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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Nov 10, 1924
Page
17
New York reports a spirited market rally led by railroad stocks amid favorable election outcomes. Analysts note improving business prospects, strong rail earnings, and high car loadings, with 12 000 freight cars moved in the week ending October 26 setting a record. The outlook hinges on policy support for transportation and a cautious view on postwar European competition.
Heartfelt thanks to natives friends neighbors Singer Manufacturing Edgeport Brass Company and the Bete Alpha Club for kindness and floral tributes. Announce anniversary mass for Mrs Lis of Sandy Took and Mrs C E Smith at the parish church Tuesday at 3 a.m.
New York nov 9 a sensational upsurge in rail stocks pushed many major rails to new high levels and gains of 2 to 9 points for the week. Strength was tied to expectations of political outcomes freeing railroads from consolidation plans while industrials faced profit taking and strength in steel and Can amid a broad market rally. Sterling and other currencies rose on the Republican victory and Britain’s Conservative trend.
Washington Navy reports reveal an Economic World Survey to supplement the Dawes plan, stimulate production, revive industry, and restore international trade. President Booth of the International Chamber of Commerce says the work has only begun and calls for a constructive program aligning business interests worldwide to hasten postwar reconstruction.
Washington Nov. Connecticut federal land banks closed 1,152 loans totaling 3,877,050 while Maine led with 2,161 loans worth 6,066,559. Massachusetts 1,326 loans valued 3,060,005 Vermont 2,423,700, New Hampshire 1,010,775, Rhode Island 342,850. Interviewer asks about voters choosing the best man and a Legion tailor remark follows.
New York reports show weakness in crude cottonseed oil offsetting higher linseed and metal salts, pulling down the Chemical and Metallurgical Engineering weighted index to 154.49 for the week, from 164.79 last month. Tin and tin compounds rise, while arsenic inquiries grow. denatured alcohol stays firm at 55 cents per gallon. Flaxseed pricing and linseed oil gains round out the market picture as the coal-tar sector holds steady ahead of iron and steel demand.
Wall Street circles report a Bassick-Alemite merger with Stewart-Warner, potentially affecting productivity at the Bridgeport plant. Edgar Bassick, president, is away and not expected back soon. Bassick-Alemite, formed 1928, makes Alemite lubrication systems with factories in Bridgeport Chicago and Meridian. The company has 20,000 shares of common stock and $6 million of 7 percent preferred stock, with 1929 totals of income $1,041,672 and net income $1,422,584.
The Federal Reserve Board reports a definite revival in business volume over the last six weeks, with increases in September and October compared to June to August. Production remains below last year, but the board is optimistic about potential immediate improvement and a generally prosperous period ahead.
A nationwide survey covering cities over 10 000 in population reports a building shortage totaling about 34 000 000 000 with 2 528 cities noting shortages 4 050 820 000 in shortages residential 2 102 898 000 commercial and 870 270 000 for public buildings across many metros.
Bureau of Railway Economics tabulates operating expenses and net income from 1916 onward. 1920 had the highest total operation costs at 6.101 billion, with net income only 0.3 percent of revenue, while 1924 saw net income surge to 961.7 million despite only a 1.8 percent rise in total operating revenue.
Irv ing Fisher's weekly index tracks wholesale prices and money purchasing power using 200 price quotes and weights from War Industries Board. The article notes the 1920 May peak at 147 percent of prewar prices and a 40.5 cent value of the dollar, referencing Dun's weekly data and Fisher's index methodology.
The New York Times reports vast injury losses among U.S. workers and huge annual costs. Campaigns in major plants educate and safeguard employees, reducing accidents by about half over eight years. Training, medical departments, first aid stations, and safety posters lead prevention efforts.
The Crystal Ice Company is organized to manufacture artificial ice and run cold storage. Incorporators include Johannes Anderson, Hubert J. Bishop, Samuel J. Lynes, Morris Gruntzier, John T. Hayes, Samuel J. Keeler, Albert H. Malkin, Edgar G. Murphy, and Edward M. Wellss. Murphy is president with Malkin as vice president and Keeler as secretary treasurer. Directors include Gintzler and Lynes. A $200,000 tow plant is planned for Butler Street. contract signing set for next week.
New York reports a nation wide study pairing industry and science to boost worker happiness efficiency and productivity. Alfred D Finden leads the initiative with the Engineering Foundation and National Research Council guiding a broad coalition. Participants include AFL Bureau of Vocational Information Harvard University University of Pennsylvania University of Chicago Dartmouth Bryn Mawr Northwestern Michigan and other research bodies.
A compiled list of patent lendees issued on November 4 1924 with names and locations including Harold B. Hawes Bridgeport Harry Tves Bridgeport Bengt M W Hanson Hartford Willam H Barrington Hartford William H Honiss Hartford Jerry J La Ducer Hartford Alfred A Rees New Haven Ebenezer Hill South Norwalk Norman B Frord New Britain George E Prentice New Britain Knud Koudson Danbury George H Phelps Murray press forging Frederick Ruetler Waterbury John L Sikora Waterford Harvery P B Still Burnside wee I Verne Fairfield Frank W Willer Watertown tilon Keaney New London and other designers and inventors.
Illustration presents two pants showing the scar and the accident aftermath with the injured workers named alongside the pictures. The piece notes how literature, circulars, and chair notices are circulated weekly in plants to reinforce safety lessons.
New York reports last week saw bond prices rise to year highs as trading expanded beyond the 1924 boom. Rail issuers led gains with more than twenty recording new highs, aided by election results easing legislative fears and supporting merger and dividend plans.
Formal application for a bank charter will be made today by the preliminary organization proposing to start Black Rock Bank and Trust Company in the section of the city. The stock is 100000 dollars and a capital plug of 25000 dollars has been raised. Publication of intention has been carried out for three weeks. The bank commissioner will set a hearing date on the application. Other Bridgeport banks are expected to oppose the new bank at the hearing.
Washington banks report total resources on October 19 at 23,323,061,000, the highest since November 15, 1920, in a release by Comptroller Dawes. The report notes a 750,090,000 rise since the June call and an 81,610,185,000 increase since September 15, 1923, signaling continued prosperity and growth.
National Automobile Chamber of Commerce officials announce a December 21 and 22 Boston conference on highway transportation issues. Shippers automobile group members railroad electric line officials and city and state executives will attend. Sessions focus on motor bus use by trolleys and motor trucks by railroads to move less than carload lots. Topics include reclamation of deserted farm lands interstate development motor coach operation highway congestion reduction and safety promotion.
Experiments show copper, zinc, brass and silver kill microbes on contact yet are susceptible to chemical attack. In the tests germs survived on platinum, nickel and pure gold when freshly cleaned and polished.
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