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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jan 03, 1923
Page
16
Bridgeport optimism centers on a 1923 forecast by the Chamber of Commerce. The report details payroll, real estate, water use, electric current, telephone installations, rail and trolley travel gains, school attendance, bank clearings, postal receipts, and production trends. It predicts a solid year with varied sectors expanding and orders improving.
The Board of Apportionment may drastically prune city department requisitions to fit a proposed tax not exceeding 25 mills. Current requisitions total 1,762,353.12 dollars, with possible additions later filed with the city auditor. If the grand list reaches 235 million, about 80 mills may be needed to cover all demands, though expected city revenue could reduce the tax by roughly four mills to around 35 mills. The board is likely to push a strict cut, risking a higher grand list total.
Business leaders from New York Boston and New Haven tour the Palace and Majestic theatres building as a new hotel nears completion. The Bridgeport Industrial Division reports 19 firms relocated since February with payrolls over 1 million dollars and about 1000 workers employed, while over a million more is spent on fitting out facilities. Ford’s Michigan Land and Lumber Company buys Stearns and Culver holdings totaling 15 000 acres for a 25 million feet per year mill. Rubber heel makers align with the Bureau of Standards on size and shape. Schrade Rubber Heel plans standardized shapes and sizes. Attorney W W Bent to chair a Lions Club luncheon. bowling teams organized. Society of Automotive Engineers meet in New York January 11 during the Passenger War and Auto Builders show with local car builders contributing to the convention program.
New York Jan 2 Strong demand for short notes boosts bond prices as day progresses. U S government securities fall briefly amid uncertain trend, while tax selling eases. Mexican bonds rise. public offering of International Great Northern bonds and Armour & Co preferred stock issued.
Copper electrolytic spot and nearby quoted 14 6-8 to 14 3-4 with futures drift. Tin firm at 39.12 spot, 39.26 futures. Iron steady with No 1 northern 27.00 29.00, No 2 northern 27.00 4 .00, No 2 southern 94.00 26.00. Zinc steady at East St. Louis spot 7.25 7.38. Antimony spot 6.25 6.50.
Mortgage ris lisases near 50000 dollars by Challenge Cutlery Corp to First National Bank of Bridgeport filed yesterday in Town Clerk's office. Release of rights under a contract with George Schrade preserves exclusivity to manufacture the Sly Lock knife. A new company is formed to take over the plant and equipment separate from the Challenge organization after five years of operation.
Tobay reports total sales 31,000 shares with gains in oils and railroads. Studebaker leads early advance to 119 before giving back most gains. U.S. Steel mixed. Oil stocks rise with Associated Oil up 4.5, Standard Oil of California up 1.75, Pacific Oil up 1.5. California Petroleum weak. Motors group shows activity with several names edging higher. rubber shares soften. Foreign exchange firms as endweek liquidity tightens with sterling at 4.645, franc 7.44, lira 5.14, and German marks at 1,391.2 per 100. Market ends higher overall amid profit-taking and rate shifts.
Washington Jan 2 The Census Bureau survey shows total manufacturing output rose 50 percent in 1922 versus 1921 led by iron and steel with a 60 percent gain, stimulated by auto and building booms. Automobiles topped 2 million produced in eleven months, textiles also surged, unemployment nearly vanished, yet steel firms report a shortage of workers and rising wages.
Market conditions show weak to steady demand as buyers refrain from heavy purchases. Some fruits and vegetables hold or rise slightly while cranberries, oranges, and eggs soften. celery, cabbage, onions, and potatoes show firm or rising prices amid lighter supplies and active wholesale movements. Livestock and poultry demand remains mixed with higher veal prices and steady beef, while hay and grain costs edge higher at the farm door.
The January 3 Money New York report notes call money in the army high to low range with puling rate and closing bid at 3. It mentions call loans and related acceptances, but the text is garbled with unrelated inserted lines about a 1244 BC invention and random phrases about fish.
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