The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-03

ments of disturbance in the American
labor Observation-Disclosures that had beer
weeded out and dealt with sharply by
United states authoritiesAand It was
slow to meet the situation brought about
by the defiance of the Government'f
right to maintain public services, such
as the mails.
Whatever the settlement finally
reached. 1t may be taken for granted
that higher wages and shorter hours Of
work are In prospect The vicious circle
OF high cost of living will be enlarged
Instead of the de1ation looked for with
the ending of the war, further imitation
Is presently in view. with no relief pro.
bable until Europe's shortage of food
stuffs 10 relieved and the surplus Of
production here becomes something more
tfan a mere surplus for purposes of ex-
port
U. 8. buying Canadian Securities
| Further indications Of reyivins inter.
| est In Canadian securities on the part
Of American bankers, now that the Vic.
| tory Liberty Loan Is out of the way, wat
furnished last week In the announce.
| ment that the National City Company
| and Harris, Forbes & Co. had purchased
| 100000 three year per cent bonds
OF the Province of Ontario. In all, the
National City Company. since it's debut
In Canada in January, has participated
in the purchase of some $4,000, 900 bonds
Of the Province Of Ontario. A moder-
ately easier tone In New York funds,
which were quoted at 2es to 2N prem
FUN toward the end of the week. re-
Elected in part the forward movement of
Canadian goods for export to Europe
and in part such financial transactions
as the one referred to
The Merchants Bank of Canada, pre-
senting last week its statement for the
year ended April 80, reported new high
records In total assets and in net profits
earned. Assets advanced more than
s25,0o0,ooo to s166,725,404. II IL only
a few years since the hank was grad
uated into the hundred million ciass
Fronts after the deduction OF all ad-
ministration charges. and all charges
prior to dividends. with the exception
of n war tax Of $4,000 on circulation,
amounted to $1.3S3.569, equal to 1915
per cent. earned on the paid-up capital
stock. against s1.23s,es1. or 1886 per
cent. a year ago. A feature of the
statement was the showing that de-
posts increased s25,oOo,ooo, with close
to $16.000,000 falling under the head OF
Canadian savings deposits.
The effect Of the buoyant markets in
Wall Street on speculative sentiment in
the Canadian markets was largely neu-
tralized in the last week by the spread
Of labor unrest from Winnipeg to other
industrial centres.
While the industries in which the
Montreal market Is chiefly interested re-
main largely unaffected by western de-
velopments-even Eastern developments
such as the strike at Toronto-the mar
ket appreciated that the possibilities
were disturbing. Declines and advances
alternated according to the interpreta-
ton placed on the news from Winnipeg.
At the end Of the week the changes
In prices were for the most part I'M
important. A breathing spell. in which
note might be taken OF the course of
events in the labor situation, was af-
forded by the decision to close the ex-
change on Saturday. the holiday In New
York affording convenient excuse.
Pulp and Paper Stocks Active.
The chief features of the more re-
sricted business OF the week were pro-
vided by the pulp and paper stocks. The
larger producers thus far are out of
the zone Of labor trouble. and buy
ers OF stocks were disposed to take
the Flew that whatever the outcome of
the Winnipeg trouble the prosperity OF
this industry would not be affected to
amy important extent Issues such as
Spanish River common and preferred.
Brompton and Laurentide sold at their
best prices OF the year and held most of
their weeks advance.
The milling group also displayed
strength. Ogilvle at a new high Of 257
renee at fairly wide range OF fluctua-
Nova Scotia Steel came into greater
prominence, touching it's best price OF
tho year. This steel stock, however, is
largely under New York influence and
| stocks like Dominion Iron and Steel Com
pany OF Canada, dependent on purely
Cana dian influences, fuctuated but mar
! "owly and uncertainty IN response to the
| Ia Dor news.
In general the market was inclined u
| move cautiously. The undercurrent Of
| feeling was optimistic with regard to the
| labor trouble. but large traders were
| more inclined to take profits than to ado
to commitments in Industrial stocks.
Speculation for the rise In the pre-;
] ferred stocks of industrial companie.
found some encoura cement in the an
| nouncement at the end OF the week tina
both Atlantic Sugar and Ames Holder
McCready had been placed on a djv!dcat
basis. The quarterly declaration of q
per cent. by fhe former company ls tn,
A, st made. the stock being cumulativ,
from April. 1915. Ames Holden Nc
Cready suspended payments on the pre-
| ferred in the autumn OF 1914 and nov
resumes with quarterly az per cent
| The passing OF another war measur,
Is denoted by the decision OF the Mont
| real Stock Exchange to remove the mini
mum price barrier. beginning with to
| day. .Minimums were established fo
| the second time in the war period in tn,
autumn of 1917. when the curtailment o.
credits by the banks. due to the immi
| hence OF the First Victory Loan. SUP
| iscted the market to a period of drasti,
liquidation.
| Another decision of interest is that Il
mako the commission to members OF thu
New York Stock Exchange one-quarte
Of l per cent. instead OF one-efghth. nj
| formerly. New York could not see II
way TO grant Montreal a preferential
rate when New York commissions wer,
advanced few weeks ago. Montreal
therefore. came TO the decision that ther,
was no good reason why New Yorl
brokers should not pay the same rat
as the general public for business don,
| in Montreal.
The following table gives the tota
sales, high. low and last prices and ne
changes of all stocks and bonds TRADED
| in In the Montreal Stock Exchange fol
week ended May 80. 1919. Exchang,
closed last Saturday:
sal.s, stocks High. Low. Last. Gigs
I56 Abltbi La 80 50 50 -:
IDS Asbestos G 9 Etd 81 ss1 81" ~
50 ASIDE Z none pf 70