APRIL 1, 1932

YES TE 0.4 rs s

e MARKET Gossip

"(B7 I'll! l- CNIQY. Associated Press ti Surta ire to the lowest since 1003.

i lnancai Writer.)

NEW YORK, N. Y; hfarch 81,- Btocks bade a dismal farewell to the

year's first quarter today.

After Just a flurry of covering at the opening, the market swung into_ a da- cline that Ialned enough momentum not only to establish the list in new low ground but also to effect the largest average break since October 13. This sag, according to the Stand- com- posite, was 8.4 points which carried the P0 stock figure to 58.! sganst the previous low water mark of 00.5 set in

ard Btatisfica-Asaociatrfi Press

l-‘r-liruary.

Differences of opinion were heard in brokerage house quarters as to lvhnt

effect riiesagn of the transfer

measure had had. but it was noted

that the market was weakest

that news had come out. Several leas- ons for so sharp s reaction were ad- vanced. among them the existence of H an llll] aired techncal ' ' through n-cent covering in anticipation o! to- z:..--rrow'a loaning regulation, Also, it wi-i suggested that long accounts sc- H were bring sold by holders who ha grown tiveil o-' waiting for a business tum. (oiialcral loan liquidation and encu- tlun cf stop loss orders doul-tlel-s

cumuiatsd m month or so I

cnviiilbuted to the weakness.

The deepest air pockets opened _up ii Mccks which have recently iicui nus! sensitive to nfarket fluctuations. A hcrlcen Telephone flopped more ilisn

THE CHARLOTTETCWN_ GUAEDIAN

PAGE NINE

.. - . .. w. PLl|.1.il}' .

TOCK .41v1> 301w) Q uo TA TIONS

Aumirn l4 (its loss was cut to 111p. Al“ul Chemical, ‘Cgnsolidatell (i118. Missouri Pacific. Electric Power and

2 and 3. American _Can, National Bis- cuit. . B. Steel, American Tobacco "B" North American, New York Cen- tral and Baitmors Ohio were in the "I110 company. Turnover in the last hour was quite active, accounting for about 400 nhares.

Standard Statistics Co.)

x-New 1H2. low.

‘ . Thu. Wed. Number of advances _.. ... 01 243. Number of Declines .. lltocks unchanged ,., _, 123 153 Total issues traded ...,,».. 051 oso

New York Curb

I'll L Power A

» the Cs ' high-era ange in ad

II ‘all IQ a. .. . ~81: s lev not quoted hfhl ong Kong dollars not quoted K3101 slovakia crown 0

l] [Britain pound

India

lifsafsli-tl ,.. "gmigaxgi lcli . . .0 . . a; - .1‘ r ti lib ‘ Main dampen“

Jiitftnx." in», Rates dollar 10h per east

l stem High Lowicloso Am I 8% A 8 Power 2% 3% 3% A .0 Elcc A . 2 2 2% Ilraa Traction l0 Ililld 10% vim Marconi . 1% 1 (‘it Ber Co‘ . 5% 5 5% (‘ord Cor 0V; I 3% E B Share . 20% 457i 10* I‘ of 12 a

M 4% 4 mm oil 8 ' M 84 Ill 0' 4e i’ i5 so Ii W 8 3| g Imperial In ‘Petrol 10 0% 9% aim West utii 1% 1%! 1'1: Niagara Hudson . 15%| '

8 O of Indiana . ii O of Ken ..

MiningExc/iarige

... ... o... 1‘!

... .. 100 99 02%

ns2° §reSa§s%sses=§£a.

n as: n $235S$§§£8S*$£38§S§ a " a2:.- u 2 a 2 r5ask=ne==#§s:: g§§3§g$:§g§3$§$m§$§$5»8$s$

02 300 ... , . 00 righthsr . ,_..| 201i] 200 Total sales 298.000 shares. " ‘ UNLIBTED A Oil... ... . 1050i 1050i 1050 n . . MI 00 0.1

cursor - so ne'er B use n» IUWCODIIB CON H. 01 U!“ 01% 2001mm Exp] o0 0c 0s “MUGGIII Lilith . . OQQfi 02K 02:’ 1500 Kirktown 0833 0B0.‘ unlock 0034 ib 03ml 2?). our: iouoiwnft§°niik , is? 0s 0a

M, Foreign Exchange

4. i "..

I

.--_-, ,-

‘i iso ' nan, . March so. is “Tigdian PrgklseiL-Britlsh and for,- ' n to ths Can- iaa- ollar, as compiled by the Royal

Isak f Canada, closed today as fo- m}? I a o 02900 II s ... .. ...

‘in iia azure! ...‘ ‘.6... assoc

u 1 u a. ‘...’. i .'.."°...°“.°..'... an D ll . . .. 0.0M)

. . . .. oIoia-i ... um

‘drachinn ... ...

lilaiid florin ... ... . . ungary pengo not quoted TIIDOI

4 little change in ‘- ter from re-

imi l5 i3 [ioiil 12%| 12v. - iisi 4%! 4%

Stocks lkllghlLow Close 1 1|!

"or so. With offerings continuing

"MW

4° auiuus ‘support, the wheat Iaarlict M at the close rested 9i to $5 cont lower

factor and helped in the absorption of

iilly to the lack of moisture, in the winter wheat belt and to reports that condithiis in Kansas were on the de- cllne. Live ool was guided by‘ steri- ing which rapped sharply, advsncifll wheat prices.

ed on theliur pean horilon and there

was little tendency here to develop bullish enthusiasm for the present at Qlll

cash wi-eat and "coarse grain was doll.

F"? it'll?” 5"" ’ii°§.'i‘i"*".,"°£1

cr osg_ yunarye e 7s cs OLOII '

Barley-May 4m. July ‘ha. Oct mil.

M , 8 B . 4 ll . 5 40K, aoxilvalizofreedkgil o M

b31023. am. ma mi. refer-ted 2m. track 29

d c w 88K. track I05‘.

down by stock market weakness. groin a rsnees sec

;Z;§'..'.'."'§1.i. sxcliahTro. transactions ir ve sold~

{iii-e dailies were i0 the taco of

hard wlute‘r wnrat from the nited

Montreal llariiet g Siilolights

i-Q-i

(Canadian Press)

MONTREAL, Que, March 31- While the market in Wall Street moved lower in a very definite manner, today's session on the lo- cal exchange was ,l‘0dllfli.l\'8 of

..‘.,

cent sessions, values inclining to sag in only slightly more active deelinze. Of the lnterlisted issues here. Brasilian and International Nickel yielded small fractions, while C. P. R. was unchanged at the" close. A drop of six points in Smelters to 8i. coincided with the appearance of the compnms re- port for 1031, revealing s. marked

in line with expectations, in the [light of the drop in metal values curing the period covered by the staiiementfiuebeo Power was re- stored be free trading andclosed 11% points lower at 17%. The av. erase price of twenty stocks declin- ed .01 to a new low for the index.

There was again very little - tivlty in bond trading today. Some institutional buying of lntematlon- ai issues was reported, but private investment ‘ ’ remained light, as it has for the past week

on the light side, however, prices have held up relatively well, and

market is set for renewed strength on any favorable news.

The Montreal l Curb Market

Stocks lHighlbowiClose Beiiuharnols A ... ..' 415i 00 00 B liflssourl ...

10 l 19% Imperial Oil 0 Imperial To . In Utll A ,.. Lake Superior Mit Bob Co ,

Teckhllthes . . . alk Hir

Grain Market

. Wuvrurao ' WINNIPEG, Mam, March SL-Trad- era-moved to secure profits today and.

mini-d lower m dull irmluini. wine:

for the day. -

hfay closed at 0114.0», a loss of Si. whiia July and October ecah dropped l,§.at 03 and 65% respectively. ‘Export trade was light with only about 200.000 hushels_ worked over- iii ht. FlFfinels in the Liverpool and Ch cago markets proved n- sustaining

offerings. Chicago's strength was due princip-

New York Stock Market Quotations

Light and American Power and Light Eto ks Al ‘Chemical ... ... ..

a-rocx Jivanacas. (Copyright ion.

March 81 tiiliud 20rr 20ut 00ttL Today Mil-x 21.'i-x 015-: 68.1»: Pr" day 00.4 2;: 01.4. 01.0 Week are 00.0 00.0 00.0 024 1PM no _ 03.4 84.5 102.3 can leer ago ... NA 84.0 102.8 05.9 Yesi- ago ... 120.0 02.8 188.7 132.5 yrs ago .0 132.0 i0 202. ii yrs ago _4 iah 1 ea .0 Low 1032 ti . _5 High 1 40. .3 Low 108i . ,3 , . s

Low 1030 .. 112.0 s04 use .7

Hudson Mot ... . l In Match Pfd .. ...

WHAT TH! ITOUK IAITRET DID

Montreal . Stock Market

v ' tenced to six months in jail; he Quotatlons paid a fine of $400. On April 17,

falling off in earnings, and quite»

llllglillfaiviCiose .. 4

l‘ i: Foundry Pfd ...".'. C ... .. (‘an ‘In Alcohol ... ...

dealers feel that the domestic!{;¢>§L‘3:;;JIrLtH'-_H n: lll‘ I ... - . - . . . . .-

PRODUCE

(Conadinn Press) MONTREAL, Que, Butter prices dropped while eggs, cheese and potato quotations were. generally steady on the produce and dairy market here today. I nnouncemem; or Was it the purpose to .'eiluce the lower . grants to the exhibitions in the Pto-

Ye“ vince.

stocks held here which were

than last month and also last but still larger than expected, , .. _ 1 butter, in carlot or less, declined Hon’ Mr‘ sham‘ Th‘ Uinoum m a hm to threequartem of a cent the Estimates is just $900 mss than at 2d to 26% cents a. pound. Ontario fresh graded enrich or broken lots. were mainly Mr. Len: "What about. the ouilv- firm. extras at 1'1 to 18 cents and mg exhibitions], ' manna with mdahgédla; wuxl‘; iH‘Ol'l. Mr. Sharp: ‘They are prac- cents g damn, ‘Mm: a cent Qum ticaly the same. Last year the

N0 sign of he vy wheat buying loom- apLi-t mar odd-lot pales. 113,110 in

waist-Any m4,- riiiy. or. Oct coit- Oats-llay 50%. July I

casn ' moss - Wheat-d hard 02 . 1 nor 00%. 2 nor ‘track . no 1 dur 21c w 209i. d e w 20%. feed

Barley-ii c w- 8015. 30%. lie w 5.4%‘-

civrcaoo cuicseo. ill... larch sL-imsrsd tn a u: l t ad- ..3 2J2?” "‘ °'

Iiiaphaslstng setbacks in cereal pric- as tlforwrals to increase

cents on sach 1100 of produce

il wheat m -'< liaisons _ denim harms, rrnly

"iélfiu . n- ififii?‘ in

‘ti’. ‘liirf-“Fdilii

wick

w...‘ iicshseish Prone) ' 3mm“. ma" Much u__m_ stressed the importance of maln- gvm "mu “mud _ at the “m taining the Provincial Fair, and the

pier here today. . waonssanr QUOTATIONS

ceflfrgb’ the suggestion that there should be

unchanged to dive cents decline. DOIDIEIWIIIAT

l eff, asd provisions

041%

l ESTIMATES i- I

(Continued from Page 1)

he‘ was not permitted even to lay

iivzhlholyqlfilgielf lnfomfation, but he was engaged as w, a lawyer in the Courts.”

I Ipugi‘, ML ma: “I should know some_ 1 Mr. Dennis moved that the-item . l;

thing about it."

Hon. Mr. Stewart: You certainly slioifld; but there are a great many things my lion. friend should know that I am afraid he does not know. I defy my hon. friend, in the last few months that Mr. Haywood was under his government, to show where one information was laid."

Mr. Len: "He was the overseer there."

Hon. Mr. Stewart: “He was going . into court and taking cases. and he 200’. was paid a salary of $2,500. Today m we have three lawyers dam; this 7' work and o. great deal more than

. m; this man-a. leyman—-was able to 4

4'11 do, and doing it at a. total salary m of less than Mr. Haywood received. 14% In addition there are legal fees now 3., saved, such as in oertlorari cases. 0% which Mr. Haywood could not deal

‘ . ‘Li’; with." u 28% Mr. Lea: "I am not objecting to

18,52 a reasonable reduction."

1% Hon. Mr. Stewart: "'I‘hen what 98% objection has my hon. friend to 111;’, this item?"

,5: Mr. Lea: "There is a. reduction

- PM from $2,500 to $1,000, for a man

,2 with Mr. Haywoodb experience. 1 That h what we are objecting to." m, Hon. Mr. Sharp: “The member

IV 4 12% from Tignlsh tried to cast some re-

.“ flection on the prosecutors for tek- if» ing a. fine from second offenders. I have here the details of a. number of cases where the some thing hap- pened, under my hon. friend's ad- ministration, after jail convictions had been made for second offense. On March 5, 1928, a person was cen-

1930, a second offender was given

clear. On Oct. 2'1, 1930, a second ° offender was given 6 months; lie 1, paid $300. On Oct. 3, 1930, a. second 3* offender was sentenced to six 14 months; he got off without paying W" any fine." 1 ,

7:, Mr. LePoge: "Will you give the

15a‘ 1| m I fill-IDES.

11,3 (Hon. Mr. Sharp submitted the names to the committee).

“The records," he added, “are in the Prohibition Commission files."

The item passed.

On the item Registry Office, Charlottetown, ($4,800) Mr. LePage asked why Mr. MacDonald and not Mr. Klggins should be holding the position of Registrar.

Hon. Dr, MncMlllan: “Mr. Mac- Donald is arcturncd soldier."

Mr. LePage: “We are not talking returned soldiers now." 1S0 The item was passed after further 9'“ discussion.

911 The items for justice administra- tion, totaliing $68,050, were passed.

Agricultural Estimates

Mr. Len was pleased to iote that ' the Minister of Agriculture, not- withstanding the need of economy

31-" and retrenchment, was able to ob-

tain practically the same vote as ilnsi: year. The only reduction he Isaw was some $2,000 in exhibitions.

I10.

was expended last year. Amherst in Fair is cut out this year."

4

tationa to retailers were steady and Blunts were: Souris, $1,000; (leorile- receipts totalled 1,049 cases. Current cheese was changed at 10% to ll cents as was summer make at l2 to 12% cents ,, a pound. Receipts were 25 boxes. “M” u“ “me?

The potato market ruled steady, Him Mr- Sharp: "Yes." quotations of broken lots per 80 m. Les said if the Provincial Ex- iéoanbgcbesmbtzsinr 8: i: a cant: h: hibition gee-s on with ll. loss of the

us w an can

‘or Quebec ma New B. Lelfetrjal Kffllfil: of $152,000 it will neg: green moimtsins. Carlot prices were ' m “me c“ re” W‘ ten an“ . b,‘ chum‘. mm the submitted that the County exhib- broken lots levels.

town, 01,000; Alberton, $750, Egmcnt

i=1! 1m- Bay, r400; Amherst, asou.

Mr. Lea: “Is it the intention to

itors are able to show in their cwn counties and then by reason of the

° r ' generosity of the directors of the fish Quotations Provincial Exhibition are given the

privilege of taking their stock in free of charge. He strongly

superior advantages of this exhib- '- iticn to all classes of our farmers over the smaller fairs. g

Hon. Mr. Sharp disagreed with

any discrimination against the smaller fairs in favor of the Pro- vincial Exhibition. The same pm-

elghi; months: he paid $400 and got '

vision as last year has been made hood _ ' ‘° 1° m- all exhibitions. s. . _ w a ‘more was much genera-l flllfllh. Preach language and literature. lion on this point. The value of 0dr. '1‘. -A. Campbell thouaht- County exhibitions was naintained aiiouie‘ be completely revised and m“, hy It. Dennis, Mr. MacNutt, Hon. lji-llngual system introduced. i; 3g}: m. irate-n, in. a. s. Campbell. ' Ir. flhanedampbeli. , A‘ that an. Campbell's prediction

4i

The agricultural items 647.900)

passed.

The item for elections ($376) was explained by the Premier to be for the P01110812 of o. by-electlon in the Fifth District of Prince. No infor- mation was forthcoming as to the

date. The item passed. l Education

- $1,600, clerk to Chief Superintendent

u of Education be reduced t0 $1,500.

l-lon. Dr. Maclvilllan explained that this clerk was being given an extra $100 for extra work which he will be required to do in connection

with the teachers’ pension scheme.

Hon. Mr.‘ MacPhee thought the

increase was Justified.

ager.

secured.‘ Hon. Mr. MncMillnn: “Not yet."

plans?"

was that through co-operntion with the Maritime Provinces a. reduction would result."

lVLr. LePage thought it would pay to close the School Supply and make arrangements with the differ- ent firms ln the Province to handle the school books. _

lvlr. Dennis said efforts should be made to refrain as much as possible from changing the school books.

Hon. Dr. MecMillan agreed with both the last speakers. The in- struction given by the Government is to try and get clear 0f the stock that. is there and not to my any- , thing more than is absolutely neces- f sary. So far as retailing is concern- ‘cd, the Government is determined i to close the business as quickly 8.. possible.

Mr. Lea. emphasized the value of the oldtime school books.

at 1 p.111. the House tOOk recess.

The Committee resumed at 3.40 p m]

Hon. Dr. MacMllian in reply to

the Normal School had been ap- pointed last springqat salaries of $1,700 nnd‘$120il respegdvely. Frhere

h an addition-at $1200 estimated

for Mr. L. W. Shaw who 1e com- ing back this year to take charge ‘of teachers’ training at a yearly salary of $2,500.

Mr. T. A. Campbell thought the normal training questi was not so simple as some of the corres- pondents ln the press seemed to imagine. “These superficial criti- cisms should not be taken too ser- lous1y," he suggested. adding that in his opinion the main obstacle to securing an adequate staff of teachers is the low scale of sal- aries prevailing, which makes it very difficult, if not impossible, for the Department of Educa- tion to raise the standard.

One school inspector had been dismissed since this Government came into power, Dr. MacMillan said in reply to a farther ques- ,tlon. The reason for dismissal was political interference.

Mr Allen stressed the hardships on people with large families hav- lng to purchase new editions of school books every few years. He criticised the literary style of some present day textbooks. Mr. Allen complained that certain scholar-

of Prince of Wales College but the students themselves were not made aware of this fact.

that the Department would receive 7-8-1 Provincial Expenditure 0n the a wealth of gratuitous advice was Provincial Sanatorfum lest Yell‘ Wile already in a fair way of being ful- $18,790.

filled. He. thought the curriculum

Mr. McIntyre complained of the

should be pared of superfluous large amount bald in Bale-rice under

matters, but the Department will 1 have to drew a distinct. line be-

his new department. Hon. Dr. Mnclvlillen: “My hon.

tween the class of students who friends mflde the bargain!’

must go back to the farm and

Mr. McIntyre: "I want to know

those who intend to pursue pro- Why the expenditure W111 b9 5° fessional or academic studies. high"

The reason why doctors and lawyers were now required to t study longer at universities, Mr.

Hon. Dr. Macmillan: "You put, he plan through yourself." Mr. Len: "That's right, we take

Dennis suggested. was because Cred“ m’ m“?

these professions were “close cor-

Hon. Dr. McMillan: "Then whati

pomuons" and the "supply" was is the hon. member talking about?"

being adjusted to meet the de-

mand for such professional serv- through but we didn't ma“ m” oillce."

ices.

The item $1,200 for manager's sal- ary, School Supply Department, was ‘discussed. - A saving of $300 had been effected by doing away with the position of assistant man-

was no doubt that the basis of ed- Illgkrfgtkglgtmtclfimiikn; g8": gigzdwrizn‘ for the health offlcials‘ salaries." lmany suggesfons are being made,‘ ‘and most of these suggestions if Mr. LePage thought the School I Supply Department should be clos- ed. He asked if any clicopei- prices had been secured on school books

Ildr. LePnge: "What are the

Hon. Dr. Macmillan: "Our idea

Hon Dr . MacMlllan said there

t

carried out, will entail eddltlonal expense.

I5 that what the Dwple want? That, he though ls the first thing

Mr. McIntyre: "We put the bill

i