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This newspaper page contains 13 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 07, 1917
Page
12
U S Steel rises amid broad steel market strength with Bethlehem Steel and other mills announcing gains while a few issues post fractional declines. Pond Creek and Nova Scotia Steel appear in regional market notes.
Yesterday sales show New York 430 200 shares and Boston 14 414. most active issue in NY Steel 107 300 shares while Boston top mover Pond Creek Coal 3554. For year to date New York 122 721 900 shares and Boston 3 911 011. last year totals were 87 500 304 in NY and 6 900 700 in Boston. Notable gains include American Tobacco up to 219 1 4 in NY and Calumet & Hecla up to 545 in Boston. notable losses include Continental Can at 97 in NY and West End pref at 463 4 in Boston.
Trading renewed with broad inquiry for active stocks and gains in tobaccos oils and sugars. United States Steel surged to 127 3 4 and allied equipment rose while rails and shippings were quiet aside from Missouri Pacific. Gold imports tally 8 million from Canada and bond activity was uneven with Liberty bonds around 99.64 to 99.76.
Current prices show brokers customers loans at 4 1 2 to 5 percent and outside call loans at 4 4 to 5 percent. Commercial and collateral loans range 5 to 6 percent, commercial paper 5 to 514 percent, year money 5 to 6 percent. Bar silver in New York quoted at 80% for today versus 65% last year. Federal Reserve Bank notes outline rediscount eligibility and terms for paper maturing within 15 to 180 days, including trade and agricultural paper, with various collateral conditions.
Boston market gains broadened with rising demand for copper and metal shares. Pond Creek and Island Creek led gains on expectations of NYSE listing and coal price strength. Island Creek earned nearly as much in six months of 1917 as all 1916, while Alaska Gold posted poor July results. Nova Scotia Steel rose to 1021 2, up 3 12 points.
After a two day break the market opened strong and held gains, finishing near top prices as prices advance for eight of the last nine sessions. Steel and oil issues show strength while rails stay dormant and Studebaker edges toward a dividend decision. United States Steel crosses Bethlehem, aided by shipbuilding sector uncertainty from government actions.
The report covers U S bond transactions in thousands of dollars with totals for the current period, prior Fridays, and prior years. It notes New Haven’s June gross vs net earnings decline, stock surplus weakness, and gold imports totaling 535 million in 1917 with 1.6726 billion since 1915, plus bank reserves and deposits trends.
In the market, lire and francs were the easier currencies while avian exchanges remained firm. Bankers reported actual business and cable rates with sterling at 4.76716 dollars, francs at 5.7634, guilders 42.14, lire 7.29, and roubles 21.50.
E H Clarke of New York announces a new Chicago branch with Joseph K Witzel as the manager. The move expands the firm’s Midwest presence and signals continued growth in regional banking services.
The new order will satisfy many in the State who want public the names of those claiming exemption with their reasons. Division 7 finished its first batch. 67 examined, 3 passed, 15 claimed exemption, 20 passed ready to serve, 123 accepted with 63 exemption claims. Various divisions report on examinations, exemptions, and duties, with actions continuing through the week and lists to be made public Thursday.
In District 1 Medford most men appeared for exams. Carl V Corless failed to respond due to wrong address. A mother’s letter said her son could not answer the draft as a greater call came first. Several missing registrants turned up with apologies, and a western prison registrant asked to fight. District 1 Cambridge examined Joseph N Falvey found nearly perfect, with chest expansion nearly full. Oscar M Zulen of Lima Peru was rejected for flat feet. Exemption claims at Pittsfield rose past 125 as five physicians prepare to examine 271 for quota. Brookline plans added physicians to assist in examinations at Town Hall. Cambridge noted tensions with Har vard ROTC cadets and exemptions. Boston boards push to weed out exemptions, even checking insane hospitals. Frankie Mack to be examined at Winthrop High School. Newton’s William Murphy found to have a heart on the right side but rejected for organic disease.
A Cambridge district draft list from yesterday records ten men examined and accepted for service in the national army. The listed individuals are assigned to duty after passing the required examinations.
The Division 13 exemption board in Roxbury organized with Patrick J Callahan as chair and Dr Samuel E Courtney as clerk. They plan to examine 312 registrants over three days starting at 9 am at the Cabot street bath house Roxbury to meet a quota of 156.
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