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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 20, 1922
Page
12
The market posted upper-level gains as the week opened with a firm general tone. Industrial stocks hit a new high average while copper and rail shares showed strength, and dividends shifted for several major firms amid mixed signals on future economic activity.
The article argues for advancing positions in view of an improving business outlook. It notes strong market momentum, with doubts from some about a possible pullback, but maintains the main trend points to sustained gains barring unforeseen financial developments. It also mentions several good stocks yet to participate in the rise.
Pressed Steel Car reported 1921 earnings after taxes and depreciation of $681,906 or $5.45 a share on 7 percent preferred, with no common dividends since June 8, 1921. The balance sheet showed strong liquidity and a large inventory reduction, and the company expects improved orders in the current year aided by acquisitions in its group.
Inquiry asks if 7 percent gold bonds constitute a mortgage on property and seeks total funded debt. Answer explains bonds are high grade, not mortgaged, with $30 million 7 percent gold bonds due 1931. Total funded debt $36,335,000, including real estate mortgages and various first mortgage bonds.
Readers contend Prohibition is permanent and accuse moonshine drinkers and saloon profits of harm. A second letter from George Gunn of Belmont argues the law stabilizes work and secures families, boosting sober citizens.
Letters from Concord New Hampshire Medford Massachusetts and Everett Massachusetts condemn the 18th Amendment and Volstead Act. Writers urge nationwide prohibition end and critique liquor traffic moonshine bootlegging and police corruption while defending personal liberties and free choice.
The passage rejects the drive to license beer sales as part of amendment modification. It argues beer is pitched as a light beverage unlikely to cause drunkenness, countering that the licensing stance misleads the public.
After plan operative, a 10 percent cash payment will be made on deposited Debentures. Certificates of Deposit are surrendered and stamped to show the payment, with the remaining 90 percent extended to April 1 1935. New coupon sheets at seven percent will be attached to the Debentures.
C. E. Moody of Natick contends that permitting beer sales would defeat prohibitions and worsen intoxication. He cites the New York Brewers’ Association claim that beer is mostly water and hops, with 3 percent alcohol, arguing even light beer increases consumption and drunken behavior.
The piece argues against heavy motor vehicle taxation and for equal treatment of autos with other property. It notes existing taxes registration fees driver licenses and insurance, and cautions against discriminating against commercial trucks while praising their public benefits and road role.
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