Pacific Gas and Electric seeks bids for notes sale
Pacific Gas and Electric Company invites sealed tenders for sale of 2.5 million par value of its one year five percent gold notes maturing March 25 1915 from an outstanding 7 million issue. Tenders due October 27 1914 at Bankers Trust Company 16 Wall Street New York. Accrued interest through October 31 1914 $5 per 1000 note added by committee and prices exclude interest.
MENTIONED IN THIS ARTICLE
Pacific Gas and Electric Company
Bankers Trust Company
Wall Street
N. W. Harris & Company, Inc
New York
New York City
Seaboard Air Line Pref Dividend Passed By Board
The Seaboard Air Line Railway Company announced that the quarterly 1 per cent preferred dividend is passed. The issue totals $23,894,100 at 4 per cent non cumulative, with 87,019,400 in common stock. Last year gross earnings exceeded $25.2 million, net $6.98 million. The system spans 9000 miles across Florida, Alabama, Georgia, North Carolina, South Carolina, Maryland and Virginia, plus Chesapeake Bay shipping.
MENTIONED IN THIS ARTICLE
Seaboard Air Line Railway Company
Seaboard
Seaboard Air Line
Florida
Alabama
Georgia
North Carolina
South Carolina
Maryland
Virginia
Chesapeake Bay
Financial Notes Reflect Mixed Bank and Rail News
American Bank Note directors defer common dividend action. United States District Court in New York denies Heinze bankruptcy appeal. Detroit Edison reports September gross rise to 68,989 and net 201,932 with nine months gains. Hillsboro County Florida bids sought for 500,000 in gold bonds. Copper exports rise with 154 tons on Wednesday and 16,659 tons since month start. Lehigh Valley reports September gross 3,915,827 and net 1,110,038 with nine months results. Anyox smelter expected to produce 1,800,000 pounds copper in October, a new record. Edward D. Adams joins Western Maryland Railway executive committee.
MENTIONED IN THIS ARTICLE
Detroit Edison
Lehigh Valley
Hidden Creek
Edison Electric Announces 4.00 Dividend for Brockton Stockholders
Edison Electric Illuminating Company of Brockton declares a semi annual dividend of 4.00 per share payable November 2 1914 to stockholders of record at the close of business October 15 1914. Stone Webster transfer agents.
MENTIONED IN THIS ARTICLE
Edison Electric Illuminating Comany
Brockton
Stone & Webster
Island Greek Goal Company Declares 60 Cent Dividend
The directors of the Island Cree Company have declared a normal dividend of 60c per share on the common stock payable November 2, 1914, to holders of record at the close of business October 23, 1914.
MENTIONED IN THIS ARTICLE
J. G. Brill Company
Island Greek Goal Company
Common
Island Cree Company
Grain Markets Mixed Movements With Declines Noted
Cert. ’22 grain prices showed active fluctuations with profit taking at times. Corn slipped as December mild gains faded. oats stayed steady with modest declines. Wheat in Chicago and outside markets displayed varied open, high, low and close readings, while cash markets listed No. 2 and No. 3 grades across corn and wheat with mixed premiums and discounts.
MENTIONED IN THIS ARTICLE
Chicago
Tors Ausie Sciaw
Orb
New York
Seceteocsis
Minneapolis
Tsien
Louis
Togo
MILI
Pennsylvania R A Now Has 91000 Stockholders
Pennsylvania R A reports 91000 stockholders, the largest in the system's history, with 487 thousand shares held by 0.975 million individuals. Women hold 48 percent of the total, and Pennsylvania residents number 20,013, with New York at 15,499 and New England at 16,548 stockholders. Abroad holders total 11,455 as of the November dividend.
MENTIONED IN THIS ARTICLE
Pennsylvania Railroad
Pennsylvania
New York
New England
Riker Hegeman Cuts Par Value Of Stock Shares
At a special meeting of stockholders the Riker Hegeman Drug Company voted to reduce the par value of both common and preferred shares from 100 dollars to 5 dollars. The change expands authorized shares to 2,000,000 common and 1,000,000 preferred at the new par.
MENTIONED IN THIS ARTICLE
Riker Hegeman Drug Company
Massachusetts Gas Companies September earnings dip
Combined net earnings available for dividends of the Massachusetts Gas Companies subsidiaries for September totaled 220287 dollars, down 6848 dollars or 3.02 percent from the same month a year earlier, signaling a modest decline in profitability.
MENTIONED IN THIS ARTICLE
Massachusetts Gas Companies
Over Year Loans Show Money Free New York
Over year loans priced at 6 percent reflect abundant cash in New York with savings banks and insurers lending more freely. 60 day loans near 6 percent and call money show an easier trend, all secured by high class collateral, yet stock market sentiment remains pessimistic.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Stock Exchange
Market Summary Shows Deep Depression With Low Exchange Sale
The sale of an exchange membership at 34000 dollars marks a multiyear low. London rates barely change as market dulness follows ships leaving port. Brokers see more activity in short term notes and high grade bonds while active stocks slip in the unofficial market. Cotton pool talks progress slowly with banks demanding Fed oversight. Southern banks secure loan renewals amid anticipated cotton plan impact. Cotton exports fall due to few vessels, and gold transfers to Canada bolster Bank of England credits via Ottawa, with estimates around 25000000 dollars. Bank of England weekly gold rise adds 4137000 dollars plus 7500000 received today, largely from the United States.
MENTIONED IN THIS ARTICLE
London
New City
Federal Reserve Board
Canada
Bank of England
Ottawa
Commonwealth to Absorb The Hamilton Trust
The Commonwealth Trust Company will take over the Hamilton Trust Company following a stockholders meeting on October 26 to approve the merger. The move follows state laws limiting cross ownership among trust companies. The combined bank will gain 2.5 million in deposits to reach 15 million, with Hamilton branches at South End and North Station becoming Commonwealth branches and three other offices retained. George S. Mumford serves as president with Arthur P. Stone and Stephen R. Thlmes as vice presidents and treasurer duties assigned to Stone.
MENTIONED IN THIS ARTICLE
Commonwealth Trust Company
Hamilton Trust Company
Hamilton
Commonwealth
Hamilton Trust
New England National Bank
South End National Bank
South End
North Station
Congress Street
Summer Street
Washington Street
Dover Street
Commercial Street
George S. Mumford
Arthur P. Stone
Stephen R. Thlmes
Mr. Stone
A. R. Smith
C. E. Valentine
H. M. Richmond
Curb Stock Movements Show Quiet Trading Day
Boston market notes a four cent drop in Eagle and Blue Bell to 82 cents, a ten cent fall for First National to 65 cents, a new low, a six cent rise for Nevada Douglas to 44 cents, and minor movement in Joss In Verde Extension to 1 dollar. Detailed fluctuations follow.
MENTIONED IN THIS ARTICLE
Eagle & Blue Bell
First National
Nevada
Douglas
Joss In
Verde
Prey High
Noo Bay State Gas
Butte & London
Eagle & Blue B
Roldfield
Onso
la Hoeg
Nevada Douglas
United Prof
United
Money Markets and Bank Updates From Oct 2 Quotations
Boston money markets show loans to customers at six percent and outside broker loans at seven percent upward. Commercial paper yields six to four and year money six percent. Silver in New York down fifty cents. New York funds and exchanges show varied balances. sub treasury deposits and bank losses noted from Friday to date.
MENTIONED IN THIS ARTICLE
Boston
Ss Ware
New York
Treasury
Erdes
Walker Defends Primary in Massachusetts Rallies
Progressive gubernatorial candidate Joseph Walker spoke in Leominster and Pepperell defending the direct primary system and warning against a return to the old caucus and convention methods. He argued the direct primary curbs machine influence and gives voters direct choice, while noting no system guarantees good candidates. Other speakers included Charles Sumner Bird and Russell A. Wood with rallies in Mansfield, Franklin, East Pepperell, Leominster and North Attleboro.
MENTIONED IN THIS ARTICLE
Joseph Walker
Leominster
Pepperell
Charles Sumner Bird
Walsh
Pearson
Purc
Russell A. Wood
Arthur M. Huddell
George McKinnon
George P. Webster
Anna C. M. Tillinghast
James P. Magenis
Mansfield
Franklin
East Pepperell
North Attleboro
London situation under moratorium and money markets
London cables report money easy at 1 to 11 2 per cent while bills remain scarce at 3 1 8 per cent. Saskatchewan bills maturing will be paid 25 per cent and renewed at 6 per cent. Moratorium ends soon. Brazilian exchange improves boosting demand for steam and traction of Brazil. Mexican rail traffic heavy. Yesterday 25 million dollars British treasury bills three times oversubscribed. Bank of England eased discount on pre moratorium bills. Discounts softer. Two months bills quoted 2 1 2 per cent.
MENTIONED IN THIS ARTICLE
London
Saskatchewan
Brazilian Exchange
Brazil
British Treasury
Bank of England
Dividends Declared by Major Companies This Quarter
A list of quarterly and semiannual dividend declarations from firms including American Window Glass Cambridge Electric Light Cleveland & Buffalo Transit Grand Rapids Railway Kellogg Switch Board Montreal Light Readings W H McElwain Warwick Iron and Steel North American Reading American Brass Grand Rapids Hollinger National Lead Norfolk & Western and Silversmiths Co with amounts percentages payable dates and stock record cutoffs for Oct Nov and Dec periods.
MENTIONED IN THIS ARTICLE
American Window Glass Company
Cambridge Electric Light Company
Cleveland & Buffalo Transit Company
Grand Rapids Railway Company
Kellogg Switch Board and Supply Company
Montreal Light, Heat and Power Company
W. H. McElwain Company
Warwick Iron and Steel Company
North American Company
Reading Company
American Brass Company
Hollinger Gold Mines, Ltd
National Lead Company
Norfolk & Western Railroad Company
Silversmiths Company
Rock Island Bond Situation in Wallace Committee Talks
N L Amster and about a dozen stockholders of the Chicago Rock Island Pacific Railroad own bonds valued at 2 million dollars not yet deposited with the Wallace committee. Amster reportedly holds over 5 million dollars in bonds on deposit. Bonds deposited with the Wallace committee totaled 293 thousand dollars on Wednesday, bringing the overall total to 34.276 million dollars.
Real income tax urged by Walsh in Massachusetts
Governor Walsh speaks at rallies in Salem and Peabody urging a real income tax to tax intangible property. He claims the tax commissioner cannot reach intangible assets and says the state is losing 5 billion dollars that should be taxed.
MENTIONED IN THIS ARTICLE
Massachusetts
Walsh
Salem
Peabody
Tax reform pitch targets reduced living costs and fairer taxation
The speaker argued that proper legislation could return taxes to levels from a decade ago and cut the high cost of living. He labeled the current tax system unjust for placing heavy burdens on renters and small homeowners, citing the legislature's constitutional limits and calls from public-spirited men for a constitutional amendment.
MENTIONED IN THIS ARTICLE
Walsh
Republican Platform Fails to Take Stance on Tax Reform
Speech highlights Republican evasion on intangible property taxation and a proposed constitutional amendment. John F Fitzgerald defends Wilson tariff, predicting renewed activity for New England textile industries against foreign competition.
MENTIONED IN THIS ARTICLE
John F. Fitzgerald
New England
Witzgerald
Quarterly Report on Brooklyn Rapid Transit Surplus Over Fixed Charges
Brooklyn Rapid Transit Company issues its first quarterly report for the three months ended Sept 30 showing a surplus over fixed charges of 1,920,224 and a year ago gain of 342,810. Gross receipts reached 7,239,787, up nearly 10 percent. operating expenses were 3,887,865.
MENTIONED IN THIS ARTICLE
Brooklyn Rapid Transit Company
Bostonians Add Three Directors to Distillers Board
Stockholders of the Distillers Securities Corporation yesterday filled vacancies by electing Albert M. Parlin Charles F. Ayer and Crawford Livingston to the board Other directors chosen were A W Krech and James F Broadhurst
MENTIONED IN THIS ARTICLE
Distillers Securities Corporation
Boston
Albert M. Parlin
Charles F. Ayer
Crawford Livingston
A. W. Krech
James F. Broadhurst
Municipal Bonds See Strong Demand Across Cities
Bankers report unusually brisk demand for municipal tax exempts following Springfield sale success. Medford and Quincy have entered the market with Permanent bonds and notes, while Boston bonds move well after price cuts. Serials to 1924 sold at 414 percent, other maturities at 98 plus interest.
MENTIONED IN THIS ARTICLE
Springfield
Abe
Medford
Quincy
City of Boston
Bank of England Weekly Statement Highlights
The weekly Bank of England statement shows circulation at £34,798 this week, public deposits £15,764, private deposits £143,058, and government and other securities totaling £132,871. Reserves stand at £43,718 with the reserve ratio at 27.52 percent, unchanged from last week’s 26.46 and well below last year’s 56.25 percent. The minimum discount rate remains at 5 percent.
Russia to issue 125 million dollar bonds this year
A Petrograd despatch reports the Russian government plans immediate issue of 25,000,000 pounds in bonds, valued at 125,000,000 dollars. London is expected to take 12,000,000 pounds, about 60,000,000 dollars.
MENTIONED IN THIS ARTICLE
Petrograd
London
France Sells $45 Million in National Defence Bonds
A London report says the French government has sold more than 45 million dollars in national defence bonds through French post offices since mid September.
MENTIONED IN THIS ARTICLE
London
France
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