Utah Securities Stock Bought and Sord Richardson
A report notes Utah securities purchase involving Sord Richardson, Hill & Co. located at 50 Congress Street. The brief item confirms a stock transaction tied to the firm and its address.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 10, 1912
Page
14
A report notes Utah securities purchase involving Sord Richardson, Hill & Co. located at 50 Congress Street. The brief item confirms a stock transaction tied to the firm and its address.
Lowell awarded 5100 four percent road bonds due 1913 to 1922 to Estabrook & Co with several other bidders named. Malden invites bids by Dec 12 for 150000 notes payable in six months. West End Street Railway seeks authority to issue 600000 five percent bonds and 4400 shares of stock to reimburse Boston Elevated for improvements totaling 982671. Stone & Webster offers 800000 five percent first mortgage bonds for Eastern Texas Electric due 1942 at 94 yielding 5.40 percent. the firm controls bonds and stocks in Beaumont Port Arthur electric interests and a Beaumont Port Arthur interurban project.
Wheat and corn eased after early strength as distant wheat and December corn slumped. December wheat slid about six million bushels visibility, with losses near session lows. Corn fell on cold weather and improved receipts, December closing 1 to 1 1/2 percent lower. Oats held firmer, closing modestly down. Government winter wheat condition at 93.2 versus last year and ten year average. Area figures: 382,387,000 acres with cane revised at 33,215,000.
Market activity shows a liquidation driven drop with New York tallying 989,400 shares and Boston 52,993. Steel common led trading in both cities with 216,800 and 9,195 shares respectively. Year to date totals reach New York 123,644,700 and Boston 10,728,634, versus last year’s 118,282,800 and 6,375,471 shares. Major gains include Public Service Co of N J in New York and Chicago Junction Rus in Boston. notable losses involve Chicago & Alton pref in New York and Ahmeek Mining in Boston. Call money sits around 4–6 percent in New York and 6–8 percent in Boston. time money ranges 5 3 4 to 6 1 2 percent in New York and 5 1 2 to 7 percent in Boston.
New York market forces driven by anticipation of Supreme Court rulings trigger broad liquidation across sectors. Major declines hit Union Pacific Reading Steel Amalgamated Copper and American Smelting with 2 to 5 point losses. Brokers cite out of town selling and margin pressure as loans shrink and liquidity tightens.
The Boston curb market centered on Butte Central with shares dropping from 71-2 to 51-2 and closing at 53-8 after a raid driven plunge. An official cited doubled short interest and noted borrowing difficulties, insisting the company’s property is sound and funds ample. Mexican Metals receipts stayed steady with insiders again buying. Bay State Gas Calaveras and Boston Ely also drew interest as detailed fluctuations continued.
Boston trading showed a strong bear bias with prices slipping about a point and only selected late buyers supporting declines. Copper shares fell to 43.60, down 1.64, while copper producers reported a May rise of over 9.4 million pounds, yet the market still sold off heavily.
Local bank statement compares this week's reserves with last week and reviews surplus reserves for the same periods over the past decade in Boston and New York. The report highlights year to year trends and regional liquidity differences.
The sheet lists bids and asks for December January February dates, copper lead spelter tin and electrolysis prices, with notes on quiet markets and steady leads. London closing shows copper at £75 17s 6d spot, lead £18 1s 3d, spelter £26 10s, tin £226 10s spot with modest futures movement.
Copper producers show a favorable monthly report with a 9 419 000 pound rise versus 10 to 15 million expected. October totals drop while exports rise, and stocks climb 20 million pounds since January. Cotton yield forecasts loom, steel unfilled tonnage eyed, Ojibway Mining imposes a 1 per share assessment to fund another year amid grumbling over payment timing.
Thirteen fishing vessels arrived at T wharf offering fares for sale. Haddock traded at 7 1 4 to 7 3 8 cents per pound and steak cod at 10 cents. Swell led arrivals with 60,000 pounds groundfish. Reports note rough Atlantic weather yet warm seas. Also: Sally Ludlam aground near Digby. Tacoma visiting to secure ammo and repairs. Numi dian sails to Glasgow with 38 cabin and 74 steerage. Marquette due after delays. Corinthian may arrive later.
A compact listing of securities and corporate notes including Childs Co. common and preferred stocks, Converse Rubber Shoe Co. and National Enam. & Stg. issues, Erie & Pittsburg, Norfolk Ry. & Light, Amer. Car & Foundry, Central Leather and Central R. R. of NJ preferreds, Central States Elec. preferred, New York New Haven by Hartford, old Dominion entities, N J Rubber Goods Mfg. Co., Swift & Co. stock, Tonopah Extension, Union Tr., Phila. issues, Woolworth preferred, Fitchburg R R. preferred, and notices of upcoming meetings for Amer. Brake Shoe & Foundry and International Steam Pump.
The excerpt shows bid and asked prices for rail stocks, cereals, and utilities, with numbers for preferred shares and various company bonds. It lists Armour 44s, Com Ea, UC Ry, Met El 4s, and other tickered issues, indicating a period-style market snapshot with percent ranges and par values.
New York call loan rates eased from 6 to 4 1 4 percent amid abundant funds yesterday. Time funds ranged from 6 1 2 to 6 3 4 percent for 60 to 90 days and longer terms. Heavy loans at 5 percent indicated a temporary softening, with a generally easier tone than last week.
Washington reports the House banking and currency committee opened its money trust inquiry. Eleven bankers from Pittsburg Philadelphia Baltimore and New York testified on clearing house rules forcing commissions on out of town checks. Arguments centered on whether these practices benefit earnings or seize bank control. W R Frew of the New York Clearing House Association was sworn as the day ended with tomorrow’s session to begin.
Shipping ledger notes sun and tide details followed by arrivals and clearances. Vessels entering include United States gunboat Tacoma and multiple steamers bound for Liverpool Naples and Barbados while others depart to Yarmouth Savannah and Norfolk. Tugs, barges, and schooners listed with craft names and destinations in a dense port record.
Bond prices average lower today than in early 1908 as living costs rise and demand for higher income grows. Competition from new securities paying more profits also lowers values, while rising money rates accelerate the decline. Dealers expect notable improvement next year.
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