E BRUARY 21. teas l

STERDA rs STOCKYFB OND Q U

MONTREAL EXCHANGE

_ |, qmqlsn ’s special Wire) lesion-inmost. M1- Iii-WW" ed unable to make up their mmdg as to what course to pursue on m; Montreal Stock Exchanses may and listings showed s. some- what mixed trend. Gains and loss- " were about evenly divided at the rioee. A narrow sell-off ooeurred at m mum; as dealers withdrew Mm activity, allowing the market lo drift into lower territory. Equipment shares were a strong Emu-q early in the day following n, from New York their; a rtqe in railroad ears was ev- $.11. in the United States. Profit- ggglng combined with realisation a condition need not neces- "yfly exist in Canada, to reduce the early gains and only narrow ad- vances were in evidence at ose. d“ has been the case for the wet Week, leleeted stocks were the main point of interest. Dominion Ooai wand at; points to a new high of 14o before easing to 139 and Al- bar-ta Grain Preferred was up 1 1-2 points at 23 1-2. Stock sales totalled 17,095 shares:

wade $9.9M

GRAIN

(Johnston and Ward) CHICAGO Feb 20-

Wheat;- lligh Low Last ... ... 085i 00% 07 u" . . .... 91-,‘ 001,, no; .\ Ivy, .'.I. e251, s1 m4 . . . 111$ 111,1. Oats Hay :7... ... ... N 51 51% July ... ... .. .. 44% 43% 43% Im ... ... m; sou, 40V. WINNIPEG, Ieb 20- Whebti- lllgh Lnvv Lnllt In! ... ... ... ... 57% 32% 82% w! ... ... - . 82% 25g h2g4 Oust- Isy ... 1.. ... .... 41$ 40% 41

“NADA YROVINOI OI‘ ‘SINCE EDWARD ISLAND

o. D. 285

IN CIIANCERY

Before the Muster of the Bells.

Annie McLean and Ors Complainants

Margaret hlcClcavc Defendant 11y virtue of an (inter of this Court dated the 14th., duy oi‘ September A. 1)., 1034. it was ordered that the l-lstnte of James Murdock McLean late of Broolrficld in Queens County should ho admlulstrrr-il in this Court sud that ail accounts ll'i(l claims sl- slrist the l-lstntc sirould be received and taken by tho hlaatrr of the Rails, all creditors of the tic-consult or claim- ing any interest in his csiuiu urc- lit-rc-

(3! Johnston alghdfiwuqv, Mud.‘

IOBNIN GHAVIKII 1,111!‘

NE\V YORK, N, Y,‘ Inn with. iadiéket Xas reactionary all d" y“. n] 57.. ctlvity was 1"";- ghn on h B‘ ‘lg/I Preceding the gold decisions

“ ° Dace established on Monday "More!!! was not maintained. Clos- ing prices were near the lows for the lily. Ellie proposed graduated Corpoy. ation Tax did not help sentiment even though there may be little likeli- hood of its being dared.

It remains to be seen yet jug; how much general business has been ra- Qlfiled by uncertainty over the Gold Loses. If a renewal of the advance that began curly last tall takes place, s good background would be provided for higher stock prices. Without this deveio rnent, however, the market can leééiglney go forward far from this

Laidlnw and Company. SUMMARY

NEW YORK, N, Y“ Feb. 20-—Nst- lonul Biscuit Co declares regular quarterly dividend of 50 cents on common;

Stockholders of Wilson and Co ap- prove marginalisation plan.

"iron Age" suys steel operations during pus: week declined three points to 501,1, percent of capacity. Chesapeake Cor? declared s quart- erly div dcnd of li cents on common placing stock on $3 annual basis ag- ainst $2 50 previously.

Prices filed so fur with American iron and Steel Institute for second quarter indicate practically no change from first quarter prlccs_

American Petroleum institute for wock ended Feb. id estimates asoilne stocks at 62,418,000 barrels, ncrcase 1,004,000 barrels over previous week. Chesapeake and Ohio January net income $1,000,053 after charges ag- ainst $1,013,088 in Jan. 1034 Declared regular quarterly dividend of 70 cents on common. -

United States Steel Corp u proved recommendation of its su sidlary companies for appropriation for cap- ital expenditures of 841,000,000 for improvements in alteration and mod- ernisation of their finishing plants.

Samuel Scabury, Special Counsel and A. A. Berle, Jn, City Chamber- lain, in report to New York Board of Estimates name ca ital

prico of $135,000,000 net for scqu sit- lon by the City of Rapid Transit and power plant properties of the Brook- lyn-lilnnhai-tun Transit Co.

, U. S. Electric output up 7 3-10 percent in week Feb. 10 against; 0.840 pcrcont in previous week. High Low

Last Off

30 1nd 107 3d 105 b0 105.20 1.28 20 Rails . 34.90 33 till (iii 08 .75 '0 lilll . 10.79 10.21 10 25 I46

Dow Jones.

BANON SAYS

MONTREAL, Que, Fob. ‘iii-Intro- duction of the Rayburn Bill in Cou- grcss to eliminate holding compan- ies depressed Utilities to new lows and dampened bullish sentiment in general yesterday. The market ran into a supply of stock with volume. of trading, however, showing a ten- dency to dwlndle us prices receded. Market action continues bullish. After some further irregularity. rob- abilities are strongly la favor o ear- ly resumptllon of the advance. Any weakness which may dovclop in this morning's session should offer op- portunities to add to present posi- tious. Buys, Atchlson, Am. Smelling, Westinghouse, U. S. Steel and Loews. The gold shares also ran into a wave of profit taking in yesterday's

by ordered to come in on or hofnra the fifteenth day of liiurch A. 1)., 1035 at cicvcn o'clock in the fnrvnoou bo- Iore the hiastcr of tho-Rolls at Llls l-n: iu (‘harlwtintmru in Queens (‘nuuty to prove their rlcbia nr- claims otherwise to bu excluded from the benefit of said Order and barred from u ‘ ' :\|x_\' claim nulrust tho sold astute in this Administration, lint-ed this 20th February A. D, o.

DONALD DICKINNON

Complainants Solicitor.

LEITK E, BRECKEN

Registrar 14-4733-2-21-28-3-7.

session. Prices, however, showed de- cidedly more resistance to selling pressure than that offered in the In- dustrlals. The technical position of gold shares remains strong with the probabilities favoringa higher level of prices. (‘nntinue to huy golds on all reactions. Buys, Dom-z, McIntyre, Brulorne, iiiacassa, Hollinger and Norumla.

Banon.

Mt’l. Stock

ge (delusion and Ward) ~ - Stocks o Last Btlin . as lib-Jul 15o a‘; Basin -»- .. 14a I o ,. AS300 B 651W u. 1-. ... ... 7 Tlungs W Pflfll’ ...‘.i"t".‘1!i"':...'.:'.':'.':"..‘l it’. can; 77¢... ‘Z1. scum . . as iltook Exohnuga. llontreal (‘lsrh In: Bu”, corp Pgd n‘ n - 3y. Sylvanlte n, u, , _ 344 satanic BNIIIIIOINI sum. Chsrlotto- mew c; P, 18% my. Teclr Hughes lie ' But Amer Oil .. 15% 15a “m - BN5; ——— Gan 1: {Brew .. ex 2m T°W=1 -- 3 Ibwaflunfic ... no ... t. Bonds Bell Tel . l’ f” Vwnmn .- a Dram Bras '1‘ 1- m Ventures as Labels BOPowA Wflelimu Badg B c Pow a . Blotter: Bruck Silk . Dedaen Build Piod . . ("MIMI Gan Brenu Booklets cm ca; Placards i Q“; (34- Circulars r (angel Vouchers i can 9e; m“ Bu“ I 0m 0cm Prloo Lists i om om Bill Heads ' on, 1nd Pamphlets c-n Ind Al '_ Prise Lists Om PM __ Hugh“ w, 399 Home Oil . so WWW 1’! Walker Good mi rm 11% H" 3W - - 1250 0m‘ BW-‘li- -- Walker Brew a-zs ave Kirk TWH 2e Dryden Paper .. wright H”. 90o 900 Lmaron" 3 Dom Bnidden“... Label . r- SteelOouIB" ’. ouse1........ 4 £52‘? __ Miscellaneous ..., a,’ _ m“ flee - - Pend so Gurds . . (cumum hm) Pore Cm ... 334 Gvnem mowmnsn, Feb. 2o- Preewn 2a HOW EIIJMLPIQ .... wh$tnm-n°3gq_ Robb Mbllli . 3% He: Indie nmeyownqseo. roman“ m Ho" 0°14 WW OMsOWnoZ sa. Bind» .. .. aou IIIJNWRQI- °M‘Qwn°3“_ Bildllflnfl." 5r‘ lrrdilPdwPfd . aufeedmlgt Viokers ... ... g Mallet! n n‘ _ _ “F3311! spring wheat patents meta Wood Kirk .. 4% Moat Pow ... 81 81% jvqqin-xcmmu_gp_ I -~ ' Nihtl 816W ... -- M 33% nourbakvnu_go_ J u K m 5kg)?‘ --- -- Pa,‘ ‘a: Flour winter wheat patnnta . H" Y choice uaotsuiso. -_-- glam 1g“ rm: white corn saeo to woo Mo (omens ma.) 9e 14w Arm 6* " emmwtdruaaaiégswmqqaéfi. on the two outfit mar- Biwwh .1“ "u. Milddiinge ton was to sent ken today totalled as head. m- Bhem" mum cots m so lbs one. ceiw were composed of 1s cattle, y‘? $18.13;“ m‘ Hay no“! préézifeinfisutiaso. 13:‘! m; as bogs and 1 sheep 3W“ d 0°“ u‘ Oheese mgr-ulnar flit. ' The rev/cattle offered were oom- u“ m, gutter no i 8'0 in :14. mon steers, our: and heifers. Prices 00mm -" -- tter no to . were unobange . "vim! ~ l" as‘ m cartons A l large a Calves were mostly 01.50 m me- NW! w» m" m“ 1gp A 1 medrm as. dium to medium good quality vefls. --~-- 1" Ispsrpuuus as. Padlfed oslveswiflrssiodd oom- Build m‘ u spams-u. moullght veal, monsbt w. Atew ______,____ by A medium in. good calves brought ll to 08M. 113s .' pallets 2'1. Ionr good ewes sod wethers were Deacon combines-whoa r waa Ian n 1am 2a. sold at w. sum "More u. yqmgnwaseooslderodalnte Iqslmediuuil. Baoonhogswssetlootedsnd dense, l j O I0. watered, with t1 premium on eel- . ma; stunner-only that! '11» Potatoes Qns 00's ss-eo eats. Butchers, hesvies and lights - ~ - . . . . . _ _ _ _ , _ _ _ _ _ _ _, way some people dance sow I a I! and? B! 00's Iii-OI. were til, earn beavies $1.00. Bows ' Ifhfll IIIfliI-‘D. A$u Idfllfl- _ _

MARKQ cosszr

‘actions.

I

BAKING LIITII I Tuesday Inning

NEW YORK, lreh. ik-Whest closed half a cent lower and corn lost ah- out a cent. Both might react a trifle further, but they wll soon resume an upward trend. December Cotton clos- ed 10 oints lower and may react a little urther, after which it should also do better.

l said yesterday that the Industrial averages should not react below 105% which shows that l did ex cot a nor- mal reactlon after the vvld advance that followed the Gold decision. People who Jumped in and paid over 0 50 for Atchison shortly after it sold sold at 42 or paid 03 for Case an hour after it sold at liii acted hastily and ill advised. Such foolish buying al- wu a has to be corrected before s ins or advance is resumed. Today these averugcs go down to 105 50 clos- ing slightly abovo that. I am confid-

ent that this technical setback will culminate at or Just below 105. Fairbanks Morse of which you

should be long around 18 made an- other 110W high 22%.

Don't take profits ,yet. Brooltlyn- 1 Manhattan Transit rose to 44% while lnterboro rose nearlv l; points. Uni- fication is very IVBJ‘, u». --ng

Case reacted nearly enough, Start buying around 58, Johns hisnviile has also reacted enough, buy it below b2.

Western Union con be bought ar- ouad or just below ‘:0, rad you can buy Celancsc if it reacts gain rmar 30. Atchieon should prove n purchase around 45, Nickie Plate pfd nenr Z8. Amn. Gas and Electric went within a fraction of last year's low cod is not likely to sell much lmvrr i mtinue bullish on General Elec, Westing- house, DuPout, Bethlehem Steel, U. H Etecl, Am, For Pr. 7 percent pfd, Allis Chalmers, Phillip lilorris, Car and Fdy pfd; and would buy them on any further dips.

Banon.

BANOXWB "NOON LETTER’

MONTREAL, Que, Feb. 20—'.l‘hls morning's narrow fluctuations should continue for another three or four hours. Nothing, however, has occur- red to ultcr the view that; prices are headed higher. ,

Recent uncertainty generated by the Gold Case trial resulted in the postponement of commitments by or- ganizations and of purchase by in- dividual consumer who bad looked fnr- lower prices This deferred buy- ing should pr-ovo a mildly stimulat- ing force to business in the weeks immediately ahead.

Can. Notional and Car Pacific Wye are developing a new type hentcd car for transportation of fruit and vege- tables. the Canadian Horticultural Louncli was told yesterday in the re- port. of its transportation.

British Columbia Power Cor-p re- ports not. cartilage for January at $421,260 as rampart-d with iiiitlditl: In January of last year.

Radio pfd B acts better than aver- "RO. Ucsplto the extensive advance already registered the stock has by no means exhausted its possibilities murkctvvlse. Buy it on minor r-e-

North American is holn depressed by nervous selling. Any selling how- cvcr which may be considered might await a better level.

Tape action of Chrysler and West- inghouse is excellent. Negotiations have been practically completed by the National Distillers Prods Corp, which will secure for that company the r-lght to malro gin in the United l-ltatcs under tho formula owned by W and A Giidcy Ltd, of London. The deal will grant National Distillers rights to use, the furrnulho for the manufacture nml distribution of the product. in the United Status.

In the United States the deferred "li':l"l tor 1:ii‘i|| machinery in lust four years is estimated at $700,000,010. min‘ l. s. l-i‘ c u d wuuav- m-ontloverey is ovcr tmrlora are directing their attention to the Railway Pension Act which is the next problem to be sett- led by the Supreme Court. possibly on liiurch 4th, Will the Supreme Court uphold a lower Court which has al- ready rendered a decision adverse to the Admlnlstrntion9fl

Bauon.

1W'I"L. CURB

‘rt-m CHARLOTTETOWN comma

Markets At A Glance »

(Canadian Pull) |

stocks clued higher.

Toronto hlines-lrlregulsrv l0“!- Naw York-Nov“ c » Winnipeg-Wheat down lower-

New York-Cotton sud coffee high- er; ruhln. unchanged.

iwuvuvc

Bralorm .- B R X ... ... .- Buff Ank ... ... 292

Bunk Hill . 4 CsuMul . 64 Castle '1‘ . 61 Gen Pat 123 OhmRes ... 214 Ohriboug ... 13

Olericy ...

Fed K.. ..

Godslake . .. 169 Goldale . . 16% C"aham . A Grenad~ ... . , 14 Grandoro a

Greene - Gonna-r ... ... . Halctow .. .- Harker Hollinger .

Howey

Int M 0 .1’ M00115 .. Kl-rlr Lake . Lakeland L Shore .. lZ-amaque . Lee Gold Little LL ... ..

... use ... ..-

Maple L ... McIntyre .. McKenzie .

Read Auth Reno Gold Revelite .

Toronto ‘and Montreal-dad -‘-ial "

Stocks Opened Last NEW 103K .... ..; .. (gum-m h...) Au- nea .'.. .1 54 nay, ' s mmwro, m. 2o- jfifmcfififfl 132*‘- i“ Stocks film tic .. 5cm ,_ __ r an . Ne: on ' gar gonad .. --- ' or ow Afgoma o POW Light Angqlon Iladioutor "' ‘ Smelt Bfg Ashley ... . Sugar ell) T BlZGEIIBO .--

N. Y. Stock Exchange

(Quotations furnished by Iohustol and Ward members of the Mont real Stock Exchange, Moutres Curb Market, 156 Illobsuond Street Charlottetown. '

Am To B Anaconda Cop . hlson Auburn Auto Bald Loco Bait Ohio Barn A .. Bendix Aviation . Beth Steel Briggs

Byers A lil gurr Aidd Much

East _Kodak lillec Auto Lite Elec Pow Light

Erie ‘First Natl Stores . Freeport Tex .. 9g Gen Asphalt ,, 1,; Gen Elcc 1g Gen Elec g4 Gen Foods . 211% Gen liIot .. .1114 Gold Dust 115g nb ... Goodyear Rub . . 221;,

Graham Paige . Great \Vest sug Houston Oil Hudson Mot.

si-

Johns liion ... Kan City South .. Kclvinator Ken Copper Lambert Co Lig Myers B . Liquid Curb . . Loews Incorp . Loose Wiles Bis . liiclioesport Tin

Mack Truck . Math Alkali . Miss Kan Mont Ward Nash l\lot Natl Bis . . . . .. Null Dairy Prod .. Nntl Pow Light '95; New Huvcn . 01/, 0% New York Con 1S 17 North Amer . 101,1, 10% ‘North Pac .. 171,3 1/, 4% 4% 211k 21% 221A 21% 13V: 135*’: Pullman Co 40% my, Radio Coup 6% l5 Radio Keith Orph . . 1 17a ltep iron Steel .. .. 1211 13% Safeway Stores . . . 4'2 42 Sears Roebuck 35% 35% Co 0% 0% Socany Vac 13-14, 131... South Pnc 10% 1054 South Rail P1X; 12 . 15% 31:2 40% 20% 34% Tim Roll .. ‘i. 34% Union Curb Curb ... .. 48% 48 Union Puc . 100% 90 United Corp 1A United Gas Imp . U B Ind U B Bub U S Smelt U 5 Steel

Van Steel . Warner Bros Co Warren Bros West Union West Elm . Woolworth Co

.___i._______

EXClllidNGE

MONTREAL, Feb. 20—Ba'itish and foreign 930011111139 in relation to the Canadian dollar as compiled by the Royal Bani: of Canada closed lode-y as follows:-

Australia. pound 3.9021.

Austria sohiiling .1891.

Belgimn beige. .2344.

Brazil m-ilreis .0610.

43mm Hang Kong dollars .4515.

Czechoslovakia crown .0430-

Denmark krone .2185.

.0862.

Germany reiobsnark .4000.

Great; Britain pound 4.8875.

Holland fiorin .6785.

r-runeerv pence 498°-

Indie. 11111199 10°9-

Itslli lire

Ja-pazr yen . . '

New Zeelend pound 8.0415.

Norway krone .2456.

Poland sloti .1900.

Booth Africa pound 4.8650.

Spain peseta .1812.

Sweden krone .320.

Bwitoerls-nd franc ease.

United States 110110!‘ Pa?»

NEW YORK, Feb. ilk-Foreign gmlmnge easy, GP-It Brirtain de- mand high 4.88 1-8: low 4.88 1-4; clue 4.88 0-8; G0 day hills 4.81 8-4; Fnnoe fmne 0.01 'i~8; Italy 8.46; Belgium. 23.41; Germany v0.26; Oansda 100. I

PRODUCE

L_

s

TO DEVELOP A NATION’S NRESOURCES

d» benefits derivable fiom the use of i: by; establishment of bunches and agencies s: arch polars and launch localities as appeared to them hes: a and assist rb; agriculture and rom- merre of the oouuuy, to develop in resourcu, and to pro- mote dae increase ofjirs esportabi: productions..."

in i842, following the union of Upper and Lower Canada, when the Baal: opened a branch ar Toronto to succeed the agency there, and established oflices in nine other cities of Upper Canada, the Honourable ‘Peter McGiil, then president ot’ rhc Bank, explained why the directors had entered upon a policy of establishing.‘ ‘ or agencies in the then western province;-

Bven before the union of Upper. and lower Canada, the nsuady to encourage those factors io rude which would contribute edecriveiy to the ap- builcling of the country-a purpose which is as strong today as ever.

r

“The lxgislsnue having v. ’ on the Bank important privileges, and authorized the creation and employment of a large capital, the Board, instead of concentrating ltsli in the large dries, felt i: to b: their duty gradually to mead

BANK OF MONTREAL?

throughout the ,,

calmlaoedro

Feel:-

sought,

ESTABLISHED 1.811 HEAD OFFICE) - MONTREAL MODERN, EFFICIENT BANKING SEltVlCllnntlhc Onmomeof

117 Years’

Charlottetown Branch: A. I. B.

‘ ‘ Open-scion

BELCHER, Manager

.-..:_-

cenir,

18 cents The butter market was quiet and unchanged B-t 35 £0 pound for grade. Receipts totalled 22 boxes- Soiids sold for and prints roi- 2'1 ceciia. No 1 Ontario cheese at 11 1-4 cents a pound for fall- make and 12 1-4 cents for summer receipts.

Quebec white potatoes were ag- ‘ain 55 to 60 cents per 80 pound bag and New Brunswick ince Edward Island mountains 60 to 65 cents for similar quanti- tilcs. Prince ell-pound bogs sold for 65 to 70

and C i6 cents.

25 1-4 cents a oariots c; less of no 1

MONTREAL. 26 6911b fl DWI“: pound sterling and tlonelly on Montreal changes today while

continu '

and at 6.82 cents.