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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
May 28, 1914
Page
22
Stock markets featured General Motors on a strong rise with gains around 534 points plus 99 and 612 points net to 98 amid talk of receivership for Boston and Maine Ray. Copper production in April set a record while Jackson County reduced its dividend.
Daily and year to date stock totals for New York and Boston are listed with the most active issues, notable gains and losses, and call and time money rates. General Motors leads New York gains while Delaware & Hudson drops, Southern Pacific rises in Boston, and Indiana falls.
Mexico again influences trading as official advices point to settlement, aiding a general gain across New York shares. Canadian Pacific leads with a 2 to 3 point rise, while Hariman, Reading, U S Steel and Amalgamated Copper advance about a point. General Motors soars over seven points on dividend resumption rumors.
Trading on the local Boston exchange showed a brisker tone after New York, with fractional gains on most stocks. Alaska Gold led activity at 28 1 4, United Fruit closed 148 , Boston & Maine up 1/2, while Pond Creek Coal Old Dominion and Massachusetts Electric preferred fell slightly amid a generally cheerful mood boosted by copper and China production reports.
A truncated notice lists Hotchkin and Co with addresses at 53 State Street Boston Massachusetts and 34 Pine Street New York New York plus phone lines and a name John 3580 indicating contact details in the business listing.
In Boston the Merchants and National Bank of Commerce deal leaves the purchasing bank with a high deposit retention. Merchants Bank deposits have surged past 40 million, topped 52 million briefly, and now hover around 46 to 48 million, marking the city’s third bank near 50 million in deposits.
The Post notes lawyers say a receivership is likely as Boston and Maine faces a chaotic path to reorganization. New money is needed, major leased-line holders threaten breakups, and the plan requires court action to allocate new securities fairly amid deficits and asset stripping.
New York State issues held firm while New York City bonds eased slightly. Brooklyn Rapid Transit and Wabash issues showed gains amid a broad list of bond movements. Total sales reached $2,157,000 for the day with year-ago totals and week-ago levels noted.
The Valdez Creek placer mines since January 1 have all been paid for, totaling $133,713 in costs. Bond interest added an additional $9,000.
Quincy temporary loan of 25000 sold to Loring Tolman Tupper with Blake Bros bid. Springfield places 800000 loan to Morgan Bartlett. bidders include Solomon Hut zier Curtis Sanger Bond Goodwin. Taunton awards 256000 in two installments to Curtis Sanger. other bidders listed. A B Leach Co wins 200000 water bonds in Seattle. Boston Elevator authorized to issue 1000000 bonds for working capital the first such authorization.
Valdez Creek Placer Mines led by President George W. Sias reports the 250 ton hydraulic mining outfit arrived at Valdez Creek on April 30 after departure from Chitina in March. Riveting on the mile and a quarter pipe is underway with use anticipated by July 11. Sias plans to travel to Valdez Creek around that date. Equipment and supplies purchased.
The snippet shows May July October December August and other month labels with closing prices around 7.28 to 12.90, Open and Low values, and spots data. It notes New York activity with figures for Sales, 4000 spots, and a minor up-tick.
Ray Consolidated reports April copper output of 6,227,890 pounds, surpassing March record of 6,223,617. Chino Copper outputs 6,109,888 pounds in April, with January and March figures of 6,131,840 and 5,566,819 pounds respectively. Jackson Company lowers its dividend rate from 8 to 6 percent, continuing at 6 percent since 1912.
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