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This newspaper page contains 14 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Nov 28, 1912
Page
14
Investors notice thin trading as markets show limited activity ahead of the holiday. Rubber stocks General Electric and Atlantic Coast Line rise notably while North Butte and United Fruit post substantial price gains in a cautious session.
Yesterday's market totals show New York sales at 152 600 shares and Boston at 21 359. U S Rubber leads gains in New York while Virginia By Pr slides. General Electric and Calumet & Hecla drive Boston gains and losses. Call and time money shift in New York and Boston.
New York market open shows apathy and steadiness amid tight money. Traders avoid new ventures as money pressure remains. activity on the floor is light with narrow stock fluctuations. Rubber and General Electric rise while Canadian Pacific and Reading dip near close. a $32 million gold shipment to Canada and San Francisco influences sentiment.
Wheat rebounded despite weak cables and a large Bradstreet stock rise. Outside gains led by December and May contracts, with North American stock increases totaling 11.4 million versus 2.0 million last year. Corn stayed steady, oats rose, and exports topped 200,000 wheat and 32,000 corn.
Holiday absence shortened trading with few moves in Boston stocks. Mayflower rose intraday 1634 to 1778, closing 1718 after limited activity. Old Dominion Copper Mining declared quarterly dividend of 1.25, Copper Range rose to 575, North Butte advanced to 3612 on news of nearby properties. Utah Apex and Massachusetts preferred warrants traded modestly. overall tone remained firm.
In yesterday's curb market Mexican Metals led activity with prices rising from 67 to 70 cents and closing around 68 cents. Traders report buying for management-linked accounts while Calaveras Copper Bay State Gas Butte Central and Michigan Utah remained within the group.
The money market remains strained with yesterday’s call rate fluctuating 9 to 4 percent, closing near 4 percent. Prices on short-term bills ranged from 6 1/2 to 8 1/2 percent, while time money for various tenors showed 5 1/2 to 6 percent for longer terms. Demand stays persistent domestically and Canada has drawn on credits as its loans in the U.S. diminish.
Buffalo offered 262 500 dollars in city bonds at public auction. Suc- cessful bidders included R L Day Co for 112 500 dollars water refunding bonds and Marine National Bank for 150 000 dollars Buffalo and Jamestown Railway refunding bonds. Kings County Electric Light & Power plans 5 million dollars of convertible 6 percent debenture bonds dated March 1 1913 and payable March 1 1925. Everett Massachusetts sold 18 000 dollars of 4 percent school notes dated August 1 1912 to Estabrook & Co. Other bidders listed. Worcester invites bids by noon December 2 for 65 000 dollars of 4 percent bonds including sewer and schoolhouse bonds dated April 1 1912 and due April 1 1926.
High money rates curb speculation yet earlier calls on loans reached 11 percent. Market dull with 150,000 shares traded as banks prep for the year end call and New York real estate shows a downtown exodus to new skyscrapers changing the city’s balance.
The New York bond market shows firmness with United Railways of San Francisco and Brooklyn Rapid Transit 4s trading steady amid broad government bond quotes. Total daily turnover reached 64,600,000, with week and year totals tracked against prior periods and January 1 figures at 5627,767,000 and 799,872,000 respectively.
The Harvard Advocate announces the election of Donald Earl Dunbar Springfield Harold Chase Greene Baltimore Md and Charles Gouverneur Hoffman New York to its editorial staff. Albert Lamb Lincoln Brookline is elected to the business managers staff.
Cardinal O'Connell was honored by the Plymouth County Fourth Degree Knights of Columbus in Brockton on November 27. The event marked his first anniversary as a cardinal and drew clergy from many parishes, with speeches praising country virtues, open air life, and the strength of rural Catholics in contrast to city life.
Following a materially higher Liver pool opening the market opened strong and moved to higher prices not seen in some time. Short selling and the closing out of timid holders over the holiday caused a recession, though contracts were well taken. A brisk rally existed just before the close.
Copper falls slightly while tin declines and lead and spelter hold steady at the metal market. London close shows copper around £76 7d and lead near £117 18s 4d with various futures and tonnage figures reported.
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