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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 14, 1920
Page
19
Richard Jackson formerly with W L Raymond and Co has joined the Boston office of H M Byllesby and Co, marking a notable transfer in the cotton market scene.
Outside brokers call for six percent as the base rate. Individual and collateral loans, customer loans and commercial loans all quoted at six percent. Commercial paper and year money also listed at six percent, reflecting a uniform rate environment.
Two prominent cotton and wool merchants were named to the Boylston National Bank board at this morning's meeting. Guy O. Hunter of New York's Hunter Manufacturing & Commission Co and Kenneth Watchins of Boston's Kenneth Hutchins Co were elected as directors.
An American investor has purchased 26 million dollars of one year and five year 6 percent notes issued by the Kingdom of Belgium. J. P. Morgan & Co and the Guaranty Trust Co announced the sale, with New York and Chicago banks assisting. The notes, due January 1 1925, are exchangeable for Belgian francs on demand, offering potential profit if the Belgian rate strengthens. Restoration of Belgium to prewar financial status is linked to postwar reparations and peace treaty effects. Belgian industry is recovering production.
New York trading was dull and heavy for most of the day as banks prepared for possible government demands. A late covering rally lifted oils and steels, with U S Steel showing strength on solid tonnage. 900,000 shares changed hands as bonds remained heavy.
The advertisement touts HUB WYOMING OIL Co in Denver urging immediate purchase before prices rise. It claims six new producing oil wells and a total of 49 oil wells and 4 gas wells, promising profits and urging readers to buy at 10 cents per share and request free particulars.
W Irving Bullard yesterday became vice-president of Merchants National Bank of the city. He has led the textile department since 1917, now the Industrial Service Department, and serves as director of several cotton mills and treasurer of the National Association of Cotton Manufacturers. He helped form the World Cotton Conference and aided European textile reconstruction after the war.
Mme A reports a trip to Verdun and the Chemin des Dames while Mme B jokes about her husband claiming front-line status. Source: L In transigeant Paris.
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