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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 26, 1931
Page
17
Stocks eased on profit taking after a broad advance led by copper and several commodities. U S Steel hit a new high intraday but closed lower while Anaconda declared a regular dividend and several majors declined. Bond strength persisted with foreign and domestic issues showing solid performance amid mixed market conditions.
The New York bond market posted further gains with profit-taking causing some pullbacks from session highs. Foreign bonds led the rise with advances up to 5 percentage points, while U S government loans were irregular and domestic corporates gained unevenly. Shell and Union Oil with warrants were among the most active, closing up about 2 percentage points.
Foreign exchanges ease in New York with Great Britain dollars quoted in cents and bills at 4.84 percent. Demand for cables shows 4.867/16, 4.869/16 for others, while Italy quotes 5.23 percent with cables at 23 9/16. Belgium and Germany demand figures appear amid scattered bids and terms.
A dataset style compilation lists percentages for several countries and cities including Holland 40.94 and Sweden 26.80, with entries for Norway Denmark Switzerland Spain and more. Montreal shows 99.37 percent and Mexico City gold peso 49.10. Aroma 31.75 appears as an odd item alongside national figures.
In New York on June 26 government bonds ended with Liberty 3s at 102.19 and First 4 8s around 103.10. Treasury 3s also recorded quotes amid a quiet market session.
New York on June 25 reports money rates steady all day with time loans at 14 percent for 60 to 90 days and 4 to 5 months range. Prime commercial paper remains at 2 2 percent and bankers acceptances unchanged.
Treasury receipts for June 23 amount to 7,589,360.62 with a balance of 9,473,640.63 and 506 6,970,599.29. customs receipts to close of business June 23 total 21,607,621.85.
New York June 25 reports continued strength in unfinished cloth segments with gains named on print cloths breadcloths and some sheetings. Silver exchange stiffens China markets sending higher advances than mills pay. Women's wear for fall shows activity as yarn markets firm and advancing. Rayon mills run at 85 percent capacity. burlaps also firm.
Raw sugar held firm at 3.40 for spot duty paid while raw futures slid 2 to 3 points late on hedge selling. Trading showed about 31,450 tons of approximate cases with July at 1.27 and May at 1.53. Regned unchanged at 4.55 for fine granulated.
In New York on June 26 flour prices remained steady with no change seen across major futures and cash markets. Industry sources note stable demand and ample supply contributing to the unchanged levels for the day.
Butter prices advance modestly today in Chicago with offerings down and buying demand up. Fresh 93 score leads, 92 score holds 23 percent, 91 score 22 percent, while 90 score and lower mark 22 to 19 percent declines. Centralized carrots show scores around 2344 for 90, with 89 at 22 and 88 at 20 percent.
Pittsburgh market notes from June 25 show apples in two car lots and early Alabama stock at 2.00 to 2.50 per bushel, cabbage steady with Ohio Marietta crates at 1.00 to 1.25, onions steady with Texas yellow crates 1.40 to 1.60, and potatoes weaker with North Carolina Cobblers at 2.25 to 2.40 and Maine Green Mountains at 1.75 to 1.85. Butter markets hold with nearby tubs and various score standards listed.
Cincinnati traders report steady tone in early trading with eyes on futures. Prices show modest gains as buyers inquire about nearby graded products and ungraded lots in the morning session.
Toledo grain prices show cash wheat and corn values in early trading. Wheat No 1 red 73 74 cents, No 2 red 72 73. Corn oats and seeds unchanged, cash rates quoted with a nominal 28 cent rate point.
New York poultry markets report dressed irregular poultry and live poultry by freight and express rates. Eggs total 27 520, with mixed colors and carefully selected lots ranging from extra first to seconds, plotted with various price percentages.
C B Hancock Investments in Bluefield WV reports both Pincements Trust Bank Service and Territory Oil closed on June 25. The note mentions 10.00 shares and a market 18 10 percent level at closing.
The snippet lists cattle prices and receipts with figures for common cows and calves, lambs, hogs, pigs and various weight categories. It includes the exchange desks and a manager contact, reflecting wholesale market data and trading terms.
Readable bits show references to nearby western hennery white and brown color terms with numbers and percentages. Mention of extra selections and packed regulars suggests a sport or crowding note, but no clear event, teams, dates, or outcomes are legible.
Baltimore cattle receipts total 150 with steers selling from 4.50 to 8.00 for various grades. Bulls bring 3.00 to 5.00, cows 2.00 to 5.00, and heifers range up to about 6.50, with many grades listed and regional market activity noted for June 25.
Chicago livestock report shows 25,000 hogs with direct sales of 6,000, mostly 10 to 15 lower. top 7.40, sows 4.85 to 5.50. Cattle and calves total around 8,500 with varied declines. yearling steers up to 8.75, vealers weak. Sheep at 11,009 with steady to active demand. lambs 7.50 to 8.50, ewes 1.00 to 2.50, range of weights and classes listed.
In Pittsburgh on June 26 cattle, hogs and sheep were priced with steady to weak trends. Hogs ranged light to heavy from 7.00 to 8.25 per cwt while cattle sold 2.25 to 8.25 for various grades and weights. calves and sheep also showed varied steady to lower figures.
New York curb market extended the day with profit taking as volume hit about 690000 shares, 50000 below yesterday. Oils led the advance amid morning gains while Humble slipped from a 3 point rise, Vacuum and Gulf held, Standard of Nebraska gained 8 percent, Cities Service rose to 13 percent then closed at 18 amid declines. Aluminum of America showed active turnover as metal stocks posted early strength. Investment trusts largely dull.
American States Public Service Company has completed plans to acquire the St Ignace Public Service Company, formed by William E Bogelback and company to run electric light properties at St Ignace Michigan. L W Baldwin Missouri Pacific president says prospects for higher tonnage are excellent. He notes an estimated 36408 cars of wheat will be produced along its lines compared with last year’s 30587 cars loaded. R B White president of the Cen
The railroad reported business for the month showed a modest uptick from May but stayed below June figures for the same year, indicating a slower recovery trajectory.
Copper export demand lifts domestic price to 8.5 cents a pound with CIF European export at 9.025 cents. Food wholesale indices rise for the first time since early April, grain up nearly 1 percent from the prior week and 0.4 percent from a month ago. Lead prices climb to 4.40 cents per pound, up from 4.25.
The Bluefield Woman’s Club meets at 4 PM at 108 Reese Street with a program by Mrs. Alice Watkins for membership and pledge day. The Usher Board gathers at 8 PM at 314 Smith Street. Rev Mrs J L Goodabdy preaches at Zion church at 8 PM in a revival led by Mrs L Acodove from Bristol Virginia due to Rev Lipscomb’s accident.
The new Canton government ends a mutiny within its military ranks by executing Wu Tei-Feng a Nationalist sympathizer accused of fomenting the uprising. The revolt began with two regiments near Canton and was subdued by loyal Cantonese troops who disarmed the rebels and detained Wu.
Charleston reports that Governor Conley issued a second commission on June 23 naming R. L. Osborn of Clarksburg as superintendent of the West Virginia State Police. The opinion clarifies Osborn gained full title and powers after June 13, while Brooks remained on paid furlough until June 30. Vouchers were released after state auditor inquiries into signing authority during the transition.
An Atlanta resident reports a brilliant meteor that burned out before reaching the earth was seen over northeast Atlanta last night. Two witnesses described a huge ball of fire in the northeast sky, followed by a brilliant fall, making a short arc before vanishing.
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