i mil ending by wishing sll s Merry ' lstmas.

' ,) auliorities have refused

s oonsidzrable period

IIMRKET GOSSIP. t.

, oi’ time coding stocks were _ a full paint for the first time 0&0

22 to tailed 547.890 cars; 2 cars from Previous week, 111-" crease of 16,431 over like 1983 DEL

m-szitmscm- a “mw'“'°$$‘€ii<a o.» sin-sol?” p; irregular: Great "‘ .‘. ' 10W 4.93%; Gil ‘~93- 6.01; Bebiuml 28.48; _, 40.5; Canada 1.00%. CIIIISNAS ‘II-ll;

The semi-annual Illumination and

assisted by Miss Kathleen . Miss lbtelle McDonald, . Henry McDonald and Mr. Jack

- tor the Dmfllmms Joli Old . Nicholas arrived to disributo many presents.

~ ‘Vary enmuraging remarks were Imdeied by Mr. Henry McDonald 1 to which the teacher flttingly re-

Qandy was served and the Eh- _ nation was brought to s close the singing of ths National An-

On Liquor Law

MOCKHOLM. Sweden. Dec. 29- 3.) - i-i , ls for s change of ~ - gulstions regarding the esle of . . wine and wlrits [in Sweden. made by a ‘vvcs commission ' loll has been studying the ques- since 1029, have lust been made bllc. The l ommendstiorls i unt to some measure of slack- ~- of the present restrictions. , The principal change is the with- ‘ - ' Inl or local option on the sale of ~ -- .~ . hotels. Home hotels have d‘ their business cramped or by the fact that the local v permission foflthe sslo of even light beer in the establishment. Another change suggested for vis- itors is that a stay of three days or macs-at an hotel is automatically to esrry with it the right to purchase a ; certain quantity of spirits. The are of spirits in Sweden , through a monopoly and permission to buy must be applied for. Resi- ts in the country have permit enabling them to buy a cer- . n fixed quantity every month.» ‘

» . earner ro mus ' sgi-tsmo tapas _

s-rk-q

(fiaadhn Press)

. nee. I-Arrsnse- .190» of Gloucester‘: return tour- . _ after nu visit to Australia are ' Ztsiand, s; announced from. Palace. follow: '

ving the Panama csiai _'

i_.

‘ihsbukewillscrrinst

menu for the conclusion of the ,

Craig Barber's residential sec-

collecior: down. south may receive their boomerang letters with that valuable addition-awe cancella- tion stamp of the most northerly

ammcnt to desl with nations-l coo- nomic problems by a special com- mittee of the ‘HOUSGV ofCommons will be prvposod by .1. s. Woods- with (La/bar, Winnipeg Nonl- Centrel when Parliament meets

Y; " Stock

xix. wm- a . '61 Johnston and Ward's Special ‘ planhi in lease in - Ex ,_ wire: $>fismiibizlfiftnglfl gays lrlhldhoofizla c flflge i. . o avenge-we above Hosanna assault LITTER percent‘. ' - ’ f; Winnip": Grain Helms do- ng Yo“ ritual-Dalia rift M213,“ '..=,£.°°"">,;,g,}g m "i" (Quotations tarnished b! Jolilllloa I so the day progressed s ‘good gr sowgwyti n inetruw w.“ “mm” ‘u u" M“. ‘- i“ ‘m '°° ‘w’ : lltaoh lsohsage. Nontrss .1‘. 1y ‘QVQIOPQ Ind VOIUIIIE DICKMI U011 OI “IQ Dominion GWVGFIlIUQIlI/r curb M.rk'k l“ mohno,‘ s"”‘ slso. O1 prices were near Association of Amerioan_ Rsil- ghmnahn ' mom for he dB/y- The ad- roads IUpQYlS loadings revenue _ i‘ vonoes weze ullte general and in freight in week ‘oildeddacf o.‘ 3 -

1.111s market has bzen well iod and increase 63.385 cars over 112% 112% f £11m: time and as we men toned like 1032 week. 13894 137% dew. the prospects fox roller of CuYency issue: 16% 16% rim business lfJDeas good regula ns fllfllilllilfl um invest. 35 3554, ‘seemed ttoh berm particular merit szcuritles, mitt bwnlui. tc 11476 110?’. irfsglfigificaliggisveg. lbauléysitgcedteitlehclg Fircilgioizsitllg-Eofoiygcltwiigies. nxgva/ 11;: tlv-xzgifon suggzzizs it should carry issues gill-ere issuer has secirritic: . 18V» 181i» . .. . l - , . , ,-. _. Laidfsw and: Company. gihdS-Illzewngectiiiges‘ Zfemdliefmistzeigelad! if; I ‘- SUMMARY unldcr Swulutics Act of 103 _ g I 338% 36111.. , romw YORK, n. Y- rm. 2e- High ‘Low us: ‘Up loam ion Gout Bars uctcd 2-‘. 140:. llli-d ag- _ - ; "- ~ ~ salt arm N095" 1411s 05d Ffidaiy. 30 liltl . 10129100-5710615 2.80 11% 11% Bgutltern California Edison C: 20 Rial]; 38.41 86.63 36.85 0.0‘ tch on 54*)’. M?’ yzzixi iiisii- qzlovficrly dividend | 20 Util 17.53 16.01 i744 .44 36 26 37 s all cczlllnon- 40 Bonds 05.27 .15 5 d, 5% 5'4.- Y -c:.\'-'n Valley B-efil WO- . Dow Jones. 1m 14w. »- W " » cu 6% ~ - l7’?! 17% ' . . :2 a2“ Ma rk ets A t A Cflrrenttas g3. . 53'- '” m __,- 15% 151i Glance (Canadian Prossl ________ l/ICéNTREAL; -Den. 30~Thle . éézvl — . our: tc.l‘_n rid _U ited Sta‘ . ’ §°“',§‘;‘§"“M"Q'.§Pf)8, 1nd" ‘dollar ‘Zlrslincgd afill Mxonltrcai lg:- 34 n 34 ‘ h“. "“‘ _ " clgu exchanges wdav. The French 1'4 1'3 m, }.,_'-._ts__fijnharv franc was unchanged at 6.67 oenLs- . Lil: tit w Y:l"l(—-3l2£2k5 closed firm. Tile ‘ound eased ~32 of a cent at I‘. 7/ g . ~W.nni'pog-Vlhcat ‘m to “.1 cent: 8491"" ‘mg? bhfe mew“ duh“ ' = mfi“. . $313012“. (fixamgtrlg d m [gilt 7% b} Kdxfifgfiz‘ "f" mbbm °“ (Canadian Press; i ' '211/. 2m . . “ 1__‘__" “ __ rww‘ YORK, Doc. aid-leasing 19:51 10ft -, gdlan mall-I} _ , kets. Sterling alt 54-9811, e‘ Can- 42""? 43”" "iii N adian dollar alt one-half . .cent ‘i: 8511 " if] = »' grlarlni-um Ngmduths Frgnch iinc at lzlglv "i 1 " oer. a - we .. . f . ' " " 2v = ' -f' (Canadian Press) gmnfifirwndwongmrkmretmiwifi E719 13!: ; , J6 use. iiil-Briitish hum‘, ~_ “u, m, mmd. ma“ l‘ 55 ‘ ' i§§~“~.‘§’%‘“..,.d‘."£?“§§fi.$”. "h-“Tlfi.” “W” “““’”‘“ ‘m’ "Nb ‘m’ lily . 5 ' sipped toward the . l -by the Royal Bank of Ocn- > 31% closed Baltuct-llv as followe:-- ' . "_ ‘ ~ _, ' g ~ 3H5. fifiimifi“ ‘Wilkins ' I I I I :7 a ' l 3372 . rs un '. . ,- ~ 1 i la sc 11111111883. GoLong Traverse. 11% sci“ i": F A lti~= i "a “l? - r m re .. . z. finance gnaw or r0 .0 v. , . one . . -—_--' . ml,’ ny rcichanisrk .4006. (Canadian Press) 1212 - Pa“ mm" PM" 4-9125 CRAIG mason. ‘Ellesmere is- *3 . i "Holland flcrln .0140. lsnd- Dec ,1 Mm",- m, 2m. '. , “Japan yen .2066. ' . - " m" "YP°"' ms 1 i-New Zesland pound 3.9268. °m°° m m” 3W3?‘ 3mm“ m“ "iii l’ Jim-w], kyqng ,3“; little 8611171611101“; intho M6916 twfi- wit; ' P llloti .1800 light has perhisp the greatest 17 Souk-g 4.0063 per capital poasi turnover in Ihf 1%‘! Sweden lcone ‘.535. warm as '

351 downward in April by the new m“ “new” “f dwum“ M“? federal tax on their earnings and house c. total of two lhlrimo fun 931,, the mmdulneous “m, “w” flies. us downtown. or nonrlus m. 1 “ P‘ district is u» combination store 2w. “w” h‘ ‘h’ “m "'°““' Th‘ "m" bunkmww um m“ on“ whim m“ staged a sisesiblo rally in the sum- mer“ by W0 o“ of the m’? 9m mer months on expectation of more u omamn Mounmmd“ Polwm 1s United Btates inflation through sn- ' Hundrech of letters find their W,‘ “m” "“‘"““8 “P °f "w W" °f w" w m’ um‘ m“: Th” ‘u 231:; the yellow metal, clinlaxing on come by the Hudson's-Bo bolt J‘ Aug’ M with the ma“ n’ “mm N which Y orth 2m But by that time the silvers and amour w Mormon‘ yet-suic- W Mot " . w- l b“ ‘Mm’ "m m’ 4°“ ‘h’ m wafers m gm m tiny mo» Penn ‘I. .. m’. 24% m“ “i W“ ‘M’ W" 811W lrlell-li hear the mu Parallel of PW B‘; l‘ J 15., m“ u“ ‘ "m: ' Phil P . . . . .. , . - ‘ unfit‘; M w“ Radio 0mg‘ . 0"»; Between Aug. l and Dec. i the W iv" W H 1mm resi oripn .. 2;. v golds continued w decline and they pootmlotcr 0n this one nis day of g; Irma Qteel . . 14... i4‘. made only a moan rmvm "l9 Y"? lfimfli 1°"! W0 "h!" " g4; December. closing the year around the swat influx of letters mo“ _ ~ w, 110.00 of the index to show s. not Inside nearly eves-y envelope he “my _ 1m gain of about nine points. The find‘ I 5mm" I'M"! "14 f 5mm p“ ._ i616 miscellaneous mines have main- moved WW1’ with l 1161104 N- gwm ‘p41 154! tained an almost steady decline quest that he plsoe a csnoeihtion guns Brssids .. 1:“ since March l2 and the group stands film? where the letter!!! will b! Qsasl am under the 80 mark. up only about nilvuistn 'snd comm m Shadow“ on u .1 L. 48% m“ “m” "m" u“ m" ‘"- seio w work so that user own» 9"""“" w°'_"_‘?'_ 9 MONTREAL STOCKS sun cvass

l???

Dust office in the llrriliflre. Union’ y. Improved business conditions . WWW. §ii'l’.;l.’2.‘.’.“§..°§2.‘..il‘.,'°;..“3.. "its: 1 , OI! Seek Amendments §§ 3 mo... t»... w»... during . u s steel . . n; initial ard T0 B N. A. AGt m , _ when m ugwmm. moi/scab: (c. s. by G/Iardialfs spun Wire) h, 3"” n" "mm" 8W!‘ 1301M“ I'm- UI-TAWA Du. 3a 5g age of 80 stocks, comprised o! 10 . $11G wfil- “N01.

Se", o,’ , w”; m” utilities and 30 industriais. estab-

i>¢ le motihosh amending th w lishing its high for tho YOU-r. A p”. Lf,,""w‘m'°‘,b“‘w mmemnfimmw worth iod of slow declines followed in the Yellow spring which was accelerated in

Ontarids Outlook Most Optimistic

Mr. Woodswcr-th gave notice of r resolution slow this line today.

‘rho resolution reads; '

“That in the opinion d thy House, a special commit“; alsouid hesct uptostudy ssldrepoetm the best method by which the British North America Act may be amended so that while nfeguud- ing the existing rights of "ma? and... ligloue muloritics and legiti- mate provincial claims t0 distan- omy. the Dominion Government may be given adequate powers tc - deal effectively with urgent eco- nomidpmblenls ,Wl1i¢h are onen- tially-notifltlilluin sequel‘ ‘ .

H. ‘E. Spencer. U31’. A. maniacs- for JailtleJtlvcr; slap. giva, that he will: f Y's 1091mm! t the-

, - M resent .. m"! IBIWRPM c-vdigéfi '"

ic. r. s Guardian's ewlelwlfli

domino, Dec. I-Ontsrio

faced ms "with s spirit of Remiss-

‘4 pared witl-l ioul at the opening of t; the year.

.vr0¢k Bmt g During The _ Year 1_9.34_

(B! ALEX. PltlNGLE (lsnsdisn Press Ilnsnoisl W

ronomo lNDUSTB-IALS

'I‘OR.ON'I‘O. Dec. aa-icgmpaims industrial "share section oi’ the Tor- onto Stock Exchange performed’ the unusual fast of beginninfif and slid- ing the year at about the some price level. This is reflected in the exchanges index based on the per- fozmsnoe of 20 industrial stocks.

During thc year tho market med: two fairly surcessIul flights, soon- ing up from 99.68, where the index stood at the opening of the year. to 120.12 as of Piob. 5 and from 86.85. as of July 26. t0 103.40 as of Nov. i2. The market limped into the final days of 193G with the in- dex around tho 100 mark.

However a survey of the individ- ual performances presents a slight- ly hotter picture. Gains are found to have far out-nunvbered the de- clines. Ami the gains were surpris- ingly wide in u long list of prefer- red. stocks. Among common stocks to show marked buoyancy appear Bell Telephone. up $17.75; Consum- ers Gus. up $21; Goodyear 'I‘ire, up and Ford of Canada. up

, Toronto Mining

Opening with a mining share ad- vance that developed slmos’. b00111 proportions in March. the year i034 failed to fulfil for ihe mining mlilkbt of the Toronto Exchange the promise of its early months. The net result was perhaps a. mod- erate decline. Losses islwn by sil- ver alld base metal shares appu- ently more than offset the nudcst not gains registered by representa- tive 8°ld shares.

The» year's price peak for Can- adian mining shares was marked 1w in‘ the corlv days oi Ap.il and in tile wtcecdlng month's the .'ice level failed to climb within strfiting distance of the April top. On April 4 the Toronto Exchange index for 30 gold stocks registered 135.00 com- pared with 100.90 at the end of 1933. Nearly a month earlier, on March 12. 20 miscellaneous stocks. embracing chiefly silver and base metal issues and a few cheap oils, topped at 116.57 of the index corn-

Oold stocks were sent scurrying

~ reports and some resumption of dividends

. sues. the senior issues being

By JOHN MARSTEBS Canadian Press Btsfl Writer MONTREAL. Dec. 20-(020-

July by the troubled situation in DlKWe. n1 Ausuot. however, ths July decline was recovered after a. slight downward curve in Beptem‘ the average remained comparatively steady with narrow fluctuations until the end of the year.

Strength i_n the bond msrhet coupled with better earning

proved p. lsnge factor in the advance of securities on the exchange. A notable feature was the substantial gains chalked up by preferred ti;-

o first to remand to the betterment in the bond market.

volume but from April until Nov- ember declines were noted and the

of Dominion Btool and Coal Cor- poration following semi-ofllcisl an- nouncement of the Ins to reor- gsnlse the financial s cture of the corporation and its subsidiary, Dom- inion Oosi Company Limited.

From a speculative point of view the action of Dominion Coal pre- ferred was the highlight of the year. It opened st l0 and durim the year advanced approximately 110 points as a result of pmgress in the reorientation of the capital structure of the two companies which involves the conversion of a bond issue of! Dominion Steel sud ‘changes in the preferred and 0011b mon stocks of Dominion Oosl.

Movement on Curb

Strong upward movemenis by gold stocks in the early portion of the year followed by s. general re- actlcnary tendency characterized lmices on the Montreal Curb. when interest in the golds and beverages tapcrcd off as the year progrflscd. traders turned to ctiler sections of the list with the result it exhibited a broad front.

llhllrovcd business position and in some cases increases in divid- ends turned the attention of trad- ers to the oil group. Substantial upturn: in volume and pleas were almost immediately noted and at the end of the year the advances to a large extent were held.

In addition to the general broad- ening of the curb list several issues were graduated to the board of the Montreal stock Exchange among them Imperial Tobacco, Associated Breweries of Canada common and preferred issues of Canadian For- eign Investment Corporation. A

FOREIGN’ EXCHANGE

By JOHN MARSTERS Canadian Press Stall Writer, MONIREAL. Doc. 30-40.!»- Doclines were recorded by the pound sterling and the United States dollar on Montreal foreign exchanges during 1934 although the

improvement. .

The downward movements of the pound and the American dol- ls: were to a certain extent linked together by the notion of the Can- adian dollar. in foreign markets. The strength of the French franc was attributed to the weakness dis- played by the Canadian dollar in comparison with the franc. which is still on the gold standard, in out- side markets.

The French franc cjlaned the year hero at 6.50 1-4 c.:.ts and in nar- row fluctuations gradually mount- ed upward during the Year to rec- ord s gain of approximately .36 of s cent. \

From the opening price of 15-15 sterling ‘lmmodiately declined and near the end of January it hsd dip- ped to $6.01. A slight rally at the cud of the month was followed by a sharp decline which sent the pound down to $4.90. Immediately

in a rise was experienced in the early

part of February and it continued with hardly sn interruption until April 5 when the high for the W01 at 05.10 was reached. .

An extended decline set in and by the middle of June the pound had crossed the 0.00 mark. A slishi- advance brought it to slightly I50" 85.00 in the early part of July. With the exception of small gains chalk- ed up in Aulust the decline con- tinued until the early P!" 01 50P- tnmber when the par line of MM 2-8 was crossed. At the end of the month the years low of $4.80 was reached with sn immed- iate gain and fall back. October saw the pound clilntb to above par-and from then on it kept above tho line until the and of Novaeribcr. 1t stayed below par in the lsst days of tho month and in the first week of December it dipped to “M. Then u: upturn trend was in evidence due to the decline in the Canadian dollar, a oeasonal feature.

The United States dollar in ston- tieslotartedlobdstpsrandsfter suffering a short discount moved up

and m s l 1-2 percent premium at the

beginning of Iiobrufli’. It gradual- ly receded during the month and in the middle of March hit psr.

mg the summer continued down until the low for the year I i-s per cent discount was l ‘ ‘ in 80P- toolbar. B7 the beginning of 0:10- ber it had recovered to two For cont.

tendency _ _ Starting at the end of November the American doisr strensthened cnnsidersbl as the Osnsdisa dol- lar ltost v us in s move- loo

n In exchange oirclu tho thought was exprused if Omsdmhad not

French franc displayed l moderate‘

in increased theamountornoies out- low standing b! sosrorimstelv $11300.- _ U0 batwoen A and November.

nluo went to farmers who

wheat st Winnipeg reached

the 11mins - minimlan levels of ‘i5 cents for De- cember and l0 cents for May.

'Pf\\.-- I

MONTREAL. Doc. 30—-A\l 11112.‘ yggmsdgd advances on the Montreal produce and da-lfl’ ‘WW h"

wee-k. , - candied sh ems of eggs in cor- lots or loss lnishled tlld week ti 32 to 33 cents; a dozen for A-lstsfl» 2i to 27 osnlts for A-lnedlurn. 24 to 3d ceniis for A-pulleis, l8 to l! cents for B and l"! w 17% cont: 1o were 4.1180 asses carlots or lees sold ts '16 Tb N1

r C. No 1 burner in

were 1,437 bones.

Current make of No. l Ontario

cheese was quoted st 9% cents r pound with summer make st l to 119i cents. Receipts were only 26B bolcs- ‘ Potatoes were ohlv 45 io 47 cents or B _ and 50 to 52 cents {on Prince ECIWIZG Islands. s11 per 8 pound bag. .

v

ed closely with the movements of business and was devoid of a broad trend. The market fluctuated with- ln definite limits between the peaks of s new year advance touched early in February and tho lows of late July. The Febusry ton s Dmi- niated the highs of the l up-

swing. The July lows about (111)111--

csted bottom prices on the decline 01 October 1983.

The 1004 turnover was approxi- mstely half that of the previous year. It was the smallest in fact since 1924. the year before the bull market which culminated ia 1029. The full meaning of federal wntrol for Wall Street was not yet clear as the year ended., Some market students argued the exchange had evolved from its old unrestrained exuberance into s sedate semi-in- vestment stage.

An estimate that United States‘ farm income increased by $1.000.‘ 000.000 over 1033 came from Presi- dent Peter Carey of the Chiozgo Board .of Trade. Corn and 017-8 swung upwards alongside wheat in the closing months of the year. Corn rose from a. minimum o! 43 cents s. bushel on April i7 to more than double that price. Oats mount- ed from a 24 1-2 cent bottom and scored an equal psoportionate gain with corn.

Despite occasional inflation scares the bond market approached the yesr and with a sweeping show o1 recovery. Bonds wore traded on l scale not witnessed since 1034.

The adoption of a modified gold standard by the United States st the end of January was ya ceded and followed by a striking advance in bond prices. Anzhorini 0f the dollar on gold brought s. heavy flow of funds from slbrond to 11 tho pool of capital available for vest- mcnt in securities. Gold imports totalled well in excess of $1.000,- 000.000