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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Dec 15, 1926
Page
19
New Christmas dividends bolster bullish efforts as industrial stocks push to fresh highs in a brisk trading session. Major gains spread across United States Steel and General Motors peers while call money stays steady and commodity futures firm amid mixed foreign exchange moves.
New York December 4 The An. Buskian Tertile Syndicate of New York reported closing its year of operations in America with a total of about 130 307 value in primary trade. Of this, roughly 1 000 was spent on cotton. The Volon Textile Syndicate of Moscow, holding 94 percent of Soviet textile output, is noted in connection with the broader trade.
Realty records show warrants and deeds across Bridgeport and nearby streets. Transfers include Hridgeport to Boalceport Trust on Bara Street and several mortgage deeds involving Mechanics and Farmers Savings Bank, Bridgeport Trust Company, and other local lenders with properties on George Street Randall Avenue Grand Street Wootend Avenue and Luriter Street.
The New York market round shows irregular and varied foreign exchange quotes across nations. Britain rates are around 4 3 4 with cables 485 12 8, France 996, Ireland 1390, Germany 33 96 with 25.5 percent, Sweden 26, Switzerland 1937, Greece around 3 4, Austria 12 1 2, Romania 32 1 3, Argentina 41 00, Tokyo 4393 3 4, Montreal 9990 6 3, and Portugal 515, reflecting fluctuating rates and unsettled cables.
Commodity report notes copper bids steady near 135 9 due to quiet trade. Tin shows minor activity with nearby futures at 8.62 and spot around 799. Lead and zinc steady with muted changes. steel prices flat in St Louis spot and futures near 795.
Inquiries report rubber prices staying firm with limited shifts. The ticker notes January, March and May futures at varied levels, while a smoked ribbed depot item appears in minor listings. Market observers cite steady demand and cautious trading across trades.
Daily statement from the United States Treasury lists the balance in the general fund as 134 with SSA figures noted. The snippet records a balance snapshot for today, indicating the Treasury’s cash position and related SSA reference.
Savings here amount to 211 per inhabitant as the nation reports total deposits of 24.696 billion dollars, up from 204 per person in 1925. The American Bankers Association notes 46,762,240 depositors with savings rising across most states, led by New England and followed by Middle Atlantic and Pacific regions.
Wheat opens 43 8 to 1 2 lower as Liverpool quotes and Argentina supplies weigh on the market. Corn oats and provisions ease with mixed closes. wheat ends steady or slightly lower, corn barely changed, and oats lower amid thin demand. Traders watch European and South American price signals for direction.
On December 14 in New York the cotton futures market closed steady with gains from four to ten points. December finished at 12.40, January at 12.00 to 12.01, March 12.26, May 12.47 to 12.48, July 13.06, and middling price at 12.62.
In New York the Victor Talking Machine Co stock rose to 140, a fresh high, 45 above recent syndicate bought levels, while Server slid to an all time low of 6 8. Oil shares firmed modestly with gains for Humble and Standard Oil of Indiana. Other gains included American controlled oil fields, Gulf and Mexico, Canadian Industrial Alcon, and Johns Manville. Public utilities were mixed as Electric Bond and Share advanced but Electric Investors faltered.
Pittsburgh dispatch reports the National Association of Building Trades Employers adopted a resolution opposing the five day work week as a patriotic and economic duty. The group also backed no wage increases in the coming year and urged a permanent apprenticeship system. Delegates from 11 cities including Springfield and Worcester discussed building conditions.
Prices moved into new ground today as funds entered the market but turnover eased from yesterday. Foreign obligations steadied after early week highs with Treasury and agency issues showing uneven strength. several rail and utility bonds posted modest gains while mining issues lagged.
Dwight W. Morrow of J P Morgan argues in Foreign Affairs that U S investor habits shifted after the war with a rise in foreign bond purchases. A midwestern paper once listed six foreign bonds ten years ago. now its financial pages show 128 issues from about 30 countries. About 85 percent buy in small lots, often 190 to 5000 dollars, with a Japanese issue cited where 98 412 buyers averaged 3905 dollars each. He opposes government use of force to collect for foreign debts, saying good faith at purchase suffices for maturity.
Liberty bonds quoted with several series including Tiberty 3 1-2 at 100 268 and First to Fourth 4 1-48 with prices around 102 26, 101 12, and 103 7. U S Treasury 3 3-43 at 102 28, Do 42 at 106, and Do 4 1-4s at 109 28.
Building permits totaling 18160 were issued yesterday for properties including Wenstrom and Peterson cottage at 717 Jackson Avenue, Frank Funkie frame cottage on Cambridge Avenue, J J McLaughlin three car beamed garage at 315 Connecticut Avenue, Harriet M Poland frame at 2 Houston Street, A J Abbott one car frame at 1276 Laurel Avenue, Schnee and Resnick window and Main Street F avenue project, Fierra and Donato Bani frame addition at 609 Lindley, Elizabeth F Evers two car garage at 397 Remington Street, and Antonia Audino third floor addition on Snow Avenue.
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