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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Dec 07, 1923
Page
27
The market showed heaviness as traders weighed the President's insistence on collecting foreign debts. London sight drafts slipped to 4.38 4.44, Frances fell 4 points to 5.04, and 1 to 4.45 cents. Danish kroner held firm while Norwegian and Swedish bills eased 5 to 7 points. Guilders were flat.
Special to The Washington Post reports ongoing talks between New York Central and Big Four officials on renewing railroad contracts with 30 day notice. Leaders of conductors and trainmen attend, seeking wage terms while statements remain guarded. Other stock moves include gains in Chandler Motors and Mack Trucks. President Coolidge remarks boost market sentiment. New York Chamber endorses income tax reductions.
A report urges tax reductions as national income taxes rise to fund government services. It notes taxes now take a sixth of national income and argues senators and representatives must pass the Mellon recommendations. The report passed without dissent.
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