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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Dec 22, 1913
Page
14
Readers send questions on listed and unlisted stocks and bonds of New England industrial and utilities, banks and mills. The financial editor will answer impartially from trusted data, but will not guarantee accuracy or market outcomes.
The Coal Lands Securities Company and Lackawanna Coal & Lumber Company are discussed with notes on underwriting, high speculative prices, and financing needs. Northern Idaho & Montana Power 6 percent bonds are labeled very speculative at around 56. American Real Estate Company of New York bonds deemed fairly well secured though debt equals much of asset value.
The Owens River aqueduct for Los Angeles is praised as a monumental 254 mile project. It traverses rock and mountain terrain, relies on concrete pillars and steel siphons, and is compared to the New York aqueduct which runs under the Hudson. Despite similar ambition its capacity is about half yet it is longer and far cheaper, highlighting its remarkable scale and cost efficiency.
Market observers note prices firming after week end strength, led by Steel Reading Union Pacific and Amalgamated while Telephone and Telegraph shares recover after a government settlement. Banking reserves rise to 17.5 billion dollars as New York clears, loan demand slows, and a cautious year end with potential early year rate support is anticipated.
A weekly note outlines select investment issues from leading bankers including Dominion Glass Company First Mortgage 69% Bonds and Joplin & Pittsburg Railway 6% Debentures. It notes prices, yields around 6.1 percent, and asset-backed, mortgage secured bonds with long maturities and backing by extensive property holdings and earnings.
Three hundred members of Suffolk county's Archdiocesan Federation of Catholic Societies at the annual convention denounced patrol wagons as a means of conveying children to police stations. Rt. Rev. Mgr. P. J. Supple spoke, reviewing past work and outlining future plans. Jeremiah E. Burke presided and new officers were elected including Supple as chaplain and Burke as president.
A heated exchange at the Roosevelt reception in Santiago featured Chilean diplomat Dr. Martinez arguing the Monroe Doctrine is a dead issue while Colonel Roosevelt defended it as vital. Both speeches were pre screened by the Chilean foreign office and a later campus crowd shouted Viva Colombia, though not reflecting general sentiment. A separate large meeting of the NYNH&HR Lodge 12 engineers was held in Lawrence Hall yesterday.
Boston and Maine railroad veteran James Brown of Stoneham plans a yearly memorial service in churches across New England to honor railroad workers who died in the line of duty. A retired 28 year B and M employee once a freight brakeman, Brown aims to unite railroad executives and unions in this remembrance. He started as Salem’s first railroad messenger boy and rose to assistant yard master before health retirement.
A stove explosion at the Frank Cooperman home on Main and Sumner streets caused a blaze that forced 20 children at a party to flee through smoke. Mr and Mrs Cooperman guided the children to safety before he was overcome and rescued by firefighters. The two story wooden dwelling was badly gutted.
Washington December 21 The joint currency bill conference closed most issues after an all day session. Key decisions set a $4 million minimum for regional reserve banks and accepted the Senate plan for 12 to 12 regional banks. House compromise on stock subscriptions and director ownership was approved as details narrowed.
John P. Holland was elected president of the Bottlers and Drivers' Union, defeating Arthur Foley and D. J. Hallisey. Edmund A. Paul won vice president over Richard Perry. M. J. Hines was re-elected recording secretary and business agent, a post held for five years, defeating William Kebs. Healey retained treasurer against James Gilligan. Barbour re-elected sergeant-at-arms. McClusky and O’Brien joined auditing, Welch and Larkin tied for third on the committee. Cody elected financial secretary unanimously.
Union meetings and officer elections fill the week. The Boston Street Carmen's Union shifts its Thursday schedule to 9 30 a m and 7 00 p m at 724 Washington street. Jeremiah Murray is re elected recording secretary for the 18th term of the New York New Haven Hartford Freight Handlers' Union 70. Arena building engineers and firemen reported a Saturday night strike for a six hour day. Dock Freight Handlers Local 809 elected Thomas Casey as president. Union committees talked with the Boston Chamber of Commerce about the Everett gas and coke wharf strike. United Garment Workers re elected Ginsburg Bronsky Resnetsky and Silverstein. Lumber Teamsters re elected John F Sullivan as business agent. Moving Picture Operators union elections promise contests with candidates including William Gilbert Dwight Hutchings and William Wheeler. Barbers union plans a visit by International President Noschang. Lamplighters union sets anniversary for Jan 5 at Hibernian Hall Roxbury. Steamfitters 537 will meet Jan 81 after Christmas. Cigarmakers plan union label advertising for 1914. Teamsters joint council votes no weekly meeting. Newspaper Wagon Drivers union to nominate. Pressmen union backing international president candidate J Frank O Hare._union officials installed John Fay and Harry Jennings. A special report on the Be A 62 member settlement appears.
At a November 21 1913 board meeting in Boston Massachusetts the New York New Haven and Hartford Railway Company approved extending the period for accepting subscriptions under outstanding warrants for convertible debentures of 1913 to January 20 1914. Subscriptions must pay the face amount plus six percent interest from October 1 1913 to subscription date.
Attorney Peter J. Donoghue, former representative and ex business agent of the Lumber Teamsters Union, spoke at the Central Labor Union meeting in Wells Memorial Hall. He called the State workingmen's compensation law wholly inadequate and cruel, saying workers have lost since its enactment.
Massachusetts State Branch A F L executive board unanimously protests the appointment of John J. Donovan as Salem postmaster. The Salem Central Labor Union and Worcester plumbers urged action. The board will press Congress and Governor-elect Walsh and seek official decisions on legal questions about strike era acts.
Delegates critique Massachusetts workers compensation, arguing it lags behind British and international laws. Donoghue cites losses of 1.47 million dollars and urges restoring employer liability or adopting higher benefits. A new five member labor committee is proposed, and educators monitor non union labor at evening centers.
Union labor officials protested that several large Curley mayoral signs lacked the genuine Painters' Union label. Business Agent John F Welch investigated for the Sign Writers' Union and found the work contract required the union label, according to reports.
The Boston building trades department of the A F of L adopted resolutions after the Arcadia Hotel fire noting no criminality found and urging laws requiring automatic sprinkler systems fire escapes on all sides and outward opening doors for safe egress.
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