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Newspaper
Bridgeport Evening Farmer
Location
Bridgeport, Connecticut, United States of America
Date
Dec 18, 1916
Page
15
Henry Clews notes speculation has risen to dangerous levels and higher rates have curbed excess. He cites timely discipline and improved technical conditions after heavy liquidation. Monetary signal strengthens from loan contraction and gold imports near 80 million this month and 600 million this year. Friday rally follows Thursday break, suggesting the worst may be over and higher ranges ahead.
Peace proposals from Berlin sparked a sharp stock market reaction, eroding gains from war-related securities. The downturn followed by a brief recovery reflected an already weakened market, with traders weighing how an early peace might play out, including continued war orders during a payoff period and broader shifts in demand for steel, copper, oil, and other exports. Two workers died in a Smokeless Powder Co explosion in Morgan's Station, New Brunswick.
A historical notice promotes rubber tire industry investments citing Goodyear Goodrich Kelly Springfield Miller Rubber and McGraw profits and stock quotes. It touts substantial past gains and offers Treasury stock of the 700 percent Mier as a prime opportunity for public subscription.
Opening trading in New York shows material gains in leather, paper, steel and nickel shares while rails rise. U S Steel holds steady then slides two points as speculative issues retreat. Noon recess brings bear pressure, alcohol plunges nine points, and late gains appear in low priced rails. Princess Joachim gives birth. King George awards the Victoria Cross to Lieutenant Commander Bernard Cecil Breyberm.
The Board of Contract and Supply of Bridgeport Connecticut invites proposals for the complete construction of a combined Fire and Police Station at the corner of Fairfield Avenue and King Street. Proposals due by 12 noon January 8, 1917, with a 10 percent certified check as bid security. Maps and specs available from Architect Leonard Asheim at 211 State Street. The board reserves the right to accept or reject any or all bids.
The Standard Oil Co. of Louisiana raised the price of all grades of Caddo crude oil by ten cents a barrel. Fire damaged the Erskine-Danforth corporation’s furniture factory in Stamford Corp. causing about $30,000 in losses. House leaders plan a recess from December 22 to January 2. Central Powers peace proposals were delivered to the Italian government. A fire razed the American Lannary Co. building in Hagerstown Maryland causing about $75,000 in losses.
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