The sun., 1919-05-20
STOCK EXCHANGES
ARE KEPT BUSY
Heavy Trading at Montreal in
Specialties-National Brew
cries Up Al Points.
MARKET FOLLOWS n. Y.
Sustained Strength Is Salts
factory Feature Of Week
Records by Paper Shares.
MARKET FOLLOWS N. Y.

MONTREAL, May 1e.-The further ex-
tension of the bull movement on the
Canadian stock exchanges resulted in
the past week in the broadcast and most
| active markets since the autumn OF 1916.
when the war boom eliminated. Trad
ing toward the end of the week ex-
panded at Montreal to totals Of between
$4,000 shares and $4,000 shares daily.
against an average of less than 5000
| shares In the dull markets Of the winter.
Specialties continued to furnish the
spectacular features Of the business,
National Breweries again standing out
prominently by reason of q rise Of II
points, of which 90 points fell within
one days business. The most satisfac-
tory characteristic of the trading was
the sustained strength OF the market In
all directions. Pulp, paper. cotton and
milling stocks were notably strong
groups at new high record prices; the
steels, which had Jagged for many
weeks. picked up slightly and at their
bes: showed advances of to 4 points.
Power stocks held firm, with a new high
mark in the case OF Laurentide Power.
Obviously the market owed much Of
It's great activity and-strength to the
further progress of the rise in market
values at New York. AS noted q num-
Der OF times in these dispatches. the
sympathetic influence of Wall Street
sooner or later controls the shifting OF
market prices on the Canadian stock
exchanges. The market Is slow to fol-
low New York decline and equally
slow to follow a New York rise. But
there Is no important period Of liquida-
tor. Of accumulation OF securities at
New York without corresponding
period on the Canadian markets. These
| movements too. are logical enough.
II Wall Streets action foreshadows
| change for the better or for the worse
| In business conditions in the United
| States, the change that Is being fore
| Swallowed Is one that eventually will be
! realized in Canada Business In one
country cannot be good, while bad in the
| other and vice versa Presently the
| reading OF the markets course in both
| countries Is that q period OF great
activity In business lies before the con-
| tinent as q whole
The greater activity OF the past few
| weeks has been assisted by growing
| ease in money resulting from the liQuida.
ton of commercial loans. Grain anc
| other commodities carried In Canals
| over the winter months are now movtnf
| freely from the St Lawrence ports ant
| so releasing credit tied up since the
autumn. Investment buying continues
substantial and because OF that the
technical position Of the market Is con-
| sidered sound.
A few stocks like National Breweries
| which has now scored an advance o.
| more than 100 points In two months
appear to have induced some top heav!
speculation, hut the imitation In tn.
standard groups has been moderate and
according to good opinion, market vaiue
are not high In comparison with intrinsi
| va lues and earnings.
The war loans have been less active
but continue to hold within fractions
their high record prices.
The following table gives the tota
sales. high, low and last prices and ne
changes of all stocks and bonds trade'
in on the Montreal Stock Exchange 10
week ended May II. 1919;