\ AUGUST 13. 1935

ffHE CHARLOTTETOWN

GUARDIAN

STOCK @170 TA TIONS

Shmmmr

GOSSIP

(a, Johnston nadrmilVas-q-a Special

MORNING MARKET GOSSIP

“EW YORK. N. L, Aug.’ 12—Tbe mnket was active Saturday and continued the advance of the prev- ious day with Steel the feature. There were some minor adjustments made Saturday in some of the stocks that have been advancing rapidly but on tho whole_ the market continued ta cxbihit underlying strength. it p" been customary recently for the market to have a minor setback or eriod of relative stability following are days strength and such a sit\1- ‘mm, no doubt will develop in the next day or- so. However. the break out of a nine day trading area is a strong indication for a higher- mar-

ket. IAlidiBW uuii Co, SUMMARY‘

NEW YORK. N. Y.. Aug. 12~Gold bars quoted in London at. 140s 5d unchan ed from Saturday. New York rchangc reports short pos- ition in all securities as of July 31 totalled 22.039 shnrcs vs 10.042 on June 26. 103th

Bank of ltnly advances its dis- count rats of 41,4, per cent from 31/; pcr cent.

(lent-ml liiotors. "encouraged by the more assuraruoutiook for profit- able development.‘ plans $60,000,000 outlay on expansion, A. l’. Sloan. Jr. President informs stockholders.

California Crude (ill production during week ended Aug 10 totalled 655,500 barrels daily va 552.000 by- rr-ls in previous week and i513, 00 barrels in like 1034 period.

While steel operations advanced one point to 4R per cent last week magaain "Steel" says ne_w commit- ments were in lighter volume and steel makers helicvo current rate represents peak in rise. -

Pullman and subs quarter‘ siitlcd June 30 net lass $413,200 after charges va net ‘profit equal to 17

rents a share in previous quarter and aix cents a sham in June quar- (or 11131. Six months earned t1 cents a share v 8 cents a share in first half lsat ear.

Car-negli- Steel Company's new mill io he constructed at West Hame- abarl. Pa. will he a 100 inch semi continuous electric drive, sheared plate mill. No announcement was made of cost or contract award.

rrlsh Low linlt Up

120.52 127.27 121.04 .07 .1500 35,20 M.“ .23 26.80 20.21 20.80 .80

00.78 .03 Dow Jones.

ind Rails . .. i‘tli l...

M) 20 20 ~10 Bonds . . .

BANOI SAYS

BIONTRELA. Que.. Aug. ll-Jlatur- ds,v‘a extension of tbs advance on turnover of 1.210300 shares with a new high in the rails confirmed the view expressed in my Saturday's letter that the mar-ket had overcame rm-nt opposition to the rails and that the market would resume its upswing. I realize that there is some lmalzer attached to uhying st tho market onre stocks are in a relative- , high area. Prices, however, dis- piay'an exceedingly powerful under- tone and therefore ii: is not inadvis- able to assume t‘; riaks of byuing on strength and adding further to present positions when the market developsa minordip. Issues which may be bought here include Gillette. lntl Tel of New York. New York Central and Montgomery Ward. On dips buy U. S. Steel, Del and Hud- son, Pennsylvania l‘! R. buck. Cons. North American and Am. Waterworks.

Montreal Power is now in a bu“ trend. To present positions estab- lished lower down, I suggest that you arid power at the market and on minor r ips,

Barlon.

Scars Roe- '

l nanrso Larrnn. Saturday Afternoon

NEW YORK. N. Stacks rose further and the aver- ages got up to 128 52. As yesterday they should go 133 during the next three weeks.

American Wollen pfd has I56 in back dividends due and I expect a very sharp advance in it shortly. Buy on any dip.

Amsric n Waterworks which you should h ve bought below 1i gained another point and I expect to see it 10 points higher. _

American Power and Light six per cent pfd to which l; predicted 50 rose 4 points and near 50 it will he high enough. - -

American Foreign Power 7 per cent pfdsoldabovewthe figure I predicted when it was 14 and 10. We took about 1-1 points profit. which was much too soon, as the expected reaction did not materialize. I ex- pect to see it also sell above (i0 later. Nickle Plate pfd can he bought ar- ound 2i.

Texas Pacific R R is still very cheap. lvestcrn Union still a buy if it reacts to 40. Collins and Aikman b11,v it below ‘Li.

lieggel pfd cnn he bought if it r-cncrs near 32_ Case can still be bought on any quick dip for shout S6 Ilohn Aluminum sold above 40 and I expect to see it around 55 no" a

U. S. ind Alcohol at 41 to 40 sold at 4-1 keep long. Natl (‘ash Register still a buy on- dips. lntl‘ Tel and Tel, if long belt-w 10. buy more near 11. Ceiancso which you should have bought. back where you sold it. when l recommended it again last week. sold at 30 and will probably go 6 or R points higher still. Union Carbide may be bought if it. goes below 6.’). in short. barring moderate setbacks of n point or so, the trrnd should remain upward and

1.. Aug. 10-

recommended

the rubbers should make a good showing. _Baring. I Mrscellaneous

(Canadian Press, MONTREAL, Aug. Wheat, nor no 2 S8. Barley C W no 3 49 Oats C W no 2 53. Oats C W no 3 441. Oats feed no 1 Flour- spring

$5 30

45. wheat patents, firsts

Flour seconds $4 00. Flour bakers $4.00. Flour winter wheat patents, choice $3 30 to $3.40. Flour white corn 510 to 5,30. Bran ton 21 2S Shorts ton 23 25 to 24.25. hliddlings ton 2825 to Z10 25. llollctl oats bag 90 lbs 326 1212:; no 2 per ton cariots 11.00 to

Cheese no 1 c\1r Ont 10% to 101,5. Cheese no 1 Que 9M tn ‘ll’; Butter no 1 20% tn 20%.

Eggs in cartons A 1 large 3i, Eggs A 1 medium 30. '

Eggs A large ll

Eglfl A medium

Eggs A medium

Eggs B 20.

Eggs C. 22. Potuteca new Que 80's 30-35

Ma rk ets A t A Glance

(Canadian Press) Toronto and Montrcuh-Stocks ir- regularly higher- Toront Mines-Lower. New York-Stocks slightly higher. lYninipog-ivhent down ill; cents. New York-Cotton and coffee

lower; rubber and sugar higher.

advertising Rates-Payable in- Advance

Central Guardian lecula, 0e per word; Western nnd Eastern locals, lo

par war-d; Announcements and Coming Ivania, lo lo. per Inrilr In Iemerlnm Notions, ‘mo. per inuin

cs Inn-d; Clanulilrd lafa nl Floral and

Spiritnnl Offerings, Onrda, 010., do. pig name; IJIMII of Cundaieneg 10s,

Der lash

nerd. Other rates on nppllnailon. Inlimum Charge for nay advertisement twenty-live colts.

i Notices of Thanks and Appreciation. 70s. pea use) or u, ‘q

35751-30 Dar word, three laser- tlens for the price of two, strictly yiyabla in advance.

To Let

TO LET— SEVERAL APART- meats. 0811288-11. L-SOOQ-S-IO-Si.

r0 rur-couracr saves aooiu house, radiators, grate. Apply Guardian.‘ L-90i7-8-10-3l

r0 naiumasriziiniT-riouss: in good locality. Central. Write J. M. B. care Guardian. L-9023.

r0 LET- nasmaana: nosin- ence. Also rooms. Apply 70 _1-°11IW01',th Ave. L-aooa-a-io-ai.

I0 LET-ONE 0F THE MOST. Dl- sirsble apartments in the City, 161 Prince St. Apply Dr. Heath Mo- lntyres Oflice, 14o Richmond st.

11-8995

S8168 H6ip—- Male or Female

people, men and women. spare lime. to handle our line of Per- sonal Christmas Cards, featuring

_ the following outstanding items,

fourfold pastel tint parohments. sravurs etchings, many out-out "ills cards with tip-on pictures, atraotive calendars. humorous cards, envelopes with wallet llap llylo. fancy lined and decorate’ to match earth. alaborats uu of sold and silver designs with bril- liantly coloured inserts. Dainty initial cards that are new and clif- lmnt. Seventy exquisite numbers

to choosy from styled one form squirm with handle. ices start It one dollar doaen Liberal

commission. was. Premier m Guild. 309 Cutie Budding, Man- iml- u-auso-s-io-u. 11-10.

as l r1 da- bimk and white for hand ‘ ‘profitable pastime.

For Sale

FOB SALE-PIANO. APPLY 202 Euston Street. Li9046-B-l3-3i. FOB SALE, — HEAVY JROWN Paper {lllfdlbig for placing under

rugs, e. c. Guardian Office. 3-27-tf

FOR SALE-SEVEN ROOM HOUSE with bath and garage. Apply. 172 Sydney Street L-9045- 8-31.

FOB BALE — AUCTION FOBTY- live, Bridge and Whist Scon- Carda. Guardian Central Joli Printery. Nov. i-ti

LUMBER — BOARDS, SIIINGLIS, equalling. lathes, lobster trap sills and bows, lowest prices. Clerk Bros, Mt. Stewart. 11-8412-7

-..__.____.x_i..

Maigi-ielp Wanted

APPBINTICI W A N ‘if I D T 0 learn Barber Trade. Short Course expert training. Molar Barber col- lege, Halifax. 17-856.

Sales Help-Maia

WEAR IVER BRUSH 00.. II- quires men over 21 for soles and service work in city and surround- ing districts. Must be well recom- mended. no bond foe required. Writs 182-194 Main street. TM’- onto, Ontario. 17-3548-8-12-41.

--—--—

Miscellaneous ~"'“i.

was nor raua aovasrsdl . of the much lam! 111""! "W1"

ed h purchasing a Illlllllkllfi ‘ th Sun Life. Costa mm t’ m a investigate. S00

you aothins to .1. a. 1a re Currie sou g “f... £5 annex swamp-muons!- rgflm a and new business

Firm Trend“ 0n New York Exchange

.__.__._.

By Frank MaeMlllen, Associated Press Financial Writer (By Guardian's Special Wire) NEW YORK, Aug. 12. — Shares changed hands in the stock musket today in the greatest volume in more than a. year. Rails had a. brisk ap- tum, seconded by a. number of the ‘utilities, but the industrial group lagged behind under profit taking. The tone was steady to firm at the close but most prices were or"! a bit», from the beat levels of the day. The market's performance appeared best classed as of the churning vari- ety, with hesitation clearly apper- ent in a good many recent; leaders. Turnover in the Stock Exchange. at. 2,434,630 shares. was the most: active since July 26. 1934. The As- sociated Press average of 60 swcks advanced .1 of a point at, 48.7 to a new high for 1935, replacing the 49.6 pee-k made Saturday. The i5 rails used in the compilation rose .6 of a. point to 26.3, while the industrials were even and the utilities s. shade

better.

Moderate declines were registered by U.,S. Steel, Bethlehem and Re- public, while General Motors and Chrysler dipped in the auto group, and Case and Caterpillar were lower among the form implement makers. International Harvester, however, improved a little.

Meanwhile, s. number of active rails rose fractions to s. point or more to the best levels for the year including New York Central at 271%. Pennsylvania st 281/1, Baltimore dz Ohio at; 15% and Southern Pacific at 20%.

America-n Telephone was active oi; a new high for the year and closed 2% points up at 137%. Other utility issues ended about steady after short trips into new high territory.

Ln the Canadian list; losses of point occurred in Hiram Walker, Ford of Canada "B", and International Nickel Preferred while fractional re- cessions were recorded by such is- sues as Dome Mines, McIntyre-Por- cupine, Noranda, Distillers-See- grams, Ford of Canada. “A", Hailin- ger, Imperial Oil and Lake Shore. Canadian Pacific, Dominion Stores, International Nickel and Canadian Marconi were slightly higher. St. Regis Paper preferred advanced five points.

augymw

(Canadian Press) MONTREAL, Aug. 12—llritish and foreign exchange in relation to 1hr- Canadian dolior as compiled by tho Royal Bank of Canada closed today as foilo\vs:-_

Argentina peso .2080, Australia pound 3 0787 Austria sr-biiling .1007 Belgium heifa .1005. Brazil rniircs 053T. (‘bins Hang Kong dollars .5216. Denmark krone -%. France franc .0006. (iermany reichsrnark .4013, Great Britain pound 4.0840. Greece drachlna .0 . l. iloliand fiorln .0700. lluagar-y pcnrro 2067- lndla rupee .3708. ltaly lir Japan you 20-11. Jugoalaviu dinar 0232, New Zciliaurl pound 4.0187. Norway krone .2305.

r. b

Poland zloti .1000. round -i (N584 .1391.

Smith Africa

Spain pcseia

. Sweden krone lo

Mt '1. S to ck Exchange

4 h, - and Ward members of the M0114 real Stock Exchange. M0111"! Curb Market. 156 Richmond Street Charioiieiowni. , .

,____ sump. Opened Lnat Bathurst A 7% 7% Ben Tel __ 1297i 130% Braz T L Pow 71a 3 n c Pow a 261. 26% 13 c Pow B 41/1 4% Bruck Silk . 16_ 16 Build Prod 3021. 3024 Can Car Com Til 7/1 Can Car pfd 14 _ 14 Can Cei com 2Z5" 22% Can Cem com 5'19 5% Can Cem pfd . 56 56 Can Hydro Elec 53 53, Can ind Al A .. 9 811 Can mo a1 n "d; 1% Can North Pow Z2 22 Can Sac . . . . .. 10/1 10% 001.5 Smelt 1'11 1'71 Dryden Pa",

Dom Bridge

Dom Coal pfd .. Dom Glass Com

Dom Steel Coal B .. 5 5% Dom Tex Com 68 6B’ How Smith Pap 111i 90f Intl Nickel 28% Inti pow pfd 45% Massey Harris 4V4- McCoil Front 13 Mont Pow 33% Natl Brew 36% Nat Steel Cal‘ 17 Power Corp 951, Queb Pow 151v St Law Corp 95 st Law pfd 51/. Shawlnigan 1315 Sher Wil 131i South Can Pow . l2‘.~'.- 12% Steel Co Can Cam 50 50 Win Elec l"- l“? BANKS ,

Commerce .. 140 Montreal ...

N."- Szotia. 270 Royal . . 1441-1 144% Bank of Canada 531i 5-‘!

O M 7 ’L CURB (Johnston and Ward) Stocks Opened Last Assoc Brew 125i. 125i Beouharnois I 4 4 ' Bpqw Corp Ccm 2H 2'34 Brit Amer Oil 16% 1655 Can Malt . 3311. 33% Con Parper 90 90 Dis Seagrams 2i‘. 24% Ford of Can A 28 281d Green Stabcli 22‘. 22's Imp Oil 191i 19's’ ‘Ilnp Tob _ 137i 130i Switzerland franc .3287, (‘nited States dollar Y‘ per cent premium. (Canadian Press) Closing exchange ratca:-- At Montreal-Pound 4.98%; franc

011.‘. coats; U. S. dollar 1001/4.

At New York-Pound 4.07%: franc (10315 cents; Canadian dollar 00 13-10.

At. l‘aris-I’ound 74.07 fr: ll, S. dollar 15.08% fr’ Canadian dollar l5 0i) ii‘

in gold-Pound 12s, 1d; u. s lar n9 26 cents; Canadian so 11 cents.

. doi- dollar

Power Stocks Hold Sway In Montreal

(C. P. By Guardian's Special Wire) MONTREAL, Aug. 13. — Inspired by- marked strenglh in the power group, stock prices pushed up to higher ground on the Montreal Stock “ today, volume con- tinued on the heavy side. ‘Transfers totalled more than 22.000 shares. Soft spots were found in the bank- ing section and one or two weak points were also Ln evidence among the textiles. Gains‘ outnumbered losses in both size and quantity. Montreal Power, feature of the market. most of last week, again held the spotlight when it jumped no an- other new peak for the year at 34. During the last 10 minutes it slipped back to 33% where it was up rs 01a. point.

Bank of Canada. continued to sag and slipped 1/.- point to another new i935 low at 253 while Commerce was down s. point to 140. Benque Can- adienne Nationale advanced 11/: points to 129.

Car equipment issues were again active and National Steel Car ad- vanced 5-7 of a. point to i7 whilt Canadian Car rose ‘A st 7%. Can- adian Car preferred was unchanged at l4. Canadian Pacific Railway at 19113. and Dominion Steel and Coal at 5%, along with Brazilian ‘Irac-

w

Dominion Coal preferred dropped it; to a new 1935 low of 161A.

Total sales were 22,977 shares; bonds $71,500.

New York Curb’

(Canadian lzress)

Stxks

Arncr Cyn B . .. Am Gas Elec _, Am Sup Pow Atlas Corp Can Marconi . Cit Serv Creole Petrol . Elec Bond Slnro .. Ford of Can A . . . . . . .. Gulf Oil Pen .. . l-ium Oil Ref Imp Oil Ltd Inter Pet. .. Niag Hud Stan Oil Ken . . . . .. Un Lite Pow A . Un Lite Pow pfd

Inti Fol.

Melchcrs A 81... 81/1, Noranda . 371,-’; 37% Tack Hugh . .. 402 400 Walker Good pfd 177's- l8 Walker Brew . 285 300

mum

(Canadian Press) wlXNlPldl-‘i, Aug. 12-—1lcnrishness

predominated on the Winnipeg Grain Exchange today as wheat prices followed outside nrnrkols to

loner levels Net. losses of ll’; cents were marked 11p a1 tho clns". where August was at 9:11, the day's low. ’l‘rading, hn\\'(>r‘t‘r_ was slnw, with‘ no export sales of Canadian wheat during the xvock-ond reported. United States miilors, active in the cash- grnin market during tho past few ilays. purchased no wheat today. 'l‘\vo-ccnt declines at Chicago, more than three at Fiinaonpolis, Md at Liverpool nnd n u-ut at llucnas Aircs cat-nurtured a sprinkling of selling orders here, sufficient to send values louvr from the opening. Support was lacking.

'l‘r1|1ic statistics offered trailers no encouragement. (‘ash grains‘ were, llllfllllllked in a dull mai-kei. while coarse grains futures sagged with

wheat.

lion 8t 8. were up ii and ii points.

LIVESTOCK

(Canadian Press) . MONTREAL. Aug. 12~0f£er4ngs an the two Montreal livestock! mar- kets iodsy totalled 0.137 head. (‘uttie receipts were 1.025 bead. (‘all receipts were 1,408 head. Calf sales were very active at prices fully 25 cents higher than last Monday. Good quality calves brought $050 with mcdiuul kinds from $5 to $5.75. (Jammon drinkers and light. veals from $4 to fi. Grnaseru were mostly with a range of $3.25 to $3.75.

Good and choice veal $0.60; com- mon and niegium $4 to $41; Ellllfllll.

$3.25 to $3.

Sheep receipts were 2,104 head. Lambs were fully 2o cents higher. When graded good lambrwere sold mostly at $6,715 with culls out at $1.75, an add small lot acid up to $7 with culls out at Ki. A large percent- age of the lambs were sold in mixed lnlg at $0.25 to $4160. Sheep were from $2 to $3.

l-lwes, $2 to $8: lambs, good $0.15 to $7; common $4.75 to $500-

Hog receipts were 13510 head. Hogs were steady with the close of last week. Bacons brought $10 fed and ivntcrod. Selects drew $1 per bog premium. Butchers and heavies were $060 and extra hcavies $1) Light hog‘ ranged from $0 to 50.50. Son's were from $0 to $7 with a couple of hogs selling up to $7.50-

Currencies

(Canadian Press) MONTREAL, Aug. 12—Leading cimrenciea all moved sharply upward on iilnntreal foreign exchanges today. Tho pound sterling ildvanccd 1 1:32 cents at 4.08% while the United States dollar mounted 5-32 of one per cent to 1.00%. The French front! 0.06 cents was up .02 cent. NEW YORK, Aug. 12—Steriing and the French franc were moderately higher, the Canadian dollar lower. in the foreign exchange markets today. The Dominion dollar extended its discount from 1-10 to 3-10 per cent. The pound was 9Q of a cent at $4 01

1,; whiln the franc, closing at 0.0.’! in cents, showed a gnin of .01 of s cent. (Canadian Press) 1 TORONTO, Aug. 1‘.'—~’l‘hc Toronto

mining market opened the week with a mild display of heaviness, showing mainly in tho goldh. Scattered sell- ing appeared also in the silver nnd base metal groups rcsulfllli; 111 B sprinkling of’ losses but recessions were not severe and trading tapered nff as prices weakened, The gold share. index lost .71 to 101.13 and the miscellaneous mines index .74 to 924.15. Volume was don-n to 272,000 shares from an average of about 320,000 daily daet week.

Lake Shore camo out quite actively in broken lots and a loss of 1,1,‘, to 50 was registered. Dome and McIntyre weakened 1,13 each and Wright Har- greaves and Tack Hughes were off ii to 5 coats each. Bralorae held steady to strong. ln the secondary group.Pivklc (frow was offered in quantity and the price dropped 7 vents to 250 but fully recovered be» fore the close. issues closkig 2 tn ii cunts down include dSan Antonin, Venturse, hicwarters, Sylvanite, Siscoe, Sheep (frcek. lir-Rennie, blac- assa and Central Patricia.

amwmz

(Canadian Prose)

MONTREAL, Aug. 12-.\'c\v» Q110- bcc potatoes sold at new low levels foo the summer scilsnn on Montreal dairy and produce ruarkeis today. Uihr-r lines were steady to i'i1'1n.

Quebec potatoes in 80-p011nd bags brought 30 to 35 cents. down lu cents from last weeks prices Sup- plir-s were plentiful and demand good.