The New York herald., 1921-05-10
RETAIL MOVEMENT
IN CANADA LARGER
Unusual Run Of Fine Weather
Is Also Impetus to Work
i'm Factories.
specsa. Despatch to rHs New YoRK HERALD

Special Despatch to THE NEW YORK HERALD.
MONTREAL, May s.--The unusual run
Of fine weather throughout Canada this
spring has meant a great deal to gem
eral business and already It's good ef-
fects are being felt At retail larger
movement of goods Is reported and fac
tories are buster. Navigation is active
and a generally more optimistic feeling
prevails.
Leading bankers and economists are
giving much thought to the country's
future and are doing their best to keep
its financial position sound. In view OF
the complicated railway situation and
the fact that Canadas debt is large.
they state that Canada can adopt one
measure that ultimately will correct
those conditions. and that is to expand
solidiy. Instead OF cutting down the
railways she must grow to keep them
whole. immigration OF the right sort
must be encouraged Canadas popula-
tion Is In the neighborhood OF 100000.
In the line of normal growth II should
be nearly 100000 five years hence,
according to one calculation. and there
is plenty OF room for that growth.
Reduction of money rates In London
and several cities OF the United States
is viewed here with satisfaction and
has done much to cheer sentiment.
Conditions in England and the United
States react on Canada and signs that
financial and commercial conditions
here are definitely on the mend are not
lacking
Canadian money in the United States
has shown a hardening tendency of late
and that change is viewed with a great
deal OF satisfaction here. 1t has been
the aim OF Canadian business men to
get the Canadian dollar back to par or
near there, which probably will take
time, but the development is one that Is
rapidly taking form and is regarded as
healthy sign Of the times
The Canadian Pacific Railway share
holders meeting here this week was a
notable event. e. w. Beatty president
of the road. definitely stated that an
offer had been received from London In
terests to buy block OF the per cent.
consolidated debenture stock. One re-
port places the amount at 100000
The stock market here has shown
some betterment of tone of late, espe-
cially in the list Of public utilities. In
which It IS stated that heavy investment
buying Is taking place. Recently several
Of the leading issues in that group. in
cluding Montreal Power and Shawinigan
Water and Power, have advanced sharp
ly minor issues following their lead.
The Toronto Stock Exchange adopted
last week the decimal system or trad
ing In Victory and War bonds. with a
spread OF s cents between quotations.
Following that action, the Montreal
Stock Exchange changed its system and
placed the spread at only cent. In
yestment circles highly commend the
action, as it makes for regulated and
safe market. eliminating much outside
yrnt trn4 4fru Tn
are quoted in dollars and cents instead
OF points and fractions.
Canada Steamship Lines shareholders
are called to a special meeting for
May IA to approve the issuing of first
mortgage bonds Of more than ss,Oo0,00o
to bring the total issue up to SIS, 600.
against which will be borrowed money
at per cent. but not exceeding
s., ,0oO, 600
The Canadian Salt Company has
placed 100000 of per cent. general
mortgage bonds, due in 1e41. in Mont
real. A Toronto syndicate bought the
IS 900 900 Of Province Of Ontario s per
cent. fifteen year bonds at 1894. Pub
lie offering Of them Is being made at
99.5 so, to yield Cos per cent The city
of Oshawa. Ont. has sold $190,257 OF
fifteen and twenty year instalment
bonds on a $50 per cent basis to a
Toronto syndicate. A Montreal cor
poration bid successfully for the s1,500,-
900 Of Greater Winnipeg Water Dis
trict per cent thirty year bonds. the
price being 94.16. The bonds are pay
able In Canada only and proceeds VIII
go to repay the short terms maturing
In New York on July l. The Province
OF Manitoba has sold s2,500.O00 of . ~
per cent treasury bills to banking In
stitution. A Montreal bidder was sue
cessful In obtaining the st. Boniface.
Man, issue os $2sS.oo0 ten. fifteen and
thirty year per cent bonds.
The Hollinger Consolidated Gold
Mines Is asking authority TO develop
IS. 900 horse-p power at Kettle Falls, on
the Abitibi River, twenty-five miles
north of Cochrane, Ont.
Canadian exports OF pulp and paper
In March were valued at s12, ,407, ,476,
against st1.Sss,79s a year ago. a gain
Ia yaitfe os x738.660