‘fl-IE CHARLOTTETOWN GUARDIAN PAGE NINE:

1W5 §I'_O_(7<_T4‘NIDE:O1_£,QQ0 TA TIONS

Stock Exchange

___._.___i.i_.

—- l S TERD a MARKEL GOSSIP

but, leaving fractional gains for Steel Common and Preferred, Allied Chemical, Care, Consolidated Gab North American and Bears Roebuck. Among others American Telephone held hove yesterdays low, helped perha a by declaration of a regular dividend by its llliuoisaubsidisry, and closed had fractional losses. Tobacco: were nearly a iwlnt hleher. lieverai rails firm. Volume again dipped undpp m; half million mark, sales totalling 172.220 aharel.

WHAT ‘III ITOOI MARKET DID

Thu. Wed. 101 130

211 100 100 412 450

i _i

Montreal

Stock Market Quotations

Farm Notes

AN OLD INDUSTRY PASSES

L Cm”, Associated Prose writer-i

g zn-Finaaciai

‘iiltriiout noteworthy

as nnw familiar dail-

IM 1n stock and bond

‘m, ...-mu still iwerlv Ile-

n ,,,,|.port for shares was

hm imag n small frac-

lu the averages.

scanned the news for

at nilght rout the

_ “g rut were disappoint-

Stocks Air Reduction ... . Al Chemical ... n».- Amorican Can ... n. a r Power ... ,.. Am smelt Riig ... .. Am Tel Tel M An Copper High Low Close Atchlson 75 Auburn Auto Byers A M . Com Sou ... Can Pacific .r- Chrya blot

High liow Close 43;)“ 88V; 80 84

The resignation recently of Mr. ll. Horsncll as inspector of potash in Montreal on the staff of the Dominion Seed Branch after twenty seven years service, recalls the long and interesting history o! ' m, the manufacture of potash in Ca- % nada, and we are indebted to Mr. I-Iorsnell for a review of this once flourishing Canadian industry.

..- ..» e ..-

t.‘

' rican Can "' ‘inrllti liifvvgiilrle closed with “marl a siuimiflil "Ti? lili-

"Peping advance was re- nnu, l-‘iual prices, how-

‘ppm under the day's

Number of advances .. Number of declines Stocks unchanged .

"n Total issues traded , .

iii

ROIJUCE

i

l,’ Jina- lid-Some in- hullfir vipUIlii from Mou- 3; llrit ‘n is expected this M, hoing forecast as I iililiillvllitl. The butter siinni su-ndy today. quot- m-pm or l s of no 1 quai- W; "t 101,, io 10% cents liBUuipiS were 80‘! boxes. M] 1|! yesterday’! decline nlly- quoid 91,5 to 0% ccnts ,. and 1H,’. to 0% cents for Km-jpu we c GARE boxes. -- \\' again u little riots or less of On- la-ing quoted 21 to W: d. n for extras, 17% i: for iilsis and l5 to 15% ieeomls in cariols or less. verr l, a0 cases. held unchanged.

‘pany Shows Pr o fi t

AL, Jum- The Sterling W1)", Limited. niid its suh- tuiiic-r lmhlgh (‘onl Company, delved not prnilts of $52,081 heal

| rinus ilsmil year, . (‘lillitlli iit the close of the

$235,500 as compared with |tiho and of hiarch in 103i. [of bonds outstanding w-us 7 nvivwlilrlll of the slnkinl.‘ 500L600 in 193i t0 $727,300

llillilaii rl-uort to ihn sliurc- . ll. lii-Xnught, President,

as of the Conger Lcliigh iiiuiitcd, lu common with i. i-omin-lllors, suffered from. lily mild winter, but lu is umi fiiiu-r ndvcrsc conr. i n-tull furl business rnn- hr ilic best producing div- ur nvciiuizutiou, Rigid ec- hiiaintcd iu tho lust annual . r-sinhlished during the im- enabled the company Insults, which, nil condit- ml, may be ilcemcd full’- ,. u: ,. um products division _ ll; completed the contem- m of pump installations lharvu an increased gallon- rili-‘slou, which rounds out m- seasonal activities, .. ,aa hatter business onu- rn, au fur-rousing contrib- '. rnuipnuyis earnings."

‘ll-Dividends as fol-

June hora today

Ltd-. 0"" payable

EAL. ounccd rat Foundation, ‘ rents per share. io record June 80. irust C0,. 113i per cunt. psy- Zlo rcrorrl Julie -'<l'l.

JED Y ALITNY

AND _ SIZE‘

Stonewalfs value is

Grain Market

WIN N [PEG

WINNIPEG. Juno ZL-Au early movement toward higher price levels was not sustained in the wheat pit today and values saggcd to fractiou- ally luwer levels. Prlcca at the close were ~75 to ‘it, lower.

July eased 95 to 545i while Ocotber and December each declined ‘l, to 501/; and 57, respectively.

The market opened higher on local buying in sympathy with higher quotations at Liverpool. Support, however, soon petcrcd out and prices slipped back to the low levels where they held to the close.

Some scattered export trade was re- ported worked overnight but it was of small amoun. It was a dull market throughout.

Reports were received of further damage to crops by grasshoppers in Minnesota. Sections of Manitoba and Saskatchewan also were included in the report.

The world's wheat supply in liiay decreased 48,039,000 bushels in May compared with 00.014900 bushels in April sud 44,124,000 lu lilny 103i. Cau- ada's decrease was 18.000000 bushels and that of the United Status 14.000 000 bushels. -

Inquiry for high grades of northern wheat featured the cash wheat trade. Spreads on the active grades were s- bout 1,5 higher."1‘here was uo im- proveuieut noted in coarse graia: and values there moved within a rrow margin. _

CLOSE _ lVbcst-Jpuly 54%; Oct 50% to 1,5.

later Nickel r. c w Co mo rfa . M F O C0 ....- M l. H Power . M LHPZlpcdeb. Nat Breweries t

New York Curb

Stocks .\ S Power A 1i Llcc A

lrnpr-rlul Oil Ltd

lu Petrol Mid iVcst Utii Niagara Hudson .- 8 0 of Indiana ... . U L Power A

Dec 5786A. "Oats-July 33%; Oct. 296B; Dec

..'i . Barley-July 38KB; Oct 341i; Dec 31/;-

CABH PRICES

n

\Vhcut—ll_nrd 55141; nor rum; uo .- nor 50%; 3 nor 41%: 4 uor 40%: no 5 4m: an Ii 31%: feed 35%: track 581's; no 1 durum 731,5. Oats-No 2 4- w 331,918 c w 311,5: ex ‘l feed 31%; food 30%; 2 feed 201,5; lrnck 3.1%. .

Barlcy-3 n w 38; 4 v w llliii; 5 c W 34%; 0 c w 311,3; track 3S.

CHICAGO

CHICAGO. June 23.—Uviessiurss over signs of wheat wave northwest point- ing to increased danger of blnrlr rust damage gave an undertone of strength to wheat values iodny.

Rains delaying harvest in tho Texas panhandle were also a bullish influ- encc. On the other baud, wheat ex- .port business at the seaboard was distinctly disappointing.

Wheat blond fidgetty nt the some us _veaterrlny'a finish to 5i lower. cnru at 1.4-1‘. advance. oats unchanged and provisions 12 to 20 cents up. '

BONDED WHEAT

NEW YORK, June fis-Bouded wheat closed quiet. Close: July 40; Oct

Federal Reserve

NB“ IORK, June '23.—-'l‘ha Federal lteaorve Bank of New Xork lolav cut its .- '- nut. rats to 255 pa: rel‘! from ll per cent.

A rcdrtuor. in this rltk-Whlflli la [he rate at which inembe banks may borrow al tho Reserve Bank-Jim] been expected when the Reserve ite- gau i|a vigorous credit expansion pio- grum through buying Unltd rtaies uovernim-rt securities in April. l The heavy outflow of gold from tl-ia country during the~spring months. howuvr-r, tended to offset the Reuerve program. With the gold outflow vir- tually ended when the Bank of Francs completed the transfer of her bal- ances here into gold last week, how- ever, it became feasible for the Re- serve Bank to tslre another step to- ward facilitating the free flow of credit.

("o reign Exchange

EXCHANGE

NEW YORK June Eli-Feral QI- change easy. ‘Great Britain film: (jam-w 3,01%; France 8.03%: ltnll’ 5.0L I‘ Belgium 13,9256; German}! 23.7.. Canada 87%-

MOYPREAL, June 23. (B mm". presn-Jlrltish sud change in relation to the Canadian dollar. as compiled by the Royal Bank of Canada, closed today as fol- i0

the Can- orelgu ex-

ilontreai Market Siiielights

MONTREAL, June :3. (By the Cun- adian Preset-A drop of 1% points in. Power Corporation, in response to its announcement that the current div- idend would be omitted, featured trading today on tlic Montreal Stock Exchange. The lssuo closed at ii 0H o turnover of 200 shares. Amon the more uctlvo lsiiucs a stclldy to slightly iiighcr price trend was apparent. included in this group wcrg hloutreal Power, McCoil Fron- tenac, Canadian Pacific, International Nickel und Gypsum. Brazilian Trac- tlo Hhuwinlgan and, B. C. Power were issues to lose fractlonally.

Total trading slipped off to the io_\v level of 3,408 shares, the ticker ruli- uiug idle for longperloda during tho day. Failure of Wsli Street to provide a definite tread, together with lack of public interest, kept the day's trans- actions to n minimum. Montreal Boner, active leader with 805 shares, climbed 1,43 to 2 and Gyp- sulii, second with 400 turnover, was ‘A better at 3. Canal-lip; Pacific gala- ed 3Q at 10% llldhNiClh-l l,‘ at 47,. Bond sales totalled $17,000, trading being dull and slightly easier. sterling closed at 8.1406 and Unit- od States funds at a premium of 14% per cent,

Jockey llides Bareback To Win Handicap

IDNDON, June 23—(By The Can- adian Preev-Fred Rickaby, l8 year old apprentice jockey. rode Mitts- gong to victory in the Twickcnham handicap at Sundown, alter his saddle slipped so far back that he was riding bareback at the finish. nictnbyb rAddle started sllpplnl a furloag from the winning post and until he piloted h‘a mount by the judges" stand a. head in front of his nearest rival he struggled frantically to retain his seat. Aifter the race, he carried the saddle to the weighing oriclosure to an outburst of cheering seldom equalled at the trackf

Gen Foods

Gen Motors . , Goodyear Rub er lu llarv .

1n Nickel

Ken Copli" Lambert Co

Mlq Pnc Pfd Mont Ward

- »-."”i’.°".‘..'5... i?“ N w$$awg>i~esari<p

Bears Roe South Pac .. Standard B ... G Elcc .... S O of N J Texas Co Texas Gulf S U C Curl) Union Pacific United Air United Corp

Woolworth Co

Mining Stocks

'1'01;0_\"l‘U, Juno gilv-Millilifi sales il

. . .,,'-,,., Mo“ l bow Close

2000 B Holllnger . 0000 Bidgood . . a 2000 Buukerhill . , 200 B u Pioneer 2000 irariara 2000 Castle-Tr ., 500 Coluinaria . 55 Dome . .. i100 Granada 220 llolllnger N00 Howey 'll500 Kirk Luke 3T5 Lake Shore .. 500 liiacussn _ . 3000 llliartic . 325 hicintyre , 5000 liiofluthull . 500 hiurphy '20 Nlpisslng _ 28R Norundu i000 North (‘an . 100 Oiml .. 500 Premier . , 200 Sunantouio 4100 Rherrltt 4121 fllscoe . 500 Rt Anthony 000 Sud Basin . i400 Sylvuuite . 207.0 Teckhughes i000 Towugumac 016 Vipourl . , 4:000 Wrighthsr . Silver - ’i‘olnl snii-s 72,000 shares

UNLIBTED

2000 Fen Man _..., 700 C-Research . 1500 Dslhousie . . 2250 Eidorsdo , 10.100 (loodfisb . . 000 Home Oil ....- .'l00 Hudson Buy ... 5R5 Nick 100 Kirk Hud

,....

2400 Vr-uturea . , . CURB

i500 llolljo , ..

i500 Brett ... , 5000 Brownies . . . 2500 Cen Pat 000 Hilltop , . ... 1000 Kirk Hunt i000 Kirk Town ... (i500 liinlrnblc . . .

Gross Earnings

Of C. N. R.

MONTREAL, June ifL-The gross revenues of the Canadian National Railways for the week r-udcd June 2i were $2,877,320 as compared with $7,440.57?! for tho corresponding per- iod in 1031, a decrease of $572,253,

We offer- - New

ws: Argentina peso ... ,.¢ ... ... 0.2905 Australia pound 33779 Austria schilling not llelgluin belga ... Braail mlircis Bulgaria lev not qouted

(‘hlnn llnng Kong t not quoted Czechoslovakia crown . 013341 Denmark lrrono Finland ilnmark _

"' sliced '

0.1510 0.0870

..,v reichmsarlr .4. Britain pound

Greer-e drachma uot qou Holland florlu ... . Hungary peugo not quoted l/dla rupee Italy lire . Japan you Jugoslavla New sealnud pouu Norway krone Poland sloii . Ileurnauia lcu

' ‘ulted Btafca S 14$’; pc. p miuui.

iioutb Africa Spain peseta ‘Zvveden krone lwltaerlaud fran

WAIBIIGTON, lune ft-Loana to brokers and dealers held b! the New York Federal Reserve Blllll (o; "n “up "min; June lf. werr announced by the Iolerve Board for!!! ll IIMAIOILOM, representing

as com-

Price : 96 and

on a. favourable‘ basis,

Province.

Olll.‘ OXIIQIIIG. _

Saint John .

Town _ or slluurasln: 6% Bonds

Dated June 15, 1932 Maturing June 15, 1952 Denominations 500-1000

to yield over

6.35 %

The Town of Summerslde la in splendid financial shape, and we have uo_ hesitation in recommend- ing this issue and suggest that holders of short term Dominion of Canada Bonds take advantage of this opportunity of exchanging their holdings,

security paying 6.35 per cent. These bonds are a Trustees Investment in this

Orders may s.‘ telephoned or telegraphed at

EASTERN SECURITIES 00., LTII.

W. V. Dunbar, Manager Charlottetown .

Houston lammeralde

Issue

accrued interest

for this longer termed

Halifax

Potash (Potassium Carbonate) is the product obtained from leaching wood ashespthe principal source of the material in former times. The so-callcd crude potash

con‘ ‘ about twenty per cent of impurities. Pearlash is the crude potash purified and containing not more than two or three per cent of impurities.

The amount of pearlash manu- factured in Canada was never large but the manufacture of pot- ash, which was introduced by the early French settlers, grew to be an important and extensive occu- pation. To clear the land for set-

1“ tlement the pioneers cut down the

timber, stacke’ it in heaps arid burned it, and so enormous were the quantities of ashes thus ob- tained that as much as forty six thousand barrels of potash were made in this country in a single year, the greatest production being about the year 1850. The great volume of ashes thus used may be visualized when it is known that about one hundred bushels of raw ashes were required to make a barrel of potash of six hundred pounds. The demand for barrels stimulated the coopering trade and

) contributed to the rapid utilization

of forest products. Barrels were

q made of hardwood and were of an

average tare weight of eighty pounds.

In later years when the practice of burning timber had ceased and when its conservation had come to

be recognized as a necessity, the

-’ potash industry, though greatly re-

duced, was able to continue with some part of its former importance. Farmers would go through the country in winter with their horse drawn slelghs and gather the ash- es from house to house and in payment the buyers would give a. variety oi’ household necessities such as soap, needles, pins, thread. etc. More recently the buyers have had to pay cash because wood ash- es were becoming more and more scarce owing to the increasing scarcity of wood and the necessity of using coal as fuel, even on many farms. Raw ashes have also been obtained from factories which manufactured hardwood articles and used. wood as fuel for steam boilers and kept the ashes so ob- tained separate froa-i other resi- due.

Most. of the Canadian potash was exported to Great Britain and France, the amount used ior do- mestic purposes being only small. Following the development of the natural potash mines in Germany, which began probably sixty years ago, substitutes came to take the place of the Canadian potash, for which reason, and because of the growing scarcity of wood and wood ashes for potash manufacture, Canadian production by 1900 had fallen to about seven hundred bar- rels per year and the decline since that date has continued so that now the output is " ‘ble.

The leached ashes, that is to say the ashes from which the alkali had been extracted, were always used as s. land fertilizer as they re-

, tained from six to eight per cent

of potash. A remnant of the old practice of gathering wood ashes still remains in a few rural com- munitlee. as much for the fertiliz

’ lug value of the ashes as for the

manufacture of potash.

Mr. de Beinie (on being introduc- ed to adored 0R0’! mother): "Par- don me, madam, but have we not met before? Your face seems strangely familiar."

Adored Ono's Mother: "Yes; I am the woman who stood up be- fore you for two whole miles in e. 'bus the other day while you sat reading."

Above All . SECURITY

Established in every city and town of importance throughout the Dominion, the Bank of Montreal has been the trusted custodian of Canadians’ savings for generations.

Throughout the Bank’s history of r r5 years, safety has been a watchworcl and conservative management a guiding principle of those directing the institution.

Customers of each of the more than

60o Branches of the Bank have the satisfaction of knowing that behind their own Branch, for the security of their dc sources of t e entire organization.

BANK OF MONTREAL

sits, are the full re-

7 Established ' 1811.7

TOTAL ASSETS IN EXCESS OF $750,000,060

Charlottetown Branch: S. R. FINLAYSON, Manager.

The Montreal Curb Market

Stocks High Low (flog: Bcauharnois A . - I) C Seagrama

Home Oiloil. .

1 erlal

1112p Tobacco

7% 0%

"Potaters is good this momin,’ madame," saidi a green grocer, making his usual weekly call.

"Oh, are they?" retorted the cus- tomer. “That remlnds me! How ls it that those you sold me last week are so much smaller at the bottom

4 of the sack than at the top?"

“Well," replied the man, "pota-

J ters is growin’ so fast now that by

the time a sackful is dug the last

...’, ones is about twice the size of the

Slscoe liliulrs Walker Hiram Walker Hiruni Pfd

Canadian Gov’t. Bond Quotations

Bid As 100 10050 10511. inrifi’. ill lil~ 07 soil son, R7 soil,

02

9i

on nol-L-

07*? 901d.

Dom oi’ (‘an .. . Dom of (‘an 5-41

Miscellaneous

MONTREAL, Julie 23—Barlay Can- adian weatern no 8 40; oats Canadian western no 3 40; eats feed no 1 30: flour spring wheat patents firsts 4.8 flour seconds 4.20; flour bakers 4.10; flour winter wheat patents choice 2.06-2.70; flour white corn 4.30; bran tan 17.25; shorts ton 18.25; iiiiddliugs ton 22.25; roiled oats bag 00 pounds 2,70; hay no 2 per ton car lots 10.00: cheese Ontario 0014-0055; cheese Que-

_ first!"

lord Dawson, or Penn, relates this in the Atlantic:

A farm laborer in England had been out of work for many monthl and had been living on the dole. He remarked to his physician can day:

"Doctor do you lcnow I had an offer of work some days ago which would have given me five shillings more a. week than I am gettin| from the dole, but after giving ii thorough reflection, I preferred t4 remain independent."

quality, in keeping with plants and prices.

glossls, Scablosa, Dusty

paid. Ricinus or Castor Bean 25c Perennials, Deiphinlum,

Daisy, Porgetmenot, Sweet William, each. $1.25 per 100, Celery 25c doz. $1.50 Second early 40c, late 30c. Carter A‘; Co. Seed Store and F. sale, they receive them daily. We

baskets, we can always give good

note or express money order 7O

orders to J. J. Gay 8.: Son., This advertisement appear;

8375-5-3l-Tne-Frl-9l. '

Prices have been reduced on ve

Vegetable Plants, extra ear

GA Y’S PLANTS

ry many of our plants, but not thi the depressed times, below we give a list of oui Annual bedding Flower Plants, Aster, Phlox, Verbena Snapdragon, Balsams, Scotch Marlg old, African Marigold, Cosmos, Solip- Mllier, Caillopsls, Sweet Alyssum, Larkspny Lobelia, Dwarf and Trailing Portulaca, Centaurea, or Bschciori Balcony Petunia, 25c doz. postpald. Seedling Pansy, Dianthus Pinks, Petunia Ruffled an d Fringed, Zinnia, 35c doz. post.-

Button Saivla, Kochia.

each. Stocks 25c doz. postpald,

q Oriental Poppy. Pyrlthlum or Persian Daisy ., Disitfliis or Foxrlove. Canterburybell, 1 ycar old plants, 20c each. Shasta Pansy and Daisy (wintered over) 101 ly Cabbage and Cauliflower 20c dos per 100. Extra early Tomato 50o dos PfiliiléfalCucumbcr, and Head Lettuce 25c dor shall be pleased to have customers ca! at our gardens and personally select their plants, by bringing boxes and service“ . 40o per 100. Late Cauliflower June 15th, ‘rcc ompany all orders. Address all mall Ch \~t tetown. P. 0. Box 187.

Woolworth Co. have our plants foi

Late Cabbage ready June 15th 20c doz. $1.00 per 100. Postal

every Tuesday and Friday.

0014-0034; butter no 1 finest 101/,- 1093; eggs fresh specials in cartons 21; eggs fresh extras la carious 20; eggs fresh firsts in cartons 22; [in- tatoes New South Carolina no 2 bur- rel 8.70; potaotea New Virginia no l