The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-09-09
TORONTO MARKET
STILL UNDECIDED
Maple Leaf Commons Jump Of
10 Points is Sensation Of
Week.
STEEL STOCKS IN RALLY
Taxable Feature Of New Issue
Tends to Make War
Bonds Stronger.
STEEL STOCKS IN RALLY
Special Correspondence to the Cdnodtdn
Section of THE SUN.

Special Correspondence to the Cdnodtdn
Section Of THE Sun.
TORONTO, Sept. Son certain days
last week there was renewed life to the
Toronto Stock Exchange, which gave
hope that an active season was at hand.
At the end OF the week this was not
so apparent, but there was on the whole
a marked frmness in many of the stocks
The uncertainty existing in Wall Street
was apparently reflected here, and there
was, In addition, the distraction from the
impending loan. which Is bound to re-
strict trading. Even brokers will be in
clined to discourage speculation. espe-
cially II they have the success of the
loan at heart, as most of them have.
The sensation Of the week in the mar
ket was the rise OF Maple Leaf COM
mon. which made a jump of more than
10 points on one day TO 400, much the
highest price 1t ever reached. and at the
close of the week at 1877 1t was still
1eh points up. There was no news to
explain the rise except, that there was
scarcity of the stock and a belief In
some quarters that the generous policy
Of bonus distribution Of the last two
years might be repeated. There was
also the fact that two Of the other Cans
dian flour stocks-Ogilvie and Lake of
the woods-sell well above 200.
Steel stocks had a rally, and Dominion
Steel sold to the extent OF almost 1000
shares Part OF this was attributed to
accumulation by a group. and part OF
1t came from profit taking, as 1t takes
but a small rise in steel stocks to bring
some Of the holders out to realize
Steel Of Canada common, though not
| SO heavy a trader, showed even more
strength and made a net gain of *
points. Dominion Foundries. an unlisted
| stock. was also some 8 points higher
at 65. Toward the end of the week pape1
stocks replaced steel in favor, and Span.
| ish River common and preferred, Toronto
Paper, Provincial Paper, Wayagamach
| and North American Pulp all made sub
stantial advances. In the case of Span
ish, the cause was apparent in the IA
| vorable report published few day,
previously.
Canadian war bonds arc showing
| firmness, as 1t Is becoming realized tha'
the new issue will be taxable. Wal
bonds are now being made use OF NOR,
frequently as collateral In financia
transactions. Branch bank managers re
port this fact, and 1t Is a logical re
suit of the strong place of these bond
and their easy negotiability. Further
more, the holders of them may borrow
up to tee Issue price. which Is an ad
vantage. and incidentally strengthens tn
reputation OF the bonds with the genera
public.
There was a noticeable rally on tn
Standard Mining Exchange. where tn
better established gold and silver stock
advanced several points. though not al
the gains were held. Hollinger rose a
high as 81. while Mcintyre. Temiskam
ing and Adanac showed a return OF con
, fidence by investors. Speculation is 70
the present at low volume In minin
shares, and the more conservative oh
servers of the market are CORRESPONDING
ly pleased:
The following Is the summary Of tn
transactions for last week on tn
Toronto Stock Exchange: