Cotton futures tax ruled unconstitutional by federal judge
The Lever law, the cotton futures act of Aug 18 1914, was declared unconstitutional by Federal District Judge Hough as a revenue measure that originated in the Senate rather than the House. The ruling came in a suit brought by Samuel T Hubbard of Hubbard Bros and others to recover $1000 paid under protest to John Z.
MENTIONED IN THIS ARTICLE
New York
Hough
Senate
House of Representatives
Samuel T. Hubbard
Hubbard Bros
John Z
Judgment Rendered for Plaintiffs in Tax Case
Lewe Jr. served as collector of internal revenue under the law. Judgment was rendered in favor of the plaintiffs.
MENTIONED IN THIS ARTICLE
Lewe, Jr
Internal Revenue
Cotton Futures Act ruling echoes in market swings
Judge Hough sustained the constitutional challenge that the act originated in the Senate and taxed the manner of transaction rather than the trade itself. The decision triggered a sharp market break as cotton traders weighed the implications with January futures tumbling toward prior levels. Analysts warned outcomes hinged on further court action and potential refunds of collected sums.
MENTIONED IN THIS ARTICLE
New York Cotton Exchange
Bustain
Justice Dept Considers Appeal On Cotton Futures Act
Attorney General Gregory declined to say whether the Department of Justice would appeal Judge Hough's ruling that the cotton futures act is unconstitutional. Officials expect an appeal, noting enforcement concerns in Agriculture and Treasury and the law's conference version. The decision surprised Washington insiders familiar with the congressional debates.
MENTIONED IN THIS ARTICLE
Washington
Gregory
Department of Justice
Hough
Department of Agriculture
Treasury Department
Congress
Senate
Metal Markets Quiet Amid Mixed Metal Prices Across Regions
The New York copper market quotes 181-Sc for electrolytic copper with second hands at 177-S 18 1-62 for 1916 deliveries. October spelter at 13.30 18.55c, November 12.80 13.05c, December 12.30 12.50c. Joplin zinc ore steady at $80 87.50. lead at 41-2c delivered to Dec 1. Tin at 323-4c, other metals listed with prompt NY shipments. Locally Northern iron prices hold around 17.58 18.58 for No. 1, with 1916 quarters near 18.08. Birmingham and Virginia furnaces show varied 1915 vs 1916 deliveries and prices.
MENTIONED IN THIS ARTICLE
New York
East St. Louis
Joplin
Northern
Birmingham
Southern
Virginia
F. O. B. Furnace
Cotton Markets Sixth October Fragments Show Mixed Prices
Market notes from New York list open high and close figures for cotton futures with minor gains and declines across months including November and April. Trading data reflect small shifts, with quotes around 7.10 to 7.22 cents and day’s close near 6.97 to 7.18 cents.
Stocks Rise and Firms Lead Market Highs
War Order stocks show strength with Bethlehem Steel up 16 points to a new high. Studebaker soars 19 points while Boston prices stay firm. American Zinc highlights the session as Lawson stocks open strong but drift later.
MENTIONED IN THIS ARTICLE
Bethlehem Steel
Studebaker
Boston
American Zinc
Lawson
Market roundup of New York and Boston trading yesterday
Yesterday's market totals show New York selling 1 203 400 shares and Boston 95 933 shares with Steel leading in New York at 161 100 shares and American Zinc top in Boston at 18 765. From Jan 1 1915 to date New York reached 126 481 800 shares and Boston 8 957 494. Compared with last year New York lingered at 46 500 900 and Boston at 3 268 807 shares. Studebaker rose 19 to 164 in New York while Minn & St L pfd fell 11% to 2934. Am Woolen gained 234 in Boston and Tamarack dropped 2 to 55.
MENTIONED IN THIS ARTICLE
New York
Boston
Steel
American Zinc
Studebaker
Minn, & St. L
Am. Woolen
Tamarack
Ogi
Kan City
Kinga Co EL
Kresge Co
Mackay Peere
Aita
Manhattan
Pet Co
Pet
Ns Vo
Miami
Minr & S
Min & SL
N&h
Pacific
West Marys
Westinghouse
W & L Fy
W & LH
Oso
W& LE
Wells-Fargo
Wil-Overlan
Wil-Overland
Woolworth
Wil Central Ca
New York Market Mixed as Speculative Favorites Lead
Speculative favorites regain top spot while rails decline amid heavy foreign selling. Bethlehem Steel climbs to a new high, Studebaker and Maxwell Motor hit records on dividend news. United States Steel gains 1 1/2 points near its 1910 high as bonds and copper convertibles rise.
MENTIONED IN THIS ARTICLE
New York
Bethlehem Steel
Studebaker
Maxwell Motor
General Motors
Baldwin Locomotive
Lackawanna Steel
American Woolen
United States Steel
Department of Commerce
Marlboro Bond Issue Open for Bidding by Oct 19
New York stocks report notes Marlboro Massachusetts invites bids until noon October 19 for $17 000 four percent paying bonds dated July 1 1915. Bonds pay $2000 annually 1916 23 inclusive and $1000 in 1924.
MENTIONED IN THIS ARTICLE
Marlboro
Mass
Market opens with brisk activity at Trinity and copper issues
Boston trading starts with Trinity at 15 then 12 3 4 before closing 13 as brokers report profit taking. First National Copper opens at 9 rising to 71 4 and closes 71 2. Bay State Gas moves 2 to 30 then 24 and 29 and ends 26. American Zinc leads, up from 61 1 2 to 64 3 8 and closes 63 4. Butte & Superior up 1 4 to 62 1 2, Santa Fe Copper peaks at 41 2 41 8 before settling. Tamarack slips 8 points late, Butte-Alex Scott trades at 9.
MENTIONED IN THIS ARTICLE
Boston
Trinity
First National Copper
Lawson
Bay State Gas
American Zinc
Butte & Superior
Santa Fe Copper
Lewisohn
Butte
Alex Scott
Iton Stock Exchange
Alaska Es
Algomah
Allouez
Ag Chem
Ag Ch Pf
Arizona
Atchison
Gulf
Gulf Pf
Bonanza
Bos & Albany
Bos & Maine
Bos & Maine Pe
Bos
Bos & Wor
Butte Al-Scott
Butte Ballak
Butte & Sup
Cal & Arizona
Cal & Hecla
Lilly
Daly West
East Butte
Edison Alee
Fitchburg P
Franklin
Granby
Ally
Greene
Hancoc
Helvetia
Indiana
Inspiration
Island Creek
Isle Royale
Lake Copper
la Salle
McElwain
Mason Valley
Michigan
Miami
Mohawk
Nevada
Ldria
New Englel
Ny&nh
Nipissing
North Butte
North Lake
Old Colony
Old Dominion
Osceolis
Pond
Quincy
Ray Consol
Reece But Ale
Reece
Os Sly
Rutland Pf
St Mary’s
Santa Fe
Ale
Shannon Sakes Wee
Shattuck-Aziz Filg
South Lake
South Utah
Sap & Bos
Superior
Swift & Co
United Fruit
Tone
S Smelt
U S Steel
Em Sas
U Teel Pf
Abe
Utah Apex
Utah Consol
Utah
Lake
Ventura Oil
Bho
Victoria
Aly
West End
West End P
Western Union Tolg
Bohemia
Orbin
Butte & Landon A
Alaveras Bs
Vie
Cal & Mont
Hampion
Ines
C Dees
Cortez
Davis-Daly
Eagle & Bell
Fuller
Goldfield
Gold Lake
Houghton
Humboldt
Majestic
Erhieee
Eter Neeee
New Cornelia
Raven
Bond market figures show varied issues and prices
The listing details numerous bond issues from Anglo-Fr five year to North Pacific, with prices and stamps noted. Several corporate and utility bonds are shown with yields, issue dates, and trade values, reflecting a broad screen of fixed income activity and market quotes.
Sharp drop in idle cars signals wartime rail movement
The American Railway Association reports on Oct 1 there were 78,299 idle cars in the United States and Canada, down from 185,009 on Sept 1, a 106,710 decline. The figures reflect heavy munition traffic and improving business, with last year’s idle-car surplus at 131,027.
MENTIONED IN THIS ARTICLE
American Railway Association
United States
Canada
Boston
The
Post
Fitzgerald Hubbard Company Enlarges Quarters
Fitzgerald, Hubbard and Company enlarge their offices at Milk Street taking over the former Federal Trust Company space. Clerks will be stationed in the new quarters to handle the extra commission order workload generated by increased business.
MENTIONED IN THIS ARTICLE
Fitzgerald, Hubbard & Co
Federal Trust Company
Milk Street
Money Markets and Foreign Exchange Report Oct 13
Current quotations show call loans 5 percent outside brokers 5 percent. Commercial loans 4 6 percent. Collateral and consumer loans 4 6 percent. Commercial paper 4 5 to 4 percent. Year money 4 14 percent. Exchange rates and balances listed for Boston New York and the Sub treasury. foreign exchange market easier morning then rally. post noon rates show sterling 4.6815, demand 4.08, francs 5.83, marks 5825, guilders 40 1/2, lire 6.32.
MENTIONED IN THIS ARTICLE
New York
Boston
Clearing House
Bleecétees Aplessoue
Treasury
Seema
Market Barometer Note on Pennsylvania Reading and Tehigh Valley
The report states Pennsylvania Reading and Tehigh Valley are retained on a percent basis to ensure continuity of the average. It notes this is obtained by doubling the $50 par amount.
MENTIONED IN THIS ARTICLE
Pennsylvania
Reading & Tehigh Valley
Edison Electric Illuminating Company annual report issued
The Edison Electric Illuminating Company of Boston released its annual report for the year ended June 30. The document compares financial results and operations, outlining earnings, expenditures, and notable corporate activity for the period.
MENTIONED IN THIS ARTICLE
Edison Electric Iluminating Company of
Boston
Pullman Company Annual Report for Year End July 31 1915
The Pullman Company reports for the year ended July 31 1915 show gross earnings of 41 012 084 and 44 725 51 net earnings before depreciation and amortization. Depreciation totals 9 751 575 and 10 552 547. Surplus funds 10 546 849 and 10 844 918. Dividends paid 9 999 716 and 9 798 565. Balance sheet shows cash losses 947 155 and 1 245 553.
Dividend Notice from Municipal Service Company Stockholders
Municipal Service Company declares a 71 percent dividend on the Common Stock payable October 21, 1915 to stockholders of record at the close of business October 16, 1915. Baker Ayling & Company, transfer agents.
MENTIONED IN THIS ARTICLE
Boston
Municipal Service Company
Ha Peen
Baker, Ayling & Company Transfer Air
Municipal Service Company Declares Preferred Stock Dividend
A quarterly dividend on Municipal Service Company preferred stock has been declared payable on November 1, 1915 to stockholders of record at the close of business October 29, 1915. Transfer A y "oth.
MENTIONED IN THIS ARTICLE
Municipal Servicempany
Baker, Ayling & Compan Transfer
O Nm Ecensenne Wear Maties
Bellows Falls Power Company Announces Semiannual Dividend
Bellows Falls Power Company declares a semiannual dividend to stockholders of record at close of business October 24. Transfer agents notify holders of the preferred stock of the company about the payment.
MENTIONED IN THIS ARTICLE
Bellows Falls Power Company
Also Mentioned on This Page
American Thread Co
Ist
Bernhard, Scholle & Co
New York Stock Exchange
Wall Street
Richardson, Hill & Co
Congress St
sFo
Consolidated Arizona
Jones & Baker Stock Brokers
Devonshire Street
Fort Hill
Philadelphia
Chicago
G. W. Field & CO
State Street
Ahauve
Brady & CO
Devonshire St
Triangle
Edward E. Epps & CO
Broad Street
EDW
Massachusetts
Richard J. Burton & CO
Dot Scollay
Court Street
Long & Company
First National
Boston Coppers
Metal Markets
Cloge
Minneapolis
Whedon
St Louis
Kansas City
Detroit
Open High Low
New York Market
Alaska
Smelt & R
Steel Fury
Tel & Tel
Realiz
Ata&se Pf
Atl
Batopilas
Ohio
Br Wn Shoe Co
Nswhceesewe
Te & Superior
C Pet Corp
Pet Corp
A & Ohio Nat
Rl& Pac
Crible
Crible Steel
Am Sug Co
de Tudsek
den & RG
Dss&a
Erie
Goodrich
Ins Co
Agr Corp
Boston Stocks
Balt
L&en
South
Mil
Soo
Motors
Kennecott Euecae
Kelly-Spring
Midvale
Oony
Stewart M
Stand Motors
Steel Co
C BA da MN
Boo St. Joseph la Juha
Trinity Gan
S. Let & H
Nat
Prairie O & G
Ver
Stock Exchange
Anglo-Fr
North Pacific
Col & Sprig
Ry & Ae - Say
Brown del & Hoert
Bros & Co Ie
Pacific T & Tis
Penn
Penn Gal
Fears
Pee Gas & Coke NY
Phila
Enada
I. 90
Gold E
du Pont de Nem
L& P
V,le
Liggett&m
L& N Aw
Mid State
Reg
National
Cmil& St Pen
Ays
Li Breas Col
Moree
Wa Bos
Tedae Ericoel
Lwhl
Aper
Ili
Sinea
Adams
Alaska Gee
Weeens Ware
Sheet Sprint Amazone
Renee
Ocean
Ray Con Cop
Brie
Weeree Ve
Imate
Tee Republic
Roch & P
Hest Trust Co
Ctis
Armour & Co
Georgia Pac
San An & A P
Land & Man Adj
Seab Air i
Seab Air L mi
Bell T & R
Bea Hi Biel
Angeaus
India
Balt & O
Cvt
Balt & O San 'Ais i. Thre
Beth Steel Ie
Beth Steel
Seagate
Lees Int & G
Fom
Fom Centr
Southern i Wat
kerseMs
Ian
Kan
Roy Texas &P
Ms T Pac
Union Pac
Union
An RR
West Mary Land
Lorillard
L&pl
K &Tr
Mo. Pacco
Mo. Pac Ev
T P Rig
Southern Railway
Maxwell Motor Company
Massachusetts Gas Companies
Citizens Gas & Light Company of
New England Coal & Coke Company
Harrison
Europe
Boston & Maine
Norman J. Bassett
Augusta
Governor Hill
Maine
Edwin G. Hastman
Exeter
N. H
James H. Hustis
William J. Hobbs
H Fisher
Arthur B. Nichols
Charles W
Pacific Mail
Pacific Mail Company
B. IF. Goodrich Company
New York Stock F Exchange
Boston Cons Gas Ae
East
Boston Gas
Gas & Coke
Wee
Ay Orbene
Citizens
P Coal & Coke
Newton & Watertown
Fed Goal & Coke
Boston Tow Boat
Lackawanna
Iehigh Valley
Chi
Money Markets
Tan Lw
Dee
Pacific Mills
Neurre Ames Ewer News Rts
Heston Bros. & Wuakefield Co
Merrimack Chemie al Lo Vette
Boston Athenaeum Pee Ee
National Shawmut Bank
Boylston National Bank
Wamsutta Mills
Tremont & Suffolk Mills
Plymouth Cordage Co
North Boston Lt
Edison Issues Annual Report
Pullman Annual Report
Pullman Company
Wee Ord
Baker, Ayling & Company
New England
Soston
Sre
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