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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Oct 01, 1912
Page
15
The money market yesterday saw a peak call money rate of 7 1/4 percent for a small loan, the highest this year, with most dealings at 6 1/2 to 6 1/4 percent. Bankers viewed the rise as an incident rather than signaling acute conditions, while local money rates and foreign exchange were noted as of the day.
Local curb trading highlighted Lion Hill at 95 cents a new high, Alaska Gold at 10 dollars, and Butte & London fluctuating from 67 to 46 then 62 and closing at 61 cents. Other notable names included Mexican Metals receipts Calaveras and Hagle & Blue Bell.
Bid listed for housing fund notes and requested offers. Percent figures 19 percent and 68 percent appear with various codes such as Hous O11 and Hous O cfp. Other entries include Nf Lt, Nor Cent, Seab A L 4s, and Ist. The fragment outlines yields or prices and instrument identifiers without full context.
Henry Hornblower Henry H Gay and Sidney Chase elected president vice president and treasurer of the Boston Stock Exchange. John Parlkinson Frank W Remick George Ne ooe Philip W Wrenn and Herbert I Ponpae Sea also chosen. Additional names appear in partial OCR text with unclear details.
Dividend notice issued by United Fruit Company Ind No 338 informs stockholders of record at close of business September 14, 1912 about a quarterly dividend of two percent on capital stock. Treasury: Charles A Hubbard, Treasurer, office at 1811 State Street, Boston.
Steel Common crosses 80 for first time since July 1910 while Steel Preferred reaches 117. Local issues remain active and steady as American Zinc leads market activity.
The report shows total sales in New York 7876000? Actually 787,600 shares and Boston 44537 shares. Woolworth common leads gains in New York with 3 to 111 3 4. Boston Shattuck Arizona gains 3 to 30 while Vermont & Mass. falls 12 to 152. Call and time money rates are listed for New York and Boston.
Active trading in New York sees heavy early selling of United States Steel Amalgamated Copper and Reading, followed by a mid day rally to the year’s high before late session selling erodes gains. Call loans surge to 7.12 percent as banks brace for October payouts amid Balkan influenced foreign exchanges. Total par value sales reach $2,450,000.
Trading in Boston moved 44000 shares with American Zinc leading in volume and advancing to 84 3 4, near the year’s best levels. Smelting common saw selling but absorbed on declines. East Butte faced heavy offerings and a 16 1 4 dip. Copper group strength supported North Butte Calumet & Arizona Old Colony and Granby with rights for Butte & Superior Edison Electric and United Shoe adding to the bullish tone.
The New York, New Haven & Hartford report for the year ended June 20, 1912, records a deficit of 929,000 after all charges and dividends, with a decade of net deficit totaling about 1,160,000 despite a 1.72 cent per passenger mile revenue and 1.871 cent per ton mile. The East Butte Company financing plan, dating to 199, faces delays as notes of 1,625,574 due next December prompt consideration of convertible bonds. Market activity remains active with Steel common a standout, while global money conditions tie Germany’s fate to New York’s credit pull this quarter.
September 30 cotton prices show an irregular pattern with a brief early steadiness then a downturn. Liverpool performs better than expected while U S markets stay near unchanged to down, aided by broker selling tied to a Memphis editor's crop condition figure and cautious bulls amid anticipated census output and boll movement.
Nervous active trading in September contracts for corn and oats with closes mixed. Cash corn at 69c to 69 3-4c, exports 24 000 bushels wheat and 160 000 new corn. International quotes show Paris and Liverpool movements as noted.
The Bond Market report notes a fairly active session with a firm tone. It lists Atchison convertibles Mercantile Marine 4s Rock Island collateral 4s and Wabash Pittsburg Terminal 4s among other issues. The stock exchange bond transactions cover numerous issues with totals in the millions and a recap of weekly and year ago volumes.
Copper remains quiet yet steady at the metal exchange with spot trading around 50 to 51 and lead and zinc quoted firmer. London market closes with copper futures rising to around 70 pounds and tin at about 229 pounds per ton while selling interest persists for several metals amid mixed supplies.
The annual New York New Haven Hartford Railroad report shows a gross income of 63,570,709 for year ended June 30 1912 up from 62,153,434 in 1911. After dividends the deficit totals 929,989 versus 1,267,539 a year earlier with detailed figures across years 1910 1911 and 1912 and notes on stock issues and securities acquisitions.
Market notes show cement and steel issues like Am Cement and 1Co of Am trading with varied dividends and prices. Ex-dividend actions cited as some tickers show 12 and 10 percent ranges and values around 0.55 to 0.70 on select notes.
The Boston and Maine proposes a new issue of bonds and a large block of stock at par while the old stock sits near 95 on the market. Analysts question how the 25 percent higher dividend requirement could be met given the recent earnings record. The Boston Post will publish a financial page article analyzing the history and prospects for the railroad.
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