93¢

Till‘. ‘c_1_1_1_\1z1.o1"r1-:'r01v1v cuanmnu

K AND BOND QUO”

1-»

2-1 f

ii Closing Stock Letter .. By LAIDLAW s1 c0. ~ ‘Special to Johnston & Word

l £32-25>2%i-2%RZKEREZEZ~Z§HEJ ' BY rnnm own rsnva-rn wuss

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¢=.92%biild§liili%lii‘fiifliillifliii%fi

YEW YORK, Ant. 12—!pecuiati\'e pessimism held iull sway todey and on 1

| fairly "gfarioi-hhtfl" 1s n

towns were under , m mommy statistics anon

i; the sltua 111111 1W" “' flgiifl’ end rruilnna I iessionnl marl?"-

traders were sealsln

brisk turnover active Issues showed substantial to capitalise drought damage end was sel- iai attention issues which might be particularly aiieetod later on.

weakness. It was

oi the that the

be published would show absolutely no improvement tion. The [ranger roads. snail order stocks and other merchand- pre sold one liter another and In the aiternoon the steels turned -

w“; "m"; probably being based upon statement that rate oi op- howed no chanle irons last work. The market was still largely pro- but at the eelna time there vral little or no evidence oi concentrate-i C-fl money was 2V. pm. all day. Total sales 1,082,660.

- 1 - 1o MONTREAL s-rocx nxcssanon sogggmsmtvare-a“ l‘ m n1 .\'1~111 .21,'21a1.121 '21 ""§f,',§i.'° J°h'i)':»:i.'11:11iiii§iii-11.111 “in 1.“ ‘of wmius ..1 “i. I 3W "T11 141111111 so 1101/, 1o 1n] isnn 11111111 . A1213 21! 115111 1'1} “MUM 1 2m, 1::1».\1o1111 Pow mac so :55 1-23, =1“; 11111.1. ~ " ‘ r1111“ .1 ... 1.... 1. 1.11 4n -~ . - salon r11 .. u“ ‘J u go“ spfr1p1-n... 1| l] 1'23.“ 9rf",_'_"‘l::§ $1,‘, 1 4 1112101" Power 1 i I 53 " ' _ nssh ~11 .. M" M11114 :04 -“"“""““"" ‘ " iZZ“ 3:111 Ste“; 21:19.11 .1 421;‘ 4a '1 i214 .12".- '~‘“““" p” ' " 1 1 ‘lfifilrnons. 1=1 .1 1 1 1m "m" i'°§";' " 1g 111111 1105 sn111v111 an» . 1 1 1 11111 M)” P 1-,, 1111,41 2111A. 241111 21114 2111111111 cu l 13 ‘RC C a y '0 I 14 Zfifiglvv’: 39" ‘m’ if“; " " 1 m irsirexziia . 1111 1&5 11-1. exit; f: 14w, 111s c111 Pow i a! 5-ii1§"§1§.i.i1.i‘ s I ‘lg-z B5For P Sec . .. O ' e uonryden __ 1 a naaxs m 1 1" 11:“ §1iz11ri<1 -...:1 i». 110cm, c Co ..12o i212 zsv, 25% s11" 25.244. C!!!“ B? u" wmflwuu- ::Your Home Medicine Chest-

.110 wssdoingaboistflfl l-ndi-ht m b931,; to sway with the excessive mm, "sorry. old man," he said to m, very‘ nervous pusenser. ‘iv-at when we borin lb M W111! 1'" I°"' m swp. The entiflc is 7111508 9°?"- thirig dreadfully.”

'1; it?" muttered the mall. ill!"- nrstonzed to cars.

"70s: why. can't W" he" $11” ma"

That's my teeth cluttering." mur- mured the unhappy passenger.- Pearson's Weekly.

Among the standard household rem- edies that should always be on hand in your home medicine chest, none is more important than ur. Thomas’ Eclectric Oil. Its meniiold useiuiness in relieving pain and healing sick- ness is known by many thousands throughout the land. Always use Dr. Thomas‘ Eclectric Oil ior relieving rheumatic and sciatic pains, treating sore throat and chests, coughs, scalds, cuts, bruises and sprains.

Ilsa llinardfi Linirnent ior foot nilnsentl.

insurance.

Write Ill today.

HEAD OFFIGII

A Bond That Combines “Two Policies, In One

The Dominion Liie 1 otection Investment Bond eons- binee all the advantages oi both liie and endowment n 1-1", you iull protection during your active liietime, provides a monthly 111W!" m‘ ' ‘uh 111111 11¢ the age of so. s5. 60 or 65 rura- or- in u" event oi your death beiore the Bond matures, till!‘ antees payment to your beneficiary or estate oi $1000 FOB. EVERY BOND 0F $1000.

Here in this Protection investment Bond you have every attractive ieature oi Liie Insurance combined in a single and economical policy. The Bond can ill-l’- tioipate in profits ii you so desire. We will 8W”! send you iull information about this splendid policy-

gpnolvilulou LIFE

ASSURANCE COMPANY

waraaeoo. ONYA

OUR CHARLOTTETOWN OFFICE: Bank oi Nova Scoila Building

J. A. MocKENZIE, Manager

RIO

MllRNilibi

MONTREAL. Que. Aus- 12.—-Ver11" iew changes of note were in evidence on the local market yesterday with the leading stocks closing unchanged ‘ or iroctionaily higher. i

Quite a. iew interests are looking; for a rally in the near future. How- 1 ever, conservatives are warning fol-, lowers against buying stocks ior such i a development. They still recommend 1 taking advantage of any recovery to1 reduce long committments so thatI marginal accounts will be in a posi- tion to withstand further bear drives. Those on the side lines are being ad- vised to maintain their position out of the market until there is some- thing definie to indicate that a de- cided change for the better has come.

The business week says that the heat wave is exerting a strong lnflu- ' once‘ on the business weather. 'I‘he~ drought with the consequent increas- es in (arm commodity prices may yet turn the wholesale commodity price level upward and stimulate advance buying. The iarm board has been saved irom the task oi supporting the wheat market or disposing oi the sur- plus by the situation in the corn belt. The rapid rise in agricultural priccs may somewhat compensate ior shrunken crops and leave tar-m pur- chasing power not too badly hit.

The Canadian Westinghouse has closed e. contract with the Algoma Steel Corporation at Sault Ste. Marie ior a reversing type adjustable speed mill motor and a ily wheel motor gen- erator set, excitor motor generator set and a complete ventilating equip- 1 merit also circulating oiling system. The contract included as v/ell L11.» necessary control and switching equipment amounting in all to about $250,000. -

Wall St. Mirror Says—-The market will be forced to undergo another‘ thorough test oi its position today due in the main to the report on the crop situation made public by govern- ment sources aiter the close of busi- ness on Monday. To many readers of- the figures the situation is pre- sented in a very pessimistic vein. The , iact that the damage is daily extend- .ing to other than cereal crops and also is taking in n wider area of the iar- ming community will come to many as a. surprise. The iact that all sorts oi commodities are now affected 1 whereas first reports had only the corn crop the major suflerer will withhold buyers from the merchan- dising fields. The stock market should be allowed to tell its own story today. The atmosphere in the finan- cial district has taken on a ciistlnciy pemimistic color. There is very lit- tle disposition on the part of specu- lators to take the long side on the market and is not ‘lzkely be until the iull extent ci the destruction of crops 1 and their iar reaching position is i iully made known. The technical,

i

‘rally which got underway in the stock market cn Monday has ever right to go ahead iurther but this iraily undoubtedly will be delayed by ithe news from Washington. ' ‘Those who had previously taken a 1 position on the long side of the mar- l ket are now disposed to step aside and‘ 1wait for the situation to clear. There iwlll be plenty oi time to take ad- vantage oi the technical position oi ‘the market when the outside situa- tion has been cleared.

NEW YORK. Aug. 12.—Some fur-i ther pressure was exerted yesterday‘ morning in an attempt to break thei market from the dullness on the down i side. Little success was met however so that a rally developed largely on short covering. The utilities contin- ued to be sold. There was little in the action of the market yesterdayi cn which to base an opinion on the1 short term outlook for the market. Twice since the first of the year the market has broken out oi o. period oi dullness on the down side which is typical action in a bear market. On the whole we would be inclined to‘ stay on the side lines keeping in mind the remarks made in yesterday's let- ' ts: regarding the outlook ior inter in the year.

Laidlaw 1S: Co.

Summary

Paramount Publix Corporation de- clares regular quarteriy dividend oi 8i

Canadian Pacific Railway declares 1 regular quarterly dividend oi $2.50 on '

and other treatments.

Bruce Stewart

F0; Ranchers Attention

Now is the time for cleaning your foxes

Use The Beer Animal Holder

for Powdering, Pilling, Brushing, ‘Combing, Earsnitlng

Nothing like this Holder for holding foxes secure- ly in any position without injury to the lnllfllll-

PRICE $35.00 NOW REDUCED TO $20.00 LESS 5% FOR CASH WITH ORDER

only a limited number available, order li- vfl" ""1 secure yours before they are all sold. For sale by

CHARLOTTETOWN. P. E. ISLAND

81 0o. Limited

Daily average production of crude oil in U. s. week ended August 9 tot- alled 2,478,250 barrels decrease oi 20.104 barrels.

Ford Motor 00.. world production in July was 133.035 cars and truck: against 174.528 in June and 106.505 in July 1920. Production in U. s 116.805 units against 180,804 in July 1029.

Federal Reserve boards condition statement on August 6 shows decrease ‘for week oi 873,000,000 in loans and

11111111 111111174‘-

investments. 8134000000 in net de- mand deposits and $44,000,000 in gov- eminent deposits. i

N. Y. Central B. R. including leas- i ed lines, in second quarter cam 1| $2.93 a share on 4.902.596 shares age-inst 84.54 a share on 4.635.592} shares in second quarter i028. ForI six months $4.63 a share against $7.77 a share.

80 industrisls, high, 2.26.05; low. 220.09; last. 224.13; up. 1.54.

20 rails, high. 126.70; low, l26.83;1 last 126.26 up 0.86. D. J.

i

o i

Forecasts and Factors-A profes- i

sionai trading market is probable to-

day without much progress being made in either direction.

Sutton 1h Co-We certainly think

this is rather a late date to get bear-

, 1.3.0

(Canadian Press)

LIVESTOCK

MONTREAL, Aug. l2.—There were 42 cattle, 29G calves, 59B hogs and 919 sileep and lambs ior sale on the two Montreal live stock markers to- day. The cattle offered were‘ mostly common bulls and brought $2 to $3. Calves were about steady at $8 to $9.50 ior medium to good. Veal grass calves were 561a m1- ss m $5.50. One

$8.25 late yesterday. Good ewes and vvethers were sold ior $8 to $8.50. Today's trade vras slow. add sale: were made at $8 to $8.25 for good eaves and wethers. Buck lambs were cut $2 per cwt. Sheep were mostly s1 1111111 a few picked out at s5. Hogs were unsettled. Buyers were bidding $12 ior b-acoxs.

azcfixaa-zgx

EGG RECEIPTS

OTTAWA, Ont., Aug. 12-11 steady icandition is again apparent on Can- iadian egg markets today. Receipts iare declining. Extras are inclined to

rvork to higher price levels. l TORONTO, out, Aug. l2—The egg market here is steady today, with ‘prices unchanged. Receipts continue to show a slight decrease and this ,is leading to the belie! that s iirmer

[small lot of mixed calves brought 'tane will develop shortly.

MONTREAL, Que, AUB- l2—-E8E ircceipts on this» market yesterday izvere 2,979 cases as comparedtn l,- ‘531 cases on the corresponding day 115st year. The market is firm‘ end ‘active, less car lot shipments are ‘clearing well and top grades are working higher. Chicago spot 24 to i24 1-2, November, 28 3-8.

trying to determine what to buy when to buy and how much to buy.

Hornblower s; Weeks-The price of leading issues have been reduced to the accumulation levels that obtained in the last ten days oi June and the first week oi July when the buying proved so considerably better than the selling. Therefore we recommend holding all leading issues and adding to investment holdings.

NEW YORK, Aug. ll-Wall Street Advisory says-The list is showing on earnest desire to turn upward but

‘ whether this merely represents an in

bctween rally from a. temporarily

‘ oversold condition or whether stocks

have finallyentcred a definite zone of resistance to further selling it is still too early to say.

Rather than re-ener the market prematurely however, we feel that the prudent thing to do would be to allow the list another day in which to more convincingly demonstrate that the current resistance levels will hold.

The crop damage situation is nat- urally uppermost in the minds of the financial community. There is no gainsayira; the fact that it is respon- sible for much of the present uncer- tainty businesswise and marketwise.

One striking indication of possible sharp curtailment in farmer buying power has already been reflected in yesterdays new low ior Sears Roe- buck.

Wc would prefer to await somewhat clearer market atmosphere before sug- gesting ‘definite committments.

NEW YORK. Aug. 12.—Yesterday's market gave evidence of an oversold condition by resisting heaviness in some of the utilities and the wheat market; and then going through a iair sized rally. This improvement, a per- fectly logical consequence of last week's acute Weakness has no special bullish significance as yet. Buying power comes mainly from the short interest and after two or three days oi this sort oi improvement we will in all probability witness another at- tempt to unsettle the market.

The government crop report docs not bring out anything about the corn situation not already known. While the general public may find it unpleasant reading we do not think this will have an important effect on stocks. As a. matter oi fact the actual situation in corn is now understood to be considerably worse than the rc- port indicates.

No new evidence has been brought t0 light Whivh might show that the reaction has been completed. The av- Bragfis are now situated about two points below the bottom of their rc- wit trading range and about five Points above the June low which happens to approximate the low oi last November.

Recoveries will probably be check- erl short of the first level and de- clines above the second. Somewhere between these two points the next turning point should occur but this rlccs not seem to be a possibility ior the near future. For the time reac- tions are likely to be more important than recovorles.

The bearish element is still in pos- session oi the oiiensive and until it

‘ meets with a definite failure we would

be cautious about buying stocks. Livingston and Company

Grain Liverpool opened unchanged to 1-4 lower; 12:15 p. m. unchanged to 1-8 higher.

TENDLEB

E The Administrator of

the fixtures in the store o

1-.»

ran

h. E E asked io put in his lender i

' Exhibition Week.

Robblee intends selling the entire stock-in-trade and

tenders are called immediately for same. Tenders will be opened on Wednesday afternoon, August 13th at the olfice oi‘ the Estate Solicitors. Anyone wishing to purchase these up to date fixtures and merchandise is

excellent opportunity to edispose of stock during

The highest or any tender not necessarily accepted. FRANK ROBBLEE-Administrator

STEWART & LOWTHER-Solictors. 84 Great George Street

iDOMINION OF

i

“ CANADA BONDS

l (Fpcclai to Johnston l gtlrdlAsked Wnr Loan War Loan .. Victory Loan

i i 8

Fnrrl nt England Fz-rrn Enameliing . iiirnm Wnlker .. Humble Oil

The Montreal A Curb Market

NEW YORK. Aug. 12.--Gossip has been heard at times in the past that I Nickel may have accumulated a. large Istock of metals in recent months. Advices from Canada state that the company has no surplus oi copper ,ar1d all the red metal it can produce j until middle oi August has been sold. lthe supply oi nickel on hand is said its be equal to but six weeks con- sumption st the rate nickel was used ' last year.

Dow Jones.

. s F011 MEWS HABERDASIIERY

the Estate of the late J. W.

n Great George Street and

at once as there will be an

child that has been undermined h“

iNEW YORK rket News i

§:-:§:-:§:-c=:-:§:-:§:-:

i '-.__

1 EXCHANGE

(Special tn Jnhnninn I: “Emil _ H , i)|1enii1g!1i.1\\v i.1~i .\i‘ - . H‘:

Air Reduc Alla Corp .\l Chem . .. .»\l-t"l1ni .. .. Arlnn Rciin . Am Fun .. . .-\1u & l‘ P .. Am Loco Am . Am Am Ann (‘op Arcbisnn Auh

,11\11 ‘in; 1|>'.1,,ll>'

llU

ill. _- 6i". ‘

111*

Auto Loco

. 21111,, an .. Til TD lg: .. In4‘1D“ C D G Ale .. 1 (‘an Pacific .152?) Li’! 1T0 Cnn-Nnirn , . . (‘hrys .\io . 2711; (‘oi-o Cola Tl (‘oi Ca1- .. .. (‘n1 G d- El F011! Gas (‘out (‘an Pro 1'-\\'righi . . E l liupuni El l’ k Lt. .. Free Tex Gen As .. .. Gen Elec . ..

20

'27‘; _

1T1

.1;1i_vr Ituh .. lit-us Oll .. liurl Mn .. . ilupp lio lull Iinr . ' in Nickle lutl Tale .

uinmlb iii-um»:

5 1 1 " Usnuda lmtwr

Forr-iiu I'~\1‘r\r or i-‘r vr 1111111141" iiorzcrnl >1~-.-1 \\.

Winnipng‘

Arnaricnn (‘n11

iutl. Petroleum .. . . 2.01, 291', -

Niagara Hudson L A: P .. 15% . i Gris imp

Xnrnnda .. 22% 22V, I <1 Aico 63 I13 PsrnmounLCah .. 4 414 I Q 1211b 21x11:

Standard Oll oi Indians . 4i’! 40!’, i‘ < Steel 17.0 r Mnnrlnrrl Oil 0i Kentucky 3i 311g Van Stool , Standard Oil o! Nebraska . 47 4R w." 3,-1.5 c,» _

Vniteri I1 &‘P 3015 37% , \\'1=.=r Elec i , Vacuum Oil .. F0111 S1\,g1\vn~1 Fn ,

iii-i w P111111. 1 ,111.., _,1 lvrs .~_1..1-. :1\.-',

FALL PLOUGHING

(Experimental Farms Note) Fail ploughing is generally consul-

i

_- ered a good practice in mos: parts oi 11 (Special to Jvhnaton B Word) k d the country. if best results are to be ‘m, '3'“, __ “Bid A5111‘; obtained. In a section such cs1} Bcnuhnrnqis - -- »- -- "'6 m1 Northern Ontario where the. grouung - E§§{,‘,*n*},;‘“‘°" n 9n_'1‘_'_‘_ 16 l?’ season is comparatively short it is , 15m- PredsP is n"? -- 3" hot only advisable, but it is impern- y . (‘nnndlnn Malling .. .. l‘! 1i"; , , r b ‘ .~,n_ vmm, ,, e1, tive that the greater part o i.e 1111-1111;" Breu- . . . . .. ploughing be done in the summer P": \- Brewerr 00 ., 11,111 riioerp-Songrems . l0 or fail. ri_""",‘ 5",?’ Pfrk! m At the Dominion Experimental

..1s crn n r es _ 1 11.11111- 011 .. Station, Kapuskasing, Ontario, 11 has ‘ - S" ' ' ifll/ been found that midsummer" or early

. . . . .. 4 4 , inlhnrlnl Tobacco , fall ploughing has materially iamb- inli Poiroieirm - 4 -.'. ..1... _ ‘ h", Hum” ..A.. sited the completion of 1.11s “..1. be i 111:1 1211111“ "n" . 13% fore the ground became too wet c1 111k’ .upv-rinr’ (‘nrp l0 _ 1 11111-11111. gnhort In 11:14 2o “as "We". h h 1 liolurrol -Xl1\h""n ~ 7 Ex eriments have s ownt at prac- 1 Dmme" 11% - 1111113 all the common farm crop: 1 [pi-find Kéiitiilngc Mills g W should be sown as early in the spruv;

e nnrc rnn o . . . ‘ inn-m; 1,701.10“ “£95 as the condition oi the 501i Will per- Ssrna S _ - - 1 Tflk Hugh" Mo mit and this 1s only posslbie when Walker. Hiram s1,’ s-v, the land has been ploughed the pre-

vious iali, and better still if it has been ploughed sufficicntiv early to disk a couple oi times 11nd also open up proper water furrows beiore the freeze-up.

ploughing can not be done during the summer and early {all on account

nevertheless, a start should be mm}: as early as possible. Night pnsiurzv and old meadows particularly well to early plouqlrvg. This not only assists materially 11: getting the ploughing completed. bui it makes possible the cultivation oi ing and thereby partly takes the place oi summer-iallosving. gives an opportunity oi keeping

the next season's crop.

Dominion Experimental Station.‘ ' Kapuskssing. Ont. 1 ::No better protection agant