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Newspaper
New York Tribune
Location
New York, New York, United States of America
Date
Jun 27, 1922
Page
6
Texas and Pacific Railway reports 1921 net income of 2,740,723 and operating revenue of 35,400,474, with per share value around 5.89 based on 38,750,110 capital stock. Compare to 1920 earnings of 2,981.94 and per share 4.43, noting reduced operating costs and higher income after charges and interest requirements.
June 2 London market reports a merger between the Winchester Company and Simmons Hardware Company into a holding entity named Winchester-Simmons Company. The Winchester group will manage manufacturing while Simmons will handle distribution with warehouses in multiple cities. Joint operations planned under a common manager amid mixed trading activity.
Increasingly favorable crop reports and growing south conditions spurred a further cotton market decline. October futures closed at 21.08 cents after an earlier 30 to 47 point slide, with mixed action in various staple markets and strong nearby selling pressure noted in the session.
Rains and cooler weather limited crop damage and pressured wheat markets. July futures slipped to 1.11 and September to 1.18, with corn easing slightly and provisions steady. Market sentiment weighed by political jitters, limited buying, and hopeful for a crop recovery, while receipts and weather dampened demand.
Grain prices show little change with No 2 yellow corn near 59 per bushel and wheat around 98. The text notes previous prices, regional offerings, and the shifting tone of markets as traders watch futures. Strong entities include New York market references and Chicago grain activity, with mentions of harvest timing and price trends.
The Bureau of Foreign and Domestic Commerce reports a drop in anthracite and coal exports for May 1922. Anthracite exports fell to 60,860 tons from 434,308 tons in May 1921, with vitamin export figures and fake export data also noted as lower than prior periods.
London metal markets report mixed spot and futures prices across electrolytic tin lead zinc and copper quotes show electrolytic tin spot 152 18s lead futures 23 10s 27 10s and copper futures at 422 pounds while spot copper near 41 18s and futures 71 10 percent change noted for several contracts reflecting modest activity in the London market.
An indoor relocation of the curb exchange was completed a year ago today. The brief note cites multiple associated items and records noting the change and ongoing activity surrounding the curb exchange.
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