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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Jun 28, 1923
Page
17
In New York trading bond prices fell across most sectors as a market selloff widened. Government issues held firmer with modest declines while rail mortgages and industrials slumped, with losses ranging up to three points on some issues. Total par value sales reached $11.853 million.
New York June 27 curb stocks faced continued selling pressure marking a week to ten days of liquidation. The market saw new lows across standard and independent list, with gains brief and uneven. Gillette Safety Razor rallied from 7 48 to above recent lows but could not sustain the advance amid heavy activity elsewhere.
In New York Cottar outlines opening actions as tensions rise over member drovers. Open hearings reveal dangers faced by the sector amid shifting duties and regulation.
Liberty bonds in Chicago June 21 influenced by New York market weakness. Wheat futures dropped to fresh seasonal lows as traders cited rains slowing harvests and improved crop conditions in the spring belt. Corn and oats resisted declines while provisions and hog prices sagged.
In New York a moderate drift in the foreign exchange market featured slight gains for the Italian lire and Irish franc. Sterling dipped to $4.4058 per pound, while the German mark traded around 2,480.05 per pound. Demand and quotes varied for Belgium francs Swiss francs Spain and other currencies with little uniform direction across most major pairs.
At a fruit stand on North Ashland Avenue near Chicago, a shooting incident left Mr. Owens and Mr. Oliver wounded. The event disrupted bystanders as a banana dropped shattered a tile and prompted ambulance transport to the county hospital. Police from Diesplainies Street Station investigated the melee.
A turbulent New York trading day sees weakened marginal accounts liqui dating in a bear attack with railroad averages dragging, large scale stock liquidations led by steel and industrials, decline in rail shares amid wage speculation, and broad selling pressure across the market.
Ralph H. Couch reports on US auto production reaching near one car per two families by year end 1923. May output hits records with about 660000 vehicles produced, plus 45000 trucks, while demand outpaces supply and deliveries lag. Industry broadly anticipates continued high output though sales struggle against production.
In a heated exchange sparked by the Gary Committee report, church leaders and the American Iron and Steel Institute align against a universal twelve-hour day. They contend the plan undermines workers welfare and family life, while engineers push for economic and social considerations endorsing shorter hours. The debate contrasts religious advocates with industrialists and naval officials, stressing wage effects and industry power.
Deeds record numerous transfers including Rose to Seeley on Woodrow Avenue and Contey to Stewart on Lindley Street. Multiple entries name buyers such as Willing, Nygren, Josephson, and Schnee with properties on Maple, Taft, Lindley, Pine, and Lavret avenues and streets. Mortgage figures range from $1,000 to $7,000 as part of the Bridgeport Realty records.
Change Nam Savery & Cotton Inc will be the Taewnie by which de Cedi Tool and Gauge Corp will be lawn reverding per papers on file. Hugh Lavery and John A. Cotton Bridgeport firms clear exterior of Mechanics and Farmers Bank at Main and Bank Streets. work removes dust and weathering to refresh the building. Will Kreet, Building Pro by plan of architect Leonard Avheim, Peopres Vaal Co will erect a two story office building at 12 Admiral Street with the first floor for general use and second for executive offices.
High and low price movements noted with closing bid and accepted offers. Offers included bed in an unspecified asset and several acceptances, including four mentioned by name.
Moscow reports June 27 a commercial postal agreement between Soviet Russia and Mongolia. Elhek Dorshy, head of Mongolia’s Commercial and Diplomatic delegation, says the pact will spur trade and expand exports of weather, wool, meat, and livestock with Russia acting as intermediary.
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