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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 18, 1912
Page
17
Attorney General Wickersham announced the federal Department will suspend its civil suit against the National Packing Company in light of the beef packers plans to dissolve voluntarily by August 1. The government will hold the action in abeyance pending the dissolution.
Grain prices moved up 1 2 to 3 4 cents on covering amid heavy rains in Oklahoma and the Southwest where harvesting is active. Weather forecasts for clearing conditions spurred further advances while Snow's crop estimates suggested damage in hard winter wheat. Northwest reports were steady and world exports remained heavy with a decline afloat for Europe.
Market notes show prices and advances on fur items in Philadelphia with percentages on various stocks and a focus on utilities and gas interests. Mentions include Philadelphia Electric and Philadelphia Gas, plus tract percentages and a general market outlook.
Total sales in New York reach 146300 shares with 11467 in Boston. Readings show Reading leading New York activity at 29700 shares and Butte & Superior at 1937 in Boston. Year to date NY and Boston totals and yearly comparisons are listed with gains and losses in Colorado F L Calumet Wolverine Mining, Liggett & Meyer. Call money and time money rates shown for NY and Boston.
New York June 17 stock market shows record low volume for the year with dull trading from opening to close. News from Chicago and upcoming conventions dampen activity while tobacco issues buck the trend. Freight movements improve in the West as grain receipts ease in the Midwest, and readings on Reading, Union Pacific, and United States Steel provide the day’s strongest speculative lift. Two dividend notices catch attention as Colorado Fuel & Iron resumes preferred payments and a Montana copper firm hikes its quarterly payout. Bond market shows a Wabash 4s gain. total legals near 2.1 million dollars.
The Boston Market reports light activity with 11 467 shares traded and 16 000 in bonds as governors vote to keep normal operations. Butte & Superior, North Butte and Steel common led volume with gains on United Fruit rising to 200 a share as a standout. G A Lauzier hails Butte & Superior as a major zinc mine advancement in the camp.
Yesterday's curb market focused on Houghton Copper with price moving from 6 to 6 amid light trading. Reports of a sensational strike at the property sparked the uptick though details remained unavailable. Lion Hill Consolidated, Laramie and Verde Extension also attracted interest with notable fluctuations.
Money markets remain easy with solid demand for commercial paper. Anticipated July disbursements may harden rates briefly before a return to easier conditions. New York call money at 27 8 percent. time funds range 3 ½ to 4 percent for various terms. current exchange quotes listed. Renewed trading spotlights Wabash 4s amid overall market strength. Cobalt mine shipments show Nipissing leading with 441 tons. other shippers include McKinley Darragh and Cobalt Townsite firms.
New York Metal Exchange reports subdued activity with copper rising modestly for August and September. Spot prices for tin lead and spelter show firming ranges and London closes list copper at £79 spot with futures and tin at £207 10s spot.
The statement compares the current weekly local bank figures with the previous week and shows the surplus reserve for the same period over the past ten years in Boston and New York.
State Street Topics notes Lauzier of National Mining and Investment in Butte lauding Butte and Superior value with 3,000,000 tons of ore at potential $15,000,000, while bonds rise in value via conversion. North Butte raises dividends, Paul Revere Trust changes directorate, and 1912 iron ore and coke production is forecast to hit record highs.
Langley and Co open Magnolia branch. Charles E. Mill named general manager of Inspiration Consolidated, to take charge in July. A call for the condition of national banks and trust firms in the state is expected soon. Developments on the 2600 and 2800 foot levels of North Butte are not yet clear.
Temporary 300 000 loan awarded in Pawtucket to Curtis & Sanger at 3.65 discount maturing Oct. 18. Lima Locomotive sold 2 000 000 first mortgage 6 percent gold bonds callable at 110. Montgomery Light & Traction sold 650 000 six percent notes to Guaranty Trust. Northern States Power sold 5 000 000 five year 6 percent collateral notes with Consumers Power guaranteeing. Bethlehem Steel 58 000 five year 6 percent notes called at 102.5. Marblehead bids due June 20 for 30 000 four percent water bonds. Worcester bids due June 19 for 184 000 three and a half percent and 190 000 four percent bonds. Proceeds allocated to water, streets, and sewer projects in several towns.
The cotton market opened firm yesterday aided by favorable overseas reports and Liverpool cables on demand for spot. Prices rose about 9 points from Saturday’s close, with good spot support and clear evidence of liquidation later in the session.
The offer highlights essential safety features for investors with preferences for dividends and assets. It emphasizes safeguards against principal impairment, a ready stable market, and large collateral value to assure returns.
A roundup of quarterly dividend declarations from North Butte Mining Beaver Consolidated Mines M Rumley Co Eastern Michigan Edison Canadian Rubber Laurentide Colorado Fuel & Iron Bell Telephone Philadelphia Co Il Paso Consolidated Gold Mining Kansas City Southern. Payments range from 1 percent to 184 percent on various common and preferred stocks with record dates in June and July and payment dates through July 20.
At a Board meeting the Copper Range Consolidated Company declares a dividend of 50 cents per share No. 34 payable July 1 1912 to stockholders of record June 8 1912 Frederic Stanwood treasurer Boston June 38 1912
The New England Telephone and Telegraph Company announces a cash dividend of $1.75 per share. It will be paid on Saturday, June 29, 1912 to stockholders of record as of the close of business on Saturday, June 15, 1912. Treasurer William R. Driver signs the notice dated June 13, 1912.
Small denomination bonds have long thrived in Europe especially France where thrifty peasants favor them, reducing the need for savings banks. In America bonds under 560 dollars have mixed appeal though several firms have promoted them. Experts differ on readiness for wide American adoption, but many expect eventual general use. A Boston Post financial page tomorrow will feature a special article on this topic.
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