Stock Market Observers Predict Activity Ahead
New York traders expect a market upturn before March 4 amid mixed news including Reading dissolution plans, Empire Transport Oil receiverships, and wage cuts at Frisco. Analysts note tighter money, rail disputes, and dividend changes as drivers, with Reading coal restructuring and Sinclair dealings signaling shifting leverage and potential upturn.
Heavy commodity prices fall over nine months
Dun's Andex index shows a 29.4 percent drop from last May's peak. January and December declines reached 6.4 and 6.2 percent respectively, with February marking the lowest level in four years. Excluding meat, most divisions were lower on February 2 than the previous month as deflation persists.
MENTIONED IN THIS ARTICLE
Dun
Andex
Decline in Food and Goods Prices in Early 20th Century Figure
The passage notes price declines across dairy and garden products 10.1 percent, breadstuffs 6.9 percent, and other food 7.2 percent. Overall foodstuffs fell 7.6 percent, clothing 6.9 percent, metals 7.4 percent, and miscellany 3.8 percent. Breadstuffs index marks its lowest since August 1, 1918.
Banks To Send Delegates To Macon Meetings
Savannah bankers plan to send representatives to the joint Georgia Bankers and Country Bankers association meeting in Macon on March 23 and 24. The Savannah banks have not yet announced their delegation.
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Savannah
Banks
Macon
Warner Marton
Lowry Bank
Atlanta
Georgia Bankers’ Association
J. E. Frizel
Country Bankers’ Assosiation of Georgia
Haynes McFadden
I. R. Adams
Bantta of
Wall Street Dull On Foreseeable Holiday Eve Trading
New York February 11 News of a double holiday suppressed trading to near standstill with only scattered activity in oil, steel and utilities. Reading rammed down by reports of a possible unfavorable segregation plan while most sectors showed minimal price moves. Bond market quiet as stocks stayed weak and Liberty issues rose. total par value sales reached 5 125 000. Clearing banks cut loans by 73 million, deposits fell, and excess reserves rose to 19 350 000. Foreign exchange stayed firm with solid bids for sterling and European currencies, while Scandinavian rates barely moved.
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New York
People's Gas
Western Union Telegraph
Twin City Rapid Transit
Reading
Switzerland
Market Briefs From Savannah and New York Commodities
Curbs on securities list Swift & Co and Swift & Gock with no sales. receipts show modest activity in rosin and turpentine in Savannah. Copper steady in New York. iron, tin and antimony futures cited. varied volumes and prices across metals markets.
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Savannah
Tacksonville
Zvn
New York
St. Louis
Praxcare
Further Reductions in Crude Oil Prices Across Regions
In Pittsburgh on February 11 the principal oil purchasing agencies announced a 50 cent cut in all crude grades, listing Pennsylvania crude at 4.25, Cabal at 2.96, Somerset at 2.25, Somerset Heat at 2.50, Ragland at 1.25 per barrel. Houston later reported a 25 cent drop to 2.25 for coastal crude, and 1.25 for roystal crude oil.
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Pittsburgh
Pennsylvania
Somerset
Somerset Heat
Houston
Texas
Gull Pipe Line Company Today
Gulf Pipe Line Company Today
Clearing House Banks Report Shows Excess Reserves Rise
The condition statement for clearing house banks and trust companies indicates an excess reserve of 19,847,550 dollars above legal requirements, up 3,254,800 from the prior week. Cash in own vaults and deposits with federal and state banks show mixed changes, with total deposits and currency movements noted and Liberty bonds quoted in the New York market.
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Aeton
Chonse
Tidal
Federal Reserve Bank
Cima
Greater
New York
Dearing House
New York City
United States
Wheat Declines On Profit-Taking Amid World Prices
Chicago and New York dealers reported modest losses in wheat as profit-taking offset support from rumors of export restraints and the belief that world wheat prices were high. March and May futures slipped while corn held steadier. oats and provisions fell back on selling pressure from large holders. Sugar and coffee futures showed firmer bias with refined sugar buying advancing.
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Chicago
Longs
Secretary of the Treasury
North Dakota
Kansas
Indiana
Ger
Ars Bentine
Grebranry
Coftes
TBR
Andl Santos
Santos Fritage
New ‘York
Seley aaa en ighite Pots Potatoes in Chicago Market
A fragmented note describes potato prices and bulk sales in Chicago. It mentions sacks and a price around $1.20 per unit, with unclear seller identifiers and receipt details. The readable core notes a potato trade entry and a rough market reference.
Markets Closed for Lincoln's Birthday
Trades and markets will be closed today in observance of Lincoln's birthday. Business resumes as usual on Monday.
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Lincoln
Dun's Statement on Weer's Business
New York February 11 Dun's comorrow will say the inregularities which still characterize the business situation are a natural accompaniment of the Process of economic readjustment. With conflieting forces generation, commercial revival as outcome in all quarters simultaneous ly, and a definite turning point is yet to be reached in some leading trades and industries. Unsettlement in prices with the trend continuing downward remained a cause for hesitation in different lines and such new demand as develops does not indicate that buyers are disposed to commit themselves extensively for the future. At prices much below the highest basis there is not the volume of purchasing that might be expected because various markets lack stability and orders are deferred to take advantage of probable further reductions. The number of small jet transactions, however, is increasing in certain directions, suggesting that some stocks are beginning to need replenishing and not a little machinery that way idle has started up again on part time schedules. New weekly bank clearings 5 891 893.
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New York
Stock Exchange
Southern Pacific
Theras
Guaranty Trust
J. P. Morgan & Co
Empire
Empire Transport Oil Company
W. K. Vanderbilt, Jr
B. R. Yoakum
Sinclair
Wallstreet
Standard
Frisco
Texas
South
Gary
Steel Corporation
Youngstown
Bears
Steel
The
Dun
Comorrow
Madame Melba Seriously Ill With Influenza
London report states Nell Melba, renowned opera prima donna, is seriously ill with influenza. The star recently performed in high demand engagements and remains under doctors supervision as fans await further word on her condition. Public notices urge endurance until a full recovery is announced.
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London
World Opera Star Melba's Early Vivid Debut noted
A special dispatch reports Madame Melba, born in Melbourne, Australia, holding a worldwide reputation as a grand opera singer. It recalls her debut in 1887 in Brussels as Gilda in Rigoletto, marking the start of a celebrated career amid notes of influenza in New York.
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Madame Melba
Melbourne
Australia
Brussels
Gilda
Rigoletto
Abrogation Appeal From Rail Chief Prompts Labor Pact Push
Savannah readers hear President W A Winkburn urge abrogation of national agreements and altered working conditions in a Right Way special edition issued by Central of Georgia railway. He argues for settlements based on pre government takeover terms to cut operating expenses. Also reports livestock and Americus medical news.
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Spexpalj
Central of Georgia Railway
W. A. Winkburn Mailas
Winburn
United States
United States Railroad Labor Board
Chicago
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