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This newspaper page contains 14 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 12, 1916
Page
14
Yesterday's totals show New York at 565 342 shares and Boston at 99 145 shares. Bethlehem Steel pref led New York gains while Wells Fargo posted the biggest loss. Calumet & Hecla and St Mary's Mineral Land topped and trailed Boston movers.
Irregular small gains for coppers and zinc led the market as trade narrowed ahead of a holiday. Utah Copper and Butte & Superior posted new highs while American Zinc and National Lead rose. United States Steel lagged, and rails fluctuated with New Haven Reading and Lehigh Valley showing brief spurts. Total volume 565000 shares, bonds mixed.
The Boston market shows Butte & Superior and American Zinc as top movers with large transactions. American Zinc surges early and closes up 5 points while Butte & Superior rises to 88 1 2. Rumors of a merger pace the chatter as other issues drift and United Fruit and Boston & Maine provide additional action.
The New York Stock Exchange notes mixed bond trading with varied last sales and price shows. Traders report fluctuating highs and lows across issues including Gulf, Bat, and Lys bonds amid cautious market sentiment.
On solid turnover the bond market kept prices steady with broad activity in Anglo French 5s Mercantile Life Jersey Central 5s Iowa Central 4s and various railroad issues. Government bonds showed mixed results with sharp moves in select issues including New York Central and Virginian lines, while overall sales reached about $4.1 million and a year ago comparison is cited.
Reports of a potential consolidation between American Zinc, Butte & Superior gain traction amid rising prices for both stocks. Past offers were declined due to perceived exchange inequities and wartime conditions, with new favorable prospects cited from Mascot property and Elm Orlu suit resolution.
The market showed steady rates with call loans at 3 percent for brokers and 3 percent for outside brokers. Commercial loans ranged 1 to 2 percent, collateral loans 4 to 6 percent, and commercial paper 8 to 4 percent. Year money 4 1/4 percent. silver at 58.54 1/8 New York. Mexican dollars at 43 1/2 cents. Sub-Treasury credits noted. New York banks gained on Sub-Treasury operations with a 180,000 net loss since Friday. Foreign exchange steady. afternoon rates between bankers: sterling 4.76 to 4.76 1/2, francs 5.86, marks 15?. lire 6.74 3/4 and other quotes mixed.
New York cotton market opened very steady with 5000 bales sold and American 4000 futures. Prices showed small moves with prior close at 7.41 for Oct-Nov and spot at 8.06, while the market finished the session quiet and uneventful.
A compilation of corporate results and market movements. Lee Rubber & Tire reports for ten months ending Oct 31 with net sales 2.794 million, cost of sales 1.992 million, net income 457,914, surplus 443,475. Willys-Overland sees changes in NYSE listing status for preferred stock certificates. United Cigar Stores stockholders call a March meeting to discuss restoring par value to 100. Davis-Daly reports December quarter profit 3,465 on revenue 73,092 and expenses 69,627. Ore shipments reach 86 cars with ore average 7 percent copper and seven ounces silver per ton. Commonwealth Trust distributes tax law synopsis. Proposing capitalization of 60 million dollars for Remington Arms Union Metallic Cartidge Company. Atlas Powder 1915 shows surplus 1,447,344 up from 392,058 in 1914. Hercules Powder 1915 earns net 4,922,402. surplus for common dividends 4,517,794 equals 63.18 percent of 7,150,000 common stock.
Chairman Insull reported at Peoples Gas Light and Coke Company annual meeting that three remaining quarterly dividends for the year would be 6 percent annually, or one and a half percent per quarter, aligning with last year’s payout of 14.32 percent on 6.5 million common stock.
The Colored people of Boston plan a Lincoln birthday observance at Twelfth Baptist Church tomorrow at 2 30 p m under the Equal Rights League. Harvard professor Albert Bushnell Hart will speak on Lincoln, J A Crawford on Douglass, with W D Weems reading Gettysburg address. Admission is free.
Notice issued last night announces modification of the freight embargo on the New Haven road removing restrictions on all freight classes originating west of the Hudson River.
The embargo remains on all rail shipments from points west of the Hudson River except livestock perishable foodstuffs for humans and animals coal coke newsprint paper and petroleum products in tank cars to points beyond the New Haven and Central New England railroads, except via Beacon N Y where accumulation exists.
The Boston Mutual Life Insurance Company reports a strong year with over 20 million dollars of in force policies all in Massachusetts. It has paid policyholders 3.216 million so far, operates in Massachusetts and plans expansion, led by Robert King, with President Herbert C. Edgerton and Secretary Treasurer HB Mansfield.
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