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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Oct 06, 1927
Page
20
New York stocks showed resilience after a sharp initial drop as large loans boosted confidence. Prices recovered late in the session with varied gains and losses, while bond issues and commodity prices also moved, with steel and tobacco shares among the weaker spots.
In the current issue of The Situation the monthly printed bulletin discusses business conditions and stock and grain markets. It examines the trend of export trade and its importance to future business and security, noting its value as an interesting subject.
Pursuant to section 3498 of the General Statutes of Connecticut The Title and Guaranty Company of Bridgeport organized under a special charter and located in Bridge votes to charge its corporate name The Bankers Security Trust Company and applies to the Superior Court for Fairfield County to effect the change The Title and Guaranty Company of Bridgeport by Araca F Covsom its President.
Foreign exchanges steady with rates listed for major currencies including Great Britain at 496 7-16 for demand and 485 27-22 for cables. Other currencies shown include France 392 3-8 demand, Italy 52 1 4, Belgium 13 92, Germany 23 84, and various cross rates. Treasury balance for October 8 tallies 8457,365,740 with a 49 remaining.
The curb market showed an erratic trend with many issues drifting lower at close while a few chain stores held gains. Bancitary corporation jumped 8 points to 118, Johns Mauritie Truscon Steel and others remained strong, Celanese and Celluloid fell, and utilities slipped slightly with United Light and Power trading heavily but near prior close.
Cotton futures eased across several contracts on Oct 5 with October at 2047, December 2096, January 2096, March 2110 and May 2198. Spot market remained quiet around 91.00.
Bond prices trend upward while sales reach a fair volume. The Italian Kingdom issues and public utilities dominate within the market. Field-Interborough Rapid Transit leads, railways falter, and government issues show irregular activity.
Wall Street notes show September steel sheet industry output at 6.95? per cent and total sales near 950000 tons, up 700000 from August, with 257000 tons unfilled. American Water Works and Electric reports 310 a share earnings for the year ended August 3. Italian bonds and utilities dominate today’s bond market as prices rise.
Rubber closes barely steady with December at 3360, March 3410, May 3420 as trade winds through curb markets. Prices showed minimal movement with slight shifts due to short covering and light demand amid open interest staying muted.
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