The sun., 1919-05-13
TORONTO EXPECTS
BULL MOVEMENT
Many Buyers Turning From
New York Market to Ca
madam Securities.
Special Correspondence 10 TIE Sun


TORONTO. May 12.-ConclusEe signs
OF bull movement have been evident
on the Toronto Stock Exchange during
the last week. New York's speculative
boom has attracted much attention from
here OF late. and even more II has at
tracted the money OF Canadian specu-
iators. Local brokers are almost over
whelmed with orders for the New York
market, and many Of the more venture
some spirits have reaped small fortunes
from their buying of oil stocks in the
last few weeks.
There Is some doubt now as to the wis
dom OF following the upward prices in
oils, and some OF the buyers are turn
Ing to Canadian securities. The heay-
lest trading Of the year has taken place
on the stock and mining markets here
during the past few days and there is
I every indication that the rush of buy
ing will continue So far. there is no
definite choice Of stocks as favorites,
the buyers apparently picking up spe-
ciaIties which seem too low or about
which there is some news that would
| promise them a rosy future.
Milling stocks have been strong. es-
pectally the Maple Leaf, which has a
| large chain Of -four mills in Canada
News that the Wheat Export Company
hau placed Sutncicnt orders with the
| Canadian flour mills to keep them going
at capacity TO the end of June has helped
| this class of security. In fact, Maple
Leaf. which has been a generous dis
| tributor OF profits. even as high as %
per cent. last year. including bonus.
| reached Its highest stock market quo
| tation this week at 100 Even this does
not seem high, considering its lavish
dividends.
Canada Steamships, both common and
preferred, have been active traders.
chiefly on the news of an extended At
lantic service for this company. which
| virtually has monopoly OF the Can
adam passenger service on the Great
Lakes.
Another favorite has been Brazilian
whose big traction and other enterprises
In south America have had dull times
! from war conditions and the low rate OF
! Brazilian exchange Brazilian is a IA
vorite with Canadian spectators. prob
ably on the theory that when the aver
age man enters the stock market for an
| adventure. the further away the prop-
| erty the more Interesting the experience
: braEiian's head office is in Toronto
and II has many friends here who are
acquainted with the enormous and ex.
tensive plants at Rio. Recently BRA.
lillian exchange has improved. and, with
| a feeling that South American trade
! conditions have touched bottom and can
only change for the better. there is a
return to this security which Is now
sold around 5s
| Steel stocks have had sporadic bursts
of recovery. but they cannot yet be said
to be reestablished in favor. Nova
| Scotia and Dominion Steel are IN a maze
| or dispute over coal areas on the east
coast Of Nova Scotia, and until that is
settled the public cannot see clearly
| Several other steel mills are In need Of
| orders to keep them going profta bly,.
Canadian railways nre badly In need
| OF rails for renewals and construction
SO that in course OF time there should be
plenty Of work for the mills. Such a
factory as the Dominion Foundries and
Stoel Company has just reaped large
benefits from n profitable settlement
with the United States Government on
| a munitions contract and the stock is
! stronger as consequence.
Bank stocks have not been active OF
late, but they have held their own in
price and in some cases have made de-
cided advances. War bond trading Is
irregular but the bonds have held their
| price well, with the longer term issues
| well above par