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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 07, 1916
Page
14
Market wrap notes irregular close with zinc shares wavering after early gains. Am Can and In spiration lines show mixed movement while Am Zinc and Atlantic Gulf preferreds perform differently on the local board amid war issue tensions.
New York total sales 5627170 shares, Boston 30235. Reading led New York with 52900, Am Zinc top in Boston with 5750. Year to date Jan 1 1916 totals: New York 88087665, Boston 6445735. Last year’s totals: New York 63613400, Boston 6525212. Big gains and losses: Willys Overland rises to 75 3 4, Am Zinc falls to 33 1 4 in New York. Atlantic Gulf pref jumps to 65, Am Zinc drops to 33 1 2 in Boston.
New York market activity on July 6 featured several new high records during a session described as moderate. Traders noted steady demand across key securities with gains led by prominent issues, while some declines appeared in lagging sectors.
Stocks showed passing influence from external and domestic developments with May earnings signaling huge gains versus last year. Reading led activity and gains, while final hour trading erased much of the advance. Canadian Pacific, New York Central subsidiaries, and allied issues drew interest amid post close control changes to Cleveland interests. Mexican, motor, and select fertilizer stocks varied in response. United States Industrial Alcohol and Can makers offered only mild enthusiasm.
A Boston Safe Deposit & Trust Co statement dated July 6 1916 reports cash totals 1 809 183 12 with demand loans collateral time and mortgage figures and real estate values. It lists certificates of deposit sinking funds and reserves and records averages of legal reserves 8 09 percent currency and specie 12 44 percent in reserve banks. Subscribed and sworn before a Boston justice. Total 720 833 008 01.
GM fell 60 points to 500 at the close while Inspiration surged to a new high of 52 after a 13-4 gain. Zine issues led declines of 11-2 to 3 points as the year’s low quotations appeared. Sugars set new records with American Beet advancing 25-8 to 961-8 and Cuban Cane up 11-2 to 631-8 amid broad selling. Marine preferred saw late selling but United Fruit held its gains as total stock volume reached 560000 shares.
Boston market firm with strong spots and some weak features. Atlantic Gulf preferred hits a new high at 65, common near 67 with small spread. United Fruit climbs to 162 1/2 on June profit news of 2.56 million dollars for June, yearly earnings seen at 10 million. Greene-Cananea rises to 45 1/2 as Mexico outlook improves, raising hopes for resumed operations.
New York stock figures show highest and lowest prices and last sales for today with last sales compared to yesterday. Market activity summarized with focus on price ranges and notable shifts, reflecting early July trading dynamics.
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