Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 25, 1925, Winnipeg, Manitoba Manitoba free press Winnipeg saturday april 25, 1925 life insurance in every aspect will be discussed at the Mani Toba life underwriters con Gress opening next week. News of the business world Trade and Commerce mines and the Money markets Reid and Dresser reports on Bingo mine show Low values i present Workings but remont mend More development life companies show interest will Welcome delegates meeting of underwriters will have social Side in addition of business meetings great interest by the executives of the life insurance companies Whoso heart of ticks arc located in the City n being taken in the Manitoba life underwriters Congress which is Fth puled to take place in the fort hotel on april 28 and 28. The Institute feature of the proceed Ings is Belinic organized for the occasion by the underwriters executive in. Co operation with the Manitoba University. Lectures from the technical aspect of life insurance will be delivered in theatre a of the University unix on tuesday morning while the sales demonstrations Lunche frn talks and a variety of Lite insurance subjects from the sell ins Ante will be features of the monday and tuesday afternoon ses Sions at the convention Headquarters fort Garry hotel. The head offices of Winnipeg companies Are co operating the committee of the underwriters to make the Congress one of the out standing gatherings of. Its kind from the standpoint of information entertainment and education for the visit a agents from outside Points. On i to Ere nine of tuesday april 2s, the life Assurance company Ivill entertain the underwriters As their guests for the evening. This entertainment will take the form of p dinner in the great West life lunch rooms after which two hours of vaudeville will be staged by Mem Bers of the staff in Hie company s theatre on t m Eit Rulh floor and this a turn will be followed by an in formal dance in the company s club rooms to. Morgan comptroller of the great West life is in charge of the arrangements for this evening. The programme the programme As at present out lined commences with registration at 9 o clock tuesday morning followed at 10 o clock with an invocation by Van Mcelheran j. H. O Connor will Welcome the delegates to Winnipeg and the first lecture on by pro Fessor l. A. H. Warren will follow immediately. A. O. Seller manager of the Phoenix Mutual. Minneapolis will give the final address of the morning. The afternoon session will com Smith fess Ltd take pleasure in announcing that or. F. G. Pumpelly formerly of Knight Pum Pelly Ltd., has become a member of their firm. Offices 1006 Mcarthur bldg. Private Exchange a7355. General insurance financial and real estate agents. F. G. Pumpelly announces his separation from his former associate a. S. Knight of Knight Pum Pelly Ltd., to become a Mem Ber of the firm of Smith fess Denison Ltd. J. H. O Connor president of the Winnipeg life underwriters association Mence with an address from j. J. Mcsweeney Hamilton Dominion president. A. O. Seller of Minn polls will talk on income insure Lime being allowed for Dis cuss on afterwards. The advantages and presentation of a Ordinary life by f. J. Ditori h limited pay life by John o Grady and o endowment by j. In. Routley and the ensuing discus Sion will conclude the afternoon ses Sion. At 0.15 All of the delegates will lie entertained by the great West life Assurance company. W. G. Muir of the new York life will Start off the programme on wednesday with a talk on Elemen Tal education for the and will be followed by m. D. Grant on now Lite insurance j. A. My Camus Dominion Secretary will address the delegates on the "l.u.a.c. And the morning will con clude with a sales demonstration staged by s. Bobowski and w. H. Zim Terman. Investments is the topic c. C. Ferguson general manager of tire great West life will speak on at the commencement of the last session is will be followed by r. I. Clancey speaking on business and partnership p. A. Will give an address of ways and Means of securing an interview and interesting your pros while Tho closing address will be on the topic the life under writer of the. milling co has excellent report Canadian press Cable London april ers milling and associated industries. Limited in a published report show excellent re sults for the past year. Not Only has the dividend on the common Stock been increased but the deferred shares re enter the dividend earn ing period. J mention is made of the Progress of the spicier company s undertakings in Canada having been seriously interfered with by the deficiency of the wheat crops in the the Stern states. I the company has been builldng1 a string1 of elevators throughout Western Canada. Life for rent one or two desirable 5 offices splendid Light Al ele q s Vator service and Good vault s s accommodation. Inspection in h voted. Apply building manager h office no. 607. Phone n6635. specify Ink the permanent not fade As time goes by. The Ink you can rely on. Good Bonds give lasting satisfaction carefully selected Bonds give satisfaction until maturity whether they have one ten or forty years to run. They provide Security for your capital a Good and stable income no form of investment is More readily Market Able under All conditions. Write for our current list of investment suggestions. Lindsay building Winnipeg. Wood go Myldy co., limited Telephone a2s64-5. Clark Martin co. Stocks Bonds and Grain direct private wire to principal markets. 232 Portage Avenue Winnipeg. Phones a2881-2882. Money to loan on first class City property at current rates. I 400 Garry better business is general Rule signs further improvement in Many districts according to Canada credit men s Assn. Cana Cluin Tress despatch Winnipeg april weekly it ado report of the Canadian. Credit men s Trust association limited reads Halifax wholesale Trade steady retailers report satisfactory business with fair collections. St. John wholesale Trade conditions Good and retail Trade Satis factory. Collections fair. Montreal boots and shoes sales show a Little improvement. Hard Ware business picking up. Sales in creasing although not As Good As former years at this time. Dry goods sales steady and Many firms working overtime owing to Spring Rush. Groceries sales remain about the same. Collections slow. Toronto in most wholesale lines steady business is being done volume approximately that of last year. Re Tail in some localities Competition is very keen especially for the smaller stores where they Are finding com petition with the Chain stores quite a. Problem. Reasonably Good on the whole. Winnipeg business steady Al though wet weather has slowed up retail demand to some extent. Collections fair. Regina wholesale Trade fair to brisk. Marked improvement noted in retail circles. Collections fair not being up to expectations. Calgary business generally in All seasonable lines is Good with signs of further improvement. Collections from merchants show signs of improvement. Vancouver no marked improve ment since previous report but better conditions looked for. Bito Stock Active on local Exchange Price jumps to 20 shares bought Bingo again was an Active Stock on Friday s session of the Winnipeg Stock Exchange. Prices ranged from 15 at the opening of the Market As High As 20 cents at which the closing transactions of the Day were made. All of the Stock was specified for immediate delivery which lends weight to the Assumption of a Little struggle underneath the surface for control of the local company prior to the annual meeting scheduled for monday. Proxies to vote Stock must be turned in by saturday at 2 -p.m., which accounts for the urgency in delivery of the Stock certificates. In All there were shares changing hands which added to thurs Day makes a Transfer of shares of Stock in two Days. The bidding was steady and the Stock mounted by cents and half cents from 15 to 20 cents. Experts reports on Bingo mine reach very similar conclusions present underground work of Little value but size of property and fact that it is practically unexplored May Merit further work. Strung rises to within five cents of parity Canadian Stock exchanges change hours of opening special despatch to the free Montreal april is expected to be taken by the Montreal Stock Exchange advancing the Exchange hours one hour in order to coincide with the hours of the new York Stock Exchange which on Mon Day starts on Daylight time one week ahead of the in this country. Toronto action taken Canad Iii press Toronto april Standard Stock and mining Exchange has Elded to Advance its hours of Trad ing commencing monday april 27, by Ona hour. It is understood that the Toronto Stock excl Iange will take similar action. More than unusual interest at. The present time Are Tho. Complete reports of Tho mine made by John a. Dresser mining geologist and j. A. Reid. . Both of course Are highly technical and con Tain voluminous reports of assay tens on samples taken from Tho mine but in Many respects they Are very similar documents. Air Dresser s report is dated Mon Treal dec. I 192-1, while or. Reid s report is dated Winnipeg dec. 5, 1324. Neither report is particularly on though both a Plant out that the property is Largo and Tho exploration work represented by Tho mine itself covers but a very Small area the whole and that it May to Worth Whilo to examine closely the surface of the rest of Tho prop erty. The following is a summary of Tho salient features of the two reports. The Dresser report the underground development Aioli was All examined comprises a Shaft 400 feet deep approximately boy feet drifts on each of four Levels altogether feet and three Cross cuts which have a. Total length of 170 feet. In All ss4 feet of Rock channels were Cut and the material assayed in 305 samples. Besides Toije several duplicate samples were taken and were assayed in. Order to Check results in to Vicinity of occurrences of visible Gold. I regret to report that no com Mercial Ore was found. Gold occurs in numerous places in the property but was found in no place in Quan Tity Large be profitably re lovered. The value of your wrap try therefore becomes that of a Prospect from which the urea Al ready worked must to entirely excluded. Describing the property already worked or. Dresser says the essential features of the vein Are a Small but Well defined fracture zone in the acid Volo Aniu rocks partial fill ing of the fracture zone by Quartz not accompanied by either carbonates or Fei Spathis minerals very sparing impregnation principally of the Rinartz by Sulphide of arsenic and Iron Lead Zinc and Copper and a Gold Content altogether insufficient to be of commercial value. Structurally the fracture zone otters a favourable Channel for the circulation of Gold bearing solutions which have evidently been present in some though Small amount. If thu smallness of Tho Gold Content is due to Lack of a sufficient Supply of thai in these solutions the property has no appreciable prospective value. One the other hand if the Scarcity of Gold in the Deposit was caused by unfavourable conditions of deposition As Jack of vein materials hav ing the character of precipitant the conditions Are More favourable and other veins on the property or even other parts of this vein where vein filling and Wall Rock May be of Dif Ferent character should be Worth investigation. It is known that the Rex mine half a mile., Distant is actually producing Gold though the profit of the operation is not known. Other veins in the Bingo group have been found to yield significant Zikies in a few places. Adjacent claims give Sim Ilar reports but with the lacs of facilities for assaying in the locality these reports must await verifications. On the whole since there is a work ing equipment on the ground it would seem advisable to obtain at a reasonably limited Cost As full in formation As possible of other veins on your own and on neighbouring properties that Are within working distance of your the Reid report the average of All the drifts in the mine is Over an average Width of 61 inches that being Over the total footage feet. The average the 203 North Cross Cut is 63 cents for the distance traversed. 59 feet and the average Tho 204 South Cross Cut is 64 cents for so feet. The average of the 400 South Cross Cut 230 feet South of Tho Shaft is 90 cents Over 54 feet. The distance the. Face of the 402 South Drift. The Best Drift in the mine is the 102 Drift which averages Over its length of 206 feet. This Drift has also Tho Best Patch Ore. In the mine namely 80 feet from a Point 55 feet South to 135 feet South it averages Over a Width of 49 inches. The country Rock is far too Low Grade to be any value aver aging As it does below All values of importance Are con fined to the veins and furthermore Tho vein is Only Rich where it is narrow two to eight inches and wider lenses Are very Low better values Are concentrated around the Shaft and diminish with distance therefrom. It was noted in the for Mer sampling that the South Side of the mine somewhat higher than the North and the same variation still exists in the present which a Tho Only Point agreement Between the two. This very great discrepancy Between the two results in forcibly brought to mind by comparing the average value for the whole mine obtained by the former per ton with that obtained by the lat ter in both cases the results Are extremely consistent and this variation cannot be Tho result of Tho usual sampling error. In View of the results shown above it is obvious that the mine As developed does not contain a work Able Grade of Ore. The vein itself undoubtedly carries Gold and in places assays quite High. The shoots. However Are Small and scattered and the values not sufficient in View of the narrow Width to allow it to ice worked with profit. The Cost of operating at Herb Lake would not be less at any rate than per ton and would Likely be around although a depth of 400 feet has been attained no improvement in values is to be noted. Therefore it is recommended that further underground work on this vein cease As regards Mill construction it should be limited merely to completing the erection of the present Mill building As it May be possibly used in the future. The property contains a Large is situated in a Good District. The territory has been Only slightly prospected on the surface but is known to contain a number of veins which Are practically Virgin. Tho Rex vein to the South is very continuous being traceable on the surface for feel in length and As the North end is Ai no great distance from the Bingo property it May possibly extend into it. A feature Well Worth consideration is the remarkably wide dissemination of Low value and it is not improbable that there May be somewhere in this slightly Mineral Zed area concentration of sufficient size which would make an Ore body. A the work to Date has been practically done on the one vein and in no Case can the property be said to have been thoroughly prospected. R would recommend tha some More work be done on the property before it is finally aban Waits for Federal govt. To prosecute fruit ring i of the fruit marketing Combine alleged in the Duncan report to exist in Western Canada rests with the Federal we ramen to according1 to Hon. A. M. Manson attorney general British Columbia says the Vancouver province. According to or. Manson British Columbia has waived his privileges in the matter of the proposed prosecutions believing that Ottawa which undertook the Duncan investigation to in the circumstances gated to initiate action. Or. Glans on declared Manitoba and Saskatchewan View the matter similarly Alberta has yet to decide lie said. In the it vent that Ottawa does not act or. Manson said to would lose no time in determining lust what action British Columbia could take of her account. Netherlands investment company of Canada limited mining stocks Osier Hammond Gold to 34 Beaver 34 to 35 Clifton 10 to 11 Crown Reserve 3s to 39, to 41 Castle 80 to 81 Indian 9 to West dome cons a 1414 to 15 Everett 8 to sol Hollinger 14.10 to .14.25, 14.10b Mckinley 37 to 38 mining corporation 260 to 265 new Ray to 23 Teck Hughes. 140 to 143 Tou Hoakes 30 to 31 i Pond 119a, 122, 117 to 120 Capitol 29 to 30. Metal markets associated press be Simedo new april firm electrolytic spot and futures him spot and nearby futures j53.75. Iron steady prices unchanged. Steady spot. ?7.75. Zinc firm Bast St. Louis spot and futures ?7.00 to Antimony spot at Copper spot 15s futures i5a electrolytic spot fi61 15s futures 5s. Tin. Spot 7s 6d futures 12s so. Lead spot 17s futures. 7s 6d. Zinc spot 2s 6d futures 2s 6d. Canada s Trade d declines f Canadian press despatch Ottawa april 24. During the fiscal year closing March 31, Canada s Trade totalled or less than the year previous. The greatest decrease however was in. M ports. These Are Down in comparison with the. Previous year. Domestic exports Are up by c. P. R. Earnings special Des Antcli to the free press Montreal april earn Ings of the Canadian Pacific railway for the week ending april 31, 1925, were a decrease from the same Welc last year of when earnings were Street railway profits Edmonton s radial railway made a record showing in March a sur plus of under supt. Cunning Ham Tho system has a surplus c50 already this year a and the Amoun would have been larger if slashes Hac not been made for depreciation. Where the . Dollar goes the above Chart has teen prepared by officials the Canadian National railways to show How Gross income Dollar was spent during 1924. The total amounts represented by Tho segments of the Circle Are fuel. Materials supplies and other operating1 expenses. Taxes equipment and facility rentals Etc balance available to apply on fixed charges explaining the expenditure the official statement from the railway reads in it is not Dollar. of it remains and finds its Way into every Channel of Industry and Commerce. As can Ibe seen wages paid to employees constitute by far the greater portion of expenditure. There Are almost employees who get their share of the company s revenues twice a month and Money therefore circulates from on. End of Canada to the other. Nor of it remains unproductive but Aid directly in the. Stimulation. Of Trade and Commerce in every Centre Wilder the distribution takes place. The. Greater part of course is rimmed lately diverted into the channels o Trade but a considerable portion goes into savings Banks building and loan associations insurance am other forms of investment. Then Are communities that Are Almos solely dependent upon the Money which the system distributes in. Thi Way. No Enterprise in Canada is surf a Large purchaser of supplies As the Canadian. National railways. Where Ever it is possible do so these sup piles Ai e purchased in Canada fron products manufactured by the Cana Dian Workman or mined in Canadian. goal will probably be reached in near future Gold reserves declared sufficient special United in Vvs despatch to free Tress by 1 ree Tress private wire by Todd w. Wright new York april the absence of any major developments in he Stock or Grain markets most interesting event was the new lost War High made by Sterling it just five cents from parity. The problem is no longer one of England s ability to restore the found to its pre War parity. That appears Likely of achievement a the immediate future. The popu a question has become whether or not England can maintain the parity miss after it has been restored. It s generally conceded that England s old reserves while by no Means excessive would ibo Ade quate to meet any Ordinary demand hat an unrestricted Gold basis might develop. On the other hand those who Are n favor of having the Bank of eng and Mark time for the present time Point out that a parity Standard achieved by appreciating the value of the Pound would increase the problem of paying England s foreign debts. It would amount in effect hey declare to advancing the Price Gold. However there Are just As Strong or stronger arguments on the other Side so the most important question is whether or not England an obtain Gold without difficulty when it is needed and there seems ittle doubt of this. London april 24. British trea Iury officials decline to comment on reports from new York that lire at Britain is seeking a Largo Bonds Allan Killam Mckay Ltd. Victory Bonds Price yield 1927 5-i.oo 1933106.50 4.60 1934. 104.10 4.97 1937109.w 4.57 War loan 5 1925 100.40 4.55 1331.____ 102.35 4.58 1937 104.00 4.os renewal loan 1927101.30 1933.____ 19s.40 4.9s Fie finding loan 5 192s 100.60 4.so 1043 102.35 -1.su refunding loan 1944. 96.80 4.75 All rated aaa Liy Moody. Montreal Tindull train l. Dominion textiles close at 1 on expectation of statement j Foj loan from United states Bankers for the purpose of keeping the Pound Sterling at Par when that value has been restored. For More than a week financial newspapers published Here have hinted that such a loan is being negotiated. Treasury j officials declare these reports Asen tirely As nothing has been authorized. I Canadian National earnings decrease Canadian i Rewaj . Montreal april 24. The Gross earnings of the Canadian National railways for the week ending april 21 1925, were being a decrease of Over the or responding week of -j.924. The Gross earnings Canadian National railways from Jan. 1 to april 21, 1925 were. Being a decrease of As compared with the Cor responding period of 192 j. New fish Oil Plant. Cittoria ., april 24. Following the announcement that the Esperanza fisheries and the Dominion development company would shortly establish reduction plants on the West coast of Vancouver Island for the production of fish Oil and fish meal comes a third announcement from Tho Wal lace fisheries that they will also build a.1 reduction Plant on the West coast of Vancouver Inland where Small fish especially pilchard Are plentiful. Special despatch to us Montreal april of the Stock Exchange weeks have been less than those of Friday off to a very Low void drifted aimlessly with of changes in the Down Tion. Net losses of ult gains 14 to j while the of Twenty listed stocks Point. Dominion Brid least inactive Issue and the Strong spots win a net to come ont of the e Bridge. T Dominion textiles Julid Advance of 1% Points was Lar but no great j amount was Ferou Trot out ithe Price Back to 73vi on moderate j ing. This would indicate tar cars Are pretty Well satisfied to events. Early in the year a pro vement set in Over the Coni that prevailed throughout expanded to almost capacity tons and has been Well Shipments to Europe. It is it tons of concentrate from mine Kimberley will he. S through new Westminster Titis to Belgium a and Holland says the to., Youver province Meta ment will be divided Between port and Vancouver and will at least tons per month in Jim you i the Rannard guarantee we guarantee that you must feel satisfied with any shoe you May buy Here. If a pair of Rannard shoes for men Ever fails to live up to expectations you Are convinced for any reason that they were not intrinsically Worth the Price you paid for bring them Back and get a new pair. The guarantee holds for men s shoes at at just As Well As for those at and 10, or for a pair of plots heirs at 13.50 and i my it in Bri Bro Drc can. Can. 1- cols Lam Mori asst Abc i s at at Shaw 82 Way v. A , v. I bunt ban riot Bui to Robt Bru a ski con. Dom 1.kui head office Toronto Bond coupons y7ictory Bond coupons May be cashed at any Branch ;