Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 23, 1925, Winnipeg, Manitoba Manitoba free press the Buday april .23, 1925 i a. H. S. Murray protests against use of City sinking fund in buying tax Sale properties claiming principle dangerous. Of hip us ulc Trade and Commerce mines and the. Money markets Neumor Ger announcement is Clarence Dillon May ing control of world hectic trading culminates in b1c Bull rally foreign Exchange entire list regains tone several stocks even reaching new High Marks the United states Dollar was quoted at a Premium of 1-64 per cent. The British Pound was quoted at the Banks for Normal Price without Bank charges j4.s6 2-3. The Money of the countries of Continental Europe was for Sale at the following cents prices in Canadian special United cirs despatch to free Tress i Roe Tress private wire by Todd Wwright new York april Sharp Revtov try in the wheat Market late on wednesday helped to Check what it times threatened to become a general reaction on the Stock rec Iange in a rather hectic Flo of Trad intr. This brisk recovery started a fresh buying move ment in stocks to about the time when it appeared the bears would succeed in starting a general reaction. Earlier in the session they had launched two severe drives against leading Industrial shares causing losses of from three to eleven Points. However the main body of stocks withstood these attacks in Good style and despite the general i head lines several stocks were even Bill j up to now highs. The trading was almost wholly in professional hands and resulted in nothing but jumbled erratic movements from which it was impossible to Dis cover any different trend until the last hour when the entire list recovered and closed considerably above the lows for the Day. News is mixed the news of the Clay concerning Fin Ancial markets was also of a mixed character. Railroad car loadings continued heavy despite the reported re cession in business. In the week ended april 11, they totalled or greater than a year ago. Tha Virginia railway lease on a 6 per cent dividend basis was a further Indi cation that present systems Are work ins out on constructive consolidations voluntarily. On the other hand Wall French franc belgian franc Swiss franc italian lira greek drachma norwegian Crown _ danish Crown swedish Crown German reichsmark Spanish peseta dutch Guilder Day s Price 5.27 5.11 19.49 4.18 1.95 16.47 18.60 27.09 23.93 14.44 40.09 Normal Price 19.3 19.3 19.3 19.3 19.3 27.0 27.0 26.8 23.8 19.5 40.0 seeks limitation of Trade Competition motor and Oil groups d Eveo late strength heavy accumulation brings splendid come Back and gains Are numerous and Large Glyn Jones says cheap distribution is essential of the Union Pacific railway report for March. Decreases in 12 per cent in Gross and of 35 per cent in earn Ings were inspiring. The steel news was also disappoint both ing. The Iron age reported a further contraction in Mill shipments which seem to have been most pronounced in the Pittsburgh District. The trend and steel prices particularly p 2 Iron is also lower. Canadian railways plan co operation Thornton says fusion would pay fixed charges on both systems special Drupa sctt to the free press from stat correspond edit Ottawa ont., april of the two great railway companies of Canada would make it possible to save sufficient Money now expended in rival services to pay the fixed charges on both systems. This was the estimate Given this morning before the special railway committee of the House of commons by sir Henry Thornton president of the National railways. During the disc assign. Sir Henry announced that negotiations Between the two rail ways with the object of eliminating i tasteful or unnecessary Competition were proceeding apace. He Felt cer Tain that very real economies would result. Up to Date nothing definite had been accomplished but a com Mittee of representatives of both lines had been set up and was now busily engaged. Sir Henry forecast he Early elimination of one train per Day on both lines Between Tor onto and Ottawa and Ottawa and. Montreal or four trains All told. A Berta irrigated tract under government control that unrestricted Competition led to deception and crooked dealing involved shopping in an atmosphere of suspicion and created Mutual Dis Trust Between manufacturer whole Saler retailer and the Public was the statement of sir w. S. Glyn Jones of London Secretary of the proprietary articles Trade association in addressing1 members of. The Druff Trade at luncheon yesterday at the Marlborough hotel Ort the and sir William pointed out in the matter of proprietary articles the manufacturer made them and the i Public wanted to buy them. They i both needed a cheap and efficient distributing machine and this was provided by the shop keeping Community. In the absence of a fixed Selling Price experience showed that prices of such commodities reached so Low a level that there was no profit. To prevent this m 1896 the was founded starting with a list of fifteen articles. It now had More than sir William was the guest of Winnipeg druggists at luncheon tuesday at the Manitoba club. My prices operations will be immediately resumed on the Canada land and Florri Galion company s area West of medi Cine hat says the Medicine hat . Arrangements have been completed whereby Kon. Charle s Stewart minis ter of the Interior will act As sent for the receiver of the company and will by in full control. D. W. Hays will to general manager and under his direction both the Headri Tartera office at Medicine hat and the office at will be fully staffed and efforts made to Only instil Confidence into the present land owners but to make every possible Endeavor to in a tace further settlement. J. Vav. My Lane leaves at once with messes. King and Porter to re open the Vauxhall office. The concluding of negotiations be tween the Federal government and the receiver places Only the water Supply under the jurisdiction of the department of the Interior but full control of the entire project including the Sale of farm lands and the Exten Sion of the area under water. Fuck Inley Darragh shows strength on mine Exchange Canadian press Toronto april Rose and Mckinley Darragh featured this morning s Dull session if the Standard mining Exchange. Mckinley Darragh one of the most Active on the Board climbed 2 Points to 3414. But la Rose following the general trend slumped 2vi Points at Clifton dropped 1 at 11. Light declines were common. New York Cotton Dork. Martin co May july oct. Dec. Ian. March open 34.65 24.93 2-1.70 2-1.53 24.53 24.63 2-1.63 24.97 24.73 24.s4 24.5s 24.73 Low 24.40 24.73 24.44 24.55 24.39 close 24.58 24.30 24.70 24.so 24.58 24.60 24.73 York spots. 24. So. Five Points up. April 21, 1925. Allan. Killam Mckay ltd., furnish the following approximate Bond quotations pre fix letters arc Moody s ratings Means rating yet issued. Price yield aaa. Bell Telephone -5, 3955 99.00 5.0v x Grain 1339 99.00 6.60 aaa . 1961 76.31 4.7u aaa can. Pao. Fly. 4j4. 1944 93.50 Baa can. Steamships. 5. 1943 8o.oo 7.00 a Calgary 1954 -100.755.45 aaa Dom. Of Canada guar. 5. 1954 10.1.50 4.92 aaa Dom. Of Canada guar. 193s 97.00 4.88 a Duke Price Power 6. 3949 100.50 5.96 a Edmonton schools 5, 1953 93.50 5.45 aaa Praser companies 6, 195o 97.50 6.20 aaa International paper . 6, 1955 96.00 6.30 a Laurent de Power 1s46 102.00 5.35 Ana Manitoba 4. 1947 87.81 4.90 aaa Manitoba 5. 1943 free prov. Taxes 102.00 Baa Manitoba Power 7. 1941._ 104.00 6.0o a Montreal trams. A is 55. 92.00 5.55 aaa 5, 1936 _ 100.50 4.94 x Northwestern utilities 7, 1938 100.00 7.00 aaa Ontario Hydro. 1960 95.75 4.80 aaa Ontario 5, 194s 101.75 4.85 x Ottawa River Power 6 a. 1953 101.00 6.40 x Ottawa Montreal Power 1949 101.00 6.41 x port Alfred pulp Power 1945 _ 9100740 Baa Quebec Power 6. 1953. 102 00 5 8u 71 Stewart terminals 6 a 1938 99.50 6.6u a Saskatchewan. 1344. 9501 4 9u i Simpsons ltd., 19h5 x St. Lawrence paper 1944 100.00 65u a thre Rivera. 5. 1958 99.50 e o5 aaa Toronto 1931 j 9823480 a Vancouver 5, 1955 1008? 4 9b x Woods 6, 1943 96 so 630 aaa Wynn Lusk water District of 1943 Jeri no in Wynn Loeb electric. 6.ts54 Igloo 630 Baa Vestern Power 5. I949. 93 32 5 to a West Kootenay Power 6. 1943 103.00 5.73 Montreal trading marked by Many recessions Canadian Tress despatch Montreal april trading on wednesday s Stock Market was marked by by a general reaction in prices. Atlantic sugar common was the most prominent in regard to activity closing at 27% for a loss of 1% Points. Second in activity came Lauren tide. This Issue suffered a recession of one Point at 30, after having sold Down to the new Low of 7914. National breweries closed at for a Joss of mexican Power preferred was the Strong feature of the session closing at 5914 for a gain of a half. The Only two stocks to gain ground were Dominion textile and Mackay preferred each up Dominion Bridge suite red the greatest Joss suffering a recession of four Points at is. Other stocks to move toward lower Levels were Abi Tibi off 1 Atlantic sugar Oft a Canada steamships preferred of 1 Detroit railway off 2 to the new Low of 6 Dominion canners off Montreal Power off Span ish River off 1, and steel of Canada. Oil 1. Total sales Bonds 545.500. New York curb close. Osier. Hammond Wanton Standard. Oil of Indiana 62% to 63 Standard Oil of new York 41% to 4 Imperial Oil 29 to 29ij. International Petroleum 24% to "4 Continental Oil 2314 to Continental Oil rights. 7d to is. British american Oil 39. Stocks and Bonds investment securities bought and sold on All principal exchanges. Private wire Winnipeg Toronto now York Osler Hammond Nanton limited investment brokers financial and general insurance agents Winnipeg associated press despatch new York april prices rallied briskly on wednesday after an Early period of irregularity. The recovery was aided by a Sharp rally in wheat gains of one to two Points being quite common at the close. United states steel common closed at and most of the Independent steels showed fractional improvement. Ludlum showed outstanding strength rising More than three Points to 36. A motor shares which have been weak the last few Days staged a splendid come Back. I Maxwell motors a opened at 75, sold Down to 71, and then rallied to closing. Just below that figure for a gain of three Points on the Day. Mack trucks closed nearly three Points higher at 1-15, while Hull son Ayillis Overland preferred and fierce Arrow common and preferred moved up one to nearly three Points. Oils show strength oils were tinder heavy accumulation in the late trading pan America i a rising nearly two Points to while Standard Oil of new Jersey Standard of of California California Petroleum Atlantic refining. Larland mexican Houston Tidewater inde pendent of and Gas und Union Oil of California closed a Point or so higher. Frisco common was bid up four Points to within a Small fraction of the year s High. Norfolk Western responded to the announcement that it had leased the virginian railway by moving up three Points to Money held ready at 4 per cent. Total sales 700 shares. Biscuit merger May be followed by War Continental baking May be behind new move in Canada special despatch to the Freo Tress Montreal april is soon to see a merry biscuit War if the predictions of those familiar with the Trade such is the forecast resulting from the proposed merger of several Canadian biscuit firms. The Continental baking of. New York is said to be behind the manoeuvre but Strong Competition is expected from a new biscuit making form which will shortly enter the Mon Treal Field with a capitalization of and several other Cana Dian concerns Are said to be hostile to the designs in the mat ter the merger. Negotiations Are stated to have been in Progress intermittently for some time while similar plans said to have been at tempted by the National biscuit company one of the largest con Cerns of its kind in the United states met with no Success. Brazilian is Leader in Dull Toronto Market employment by districts merest rises to Heights in Asbestos world Rumor runs merger announcement is read May seek world control employment conditions reported by the Dominion Bureau of statistics were better in february than in january in All parts of the Dominion except the Prairie provinces. They were however less Good than at the same time it St Vear in All parts except British Columbia. The Index numbers at the end of february were All Canada 87.0 maritime provinces 81.7 Quebec and Ontario Prairie provinces British Columbia 98.1. Winnipeg stocks listed Beaver fire co. 100 cans. Fire ins. Co. 50 Winnipeg april 22. Par bid a suced 105 55 can. Pacific by. 100 143v4 Crescent Creamery co. 100 60 it. W. Life co. 100 320___--- Honfi. I. And s. Assn. 100 60 Northern trusts co. 50 Union Bank of Canada 100 110 11116 Wipff. Elec. By. 100 95 unlisted by. Am. Of co., .25 3854 n. Star Oil co., pad 5 410 traders Bldr. Assn. 100 82 Western grocers pad. 100 29 30 can. 1 11 13 bin Foo mine Vynor 1925. 1931 1937 refunding 1928 1943.-.--- 1944 War loan 1927 1933.-------- Victory 1027 1933 1954 1937 109.05 109.10 quotations ii Victory Bonds Are for denominations. Sill As 1927. At 101.75 50 at 101.75. 5va per at 109 at 109.05 1.000 at 109.05. 1933_2i500 at 106.50 500 at 106.50. At 104.10. 100.30 100.60 102.00 104.00 104.20 100.60 102.35 102.60 96.75 96.80 101.75 101.90 103.35 103.40 102.60 106.40 106.60 104.00 104.15 Toronto april dullness was noticed in wed Esclay s Stock mar Ket. Brazilian traction was the Active Leader and after starting at 52 1-2 re ceded to 61 1-2. The weakest Stock among the ind trials was Dominion canners common which found n. Ion Point for the Day at 104 1-2, finishing at 303 3-4. Winni Peg electric common was moderately Strong in the morning session at 44, but receded later in thu Day to 43. Final transactions in Canadian Gen eral electric preferred were at 51 7-s. In the unlisted Section of the Market Imperial Oil closed at 20. British american Oil moved up one Point to 39, and the other stocks in the group held steady. Toronto railway Stubbs Wora traced n at 4 3-4. Bourse prices firm. Paris april were firm on the bourse today three per cent rentes 45 francs 20 centimes Exchange on London 92 francs so centimes five per cent loan 56 francs the United states Dollar was quoted at 13 francs 19 Cen times. Money at work raw material is Only one and some times a Small element in production costs Hinkl Cost of clothing due j Cost of raw Wool a the recent Rise in the Cost of raw Wool sufficient reason for a Good sized in the Price of suits of clothes ii crossbred wools form the principal Art of the world s Woollen clothing. Tho London Price for crossbred Wool is just about doubled since the recent slump and the Price of the finer Merino wools has advanced even More. One of the reasons for it is that our average consumption has doubled since the Rar. There seems to be grounds Here for our tailor to boost the Price of suits f his advances Are too great though ust remind him what one of the Lon Don authorities on Wool says a scout it Tho Price of Wool is relatively Small proportion of. The Cost of clothes. Very few suits even at the present High prices of Wool contain More than s3.25 of raw this fact is certainly generally known yet it is important in indicating that the High Cost of clothes is due mainly to High priced Wool copyright 1923, associated editors inc moot real stocks rail s Cowa open ,63v4 60 91 28 135 s2 23 43 is april 22. Low close 62 i 60 91 135 Montreal sales cil Dougall Cowans Montreal. April 22. Morning close. Atlantic at 370 at 28 25 at Bell at 135. At 52 4o at 617a. Brompton at 23. Canada at 60 at 102 30 at 101 can. Ind. At 16ft 60 at can. Steamships at 10 at con. At Dom. At 110. Dom. At 71. At 182h. At 81 315 at 80 155 at 79 ,4 60 at 79 Dom. At 107 5 at 105. Montreal at 177 1oo at Asbestos at 60. Nat. At 395 at 49 49% 149 90 80 a 136 69 Loo 118 83% 149b cab 90 80 28b 135 Sis 52 23 23 45b 43 43 101 i 16% Ziti 52 i 88 88 105 105 109 i 6 6 71 80 182 a 116% 116% 176 176 a 49v4 133% b 148 148b 39a 90 136 105 90 79v, 28b 136 68 105 1931 1937 Victory Loans 1928. 5% 1932 1927 1937 1933 1944 ,-4v4ft 1934. S a 1943, 5% Commerce _ Montreal Union Hammond Nanton Montreal april 22. Banks Sellers buyers Commerce 188 Dominion Imperial cd Montreal 195 Nova Scotia Royal _ Toronto Union miscellaneous brazilian traction l. P. Can. Pac. In . Can. Hement com _ can. Cement p cd 194 135 134 244 a 263 260 236 235 197 a 196 111 a 52 10214 114" 51 14 102 can. Car foundry com can. Steam com 12vi Dom. Bridge. 90 88 4 Dom. Textile 71 a 71 Lalo of Woods mall inc co. 182 Lauren tide 81 80 Montreal Power 177% 177 shawl Nisan w. P. Co. 137vi steel co. Of Canada 84 83 a elec. Call Bank of per cent. London per cell Sterling Cable Sterling Cable. New York Sterling demand Lontreal rate Between Sterling demand new York actual 479.25. Sterling sixties Montreal Between Sterling sixties is cd York 475.75. Now York funds Montreal rate Between special to tile Freo Tress Montreal april seems to be an expectation that an announce ment of the details of the Asbestos merger will make its appearance on saturday. G. Ross president 01 Asbestos corp., arrives at new York on Friday and on saturday a meeting of the directors of the company is be ing held there. The merger situation should come up for discussion and l All details were Complete it would be reasonable co look for an announce ment. The annual meeting of the com Pany is being held Here next wednes Day and by that time it seems As though some official pronouncement could be expected. World merger possible the recent Dodge Bros Purchase which again focussed Clarence Dillon of Dillon read co., in the Public Eye As a Man who does big things has Given Rise to the discussion of interest ing possibilities to come in the Asbestos world. From a production Point o View tie Ideal would be liking up of the producers of Canada and Rhodesia. Dillon read co., who have been moving in the Quebec Asbestos Situa Tion Are regarded As big enough to put Over Suchil Large International Deal. While there Are substantial Asbestos deposits in Russia these play a relatively unimportant part in the Market this leaves Quebec and Rhodesia As the Only two considerable producing centres. Quebec qty. 25 at 90 pad 5 it 306 so. Can. Power 15 at 80 a 10 at 80 Spanish River pfd-f-25 at 118. Spanish 75 105 Dom Mon 25 at by a 125 at so. War Loans i at 104.05. Vector a Loans 1 1933 7 at 106.60.1 1934 1 at 104.05. 1 Union 2 Bank of Montrealf-10 at 244 wok. 100 at 43 120 at 70 at 50 at 44 80 25 at 43 i. Afternoon sales reported by Cowans Montreal april 22. Close Atlantic at 25 at of at Atlantic Eutaw pad. 20 at 30 at 68 a 25 at 70. Bell 36 at 135 a 5 at 1s5. 40 at 110 at 51% Canada Cement 25 at 10114. Can. Ind. Alou hol 50 at 16% 43. Can. Steamships Frfd. 15 at 15 at i 60 fit Cona. At 68% 30 at 68v. Dominion at 109v4. Com. At 7ui 25 at at 80. Dom. At 100 at 106 25 at 105. Montroal at 176 20 at 20 at Asbestos at 91. Alt lbs at so. Can. At Spanish River at at 136. Spanish at 105. Steel of at 83. Dom. At 88. Victory loan. At 1.09.00. V. A. At 102.30. Bank of at Winnipeg at 43 50 at 4514. Mining stocks. Close. Osier. Hammond Nanton.1 Gold 31 to 35 Beaver 32 to Clifton 10v4 to 12 Crown 37 to 38, 38 to s3 Castle 80 to 81, 79 to 81 Indian 9 to 10 West dome consolidated 15a, 14 to 15 Everett s to 8v4 Hollinger , 14.10b Lake Shore 47 to 48 Mckinley 32v4 to 33 mining corporation 265b Nipissing 580 to 590 new Ray. 21 to 23, 21 to 23 Teck Hughes 1-Iob, 137 to 140 Tou Hoakes 31 to Trethewey 19 to 19v4 Vipond 117 to 119 Wright Hargreaves 440b capital 26 to 27. Stocks and shares on the Montreal Stock Exchange heavy and general registered at opening but pal is losses outnumber gains by 26 to i. Made that International paper earned per share and As reported at first. Special despatch to the free Presa Montreal april present Lack of Public interest was made Manifest on wednesday when some scattered liquidation Mada its appearance in. The local Market in addition to. The fact that the Public. Does habitually patronize the Market heavily for the few weeks around the income tax Date considerable unset Lement has been caused in the past. Few Days by the weakness of Wall Street. The result was that although offerings in the in stance of. No individual Stock resulted trading of de. prices was More general than t has. Been in weeks. In most cases it be noted that the Day s Osses were registered with the opening Iran actions after which there seemed an adequate Demari Dito hold them against . Net gains were outnumbered by losses 26 to p. While the average Price of. 20 listed stocks broke Over half a Point. It is expected that lower Levels May give the Market perspective and new stimulus. _ International paper was one of the Strong spots on the new Tork Board on wednesday. A. Wall Street author Ity commenting upon the showing made in the company s annual report recently published submits that the s5.16 per share on the shares of common does . Present an accurate picture of the 1924. This Contention is based upon the fact that the administration set up serve of for contingencies which was included in an item of representing contingencies and. Taxes. If for. The analysis this charge off largely a. Book keeping matter is applied to common there is revealed an earning Power of More Trian 510 per share on the common Stock. Rumours to the effect that. Hudon. Hebert cle., with two other Large a Lontreal wholesale grocery establishments were behind a plan to Start a new Chain of grocery were emphatically denied today by or. Zepherin Hebert. Or. Tebert stated that he has no knowledge of and would j be opposed to any such plan. New York stocks closing bids Clark Martin co. New York april 22. Open he Fth Low Coso Copper am. Smelting 9314 91% Anaconda de Pasco 46 Chile. 31% 31% 31% Gran inspiration 22-4 in Endecott 46% 46% 46si 10 Kay con. 11% 11v4 11% 11% Railroad Atchison .-.119 a 119% 119v4 bait. Ohio 73 a 73 73% can. Pac. Ry____144 144 143 cheap. Ohio 91 " Chic. 49% 4b a it. North pref.62 61v4 61v5 Kas. City South. 33 53 32% 33 Valley 77 mis., Kas. Tex. 22% 32v1 33 mis. Pac. Com.34-14 34 32% ills Pac. Pro. 77 new Haven 31 30% new York cen.114h 115% Northern Pacific _ 60 a 60 a 59% 60 Pennsylvania 44 44vi 44 Pere Marquette 65 Reading 71% 12v, 71 72 Rook Island 42 i 43v4 41% 43 a St. L. San. Or. 70% 73% 70% 73 St. Paul pret. 7 Southern Pacific .102% 104 102 a -103 Southern 87% St. L. 4s a 461-4 Union Pacific ___139v1 139% 137 Wabash com. 21 a 21 Wabash a 62 62 a 61% 6214 am. Car pay. -.197 198 am. 122 Baldwin 113. 109% 111 a Lima 63 Pullman co. Rally. Steel 123 motor Boch 31 a Chandler. 34 35% 33% 35 general motors 73v1 7414 73 74 Hudson 53v4 51% Jupp 17 a 16% 17 Mai. Motors a.__107 108 106 107 i Mack truck 142% 145% 141% 145. 63 45% 40% 61% 91 a 60v4 45% 40vi 60 4514 40% 61 v. 91fa 29% 277s 60 73% 38% 59h 4iy. _ 41 33 66 a 44 _ 102 a 23% 29% 26% 27 a 59 71% 25% 40% 41v4 40 321-. 657. 43 a 53va 41 a 13% 51% 39 h Packard .__20% Stewart Warner Studebaker 45% Tomk. Roller erg. White motors 60 a Willys Over. Old. 91% Oil Atlantic refining Petroleum 28% Cosden 26% Houston 59 Imperial Oil 29v. Int. Petroleum 24% Marland Oil Pacific Oil 55% pan am. A 72 Phillips petrol.38 a pure Oil 25% Royal dutch Sinclair cons. 18% stand. Oil of Cal. 58v4 stand. Oil of ind. 61% stand. Oil of . 41. Stand. Oil of . Texas co vacuum 84% 84% steel am. Steel Pound. Bethlehem steel 40 no. Fuel Iron. 32% re Cable rep. Iron steel 43% Sloss a Hetfield so u. S. Steel .__114% 11514 115 rubber Fishke rub. Co. 13% Goodrich .____51% u. S. Rubber 39% Gar beet sugar . Sug or co.62% 63% Urban. Am. Sugar Punta Alegre tobacco stocks am. Tobacco. Reynolds tobacco department store Assoc. Dry goods Montgomery Ward 46% 47% Shultze stores. Sears Roebuck .153 164woolworth. -------119% 120v4 119% 120% Public Utility stocks am. Tel. Tel .136% 136% 136% am. Water works 45 45 by k n Man. To. 38% 40% 38% Columbia Gas . "ons.gaa78. 78 77 pub. Serv. Of air 100% 100 pulled chemical 84 84% 84 Alula Chalmers 78 79 77va co. ".170 a 168 am. Express am. Int. . Am. Woolens .----39 i 41% Iron pipe .134v4 139% 133 ventral leather locaicola.99 100% 99 . 29v4 29 Continental can. 63 Corn products 38 Dupont .144% 143 a 144% Enid Scott Johnson. Famous players _ 96fa Fuelsch. Test 78 h Gen. Asphalt 49 electric __267 3tj North. Ore it. Harvester and. Alcohol int. Mer. M. Pad. Int. Nickel 28% . Paper. 51% Amer. Co. Pm. Read. Coal put Burgr Coal Piadlo corp._____60% Lemmons. Co _ sulph.l06 co a .29 3654 57 73% 7 26 a 18% 59 h 62% 41% 43 a 86 a 49 41 32 66 a 44 14% 5s 39 63% 29 53 74 7514 184% 109 i 152 a 154 40% 77% 65 t. 84% 8% Dominion Bonds Allan Killam Victory Bonds 5 19-27 1933 1-334 1937 War Bonds 19-25 1931 1937 loan 5v 1927 1932 refunding loan 192s _ 1943 refunding loan 1944 All rated aaa Mckay Ltd 106.50 104.10 109.00 5 100.40 102.2-5 104.00 101.90 0.03.40 100.60 102.35 4.60 4.97 4.57 4.56 4.58 4.5s 4 so 4. 98 4.80 4.80 96.so 4.75 by. Moody a. . Murray protests use of sinking fund to buy tax Sale lads 136 40% 139 15% 100 98 49% 268% 265 96 106 a so 41%41 it 61% 1o6 83% 4054 27% 51y. 49% 268% 106% 41v, s3 a 44% 39% 59v, Orth non pump 47 a Weaton grouse elec 105 49 -.46 v4 35 106% Metal markets. Canadian press despatch new York april steady electrolytic spot and futures 13 3-8. In steady spot and nearby 52.62 futures 62.37. Iron easy no. 1 nor Hern 21.00 to 22.00 no. 2, i20.0c to no. 2 Southern 20.00 to 21.00. Lead easy spot 7.65 to 7.75. Zinc St. Louis spot and fun ures 6.s5. Antimony spot. 11.50. At Copper spot s60 2s 6d futures. 2s 6d. Bectro t tic spot 12s 64 tin. 12s 6d futures s 6d. Lead spot 7s so futures ss.-, Zinc spot is futures s3. F making the claim that tha City of Winnipeg is really acting As a banker for i a own people who wish to Delav paying taxes a. H. S. Murray Mem Ber of the civic Bureau of the Board of Trade has written to the free press denouncing the system at present in Force through which the sinking fund trustees buy up in bloc tax Sale lands. I have consulted managers of four of the largest Trust companies in Winnipeg Oliree of the largest life Assur Ance companies in Winnipeg several mor Tsagris company. Managers Severa of the leading writes or. Murray and All say that a continuance of the present system if business conditions do improve will put the City in a very dangerous position. On the other hand Money today is More plentiful than it has been for the last fifteen years. Any investor who is willing to take 4 1-2 per cent half by for the two and a half years after the tax Sale will make an investment in this Way. Then if the property is thrown Back on his hands such an in Vestor can do what the municipal corporation cannot do. He can take Steps to make the property thus acquired Revenue bearing. Under the present method tha City after seven or years of taxes have piled up on the unredeemed property is forced into the position of putting the land up at Public auction and taking the Best pos sible Price that can be obtained. Seeks sound finance. In View Aid. Mclean s remarks at last night s meeting of Council it May be necessary to state that the honest intention of the parties from the Board of Trade who have been work ing on. This matter. Is for one min Ute to give a Chance to the Specular but the matter be decided by sound finance and what is in the Best interest of the City of Winnipeg. But Many people will Tell or. Mclean that if business conditions do improve and the present system goes on for much longer the City is heading for a very dangerous position. But let them change to the other method of getting All the investors to invest in the tax Sale properties possible then conditions in Winnipeg will take a leap Forward. Although the Council by a majority vote a Resolution asking the sinking 1 und trustees to buy them in agr air i do believe the matter will end there and i inter viewing them that one or two of the trustees Are sufficiently sound in the matter of sinking fund matters that they do want to buy the tax Sale properties. Or. I. L. Brit talk of Toronto says on Page 300 of his report on this subject in one Western City an average of 40 per cent of the land had been acquired by the City. The process of Tak ing Over lots is a process of killing local ree Raue Ana at the same time of lowering the Cost of local improve ments of an Ever diminishing area then he italicized the following unless we Are frankly to a policy of municipal zing land by taxation it is the Pilot of Wisdom either to Dis tribute the Burden or decrease it by decreasing the expenditure or both so that unoccupied land May continue to Bear a. Share of the Load until the ins of More prosperous times he says further Oil Page -31, when the City gets title to land after tax Nale either the total assessment thereon should be deducted from the total or the taxes thereon should provided or in the annual estimates. The prac Tice of the City paying taxes to the City and charging it to the capital account certainly has no justification and. Should foe Canada s Dollar at Par. Associated Preu despatch new York april Exchange irregular at 4.75 s-8 for sixty Day Bills and at 4.79 1-s for demand. Foreign bar Silver 66 3-4 Canadian dollars Par francs demand 5.18 lire demand 4.10. Bracken will open in binds fund chiefly housing commitments of Proy Antt proceeds of the Sale four and a half per Cei of the province of Jian for which will be opened Tive buildings today at a presence of Premier Job provincial treasurer their entirety for i maturing slay 15. Debenture obligations of Fth Toba government falling l Date amount to an Long to the series Ioc la i 3ti. The new Issert greater portion of the remainder Bent ready from sums received in ment of Loans under scheme. The series Kkt j1.0m.iim cent debentures was Isis housing scheme purposes of the municipalities whip from the government urn respecting a principal and interest to of this Sura being Fitl Treasury department h of Winnipeg registered St ventures and greater water District debentures these securities was the Sarafi a recent transaction of the government under authority o lation passed at the recent of the Manitoba legislate needs of the Sale being to retire part of the Kkt Lerik the series la also per cent debentures May 15, 1920, the Moc plied to Telephone the series 3j, cent Bonds of Date May was issued to provide funds loan purposes. Proceeds of win five per cent Issue Boldvc 1922, were applied to of the chief roads the Power Brandon Selkirk mental j21 petals Telephone constr Cilori i Manitoba school for the Deal is University soldiers taxation Nab and the tart ;