The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-07-01
STOCKS STRONG ON
TORONTO EXCHANGE
Calling OFF Of Strikes in Big
Cities Instantly Reflected
in Market.
BETTER OUTLOOK SEEN
Good News Of Crops Also q
Factor in Improvement at
Close of Week.
Special Correspondence to tbs sux.

Special Correspondence TO THs SuE.
TORONTO, June 30.-There was a dull
opening and a strong close to the weel
on the Toronto Stock Exchange. TIL,
difference more than anything else re
fleets the change that came over the
Dominion In labor matters. The gen.
eral strikes at Winnipeg, Edmonton and
Calgary we're declared off, and at once
there was a feeling of great relief. I,
seemed that revolutionary ideas had
been put to the test and had swiftly
failed. Notions of quickly changing the
country's financial structure did not find
much favor, and for the time being they
are put in the discard. Though there
was much bitterness at the start be.
tween employers and employees, 1,
looks as II that is passing, and the whole
series OF unfortunate incidents may In
the end work for good in bringing about
a better understanding.
1t Is certain that thoughts Of Q
friendly character toward labor are be-
ing uttered where they were not ex-
pected only a few weeks ago. A strike
OF Toronto street car men has been In
progress for some days, putting the clti-
Gems to great Inconvenience, but this
mas HOl DetH aSSOCldteQ III tne bllkHltSt
degree with revolutionary ideas. 1t Is
simply a question OF wages and hours
and up to a certain point the public are
with the men. because they deserve
more than they are getting, but prob
ably not as much as they ask. To give
them any substantial Increase would re-
Quire more revenue; and the idea is
gaining stronger support that the rail-
way will have to collect higher fares.
A curious sidelight on the present sit
uation Is the fact that Toronto Railway
stock has increased in price on the
Toronto Exchange during the existence
Of the strike. This is taken to mean an
accepted opinion that the fares will be
raised. and that the company will there
fore be in a better position.
Canadian Crops Good.
Other factors in the recovery OF the
stock market have been good news of
the Canadian crops and an active con-
dition In business. 1t Is estimated that
the wheat crop will exceed 100000. 900
bushels. while there Is every promise OF
heavy returns from coarse grains. fodder.
live stock and dairy produce. With the
continuance of high prices for everything
the farmer has TO sell, the prosperity OF
the agricultural industry seems beyond
doubt, and from that should come pros
perity in the cities once the Industrial
unrest is quieted.
Steel stocks have been prominent in
the weeks trading. especially the Do
mnion, which has risen to around 60,
the highest price in two years. Steel of
Canada common was also active, going
up to 1914. Whenever Canadian finan-
cial observers lack a subject they can
turn to talk of a steel merger. Every
little while the Dominion and the Nova
Scotia are connected In this way, and
not long ago II is certain there was real
discussion along this line. Last week,
however, saw the Dominion and the Steel
Company of Canada associated. The
furthest the gossips would go was that
informal conversations for a merger of
these two companies had taken place.
and despite denials that anything official
had been done II is quite certain that the
subject was discussed.
The two companies might be said 70
supplement each other in a very useful
way. The Dominion, with It's great
producing plant at Sydney. by the At
iantic, would be a valuable feeder to the
Steel Company OF Canada. which at its
plant at Hamilton carries steelmaking
further along to the small steel products
stage. Thus the two might logically
work together to the advantage Of the
industry as whole.
Interest I'm Industrials.
There was a wide interest In indus
trials generally toward the end of the
week. Spanish River securities, follow
ing the announcement OF the possibility
OF preferred dividends being resumed, ad-
vanced to 3S%, a gain of more than 6
points during the week. A similar gain
was made by Canadian Car and Foundry
common. while both Issues of Atlantic
Sugar made over 8 points advance. fol-
lowing the annual meeting. with
favorable reports and announcements,
Securities of the Black Lake Asbestos
and Chrome Company were market lead
ers for several days, the bonds gaining
more than IL points, the preferred al
most points and the common more than
8 points. This company enjoyed a big
war business In the sale of asbestos and
Is now hopeful of developing a good
market under peace conditions. APP
parently the immediate cause Of the rise
large body Of chrome had been uncovered
on the company's property near Mont
real.
Canadian war bonds have apparently
had their run for the time being. There
was a downward tendency during the
week, nearly all Of them closing lower
than the week before. Interest in these
securities fluctuates greatly. but recess
sions are never on a large scale and
their general strong position has never
been questioned. It may be that bank
stocks will be the next to share the
public interest. as they have been neg
lected for some time and at present
prices the yield on most of them is
around per cent.
It would seem that the mining situa-
ton Is showing Improvement The Kirk
land Lake Camp is still closed down,
but reports say that a settlement may
soon be reached. Cobalt and Porcupine
are going ahead and confidence Is re-
Elected In the stronger prices on mining
stocks at the end of the week. Trading
is not on a broad basis as yet, SPECTATORS
and investors apparently preferring the
better known stocks Prospecting is on
the increase and It is thought that by
fall the mineral area of the north may
be considerably enlarged. Reports for
the half year on the silver camp indicate
that while the output in ounces is
slightly below last year. the increased
value OF silver will make this a profitable
year In the north.
The following Is a summary OF the
weeks trading on the Toronto Stock Ex-
change:
al