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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 18, 1914
Page
14
Analysis notes New York Central stock at multi-decade lows amid rising capitalization and stagnant earnings. It cites limited new-mortgage capacity, planned rate increases, and consolidation with Lake Shore as potential remedies, warning dividend cuts may follow if profits fail to catch up.
A syndicate buys 300000 shares of Western Union stock at 62 in New York as part of a capital stock expansion by Great Northern increasing capital from 19 million to 250 million. General Motors shows strong activity and Granby declares a regular quarterly dividend of 1.50 per share.
Reports show total sales in New York 236,800 shares and Boston 17,918. Year to date totals since Jan 1 1914 list New York 14,420,100 and Boston 985,276 shares. Notable movers include General Motors gains in New York and Calumet & Hecla losses in Boston. Call and time money rates are noted in both cities.
London prices were lower then firm in New York amid light trading. Investors watched large capital issues as New York Central seeks 70 million in bonds, Great Northern 90 million stock, and Interborough 10 million bonds. Despite some stock pressure, the market held near yesterday's close with confusion over the ICC rate suspension easing.
Local market activity was muted as prices drifted lower. New Haven shares rose briefly to 71 1 2 then fell to 69 3 4 while total New Haven trades reached 217 shares. American Telephone stock faced a large write down after selling its 30 percent interest to Kuhn, Loeb & Co for cash below 62, a loss of about 4.2 million on the investment, though the firm’s long term surplus cushions the impact.
The text surveys bond issues from Edison to Pacific Ocean lines and utilities with varied maturities and yields. It lists specific issues including 4s and 5s from cities and companies, plus a summary of total sales, comparing today’s figure to yesterday and weekly totals, and year-to-date performance.
The Sunday Post promotes new comic features including Gasoline Gas and Dolly Dim Ple with a call to readers not to miss them.
Hampden County Mass awards a temporary loan of 100000 to Estabrook and Co with due date November 6 1914 Curtis and Sanger also bid. Newport R I invites bids to February 26 at 125000 for 4 12 per cent school bonds 1915 39. Bristol County Mass awards a 100000 loan due October 29 1914 to Curtis and Sanger.
Utah Copper reports January production of 10 645 085 pounds up from December and January 1913. Timothy F Allen of Thomas L Manson Co elected to Boston Stock Exchange seat formerly held by U S Manson. El Paso Electric raises common dividend to 9 percent with 2 2 per share quarterly. La Rose January profits fall or rise? record shows net 30 316. Charles P Greenough 24 forms co partnership with Redington Fiske. Jacksonville Traction calls Feb 26 meeting to raise 1 000 000 capital. Great Northern approves 19 000 000 capital increase to 250 000 000.
Bonney and Moor of Worcester announce an offering of 100000 dollars of outstanding 10 year 6 percent Bancroft Realty Company bonds. Secured by Worcester real estate in the business district, with property valuation well in excess of mortgages and 30 year leases to experienced tenants under United Hotels Company. Surplus rental income covers interest. bonds are callable at 105 and accrued interest, offered at 100 and interest.
Edward B. Smith & Co and Brown Bros. & Co offer 4 per cent 40 year gold bonds of the Connecting Railway Company. Unconditionally guaranteed by the Pennsylvania Railroad Company by endorsement. Price 98 percent with interest yielding about 4.11 percent. Penn RR owns all Connecting stock which is leased to pay 4 percent rent and interest. Bonds untaxed by Pennsylvania tax and federal tax. NYSE listing sought.
J P Morgan & Co sold 10 million dollars of Interboro Rapid Transit first and refunding 53 year 5 percent bonds to a syndicate that recently placed 30 million dollars of these bonds with investors. The syndicate is led by Lee Higginson Co N W Harris Co Kissel Kinchutt Co William A Read Co and White Weld Co. It may take 20 million more bonds in the transaction.
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