The sun., 1919-10-28
COAL STRIKE HITS
MONTREAL STOCKS
Market Loses Yig0r Near Close
on Reports From Wash
ingt0n.
EVEN PAPER AFFECTED
AbOrtive Ball Movement in
Steamships Common Fea-'
ture of Week.
EVEN PAPER AFFECTED
Special Coyresp ondence to the Canadian
Section Of THE SUN.

Special Correspondence to the Canadian
Section Of THE SUN.
MONTREAL, Oct. 27.-The local stock
market continued its exhibition OF en-
ergy and confidence for Ave days of the
week just expired and only lost its
vigor on Saturday when the failure Of
efforts to prevent the bituminous coal
strike in the United States caused reac-
tion in New York. And Notwithstanding
Saturday 3 recessions most of the stocks
on the list closed considerably higher
than at the end of the previous week.
The strength which has showed tself
during the last few weeks In particular
issues or groups or issues still refuses to
spread to a wider area. The stocks
which rose during the last week were
the same stocks which have been ris-
ing for several weeks previous. Papers
were the most conspicuous. and in the
middle of the week several of this group
achieved high records which they were
unable to maintain when the sag came.
lWayagamack, for example, did Il
point rise and lost 6 of It: Abitibi a
| further point rise and lost Lauren
! tide 13 point rise and lost Z. Those
which had exhausted their rising power
in the previous week lost a point or two
in the closing trading and consequently
| ended lower than they began. These
| included Brompton, Riordon and Span
| ish River. The market for the papers
| is undoubtedly tired, and while no inn
| portant recession need be feared unless
! the whole market breaks somewhat vio-
lently. there does notsseem to be much
| room to expect further rises just at
present.
The most interesting feature of the
week was the abortive bull movement
| in Steamship common, which had the
misfortune to be pulled off on Saturday
| and therefore lost the fair weather of
the early part of the week and ran into
| squalls blowing from New York. That
| a movement of this kind was~practically
| certain and fully justified has been
pointed out in this correspondence sew
| eral times in recent weeks. and II will
| assuredly be pulled Off more effectively
| in the near future. But on Saturday,
| after running the stock up by one point
jumps from 6S to 75. it met with SELL
ing orders which jammed II down below
20 again. The ammunition Of the bull
campaign was report that the dividend
wou d be raised to s per cent. for the
last quarter of the year and per
| cent. bonus added. Whether this is true
| or not the stock is entitled to better
price than 70 on earnings. prospects and
value Of assets. The other excitement
of the week occurred earlier in the shape
of report that the Lyall motor. which
is expected by the bulls to revolutionixe
the cheap automobile industry, had done
very well in some important tests This
gave the stock total rise Of II points,
of which it still held when the mar
ket closed. Ames Holden and Asbestos
also gave exhibitions. of fireworks early
in the week and We're still about and
10 points to the good respectively at the
end.
No attention was paid to the steels or
TO various other industrials about which
there was lack of gossip. and the
utilities were completely neglected, as
they have been for long time. 1t can
not be claimed that there is a general
bull market as long as Montreal Power
remains at 80 and Quebec Railway, in
spite of definite steps toward a fare in
crease by the City Council. weakens a
| fraction to 23. Detroit Railway was an
exception with a rise Of points, bat
| the market for Detroit is no longer made
| in Montreal and scarcely anybody here
pays sufficient attention to 1t now to
| inquire what the rise was about.
The following table gives the total
| sales. high, low and last prices and net
changes of all stocks and bonds traded
in on the Montreal Stock Exchange for
the week ended Oct. 25: