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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Aug 03, 1920
Page
15
Broadan Wall reports a sharp market drop after a brief early rally. Rail stocks fell from gains, others followed as profit taking and lack of speculative support dragged down prices. Vanadium Steel and Replogle among notable declines. money rates steadied.
U S Steel executives express cautious optimism after the latest quarterly report shows the steel industry improving despite weaker stock prices. The piece highlights steel as a driver of American industry, notes strong demand for iron ore, and cites vast reserves in the United States and Canada supporting long term production.
Bridgeport contractors state high money rates and bank lending conditions suppress new building. Banks demand tight terms, mortgage money scarce, and construction halts rise as wages and materials stay costly. Some builders report labor hours trimmed and projects delayed despite demand for housing. Local real estate dealer cites a looming housing need amid scarce financing and elevated costs.
Commodities show uneven movements with Buster steady receipts at 3.47, creamery firsts at 44, and eggs fluctuating with 15.4 receipts gathered extras. References to Western and Pennsylvanian whites, potatoes and sugar prices, plus notes on corn, oats, pork, and oil futures highlight a broad market snapshot amid unsettled shipping and domestic demand.
The government crow report shows a 74 condition and 12,519,000 bales as the indicator. a sharp rally followed from New Orleans with December futures climbing from 27a to 80.8 or 108. Prices closed steady after a volatile session, with Saturday's finish near 30.63 and nearby levels around 102.
Notes of demand softness and cautious sentiment weighed on prices as the market opened on the wood. Reports of limited activity and mixed Brazilian cables suggested a sluggish intraday trade with minor gains in some segments. Dealers quoted tentative levels around 10 84 to 11, while several points moved in weaker territory.
An August 2 Liberty Bonds ad lists Liberty First and Legond 4 1-45 with Third s1-4x Fourth 4 1-4 and Victory 23 Victory 4 3- commemorative series. The fragmentary copy references bond options and rally language from a wartime fundraising page.
A Providence area freight delay disrupts merchants and miners who warn of prolonged delivery times from one to two weeks. The Transportation Committee of the Merchants and Miners warns ongoing delays threaten ongoing trade and could force suspensions of shipments.
Report from New York shows cotton prices steady with limited movement as bleached cottons and yarns traded quietly while buyers sought price guarantees. Traders described market as generally stable with expectations for continued even pricing.
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