MARKET QUOTATIONS

/ E. : SUMMARY

’ HE éANADIAN PRESS

gyrgl‘lw. A11 markets closed. a . _. , . . . a . . dgcnggi yMarket strong In ‘ tome trading- , 1

NW York; Market higher, met-

.ic‘URRENCIES

.—

NTREAL (CP) —- The U.'S. “a closed Monday at a dis- {ﬁg-1,413 1346 per cent in terms nadian funds, unchanged;

of“ sterling 32.7»; up 1-16.

W , ;:.V_1.M0NVTREAL

omiAL (OPlaPrices- ad- Med a oss the board at the limo: brisk trading on the Mon— ;nd Canadian stock 'ex- »h- Monday. Gains ranged to W1 PM“ . . metals and thed relimilnlg - " lines stoo on . - .é’éﬁmwNickel as up 1c at mid Hudson Bay at 50 was idol/i." Aluminium gained 1% “W317; trading ex - divrdend. But Norma slipped . to 461/2. One- Wm were made by Imper- 51 oil at 46%; and Trans-Canada ' It 32%. r 1 mm Laeks Paper bucked the

provements by Campbell Chibou- gamau at 6.35, eWst Maygill at 2.15 and Gassiar at 8.40. Steep Rock went up 3-4 to 12. 3-4.

Penny issues were irregularly strong. Most changes ranged to about a nickle. But Can-Met slid 39 cents to 1.25.

The closing averages show banks up 0.29 at a new high of 52.71, utilities otﬂf .10 at 140.1, in- dustrials up 0.5 at 275.1, combined up 0.3 at 230.1, papers up 2.3 at

382.1 and golds off 0.23 at 71.15. MONTREAL CLOSING srocxs

Abitibi 29 Bud Bay Min 50% Asbestos 29 Imp Oil 461/2 Bank Mont 47% Int Nick 807/3 Bank NS 60 Int Pap 100 Bathurst A 40 Int Pete 52 Bell 42 Mass-Fer 87/3 Brazil I 6% McColl 595/; C Cement 35 N St. Car 201/2 C Cement pr 28% Noranda 461/2 Cdn Brew pr 33 Royal Bank 641/2 Cdn Celan 14 Royalite 11%: CPR v 281/4 St. L Corp 131/; Cockshu'tt 131‘s Shawin 26 Seagrams 30% Steel 63% D Bridge 221/4 Un Steel 14 Dom Tar 133/4 Walker 29 Foundation 13% CANADIAN Fraser 261/2 Cons Pap 341/4 GT Lakes 30% Ford ' so

How Smith

NEW YORK

NEW YORK (Am—The. stock market scored its biggest ad- vance in seven months Monday

and moved to the highest level in more than a year.

' v om down ‘%at 30%. ' mines saw (is-cent mn-

Leading stocks, rose fractions to about 4 points a share in the third

4,000,000-share day in little more than week.

Copper and aluminum issues were star performers, responding to news of increased production and higher prices.

The Associated Press average of 60 stocks jumped $2 to $185.80. This was the biggest rise since Jan. 3 and carried the average to the peak since July 26, 1957.

Based on the average, the ad» vance tacked an estimated $2,- 500,000.000 onto the market value of all stocks listed on the New York Stock Exchange.

All components of the AP av- erage were at highs for the year. Industrials rose $3.20, rails $2.40 and utilities 20 cents.

Turnover amounted to 4,000,000 shares compared with Friday’s 3,380,000. e.

After the close, the federal re-

" serve hoard increased stock mar-

g.n requirements to 70 per cent tom 50 per cent, elfective today. he margin is the amount of money a buyer of stocks must put up to make a purchase.

Margin requirements have been at 50 per cent since Jan. 16, when

, they were lowered 70 per

cent.

In the aluminum and metals group, Kennecott rose 45/3 to 99%, Anaconda 3%; to 53%, Reynolds Metals 35/5 to 555/13. Kaiser Alumi- num 2 to 36%, Phelps Dodge 25/3 to 557/3, and Alcoa 3 to 811/2.

Among Canadian issues traded, Aluminium Ltd, added 1% and

.Advances 696 66 Declines 284 296 Unchanged 205 224 Total issues 1185 1186

T ternational Nickel and McIn- tyre Porcupine rose 13/4. Cana- dian Pacific gained 5/11.

In the Canadian list on the Ann— erican Exchange S-hawinigan lost 1/4 and Fargo Oil dropped 3-16. Preston East Dome added 11's.

What stocks did:

Mon Fri

NEW YORK CLOSING STOCKS

Beth Steel 46% Kennecott 991/4 Borg Warner 34% Monty W 38% C and O 60% NY Cent 19%: Cons Edison 551/4 Radio Corp 357/; El Auto El 351/2 Std 011 NJ 55% Gen Elec 645/5 Utd Aircraft 30% Goodyear 110% Vanadium 35 Gt Nor Ry 433/4 Westngse 62 Int '1‘ T 89%

F3 sezyr aug4m

PRODUCE

MONTREAL (CTP) — Agricul- ture depantment quotations:

Eggs; Wholesale dealer prices to country station, wooden cases, extra-large 48-49; large 48 549; medium 35-36; small 29-30; B 34~ 35; C 23. Receipts 135. Butter: Current receipts tend- eralble 631/11, not. tenderable 62- 621/4; fresh grade creamery prints joblprice 631/2—641/2; fresh wholesale 63%. ICheese: Delivered Montreal not not waxed, Q 11 ebec white 33%, colored 331/2; wholesale Quebec white 34%, colored 341/2. Current receipts Ontario white fob. grad- ing station 35, colored 351/5; no quotations for wholesale Ontario. Potatoes: Quebec, new, 75s .95—

’Soys Conaclia

ns Have Taste

For Brandy Good As French

MONTREAL YUP) —— Canadian connoisseurs, myo Henri Coquil— land, can detwt good brandy with as sure a skill as their snif— fing counterparts in France.

It‘s Mr. Coquillalud‘s business to cater to educated tastebuds. As director general of France’s Bureau National du Cognac, he is a watchdog over the standards of the French cognac industry“

Canada is a good customer for the industry, he says, and the Ca- nadian taste ranks with the best his country can offer.

Last year Canada imported 201,865 proof gallons of brandy— the equivalent of about 1,000,000 bottles—most of it French Cog- nac. Before taxes were added to the retail price, it was worth $1,- 778,358.

The demand was up appre- ciably from 1956, when 185,385 proof gallons ‘of $1,510,379 pr'e- taxcd value were imported.

3RD BEST CUSTOMER

The imports rank Canada as France’s third. best cognac cust— omer, after the United States and Great Britain.

The US. last year consumed 5.- 250,000 bottles compared with only 1,000,000 in 1952.

“By 1960 we expect cognac to corner one—third of the U.S. bev- erage sales manke‘t,” Mr. Coquil- laud said.

“The British Isles last year drank 8,000,000 bottles, possibly

1.00.

because they believe that cognac

is good for what ails you," he said. “They’re right.”

He said Premier de Gaulle of- fered proof of cognac’s medicinal eﬁfects. Although on a strict diet, he managed a little sip daily.

“It makes him feel fine," said Mr. Coquillalud.

He said France is her own best customer for cognac. Of 80,000,- 000 bottles produced annually, 20,- 000,000 are consumed on the do- mestic market and the rest sold all over the world.

HOME PROVINCE TINY

Most of it comes from grapes grown from the (inlky soil of the tiny province of Cognac, an area 350 miles south of,’ Paris that looms large in the Frensh elon- omy, says Mr. Coquillaud.

His bureau was established fol- lowing the Second World War by the French government, in co-op‘ oration with producers, to pro- vide technical and economic guid~ ance for the cognac industry.

It issues it’s golden yellow cer»

tiﬁicates attesting to the origin.

and quality of every shipment leaving Cognac.

Mr. Coqhillaud, 52. was inter- viewed during a holiday week-, end in Montreal after discussions with United States importers and distributors.

Just to prove it was a holiday, he washed down his lunch with

water.

Survey LaUnch Lost In Blast

BARRING‘TON PASSAGE, N.S. lClP) —— An explosion and tire wrecked the mines department survey launch Scaup at a wharf here Monday and injured three

‘men, one of them seriously.

First reports indicated the ex- plosion occurred aiboard the An- derson, another survey launch, which operates with the Scaup out of Barrington Passage.

Three members of the Scaup's crew of five were taken to hos- pital in Sheibunne, 30 miles away.

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Tues, August 5, 1958 The Guardian Page 11

They were Donald Messenger Of’ilhe explosion occurred. He said Olafke’s Harbor, W‘hO 1' e'CeiVed ‘3 the blast apparently reameas the

possible skull fracture when struck by a llilying hatch cover; Clarence Richards and Joseph Avery of Barrington Passage, suf- fering from burns. Messenger also has a fractured foot.

The shipper, Capt. F. L. de Grasse, was walking along the wharf towards the launch when

result of an engine backfire while ,

the vessel was still tied to the wharf.

Captain de Grasse said all hands might have died had the explosion occurred at sea. The three injured men were in the stern. .

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