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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Nov 11, 1927
Page
24
In New York the stock market closed irregularly amid renewed selling pressure at the close. U S Steel rose to 135 5 8 after a quirky session, while General Motors and other majors moved in mixed fashion. The Federal Reserve weekly broker loans climbed to 83.38 billion, and tobacco and utility stocks led gains amid light trading and a cautious tone.
The daily Treasury statement from Washington dated November 10 reports a balance in the general fund of 318 million 904 thousand 950 dollars and 26 cents.
Curb stock prices rose late with high priced issues leading gains. Safeway Stores Pittsburgh Lake Erie Spanish River Pulp & Paper topped 125, Deereds Co hit a new high, Olla advanced then fell back, Vacuum gold peaked 138 1 2 before retreat. United Power & Light B and American Gas Electric rose, Caterpillar Western Dairy, General Baking A B also hit new highs while Gold Seal Electric dropped to a new yearly low. Davenport Hosiery Mergenthaler U S Gypsum and National Sugar Refining declined to new lows. Kemsley Mill stock rose to 16 and the 6 percent bonus jumped to 149 7 8.
Chicago notes a start of actual wheat harvest in Argentina with warm weather and good quality samples, easing the market briefly. Prices opened mostly steady to lower for wheat and futures, while corn and oats trended downward and provisions showed mixed moves before closing nervously.
Butter firm receipts 11 70 percent creamery higher than extras 92 score 49 1 248 firsts 88 to 91 score 41 1 248 Eggs firm receipts 16 542 Cheddar receipts 125 309 Potatoes firmer receipts 44 car Long Island bulk per 180 lbs Green Mountain 4 25 to 4 50 Maine dto 3 86 Maine cobblers per 180 lbs 3 50 to 8 75 New York bulk per 160 lbs ground white 3 76 to 4 00
The October map shows improved business across 30 states year over year, with declines only in Rhode Island Virginia Florida Arkansas and Colorado. Gains were strongest in grain and cattle sectors with notable advances in Connecticut New York New Jersey Maryland Delaware North Dakota North Carolina Illinois Minnesota South Dakota Alabama Mississippi Tennessee Oklahoma New Mexico Montana Idaho and California. Expectation is for holiday season expansion through year end.
Market brief lists Liberty Bond series and Treasury issues with prices and yields, showing Liberty 3 1 25, Liberty 1st 1 45, Liberty 2nd 4 1 48, Liberty 4 4 1 48, Treasury 4 1 45, Treasury 45, Treasury 3 3 45 and 3 3 8 with total 101 16.
Warranty deeds list BF Cooney to Matteo Musbuilli on Beechmont avenue and several other realty transfers on Judson place Curtis avenue Maple and Caroline streets and many more. Mortgage deeds include $1100 on Judson place and $3000 on Lincoln avenue. Quit claim notices include transfers among Abraham Podoloff and others and Ferdinando Narciso to Concetta Varone.
Patent office list from Wooster and Davis Bridgeport includes Tonjes A Both Stratford insulat ing switch shell and Henry J Grenier assignor to B Jacobs Bridgeport cue tip. Also design rights for narrow woven trimming Wackerman Bridgeport design and H A Phillips Stratford design. Receptacle by Marceau East Hartford. lathes by Whitehead Hartford and Bullivan East Hartford for Pratt & Whitney. Various assignees including Hendryx New Haven bird cage design. port-light screen Crowell Middletown. freight handling apparatus Fitch Greenwich. bathing-belt buckle Freysinger New Britain. ane-hook Freysinger New Britain. electric switch Getcheli Plainville. rotary pumping machine Hill North Stamford. industrial truck Schroeder Stamford. automatic starcher Scott Springdale. electrical fixture Volk Notwalk. renewals for Ashcroft measuring appliances and Columbia phonograph records. Meiga Meigs to Meigs & Co Bridgeport. Landers Frary & Clark New Britain. silk and thread firms. Norma Hoffmann bearings Stamford. Trumbull Electric Plainville soap holders tumbler holders grab rails.
Stock and bond market figures listed by Associated Press include first grade ralls at 674 and secondary ratio 99.40, utilities 97.28, Industrials 101.62, with a combined average of 98.94 and year age 95.66. Total bond sales par value 810.715.000. Stock averages cover 20 Industrials and 20 Rails for Thursday and week, with ex-dividend 0.20825 noted. closes at high 179.06 and low 141.33 for 1927 and 1937 references. Total stock shares traded 1,764,700.
The Treasury Department closed books on a 400 million 3 1/8 percent certificate issue after subscriptions topped a billion, signaling solid market confidence. Rail mortgages led demand among issues with several first and second grade bonds hitting new highs, while some industrial and utility issues also advanced. Foreign offerings were quieter with French issues sought but Italian and German bonds easy. Liberty bonds drew attention amid renewed buying.
Unfilled orders at United States Steel rose to 3,341,040 tons in October, up 192,427 from September, driven by large steel rail orders and oil company pipe purchases. Output remains steady as subsidiaries show continued gains, and the rate sits near 69 percent of capacity after a 4 percent rise.
Loans to brokers and dealers held by New York Federal Reserve member banks for the week ending Nov. 9 totaled 83,384,529,000, up from 3,971,705,000 the previous week, signaling a marked rise in broker financing in Washington.
Ships arrived in ports or sailed from New York with routes including Roma to Algiers and Montreal, Metagema via Glasgow, Presidente Wilson to Alexandria, Mauretania to Southampton, Tre De France to New York, Olympic to Cherbourg, and Drottningholm to Gothenburg with November 7 to 10 sailings noted.
Foreign exchanges presented mixed quotations with many currencies listed. United Kingdom demand and cable rates, France and Italy demand and cable values, plus Belgium Germany Holland Norway Sweden Denmark Switzerland Spain Greece Poland Czecho Slovakia Jugoslavia Austria Roumania Argentina Brazil Japan Shanghai Montreal and Portugal figures shown.
More than a billion dollars have been subscribed for the 400,000,000 taxex certificates aimed at retiring the Second Liberty bonds. Books closed today with issuance set for November 15, the maturity date. Treasury officials indicate no further financing until the March quarterly issues.
Call money steady with loans at 41-2, closing bid 3 1-2. Time loans steady with mixed collateral for 60-90 days at 4 4-1 and for 4-6 months at 4 1-4. Prime mercantile paper quoted at 3 3-4 to 4.
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