The sun., 1919-04-29

joyed an exceptionally placid situation
with respect to employment. The main
point at issue In the carriers strike Is
recognition Of the union, and the issue Is
being fought out on familiar lines, for
tunately without violence. The effect on
business has been serious enough,
however, as Montreal is a large distrib-
uting centre not only for the rest OF me
province but for the whole of the Do
lninion. Goods have piled up on the
hands OF the railroads and the whole
salers, and in suburban districts the
crippling of distributing facilities has
caused some uneasiness as to food sup
plies.
Rubber Report Received.
The most important report issued dur
ing the week by a Canadian corpora
tion was that of the Canadian CONSOLE
dated Rubber Company, control of which
Is vested In the United States Rubber
Company Total sales Of the company
at S1s,785,640 showed an increase OF
about Is per cent. over the previous year
and established a new high record. Net
profits after all deductions for interest,
war tax. &C., amounted to S1,604.S51.
against s1.20s,019 in 1917. After al
lowing for the preferred stock dividend,
the SJalance earned on the common, on
which no dividend Is being paid, was
46 per cent. Total assets at s26.30b,-
343 showed an increase Of about $4,000
900 in the year,
1t Ia estimated In financial circles that
approximately s25.o00.o 900 will be dis
tributed In interest and dividend pay
ments in Canada on May /. The prin-
cipal factor in the large total for the
month will be the payment Of the first
coupon on the second Victory Loan Of
last autumn. This, without allowance
for conversions, on which there are no
definite figures as yet, would amount to
about 31S.00O,000 alone. As consid-
cradle proportion OF the disbursement
will find its way back into the security
markets. prices for high grade bonds
and stocks are being well maintained on
tn, stock exchanges, despite the recent
slackening of American buying.
Statistics relative to the growth Of the
pulp and paper industry in Canada show
that the value of the pulp and paper
products exported by Canada in the
twelve months ended March al last was
s71,755,S25, as compared with about
$40 900, 900 In the year ended March 81.
1910 1t was only twenty years before
that exports OF these products began to
figure in the country's trade returns.
Canadian output Of newsprint Is draw
ing close to the production Of American
mills, the March output OF 62,s5l tons
In Canada comparing with 93,S17 for
the United States.
The big markets in New York in the
last week stimulated a more active par
| ticipation by the public in Canadian Sc
curities and in midweek business ex-
panded to the largest proportions in
more than a month.
The groups Of stocks that are taken
| as standards In the market, however.
groups such as the power and the steel
| stocks. displayed but little animation
| and prices showed comparatively small
| changes at the end OF the week. In
| that respect the market continued TO re-
| feet TO q considerable extent the condi-
lions prevailing in Wall Street. where
. United States Steel has moved within
narrow limits and the railroad stocks
have been more or less neglected. while
| specialties of all descriptions were being
| doomed.
Demand for Stocks.
In the Canadian list the chief feature
| was broad demand for low priced
1 common stocks such as Tucketts To-
! bacco, Dominion Gamers, Spanish River
| Paper and North American Pulp. These
at their best prices Of the week showed
gains Of about l to 8 points. Breweries
also continued prominent. adding at 70
6 points to It's previous high record
| price after scoring a 40 point rise in the
month preceding
| The failure OF Montreal Power direc-
tors to increase the dividend resulted in
some selling pressure on that stock in
! the early part of the week. a decline OF
about 3 points. to S9i2. following the
| dividend meeting. AS the deferring OF
| a dividend increase was attributed ia
| the unsettled labor situation within the
company rather than to earnings the
loss was largely retrieved later in the
week on the theory that the dividend
will be increased at the next quarterly
meeting. Tho other power stocks held
steady 10 firm. but transactions were ir
| smaller volume than recently. The
same was true of the steel group. which
rose and fell within the limits of small
! fractions.
Flour milling stocks came to the from
toward the end OF the week, Ogilvie ris
ing 2. 10 2l7: Maple Leaf 6i.. to 1t5k
| and ST. Lawrence 2. to 80, buying being
promised on the better outlook for ex
port business, together with gossip as tc
the likelihood OF an advance in hou
prices. The activity in the low priced
| North American Pulp, which rose from
5 to s. to relapse TO SIS on Friday. wa
symptomatic Of the revival Of optimism
toward the pulp and paper industry
The mills are again operating on clos
to a capacity basis after n brief perioC
of curtailed production in midwinter.
The bond market continued broad and
moderately active. with industrial issue
moving forward and Government issue
holding firm.