{ title: 'The sun. (New York [N.Y.]) 1916-1920, November 25, 1919, Page 10, Image 10', download_links: [ { link: 'http://www.loc.gov/rss/ndnp/ndnp.xml', label: 'application/rss+xml', meta: 'News about NYS Historic Newspapers - RSS Feed', }, { link: '/lccn/sn83030431/1919-11-25/ed-1/seq-10/png/', label: 'image/png', meta: '', }, { link: '/lccn/sn83030431/1919-11-25/ed-1/seq-10.pdf', label: 'application/pdf', meta: '', }, { link: '/lccn/sn83030431/1919-11-25/ed-1/seq-10/ocr.xml', label: 'application/xml', meta: '', }, { link: '/lccn/sn83030431/1919-11-25/ed-1/seq-10/ocr.txt', label: 'text/plain', meta: '', }, ] }
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A 0 V s 10 f Canadian Government and Municipal Bonds Wood, Gundy & Company INCORPORATED 14 Wall Street. New York TORONTO MOrTTKKAL LONDON Position of hip aid Pipir Seeirities Can the present year's upward trend be explained by the speculative element of the market or ia it due to recognition of the intrinsic merits of the securities? Our special circular \Tho Possi- bilities of Pulp and Paper Securities\ discusses this question. May we send it? Take advantage of the present premium1 of 3 to 4 on United States funds in Canada. (iraham,8anson&(6. V INVESTMENT BANKERS V Mea-b- Toronto Stock Etchings TORONTO, CANADA BUY the new Canadian Government Vic- tory Loans and take advantage of the high ex- change rate to get a safe income return of 6 to according . to maturity. WrEt as for pertlcatat F.B.McCtordy&Co. Mmim, Monttttl Sltck, Eubw 138 St. James Street. , Montreal, Canada. Miller & Co. YaSlxk, Ex:hanp 120 Broadway NEW YORK Accurate Markets Quoted on Canadian Securities Direct Private Win to Fairbanks, Gosselin & Co. I Montreal, Canada. Bonds Safeguarded by tha Canadian Governmeat and its Province!, Towns & Cities gelding up to 6 Stndforew tfjtrlnjlld GH. Burgess & Co. Bank of Hamilton Building TORONTO uiiiiiiiiiiiiiimiiiiiiiiiiiimiiiiiiiiih1 3 . R. Ryan. C B. Qrier. .0. Hazing: 3 I Ryan,Grier I Hastings ; 3 Members SMontre S Slock Exchange' a 3 Direct wtrej with g I rlirjoUilienllultCi.l M S Uembers New Tork Stock Exchange. S 3 1 Broadway. New York. 3 3 Bowling Oraen 1710. 3 Montreal 3 30 Hospital treet f 2 Sisln 1495 Toronto 33 Melinda STeet AoeUlde 2246-- 7 Dirtct \Private Wire Btfcten -- \\\\ mm rtorttreaJ. Toronto Now York i I , .3 ' Canadian Financial Notes. Th annual ataUmont of the Bank of Montreal for the flacal year to October 31 la tha tint to be Issued for a full lyear since tha armistice. On thla account It contalna many changes that Indicate a gradual of apaclal Government undertak-ing- a of tha war period and a marked panalon In the ceneral Dullness of the Among the ouUtandlnc feature of the autament now solnc forward to aharehold-er- a la the increaae In current lona and In Canada, and the continued Mrie Increaaa In Intereat bearing depoilte. Tnee would aeem to Indicate that tha Canadian people are steadily addlns to their savings. In tha laat alx montha et tha year tha gain In satlnsa deposits amounted to approxl-matel- y I44,0jf,000. An analyela of tha general statement of aaieta and llahtlltlea show that the bank la In an excellent poiltlon to help the coun- try through tho period when the whole world haa to meet ao many unforeaeen financial prot-leroe- . With the adjustment of accounts fallowing the war flerlod there la. of neceeslty. a decrease In total aetata, aa compared with a year ago, hut a marked Sain la reported, aa 'compared with the aU montha of the prei.nl fiscal year. Total aaaela now stand at tStS.30l.S0B. compared with I55M1I,G8. t the end of 1313, and with 1181.211,197 on April JO laat. Aa uiual, the bank haa consistently maintained a' very atrong liquid poiltlon. Uauld aaieta amount to tS17.l80.IH, and are equal to 37.33 per cent, of the Uablll tlea to tha public. In the liquid aeeeta tha principal accounta ahowing changea are Dominion notca, which now atand at 149,145, 151. down from 363,931,333 a year ago. and Call and abort loans In Oreat Britain and United Statee, which now jmount to 173,313,623. as against I7,0.S43 at the end. of last year, .a the aame time there haa' been an In creaae In tho holding, of Dominion and Provincial aovarnment tecurttlee to aa compared, with 146,370.336 a year ago, reflecting the aaalatance tha bank has glrea the aovarnment The expansion of trade and commerce In the country la Indicated ty an Increase In the total of loans and discounts amounting to 1164,113,131. up from lll,g:i,lll at the end of laat year. Since the close of tho laat fiscal year the bank baa also completed the absorption of the Bank of British North America, with- out Inconvenience to the public and both capital stock and rest account have been Incres.ed to JJO.oeo.OOO respectively, aa compared with 114,000,000. The profit and losa account. In turn, reflects the larger business handled, the total profits far the year amounting to IJ.Jll.lS7. Tha per- centage earned on capital. la 11.57 per cent. Qreham, Sanson A Co., Investment bankers of Toronto, have leeued a highly Interesting and Important special circu- lar relative to the present situation of ihe pulp and paper Industry of Canada and giving a brief summary of Its de- velopment. tp to the present time life Insurance companies have been prohibited from writing group Insurance In' Canada, but In view of tha constantly Increasing demand for tills form of Insurance the Insurance Department of tha Dominion has) now per. milted It to be written. Tha eld taw of demand and aupply re. nalns. From the world's viewpoint and world conditions affect all prices there Is etlll a scarcity of moat of the things the .so rid wants. Not until the ecarclty Is succeeded by abundaoce can we expect thlnga to be cheaper. Even when abun- dance comes It will b a long while be- fore prices can get back to the old level. Indeed a return to the old conditions Is i.llher to ba expoctad nor desired. Tho whole world's standard of living has been advanced, and only that part of It which la mulfeetly extravagant and wasteful can be remedied. \Produce produce,\ Is etlll the watchword. And we may as well make .p our mlnda to bear for soma time to mi, with whatever equanimity li pos slble, tha burden of the high cost of living. \Journal of Commerce,\ Montreal. Arrangements have been completed whereby the II. A. Wood Manufacturing Company have secured the large cannery building In Belleville, Ontario, and will Immediately commence Installing machin- ery for the manufacture of automobile salves and other valvee for high pressure work. The company owna the Canadian rlghta of the Wood Airtight Vatve Company, Ltd.. and la capitalised at 11,000.000. It la expected that too employeea will be en- gaged when the factory la going to Its full capacity. Canada Is developing quite a frozen meat u.u, wiiu uuiuyi.u iiuuiiuiv., uv tea . kan K Art. h.l.. am lh. V . ... Ors.ce. Shipments have been made to Italy during the last year, but those to Oreeco are very recent business. Tha British Controlled Oilfields, targa new British corporation having an author- ised capitalisation of 140,000,000, is being Incorporated in Canada because or the faot that securities named In dollars aeem to be better understood In America, as well as In a number of European oountrlea. Thla la the explanation recently given for the corporation's action by E. Uackay Edgar, a former Canadian, who la promi- nently Identified with the corporation. It has large properties In V.n.iuela, Coat nica, Ecuador, Trinidad and Colombia. Ontario municipalities hare built 1.800 houses under ths Government housing scheme, which waa launched through ths setting aside by the Dominion Parliament of 111,000,000 In the form of loans to tho provinces. It Is believed that next year Ontario will build 4,000 houaee under simi- lar conditions. Ths Alberta Flour Mills, Ltd of Cal- gary, a 11,000,000 enterprise. Is now being financed. Dehlnd it are aome of ths moat prominent Calgary cttlsens. Tha recent order given to Canadian miller for 500,-00- 0 barrele of flour for export li valued at 15,111,000, and the magnitude or thla slngls order Indicates what Is th field for Canadian milting. It la also worthy of nots that a of this 300,00(1 barrel production le over 10,000,100 pounds of mill feed. Announcement has been made tn Port Arthur, Ontario, of the completion of for the establishment at tho north oily limits of Port Arthur of a pulp and paper Industry with an Invest- ment of S. 000,000. Tho company Is to be known as the Oreat Lakes Pulp and Paper Company and Its president Is Lewis U Aisled of Appllton, Wis., with whom Is associated George Seaman of Chicago and Jamee Whalen of Port Arthur. The plant will cover 100 aorta. 'The ground wood mill will have a capacity of SO.000 tons a year, the sulphide mill nf 7(1 000 tons and tha Lewie print mill 85,000 tons. The engineer In charge of construction will be Hardy Ferguson of New Tork. In order to asstit the farmers of the province of Beskatchewan In making a start with sheep and to Increase the num. ber at sheep In the province the Sask- atchewan Department of Agrlcalture has purchased nearly two thousaad young grads ewes, which ara now offered for sale on eaab or credit terms. In addition to this J, O. rtobertson. Lira Stock Commie-otou- er for Saskatchewan. It leaving sSortly for Ontario and th Eastern But to pur- chase chela rartt and twos for Saikat. chevas farmers who wish to Improve their Socks. Industrially Canada la not marklnr time. From all part of th country come inttma. tlont that manufacturing capacity Is on th Increase. Tiers a new plant Is be. tng established! then an existing factory Is feeing enlarged. Taken tn th agar. gat thaee new davelopments constitute n Impeiteg total total iat inspire eonnatne tn in industrial future of the Dominion. Industrial Canada. Ttrrvorte received from Canada state that important changes may be made tn the tariff rate In th near future, and Ameri- can burlnees men about to make contracts with th Dominion for either imports or exportt ara being advised to hav the a- eoschtd tn eneh term aa will pro- tect them against poiilble thangfi In tariff ratea The Canadian Food Board has purchased prsetlcally the entire out. ptft of xnrar' Is 'tht Dominican ReDublla DOMINION STEEL ISSUES NEW STOCK 50,000 Shores Token by Brit- ish Interests at $70 a Share. WILL BUILD STEAMSHIPS Pope Stocks and Others Show Strong Tendencies on Mon- - trefoil Exchange. Special Correponienca to fta Canadian Section of Tun SDN. MoNTRSAt, Nov. J4. With ths cn of high money rates In Wall Street ths Canadian market had little chanco during the early part of last' week to do anything more than main- tain thetr creditable realitanoe to, de- pressing tendencies. I,Jut the. drop In the money rate In New Tork to 8 per cent, caused an Immediate- - resumption of bullish activity In Montreal and both Thursday and Friday saw extended up- ward movements In several classes of Industrial securities. The bite Item of Canadian news of the week was the announcement of an Issue of new stock of the Dominion Iron and Steel Company, one of tho sub- sidiaries of the Dominion Steel Corpora- tion; 60,000 shares of this new stock have been taken at $70 a share by British Interests closely associated with Canada teamshlp Lines, Limited, and the trans- action Is understood to have been brought about by Roy Wolvln, presldont of the Halifax Shipyard and Montreal Transportation companies and a direc- tor of the steel corporation. Tho Government etlll refrains from showing; Its hand on the subject of the terms to be accorded to Canadian shipbuilders, but it has been generally assumed that Its policy for the present would bo governed largely by tho degree of success of the 1919 Victory Loan. Now that the loan's heavy oversub- scription has been so promptly followed by the announcement of $3,500,000 of new, capital being put Into the steel business for shipbuilding purposes It Is naturally assumed that the Canada steamship Interests have received an assurance that tho shipbuilding Industry Is to receive sufficient Government sup- port to make it a business proposition. Will Help Not 8cottn. While the new deal holds out large possibilities for the future of the Nova Scotia steel Industry, there Is not much abcut It'to suggest any Immediate profits to shareholders, and 'In consequence the stock was a trifle weak at 71 and a fratclon at the week end. Steel of Canada, on the other hand, showed con siderable strength, reaching 70 on Fri- day, which Is the best figure attained this year In an ex -- dividend period. lncro is a strong Doner that this com piny will raise Its dividend from 6 per cent, to at least 7 per cent at the next declaration. But while tho big news of the week waa concerned with the steel Industry tho speculative excitement had to do with other classes of stocks entirely. The papers were again prominent, Price Bros, rising to the unprecedented figure of 257 W. Abltibl setting back to 110 and Laurentids and Riordon showing strong tendencies. There was also a lively demand for Atlantic Sugar, Hill crest Mining, Asbestos, Breweries, Maple Leaf Milling, Ames Holden, Dominion Textile and Canada Forcings. Alto- gether the latter half of the week showed a broad, strong market for Canadian Industrials. An exception' was Canadian General Electric, which had been selling at 112 and ran down to 108 V,. Transactions In this stock wero slight and were ap- parently due to the suit brought ajnlnst the company before the Board of Com- merce by a rival tungsten lamp concern demanding that the General Elcctrlo Company be ordered to furnish It with drawn tungsten wires and alleging mo- nopoly. The case is still awaiting de- cision and will afford an interesting test of the extent of the new board's power. Intereat In Indnatrlnle. An Increased Interest is being shown In the preferred stocks of aomo of the Industrials, which have notably Improved their position In recent months. Atten- tion has already been drawn In these columns to Abltibl preferred, which has only risen Vt point to 94 V, and ex hibits a much larger margin of safety than many Canadian preferred stocks selling at par. Another very attractive security is Spanish River preferred, selling at 117 V, with nearly 40 per cent of deferred dividends certain to be paid off early noxt year, thus making the real price 78 and giving a yield of about t per cent, with the additional attraction that this stock participates in any common dividend over 7 per oent Canadian Car and Foundry Is also steadily reducing Its Indebtedness on the preferred and has just declared a dividend of 1 per cent on arrears In addition to the current dividend. This stock has been selling at 99 with arrears of $24,50 per share. A seat on the Montreal Stock Ex- change was sold during the week for 130,000. The following table gives ths total sales, high, low and last prices and net changes of all stocks and bonds traded tn the Montreal Stock Exchange for tho week ended Nov. 22: Sales High. Low. 1TTZ AIDItlbl par Lt,liU ICS 173 Abltibl P ft P pt. 34 2723 A II MfC. Ltd 1211 4270 A II UcO pf 113 1060 Asb C Can Lt.... 13 M0 Asb C Can c pf. 33 73U Atlantlo 8 II Lt.. 73 225 Atlantic S It pf..l21 42 Dell Telephone. ...117 to 11 O Fish ft Peck. 3 1230 Brazilian T L ft P 81 3373I!rotnp F ft P Lt.. 71 ' 233 Can Cement 7IU 270Caa Cement pf.... SOW 1340 Can C ft Y Co 51 43S Can O ft F Co pf. MH 393 Can Converters... tl JSC.n Cottons Lt... 31U I Can Cottoba Lt pf 13 1327 Cm P ft r Lt....US 112 Csa (Ten dtctricioe 10Cn Locomotive... 11 1337 Can Steamship,... 71H 131 Caa Steamship pflSli 33 Carrlsre Fact Lt. 24 21M Con lfln A Smelt's ISO Crown Itte Mint.. 32 CiSDat Unttrd Tty....lOI 130 Dom Canners 13 270 Dom Bridie Co.. .107 10 Dom Coal pf II 173 Dom Olais Lt... Vi ICS Dom I ft S pf.... 14 IMOlDom Steel Corp... 711i su uom Textus us Law W 34 117H 113 \Vi MH m, 121 117 74H 11 lH m 70 81U 12 1W 10S14 71 II 24 23H 32 104 17 loiit 1 34H 34 3 Dom TexUle nf..10U 103 11 Goodwins Lt pf... 70 70 123 Illllcreet Collieries M C (OUIUcrest Coil's pf 11 13 ' 17 n Smith Paper...lll 143 3 111 Traction pf... 74 61 23 Lake of Woods..:! 323 I Lake of Woods pf.103 10s MTLanrentlde 234 227 30 Lsarenttde Fowl. 73 73 UOlLyall Const 147 12314 489 Macdonald 9314 111 Maple Leaf M111J03 303 65 Mont Cot Ltd.... 3114 MH 111 Mont LRftP Cons. ItK I Mont Telefraph...l23 111 3 Mont TramwsysMM 1 10M0 Mont Tram deb.. M l 1123 Nat ...173 174 12 Nat Brlrkt' 23 II 2069 No Am P ft Pt... 414 4H TBOrllvle Floor M.J9I 291 lOOttlTie F M pf..l07 107 ItlOnt Steel .Prod.. , W a 7SPenmsns Ltd ....103 103 ' lUPric Bro Ltd... .25714 239 2011 Oue Ity L II ft P S lSlttondon P A P...KI14 SI Rlondon P ft P pf II 50 8t Flour.. ..Ill lieintiawln W A P...1UK 10 Kherwin Tl Bf.lW ltWSpanls hRlrtr ..1. 7H IlsiseaaiaB tut maaisan m 32 CI 40 i II 11 22U 1H 37J4 111 117 10O Laat Cast, in 3 0414 111 -- 1 11114 3 87 4 31 1 72U- -1 122 117 Ji- ll -- 1' 77r H 71 MH - H tilt - ' tr .. IK 4 I lfWVi - 314 M .. atta 24 .. 21 33 100 67 107 S3 (3 It 73 122 10314 111 CO II 141 e 22S 10s 224 73 US J5r m 19 - M 3 1 2 122 .. 134 .. 173 1 ) tl 203 2 107 .. .S?4..H 7H 10H 201- 4- K H9H 114 n .. Ill is-.- .2 'MB SUN, TUESDAY, NOVEMBER 26, 1011). C7M Bleel Co 199BIM1 00 17 Toronto JJ03 Tramway u ) of Can 71 TtH IK et c pt. m m mS T Hy ....... 45 40 44 IM Pow...t Htt li ft 43 Tuckttts'Vob...... tt 5 wabateo Cot, Ltd.tOl KM Waysg P j P. Ltd It 1 Windsor Hotel (0 Woods Mfg, Ltd.110 BANKS. as Cotnmerca 101 M Merchants 110 tMolMOS m ttMontrttl Kg I Nova Scotia. m Minors. tutt at union $uso m SON Alb Cor Can te.'ti Dell TI U, 'IS.... (1 TOW Can Cement (a, '. M woo Can O ft P , 'M. ll , 10300 Oedar II M&PCe.'.l H 100 City Of Mi.Dre.U.100iJ 1000 City of Mos.llay 23.101 fJYt Oil a 4t IMm Oata r 4A \V bfStsT v MUSJiBCW! sssi.kva UWODotO Wt,5s.'J.. II' 41100 D Of CW LeVll. M' 71300 D of O W li I,'37, W 1I73S0 V Bdl lll7.UsZJ.i00 44SM V Bdl lH7.ltt.'-T.101- U 101 U9M V IMS 1117,0V., .7.104 104 .1CU0 V DdS 11X,.HI,'ZJ,100' 46(200 V lids Ult.0V.S.'33.103' uno uom u B sw o ev h 4000 Dom Cot ts '32.... V 1000 Don tr A 8t ts '29 H 1100 Nav Drlek Ca ... a IN Nov 8 B ft U t 13 39004 Ogll P M 8 DO U.100 MOO retrains Ltd as \3 W iW44 Price Bra Lt I ' 13 $32000 Q II L K ft P Bs ' 4Vs U00 Wa P ft P L is 'U 17 lOOO WlnnlDM El Ca 16 U it at a 103 103 lis 7 30 10 30 110 UO -- I in in U0 MO 130 110 Z0S 303 173 273 in in ts 314-t- V4 13 -- 1 71 73 .. II 11 m j- o- tt n ,. m 4vi- -m tooy, ioo .. 101 101 ti 101 101 I UOfi lOO- Vi- lOtli ,. . ra 104 H It IDOVk loo .. Z lOtVi 103U .. 04 St MVi WV4 iJ SS .. UK.. 13 S3 U 100 39 33 34 SS 37 17- -1 13 35 .. Fractions! lot. tTmllsted. (Cent per shart. The unit of trading In th Montreal Stock , ..,..am j . t Exchanro it: Stocks, a ahare: banks. 1 \o ii.i,v,v,.. shares; mlntnr. 100 ah arcs, and bonds, 0,000, ASBESTOS DEPOSIT TO BE DEVELOPED 2,000,000 Tons Said to Be in Sight Near Port Daniel, Quebec. ricorts tht ex- - pected development of an asbestos de- posit near Port Daniel, about sixty miles west of Qaspe, queoeo; ana, - .n.it. imnfflmtnti have been made, of a mill with a said that it would bs duty mum dally slxty-mre- e tons uevernmeni an example ocon contemplated. The representative of a Montreal com- pany financing the property states that though the deposit ts not n recent dis- covery, It has never been developed other than for fibre. He thettions. waa notation A.r.i, low of British loan at an extensive available suppiy lent milling stock, some 2,000,000 tons being In sight. The maximum quality of ho natwutna stated to No. crude. and tt Is the lower grades that hold the Inducements for development The deposit Is said to be outcropplngs on mountain side, which will facilitate commercial working, as the ore can be transported by gravity cable carrier short distance to tidewater, lt Is further claimed that within short .distance of tho deposit are available the necessary raw materials and water power for the manufacture of cement brick and other asbestos products. Encouraging reports to come in from the fluorlto fields of west Koot-ena- y. B. C. These tiropertles are on Kennedy .Creek, tributary of the north fork ot the Kettle River, near Grand Forks. Since the discovery of the mineral In 1918 over 700 tons have been shipped to Trail for the manufacture of hydrofluoric acid, which is used In the lead refinery at that point Installation of three additional furnaces and rotary at the ftuorite on Lynch Creek Is now under way. During- - the oaet experiments have been carried on with tho object of producing fluorspar In the quantities by the market Even the concentrating plant was built early this spring further experiments have been made, and not quite recently was is regarded as the final experiment carried out Signal success appears to have been achieved In the adoption of what ts termed the decrepitating furnace and rotary kiln. Crude oil Is used as fuel. Immense deposits of \attrlcanlt\ have recently been discovered tn Musklkl Lake, Saskatchewan, on the Prince Al- bert branch of the Grand Trunk Railway In the northern part of the province. The deposit Is natural dpuble salt, and Is composed' sodium and 'magnesium. To the thla commodity Is known as depots' of in also tons 714,700 acres ,.,,. .m wl\ mild were 4JB(tta aV,yV 431140 lkl vuiutuwiw of pigment has also been In the same vicinity which may be used for the manufacture of A has been organised, with North Battleford, for similar deposits In lake Oban, Saskatchewan, also on line of Trunk Pacific Railway. discovery large deposits of Epsom salts waa made few year ago In British but that they ara being marketed to any extent Canada. The. are lo- cated in of five near Basque, British Columbia. United States Flows Into A of great expansion In United States and ada, consequence of war is the of United States capital Into An estimate made year ago showed 388 branches of United In Some ot wore branches name, as well In others were newly some were companies whose stock was controlled by United About $350,000,000 Is tn this way. the movement of United States concerns Into the Canadian field really Just be Canada's great trade dur- ing the war has opened eyes ot the line to op- portunities here. With of United States' had as large ex Is but wen Per capita, this country Is better field than the United States. It to of branches of large States corporations, rubber tires, paper, gas motor parts and many other now made across the bor- der. Canadians ara doing their share In way of en- terprise, hut competition In their home field United States will the briskness of the'r By the end of this ivcar least $100,000,000 additional will have been put In by States and the next few this record Is .likely to SUCCESS OF LOAN CHEERS DOMINION Stock Reflects Now Feeling of by , Firmness All Sides. ' THRIFT TO BE Brighter Viow of Public Own- ership of Railroads Taken by Opponents. flpeoial Corretpomlcnce to Canadian flection or Tna bun. Tosorrro. Nov. II. Naturnlly th' whole financial structure of the Domi- nion was toned up by the unexpectedly great success of the Victory Voui cam- paign. It Is doubtful If one person tn 10,000 looked for subscriptions, amount' .1.1. . u.........r tlon of Canada's financial strength gives for the whatever it may bring. Even the to take confidence, and there was steadiness and on almost all sides. The most satisfactory of the Loan the Increased per' of home borrowing which It means. More than four-fift- of Can' ada'a national debt is now owed to our own wtfereaa before the war It was all owed to This achievement Is to swell the chest and waa doubtless part of the Inspiration for the utter- - anoes of Sir Drayton, Minister of Finance, at Toronto on the night or the Victory Loan announcements: \The are at .our doors. To day- - Is Canada's, and we .will mak to morrow Canada's too.'' Subsequently Sir gave utterance to thought which is In the minds of many people when no the installation mini- -, the of the of to set 01 concentrator omy and In the spending the new The the United States this was not aa as had expected, was sev eral above last years subscrtp- - Inch describes it apparent mat ino .. hinw n. srade one. with , the In New Tork 01 la be S greater a a a continue situated a kilns year re- quired since until what a of trade of at now of loan. from year been about the same time Interfered with the lending of money to Shows) Good Will. Utterances by leaders In toward the end of the week were also for satisfaction. & W. president of the Canadian who seldom In Ontario, came to with of praise and good wilt He has been well known as an opponent of owner- ship of railways, and while he ncw has not departed from that he was to say that now that the Grand Trunk was taken over by the Government he hoped would be suc- cess, as Its failure would be disastrous to the and there no enjoy- ment anyway In competing with finan- cially embarrassed rival. He even spoke well of the Byststn, which haa been particular object of criti- cism from of Montreal. On the Bame day D. B. presi- dent of the Canadian National Railways, addressing the Associated Boards of Trado of Ontario, said ths system he would and be profitable only the politicians would leave it alone. These two ring well, land It would appear as If the Govern ments .great is at last to the Imagination of the and probably lead to general effort to It success. The Associated Boards of Trade al convention called for royal to study the tariff. This was compromise representing the view of the demands for an all round reduction. A resolution for of Canadian ad- vertising In American periodicals before such periodicals should be admitted to was overwhelmingly defeated. Wheat to Go Up. Agricultural were stirred at the end of the week by the announce- ment the lifting of the wheat embargo -- v..! .ITT: . ,Ia,71 by the United States. This will prob . e tothV t\ef M0OCO ly send the price wheat up this country and tend to raise the price The crude material la at present being .bJJ \ VJSSn Thii It a good to Kitchener, Ontario, to be re- -, fined, but an evaporating Plant I. being J SSg constructed at Maskakee and ,. \7\'4,00 ?ffffT,'7i!5 tr..!n. on the s?nd Th.bvnroduc a an in Ontario. The lnPIu.d4 9!auri\itl. ' weathernnd woV which have Interfered IS?. Zm. ploughing, but at the end of the fift XSDtLi m5. week Chinook had brought ' ' rU. more Trported largely aerm iJ? Xni M h\ the shipment of wheat \S:.P.il5!lwWl. lire stock and coal, which were V tasu AJ coast found paints. company headauarters at the development a the the Grand The of a Columbia, It Is only In deposit a chain lakes Capital Dominion DISTINQUXSinNO feature the business the Can as a pros- perity, present Inflow business Canada. a States manufacturing concerns Canada. these in as fact, while formed Ca- nadian companies and Canadian States In- terests. Invested But is ginning. the business men across th the population, Canada one-sixt- h ports. Canada's growth started. a business ts Interesting note the comlnp United making gramaphones, clocks, en- gines, products the constructive by capital Increase methods. at Canada .United capital, In years Exchange Confidence on KEYNOTE i courage future, stock market seemed a firmness feature) victory Is centsge people, other nations. enough national Henry world's markets Henry a output thrift great response much though tt millions Canada. Besttty railway To- ronto matters Beatty, Pa- cific, speaks Toronto a message public theory generous enough lt a was a Ontario Hydro a flnanolal Interests Hanna, di- rected succeed If speeches new adventure tx appeal people a make a their a com- mission evidently a business Farmers' calling a proportion Canada Expect Imprests of extVn shipped n Springs a 717.000 Is u\i With a tZ A Mayt4 A deposit business country, thought more urgent were being moved. The week on the Toronto Stock Ex- change was dominated by a few heavy trading stocks, and apart from them business waa scattered. Two stocks which were much In demand and made substantial Increases accounted for al- most half of the trading In listed shares. These were Canada Bread common and Dominion Steel. Bread advanced more than six points, and there Is no explana- tion as yet for the accumulation, which toward ths end was attributed to Mon- treal Interests. The stock does not pay a dividend and Is not likely to do so for some time to come. The activity of Dominion Steel was no doubt connected with the deal by which British Interests secured 50,000 shares: but after the announcement. 'which had been expected by so many people to concern a merger, the stock eased off. Maple Leaf had an advance of 11 points, and It Is thought there wilt be an extra dividend before long. Tha same explanation probably accounted for the popularity of Steel of Canada, which was a heavy trader and advanced . 1 VI points. ! Mining shares were more In demand, the feature being Mclntyre, which had a 10 point advance to $3.10. The news from the mining camps Is favorable and the Incorporation here at the end of tho week of the Canadian-America- n Re- sources, Limited, with directors from both sides of the tine and an authorised capital ot $50,000,000 may have im- portant bearing on future operations. The president of the new company Is Alexander Alexander of New Tork. The following Is a summary ot the week's trading on the Toronto Stock : Btlee lAtl Bngtr pf... 173 Barcelona 371Briilllan 60U C Fishing 31 Burt T N 10 Burt. F N pf .... 372 Can Bread 7 Can Breid pt.... 144 Can Cement ICaa Cement pt... ucor Co MO O ft F Co Pf... 33 Can Ota Elec... SO Can Locomotive. 1 81 3914 3014 SO Can Locomotive of IS US Can S 8 Lines.... 72H 347 Can 8 8 Lines pt. ISH UJConmmrrs On... .157 23 Crow's Neit 39 to Dom In Canners pt. 22J5 Dom Steel Corp... 7114 4 uacxay ritt TTMaekay pf....i.... sell 313Msle Leaf.. 31 Maple Leaf pf.. 4 Monsrrh pf 3iN 8 Car 10N 8 Car pt MOtllvle SIPac Bart. II Pae Bart Pf. que P.. Rlffc. Low. tut Cbn. ,12114 12114 1111- 4- 14 .lew ,.10j II TW 49 II 39 14 64 21 L II ft 7 7U 30 3214 103 103 23 43 \la 1HU 191 1 n 71 1I9 19 II s IN m u 2Vs .. 106 - H 103 3IH 114 M -- 1 71 H14 H M 13 7214 1H 3514 V4 132 3 33 I 3 1 73H U4 SH4 li x 103K 101 102- H- U H U U J 4 414 4H 14 IS 21 24 .. 2MH SIS .. 20 111 34 14 H 35 10 nSamytf-lt- pf.... H 337 BMBlta Rlrsr 3714 14M Steel of Caa. tiii tt Steel of Can pf.,.10O 111 Toronto Railway.. 44 STacktttt It 33 Twin aty....,..i.4l 23 W Can ilwr ifls.lM 13 Cons Smelters CM Crown IUmit ISO Dome Mines... loo . 37 .14.60 VP 43 33 150 33 37 B0 13.75 14.(0 7.fIir.T.'v.r.::\'i5 n.ea aiuiiwui 4uiuvsmi'vv lOOTrethewey 34 BANKS. W Commerce lMVi 1WH 1(3 Dominion IBS 304 301 UHamlltoa 15 1344 \ 41 imperial H4 111 133 H 7Merchints ,131 UJ 7Moliona 13 111 193 MMMil .30314 27 20JU nr.i wu 213 211M T7 Btandard 210 210H 21014 03 Toronto IN Ulft 1W SlUnlo 140H leo Tiew TJitlSTa. Aa II Can. Permanent...ll0 141 170 31 Tor Oea Train. ..211 311 211 BOSSS. KXWCan Cement 3H4 33H 33030 Rio Janeiro 7114 7414 Yi upuos. 1U0 1951 1001a 10014 10014 ISMU1323 10OV4 WOtt 1H- - 114301927 IttS. IUV WW tUUO 1333 3141...... 10JH 103H 101 14930 1117 iH. unit jWAB LOAMS. 7103 103S I IRH 374 164309 WJ1 6S MU' 33J4 1T2M1M7 t 100 3Stf fJlTLlSTED. xlOBrompten 7774 74H UMacdonald 3114 14 im Bollinger 7.4S 7.24 .300 P.t Laks 1714 1714 14134 Mclntyre 3.17 2.01 300 North Am Pulp,.. 4U 4H S Black Lai .?. 17H 1TH 400 Lake Shore 1.33 ! 30 Don Olsss 3314 3314 11 T (1 - 43 5 254 a .. 27 Vt .. 42 U m iw h.w - . 14 31 4 1 .. l - .. . ..... 7 s - ' o 73VI 314 (14 TU- i- MH- -ltt 7.46 luo1 4- H- 17- H- jt 1.3J 33U-- 314 41 - U K .31 .10 M .03 1000 waver - v. Total sales: lilted shares, 14,34a; unlisted. 1MU; war bodo. n.s3i.u. BOND BROKERS SEE ii crony RENEWED ACTIVITY Canadian Fincmcea in Mott Favorable Condition. Ettcial Corrttponitruxi to tho Canadian Section of Tun Buk. Montrjui, Nov. SeV-- The remarkable suoccssof tho Victory Loan campaign, to gether with the strength of the securi- ties market eenrolly, leads bond brokers to expect a very lively activity In th corporation bond market Corporation Issues havs been scrupu lously withhold ever since uie uwom-me- nt loan was announced. They find a Bllghtly different market from that of tho Government and municipal issues, and this market la hungry for supplies at tho present time. The new issues win proo-abl- y be concerned largely with the casta Industries of the country, especially pulp, paper, lumber And food products. But there are Indications of an Inter esting new tendency, or rather a revival of an old tendenoy, to send out Canadian money for the development of promising territory elsawhero In this hemisphere. Canadian Interests in Cuba are already very large and will be Increased In the near future by extensive Investments In sugar plantations, and it seems likely that this is the beginning ot a move- ment to bring the whole process of sugar production, from the cane field to the re- fined product, under a unified Canadian control. Investigations are also going on with a view to securing Canadlancopital for the development ot British Guiana, which Is beginning to be recognised aa one of the most Important undeveloped tropical ter- ritories of the British empire. There Is a definite object In this policy of extending Canadian financial inter-ea- ts abroad, a policy which goes much beyond any consideration of mere earn ings ; for the chief object will be to secure Canadian control of sources of raw ma- terial which are required tn Canadian Industries but which cannot be procured tn this country. The rubber Industry and the sugar Industry ore, examples of enterprises which are becoming too great to remain dependent upon foreign sources for their supplies ot raw SHIFTING OF BLAME IN GRAIN MUDDLE Railway Mm Re$ent Commis- sion' Charges. Special Correspondence fo tho Canadian Beoikm of Tk Serf. MorrrssAL, Nov. 34 Considerable in- dignation la expressed by Canadian rail- way men over the attempt of the Grain Commission to \pass the buck\ to the railways in connection with the attacks that have been mad upon the Grain Commission for Its alleged failure to se- cure the highest possible price for Ca- nadian wheat The chairman of the Commission Issued last week a state- ment accusing the railways of causing a loss of many million dollars to Canadian agriculture by their Inability to ship ths wheat to the seaboard at a reasonable pace. The railways claim that tho dlffl-cul- ty of handling the what crop, which they admit to be serious, is due entirely to circumstances over which they have no control, and that much of It could hava been avoided If the warnings Issued by the Railway War Board early in the autumn had been acted upon. There Is a serious shortage of cars In Canada, due to the excessive number of Canadian cars which are being re- tained on American roads. Th ,.. .vmw entered the a stock for American railways, the Canadian ra.. I. . Ma b4rtt,nii.Vli:v pre8ent much th.i rZr, :'\::? \ Proportion to many Canadian oars for their own usage. This situation, bad enough In Itself, has been greatly complicated by the ad- vent of an early and excessive winter tn Wettarn Canada. This has caused a tremendous demand for coal shipments tn the prairie provinces, and as this ter- ritory Is supplied from British Columbia and Western Alberta the movement of cars is In the same direction as that of the wheat traffic, namely from weat to east The winter has also caused an unusual activity In the movement of cattle to market and In the transporta- tion ot feed for those cattle which are not destined for Immediate marketing, but which can no longer be pastured on the' open prairie. The situation can only be relieved by the recovery of Canadian freight cars from the United States, which will be a alow process. PRESS ASSOCIATION TO MEET. Newspaper Proprietor oA Gather tn Toronto. On Thursday and Friday of this week there will be held tn Toronto the sixty-fir- st annual meeting of the Canadian Press Association, made up of proprie- tors and managers ot newspapers from all parts of the Dominion. The day sessions will be taken up with the hearing of oommlttee reports and with action \on matters effecting labor, advertising, &c There will also be an election ot officers. Th,e exercises of \editorial night\ will take place In the King Edward Hotel on Thursday evening, at which the pro- gramme will be aa follows : Address, J, fV. Defoe, \Manitoba Press.\ Winnipeg. Prisentatlon of Illnmtnated Freo AdAre.... In jonn r. acivar ana w. a. Hmaiin.ld. Address, \Canada and United States From , the Standpoint of a New Tork Neva-- paper Man.\ Arthur Elliot Sprout, . eei'or Canadian Section' of THE SUN. Aaareat, -- wnera ursaa ana nurai atirge,\ Canada and The Victory Loan The remarkable tuccen of Canada's Victory Loan 1919 wherein 68o,oob,oooweia3ubicribed .almost entirely by Inveitori within her borders Is proof of CanadaVexccllent fintncral position. We Invite eoneipoodence from institution! and individuals interested In Canadian Inveitment Securitiei. Piincipa.1 and inteieit payable in United Statei Gold Coin, A. E. AMES & CO. Montreal 74 Broadway, New York Head onice, Toronto Chicago WE OWN AND OFFER $2,000,000 1 4 U GOLD BONDS OF THE PROVINCE OF ONTARIO AT 00 NfcW TOBK FUNDS TIELDINQ fl.00 PRINCIPAL AND IN TQ!E ST P ARABLE ffjy0r:W TOIIK. TORONTO AND 4 1KB OTIIICK ATTUAOTIVI! OFTETIINOS. TOBatlsarONlltNCE INVITED. WIRES AT OTJK EXPENSE. MILIUS JAKVIS 1 & CO. lUOTOTMintfT ll AN 11 Ell 9. 1 jiMta mrmefi NATIONAL FLAVOR IN CANADIAN ART Exhibition in Toronto Shows Great Growth. Special Corrotpondtnee to the Canadian flection 0 Ths Sun. Toronto, Nov. 24. Art In Canada has made slow but certain progress. In- terest caa (tan much more Intense In the practical things ot life and the pio- neering element Is yet so large that the connoisseur la a somewhat rare bird. The opening ot the Royal Canadian Academy of Arts Exhibition in Toronto on Friday calla attention to the growth of srsthetlo enjoyment This is a re- markably varied and Interesting Show, and were it to be compared with pic- tures eTalnted, say, five years ago, the advance seen would be most pronounced. Hitherto. Canadian artists havo do- - voted most attention to landscape, there- by reflecting national pride In tho coun- try's spacious areas and at the same time Illustrating a limitation placed upon art here. This limitation Is tho high cost ot painting figure pictures through lack of number and variety ot models, and the restricted market which has nol put a sufficient premium on fig- ure work. There was always, also, the competition from other art producing centres, notably Europe, reaching at one time to a positive boom in thla country through the energy of dealers tor Dutch art This yoar'av exhibition, which Is repre sentative more than ever of all Canada, Illustrates a developing virility In art which Is comforting. Landscapes do not dominate as before, and there Is more ot a national flavor. Not many years ago all ths exhibitions contained rows of pictures painted by Canadian artlstswho were studying in Europe. Tho war put an end to these pilgrimages tor the time, and it Is doubtful If they will ever be resumed to the same extent Hence, we havo now pictures which really por- tray Canadian life. This 1b not to say that the artists are becoming; provincial, for they are ob- serving 'the world movements, but mak- ing up thetr own mind on the matter. This exhibition illustrates Canadian art's successful resistance of extremes. There are no geometrical propositions for the pusiled visitor to unravel. There Is a fresh and rugged modern' note in many pictures, some ot which are doubt- less beyond the appreciation of tho ma jority of visitors, but lt could lhardly be said of one of them that it does not convey some sort of a message. This might be especially written of one of the' outstanding- - pictures, F. H. Varlers \Prisoners.\ This .artist went abroad for the Canadian War Memorials Commission, and his work has attracted notice on both sides of the Atlantic. In this picture. In great broad lines, ho tells the story of a sodden battleground with a column of straggling Bodies wending their disconsolate way from their own line to what will be at least safety. An American artist of distinction, Harry Van Der Weyden, Is represented 'by Invitation with a fine picture of a French Ashing village at dusk. An English artist H. Harris Brown, has some fresh examples ot portraiture which are attracting much notico. Otherwise, the exhibition Is pretty well confined to Canadians, and with a host of new names there Is every reason to feel that vigor and confidence are possessing the Canadian art world. FARMER CAMPAIGN SPREADS. New National Puller Announced tn Saskatchewan. Special Correspondence to tha Canadian Section of Tmi 8uk. Toronto, Nov. 24. It Is apparent that the Farmers are about to capitalise their success In Ontario by spreading their campaign In other parts of the Domin- ion. T. A. Crerar, Minister of Agri- culture in the Union Government until laat summer, and now generally re- garded as the national leader ot the Farmers' movement has been making speeches In Saskatchewan, In support of what he calls a new national policy. Consistent with previous declarations, he has said: \The policy of protection Is the greatest curse and drawback tn could have in Canada. The protected Industries In Canada have been one of the greatest sources for the corruption of Governments this country has had, because It pnld them to have protection, and they paid the price.\ At the samo time Mr. Crerar at another meeting said the platform of tho Canadian Council of Agriculture was ono which could be indorsed by all classes. There Is no wild ruah as yet to de- nounce protection In the cities, but the urban populations are rather sitting back awaiting the achievements of the Farmer rulers. Premier Drury and his Ministers In Ontario havo been ex- tremely busy on the platform, respond- ing to Invitations and getting acquainted with more and more people They re- iterate their Government Is for all the people and not for any class. STOCKS 'i Vancouver, B. C. 1 \4 XX i Dominion of Canada War Loans Bonds Corporation and Industrial Bonds Listed and Unlisted Canadian Securities We intite your inquiry. What Others Say About CLIFTON PjORCUPINE \The Property His The Of A Mine In The Mik. in,- \- Extract I rom Northern Miner (Cobalt), Oct. 4th. 1010. \Clifton Porcupine Seemi T B A Business Effort To Product A Mine.- \- Extract .rom Toronto Sstur. dar Night, Aug. 30th, 1010. \The Interests Behind The En- terprise Have Shown Genuine Ability And Integrity In Tht Psst.- \- Extract, from Canadian Min- ing Journal (Canada's leading mining magaxlne),Sept.l0th.l!fl9 It will pay you to get the fetu about our present ottering; ot slum In this Company at 30c. Ttie; will be mailed promptly uses request. Homer L. Gibson & Co. Dank of Hamilton Bnlldlng TORONTO. CANADA. ROBERT CAMELS W.O.II.MWW.N'S A. It BROWN Cassels, Browne & Co. Afsmters Toronto 5txt ErttoV 318 Dominion Bank Buildmf, Toronto. DIRECT PRIVATE WIRES TO Now York, Chicago and Washington CORRESPONDENTS OF A. A. Housman & Co. 3 WE RECOMMENi) CANADA STEAMSHIP LINES LTD. 5's-19- 43 At Market Te Yield About \ Full Particulars On Appllcatlo\ Herdman & Company;' Members Montreal Stock Eichsnl ) Bankers & Brokers Montreal H. M. Connolly & Co. Members Montreal Stock Exchange. 105-10- 6 TRANSPORTATION BUILDING MONTREAL CANADA BONDS 71 Rogers .. at. uaapraan, fmmot I
