Market strong in spots war stocks continue strong
U S steel and rails show firmness while mercantile marine petitions for relief. Granby local market remains resilient with pockets of strength as demand and prices recover.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jul 21, 1916
Page
16
U S steel and rails show firmness while mercantile marine petitions for relief. Granby local market remains resilient with pockets of strength as demand and prices recover.
Yesterday total sales in New York 436 630 shares and Boston 23 392. Mercantile Marine pref led New York with 77 900 shares, Atlantic Gulf led Boston with 11 260. Year to date since Jan 1 1916 New York 93 541 489 shares Boston 6 711 208. Compared with last year New York 68 921 500 shares Boston 6 856 461. Biggest gains and losses noted: American Car Foundry up to 59 percent, Mercantile Marine pref down to 83, Granby up to 83, Old Colony R R down to 148.
Foreign advices push uneven market trends with British war tax on shipping profits triggering a sharp early drop in Mercantile Marine. Atlantic Gulf West Indies and United Fruit rise, while railroad shares weaken. Alcohol leads gains, while munitions and steel stocks rebound. total volume 430000, par value bonds $1.89 million.
Boston July 20 stock market shows selective strength led by Atlantic Gulf rising to 66 on earnings prospects. Mercantile Marine drop trims gains. copper and spelter rise in London with unclear domestic impact. Copper price uncertain, banks seek rediscounts, Copper Range to consider dividends, Utah Metals dividend delayed as cash conservation moves forward.
New York July 20 report lists today’s highest and lowest stock prices and the latest sales. Data remains incomplete due to OCR errors but reflects market activity for the day.
Boston stock note lists today’s highest and lowest prices along with last sales for bonds and other markets. The report provides a snapshot of market activity for investors and traders.
Leading bankers anticipate further gold imports driven by British and Allied aims to sustain the bull market in American securities. Merger possibilities between American Zinc and Butte & Superior are discussed, with plans to issue new shares to current holders. International Mercantile Marine faces big tax implications as profits rise. Copper prices expected to adjust after a spike, while steel and war stocks rally on short covering and perceived normal-year earnings.
Allan A. Ryan & Co. syndicate gains control of Stromberg Motor Devices Company of Illinois and plans a new firm named Stromberg Carburetor Company of America, Inc. The reorganized entity will assume Stromberg Motor Devices and issue 50,000 shares of no par value stock.
The New York July 20 market showed a dull and irregular session with most dealings concentrated in Anglo-French 5s and Tennessee Copper 6s.
The foreign exchange market opened firmer with sterling at 4.7639 on cables and 4.7513 to 4.7516 on demand. Francs traded at 5.91, marks at 73, and guilders at 417-16.
Copper markets are dull with producers' prices steady and second hands posted with various delivery and monthly quotes. Spelter markets are strong while Joplin zinc ore remains steady at 50. Lead is easier with outside bids around 6.30 to 6.40. London prices rise for copper and tin while lead holds.
Bankers Marshall & Co. move from the fourth floor at 70 State Street to larger suites on the third floor. Friends in banking circles praise the efficient arrangement of the new offices.
Net earnings of Ray Consolidated for the half year ended June 30 approximate 5 272 933 dollars. Willys Overland shipped 94 155 cars in the half year to June 30. Arizona Copper produced 4 800 000 pounds in June at an annual rate near 60 000 000 pounds. The Thomas G Plant Shoe Company recapitalization doubles common shares outstanding 2 500 000 preferred and 2 500 000 common. NYSE admits trading American Foreign Securities Company three year notes of 94 500 000 dollars secured by neutral collateral from the French Government.
Six groundfish arrivals at the fish pier with haddock cod pollock and hake totals listed for each vessel. Mackerel and swordfish arrivals also shown with wholesale price ranges for haddock cod pollock mackerel swordfish and halibut. A dense harbor fog delayed inbound and outbound ships while salvage work on the William Chisholm progresses and United Fruit liners Honduras Esparta report weathering a hurricane season.
The steam yacht Peregrine once owned by R. H. White was transferred from American to Norwegian registry. Now a sturdy freighter she sails tomorrow carrying cargo of potatoes hay machinery and four passengers for Cuba. Captain M Enoksen commands and the vessel will work Iceland fishing service after departure from Maine routes. Excursion traffic remains high with steamers for Maine and the Provinces departing nightly.
Shipping news details numerous steamers and schooners arriving or sailing to ports including Cape Town Jamaccan St John and Portland Halifax Yarmouth Bangor Bath New York and Boston. Tugs barges and lighter services listed with vessel names owners and routes across East coast Canada and US ports.
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