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This newspaper page contains 13 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 01, 1916
Page
14
Boston shows bond price movements with high and low bids and a comparison to the previous close, reflecting the day's market actions on the Boston Stock Exchange.
Imports at New York totaled 23,260,644 dollars for the week ending January 23, 1916, compared with 26,873,244, 14,614,295 and 1,004,501 dollars for the three prior weeks respectively.
Sharp breaks on heavy selling push markets lower with Steel leading declines. General Motors shares drop about 20 points as investors seek safer assets in a tense session. A Crucible feature highlights market strength amid volatility, while a local list declines in sympathy.
Total sales in New York reached 948 436 shares and Boston 40 564. Crucible Steel jumped from 31 2 to 74 in New York while General Motors fell from 1934 to 450 1 4. Calumet & Hecla rose from 3 to 555 in Boston and Old Dominion dropped from 3 to 62 3 4.
Prices sank as liquidation and short selling intensified after weekend news and President Wilson's addresses. United States Steel led the bearish moves, tumbling to a yearly low while Bethlehem and other majors fell. Traders noted varied activity with 960000 shares traded and a late rally in specialties.
A dense OCR style summary lists various bond prices and yields across multiple issues including New York United States Treasuries, municipal issues, railroad and utility bonds. The column notes price levels for Imperial, Penn Central, and Westinghouse issues, plus totals and weekly and yearly comparison figures.
The Boston market shows broad weakness with many stocks down, notably Old Dominion and Quincy. New Haven faces heavy selling on rumors of a preferred issue, while Boston Elevated maintains a $1.50 quarterly dividend and St. Marys Mineral Land pays $1 per share as Copper Range and Champion Copper boost profits from joint ownership. North Butte reports weak last quarter earnings around $3 a share.
The article details current money market quotations including call loans at 3 percent and commercial loans from 34% to 6 percent. It lists year money at 4 4 percent, bar silver prices, bar gold, and Mexican dollar figures. Clearing house exchange totals for New York Boston Chicago are given with January balances and sub treasury credits. Foreign exchange rates show sterling cables at 4.76 percent, francs at 5.85, marks at 74 144, guilders at 43, lire at 6.72.
Estimated gross earnings of Atlanta Birmingham and Atlantic railroad for the week ended Jan 14 were 59882, up 7865 or 15.12 percent from last year. Two weeks in January total 108861, up 14700 or 15.94 percent over 1915. Mohawk January production ran at 60 percent of normal.
The Boston office continues under the Harris Forbes name with Isaac Sprague as chairman of the board. John R. Macomber remains president alongside Albert H. Beck Irving F. Marshall and others in active management. Allen B. Forbes has long led national operations, while several executives join the leadership group under the new firm title.
Rising revenues bolster Western Pacific Railway reorganization as deposits push Equitable Trust Company bonds above three quarters of the $50 million outstanding. Only one bond, $500, withdrawn under the agreement. further expected movements noted in the plan.
The summary notes that deposits of bonds held abroad will boost total funds soon. In the year ending Nov 30, receivers reported earnings of 383756 above annual interest on new bonds to be issued. It notes no deduction for benefits from 16 million dollars in new capital for the new company.
A well secured utility bond offers 6 percent yield with guaranteed principal interest and sinking fund. The issuer has gross earnings over $900000 and net earnings more than double. Securities include property coverage and a strong public utility company backing. Stocks valued about $12000000. Circular No. 232 available.
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