Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 20, 1925, Winnipeg, Manitoba 12 Manitoba free press Winnipeg monday. April 20, 1925 Ames Homen Mccready Situa Tion discussed by chairman who says report company will discontinue operations is premature. Business Trade and Commerce mines and the Money markets new International paper Mill at three papers will be largest in world when completed Fork begun. The traders viewpoint Clark Martin co., 232 Portage Price changes fractional Market is quiet with Money available five per cent. Basis in the last review it pointed out i Bluit in Vinor the duct that the in j dust rims had declined Rusti Focally out Havins their Raity it j the ii Loyl til thu air action Tunit Tho next move should be towards higher , that now come to t rom Iho Low work begun the movement Sterling Exchange kiss. From Iho Low april a Tho a 7 in lit i i Tiff 11 cruses to stocks has now advanced International paper All the conc Mill in Lardner. Cli Irke to Toronto a Ril is. The total amount Bonds during the past Wook was a in excess any week for sumo . The largest it Alberta 5 per ism is. Maturing in 25 to try payable in vow York As Well As can u la. Four Moum submitted tenders Ami tie Price accepted s9.1g in vow York funds that the province is borrowing approximately a per cent Lia Sia. The spread in Price the highest and lowest Lender wus per cent. The Montreal Catholic school com Inis Sirini sold per cent. 20 year Bonds at a Price , a Cost about 5.05 pin cent. It is in Forest inst to note that both these Tho Cost basis was approximately the same. Other than these i to sales there Werc no issues Dis posed during Tho week with the exception a Small lot town it Thorold 5 i. In cent ten instalment Bonds for which the municipality re coined a per rent . No definite trend the Market in general has not taken any definite trend during the past week and Price changes wore Only fractional. There still appears to be plenty funds available for investment but investors in general in dividends and men f u my u i --1 Points Makins Tho Normal rally from Tho Low Point March exactly to cent Tho and severe Derline. The fact to b noted however is the time it Lias taken to be complis the Antly. For Tho do she decline ten Points the -10 stocks it took just Days Large volume. For the rally to recover five Points it has taken 14 Days and the volume has been Only two thirds what was put the Market during Tho decline. The action tie Market clearly indicates that the present rally a ill have to absorb a tre Menciuk amount pressure before it can convince the bearish element thai it intends to move further up. The Market although will no doubt five ground to a certain extent and further fluctuations it round the k-v1 april f Viil Liao to take place Bofro it ran stabilize use if and form a Structure for a Advance. Railroad stocks. Railroad stocks gave a better account themselves Asl group than j lie industrials. The "0 averages advanced sharply from lie Low april u to april 1c heavy volume. The inter during 4hose four Days equalled at three Rivers to produce 700 tons daily he Clire volume the previous ten Rinyu. They also a distance four Points malting entire rally practice Illy two Lii he decline tires Points und them their Pri More strength Sec Nis to to indicated in Bluit Stock flan any Hilior. Tho present rally has been helped that has a inure Short in Ilieen trying to cover lust few Days but appears to Terest for h have difficulties account the Scarcity tins floating Supply. Fur ther rumours important developments arc very is Quetant to Purchase securities that will yield them less than 5 per cent. Some the report a slightly Strong demand for t ors to follow should the hearings now before the inner Stafe Commerce commission prove favourable Are stimuli unit Public mortgage Money which is course natural at this time the year. There is some talk that the Banks who have been buyers government and municipal Bonds Duricr the past two years Are inclined to liquidate some their holdings in order to provide capita for com Mercial and Industrial purposes. This however has not become very notice Able and unless conditions improve considerably Over the pres ent is not Likely to be a serious fac Tor in the Bond Market. The new York Market during t he week appears have become More stabilized and there is i fairly heavy investment demand in evidence. Much refunding expected there is some talk the province Ontario doing some financing in the immediate future but so far nothing definite has been heard. Al together during the next two months there is Likely to be a fairly substantial amount major financing the part Tho provinces who have Bonda maturing in those months. The majority Large to Nancis at the interest and is Unchu Rakliff Hoidorf those securities to maintain their Long position especially those recently a Millred. That Section the list no fair to become very Active Dur ing the next few weeks. Motor stocks. Tim motor stocks continue to lie the Active the entire Industrial Section. Remarkable activities took place in sonic its issues. The most Active were probably the Maxwell is sues especially the "13" Stock which advanced 20 Points in three Days tremendous volume. In. Fact one third i Tho volume 01" the entire group is furnished from and there i seems to to no Sal tin i Ion Point in up Elul . Patch to twin press Montreal april 10. The International paper company announces that its subsidiary in Canada the Cana Dian International paper company has let contracts for the completion its Mill at three elvers to the ultimate design eight machines and a capacity 700 tons news print paper a Day thus making it the largest paper Mill in the world. Tho Mill which construction was started shortly after the War was originally built As a four machine Mill. On december 1 last work was started Tho installation two additional machines a design calling for an ultimate installation eight machines. Tho present announce ment Means that the company has decided to proceed immediately with the completion the Mill. The three Rivers Mill the com Pany now has four newsprint machines in operation a capacity 330 tons. On december the company began to Clarg the Lii for two additional newsprint machines do Rona work the. Latest addition win be started immediately and will be. Pushed to comple Tion As quickly As possible. 80 Miles from Montreal the Throe Rivers Mill the inter National paper company stands at the Confluence the St. Lawrence and St. Maurice Rivers so Miles be Low Montreal. J the contract easier credit gives buoyancy since reaching ils High Point Stefo 3-115 in january the value in Canadian Money the Pound Sterling has remained fairly steady though at a slightly lower level. After a. Slight fall in a Druary it recovered in. March and had an average value in the month 13-16. The lowest value in March was at the beginning and the highest in the Middle month. Money pours into new York Burin past week giving new vitality to stocks new York stocks closing bids , Martin co. Tork april 18, 1825. Cios open High i Low wild sep civil United news be sink a f i Russ by free press i Riente wire by Todd w. Wright new York april Money in abundance to be loaned at the prevailing rates it is not necks Sara to go into detail to search Busl and Trade conditions for the he More cheerful tone in for the electrical equipment the Mill was the largest j contract its kind up to that time Ever awarded in Canada. In this connection is is interesting to note that one the outstanding features the three Rivers Mill the com Pany is that every application Power electric and that it is one the few 100 per cent electric paper Mills in the world. Fox farming proved suitable for West d. Lome Mcgibbon chairman Ames Holden Mccready states report company will discontinue its is being canvassed. Will lose. Nothing and Bond holders situation Mot Des is quiet with smelters slightly bet ter. Pc club Joe Spetch tie free. 1 . Montreal april was quite an Active scale during sat company has decided to discontinue unauthorized and to say the least premature. At the same time he admitted that the question Dis continuing is also under advisement. He added that the problem is being present time is mostly Tor refunding purposes and does not represent any substantial amount capital expenditure. British Coal output is smaller in 1924 the total output Coal in British mines in the year 04. According Advance figures just received by tile hankers Trust company York through its British information service was tons compared with tons in the previous year and with 000 tons in 1913. Of the total output 1s24, l 5.3 per cent. Was exported 6.7 was shipped for use steamers engaged in the foreign Trade and per cent was consumed at Home in i hitting Coal shipped for tin use vessels in Gajic a in the Coastwise Trade. The corresponding percen tages for 1s23 were 32. L0.0, and 61.3. Ontario steel Strong Montreal Exchange Canadian despatch Montreal april. 15. Consolidated smelters the most prominent in Rev Al Terai motors has been very act urday s Briet session the local Stock Market and prices which has been rasing for several Days gave a studied from All angles and that if slightly firmer demonstration. The the interests in control could be Rea Nia Jonly Price changes however Aon ably sure that the company could now be carried without further loss until some very Neces sary fundamental changes Are in evidence in Canada further funds be available for investment if necessary to protect the present holdings and Endeavor to save this important Industry to Canada. has carried a Ini up volume recovered most its decline and is at the present within four Points its old his i. S a Decalier has fluctuated within a two Point Ranse for the past live Days. The astonishing feature is that it seems unable to Cross the 4u level. It has approached that Point five Dlf Ferent Days without to overcome the pressure put against it. Oil stocks. The Oil group a Atrain a disappoint ing feature contrary to George d. Macvicar Secretary treasurer. This company the. Pioneer its kind in Western Canada has demonstrated that tin climate is particularly Flat i for the raising the Silver Black Fox and thai the Fox n siness has great possibilities for n the Industrial Section. I and Western Canada the the rest the Market department agriculture the they railed to bold their rally and most them slumped Back to their recent lows. News the Oil Industry is a somewhat bearish character and the Bear element was not slow in taking Vantage during thursday and Fri Day s session to drive that class stocks. A fair amount volume dislodged driving some issues to Lov. Ground. Pan american a has Given a weak appearance during and sold As Low As 72 1-1. The volume the decline in that Stock is very Small compared with its past activities. Marland Oil met with heavy pres i. Ii lilt Federal Rovern mint has recognized the Industry and Hafi provided an Nual inspection and registration animals in the same manner As in the Case other pure bred Stock the Manitoba a department api culture under the Deputy minister j. Pc. Trans has taken a keen Tito Esi ind is Given tension ant the Industry at enc drag Emend. Was unable scattered sure around 3t level and to stand it. The Stock Selling declined again to within two Points its recent Low. Cosden is one the members the Sard to activity in saturday s Stock i group that failed to have its Normal Market closing fractionally higher at j rally after Ita previous Sharp decline 69-i for a net gain h. Second in act 1ild during the drive Unity came National breweries. This a new Low. The Stock Ssue registered an Advance i i i ,0 St a Ock Points at 4ii. Atlantic sugar was up Pacific Oil Din ins the past year the. Company the entire week Paul a substantial dividend to to shareholders and has built and paid for an addition to its ranch at by. Andrews Manitoba. Approximately one Hundred pelts were sen to the Condon England fur Markel which suffered Tho greatest closed at 28, off two Points. Decline. Utility securities Tram. 1st to yield about. 5.26% Tram. Mage. 5 a 1955 at 92, to yield about6.55% Canadian Pacific notes 1944 at to yield about5.05% Jamaica pub. Service 1st Mage. Sims 1943 at to yield about.6.25% United securities 6% pad. At 103, to yield about.5.82% paso electric 7% pad. At 103. To yield about.650% u. S. Funda Telephone write dept. H. For particulars. Greens melds 17 St. John St Montreal mount Bosoi hotel scudding Toronto 14 King Saroct e. Ottawa 46 Elgin Street steel stocks. The Stool group in spite Clis coursing from several Quarter the Industry notably the Low ton Nase the . Steel corporation i map remarkable Effort to recover part the decline which so far they i Haw failed to do. I Tho entire group was much act Vav during the last three sessions than they have been for ten clays. . Steel after fluctuating Between i Ami 1.15, finally emerged from h a Strong demand for Tho Stock which it ,0 Tho 1is that level however considerable 3iir.2 seems to to directed against thu Stock. Bethlehem steel. Which had Beer practically inactive around the 40 level advanced quickly up to us what looked like Short covering for once that demand was satisfied it slipped right Hack to its old level Crucible seems to be entirely devoid activities ind fluctuated aimlessly Between c band 68. Rop Tibio steel continues to lose 1 ground what looks like slow ii oui 1 elation. Foj Zuj through c. M. Lampson sons and these drought satisfactory prices something Over fifty pairs live breeders have been recently sold by the company and these will be shipped to the United states and Western with the Breed the lord Selkirk Manitoba Strain largely featured. Dome mines show Gross recovery per ton Dominion livestock . Toronto april mines approximate earnings statement for three months ended March .11 last show Gross recovery from tone an average recovery js.01s per ton. and be enral costs were 5ssc.051.63 54 Par ton. Dominion income tax deduction was leaving net operating earn Ings to this is Ulcley mis Cellaneous earnings giving total earnings for Quarter prior to depreciation and depletion Ness cause for the Security markets during the Pas week. Money in other words credit i As necessary to tile financial markets to those Trade in the markets As cheap productions costs Are to and successful Industry. During the weel funds have flowed into new York from All parts the country and As in any other commodity when there is an Over abundance rates have Sag de and markets again have the re sources with which to carry . Light Money brings liquidation under these circumstances the be Havior the Market this week has offered a Strong contract to Itiat a Tew weeks ago when Money rates Ere at about High a level As they Ever attain. Credit was Beins taken Iway from the markets that is Banks Ivere ailing Loans. There was Little Money available and that at a rather prohibitive Price. Consequently prices stocks were weak and liquidation waa insistent. Now with Money being offered freely an More , the Stock Market has attained fairly Good degree buoyancy. The circumstances that have at tended the recent break and the cur rent rally Are significant. There Are those who maintain that Small Changres in Money rates arc not important from the Market standpoint and yet the prevailing rates Are relatively very about one per it is hard to escape from the conclusion that this email reduction in the credit situation is chiefly responsible for the week s buoyancy. Naturally the important question is How Long will these easy Money rates continue that can for the most part be Only a matter con Jecture Tor there Are so Many influences responsible that to do so one would have to be Able to see into the future. But it is virtually the unanimous banking men who have been giving a lot attention to the credit situation that the present easy rates should continue for some time. Three cents gallon California state Senate has passed i gasoline tax Bill increasing tax from cents n. Gallon. Sterling Exchange. F associated press Des Poluh now York april Sterling change at 6-8 for sixty Day Bills and 4.7s 3-s Rov demand. Foreign bar Silver ski 7-s. Canadian dollars 1-32. Francs demand 5.21 1-2. Jire. Demand -1.0s 3-4. Reserves decrease. Associated Tress Alch 1 new York april the actual conditions Clearing House Banks and Trust companies for he Tecl show a Ilc flit in Reserve this is a decrease in Reserve com pared Wilh last week Whon an excess Reserve was reported. The end the Wnek. National breweries shares staged their usual week end rally perhaps in anticipation an Over sunday settlement the Price War. Saturday s published report that the Ames Holden Macready com Pany limited had tie finitely decided to discontinue business in the near future was commented upon today by d. Lome Mcgibbon chairman the Board. Or. Mcgibbon stated that no de finite decision had As yet been arrived at and that action any drastic nature toward liquidation reorganization would not be taken until the situation and prospects improvement in conditions were Stu died from every viewpoint. He added that the company since re Organ has drastically Cut Down operating expends but i3 still show ing losses and was unable to meet the Bond interest flue in March owing to the precarious conditions sur rounding Tho Boot shoe Indus try in Canada. The problem confronting the own ers and management he stated is How to overcome this condition affairs. Plans for connecting the fac tories into one unit Ara being considered and also the elimination the sales branches at Central Points where stocks merchandise Are carried. Even with the effecting economies through pursuing a policy the nature outlined it is unfortunately still problematical As whether not the company can operate without loss and thus tide Over difficult period brought about by the present unfortunate Industrial situation he said. It is probably unnecessary to said . Mcgibbon that those engaged in manufacturing in tills country whose Market is con fined to Canada fully recognize without wishing to stress economic differences opinion that our prob lems Are rendered acute with the de Niagara Power companies show decreased earnings associated press despatch new York april combined report the Canadian Niagara Power company Ana the Niagara Falls Power for the Quarter ended March 31, shows a net income 5708.152 after taxes and charges have been deducted. In come the preceding Quarter was se6s.016, while for the first it was Copper stocks Spielt Tiff i Orro de cd file Kenne Colt Miami Ray cons. Railroad sulcus Atchison halt. Ohio ran. A cml Ray. Chicago x West n go our. Ltd Valley m o., Kan. Tea. To. Pacific com to. Pacific new Haven n. Y. Central Xor Horn pact i Pennsylvania be re Marquette Hock Island 45 St. San it. St. Paul pad. Southern Pacific. Southern Ray. L non Pacillo Wabash a 63 am. Loco. Baldwin . Pullman co. Motor Stoulis Magneto Chandler general motors 74 Vij Hudson Maxwell m. A 103 Hack truck 149 Packard Stewart Warner. J City Winnipeg has five gain whole country has two . Gam 76 144 43 32 32 116vi 117 74 45% 6114 66 "4 73 45 73 s 45 67 34 Idi ii 164 i 104i 88 123% 124% 125 115 i 117 a s3 75 h 52 a Jos 21 a 74h 51 108 143% 21 52 109 151 21 a 64 a 42h 63 91 26 3 36 11814 67 inti 67 67 29 w open . Steel 2nd. Pad 9 i Abl till j Asl Jetoa corp. Cowans High 9 63% Juc 9 63 vat work Why not try to be Independent by the time you Are 45 50. It can be done creasing purchasing Power in evid ence in Canada and by larg Ely in creased importations in some cases from countries with much lower Standard living. This adds to the number the . Mcgibbon said that liabilities the company Are at. A minimum that in his opinion in the event Liju ideation taking place Tho share holders would Realise Little if and thing but that All Tho creditors should make Little if any loss when creditors Are disposed he said situation Bond holders will probably be better than is anticipated by Many. In conclusion to reiterated Tho the statement to the effect that Tho blows in this direction Bell Telephone Eraz. To fiction Romp. Papers Canada car 135 50 Canada car pm. 83 can. Steam. Can. Steam pad. 44 92 92 31 30 13s 135 50 23 a 23 m 83 44 v. 103 44 103 close 0 c-3% 64a 92 30 135 50 i 23 i 45 i 82 1214 44 a 103 81 17fu50va 16h 91 via 108 Cement 103 can. Cement 11414 11414 can. Converters Sla 81i can. Ind. Alch. 16v Dom. Bridge Olia canners 108 108 108 Dominion Glass Detroit United s a 8v . Steel com 2 i Dom. Textile Howard Smith Laurent de 81 Montreal Power 17b Nat. Breweries 48 Silvile -_1381 7114 26b 81 173 v 49 Penman s Price Bros. Quebec by. So. Can. Power. St. Flour. Shaw. Power smelters 148h 38b 92 81 30 .137 -1-4 69 92 81 30 70 148b 3sb 92 81 28 92 81 28 137% 137 69 69 u Why save Why not have a Good time and blow your Money most us like to have a Good time and get enjoyment out life thai wine reasons for with a Little stored up capital we can have Many luxuries Early which would be impossible otherwise and we r5 build lip a capital w Ucli will Clieve a from the necessity except financial Independence at 46 50 can be achieved by most men if n systematic plan accumulation is Hafs a Aoh Lalli Vei i men that age have any respectable sum Money their productive Days Are rapidly draw no to a close after the fiftieth year. Think Over your own Case Assoc lated editors. Totals. Canada january february. March april Spanish River 106 a 106v4 Spanish Niv. Or 119 119 119 119 steel u Canada. 84 is 84 Ster-1 can. Or 107 i Iota 10714 was. Kleu. A. 44i-4 44 i 43 v4 Loans 1925 100.55 100.35 100.35 ico.33 1931 _ 10240102.40102.40102.40 1957104.4o 104.40 104.40 104.40 1925, 5% 100.85 100.85 100.85 100.85 Victory Loans 1932 103.30 103.30 103.30 103.30 1ss7102.80 102.80 102.80 102.30 19j7 108.85 108.85 108.85 108.85 1933 106.41 106.41 106.41 106.41 1944. 9625 96.25 96.25 96.25 1934, 5v, 103.95103.35103.95103.95 1943, 102.25 103.25 102.25 Montreal _ 244 244 244 244 Roj Al 23514 235 a 235 a 225 .4 Studebaker 451-a 45 i Timken by. La 42 White motor 63 Over. Jiff. 91 90 Oil Atlantic Kenning Calif. Ansden 26 to Imperial Oil 28 int. Petrol. 24 Marlal Oil 1 act la pan Amer. A 73 a Phillips petrol. Z31.pure Oil 25% Royal dutch Sinclair Cong. Stand. Oil Cal. 58u ind. 61u stand. Oil . 41 stand. Oil . . 4114 Texas co. 44 vacuum Oil steel in. Steel f dries file Lokhem steel. 41ruck Halo 69 Gulf states steel Replogle steel 317 a sugar co. Cuban am. Sugar Cuba Cane Quirar 12vi tobacco tobacco products 76 a Oil. Prod. A department Sterit Stock Assoc. Dry goods Montgom. Ward. 47% 48ii National Drue 122vi ears Roebuck 156% 155 155 Woolworth 120 120 Public Utility a. Tel. Tel. 1k61j 136u 136 Columbia Gas 56ti 56u inns. Gas us. Serv. Of . J7 67 in reduction 105 105vi 10414 104h his Chalmers. 79 i am. Can co. 174 17514 173vi am. Int. Corp. 36 a am. 39h cast Iron pipe 158 155 a coca Oola. 93v4 cons oleum co. 29vs 29 29 Davison. Chemical 33vj Dipont 14t14 147 t Amous 97 97 96vi s y. 73h 7814 general electric. 271 i 272% 271vj int. Harvester 10ei 109 109v5 nil. Alcohol 8314 inc. Imer. Or. Pad. 43% 4414 43 43 int. Nickel 2e a 28% North Amer. Go. Phil. . Coal 41 %4 41h 41 i radio corp. 6oh 61 a Tex. Gilt Sulphur 11044 11 to a Worth Aston. P. 501i elec. 69 6ei 68 k. 68 ?4 pays mine option. Sault Ste. Marie ont., april Canada mines Syndicate London England has made a. Payment its option Tho Dine property in the Goudreau area., six Miles from Lochalsh. F Hartford Conn. A i Ordinary led a distinct j according 10 i he Bureau Here. Ary was local ;