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Max WederI blew up the photo, and as best I can tell, the cement company is simply "Lime and Cement". I couldn't easily find a specific reference to a company known solely as that. The other name I could see is "Peter Pan Flour". A google search didn't provide any clues there.
Is there any possibility the foreground was the subject of landfill before the war? The background does look somewhat like Toronto, and in the 1930s (and even today), the background neighbourhoods would have had that green look to them in that part of town. That said, the train does look too new for the 1930s, but I must confess I am neither an expert on trains nor Toronto.
Max