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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
May 13, 1920
Page
17
Brokers report broad declines across sectors on May 1 as large banks warn textiles and other traders to brace for panic. Sugar shares fall after government blocks higher retail profit. Replogia Steel seen rising due to its large Valadium holdings, and money rates climb to 10 percent.
Yesterday's stock notes show steel and iron markets dampened by rail congestion and factory slowdowns. High grade steel supply constrained by mill operations, while railroad strike reduces finished steel movement. total market activity weak with 29.275 million in value and 750 thousand shares traded.
In New York on May 12 butter held steady with varied dairy quotes. Creamery and cream products showed mixed prices at 59 to 104 cents, with extras and fines, while lard and oats remained firm. Reports note steady raw silk and mixed colors in related markets as commodities traded with modest gains and unchanged lines across several categories.
Cotton prices rise amid continued unfavorable weather and crop conditions. Export and port stocks data show steady demand. market factors include dwindling liquidation from tender failures and ongoing freight shipments. Notices include legal, tax, and dissolution items for local entities and businesses in Connecticut.
Liberty bond final prices reported in New York with multiple series and values. Chicago notes a new high for the corn market due to wet weather and wheat purchases to ship to Harape. Washington reports increased imports of gold and earnings from January to April, including a swing in shipments from England and Europe.
In New York on May 12 clearing house exchanges totaled 728,128,264 dollars with balances at 80,941,543 dollars. Sub treasury credit balance stood at 56,338, federal reserve credit balance 64,702,291 dollars. Other financial news continues on page 16.
May 12 report from New York details in gray goods division a persistent easing bias on sterling and mixed shifts in yarns and warp goods. Quotations show steady demand for heavy goods, with shipments cautious and prices fluctuating among fabrics and silks as traders monitor market signals.
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