Apathy in Market With Bears Active
A steady morning to close with a dull market volume as traders await bills and investigations. Reading and allied issues dampened by overall weakness with mixed fractional moves and firming in some copper issues.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Feb 22, 1907
Page
10
A steady morning to close with a dull market volume as traders await bills and investigations. Reading and allied issues dampened by overall weakness with mixed fractional moves and firming in some copper issues.
The February 21 market roundup records ex-dividend status and assessments, noting total sales across listed stocks and bonds. Listed stocks 59,827 shares, unlisted stocks 8,402 shares, bonds $10,000, with all figures indicating the day’s trading activity.
The curb market today saw strong activity with new issues competing against established favorites. Boston Ely opened at 41 1 4, rose to 41 2, and closed at 41 4 while Kruger Copper climbed from 17 8 to 26 5 8. Nevada Utah traded actively at 47 8 to 53 8, Rosario moved heavy 10 850 shares at 79 to 8. Bingham Mary debuted steady around 11 4, Glenevis slid from 137 8 to 111 2 on light volume, closing 23 4 points below Tuesday. The market report lists detailed opening, high, low, and last prices for numerous issues.
Mayor Fitzgerald told the Faneuil Improvement Association in Brighton that Boston’s spring will bring big real estate development. He noted high rents, costly materials, and sustained labor costs, urging Brighton residents to invest to boost housing and growth.
Bar Harbor Maine February 21. Coast fishermen endure severe winter as Captain Lige Green recalls a morning at Otter Creek when two codfish pulled a kerosene heater from his boat, disappearing with the handle and sending a sizzle under the waves while he nearly froze.
Wall Street activity remained thin with a three day holiday ahead and little new commitments. Union Pacific weakness faded, Reading faced note issue rumors, and navy officials debated national defense amid tensions with California and Japan.
Assistant Postmaster Millin reported Boston's second class mail caused a $453,598.04 loss last year, with magazines costing $57.57 per ton more than postage and daily papers at $7.12 per ton. He urged rate reform to fairly charge magazine mail and noted a 22 percent tariff drop for Massachusetts rail passenger fares since 1878. The New England Postmasters Association met at the American House with remarks from Chief Inspector Vickery and others.
Boston copper world sees Calumet and Hecla gain control through Osceola Allouez and Centennial moves. Alexander Agassiz outlines proxy plan for Osceola stockholders to vote March 14 1907 in Boston. Proxies and management targeted to Calumet Hecla figures while Osceola and allied properties expand.
Marsh Thompson known as Old Marsh and a long time State House figure died after illness. A cheerful wit who worked in many roles across the building over more than two decades, he remained a familiar presence in the legislature despite reverses. No immediate relatives survived. his birthday was unofficially March 17.
Judge Hitchcock in the equity session issued a preliminary injunction restraining William H Burlen from disposing of any Bar Harbor and Union River Company stock. Isador L Hallman filed the petition alleging Burlen agreed to secure a board vote for 65000 shares of preferred and 27000 shares of common stock in exchange for his services.
Saturday evening marks the third members night of the season by the Catholic Union of Boston to be held at its rooms on Washington Street near Worcester. Judge M. J. Murray is scheduled to speak.
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