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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 26, 1917
Page
10
This weekly finance column answers Monday inquiries about listed and unlisted stocks and bonds across New England industries. It promises impartial data from sources, avoids market forecasts, and declines opinions on individual securities or prices.
Southern Railway was chartered in 1894 as successor to several bankrupt roads. In the year ending June 30, 1916, the available balance for common stock was 5.28 percent, the highest ever. The chief issue is its weak credit with 4 percent bonds selling at a discount. Preferred stock has sometimes been used to bolster bonds, but dividends on the preferred were not paid after 1914. With war end, cotton demand may surge and benefit Southern roads, yet no dividends are promised for the common until the preferred is fully paid, making near-term common dividends unlikely.
Newport naval station honors Rear Admiral Stephen B. Luce on his 90th birthday. He reviewed naval apprentices from his porch, who performed drill evolutions he authored and sang Nancy Lee as they passed. Officers then paid respects at the station.
More than 300 members and friends attended a preparedness meeting at the Samoset Canoe Club on the Charles River in West Roxbury. Speakers urged enlistment in the police and military training, led by Colonel Edward J. Logan, Lt Governor Calvin Coolidge, and city officials.
Strategic river points in Maine New Hampshire and eastern Massachusetts warn of tremendous floods within two to three weeks if rains or rapid temperature rise occur. Only prolonged fair weather and gradual snow melt can avert record freshets as northern New England endures unprecedented snowfall and deep cold.
About forty thousand shoe workers in the Old Colony district from Weymouth to New Bedford will gain a ten percent wage hike and a Saturday half holiday under a tentative agreement between manufacturers and union officials. Some 13,000 Brockton workers receive the raise on May 1, while negotiations suggest similar timing district wide. The move, affecting roughly 63,000 operatives, will raise production costs by nearly five million dollars as employers hire extra staff to meet demand.
In extreme northeastern Massachusetts residents feel comparatively safe but engineers warn that a warm rainy spell within a week could trigger a major flood. Along the Merrimack River southern watershed snow runs six feet deep with ice about 80 inches thick, raising fears of a freshet as severe as the 189% flood in a densely mill-centered valley.
Freight Clerks Assembly 1793 of the K of L calls on the Interstate Commerce Commission to allow railroads a freight rate increase to meet higher employee wages and the rising cost of living. The resolution was adopted at Owls Hall Charlestown and will be sent to the commission.
Salem's Reverend James Potter Franks, 73, dean of the Salem clergy and longtime rector of Grace Episcopal Church, died at his home after pneumonia. A Lewiston Pennsylvania native, he served 46 years at Grace and officiated at the 1890 wedding of Joseph Chamberlain and Mary Endicott in Washington, a ceremony attended by notable figures including former presidents Grover Cleveland and William Howard Taft.
Billy Sunday received a check for 42 204 74 in Buffalo as the city failed to eclipse its 52 500 target. Eight weeks of revival drew 1 020 440 attendees and 35 785 trail hitters. Sunday left for Winona Lake Ind accompanied only by Man Sunday after the Chicago Limited stopped to pick up Sundays.
Apprentices on daily newspapers may join as conditional members of the Boston Typo graphical Union under international law. A five year arbitration pact with Boston newspapers will be renewed. Affiliation was voted with the Medford Central Labor Union.
Two steam trawlers of the Bay State Fishing Company, held up Friday in East Boston, are once more free to sail. The action causing the tieing up of vessels that operate from Boston and Gloucester was not sanctioned by the New England Coast Fishermen's Union, according to Secretary William H. Brown.
Labor notes report unions seeking further conferences with management in Quincy House talks. Local Union 838 backs Wilson’s program and vows to support him. Waitresses' Union 112 to name delegates for June St Louis international convention. Delegates named Mia Delia Hurley Miss Bessie Irving Mrs Mae Taber Miss Mabel Murphy Miss Ida Syron. Leather Handlers' Union prepares wage scale proposals for outlets. Blacksmiths Local 105 notes low attendance due to navy yard and Watertown arsenal shifts and 8 hour law suspension with overtime time and a half. Coal Teamsters Local 68 resolutions back Wilson in crisis with Germany. Sanitary Street Cleaning Teamsters Local 149 invites Mayor Curley to address April 8 meeting after wage promises in budget. ULA committee promotes labor-friendly candidates for constitutional convention delegation.
The diocese lists parish sites for the Forty Hours devotion starting Friday March 30 at multiple churches including St. Cecilia Back Bay and St. Vincent Ipswich. Over 2000 women attended Immaculate Conception near Harrison and East Concord for rosary sermon and papal blessing. The St Joseph Roxbury mission week for men opened with rosary sermon and benediction led by Revs Turner and Conway. A Catholic Federation mass meeting is planned March 29 in St Charles Hall with Fr Maley presiding and speakers Brennan OConnor Daly. Holy Name Society retreat at St Philip’s South End begins last night and ends Palm Sunday at 7:30.
The storm death list for New Albany Indiana remained at 34, with two previously reported names removed and two more added from Edward's Hospital deaths. The update reflects revised official tallies after late Friday night's storm.
Market review notes a spring rise in industrials and copper with rails leading gains on rate hopes and labor settlements. Public participation grows as volumes top a million shares daily, with rails favored for potential further gains while industrials face profit-taking. The piece discusses long term rail vs industrial value post 1907 panic, rate increase potential, and the coming market of a trading range amid war uncertainties and possible peace rumors.
Cecil Freeman 13 Max Breau 10 and William Law 10 from Chelsea Mass ran away Friday, walked nine miles through mud to East Sullivan New Hampshire seeking Canada. They traveled from Lowell to reach the border, unsure of the purpose, and were found exhausted and hungry. Chelsea police notified their parents.
Everett mayor calls for volunteers to serve as special policemen to guard lives and property if war comes. Recruits to be chosen at City Hall on Wednesday evening as Mayor visits the State House to study protection for the city and its large industrial plants.
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