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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 12, 1911
Page
14
The market recovered ground after a week of losses as bulls gained momentum from strong bank and steel reports. Supreme Court decision on American Tobacco and Hadley Commission findings supported optimism, with copper shares eyed for potential gains amid tight world supply.
The copper market showed solid firming with copper metal steady near 1312 cents and expectations of further advances in the coming weeks. The tone in New York supported copper shares as buyers sent in orders in the morning mail amid steel industry improvement indicated by a large rise in activity.
The weekly local bank statement compares current figures with the previous week and shows the surplus reserve levels for the same periods over the past ten years in New York and Boston.
The Boston curb market mirrors larger exchanges with notable activity. Corbin Copper traded 2670 shares between 21 2 and 38 16, Pond Creek Coal advanced from 16 1 4 to 1 8 4, while Butte Central Calaveras Rhode Island Coal Porcupine Northern and Bay State Gas all remained firm in price.
Reorganization completes with the Consolidated Nevada Utah Company formed in exchange for stock from current holders. Bonds to be issued by the Consolidated Company will be taken by a syndicate and offered pro rata. W W King of Columbia Trust, W J Palmer and L Vogelstein to name first directors.
The Boston Post previews a financial page analysis noting Allis-Chalmers Co as a leading candidate for receivership among major railroads and industrials. It states preferred and common stocks have been nearly worthless under the current financial system and signals an imminent reorganization.
Medford and Melrose Mass see issuance and awards of public bonds. Medford seeks bids by December for 4000 four percent notes and 8000 coupon bonds, with annual 1000 redemptions through 1919. Melrose awards 27000 four percent bonds plus sewer water and drainage issues to Kuhn Fisher at 102.67. Allegheny County Pennsylvania awards 1.55 million four percent bonds to a Pittsburgh and Boston syndicate at 100.018.
Dividend notices list multiple firms with payment dates and record cutoffs. American Cigar Co assigns 3 percent preferred (record Dec 16, Jan 2 payable). Toronto Railway Co pays 2 percent (record Dec 15). Canadian Westinghouse Co Ltd posts 11-2 and 1 percent extra (records Dec 80, reopen Jan 10). Dominion Canners Ltd 13-4 percent preferred (record Dec 15, reopen Jan 2). State Street Exchange 871-2 cents quarterly (record Dec 1, Dec 15). State Street Trust Co 2 percent (record Dec 23, Jan 1). Nipissing Mines Co 8?5 percent and 21-2 percent extra (record Dec 30, Jan 2). Union Bag and Paper Co quarterly 1 percent preferred (record Dec 230, Jan 15).
The Nevada-Utah Mines and Smelters Corporation announces a plan to reorganize by forming a New Company. Stockholders exchange their shares for New Company stock tied to First Mortgage Bonds underwritten by Hirsch Syndicate with a pro rata offer. A nominating committee from New York will select management and a mining engineer will oversee development. Books close December 23, 1911 to February 5, 1912.
A Sunday night to Monday morning fleet of 29 fishing vessels delivered 668,300 pounds of fish, with haddock and cod leading the catch. Prices ranged from 21-4 to 43-4 cents per pound for haddock and cod, while several boats did not sell their large hauls hoping for better demand today. The sailing ships Regina Lillian and John J Fallon held back their catches awaiting higher prices.
Arrivals and clearances list a variety of ships and tugs with ports from Newport News to Baltimore, including steamers and schooners. Notable names include IsIeWorth Blair C B City of Macon and Vulcan naval collier, with movements to destinations such as New York Boston and Norfolk. From Roads Pendleton Bros Georgetown S C.
Former Midshipmen Charles L. Clifford of Massachusetts and Gaston Lee Holmes of Mississippi, backed by Congress, asked the House Naval Affairs Committee to reinstate them after their February desertion dismissal from the Naval Academy. They said a missed train while on shore leave led them to stray three days in Norwegian coastal terrain and hindered contact with their squadron. The committee reserved its decision.
LENOX Dec. 11 Henry Houghtaling 88 years old who held the Boston Post’s gold headed cane as Lee’s oldest man died today with the cane in his hands. The cane passes to Thomas Wilson on Centre street Lee who is three days younger and has crossed the Atlantic ten times, five since turning 80. He first came over in a sail boat.
The 17 month old infant daughter of Captain J E Hunter known as Baby Beatrice died while traveling on the steamer Carisbrook. The child had spent most of her life at sea as part of the shipboard family.
Miss Beatrice Hunter a 17 month old aboard the British steamer Carisbrook with Captain and Mrs J E Hunter has crossed the Atlantic three times and visited British Spanish and French ports. Her father Captain Hunter is one of Britain's youngest steamship captains and master of the Carisbrook. Steam conditions were rough near Huelva with waves making decks unsafe but the child amused herself in the cabin.
London reports the death of Sir Joseph Dalton Hooker born 1817. A Glasgow trained physician, he joined the Ross Antarctic expedition at 21 as naturalist and assistant surgeon. He later led botany at the Geological Survey, explored Indian flora, headed Kew Gardens, and served as Royal Society president in 1873.
The funeral for John E. Cassidy, a respected Boston merchant for over five decades, was held at Church of Our Lady in Newton. Services began at 9 o'clock with a solemn high requiem mass conducted by Rev. Michael Dolan, assisted by Rev. James F. Kelly and Rev. Aloysius F. Malone. Pallbearers included James, Ower and Charles Donahue, Dr. E. P. Carroll, and nephews William and Charles Thornton from Lowell.
James Sweeney, without a home, arraigned before U S Commissioner Hayes on a complaint by Secret Service Agent Joseph Murphy for passing a counterfeit dollar altered to ten. Held in $500 bail for hearing December 14 at East Cambridge jail after arrest for drunkenness following offering the bill for a cigar. The note bore pasted "10" over the "1" on both sides.
George W. Brown and five United Shoe Machinery officers appeared before Judge Dodge in the U.S. Circuit Court to post bail on Sherman anti trust charges. Brown, traveling a 22 000 mile voyage to Europe and South America, joined others with bail set at 10000 dollars furnished by the Massachusetts Bonding Insurance Co.
Regular train service on the New Sweden extension of the Aroostook Valley Railroad began today on a two trip schedule. The 11.88 mile line passes through Washburn Woodland and New Sweden and serves potato growers in those towns and Perham who previously hauled tubers to other railroad points.
Washington dispatch reports President Taft sent to the Senate the nomination of Eugene P. Nute for United States marshal of the district of New Hampshire. The action follows a routine list of appointments and reflects Taft's choices for federal law enforcement leadership.
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