Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 7, 1929, Winnipeg, Manitoba 14 Manitoba free press Winnipeg wednesday August announcement of the result of government test of Devenish Well is expected to be made this week. News of the business Trade and Commerce Ontario steel products com Pany shows substantial increase in profits year ending june 30. Montreal Power in spectacular Price Advance jumps 19 Points to new High utilities dominate Winnipeg electric gains Cana car press Montreal. Quo. Aug. Mon Treal Power providing the spectacular Public utilities group dominated foreign Exchange the United states Dollar was quoted a Premium of Loei of on per cent. The British Pound was quoted Normal Price without Bank charges 2-3. The following quotations Are in cents per unit of foreign currency. Par today s 1937. 5 i War loan 1932, refunding 1913, 19-m, 4 1940, 4 i 1946, quotations on Victory denominations. 104.50 100.00 retires 100.30 ____94.90 ___94.50 94.00 Bonds Are 100.60 i j value belgian Belga 13.90 brazilian ill res. 54.62 danish Krone 23.80 finnish Funmark 19.30 French franc 19.30 German reichsmark greek drachma dutch Indian Rupee italian lira norwegian Krone Spanish peseta swedish Krona Swiss franc 23.82 10.30 40.20 48.00 26.80 19.30 26.80 19.30 Price 34.00 11.or 26.83 2.54 3.93 21.01 1.31 40.31 36.26 5.26 26. B3 14.72 26.98 10.39 trading on the Montreal Stock sex today. A sudden demand for Montreal Power late in the morning found offerings Small and the Price jumped 19 Points Early in the noon reaching 130, a new High for Alii time. The close 136. Floating Supply any sudden Cle profit taking which made its a Mancl a night easily result in an in Yearance during the last hour of Trad crease in value without an Especial jus. Background. was pointed out in financial circles. Earnings of the shares Shawn Iran. With 21.437 changing hands advanced Points to 98 and Quebec Power was up 93. Power corporation advanced i to 120. Outside of the utilities the list was irregular a the close with no particular group movements. Massy Harris paused in its steady upward climb of the last few Days to ease a Point to b5i_. Canadian car and foundry was off 2 Points to 51 3 and National steel car was unchanged. Brazilian again the Active Leader closed unchanged fat after a display of strength earlier in the Day. International Nick i was Down Abi Elbl and Canada Power and taper what attention Given to newsprint group and with both the former advancing to and the latter to 35. Twenty six stocks gained Grovind Volle 20 scored losses. Montreal tramways was the great est loser dropping 5 Points to 180. Other stocks to lose included . Packers. Gypsum. Praser Charles our. Price Brothers Sherwin Williams and Way Adamack included in the list of advancing stocks were Bruck silk Dominion Bridge. International Power. Lake of the Woods. National breweries and company Are reported to be Well above Marks established in other years. The Day s total trading amounted to 118.392 shares. Sales of Bonds totalled Winnipeg stocks listed Par Beaver fire co.________5100 can. Fire ins. Co. 50 can. . Ry.__________100 Corr. Paper Box co. Pi__100 Crescent Creamery co. 100 o. W. Life Ossice. Co. 100 Home inv. Sav. 100 nor. Can. Mage. _ nor. Mage. Part paid Northern Trust co._____50 polls sleds Ltd. Standard trusts co. 50 w. Steel prod. Ltd. Pr__300 steel prod. Ltd. Unlisted Assoc. O. G. Beaver lbs. Co. Pf.____100 Beaver by. Co. Com. 100 Blue ribbon 50 b. A. Oil ___________1_____ 25 can. National Plre-------50 Canadian indemnity 100 City Dairy 7 . A. 100 City Dairy b . Of. 100 Corr. Paper Bor aug. I. Btl 127 103 228 92 08 725 80 20 50 30 97 42 4.00 1c5 235 to. 120 ask 130 steel of Canada preferred. Winnipeg electric joined in the for Ward movement among the by advancing 3 to j Oil of. A split in the Stock inclusion of the i North Star Oil com. _ company in a super Power Grain co. Com Bine and talk of a definite Ulfo with the Beauharnois interests were 33 48 35 of. .43 240 49 90 100 20 a thong the rumours current in connection with the jump in Montreal Power. Official sources however tailed to give a hint of anything special to explain the. Sudden move. The tight holding of the Stock for in vestment especially by holding companies has left Little of the Issue As traders Assn. ____100 United Grain growers__25 5 17 i 32 73 110 j1.uoo_____ sales Canadian 105. Crescent 00. Great West 800. Western steel Manitoba 33. United Groin Winnipeg Etc. 105, 3 105. 100.30. 00.50. Mining Section listed Section bid. 725 c. E. Corp unlisted Section Arno big Missouri Gianani metals Central Manitoba Luxon mines dome Howey Hudson Bay my. Nickel Mil Nyrtle i Mandy Manitoba in san mining s new inc fend Oreille san Antonio shr Rritt Gordon Sudbury Basin tick Hughes ventures___________________830 Wright Hargreaves ibs Turner Basin Oil 150 43 155 130 45 11070 117 -1780 .5000 20 72 i 435 _ 45 .6200 635 is 795 890 sales 800 14, 1000 13, 200 san Antonio 14. 1000 13. Blair 15b. 117. 400 116. Sher Rotl 7bo. Ted 835. 47. Home 2375. Hoffa Mitnit Montreal stocks Solomon Gold formerly president of the Gold Grain company which has disposed of its holdings to the Mclaughlin elevator company. Or. Gold will devote the few years to extensive travel abroad and will make a study of foreign meth ods in handling Grain. Mcdougall Cowans High Low 49% Asbestos com 11 Asbestos 31 Alta. Grain 46 brazilian sell telephone____180 . Power a __.__45 British Amer. Of 51 44 building prod. 34 Canada brewing is 54 Canada Bronze------73 Canada car com-----124 1bo 44 06 130 close spa 67 5 180 Canada car p a. 150 34 Western breweries in blew. Co. .pf.______100 Bonds War 1931. 5 . 1937. 5 . Victory 1533. . Ifl34. 314 . 23 la b 104 i 09.40 101.00 100.30 100.40 a record in Winnipeg real estate sales sales of real estate in the Central Busi a Ness District of Winnipeg have been greater in number and larger in amount during the past year than in any other similar period in Winnipeg s history. The majority of these sales were made to corporations purchasing properties for their own use and occupation. This condition should suggest the Opportunity to Purchase As an Ideal investment property adjacent to the business District. Oldfield. Kirby Gardner managers real fors value toys Moffre Fage Bond fibbers financial Fite tags ave. Telephone 01-371 established l83l can. Cement com. Can. Cement can. Per. A paper. Can. Indus. Alcohol can. Steamships can. Steam Ltd j cock Shutt plow i Dominion Bridge Dominion Glass 1 Demin Lon textile i famous players Fraser Hamilton Bridge. J int. Nickel int. i Imp. Of Lake of the Woods Massey Harris Corn Mccoll front. Mont. Power Nat. Breweries 140 hat. Steel car 79 Noranda Ogle Vic 620 Peter Lyall Price Bros. Port Alfred 26vi 91 34 35v1 91 34 100 i 111 210 210 94 94 65 65 53 53 55 5 i 52 29% 59 _57 4 i 120 23 is 100 60 my i 89 14 60 57 139 80 620 Lio 34 23 i 01 34 Ioa 210 04 6-1 52 vib 53 50 Jim 59 56 41 79 i 620 100 Power corp _ que a Power Sou can. Power Shawinigan _ _ smelters 385 steel of can. 621i steel of can. Pad. 54. Avay Teamack s4 Winnipeg blew. Com. 78 121 i 117 94 a 89 Obi 64vi 3-1 111 210 94 64 i 52 i 53 v4 51 i 60 56 41 133 if 620 106 120 94 55 a by _. 34 80 84 75 125 Hoti 50 120, 125 23 120. Quebec 83. 73 35 90, 50 90v1, 50 91, 125 Iso 01. 500 92, 25 91aa, 25 of Sll i. 375 94, 125 Al Lvi. To 84v-j, 175 95. 25 947i. 1.250 95. 50 a 425 53vi. 50 130 95vi, 165 85vi. 200 96vi, 100 320 450 90vi. 525 250 75 97, 425 97, 725 97. 25 225 9g i. Steel of 64, 50 b 164vi, 100 62, 25 61, 25 no 61v4, 25 0 Winnipeg sales Lor the last hour 51 i 140 51, 125 j can. 34, 75 34v-j. 325 35. 350 brazilian 66vn. 55 67. 480 490 67, 200 66vb. 90 87, 50 67, 75 66vn. 175 67, 313 850 100 07vi, 350 1140 .i. 80 200 g7 i. 75 a j25 100 450 75 67va, 825 825 225 25 67v4, 50 67ai, 175 75 6774. Can 132. Dom. 250 111. Dom. 210. 52hi. 25 52va. Hamilton 53v4. Ind. j2v- int. 51vi. 25 51 ii. ?5 51j. 723 of i 130 51vi. 75 200 517-h. 1825 52. 275 250 125 100 5h 2, Montreal 133vj. 425 133 a 100 .134, 625 135. 150 135vi. 275 138, 25 137, 80 138. 175 138vb. 440 133. 150 275 136. 25 137. 80 1331i, 440 139. 325 138, 80 i38v4. 40 137. 400 136. 25 135. 75 135. 25 680 134, 250 Al 136. Price 106. Power 350 120. 60 12014. 575 121, 125 121 i. 50 121. 25 140 131, 50 121h.70 Al 121vb. 25 121vb. 225 121. 50 121vi, 100 120. Que. 91 i 125 135 s3, 200 92. 225 93. 125 04. 25 94v1, 25 94. 30 94vi. 25 94-1i. 25 400 94vs. 400 94vi. 50 94. 25 94 vib. 75 84. 35 93 i 200 03 i 75 94. 125 ?.t 07. 325 97h. 173 971s. 225 97ii. 225 98, 25 svs 70 98u. 25 25 23 i 98-i i. 50 3d. 200 325. 99, 75 s d9 i. 150 Sou. 25 0914. 40 99 i. 50 99. 525 Tsvi. 175 50 99vi. 75 135 99 i. 50 91. 25 99 i. 525 100 933i, 125 93h. 200 89vi. 75 25 90v-1. 25 25 Al a i 50 99 i. Steel of 61. Winnipeg 80, 75 25 30. Montreal curb Bear drive . Halted by Call rate drop mines and the Money markets Early losses recovered when Money drops w 10 per cent. Copper group Strong special United Naivs despatch to fryc press by free private wire by Elmer. C. United 1 Ress financial editor. New York aug. Ease in Call Money and a burst of strength in the Copper shares restored wavering the latter closing of Points after bullish change Confidence on the Stock sex today and after a period of depression due to various factors the the list. Corresponding gains were registered smelting Ken Sccott and Greene cananea. the Advance was bolstered by the action of the coppers and recoveries from their earlier lows took place in High Grade industrials like United states steel. American can and Bethlehem. Steel with a net gain having sold off More than a Point be Low the previous closing level. A decline of 6 to cents a Bushel in wheat Chicago adversely affected stocks of the companies whose earn Ings hinge largely on the purchasing of the Farmer and led by. J. I. Case co., which closed with a net loss or 12 Points lower Levels were reached by stocks like Sears Roebuck in Terna tonal Harvester and the agricultural group. The electric manufacturing Sharea were under considerable pressure Al though general electric recovered 2 Points from the Day s Low to close with a net loss of Points. Westing House was subject to heavy profit Tak ing its i Iceni sensational up swing. Highly mixed Price movements of cured in the rails. Atchison and new Haven were conspicuous Strong spots main body of. Stocks recouped most of both touching new record High Levels their earlier losses. Trading volume about approximated that of the previous session with a turnover of shares yesterday pared with shares yesterday. Call Money renewed 12 per cent., but funds were plentiful and demand was Light with the result that the rate dropped to 10 about noon later easing while Chesapeake and Ohio Union Pacific Lackawanna and new York Central sold off sharply. Erie scored a new High Early but reacted to close with a fractional loss. Again the motors moved within a narrow Range maintaining a generally steady tone while the oils did Little. A few specialities were Given a. Whirl. These included Hershey american ice both of chocolate and Holch touched off to 8. The closing level. Time Money was firm. A furious Bear onslaught against j highs. The insult utilities on the Chicago convertible issues on the Bona mar Stock Exchange precipitated similar Ket mirrored the actions iela Ralls against High priced utilities on to Lac stocks sagging Early to recover the local Exchange with the result later in the session. United states Goj Thot declines ranging from 2 Points to 27 Points place in f ing. M9rreal Market notes Eric Cal to tin free press Montreal aug. Hit tardily perhaps when compared with the Market in Wall Sweet but car trenly in a quite Al Yourous Laski Iii the Mont real Market Lias launch so into a Utility Market of its own with Montreal Power playing a leading role. Tala class of Security listed on this Exchange in the main appears to face a future comparable to that ahead of the majority of utilities on the american continent yet Hus lag ged behind such securities largely on account of. General Market conditions. Steady accumulation or such issues As Montreal Power. Shawinigan and Braz Ilian in recent times has succeeded in bringing about a a ready improved technical position to far As those Stolcs Are concerned with the result that such a buying movement As got under Way a few Days ago in brazilian and to Cony in Power and Shai Vingan forces prices sharply Forward. Montreal Tower Montreal Power was the overshadow in feature of tucs Dap s Market pro Viding a spectacular display such As has not been seen Here in a Long time and one Seldom Sivan by so staid an As thic. Coming ing the move in Power. ranked third in volume Here with 437 shares a cult in. Sold up to Trie new hie11 of 9d i incl closed 03 for a. Net gain of Points. Quebec Power sold up to and closed 03, up aside from merger which remains the vaguest sort Street continues to Henr much of inc great growth in importance of Sha a Quigan s subsidiaries operating outside the Power Field. Other Utility shares to in the Forward movement were Winnipeg electric up 3 Points. Southern can Ada Power 2 Points Asili to Var corporation up Points. Tic last named can assumed to he Beneson quite substantially by uie current Rise in Canadian utilities. Brazilian brazilian retained the Ruot Ivr shop of the Market Here with 28.615 shares dealt in. And closed Unchin Tecl 675j there was no indication or r let up in the heavy scale buying that has been going on in this Issue for the past week and which tins borne the earmarks of Beloit More ulan just Public demand. Selling far out of line with utilities enjoying similar Poi-1 Lon and earning ability the Stock has feed in recent months from wide spread rumours regarding economic conditions in the Republic of Brazil. In the meantime the monthly earnings of the company have shown continued expansion. Investment Stock be conc in volume to brazilian with trading in shares dealt in. The j Superior corp. According to an announcement to the new High for All time of 13q Ana closed 136. Representing a net and Vance on the Day of 16 Points. Be cause the Stock has from time to time in recent months been the object of suggesting development was that some imminent. Special was such issues Detroit Edison. Brook i on the curb Market utilities were under heavy pressure taut a few Spe and Telegraph consolidated Cal issues were buoyant. General Public service and Standard foreign Exchange was Lyn Union. Gas. American Telephone j quiet a elopement. Cotton advanced moderately on More bullish expectations of the outcome of the government crop and condition and Gas. National Power and Light was a Little changed wit la a Sharp upturn in noteworthy exception to the trend j japanese yen the most prominent de Sci Long a new High and closing with a Nee gain of Points while International Telephone recovered most of an Early slump. The depression in the utilities augmented such factors As Early Tincer regarding the immediate credit Outlook and fears of a Rise in the re discount rate of the Bank of England in dampening bullish enthusiasm and Pivotal shares in All sections of the use were subject to pressure which was listed As the heavy buying operations went ahead in the coppers. Anaconda led the upturn in the lat Ter group scoring an. Advance of Over 3 Points to new High ground on the movement on the heaviest turnover in that today s Swift Advance should once give Rise to wide spread i Sorlee of special developments using imminent in the affairs of the com Pany. A split in the inclusion of the company in a Large Stock super Power Combine and talk of a definite agree ment with the Beauharnois interests were among the stories heard in an attempt to explain the move. Offi Cial sources failed to give a hint of any thing special to explain the Sud Den move. The earnings of Power have shown in recent times a Partlou report to be issued on thursday while Broad Funy in keep the reaction in grains was caused by i Tlle rapid growth of the City heavy commission House Selling after j an Early bulge. L a. Foreign Exchange associated press despatch new York aug. 6. Sterling Exchange easy 4.73 7-8 for sixty Day Bills and 4.34 5-8 for demand. Foreign bar Silver. 52 5-8. Canadian dollars disc. Francs ii. Lire. E.226 8. The Stock is Well yield. In an invest ment sense which leaves a limited floating Supply and under the prevailing Market conditions in which Large scale buying of utilities by Holcli ing companies Hae played a very important part such a move As today s might easily result. Utility issues strop in the Al Rcd stocks. Shaw Lanigan and Quebec Power were not slow in reflect. Has been signed whereby the company will be released from All liability in connection with its guarantee of the Rall Vav and terminals company Bonds although to Fie Bondholder of 40 per cent of the share capful of Algoma. Steel corporation sort 40 per cent of the common Stock of Eastern railway owned by Lake Superior. Before this Transfer however the whole of the preference and common Stock of Algoma steel corporation win be converted into no Par value common shares. The mining 60 per cent will be retained by Lake Superior corporation. The authorized capital Stock ;