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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 05, 1917
Page
13
Prices rose on the week despite a fragile market. Leaders like Steel common and Anaconda reached new highs, lifting bulls with a potential spring advance. The market ignored global tension as it held near recovery highs from February and considered further gains into spring amid mixed short term risk.
The market rose after Germany announced its new submarine policy and as war seemed likely. Investors, buoyed by prepared sentiment and continued demand for steel, copper, and other materials, pushed prices higher despite geopolitical tensions.
Readers are promised impartial responses to inquiries about listed and unlisted stocks and bonds of New England industrial, public utility, bank and mill companies. The column may also cover other securities and topics when feasible. The Post does not guarantee accuracy, nor give market forecasts, and requires inquirers to provide full name and address to receive replies.
Pp. J. T. Quincy asks for an opinion regarding United Light & Railways Company first and refunding 5s and the American Telephone collateral trust 5s. The request appears in a 1910s style financial inquiry column.
The United Light & Railways Company bonds are secured by first liens on gas and electric properties and by subsidiary securities, with a sinking fund to redeem callable bonds and conservative issuance limits. Mexican Petroleum, a holding company with volatile market pricing, is not a high grade investment though potential production growth could raise value. recent earnings and dividend history show instability.
The preferred stock remains a strong industrial investment with a 6 percent cumulative dividend paid regularly since inception and earnings well above requirements. Common dividends began in 1912 at 2 percent, rising to 4 percent in subsequent years and 5 percent in 1916, a year of record performance where the preferred dividend was earned threefold. The firm has shifted from heavy borrowing to self-financing, aided by vast phosphate deposits expected to last a century, and aggressive write‑offs on phosphate lands reflect liberal accounting.
Chevrolet Motor Company reports earnings for year ending December 31, 1916, showing a net income of 7 095.0 percent and total surplus of 31,123,274 after additions of 22,374,517 from stock acquisitions and 234,117 from other items. Current assets reach 79,434,709 with working liabilities of 1,833,141, including 65,648,300 shares of General Motors stock valued at market.
A blaze on Woodward avenue in downtown Detroit claimed five firefighters' lives and left three others injured. The collapse of a lower floor trapped crew beneath timber and twisted steel while Captain Alex Cockburn directed rescue from his perch for an hour before dying.
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