Investment Securities Foreign Exchange Letters of Credit
Correspondents of Barings Brothers and Co Ltd provide services in investment securities and foreign exchange including letters of credit.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 14, 1914
Page
14
Correspondents of Barings Brothers and Co Ltd provide services in investment securities and foreign exchange including letters of credit.
Stockholders receive an outline of the proposed reorganization plan for United States Worsted, including annual report highlights. United States Envelope Common increases dividend from 2 1/2 percent to 3 1/2 percent, with preferred at 3 1/2 percent. Ray Consolidated issues quarterly statement.
Total sales listed for New York 240 200 shares and Boston 21 387 shares with most active issues Steel common in New York at 5800 shares and Butte & Superior in Boston at 3103. Year-to-date totals show New York 13,705,000 and Boston 928,109 shares, vs last year’s 11,268,400 and 888,030. Notable gains and losses include Pro Steel Car and Delaware, Lackawanna & West in New York, and General Motors pref and American Woolen pref in Boston. Call money figures appear for New York and Boston with specified percentages, alongside time money ranges.
The New York market opened firm with limited gains as a few issues edged up while parries like New Haven and Rock Island faced brief pressure. London supplied demand and about 20 000 shares moved in, signaling short interest and a cautious tilt against a bear position. Industrials led with Strength in Steel aiding gains, while railroads lagged awaiting interstate freight decision. Bond tone remained decent with total par value around 2 935.6 million. U S bonds unchanged.
City Improvement Bonds with denominations from $100 to $1000 advertised. Bonds are secured by a specific property with appraised values five to thirty times face value. Bank appraisals required. Free from income tax. Office listed as Rippey & Company, 131 State St., Boston.
Boston February 1 under aggressive leadership of Butte and Superior local market traders reported a lively session with a full point gain to 371 and 4. Keweenaw and Tamarack shares held firm around a penny and 40 dollars, Tamarack advancing over a point as a month long rally continues. United States Envelope Company announced a 1 1/2 percent dividend on common stock and 2 1/2 percent on preferred stock, while posting 1913 net profits of 674,949 versus 272,005 in 1912. Ray Consolidated showed solid quarterly results with lesser earnings year over year, marking a robust though mixed market tone.
The annual report and reorganization plan for the Unite States Worsted Company of Massachusetts outlines a capital reduction from 7 million to 700 thousand common shares, conversion rights for second preferred stock, and issuance of new common stock with a large treasury portion. Bankers funded by a 1,003,040 loan will be refinanced with sinking fund certificates, and shareholders may subscribe to certificates at 76 cents per dollar, with a 130,000 per year sinking fund for redemption.
General Electric declares 2 percent quarterly dividend payable April 4 to holders of record February 25. Grand Trunk Railway pays regular semiannual 6 percent on first and second preference shares and an annual 2 percent on common. Independent Brewing Company of Pittsburgh issues quarterly 1.25 percent on preferred stock payable February 29 to record February 1. American Fork and Hoe Company declares quarterly 1.25 percent on common stock payable March 1 with books closing March 10. Associated Merchants' Company quarterly 1.54 percent on preferred, plus 0.5 percent extra on 1-2 percent. Cleveland and Sandusky Brew Company offers usual quarterly 1 percent on preferred stock payable March 15 to February 28 records. Delaware & Hoston Brook Railroad declares quarterly 2 percent, payable February 20 to record February 13.
The subscription books for the 7 million Agricultural Chemical Company bonds by Lee, Higginson & Co. have closed and the syndicate dissolved. I H Rollins & Sons report rapid sale of the 10 million Huntington Land and Improvement Company 6 percent collateral trust bonds, with subscriptions amounting to about 75 percent of the issue already received.
The notice outlines dates for return and payment of warrants by stockholders or assignees on or before April 22, 1914. It details instalment payments, forfeiture for nonpayment, transferable receipts, and conditions for exchangeable bonds. Checks must be made in New York funds, payable to Southern Pacific Company, by order of Treasurer A. K. Van Deventer.
A woman described as cloaked in attractive appearance created excitement in a Washington street store by trying to snatch a pocketbook from Josephine Cavag narro of Mechanics Court. The 82 year old Dorothy Chandler of James Street South End claimed the suspect, and the purse theft occurred as Mrs Scho field reported a $2 theft. An officer took the woman to City Hall avenue station. An unrelated trolley accident left an unidentified man dying at City Hospital after being struck by a City Point car near Broadway South Boston. The victim, dressed as a laborer, was pulled under the fender and freed as crowd helped. Motorman Miles Mulhall cleared the scene. Hanover N H Feb 13 Nearly $100 000 for winter sports and outdoor life at Dartmouth from John Johnson of Philadelphia. Undergraduates to camp cook ski and snowshoe. Johnson has given Wart mouth Outing Club a 100 acre farm and cabin sites from Manchester to Mt. Washington. Two cabins built. carnival festivities at Dartmouth spark attention. Johnson, a Dartmouth graduate of 1866, gifts worth about 100 000 continue to boost campus sports and tourism.
Bradstreet's reports no shift in trade and industry activity but sustained optimism. Large markets show confirmed postholiday business, improved outputs in iron, steel, cotton and wool, and spring buying by interior buyers. Bank clearings fall vs last year, wheat and flour exports rise, and Canadian sentiment brightens though business stays quiet.
R G Dun reports January iron and steel tonnage rose after a year of losses signaling a cautious recovery for heavy industry. Prices trend upward with producers reluctant to contract. Copper supplies shrink amid improving market. Dry goods retailers buy actively for near term needs while wool prices stay exceptionally low. Failures rise from 320 to 403 in the States with Canada up from 34 to 38.
Clarence A. Heller filed May 18, 1910 in the Superior Court for annulment of his marriage to a Marshall girl asserting both were minors at marriage in Nashua New Hampshire with parental consent lacking. He says he was 18 and she was 16 and they lived in Malden until April 1, 1913 when he learned the union was illegal and void.
In a brief Philadelphia Market exchange a wife derides her MP husband over forgetting an umbrella. She quips aloud that a man who cannot keep an umbrella safe cannot responsibly manage the nation's affairs. The light moment underscores domestic humor amid political life.
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