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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 21, 1917
Page
16
After a sharp early drop in rail shares and steel to new lows, the market rallied on peace news and rivals like Utah Copper. Foreign buyers and the Treasury ruling aided the turn, with Baltimore & Ohio delaying dividends while investors watch for a possible favorable government plan for railroads.
Total sales in New York reach 593 900 shares and Boston 14 815. Steel leads New York with 167 900 shares and Utah Metal tops Boston with 1 075 shares. For the period Jan 1 1917 to date New York holds 224 943 946 shares and Boston 5 984 859. Compared with last year New York shows 221 300 137 and Boston 12 699 695. Major gains include Lorillard in New York up 5 1 4 to 152 1 4 and Atlantic Gulf in Boston up 2 1 4 to 93 3 4, while American Snuff in New York falls to 80 and Island Creek Coal in Boston drops to 52.
New York trading opened with many securities at new lows amid rail dividend anxieties and a weak crop report. By midday rails and industries found tentative support, and in the final hour leading stocks rallied with United States Steel rising toward 23 8 and Union Pacific rebounding over eight points. Bond activity totaled $5.125 million with international issues firming and domestic issues mixed.
New York stock market quotes show daily highs and lows for the session dated December 20, with closing prices and net changes from the previous close across major indexes and securities.
The Bond Market New York December 20 reports prices of new U S bonds in units and fractional hundredths. The decimals in the subjoined table show hundredths.
Curb sales figures show Boston and New York delivering total sales of 5 326 000 today, vs 5 172 000 yesterday and 5 092 000 a week ago. Year to date reads 31 010 726 000, higher than 1 131 096 000 last year and 923 610 000 two years ago.
In yesterday's late session, Boston stocks mostly failed to follow New York gains. Atlantic Gulf rose sharply from 92 1 2 after strong marine stock strength, while Swift Telephone and Fruit led gains and Boston Maine advanced on light volume. United States Smelting weakened to 40 amid expectations of silver demand and possible tax effects on Mohawk with an implied $20 earnings and planned after-tax dividend changes.
In afternoon trading banker business showed lire and Swiss francs weaker. Sterling-Cables quotes: demand 4767.16, 4758.16. francs 5.7314. guilders 4334. lire 8.34. roubles 12 percent. Swiss francs 4.33.
A special ship arrived at a French port with 20000 sacks of Christmas mail for American troops. Army post offices will use 50 freight cars and a large staff to rush the mail to 20 branch post offices for distribution by Christmas Day.
Steam railways report light coal shortages while barges carry 30 000 tons toward Boston. Fuel Administrator Storrow coordinates relief as mild weather aids movement. Bay State Street Railway curtails service to conserve coal and the Public Service Commission weighs in on timing and legality.
Beginning Sunday many churches will aid the coal saving drive by shortening night services to reduce heat and light. Some churches may drop night services after the holidays while representatives warn promises are unreliable amid coal shortages. Properties of the Bay State Company suffer car heat cuts as 900 miles of streetcar lines enter receivership due to coal costs and service adjustments.
Washington conference among Fuel Commissioner Garfield New England fuel administrator James J Storrow and New England governors and senators discussed coal distribution from Western and Eastern fields to tidewater for New England. They noted Boston’s reduced electric railway traffic and the risk of extended Christmas recesses without adequate coal. Participants included Governors Holcomb Keyes McCall Graham and others with Senators Gallinger Dillingham Brandegee McLean Gerry and Hale.
Word from Delaware Breakwater reports a fleet of barges carrying about 80,000 tons of coal en route to Boston and New England ports. The convoy, delayed by weather, set sail as fog cleared and is expected to reach by Sunday with limited relief to coal shortages.
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