Stock Prices Break Sharply Across Markets
Prices fall across rails and major industries with U S Steel down over three points and Bethlehem Steel off four. Many other specialties dip two to three points as traders resist the downward trend.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 14, 1917
Page
10
Prices fall across rails and major industries with U S Steel down over three points and Bethlehem Steel off four. Many other specialties dip two to three points as traders resist the downward trend.
Yesterday's market totals show New York sales of 910000 shares and Boston 18097. U S Steel led activity in both cities with 250400 and 3730 shares respectively. Year to date totals compare New York 114326900 and Boston 3745380 shares with last year figures.
July 13 New York market sees lower sentiment amid extended short interest and higher call loans to 514 percent. United States Steel leads declines with 3.88 points, while Bethlehem Crucible and Lackawanna Steel fall. Reading, St. Paul, Canadian Pacific show some strength in rails, while shippings stay firm. Total sales reach 880,000 shares and Liberty bonds hit new wide-range lows.
The Lowell Electric Light Corporation of Lowell Massachusetts announces a quarterly dividend of 2.50 per share payable August 1 1917 to stockholders of record at the close of business July 18 1917. Stone Webster Transfer Agent.
Boston July 13 high and low quotes for bonds listed with time of quotation and net change from the previous close. Details cover bond performance and market movement for the day.
The Boston market weakened with the New York decline as American Zinc slipped to 291 2, Massachusetts Gas fell two points to 95, and Fruit dropped 1 12 points. Overall trading was dull and the NY market’s higher volume contrasted with Boston’s small turnover.
The decline in United States Steel, Bethlehem and other top steel issues follows a belief that government pressure to lower prices will cut profits. Analysts note eight steel products held steady at a record high, while International Mercantile Marine shows unusual strength as war prices face scrutiny.
American Sugar Refining Company may distribute Great Western Sugar stock to its holders in a roughly 1 for 10 ratio, potentially worth $30 to $40 per American Sugar share. Cuban sugar firms face lower earnings due to fixed grower prices, political turmoil, and lower cane sugar content. Rail and industrial stocks rise on speculation of bull factors from peace or lower prices, with United States Rubber and National Conduit among gainers. Liberty Loan bonds slip toward new lows as tax changes loom, and corporate dividends may be taxed if funded by earnings since 1913.
July 13 market summary shows diverse loan rates with brokers and customers quoted acrosspargne ranges. The foreign exchange market remained steady with afternoon rates for key currencies including sterling, guilders, and lire noting modest demand and bank bid offers.
The report explains that new U S bonds are priced in units and fractional fiftieths with decimals shown as fiftieths in the table. Transactions and quotes are presented in thousands of dollars.
W. F. E. Roelofson, long active in brokerage and investment circles, has aligned with Whitney, S. Olwellgy in a move signaling a strengthened advisory presence. Roelofson will bring decades of market experience to the firm’s client services and asset strategies.
Massachusetts officials challenge War Department population figures used to set the Bay State draft quota. Critics say estimates exceed reality by about 300000, forcing more men to be drafted. Brookline shows a notable discrepancy with 1915 population vs 1917 draft estimate. War Dept cites reliance on delayed or unavailable registration data and limited time for estimates.
The Bay State National Guard officers start a 10 days training at the Wake rifle range with Canadian instructors lending expertise to learn trench warfare. The program covers trench construction wire entanglements improvised bombs sapping and mine work ending July 2.
British naval air service carried out bombing raids last night on aerodrome at Houttave Nieuw Munster Ghistelles the rail junction north of Thourout Bruges dock canal bank and dumps south of Ostend harbor. Bombs also hit Solway works Zeebrugge and Zeebrugge mole base. several tons dropped with all aircraft returning safely.
Two Dorchester sisters, Maxime McKinley aged 13 and Virginia Ryan aged 7, will stage an oper-air bazaar and fair for Red Cross support. The event runs this afternoon from 2 to 6 on the lawn at 214 Hamilton Street with an open invitation to all residents.
Open high and low prices for July through March shown, with spot market quiet. Liverpool futures unchanged, American middling uplands steady at 19d, sales total around 3,000 bales against 2,900 American listed receipts.
Letter to the editor defends Ulster Men's Association mass meeting at Faneuil Hall New England as patriotic and loyal to America while condemning reports of treason. The writer praises attendees, rejects newspaper distortions, and clarifies the twofold purpose to pledge allegiance to the United States and urge fair treatment for Ireland. The exchange cites speeches by Edward J. Slattery Joseph Smith and John J. Walsh, noting disturbances were exaggerated and Sinn Fein was not mentioned.
Attorney John J. Walsh condemned the disturbance at Faneuil Hall after he denounced Joseph Smith of Lowell for criticizing President Wilson. He said those responsible ought to be locked up as alien enemies.
Walsh denounces Sinn Fein supporters as anti American agitators and seditionists. He labels Ulster men as peaceful, blames rabid Sinn Feiners for disturbances, and urges harsh action toward those who distort Ireland’s truth. He praises Britain's role and urges unity for wartime effort.
British raided trenches south of Hullech and southeast of Ypres capturing prisoners. Russian attacks on Lomnica line and in Galicia repulsed. Romanian front activity reported. Russians in eastern Galicia captured 10 officers and 850 ranks, five heavy guns and 10 machine guns. Italian guns dispersed infantry marching from Piazza to Pedrazzo in Terragnolo valley and wagon movements in Idria valley.
On the Stanislau front in the past six days Russian forces have crossed the River Lomnica at Kalusz and move toward Dolina and Stryj along the Kalusz-Lemberg railway. Capture of Kalusz brought nearly 100 prisoners, five heavy guns, and 10 machine guns. Artillery hammering continues across Galicia and Romania with limited infantry actions in other sectors. Raids and reconnoitering keep British and German forces engaged on the northern end of the front in France.
In Paris on July 13 Major General Pershing issued a proclamation declaring July 14 a holiday for all troops in France. It states the American army joins with French soldiers and people to celebrate their national holiday and shared devotion to high ideals.
London July 13 Baron Rohondda food controller issues an order taking control of the 1317 crops of wheat barley corn rye and potatoes to secure food supply.
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