3' I

MARKET GOSSIP‘

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1932 ___

April 12.—ll.‘l\l

Y. IW YORK’ ' id to regain its l mukefltllilutyrrzfl; the effort was

iietieeaon lrlaltlhl: pa: I

r n irlywisinea ‘ closed

ul “m, lcaa resraoalalve to oc-

ltl- . i oi. eizlilelelrluulinlsililod above l“ "m. can

'1 h hwmd M“ ‘oalifedl ‘ls.at month,

552.180 shares. -< » 1 0 t

irectiona, . their

celled early losses. Vol-

low lev-

"d Wkmssr “$1.12..” 11113.1 "i:

‘m’ mallflfl the receiverabitfdays

r “1 si ‘ihsoaiuetles. y this rractlna u; seen (M! ,, lioldlliil l"!

l-lowevrj, other-groups stolcally and when

wheat was more own prices ssain

' ii. “m! up“? ranging from a fraction

set rel" are than 11

‘ Can (loner l mlmlnterliationai ' aml American Telephone pro-

Coril

point for U. B. Steel,

Electric, reap elephono, Un-

,,| | pleasing contrast to rccent

of those

. vinar we

., oil shares tllllidlill

leaders. Chemical re somewhat less

poelnliy Standard Oil off 2, and Du Pent, off

- .1 “E'.,',..°'r....nnr=, Continental Bunk-

' rcfrrrcil. l] lilaclfic m r paints.

Santa Fe "-1

llrug, Ingorsoil Rand, Lighting weakened from

"mull after s 2 point

will the moinlng, flopped 4 net to

4'1 and 11am halved 4a n preferred sold at co, off 4. Britta g:- iiic sold at 50 where it was down 2%, hat cut that decline in two. New Yprk Ceutrsla bottom was 1811f. It cams back to 19, stilli point, gygg, Southern Paclfio dipped and" losnlnlklfi not’; I

P0 "lie ouaea coacly following President Whitney‘; testimony before ths Senate Committee, were especially interested in his data showing that the short Interest had acually. declin- ed in the first week of April when pricaa shrank acutely. Although this suites weaker technical posit- ! on.‘ il.- a1 supported the contention- that liquidation had been s primgry. cause of the break.

STOCK Avlfnsons (c 1 at l Standard Statistics é... w". m,’

' iitlind 201": mat 00 ttl. . .9 :01 .1 4s

Tfiflli '.‘.. 46 76 _ Prev day , 47.1. 21.0 75.8 48.2 Week ago 52.2 24.7 83.4 53.5 Month ago (10.0 31.4 100.7 (‘(3.3 Year ago . 120.2 80.4 183.0 130.7 3 Yrs n20 . . 214.0 1:11 207.3 T00. 5 yrs ago . 113.7 1.4.0 108.1 111.5 High 1082 08.0 30.8 111.0 71 LOW 1932 47.1. 21.0 70.1 48.2 High 1 l 140.2 100.2 2011.0 144.3, Low . 00.0 80.8 02.8 01.3 High 1010 202.4 141.0 281,3 105.8 Low 1000 .. 112.0 S04 140.5 114.7 Today: New 1032 lows. ',. WHAT THE STOCK MARKET Dlll rue. hlrzu Number of advances 1M Number of rlccWnes pp]

Emu-its unchanged Total francs triled _

I ontreal Mtscellenous , MUN ‘REAL. Qr.c., April 12. Barley. . Clllillil: tscstern nu 3 5i, oats Canad- t t ian wr- torn no 3 30 oats. feed no 1 3S; ' llO a floor spring wheat patents firsts 5.10; ' flour seconds 4.50; flour l-olrera 4.40: _ flour winter wheat patents choice '_‘-' 2.00-8.00 flour white corn 400- lzran ton 21211-21125, middling! ton 9.4a, rol- | High liowiClose led outrbng 00 poirnds 2.45, hay no p pnpoi- _.. 1% 2 pcr ton carlots 11.00; cheese cur- “ Tole 03% 00M 00% rant 1019-11; cheese summer 11-12%; 1 1, Power . . y. 10 butter no 1. finest 17111-181/1; eggs fresh .. Pro A . .. 14%, specials in cartons 24; aggs fresh Grower A ... ..... 19% 18 18 firsts in cartons 22; potatoes no 1 c l-‘eundry _.. .... 4% 4% '4 Floridus 000-000, potatoes no 2 Flor- g r rid ... . 121/, 12 12 idas 7.00, potatoes, Que wbiica R0 lb. noun-n: a ll bag 30-40, potatoes Que. and N. B. n p“ , green mountains 80 ih bag 45 litl 1i Smelt COTTON ryden l'fl|\i'l‘ _ NlifiV YORK, N. 11, April 12.—Cot- 1 S Cesl ll ton futures closed steady. Closing bids rer Coy's ii Jun 088; Feb 095; lifsrch 702-03; April m; ,. 012; May 018: June W1; Aug 045- Sep ypru a caa; Oct our; Nov mo; Dec 007. no Br co Spot closed steady. liiddling 025. cl Gal-l LIVERPOOL nier .\' Cottoncspot in fair demand. Prices .C\\' ('11 lid 3 points higher. American middling. n1 llarris . . . . .. fair i187: strict good middling i112: l‘ Oll Cu . good middling 502: strict middling 402; Li! Port-or middling 481; strict low middling 471. ‘stlieri Car low middling 407. strict ordinary 447. rlre ilrns PM good ordinary 417: receipts were 18.000 1 C of (‘an . . . . . . . .. 24

Foreign Exch argge

IIOXTRFHUD. Que. lnliriige in rclatin

dollar, as complied

, April 12.—li‘oroign ll lo the Cunndirin by the {royal

hank of Canada, closed today as foi-

ion:

igeaiias peso ... ustralis pound 1 igiiiui hula-n lirarii miln-L-i

Bulgaria lot" iirit ‘quoted

(‘hinii lloni: Kong

(‘rri-hoslornkui crown ... . .03.. Denmark llrnlln , _ _ 33993 iilsiid iinm-irk .0201 nee franc , .0437 Germany raise 13min (irrat llritaln pound 4.2071 timer drnchinzr 31-13 Holland mm. ‘ ,, , gigs iilunrr range not quoted India rupee ..., ... ... .. .3170 lieu lire , . 0570 11m m .. .. .1110 Irma-is dinsr ... . .0100 M" ltlllmi Bound _ _.. ..... 8.8240 Mimi mu .. .1251 linumar/i cu ..'.'.... ,.. .0008 gill?! liuuud _.. ... ... 5.3215 csr-a ... .... .0842 linden lrrrmr- . . ...-..." .2105 lvit rland franc d

ilill.

Ulf . .21. “In 1d States doll r 10% p. c. pre-

~s

3.3741 mm .0111

... ...

dollars not quoted "0

l EYES TESTED

J. s. TAYLOR

g E- W. TAYLOR v

Optomc

Crista

142 Richmond street

b ' AND ‘tGLAiSES FITTED l 9 9 i O

HT

IMF?

bulcs including 15,100 American. ‘ SUGA

B.

NElV YORK, N. Y.. April lib-Raw sugar was unchanged today as far as nearby supplies were concerned, while shipments werFItesdier.

lteilnera continued to buy at 2.00 but only in position to suit and after absorbing 15,000 bags of Porto Rican into yesterday. they took 15,000 bags today. both" for April 25 arrival with more around in nearby positions un- sold at the close. The only other sales were 30,000 bu of Cuban afloat, cou- cluded late ye terduy to an operator nt 2.01 and 18.000 bags of Philllpiucs

for early Juno arrival to an outport rciincr at 2.07.

The market closed 1 to 2 points not lower.

Trading was not active, and of the day's business of 27,350 tons, nearly half was in the firm of exchanging from the near to tho more distant po- altions. May closed (i0, July 07, Scp 73. Doc 70; Jan 81; March 87.

Refined sugar was qule} with (io- mnnd limited to nearby needs. Prices were unrhanged at 3.90 for fine gran- uiatcd. ’

Mining Exchange

TORONTO, 0nt..-Aprll 12.—Mlaing salsa close. Sales Stock (i000IAcme - 700|AJax

lose 18%

TE 0A 's 0

:91 w- 114...! , 1

ii

CK AND B

om ‘cuenwm -.

4i

{i

BUD/GET DEBATE (Continued from rm Ill

country. Under the present admin- istration problems had been fully met and "our financial obligations

1’- hsve been met one hundred cents

on the dollar." Hope and confid- ence hadbeen restored to the D90- .p1e of the country.

Touching briefly on trade and commercmhdr. Rowe stated that the. Government had given the problem of balancing Canada's trade such attention that “ a sub- stantial favorable balance was promised for 1932.’? By careful man-

2 agement. expenditures on the Can-

adian National Railway system bad been curtailed. Ono hundred and forty-two new industries had been. brought to Canada under the pres-

3 ent Government and this was an

indication, 01.111181 misht be ex- pected in the ‘ ancement of can- oda‘ with a return to better times, Sixty years ago Canada sold three times as much bacon to Great

5 Britain as she did today. m. Rowe

continued. This market should have been fostered, instead of being lost, in large measure, to Denmark. In 1904 Canada's exports of cheese to Great Britain were over the two hundred million mark. Lest year they totalled eighty-five million. Had Canada retained her markets overseas, the Dominion would not have such s great unemployment problem to meet today.

Mixed farming was a vital ne- cessity continued 'M.r. Rowe. He be- lieved that the Government would be Justified in adopting an emer- gency bonus plan for mixed farm- ing. Payment of two cents e pound on bacon, beef, cheese and eggs would encourage exports and stim- ulate the home market. For years Jarmers bad been subscribing for artificial restorstives in the line of bonuses to the coal, steel and other industries. Development of mixed farming would 'belp the wheat farmer because increase in the cattle population meant greater consumption of grain and greater fertilization of land. Mr. Rowe warned that mother nature de- mended rotation of crops and a re- turn tc the soil of some of the fer- tility which was constantly being token from it.

Peter .1. Veniot (Lin, oidieeeser) wondered if Mr. Rowe was the seine man who, prior to the 1930 election, had traversed Quebec and the Maritime Provinces, encourag- ilng the farmers to vote against the Liberal administration because of low prices__ Would he re-visit these districts now, asked Mr. Vealot, and deliver his doctrine that low prices were due to expectations and that the remedy new was for the government to bonus the agricul- tural industry?

Last night the Minister of ‘Trade and Commerce. H. H. Stevens, had set forth the argument that be- cause of an increase in the estab- lishment of new industries, unem- ployment was not as bad as it might be, said Mr. Vcniot. The

go former postmaster general wonder- ,” ed if the minister bad toured the

Maritimes, particularly Saint John, where three industries had closed down, throwing 300 men out of em- ployment in the last nine months.

20 37

The minister's speech bad been a .plea for sympathy. He had asked for constructive suggestions from Ithe opposition. But what was the use of the opposition offering any suggestions, asked Mr. Veniot, when the govemment had taken its pow- er away from parliament.

Mr. Venlot denied that no con- structive suggestions had emerged from his side of the House, and cited the attitude of the Liberal BMW towards the high- tariff pol-

Whfl} U18 Ollllosition had feared

V) would overtake the country had

now arrived. be said. But the Lib. erals did not take any satisfaction from the vindication of their posi- tion. _

He was amazed at Mr. Stevens having characterized the speech of

, S iY-"fr weeten l 45}; "Misfit ." a- urit ‘ Iizgllt Hll’ . ‘m SJ‘ YER‘ saleu 253,000 aharos. l RI gal ' yo“); M: uimrsrsn MAI) _ . 041/ 04v 041/ igoon illliiiaouri 0i 00$; "W; 710B A _Oil I - 10[Bwsnn ... ...‘ WWI 05%| 05% IMO-Research ...“ nal 10o tiC ltletseearen ... . aaaisll w m: 132.’. CrIIest .'.' “ool ool "'1 rilgfiellilgm ".."'..'.-su1 m m can 112a om llliliNichei ,.. room. Pete ,.. _.. . , 2b 0% McLean ...» , U 1700 Nordon . (INF-O ille ' 1010i?» Pete . ‘ FIFO-MINI,’ lloiltoyailte . Wltttqqgggq 27770iVentures obow‘ l anmottlgonquia 11001101110

New York

Stock Market Quotations Low Close ii 61% 53% 51% w, 9% 105M107“! ‘iii

Atchisun . ,

Buses .

(‘an l.‘11(>iflc 1' (‘hrrs Mot Corn Pro . 1'1 1 Dupuiit Fox Fllin _ Gen rogue Gen lilorors G I! Signal _ Houston Oli Hudson n.\lt . llupp Mot ln llnrv

in Tclc . .. _ Kcn Copper , , , Lambert (‘o , _ , lilis Pacific .,

Scars line _ Souili l‘nc , , South Rail .. _ fitnnd liraiuls ... .-. s c‘. Eiec .. _

s o of N .1 , m] my‘

25l-

'l‘lni Ilol lloar ll (1 (‘nrb ...

llulnn Piic _ . , , ,, lliiitcrl Air ... l'nited Corp

.- R m! 1w 11/. ‘Hi/ii W211i’. ~l seal ml s

New York Curb

Stocks

iliigliiLotidClose ._‘ "iI 2o’, 1i Can Marconi

Cit Ser Co .. Cord Cor , . 111B Share _ E S Putt-er B .. l1‘ of (‘an A l4‘ in (‘n Lid (iulf Uii (‘orp ll O llcfiii Co lm Oil Ltd In Petrol .. .\ild West Util . , ‘ Niagara IIud _ ..

.1 a’

Grain Market

lVlxNlPliXl. “an, April 1‘.‘.—-Lnfe session buying in a market already qulckencd by adverse drought condit- inns in tbo Southwest states and an awakened export movement further ncceicrutr-il the upward swing of’ pric- cs in the grain pit today. Values at the close revealed gains of 1 i0 11,4, cents uiiovo ycsicrday closing lcvcl. May advanced one cent to (i5 cents, July 1 tn 1% at dill/g to (i7 and Octob- er gained nn oven cent to (‘loan at 001,41. Export trade wnrkcrl overnight “'11s ostlinnlcrl at 500,000 bushels.

(flnse wl1c1it:-.\iay (1.1, .'luly (WY/n to (‘.7 October (iii to (10%, oats. May 7127/11. July 33%. Oct 34. Barlcy-hiny 421,511: July 42MB, Oct 4075B. Casli prices-Wheat no 1 har_d 00%, 1 nor 04%, 2 nor 61%. 3 nor 57%: no 4 55: no l5 52%: no 0 45. Feed 43, crack M: no 1 durrrm R7. Oats-J.’ c w 3"‘ c w 207.: ex 1 feed 29%: 1 feed .. '2 feed 20%.: rc- Jcr-terl 20%; track Iii! g. llarlcy-ii c w 4l-',\£:4 c \v 3S',{,;5c w 30%|: (ic W25;

f‘

trn k ~12.

CHICAGO, lll., April lit-Wheat rose late today to the highest price level attained since last February. Crop re- ports from the South Central section of Kansas was ronstrului us sensation ally bullish, uonirnsflu" with the fact that this region had 1E’ best prospect In the State on April i. Predictions were current that unless rains cumn soon Kansas would fall far short of the official estimate. 1t was anno\1nc- ed Spain had authorized imports of 50,000 tons of wheat because of pro- iiotiriccd ahoringc of supplies. Wheat closed nervous 1-l',-’_- coals nbnre ycs- tcrrlirybt finish. (‘orrt l/i-IA advanced. nnls ‘A-l/g up and provisions un- changed to scvcn cents down.

which, in comparison with some of his own, must really have sounded like a culogy_

The former postmaster general went into a lengthy criticism of the

.budget's taxation proposals,

and

‘condemned the government's policy

i

as one of "panic economy." Mr. Veniot said the government

o icics of the government in i930. ,bad "shamefully" fallen down on

its programme because of want of stability and lack of proper ad- ministration.

He wanted to know why the es- timated revenue for 1932-33 was placed at $32,000,000. This, Mr. Veniot said, was only an increase of 8300.000 over last year. He

Colonel Relston yesterday as a bit- thought tbs estimate should be

ter denunciation. Even if that were $34,000,000. 'I‘he excise tax had been

351W so, Mr. Stevens was merely getting Iestimsted for this year lower by

inc more than be had himself given 't8,000,000 than receipts from lest

Mr- Vcllifih if he could not sit in

:%iwklifliQ ‘liIChWI-I in opposition. Thin- year. Mr. Veniot claimed this show- soon s pane e must be. commented ed lack of confidence in the future. Th, you” m” to, w, o-clocklPills for months and find them,

his seat and listen to a. speech dinner recess.

l

'- (1.4.

iikrirri i i rrr so it?

11/.

1° 1.1 io our. ‘total sales were

Montreal Marital Siiieligiita

MONTREAL, are. April 12. (n; the Uanadian Preas)--A morning atudi‘;

values on the Montreal chnngo continue the decl baa been going on for about three weeks. with the exception of an oe- cnr-lonnl day nf moderate firmness. The more active interliated securit-

Itrarfflaii Traction was again not"! leader with a turnover of 2,901 share! and remained unchangel at 10; Nicki-l second with sales of 2,487 shares, held unchanged at (1% while (‘ansdian Pl- iLflc, on (liiil iiillfiii, gained 1/; to 1L The only other udvanle W1)‘. in Canadian Car Preferred up 1,3 at 12. ' .

Among stocks to hang new lows were B. C. Power "A" off 95, st 18%. Hrneiters down l5 points to 8b, Eastern Dairies off 1 at 10; Cqpaum. i4 to .3; llolliagcr ~10 in $440 Steel of Canada Common 1,, al. 1i» and the preferred 5i at 211.5,. (Jthcr declines were recorded by Ddrydcn, off 1/, at 1_; National Steel

'1 Car 1/, to l) and Ugiivie Preferred off

169,, at 100, in its iii-st appearance in its first apcparaace in some time.

'1‘ho bond department also JhQWQG lower prices. Montreal Tramway first mortgage lost-Hi, to 01, a new low refunding 1040 uas down $1.00 to $03 wbilu National Service 10740 declined 884.50.

Stock sales were 10,215 compared with 0.504 yesterday.

Sterding r-insed at 84.2071 and Unit- cd 81111121. money at a pnmium of 10% pa: cent. .

MONTREAL Qua, April 12.—A grcutcr degree of steadiness was ap- parent in tho local market today, des- pite the fact that seven issues touch- ed new low levels for the year or long or ia the course of the session. This group, included the less active issues luiwcvc, and the action of lirasillun, Nickel: blur-racy; hicColl and (Jarrod- ian Car all of which ended uncbang-_ ed provided the most reliable index to the day's market. The Steel of Canada issues, however, were again easier. both sagging to new lows while Steel (‘ar also lost a fraction. The New York -‘ ninrkot was irregular with its usual, reflection hare. but u further rally in wheat, particularly towards the close, provided the needed stimulant, and in New York as here, the close showed a general, if moderate im- provement. Sales here were slightly ahead of Monday, and the‘ index end- ed 10 lower" in this touching a new low lcvcl. .

It was stated today by an official of the Montreal Stock Exchange, on be- half of that body. that despite re- ports to the contrary there has been no change in the situation sa regards the policy of the exchange in the mat- tcr of minimum prices. it was added that while it may be true that many llDWll-i0\t'il brokers have been con- rltioting an extensive overthe-ceunter business in several erstwhile active stock exchange issues, and are con- tinuing to do so, the Montreal stock exchange, as s body baa not as yet afforded these activities its official recognition.

Stock Merger

NR“? YORK, N. Y" April 12.-The liirncst stock exchange brokerage was announced today when Shields and Company took over the business of Morrison and Townsend. Both-firms are members of the New York stock exchange.

The ncqirisitlon will bring into the enlarged Shields and Co., organizat- inu the flvo ll S. ranch offices of Morrison and Townsend and also Jta European organisation with head- quarters in linndfln. The additions will inc-rouse the Shields and Co. wirs sys- tem to a ranking among the six larg- est Wall Street wiri- houses. The firm will have 12 branches.

The Montreal

' Mr. Currie 4:0 Curb Market llsland Stores . . . . 4.0 John McKenno. . . . . . . . . . . . . . .. 5.0 Joseph Keys 4.3 in”? 5 Frank McKenno. . B:a“h‘":g°i;'A-':__-':'_: T. L. Smith . . . . . 4.1 Big Mia ,. . .. Michael Thomas n .1 011 it J 4'0 Can Malling 0891711 Shams . . . . .. 4.0 flfmfergwgj, 1" AM"- Kays ....... 40' Home on L- N- Keys .. ......... 4;, {f} 33,11,315" George Rackhem ........ 3.5 lllklilils A (Sediment) fértlirrelli(iiiup...nl. ...-...... 0 N‘ M‘ Kays ' * - ' < - - - - - ~-~--~-- 3. l‘ ll iltiiillited .. William McKay Tiliillgircuhliiies ... _. Kflheflne KiiYS . . . . . ... . . . . .. 3.2 "c - u ca .. . iviliir Hlgram .‘.. Wright l-lsr ... .. Milk Tali. March 30, 1932 (Condition Clear) ,She Is Now Able To Do BM- ............... 4.2 ' _ Smallwood 4.0 A“ Her Own Hlouse Condensed Milk Co. .... as work Health Psateurised Milk Co. .. 4.0