davidaulloa/AmericanStories huggingface dataset:
The sun., 1919-03-11

Five millions of dollars are TO be spent
on highway construction, the treasurer
pointed out. as well as 100000 for
housing. $1,000, 000 FOR roads and bridges
and 81 100000 for the T. and y o. Rail
way for the erection OF a branch to
Kirkland Lake and either a railway or
trucking road to the Gowganda district
Extensive figures as 10 enlistments
were given by the treasurer. covering
the whole Dominion. In Alberta, he said,
there were $4,000 voluntary enlistments
and $1,000 men took part in the war, an
average OF one for every ten Of popula-
ton: British Columbia, $4,000 enlist
ments, $4,000 men In the war. one out Of
seven Manitoba, % 900 enlistments, ST.
600 men in the war. one out of seven
New Brunswick. $4,000 enlistnents, "a
900 men in the war, one out of seven
Prince Edward Island, $4,000 enlist
ments, $4,000 men in the war one
out OF nineteen, Ontario. 205, 900
volunteers, 2S2,00 IN the war one out
OF ten Quebec, 80 900 enlistments, H.
600 men in the war. one out OF twenty
seven; Saskatchewan and Northwest
Territory, $1,000 enlistments, $4,000 men
in the war. one out of thirteen. The av-
eraEe for the entire Dominion was one
man in every thirteen Of population.
The sun., 1919-03-11
MONEY PLENTIFUL
IN WEST CANADA
Improvement Plans InuolUe
$3.50, 900, 900 Expenditure.
sp,c,ol D,spdtch 10 THI Sun.

WINNIPEG, March 10.--Never before
was tho financial outlook for western
Canada so good as at the present time.
The Government of Manitoba is Dor
rowing all the money II requires at 51a
per cent, and has offers for any amount
at that figure.
The municipalities OF the west have
refrained from making any expenditures
except the most essential during the
whole period of the war with the result
that their credit at present Is good, and
in hundreds of districts movements are
under way TO build roads and bridges.
The railways of Canada announce that
10000 900 will be spent on branch line
extensions and on betterments this year.
The Canadian Government housing
scheme means that $4,000 900 will be
spent in erecting homes in the west
this year on easy payments. Besides
there will be an outlay OF $50, 1000, 900
on good roads In the west, the amount
to be stretched over the next five years.
In Winnipeg alone 20,000,00O In new
buildings are In sight. and this Is only
an indication of what will be spent in
all the centres OF the west.
AS TO agriculture there was "A larger
increased acreage in fall ploughing and
any season of the past. The shipments
OF grain have been greatly hampered this
year owing to the elevators In the east
being filed. This held back last sea-
sons crop from reaching the seaboard.
Seventy million bushels OF wheat arc
still In the west, and there IL not much
prospect of It getting out for some time,
as the allied Governments are not buy
ing anything at present.
The Grain Growers associations OF
Manitoba and Alberta at annual meet
ings passed a resolution against the
Government making fixed prices on
wheat. preferring that the duty on
United States goods be reduced so
that necessary agricultural implements
needed in the west may be secured at
less cost than at present rather than
that a high price of wheat be set. In
Saskatchewan the grain growers passed
a resolution that the Government Ak the
same price as last year. This was
s2.24iS. Indications are, however. that
the United States farmers will have the
advantage, as the Government cannot
e,and loss OF 10000 900. which
would be faced IL the Government fixes
the price. No decision has been
reached.
The winter has been The mildest IN
forty years. and this will be big help
to the farmers in getting to their land
early. II has also Elabled live stock
TO come through IN fine shape.
Altogether the outlook Is good for
year of prosperity. and the whole
country is pulling together 20 help the
soldier get on his feet again and be-
come n useful member OF the community
from a producing standpoint.
The sun., 1919-03-11
CHANDLER MOTOR REPORT.
Net Profits for 1918 Are s2.Io4,-
els, Against S2.3s2,4Oa in 1917.

The Chandler Motor Company in 1918
made a net profit after depreciation
provision of S2,l94,6lS, which is at the
rate OF S31.35 share on the $1,000. 900
capital stock In 1917 the net proht
was S2.3S2,403, or s34OS a share. The
total income for 1918 was s3,O62,7es.
against SS,277.7l5 in 1917, and depre-
citation charges were slightly less being
Ss5s,l5l in 1915 against ss95.3l2 in
1917.
Dividends were $4,000 in 1918.
against $4,000 in 1917. leaving tho sur
plus for the year sl,354,61S, a decline OF
about $4,000
The sun., 1919-03-11
NATURALIZATION OF
RAILROAD OPPOSED
Grand Trunk Pacific Receiver
ship Arouses Press of
Canada.

MONTREAL. March 10.---PracticaUy the
entire press OF Canada records its op-
position to the naturalization Of the
Grand Trunk Pacific, which II fears
may result from--Ax Government re-.
ownership. The Montreal star whose
opinion is typical Of most Of. the big
papers, says:
THE surrender OF the Grand lr4nk
Pacific 10 the Government came appLI-
entity as a surprise to the administration.
For many months members of the Gov
eminent have been trying to make the
Grand Trunk shareholders sell the old
Grand Trunk Railway at arbitrary fig
ures. considered unrea sonahle by the
owners. The people of Canada owe a
debt o. gratitude TO the shareholders
for their refusal to he forced
THE explanation Of the surrender OF
the Grand Trunk Pacific should be in
teresting TO the general public, II Will
probably he revealed that the company
advisers believed that arbitrary acts
of the Government in connection with
the road had given the Grand Trunk
Company the right In law and an incen-
tive to repudiate the contracts and go
to the courts for decision.
Whatever the outcome may bn II Is
to be hoped that the action OF the direc-
tors may make II more difficult for the
franchise manipulators behind the Gov
eminent TO carry out the scheme to ger
control OF the old Grand Trunl, Rail
way. II the trsnscontinental traffic IL
TO be at the mercy OF one private rail-
way In competition with one Government
road. that is bad enough. The bar
gaining that will result from / will
create conditions only little better than
would come from the entire nation alIza-
ton Of the railways OF the country
ON the other hand. the surrender of
the road may force the Government to
accept the shareholders price for the
old company and there will begin a
gloomy outlook for the people who want
to enjoy the blessings of healthy compe-
tition-"
The sun., 1919-03-11
STOCKS IN FAVOR ON
CANADIAN CHANGE
Paper. Power and Textile
Groups Show Particular
Strength.
SPECIAL Despatch TO TIE suy.


..t.i ...',,I ~, r ''lIe "a,
81 VI a'I ~ Vi tile Do'I''ilio'' 3
E va. ra"s .s 80 ,l'e oulS'aIlo.ils
LS's Az ~ W. . s'I'eSS on tne
= "lIaula" s'ocNs nave
peen III soou ueilahu ana number or
new hisn reeo'u prices were estabIished.
Ahe Pape'' Po"eI anu teNtile groups
IN Par',Su'ar HaNe oeeh IN 1aNor'
spanish RIVER WeIeTred at three point
ADVANCE 10 oV'% mas peen among the
"aners "r we !''Pe' sr"nP' oHy!nS being
simulated by the prospect that payment
The sun., 1919-03-11
Wire Extensions Made.

The president, l.. r. McFarlane. in
addressing the shareholders referred to
the activity of the year in the telephone
business, and to the diffculty OF labor
conditions which have been experienced
and which have made such large cut in
the financial results. Considerable ex-
tensions we're made, however, 2,Sss miles
OF wire being added TO the long distance
system. The number of company sta
lions also increase by 1894 during the
year.
Penmans Limited reported for the
year 1918 gross profits OF sl,e53,643,
from which operating expenses of $685.
Sl2 were deducted. leaving a net operat-
ing income Of sl,35s.3Sl. Further de-
auctions for interest on bonds, deprecia-
ton of plants. &c. totalling more than
S22l,000. brought the net earnings for
the year down to $1,15717l. Added to
tho total surplus reported at the end OF
-.hssaaG ious ysSk the -sIsR lus 81 the
company as of December 81. 1918, was
1905. 03e. OF this sum 100000 was
transferred to reserve account and a
similar sum appropriated for dividends.
bonuses. contributions for patriotic pur-
poses, war taxes, &c. leaving the balance
carried forward Ss50,l67.
The balance sheet as Of the last day
OF Ile year SHOWS lOlHl assets ana liaDtli-
ties Of $40, 466,4l5. OF these assets S.
043,ss3 are represented under the head
ing of current assets by cash, war bonds.
accounts receivable. bills receivable and
inventories. AS an offset 20 these cur
rent assets are current liabilities of ST.
SS9,64S, divided between unclaimed divi-
dends, accounts and bills payable. wages
and bank advances. This leaves the
company a working capital at the begin
ming Of business this year of more than
SO. 000, 900.
During the year, the report says, the
common stock dividend was placed upon
per cent. per annum basis. beginning
with the quarter ending April 80. The
company subscribed for 5000, 900 of Can
ada's Victory Loan bonds and also made
a number OF contributions to various
patriotic funds connected with the war,
and resolution will be submitted to the
shareholders for approval OF the direc-
tors action.
The sun., 1919-03-11
DOMINION REPORTS
SHOW PROSPERITY
Sun Life, Canadian Bell and
Penman's Limited Make
Returns for 1918.
EARNINGS BARE GAINS
Victory Loan and Patriotic
Funds Shared in In
crease of Concerns.
Special Correspondence TO TEE sux.

MONTREAL, March 1o.-Three important
Canadian companies have issued their
reports covering the operations for the
year ended December 81, 1918, and in
all cases they compare very favorably
with the earnings or the preceding year.
They are the Sun Life Assurance Com
pany, the Bell Telephone Company of
Canada and Penmans, Limited.
The Sdn Life Assurance Company re-
ports for the year an excess of income
over disbursements In the amount of 81
76l.6s1, which compares with S6.951,79s
In the preceding year. The principal
items of the report, as compared with
1917, are as follows;
The sun., 1919-03-11
BRAZILIAN TRACTION GAINS.
Good Statement Ia Made by Light
and Power Company.

MONTREAL, March 10.-Aggregate net
earnings of Brazilian Traction for 1918
show an increase of 5,05S,000 milreis
(about s2,S32,0 O0). Decreases in net
were confined to the first three months
OF the year as indicated IN the follow
Ing statement:
January, decrease, 100000 rilreis;
February, decrease, $4,000; March, de-
crease, 226,000; April, increase. $4,000 !;
May, increase, $4,000; June, increase.
1000: July. Increase, $4,000; August.
increase. l,193,00O; September, increase.
965,000. October, increase, $4,000; No
vember. increase. 231, 900; December, in
crease, $4,000.
Cross earnings fell behind in only one
month, November, and net earnings
showed n larger increase that month
than gross earnings showed a decrease.
The sun., 1919-03-11
ROADS REVISE TARIFFS.
Changes To Have Little Enect on
Lines Generally Used In Travel.

WAsHINGToN, March 1o.--At' the di-
rection of the Railroad Administratio ton
railroads are revising their passenger
tariffs to eliminate IN some cases tho
competition of rates over widely cir
cuitous routes with the rates of a direct
route. That the changes will make little
practical difference on lines generally
used In travel was stated to-day at the
Railroad Administration.
IN no cases will rates on longer routes
he increased higher than the competitive
rate of the more direct route II the
deviation is greater, the old rate will he
allowed to stand II there is considera BILE
travel over the longer line or there IL
any adequate reason for distributing
traffic between the two lines
The sun., 1919-03-11
New Orleans. Cotton Market.

NEW ORLEANS. March 10--Cortinued
covering of the short interest was the
main influence In cotton to-day and it
gave the market rising tendency from
the opening. Last prices showed net
gains for the session of 20 TO sc points
on the new. Old--Marci. 2s. zoe. May,
2s,7Sc.; July. 22.2sc.; October. 1889. :
December, 1850. New-March, 90 soc. ;
May, sS,sbc July, 22.45c. October.
20.60c., December 20.30c. Spot steady,
SO points up; aidalins. 77.1Sa
The sun., 1919-03-11
Raise Grain Freight Rates,

WASHINGTON, March 1O.-Increas ed
proportional or reshipping freight rates
on grain, grain products and hy-pro-
ducts from Western gnteways 10 East
crr destinations we've approved for fiink
to-day by the Interstate Commerce Com
mission. Increa SEES were approved on by
products of grain from points in central
territory, including points in Illinois and
on the Mississippi River to Atlantic sea-
board cities
The sun., 1919-03-11
NET EARNINGS DECLINE.
North American Co.'s 1918 Repor,
shows Drop TO sS.3s Share.

The North American Company &C.
cording TO the annual report issued Vas
terday, earned net income i'm 1918 after
taxes ard interest allowances OF sI.6O4
GA against slS03,56S in 1917, s2l6I .
as in 1915 and sl.SO4,777 in 1918. TbA
1915 earnings are equivalent TO $3.50 a
share on s29,7s2,S00 capital STOCK
against sS.o5 in 1917.
Tho companys undivided profits for
1918 were $3,46Sl5l, surplus after div
bends for the year being Sll4.<Os
against S313,9OS IN I9l7, S672.25s In
1915 and S3l5.ll2 in 1915.
The sun., 1919-03-11
Highest Surplus in History.

The Treasurer further announced that
Ontario this year has the highest sur
plus in its history. This surplus, ST.
s09. 900. represents an increase of $4,000
over the 1917 surplus, which was a rec
ord figure UP to that time. The total
revenue for the province In 1913 was
sl9.270,12S7i, an increase Of 81 ,0O0.526
over that for the preceding year.
In addition to the $4,000. 900 OF liquid
assets, Mr.. McGarry said, the Govern
ment has 100000 invested IN
public buildings throughout the prov
iSce. and $500, 900 900 OF other assets
which II could resolve into cash at any
time. Thus the total assets OF the Gov
eminent aggregated approximately 5000,
100000. which compares with total liza
bilities OF SIS 100000.
The province of Ontario. Mr.. McGarry
declared, stands preeminent in the finan-
cial world. both of America and .of
Europe. II had never gone into an un-
dertaking requiring large expenditures
unless assured of returns. either imme-
diate or remote. Last year, he said, the
province had never paid higher than So
per cent. for money borrowed and since
the close OF the war had done even bet
ter. Mfr. McCarry stated that he had
recently borrowed 100000 in New
York at - per cent. and had concluded
negotiations by which the net cost to the
Government for six months would be
only l.s2 per cent.
u would urge upon the Federal Gov
eminent" the speaker said. that 1t il
not too late to take up a great ship
building programme. We must soon
build vessels with Canadian steel and
Canadian labor. Canada will then soon
be sending goods throughout the world
in Canadian boats
I'm order that the maturing loans will
be taken up,' he continued. our new
loan requirements, including money re-
quircments OF the reconstruction and re-
patriation period viii amount TO ST.
900. 000."
The sun., 1919-03-11
ONTARIO FACES Big
FINANCIAL BURDEN
Expenditures Planned Nearly
Double the Estimated
Amount of Revenue.
PUBLIC WORKS AFOOT
Reconstruction Period to Be
Met by Big Budget
Next Year.

TORONTO, March 10.-With estimated
revenues for the year 1919 at s1s,40S.-
900 the province OF Ontario is faced
with the problem of raising $4,000, 900
more with which to provide for the ex-
penditures of the year. This latter fig
ure includes approximately sl1.000.0 600
which is to be spent on hydroelectric ex-
tension and development throughout the
province. This huge budget for which
the lawmakers OF the province must soon
find some provision is raised to its high
mark by the many special requirements
of the reconstruction period.
These facts were given the country
through an address delivered in'the On
tario Legislature by Hon. IT. w Nc
Garry. Provincial Treasurer. Mr.. Nc
Garry appeared before the Legislature
last week TO present his budget of the
1919 expenditures. and in addition to
disclosing the enormous expenditures
which are contemplated he gave the leg
islators a pleasant surprise by announc-
ing that the war tax OF one mill i'm
posed on the municipalities OF ontario in
1915 will not be again assessed.
The sun., 1919-03-11
Exports From n. Y. Last Week.

Wheat, $4,000 600 bu rye, 1,65U.Sl3
bu.; barley, l2595l Gu.; beans. 47S22
bu. pork, 5,064 hbls beef 5000 bbls (.
hams, 5,1O3,sOl lbs. ; tallow, 14,472 lbs /;
butter, 1,6s4,044 lbs. rye -four, 2,76S'
bbls oatmeal 3.SS4 bbls. bran, 7Ss, 900
lbs. hops, 81 bales; whiskey, 1861
gals. cottonseed oil, 12,729.497 lbs. III
brcating oil, 5,04O,407 gals. refined Pc
troleum. 2l.9l2,624 gals. naphths
9s76,407 gals. corn, S4S5 bu oats,
929, OILS bu. peas, 3,203 bu. 4; -four 1855
bbls. -four. S6,307 sacks hacons. al
s26 O7O lbs lard % S27 36 lbs stesr-
Inc, 459, $50 lbs. cheese, 1907 lbs (;
cornmeal, 6974 bbls, feed, 142 900 lbs. +.
grass seed, 3,6SS bags; hay. l4,SSl
bales; oil meal. 722,966 lbs. oil cake,
2,ssS,925 lbs, turpentine, s4,5S2 gals. ;
rosin, 22,6l4 0bls.. gasolene. $4,000
Rala
The sun., 1919-03-11
Navy seeks buttons

special Desp0tch 10 THE Sun
WAsHINGToN, March IO,-The BUREAU
OF supplies and Accounts, Navy Depart
ment, invites bids for opening March 81
for 100000 honorable discharge buttons
TO be delivered at the Navy Department
Washington, L. G, The buttons are TO
be same size, shape and design az the
present buttons.
The sun., 1919-03-11
Lower Western Ice Rates.

WAsU'Hc-o>', March i0,-Relief from,
the loug ana short haul clause was
granted ice shippers in Western trunk
line territory to- day by the InterstatA
Commerce Commission through a ruling
which provides that the lowest rate an,
pllcable by any route shall be applied Ia
~ other roufes
The sun., 1919-03-11

QUEBEC TO MODIFY
CORPORATION LAW
Provincial Companies Will Be
Able to Do Business in All
of Dominion.
MERGERS AUTHORIZED
Measure Facilitates Stock
MERGERS AUTHORIZED
Measure Facilitates Stock
Transfers and Liquidation,
but Protects Holders.
specsoi Correspondence 10 TEE suS.


TORONTO, March s.-A new law which
will facilitate the Incorporation, ANAL
samation by purchase, the liquidation
and transfer of shares and many other
important steps In making business
changes has been introduced in the Que
bee Legislature by Premier Gouin as an
amendment to tho provincial laws relat-
ing TO the Incorporation of companies.
One of the reasons advanced in support
OF the proposed legislation are the recent
decisions Of the Privy Council to the et-
rect that provii cisl companies had tho
right TO do business outside their prov
inces just the same as companies incor-
porated by Federal charter.
In reviewing the steps by which the
Dill was presented TO the Legislature
and commenting upon the support given
It by the Premier of Quebec the None
tdrv Times had the following to say:
Sir Lomer said the new law would
apply TO all companies formed in the fu-
ture, as well rs those that had been
formed since 1858, exception being made
TOT railway companies and for mutual
oeneht insurance companies, as we'll as
all those which existed by special legis-
laton' as. for example, mining COM
panies, telephone, telegraph, aaueduct
and other similar companies. The Gov
eminent had hes!tated TO put all com
panies under the same legislation be.
cause II was feared much Inconvenience
would result.
The sun., 1919-03-11

The statement of assets and Liabilities
shows bonds having a market value as
fixed by the Dominion Government In
surance Department of s57,170.S11, an
increase OF approximately 100000. as
compared with the last year. These
bonds have a par value of more than
SIC, 100000 and a ledger value of more
than $4,000, 900. Holdings OF preferred
and guaranteed stocks valued in the
same way amount to S9,052,534, as COM
pared with $7.sso,s97 last year. These
have a par value OF s1l.s0o,00O and a
ledger value OF more than s10,O00,000
Other stocks valued at s2,l3s,753 are
held. Mortgage loans on the other hand
have decreased from ss.l50.049 to 81,
754.70h Loans on policies have increased
by about 100000. The total net assets
are now s97,620,37a.
The sun., 1919-03-11

'Prices paid far bonds by Victory Loan
Committee when trading started
While weight must be-given to the tax
exempt feature in discussing the reasons
behind the strength OF these war bonds,
other reasons can also be advanced.
There is a pronounced scarcity of all
high grade bond investments in Canada
at present. Some government provincial
and the like) bonds floated last year
have risen to high premiums.
The sun., 1919-03-11
CANADA'S INTERNAL
WAR LOANS SOARING
New High Record Marks Are
Reached by Six of the
Eight Maturities.
NEW INCOME TAX FEARED
American Buying Attracted by
Premium on n. Y. Funds
Helps Movement.

MONTREAL, March 10.-The most In
teresting and significant feature of the
financial markets in Canada last week
was the further substantial rise in the
prices of the Dominion's internal war
loans. New high record prices were
established in six of the eight maturi-
ties, with prices up good sized fractions
TO better than one point for the week.
The strongest demand has been Tor
tho longer maturlties. A year ago,
when the Victory Loan Special Com
the redistribution OF the First Victory
bonds, the 1887 maturity of this 5i7
per cent. loan was being bought by
the committee from all sellers at 97Is.
On Friday tho bonds sold ct 105%,
which represents an advance of about
seven points from the net price to sub
scrlbers to the original loan in the au
tumn of 1917, and an advance OF close
TO four points since the turn of the
year.
The 1888 maturity OF the Second Vic
tory Loan. which yielded only 99la TO
sellers to the committee in December
last, brought as high as 1919 last
week.
As the outstanding issue Of each
maturity is probably about 100000
o0O. these are striking advances for
markets with the limitations of the
Canadian security markets. The scar
city of offerings as prices continued to
rise was notable.
Look for Increase in Income Tax.
1t may be that some accumulation
for the account Of bond distributing
houses was a factor in the buying. But
In large part it appeared TO proceed
from investment accumulation on be-
half OF large corporations and wealthy
individuals, nervous over the possibilt-
ties of a large increase in the rate OF
taxation under the budget to be
brought down soon In Ottawa.
Against the IL per cent. normal rate
OF the United states income tax meas
ure, as recently adopted, the Canadian
rate under the income tax act OF 1918
Is only . per cent. on incomes OF mar
ried persons between $4,000 and $4,000
and only per cent on the excess over
$4,000. While our scale may not be
raised SO high It is more than probable
that it will be raised TO a level approx
mating that in the United states
Hence some eagerness behind the buy
ing of these internal war loans, which
are free from ali Federal taxes.
In any event the bonds are selling to-
day at prices to yield only about sos
per cent. in the case of the longer ma
turtles, against about $50 per cent. TO
5. per cent. not many months ago.
Buying by American investors has not
been SO prominent a factor In the mar
ket as in the early part OF the year.
Comparisons of Prices.
Tho following comparisons OF prices
may be of some interest low quotations
for the bonds in 1918 being compared
with the closing prices in 1918 and the
high level reached lasr ErilaY:
The sun., 1919-03-11
Custom House Recetpt.,

Receipts for duties at the Custom
House yesterday were S540.S70o5, Of
which Sl52,16S.71 was for merchandise
withdrawn from bonded warehouses and
ssse "a "a epr --@~~A-,t i',,~c-'s .1~--
The sun., 1919-03-11
MARINE INTELLIGENCE.

MINIATURE ALMANAC.
United States Coast and Geodetlc Survw-
Standard Time.
Sun rises.....6:16 A NJ sun sets. ..b:H ~
Moon sets. NJ
HIGH WATER THIS DAY.
Sandy Hook. .s:17 A NJ Gov. Island. .t:oi A -
He'll Gate...... 6;U A NJ
Low WATER THIS DAY.
Sandy Hook. on A NJ Gov. Island 1888 N
Hell Gate. .....12:06 A NJ