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awarded durma thr present Year's»- , however, is still very much below the The large bulk o! the 8111191"! 811i)- comparative figures ior manyi plies are found in tho United ‘yum-i States and Canada. At June 30, the i There has been a steady improve- end o: the crop year in the United ment in the lumber industry and States, the carryover will be about the immediate outlook is considered 360 million bushels, and at the end more favorable than I01‘ years. The domestic demand has be as much. as 160 million bushels.

Business Conditions been better and the export rnar- In other parts of the world supplies

C d 'ket has not been so active since the are normal or less. It is the question n and d I Lgpflng of 1929. 1t 1s estimated that as to what is to happen w the wheat "--" 'Pacliic Ooast mills sold over 70, in the Ulnted states and ' Canada March 413, April 41.2, May 543. mmion met o: lumber during Maynlthat has aroused world-wide discus- Ju-"e 63-5- The United Kingdom was the heav- sion. _

. For 1932: increase in orders The United States has practically Zrgguszglélzjoazfigalupzifsi-hthg Wholesale price index, Feb. 69.2, fit,,gb",§§,,;hf,,,g 1g u; IQpOfiGILLWLOhdXBWH from the world market. seasonal improvement in employ-l Liam‘. 691' Apr“ 682' May 67A’ '0’ m" Brmshembarg° 00am“ Bus‘ on “m?” m the Pr!” o‘ cash when inent and an increase in both the! June 066'. . ism“ timberjammctory orders were , m chlcago was 78 1-2 cents’ which “omme and unit value of exports“ Automobile production, Feb. 5,4‘77,‘= also mceived from Ausgranb,’ squtyymight be considered as the equival- me evidence mm u, Show um, the, 100"“ 8318- Alml 6-810 MW 3121- ‘Africa and china. Business rromfnt or a Liverpool price of approxi- flué o! business h” turned and,‘ June 7010' ‘Japan, however, has been lighter mil-tell’ 90 Gem-l- bl-lfi the WW3! ‘that its flow Wm quickly spread to‘, Newsprint production (thousand ,1,“ for some yea” pflces ue‘price prevailing in Liverpool on those parched are” which have. tons), Feb. la9, March 161, A-pril strong’ and‘ B5 avuuuble 5mm atefCanadian No, 2 Northern on that not yet mt the ‘mplnvemmt’ The 177, May 176, June 161. ‘comparatively smug‘ mp1s in vgu-‘dflte was 68 1-2 (US. funds.) increase in ‘Emmy of business m“ Construction contracts awarded ‘ums parts o; ma wumry are com. The only possibilities under which gem" with the muluenoe of u“ 1000 °mm°d0 Feb- 514-803 March mcncing operations. Should the de-flilhefl-t fmm the United suites ‘>831

much greater improvement m the $10557. April $19,113, M5)’ $14.135..1nuud continue it 13 predicted thug be marketed abroad are: (1) A fall

(Royal Bank Letter) With a rise in the prices of agri-

Bprlug wheat seeding was consider- ably delayed by inclement weather, the acreage sown was somewhat smaller than in 1932 and the grow- ling wheat has been injured by drought. Even on the basis of an average yield ior spring wheat, the total crop of the United States can-

not exceed 600 million bushels, apw

proximately 100 million bushels under normal requirements. ‘The most pessimistic reports have placed the total of the current crop as low as 500 million bushels. The crop oi’ 1932 amounted to ‘I27 million bush- els, and the five year average t0 874 million bushels.

I! it is feasible to disregard the possibility of exports from the Unit- ed states, the world carryover can- not bu regarded as abnormal. If the dry, hot weather now prevailing falls to alter crop prospects mat- erially. there will be something like 400 million bushels, including the

several of July the carryover in Canada may carryover, available for export from

Canada during 1933-34. Under these circumstances it is fortunate that supplies in foreign distributing centres are low. and that excep- tionally large crops are‘ not ex- pected in most producing countries. In Lurope, the total area sown to tall wheat showed little change and ‘winter conditions were generally ifavoumbie. Larger acneages were reported for England and Wales, Land for France, but weather condi- tions in the latter country have been poor and unofflcial reports indicate a decrease 0i’ 30 million bushels in this year's crop as compared with 1932. Conditions are better in Ger- many and Spain and average crops are anticipated. Italy looks for a |good crop, although the quantity

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. June $12,155. {woods operations will be more active in the price of wehat in the Unftgd I harvcsihd W111 be IGSsWDBH the 1'60- gzgitteedanStztltéimgas tirzdzd ti‘??? Carloadings, first two weeks in durum the comm; “uuter mun for States to the world price level. Since iord established last year. A larger hel to god“ mnyrthc 1:‘ 5e each month ithousonds) Feb. 81, ‘some years‘ [the Government of the United crop is 0.150 EXPBCWI! 111 the Dami- mfllz: P Ce er PIOVB‘ March s4,Api-l1 83, May 85, June 86.; Landings o! huubu; u; Pflnce States seems to be pursuing a poi-!bian Basin, where the yield last

In '1“ I t i Security price index Fob. 63.2, Rupert wbaucd 1313900 pounds mHcy which would bring to the farmer 00M‘ W115 but lime 050W dome-Vim rave enzaghy 5 “i” ‘m-“nm ‘mihrnrch 62.9, April 51.7, my 44c ‘May u, compamd Wm, 1573530 gugeven higher prices than those which requirements. Estlnmtes otthe areas. 201M311 bits ozwilmxfgblmmtrither fJune, 42.2. ‘M3,, 19m The total for the flrspnow prevail this does not seem a sown to the individual grain crops e °m°' " -1 '. - t llblbtth tion. It is not until the movement is In m‘? table give“ 00°“? 0’ should lme mom‘? o‘ the year increased ‘ 2:52:23: hitting???’ Vjéorlilhe r!m tlgtguilihialti x31 30,3111: £78315 W; well under way that Beneral stat- be noted that newsprint Production ‘{1'°m_4-043-°0°d PfinfgaainTkllmmc wlnught me to he level or 15100:: to June 1 is reported as 195 mum)“ Lstics ienect this improvement has increased by nearly 40 W ¢@hI-;°’3?°'°°° 0°“ s . ' ° “n7 . l h 1 h u, whxh by that time Wm haw made that, automobile produmon has nu icdian fleet is operating at approx- ‘ggifrgiltrgi iglmmtgzn Ugieteg“ Sltates. t c areest in t e past ree itself felt in _the plans and policies most tripled. construction contracts 3100100! 5o p“ centfapaclty’ Pncesidoubtedly higher .12.. 0th; vsvouulild L Shipments from me Southern L . . . . . . . . . . .. of a great many companies, 1., have doubled and carloadlngs have “e w“ Dem‘- mmlg “s” m!“ p ' ‘ CREAMERY BUTTER . $4.00 to $4.90 per hilndtedwglght, presuppose a world shortage, of Hemisphere have been steady and no Lu __ the following statistics are not t0 $793M)’ millefied- A large Pa" of‘ be Mcelited as indicative of general this improvement is seasonal but land mm" “WW5” B" Enmipflted- which the" 15 11° evidence. (3) The substantial increase is anticipated cuties improvement’ they suggest the u; u; the fact that the unprovemem Salmon canning operations areignitedhfitates; Gtemilnentl might Eghihamoun: o! wheat cuqrriedgiieil- ORAKTE treum The corresponding figures ‘orlshoum is greater than seasonal getting under way. The run in the 11y w eat a in rna pl‘ ccs and e com ng season. o o ca Dozen U I Fraser Rum- wus lube‘ but g god-market it abroad at world prices. estimate has been issued regarding last year are included in order that which lands wsubs°flhilal° "l8 "e" g {Aside fro the m hi h the rea sown to wheat in the the two trends may be mmpared‘.opt1mim which is general among run was reported on Vancouver Is-j 1d b m tZPDOS on w c A aw‘ t um h I . SIG O STATISTI the farmers of the West who are 13"‘! omdlt°ns ‘m 0w ALLMM” we“ e encmm red 1mm thwe rgm e’ b“ ° ° “n39 mm unless the abnormally dry hot favourably in spite of the law they were last year. Winter killing “H: 5N1 O5 AND

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LETTUCE 25c 24c

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gwemmenm which °bJe°t L” dump‘ 1932 is expected‘ Mmstum h“ been sveather of June materially affects season. A good crop of apples is was heavy in some districts. The

mnlom ultimate yield. anticipated, although the volume is The report of the Dominion Bur- not expected to equal that of the cau of statistics indicates that the bumper QIOp of 1932. Soft fruits are

l

Canada tor 1933:

“calving a better price for their [Coast have not been so satisfactory. wheat, m the mining industry‘ The catches were generally good, but

which is ruumly mcreusmg its uuu 117E665 continue low. Dried fish!

ing, the monetary loss entailed. would be heavy. (4) It is possible

. l h ~- Wholesale price index, Feb. sac, ‘but. and in the manufacturing arcaslmmke“ “"3 P°°' “s 0*’ "Sm “it at the Surplus Wm be °am°d ‘we’

March 64.4, April 65.4. Mlay 66.9.

o; Canada‘ where orders are being jthe competition of supplies from.‘

in the hope that it will be consumed in the United States in 1934 and

ample in most areas and conditions are generally satisfactory. Austral- lnn conditions have not been so favourable and ofllcial reports also indicate a. slight reduction in

Automobile production‘ Fm 3,298‘ mew“, u, hem, volume um, m, ‘Newroundiand. The catch of lobsters} March 6.632. April 8.255. May, 9,396. ‘he 985i tW° YW-‘l- , ‘ Nevisprlm; production (thousand Nothing that has been said should G010 Prwuwlnr‘! L“ Ontarm has: tons). Feb. 126, March 137, April lwd to the conclusion that revival been “ell maintained. The value oi‘. '14s, May 17g has reached a point where there is [the mm?!“ 007mg me first fiver

ccngtrucmon coutmm awarded .a general increase in activity in all ‘mmlths °f thew“ w“ 0187001200 as‘! vmoo omitted’) peg $3‘149‘ March branches of industry. Most lines of ‘wmlmwd with 5191000000!“ e cm’ ‘$3,192, April $3969‘ May $5514‘ manufacturing are still much de- 1‘@5P0"!-‘11"€1P@Y1;>d1015h T1931 0P9?‘

Cfl-rloadlngs, first two weeks myresscd, but a summary shows hum-u?“ m’ ‘l1 e5 0015 e ‘($00105 n uwh month (thomandsx “It 63‘ leruus yusmuces where improvement ‘other provinces have contjmucd ‘and, Mam); 59, Apr“ w‘ May 74‘ June 8Q is quite pronounced. Agricultural‘! P109055 m5 been made “iv” 0“

security Pr,“ index, Nb‘ Mlmumplement plants have murmseuldcielopment works. Ebiplorat on was

operation; The output o; new mm, 1iushed vigorously all winter. With mobile models was restricted early the 090m“ 0f 5910051“ eqlgpment _in the season but has been cxpand- and 50917005 were Se!“ a“ ma“ ‘ling rapidly. Production in May was Pmmismg FY0300“ are being jthe largest m ‘my month since tested. Every indication points to a. May. 1931. The iron and steel in- Zflilifacgy ye?! for till; 8011:1531“ vdustry has continued to lag behind “cers- 1' a ‘mg P“ a p‘ |the progress being made in the Un- ""3105 M 8°10 have bee“ 30mg 0° ‘sued 5mm,‘ but a recent Goverm the United states to the exclusion ‘menu order for 50,090 tons of ram 0f GPCBt Britain. That Sitlifltiilh hi5 ‘has enabled the Dominion Steel “W! bee“ wmplebely Tevflsedi 53-‘ yuumts to incl-ease operations and 717,810 in gold was sent to Great i recall muuuworkers who have been Britain in ‘May and only $119,983 idle for months. Structural steel w the Unied 5w!“- - Orders are sun curtailed bu; some Higher prices forsilver and other _ mjsceuaueuu, buying 13 mpuu,eu_ metals have resulted in increased UP ,3uud1ug materials a“, moving interest 1n these mines and some ‘slowly but some progress 1s being increase in operations is anticipat- lmade. Foodstuffs continue in gQQd ed if prices continue firm. Nickel ldemaud and plums are busy The sales have been holding up well and; tame industry 15 Opel-anus a; operations at Sudbury have recently {nearly 90 pel- cuug; o; Capacity and been increased from 20 per cent to is on u better basis man fm- many 40 prr cent of capacity. Exports oi imonths. Production of newsprint 11101011 are also better, the total ship- during May was the largest report- 09d in Mill! hmollnuni; 3° 45-676 ed this yea-r. The output amounted “undmdweight “n!!!” 15453 bu‘

His liver happening to be in good order, the gallant Major P

was disappointing, E1935. While the risk and carrying

.tain practicability to the plan men- ‘cents per bushel for No. 1 North-

acreage. churges would be high, the objec- AGRICULTURAL PROSPECTS, lions to this procedure seem les 1933 _ decisive than the obstacles which As always in the past, a major will arise in carrying out the plan rise in the price of wheat has mentioned under heading N0. a. ‘brought- mounting optimism to Wes- Moreover, the small current crop ‘tern Canada. Last December the in the United States lends a cer- ‘price of. wheat reached a. low of 39

tloncd under heading N0. 4. Thcicm, a price which meant heavy present condition of the winteqlcsses to all wheat growers. Spring wheat crop in the United states in» j this year was late, prospects were dicates that the 1933 harvest wilhmost discouraging and it seemed be the smallest since 1904. Ofiiclal probable that farmers would have estimates place the yield at 340 to face another year of small crops million bushels against 462 million sold at low prices. Against this bleak bushels in 1932, and a five-year av-,background came the spectacular erage o! nearly 600 million bushels/rise in the price of wheat, carrying Winter-killing was heavy and ser-fit to a level which seems to assure iously reduced the acreage avallabletmodcrate profits, and later, so great for harvest. Large areas, already inian improvement in weather condi- poor condition, suffered a furtheritions that prospects favour a crop substantial injury from abnormally oi’ about the same size as that of hot and dry weather during Juno-ion, a. comparatively good year,

Sport Shoes

late Indian Army, issued lnnw reportable remarks Dn an interesting subject.

to 171,715 tons against 141,159 tons drcdwolzhtlh May. 1932- The bulk b! in April, 193a, and 115st": tons 1n those cXDOTtB was destined to Great May, i932. In spite of those en; Brhulh-

couraging gains, however, manu- Th” T151718 lflvfll 0f mmmfldlty featuring operations as a. whole prices has been accompanied by an continue on a very rush-Mud busts‘ increase in the volume of wholesale The general improvement in bus- ‘find WW1 tfflde- BUY"! BeIlvrB-lll’. mess 13 bum; rgflgcuvd 1n 1u6,-ea5cd§\\'iieii prices are declining are loath railway traffic. Carloadings dnnnglo do more than meet their 1m-

“Sox may look alike, égad, but they don’t all wear alike. Pm I001’! cox. demmilgthat flidn’t last the day out. Put on a brand new pair in the morn- ing and by the time you came to change in the evening, toes would be sticking out all over the bally place. And, dash it all, it looks so dammed un- tidy.”

That’; right, Major, It does look untidy. And there's no need for It. Just make n point of getting Atlantic: and your sock troubles are ended.

35c. i0 $1

made the best showng since the a further decline in the price level. depression began n 1929. This in- ‘Reports from all sections of Canada crease in traffic is resulting in ShOW B 110W?!‘ deimwd 7mm 00111 higher railway comings: the Can- Sllmefs f0? all time! 0f memhfln- adian Pacific reporting the rirswllse- Bi-‘h-whfll demand may account aln in a long ti e er the o 'for some of this increase but the g m ov c r-i responding period c! the previous improvement has been general and year whcn gross earnings mi- me includes lines not ordinarily subject week ending June 14th amounted w to this influence. It is also report- g2,437,ooo_$131,000 larger than in ed that buyers are not only spend- the same period in 1932. ing more freely but are choosing New construction contracts award- mods oi’ higher quality than form- ed during the first three months of "1?- 1933 totalled less than $10,000,000. WORLD WHEAT SUPPLIES The monthly totals were the 1ow- At the ehd or the present crop cst since January, 1919, when the WM’ U"? OB-TTWVQI‘ 0f Wheat W111 be value gagged below $3,000,000, with the largest on record, yet the past the opening o! spring, conditions six months have witnessed so sharp improved rapidly. contracts awarded a rise in the price of wheat that it in April having a total value olgis now almost double that which 86.800000 and in May $6,500,000. The ‘ prevailed at the beginning of the aggregate value o! all contracts year. This situation calls for analy-

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area sown to spring wheat in the not likely to do so well. Livestock Prairie Provinces decreased by 1,- are only in fair condition as pastur- 475,00o acres as compared with last age was poor on account of the year. Other reports show even late season and hay supplies were greater reduction in wheat acrea- short.

age. It is of some interest to note In Ontario. the weather early in thatln a year when there was a the season was generally cool but decline of approximately one and |conditons improved later and spring onchalf million acres, 471,900 acres ‘work proceeded rapidly. Winter- oignew land were broken. ‘Ihlsikllilng of fall wheat was heavier means that nearly two million jthan last year and growth was slow acres of land usually used for wheat ‘early in the season. Rapid progress have not been planted this year. was made during May and June and Spring wvheat acreage in the , the prospects for the crop have im- Prairie Province is estimated at 24,- "proved. The acreage sown to the 019,400 acres. Outside the Prairie Iprincipal spring grains does not dif- Provinces a total of 251,600 acres'fer materially from last year. Spring was sown to spring wheat and 547,000 » wheat and oats show small decreas- acres to fall wheat, last autumn. es, but these are oflset by increases This brings the total area sown to ‘in barley and mixed grains. At the wheat for the 1933 crop to 25,718,000 moment of writing, these spring acres as compared with 26,646,000 grains are looking well. Pastures, last year. slight increases are re- 'hay and clover have developed rap- ported for oats and mixed gtalnsddly and cutting was commenced and deceascs for barley, rye and earlier than ‘for some years. Heavy flax. The decline in flax amounts yields are expected. Pastures were to about 15 per cent. slow in development on account of No great loss has been reported the late season, but a. shortage in from soil blowing or drifting but ex- feed supplies forced some farmers ceptionally serious damage from to turn their cattle out early. Grass grasshoppers seems a possibility. is now plentful and livestock are in Extraordinary precautions are being good condition. The weather in taken in infested areas to deal with Quebec was more favourable, and this danger in all three Prairie meadows were in better shape at Provinces. During the early part of the beginning of the season ‘than

acreage sown to all grains is some- what larger than in 1982, virith‘ the exception of rye. The area planted to tobacco is expected to be mall- er than in 1932. Insect pests are worse than usual throughout the Province and precautions are being taken to prevent serious damage. rrult trees wlntered well in both provinces and little injury was re- ported. The orchards were backward early in the neason but high tom- peratures during May and June stimulated development and bloom was heavy. ‘

The season was also late in the ‘Maritime Province; and seeding was not general until the mddle oi May. The acreage planted to the principal grains is practically the same as last year. Early in the seas- on a substantial decline was antici- pated in the plantings of potatoes, lpa-rtlcillariy in Prince Edward Is- land, but recent reports indicate that any reduction will be comparatively small. Pastures and apple orchard! wlntered well, but development was retarded by cool weather and the trees are not so far advanced as usual at this season ‘rhe bloom wI-I ‘heavy, tho fruit is now ‘setting sat- isfactorily, and the damage to data from scab and insects has been slight as spraying was thorough. Oonditiorfs on the whole have been good and give promise oi satisfac-