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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 14, 1920
Page
14
Readers submit questions about listed and unlisted New England stocks and bonds. The Boston Post promises impartial data from trustworthy sources but does not guarantee accuracy or predict market moves. Writers must supply full name and street address. Financial Editor Boston Post Boston Mass.
The discussion notes that early March reports of England sending gold boosted foreign exchange rates and lifted securities after a long market decline. The primary driver of the later rally remained the Supreme Court tax ruling on stock dividends, with actual British gold shipments arriving in small amounts and likely to continue gradually.
The Texon Oil and Land Company board declares a regular five per cent quarterly dividend payable July 1, 1920 to stockholders of record at close of business June 15, 1920. Nathan R. Sachb is named director.
The article argues that gold shipments to pay Anglo French bonds may only temporarily lift securities prices. The true path to a sustained bull market lies in a materially improved money market and cheaper money, with outcomes depending on prevailing market conditions.
The Sullivan Machinery Company authorized a no par value stock issue exchanging three new shares for each old share, a 200 percent stock dividend in effect. Last year earnings supported a substantial stock dividend, with 1919 per share value at $2.50 compared to $23.44 in 1918, and Claremont plant expansion of 22 000 square feet. The firm, formed 1913, operates diamond core drills coal cutters air compressors and hoisting engines with plants in Chicago and Claremont New Hampshire and offices in major cities and Europe. Current dividend rate is 6 percent plus two extra 1 percent dividends. past years saw total 10 percent dividends in 1929 and 1918, with ongoing annual dividends since 1914.
The week saw very small trading with prices generally rising. Industrials rebounded about six points from April May lows, suggesting a continued but limited advance of four to five points, possibly ten to fifteen in leaders. Politics are deemed not to drive the market, which follows money and trade conditions, with bear markets common after declines. The 1920 market enters a seven month bear phase. crop prospects and money conditions dominate. The Federal Reserve’s reserve ratio hovers around 42–43 percent. a fall below the legal minimum may occur to meet crop demand, but this would not spark a bull run. Only minor recoveries are expected through next winter.
Answers analyze Cosden & Co earnings and par value changes for common and no par stock, noting high earnings but low market prices due to $5 par value. Alaska Gold details: history since 1915, fluctuating share prices, no dividends, high production costs, and ongoing losses with potential for legislative relief. claims near Juneau totaling 2166 acres and 1920 first quarter loss of 81,617.
Financial editors note copper majors have not boosted output. Utah and China run near capacity with May yields below potential. With copper near 18 to 19 cents there is little incentive to expand, while railroad earnings and bond yields suggest mispriced value. Taxes loom with second quarterly income tax payments due, worsening trader and business distress.
The International Woman Suffrage Alliance Congress in Geneva accepted an invitation to meet in Paris in 1922, contingent on French women not having secured suffrage within the year before the congress, aligning with a venue where women are not enfranchised.
Special sermons for children and baptisms marked Children’s Day as Sunday schools held exercises in Greater Boston churches. Morning services focused on the children with additional events in the evening at many houses of worship.
In a survey of national politics, Ohio Governor Cox is urged by Democratic leaders as a counter to Republican momentum led by Senator Harding. Palmer is criticized for improprieties, while McAdoo emerges as a viable alternative. The piece notes intra-party doubts about Wilson and outlines Republican strategy including Coolidge’s rising appeal and Larsh shifts. It highlights Irish and Volstead act debates shaping the fall campaign.
Miss Adaline Lurio of Simmons College announces engagement to Max Slutzki of Boston. Lurio is class of 1920 at Simmons and will graduate today. Slutzki is a Harvard man.
A Pop concert at Symphony Hall tonight serves as a public event honoring the New England Conservatory of Music. The program features Wagner Overture and Othello arrangements, Mendelssohn female chorus, Saint-Saens chorus, A Midsummer Night's Dream scenes, Puccini Madama Butterfly, American Idyl, Indian Summer, and Ride of the Valkyries with George Wadwick conducting.
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