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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Oct 17, 1912
Page
16
Markets show strength with metal stocks active led by Canadian Pacific Union and steel issues. Express Company stocks fall sharply with Adams at 192, American at 185, and United States at 75, signaling mixed session moves across sectors.
Total sales show New York 509200 shares and Boston 24317 with steel leading in New York and Butte & Superior active in Boston. Jan 1 to date New York 104258100 and Boston 9435613 shares, vs last year 94964200 and 4961502. Largest gains Canadian Pacific in New York and Amalgamated in Boston, with U S Express and Island Creek as top losses. Call and time money ranges noted for both cities.
New York shares rose broadly with specialties and pooled issues leading gains as Canadian Pacific and Amalgamated Copper fueled strength. U S Steel and iron stocks advanced amid rising London demand, while late-session trading eased. Bond activity remained steady with total sales around 1.605 million par value.
Preferred dividend No. 14 declared a quarterly $1.500 per share payment. Record date for stock orders is December 165, 1912, with transfer by Stone & Webster Transfer Agents. Eligible holders listed in the official records.
On the Boston market October 16 the day ends with Butte & Superior selling over 4400 shares while North Butte adds around 3400. Fenway Park crowds pull traders away at noon as Boston secures the world championship. Copper stocks rise with Amalgamated and Anaconda leading the gains and dividends expected to rise.
Total sales 24 317 shares bonds 55 000. Assessment paid.
The Boston curb market showed no standout feature yesterday with Bay State Gas and Majestic posting large totals and only small price changes. Detailed fluctuations followed in later reports.
Fear of a Gulf storm extending over Texas gave the cotton market a steadier tone. Prices recovered modestly from yesterday’s lows as buyers and trade accounts stepped in. The rally faced resistance, with no large jump beyond about ten points, while unsettled weather forecasts and Gulf storm warnings supported the market.
The Street notes a likely rise in Amalgamated’s dividend to 6 percent and a 6.66 percent yield if priced to reflect the change. It cites copper histories, Balkan tensions, Bank of England rates, and observations of other stocks, including Canadian Pacific and American Smelters, while noting Amalgamated directors meet today and Smelters may raise and Amalgamated may not.
Ex-Dividend notices for American Malt Corporation preferred stock Greater Northern preferred Distillers Securities Corp Distillers Co of America preferred Illinois Central for meeting Standard Milling for meeting Western Maryland for meeting Close Franklin Mining for assessment Meetings American Railways Special meeting Chicago Northwestern
Tucker Burr joins Commonwealth Trust Company as a director and Reed-Prentice Company stock transfer agent. P. F. Sullivan becomes director of Bay State Railway and Old Colony Trust Company. J. M. Fitzgerald John T. Hendricks and A. F. Timmerman elected to Western Maryland Railway board. William H. White named comptroller of Reading Company and Philadelphia & Reading Railway Company. Southwestern Miami options Prospectors' group of claims in Globe district with first payment due March 1, 1913. Territory lies west of Southwestern Miami and adjoins South Live Oak.
The money market remains quiet as rates hold firm. Demand for crop moving from the West declines while New York call rate sits at 4 3 4 percent. Time money quotes show 6 1 2 percent for 60 days and 5 1 2 to 6 3 4 percent for 9 days to four months with 6 1 2 percent for five to six months. Local money and foreign exchange rates are listed.
Agawam awards 30000 per cent water bonds dated Oct 1 1912 maturing 1000 annually 1913 42 to Adams Co with Curtis Sanger and N W Harris Co as other bidders Attleboro invites bids by Oct 18 1912 10 am for 75000 four per cent serial coupon sewer bonds dated July 1 1912 maturing 5000 annually 1928 42
Boston letter argues that the New Haven Railroad’s trolley properties add value beyond direct earnings. It cites economies of shared ownership, reduced costs, and customer base effects, noting Providence improvements and a long term yearly surplus of about $1,000,000 across all lines.
A list of regular and interim dividend declarations with payment dates and stock record dates for companies including Sears Roebuck and Co Centennial Eureka Milling Co Emerson Brantingham Commonwealth Power Railway Light United States Envelope Coniagas Mines Canadian Goldfields North American Columbia Trust Julius Kayser Fort Worth Power Shove Lincoln Reading and Seaconner Mills with percentages and payment dates.
United States government bonds list equities with varied quotes across several issues. Total sales reached 1.6 million yesterday and 9.15 million for the week. year to date sales amount to 571.2 million versus 680.6 million a year earlier.
New York Metal Exchange quotes copper steady with multiple contract bids including October at 17.20 and electrolytic around 17.62 to 17.87. spot copper near 49.75 to 50.00 cents per pound. Lead remains quiet near 5.07 and 6.17 for bids. London market lists copper at £76 18s 9d spot with futures around £277 18s 9d. lead at £21 and tin spot £226 with futures £225 6s.
Dr Alexander Meiklejohn, former Brown dean, was inaugurated as Amherst College president in a ceremony attended by about 1000 delegates and guests. Several college presidents from New England, including Abbott Lawrence Lowell, Harry A. Garfield, William H. P. Faunce, and William DeWitt Hyde, assisted in the event.
Delegates from Harvard and Yale led the procession from Geological Hall during the inauguration in College Hall. President Meiklejohn urged that the college be intellectually based yet practically applied, stressing education as a public good and lifelong duty.
The Democratic gubernatorial campaign launches tonight with rallies in Worcester Webster and Brockton. In Brockton Congressman William G. Lentz of Ohio and Congressman James M. Curley will speak. Governor Foss with David I. Walsh attends Webster Music Hall. Worcester features Mayor John F. Fitzgerald, with Thomas H. Dowd and Judge John F. Meaney among speakers.
Matthew Hale, chairman of the Progressive State committee, calls for a united three party primary for the U.S. Senate seat to replace Senator Crane. He has written to Democratic Chairman Riley and Republican Chairman Hatfield proposing shared expenses.
Ex Mayor John Larrabee of Melrose filed nomination papers for the Governor's council on the Bull Moose ticket but was notified that the number of signatures on the roll is insufficient to make the nomination legal.
Steamship lines along the New England coast and into the provinces will come under single control. The final step is the absorption of the Long Island Sound lines owned by the New England Steamship Company, a subsidiary of the New England Navigation Company, owned by the New York New Haven Hartford railroad system.
The Eastern Steamship Corporation operates nine lines with 33 ships serving 81 coastal points from New England to Canada. Negotiations with the New Haven road seek sale of the New England Steamship Company to resolve competition under federal law, though officials stress no control or voting rights would arise from any sale to the railroad.
A. Morandi Bartlett of Brookline will face Riverbank court this evening over bets made by friends that he can escape from iron bound packing cases and a burglar proof mail sack. If he escapes unassisted, a post office employee will lock him inside the mail sack. Bartlett bets largely himself and aims to win the wagers.
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