The Winnipeg Tribune from Winnipeg, Manitoba, Canada • Page 10

THE WINNIPEG EVENING TRIBUNE, SATURDAY, AUGUST 29, 1931 Announcement of Big British Loan Lends Firmness to 10 SESSION QUIET BUT NUMEROUS ADVANCES MADE! Coppers and Motion Picture Stocks Touch Higher Levels By CLAUDE A. JAGGER (Associated Press Financial Editor) NEW YORK. Aup. 29 Firmness of the stock market today reflected the quieting of nervousness over International finance with the for mal announcement of the huge loan to Great Britain, and the conviction In speculative quarters that September will bring some improvement in seneral business activity, even though It may be slight. Copero and motion picture stocks were traded in fair volume at somewhat hlt her levels In an otherwise extremely quiet weekend session.

Sponsors of ttar motion picture stocks state trrkt the companies have effected sweeping economics, and that autumn usually brings en increase In theatre attendance. Coper shares were bought in response to a slight firming of copper metal prices. Copptr Prices Gain Gains were largely fractional, although several leading shares pushed up a point or two. Including American Can, Allied Chemical, h.S. Steel, Case.

Consolidated Gas, Westinghouee, JJew York Central, Erie, Baltimore and Ohio. Radio preferred Westinghouse Electric. In the motion picture issues. Warner Bros, common was pushed up a point, and the preferred rose 3. It.

was reported that the company expects to get its bank loans psid off by the end of the year. Such lasuea as Loews, Radio Keith, Fox and Paramount rose fractionally. In the coppera, only American Smelting got up a point, but Anaconda, Kennecott and Nevada rose i point or more. The actual gain In copper prices waa largely nominal. The copper market remains almoat completely at a standstill, but some metal baa been told at 1 cents a pound, as against a flat price of 7H recently.

The large producers, however, remain entirely out of the market, holding out for 8 cents. Mild Enthusiasm Wall Street has been encouraged by the better tone In bonds, particu liens, which was manifest tor the larly the long depresesd railroad fourth successive day today. In view of the unsatisfactory character of most railway earnings' reports, howver, the turn has been somewhat puizllng, and has started rumors that a large pool had been formed to support the market. In the railway atocks. Norfolk nd Western, umialy a wide mover, sold 5 points higher.

A news ticker analysis indicated that its $10 annual dividend Is being earned by a wide margin, and that It la possible that the usual extra may be declared this autumn. The extra a yesr ago was $2 a share. The opening of the J400.000.000 credit to the British government waa greeted with only mild enthusiasm In London, where the prospect that a national election wll be held in a few months leaves the outlook somewhat blurred. Sterling Strengthens Furthermore, financial quaters are rather gloomy over the prospect that the coalition government's economy measures may re ult In further Increases in taxes. Sterling exchange a gal net the dollar strengthened slightly in New York, ruling at $4 86 fc, up for Cables.

Sterling exchange against the Swiss franc and the Dutch florin, however, failed to rally appreciably, and it is sugested that some nervous British capitalists may be ending money to those countries In the commodity markets, cot 40 cents a bale higher, on reports ton stiffened a little, closing 30 to of cold rains in various sections of the south. Rail Group Improves Canadian Paclfio Railway waa sensitive to fluctuations in rails at New York and there waa noticeable pressure against the shares early in the week. With improvement In the railway group at New York. C.P.R. recovered, however, to close on Friday in Toronto at 21, within a smsll fraction of last week's level.

Smflters, the C.P.R. subsidiary, Is quoted at 95, unchanged for the week. Ford of Canada has advanced from 17 to 174. Massey Harrls Is quoted at 4. nd Walker'a has risen from 4 last week to S.

following reports of new plana for a Canadian distillery merger Involving the company. Public Interest Grows Oil stocks tackfd the stimulus of rew developments in the mid continent field, although the news that production Is now well behind current demand acted as a strengthening factor In prices of the shares. Oils fluctuated narrowly and trad ing In the Canadian leaders left no I doubt as to the apathy of speculators tnward the group. Marked expansion in public Interest In Issues characterized 'he week's events on the Standard and Mining Exchange and at other mining exchanges. Wrlght Hargreaves was outstand ing with heavy buying following reports of favorable developments at ine property ana at in snows a net gain of approximately 17 cents for the week.

Noranda re New York Stock Market Prices Sales 10.30 100,000 Noon 300,000 Total today SOOOOO Aug. 29, 1930 1,856,000 ri 1974 1074 23 14 4 78 61 4 107 71 15V 116 21 14 74S 34 4 0, 304 66 49 4 39 13 4 214 13 63 41 394 18 19V 8 644 304 17H IV 38S 11 43 4 52 Tl 52 47 194 94 48 36 43 31 64 40 97 29 1SS 1 38 18 42 21 20 8 62 80 64 24 23 69 10 33 2 103 S3 66 4 27 29 IS 2 11 13 6V 8 84 4 3 71 39V 11 44 34 18 179 117 63 37V 4 IV 60 36 73 43 204 10 6 2 4 1 38 18 r.en. Am Tank 4. Gen. Asphalt (2).

Gen. Else. 1.80... Gen. Foods (3l Gen.

Motors (3) Oen. Rly. 8I. (8) Gen. Refract.

(3). Gen. Tbeatr Gillette Gold Dust (2.50) Ooodrlrh Goodyear (3) Graham Palxe Granbv C. M. (1.

Ot. Nor. R. pf. 4 Orlssby Grunow ttershey Choc (6).

Houston Oil Howe Bound (2) Hudaon Motors (1) Hupp Motors Illinois Cent (4) Indian Ref Inland Steel (2.50) lnep Copper Int Rep Trans Int Bus Mach (6). Int Cement (4) Int Comb Eng Int Harvest (2.60) Int Match pfd 4). Int. Nickel Int. P.

a Int. P. a Int. P. a c.

Int. Tel. a T. (2). Johns Manvllts (3) 15 VI 5 4V.

Davldaon Cheem. te). a Hudaon (9) Diamond M. rirug lncorp (4). Dupont lie Ntm.

Eaatman Kod. (5x) rjiton Axle (1 60), El. Auto Lite (6). Elec. Power (1) EL Stor.

Bat. (9). Erie Railway Firestone Tirs (1. Pint N. St.

(2 901 Fiorilielm A (1.50) Pollanabee Bros. Foster Wheeler (1) Foundation Co. Fox Film A (2.90). Freeport Texas (3) 11 19 74 S6S 142 13V 404 40 24 14 67 21 41 61 86 S4 3 1V 28 12 44 19 13 7 1 sDonded to encouraclne reports of England states is appearing operations at the mine, with an ad impressive way I vance from $18.75 last week to $20. Rales In the stock market approximate! 500.000 shares.

United Farmers Protest Increased Apple Rate The TJnrred Farmers of Manitoba are protesting against the increase of the freight rates on bulk apples shipped to the prairie provinces from British Columbia. The effect of such an Increase would be to raise the rate on bulk armies to eousl that on box apple. This would mean an increase of 60 percent. RECORD FINALLY MARRED Until the matches this year at Columbus, George Duncan, veteran British golfer, never had lost a match in competition for the Ryder cno. In 1928 he waa the only mem 21V, 5S 154 I 36 36V 2V 38', 14 224 1444 el 30 4 MS 48 4 104 3V 66 24 4 384 19 4 22 146 VI 67 30 17S 4 144 99V 464 10 4 3V 66 44 24 14 Ons nrominrnt banker, who has just returned from a ten day trip throughout the important cities of the Now F.npland states, declares that it waa the most refreshing trip he hid taken in a long time.

Hs said that on everv hand there is Increased industrial activity. This statement will be belittled hy the average Wall Street man. hilt the greater industrial activity has aPPerd nevertheless and there are hopes that it will spread to other pats of the country with the aprroaeh of the fall season which la being counted upon by Wall Street leaders to furnish an Incentive for an upward movement I in the stock market. SECOND GRADE BONDS For the third this week the marekt for second grade railroad I bonds continued to show strength. This is a source of much encour agtmont to bsnklng houses.

Second grade railroad bonds ari contiderfl and their recent ber of the British team to win a decline whs due largely to the match, defeating; Waiter Hagen. steady supply coming iiom bank SATURDAY, AUG. 29 JAMES RICHARDSON SONS i A I Hif Iw Hock a Dlv. Rats Opes Hun clou it mil Out. 23 i in, Adams Fip.

(1) 14 1Kb 4 Advam a Kumsly 70 Air Keduction (3). 7'80 8u IS 12 44 AllfKhany Corp. 12 12 Allied ctwm. t.l 113 114 113 113', 1 ii IS Allis fhaiilmtrs CI) 24 25 2 21 23 18 Amerada Corp. rj) IS 18 IS 1 H24, 33 Am.

bank 33 120, Amer. Can Mil KS'i S4 Wit 1 36 25', Am. Br. ftlio 2 40 27 51 21 Am. a For.

Pow. 28 28 28 2t'4 1 31 18', AM. let. i3) IB Am. Int.

Corp. 13 13 13 1.1 304, 13', Amer. Looo. (1) 17 04 30 Anwr. Hower 1 35 4 SI1 lib Am.

Radia t.dOl 12 AS 49 Am. Sat. Kaz. Ill 47 514 24 Am bm. a Kef.

2. 31 311, 31 31 31', 11, Am Steel IS 19 15 15 SO 4'i Am. but. Ret. (5) 55 55 95 55 2'Jlt, 15' Am.

Tel. Tel 173 174 172' 173 bt 24 132 1H2', Am. Tol). 112', 113 111 Uin S0, 40S Am. Water Wks.

3 477. 47 47 4714 5W Amer. Woolen a 43 14, Anaconda Cop. 1.50 244, 25 241, 25 II I A roller Uanleis 9 IV i 10 4 I', Armour 4 Co 11, 11, 11, 1', nil 2W 16V, A Dry Good, 18 10', IB 1 203 132 Atch. T.

SF. 10 136' 13T itj 13 137! IS 120 7S At. roan Una Tj 8 2ft At. Uu.f IS 23 U'i Atlantic Ref. 16 17 15 17 4 4 101 Auburn Aulo( 4x1.

139 13 US 139 IS 6V, 3 Pel. 3S 3s, 3 3 ail 271, I', Ba.dwin Ico 13v, 17 4 43S Bait. 4 Utllo 1 5 4 41 45 4 4 1 144 9 Barmdall il, 21. 2'. 4 234 Bendlx Avlat.

23', 23', 234 23V 4 464 314 Beet Co. i2 4u4 404 40 40 ail 70S 344 Betn. Steel (2 404 41S 40H 41V 4, 13 20 Brhn Alum. (1.50) 37S .18 37S 31 74 47 Borden Co. (3 584 524 38't, 9IH 30 it 14'4 Borg Warner (11 22V Mfg.

(1.50) 13 13S 134 134 Mi itdS 934 Broukln M. T. (4. 57 67 4 97 974 4 St 121 Brookijn U. O.

I)J 112 684 23S Byeri, A. 32S 32H 32S 32S 4 53 US 45 304 5 40 4 204 1314 514 52 4 21 4 104 74 94 4 46 4 84 1.1 2'. 27 27 34 4 45 4 23 4 69 4 23 4 33V 144 25 4 12', 170 133 32 4 111S 95 49S. 204, JOS 1Vj 12 14S 10 41 64 109S 024 62 4 MS 55 S3 30 4 35', 9'. 24 84 a Calif.

Parking (J). Calumet a Hecla C. D. (imger A. 3 Can.

Pac. Kly. 1 25 Case Threin. (Si. Caterpillar T.

13) Cerro Pasco (1) Certain. T. Prod. Chesapemka C. 13) Chea.

a O. t2 50). C. M. 4 St.

P. cm. a st p. pfd. C.

a Nor'weit (4) T. Pac. (4) Child! Co Chryeler (1) Coca Cola (T) Colo. Fuel a Iron Col. Carbon (9).

Columbia Ou (2) Col. Grapho. (96) Comm. Bolv. (1).

C'wealth 8. (40) Conaoleum N. (1) Cona. Oaa (4) Cont. can.

(2 50). Cont. Oil of D. Cont. Bharea Corn P.

Ref. (3x Cnicible Bteel fudihy Pack. (4). Curtlea Wright Curtlaa W. 20 65 MS 64 6 4 nil 35 204 214 64 VI 5 4 IV 22 4 15S 15 5 9 mi 34H 36 364 84 24 4 I4V 37 3H IS 194 194 224 22 144 4 146 4 i 14 67 67 fill 30 30 4 84 17 17 4.

nil 84 14 14S 94S St 48 48 4 nil 10s 104 4 34 344 ft ti 40 40 2 2 nil 4 4 44 nil US 11 19 74 4 MS 144 4 13S 40 40 19 74 864 142 13V 40 40 34 14 11 111 19 744 86'I 144 4 14 13 40 40ij 95 18 17 99 26 10 24 8 14 26 6T 6T 8T nil 21 21 21 41 41 41 51 90 51 36 36 45 34 34 34 nil 2 2 2 19 4 1V 19 4 4 4 28 28 28', 13 12 124 41 2 11 S3 35 35 3 98 44 44 44 1 19 19 19 all 13 13 13 17 1 nil 38 3V 38V 38 3 3 3 34 nil 40 40 40 40 8 6 6 6 nil 21 21 21 147 147 147 147', 32 IS 1 1 1 37 38 37 38 46 46 46, 46 j. 13 13 13 13 4 2 3 29 29 284 62 62 51 52 il in Low lt31 45 25 24 10 IS 2 I 15V, It, 31V, 14S 2 25 37. 13V, 35 IS 87 66 61 91V 37 65', 304 63 4 54 404 21 i 111 43 4 2 61 1, 214 10 17. 314 17', 103 10s 26 42 24 36 18 65 4 15 8 40 30 10 83 39 55 4 18 50V 264. 132 85 44 132 20U 67 a 4A 94 93 14 6 217 139 90 56 61) 30 19 4 7 66 31 39 25 64 11 80', 19 4 64 16 13 27 71 58 11 27 24 97 19 10', 25 64 6 42 69 30 62 33 20 11 63 10V 23 11 19 12 94 109 17 65 2o 8 51 92 21 21 54 99 17 59 18 11 75 72 26S 206 4 38 28 31V 7 67 37 77 37 36 20S 152 31 76 8 48 1 l.VM; 36 107 26 8 72i 106 80S 16 71 21 6V 3e) 37 6 124 72 28 8 12 11 60 6 6 10 40 1 24 38 14 9 7 12 4 44 4 10 6 4 3 67 7 23V 14 59 4 31 30 17 8 25 14 18 29 7 28 4 39 43 14 136 20 13 16 4 48 25 24 19 13 104 83 19 1 9 96 14 20 54 14 37 4 66 5 Tellow Trurk a Wall Street Day By Day By CHARLES W.

STORM Editor, Newi Service of Wall Street NEW YORK, Aug. 29 A stronger undertone prevailed In the stock market, Friday, closing prices showing net gains of from one to nearly three points in the pivotal stocks. Improvement was due not only to speculative short covering, but to further support coming from banking interests and those important operators who have been identified prominently with the bull side. The better tone In the market is due to more optimistic or rather a less pessimistic view taken by bankers regarding the domestic business and International financial situations. The better feeling with regard to the international situation grows out of the proposed credit of $400.

000,000 to be extended to Great Britain bv the United States and France. The loan is expected to eliminate the British financia. situation as a depressing Influence on the stock market. MORE DOMESTIC ACTIVITY Bankers state there are less clouds on the business horizon and that industrial activity in the New lng institutions out of town and estates, whose executives were worried because of the downward movement. The upturn this week In the second grade bonds is coming from Investors, who have been attracted by the high yields.

BOND 8YNDICATE that the market for sceond grad? bonds could be materially Improved If ways and means wer'e adopted for the purchase of the bonds from the present holders snd the securities redistributed. Rumors were current in the Street late Friday that a big syndicate would be formed to purchase a Large amount of these second grade bonds with a view to distributing them to Investors. The placing of these bonds with Investors would correct the situation existing for those securities and would also remove one depressing influence on the stock market. The redistribution of the second grade railroad bonds pressing for sale would also have a beneficial effect on the asset position of the banking institutions throughout the country, which have them In their portfolios. FAVORABLE NEWS COMING The Street was In a better frame of mind todsy and many encouraging reports were in circulation relative to the appearance of favor ible news.

One story had It that there would be a favorable announcement from Washington on Monday or Tuesday. Another report stated that the railroads would be, given some relief in December. There were no details as to what of bankers snd Washington executives held on Thursday. DANFORTH IN TOWN "Bill" Danforth, one of the recognized leaders on tbe constructive' side of the market, was reported to be In the citv. Mr.

Danforth is said to be sharing the confidence of one of the Icrnest banking in inn. In lUm ,1 Kat his position on the long side of the marekt is based on the information obtained from that source. Friends of Mr Danforth continued, to reiterate that be wu Plus Extras 3 Stock Dividend Osll money, IM percent I (Continued) Kans. city Sou. (2) Kayser, Julius (1).

14 fprmgdeld 2 KeUey Hacs Kelvlnator 10 Kennecott Cop. (1) 17 Hreegc, 8. 8. d.601 28 Lambert Co. lehlh Val.

(2 50) LIS. W. 14x1. Liquid Carb. (31 Loewa inc.

Loose W. 2.60xj. Lorlllard Tub. Louis, a N. (5) Ma, Trucks 1S1.

Magma Cop. (li. Merlin Rock. (21. Malhle.ion Al.

121. May It. St. (2 501 MrKiesport (4xl Miami Mlse. Kan, Tex.

Mo. Pacific Mont. Ward Mulll.ia Mfg Murray Corp IS Nash Motors 23 Nr. Bellaa Hess Nat. Biscuit 12.80) 9S Nat.

C. Reg. A 28 r. Prod. 2 60 34 National Lead (5) Nat.

Pow. a Lt. 1 24 N.T. Central (61.. 714 N.r.

chl. a St.L.. New Haven (6) Nevada Cop. Norf. a Wet.

(10) North Amer. Co. ao'i Nonhern Pac. (8). Ohio oil 12 Otl Elevator 2.50.

3714 Owens Bottle (2i. rag. nil a El. (2) Packard Motor 40. Para, publlx Patlno Mines Penlck a Ford (I) Penn (3) Phillips Pete Phtl a Reading Pierce Arrow Proc a Qam (2 40) Ber N.J.

(3.40). Pullman I no (41 Purs Oil Radio Corp Orph Reading (4) Rem Rand Reo Motor (.40) Repub. Steel Co. Reynolds Tob. B.

I. Richfield Oil Royal Dut. Oil 1.34 Rafewar Stores (3) St. Jos. Lead (1).

ft. L. a San. Fr. St.

Louis a 8 W. Savage Arms (1), Schulte Stores Sears Roebuck 2.50 Knell Union Oil Simmons Co. Slmms Pete Sinclair oil Skelly Oil Sou. Cal. Edison 3 South Pacific (6) 8.

Porto Rico S. Southern Rlv Stan. Brands (1 201 Stan. c. a El.

3 50 Stan. Oil Cal. 2 50 Stan. Ol! N.J. (Ix) Bocony Vacuum Stewart Warner Stone a Web.

(2. Studebaker (1.20.). Texas Corp. (2) Tex. Oulf Sul.

(3). Tex. Pacific Land. Thsrmold Co Tlmken 2 Transam. C.

(40). Trlconttnentat C. I'nderwood I. (4) U. Carbide (2.60).

U. Oil of Cal. (2) Union Pacific (10) United ATrcraft United Carbon V. C. of Del.

(73) United Cigar United Fruit (4) United Gas (1.20). U.S. Ind. Alt U.S. Pipe (2) U.S.

Realty (1) U.S. Rubber U.S. Steel (4) Ut. Pr. (3orl0t 67 57 6 13 15 7 14 3 Worthlngton Pump 46 Wrlgley (41 NEW YORK, exchanges firm 4 85; France, 5.22 Belgium Higt) Low Close Net Chge.

25 14 14 14 2 2 2 nil 8 as 64 4 10 10 10 nil 18 17 17V 4 28 28 28 16 154 16 I 1 31V 31 69 69 69 69 nil 39 7 87 S7V 34 60 4 50 90 604 0V 16V 17 16 17 63 294 13 13 4 13 nil 17 23 33 33 33 33 nil 68 69 '4 68 69 I 14 6 11 184 184 18 18 it 31 21V 21 21 nil 32 32 32 33 lv 10 10 10 10 98 28 34 24 71 I 70 12 37 46 46 46 6 6 6V 34 23V, 34 37' jf 39 40 39 9 9 7 1 63 83 81 61 81 30 30 30 I 9 20S 20 20 15 15 15 V' 8 3 5 13 13 13 49 49 49 1 1 1 34 35 25 66 66 66 15 13 15 7 7 91 51 17s 17s 143s 13 22 33 4 4V 99 96 39 29 34 36 30 30 89 90 23 33 Ti Vanadium 38 38 3 Ward Baklne 4i Warner B. Pic. 10 narei Bros. (2) us West Maryland Western Union 112'i 1124 West. Air Br.

(2) 23 23 westing. El. 66 White Motor 3 Willys Overland 84 4, Woolworth (2 40) 14 IS 70', 70S 71 46 ,2 38 Toungst'n 8 A 3 10.30 100,000. 11.30 300.000. Total cales 600,000.

Plus extras, a Stock dividend. MV 25 all 6 58S 58 28 28 4 34 34 nil 104 33 35 71 71 1 23 55 VI 8 nil 158 4 6 70 33 13 13 nil 37 37 87 8 15 11 11 11 43 44 73 73 4 12 13 25 26 19 4 19 'i 64 64 4 41 41 40 41 19, 19V 10 10 29 24 16 17 27 17 35 35 10 10 43 73 12V 29 19 64 40 40S 19 int. 29 16 2T 35 10 7 81 17 143 4 28 4 22 4 59 29 20 89 23 38 16 1124 23 65 14 70 4 45 71 46 6 25 10 37 40 9 7 12 63 81 3014 9 30 15 65 7 8 1 25 66 13V 14 13 13 8 87 6 15 11 7 44 73 13 261 19 64 41 4 40 19 10 29 17 27 35 10 4 31 7 4 7 42 61 174 1(3 4 28V 16 23 4 55 29 34 30 15 13 90 1 23 3 4 10 1 17 11 1134 8 1 69 1 14 3 nil 70S 46 72 8 42 Orvie Bros and Co. We suggest that funds for semi speculative purposes be used to purchase sound stocks in part at current market. 1 i oi'w reiiiauiucr uii a acme uuwn It has been generally recognized avauaDie oy dbuhcti anu investment, iiuubvs Edward B.

Smith cl Co. Should the market continue to exhibit resistance for several cays we would consider that better prices logically should result. Morrison and Townsend The market is In a position where with a little favorable news It could make fair headway on the upside. Frazier Jelke and Co. From a trading standpoint, we continue to favor the buying side.

Ontario Gold Output Shows Big Increase TORONTO, Aug. 29 Value of Ontar mineral output for the first six months of 1931 shows a 12.4 p.c. decrease over the same period last year, the half yearly report of the provincial department of mines shows. At the same time, gold production of the province teached the record total of $20,608,195. Production to the end of June this vear amounted to $50 997,740.

as compared with $58. 236,562 for the corresponding period of 1930 Metals decreased from $43,500,000 to $38 300,000. a 1 'showed a sight decline, while (structural materials and clay pro ducts dropped from $10,500,000 to I $8 500,000. the announcement from Washing ton would be, but It is believed it at I will be the result of the meeting 1 0TK LXCa1Us6 Aug. 29 Foreign Great Britain, 3 92 3 32; Italy, IS.94'4.; Germany, 23.73; Montreal.

99.68V bullish and looked for the market to get out of Its present rut srotind Lbor Day. The buying of stocks is reported to be better thnn the selUr; and this accounts for the stability of the pivotal stocks around current levels. PRICE ACTION ON MINE MART IS STRONGER Several Fairly Subttantial Are Mad by Higher' Priced TOhONTO, Aug. 29 Price action on the Standard Stock and Mining exchange in today's brief session had a deflflnltely stronger tono with sevexal fairly substantial gains in evidence among higher pi iced Issues on end. Major portion of the list quiet, but firm.

Noranda was again under accumulation, opening above Ml), and closing with a gain of 50 cents at S20.S0. International Nickel atrengthened 25 to $13.40, and other base metals were steady in dull turnover. Dome came in for renewed demand, and finished up 30 at $12.10. and Eldorado sold higher at $1 49. Teck Hughea ensed to $6.20 in light sales and Wright Hargreaves dipred a couple to $3.13.

Among the cheaper golds Ventures was up 4 to 65, and Macassa, Siscoe, Moffatt Hali, MeLeod River and Dominion Exploreis gained a cent or so apiece. Chemical Research was briskly traded and sold up 25 cents at $3 i at the close. Acme Gas turned easy to end off a cent Other oils were traded to reduced volume. Toronto Mines (Bingham McKay, Ltd.) Abana lb Acme Oil 19 19 1 Aconda 1 1 1 AJax 130 130 130 Amulet 18 19 18 Arno 2 2 3 Assoc. Oil.

4 4b Brownlee 3 4 3 Barry 12V 12s 12 Base Metal 101b Btthurrt 2 2 3 Rldgood 5 4V 8 Big 20b A. Oil Bunker Hill 2Vb BohjO 4 B.C. 25b Calmont O. 5a Chem. Res.

280 Clerlcy 3 Columarlo. 11 Com. wealth 6h Dom. 13 Pome ...1195 1710 lln Eldorado 144 150 144 Fal'brtdge 110b Foot Hill Gran. Ryn.

12ob H. Oil a O. 85a Holllnaer 615 613 815 H. Gold 34 34 84 Oslsko Pen. Pete.

P. Oreille. Peterson C. Premier Royalite Ritchie Rlbazo 4 San Anton. 14 15 Sherritt 57 60 Siscoe Sudbury Svlvanlta fashota Towasmae 56 40b 77 14 39 Tk.

Hugnei 62 Tr. Tukon. 112b Ventures 60 VlDond 69b 3 4 77 14 39 25 65 W. A. a M.

130 Wr. 316 320 27 1 70 68 3 4 56 66 27 19 Close Salts is 2100 1 1000 130 100 19 200 i 2 100 8 12400 12 2000 i '2 2000 6V 25900 4 io66 291 1320 2 90 11 500 IS 13600 1210 290 147 6000 615 "SO 34 4004 H. B. 80b Imp. Oil Int.

Nickel. 1320 1351 1320 1340 Int Pete .1290 120 1290 1290 Kirk. Lake. 82 83 63 63 Koot. Flctr Int Nickel of Can 13 13 L.

Shore ..2750 2765 2750 2765 Moss Mln. 41V 1 '1 41 Macassa .60 63 60 81 Man. Basin 2a Mclntyre .3129 2123 3126 3133 Mln. 178b Mof. Hall.

22 24 21 32 Murphy 3 3 3 3 Newbec 3 3 3 3 NlpUllng 150 IV) 150 Noranda .2000 2090 2000 20X5 Nor. 30 30 30 30 Nordon C. 22 23 21 21 9D 4 70 70 lb 59 55 sooa 30O 280 3 3 14 13 70 83 3 4 14 14 57 60 76 13 39 (20 79 14 39 28 313 S15 27 19 190 10 800 13 120 90O0 6000 "io S4500 200 1500 400 2950 2500 350 7000 25 '260 1200 4500 lono 115 100 '550 5900 500 360 1290 Gold Holdings In U.S. Will Top Five Billion Mark NEW YORK, Aug. 29 The pockets of Uncle Sam soon will bulge with mors than $5,000,000,000 In gold.

A survey of the gold situation today showed that lt will be only a matter of a short time before gold holdings in the United 8tates will top the five billion mark for the first time in the history of any nation. The gold reserve on Aug. 26 amounted to $4,992,000,000, while impending shipments from South America will Increase this amount. A shipment of $4,225,000 il being sent to New York from Argentina on the steamer Western Price, and Uruguay plans to send $5,000, 000. In addition receplt of $965.

000 from Mexico was reported today by the Federal Reserve bank of New York. Dow Jones Averages SO Industrials 140.78, up 2.13. 20 Rails 68.35, up 0.45. 20 Utilities 67.84, up 0.66. New York Curb Alu Am Am Can (Oeler, Hammond a Na Co.

of Cynamid B. Super Mareonl Cities Service Kiec. Bond Ford ot Canada Kord of England. Gulf Oil Humble Oil Imperial Oil Int. Petroleum Niagara a Hud.

atui Motors gt Oil of Indiana August 2V, open niB 128 7 11 2 10 37 18 10U, United Light 19 l.ll 7 11 10 37 19 nton) 1931. Low 127 7 11 10 37 18 65 64. 13 12b 10 10 10 12 Close 131 7 11 3 10 87 19 10 65 63 13 13a 10 12 27 1 FAIL TO MATERIALIZE MEXICO CITY, Aug. 29 Predictions that the silver peso would fall to Its intrinsic metallic value of eight and a fraction the dollar as the result of recent reforms In the Mexican monetary lnw have failed to materialise, a month after the reforms took effect, LONDON, Aug. 29 The Bank of England today exported 2,000 In sovereigns.

Bar silver 12s 13 16d ounce. aBr gold 84s lid. Maney 2 percent Discount r.ves: Short bills. 4's to 4'4 percent; rthree months' bills, to 5 16 percent. GRAF PREPARES FOR SOUTH AMERICAN TRIP FRIS1DRICHSAFEN.

Aug. 29 rmany'a globe trotting airship. I the Graf Zeppelin, tugged at her I mooring mast today In readiness i for a start tonight on her first 1 non stop cruise to South America. Dr. Hugo Eckener will take iher aloft about 11 p.m.

weather I permitting, and will set a course for Pernambuco. Brazil. There will i he 45 passeng'rs aboard, and they will paving $1000 each for a 1 rtde of about 5000 miles. The lilt oa the first trip was $2,500. MONTREAL LIST IS FAIRLY FIRM BUT IRREGULAR Bank of Montreal Slumps Eight Points and Closes Weak MONTREAL, Aug.

29 Security prices registered a mixed trend at the close of the short session on the Montreal Stock exchange today. Apart from a loss of 8 points In Bank of Montreal shares, there was little of note in the transections. Sales volume was small snd the range of stocks traded was narrow. Bank of Montreal showed an early weakness, dropping to 240 for a loss of 8 points over the previous board lot sale. Otherwise the list waa fairly Arm.

Nickel advanced steadily throughout the morning, showing a net gain of at 13 when the market closed. Brazilian, another leader, was also a little stronger, closing at up net. Canadian Pacific moved within a narrow range and closed at 20V off H. Montreal Power made a belated appearance just before the close, off Vi at 47. Other power Issues were stronger, with the exception of Canada Northern Power, which dropped off at 2m.

Calgary Power was firm at 140, yesterday's closing figure, Quebec Power was steady at 81, and Power Corporation was unchanged at 42. St, Lawrence Corporation preferred registered a small gain of at 4 Massey Harris moved up hi at 4. and Eastern Dairies waa unchanged at 23. Royal Bank of Canada was unchanged at 237. Montreal Stocks (MeOougall a Cowans) Opes Ht(h Low Close Abltlbl 3 3 1 3 Atlantlo 8uar 22 Braslllan Trac.

17 17 17 17 Bell Telephone 135 136 136 136 B.C. Power A 33 33 35 35 B.C. Power 10 BC. Packers 1 Brack Silk Mills. 5 Prod.

20 Can. Bronis 22 33 33 32 Can. Car a Fdry. 10 Can. Car, pfd.

19 an. Cement pfd 84 Can, Cement 84 Can. .80 60 80 Can. Oirpsum 7 Can. Ind.

Alcohol 2 3 3 3 Can. W. a C. A 60b Can. w.

c. 2b Can Pac RlT 21 2t 30 31 Cockahutt Plow 5 5 5 Cons Mln a Eoieit 94 96 4 93 Dom Bridie 33 33 33 33 Dominion Textile ,70 nurd Chaa 35 25 25 25 Hamilton Bridge 7 7 7 7 Lake of the Wda. 7 Massey Hams 4 4 4 4 McColl Frotitenae 1814 Mon. H. a 471, 4744 47 14 47 National Brew.

27 37 37 37 Nat. Steel Car 17 Ogilvle Flour ISO Price Bros 37 14 Power Corp 42 42 42 43 Quebec Pwr 31 31 31 31 Shawlnlian 40 40 40 40 Steel of Canada. 26 29 28 39 Steel of Can. pfd. 32 Wpf.

Blec 10 Wpf Else pfd 53 Montreal Weekly Stocks (McDoueall A Cowans) Weekly high and low for week sndlnt August 29, 1931: Open Hlrh Low Close Abltlbl 4 4 3 3 Abltlbl, pfd 13 13 12 12 Atlantic Sut ar 22 22 22 22 Braslllan Trac. 17 18 17 17 Bell Telephone 135 136 135 136 B.C. Power A 35 34 35 35 B. C. Power 9 10 9 10 BC.

Packers 1 1 1 1 Brack Silk Mills. 8 6 8 5 Bids. Pd. N.V. A 32 22 20 20 Can.

B.onie 33 33 31 22 Caa. Car a Fdy. 10 10 10 10 Can. Car a F. p.

18 19 18 19 Canada Cement 9 Can. Cement pfd. 85 85)4 84 Canada P. 0 S5 60 SO 4. 1.

Gypsum 7 7 7 7 Can. I. Alcohol. 2 2 2 2 w. a 6i si eob C.

W. a C. 31 21 20 20UB C. P. Railway 31 21 30 21 Cockahutt Plow.

6s 6 SVa 3 C. M. a Smelting 93 95 94 95 Dominion Brldse 34 34 33 33 Dominion 98 98 98 98 Dominion Textile 67)4 70 67 70 Ourd. Cras 25 26 25 25 Hamilton Brldse 74 7 7 7 Int. Nickel, Caa.

13 13 12 13 Int. Pwr. pfd. ..61 81 61 81 Lake of Woods. 7 7 7 7 Massey Harris 4 4 4 4 McColl Frontenae 13 13 18 Mont.

LHP. ..4 46 46 48 47 Nat. Brew 27 27 37 37 Nat. Steel Car. IS 18 17 17 Otllvle Flour .34..

ISO 185 ISO 188 Penmana Ltd. ,.36 38 35 18 Price Bros 37 37 37 37 Power Corp. 8 43 43 43 Quebec Power 33 32 31 31 South Can. Pow. 39 29 28 28 Shawlnlian 41 41 40 40 Steel of Canada.

28 28 28 29), Steel of Caa pfd. 33 33 31 31 Wpf. Elec 10 11 10 10 Wu(. Elec. pfd.

S3 53 58 83 Montreal Sales (McDoubgall Cowans) Aug. 29, 1931. 10 e'ClocK Sales Abltlbl 16 at 3. Can. P.

a P. 223 at .60. Braslllan Trac. 5 at 17i, 125 at 17 Bell Telephone 30 at 136. 10 at 13 South Canada 40 at 28.

1 at 28. Eastern Dairies 35 at 23. Hamilton Bridge 10 at 17. CP 40 at 31. 40 at 30, 10 at 21 Cockahutt Plow at 3.

Can. Cement 10 at 9. Dom. Bridge 15 st 33, 10 at 33. Dom.

I. a Steel 15 at 3. Hamilton Bridge 30 al 7. Can. Wire a Cable A 60b.

xd. Can. Wire a Cable id 20b. Oufd 10 at 25. Can.

Ind. Alcohol 10 at 3. Int. Nickel 195 st 13. 323 at 13.

B.C. Power A 10 at 35. Massey Harris 6 at 4. Montreal Power 15 at 47. 135 47V 10 st 47 V.

53 47, 40 st 47 110 at 47. National Brew 25 at 37. Power Corp. 135 at 42. Quebec Power 140 at 31.

Shawlnlltan 25 at 40, 2 at 40, 1 st 40, 15 at 40. Steel of Canada 15 at 28, 10 at 29 Smelters 10 at 94 4, 20 at 15. Montreal Curb (Oeler, Hammond A Nanton) Aug. 29. 1931.

Open High Low Close Assoc. Oil A Ou 6 Brit. Amer. 12 13 11 Plat. Corp.

9 Dryden 8 Imperial Oil 13 13 13 Imperial Tob. 4 Int. Pete 13 13 Int. imiltlea 8 Noranda 3000 2050 3000 Pass Hersey 79 Service Bin 10 10 Slseoe Oold 66 56 35 Moss Mines 41 Eldorado 149 Oem Lake 8 1 Perfection 80 75 6 11 3 13 2040 79 3" 41 149 NEGOTIATIONS ENDED FOR LOAN TO BRITAIN NEW YORK. Aug.

J. P. Mo gin snd announced Friday night that negotiations for the extension of a S40O.00O.0O0 Franco Americfin credit to the Erltlsh government had been completed, and that the credit become effective as of today. BUSINESS Oeler, Hammond a Wall 1BDLLEMS Delaware and Hudaon July net operating income $379,031 vs. $486,030 is July 1930: seven months against 33,835,330, Nashville, Chat, and St.

Louie SI July net operating Income 847,629 against $367,813 in July 1930: seven months $533,730 against $1,846,201. Swift and Co. declared regular quarterly dividend of 60 cents, payable Oct. 1 to stock record Sept. 10.

org Warner declared regular quarterly dividend of 25 cents on common and $1.76 on preferred, payable Oct. 1 to stock record Sept. 15. Rio Qrands Oil, six months ended June 80, net loss $1,997,892 after depreciation, depletion, against net profit $3,232,803 In first half 1930; for quarter ended June 80. net loss $2,058.

(88 against net profit $60,691 In preceding quarter. National Cssh Register Co. to acquire cash register business ot Remington Anns Co. subject to approval of court, terms of sale or consideration Involved not Nstlonsl Power and Light, In 13 months June 80. earned $1.71 a common ahare against $3.24 a share In previous 13 months.

Warner Bros. Pictures and First National Studios to reopen Sept. 8: Columbia Pictures planning production of 26 feature pictures and 16 full length westerns during next lt months. Vancouver Mines (Ineham McKay Ltd.) Aug. 28, Nantonl 1930.

Mines Big Missouri 21 to 23. Cotton Belt 20a. Oeorge Copper 40b. Knotenay King 1. National Silver lb.

Oregon Copper 3a. Premier Border b. Pioneer Oold 235 to 240. Porter Idaho 6a. Premier 57a.

Reeves Macdonald 37a. Reno Oold 24 to 26. Bilvercul) b. Snowflaka 4t to 1. Woodbine to 1.

Lorne Oold 10 to 11 Oils A. P. Consolidated 7 to 7. Amalgamated 5. Commonwealth S.

Faet Crest 10 to 12. Fabyan Home Oil 43b. Imperial 13.26b. Mayland 18 to 20. Mercury 10 to 13.

Merland 6b. MeDotignll Segur new 2 to 3 Nordon Corporation 31 to 23. BANK STOCKS Saturday, A must 29. 1931. Bank of Commerce 201.

Dominion Bank 208. Imperial Bank 205, Bank of Montreal 240. Bank of Nova Scotia 305. Royal Bank 237. Bank of Toronto 215.

HURON AND ERIE DECLARES DIVIDEND The Huron and Erie Mortgage corporation has declared a dividend of 2 percent for the quarter ending September 30, 1931, being at the rate of 8 p.c. per annum. It Is payable at the corporation's office In London, on and after Oct. 1, 1931, to shareholders of record on Sept. 15, 1931.

IlL Kembarsi Montreal Stock Esehange Montreal Curb Market Winnipeg Stock Exchange Winnipeg Oraln Exenangs Street RALLY CARRIES ISSUES HIGHER ON TORONTO EX. Ford cf Canada Chief Factor in the Upturn 8 Direct private wires from all offices to Montreal, New York and Chicago. 7 12 13 13 James Richardson Sons 387 MAIN STREET ESTABLISHED 1857 WINNIPEG EXECUTIVE OmCBS: ORAIN EXCHANGE PHONE 24S31 Other O'fteaet Tsrsnts, Kingston, Moose Jaw, Saakatoon, Calgary, Edmonton jKotfftrTtt I ortut Why Make a Will? No one is compelled to do so, but almost everyone realizes the folly of leaving ai estate (large or small) to be disposed without specific direction. More important even than the decision to make a Will, is the plan of tbe Wilt itself, if your estate is to yield the utmost to the beneficiaries. We can give you the benefit of a wide and varied experience when planning your Will.

Why not consult us? The Northern Trusts Company CALGARY WINNIPEG REGINA Investment Prospects for PACE HERSEY Hera is a stock that is earning Its dividend In a time of businsss depression. Investors will want to read the exhaustive analysis of the company In this week's issue of The Financial Post. Ons ef a series on stock market leaders of tomorrow. Important News for Investors In Steel ef Csnsda, Gypium. Imperial Oil, Csnsda Biscuit, Textile stocks, Massey Harrls, etc.

23 TORONTO, Aug. 2ft A rally prevailed on the Toronto Stock exchange this morning; right from the outset today that carried prices, especially Interllsted, considerable above their previous closes. Ford of Canada waa tb chief actor In the upturn, gaining well over a point to close around 19. Others In the same group added from small fractlnos to as high as a point on their closes Friday. Oils, although so meagerly traded In that they did not nave much) chance of gaining ground, remained Arm.

Steels and Canadian shares, including higher priced issues, alt shared In the better feeling. Toronto Stocks Jamas Riotiardaon sad F. N. Burt Can Bud Brew Canada Bread Can Dredging Can Bakeries Can Vnlegari Can Oen Kleo Canadian Oil Cona Bakeries Cona Industries Consumers Oaa Dominion Stores Durant of Canada Ford of Can A' Frost Steel and Goodyear ot Can. Oypsura A Ala Hiram Walker Kelvnlator of Can Loblaw 'A' Maple Leaf Maple laf pfd Ont Equitable Vhoto Engravers Berv Sta Equip Standard Paving Supef Test Pets Waterloo Mfg Waal Can Flour Aug.

Open 44 llb 40 37b 7a 18b 219b 13a 9 15 183b 23 4b 17 3o 95 7 6 SB 12 6a 15b, 13 23 10b 6 18b 3b 6b High 34 18 33 19 one 39. 1931. Low Close 34 34 li 40 37b 7a 18b 319b 1 33 17 10 a 9 13W 1S3D 4 19 5b 950 l' 5 5b 12 6s. 150 13 53 10., 18 3b MAJORITY OF MINES SOFTER AT VANCOUVER, VANCOUVER. B.C., Aug.

2 Continued activity In Lorne Oold failed to advance prices in the mines division on the Vancouver stock exchange Friday. The ma Jorlty of the mines were softer, Lorne held firm at 11 cents, Ploe 1' neer eased to 2.84, off 3 cents. Premier at 62 cents was easier. Oils, after several days of lists leesness and softness In prices, reacted today and active Issues close ed slightly higher. Mercury advanced to 13 cents) A.P.

Con. was up 1 at 8 GREAT BEAR LAKE EXCLUSIVE Further first hand Independent news of Csnada's promising new mining field Is given exclusively to resders in this week's NORTHERN MINER "It ptys to retd Th Miner $3 a year At Leading Dealers PUBLISHED AT TORONTO STOCKS BONDS GRAIN THIS WEEK IN The Financial Post TEN CENTS For sale todsy st all leading newt stands 153 UNIVERSITY TORONTO 1070 BLEURY MONTREAL 'ft.