PAGE Sx. Municipalities May Have te . Take Lower Figures. BREAK IN PRICES CAUSES CHICAGO BANKS ~ Tt ISSUE NEW CALLS, Figures for the American Telephon and Telpgraph Company--Canada Interested in Big Fruit Sale--} Mining Company Has Been Form ed at Tweed. Toronto, July 19.---According to #.CH. Manley, general manager af the Canada Securities Corporation, Limited, who recently returned from abroad, financial affajrs in London | y are in a very tired condition with prospects of this condition becom- ing intensified during the next few weeks, when the regular holiday season sets in, "There is a vast amount of securities still on the underwriters' hands," Mr. Manley stated. "Last year issuing houses were having a splendid time. The public was in a very receptive mood and great success attended the of: ferings of the better houses, in fact, second rate issues had a good run of luck. Since the first of the year things have changed, and, instead " of the public taking 70 and 80 per vent, the balances not applied for have increased from 20 to 30 per cent,, up to 90 and 95, as has been the case in several issues during the last two months. The market for Canadian municipals is at a stand- still, and it appears to be the con- sensus of opinion that Canadian municipalities will have to take a lees price for their intended bonds or raise the rate of interest." " O-- More Margins On Wheat. ™ Chicago, July 19.--The big break in the price of wheat, corn and oats has caused the banks to make addi- tional calls' for heavy margins on the long wheat held im,elevators and by speculators. Wheat has jumped . fifteen cents a bushel in six weeks and the prediction is that Septem- ber options now selling at 84 will . hit 90 cents. . The biggest crop of spring wheat ever raised in the Northwest is ready to Qarvest. The government report as te July 1 will put the crop at 271,000,000 bushels. Local houses who have experts in the field say the crop will be over 320,000,000 bushels and that the total whéat crop, winter and spring, will 'approach 760,000,000. Dividend On Stock. A wire from Toronto says that a dividend at the rate of seven per cent. per annum has been declared on the preferred shares of the Mon- arch Knitting Company for two and a half months, ending July 31, 1912. Dividend 18 payable August 1 to shareholders of record July 20 next. American Telephone and Telegraph a Figures. Montreal, July 18.--The Ameri- can Telephone & Telegraph figures for the past six months are out, and are of considerable interest to Can- adians in view of fhe relationship which exists between the Bell sys- tem here and the older company. It is said that the parent corporation earned a balance, after dividend, of within less than $50,000 of the figures of 1911, and this after al- lowing for an increase of $1,300, 000 eon dividends paid, due to the larger amount of stock outstanding as a result of the gale of $55,000, 000 new stock in June of last year. Depreciation charges of the Bell system are this year running at the rate of over $32,000,000 per annum, compared with about $28,000,000 in 1911. The absorption of indepen- dent telephone companies through- out the country is also being con- tinued on the other side of the border, and one might expect that the same policy would ¢be pursued in Canada. Such, however, has not been the case, the company here apparently being more anxious to get rid of certain rural lines than to acquire more. It is hinted, how- ever, that this policy in Canada 'will shortly be changed and that wholesale purchases of small rural and independent telephone lines will shortly be announced. po Canada Interested. Montreal, July 18.--The big suit pending in the Republic of Colom- bia betwéen the United Fruit Co. and the Atlantic Fruit Co., is of in- ierest here, because the companies involved supply the bulk of bananas and other tropical fruits consumed in Canada. It is not generally known that the general ma of the United Fruit Co. is -W. E. Mullins, a Canadian. Mr. Mullins spent several years with the G.T.R. in Toronto, as chief assistant to E. E. Fitzhugh before the latter was elevated to the presidency of the Central Vermont Ry. He was subsequently general manager of the Costa Rica Ry., which. is owned by the United Fruit Co. Humidity Against Canal. Montreal, July 18.--In railroad circles there is considerable agree- ment with E. J. Chamberlin's view that "very little Canadian traffic will go by the Panama Canal route.' As regards the transporta- tion of grain, attention is directed not so much to the heat as to the intense humidity of the Isthmian climate. This would, of course, cause the grain to swell, while the - difficulty would be met in some do gree by tramsportating the grain in sacks, the additional cost would more than offset the advantages of- fered by lower rates. : A Mining Company Opens Up. Twead, Jalr 19. --We are pleased 10 note that our mining interests are wd3d § CAL NFFARS ~~ IN TIRED CONDITI looming up and that the world is to learn what Tweed and its vicinity can-show in mineral wealth, ' A company known as The Moira River Mining Co.,' has opened its head office here in the block. Its holdings are near the town and from the samples of ore which are right off the surface the indications are that they have some- thing good. 4 : E. J. Cowain, who has had a long mining experience in some of our best camps, declares that all abeut us lie' the greatest storehouse of "nineral wealth. He is interested in this new company. Record Steel Trade. Cleveland, July 19.--~During first six months of this year U. 8. Steel ('o. booked Jarger tonnage in sheets, tin plates and tubes than in other like period in its history and is still enjoying large volume of new busi- ness. Trusts Invade Australia. Murphy i [don and his wherenbouts are unknown 7 ' HR DAILY BRNTISH WHIG, SATURDAY, JULY 20, 191%, ONE ATHLETIC TEAM FOR BRITISH - EMPIRE. THE t Pittsie Ryan Has Left for Liverpool --lifford Siftom's Horses Dia Well at The Hague, Holland. | The King Edward Iwill ope a meet at week, Fodoriek Park Association *Mantreal = rext : App t former - Toron- to pitcher, secured by the Guelph {Maple Leafs, from Wilkesbarre, has re -ported in Guelph. En . Pittsie -Ryan, the Edmonton news- bay, who 18 walking around the world on a ¥30,000 wager, left Montreal qr! Liverpool, Saturday, ! i George Merritt; and Rube Kissinger, | the former New Jersey pitchers, ate pitching fine ball ~far the Memphi Club, in the Southern: League. Frank Bowerman, the former: big league star, who hasibeeli managing lthe Cockneys this year, has left f.on Canada has no complaint, scoring. likely, the highest percentage at Olym- via, taking into consideration Lhe fittie band of athletes that represent ed this dominion "Joe" Yeager likely to get the | | | is London, July 19.--A despatch to the Chronicle from Melbourne, says that Australian meat exporters are alarmed at the news that the Swift's | ara setting up big meat packing works at Brisbane, and ask the gov- > ernment to interfere Lo protect trade | pion of Great Britain, with "Jol ny" { Kilbane, for the world's title. against American trust methods. La Rose Rumor Denied. Montreal, July 19.---Repbrts em-. anating from Toronto that: part of the La Rose surplug is invested in other ventures are. emphatically de- nied. President McGibbon asserts thoy come from persons who seck to injure the company and its stock. Iron Mountain Making Good. New York, July 19.--The St Louis, Iron Mountain and Southern declared a dividend of four per cent., 'payable out of income from operation in the fiscal year. just closed. Missouri Pacific owns all hut $60,000 of the $44,395,000 stock outstanding, and will receive $1,773,000 on ageount of the divi- dend. That "will™ emable Missouri Pacific to' report for the fiscal year a much smaller deficit than the $5,282,500 reported at the close of the fiscal year ended June 30th, 1911, ! B. C. Canners' Big Surplus, A surplus of $921,951 is shown by the balance sheet of the British Columbia Canners' Association on June 30, 1912., This includes pro- fits for the year ending December 31st, of $422,852, after providing for depreciation. From this there remains to be set aside dividends of $161,632--7 per cent. on the pre- ferred for the year to May 20th, and 6 per cent. on the common; $6,000 to cover losses on filshermen's ae- counts, and $108,788, thé cost of redeeming 1,088 preferred shares of Series "B," leaving a net surplus of $645,530. The assets of the association in real estate, canning plants, steamers, hatcheries, etc., amount to $3,426, #73. Paid 5 Per Cent. Monthly. Cobalt, July 18.--The Crown Re- serve Mine has just declared divi- dend No. 30, showing a remarkalfje financial record and the disburse- ment of 245 per cent. on the capi- talization and $4,313,581 in money. The Crown Reserve began paying dividends in 1908, when a total of four per cant. for the year was paid. In 1909 the mine paid 71 per cent, which was the record. In 1910, 60 per cent. was paid, in 1911, 70 per cent., and thus far this year 5 per cent. monthly has been the re- cord. McKinley Mine's Output. Cobalt, July 18.--For the first six months of 1912 the McKinley- Darragh-Savage produced 1,530,000 ounces of silver from the three con- Solidated properties. This is the largest production record of thg company for any six months since the mine was opened. Financial Notes. An important Toronto house is advising clients to buy all the Rio available at present prices. This house has in the recent past erred on the side of conservatism in its estimate of South Amerjcan stocks, but now pronounces Rio the. best buy on the market. The Guarantee Company of North America has issued its 79th semi- annual statement showMg total re- sourdes for security of clients in- sured in the company of $2,087. 683.86. The company is in a most prosperous and flourishing condi- tion, and has just paid a quarterly dividend of 2%. per cent, The Welland Dredging Company, Welland, Ont., has been incorporat- ed. with a capitalisation of $100. 000. "W. E. Hardison is head of the company. The South African Diamond Syn- dicate has put the price of diamonds up to more than fifty shillings a carat, and there is prospect of a further rise of five shillings a earat. Greater expense in digging, and higher cost of living are the exensen given for the advance in the cost of the gems. SIEGE OF DELHI. Greatest of Historical Spectacles at the C.NAE. This Near. The Siege of Delhi will be the his: toric spectacle at. the | n Na tional exhibition this vear. There is ---- {from the his injured legs. Larry's left leg, brais- Royals. President Litchenhein has de cided to consult the sport writers be- fore making any changes. The National Sporting Club, of Lon- don, is making an efiort to match i**Jem" Driscol, - featherweight cham- | i managerial job of the Montreal | 1 | Owners of 'the Jersey City Club of the International Basepall League, say that unless the games at their park are anore liberally patronized they "will transfer the club to some other city. : : A large number of the American, English, Austrian, Italian, Dutch and Swedish athletes, who took pari in the Olympic games, held a meet -at the (openhagen Stadium with the Danish athletes. . The Vivia il, Swamba and E. D. (Gooderham's new yachi, Nifvana, are contending" at Toronto in the George cup .trials. The best boat of the three will be selected to defend, the George eup against 'the challenger Crescent Yacht Club, Watertown, N.Y. Nap. Lajoie will not be seen in the Cleveland line-up for at least ten days. He has returned to his home in South Euclid, 0.; for treatment lor THE ot piece linen frock which may be wi no bother about belt or collar, and worn underneath, natural colored hluoen with an effec ed by a baited ball, has become in- facted. His right foot also is bruised. At The Hague, Holland, at the home show, Hon. Clifford Sifton, of Ditawa, seored one; two and "three with his string in the high jump. UCon- fidence, clearing ft. 3 in: Sifton's team tooksone first, three seconds and two thirds. In the international mili tary competition the Canadian team was second, one point behind Hol lam. cording, mmm------ PLAY CARDS FOR WIDOW, Modern French Have Way of Sett- ling Their Rivalries. Paris, July: 20.--~Three Frenchmen of noble birth sat at a table jn a fash isnatle club the other night playing a game of ecarte.r The stake was the chance to a. wealthy and very American The thre Frenchmen had been thinking of her, Fach had made up his mind to cross the ocean and attempt her conquest. They confided their project to another, and ' were astonished, course, to find that each had thinking of the same thing. It was hopeless for all three to attempt it One would thwart the other, and they decided to settle the matter by a gam of eearte. One of the prospective suit- ors is wel known and popular in so- ciety. The other is a young officer who has graduated from ®t. Cyr, and bears a famous old name. The third is the son of a well-known boulevardier, who was celebrated' during the second em- pire as a leader of sociéty. None of the three is very wealthy, and they decided first of all to get up a puise of 15,000 francs to be handed over to the lucky winner for the penses of his trip. Fortune favored the first-mentioned, who hopes to win the pretty widow, and if he does win her he has had to promise a present of one million franes to each of his friends to repay them for their complacent renunciation. ------------------ ' win young widows Make Your Will To-day. If you have not already made your will ~ you should lose no time in doing it. The unexpected usually happens. The Trusts & Guarantee - Co., limit- ed, 43 and 45 King street, West, To- ronto, make a good executor under all circumstances, and at small ex pense to your estate, Appoint. the company executor, and let them hold vour will in their security vault, free of charge until +esuired.<, one of been Because le asserts that most of the funerals that pass through Queensborough come from outside, Borough President Connolly wants aach funeral cortege taxed one dol lar for road improvements, Despite the fact"that large fields of ice are reported on the "short course' near where the Titanic sank the liners are using that lane and the Oeccanic, just arrived, reports passing five bergs. Middy blouses from 75¢.; black un- derskirts, 50c.: blouses, H0e. Dutton's. While making his final flight for an ,aviator's license, Lieutenant Preusser of the German army was killed. His monoplane capsized in the air near Leipzig. The rolling stone never gets to the top. ex- FITTED FOR ROYAL CRUISE. Steamer Earl Grey Ducal. Party. July 20. The government steamer Earl Grey which has placed at the disposal of their royal highnesses the Duke and Duchess of Connaught and Princess Patricia and suite, by the minister of marine and fisheries, has been beautifully fitted up for the accommodation of ada's royal guests. The duke and duchess have separate apartments assigned them, the aft cabin apartments of the promenade deck. The duchess' apartments consist of a luxuriously arranged boudoir with sleeping chamber and bath room adjoining. H.RH. the duke is a signed a spacious bed chamber, dress ing room, and personal parlor ad- joining, which, no doubt, will be re- tained as a private parlor of royal family. Princess Patricia is also well cared for by the allotment of a private suite comprising bed room, dressing jroom. and bath room. I'he party alsa liave special apartments. = The Earl Grey, when she sails on Wednesday morning next with her royal guests, will have on board 144 persons all told, WILL ADVISE PRIESTS is Ready for Quebec, Saving for a "RainyDay" » Theve ave few things in life as certain as that the "vainy day" will come. an- The "rainy day' usual- ly comes when least ex- pected. In such a case of what use is an investment that that does not "pay" or that cannot be quickly converted into cash. Saving for a "rainy day" means putting your spare money, into something that will be a reliable support when everything else has failed. Putting money away . in secret hiding is neither safe nor profitable, for one can as well have profit and safety, too. The safest and most profitable place for money is in the form of Municipal Debentures. They pay better than bank deposits, and are the saf- ~ investment in the .world. They are guaran- teed by property of five to ten times their own value in the municipality. We can furnish Muni- To Take the College Case to the Vatican. Montreal, July 20.--Several eminent members of the Montreal bar have in- | terested themselves in the dispute bee | tween the priests of Ste. Marie de Moonoir College and the archbishop of Montreal and the bishop of St. | Hyatinthe, They will likely recom- mond the priests to take their case to USEFUL, Nobody knows what selid comfort is until she has possessed a one- skirt and waist are cut separately and joined at AL. rious fever LINEN FROCK. tipped on of a summer morning, with with the comfortable assurance that the linen is untransparent and no cspecial attention need be given to/ the color of the lingerie ribbons or the length of the petticoat flounce | This frock is an admirable model, and is made of tive trimming of white cotton braid. the waistline with a sm - CLAIMED BY "DEATH FARM." Mysterious Fever Kills Persons and Animals Mount Vernon, Ill; July 20.--A mys f which has claimed: its ninth victim in the person of John Ackerman has earned the name of "Death Farm" for a place near hers has balled the scientists who have been called to make an investigation. Igose who have died suffered the most intense pain in addition to hav ing a high temperature The disease bas afiected the farm animals as well, though both persons and animald upon | adjoining farms have not been infect led. An'mais which _ were killed fot {food on the affected Tarm became spot: ted after being dressed ang were thromn At sunrise the 'mist which rises from the damp earth on the 'Death Farm" has a smell like sul phur. and away. diagnose the discase, and those have been called from nearby towns and cities have had no better success. One theory advanced is that the infec sion came from diseased milk origin ally. FAMILY SWAM TO LAND When Lightning Struck Houseboat in Jamaica Bay. New York, July 20. -- Lightning struck the houseboat occupied hy Wil lism Frederick, an oysterman, his wife and five children, which was anchored in Jamaica Bay, about Prond Channel. Frederick family awoke to find the flames. Their oxlv chance was by Mr a seventeen-year-old other children, only Ind of twelve, could swim. erick, as good a swinuner as her husband, needed no help The family had a hard time in water, which was kicked up into choppy seaway by the high wind, they all reached shore. The burned to the water's edge and his boat in to reach shore and the father and boy helped the one of whom, =a Mrs. Fred 8 almost a boat was TO BE SU i 1 1 nomor Denied That Col. Morrison i to be Quartermaster-General, « Ottawa, Julv 18.~The thas been going the rounds of the | that Col. Morrison, editor of PERSEDED. story press the Ottawa Citizen, is to be appointed quartermaster-general on the head- quarters staff, in suceesssion to Major- Hemral Macdonald, officially de nied. General Macdonald to do good work for the department of militia, apd the minister of militia has no 'desire to lose the services of s+ experienced and capable a member of his mi,itia council. Tt is said that the position Col. Morrison is to have that of master-general of the ordnance, in succeesion to Col. Ruth: erford, who is retiring, is is Belgium Menaced by. Strike. | Bruasels, July 20.--The menace of a national general strike in favor of uni- versal sufirage and plural vote is beginning to take defin- ite shape. The Labor Federation has appoin Local pRysicians have been unable to | who | 200 vards off | thes but | which | i= still able" abolition of the | to more terribly picturesque scene in English history than this sketch from the great Indian. mutiny. The rich and varied costumes of the natives of different states mingled with the umi- forms of the English officers give to it color that eannot fail to delight the eve, while the {tragic drama cannot fail to be of enthralling interest. Fx. ery detail is to receive the strictest attention to make this the greatest ol the many histories] spectacles that thes | Canadian National famous cipal Debentures in small denominations from five hundred d dollars up. v The "Naiad," oaly reliable shield, Dutton'se dress {the vatican, or the supréme court of ted four sub-committees, charg- ithe Roman Catholic church, which sits} ed respectively with the. development in Rome to hear all disputes between {of a propaganda, the creation of a 'members of the organization, and get | central fund, the acquisition, storing a ruling as to which mandate must | and distribution to strikers of vast be obeved--that of the courts of Que quantities of food, and the completion | bee forbidding the priests to move the of arrangements for quartering | ohil- college from St. John's, or that oF | deen of the strikers. among Delgiam the eeclesiastichl authorities forbid-| and foreign families during the pro- ding them continsing in St. Joan's. | posed strike, An old Ste Marie man and a judge - said to-day'that the difference he-| _ 1000 lsiands--Rochester. tween the college and the diocesan! Steamers Caspian «nd North Kisg authorities was over sixty years oll. {leave at 10.15 a.m. daily for 1.000 Is- the rolieye havisg throughout these land points, and at 5 p.m. for Roches. sears been (he object of critica aifter, N.Y, via Bay of Quinte. J. P. their hands, Hauley, agent, FIR STARVING CONSIGNEE REFUSE CARGO AND BOATS AT MONTREAL, | r . . No Money for Meals--- of Attachment Favor of Crew: : Montreal, * Jiily 20; --Plastered with attachmeénts.and - notices of seizure, the tug Lucia, of Montreal. and the barge Major, of Buffalo, owned by George R. Mecla2od, of To- ronto, li€ tied to the Lacliine Canal bank, opposite the plant af the Do- minion. Textile Company. For two weeks they have been in the Lacliine Canal with a cargo of sand from St. Joseph, which the consigned refuse<$ to yeceive because it is too fine. But {'that is far from the greatest trouble | which has beset the craft. The sup- | ply of foodstuffs began to run low Elev en Writs Now Issued in Bad Ta in STvie acc] Rs) } i I TORONTO, ONT: | more than a week ago and few of | the men had money to phirchase | meals. * \ | Accordingly an attorney' ' was { sought out and the cases laid before | Wim. He issued eleven writs of at- | tachment for the wages and board of as many men. The claims vanged from $108.2 of Captain Wilfred Trottier, to $22.50, that of the | roistabouts. To-day the eleven {| writs were tacked up on-board the tug and the barge. Security of $200 in each case is asked before the two boats will be liberated, and they are now in | charge of "bailiffs. TEA! Tea and Black 'From the Finest Ceylon, uncolorsd flavor, Green aid pound, at ANDREW MACLEAN'S, Ontacie Street, TILT LLL LLL | rs 2 LA NEEDLESS USE OF OPIATES. a Charles B. Towns August Century. It is perhaps a conservative esti mate that only ten per cent. of the {entire drug consumption in this coun try is applied to the purpose of blunting incurable pan. Thus ninety per cent. of the opiates used are, strictly speaking, unnecessary. In the innumerable cases that have come un- der my. obkervation, geventy-five per cent. of the habitual users became | such without reasonable Be ginning. with small: @ceasional doses, they realize within a few weeks thal they had lost self-control and could not discontinue the. use of the drug From in the "The Baking Powder With A Pedigree" excuse. ovér filty guarded food ag and phosphate of lime All Grocers Sell It veal 2 . ¥ - - Davis Gasoline Engines The DAVIS Engines take you out and bring you back w you want to come. EVERY part of the tested before leaving shops. If you are looking for the be get a DAVIS. WE have several new and SECOND HAND Engines on hand. Order now engine is thorough our For Repairs, Engine Supplies and Fittings {ry us. DAVIS DRY DOCK CO. "Phone 420, - ry PROFESSIONAL MEN i can make very big money without loss of dignity Pol and y selling high class subdivision lots situated in {id ontreal. The lots are all eminently suitable for others building purposes and we guarantee every state ment we make concerning them. Big profits for speculators. Write to-day for full details to 1. A. Tavis & Company, Limited, Dominion Express Bldg. St. James Street, Montreal. | ! THE BEST INVESTMENT TO-DAY IS Montreal Real Estate We pick out the best buys innthe our clients finest inside localities for ¢ : dca Come to Montreal during the holidays and see for yoursell THE STERLING INVESTMENT CO., LIMITED 611 TRANSPORTATION BUILDING, | i MONTREAL, QU} || THE TORONTO || GENERAL TRUSTS } CORPORATION ADMINISTRATOR of Estates where there is no will or where the appointed executors prefer not to act, FORONTO OTTAWA WINNIPEG SASKATOON | | | HEALTH - PLEASURE -COMFORT } " There ix mo other trip in the word { a better for health, pleasure apd com. fort than the trip hy ihe BLACK DIAMO From M« e Hive ND BS LINE + F: WELDOX, GF. & PA, 112 St, Jumps Street, Montreal. FOLGER TICKET AGENCY or Local Agents