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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 16, 1907
Page
10
The speaker notes last week urged against buying above 1.25 and outlines efforts to offer a small block at 1.20 but rising demand pushed prices to 1.75 and higher. He now advises immediate purchase at current market to capitalize on expected rapid advance to 20 per share based on merit and company plans.
The notice states no further relief can be granted and prices will rise with market demand. It warns buyers to act now because available quantities are limited and each passing day will push prices higher.
The market showed another listless day with modest gains erased by late profit taking. Chicago and Northwestern weighed on sentiment after news of a new stock issue while Amalgamated Copper rose on copper market strength. Major moves included Atchison, Reading, St Paul, Southern Pacific, and Union Pacific with mixed closings.
New York and Boston stocks offered for cash or margin purchases. Interest paid on deposits. Despatches from leading financial agencies available to our clients.
Financial observers report groundwork for a copper consolidation involving Tamarack Osceola Isle Royale Quincy Copper Range and possible Arcadian Allouez Atlantic Mayflower Mass Consolidated and others along the Copper Range railroad route. A new holding company to absorb Amalgamated is planned with John D. Ryan named as potential president.
The Exchange place curb market showed steady prices and strong demand. Laramie led with high activity, while Greene Gold-Silver traded near 2, Acme Consolidated moved 45 to 51 cents, and Revenue Leasing rebounded to 9 cents. Official sales detail the curb fluctuations.
The Boston stock and bond market prices for the day are recorded along with total sales. Key figures include lists of prices for major stocks and bonds, with daily totals indicating overall market activity.
Wheat and corn quotations from the Chicago Board of Trade show May and July prices with declines, while oats exhibit varied readings. Innis & Stoppani warn of artificial strength and weak demand, citing transportation limits as the real constraint on grain prices. Also promoted is a rapid Los Angeles Limited service to California with through sleepers to San Francisco and Los Angeles and tours to Portland.
The author lauds Trinity as the strongest copper stock on the Exchange, rising from 303 to 35{ and above 344, while rivals fall. He faulted Wall Street’s “System,” praised Trinity’s square deal, and urged investors to stand with Trinity as it joins Butte and Copper Range. He forecasts further gains to 75 and beyond, urging support against opposition.
John F. Crocker was re elected president of the Boston Chamber of Commerce with 120 votes to 64 for Er Preston. Frank A. Noyes and James J. Storrow were elected first and second vice presidents. Directors for three years named Bancroft Coffin May and Shepard. Resolutions urged a national forest reserve bill and sending American delegates to a Hague peace conference to push general arbitration and arms restriction.
The annual meeting at 11 30 this morning at 77 Summer street will vote on officers. President Amory A. Lawrence retires after five years. Jerome Jones of Jones McDuffee Stratton is named as candidate for president. H W Cumner is nominated for second vice president. Josiah Bacon retires from the directory and Thomas B Fitzpatrick is nominated to fill the vacancy.
John Hector Graham of 98 Waumbeck Street was cleared of larceny charges after a grand jury returned a no bill. He faced accusations he stole 500 from a Brookline physician related to patent rights transfers and questioned the validity of prior assignments.
People from all walks of life in New England contribute to a testimonial fund for Henry Clay Barnabee of the Boston Ideal Opera Company and the Bostonians. Subscribers have donated about $2500 with Frank G. Webster of 115 Devonshire Street serving as treasurer.
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