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This newspaper page contains 12 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 26, 1912
Page
14
An editor notes a near term liquidation plan for Old Dominion trust assets, with pro rata distributions possibly by year end. Despite a $2 million asset base, market prices hover near $6, well below projected per share values of $10 to $12, amid long wait for final dividends and ongoing management disputes.
Securities deposited with New England Trust will likely yield over 2 million in cash. That cash belongs to Old Dominion Copper Mining & Smelting Company and may be paid as a dividend to its stockholders. The Old Dominion Company of Maine, the largest holder, agreed to pass any such dividend to trustees for assenting stockholders, forming a deferred dividend on the 1904 record. The counsel says no legal obstacle to final distribution as planned.
Anaconda maintains 50 cent quarterly dividend keeping a $2 annual rate. Wabash plans a heavy $40 per share assessment. Atchison May results show record earnings potential. Transatlantic travel and British consols actions reflect ongoing market tensions amid European financial strain and German gold flows.
Calendar notes dividends payable at Central R A of New Jersey and Homestake Mneg books open. Lists Isle Royale East Iron P and Freeport and Dry goods meetings for dividend dates and related financial notices.
Declines in prices noted yesterday with total sales in New York 221,600 shares and Boston 33,467. Most active issues were Reading in New York at 43,500 shares and Butte & Superior in Boston at 6,615. Year to date totals show New York 68,590,400 and Boston 6,714,963 shares. Compared to last year New York up to 50,672,400 and Boston up to 3,396,198. Notable gains and losses include Lorillard in New York rising to 234 from 190 and Calumet & Hecla in Boston dropping to 3 from 530. Call money and time money figures are given for New York and Boston.
New York stock notes report little change from yesterday as prices dip in morning trading and rally fades. Copper shares stay pressured amid speculative trading abroad, while Berlin selling weighs on US issues. Atchison earnings rise, Southern Railway gains, Anaconda Copper dividend discussed, and bond activity remains uneven.
Ex-dividend update notes 18 230 listed shares 15 237 unlisted shares and 33 000 in bonds with 2 299 fractions. No further context or entities provided.
Boston traders opened with unease over London copper declines, noting a 1-2 cent drop despite a 50 percent year‑ear price rise. Butte & Superior slid to 45 3 4, while United States Smelters and related shares saw heavy trading and gains by management‑close buyers.
The report shows averages over the last thirty days with currency and specie at 9.18 percent, deposits in reserve banks at 8.57 percent, and United States and Massachusetts bonds at 2.53 percent.
Suffolk June 25 1912. Samuel A Merrill Treasurer James W Kenney Vice President Albion F Bemis William J Emerson Theo G Bremer and Hiram M Burton directors made oath that the foregoing statement is true to the best of their knowledge and belief before James E Farrell Notary Public
New York Metal Exchange saw dull trading with prices broadly unchanged. Copper held a firm tone amid general copper market unsettledness, tin showed the only notable sentiment shift. London closed with copper at £77 2s 6d spot and futures £78, lead £18, spelter £25 10s, tin spot £207 10s with futures £198.
The United States Smelting Refining and Mining Company declares a quarterly dividend of 1% on Preferred Capital Stock and 1% on Common Capital Stock payable July 15, 1912 to stockholders of record June 29, 1912. Edison Electric announces a 3% quarterly dividend payable August 1, 1912 to stockholders of record July 15, 1912.
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