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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Aug 29, 1922
Page
13
Papers filed in Hartford show fifteen new joint stock companies authorized with total capital of 1 461 000. The week marks seven more incorporations than last year and 920 000 more authorized capital. The tables compare firms and capitalization in the past week with the same week over four years, noting weekly changes.
Market report from York Australia lists copper spot at 43 7 8 to 14 and tin steady with multiple price points from 32.00 to 4 009 00, and 24.00. Lead steady around 40 to 60d, zinc at 8.20 to 8.28 with East St. Louis delivery, antimony spot 4.25 to 3.37.
Money New York reports call money firm with highs at 4 and lows near 3, ruling 3 to 4, clearg bids at 4 and offers 4 to 4. Last loan 4 7, call loans against acceptances 3 1 3. Opened and renewed at 3 to 4 percent, hardened to 4 by close. Time money and commercial paper quiet with little rate change.
Notice to shareholders of Ely Consolidated Copper Company at 25 Broad Street New York NY requests immediate communication of share ownership with certificate numbers and names. Details to be provided by holders.
D J Flannery has been greeted secretary and treasurer of the Bridgeport Screw Co. He succeeds John W Seekings who died recently. Flannery was formerly connected with the company and has been with the Screw company since its organization. His promotion follows long efficient service.
York reports a sharp fall in Prenei securities on the New York exchange with French municipal issues leading losses. Bordeaux Lyons and Marseilles bonds plunge about 4 points while other sectors show 1 to 2 point drops. Some rail and industrial stocks slip, with Liberty shares rising slightly on a mayoral transit plan.
Bankers gathered for a session at the Commodore Hotel in New York City from October 2 to 6 to discuss financing agriculture and practical banking topics. Prominent speakers included M. Meyer, Margary Gounsins, and Marshall Cousins. local banks signaled attendance and planned reservations.
Cotton price figures show a steady opening with slight bid and offer ranges in New York. The report lists spot prices and near month contracts with brief quotes for August and March-May futures, reflecting a quiet trading morning.
Unfavorable weekend developments in industry, combined with aggressive short selling and weak demand, pulled stocks lower, while French government and municipal bonds dropped. Gas shares rose, but gains could not halt the market decline. Consolidated Gas surged above 140, among others, as several majors advanced, yet broader declines persisted.
Article reviews price levels around 1914 per the Federal Reserve Board report. It notes global wholesale price comparisons, postwar recovery, and variations by country. Discusses government economic policies, merchant expectations, and differing speeds of recovery across nations.
The New York curb market showed selling early with some week end pressure then renewed buying and short covering lifting several issues. Oils and mining shares were uneven with small sellers and firm midday prices. Goldfield Development hit a new high before a late rejection while leading names like American Tobacco and Phillip Morris held steady.
Unclear market notes describe August grain activity with a sharp rally in wheat as commissions push to bolster volume. Short covering and thinning stocks boost prices while late trades reflect cautious buying. receipts and market expectations point to heavy rains and ongoing demand influences through the week.
A brisk week in the Naugatuck Valley securities market shows steady price gains despite ongoing strikes. Strong demand lifts several stocks with notable closes including Magle Lock up ten points and United Timinahetheg toward 3, while International preferred slips. The list records week’s end quotes for local companies and signals continued volume growth in business across the region.
At Tork on August 28 irregular foreign exchange rates were reported. The German rate fluctuated while sterling dipped below Sunday quotes. Grimanns reports indicate a rise in the discount rate and an increased sterling demand, with several European currencies showing varied movements.
Aug 28 report quotes Bank of Japan President Titouye saying Japan has strong capital demand but cautious bankers. He notes no immediate price cuts or easy recovery from retrenchment, contrasting with Britain and the United States where rates were lowered.
Lawrence Massachusetts mills Monomac Katama and Acadle reopen their plants with workers returning to full wages after a 20 percent cut during the textile strike. About 40 percent of staff returned today, with the remaining 60 percent expected back on duty shortly. All three mills continued operating during the strike under reduced forces.
Real estate transfers filed include Feynard DeMonna to Nuusis and Reonard for 44 feet on Brooke Street. Caroline Gandsell to Anthony Matthewson for inside land. Mary Bowen to Tom Lamb for 66 feet on Richardson Street. Bridgeport Savings Bank mortgage action lists Patrick and Catherine Burns to 59 feet on Balsam Avenue for 1604 dollars.
A manufacturing property on Union Avenue near Hollister Avenue in Connecticut is offered for sale. The parcel, over seven years built with parts five years old, lies near trolley lines and city center, with ample labor and no encumbrances. Auction set for August 9, 1022, terms and catalogue available from the auctioneers.
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