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Newspaper
Kingsport Times
Location
Kingsport, Tennessee, United States of America
Date
Dec 31, 1925
Page
11
Weekly forecaster P F B analyzes railroad consolidation chances under ICC plans and voluntary mergers. It covers hog and corn futures, suburban department stores, powdered coal as fuel, cheese prices near 37 percent higher, denatured alcohol demand, plus Chicago hog and cattle receipts with price ranges and trends.
Closing prices on New York stocks show cotton ginnings in 1925 at 490000 bales versus 355929 in 1924 with Tennessee near the bottom. Citrus fruit and vegetables movements for November and the season end are down from last year, while banking indicators show savings up 9.3% from last month and 11% year over year. Building permits fall 25% from October but rise 93% year over year, and naval stores see seasonal declines in spirits of turpentine and resin.
New York markets will be closed Saturday January 2 for a three day recess until Monday. The New York Stock Exchange the New York Curb Market and the Consolidated Stock Exchange will remain open Saturday after observing the New Year holiday.
Chicago wheat prices moved upward today after an unsettled opening. Opening bids ranged from 1 1 4 to 1 3 4 cents higher, with corn opening steady to 3 4 cents lower and oats trading 3 8 cents down to 1 4 cents up. The provision market showed weakness in step with hog values.
Chicago poultry prices on December 31 list alive fowls at .25 to .30, springs .31, turkeys .30, roosters .17, ducks .25 to .30, geese .20 to .22 per unit according to AP.
Potatoes trading slow in Chicago on December 31 with a weak market. Wisconsin sacked round whites range 4.00 to 4.25 dollars, few fancy shades higher, Idaho sacks russets at 4.25 dollars.
Chicago wheat values fell in the last hour as traders shifted from buyers to sellers. The market closed unsettled 3 to 8 cents lower on the new style, while corn finished 1 1-8 to 3-4 cents higher.
Upward stock movement in New York brought a strong close to a bullish year on the Exchange. Standard rails and industrials led gains amid broad demand for these issues. Chrysler, Woolworth, Sears Roebuck and many others rose several points as Oils, steels, utilities and motors showed solid strength. Volume approached two million shares.
Opening stock session shows firm tone with early gains for American Tobacco Chrysler Radio Corporation. Mathieson Alkali hits 107, a yearly high while National Biscuit Chrysler National Tea Sears Roebuck Woolworth New York Canners rise. Tax-sales weak. Chile active on merger rumors. sterling and francs steady, rest nominal.
Foreign exchange irregular. Quotations in cents for major currencies include Great Britain at 4.84 3-4, cables 4.85 3-16, France demand 3.74, cables 3.74 1-2, Italy demand 4.03 1-22, cables 4.04, and demands for Belgium 4.53 Germany 23.80 Holland 40.18 Norway 20.30 Sweden 26.81 Denmark 24.72 Switzerland 19.34 Spain 14.12 Greece 1.30 Poland 11.25 Czechoslovakia 2.96 Jugoslavia 1.77 1-4 Austria 14 Rumania 46 1-4 Argentina 41.37 Brazil 14.75 Tokyo 438 3-8 Shanghai 77 1-2 Montreal 99 29-32.
Live poultry prices from New York on December 31 show irregular demand. Chickens by freight 29 to 32 cents per pound, by express 30 to 34. broilers by freight 45. fowls by express 30 to 38. ducks by freight 32 to 34. geese by freight 26 to 28. Dressed poultry firm with fresh turkeys: western spring 43 to 54, southern 43 to 56, southwestern 43 to 55.
Wheat led with No 1 hard at 1.85 to 1.87 1 2, No 2 hard 1.85 3 8. Corn ranged No 4 mixed 75 to 76, No 3 yellow 76 1 2 to 79 1 2. Oats No 2 white 43 to 44 1 2, No 3 white 43 to 44. Rye none, barley 60 to 75, timothy seed 7.25 to 7.50, clover seed 27.00 to 30.50, lard 14.62, ribs 16.00, bellies 15.87.
The Atlanta Federal Reserve reports broad improvement across the sixth district with retail and wholesale trade up from 1924. Cotton production is estimated at 15,603,000 bales nationally, about 2 million more than last year, while ginnings reach 5,307,980 bales. Building is steady, deposits rise, and debits exceed last year by over 18 percent, though some districts face rail disruptions and price pressures.
New York brief records bar silver at 68 1 2 per ounce and Mexican dollars at 52 1 2, reflecting end of year trading.
Butter prices hold steady in Chicago market with no change by year end. Eggs drop to 38 cents for firsts as traders close holiday influenced dealings.
New York December 31 AP reports butter steady with creamery extras at 48 to 48 1 2 cents, firsts 45 to 47 1 2 cents. Fresh gathered eggs unsettled but topped by extra firsts at 43 1 2 to 44 1 2 cents and firsts 41 1 2 to 42 1 2 cents. Cheese prices firm amid steady market signals.
New York sugar prices end the day unchanged on December 31 with raw sugar between 4.18 and 4.21 and refined also unchanged amid steady trading conditions.
ST LOUIS CASH WHEAT No 2 red 1.91 to 1.94 No 1 hard 1.84. Corn No 3 mixed 77, No 4 white 74 1 2, No 5 yellow 76 1 2 to 78. Oats N 2 white 44 3 4 to 45 1 2, No 3 white 44 1 2. Futures wheat December 1.85 1 2 asked May 1.78 3 4 asked July 1.51 1 2 bid Corn December 78 nominal May 85 July 87 bid.
New York call money figures for December 31 show the firm market with the ruling rate at 6 percent. Closing bid and current offerings sit around 6, with loan activity including 6 for calls and 4 1/2 for acceptances. Time loans remain firm, with 60 to 90 day terms at 4 7/8 to 5 percent and 4 to 6 months at 4 7/8 to 5. Prime mercantile paper trades 4 1/4 to 4 1/2 percent.
The Kingsport Times invites advertisers to let it handle initial investigations and return tangible materials. Contact phone 140 for insertion paid cash minimum charge 30 cents. Two cents per word.
An accredited school invites enrollment for a thorough course in bookkeeping Gregg shorthand touch typewriting English spelling and more. J T Hamrick, president, coordinates sessions announced December 20, 1971.
Several small dwelling houses on the Federal Dye plant property offered for sale. Homes must be moved at once. See S. W. Sharrett at Holston Coal Company for details.
In New York on December 31 cotton futures closed with gains of 9 to 25 points. January opened at 19.90 to 19.96, March 19.52, May 19.25 to 19.28, July 18.86 to 18.87, and October 18.22 to 18.27 as the market ended the year with firmer prices.
All yearly bank clearings in New York shattered previous totals as 1925 finished with 283,619,244,635 in clearings, surpassing the prior year’s 249,868,181,338. The report notes a strong rise in total activity and market participation for the year.
New York December 31 AP U S government bonds closed with Liberty 3 1 2 at 99 19 firsts 4 1 4s at 101 23 seconds 4 1 4s at 100 21 third 4 1 4s at 100 26 fourth 4 1 4s at 101 30 treasury 4s at 102 29 and treasury 4 1 4s at 106 14.
General Tire and Rubber Company released its 1925 financial statement from Akron Ohio showing $44 earnings per $50 common share after costs taxes and preferred stock dividends. 1925 sales reached 18.7 million with net profits of 1.843 million and a turnover of 212 times total assets. Gross business rose 60 percent from 1924 and the firm boosted surplus while paying 14 percent on common stock and 7 percent on some stock.
Richmond’s violent death toll for 1925 topped 150, with auto accidents leading at 37 deaths. Murders reached 31, surpassing 1924’s 17, while personal crises totaled 31 and drownings numbered 17 according to unofficial year-end tabulations.
Plymouth Vermont Dec 31 AP Colonel John Coolidge father of the president was able to sit up for a time today and to transact a little business, his physician T W Cram of Bridgewater reported. He had been bed ridden for several days since losing the use of his lower limbs.
The 1925 tax books for districts 10 11 12 14 15 of Sullivan County are at Room 5 City Hall Building Kingsport. Parties may pay any time. Penalty starts after March 1. Pay before March 1 to avoid penalty. 12-24-51 Thu-c.
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