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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jan 27, 1923
Page
19
Postwar deposit comparison shows Bridgeport banks surging with totals rising from 73,904,244 on Oct 1, 1921 to 83,394,745 on Jan 1 this year. Savings institutions hold about 59,000,000 while commercial banks total roughly 24,? million, indicating broad-based prosperity and higher per capita wealth.
Classified note offers a 30H Siisi-Harley Davidson motorcycle and a nervous, incomplete ad about a store with fixtures. Mentions four reams, rent reasonable, suitable for any business. Contact Noble Stillman Street Goddard Avenue.
Durant investors face confusion over curb quotations for Durant Motors and other Durant enterprises as discussions of free or transferable stock skew perceived value. Analysts warn that limited transferable stock means quoted terms may mislead buyers, with potential spillover effects if sellers outpace buyers. Meanwhile Studebaker directors plan a Jan 21 meeting amid expectations of a continued $10 dividend, with some chatter of a possible extra cash payout viewed as unlikely. Federal Reserve data show cash reserves at a record high of $3.222 billion for the week ending Jan 24, with small net gains in bills discounted and a drop in redemptions. Total gold reserves rose nearly $3 million, while New York banks spent about $5.9 million in gold.
New York January business shows a solid month with improved demand and prices. Orders rise at higher levels as production costs stay high. labor shortages and delivery delays dampen some outlooks and prompt talks of restricted offerings and limited commitments.
A series of quit claim and warranty deeds records listing transfers of real estate among individuals and companies. Names include Albert G. Lengehegger Nellie J Grant Mary I T Allen The Lomas and Nettleton Company Henry J Neal Frances M Arnold Theresa Neal and others. Properties on Main Street Garfield Avenue Lincoln Avenue Wayne Street Lexington Avenue Harlem Avenue and State Street among various grantors and grantees.
In New York cotton trading, spot cotton rests at 27.85 while May futures fall to 47.96 as selling pressure from reports of rising spot offerings and a large spring crop looms. Liquidation intensifies with shorts exposed and prices retreat from last May's high, amid ongoing foreign exchange notes.
New buying from commission houses and short covering supported curb trading in New York. Motor shares led the day with Durant of Indiana and Stuca among notable gainers as Canada, Cuban Dominican Sugar, and coal issues advanced or held steady on modest selling. Fleischmann, Phoenix Hosiery, Todd Shipbuilding and Mesabi Iron saw gains, while Gillette Safety Razor and Schulte Stores eased on light supply.
Chicago grains traded mixed as Germany seeks funds for food imports and fears of Ruhr occupation dampen exports. Wheat fell early on demand concerns, then recovered late on hopes of American financial aid. corn and oats were pressured by heavy export prospects and adverse Argentine crop reports. Hog prices held firm despite higher quotes for pork and provisions.
In New York the market saw an oversubscription of 350 million in Bethlehem Steel and Republic Iron bonds and renewed weakness in French issues. French loans sagged with 71-28 and Trench bonds hitting fresh lows while copper firms rose on a metal price uptick.
In New York money markets, observers note a modest easing with rates around 4 1/2 percent, the ruling rate at 1/2 percent, and closing bids near 4 1/2. Calls against acceptances remained a focal point for lending activity.
Copper quiet spot and futures at 143 44 and 39 87, tin firm near 40.12, iron steady, lead firm at 8 0ih and 337, zinc quiet around 6 95 to 7 90, antimony at 7 12, electrolytic spot and nearby bids noted in New York market report.
Washington June 26 A Labor Department survey shows worker earning power rising in most base industries across the United States. Hourly pay rates are up while output per worker declines in some areas. In thirty days per capita earnings rose in steel, shoes, shirts, and textiles. several sectors show gains of 2 to 8 percent with declines mainly seasonal or in automotive and clothing sectors.
New York January 26 market trading was spotty amid unfavourable abroad news and weekend profit taking. Consolidated Gas led activity on the big list, Fisher Body jumped on Durant bid, and Jersey Central hit a new high. Domestic conditions dominated with emphasis on dividend prospects and earnings reports.
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