The Winnipeg Tribune from Winnipeg, Manitoba, Canada • Page 16

i a in mm mm mm mm mm mm TAGE 18 frTE WINNIPEG TRIBUNE SATURDAY. FEBRUARY 15, 194T, Triple 1947 Acreage, Flax Board Advises By C. V. COMBE (Tribune Financial Editor) Western farmers are advised to seed 3,000,000 acre3 to flax in 1917 as contrasted to 000,000 in 1U46, Prof. T.

Harrison, assistant commissioner, board of Grain Commissioners for Canada, and chairman of the National Barley and Linseed Flax committee, told The Tribune Friday. Prof. Harrison was speaking in the board room of the Grain Ex never Irrigated after change, where a color talkie film' seeding." showing flax as a profitable crop H. B. omerville, Hartney, in Minnesota and the Dakotas had hai riset 2.500 arres whicn 8vf agea ousneis 10 ine acie, won, just been exhibited.

120 acre field vieldine 23 "If farmers do that, and Use bushels. Ti hn.h.V. i thi A Summach, Asquith, Sask at least 12 buSheis the acre nf profitable our new Royal variety of flax, he said. Prof. Harrison declared that there is a definite shortage of flax for use In the paint, linoleum, textile, shortening electrical insulating, cleanser and lubricating Industries.

If farmers will co operate with industry and at least treble their 1947 flax acreage they will do more than raise a very profitable crop. They will bave an assured market, which is more than can be said of cereal grains. "The shortage of flax seed exists could export literally millions me. 1943 "he" bushels." If farmers sow 3,000.000 bushels of flax like the new University of Saskatchewan Royal variety, they should have a 36,000,000 bushel harvest in a normal year. That would enable industry to catch up on the lag in production of civilian goods in short supply for years, because of war demand for flax and its products.

Pref. Harrison cited cases of heavy yields of eew, disease resistant varieties of flax. O. Col bens, of Tilley, raised 35 bushels of flax to the acre and SAN ANTONIO GOLD MINES LIMITED (No Peraonal Liability) DIVIDEND No. 27 Kntlea li hereby liven that a dividend 38 years of farming." Several nun dred acres of Royal had given him an average yield of 30 bushels to i the acre, "Figure it out for Prof.

Harrison said. "Flax is worth $3.25 a bushel now and it certain ly will not be any cheaper this year." Western Canada, he said, pro duced 96 percent of all the flax raised In Canada. Flax was not a risky and it was not a tricky crop to raise. The biggest acreage and yield i million bushels were grown in the west, for an average of 6.0 bushels to the acre. The ten year average was 6.3 million bushels from 923, 000 acres, an average of 6.8 bushels, most of it from unimproved seed.

New varieties, produced by Canada's farm experts, would double that yield, at least in Manitoba and Saskatchewan. Prof. Harison pointed out that flax does best on fertilp, well drained soil which is free of weeds. It rotates well with small grains; does well on summer fallow or breaking; or as a nurse crop for grasses, alfalfa or red or alsike clover. Flax needs shallow cultivation and a firm seed bed, he said, and, ordinarily, should be sown about May 20 and cultivating after seed ing kills weeds.

Both fertilizer and! weed spray increase yield three to of 7c a ahare hut been declared on the hnehple in th arro nuutandin oaHtal atock of the company, i Iour DUShelS to the acre, payable in Canadian fund, on the 5th day or April, aay or April, Men who serve on the National ivii. to inarenmaera ni record at the clone of bunlneu on the th Barley and Linseed flax commit dav of Marrh. 1947. By order of the Board. F.

Secretary. Winnlpea. February 1.1. 1P47. tee with Prof.

Harrison include: Leo Gauer, L. C. Stephens, J. A. Brodie, Lyle Wallace and Robert Whiteman! CONSTRUCTION and CONTRACTORS' EQUIPMENT of all kinds For details call 576 Wall Street WINNIPEG Phone 37 187 COURT REPORTER WANTED for Northern Judio'al District, with headquarters at Minnedosa.

Must be under 35 years of age, and be experienced at taking verbatim reports of court proceedings or court martials, etc. Apply for full particulars to: MANITOBA CIVIL SERVICE COMMISSION 1 223 Ugislativa Bldg. Phont 907 369 TODAY'S MORTGAGE carries a lower interest rate than ever before. Are you paying a higher rate of interest than necessary on your present mortgage? REFINANCING your mortgage is a simple matter and may save you considerably in interest. Visit our mortgage department now at no obligation, we can give you a carefully made analysis, showing you in detail whether or not refinancing would be of benefit to you, either for your business or your oersonal properties.

OsitR.Hsipms.teoN I i I HEAVY YIELDING FLAX Here is a field of heavy yielding flax of the new Royal variety, grown on a farm at Whitemouth, Man. The modern practice is to bind it into small sheaves and to dry it thoroughly In the field, or to swathe it and pick It up later with the combine. Rail Priority Will Save Tough Wheats Announcement that wheat will be given first priority movement on Canadian railways is long overdue, grain men say. There are in Allierta and Western Saskatchewan, millions of bushels of wheat which is so tough or damp after a very wet harvest that it could be a total loss as a bread grain if left on the farm until spring brings danger of hpntinrr There are few facilities for drying such grain at Vancouver and the only equipment in Canada with sufficient capacity to dry it is al Fort William and Port Arthur the head of the lakes. That is one reason why W.

C. McNamara, a Wheat Board commissioner, said in an interview Friday: "Once the 95,000,000 bushels of grain, including 77,000,000 bushels of wheat, have been delivered to terminals at the east and west coasts, and at lakehead, farmers icould deliver other stocks still cn their farm in time to spoilage." On the west coast, Mr. McNamara said, British freighters were lying empty at the docks waiting for grain from the prairies. Fuel dealers and mine men say that the acute need for keepinp safety reserves of coal at strategic points on the prairies is past, since it is hardly likely that sustained at this time of year, However, they have learned caution from the unexpected British situation when the coldest his Lynn Lake Still Biggest Seller on Toronto Market Although Lynn Lake group shares traded 15 to one this week as compared with Western Oils it fell to Anglo Canadian prevent: oil to make the biggest advance in price this week. Indeed, of the leading three seller in each group.

Anglo Canadian was the only one which did not show a loss on the week's trading. From Friday to Friday it scored an upturn of 15 cents, closing the week at S1.35. It traded 62,053 shares while scoring this advance The Lynn Lake nickel copper leaders, Sherritt Gordon, God's bitterly cold weather will develop Lake Gold and Denison Nickel, traded 1,403,170 share between them, as compared with 3,974,412 last week. The three loading oils, Anglo tory of record almost caught i J1 Britain with poor distribution of innrt 9M03 shares reserve stocks when great fRO last week and blocked roads and railroads 290,643 for the entire list heavy Rales tied up shipping while week. the nation's industries sank into' ls snown performance of Daralvsis and its homes and rom i1" three most act've as listed this merce were crippled by bitter cold.

Similarly building materials and merchandise will be held back while wheat for food goes overseas and feed grain goes to eastern farmers whose dairying and cattle and hog feeding programs are disrupted by lack of grains. week Sherritt Gordon: cioaa Monday no TuadRV 4. as Wprinfarlay 4 SO Thuraday 4.7ft Friday God's Lake Gold Monday 7.1s Tuaartay 1 ft Wednesday 1.71 Thuraday 1 All that is needed now is good pia ihiV TM.ui iat. weather to keep the railways and Denison Nickel the farm roads free of snow. If 2t railways can implement for wheat winter ports will be kopt Thursday 14 hniu anrl labahairi ho Fr," uc goft fioo; last ouiii up ior me opening 01 navigH Anglo Canadian; tion less than two months from now, after which the country will be cleared of surplus grain speedily.

Similarly shipping companies will be civen the green Jlght by the wheat board to move milling grains to flour mills and flour to sea hoard. Thus they can get bark into maximum production as part of the export program. Wheat exports for the week ended Feb. 6 were 3,515,586 bushels, a decline of 1.823,330 from tne same week in 1946. Wheat and flour overseas exports for the first six months of this crop year were 106,738,755 bushels against 183,280,000 for the same period last year.

In storage and afloat there were 129,703,174 bushels of wheat. Rye futures prices set new seasonal highs this week and closed Friday as follows: May $2.85, up 2'i cents from a week ago. July $2.58 vi, up 3 cents; October, up 7i cents. The cash rye showed a wide spread from the May, at a premium of six cents. 1 1550 Barrels Daily Ralea 11d.2." 143.

79(1 7.3 97 4a.s:is Monday 1 III 13. 2nd Turaday 1. 1( A Wwlnnday 1.2(1 It. ton Thurnrtay 1 20 4 93 6 Friday in. 33.07 Raifa (hie wk.

unu: laat, 2.700. Canary and Edmonton: Monday 3.1 11.2SS Tuesday It 20 1 SMI Wrlnaday 220 1 2 Ttinraday 20 2 1 Friday 2.30 n.9.10 Sala thin war, 22 917; laat, MV Homa oil; Monday 40 S.4S0 Tuday 3 30 1 315 Wednaarlay 33 1.1ISO Thuraday 3 30 3 Son Friday 3S 210 Sulfa thla waak. ll.SaS; laal, 4.7.VS. Leduc Oil Well Shut Off When Storage Filled to Tti Winnipeg Tribune) EDMONTON, Feb. 15 Four Major Oil companies have several million acres of possible oil lands under reservation in the Edmonton area where Imperial Oil, one of the group made a major strike this week.

It was at Leduc, 20 miles south of thi city. Unofficial reports stale that Imperial Leduc No. 1, well produred at the rate of 555 barrels per day for a 14 hour period, from 6 p.m. Thursday until 8 a.m. Friday, when the How was shut off as storage facilities were filled This mikes It one of the largest oil wells in the west, and it discloses a new oil producing area.

In addition to Imperial, other major companies with extensive holdings are McColl Frontenac, Anglo Canadian and most recent of all, the big Gulf Oil company from the U.S. which acquired 1,000,000 acres within the last 10 days. These oil concerns have reservations on a territory extending from Wetaskiwin, 40 miles south of Edmonton, and running north to Westlork and we.st to White Court. The strike made by Imperial Oil to expected to cause intensive act ivity in this general area during the next few months. Some of them have announced that drilling plans are in course of completion.

Government officials reported Friday there is a rush among farm Leduc Oil Strike Boosts Imperial Shares 19 Percent The bringing in of Leduc No. 1 oil well, 20 miles south of Edmonton, this month has meant an increment of $2.25 a share in Imperial Oil stock values on the Toronto exchange. They opened this month at $12.75 and closed on Friday at $15.00, a gain for the day of 50 cents. On Jan. 31 they traded 480 shores i .1 A AAH Storm End Sees Western Cattle Prices Recede OTTAWA.

Feb. 15 Eas tern cattle prices held 6tronjt but western prices relaxed under improved weather conditions, the Dominion agriculture department reports in its weekly livestock report. Cattle prices moved up 25 to 50 cents at Toronto where weighty steers sold at $13 $15. Butcher steers moving up to $14.50. In Montreal good steers sold between $1350 $14, cows $10 $11.

Early sales of cattle in the west were on a strange bast but as receipts continued to increase, prlca recessions became common and Winnipeg moved down as much as 75 cents. Best steers at Winnipeg were ers In Uie JUduc district to pay $14. SO downward, conditions were up arrears of mineral tax. Thesel similar at other western markets, arrears, on the basis of 1 cent Calgary finished weakpr, with pe acre, amount to an average of steers at $13 Edmonton $10 a quarter section. $13 Prince Albert $14; Oil companies also are searching i Moose Jaw Saskatoon $14; out farmers and offering lease and Vancouver $13 $13.35.

agreements to drill their lands, Dalrv cattle exnorts to the providing such farmers hold the United States for the week totalled mineral rights. Land Is "freehold," If it was bought before June 12, 1896. The C.P.R. is reported as holding extensive mineral rights in the area. Many farmers In the area who own these mineral righls have made lease agreements with Im day.

TORONTO Howe Sound company reports net Income of $878. or $1.90 a share for 1946 compared with or $1.86 a Newcor Mining Refining Limit FaiM inn wfev. iat. i.OM.202. reports selling 500.000 shnres, at $1,00 per share.

This places your company in a very healthy finan rial nncitinn Nawr nr is at Hnnrrlrc London Index Hardens After Goal Crisis Dip North American stock group Indices turned downward this week, mainly on profit taking and on suggestions that the coal crisis in Britain might unsettle the economies of countries trading with her. London Industrials, on the other hand, stiffened late this week and showed an advance of 3.4 point9 Friday from the low point of 151.8, touched on Thursday. Market comment from London today has it that traders there Electrolux Corporation, interim fpp' 'hat the loss of nine full points dividend of 40 cents a share on its since the coal crisis began to fes 1,230,500 shares of capital stork Mer early In January has more than outstanding, navnhlo March 20 to 1 discounted damage to securities, holders of record Feb. 24. In a Changing World There is no type of investment available in this country which, from the standpoint of security of principal, attractive interest yield and ready marketability, can compare with DOMINION OF CANADA BONDS Jound management of Investments requires con stand up to the minute information about conditions beneath the surface of the day's financial news.

Such information comes from hundreds of sources. The Dominion Securities Corporation maintains offices in London, New York and in principal cities across Canada. Our experienced judgment is available to all investors. Merely write or telephone. Do.HLi.Ni6?sr Securities.

CORPORATION UNITED ESTABLISHED 1901 TORONTO) MOMTHtaU WINNIPEG VANCOUVER HIWYOK LONDON, gNO). 502 Union Trust Winnipeg, Man. Tel. 93 413 I providing the bad weather breaks soon and permits the industrial economy and normal life of the i country to resume normalcy in the not distant future. I There are few plus signs on X'ne I week's trading in New York, Montreal and Toronto markets, but on the New York market only a few selected slocks show plus signs.

This week New York Industrials NEW YORK 30 Industrials 20 Railroads 15 Utilities Cioaa Jan. 10 178.43 49.58 36.60 MONTREAL 20 Industrials 125.30 15 Utilities 76.80 10 Papers 349.S6 15 Golds 71.16 TORONTO 20 Industrials 179.fi6 20 Golds 109.39 10 Base 85.31 15 Western Oils 22.50 LONDON Industrials Cioaa Tto 184.74 53.32 37.51 128.70 76.90 361.26 76.90 183.66 114.42 95.33 26.56 unexpected strength, closing up five points after barely holding their own since earlier in the year. Montreal Papers closed down for the week, losing 40 percent of their previous week's gains. The Golds there were off 1.47 while Toronto Golds lost 1.62, entering the loss column for the first time in several weeks. Toronto Ba.se Metals suffered from profit taking, some buyers of Lynn Lake group securities cashing in on the sharp advances of recent weeks and others a bit cool to the official announcement that one drill had entered ore and lost more than half of their wide then left it.

gains recorded last week and rail The bright spot was the West road indices lost 35 percent ot ern Oils which were up 1.13 points them. Even the Utilities found the after holding the 3.49 gain they going heavy though they suffer ed relatively slight setbacks. At Montreal and Toronto the weakness was less general. Montreal Industrials closed unchanged for the week and up 4.22 since Jan. 10.

Montreal Utilities showed made last week. The reason, of course, is the striking of oil at Leduc south of Edmonton, reputedly a 500 gallon a day well. Below is the record of Friday closes at four markets during recent weeks. Ctnaa Fab. 14.

181.64 51.88 37.20 128.70 77.40 356.33 74.98 183.88 11280 93.97 27.69 164.20 1W.10 155.20 Chania Fab. 7 14 Off 3.10 off 1.44 off .31 nil up .50 off 4.93 off .47 tin .22 off 1.72 off 136 up 1.13 off 4.90 Chania Jan. 10 Fb. 14 Up 219 up 2 30 up .60 up 3.40 up .60 up 6.47 up 3.82 up 4.22 up 3.41 up 8 66 up 5.19 off 9 00 London Industrial indices were up 3.40 Friday from the low of 151.8 touched at the close Thursday. 510 head against 697 in the cor responding week last year.

This year's exports to date are 3,348 while in the same period last yean i shipments totaled 4,227. Only one or two changes were noted in calf prices. Toronto held $17 $18 for choice veals, while Montreal sold good calves up to C1T Mrinin wi tK tieen. i Tho I' i Calgary $12 $13; Edmonton Ju Tn i 1 Prince Albert $13; Moose Jaw $12 nrln nn lh. n1 S12.50 and Saskatoon $15.

percent on the production when it is in excess of 225 barrels a' Hogs at Toronto brought for Grade Montreal i Winnipeg $20 40; Calgary Edmonton Prince i Albert, Moose Jaw and Saskatoon $20.15 and Vancouver $21 $21.45. The above prices do not Include the Dominion government premium of $2 per head on Grade A and $1 per head on Grade B1 hogs. Good lambs at Toronto crossed i share in 1945. Operating scales at $15.50 Mon i 139.432. At Britannia mine.

Brit 1 Calgary $12.50 513.15: Erimontor ish Columbia, production increased' 13 5: Prince Albert $12.50 and steadily. Preparatory work for shaft sinking and plant construction at Snow Lake division, Manitoba, was continued. Moose Jaw $12. MONTREAL, Tot al exports of Canadian newsprint for 1946 amounted to 3,857,741 tons agaitut 3,058,946 for the previous year, it is reported by the Newsprint Association of Canada. Exports to the United Slates totalled 3,323.238 tons as compared with 2.533,564 for 1945 "2 2i Lake, Flin Flon district, exports were S34.S03 Underground work is now being jrnrecied toward the oriving ol a 9.oon' raise from the fourth level to the JJ third level.

Simon The recent developments to the north on the fourth level are be nrvrii in unve cinuuifii previuusi known possibilities. This new sec tion is being systematically sampled and is to be assayed for gold, silver, copper, zinc, and arsenic. A specimen showing sphalerite was found to contain 9.14 per cent or $19.11 per ton in zinc. This assay, higher than the average zinc content of the deposit, emphasizes the change in the character of the ore. olson's Brewery limited, 25 cents, payable March 27 to shareholders of record March 5.

Western Blizzards Hit Car Loadings OTTAWA, Feb. 15 (CP) Car loadings on Canadian railways for the week ended Feb. 8 totalled nnn on I rnny iney uaurn t.n, i to round out a week in which their tnterS Private I rOQe rm. MAint InnlfoH hnrk I CANADIAN PACIFIC RAILWAY COMPANY DIVIDEND NOTICE 'cent, laewantv Iva canta bar atiara) on tha 65,241 cars Compared With Ordinary Capital Stock In roipect of, and the previous week and 64,533 for a cXV J'n'd. the same week in 1946.

March si. 1047. to hrthoid i record Showing the effects of heavy i1 3 00 on Fruary 24. H47. storms western lnadinirs rirnnneri' Th Drctor dem It dMirahia to point siorins, western inanmps ciroppen that h(t div)den(J of thr(.

nt, from 22.376 a week earlier to 18, mking a total dividend payment of fivo 150, grain being down by 970 cars "nt. in reonect ot operation! for year 1446. It md potaiblo only ty a ann coai ny r.HSiern loaning! conildorabio Increaao th Incnmo from decreased from to 47,091. Inveitmenti and In tho earning! fro Ocean Fixed charge have been sharply reduced but net revenue alia was substantially reduced because of the Impact of large wage Increases establish ed In 1946 and hecauoe of Increasrs in enst of materials and supplies. Without the as rhmiM OTTAWA Terrence F.

Flahiff, tnc from lnvettment nd JtMmlh.ci and in which 14,380 shares changed controller, resigned from hands. th yr wnuld hv bn imnuiWi. the Department of Reconstruct ion, Xh, Dir.c)0ri with to nd th.t tutur. land Sunnlv. has been annointed divirttnd ction mutt ncceuariiy dtotrui tn th.

fMll ImprBvtmtnt In railway Ontario Paper company and of the Quebec North Shore Paper company. Mr. Flahiff's headquarters will be in Montreal At mtetlna thi Boar of plr.ctora of Canadian Pacific Railway Company held tcdav a final dividend of tnra per ravenuaa. By ordar of tha Board. Fredarlck Bramlay Sacrclary.

Montreal. Frhruary 10. 1047. Canadian Government and Municipal Bonds Corporation Securities Direct private wires connecting fourteen offices from Montreal to Victoria assure investors prompt execution of orders. Information concerning Government and Municipal Bonds or Corporation Securities will be furnished on request.

James Richardson Sons UTAIUfNID im 367 MAIN STREET WINNIPEG Phone 93 131 Fourteen offices from Montreal to Victoria connected by direct private wires. EXPERIENCE THAT COSTS YOU IIOTIIIIIG Gaining experience in Investment matters has often proved costly for the Individual investor. This organization, through any of its offices, offers its clients the experience of over half a century. A. E.

AHES a CO. LIMITED BtUinsU CltaJdukad 1889 HamiHan BolMnaj WINNIPEG Toronto, IfontrtrU, Vaaenwar. Victoria. SncYork, London, JFaaimid The Northern Trusts Company Balance Sheet AS AT DECEMBER 31, 1946 COMPANY FUNDS Office premises at Regina Real estate held for sale Mortgages and Agreements for Sale Dominion of Canada, Provincial and other bonds (market value $700,304.25) Preferred and Common Stocks (market value. $416,085.00) Miscellaneous assets Cash on hand and In Bank LESS LIABILITIES: Provision for Income and Excess Profits Taxes Sundry Liabilities GUARANTEED FUNDS EST A TES, TRUSTS and AGENCIES NET INCOME for year 1946 after pro viding $18,000.00 for Income and Excess Profits Taxes BOARD OF DIRECTORS President: C.

S. RILEY Vice President: W. A. MURPHY Vlea Presldent DIRECTORS: H. C.

ASHDOWN H. J. BIRD N. J. BREEN J.

A. CROWE a aa a. aaafc aa a a aa aa aaaa aaada Ka A. L. DENISON W.

J. DOWLER H. B. LYALL GEORGE McLEAN General Manager: J. H.

RILEY 23,934.32 4,678.48 NET ASSETS Capital Stock $1,000,000.00 50,000 shares issued $20.00 each fully paid. General Rpserve 400,000.00 Earned Surplus 183,802.93 Reserve against mortgages and agreements 71,897.73 10,875.00 11,005.72 445,142.73 653,653.75 351,047.23 14,229.28 198,359.75 1,684,313.46 28,612.80 1,655,700.66 $1,655,700.66 1.655,700.66 162.4S8.48 $14,990,7.37.96 68.653.76 R. J. GOURLEY GEO. W.

NORTHWOOD HAROLD J. RILEY, K.C. C. GORDON SMITH EDGAR J. TARR, K.C., LL.D.

Head Office: Victory Building, Winnipeg. BRANCHES AT RECINA CALGARY.