The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-10
POWER OF MILLS
At FORT WILLIAM
MONTREAL CAPITALISTS BUY THE
KAKABEKA FALLS.
Energy to Be Transmitted Eighteen
Miles and Applied to Machinery of
Ogilvie Mills-Destiny Of the Cana
dian Port Indicated by This Deal and
Heavy Purchases Of Real Estate.
Special to The Journal.

Special to The Journal.
Winnipeg, Man.. Dec. 10.--The hakabeka
falls, eighteen miles from the town of Fort
William, have been purchased by C. Il. Hos
mer, H. NJ. Holt and F. w. Thompson, capital
lists of Montreal and power to the txtent Of
80, 900 horsepower will be developed. Those IN
rectors and large owners of the Ogilvie Flour
Mills company, and the development is for the
purpose of supplying power to the mill Which
the Ogilvie company is erecting in Fort William
The new mill will have capacity of 5000 bar
reis day
The news Of the purchase of the falls for the
purpose mentioned had tendency to enliven the
real estate market at Fort William and several
large deals were put thru. One of these was
made to Montreal man. who purchased prop
erty in Fort William to the extent OF $ZO,OOo.
The town is securing much attention from capt.
talists from the east and west in view Of the IN
coming of the new transcontinental railroad.
500 Industries Prosperous
There is general satisfaction over the pros
perity and progress of the reorganized industries
at Saut Ste. Marie which were built up under
Mr. Clergue. and which when they fell into
difficulties We're assisted towards their re-estab-
lishment or a better basis by $2.oooooO loan
at 5 per cent. which the Ross government took
the responsibility of advising the Ontario legsla-
turc to guarantee Proof OF Their pfospsr1ty anu anu
progress on the basis is furnished by the
fact that their financial responsibilities are be-
Ing promptly met.
On the 1st of December Canadian banks, thirs
teen in number, paid over $2O00000 In half
yearly dividends. The Bank of Montreal paid >
per cent the Bank of Commerce By. the Mer-
chants bank 3la. the Imperial bank .. the Bank
of Toronto 5. the Bank of Ottawa Az, the Bank
of Hamilton 5. the Union bank 31a, the Bank
of Quebec ~. the Bank Of Hochelaga 3la the
Traders bank 3D. the Standard per cent and
the Bank of Ontario 31s per cent. The amount
of dividend divided among stockholders IS
800, 600.
Sifton Against Reciprocity.
| Some Important statements have been made
by Clifford Sifton Of Ottawa regarding the Sc
curing of permare nt reciprocity in naturals
with the United States. Mr. Sifton takes the
stand that while western Canada produces and
must find an outside market for an immense
amount of wheat he is far from sure that the
west would to have the American duty taken
off for the that he believes 1T is the best
article 1t is just as cheap to haul -four to
the from Winnipeg to the Lake of the Woods
as from Minneapolis, and with the advent of the
third transcontinental railroad rates Will be
cheaper all the year around.
The Improvement In waterways will also have
the tendency Of lowering rates. With cheaper
transports alton and cheaper power the advantages
which Canadian mills will have will make It far
better for the general prosperity Of the country
than simply growing the product and allowing
outsiders to grind it into -four.
Some few years hence the question of reel
procity will become live one. Millers here
have at last been forced to believe that there IL
more behind the attitude of the United States
prominent miller states that Canadian mills
have been altogether too apathetic in the matter
and that it would behoove them to get thort
grasp the probable results SO as to be bic Il
take up the matter should the United States de
eide to throw off the duty wheat. Millers are
not as they We're a few years ago tina
they will be strog enough to induce the govern
ment to place an export duty on wheat.