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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jun 07, 1921
Page
15
Market action shows investment rails plunging 1 to 2 points with stock losses and weak foreign exchange amid British industrial concerns. Rail and sugar sectors weaken as general business stalls awaiting price readjustments. Call loans steady, London demand weak, and bond prices ease as total sales reach aggregate values around 12 billion.
The Reading company properties will be partitioned under a decree approved by the court. The Reading and Iron companies will reemerge as the Philadelphia and Reading Railway under a new name. General Union Trust of New York is named trustee to take over Lehigh and Wilkes-Barre Coal stock from Central Railroad of New Jersey.
Prices for June and Castor at York declined as aid lines liquidated amid expectant crop figures. Weak foreign exchange and reports of showers in the western belt spurred liquidation, despite initial gains from English labor news and Liverpool cables. Active months fell 13 to 22 points, October down to 14.05, with a broader slowdown as domestic demand faltered.
Retiring Burgess Machine Co offers entire shop contents in a market auction. Items include Brown and Sharpe Universal Miller with attachments, Kempsmith Mills,Radial Drill sets, Hendey lathes with taper attachment, Pratt & Whitney equipment, precision lathes and screw machines, planers, drills, grinders, metalworking tools, small tools, and office gear. Auction set for Thursday June 3 at 12 noon in New Haven Connecticut.
Sugar demand grows as refined sugar prices edge up and cash quotes hold firm while futures slip on Wall Street pressure. Cotton market shows steady spot price with modest gains as traders weigh near term demand and harvest signals. Notice: all claims against Corbett Candy Company must be filed by June 25, 1921 with J Walter Scheffer receiver at 186 Main St Bridgeport Conn.
Chandler Motor company today announced a quarterly dividend of $1.40 per share in New York. The move marks a reduction from previous rates as the firm adjusts its payout.
Chicago and New York wheat futures closed unsettled with minor gains in July and September as exchange rate jitters spurred volatility. Reports cited bearish crop conditions from Kansas and Oklahoma, strong domestic buying, and rumors of fresh European export demand despite persistent foreign selling pressure. Provisions overall declined slightly while corn and wheat showed uneven moves amid currency-driven nerves and shifting spreads in July and September contracts.
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