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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 25, 1929
Page
13
An early market strength faded as many stocks closed lower after a mid day rally. The index lost several points with declines of one to four, while Norfolk and Western edged higher to a new high amid the session.
Major industrials and utilities lead the day with varied gains and losses across the market. Trading highlights include Du Pont General Electric and Union Pacific among active movers as investors weigh earnings and demand signals.
The June 24 market opened with strength but fell into heavy selling as call money rose from 7 to 19 percent. Many stocks ended 1 to 4 points lower after early gains. Loans estimates ranged 50 to 80 million dollars while time money firmed. News remained mostly favorable with oil output rising in California and several corporate moves noted. Auburn Auto and Allis Chalmers surged to new highs while others climbed, though American Can faced late selling.
New York June 24 The bond market opened active after weeks of dullness though prices slipped irregularly on tighter credit. Converts dominated volume while railroad and oil issues and select utilities showed broader interest. Some oils traded heavily with small price moves. utilities were uneven with several names advancing and others slipping. Government bonds rose slightly on light volume and foreign issues held firm.
United States government bonds quoted with Liberty 3s at 96 First 444 at 98.28 Fourth 4s at 99.7 Treasury 444 at 107.1 Treasury 46 at 103.18 Treasury 38 at 100.22 Treasury 3s eight at 96.15 Treasury 3s at 96.15.
The Norfolk Terminal and Transportation Company, a Chesapeake and Ohio subsidiary, buys the Southgate terminal in Norfolk Virginia effective July 1. Estimates put the price between 750 thousand and 1 million dollars. Bethlehem Stock holders mostly subscribe to the one share for every three held at 85 dollars. C&O railroad May net operating income reaches 13,186,303 dollars versus 2,963,298 in May of the prior year.
Call money firmer with high 10 and low 7, ruling rate 7 and close at 10. Time loans steady with 30 days and 60 90 days at 8, 4 6 months at 7. Prime commercial paper at 6 and bankers acceptances unchanged.
New York June 24 AP reports foreign exchanges steady. Rates show Great Britain at 484 5-16 in demand and 484 13-16 on cables, with 60 day bills 479 3-4. Other currencies include France 3.91, Germany 23.82, Italy 5.22 to 5.23, and Tokyo 43.90 with Shanghai 57.85 as noted exchange references.
From June 25th to July Sth inclusive I will be absent from my office inspecting properties of Cities Service Company in the West. Business will be handled by my office as if I were present after office hours call Elizabeth G Cassell at 1955 J. Cc. B. Hancock.
Raw sugar markets in New York firmed with 1-16¢ gains as Cuban and Porto Rican sales for June and July shipment reached about 203,000 bags at 3.60 duty paid. Prompt shipments of 15,000 bags to another buyer traded near 3.56% duty paid. Final prices rose 2 to 4 points. July at 78, Sent. 185, Dec 1.96, Jan 1.98, Mar 2.04, May 2.12. Refined producers planned a 15 point price rise tomorrow.
Butter in Chicago on June 24 closed relatively firm for top scores while medium and undergrades held barely steady. Fresh 9% score and various 42 to 43 percent figures are listed, with centralized top scores around 90 and 89.
Cotton textile markets were quiet and firm while fine goods markets showed moderate activity. Spot raw silks were quiet and firmer and burlaps remained quiet and firm at higher prices quoted Saturday.
New York buyers received mixed poultry pricing on June 24 with ranges for fresh and frozen products. Fresh hens and fowls listed at 24 to 32 cents per pound, frozen items varied, and turkeys showed fresh at 25 to 45 cents per pound while other categories posted different figures.
Produce demand is moderate with cabbage strong in 15 car shipments. Ohio 100 lb crates top at 2.25 while poorer lots go to 1.75. onions steady in 2% car loads with Texas and California crates at 1.85 to 2.75 and yellows 50 lb sacks at 1.75. Potatoes 86 cars steady. No 1 cobblers from North Carolina 4.50 to 4.75, Virginia 1.00 to 4.25. old stock 150 lb sacks and No 1 Michigan rurals also listed.
Market listing shows prices for dairy and poultry items. Maine green mountaine and Bat'er Creamery products appear with price ranges, tubs and locals quantities, and receipts. New York full cream milk is cited with sharp percentage values, while poultry includes fresh killed hens hogs dressed live birds and various fowl prices across multiple entries.
Toledo grain prices listed for June 24 show Wheat No 2 at 1.24 to 1.25 per bushel Car No 3 yellow 96099 Oats No 2 white 50 to 51 Barley No 1 62 to 64 Rye No 2 1.06 Clover seed cash domestic old 16.00 cash domestic new 16.00 cash imported old 12.75 cash imported new 13.25 Sw cash old 2.80 cash new 2.80.
Wheat climbed 3 cents a bushel then eased about 2 cents as profit seeking tripped sales. Closing quotes showed wheat 1 cent above Saturday. Corn finished steady to down, soybeans and provisions moved within small declines to rises.
Baltimore livestock prices show cattle receipts and varied grades for steers heifers bulls and cows with figures for good to choice and medium categories. sheep lambs hogs and calves listed with ranges and receipts. Prices reflect market activity at Baltimore on June 24 according to AP.
Pittsburgh prices show hogs up to 25 to 50 cents higher with medium to choice hogs at 11.26 to 12.10 per unit, cattle mostly steady with steers 12 to 14.65 per 100 pounds and calves weak, sheep unevenly lower with ewes around 5 to 6.5 and lambs 11 to 14.50.
Redpath Chautauqua arrives in Biuefeld to erect the Augusta street venue for the 1920 season. Thursday's 3 PM program features the Jugo Slavic Tamburica orchestra with selections from noted composers and popular tunes. Juniors meet under Me Kerma Bradford. guarantor captains organize ticket sales duties.
The First Shinko commercial school of Kobe, defending champion, will sail in July for a Pacific coast tour of the United States after winning Japan’s all secondary school tournament. The squad, under Osaka Mainichi auspices, heads to Vancouver and Los Angeles with possible en route games as high school season ends. The Koshien finals attract Japan’s largest sports crowds.
Gabriele DAnnungio underwent an appendicitis operation in Cadone on June 24. The Italian poet and author survived the procedure well and is now in his 66th year.
Vernon Hughes former Cameron constable was acquitted of first degree murder in January and now faces a civil suit in Mountessville West Virginia over the shooting death of James Bryan. Me lwee surety on the constable's bond joins Hughes as defendant in the action brought by Lavada Bryan widow of the victim. The shooting occurred during the execution of a misdemeanor warrant against Bryan.
New York reports that Charles A. Lindbergh will begin a final inspection of the Transcontinental Air Transport plane-train route tomorrow. His first stop is Columbus Ohio, with no definite schedule after.
Notice of trustee's sale issued by W P Allan trustee under a 1923 deed of trust by L W Hovkin and Hula B Thokin. Property on Keene Street Parkerfield West Virginia 43 by 70 feet part of Lot 5 City of Pioefield. Sale at Coal and Coke Building front door July 2 1999 at 9 AM cash.
Report notes the aviator intends a West Coast flight and unclear if Mrs. Lindbergh will accompany him. The statement highlights uncertainty about travel companionship.
Notice states the American Finance Company will sell at public auction 40 shares of preferred stock and 20 shares of common stock in the Jean Finance Company held by R. Hewitt to satisfy $200 due on the stock. Also sold at the same time 40 shares of preferred and 20 shares of common stock subscribed by Theo. H. Cooper Jr. to the balance of $460.00. Terms cash. Ry D. B. Pren, President.
L W Boykin named substitute trustee per Mercer County West Virginia court order will sell at public auction for cash at the front door of the Law and Commerce Building Bluefield on July 192% at 1000 AM. The lot lies in Bluefield bounded by Jefferson Hancock and related alley lines and was conveyed to A Campbell and Ella Campbell by trust deed dated 1924 recorded in Mercer County law records.
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