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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
May 21, 1925
Page
5
The market reports ten percent lower activity than last month as Northern cotton mills cut hours while southern mills plan to join next week. Raw silk firmer on stronger Yokohama business and late delivery demand. Wool goods steady with cautious, hand-to-mouth purchases.
Public participation was the chief feature of today’s stock market session with more than two dozen issues reaching new highs for the year. Gains were led by Nash Motors, Montana Power, Utah Securities, Ward Baking, and West Penn Power as total sales topped two billion shares. Sterling exchange firmed and steel, oil, and utility stocks aided an overall higher market amid favorable weekly steel trade views and easing call money rates.
May 20 reports brisk bidding for U S and foreign government bonds as war news, rail and utility shares boost prices. Liberty bonds hit new highs with 448 records, turnover near 1.8 million, while U K sterling approaches wartime peak. Railroad bonds led gains with several rail issues up. foreign bonds firm except French profit taking. Convertible bonds gain with Pan American, Skelly Oil, Standard Gas. New offerings include 10 million dollar toll highway bonds and 10 million NY Central equipment notes.
A bulging list shows varied closing figures for chemicals, dyes, metals, and manufacturers. Names such as Bethlehem Steel American Can Chandler Motor California and Canadian Pacific appear amid railroads and oil firms.
May 20 market listings show 11,000 head cattle at central markets with steers steady and yearlings strong, but heavy weights dull. Hog receipts 22,000 with 60c decline, butchers paid 12.00 to 12.60 for select cuts. sheep and lambs firm to higher with fat lambs strong though clipping slow. Pricing and loads reflect varied weights and regional averages across Nebraska Iowa and California stock.
A slightly easier tone emerged in the raw sugar market as Cuban varieties slipped to 4.27 while June shipments hovered around that level. Sales included 10,000 bags Cuban in port and 22,400 bags Philippines due June 10 at 4.27, with further Cuban shipments at 4.30 and 4.43 for late June. Refined sugar held 6.50 to 4.70, with refined futures nominal and new business light amid old-contract withdrawals.
New York May 20 cotton goods market shows firm tone with active trading. Sales total around 65,000 pieces of brown light cloths and sheetings for shipments through June July and August. Cotton yarns steady. burlaps also steady though buyers cautious.
New York May 20 live poultry irregular with freight and express 27c for fowls. Dressed poultry weak with chickens fresh 35 45c, frozen 21 43c, old roosters 18c.
In Chicago on May 20 grain traders noted increased activity and higher prices in the wheat market. Officials estimated the total winter wheat acreage across twenty countries falls by one tenth from last year, attracting market attention.
Prices for wheat climbed with May bids at 1.86 to 1.89 dollars and July ahead at 1.85 to 1.87 dollars. Corn remained steady while oats fell slightly and provisions fluctuated from yesterday's close to gains of about two percent.
Dairy prices and milk creamery figures dominate the York market notes. Weaker quotes appear for certain items while others show higher averages and overall totals. the report cites creamery yields, milk fat percentages, and cheese firm receipts totaling pounds.
In the wool section prices remain firm with activity in cull wools. A lines around 1.60 while High B goods hover near 1.00 to 1.10. Hides valued 80 to 90 per hundred, pupil scoured territory reaching 1.26 and lower grades at 1.10 to 1.15.
Seed and wheat prices reported from Toledo on May 20 include cash wheat at 41,8901.80, Cloverseed 16.00, Gotobar 13.20 bid for December 13.20, Alarke Ausuat 13.60, Timothy seed 3.15 cash and September 2.55.
A steam shovel at Wolfe colliery near Hazleton uprooted a snake infestation. Eight reptiles were killed by a worker on March 24 as they appeared in the area. Most measured three to four feet, with activity noted amid wool market trading and local concerns.
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