Naugatuck Valley Industrials Upgraded on Gains
N A U G A T U C K valley industrial stocks rise as trading closes with a new high for the year. N E Telephone gains one point while other utilities hold steady with little change.
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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
May 30, 1922
Page
11
N A U G A T U C K valley industrial stocks rise as trading closes with a new high for the year. N E Telephone gains one point while other utilities hold steady with little change.
William T. Abbott of Chicago, a Treasury Tax Simplification Board member and vice president of Central Trust Company of Tunix, died at a hospital following an appendectomy performed about ten days earlier. Separate notices announce sealed bids for student transport for 1922 26 in Easton with bid deadline June 10th and a Trumbull town meeting May 1927 to approve up to 16000 for a state road extension from the Macararam road to Trumbull Centre.
The Leverty Drug Company organized May 15 to continue Golh & Platt Co wholesale drug business. The firm issued 360000 in stock, with 55000 shares of preferred and 899 shares of common, paying $10 per share. Officers include J A Leverty and W Runyon. The new company will maintain drug sales and relocate a warehouse to Golden Hill Street.
Dorothy Moore, a slender figure with wavy hair, runs a Fifth Avenue New York shop where she restores antiques and does carpentry work. She can detect a Saline Chippendale chair and remodel furniture like a single entonial bed into a double beg without harming the finish, saying she has finally embraced her hobby of using a saw and hammer.
New York stocks showed breadth and strength with gains in rail and oil shares but retreated on profit taking as speculation centered on transportation issues. Uncertainty rose over rail wage talks and a potential strike while the Supreme Court ruling on a Southern Pacific Central merger added volatility. Copper and steel news supported optimism, and money rates edged up late on renewed loan activity and clearing house payments.
Realty records list warranty and mortgage deeds involving many hands. Names include Cornelia Fitch, Joan Landry, Antoni Ignatovich, Marla Osberg, George McLavy, William McLevy, Joseph Maloney, Mary Barkey, Kezimier Aleknawler, Carl Anderson, Charles Berger, Louie Raffel, Morrla Reme, Frederick Morgan, David Boothe, Stephen Boothe, Ruth Slavatsky, Minnie Harrison, Francis Marsh, John O Neil, Nellie Holmed, Meriden Permanent Building and Loan Association, Helen Engleman, Carml Hubbe, Lucie Weel, Arthur Griffin, City Savings Bank, and others. Properties are described by street names and measured feet, with purchases and mortgage actions across Bridgeport, Ash Crook, and surrounding areas.
High volumes and broad gains marked today on the Curb Exchange as Standard Oil issues and leading oil stocks posted significant advances. Indiana, Kentucky, New York shares gained with Imperial Oil and Canadian International Petroleum hitting new highs amid profit taking in select issues. Mining stocks rose and some oil shares lagged due to realized sales while others moved up on market sympathy and coverage of property developments.
The Supreme Court today ruled against the Internal Revenue Service in a Maryland case involving a stock rights distribution. The court held that the rights were not subject to income tax, aligning with the lower court’s finding that the rights represented stockholder interest and the original cost basis.
The Yale & Towne Milling over Stamford declares a 3 percent dividend payable July 7 to holders of record June 17. American Tube & Stamping resumes operations at its street plant after 14 months, employing about 40 workers with production rising. Remington reduces debt via portable typewriter sales and lowers accounts payable by around 100000, aided by inventory cuts and improving sales. Boston & Albany and Swift & Co declare regular dividends payable to stockholders of record late May and early June. Connecticut incorporations total 17 with 1.3 million capital, while bankruptcies rise with 17 firms entering receivership. The Gen Electric Tel & Tel and related firms announce dividends and trust payments across the period.
New York May 9 The belief that definite results will follow Allied Reparations Commission talks boosts interbank exchange activity. Last week’s averages show mixed gains and losses among major currencies as markets weigh further delay and anticipated settlement.
Otis Textile in Ware Massachusetts announced that its plant, idle since March due to a weavers strike over a wage cut, will reopen Wednesday. The firm, employing about 1,700, said it will provide protection for workers resuming duties.
Chicago wheat prices tumbled as a rush of carloads arrived and heavy receipts loomed. May and July contracts dropped to 1.18 3 4 to 1.19 1 4 per bushel, with Sept weakening near 1.16 3 4, oats and corn also eased while provisions showed mixed moves. Leading holders sold into the brief rally, triggering a broad market retreat.
In New York on May 9 prices show Tin firm with spot and near terms around 26.0 percent for No 1 Northern and 29.00 24.00 for No 2 Northern. Southern No 3 listed at 18.00. Antimony and other metals show steady or unclear figures amid limited readable data.
A jump in Southern Pacific Central Pacific collateral trust 2 dominated today's active but uneven bond session. Rail issues rallied after wage-cut news. eastern lines and transcontinentals gained fractions to over a point. Copper bonds rose on refined metal prices. Mexican bonds fell. total par value sales reached $16.04 million.
Market summary from New York reports a steady butter market with creamery extras and firsts quoted in varied cents. Milk and cheese prices show firm tendencies, with whole milk flats specials and different grades listed, reflecting ongoing price fluctuations in the dairy trade.
A merger agreement is reached between Electric Alloy Steel of Youngstown and Atlas Crucible Steel of Dunkirk. L Campbell and A Hunter announce the plan to form a new company with Campbell as chairman and Hunter as president, leveraging substantial stock and plants in Ohio and Dunkirk.
Money ruling tale fragment references attestances and a strained exchange among speakers. Phrases appear garbled with quotes and partial dialogue about going to the dogs and friendship. Readable facts are limited. no clear event or outcome emerges.
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