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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Nov 09, 1922
Page
17
Market indices rebound with gains as bears fail to dent optimism. Trading buoyed by strong performances from steel and several key issues, while cash and short-term funds shift to support higher prices amid crop-related financing pressures.
Bank clearings in the city rise steadily with September and October figures indicating a continuing upward trend. The report notes about a 20 percent increase in out of town payments and a general uptick in trade activity, alongside gains in employment and factory hours in the manufacturing sector.
A scrambled financial update shows oil, shale and market shifts across New York and Wisconsin. Officials note varied demand, with investors eyeing futures and regional production, while rail and energy stocks move on smaller regional indicators.
Building commissioners granted six permits with total value 68300. Projects include a brick church at Ridgefield and alterations to a storefront at 1143 Us Street, a one story addition at 5 Alterations Bead Street, and a two family dwelling at 183 Pacific Street among others. Users and addresses appear in readable fragments.
The Morris Bank reports a 20 percent rise in loans during 1922 with higher borrowing activity in the first ten months, and October borrowing totaling $57,888. The monthly statement notes a 3 percent increase over the same period last year, with customers expanding credit and deposits.
Washington Nov 8 Postal receipts jumped to 7 77 00 during October in 60 of the largest miles in the United States establishing a record for 1982 according to official data from the Post Office Department. The rise reflects broader business activity with October volume about 8 percent higher than September and 10 percent above October of 1921.
In New York trading today public utility issues moved higher while many industrial and private lines fell. Losses in rail and electric securities contrasted with gains for several utility and chemical issues as investors weighed outlooks and milestone rates. Public utility leaders Brooklyn City Railroad and Brooklyn Edison rose modestly as overall market weakness persisted.
The New York market reports show copper and tin wobbling with futures around 27.60 for copper and nearby delivery 7.10 to 7.15 for lead while zinc and other metals show slight movements. Industrial demand appears cautious with price ranges noted for nearby months and east coast delivery terms.
Money market in New York shows strength with late trading firm. Short-term rates moved, closing bid and offerings around six and a half, with loans and discounts active against seconds, amid varied demand and liquidity shifts.
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