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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 06, 1925
Page
16
Heavy selling drives broad stock losses on January 5 with industrials and specialties showing declines of one to four points. Rails resist the pressure with major names like New York Central and Illinois Central reaching multi year highs, while high grade issues advance modestly on renewed investor demand.
New York bond prices held a firm tone with irregular individual moves. Railroads showed group strength as high grade and semi spec copper liens advanced. Magma Copper’s stock offering sparked a sharp 9.25 point drop in its 7 percent bonds, while Chile sixes fell 1.25 points. Several convertible issues rose with stock gains as New York Central converts hit a new high with shares above 122.
Bond activity showed gains for New Haven Missouri Pacific and St Paul issues while Seaboard Chicago Great Western and Norfolk and Western fell back. United Kingdom 51 2s rose to 117 amid firmer foreign debt. A $30 million Federal Land Bank issue and smaller offerings were readily absorbed.
In New York January markets raw sugar remained unchanged with spot Cuban at 1.65 duty paid, refiners outside town paying higher. Sales totaled 19,000 bags for prompt shipment at 4.77 and 12,000 bags for February at 4.65 to outport refiners. Futures fell 3 to 5 points on Cuban receipts and European selling.
Market notes show ace 2.82 March, 2.93 May, and 3.05 July for refined sugar. Prices eased 25 points on granulated sugar from 6.50 to 7.10 with prompt shipment. One refiner offered 6.25 for January 12 to 24 shipments. Demand remained light and hand to mouth. Refined futures were nominal.
New York dairy report shows butter steady with creamery items rising to 41 2 45 for extras and up to 98 91 scores for creamery firsts. Cheese remains firm with state whole milk flats priced around 23 1 2 to 24 1 2. Flour is steady.
In New York, January 54, the dry goods market showed instability as cotton prices wavered and hints of wage revisions in woolen and cotton mills unsettled trade. Cotton goods stayed quiet, gray goods eased slightly on small sales, and yarns were quiet and easy. Pricing of fall woolens may be delayed to month’s end as buyers return in larger numbers.
Chicago wheat futures slipped today amid claims Argentine wheat would reach Europe at lower prices than U S grain. The exchange saw a sharp setback as traders weighed international supply and price competition against United States exports.
Real estate ad listing multiple six to seven room homes with prices and terms across Essex Street Penn-Mar Ave View Ave Union College Giles Lee and Jiles Streets plus Bluefield Ave business property for sale at $8,000 with monthly rent details. Includes hot water heat hardwood floors brick bungalow and lifestyle notes.
Chicago closing quotations on wheat were unsettled, showing declines of 1 to 3 5-8 cents. May futures traded around 1.74, July near 1.52 1/8. Corn slipped 1 3/4 to 2 cents, oats fell 3/4 to 1 1/4 cents, and provisions declined 0.1 to 0.5 cent.
Transfers show KE W Clarkson and wife to F M Sutherland lot 7 section 886 Bluefield for 6500 Matoaka Realty to B W Wyatt tract six Matoaka Farms 700 George P Crockett as special commissioner to H G Steele lots 3 and 4 section 1005 Bluefield 4600 P L West and wife to J C Kester et al three tracts near Princeton 1 Elizabeth Gilkeson and husband to Hazermary Strother Wilmore lots 4 and 5 section 1003 Bluefield 4000 Elizabeth J Brians to B J Fain lot near Princeton 150 Diamonds gave a disagreeable odor when reduced to powder.
New York stock market faced heavy profit taking as bears overwhelmed prices with large blocks and stop loss orders. Total volume neared 2.37 million shares, marking the largest session since December 5, with declines led by General Electric from 315 1-8 to 304 1-2 and closing near 305 1-4 after a net loss of 7 3-4.
Chicago livestock receipts show 26,000 cattle with strong yearling and heavy weight steer activity, 89,000 hogs with mixed declines and top at 11.00, and 16,000 sheep with fat lambs up 25 to 50 cents. Buyers note broad shipping demand for cattle and narrowing demand for hogs.
West Virginia Bluefield notice calls a special stockholders meeting for January 16 1925 at 3 pm in Scott building Bluefield to consider increasing capital stock from 50000 to 100000 by issuing 500 new shares of 100 each and authorize the president to act for effect. The meeting will also cover other business. Stockholders holding over one tenth of the total stock are urged to attend.
Colorado numbers show 17.25 to 17.50 for some items. Fat sheep and feeding lambs quoted 25 cents higher. One top at 10.00. bulk 8.50 to 9.50. Bulk feeding lambs 26.00. 16.50 to 16.75 top 16.75.
Live poultry values show wide spreads by freight and express options with chickens and fowls varied across freight and express rates. Dressed poultry prices remain firm with chickens and fowls quoted, while turkeys and ducks list regional and frozen ranges.
Seed prices in Toledo dated January show Wheat cash at 1.88 1.89. Cloverseed cash old 19.40, new and January 19.50, February 19.60. Alsike cash old 13.10, new and January 13.25, March 13.50. Timoth seed cash and January 3.35, March 3.45.
New York January 5 unfilled orders of the United States Steel Corporation for December are expected to show another large gain. Estimates place the increase at 400 000 to 590 000 tons based on shipments for the first 24 business days of the month. The November gain was 506 699 tons.
Bluefield West Virginia invites bids for equipment for the Municipal Building including library fixtures. Bids received at City Manager’s office Coal and Coke Building until 2 pm January 20 1925. Each proposal requires a $200 certified check as good faith. Clarence Br Ridley City Manager.
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