Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 31, 1925, Winnipeg, Manitoba 12 Manitoba free press Winnipeg Friday july 31, 1925 Winnipeg shows weekly Bank clearings less by Over 15 millions from last year. Montreal and Toronto also decline. News of the business world Trade and Commerce mines and the Money markets British business ing increasing into Dian Market Winnipeg shows big decline in Bank clearings decrease is Over 15 million from last year Montreal and Toronto also less a of in Winnipeg Bank cd a rings is the feature of i he list published yesterday of the Clear Ings in Tho principal centres of the do minion for the week ended yesterday. The Winnipeg total stood at compared with 555.177.057 in the Cor responding week of last year. Montreal. Toronto an Vancouver also All showed smaller clearings the decline the first Namer City being almost Anri in the last named. The Complete list is As follows end of Tiv. Curl s july 30. 25 july .11 24 i2.ss5.4s6 Foreit Exchange in j9.000.000 000. Halifax. St. John Moncton Sherbrooke Quebec. Montreal Ottawa. King soon Toronto Hamilton Brantford Jondon i Tref nor Windsor fort wll Lam Winnipeg Brandon Brandon. Saskatoon Mooso jaw. Prince Albertt Thyrl dip Mortl Cine hat new Westminster. Vancouver Vlot oru. The United states Dollar was quoted at. A discount 7snton. Montreal Luly 30. Of Merce Dominion Imperial to Montreal Nova Scotia Royn Toronto Union l. Sellers. 207 2co 249 v 236 117 buyers. 206 205 198 249 273 235 205 116 Winnipeg railway preferred was up two Points to and the common 14 Tower at sales Are better. Sales of the Canadian Western Lum Ber company in Hay totalled j270 045 As against in the correspond ing month last year. The showing for the first five months of the year How Ever Are less favourable sales being Down s2ii.ooo in that period. Brazilian trac. O an. Pacific cd Tan. Elec can. Cement common fan. C fluent preferred car dry. Common steamships common can. Steamships preferred cd Nln. Bride Domlin. Textile Lake of Woods it. Co Njau Renolde co Montreal Power Oil Lyle Millings co Quebec railway i. H. It p. Hhan a Olgan w. P. Co steel co. Of can. Common exec Tuy Money on Call 5 per Tient. Money time per cent. Sle i Hng Cable transfers 485va. Sterling Cable. New York 1855 a. Montreal rate Between 54 116 39 11 46. By 86 182 81 194 162 107 163% 86 52v4 58v, 52 114 37 love 45% 87ft 85 180 81 194 160 106 163 85h 52 Winnipeg after a stay of three months in Toronto. When i went East in april t expected from the reports i had read to find things in a very depressed condition. They were not nearly so bad As i anticipated and they have improved a great Deal during the sum Mer months. It is True of course that All the factories Are net yet working to canal . And it is hardly Likely that they will be for some time to come. It seems to be becoming generally recognized that in certain lines at least Canada s establishments Are much n Advance of its present requirements and that Complete Relief cannot be expected until population and Purchas no Power Are materially increased. It is exceedingly encouraging to note the materially increased interest that is being shown in this Market by Brit ish manufacturers of All classes of goods. Very Effort has been made since the War by Tho British Trade commissioners in Canada and other agencies to induce the principals of firms to obtain first hand knowledge of the country and who har they May Lay claim to Tho results or not. There can be. No question that greater number have visited Canada this summer than in any year since the War. There is every reason to suppose that after this first experience they will make the trip frequently in Tho future. Quite a number of these visitors travelled All across Canada and opened up business relations in Winni Peg and Vancouver. To an Ever increasing extent however the industrialization of Canada develops our business in Semi manufactured articles is growing and the Market for British goods is consequently limited to Tho manufacturing areas of the country. Every Effort is being made to in Duce British firms to exhibit at Tho Canadian National exhibition. For Tho last two years the federation of Brit ish industries have organized consid Erable displays on behalf of their Mem Bers while our own office in Toronto has had a Bureau of information for the last seven years. There is every Rea son to believe that British participation this year will be on a larger scale than Over 3500 2000 1500 1000 us. I i i j liabilities to tha Public Saeta Quick 11to. Thornton asks . Holders to sue is convinced of legality of Cana Dian position ,0ffers to expedite court action 1 ice trend of Bank liabilities and assets during May 1935, was moderately downward. The liabilities to the Public declined from april to in May while Quick and Al Quad assets were in May compared with in april stocks and shares on the Montreal Stock Exchange reactionary tone More in evidence with smelters declining sharply and outnumbering gains 19 to situation crops up again with breweries Stock showing River expected to make Good showing in forthcoming Dillon deals with Asbestos situation. Stu new York Montreal rate Between York actual demand nos Stem june 485 h. Sterling sixties Banks 480 Sterling sixties. 481. Tork funds. Montreal rate Banks per cent discount. Saibs reported by Mcd outfall Rota Montreal. Tull Atlantic Fusar pad. 25 at 81 v4. 465 at 58vi. Brompton paper 90 at 22 25 at 21. Canada Cement 75 at los i 100 25 at 100 it 10sv4. In Adan Industrial alcohol 25 at 25 at 15. Can. Steamships 115 at can. Pad. S at 46. Consolidated 175 at. 105 25 at 25 at 105 a 835 10414 55 at 103 75 at 185 at 102 20 it 220 at 185 a Al . Fisheries 5 at 43 65 at 10 at 81 10 at Dominion at 110 Volco at 48 10 at babe Nina it 74. At 330 at .3 100 at Alt lbs it Ogle via at 160 Quebec at 106 Spanish at 10314 105 at 102. Htee of at Dominion at War loan at 104.45 Victory Joan at 106 Victory loan at 103.80. Bank of Nova at 249 Bank of at 249. Royal at 235 40 at. So. At 81 15 Bank of it 106 at 52 t so 140 at 519i 5 at 51 it 75 electric at 96, afternoon Bales reported by Mcdo Urall Cowans Montreal july Atlantic at 40 at Atlantic Sukar at 81. 135 at 581i 25 at Brompton at 21. A Juula at in Milan Nilu Strzal at 15 100 n t 15 v6. Canadian at consolidated at .-104w 300 at 105. . Steel 2nd at 7 Dominion at 85 . At 30 at 43 20 it 43vi 25 it at 81 10 at. Dominion at Price fit Montreal at 80 at 194vi 65 it 194u. Asbestos at -74 25 at Asbestos -25 at 25 at National 70 at 60 at 210 at 45 20 Abi Elbl at 65v, 25 at 65 of Lvie it 160. At 158. Quebec. At 106 10 at 105h Southern Canada at 75. Steel of at-85va. Dominion at 87v, War . At 104.45. at 51 u 60 at 35 of. 52 50 at 5214 Winnipeg electric at 95 special ecu much o tree i Rem Montreal july reaction Ary tendency which developed on tuesday and wednesday expanded in the local Market thursday with a wider Ranee of stocks coming in for Selling fifth orig a the Market Ivas less Active. Net losses outnumbered net. Gains 19 to 9, and the looses were generally of greater magnitude smelter was a Aln the Active Leader and dipped sharply to 102, but re covered toward the close to 10 which represented a net loss of Only a Point. There appears to to no specla.1 cause for these gyrations in the Stock other than its recent hinge Rise. Beer and fish were the Strong spots the former Stock springing into prominence in the final hour. Bank stocks were More than usually Active with about shares traded in. Two issues in this group touched new highs Commerce being up a Point at 206 and Nova Scotia a Quarter at 274v4. Canners broke 5% to v there was something of a revival of interest in National breweries shares after the Stock had been neglected during the morning session. The buying the Price to 4-5, and following a period of Many Weeke Durlyne which the Price War Between local Brewers been a dead Issue there was again talk of an impending settlement. There seems to be at this time no suggestion of negotiations for the Piir chaos of Frontenac either by National breweries or other interests. The Street seems to believe that the War will be terminated when Frontenac withdraws its Premium Cap Sules. Just what the effect of a settlement of the Price War at. This time would be is difficult to judge tha action of the Stock since the dividend was passed suggests that stories of losses being suffered by the breweries have been consider ably exaggerated. There was some uneasiness Amons the paper stocks on thursday a Ltd Alt lbs getting Down below 64 and Spanish dropping to 10 2. To far As can be Learned is More than anything else a reflection of the re cent weakness of International paper and Union bag on the new York Market. This last time the local Market had an upturn the papers rather sur prised the Street by demonstrating that they still had it in Thorn to move on occasion. They have taken practically no part in the upswing which has been in Progress for the past few Days. Many have been casting expectant eyes in the direction of this group however As it is confidently expected that the Forth coming Span Eli River statement will prove of a character to furnish considerable stimulus to the group in general. For two Days the Asbestos corporation issues have Given no hint As to what Progress was being made on the merger Deal and no further enlightenment. Has been received from official sources. Owing to the fact that Selling of the issues dried up in spite of the extreme uncertainty which has prevailed Many Are disposed to take a More cheerful View As to the technical position of the stocks. For one Telny this is a reflection of the Effort made some Days Back by a substantial group of shareholders to insure the consummation of the merger. Tha scene of negotiations shifted on wednesday o new York where it was under stood or. Dillon himself would give he Asbestos situation his attention. It s. Shipping Board lines serving he entire Range of brazilian ports have afforded United states Manu a splendid Opportunity to nit their products into the rapidly developing markets of Brazil states Clifford Smith director for Brazil or the emergency Fleet Corpora Ion. To followers of brazilian faction the statement from such source that Brazil s Trade is Anding will probably prove of raging. Canadian Fresn Derpa tuft Montreal july order that there might be no misconception with respect to the attitude of rail Road administration in the matter of the grand trunk Pacific debenture Stock interest the following copy of a letter written by sir Henry Thorn ton to Alfred Barnard Secretary of the grand trunk Pacific debenture holders committee in London was Given out for publication at Cana Dian National Headquarters Here. The letter reads As you Are aware the liability of the. Grand trunk railway com Pany now a part of he Canadian National railway system with re Spect to certain debenture Slock is sued by the grand trunk Pacific railway company under the author Ity of chapter 100 of the statutes of Canada 1906, has been the subject of controversy. The Legal department of the Canadian National railway com Pany has advised me thai the Posi Tion taken by the company hereto fore is sound. In order further to assure myself this however he under discussion submitted to messes. Brown Montgom Ery and Mcmichael barristers of Montreal for an. Opinion. I venture to suggest that you examine the opinion of messes. Brown Montgomery and Mcmichael. And if you Are then still unconvinced of the legality of our position i will be glad to have the appropriate officers of this company discuss the. Matter in Canada with any representatives you May select in the Hope that we May convince you of the correctness of our attitude in the event of further disagreement i suggest that you bring an action in the courts to de Termine the Points at Issue. We would be Laii to join with you. In such a suit and expedite Tho Deci Sion in any decision handed Down tha courts will of course determine the division of costs As Well As the main question. Winnipeg stocks i Beall sufi of steel let turd Beaver of can. Firo ins. Co run. Pao. By. Bid. Ask. Mery an. Or Paceni tit. West inv. Kj6.co 106.z5 oj.75 104.10 108.90 10jmo arc fuses s at High level Todo More j for nut Howlier icon i n a j9 ,000 pm 1 106.10 i m cat 106.10 1.000 _ i 3.000 it 105.30. It ,-v.io i 09.15 1.000 109.10 Foo at 100 Oil Najj Public property on the he inquiry freight Ailway Board. Her in Oll and porn fit i it of Jwj Niter die state Tat a Rales the new York curb close Osier Hammond ;