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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Apr 23, 1920
Page
18
The market reversed a sharp intraday slide with heavy buying as shorts covered, lifting U S Steel and Republic and other issues. Traders note a lack of true panic, with professionals driving a rapid price rebound, while concerns linger over freight and banking strains and Japanese markets reopening after financial instability.
Marked conditions show wholesale houses near closure as allamshable goods run low while potatoes remain scarcer than in the prior strike. Fresh eggs arrive heavy, prices firm, and calves hogs and potatoes command high markets. listed meat and produce items reflect tight supply across regions with Florida, New York, and New Jersey origins noted for various vegetables and poultry products.
Reports indicate Wood is seen as a strong second choice among delegates with New York leaning toward Hirh while Crane calls the current oil supply situation chaotic. The oil industry faces dwindling supply raising concerns about pricing and markets as underwriters Morgan and Standard Co steer a preferred stock offering to attract capital. Charles H. Sagar was elected president and Samuel P. Colt chairman of the United States Rubber Company at its annual meeting in New York.
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