. billion Z4. 19o’!

a Dreamland

srovide cool, refreshing,

rulvrs HUNDRED booms T0 Dreamland . . .

The key to ypur door st the Mount Royal Hotel is sure

Que of our 1 .1

a r

pleasures is to Bleep for you.

u! friends forgive us be 13m W “wri ~=<=w-st"....; mist 122m: em" .9“ Y°il are tired after your long trip, remember its sleepy lune at m, Mo“, Royal HOEL

Uvman G (an!

MANAGING DIRECTO

Announcements uud

wont - p" I in Memos-tun Notices,

er wont a

wurtl. Other rutee on application. lllnlrnnns

>_»

M For Sale

FOR. SALE — BUILDING LOTS. Apply Charlottetown Real Estate, 214 Cumberland. b5464-2-24-imo.

_IZ "n Turuvu-s FOR sans: n‘ J. Wm. Macmalrs, Union Road.

14-771-3-22-31.

~ ~-~- ion ‘sins -- SECOND BAND

Cart. Pmude dz Moreslde. _ Pliifiiifiii-‘ii-

FOR SALE-BABY PRAM CAR- yinge, Apply 63 lillm Avenue.

iriiihi-ZE-Pl; ‘m; 551,5 _ JUNIPER STAKES and posts. Terrence Mai-genius.

Elliotvale. 24:3“;

_- TWO PURE BKED

B. SALE F0 Shorthom Bulls.

Dual Purim“ Age 1 year. W wall.

nurv nunnuu TRACES 51,50 up. Clinton Morrison. deal" in American Rubber Belting. new and used‘. Iivedericton Station.

HEANY

p_ 1; L ' L-"uc-a-zo-n. Wasted

WANTED mm SITTING ROOM.

Write Kay care Guardian. _ , L-808-3-23-3i. _ ' '

WANTED TO TRADE GANDER

f’ .1 . llldvertising Rates-Payable in Advance

Central (innrdinn lot-nil, 4o per word; tieutarn and Enltorn locale, In (fuming Events lo per word;

r

Cinlliliod 70o per inch; Lint: of Finrui unit

uglrltunl Offerings, Cards, euu, Io pus- nunse; lA-tlere uf Condolence 10c pee inch; Notices of Thnnins and Appreciation, 70o per tnehl or 0e 9e!

Chnrge for an! advertisement twenty-live cents, J§Ql

_ Miscellaneous

________________ ESCAPE!) — MEDIUM SEVERE!) Female Fox. Jack Crosby, Com- Wail» i-iiiziffii

GOVERNMENT JOBS. HOW TO get them. Be ready for sprins BP- pointments. Free Booklet The M. c. C. Civil service schools.

‘ - nto i0. N-28-3-w-s-tf. _______ , f, _~__. _

INSURE IN TiiE SUN LIFE. AS- sets $777,000,000. These are great- cr than the combined assets of

the four next largest Canadian Insurance

Companies. Asents Consult J. A. M001?»

WAPYYED BOARD RS- PHONE 599. y L-sis-a-zz-al. — > BOARDERS ACQOMMODATED. very central location. Phone 1135- 135 Pownal st. L-8l0-3-22-3i.

__

cad mnld, Apply Mrs. Amos Rodd, Milton L-8l4-3-22-2i.

treet fie 7P. M. Syd“? S a rLu794-3-23-2l.

____7___ f" f “i” ""

for a goose. Harold him-ray, Marshfield. _L-817_-‘ 23-31-

Male Help W nted -_TI7 1 -_ T

WANTED — MAN FOR. FARM work. Apply stating wages and reference "D." care Guardian.

L? . .

WANTED -— TWO EXPERIENCED farmers. One married m take charge of farm and live on same. Oue single over 21. Steady 10b with weekly payments Apply i0 Wm. FJJerdine, l-leud of Hills-

zboxo, P. _E. I 11-332-3-24-31.

To Let

FOR RENT — NEWLY DECOR- Btcd tl-room house, with garage.

Apply McLeod a Bentley. 11-715-3-20-81.

if” ‘tron SALE

At the Walker Hotel Stables, Richmond Street

i. 1B good farm horses, well

broken, single and double.

Some good brood mares.

‘I i coupon WRIGHT.

UANKE ‘an _____. (Huppllml by Woods-Rondo uml Cn.) iiuukn IWII Clone Cuumlu -~ ‘fiifll/b .\lunll\‘nl 1p" soul s 3110 lioyul 2-9 l-"l NANCE .__.___ ii ll l b_ \\‘ lM-RHMIQ ‘ml Po.) l ilbllllullal fululs lll" N. Y lQ-l-ltl illu-

Slvrlilig ut New York 1.811s l" 4 93 count.

TOBACCO CO. LTD. cusniorrsrowu P-H-

V wrlglr Her

i

lfll‘. b-HAKLUI lblUWN UUAKUIAN

PAU l‘.

$100K QUOTATIONS

MORNING STOCK LE TIER

(IQQIII ever Plilllllflo’! Private Win)

l

MARKET BULLETIN

(lendvolevorWeode-Ineleeudoosnpew Special we»

preceding year. Peuma Ltd. re. P0115 net 1306.239 for 1936 against $295301 Wvrkins capital higher. Industrial Acceptance Corpn, re. Ports earnings equal to $3.55 pef share on the A Stock for i936, 11g. alnst $2.12. Abitibi~Prlce Bremen, announce $50 rate. Gazette,

NEW YORK. March alt-me de- partment stone strike in Providence has been settled with s. wage 1n- crease of from 5 to 10 per cent, The Detroit situation w. tfnues iliiqiiimfled. Governor mirphy ha; mum! W51“! Chrysler and John L. Lewisyto a conference in the Gave-mos capitol office tomorrow it 11 oclock. In this morning's news there was a. considerable Publicity Riven to the (w. that m "wilds of the treasury may m1 shml" °i BXPWWIiOXIS by an amount of between $100,000,000 and $150, °°°-°°°~ This may necessitate the irwmv needing new funds. Divi- dend meetings today are American Light and Traction and Hershey Chocolate. Yesterday was the mm "umimive d"? of decline and there is mil/iii"! in the news this mom- ing which would encourage buying eXWDi the severity of the decline °i Yesterday. We would look on this morning and await some evi.

PITPSBIIRBH, Pa, Mflfch 23_ John L. Lewis has invited the big independent steel producers to fol. low U- B. Steel Corpn. in signing a steel workers organizing com- mlttee contract granting the Lewis ‘WW5 m? Film to bargain for their union members in the mills,

TORONTO. March 23—Ea.st Mal- artic-Recent developments at pm. Peril! 0f East Melartic Mines, Four- niere Township, Malgrtlc may“; ere the best in the company's iii-Emil’. Says J. P. Norris, Benerul mmiiW°i3 in "Porting on results between February 16 and 2a, In the

l WANTED AT ONCE EXPERIEN-

Msm WANTED - APPLY as

den“ of support. N0. 1 shaft the m vein was ex-

tended 56.5 feet by raising and 593mm by drifting on the s25 i001? 191/61, in ore of average grade. In No- 2 shaft the 1-2 vein on the 175 foot level was extended 40.7 feet east and _2'l feet west on min- eralfzcd dirorite with coarse gold over an average width of 10 feet, the average value being $10 per ton. On the 325 foot level, drift 2-6 east was advanced 21 feet in ore wider than the drift and grading $7 Der ton.

MONTREAL-March 21i_Oonsoli- dated Chibougamau-According t?) the Bmelieis engineer “considerable encouragement is to be derl\d from recent drilling result; M, Cedar property which suggests some interesting ore possibilities me iifiiiing. of course, must be’ con. “mm W underground work? Re- sults from 17 drill holes gave gold values ranginf from 102 to g4 °iiii°e Der ton, silver values from a trace to 1.10 ounces per ton, and 0991391’ from .25 per cent to 5 34 per cent. To date five veins have been exposed on 250 foot level and one on the 500 level. Veins so far exposed estimated to contain 55.- 02:: tons averaging 0.27 gold. 1.25 Der cent copper with an average width of three feet. Canadian pig iron and steel production up for February over February Last, year 1L2 Der cent for pig iron and 24 per cent for steel ingots and cast- ngs.

Brazilian reports February 1937 net earnings up 18.8 per cent over February 1936. and gross up 15 per cent. For the two months net earnings improved 16.8 per cent. Gross 16.7 per cent over January and February 1936.

TORONTO. Mal-cu za-wuue- water-Share: have been Epprov. ed for listing on the Toronto s, E, and will be called for trading wed. 11956111’ March 24th. Abbreviation will be WTW- Authorized i5 3,500,- -000 shares of which 84.270 are pre- ferred and 3,415,730 common all issues.

TORONTO, March 23—-Bidgood Klrkiand~Acoording to advice the true import of the find at present is not known.

Ruben-Sharp criticism voiced by several of the holders present at the annual meeiiiifl of Rubec yesterday, at which affair‘ of the company were thoroughly uiscussed. No report from the Quebec Mines Depen- ment a; to results of its investi- gfltlon into an alleged salting was yet available. It was said that no report on main operations had been received for two months from the engineer, J. F- Mulholland. The meeting was informed that e new engineer would be appointed.

was share

MONTREAL, March 23-—Ford Motor: of Canada reports earnings equal i0 $2 02 per share for 1936, a; compared with $1.17. Brazilian Traction February net of $1,480,- 211 as compared with $1,307,812 a year ago. Canadian International rnvestmert Trust Ltd- report net income at $88,517 against $59,636

l MINING-

,’ Bllllkl com liruo llrccst

(‘iludulncu

Illllflied h; Woods-Bud A Co.

’ off ut

Stocks (‘llllv

Alllvrllilli: 150

Argosy 1H0

Arutfluld 8'.’

Astoria Rouyn 1.1%

BPOWIHIEU Si; Johnston Nip

Buguuluc \ Kuw Crow

lhisc Metals -’ Luke flu-nova

l-ln-ulllc Luke liuwiru

liuuufor Lulu hold

Bldgood Leroy _ no; Missouri Mnguut L ' 12-14 Bnhjo Mun Blrd 72-75 ltuuacudlllc Mimfllill 0r ls Brulurno Masher 24-20 Cun liful Norlnkc 10-12 Unl- .\lul ' Nurlnclule 105-180 Castle Tr 2 North S 415-7.‘ l‘ntl Kirk .‘ Ohuiski 23315 Cutl Pur l: filth-lull 20.20 Cntl Linn 1i 011i lllumond lll-IL‘ (Shem Research 14 (Irlule 13.1,", Clilbougarnuu 177i (Vlmury 154g (‘nrmulum 107 llpoiufska 47 5t (‘l\-|'l<-y ii l'ult|-r llnfll i-S roast. Cop ‘I50 lflilffll K

oniu - 4700 Ruhm-

lmrvul Si! N’! Su-hrlvhor Exist llul 1T4 Slguul llffnes ' Elihu-ado 310 Slueltcrs A 8A Falcon .1025 South .\fcK<-uzlc~ ‘ 3-6 Fed Kirk 27 Springer Still-g 13-10 Glonura Hi4 ‘Ponawuudn 0-11 (tolls Lake ‘H Upper (fun- 024:5 Goldnle Ilil l1 i1\\‘l\il uu li-lll Guuuar G 90 Wondigo 20-30 Hard Rock 2110 “W-sl. [tr-d l’. il-tl lfurkcr 2i] Wiuogu Put 2ll 20 llolllngen H00 Young Dew ls-z: l'lu\ve_v' l Hud Bay Jelllcoe

\' r m e ‘l"l“i“‘1 s '

La Montreal Curb Ln '0 .\'l|

Lulu Fun

{imih 0m (supplied s; rimeu s o».

1"“ “n”: I‘ Members o! Mont-reel Btefl

l\l w mm 3101111100 and Curls Market) lltncmssu ...

: Hlnulnl Open (lune an Ainlllil 14-34 l) 17 lulu-elm; 1M 107 4000 u A on ma, 2w, l6."- ih-uulmrnois 15‘ 7% 0% grit-tr xurp 714i n | lfl 30" 07 Van Ylvk l” l‘ ‘lll Dom tau m 11M 10, 10v 5s‘ [rum-r H 3, I,“ 401A 4% hrnser V l C g7 44; m Ferd 2.11;, 21 75m) lltr Walker aso flow» 011 us 21m ii i‘ - I 3N6 lllltp Poll» {in 3| blvlr-iuirs A l‘ ‘lll "" 4'.‘ 43 V‘

Puyruneter s;- Roynllio m so Penri Orellla pg,“ llnht Mitchell 24% 24 Per nn m" Rolland m) g9

BAKING MORNING LETTER.

I said Saturday that the general list showed no signs of having made its final low and I am com- pelled w say the same thing ag- ain today. but I also feel reason- ably certaln that final lows will be made within a week, possibly by Thursday and perhaps not until next Monday.

The mdustrial Averages will probably go 4 to 7 points beiow today's lows but smelly of a. point o rtiwo might come first For the present I again advise you against indiscriminate purchases and would confine buying to our specific re- commendations as advised for the past two weeks.

U. B. Steel got down to .112 1-8 and I think it should go to about 108 before moderate purchase may be started.

Republic which I said to buy back Bi 4° Hflsht so to as. Would start buying it back from 40 down.

United Airlines is not likely to go more than a paint or two lower. Would buy more near 18.

Hollander went to 28 3-4. Would not be afraid to buy a little more at or just below 2'1.

Phillip Morris, purchases on fur. ihei’ iii!) Wiii do 800d profits be- fore long.

American Smelters on which you should have taken profits around 105 is back to 92 1-4. Around '90 SW1 buylns 1t back.

Anaconda reacted to 59 5-8 if it breaks 58 this w-ek buy some more.

Industrial Rayon closed at 37 3-4 “iii, Woiiid buy more 1r it breaks a": ileum. It acts exceedingly “i611, 4011. S. Indus Alcohol also closed at 39 and can still be bought around

Ainlrligrlcan Hide and Leather m- m I Purchase below 10 and the pfd. around 47.

Chrysler and General Motors qe. clined further. Don't buy yet.

Douglas Aircraft sold near

out again if it rallies to 89. Brook-

l and when it goes to 88 or 87, wa- to 39, if reached thLs week,

MORNING MARKET LETTER.

silcihmivii "Q1181! degree of resistance. e days volume was not large

concentrated within a few selling waves and some of the recent mar- ket leaders.

The lack of any convincing m1- lies between selling waves encour-

sible that on e worthwhile rally thin offerings might be revealed n: has been the case at many times during the pest two years. but un- less more concern and fesporsiiyl].

expectation. Chartwise the Industrial aver- 1188 closing yesterday at 170.82 is

11m Manhattan Transit remains a b ‘ ‘airlst the market in general “y around 42‘ Bethlehem steel u It is in a buying range.

fixed further liquidation. It is pos- 3 mg increase in

Stocks in a buying range llltilllui: Distillers Seasrams, Howard Smith, International Nickel, Power Cor- poration, Dominion Steel and Coal B. Canadian Pacific, Brazilian and Eldorado.

Pressure in gold shares was not particularly heavy. A brisk’ recov- ery in O'Brien added to the recent evidence favoring downtrend in the gold shares.

Ractions may be used for mod- erate buying in Sicoe, Macassa, and O'Brien.

Banon-

NOON COMMENT

The market has regained 50""? equilibrium and a few of the lend-

l

f

reversal of the i

ing Rails and Utilities appear t0 ‘

have some rallying power.

The news that Governor Mur-

piiy had lllVlWd Walter P. Chryler l

and Jonh. L. Lewis to confer. he!) ed to stem the selling und gave some encouragement to the up-

trencl this momixig- Not only would ‘

such a. conference improve the chances of early settlement but many observers feel that lewlS. although a hard bargainer, is re- sponsible and the lack of respon- sibility in the U. A. W. to date hus been the mot ciLsc-ouraging aspect oi tlfc Detroit situation.

Laidlaw 8a Company-

BANON AFTERNOON LETTER

The rally in New York this morning 1s not particularly vigor- ous. since stools. however, are still oversold and additional recovery would new be logical. Traders are deriving some encouragement from the fact that the rails have $0 flu‘ failed to conflrnl the clown trend of the Industrials. ‘

Around 3B American Mills is undoubtedly at a buying level. Probabihtle" favor an irregu- lar recovery to the 43 level. Buy American Rolling Mills cn dips-

51’ ‘ The steady demaud.curreutly' shouv but would buy it on myth" break’ for Cont». Edlso nof New York is

Sea“ Rmbwk Wm“ i” "- s" "- likely u» be followed by a m.

recovery once selling pressure as. ends.

Anaconrlzfs smart

following its recently over-depres- buy around 60.

In the Canadian Division Fraser Voting Tzust and Donnacona A

exlgllfdgeclmallg thglmarket w” show strong signs of getting under

sections oft... ff. ucitiffé" .12 gggmggiyvggi,g;i,;i,;g3,<=<;";c§;"

Utll ' - ‘ ‘ ' ities which until ye terday had l rem prices,

Abitibi Pref. is headed for new high ground. Suggest an addition-

but a Sumtmmal part of it‘ was ul committment at the market.

Banon . SUMMARY

Texas House passes bill propos- prcductton tax on Slilplllll‘ to $1 28 per ton from $1.03. Indicated Sunnis will accept bill.

Electric Bout Company 1936 net profit $358,111 after $362,752 re- serve for Vinson Act refunds ag-

gigdfiofiijfifnifgdheigg Um” “b” alnst $430264 in 1935. Despite ef- mution on the art er?’ continued fort? to hinder flow of foreign bal- seeurlt b“ r pm l; potenmu ances to this countiy, movement of

y~ ye s w a logical gold into the United States is pro-

ceeding at rate not sccn since pre- devaluation currency scares. Keith Albee Orpheum 1936 net

with“ a“ are“ "he" “ppm “"15 profit $i.’.237,14l against $403,013 on

manifested in the cember decline and is not far above _ go December ‘_ ‘ 10w of 175,-

Laidlaw A: Company. BANON MORNING LETTER.

While yesterday's reaction was sharper than I thought possible at the preterit time, I would like to Point out ‘that it is precisely when stocks are declining bearish news that prices have a habit of recording their lows- The

tant recovery will not likely be long delayed. It you estubllghgd positions on yesterday's sell off you will probably find the committ- ments turning out profitably in the relatively near future.

weflkiiefis "WY be used for buy- in: American Can, Electric Bond "id shire. American Water Works. American smelting and Refining. Baltimore and Ohio, Ailacoucla Electric Power and Light. Stand- ard Oil of New Jersey, National Distillers. American Rolling Mills, United Aircraft, Crown Zellerbach, Delaware Lacknwanna, Canada Dry. Simmons. Republic Steel. and Southern Pacific.

Canadian Shares sold off in fiyilipfliiiy with weakness in New York. The papers were an excep- tion. There is no doubt that the papers will be star performance once selling pressure in the gen- eral market l5 lifted, stocks 5m] attractive at current prices in- clude Abitlbt Preferred, Price Bros. Common, Consolidated Paper. St. Pwrence Corp. and Fraser Vot- m.

Pol Crown Powell Rouya remier

.... Ulll-IIIIII Al old Albany I

rapidly on ‘

l l l

market Ls oversold and an impor- lghm-Q my

77°"°mb°i"D°' pfcl. m 19x5.

Super Healer Co. declares quar- terly dividend l2 1-2 cents paid January 15.

Governor Murphy invites W. P.

. Chrysler and JohnL. Lewis to con-

fer in Lansing at ll A. M. tomor- row ' Standard Oil of California ad- vance retail gdoline l-2 cent in all Pacific coast states.

Hudson Motor Co 1936 cons. net p1'ol‘it'$3,305.616 equal to $2 l4 a. 1.543.810 shares exclusive of 52.850 shares held in treasury vs. $584749 or 38 cents a share in 1935

Windsor-Report of Ford Motor Company of Canada for year 0nd- ed Dec. 1936 show? not profit of $3.358.470 including $2,517,351 por- tion of aggregate operating profits for 19156 oversold subsidiary manu- facturing and distributing 60m‘ panics withdrawn in dividends rc- celved or receivable and after de- preciation, Canadian and other in- come taxes etc, equal to $2 02 a share nn 1.658.060 shares Class A and B shores.

Subject to court approval, sale oi large block of Price Brothers Com- mon Stock sufficient. to give work- lng contract is reported to have been arranged. Amount is said to be 137.000 shares at $41-25 a share.

30 Industrial,- high 182.83 low 179.28 last 179.82 off 4 22.

20 Rails high 6i 69 low 59 86. last 6O l8 off 2.40

20 Utilities high 32.69 low 31.88; last 31.92. off .87.

40 Bonds 101 65 off 30.

Hush-London market opened weak but recovered somewhat later. lntematlounl fisllos also recovered after lower opening.

Lohigh Portland Cement Co. de- clares regular quarterly dividend of 37 l-Z cents on common.

Dow Jones

Anlcrlvail Wcolcn Co. today an- nouucr-d general advance in price of all woolen goods ilvr: cent; e

yard.

Net profit of Westinghouse Air- brakes and subsidiaries 1836 $5,- 548,782 vs $302,473 in 1035.

Dow Jones

Notice received from i-lupp Motor Car Corpn of proposed change in authorlvml common stock from 2,- 000000 shares per value $10 to 2.- 051000 rhares par value $1. Each shares of preent stock to be ex- changed for l-2 new share

___i.__€____.

lihllllnntlineetlle-

Rolling l

. rally cur-N bash A near H’ superior steel 4° morning is a natural dcvclcpmcut

Baring" sed condition. The stock is still a 1km l lll

I 4

4 l

of 25 cents against i, Null 1m.

The beaver builds above lllE lltitltl line i

A beaver colony, by instinct and experience, builds its homo Q that the sleeping quarters are clear of any sudden rile of waters.

The beaver never relies on unyone's gossip. He exam- tnll thl river bush and notes the history ofwstor level-l. only after he knows the safely factor does he ltart to place lsll Itich and plaster.

Financial inveetore have to fsce the B01116 hazard of a “flood line"; and its presence or absence may be quickly determined before making CDlTlmHlYlEnfil. l

No [town-up beaver acts on a Hunrh.

but fhoulnnde of ‘securities buyers‘

free! pro-vision and pro-caution ns non-essentials.

Ibewledqo end commonsense should be tho advance quarde of every investment programme. We invite you to make full and free use of our facilities fol accurate analysis and to regard our staff as (jrnuinely lflfufesfe-fl in your financial advancement.

JOHNSTON ANDWAPQ

Hood Office: THE ROYAL BANK BLDG, MONTREAL

Members: Montreal Stock “ hunqo Montreal Curb Msrkoi Canadian Commodity Iscbanqe, lun.

Branches: iledruei, LO. Toronto, Out. Kinqflnn, 0m Lcnrlun, Ont. Bslttn, ll. Byduy, NB. Monciou, N B sum luhn. N B.