Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 30, 1914, Winnipeg, Manitoba Manitoba free press Winnipeg thursday july financial York alone of the great Stock exchanges of the world did business yesterday. Opening was lower than tuesday s close but conditions improved steadily during the Day. The largest financial interests of the United states Are said to have come to the support of the Market in order to prevent the occurrence5 of a panic which might have had most res alts. These big interests which bought heavily in the Early part of the Day sold in the afternoon when the condition became stronger. No chances however were taken to inter Fere the improving sentiment. The exchanges in Montreal and Toronto trill probably remain closed until tuesday morning. Maraday is civic Holiday in Toronto and saturday and monday axe Bank holidays . Total sales in new York yesterday reached shares discretionary Powers to committees with Power to pro Long suspension. Montreal july and Toronto Stock markets remained closed a Ain today on account of the by condition in which the markets of world were plunged yesterday a declaration of War Between Austria and Servia. Tha committee of the local Exchange was Clother with discretionary Power to prolong suspension As As con cations appeared to warrant such action and there was a feeling in the Street today that it might tie a couple of Days before Exchange is reopened. Toronto is working along similar lines. There have been a few complaints made about the ome people would like to Busar. Gain prices and Are ready with hard Cash for such times and Opportunity out preponderance of feeling is that it is better to remain closed. What is one Man s Opportunity is usually another s loss. London demoralized brokers declined to make quotations so wide were fluctuations before close. Western associated press special Cable London july Stock Market today this Market was checked. The failure of seven firms was announced today making m All to suspend during tvs account four of those firms hammered new York occupies practically Only change of importance open chases by investors feature. Many provincial exchanges were Berthau the general panic7ln the Liverpool Exchange. Two Wert Annop iced in Glasgow p he Exchange at a France Ihas been suspended and at St. Petersburg and Amsterdam closed Down. Consols closed Joffis i1 Money and the settlement below yesterday s prices the american Market suffered the same degree of Chibis As Home and Continental securities. Losses ranged from .1 Point upwards. Canadian Pacific was a Leader in the decline with Baltimore Ohio the cop stocks and other Standard shares unusual losses. Canadian Pacific nominally was priced at 163, after having been to 162. At the figure the Stock was about 10 Points Down from yesterday s close to much. However took place be fore the sensational break in the Stock occurred in Wall Street. Home rails Are Flat and foreigners and mines slum Pes. No reliable Price could be secured if or Rio Tintos. All Continental favourites were depressed. And quotations in Russia Servian and austrian Bonds showed heavy declines. Rothschild s statement that the out look is brighter had some effect to wards the close. The foreign Exchange Market was disorganized. A Large amount of Gold was taken from the Bank of England for Export to France and Egypt. The total of the shipments was a 5 cent Bank rate or an Advance of 2. Per cant in the present rate is expected to be made by the directors of the Bank of England tomorrow. New York july local Stock Exchange was almost the Only Market of importance at Home or abroad to preserve its stability today though at times especially in the initial Trad ing storm signals were in evidence As a result of the Semi paralysis manifested by London and Berlin latest developments in the Servian situation caused the British and French markets to practically withdraw from All Active operation while other european exchanges including to Frankfort and Hamburg deemed it expedient to Fol Low the course of Vienna a andanc1 Montreal which suspended business altogether. An unusual feature of the London Market was the merely nominal quotations posted for Many american issues while those in which trans actions actually were made declined 2 to o Points. Opening prices Here were inclined to Tollow London s Load out a sudden reversal followed an Active buying movement of Canadian i Pacific for Berlin that Centre buoyed by favourable advices from Russia was a consistent purchaser Herf Only of Canadian but of other inter nationals As Well. An important Factor m the Advance Here was the extensive purchases credited to investors. An element which has Long been lacking in the financial District to the buying of this character might be added the substantial support accorded by Lead info banking interests. Prices inclined to Shade fractionally caring the a session on the resumption of sole in moderate volume Follower by a 5 cent. For Call Money and some Harden if for Long maturities. Best prices were established ii the final hour when foreign advices Wei e increasingly encouraging. For eign Exchange was again settled tout the refusal of Manv Brok ers to quote rates served to restore a semblance of order. Business was shares under yesterday. Bonds fluctuated widely showing less recuperative ability than stocks total sales value to. S. Coupon 4 s gained vex cent on Call. The Bank of established 1874. Head office Ottawa Canada. Travellers and commercial letters of credit negotiable throw Griott tie world Furni Sli a most Safe and convenient method of obtaining funds when travelling Winnipeg b. Monk manager St. Jamas Branch a. G. Dunnet manager. Cor. Parkview and Portage ave. Of Canada open a housekeeping account and pay your Bills by Cheque there is a decided advantage in depositing your housekeeping Money in the Union Bank of Canada and issuing cheques for your expenditures. You avoid the risk of keeping a considerable sum in your Home or carrying it when shopping and each Cheque when cashed becomes a receipt two Central offices main Street and William Avenue d. M. Neeve manager Portage a Nus Corner Garry Street adjoining Post f. J. Boulton other branches Adf . Corydon Avenue Iron an Avenue North and Portage Venus and Arlen stoic Street and Sargent Avenue and Arlington Street 490 Avenue. Toronto dealers Banks traders say that financial institutions should have shown More consideration Security was Good. The Canadian Bank of Commeree capital rest. Cut Edmund Walker , . . Presi Dmit Alexander Laird. John Aird. General manager. Assistant general manager. V. C. Brown of Central Western branches collection business. Branches in All the Imp Ruml towns and cities in Teun London new York san Francisco Ore and St. Johns Newfoundland and agents or in every country in the world. It is Tylius enabled to a v a Iowa unsurpassed facilities Lor the encasement or collection of cheques drafts or other Bills of Exchange Tjay Able abroad. Efficient at reasonable rat eat Khlob till be quoted on application. Offices 391 main Street v i c. W. Rowley. Manager. C. Gordon assistant manager. Toronto ont. July Toronto is Leflay amazed Over the spectacular declines that have occurred since saturday in several of the Lead ing Canadian securities. The Grain Section of the Toronto Board of Trade in the rendezvous of merchants manufacturers ind Finan Cial men who Are to be found there Only at an annual meeting. Business in Grain futures has developed to a volume unexpectedly even the most sanguine Many Toronto investors hav no turned their attention to wheat n an Effort to recoup their on the Stock Exchange. Financial men state the panic of 1907 had no More severe an effect upon Canadian securities than the present War scare. Yet All Are agreed that the intrinsic Merit of the enter Prises affected by the Price decline has not been impaired. The question of whether or not the Banks protected their clients interests against the Avalanche of sales has been raised. It is All very Well to close out a Man because he a no exclaimed one Toronto trader but the Hanks should us some discretion. They loaned Money on these securities in the first place and they knew feat the Security had not been touched they realized that the decline came from outside causes but they appeared to lose no time in closing out a to hold them for a while would have saved Many a greatest Fortune in probate registry final valuation of the Fortune of sir Julius Werner will show a Valu f action of London july statement was current recently that the final valuation of the estate of the late sir Julius to exceed eleven and a half millions of pounds. It this should prove to Bei Correo this will be the greatest Fortune recorded m the probate registry. At present the record is held by the estate of the late Charles Morrison whose estates appears at what is Resur Nablo the final figure of the estate of sir Julius Wernher. As re sworn some Back runs this Verv close at a figure of the next largest Fortune is that of sir Julius Wernher s partner. Alfred beit whose estate originally sworn at millions provisionally was re sworn eventually at so that the two partners Between them left according to present figures. Other millionaire South african nates were Henry Isaac Barnato whose estate was sworn at the round figure of Barnett Isaacs Barnato and or. Woolf Joel of. Barnato Brothers. Must withstand terrific assault Northern Crown Bank i head office Winnipeg of Spital authorized capital paid up _ directors resident of sir d. H. Mcmillan g. Capt. We. Robinson Ashdown a. Mctavish Campbell w. J. Christie p Douglas Cameron . H. T. Champion John stove j a general manager Robt. Campbell 3 supt. Of branches l. M. Mccarthy a savings special care Given to savings accounts. 4 which May be opened by depositing and upwards at any Branch. I Owins to our numerous throughout we Are Able make collections at a min Murn Cost Stock quotations Winnipeg Winnipeg. July bid. 29 listed stocks can fire los. Iso commercial loan Trust 95 Empire loan _. 113 great West life Ivi pm. 250 great West Perm. _ _ 125% Home investment 135 136 Northern Croin Bank _ so sort Lien i mortgage _ 102 104 Northern Trust 130 Standard trusts _ 135 Kales listed stocks 25 Northern Trust _ 132 10 great West Perm 124 10 Home investment. 136 new York reported by . Hammond Ariton new. York july 29. Open. High Low. Close 56 59m, 55% 20 amal Copper Amer. Beet sugar. Amer. Car fury. Amer. Cotton Oil Amer. Loco. Amer. Supra Amer t Tamer. Woolen Anaconda a Tchison atch. Pad _ 1 Atlantic coast line bait Ohio _ 35% 25 57 102 it 117 91 .47 a 44 73 2914 42 general leather Ches. Ohio _ Chic Alton _ Chic m pfc St. P. Colo Southern Chicano n w. _. 130 Colo. F i. 22 cons. Gas. 3 22 -58 a 60% 57 60 a 101 104 118 a 116 y. 117 i i3 27 97 .115 72 a .75% 84 85% 160 15414 42 27% 94-14 25 13 America s vast suppl shipments of Bullion to Europe cause no uneasiness in new possibility of exhaustion n. 75% 87% 166 a 44% 42 43% 8 88v. 92% 20 130 a 126 129 22% 2314 22 90 Del Hudson Denver h. G Denver pad Duluth. A s. Duluth pad Erie 1st pad Erie 2nd Ltd Gen. Electric 23 i 124 120 23 124v1 145% 145 a .14414 10 21" 142 it nor. Ore 25 great Western 11 Illinois Central inter Boro. Kansas City Lehl sri Valley _ .130 Louis. Nash. 23% 21 141 113 26% 24% 11 Osier Hammond. Joanton Tork july fact that jobbers according to advices refused to quote prices in London Speaks for itself As to the critical state of affairs on the other Side. The Market is being restricted in. London. New Tork is left As practically the Only principal financial Mart open to the world for realizing and consequently will perhaps have to with stand a terrific volume of liquidation from All directions which in its intensity is Likely Mio produce a most unsatisfactory state. Of " consequently we adhere to. Advice which recently we have repeated so often to., the Effe it a Nio St Judic ious Couise is advisable and that ample Protection should be provided on both sides of account in View of the Sharp fluctuations to occur. Bryan. Winnipeg Stock Exchange. A Astlett manager Winnipeg Branch Winnipeg july was bid for Standard trusts Stock today. The Stock was held for a Long period about 170. To sales have recently been made below 160, the Issue being firmly held. Northern Crown Bank Stock was also weaker Sellers 88, buy ers so. Stock of several other Standard securities was sold the prices in each Case being fairly close to Normal. Northern Trust brought 132 _ great West permanent 124, and Home in vestment 136. At the close Northern Trust was bid 130, and Vest Rnecht at 136. Five . London july at have be run again five failures Are reported none of which Are very important. Ber Lin is feeling better. 8 so 2a, 142 26 1014 11 a 109% 12% 11% 23% 23% 131 129 13014 130 111 113 to. Pacific g 9 a National Lead 41 43y. 40 11u Ivic 80% Norfolk Western 101% 102 101 a Northern 100% 103% 10? Pennsylvania 107 108% 108 4 11s us 116 117 by. Steel Springs. -22 23 Reading. 152% rep. To. A. 19% 20 a rep. Pad Rock Island. R. I. Padi % Southern Pacific 91 85 i 90% Southern by. 17% 19 17 is s. By. Pad 72 71 72 Tew Low record for both groups on this movement. Steel Mcdougall new Tork tuly Toth Quarter earnings against March 31st Quarter and june 1913. Refuse to Trade. New Tork. July London quotations this morning Deal ers absolutely refuse to Trade they Are a actin or the result of to Day s set Jones. Washing to on july one lion three Hundred Millton dollars in Gold Coin and Bullion stored in the Treasury vaults and about More of Coin in circulation Treasury of five the United 6tates has no cause for alarm Over the tremendous shipments of Gold from new Tork to Weir clouded Europe i Secretary of the Treasury Madoc exp lame a that the country never was in a better position to Send some of its millions abroad declared there Ivas nothing to fear from the Drain to meet european demands it was pointed out also that while Europe just now was drawing upon la Mecca s Gold Supply it would Only he a Short time before the Money would be coming Back to pay for the vast quantities of food and supplies this country would be called upon to ship across the water. Banks help in Montreal july Exchange remained closed to Day and it is not that it will stay so for several Udas to come. There As a general Reeung of Relief both among brokers and traders at tha action of the Board in ordering the Exchange closed it is believed that the worst is Over unless Russia intervenes in the Austro Servian conflict the open Ingol the local Exchange will depend entirely on the action of the european Powers and the developments on the Jondon Market it is pointed out Here in connection with the sensational drop in c . The earnings for the year were is equivalent to 16 3 cent on the capital of the local Hanks were consulted he fore the Exchange was closed yester Day and. It was largely upon their and me that step was taken no complaints have been made so far. The Banks have intimated their readiness to give All the affix. Necessary to tide the Market Over the crisis. Bargain Hunters look for Likely purchases Mcdougall jew Tork july outside buying orders Are received from bar Gam Hunters and outsiders on the theol that a Sharp rebound is Likely to place As soon As the fright Over the War situation has passed away. Foreign Selling in the industrials is largely concentrated in steel and cop . Continued Gold exports Are responsible for the unsettle rent of sentiment in some quarters. Commission House Are very cautious. They have been disregarded to a consider Able extent by traders. Good Granger stocks Are being recommended As b Edmund president. W. . Vice preside my c. A. Bogert general manager. Banking business in foreign lands with a Branch in London England and in All parts of world transaction Jaro , on Roost favor Ablo terms. Sorolta Exchange bought and. Sold. And lotto a of credit issued. Advance Nado on shipment a. Both Export and import. Promptly f. L. Patton manager. W. S. Darling c. M. Denison v . Townshend. M. F. Jemmott manager. Winnipeg Branch North end. Notre Dame s a Portage ave St. John Redwood and main Arlington Street Branch. The head offices and nine branches in Toronto James Mason general branches and connections throughout Canada general banking business transacted. Sales notes discounted and collected. Bank sales notes. Given on 426 main a. Machaffie pager Winnipeg chases on set backs. St. Paul Hatchl son and great Northern Are looked upon As bargains. Assisting brokers. Toronto july on of the Canadian chartered Banks continued on Page fourteen the Canada permanent Itasta company acts As executor trustee administrator liquidator financial agent guardian curator or committee of Lunatic Etc., Etc. . Harris manager Canada permanent building Garry St., Winnipeg. Imperial Bank of Canada cult no Antulio razed cup ital subscribed capital paid up unit curve fund agents in great Britain and a Ifka. F Aew Tfaye Manhattan com bulb of America National City National a Drolc Cora Bange National Obank. National Banu. Bar National Bank. Branches or agencies at. All principal Points in Manitoba Saskatchewan Bri Iiah Columbia. Ontario and Quebec. Interest allowed at current a less Bank department. Ers of credit Winnipeg Branch x. O. . Hammond Nanton Stock brokers and financial agents stocks bought a nil sold on on Winnipeg. Toronto. Montreal new Tork London England Cobalt and Porcupine stocks. Liong it and sold on commission for Cash. Private wire y Corner main Street and Portage Avenue. Telephone main 8400. Money to loan on Winnipeg residential property and improved farm lands at Low est current rates. Huron 5 Erie loan 6 savings company the Canada Trust co. 302-303-304 Lindsay building. A. Whyte manager. It j. Reynolds tobacco co win ton Salem n. A u. S. A play p. A. Right across the boards you Lay an Odds on bet that Prince Albert is the Best pipe and cigarette smoke any Man Ever put a match to. You la Cash in before you clean out your first tidy red tin. Here s tobacco that s got real red blooded Man punch but it can t bite your Tongue and it can t parch your Throat. That s thro via into the Dis card by a patented process owned exclusively by the manufacturers. You stick a pin. Other to Bacco can be like Prince Albert nor has p. Near relatives the thought just put it right up to yourself fora test out. Try a tin of Prince Albert and get tipped off from the Home plate As to How close to Case cards this talk is. You get Wise to that p. A. And fragrance. Because it s just one of those Little things that smooth put ruffles and Wrin Kles in the Day s work and Send you along right cheerful like. Prince Albert u largest seller in the United states. It a Beinor imported into Canada by wholesale and u old by All of the. Leading retail dealers. In i both Pound tidy red Tiai the inter National Joy smoke ;