aucusr 6.193s

t STUCK Q

WMARKET

(p; Johnston and Ward's Special Wire)

MORNING MARKET LETTER.

NEW YORK, N. Y" M18- 5- 1-h; utilities were again the “my” of the market Saturday.

‘The action of the House u few dgyg ago in maintainink its posi- Mon against the death sentence and the possibility that the legis- lation might be deferred caused very active buying 1n the F0111)- The balance of the list was car- ried along with minor 381M 101‘ m. most part. The industrials and rails are still in the narrow trad- ing range in which they have been since Tuesday. When thi! special strength in the utilities is over a. good test of the general market will be afforded. We feel the out- look for Fall continues favorable but the action of the market sug- gws that some correction may be necessary before the advance can be resumed.

Laidlaw and Company.

SUMMARY

NEW YORK, N. Y., Aug. 5- Armstrong Cork Co. and subs in 51x months ended June 30 earned $1.26 a share against $1.16 a share in 1934 period.

California Crude oll production during week ended August 3 aver- gges 552.000 barrels daily against 567,000 barrels daily in previous week.

Despite sharp reduction of auto assemblies and relative light sup- port from new construction and railroads, magazine "Steel" says operations increased last week 2 points to 47 per cent.

. White Rock Mineral Springs Co. in six months ended June 30 earn- ed 74 cents a share on common against $1.06 in 1st six months

1934-

Phllllp Petroleum Co for six months ended Juno 30 ealned $1 21 a share against 60 cents in first half 1034. In quarter ended June 30 company earned 64 cents a share against 43 cents a share in 1934 quarter.

Liquid Carbonic Corp. and subs in quarter ended June 30 earned s1 25 a share against $106 in like 1924 quarter. In 9 months com- pany earned 84 cents a share ag- ainst 3l cents in like 1934 period. Allied Mills Inc., and wholly own- ed subs in fiscal year ended June 30 not income after charges equal

6o s2 35 a share against $1 a share in previous year. I. C. C. replying to Senator

Wheeler stated that the commit- tee would proceed under the law in carrying out the duties m‘. upon it in the matter of railroad reorganlzatlons.

30 1nd . 1261112496 135.90 .007 20 Rails 34.98 34.66 34.89 0.16 20 Utll 25.15 24.05 25.03 1.11 40 Bonds 96.31‘ .04 Dow Jones. BANON SAYS

MONTREAL, Que., Aug. 5-

Traders who have been acting on my repeated buying recommend. ations in both holding company and operating utilities saw their profits chalked up impressively on Saturday.

One of the star performers was Consolidated Gas of New York, which I have been consistently recommending at various prices lower down and again urged last week as a buy for an immediate advance. Continue to hold gas. Electric Bond and Share. another stocks recommended lower down spurted to 14 1-2 on large demand. Continue to hold for‘ a. higher level. On minor dips buy Cons. 58-1. Public Service of New Jer- BBY. Am Waterworks and North American. Volume of trading in 801d shares was very low on Sat-

. IAIING LITIIB

urday while prices in most issues remain pmcticallsf unchanged,

Advertising Rates-Payable in Advance

on word; Wooten: and linden loeail. It

Central Guardian locals. do

our woni- Anunununonia and (‘o-lug I lo per word: In lsunrlun Neill-ea, 70o.

Spiritual Offer-Inga, (infill. 00o , O0 her iaoin Notion 0| ‘thank: and word num- ratoo on application.

ifiuilnun Charge for any advertise

BATll-lc per word, three inur-

peg nnl! Appnrlufol. 70o. poo

molt twouQ-lln OOIII.

GOSSIP

purchases of gold shares may still} be deferred. ‘

Baum.

Saturday Afternoon

NEW YORK, N. Y., Aug. 3- Wheat and corn sold off about a cent each. They are not likely to react much further before the corp report. Dec. Cotton sold at 11.20 and very moderate pur- chases may be made there but it could react to about 10.90-

The market rallied with the utilities particularly strong owing to the expectation that the Utility Bill may die in commit‘ . On that possibility I recently recommend- ed Amn. Waterworks below 11 and it has rallied to 14 so far. If that Bill fails at this session. Am. Waterworks ought to go 10 points higher still.

A year ago when the industrial averages were below 85, the util- ity averages were around 21 and they kept declining while the in- dustrials kept advancing. 1 think the utilities should go about 2 points higher on the average be- fore having much of a reaction. Intl Telephone recently recom- mended below 10 closed above 11 but it is away behind the market and should be good for several points more. Int. Paper pfd. recom- mende‘ a few weeks ago around B sold today above 12, it ought to go somewhat higher still. On the same day “July 26, 1934," when the industrlals were below 65 the rail averages were 36. They have never reached 36 since then while the industrials have advanced 43 points on an average. I believe that during the next phase of the bull market the rails should do considerably better but they might react a couple of points further first. Celanesc has been acting better lately and I understood their business has improved great- ly during recent weeks. If It should react near 27 buy back half of the stock that you had been advised to sell above 28. Radio "B" pfd has reacted 5 points from the top. but since your remaining half should cost you less than nothing would still hold it for a_

new high. g » As to tho rest of the list,‘ meaning the industrials, I still

expect that setback but it should not be delayed beyond Tuesday at the latest.

Baring.

Miscellaneous

Aanadim Press) MONTREAL. Aug 5- Wheat, nor no 2 88. Barley C W no 3 48. Oats, C W no 3 48. Oats C W no 2 53. Oats c W no 3 46. Oats feed no 1 45. Flour spring wheat

firsts, $5.30. Flour seconds $4.90. Flour bakers $4.6). Hour bakers $4.60. Flour winter wheat patents. choice $3.30 to $3.40. lflourhwhite corn $5.10 to $5.30. Bran ton 21.25. Shorts ton 23.25 to 24.25. Middlings ton 28.25 to 30.25. Rolled oats bag 90 lbs 3.25. Hay no 2 per ton carlots 11.00 to 12 50

patents,

Cheese no 1 cur Ont 9 7-8 to 0.

N: 1 Q1169 1-4w 93-8.

Butter no 1 20 3-4 to 20 7-8. lwgs in cartons A 1 large 39- Rgs A 1 medium 37. . Eggs A large 33.

has A medium 31.

E885 C 23. Potatoes new Que 80's 45-50. Old Que 81's 27

‘(ilit-IIJ

lo pro word; Claulld not; Linda of Ilornl and Initoro ol Condnlnneo, 10o. incl u 4c. pm

tlsllmgzincxulrgiu ammo, strictly For sale To Let sou. sans-so ausnrms WIIIAT.

To LET-NEWLY DBCOIATID ID8111110115. P. J. IIBCDOIIBId. L-IOBI-tf

N Lar- - nnsmAnm RESID- arwc m good locality. Phone 633-J. 11-8604-3-0-01.

T0 In - AUGUST in. summon. (Jaime at Langley such. Apply Mm J. A. Meuarvy, Langley

L-8629-8-3-3i.

Miscellaneous on ma inn-nu on wnlr. Rflnonniblo partied - llackonlls" Station- n-ua-o-a-al.

WHY N01‘ "IAIIE ADVANTAGI oltinmuoblargerinoolnonemlr- '4 b! purchasing o guaranteed "mllltrintbalmufo. Conic you notbinl to investigate. Boa J. Alum. Currie 211%

‘ 1.-

Boom Finn: Tm“

~$~nlu

W. D. B066, Kinross. 11-9692-8-6-11

F0! BALI - IIAV! JBOWN Paper suitable for placing under run, e"o. Guardian Oflicgo.” a

I011. BALI — soo GALLON COM- prosed air tank. Apply Mrs. Alto Rodd, Buckley. L-8337-8-3-3i.

I0! BALI - AUCTION I012‘!- Bive, Bridll and Wbist Icon Carma. Guardian Central Job Printers. Nov. i-tf

I01 BALE - GUERNSEY COW mo years old. duo w freshen.

ma. do a, Yank Point. om“ en I b8319-9-3-3i.

LUMIII - BOARDS. BIIIICLIB. lcnntllng, latheo, lobster trap sills and bowl. lowest vrlw- "is Brod. Mt. Stewart.

' Male Help Wanted

IIPIINTIOI WANTID ‘l0 ' film Barber Trade. 511m 9W1" training. Molar Barber coi-

Q‘, N459.

Exchange

Houston Oil l-Iurilvlot Intl Ru . Intl Nickel . Intl Tel Johns Man .. Kan City South Kelvinator Ken Copper Lig Myers B Loews Incoro .. McKeesport Tin

A N. Y. Stock

-___ I talus furnhnod Johnston H‘!!! monbarl ofwlllo Hill Curb Market. 1.501250111101141 Street Charlottetown.

._-.._-

"Bell Tel .. .130 130 Bu: T L Pow .. 5% Build Prod 31 Can Bronze 30 Can Car Com 7% Can Cel Corn 33 Can Cem pm .. s5 Can Hydro Elec pfd 49 43 Can Hydro Elec 49 49 Can Ind AlA ... 8% 6% Can North Pow .... 21% 21% Can Steam 1% 1% Can Pac 10 0% Cock Plow 8 8 Cons Smelt 168 167 Dryden Pap .'.. 3 8 Dom Bridge 29 28 Dom Coal pfd_ 17% 17% Dom StebCoal B 4% 5 Intl Nickel .. 27% 28% MoColl Front . .. 13 13 Mont Pow .. 31% 3i Natl Brew .... 36% 36% Power Corp .. 7% 7% Que Power .. 14% 14% St Law Corp . 80 Shawinlgan . - 16% Sherwin Wii .. 11% 11% South Can pow 11% 11% Steel Co Can Com . 50 50

BANKS Commerce .143 142 Montreal .. Nova Scotla . . . . . . . Royal 145 Bank of Canada 58

(quotations hniolod by 201mm; and Ward. Iuabon of Ila-erg! Btooh lulu-III. Montreal Curb ilarkot. I50 Ilohmud Ill-rot. Chu- iomtowl.) .-_._.

Am Iibr Pow pfd 37% 37% Allied Chem 150% 159% Allis Chaim .... 26% 26% Atl Ref 24% 24% Amer Can . 146 144 Am Car Found 24% 24% Am Loco i0 17 Am Pow Light 8 7% Am Rad . 17% 17% Am Smelt .. 42 42% Am Sugar -.. .. 52 58% Am TeLTei 132 132% -Am Tob B .....100% 100% An Copper‘... . 16% 16 Atchison .. 1 26% Auburn Auto 30% Bald Loco .. 3% Balt Ohio .. 14 Barn A 8% Ben Aviation 17% Beth Steel 36% Briggs . . 37% Byers A M -.... 16% 16% Burr Add Mach .... 17% 16% Con Oil 21 21% Can Dry Gin ... .. 8% 9 Can Pac - 10% 9% Case Thresh 65% Col Corp ... . 29 29% Com Sou . . . . . . . .. 2 2% Cong Nairn .. .. 27% 37% Ches Ohio - ... 46 46 Chic North 2% 2% Chrysler Mot .. 59% 58% Colum Gas Elec. .10 9% Com Sol . 19% Con Gas 31% Con Oil i) ‘Con Can .. 37% Corn Prod .. 71% Del Hud 34% E I Dupont 107% East Kodak 144% Eiec Auto Lite ..... 24% 24% '1!i!ec Pow Light 5 5% Erie .... l0 10 First Natl Stores 55 55% Iireeport Tex 25 25 Gen Asphalt 20 20% Gen 111cc 39% 29 Gen Foods .. 36% Gen Mot so 39% Gold. Dust . . . . .. 16% 16% Goodrich Rub .. 8% 0% Goodyear Rub .. 19% 19% Graham Paige .. .. 2 1% Gt North pfd . 18% Gt West- 5118, 39%

Mack Truck Math Alkali ... 29% 28% Miss Kan .. . 3% 3 Miss Pac .. 1% 1% Mont Ward 22% 32% Nash Mot .. 15% 15% Natl Bis 32% 32% Natl Dairy Prod 16% 16% Natl Pow Light 11 11 New I-laven 5% 5% New York Cen 20% 20% North Amer 3155 North Pac 17% Pack Mot 5 Penn Rail . . _ 26% Pub Ser N J 42 41% Phil Pet .. 22% 23 Phil Morris 49% 49% Radio Corp 6% 6% Radio Keith Orph - 2% 2% Rep Iron Steel .. .. 17% 17% Safeway Stores 39% 39 Bears Roe 54% 54 Shell Union Oil 11 11 Sim Co 12% 1m Bocony Vac .. 13% 13% South Pac 10% 19 South Rail 7% 7% Stand Brands . 14%‘ 14% Stand Gas Elec 7 7 Stand Oil Calif 34% 35% Stand OiLN J 47% 46% Stweart Warner 12% 12% Studebaker . 3% 4 Thcrmoid . . . . .. 5% 5% Tex Co 20 20% Tex Gulf Sui .. 34 34 Tim Roll Bear .. 49% 49% Union Curb Garb .. 03 04 UnlonPac...... .105 104 United Air .. 16% 17 . . 4% 4% United Gas Imp . 10% 10% U B ind A1 . 41% 41% U S Rubber 13% 14% 103 42% 15% 5% 5% 45% 03% 61% 17% 3% ‘ iolllllhl" ) @4100. Aug. l-Btirrod b! lkylochtinl Minneapolis wheat W160i. wheat in Chicago today want strongly ilpward.‘ I doqiih auaumoouuarof MI bluhllll increase 0f 5B0 Uni Btoto wbutnviaiidu ‘lowly til pact wook. Bulls ~ to uartiinl advaaau in. 1mm M“! If"! Ava in ll."- a m 10"" no: for rut damn- Whlat cloud $10110 I 8-4-9 1-4 lbfll lllilh, om. I174 toImvrul-lolitoi-lup. am 11-1-1, sol-t. no 14 u. 1- on1 MIMI.‘ 1671a!" ~

‘on tho two ‘ i ii

Mt7. Stock Exchange

MT ’L. CURB

(Johnston and Ward)

Bloch Open Last Assoc Brew ... ... 12% 12% Beauharnois . . . . . . 3% 3 Brew Corp com .. .. 3 3 Brit Amer Oil . 1e 1m Dis 808g 21% 21% Ford of Can A . . 27% 28 ImpOil .. 19% 19% Imp Tob .. 13% 13% Intl Pet... 35 35 Noranda . . . . 36 33

LIVESTOCK

kets today totalled 6,304 head. Cattle receipts were 2029 head.

Medium steers brought $5.25 to $550, and plain steers around $4.75. A few cowl were weighed at prices ranging from $2.50 to a. top of $4.25.

Calf receipts were 1,073 head. Calves were steady to '25 cents higher on common to medium quality and up to 50 cents higher on good veals. Calves were mostly $6 with medium kinds from $4.75 to $5.00. Common drinkers and light veals from $13-75 to $4.60. Grassers ranged from 3 to $3.50 with the bulk between $3.25 and $3.50.

Sheep receipts were 2,267 head. Lambs were slow and about 50 cents lower than last week, when graded good lambs were sold most- ly at $6.50 with culls out at $4.50. One load mode $7 with culls out at $5. Lambs sold in mixed lots brought $5.40 to $6.21 fiat. Sheep were from $1.50 to $3.

Good and choice veal $6; com- mon and medium 3.75 to $550; grassers $8 to $3.50.

Ewes $150 to $3; lambs. good. $0.50:.common, 4.50 to 85- .

Rog recipts were 1,935 head. Hogs were easier. Barons brought $9.75 fed and watered. Road hogs brought $9.50. Selects drew S per hog premium. Butchers and heavles were $9 25. Extra heavies $8.75. Over 30 per cent of the hogs were lights and feeders. ‘The bulk of the lights were cut $1 per hundredweight. Bows were from l6 to $7.

EXCHANGE‘

(Canadian Press)

MONTH-EAL, Aug 5—Br1ti.sh and foreign exchange in relation to the Canadian dollar as com- piled by the Royal Bonk of Can- ada closed today as follows:-

Argentina peso .2666.

Belgium beige .1004-

Denmark hone .2216.

France franc .0004.

Great Britain pound 4.0049.

Holland flu-in .0709.

Bunlfl’! mngo .164.

Poland lloti .1000.

United States dollar 1-0 pei‘ cent premium. '

NIW YGtK, Aug. B-Iorcign cxchanls steady; demand rates ‘for Great Britain high 4.90; low 4.25 5-8; clclo 4-00; Franco 0.63; Italy 0.20 1-2;' Germany 40.40; Canada 90 D42.

Closing exchange rates:-

At Montreal-Bound 4.90 i-2; trans 0-04 cents; U. B. dollar 1.00 i-l

At New York-Pound 4.90; framed}! i-I cents; Canadian dollar ca 20-82- und 74.79 fr: U. B.

fr; Canadian» dollar 10M!!- " ‘

m gold-Infidel: pm mum

BRUPN REPIIRT

Below will be found a brie: syn. W515 0! “RUFF-Phil! "Wrts received at the Head Office or the Bank or Montreal from its branches. The Branch Managers have complete 8nd intimate knowledge of each situation and are in close touch with crop conditions in all section; of the districts mentioned.

General

With the intense humidity and extreme heat which have been con- duclve to a rapid development of rust n Manitoba and Saskatchewan and with extensive areas or Alberta and Saskatchewan suffering from 180k of moisture, crops in the Prairies generally have shown [[11- ther deterioration during the pagt week. In Quebec, with weather-con. dim"! senerally favourable, crop prospects are satisfactory. Hot weather in Ontario has helped field M11118‘ to mature rapidly, and ‘M95111!!! 0f fall wheat has com- menced. Yields of from 20 to 40 bushels per acre are reported, with quality below expectations. Tllmllghout the Maritimes. con- ditions generally are satisfactory, but while recent rains have im- proved pastures, warm, dry weather would now be beneficial to crops as a. whole. In British Columbia, the continued warm weather has bene- fited was generally and the outlook is more favourable than it was a M01191’! 880- Exoept on Vancouver Island, moisture conditions are sat- isfactory. Details follow:—-

x

Prairie Provinces

Alberta: Although late, the wheat crop is generally good in the cen- tral and northern areas where moisture is sufficient. Crops in the south, while improved by recent rains, have suffered from drought and W111 b6 light. The beet crop ‘and crops on irrigated land are 1n good condition. Pastures are good in the north, but poor to fair in the south. Some districts have suf- fered extensive damage from hail. Saskatchewan: The condition or the wheat crop shows wide variation. Moisture is urgently needed over western and northern districts to erasure proper filling of heads, while rust is developing rapidly in Bollthem. eastern and central areas. Coarse grains are fairly promising and the hay crop is zoos. Manito- ba: Rust infection of extremely virulent type is more or ‘less gen- eral. and serious loss in yield and grade of bread wheats has already been sustained. Coarse grains are progressing favourably. although they also are infected to some ex- tent with rust.

Province 0f Quebec

Haying in the Eastern Townships and Ottawa Valley is nearing com- pletion; rairls huge interfered with curing but the crop generally is heavy and of good quality. Oats and barley promise an average yield. Fodder corn, though late, has made good growth and the outlook is en- couraging. Potatoes and other roots are progressing satisfactorily. as is also the tobacco crop. A below av- erage crop of apples is expected. Pusturage is good. In the lower St. Lawrence and Lake St. John dis- tricts grains give good promise. I-Iaying is well advanced with an average crop assured; pastures are in good condition. Roots are mak- ing satisfactory headway. An av- erage crop of blueberries is in sight and the raspberry crop is good

Province 0f Ontario

Barley and oats are now being cut and, while the crop is heavy. the yield will be reduced through ' lodging.’ Rains have lowered the quality of a heavy hay crop. A satisfactory pack of peas has been completed. Root crops are progres- sing satisfactorily. Corn is making excellent headway and promises well. Small fruits are plentiful and the yield or peaches is expected to be above the average. Canning- to- matoes are making rapid growth- Priming of tobacco is under way and a good crop is indicated.

Maritime Provinces

Reports from Prince Edward Is- land indicate that grains and fruits promise well but potatoes are below average. Harvesting of a. heavy hay crop is well advarlcrd. Posturage is good. Conditions generally in New Brunswick and Nova Scotia are favourable to growth, with grains progressing satisfactorily. I-iaylng has been delayed by wet weather and the yield is spotty and below average. Root crops have suf- fered from too much moisture. Ap- ples are sizing well and promise a good crop.

Prvinco 0f British Columbia

Grain is filling and gives indi- cations o1 a good average crop. the second cut. of alfa‘fn is 200d. Root crops are doing wcll. Toma- toes, cucmbers,~early pointocs and green apples are moving to mark"t in fair volume. Tree fruits are siz- ing well and the following yields are now indicated: Apples 00 per cent o1 average: pears 95 per cult: