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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Apr 07, 1921
Page
18
Yesterday's New York market stayed steady to firm with money rates easing. Oils, steels, motors and copper issues led gains while Atlantic Gulf and local rails posted notable advances. Miami Copper reports $2.84 per share net after taxes with 65.6 million pounds produced in 1920.
At the American Smelting and Refining Company meeting, S. R. Guggenheim argued that recent share declines reflected broad market weakness, not mismanagement. He said Taft’s probe will clear the company’s name and that Guggenheim interests control the board after a 602000 to 202000 vote to adjourn. Island Creek Coal produced 635000 tons in Q1, up 72 percent year over year, with sales and earnings outlook improving despite high coal prices in 1920.
East coast firms report capital stock reductions as Eastern Manufacturing lowers authorized capital and restructures preferred and common shares. Chicago and Northwestern announces debentures payable after April 15 1921. Phelps Dodge plans April 15 smelter shutdown affecting Bisbee Nacozari and Burro Mountain sites. Anaconda Copper posts copper output for March and February 1920. North Lake Mining reports 1920 year deficit and minimal assets. Bell Canada gains favorable rate ruling from Canadian railway board. Chicago Great Western Railway shows 1920 results.
Franklin Mining Company shows a deficit of 2,530,682 after taxes for 1920 on 43,926,602 preferred. Arizona Copper produced 2,000,000 pounds of copper in March after similar February outputs. Goodyear Tire plans to announce a reorganization in two weeks amid creditor assent to liquidation.
Financial editors report a dull but positive morning with stock gains early, then a dip after Midvale Steel declared a dividend. Banks, coppers, and motors show varying moves while Western Union and AT&T remain strong. Prospects hinge on steel prices, wage cuts, and possible future dividends as markets anticipate a bull point from Harding.
Market prices list produce and dairy goods with varieties and ranges. Apples Baldwins Greenings Northern Spy and russets are priced from 2.50 to 6.50 per box or 3 to 6 for certain types. Beans include navy and yellow eye with per 100 lb rates from 4.50 to 9.50. Beef shows native sides and fores with cents per pound ranges, cheese and butter also quoted with assorted grades and packaging.
Savings banks list with dates for interest accrual including Andover Savings Bank in Andover Boston Five Cents Savings Bank and Dorchester Savings Bank with April dates and several others such as Farm's & Medh. Sav. Bk. and Union Inst. for Savings in Boston. The notice enumerates institutions and their respective May or April start dates for interest.
Deposits in savings or interest departments of trust companies show interest dates for several institutions. Charlestown Trust Co. and Commonwealth Trust Co. from Boston and Dorchester Trust Co. share May 1 as a date. Federal Trust Co. and Hub Trust Co. list May 7 and May 1 respectively. Jamaica Plain Trust Co. notes Apr. 84, while Market Trust Co. in Brighton and South Boston Trust Co. set May 1. United States Trust Co. Boston and Melrose Trust Co. Melrose list May 1 along with Somerville Trust Co. Somerville.
A fragmented OCR list shows several Boston area banks with scattered dates and locations including Taymarket National Bank Boston Boylston National Bank Boston May 1 Mattapan National Bank May 1 National City Bank of Chelsea May 1 Union Market Nat Bank Watern May 1 First National Bank of Malden Apr.
A dense list of market prices for corn shipments and cornmeal, eggs, flour, fruits, hay, lamb, millfeed, oats, oleomargarine, onions, potatoes, poultry, live poultry, provisions, sugar, and vegetables. Includes per hundredweight, per sack, per crate, or per dozen figures with regionally varied entries and multiple quality grades.
Feature on Jimmie and a movie press agent by C Howland Wood appears in the Boston Sunday Post Magazine Spring Love number to be published next Sunday.
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