Stocks Suffer as Congress Opens Markets Fall
New York December 3—Stocks declined broadly as Congress opened and speculative sentiment turned recessionary. Net declines of 1 to 3 points spread across many issues, with a handful gaining. Loans at stock exchanges rose above 4 million dollars for the first time, while money rates held firm. General Motors and U S Steel showed mixed moves, with several industrials and rivalling groups slipping. Commodity markets fell as Wheat, Cotton and Coffee futures dropped, and foreign exchange saw South American currencies surge while the dollar remained steady.
MENTIONED IN THIS ARTICLE
New York
Associated’ Press
Congress
Stock Exchange
Enlm
Commission Fouse
Cys
General Motors
U. S. Steel
American
Case
DuPaul
Peoples Gas
Philadelphia & Reading
Timken
Atlantic Refining
Houston Ol
Continental Baking A
Pan-Amer
Ajax
Aicison
Chesapeake & Ohio
Baltimore & Ohio
Erie
Wisha
Liverpool
Sterling
Cn London
Argely
Wheat markets turn lower as Chicago opens weak on Liverpool cues
Chicago wheat edged downward after an irregular start influenced by weak Liverpool prices. December wheat ranged 129 1-4 to 133 3-4, and May traded around 135 1-2. Corn and oats also eased with mixed shifts in nearby contracts. provisions fell, reflecting overall softer grains trading.
MENTIONED IN THIS ARTICLE
Chicago
Associated Press
Averpool
Liverpool
Great Britain
Metals News Roundup and Closures in New York
Metals prices and futures for copper tin zinc and antimony are listed with spot and regional quotes in New York. A note reports New York rotten age members voting to close on Saturday December 24 over Christmas recess.
MENTIONED IN THIS ARTICLE
New York
Associated Press
Rotten Age Today
New England Textile Machinery Industry Leads U S Output
A census study shows New England machines produced about 75 percent of U S textile machinery value in 1928, driven by Massachusetts firms with 68 percent of regional output. The sector employed 24,847 workers nationwide, with exports rising and distribution focused on branded consumer manufacture.
MENTIONED IN THIS ARTICLE
New England
United States
United States Department of Commerce
New England Council
Newich
Massachusetts
Rhode Island
Connecticut
Marine
Vermont
Severa Miillion
Standard Oil Dividends Set at 1927 Total of 213366940
The Standard Oil group will pay 213,617,940 in dividends for 1927 with Standard Oil of New Jersey providing the largest share. Standard Oil of California follows with 33,059,506, while Indiana, New York, and other affiliates will also make substantial disbursements amid overall strong payout signals.
MENTIONED IN THIS ARTICLE
Standard Oil Companies
Standard G1 Company
New Jersey
Standard Oil
Calfornia
Standard of Company of
Indiana
Standard Oil Company of
New York
Reece
Standard Oi
Wall Street Notes Highlights Copper Prices and Industry Moves
New York, Dec 5 The copper price abroad rose ten points to 14.45 per pound with London and Havre cited. Domestic copper sits at 14 to 14.18 cents per pound delivered through March. November steel industry sales reached 315,000 tons, up 98,000 from October. Community Water Services acquired Westmoreland Water and its subsidiary, Dennison Water, serving Greensburg PA and nearby. Operating income for the Bell telephone and telegraph company rose to 3,620,247 for October, with ten month totals at 30,722,617 versus 30,588,082 last year. Rail equipment demand shows revival with inquiries for 38 six-geared cars and 25 to 30 thousand-ton shipments. The Soviet Union reported a record oil production of 10,184,000 metric tons for the year to Sept. 30, up 25 percent, with output doubled in four years, now surpassing Mexico. Ribbon industry reforms include Silk Association of America reorganizing its ribbon division to group manufacturers for peer consults and tighter selling principles. Bankers' Investment Trust of America formed in Pennsylvania with 6,000,000 authorized shares par value 10 and 6 percent cumulative preferred and same par common stock. Lemon J. Smith named president.
MENTIONED IN THIS ARTICLE
New York
Absoviated Press
Hamburg
Havre
London
Copper Exporters, Inc
Soviet Union
Et Information Bureau
Realty deeds and mortgages recorded for Bridgeport area
Realty transfers and mortgages listed include Wesley L Norton to Beacon Oil on Stratford Avenue and John E F Jones to Warry Schine on Astoria Avenue, with numerous other realty transactions on Gilbert Gilbert Gilbert Street, Kossuth and Hallstreets, plus several mortgages including Marea Marcus to Philip Seshine and Bridgeport Eagles to Bridgeport Savings Bank. Also noted are transfers to City Savings Bank and other local lenders with property values ranging from 300 to 31,000 dollars.
MENTIONED IN THIS ARTICLE
Wesley L. Norton
Et al
Beacon Oil Company
Stratford Avenue
John E. F. Jones
Warry Schine
Astoria Avenue
Emi Engelmann
Et Als
Wiliam M. Ballon
Birgina Avenues
Mary L. Devitt
Morris Lieberman
Hallstrets
Housttoule Avenue
Daniel J Cox
Frank Crosson
Tenley
Gilbert Street
Catherine CG. Cox
Tealey
Marea Marcus, Inc
Philip Seshine
Water Street
Adeila Marcus
Howard Avenue
Leo A. Ludwig
William A. Lanterman
Nermiaa Street
Bridgeport Aerue No
Fraternal Order of Eagles, To the Bridgeport People's Savings Bank
Main Street
Beacon Oi! Company
Fred H. Lovegrove
Stratford Arena
Antonio Costanzo
Tuca Marentonio
Kossuth Street
The
City Savings Bank
Mary
Christie Barsett
Park City Building and Loan Association
Brothwell
Norman Streets
I J. Frank Page
Catherine
Dunbar
Beechwood
Hen~cotk Avenues
Joseph Kosha
West Side Bank
Marcus Hirsch
City National Bank
Ash
State
Dewey Streets
Lilian &, Goeppler
Mor Plan Bank
New York Produce Prices and Financial Totals
New York December 6 reports show egg quotations from extra large to pullets and poultry whites with varied prices across markets. Fresh gathered and creamery items appear with noted ranges. concurrent financial data list Exchange totals and Federal Reserve balances.
Heavy offerings surge in curb trading on Dec market day
In New York on December 6, curb trading showed mixed action with several early gains turning into net advances. Notable movers included Bohack, Barnett, and Auburn Auto, while Ford of Canada slipped and Rolls Royce Preferred fell. Overall activity indicated rising supply concerns and selective strength in select industrials and utilities.
MENTIONED IN THIS ARTICLE
New York
Associated Heavy
Amoskeny, Duck, O Slaves Manufacturing 1 Corporation
Bunelluly
Oll
Salt Creek
Anth
Micwest
Ford
Canada
Rolls Royce
OTF
Glenn Alien
Fanstel Place
Newmount Mining
Lehigh Valley Coat
Pirestone
Brokerage Loans Reach New High Level in New York
New York December 5 reports brokerage loans to New York Stock Exchange members surged to 84,091,636,203 at month end November, up 145,698,029 from October. The record total marks a new high level for the year as lenders extend more credit to traders.
MENTIONED IN THIS ARTICLE
New York
Associated Press
New York Stock Exchange
Canada Woolens Largely Imported Survey Reveals
Toronto December 5 Canadian mills supply one third of the woolen and worsted demand of Canada, says J A Burr president of the Canadian Woolen and Worsted Goods Manufacturers' Association. He cites a Canadian market worth about 40 million and discusses U S and Canadian industry conditions, tariff impact, and production capacity.
MENTIONED IN THIS ARTICLE
Canada
Dominion
Toronto
J. A. Burr
Canadian Woolen and Knut Goods Manufacourers’ Association
Burns
United States
Burrs
Lessee May Buy Roton Point Park at Norwalk
Norwalk December 5 Special Ne ville Bayley longtime lessee at Roton Point park may buy the entire property from the Connecticut company negotiations ongoing today The deal would be direct with the company not via a local real estate office The amount involved is believed near 500000
MENTIONED IN THIS ARTICLE
Norwalk
Neville Bayley
Roton Point Park
Connecticut Company
Bayley
Stamford Realtor Will Divides Million Dollar Estate
The will of Benjamin Harris, prominent Stamford real estate man and builder, who drowned at Brewster North Carolina in September, was filed for probate. The estate valued at about one million dollars is divided among Mrs Harris his three daughters and his mother and sisters. Before the will was found Mrs Harris received a two thousand dollar monthly allowance pending settlement.
MENTIONED IN THIS ARTICLE
Stamford
Benjamin Harris
Builier
Brewster
N. C
Tts
Money Market Roundup From New York Details Rates
The report lists money market moves in New York with details on call money at easier levels, bid-ask spreads, and time loan rates for 0-90 days and 4-6 months. It notes steady to mixed collateral and prime mercantile paper quotes around 3 3/4 to 4 1/4 percent.
MENTIONED IN THIS ARTICLE
New York
Det
Assocated Press
Prime Mercantile
Hog prices hit bottom at East St Louis sale
Hog prices fell to the lowest quotation for 1924 in weightier classes at East St Louis market with the sale tape at 8.70 compared with 8.90 Saturday. In Washington the Treasury balance general fund stood at 86,660,277.80.
MENTIONED IN THIS ARTICLE
East ST Louis
Associated Press
Washington
U. S.treasury
Balance General Fund
Cotton futures close steady and mixed amid quiet trading
Cotton prices finished steady with modest declines in some months. Devens and UW values hovered around 19.20 to 19.59 for 1927 and 1948 contracts. March and July futures showed slight moves with a quiet spot market at about 19.80.
MENTIONED IN THIS ARTICLE
New York
Assomted Press
Devens
Shipping Arrived From Transylvania to New York
A fragment reports ships arriving with routes including Queenstown and Naples. It notes Transylvania New York on December 6 and December 5 dates for crossings to New York, listing President Wilson as a point in transit. Names and places appear inconsistently due to OCR.
MENTIONED IN THIS ARTICLE
Transylvania
New York
Wilson
York
Naples
Bond Trading Quiet as Congress Opens Session
Trading in bonds slowed notably as Congress convened, with prices generally held and pockets of strength in the St Paul group and Rock Island offerings. Carrier and utility issues rose briefly but profit-taking trimmed gains, while American Telephone 4s fell. Overall quiet market sentiment and steady time money.
MENTIONED IN THIS ARTICLE
Congress
New York
Associated Press
St. Paul
Rock Taland
Evie 5A
Chesapeake Corporation
Chicago Brailways 5S
American Telephone
Uiet
Market Trends Across Foreign Ponds and Irish Prem Issue
In the market for foreign ponds Perg vian Titan and French issues showed a firm trend with many recensions across the list. Over-subscription was reported for the $15,000,000 Irish Prem. State's 5 percent issue while easing tendencies appeared in the Federal government group with Treasury issues selling as much as a half point below peak price since last week.
MENTIONED IN THIS ARTICLE
Vian
Titan
Treasury
Also Mentioned on This Page
Til
Mutual System
Associated Gas and Electric Company
Broadway
Board of Directors
Agc
Clase
Lt. O'Keeffe
Noaeser
Hemphill, Noyes
Isdhanae City Savings Bank
Bridgeport
Pitas
East Bt
Louie
East St. Louis
Cotton Exchange
Tesiniaerss Lisisien
South
Etichinder
Pforyhelmer Wet Company
Hiva Latal
Staandard
Secsey
Chanelier
Pale
Ube Uirtensen
Standard
Corsprites
Duchine Repe
Sothein
Crescent
Rompaldes
Fay Et
Stanpard
Carntiocn Assocaris
Boster Inoexshows
Deane
Wall Street News
Community Water Services Company
Weetmorel Nnd Water Company
Greensburg
Pennisan Water Campiny
Dennison
Ohta
oFevivan Telephone and Telegraph Company
Southern Railway
Theton
Silk Association of America
Mohon
Cbis
Kelling
Bankers’ Investment Trust of
Ameries
Pennsylvania
Lemon J. Smith
David B. Boothe
Emil F Mon
Anna Stemlauf Io
Podolots and Sons, Inc
N. Y
Asie Press
Westany Hennery
Pullets
Nena
E&tis
Gaa
Frelahl
Creer Mountain
Cleareng Tigl SE
Dee, G.—Clearing
Huveecatement
Pereral Reserve Bank
Bank and Insurance
Bankers Capital
Amit Er. Co
Anil
Eli Aner Ik
York Caen
Congaar
Mariass Nth HS
Boul Market Averagges
Mon
Stamford Realtor
MOG
Sue Gurl
Queenstown
Tiasy
Kate
Fidelity Loan Corp
Middle Street
Bie State
Ami
Noble
New England Equity Corporation
State St
Bridgeport, Conn
Bankers Capital Company
First National Bank
Hartford
New Haven
Hoh
Gunper
EJ Sturnees JU. Kink R, J. Ranoace
H. A. Meckill
Panim Pyle
Earle Hepburn
John Keogh
A. F. Connor Co
Bankers Security Trust Co
General Assembly of Connecticut
Banking Department of Connecticut
New Hampshire
Bridgeport Telephone
Waterbury
Electric Light & Power Companies
Union
United States Light & Power Shares, Inc
Central Union Trust Company of New York
Hincks Bros. & Co
Uivestine
Mun
Addreza C. F. D. Rudolph Guenther-Russell Law, Inc
Cedar Street
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