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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 08, 1917
Page
10
The stock market shows persistent weakness in several overlooked issues after a broad selloff. General Motors fell to a new low post-reorganization while government bond plans and price fixing concerns shape trading. Foreseeable bond offerings and foreign trade figures hint at continued volatility as crops show improvement.
The demand for silver exceeds world production driving prices upward. The article in Timely Investment Suggestions analyzes the silver situation and stocks likely to be favored by future coinage needs.
Total sales by market and period show New York with 617 600 shares and Boston with 12 678 shares. American Agricultural leads gains in New York while General Motors drops. Calumet & Hecla tops Boston gains and Atlantic Gulf falls from 33 34 to 95 34.
The New York stock market opened chaotic after Washington announced the Shipping Board would cut ocean freight rates by 65 to 75 percent. Steamship shares led declines while rails and major industrials fluctuated with General Motors and United States Steel at notable moves. Total volume reached 615 000 shares as money markets showed limited movement and bonds remained heavy.
Market report lists high and low quotations and closing figures for Boston and New York stocks. It notes net changes from the previous close and summarizes the day’s trading activity.
The report presents prices of new United States bonds in units and fractional hundredths. The decimals in the table denote hundredths with examples such as Cit Cen tain 143s and 103 indicating typical quotation style in bond markets.
Boston market shows scattered gains at session end while Atlantic Gulf United Fruit and United Shoe weaken on freight rate controls and coastwise trade concerns. New Haven slides raise fears of receivership as a copper sale to allies plus ongoing demand signal potential future purchases.
At a Colony Truett Company executive committee meeting Amasa W. Bosworth and Charles W. Stevens were named assistant cashiers. Harold V. Raymond, after six years with Adams & Co., joins Paine, Webber in the bond department.
Homer St. Clair Pace, a New York CPA, will address Boston accountants and business people at Tremont Temple on Sept. 11 at 7:30. Pace, a pioneer in accountancy education, leads a network supervising 51 schools in 45 cities with his brother Charles A. Pace.
Federal grand jury in Chicago probes I W W and Socialist offices seized nationwide. Evidence points to German funding and leadership from Chicago, with thousands of letters and checks under review. Officials say results are satisfying and may lead to further grand jury actions across the country.
Chicago dispatch reports federal raids on the I W W and Socialist headquarters uncover a plan to halt munition and power production in the United States and allies. Correspondence with English Socialists and German leaders indicates postwar revolution aims and calls for full franchise. indictments likely next week against Socialist leaders.
John D. Willard of the Massachusetts Food Commission reports the season's bumper peach crop at 375000 bushels, the largest on record though about 30 percent below early estimates. Freight-car shortages may hinder price reductions, but the State board backs special delivery arrangements to move purchases to market.
The piece reports a single vessel arrival at South Boston fish pier, the Hortense, with 21 000 pounds of cod and smaller amounts of scrod haddock and pollock. It notes wholesale prices for haddock and cod, weekly groundfish receipts, ship arrivals, a collision near Santa Point, and a hull report on the 180-ton Essex yard schooner sale for Panama trade. It also covers Lee Ong Tia’s recovery after a steamer fall and his deportation, plus the loss of the Portland schooner Hockomock and the rescue of its crew by Bessie and Eunice.
Berlin dispatch reports German cavalry in successful actions against Russian rear guards up to 40 miles east of Riga as they pursue retreating units northeastward from the Dvina region. Army headquarters announced today.
Current prices show brokers loans from 54 to 6 percent and customer loans at 5 to 6 percent. Year money stands at 5 percent. Silver and Mexican dollars quoted in New York. Foreign exchange markets report demand sterling around 4.75 to 4.76, with other currencies such as guilders and lire provided for reference.
The partnership in watch jewelry and auction business at 587 Washington St Boston Mass under Marks Colmes is dissolved by mutual consent Isidor Colmes will continue the business All bills due to the partnership are to be paid to him Sept 3 1917 Boston Mass Mor ris Marks I Colmes
Local ad seeks to purchase old coins including cents and fractional values. WM Hemke buys at 101 Tremont Avenue offering prices per coin and will pay cash on the spot.
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