Year end markets show slight gains across dealings
New York leads with modest gains as overall market activity remains light. Alaska gold shows strongest showing in Boston, while United Fruit sustains local feature status amid cautious trading.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 01, 1915
Page
17
New York leads with modest gains as overall market activity remains light. Alaska gold shows strongest showing in Boston, while United Fruit sustains local feature status amid cautious trading.
Daily sales totals show New York 73500 shares and Boston 10626 shares with Reading and Alaska Gold the most active issues in their cities. Year to date totals: New York 48488300 shares and Boston 3508076 shares, compared with last year. Major gains include Standard Milling in New York and United Fruit in Boston. notable losses Missouri Pacific and Boston and Maine. Call money in New York 3 percent and Boston 4 to 5 percent. Time money in New York 4 to 4.5 percent and Boston 4.14 to 5 percent.
New York reports the dullest year on the stock exchange since 1878 with about 48 million shares traded and bond transactions near 462 million. The market closes with a firm undertone in leaders, weakness in Gould group, and Claflin Dry Goods seen in United Dry Goods preferred sales. Call money exceeds requirements and foreign markets show renewed confidence.
In Boston on December 21 the market was active and prices firm. United Fruit rose to 1201 2, Alaska Gold and Butte & Superior advanced slightly. Fitchburg railroad six month notes bids failed to meet expectations. Quincy Mining produced 15 million pounds of copper in 1914 with high production costs and a small half year deficit. A 40 ton copper scrap shipment to England signals potential export demand.
Boston market closes with high and low prices for the days trading on December 31. The report lists the last prices and compares them to the previous close across listed securities.
The year 1914 closed with hopes for improvement in 1915 as war disruption tightened prices and activity. Bank clearings fell in the second half, copper and mine production plummeted, and stock sales on the NYSE shrank sharply. Bank dividends and railroad earnings faced mixed results while market averages hit multi‑year lows before small recoveries.
The article argues 1915 will bring improved prosperity due to U S neutral position, higher demand from Europe, renewed stock and money conditions, cheaper cotton, and favorable railroad policy. It notes textile struggles but expects improvements as cotton prices stay cheap and export orders rise.
H Co Wiley of Richardson Hill and Co joins the Chicago Board of Trade replacing J B Thompson. New York sees minimum prices for General Chemical and Wells Fargo set at 160 and 75. The Fureka Pipe Line declares a dividend of 2 cents versus 36 cents three months ago and 8 for six months. Everett Morss, Simplex Wire director, is named a director of Boston Belting Co. November gross of Portland Railway Light and Power noted.
The report lists several leadership moves and openings: H. R. Taylor elected director of Delaware, Lackawanna & Western. Augustus J. Boyden joins Weld, Grew & Co. after working there since 1908. Paine, Webber & Co. to open a Chicago bond department branch Jan 15, 1915 led by Sanger B. Steel. L. E. Pierson and Luther Childs named directors of Childs Company. Charles G. Schirmer becomes director and treasurer of Utah Apex Mining. Edward Porter May shifts to special partner at Bright, Sears & Co.. William Ellery Bright and Harold C. Sears hold exchanges. Richard Austin admitted as partner at Parkinson & Burr as William P. Warner departs.
Essex county, Mass. sold 76000 dollars in Rocks Bridge temporary notes dated December 20 1914 and due April 20 1915 to Cape Ann National Bank of Gloucester at a 3.545 percent discount. Other bidders included Gloucester Safe Deposit Trust Co Curtis Sanger American Trust Co and several local lenders. Brown Brothers & Co. are offering a new
The company offers five per cent series V notes totaling 400000 dollars secured by a first lien on 600 new cars costing 500000 dollars. The notes mature in semi annual installments of 20000 dollars from January 1 1915. Early maturities are at par for three periods and later maturities price to yield 5.12 percent.
The Directors of Island Creek Coal Company declare a quarterly dividend of 50 cents per share on the common stock, payable February 1, 1915 to holders of record at the close of business January 25, 1916. W Batchelder, Treasurer.
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