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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jan 08, 1925
Page
5
New York trading turned reactionary as stocks paused after early gains. More than two dozen issues eclipsed 1924 highs, with gains in rail and utility shares followed by widespread downdrafts. Notable moves included Atchison dividend lift spurring rail buying and United States Steel dipping from peak levels.
New York January 7 lower money rates again stimulated bond trading today though convertible and other semi speculative issues made no bet.
Reports indicate a Belgium loan of 50 million dollars and a potential 40 million dollar Danish loan under discussion. American Smelting fixes aided by a six percent common dividend increase. The Consolidated Gas Company contemplates selling 26 million dollars in debentures. Porto Alcan offers 3 million in 5 percent improvement bonds at about 4.30 percent yield.
New York reports quieter cotton goods trading as yarns drop by half to one cent per pound and raw silk prices ease to align with a recent global decline. Spinners hold steady while knitwear houses show better activity amid shifting demand and rising robberies affecting shops.
Livestock market report from Chicago on January 7 shows cattle receipts at about 15,000 with yearlings and medium weights active but uneven. Demand in various weight classes remains varied, with heavy loads steady to higher, bulk feeders and cows uneven, and calves and butchers near 10.40 to 10.76 per hundredweight amid a slow, narrow demand.
The market shows mixed moves with declines of 1 to 2 points in some sections while demand remains steady from shorts and Cuban-connected buyers. Prices for sheep and lambs vary from 10.20 to 18.75 per hundredweight with top lambs around 16.70 to 18.50 for fatter lots. Refined sugar prices trend downward with granulated sugar at 6.25 to 6.50, and refiners largely operating at inside levels amid better inquiries.
Chicago grain market moved mixed with May wheat at 1.80 per bushel before profit taking pulled bids down to 1.79 5 8. May and July wheat quoted at 1.79 and 1.55 respectively. Corn gained 1 1 8 to 16 8 cents, oats up 7 8 to 11 2 cents, and provisions rose 17 to 30 cents under active general buying.
Butter steady after decline with creamery and extra class prices noted. Bees and henery whites show irregulars with extras and firsts shifting within narrow ranges. Cheese and flour markets described as firm with general stability across listed items.
Raw sugar in New York closed unchanged at 4 59 for Cuban duty paid. Local refiners reportedly bought about 76 000 bags for January shipment yesterday and today at that price, with futures closing without change.
Cozy six room homes across multiple streets with prices ranging from $5,000 to $14,000 on terms. Listings include five to seven room houses with features such as hardwood floors hot water heat brick bungalow and sleeping porch. A mixed property on Bluefield Ave includes store rooms and two flats renting for $100 monthly, offered at $9,000. REALTORS Yoders Balosmans Layne and Bow advertise contacts.
The New York poultry market reports January 7 figures with broilers at 38 12 by express and 28 by freight for leghorn hens, 29 32 by express, ducks at 32 45 by express, and fowls at 18 from a poultry firm.
Seed prices listed for Clover and Alsike with cash and new rates, dates in January, March outlook noted. Wheat cash price for 1936 shown among fragmented figures.
New York January 7 The Texas Company dividend is in danger of being reduced or omitted, according to C F Lafkin chairman of the board who said today that dividend requirements had been earned in the first eight months of the year.
Inland Steel reports capacity operations with estimated 1924 earnings around $1 million in Q4 and annual $5.0 million, signaling a strong cash position as expansion talks loom. Texas Petroleum Company of New Jersey becomes Texas Company subsidiary to explore South American leases, starting in Venezuela with later regional drift. Market observers note high rail and utility optimism, record rail prices, and grains rally on agriculture secretary’s price comparisons.
New York January 7. Stock prices crumbled again late today under heavy volume of selling. Fifty issues eclipsed the 1924 high, rail stocks led gains, and the general railroad avenue reached its highest peak since 1917. Total sales were about one and three quarter million shares. Heavy demand for rail stocks is expected as fifty issues climbed past earlier peaks.
Mrs Elsie M Anderson lay in a focal hospital in critical condition with a bullet wound to the breast believed accidental during a struggle for a revolver with KT Anderson. He reportedly drew and fired on another man earlier. no arrest was made.
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