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Newspaper
Cincinnati Commercial Tribune
Location
Cincinnati, Ohio, United States of America
Date
Aug 06, 1925
Page
10
Cincinnati August 5 buyers in wheat hold firm with slight futures gains while cash trade shows steady demand. Hay market remains in a rut with scarce receipts, high white and mixed hay prices and strong buyer interest for No 1 to No 2 grades.
Official York Curb Exchange ledger shows total stocks 355,200 and bonds 1,065,000 in daily turnover. Numerous tickers such as Am. G. & El., Atlantic Fruit, Cont. Tob., Ford Motor, Pure Oil, and W orld firms appear with bid and ask levels across stocks and bonds, reflecting broad activity in diverse sectors.
Spearree Tire and Rubber declares a 1.75 dollar preferred stock dividend payable October 12 with record September 15 and a 2 percent common dividend payable October 1 to holders of record September 15. Great Northern Railway calls an October 8 meeting in St. Paul to elect four directors for three years. E I du Pont considers an eight dollar annual dividend with an August 10 payment date for the 40 percent common stock. a 11.20 quarterly on old shares. United States Rubber buys 6 000 acres in Malaya joining 22 000 acres, production planned next year. Bradstreets lists July bank clearings at 41 965 701 000 down from June, up 12 percent year over year. Power Corporation and New England Power Company potential merger plans. New England Power issues eight million new shares to be offered, 300 000 outstanding. Continental National Bank of New York increases capital to 16.5 million, rights to subscribe August 15. Lawyers' Mortgage increases chartered stock. Chase National Bank names changes in leadership with Edward R. Tinker moving to chair duties and Halstead G. Freeman becoming president of the securities arm. Albert H. Wiggin remains a bank director and president.
NYSE activity shows seven months of 1925 totals reach 240 million shares with daily 878 thousand traded. Industrials share 838.72 percent, rail 16.27 percent. volume boosted by new industrial listings. Vacuum Oil declares 50 cent extra dividend per share for holders of record August 31. three Klehe m Steel officials resign Archibald Johnston H S Snyder and William M Tomkins. duties reassigned among remaining executives.
The Journal of Commerce reports about 734 new enterprises with authorized capital totaling 1,066,860,000 have been incorporated in the United States since June 1923. Since the start of the year, 5,805 concerns were organized with 5,498,243,786 dollars in capital.
New York analysis notes a strong overall business posture yet flags serious hazards. It cites real estate booms stock speculation rising living costs and foreign competition as ongoing risks. Wool textile wages show a modest ten percent cut while some mills resist reductions to preserve labor relations.
Chicago and Detroit area cattle trends show price stability with active demand for fat steers and light butcher cattle while hogs slump under slow sales and heavy discounts. receipts total 8 641 at Chicago with 761 calves. other cities report mixed gains and steady sheep and lambs amid varied weights and top quotes.
New York reports daily foreign exchange rates with London Sterling near 4.857 and 4.85 on cables, French, Italian, Belgian and Dutch listings, plus Germany Austria and Japan values. Rates cover demand and cable quotations, with notes on Hong Kong Shanghai and Havana checks and other global currencies.
Federal Light and Traction declares quarterly 20 cents cash and 1 percent common stock on 15 dollar par to holders of record September 15 payable October 1. Also quarterly 1.50 dollars preferred to record by August 15 payable September 1. South Pittsburgh Water Company pays 2 percent on 5 percent preferred semiannually to record August 5 payable August 19. Iniken-Detroit Axle issues 1.5 percent preferred quarterly payable September 1 to August 20. General Petroleum pays 50 cents common and 4 3 percent preferred quarterly to record August 15 with preferred payable September 1 to August 15.
New York money rates show call money at 4 percent with bids at 4 1/4 percent and last loan at 4 1/4 percent. Time loans quoted 4 1/4 to 4 1/2 percent for 60 to 90 days and 4 1/2 percent for four to six months. Bar silver at 69 3/4 cents per oz Mexican dollars at 63 5/8 cents. London reports bar silver at 82 1/2 cents, money at 3 percent, short bill discounts at 4 7/8 to 5 1/6 percent.
William H. Edstone of 1003 Banklick Street narrowly escaped death when his car collided with W. B. Righter of 1721 Harrison Avenue near the Capitol Theater. Edstone was pinned under the wreck before bystanders freed him. both cars were moved afterward.
In New York trading on August 5 the bond market showed little change from the prior down trend while volume increased and buying shifted toward high grade issues. French issues strengthened with 8s to 103 and 7s to pay, amid rumors of a forthcoming French loan. bankers say any new issue would be some time away.
Aug 5 Olivet Michigan report on a Christian fellowship discussion on evolution. I J Stitt Wilson former Berkeley mayor argued Darwin would be distressed by twisted meanings. He warned the survival of the fittest dogma justifies cruelty war and selfishness.
Mrs. Coolidge, wife of the President, begins formal swimming lessons at an ocean pool near White Court under Miss Mary Hernan of West Medford. She practices the side stroke and has swum daily this month, avoiding the pool's deep rocky end.
Treasury officials refused the Coast Guard cutter request by the National Woman's party to sail to sea and honor Mrs. O. H. P. Belmont. Miss Jessie Dell said the denial cited gender risks of a skirted woman boarding a vessel. Lucy Branham was to represent the party using the cutter.
A rundown of Ohio corporations filed Aug 5 listing company names towns and capital amounts. Notable entries include The Standard Con Company Dayton 125000 and The Alfred W Kimmel Company Dayton ??000 with multiple signatories. The Dick Brun Company Marion 75000. Cincinnati Porcelain Enameling Company Cincinnati 500. The Ig Tee Investment Company Toledo 10000. The Excelsior Land Sudden Cleveland 100000. The Community Park Company Steuben born F098. Paan Oil Company Martins n etc.
A batch of property transactions reports sales of three family brick homes, two family frame houses, and individual lots across multiple streets and subdivisions. Notable buys include a three family brick at 411 Elizabeth Street for 7504 by James H. Thompson via Horace Sudduth, and a two family frame on College Hill at 5821 Salvia Avenue purchased by Fred Horn for 8600 with a one car garage included. Listings show various buyers and sellers with amounts ranging from 800 to 10000 dollars, involving local realty entities such as Becker Real Estate Company Frederick A Schmidt Company Northwestern B. L. Co and Bank related transfers to multiple trusts banks and clubs.
Frank R. Callinia awards Prudential Builders, Inc. a $12,000 contract to build a wire cut brick St. Louis style apartment on Wayne Avenue Lockland, a 765 by 200 foot lot, with two five room apartments. The firm also secures a $9,500 contract from Clara Steigleder for a two story wire cut brick residence on Olivia Lane Price Hill.
A long list of property conveyances shows buyers paying amounts from $1 to $4,000 with taxes ranging from 50 cents to $14. Records cover many townships and neighborhoods including Norwood Delhi Reading Clifton Avondale and Maple Park with parcels described by lot numbers streets and subdivision names.
Mortgage notices show Paul C. Schirmer to Evanston Building & Loan Co for 44000, John P. Finnerty to Provident Savings Bank for 7000, James Balach to Eugene D. Ross for 300, Rose Guethlein to Gus Juengling Sons Co for 630, Frank Wyatt to Rosa Wolff for 375, William B. Rogers to Columbia Building & Loan, and Ralph Smith to the same for 2000.
The Zoning Board of Appeals allowed a Good Samaritan Hospital addition that would violate the 60 foot lot line rule. No complainants appeared and the board noted the hospital sits among car institutions, not homes, and the project predated the law.
A long ledger style notice records numerous mortgage cancellations and transfers. Names include Eugene Dohmitt Anna Harrison Gerhard Huelsman Joseph A Huelsman Rosalia Vangerovsky Southwestern Mortgage Company and several banks and lending firms with sums noted such as 8000 11000 30000 4000 and 6500. The list names multiple individuals and lending institutions with associated amounts reflecting paid off or reassigned mortgages.
Jacob Showers aged 80, retired Kentucky farmer, returned to Cincinnati to visit the Grand Hotel where he once managed forty years ago under the A. G. Corre Hotel Company. He still counts many hotelmen as friends and met August Hobelman, longtime Grand billiard room manager and former companion.
Service Director Hornberger said two gangs were leveling hollows on Madison road east of Woodburn avenue using crushed stone tar and rollers. Heavy rains have delayed laying material, and dry weather is needed to reach a passable condition, with weeks expected for completion.
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