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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jan 31, 1924
Page
17
The Bridgeport Telegram reports U S Steel stock led an upward market move while bond activity rose, with coverage of market trends and investor interest. The piece notes rising stock levels and broader bond market activity affecting financial sentiment in late January 1924.
New York Jan 30 foreign exchange firm with demand and cable quotations for major currencies. Great Britain pounds at 4.26 and 4.266 with day bills at 4.34. France 4.61 and 4.94, Belgium 4.10. Germany次 and other nations show marginal shifts.
Liberty bonds trading in New York closed with first 3 1 28 gu 11. Firet 453 99 9 tld second 99 11 First 4 1 4 da 3 Second 4 1 4 s 99 15 Third 4 1 49 99 81 Fourth 4 4s 99. Treasury 4 14s 100 8.
Tre Port Jefferson Stearhbost company to acquire a new steel steamer for enhanced Gulf traffic. Expansion plan includes allotting a capital increase from 50 000 to 250 000, with a winter transfer of the older Park ity for off‑season service and a new schedule next summer. If a suitable vessel isn’t found, construction of a new boat will be pursued for the 1925 season.
Spot cotton remained quiet as middling stood at 33.40 cents. The market opened unchanged from yesterday’s close and fluctuated within a narrow range, ending a few points down or up from the opening. A Houston dispatch notes Texan land preparations are late and August sowing unlikely this year. Weather and regional reports indicate scattered powers in the South Atlantic and Gulf states.
United States Steel announces an extra 50 cent dividend on common stock, spurring opening gains but later panicked selling. U S Steel led day activity with large blocks traded near 106 and later around 167, while Bethlehem and Republic Steels gained about a point. Oil and chemical shares moved unevenly as market volatility rose, with Davison Chemical and American Woolen among notable moves.
A Meigs building sale shows $750,000 in mortgages held by a group led by Samuel N and Abraham Schnee and Harry W Walker. Bridgeport Savings Bank holds one note. $600,600 plus $280,000 on a D Bell note financed the cash portion. Purchase price totals $1,064,000 with a lease to 1980 and no immediate building changes planned.
Wheat displaced corn in Chicago trading with higher sentiment and strong absorption of offers. Wheat closed unsettled up fractions, May near 1.108, July around 1.093, while corn finished weaker. Oats hit new seasonal high, weather and supply factors cited. traders note limited old-crop supplies and ongoing futures activity.
Ledger style report shows metal prices with references to spot and futures for zinc lead tin and copper. Mentions Washington treasury balance and various regional price figures, all in terse OCR form with unclear spellings and figures.
Real estate transfers include National Holding Co to Bridgeport Savings Bank for 500 068 dollars and to Frank J Belt for 250 000 dollars both on Main street. Other deeds list Angelo DiGruttalo to Louis Beum rind and Louis Baumrmid to Angela Di Gruttolo on Maple street and Park Avenue with values 1 460 dollars and 400 respectively. Quit claims include Metropolitan Tire Insurance to William Rothwell and others on Main Street for 150 000 dollars. Additional transfers involve Thomas Bromey to Richard C. Beyond on Jewett Avenue and Arthur Gibson to Mary TL on Stapleton Place.
The board approved multiple building permits including a shop on Third Street for Jacon brequent block. a 20 percent increase for a State Street shop addition. a garage at 23 Ives Court for Gentile. an addition in a State Street shop for FH and S. a frame house on Woodruff Avenue for JT O’Connor. a storage shed at 112 Quince Avenue for CG Mucerino. signs on building at 1078 Main Street for DO. Schulte Inc. at 567 Water Street. a sun parlor and porch at West Morgan Avenue. a garage storage building at 1927 Seaview Avenue for M Mudre. a concrete bleely store at 83 Main Street. remodeling for 96% Madison Avenue for V Nellie. a frame addition at 156 Cottage Street for R Cuevara. a frame garage on Rove Avenue for K W Mane.
Washington reports from Jaciles that the central bank observed a stronger business and industry climate reflected in a large December increase in deposits. Total deposits stood near 576 million dollars higher than a year ago and up by 92 million versus December 1, with December deposits around 1.2 hundred thousand more than prior month.
U S government and treasury issues held firm in New York trading with some bonds rallying on favorable treaty news. Liberty issues saw heavy turnover as British buying supported prices, while Virginia Carolina chemicals and traction liens faced mixed results amid earnings reports. Bond auctions and new issues were announced, with municipal and port public improvement bonds expected to open bids soon.
In New York the curb market showed erratic moves with oil shares rallying on news Standard Oil Co of New York may take full control of half the common stock. Oil majors like Standard Oil of Nebraska and Crescent Pipe rose, while Burk eye Pipe fell on a dividend reduction news. Industrials fluctuated with Imperial of Canada and Galena Signal slipping and few firms holding gains.
Fragmentary text appears to reference money markets in New York with mentions of loans rates collateral and commercial paper. Details are garbled. no specific names dates or figures are clearly readable.
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