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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 06, 1917
Page
19
Yesterday's market totals show New York sales at 863,900 and Boston at 39,512. In New York Bethlehem Steel rose to 140 while Maxwell Motor dipped to 56 3/4. In Boston N. E. Cotton Yarn advanced to 85 and Nipe Bay slipped to 135.
March 6 New York market extended its upswing with broad trading led by United States Steel and Bethlehem Steel after Congress delay on administration measures. Oil, sugar, motors, and copper shares also advanced while rails lagged. total volume 860,000 shares and par value sales at 1.785 million.
Trading on the local board rose with strength seen in New York as big issues such as Anaconda Chino Utah Copper and Inspiration attracted attention though local copper stocks lagged. Steel common saw heavy block trades while Atlantic Gulf Fruit dipped on news of a failed merchant marine bill. United States Smelting advanced past 60 while Butter & Superior firmed. Bingham Mines on the curb rose above 10 from 73-4 a month ago.
The Bond Market in New York on March 5 showed steady but dull activity with listed issues including 1 10-Freenh 66 and various corporate and utility bonds. Total sales reached 1,945,000 dollars, compared with 1,923,000 on Saturday and higher weekly totals, while year‑to‑date sales stood at 213,427,000 dollars.
J and W Seligman Co announce purchase and resale of 10 million dollars in 8 percent cumulative preferred stock of Pierce Arrow Motor Car Co. preferred on assets and dividends, redeemable on any dividend date with 60 days notice, at 125 plus accrued. Company has no mortgage debt. Preferred convertible to common. Pierce Arrow assets totaled 15.573 million with 11.09 million networking assets. Last year, preferred dividend earned five times over. Warren Brothers issues 1 million in 6 percent first mortgage collateral trust gold bonds to consolidate remaining notes and short-term paper. Nassau Light and Power 1916 net earnings were 230,909, six times interest. Ajax mine development funding via 15-cent stock assessment on Mexican Metals shareholders reported March 6.
Salem March 5 Two plump Rhode Island Red hens cost Wesley Merrill and Warren Merrill of Danvers $50 today before Judge Sears charged with larceny The hens were the property of George M Potter of Ash street Danvers and Danvers police testified the birds came illegally into the Merrills possession
The market saw the heaviest day’s business in a month with a broad upturn led by Steel common amid hopes arms and supply bills will pass. Rail and copper shares gained, rail executives note strong profits from 1916 while Midvale Steel reports 16.10 earned per share and strong working capital. United States Worsted also shows 1916 profits of 1,005,000 with cautious dividend outlook.
An adverse report was filed by the Committee on Metropolitan Affairs on Mayor Curley’s petition to amend Boston building laws. The proposal would limit building height to twice street width, down from two and a half times the width under existing law.
Citizens at the annual town meeting unanimously adopt resolutions endorsing President Wilson for protecting lives and property at sea and upholding the U S right to conduct commerce unmolested. The resolutions are forwarded to the president.
Vernon Cutting, 22 years old, a groundman for Suburban Gas and Electric, was walking home along the tracks near Franklin avenue in Revere when he was struck and killed by a Boston and Maine train bound for Lynn. He resided at 635 Beach Street, Revere.
William Henry Beaton baggage master at Newton Highlands railroad station was arrested by U S Deputy Marshal Bradley and charged with embezzling a parcel post package containing 0 pounds of butter. The package traveling from Newton Highlands to Needham disappeared. Pending a March 9 hearing, Beaton was released on his own recognizance.
Auction of all unredeemed pledges of Puritan Loan Co now at 58 Cornhill to be sold at public auction on premises Wednesday, May 23, 10 a m. Isaac Rich, Auctioneer.
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