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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 27, 1913
Page
8
An editorial analyzes copper prices from 1880 to 1913, noting a general shift toward higher averages and linking price movements to production changes. It concludes current high levels may persist for years unless overall business deteriorates, with limited near term risk of excessive output.
July production reached 4 097 000 pounds, down from 4 392 612 in June and 4 520 000 in May, with seven months totaling 29 936 000 pounds. Montpelier & Barre Light & Power votes to increase capital to 2 310 000 by issuing 2100 preferred shares at par. George Isaac Sprague returns to desk after year abroad. Ohio Copper report criticized for 15 cent per ton haulage contract with Bingham Central Railway. Big Four railroad maintains 11 4 percent preferred dividends, a long-standing payout.
The market shows New Haven at a new low of 924 amid aid comparisons. The 1889 New York Central weakness fades as the Big Four move past the preferred dividend, while Panhandle bonds sell quickly.
Total sales yesterday show New York at 218 900 shares and Boston at 14 660. The most active issues were Steel common in New York with 53 600 shares and New Haven in Boston with 2252 shares. Year to date totals prefer New York 56 996 400 and Boston 3 480 054 shares. Compared with last year New York traded 85 832 200 shares and Boston 8 047 606 shares. Texas Co. led New York gains at 2 points to 125, while C C C St L fell 5 to 35. In Boston Inter Smelting rose 2 to 112, Calumet Hecla dropped 15 to 410. Call money stood at 2 1 4 percent New York and 3 percent Boston. Time money ranged 3 1 2 to 5 3 4 percent New York and 5 1 2 to 6 percent Boston.
Early trading unsettled by mixed results with New Haven plunging to 92 1 4 amid earnings doubt. A government message delay spurred a swift rally as bears reversed, with Texas Company at a yearly high and Big Four preferred dropping on dividend news. London selling and foreign activity weighed on stocks while bonds stayed quiet.
In midweek trading New Haven fell to 92 1/2 a drop tied to accounts closing to raise funds for convertible bonds. Calumet & Hecla declined 15 points to 4 10, while Steel common remained solid. Boston & Maine slipped as market closed with fractional losses across the list.
Prices ruled firm with the day’s strongest activity in 1963 43s, Baltimore & Ohio 4s, B and O New York New Haven Hartford issues, Southern Pacific convertibles, and New York Railways adjustments. United States Government bonds noted.
Groundfish landings at T wharf stirred steady prices with slight gains from late last week. Beam trawlers Surf and Spray reported 14,000 pounds of scrod. M. Silva brought in 80,000 pounds of halibut. Tecumseh and J. Gilbert offered 44 and 36 swordfish respectively. Stakes included large Irish mackerel shipments to Boston and New York, plus new beam trawler trials and harbor safety patrol upgrades.
Mexican Metals led activity with 12,718 shares in tote curb trading and a price slide to 28 cents, a new low. Other notable issues included Butte and London, Nevada Douglas, and Calaveras as prices fluctuated amid mixed demand.
Mackay Companies declares quarterly dividends of 1 percent on preferred and 144 percent on common shares payable Oct 1 to stock recorded Sept 13. Central Leather Co issues 1 percent on preferred payable Oct 1 to record holders Sept 10. National Carbon declares 1.34 percent on common stock payable Oct 15 to record Oct 4. Galena Signal Oil pays 3 percent on common and 2 percent on preferred, with Sept 30 payment and Aug 30 record. Globe Soap declares 1.14 percent on first second and preferred stocks, books close Sept 1 reopen Sept 16.
National Lead announces books open for today’s calendar items. pf.
Schenectady New York invites bids by 11 a m on Sept 2 for 300000 of park bonds bearing 4 to 5 percent interest dated July 1 1913 and maturing 15000 yearly 1914 33. Kuhn Loeb Co and Speyer Co report re sale of 8700000 Pittsburg Cincinnati Chicago and St Louis 454 percent consolidated mortgage gold bonds to them and re sold.
George R. Armstrong and family left town for a three week Maine tour as W L Russell Co treasurer. Bay State Auto Association president Gilmore, golfer, and W H Stevens, expert player, hint at a fall tournament. Inter-State Car Co will move into 618 Commonwealth Ave salesrooms by Oct 1. Superior Accessory Co gains Lozier building plant with officers McCarthy, Woodruff, Gillespie planning a kerosene carburetor launch.
Asheville North Carolina August 26 Mrs Thomas Settle wife of the Republican State leader and a Van derbilt society member told a policeman she violated the law requiring license numbers to be displayed adding the maroon numbers on white board clashed with her black car so she had the numbers enameled white and thought it looked better
In The Pomeranian Riot a writer named Glenmore Davis promises a standout canine tale for the Post Magazine next Sunday. The piece hints at humor and bite, positioning Davis as a witty observer of dogs and society.
Shipping news lists numerous steamers and tugs making port calls and cargo movements. Names include Verona Oxholm Sosua Glennen O Donnell City of Gloucester Reliance Merriam Jonas H. French tugs Astral Mugun and more with ports at Newburyport Portland Boston and New York.
Buffalo August 26 delegates to the Fourth International Congress of School Hygiene favor open windows in winter class rooms as healthful and enhancing. Dr. Allen J. McLaughlin notes U S progress lags Philippines in applied hygiene and that home influence of school children is undervalued. Foreign delegates include Dr Borchardt from Charlottenburg and Dr Ernesto Cacace of Naples.
Dispatches report the Methodist Church at Ormsby near Bradford Pennsylvania was completely destroyed by dynamite. The explosion was heard for miles and windows were shattered. State constabulary investigates the incident.
In Sun day Post Magazine Francis E Leupp discusses the cost of procuring animals from around the world to educate a curious public.
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