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The Sun and the New York herald. [volume] (New York [N.Y.]) 1920-1920, April 20, 1920, Image 15

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THE SUN "AND
NEW
YORK HERALD, TUESDAY, APRIL 20,
1920.
HA- 10
Selecting Your Securities
Thorough .knowledge of Canada, her resources and finances qualify
us to make judicious selection of Canadian Government, provincial
and municipal securiticj. If purchased now, these bonds will yield
from
6 to 7V2 ,
Principal and interest payable In United States funds.
11 rite for particular! SJ-CO
Wood, Gundy & Co.
Incorporated
14 Wall Street, New York
Toronto London, V.ng., Montreal
MONEY TIGHT OH
' TORONTO MARKET
MONTREAL STOCKS.
The following table tltes Ui total aaiea,
Iiifh, low uniTlstt prices anfl net chaniei of
I NUH1
d April
nil stocks aniPbonda traded In on Ike Uont
real stock ExOituite (or the wees tnm
Traders Find Ojiorutions
Checked at Time When Bull
Movement Is Due.
CANADA
The Greenshields
Monthly Review
tjflA short summary of
the Canadian financial
nnd industrial situa
tion. CWith which ia in
eluded our Investment
Suggestions, a summa
ry of the most attract
ive securities availablo
for investments in
Canada.
JTe shall b clad to send
copies free on
request.
GREENSHIELDS & CO.
HemHerl M outre! Stork Etchings
Vetlen la ColUu Bond Iiium,
17 St, John Street, Montreal.
rBI.--H-M-H--HI--.M
We own and offer
cBcll Telephone of Canada
i S 192S
to yield 8.S0
Ames Holden Felt Co., Ltd.
1st 7's, 1933
lo yield 9.50ro
Uin lionda both prlndp.il ami
Intercut payable tn American fund.
I'rivato wire
"TOHONTO MONTREAL.
MILLER & CO.
iVemhers
Am Yor Sioclr Exchm;t
EQUITABLE BLDC.
,120 Broadway New York
How's
Business in
Canada ?
An unusual combination
of circumstances today
makes Canadian securities
appeal to United States In
vestors. The premium on Untted
States funds, t high bond
yields, etc., increase the
return in invested capital.
"The Income
Build
99
er
discusses the condition of
the investment market in
Canada. Monthly "In
vestment Barometers"
show the upward or down
ward tendencies of bank
clearings, exports, com
modity prices, etc. Sec
curities and industries are
analyzed. Concise, prac
tical information for in
come builders.
Asl: for FREE COPY of
this Monthly Review
raham,Sanson&(o
INVESTMENT BANKERS '
Members Toronto StorW Kirhance
TORONTO, CANADA
CLIP OFF HERE
Ql
ifftnrw
I
MEMO
Write Graham, Sanson & Co.,
85 Hay St., Toronto, for free
Copy of their Monthly In
vestment Review,
"The Income Builder"
Bankers Bond Company
LIMITED
1 INVESTMENT SECURITIES
CO King Street West Toronto
i '
mm
'j
1 1
1
1
3
i
517 Branches in One !
i
Canadian Banking Service
CINCE the armistice
was signed The Can
adian Bank of Commerce
has opened 127 new
branches in various
parts of Canada and
Newfoundland, making
a total of 509 branches
in these countries. These
widely distributed
branches enable The
Canadian Bank of Corn
unexcelled facilities for
handling Canadian collections and for the
ransfcr of funds between tne uniteu
State? and Canada.
'"THIS institution also has offices irf Mexico City,
Havana and London, (England), as well as
correspondents in the principal markets of the
world. American business men will find this ser
vice available through the New Yor Agency and
the branches in San Francisco, Seattle and Port
land, (Oregon).
The New York Agttey mill gladly supply in
formation about Cantiiea bttintu activities.
THE CANADIAN BANK
OF COMMERCE
Capital, $15,000,000
ornnr-fe
tlHAD UFFICE
10B0NTO n
merce to otter
Capital, $15,000,000 Reserve, $15,000,000
Total Resources 28th February, over $440,000,1:
reserve, p 1 5,000,000
bruary, over $440,000,000
New York Agency, 16 Exchange Place
Agents F. B. Francis, C. L. Foster. C J. Stephenson
Head Office Toronto
i Toronto, April 19, Tlcht money is
exercising n. strangling Influence on the
stock market Just nt a time when
brokers fcol a bull movement should bo
.launched. Prices of securities have In
many cases funk to a point that gives
a yield which should attract buyer?,
but just when a well defined rally ap
poars possible there Is evidence of lack
of money, and tho movement dies be
fore It has scarce begun.
I Hanker who are trying: to control
the situation In n manner beat suited to
the country's welfare aro naturally glv
Ins first consideration to credits for
ordinary business, where so much more
Is required to carry a Mock even ap
proaching the dimensions of a few years
ago. The general manager of a bank
offers tho opinion that there will bo little
or no relict until tho crops begin to
move In tho fall, and then the require
ments of money for tho very purposo of
crop moving may' prevent any marked
loosening up for speculation.
Under theso conditions traders And
their operations circumscribed, and an
event llko the approach of tho steel
steamship shipbuilding merger has not
been allowed to produce a bull market
such as might be expected. !
Nearly every day wo read of new In- j
vestments of American capital In Cana
dlan Industries, whllo In other ways tho
economic Interdependence of the two
countries Is constantly evident. Cannda
has undertaken to supply tho middle
Western Plates with 10,000 tons of susar
In return for 2.C00 tons of raw sugar. t
be supplied to refineries In eastern
Canada.
Publishers from the middle West have
been hero seeking suppllen of nowHprlnt.
while a. representative of similar Insti
tutions In Great Hrlt.iln is now nt Ot
tawa on a similar 'mission. It must not
bo thought that (.'anadlau publishers
have an easy pnth Just because they are
close to the spruce fork's, for the Ca
nadian pnpcrmakerfi nre as eager to sell
In the highest market an Is any other
form of aggr.slve business To nd.t
to the higher cost of newsprint now
cornea the proposal of the Dominion
Government to ralte tho rate on news,
paper postage from K cent per pound
to 1 cent.
Financial reports recently made pub
lic carry a measure of encouragement
on tho Industrial situation. Companies
apparently are well supplied with work-'
lug capital, many of them even showing
an Increase over a year ago In spite of
the dull period of-business In the early
part of last year.
Tho Canada Machinery Corporation re
fleets tho uncertainties of tho early
months of pence, when Its bulni'ri
differed through machinery being
dumped on tho market at a sacrifice.
In consequence their net profits were
JlfS.UI, compared with 77.101. The Ahl
tlbl Power and Paper Comapny, with
large Induntrlcs l miles north of To.
roiuo, nan nec earnings or j-ms.ti,, aa
against I1.6I3.K3.
The Robert Simpson Company showed
'he profitable nature of merchandising.
ct earnings on their big Toronto stor
'elng $t,9SC.3n. compared with $1,152,591.
This company's early financing was
done In England, but last year an Issuo
of preferred stock was offered In
Canada.
The Kiordon Pulp and Paper Company
announces an Increase In capital from
$),).() to G.CX).0CO, which will bo of
fered to shareholders In tho ratio of one
i-harc for every thrc! held, at a prico of
$l"i. At present the stock Is quoted at
IB.
Most of the Interest in last week's
trading on the Toronto Stock fcxehnngo
centred in paper stooim, where the
speculative element Is constantly looking
for payment of back dividends or a stock
distribution, which w'll make it Juicy
melon. Hrompton at lat came Into
prominence, while Spanish Ulver waa
naturally to the front In expectation of
a payment of arrears on preferred soon
to be announced. At the end of the week,
However, Spanish securities showed
weakness. Steamships' strong revival
was apparently based on the merger
! rospect, wh'le Brazilian Is always with
us as a speculators' favorite.
The following Is a summary of the
week's trading on tho Toronto Stock
Exchange, with comparisons:
Hlrh. low. Lit. Chtt.
11 1
Biles. Blocks.
tMAbll 1
43 Alllt P
73 Am II MoO Lt uf..lmi IMIi 107
(FARMING ON HIGH
1
PLANE IN MANITOBA
& ! it,,,.i;
A v Li pf, g
Itljh. Low. Last Cat.
133 KU HI w
m vt N
ur
10Alitllt6 O O Lt.. 75
J. u
T - (
100 Abet a a li i't fa mm
U10 Atlantic M n Lt., MU M
141 Krll Telephone, ,.,1M 106
S3 11 O Plli A Pack.. 51 it
ItWllrntll TLA 1... Mi 45H
IXH liromp r ft P Lt.. s:vt st
C7 t'aa lymrnt 07 (5
SKI Can Cemrnt pf,,,. Hi IKS
175 Can t! A V Co I4i Uft
1U L'ln OAK Co )UM 101
SO V.Ui COttom l.l... SS
I (.'an Colloiu I.t pf U nttj
JSCan den Klcctrlc.loSH 1M
JKCan nte&mtiip n 74(4
in Can KteamnMp pf I2i si
(atcarrlate Kao Lt. M :
rk0 t.'oa Mln A Smelt. 3 IJ
ins Detroit Un Hr.,..loj im
43 Horn (.'lumen M 63
& Horn Cannrra pr SOU MU,
tuDom Ilrl.ljo C0...1M 103
!3 Horn Coal nf e d.. W i
150 Uom uiats i.tit... m et
a Horn r.las.1 Lt pf.. I7!i VSi
41 Doin I & H pf,,.,, k8 M
WS Horn Ktcel Corp.. 71H 70
lot Ilom Hteel Cor pf. 1 1) 80
33 Horn Tcitlle 123 137
14 Dom Textile pf,..103 101
Ooo.wlm LW 33 33
1ST, (looawlns Lt pf... C3 DO
9 Unit Itenfrew .... 70 70
a Howard Hni I pf. (3 P8
1 Illinois Tran pf... 70 70
Wl Lake of the V,k),I..15 1W
13 Ldka of the V'i pf,103i 101H
Laureutiilf 9 Mi
43 Lvall Oonstrilctlon 33 33
113 MnrtloniM 33 3V
15 Mont Cot I.M pt.105 IDS
C41 Mo 1, 11 A l Con,. S7t 't
1 Mont Tram ir....U4s llli
SIM Mont Tramw'a rich, 71 71
1333 Nat Itrewfrles 51 511;
3t Nat ItirvcflM pr.. M'i MA
10 Nor So S & C rf.pv; 103
63 0tllr FlOur. Mllij 333 11.3
oociiv fi jriiis pr.iosi'i iosvj
IMOnt St rnxlticts. . 47i CT'i
37 Ottawa L lUl'uw.. P0U SOU
sn l'enmana LW ....IM lis
4! Price Ilro Mil . ..32 331
4ISQni-ItrLItAr... M 13
740 Itlnncton Pulp & 1M7CH 173Vi
19 -1
MU 1H
103
U -1U
ISij - H
WU 3H
WU-1H
'
3y, - j1,.
lot -1
3J 1
71 ..
103 - '
i
11
3
107M 3i
33 T H
SOU ..
103
S V
37
I7M ;
3 l
70 - IV
00,000 Children Taught to
Hank Agriculture With
'the Professions.
MARITIME CANADA
PLANS TO UNITE
nr Tina iio.v. t. c. Nonius.
Premier of Manitoba.
Willten especially for Tun BZn and
New VonK Heiiau).
In our system of cducat!n wa havo
Aims to Avoid Waste in Keep
ing: Up Thrco Provincial
rnrlinmcnts.
SvaM lo Tnn Scs AD NkW York llr.nt.l).
Ottawa, April' ID. A movement de
signed to bring about legislative union
ot tho thrco marltlmo provinces, Now
Urunswlclc, Nova Scotia and Prlnco Ed-
lald tho surest foundations for our baslo I Ward Island, has been launched under
industry, becauso an tho result of wise ti,0 nusplces of tho Maritime Board of
methods In the laat few years we havo
got to the position where ngrlculture In t
WE OFFER
CI1IUARO
City of Vancouver
British Columbia
4 Coupon Gold Bonds
Ihi" June. 2m, 1928
To Yield 7.30
Principal ami half yearly inkml
payabfi in Unilal Stales Gold Coin
Descriptive Ctrcular oh Request
A. E. A IVIES & CO.
KSTABLISIIKI) 1889 '
Investment Securities
74 Broadway, New York
Head Offices Union Bnnlc Bldj., Toronto
MONTKIV.T, VIC T4JH . it. r
Trade.
, ! Manitoba Is regarded as one of the pro- j Premier Foster of .New urunswicK nan
fesslons. Thirty thousand children aro announced that an Interprovlncini comer-
- I
'
-'j
10 Rlon Pulp . I' priOOi. 100
m i.aw noiir pr. i
4MFhlng'n W A PWM
lew spanlfh Uher .. 91H
!01 Kpun K dlr TOiichrr 4
MM Hpanl-h Rlrer pf.141
17 flteel Co of f'nn. U
1M t Co nf cm pf.. 1174
M Toronto llr ... M
Tooke Pros 70
S3 Vahaun Cot I.t. ..113
:3 War'k V A P I.t . .i
33 Wf.ils Jlfs Lt Df. J8
PANICS.
1W
10?
ISO
M
7
SO
70
113
30
10
1M
IM
33
VS
70
n
70
103
10311
VI -1
S3 - 4
1
ins
H -H4ii
71
51f, - U
MU
1.V,
Xi
103U .
"li
S0!5 1
ll -1
321 - 1
r. - ij
174
1W
34 ..
10S - i'i
, - S'l
V H
139 - 4
Sl'iH-
"7H 4
M 3
70
-, :it I day
being tausht In the agricultural dls
trlcts that the man or the woman with
brains need not urcomo a lawyer, a doc
tor or other professor away from tho
ence will bo called at an early date, and
tho comment of the press df the marl- j
tlmo provinces would lndlcato that Im-1
farm, but that fanning la ono of tho portant results may follow. ;
The Sydney Post says tno movement n
nn old oho, wheh has not made progress
proportionate to Its age. lt consldors
line arta and best of the profession;
and we aro keeping our best and strong,
est men and women on tho land as the
backbone of our basic Industry.
Another drawback used to be the Idea
that cheaper lands could be found In
further fields, notwithstanding the high
er freight to and from such lands and
tho present an opportune time to push
the project to a successful issue, i on
tlnulng, the Po.it says:
"Apart from tho waste of maintaining
three lnml Purllnments for 300.000 peo-
' other disadvantages not then recognized, I pe maritime Canada would exercise
which do not appertain to Mnnltoba j vnsly greater Influence 'in Federal nffalra
inuns. J no result in nus cnaiign i r united Into a s ne e nrov nee. ror one
view naa en mat wmio aianiion.i larm
13n i rtmtiierr .
131 Merrtianta .
13 Molon . .
33 Montreal ...
40 Nora Scotia
?o no l
31 t'nlon
...1M
,..1M
...710
...170
,..::ivi
t37'i
133V, 1H - H
1M 190 1
190 1901
tio :io 1
270 370
::i 23111 l'i
157'i 157'i Hi
no.sns
fS.Vi.1 Hell Trl 3 '03 ... 901j
VM Can Cement 6 n
:W Can P A r '33. 9)
lftv) Pan P Pnli 3 '43. 93
1 Can ('nt I.t U '10. 3
7(rtl ran S Dch 5 '41. 761,
390.) (' It 31 A P 5a '53 . 87i
3)00 (' ,.f M Gj D.-c '23.101
fair of 3r$, Stay WIMH
Vti C of M 6s. 8opt Tl 100
MOO 1) of (' V L 3 '33 . 94i
1WM I) of r V L 5a, '31. 91
SJSCO I of C W L 3s '37. 9Si
1100 Dom Can 5 1910.. 9!b
72CO Oom Coal U 1HO SI
lfo Dom Cot 1533. SH
7003 Dom I A S S 1S29. 6IVi
100(1 1. nl the W e '33 'i9,
f(H N.il Tli-ew (is 11" W4
2000 N R Rtl A C 13a. '31 1
lniV) C P M s C, 1333.100
lOCOIViinmns Ltd 5.. ti; (-Hi
"cn P ll-ns I.ti f". 'f S'
J4TO0 O P. L H A P 5s, '39 62
CW Slirrwln W , '41 sjij
CW WP A P Ltd Cs.'ll M
Fractional lots.
The unit of tradlnr In the Montreal Stock
Exchange l- Stnelts. 23 shores: banlts, 10
shares: mlnmr. W share, and bonds, 3S.C00.
Mi, MVi
92 92i- U
90 .90
!1 91
S3 S!
7ij 7'i ..
SHi 87 'i
101 104
100 100
m too
94 91 - 'i
9HJ 93V, -
9Ti 97?4 - H
924 9'-'4
s;i j m
H tS' .
II $4
99VJ 93' i ..
Yi fl9i
SI 31
100 100
' f
2 (2
9114 99,
S4 S3
DEEP WATERWAY
SCHEME FAVORED
im
744
C7Vi
lO0!i
S3
17i
It
60
9J
133
93
43
5
7H
f2V
93
140
M
374
TO
M
73
KVi
ITS
101
90
6
37
3S
17S
ti
ti
-1H
-7T
1
1
-4
tl
-1
.'4
-3
2
3'J
-1
r i i
L ill II!
jMBKltT CASSEI W.G.IX.HR0TV7CC
Z A. M. DROWK
'Cassels, Browne & Co.
Vtmbtn Toronto Slock Ezekangt
318 Dominion Bank Building,
Toronto.
DIRECT PRIVATE WIRES TO
New York, Chicago nnd
Washington
CORRESPOXDEXTS OF
, A. A. Housman & Co.
Canadian Government
and
Municipal Bonds
A temporary exchange condition
gives th American investor an
opportunity to procure Canada's
premier securities at prices to
yield from:
6.50 to 7.50
Offerings tent on rtruest
C. H. BURGESS & CO
14 King St, East, Toronto, Canada
Sales.
s Am win m j a. u
1016 Atlantic Sujar... i; S6H Hi 4lI
100 Ilarcelona si, si, J
lt Braxlltan 44H 43"i 45Vi K,
t6 Bell TleDhone....lM lOPi loiti a.
6 Burt. P .V H .. H - U
403 Can Bread 27H t4 244 U
510 Can Cement M M 64H 34
10 Can Cement pf.... 90 4 93 .
130 Can Oen Elec. .. 1W4 ri loan 4.
it Can Gen Elec Df.101 100 100 4-3U
SO Can Loco Df SI 90 m
m i; ! n 135
1127 Can S S IJooa.... 77 7)i
373 Can S S Uaea pf. K'i 31
1 Cltr Dairy pf 98
4 Conaumera Gaa.. 140
35 Crow'a N;t 53
33 Dom Cannera pf . M
75 D-.m Stl Corp.. 704
50 Dnluth Superior.. 204
10 Mack.y T
124 Jfnkay pf 9
10 Manln lj-ht 1M
23 Staple Leaf pf 101
70 Monarch pf 90
50 N S Car s
10 N" S Car nf V
11 Portn Rico Ry....
IS Itlordon K34
23 Roiers S3
15 Rn.s-11 M C
10 Rusall M C pf... 92
?io Saaj-er-Vaa 20
SSH Pa-yer-Mas pf.... ft
10 Shred What pf.. i
ST2 Spanish River 97
JM Spanish Rlv pf...l43
li Stel of Ct.n II
113 Sieel of Can pf... 93Vi
192 Toronto Ry 50Vi
1 W Can Hour M..113
MINES.
4.-.0 Cons Smelters .. 271
50 Domn Mines 12 30
3M l.a Rom 48
373 Niplulnr Mines. .11.60 11.00 11.00
BANKS.
113 Commerce 1314 190 lfOH 14
33 Dominion 201 fOO 200 1
34 I'ami'ton IM ISIX u
10 Imrertal 1014 li in iVi
8 Merchants x-d....li0 lw H7 24
M "oyil 221 713 221 2
21 Standard M 215H 2154 14
f luroiuo i'ji i?i
13 Union 1574 137 157
LOAN. TRUSTS. AC.
10 Canada Landed.. .140 .. 149
203 Can Permanent. ..177 176 KS
39 Col Investment... M u
BONDS.
5 Dom Steel SOU
I1!00 Qnebec L, H 4 P tlH
lto) Steel Co of Can.. 374
WAR BONDS
irao 19-H r 94i
Z'W 1331 (H Vi Ml,
30AW 1937 5 3S!i 974
UNLISTED.
St. Lawrence Project Revived
by Railroad Troubles.
Sfieria' lo The Srs ami Naw Tonic ltciui.n
Ottawa, April 19. The St. Lawrence
deep waterway scheme, now under In
quiry by the International Joint Com
mission, has tho favorable Influence of
a series of Interrelated events. The de
pendeircc of central Canada on Penn
sylvania for coal, the disturbance In
supply due to strikes and Inefficient
transportation have tended to crcato a
more or leas well Uedncd desire to get
relief from thoso conditions. The
Chlppaw.i power plant under construc
tion will provide 400.000 horae-power
and relieve the demand for Industrial
power now existing In western Ontario.
Hut the eastern portion of the province
has seen how much Is meant In cheap
power and will press for like privi
lege. Tho St. Lawrence Is their hope.
Vac Hydroelectric Commission has
plans for local electric1 railway lines
which so far meet with slight aupport
from the new Government. But Sir
Adam Beck haj ambitions to get the
right to electrify portions of the Cana
dian national lines. That might be an
acceptable substitute for his schemes and
further the end In view of getting the
St. Lawrence harnessed.
Ontario is putting 140.000.000 Into the
lands In certain sections of tho province
have changed hands during the pas'
year nt $100 an acre. It U beginning to
be recognized that wo still have, good
farming lands chlelly raw prairie, In
good locations, at from $2f to $.ir an
acre, and In mmv Instances, owing to
the disposition In the past to stray on
to distant fields which seem greener,
such lands can bo found within thirty
miles of tho city of Winnipeg.
Tho fur and flsh productions of our
nortliland has still vast possibilities, but
In our timber lies an almost untouched
asset. Wo havo millions of acrew of
pulpwood. which could folvo tho present
difficultly of tho North American
paper makers and which could cither bo
manufactured on the spat from cheap
water power devclopmen', or In othei
cases could bo brought down our lakes
and rivers at a minimum of cost and
manufactured close to Winnipeg.
Our greatest promise, however, lies
In the mining prospects of tho new ter
ritory nnd of the portion of the nlmost
unknown region of our older province
cast of Lako Winnipeg, known as the
Illcc Lako district. Two great areas of
minerals hve already been discovered,
the first In the district just mentioned
and the other In the nrea north of the
Pas. In practically all tho mining areas
the facilities offered for cheap water
power production arc such that Judicious
expenditures of capital and reasonable
business methods will mnko even low
grade ores protltabie. but experts con
sider that the possibilities for Immense
high grade propositions are more than
favorable, although a great deal of sci
entific prospecting and development
work Is necessary before It Is possible
to state authoritatively what the future
development of the province along this
lino will be.
The minerals and deposits or Mani
toba already proved Include gold, cop.
per. molybdenite, hcmantlto Iron ores,
coal, gypsum beds, salt springs and
stone. Our new Parliament buildings
nre built almost entirely of native stone
of very beautiful appearance, especially
for Interior stono work. Marblo Is be
lieved to exist In large quantities In the
extreme north, and thero aro prospects
of other and rarer minerals of which lit
tle can be said at present.
Small gas Indications have been known
to exist at various points for many
years, but neither oil nor gas has yet
been prospected In commercial quanti
ties or possibilities.
It would be easy to develop a good
deal of optimism along the lines of
mineral possibilities In Manitoba, but
the duty of myself and colleagues Is
not to write mining prospectuses; and In
the official publications from the. office
of the Commissioner of Northern Mani
toba can be found exact, scientific and
necessarily conservative statements of
what has actually been accomplished
and what Is actually known.
Manitoba was tho flrst of the Cana
dian provinces to adopt modern and
more human methods In the treatment
of the Insane and Is advancing rapidly
along other lines that will contribute to
the social welfare of the whole commun
ity. All of these measures have been
brought about through n healthy co
operation between the whole community
and the lawmakers und administrators I
of this province, as embodied in thriN
Provincial Legislature. It is my (Inn
belief that It is only through such co
operation between tho Citizens and the
legislatures that wo can deal widely in
legislating for tho general good of the
people In tho new era which has been
ushered In by the conclusion of the world
war, and there Is no doubt In my mind
that In such cooperation lies the great-
thing, a united maritime Canada would
be In a position to secure tho adoption of 1
a fair Immigration policy, which would ,
Insure to the east a reasonable propor
tion of the settlers who will soon be
coming from tho United Kingdom in
large numbers.
"Furthermore, In this age of national
reconstruction, strong and progressive
provincial governments are particularly
necessary. There Is too much parochial
ism In tho marltlmo provinces, largely
because ot tho county council typo of
Legislatures they possess. From every
type of View eastern Canada has every
thing to gain by the ndoptlon of some
Krhemn or mnrltimc union."
Tho conditions which suggest tho ne
cessity for legislative union are stated
by the St. John Telcnravh. Apart from
the economy Involved in replacing Ihiee
legislative organizations for one tho
Tclcuiaph sees In the more rnpld
growth ot the other Canadian provinces
a menace to tne inuuence 01 mu .wau
tlme provinces In Federal affairs. "Vigi
lance and cooperation an necssary."
says the Teleiiraph, "If they are to se
cure duo consideration In connection with
great national projects, such as railways
and public works, immigration, high
ways, port development and other enter
prises i-o largely dependent upon Federal
authority. . . . It is an outstanding
fact that the common Interests of tho
peoplo of tho three provinces are so
great as to furnlth In themselves n
strong argument for unity. The union
question Is not one that can be Fettled
hurriedly. It must be ndvanccl stage y
sLage, with dispassionate consideration
of even- essential feature."
The Munltoba Free Press points out
that the Parliamentary representation
of the marl time, provinces will fall again
In the redistribution, of 1922 and the
movement for legislative union Is a
natural consequenco of decreasing Influ
ence at Ottawa.
PROVINCE OF IVaANBTOBA
Guaranteeing Can. Northern Ry.
4 BONDS DUE 1930
Yielding 7
FRINCIPAL AND INTEREST PAYA5LE IN N. Y.
CO.
CMIMUS JARVIS &
INVESTMENT BANKERS
ESTABLISHED 1891
Jarvis Building
Toronto, Can.
CANADIAN SECURITIES
and Industrial Issues
with
Principal and Interest payable in New York funds,
with attractive yields at prevailing rate of exchange.
Write for particulars.
THORNTON DAVIDSON & CO., Limited,
Transportation Builcllhg,
Montreal.
SI St. Peter St.. (3 Sparks St.,
Oueti-c. Ottawa.
CANADIAN GOVERNMENT
3 Bonds, due January, 1962
4 Bonds, due January, 1962
Guaranteeing Grand Trunk Pacific Railway.
Payable in New York City in Rold, to yield G'tVo on the investment.
An exceptional opportunity for loti; term investment.
Full particulars on request.
s. & c
jeo Rroadwar,
37 St. Francoli Aattrr St.
Direct private nlre rnnnertlnn.
Ne York.
Montreal. ( .in.nlj.
Chlnnawa nower ucheme anil is con-,
lldent tho Investment will pay. Power est hope for a realization of tho fine
Is sold now ly the commission for prices . futuro that our rich natural resources
varying from 15 to M0 per horse- 1 hold In promise. Thero Is constantly
JOWer. .Which is mucll bClOW Cast of sro"'" evmcnte 01 uio ucu'rimnauun
power generated from coal. For the
19
(2
n
KK -4Vi
I3SH -l4
1 - i
13 . ..
4S ;
115 -30
27K ..
13.50 .20
43 3
-.50
of all suctions of the community to pull
together for the realization of our best
hopes, and to my mind this is largely
accountable for the tinquenchnblo spirit
i of optimism that still dominates the
I people of this province.
Manitoba extonds the hand of fellow.
nine months ended December 31. tOU,
the sum of $16,649,000 was paid by
Canadians for American coal, which
was flO. 000,000 a year less than the
two previous years.
in mc u incur jcur.- unmriu anil ,M ,, , f-nri. ,i
I' I k,t...n ....!. . I,D 1,, rrl.A
1lCkliicii ovum u. t.n uuuiiu.,;, .lie
Quebec have developed approximately
l.SHO.OOO horse-power, which Id used
chiefly for Industrial purposes and
lighting, but to some extent for motive
power on street railway lines. It Is
estimated that this power already de
veloped saves $24,000,000 annually In
coal, and Is much to bo preferred as I ness and mutunl advantage.
wen as being cneaper.
Imaginary lino which divides us la one
easy to cross. No forts or cannon are
needed on cither side, nnd the message
I have to convey from Manitoba to New
York is a hope for better acquaintance
and closer friendship. In the tics of busl-
94
- 4
l
4
f 0'4 . .
n ..
s?4 K
314 ,
S2i S '
374 -,
The qncrtlon came before the Senate ! r A fJ A H A SFFffiNr"
n thfl form of a resolution by Senator tlnimMSfi
WHEAT MARKETS
i
I;. D. Smith advocating the use of
electricity for power on the national
railways. He Instanced the 440 miles
on the mountain section of the C, M.
and St. P. in support of the plan, and
claimed a saving of 2S0 tons of coal per
mile of ra.Ilway electrified.
Tho Federal Government Is not com
mitted to any policy, and Is wary. An
Under Secretary of the Ministry of
external Affairs and not In the Cabi
net, has been an advocate of the St.
Lawrence deep waterway plan, but he
has been silent for some time. Under
HUDSON'S BAY CO.
PLANS GREAT FETE
250th Anniversary Will
Celebrated.
Be
WiNNirro, Man.. April 15. The Hud
son's Bay Company, whose long history
has been In great part the history of
western Canada, will be 250 years old
on May 2. The charter creating the
comppnv. now tho oldest trading con
cern In i he world, waa signed May 2,
1(570, by King Charles II. The company's
birthday anniversary will be celebrated
by an elaborate pageant and carnival In
the flvo principal cities of the West
Winnipeg. Edmonton, Calgary, Vancou
ver and Victoria.
In W nnlpeg lt wilt take the form of
an impiMslve river pageant which will
set sail from the site of old Fort Garry,
about which tho modern city grew, and.
pass down Red River for five miles.
Manning a fleet of old fashioned craft
will be seventy-five Indians and hun
dreds of whits and ha If breed trappers
from the company's fur posts. The
Indians will bo tricked out In paint,
eagle feathers and full regalia of war
and the trappers will appear In the
turcsquo furs and buckskins worn by
their predecessors of two centuries ago.
In tho street parades in the four other
cities symbolic floats picturing phases
of tho company's romantic history,
Indians, trappers, dog teams. Red River
carts, noyal Northwest Mounted Police,
provincial and city officials, civic bodies
and women's and automobile clubs wiTl
take part. Holidays wlU'"be declared In
all the cities during the celebrations and
business houses and schools will be
closed.
Further Need of National Aid
Is Seen.
Uptelal lo Tns Svn ixd New Yosk HraUD,
Winnipeo, April 19. While the Can
ada Wheat Board since its inception has
TEACHERS' SALARIES
DISTURB DOMINION
Increases Generally Admitted
to Be Necessary.
Ottawa, April 19. Better salaries for
Canadian teachers as the only means of
meeting the serious shortage in nlmost
every province In tho Dominion is
strongly advocated by newspapers
throuihout tho country. The Reglna
Leader says :
"Xo person who has given the subject
serious thought will question the need of
increased salaries for teachers If our
whole education system Is to be effi
ciently maintained and continued 1m-
provomcnt nnd progress mado."
The St. Thomas Tms-Jornal thinks
Increased aalarles alone will not man the
schools with efficient teachers at a time
when so many opportunities for profit
able employment are offered both men
and women. It says:
"It Is not only essential that the sala
ries of tho tenchers should be attractive.
Canadian Advertising
"On the spot we know conditions"
Smith, Denne & Moore
General Advertising Agents L,M,TED
1463 Broadway
New York
Lumsden Building
TORONTO
McGill Bldg.
Montreal
The Real Story
of
Porcupine's
Riches
An illustrated booklet,
telling in an interesting
way the real facts about
Ontario's great gold
producing district, will
be sent free on request.
Write for your copy to-day
Homer L. Gibson & Go.
703-4-5 Dank of Hamilton Bldg.
TORONTO, CANADA
WANTED
Province of
Ontario
44t, 1926
Province of
Saskatchewan
5s, 1925
OFFERED
City of
Montreal
6s, 1922
7.25 Basis
RUTTER & CO.
14 Wall St., N. Y. Rector 470
05 K375tt mm 5VSUT vnzi
TELEPHONES MAIN 0173 AND 6831
Cattle Lenda Vlbertn'a Exports.
O.vLCAitr, Alberta, April 19. Official
gram dealers, mere are indications that
the announcement by the Federal Gov.
the Constitution the Federal authority c""mt. to tho effect that "it is not the
extends to cnnals anu control ot ship
ping and to the needs
"Incidental to navlgatlo
Ince of Ontario will claim any
power
present Intention of tho Government to
wheat
present
season s year's crop, nas not been re
developed along the river , flowing celved with complete unanimity by
through international territory on to
the point where the St. Lawrence Is in
all Canadian territory and In Quebec.
That claim Is based on the control of
resources which went with tho province
Into confederation.
come In for severe criticism from rainv rlcs 01 lno 'encners snouia Do attract ve. '
SerV prlncW conditions which surround their figures have Just been Issued showing
nu.n, uiu ..t u'lii; .in appeal equal Alberta s exports to ine unucu ataies
!wuOfnVh0 nn!n slTa; .SC,h.01 during 1919, and these give a total of
teachers are mqre or less Isolated In . . .,,,
their nrofeaslon. while womci In husl. $17.5So,3;2. which was $,,COO,000 moro than
ness are privileged to enjoy those intan- the total for'ISlS. Of thi3 'amount $10.- ,
glblo but valuable associations which 934,387 passed through tho Calgary of-
are of a part with industrial and com- fice, according to S. G Heat, the United '
merclal pursuits." Mates Consul here. Cattle led tho list
The Kingston irftlj declares there aro ot Calgary's exports, their valuation be-
thousands of schools In Ontario that are Ing $7.K'rl,S27, which was Just about
closed on account ot the scarcity of doublo the value of the ISIS exports.
teachers. Wool showed nn Increase from 12,000 to !
- 2i,(fO pounds, the respective values bo-j
Montreal Building Iloom On. ' ing $2i,iV) and $112,500. ,
CANADIAN
SECURITIES
Write us
intormation
companies.
ior authentic
on Canadian
STOBIE, FORLONG & CO.
Mtmheri Toronto Slocb Exchanli.
TORONTO :: HAMILTON
CANADA
of and things continue the services ot tho
n." The Prov- board," for the marketing of tho
Canadian
Investment Securities
CANADIAN FINANCIAL CORP.
HI Broadway New York
Tat. Rector SS2I.
:037 Brompton 33'i
1120 Holllnger (US
87 North Star 7.13
4.25 North Star pf.... 3.S0
77-, N A Pulp 4
u"(0 Heater 33
100 Homo Dank 37
23 D.ark Lako 14
:o P Lyall S14
If) Wajraramack .... S3",
1(3 Macdonald JlVi
S3 Macdonald pf .. 73
1200 Dome Ex a:
M Dora Foundry 74
10 Dom Foundry pf 904
23 Dom GImi C74
! Trrai.liamlnr ....43
3M F.'k Baln 10";
2!fl Metnlyre 2.0S
326 Producers 9
KM Ape 24
2 Klnr Ed Hotel... 7t,
Total tale LUted ha-e,
13,31; War booU. Jlil.tO).
S7
t.M
6.76
3.33
34
t
SO
31
324
7S
to'; 3;
.fO .10
.J5 .20
3.M
Western members of Parliament.
Whether tho wheat hoard as such is
continued or not. It would appear that
owing to the complicated situation aris
ing In connection with the export mar
kpta nt linth wheat anil flour In rnn.ri.
I pressure will be brought to bear upon
the Government for the continuance of
some kind of national marketing.
In reply to a question In Parlia
ment, Sir George Foster, Minster of
Trade. nld: "It Is not correct to "-ny
that a greater number of mall flour
mills in tho country nro closed down
Farmers Form Coal Company,
Rcoi.va, Haslc, April 19. A farmers'
coal company has been formed at
Lampman, Sask., being the flrst com-
fj , . mi? ui no muu ii tuo treat, radically
is j i all tne stock: nas Been taken up by far-
JJ .. mers In the district. A shaft has been I than In normal times on account of the
tj,, 7, ' sunk 174 feet ana a seam of coal eleven
. t.at th,.V h.a h..n fAtin,, TV,. 1 l
sjii '.i scml-bltumlnous and the mine Is excep-
tlonally well equipped. A seam of brick
l 4 clay also found will be developed.
uj
imports io u. a. onunne iiearr
Montkbal, April 19. Tho superin
tendent of building construction for
Montreal reports that the permits for
new buildings during tho first three
months of 1920 exceed by almost four
times In money the permits Issued In
tho flrst throe montln of 1919. liulldlng
permits for tho first quarter of 1920
amounted to $1,559,480. aa compared
CANADA-
Consult us on Canadian Investments
Intelligence mean3 profits.
Statistics, Quotations, Service
Giren on Uerur I
W. STURGIS MAC0MBER
The Canadian Pccurltioi Specialist
35 Wall St. New York
Telephone Hanover C-173. '
7S
73
W'i
tO'i
t.os
9
714
-1
- v
.03
-t
10.C07 Uaiijtcd.
Ottawa. April 19. Canada's Imports
from tho United States during 1S19 waa
equal to apnroxtmntely $S3 per capita:
from tho United ICInglom they were
about ;i2 per capita,
export market being neglected. The w,tn 3.io- or tne same period last
Government Is not aware that the ycar-
Oriental market Is about the only ex-
port market available foi- flour at the PaclOc nates Xot to Iliac,
present time." VANcotrvxn. II. C, April 19. Shipping
Nevertheless the flour mills of Can- companies of this port state that the
ada are practically nt n standstill increase of freight rates on the Atlantic
owing to the difficulty of securing ex- will not affect the rates on the Pacific,
port markets. During tho last .two Oriental and Australian lines say they
weeks there have been in Ottawa rep- do not anticipate any mitorial Increase,
resenlntlves of the millers who have laid Th passenger traffic Is brisk, but there
nown uic wuu.iiiun io me uovernment s accommodation sufllclent to meet the
ulth rr(-nri1 trt thA .vnnrl flnu. ,,a,la I , . . ........,.. , v. . .
...... ....- . .... ..wu. ua.t, uenmim iur auiuaiMiiuu .cn cuianu.
WE INVITE- YOUR INQUIRY
ON
CANADIAN SECURITIES
BOUGHT SOLD QUOTED
AMERICANS INTERESTED MAY SEND FOR OUR .DESCRIP-
TIVE CIRCULAR "S," WHICH WILL GIVE FURTHER t)E.
TAILS OF INTEREST TO ALL INVESTORS.
. H. M. CONNOLLY & COMPANY
MEMBERS MONTREAL STOCK EX( HANGE
Transportation Building
Montrcnl, Canada
t
3 t

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