"imrn: you: 1s. 1930 a w THE vvrrummu o! " Greenshields 8, c5, ~ umem a m alum-n: smr scum.“ i! firm Gown st. Charlottetown Stewart Jones 8, Cg, W. C. PITFIELD & COMPANY Investment Securities Heed Ofiee: Montreal _ FREDLBOURKE Dhtrlatkapveaeamiea l, cluanorrnowu / _ mggmonlu- vii-loco x‘ -\ -2 mo; Ofieet;107-109 Bollia sow VARMUVE ‘NJIONIU UITAWA QKIC IAINTIOBN DOIDON, ENG. ;'__._ BOND PRICES yesterday, today and tomorrow TWO YEARS AGO bond p oea reached their poet war peak. Beginning early in 928 the rapidly increasing interest in the stock marketing-an us arrest this up- ward trend in bond prices which caused a complete reversal of the movement. For a you and a half fol- lowing the early part of 1928 the demand for bonds decreased until prices reached their lowest point since 1925. ‘ ' TODAY bond prices have not advanced substantially above their low level o! 1929. While it is always a good time to buy bonds. present market conditions are especially favorable for bond ‘ ‘ and may , auch ‘ ‘ confident that the outlook for prieea is higher. M” we auggest issues to flt your requirements from our well diversified July Ulfering List? A copy will be gladly sent on request. Eastern Securities Company ~ Ll MlTED W. H. V. DUNBAR-i MANAGER. CHARLOTTETOWN ST. 10% MONTREAL HALIFAX MONCTON SUBDHE RSTDE FREDEBICTON 23C v a ' n Q \' MB. W. CHESTER. 5. McLUBE Conservative Candidate For Queen's Mr. W. Chester S. McLuze, Char- lottetown are household words wher- ever foxes are bred or furs sold. He is as well known and popular in the iur trade of London, England, New York, Chicago, Philadelphia, Montreal and Toronto as he is in his native Province. “Chesterfl as he is popular- ly known, has risen to preeminence in business and public life by mean: of sheer ability, determination and enlightened vision. He always has seen beyond the present and worked for the future. Educated at the far- famed Prince oi Wales College, he taught school for a while and then entered business as a dry-goods clerk, ,specdily blossoming into an ambas- Isador oi trade on his own account, ‘ in which he developed a remunerstive business. He was one of the first to see the great possibilitis oi domestic breeding of silver foxes, and entered upon that industry with zest and en- terprise in 1912, at; s. time when most. people were looking upon it as a bub- ble soon to be pricked. Today he is still in that business, known far and wide as the "dean of the fur trade." In addition to owning the Vimy» Fox Ranch in company with his equally enterprising and resourceful partner, Col. D. A. MccKinnon. D. S. 0., he is along with the colonel representative of tile Hudson's Bay Company for which Messrs. McLure and MacKin- non have built up a most lucrative and‘steadily growing business in the Maritimes. MrJMcLure is in public life not so much because he sought it but because it sought him. In 1911 when he was in New York on t. busi- ness trip, the Conservative Party of MONTREAL STOCK' EXCHANGE Smelters --. |Steel of Canada Market reports furnished by Green Stsel oi’ Canada Pfd ... ... ... shields & Co. Montreal, to Stewart SImOYl-l --- Jute; l: Co, 88 Great George Street, Winnlpet Bled?“ -- Charlrrtetov-n. i u- u. .- Quoted at. closing. July 14, 1930. ‘NEW YORK 510N155“, American Can ... Abitibi . ...’... 25% Allegheny... ... ... ... Alberta Pacific Grain . 14 Anaconda Lbestcs DBendix Aviation - Brazilian ... ... 40'§'C0!1-901ld31lfid G95 i - --- '" B A 011,, ,__ ,,, ... .. 167i_Consolldated Film Ind. ... ... B. c. Power 3'1 Commercial-Solvents -- Building Products .. 22 Dominion Stores Canada Oar 2o Electric Powerdz Light Canada Cement liGeneral Milli!“ ~ Canada Power and-Paper lklnternational H9410 Elw- Canada Brewing .. Bfimternstioxial Hsrvesrer -- Dominion Bridge Foreign Power Securities v bfiéflfennewtt copper -- 25 Montgomery Ward ... u. Frans-r Company 8 Niagara 31155071 P°W°Y "' Cweneral Steel Wares ‘ll/tjaramount Pubiix Home Oil .... .... 4.00'P0Ol' dc C0. B. ... --- --- '- Imperial Oil . 20‘6,Penlck&l"ord Pdustrial Alcohol 4% Radio . . . . .. .-- zslflsem Roebuck . . . . . . . .. 18% Standard Oil of New Jersey ~- 25% Studebaker International Nickel lot/emotional Petroleum . Massey Harris .. Montreal Power btityellow Truck . bicColl likontcnac 19 Fox Films National Steel Car 45 C. P. R. -- Canada Bronze .. 39%,General Motors Canada Malting ... ... ... .. 16 U‘ S. Steel . . . . .. Dominion Tar 15 Plmous Players 44 35m“ Noranda 93% Power Corporation .. 69,B|.nk oi Nova Scotla Price Bros. ... 63 Bonk of Montreal --- ~- Duebec Power 55‘4|B8fl\< 0i Qlmmu“ "' "' "‘ Ehawinigon 671.4 Rfiyal Bank Agflvl QQND PRICES Abitibi . . . . . . . . . . . . 5% July 1 1953 Beauhuncls Power 6% 1 1951 Bell Telephone 5% Mar. l 1955 s. c. Power . FW-“i ""4195" Canada Steamship 6% Oct. 1 1941 c p_ R m Dec. 1 1054 c p. n. ...... met mo. 1 1954 Dom. T. s; Chem. M, Jan. 2 1949 6mm,“ pow"- _ 5% June i 1956 G"'neou Power - 5"” AP" 1 m“ Gstlneau Power m, Jur.o151941 Howard Smith 5‘6% June 111953 Montreal rower 5'6 0W '- 1951 Montreal Power 5% Mar.1l9’l0 Montreal ‘iramwaya 5% Jilly 1 1941 Montreal ‘Prunwlys so. Apr. 1 1955 ilontrtsl Tramway; M’? Mil‘- 1 1955 Montrealrramwaya 4W1, APT- 1 "55 Price Bros. 6% Feb. 1 1948 Quebec Power . t"; Dec. 1 1963 Ffiavinigan Power 047's QCQ- 1 1957 Fmwinlgan Power 5% 795- 1 197° Fwunuin Power 04% lw- 1 I"! May 1 i062 199 5.4 42 36 30 39 7S 126% 23% 49% I 31% 111 19V: 25% 19% 9215 45% 37% 83 38% 35% 1714 491‘: 21 lvictory Loan . tti-lfiyvictory Loan . . . . . 40% 68"; 72% 32"’; 27-31 45 18'7".- 4 163% 315 293 213 290 103 ’4\ 9'! Queen's County, wired him offering to submit his name for nomination at the then forthcoming convention. At that time he could not see his way clear to accept this flattering ofier, but later consented to run for the Provincial Legislature for the city, {and was elected.’ In 1927, when the ‘ Liberal sweep of the Province occur- red, Mr. McLure was one of the few survivors retaining his seat along with Hon. Dr. W, J. MacMillan, At the [last Queen's County Conservative i Convention, he along with Hon. John H. Myers. was unanimously chosen to carry the party colors at this general election. A Dutch company is producing nearly one-third of the oil output. of lVl/zxico. War Loan War Loan_ . . . . . . i Victory Loon . I Renewal I Ref unding jftt-funding l Refunding ‘l Refunding l 3 MARKET REVIEW smaller than in the previous week, a favorable trend WB-s again observ- Eable in relation to the price level of ‘stock averagm. The drop oi $16.00!).- ‘000 or about one half porcent in loans was accompanied by M‘! 111' crease oi 4.1 points or 2 l-i Powell in Standard Statistics averalle 0f 9° stocks from 160 to 164.9. Following upon the previous week, when a de- crease of about 5 percent in brokers’ loans was accompanied by l l‘!!! 0f about 5 percent in the event's it is considered that the technical pos- ltlon o: the market u improvin! and that. stocks are passing into stronger hands. During the past five weeks, broker- age loans have dropped almost 8900,- oo0,000 and at their present level of ea.2oa,ooo.ooo they are down over 50 raeroent from the peak of $5.304 900-- 000 touched on October 2nd, 1929, and are at the lowest levels in nearly thrze years. The decline in commodity prices which has been getting world-wide attention has so far rot materially reduced r:t.ail prices. This is indic- ared by the index numbsi-s made a- vailable by the Dominion Bureau of clnslua STlitKlETTER MORNING STOCK GOSSIP RE- CEIVED BY JOHNSTON AND WARD OVER THEIR PRIV- ATE WIRE JULY 12th MONTREAL, Que, July lz-Csn- ads Steamships common and pre- ferred were outstanding weak feat- ures in yesterdays trading. The com- mon touched l2 and on: has to get back to 192B before a lower level is discovered. The preferred at 38 is a new record low. The halano? oi the list was quiet with changes again oi a negligible character. The weakness in the steamship is- sues. particularly the psrielrred is due to an expressed feeling on the part of the brokerage firms and the press that the failure of a free movement in Canadian grain with a consequent loss in revenue to the company may result in either a cut or elimination of the preferred div- idend. The last quarterly payment was made on July 2nd so that the nevt one is not due until October ities in the agricultural life of Queens County. A successful farmer. he has taken an active part in the various orgpnlzations, keen interest public affairs CHAQLOTTETWWN GUARDIAN 1 ..- ' MR. JOHN H. MYERS Conservative Candidate for Queen's Mr. John H. Myers is one of the most- popular and powerful personal- and followed with in the (h. ' u... . '1 i up" l l_ That was eleven years ago. Daddy had not counted on _THIS little chap of twelve, hawking papers in the midst of the city's mael- strom, his clothes i.n_ tatters, dying, you see. But he did die-died at the wrong time 1st. In the interval a great dral can happen and should conditiozzs 1m prove as many believe. particularly in the Caandian wheat situation. the company would be able to main- tain preferred dividends. The weaknea of the steamship is- sues no doubt affected general sen- timent, the firm tome of New York finding practically no reflection here. Sentiment in Wall Street has born et to move ahead in recent sesions but oonservafdve observers are main- taining their policy of keeping clients on the side lines. They believe that the market is having a. technical correction and when short covering is completed new attacks may be made by the bears. Little need be expected of todays short session. Some selling undoubt- edly will be seen and further effort test out the June lows. Advantage e should be taken of the weak spots c for buying stocks either for quick c trading turns or for the long pull. The prices for stocks that have been registered on this weeks rally may be the tops for the month but what will undoubtedly be seen is a series of ups and downs with pric- es stopping just short of the June lows and on each recovery rally slightly above the prices seen this week. The market this past week has ignored what a. month ago would have been considered exceptionally bad news. This shows that the trad- irg fraternity is becoming immune to bearish items. stocks yesterday, ignored. for instance, another sinking spell in wheat. A curious frame of mind has developed among Chicago traders. They continue to look for much lower prio-s for farm products but declare that stocks at current levels are not a short sale. ' If you have trading profits take them on this rally and be in a. pos- ition to take advantage of any sink- ing spells that an: likely to develop over the next rro weeks. O C 3 B. awake progressive farmer. the name he is familiarly known by, is of a genial disposition, liked by everybody. He is one of the best in- formed, most resourceful platform improved by the ability of the mark- Speakers i" will“ tvday- His elo- quence impressed both Mr. Meighen and Mr. Bennett when they heard him. One of the recently described him as “one or the most outstanding figures in politics in the Province today," adding that "there were no heights to which he could not rise given the opportunity." Mr. Myers has been in politics since 1912, when he was returned to repre- WALL STREET M13305 sent the first district of Queens in the local legislature. Agriculture in the Stewart Govern- ment, and 1926 to contest Queens at the Wm l” made m the m" 111mm 9° then general elections. On the pros- tory. ‘ has reduced rediscount rate to 3 1-2 percent from .4 ptrcent. quarterly dividends of 87 1-2 cents B stocks. May. 1929. Five months $3,380,342 a- ivc today, will restore gasoline pric- es to the basis maintained lac-fore the gasoline price war started. ed 428 against 435 previous work of five working days and 490 two weeks agement to recommend to directors Province and in the Dominion. Born at Hampton in 1880 he graduated from Prince of Wales College in 1899. Since then he has devoted him- self to the development of “his pa- ternal acres" at Hampton-m wide "John", leading Liberals He was Minister of and was mlectkd in 1921, nt occasion he was the unanimous hoice. along xvith Mr. McLure, to arry the Conservative colors to vio. -—-—i_-.-. SUMIVIARY Fbderal Rcsreve Banks of Atlanta, Radio Corporation declares regular r. preferred A and $1.25 0,1 preferred Wosttrn Union May operating in- ome $825,914, against $1,322,766 in airlst $6,331,346. Standard Oil oi California, effect- Failures in the past week number- go. Trans American Corporation man- his eyes eager and shifty, his voice hoarse with shouting —-can you see the tragedy of his life P He left, school at ten tohelp earn bread for his mother and brothers. i Yet, Daddy had great hopes for him. Looking down at the wee baby face he had before his plans had worked out. Are you willing to take a chance like that with your wife and little ones? An Imperial Monthly Income Policy will safeguard them from a danger you dare not ignore. - " Just write your name and ad- dress on the coupon and mail __: said: I’ll give th 1 d d , .3 start in life-a llaft 11115230 a? ‘gtolgléfiflylfiillfeaglgm’ f first rung of the ladder.” i an about in g u‘ COUPON THE IMPERIAL LIFE __m ASSURANCE COMPANY of CANADA ‘ ...... ...... ' asap omca a roaouro. ONTARIO ,,,,‘;';;'f‘",.‘,32,-‘:;‘ “"""‘" ,3 Branch Ofiee: . 1s Queen st, CHARLOTIETOWN * I i“ $ , , an extract of corpus lutcum, a sex overcoming sterility. The - ills Havlng Animals hormone. Isolation of this extract merits with the hormone we dye- _ “ ” was announced at these Laboratones scribed by Dr. Reginald G. n15, rn f a year ago. and today some of its director of the Laboratory 1 i U! - first results were made public at a Dr. George W. Corner of the! zhee¢ COLD SPRINGS HARBOR, N. Y.. lecture before a gathering of scien- tar, N. Y, Medical School. D‘ Hap- July lz-A method of having animals tists. Delaying births gives scientists ris, with Dr. J. J. Piiffner - .‘ the icon-f “older," and less helpless was o means of investigating why some Laboratory, isolated one of t‘ 1 sq"- disclclsed today at the Cold Springs young are born almost entirely help- pus luteum extracts a. year a; while Dr. Corner and Willard M. A.‘ .1 lated the other. Both scam z. q‘! purity and similar effect. less and others are able to care ‘for themselves almost from the first. The extract also shop's results in Harbor Biological Laboratory. Births aredelayed, and apparent- ly to the benefit of the young, by up‘. I ..< Breeding by the Millions » Hatched in Unspecfllcablc F Drcncliccl with Dreadful, Disclose-Carrying A§ctelio W15; DOMINION GOVERNMENT BONDS 5% 193i 101.00 5'11 1937 i03.75 5'27: 1933 102.55 5‘~’.-% 1934 102.50 5'».- "é 1937 107.25 5“:"'i= 1932 101.50 4% "I: 1940 98.25 5'3 1043 102.65 4H1 1944 98.35 4H "i: 1946 98.35 June. While the index of wholesale I While the decrease in New York'prices last month was B80 as against brokerage loans last week was much'93.5 in June, 1929, a, decrease of l- bout 6 percent the index number o! retail prices last month stood 100.3 as against 99.0 in June of last yearqan increase of over l percent. at BRITISH AMERICAN OIL In common with other petroleum stocks 0:1 the Canadian exchanges, the shares of British American Oil Company, Limited, have given a rel- betfer position than it has been in some tune. b ticularly as regards the public l6 well as the newer recruits to the trad- that October quarterly dividend be reduced to 25 cents from 40oents, oon solldated net income for year ended Decemivr 31st, 1929 was $67,316,309 after depreciation etc. 30 industrials high 228.65 low. 223.97 last 224.86. off 2.53. 20 rails high 132.42, 19st 131.86. off 0.42. low. 131.58. WALL STREET ADVISORY Following Thursdays flourish. the market has undergone. "a day on the side." Some additional irregularit- ies may h? encountered today and may carry over into Monday... After the days in which the aver- ages have gained something like nine pcints, trading setbacks are f0 be rxpc""l if for no other reason than to lzwp the market in a satis- factory technical condition. On the whole. the list is in a. far There is a school of thought. par- atively good account of themselves. holding within a narrow price range. This may perhaps be attributed to the fact that the company as among those which have experienced satis- factory results and increasing bus- iness this year in the iacs of keen competition. While progress of this company may be retarded by the cur- rent business recession, it is believed that thzre is ample scope for fur- ther extension in the future. Current levsl of 1'! indicates a yield this development it is invariably well on its way up in the process of dis- counting improving businrss pros- pects. ing fraternity, that the market can not turn up until the very last. of business depression has been seen. Experience has proven. however. that the market does not wait until the last piece of unfavorable news is out of the way. in fact. before the market is actually abreast of The resistance shown this week. F LY- KILLS 114a fizlALL ‘I-‘hese filthy, biting, stinging pests are everywhere. Con- taminating food. Spreading diseases. Causing deaths. Be protected. Have FLY-TOX handy. This fragrant, cleanly spray is fatal to insects, but harmless to people. There is only one FLY-TOX. Refuse substitutes. Insist on genuine of about 4% percent based on the dividend of 80 cents per share. This yield is somewhat higher than usual for the shares of this company, the low yield in the past has been com- pensated by market appreciation and by "rights" and split-ups. mlfifililll!" Wl/eflnl m9 mm“! 03 Bland’: uni-m aivea nun mm. plus the tendency of the list to move forward at the slightest lifting of pressure appear to confirm the fact. previously outlined. that the steady stream of cheap money which has been pumped into financial and bua- ~ truss arteries as a resul‘. of the pro-.- ent liberal federal re:erve policies is starting to eioert a. beneficial effect. FLY-TOX . . . Every bottle guaranteed. - --_---» --*1-- ~w~_-_. 1 } l_ IPLY-TOX was developed at Mellon Institute of Induatrial Research by Rex Research Fellowship. FLY-TU! la rnanuldamred b? . Quad: Ra: Spray Co" Limited. Brighton. Ont. ABSOLUTELLQARMLESSJO trout AND A, Ni-LS i