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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
May 06, 1927
Page
24
New York May 6. Upward stock movement resumes with many issues hitting new year highs. Steel and auto shares led gains while some industrials and rail stocks posted mixed results. Investors watched federal rate signals as credit conditions remain favorable. several names reached new 1927 tops though overall action remained uneven with some losses.
May ore prices and electronics components cited with spot and futures. Tin at 6S.40. lean prices unchanged. Antimony spot 12.87. Market details include 8.7 spot and futures 0.615 and general price reads for metals and tires industry notes.
Wool sales continued in London with about 3900 sold as buyers competed. Prices remained unchanged while makers showed steadier tone, despite altered dates and improved competition across the market.
Commerce data show Europe driving increased US exports in March as global demand rises. UK remains top customer with $72.1 million in Amera Foods, while Germany buys $38.98 million in exports. rubber price drops trim American imports.
Liberty market notes show first price at 4 1 4 then 4 1 48 with 0.06 and 0.101 143.8 199.18 values. Continued listing includes 101 28 TO 1 1088 with minor bid shifts.
Shipping records show Roma and Constantia arriving in May from New York. The Caulwaris sailed to Montreal from Liverpool on May 4 and Nieuw Amsterdam to Southampton on May 4 with New York as a destination. Also note President Van Buren ship departing New York on May 5 bound for Marseilina.
New York May 4. Henry H. Gary chairman of the United States Steel corporation today denied published reports that U S Steel would buy Colorado Fuel and Iron. He said the reports were without basis and that no such plan had been discussed.
Analysis of 1928 housing shows 492,124 families housed in various dwellings across 247 cities. One family homes declined while apartment houses rose, signaling a shift in housing supply and urban living trends.
An analysis of banking kiting shows how some individuals race to cover overdrafts by moving funds between banks. It describes dangers, legal risks, and how banks now detect and penalize such practices, ending with a warning about the consequences of risky checks and fake deposits.
A compiled list from Wooster and Davia patent lawyers in Bridgeport names patentees and assignees across Connecticut. Entries include The Bryant Electric Co. Stratford Pratt & Whitney New York Electric Boat Co. Hartford and other firms with inventors such as Henry A. House Yohn J. Sullivan Hubert D. Tanner Lenor B. Clark Walter Ingham Jesse A B Smith Saul Steinman The Weidlich Bros. Mfg. Co and The Strouse Corset Co among others for devices tools and fittings including hand tools fasteners machines and novelties.
Stock market averages show industrials at 164.44 on Thursday with 14008 at midweek, and week day totals rounded. The notice lists public utilities at 101 and a combined average for month and year ago, with total bond sales par value reported as 14, ATS,OuU.
The Howard movement in the stock market gathered momentum led by utilities oils and specialty shares with strong buying on the big board. Renchuly touched a new high on planned July capital increase as Illinois and other names rose. National Fuel Gas jumped 18 points to 160 while Commonwealth Power United Gas Improvement and several oil issues posted gains. Safeway Stores fell four points and several industrials dipped amid a few soft spots?
New York May 5 Butter steady receipts 12421 Bees irregular receipts 697 Presh gathered firsts 28 34 to 25 Potatoes steady Maine old Green Mountain .04 Florida new per barrel 7 50 to 62 receipts 82 crates per 180 jks Cabbages stronger with fluctuating demand and incomplete notes on market activities.
In quiet trading New York bonds held firm while market chatter focused on Secretary Mellon and whether to call the remaining Second Liberty bonds by November 1. Rumors spoke of potential issuances totaling about 41 million to 56 million for unnamed corporates as bankers explore advances to New York. Prices for Brie D 4s rose to 113 before profit taking trimmed gains. Seaboard and Sinclair issues advanced modestly.
Foreign exchanges in New York on May 5 show steady quotations across major currencies. The report lists bid and offer figures for Great Britain, France, Italy, Belgium, Germany, and several other markets with the Tokyo and Shanghai rates noted among Asian quotations.
In New York over the past week eight exchange memberships sold at prices from 192,009 to 200,060, smashing previous records. James B. Willigins Jr and Florence W. Goldsmith paid 200,000 each for seats of David Warstaff and W. B. Emerson, Emanuel M. Loeb took Reginald W. Bonner’s seat for 199,000, and the late Frederick W. Loew’s seat went to Benjamin V. Tharrison for 196,000. Cor Provost’s seat moved to Westey C. Morek and Sigmund M. Teanin’s to Willard Rpie at 199,000 and 194,006 respectively, with other renewals and transfers noted. The rise in prices marks the highest per-seat values in such exchanges.
In New York on May 5 Arce ton futures finished barely steadier to 17 points lower. May at 16.62, July 16.15, October 16.00, November 16.18, January 15.90. Spot middling price held at 15.80.
Market notes show closing time loans unchanged with mixtures of gains and losses across key segments. Prime mercantile activity and unit values appear steady amid fluctuating rates and investor caution in New York.
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