Market Highlights from Yesterday's Trading
Summary of New York and Boston activity with shares traded totals and notable movers. Sears Roebuck led gains in New York while American Express fell. Boston saw gains by Boston Elevated and losses by American Sugar. Calf money and Time money figures shown for both markets.
MENTIONED IN THIS ARTICLE
Western Union
Canadian Pacific
Boston
New York
Reading
United Shoe Machinery
Sears-Roebuck
American Express
American Sugar
New York Stock Market Opens Quietly Amid Morgan Withdrawal Notes
The first trading day of the year showed little surface activity with a late selling wave erasing early gains. Morgan & Co retired from multiple boards, sparking speculation but no market impact, while European markets were weaker and US bonds moved in sympathy with modest turnover totaling $2,175,000.
MENTIONED IN THIS ARTICLE
New York
Stock Exchange
Banking House of Morgan & Co
Europe
Paris
Bank of France
Bank of England
United States
Panama
Local Boston Stocks End Mixed Amid Uncertain Trade
The Boston market shows narrow interest with American Telephone sliding from 119 1 8 to 117 1 4 and closing at 118. Boston Elevated rises about 2 1 2 points on moderate volume as short covering appears. Shoe Machinery shares trade heavily, closing around 53 6 1 4, while United Shoe awaits government action on a lawsuit. Copper stocks remain subdued with North Butte Amalgamated Granby and Lake Copper showing limited activity.
MENTIONED IN THIS ARTICLE
Boston
New York
Telephone
American Telephone
United Shoe
North Butte
Granby and Lake Copper Register
Boston & Maine
Osceola
Allauez
Arizona
Gulf
Boston & Albany
Boston & Lowell
Poston & Maine
Cal & Arizona
Isd
CP & Ltpf
Edison Elec A Sakt
Indiana
Island Creek
Isle Royale
Kerr Lake
la Salle
Maine Central
McElwain
Ray Consol
Reece
Hole
St Mary's Fsaee Oo
Santa Fe
Shannon Eee
Superior
Su & Bos
Ov 11-16 & Co
Swift
Tamarack
Torrington Ae
BSO Trinity Sete
Bai United Fruit
S. Steel
Utah Consol
Utah Cop Co
Il West
Nee
Winona Seee ' O
Wolverine Eeesee Ar
Swift & Co Annual Report Highlights Strong 1913 Results
Swift & Co reports for the year ended Sept 30 show earnings of 12.4 percent on 75 million capital stock and a 35 million surplus boosting book value to 144 a share. Gross business tops 400 million for the year, up 30 percent from 1912 and 60 percent in four years, while net profits to stockholders run 2.3 percent.
MENTIONED IN THIS ARTICLE
Swift & Co
Boston to Have a Reserve Bank in the near future
Street chatter credits the Boston clearing house action with a likely establishment of a regional bank in Boston. Bankers say Boston’s large banking business supports a third or fourth largest regional bank, with eight regional banks nationally now mandated by Congress. The note plan for Boston & Maine debt and Hampden notes dominates finance talks, while gold production in 1918 fell for the first time since 1899 and gold supply gains slowed since 1907, potentially calming stock markets. North Butte Mining Company reportedly increased its capital by 20 000 shares to 430 000, disclosed via Boston Stock Exchange sheets.
MENTIONED IN THIS ARTICLE
Clearing House
Boston
New York
Boston & Maine
Hampden Railroad
New Haven
United States
Mint
North Butte Mining Company
Boston Stock Exchange
Trade Review Signals Slower Activity Across Industries
R G Dun & Co reports restricted iron and steel output during the holidays with blast furnaces temporarily shut, steel operations down, and new orders at about 50 percent capacity. Cotton goods steady, woolen mills idle, department store receivership disturbs retail. Optimism remains among large merchants as dullness persists in staples and apparel. Failures rise in the United States to 381 with 34 in Canada.
MENTIONED IN THIS ARTICLE
New York
R. G. Dun & Co
United States
Canada
Money Markets Steady Exchange Rates Reported
The foreign exchange market remained steady with bankers trading in the afternoon. Sterling values and other currencies show small adjustments with cables at 4.8015 dollars and 4.8500 dollars, sixty day bills around 4.805, and francs around 5.20 percent.
American Trust Company stockholders vote onFederal Reserve Act subscription
At the annual meeting on January 14 stockholders will authorize directors to apply under the Federal Reserve Act for the right to subscribe to stock of a Federal Reserve Bank for the Boston district. Hollinger Gold Mines reports four week profits 3118 091 with costs 2.85 per ton and 96.16 percent ore extraction from $15.17 ore. Goldfield Consolidated mined 8 947 tons in November with net earnings 170 779 and net cost per ton 5.88.
MENTIONED IN THIS ARTICLE
Gen Motor Jevesot
Goodrich
Smell & R
Ag Int Harvester
Tel & Tel
Pt U
Lehigh Valley
Liggett&Mey Cpé
Ohio
Mackay
Met Marine Pf
Beth Steel
Met Pet Co Lt
Bkiyn RT
Sig
Met Pet Co Ltd
Nevada
Nh&h
Nor Pac
Col South
Nor Southern
Nor & Wes
Deere & Col
American Trust Company
Federal Reserve Act
Federal Reserve Bank
Federal Reserve District
Boston
Mass
Hollinger Gold Mines
Goldfield Consolidated
Belmost to Sell $60,000 4 Per Cent Bonds
Belmost Massachusetts will accept bids until 10 a m January 7 for 60000 four percent bonds dated December 1 1913 and due 3000 in 1914 through 1933 inclusive.
MENTIONED IN THIS ARTICLE
Belmost
Mass
Morgan Firm to Retire Directors in Major Shakeup
J P Morgan & Co withdraws five directors from 27 corporations and plans further resignations. Interlocking boards and broker chatter reveal no advance notice to markets as Morgan announces the departure from directorships.
MENTIONED IN THIS ARTICLE
Morgan Firm
Morgan Firm Plans Withdrawal From Many Boards
J P Morgan & Co announces resignations from numerous corporate boards citing time burden and shift in public sentiment. Other Morgan directors also step back from companies while remaining insiders in key firms. analysts see trend toward ending interlocking directorates in finance.
Wilson Hears Morgan News Before Busy Session
President Wilson, after a morning golf game in Gulfport, reads the AP dispatch on J. P. Morgan & Co. withdrawing from directorates. He notes interlocking directorates may be addressed by Congress with separate legislation coming in the session. The paper then lists numerous church services and sermon topics across Boston.
MENTIONED IN THIS ARTICLE
Gulfport
Miss
Wilson
Associated Press
J. P. Morgan & Co
Morgan
Congress
Washington
House
The New Religion and Spiritualist Talks in Boston Notes
A page listing religious and spiritualist events in Boston including lectures by Mr. Hay and I. F. Hoskins, concerts and services at King’s Chapel, and a wide range of Society meetings across multiple halls with dates around January 4. Notable names include Horace B. Blackmer, Rev. Howard N. Brown, Rev. Sydney B. Snow, Dr. Slattery, and Adele C. Williams.
MENTIONED IN THIS ARTICLE
First Baptist Church
Commonwealth Age
Cor
Clarendon St
Austen Kennedy de Blois
Commonwealth Ave
Shelley
Martin
Humperdinck
du Bois
Verdi
Warren Avenue Baptist Church
West Canton Street
Tabernacle Baptist Church
Herbert S. Johnson
D. D
Frederick E. Heath
Heath
Dr. Johnson
Curley
Robert Lister
Isabel Melville
Pilgrim
Guy Mitchell
Ruggles Street Baptist Church
Llewellyn L. Henson
Brooklyn
N. Y
Bible School
W. Thomas Bone
A. A. Rideout
Blaney Memorial Church
Tremont ‘Temple Baptist Church
Stringers
Brotherhood and Girls
Cortland Myers
D .D
Lotus
Mme
Wilhelmina
Wright Calvert
Temple Chorus
A. J. Pairbanks
Immanuel Baptist Church
Adams Street
Field’s Corner
J. Cromwell Hughes
Merle Stetzer
Conservatory of Music
Immanuel
Clarendon Street Baptist Church
Clarendon and
Montgomery Streets
James A. Francis
N. C. Barnes
Dudley Street Baptist Church
Fulton
Union Square Baptist Church
Walnut Street
Somerville
Francis W. O’brien
Centre Street Baptist Church
Mozart and
Centre Streets
Jamaica Plain
C. W. Hidden
Old South Church
George A. Gordon
Willis H. Butler
Gordon
Hope Chapel
Shawn At
Church
Pleasant Streets
G. Charles Gray
North Congregational Church
Massachusetts Avenue
Roseland
Cambridge
Vincent Ravi
Mary Harger
Adelphi
Union Congregational Church
Columbus Ave
West Newton St
Sidney T. Cooke
NEW Church
Church OF the New
King's Chapel
Tremont
School Streets
Howard N. Brown
Sydney B. Snow
Mr. Brown
Mr. Snow
Lowell
Common Cause Society
Faneuil Hall
Sp. m
Charles A. Zeukert
New York
B. Gertrude Halls
Huntington Chambers
NEW Thought Forum
Gal- Church
Newbury
Exeter
Clyde Broomell
People’s Temple
Columbus Avenue
Berkeley Street
Slattery
THE
NEW Thought Church (Inc
Richards Hall
Emma C. Poore
First New Thought Society OF Boston
Chauncy Hell
Boylston Street
C. E. Norris
Odd Ladies’ Hall
Tremont Street
Fred Gowing
Adele C. Williams
UNTTY
Huntington Avenue
Gainsboro Street
Frederick A. Wiggin
Co-Operative Spiritual Society
Belle Jennings
W. L. Clough
Castle Hall
Nuss
Arena Band
Boston Opera Company
Spiritual Endeavor Society
Pleasant St
Stanwood Hall
Malden
Elirele
Nellie Abbott
Lawrence
A. E. Wilson
Allerton Hall
Washington St
Hayden
George Parks
Nutter
Cambridge Hall
Massachuset Avenue
George W. Nutter
First Science Bible Spiritual Church. (Inc
Washington Hall
Rebecca G. Treadwell
Harvey Redding
Hall
Huntinton Chambers
American Psychical Research Society, Inc
Harmony Hall
N. P. Smith
Morgan Action on Interlocking Directors Won’t Halt Legislation
Officials viewed J P Morgan & Co action as a positive step but believed Congress would still push to ban interlocking directorates this session. Lawyers noted Morgan gave up directorships in several large banks yet money trust concerns remain unresolved.
MENTIONED IN THIS ARTICLE
United States Steel Corporation
International Harvester Company
International Morcantile Marine Company
J. P. Morgan & Co
Erie and Southern
George F. Baker
Baker
Morgan
Congressional
Pujo Committee
Morgan & Co
Samuel Untermyer
Pujo
Untermyer
Morgan Partners
Morgan Institutions
First Securities Company
First National Bank
Chase National Bank
New York
Frank A. Vanderlip
National City Bank
Wall Street
Guaranty Trust Company
Mr. Baker
Messrs. Porter
Davison
Washington
Jan
Congress
Money Trust
House Committee
Morgan Cutbacks and Interlocking Directors Debate
Officials note most connections severed were with railroads and expect big New York banks to stay intact for now. Representative Lindbergh says Morgan & Co actions may not alter pending legislation as big business aims to address public demands. Bradstreet's Review reports irregular holiday trade, jewelry strength, weaker apparel sales, railroad return to steel rail market, lower pig iron prices, and many industry shutdowns.
MENTIONED IN THIS ARTICLE
New York
Lindbergh
Minnesota
Morgan & Co
Bradstreet
New England Mills Steady to Slow as Holiday Trade Surges
Fall River mills remain busy on older orders while Southern coarse goods endure keen competition. New Bedford plants run at about 80 percent capacity as bank clearings fall 7.1 percent from last year and exports show mixed totals for wheat, flour, and corn amid overall dull Canadian trade. Holiday buying exceeded expectations.
MENTIONED IN THIS ARTICLE
Fall River
New Bedford
New York
Copper market eases as demand stays quiet
Copper markets show electrolytic copper at just under 15 cents a pound delivered in 30 days. Dealers cut prices to about 14.34 cents but hold little stock for large concessions as demand remains slow.
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Kidder, Peabody & Co
Devonshire St
Baring Brothers
London
New York Market
Boston Post
Boston Herald
Boston Globe
Boston Transcript
Boston Journal
Rock Island
Rumely Co Pt
Seaboard Air L
Pacific
Texas Co -13
Union Pacific
Utah
Westinghouse
Woolworth Eee
Boston Stocks
State Street
Maine
Bay State Gas
Butte & Lon
Caribou
Calaveras
Feeewnes
Pon Davis Daly Tees
Majestic Stere
Setae Tee
Uy Smokey Dev
Utah Metal
Braden
Ite Ton & Montot
Ffield Consol
R Lake
Dun
Money Markets
Tae
Grain Markets
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Owen High
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Eee
Prey
Csses Couses
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H1ny Pty
Kansas City
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Prey Close
Oet
Finance
Mr. Morgan
More
J. P. Morgan
New York Central & Hudson River Railroad Company
West Shore Railroad Company
Lake Shore & Michigan Southern Railway
Michigan Central Railroad Company
Chicago & St. Louis
Cleveland, Cincinnati, Chicago & St. Louis
New Haven & Hartford
Central New England Railway
New York, Westchester & Boston
Harlem River & Port Chester
Milbrook Company
New England Navigation Company
New England Steamship Company
Rhode Island Company
Rutland Railway Company
Hartford & Western
New York, Ontario & Western Railway
Western Union Telegraph Company
Charles Steele
Jersey Central Railroad Company
H. P. Davison
American Telephone & Telegraph Company
Astor Trust Company
Guaranty Trust Company of
Chemical National Bank
W. P.porter
Bankers Trust Company
Northern Pacific Railway
International Mercantile Marine Company
National City Bank of New York
National Bank of Commerce of New York
Mr. Steele
Atchison, Lehigh Valley
Northern Pacific
Fire, Southern
Indianapolis & Louisville
Chicago Great Western & Alabama
Great Southern Railroads
General Electric Company
Pere Marquette Railroad
Jemington Typewriter Company
H. W. Johns Manville Company
Fidelity & Casualty Company
Cruikshank Company
Associated Land Company
Mr. Lamont
International Tarvester Company
International Agricultural Corporation
First National Bank of New York
Kuhn, Loeb & Co
James Speyer & Co
Washington Administration
Sign of the Times
Times
American Telephone & Telegraph Co
J. P. Morgan, Sr
Adventist
Advent Christian Church
Warren Street
Roxbury
O. Farnham
Christadelphians
Franklin Union
Christian Scientist
First Church OF Christ, Scientist
Mother Church
Falmouth
Norway
St. Paul Streets
Episcopal
ST. Paul’s Cathedral
William Lawrence
A. B. Parson
William S. Packer
Church OF the Advent
Mt. Vernon
Brimmer
William Harman van Allen
T. D
D. OG. L
Jesus
Emmanuel Church
Newbury Street
Flwood Worcester
Samuel McComb
Ralph Bray
ST. Ann’s
Hast Cottage
Dudley Street
George EB. Jenner
ST. Stephen'shurch
Florence Street
Lutheran
ST. Mark's English Lutheran Church
Winthrop Street
Edwin Lynn Miller
J. Barbara Werner
Methodist Episcopal
Berkeley St
A. H. Nazarian
First Methodist Episcopal Church
Temple Street
State House
Frank W. Collier
Harry F. Ward
Alton Packard
Salvation Army
Salvation *Army
Salvation Meeting
Battle For Souls
Adjutant Hartman
Syracuse
Hartman
Hale
Antrim
Donald and
Campbell
God
Mr. Hay
Horace B. Blackmer
Rogers
Marston
Hay
Unitarian
People's Forum
Charles Fleischer
Christian Mission To
Lincoln Hall
Concord St
Henry Greeley
Morrison I
Franklin
Boston Socialist Forum
Hal
Sol Freidman
CN. Y
Catharine Thompson
Lord
Lynn Association OF Spiritualists
Cadet Hall
Market Street
Mae Pepper Vanderbilt
Lyceum
Seollay Square
Lynn
Metal Markets
the Post