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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Apr 29, 1920
Page
18
The market closed sharply lower with widespread declines and hopes for a rally fading. Traders anticipate labor conflicts, credit tightening, and potential business failures, while government actions and steel sector issues weigh on sentiment and trading volume.
Yesterday’s market notes show opening and intraday ranges for Ue shares with prices and rotations. The report lists Jersey agri products, cacao and sugar basics, and grain and cotton futures with unsettled or steady tendencies across markets and transportation costs.
The cotton market opened near unchanged at 45.40 and drifted lower toward the close, slipping about 25 points from yesterday's finish. Selling pressure pulled futures near 1.204 bales lagging behind steady demand as scattered rallies appeared late in the session.
New Haven official Apri lrdo reelected president of the Central New England railroad at the annual meeting of directors and stockholders in Poughkeepsie NY. New officers named include J. Pearson as first vice president and E G Buckland as president and general counsel.
The New York Stock Exchange and the Consolidated Stock Exchange announce closures for Saturday May 1 due to office moves. The curb and other exchanges will also shut on May 1, with firms relocating to new offices. Figures for market changes and regional postings accompany the notice.
Liberty Bond song from April 88 promotes bond purchases with wartime spirit. Notable phrases highlight Liberty Bonds support and civic duty.
A New York City owner retreats from strikes by working a building elevator for weeks to expose industry thrifting and public resolve. The piece cites thrift movements halting extreme clothing costs and urges shared sacrifice to curb price inflation across commodities.
Realty records show numerous quit claim deeds transferring varying parcels on Grand Street North Washington Avenue Osborne Street and other city streets. Several warranty deeds include transfers of properties on Crescent Avenue Colorado Avenue and Springdale Street with sums ranging from 1 to 5 thousand dollars and multiple parties named in each conveyance.
Washington April 2 The federal government asked the Supreme Court to rehear its disbarment suit against the United States Steel Corporation The decision was 4 to 3 with two abstentions The action on the motion will be taken later Counsel for the government argued the steel case would stretch the leading cage which was decided in the government s favor last Monday
The United States Chamber of Commerce board approves appointing a mission to Europe to study resuming trade with Russia. The chamber’s commerce group had urged resumption of American trade with Russia while characterizing the Soviet government as a ling regime and noting varying opinions on potential impact on the Soviet regime.
The coffee market opened with subdued activity as a few May contracts failed to pass, scattering liquidity. Offerings were absorbed and the market rallied on covering. closes show April and May at 14.18 14.30, with other months at 14.1 and 4.28 for later periods. spot dull at 15a fuz Ita.
Reports from New York describe quiet markets for dry goods and surpluses with late deliveries easing. Shipping goods and prints show subdued demand while overall activity remains sluggish amid low night demand. exchange rates and bank quotations hint at tentative stabilization in April.
April 28 city records show a 20 000 city loan to be floated in Canada as six percent debentive bonds. The list includes numerous property transfers with readings on widths and values along Washington avenue Grand street Springdale street Toward avenue and Colorado avenue and other city streets. Notable transfers include Cora B Moore to Mary K Wilson and Katherine L Fitzpatrick to Harry Sehine among several 3 000 to 5 000 dollar dealings.
The America First shipping bill seeks full American ownership of merchant marine stocks, with 75 percent owned by U S citizens. It would bar foreign owned ships from U S ports unless approved and could end treaties allowing discriminating duties. Proponents say it unshackles U S commerce to promote the merchant marine.
In Clugago the corn market closed nervously with a 4 cent drop, May deliveries facing supply tightness and bids rising late as sellers overreached. Oats and provisions also moved, while a separate note on Louisiana taxes cites opposition to a 3 percent severance tax on natural resources, with projected revenue impacts across lumber resin turmeric and related products.
At the annual meeting in Corintis, Frederick K. Jennings Rudolph Pagenstesher and George J. Underwood, all of New York, were re elected directors of the International Payor Company. Allen Curtis of New York was elected to succeed I. & F. electrolytic. Market notes show May pricing for Antimony, and a reference to a Subtreasury credit balance at the Federal Reserve in New York.
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