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Newspaper
Kingsport Times
Location
Kingsport, Tennessee, United States of America
Date
Dec 20, 1925
Page
31
The stores expect lower costs and saving of time and salaries by mass buying, with access to export services often beyond a single store. Achieving these benefits requires each store to cooperate with the syndicate.
Babson Park mass special writer notes Harvey Firestone’s Liberia project will require vast funding and attracts attention. He points to current high rubber costs from non American sources and contrasts with 1921 prices under 20 cents a pound, predicting lagged goods prices and a possible broad advance.
Commercial credits overall remain healthy with merchandising firms posting notably strong showing. The key requirement is maintaining liquidity in merchandise credits to sustain this performance.
Receipts of sheep and lambs year to date trail last year as heavy marketing periods for range animals ease. Cold storage holdings run slightly above 1924 levels but well below five year average.
Stock rails oil and coppers resist general pressure and hint that the next movement may be led by these groups, with rails possibly taking the lead.
Secretary James J. Davis reports a record of achievement for the Labor Department with greater employment and higher pay in the past fiscal year. He notes improved benefits like group insurance and annuities mainly for wage earners but warns white collar workers pose different welfare challenges. The forecast anticipates more gains for white collar workers in 1925 and notes newspaper ad volumes rising in late 1924. Pay rolls are advised to resist unnecessary wage increases. Raw material production is expected to exceed early 1925 levels by about 20 percent in the first quarter of 1926.
Wall Street faced uneven trading as investors adjusted speculative accounts. American Can led gains but most of the industrial list sagged with declines in General Motors and U S Steel while Case Threshing Machinery and Passum rose on dividends and a Jello deal.
New York stockyards show cattle receipts 1,330 with slow trades. Steers 7.00 to 10.35, bulls 3.00 to 6.25, cows 2.00 to 5.25. Calves 1,350 steady. veal 8.00 to 16.00, grassers 4.50 to 5.00. Sheep and lambs 2,290 steady. lambs 11.00 to 17.00. Hogs 6,250 steady. weights light to medium 12.00 to 12.50, pigs 12.25 to 12.75, heavies 11.75 to 12.25.
A jumble of listed stocks shows last prices for Allied Chemical American Bosch Am Can Am Locomotive Am Smelt American Sugar Am Tel Am Tobacco Anaconda Atch Santa Fe Atlanta Bir Atl Baldwin Locomotive B&O Bethlehem Steel California Petroleum Central Leather Chesapeake Chic M&P Chrysler Dodge General Electric General Motors Gulf States Steel Inter Harvester Kelly Springfield Kennecott Copper Mawell Mo Pac Montgomery Ward New York Central N Y N H Hartford Norfolk Western North American Northern Pacific Pacific Clips and others with varied figures, reflecting a closing roundup of shares across multiple industries. Investors scanned mixed results as trades closed with diverse gains and losses across major names and utilities.
Wall Street briefs report Gimbel Brothers plans to exchange 30 000 preferred shares and 22 500 common shares of its stock for all outstanding capital stock of Caufman and Bear Company of Pittsburgh, where Gimbel has a controlling interest. Commercial and financial chronic reports show bank clearings this week at 11 436 932 950, up 6.20 percent from the prior year. New York City clearings rise 1.10 percent.
The Mathewson Alaki Company will begin quantity production of synthetic ammonia soon after January 1 using a by product that was previously unprofitable. Renovations at the Saltville Virginia plant aim to yield savings exceeding one million dollars in 1926.
The Borden company offers common stockholders rights to subscribe for 4,114,500 shares, equivalent to 82,290 shares of $50 par value, increasing total outstanding to $31,544,800. Record holders as of December 30 may subscribe up to 5 percent of their holdings in the new issue at $75 per share, with the offer expiring January 15, 1926.
In New York trading on December 19 AP reports a firm tone in bonds despite no extension of recent loans. Polish and Mexican issues rose on government advisor news and foreign demand while rail liens saw gains and several U S carriers fell. New Haven bonds led with 1 to 3 point gains as other majors retreated.
Oil and sugar company bonds continued to attract buyers as Sinclair sixes and Camaguey sevenes led the group. Skelly and Pan American issues posted fractional declines.
Surprise drop in Rosario Argentina wheat prices triggers late selling pressure in Chicago. Wheat closes heavy with December down to 1.69 1/4 and May to 1.64, corn falls 1 to 13 8, oats down 1 4 to 1 2, provisions unchanged to 12 cents.
New York traders report quiet activity on a spot coffee market with prices showing mixed futures. Santos commodity quotes indicate minor movements with limited demand in early trading session.
Weekly financial notes show rail stocks rally on strong earnings and merger prospects while industrials stay weak. French francs rebound after Paul Doumer became finance minister, with oversubscribed stock offerings signaling year end demand. Commodity futures, including wheat and cotton, moved narrowly as market rates held steady.
New York December 19 cottonseed oil market moves little as crude oil and lard firmness restrict offerings. Closing quotes show small shifts with prime crude at 8.62 1 2 bid and futures steady to slight changes. sales reach 3,400 barrels with December at 10.30 and May at 10.36, among others.
Rates notice states two cents per word for insertion with a cash minimum charge of 30 cents.
Classified ad offers office work for a woman at Kingsport Foundry with no experience required. Mentions earning money at home by clipping newspapers and addressing postal cards, asks applicants to write and enclose a stamp to Zeno Service in Chicago with desk code P389.
A classified note offers cash for used tires and an eight hour vulcanizing service at Hayes Service Station with all work guaranteed. The ad is dated 12 16 tf c.
A long bond table notes offerings from Argentina 6s 1958 through Austrian and Belgian issues, with numerous German, Japanese, UK, Polish, Brazilian, Chilean, and U.S. corporate issues. Key issuers include Am. Tobacco, Am. Smelting, Bethlehem Steel, Goodyear, Union Pacific, Southern Pacific, and Atlas. Prices range around 68 to 142 with many around par 100.
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