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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 10, 1916
Page
12
The market recovered from June lows and drifted with little momentum as crop prospects and fall business outlook shape investor sentiment. War stock readjustments trend lower with zinc and munition stocks retreating. steel and railroad issues hold firm near year highs while copper and lead prices slip.
The Board of Directors of Anaconda Copper Mining Company declares a dividend of 2.00 per $50 par share payable August 28 1916 to holders of record at 12 noon July 22 1916. Stockholders who have not converted to $50 par value shares should do so to receive the dividend. A H Melin Secretary.
A two percent dividend of two dollars per share on the company’s common stock is declared payable July 15, 1916 to stockholders of record at the close of business June 24, 1916. Transfer books remain open. John W. Damon, Assistant Treasurer.
The financial scene shows a persistent dip to 53,546,000 and a yearly low, despite hopes for higher rates if credit tightens. Analysts note surplus credit remains, with call money at 4 percent despite past spikes. Steel Corporation earnings due soon could buoy markets, and railroad companies report rising profits, reducing liquidation risk.
The Boston Post invites readers to submit inquiries about listed and unlisted stocks and bonds from New England industrial, public utility, bank and mill companies. Replies will be impartial and data based, but accuracy not guaranteed. no market predictions or endorsements. Include full name and street address when writing to the financial editor at Boston Post.
The road operates under receivership with liens on mileage including first on 16 miles second on 128 miles and third on 1348 miles plus a third lien on 6 435 000 of subsidiary bonds. It has failed to refund notes and now shows a deficit for ten months of the year while prior years yielded small fixed charges. A stiff assessment and possible debt reduction are expected as reorganization forms.
The Rev Albert R Williams who led Maverick Congregational Church East Boston for seven years has resigned his pastorate. He had been granted a year's leave and traveled in Europe. He is now in Pasadena California and his resignation has been accepted.
Residents of Arlington push to establish a local bathing beach for children mimicking Winchester’s plan. Several potential sites in town are to be considered for the project.
Thousands attended sermons by trained laymen at the World’s Salesmanship Congress opening in Detroit. President Wilson is due to speak at the convention hall and renew with Ford Motor Company employees before 4 p.m. in the city.
Calendar notes tides and celestial details for July 10 1924 including tide heights morning and evening, full moon dates July 14 August 18 September 14, Mars as evening star and Jupiter as morning star. Also marks day of year 1924 and war day count with 20th day of summer.
Fishing vessels arrived slowly at the fish pier due to poor weather but a larger shore fleet was forecast for the day with mackerel swordfish and groundfish abundant. The United Fruit steamship Simon arrived from Port Limon on a rapid 211 mile run and will depart Thursday for Port Limon via Havana. Other tropical fruit cargoes due include Taunton from Baracoa Cuba San Mateo from Jamaica and Vera from Jamaica. Seamen shortages hinder the Swedish bark Maorilands which sits at anchor awaiting crews despite high coastwise wages. Massachusetts school ship Ranger repairs near finish and will resume a Maine coast cruise with over 100 cadets aboard returning to Boston Sept 15. Gloucester schooner Monitor now being enrolled under British registry to load for Newfoundland after surrendering American registry.
Shipping notices report steamers Simon Terfry Port Simon Prince Arthur and many others sailing from Gloucester and nearby ports. Tow boats like Herbert Rickes and barges West Point Washington depart for destinations including Newport News New Bedford and Baltimore. Vessels Prince George Amelio San Juan Hercules and Chatham Braddock tow barges as piers and tugs operate along Hampton Roads and Portland Massachusetts.
An exclusive automobile securities firm argues profits come from early investments in auto stocks. It cites Willys-Overland rising to $130 a share, Reo up over $30, Chevrolet from under $100 to over $200, and Paige-Detroit doubling. The firm claims superior expertise and offers verifiable broker guidance.
Emerson Motors Company chartered with one million shares capital. 300 000 shares are 7 percent preferred but held in treasury along with 200 000 treasury common shares. No debts, cash rich, starting production at Long Island City plant. Demonstrations of cars displayed in New York City. Officers include Willis G Emerson chairman T A Campbell president R C Hupp vice president George N Campbell secretary treasurer M S Shanks assistant secretary and George B Gifford director from Standard Oil.
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