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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 03, 1911
Page
14
Recent editorial notes the bank fights the trend toward consolidation of Boston banks into a few large institutions. It claims Mutual National Bank maintains an independent stance amid the narrowing field and invites public attention to its distinct position and leadership.
Total sales in New York reached 674 700 shares and Boston 23 412. The Steel common was most active in New York at 148 400 and in Boston at 4 357. From Jan 1 1911 to date New York sold 20 475 800 shares and Boston 1 140 207. Compared with last year New York sold 41 537 900 and Boston 3 290 918. Notable gains include Dupont Powder pref in New York from 1 2 to 841 2 and American Woolen com in Boston from 11 8 to 34. Major losses were Westinghouse in New York from 33 4 to 671 8 and Chicago Junction in Boston from 3 to 158. Call money in New York 2344 percent and Boston 3 percent. Time money in New York 23 4 to 41 4 percent and Boston 31 2 to 4 1 2 percent.
The market fell sharply with stocks from American Smelters to United States Steel common dropping 23 to 35 points. Traders cite tariff revision as a bear factor, though sentiment and potential consumer buying power loom large. Steel and related issues led losses while overall activity remained light and prices trended lower.
The local market yesterday showed moderate activity with 23 412 items listed and unlisted. Traders noted steady turnover though exact values were not disclosed.
Local money rates and foreign exchange quotations are presented in this listing. The table covers buy and sell figures for common currencies and indicates prevailing market levels. Investors and merchants consult the sheet for handling conversions and pricing decisions.
Reports from Houghton describe New Baltic sinking to greater depths after stopping crosscuts at the 200 foot level. The ore area shows disturbed rock but a 500 foot depth is attainable with the current plant.
The Boston Market reports stock and bond price trends for the day. It lists total sales and compares current close to the previous close, detailing market movements and liquidity across major issues. The notes reflect overall sentiment and daily volatility in the financial markets.
Yesterday’s curb market showed little action with Ely Consolidated trading in the forenoon and Nevada Utah in the afternoon as the only notable spots. Amalgamated Nevada and Majestic slipped slightly while curb issues outperformed larger exchanges. Full fluctuations of the curb list are detailed.
Lowell Mass bids due by 10 a m March 6 on a loan of 200000 dollars. The Railroad Commission has approved a 696000 dollar additional 50 year bond issue.
Directors propose merging Seneca Mining Ahmeek Allouez Osceola Centennial Tamarack Laurium La Salle Superior into a new consolidated company with stock exchange ratios ranging from 6 000 to 40 000 existing shares for one new share. Total new stock 328 568 excluding Gratiot and Isle Royale. Proxies requested, rights may be deposited in blocks with Old Colony Trust. Info at Boston or Calumet offices. Secretary George A Flagg.
Portland Me March 8 bids due at 10 a m for 500000 four per cent water bonds dated December 1 1908 and maturing in 1928 issued by the Boston and Northern Street Railway Company at 4 per cent mortgage bonds.
More than 100 Jews filled Room 240 at the State House to oppose a bill abolishing the Jewish method of slaughter. The hearing featured Jacob de Finas and Rabbi M. M. Eichler arguing the humane nature of shechita, with testimony from doctors and merchants supporting humane slaughter. The committee did not report the measure, as supporters failed to prove their case.
A three way clash centered on whether cattle should be stunned before slaughter. The M. B. C. P. A. led by Dr Francis H Rowley urged humane treatment and accused the American Humane Society of endorsing inhumane practices. Beef packers defended their methods.
A list of dividends declared by Swift & Co and other firms including St Joseph, South Bend & Southern R R Co and United Verde Copper Co. Details cover rates, payment periods, and book-closing dates such as Swift & Co 13 4 per cent with March 11 record, United Verde Copper Co 75 cents monthly, and National Sugar Refining 1 1-2 per cent preferred with March 20 record.
Exchange calendar item notes ex dividend status for New York Chicago and St Louis, common stock and first preferred shares, with price movement hints and record dates. Skimmed text shows a brief note on dividend-related action and listings.
Special Agent Frederick P. Schmidt probes Charlestown navy yard losses. Edward W. Davis an inspector in engineering materials is arrested by U S Deputy Marshal James Ruhl for embezzling about 200 dollars in government property including a comptometer an inside chronometer and railroad mileage books found in pawn shops. Davis lived in Wollaston with wife and child and earned a daily salary.
Residents of Stoneham and Wakefield near the Melrose line advocate annexing a two mile by quarter mile stretch to Melrose. Backers frequent Melrose facilities, vote in their home towns, and pay taxes there, though their interests center on Melrose.
Worcester March 2 William A. Smith celebrated his 87th birthday with a banquet hosted by business friends. He is the oldest Worcester Harvard graduate, the oldest member of the Worcester County Bar Association, and the oldest Mason in Worcester. He also serves as clerk and treasurer of the Worcester County Mechanics Association a post he has held for over 40 years.
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