"AUGUST 1s. F150

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F

1 Hangs:gxsrcaa-z-gxgz-zéecaxgi-caz-car:

D I i i’ intern liasre

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511M . - gplrrva P-‘l

i Indugififll K1 Inlgfflfllll al Petroleum .

iiaatrrnl PM"? ucfnli Frontenac ‘ymnnai llrcweries

Market Reports

By GREENSHIELDS f! CO.. Montreal special to Stewart Jones & 00., Charlottetown i-i

‘ll;;i§:-:§:-:§:-:§:-:§:-:§n§xansxsx§n

Call money 2% Vi‘ MOXTREAL

crating ia (‘armada and the ("mini States to maintain at least a certain IWPPBMIIEQ of their equipment that is arnilable for interchange. After the end "t H"! rear. obviously. Canadian rail- \ra_vs. in transferring cars across the harder. will find it necessary to meet the rcquirements of the American Rail- way Association.

Of course new ardent] within the past two years has been based to a large extent in the ltnorv- ledge that. the new restrictions would apply. but whether as yct the Can- adian roads hare at their command a sufficient number of cars that will meet the interchange requirements is proh- lematir-al. lu railway Qquipmgnt 4-inch»; it is felt that additional orders of cars coming within the interchange ruling limits will he purchased hy the cnn. adlan roads during the balance of the year and in i031.

Gradual rerislon of rolling stock ra- quircments by transportation bodies is something that is making for a real betterment in the operating effective- ncss of railroads all over the continent

clfic

equipment

. h arional Nickel ..

yfiarrls . -- - - ~

_ _ ___ ___ ___ __ 4g This is being Productive of new busi-

i ,\l!lf\ll-1iB§£‘PnPzle Gar My’ ness for the equipment companies from

r Canada “mm: time to time and has already been ef-

l gsrifliimnhyrqr fectirely demonstrated in the past two am ‘

' ynmoi

timan I Winni

. l l-iw-d (‘as §§§Y§iil1_p~| l-"ilm lnrl.

_vears' actvities of the leading Cana- dian orgnnzations.

In connection with the foregoing it is interesting to note that freight cars ordered in the Fnited States in July numbered 1.3011 as against Till in June and 1'42 la July. i921). While no parallel can be drawn as to conditions in this country the development of business of this kind across the border may be 37 taken as an encouraging indication for

viv- Canadian car‘ manufacturing com- panics.

ltofernnce was made in this rerieiv a n7,‘ week or‘ so ago tn the importance of

lndia tn Goodycar Tire 6r Rubber Com- pany of Canada. as sn export market

r the company's products. and the curtailment in thc. company's sales there H In‘. as a rosnlt oi’ Ghandi's boycott of Brit- ‘ . ish goods. Ah idea of the extent of Canada's trade with lndin in tires anti

is Player

i..1.l'ri'.'."..i.".i:' NEW YORK

5 ' ' ' ' " ' ' " ' tubes mar be had from the Indian 1m» ‘y “Md Light " port figures for the fiscal year ended ~ gasr-uqdryih; - ' < - ~ m March am. use ' rt. r

' lsesrnstional Hydro Electric . " international Barf!!!" - - i Rcppfirfl"

\ roiucrr Ward ..

During this period Canada took first place in supplying lndiawith automo- bile tires and tubes. imports from this country being 144.304 cnrers rnlneil at Ittiflinflfl rupees. an increase over the previous year of 108000 tires or 4.843.- 37‘ rupees. Canada was also the larg-

llvidson Power . um Puiillx ..

Pwrflflii "i: BI~~ est shipper o! inner tuhrs with this Ptr-itk ""11 "l" - as.“ product valued at 1.234.774 rupees. At BMW ~ -k m,‘ par nt exchange the rupee is equivalent Sears llm-Ruc fRaG-iéééy - ~-.- “n” to fill cents Canadian currency and a 55'1""): H "13 ' A ' " n“ rough estimate of the ralue in Can- filtxlgizgklllffll" ‘"5. u ' 2R lndiasn dollars may he had by dividing lflfnw Truck ~ “ ' , gasp Fain" - Acrivz aoxn rarclzs firn-rfllllfltvrl - Ahitihi .. 5pc July1.1i'i58 m4 iJ-S-ifcrl - W155“ araii Pow 8pc OciLliiliil as _ Bell Tl‘! .. .. 5pc .\lar1.li'l5.'i 10116 BM“! n o Power .. so, pt‘ .\iar1.1ilfi0 an _ i". Stea .. F5 0 t l. 1941 D4 mt- Iif _\‘ov_1 Fcotlli . . ~ limp. n. .. 4v, p? Delusion as rllsnk or liontrral . . a“ r1 p. n. .. 5pc DecLlilS-l m4 link P» FQ-uiucrre - m Do 'r s- Ch .. ape JanLlil-iil ioi lflf-‘Ii 3-111» -- -* -' ' (‘iat Pow 5pc dtineLlilbfi M

IARRET REVIEW ‘FOR AUGUST l4 0

fiat Pow . ..

ilpc AprLliHl MW; (int Pow ..-

ilpc Jliniil-Xlflil 100

"3 llow sii-iitii . av, n.- Jiinriuavt arm,

.\i i Po a , nimovt iarn

QAF-"ll-b‘ MIT-WAY“ ngirilr Pot: an? .\iarr1.1ii70 10x12 .

A flfifll’ which may continue for some Tum ' "M ‘mm l‘ m“ mu‘

i no»

manufacturers of railway rnllinlu’ sttrlck and t-quiprncni. such as Canad an rlr k Foundry Company and National Ste}?! Q"? Pm‘- ‘ Car Corporation is the desire on t c ni- rr n.» ciiiarniii railway! to build :"““' 1;’: op ihcir nnulpmcnt available for lntr-r- ghlfg i" chasm- rv"h railwavs operating in thc llli- ~°"“' " Tnireri Fiaics As from the beginning ni ill-ii tho new ruling of the American llailwirs Association.

Tram . 415 pc AprLliwi 87V; Mont Tram .. Price Bros. ..

Y/v 1M in far-or of tho Canadian 5m ‘rifting; M

6 pr Feb l. 1M8 1111a; 5 pc Dec l. 10M lfll 411; pc Oct 1. 1M7 M Ale pc .\iar 1, 19M i’ 5 pc l-‘ebl. 1M0 101% 5'5 pc May 1. 1955 100i‘.-

DOBHNION GOVERNMEXT BOND!

Shaw Pow

prohibiting the

. 3 filfifi ine oi railways freight and other cars w" 5°!“ " " "’ iuguxn of u-ondcn construction. will become ef- W“ LnflInnfl" " "' 51% p.- 19.“ 1074,00 irrtirr- This rule stipulates that after ‘ifilll-l‘ ' "' " "' ‘ ‘

the c and.

.- . .- a 10am nri of the present rear no car of ‘"‘""'-‘ Vi" " '" '5" M "H

Ill wood construction will be acccpiml "mow Lon" " m‘: M lg“ 1min‘

hirtncr as.from the first of 10-14 R'"°“""' "' ‘u’; W’

. lfllfl lilIJ-‘l rm car of all wood undcrframc Pflilill‘ nflmndm‘ " " "' u, N . . hunt and defined as class E4. Will b6 R°mmnng " " 5W m“ 1mm

. lccrpind, lt is thr- ususi policy of railways op- Rflllndlllg " " "'

.. .. ... 4 1M4 9975 Refunding 4:22: w“, ma,‘

Maximum Protection For Them at

Minimum Cost to YOII

For the man desiring to aflord hi! flmflY the maximum of protection at the” IOWQ" possible cost, the “Dominion Select Policy ls ideal. p

The "Dominion Select” is a low-Pumflimz: high protection policy. William‘ “i! m‘ class risksonly. If you are in 80°‘! I” f’ this is the policy to solve your prob em c

protection for those dependent "P" YW-

oil!‘ Charlottetown Ofilce will slfldi?» f" without any obligation on your Plfl- m“ nlsh you with further details.

gnpoivnuiou 1.111;:

ASSURANCE (DMPA

lasso ornesi wsrsacce. 0"'*'"°

OUR CHARLOTTETOWN OFFICE: Bank of Nova‘ Scotia Building

I. A. MocKENZIE. Mani!"

'. (cm-a; Mortgage Bonds by a wide rim-tin cf

.:;;~_nrs ha. 1-5;

New York l i Exchange

.11

(Special to Johnston b Weed) O edHlgh Low liast;.\'t(‘h

Mil R N I N6 pp llflliii lETTER

n11,‘ Co", U; | i lung - It. Jiorning Stork Gossip Received by Al Chem .. “may, 24a 124a sis any. lroiinimm s- Wart] over their Private

i i a

Al-Ch 1 ..4 at i 51‘/.'i 50W 7"" — w. - m, 1930

Annexe m’ 7 ‘Hm ‘I1nVii=I¥§:;-+ Viire August 1 t

l2 i“? 'i'- 111111." 1" ii iii-lit i/f 1 atorvrmsnii. Que. Auz- Ila-HMS _ ‘(i

1-1 wit-u I

w‘ um W i yon the lccal market held steady yes- ziimzia 17:11-11 ii296|+a

terday in face of a highly irregular

Aub Auto mllualrniiin .10.‘. . his :' ‘n ‘narket in New York’ _

Bald Iioco ..| 21 | 18L L‘? ' '3 ‘r1 1 The local atmosphere lS one of pro- : 4'“ Alli” w i ' _ tection rather than buying and sell-

en r - -- - - . --» . m", 5m] u. mi mg, the only demand L..ng from in Briggs .. .. . 2o 1 211?... 1m, vesicxs. Liquidation from weak hold- f‘nl ti: Hec I l ‘ H- .

ers whose patience has been tried. Specualtlve accounts have been thor- oughly liquidated and securities pas-

Clan Pacific 2-174 I175 [lfifl ililil C ds Pasco .i i i i ~17 S ‘k Ohio Hi3 ilififll

Con! Gal ...il0.'il/;'| 10456.10!‘-

‘ v ll that even though it may take Cont Can . n15‘: [an |52 ‘ e

1 up; 1,; um. i 53

a great many but the speculstha trader can find very little encourflw ment in the days exhibits.

Miniature golf coursu in U. S. number 25.000 and represent invest- ment of $125,000,000 according to esti- mate of Dept. of Commerce.

Gdyr Rub Gra~Pslge

llutl Tel .. i}

Johns Man . ‘ NEW YORK, Aug 14_._Fufl;her de- {ff"‘;;;"..§..f. "1 i clincs were experienced during the lioerrs In ...' ' | first hall of yesterdays session. An b“; Bis (‘a .' 55 l 5T6; 55 i additional drive was undertaken m" T"""" " ‘ i "w bout noon on the Iron Age report of .\i t\\' a ..1 31w 3W‘ col. an +1 a ‘

.- 13, Hi | ‘y ) . '._ ‘ rliglitlyr lower stNl operations. The .\'.1t n I'm ..1 ' l short. interest however found offer- “ 1111:5122 ings scarce at. the lows which insti- . en .. r ». ' - . . _ 5- Am n, _i W‘. on’ r» tuted a covering moveimentdtl-iat car flu-k m. __ | P.0d larices above prev ous ays o ose. r-Am "a" A preliminary calculation of the low P" P‘? "- for the Dow Jones 30 industrials yes- pflfrpf“ __ terrlay yields 21_4.48. This is the sup- p s of .5‘ .1 . port level previously pointed out as Iiadin (‘or i.‘ - ‘being established on July 8th the g K o] "i 214.64. The rally followed compara- RIIQT". __'"i tively heavy volume on the rcuCtlOn r: min-ii .. ..,I and a period of quiet giving it the 5 “'"h""k character of usual automatic tech- " . nical rccovcrjw. The recovery could ex- cim (w, i tend scmexvbat further mfore meet.- S wen; .. “illill. yznav. ‘ :ing resistance.

P ii . .. ‘ ‘~ ' i

s flack a‘ m‘ ‘m; ‘_ "l, Laitllaw and Company s o of Cal ..i i - . ‘i; g s n nf ,\- ,r _,I my.‘ 1~ . NEW YORK. Aug. 13.-Wall Stree. Ftndebaker ' ‘ - -- ‘i miii-rcr says: Further rally will be 7"“ n‘ i ‘*3 " rcen today but this upturn should be TcxGF 119i’ s; I‘ _" P n It. Th" n n _i n4 lCoKEtl upcn a. ony a. ra y. is ‘i’ t‘ s- t‘ . . ' To ‘ Full.‘ 1W’- ; l; ‘kl-town that. some of the big shorts ‘I'm ""1" 29%,‘ 1'9 ' 5""? . have found that the short side is now j. “ma. m, " i author crtnvtled and have taken in l" I Rub ..! 20M‘ 201.‘ 1m,

r’ s .=...i' ism/gnaw 15s Van Ftoel H.154 Ji

w Frns (‘a _.' zsw 2014' 2:141 2:- West Talon .' ' ' ' - ...‘i-'l'\1/.‘i-ifl94‘1.'i5

West Else c financial wool C" - ~-' 5"“! 5""? 557' ril common was b: Worth P . ‘I'm ‘llllé l“ _ ,,. _ , ; ..

l‘ T s.- C 12m 31v, gnu gnr; _ .3 "n! the L5 lmei. A

" flnct. ~ issue whi:

supjrrt order u.-.- 1-‘. FiiO with the sponsors of . on the way to 35.,‘ This cur- t rollv will find much of this

lcr further drives

Hu-nnn against the Rich M" 111s bear party flush with . ulil make another effort to. ' ’ "‘ :_ "m: n71’: 1m pet twice: clown through the June‘ m ___ _ 103v, imv, inf‘. ‘law's in arc; effort. to bring about fur- _ , t c: liqui a .on. m’ ,',',' .2‘ l‘ ..': While the bulk of trading now has

n=~s ivorld but; reports continue to be very discouraging.

‘Wheat ————- ‘or; 1,3,2}: SUMMARY 4;“ Bank oi England discount rate un- i"?! ‘i changed 3'7. 111a New York stock exchange higl‘ i} speed ticker to be placed in opera Teacher (looking are’: Teddy's tlon Sept. 2.

M r _ __ fl f k C “Bus in e , l‘! “bu,” f" . ‘m3? p" on o ma e enue cars against 142.653 in preced- i-‘Y’ mm!’ m“??? R 1 ‘ single lng week and 173,400 in like w. Trddy (WW y —" so‘. a iveek. person, teacher. Father h€~,-'9\l 111%‘ Drought analysis which crop an'

|_ ___. i

when we look back . . . .

In 1910. when Canada's total power development wsl i considerably less than one million horsclwwfl‘ P" yen, it seemed vastly inconceivable that twenty years hence it wood total close to six million horsepower. In ~ 1810 who would have dreamed that one do! "I! 49' mend for power in Canada would be so If!" "l" both industry and government would contract for it year: before it was actually developed?

Yet today the Ontario Power service Corporation i! developing 275.000 more horsepower to add to Can- ada's already vast supply. And this power has been contracted for at prices which will cover interest charges on the. Company's $20,000,000 - 5‘é% F!!!‘

safety. We recommend these bonds for sound in- vsstment at 94.22 and interest to yield 6%- Dflilllfii information on request

I i Eastern Securities Company 1 |

. I l | , l I LIMITED i w. n. v. DUNBAB. Manson. l

casaLor-rarows |

n. JOIN Mourns/u. anus-ax i

MONCTON susnarzasms snsrmatcroa

-j-;,/

rrug‘ CliARLQTTl-ITOWQYMG_UARDIAN

(‘hi-rs W» -< sea into the hands of those who pur- ""l "PM" - 1 chased ivmi the intention of holding‘ 3.3mm 57 l ' for an indeilnit/e period knowing full

‘some time, the market will improve g

g““;i‘rigr;l't° 8m. s“? “i” S‘??? iwhen the present period of depres-I - . .. _ . p,“- ch95; __| | slon comes toIatt-i end. f _ _ _ i‘. l llilpnnt .‘1Ml' ms The genera enor o opinions 1s i"? & l" $2,!‘ M’ _ one of cautlousness and one letter

r" “" ' ' having little F, F" W. 41.7. L. H. w: ,1. 11-, speaks of the market as Frexe Te‘: H.140 411.1401; 411.4114 ammunition on which to stage any Gen Arab ---i 40H. 41". 4°“; ijflrfl‘: real advance. Accumulation of the gigan- "1| 67 [I “'5' 06m 9”‘ t“ high grade dividend paying securitlfl n", M, __ f] 43w ‘ at present levels is being stressed l1! Gen R S .. ‘ 741-‘;

. cf the short lines for the time i _ . f‘

1m stock being sold in prepara- 1

"M", 94s., mu, oar, its origin in professional quarter: i\lf\\' . ... on“, 03H 95 there is enough liquidation from out- i om , side sources to embolden the bears to i112‘ _ try and force a renewal of real sel- uirri."..‘."..'." .'.I. we 4m. out ling. wrist is needed at this stage is iiriy 47% 46% 41's some optimistic newts from the busi-

TOCK AND BOND QU

market board of agriculture dept. was preparing for today's release has been held up and will be issued in a day or two.

Weston Electrical instrument cor- poration ln first six months earned $2.65 a share on 50,000 class A and $2.15 a share on 146.600 common shares against $2.49 a. share on 65,000 class A and $1.95 s. share on 150,000 common shares in first half 192B.

3O industrlals, high, 22135; low, 214.49; last 220.35; up 3.11.

20 rolls, high, 1272i; low, 126.05; last, 126.92; up 0.18.

Forecasts and Factors-A further extension of the rally is expected to- day although prices may ease a lit- tle before the close.

Hutton er C0.—There are still plen- ty of stocks o! the better clas that seem high and apparently stock buy- ers are waiting for complete final liquidation in all groups before re- entering the market as buyers.

Frazier Jelke-Whlle from a. short pull standpoint lower prices trend are i i in danger of getting aboard on over-

i i |

New York. Aug. IL-Wall s17" Advisory saysz-The rugged resist.- Nlce shown by the market just above the June lows as measured by the Do! Jones industrlals averages stim- ulated a. short covering movement WhIQ practically taoincided with the release of the unfavorable Iron Age report.

Thus while some market observers may feel that the list showed great technical strength in the lace of poor steel report and further price cuts in the motor industry it seems to us that what actually happened was that the-larger shorts impressed with the earlier resistance of the market, took advantage of this bearish news to take part. of their short lines. From a trading standpoint this gives the bears additional ammunition to use as soon as the present rally shows signs of culminating. Right now, as a. result of the business depression having been heightened by the drought and the fact that the public in consequence is showing a greater disposition to sell than buy the only temporary stimulus that can be giv- en to the market is by way of squeez- ing the shorts 1n stocks where the bear position is overcrowded. "The uestion then ls whether the present rally should be followed with buying orders or tirhether the list should be allowed further opportunity to dem- critrate the soundness of its recuper- atlve powers.

We think the latter course most prudent of the two.

GRAIN Liverpool opened 11-8 lower; 12:15 p. m. 1 lower.

NEW YCRK. Aug. Ii-Price move-

lrregularlty ., confused sentiment prevailing in '11:; circles regardlng the " "lint: s cculative o lo"

in ariticzpatien of a t _E2lling of this char." iby further csverir; - lrvere made crtutlcus ‘.~-~ mfiective support tfi t rm . Wednesdmvls ririvc. , operators caused m‘: ~ in early dealings vain I Imcstly ccnfined t: a l‘ [Strel sold off half t’: f" ' ililcctric gained h-ii‘ t~ riber leaders showed c"" ' variations from Weir“

i

, e yesterday th liwere backed ‘up by; .graln markcts and ports from the er“

lJlCbJbij,‘ v.11] be

1nd

‘. grflvl deal cf increased d ' l‘! *1 tnc

mt discernzue . ' opinions which "It .l are not to be CTTTl.‘.'.' 1s tn 5o short of the m..." s‘. or , tloning the intrinsic vii-ac of se. cned leaders for ion; range ' ittments. The generally good of yuterdsyls msrlret suggests "i further improvement in near ' Ire is probable but would be wary it following up strength "until c is more evidence that the ini- t ~riva is firming in the possession o! re constructive element. Livingston and Ccmpany

Tke Montreal

loaded band wagon. |

Stock Exchange i

(special to Johnston k Ward)

Sales Stock Openliigh Low l.1s'_ 33% Ahitibi i . 21M ma Brazilian .. .. 33% 3514 8-5 ' fiflir i Mflrnrnpton . ..' I I ‘ '3'": ‘Building Pro .' I I 29 545‘ C C k Fdy 2014' 20W m‘ '1'" fiildo I'M. ...' 2H f.“ '25‘ 1V5 azzcari Cement ..' i4 I 1414' ‘l4 14 1001f‘ lad Alco ...i l I I 5

tar-cc Pac New 49514.11; 4i ' 41

iascans st a s .. _ if" Dom Bridge ..' sou, MW; fill/t g2“: M! Dom Textile T4 H r-‘iln ll‘)