The New York herald., 1921-04-12
SEE INDUSTRIAL
REVIVAL IN CANADA
Demand for Staples Reflected
in Manufacturing Districts
Of the Dominion.

spec.ol Dsspotcla 70 THE NEw YORK HERALD
MONTREAL, April 11.-Canadian indus
try Is showing further signs or sound
revival IL reports coming from whole
saiers can be relied upon. The demand
for staple goods is showing better
rnent which is being reflected in the
manufacturing districts. While the
movement "a by no means broad one,
IL may be taken "a Indicative or a
brighter prospect for the coming au-
tumn. In a general way money is be-
coming somewhat freer. which tends 70
give a more cheerful appearance 10 cur
rent trade operations.
Tho downward course which has been
pursued in the premium on American
funds in the Canadian market during
the last month is viewed with satisfac-
fion, although the belief is that this con-
dition cannot be regarded as permanent.
In fact a further hardening in the cx-
change rate Is expected before further
downward adjustment will be noted.
The rate decision for the Bell Tele-
phone Company OF Canada, Limited.
which was handed down recently, clears
the air In that connection and allows
the company general increase or 10
per cent. over and above current rates
charged. The company needs the money
and is apparently quite satisfied with
the award, despite the fact that its
early request was for much more. The
award assures the company of earnings
of per cent. on its outstanding capital
stock. as well as surplus of at least
per cent New equipment installation
and development will be proceeded with
Immediately. The president Of the COM
panv says the company soon Will be in
the market for loan. Gossip Is that
the new financing will be for s5.000,oo0.
- n,,+o III 10
Canadian provincial borrowing record
for last year. Following the sale re-
Gently OF s6.000.o00 of six months treas
ury bills bearing per cent, an addi-
tional 100000 of the notes was placed.
making the total issue s10.0000 900. prac-
tically all of which has been disposed
OF to the public This year to date the
province has borrowed s36,000,000 and
will be in the market for another
$50 .000 900 before the end of the year.
Nearly all OF the money is for hydro
electric purposes. this being used at the
rate of 81, 100000 month.
The Laurentide Power Company. Lin
tied. has sold an issue of s1.500.00o Of
per cent. fifteen year general mortgage
bonds TO leading Canadian life assur-
ance company. Proceeds of the issue
will be applied to adding 10000 horse
power to the company's electrical power
output, all OF which will be absorbed
under the existing contract with the
Shawinigan Water and Power Company.
Limited Laurentide Company. Limited.
the paper company. controls the power
organization, owning s7,o00.oOo of the
outstanding capital OF s1O.500,000.
The city of Outremont, adjacent to
Montreal. proposes to issue S750.000 of
thirty year 5L per cent. bonds the pro-
ceeds to be applied to various improve
ments The bonds would be dated May
I. next.
The Winnipeg School Board win
shortly come into the market with an
offering OF 81. 900. 900 of bonds, proceeds
OF which will be used to cover two
year building programme. The Lauren
tian Power Company has placed $1,000
600 of new per cent. bonds with
Montreal investment organization.
The Canadian subsidiary of the Union
Bag and Paper Company, the st. Maui
rice Paper Company. Ltd. has Issued its
annual report for 1920. Net profits
amounted 70 si.76a,ssS, against $685.
a24 ia 1919. equalling 22.6S per cent
earned on the outsts nding capital stock.
against I127 per cent. year ago. Out
standing capital was increased from
s5. 900. 900 TO s7,S99,s 800.
II is understood that Canada Steam
ships Lines, Limited, which contem-
plated an issue OF SIC, 100000 OF bonds
In the London market, will abandon the
plan owing to the troubles existing in
Great. Britain. The company proposed
10 sell mortgage bonds bearing per
cent at 20 or thereabouts. Working
capital is needed by the company. and
II is supposed an attempt will be made
TO raise It either in Canada o. in New
York