The sun., 1919-10-14
TORONTO MARKET
STRONG AND FIRM
Another Buoyant Week in
Stocks Reflects General
Business Activity.
WARNING NOTE SOUNDED
Head Of Imperial Bank Points
to Artificial Factors In
Present Situation.
WARNING NOTE SOUNDED

TORONTO, Oct 13.--we have had an
other week of buoyancy in the stock
market, and Il must be said that, gem
orally speaking the favorites have been
the. more solid type of stocks. Perhaps
rejecting the general activity In busi-
ness, and perhaps Indicating the large
supply OF money available for investment
or speculation, the market has gone on
with steady strength from day to day.
Almost all forms of business report
plenty OF orders, and good collections.
warning voice. however. comes from
General Manager William Mofrat, Of
the Imperial Bank, who. on returning
from the West, fears too much depend
ence Is placed on a condition somewhat
artificial In other words, Western
buoyancy Is partly the result of the
wide distribution of money by the Gov
eminent in the form of gratuities to re-
turned soldiers and in other grants
This is practical illustration of what
would happen through a wholesale con-
tinuance OF that policy Of gratuities as
demanded by a section of the veterans.
Too many. men would cease to be pro-
ducers, while the money lasted. even
should the raising of the money be a
possibility, and there would follow re-
| suits positively dangerous to the coun-
try. Sir Thomas Whites warning to the
committee at Ottawa during the week
| enforned this point, and has caused
much sober thinking.
A staid old stock like Canadian Loco
| motive common was the market leader
u Toronto for the weef with sales OF
| almost 5000 shares and a gain of
Joints at the close at par, though II
( iad sold as high at 1864. There was
| some gossip of increased dividend here
but semi-official statement made II
plain that a company that had strike
on it's hands for four months Of the
summer was net In a position to dis
| tribute more profits for some time &c
come.
| Another stock to catch the fancy wa:
brazilian, which, after selling as high
| as 56. reacted to IS, mainly, II Is be-
lieved, through thu position Of the stoci
In London, which at current prices coult
be sold In Toronto at 48 under the pres
ent position OF exchange.
A group of stocks to show grea
strength during the week were F. "
Burt, both of which issues made a II
point gain, w. A. Rogers. the preferred
advancing and the common 2. anC
Facifio Burt. in which there was littl'
change at the end OF the week. Al
these companies are headed by 8.
Moore. and are known to the Street a
1.-The Moore stocks" The companies az,
all said to be doing well. and revivint
from war conditions.
Steels have not had the prominence 4
10 thought they deserved. as It is diff
cult to see how the steel companies
would fail to benefit in some way b,
the strike In the United States but when
ever steel stock makes an advance o.
one or two points some people star
selling, and the price goes back. Do
minion Steel. however, moved up pas
the 20 mark again. and Steel OF Canals
common sold as high as 75h. The papel
group were strong nearly all week. will
Spanish River common leading with &
point advance, Brompton points ant
Toronto Paper Az.
In the mines market there continue
steadiness In price, with n rela.ivel,
small volume of trading. Kirkland LAX
mine managers are having 4 slow tim
in resuming operations, owing to tn
failure of the men TO return after the.
had voted by a small majority to con
tinue the strike. An interesting an
nouncement of the week was the state
ment that Hayden. Stone & Co. and f c
Jackling were about to exercise thei
option on the Film Flon mine, an enor
Gus low grade copper property In north
western Manitoba. This will mean much
not only to the Province of Manitoba bu
to the mineral development of the coun
try as a whole, as II Is estimated tina
| $500. 900, 900 in minerals can be recovere
from the ore already blocked out.
The following Is a summary of tn
J transactions of the week on the To
l ronto Stock Exchange: