This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!
This newspaper page contains 19 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Aug 30, 1912
Page
12
Markets show broad weakness with declines across sectors. Louisville and Nashville plan to issue new stock while United Shoe Machinery remains strong. Tobacco stocks soften further and General Motors stays active and firm. Alaska Gold makes its debut on the curb.
Total sales in New York 247 800 shares and Boston 22 926. most active New York steel common 40 400 and Boston Shoe Machinery 3949. Year to date New York 86 739 100 shares and Boston 8 151 912. last year New York 72 593 700 and Boston 4 095 908. Notable gains and losses include General Motors up 1 percent to 4134 in New York and G W Helme Co down to 18934. Prov and Worcester R A up 3 percent to 276 in Boston and Wolverine Mining down 21 percent to 105. Call money New York 3 percent. Boston 3 4 percent. Time money New York 3 34 to 5 percent. Boston 5 to 5 - percent.
New York market watchers note the August 4 percent bank rate in London dampens bullish trading as treasury discounts run above the rate. Local call money climbs briefly to 3 percent while time loans tighten. Louisville and Nashville announces a 20 percent stock increase, par offered, briefly lifting some shares before returns faded.
Alaska Gold Mines from Hayden Stone & Co made its debut on the local curb, with price moves from 8.50 to 9.00, then 8.875 and closing at 8.50. Subscription price set at 5. Allotments expected later today. Other activity centered on Calaveras, Davis Daly, Lion Hill and Bay State Gas.
In Boston on August 29 the market showed a quiet holiday mood as brokers prepared to close for three days. Shoe Machinery led gains to a new yearly high of 57.5 with speculation tied to future settlements and dividends. American Telephone softened on worry of Sherman anti trust suits while Isle Royale’s Kearsarge lode developments were awaited this week to boost mine value.
Shipments from the Mass Mining Co. now average slightly over 600 tons per day. The ongoing labor shortage remains the main factor deterring fuller production.
An official of a major Boston bank warns that money rates will be higher in the coming months, with call rates in New York above 3 percent. The crop moving season will intensify demand, and the Bank of England rate rise could trigger U S gold flows. Bank deposits in New York show strain while Western markets surge. Copper prices near multi-year highs spark talk of a stampede and potential supply shortages. The Louisville & Nashville announces a new stock issue, expanding capital to 72 million dollars, with Atlantic Coast Line poised to benefit and consolidate control efforts dating back to 1902.
Liverpool yesterday opened unchanged with fair strength in Manchester. Short covering rose 5 to 9 points then eased below prior close as National Ginners put crop condition at 74.8 and Texas suffered 20 points more loss. Trade absorbed government figures 74 to 75 with no holiday rush, bear pressure absent and undertone strong despite small setbacks.
Metal exchange quotes a generally steady tone with copper firm and late months up about a cent. Tin strengthens, lead rises, and spelter gains in bid and asked. London market shows copper at 78 pounds 16 shillings 3 pence per ton, tin up, lead and spelter steady, with iron unchanged.
Markets and mining notes cover Alaska Gold Mines near Juneau placed on the unqualified list amid capitalization of 7.5 million dollars with 614700 shares issued. Transfer agents named. executives listed. Other items note Ohio Copper Company profits, reorganization share deposits, and mining progress at Hancock and Isle Royale No. 7 shaft. Anticipated Sears Roebuck August sales rise 15 to 20 percent. wheat storage in Canadian terminals up over a year. GE stock dividend approved. Bank of England rate hike. L&N proposes stock increase to 72 million dollars with 20 percent rights for holders.
North Attleboro awarded 6000 four percent paying bonds dated Sept 1 1912 with 1000 yearly maturities 1913-1918 and 20000 four percent water bonds maturing 2000 annually 1913-1922 to N W Harris Co Other bidders listed Dedham invites bids for 10000 four percent notes 38 to 47 due 1916 Belmont awarded 5000 surface drain and 8000 fire apparatus bonds to W L Raymond Co other bidders listed Palm Beach County seeks bids for 60000 and 85000 four and five percent road and bridge bonds maturing 30 to 40 years Pawtucket approved a temporary 115000 loan at 43 4 percent discount to a local bank.
Fort Wayne and Northern Indiana Traction declares regular quarterly dividends of 1 to 2 percent on preferred stock payable Sept 8 to stock recorded Aug 22. Joseph, South Bend and Southern Railway notes regular semi annual dividends of 2.5 percent on preferred and 1 percent on common payable Sept 16 with books closing Sept 10 and reopening Sept 17. Cambria Iron Company posts regular semi annual dividends of 2 percent payable Sept 1.
Good demand and short-covering pushed wheat higher with gains up to 7-8 cents in places. Corn futures stayed firm on bullish crop warnings from the Southwest while oats and other grains followed with modest advances. World price moves included gains in Liverpool and Paris with mixed nearby futures and export volumes reported.
The Bank of England raised its discount rate from 3 to 4 per cent signaling tighter money. Locally six per cent money is predicted by October with talk of higher rates in New York. Call money sits at 3 per cent in New York, and various time rates are quoted across maturity ranges. Transfers from New York to Montreal surpass 1.3 million while San Francisco shipments are rumored. The paper market remains quiet with country banks showing modest demand. Local rates and foreign exchange quotes are listed.
Market quotes list bids and asks for cement, rail, steel, gas and electric stocks. Notable entries include Am Cement at 14 percent bid, P H Cement 12 13 percent, Elco Am 12 13 percent, Pa Steel 50 cents to 60 cents with ex-dividend noted, and various pref shares around 44 to 68 percent.
Calendar lists ex-dividends and stock key dates for American Coal, American Express, American Smelting and Refining, American Telegrpah and Cable, Boston and Albany and Boston and Maine Railroads, Canadian Pacific, Crown Reserve, Diamond Match, Eastman Kodak, Kerr Lake, Laclede Gas, Norfolk and Western, Northern Ohio Traction, U S Steel, KF, Woolworth and General Electric ahead of a general meeting.
The bond market shows continued inactivity with only a slight improvement in tone from yesterday noted but barely sustained.
U S Attorney French said a Supreme Court appeal could secure a public hearing of testimony in the Sherman Act suit against United Shoe Machinery. He questioned whether the government would accept the circuit opinion which excludes public and press from in equity testimony hearings and stressed the case's far reaching importance to justice.
The battleship Illinois, built at a cost over $2,000,000, has paid out more than $750,000 on overhaul and will depart Charlestown Navy Yard this morning for New London.
We want people to find what they are looking for at NewspaperArchive. We are confident that we have the newspapers that will increase the value of your family history or other historical research. With our 7-day free trial, you can view the documents you find for free.
People find the most success using advanced search. Try plugging in keywords, names, dates, and locations, and get matched with results from the entire collection of newspapers at NewspaperArchive!
You can also successfully find newspapers by these browse options. Explore our archives on your own!
Browse by location and discover newspapers from all across the world.
Browse by date and find publications for a specific day or era.
Browse old newspaper publications to find specific newspapers.