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Newspaper
Canton Daily News
Location
Canton, Ohio, United States of America
Date
Jun 07, 1929
Page
16
Trading picked up with a firmer tone on the New York Stock Exchange. Early losses gave way to gains as utilities and rail names led advances. New highs appeared for Erie New Haven Air Reduction and Trico Products while U S Steel and Bethlehem rose.
New York stocks opened with uneven trading, utilities, rails, and electrical shares showing strength while many issues held. Erie and New Haven hit year highs. Standard Gas & Electric and American Water Works reached new utility records. Timken and Central Alloy Steel steady at noon amid broad gains and a 7 percent call money rate.
Fragmented OCR shows grain and poultry price listings with wheat varieties No 1 and No 3 scheduled, hay Timothy, and poultry rates for light hens and heavy springers, indicating a local agricultual market brief with commodity quotes.
Foreign exchange figures show steady early trading in New York with the franc at 0.390 lire 0.623 Belga 1.868 marks 23.5 percent up 0.0 percent.
The Treasury reports a net balance of 129.5 million dollars on June 6 and customs receipts for the month to date totaling 8.18 million dollars.
In New York on June 7 the bond market maintained its steady tone with convertibles generally firm and utilities quiet. Government bonds held little changed as rail liens rose, Public Service Corp 4 1 2s led gains, and American Telephone 4 1 2s plus American International 5 1 2s posted small advances amid broad but modest activity. Foreign issues fluctuated within narrow bounds, with Chile 6s, Columbia Mortgage Bank 68 and 7s and Argentine issues among notable movers.
Curb quotations show renewed strength in public utility shares with Commonwealth and Southern and utilities like Electric Bond and Share, Mohawk Hudson Power, and Northeast Power trading at or above recent closes. Bristol Myers edges up in the industrial list while other sectors hold steady amid mixed action and a Treasury coupon event.
The Hardware & Supply Co. plans a new store opening in Massillon on Saturday with Fielding L. Huesman as manager. The Canton hardware veteran joins a Massillon facility taken over from the old Russell Co. plant, featuring wholesale and limited retail distribution of mill and plumbing supplies, valves, pipe fittings, builders hardware, and contractor equipment.
Hogs and cattle price ranges listed for June 7 with receipts and top figures for Cleveland Pittsburgh and Chicago markets. Includes hogs lean weights 90 to 350 pounds, beef steers and cows, vealers and sows, plus sheep and lamb quotations and receipts across the three cities.
Foreign exchange closed steady in New York. Sugar futures opened higher for July and remained steady for several contracts with modest changes. Raw sugar dull with spot prices around 2.52 to 3.55 and refined granulated sugar listed at 5.
Chicago and Toledo market notes show wheat advancing sharply at opening with oats and corn moving up, driven by wet conditions in the winter wheat belt and expectations of a $500 million farm relief fund. Prices quote: wheat 7-4 to 11-2 higher, corn 5-8 to 11-8 cents, oats up to 1-8 cent.
Corrected market list of smoked ham and various beef, pork, lamb, and poultry cuts with prices. produce items include lettuce, onions, carrots, cranberries, and citrus. dairy section notes butter and eggs with pricing. sources: Harry H. Dean and Nick Patituce.
Daily produce market quotations list Butter Eggs Poultry and Potatoes with regional prices from Cleveland and Chicago. Highlights include Maine Green Mountain potatoes at 2.25 per 120 lb sack and home grown at 60c per bushel in Cleveland, Eggs at Chicago firm market with firsts 30 30 1/2c, Butter around 42 to 48c, and live and dressed poultry prices in Pittsburgh region.
At a Friday hearing before the county commissioners the road debate over a 66-foot right of way was adjusted to use the present width. Petitions claimed $319 350 in damages for land seizure and injury to remaining property. State officials indicated consent to using the current right of way and possible widening at some points to proceed with the paving this season.
Canada Dry sues Magic Beverage for unfair competition while Loft offers new stock at 9.50 a share. Standard Oil upg gasoline station price upstate by one cent. Ford increases tri motor all metal air transports to four weekly. Lake Erie coal dumpings to June 7 reach 8,043,350 tons vs 5,534,081 a year ago. Caldwell and Taylor option eyed by Standard Oil of Ohio. New York Federal Reserve ratio at 83.3 percent, Federal Reserve System 74.4 percent. No early relief in money tight market says George M. Reynolds. City of Cincinnati borrows 950000 in 4 percent bonds, serial 1930–1959.
H A Greenberger of Canton based H A Greenberger Co completed negotiations for a 50 year lease of the Prout Block to Lt. Resnik of New Haven Conn. The rental rests on a 10 000 dollar per foot front value, with the lease over 50 years estimated around 3 million dollars. Greenberger said he traveled more than 10 000 miles to reach agreement. The leased block is Springfield's leading business location.
Boston June 7. Several grades of combing Ohio fleece wools sell at slightly easier prices. Delaine 64s and finer wools offered at 40c grease for good lots. Demand slow with small sales. 58s 60s run 43-44c grease. 56s firm 44-45c, 48s 50s ease to 42-43c grease.
Bank clearings total 1.28 billion dollars in New York with clearing house balance about 151 million and Federal Reserve Bank credit balance around 149 million. The figures reflect the city’s financial activity for the period ending today.
In New York on June 7 cotton futures opened lower with July at 68.88 cents a pound, September near 18.80, December 19.04, January 18.96, and March 19.06, each down from the previous session.
COLORADO SPRINGS Colo June 7 A man who ascended not by gas or motor but by pushing a peanut with his nose tells why being a snob helps rise in life Bill Williams master professional ascender from Rio Hondo Texas says the Boston professor who urged graduates to hold noses high is right Williams credits lifting his nose above the Texas prairie and the mob for his success He notes his long ascent and jokes about marrying the boss’s daughter as part of his rise
In Lima 1600 members of the International Brotherhood of Magicians gathered for the convention. Roberta Byron, a Philadelphia schoolgirl age twelve, astonished the audience with feats of magic on her first big public appearance.
The city planning commission approved the Edmeyer Park No. 2 plat on Broad av NW and the Mangus allotment on Brant av NW. They also dedicated land for the Nimi sila et SE extension. Separate items include a permit for Berger Hosiery to reconstruct a store front at 209 Market av N costing 1500, and a residence permit for Dr. J. A. Tucker at 1710 Vassard NW costing 10000.
Former pupils and teachers of the Green Ridge Schoolhouse in Starkee return Saturday for a reunion marking the 104th anniversary. A quartet from Howenstine and Canton will perform. Emory Gauze and Willard Heimach will lead, with Rev. G W Klotz and others as speakers. James Steinmetz leads the organizing committee.
The Y W C A gym will host a fun festival Friday night by the Girl Reserves with booths sideshows and refreshment stands. Girl Reserve triangles will vie for a silver cup for the funniest stunt as a parade begins at 7 through the association building corridors followed by a lively program.
Friends in Canton report the death of Walter Gregor a former Timken Roller Bearing Co employee who died Thursday in Wheeling. Funeral services will be Saturday at 2 P M at his Wheeling home and burial at Bay City M. James J Shissler infant son of Mr and Mrs C R Shissler died Thursday noon at home with two brothers a sister and grandparents mentioned. Funeral arrangements listed with Maughiman Funeral Home and Rev J L Herron in Canton.
The Sweaney Bakers of Canton schedule a 2 30 p m game against Waco Cul in Canton Saturday. Berrodin or another pitcher will start for the home club. A Massillon journey Sunday to face Hose sectioners is upcoming with new players joining the roster to boost the team.
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