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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
May 25, 1918
Page
12
Consolidated and condensed balance sheet for Westinghouse Electric and its US subsidiaries shows assets totaling 164 million with cash and receivables listed. Income statement reports gross surplus of 33.5 million, net income for the year 15.4 million, and a year ending surplus of 26.4 million as of March 31, 1918.
Current prices show loans at 54 to 6 percent for brokers and customers, with commercial, collateral and year money at 6 percent. Federal Reserve rediscount rates apply to commercial paper and U S debt notes, while foreign exchange quotes list sterling, francs, guilders, and other currencies with small gains in guilders and stable overall activity.
The War Department announced 8000 three to five ton motor trucks have been placed with 15 automobile manufacturers, in addition to 10,000 similar trucks already being delivered.
Mixed signals on excess profits tax spurred late-day volatility as Steel rose on rumors then fell after word of no immediate tax revision. Farm Loan bonds lured buyers with 5 percent yield, while Westinghouse and Calumet & Hecla posted notable moves amid broader earnings and dividend shifts.
Total sales by New York and Boston for the period show New York at 49,344,585 shares and Boston 1,294,043 shares from Jan 1 1918 to date. Most active issues include Steel in New York and Mass Elec pref in Boston. Notable gains and losses list Phila Co in New York and Calumet & Hecla in Boston with percent shifts and specific share moves.
Trading in New York stocks on May 24 lingered in a speculative mood with emphasis on secondary industries and utilities. Major gains faded as Washington tax legislation rumors and the British premier's Edinburgh address influenced sentiment. Sumatra Tobacco surged to a high then reversed.
Local issues moved unevenly yesterday with gains eroded by late trading. American Woolen led advances to 60 as Boston Elevated and Massachusetts Electric fluctuated, while American Telephone rose to 101 1 4 amid unexplained strength.
Boston markets report May 24 with high and low quotes plus net changes from previous close. Financial data covers listed securities in the Boston exchange.
Massachusetts Food Administration lists current retail prices by abundance. Abundant items include spinach potatoes rhubarb lettuce. normal items cucumbers onions cabbage asparagus green beans. scarce items carrots parsnips beets oranges bananas.
The Public Service Commission permits a fare increase on the Boston to Nantasket Beach route. Beginning today the single fare becomes 85 cents, up from 25. 30 days after filing, the new tariff takes effect. Trip tickets remain unchanged. last summer the individual fare was 25 cents.
May waterfront calendar notes the 1329th year of conflict and shows tides, lunar phases, and celestial highlights. Fishing vessels caught about 380,000 pounds of groundfish led by the Frances Grueby, with ex vessel prices for haddock cod pollock halibut and others. detailed vessel catches and fares are listed. Coal imports into Boston reach about 175,000 tons for the week and the Pallas tugboat faces a $5000 libel suit over prior towing damage. The Landsman.
The oil division of the fuel administration set ally prices for gasoline at gulf ports 21 cents per gallon and Atlantic seaboard 23 1/2 cents, aviation naphtha 30 to 32 cents, and fuel oil and kerosene rates across gulf ports and Atlantic seaboard. These 60 day rates aim to curb domestic price rises as large allied buyers influence U.S. markets.
Stockholders of the Boston Elevated Railway Company will hold a special meeting on Monday June 3 at noon in Gilbert Hall Tremont Temple. The purpose is to act on the act passed by the Legislature and signed by Governor McCall granting public control of the road.
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