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Newspaper
Bridgeport Telegram
Location
Bridgeport, Connecticut, United States of America
Date
Sep 14, 1922
Page
15
Nineteen firms were incorporated in Connecticut last week as compared to the prior week. Total authorized capital stock for these firms is 750,000 against 1,532,800 previously, with the five year table showing variations in authorized capital during early September periods.
New York butter markets show quiet to steady tone with creamery extra trays at 404 to 409 cents a pound and firsts around 306 cents. Cheese high grades remain steady to firm with whole milk cheese at around 224 to 235 cents, nearby white fancy about 62 to 68 cents, and nearby brown fancy near 80 cents, amid irregular trading and mixed quality notes.
New York metal market notes tin at 25.00 to 27.00, seed steady around 6.90, zinc steady near 6.00, tin and nearby delivery quoted at 6.30 for East St. Louis, antimony around 6.25 to 6.70. The report lists quiet copper and steady seed with mixed prices across electrolytic spot and nearby contracts.
Cotton in New York quiet at middling 21.0 with prices around 21.62 to 22.18 per unit. Canal money drifted lower to 4-1/2 with last loan around 4-1/2 against acceptances 3, indicating tighter credit conditions.
New York reports a weekly public offering exceeding 480 million, the largest since early June, with firm prices across bond types. Rail mortgages and utility stocks led gains while some issues like Erie and Chicago and Alton showed weakness. Mexican and French securities fell slightly as exchange rates weakened. Total par sales reached 16.0 billion. A separate Swift and Company note issue of 50 million faced strong demand at 3.40% yield.
Sept 13 prices for staple commodities with a year ago comparison. Listings include corn, pork, beef, coffee, and related staples, indicating current market rates and shifts from the prior year.
New York curb market showed demand early then profit taking later. Oils led gains with Standard Oil and Imperial Oil of Canada moving briefly, while Magna Copper and Gimbal Bros weakened. Bonds held small changes and the market kept a steady to moderate tone amid mixed activity. Sixty degrees below zero noted as typical in Alaska’s interior.
Active short selling and profit taking trimmed gains in today’s stock market. Many recently active issues fell 1 to 3 points while Atchison rose nearly a point on dividend news and Cosden climbed 1.5 points amid merger rumors.
An official Department of Agriculture appraisal places six principal US crops at about 3.708 billion for 1922. Wheat, corn, cotton, potatoes, oats, and hay accounted for large shares, with farm prices rising overall from the prior year. The report notes urban prosperity tied to rural income and predicts wheat prices may advance as harvests abroad are poor.
In Chicago on September 13 the wheat market fell from earlier gains as export demand weakened. December and May futures slid while corn and oats eased. buyers from Liverpool failed to sustain prices. Provisions rose modestly but with light trading as market activity cooled.
Liabilities of bankrupt firms filed in Connecticut courts last week reached 189 144 dollars, up sharply from 19 250 the prior week. Ten firms filed petitions, vs six in the week before. Assets stood at 166 226 dollars, yielding about 85 cents on the dollar. Liquidation rate reached 120 percent, higher than the prior week. The table compares weekly filings with years back to 1910 and 1921, showing varied totals.
The Yale & Towne Co of Stafford declares a regular quarterly dividend of 5 percent on capital stock for stockholders of record September 18 with payable October. Western Union also declares a regular quarterly dividend payable October 11 to stockholders of record September 25. Local firms receive building contracts for a new schoolhouse in Belltown with subcontracts to William T. Beck Brennan Stone Co and A W Burritt. Western Union reports increased summer business. Crawford Laundry plans a three story brick building on Fairfield Avenue with plans by Fletcher-Thompson Inc for investment purposes. The sun rises at 5 and sets at 6 year round in Naurau.
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