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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 07, 1925
Page
6
The notice reports price specifics from 6.060 to 7.10 for prompt shipment with one refiner selling at 625 for shipments after Jan. 12. Demand is light and refiners largely accept Jupiter at 6.50. Dressed poultry prices are listed with Fowls at 17 to 30 cents, turkeys at 2.42, and frozen western and southern markets at 31 to 39 cents.
New York stock market rose briskly led by Atchison Railroad and American Smelting. Declines in some rails were offset by gains in Jersey Central and New York and Harlem. Steel, sugar, and utility issues rallied on improved outlooks and a $1.25 dividend.
New York money rates firmed with call funds at three percent and more offerings at lower yields. Buying orders rose for high grade and speculative bonds while the St Paul Railroad refunding remained unresolved, sparking a rally in anticipation of a February decision. Net gains in six active issues ranged from one to two points, with several rail bonds showing noticeable improvement.
Century bonds rose 148 points while sugar issues in Cuba and Manall improved in sympathy. Wayne Copper retriever values gained as markets reacted to yesterday’s trading. A prospective loan of 12 million dollars for August Thyssen Iron Works appears under negotiation, with talks nearing completion and a larger issue anticipated in municipal markets.
The raw sugar market weakened with larger offerings and Cuban sales for prompt shipment at 4.69 cents, down 0.16. European crop warnings and rising spot supplies sparked renewed selling pressure in futures, with prices near the day’s low and still below prior close, while beet sugar estimates and futures for January May July contracts show varied declines and gains.
Cotton goods were quiet with slight price easing on some prints and linens. Burlap sockets steady with weaker Calcutta prices. Wool goods markets quiet amid buyer hesitation on Western prices. Raw silk firm with crepe demand in plain shades printed effects and fine weaves.
Strong demand for grain and milling products lifts Chicago wheat prices. An estimated 200,000 bushels, mostly domestic, shipped to Europe. May at 1.77, 7-8 at 1.78, July 1.4 S to 1.44 1-2. Corn and oats rise slightly. provisions steady.
In New York on June 6 a dairy market summary reports unsettled butter with creamery prices higher than yesterday. Butter grades show extras at 92 1/2 with firsts around 88 to 91 while gus remain steady to firm. Pacific coast Whites extras quoted at 6 1/2 to 7 cents. Cheese market firm with flour prices noted.
A New York report notes live poultry shipments by express arrive with mixed quality and pricing. Demand influences freight rates as buyers seek fresh fowls and chickens, with prices listed per unit and explanations of grading.
Advertises multiple city properties including six and seven room homes on streets such as OWN YOUR HOME NSSEX STREET VIEW AVENUE COLLEGIO AVENUE and CILES STREET. Listings show prices from $2,000 to $14,000 with terms, hot water heat, hardwood floors, and one two flats rental at $100 monthly.
Chicago cattle receipts reach 16,000 with moderate to strong demand and mixed price moves. Heifers and steers show gains while canners weaken. calves steady. Hog receipts near 76,000 with 15 to 25 cent declines, lighter weights hardest hit. prime weights fetch higher than light pigs.
Market items show lamb prices around 60 to 18.60 per hundredweight with bulk and fall clipped lambs varied. Cattle and sheep receipts noted as active with limited supply and strong demand. Stock action includes Atchison up four points to 123 then 119 5 8 after dividend news. a share high of 124.25 and close at 127 1 2 with a 14 point gain.
Speculators for the advance regained control of the price movement as the general market rallied briskly. The day saw about one and three quarter million shares traded amid a high reading for the market. Improved technical position followed yesterday's shakeout with call money rates down and dividend news from Atelifyon and American Smelting and Refining Company. New York Central common stock also benefited from a railroad market tilt.
In Toledo on January 6 the seed bulletin shows wheat cash at 1.91 to 1.92, cloverseed at 19.50 for new and January, 19.60 for February and March, Alsie at 13.10 cash and 13.25 January with 13.25 March 13.45 asked, Timothy at 3.55 cash and 3.45 for March.
The Public Service Commission in Charleston continued indefinitely the hearing on West Virginia Power Companys request to build a hydro electric dam on New River near Hinton. The session, originally set for January 8, is adjourned by agreement of counsel representing both sides after months on the docket.
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