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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Apr 03, 1907
Page
10
Wall Street opened with uncertainty as investors took profits on a partial market recovery. New York securities rebounded from early declines aided by strong performances in a few rail and industrial shares, but overall trading remained wavering as sentiment shifted amid ongoing expectations of government policy and antitrust concerns.
The New York market opened with broad selling after a London market cue, with Canadian Pacific and Reading among others slipping while Atchison and Amalgamated rose late. The day ended with an irregular, active close as traders chased profits amid London news and dividend talk, with Amalgamated, Trinity, and North Butte among notable movers.
At 12 30 yesterday the Cunarder Ivernia, Captain W T Turner, cleared East Boston bound for Queenstown and Liverpool. It carried 27 saloon, 2nd cabin and 200 steerage passengers, including Col W H Sykes and Patrick J Kennedy. Cargo included 83 849 bushels of corn 16 000 bushels of wheat 1000 bales of hops and 800 tons of flour. The Danish steamer Nicolai II left later for Copenhagen with a general cargo.
Concord residents will celebrate Patriots Day with cannon volleys at sunrise and sunset. At Monday’s town meeting an appropriation was approved to fund three batteries for the salutes.
Curb activity shows gains in Greene-Cananea on New York buying, but prices slip from 16 years to 16 14. Superior and Pittsburg firm then fall from 21 to 20. Bullfrog Mines flips between 60 and 55 cents. Sutton Bay advances from 80 to 90 cents, Acme Consolidated rises from 35 to 39 cents as total sales, open high low and quotations are listed.
The Boston Market records the course of stock and bond prices and total daily sales in a comprehensive table detailing the trading activity for the day.
In a bold open letter the Argenta figure defends his plan to price treasury stock at 1.50 and challenge hold-ups in the curb market. He accuses rivals of savagery, vows to act on his convictions, and warns of “survival of the fittest” if prices are cut. He claims fair play, insists on open dealings, and says a record should be made for history.
Governor urged to appoint a five person taxation commission after a business leader petition of over 100 signers. The plea references a recess committee report on taxation and calls for study of laws in other states to propose equitable, efficient taxes for the Commonwealth.
Representative Charles A. Dean of Wakefield pressed the New York Central lease issue before the railroad committee. He argued Boston and Massachusetts freight suffered after the lease, with Boston exports down 25 percent while New York’s rose 50 percent. He cited a 15 percent rate hike by Boston & Albany since the lease and urged annulment if conditions do not improve before adjournment. The hearing resumed the next day.
Police Commissioner O Meara urged a city committee to report legislation allowing street vendors to use specific streets and sidewalks. He called for a complete revision of the law to implement this program.
In Chicago on April 2 leaders of railway unions signaled renewed willingness to resume negotiations with Western railroad managers. A first meeting is likely tomorrow with organizers reporting progress toward conciliation. Reports say managers may grant a 12 percent wage increase, matching the unions' demand.
At St. Ann's rectory Neponset Reverend John S. Mec Kone presided as Francis P. Sullivan and Agnes F. Cox of Popes Hill district exchanged vows. Best man John Goggin and bridesmaid Elizabeth McMorrow attended. The couple went to Washington for a honeymoon with the groom's brother Reverend Christopher Sullivan S J as guest. They will reside at 26 Edwin Street Ashmont after returning.
The author halts operations to verify copper price shifts amid news of a one quarter cent per pound drop at market opening. He cites potential 3 to 4 cent declines and plans a European field check to confirm if this is real or campaign linked.
The speaker urges restraint on Amalgamated Copper purchases and asks investors to await further investigation before buying. Those who already bought at lower prices should hold as Amalgamated could be valued well above current metal markets.
The speaker argues Trinity stock is worth more than 50 with metal at 20 cents and Trinity ore shipments planned soon. He notes new developments could add 50 dollars per share and urges holders not to sell during his absence while recommending buying even if metal falls to 20 cents.
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