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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Dec 30, 1921
Page
15
News of a Rome bank closure shocks markets with stocks and bonds volatile. Gasoline prices see a tentative drop of about three cents in city retail outlets while wholesale pricing remains steady. Officials offer limited explanations as wholesalers prepare for potential reform and supply adjustments.
The Federal Reserve Bank of New York reports December 25 figures: total gold reserves 7,069,409,353. total reserves 1,114,114,000. bills discounted secured by government warrants for members 145,583. bills bought in open market 584,240,822. total bills outstanding 46. total earning assets 3587. deposits 716.0. federal reserve circulation 8865,029,919. ratio of total reserves to deposits and circulation 86.3.
Consolidated Exchange activity opens with widespread falls across industries after the first hour. Rail and locomotive names show notable declines while steel, oil, and chemical stocks drift. Major names like General Motors and United States Steel move modestly, with mixed results across sectors.
Jennie Sedak age year old chavalier fF and Victor Sedack died yesterday at home of parents 101 Summerfield avenue. Funeral tomorrow at trarhing burial in St Michael's cemetery. Jennie Mrs Frederick C Dayton. Harriet A. Dayton widow of Frederick C Dayton funeral held yesterday afternoon in New Heaven Evergreen cemetery.
Marriage notices list Salvatore Catalds and 23, 2 Vesper Previtensa Semate, 24, of Lordmip 113 Theamp wan street. Birth notices: Arthur and Telia Abdeon of Stond street, a son born December 18, 19%. Mibha and Magy turns of FES MTolly street. A son born December 2, 197. Antonio and Alorsi Allontina of 278 Hersh avernig, a son born December 24, 7224. Grehany and Agere Shwels of 292 Binrovehs street, a daughter born December 21, 1121. Frork aparmnardello of 57 Bev demater, a daughter born December 25.
The Banco Italiano Disconto closed its doors after the government announced a modified moratorium allowing suspension of obligations through court decree. Branches across Italy shut as deposits and fears rose, with exchange rates slipping following news of the bank's closure and the moratorium.
A crowd gathered in New York as the Italian Discount and Trust Company closed its doors. State Superintendent George W. McGleahin posted that the bank's affairs would be taken over by the State Department of Banking. Directors suspended operations and asked the New York Banking Department to oversee pending an investigation tied to deposits with Banco Illiana di Sconle in Italy.
Chicago grain markets closed mixed with modest gains for wheat and oats as demand expectations from relief aid influenced traders. Corn mixed as December dipped while May rose amid government purchase reports and policy signals, hogs and provisions largely unchanged.
A flood of entries shows mortgage delinquencies and transfers to banks and savings associations. Names include Alton Petreluts Nellie Petralia and many others with properties on Lenox Avenue Goodwin Street Hope Street Hancock Avenue and Madison Avenue plus values ranging from $1 026 to $17 000. Other items note the Frank Miller Lumber company against Walter Dorsey and Herbert Piluk and Herbert Frith in a legal action.
The Telegram reports Thursday December 22 market trends show no major changes in fruit and vegetable prices with wholesalers holding firm at the top levels and retailers meeting demand. Live poultry remains firm while dressed meats are scarce. prices range broadly for fruit and vegetables and dairy items reflect Connecticut new standards.
Oc 21 price notes show varied milk and cream offerings with grades and finishes. Terms include whole milk fancy and lower grades, with references to creamery products and regional price indications.
Stocks relapse amid irregular market action as investors weigh income tax plans and weak specialty shares. The suspension of a major bank with global branches unsettles sentiment while foreign developments influence the city budget. General Motors facing dividend questions amid earnings fluctuations. American funds rise on hopeful prospects.
Dec 24 New York curb market notes California Fruit jumped to the lead with a high price amid persistent demand. Glen Alden Coal rose a full point to 44 1/4, while most stocks showed a reactionary undertone. Tarant Motor and United Beta Candy moved to new lows and heavy tones persisted in the overall market.
Norwalk officials authorized 900000 bond issuance at 5 percent for thirty years to fund harbor and Calf Pasture Beach development. The National Bank of New York will purchase the issue and relocate their loan company for storage. Several bonds are highlighted for other local finance and market activity.
In New York on Nee 29 traders saw a broad advance in Liberty bonds with smaller gains elsewhere, as investors sought income amid tax considerations. Prices for several rails and industrials firmed while government issues lagged. Interborough Rapid Transit stock drew attention over itsJanuary interest payments and refinancing activity. a $12.8 million International Paper bond issue was announced by a syndicate led by Charles Breakey and Bankers Trust.
The york money market shows a fictitious price movement with midsession levels around 19.10 for middling and a spot option noted. The report records December 29 and references a deepout position in the York market.
The foreign exchange scene in New York shows unsettled trading with the pound firmness fading after midday. Sterling held firm against the mark and won some gains. European currencies including the Belgian franc and Dutch guilder posted modest moves amid light activity. Traders noted demand for Swiss and Swedish currencies, while Paris and Amsterdam quotes reflected mixed developments.
Market notes from New York on December 28 show London tin prices around 179 and 272 pence per pound for various futures. Copper trades near 66 pence with slight changes, and zinc and lead quoted around 74 and 27 pence respectively, with limited tonnage and mixed activity across metal futures.
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