QQTOBER 17L_1_*_)_3_(l

is TERDA Y’S STOCK

__;-I

, Market

Call mane)‘ 2 p.c. MONTREAL

i022‘. "ma". "ex..." lshest os . . .

..-

'_ Y‘. Power 5,111.11“; Products Car Canada (felncnt Fsnsda Power an

d 333p}? .'.'.'

oreign rner Cllifl DBYIY

111 Steol Wares ...

ternlltinn - intsrnational Petroleum “artsy-Harris Montreal Power ... llcC0ll-. Frontenac . . . National Breweries ... . National Steel Car ... Canada Bronze ... Canada Waiting . nonunion Tar ... . Famous Players ... Snrandn Pnnor Cor

1.2.0.115.‘

1 NE“' YORK

American Can ... Allezhuu)‘ Anaconda Bendix Aviation (‘ousuii '|l('(i Film lntl. .. Fonsoiidateti (Hi8 (‘omlnerrlal Solvents .. Electric Power ulld Light General Asphnit .. Goodyear lro ... international Hydro Electric .. international Harvester ... . . ‘enueeott (‘opper nntgonlery Ward ‘iagnrn Hudson Power llralunullt Publix Poor and (To. B Peniclt and Ford Radio . . Fears Roebuck ... Standard Oil of New Jersey Sterling Securities A

. ... ... ...

Far Films ... F.,I'. R. Chrysler .. General .\io l‘. S. Steel

TOTE. ‘

BAN KS

Bank of Nora Scotia Bani: of sioutrcal ‘flank of (fommcree Royal Bank ._.. ".4... ..

IIARKET REVIEW’ FOR 1030

.. ‘Lilli OCTOBER I6,

BRAZILIAN t

line of the most interesting Ions ill ("ulllectil-ll with the stol-k ill-nu of Brazilian ‘traction intiou between ibis null the

i-lr-lui as a bonus. "Brazilian" ltt L‘.

tmui-l represent fitll- u share, or cqllui io

.. l I the |Ii“f‘\'iIilll eusb dividend. lt ls cvld- . . . . . 7H‘ 19 ' g 1 1,1,. _' rat. tilerefore. tllnt ibl- diret-torrpiull- Doulslox o" CJRUIA "05Ds “i $91 o i D"|' 11mg‘ owl to give lln equivalent for the 1vrev- . . . ' {nus (iliViliellti ‘to BIHITUIIIFCILIEIS shouzlltl flux EAEMPT us‘ E5) 553K; hey .isp.se the slo '. oucc l e market Illlll elfillvn a fair recovery. 3-1 Cqmmeyge _ _| | | [339 QM," -" m u" m 1 \lllllii"l"lli . i "iii. vnosr r-"lsszvcras. cocssnns ‘1,¢,.,j,.J‘-L;7 10,“, 1m ééiovnlscofia I _ ‘ nyn .. flu Saturday of inst week Fl.\'.\.\- Tm,“ 5.11" 431117,

FiAi. (‘UFNSEL (leaiiug with which has uttructerl considerable tention. This article npproxilulltcd share equities represented by

pullllshetl nu

fli tll

llnd other

working capitol calculations

More detailed made available. "l reserves work out as follows: lnl 3.420.000 tons smelting are.

II’.

t1 u or 301801.100. i b)

2

TI'IE STOCK MARKET AND THE TARIFF

OW Canada's new tariff policy should affect se- curity prices is orlc of the phases of the tariff situation discussed in our October M2:- ket Letter.

The question of Canadian tariff reform is taken up at lmgth in this number. A copy will be sent on request.

JQHNSTON mo

39111- Rogers. Jr.. Manager Phone i269 Gordon Bldg" 139 Grafton St. Charlottetown

Manhu: Mums! Slat! Extingu-

Tlmlsu Sled Exrhnp, MonnuPCslr‘

"if", Visnipq Grshs Ext-bangs

55"!" land s] Tndo, New Yn i Club (Anon)

gwszcgz-zae:zszgatgxsatsstgrraw

3y STEWART JONES 6v CO.. Charlottetown Correspondents of Greenshlelds & 00., Montreal

ques- iii\'- in the re- previous rash dividend. The lnttcr in liflil bnll h‘|Il‘PF(‘llll‘lI $2.00 u allure. or Silo-a quar- tvr. tuppleulcutetl by l pr. stock div;

nttlel" Xornlltin .\liues, Liluited.

the table's ore reserves together with uct holdings. lll)\\'

lh copper at 10 cents ll pound ore 7.5-’! p.c. copper, $3.20 gold, equals $18.35 per

3.000.000 tons concentrating ore. 1\.c. copper, S100 gold, equals $7 0r

<1

ill

i i4

ii

Reports

o

‘lpoollgllo. c) .s0.oo0 t f1 . __ sgpgig. $2.42. $11.11‘, sqlidlliggflrzi,‘ ,1.-

Totul value ore reserves $84,021,440, "'1 “Nell 50 M. is 542400.720. Adding P1111! and equipment plus tuwnsite in- Yellllifiull. power leases and net work-

ing capital. tntaliin $13,300,000, gfgnfl éfgriflubtfi-"lllllgfi? or 24.00 per share on

III the previous article It was pointed m" m" H! $15 s share the com any's capital has s market valuation or S33.- 30111555. or less than the indicated net vs ue of ore reserves alone. The above reference to 50 p.c. is along the snow. auce ulsde in the previous article for l profit st that rate on the gross value p‘! ore reserves. The foregoing amplified ures afford an interesting indication o_ the vsluu of the equities behind horandas outstanding stock.

WINNIPEG ELECTRIC!

4 Point in connection with Winnipeg Electric that has not been given very muchvattqltlon of late is that this or. Ionization is receiving from its sub- sidiary, Manitoba Power Company, .11\-. ends running into a quite substantial amount of money. Aqrording tn the last. rlvniiliwle figure “iunipe: Electric held approximately 121.000 shares of Manitoba Power out of the iaiter's fo- tpl issue of 1.10.000 shares. Manitoba lower disbursed $1 pcr share on Aug. ust 1st on its shares and this added to the $1 paid on February ist menus tile addition 0f st least 242,000 this vcllr to “inuiplq: Electrics treasulyv. This luloullt u! money l; gpproxiluaiely (‘quill lo per share on the lnttcr's outstanding coulluou stock. it has ul- ready lwell estimated that the parent Wljllluny might this year earn of itself $1.15 per share and with tho dividends from Manitoba Power its-net available could be brought up to over $2, or l1. excess of the amount which the colu- pnny has been disbursing yearly 0n its issued stock for some tlnle. .\lllch will <l_<‘ll¢u\l_ upon the trend of iVinllillel: Llectrics llct earnings during the lust four mouths of the current yenr as to whether the showing will correspond with that Just mentioned.

ACTIVE uoxo r-nrces coupons-nos BEOURITIES:

Abiilol . .. 5pc 10m 71.00 77.00

- 5pc 107.7 101.00 10.1 l a1, 11c 1on0 100.75 51,-‘. pc 1017 100.50

iiHl $0.00 iiiii- fill iiitill l I054 Jill l 107.1‘. llli o (Llt l'ow .. 1911 pg .\iuu C M Co 10l7 ltli 5 Blunt Pow . 151 1031p) Mont Pow . 1070 104.00 .\ir\u Tram . lilil 100.00 .\iou Tram . 1‘. ‘i llh t) .\iou 'l'l'llul . . Que Pow .. Jlnlls i Show .. .. 1mm Show .. ... 1pc 11170 llnit Scour . iii-live 105;:

DOMINION 0F (‘JNADA ’ GUARANTEED BONDS

i§:-:=..§§:.

1111.5 U!!!“ PQITlIEFPIKN G

==s,- %s-

By LOGAN

the

more that there

help; liquidation lu it ll

Total Isles for todny !.B50,000. “Broken loans decrease 153,000,000.

O

.s-

r

-. ...... --—. ‘Pis-r-FF-‘JZW-wl."

.\'

(TAXABLE ISSUES)

5H. pc 101.05 5'1 pc 4N1 pt! f. pc

l‘, p1. 4i: 0C

.\'_ov

1. 10:1: e 1. um

(Special to Jnbnsfnll k Ward)

in: the day. the cffeet of (he discour- alzinlr Steel report was offset by nn ill- crease September. stronr: tec progressed further toward a fty ccnt of the recovery of the loss since early October. A full recovery would brill: the How Jones industrial liver- nges to nhollt 20L‘, the next resistance prviill, on an advance should be around

The market appears to be n

“T... Market fluctuated durlnl! Jul)’ and August without lllllilill}! ll'l\l\‘Il pro- gress awaiting an indication us to the character of the fnil business. An inl- proveult-ut ill business fuiletl lo llerrlop

and the market consequently declined sharply. lt is quite possible that the lurlrkot will uguiu go into n trndin?

area yet to be doflped until n ville. as to another point ill business can he 0h~ tained.

Grain Exchange

(Special lo Johnston k Ward)

CHICAGO ""\v\_1( Ililrh l.7r_vllv If?! . . "90’

Dee‘... .. ... . . l l M $1’ ‘\l.,_\- 83% slit .9353.‘ .. zgu 1g?-

I I I iii2§°".. was w- iiif.‘ .. We PM March 38% liq!" M“). _ 301g ui) Wheat (lct. . Dec. .. May .. OM! Oct. .- I)

88 Great Gowns

Stewesrt Jones 8e Co. Corrupondsnto of i

Grecnshields 8: Co.

is» Uulbcrs u u» Montreal sms sum... .1

8t, Charlottetown

ii Elfin 0* smut LETTER

Both favorable llnd unfavorable news developed nu the business situation dur- lu enrioadings llnd iulporis for

hnlcnl position and ywstertlny fl per

“PEERLESV

ENGLISH FUX llETTiiIG

For security on your Fox or Mink Ranch. Satisfaction guaran-

teed. Sold by the oldest dealers in ranching

supplies. Tile Rogers Hardware

Company Limited We a_i

so sell suchaac-

‘P.

. h

‘hi;

%Z'I%I'I%E%H%.

Closing Stock Letter

.\A i

up FoxiPans;

& BRYAN

An

rate. Director. are scheduled to meet November sixth. However, that Wilmington interests retsln n hulllsh attitude towards the stoc The news budget of the day was rather eoturelsss.

i-iIi ."

(Special

ero Supply

to tbs

-. 3§<l0;lnt Nickel l. of \\'lli)(iS . u-ilarris

(Special to Johnston t Ward) B Asked

Special to Johnston & Ward

BY THEIR OWN PRIVATE WIRE An easier tone was nlsnlfested in the market today right from the stnrtnnd hy the curl of tbs first hour, n general decline of nus or two points llnd been regis- tered. In the lute afternoon n fair sired rslly occurred, followed towards noon in I relapse to the preceding low level where the list rusted with frlctlopfl vurln» llons during the early mnnlfested by Gillette unrl Auto-Strap both apparently nourlcsmont that lerrns had been agreed upon for the nlnorpilou of the by Gillette involving It the some time the and of potent Iltiintlon between lb.- companies. ‘Warner Bros. was lilo strong, there being more or less value rll- would hn an accession of new interests to the hoard of directors. General Motors was under pressure until the llM nfterunou, than lppnrouti; a result of apprehension over the present dividend it ls kemphnslzetl

'11 s1 I51 s0

...

...] 04:12,: a7

The New

‘ trend wse e sn- Auto-Strap

' so sc...80801B080 New YQfk s o 5on1 isauiss isziii s2 s OofN J . saviss loll/liar . S0ofNY.‘-’1l'.'1%ifl%27% . E, h s Wsrner 20v, 201/, 2 12o ycc Thermold . . 8 Studebaker . 28 28% 25 25 -—- . Texas Co ... 44 45 43 n: G Sgl . lav. ti‘? tag l?‘ (flpeclll to Johnston b Ward) _ g‘ (-31% Cub ' 64%, 35% 64 I 6; flpenll-lighihowiLastihtCh U Pwflc , 199%,, y‘ All‘ Reduc ..llllflfi‘l0I§{|ilil“’\f|‘l02ii\ —2, - . ' o y | o»; I 23%] w 1 ,1 . -|_ lnlt (.orp . Z‘ll,6.|.3. -14. , Alleg Lorp .. 1o I10 i1 .. U G “m, awn“, 3W so,” t“ "m" ---l- " ' u s I s...“ 0212i ' i “Cm ~- -- ‘I u s ma. ' 131/.- ‘ M 1"“ ~- n s steelmtslzailaz ltilllilfllli Al“ c" - -~ w... Steel " ow. s4 15ml 5451- 51" C M‘ - w...“ n c0" ml. 20a’! ml ma; Al" F 1’"“' - u...- Bros ' 31w as‘ Isa ‘ 5"‘ Y’ L" - YVest Fnlon‘ m 114.4 142 n42 Al“ i‘ 1M1" - -’> ~ wen Elec "nuluuttmulasginsist-lag Am Tel '1‘ Jill \\'-Over .. l‘. i I 1 Al" ‘Pelee i1 _ 11-0.: c» “.1041... out: 0s I a 14 Rilfinilifiltlll,» ()3 1' . 1 WM"! p ‘HI $1.1m smiylsgyis 2% - - - - ' - ~ l- — ' , _ _ _ .... Auto ...l st 1x4. (so is i X T 0M2 "H n 1"‘ 1 M“ 55 mm Loco .. 27111270312715 2m ‘ill’ .--- sane: i urns a . i’. llend ‘Av . ' 201;.‘ "0 , 1 n9 Mflfltfeal gotlb Stool . . Pg“! . lilrA .\i i S k E h m, toc xc ange (alt Iicglu --v—— ‘ ‘uci lc tlhfa“! Pgfig (Special to Johnston l: wart!) vhf“ “0 nou-“tbtorckc 0pen1lllghgLowlLsst (‘oi-o (‘obi . " ' a "' '. ‘.0, m“, p I Abltiili .. .. 1011.1 101g 10 10:. (‘oi h‘ iron (C. a ' 84" 4-... o 11m '. ~ ,, *,I*_1'n_°{f'_,\;“ 3'31: 612i“? lIilsollilsou-lsotg 1501.1 v ‘if 140 1Braziiiau . . 24%| 34% "" ..::':..,.-".:: 1 - i=4 13- i=1 1 u»... t‘ I'll)’ . 111018 i17l4| 1111;. .. w. i ill: ‘ 4214143 42, 4:: .... .\t s "us 114s 1140 ‘no ILockshutt . 14%| 141/. 14% 11;, l

York Curb

to Johnston l‘ Ward) B

Amn (“ynnnmirl B .. . 12 Assd Gas Elec 20% Brazilian Traction . 241., British Celanese (‘er .. 1h‘, (‘nnadilln Marconi ... 3 (‘liies Service u. 242$ Continental Oil ... ... ll (‘ostleu Oil . ... 8 Durant of Delaware .. ... 1x’, East Slates Pow B .. ... 201;, Eiet- Bond Share ... 501v’. Ford of (‘nnarln A ... ... 20 r‘ord of (‘nnndn B ... ... an Ford of Emrlnntl .. .. 10% Ferro Plunmeiling ... ... 34 Hiram lVaiker ... ... M1 Humble Oil ,. 74 imperial Oil ,_ 111s; lnti Petroleum 141i‘, Nlntzara Hudson i. I‘ .. .. fl Paramount (‘ab .. 414 Stand (‘Ill of Indiana 421/. Stnntl Oil of Kentucky .. 20% fiiflililld qilrof Nebraska 4514 nte . ... .. .l Vacuum Oil . . . .. l‘. Abanna '41‘

Dominion Off

Canada Bonds

iiilfil 100.80.

l5 5 il037‘l04.il.'l

‘lrtory Loan . ' t, '1_

Victory Loan ‘Mg, 101T 103.00 ltenelvlll . . . ill!’ i032 101.90‘ Refunding . 341310040. 00 S5 Refllntiill! I5 iillifi l0'i.

Refunding 1141044 00.845‘ llefundink 0414,1010] 00.0.1]

Bid Asked 8-‘4. 8-”.

W. lnailoasrgloaan 511,101 m. 401

MONTREAL CURB MARKET

UARDIAP

AND BOND

192%

rhhfl-u .. ..

i .

this great

competition.

Central Guartiia

MAKE YOUR. FOX SI-IOW entries early. 765741 IF YOU CAN WIN s prize st the Charlottetown Fox Show. you can win anywhere in the world. 7657~tf

TI-IE FOX SHOW WILL BE HELD in an ‘attractive fox home. Watch the

new judging pavilion. '765'i-tf

FINED-For operating an unreg- istered car a motorist appeared be- fore Magistrate D. Edgar Shaw yes- terday morning and was fined $5 Mid costs.

TAKE YOUR WIFE, family, sweet- heart or friend to the fox show. Make up s party. Don't miss this

silver beauties being judged. In the‘

Meet Your

9w

Friends at

AT

PRINCE EIJWAR ISLAND i

Fox Classic.

Entries close

October 23rd

For further particulars apply to

W. R.

SHAW

Secretary and Manager

POLICE (Téiifira. m. Police yesterday morning a drunk and dis- ordely was remanded till lilonciay. ‘be bail bonds of $5 each for two

disorderly, were estreatecl.

CORNWALL PASTORAL CHARGE-Oct. 19th. Kingston at 1i a. rn.; Cornwall at 3 p. m.: New Do- minion at '7 p. m. Rev. D. K. ‘Ross minister.

AIDNG DISTANCE CALIF-OED Cf the longest distance calls ever put Vthrough the local telephone office was received last night by Mr. Just- ice Arsenauit. 1t W35 from Texas and it speaks well for the Prince Edullfd Island Telephone Compsxl‘ that the reception was quite clear. The call came from Mr. Hilsh M“ Kay who is well remembered hose through his activities in boring i0‘?

tall‘

(g | 1 y, l ‘- w 1|) great attraction. 76574.1‘ l“ 80ers to Jo ns on awn Atgied a M. Lampson a (bu POW III ' . zlillilfll l STANLEY BRIDGE AND NORTH‘ u 33 III IIHO I ' IICQfl I’ 1 .3“ __ g BUBTICO-Bervices in connection Jnopfizhnrg...‘ on M with the United Church on Sunday, """°“~ ‘i- c‘ ‘~ ““"‘“" .aa re e oc ... ' ' gsnstllarifl‘ t...‘ L.“ 1r. Oct. 19th. Stanley Bridge, u s. ..., Pubilc A0890“ Soles .III C l ... ... s-s n . ’ (“llrlinlls Bfievr L; g and North Rustico. 1.30 p. m. Rev. “Aw "ms ‘ s ore er ... ... gzllgiipsle éffw..." .... s’ 7g H’ s’ mshom mlnlsut 5|‘ ‘ b"; will he furnish- " “n” ’-""'"'" ' ’/' ed without charge by applying i7l§.'i‘..§;".iil§i'i.."I.."JJ 3E?“ 3v. mm a‘ mm“ n 1 we: ‘ltgloilmsa. ma. Sum. on-le ... .. _ on e "e _ m ‘h. _ _ |_ .:.‘..’.§'.'.".l;i';'61.:’.“.6.. §§.'.t‘;'f§;..'.;;l".'._e..": " § Represented l». CT! 0 lCC Y9K‘ 0i] fll ... . s 1:2? Eatlriflcum‘... pplrpfih lénlislng Mills m: u FY8581, INC- I G OI‘ OII ... .4 so a Rn lltilltlecs a ._ . Siseoo . as ss u‘ um‘ A"“' Lake Superior Corp .. 8 I Took flnipe ... 040 ALIAIIIIL_IDUIIC Ca .. ... 1A L___ Ililul. n- ... ll.

men, charged with being drunk and I

._

TA TIONS

The .World’s Greates

FOX SHO

CHARLOTTETOWN

$3000.00 in Prizes

9 CLASSES 54 SECTIONS 1s CHAMPIONSHIPS 1s RESERVE CHAMPIONSHIPS s6 WONDERFUL TROPHIES

A Wonderful Show Building

A prize Won at the Charlottetown Show places the highest mark of fox quality on your production. It enhances your values. Stimulates your business. Develops your marketc

DOIYt miSS an Opportunity. Enter your foxes 1n oils great

October 2m. u. November ist

Send your entries early. Spend a holiday at

a.‘ .~

rlfqtrvu

n3

McKay may visit Prince Edward Is-

land shortflv.

FiiX WIRE

. “Quality is the First Consideration”

i

ALL SIZES IN STOCK

Fen nell

—AND-

iihandler

nil on Governors Island. Hi5 mR.

friends will be glad to learn that M.

i 1

i

./ “Q. “flgiiiturv r

'I\ i ML.“ Y). ..

Olf ‘N /. "‘

‘law’-

- HARDWARE-

l i

‘PRINCE EDWARD

FOX- llETTlnu --

010......

fiéiiéifivfnfl

Built from the inside higher grade materials proven superior quality. espe- cially annealed to eliminate brittleness, and to maintain its

UNIFORM. TOUGH STRENGTH

ll you"re looking for the lact- ter netting order PRINCE m) warm from Write for Ranch Supply

Catalogue.

with ni’

ll. r. sum... Ltd}? svnmrmsmr- ' ' CHARLOTIETOWN