Grain Markets Auction of Unpaid Shares May 15
The Contact Copper Company announces an auction on May 15 to sell all shares that have an unpaid assessment of 50 cents per share. The sale aims to recover the outstanding value from shareholders.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Apr 27, 1915
Page
14
The Contact Copper Company announces an auction on May 15 to sell all shares that have an unpaid assessment of 50 cents per share. The sale aims to recover the outstanding value from shareholders.
Copper shares the features with General American Sugar a feature issue. Butte and Superior lead locally. In New York 770,300 shares traded. Boston 116,109. Greatest gains include General Chemical in New York and Amheek Mining in Boston. Losses listed for Mexican Petroleum and Chicago Junction pref.
New York stocks showed early strength in coppers and industrials but reversed sharply in late trading led by Reading and United States Steel. Union Pacific Great Northern and St Paul gained while Missouri Pacific and Kansas Texas lagged amid notes crisis for Kansas City Southern. Total volume 770,000 shares with copper convertible issues rising and U S bonds steady.
The Boston market note shows Butte & Superior at 66 a half, American Zinc at 40 1/2, and Granby up nearly 10 points to 94 as United States Smelting Miami and Mohawk also rise. New Arcadian leads low-priced issues at 13 amid underground ore developments viewed as potentially productive.
Boston on April 26 shows high, low, and last prices for securities, with comparison to the previous close. Market activity pending full listing of individual issues and figures.
Current quotations show call loans at 3 percent for brokers and outside brokers. Customer commercial loans run 4 to 6 percent, individual collateral loans 4 to 6 percent. Commercial paper yields range 3 4 to 4 percent. Year money at 4 4 percent.
United States Steel reports its largest war order, signaling strong munitions demand for the next five months as copper rises on war demand. Copper price advances to 18- cents per pound with 1915 earnings outlook mixed for steel and utilities. Anaconda Copper and Atchison show deficits or soft earnings, while dividend policies and note extensions loom amid reorganization prospects.
Prices for haddock, cod, pollock, hake and halibut were lower yesterday at the fish piers as 22 vessels arrived at the fish pier and two at T wharf. The Nat ali Hammond delivered 25 000 halibut. lobster landings from Nova Scotia totaled five boats. The War curbs demand in Europe and Canadian canning shutdowns push lobster supply and cargoes from Boston. The United Fruit steamer San Jose arrived with barrels of molasses and fruit cargo from Havana.
The Bank of Montreal invites sealed tenders for 6,100,000 dollars in three year gold bonds dated May 1 1915 due May 1 1918 bearing 6 percent interest payable semiannually. Delivery in New York on May 14 1915. Bids must meet strict terms including a 1 percent tender cheque and full amount offers. Proceeds to retire 3,650,000 New York Bills and fund public works.
A market summary lists numerous bond issues and stock stamps from Wabash and other issuers with prices, yields, and issue dates. It reports total sales of 4.623 million dollars, compares to prior Saturdays and week-ago figures, and shows year-to-date totals of 244.617 million versus last year.
The report notes tobacco guava paste jersey and limes on a cargo list as the steamer prepares for scraping and painting at dray dock. The Leyland liner Colonian with Captain McDonald arrives from London carrying general goods. Saxon Monarch also from London via New York discharges most at New York and sails Wednesday with cargo for London. Arlington visits Ogdensburg and then coal trade, while Newton chartered to ship grain to Italy and San Marcos with lumber fruit and naval stores sails under Clyde line charter.
A list of arriving steamers and schooners including Saxon Monarch, Waguma, Coloman, Jose, and others sailing to ports such as Havana, Buenos Ayres, and Norfolk. Also notes tug Neptune to assist Coastwise and a Wyoming schooner voyage from New York with crew and destination details.
The Mohawk bank statement reports a March copper output of 1,322,367 pounds, a record total. The refining average was 18.12 pounds per ton of rock.
The present boom in copper and zinc raises profits for American Zinc Lead & Smelting and Butte & Superior on the local exchange. Both stocks are among the most active as zinc prices rise faster than copper. A Boston Post financial feature tomorrow will examine results and future prospects for these firms.
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