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you: 1s. 1930

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Greenshields 8, c5,

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i! firm Gown st. Charlottetown

Stewart Jones 8, Cg,

W. C. PITFIELD & COMPANY

Investment Securities Heed Ofiee: Montreal

_ FREDLBOURKE

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VARMUVE ‘NJIONIU UITAWA QKIC IAINTIOBN DOIDON, ENG.

;'__._

BOND PRICES

yesterday, today and tomorrow

TWO YEARS AGO bond p oea reached their poet war peak. Beginning early in 928 the rapidly increasing interest in the stock marketing-an us arrest this up-

ward trend in bond prices which caused a complete reversal of the movement. For a you and a half fol-

lowing the early part of 1928 the demand for bonds decreased until prices reached their lowest point since 1925. ‘ '

TODAY bond prices have not advanced substantially above their low level o! 1929.

While it is always a good time to buy bonds. present

market conditions are especially favorable for bond ‘ ‘ and may , auch ‘ ‘

confident that the outlook for prieea is higher.

M” we auggest issues to flt your requirements from our well diversified July Ulfering List? A copy will be gladly sent on request.

Eastern Securities Company ~ Ll MlTED W. H. V. DUNBAR-i MANAGER. CHARLOTTETOWN ST. 10% MONTREAL HALIFAX MONCTON SUBDHE RSTDE FREDEBICTON

23C

v a '

n Q \' MB. W. CHESTER. 5. McLUBE Conservative Candidate For Queen's

Mr. W. Chester S. McLuze, Char- lottetown are household words wher- ever foxes are bred or furs sold. He is as well known and popular in the iur trade of London, England, New York, Chicago, Philadelphia, Montreal and Toronto as he is in his native Province. “Chesterfl as he is popular- ly known, has risen to preeminence in business and public life by mean: of sheer ability, determination and enlightened vision. He always has seen beyond the present and worked for the future. Educated at the far- famed Prince oi Wales College, he taught school for a while and then entered business as a dry-goods clerk, ,specdily blossoming into an ambas- Isador oi trade on his own account, ‘ in which he developed a remunerstive business. He was one of the first to see the great possibilitis oi domestic breeding of silver foxes, and entered upon that industry with zest and en- terprise in 1912, at; s. time when most. people were looking upon it as a bub- ble soon to be pricked. Today he is still in that business, known far and wide as the "dean of the fur trade." In addition to owning the Vimy» Fox Ranch in company with his equally enterprising and resourceful partner, Col. D. A. MccKinnon. D. S. 0., he is along with the colonel representative of tile Hudson's Bay Company for which Messrs. McLure and MacKin- non have built up a most lucrative and‘steadily growing business in the Maritimes. MrJMcLure is in public life not so much because he sought it but because it sought him. In 1911 when he was in New York on t. busi- ness trip, the Conservative Party of

MONTREAL STOCK' EXCHANGE Smelters --. |Steel of Canada

Market reports furnished by Green Stsel oi’ Canada Pfd ... ... ... shields & Co. Montreal, to Stewart SImOYl-l --- Jute; l: Co, 88 Great George Street, Winnlpet Bled?“ -- Charlrrtetov-n.

i u- u. .-

Quoted at. closing. July 14, 1930. ‘NEW YORK 510N155“, American Can ... Abitibi . ...’... 25% Allegheny... ... ... ... Alberta Pacific Grain . 14 Anaconda Lbestcs DBendix Aviation - Brazilian ... ... 40'§'C0!1-901ld31lfid G95 i - --- '" B A 011,, ,__ ,,, ... .. 167i_Consolldated Film Ind. ... ... B. c. Power 3'1 Commercial-Solvents -- Building Products .. 22 Dominion Stores Canada Oar 2o Electric Powerdz Light Canada Cement liGeneral Milli!“ ~ Canada Power and-Paper lklnternational H9410 Elw- Canada Brewing .. Bfimternstioxial Hsrvesrer --

Dominion Bridge Foreign Power Securities v

bfiéflfennewtt copper -- 25 Montgomery Ward

... u.

Frans-r Company 8 Niagara 31155071 P°W°Y "' Cweneral Steel Wares ‘ll/tjaramount Pubiix Home Oil .... .... 4.00'P0Ol' dc C0. B. ... --- --- '- Imperial Oil . 20‘6,Penlck&l"ord Pdustrial Alcohol 4% Radio . . . . .. .--

zslflsem Roebuck . . . . . . . .. 18% Standard Oil of New Jersey ~- 25% Studebaker

International Nickel lot/emotional Petroleum . Massey Harris ..

Montreal Power btityellow Truck .

bicColl likontcnac 19 Fox Films

National Steel Car 45 C. P. R. --

Canada Bronze .. 39%,General Motors

Canada Malting ... ... ... .. 16 U‘ S. Steel . . . . ..

Dominion Tar 15

Plmous Players 44 35m“

Noranda 93%

Power Corporation .. 69,B|.nk oi Nova Scotla

Price Bros. ... 63 Bonk of Montreal --- ~-

Duebec Power 55‘4|B8fl\< 0i Qlmmu“ "' "' "‘

Ehawinigon 671.4 Rfiyal Bank

Agflvl QQND PRICES

Abitibi . . . . . . . . . . . . 5% July 1 1953

Beauhuncls Power 6% 1 1951

Bell Telephone 5% Mar. l 1955

s. c. Power . FW-“i ""4195"

Canada Steamship 6% Oct. 1 1941

c p_ R m Dec. 1 1054

c p. n. ...... met mo. 1 1954

Dom. T. s; Chem. M, Jan. 2 1949

6mm,“ pow"- _ 5% June i 1956

G"'neou Power - 5"” AP" 1 m“

Gstlneau Power m, Jur.o151941

Howard Smith 5‘6% June 111953

Montreal rower 5'6 0W '- 1951

Montreal Power 5% Mar.1l9’l0

Montreal ‘iramwaya 5% Jilly 1 1941

Montreal ‘Prunwlys so. Apr. 1 1955

ilontrtsl Tramway; M’? Mil‘- 1 1955

Montrealrramwaya 4W1, APT- 1 "55

Price Bros. 6% Feb. 1 1948

Quebec Power . t"; Dec. 1 1963

Ffiavinigan Power 047's QCQ- 1 1957

Fmwinlgan Power 5% 795- 1 197°

Fwunuin Power 04% lw- 1 I"! May 1 i062

199 5.4 42

36

30

39 7S

126% 23%

49% I

31% 111 19V: 25% 19% 9215 45% 37% 83 38% 35% 1714 491‘:

21 lvictory Loan . tti-lfiyvictory Loan . . . . .

40% 68"; 72% 32"’; 27-31 45 18'7".-

4 163%

315 293 213 290

103 ’4\ 9'!

Queen's County, wired him offering to submit his name for nomination at the then forthcoming convention. At that time he could not see his way clear to accept this flattering ofier, but later consented to run for the Provincial Legislature for the city, {and was elected.’ In 1927, when the ‘ Liberal sweep of the Province occur- red, Mr. McLure was one of the few survivors retaining his seat along with Hon. Dr. W, J. MacMillan, At the [last Queen's County Conservative i Convention, he along with Hon. John H. Myers. was unanimously chosen to carry the party colors at this general election.

A Dutch company is producing nearly one-third of the oil output. of lVl/zxico.

War Loan War Loan_ . . . . . .

i Victory Loon . I Renewal

I Ref unding jftt-funding l Refunding ‘l Refunding l

3 MARKET REVIEW

smaller than in the previous week, a favorable trend WB-s again observ-

Eable in relation to the price level of ‘stock averagm. The drop oi $16.00!).- ‘000 or about one half porcent in loans was accompanied by M‘! 111' crease oi 4.1 points or 2 l-i Powell in Standard Statistics averalle 0f 9° stocks from 160 to 164.9. Following upon the previous week, when a de- crease of about 5 percent in brokers’ loans was accompanied by l l‘!!! 0f about 5 percent in the event's it is considered that the technical pos- ltlon o: the market u improvin! and that. stocks are passing into stronger hands.

During the past five weeks, broker- age loans have dropped almost 8900,- oo0,000 and at their present level of ea.2oa,ooo.ooo they are down over 50 raeroent from the peak of $5.304 900-- 000 touched on October 2nd, 1929, and are at the lowest levels in nearly thrze years.

The decline in commodity prices which has been getting world-wide attention has so far rot materially reduced r:t.ail prices. This is indic- ared by the index numbsi-s made a- vailable by the Dominion Bureau of

clnslua STlitKlETTER

MORNING STOCK GOSSIP RE- CEIVED BY JOHNSTON AND WARD OVER THEIR PRIV- ATE WIRE JULY 12th

MONTREAL, Que, July lz-Csn- ads Steamships common and pre- ferred were outstanding weak feat- ures in yesterdays trading. The com- mon touched l2 and on: has to get back to 192B before a lower level is discovered. The preferred at 38 is a new record low. The halano? oi the list was quiet with changes again oi a negligible character.

The weakness in the steamship is- sues. particularly the psrielrred is due to an expressed feeling on the part of the brokerage firms and the press that the failure of a free movement in Canadian grain with a consequent loss in revenue to the company may result in either a cut or elimination of the preferred div- idend. The last quarterly payment was made on July 2nd so that the nevt one is not due until October

ities in the agricultural life of Queens County. A successful farmer. he has taken an active part in the various orgpnlzations, keen interest public affairs

CHAQLOTTETWWN GUARDIAN 1 ..- '

MR. JOHN H. MYERS Conservative Candidate for Queen's

Mr. John H. Myers is one of the most- popular and powerful personal-

and followed with

in the

(h. '

u... .

'1

i up" l l_

That was eleven years ago. Daddy had not counted on

_THIS little chap of twelve, hawking papers in the midst of the city's mael- strom, his clothes i.n_ tatters,

dying, you see. But he did die-died at the wrong time

1st. In the interval a great dral can happen and should conditiozzs 1m prove as many believe. particularly in the Caandian wheat situation. the company would be able to main-

tain preferred dividends.

The weaknea of the steamship is- sues no doubt affected general sen- timent, the firm tome of New York finding practically no reflection here. Sentiment in Wall Street has born

et to move ahead in recent sesions but oonservafdve observers are main- taining their policy of keeping clients on the side lines. They believe that the market is having a. technical correction and when short covering is completed new attacks may be made by the bears.

Little need be expected of todays short session. Some selling undoubt- edly will be seen and further effort

test out the June lows. Advantage e should be taken of the weak spots c for buying stocks either for quick c trading turns or for the long pull.

The prices for stocks that have been registered on this weeks rally may be the tops for the month but what will undoubtedly be seen is a series of ups and downs with pric- es stopping just short of the June lows and on each recovery rally slightly above the prices seen this week. The market this past week has ignored what a. month ago would have been considered exceptionally bad news. This shows that the trad- irg fraternity is becoming immune to bearish items. stocks yesterday, ignored. for instance, another sinking spell in wheat. A curious frame of mind has developed among Chicago traders. They continue to look for much lower prio-s for farm products but declare that stocks at current levels are not a short sale. '

If you have trading profits take them on this rally and be in a. pos- ition to take advantage of any sink- ing spells that an: likely to develop over the next rro weeks.

O

C

3

B.

awake progressive farmer. the name he is familiarly known by, is of a genial disposition, liked by everybody. He is one of the best in- formed, most resourceful platform improved by the ability of the mark- Speakers i" will“ tvday- His elo- quence impressed both Mr. Meighen and Mr. Bennett when they heard him. One of the

recently described him as “one or the most outstanding figures in politics in the Province today," adding that "there were no heights to which he could not rise given the opportunity." Mr. Myers has been in politics since 1912, when he was returned to repre- WALL STREET M13305 sent the first district of Queens in the local legislature. Agriculture in the Stewart Govern- ment, and 1926 to contest Queens at the Wm l” made m the m" 111mm 9° then general elections. On the pros-

tory. ‘

has reduced rediscount rate to 3 1-2 percent from .4 ptrcent.

quarterly dividends of 87 1-2 cents

B stocks.

May. 1929. Five months $3,380,342 a-

ivc today, will restore gasoline pric- es to the basis maintained lac-fore the gasoline price war started.

ed 428 against 435 previous work of five working days and 490 two weeks

agement to recommend to directors

Province and in the Dominion. Born at Hampton in 1880 he graduated from Prince of Wales College in 1899. Since then he has devoted him- self to the development of “his pa- ternal acres" at Hampton-m wide "John",

leading Liberals

He was Minister of and was mlectkd in 1921, nt occasion he was the unanimous

hoice. along xvith Mr. McLure, to arry the Conservative colors to vio.

-—-—i_-.-. SUMIVIARY

Fbderal Rcsreve Banks of Atlanta,

Radio Corporation declares regular r. preferred A and $1.25 0,1 preferred

Wosttrn Union May operating in- ome $825,914, against $1,322,766 in

airlst $6,331,346. Standard Oil oi California, effect-

Failures in the past week number-

go. Trans American Corporation man-

his eyes eager and shifty, his voice hoarse with shouting —-can you see the tragedy of his life P He left, school at ten tohelp earn bread for his mother and brothers.