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stozk ex:change today were almost the smallest, b.caas to volume and s:ore, In many weels, out tire movement until the final n0.., wihen sales eased modor- ately, almost to steady strength. News and other developments having direct relation to ma ket value were widely divergent, ranging from the jowest cail money rate of recent weeks ‘o the further slump in foreign exchange, and great unsettlement in the coal strike. Steri- ing exchange went to $3.88. The fuel shortage, as reported by the various trade auchovities. caused further serious curtailment of steel and iron production, leading manufacturers have practically closed their sales departments, banking interests professed not (o be in accord with the views of the Secretary of the Treastry, who stated in his annual re- pori, that the problem of financing the European countries devolved unen private interests and not on the Government. New York, Dec. 4th —ln its salient chiracteristie, today’s stronzer stock murket was largely a duplicate of the preceding session. The substantially higzher range of many issues resulted mezinly from further involuntary cover- ing of short cotracts, disregarding the increasingly acute conditions in the coal strike and tne Mexican situation, traders seamed to derive much encouragement from the earlier irend of money, the bet- ter tone of _he bond market, and tempor- arv relaton of the tension in foreign ex- change. Call money was liberally sup- plied at the outset at 6 per cent, that guotation being maintained throuaghout, on augmer:ted offerings from interior banks uim> ioan exztended over the year, were made at slight concessions from re- cent rates, but such acecommodations, it waus unders ood, appiied only to first class coliateral. The rally in exchange re- sulted from negative rather than actual conditions, stecling, franes. and Swiss remittances reacing towards tae close of the day, when the draft on bills alter- ed. Montreal, December 41h.—The Unitec State? aiins not merely at businese con- tro! of the West Indies, but hopes to an- nex them. Politically Mr. T. B. Macau- lay Presidert of the Canadian West In- dian Society, said here tnoday, in the course of an address on the necessity of s commercizl union betw®een the Domin- ion and the West Indies. He stated he had strong reasons to believe that Amer- ican interesis were at work in Jamaica, ton influence public opinion lal favour of a union with the United States. Mr. Macaulay pointed out, how by cxchang- ingproducts, tiie West Indies and Cana- da could reproduce the ideal trading zon- ditions, to be found in the United States This interral exchange in the United States, enabled it to keep away from on adverse balance of trade, s'izl as we have in Canada and the West Indies. Mr. Macaulay gave in detail a description N b Bkt R A NN of the development of work that could be underiaken in the West Indies by the Cavadian Enterprise. Loudon, Jee. 4th.—l The break in American exchange to $3.99 while con- sidered serious from a trade view poing, IS due to the same conditions previously prevailing, the huge indebt2dness of Great Rritain to the United States, and the large amount of cotton still to come from that ccuntry. No offigial action has been taken to meet the situation in mar- ket circles, the opinion is expressed that the rate will go stil! lower. Yesterday’s | decline, unsettled continental exchange, | which moved against this couniry. | London, Dee. 4th.—the revised naval estimates published in a Blue Pook fix the estimate at £157 528,800 as compared | with £149,200,000 presented in March. | The personnel of the Navy is estimated | at £275,000 as compared with £27,000 | in March. | London, Dec. 4th. --Sir Hamar Green- | wood speaking at@ lun heon given by { Sir Newton Moore, commentiing on the iormer’s appointment, as Secretary of | the Governmental Qverseas l'rade Com- | mittee, said ne believed Americans were our foremost trade competitors. There never in ureat Bricain, had been so far a settled policy regarding trade develop- ment, and although| the Government, would not embark in! fresh expendiiure without the express sanection of the | House of Coirmons, he believed a small | expenditure would vesult in a very large | deveiopment of Empire t.ades. Colo- l nel Amery, Under Secretary for the Colonies said he did not very much care | where the capital eame [rom if only the control remained in British hands. "If f American capital for insiance went to | Canada, it meant more Canadian capi- | tal for develooment, for parts of the | Empire. Speeches were also madz by | Sir George Perley, Colonel Grant, Mor- den and others. The gaihering were at- l tended by most of the ITich Commisslon- | ers and agents-general ¢. the Domini- } ons. j Vienna, Dec. 3rd. —Christian and Sc- | cialist Deputies have presented a formal resolution in the Voralberg Diet, declaring * that province, a free and independent State. The action was taken, it is said, with a view to annexing Voraiberg to Switzerland. - Holborn, Stadium Ringside, Dec. 4th—- [Associated Press]. Georges (‘'arpen- tier, the French champion, knocked out Joe Beckett, Champion of England, in a brief ard -decidedly one side fight for the heavyweight championship of Europe. Severty four seconds as an- nounced by the official timer sufficed I to decide whether “‘arpentier or Beckett | should meet Demsey, the American hea- vyweight for the Championship of the World in June next. IFrom the moment the referes called time, Carpentier had the battle entirely in his own hands. ! Beckett never had a chance of hitting the agile frenchman, who landed blows wita enormous strength wherever he felt inclined. The Prince of Wales. Peers and Peeresses, members of the House of Commons, High officials of state, and many women, most of them In evening dress, witnessed the contest. Lonaon, Dec. 4th.—The Government’s ' measure dealing with the Irish Problem will be ready tor introduction early in | thie week after next. Mr. Llcyd George . aunounced in the House of Commons | today. The Bill would be carried over | into ‘he next session, however, by a | special resolution. he said. ? Paris, Dec. 4th.—The Council of Fiv.: | met ftoday. Marshal Foch was present | at the Conference. The subjects dis- | cussed were not made public. i Irkutsk, Deec. Ist.—Major General { Jules Janin Commander in Chief of the | Czecho-Slovak forces in Siberia, ha: ar- ‘ rived herve for a conference with the | representatives of the Allied armies. i Glasgow, Deec. 4th.—Addressing a l political demonstration he.e this eve- . ning. Mr Andrew Bonar Law, Lord | Privy Sea' and Government Leader in the ’ House of Commons, alluded to ‘‘Ger- | many’s apparent attempt’’ to evade rati- | cation of the Peace Treaty owing to the ‘ delay of the United States senate in | adopting it. Mr. Banar Law said that he i spoke for the (_}(_;\'e.rnment and he believ- | ed, for the Allies, in declaring that they had the power, and if necessary would exercise it, to ensure ratification by Ger- many of t e Treaty. Washington, Dee, 4th. —The abandon- ment of the Governmental attempt to . control the distribution and sule of sugar | was announced t()day by Attorney Gen- l eral Palmer- After the sugar equaliza- tion board is dissclved on December 31st, the Government will corfine it efforts to the prosecution of profiteering in sugar | Mr, Palmer said. p | NEW YORK, Dec. sth 1919. . Flour, Blencdad Clear St. Lawrence I-rand pr. brl. $12.00 Meal, Kilndried per 100 bs $3.90 New Season’s Pork per brl. $45.00 Heavy Mess Pork per bbl. $47.50 Sugar---Crystals (Confirmed by Brokers) per- 100 lbs. $7.28. Molasses 89° test pr Ivo Ibs. no quotation Cotton, Middling Upland, at Liverpool per Ib. 25 45-100 d. xchange, New York and London, 60 days’ sight $3.854 Exchange New York and London, sight $3.86% LONDON, Deec. 4th 1919. Sugar-Demerara Crystals duty paid priee. fixed by the Royal Commission per ewts 665. od. -975. od. Muscovado, 89°/- basis, floating terms in bond, Ditto duty paid. 635. 3d. -86s. od. German Beet 857/¢ f.o.b. no further sales 1 during the war