Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 6, 1927, Winnipeg, Manitoba 14 Manitoba free press Winnipeg wednesday july Wolvin issues further state ment replying to latest moves of bundle of National Trust in big Besco firsht. Trade and Commerce mines and the Money markets Wall Street l_.0 in forthcoming submission . Of great railway of . Foreign Exchange brazilian also closes higher at Montreal with recovery j general in list special do a nth to the Montreal. July recovery of j minted values continued in tuesday s i up salons of the Locktu Market. Which presented uniform although Oci Vaneps More int Erato in Chav Petrr on expectations vor1- proved justified. And the local Market from a gone rally firm tone in Walt Street this encouraged Ray rates and the Prospect of Wal afer Togo Lier with encouraging by ? lenders respecting the second half of the current year. The Day was productive of no news direct bearing upon tiny of he pock a of the local list. Advances ars accounted for by Tho n9 t turn Pylon t hat the. Reaction was Over j Rit Iio. J to Lead the mar Ket in Art Lvir a. This Issue furnish a Sharps. Tho Advance and the Stock pained at in other stocks there was profit taken on Tho part of traders. Who considered prices round the Bottom of the recent do extrom 1 y cheap for such is sues. In Tho Case of brazilian there i has already been better than a ten j a gent recovery. J we l i r it did lit t e on monday smelters slaved a belated rally today p no was the Strong spot of the Day a net gain of 11 Points. Little been made of smelters in a Saccu Way fur a Iong time before the i break a fact Whu a rather Accentual Fri its decline to below 230. The j amount of trading in smelters has of stir Ngali with i Vii cd it is held. To most of the j erasers holding smelters a decline j a5 that just witnessed Means j the United states Dollar was quoted at n Premium of vib of per cent. The Brit Khz Pound was quoted at Normal Price with exit Bank charges 64.36 2-3. Tho following quotations arc in cents per unit of foreign currency Par today s country value Price belgian Belga. 33.90 13.96 brazilian ill res 64.62 11.uo danish Krone 26.80 2g.oo finnish Fin Mark 19.30 2.55 French franc 19.30 German Reitsc Hmark 23.82 13.67 grecian drachma 19.so dutch Florin 40.20 40.33 Indian Rupee 48.00 italian lira 19.30 5.57 norwegian Krone. 20.80 26.05 Spanish peseta. Swedish Krc a 2g.80 26.97 Swiss franc 19.30 19.38 Atlantic coast line is rail group Star Market shows duller trend i Mcdoil fall and Cowans open. High. Low. Close. A Lubi. 94 Lifavi Asbestos 213 i 2-1 4 Acsbok. Cor. Pei. Of a i As is Avian lie 23 2.1 Savi Bell Telephone .m7 147 h7 h7 brn Kluun Ifil a if 159 Brompton Paour 3a Canada Cir. 38 c8 36 30 Cun. Car . A us a . Slem. Bunij 08 68 comon ------125 125 125 cauda Cement i Ali u2 140 142 can. Can fut l lit no u Ciu Iada coup. So 34 9.can. Indus. Halcli. 32 a Duain. Bri Cir .170 Iso 178 i to Domlin. Liisi 117 lit is liquor group Strong in of Homo trading International Nickel shows Small decline on Day f Faiuu i Tress Toronto july 5.--Canadian Sto rfcs that Morr less Over looked i n the Arl Vancs on monday Camo for Pivarci tuesday gains on tins Toronto Stock exc Hiing. Seagram amid better than any of the dist Llory securities. It moved to 23-2 and finished Strong at that Price. Goo Derhan and Worts and til ram. Walker made gains of Points to 51 and 43 rospect.tvr.3y. Canadian la d us trial alcohol had a Pinuhar Sain to International Nickel moved Between 611 a and 62. The last transaction at a ret Elsion of on the great steel corporation has names on books there a cup p0.2gd holders of . Stock of the United states steel Cornora Tjon on the Date of closing books for the exit in Cash dividend Arr Mil a red with at the time of the payment of Tho March Quarter Tjie Ninaber of preferred j stockholders at the closing of books f t h e m a d 1 v Idon d a s compared i 72.o38 three months following table Mic i number of i Omilion h lock h old hrs Xvi dividend i for each Qatar for of the last four years 1926. 1025. 1024. .90.517 91.107 p3.712 second 9. J.44ti fl9.1s9 third.85.r5d fourth .ss.034 Oil stocks j Fosker. A Timond and Narumi British . Vulcan--2.35. Rolft Lite to Lauren tide 00 Ai d03t 90 b Howard Smith Tio so go to Uomino. Textile .1 m1- 112 la he Litkus of the woo cts .147 147 lev 147 i Mckay and l3u i 1 Mont. Power. S3 National . It in i i Terr Vytill -10 41 40 40 once . C 5 j Yaj kiy._.270 2vi 2ii3 i l Styli Canada Power 92 of 9 k d Fin i smokers 230 Spanish River 100 Tilini. Huv. Old Ijj-3 he a 112 .3 Secl of Canada ___134 k14 134 134. Steel o can. Pfd.137 .137 137 137 win. Elec. Illy.73 h 74 73 3i. 74 Montreal. Sales. Imeon Srail Cowans morning Fri Tifis. At 22 13u in 38 20 at 88 -2 30 at 88u 75 at 83. Atlantic at 23. Al 94 100 at of 400 at 36 25 a 200 at is at 60 at 36 100 Al 86u. At 151 100 it 1c 1.425 Al i Al la 200 at 16 250 at 50 Al 1np.i 22s at 223 at Ifil u 17f it. 161 80 at Lull 4 gift at 161 135 at 75 at 161 250 it at 1g1 70 at is it s05 Al. 103 100 it 1g1 150 at 160vi 40 at 1004 135 it. 130 a l.mi1 i at Iso to a at 150-. Ado at 100 70 at i 20 at 100 at. 1 tio11 650 at iso1.a 75 at knot a Ioli he Ido 100 at Fiou 30 a 40 ii id l Tjo at 1r01- 125 at 3d 160 at iso425 at. Ici 35 at 10 at 30 it to 32 a 60 ii 32. Canada 3s 3n he can. Scam a Toj a. S3 a menu Iii i.1 it 140 2a at my Al 142. Can. Al 94 at 79 200 73 fio at 173295 i t 178 10 at 25 at ill 130. Doin. Al i it. Houind a --55 at 13.40. Incl. It 32 1 to it 31 100 at 75 at 175 at 32 at 32. Int. At 01 a. 100 at iil7i. 275 a 62. 25 at 30 at is Al 61 i 50 Al i a 123 it 61, 20 at 250 by a. At 90-v at 2j it 35 i 25 n u5 at 35 -. 30 at 36. 50 at 35goo at 35 v. 25 at 36. Iso tit 40 at Mont real it 83 -. 10 at 63 National at 67, 30 at fi7t-d. Pen in at Qubi c Power--55 at j70. At. If at 25 r. I. V. 20 fit 100 at 264 50 at to at 266. Al at 83 i. 10 at u. 10 a1 mr3. 5 at 40 at 50 a. 150 Ai us s5 at 32 -. 3ijq at 82. of at 134. In 220. 25 at 219 v.-. L 5 at 25 at 21s i. 10 at 218, 615 it Jug. 10 a. 219 i 20 at. 220. Spani Roi at 90s. 120 at 99. Irish River 05 at 112 a. Inion 10 it m1--. Elco. It. 7310 at 7-4. Montreal curb . Oil 10 at 22. Coast. Copper--65 at in Imperial Oil 300 at 42, 30n at Scarra a is it. 23. To at. 23v 25 at 22. At 40 at 20.70. 25 a a at 24. Pfd--305 at r3 a Han Lic at j. A. Brazil---350 Ifil 25 it 101 at i6ri 25 Al. 161 55 it 37. At. 61 180 at 161 i 210 at. 161 200 u. 151 250 Al 10 Al 161ti. B Romp ton so a 32 5 at 10 at 32. Bel at h7. Can. Car---25 36. Can. Car at 08. Can. Steam at of Dom. Al 180 10 acc 179 2ft at 130 a 10 at Iso in at Flo a 10 at 130. Doin. At ind. At 60 at 31r 10 at 31 a 90 at int. At of i 10 at 61 v. 35 at full a 35 at 30 at at at fit 45 at 10 at s 10 at. 15 at 331.3 5 at. Special ten lid news despatch to free press by Pine press private wire Kui Mlih c. Waltzek York. July Samo Clement which guided the actions of the Stock it Root before the Bear group snatched control Rob exit Throe weeks in the Saddle tuesday and had Little trouble bringing about a substantial Rise in proc of. General motors was Tho feature and at the High of the Day was up Points from saturday s closing. Bald win was quiet and moved within a narrow Range until just before the a Hon it was marked up sharply. General electric made a top for nil time above 117. Balls were brought into lie limelight in the afternoon under tic leadership of Atlantic coast Lino which jumped five Points. Money was comparatively easy do a plur the fact that Bankers called no in Loans. The renewal rate for Call funds was per cent against 5 per cent. Friday Dick Lurt Mvi pm Fwy Shadlu or a period of dullness in both the Bond and Stock markets during portion of the month of july would occasion no great Surprise. This is be cause Many of the largest traders on the Are vacationing and also because those who have remained on the Job or Are in a position to keep in close touch with the markets arc not. Opt to take on Large commitments unto the business Outlook for the remainder of the Ynar becomes clearer. Am surface indications Point to a continuation of the same conservative operations which characterized the first six months of j027, although it is possible that unusual developments May of expected in the automobile Industry. The family budget. Is total budget f003 rent fuel j r h i j. The Cost of living As shown by this Dominica department of labor s family budget has fallen steadily since january and the amount at the end of May s20.85 per week. Was lower than in any month since Julur. 1925. The fall chiefly due to the fall of Cost of food which came Down to rents have remained unchanged at per week since september but fuel and Light have fallen slightly to 83.30 at the end of May i my Row at Dalaw bsds Well on Besco chief issues statement to effect that National Trust s plans involve wiping out of second preference and common Stock declares courts must assume control of Besco companies. Winnipeg stocks Bankers listed win Par i can. Fire his. Co can. Pac. Re Al West life ast no. Nor. Mort. Full nor. Mort. Paid nor. Trusts co Standard trusts co Stock declines Over 50 cents closes issues up two cents stocks .hil5 Vai in. Bid. No 95 100 inn 100 inn 50 6b 5. J ask e James. P. Banker 1. It y Louis w. Hill and Ivov Ard the Chicago. Milwaukee Obj it p has consistently opposed merger. This opposition Imp a i Lac to the belief that a Clurs May result if the Northem consolidated. Kuhn. Loell Field despatch in the airy. July Dai Housle Well number five it approximately j get. Is reported to be flowing 400 barrels a Day. This compares with 2rh yesterday and is regarded As one of Iho most important showings in the Turner Valley Field to Date. The Oil is not of As a Gravity As me Royality and the Vulcan but is said to be 42ibatune which is excellent commercial Oil. Stock or the Dalhousie on the Calgary Exchange has taken a corresponding jump and to Day was Selling at s2.30 per share on the Exchange. 30 at 35 i 50 Al 35 i so at 35 la 25 a i. Montreal at 34 5 at 50 a 83 i. National qut foe Puu-er--l5 lit 267 10 at 268 j at 50 at 271 25 at 270u 2fi at 271 it 82 150 Al 8212 45 a r2ai 15 at b2li 70 at 25 at Al 220u- 125 a 221 go a 222 10 at 2221 5 of 221 Al 22t i 10 at 10 tit 221h g5 at 222 50 a 223 Alto at 223 175 n. 224 it 2.i at 225 s5 it too a 100 at 227 100 at 228 5 at 300 at 100 at 223 70 at 220 5 Al 70 at 229 20c of 230. Spanish at 09 a 200 at 100. Dum. At los a. Montreal curb. I. A. It 2225 at 23. Coast at 10. Imperial at 42la. Seagram -70 at 23 at 49. To Toronto mines special tic Patch la the free i Montreal. Only Hoy m. Wolvin i marked another stage in the. Ions drawn tit Battle Beu Veen himself As i president of the British Empire steel j corporation and the National Trust company who have acted As receivers i for to o of a he Besco subsidiaries by issuing a further statement attacking the position taken tip by 5. Rundle general manager of the National Trust. I in this letter or. Woh in quotes a let j ver received by Hini from i. Trindle. I or. Wolvin s statement reads in i the National Trust company states j that a fair Sot Mcl and comprehensive i plan will require close and intensive study and reasonable examinations and investigations which should be car ried out in a Frank and open negotiation. I entirely agree find investigations have been made reports Are available the corporation s accounts j Are in perfect order showing results i of past operations and Frank Uncle open j negotiations and co Perallon have repeatedly been solicited. The attitude j of tiie National Trust company in this matter is illustrated by the finality of 1 the following letter them March shh 1027. J Roy m. Wolvin Esq. President British j Empire steel corporation Mon Treal que. I dear sir i of British Empire i steel corporation and Dominion steel i corporation limited. I on my return 10 Toronto follow ins our recent conference in Montreal. Tilt the next few years will see pref i found your letter of the 24r.h Ultimo and write so that you will receive development of inter Empire Trade. My reply immediately on your return was the opinion expressed by p. W. I to Montreal on sunday next. Field. British Trade commissioner at i nothing has occurred since my let Montreal who arrived in Winnipeg j Tor of the 12th Ultimo to change the yesterday and is on his Way to a. J views expressed therein. We Are still j conference of the British Trade com i convinced that in the interests of All missioners in Canada which will be i concerned it is not. Only essential that j held at Vancouver the week of july i the British Empire steel corporation i 11. Accompanying or. Field is o. P. And the Dominion steel corporation i limited be wound up but that this j should be accomplished As quickly As i possible. I i think no useful purpose would be served by prolonging this Cprrea Spon Donee. Suffice it to say that even if i you were prepared to give us the. Full i information and Access which we de sire the situation is far too big in Oxire opinion to be met by giving Stich facilities to one shareholder Only. To my mind the existing state of affairs imperatively Calls for the Assumption of control of those companies by the courts. Yours very truly w. E. Rundle. General or. Wolvin concludes his statement by making quite Clear his own Posi Tion in regard to the attitude of the National Trust. He says a winding up by the court whether done at the instance of a creditor or shareholder is immaterial can in my opinion Only have the effect of Alp i7ig out any equity or interest of the holders of the second preference and common Public Utility Bell Telephone co. Of Canada 5% Canada Northern Power corp. Ltd. Canadian Pacific railway East Kootenay Power co., Ltd 7% Gatineau Power company Manitoba Power company Ltd. Montreal Island Power company. Carrying warrants to Purchase 2 shares common with each Bond Montreal trans says company Ltd. Montreal tramways company Ltd. Montreal Light heat Power Northern Canada Power Ltd Northwestern utilities Ltd Ottawa Hull Power co., Ltd Ottawa River Power co., Ltd Southern Canada Power co., Ltd. Winnipeg electric co., Ltd 5% 5% 6% 7% ,6% 5 1c. Of. J-.4.u, v Winnipeg electric co., Ltd. 5% Industrial aluminium company of America. Canada paper company. Canada steamship lines. Canada steamship lines. St. Lawrence paper Mills Ltd St. Lawrence paper Mills Ltd cum. Warrants Windsor hotel company. Preferred stocks Eastern dairies Ltd. 7% Canada Northern Power corp., Ltd. 7% East Kootenay Power co. 5% 6% 5% 6% 6% East Kootenay Power co., Ltd Ottawa Hull Power co., Ltd Power corporation of Canada Ltd. 6% 3.02.50 103.50 96.00 105.00 97.25 100.00 101.00 99.75 96.25 100.50 102.75 102.25 105.00 104.00 99.50 101.00 100.00 100.00 100.25 99.00 99.00 101.50 105.50 99.00 100joo 100.00 100.00 96.00 4.85% 6.18% 4.85% 5.18% 5.50% 5.43% 5.02% 5.25% 4.95% 6.75% 5.60% 5.20% 5.05% 5.90% 5.00% 5.00% 5.90% 5.50% 6.15% 6.10% 6.26% s.95% 7.07% 7-00% 7-00% 7-00% 6.25% we invite your enquiries for investment service Nesbitt Thomson w company limited electric railway Chambers Winnipeg Montreal Quebec Ottawa taretto i Hamilton London oat. B93 j to Jamar Hichar Tson i at to _ i Aren _. Alias. Beinor. Barry i can. Lorraine i Central Manit i Corona i coma Gas Crown Reserve Caruol i Dupont dome1.___________ Don Rouen cold Anlo _ Gold no of Gold Hill Grajeda Grover Daley Molly _ to Nylon Karl Kirk Humon and sons. Ijtd.1 j opt noon close i 211 19 i 2m 242 2.16 i 2728 37 s i 4fl46 .__________355 i k Kenora Mck Llcy Moneta. Ivi ining corp. No Pissens Ray. Havre. Porcupine Crown Pioneer Potter Doal. Premier. Rouyn Sta Acona ijughe.-. I Thompson Kriet. Touch Vipond West tree i Fri Phil Margraves j wept dome Wakenda _ 7 to i 27 i 27 _. 20 10 .1025 7 to 100 3 i -1b50 _ 21 26 2 3 i 29 .10 13 Iso 13 385 to i 1 26 20 10 1b75 7 135 3 1900 21 103 2 so 14 to 13 395 10 i i 18 i 715 23 i 25 i 1 As 20 10 1825 133 14 100 As 1350 .2525 2575 2575 15 is 15 31fl 310 305 i 575 575 530 29 30 30 d a 6 .2075 2060 3060 Copper Amer. Smelting Anaconda. Inspiration. Railroad so class Alc Hlson Ball and Ohio can. Pac. By. Cho.3. And Ohio Chicago . Erie com. go Northern of. Kans. City s. Lehigh Valley mips., kans. And miss. Pac. Com. Miss. Pac. Of. _ Haven n. A Central Pennsylvania Rock Iii land St. A and 3. F. St. Paul it. Southern Pacific Southern by. St. L. . Martin and in York july 5 open High Low close 231 62 234 v c2 1h 13 id i 181 i pm i it 177vj 177 i 17s 178vi 178 87 w 52 a 52 in Rel 89 s so co 61 4 fio 126 120 i 125 t. 53 5 is 55 1 55 104 i 105 104 i 53 53 53 149 140 mail 83 6 63 i 114 1 14 i h3rsi 113kq 32 i 32 h 118 i 1r i25 a i26s 125 Caton at 482 main i ears was occupied by White Canahai Ltd. Allows for Mezza High 16-foot ceiling nine floor if excellent Light and shipping facility store front will be i ant s requirements. Unity to secure windows for goods District is. Tiered to suit ten his is a real oppor attractive display rental is most reasonable. Suitable tenant can arrange Fop satisfactory lease. See our rental Tyla Nager today v oldf1eld. Kirby Gardner i quitting managers real ii s q evaluators mod Bond brokers financial Fife. A casualty h 234 Telephone established ls8l Savji. Neit York cube Osier. Hammouri 61 Vancouver close. 211 to 215. B. A 16s Al 1.18 Al. 142. S Uver Smili 36r. Gladstone 20 to "s1 to 6, dlr Limonni .12 to 35. la i to British Petroleum 3 c i to 6 inter. Coal 7 to n. Const Copper to Porter 13 to Standard Silver 12 july t. 1s14. At d 15. Is. To 1 As Well asps 5 is j to get a bargain in buying in str is necessary to consult Jar More than just Price value i is lie considered. I j Froman economic standpoint Price refers to what anything will Exchange for in terms of Money. Value refers to what something will Exchange for in terms of anything. The Palco of a Bushel of wheat might be is. Its value might be two bushels of Corn and if Corn was Selling at 50 cents a Bushel the Price and value would be the same. Price is value sex i pressed in terms of Money and they arc usually the Fame. However the Man who thinks of value rather fijian Price is usually the Best buyer and to is certainly the Best trader 1927. Associated editors inc sons. 102h 100% Pacific o. And 37 37 37 pub. of -10l. 2 abit Ibl p. And p. _ 94h 94-v. D4m 51 u 57 142 x. 164 58% 94 37 40 a air reduction i Lvi 184h 141 Allied Ohem. Allis Chalmers 10 Arner can co 50 amen. Int. Corp. 50 Amer. Woolens cast Iron pipe-------233 coca cola 114 Cong oleum co. Continental can Corn products Dupont famous buyers Voo Fleischmann s yeast. Gen. Asphalt _ Gen. Electric it. Nor. Ore 141 10ll i 107 57 is t 50 49-% 19m ibo 238 i 236 117% 114 180.1 70 i 70 54 i e4vi 237vj 242 94 i 85 55 i 73 i 142u 108v1 56 ii 49 i 19% 230 117% 18% 18% 70 70 237 a 242 54% 73 115 18% 33 64 int. Harvester 185 ind. Alcohol _ 79 i 79 a t. M. Marine pad _ _ 48 48 h int. Nickel _ go i int. Paper 46 47 3 n. American w s Phil and Reading 39u Pittsburg Coal _. 55 55 Randlo Corn. S4ri Simmons co. 50-, Texas g. Sul. 64 i n47i Westing. Elec. _ is i 79 i elec. Seifrig. 18w Burr. Adding p4 i yellow cab. 3 i 31% 13% 185 484, 4r 3bh 55 54 i 5031 64 75 1.4 a ii 3 is 95 18 h 185 i 7914 40 i 61 i 47 48% 3d 55 51 64 4 79 a Nanton. I bid. 13 29 42 2j1 r 67 Anglo Oil in British american Oil ._1. 23 i Continental Oil-j1 17 electric Bond and share _ 731, inter. Petroleum 2b Imperial Oil _ 421 Ren motors 20 i slut motors _ _ in Prairie Oil and Gas 47f ii to Fountain producers Salt Crek 27v Salt Creek consolidated Standard Oil Indiana Oil Ohio 73 Standard nil. Kansas Standard Oil Kentucky i2 vacuum Oil _ _ 131 h Humble of _ inter. Utilities a Bunker Hill Sullivan _ 90 Mutaf markets Civ York july Copper of Coly electrolytic. and futures. 12.50. Tin. Easy spot Rand Rie Arby. Seo 63.25. Iron stearic and j . Lead spot 6.30. Zinc quiet a asst. Louis spot and ii turns. 6. Is to Antimony spot. 12.00. Quicksilver 120.00. Tuesday s markets at a Clance of Imp Richardson i sons Ltd.1 York stocks generally higher and remained Strong throughout the Day. American can. General electric. Vav Fet Nehouse. Northern Pacific Chi Cago Rock Island and Colorado fuel and Iron sold tip to highs for the year. New York Cotton Solo 13c Loter july. 16.82. Dow a Clark. n pm York july 5, 20 " industrials. 170.94, up 1.65 20 rails. 13kq8, up 1.31. Winnipeg Day at exhibition Friday july 8th .1 leave Winnipeg 8.25 a. Leave p. La Prairie . Arrive Brandon 12.30 noon return same Day via leave Brandon 10.00 . Leave p. La Prairie 11.55 . Arrive Winnipeg . Fare is third return special sleeping cars Brandon to Winnipeg will be parked at Brandon station ready for occupancy 10.00 ., evenings july 7th and 3th, and moved to Winnipeg in train no. 2, leaving Brandon at 4.35a.m. Arriving Winnipeg 8.15 in the morning. For full information tick the ticket agent ;