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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Sep 02, 1925
Page
10
Stocks fell notably before the close after an otherwise modest morning rally. Many issues shed one to ten points while a few gained one to six points. U S Steel and several industrials led losses, with some rails and machinery shares showing mixed moves amid overall selling pressure.
In New York on September 1 the bond market highlighted foreign obligations with wide price moves. Canadian government one year notes at 99.5 yield 4.25% and Crespi Cotton Works lire 30 year bonds at 96% face value were slated for issue. Florida Western and Northern 7s led gains with a nine point run to a record high.
On September 1 the call money market showed steady conditions with a high of 4 percent, a low of 4 percent, and a ruling rate of 4 percent. Closing bids and offers remained at 4 percent, with new loans at 4 percent and call loans against acceptances around 3 percent. Time loans stayed firm with mixed collateral for 60 to 90 days at 4 percent, 4 to 6 months at 4 percent, and prime mercantile paper also at 4 percent.
A scanned page lists numerous NYSE and railroad stocks including American Tobacco American Water Woolen Mills Atlantic Coast Line Central Leather Allied chemical and others with varied prices. Notable names appear such as International Harvester Dupont and Union Pacific.
New York on September 1 reports irregular exchange values. Great Britain demand and cables listed at 4.85, U S 60 day bills 4.81. France 4.69 demand, 4.70 cables. Italy 3.87 both demand and cables. Belgium 4.49, Germany 23.80, Holland 40.24, Norway 20.52, Sweden 26.80, Denmark 24.52, Switzerland 19.36, Spain 14.31, Greece 149, Poland 17.0.
Ahern notes mixed changes in provisions and a 27 cent rise among items in the boarding house schedule. The report highlights fluctuating costs and the impact on daily meals for residents.
The record lists Slovakia 2.96 and Jugo-Slavia 1.79 with other percentages and figures including Austria 14 percent Shanghai 80 percent and Tokio 40 percent alongside Montreal 1001/16 Argentina 39.97 Brazil 13.00. It presents a snapshot of regional performance and exchange-like data.
United States government bonds ended steady to higher with Liberty 3 percent at 100.27 and Treasury 4s at 102.27 while Liberty first 4s traded around 100.20 and fourth 4s at 102.10. Treasury 4%6 moved to 106.26 and other issues hovered near recent quotes.
Cattle receipts around 000 with fed steers scarce and grass steers steady near 7.60 down. top mature steers 16.10 and above. Hog receipts 12,000 with butchers down 6 10c. porkers 13.00 13.40. sows around 10.95. Sheep receipts 16,000 with fat lambs 0 0 higher to 16.35 top. natives mostly 15.00 15.26. feeder lambs strong 15.50. fat ewes 6.50 7.50.
Domestic wools across all lines show moderate demand with finer grades more active. Territory and fine wools move in limited quantities at $1.22 to $1.28 clean for combing $1.25 to $1.28. one half blood territory trades around $1.12 to $1.15 with little activity at $1.12.
At the opening of the carpet and rug auction in New York bidding was moderate as about 93,000 bales and rolls are offered this week. Prices were slightly under the general market, with dealers watching early activity for direction.
Attendance at the auction was sizable with steadier bidding as the day wore on. Cotton goods remained steady with print cloths contracted for delivery later this year at 9 and 9 1/2 cents for wide 64x60s, about 20 000 pieces. Raw silk was barely steady due to resistance to price increases, while silk goods and rayon blends moved freely. Linens showed better demand and burlaps stayed steady with light trading. Wholesalers report ongoing demand for small lots for prompt shipment to retailers.
New York September 1 There was no change in the local raw sugar market but the undertone was easier with increased offerings at last prices of 4.43 for Cuban duty paid. Net declines of two to four points closed raw sugar as liquidation deepened and September notices depressed sentiment amid liberal spot offerings and a Chicago trade estimate of 5.5 to 6 million tons for next Cuban crop. Refined sugar trades were steady at 5.55 to 5.60 for fine granulated.
Butter receipts total 15 054 pounds with creamery and extras quoted at 46 46 3 4 c. Extras 92 score 45 c. Firsts 8 to 91 score 42 45 c. Packing stock current make No 2 35 c. Exes firm 38 592 receipts. Nearby hennery whites closely selected extras 60 62 c. Nearby western hennery whites firsts to average extras 45 60 c. Pacific Coast whites extras 55 58 c. Do firsts to extra firsts 49 4 64 c. Cheese steady with 271 136 pounds received.
Chicago grain traders report unusual activity and firmness in the corn market as new unofficial 1925 yield estimates dampen bumper-crop expectations. December corn closes near 83 to 83 1/2 cents, with December wheat showing irregular moves and oats advancing slightly.
Butter trading today showed a slower pace than yesterday but dealers cleared stocks well and kept prices firm across all grades. Centralized market remained firm with light supplies allowing some small premiums in several districts.
Wheat quoted at 147 1.68 and other grain prices listed for Sept December and March. Timothy cash and related futures show values around 3.60 with September and October figures noted. The fragmentary OCR provides scattered price points for seeds and grain contracts.
Live poultry moves briskly in New York on September 1 with prices easing for dressed meat and steady demand for dressed poultry remaining firm amid market activity.
Richmond report for Monday shows live poultry supplies moderate and demand slow. Market remains about steady with prices near unchanged as of Sept. 1 in the Virginia division of markets bulletin.
Receipts this period show rich mix of poultry and eggs with chickens priced by weight and color and eggs at steady Richmond market. Cattle trading varied by region with top steers near $9 and calves around $12 to $14, while lambs and sheep showed active demand in Jersey City and Richmond listings.
Transfers list names and parcels, including Joe Tomchin to D C Rice for lot 14 section 2 block 1 Prince addition Princeton for 12000 dollars and C B Martin to J S Chambers for lot 13 section 142 Park avenue Princeton for 1300 dollars plus several other deeds in Princeton and Bluefield with various acreages and sums.
Mr and Mrs Howard Hurst and baby son Junior returned home to Hazard Ky after visiting Mr and Mrs A D Belcher and relatives. Mrs D B Brookman is out again. Myron Marsh and son from Bluefield visited. Ethel Blanche Belcher visited Princeton while Edith Belcher returned from Virginia. Rev Howard preached at Stony Point schoolhouse and friends welcomed him back.
In Minneapolis Dr. Minas Joannides warns that houses spread tuberculosis measles smallpox scarlet fever and diphtheria. He emphasizes housing conditions as a key factor in controlling infectious diseases.
New York reports a 21.4 percent rise in property values since prohibition began. The city also notes 2339 new stores replacing 3834 former saloons and liquor outlets.
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