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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 20, 1918
Page
10
The Cudahy Packing Company offers five year notes dated July 15 1918 callable in whole or part for sinking fund at 101 with accrued interest. Outstanding amounts total over 11 million with 2 million and 6.55 million figures noted. Company lists plants in multiple cities and strong working capital executives claim profits equal to 1917. Due July 15 1923.
A sharp rally in prices followed news of a vigorous Allied counteroffensive and large American troop arrivals. The market closed irregularly as profit taking appeared. analysts foresee a prolonged struggle with peace as a major factor. Reports cover Cudahy Packing, Nova Scotia Steel, Union Sulphur, Freeport Texas, and United Alloy Steel earnings and bond issues.
The article explains conversion of 4 per cent bonds into later issues and outlines the new structure with First and Second 41-48 bonds alongside untouched Third loans. It notes a German setback and allied counteroffensive driving French bond prices higher in the New York market with City of Paris bonds climbing to 893-4 from 821-2.
A bankers syndicate led by Lee Higginson & Co offers a new Cudahy Packing Company note issue of 10 000 000 at 98 yielding about 7 1 2 percent. Maturity is January 15 1923 with strong protective covenants including net quick assets at least 200 percent of notes and restrictions on issuing other bonds while notes are outstanding. The firm reports working capital of 31 3 million and last year net profits of 5 979 753 after taxes and depreciation. ready market anticipated in New England.
This afternoon at two o clock training detachments from Tufts College and Franklin Union compete in a track meet and a baseball game at Tufts athletic field.
Yesterday's trading shows New York with 488,600 shares and Boston with 14,581 shares changing hands. Century Steel led Boston with 2220 shares traded. Year to date through Jan 1 1918 New York totals 69,874,385 shares and Boston 1,866,953 shares. The prior year period lists New York 117,464,200 shares and Boston 3,791,698 shares.
New York stocks paused after opening gains as profit taking and a firmer money market trimmed early advances. Key leaders included United States Steel Baldwin Locomotive Tobacco Products Bethlehem Steel and Mexican Petroleum with Sumatra Tobacco gaining modestly. Bond market shows little change and total shares traded reach 475000.
A broad dealer day shows gains in Boston market listings with Fairbanks at a new high and other names like Century Steel, Booth Fisheries, Boston & Maine, and New Haven advancing. Copper group strengths include Copper Range and Isle Royale, Mohawk drops. Old Dominion copper output for H1 falls short of last year due to labor shortages.
Boston stock listings for July 19 show high and low quotations and closing prices. The report notes net changes from the previous close across bond listings and related securities.
Stockholders of U S Light and Heat Corporation are urged to contact Box B-21 Room 211 44 Broad St New York immediately regarding common and preferred shares whether held outright or on margin.
July 19 current prices list rokers customers loans at 5 to 6 percent and outside brokers call loans at 5 to 6 percent. Customers commercial loans 6 percent. Individual collateral loans 6 percent. Commercial paper 6 percent. Year money 6 percent. Gold and currency prices shown for 1854 bar silver and London bar silver. Rediscounters of commercial paper and United States certificates of indebtedness noted with liberty loan bonds and 15 days or less to run.
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