Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 21, 1927, Winnipeg, Manitoba 14 Manitoba , Winnipeg thursday july 21, 192 Engineer reports Many Fine prospects showing1 up As Patri Cia Gold Field has second sum Mer of work. 1 us mess Trade and Commerce min Sand the Money markets realization of dangers a liven i deflation says Irving Fisher. Foreign Exchange official management of credit aids country to pull through big i business disaster j Swiss franc 19.30 listed Beaver Pirn co. Can. Fire ins. can. Pac Ray it. West Lite co. Home inv. Sav. An nor. Mort. Fully paid nor. Mort. Nor. Trusts co. Royal Bank of Canada Standard trusts Winnipeg elec. Ray co.-. Unlisted Brit. An. Oil co. Ltd. Central Man. Mines. Ltd. North Star Oil co., pad _ North slur of co. Com Western can. Flour Mills mpg. Elec. Ray. Co. War 1931. Victory 1927. 5vi 1533. 5 i 1934, 5 i War loan 1927. It i 1332 5_____ by Irving Fisher the deflation of 1020. The catastrophe of the earthquake in 1923, and the subsequent deflation of the past two years resulted in Tho japanese Finan Cial crisis this Spring. Involving col lapse of the great vertical Trust or Suzuki co., a Bank panic and a moratorium. Drastic revision of Japan s credit system is now proposed with the american Federal Reserve As a Model. But. The great Suzuki Trust has been in part at least dismembered. Here was a business organization composed of sixty or seventy subsidiaries their interests covering steel mines rubber wheat breweries celluloid Wool sugar insurance and banking. Like the German stymies Trust. To represented wide resources both physical and financial. Its Dif j Licul Les began with 1020 and were aggravated by the earthquake taut the attempt of the Bank of Japan to re Surnoc the sold Standard at too High a love of Exchange brought the final crash. Early this year Japan continued her paid movement to the United states and european countries begun in of totter 1926. In order to build up her i balances abroad. The last annual re port of the Bank of Japan notes the difficulties experienced meanwhile by the Banks with their Frozen i and the fart that the appreciation of j 5 the yen by More than 12 per cent to a i 1m4. Juji Point approaching Par was Zacconi j panted by depression in wholesale j prices about 12 per cent lower in december than in january the decrease in 1025 was 0.5 per j disaster resulted j financial disaster has resulted. A i total decline in wholesale prices in i these two years of Over 20 per cent destroyed the Hopes of a profitable Domestic business and Trade in the j depreciated Industrial commodities j suffering from the improved sex j change of the yen. Was further injured by the depression in foreign j markets. The Banks found the secur j pledged on Loans dwindling in value and this secondary deflation Fol lowing a former precipitous fall in prices of some 40 per cent was Moro than the japanese industries could Bear. The Taiwan Bank of Formosa with which the Suzuki Trust was identified appealed for Aid the United states Dollar was quoted at Premium of 11-64 of one per cent. The British Pound was quoted at Normal Price without Bank charges 2-3. The following quotations Are in cents per unit of foreign currency. Par belgian Belea 13.00 brazilian nil Rols 54.62 danish Krone 26.80 finnish Funmark 19.30 French franc 19.30 German Rel Schwark 23.82 greek drachma 19.30 dutch Florin 40.20 Indian Rupee 48.00 italian lira 19.30 norwegian Krone 26.80 Spanish peseta 19.30 swedish Krona 26.80 today 14.00 11.00 26.d3 2.54 3.95 23.96 1.35 40.33 36.42 .3.47 26.01 i 17.26 26.97 19.38 steel of at 134 Spanish Hiver at 102v Manitoba lit at 61. Power at 41 100 at 4.114 at 229i 120 at 100 at Imperial 3? Brazil traction at 130. Cons. At 228 10 at Clark Martin and co new York july 20. Open High Low close Copper Stock Winnipeg. July 20. Par value. Bid. Asked 100 120 100 1e5 400 425 70 70 34 39 282 50 100 Ino 100 100 100 so 100 50 100 25 .1 5 Loo 100 Amer. Smelting Anaconda Cerro de Pasco Granby limit Road Atchison bait and Ohio can. Pac. Chefs. And Ohio Chic. North. It. Nor. Ltd Kan. City Valley mo., Kan. And Texas it. Com. To. Pac. Pad new Haven 157 i 183% 183 114 j 115v4 113 18s i ibs 184w ids 184% 00% 00% 01 a 01 i 84 04 of a 122% 123 i s 6111 57 1065.1 105% 52v 188 m 115-54 185 185 89vs 60% 6 04 v4 04 is 68 68 ?1 120 new York july steady electrolytic spot and futures. 12.75 to tin. Firm spot and nearby 65.00 september. Iron steady and unchanged. Lead firm spot. 6.30. Zinc form. East St. Louis spot and futures. 6.20 to 6.25. Antimony spot 11.8714. A Olllnger it 18.25, 580 at 18.00. Can. Ind. At 32v. So it 520 at 32v2 215 at 920 at 3s-v inter. At 62 90 at 61 i 15 at la rent de at 95h 300 no Iso it 95 i 535 at 96 50 it Mansey at 38vi 300 at 50 at 38ed. Montreal at 83h. National at 10 at no at 70. Ottawa it 107. Price it 54. Quebec at 263 25 at 263vi 2o 264. Shawinigan at 783i 80 at 70 75 it 50 it 79r-i 210 at so 210 at Nova 20 at Sovi 1g5 it 80vi. Steel co. Of at 134 40 at 134 i Spanish at. 102 75 at 102vi 5 at 102h 185 at 102 i 140 it 102vi. Twin it 54 60 at 55. Dominion it vol sniper at Winnipeg electric at 103vi. Imperial at 44vi 25 at 44-Vi. At 10 at 22 i. Brazil it 13dvi 150 at 139. Power at 40vi 225 Niovi. Close 100 at 23 i 200 at 2314. Pfd., 10 it Atlantic at 26. A Billni lit Loo i. . It 18, 40 at 18. Brazilian at 166vi, 25 at 166nh, 225 at Ingvi 6t, at egg i 25 at 166 k. 295 at 166. Brompton at 35 i 15 at Bell at 149. Canadian pad. 10 it 89u. Dominion it 178, 5 at 177 i. Dominion it 177. Kollinger at 18.00. Can. Indus. It 32vi, 10 at 15 at 335 at 25 at 32vi. at b5 i. Massy at 38vi, 120 it 100 at 3b i. 90 it 38-Vi. Montreal at 82 i. National at 69vi. S. Canada at 92. Shawinigan at 79vi 175 at 79 h 95 at 79. Call Money 3 i per cent. Total sales stocks nil 51 66% Novi 15 95 31 59% 7u i 123_ 83 i 47 61 50va 48 38 5b Vivi 51 i gov i new York curb close. Osier Hammond Nanton bid. Asked. Anglo Oil. Is 5 Beacon Oil British american Oil Continental Oil electric Bond and International Petroleum Imperial Oil Rte motors Gutta motors Prairie Oil and Gas Mountain Salt Creek consolidated Salt Creek producers Standard Oil Indiana Standard Oil of Ohio. Standard Oil of Kansas Standard Oil of Kentucky vacuum Oil _ _ Humble Oil International utilities a 18 5 Bivi 24 w 17 i 74 h 29 44 i 21 14 43 h 28 a 89 7514 17 118 132 59% 5j4 20 v4 2 i 15 43-u 24 v4 28 i 69% 7b 17v4 120 132 u. 00 6w Vancouver stocks. Rosier. Hammond Nanton Premier. 210 to 212. B. C. Silver. 180 to 190. Dunwell. 132 to 134. Silversmith. 30 to 34. Gladstone 14 to 15. Lead Smith g to 7 i. Richmond 29 to 34. Jim. 18vi to Pete 10 to 11. Silver Crest 6 to into. Coal 2114 to s3. Coast Copper 12.go to 12.90. Porter Idaho. 20v.a Standard Silver. 12 i to 16. Toronto mines. James Richardson sons limited open. Noon. Wolosc. Survey of newest Gold Field shows Many Fine prospects and big work programmes. Frank Tona Conda Amulet Argo area. Atias Beaver Kaganac Baldwin is 41 i 3 v4 109 25 i inserted by Lions club Winnipeg luncheon every thursday 12.30, fort Garry. Stocks and Bonds investment securities bought and sold on All principal exchanges for Cash or on conservative margin. Private wire Toronto new York. Or limited Winnipeg. Buckingham. Barry Holly a Vii Castle 78 is can. Lorraine 13 Central Manitoba 163b Corona 30 con Iagas 330 Crotti he serve 11 Capitol 20 Duprat 7vi dome 760 Don Rouyn 26 Gold Dale 29 Gold reef l Gold Hill i _ 25vs 20 Grover Daley. 10 Holly 18.15 7 Kirk Lake 136 Kirk. Hunton 14vi 100 Kenora 3-Li Lakeshore Laval Macnessa Mclntyre Mckinley Moneta mining corp Nipissing new Ray 1 296 32 48 3v4 104 25 31w 78 13 163 10 380 Loli 20 b 75d 26 29 i 1 2 5 i -.20 17 i 310 31v4 49 i 104 25 3vi 31v3 78 12 164 10 i 390 10 21 747" 26 29 1 25 i 20 special despatch to the free Tress Hudson july 20. One of the most prominent mining engineers who has kept in close touch with developments in the District of Patricia Ever since the Howdy discovery at bed Lake in 1925, arrived in Hudson today after a two weeks inspection trip of a the Camps in the District and. Lias Given a most optimistic report of the re sults of development work covering the entire District to the North. On the Foley Kelly group of claims in Pipestone at red Lake which he Contin gurus on the West to the Scott group samples from the strike Are panning Gold heavily and of late free Gold has also been found. Smith Field Engineer for the pah interests who Are Well known in Nevada and in Gowganda. Ontario is on his Way out to steel with samples from the Foley Kelly find and some important developments Are expected in the near future. The. Cole claims on the Cole claims immediately West of Scott a zone of mans Ralleca door let has been trenched at intervals Over a length of 325 feet. This closely resembles the Ore occurrence on the Scott group hut does not contain the same percentage of quart. Nothing is known of values hut it shows Simi Larity to the Scott find. Work is proceeding on the Graham group under the Able supervision of Geo. Scott and Mineral ised veins and zones have already been discovered which pan Gold. On. The Gallagher Campbell group located on bed Lake an lust usion body of porphyry has been found to Cut the Granite and this contains heavy Mineral Zed Quartz veins. Recent blasting last week Dis closed considerable free Gold. Keti Priis old discovery at the Tyrrell bed mines Ltd., messes. Coleman and will Ned of Hamilton Ontario just returned from a visit of inspection of this company s property at bed Lake. This company it will be remembered did much work on the Maiden Gold discovery in bed Lake on which a Shaft was sunk by an English Syndicate some 30 years ago. The vein has an average Width of from ten to 15 feet and Lias already been exposed by a series of trenches Lor a length of 900 feet. Contrary to popular belief the vein Wall Rock. Is a door let in every Way similar to the Scott discovery of pipes Toile Bay. Leonard property on the Leonard narrow Lake mines property North of the Barthurst considerable surface trenching has been performed and several veins have Heen located the two most important fire the Isaacs vein near the South of the property from which High assays were obtained last fall the vein has an average Width of feet and a deter mined length of 400 feet. The vein differs from other veins in. The narrow woman Lake area in that it is heavily Mineral eco with Arsenical pyrite. Thea Mineral frequently occurs in Bunches from eix to ten inches in diameter As Well As being disseminated throughout the quarts gang. The other vein of outstanding in i Ortance is a Contact vein lying along the Contact Between Quartz porphyry Chlor tic schist. This has an average Width of six feet and the Wall Rock is Mineral Zed Abou feet total Width nine feet. The opening up of this vein by blast trenching has been delayed because of the fact it occurs on ground which is i Nolc a Dis Pute Between Tho Tamada mines and the Leonard narrow Lake mines. The dispute is now i the hands of 1he mining commissioner. Sampling is in Progress under Engineer Graves on the inc Gold show ing South of Bathurst on the narrow Lake Gold mining Ltd., property. The occurrence has now been stripped for and has narrowed considerably but the West end where it declines into Low ground 29 feet the average Width. Is 20 feet. Test tits on Bathurst on the Bathurst test pits along Tho strike of the ho.3 vein Are progressing but the wet weather of late is greatly hampered this work. All but one of the test pits continue to show High Grade Ore with much free Gold in. Evi Dence. On Tho Price Logan group which is under the Sazzie management is the Bathurst mines Ltd., with b. Dudgeon in charge the construction of Camps on the East Side of Caribou Lake is completed and trenching operations Are already in Progress. Oil claims under option to t. W. Bathurst. Inc., a very promising Sulphide zone 12 feet wide was Descove de last week assaying from nine to twelve dollars across the Width. Or. Bathurst is quite elated with the discovery and considers it one of the important finds made. These claims tie onto the North at Corner of the Leonard Nar Row Lake South group. On the Laidley group located at the Narrows into East Clearwater Lake and under option to the con Iagas com Pany work is being carried on under the supervision of Engineer Hutchison of the con Iagas. The occurrence is rather puzzling and might be described in no technical language As a whirl Pool of vein quarts porphyry and Kee Satiri schist the whole Mineral Zed. Prom the South Side of this a Quartz vein striking generally South and about nine feet in. Width issues. 18.00 18.11 8vi 9 136 137 14vi 14 100 100 371 3 i 20.00 20.00 20 10 21v1 21 21v1 13 i 19 i 18 to 25.50 25.50 25.60 night Hawk Noranda Porcupine Crown _ Pioneer Potter Doal. _ Premier Preston _ Rouyn Sta Acona Telic Hughes Thompson Krist Tough onks _. Towa Mac _ Tennis framing 14 325 580 36 5tt 22.50 4 75 12 205 17v. 835 i 27 1 305 5 14vi 10 i 305 565 33 5 22.35 5 75 12 203 28 375 5 15 a 10 i 310 565 35 5 22.40 4 73 12% 205 i 17 830 27 i 355 5 78 i . 2 West tree 3 Wright Hargraves 600 West dome Lake 5va Wakenda 1% 78 2 2% 603. 5 is 78 2 3 605 5m, Toronto close. James Richardson and sons Ltd july 20. British american Imperial to 44vi. International Beacon is to 17. Massey to 33li. Massey Harris to Canada to 115. Canada. Bread to 116. Canada. Bread City at 125. Cons. To 180. International to 11. Kelvin Tor to p. N. To 60vi. Maple International to 40. Canada to 28. To 14. Goode Baru and Cockshutt to papers feature quiet Trade on Canadian Board Abi Tibi crosses 100, with Spanish River up and brazilian weaker Montreal july wag to be expected following the robust Advance in values on tuesday trading slowed up somewhat in wednesday s Market Here with an irregular Price trend prevailing. The undertone continued firm however and the Market continues to have every appearance 01 being in found shape. There is Natur ally still some nervousness on the part of traders created by the reaction in values of a. Lew weeks ago and a Dis position to await further proof that the major Forward movement has been resumed. The list broadened out and at the close gains exceeded losses by 12 to 11. Brazilian continued to Lead in activity although the turnover in this Issue was considerable less than in the previous two sessions. As was to be expected following the recent Sharp Rise that has taken place in this is sue there was a considerable amount of profit taking and the Stock closed at 165% for a net loss of 2% Points. Some Selling May also have been occasioned by the fact that the annual meeting of the company is being held in. Toronto tomorrow. It is hardly Likely that anything special will come up at the gathering. The paper stocks were again Strong with Abi Tibi a feature in this Section that Issue Selling up to the new High of 101 a and closing at 100u for a net gain of it is claimed for Abi Tibi that is the cheapest producer in the newsprint Industry and this would seem reason enough for it turn ing As Leader in any Advance in this Section of the list. Laurent de was the next most Active in this Section of the list and held firm at the previous Day s close. Spanish River improved nearly a Point while on the curb St. Maurice Valley corporation added an. Other Point to its previous Day s and Vance it is a fact that the expansion in consumption while not keeping up with the growth in capacity has done better in this direction than was anticipated some seven or eight months ago. Dominion Bridge turned up As the weak feature of the Day s Market. Closing at 177 for a net decline of Points with trading in Only 550 shares. Disappointment in some quarters that the directors had not seen fit to de Clare a two per cent quarterly divid end on tuesday was the Only apparent cause for the Selling which came into the Market. A two per cent Bonus at the end of the year would seem More or less assured in View of previous declarations and this will mean eight per cent paid out during the year. Shawinigan. Sold up to hut later reacted to close at 78% for a net loss of recent heaviness in this Stock hos been accompanied by some talk that investors had been Selling their holders taut this would seem to be refuted by a statement issued yesterday which shows that Between the end of 1926 and the present there has been an increase in registered share holders of Over a thousand. It is interesting to note that in 1919 the number of shareholders of this com Pany was 504 in 1921. In april of this year the total was and during the past three months there has been a further increase of Over 400. Bring ing the total for july. 1927, up the Asbestos issues failed to take part in the improvement in values this week but both held firm with the common at 23vi and the preferred at 37 i f. A falling off in the Rhode Siau output of Asbestos is shown in the latent figures from South Africa. At work general motors forbid Advant Breaks Olf Peai National Tea scores 11-Poj but Houston Oil is Heair losing eight associated new Stork july 20.-Rmucl the Call Money rate from four to per cent., the lowest rate i months started a fresh bullish enthusiasm in Stock Market with Tho Many experts on investments advocate. Buying into an Industry in Stead of buy Iii the securities of one company in that held. If you believe the automobile Busi Ness is going to Prosper in the next few years what would be the safest Way to invest in it the easiest Way would be to choose securities in some of the Best Auto Mobile companies. However there is j a More conservative Way called buy j ing into the Industry. I for instance there Are railroads which depend upon automobile ship i rents for the major part of their i traffic. Certain manufacturing companies rely mainly on the automobile business. Other companies Deal in materials which find then Way into the automobile. J of course the Auto Mobile is Tho i principal part of the Industry yet by j distributing Money Over the rest of i the Industry you Are not dependent upon the automobile business alone because these companies have other business. Too. At the same time if the automobile business does Prosper these companies probably wiil Prosper too. Copyright 1927. Associated editors inc Dow Jones averages Clark. Martin. Of new York july 20. Wednesday s averages were 20 industrials 177.80. Up .78. 20 rails 138.91, up .15. Calgary Oil stocks More than a score issues to 11 the year me violence of thit to Vance in some hues however heavy profit taking m other giving the general list a Rath Cri regular appearance at the close the quarterly report of to Public steel and Iron company de a substantial reduction lici0. Corresponding Quarter last general motors was the feature jumping More thro fir. Is to a new High record of 213k present Stock. Chrysler Point to 48. But several of the motors were inclined to Hupp improved fractionally. Gabs snubbed i Rose three Points to a in Peak at 55. National Tea. Soared 11 new High at Houston Oil Bayuk cigars were among the s limes which showed acute the former breaking nearly eight Djin to and the latter i extreme decline of seven Points s 9k there were a number of other to three Point declines but in nearly s cases the turnover in Liose stocks in Small. In the rail shores ate Leon touch another new Peak and a by lev was apparent for Western Man in common and Baltimore and Ohio m total Rales shares m Ohler. In Immo Ifil . Cons., 38. Dalhousie Illinois Alberta 25. Mcleod. 1.50, Royality. 31.50. It Nan Lon Canadian press re Spalli Ottawa july Trade for june dropped slightly in. Comparison with june of last year but for the free months of the fiscal year end no june there is an increase of nearly Over the 1926 figures. The grand total of Canadian Trade june 1927 was while june last year it was the following analysis of Trade for april May and june is Given by the department of National Revenue three months ending 1926 1927 sports exports total. Foreign exports grand total uneven Paris trend associated Tress liable parts july 20. Prices were irregular Oil the bourse today. Three cent rentes 56 francs Sycha nge on London 124 francs 2 centimes. Five per cent loan 76 ranch 913 centimes. The United states Dollar was quoted at 25 francs 54% centimes. Wednesday s markets at a glance James Bien Ardson sons. Limited new York this morning gave Way to the reappearance of strength in the afternoon the mar Ket being led by the Standard issues As usual. New York to 23 lower july 18.09. Clan Syndicate plans stripping programme to finance mining development by unit offering plans Are being made for an Exten Sion of activity on the clan group of Gold claims which ties on to the . Group in the slate Lake District of the Central Manitoba mining Field. Work was done on the clans ill last Winter by a Small Crew of men under the direction of Scotty Mathieson and several promising were discovered. One vein with an average Width of 17 feet was traced a distance of 500 feet and grab Lampios assayed very Well values in places being spectacular. Or. Mathieson has already shipped supplies into the Field and will follow himself in a few Days it is expected when a programme of stripping and surface work will be undertaken. The property is owned by the slate Lake clan Syndicate which has sub Stantial backing in the City including John a. Machray k.c., j. W. Briggs Peter Lowe Charles p. Pentland and Colin a. Mcdonald. Public offering of 25 units at 3100 each is now being made to finance work planned Bank Stock sales Canadian press despatch Montreal july Stock sales today were 23 Dominion 3 Imperial 227 5 Montreal 304 24 Stan Dard 2 Toronto. 248. Specialists in Ontario Quebec and British Columbia mines information end advice gladly furnished upon request. Mellow As a May and a. Right Good spirit to possess. V f t stocks dokd3 oka1n head bum Dav and well1nqton Stu Tatj Toronto private w1hc Sybeth. Al round trip it rises on Lakeon Lipec s. S. Keen Ora i Ira Liis Selkirk every Mondoni a. . Tor Warren s fund los. Connect Ino with River Host for Norway House and co link it Gull head. Boron s River. Orm end Offler intermediate tur Lnu to Selkirk in sunday morning. A s a Jas Augurt Oill l september a a woj adapted for medicinal use of Fine Quality and Well matured matured in charred Oak casks re Rena Megan tic july 30 alts. G aug. In aug. 20 sep. 7 up. 27 so. 3 sep. 10 sep. 17 oct. Oct. 5 nov. Sep. Oct. Oct. Cal garlic Mont real in Choc Elfast Retina g sop. 3 oct. Doric aug. 20 sep. 17 oct. 3 Jetton local Quebec g i scour Calgari sep. 7 oct. 5 nov. New York Qucen Slown Ltd Tepool 30 aug. 27 sep. 2 Adriatic aug. 6 sep. 3 oct. 13 sep. 10 oct. Bit a aug. 20 sep. 17 oct. J Boston. New olympic Daijit. 1 Auk. 2c sep. J in Josue aug. 3 sep. 3 sep. 2 horus Rio aur. Lio sep. 10 oct. Atlantic trans a oin Urvis York Cherbourg Londott Minnewaska july 30 aur. St a. I Minn Sou aur. R sop. 3 oct. Minn Lonka 13 sep. 10 oct. Minjack Acda aug. 2o 17 oct. 3 red Star Lixe new York i bal Runland .-------1 aug. 1 aug. 27 sep. 2 aur. 6 erd. Id oct. Auk. 20 sep. 7 oct. 1 sep. 3 oct. 1 oct. 2 Panama Pacific one new York Havana Ca fornia Manchuria Auk. 4 sep. 2 Mongo a Aue. 18 oct. 21 sep. Penn an d la i a n Dara Lilc ask about our tourist third Cabin and conducted s. S. Wolverine a null further Kolce ins with River for noway House week end tkh1 s p. Wolverine wares i try Friday at 1 . For big Geo Buffi s Bias Day morning. Tor descriptive folder and bes creations apply silk Lek Man. Wynn lace. Man. 6 Call Bonc or write. 2 ii ave. Or local steamship agents stocks. Bonds and Grain direct or Vata Wiro to principal markets. 232 Portage Avenue Winnipeg phones 22 882 ;