIDHIIISI») Stocks Open Close B011 T01 150% 180V Brazilian 211% 26" Brm-k Silk H l‘ Pow A 36% 37 Build Prod 691/4 (I) 11111111 Prod 110% 60' (Jan Ccm 21 2i (‘un N01- Pr 24% 24 Cun Cur F11 mm "'5 (‘an (‘ar PM 28% .' (Inn Iiydrn PM 751g 71 (‘n l1 A1 6%. l (m 1m. . 1w, as, (‘an SIUIUII 3'4 3's (‘clnneuo 275a 271,5 nick Plow 21% 21% (‘one Sun-it . 935i 93 Illut Soul: l)on1 (‘uni PM ‘J2 217$‘ Dom Bridge 5R 57%,‘, llnm s1 B 75% 21W Dom Tex WW2 353% Drydcn 17% 18 Eng Eicc A Eng P3101.‘ B Found ('0 ‘JP/n 24% UPI] s: w 15% 16% liumLvr-ar (iypuulii l7 / 11W, Hum Bl-idge 1"“; ""2 How 81111111 31% 1W5‘; Imp ‘Foh H!) l-IU Ilit Nickel 68% 65% ‘I111 Pow i‘fd Luke Woods 31111, 37_ Mira I-Iur 15% 1.1M; X10131" Ff. 1i 103'! Mont Pow 30% 30's hut Brow 401/; 40% hat, St (‘at 50 53 Miranda 76 76%; Pow (‘0 21 21W; Qur- Pow 20% 20 Show 33% 23%; Qt. aw l-i 12!": '41 Law PM 30-15 31W: Non (‘n11 Pow 16% 15% St (‘an s. "h... rm a1 am Win Elcc A ll 6%

Montreal Curb

(Gqplled I] Pltfioil I O0. Member! of Montreal Stool

lxohanga and CIb Mai-bat) Slooba open lilo". Abitihl W); 10% _A1il|vai0a 11.5 lifl _ B A l)ii 24% 24% Ih-unhurnll ‘ll/h 1% rcu‘ Corp

Iiulh A 22 H! (‘an Vick

Dom To: I614 H11‘ Dnn A 181/; l6 Fraser d4 43 l-‘rziser V '.|.‘ C 44 44% Ford It!“ M“ llir Walk

Home Oil 196 200 Imp Oil 22 22% Int Pew 88 86% Mrlchera A

ca (NA 50%

Price PM 1G1 162 Rn alite 41% 47 En Ilnd 31 32 Bobt Mitchel l? 27

DOW JONII AVERAGE! ....

Woods-Beads in! 00-)

8 II d b ( “m. r y 1.29.

lmluntrinls 186.19 o8 (411111 B1 (I! off M. Uliiiiicq 31.74 of! .84.

Creamery For Sale By Tender

nndgralgnell, will bo received up \o Apriliitihforfhsporohaosoftho factory alto, plant and Qilllillllaat of Motel! Creamery. lilo oomprieoa one acrs of land. with factory unnam- full! qlllllml with a! h data plant in excellent repair.

For farther particulars apply lo undersigned.

IIDRENOI MQGIATII, (Administrator of the Illllc OI Thomas MoGrath)

or .

Ii. F. MacPl-IIE. Solicitor, Riley Bldg. Charlottetown

14-1103-4-2-6-7-9-12-14.

MARKET BULLETIN

(InadIioIIWoab-ldbanlfknpaw Special

WIN)

BANON AFTERNOON LETTER

Lack of offerings on this morn- ing’:- sell off in New York should be followed by resumption of the advance-

Celanese, of America now 34. United Airlines now 20, and Na- tional Distillers now 34 have all shown signs of steady accumula- tion and are in positions for ‘an impressive markup once the mar- ket resumes its advance.

Steel tonnage is now being turn- ed out at the 1929’ pace. Strong demand for steel is expected to continue for soms time to come, according to Brookmire Economic Service.

The ease with which copper shares sold off in recent weeks at- tracted a lot of shorts who in the last few years were. forced to cover hastily alt advancing prices. The coppers point higher.

O'Brien continues to move tn- wards its top price. Additional buying on dips should pan out profitably. ‘Traders interested in Paper Stocks and willing to exer- cise patience may consider Bath- urst at the current level.

The steady demand for Wood Cadillac in the last few days sug- gests that the stock will now 1e- sume its advance.

Banon.

Flash-The union has asked the General Motor: strikes to ietum to work tomorrow.

Dow Jones.

To all U. S. Government bonds continued their decline this af-wr- noon. Ten issues were off more than a full point. All issues that opened set new lows for the year.

Dow Jones.

Huh-Yellow ‘Pruck and Coach C0,, a General Motors affiliate was closed today by a stay in affecting approximately 6,500 workers.

Dow Jones-

Montreal Stock Exchange divi- dend declared Canadian Bronze Co. Ltd., Common 37 1-2 cents Pre- ferred 1 l-4 per cent payable lst May record 20.5 per cent April XD dividend. 19th April 1937 for quar- ter ending April 30th. 1937.

Suspended from dealing the Pennsylvania R. R. Co Rights final sales if any follow.

Fiash—Understand Imidon has been a big buyer of Abltibi Com- mon and Preferred.

Commercial Solvents Co. has ln- creased the price of grain alcohol "Bplrts" used in blending whiskey 5 cents a gallon.

NOON COMMENT

Market irergular with most issues showing deciinps but very dull at the lower prices.

Some buoyancy in the paper and rayon stocks but the market will require better grade leadership to rally.

The continued weakness in Gov. ernment Bonds is disturbing to the general sentiment.

Inability of the market to show I111! rallying tendencies might lead to a selling test later in the day.

Laidlaw and Company.

Preston East» Dome drive west 200 level still in ore with width over thirty-five feet now proven of which twelve feet carries much vis- ible gold. Work indicates decided improvement in values over those indicate hole l4 which cut forty nine feet averaging over $8.00 ap- proximately sixty feet vertically below surface. Very important ton- nage being indicated as on dip of ore zone there is approximately one hundred fifty feet back each one hundred foot vertical depth. Douglas A. Mutoh. Mining Service, Toronto.

BANON MORNING LETTER

For the present I see little reason

-to alter the recommendation that

you buy selectively on weakness.

National Distillers showed a marked improvement ‘ yeasterday. advancing about half a point in the face of a ge px-al dip. Committ- ments in National Distillers at the current levels should prove prof- itable.

United Aircraft was another stock which managed to close fracflonally higher. The stock shows signs of steady accumulation and in general is in a buying range.

Continue lo buy United Airlines at the current level.

Crown Zelierbach shows signs of Joining in the advance underway in the Canadian paper shares. Ad- ditional Commitments may be eon- sidered in Crown Zellerbach-

Oil shares should do better at the current level and on dips buy Standard Oil of New Jersey, Ohio Oil and Pure Oil.

On weakness buy American Can, Baltimore and Ohio. Electric Power and Light, General Motors, Chrys- ler, Public Service of New Jersey, Electric Bond and Share, Celanese, Pennsylvania Railroad. Northern Pacific, Goodrich, Simmons and Southam- Railwoy. ,

In the Canadian dioisioa the papers were again active but on the whole made relatively little headway on the day- Trend hero remains bullish. Minor dips are opportunities for addim to mes- cnt positions in St- hwrcnoe Corp- and St. Iawrenoe Corp. Preferred. Abitibi. Consolidated Paper. How- ard Smith, Dbnnaoofma A and Fraser Voting.

Mcharen rows: and Paper in still behind other memben of the papordgroup and may be picked iii!

aroun M. Tradenabictoamnnopositiom inahighprioedvolatiloissusmay oonaldcrAlasstm-fliestockshows of naming its advanoom

up another

selectively. O'Brien recommended lower down, moved to a high of 9.75. Still a buy on fractional dips. Stadaconaman into some stiff opposition yesterday but on the whole managed to hold up lmpfh" slvely. Trend remains bullish. _ On reactions buy Macassa, Sis- coe, Paymaster, Laguna, Moncta. and Bladen Malartic. Banon.

BARING MORNING LETTER

October cotton closes slightly lower, but has not yet seen top.

After advancing further the gen- eral list reacted 1 to 2 points in the afternoon. The process will probably be reversed tomorrow.

American smelting and Refining rose over 2 points more. then re- acted over a point. You had a chance to buy it near 97, as advis- ed yesterday ,and I would still buy some there.

Anaconda made a new high on the present move. 67 clo ing 66. It can still be bought at or just below 65.

Western Union gives signs of having completed its setback and I would buy a little on any fair dip-

Eltington Schlld sold 14 1-2, clos- ing 15. Buy on any little dip.

Hollander closes slightly higher. Still a purchase below 29.

Standard Oil of New Jersey, which you should have bought early la"t week. below 70, sold above '13. Hold for a new high.

Standard Oil of California, which you should have bought below 45. sold at 48 and can still be bought near 46. Also hold your Seaboard Oil, which you should still have much lower d'wn, as well as your remaining Texts Corporation.

Warner Bros.. repeatedly recom- mended around 14, sold again at 14, closing 15- I expect 25 for it.

Todd Shipbuilding, 0n the curb, should go to 90. Buy on dips.

Barnsdall Oil. may be bought around or just below 32 for near 50.

American Hide 8s Leather sold 11. and i‘ still a purchase near l0, while the preferred rcse 2 points more, to'54 1-2. -If you missed buy- ing it around 49 or 4.8, as advised before it got there, buy some if it reacts to about 52 again.

Chrysler lost today what it gained yesterday and I would still keep out of it and also out of Gen- eral Motors. also Scars Roebuck. Brooklyn, Manhattan Transit sold at 43 ex dividend, equal to 44. Buy it around 42.

South Porto Rico Sugar was up nearly 2 points mcre- Keep long.

Loews which you should have bought again recently around or be- low 76. as advised, sold at 80. Hold for 90.

Fairbanks Morse has had a big sctback. Buy it at or below 60.

Worthington Pump rose nearly 2 points more. Don't sell yet-

Otherwise last night's advices hold good.

Baring.

Copper abroad 17.225 to 17.175.

Flash—Commencing today Ott- awa Valley Power 5 1-2-70 will be traded plus accrued interest ex- ceptions Nos. 12 and 13 whclh will be paid May 4th-

Official statement by Asst Pro- duction Manager of Royallte rays Dalhousie No. 8 will not make a n- mercial producer. Dalhousie now selling at $1 in Vancouver. 1.1 A. M. April l, 1937.

Funds l-8 discount to 1-16 dis- count. Sterling 4.88 7-8 to 4.89 3-8.

Plum-General Motors officials report today that 3 new stay in strikes in their factories at Cleve- land, Pontiac and Flint had thrown 17,300 persons out of work. Details as to cause were not available im- mediately. Strike began early to- day.

Aluminum Co. of America 1936 net income $20,866,936 agaimt $9,- 571,206 in 1935.

Foreign Exchange-Sterling 4.89 3-8, Miirels 8.15, Canada 1-16 premium.

London quiet and firm. Inter~ national where changed were above parity levels.

Dow Jones

Suspended from dealings, Tid- water Assn Oil Co. 6 per cent Cum Pfd.-stock $100 par value-

The Electric Auto Lite Co. 7 per cent Cum pfd. stock $100 par value.

Stricken from the list, Eaton Mfg- Co. Common. capital stock. No par value thl: security was suspend- ed from dealii\gs on Oct 13, 1966.

MORNING MARKET LETTER

Prices dipped in the last hour yesterday but selling pressure was not great and on the whole the day's performance hnd some en- couraging aspects.

Strength in the Base Metal group was the feature of the mom- ing aided by the advance in domes- tic copper prices to 17 cents and indications that the tight spot sit- uation in the marker for most of the base metals may be prolonged due to rising domestic commercial demand as well as the firmness continuing to show in the London market.

The Oils acted well. Earnings of most oil companies for the first quarter should compare favorabfy with the some period last year due to higher prices and some increase in volume-

Over the past two months pro- duction expanded at a rate which caused some apprehension but a slighfdecline was shown for 17st week and the principal prodding states plan_ to reduce output dur- ing April.

The industry is approaching what promtsu to be a record gvoline consuming season.

While we think the market is showing a gcod deal of firmness. it probab‘y will show a disl" ‘- tion to await a decision on the

UE FIVE Q

ROUNDS.

made for it.

I CLARK c1011) MINES 111111151) l Special Bulletin i I

Diamond Drill Cuts High Grade West of Shaft g Five Feet of High Grade Ore Intersected by

DIAMOND DRILL AT 381 FOOT LEVEL 50 FEET WEST OF SHAFT CONFIRMS THE OPINION THAT AN IMPORTANT ORE BODY LIES BENEATH “TABOR LAKE” WHICH CLARK GOLD MINES SUR-

Recheck of Drift 125 ft. level samples across width of vein assayed up to. 4.66 of gold (value 163.10) per ton. ozs. gold (value 45.21). Clark Gold is steadily justifying all laredictions

With their large modern mining plant now in full operation on under ground development. work and discovery of high grade on both east and west of the shaft and encouraging. Dia- mond Drilling results on other parts of the property, Clark gold has become a potentially important gold mine in the making and is in an advanced stage of developmeni, '

The current offering price of Clark Gold shares is 50 cents. shares as a particularly attractive mining pur chase.

Island Securities Bompany ltd-

The average assay was 1.291

'1

We strongly recommend these

INVESTMEN T BROKERS

Direct Private Wire Toronto Ticker Service

20 Utilities high 32.43 low 3i.- 88. last 32 08 up 0 22. 40 Bonds 102 l3 off 0.05. Dow Jones.

Banks

SHERWIN INVESTMENTS, LIMITED

NOTICE IS HEREBY GIVEN that Sherwin Investments, Limited. will make application to the Sec- retary of State under tho provisions of T118 Companies Act, I931 for ac- ccpianc of the surrender of Ill (iharier on and from a date to be fixed by the Secretary of Stak-

DATED at Charlottetown this 30th day of March, i937.

W ROY DILLON, Assistant Secretary-Treasurer.

asn.

to bw ,Wagner Labor Relations Act ex- N-i56-i-2-1i

t

BRACE Block, Queen S1109‘ P110118 1122 CHARLOTTETOWTJ, I'.E.I. ‘

s1 - pected next Monday and the‘ ‘llnlrlftfv 19g clearing up f the Chrysler strike. .’,.;. 1:, however, if qofferings dry up o1 “h " s; l" moderately lower prices this morn» ffm- i llrtig, tfhere vlvloulél be! ailfjair posslbil i $9.} .,,_'-,,,|,.""”""'

o a ra . g '0.’

‘Ill/e think ythiftfleygteigdays set- ‘WW w w“"'u“ T 0°’ Jiff)’ ma; in the steel stocks was a nat- _,,,,,,,_.,,., .511 ural sequel to the sharp advances .».-i.-| Uu-ille Z150 i urf in this group in the last hour on “Mk, Clnue '1” ' . ti" l ‘f. , _

Tuesday and upside leadership I {.;j‘_’,‘,}I_'.,"“" 5,1,’ ,"',,',I;',,,,,,, might develop again in this group. ‘wflf _ m3" in-i- i‘1'u\\'D 0 1:1... \| Laidlaw and Company. _‘\,.'L.',,'_,','-"" 1m» l 1*" “""‘ ‘\‘""'. _ smut-m 10" jig-ii,’ If}',',',,,,!"§"""e summaav 11,‘, s...» w. W...