Profit-Taking In Stocks Mixed Market Readings
Market irregular but most issues rise as rails and copper-steel shares react. investors show cautious optimism amid mixed local listings and varied readings across sectors.
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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 08, 1916
Page
39
Market irregular but most issues rise as rails and copper-steel shares react. investors show cautious optimism amid mixed local listings and varied readings across sectors.
Yesterday's total sales 1 003 159 shares in New York and 35 537 in Boston. Reading led New York with 122 600 shares and East Butte led Boston with 8 650 shares. Year to date shares: New York 105 006 710 and Boston 7 619 138. Compared to last year New York 99 218 400 and Boston 7 811 483. Notable gains Liggett & Myers 10 to 288 in New York and Inspiration 15 8 to 59 7 8 in Boston. Notable losses Kelly Springfield 234 to 82 in New York and United Fruit 11 2 to 165 in Boston.
New York market sees declines in prominent bull favorites with Merchants Marine and United Fruit slipping while Pacific Mail and Reading show gains. Copper and paper stocks move on improving demand as foreign orders support activity. total volume nears 1.94 million shares with bonds uneven.
American Woolen Company announces a dividend of 19.6 percent on preferred stock and 11.25 percent on common stock payable October 16, 1916 to holders of record September 15 1916. Transfer books close September 15 1916 and reopen September 18 1916. Massachusetts company stock exchange deposits urged by September 15 1916. Loews Theatres Associates declares regular quarterly 2 percent dividend and an extra 0.5 percent, both payable October 2 1916 to holders of record September 20 1916.
I RY Copper Range Company declares a quarterly dividend of 1.50 per share plus an extra dividend of 1.00 per share as Dividend No 32 and 33 respectively to stockholders of record August 29 1916 with payment set for September 15 1916 Frederic Stanwood Treasurer Boston August 17 1916 Utah Consolidated Mining Company announces a dividend of 0.75 per share payable September 25 1916 with record at noon August 29 1916 H Mellin Secretary New York August 29 1916
Boston market trends reflect strength in copper alongside steel gains after a steel-led rally. Anaconda remains behind steel on earnings but both sectors show substantial price spreads. New Portland Cement issue oversubscribed with $8.50 per share profit for subscribers’ preferred stock. Ahmeek directors expected to raise quarterly dividend to $4. East Butte and North Butte production comparisons are noted but amid ore-source differences.
Seaboard report lists high low and last prices for Sept 7 with yesterday's last sales. Entries include Adams Express Ajax Rubber Alaska Allis-Chalmers and others with minor price shifts and trading volumes.
An advertisement touts frequent extra dividends from Motor securities. Packard shows 50 percent, Studebaker 37 percent, Chandler nearly 2 million earnings, Ford profits at a million weekly. It cites Miss Couzens of Detroit who invested 100 dollars and collected 47000 in dividends while still holding stock.
Boston September 7 market barometer shows highest and lowest prices for today and last sales yesterday. Details track daily commodity values and trading activity.
The New York Stock Exchange logged a third straight million share day as part of an eight million share run this year. Investors rotated into normally quiet issues like General Electric and Pacific Mail while steel and railroad stocks showed mixed strength and Inspirations Copper rose to a fresh high.
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