Vote to Extend War Finance Corporation
Washington May 1 The bill extending for one year from July 1 the powers of the War Finance Corporation was passed by the Senate in a rushed vote amid sharp debate and without final action on related amendments.
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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
May 02, 1922
Page
15
Washington May 1 The bill extending for one year from July 1 the powers of the War Finance Corporation was passed by the Senate in a rushed vote amid sharp debate and without final action on related amendments.
Stock earnings report for America Telephone and Telegraph shows a first quarter net of 8 501 534 and earnings per share of 2.88 on 555 185 300 outstanding. Included are balance and percentage changes with confusion in figures and a dissolution notice for Lyon and Auld painters and decorators.
May 1 New York bond market shows shrinking volume and mixed moves as Interborough Rapid Transit and Third Avenue issues lean upward while New Haven and Chicago-Alton recover some losses. European offerings hold firm, Chinese and rail-related issues weaken amid war concerns. Total sales reach 17.472 million par value.
Morris Plan Bank in Bridgeport reports record loan activity for April with total loans surpassing prior records. The month showed a 19.5 percent jump over the previous best, $85,000 in December 1921, and April's figure exceeded last year's by a substantial margin. Comparisons with January through April totals for 1922 and 1921 are noted.
In New York foreign exchange dealings slowed due to a London holiday while remittances in New York showed a firmer tone. Genoa looked steadier as anthracite issues offered hope for resolving strikes. The daily rates saw some rises with French Italian and Belgian quotations up, while Scandinavian quotes softened. Far East markets stayed firm despite tensions in China and military disturbances in Pa.
A report describes a manager of the foreign department of a bank facing accusations of taking fake officers May 18 and coordinating a scheme involving international contacts including Spanish Portuguese French German and others. The article notes alleged connections with Dayton Commercial Bank and Trust and a mother field Tyter Town office. Possession of the position and ties to Horelen department are mentioned with street names and dates in Stratford Avenue and May.
The report notes mixed activity across sectors with limited clarity on specific leaders. It cites shifts in demand and unusual unity among several firms including As med and Pate Oils Standar at New Jersey, Studebaker, and Gulf Blares, with mention of dividend actions and broader money-rate movements affecting May payments.
A decipherable fragment from a Liberty Bonds notice mentions a New York firm and a contact at an address on an anonymous lane. The readable portion hints at bond issuance or investment actions but lacks complete details, dates, or names to specify the transaction or party involved.
A 1922 Science service report discusses gradual improvement in hardware and shoes demand, with declines in woods and several regions under pressure. Merchants worry prices rise and overall trade sentiment shifts toward cautious optimism, expecting late spring material changes despite widespread regional weakness.
Chicago wheat futures hovered as investors expected crop yields to dip from last year. Domestic demand remained weak but prices rose modestly on bullish sentiment, with exports and foreign demand cited as contributing factors. Corn and oats followed wheat higher, while feed demand supported grain values overall.
Cotton trade shows steady tones in May spot listings with middling receipts and slight pricing stability. Market participants note modest demand and unchanged assessable levels across key grades despite regional fluctuations.
Bank Commissioner Everett J Sturgis approves Mairfelt County National Bank at Norwalk applying to surrender its national charter and reincorporate as a state trust company under Connecticut law. A stockholder vote will ratify the change, after which the bank will liquidate its National status and transfer assets of 200000 in capital and related liabilities to the new corporation. Fairfield County National Bank reported a surplus of 75060 at end of Q1.
A British vessel, Victoria DeLarringa, reportedly wrecked on Muchoir reef about 60 miles off Haython, with details from the ship master relayed to Lake Paillé and Long Star Ship Company in New York. The fragmentary text also references assorted dairy and market items in Galveston daily listings.
May 1 report from the Dodge company notes permits and construction activity in New York and northern states. The month’s total surpasses 27.9 million dollars, potentially a record for the period.
In New York on May 1 a firm electrolytic tin market shows steady tone with spot and nearby at 31 and futures at 34.12. The quote notes a slight rise of sige 2.
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