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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 18, 1915
Page
12
Editor notes the pound's fall to $4.6814 from $4.8623 due to wartime disruption. It recalls prior peaks near $7 after war began and discusses why such swings occur and their impact on stocks, business, and the national economy.
The article explains how foreign exchange works between the United States and Britain, detailing how a $4.8623 pound rate is maintained, the $500 million export surplus, and how credits are spent on imports, interest, tourism, remittances, and other items. It chronicles wartime shifts, gold flows, and the shift from England’s gold demands to the US running a large export balance, with England slowly restoring parity through pools and possible Canadian-backed loans.
Bonds traded with many issues quoted from Pittsburgh to St. Louis and New York. Strong activity across 4s and 5s led to notable totals of sales value and varied price levels, with Yankee bonds and industrials prominent amid a broad market session.
A new Arcadian mill test reported 34.2 pounds of mineral per ton of rock. Copper exports for the week ending August 7 totaled 6,919,599 pounds with 2,822,000 to France and 8,427,000 to England, while imports reached 6,000,000 pounds, nearly all from Chile.
Westinghouse Electric and Steel resumes dividend payments on preferred stock. Utah Consolidated declares a second 50 cent dividend in the quarter. Bethlehem Steel falls 82 points in trading.
Total sales in New York and Boston with shares traded and on the year comparison. Westinghouse and Arizona Commercial lead activity in their markets. Gains and losses include Am Steel Foundry Bethlehem Steel Calumet & Hecla United Shoe with specific price movements.
Trading on August 17 sees strong war shares despite weak rail stocks and foreign exchange. Public interest in war contracts grows, US Steel nears 77 1 2, Westinghouse hits 120 3 4, Maxwell first preferred 92, Studebaker peaks 120 but retreats. Total sales reach 8.95 million dollars with US 2s down a quarter point.
The Boston Metal market shows strong gains in copper issues led by Calumet & Hecla up 14 points and Wolverine up 3. Old Dominion and Osceola advance while United Shoe Machinery sinks to 48. Zinc slips as price falls to about 11 cents. Arizona Commercial eyes promising ore strike on level 14. Kennecott Copper stays firm near 46, Miami Copper hits July records with 4,000,000 pounds output and 8.19 cents cost per pound. Utah Consolidated declares 50 cent dividend payable Sept 27.
A fragmented OCR list shows various stock codes and values including Union Pacific pf 811g 500 Un Rys Inv 19 400 Un Ry Inv 7, USCIP&F 23% and 100 USCIP pf 46, Steel prices, Westinghouse, Woolworth, and others. The text is a garbled ledger-like snippet with multiple company references and numeric figures.
Boston August 17 report shows the day’s low and last prices for securities on the Stock Exchange with comparisons to the previous close. Bonds figures included.
Worcester invites bids by noon August 19 for a temporary 150000 loan due November 15 1915. Milwaukee invites bids by 11 a m August 24 for 400000 12 percent 20 year serial bonds. Pa Van Loon presents roaring fun in the Doings of the Van Loons in the next Sunday Post.
Aug 17 market brief shows call loans at 3 percent for both brokers and outside brokers, commercial loans 4 to 6 percent with collateral, and 4 1/2 percent for year money. The foreign exchange market is disrupted with lower rates. noon bid rates list Sterling $4.64, Francs 6.04, Marks 81. Check rates. Lire at 6.50. Curb list adds Driggs Seabury ordnance, Ely Giroux copper, and Sherman carbide with 20,000, 1,000,000, and 150,000–50,000 shares respectively.
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