Stock Prices React On Market Earnings
Boston Market falls as Calumet and Hecla announces closure plans while Copper Range and U S Smelting post mixed signals. Wool demand improves, lifting textile shares amid cautious trading.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Mar 31, 1921
Page
12
Boston Market falls as Calumet and Hecla announces closure plans while Copper Range and U S Smelting post mixed signals. Wool demand improves, lifting textile shares amid cautious trading.
Yesterday’s trading reflected renewed pressure on high finance issues as rumors of new financing and dividend revisions weighed on leaders like International Harvester American Hide leather and Mexican Petroleum. New York and Boston activity showed large totals with American Telephone and other large names trading amid rate rises and a market-wide pullback.
The report lists 1920 and 1921 results for multiple companies. American Glue Company shows 1920 net income of 1 057 445 with 670 445 after taxes and 15.35 per share on 43 676 common shares. Haskell & Barker Car Company posts 1920 13.68 a share on 220 000 shares. Illinois Central reports February gross 12 518 240 and net 1 713 791. May Department Stores 1921 shows 19.71 a share on 20 000 000 common. Pressed Steel Car stockholders approve stock increase and 2 percent dividend. Directors add Joseph W. Powell to American Trust. Ferdinand M. Holmes resigns from Old Colony Trust to become Everett Trust president after 23 years.
The market shows brokers loans at seven percent on outside brokers and seven to eight percent on year money. Commercial loans yield seven percent. Clearinghouse notes Boston and New York exchanges with figures for call money and bank credit. Late afternoon foreign exchange quotes compare current levels with yesterday and a year ago, mainly in cents per unit, with sterling as an exception.
Financial editor notes a single day of gains followed by declines in specialties and rails, with overall market movement narrow and traders whipped by volatility. Cites sentiment that few buy at bottoms, discusses foreign exchange steadiness and a banker’s view on disarmament and a potential Russian government stability.
The text notes dwindling coal and oil supplies push toward hydro electric power and urges investors to consider water power companies. It mentions a circular describing securities and properties of major continental water power firms and offers copies from Spencer Trask & Co at 50 Congress St Boston and Main 8200 in New York.
Comprehensive price list shows apples by variety and storage, beans by lot size, meats and dairy multiple grades, butter, cheese, corn products, eggs, flour, fruits, hay, lamb, oatmeal, meal and oleomargarine, onions, potatoes, poultry and live poultry, provisions, sugar, and vegetables with regional notes and per unit or per hundred weights. The document records wide price ranges, including fresh packed, No. 1, fancy, and common grades across New York, Michigan, California, and New England markets.
Money deposited in the following Massachusetts institutions will draw interest from the dates indicated. Details list specific banks, deposit dates, and interest terms for savers seeking reliable local options. Provisions cover savings accounts and terms for early withdrawal.
A dated note lists several banks in the Boston area including Haymarket National Bank Boston Boylston National Bank National City Bank Chelsea Union Market Nat Bank Water Mattapan National Bank First National Bank Malden with a reference to March and April dates.
An itemized price note lists tomatoes labeled Southern and cie ania at 3.50 to 6.50 per unit, with 15 to 40 cobs of hothouse rhubarb. No clear dates or events are given.
Premier George M. Murray, in office since 1896, will retire due to ill health. He will keep the title, but another cabinet member will assume the duties of the premiership.
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