-I £171)

. The market opened strong and

_ huq1_1s<r_"1._ 19

ouo

g.

MARKET cosszp '-

(By Johnston and Ward's Special Wire)

MORNING MARKET mum NEW vonix, N. Y.) July a1-

mive yesterday, but did not hold 1,5 gum long; g/By eleven o'clock prices were morally lower ume

u . Sfrme W" 5 - saintly msdeqbut during the last hm;- renewed,‘ moderate sellingi curgpd prices“ below the morning b,“ 1,, g rpumber of cases.

when prices move ahead very yhpldly invmtment buying, which has beenthe mainstay of the mar- ket, is deferred causing a correc- tion, Because there is no pressure 0f liquidation the reactions have not carried far. Today's relapse my be the beginning of no more man the usual corrcctinc such as ha; been experienced every few days recently on the advance. As m. market goes hiaher. however- me possibilities of a more severe setback increases and it may be ppprmwhlllg the time when this possibility Should be kePt m0" closely in mind. .

The U. s. Steel mm?- probably “.35 not far from expectations. A 1,5. o; only $112,000 fcr the second quarter, in view of level of oper- pi-ions. was s fair record. The pro- m mode during the second quar- ter last year resulted from the maintenance of an unusually high rate of operations until the July 4th holiday, from which the in- dustry subsequently suffered. The recent strength in U. S. Steel stocks has been based more upon the recent and proqacctive rah of operations rather-than upon the results for the first half. Some hope has been exprmsed that a. nrger dividend would be declared oh the pfd, a-t this meetinfi. Wi- such action was not generally ex- peeled.

Ialdlsrw and Company. SUMMAS!

NEW YORK. N. Y. July s1- Gold bars quoted in London It 140s ad vs 140s 5d on Tuesday.

"Iron Axe" reports 3% win“ gain 1n steel production in put week to 4d per cent of capacity. Steel scrap strengthens further.

Borden Co declared quarterly 40 cents common divi- dcnd.

Penlck and Fbrd Limited de-

emed regular quarterly 75 cents dividend.

Deere and Company declared 2 35 cent dividend on pfd. It two previous quarters 20 cents was paid. '

Remington Rand Inc stock- holders at special meeting, rati- fied recaipitalizakion plan, '. mately 70 per cent of each class of stock approving tho plan.

American Petroleum Institute estimates gasoline stocks in week ended July 27 at 48,157,000 barrels decrease of 590,000 barrels from previous week. Crude Oil output averaged 2,734,650 barrels, off 8.- 950 barrels.

U’ S Steel Corp quarter ended June 30 net loss 6752.493 after charges vs net loss 59,173,801 in previous quarter and mt profit of 35.350241 in. June quarter 1934- Six months ended June 90 indic- ated net loss $2,986,394 vs net 1cm $1,639,724 in like 1934 period. _Ds- clrlred e dividend of V50 cents on. the 7 per cent cumulative pfd similar amounts have been in previous quarters.

Calumet and Hccla Cons O09- prr co June quarter profit 9111'.- 293 vs profit. 020,749 in previous quarter and loss $189,258 in June quarter last year.

Electric wcr output in U. S. in week B‘! was 5-3 P" cent over l e 1934 week com-poi‘- ed with increase 8.0 per m in previous week. i ‘

DUI JNII.

nAmI (E

MONTREAL, July Sl-Stocks ran into a. heavy supply of M161’: ings yesterday. Prices, however- did not yield a great deal and on ihe whole held up rather well. There was nothing in csicrdayh market action to sug that the current upswing had culminlted. My uaction which may develop i: likely to be of minor P1000!- H0113. Retain present positions and c1 dips continue to buy Southern Padfic, New York Cen- tral. Pennsylvania B R and Dela- ware and. Hudson.

One of the significant features oi the steels statement is the fact that compared to the first quarter of 1935 marked improvement has been recorded for the quarter just ended. Further betterment is in Prospect for the steel industry during the ' months imrnediarcly ahead. _

Selling pressure developed in a

number of low priced golds yeeier- -_--i--~ unfavorable crop conditions, en- gay" Tmmmaflmm “,.,‘,,,,,,.,."‘°‘,‘.; C i g wnnrrrso :13 s1 The u: OWSV - - ~— In whateseti- selling “gamed. Defer ‘ urrenc d wfllbbfi made his exit from the purchases. _ "Ii-WI If? l . nsnon. (Clllllllfl u when the hi?" wheat future was ammo tsrrsa It Tuesday loaning _ q 1v. 1r, my so- glhest closed lower sndnflept cm hold Gilt at“: u m

Anumberofloworiccdisstses

~ probably made final top yesterday. By "final." I do not mean for this year, but for the present move that started on March 19. .

The market will probably sell off tomorrow arid rally moder- ately on Thursday. restarting s down trend on Friday. I Itill be- lieve that the few stocks that went

her after I advised profit bk-

can be ‘ __” back consider- wblv dies-oer late in August. A treat many stocks are already considerably lower from whore you were told to take profits.

Col. Pictures, which I said last week would rally a few points when it was ‘I1, did rally to 75, but is down In 71% Jgaln. Moder- ateshort sales were advised when itwas79and79but1wou1dnot cover any yet.

American Tel and Tel closed 1% lower, having had the 3 to 4 point rally which I predicted Fri- daylstilleqaecttosceitccn- slderably lower before very long. Sperry, recommended some time ago around 8 and 9. sold near 12 and with a. good deal of patience. you may get 2.5 or 30. Phillip Mor- ris closed a little higher: and, as stated yesterday is not lkcly in break last week's low. I look for a. considerable advance to a new high very soon. Chrysler as well as Westinghouse lost about a point and should reacfconsider- ably mrther, thus giving shorts s. chance to cover with s. profit. U. S. Stool should also sell off, as its quarterly tatement was very disappointing. Union Carbide was probably top and ought to go t0 56 again. The rails, have also done enough for the time being, but if Tens Pacifk: goes near 18, buy it. ‘me next 2 or 3 show whether my of 127 as a top has been I still think so.

Markets At A

Glance

(Canadian Press) Toronto and Mcntreal—fndus- trial stocks higher. - Toronto Mines-Lower. New York-Stocks closed higher. Winnipeg-Wheat up it cent. New York-Cotton and rubber higher: coffee lower; sugar un- changed.

M T’L. CURB

(Johnston "is ,Ward)

v

Stocks Opened Last Assoc Brew 12% 12% Beauharnois 8% 3% Brew Corp com . 3 3 Brit Amer Oil . 16 16% 00.11 Malt 84% 34% Cfiamp Oil pfd . 8% 6% m; Beag . . 20% 21% Dom Stores .. 9 9 Ford of Can A . 38 29 rmp on 1111 1011 Imp Oil .. . . 19? ‘i956 Imp 1w . .. 14 14 Inti Pet .. .. . 84% 34% Melchers A .. .- 9% 9% ‘fleck Hughes . .. 405 410 Walker Good 29% 28% Waiker Good pfd rm 1114 Wright Har 750 750 . . Miscellaneous (Canadian Press)

MWTREAL, July 31-

Whest. nor no 2 59

‘Barley O W no 9 491

Oats C W no 2 53.

Odts O W no‘! 4d.

Oats feed no 1 45.

Pious- spring wheat patents. first! $5.90. - Hour seconds 84-90

Hour bakers $4.00-

Fiour winter wheat Pltilhl-S.

choice 03.90 to 83-40. Flour whlh corn 55.10 to 55-39 Bran ton 24.25.

Shorts ton 23.90 to 24 S. Mlddlimb ton 28 25 to 30.25. Rolled oats bag 90 tbs 8 25. Hay no 2 per ion carlots 11 In

12.50.

Ohoseencl curOnt 9% to10. No 1 Que 9% to 9%-

Buticr no 1 21. liggsincartonsAlla-NQSU. 113s A 1 medium S!

Rgs A large 92.

13p ' mediwn 29.

1am H:-

39980 -

Potatoes new Que 80's 45-50- Oid Quebec 50's 20-25.

mitt‘: I-eents. begun at‘: _ u s1’ he" , u; lectures the session of all wheat q -in .. sou r.i..,_’,‘,i‘;“,b""if,‘,'g°'-“°“l'°&'. 1mg" markets today. Canada, polllylnmoiuthe - -- 85 u: m] mm“,- offllm“ t. inresponsero Uhitld- wwmsimter --- 410 lmzjdwm mfiwefcematicnofanewflab .. .. gffffjram~fiislnltbv first hour. atthsirseuehvhw" 3'1"" m" ' - ' _ m 0111111225 ’ " " ' ,.b:?:; ‘ n-guiider. a shoed .92 of s 50 i" , _ yeivhsuu scat w em u. Pkenchofrél: .75; width ‘3'.l..°’1..2.."“‘ ‘w II ti‘ ' 9'“ i ‘ .- J , a cent at I'll 0!!"-

M17; Stock I Exchange

$15M»- furnhlsed by Johnston

rxcgiuar

en) liter)

Ward members of the Mani real Stock lxchann. Montrca Curb Market. 156 BI ‘- = street Charlottetown».

Sathurst A 0% Sell ‘Ibl 129 Sraz~'1‘._1. Pow 8% 8'0 Pow A 24% Sruck Silk 19 Build Prod 31 Cm Oar Com 7% Can OS!’ Md 13% Can Col com . . . . .. 23 Osn Hydro Elec pfd 50 50 Canlnd 1AA . Bl/s 9 Can PM: . l0 10% cm North Pow 21% 21% Oockshutt Plow W. a 00m Smelt . . r 167% Dom Bridge . 29% 29% Dom Coal Pfd -. 17% 17% Gypsum 5%. 5% 'Holl Gold Mines 1370 1375 Intl Nickel 27!’. 2s 1ntl Pow pfd . . . . .. 42 42 Massey Harris .. 4% 4% M00011 Front 13 127s Mont Pow 301;. 31% Natl kew 33% 36% Nat Steel Car .. 15% 16% Power 001p 7% 7% Shwwinigan .. 16% 16% Steel Co Can com . 50 ‘ 50 Steal C0 Can pfd .. 46% 46% BANKS 183 145

LIVESTOCK

(Canadian Pres)

MONTREAL. July 81—-Off - gs on the two Montreal livestock markets today totalled 657 head, of 163 calves, 125 hogs

lamlbs.

tc$350for grasscrsto $5M‘ medium quality veals.

Good lambs bmltht $7 with culls out at $5. Sheep were most- 1y

Ifogs were sold at 09.75 for bac- ons, fed and watered. ‘rhere was a weaker undertone on all Iffldes and light hogs were not wanted.

PRODUCE

(By Frank Msclflll (l ‘ ‘ ’ PIOII l‘. (AI. By Guardian's Special Wire).

NEW YORK. July 3i — Surging forward all along the ‘line in the most active trading since the close 0f May. stocks for the second time this week marked up new highs for 1935 today. - "

Power and light shares led the procession, snapping the balance of the list out of a minor profit-tak- ing slump at the B. ‘I110 buying quickly spread In the mils and the great majority of indus- trials. For the list as a whole. ad- vances outnumbered ‘ “ by two to one.

The Associated Press average for 60 stocks, with an advance of .5 of a point at 47.3, established a new 1935 peak to replace the top of 147.2 registered Monday. The 15 utility stocks included in the aver- age advanced 1.3 points, likewise to a new 1935 zenith. eclipeing the mark of 94.1 made at the begin- nlng of the week. In the stock exchanse 1.918.590 shares chanzed hands. This was the greatcatvol- ume of business, with two excep- tions, this ycar. On May 38 the 2,- 000,000-share line was crossed.

Secondary loans‘ in the bond market tended to trail along in the wake of stocks with a number of gains o1 one to two points, espec- ially in the rails.

MININ C

(Canadian Press)

TORONTO. July sl-Mining listings of the Toronto exchange closed the month with a definit- ely weak petunia-ace today and with volume increasing on the drop. Gold shares were foremost in the retreat and ‘losses up to two full points were registered in the group. Trading was in only moderate volume in the base met- al and sflver stocks with narrow with narrow recessions predomin- ating in the silvers. The gold share index dropped .91 to 101.87 whileafewnetgalnslnthebase metals gave the miscellaneous mines index s. small advance.

‘Ilmding about 1,000 shares Dome sagged two to 36%. McIntyre lost 1% to 38 and Lake Shore %. Other recessions were 15 for Bralorne and 10 for Wright Hargreaves while Poineer, Hollinger and Teck Hughes closed s. few cent higher each. . TORDNTlO, July 31- Stocks

(Canadian Press)

MONTREAL, July ill-Butler and egg prices were higher on the Montreal dairy ‘and produce mar- kets today while other commod- ities held steady.

Butter was generally 21 cents per oound for cariots or less of no 1 while lots to the retail trade were quoted at 32 cents for solids and 23 cents for prints. At the weekly auction held at the Mont- real board of trade 938 bones of no 1 Quebec buttre were sold at 30% cents. '

‘A steady tone prevailed 0n the cheese market with no 1 current Ontarios going for 9% to l0 cents andnolquebecsellingatmdto 9% cents.

Graded shipment in carlcts or lessofeggswerefli/stcsllcents for A-large, 35% to 36 cents for A-medium, 21% to 22 cents for B. and 19% to 20 cents for C.

New potatoes “ore 45 to 50 cents per SO-pound bag while old varieties were 90 to 25 cents per Bil-pound bag.

GRAIN

. (Canadian Press)

WINNIPEG. July iii-Wide price fluctuations in July oats held the trading spotlight in to- of the Winnipeg a session in which wheat prices recorded net gains of ‘it of s cent.

1n g brief burst of strength, when "shorts" were forced to bid up the price to cover their matur- ing contract requirements, July oats scared 6% cents a bushel. skidded to record three cent losses and wound up st 77 cents. m advance of 2% cents.

The July wheat option closed at 95% and August 95% cents. their extreme iii-cent advance whittled down in s. m

rul “

Bobjo Bralorne Buff Ank Bunk Hill ..

Can Mal . . . . . . . .. Castle T Gent Pat . Chem Res . Chiboug .. Clericy Coniagas Dome Franklin Eldorado FBridge .. Gods Lake Gcldale Granada . Grandoro Greene Gunner HcIIinger Howey J M Cons Kirk Lake L Shore . Lamaque

.1111: TOWN

TYZIAIS" 1111011

GUARDIAIN

N. Stock

Exchange I

---

(Quotation furnished by Johnston and Ward, Ialsbou of Honors-l Stocks Ixelsnage, Market, 15d llchnsud “not. Chal- lhthtown.)

Iontroal Curb

srssrsrtrre; Eliggfitifigg

Case Thres .. Cater-Tree .. .. Oel Corp Com Sou Gong Nairn Ches Ohio

Chin North ... Chrysler Mot Oolumb Car-b . Colum Gas Elec Com Sol Con Gas

Con Oil

Con Can

Corn Prod .. Del Bud . .. E I Dupcnt East Kodak Eiec Auto Lite . Elec Pow Light . Erie

-.. ...

meport e...

Gen Amhalt

Gt West Sug Houston Oil . Hud Mot

‘Hupp Mot Intl Hal‘ .. Intl Nickel

Intl Tel

Johns Man Kan City South Kelvinator . . . Ken Copper Lambert Co Lig Myers B Liquid Curb .. Loews Incorp .. Loose Wiles Bis lidcKeespcrt Tin .

Mack ‘Ikruck

Math Alkali

Miss Kan .-..

Miss Pac ... 1% 1% Mont Ward 31% 89% Nash Mot -.. 13% 15% Natl Bin 31% 82 Natl Dairy Prod 16% 16%

Natl Pow ldght 92 9% New Haven . 4% New York Gen . 4% New York- Cen .. 21 North Amer 19% Neath Pac 19% Pack Mot 5 Penn Rail 267s Pub Set N J . 40 Phil Pet 20% Pullman Co 46 Phil Morris 49% Radio Corp 6% 6% Radio Keith Orph .. 2% 2% Rep Iron Steel . 17% Sears Roebuck . 52% Safeway Stores . 39% 38% Shell Union Oil 11 Sim Co 12% Sooony Vac 13% South Psc ..... 19% South Rail 7? Stand Brands ..‘. 15% Stand Gas Elec .. 4% 4 Stand Oil Oalif -. 33% 33% Stand Oil ‘l J 47% 47 Stewart Warner . 17% 13% Studebaker . 3% 3% Thermoid ,. 4% 4'56 ‘Ilexas C0 19% 19% TeX Gui! Sul 34% 84% ‘Tim l-fvll ‘dear 48% 49% Uliion Pee . 106 106% Union Oarh Carb 64% 64% United Air . 16% 16% United Corp. . 3% 4 Iinfterl Gas Imp 15% 15% U S Ind A1 . .40.. 40 U S Rubber . 13% 19% U S Smelt .. 105% 103% U 8 Steel . . 42% 48% Van Steel 15% 10 Warner Bros 5 5 Warren Bros ... 4 4% West Union 40? 42% West Iiiec . . 04% 95% Woolworth Co .. 62 61% Worth .. 17% 19% Yellow Truck .. 4 4%

(Canadian Press) MONTREAL, July iii-British and foreign exchange in relation to the Oansdisn dollar as com- pllod by the Royal Bank of Can- ada closed today as follows: Amtrallo pound 3.9020. Aarstrla schilling .1901. Bokhm beige. .1694

Saks bolga .1094. Snail milreis ~®51

China Kong Kcsg dollars 5252. Oleehdslovskis crown .0417. Denmark krone .2215 hams franc 006s. Nichsnurk 4044. y pound 4.9694. ‘lsgsdflorin ma.’ lhdis rupee ms

thr

the clas

the

the and the mad

DOC]!

Pl"

Five

he d fourt

class

was iiniiiri

three days racing in connection with the Provincial Exhibition which will be hold Tuesday, Wednesday and Thursday, August 20th, 21st and 22nd.

winning the most points during the meeting. point.

driver driving the fastest heat paced during the meet. a

as provided for below. 1n s race. except as provided for below. In cases two horses best the above records then the awards go to

period before the races and during the races so that no horse will become unsound or suffer injury and to enable them to make fast time.

Horsemen (providing they are racing exclusively at our meeting) by Wifliififfiirlfkiwlpeliie’ notifying as of their arrival will be met at train and baggage transferred to the ground without cost to them, also taken away without cost to them. Every eflnrt will be made to make the llorsemenh pleasant and send them sway feeling that they have

All races to be raced on the three heat plan; 10% of each purse will be awarded- to the winner. remainder will be divided into three equal parts, one

being three heat winners they shall race a fourth heat to determine the winner of the event, All purses divided 50, 25, 15 and 10. Entry fee 5%.

be deducted from the first and second horses, 3% will

Six horses to enter, four to start. Bight reserved to change program, Entry. or If entry appears to lay over flcld to the _ extent that there ls not, in the opinion of the man- agement, snflicient competition, then said entry may be transfe lfil: In a faster Class or entry fee refunded. bar any driver, and to declare race off on account of bad weather, or failing to obtain s satisfactory mun- bcr of entries or starters to transfer horses to another

_....._*~~<+...;:.s.:.>

l

. 011 aCCs I" 5':

Below will be found the announcement of classes, purses and conditions for‘ the i l

v l

Classe have been arranged to bring together the cream of the horses now racing 5:» oughout the Maritimes and to give the very best competition possible so that the

immense crowds who come to our race meets every year will go away pleased with tho program.

Even before the announcement of classes inquiries and entries were ccing In

from different parts of the Maritirnes and there is every assurance that this year will see a larger number of horses stabled at the grounds ‘than any year since 1920.

The new race stables replacing those which were destroyed by fire will be ready

for occupancy in about a week's time and this, together‘ with the ‘other stalls, will _ give ample accommodation for upwards of 100 horses. A large number of men are... now engaged in preparing the Exhibition grounds and no effort will be spared or expense either, to have the entire plant in the best possible condition. will get a final tuning up on the Friday, Saturday and Monday prior to the races the intention being to have it so fast that horses will acquire better records or rather put up better performances than they have ever done before. \