The Winnipeg Tribune 29 August 1931 › Page 11
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OFFERINGS ARE PLENTIFUL WITH LITTLE SUPPORT Practically Nothing Doing In Way of Sales for Export Trade LIVERPOOL PRICES Liverpool wheat futueei doted 2 lower per cental of 100 , Ibe. With aterling exchange at $4.87 thie figure at a price per , bushel oft Today October ,.. 56V. December 68 March 62 May ... 64! iura market: 487 Yt. 56 59 627. 6V' Spreads Speardt were No. 1 Nor. wheat 12 over the Oct, No. 2 Nor. 4; No. 3 Nor. 9 under) No. 4. 131, under; No. 5, 1ft1 under; No. 6, 19 under; No. 2 cw. oats, 1 under; No. S bar - , ley, under; No. 2 rye, 114 .. under; No. 1 n.w. flax, 1'z under. With an occasional rally the market had a lagging tendency and doted S to H lower. ' There waa practically nothing doing In the way of sales for ex port and plenty of wheat for sale on a! minor upturn. Cable coming on the weak aide affected the market at the start and during the early trading, and - figures settled at levels to H ' under those of the previous close. - With nothing immediately con. " struct!? oa the horison, and with the sixth Manitoba Free Press crop ranort beta? as expected and a atandoff. It did not call for much in .'the way Of selling to depress Values. Offering came from commission local Ions:, with there being nothing on the support side f e hainnr. them. Observers said that about all the buying in evidence was against bids, there being no feature to the rest of the , purchases. mrsi aavices inui - c.ted that axnort business over - night was negligible. Pit trade had come to a standstill before the passing of the first half - hour, ' Continues Slow " Market action continued slow and uninteresting. A little spurt of buying in the October from one local interest caused a flurry but it simply had the effect of temporarily Increasing the offerings. ' Thereafter, prices sagged and within half an hour of the close, futures were showing net losses tanging from to 4 cent, with trade again virtually at a stand - t.lll. New York advices stated that a 'small Manitoba and hard winter wheat business waa reported overnight, but there was no sign of export Interest locally. The trade that did go on in the pit was unassisted by any operations from outside markets. To - r wards the close there were even ing ud operations prior to tne werk - end. but the trend still seemed to be towards lower levels. J - 'air weather was forecast for the "week - end in the prairie provinces 'but low temperatures were antic ipated. Cash Wheat Cash wheat had no feature and trade was dull throughout the morning. Mills were buyers for top , grades, but only in a limited way. ' Spreads were 14 cent easier in No. 1 Northern, but otherwise were unchanged. The negligible export interest, not unexpected for a week - end market, slowed up business In cash wheat. A similar dull - tone continued in flour. Coarse Grain A little business was worked In 2 CW. oats, but otherwise export interest was at a standstill. Pit trade was not much better. Apart from early outside support in rye, and routine spreading operations, there was a minimum of action during the morning. Price were Inclined to sag in sympathy with wheat, but declines were very mall because of the thin oper ation both way. Local Cash Prices Thus pilots an always the quotation! on cud trains at tot urn oi cionn ine iu - Wheat ClOM No. 1 Northern ..wrM.v 06 No. 3 Northern .Wtt No. 8 Northern 4ft Va No. 4 41 No. d ........ ......a 384 No. . 3(1, Feed ........ .. ,3S Track 3 No. 1 Durum I'd No. 2 Durum A .No. 3 Durum SO 14 No. 1 Tough AO 14 No. Toiirh ,No. Touah 41 No. 1 Smutty 4AU No. 2 Smutty 42 Vi No. S Smutty No. 1 Rejected No. 3 Rejected No. 3 Rejected No. 1 White Spring , No. 2 White Sprint No. 3 White Bprlr.g , No. 1 Alberta Red .. No. 3 Alberta Red . ,No. 3 Alberta Hod. .. 'No. 3 CW (No. 1 CW , . Ex. 1 Feed No. 1 Feed 'No. 3 Feed 37 47 31 19 MS 48', 47 V. 43 V. 41S 3V, 27V4 34 '4 34 33 21 i . Relected 17 Track Flax No. 1 N.W.C No. 3 C W "No. 3 CW. '.Rejected , Track .......... . Barley Malting grades Two Row BIX Row Other No. 3 C W No. 4 CW No. 5 C.W , No. S CW , Track , Rye No. I CW. No. 3 C.W No. 3 C.W , Rej. 3 C.W , Rejected Track 37 H 95 S 78 W TSV4 100 3A4 38 '4 32 Vi r(p 29 2714 33 Vi 31 Vi 31 Vi 28 H 25 'i 34, 31 Prev. ClOM AftH Altt 4i 41 38 '4 3SV 37 Vt ASS 04 47 42, 48 Vi 43 Vi 37 t 47 4'4 A34 AO'a 48 14 4 42 S 40 V 3714 J4'4 24 23 H 17'i 37 H 101 7 7 78 101'. 3,114 3H 33 S 2, 27 32 S 30 30 '4 28 4 20 24 ai Grain Inspection Auauet 38. Wheat 1 Hard, 38: No. 1 Nor.. 108 No. 1 Nor.. 70; No. 3 Nor.. 17: No. 4 8: No. 8. 1; smutty. A; no grade, 34: rejected, 8; 1 dm., 87; 3 dm., 40: 8 dm., 8; rej. durum. 13; smutty durum, 7; 3 White Spring. 1: A.R.W.. 2. Oata 3 C.W., 15: 3 C.W., ; 1 feed, 1; 3 feed. 3: no grade. 1. Barley, alx row. mailing. 8; two row, malting. 1: trebl. 3: 3 C W.. 37: No. 8. I. Rye 1 C.W.. 5; 3 C W.. 8; no grade. 3. Thll Tear Laet Vear Wheat 38 Oats 42 Barley 41 lax Rye Others 938 2.1 132 1 24 1 1113 C.P.R . 2U; C.N.R., 37; N.A.K., J. Liverpool Prices By Canadian rVeaa LIVERPOOL, Aug. 29 The following wheat quotation were supplied by Broomhall, Liverpool, today, all price c.i.f. Liverpool. No. 1 Man. Northern Vancouver shipment, Sept. 69. No. 2 Man. Northers, Atlantic shipment, Sept., 64. 'No. 8 Man. Northern, Atlantic shipment, Sept., 69. Argentine (Baril), 68 lbs.), shipment, Sept., 54. Argentine (Rosafe, 63 lbs.), shipment, Sept., 65. Australian (wheat), shipment, Bept., 67. U.S. No. 2 hard winters, shipment, Sept., 57. South Russian (wheat), shipment, Sept., 63. The above was translated from British weights and currency to Canadian bushel and money at to - da"'e exchange rat between banks wnicn waa 4.87. Grain Opinions fc. J. Bawlt Cannot see any - tning ouiiisn in tne marxet at tne present time. Can only advise buy ing at the bid price for small daily pronts. Jam E. Bennett News from Europe, especially from France, points to a better export demand. 'Thompson McKinnon Co. Wheat Aithoush tnere is no indication of any immediate activity, wheat prices appear to be stabilizing nresent levels and sentiment be. coming more friendly. Coarse grains We continue to favor purchases of all feed grains on setbacks. Bartlett Frasier Co. Wheat We nr. till nf the ODinion that the buy. ing side on declines Is in order, we would certainly adopt an attitude of buying on declines in corn in view of the general situation. We resrard the oat marxel as in a posi tion where declines will encounter broader general Buying interest. W.hh Flat Grain Co. Ltd. Mar ket nnear to be marking time pending developments. Outside trade absent and with grain movement underway, bulges will be difficult to hold. Trading position looks best. New Crop Moves But Farm ers Are Not Marketing Freely Grain prices have held within a narrow range during the week and trade has been somewhat quiet. From Friday to Friday prices de clined 1H to lc The new crop is beginning to move in volume, but report from the country Indicate that farmers are not marketing their wheat freely and hedging pressure from the new crop haa so far had little influence on prices. New wheat la coming in at about 200 cars a day as compared with 1.000 cars at this time last year. This Is mostly Manitoba wheat, harvest being further advanced in this province than In Saskatchewan and AlheHa. The new crop is grading high end the protein content la most satisfactory. Western Canada haa never produced stronger wheat, a large percentage of the samples tested at tne laDoratory oi uie Board of Grain commissioners running over 18 percent protein. Export Situetlofi Unsatisfsctory Russia has thrown the world export situation out of gear by consigning a large quantity of wheat to England on "orders." There are probably six or seven millions of this wheat in ports at any price that can be obtained. It is at any rate being offered very cheap. While No. 1 Nor. Manitoba is quoted at 70c c.i.f. Liverpool, south Russian wheat is quoted at 53'ic, both for September shipment Russia Is also offering wheat to Japan at 39c a bushel and has chartered boats to carry wheat from Odessa to Oriental ports at 11c a bushel, a low enough rate for an 8,000 - mile voyage, lasting over a month. Bradstreets estimates North American shinme.tts for the week at 3..VW.00O bushels. Russian shipments were 5,800.000; Argentine, 1.625.000; Australian, 1,701.000, of which 1.403.000 went to non - European countries. Argentine shipped 48.000 bushels to Japan. China Is a heavy buyer of United States wheat at the Pacific coast and over a score of boata have been chartered to take on wheat cargoes st Portland for immediate shipment for famine relief, 11 Winnipeg Wheat Prices Sag Near Close to End Fractionally Lower THE WINNIPEG EVENING TRIBUNE, SATURDAY, AUGUST 29, 1931 Winnipeg October Wheat SATURDAY, AUG. 29, 1931 e - ea - eaw - varJ( m eamm ::::::: :gf - Charted by Mitchell - Thompson Grain Co., 304 Donald St - Winnipeg Grain Market WHEAT Oct. . . . Dec . . . May ... OATS Oct . Dec May ... BARLEY Oct Dec May FLAX Oct. Doc. May .. RYE Oct. Dec May Open 56 54J, 56H55H ' Vv ! ) Cafe - 28H 27U 29H 32 32 101 101' 324 33", 373, High Low Close 55 541 54'2 55 55i t 5514 594 583,4 584 29V 28' 28'. i - 271 - 271 27' - b 28 29H - 29's - s J2 - 32' i 32' i 33 32',2 32'j - b 34Hb 102 1004 101'4b 102 101 lOl'ab 105'4a 32H 32 32Hb 3334 33'. 33' 2b 37'2 364 37iSl Prev. Last Close Year 55' 88 554 90 59 964 28l4 38 27' 4 39", 297 3H 32', 371, 32' 39H 34?4 45'4 1024 153J4 1024 153'2 1064 32' 53' 4 33'4 56, 37 - 62 U.S. GRAIN MARKET CHICAGO Wheat "rev. Open Hian Low Cloia ctoaa 8.pt. 467 47 46i2 2 47 Dec. 50fi 50? 50 501 s 50H Mar. 5414 5414 53'2 5312 54? May 55?, 56 55(4 55' 4 56 Oat Sept. 21"2 22I - , 211j 21" - 2 21ia Dec. 22 23' 4 2214 22 J, 22's Mar 247. May 25H 26!4 25' 25H 25H Corn Sept. 421 2 42 42H 42H 42' k Dec. 39 39' 2 39 39' , 381 Mar. 41?4 413, May 43li 44Ja 43'2 Wt 43' Rye Sept. 33!. 33U 33 33H 33', Dec. 36'2 37 362 37 36 Mar. 39'2 May 40H 41 ' 40H 40f4 40?I MINNEAPOLIS Wheat Prav. Open Hloh Low Clott Cioi Sept. 591, 59H 58't 584 69'2 Dec. 58' 4 58, 57',4 57', 58i4 May 50V, 60? 58', 58H 601 2 Oat Sept. 221 22' 2 217, zi 22' Dec 23' 231 2 22l4 227 23H Barley Sept. 351 , 351, 331 33 34', Dec. 34' 2 34i, 334 34 34' 2 May 37 37 Rye Sept. 35' - i 35'4 34', 4 34', 4 351 4 Dec. 36?4 37 36 36 36 DOi - UTH FLAX "rv. Open Hign low cioea Ciom Sept. 140'4 142 139 140 140' 2 Dec 140 142'4 140 140', 4 141 Roosevelt Prescribes Cure For Unemployment ALBANY, Aug. 29 Governor Franklin D. Roosevelt, who is regarded as a possible presidential candidate in 1932, - Friday wrote a prescription for New York State unemployment involving a $20,000 - 000 appropriation to be raised by Increased income taxes. The governor told the legislators it was Idle to speculate on what the federal government might do; that New York State must not wait for Washington to come through with definite constructive program. Range of Wheat Prices For Week Narrow in Dull Trade Latest report from Europe are of the weather clearing up after a month of almost incessant rain. Cropa in central and northern Europe have been much damaged. Private reports state that the damacre to wheat In France has been much greater than generally believed. Much wheat is still out in the fields and will not be merchantable. The German wheat and rye crops may be reduced by one - inira rrom earner estimates - ana the Belgium wheat crop is almost a total loss. The cereal crops of Scandinavia have also been much reduced In quality and yield. The potato crops in all these countries have been greatly damaged. Russia Is at present pressing wheat for sale on all importing countries. Hqw long this can be kept up is now the important question for other exporting countries. Broomhall states that reports from Moscow confirm that spring wheat suffered grettly from the long spell of drouth and heat last spring. Winter grains progressed satisfactorily, but 11 days' rain at harvest caused much lodging and harvest has been difficult. Some reports state Russia, with increased acreage, will have as much wheat as last year. Others state the total yield will be considerably less. Official reports confirm reduced acreages sown to wheat in Argentina and Australia and reports from tne u.s. soutn - west indicate a large reduction planned in winter wheat plantings. Feed Grain Situation While the prospects are still for a fairly large corn crop in the United States, spells of extreme heat and grasshopper damage have taken toll and first estimates will have to be revised downwards. North American oats and barley and rye crops are much below average and it is expected that the feeding demand for wheat will be larger than last year. There is foreign enquiry for rye, and there are good prospects that the Canadian visible supply, which has stuck around 9.000,000 bushels for a long period, may be worked off. It is believed that the U.S. has more rye than needed for home requirements. The Italian com cron is partial failure, Roumanian corn crop excellent. The North American flax crops are below average, but Argentina has a large surplus, and Russia had over 7,000,000 acres planted to flax and will probably dump seed on European markets. The crop is. however, late and so far about TRADE SHOWS LITTLE CHANGE IN PAST WEEK Eastern Cities Report Some Improvement in Retail Lines The weekly trade report of the Canadian Credit Men's Trust As - sicatlon, Limited, for week ending Aug. 29, 1931, is as follow: Halifax Wholesale sales, as compared with a similar period last year, average about, 11 V, percent lower In 1U31. The coal and steel Industrie are operating below normal. Saint John Business conditions generally are brighter than last month. The pulpwood situation is better, as the provincial government has reduced stumpug, and a larger cut may be anticipated tills winter. Wholesale business is reasonably satisfactory. Collections, although bad in spots, might be considered generally as fair. Retail trade, as a whole, has not been up to expectations during the past month, although tourist trade has stimulated this phase of business, and the month of August is expected to show up reasonably well. Generally speaking, the whole outlook for Industry in this province is somewhat brighter. Montreal Groceriea in fair devises good sales. Shoe business is although a fair volume is reported; boots and shoes very quiet While clothing orders are reasonably numerous, the actual volume is small, and there is a general tendency to reduce stock. Ladles' wear lines are a little more brisk than formerly, with moderately priced lines In greater demand. Building supplies lines are moving fairly well, and conditions are fairly satisfactory. Structural steel sales are about 30 percent lower than this period lest year. Hard ware and paints very lair. Toronto There seems to be a slight improvement in retail sales Stores are clearing their summer stocks, especially wearing apparel. hats and shoes. Textile mius are reported to be operating very close to capacity. Millinery trade advises aood sales. She business id Keeping up. naroware repuria slight Improvement. Automobile trade generally quiet. Radio trade outlook fair, but not considered as sood as last season. Groceries normal, collections normal ana slow. Winnipeg Wholesale grocery sales considered rainy active, at - thoueh a falling off is reported bv drvsooda houses and clothing lines. Boots and shoes and, rubber footwear quiet. No improvement in hardware and building lines is reported. Automobile sup. plits generally below normal. Retail trade generally slightly below this period last year. Collections generally improving. Rsgina Wholesale groceries fair, with a alight falling off in sales. Drygoods, boots, shoes and weeritiE aooarel quiet. Hardware fair. City and country retail trade quiet. Collection lair. Moose Jaw Wholesale boots and shoes fair, hardware quiet, grocer ies fairly good. Retail grocery trade fair, other lines Inclined to be quiet. Collections slow. Saskatoon Merchants are buy - In? entirely from hand to mouth and will not be in a position to purchase on a large scale. The demand for merchandise is grow. ing smaller, particularly in the country districts. Prospects for trade in Northern Saskatchewan. despite crop conditions, will not be of the best, although It is ex. pected that there will be a steady demana in small quantities. Calaarv This district has ex' perienced a steady slowing up of business in practically all lines, with the possible exception of labor - saving device for the horn Business is better In the larger centres than in the smaller places Collection of accounts by retail merchants are very difficult. Foodstuffs, confectionery, tobacco, drugs and toilet articles maintain tne best volume. With the exception of wholesale and retail grocery lines, business continue fairly quiet, although there would be indications of a slight Improve ment taking place generally. Col. lections also inclined to show signs of improvement Edmonton Drygood quiet, placing orders not extensive. Boots and shoes show some Improvement, wholesalers shipping for immediate requirements only, urocery lines have been showing an improvement for the past two months. Country stocks are low and country customers are buying necessities only. Merchants are dealing almost entirely lor cash. Tne Ioca' lumber market is anected very materially by lack of U.S. export trade. Vancouver Wholesale trade shows some improvement covering seasonable requirements, volume of business, however, is considerably below that of a year ago. Concensus of opinion among whole. salers seems to be tnat Business conditions are now on the upgrade. Collections continue slow. Retail merchants still complain about the poor volume being trans acted at tnis time. Failures Failure under the Bankruptcy act as disclosed by the Canada Gazette as reported by the Canadian Credit Men's Trust Association, Limited, for week ending Aug. 22, 1931, show an increase of 4, figures being 1930 29, and 1931 83. Figures for the year to that date are: 1931 1,326, and 1930 1,218, an increase of 108, or 8.8 percent. GRAIN PORT OF MONTREAL GETS GREAT PRAISE Sir Alexander Cibb Saya It la Moat Efficient In World MONTREAL, Aug. 29 High nraise for Montreal a a grain - handling port was forthcoming Friday from a noted authority, "I think Montreal has the most efficient grain - handling facillti of env port of the word," Sir Alex. ander Gibb, British engineer and expert on the construction and ad ministration or ports, saia ronow - ing a four - hour inspection of the harbor. During that time he saw grain discharged from lake steamers, and from railway cars by the nifchanlcah unloaders and the shakers. He followed the grain through the elevators, walking along miles of conveyors, and saw it. loaded into ocean liners for car - 1,000,000 arres haa been harvested, riage to some foreign port Slight Recovery Features Canadian Markets For Week Marked Increase In Trading Volume at Toronto and r Montreal By THOMAS C. THOMPSON Written for The Canadian Press TORONTO. Aug. 29 Critical financial conditions in Great Britain threw their shadow over the financial situation in Canada this week. Stock market movements were nervous but investment demand showed a definite revival at the end of the week, when it was learned a further large international credit Is planned for Great Britain. Actual price movements of Canadian stocks were governed largely by the fluctuation of th New York list, however. Weekly reports on trade conditions, steel operations, car - loadings and general Industrial activity showed no reel change from last Average Wholesale Prices Maintained For 3 Months Moderate Upward Move ment Looked for by Stan dard Statistics NEW YORK, Aug. 29 Broadly considered, average wholesale prices have been maintained at close to current levels for nearly three months, says the Standard Statis tic Company, of New York, In a current survey, which continues In part: With full allowance for the greater time element required in completing a major depression, we believe that present indecisive fluctuations In commodity prices re present a oroad period of stabiliza tion rrom wmcn a moderate up ward movement snouid ensue. Commodity markets on the wnole are showing relative stabil ity, ana fluctuations, save in two or three exceptional cases, have been confined within narrow limits. Of 40 major commodities, 14 declined prairie Wheat YIELD AVERAGE IS 12 BUSHELS Northern Satkatchewan Haa Beat Crop, Saya Bank of Commerce Report Threshed wheat fields in the three prairie province will yield an approximate average of 12 bushels to the acre, according to the weekly report on crop conditions issued by the Canadian Bank of Commerce. Except in northern Saskatche wan, where it is expected wheat will average about 20 budhels per acre, the bank estimates yields at a dozen bushels or lower. Threshing Is general in Manitoba and cutting approaches completion, ays the report Best crops are in prospect m Northern and Eastern sections of the province. Wheat is generally of a. high protein content ine Dang stares coarse grains at most points are disappointing. Wind and rain storms have In terrupted harvesting In Northern Saskatchewan, but cutting is 50 percent finished in the central area. In the south a few point expect wheat yields up to ten bushels per acre. says the report but in most cases. tne prospects vary from a total failure to the possibility of obtaining seed. Most districts will have sufficient green feed if the frost hold off for two or three week. Alberta prospects for a good crop nave noi Deen materially eirected by nail storms, the bank reports. ine estimated percentage or In crease over the ten - year average for wheat Is 25 percent, oat 23 percent ana oariey 21 percent, early return in the South are disappoint ing. FOUR BODIES FOUND BURIED UNDER GARAGE Virginia Police Led To Spot by Boy Who Saya He Help. ed to Dig Tunnel CLARKSBURG, Va Aug. 29 Four bodies believed those of Chicago widow and her three child renwere unearthed yesterday be neath the cellar floor of the old "garage" built recently by Cornel lus O. Pierson, 45 - year - old corres pondent of matrimonial agencies. The bodies, were tentatively Iden tlfied a those of Mrs. Asta Bulck Icher, and her children. Harrv 12 Greta 14, and Anabel 9, who dis appeared two months ago. Chance led to the discovery Finding trunks containing clothing 01 uie missing persons, uncovering bloodstains here and there in the so - called garage, and finding what they were told was human hair. police dug in the ground outside the place most of the day. They had abandoned thel search, Chief of Police C. O. Duck worth said, when a boy whose name he did not reveal, told him he had helped Pieraan dig a tun nel in the cellar of the place. Police descended Into the cramped cellar. Within a few moments their picks and shovels uncovered a woman's body. Within an hour the bodies of the three children were found, hidden beneath the dirt and slime of a sewer. Pierson was not present. He was In the city Jail, aware that search was going on. and is alleged to have confessed murdering the four. Warrants charging mm wun kidnapping and manslaughter were on their wav here trom ram rtiae, Ills., the woman s home. ATHLETES BECOME PRESIDENTS Sixtv former college athleti heroes are now presidents of col leges and universities in United State. week and consequently had little effect on stocks. Nickel I Lsader Nevertheless, the slight recovery among leading Issues Thursday and Friday1 left several of these above their levels of a wek ago. To Interpret these advancea as a complete change In the market outlook would be to overestlmat their importance, but they impressed many observers with the belief that the course of least resistance is upward so far as stock prices are con cerned. International Nickel was a leader of the late recovery trend, reaching a peak of 13 on Friday, compared with 13 last week. The recovery, from a low of 12Vi at mid - week, was accompanied by a marked increase in trading volume at Toron to and Montreal, no lea than 1,735 shares changing hands in Friday's session of the Toronto stock Ex - change compared with daily turn - overs of less than 900 shares in some of the preceding sessions. Brazilian was dull throughout the entire week, closing yesterday at 17 against 17 last week. last week from the week preceding 11 advanced and 15 were unchan ged. The bulk of decline were of in. nor scope and were most noticeable In the farm and food groups; oairy products and provisions, on tne contrary, were generally un changed or slightly higher. Cotton was by far the weakest of the major items, and declined to bnlnw cents as the significance of the supply situation was realized more universally by the trade. Prices of spot hides have receded one cent irom their recent high of 124 cents, despite continued activity in tne consuming trade. Rubber maoe a new low record. On the other hsnd, forced cur tailment in the East Texas nil fields has caused the first increase in bulk gasoline prices in many months and further advances in both crude and refined product are possible. Metals a a group are holding quite firmly. As compared with the Individual lows, mostly established in the early summer, 21 of 40 commodities are definitely higher and 10 approximate these levels. Only 9 signally have failed to adhere to this trend." ROBBERS, SPOTTED IN DRUG STORE, ESCAPE Patrolling his beat at about 1.30 a.m. today. Constable. Patenanri nf the St. Boniface police, disturbed robbers, who were In the drug store of W. A. Leslie. 157 Kennv road, Norwood. The thieves escaped through a back window. St. Boniface police suspect that three men were Implicated. They made away with between $40 and 50 worth of tobacco. Thev had forced the Iron bars of a rear window to make their ent rv. InvArtf. gationa are proceeding. NET EARNINGS OF C.P.R. FOR" JULY DECREASE Subatantiat Saving Effected But Croaa Revenue Falla Sharply MONTREAL, Aug. 29 - Although the Canadian Pacific railway was able to efefct th substantial sav ing of 2,134,159 In its working expense during the month of July he decline in gross revenue for the month was heavier than usual and as a result net earning - for July showed reduction of $1,330,688 irom tne corresponding period of last year. Thl latest reduction in net nring the total reduction for the seven month to $2,753,698; during the same period the system effected a reduction In Its working expense of $15,281,945 from the like period of 1930. uross rrom July totalled $11,876,. 230 in July, 1930. Expense were $9,957,060, against $12,091,219, leaving net at $1,919,169, against $3, - ou,uoa. seven months gros totalled $82,381,448, a reduction of ij,imo.m4.. expenses were cut $15,281,945 to $72,324,159, leaving net for the period $10,057,288. against $12,810,987 In the first seven montns or 1930. BRANDON MEN EMPLOYED ON RAILWAY WORK Special to Th Winnipeg Tribunal BRANDON, Aug. 29 About 240 men were given employment by the Canadian Pacific railway this week laying heavy steel between Brandon and Vlrden. Increased and heavier traffic Is responsible for the company taking up tne bo - pound steel and laying 100 - pound steel on their main line west of here. Of the number of men given work this week, about 125 men were employes of the railway, while 115 men were taken' off the city's relief list. The work, which will last about three weeks, has assisted materially in providing needed employment Work on the Kemnay subway is proceeding at a rapid pace now, and It Is anticipated that it will be completed in about a week's time. The construction has taken much longer than originally anticipated, due to engineering difficulties encountered, but thess have been overcome, and the work nearly finished. MORGAN CONTINUES TO ' GAIN ON AL SIMMONS Eddie Morgan, clubtxr of the Cleveland Indiana hn rhnrtw1 hta arwinrn thlK wason In an' effort to let more base hue I and fwer borne rune, continues to e;a.n on Al Simmons anfj Babe Ruth In the race for American league batting laureli, but he ettll has a lone way to go. By hitting twice yeiterday in three trlpf. Eddie Looit - points beluw Ruth, In second place. He ed his average to .300 leaving him 21 was the only one of the leaders to sea action. fi AB R H Pet. 8lmmons, A'i 112 4M M 174 .3"S Ruth, Yankees . 11 43ft 118 1 .31 Morgan. Indians . KM 23 74 134 .3ft0 Uavie, Phllllea , 9V 32.. 11 . - v the Terry Giants .,124 497 M 171 .344 ! KUto, FbJU.es .. 125 504 109 172 .311 World's Grain Exhibition Will Not Be Cancelled REG IN A, Aug. 29 - Th World' grain exhibition and conference to be held In Reglna, July 25 to Aug. 8, 1932, ha not been cancelled. Final decision on the show will be announced by Hon. Robert Weir, federal minister of agriculture following his return to Ottawa next week. An official statement to this etiect waa given by Mr. Weir just before leaving Reglna, Sunday night after attending an all - day conference with Premier R. B. Bennett and the provincial cabinet. WHEAT PRICES SATISFACTORY TO U.K. MILLS Appear to be Accumulating Stocks Continental Buying Is Hand to Mouth (W. E. Raid A Co, Ltd.) LIVERPOOL. Aug. 29 Spot wheat unchanged, corn unchanged. Liverpool parcel market 8 lower to 3 higher; No. 2 Manitoba, unchanged; No. 1 Manitoba, unchanged. Corn unchanged. Liverpool futures opened lower in sympathy with Winnipeg and free offers of c.i.f. wheat from nearly all exporting countries. Very little demand for actual wheat. There Is some slight pressure of old crop U.S. hard winter wheat. Corn steady, demand for parcel I only nominal, as new crop prospects in Ronmanla ar excellent. The weather In western Europe is partly overcast with occasional rains reported, although on the whole it Is mostly clear and warm The forecast is mostly clear weather In the south - east and also north - east, but some parts expect unsetteld weather, with rain over weekend. Broomhall Comment The international wheat market is irregular, owing to many im portant factors which affect prices in all parts of the world. The flour mills In China are booking good quantities of American wheat owing to large flooded areas. Flour sales, however, are reported to be slow owing to the uncertainty of shipments of Farm board wheat and flour to relieve the famine - stricken districts. This country is in need of large quantities ot low. grade wheat and flour, some ot which may be furnished by Russia or Balkan countries. A sale of low - grade Danubian wheat was reported in England yesterday a low as 41 cent bushel. Wheat and flour shipments from all countries, excepting jNortn America, this weak totalled 8,511.000 bushels, or nearly 1,400.000 larger than a week ago. To non - European countries, shipments were 2,129,000, making total 10,640,000, compared to 9.248,000 week ago. Quantities on - passage are larger than a month ago by 4.700.000 bushels and slightly larger than this time last year. Liverpool aro three times as large as year ago and this shows that millers in England consider world prices to be low enough and free trade permits of atocking up a', attractive prices, while some contl - t nental countries, which hsv a quota and extremely high import tariffs, can buy only hand to mouth for Immediate requirements a the lowering of these tariffs would cause domestic prices to fall. Berlin closed unchanged to M higher and Rotterdam 1 to ltt lower yesterday, the latter on fear of dumping by Russia. Receipts of new wheat in Russia are reported to be fully up to expectations, but there is a great scarcity of sucks. Chartering continues fairlv active and chief destinations for new Russian wheat are said to be Italy and Great Britain. WHEAT ACREAGE IN U.S. WILL BE CUT 12 PERCENT Fourth Successive Year That Prospective Acreage Reduced WASHINGTON, Aug. 29 The agricultural department announced Friday that farmer intend to plant 12 percent less winter wheat next fall than was harvested thl year. The department said if farmers, generally, carry out the intention a reported thus far, they will sow 37,344,000 acres, as compared with 42.422,000 acres In 1930. This Is the smallest acreage reported as Intended since intention were first determined in 1923, and is the fourth successive year that prospective acreage haa Deen less than the preceding year. The department also announced that farmers Intend to plant 5.3 percent less rye next fall. A total or 3.4H0.0U uacres is planned, com pared with 3.6z,ooo sown last talk NET REVENUES OF C.N.R. FOR JULY $335,618 Operating Expenaea Foit Mont ha Are Reduced by $2,395,079 ' MONTREAL. Aug. 29 Net op erating revenue of $335.61 for th month of July Is shown in '. the monthly statement of gros revenues, operating expense and net revenue lssaed Friday by Canadian National railways. The policy of reduced expenses placed In erfect by the Canadian National management shows a decrease in operating expenses for July as compared with July, 1930, of $2,395,079. . Gross revenues in jury, ivti. were $14,807,474. a decrease or. $4,042,676 as compared with July, 1930. Operating expenses for July, 1931, were $14,471,855. a decrease ot $2,395,079 as compared with th corresponding month of last year. Net revenue for the month of July, 1931. was $335,618, a decrease of $1,947,596 as against that of July, 1930. For the period from January X to the end of July, 1931, gross revenues were $103,083,100, a decrease) of $25,978,141 as against the sama period of 1930. Operating expenses for the 1931 period were $101,418, - 446, a decrease of $13,965,670, and! net revenue $1,664,653, a decrease) of $12,012,470 aa against th imllap period of 1930. MOT OrtlY BITTf ft BUT eOOXCAMAIMAN QLU3 tfT THE INK YOU CAN RtLY ON 1 Has WHEAT Touched Bottom? The Wheat Market la surrounded with many unusual world conditions and weather possibilities to affect it. Now is the time to study the market most carefully In anticipation of rapid changes. Our Dally Forecast Letter Is based on world conditions. FREE TRIAL for on week. No obligation. Th Canadian authority send for it O - lrJll Winnipeg INVCJTHCNT .PROBLEM The experience and informed . contacts of the Bond Depart - ' ment of The Dominion Bank are at your service in regard to your investment problems. This Department is operated solely to give helpful invest ment service to the Bank's customers and through it our Branch managers can secure complete and authoritative information relating to investment opportunities. Consult the manager of our nearest Branch. THE DOMINION BANK ESTABLISHED 1871 Winnipeg Main Office: COR. MAIN ST. AND McDERMOT AVE. R. K. BEAIR8TO, MnBr. 5 othsr branches in Winnipeg.