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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, 1918
Page
18
The Champion No. 1 shaft now has new collars hoist frame and hoist. Two air compressors are set, and the drill sharpening machine operates well with ample air. Ore is being stoped at the first level and a shipment is being sucked up.
General Motors gains 15 points and General Electric climbs 9.3 points while Steel rises 4.5. Rails, industrials, and copper shares show buoyant activity amid broad market strength.
Yesterday's totals show New York sales of 955 200 shares and Boston 18 355 shares with steel leading in New York at 215 200 and East Boston Land in Boston at 1950. Year to date New York 13 788 500 shares and Boston 316 824, compared with last year's 16 429 124 and 1 132 625. Notable movers include General Motors up to 137 1 2 from 13, D L W down to 177 1 2, Calumet & Hecla up to 450, and Torrington down to 45 in Boston.
Well defined causes drove a strong market with mid day surge led by rails and industrials. United States Steel and General Motors posted sharp gains while bonds rose, and total volume reached 965000 shares with notable upturn in old United States issues.
New York stocks close with updated quotations for January 31 showing high and low values, net changes from the previous close, and overall market movement for the day.
Boston market opened strong with Boston Elevated up 3 to 48 and Massachusetts Electric at 14. American Telephone jumps 38 points signaling unusual strength. United Fruit climbs to 125 and General Electric gains 9 as peace expectations include copper gains and steady cotton demand remains uncertain.
The market rose into a virtual boom driven by peace talk and short-covering after the Steel company declared a full extra dividend. Traders eyed President Wilson’s Urbana farmers convention remark and reports from Germany and Austria as signals of near-term peace while substantial gains in General Motors and other industrials offset weakness in Liberty bonds.
Current prices show all major rates at 6 percent including brokers loans and commercial paper. Bar silver prices in New York and London are noted, with exchange rates for sterling, francs, guilders, lire, roubles and Swiss francs reflecting a firm market with lire easing. Sub Treasuries show modest gains and New York banks report a loss on operations and a Friday decline.
The Commonwealth seeks proposals for tax exempt serial bonds totaling 1 945 000 to be opened February 11 1918 at noon. Bids must specify basis and rate for each lot with interest 4 14 434 or 5 percent payable semiannually in gold or equivalent. A 2 percent certified check is required.
Parisian soprano Genevieve Vix recounts the incident that stirred France. Ex premier Joseph Caillaux, jailed on treason charges, was allegedly struck by a wounded soldier who cried betrayal as Caillaux tried to strike back with his cane.
A farewell reception honored Captain William Boyd a director of the American British Federation at the federation’s annual convention in the Hotel Bellevue. He will join the Canadian forces in Montreal on Monday after a noted career with British Naval and Military Veterans' Association.
Federal arbiter Charles W. Ellis reported in Fall River that a 12 1-2 percent wage rise is fair for about 5,000 textile workers, affecting more than 40,000 dollars per week in net increase. The decision settles a three month wage controversy between workers and manufacturers.
Harris Forbes & Co presents two bond lists in a circular. They advise long term bonds for war end believers and short term notes for those foreseeing a distant war. A final page chart shows bond price trends from 1900 to 1917.
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