Boston Elevated Railways Dividend Cut Signals Regulation Debate
The Boston Elevated Railway Company reduced its dividend from 6 to 4 percent after years of slim surpluses and rising wages. The move highlights whether a public service firm can earn a fair return on invested capital amid regulatory questions about public utility earnings.
MENTIONED IN THIS ARTICLE
Boston Elevated Railway Company
Boston Elevated
The
Company, Inc
Boston
OCE
Capital Charges Drive Financial Troubles for Transit firm
The piece argues capital costs, not labor, crush the transit company. Excessive expansion for public demand on subways and elevated lines has pushed capital liabilities beyond revenue gains. A Board of Arbitration and a 1918 tax load cited, with annual taxes nearly equal to dividends, threatening future capital and service.
MENTIONED IN THIS ARTICLE
the Post
Boston Elevated
Brooklyn Rapid Transit
Board of Arbitration
Operating Expenses and Earnings Growth in 1902 to 1913
A compact table compares earnings and capital for 1902 and 1913. It shows gross earnings rising about 50 percent, driven by population growth and increased traffic, factors beyond the company's control.
Capital investment surge trends and bond market notes
The period shows capital invested up 128 percent with gross income rising from 1920 figures. The report highlights a company in 1918 earning $85,600 per $1,000,000 invested, down 34 percent from 1902. It discusses bond market activity in New York including United States Steel 5s reaching new highs and notes rising interest charges and lower stockholder surplus. A proposed solution involves city company partnerships for new subways, shifting earnings risk.
Foreign Exchange Rates See Smoother Trading Day
The foreign exchange market was considerably easier today with bank transactions showing rates for sterling cables around 4.80 to 4.86 dollars. Demand rates were about 4.66 with 6 day bills at 4.83 to 4.84, and commercial bills at 4.82 to 5.18 with minor discounts. Marks quoted at 94 to 95 and guilders near 40 to 41.
Markets Turn Dull and Reactionary in Early Trade
Total sales across New York and Boston show subdued, mixed activity with the most active issues including Steel in New York and Butte & Superior in Boston. Year to date totals reveal New York at 8,459,700 shares and Boston at 537,525 shares, with notable gains and losses in Pacific Coast and local railroad listings. Call and time money rates diverge between markets, signaling cautious investment sentiment.
MENTIONED IN THIS ARTICLE
New York
Boston
Steel
Butte & Superior
Pacific Coast
Pacific
New York Stocks Mixed as London Influence Wavers
Early trading showed slight advances then a broad, unsettled trend with speculative activity waning. London bought heavily in Canadian Pacific Union Pacific Steel and Amalgamated, lifting prices before a broad intraday pullback. Union Pacific earnings slipped, United States Steel awaited report, and bonds moved uncertainly with total par value $4,080,000.
MENTIONED IN THIS ARTICLE
New York
London
Canadian Pacific
Union Pacific
Steel
Amalgamated
New York Central
Baltimore & Ohio
New Haven
Consolidated Gas
United States Steel
United States
Hamilton Woolen Company Declares 8 Percent Dividend
Boston market notes a semi annual 8 percent dividend by the Hamilton Woolen Company. This marks the first omission since 1905 and follows recent dividend passes by Arlington Contoocook, indicating a New England capital tilt.
MENTIONED IN THIS ARTICLE
Hamilton Woolen
Butte & Superior
New York
Boston
Hamilton Woolen Company
New England
Arlington
Contoocook
Hamilton
American Woolen Preferred
Steel Common
North Butte
Ray Consolidated
Granby
150 dollar Gold Bonds Offer in Boston and New York
A brokerage promotes 100 registered 7 percent gold bonds backed by over four million dollars of Boston and Greater New York property. Bonds are purchasable cash or via monthly payments with interest from issue and redeemable after one year. The trust lists 140 tenants and has paid 10 percent dividends to 124 stockholders annually.
MENTIONED IN THIS ARTICLE
LaSalle
Chicago
New York Central Railroad
Chicago Board of Trade
Chicago Title & Trust Co
Zeisler & Friedman
P. S.W. Straus & CO
Boston
New York
Oxford
December outputs and bank votes in early federal reserve era
The Ray Consolidated produced a December record 6,282,167 pounds versus 4,900,994 in November. Utah Copper output fell to 10,624,790 pounds from 11,121,058. Granby Consolidated yielded 21,511,747 pounds of copper for the year, down from 22,682,001. Silver and gold totals reached about 235,000 ounces and 60,000 ounces. Old Colony Trust Company re elected 653 directors with W. Cameron Forbes joining the board. Charles S. Mellen and B. F. Cheney left. Mutual National Bank and People's National Bank Roxbury voted to join the federal reserve system. Officers re elected. Directors authorized action to accept terms of the new federal reserve act.
MENTIONED IN THIS ARTICLE
Igh
AT & T cv
US Steel
West T & T
Adventure al Ae Ae
Alaska
Allouez
Amalgamated
Ag Chem
Ag Ch Pf
Pneumatic
Tel & el A
Amoskeag
Ereeses
Arizona
Gulf
Bos & Prov
Butte & Sup
Cal & Arizona
Cal & Hecla
East Boston
East Butte Ree
Granby
Greene Can
Hancock Eeewees
Indiana Oottewene
Island Creek
Isle Royale
Kerr Lake
Keweenaw
Mason Valley
McElwain
Mergenthaler
Odavee
Miami
Michigan
Nye&n Ro
Nipissing
North Butte
North Lake
Old Colony
Old Dominion
Osceola Aerecpeoe
Pond Ork Coal
Pwr
St Mary's
Santa Fe
Shannon
Shattuck-Aria
South Utah
Superior
Sup & Bos
A. A
Swift & Co
Tamarack
Torrington Ts
Trinity
Union Land
United Fruit
US Steel Peser Es
US Steel Pf
Utah Apex Seaeee MN
Utah Consol
Utah Cop Co
Baby
Victoria Or
Cewetos
West End
Wollaston
Wolverine
Serene
Wyandot
Ray Consolidated
Old Colony Trust Company
W. Cameron Forbes
Charles S. Mellen
B. F. Cheney
Utah
Granby Consolidated
People’s National Bank of
Mass Bond Awards And Bids Reported Across Several Cities
Worcester awards an 80000 temporary loan maturing Oct 16 1914 to Blake Bros & Co with Curtis Sanger Estabrook Co and Moseley Co as rivals. Northampton awards Oct 28 1914 to Blake Bros & Co with Curtis Sanger and Loring Tolman & Tupper bidding. Boston Revere Beach Lynn rail road sells 150000 4 12 per cent bonds maturing 1927 to Paine Webber and Spencer Trask. Salem bids due Jan 30 1914 for a 100000 temporary loan maturing Oct 16 1914.
MENTIONED IN THIS ARTICLE
Worcester
Mass
Blake Bros. & Co
Curtis & Sanger, Estabrook & Co
I. S. Moseley & Co
Northampton
Curtis & Sanger and Loring
Tolman & Tupper
Boston
Metal market notes from New York exchanges
Copper on the New York Metal Exchange held firm with several spot and contract quotes. Tin showed irregular spot values and monthly bids while lead remained quiet and spelter steady. Antimony stayed dull as Tron stayed steady and unchanged.
MENTIONED IN THIS ARTICLE
New York Metal Exchange
Cookson
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Laper
Massachusetts
Weo Real Estate Trust
Stan
Summer Street
Idder, Peabody & Co
Devonshire Street
Wall Street
Tryon
Oston Elevated
Miss Uni
Cities Service CO
Sollers, Phillips & CO Incorporated
Devonshire ST
Beacon Street
Everett A. White
American Fallstate Company
State Street
Broad Street
WN. Y
Southern Pacific
Third Avenue
Business Real Estate Trust of
Wm. Filene’s Sons Company
Rock Island
Sara Gaat
New York City
Interborough Rapid Transit Company
Indy
Tim Rion
Rae
Stock Exchange Ae
Tokyo
Aeneas
Segele
Sparta & N
Cuba
NY State
Mt. E
Coe Bis i
Ie Ae Bros & Co
Nort & W
CRIGP
Ae Coe
Eee NY
Erie
Gomet Gee
Beeen
North Pacific
Lopes
Eure
Fes Eeee
Petio Ae
Alpaie
Penn
Essa
Amba
Dei
Distillers At&s
Edison _ i
AT & S
Erie Nl McLeen
Balt & O
Balt & O Pitts Li
E & W Va
Balt & O Swn
Elec
Beth Steel Ist
Hl Steel
Beth Steel Rig
Indiana
Bklyn
Bklyn Rap
Lowa
Ber City Co
Wep
Phillippine Ry
Bsr
Atral
M&s
Iace Air Ladj
Sealy Air
Eee
Souther Po
Canada South
Ches & O
Ches &O
Ches & O Cvttis
Nation c Gas
Lyfé CMi& St Pen Et
Nyc
Mil& Bi P
C& CB
Kan City
Ry. A
Ee I&rr
Birmingh
Texa
Yes
Joi Co Tol
Ark
Lake
Liggett & Feyerss
Gigeres
Ube Sa' “Realty
Tl& Ww
Thy M&p 5 Trust
N&aps
aSir
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Close
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Straus
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Beth Steel
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West Electric
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Register
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Deere & Co
Sreere
Erie Ist
Fed M&s
Goodrich
Nor Ore
Hoek Valley
Agr Corp Pt
Puma
At's Rt
Kayser J & Co
Lack Steel
Lehigh Valley
Liggett & Mey Pf
Loose-Wiles Co
Louis Nash
Mackay
Senetee
Mackay Pf
May Dept Store
Mer Marine
Mex
Pet Co Lt
Pet
MSP& M
Nat Biscuit
St Louk
Sl&sfs Pf
Seaboard Air L
the Texas Co
Third Ave
Sneeee
UN B. Theaneee
Union Acific
West Union
W& L
Boston Stocks
A. B. Leach & Co
Bostgn
Philadelphia
Marconi Big
Bay State Gas
Boston & Corbin
VOW
Butte & London
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Vee Seeewe
Corbin Figor
Cortez
Nevada Douglas
New River
Oneco
South Lake
United Verde
Utah Metal Sea
Yukon
Son
Ida
Asser Yaary
Washburn Reali
Washington
Island Creek Coal Company
OMMON
Island Creek Coal
Tata
Mie
Capita
Well Electric Light Corporation
Lowell
Coil Electric Light Corporatio
Janua & Webster
Mutual National Bank
Federal Reserve System
Liverpool
Pti
Lowins
Jose
Metal Markets
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