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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Mar 17, 1935
Page
8
Stocks edged back after a morning rally as traders noted limited demand and light news. The Dow industrials fell about two points while United States Steel and General Electric slipped, and several favored issues led gains among preferreds in a quiet session.
New York March 16. A decline of 1.25 to 1.35 a sale in cotton today was linked to further foreign selling and renewed liquidation. By deliveries sold off to 10.90 or 27 points below Friday’s final quotations, the market closed at the lowest with net declines of 22 to 27 points. Opening weakness followed a 11 to 19 point drop despite steady Liverpool cables and active foreign sellers. Officials attributed nervousness over the international monetary situation. Trade bought offerings and week end covering. Around 63,000 bales remained on shipboard awaiting clearance, down from 150,000 a year ago.
The nation sees a spring upturn as about half of 12 Federal Reserve districts report rising retail demand and anticipated spring sales. Auto production increased to 97 090 units in the latest week from 86 973 units previously, Crain's estimates show.
The Southern Ol Company seeks a permit to build a gas line service station at the northeast corner of North Main and Howell Streets. A Board of Adjustments meeting will be at 4 30 p m Friday March 22 1935 in the Chief FE K Ingram Fire Department office 205 South Wrenn Street. Interested parties may attend to be heard.
Several persons became homeowners in the last 80 days through local purchases. Partial list names buyers and addresses including Emma Lou Thorpe at 200 Lindsay Street and John Fred Taylor at 088 Randolph Street among others.
Chicago March 16 Sears Roebuck and Co reports net profit for the year ended Jan 29 1935 of 15020551 after all charges and federal taxes up from 11249295 in 1933 and a 2543651 loss in 1932. The firm shows 1934 profits equal to 313 per share on 4794715 shares outstanding. Directors declare a 75 cent special dividend payable May 1 with records April 1. no regular dividend planned until late 1935.
The Bureau of Air Commerce reports a three foot high vertical T shaped aircraft radio antenna as among the most suitable designs for flying the beam of radio range directional beacons on the Federal Airways System.
Glover Bedford, reassigned to the Rose Furniture Westinghouse refrigerator department, departed last night for Cleveland Manefield and Springfield Ohio. He will spend ten days visiting Westinghouse refrigerator plants and study new styles.
The main plane used by a large ocean liner was catapulted from the ship about 800 miles from Southampton England the first port of call saving more than a day on mail deliveries.
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