Stocks Climb in Short Market Session Despite Weekend Hesitation
The Associated Press reports a brisk rise in the 90 leading stock index to 186, marking a yearly high as bears cover positions. Utilities and industrials led gains while some names hit 1930 peaks amid mixed commodity moves and weak foreign currencies.
MENTIONED IN THIS ARTICLE
New York
Youngstown
Chicago
American Tobacco
Allied Chemical
North American
American Power and Light
Pacific Lighting
A. S. Steel
Burroughs Adding
Cutler Hammer, Foundation Co
McKeesport Tin Plate
Olive Farm Equipment
Remington Rand
United Aircraft
United Biscuit
Gulf States Steel
Laclede Gas
Interborough
Midland Steel
Underwood Elliott
Farm Board
Cotton Markets Faltered in New Orleans Trade
The New Orleans cotton market was quiet with prices down 18 to 21 points after an early modest gain. Weak wheat cues and liquidation pressured futures as Liverpool improved briefly, then prices eased to session lows though May and July remained near late declines. Wheat rally followed market close.
MENTIONED IN THIS ARTICLE
New Orleans
Mar
New York
Liverpool
New York Stocks Report Large Mixed Closing Movements
Trading shows broad gains and losses across major industrials with Ford, General Electric, DuPont, and US Steel moving notably. Prices bracketed by oil, tobacco, and consumer goods firms as volume reached 1.62 million shares with uneven sector performance.
Cotton dips on New York market as liquidation renews
New York March cotton prices eased amid renewed liquidation linked to wheat declines. May contracts fell from 15.52 to 15.29, closing near 15.29 with losses of 20 to 28 points, while March dropped to 15.00 and October to 15.65 as old and new contracts traded modestly lower. Liverpool showed some buying but demand remained light amid week end selling and weak wheat signals.
MENTIONED IN THIS ARTICLE
New York
Mar
Liverpool
Textile markets steady with mixed signals at week end
New York reports quiet cotton goods and unchanged percale prices as delivery period ends. Raw silk prices weaken to new lows while silk fabrics sell moderately and fine wash fabrics move well. Burlaps firm, rayon production contraction noted.
MENTIONED IN THIS ARTICLE
New York
Mar
Wheat contracts show recovery on brisk buying
Wheat futures rose for March and May as buying by farm board allies offset earlier losses. July and September contracts fell on expectations of a large crop. Liverpool price drops and weak export demand pressured values, while forecasts of a cold wave and Hessian fly infestations supported some buyers.
MENTIONED IN THIS ARTICLE
Chicago
Mar
Farm Board
Liverpool
North America
Atlantic
United States
Corp
Wall Street Briefs on Dividends and Failures
Dividends declared by Standard Oil affiliates in the current quarter total about 65.7 million dollars, a record for the period, up from 63.16 million last year. February business failures reached 2,262, the most since 1922, with comparisons to years past. Steel mills in the Youngstown district expect a production cut next week, with Youngstown Sheet and Tube and Sharon Steel Hoop Co. reducing capacity from 75 to 70 percent and a smaller cut at Sharon Steel Hoop Co.
MENTIONED IN THIS ARTICLE
New York
Mar
Standard Oil
R. G. Dunn and Co
Steel
Youngstown
Youngstown Sheet and Tube Co
Sharon Steel Hoop Co
Camera to Inspect Drilled Wells During Boring
A camera is developed to be lowered into wells as they are bored. It studies the well courses to detect errors in drilling.
Bond Market Slips in Dull Trading Session
In a quiet bond session few issues led activity. American Telephone privilege bonds rose to 160 3 4 amid a 1 point gain on about 1 million par value. Parmelee Transportation and rail issues such as Rock Island refunding 4s and New Haven 4 1 2s showed firm tone while Interborough Rapid Transit bonds slid after a court ruling on a 5 cent fare. Turnover under 100 000 for Liberties and treasuries.
MENTIONED IN THIS ARTICLE
Joan L. Cooley
Associated Press
New York
Mar
Phillips Petroleum
Sinclair Pipe Line
Interborough Rapid Transit
New York Traction
Power and Light and Telephone Company
Liberties
Treasuries
Future trading in livestock begins on Chicago exchange
Chicago March 1 The Chicago live stock exchange opened the first organized future trading in livestock with hog carloads changing hands for later delivery at prices above current cash quotes. Trading started at 10 35 a m after speeches welcoming the new market. A crowded room and blackboards filled the scene as traders worked March April May June and September hog deliveries. The first carload of standard lightweights for September delivery was bought by Wilson and Company at 12 a hundred pounds.
MENTIONED IN THIS ARTICLE
Chicago
Chicago Livestock Exchange
Stock Exchange
Chicago Board of Trade
Wilson
Wilmington Seeks Lower Freight Rates For Hides
A state corporation commission hearing will be held in Raleigh on March 4 to consider lower shipping rates for hides and tanning extracts from Wilmington to western North Carolina tannery centers. Local officials say most imports move via Norfolk due to higher rates, despite Wilmington’s shorter distance to South America and the tanneries.
MENTIONED IN THIS ARTICLE
Wilmington
Mar
North Carolina
Raleigh
R. A. Pool
Wilmington Traffic Association
Norfolk
South America
Whisky Buyer At Asheville Convicted
Asheville police court convicts John Fryer for buying liquor from Homer Shipman and W A Webb and sentences him to 60 days in jail. On Fryer’s testimony Shipman and Webb receive 60 day terms for carrying transporting and delivering liquor.
MENTIONED IN THIS ARTICLE
Asheville
Mar
John Fryer
Homer Shipman
W. A. Webb
Fry
Shipman
Webb
New Notaries Commissioned in Raleigh Area
New notaries of public commissioned today include Eugene Benton Monroe W G Byrum Sunbury Miss Hettie L Council Elizabeth town J M Dorman Tabor Mrs Mildred Rankin Lassiter Raleigh Miss Annie R Marshall Weet field D B MecBridge Charlotte Miss Jessie CC McComb Charlotte D F Siler Greensboro D L Suiter Littleton Raymond Hy Ward Littleton and Miss Fam ine L Williamson Charlotte.
MENTIONED IN THIS ARTICLE
Raleigh
Mar
Eugene Benton
Monroe
W. G. Byrum
Sunbury
Hettie L. Council
Elizabethtown
J. M. Dorman
Tabor
Mildred Rankin Lassiter
Annie R. Marshall
Weetfield
D. B. MecBridge
Charlotte
Jessie CC. McComb
D. F. Siler
Greensboro
D. L. Suiter
Littleton
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Moler
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America
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Walnut St
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By Claude A. Jagger
Associated Press Financial Writer
NEW York Bonds
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