Railway Rate Case Put to Interstate Commerce Commission
An editor's note analyzes the pending 5 percent freight-rate petition by Eastern railroads before the Interstate Commerce Commission. It reviews past decisions, argues whether railroads justify higher costs from wages and materials, and compares current versus prior operating costs, with focus on the Baltimore & Ohio, New York Central, and Pennsylvania lines and impact on 40 million people in the region.
MENTIONED IN THIS ARTICLE
Interstate Commerce Commission
Mississippi
Ohio
The
Commerce Commission
Wee
Railroads
Financial World
Post
Rea
Pennsylvania Railroad
Baltimore & Ohio
New York Central
Pennsylvania
Railroads face rate hikes amid mixed earnings review
A general review finds Pennsylvania and New York Central stock yields steady, but surplus margins shrinking. The 1912 earnings per stock show modest declines vs 1910 while 6 percent dividends persist. The commission notes higher capital costs and competing investors, urging uniform policy across railroads.
Money markets show easy call funds and firm time funds
Call funds were easy while time funds held firm as banks avoided long loans during the crop moving season. Collateral was high quality and lenders resisted extending credit. call rates ranged from 3 to 8.5 percent, with 3 percent for accommodation and new loans. New York call rates stood 2.25 to 3 percent. Time money spanned 3.5 to 5 percent across terms, and local money and forex quotes followed.
MENTIONED IN THIS ARTICLE
New York
Bond Market Notes
Middlesex county Mass awards 28000 four percent bonds dated May 1 1918 payable 2000 Dec 1 1913 1926 to Blake Bros Co. Middendorf Williams Co offering 4000000 Elk Horn Fuel Co first mortgage five percent five year convertible notes at 93 1 2 yield over 6 1 2 percent. Lowell bids due May 27 for 115000 forty one and a half percent municipal loan bonds dated May 1 1913 due 1914 1928. Newport bids due May 15 5 p m for temporary 60000 loan due Sept 65.
MENTIONED IN THIS ARTICLE
Middlesex County
Mass
Blake Bros. & Co
Middendorf, Williams & Co
Elk Horn Fuel Co
Lowell
Newport
R. I
Dividends Declared By Late 19th Century Corporations
Dividends announced for multiple firms including South Penn Ol Company issuing 10 per share on old capital stock and a 300 percent stock dividend to shareholders of record May 20 with books closed May 2 and reopening July 81. Pittsburg Brewing pays 13 4 percent on preferred stock May 29 with records May 19 and May 30 close. Citizens' Traction Company Pittsburgh declares 3 percent semi annual payable May 16 for records May 10 with books reopening May 17. American Sugar Refining Company declares 13 4 percent on common and 13 8 4 percent on preferred stocks payable July 2 to holders of record June 2.
MENTIONED IN THIS ARTICLE
South Penn Ol Company
Old Capital
Pittsburg Brewing Company
Citizens’ Traction Company
Pittsburg
Calendar for Today Ex-Dividend Notation Notes
Calendar lists ex-dividend notes with payable dates for General Asphalt, Int. Nickel, and others. Indicates books open for General Electric, Public Service, Standard Oil of Kansas, Swift & Co and U S Smelt & Ref. Also notes that books do not close and that General Electric and Public Service have meetings.
MENTIONED IN THIS ARTICLE
General Asphalt, Ptd
Standard Oil of
Kansas
Swift & Co
U. S
Boston Stocks Mixed in Busy Bond and Stock Quotes
Total sales reach 1,255,000 dollars, compared with 1,143,000 yesterday and 2,827,000 a year ago. January to date turnover stands at 215,948,000 dollars, versus 326,124,000 a year earlier.
Prices Strong on Light Dealings In Market Report
Market bulletin notes prices strong on light dealings while American Tobacco and Canadian Pacific are weak compared with other industrials and rails. New Haven officials deny Boston & Maine June notes financed or control sought by Pennsylvania interests.
MENTIONED IN THIS ARTICLE
American Tobacco
Canadian Pacific
New Haven
Boston & Maine
Pennsylvania
Market Summary of New York and Boston Stocks
Yesterday's totals show New York 187 800 shares and Boston 14 071. Reading led in NY with 42 000 and Butte & Superior led in Boston with 1 309. Year to date NY 33 195 800 and Boston 2 328 651. last year figures were 55 743 100 and 5 356 957 respectively. Notable gains include Un. Ry. Inv. prof. in NY from 33 4 to 49 4, and Boston & Maine up 2 1 2 to 57 1 2. Canada Southern fell to 58 1 2. Call money NY 2 3 4 to 9 pct. Boston 3 to 3 1 2 pct. Time money NY 3 1 2 to 5 1 4 pct, Boston 4 3 4 to 8 2 3 pct.
MENTIONED IN THIS ARTICLE
Smelt & R
At&s
Atl C
Eait Ohio
Beth Steel
Bk R
Bklyn U Gas
Brunswick
Pacific
Ohio
Mt Wes. P
Chi & N W
Deere & Co F
Eric Pierre
Goodrich BF
Lehigh Valley
Miami
Msp&s . M
Nevada
NH & H
Nor & Wes See
Pitts Coal
Pullman
Rep I & & Pf
Rock Island
Rumely Co
Tex Pacific
Union Pacific
United Cent
U S
U S Steel
Utah
Feeree
Ir C & G
West Union
Westinghouse
Woolworth
Fs&m
Alaska
Tel & Tel
Arizona
Bos Elev
Bos & Albany
Bos & Corbin Oe
Bos & Maine
Butte Ballak
Butte & Sup
Cal & Ariz
Cal & Hecla
Centennial Ee
China
Eee Ee
Daly West Ee
Georgia
Giroux
Keweenaw Y
Maine Central
Mason Valley
Ny&nh
Nipissing Sete
Pullman Co
Ray Consol
Reece But Hole
Santa Fe See Eee Y
Shannon Eeeeee
Shattuck-Aziz
Superior Cop
Sup & Bos
Swift & Co
Utah Apex
Utah Consol
Utah Cop Co
Rit
Wolverine Ee
New York
Boston
Reading
Butte & Superior
UN. Ry. Inv. Prof
Canada Southern
Maine
Ee Iate Ot & Om
New York Market Shows Slow Upward Drift Amid Scarce Supply
Stocks edged higher amid a light trading volume as traders avoided broad commitments. Steel demand was unusually strong with large short interest as bears covered. European markets resumed after holidays boosting sentiment and foreign buying, while Pennsylvania and Jersey Central hit new lows. Consolidated Gas active and led a firm list. bonds held steady.
MENTIONED IN THIS ARTICLE
New York
Stock Exchange
London
Pennsylvania
Jersey Central
Canadian Pacific
Consolidated Gas
United States
Panama
Boston & Maine market update hints at debt refunding plans
The Boston market shows limited movement with Boston & Maine rising to 57 1 2 on light volume as reports spread of potential refunding of its 12 million dollar four percent notes maturing June 10. The notes may be privately placed with a few large banks, with New Haven and Morgan partners involved.
MENTIONED IN THIS ARTICLE
Boston
Boston & Maine
Boston News Bureau
New Haven
Morgan & Co
Maine Central
Worcester
Nashua & Rochester
Boston & Lowell
Fitchburg
New York
Post
Pennsylvania
American Sugar
Alaska
Philadelphia Market Bid and Ask Amid Steel and Utilities Notes
Market items show bid and ask quotes for Cam Steel, El Star, G Asphalt, Lehigh Nav, Lehigh Val, Pa Steel, Penn Salt and others. Percent figures accompany each name indicating price movement or yields, with multiple entry updates across several firms.
MENTIONED IN THIS ARTICLE
Ask. Am Rys
Cam Steel
At of NJ
B& P 4S
el Star Bat
Lehigh Nav
Lehigh Val
Pa Steel
Penn Salt
Bond Market Report Shows Modest Gains in U S Government Bonds
The bond market notes slight improvement in prices with Wales Pittsburgh Terminal firsts highlighted as the principal feature. United States government bonds remain the core focus of the market update.
MENTIONED IN THIS ARTICLE
Wales -Pittsburgh
United States
Curb Market Mixed Moves Across Boston Metals
In yesterday's curb market Boston Ely and Calaveras posted gains while Mexican Metals and Boston Ely slipped. Prices moved from 99e to 96e for Mexican Metals and from 46e to 55e for Boston Ely with Calaveras advancing to 25 percent. Transactions remained limited.
MENTIONED IN THIS ARTICLE
Boston Ely
Calaveras
Central 10 Takes Over Lake Shore in New York
Plans to unify key lines to simplify corporate structure and finance improvements were announced by J P Morgan & Co. A stockholders meeting is set for June 16 to approve the plans. The Central has merged or absorbed several lines in New York State with PSC approval.
MENTIONED IN THIS ARTICLE
New York
New York Central & Hudson River Railroad Company
J. P. Morgan & Co
New York State Public Service Commission
New York Central Road
New York State
New York Central Moves to Consolidate Lake Shore and Other Lines
The New York Central proposes a consolidation with the Lake Shore Railway, which it already largely owns, to operate as a unit. Bondholders holding 75 percent in amount of the collateral bonds would be asked to swap their 3 1/2 percent bonds for 4 percent bonds under a new mortgage securing lines including the New York Central system and several affiliated railroads. The plan contemplates up to 167 million dollars in new bonds to finance the combined properties and expansions.
MENTIONED IN THIS ARTICLE
Baltimore & Ohio
Pennsylvania
New York Central
Lake Shore & Michigan Southern Railway
New York Central Road
Buffalo
W. ©. Brown
New York Central System
Lake Shore
New York and Harlem
West Shore Railroad
Beech Creek Railroad
Troy and Greenbush
Hudson River Bridge Company
Michigan Central
Grain Markets Open and Close Across Northern Regions
Grain market figures for New York Minnesota Duluth St Louis Toledo show openings at 97 percent 89 percent and 90 percent after 87 percent. Closing rates run 96 89 87 and 90 percent with scattered variations across markets.
MENTIONED IN THIS ARTICLE
N. Y. Minn
Duluth
St. L
Toledo
Deuces Wild Begins Next Sunday in Post Magazine
Harold MacGrath's tale Deuces Wild opens in next Sunday's Post Magazine. The serial promises swift action and a puzzling plot with exciting situations and a lively storytelling style.
MENTIONED IN THIS ARTICLE
Harold MacGrath
Metal Markets May 18 Copper Steady. Tin Falls for August
Copper holds firm near unchanged for nearby deliveries while late months ease. Tin declines with the August contract trading at 49.75 for 25 tons sold.
MENTIONED IN THIS ARTICLE
Cop
BOC Sascrcces
Ra Hs
Cccecess
Eee
Cookson’s
London
G. M. BR
Chicago Market Bid Ask Aboard Signal Shipping and Rail Notes
Fragmented market list shows bids and asks for various stocks and bonds including Edison C Rysdo and do pfd, Subways, T N T, Tel, and Nat Carb with prices mostly in low to mid figures. The entry references percent terms and partial notes like 1 or 2 percent yields and imprecise firm names amid a dense ticker-like snapshot.
MENTIONED IN THIS ARTICLE
Edison
B.seee
H S&m
Also Mentioned on This Page
Kidder, Peabody & CO
Devonshire Street
Wall Street
Travellers International Cheques
Baring Brothers & Co., Ltd
Foreignj Exchange
Prouty
Ey Os
Penn
Song
Seceeschteke
Eeee
Re Ee
C. Penn
Siewee
Desecate
New York City
St. Paul
Harvard Graduate
Texas Stock Exchange Commonwealth National Bank
Dallas
Texas
Money Markets
Boston Clearings
Eens Eee
Reichsmarks Eeeereeere
Eeenpeeeree Reseaeeves
Ener
Eeew Rene
Eter
General Electric Company
Public Service Inc. Company
Boston Stocks
Esate
T&t
Mil & St P
Balt & O
C&p Va
An & Pugets
Ozark & C C
Aeres Coors
Wabash Ia
Western Elects
West Mary
New York Market
Philadelphia Market
Phila Co
Phila
Belmont
Bay State Gas
Butte Central
Butte & Bone
Lee Close
Big Four
Braden Copper
Butte & N
Bly Consolidated
Kerr Lake
Manhattan
N. J
Booth
Cope
Flor
Daisy
J Butler
Lake
Midway
Mizpah
Star
Eula
Dome
Alta
Bailey
Beaver
Crown P
Canadian
Demnis
G Chain
Chain
City Ofc
Gr Cent
Cobalt L
Tron BR
STM
Conigas
King Www
C Res
Lwr M
Os Foster
Gifford
Hills
Big D
Victoria
Jupiter
Wilb’t
Messrs. Coutts & Co
Central
Pledges Holdings
Chicago
Enee
Eeeeee
Esvenes
Liverpool
Prey Close
Minneapolis Gas Light Company
Minneapolis
Rhode Island Savings Banks
E.h.rollins&sons
Philadelphia
San Francisco
Los Angeles
Railroad Statistics
the Financial Press
Front St
N. Y
Metal Markets
Chicago Market
S & Co
Morris
Og Gas
P Tool Ss
Consolidated Stock Exchange of
State Street
Broad Street
N.Y
Amalgamated Utah Copper and
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