Steel stocks rally in late trading amid mixed market
Steel shares lead a broad uptick in late trading as Am Sugar shows strength while Maxwell Motors falls about six points. Rails move little and the local market shows only fractional gains overall.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 18, 1917
Page
10
Steel shares lead a broad uptick in late trading as Am Sugar shows strength while Maxwell Motors falls about six points. Rails move little and the local market shows only fractional gains overall.
Daily market totals show New York and Boston trading volumes with U S Steel leading activity in New York. Year to date comparisons reveal higher New York and Boston shares versus last year, with Am Tobacco and Maxwell Motors marking notable gains and losses in their lists.
New York stocks slipped early on light volume then rebounding in final hour. United States Steel fell to 119 3 8 while Maxwell and New York Air Brake dropped. oils and copper shares eased. A late rally lifted rails sugars and tobaccos as total volume reached 675000 shares with bonds showing irregular activity and private demand stronger for railroad issues.
New York stock market today shows the high low and closing quotations for the session. The report lists price levels across key issues and tracks daily movement from the prior close.
United States government bonds are reported by the New York Stock Exchange with market quotes as of today. The brief item notes the bond prices and yields in Boston and New York trading contexts.
The paper analyzes earnings versus prewar records for industrials and metals, noting most postwar profits surged while prices lagged. Railroads largely show higher latest earnings than before the war, yet prices remain below prewar peaks. Inflation appears more tied to commodity prices than overall stock values.
Boston market shows widespread declines with Atlantic Gulf Boston Elevated and Pond Creek Coal up modestly. American Zinc swings on dividend news, copper prices slump due to government price controls, while silver climbs to a 20 year high amid strong foreign buying. The big market rebounded after a week of losses, easing margin pressures for major houses.
Boston stock quotes today list high and low prices with sane quotations and net changes from the previous close. Figures cover prominent securities traded in Boston with brief movement summaries.
Governors and officers of the Federal Reserve banks in New York Boston Philadelphia Richmond Cleveland and Chicago joined Liberty Loan committee leaders at a daylong meeting to map the next war loan drive. A. L. Aiken of Boston was chosen chairman. plans will be filed with Secretary McAdoo after tomorrow’s session.
July 17 current prices show broker customers loans at 4 to 5 percent outside broker calls 4 to 5 percent customer commercial loans 5 to 6 percent and collateral loans 5 to 6 percent. Commercial paper 5 to 54 percent year money 5 to 6 percent bar silver in New York 80 56 Mexican dollars 48 14. Federal Reserve Bank notes details on rediscount eligibility and maturities for paper and bonds.
Sierra Pacific Electric Company announces a quarterly preferred dividend of 1.50 per share payable August 1 1917 to holders of record at close of business July 16 1917 with Stone Webster as transfer agents.
The American Zinc Lead and Smelting Company declares a regular quarterly dividend of 1.50 dollars per share on its preferred capital stock. The payout is scheduled for August 1, 1917, to preferred stockholders of record at the close of business on the preceding date.
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