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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Dec 17, 1921
Page
21
Yesterday's trading saw subdued buying and a weaker foreign exchange market while the bond and stock markets showed limited activity. Traders noted a relapse in US steel and iron ore pricing, with some issues retreating from recent highs as profit taking emerged and transportation sector sentiment remained cautious.
The report outlines a mortgage of 106090 to Bridgeport Trust with bonds of 21000 each and 49 of Fant rach and 109 of 100 dollars with 5 percent interest. Premises at 1183 1193 1197 and 1201 Meinstray leased in 1942 for annual rent. The Second National and Merchants National Bank of Haven expected to pay dividends. Treasury Secretary Mellon promotes Ten Series Treasury savings certificates. American Brass Company verification supports Anaconda Copper stock purchase. Buffalo Rochester & Pittsburgh Railways authorized to issue 2949000 of 4.5 percent bonds at no less than 2 and a half percent premium. Bridgeport Savings Bank observed Christmas Savings Club deposits. photos to be shown next week.
In New York a meeting of the Middle States Oil Corporation directors has been called to authorize absorbing all subsidiary companies. The move aims to consolidate control and streamline operations across the group.
Dec 16 Chicago market notes snow across winter crop belt with moisture in the Southwest. Wheat futures eased 1 8 to 1 02 3 off to 1 4 up. Corn and oats held with narrow bids. Tangled trading seen in local character. eastern buyers active, packers selling, price ranges uneven.
New York dairy market shows easier butter demand with creamery extras quoted at 44 to 460 and creamery firsts at 27 to 440. Cheese demand fair, state milk specials 21 to 23 1-1c, Wisconsin whole milk quotes rise to 91 1-2 for Young Americas, and skim prices range from 11 to 18c with lower grades at 4 to 7c. Nearby whites and browns trade around 63 to 66c with extra 80c and firsts 50 to 55c.
Stock desk notes a broad pullback in bonds with many issues sliding from December 1926 highs. Utilities and rails led losses amid weaker speculative appetite, with St Paul Seaboard and Union Pacific among fallers after mortgage news. Liberty bonds and foreign issues showed irregular activity.
New York curb stocks opened firm then moved mixed through the day. Impetial Oil of Delaware rose to 169 4 on news of a parent takeover. Standard O7 of Indiana and related issues stayed strong while Imperial Oil of Canada recovered. International Petroleum, Maracaib Os and Atlantic Lobos advanced, with Simms Petroleum active in a steady session.
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