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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Apr 27, 1926
Page
19
New York reports profit taking and bear selling halted the advance in industrials after seven straight gains while railroad shares rose. Volume fell sharply, with totals near 1,000,000, as traders awaited a mixed market response to General Motors earnings and corporate news.
Realty records list warranty and quit claim deeds including Thomas McCormack to Solemon Levin on Mill Hill avenue and George Pflemm to Thomas McCormack on Mill Hill avenue. Also Joseph Glass to Estelle Glass on Wayne Street and others on Seabright, Brewster, Short, Hallam, and Federal streets with mortgage and trust company actions noted.
Cotton spot market remained quiet in New York with middling qualities steady. Futures closed barely firmer with May around 18.50 to 18.70, July near 18.00, October around 16.80 and January near 16.75, reflecting thin trade and small price swings.
Call money easy with high 8 1-2 and low 3, ruling rate 3 2-0, closing bid 3, offered at $1-4. Fast loan 3, call loans against acceptances 3, time loans easy. Mixed collateral 60-89 days 4, 4-5 months 4, prime mercantile paper 4-4 1-4.
New York April 6 AP reports reactionary trends in today’s cash market. General Electric common stock began trading with a first day up and down moves, opening at 1 and rising to 82 then 12 cents, later rallying. Total volume reached about 33,500 shares, with many utilities and industrials showing mixed activity amid broad fluctuations.
Chicago grain prices edged higher at the open driven by Liverpool wheat strength, with May 1.62 3-4 to 1.63 1-4 and July 1.42 1-2 to 1.42 3-4, then eased as profit taking pulled futures back. Canada cold weather signaled delayed spring seeding, corn and oats drifted lower and hog prices influenced the downbeat provision market.
New York prices for butter eggs and poultry reflect firm receipts and mixed quality. Butter and creamery products show higher scores with varying pack and storage terms. Egg receipts total 22,401 with fresh gathered firsts and storage packed values listed. nearby white varieties and henhouse products noted. Potatoes and cabbages show dull movement with regional price ranges for bulk and boxed goods. bees and Florida offerings appear with limited data.
In New York copper and tin show steady to firm levels with spot and futures trading around 14 and 64.00 respectively. Iron and zinc hold firm with northern iron grades near 90.28 and zinc around 6.97. Washington reports a daily statement showing a general fund balance of 4,807.19.
Postmaster C. M. Birely received a Secret Service warning about a new counterfeit ten dollar bill circulating in eastern cities. The note is described as a very poor imitation and prompts caution among money handlers and the public.
Building contracts show 1928 surpassing 1927 in March by 2 percent and first quarter nationwide value exceeding 1926 by 30 percent, with 37 states east of the Rockies ahead. Only New England and the Pittsburgh district lag behind, as experts dispute whether the early 1924 peak can be sustained through spring and summer.
Liberty bonds and U S Treasury issues in New York trade closed with firm prices as trading dwindled and profit taking appeared. Notable activity included a rally in some issues and a lift in Belgian and certain corporate bonds, while debt offer revisions and subway enlargement prompts weighed on others.
The Boyd mine of Elm Grove Mining, controlled by Paisley Interests of Cleveland, will resume work Wednesday on a non union basis, said superintendent Joseph Arkwright. Union leaders warned members would refuse to work under the monthly pay plan and vowed to resist evictions from company housing in court.
Foreign exchange quotations are listed in cents and dollars for major currencies. It includes Great Britain at 485 16-16 and 446 dollars for cables, Italy around 4.01 3-4 demand and 4.02 1-8 cables, Belgium 2.61, Germany 22.90, Holland 40.35, Norway 21.56, Sweden 26.76, Denmark 26.16, Switzerland 19.31 1-4, Spain 14.42, Greece 1.24 1-2, Poland 19.50, Czecho-Slovakia 2.86, Yugoslavia 1.76 1-3, Austria 14.12 1-2, Roumanie 33, Argentina 40.37, Brazil 14.25, Tokyo 47.25, Shanghai 7, Montreal 100.17 9-16, Portugal 6.17.
Rubber futures closed steady with May at 47.70, July at 45.80, and September at 45.00. The readings reflect cautious trading as markets weigh demand and supply factors for the coming quarters. Traders monitor Tokyo and Shanghai activity for price signals around tire and industrial rubber markets.
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