The sun., 1919-05-13
STOCK EXCHANGE IS
ACTIVE IN MONTREAL
Trading in Paper and Power
Securities Features Weeks
Transactions.
SOME SHARP ADVANCES
War Loans Easier, but Price
Changes Are Small-Steel
Still Lays.
SOME SHARP ADVANCES
Special Despatch to TIE Sun.

| Special Despatch TO THE Sun.
| MONTREAL, May 12.-The continuance
Of the bull movement in Wall Street re-
suited in the past week in the strongest
and most active market OF the year on
the Montreal Stock Exchange. Montreal
additionally trails Wall Street whether
" IL an advance or decline. The early
stages Of a bull movement In New York
| nine times out OF ten are accompanied
by dull and listless markets in Mon
| treal. The explanation offered Is that
the action by the New York market at
tracts Canadian investors and specu-
| lators, to the detriment of the Canadian
| market. until a sympathetic movement
| starts in Montreal.
Conversely n bull movement in Mon
treal VIII often overrun a bull move
| ment In New York by a week or more
In the present instance. while Montreal
has enjoyed fair markets for several
weeks. the counterpart OF the speculative
excitement in Wall Street had been lack
ing until the week Just ended, when
dealings expanded to the largest volume
OF the year. embracing an unusually wide
range OF stocks, with substantial ad-
vances In prices.
Features of the weeks trading were
provided chiefly by the pulp and paper
number of preferred stocks In arrears
as to dividends, the latter group being
drawn from various parts OF the list.
Shawinigan Water Power came into
prominence under buying attributed in
part to British interests in the company.
The company's stock had a wide dis
tribution in England and Scotland prior
to the war. but some of these holdings
were !lquidated in the past three years
tn Inn IN ha
British war loans. Despite restrictions
on the export of British capital II is
believed that in the past week there has
! been some repurchasing of the stock for
British account. with the purchases tenn
porarily financed in Canada. At all
| events the demand for the stock expand
| ed to large proportions and the price
rose from 121 TO 127h. a new high for
the year. with only a slight reaction to-
| ward the end of the week. The convert
/ fble notes OF the company. which have
been overhanging the market for the
stock for some time. advanced concur
rently from around los TO 100 in New
York. where the bulk OF the issue was
| placed.
Laurentide was another strong leader,
| this head of the pulp and paper group
| which enjoys such favor in the Canadian
| markets advancing from 20s1a to 216i3.
the stock of the company's power sub
sidiary touched a new high at rs. an ad-
vance of nearly six points for the week.
Spanish River preferred was another
strong stock in the pulp and paper
group. advancing 8 to 81, a new high
| for the movement. while the common
| rose 2 to 22A. also the best price OF
| the movement.
Other strong stocks OF the week in
| cluded Maple Leaf Milling. Ogilvie
| Milling, National Breweries, Canadian
| Cottons, Dominion Textile. Ames Hold
| en- common and preferred. British Co.
| lumbia Fishing and Asbestos at advances
OF Z to IL points. with the bulk Of the
gains retained in the final dealings. The
steel stocks continued to lag, Dominion
Iron falling back more than n point In
the week, while Steel Of Canada was
| barely steady.
| The war loans were less active and a
shade easier all around. but price
| changes were small.
further extension of New York
interest in the market was denoted by
the opening of a branch office OF Sutro
| Bros members OF the New York Stock
Exchange, and the installation OF a pri-
vate wire between the office of O'Brien
a Williams of Montreal and Hornblowcr
& Weeks OF New York.
Tho following table gives the total
sales, open. high, low and last prices OF
all stocks and bonds traded in in the Mon
treal Stock Exchange for week ended
May 10. 1913: