Stock Market Summary in New York Today
New York stocks traded irregularly with bonds easy and cotton lower. Hogs higher while wheat remained steady. Yesterday’s stock transactions show dull trading and mixed results across major issues.
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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Apr 09, 1925
Page
25
New York stocks traded irregularly with bonds easy and cotton lower. Hogs higher while wheat remained steady. Yesterday’s stock transactions show dull trading and mixed results across major issues.
In York the bond market shows declines with traction and rail issues leading the retreat. Prices for Chicago Railway and city bonds fall sharply amid broader weakness and government program concerns, while Dodge Brothers financing activity signals market caution ahead of trading.
Warranty and quit claim deeds listed for multiple properties including on Whitier and Lafayette streets, Park and Briv ecto areas. Names such as Angeline, Sterling, Charles F, Smith, Margaret FH, Staples, Kiely, and Treated titles show transfers and mortgage details with values around 2000 dollars in several entries.
New York market drifted with thin holiday volume as Bullish operations in Maxwell Motors A and Wil Overland preferred lifted over three points to new yearly highs. Nash Motors fell after disappointing quarterly earnings, while General Electric and Chicago Pneumatic Tool rose.
New York April 8 The sale of 160 million dollars worth of securities for Dodge Brothers Inc the world’s third largest automobile maker will launch tomorrow. Dillon Read and Company will issue 85 million in preferred and common stock followed by 75 million in debenture bonds. A single check for about 145 million will be drawn to the trustees of the Dodge estate and Dillon Read expects over 10 million in profit while retaining 600000 shares of class FX stock. The bid actually stood at 152 million in cash with 3 million to be deducted for dividends.
Minority stockholders intercede to block a nickel merger as tensions rise over the proposed deal. Stakeholders from Oilers and Sivas Tadqay intervene, seeking court or board action to halt or renegotiate terms amid investor protests and legal scrutiny.
Country wide reports on employment and payrolls show gains in February with payrolls rising across regions. January to February employment up over one percent, payroll increases more pronounced from 1.3 percent in New England to 18 percent in East North Central. Overall payrolls 6.6 percent higher than January, with year over year figures weaker but improving. Major corporations report substantial payroll growth and pay increases, including States Steel, American Telephone and Telegraph, and others, amid a national Retail Coal Merchants Association convention planned for Atlantic City.
New York traders reported a very dull curb market with no clear price trend. Oils listed—Ohio Oil Prairie Pipe Prairie Oil and Gas Vacuum Oil Standard Oils of Indiana Kaneau New York—showed little change with minor gains and losses amid mixed activity. Humble led with a rise above 49 7 8 before retreating, Lehigh Power stock moved near par then slipped, and United States utilities saw a notable gain. White Rock faces rose slightly, Gillette Safety Razor jumped on an extra dividend news, Goodyear softened, and radios stayed within narrow bounds. Washington noted a heavy daily balance of the United States plus 480,587,493.
U S Government bonds closed with Liberty 3 1-2 at 101.14. first 4a at 101.14 bid and 48 at 100.84 bid. first 4 1-43 at 102.28. fourth 4 8 at 102.3. U S Treasury 4s at 100.25 and 4 1-48 at 104.28.
An April issue from Money New York outlines current money market terms including firm, high and low bids, ruling rate, closing bid, and offered prices around 4 1/4. It notes call loans, acceptance rates, and short term financing with 0-90 days and 4-5 months ranges for prime commercial paper.
In New York on April 8 metal prices show copper steady with spot and futures around 13 6 4, tin firm at 61 26, lead easing while zinc remains firm. Antimony quotes range 13 54 to 14 09 with uncertain spot availability.
Cotton spot in New York on April 8 held steady at middling 24.35. Futures ended mostly lower across contracts with May at 24.12 to 24.19, July 24.40 to 24.42, October 24.06 to 24.08, December 24.15 to 24.18, and January 23.97.
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