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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Mar 25, 1925
Page
19
New York stocks drifted lower as rails and standard industries hit year lows with losses of one to five points. Union Pacific and Chicago and Northwestern tumbled to new annual lows before a late rally, while General Electric led late gains amid scattered strength in select issues.
New York bond prices recovered from yesterday's drop with moderate gains led by rail and industrial issues. Some weak sectors rallied briskly while another stock slump exposed further weak spots, notably among high grade rails. Pan-American 68 led advances as expectations rose for an early restructuring of Pan-American.
A dense list of stocks from American Car Foundry American Locomotive American Smelting and Refining American Telegraph and Telephone and other firms. The roster includes Crucible Steel Cuba Cane Sugar Davison Chemical Du Pont de Nemours General Asphalt General Motors Lehigh Valley Louisville and Nashville Mack and other rail lines Missouri Pacific National Lead New York Central Norfolk and Western North American Northern Pacific Pacific Gulf Seaboard Air Line Seaboard Air Line Southern Railway Union Pacific United States Steel Westinghouse Electric Woolworth Willys Overland and related industrials and utilities.
The Alpine Montan Steel Corporation of Austria plans to offer 5,000,000 thirty year bonds at 91 price to yield 7.80 percent. The move follows weaker February earnings and a dip in investment demand.
In New York on March 24 raw sugar stayed at 4.74 cents spot duty paid as buyers showed indifference. Trade reported 29 000 bags Porto Rican and 15 000 bags Cuban sold for mid April shipment at 4.77 cents. Refined sugar unchanged 6.00 to 6.20 with dull activity and refined futures nominal.
Chicago grain notes dwindling new buying leaving wheat nervous and down toward the close. Fresh European demand and export business weaken, with May at 1.65 and July at 1.45 dollars per bushel. Corn, oats, and provisions also decline amid the cautious trading session.
In New York on March 24 live poultry prices were steady to firm with broilers by freight at 10 cents, fowls by freight 27 to 30 cents, by express 22 to 33 cents. Dressed poultry held firm with fowls at 21 and 2/3 cents. Capons were being cut up freely for summer customers by garment manufacturers.
Brown sheetings showed weakness in late business as mink buyers remained quiet. Print cloths stayed steady while burlaps softened for late delivery. Wool and silk goods sold slowly for the season, with overall demand muted as prices drifted.
Livestock receipts reached 16 000 with fed steers and yearlings steady overall. Weighty cattle sold slowly while light yearlings moved. Prices ranged from 11.75 for top cattle to 5.25 7.50 for bulk fat cows, with better fat cattle and light heifers in active demand.
Cattle bids show inside prices 9.00 to 11.50 with outsides up to 11.50 while dockers and feeders stay fairly steady. Hogs receipts near 20 000 with prices mostly steady to 20 30 cents under yesterday. 220 lb averages $13 75 to 15 85. sows slow at 13 00 to 13 15. Sheep receipts 12 000 with fat lambs unevenly steady to 25 cents lower. 82 lb clip $13 75. fat ewes around 8 00. shearing lambs steady to 16 00.
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