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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jul 11, 1927
Page
15
A robust curb market week saw oils and public utilities leading gains with several issues hitting new highs. Rationales cited include strong earnings prospects and upbeat South American petroleum stock outlook. Automobiles and rayon shares rose despite softer demand, publishing and tobacco sectors remained firm, and railroads attracted demand amid new listings and equipment highs.
Cotton textiles sold in the first six months of 1927 rose 408 percent from the same period in 1926, per yardage reports from the Association of Cotton Textile Merchants of New York. Unfilled orders on June 30 were 1644 percent higher than a year earlier, while stocks on hand fell 38.6 percent from last year and 24.1 percent from January 4, 1927. June marked the first month of the year sales did not equal production, with production up 98.7 percent and sales up 4 percent. sales then accounted for 64.1 percent of production.
Wilmington July 10 L N Johnson a farmer and former state senator from Pender county announced his candidacy for the Democratic Senate nomination outlining a wet platform.
A broad survey shows numerous U.S. and industrial stocks trading with mixed results. Major listings include Fairbanks, Consolidated, General Electric, Southern Pacific, United States Steel, and Armour, among others, with price movements reflecting market volatility and sector shifts.
Bankers Capital furnishes stock quotations showing Chrysler Motor at 48 percent and Cit Stores at 0.448l. Listings include Cont Baking, Continental Thee, Contin Motors, and Cub a related notes. Numerous figures appear scattered with company names such as Dow Mines, Endicott Johnne and Duly, and Eriegha Pitts among others.
A 1927 world census shows 23.5 million passenger cars and 4.19 million trucks in use, up from 16.37 million and 2.34 million in 1924, a 60 percent rise. Growth is strongest for trucks at 76 percent over three years, with the United States leading in total registrations but accelerating growth abroad outpacing domestic gains. The trend signals rising global adoption of autos and shifting future demand toward replacement sales and foreign first-time buyers.
New York July 10 The Associated Press reports that American business starts the second half of the year with many favorable signs yet faces seasonal declines in some sectors. The half year review cites floods in the Mississippi Valley, bad weather, and a coal strike as dampening factors, while rail and oil sectors show gains. Production in steel eases, but pig iron output remains near last year's level. Overall buying holds steady, prices stable, and railroad orders rise, with mixed results in autos, textiles, and merchandise shipments.
In New York on July 10, the bond market showed a calmer tone with weekly new offerings totaling under 50 million dollars, a record low for the year. Dividend and interest disbursements boosted reinvestment funds, easing credit pressure while an oversupply of new material continued to weigh on prices, despite some improvement in high grade bonds.
New York July 10. Copper prices moved up slightly as the market awaited June statistics. Export demand stayed active and electrolytic supplies at 12 3 2 cents appeared absorbed, with sellers holding for 13 5 8 cents. A few small buyers paid the higher figure late in the week.
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