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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Nov 11, 1913
Page
14
An advertisement from The Associated Trust at 141 Milk St Boston urges readers to invest and save with Absolute Security promising larger earning power. It invites readers to request printed material detailing their plan and benefits.
Market summary shows total New York sales at 486 200 shares and Boston 30 275 shares with Alaska Gold active in Boston and Reading active in New York. Year to date totals: New York 75 011 600 and Boston 4 767 554. prior year period: New York 114 725 800 and Boston 10 068 815. Major gains include Am Cotton Oil pref in New York and Mass Gas pref in Boston. losses include Lake Erie & Western pref in New York and Boston & Providence in Boston. Call money in New York 3 1 2% and Boston 4 1 2%. time money New York 4 3 4 to 5 1 2% and Boston 5 1 4 to 5 3 4%.
The New York market halted with steep declines across representative stocks, some sinking to year lows as liquidation spread. Narrow business and weak support accompanied copper and steel warnings, while a late rally formed from covering as fears over Mexico and a potential trade recession weighed on sentiment. United States Steel showed a strong finish despite a weak monthly tonnage report.
Boston traders saw a broad price decline across securities led by copper, industrial and rail stocks. New Haven fell to new lows before a late rally, American Telephone also dropped to 1188, Amalgamated and other copper related issues slid as metal demand stayed weak. The New Haven plan to borrow 40000 to cover December notes was noted as convertible bond issuance possibilities lingered. Moderate activity ended with a steady tone.
The Research Service Bureau releases copies of its money and bond market digests with valuable data and commentary. The digest also offers noteworthy observations on the income tax situation.
The New Haven railroad arranged for refunding 40 million dollars in short time notes to sidestep court constraints on issuing 67 million dollars in debentures. Old bondholders reportedly seek an injunction to block more short term notes, risking a receivership if denied. Copper and steel markets show weak demand with higher production costs and falling orders, signaling cautious outlook for 1914.
Gloucester Massachusetts will receive bids until 3 p m November 12 for 30000 in four percent municipal loan bonds dated November 1 1913 and due 1914 through 1923 with an average maturity around five percent. State of Connecticut sold 4 million four percent bonds due July 1 1936 issued for general purposes to White Weld Co. and bidders included Kissel Kinnicutt Estabrook R L Day Lee Higginson Blodget Second National Bank New Haven and others.
Preliminary figures show Goldfield Consolidated mined 90,483 tons in October with net $154,000. September yielded 27,979 tons and $152,000. Old Dominion Mining produced 2,087,000 pounds blister copper in October vs 2,679,000 in September and 2,523,000 a year ago. Davis-Daly resumes work after engine break at Colorado mine.
The passenger steamer Huronie of the Northern Navigation Company ran aground in Whitefish Bay off Sault Ste Marie amid a fierce gale. She is resting on sand and is not considered in dangerous condition.
The bond market summary notes week sales of $1,779,000 versus $1,712,000 last week and $2,038,000 a year ago. Year to date sales reach $433,374,000 compared with $6,079,000 a year earlier. Key issues include listings for Steel, Electric and railroad bonds with varied yields and maturities.
Harvard bettors in Cambridge backed Princeton with 8 to 10 odds and faced heavy losses as Brickley failed two field goals and Harvard did not win by 15. Many Harvard supporters risked dollars on scores and margins rather than the outright winner.
Prince Mandikane Cele of Zululand visited Harvard University lecturing to students and praising the football team. He announced plans to bring a Zulu football squad to the U S to showcase the American game and establish an institute to teach Zululand the American method of play. He has secured backing from Harvard Yale and Brown with hopes for Oxford and Cambridge. He toured Boston meeting Coach Haughton and Captain Bob Storer ahead of his return to Zululand.
Samuel Gompers pledges an open forum at the AFL opening session in Seattle on November 10. He targets judges Wright Humphries and Jeffries and defends free assembly speech and press against what he calls overreach. Secretary Wilson attends as credentials are reviewed and seats contested delegates noted.
A 43 year old ex US Army man Samuel Corcoran is hospitalized in serious condition after being found unconscious on Neponset Avenue near Adams Street Dorchester. Doctors have not yet determined the poison or drug involved. He is about 5 feet 6 inches tall, 180 pounds, dark complexion.
Alfred Noyes delivered the first of eight Lowell Institute lectures at Huntington Hall last evening. Speaking about "The Sea in English Poetry," he addressed a crowded audience for nearly an hour. At 82 he is regarded as the greatest living English poet.
Edward J. Bacon a Jamaica Plain postal worker died at Boothby Hospital from throat cancer at 57. Born in Brooklyn he moved to Boston as a youth and learned machinist trade before joining the postal service 16 years ago. Survived by his widow, the funeral is set for Wednesday at the Church of St. Mary of the Angels in Roxbury.
Senate to act on Mellen interview as Stiles Judson, Jr. probes responsibility for the New Haven railroad operations. Mellen admits he was operating head at the Westport wreck time, a key point in the manslaughter indictment slated for the next Superior Court term. Judson vows to push the case with Post scrutiny as witness list forms.
Ex-Judge A Heaton Robertson says the New Haven 8 per cent dividend might have survived if not for the public clamor, wrecks, and costly improvements. Other directors declined to discuss ex-President Mellen's charge of mismanagement, urging focus on current administration.
Rhode Island Bank Commissioner ruled the 67.6 million New York New Haven & Hartford bonds cannot be legally issued in the state under current law. The decision allows Rhode Island trust companies to purchase bonds if issued but prohibits segregation, and bars savings banks from dealing in them.
Former Connecticut governor Bulkeley, amid opposition to the New Haven road policy, told a Post reporter he agrees with Mr. Mellen on steel cars. He had initially declined to comment but later called Mellen’s statements about steel cars acceptable.
Harvard announces a two week Christmas break starting December 1 and ending after January, extending the holiday by four days to allow students from distant states to return home for the season. The move aims to accommodate undergraduates from across the country, with earlier reopenings to follow.
The Ward 12 South End Woman Suffrage Party opened permanent headquarters at 704 Tremont Street for women to meet and learn about suffrage. Senator elect Joseph Leonard of the Fourth Suffolk district spoke, with other party leaders in attendance, as the group numbering over 100 women advances the movement.
A Boston Post special on the financial page will analyze immigration figures as they relate to current business. The piece compares present flows of immigrants with volumes in prior critical years to gauge economic trends amid tariff changes and domestic manufacturing concerns.
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