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Newspaper
Syracuse Journal
Location
Syracuse, New York, United States of America
Date
Feb 19, 1938
Page
6
A broad essay prescribes vast modernization across industry transport and living standards. It cites investments in electrics, printing, color film, radio, aviation, glass, textiles, and new cooking devices, urging rapid development and capital to realize improvements in roads, conservation, forestry, water, and urban planning. It warns of immense needs still unmet and the imperative to act.
Stocks moved higher as investors parsed mixed signals from corporate earnings and bond yields. Major blue chips like American Water Works and United States Steel showed gains, while Westinghouse Electric and Union Carbide also nursed modest climbs amid cautious trading.
Market figures from the New York Stock Exchange show mixed activity as trading ends. Investors monitor price shifts across leading stocks, with notable changes in blue-chip issues and sector leaders.
Sun Oil Company shows a rise in income with a dividend per share of 4 dollars on 2,528,280 common shares and an after tax figure of 2.528 million. The 1927 year end balance sheet lists current assets of 857 million and cash of 6.495 million, with current liabilities at 23.665 million.
Boston February report shows fourth annual meeting figures with life insurance in force rising to 1,471,856,000 and assets at 2402, g21,960. Payments to policyholders and beneficiaries totaled 273,008,000, up 525,000 from 1938. From earnings of 10,095,000, directors voted 20,130,000 for policyholder dividends in 1935.
New York market reports show export copper prices steady near high levels after Friday's closes. Domestic copper traded at 101 cents per pound delivered for high volume. export prices held around 9 to 49 cents per pound in regional markets with small variations amid fair demand.
The United States Department of Commerce reports December activity in auto financing showing a sharp drop in total financing for wholesale to dealers and a steep decline in new car financing. Compared with the previous month, financing for used and new cars fell notably, indicating tightened credit conditions in December 1930.
The notice lists fluctuating prices for onions from New York to Texas, with weights in 50 to 180 pound sacks and prices such as 3.25 for top quality onions and 1.0 to 2.0 for poorer lots. It also cites potato varieties Long Island and Green Mountain with crate and sack pricing, and assorted figures for feta, olives, peppers, and squash, reflecting freight and market values across regions. Names of places include New York, West exa and center, and Bermuda red.
A weather chart notes a trough moving east with a southern disturbance, low air pressure near Hudson Bay and Texas, and temperatures rising along the Atlantic Coast while snow or sleet affects the region. The report covers the Middle Atlantic New England provinces and western Canadian areas with varying conditions across the Northwest and Gulf regions.
New York public service commission announced that over 386.9 million in fixed capital was written off and more than 2124.069 million cut as part of unifications in utilities. The report notes the commission favors eliminating holding companies that pyramid securities with no physical property, while allowing rare useful holdings. The action accompanies rate reductions and corporate simplification across utilities.
Liverpool spot cotton opened quiet with receipts of 3 000 bales, including 2 500 American. Prices ranged from good middling at 3.23 to low middling and strict low or lower, with good ordinary in the mix.
The report notes acceptances at various percentage levels for different maturities up to 90 days, with rates around 6 to 7 percent. It mentions time deposits and money on pills and treasuries, and renewals at 1 percent, with several figures indicating unchanged conditions.
An investment banking group sold 55 050 shares of Commercial Credit, owned by Cherer Corporation, to an unnamed buyer. The deal followed a purchase of 50 009 shares at book value, as reported from New York February 19.
Week 9 financing totals show 36 362 000 in new offerings and 25 923 003 in new bonds. A county loan, not new and previously offered to the public, was bought from a Reconstruction Finance Corporation and resold to banks, with bankers distributing the notes.
The Gould-Farmer Company to acquire the Syracuse branch of Janeden & Huwhes Electric. Leo Bicester joins Gould-Farmer as executive and the Syracuse staff of Langdon Huzire becomes part of Gould-Farmer.
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