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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 06, 1912
Page
18
The company owning the city and suburbs street railway system for Montreal and surrounding areas is offering bonds at 99 1/2 with accrued interest. The system serves over 500,000 people, earning $1,902,480.48 for year ended Sept 30 1912, about 2.5 times interest charges.
N. W. Harris & Co and Perry, Coffin & Burr issue jointly 1,000,000 Montreal Tramways Company First and Refunding Mortgage 5 per cent Gold Bonds dated July 1, 1911, due July 1, 1941, in 500 and 1000 denominations. Previous issues listed on Montreal Stock Exchange with plans to list on New York and London Exchanges.
Suffolk, ss Boston December 5th 1942 Curtis Chip Man Secretary and Asst Treasurer BE J Bradleer Vice President and other directors of Bay State Trust Company swear the foregoing financial statement is true to the best of their knowledge. Notary Public Rern W W Newhall witnesses. Bond market and U S government bonds listed with various securities and values. Total sales 2,003,000, holiday week, year-to-date figures and reserves noted.
A curb list from Boston highlights several stocks with varied moves. Goldfield Consolidated fell after dividend news, Alaska Gold eased to 9 1/4, Mexican Metals and Bay State Gas held near prior levels, Nevada Douglas slipped to 3, and Butte Central dropped to 8 1/2 as market activity for Goldfield and others drew attention. Detailed fluctuations accompany the report.
Market notes reference Pub 8 of New Jersey 5s amid trading activity on Wall Street. Investors weigh yield movements and liquidity as bonds and equities respond to interest rate expectations and inflation signals.
The Board of Directors declares a 1 percent quarterly dividend on the company capital stock. It will be payable on December 80, 1912, to stockholders of record at the close of business December 23, 1912. Sellers Bancroft, Trens. Philadelphia, December 3, 1912.
Broad stock market selling drives most issues lower with Steel Common sinking to 6814 and Union at 167. Copper shares break sharply as Lake falls to 27 and Wolverine to 70, hitting 1912 lows and marking a severe market downturn.
Point totals show New York and Boston daily and year to date shares traded. Highlights include Southern Pacific gains in New York and Old Colony R. A gains in Boston, with Am. Brake Shoe and Boston & Providence among notable losses. Call money and time money ranges noted for both cities.
The New York market faced intensified selling momentum on December 5 with wide losses across industrials and rails led by Steel and Amalgamated. Prices dropped to six month lows before concerted support checked the slide, total dealings near a million. Confidence waned as lending institutions rejected collateral on weaker non dividend stocks.
The Boston market reports sharp early declines across copper and industrial issues led by Steel common and Granby. Heavy selling in 8074 shares, 51 02k total for the day, left prices at session lows with only fractional rebound at close and an overall weak tone.
Dec 5 reports describe the cotton market as irregular and unsettled with signs of manipulation. outsiders face danger, public interest has fallen off in the past week, and trading shows alternating strength and weakness despite occasional buying spurts.
Money markets remained firm with on call funds in slightly stronger supply in New York while prices held near yesterday's levels. Call funds traded between 6 and 7 percent, with time funds at 6 1 2 to 6 1 4 percent for 60 to 90 days and 6 3 4 to 6 percent for five to six months. Current local money rates and foreign exchange quotes were unchanged.
Grain markets show Liverpool and Argentine drought news keeping wheat firm early with modest December gains while distant futures drift. Corn advances fade, December cats stay firm, and distant months close lower. Paris Antwerp Berlin and Budapest mirror mixed demand. Receipts in Minneapolis and Duluth climb with total weekly wheat and corn feeds. export sales report Manitoba wheat and corn. municipal bonds and 50 year Tampa bid notices included.
At the metal exchange today dullness persisted with bids and asks for copper tin lead and zinc. London market closed with copper spot £75 17s 6d futures £76 15s while lead and tin moved modestly and sales volumes ranged around hundreds of tons.
Towell Mass will receive bids until 11 a m December 9 for twenty one thousand eight hundred twenty five dollars of four per cent municipal loan bonds dated August 1 1912 payable 1920 21 Lynn Mass will take bids until 9 a m December 10 for four per cent bonds including four thousand fire and police dated November 1 due 1913 to 1917 824Lr
A dense list of bid and ask quotes for multiple securities including Am Cement, Am Rys, Cam Steel, PEI, Phila RT, Belmont, T Belmont, UTr, G Asphalt, H& BT, RR, Int Ry, Valley, Pa Steel, and others. Prices show current trading ranges, percentages, and preferred par or yield indicators, reflecting a snapshot of market activity.
The market fell again on heavy volume, with trading near the million share level. Southern Pacific stood out as the sole strong issue amid expectations on Union Pacific and Central Pacific deals, while American Smelting faced tariff and Sherman law concerns and the money market remained tight after a $5 million bank deficit. United Fruit’s 1912 showing is reviewed with charges against earnings and large asset write offs. Great Northern Railway unveils new stock plans without full details.
Announcement covers an issue of $21,000,000 new stock offered to holders at par to acquire stocks and bonds of other firms. Major targets include the Montana Eastern railroad and other feeders of the Great Northern. Subscription rights valued around $3.30 per share. Previous issue in 1906 raised $60,000,000, totaling $210,000,000. Great Northern expected to earn about 12 percent this year. Municipal bond issuance soars with $350,000,000 borrowed in six months ending Nov 30, triple 1901 levels. Public spending increases cited as a factor.
City of Boston voters approve amendments to Street Commissioners rules to allow stops for passengers near the Common and Public Garden, set time limits and add a one way street on Blackstone at certain hours, with renumbering and new permit condition. Officials: Salem D. Charles James A. Gallivan John H. Dunn.
The Board of Election Commissioners announces voter registration periods at 100 Summer St from December 6 to 11, daily 9 am to 5 pm with Saturday 1 pm close, and December 12 to 28 from 9 am to 5 pm and 6 pm to 10 pm with Saturdays 11 pm close, plus December 24 9 am to 10 pm. Outside ward registration ends December 24 at 10 pm. No Sundays registration. City Election set for January 14, 1913. Mindom Burlen Sanford join Martin on the Commission.
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