Wallace Fairbank Named Director of Tennessee Copper Company
Wallace Fairbank has been chosen a director of the Tennessee Copper Company, succeeding T. M. Applegarth, who resigned.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 06, 1914
Page
16
Wallace Fairbank has been chosen a director of the Tennessee Copper Company, succeeding T. M. Applegarth, who resigned.
A series of companies announce quarterly dividends with payment dates in April and record dates in March. Institutions include Waltham Trust 134 percent annualized, American Pipe and Construction 1 percent, American Snuff 1.12 percent on preferred and 3 percent on common, Central Trust Cambridge 2.5 percent, Chicago City Railway 2.5 percent, Consolidated Gas Electric 11.2 percent on common, and Montgomery Ward 13.4 percent on preferred, among others. Books close dates vary from March 5 to March 25 with reopenings through April 2.
The notice announces a quarterly dividend on Paso Electric Company stock payable through any bank or the bond department of The Trust. It references COMMON DIVIDEND No 1 and cites Low Treas and transfer agents in connection with stockholders.
Shares fall 8 points to 58 14 as news of a 33 million dollar note issue is announced. Bethlehem Steel G M and New Haven show strength while local market activity remains dull with irregular price moves.
Yesterday's market totals show New York sales at 336 300 and Boston at 20 817 shares with Steel the most active in New York at 57 300 and New Arcadian top in Boston at 3935. Year to date figures through Jan 1 1914 place New York at 17 440 700 shares and Boston at 1 254 724 with last year comparisons. Notable gains include B F Goodrich pfd in New York and Ahmeek Mining in Boston while Chesapeake & Ohio and Wolverine Mining posted losses. Call money rose in New York to 17 8 percent and time money to 4 1 2 percent in New York and 4 3 4 percent in Boston.
New York market closed with broad declines, railroads hardest hit after Chesapeake and Ohio issued 38 million dollars of 5 percent notes set to cover five years of improvements. The move pressured dividends and spurred selling. New Haven showed late strength while copper shares fell on weak trade signals.
Trading in local stocks was moderate with irregular price movements. New Arcadian rose to 51-16 its highest in two years while Arizona Commercial saw profit-taking after recent gains. Copper quotes at 1418 cents unsettled sentiment, and Telephone, New Haven, and Western Union rights stood out in activity. Bond trading broadened with strong prices in Telephone old fours and the convertible 41-2s.
The foreign exchange market remained firm with late trading showing Sterling at 4.8615 dollars, 4.8590 for demand, and 60 day at 4.8360. Commercial bills quoted at 4.8234, francs at 5.164, marks at 0.9516, guilders at 0.9840, reflecting a 4.53 percent base rate and minor adjustments.
The Chesapeake & Ohio announced the sale of 39 million dollars of five percent secured gold notes due June 1 1919 out of a 40 million dollar authorized issue. Proceeds totaling about 28.93 million will fund maturing obligations. The notes secure first lien bonds dated December 1 1910 and redeemable at company option with notice.
Market notes show steel and Amalgamated steady amid bearish sugar and railroad headlines. New Haven trims losses, GM hits a new high, Bethlehem Steel and Sears Roebuck show strength while small producers liquidate to meet working capital needs amid Sherman antitrust concerns. Baltimore and Ohio slips as dividend fears surface.
Chesapeake & Ohio announces a $33 million five year note issue at 5 percent. The move, seen as short financing, unsettles markets and threatens the 4 percent dividend. $17 million must fund five year improvements, with $28.9 million refunding maturing obligations. Copper prices slip while Wall Street questions railroad dividend sustainability.
Copper on the New York Metal Exchange stayed unsettled with spot and April at 13.50 14.00 and electrolytic around 14.87 14.50. Tin remained steady with spot near 37.95 and June futures at 98.95 38.60. Lead stayed quiet around 3.95 4.05 and antimony quoted at 7.25 in Cookson's markets. Iron remained quiet and unchanged.
A bondholders committee for the Collateral Trust Four Per Cent. Gold Bonds of 1902 Chicago Rock Island & Pacific Railroad Co. plans a protective agreement to safeguard rights as the railroad delays dividends. Deposits encouraged at Central Trust Co. of New York with bonds to be listed on the New York Stock Exchange.
Washington March 5 law expert wanted by president with aim to hire the best authority in international law and the finest lawyer for counsellor and solicitor posts in the State Department. White House says efficiency and nonpartisanship trump politics in these key appointments.
The president seeks an international law expert with broad diplomatic training to replace John Bassett Moore as counsellor. W. W. Rockhill, ex ambassador to Turkey and Russia, and Henry White, ex ambassador to France, are among names discussed along with William Bayard Hale and John Lind. Congress may soon recommend for both the counsellor and solicitor posts.
Mrs John L Gardner mourns the loss of a prize collie that disappeared Sunday night from Fenway Court. Rolley returned home Wednesday wet and muddy. Foxey remains missing.
Announcement yesterday lists soloists for Jackson College operetta In Gilbert and Sullivan's Land. Nanki Poo will be played by Miss FR Hazel Fallis with a cast including Miss Pauline Moyer Miss Edith B K Cochran Miss Dorothy T Hloughton Miss Anna C Knight Miss Marion Jameson Miss Josephine Corcoran and Miss Ruth Burbank among others.
Seavey of Tufts College and Miss Hazel Macey of Somerville are named as current leads in the assignment of parts for a stage production. The selection of minor characters will be decided later.
The 21st annual New England Hardware Dealers’ Association convention at Horticultural Hall closed with unanimous support for a resolution condemning war and backing Dr. Eliot’s proposal for an international police to aid world peace. The gathering from across New England adopted numerous public-issue resolutions, honored officers, and heard talks from Boston Chamber of Commerce president J Randolph Coolidge Jr and other leaders on labor mobility and economic cooperation.
The Ballot Law Commission seated at Cambridge last night declared Arthur F. Blanchard the legally nominated Progressive candidate for Mayo after refusing to overturn Cambridge registrars of voters decisions at municipal primaries. Attorney Harry S. A. Dolan said he would appeal to the Supreme Court, risking a postponement of the city election set for Tuesday next.
The Sunday Post reveals prize winners for its cooking and helps contests, with top honors awarded to standout entries in each category. Winners receive certificates and household prizes, while runners up gain recognition in the next issue.
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