Market Averages Edge Up Amid Mixed Insider Moves
Market averages rise slightly led by Alaska Gold feature in Boston while Boston and Maine hits a new low. Calumet gains five points as subsidiary Ahmeek declines by five points in today’s trading.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 09, 1915
Page
10
Market averages rise slightly led by Alaska Gold feature in Boston while Boston and Maine hits a new low. Calumet gains five points as subsidiary Ahmeek declines by five points in today’s trading.
Total sales from New York reached 203 100 shares and 23 127 in Boston. Reading led with 2d pid gain in New York while Sears Roebuck dropped to 180. Calumet & Hecla rose to 360 in Boston while Ahmeek Mining fell to 245. Call money peaked at 22 percent in New York and 414 percent in Boston.
Trading in New York stocks showed gains mainly in native issues with profits taking in late hours. Railroads like Great Northern and Pacific held firm while Louisville and Nashville and Baltimore & Ohio declined part of their losses. Reading Union Pacific and Pennsylvania rose on advances. Copper shares gained as domestic prices rose and European demand strengthened. May wheat hit a record high amid strong exports. London exchange eased and money rates fell. Bond market steadier with total sales at 2,567,000 par. US government bonds unchanged on call.
Boston reports show Southern California Edison sold 518000 general mortgage 6 per cent 30 year bonds to N W Harris and E H Rollins Sons dated Nov 1 1908. The issue total is 30000000 with 13360000 remaining. Prices and comparisons to prior close are listed for bonds and stock on the Boston Stock Exchange.
The Boston market shows brisk activity in Alaska Gold on the new bond issue, with heavy rights trading around 20 to 24 cents. Butte & Superior remains active with little price change, while Boston & Maine drops to a new low of 24 3 4 from 28 1 4. Rumors of a large stock assessment in reorganizations cloud outlook. copper stocks like A Tionez show profit margins and a healthy treasury surplus may support dividends once copper steadies.
In todays market continentals were easier and sterling remained near unchanged after noon. Bankers reported quotes with sterling cables at 4.84 dollars on demand and 4.83 11-16. France 5.194 marks 87 guilders 40.
Wheat continued to surge with May wheat at a new high of 1 dollar 41 3 4 cents, and July up to 1 dollar 27 18 cents. Grain expert E R Williams notes the rise in a natural market despite war conditions, while millers split on further gains and a large Alaska Gold bond issue and other corporate moves are outlined.
A compiled listing shows closing data for United States government bonds and global market quotes. The page includes 3a and 4s notes with reg and coup details, price levels around 100, and various corporate and municipal issues with stated yields and maturity years.
Lords adjourned until February 2 after two days of debate on Britain's war progress and sea control. Viscount Haldane and others defended Ireland recruiting, noted Irish regiments at front, and discussed the Irish volunteers and potential alliances while stressing economic factors in wartime manpower decisions.
The debate covers army growth and navy operations with ministers questioned on information. Viscount Haldane defends recruitment pace and opposes compulsory service. England develops a 42 centimetre gun to rival Germany while Ireland is said to share the burden. Kilts prompt lighthearted remarks from Scottish peers as leaders warn of the immense war task and the need to keep sea command.
Worcester Massachusetts sold a temporary loan of 150000 dollars due October 18 1915 to Loring Tolman and Tupper at 65 percent discount. Other bids came from N W Harris Co Morgan Bartlett Blake Bros and Farmers Loan Trust Co of New York. An issue of 40000000 dollars New York Central notes dated October 1 1914 bought by J P Morgan Co has been resold.
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