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Newspaper
Charleston Gazette
Location
Charleston, West Virginia, United States of America
Date
Dec 12, 1925
Page
11
Market notes show prices moving up despite heavy profit taking with bullish sentiment from Mellon. US economic cues, forecast updates, and mixed commodity signals influenced wool, grains, cotton, and major equity issues as investors weighed potential dividends, policy shifts, and quarterly results.
In New York on December 11 reports show cotton goods quiet with 8 cent prints and concessions on other grey cloths. Bleached cottons branded at four-four volumes sold, wool markets down five percent from last week, raw silk higher, burlaps weaker, Calcutta market quiet.
In New York trading, bond prices showed strength in high grade issues though overall demand remained tepid due to abundant investment funds. Issuers offered attractive new offerings, with a $15,000,000 9 1/2 percent bond issue for Atlantic American Western Petroleum and a $6,590,000 American Mine bond issue highlighted as heavily oversubscribed.
Raw sugar unsettled with Cuban at 2.02 duty paid and duty free sugars at 1.22. Sales reported for Philippines Incal at 3.96 and Cuban to an outpart refiner at 4.02. Futures slipped with December 2.27, January 3.82, March 2.56. Fine granulated sugar steady around 5.00 to 6.69.
Chicago wheat prices tumbled on December 11 amid ble gelling orders and reduced demand. Nearby contracts fell about 4.5 to 1.84 for December and May futures slid, while corn edged lower and provisions held near unchanged. In Toledo and New York markets, bids for Clover seed and Timothy followed cash quotes, with December and March positions listed. Flour in New York also eased on a light trade.
New York notes indicate stock market observers expect tax selling as investors defer profits until March 1927. Pender Grocery Co expands by acquiring Colvin. G12 per cent notes due 1926 retirements and an extra dividend from the Carang lispewrlter company are reported. Trading closes after Christmas with margins thin and market volatility rising.
Irregular foreign exchange quotes from New York show mixed demand and rate figures for major currencies including Britain Belgium Germany and Japan. Tokyo authorities plan to crack down on uncredentialed doctors amid a surge of unauthenticated practice reports.
Cattle receipts total around 47 000, with feeders weak and fat cattle mixed. Heavies bid near 10 to 12 dollars, steers to 34 or 35 dollars, yearlings and lambs show varied gains and declines, with packers and shippers active and holdovers noted. Sheep and lamb sections show lower bids on some lots, with fat lambs and yearlings mixed in tone. Market details reference weights from 100 to 180 pounds and include notes on locality and trade activity.
The Tennessee Coal and Iron Railroad, a U S Steel subsidiary, announced immediate improvements to its Birmingham properties. The project, totaling about 10 million, will expand at Fairfield near existing large plants adjacent to rich ore and coal mines. President George Gordon Crawford stated additions will begin at once.
In Manila Senator Joe Veloso is sentenced to two months and one day in Billbid for biting a policeman during a raid on a gambling den. The story mentions a companion plane campaign, pay disputes, and editorials critiquing legislators. Also notes Crame ordering jazz bans at concerts and U.S. rice competition remarks from Tokyo tied to J W Jones.
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