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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 11, 1917
Page
10
Market note highlights pressure on Steels and Motors and weakness at St Paul and Delaware and Hudson. Nova Scotia Steel stands out as stronger amid irregular local trading activity and investor caution.
Yesterday's market totals show New York sales at 484,100 shares and Boston at 7,384. The top New York issue was Steel at 88,000 shares and Boston's was Atlantic Gulf at 1,405 shares. Year to date comparisons list New York 124,839,900 and Boston 3,948,791 shares, with last year at 89,011,286 and 6,968,404 respectively. Major New York gain Savage Arms 43-8 to 89 7-8. GM slips 33-8 to 108 78. Boston gains Nova Scotia Steel 6 to 107 while Mass Gas falls 1 to 92.
New York market drifted lower on sluggish unfilled orders for United States Steel and weak Russian remittances, while call money eased and several majors reported favorable results. Maxwell Motor and Utah Copper showed notable figures as rails weakened and Southern Railway rose, with total volume about 470 000 shares and Liberty bonds trading narrowly near 99.60.
Boston stocks report today shows high and low quotations for the session along with net changes from the previous close. Market movers are listed with price ranges and daily movements across active issues in the trading session.
Trading interest rose as Atlantic Gulf and Nova Scotia Steel advanced amid a buoyant New York marine issues rally. Nova Scotia Steel jumped over five points, aided by its border tax protections and strong coal and iron ore assets. China and Utah Copper posted higher earnings for the June quarter, with China at 17.55 a share and Utah Copper at 26 a share annual rate, driven by greater spring output.
The market shows no sales with prices around 26.90 cents per pound and volumes sparse. Consolidated nets note 61,014 bales received over three days, with 19,277 going to France and 9,000 to the Continent. Atlantic port stocks total 533,638 bales.
Market observers remain tense over government price fixing as rail shares falter and marine stocks rise against the tide. President Wilson’s just price concept stirs debate about profits, with Bethlehem Steel contract reports and the Interstate Commerce Commission looming over future earnings and adjustments.
Total bond sales in New York amounted to 2 708 000 today, down from yesterday and prior weeks. Year to date sales reach 56 459 000, contrasting with figures from the previous year and two years ago.
H C Spiller of H C Spiller & Co is elected president of the Jackson Water Supply Company in Jackson. The Buenos Ayres branch of the First National Bank of Boston reports deposits totaling 5180.20 Argentine currency in its first four days of business. Cooperation by local Buenos Ayres houses exceeded expectations in volume.
William J. Connolly of 690 Centre Street Jamaica Plain appears in Thursday's Post among District 22 aliens. He should be classified with those in service as he has served in the naval reserve radio department for some time.
In Jamaica Plain South Boston and West Roxbury residents known as Frederick T. Conley number 874 and 155th on Division 15th draft list is deaf and dumb so exempt yet he known as Dummy seeks Washington to waive exemption and allow service.
Mr. Conley of Jamaica Plain, deaf and unable to hear, pled to serve in the aviation program. He argues his mechanical skill and inventions, including a new anti submarine shell, justify service despite his disability, reflecting a family military legacy and a desire to contribute.
Paris August 10 The U S Army medical corps said French authorities turned over two large military hospitals and a large medical depot to American units. The entire American expeditionary force has been inoculated against typhoid and para typhoid with a field laboratory under construction near the training camp.
Current prices show loans and deposits in the money markets at 4 to 6 percent with various notes on brokers calls commercial paper and year money. The Federal Reserve reports rates for paper maturities up to 90 days and exchange rates for francs lire guilders and roubles in afternoon banker business.
Allied and French forces press German lines from Nieuport to the Franco-Belgian border with heavy artillery duels. French attacks north and east of Bixschote and Langemarck yield captured machines guns. British advance secures Westhoek and ridge positions near Ypres.
Allied forces report capturing the first German line east of Hooge between Frezenberg and the Ypres Menin road including Westhoek, with several farms and machine guns seized near Bixschoote Langwarck. French and British units face heavy shelling while Germans renew efforts on other fronts with limited gains noted in Galicia and Bukowina.
Paris August 10 Among the army orders in today's Official Journal are citations for U S aviators. Sergeant Ronald Hoskier of New York Lafayette Escadrille was killed April 4 near St Quentin after a heroic defence against three enemies. Edmond C. Genet of New York, grandson of Governor Clinton, is cited as a courageous pilot with last words Vive la France for ever. Genet was killed near Ham in April, the first American flier to die in France in the war. Lieutenant William Thaw of Pittsburgh, the American Eagle, received a citation for courage and initiative during a German attack and for downing an enemy aviator on April 26 as his second victory.
American training in trenches at an overseas camp reduces illness to 2 1/2 percent of the force, far below the 5 percent U S posts see. Most cases are light mumps measles and colds and are responding well to treatment as medical staff operate under shortages and study front line care and underground dressing stations.
Offshore at Cadiz Spanish officers report the Siraa sank off Portugal on June 29 after leaving Buenos Ayres February 7 for Havre. The Benguela crew, earlier claimed at Copenhagen, was also rescued the same day and ship papers examined after a U boat surfaced nearby.
Paris dispatch reports that local peasants stripped gardens to furnish flowers for an American soldier’s funeral. The simple open manners of the Americans win wide affection as villagers, young and old, follow the cortege with evident sorrow.
Paris reports serious wounding of Price McQuillan of Overbrook Pennsylvania and Wayne Wetterley of Philadelphia while loading wounded at an advanced post. Wetterley lost a leg and seven wounds. both are out of danger and recovering. Kemp, early ambulance volunteer since 1914, awarded the war cross.
Entente allied warships have bombarded Turkish batteries along Asia Minor's coast since yesterday. British monitors silenced one battery and destroyed an airdrome near another, per the Athens despatch to Exchange Telegraph.
London Aug 10 The Belgian and Italian Socialists have resolved not to attend the international Socialist conference at Stockholm according to a despatch from Stockholm via the Exchange Biographo Company.
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