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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 05, 1912
Page
13
Yesterday's curb market features included Laramie Boswyocolo Majestic Calaveras Nevada Douglas and Raven. Laramie showed improvement while Nevada Douglas Raven and Calaveras weakened. Total sales reached 25 071 shares with notable shifts across the stocks.
Wheat continued higher as buyers reacted to unfavorable Kansas and Nebraska reports. Crop experts warn of damage while cooler weather encourages some selling. Optimistic Nebraska-Kansas notes fail to calm the nervous trade as bulls expect a large hard winter and spring wheat crop to keep supplies tight east of the Rockies. Spring wheat shows little change and expectations for next week’s government report weigh on prices.
No new features attend the money markets as rates remained unchanged from Monday. Call money in New York stood at 2 3 8 4 percent with time money at 3 percent for six days and various six to six month maturities quoted. Local money and foreign exchange quotations were listed.
Franklin reports a copper profit in April helped by current prices though improvements costing over 160000 have not yet paid off. May output at Phelps Dodge reached 12009086 pounds up from April and May 1911 figures. Anaconda remodels Washoe concentrator to boost copper extraction and capacity.
Books close for Du Pont de Nemours and others including Mass Electric, Northern Railroad of New Hampshire, Cast Iron Pipe and Foundry, Central and South American Telephone, International Smelting and Refining, Mexican Telephone, Canada Southern, Chicago and Eastern Illinois, Ohio Copper, and related meetings and openings.
New York June 4 Rock Island collateral 43 in fair demand. Wabash 4s and St Paul convertibles also traded, signaling uneven interest across railroad issues on a quiet session.
The season’s opening government condition report places cotton at 78.9, modestly above expectations but below last year’s 87.8 and the 10 year average of 81.5. Traders remain cautious on possible deterioration from planting prep, while a favorable weekly weather outlook supports a firm technical stance and recent bull positions have been shaken out.
State Treasurer E D Roberts of California says the sale of 1 million 4 percent India Basin bonds is postponed to July 22. Texas counties approve several bonds and cities plan road and school financings. Ohio and Conn auctions set. Canadian Northern equipment sale. Listings include Greenwich and Middleton bids, hospital and water works bonds, and stock exchange listings for utilities and railway bonds.
The copper market showed strength in London with G M B copper spot at £77 10s and futures at £78, a new 1912 high and £12 7s 6d above the 1911 peak. NY Metal Exchange quotes electrolytic at 171-8 1-4, lake 171-4 1-2, casting 155-S 7-8, with July at 16.50 17.12 1-2. tin eased around 45.38 46.25 spot and 44.25 44.50 July. lead 4.15 4.25. spelter 6.90 7.00. antimony 8.00. iron steady.
The 34th annual Manual of Statistics details leading railroad and industrial companies in the U.S. and Canada for 1912, including new stock and bond issues and firms arising from the Tobacco and Standard Oil disintegration. It covers government securities, mining stocks, and grain and cotton with 1100 pages. Published by Manual of Statistics Company in New York, price $5.
The third annual convention of the American Iron, Steel and Hardware Association opened at the Hotel Somerset with about 300 delegates from major jobbing firms and manufacturers across the states. Talks focused on Sherman anti-trust compliance and improving ties between manufacturers and jobbers. the evening featured a harbor cruise to Pemberton and a New England shore dinner.
Senator Crane is unlikely to seek re election as national committeeman. Congressman A P Gardner has strong backing from the state Republican delegation to replace the junior senator. Gardner influenced Taft's presidential primary campaign late, turning a likely defeat into a slim victory.
At the Roosevelt end Matthew Hale leads the Massachusetts Progressive League as national committee votes sit 18-18 between two leading candidates. Delegates will travel to Chicago June 15 in concert with Roosevelt and Taft camps. Democratic rivalries pit Dr. John W. Coughlin against former State Chairman John F. McDonald with Boston backing McDonald. Governor Foss supports reelecting Coughlin and urges unity beyond Boston. Democrats plan departure for Baltimore June 28 ahead of the June 25 convention opening.
President Taft secured six Ohio delegates at large to the Republican national convention by a vote of 390 to 362 at the state convention in Columbus Ohio He also won the adoption of the Majority report endorsing Taft's administration by a narrow margin.
William Barnes Jr replies to Col Roosevelt's Oyster Bay statement calling his Rochester convention principles Bourbon and reactionary. He accuses Roosevelt of seeking to subvert the Constitution and turn the party into a tool of a demented ambition, warning of despotism over the Bill of Rights.
The Taft faction filled national and alternates after the election of delegates. Theodore Roosevelt supporters hissed Warren G Harding as he urged backing Taft, while Taft defeated Roosevelt on the minority resolutions report 398½ to 359½. Roosevelt carried 51 of 88 counties. Taft 34.
More than 100 top port engineers and harbor development experts arrive from around the world as delegates from the International Association of Navigation Congresses. They will visit the Cape Cod canal Institute of Technology and Boston sights while in town and speak at the Algonquin Club banquet hosted by the Boston Chamber of Commerce City Club and Boston Local Commission.
The US collier Ajax at the coal wharf of the navy yard was damaged when the White Star liners Arabic and Canopic bumped it. The Arabic’s propeller suction moved the Ajax from its berth causing paint loss and minor damage. later the Canopic grazed the Ajax, ripping bolts from a port door. Tug Peter W. French narrowly avoided contact.
Gov Foss delays appointment to the excise commission as Chairman Baker’s term ended June 1. With no overhold, a replacement was expected at today’s council meeting, but Baltimore convention delayed decision. Chairman Maynard denies seeking the post.
The Institute of Technology held a festive Pop concert in Symphony Hall with a half spent lights moment revealing a float urging alumni to subscribe to the Alumni Fund. Seniors carried figures honoring donors while the crowd of students and attending young women cheered at the lively event.
Colonel Roosevelt denounces the Ohio delegation capture as pure political brigandage. He argues Taft and his advisers ignore the will of the people in the Republican convention fight.
Former President responds to William Barnes Jr of Albany accusing him of opposition to Root as temporary convention chair. He says Ohio voters repudiated Taft by 30,000 and decries delegates’ selection as political brigandage. He urges readers to study New York Senate committee findings on Albany governance.
Miss Mary J. Sheehan of 15 Eustis Street Cambridge, formerly a cashier at Shepard Norwell, married Bruce H. Norwell son of the firm’s junior partner, at St Peters Church parochial house Cambridge. Ceremony by Rev Dr Mark Driscoll with Elizabeth Sheehan as bridesmaid and Henry Norwell as groomsman. They will reside in Scituate after a wedding journey.
Edwin Read Olin son of the late Secretary of State Olin will marry Miss Anna Cushing Clapp of Braintree at the First Church Roxbury on June 15. Miss Clapp’s aunt C F Cushing of South Braintree will give her away. A long honeymoon precedes their return to Braintree to reside.
The Boston and Maine railroad notified Somerville that it will not pay sidewalk assessments totaling over $631 levied for improvements on Broadway Cedar and Lowell streets. The railroad says the city has no right to levy taxes on railroad property within its jurisdiction. City Treasurer Pike reports no collections have been made.
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