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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 09, 1920
Page
15
The New York stock market showed active but slightly cooler trading than yesterday with pools steering many moves and rails drawing renewed demand. Total volume reached 11 1/4 million par value with Armour & Co notes touted and a July reinvestment push noted in high grade industrials.
Tarrytown New York July 8 John D Rockefeller celebrated his 81st birthday at Pocantico Hills estate with no set program. Friends called or sent messages to congratulate him.
George H. Cushing, managing director of the American Wholesale Coal Association, says there is no coal shortage and price spikes stem from government alarm. He notes weekly production is ahead of schedule and storage in New England, New York, and Chicago exceeds dire predictions, countering reports of imminent famine.
The eight year old Charles T. Hughes died at Cambridge Municipal Hospital after eating a poison tablet he thought was candy. Funeral from his parents home will be at Malden Holy Cross Cemetery. Norman Hughes, four, also ingested the tablets but recovered.
The Miners' Federation meeting at Leaming to day adopted a resolution demanding government withdrawal of troops from Ireland and halt of war material supplies to Bolshevik enemies. A general strike of all unions would follow if unmet. The resolution, only one vote against, goes to the Trades' Union Congress in London Tuesday.
At 10 a.m. Japanese cruiser officers will call at the Governor’s office State House. At 8 p.m. a reception to State Regent Mrs Franklin P Shumway of the D A R at Vineyard Haven by Sea Coast Defence Chapter. At 8 p.m. boxing measure advocated at the Y M C A. At 9 p.m. a reception to Harvard Summer School students by Dean James H Ropes and Director and Mrs A F White Harvard Union.
Proceeds from sale of notes will reduce current liabilities and do not increase indebtedness. Notes are direct obligations of Armour and Company with a First Closed Mortgage lien on about $57.5 million of assets. Projected net current assets after sale estimated around $230 million. Earnings history shown with annual figures and subsidiary contributions, plus covenants on asset liens and liquidity. Blair & Co. of New York serves as underwriter.
The analysis notes St Paul's steep revenue losses in early 1920 despite record gross business and explains rate changes, bond yields, and earnings prospects. It discusses Southern Pacific's potential to raise dividends under new railroad law, Pennsylvania stock sales of SP, and the legal view on stock dividends for national banks.
The Treasury Department bans banks from paying stock dividends while the issue is under investigation by the Attorney General and a decision is expected shortly.
Miss Elizabeth Cabot completes her debutante year as a social leader for the 1919 20 season. She heads the Sewing Circle and Vincent Club events this winter and is active in Red Cross and war relief work. Lives at 23 Newbury Street.
The Klots Throwing Company a silk importing and manufacturing concern with 13 plants in New England and the Middle Atlantic States and offices in Japan and China today was placed in trustees to continue the business. Assets were about 11 million dollars against liabilities of 8 million but lack of liquid assets forced the action. Trustees named are Charles Cheney William Skinner and A P Williams all of New York.
The body of Gustave Grachian, 55, of Lexington street Lawrence, found in Quarter Mile Pond near Stoneham by Metropolitan Police after disappearing from the New England Sanitarium. Clothing on the pond bank supports the conclusion he committed suicide in despondency.
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