Stocks Hold Strong Gains Across Markets
Central Leather rises over 3 points while Industrial Alcohol and Other Specialties show strength. Rails remain in demand as Local List posts advance on the trading floor with broad gains across sectors.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Nov 22, 1917
Page
14
Central Leather rises over 3 points while Industrial Alcohol and Other Specialties show strength. Rails remain in demand as Local List posts advance on the trading floor with broad gains across sectors.
Boston market report lists today’s high and low stock quotes and closing values with net changes from the previous alana. The brief note covers several leading issues and their movements in the session.
Total sales in New York 773 600 shares and Boston 17 390. Steel led in New York with 188 200 shares and in Boston with 4 110. Year to date totals show New York 213 950 846 and Boston 5 726 910. Last year’s corresponding totals were New York 187 786 557 and Boston 11 289 624. Biggest gain New York S P R Sugar up 7 to 155. biggest loss D L W down 3 to 183. Boston biggest gain Old Colony R A up 5 to 95. largest loss United Drug Ist pref down 1 to 50.
Wall Street firms gain after British front victory and domestic industrial signals offset pessimism from Petrograd and Italian exchanges. United States Steel leads advance, Industrial Alcohol surges, and rails rally with notable moves across Delaware and Hudson, St Paul, Reading, and New Haven. Bond markets firm as Liberty bonds move higher. Total bond volume reaches $5,175,000.
The record notes the start of an average involving 20 industrials with initiation on October 5 1916, marking a dated economic measurement.
Local gains in Atlantic Gulf, Allouez, Old Dominion, and other issuers held firm through the close. Boston & Maine lagged as rate talks opened. New Haven rose on banker sentiment about a possible receivership avoidance. Butte & Superior discounted poor September earnings, while Nova Scotia Steel shows improved profits, now earning about 26 a share before Canadian tax. Bigelow Carpet trades near outside market levels with a 6 dividend.
John J. Moran of the Boston firm John J. Moran & Co and John M. Crawford of New York, president of the Oklahoma Producing & DevCo, are noted in a report. The United States Trust Company of New York unanimously votes to apply for membership in the New York Federal Reserve Bank.
Stocks rose on news of a British drive into the Hindenburg line with U S Steel Reading and Anaconda among leaders. Traders booked profits later but closed with solid gains while railroads face possible government ownership debates and rate increases.
The report notes total bond sales of 5,374,000 dollars for a day and discusses Boston city tax bond requirements under John J. Curley. It alleges the bond scheme increased costs for delinquent taxpayers and benefited the Peter J. Fitzgerald agency rather than aiding the poor.
The third Finance Commission report accuses a system of bonding delinquent taxpayers to protect property and notes a Curley era push aiding the Peter J. Fitzgerald agency. Mayor Curley says the report is in contempt of court and declines to answer while a Superior Court jury considers the issue.
Mayor James M Curley refuses to comment on the Finance Commission third report about the city’s collecting department. He accuses the panel of contempt of court and notes John J Curley testified in a libel suit against the Boston Herald, with a jury to decide tomorrow.
Michael J. Murray of the Royal Arcanum Club presided as Henri A. Rambonnet spoke on the club’s work at the United States Hotel. A Massachusetts Commission on Social Insurance member urged non contributory old age pensions, condemning the mistreatment of elderly citizens.
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