Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 29, 1914, Winnipeg, Manitoba Manitoba free press Winit Peg wednesday july ii Griffin Brand yellow Label Bass and i guinness 1 bottled in England v. By p. Griffin so. Green co limited hinged Gover Nickelet Box shake a Little on the moist Brush and apply the Brush the face. The lather is instantaneous. The same emollient creamy and satisfying lather that has made Williams shaving soap famous. It is still the same soap though in powdered form. Three other forms of the same Good Quality Williams Holder top shaving stick Williams shaving stick Williams shaving Cream in tubes Send 4 cents in Stamps for a miniature trial package of either Williams shaving stick Power or Cream or 10 cents for assortment no. 1, containing All three Arcules. Address dept. A the j. B. Williams co. Glastonbury conn., u. S. A. 1 i i i 1 1 i i i i i 1836 the Bank of 1914 Ica markets of world demoralized s expectation of War Between Austria Hungary and. Servia. Anti its subsequent declaration today demoralized the markets of the world. War was no declared until after the courses had closed but in and Berlin Lamecky conditions and severe declines in securities anticipated the announce ment. Bonds of the governments of Europe which have been steadily drop eng registered further ids ses. In Vienna the bourse has been closed since saturday but there was a heavy in on the austrian savings Bank the important in the dual monarchy. In pans the commercial Exchange suspended All dealings in grains sugar and other commodities on private discount rates for he first time in years were not quoted. In Berlin runs on savings Banks begun yesterday grew heavier. In London after the close of the Stock Market stocks tumbled on Thi curb. Heavy slumps in York. _ news of the declaration Reache d this country while markets were in ses Sion. With it Tiame an Avalanche of foreign Selling on the new York Stock Exchange. Leading securities slumped from five Twenty Points and conditions paralleled in their intensity the Domestic panic of 1907. The Stock exchanges of Montreal and Toronto suspended their sessions. On the Chicago Board of Trade there was a tremendous Rise in wheat and he wildest trading in Many years. This was predicated on the expectation that War in Europe would create a demand for american Grain. Other food stuffs also advanced. X these conditions were reflected in All the produce markets of the country. On the other hand smart declines were recorded in Cotton futures at new York and new Orleans. Coffee also slumped due it was reported fears hat the contemplated financing in Europe of the brazilian crop would fail j foreign Exchange Wass demoralized and millions in Gold were engaged at jew York for shipment London and Paris. Montreal shows monday s declines faded by lowering be closed this morning. Financial months ended june 30, 1914, Are As follows Gross earnings working expenses net profits in june 1913, net pro hts were 755, and for the twelve months ended june 30, net profits were. 874. The loss in net profits is there fore for june for the twelve a months ended june 30. 946. 78 years in business. Capita and surplus if your children ing not Only How spend1 Money wisely but How by self denial save something for the future you will Jaye started them on. The Road financial Success. Open a savings account for each in the Bank of British. North America and encourage them add it regularly. J Ivl Ceachern superintendent of Centra Canada branches. Winnipeg Branch 6. A. C. Weir manager. Mcgregor and Selkirk ave. Branch d. A Allan. Manager. Town of Selkirk Branch a. E. Burnham manager. Free press Montreal july Early tone of the Market was decidedly weak and feverish this morning the first half hour of trading held put some Hopes that the worst of liquidation was Over but after the second hour broke out than Ever and declines were nothing com pared with the Way some prices faded away. For instance. Power faded away 11 Points and Shawinigan 14. 1-4 from yesterday s closing prices. C. P. K. Went Over five Points below yester Day s final figures other declines expended from a so five Points and. The Market beyond ques Tion was badly demoralized. Early prices for c. P. R. And Bra Zilian indicated clearly the feeling in the London Market both showing several Points Down a the time the local opened c. P. R. Had rallied somewhat from the Low in. London and Wall Street Hel Ped the tone so that the trading opened a fraction above 175 an do at one time touched 176 in new York. The Price held fairly steady for a time. But in the second hour when news that War Between Austria and Servia seemed a certainty Tihe Narket commenced break again and from then until the noon closing there was a demoralized state of affairs which was in full swing when the Market took recess. While c. P. R. Was bad abroad brazilian was worse and fell at the open ing from 63 60, but later eased 59 1-2. Until late in the session it was the Active Issue but later some of the others caught up with it. n the when pressure on Power began assert itself the opening be fairly firm around 220, Only a fraction under. Yesterday s Low. A punks noon hour the Price faded quickest going 211, a loss of 9 Points for the session. The loss. In Shawinigan was even More marked extending 14 1-2 from yesterday s being 111, after closing at 125 1-2 yesterday. Another Stock come under pressure was Scotia but the lowest touched was 45 3-s after opening at 47 3-4. It later rallied some. Steamship pre Ferrell touched a new Low level at 59 1-2. Textile went As Low As 64, equal yesterday s Bottom. Tor onto rails touched a fresh Low level at 111 Lauren tide was quiet but was offered Down 163 from 168 1-2 at the close yesterday. Ottawa Power faded from 129 125. Cement was 2s 1-8, canners 30 1-2. Detroit .63 Iron touched 19 .7-8 after opening at 21 3-4 and Bell was-14cl after the decision was reached Doss the Stock Exchange this after noon on account of panic conditions it was further decided not remain closed indefinitely. This action was generally approved by people who Fead heard and discussed the situation conditions in country do not warrant panic and it was deemed advisable take any Steps that would prevent demoralization and heavy losses. This is the first time in the history of the Montreal Exchange that the Market has been closed or account of War conditions. A c fel1 i of As 157 in new tons this afternoon and rallied 163 it was explained later that the Market will remain closed tomorrow morn ing but May open in the afternoon but much will depend on action of the London Market. It was also stated that the. Reason of closing Here was Noti so much on account of local weak Ness but the fact that the foreign Mai sets now closed were using this and other markets unload Trier shares. In Canadian Pacific v steady unremitting Selling Fol lows on declaration of War beaching panic Point. Stock quotations Winnipeg listed stocks. Can. Fire ins. Com loan Trust Empire loan great West life. 7 great West Perm. Home investment Crown Northern Mort Winnipeg july 28. Bid. Asked. Iso _ 95 113 6 . 250 125 138 so 104 136 102 135 Northern Trust 130 Standard trusts 135 50 Northern Mort. 40 102 10 Union Bank 139% Union Fenk _140 Montreal reported by Cowans Montreal july 28. V 3id. Asked. A Holden Bell Brazil. Canada Cement Cement did Canadian Pacific a. Irown Detroit United Dominion Cahners Dominion Iron steel Lauren tide. Montreal Nova Scotia steel Ogilvie flour com Ottawa Quebec . R. O. Shawinigan Sherwin Williams com Sherwin Williams pad Spanish River Toronto by. Twin. City. National leak 4234 n. R. Central., 84 a t., o. Norf. Western _ nor. Pacific 105 a r Gas 11914 by. Steel Springs 25 readlhr_____xd-3 1597. Rep. I. A 20% rep. Ltd 81 Rock Island h. I. 92 a Southern by. 18% so. By. Ltd 73% Tenn. Twin. City 99% Union u. S. Steel7 58v, u. . 109% Utah Copper. 54 Wabash wabash.pfd.-. Western Union 57v4 vesti Niehouse Eleo 76 Wise. Central 36 Money z a total sales 140 59 a 28 a 90 i 171v, 110 63 32 2014 16614 211 45 106 123 10 73 111 56 93 9 63% ill a 100 10 14014 59% 171% 32v, 21 166 212 46% 124 64 Montreal sales. Morning. Reported by had outfall cow aha Montreal july 23. Cement Cement 91 r-15, 91. C. P. 30, 125, 17514 50, 17514 100 33, 75. 70. 17514 25, 100, 60. 175 55. 50, 174% 25. 174, 50. 175 50. 173 50, 172 25, 300, 100. 172, 100, Detroit 64 25, 63 25, 63. Dominion 3 22 21 a 50, 21v4 50, 2114 10. 21, 50. 21, .25. 100, 25, 21 15, 20 a. Montreal 75, 25, 220? 10, 220 25. 220 25, 25. 100, 100 21914 165, 219, 100, 213, 5, 50, 50. 218 25 217 25, 216 50, 75, 214. 5, 213 a 5. 10, 213 25, 212 50, 211. To 139, 2 m.s., 202. 120, 25, 119, 25, 118. 25, 116, 25. 114 25, 25, 113 25 112, 25, so 11214, 75, 111, 63, 25, 25, 65, 37, 60, 50, 6014 20. 60 i 50. 120. 60 75, 10, 60 50, 59 5. 60 57, 50, 100, 60 25, 5, 5914 20, 55, 59 a 25, 5914 50, 591-2 50, 59z 60, 50, 60, 65, 60 75, 35, 42% 41 84 80% 103 1oo 101 10714 10814 25 159% 154 207. 19ft 19% 81 80 80 17 17% 72 72% 31% 99% 99 124 a 11814 119 58% 55% 55% 109% 54 52 52 57% 76% 75 36 35 34 3sv Toronto. Toronto ont. July Are today s Stock sales at 16 at 114 110. 62. Steel at 21. At 45. A hairy at 101 a 92. Burt at 89. At 75% 7oi steel of at 11. At 55. 25 Ait 47. At 200. At 210. Co. At 7 8. Can. At-176% at 2s. At 33. Can. 1ss. At 28. Gen. At 92 at 550 555 la at 83 81. At h London i London july 28, 2 . Amalgamated Copper 62 4 Anaconda.-------. 27% 94 a Ches. Ohio 43% c m. St. Paul Reading 159% Southern Pacific. 91 Southern railway ._c._. Southern pad. 73% Union Pacific 121% United 57% u. S. Steel pad 110k, Banks reported by Osier Hammond Nanton Montreal july 28 Sellers. Buyers. Commerce 205 is said. 4n gossip tie Large. The same source refers a. Morp., Book Island and Ana England and Porcupine Tocica bought and sold on commission for Cash. Private wire connections with new York and Toronto Corner main Portage Avenue. Winnipeg. Telephone main 8400. Poor reception foe . Debentures offering was attractive but War was in the air. Montreal july London wires the list of the Canadian Northern by. Loaa closed this morning and letters of allotment were posted. It As under stood that the underwriters of the four per cent guaranteed debenture Stock issues were left Witto 79 per cent of the Loam. The Stock was quoted at about 1 per cent Dis count. Commenting on the7 poor reception of ithe Canadian. Northern loan the daily news says Suph an unsatisfactory result is not be wondered at it is quite True that the debentures possess Many attractions their cur Rency being for Twenty years the rate of interest. 4 per cent the Price of the Issue 94, and they carry Tihe in Coila Tio Nail guarantee of me Canadian gov Ern men these would be great attractions in Normal times but the ,time3 Are not Normal War is in the air and that explains Why the reception1 was not trouble 1 i Kiel Kiel Germany july 28. There is n. Financial panic Here and in other Novros in this District. Rues started. On savings Banks _ new Haven receipts. Mcdougall Cowans x new York july new Haven week ending july 26, decrease from january 1, decrease new Tork july find a. Parallel for the Panicky condition which swept Over today s Stock Nkru Ket. It is necessary . To the. Autumn of 1907, alien securities values Crum bled away because disastrous Dom Estic conditions. The impelling Factor today was the crisis in Europe which reached its Climax in Austria s declaration of War against Servia. The Day opened with another Low Range of prices for american stocks in the London Market. Initial prices Here were in no instance As Low As those recorded abroad although de Clines of 2 3 Points were general. It was not. Kritil mid Day when Austria s attitude became that the Market Here was seriously affected. The extreme decline began with Canadian Pacific which had been offered in round amounts Dur no first two hours. Although All foreign markets were closed outpouring of stocks for London. Paris and Berlin became More urgent until they reached the maximum proportion of shares in the final hour and Over million for the Day. The shrinkage of values was materially assisted by Short Selling and. Pm i paired margins. continued fall until it yielded a total of 19.3i Points with.4 in All parts of. The International list. Apprehension was increased by further heavy Gold exports. To Paris and which had their inception in the alarming news from for eign Exchange rates were utterly demoralized. Many brokers declined make quotations at All. The Selling gathered greater impetus in the final being coincident with rumours that Russia had agreed support Servia. At the s same time word came from Montreal and Toronto of the premature closing of the exchanges in those cities. There were fitful rallies of a Point or two from the Low but these were offset by continued offerings with an exceedingly weak close. U. A. Steel s quarterly. Statement was not issued until after the session Here had terminated. It showed a deficit of after payment of the dividends against a deficit of .111 the previous Quarter earnings were about Bette than in the first Quarter with a mod Erate increase in net income. The Bond Market the course of stocks with some Sharp sal6s . Government Coupon 4 s declined 1% per cent Call. Confusion unprecedented Selling forced Mary closing of Toronto Market. Toronto july 2s. Nearly every broker had Selling orders in stocks today and the Market became so icky that the committee had close the Exchange at . The same action was taken by Montreal. Great the was never before was there such excitement on the Toronto Stock Exchange. Stocks were literally poured out regardless of value. The total the Day was not so very but prices so rapidly that brokers became very anxious about margins. This finally led the closing of the Exchange 45-min utes earlier than the usual time. Many of the were forced suspend so great was the alarm Over the War news. The total dealings Here shares up the time of closing and the usual Call was omitted at the close so far were Foyers and Sellers. There was an Active Trade in brazilian and on dealings in. Shares the Stock declined As against yesterday s close. The net decline for the Day is 11% Points. London was a Large seller. Barce Lona went the Only sales Here in . R. Were at 176% 10, 100. 5914 35 Jiuu 5991 so 75, 59vi 25. 25, Union. Toronto 116r 60, 114, 26, 113 a 10, 25, ill a Soi 111 65, 25, ill a 60. 112 25, 25, 100, 112. 10, 30, 112 a 112 5, 85. Dominion 6514 25, s5, 65 60, 75, 100, -100, 64. 10 50. 180 234 262 Montreal july 28. . Earnings Are Given As follows june 1914 Gross earnings 421 wording expenses. Net profits the twelve common sold off two and general electric declined 2 Jav few shares of Duluth Superior sold at o5, or seven Points lower than the last Sale a few Days Asp. Toronto railway was one of the Active one declined 110, closing at 111. Or a net drop of 4 Points for the Day. Twin City held fairly Well around Par. Bank issues Dull. The operators on margin had a bad time of it and this May Lead some trouble. A great Deal of the Stock sold Vesterdal was held on margin. Fortunately the amount so held has been come Aratine by Light for some time Oast the losses in consequence will not be general. Nearly everything dealt in was much below intrinsic value. But in such times investors Are Loath buy. Sentenced foe m Over Issue of Stock Brussels july Wilmart belgian Man news paper proprietor was sentenced Day ten years imprisonment and fined shoo on. A Charse of swindling the Public out of by Over issuing shares in the Ghent Tern sen railway in. 1912. Winnipeg Exchange Winnipeg july Bank Stock was sold at 139 3-4 Day on a Board lot. A later Dale of 25 shares. Went through at 140. No quotation on the Issue made at the dose. Northern Crown sold yesterday at 88% and was offered Day cat 88. Commercial loan an d Trust is offered at 95, and great West permanent at 125 1-4. Northern mortgage is quoted Sellers 104, Ini yers 102. Northern Trust Sellers buyers 130, _ 167 100, 166 75, 155 a 50. 166 25. 25, 10, 16616. Do Ninion 32. Bell 25, 25, 140 a 40, 140. Can. Steam slips 100, 60, Iso 100 co 67. 20 59. Tram 43 50, 50, 45, 43 25. 42v, 25, 25? 42vf, 125, 25. 42 50. 41 25, 41. Paint 98. 1790, 100, 17.95 100, 1790 twin 100. Crown 150, 300, 110. N. S. 5, 47 25. 4614 30, 46vj. 75. 46 50, 47 25, 46. Ottawa. 129 61, 128 126 25, 100, 125 .25, 60. 124 5. 123. .111. 10, 91 Quebec 50. 35, 50, 10tt. Clears 25, 62. New York reported by Osier Hammonds new York july 28. Open. High. Lou. Close. Amal. Copper 64 59% Amer. Car dry. 47% 48 46% 4-7% Amer. Cotton Oil 37 a 36 a 36 Amer. . 27 27% 25 a 26 Amer. Smelting 62% 63 58% 59 Amer. Sugar 10314 Amer. T. To 118% 118 118% Amer. Woolen 13 Anaconda. 29 29 27 _ 95 92 Atchison 98 Atlantic coast line 117 117 bait Ohio 76% 77 7214 73 ;