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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 03, 1916
Page
13
Financial figures show yearly changes with totals and subitems across multiple categories. The data includes gains and totals such as 606,243 and 434,864 along with other figures like 928 and 524, indicating a period comparison and overall increase.
Market activity shows New York totals of 644,994 shares and Boston 37,724 shares with the Steel issue at 85,900 and Granby at 2,976. Year to date through Jan 1 1916 lists New York 17,380,470 shares and Boston 1,187,121, compared with last year’s 5,535,400 and 517,256 respectively. Notable gains include Willys-Overland in New York up to 218 from 205 and Calumet & Hecla in Boston rising to 560, while Detroit United falls to 76 and American Woolen etrs. slides to 50.
New York trading closed with a broad advance led by Crucible Steel and Baldwin Locomotive after late gains in United States Steel and Studebaker. Oils and motors climbed. United States bonds steady as total stock sales reached 660,000 shares and par value bonds traded around 3.73 million.
Prices from the New York Stock Exchange show high and low figures and last sale for listed issues, with comparisons to the previous closing. Details include varied gains and losses across leading stocks as traders react to market conditions.
The Boston market shows a broad bull run with copper shares leading gains. Allouez jumps 5 1/2 points to 73, a peak since 1907, while Granby hits a new multi year high and Mohawk Old Dominion Osceola Tamarack and Wolverine rise. Nipe Bay advances 5 points to 119 amid optimistic earnings outlooks. Zinc stocks stay firm though less buoyant.
Boston stock market report lists high and low prices and fast trades on the Boston Stock Exchange with comparisons to the previous close. Bond section begins the summary of securities traded locally.
An irregular tone pervades the curb list with American Oil Bay State Gas Boston Fly and others advancing a few cents while Crown Reserve Mexican metals and Success Mining fall several cents. Seneca Mining shows strength gaining seven points though not active and Submarine Signal slips to 31 on ten shares traded. Detailed fluctuations follow.
Trading was uneven with a firm tone in oe market and a spread of issues including Repeats 5a Ran i Fad refunding 4s Inspiration Copper 6s Lackawanna Steel 5s 1950 Mercantile Marine 44s and New York Central debenture 6a. Government bonds closed with varied results while stock exchange bond transactions showed mixed activity and broad price quotations across serial issues from utilities to railroads. Total sales reached about $4.0 million, below the prior week and well under January standards.
Current quotations show brokers call loans at 3 percent and outside call loans at 3 percent. Commercial loans range from 3 4 to 6 percent, while individual collateral loans run 4 to 6 percent. Foreign exchange opens slightly easier with sterling around $4.76 per gavel? and francs at 5.89, marks 73 1/2, lire 6.72.
Stockholders vote today on selling the Butte Alex Scott Company property to Anaconda Copper Company for 750000 dollars. Hayden Stone & Co. gains control of Nassau Light and Power from prominent financiers including E. D. Morgan and Harry Payne Whitney. Charles Hayden elected president of Nassau Light and Power.
A New York Boston banking insider says war stocks show strong 1916 earnings with American Locomotive at 70 per share, American Can 40, and Crucible Steel 60. Copper profits rise as copper price remains low and producers lock in future sales. Allis Chalmers quarters show rising profits, while Superior Copper mines face dis favoring results and possible layoffs.
National City Bank offers 5 million crowns Norway 6 per cent gold bonds due 1923 at about 6.75 per cent net. Bonds payable in gold and tax-exempt. Holyoke MA awards 200 thousand dollar issue to H. C. Grafton Jr. at 2.50 per cent discount. Consolidated Gas Co. of Pittsburgh defaults interest on 5 million dollars 5 per cent first mortgage bonds. Protective committee formed for bondholders. Canadian Northern Railway sells 2.5 million dollars of one-year 5 per cent notes secured by debenture stock guaranteed by Saskatchewan and British Columbia. issued privately to a few institutions.
The Home Insurance Company of New York reports total assets near 38 million dollars with policyholder protection funds close to 20 million. It lists capital of 6 million and a 2 million special fund for conflagration losses, and states it writes fire, auto, marine, parcel post, rents and wind storm insurance through agents Gilmour Rothery & Co. in Boston and F. A. I Wetherbee in Massachusetts.
New York reports J. P. Morgan departed aboard the Rotterdam to visit London for at least a month. He is accompanied by Benjamin Strong governor of the New York Federal Reserve Bank. The trip's purpose centers on business matters with Allied external loan speculation denied.
The cotton market opens steady with bids for Oct-Nov at 7.14 to 7.17 and Mar-Apr around 7.30 to 7.66. Sales reach 5,000 bales as American and futures show a steady start and the market closes near steady.
An error in last Sunday's Post misnamed the firm. The article should have identified the Chalmers Motor Company as issuing new preferred stock rather than the Chandler Motor Company.
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