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This newspaper page contains 16 articles. Subscribers can read the full text of each article.
Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jan 14, 1920
Page
17
Bullard Machine Tool Co starts moving from Broad street to its new West End factory in stages to avoid disrupting production. The process shifts one department at a time, causing minimal impact on the six top units. The West End site offers about 200000 square feet of workspace.
Bankruptcy schedules filed in the United States court today list the Fair Harbour corporation of New London and Salvator Varlola of Hartford as filing debts. The Fair Harbour liabilities are 3424 with assets 1610 while Varlola shows liabilities 11257 and assets 4000.
The stock market, dull early, rose in closing hours on extensive covering. Oils and steels led rallies of up to ten points from morning lows as bear pressure eased. United States Steel showed strength amid a heavy bond market with total sales around 138.2 million dollars.
Boston January 13. Bernard J. Rothwell former Boston chamber of Commerce president told the state commission on the necessaries of life that withholding of wheat by farmers largely causes high flour and bread prices. The commission is examining increases of one to three cents per loaf.
Mexico City January 13 A decree by President Carranza authorizes the monetary commission to issue certificates of one peso and 0 centavos. The move aims to relieve a change shortage caused by hoarding of small coins amid high silver content as currency returns to circulation for the first time since 1916.
New York January 13 Liberty Bond quotes list several series with notable prices: Three 1 1/2 bonds at 99.20 and 92.64 for First 4s, Second 4s at 91.32, First 4 1-43 at 92.84, Second 4 1-4s at 91.70, Third 4 1-4s at 93.36, Fourth 4 1-4s at 91.89, Victory 8 3-45 at 98.70, and Victory 4 3-45 at 98.80.
Senate committee hears a plan by Thomas KH Lill of New York to reorganize the U S financial system into a holding company with departments and independent bureaus as subsidiaries A joint appropriation committee would oversee and a controller general would present monthly cost statements The proposal cites Mexico where monthly expenses fell from 16 5 million pesos to 10 5 million after applying the system
Hunter and Havens, steel merchants, relocate to a new building at 245 247 Water Street after years in the Boys Club at 283 Middle Street. The new home cost $75,000 and was built by T. J. Pardy Construction Co. For now the old office remains on Mande Street. The firm includes Elmer H. Havens and R. L. Hunter.
Weakness spread in the corn market as receipts rise and National Wheat Director Barres warns of price hazards. May futures slip to 1.32 1 2, July to 1.30 6 8, oats drop 15 8 to 8 4 16 2, while provisions swing 30 to 25 cents.
New York January 13 An American syndicate bought 25 009 000 worth of one year and five year percent Belgium gold notes The notes due January 1 1923 may be surrendered for Belgian francs at not less than eleven francs to the dollar The feature is designed to yield profits if the Belgian exchange rate rises before maturity
The New York cotton market opened quiet with irregular moves as nervousness over credit and a unsettled stock scene weighed. March slipped from 36.48 to 36.12 before closing at 36.25. January rose 27 points while active months slid. Port receipts reached 39,326 and United States port stocks stood at 1,469,274.
In New York on January 13 copper remained steady with electrolytic spot and first quarter at 19 1/4 to 19 1/2, second quarter 19 1/4 to 20. Iron stays unchanged. antimony at 10.37 1/2. Lead strengthens with spot and February bids around 9.00. zinc softens with East St. Louis delivery spot bids at 9.20 and asks at 9.30.
In New York, traders anticipated more Brazilian government sales, easing futures for coffee. Prices closed modestly higher than intraday lows yet down 41 to 5% points from earlier levels with January at 15.85 and March at 15.70. Spot in Rio steady at 75 14 12 cents.
Cotton goods and yarns showed strength with active jobbing houses. Dress goods remained firm. Fall men s wear prices expected soon. Burlaps were firmer and higher.
Louis B. Powe elected president of Connecticut National Bank and Charles E. Hough becomes president of City National Bank at yesterday's annual meetings. Edmund Wolfe re elected president of First Bridgeport National Bank and Tremain extends term at American Bank & Trust. Changes reflect National Bank Day with Shelton retiring after 42 years. Beers becomes cash ier at Connecticut National. new directors include Farrell Williamson Havens. Hough moves to president of City National. Terrill becomes cashier. Garene named assistant cashier. Severn joins First Bridgeport board.
On January 13 in New York the market quoted Sterling at 3.70 1 2 for 10 day bills and 3.70 1 2 for 60 day commercial bills with demand at 3.72 1 2 and cable at 3.74 1 2. French francs posted at 11.20 demand and 11.18 cables. Dutch guilders at 0.871 and 0.875 are shown for demand and cables. Lire listed at 13.42 demand and 13.40 cables. Deutsche marks at 1.95 demand and 1.94 cables.
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