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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Apr 07, 1925
Page
33
New York stocks rose as moderate oil shares and curb-bond gains helped lift the market. Nash Motors hit a new high, Maxwell and Allied automotive issues advanced, as speculators anticipated dividends and fund inflows. Rail fibers and utilities posted varied gains amid steady cash demand and easing foreign exchange moves.
Speculators for the advance continued to control the curb market with broad participation. Oil shares rose on stronger gasoline demand as warmer weather neared, lifting Stara Oil of Indiana Prairie Oil and Gas and Humble among others. Adirondack Power and Light surged four points to a record near 12, while Power Corporation of New York climbed about four points. De Forest jumped 13-4, Charles Freshman 11-4, and Liberty Stores traded near the year’s high. Doehler Die Castings fell from last Saturday’s close to 10 on unconfirmed dividend rumors amid the plant shift from Breaking to Batavia New York. Glen Alden Coal rose 4 to 82, then gave back half the gain. Continental Baking and Gillette Safety razors showed modest gains as radio stocks and other industrials drew interest.
New York April 6 moderate improvement in the bond market slow trading. Railroad and industrial issues fluctuated on special devalorments while general interest remained low and prices stayed tight. Call money rates rose on bank reserve measures, yet bonds followed stocks upward. Convertible rails led gains with Delaware and Hudson hitting 107 5-8 on coal-property segregation and Norfolk and Western and New York Central rising. Rubber and motor securities drew support amid optimistic forecasts. French obligations drifted, but overall foreign issues were steady. U S government bonds remained firm.
Foreign exchange in New York stayed steady with various country rates listed. Quoted demand and cable figures cover Great Britain France Italy Belgium Germany Holland Switzerland Spain Czecho Slovakia Romania Argentina and Austria with mixed cent values and decimals.
Daily balance of the U S Treasury stood at 882 166 657 with figures shown for the current day. The report records the day’s financial position and notes the total available funds in the Treasury as of that morning.
A chart shows current exchange values across leading nations. Sterling strengthens while French francs remain near postwar lows. Swiss francs and Swedish krona drift above and below par. Mexican pesos rise above par for the first time in six years.
Yesterday's closing listings show New York stocks at the Exchange with total sales reported as 1,235,200 against 533,900 in the prior session. The brief transcript notes general activity and price movements across listed securities in this market snapshot.
Richmond Va April 6 stockholder protective committee of minority owners announces plans to sue in chancery court to halt Chesapeake and Ohio Railway lease to New York Chicago and St Louis Railway, alleging inequity and discrimination against stockholders. An inter verling petition to challenge Interstate Commerce Commission authorization was also announced. Signed by George Cole Scott and four committee members.
Call money firmer with high 4 1 2 and low 3 3 4, ruling at 3 3 4, close 4 1 2 to 4 3 4, last loan 4 1 2, offered at 4 3 4. Time loans steady, mixed collateral. Prime commercial paper at 4.
Copper holds steady with spot and near by futures around 12 1 2 and 13 1 2. Tin remains easy with spot and futures at 55 87 and Northern No 1 at 22 00 22 60. Tin prices show regional gaps, while East St Louis listings show mixed values and errors in town names.
Directors of the Minmi Copper company reduced the quarterly dividend to 25 cents per share from 52 cent. Payments since 1920 had been at the rate of 2 dollars per share.
Regular college courses are broadcast over the radio by the Massachusetts Department of Education Columbia University and others. Students register by mail receive homework and tune in at a set time for the lecture. Languages are taught this way and Penn faculty also regularly broadcast.
CHICAGO April 16 Grains rose sharply led by corn with gains up to five cents a bushel from Saturday. May corn 99 3 4 to 1.07 and bids near 1.00. Wheat closed strong 7 3 4 to 3 1 2 cents, May 1.46 1 4 to 3.46 1 2, July 1.86 to 1.96. Oats followed, provisions eased slightly with hogs.
Cotton market report from New York shows middling spot at 24.65 cents. Futures closed higher with May around 24.39 to 24.40, July 24.67 to 24.70, October 24.88 to 24.37, December 24.41 to 24.43, and January 24.19.
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