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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Mar 14, 1928
Page
24
New York stocks surged with Radio Common leading gains as a broad market rally followed by an investigation into a potential technical corner. Trading records fell as enthusiasm cooled and profit taking lifted some rails while others tumbled amid volatile swings and widespread activity across the NYSE.
A dense OCR style list shows numerous stock transactions and prices with many company names, person names, and figures intermingled. The fragment reads as a sprawling ledger of bids, asks, and trade notes across markets and securities with scattered percentages and values.
Bid and offer activity dominated by call money and short term loans. Major bond and stock listings show mixed to firm prices with notable gains in select rail and manufacturing issues, while several industrials drifted on light volume and cautious investor sentiment.
New York March 18 The St Paul Railway new issues showed strength with over subscription of Fed government short term issues keeping prices steady with firm undertone. Bonds traded over 2.5 million par value rising to new highs as 58 of 2000 advanced to 66, closing just below. Other rails like Florida East Coast and Nickel Plate saw moderate demand while Andes Copper rose though overall utility shares softened. Public offering for Metropolitan Edison mortgage bonds to retire 82 054 600 appears tomorrow.
Wall Street News Notes reports rising investment activity with United States new business up 97 percent in February year over year and total new business reaching 164.49 million dollars. It notes premiums and distributions, US and European stock movements, Debenhams Security rights oversubscribed, and Canadian Pacific Railway earnings per share for 1927.
Treasury balance shows a daily fund total of 47 708 86 with noted figures and states the United States balance.
Stock averages and bond data appear with mixed figures for rails utilities and industrials. The report lists daily high and low values, total stock sales, ex-dividend marks, and monthly and yearly comparisons, attributed to the Associated Press.
Foreign exchange rates listed by the Associated Press show bid and offer quotes for world currencies in New York on March 13. The table covers Great Britain France Italy Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Portugal Greece Poland Czecho-Slovakia Jugoslavia Austria Roumania Argentina Brazil Tokyo Shanghai Montreal with various bid and cable figures.
Rubber futures closed irregularly with March at 2400 May 2400 and July 2460. Spot smoked rubber priced at 24 1 2.
Charles G Morris elected vice president of General Ice Corporation now merging with Eastern Dairies. Board declares a $150 par value per share common stock dividend structure and quarterly dividends. Nine new directors elected as the merged entity aims to expand leadership.
Grain prices advance as bullish crop outlook from Kansas and Nebraska feeds buying by leading houses in Chicago trade. Wheat gains 1 to 5-8 cents with March at 1 3/4 to 5-8 higher, corn climbs 1-8 to 5-8 with May near 97 5/8, oats mixed, and provisions up to 7 cents.
Cotton futures closed steady or slightly higher with gains of 8 points across near months led by March at 1656 to 1857 and May at 1871 to 1873. July 1855 to 1867 and October 1826 to 1827. December 1816 to 1817. Spot quiet, middling 1906.
Stockholders are asked to approve flexible conversion options for Class A stock tied to $1100 debentures. Current market equivalents show 1,040 and 1,030 aggregate selling values in the last quarter for different conversion paths. A special meeting is set for March 22, 1925 at 10 o clock AM at 223 South Couga Street Tihaei New York to consider amendments enabling stock attachment to debentures and the issuance of stock upon warrant exercise.
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