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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 12, 1914
Page
12
Members at 74 State Street include officials and brokers associated with the Boston and New York Stock Exchanges. The listing notes firms operating from the address and references their exchange memberships. No further dispute or event is detailed in the fragment.
Independent Bondholders' Committee invites deposit from holders of first mortgage bonds for potential future reorganization. They announce intervention rights in any foreclosure and protection against prejudicial sale, and note open deposits are currently held. Jos R. Donaldson, Shawmut Bank Building, Boston. American Trust Co., Boston, depositary.
Brokers and state tax authorities clash over transfer taxes for stock purchases under new state and federal rules. Double transfers can trigger three taxes in several states, with six taxes possible if certificates are held in broker names before client transfer. The industry urges a single tax per transaction to simplify the process and reduce costs.
After eleven business days of inactivity due to European war conditions the New York Stock Exchange will reopen with limited dealings. About 182 stocks will be eligible, including several three- and four-store names, while many internationals such as Union Pacific Southern Pacific Canadian Pacific Baltimore and Ohio New York Central Illinois United States Steel and Anaconda Mining will remain off the open market due to foreign-holdings and Berlin influence. Authorities say the move aims to prevent heavy prearranged liquidation and curb speculative trading by forcing cash purchases or regular way trades.
The bond market shows Consolidated Gas convertibles trading below yesterday’s open. Kansas & Texas firsts rise 3 points while Chesapeake & Ohio convertibles post gains. Missouri Pacific 4s and Wabash issues stay firm. C B Q joint 4s edge over par. United States government bonds noted.
December dollar and money market quotations show calls on brokers at 5 percent and up, year money at 5 percent, and commercial paper at or above 5 percent. The Clearing House and Sub-Treasury figures appear, with foreign exchange market firm and bankers’ bid asked spreads noted. noon rate quoted for guilders at 403. The text records varied rates and the general tone of a steady money and exchange market.
The Thomas W Lawson Company incorporated in Massachusetts filed a June 30 1914 financial statement with the Massachusetts Secretary of State showing cash and debts receivable of 605 against a floating debt of 1 385 856.
The county is obligated to return 27678 dollars to the Utah Copper Company after an over assessment determined by the State.
Receivers of the St. Louis and San Francisco plan to issue 6 percent certificates totaling 3 million dollars to replace the outstanding 3 million six hundred dollar issue maturing January 1.
The annual report of the commissioner of internal revenue shows 357,598 filers reporting 138 million dollars in income for the year, with 278 82 married, 55 212 single men, and 23 451 single women. Normal tax yielded 12 728 088 dollars. surtax on incomes over 20 000 produced 15 525 497 dollars across brackets up to 600 000.
R G Dun weekly review notes slow but clear improvement in US trade with holiday buying rising and colder weather boosting retail distribution and wholesale activity. Iron and steel use increases, prices stabilize, and rail orders dip to limited quantities. Dry goods demand improves while wool and leather sectors stay active. US and Canada failures decline from year-ago levels.
At a public hearing in the Mayor's Office, representatives from the Boston Common Society the City Art Department the Transit Commission the Parkman Fund the Boston Elevated and the Park and Recreation Department agreed subway exits on Tremont Street and the Common should be changed but each sought others to pay. Mayor Curley endorsed Cambridge style heads as a fix but urged delaying changes until Boylston Street widening is planned.
Freeman Gc. Fitzgerald of Cosmonpolis Washington was chosen captain of the 1916 Notre Dame team succeeding Charles Finnegan who resigns as captain because he graduates next June. Electrolytic copper sold at 13 14 cents with demand from brass manufacturers for munition goods.
Commemorations highlight two centuries of friendship between Great Britain and Portugal and their enduring partnership across politics trade and defense. Officials note shared history dating back 250 years with cultural and economic ties broadening today.
Lawyers argued immunity pleas for John L. Billard James Elton and William Skinner among 21 directors of the New York New Haven Hartford Railroad in a Sherman law case. Judge Grubb heard the sessions in federal court and deciding dates for remaining defendants. The defense claimed compelled testimony by statute granted immunity while prosecutors argued the privilege was not earned. The hearing continues tomorrow.
On the immunity issue Judge Grubb refused to allow John L. Billard to file a plea in abatement similar to those by William Rockefeller and eight New Haven directors. He ruled it too late to enter the plea as urged by prosecutors and noted the prior sessions on the Rockefeller plea. The government seeks dismissal of the immunity pleas with testimony before the Interstate Commerce Commission given in May and June.
A Progressive party petition at the State House seeks state ownership of a majority of Boston & Maine stock. The plan mirrors last year’s Burbank bill, authorizing the treasurer to take shares from the Railroad Holding Company and appoint five trustees to vote the stock. The chairman would be paid up to $20,000 annually, with the other four trustees capped at $14,000 combined. Granby Consolidated Mining Smelting & Power Co orders resuming work at the Grand Forks smelter, blowing in two furnaces while six remain idle.
Justus J. Evans who calls himself Archbishop President of the High Educational College of Glory appeared in Poor Debtors Court claiming 46 cents in assets. Judge Sheehan refused his petition for the poor debtor's oath.
In Roxbury at 74 Highland street the High Educational College of Glory's mansion faces a lawsuit over a $500 debt. Judge Sheehan rules Evans lacks right to the poor debtor's oath despite Evans’ claim of bank ownership and his own portfolio of supporters from the college.
The report states Portugal produces 88 60 000 gallons of wine annually. England imports about specific large value worth of wine, while France imports a similar amount. The figures illustrate a substantial European wine trade balance among the three nations.
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