SEPTEMBER 1s, 1934

%§’:;’ Gains

On

ngrdhll’! Special Wire) ('7' "$1.511. Sept. 17—Speculat- Mpggrest was at its lowest level l" mme time on the Montreal Exchange today when fewer 4300 shares changed hands ‘the whole session. Gains dmnfinbered losses eight to five a1- Wliigh changes were mostly of the mflrowest fractions. lflgtazllllln Traction closed 1-3 uglier at 10 3-8 after opening at 1.1 International Nickel was unchanged at 23 1-4 with the day's bging 23. Canadian Pacific was low only lnterlisted issue to suffer m?“ m the day's trading, closing ' 125.3 off 1-8; it did, however, gash 1g V3-4 in the course of the mdmg period. 5W1 of Canada. Preferred ad- "nwd a. full point to 36 1-4 and

stock

‘Outnamber Loses Montreal Exchange

wt ES TERDA Y’S S

Hollinger was also a. strong point with a gain of 80 oflits at 19.50, af- ter being traded at, 19-40 during the early part of the session. Montreal Power was 1-8 higher at 32 3-8, with the opening level at 33 1-4. Small fractions were gained by National Breweries Preferred, B. q. Power “'13”, Dominion Steel and) Coal "B" ‘and MoColl Frontenac. Quebec Power at 16 1-4 and Can- ada Northern Power at 15 were each off 1-2. Shawinlgan Power and Bruck Silk were minor frac- tions lower, , Canadian Industrial Alcohol "A" at 8 was unchanged as were Massey Harris, Power Corporation, B. C. Power "A", Hamilton Bridge, Bath- urst, Canadian Bronze and Ogllvie Flour. Sales 4.704 sharm; bonds $13,450.

Tar 0n

tBv Frederick Gardner) fated Press Flnanclnl Writer cpy Guardian's Special Wire)

‘Ngw YORK, Sept. 1'1 _-l3tocks hung around the lowest pr oes o me ‘>931- on the average today 35 the iliftrkrft SWWQ velllilly w 11181’- 51ml] strength for a ra y.d u m

m, gprly ‘burst. of liqui a on (he shan- l1st subsided as leading wmmndlties took on a more robust tone and a modest upturn in steel opernflrus indicated flint seascnal Qxpamion tendencies, although slow lnd restrained, were 011911111112 W wmg degree in business. 1

gsavmcss of the sccur ty mar- ms mcyply prolonged the tenden- cies of the preceding week. T101‘? n5 nothing in the days news to induce further liquidoion. Many uarters still seemed subject to the

Mum partly because of thelfeeble- ness of the seasonal gains .r1 bus- {pegs since Labor day and inabil- lty to see through the political mists.

U. s. Government; bonds czontinu- g1 to sac and were back near last week's low levels, with treasury 31-4.: of 1004 selling below par. Ccrporiiio bonds also were soggy.

A sharp rebound in U. S. Smelt- ing and Refininw. one of the recent mk spots of the Vsharr n1arkct, Jormcd n rnllvinrg p0 nt. ‘lhat lead- ierot the inflation group of stocks [ran up for a not gain nf 5 "points. Bu‘. wcrikncss in cquallv promin-

;i11: lssucs, notably U. S. Steel Com- -m:n 11nd Prcfcried, offset its i.n- :l:li(‘li(‘(\ upon trading sentiment.

' U. S. Steel lil0VCfl diwn through ‘it; m1 lcrcnoon selling and the _ prcfcrrcci tcuclicd a ncw low for the .ycsr at G7 1-4. Both were at the Zlcircst prices quofcd since the stock Hnarkct. rc-opcninjz tn March. 1933. filter the banking holiday suspen- Iiicn of trading.

‘ Slccl shares stiffened and their losses wcrc cut after publication of the Amcrlcnn Iron and Steel In- stitutes estimate that operations of ‘the industry had increased to 22.3 Loercent of capacity compared with 310.9 percent a. week ago.

Horcovcr, a mOve by steel makers io msiittain current, prices through the fourth quarter was expected to simulate buying by consumers who have bccn holding off in hope of lower quotations.

Allied Chemical, Consolidated Gas Pacific Lighting, U. S. Induslrial Alcohol and National Steel were among shares which sold into new low Hround for the year on declines oi fractions to about two points b:- iorc rsllyving efforts halted the foreman liquidation.

Rail nnd Utility shares on tlie l\‘l‘l‘li.'.’f‘ touched new lows for 1934. but the Standard Statistics Co. av- "llilc for 90 selected stocks was still slightly above the July 6 11min: average. It m1 six-tenths of 1 point, to 67.1 on the day. Turn- over dwindled to 047.680 shares °°mlinrcd with 835.375 Friday.

Amcricfln smelting, Mblntyre and gulilfll-lgous metals firmed be-

Session

Recorded New York Market

N. Y. Stock Exchange

hind the rally of U. S. Smelting. The upturn in the metals. CQBY-Tlfit- ing with further liquidation in U. S. Steel and other industrial shar- as. was taken as an indication that inflation ideas had not been dis- missed entirely in the financial community, although they have been played down lately.

Grains led the recovery in lead- ing staples. Wheat closed 3-4 to 1 1-4 cents a. bushel higher and com was up 1 1-2 to 1 7-8. Rye made an extreme gain o: nearly 3 cents. cotton rallied 45 to 65 cents a. bale.

The first carloading reports by western roads for last week reveal-i ed substantial gains over thg pre- ceding week, which inciuded Labor

Day. The Santa Fe reported load- ings totalling 28,145 cars against 25,373 in the preceding week and 25,321 in the like week last year.

Injuries Prove

Fatal

((1.17. By Guardian"; Special Wire)

‘PORC-NTO, Sept. l6—J0l'in E. Russell. former President of the ltscsi... L;.;:tructi0n Company and director of numerous other corpor- ations, died in hospital Saturday from injuries suffered July 23, in an explosion and fire aboard the oil barge Elizirco.

Mr. Russell was president of’ the Standard Paving nnd Material Company, Consolidated Sand and Gravel Company, Standard Paving, Limited, and Unitcd Distributors. Limited. He was also a director of Standard Paving (Mnritlmwi, Limited, and Kilmer Barbour, Lim- itcd.

Undiscou-raged By Showing In Election

SYIINEY. Australia, Sept. 16 — -Undisoouraged by the fact they rfailed to elect a single candidate in Saturday's Australian general elections, the Douglas Credit Party plans to continue its battle for the fsocial credit scheme sponsored by Major C. H. Douglas.

“The fact we registered ti. good

lpoll is encouraging," commented H. ‘V. Bondeson, leader of the party land himself a candidate. “We will lgo on fighting for our cause. I feel certain that in the next few years —in fact before the next election —we will succeed in convincing the =majority our cause is right."

VANCOUVER, Sept. l'l—(C.P.)— Flor sale among Orientals, about 23,000 pounds of octopus were tak- en commcrcially in British Colum- bia fisheries in 1933, being a small decrease from the 1932 catch.

Phone 7H.

Imperial Biscuit 00-. l-ili":

QAIIAYITITOWN. P. l. l-

150.50!

(Quohllgn- [nun-hm] -*. £51K‘! SIDEIJGHTB and Ward numbers 0f tic Initial ‘m’ Wm‘ ""11"" "ha" Jlzglitrwl mfiorfTnwAlhth oueis i.“ 117x18“: s c 11 a Standard rum and “"7 h°""'"' mum“ c“? inst m“ 5“"""° "'1 "m"! W" “a Touiliti? e a“ 1.1 o “l. l 1r 5p '1 '05 ll t1 bi r ioier if '“" m 3‘°""'°'“' Ema‘ c ‘I’ ‘hfim l“ n'°h"“""l 9"'°" 95"‘ :11? 011111.... ‘iirlicgflbeetngtthle bTTT-lltf; Fgigcazoziiplete: hxgeaient ciltgel plliiil mm" inttotnwn) of $50.00 a share. Subscriptions nrs Trade contracts that Otis has al- Bmhuru A ‘H 4 own.‘ L.‘ pnyiible, i5 percent cash with applic- ways been one of the most important Be“ Tel n8 ntiou and the balance on Jnnuniy 2nd o! the Ford steel producers and that Br“ T L Yo“ “I 101A A“. Red 97 m 1035. Applications must no maria dir- it will ba more adversely sgfclzcted B C Pow A _ 24w‘ Ame“ Chem _ 116% not tr: the‘ Minister o! ‘1111132109 on than any other Steel Lompatny dortl c Pow B n. _ 5% M“! Chalm _ 11% forms 11111 able at the smut-nus of goes ahead with biutpln; o pnosucci stuck Silk 1 m“ A" 1M m‘ the chartered banks with _a statutory an important Pa" 0 11 W“ we C“ 3m," ‘g 2g Amer ca“ ‘WA declaration that the applicant .5 ll reqiiirnments. A M M Bum! nod _ u’ _ 2L 21 A,“ For Pow 5V’ llfritlsb subject and not an employee Burrougb; ddinlgi ac na Hon can Bron" 22 n Am Loco 1",‘ o1 snly Bank. The subscription 1st threshold o best B61118 aasoii. ur- u“ “ 6 A“, 1.0“, us“ _, wll cuss on or befor-s Sept 11st. roilg-bs summer seaaonb was sum; can Am n“ n in, Couusgl, Yhat duller; tlhalnt can o‘ bucclounb t can M“ m” 39% uonmrm M a lfgrtoin i: 1:11.37: shuttling 91311511571021: C" Am Sub, 01% A KIT LETTER y u s e 3‘ ‘in: the l r can ' _ M“ T“ 1W“: NEW v0 ' novlvl ‘manta b stem: $11 e )0m"1‘bs "°.' ‘F111 511°" - . ...?“ Y‘ Y- "—~- “my .1 r r . 1.1215" .. so..." 1»- Anaconda Cop . 19% urdug’ L ll“ ‘tiara ‘hi! “mam 8-“. filo "frllle yl 1:800 t Lhsffset the gimme‘: D0!“ Sh”! C0“! B Atcliisun , 41 101/, Hf“ ‘Ifmmg f “l "'2 “"‘ “m 1° " pa“ f” 1°“ 1-,, nnd m,“ ubu (101.1 Mines Auburn not o 22 2b n eu nn pressur. appealed to sub- sump, an o o r sec In“ Make, I _ . $1: 5111s quickly. The general 111.; held returns equal to those for the first ~-

Bultl Loco . 7 0,. managed small rccqytfl»! 51x monghg, " Massey Harris .,, gzlrtnonmo Wiib the averages at critical points tlfigzni>gtiglt ‘n

m A _ 0% tibotflslhetzliét aISEIIEIiIOiImKIODAIEIY “was ia- BANON SAYS Nun mew . _ ,_ 31-11111.‘ Aviation 11% dgrelfl,“ *‘ ’ “' *" m" BIOVTREAL one gem n_,,, the n11 Fiecl m: m 0th Steel ' ‘ ‘ ‘ ‘ Power (‘or »...

p“ F5311! a" tecbulfialb vietwiiiriut this 01:31:11! élecllizle‘; thlsauanlasrtkfatlsresliiaetgigiiig Sh"? if" _n _____ 18 11% Byers A .\| -. -. 147's Kain‘ u on w e 0 “mum h“ zvaskhessyin tbs Rails suggest that Burr Add lilnch . 1114, ' | t 33 M 1 m. 1 l BANKS Co“ o“ -~. --- 175i! 17% Laldllw M"! Co‘ Llhidouisifielillligtjw gonclusivfi? hoivtsivci? - ‘ i 155 1323' Si: "ti: ‘.1111 SUMMARY (trait géicue-Ztublished until an uctunl Rffgfimfijil

sc ‘Phrosh 37 v . ' » n . Joya co a ... . CB1 C0111 --- 15% "ca-i: agltslfisg t: jifig 1151;311:311): fegihiveltiklssillflfsntpfdhhlblifmudhlad 5211:: Imp“ - ~ ~ ~ -- 103% 99m, 1'"- _1V1 Nations. utrcngbt to the market's position. 61m!“ ‘ mm "' ~ ‘ Gold bars noted in London nmr- Traders who may wish to try for a .1108 (\fhi<i . 40/; k; fig 140g 5 q ugnlngg 140; 5d sag. long overdue rally might on weak- g *9 ‘ "Nb H ' 9t! urdny. "-- ness consider buying Stairs, Ale-bison I Chpslfir 110* -- Youngstown Dian-ice Steal Qpgfgt- 11nd Johns Mrinville 111111 protect nom- (;gh“'l:' Gntrrglleé ions begin week up 2 points st 28 pep mltmenta with stops placed under the Com Sol ‘ cent o! capacity. lows of the year. . v , .\lnny textile mill owner! in the 31111011- 10“ (“T5 -- south nnd New England plan to rs- (Scumuu PM“) My" Q11 0D,,“ ma“. “m,” ma“, mmwcmr. cocxsnr. TOIlONT , Sept 17-311mm; 111111-61 Q0" ‘"11 - Sh“; nosmons ‘u 511' swurme! on were unublc to get up staeni for 1111 (orn Prod . New York (‘urb Exchange as of Aug BIONTKEAII- Q11“. Sifill 17-19 is "mun"? W115i’; 1" m" 11"‘ H" “'11s Ire] Hm‘ Iii was 14,&2 shnres against 21347 a iimnouncetl that ihc Moutrcnl Silvei 11111011’ 8111B l0 11010 1111 810111111- 5°11"- 1" I Dupp" mnnih ago, ' Exchange Inc. has lmflrivrid nu npplic- 1119111 11111195 111181‘)? 011 U10 201101111 Efgfnxilqakfrtn ' ' Pcnnn R. R, July neg lncgmg $310, ation for membership frnin Chulluna 811°" 0! "@0111"!!! 111 "141 New 101k

Eire Pow Light rlo

First Null Stores .

Frccport 'l‘r*x (lcn Asphalt (lnn Elev

(ion Fonds . (ion .\lot

tioiil Dust (lnutlitich lluh .. (lootlymir llub (lrnhziin Paige .. ., (lrcnt “Wat Siliznr ., ,, Houston till ,,

lludson lilot

Uitl-rvtts .\i_vcrs B. Llqultl (‘urh .. Lncws Incurp Stuck Truck

Muili Alknli _ Miss Knn

Nfiil Bis . . . . . . Nnil Dniry Prod Natl Pow Light New Ilnvcn .. . . New York Ceu .. North Amer ... .

EXCHANGE

(Canadian Pram) MONTREAL, Sept 17-Brlilsh Ind foreign exchange in rclntton to the (‘nnnrilnn dollar as compiled by the

Roynl Bank oi.’ Canada, closed today

no follows :—- Argentina papo .2800. Auatrnllyi iiountl 3 8072, Australia pound 3.81172. Auutrln schllliniz ISM. Iirnzll milrels .0089. liulyrurlti luv .0120. (‘b11111 lloug Kong dollars Czechoslovakia ClOWn .0400. Denmark krone 2174. France franc .0045. Gorinnny rciohsmark .3125. Grunt Britain pound 4.8012. Greece drncbma 0003. llollnnd florln fllfiO. Hungary pcngo fi. lntlin rupee .3087. Jnpsn yon .2011 Jugoslnvin rlinar .0236, New Zcnlnmi pound 3&7. South Africa pound 4.12116. United States dollar 2 31-3‘! lie! cent

discount,

PRODUCE

Illa-shun was qugghngni-tttfnsuy highar and butler declined frnctinnliy in price on the Montreal produce and dairy market

352B.

tod- agnin quoted at 6 48 cents. Onytiirio colored (sinus Noni-lie 10 to 101,‘ cents Hponnd‘ 5f cont I116; ’ than inst, n-eeka clos n: glen an o Quebec r11 f“ advance g Qull’!!! Amqflflfl, bang quoted o! it 715a _______ “m; g 11.111116. Arrivals were (John-um . w...) ""53... no 1 bum:- mod cont a sues- Opened I401 plum’. {.“.";“.’l§'..°‘£§i§iZ“.. Sig: 12w? Abitibi . 11o 11o u ,- . |one-l...:;:.":=..'rsll."::.asst: lswszzi‘... . “* .1“ "'<=1->""*~...:“i:i':.*:.‘"::.3.t' "first. 5.11.2?" °“ If D1‘ ' "' c" '.":.-..'".°::':: éi.’.‘2"..".’.2'-‘l.°. 32:. ":2 o ' ' n“ 1' s1" c" 1:1: swarm" ti. m 7° “M M Am .“";t.2"'s an Imp Tob ' 1011,. "m "m" M‘ n M11‘ totalled 1- n1 Pet w '1” °,',,“,,°', °' c‘ ma” ' llaichan A" "' L" 11 e v . .. "",‘,',,.°.".."";.°..2°1‘."°a‘>‘s"s7>‘£ti‘.. ‘.23; ¥Z."i""§..' " .1111” cbnn '

{sinful "I " Steel market is brighter

§‘A‘.‘...T”‘.\r.;.' L. "l rH-I- L" L-"lr M“ Cm, South so ma 813s soso e134 .51 Kolvinntor

yo“ t. U IIIigh Low Lnlt 0ft ,‘“.,,,,b,,,","',’fif _ - 20 11.1111 . .1..4o as 0:1 as 42 .o1

Nam, l.“ with to 5 routs bigbor tbun prices rim-k Mo; ' inst wcck. ’l‘rnrllng was somewhat 1'9"“ Rm] " adversely nffectcti by trouble over 11"]; gm- N the slaughtering o! cattle for tho pmmps I.“ kosher irnile. bieers were locking iu punmnn Cn ' top quality. Good steers generally “mun p0", " ' ,3 7 brought. $4.50 with $5 hid and refused 111.110 he“) 6' h"' ,‘ 4/11 for one loml of Ontario cattle. Med- 11;‘, 1m“ gwvgp ' ' 2%‘ 2 iuui good steers sold nrouurl 34.2.5 snmwuy sun,“ ‘ with the hulk of the medium steers gm,“ Rnohucp " between $3.25 anti $75.75 nnd common Sqcony y“ "' steers mostly $2.510 and $275. One mmmmm (.0 baby beef was ivoigheq at 8i. Good gnu“, qlmf "' cows were from $2.75 to $3_ with gnu“, "n" medium cows between $2 and $2.50 gland Brand!" nnd common butchers down to $1.75. “and H" Eké" llnnnors nnd cutters were steady at gun"! n“ PM ' $1 to $1 50 nnd bulls at $1.50 to $2 50 5mm] on - T" “y; with the hulk of the sales lit $1.75. Stem," “infer ‘"1 Steers up to 1,050 lhs, good and snmcbflkpr 55 choice $4 28 to $5; medium, $3.5 to Thermal“ g 33.75; common $2.00 to $2.75; steers Tens c0 ' m‘ over 1,050 lbs, good anll cboico $4.26 To“! Gm‘ ‘ 83/1 i0 $5; medium $3.15 to $3.75; com- TH}, "n" B " *1 mon $2 60 to $3; heifer; good and PM," ,.,_,,,“‘(."n,.'h' ' f‘- choice, 5s so; medium $2.15 to $3.25; l-mo" 0mm Curb ' ' 30V‘ common $100 to $2.60; fed cnlvcs, Yum" PM. ‘ 64% good and choice $0; medium 84.00; "mm" Mr‘ 12, cows, good $2 75 to $3; medium $2 to ‘mum vnrrf- u"? $2 ; common $1.75 to $2; canners "mud d“ 157/; géitlwcuctggafifil ‘tlomfltgflkz bulls. Rood U h Ind M ‘r- 33 Calf receipts were 1021 head There n s “nmwr 14% were only 16°1 cnlveh u compared g g Egan 112-?’- with 2.41m 1m Monday. T011611"! trod- vnn étoel 141/ in: was estimated to he sicniiy on “vomflynraé-Ca“ 4 '-' grnsscru, courmon and inodiuni qual- ‘vnnon Bu“ M’, iiy rnlvos. to Z5 cents higher on good ‘van Unlm“ ‘ 11 gglggsi Gsraoilfi cnliirtia were gutted ‘at ” , .' o .‘ , w most o t a sues “Yasshvlrglretch '60 between $5.50 and w, Medium qual- wm-nt Pump . 1.11.1, 1.153 1§{h°“1,"§‘mb"°,‘,'“§{ ‘if? ‘f, :1‘:- renbw Trim Conch av, a ° °" K “ ' “" "‘ '

THE CHARLOTTETOWN

TOCK and BOND QUOTATIONS‘?

MARKET

FINANCIAL COUNSEL

400 after charges ngainst $3,423,347 in July 1033. 7 months net equal to R3 I"‘filfl a shure against 4'18 cents in first seven months of 1033.

Aichlson loadings (luring week shoivml n seasonally rising tendency null indications are that for week re- vcnuc cur-s hnndlcrl were about 281100 curs ngninst 25,375 in previous week.

Blngnzlno Steel snya with s 2% point rise 111 Steel works operations in 2on1, pt-rccni: List week, indications of subshuliiiil purchasing by nutn- makers within 2 or Ii Wmka nnd more public works construction projects maturing sentiment in ibe lrou and

GUARDIAN

GOSSIP

— (By Jabnlton and Ward‘! Special N Util .. . 18.81 18.08 18.75 .00 Wire) 40 Bonds ... 90 b4

. .11 Dow Jones.

.\febetn_ Bombay, lmllu. fnrclgn mem- berships now include nne from Ilom- bny, 5 from Shanghai. ‘.1 from Paris. 1 from llrnzll nnd 11) from New York. ln addition 10 scnts have been nllot- ted iu Toronto, Doclurnlinn of tlm regiilnr thlr-(l quarter diviricnd of 31 cents per snare by Mnnircnl Light llent nnd Power cons payable Oct 31 to stock record Sept 30, definitely sets at rest nny expectation ihnt hurl been held nf n small increase in the rnte of pnynient being llccitlctl at this time. The company has recently in- nugimitcd a new rate schedule for its customers and in vimv of this nntl

civlzgocx

(Canadian Pres!) ZiIONTREAL. Sept IP-Oltel-iflil! 011 the two .\iontreul livestock market: today tntnlicnl 10,543 houd. Cattle rc- celpls were 1,430 head. Cattle were moving to the scales at prices stelilly

ers from $3 to $376. Grnsc calves rnngcd from $2 to $2.76 with tho bulk of the snles between $2 25 nnd $2.50.

Good nnd choice veal $5.25 to $0.211;

common nnd medium 83 to $4.75; grnsst-rs $2 to $2.75. hoop receipts were 4,184 head.

laimbs made a gain of 26 cents. Good owes and ivethcrs were sold for $5 75 with lnmba wetglving 00 lbs or over nt $4.75. Buck lambs were $4.76 and cull lsmlu $3.75. Sheep ranged from‘ $1.50 to $8, with nn- bulk of the sales between $2 and $2 60.

Ewes 81 50 to $3: lninbn, good, $.75 common $3.75 to $4.75.

Hog receipts were 3,302 head. Hog iinlcs were very slnw and prlcr-s low- cr. Some 1,500 hogs were dellvcrcrl on former contract at $0 for barons fell nnd watered. Selects ilrcw $1 pcr 110g prcmluiu. Heavies nnd lmtcbern wcrc' l8 5t). Slows wom- fmm $0 to $7 As- ido from the Above lean than 100 hogs were sold enriy.

Currencies

Canadian Pro") NEW ORK Sept 11—Nnrow changes only wens recorded in th foreign exchange mnrkwlil today.

The fiamdian dollar. after fiuotuat. iiig between 8 nntl 2H5 percent Pfellb‘ lum, closed unchanged at Ii 1-16. Star-- ling finished the (lay l little lower at $5 01, off u. of a cont. while tho French franc, closing at 6,67 cents,‘ showed again of .0054 of a cent. MONTH Ab, Sept 17—-The pound and (be United Staten dnllnr declined while the French franc remained study on Montreal currency exchang- el today. Bterlinf lost 0-212 of a ant at 4.8614. The lnltod States dollar and 1-32 of one percent at 2 31-92 percent discount and the franc was

impending political factors directors

Mt’l. Stock Exchange

Oil in in ins

Point level

closed A bout

gained

floatation: fumlnhud b7

market nnd to this somewhat lucnrlsb influence was added the nervousness inspired by the failure of Tack Ilugb-

puriroti Silvers nntl huse metals ut-re sloiv. Teck Hughes

the price cnme buck to 4.85 where it

The other big golds harbored strength

v

Iollolol

lolly. Losses were lighter than t week's session and they 11p- cblvfly in the gold group. its lnw which nmi

again hit for tbo year nt 4 116 at suipport ivns forthcoming