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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 05, 1907
Page
10
After a week of drift, Wall Street saw substantial advances as investors pooled funds on call stay abundant and rates under 6 percent. Union Pacific led active trading amid an ICC inquiry into Harriman properties, while demand broadened across favored shares and long held leaders.
State Street Jan 4 reports show improved tone, short covering, and heavy buying from commission houses in Union Pacific, Reading, and Amalgamated. Union Pacific rose to 1803 4 after a favorable November report, with broad gains in mining and steel issues. The day closed near highs with a record exchange volume and a strong 25 leading stocks average.
Mayor Charles Neal Barney ordered strict enforcement of Sunday observance laws and other statutes after noting 21 stores open in Central Square last Sunday. He urged police to curb sidewalk spitting, sidewalk vendors, minor presence in pool rooms, and to address overlooked violations at roll call.
The copper boom spreads through markets as consolidations and dividends attract buyers. Swift & Co. elects directors. Old Dominion Copper posts 33.806 million pounds output for 1906 amid fuel shortages. Mexico Consolidated adds cyanide plant equipment boosting future per share value. Central Leather and United States Leather plan a merger with a 40 million dollar preferred and 40 million dollar common stock.
Boston daily market summary records the day’s stock and bond price movements with total sales of 190,251 shares in listed stocks and 31,000 in bonds plus 24,280 shares of unlisted stocks and 4,845 rights.
Thomas W. Lawson, president of Trinity Copper, details a dramatic market rally from 11 to above 40 and warns of possible crashes if unchecked. He urges investors to buy Trinity under 65, cites heavy exchange congestion, and explains his plan to steady prices while promoting honest, value based trading.
The curb market on Cal saw widespread price rises with strong demand from leading houses. Davis Daly jumped to 174 percent, Bay State Gas rose from 53 to 69 cents, Nipissing improved from 18 to 15 percent, while La Salle Greene Gold Silver Superior Pittsburg highlighted the day’s moves.
Chicago grain prices show a general lower trend with May and July contracts for Wheat Corn and Oats reflecting slight declines. Ennis and Stoppani advise taking advantage of reactions observed in today’s market letter.
The Chase & Barstow stock brokerage firm won a Supreme Court ruling against Boston over municipal taxation. Assessors rejected a sworn property list and taxed based on a $300,000 valuation though the list showed $60,500. The decision orders a refund of $3,832 plus interest, and limits arbitrary valuations without a printed information request.
The city’s stages showcase Henry B Irving and Dorothea Baird at the Colonial with Mau ricette and Markheim, plus The Aero Club at Park with Lulu Glaser. Powers and The Blue Moon at Majestic, Lew Dockstader’s minstrel show at Tremont, and Jeanne dArc with Hamlet at Boston Theatre.
About 11 o clock this morning one hundred balloons will rise from the Colonial building on Boylston street. Each balloon bears a card for a reserved seat at Maru Glaser’s Park Theatre performance in The Aero Club. The landing spot depends on gas and air currents. a prize will go to the finder of the balloon reaching the farthest from Boston Common. If weather prevents inflation, the ascent may be postponed to Monday at 4 PM.
Daniel Frohman, president of the Actors Fund of America and longtime manager of major New York theatres, arrives in Boston for a brief visit. He dines with wife Margaret Illington at the Touraine, attends a Hollis Street Theatre show, and later views Pinero’s play at Trollig Street Theatre.
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