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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jun 27, 1922
Page
13
The local market saw mixed but optimistic activity with gains for Waterbury Gas, Connecticut Light and Power, and various listings. Saugatuck Velie and American Hardware posted notable price rises while several utilities and industrials fluctuated, keeping the week’s outlook cautiously positive amid unsettled sentiment.
Anna Bote, 22, presides Hancock Savings Bank Hancock Va becoming the convention’s youngest bank president. She notes early entry into business and plans to study law next year. Her father serves as county treasurer in Pottawattamie Ia and she previously served on a jury in Ber Gonry. Financial records show several local property and loan deeds involving residents and City Savings Bank, with multiple realty transfers and mortgage details listed.
New York June 25 dull trading characterized by modest activity in bonds and stocks. Liberty Group issues showed strength but no new records. British loans firmed quietly amid a firmer tone. Notable gains appeared in Central Pacific, Kansas City Southern, and Missouri Kansas Texas among others. total sales reached 14.758 million dollars. New offerings included Wabash Railway and New York Team Corporation bonds.
A June dairy market note shows export demand lifting butter and creamery products. Creamery extras reach 1 to 2 dollars per unit while creamery firmer grades and whole milk specials push prices higher or steady. Local markets reflect firmer tendencies across milk, cheese, and related dairy items with various grades listed.
Warranty Deeds record transfers for Henry EB Seeley to Charles Brennan and others, listing several property parcels by owner, street and feet. Quit Claim Deeds show transfers including Victoria Form to Miller Slate, and Bridgeport Savings Bank conveyances on Berkshire and Dewey streets with multiple parties.
June reports from the Department of Commerce indicate fabricated structural steel sales rose sharply, with May totaling 146000 tons, up from 50.6 tons in the previous year. The boom reflects broad building activity and a postwar economic revival across the United States.
Local records show a week of activity with trade name filings and dissolutions. Bridgeport Grocery Company and Modern Battery Service Company are among new filings led by J 2 and James McCann and Bygone Philips and CE Clarke respectively. Dissolution notices include Beard-Shelton Company and Graham-Etna Cigar Company. West End Bottling Company incorporated by Julius Kibelsober Ancone Waly and L A Wornblut to produce nonintoxicating beverages with authorized capital stock of 80 000 and 600 shares at 100 par, starting with 30 060 in outstanding stock.
The Dow Jones data show new railroad securities offered to the public this fires five months totaling 856 4906 000 with equipment trust certificates making up 451 28 506 000. Rentals fund interest and principal via sinking funds. Norwalk Hosiery Mills Incorporated forms with 50 000 capital and new finance plans surface as railroads face sizable obligations and corporate reorganizations unfold.
New York copper and iron prices show little movement with spot and futures steady, lead and antimony listed at modest ranges. Separately, bank incorporators plan to organize loans from fifty to one thousand dollars, and Edmund Wolfe of First National Bank is elected president of the Connecticut Bankers Association and Connecticut representative on the ABA nominating committee.
Tomag and Nettleton in New Haven announce a policy to keep mortgage rates as low as possible at six percent. An official says local practice and rental value affect rates, with higher value districts more profitable at six percent while poorer districts may still yield seven percent. The firm has managed to accept reassignment loans at six percent, though some loans remain at six to seven percent.
Curb markets show draw in miscellaneous securities while overall trend remains irregular. Mexican Kenboard and Voting Trust Certificates lead activity with steady volume and potential for new quotations. Indiana, Standard Oil, Tobacco and Dubilier related issues display varied performance amid announcements and expectations of dividends and distribution deals.
Chicago wheat futures drop 15 to 21.4 cents as rain and crop damage fears dampen prices. July at 2.11 1-8, September 2.13, corn down about 1 3-8 cents, oats off 1 8 cent, provisions mixed amid exchange rate and shipping outlook concerns.
Money desk reports strong call money in New York at 3 1/2 percent, high 4, low 4 1/2, ruling rate 4, closing bid 4 1/2, last loan 3 1/8. Call loans against acceptances 1 3/4 to 1 3/4 percent.
New York reports indicate a suspected attempted corner in Mexican Petroleum triggered a rally back to the lead. The stock rose from 181 to 204 1/2, then settled near 195 for a net gain of about 9 1/4 points for the day. Pan American Petroleum and related oils also rose, with some profit taking later in trading.
Foreign exchange conditions were confusing yet remittances trended firmer. Sterling rose from last week's low while French bills remained the only notably strong note. Continental rates rallied modestly with Frankfurt and Paris figures cited amid broad fluctuations in currencies and authorities.
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