The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-23
DOMINION SHOWS
STABLE CONDITIONS
Great Industrial Conference
at 0ttowa Clears Way for
Resumption.
COMPANIES SHOW GAINS
Get Together Spirit Between
Capital and Labor Has q
Stimulating Effect.
COMPANIES SHOW GAINS

oeCttoH " lHb DUN.
TORONTO, Sept 22.--Labor questions
have been overshadowed by the great
Industrial conference OF leaders from
capital and labor, as well as public
place at Ottawa during the week. II
was evident that there was first much
prejudice and misunderstanding to be
overcome. and the get-together spirit
was somewhat slow In making itself felt.
Real progress was made, however, and
even had there been no unanimous re-
ports or recommendations, the event
would still have been worth while.
1t was like parliament of specialists,
summoned to deal with an acute ma
tlonal problem, and the debate across
the floor was steadily Of a high order.
Friends of democracy cannot but feel
gratificationN that such an event was
possible, and that 1t was carried through
with earnestness and sincere desire
to better Canadian social conditions.
Several important Canadian COM
panies issued reports during the week.
which give further evidence of the un-
derlying strength of industry. The
Canadian Locomotive Company, with a
large plant at Kingston, Ont, reported
the largest profits of any year In its his
tory In spite OF the fact that from early
In May until the end of June when the
fiscal year covered by the report ex-
PRED, the company's works had been
closed by a strike. That strike is, in
fact, still in existence despite the length
to which President F. C. Wallace OF
Pittsburg has gone in his desire to reach
settlement. Operating profits were
sS4s,o00, to which is added $4,000 in
terest from investment, making a total
of sSs2,0o0, compared with s677, 900
last year. The company's financial
position has been strengthened, as is
seen from the fact that current assets
have increased from S2,14S,0o0 to ST.
29s.000. while current liabilities have
decreased from s1.O27.0O0 to s6S3,o0O.
Porcupine Mines Prosperous.
At the end of the week the report of
the Mcintyre Porcupine Mines. one of
the large properties in the Porcupine
area, contained some gratifying infor-
nation. Net profits are S6S3,350, COM
pared with s6s0,361. More important,
however. is the fact that ore reserves
are now valued at s11 per ton, COM
pared with $3.50 a year ago. Milling
costs increased to s1.01, compared with
80 cents the previous year. Development
deal is hoped from this mine.
An Important change is taking place
in the administration of the Standard
Chemical Company, a corporation rs
per cent. of whose stock is held In Great
Britain. l.. NJ. Wood has retired from
the presidency, and been made chair
man of the board of directors, while an
eminent Scottish engineer, David Gil
mour. with experiences in South Africa
Il
come president. This company suf-
fered by the quick change from war to
peace. and the early part of the present
year brought dull times to them. There
has been an improvement OF late, and
the plant is now operating at 20 per
cent capacity instead of 80 per cent.
as few months ago.
At last tangible evidence of a flour
mill merger is seen. The Maple Leaf
Milling Company, whose name was con-
nected earlier in the year with various
stories of amalgamations, Is now TAX
ing over the Campbell Flour Mills Com
pany. a 3,50O-barrel mill in this city.
The Maple Leaf is paying slightly over
81, 100000 for the property, and the
shareholders will be asked to approve a
bylaw to raise another $1,000, 900 of
preference stock for the purpose of the
deal The stock OF the Maple Leaf out
standing now is $4,000, 900, half in pref
erence and half in common.
Carter-Crume Company Winds Up.
meeting of the Carter-Crume Com
pany shareholders has approved a pro-
posal to wind up the company and take
payment in stock of the American Sales
Book Company. this being the consum-
nation of an arrangement entered into
some time ago.
Another annual meeting OF the week
was that of the Spanish River Pulp and
Paper Company, when the new plan for
financing the payment of deferred inter-
est on bonds and notes was unanimously
approved. This plan provides for an
issue of $3,500,000 in notes to be Of
fered in the near future.
Activity and strength on the Toronto
Stock Exchange continued throughout
the week. AS the date for the Victory
Loan campaign approaches there is some
surprise at the strength of the market
for 1t is known that most of the brokers
VIII shortly leave their offices a great
part Of the time to work on the loan.
Just where the present buying power
comes from is not clear, but IL Is felt to
have a measure of justification in the
low price at which at least some of the
stocks have been quoted. An examina-
ton shows the yield to exceed per
cent on a number of important issues, a
fact which will naturally be a stimulant
to bullish operations. Some OF the more
important stocks had had their run in
the previous week or two, so that in
terest largely centred last week on a
number of speclalties. For example,
there W re advances of IL points on
each of the issues of Tooke Bros
Another stock to show big gain was
National Steel Car preferred, which,
though it eased of toward the end of the
week, still showed a gain of over 10
points. There was a report that this
company had received large order for
box cars. Tuckett's common was pap
ular and made a gain of over 5 points,
This is a non-dividend stock, but the
company's earnings have increased dur
ing the past years so that at least in
times of bullish sentiment there is
thought to be speculative value in IT,
A good deal of activity took place al!
week in Atlantic Sugar and Ames-
Holden issues, though as both COM
panles are far behind in deferred in
terest on preferred. the stock markets
activities would seem to be highly spec-
ulative In foundation.
BraziIian shows Weakness.
Ames-Holden common gained no less
than II points and is now around rs,
which for Canadian non-dividend
stock may be considered a high price.
There was a lot of trading in Brazilian,
and the stock showed weakness at the