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This newspaper page contains 16 articles. Subscribers can read the full text of each article.
Newspaper
Boston Post
Location
Boston, Massachusetts, United States of America
Date
Sep 30, 1914
Page
16
The article analyzes how the European war depresses copper prices and U S production, with 1914 figures showing a large U S surplus and sharply reduced foreign demand. It projects monthly surpluses, potential world deficits, and future demand tied to postwar rebuilding and steel copper needs.
Direct private wire from New York reports purchases of listed and unlisted stocks and bonds at current market prices. Investors engage cash purchases through a private wire service.
Bond dealers report a cheerful mood as New York city notes sell well and Tennessee notes yield 7.05 percent. The NYSE allows limited trading of listed bonds under supervision and unlisted securities with moderate concessions, signaling a return to normal trading. Tax-exempt activity is modest and some firms recall salesmen to the road for investor outreach.
London money markets quote money loaned at 11 to 2 percent on call and January bills at 31 5 to 31 4 percent. The Bank of England reports heavy premoratorium activity while stock prices stay steady. Amalgamated at 47, Steel at 49 3 4, Canadian Pacific at 159 1 4. Brokers say trading is difficult and only about a fifth of orders are executed as sellers are scarce.
The note confirms Ginger Pop is ongoing and invites readers to enjoy a humorous comic in the upcoming Sunday Post fun section. It frames the strip as a lighthearted feature and hints at continued availability.
The market shows continued strength in foreign exchange as sterling trades near $5.00, bolstered by reduced exports in August and overall weaker cotton demand. The British moratorium extension affects bills of exchange, prompting quicker dollar purchases before October 4. Time money rates hover around 7 percent, with various broker and commercial loan figures noted.
Henry L. Doherty & Co. publishes Sir Arthur Eliott of Eliott & Co. London who notes New York is more upset over events and war news. He says English surplus capital will seek U S investments and a government loan in London was greatly oversubscribed. English bankers remain hopeful to protect business and credits.
About 60 stockholders attended the Walpole Tire & Rubber Co meeting held under receivership. Judge Harris noted 800 holders with 241 women, monthly earnings of at least $20,000 since receivership, and $160,000 paid to creditors in six months. The joint stock committee led by A W Anthony and C H Draper received a confidence vote and will negotiate with creditors.
Almost all banks and trust companies in Greater New York join a $100,000,000 gold pool leaving only New York Life Insurance & Trust and New York Produce Exchange Bank as exceptions. New York’s $45,000,000 share is expected to be fully subscribed while other cities report strong support. The clearing house committee cargos ahead with routine steps before the initial 25 percent payment, likely late this week.
Union Pacific reports August gross of 8.47 million dollars and net 3.47 million, up from last year. Boston and Maine notes exchange on Maine Railways near maturity. Atlantic Gas & Electric files bankruptcy petition with liabilities 5.24 million. Georgia Lighting pays 1.12 percent dividend. Reading Company mines run at full time. stock quotes show mixed results across several 1915 maturities.
Congressman James A Gallivan of Boston appeals in the House for a 40 foot channel for Boston harbor as Senate amendments to the rivers and harbors bill are reviewed. He says Boston’s port development should be a shared effort with federal help.
Massachusetts supports port efforts with 10.787 million dollars and 5.6 million spent by Port Directors since 1911 leaving four million available. Of 172 world ships over 500 feet, 27 were active in Boston in 1913. The world’s largest dry dock is under construction in Boston at 1200 by 150 feet. The Atlantic coast lacks docks for several large steamships and federal channels must be deepened to justify Boston facilities and protect maritime traffic.
Since 1911 Port Directors have overseen growth in shipping tonnage foreign trade and Atlantic passenger business. They urge government cooperation for a 40-foot channel to deepen Boston harbor after passing all investigations and stages.
The rivers and harbors appropriation bill, in Senate form, carries a general fund of 20 million for ongoing projects under War Department control. The House approved the substitute, defeating amendments, and the measure now awaits the President’s signature.
Illinois Central Railroad Company releases its annual statement for the year ended June 1914 showing totals for operating income 19,060,075 with surplus around 6.5 million before dividends, and a year’s surplus of about 2.0 million after adjusting entries. The report notes equal to 7.44 percent on 109,298,000 stock versus 6.01 percent prior year.
In the next Sunday Post Magazine Sherlock Holmes investigates strange bloody footprints in the continuing Valley of Fear tale. The installment advances the mystery with new clues and dramatic turns.
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