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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Dec 02, 1920
Page
16
Broadan Wall reports a volatile session where stocks opened with losses but rallied late in the day. Industrials attracted buybacks as margins and rights trading influenced volatility, with Southern Pacific leading activity and a government withdrawal of 12.5 million from banks shaping liquidity.
The Pacific Oil Co to be formed by Southern Pacific as part of a plan to separate oil and railroad properties. Capital stock set at 83,000,000 with SP subscribing 5 per share. The new firm will buy California land from the Southern Pacific Land Co amounting to about 359,000 acres and 209,685 shares. Holders of SP stock will have a right to exchange at 15 dollars per share for new company stock. In Washington, Republicans plan to reorganize the appropriation committee to 25 members with Mondell and Maan involved. debate over budget veto and consolidation continues.
A 1920 Bridgeport area report notes Willjam Draper ship owner fined 1090 dollars with orders to pay 4320 more for alleged regulatory violations after goats and a kid were kept in the passenger wing during cold weather. Draper claims the goats were brought below deck on passenger suggestion and weather. The notice also includes multiple legal notices and name-change proceedings from Connecticut courts.
Washington December 1 The door to further wage increases in the sun thracite coal industry beyond the 17 percent raise awarded by the Federal Commission last August opened today at a conference between the anthracite joint scale committee and Secretary Wilson of the Department of Labor. The government would not interfere with any changes the committee might wish to make in the commission's agreement. This position was understood to mean the committee may increase wages above the scales laid down in the agreement under which the mines now operating.
Dec 1 report says Standard Oil will begin fighting Royal Dutch on January 1 when the law abolishing government monopoly takes effect. The measure nullifies the Royal Dutch contract, ending its long hold as sole purveyor in the market.
The local plant of Brunswicks Ballex Collender Co. in Dubuque closes indefinitely after decades in operation. Once employing about 1,206 workers a year ago, the facility now halted production due to a sharp drop in demand for phonographs.
Judge E. Gary, chairman of United States Steel, urges massive expansion of American agriculture. He cites intensive cultivation, modern machinery, and transport improvements as keys to doubling wheat yields and creating vast wealth. He references Holland Belgium and Britain as models, urging farmers to adopt intensive methods to achieve sustained surplus for domestic use and export.
The Bridgeport brief notes Emerson Shoe Co flourishing with a strong local store in Wis city. A separate trade note mentions the Tor Biinmty Smee company and a clarification that it has no relation to Emerson, per officials.
Holiday sale touts prices lower than in years and extra financing from $5 to $200. Housekeepers, workers, and salaried employees urged to shop early. Prompt service offered. contact Barun 2228 for details and orders.
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