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This newspaper page contains 17 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jan 29, 1915
Page
16
Market advances show broad strength with steel marked as the only weak spot while 43 petroleum issues rise and New England Telephone stands out as a feature in Boston trades.
Market roundup shows New York total sales 274900 shares and Boston 28260. Reading leads as most active issue in New York with 38100 shares. National Mining tops Boston with 6105 shares. Year to date totals: New York 4492200, Boston 433609. Compared with last year New York 8922700 and Boston 571582. Biggest New York gain Mexican Petroleum 45 cents to 7.15. Steel common falls 5 to 4.3. Boston gain Am Hide Leather pref 41 4 to 24. Steel common down 5 to 4.3.
The New York market faltered on United States Steel's drop but recovered part of the losses as steel price cuts took effect. Rail shares rose modestly, petroleum names surged, and some grains hit fresh highs with export demand. The stock exchange faced mixed signals from finance, while bullion reserves fell and bonds showed uneven activity.
Lake copper rises to 1484 cents amid broad activity on the Boston market. Tamarack advances on tailings treatment plans expected to yield 5 million dollars over 20 years, while Centennial shows renewed potential as a mine. Mohawk gains from strong ore recovery. National equity trades rise, with Butte & Superior also central to the session. New England Telephone jumps while Massachusetts gas earnings lag. six months to December show slight gains but below record 1912 levels.
A $1.50 per share preferred dividend is declared by Sierra Pacific Electric Company for February 1 1915 with stockholders of record at the close of January Webster Transfer Agents. TEMPLE H. FAY & CO. advertise stock information and cash or margin dealings at 53 State Street Boston.
Boston trading on January 28 reflects bond and stock dealings with prices, yields, and transactions across numerous issues. The report lists bonds from German strip Central Pacific and others, with notable names including Detroit Edison, Reading, and Erie, and shows totals: sales $2,437,000 versus prior week and year.
The foreign exchange market was steady with little movement. Afternoon rates show Sterling-Cables at 4.85, with demand. Francs at 5.174, marks at 0.874, and guilders at 0.403.
The Diamond Match Company directors declared a March 15 payout of the usual 11 2 percent quarterly dividend plus an extra 1 percent for good measure.
The bond market rose modestly in New York with United States Steel 5s and Mercantile Marine 46s showing weakness, Third Avenue 5s holding firm, while Consolidated Gas and American Telephone convertibles stayed firm. Missouri Pacific convertibles remained active and feverish.
An issue of 900,000 five and one half percent 22 year average school bonds of Toledo Ohio has been awarded to N W Harris Co of this city at 190 893.
The steel common minimum, lowered after close to 40, triggers weak trading and broad market nerves. The exchange cut the minimum to 40 after Tuesday's close, with little liquidity at 48 and only about 1,000 shares moving that day. Brokers see potential for a real market at 40, while other issues rise on war-driven demand and improved earnings stories.
Crown Reserve Mining Company lowered its annual dividend from 21 to 12 percent and declared a 3 percent quarterly dividend instead of 2 percent monthly. For the year ended December 31 its operating profit was 239,477 dollars with a surplus after dividends of 477,711 dollars, down from 844,615 dollars prior.
Weyman Bruton Company seeks to raise total capitalization from 8 million to 12 million dollars. Common stock would grow from 4 million to 6 million, with preferred stock increased correspondingly.
The NYSE seat of Leslie Herman sold to Harry G. Tobey for 40000 dollars, exceeding the prior sale of 38000 dollars. Robert Wilson elected as a new exchange member.
The Massachusetts Insurance Department completed its triennial examination of New England Mutual Life Insurance as of December 31. The report notes growth since the last check with the force increasing from 214,520,000 to 291,457,000 and gross assets rising from 54,445,298 to 70,189,824 while policy reserves grew from 47,520,610 to 61,345,780.
Harmony Mills directors vote to pass the regular quarterly dividend of 1384 per cent on preferred stock. Boott Mills follows with a semi annual 2 per cent dividend due now. Pressed Steel Car Company declares the usual quarterly dividend on preferred but passes the common stock dividend.
Beverly Massachusetts invites bids by 4 p.m. February 2 for a temporary loan of 300000 with three maturities of 100000 each on November 5 November 10 and November 24 1915.
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