The sun., 1919-09-09
MONTREAL MARKET
SHOWS STRENGTH
Uncertain and Weak Tone in
New York Is Not
Reflected.
PAPER STOCKS GO UP
Annual Reports of Spanish
River and Laurentide
Please Trade.
PAPER STOCKS GO UP

Special Correspondence to the Camad;an
Section Of THE SUN.
MONTREAL, Sept S.-The outstanding
feature in the stock market operations
here for the. past week was the con-
spicuous strength of practically the
whole list in face of the uncertain and
sometimes weak tone In the larger mar
ket at New York
AS the situation in Wall Street was
brought about more or less by a labor
situation in the United States, which
only indirectly would affect the market
here, the movements in the larger mar
ket would naturally not be reflected to
any great extent in Montreal.
1t is we'll known that New York is
Inclined TO be panicky in the face Of
any event that affects New York direct
ly, but traders here have found that
New York very easily rallies from
slumps of this kind. so that unless the
reasons for declines in Wall Street are
fundamental, little attention is paid
here to movements in the bigger market
Spanish River stocks Rise.
At the end Of the previous week.
when the labor situation in the. United
States looked threatening, both markets
reflected the darker outlook: but when
the Government Of the United States
and the chief executive Of the Steel
Corporation aligned themselves against
agitators 1t was considered that the
danger OF what was regarded a kind of
Bolshevism had passed and both mar
kets quickly responded. N-
The largest manufacturing industry
in the Dominion at the present time is
that OF pulp and paper. and events az
fecting this are more or less reflected
in the market generally
During the early part of the week the
Spanish River company issued its annual
financial statement. showing excellent
earnings, and the talk in the Street that
stock would be issued by the company to
pay off some AZ per cent of back diyi-
dends on the preferred, being brought
nearer possibility by the showing made
there was a corresponding reflection in
the price Of the company's securities.
ne at the week END
showed an appreciation of Az points on
little more than 5000 shares and the
preferred added Az points on trading In
less than 1000.
Later in the week the Laurentide
Company, Canada's premier paper enter
prise, issued its annual financial report.
and the splendid showing made by the
company. following $50 closely on the
Spanish River report, caused further
feeling of cheerfulness in the market
here. Laurentide responded with rise
Of q points to ZIG, but did not keep
up with, the other paper stocks and at
the week end had lost two points Of its
gain.
Among the other papers to partici-
pate in the advance were Riordon. which
closed 4 points higher for the week at
141 Abitibi. up s1a points to s2s
Brompton, up 4 points to 81; Howard
Smith, up 5 to $50, and Wayagamack,
up points to 59%
There was a slight furry in the steel
issues on repetition Of merger rumors
Dominion Iron led in this respect, and
there was choice of reasons for the
active buying. Some $4,000 shares
changed hands. One rumor said that
New York interests were buying for
control to merge Scotia and Iron, the
other said that interests allied with the
Steel Company of Canada were en-
n similar action on Steel of
Canada's behalf. The fact that 10 per
cent. of the buying on Irons most active
day came from Toronto appeared to
swing opinion in favor Of the latter.