Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 15, 1925, Winnipeg, Manitoba Manitoba free press Winnipeg saturday August 1925 11 bituminous Coal merger in1 United states seeks to revive whole Industry on new basis of reorganization. News of the business world Trade and Commerce mines and the Money markets Western grocers Sells out re Gina warehouse Stock and equip ment to Macdonald s Consoli dated. May enter other Points. Ujj Jye of buying s average t9record Peak of High priced industrials Centre of Atten Tion in new York to j York aug. Speculators be Advance staged another his inc movement in Friday s carried the Gen Price average to the pc to a Story and the Gen hl5f Al Road average to the highest de Over eight Points to Clos ing near the top and Sears Roebuck advanced 7 Points to 197, duplicating the year s High and then fell Back 3 Points. Norfolk and Western assumed the leadership in the rail group by mov ing up nearly four Points to the highest Price since 1916, when the Stock crossed 47. New Haven moved up to the highest Palco since 1d20. Call Money renewed at 4 per cent holding steady at that. Figure throughout the session. Time Money rates also displayed an easier ten Dency sixty to ninety Day funds be ing quoted at 4 to 4% per cent in Stead of to 4h, with a corresponding reduction in the longer maturities. Commercial paper rates were unchanged. Total sales shares. Buoyant widespread record top at 3231 at 144, internal Wiar ked recovery seen in european railroading new York aug. 14. President a. Humphrey of Westinghouse air Brake company returning from a tour of plants in Europe states the recovery in Europe in the past year la startling. Due primarily to stabilizing of currencies balancing of budgets and proved workability of Dawes plan. 4ave of realizing in these is Kubont opened 11 Points Raun general motors open a Point Wisher at 02 and closed r. Progress is most notable in railroads. Bigger receipts Canadian Tross despatch Montreal . Receipts of the Montreal Tramway commis Sion Tor the year amounted to Macdonald buys Western grocers w. P. Riley states Western grocers contemplate entering new Job Bing Points in West Canadian Pacific railway pipe jump an increase of approximately 5cod.ooo Over the previous your the annual report of the commission shows. Comfort in old age votes if you can save a during your earning years. A decision to place a de finite proportion of you earn in a savings account each week or each month is the first step. 30 the Canadian Bank of Commerce with which is amalgamated the Bank of Hamilton capital paid up Reserve fund or c. G. K. Noums manager Winnipeg Branch g. Min Agar main and Mcdermot Branch h. G. Hurlburt manner 13 other branches in Winnipeg announcement was made yester Day by w. P. Hiley president of Western grocers limited that the company had sold its wholesale warehouse Stock of merchandise and office and warehouse equipment at Hegina to Mac Oriald s Consoli dated limited. Or. Hiley also intimated that the company was. Contemplating establishing itself at other jobbing Points where it is not now represented. It has been a Well recognized fact for some said or. Riley that there Are far too Many whole Sale grocery houses at Regina. Both wholesalers and retailers in that Arket realize that. We have had Nice turnover of groceries there my our future in the Regina mar it was As Good As any grocery ouse represented there. We also ave Well equipped wholesale afro Ery houses at Moose jaw Brandon or ton and Saskatoon All of which enter Regina territory.-. A satisfactory offer while our future in Regina was i Good As any wholesale grocery doing by siness in Regina it happened that we were made a ony satisfactory offer for our real state and merchandise and we Cepter. We in Western grocers limited ave great Faith in the future devel pent of this Western country. We Olieva it is on the up Grade now and continue steadily so. West in grocers limited is making its ians to profit from that expected development. Our policy is to sex and and increase our operations and business wherever satisfactory Opportunity offers. We Are and shall Continuo to be one of the Large wholesale grocery institutions of Canada always with an aggressive us Ness building policy. But it is Lio roughly realized in the Trade hat both the retail and wholesale business at some Points is verdome and that readjustments lust be made. At Regina we have old. At other Points when oppor Unity offers we expect to Pur Osle Hammond Nanton limited established 1883. Winnipeg. Stocks and Bonds insurance representing Law Union and Rock insurance co., new York underwriters Agency Western Assurance co., Queen Assurance co., Northern Assurance co., ltd., guarantee company of North America Alliance Assurance co., ltd., of London England. Mortgage investments representing Law Union and Rock insurance co. Investment North of Scotland Canadian mortgage co., ltd., Dominion of Canada investment and debenture co., ltd., Osier and Nanton Trust co. Farm lands Selling agents for Calgary and Edmonton land co. Ltd., Canada Saskatchewan land co., ltd., Winnipeg Western land corporation. Coal wholesale and retail mortgage Loans c. S. Gunn company 905 Union Trust building phone n9631 loan correspondents the Prudential insurance company of America John Haig All Trade lines Winnipeg Centre Are moving Well tip rating a Pensas big Coal merger seeks to effect Complete control although the Canadian Pacific railway made a better showing in june . Bituminous Coal Industry can be revived by intelligent reorganization of Industry Bod prices i a to i the smaller reduction in expenses As compared with earnings resulted in a decrease in the net operating Revenue irom. To stocks and shares on the Montreal Stock Exchange eight new highs attained in Broad of paper group is River s annual meeting billed for sept. Corp asserts full dividends will be paid this year. Eneral Trade reports Over Canada indicate fair present volume and very Bright prospects Winnipeg aug. Weekly Rade report of the Canadian credit men s Trust association limited Eads Halifax wholesalers report fair volume of business moving and re Tail Trade quiet. St. John the Outlook in whole Sale Trade circles is improving Ana retail Trade fair. Collections Satis factory. Montreal boots and have been fairly Good for the past week collections not very Good. Fair collections not very Good. Have been very steady for the past week collections fair. Dry fair collections very slow. Torono wholesale and retail Trade reasonably Active. The Indus trial situation is slightly better. Tire and rubber factories very. Busy. Electrical manufacturing fair Only but other lines of Industry show signs of picking up. Prospects of returns from the agricultural pro ducts Are. Good. Winnipeg the favourable anticipations in connection with the Harvest is having a stimulating effect o practically All lines of wholesale Trade. Greater activity being re ported in dry goods clothing boots and slides hardware and Kindred lines. Retail business in the City fair. Collections have been holding up pretty well1 Regina wholesale Trade reported steady with improvement shown in some lines and prospects Good. Re Tail Trade fair generally. Collections quiet. Saskatoon wholesale Trade fair retail Trade poor with the except lion of groceries. Collections fair. Calgary business in excess of last year is inclined to be quiet pending the approach of Harvest which will soon be in full swing collections show signs of improvement. Edmonton wholesale Trade very Active on account of Northern traders business. Other business Normal. Vancouver wholesalers report business in most lines fairly Good with collections fair to Good. Buy cars week in connection with the exhibition is having a stimulating effect on. Sales. Us. Cotton stocks Are greater than last year Clark Martin co Washington aug. Bureau reports july consumption lint Cotton 4s3.s98 month ago year ago 347 099. Total consumption aug. 1, 1924, to july 21. 1925, was against 3.6so.s54 previous year. Stocks of Cotton exclusive of lint Era july 31, Nas in manufacturing establishments 366 350 month ago year ago special despatch to the free press Montreal que., aug. 14. Trading was less hectic on the local Exchange on Friday with a considerable failing Oft in volume prices continued to mount in a broader list with eight stocks Selling up to their Best Levels for the year. Those to establish new highs were brazilian Cement pfd., consolidated smelting Howard Smith Montreal Power Porto Rico Quebec Power and Shawinigan. A growing Public in Terest is claimed for the present ii Arket and generally about the treet one encounters an optimistic Eeling. A better tone in some of the paper issues was a feature of the Day and Ane that was welcomed for this Sec Ion has been decidedly Dull in the face of a generally rising Market. Steel of Canada moved upward in More Active trading than has appeared in that Issue in some time. Certainly this is one which would appear out of line with the rest Oil the list when its unusually Strong Loci did position is considered. The fact that the steel business is faced with a not too Bright Outlook does not exactly apply to this com Pany which extremely diversified output of Small products. An improvement in Price by some of the paper shares was a. Feature a 5% Point Advance by Howard Smith outstanding while Spanish River was up the pad. Up 1, and up announcement was made Friday that the annual meeting of Spanish River. Be held on september 24 no that it is Likely that tha annual financial statement for the year end. Cd june 30 will be available for publication in the course of the next two weeks. As has already been published in. These columns this report will show a surplus of about 000 after All charges including pad. And common dividends. A report from Toronto states provincial paper has this year exper ended much better conditions than ast year. Howard Smith like this company is largely interested in Fine Parker and they Are also reported to be encountering much improved business conditions. Quebec Power continues a feature Here the Issue on Friday moving up to the new High level of 116. While the increasing popularity of Utility stocks to a certain extent explains the buying in this Stock there is a disposition to regard the Outlook for this company As unusually Bright and those in close touch with the company Point to its balance Sheet As one of remarkable strength. A new development from which this company will secure considerable business is in the construction near Quebec City of the Anglo Canadian paper Mill which it. Is estimated will begin production about the Middle of next year. A production of 200 tons daily will mean that the company will Purchase from Quebec pow for about horsepower. Friday s development in the Asbestos situation came in the form of a letter going Forward to shareholders of the Asbestos corporation in which directors follow up their circular letter of july 23 and in which is stated the present position of the company and its prospects and an outline of the present merger Situa Tion As it exists with regard to the Sno Ciul uni cd Naivs despatch n Kree fihs by i mitc private wire by Todd w. Wright new York aug. Bituminous Coal merger greater in size than any of the half dozen who Are re Mored to be under consideration in various Fields has been in the course of investigation by one of the big Gest Banks in Wall Street for Sev eral months., it was Learned in authoritative quarters today. If the plan is consummated the Consolida Tion will be put in effect this fall. The two largest companies engaged in mining and distributing Coal in this country the Pittsburgh Coal company and the consolidation Coal company Are including in. A group of More than 12 Largo companies which being considered As the nucleus of a corporation which will assume the in the Coal Industry that the United states steel corporation demands in the steel Industry. No actual negotiations no actual Reigot Wallins which might Lead to alignment of the pro erties considered have taken place far but geological and financial statements of More than a dozen companies in Pennsylvania West Irginia Kentucky Ohio and Illi ois have been studied As a basis f valuation to be used for Neotia on later. No Anthracite proper is Are involved. It is believed by officials of the Ank having the proposition under advisement that an effective revival the Coal Industry can be listed through intelligent Consoli Atlon and that Security values Irlich have suffered declines can be stored. The merger would be Rought about with the idea of com ining the lowest Cost producing mines of the companies and Perma entry abandoning High Cost in Rof table mines. Unless appraisals of unlined ton age and property and equipment an to agreed upon by owners of he leading companies however the attempt probably Wilt be abandoned. A consolidation which i will give virtual control Over the Industry is realized to be the Only basis upon Volch any merger can successfully e carried out. If consummated Here will be a Public offering of ome kind. General tone of British markets is much better August 15, 3925. Allan jail land Mckay lad. Fur Nesli the following Bond of quota Tlona. These quotations Are approximate and subject to Market fluctuation. Frovin Tal and municipal Security Kate Mot. Price prov. 5 19435100.50 i Rov. Of Alberta 4 v4 3954 93.70 i Rov of Brit. Columbia b 1941 309.75 prov of Manitoba a i 1944 95.so i Rov. Of Jian Tolm 5 1943 300.75 prov of Manitoba. 4 1947 87.25 prov. Of Ontario 6 1936 108.25 prov of Ontario 5vi 1942 306.00 of Ontario s 3948 301.35 prov. Of Ontario 4 a 1944 95.75 prov. Ont. Hydro 4 1957 85.75 prov of sat. 6 1636 307.50 prov of sask 5 1943 from. Of Kask. 4% 1944 94.25 Man. Guar 4 3330 94.75 r no r Deb. Zvy 1951 76.00 . Dom. Guar 4 1334 92.25 Winnieg 5 1944 101.25 Public Wilt Ami lnd.jm.1 3944 Metal prices show stronger tendency Copper prices Are at 14.95 from Large producers special United news Trew by rec i Rev site wire new York aug. Buy ing is in Small volume hero and abroad. Prices Are firm in the do i in Estic Market Jim slightly stronger Dell Telephone Jamaica Public service Dufter Price Power 5 3955 614 1943 1949 Manitoba Power 7 1941 Winnipeg elect Rio 3954 Montreal trams 5 1335 Dominion of Ctina a 5vi 1927 refunding 5 1328 s 3911 renewal 1932 39 33 1934 Svi 1937 refunding 5 1943 1944 abroad. Large producers Retro above the Market her and abroad Iski Nir 14.95 cents abroad and 14. Cents delivered Here. Electrolytic Copper for Domestic shipment is corns n Pound delivered to end of october. Inc buying is in better volume and Price is up Slit holy with prime West Ern Zinc 7.57 i cents a Pound East St. Louis compared with 7.55 thurs Day. American smelling and Hafl Riino company s York Lead Price is 0.25 cents t and Rit. Joseph Lead is under Moo a to be portioning 302.00 305.25 10s.85 104.10 308.90 97.20 eighteen assignments. Canadian Trens do Piucci Ottawa Auk. Of is is Eig ments under the bankruptcy act appears in the current Issue of the Canada Gazette. 9.60 to 0.16 cents St. Louis. Smaller producers and dealers Aro premiums of 7s cents per 100 pounds or even for prompt Lead above these prices at both Points. New Winnipeg company Ottawa h. Incorporation of Ine real i Illus Llo Niery Mills of Canada ltd., Winnipeg with Capi Tal of is announced in week k Gazelle. Company. Perhaps the most significant statement in this latest circular is to the effect that despite lower prices than last year the indications Are that the net profits for this year will show an increase of at least 40 per cent Over last year and that full dividends can be distributed with depreciation amply cared for. And that the results next year will be As Good if not better notwithstanding the present keen Competition. The letter is signed by the president the vice president and Al the directors. Financial notes i u oldest distillers in the world v sold Only in bottles and bottled by the John Haig it a Markinch v bigger orpheus earnings report of orpheus circuit co., inc and subsidiaries for six months ended june 30, 1925, shows net of is after interest depreciation Federal taxes preferred etc., to a share earned on shares Par value. This compares with a share in first six months of 1924. Buys 51st Plant american can co. Has acquired the factory of Central bag Mann factoring co. At Chicago says the Wall St. Journal. This is the fourth Plant for american can in that City and or or the total in the United. States to 51. New chairman appointed axel1 Carlander former chairman of the Board of directors has elected president and managing director of the swedish american line la succession to the late Dan Bros trom according to an official announcement s to Den. Or. Garlanded is a Well known Gothenburg business Man having served As president of chamber of Commerce and port commission of the City and As president of the Board of aldermen . Capital for Alberta reports from Letlo Bridge Teil of the reorganization of the Majestic collieries ltd., with the help of new capital brought in by Chicago interests. The company has also secured the services of the Occidental fuel company of Winnipeg As sell no agents the. Loth Bridge. reports Spokane agents have also been appointed which goes to show., the extended Market which Alberta Coal is finding. _ a mine controversy controversy is raging round the mine in. British Columbia. 4. Large meeting of shareholders at a Independent meeting held last week resulted in the passage of a Mot Cui recommending that any offer to negotiate the Sale of the mine should be withdrawn. of Dunwell mines limited Robert. Stewart was present and dialled tha in general he was in agreement the recommendation. A general meeting of the. Company was bub tested for aug. 21. F t buys waterworks Victoria Lias taken Over the Esquimalt waterworks through medium expropriation agreement with the company tic and an a in a Purchase Price of payment to be spread Over a period inn tar to of Vears according to the colonist. Negotiations had been in Progress for Many months other bodies and. The announcement As made created some stir in Van Couver Island Cir la. Metal markets. New to run York Auk. Copper firm electrolytic spot and futures 14 3-4 to tin spot and futures 5s.25. Iron. Nearby steady prices unchanged. Firm so to Zinc firm East St Louis spot and futures 7.57 to 7.60 Antimony spot 18.00 to 18.25. At spot 12s 6d futures 32s 6d. Bice truly tic spot futures 10s tin spot 7s 6d futures 17s 6d. Lead spot 12s 6d lotuses 5s. Zinc spot 15s fun Turea 2s 6d, july Trade returns give . Favourable balance associated Tress desnatch.1 aug. Trade or july showed a favourable balance to he United states of imports were while exports were for the same month 1924. Exports were and imports were new York Cotton. Oct. Clark Martin co open High Low close 23.29 23.54 23.16 23.5 23.65 23.77 23.39 23.7 Tan. 23.05 23.28 22.91 23.2 March 23.31 23.60 23.22 23.56 23.63 23.92 23.54 23.0 up 25. Canadian mining stocks. Osier Hammond Nanton Argo Gold 24 to Beaver to 32, Crown Reserve 16 to Castle 93 to. 94. Indian 4 to s. West dome cone., 33 to 34. Hollinger 14.75 to 14.80. Kirkland 42a. Keeley Iso to 161. Lakes lore 640 to 650. Mckinley 22v4. 22v4 to 23. Teck Hughes 166 to 168. Teml skating 16 to is. Vipond 120 to 123. Capitol mines 31 to 33. Premier 200 bid. New York curb. Osier Hammond Nanton Standard Oil of Standard Oil of new Imperial International Continental British american to 35 Reo to -1h Banks. Nova a jail la Ion i5a. Further reduction in Bank of eng land is expected in financial circles Canadian Cable London aug. The stimulus of the reduction of the Bank rate from 5 to 4% per cent by the Bank of England last week the improve ment in investment values continued and Many operators indeed were sanguine enough to expect a further reduction yesterday. As a result of the disappointment because this did not occur the markets towards the close of this week have been a trifle More subdued although their Gen eral aspect was steady. A further reduction in the Bank rate nevertheless will not Likely he Long delayed in Ovder to pave the Way for another governmental con version scheme. Stocks have remained particularly Bright throughout the week new zealand six per cents be ing notable at 107. Home rails this week have been almost at the lowest Point of the year partly because it is now sex the Stock Exchange account a Man closed yesterday must have proved eminently satisfactory both for the investors and speculators on the Bull Side. Remarkable rises have been witnessed in almost every Sec Tion except Oil and rubber. Prob ably Many of these rises Are frankly on the speculative Side although certain varieties like Iron and steel have been cheered by the armistice in the dispute Between the Coal miners and Coal line owners. The Price movement in textiles has been somewhat narrower and to Bacco which has been running Tex tiles close in popular fancy has been Ess Hort Teru offers All Trust company services head office Victory building Winnipeg. Branches Regina Calgary t. R. Billett co. Stacks and unlisted securities 307 Paris building Winnipeg new arrivals in fall suiting Duncan Cameron merchant tailor. 307 fort Street eat. 1895 a2725 an investment catalogue the fourth edition of the new greenshields catalogue gives capitalization financial stand ing and earnings Over a period of years on Over 50 leading can Adian and describes them. Revised to Date. Please address dept. Greenshields co Montreal 17 St. John Street also mount Royal hotel building Toronto 14 King Street Ottawa 46 Elgin Street in the Days to come what part will you take in business life five ten fifteen years from now will you be the head of a business catering to the buying Power of a greater population or will you be Content to Drift along with the tide the Man with Man who realizes the possibilities of future opportunities in Canada and determines that he will seize them is the Man who will Lay the foundation of his future capital out of his present earnings. Art for a Meatus of your s43i the sure shield Fortune Cobic and Fortune goes a Dominion life policy goes on monthly income As Long As she lives ask our agent for particulars. 1s69 Assurance company Waterloo Clark Martin stocks Bonds and Grain dirt Privat. Wir. To principal . 232 Portage Winnipeg phones a2881-2882 ;