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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
Oct 15, 1913
Page
16
The article analyzes how falling stock prices reflect a potential downturn in overall activity. It reviews bank clearings, foreign trade, and business failures, noting September 1913 record clearings yet hints of contraction, with looming winter impacts and hopes for a spring revival.
The directors declare a quarterly dividend per share on Island Creek Coal Company common stock payable November 1, 1913 to stockholders of record at close of business October 22, 1913. Treasurer Batochelder signs notice.
Early weakness gave way to free selling and a late rally as prices edged up. The market posted many new low records for the year and the Boston Exchange closed with the telephones again a weak feature.
Yesterday's market totals show New York sales at 472,700 shares and Boston at 31,232. The most active issues were Steel common in New York with 98,700 and Butte & Superior in Boston with 4,420. Year to date New York totals 69,124,000 shares and Boston 4,400,954. last year at this time New York 103,234,300 and Boston 9,385,887. Brooklyn Union Gas led gains in New York, while N Y Dock fell. In Boston, N Y H & H gained while Mississippi River Pr fell. Call money and time money ranges are noted for both cities.
The New York stock market opened lower with declines of 4 to 3 points in many active issues and stronger losses in less prominent stocks. Southern Pacific led the weakness amid a government suit to dissolve the company, while United States Steel Amalgamated Copper and Reading recovered later.
Copper on the New York Metal Exchange shows unsettled spot to January at 15.00 16.00, electrolytic 16.50 16.87, Lake 16.74 17.00, casting 16.37 16.75. Tin remains dull with spot at 40.25 40.45 and near-term futures around 40 15 40.45. Lead steady around 4.40 4.50. spelter quiet near 5.30 5.40.
In Boston bourse trading on October 14 heavy selling swept across all classes led by declines in American Telephone Boston Elevated and allied issues. Covers later nudged prices up from intraday lows but levels remained below last Saturday’s closes. New Haven rebounded late while notable losses persisted in Old Dominion United Fruit and Tamarack. The Sunday Post Magazine continues the "Madcap" serial by George Gibbs.
United States Government bonds closed five lower bid with a heavy unsettled tone. Southern Pacific collateral 4s held firm while American Telephone convertibles dropped to new lows. Baltimore & Ohio convertibles Rock Island issues Interborough Metropolitan 4 4 9 8 s New York Gas and United States Steels faced selling pressure.
Ann Arbor real Balt and gold figures show total sales of 1 584 000 with 936 000 on Saturday and 2 055 000 a week ago. Year ago sales reached 2 302 000. From January 1 to date the balance is 396 461 900 compared with 564 298 000 a year ago.
The local curb exchange shows Mexican Metals as the sole feature with a price decline to its low point of 54. Calaveras ajestic and Gas remain among the other noted issues as market fluctuations continue.
Kerr Lake Mining declares a regular quarterly dividend of 25 cents per share payable Dec 15 to holders of record Dec 1. United States Realty & Improvement Co. pays a quarterly dividend of 13 1/2 percent payable Nov 1 to stockholders. Mini Clar Mining Co. declares a regular quarterly dividend of 1 percent payable Oct 30 with books closing Oct 20.
Cotton goods makers expect price increases to cover higher raw cotton costs. Raw cotton rose from 10.83 on Aug 14 to 13.97 on Oct 2 and may stay high without favorable reports from Texas Oklahoma and other cotton belts. Staple cotton remains cheaper per pound but has also risen due to scarcity. Brokers warn the future cotton market remains a difficult problem to forecast.
Upto mid September Boston New York and Chicago brokers anticipated an exceptionally large cotton crop surpassing 1911-12. Texas storms cut its crop drastically while other southern areas suffered dryness and rot but later reports cheered the outlook with estimates of 14.5 to 16.9 million bales. Brokers say prices reflect conditions and South based offers with limited coordination.
Medford awarded a temporary fifty thousand dollar loan to Reddington Fish, maturing April 3, 1914, with bidders including R L Day Co and Blake Bros & Co. Northampton sold ten thousand dollars of four and three quarters percent sidewalk bonds dated October 1, 1913 payable two thousand annually 1914 18 with bidders such as Paine Webber Co and Clement Parker Co.
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