Copper and rail stocks surge amid market rally and mergers
New York and Boston trading summaries show total 1920 year to date copper and steel activity with Orpheum and Republic hints. The market ends mixed with rails leading gains as Palmer declares rail bill constitutional. copper miners report mixed results and banks plan to double capital stock at First National Bank ahead of March meeting.
MENTIONED IN THIS ARTICLE
New York
Boston
Steel
Orpheum
First National Bank
Kelly-Springfield stock rights and bank capitalization plan
Shareholders are offered rights to subscribe for one new share for each share owned. If approved, first payment due April 15 for shareholders of record April 1. President Wing notes bank capital would reach $15 million with over $21 million in surplus and profits, total $36 million, while the company maintains a 4 percent quarterly dividend. Kelly-Springfield reports 1919 pre tax net income of $8,145,861 or $13.20 per common share, down from 1915 values, with estimated 1919 taxes near $814,275 versus $2,667,492 last year, and gross profit $7,034,284. Surplus for the year after dividends falls to $2,032,022 from $3,292,053 in 1918.
MENTIONED IN THIS ARTICLE
Bears
General Motors
Republic
Lackawanna
Republic Iron & Steel
Utah
Sapanitt
Chino
Nevada
Wing
Kelly-Springfield
Krelly-Springfield
Union Pacific
Union
Western Territory
Irregular Stock Trading Marks New York Market Session
Trading on the New York Stock Exchange showed mixed leadership with early strength, midday weakness, and a late rally. General Motors swung 10 points before ending higher. rails sustained gains as low priced shares accumulated. Bond activity remained active with Liberty and Victory issues trading lower.
MENTIONED IN THIS ARTICLE
New York
Stock Exchange
General Motors
Rock Island
London
U. S
Frozen credits and rail bills shape 1919 finance outlook
Financial editors note frozen credits due to severe winter slow payments and cash being trapped in country districts. They analyze Utah Copper earnings at 6.64 a share in 1919 and project Union Pacific earnings under a railroad bill, outlining net income, freight, other income and fixed charges to estimate possible returns and the political risk of a presidential veto.
Money Market Rates Hover Around 6 to 7 Percent
Outside brokers quick call and customer brokers loans run 6 to 7 per cent. Commercial loans for customers carry up to 7 per cent. Commercial paper lists 6 to 7 per cent. Individual customer collateral yields 6 to 7 per cent. Year money stands at 6 per cent.
Federal tax offices extend hours for holiday workers
To aid thousands of workers on four half-holidays, the federal income tax offices in the Little Building on Boylston Street and Tremont Street will stay open until 5 pm. Soldiers and sailors in active service receive an exemption of up to 2500 of their U S compensation in any tax year, in addition to personal exemptions 100 for single and 2000 for married. The wartime exemption applies only to government compensation and ends with the war, as proclaimed by the President.
MENTIONED IN THIS ARTICLE
Boylston
Tremont
United States
Submarine S-1 Arrives in Provincetown Harbor
Submarine S-1 arrives in Provincetown Harbor after a four hour run from New London where built for the government by Electric Boat Company. It will stay until Monday then proceed to Quincy and later return for official government tests under Captain Glynn.
MENTIONED IN THIS ARTICLE
Provincetown
Provincetown Harbor
New London
Noted Worcester Builder C W Norcross Dies En Route
C W Norcross a prominent Worcester contractor died yesterday while on his way to the office. The well known builder's death ends a long career in local construction and business circles.
MENTIONED IN THIS ARTICLE
Worcester
National Education Association Convention Closes
The National Education Association delegates wrapped up their convention in Cleveland with officers elected for the department of superintendence, selecting Washington as next year's site. Resolutions urged Congress to pass the Smith Towner bill creating a Cabinet secretary of education and authorizing $100 million yearly for schools. The event adjourned as about 5000 delegates headed home.
MENTIONED IN THIS ARTICLE
Cleveland
Department of Superintendence
Washington
Congress
Smith- Towner
National Education Association
American Association For the Correction of Speech
True Democracy Lecture By Bryn Mawr Professor Tonight
Catholic Church notes report that Professor Charles O. Fenwick of Bryn Mawr University will speak on True Democracy at the League of Catholic Women gathering this afternoon. Revered Jesuit Rev. Robert Swickerath will preach at St Mary’s North End tomorrow night with a novena starting Wednesday, delaying a lecture until March 18. The Cathedral mission for women ends tomorrow with papal blessing and the Passionist Fathers will open the men’s mission tomorrow night.
MENTIONED IN THIS ARTICLE
Charles O. Fenwick
Bryn Mawr University
League of Catholic Women
Robert Swickerath
S. J
Old St. Mary's Church
Thacher Street
North End
Henry P. White
Cathedral of the Holy Cross
Stanislaus
Jerome
Augustine
Bonaventure
Norcross Brothers founder Orlando Norcross dies at 82
Orlando Whitney Norcross president of Norcross Bros. Co. Worcester dies in his car on the way to his office. Civil War veteran born October 25 1839 in Clinton Missouri, he built landmarks for Harvard Yale Brown and West Point and shaped Worcester and Boston architecture.
MENTIONED IN THIS ARTICLE
Worcester
Orlando Whitney Norcross
Norcross Bros. Company
United States
Harvard University
Norcross
Perkins Hall
Fogey Art Museu
Conant Hall
Harvard Gymnasium
Suver Hall
Longwood Avenue
Trinity Church
Exchange
Finglish
Boston
Worcester City Hall
State Mutual
Worcester Art Museum
Springfield
Yale
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Columbia
West Point
Mr. Norcross
Clinton
Salem
Mass
Iid
James A. Norcross
Norcross Brothers
Ile
Germany to Change Vienna Embassy to Legation
Washington reports Germany will replace its Vienna embassy with a legation starting March 1 and has informed Austria of the change, state department officials said.
MENTIONED IN THIS ARTICLE
Germany
Vienna
Washington
Austria
State Department
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T. H. Wickwire, Jr
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Thomas I. Coghlan
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University Heights
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State St
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Stock Exchange Bldg
Alquette No
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Midvale Steel
So. R. R. Pfd
Penn. R. R
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A. F. Dow & CO
Kilby St
Ford & Company
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Phonas Haymarket
Inc
NEW Englan Power Company
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R. L. Day & Co
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Board of Gas and Electric Light Commissioners
Board of Directors
WM. W. Brooks
Universal Tide Power CO
Canal Street
Maia
Saugus River
C. W. Souther
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