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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Apr 17, 1914
Page
20
Steel common shows a fair rally with New York Central at 865 8. Lehigh Valley drops to 139 34, the lowest in four years. Alaska gold climbs to 27 8, while Granby fluctuates widely.
Total sales in New York reached 420 500 shares and Boston 32 073 shares with steel leading in New York at 78 400 shares and Alaska topping Boston at 15 478. Year to date totals show New York at 25 569 900 and Boston at 1 929 466 shares. Largest gains and losses include Mexican Petroleum up 21 percent in New York and Underwood Typewriter down to 80, Granby up 2 to 8 1/2 in Boston, Old Colony R A down to 156. Call money in New York 1 2 percent, Boston 3 percent. time money New York 2 4 percent, Boston 3 1/2 to 4 1/2 percent.
Severe bear attack unsettled the market with New York Central hitting 865-8 the year's low since 1885. Sixteen other stocks including Union Pacific Hill Lehigh Valley and Steel fell to new lows as selling pressure spread amid broad consolidation concerns and a bear campaign led by a Chicago operator.
Boston April 16 Local operators followed New York in a mixed market Alaska Gold rose to a new high 271-8 on heavy buying while Granby fell from 380 to 761-4 then recovered to 82 4705 shares changed hands Butte & Superior saw steady buying around 25 with a wavering close and New York inquiry rivaled local sources
Ex dividend reported with total sales 32 073 shares valued at 14 500 dollars and rights 2206.
The foreign exchange market showed strength with afternoon rates for banks. Sterling around 4.8715 dollars, 60 day at 4.8515, commercial bills 4.8415. Francs 5.1675, marks 95 3-16, guilders 405-16.
The market reversed from weak to strong late yesterday with a rebound thought to be helped by Mexico news on Huerta saluting the flag. Lehigh Valley led declines among rails as Amalgamated Copper kept a 6 percent dividend, while Steel common rallied after a slide. Alaska Gold surged to a new high on heavy volume amid optimism about property developments.
A dense ledger of bond prices and yields shows figures for U S Steel Bethlehem Steel and many utilities and rail stocks. Listings include Panama Pacific Panama Canal New York Central Pennsylvania Railroad and Western Union with varied 4s 5s and 6s maturities and a week’s total sales totaling 2.461 million dollars.
A fishing schooner Kinco from Boston, crewed by S K Chase and Simon Henderson, was nearly capsized in a Newfoundland squall after being brought down from Halifax aboard the Plant liner A W Perry.
Adams and Co awarded 125000 dollars in four and a half percent bonds of Amsterdam Netherlands on their bid 104.87 with interest. BE W Clark and Co sold 5 million dollars of 5 percent collateral trust notes to Portland Railway Light and Power at 99.5 to yield 5.5 percent. Pacific Gas and Electric sold 2 million dollars of one year 5 percent notes to a syndicate led by N E Halsey and N W Harris. Notes due March 25 1915 and part of a 7 million dollar authorized issue with public offering to follow.
A New England shipping and business survey shows overwhelming support for President Wilson in repealing the Panama canal tolls exemption. Industry leaders like William Curtis of Stone & Downer Co. and William H. Randall of Emery Steamship defend exemptions or subsidies, while others urge clarity from Wilson on his reasons and caution against altering the law without public input.
Boston businessmen from exporters to ship brokers push opposing views on Wilsons Panama tolls stance as Senate debates repeal. Supporters argue tolls fairness and trade benefits via the canal while opponents call tolls unjust and seek subsidies, citing Hay-Pauncefote obligations and coastwise interests.
District Court of the United States for the District of Wyoming issues notice to creditors and claimants of Laramie Hahn's Peak and Pacific Railway Company. Special Master Marshall B Johnson will hold a hearing May 12 1914 at 10 o clock in the Van Horn Miller Block Laramie Wyoming to prove and object to claims and determine secured and unsecured creditors.
The Navy Yard Boston will sell condemned unfit-to-use material for cash to the highest bidder by sealed proposals. Items include whaleboats motors tools bunting gear lamps safes rope clothing carpets pumps engines and many other salvageable goods. Proposals open at 12 o clock May 5 1914 and schedules with terms are obtainable from the General Storekeeper Navy Yard Boston.
Sealed proposals due noon April 21 1914 for chartering launches to the Coast and Geodetic Survey for wire drag work at Portland Maine. Specs include three launches of various lengths beams and horsepower with dinghies, maintenance required. Proposals to N H Heck Portland General Delivery. Copies from COAST AND GEODETIC SURVEY Washington DC.
Sealed bids for the entrance to Copley square station of the Boston Public Library subway line are due by 12 noon on Thursday April 23 1914. Specifications and contract forms available from the office of the city engineering department. The city reserves the right to reject any or all bids in the public interest. Secretary B Leighton Mission
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