Demand centers on specialties as light selling trips leaders
Stocks moved mixed with gains in postwar favored steels automotive equipment and other issues while many leaders stayed in negative territory. United Corp saw heavy volume as recapitalization news spurred activity and several steel and chemical stocks posted gains alongside declines in General Motors Studebaker and other majors. Wool tops futures rose to new seasonal highs driven by buying with July at 133.7 and December at 124.6 yet grease wool remained inactive.
MENTIONED IN THIS ARTICLE
New York
United Corp
Hayes Mfg
Willys- Merland
Associated Press
United Corp. Securities
ompson-Starrett
Steel
Bethlehem
American Telephone
Pullman
Budd Mfg
Budd Wheel
Murray Corp
Sparks Withington
York Corp
R-K-O
Youngstown Sheet
Crucible Steel
du Pont
Baltimore & Oho
Eastman Kodak
Chrysler
General Motors
Studebaker
Santa Fe
Great Northern
Allied Chemical
International Harvester
Douglas Aircraft
Johns-Manville
Kennecott
Chicago
Raytheon
Carrier Corp
American Gas
N. J. Zinc
Cities
Boston
Commission House
Markets at a Glance June 29 New York Stock Update
Markets at a glance show mixed stocks with active advances in specialties. Bonds irregular as rails trend lower. cotton steady on mill buying. Chicago wheat firm on futures demand. rye mixed with selective buying. Hogs active outside upper weights with top at 13.75. Cattle fed steers yearlings and heifers steady with top 17.40.
MENTIONED IN THIS ARTICLE
New York
Chicago
Wheat Advances On Flour Buying
Heavy flour buying pushed wheat prices higher as milling demand dominated trading in Chicago on June 29. Southwest weather and labor shortages caused congestion and a temporary shipping embargo to several Texas and Oklahoma points.
MENTIONED IN THIS ARTICLE
Chicago
Southwest
Enid
Okla
Fort Worth
Dallas
Amarillo
Plainview
Hereford
Lubbock
Texas
Kansas City Livestock Trade Mixed with Prices Mixed
Kansas City reports cattle hog and sheep trading with varied bids. Hogs steady with 180-270 lb at about 13.50 to 13.55 dollars, cattle largely steady, calves 8.00 to 15.00, sheep active with spring lambs 14.00 to 14.25. Other regions note hogs 11.90 to 13.75, cattle mostly steady, vealers around 15.50, beef cows up to 9.00, stockers slow in Fort Worth with lighter demand and mixed sheep prices overall.
MENTIONED IN THIS ARTICLE
Kansas City
Chicago Livestock
Chicago
Texas
Fort Worth
Nests of Nazis Hold Out in Cherbourg Skirmishes
Cherbourg France June 29 German holdouts on Cap de la Hague and at Fort Central fight on as American troops tighten control. Refugees stream back while mopping up proceeds. last garrison of about 400 near Maupertus airport surrenders at 6 AM signaling end of Nazi resistance in the northeast cape.
MENTIONED IN THIS ARTICLE
Cherbourg
France
Diehard
Cap de la Hague
Fort Central
Vauville
Branville
Beaumont-Hague
Querqueville
Maupertus
Cape
Drilling Uptrend Reported for April 1944
The Bureau of Mines notes 1,656 wells completed in April 1944 up from 1,355 in April 1943. By end of April there were 3,413 active wells, up from 2,408 a year earlier. First four months total 6,235 completions vs 4,977 in 1943, with new production reaching 879,700 barrels versus 468,900 last year.
MENTIONED IN THIS ARTICLE
Bureau of Mines
Cotton Edges Higher in Narrow Trade Awaiting Price Bill Clarification
New York June 29 cotton moved in a narrow range as traders awaited amended price control bill details. Futures finished 35 to 65 cents per bale higher with mill buying and hedge covering. spot markets reported steady to higher prices across New Orleans and Galveston while average Middling weighed about 21.81 cents per pound across 30 market days.
MENTIONED IN THIS ARTICLE
New York
New Orleans
Navy to Quadruple Elk Hills Oil Output in War Effort
Washington reports a plan to boost Elk Hills naval petroleum reserve production in California to meet Pacific war fuel needs. An intensive drilling program will add about 300 wells to the 234 already producing, with 30 million barrels authorized in 18 months and output rising from 15 000 to 65 000 barrels daily under a Roosevelt approved plan with Standard Oil of California.
MENTIONED IN THIS ARTICLE
Washington
Elk Hills Naval Petroleum Reserve
California
Navy
Standard Oil Co
Secretary of the Navy
Forrestal
Roosevelt
Elk
Allied bombing hits devastate Italian oil capacity
The Mediterranean Allied Air Forces report that by mid June 20 of 22 Italian oil refineries were out of action, Nazi synthetic oil production cut by more than half, while German reserves deplete at a rapid rate. Traffic deaths in the first four months of 1944 reached 7,650, up 15 percent from 1943.
MENTIONED IN THIS ARTICLE
Rome
Mediterranean
Allied Airforce
Eighth Airforce
United Kingdom
Yanks Advance in Italy Pressing Toward Siena Coast
In scorching heat Lt. Gen. Mark W. Clark pushes five miles to the west coast, seizing Castagneto near Livorno and driving toward Monticiano and Siena. German countermeasures include road demolitions and booby traps as 25,000+ Germans are netted in Fifth Army enclosures. French troops gain on inland flank with Montalcino Onticchiello and Pienza captured. Nearby notes report doses of motor mileage up 8 percent in early 1944 and a majority of highway fatalities linked to drinking.
MENTIONED IN THIS ARTICLE
Rome
Mark W. Clark
Castagneto
Livorno
Leghorn
Monticiano
Siena
Florence
Fifth Army
Clark
Stimson
Washington
Pisa
Rimini
German High Command
Montalcino
Onticchiello
Pienza
Babson Sees Booming Postwar Business 1949 Outlook
Babson predicts strong postwar growth in 1950s with 50 percent higher industrial activity than prewar levels, a large rise in consumer sales, and up to 6 million new homes planned. He expects a gradual peacetime conversion, steady employment, and a long optimistic decade ahead despite near-term adjustments.
MENTIONED IN THIS ARTICLE
Babson Park
Mass
U. S
Also Mentioned on This Page
Merrill Lynch
Pierce
Et Nc
Armour & Co
Arch Top
Santa Fe AB
Aviation Corpove
Baldwin Locom
Bendix Aviation
Bethlehem Steel
Braniff Ae Ae
Briggs Mfg
Kennecott Copper
Glenn L Long-Bell Lumber
Gulf Otis Martin
Mid Cent Pet
Montgomery
Ward
Nash Kelvinator
National National Biscuit
North Amer
Paramount
Pan Amer Airways
Penn Railroad
Penny
Phillips
Plymouth On
Pat
Republic “Bree! Od
Mington Rand
St. Joseph
Shell Union Oil
Sa Socony Vacuum
Southern Pacific
Standard Brands
Standard Oil Calif
Standard Oil
Swift & Co
Texas Corps
Tidewa Tex Board Sylph
Union ‘Carbine
United Aircraft
Wilson Co
White Motors
Warner Bros
Western ‘Union
Barney
Pi Wheat High
WFA
Bliss Triumphs
Hal Boyle
THE
NEBBS
Dixie Dugan
Woolworth
Zenith
Willys
Radio-Keith
Int Tel & Tel
UC Cent Motors
Thermoid Co
NEW York Curb
Low Close
Am Cyan
Ark Nat Gas A
el Bond & Sh
Humble Oil
Lone Star Gas
Sia
NEW York Bonds
Arch Top & Santa Fe
Mil & St. Paul
Chi. & Northwestern
Illinois Central
Northern Pac
St. Louis SF
Southern Pac
Western Union
DOW Jones
Galveston
Elk Hills Reserve
Jim
Mum
Toppers & Coats
Dickies
Italy
Babson
By Roger W. Babson
Florida
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