11- ‘illiifPif-i-

lllitlFf" llill

"ililliili

_ 1V. Y. Stock.

Markets At A

- Exchange ...“, ..., » "reroute and ilontrssLladudirial stocks irregularly bishar.

‘_*"" Toronto Inca-bower. ‘ l New !erk-~Stocks closed -liglitly gang GIVE. herwarruremberawofbythiw w“ m“ ‘u m’ '”'"'

"Uh 3%‘. fi°mohléonfiufi hI§T-"°§O-r£i'us‘i:s ‘dollar, down

c" M" h“ 1-82 to 00 20- .

C‘ rloticiown). ' '

Itocks Opoasd us! ' '

Air Red ... ... ... “.111 111 ,

sun Chaim . rc

tl B .. . as

Amerciians... . d. . m 1:: -—-—-

Am l!‘ W" . (Iobpstan anIWVard)

Am For Pow . 45$ 4! g 5 n a“

rs rs $v‘?}.‘,..‘,“_' ‘h g 15: lllgh Low Iallt 35 . 815i b1 W

Na U 88 81 8S 805i 84 80% '18 '11 '18 81% 81 81% I

6i!‘ IE4 I50

Uun Puc . .

Uuse Thrash ... ... ... 55

Col . 31 3i

Corn Sou 81% 3%

Con: ' n1 a um 14st

Lire: Ohio . 48% 48 I \

ihic Norm . 47; 4 as}; 3a 3r‘

Esra-la '11.‘. *1 =1 r “more

Colum Gas Elec ... ..... ‘l

Com 22

t“ Z2 Sept , 05 (Own: Irsss) -04% ‘ CHICAGO,‘ an. 2‘f—-Awlitin new

Del Hill! --- - Ma monetary development: st sshing-

ld I Dupoat ... ... . 08 ton, ss well as freds, uursv-elirig of

Eastman Kodak 114 Lanadian Government mar sting

Elise Auto Lite Co 25 plans, grain value: averaged s hit

llilec Pow Light 2 easy late yeatcrdsy. _

brie 109i The majority of appsarsd to

First Natl Stores 51 believe that tbs forthcoming decision

Freeport lie! .. . 2 of gold clans: would form a major

lien liilec ... 231i turning point in grain markets

(.en Foods .. 34 (iuesseu on the outcome. however,

31% were much mixed. l0 Wheat closed sluggish. unchanged 10 to lower compared with yesterday's 22 finish. May 9755-36. corn id oLf to i‘ 2 up. May bah-Ki, oats unchanged tn 21 down. and provisions unchanged to 10 l2 cent: decline. 4o wrnmrrnmoan. ‘T-Lscking any 28 stimulus for s definite move either 8% upward or downward. wheat rice: b1 traded sluggisbly within a -ceni 17K pnice to close 1,4 lower on the Win- uipesg in exchange Saturday. hfsy 10% at K and July our . ‘Z8 A pause in export buying o! Canad-

.ig Myers B 10d lan wheat, following lair-sired sales

.iquid Carb . 28 Thursday and Friday. tended to re-

foewl lucorp B3 strict trading. Operators showed

Looco Wiles Bi: . l l5 little inclination to ste in on either

ilcltecsport Tin Plate .. Ill 04 side of the market an the session

black Truck 30% 20 ws: the slowest of the week.

Math Alkali Q Steady movement of wheat from

iiont Ward 20% sbuthern-besuisphsre countries to the

nsh hlot 16% Orient resulted in p 5d advance at

{all Bis 20 ’ Liverpool and s small gain at Bueuo:

Natl Dairy Prod lii 10 v . but id little to enliven the

Natl Pow Light '1’ a xilzlirliipaghmarket. Chicago was frac-

' .. o wer.

11 ranger saiss of Ausiralian

limlio Corp llaillo Keith Orph il Rep iron Steel . 14 Safeway Stores .. 40 ra l4 Socony Vac 14 Suubb Pac ... iii a South Rail ... .. l3 l2 Stand Blonds . 11% 11% Stand Ga: lillec 4 3% Stand Oil Csl 30% 80% Hand Oil N J 42 42 e: Co . . 1i) 22 Studebaker .... ..... 2 2 Tex (lulf S . . . 34 l4 8411' 40K l?“ 12 39. ‘H 1N 87 1D t 4 West Ilso ... 88% 88 Woolworth Co I_ 68

tunic/RB

Wright Hsr . . .

C urrencics

. (Canadian Press) NEW Y0 K, Jan. fl-llefiectlnl oogsidLerabie uncertainty over th-

r , go the French franc declined sharply i: Saturday‘: foreign erchangc markets Sterling also showed a substantial llfop sad the Canadian dollar yielded a small fraction. - Th: franc closed at dim‘, off 08 of a cent The pound was 155 es lower ai $4 50%. The Douarrion dollar ‘ scou

lad st 8- . n: ag- II — ill ‘isbriiiirgeillah 21 n. a sterling suffered a' sharp drn ia

Saturday's trading on ifoatmsi for- liln exchange markets walla thv French arena followed suit and the 311i tstes dollar advanced frea-

ly. ho and lost I 0-10 to l I 1-10 American dollar was up I-il t in 8-82 of one paraeat d the Irancb franc lost to d II eaats. ~. '

=ce~cm=me==

wheat were reported. tistics out o! Argentina‘: 335,000,000 rt: this week 305.- 000 buflieis went to Chins. in addit- ion to 1.0081000 bushel: of corn and 51.000 bnsbei of oats to the United

fill: wihal was quiet, but ssls for hture flpmurt of s ‘quantity of maIf-ing barley to the

to J’ Ibo bushel wheat expo

enliv-snsd otherwise dull ...... ia scales , whose futures also

were drsggy.

Church‘ Warmly Congrfa tulates Government

(C. P. Iy Guardian’: Special Wire) OPPAWA, Jan. U.—Intefest, rates on moriflloo and building loans should he ’uced. T. l... Church. (Cons. flroronto East), said today in the House of Commons as he coar- tinued his speech in support of his resolution urging inauguration of a national housing. building. and re- construction policy. He started the speech yesterday. I

Restrictions imposed on the ac- tivities of the Federal Government by the British North America Act 1dr.

ever, to prevent the federal author- ity granting money to assist local authorities in building activity and to lay down stan‘ ds for the build- ings to be erected and rules for method of expenditure. The project should be carried out by local euth- orfties as the crsatim of s nation- si. housing commission would only be s waste of time and effort.

Care should be taken in the housing scheme to see that new houses sbouldnot bear high rents. This meant economical building and low financing .

"I wish to congratulate the leader of the Governmfint qn getting our party back-to the rnsssas .of the people where it belongs." said 1dr. Church. H: wholly approved the Prfms s rafmm

...

£3“

1:1,}!

. 'if§fsi1:it1ii1"'@"" *

f“. c. s-PrQiPuT-Q

Ffiiilsofmliiclcivfi -A

Jinuo until after the

...". I 1

i MdRKEiGCSSlP

(,7 "Fl-"Qilll Ward's Special» WIIQ) t

~ IOIIING IAIIIT LITIII

NEW YORK. I Y,. Jan. lid-dine market o ued little changed and h!" l‘! "l!!! firmed to close slight- [y-hig r oa the close. Cons. fins and

dio pfd issue: were shout the only rcstures of the day. Utility pone; also were strong again with the hai- anca of the bond list firm, Wheat vv-sl trsetloaally higher.

Price fluctuations and volume gave

been so sarsli this wesir tint n

significance can be at sd to the market's action Volume ha: been gradually deolini sluco late Do- cemher with a brief rise during the period of weakness about two weeks

ago. Possibly this condition will cou- "Goid Clause" decision is announced hut pending that event or definitely encournglg action on the part of the market it- self we would continue to stand ssldo and await developments.

baidlsiv and Co.

IIJHIABY

NEW YORK. N_ Y.. Ian. 26-6011! Bars quoted 141s 8d against 141: 415d ‘gainst 141. s4 J

riday.

House passes Adruiniptration‘: Lib-

artrLoan Act Amendment.

Great "Northern Dec. net o sratlnl income 11,204,808 against $88 a0!!! ill illackilmialloflzmonth: 816.101. 0 l8-

hl .

General Motors 10M hat profit 894.- ‘IQQD equal to u.» a common ah rs against $88,218,010 or $.32 1038

Dario sharp increase in Steel has- insss, the s my week for office and cIal-ical amp oyees o! Republic ltsei and subs ha: been restored.

vs passes BIC Bill. extending life o! Corp for two year: and cou- usw railroad aid to 050,000,010

fining is limit tinn: goes not apply to existing

power 0t ll I‘.

President Roosevelt and utility leaders and Federal power agencies will hold another conference during tbs-coming week. President declines to comment on holdin - leg- isietlori. Conference hursdsy concerned with holding company leg- islslirioa. mrsl electrification and sales of appliances.

Temporary postponement affected ot threatened walkout of fist glass workers employed by Libbey, Owens Ford oi Toledo.

Mt’l. Stock Exchange

(Quotation: hrnlshad by (hirsute. and Ward naasnher: of the llantreal Stock Iixairsssa. Ionireal Curb Ila: ket, ldl Richmond ltroot. Charlotte- town.) v

‘Dow Jones

Iisls 14w Last VD

80 lad 11B 12 10298 IOLM 0.4-2 20 Rails .. M18 Milli M62 0.11 20 Util . 11.75 11.25 17.85 080 Dow Jones.

M’ ll 1608 01180118 (Canadian Dress) MONTREAL. Jan 27-

Whest nor no 2 as.

Oats feed no 1 46.

Falgur spring wheat patents first: Flour seconds $4.90.

Flour" bakers $4 80.

Flour winter wheat patsnt: choice

i_ criAizLQritrowN cusaumn

03rd Annual -.Rcport Confederation Life - Association

paid-doc in- . in brflnes: in force, in total assets, in total Income and in surpiussooiunulaied for future dividenrh to participating policy- holders, are the outstanding fea- tures of the 60rd annual report of i-heboarddweowrsoftbecorr- feder ldfe Aaooiatziou for the year i904. i

New insurance to the account of $40,909,704 was imucd and revived in the year, an increase of $8,081,- 534. The total insurance in force as st l‘ ‘ 31st, ‘ -‘ to $S063i3.04l,-an increase of 14.169,- 208. As consideration for axmuities, 82.00% was received during 1934, an increase of $401,662. ‘rho Confederation Life's total net. income for the your amounted to $21,557,009, an increase ovu- last year of $808,695. mores of receipts

over didaursements in 1984 amounted to $5,985,000. ‘Ibtal assets at the close of the

year were $98,131,082, an incrcaseof 04,05,910. The values at which the assets are carried in the balance sheet are more than $800,000 below the valuu authorised by the Dom- inion and Provincial Departments of insurance. The reserve held under assurance and annuity con- tracts now amounts to $85,598,898, an i. ase of 8.833.096 over the yesn- 1908.

The surplus earned during 1034 unountod to $2,807,911. and the total surplus as at December 31st, was $7,760,960.

Payments to policyholders and

Y’ cYE-JI BOND DQ

ltooks '4!‘ 0% $4.40 to so. beneficiaries during the year 133.,‘ §l§}‘,‘.;‘{.“§° 7°" ‘W’ '° "'°°- amounted to amnion. Death m‘ hsigdgélings 22:0 ssz zaaa-za claims amouniizrg to $2,727,906 were ° I ‘"1 1d urin th h vi 1E iiifififl°gz,,‘°,§',"-",’.g’fb”-” Liliaygoldorze eregigedw lgiivililiehttg g9 Hay no 2 per ton csrlots 5 00. WllICh limminiled .130 $2,150,503. 11,5 C No 1 Ont m1 10 -11. The progressive service of the 1-1 Bflgfgj 31",? "94 i" "- Confederation Life w the insuring 2%?‘ g". n. ...-i...‘- A 1 large ss. Public. its Increasing sir-earth and o4. ggs A 1 medium ar. stability, is shown in the following 3% fig: f: iififfyéli.’ 80' percentage increases, com/paring the n}: m". ,._..,,,.,.,... ,8 1934 figures with those of 1924- 13, Eggs A pallets 21 Payments in policyholders and 2v "I" B "v Z5 beneficiaries. 841%: dividends to “f”. Ki‘. "¢'{“‘“‘““. " policyholders. 324%: assets, 244%; m... T... ca... ,, 901,5 léolglggg 03o sow-Iss-n. income, iiflfmsurpius, 169%; busi- gendSneeI Wares ‘m l, E I 83,: dggk ness in force, 196%. Ill.‘ I . . . . . . . ,. - . _ NEW yQRK‘ y _~fl_ In 1834. satisfied policyholders. a‘? 15:12: if???" axle commggsty lnpglpggmzfixgq?! 3115 resident in Canada, applied for m: fro... .1... w ' m '“"“" "any W“ m‘ W‘ i‘; '1 i" ~ y f d m, cop . or an snroimt equaloo - areas.’ 5:22"... .1. igjig}; ...':.".':.'.":;.*::.i.. mo» m. o c- Qommnyb we Mont Power arr; (Co-m chit: o 1804-5 low 126.0. new Canadian business for the year- g-rtl sfereelwci; - -- ggii l ‘l, P. “I “°°¢>">~ The high grade of the securities I ... ... ..- Pow" Con, __ 9% _ in which the assets of the Con- uebcc Pow 1o federation Life are invested is Bhamnlg: i“ m 111214 _N shown in the following schedule: 8m, t.“ C" Pm "w 41;; ‘~ ‘ ' A ‘Government and rnimicipalfiaonds. Win lilac .... .. 2 - a ‘ * " 411-25?)- oiihov bomb. city I W11 IDOIQQQEQ w; O Y conourhfhh... 21:55:11.... in n. es. 1.63%: head office and Gym-g; e331, are: ::'..":*::.::."::. ,';;;*:-:"*.:."r.; mmm“.‘i‘i‘é°“““a....‘"”’%.i.iii‘fi.bi' °" z Y. . o 0r . 117.19%. Kilt-still? new m» owl-m PM m“ o‘ can.“ _ _ _ _ __ 56% closed narrowly lower. Teck Hughes 106115, 3.11%; preferred 51-0016. 1»-

NEW YORK Excigizvcz

(By Frank Macmillan) (Associated Press Financial Writer) (AI. By Gusrdian’: Spcoial Wire)

mow YORK, Jan. 2’1—lxcept for a few issues which skated along on firm .icc, most securities slcsbed around without getting anywhere Saturday. I

Business on the siooir exchange jogged along at a little faster hour- ly rate than Friday but this was a reflection of greater activity in a few shares rather than il-ncsuse of any general broadening in mar- ket interest. Stacks broke the tape a. little behind Friday's finish, clos- ing at 39.20 in terms of the Asso- oiated Press average of so issms. compared with 30.42 in Friday's ses- sion. ‘ The rail shares were soft al-

though selling in this section was/

mi; heavy. Th; specialty bush best- er: man shares and some of these darted

tram 1 to 3 points or s0. Shares ggich surrendered fractions in s point. or more were Bantu Fe, Un- ion Paciflc, Delaware and dson. Northern Pacific. New York Oeu- trai, Case. American Con, Consoli- dated Gas. U. S. steel, Du Pent, and Radio Prefermd B.

Canadian issues. for the most part, conceded small losees. In this category were Dlstilrrs-Srgrams. 8mm Walker, Hollinynr, Wright- flsrgreflvel. Dome Mines. McIntyre- Porcirpine, Roz-ands, Imperial To- bacco and alternations! Nickel. Canadian Pacific. Canadian Mar- ooni and Dmnlniorr stores improved fractionally.

The press of money in search of workwssagsinnotedin the bond ‘ grads paper was firm. Some of the speculative departments benefit-foil by "I o" erfiow of funds from above.

PRODUCE

rsde butter anded the weak “ms a pound for carlots higher than s two cents

. dgo 2b cents s pound and r t: R oe s.

v S}... e g market prices wars sssy t tbs star‘ of the woos hat firmed Lear, closing about unchanged from la lainrday. Graded shipment: in

gen rail as E'E:§?"'.::.:.~.:: fit‘. '2: h i. {flee-as m a and ins fir; a

' 1 h e t» ht 10K Qggtsn: poueminfor lat?“ ll make 1M to i! cent: for summer

u: ' were a is Id to p’; 80"poun|| sg mew h: 43h M rrnls and l‘ IlAsds-X U I5“-

x

sgedioscareupafew‘

cents to 1 while

y broken lot sales Hoiliuger ins:

25, McIntyre 30 and Pioneer Scattered trading in

15.

losses and gains. SmalI advance: were boarded for San An- tonio, Vcjures,

(C adl TOllOltiTOffau. ‘éil-P-n") Stocks

Acme Oil .. .

Colrruiarlo . Coninrnm D Mine: . . . . .. . Eidomrln . . .

Moflihli Newbec .. mlfllbing Nornnda ... . Olga Oil .. llsymnstcr Pet

o . ‘ick Cro "looser “reniirr .. Premier Quernont .. Read Ant-b . Reno Gold . Roche . Royallts iisn Ant . goo Ain . . . cu Tih ... ... .. at Anth . Sud Bahia llullirnu Tack Hugh Towsgnaac Tresdwell Ventures White I: . . . Wflsht Total sales 15,000. UNLIITID

Aldermae . .

traded in heavy volume on s price lug i’! the other glib-price gold shares showed mainly

10 cents. Dome 15. Wright Hargreaves the secondary gold groan resulted in ubou-t an even. division of

I Syivanite 51pm; and Gods fluke and minor recessions for Picklo Crow, McKenzie and Howey.

06%; common awoke‘ (companies with no funded debt, mainly Canadian banks, trust companies and Comimsmnes’ Gas Co) 1.07%; common stocks (funded debt) 34%; cash and sundries, 5.12%.

In presenting the report, Mr. C. S- Macdonald, president, pointed out that, without government lcrferenoe by way of codes or other measures, the business recovery in Canada. has more than kept pace with that experienced in most 0d the other countries of the world. I-nuporte for eleven months of 1834 had shown an in- crease of over $108,500,000. or 23%. compared with the same period of 1988, while armor-ts has shown an increase of well over $111,000,000, or 30% The excess vsiue of exports over imvofis was over $117,500,000.

Conditions in railway trans- portation whiie still below nor- mal. showed improvement in voltune of traffic and earnings. The situation, during the year. in the automobile ind/ustry (86% increase in pr-oduction- in the mining in- dustry, in the production of iron and steel, and of newsprint, in the lumbering businem, in the out- put of electric pcwcr, had shown great improvement, while agricul- ture also took a prominment place in the impmvesnremt over i933 this was the resuitofinorcased prices rather than increase in production. In the Canadian bond market. the outstanding feature Gilli-UK the past year, Mr. Macdonaid said. had b::n the steady rise in the market pfcos oi’ high-grade securities, lead-

V. ‘ ing in turn to firmness in the best

corporation securities and finally to investments in carefully selected preferred stocks. The rise in market vsiues- of Dominion and Pro- vincial securities during the year was ps/fticuinrly marked-

"The number of defaulting muni- cipalities increased during the year, and the Province of Ontario," com- mented Mr. Mar-sic id, “would ap-

pear to harbour an undue pro- portion of the defauibers. There seems to be s raoher widely held

opinionihst lower interest rates on dehentu indebicdness should be conceded by the debenture- holders wiihmit. regs/rd w the ability of the municipality to meet its conmctusl obligations. oso who hold this opinion have, ner- bsps, not considered the serious effect upon the credit of the muni- cipalitla, which will become very evident when further borrowings ere necessary. There is another side to the picture-the chief in- vestors "in this type of security are ills life, loan and trust companies. who are charged with investing the funds of timussnds c-f individuals

_ sprail mcam. whose savings have been entrusted to the ’ ‘ way of lifs in-

pem

I f‘ loan slid tzusi. ccm- corisdquent loss in the many thousands of our

"citizens should receive the _ consideration of tho!!! in sntbwitp-who may be mntemiflsb 211:“ defiihsdjusiment."

“b.

been reduced and the return from To L51‘ RCOWIS L1G '1‘ “Mm oumousea‘ etc" If“ p" V‘ the invested assets has been mcqsti huusgkecmn; 1:110 (finished b2‘..- __‘_._.__h"el (.“"'rd““‘ .0??? __ u satisfactory. The practice of tn ‘mums hmUL A 1 G d1 _ '- i Amociiition has been to carry its e pp1)_',-33‘1’;f1-;9!:31_ CBILDIENS 3 Pmuzrmio“ g assets into the accounts at their suits. 81-98- R P. Simpson. "1 book valuefl. which, today. are well wanted Queen Si. L-BBOQ-l-IB-Bi

. w the l board, C. S Uwacdonald was ra-

j, '1' i": ;'_~. . V V 7 r . H 187l-SECURlTYrsnd STABILlTY-IDQS‘

‘The Sixty-Third Annual Report or u...

Confederation Life . , ssociation. . 1

Show: ihubai- i-lre end of 1934.11“ Association has iaerassail ifs resources and strength. even over the vs strong posi- tion of u year ago. "The increase la Assets. aw laziness. _ , ,, Business in Force". Income and Surplus. qulfa clearly reflects . iheimproverneniwblch has token placeln buslneesnsuwhols.

New Assurance: Tots! Assurance: In Force

in 1934 As s! 31st December, 1934 M» ‘

040-939-704 $305,213,941 =7‘; . l= “‘ "‘°'°“°° Ziiaiifiks-z" °' 2°95’ A- ime- u. amass s!!! 19o!»- . ' ' T0TAL ASSETS jl.» . ‘f '0