Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 13, 1914, Winnipeg, Manitoba 12 Manitoba free press ab1gust 13. The Bank of established 1374. Capital authorized too capita paid up rest and undivided profits 4952759 Sterling Exchange bought and sold Best current rates for documentary Bills foreign cheques commercial paper Etc. Money transmitted abroad Bank draft or Cable Transfer. Winnipeg Branch --------.--------_.---------._____j. B. Monk. Manager 8t. Jame3 Branch a. G. Dunnet manager. Cor. Parkview and Portage ave. Financial Large sums due in London can now be paid the minister of finance in Ottawa avoiding heavy Exchange charges Cash business is being done in stocks to balance accounts. F and governments to to their utmost to artisans at Wori on Public Undler talk Inge. It urges As an argument during1 the coming win Ter the Igov Menf will possibly be to Jain talk ascertain number of people1 Walt May be in danger of actual starvation it is better it says that the should employ some of the s men useful work paying them rather than that they maintain them in idleness. There is age measure of truth in made by the financia.1 the stat Menli times f future Prosperity s savings k. Build for the future f ids every i c allowed of debentures Ivi Ake it earn 4% inter est payable your m head office Winnipeg the Canadian Bank of Cor Merce capital sir Edmund Walker c.v.o., l.l.d., d.c.l., president. Alexander Laird John Aird general manager. Assistant general manager. V. C. Brown superintendent of Central Western branches. Savings Bank accounts interest at the current rate is allowed on All deposits of and upwards. Careful attention is Given to every account. Small accounts Are welcomed. Accounts May be opened and operated by mail in Case of the removal of a depositor to another District the manager will be glad to advise regarding the Transfer of the account accounts May be. Opened in the names of two or. More persons withdrawals to be made by one of them or by the survivor. Offices 3.91 main Street c. W. Manager. C. Gordon assistant manager. Million import loss conference to discuss change in Revenue tax and in creased Beer tax suggested. Washingon. Aug. To raise something like to offset the loss to the United states in import duties expected to result from the War in Ropo win by the subject of a con Terence tomorrow Between Secretary Mcadoo and representative tinder Wood chairman of the House ways and Means committee the. Normal Revenue. Treasury exports tonight completed a statement showing imports from the War zone they did not Hazard an i estimate of probable loss in revenues though informally it was admitted that the total might be in the neigh boyhood of for the year. B Guies also Havi been prepared to demonstrate what might be raised by increased taxes 011 liquors and tobacco and by adding to the income tax. The Normal Revenue on importations from the countries now. Great Britain Austria Hungary France and notes a j ear. Germany exports Many things that the customs experts say May be provided by Brig and and other countries. Japan might Ake advantage of the Opportunity to no. Cai a its exportation of articles normally supplied by Germany. The Hiel loss will be in pottery. Laces and embroideries toys dyes among the schemes being informally consider eds one to change the in Ernal Revenue tax on cigars and to Trade and the War. The difficulty consists in. The fact that if the governments did All in condition would be but Little the great mass of artisans Alee employed Iby corporations and apr site individuals. The employment i by the government after All drily it drop in the bucket. Arrangements the under Gold May be def yelled with the minister of finance at Ottawa to the credit of the Bank of England said a Bank official to the free i Jess. Yesterday is intended wholly foil Large operations. When this Gold is deposited at Ottawa the Bank of England in London will be advised Ana i nil pay out the Gold there. Eventually to ii actual specie might a transferred to London by warship if necessary i i the present arrangement would not the main who wished to Send a sum to London. If however ithe matters can be which we were dealing. J time. Itjima Sank of England is began their conversations Bankers pc by junk. And All these Aracco Makin instead of a it an. And Valorme at tax on amounts. Tax Iii his Way. It is estimated 00 could be raised. From an increase d Beer tax it is estimated could be brought in. Isio change in the income tax could after july. 1 next. Be effective until will receive Gold for Bank of England minister of. Finance in Ottawa Wilt hold specie in Trust a arrange ments facilitate Exchange. Western Antoci Atco press Ottawa aug. Connection with the statement that arrangements have been made to facilitate the shipments of Canadian produce and other w t. White minister of finance. At Orie o clock to Day made the following for Mal statement the minister of finance has been authorized to receive and hold Gold at Ottawa in Trust for the Bank of depositors Minisi j in connection with j name of person to whom proceeds Are i to be paid in London. The securities of the District underwritten in London by re to Tanfil extent of 000 000 of this amount credit for 5500 000 Ihas been Given in the balance in supposed to be paid during the next three or four months through the Bank of Montreal no exact in formation is available from source regarding the Money that is still to come. The underwriters concerned in the Mattei Are among the Best known financial men in great Britain and it is possible that their will be no difficulty unexpected eventualities Imay occur however As a result of the War and their Mav be temporary difficulty in securing funds the City of Winnipeg happily situated its Bonds for Weie sold in february in London and All of this1 Money recame available. This will be sufficient to can v the City until the next Issue is i made in february of 1915 of the Lon Don Market is disturbed at that time it will of course it Eikeie with Allar Lange ments for work in this City on capital account during 1915 Gettins Wient for Witrod of the Bankers was in Here said a Large Grain exporter to the 1 Roe press yesterday in the course of an Fate View the local financial situation and was seeking to Ascer Tain about How much Grain there would be Foi Export. He was considering the various problems in connection with the business this year and was speak Range ments Are for Large operations. Taking War risk. Hits private contractors without political Issue it a be stated As a pure financial hem that certain local contractors and builders feel very bitter about the Clos ing Down of work by the provincial said one of these build ers to thu free press last night on the Verj. Morning on which the announcement was published that the provincial government would at once Stop expenditures on capital account our company was notified that no More Money would be spent by Large private j arranged within very these arms which were carried on Over the Tele phone by referring to the action of the provincial government. They had Evi Dently argued that the government had toe Tel facilities for knowing the condition of the Money Market than the Nad if the government was going to quit it appeared to them that Thev ought to do the inquiry at the labor Temple yester Day elicited the statement from officials of various labor unions that about 20 per cent of the Union men in the an. Idle it was also stated that conditions had Moi Clr worse . I a of hostilities in Europe. Local contractors and build ers claim Chat the estimate which is made of. The officials of the labor unions ire too Low and that More than 20 per cent of the Union men of the City Are unemployed. It. Is stated that the proportion of non Union men who Are not employed is quite As Large. Water District the greater Winnipeg District May nil itself in difficulties for Money during the current a Eai. The Chance is a Small one. Out it exists nevertheless Weie Pacific ills at i62 brokers circular ize clients Mak ing offers and some business is Are Well maintained. New Mcdo Jugal Cowans. Ork aug. It Washe Arne d to Day that Jbf relaxed their Stolt Exchange committee to limited Cash dealings. Brokers have been circulating clients Gaia mists of securities for which buyers and Sellers Are Avail ame and has been a Good response. C. Has sold i privately at 162 and a 70, at -55 Are recorded. In steel read Bers of the Exchange securities in the necessities of them adv customers May Send a the committee of the p r Ess comment. Mcdougal Cowanis new York s newspapers Are withhold a quotations at the request t and brokers for the Public not because they axe not t and cannot be obtained american there Are for consolidated Gas by Are looking for stocks by wart journal Commerce been no development Wesit give the Exchange. Wall Street . U to Kun Cess fully Arra promptly the Small , Union Pacific and or n the nature of Otner issues at close tithe Funai quota persists that the Exchange sume business in a few quotations of july p. All transactions Are Thrall. New York Aig. 12 York Bank ers Cogoni Starit step taken by eng and to facilitate trans Atlantic com Pierce by establishment of arrange ments could be Deposit with the treat Der of the Dominion o Canada to i edit of the Bank of eng land created n popular misunderstand ing that the Batik of England proposed to establish a Branch at Ottawa Al that has been is the establish ment of a port of receipt of Gold Tak ing away War on Gold being ship Ped. Copper Metal Market. Osier Hai Jimond Nanton York copp.-. Metal Market i s practically it a stand still big Sel ers report no buying1 worthy of Rne lion but have changed hands at 12 5-8 to 12 3-4c Pound european demand is dead for he time being tout Copper people look for Large volume of Europe s exp Cir Trade to to this country with consequent or pase in american consumptive Jones co sugar company dividend. Osier. Hairmon Nanton new York sugar refining declared regular quarterly dividends of 1% on common and referred Short v Ere made in Londono Day at 4i cent. Cigar St Cires. Dividend oct Douthill Cowans new York aug. Cigar stores declared the regular quarterly dividend preferred payable sept. 16 aug. 31. To shareholders on Revoid ing of the proposed arrangements of posited e with the minister of finance at Ottawa and credited to the Bank of England amount of Grain for Export m of Canada foreign Exchange by far the most satisfy .3 n w , a Britain and foreign countries is by Bank drafts in the currency Payee s country. We sell these at lowest current rate of Exchange payable at Par in of the t two Central of times main by refit Avenue n m Reeve j Avenue Street adjoining Post f. 3. Other branches in Wink Keg. Portage Avenue. 8" Western associated Ottawa. Aug. Arrangement has been reached witly the Canadian j minister of finance with the Bank of England by which the present critical i International Exchange situation be tween America and great is i to be relieved at once and american j and Canadian exports be allowed to go e Europe. Ister of finance by this arrangement will act As trustee to hold Gold for the Bank of port m opinion will be from oof to 80 our too bushels the was risk on this Gram is assumed by the British gov Ern ment. And the same government also guarantees payment. M presume that the. Plan is that if the private buyer does not take the cargo the govern ment one of he unsolved questions in. This connection. Is How the exporter in this country is of be Pam Northern directors sird. Gam Bdl w. J sir d. C. H. T. Champion Sohrt m general manager Robert Cameron Bartlett manager Winnipeg Branch american or Canadian Bankers Desir ing to pay Gold in Londo will Forward to the minister of finance Here for account of England. Thus it will necessary to ship Gold across the Atlantic to make payments in London and to inthe arrangement Exchange rates Rush Ould an off. The speedy shipment of Canadian exports should speedily re store the financial balance and possibly bring it about that Exchange will be in favor of America. There seems Little a put that the arrangement will at once lift the financial embargo upon Canadian food products awaiting shipment at Canadian ports. Under the arrangements the Banks Here will be Able to pay interest or provincial government municipal anal corporation securities maturing due in London by deposition of Gold with the minister and the necessary arrangements in banking interests bought heavily one British government has arranged that sold May .1 be deposited with is minister of finance for the Bank of England. But no arrangement Toas been announcer for the. Paying out of Nionia in. Ottawa _ help from government the financial times in its current Rren Issue. Issues an Appeal to the Federal Imperial Bank of Canada capital Antho Ritzert Sion Norn capital subscribed____7lz------ 70cgooo capital paid up. _ _ to. Reserve fund. _. Agents in Gieralt Britain and u. S. Bank limited National Bank St. First Bank. Attain principal Points in lot torn. Or cred i issued. Joseg Branch g. Leslie manager Cash basis and it Isi Hought that considerable activity May develop in the Market a Ortua Exchange remains closed until sep tember which is vaguely mentioned for a resumption of business Osier Hammond Nanton new York aug. The special committee of five of the York Exchange ruled that members or the Board d siring to buy securities Lor Cash May so and a list of the to the committee few the Clearm House at 6d a veer Street giving the amount of securities wanted Ana the prices they Are willing to pay. No offers to tray at less than the closing prices of thurs Day july 30, will be considered. Mem were nothing More than local ties to be considered. _ Sun latitude is allowed Sto Elk Exchange in private to new York ases new Tork aug. To be settled out of court. at ment thursday to discuss Means of meeting deficiency through decreased custom Harab org a me can Olfin that their boats Are not wry sold no matter How War lasts. Ship registry Bill in amendment passes in Senate. Federal troops preparing Mexico City after world s Commerce for 1513 a. Proximately the Dominion Bank 3. D m c. A. Bogert. General manager. Banking business la foreign lands Branch end b3rajjch notre ilme , avenge redi Rood and Street Branch _ f. 1l. Fatty tanager w. S. A rung manager. A. M. Hamilton a Lanaco v. R. F. Sutton a Lancer. E. J. Townsend. Mgr. _. M. F. Jem3iott, Griffith Dusti Linton a., sets i0. C head office and nine branches in Toronto branches and connections throughout Canada. A sayings aft omit with the the account May be added to further Large or Small amounts and full he paid at highest Bank rate Mcdougall Cowa Snew aug. Inter ests Are reported to have bought heavily during the weakness of the Market july 29 and 30 and up Many tested issues secured at bargain prices. They will not. Come upon the a Long time. I state imports will decline exports will Advance to the old High level and we shall save of tourist interests and. Dividends during the nest twelve months according to estimates. Made m some banking directions in an analysis of the War prospects. Odd lot accounts Are being reduced now at a much faster rate than heretofore. Transfers have been effected by the extent of More than so per cent of purchases. Canadian Pacific Stock increase 426 main Street w a Machaffie manager. Osler Hammond Nanton Stock brokers and financial agents private wire connect on with new York and Toronto Unity or postponing Payne with in tenets at 2 per cent the Canada s Premier railway will bring its Issue up to the amount for which it has the Sanction of the government. Montreal aug. A special meet ing of stockholders of the Canadian Pacific railway company will tie held on october 7, the Date of the annual meeting to authorize Aii increase in or capital Stock from Ono to . It does not new Issue of. Stock in Tihe immedi ate future but the company desires to the authorized Issue it to amount for Thich it has the Sanction of the. Jones co. To end deadlock my ppe me to it say of men since they be found out that Prince Albert tobacco can t bite the Tongue and can t parch the Throat. I i Lead me to it you la say just As Quick As you invest in a tidy red tin and ibid on first hand just Why p. A. Has become f he largest Selling pipe and cigarette tobacco in the United states. Normal courses the to Weir of the owners Bead the Pees press foe news. Of and acceptances of such foremen or colonial firms or Bank age Clef Are established in Goat Britain the inter National Joy smoke and thousands Dif old Jimmy free men smoke a oboe and you know today s the Day i Prince Albert x the Lariat Euey a the vote a by r t1, Beine Canada by wholesale dealers and in of by off retail r. J. Reynoldj5 tobacco co., Winsta Salem , ;