Stock Prices Buoyant Across Sectors In Early Gains
Market report shows sharp uplift across departments with steel advancing nearly 4 points and Reading rising 27 8. Steel specialties climb between 2 and 5 points as local market strengthens.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 19, 1918
Page
13
Market report shows sharp uplift across departments with steel advancing nearly 4 points and Reading rising 27 8. Steel specialties climb between 2 and 5 points as local market strengthens.
Total sales in New York 616 400 shares and Boston 14 102 shares. Fairbanks the most active Boston issue at 2409 shares. Year to date totals show New York 116 885 500 shares and Boston 3 790 753 shares. Figures compare with last year in New York 116 924 500 and Boston 3 785 554.
Bullish trading drives New York market higher on French and American counterattacks. Large volume 610000 shares with United States Steel up to 108 1 2 and Sumatra Tobacco surging as pools push prices. bonds show mixed action with Paris 6s up three. New guidance from Washington tempers fears of excess profits tax.
Prices opened strong with gains on encouraging battlefront news but activity remains below New York enthusiasm. Fairbanks hits a new local high at 42, up nearly 16 points in three weeks. Century Steel Booth Fisheries United Fruit rise. Boston & Maine up on potential gov’t action. Hayden denies Alaska gold sale reports as Sitka properties explored. Butte & Superior earnings anticipated to improve with shelter price rise.
Unclear bond quotations show varied yields with references to Louisons numbers and street lines. The fragment hints at bond listings and rates but lacks complete data for a full summary.
The market opened with strong gains as French and American forces launched a counter offensive on a wide front. Prices climbed on news of allied towns captured, with Reading regaining dividends and Anglo French 5s hitting a yearly high.
William A Read and Company offer 7 percent notes of Steel and Tube Company of America at a yield of 7.80 percent. The company, a major tubular goods and pig iron producer, operates plants in South Chicago Indiana Harbor Evanston Illinois and Zanesville Ohio. 1916 earnings exceeded 2.94 million and 1918 earnings reached 3.645 million. this year’s earnings are projected above 6 million. Construction of about 18 million will raise property value to roughly 32 million. Underlying securities total 12.256 million with 65 million notes outstanding. The notes are a direct obligation secured by 5 million of the company’s 7 percent series A general mortgage sinking fund bonds due 1943.
An old classifieds fragment advertises upholstery services with price twelve dollars and home pickup options, plus numerous dance lessons and ballroom listings from several studios and instructors. It lists BEN KAPLAN CO and HELENE L SWEINEY with addresses and phone references, plus others such as GLOVER'S and BAY STATE. The piece also mentions a moving company from Rochester and law offices offering services, creating a chaotic mix of ads and notices.
The Boston and Maine reorganization advances toward ending receivership with plans pending announcements. Government assistance is expected, contingent on plan modifications and approval by leased-line interests and stockholders. A federal official praises railroad interests for fairness and foresees constructive results soon.
July 18 market snapshot shows brokers' customer loan rates at 5 to 6 percent outside brokers loans 54 to 6 percent and various money rates at 6 percent. Rediscounters and Sub-Treasury activity noted with New York and Boston figures plus foreign exchange movements including sterling and other currencies.
Edison Electric plans offering of 3 million dollars in notes to yield 7.10 percent. Proceeds fund expanding generating and distributing capacity to meet rising business demand, including Watertown arsenal and Victory plant at Squantum. The firm has 22.5 million dollars in stock outstanding, valued by cash paid at about 40.44 million.
Massachusetts Supreme Judicial Court equity matters order receivers to notify New England Equitable Insurance Company policyholders and creditors to appear August 6, 1918 in Boston. Copies of the order must be published in the Boston Post and Boston Globe weekly for three weeks and mailed at least 14 days prior. Judge Cronin signs.
Multiple death notices list names and ages with funeral details across Boston, Cambridge, Somerville, Roxbury, Brookline, East Boston and surrounding towns. Entries give residence, date of death, funeral times, church or cemetery, and invite relatives and friends to attend.
Members of the Ancient and Honorable Artillery Company are notified of the death of their late associate William Carter. Funeral services will be held at the Methodic Episcopal Church Needham Heights on Friday July 19 at 2 30 p m. Captain William H. L. Odell and Clerk George H. Allen.
We regret to announce the death of Brother Patrick J. Sheetin. Funeral services at Mission Church Roxbury Friday July 19 at 10 a.m. Members are earnestly requested to attend. E. Mark Sullivan Exalted Ruler P. McCarron Secretary
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