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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 02, 1909
Page
10
The week saw orderly gains in leading stocks in New York and Boston with prices near 18 month highs. Analysts note limited outside speculation and hope for a healthy reaction only after major holders trim positions, expecting notable uplifts in industrials and lower priced rail issues.
William E. Soule notes a record week in stocks with Union Pacific and Steel common reaching new highs and overall prices near its 1906 boom level. He cites optimism from crop crops, rising trade, tariff expectations, and Steel Corporation’s 8 percent dividend as catalysts for the uplift.
The article analyzes rising dividend rates and stock buying by Steel Corporation as a signal of potential price strength and speculative support by officials and brokers. It notes Union Pacific’s situation under Harriman’s influence, highlighting how dividend actions and large operator buying shape market sentiment as the market shifts from quiet to active.
A calendar of dividends payable features numerous issues with stated rates including American Glue American Light and Traction common and preferred Cambridge Gas Light Commonwealth Edison Dominion Coal preferred DuPont companies and regional rail and utility stocks with various percentages and fixed amounts. The list covers Boston Chicago New York and other markets with several preferreds and common shares highlighted.
In Park City the Consolidated Andes claim yields high grade lead-silver ore. Silver King Coalition Mines and Silver King Consolidated Mining owners see strong demand as stock moves to 4.10. Ore shows 490 ounces silver, 42 percent lead, and 3.80 in gold per ton. Mining work continues at depth with potential new quartzite territory opening for the Coalition.
Charles McNeill of Utah Copper arrives in Salt Lake City with Spencer Penrose and a director from New York signaling possible consolidation talks with Boston Consolidated in Bingham. Boston has a 2300 ton daily mill while Utah Copper operates Garfield and Copperton mills totaling 7600 tons, with plans to expand to 10 000 to 12 000 tons.
Special correspondent reports a large body of ore at 730 feet in cross-cut from the Clermont shaft, promising rich returns for Consolidated Mines Co and the Goldfield district. Manager Mackenzie cites ore at $30 per ton with milling ease, while rumors of $125 per ton free gold from a 1000-foot vein float through camp chatter.
A new Cobalt mining exchange aims to educate Canadians and others about mineral wealth across the continent. It will cooperate with Toronto and other exchanges, focusing on newly organized companies while older stocks stay with outside boards. 33 charter members form the nucleus of the venture, with committees appointed to perfect organization and locate a suitable site. News also reports Ophir Cobalt mine striking at 75 feet, showing rich ore, and two calcite veins discovered at Great Northern Silver Mines in South Lorrain. North Bay Syndicate profits rise by 25000 as William Martin sells claims for 60000 to Montreal capitalists.
Boston assessors acknowledge several small private parks owned by citizens remain untaxed. Secretary Charles E. Folsom notes long standing dispute over the citys right to directly assess such parks. Former chairman George Comins reportedly argued these places could not be taxed.
The rear park of the Hotel Oxford known as Matthews Park was first assessed in 1907 for 20500 dollars after owner ex Mayor Nathan Matthews paid taxes in 1907 and 1908. Officials debate direct versus indirect taxation while noting the park’s ownership and adjoining property.
Tony Paschando was stabbed by Grustett Martezie with a 14 inch dirk near his home at 2 Sun Court street. The weapon broke off in the wound and Paschando is not expected to survive. Martezie was found hiding in a stable and charged with assault with intent to kill, released on $300 bail. Martezie resides at 17 Moon street.
Bystanders say Paschando and Martezie argued then Paschando fled before Martezie drew a knife and stabbed Paschando multiple times. Paschando is listed on the dangerous list at Rew lief Hospital. Martezie, 28, hid in a Fleet street hayloft and refused to talk at the station. If Paschando dies, charge may be murder.
Lester C Herrick eight year old son of Mr and Mrs Herbert Herrick is missing from Bray street West Gloucester since Thursday at 11 oclock. Neighbors fear an accident as he seldom stays away long. He wore a black suit cap and shoes and stockings.
Ernesto Moscairo, 44, of 9 Boardman Street East Boston, was struck by a train while napping on the Boston Revere Beach Lynn railroad bridge between Boston and Winthrop yesterday. He was taken to East Boston Relief Hospital with injuries deemed to end his life within hours.
Seventeen girls in the Maplewood Literary Circle of Malden held their first monthly meeting at the home of the Misses Levitsky on Broadway Malden. Their aim is to attain a high intellectual standard under directress Miss Rose Schoolman of Laurel Street Maplex wood.
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