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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Dec 13, 1922
Page
18
Local banks report an 20 percent increase in November clearings over 1921 totals, with a November figure of 40,656,000. Out of town business drives most of the rise, as payments trail transactions and foreign business has yet to fully surface. Adjusted comparisons reflect changes in computing methods effective January 1.
Cotton in New York steady at middling 26.00 while copper futures at 4. Tin trades at 37.26 for nearby, spot 37.00. Lead holds 7.10 to 7.96. Zinc and antimony quoted with mixed activity, markets open but unsettled. Ironically unclear text references continued trading terms.
Telegram style summary reports varied commodity prices and trends for December 1922. Onion prices reached highs around 3.40 per 100 pounds, with tops for prime grades limited supply. Potatoes show improved tone after two weeks, cabbage holds at elevated levels, apples arriving freely, oranges slightly weaker, butter firm, pork and live hogs steady to dull. Vegetables include beets, cabbage, celery, lettuce, onions, sweet potatoes, and spinach with mixed price ranges. poultry and dairy show firm but uneven movement across regional markets.
Money market notes from New York show bid and offer ranges with high at 4 1 4 and low near 3 0. The ruling rate sits around 41 4. Closing figures edge lower by 8 3 and offerings at 4. Inst Joun 3 4 and similar quotes reflect predominant demand against new receipts.
New York reports demand sterling rising to 4.63 with an overnight gain of 4 cents and a fresh high since 1919. Trading shows broad activity in rails and commodities, with Great Northern advancing and Canadian Pacific slipping, while United Fruit declares an extra dividend and the market stabilizes late afternoon.
WASELINGTON: Production and transportation of bituminous coal shows weekly averages above 10,009,000 tons since Sept. 1, with 206,218 cars loaded at mines in the week ended Nov. 8, a 20 percent rise from September. Despite higher output, fuel supply remains tight for the coming months. coal production in cars landed is not greatly different from 1919 and 1920, with 1910 and 1921 benchmarks cited for weekly averages.
Grain markets rose as wheat led gains amid protective measures for winter crops. May and July wheat contracts closed higher, corn advanced, and provisions fluctuated. Liverpool influences and currency strength tempered gains. traders watched Washington credit extension talk amid market volatility.
In New York bond trading was dull though some gains appeared. Government and industrial issues showed mixed moves with notable rises in United Kingdom and Japanese 4s and other issues while refunding notes and certain rails rallied. Total par value bonds traded about $12.2 million, with new offerings totaling over $13 million led by mortgage bonds and industrials.
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