Stock market dull as rally stalls in oversold zone
The market stayed heavy in New York with the technical rally from recent liquidation appearing finished. Bears pursued soft spots as industrial news checked advances and trading remained cautious.
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Oct 23, 1929
Page
3
The market stayed heavy in New York with the technical rally from recent liquidation appearing finished. Bears pursued soft spots as industrial news checked advances and trading remained cautious.
Thos B Bell of Oklahoma City testifies that Sargon eased his twelve year rheumatism and constipation, gaining sixteen pounds from 96 to 112. He reports renewed strength, no pain, and improved vitality. Sargon Soft Mass Pills are sold by Cecil's Drug Store and Mann Drug Co in High Point.
Trading opened with buying and fractional gains in U S Steel American Can and General Electric before losses pulled many shares to new yearly lows. Weekly steel reviews note improving sentiment while mills run near 80 percent capacity. Oil output rose sharply last week easing prior declines.
A municipal court placed a receivership for Stamey’s Inc jewelry store at 108 North Main Street. John S. Pickett and R. E. Snow named receivers to operate the store, with Don C. MacRae representing the receivership. The store, closed for inventory, is to reopen Saturday.
The Piedmont camp No. 62 Woodmen of the World will hold its annual social for members and families in the Odd Fellows Hall on Commerce Street tomorrow night. State manager E B Lewis and Rev Herman T Stevens will speak, with Woodmen from several state cities attending. Music and other entertainment are planned.
The New Orleans cotton market opened softer on lower Liverpool cables with early losses of 5 to 13 points. Prices rallied briefly on buy orders but fell again on liquidations over fears of large ginnings from Friday’s census report, with December at 18.28 and January 18.40, March 18.69, closing mix with an overall decline.
J. L. Crouse of Greensboro North Carolina was the lowest of ten bidders for the Tampa Florida federal building extension and remodeling project with a bid of 207740 dollars.
Various quotes appear for Amer Inv B Continental Oil and Lone Star Gas with miscellaneous figures. Mot Pix Macy's and Penn Road Corp are listed among other unnamed securities.
The New York cotton market opened steady to a decline, with active months dropping 15 to 20 points in early trading. December and March fell to 18.36 and 18.75 as Southern selling increased, while frost forecasts for much of the belt spurred late buying and prices steadied.
Funeral services for infant William Lindsay Hunt Jr., son of Mr. and Mrs. W. L. Hunt, were held at 10 30 this morning at the family residence 1433 Larkin street Rev Edwin Suite officiated Burial followed in the Lebanon church family plot Flowers were carried by Mrs H B Bizzell Mrs A M Meredith Miss Sallie Lee Bizzell Miss Annie Bizzell and Miss Jessie Bizzell
In the high school library a sophomore Latin class under Miss Grace Henderson presents a Roman lamp study. Pupils Jacklyn McMullen Hallie Smith Hazel Wright Irwin Coffield Byron Abels Frances Sloan crafted the lamp using ash trays and compact lids with a brown base and blue mosaic details. The display runs today and tomorrow before Greensboro exhibition with Latin teachers, led by Miss Henderson, who also plans to show a handbuilt Roman chair by Byron Abels.
Diteman plans to cross the Atlantic in a two seat open cockpit plane he altered in Kansas City to hold a 165 gallon fuel tank. Weather reports from Belfast and New York forecast favorable conditions with ice risk at high altitude. His wife in Billings Montana confirmed the aircraft was bought and modified for the crossing. he has two and a half years of flying experience.
Alumni from Weaver College will attend a noon banquet at Calvary M. F. E. Church on East Green Street, as Rev. H. C. Byrum announces. Dr. C. H. Trowbridge, college president, will give an address, with several alumni delivering short talks. More than 200 alumni expected. no charge. transit arranged from Wesley Memorial Church.
A Newfoundland adventurer departed at 12 45 pm EST in a Barling monoplane named the Golden Hind on a solo attempt to London. The craft carried 1165 gallons of fuel for about 25 hours, with a 1800 mile ocean leg and an estimated 25 to 30 hours to complete the 2350 mile journey. The pilot left a departure note saying he planned to fly to London, and urged readers not to read his statements as fact.
Five Buncombe county board of education members were indicted on charges of irregularity in office. Indictments allege monthly pay checks given with improper deductions for unheld meetings. West is also charged with trading with the public body by selling department merchandise.
Washington dispatch reports Senator Norris attacking tariff schedules with emphasis on calcium carbide duties seen as protecting the power trust. The debate unfolds as domestic carbide firms seek cheaper Canadian power to aid acetylene gas production. James F. Slack dies at 74 in his home at 504 English Street after months of illness. funeral set Friday at First Methodist Protestant church with multiple clergymen officiating. he was born in Randolph County and leaves a large family inclining Hugh and John Slack and five daughters with the surnames Lamb and Slack.
Leo G. Stokowski conductor of the Philadelphia Symphony rebuked a Carnegie Hall audience for hissing Arnold Schoenberg's latest modernistic variations. He said as long as he conducts he will perform the greatest music of the past and present. Critics found the piece discordant and not startling.
Rancieman and several relatives including Mrs. E C Harville of High Point Mrs John Isley of Burlington Mrs Dora White of Boston Mass and Mrs Sarah Pugh of Worthville are listed in a family transfer notice indicating ownership and sale through a Boston seller.
Graf Zeppelin departed Friedrichshafen at 6 49 a m for a 384 hour flight over Spain. The route goes via Switzerland to Marseille then across the Mediterranean to Barcelona. Among the eighteen passengers is Spain's ambassador in Berlin Fernando Hepinosa de Los Monteros.
In San Francisco a two story still used to manufacture alcohol was shut down after fumes betrayed the operation near the U S customs building. Police detained Louis Tosche as part of the enforcement action.
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