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Newspaper
Canton Daily News
Location
Canton, Ohio, United States of America
Date
Aug 15, 1925
Page
6
Wholesale buying rush sweeps U S centers as demand for worsted and textiles rises. Improved crop prospects, steady prices, and strong rail revenue freight signal broad purchasing power, while autos, clothing, and wool sectors bolster textile and nonferrous metals strength. Potential threat from anthracite strike clouds outlook.
On Aug 15 on the New York Stock Exchange the market showed strength in industrials and a few rails while profit-taking tempered gains. General Electric, Mack Trucks, and steel issues led the rally, with motor truck stocks and General Motors in demand as earnings and carage prospects supported prices. Cotton and grain markets were quiet after Friday's swings. government cotton data failed to shift current prices, and quotations edged down several points.
Prices held firm for fruit and vegetables with only slight declines noted. Concord grapes led declines at 60 cents a pound while fresh arrivals appeared, butter tea and meat markets unchanged, wheat from the New Canadian crop arriving in Winnipeg as better European weather pressured prices abroad.
Weekly close activity reflects modest buying and firming in shares amid ongoing competition between eastern and western markets. Pathe Exchange and Fox Film hold steady while Western Power advances. industrials like Durant Motor and Reo Motor see mixed moves as profit taking caps gains.
A brief note urges Canton investors to buy Canton stocks, claiming better returns. The message emphasizes local purchase options and suggests superior performance for holders.
In New York on August 15 prices for print cloth remained at 9 3 4 cents for 64x60e and 10 3 8 cents for 68x72s, with raw silks raised by five to seven and a half cents per pound as the market stayed sluggish.
New York reports rubber at 80 cents a pound, down two cents from yesterday. The decline follows recent jumps and contrasts with 1.10 dollars per pound a month ago and 25 cents a year ago, signaling volatile commodity markets.
Boston August 15 Raw wool markets closed the week quietly with buyers resisting price ideas. Some Australian merinos sold at 1 to 1.05 clean and Montevideo 56s brought 42 a die in fair volume.
Chicago Cleveland and Pittsburgh markets report butter eggs and cheese prices. Butter creamery extra around 40 to 46 cents, eggs 28 to 31 cents, cheese various types 22 to 24 cents, live poultry and potatoes listed with regional figures. Includes Boston style listings for multiple cities and crates of diverse produce quantities.
New York bond activity ends the week with focus on select issues. French government bonds rise while German issues gain little. New Haven converts lag markets. Denver and Rio Grande Western 5s reach strong prices. oil sector issuances buoy convertible bonds. Federal reserve weekly data show a $15 million fall in non government investment.
Livestock notes from Chicago and Cleveland markets show high grade beef at five year highs while medium cattle soften. Hogs decline from peaks with light runs and heavy carryovers. sheep and calves hold steady with steady to higher veal and lamb prices. Pittsburgh and western yards report varied but generally steady trends across receipts and prices.
Denver reports the sale of Western Public Service Co the operator of power and light plants across six states to Eastern Texas Electric Corp a Stone and Webster subsidiary Boston notes temporary utility certificates granted to 11 bus lines to January 1 1926 San Francisco tallies 16 million barrels oil shipped to the Far East in six months including 11250 barrels for the Japanese navy New Orleans records the rice carryover at 95400 pockets Portland notes the Columbia river salmon pack will be among the smallest in years Oregon Washington Idaho fires warm waters Chinook salmon gather outside the river Hazleton reports Coxe Brothers coal mines Gowen No 1 and 8 leased for 20 years to a Philadelphia led syndicate Turlock cantaloupe prices drop shipments east on consignment and the watermelon growers set a 1250 a ton floor.
Joseph Dinicic, age 17, son of Mr and Mrs Matthew Dinicic of Estin near Navarre, died Friday evening. Funeral services set for 9 30 Monday at St Clement's church with Rev N Espin officiating. Burial in St Clement's cemetery.
Opening Liberty bonds in New York show varied prices for 3s and 4s with new issues listed. The report also notes Mrs. Alice Fagan of Sioux City, Iowa, is the great grandmother of six children despite being under 60.
Strong activity on both sides of the wheat market ends with declines from 1 2 to 15 8 cents. Sept 1.59 1 8, Dec 1.57 1 4, May 1.60 3 4. Export demand quiet, spring movement rising, and hedging pressure noted. Corn and oats soften with slight weekly losses. lard and ribs also slip. Toledo cash grain mixed with prices for wheat, corn, oats, rye, and barley listed.
Stark farmers and Stark County groups held their annual picnic at the fair grounds with a 40 piece band from the area. Prizes were awarded in races and contests for men and women, and officials noted the event featured refreshments, games, and entertainment for rural residents.
Satur day session shows DuPont gaining over 10 points to 165 a new high. General Electric climbs to 327 while United States Steel adds about one point to 122 3 1. Industry edges higher with rails and oil subdued. The week ends with industrials at historic highs and volume around 700 000 shares. Trumbull Steel and other names trade on the Cleveland and Chicago boards amid steady grains exports and rising auto shipments.
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