arall; 25,1959‘ _ Sleep for Mother

p‘

Savesjime-liecause it's ready-baked- Warm in oveii and serve with hot milk ~ Healthful lil’0l¢tll0ll for the whole family

Made 1U The Canadian Shredded Wheat Company. Ltd,

i

Livestock Market

(Canadian Press)

MONTREAL, April 24—There were 115 cattle, 185 valves, 426 hogs and zhree sheep and lambs for sale on file two markets. The cattle market was steady to strong. Two loads of good steers held over from yester- lay and averaging around 1,200 sounds were weighed up at $11. Common to medium cows brought from $5.50 to $8 and bulls from $0.50 5o $8.25, calves were in good demand

T

and were sold for $8.50 to $9.50. The 5119911 market was unchanged. A few small lots of mixed hogs brought $13.25 to $13.50, the balance of the hogs were sold for $12.50 f.o. b. Sows were from $10.50 to $11.25.

"What. l5 the national alt of this Country?" asked a. foreigner of an acquaintance.

"Mighty cold, as a rule."

"For my success in life I reckon I oivd everthing to my wife,"

"Ym" memory is all wrong. You owe a fiver to mo!"

F. A. Stewart Jones

Investment Securities

P. O. Box 264 Phone 291 L A Charlottetown

m

A Bargain in Income

-'.l‘he present yields obtainable on high-grade investment securities are higher than at any period since 1926. Canadian borrower: are therefore refraining from issuing long term loaru in expectation that bond prices will strengthen materially in the near future.

1n view of‘ this favorable position of the investment market, many experienced in- vestors, both corporate and individual, are quietly taking advantage of this current op- portunity to buy future incomes at a bargain.

ljiill

We will be glad to make suggestions.

Eastern Securities Company Ltd. INVESTDIENT BANKERS r Charlottetown

Sh. John lllflllllfll

Your Car to Old Age

I ERHAPS yolthcar ha: been "broken in" -_.and pgrhaps you bought it second hgnd-Jn either case its lubrication deserve! the seine attention sis: fltlimt Old aim; san mfziir ttlliifaame lillliricatioii as when g it registered half that dismmuw "an," rump rlvi»: w"! W’ "f . seriitccli: just nligelglhgrrge".b'“jefv'lflf§ ear y o age. _ W"! t. cheaper by far than lrrcgulfll‘ “will! “Ni” our car glow oldinoiie season-

i iiorilitiiii iiabit of having the mm i" W"

transmission changed every

Of Relief.

(By James

Wall 5t, New York, Thursday, Ap- rll 18, link-Partly influenced by the high cost, and relatively narrow sup- ply, of money and partly, it. would seem, by uncertainty and doubt as to immediate pl ‘ growing out of the new session of Congress, the in- vestment community has‘ pretty gen- erally agreed upon the advisability of a resting period. There has been no- thing in the business outlookto indi- cate a change of conditions in any di-l rectlon except that of improvement. Indeed, business leaders who have been hesitant ln forecasting anything beyond mid-year, are now, in not a. few cases, expressing themselves pos- itively to the effect that s. continu- ance of good trade during the latter pm or laza is to be fully“ expected. Financially, the state of things re- flects the c- nsequences of slow, con- servative liquidation. with growing strength in the banking position.

The Assembling oi.’ Congress

The meeting of a. new congress ls always the signal for a careful ap- praisal of Washington conditions in their relation to the market, and the present is no exception to the rule. President Hoover's message to the special session has been very gener- ally praised for its conservatism and moderation, both as regards the farm relief problem and proposed changes in tariff duties. The other subjects which he mentions as permlssable for action at this time are both topics of

have beep dealt with before now, and the attempt of the Executive to lim- it discussion in this way is very gen- erally regarded as the part of wis- dom, although naturallythe finan- cial community would be pleased if there could be some action of a con- structive sort on railroad consolida- tion. That, however, seems to be out of the question, and the busi- liess interests of the country will be content if a program can be carried through along the lines indicated in tile message. Still there ls doubt in ‘ many quarters as to how far the conflicting groups at. Washington will permit limitation of this sort to be

The Financial Situation " Political and Financial Conditions Bring Period

those of a. year ago:

' news services, the rate-raising party

emergency character, which ought tn 4

B. Oiews.)

tel-T of laza considerably exceeding

Credit Status Little Changed

Although the intense interest. lathe credit situation has been temporarily relaxed, the fasts ln the case show very little real alteration. Reduc- tions in brokers’ loans "have been ‘ substantial in and of themselves. but are of course a small fraction oi the total outstanding, and if rumors indicating a. desire on the part of banking authorities for a cut. ap- proaching $500,000,000 during the next few months should prove well found- ' ed, the withdrawal of » that amount of credit, even though gradual, would neigssarily keep market operations uponn moderate basis with s. con- tinued tendency to conservative liq- ulddtlon. According to Washington

in the Federal Reserve System has little chance of making its proposals, immediately effective, and has lost ground of late. Granting that this view of the situation is correct, the real question now is how far the general. banking community will deem it worth while to conform to "the policy of credit. limitation and restriction both through discourag- ing would-be borrowersfiand through

the maintenance of the fairly high and stable rate which is now in ef- fect.- Until more authentic informa- tion can be obtained with respect to tlic policies ‘of the Reserve System, ,ulicertainty will naturally continue.

Bonds and Foreign Relations

The question whether Congress may iindei-take some investigation oi the credit position, has been re- peatedly raised, but apparentlywith- out any result thus far. [that millt-ates against such action is ‘undoubtedly the unfavorable effect likely to be produced by an inquiry of the sort. upon our foreign relation- ships. The export figures made pub- llc during the past week, showed $480,000,000 merchandise shipments during March, with the ‘result of a trade balance of $103,000,000. On

enforced, and there will naturally be a tendency to the observance of caution until such time as there is more definite information on this point.

_ Excellent: Industrial Outlook.

These apparently favorable legisla- tive prospects are backed by an ex- cellent industrlal-situdion, The an- nual meeting of shareholders of the United States Steel Corporation, which ratified the new financing plans, as already given to the public, was informed of the unusual pros- perity slid activity of the concern. with an occupied capacity estimated at the unusual figure of over 88 per cent. The subsequelit offer of new stock subscription rights, to share- holders, although not as generous as had been expected, nevertheless bears

~ ‘ample testimony to the prosperity oi‘

the concern, which ls thus able to place its issue with Old holders at a. value of $140 per share. The indica- tions 52‘ general prosperity, mot merely on the part of United States Steel, but throughout the steel in- dustry, are unmistakable, and this prosperity gxtends into allied indus- tries as illustrated by u». confident forecast of the president of the Am- erican Locomotive Company, who has just assured the stockholders of that. enterprise, of "a. cycle of two or three years 0f good business", with excel- lent prospects for the balance of 1929. Notwithstanding the reaction of cop- per metal prices to 18 cents, the mar- ket continues healthy, and it is gen- erally admitted that in spite of the inconveniences caused by temporary readjustment, the 1B cent value rep- resents a much more normal state of things than the excessively high pric- es previously recorded. Broader mar- kets for zinc and other metals “are foreseen, and the stock market re- flects tho underlying satisfactory conditions in most of the metals with resulting maint of subntnntinl values for solid stocks in that group. At the same time the further reduc- tion of daily crude oil production sub- stantiates the opinion that the ef- forts already made have succeeded in applying at least a partial curb to the tendencies to uverexpansion which had been damaging the pros- pects of the business. .Freight ear loadings, with an increase of some 31,000 cars for the last reporting week. above the corresponding fil- urs in 102B, chow that the volume of trade is well maintained. As for thfl automobile industry, the continuation of optimistic statements and fora-

ysar‘: dealings. The latest snob ltatsmsnteoiiissfruinbliryslorwbliih

aaiacreacooflopsrosntfn salmsnd-pyontetqrtliotlfltliinr-

cuts confirms confidence in tbh'

this basis, we are now doing an e_x- iport. business of between $5,000,000,- coo and $8,000,000,000 per iinaum. There is a general reversal of Mic ‘state of things of a. year ago when lwe were exporting gold heavily, while our total merchandise export trade was 10 per cent less. Our large bal- ance will have to be financed here as it has in past years, and the pros- pect for an early closing of the rep- arations discussion at Parit, sub- stantially along lines which had been predicted for some time past, will doubtless be followed by a fnir am- ount of new financing on behalf of Germany. Other foreign financing has also been held in sbeyance, and there are not a few persons who be- lieve that the present period of re- latively quiet stocktradlng, lf con- tinued much longer, will give the signal for renewal of substa ‘i=1 bond offerings on an enlarged basis, par- tlcularly on behalf of foreign gov- ernments and enterprises. Political interference with the structure of our credit system would restrict our ability to carry through reparations and other financing with success, and is likely to be discouraged on that account. '

Market Review and Outlook.

As already indicated, c. sound bus- iness situation, and the general sf- fort on the part of industrial con- cerns to get new capital, as s. means of enlarging their operating equip- ment, has prevented any develop- ment of effort to sell stocks, and has kept such liquidation as there has been to limited proportions. For the moment, the question prominent in most minds is not the individual merit or prospects of given issues, but the broader elements in the entire situation. This attitude is apparent- ly likely to continue for some time to come; and it will not be strange, if, as a result of it, there is a good deal of backing and filling in prices. ‘Un- til conditions reach a settled basis as regards credit arid other allied mat- ters, it is to be hoped that the more orderly trading of recent sessions will continue for a while longer. Buoh self-restraint. not only reduces tho prospect of any change lruredlacoupt rates, but is also s. good th fol- the betterment of technical c dltions, which although decidedly improved, are apparently not adjusted suma- lently to warrant the belief that we are on the evt of another sustained upward movement.

Wire braces and clamps have been patented to ’ “ u chair legs that hive become loose. \

Inventors in Holland have prpduo- ed an unslnlubli fibre lope that has

a pol-nous nibbseoero.

t

One factor '

Nils xan szjreins ny miss

wit; ,

. . Incorporated Under the Laws HEAD OIFICEc-Yancoirvu, BC.

Ruby Bill?!’ Alberta, President and Gala-ll Manager;

formerly vice-Illusion: and cede-iii Manager nuisuuu lny Mar-

ilnll 011 Co, Gil-l Geologist Rocky Mountain Division Empire Gas

and ., Geologbt Harland Oil Co. of Colorado and

Gfiblbflfl-l Dqinlfllfll, United Stilt! Geological Survey.

C. G. ~Wllllq Lon Angela, Cafliornln, Mnnadng Director of United ,_ -“ comniting ‘ J and ' ' chic!

‘ NOIDON (XIBPOBATIUN LIMITED is a Canadian , , y‘ the, , of" ' c , ‘ionaudotlicr valuable oil least: nid royaltia, deziving substantial pment income from existing oil fields of the United Siam, directed by technlml and practical tllmt of the hillflt order, which will largely devote its efforts to development of oil in the fields of Western Canada. Nordnn ‘on ind its inception early ‘ui 1928, to acquire. ' ', ‘ apwrtunifies in vndous oil districts oPCnnada and the UnitedStatqimdertheguidanceofllnQflwlillsandmodstn. P8011?! HOLDINGS ih-Insm on 24;!» acres and royalty lander‘ 6,300 sum on sevuiteen distinct oil arms of the United Statnand 10,01!) mu in prnqaeetive valuable areas in Western Camila. United Sfata mytlty interests include portion of iandown V‘: royalty in one of tlio Bum leases in the Santa Fe Spring field of ‘California. Five wells have here been completed to , ‘ ‘ disco deep and verypmllficsnndn, and thirteen more wells are dfilingon the company's royalty acreage. In New Mexico, coin y OIIIWBYIR! under 70,01!) sane, in the latnt producing oil bras in the United States. In Texas, tbs Iota major producing field in the United Stats, company owns leases on 7,500 acres 1_lI Midland rdlfllli, P!!! n! which is now being drilled on acreage-divi- sioil buis by some of the larger , ' coinpania of the industry; leueaoglllfifiuin Crockett count-nowhere 2500-‘ ‘ c‘ aided acres; t on acreage-division basis, is bdng drilled by Mar- ilnd Oil Co. and W. A. Mounted, and where within the past few dnysonewcllreachedthanndsandwssbaillngstthe rateof288 harrelsdnily, with prospects that a big producer would be brought in‘; lam on 960 can in Pecos ooiintymn the Fort Stockton “bigb"; nndlmasbnlptbnnuinwsrdonmtyonthcSoda Lake structure. In Oklahoma, one-half of royalty under 160 sues on top of a large core-drill structure in the Wilcox and area, where Marlsnd Oil Co. owns the inn on Nordon royalty usage. In Kansas, acreage in the vicinity of the reomt discovery inst north of ‘Wichita, Centnl Kansas. 1x080 lesseson Mncreslneastei-n pal-tot stzte,wlleren well within one mile bu just mm: in with yield of 100 barrels oi higb-gravLy Pmnsylvnnia snide. Ofkev royalties and lease: on , wider option or negotiation in Santa Fe Spring: field and to otim fifld: in Texas and New Medea. '

ms onvooiiowuaao omiiurm

SroBln-Foizloue aid ' H2011 0m

-.: . Ce

KAY IE MADE THROUGH ANY O? OUR EYS A

KER. SUBSCRIPTION BCXJKS WILL BB OPENED

‘ORONTO, ON TUYSDAY APRIL 13, ANY EVENT A CHEF.

"trim.

Th: rigbtlli reserved to njcd my and all applications and, in any spent, to allot smaller amount: than an applied jov-

Carlyle Securities Corpqlittl‘

p _ l 450,000SHABES a NDRDON CORPORATION,

of the Dominion of Canada

ADMINISTRATIVE OFFiCESz-Calgzry, nlndiauudmmeisucalltbuuisj ‘ .

' CAPITALIZKIION ~ . » I . Authoriaed’—5,000,000 Shara of no par value. _To be presently issued, including this oEel-ing, 2,000,000 Shares. A, '

. The Company Has no Funded or Other Indebtedness. " REGISTRAR AND ‘IRANSYER AGENT: Montrul ‘host Co, Tomato, Winnipeg and Vancouver.

DIRECTORS . B. P. Hake, Calgary, Alberta, formerly Chief Geolodl, Geological

Bay Mnrland Oil Company; formerly Oil Company of Mexico.

llhjor-Genernl n. m. Hojlflll, n.s.o., duo. Tomato, qd- tario, Director; Director Sherritt-Gcrdcn Mina, Ltd... Sudbury I

Basin Mines, Ltd, etc.

Col. C. D. H. bhcAlpine, Toronto, Ontario, Prul&t, Dominic Explorers Limited; Director, Sudbury Basin Ming Ltd, etc.

Mackenzie wllli-‘uiu, B.Se., Tomato, Ontario, Direaori luv-n.

ment banker. » E. E. Campbell, III...

and Power Co, General, Superintendent United Verde

Mining Co.

' PRESENT REVENUE5:—-Ra

annuni, and rate is expected to reach

fields from wells now drilling.

FINANCES:-—Upon completion of this ,

company will have in exam of $1,100,000

ilv-ralvslvr. CANADIAN OPERATIONS Pnénuuus- dine objective of the Corporation is large expansion ofjts ' - -.

ations in the prospective fields oi Wcstu-n

in posession of valuable geological data, believes some of the m8 important structures on the continmt may be

PRINCIPLES OF OPERATIONS r—-The Ihlfi , have been and will be followed by the Corporafinnjnjiufldhg - - ‘ _ up revenues necessary for uecuticn of its policies, used with marked ' ‘ i . the great royalty lnpanics of the Unitzd-Statuhrillb: rigidly adhered to, thus eliminating, ili largest mnsure, drilling and most. hazardous branch ,of the

I

success by

opcrations—thc most costly

industry. Leases and royalties will be ncgotiateclovcr wwidal spread, thus minimizing hazard of loss and increasing the cbnncu of-bi‘ ,.~

Sli®$.

The Corporation l: not a drilling company and roll can " operation: in that direction solely to 011m drilling when ' aliens an imperatiuely demanded in f! tactics o] it:

PERSONNEL :-Tlle standing of the directors of Norddn Corporation is of the highest order. Prmidmt. and Gum-Al ' Glui M. Ruby is acknowledged to be the outstanding antllorfw ' the prospective fields of Westem Canada, with the t “ < . . in continental oil niiairs. Managing Director C. G. l _ equally high in the Southwest and is generally accorded a porflmiiip i‘ ' ' the credit for discovery of several of the important fields intlse IQ Angeles Basin. From time to time, snnouncmientfwlll , regarding the personnel of a Board of Consulfanmwllieh will-faded; .. . ..

oil experts of continental and international

Application will be suds for listing on Eastern and Western Stock Exchanger. Literature, with halftime: and maps, containing further details, gladly iumishcd upon request.

v ' Terms of Subscription .. L ' - $3.00 PER SHARE, PAYABLE $1.00 wrrn APPLICATION AND $2.00 UPON nnuvnng ""~';~:~ — or CERTIFICATES 1 T '1

BRAN‘ RRFSPOND

OF BUSLNES 0N MAY l, 1919.

SAIINT JOHN. N. B.

Ilcsldymqhulldldlisbwsknlupalhlnnilellsllwdylobosnllsbhbirllkcemdnancgslnlkimsiatbsgouniuuel. , Y ,

Toronto, Ontario, Dimmer; formally ,- Assisrant General Manager Granby Consolidated Mining, Smcltifl j

yalty mains fiunlvo.

in Santa Fe Springs field will presently be at rate of $100,000 $500,000 per annmn before ' end oi thn year, as thirteen more wells are being dfillcd on leases. Further revenues are expected from Texas and New]! i

ND CO ENTS -A'i‘ THE HEAD OFFICE 0F I929, AND HAY BE U133!) IN THHI '5:

y _

DcpL, Nhrbnfl 1.

1,,

i.u its treasury.

cuuudu whee in‘; '.'

oph- ‘h ..

be ouch reputation.

_i 0R

\

-¢'>4 _,.

nsan-"nx- 11s.‘. ..

' ' ' . l WHEAT Stock Quotations jMay . .. ...114=v. HALF“, ‘mun __ Quotauomimly . . . . . . . . . .. . . . . . W118“; (“milked bynwhmton ‘m, wndfept .. . .....122‘,4 Members-Montreal Stock IbichnnEQ- i __ , . CORN NEW YORK EXCHANGE , "_ ' '_ ‘May .. 89H’. At Topaz SaniaFe Ry ..100 lJuly .. 92“; AnLCIa-i Co ‘... . ..13'l "Sept .... .4141.‘ Am Cll‘ s: I",_dy‘Co ‘... ..100% Am locomotive Co‘... ... ".118"; OATS Am Smeltdrle-Co ..1oav. . Am Bosch Mil; Co 5a»; lMay . . . . .. . . . . all. An Copper mlnou ... ..140*$iJuly . . . . .. 4511i lvircmsunudnvnn. Sept... “.4311. Con Gas Co (N . .. l-lud Motor cai- 0o ‘... .. 85% WHEAT Inter Paper 0o 54% Standard Oil of N J13‘. ....aa-'/. May ....iz1=l . i Reading Co “lam July . . . . . . . ..12s=.'.1 Southern Pacific ....l2'7 Oct ...l2a=." Union Pacific Ry ... ... ....2l0% iii- u sin Alcohol Co ...1s1 Whales Stranded on Coast Weetinghouseylllec M15111. ____ United Statesfitcel '...186’,i Washed into shallow water by a se-

ivere storm off the coast of South‘

.Afrlca. recently. a large MONTBIAILSTOCK EXCHANGE

Ablf-lbl 41v‘. AtReCo ..1l

1n Alcohol 3'1 ‘ ~recrulted to remove them.

Montreal Power M10586 National Breweries .'.. “.139

Winnipeg Ilec .... .. a1

Brampton .... 47% Brazilian Traction-... ... 58% Steel co or dsnida ... ... ssv. Shawinigsn .'.. "rev.

A method hu been invented for drilling and tapping compressed air pipe lines under prassure.

Collecting The

u. one -..

school of,

whales were stranded on the shore] j and died before they could swim back} I from the shoals. Crircasses were l strewn along the sand for a long dis-l tance, and emergency workers were!

i Inspectors of Income Tax throughout] i the country. ‘E * For the fiscal year ended March 31,‘ l 1929, tlTé total Income Tax collections! .\vere $59,422,297.00, an increase over! . the previous year of 3285125000, and‘

this in spite of a 10",; reduction in the}

tax. Those in a position to estimatci ‘ the present position of business in‘ 7 Canada feel that Income Tax collec-l tions for the fiscal year ended 31stl