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Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 26, 1910
Page
14
The stock market shows no material change over a month with industrials and rails trading within a narrow four week range. Averages remain near prior levels as prices hold steady and appear temporarily pegged with limited movement and muted responses to market forces.
The week saw a mixed bag of market forces with a special master ruling Minnesota rate laws confiscatory and briefly lifting rail prices, followed by a return to inertia. A Commerce Commissioner’s warning against rising rates had only a temporary effect as politics and tariffs loom. Growth signals remain weak across steel, sugar, and foreign trade, while Phelps Dodge buys Rock Island and Boston & Maine shifts to New Haven leadership, yet overall the market stays listless.
James Lyman Whitney longtime Boston Public Library administrator dies at his Cambridge home at Divinity Road. He served as librarian from 1899 to 1903 and led the department of documents and statistics until ill health forced retirement. Funeral Tuesday at his Divinity Road residence with Rev. Samuel M. Crothers officiating. Interment in Northampton. Survived by brother Henry M. Whitney.
Washington reports the Treasury believes there will be no money shortage this fall nationwide. Banks have strengthened reserves and tightened loans, crops are bumper, and an expected $170 million in dividends next month will add to circulation.
Senator Morgan G. Bulkeley of Connecticut joins the senatorial committee probing William Lorimer’s Illinois election in Chicago. The inquiry begins with State Representative Charles A. White, accused of being paid 1000 dollars to vote for Lorimer, expected to testify all day, with H. J. Beckemeyer also summoned.
The piece argues that despite a dull period, some believe the bear market may be over, as stock declines already discount political events. It warns that tariffs and overhangs in general business could trigger expert commission reviews, while noting capital must earn a reasonable return and that commodity liquidation drives stock prices in the near term.
California Consolidated Oil Company plans to acquire leading California oil properties build pipelines storage reservoirs and refineries. Rear Admiral Robley D Evans leads the venture with a forged board of California bankers and operators and an underwriters syndicate offering 10 000 000 shares at 60 cents each with a 100 share minimum.
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