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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Jun 26, 1917
Page
12
New England residents contributed nearly one million subscribers to Liberty Bonds totaling 332 million dollars. The regional quota stood at 240 million with a hope of 300 million. actual subscriptions exceeded the quota by 38 percent.
Current prices show varied loan rates from brokers and customers with six percent on many call loans and commercial loans. The Federal Reserve Bank reports rates for paper maturing up to 90 days and notes secured by Liberty Loan bonds, while foreign exchange in New York shows firmer rates for roubles and francs with dollars around 4.75 to 4.76 for sterling and other minor currencies.
The bond market report from New York on June 25 shows prices for new United States bonds in units and fiftieths. It lists issues including Atlantic and Baltimore & Ohio, Bethlehem Steel, and rig 5s with 44s indicating subjointed fiftieths.
Spot closed quiet, 55 points lower, middling uplands at 26.60 cents. No sales. Stock 85,563 bales. Netport receipts 15,659 bales. Exports to Great Britain 1,554. France 10,950. the Continent 1,999. total 21,483 bales. Stocks in all U S ports 769,635 bales.
The Red Cross vows to protect life during emergencies emphasizing the value of each American life and the aim to save thousands through rescue and relief efforts.
Irregulars lead gains in rails, crucible and car foundry shares while motors and several specialties show strength. Sinclair Oil lags with a weak showing amid mixed market signals and a firmer local list features.
Total sales in New York 857 400 shares and Boston 8340 shares top yesterday trading. Allis Chalmers rose 3 ½ to 31 ½ in New York while Sinclair Oil fell 4 1/4 to 43 3/4. In Boston General Electric gained 3 3/4 to 161 1/8 and Warren Bros Ist pref slipped 1 1/4 to 63 1/4. Year to date New York 104 445 900 shares and Boston 3 571 193 shares. Corresponding year ago New York 84 042 496 and Boston 7 249 962.
Trading was varied with money rates firm and call loans at 6 percent. Equities led by rails and transport issues edged higher while United States and Bethlehem Steel faced declines. Total volume 835,000 shares and bond activity uneven as British gold inflows continued.
Boston trading stays lethargic with only small volume. Leading companies move to the New York Exchange for broader market access. Massachusetts Gas eyeing a 7 percent basis at Thursday's directors meeting amid speculation of increased or extra dividends. Copper prices hover with bids from 16 2 3 to 30 cents as miners await government fixing. Massachusetts Electric may gain life if a six cent fare for six months is allowed, staving off bankruptcy concerns.
James H. Vahey of Boston told the Public Service Commission that the Middlesex and Boston Street Railway Company is efficiently managed and deserves financial relief. He spoke at a hearing on the company’s fare increase petitions from six to seven cents in Waltham and six to eight cents elsewhere. A Natick petitioner opposed the raise, signing by about 6% residents.
James J. Phelan resigns from the International Trust Company board due to Clayton act concerns but keeps his stock stake. William J. McGaffee is named to succeed him on the directorate.
Quote urges immediate support as the Red Cross calls for volunteers and supplies to prevent further loss of life amid ongoing danger for soldiers and civilians.
The water front calendar for June 286 marks the 1061st day of war in Europe as the US enters its second year. At South Boston Fish Pier the fleet delivered 14 groundfish trawlers 9 mackerel seiners and one tilefish catch including the Rose M Standish with 16 000 pounds plus three swordfish. Other mackerel boats reported 58 000 pounds fresh 2 barrels salted on the Veda McKown Harvard Squanto 46.0 pounds fresh 20 000 pounds fresh 10 barrels salted Mary F Curtig Good Luck each 20 000 pounds fresh Corsair 14 000 pounds fresh Saladin 10 000 pounds fresh Willarney 12 000 pounds fresh Sylvester 1 400 pounds fresh, plus 189 000 pounds of scrod 150 pounds of sole 100 pounds of cask and 190% pounds of halibut. Grace M Cribby brought 74 pounds of live lobsters. Trawlers and fares listed.
The market sees gains in steel and wholesale war stocks led by Crucible Steel, American Car & Foundry, and Allis-Chalmers, while copper weakens on oversupply rumors. Rails await rate decisions, money markets stay tight, and optimism grows that rate relief may follow the upcoming semiannual disbursements. Henry G. Bradlee notes utility sector pressure from labor and material shortages, capped by limited capital for growth.
Captain Henry S Chase has been appointed master of the steam yacht Stalia now in government service, loaned as a submarine chaser by Henry Ford. He will hold the rank of lieutenant commander and will serve in a new berth. The note also mentions Chase becoming executive officer of the Prinz Eitel Friedrich after German liners were interned. A United Fruit steamer arrived with 34 000 banana bunches, 227 boxes of oranges, and 173 sacks of coffee, the first of three tropical cargos destined for the July Fourth trade.
Brockton June 25 The Bay State Street Railway Company plans to operate two of the new one man type cars here within two weeks.
An assertive wartime message urges support for the war effort urging financial contributions to back U S military actions. It emphasizes sacrifice by soldiers and medical personnel while declaring national victory as the ultimate aim.
Annapolis Md June 95 The Naval Academy named the top graduates who will enter active service after Thursday. First honors went to Joseph W Paige of West Newton Massachusetts followed by Forest P Sherman Melrose Massachusetts William K Nichols Yuma Arizona Ernest B Col ton Douglas Arizona Joseph W Fowler Monmouth Missouri William H Hopkins Jr Cincinnati Ohio and William J Malone Kansas City Missouri.
Colonel Edward M. Lewis of the U S Army, after two years as inspector and instructor of the Illinois National Guard and chief mustering officer for Illinois troops in Cary, is ordered to Boston for duty with the Massachusetts National Guard.
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