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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 17, 1912
Page
14
An editor notes a proposed 1 percent dividend on the second preferred stock of the American Pneumatic Service Company for Feb 15, with a board decision due Jan 25. The article reviews long-term capitalization, prior management upheavals, and the burden of over capitalization while signaling cautious prospects for renewal of earnings-backed payouts.
Market summary shows total sales in New York 394 900 shares and Boston 40 976. Reading leads in New York with 130 300 shares while Trinity Copper is most active in Boston with 4470 shares. Year to date totals reach 5 266 800 shares in New York and 652 104 in Boston, compared with last year’s 5 520 900 and 243 209 shares. Major changes include Central of New Jersey up 15 percent in New York, Am Snuff preferred down to 102 percent, Rutland preferred up to 50 in Boston, and Eastern S. S. down to 107. Call money steady 34 percent in New York and 3 to 3 percent in Boston. Time money moves 2 to 4 4 percent in New York and 3 to 4 14 percent in Boston.
Trading remains steady with prices holding within narrow limits as Read ing and Lehigh Valley drive much of the day’s business. Jersey Central’s rise hints at favorable stockholder developments, while Lehigh Valley faces uncertain dividend terms ahead of ex‑dividend dates. Brooklyn Rapid Transit and other rails gain renewed strength as a seven day average sits near 115–116.
The Keweenaw Copper Company plans selling timber holdings in the Lake district to raise development funds. The Railroad Commission approves 2395 shares of 4 percent cumulative preferred stock by Boston Railroad Holding at 110 each to finance 2273 Boston & Maine common shares already owned. New directors named for Interboro Metropolitan Company: Robert I. Jenks, Charles B. Ludlow, and D. J. Pepperman fill vacancies. R. R. Gavin, S. R. Guggenheim, Edwin Hawley and F. D. Sullivan are reelected.
The market shows improved tone as copper prices in London rise and foreign copper supply drops 1700 tons to 57283. Traders push most copper issues higher with Lake group leaders Hancock Osceola Centennial Mohawk lifting Mayflower Old Colony New Arcadian. Trinity gains on 1470 shares while Steel and Telephone gain. Telephone closes strong at 1415-8.
The Edison Electric Illuminating Company of Boston declares a quarterly dividend of three percent payable February 1, 1912 to stockholders of record at the close of business January 17, 1912. Thomas K. Cummins, Treasurer, Boston, January 15, 1912.
Yesterday's curb market in Boston showed strong participation from Ohio Copper First National Oneco and several others led by Rhode Island Coal Mazatan Ely Consolidated. Other active names included Porcupine Northern Lion Hill Consolidated Bohemia Boston Ely Putte Central and United Verde Extension with fluctuations reported.
Kolb Bakery Co seeks a $1,000,000 offering with 7 percent terms. Charles C. Harrison Jr & Co of Philadelphia and Harvey Fisk & Sons of New York and Boston organize the financing.
Directors of Mutual National Bank vote no dividend exceeding four percent per year on capital stock until depositors receive interest equal to the excess above four percent. The ruling targets mutual plan depositors with active accounts to boost interest earnings from bank prosperity.
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