Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 02, 1938, Winnipeg, Manitoba Page fourteen Winnipeg free press monday May 2, 1938 Canadian Stock markets made gains during three weeks of april trading volume of transactions during month swelled with firm Market and contracted As prices declined Toronto april 30. Did very Well for Canadian Stock markets giving them three weeks of advances against one week of declines the period brought Index dips of 3.09 to 4.26 across the Board leaving the net Index gains for the month at 13.90 for the industrials. 10.25 for the golds. 7.81 for the metals and 3.38 for the Western oils. Volume throughout the month continued on the Small Side bul daily figures threw some Light on trading sentiment by swelling on Days of Price strength and contract ing with Price declines. Watch Washington Canadian markets continued to keep a closer watch on Washington and Wall Street than on the political developments in Europe. Market mines saturday s Canadian . Stocks Bonds new York stocks slept through today s Brief Market session and while the trend was a Shade lower for most leaders a wide assortment of issues was unchanged at the close. It was one of the half dozen slowest sessions of the past 20 years with transfers for the two hours around shares. Aside from a fractional Rise in distillers corp., Canadian issues were Dull. Production at god s Lake Gold mines was phenomenally High Dur ing the first Twenty Days of the present month. Gold recovered during the periods was two ten Day ounces which commentators appear to agree that clean up of the classifier is Large the Washington plan for giving Busi Ness another lift will work towards at per ounce would be there still remains production for the last ten Days during which two bricks will be poured. By responsible for the Large Gold recovery. God s Lake Gold is in inflation. But so far. Common Stork j the fortunate position of owning and commodity prices appear to be j its own Power Plant at Kanu Chuan Falls and has therefore Only to in no hurry to anticipate economic order. Pay the actual costs of Power de the Gold shares continue to attract j eloped and used. The Power attention to traders on Canadian i Plant was constructed by the Corn markets with industrials and West Ern oils following and base metals Pany and is wholly owned by the company although there would be trailing. Copper Price lags. Persistent weakness of the metals j especially of Copper which is again Selling below the 10-cent Mark has been the depressing Factor in the base Metal share Market. Several potential Copper producers held their annual meetings this week and while some directors spoke Hope fully they were careful not to make any definite predictions of higher prices. Passing of dividend dates brought downward adjustments in several industrials but. Aside from this Factor prices were trimmed fairly generally in steel Utility paper food and beverage groups. Western oils had a quiet week though some of the Junior issues put on a trading spurt. I additional Power i other users. Available for shareholders refuse an Roval Richland report Calgary april 30. Special shareholders of Richland oils limited at their annual meeting Here Friday re elected four of the five directors who took office when w. Fay Becker organizer of the com Pany resigned in november last. A poll vote was taken on the matter of adopting the financial statement and results will not be known until saturday. A standing vote was passed in favor of refusing to approve the statement until litigation against or. Becker and Central oils limited with regard to rights of the company is concluded. Directors re elected Are f. L. Irving. Frank r. Freeze. W. S. Henderson and f. R. Webster. R. F. Neidig succeeds Thomas Humphries who acted As Secretary of the meet ing who had vacated his director ship. Or. Iriving. Who occupied the chair read the president s report which had been sent in letter form to shareholders. The letter is the subject of an action for which or. Becker started this week against members of the old Board. The statement of claim argues that the letter caused damage to or. Becker s credit and reputation. In speaking regarding the financial statement w. H. Mclaws. K.c., solicitor for the directors pointed out that if the litigation against or. Becker succeeds it will make a great change in the a reason for opposing its adoption. Weekly Bank clearings Canadian Bank clearings for week ended april 23. 1938, and corresponding figures for year ago Halifax a s St. John Sherbrooke Quebec Montreal Ottawa Peterborough 569.605 Toronto Hamilton 5.402.468 Kitchener 981.186 Brantford 911.261 London Chatham 533.328 Windsor 3.073.305 Sarnia 422.261 Sudbury 966.408 tort William 662.141 Winnipeg Brandon 279.728 Hegina 6.732.711 Moose jaw Saskatoon Prince Albert 302.004 Edmonton Calgary 4.9b8.485 Medicine hat 299 025 Lethbridge 433.448 421894 new Westminster Vancouver 18 182 Victoria president Austin c. Taylor of Bralorne mines limited told the annual meeting that he was in favor of a receptive attitude to wards additional promising proper ties. If we Are going to look or additional property now is the time to he said. Young Davidson mines James Richardson sons metals net High Low close change 9vb in. 36% 26% 34v4 Alaska Juneau am. Smelting Anaconda Cerro de Pasco Howe sound Insp. Cons. Cop. Int. Nickel Kennicott Phelps Dodge 34 45% 32 i 22 ii 44 a motors aviation corp. Bendix aviation. Boeing air plane. Briggs mfg. Collins Aikman Chrysler Curtis Wright a Curtis Wright Douglas aircraft. Eaton mfg. Co. Elec. Auto it Firestone general motors Goodrich Tiro Goodyear tire Murray corp. Nash North an. Avn. Packard Studebaker United aircraft United a lines. U. S. Rubber yellow truck 3% Ibi 27 it 17 i 19 40% 43% 12va 15 i 18 29% 18% 40 18% flt i a it 40 15 it 8% 3% 4% 26% 7% 42 is h it 29 a it 13vi in. Vun. 8% in. I 18 a 11% steels 7% 25% an. Car dry. Baldwin Loco. Bethlehem steel Case j. I. Follow 1938 1937 908.797 operating profit of for 1937, compared to in 1936, the annual report shows. Production totalled compared with total expenditures were or a ton milled against or a ton milled in 1936. 4 annual report of Backfield consolidated mines containing operating statement for the six Mon is from june 1 to nov. 30, 1937, show the company had net profit of 171. Equal to 3.7 cents a share Dur ing the period. Production was Caterpillar tractor Crucible steel Gen. By. Signal. Int. Harvester had net i Otis elevator operating costs were North Whitney mines in the Porcupine area report that the Drifting West of the vertical Shaft at the 110 foot level has intersected High Grade Ore according to advices received of Jackson Bros. Grain co. The face is said to be showing free Gold and the company s consulting Engineer will report further details on his return from the property. F officials of Sudbury Basin mines do not consider it Safe at the moment to place their Vermilion Lake property into production due to uncertainties in the world Metal markets. Development at this prop erty has indicated Copper Lead and Zinc Ore As Well As some values in Gold. Shareholders have been in formed that no further participation has been taken by Sudbury Basin in its la Luz property in Nicaragua pending Complete engineering data on the ground. Gunnar Gold production amounted to in March. A total of tons of Ore were treated for an average recovery of per ton this compares with production of in february when aver age recovery was from Mill ing tons. East Malartic mines Are planning the installation of a Crusher. Mill construction is expected to Start May 15, and the Plant to turn Over some time in october at 450 tons with gradual increases to capacity. 4 a Deal has been ratified whereby Lake Shore Gold mines limited will Prospect the Kirkland Basin prop erty which is North of Lake Shore and partly under the Lake. The Deal involves running feet crosscut from the foot level of Lake Shore. An option has been taken by Lake Shore for 2vz years at a Purchase Price of the unissued Stock of Kirkland Basin has been taken for Cash and the agreement Calls for expenditures up to development of the no. 2 vein on the 750-foot level at St Anthony Gold mines in the Sturgeon Lake area shows phenomenally Rich Ore according to an official of the com Pany. The vein has been drifted on for a distance of 153 feet and the last two rounds in the North Section gave Over a Width of 4.3 feet and Over a Width of 3.4 feet. It is reported that navigation will open on Sturgeon Lake about May 4. Declaration of the regular three foreign Exchange Montreal May 2. Up British j cent dividend was announced at and foreign Exchange closed easier saturday. Nominal rates for Large amounts Argentina peso .2637 Australia Pound 4.0027 .0017d Belgium Belga .1693 China Kong Kong dollars .3127 Czechoslovakia Crown .0350 Denmark Krone .2238 f.0002d France franc .030775 Cunt he Germany reichsmark. .4044 great Britain Pound. 5.0133 unch Holland Florin .5596 India Rupee .3755 Orold Japan yen .2925 new zealand Pound 4.0349 Norway Krone .2520 Poland zloty the annual meeting of Mckenzie red Lake Gold mines Friday to be paid june 15 to shareholders of record june 1. Quick assets of Republic steel Timken r. B. . P. And f. . Steel . Steel pad. Westing. Air a. 1 46 a 75% 39 a 25 17 57 19% 29 96 20 a 45% 75 a 75% Toronto base metals were a bit heavy golds and industrials mainly steady and Western oils stronger saturday in the closing session of the week on Toronto Market. Trading was slow and the turn Over was under shares. Straw Lake advanced 3 to 4 cents to close around and the Clos ing prices were up moderately for Nabob Pandora Wood Cadillac and Gillies Lake. Bingham. Mckay. Ltd Acme Afton Ajax Alta. . Alderman Anglo hut. Arntfield Ashley Astoria r. Aztec aug. Pore. Bag Mac Backfield base metals Beattie Bidwood k. Bin miss. Bobio Bralorne Brett Treth. Buff Ank. By. Hill ext. Brown Oil. C. A. Calmont Oil can. Malar. Caribou g. Castle t. Cent Pat. Cent. Pore. Chem. Res. Chro. M. A. Coast cop. Con Aurum com. Pete cons. Chib. Dalhousie o. Dark water Davies Pete. Net High. A w. Close. Chi. Sales. 2 a 23b 44 310 16b 10 114 2900 30s 24a 44 in. 310 25a 30 40 108 30 40 10v4 885 3 a 14% 51 250 41b 93 210b c5b 250b 1214 2gb 53 225b 125 32 v4b 74 so a 235 bvia.-. 14 a 40 2 a 108 in. 40 in. 1014, in. 885 3vi in. I 2 51 in. 250 45a 225a 70a 256a 12vj 39a 250a 125 36a 26 400 50 woo 200 2600 275 3900 500 500 3100 1800 2000 75 1500 280 1000 5100 1600 700 Winnipeg National Petroleum sold up to 34% in the Best volume of the morning at Winnipeg. Opening firmer at 33 the Issue sold in share lots throughout mar Vel oils lost ground at 6 and Wingold slumped fractionally to 4. Twenty five shares of Bailor Syndicate changed hands at 70, Winnipeg River tin sold at 2, and pack sack traded at 3. West Ern steel opened at 8.50 and immediately jumped to 10.50. Stock traded in. Par value bid Alta. . Gun. Pad. 100 20.00 Alta. . Gun. Com. No 2.60 Beaver lumber pad. 100 Beaver lumber pm. No Blue ribbon pad. Cd 50 Blue ribbon com., no Brit. An. Oil no c. E. Canadian airways no can. . Ray. 25 Corr. Paper Box pad. .100 Corr. Paper Box pm. No Crescent army. Pad. 100 Dom. End. Car. Pad. 100 Dom. End. Car. Com. No Federal Grain pad. 100 Federal Grain com. No it. West. Silly. 6% of. 50 it. West. Sadly. Com. No Imp. Oil no 2.25 31.00 20 .66 2.35 73.00 2.50 94.66 2.50 31.00 2.00 int. Nickel no 1.50 17.25 45.50 3.25 1.00 700 i a Sion 19 13 i 34 vib 95 18% l3vt 34 i a j dome _ in. Dorval Sis. Denison a. East Crest o i 47 12b 52 52 in. In. 95 i i railroads Allegheny corp. Atchison to. By. Balto. Ohio Brooklyn Manhon. Canadian Pacific. Ches. 5 Ohio chi., Mil. . Chi. Nth str. Del. Hudson Del. Lack. I a. Erie common it. North. Pad. . Central Northern Pac. Penna. . Southern Pac. Southern by. Union Pac. In 26 it 5s, i 6% Ivi 8% 2j? 12 to 15% 1 26vt 14 i 11% 1 26 a in. In. Atlan. Ref in. Cont. Of Del. Freeport Tex. Houston new mid. Cont. Pete. Phillips Pete pure Oil Shell Union cons. Oils Socony vacuum stand of Cal. Stand of . Texas corp. Tidewater Assoc. Union Oil of Cal. 63 oils 62 7 62 20% 26% 82 20% 27 East Mai. 10 160 Eldorado 240 Falconbridge 575 fed. Kirk Foothills found. Pete. Francoeur Fernland Gillies Lake Glenora god s Lake. Go Dale Gold Eagle goldfish Graham b. Granada r. Grandora Gunnar 70b 21 20 35 33 23b 24 21 44 19 24 4% 47 17a 52 52 14a 10 a 160 4 228 575 it 170 20 Ioco 200 1000 4950 145 6000 2700 600 21 2% 33 i a 24a 37650 4a 44 114 24 a 1800 500 1100 1000 in in 15% 33v. 10 13 a 8% 13% 29 46 37 a 13 it 8% 13 i 28% 36% is i 4 a unit 13 a 28% 21% 21 an. Per. It. 4% an. Tel t Tel. 126% an. Water works 7% Columbia Gas 5% comm ;