MARCH 11»1"35... _ 1-na crnuu_m"rE1`0WN GUARDIAN mica rlvn

‘YE3?7*`E1rD as STQZEK ___-_.1 Bo DQ 0114 T1 “N”

E211; H03 0109?' T0 D0 C g [MARKET CGO;€SI-IIETT an-=___-CTE* a I A A =-_“__

Business On

Open Market

Un\AwA_ March 10, (CP):-

_rhe Img;-or price level and the “mpc of business activity in Can- ,da are expected to come under the mnugnce 0! the Blink 01 00.118118. _ whim _mm operation today. The g__nk's chief purpose will be to put gm active operation the principle or control of both paper-money is- rue and creation of deposit credits. w_ 0, Clark. deputy minister of finance and sometimes called "B00- isther of the Bank or Canada." gxpmmg me new Bank _ will not normally deal with the public at all. Wm not accept deposits nor make icons to the public: "Its clients will be only the Dominion and provincial governments, the chartered and savings banks, ex- sept on those occasions when the Bank is engaging ln open market operations." _ weapons which the central bank

would have to control the total volume of currency and credit- _md consequently to influence the ‘mer-nl tempo of .business-are enumerated by Dr. Clark as: 1-Manipulation of the rediscount

raxc.

g_0pen market operations.

3-Exhortatlon and advice. “Under a central banking

system," Dr. Clark says, ‘fthe p}~i\~atc or member banks are norm- oily dependent on the central banks for emergency funds or for cozpius funds required in financ- ing heavy seasonal requirements or the latter stages of a period of busi- ness. expansion. As the banks re- quire to expand their cash reserves io take care, of these requirements they borrow from the central bank bv selling to it or redlscounting with high grade securities or ¢_,m_n_ei-cial bills defined by the act as eligible for central bank ln- vostmcnt. It is obvious that by rais- ing the rate of rediseount charged for such accommodation, the cen- tral bank would be able to dis- courage borrowing by the member banks and conversely by- lowering the rate to encourdgc it.”

Dr. Clark thinks it would be in-

teresting "tc discuss the limita- tions to the effectiveness of this device of interest rate manipulation. particularly in Canada. where we have not a developed money market with a highly sensitive structure of interest rates as in London and New York ,und where our opera- tions in Montreal and Toronto would not be lniluenc d so greatly ns they would be by c mtemporanc- ous conditions in the New York money market." But he has not iicrclcped this point "A definite raising wi the central

i bank rate would have an important psychological effect on the mario. t." he points Out, "and this psychologi- cal effect. coupled with advice and admonition on the part of the central bank should give the lat- ter :_ vary considerable leverage, particularly in preventing a speculative boom from going to in- ordinate lengths. ' "However ,the effectiveness 17

the third wssipo of control de- pends very largely on the prestip and influence of the officials of the bank," Dr. Clerk states. And he pays tribute to the ability of Graham Towers, governor of the Bank of Canada.

Deallr; with open market operations by the Bank of Canada Dr. Clark says: "The nature and DUTDOM of these operations are really very simple though the ap- plication ot them in practice requires the most mature Judgment and the soundest possible wider- stcndlng oi the general economic situation. Let us assume that we are in a period of dememlon and the central bank has decided it is sound policy to endeavor to stimul- ate expansion. It may then buy in the open market. government securities and commercial bills of certain classes and maturities dleflned in this ect. "Let us suppose the central bank

buys $10,000,000 oi Dominion of Canada short-term bonds. The brokers or dealers er individuals from whom they are purchased will receive in payment chequu drawn _ on the central bank. These cheques they will depodt in their own banks and of course the banks will eventually find that their balances with the central bank have in- creased. These balances at the central bank are the equivalent of cash and the banks thus find themselves with more than their usual prvilortlon of cash reserve to their depomts and note liabilities outstanding and are in s. position to grant further loans to customers or otherwise to create additional credit."

Conversely. Dr. Clark explains, ii

the Bank of Canada wanted to “put the brakes on" it would reverse the process and sell bonds out of its own portfolio, a practice farnlilarly knows as "mopping up credit ln the market."

Other important functions of the

bank will be to maintain and centralize the gold reserves of the country. The chartered banks will turn over their gold to the central bank with the exception of that re- quired for their external business-

=_-;-'~-' 1 _ .1 -'-

N. Y. Stock

Exchange

(Quotation furnished by Johnstol and Ward members of the Mont real Stock Exchange. Montren Curb Market. 156 Richmond S4100! Charlottetown).

_'__i-

loehn ' Ollelmd _ Led

Bouth Pac _ __ 14% 1-7:94' South limi ... _... 8% B;

Stood Brands .__ ___ ._ 123 10 Stnnil (las lee _._ .__ _ 2% Stand 0ll Cal ... 29% 28% Sinnd (ill N .I __ 07% 37 '_~. Warner ._ 7% 7% 'l‘l\euhn\d - _..._ 2% Tux (,‘n __ _.__ 181/rr Ter Gul! Sui ... __ 32%

llnlon Curb Carb .__ ._ 47

llnioh Pac ____ 87%,

United Corp _ ... llnlied (ins Imp ___ __ U S Ind Al ___ ____ ll S Rub

2% 18’/1 32% 47 Siilb

1 We 101 0% 92.1 3814 :IN

(By Johnston and WAl1l'l Bpevlnl ‘

Wilt)

IOINING IABKIT I_l'l'_l'Bl

NEW YORK, N. Y., hhrcb 0-Thr

market was very ‘Filet yesterday with volume declining urtber to 440,000 shares. Ruliylng tendencies were shovm in thu earlier dealings, but by tho clone net changes on the dl were nominal with the Industrlsa

oetiniia little better than the Balls. Tha sils have shown lclrcely Any

rallying power and the recovery has been sow. Thur. the boaitlon of the market would appear to be s delicate one Ind more strength on the ad- vance should develop shortly if g lubstantiul decline il not ic develop.

Laidlaw and Co.

SUKKABY

NEW YORK, N Y,, March 0-ll. B. giael February shipments ut noon o ay. - Gold Bars quoted in London at 141:

51,40. \'|_ 148s Mid Friday.

Cuban Government suspend! con-

stitutional laws, except as lt affects foreign treaties and nternational oh- llgations, while present strike situa- tion exists. ’ American Rolling Mills Co declared dividend of $2 on pfd. A dividend of 82 will declared on Fab. 5. 1035 first since ommlselon on April 7, 1933.

United Drug Cc 1034 earned 81,31

e. sbllre_ which includes-non-recurring profit of $028,412 as compared wit 40 cents earned ln 1083.

President Roosevelt denies Admin-

‘lstrutlon to lend ship lublldy bill to

Congress. President to prepare iwo messages to Congress over t s week- end. Decliuel to say what they would he, ltstlng that he had five subjects from which to choose and that when be had sent messages on these five, be would have cleaned up his major

legislative program.

ester Whse er Cow and lub! “but

excluding Foster ,hoeler Canada" 1031 het lou 4537.128 after charges va .net lon $746,820 in 1033. _

High Low Lael Up

30 Ind 102_31101_2T101.58 20 Utll 15-88 15.58 15-51

- lllgh Low Lost

20 Rall: ._ 29.20 28.82 28.05 0.12

40 Bondi 05.12 0.12

` Dow Jones.

.=».°

3 :ie

_ nsuou urrln

IIDNTBEAL, Que., March 0-

Btrength in k number ol, Utilities failed to arouse enthusiasm' in the

funeral list of stocks yesterday. ndastrlnls and Banu flnotunted in a narrow nngs with the latter division fnctionslly reactionary in the lace of an -increase ln car loading; report- sd for the week.

Dullnesl and irregularity will like

ly feature tcdcy's half union but a reaction testing \Veduesday‘s lows is likely to develop early next wek. ' Turnover in the mnlrags notion pf Toronto expanded to $1, ,000 shares yesterday. The fact that activity was concentrated largely lu lower priced iuual -which I number of leader! like Hollinger Brslotne and Little Long Luc developed marked resistance to advance suggests that the gold: should experience s minor correction before the uptrend il again resumed.

Home reactions are not llksl¥_ how-

ever. to go far or int long, I recom- mend thut you stay long and dig- regnrd any temporary corrections which may develop.

Bunon_

_ BAIIING LETTER

Friday Evening

NEW YORK. N. Y., March 8-May

wheat closed 44 higher and Corn IA lower. Cotton closed 2 or 8 points

lower. A gradual steady advance is near. The ndustrlal averages went 1 full nolnl over the l-lgh of enterdey to 102 31 closing nr 101.5; sgalnlt '.l‘l|ureduy’s close of 101.17. Asjtated

yesterday, they might react ones more to near 00, .either tomorrow or Monday morning, after w_h\¢|| 1 ex. pett I resumption of the advance in- to entirely new high ground.

Ama., Foreign l'o\vsx\ 7 per eentl

pfd should: bs bouglit around 17, the

six Dercsn Around 4

Corn Products on Wednesday went

back to our buying flguro_ 03, or rather 02% cloning at 65 today, ltlll a buy below 04.

Calagele cloned M95 and purchases

lroun or just below 24 are recom- mended, it should gc well above 85.

The Rllll did nothing Ind the fav-

orable rate decision expected for this week bu evidently been delayed. However purchases of Atchison ar. ound 30 to 38, Southern Railways pfd below 11, Southern Pacific around 14 ue bound to show profits bstoro

long. Rubber gfd should be bought nur 81. Gen, lectrlc near 2, Cue Tbresblng 52 tn 51 and Johns Man- vllle 42 to 41 Westinghouse 55 to 35. Sears near 32, Montgomery Ward 23 and I reinlill bullllh on the gold and silver ltoekl.

Barlng.

Mizvuvc

(Canadian Press)

TORONTO, March 10-Penny

shores had the stage in closing les- ainn of thc week *an the Toronto mining lhure market and gainl cblikcd up by the group modified the generally soft tone of the board.

Senior gcldl showed little action

and secondary golds_ while lctlv-s in spots, turned in more loslel than gains. The market for bus metal and sliver share: was rather llfsleu

with narrow losses Kredamiueting.

Cblbouglmau trade 220.000 shares

and closed 8% higher st 22. Wltyslde :teamed up to record s gala o 144 on heavy urnover.

Gains of 20 cents each were bonr_1|~d

for Hollinger end Mclntyre and the

other big iolds were unchanged or lower. lan ee Girl, listed only this week sold off 0 cents to 77.

(Canadian Press)

TORONTO. March 10-

Btoeks Close

_.E8

Acme Oil . _ _ . _ _ ___ _ _ .__ Ajit 01\._.___ _ _._ _ _ _uh pac . _ _

Anglo H ... _ ___ ... _ __

Alex __ ,_ ___ . _ _ ._ Algoma _ _ ... _._ ___ _ _.I

Bagamac __ __ _ _ Barr-y II _ _ __ .__ ._ Bear __ _ _

Ssmggn

127,

U 8 Smelt _ _ _...1lil U H bllecl _ _ ...__ 307, \'nn Steel _._ _ __ 1_'_l/. Warner Bros ... _ _._ Warren Bros .__ _ West Union _ .___

liao; 30'/__ .1 Wi 3

37| 241/4

Air li-:d .__ ___ ___ .__ 112% Allied Cllflll _ 1111 Allis Iilmllll .__ _ ..._ 1-1% All Ito( .__ _ . _._ 22% Amer Clin ___ ___ ._ 11051 A Cnr Found _._ _ __ 13 A l-‘on Pow ... _ __ 2%

Loco .__ _ __ Ji Pow Light _._ _ _ __ 2’/fr limi.. _ ___ 1'-"_A i~'|ll4‘i| Rfg, _._ _.___ 35

Am 'lv-\ 'roi lofi-'ii Am '1‘|>l\ Il .__ __ 80’/¢ Auuchnrln Pop

Ai<*l_\l.'o|l _ Auh Aulo _._ _ __ 10% llald I_ur~o _ . ._ 1% nun ohio ._ Nil liurn A _ ____ tl n.-unix /ii-hnlnn 11\'.~'_ lmh .\'|<-vi __ ;‘n‘~1_ ilmrlrs _ ‘.'T'i'n i\_\ -rs A iii .__ _._ 1355. llurr /iilii _\lJ|ch _._ ___ 1-|03 Yun 011 _ _. _._ ___ 'Milli l`:vi\ llry Gin Ale .__ __ 100', "nu l‘n<~ _ , __ ._ init

Ill [II _tru Am Ani Arn

ea °z E?

l`||~\‘ 'l`llrv8|l ... _ _ _._ 52% 4'.-| rm.-p _ 2| l‘l»r|\ Suu _ _ ._ "ii 1'__h_: Nulrn ... . ((014, <li--4 uhh. _ __ __ :ls "|v"' Xorih _ _ __ !i‘_~'_ i'h"_i'i~i~-r .lint (‘i||vli\\|l `1'i .__

\\l\

ik-inru tins lillvc _ 4‘um ,<__1

_ _

“_A-lr? `~$ ~l*- sig

_g»=5E;q =§‘~.<_< =`»zf‘f'~_f

uni mm Vi-_i ml _. _

\'_»|\ |':i\\ ___ _

i'.»rh l’m<l

liol lliill ... i-I I l\\|N»nL _,,

iinnt Knrlnk ... .__ .__1

idler: .\uli_ I_li\~ ._ ' -1~1- fl_\\t ._ . l-:rio H0." ._,g_‘_, _gd l~`|rnt Nail Storrs ._ 41) (lon _lalihult ... .___ 1-I ilm l-Ili-4' __ _ ._ 223'. “"0 Viivill .__ .__ _ ._ 2i|'A_ Gen Mot _._ _ _ __ 214% llnid Dust ... ,,,., 1i\=_\; Ufnulrivli lfuh _._ ._ 815', u““‘l1'cnr Rub .__ ____ 10 ilront \\'en| Sugar ___ ._ _'ll lfoilslnu Oil _._ ___ ___ 12% liuil _\lnt ... ..._ ___._ 8% "' l|='\‘ -__ ...... 3'. lnil Nh-kcl _._ .‘--..._ 131|/Q ""1 'r--I _ 1 -lphna lilun _._ _ _ _ ._ 42' §““‘Hi-"lf»r ._ _ __ 1.1,' ""“ Uni _.. ._ im l_n|nl_r~rt»(?o _ ..._ 2152 Us ~\\>'~-rs n _ _ ._ Jour I-can-u lu.-orp _ ._ £41030 Wllcs Big _,_ ___ l<‘l\rea|\on Tir, ___ Muck 'rruck ...._ ...._ "Nh Alknll ... ... , __

Elsa Pnc ___ ___ °"° “uid _I_'.`

Nagy _ Natl mst- ._ _._ ._

Nm if" 11')-3'~'v"r.l‘S.if’." .::‘

W Haven __ N" Yilrk Col “Wh Amer _ NM-th vnu N: - _._ _._ “wk M0' U. ..._...-____ {_‘;=nmrl¢___|1i‘ ,*:;;}__}~_7~__..f 1:: hm corn 4,, mph _dmv ynlfga sm:

c°_°f_\rel_r_ _

Vu _.'_.

221 13 it __-if 4 13 10 14

4 mv. ill 14 ‘i 1’/| 11 fi"

112% 1.14 1~llb 22% 110114 13 2% 10% _ 2% 1 2 :lo 100% so n‘A :lo

1§l‘»£ _-Zz o la'/, Law, 21% 1311> 14% nm loaf

10% is-:fll

1 21%

:nik WIP .nfl

;sfs;c,.s‘ssee_:;_=s @i§12§= #rbi $;F;5;€ $11 st

8 _ mil si 12% *lb ar ‘.4 2s v 42'/_ I2.- 21:2 Jos 35% am ouu

ith _.22 23% :ut

:B554 i_\-ls-4 -¢\:»-o

-:_A _-‘_-1-:_»a::;._»_:§;

;rs~_,es~ ;_;=.-I Sami!

A at

Welt Elec _._ _mtg Wnol\vo|-tb Co .__ _..._ 54%

Worth Pump 15 Yellow Truck 8

_____._.;_ _

url.. CURB,

_'ill 54% 15 3

(Johnston old Wahl)

Lest

5% 10

Stocks Owned

Besubnruols _ 5% lirsvv Cow Pfd .__ 10% Chun! luln Oil .__ 7% Dill gui ___ _ .___-15% Dom Stores 100 Ford of Can A .__ _... 28 Green Btabcll ___ ...__ 40 hup on . mi/_ Imp Tub .__ -_ _ _ ..._ 127| Intl Pct. __ _ . ____ 29% hlelchcrs A _ ._ 8 __ Ncranrla ... _...__ 3400 8500 Tech Hughes _._ __.425 420 \V.ulker (lend ... _._ 27 27 Walker Brew' ... ._ 500 300 Wright Hur _._ .___ 975 975

PRODUCE

7 15 0

mggish

MONTREAL, Mulch 10--A heavy

dccllnu in egg prices lcuturcd ins; \vcak’| trailing on the Montreal dairy and produce market with prices sl much as slx cents A dolen lower than tho prcvinul week. Graded shipments in csrlotl or len were lfcnerslly quoted at 24 con!! A doueh for A- large, 22 cents for A medium, 20 cents for A bullets 18 cents for B- lsrge, 11 csntl for ll medium and 10 coma for C. Receipts for the weak were 0,317 caves against 0,310 cuscl the preceding week.

0h the butter market no 1 grads

In carlots on len -ended the wack at 25 fcntl A pound. down 46 ol A cant. Bolldl were 20 cents and prints 27 cents. Offerings totalled 1.404 boxes. abou; 1,400 more than lbs previous

ok.

WDNO. 1 Ontario ehsess continued lt

11 to 113 cents a pound for fal1_ mike and 5( to 12|/| cents for lum- mcr lines.

ec no 2 while potatoes leld

fo(-Julersbio rin'nn_rn or-r -“fi hound his and no 1 un-nnluilm fur :ill to _-oy\¢g_ Now llruns\\~l¢-k* luoillitnlns were 51 in 02 cents and Prince Ed. ward inland mountains 00 to 05

cents.

rrsancml-luvlsrola molx

0'y|;A\VA, March 10-A decrease of

one point wal shown in the invoc- tora wclghied index nombre: of ut- ,,__1¢, pm" for the week ended March 7 compared with the previous week, ins Dominion bureau o Statistics re- ported today. The index ll computed on the hnsu 1020 eihualn 100. 'rho lmii-'lr for s three more of

_-onrmnn clocks combined was I .I le ,.,,,,,|,,,|-N1 _yuh S8 8 for the leovieue week

" __ |u_h-1 or industrial eonmea

__||{_~'irs no mo as eelboerel with

ws 7.

| .1 f rl meatls utility oem.

nifllfrhostolbkvizl 4% \ ll 0_ll‘DlN‘

_:$3 “z=,‘£;_.

1."

"th 48 1. “"l'|n- index of common ltooll of .___ ...uh-_ l.-r-med abroad ia wk k

i‘f._“f*.`“‘::‘.::.:t:"l:__i'°rs°r° 'L

(Calmdlun Press) ‘i

Beattie-_._ ._ _ _ ._ _ _ ____ 200

Big hllss _ _ _ _ ... 3122 Hobjo _ _ _ _ ____ 28 lirulcrae ... ___ ___ ___ .__ ...B25 Buff Auk ... _ _ _ _ _ ___ 801 liuff Can _._ _ _ _ _._ _._ ._ 1% Cal Oil . _ _ _ _._ .__ ___ B can Mal _ . _ _ ._ __ _ ___ 70 Castle _ _ _ . _ __ ...._ 02 Cell Plf. _ ___ .__ ___ .___ 158 Chem Res _ _ ._ .__ _____`100

Chlboug _._ _ _ .__ ___ Columario _._ .__ ___ . ._ ,... Conleruul . _ _ ... _.___ Eldorado 1.. _._ ___ , _ ._

li' Brldg; ___ _._ ___ _.___

22 15 225 122 885 157 16|/Q 9 11% 0'#

Gods Ls s ... _ _ _ _ ... ..._ (ioldnls ___ ... ... _.__ Goodfish _._ _ _ _ _ _ _ _._ __ Granada _ _ _ .__ _._ __ ilrundoro ... ___ __ ureene . _ .__ ___ _.__ Gunnar ... ___ .__ ...__ Hnlcrow _._ _ ... ___ ___ _...

liarken Hollinger

Howey ._ _ _ ._

J M Cons ___ Kirk Cons ... _ _ ___ _._ _._-_ Kirk Lake _._ ___ _ _ ____

Lnmsque 5 Lee Gold ... .__ .__ ___ _._ 41( Little L la _._ ... ___ ___ _... |05 Mahan _ _ _ ... ... _-.248 Man lilslt ___ _ _ ___ ... _.___ 4

_biopic il _ ... _ _ ... ___ Mcntyrc _ _ _ _ _ ___ __ hlclfeulie ... _ _ _ ___ __ llchflllan ... _ _ _ _ _ ___ ___ Mcvlttle .__ _ ___ _._ ___ iiicll/alters .__ _ _ __ _..._ Min Corp _._ .__ .__ .__ ___

hlonetn .__ ___ _ ___

Nlpisslng ___ _ __

Ncrnndh ___ _ _ _ . ___

01| ._ __

an ~l “canons eo

9 r

.__ .__ _._ _._ ___._ ___ ___ ___ ... _.___

_ _ _.__ ... 95

19% 5 57

1 ~ ___ _-. .__ _._

8_ _ 1138 120 21 N 205 90

_... 14 __ __ 235

3500

Ulgn __ _ ___ 4

l'uyu|nslcr _ _ _ 111/5 Pet Cob ... _ __ _ ._ ..._ 2K

Pick Cro _._ _ _._ _ _ _ _ .._24l

Pioneer . _ _ ___ _ _ __ 1000

Premier ... ___ .__ ___ ___ 154 Pros Alr __ zso

Quemont .__ ___ ___ _ _ ___ 3%

Reno Gold _ _ _ _ _ _ Bead Auth _ ... ____

Roche _ 046 iloyallte .__ _._ _._ , _ ... 2150 Ban Ant .__ _._ __ _._ . _ ... 470 Shiep Cl# ___ _. ___ . _ _ __ _.110 ‘ Shsrrltt _._ _ _ ._ _._ 45 Biscoe _._ .__ _ _ _ ....812 Sou Tlb ___ _._ _ _ 12 St Anth ___ ___ _._ _ ... _-_ Ill Bud Coal: _ _ _ 10 Sullivan ... ___ ___ _._ __ ...__ 'I3 Bylvshite .__ ... .__ '13 Tack H ... _ _ _._ 420 Tenn Ce .__ _ _ _ _ ... 05 Boburn .__ _ _ _._ _ _ 185 Tawngmlc _._ .__ _ _ _._ ... 24

Benson _-_ 28*/_

Ventures __ ._ _ _ _ _ ._ 95 Waite Amu _._ ___ ___ _... 55

Wlyllde .__ .»_ ___ ._ 14% \VIlzsc_v 1: . ._ 5 \\'r\xm H Ymlr Y G _ _ _._ 11

Sli _._ ... _.__ Taxi' nice B01_000. M”

rmmsnn _

Alderman ___ ___ _ ._ Brett Tr .__ ___ _._ _ ._ _

Irownles .__ .__ ... ._ - one Kin. ag. fha lun' _._ ... 51,5, l Dsl oil ‘.0

Dm lick I ___ ..._ *lt Cn .__ _-_ _._ ___ Bilbao ___ .__ .__ _.1 _ _

§ome Oil ... ... .__ __

irk Town ___ .__ ... _

gg Ill- ___ _._ ___ _ _ .__ __

l0ro _._ _-_ .__ .__ ___ __

llllrobis _ _ _._ .__ _._ ___ lfabccd ._ ... ll' Hawk .__

140 81

e__=-_r..“»s*”;c~

&l;M'\;v‘\ _._ _._ nn rnii' 2"_§`;' .1 "

_jeu

__ _

Mt ’l. S to ck Exchange

(Quotations hnlnlad ey .lehmnu

and Ward members ef the lnntred Btsok lxchoege, Kontron! Curb In kef, 15| llohmeld Mud. Chu-lotto town.)

Stock: Opened Lui

Bathurst A ___ ... _... 51,5 l'_ Bell Tel ... _._ _... 182% 182 Bra: T L Paw ___ ...__ 8% 8 ' B C Pow A ___ 25% 25

B 0 Pow(B ___ ___._.._. 8b

Can Cnr Joni _ ._ 7% Can Cnr Pfd _._ .__ 14’ Can CelCou1 __ lil

0:11 Cam Com 6 C n Hydro Elec Pfd ._ eva Cln 7

Can

us _‘#0

_gélf ‘i 10 o

131

4 1° _tl _li

Ind A1 A

Ind Al B _...__ 7

Can Pac 10% Cockshut Plow ... _... 01,5 Cc! Smelt _ 132% Dryden Pspen _ 4 Dom Bridge 25 Dom Coal PM _____.1l0

Dom Bteel Coll B 4% Dum Tex Com ...__ B0

gen Bteel_\\’ares __ 4? ysum 5 H0111 Gold Mines .__ 1705 Intl Nickel .___ ___ 23 ml Pow an Like of Wocde __ 11

4% 147;

1Tl5 28

Massey Harris __ _ McColl Front ... ...._

Mont Pow _ . ... 80 Natl Brew .__ B85( Nat Steel Car _ 15 Power Corp 8% St Law Pfd ._ In

Blnwiaigan 101,;

IAIKI

Commerce Montreal . _ . ___ ... .__

§ov|lBcoti\ .__ ___ ...._ *Uk ... _...__

Bank of Canada Iwu

2 _iii 80 S8

1a 854 rm

IN* '

162 50%

Markets At A Glance ,

(Gillian Droll)

Tomato and loner-eel-Industrial

stocks closed lower.

Toronto lflnco-I/ofw-an. New' York-Stocks llightl lower. Winnlilel--Wheat down My to 40. New York-Cotton and rubber

lower; sugar and coffee uncinn ed.

New York-Cauedinn dollar gown K to 0015.

EX CHANCE

(Canadian Press;

NEW YORK_ Merch 0-Foreign

exchange lrnguler. Great Britain high 4.78; low 4.71; close 4 77: ui)- dsy bills 4.7055; France 0.01%; Italy 841; Belgium 28.02; Germany 40.75; Canada 99%.

GRAIN i

(fklullnl Press)

WINNIPMG, Mlrch 10~Lovra1\

wicca lt Chicago dragged on lbs

innllzeg Grain Exchange Saturday,

n hai-buried nlly in the u»nion'| cloning ltlgss nrvlng only to lift vnluu fractlonally from their law

points. _

Futures cloud 56 to 44 cent lower,

May ct stiff and July 5355 csni|_ Heavy leilng lt Chicago, where Ulleel were off Z. cents. lollowod weakness in sioc markets.

Contributing to the local eslinen

was a hail in the flow of Canadian

when out of the eonutry_ 'practically no when being sold Satur ny. Trad-

lnf was quiet generally, ll was the Lverpool market. where futures close 'Ad lcwsr to an much higher.

Cash sm! course groin: sbowvd

little change.

CHICAG lhrch 10-To I notable

il.-::rr\e, wenknru that developed in g\,|lh markets yesterday resulted |‘rnn| hearlnh nclluu of ilcciillilel Ind ull lull ti n

4_‘| i\\\_ Ol|lP\‘ Y \'0 0 _

Sr-_:tiered lqulrlsfing anlel were ll

fr-uiurn ln all the Thin pltl. On iha| \\'h|\l»-_ trndc sf-ut ment wll moral Z_l‘_`_"__""W*‘W"'““°‘W’“”'”W"‘ \‘cnd Ore .__ _...__ lil Pore. Cro _ 5% Robb Mont . _ _ __ 2115 llterlll ... _ _ ___ . ‘.'_ 5

Bun Mines _ hu, Yl¢l*I!I,___ _ ._ ._ _ ‘

Tobacco is universally conceded to be one of NaZufe'.r"jin.est

gifts to mankind. It is a gift that man cherishes dear1y,'

/°""§`

because of the comfort, the solace, ii: brings to him. It induces

and disseminates a rare sense of peacefulness_ It is ln truth the

very essehceof peace.

; .

Indian tradition associates its earliest uses with the pro-

motion of peace. When the Great Spirit had to be propitiatedf tobacco was the favoured form of peace-offering. When warring tribes came together to settle their differences, the pipe was the pledge of fidelity, and the seal of treaties.

And down through the intervening yearsfit has been around

this note of peace, of soothing tranquility, that its virtues have had their highest meed of praise.

T. C. Haliburton (Sam Slick), in his“Clockmaker" sketches,‘

eulogized tobacco in those terms: “The moment a man takes to a pipe he becomes a philosifer; it's the poor man’s friend; it . calms the mind, soothes the temper, _and makes a man patient onder trouble. It has made more good men, good husbands, kind masters, indulgent fathers, and honest feliers than any

other blessed thing in this universal world."

The pardonable exaggerations of a. devotee? Not at alll

Underlying every one of these claims of tobacco's beneficence,

peace of mind.

suv'

.Wi

41 ug

there is a solid foundation of scientihc fact.

Ask your physician, and he will tell you that tobacco does

soothe tensed nerves, docs relax tensed muscles, and that in so doing it doesrninister to your physical comfort and to your

As purveyor to the public at large of tobacco in all its

forms-cigars, cigarettes, pipe tobacco~this Company finds cause for much gratification in the thought that every day it is contributing to the comfort, the contentment, and the happi- ness of millions of Canadians.

As Charles Kingsley so aptly remarks in his novel

Westward Ho!, tobacco is “ _ _ _ a lone man's companion, a bachelor’s friend, a /mngry man's food, a sad man's cordial, a 'wakeful man’s sleep, and a chilly man’sjirc.'f

IMPERIAL TOBACCO COMPANY OF CANADA, LIMITED

pessimistic than has recently been the calc.

Wheat closed unsettled, lg-7| net

lower, May 05% to %_ corn uh- enrnged ro 155 down. Moy sl-silt.. ones 1,4-lg ofl_ and provisions, show- ing 5 to 25 ceais decline.

Miscellaneous

(Cumdlon Plan)

MONTREAL, Alai-uh 10-

Wheat nor no 2 B3.

Blrleé C W no 1 51.

0|¢s W no Z 53. Oats C W no 8 40. 0|tl C W no 3 45. Oats tesd no 1 44. Flour spring wheat

$5.40.

Flour seconds $5.00. Flour bakers $4.00. Flour winter wheat patents choice

$4.80-to $4.40.

Flour white corn 15.70 to $5 00.

Bran ton $21.25.

Shorts ton $28.25,

Middlingc ton $82.25.

Rolled oats bag 00 lbs 33.05.

Bly hc 2 per ton csrlots $14 50.

Cheese, no 1 Ont fall 11%; to 11%.

Cheese summer 115( in 1' 55.

gulls; ao aio. A 1 ‘ M gg: n ca one snga

lllggs A 1 medium lil. Eggs A 1 puliets 30.

Eggs A large 80.

Eggs A medium 28.

Eggs A pollen 27.

Eggs 11 urge 24.

Eggs B medium 25.

Eggs C 21.

Potatoes Que no 2 whites 45 io

suoboo no 1 mtl 50 to 55. B mis no 1 51 to 02. Pllllmtonoldiliodu.

wnaulln 1':-ou)

NEW YORK. March 10-im|~x nf

15 staple commodlgy Drlees (Dec. Ill. 131 equals 100; 1 10 average equals

-_ 5).

'rndny 155 1 rev day 157.1. Week ala 151.8 year nga 130 5. lil_’\.`l high 11400 1085 low IM 0. 11134 llllb 150 2 1054 low 120 0.

1003 lil; | I-lil it 1083 low 78 7

patents, firsil

50.

»~.__.

.__

word Qvher ruten on nnplirulimr

BATH:-2m per word, three Inner

lions for the price of two, strictly rmynblo In advance.

______lf°§.f~_,..__.__._

LOST - SILVER BLACK FEMALE

fox. Ear mark. Notify Geo. Owen, North River. L:mio»s_-ap-ai.

LOST - TIRE CHAIN IN CITY.

Finder please leave at Guardian.

L-5167-3-8-31.

LOST WEDNESDAY. ON HILLS-

borough Street. childs glasses, white frames. Reward. Retum to 280 Sydney ‘B_tree_t. I.-5209-3-il-3i_

.__.__.__»._»~_._ __»________._._._______-_.___

Advertising Rates-Payable in Advance ii

ccmnu ou.__~hu__ loo-:___ 4.- on worn: \\ _-,___-rn .nu |c__»u»rn lo.-slr, llc I nur word; Announcements and Coming I-Jvenu_ tc por word; Clnnnlld to per word: In lemurluxn Notices, 70h prr Inch; Llutl ur Floral and _ spiritual Offer-ings, Cards, slr , le per mime; laciterl of (lnndnlrneg 'mr . ner mehr Nnth-as of Tlmnln and Anprsrlat an, filo. per lneb of 41:. pq _

lllnhlmm (fhurge for any mix-nrtlument twenty-five cellte

_ _

WANTED T0 RENT OR BUY 15

or 20 acres of land with build- ings near Town or Village. Apply “S." Guardian. L-5233-3-il-ai.

WANTED - A PRESSURE TANK

for water about 300 gallons. State size and price to C. E. Gamble, Albany.

L-5235-3-l1-13-15-18-20-22.

For Sale

FOR SALE - AUCIION l'0|lT!~

Five, Bridge and Whist Score Cards. Guardian Central Joll Prlntery. Nov. 1-t_f-

1-‘OR SALE - FARM A1' MOUNI

Albion containing 100 acres. Fo! particulars apply Wallace Brehaut, Alexandra.

L~5186-3-B-ll-13.

FOR SALE - DEBIBABLE TWG

tenement house on Weymouth Street; also two cottages on Brighton Ava. Favourable terms, Apply Palmer 6: Farmer.

L-523'!-3-11-13-15,

NURSERY MDCK APPLE TREES

at csc each. Plum and Cherry trees at 55c each and other fruit or omamental swck at compan able prices. Write for catalogue. F. S. Reeves, Southport.

L-5113 v3 -5-8

Male Help Wanted

To Let

FOUR EOOM APARTMENT T0

rent at 40 Victory Ave.

I..-5212-3-9-21.

GBOCERY' STORE T0 I_E'I`-

Live business. Location one of the beat in town. Apply H. Guardian. L-5183-3-il-:ll

'I0 LET-HEAT!-JD APAR'l`l\1\-INT.

private bath. Possession March

CARDBOARD SUITABLE FOR

lining outhouses. etc.. lr per sheet. Guardian Office. tf_

NEWLY FRESHENED COW. WIL-

llam Erunan, Glasgow Road.

L-5200-3-9-31.

FOR. SALE - STANDARD _ Typewriter. Reconditioned. Ap-

ply Guardian. l_-5106-3-9-31. ii6r¥se”s'cr'nir'a"rs‘”isT°o _'r`r?r`r

ialo robes to clear at cost. S. L.

10. Apply Guardian

MAN WITH CAB. CAN FLAC! ambitious man, unafraid hard work, in “own business" in neon bv rural route handling Watkins Fly Spray,_ Tonlcs, Spices, Ex- tracts. Soaps md Medicines. Es- tablished iseil. Belling experience unnecessary. Farm experience helpful. Car needed. Credll furnished right party. Write im- mediately, _1.R_. Watkins CompIny_ Montreal, Que.. Dept. Z-0-1A.

N-lN3-8-li-18-if

Un \l\lnr|1‘s for DIY!"

l Hardy do Co. L-5100-3-8-Bi

___-" “

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