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Newspaper
Anderson Herald
Location
Anderson, Indiana, United States of America
Date
Jan 22, 1958
Page
11
New York stocks closed mixed as 1,144 issues traded with 548 up and 352 down. The Associated Press average slipped 40 cents to 160.60 as industrials, rails, and utilities fell. New highs included some tobacco and food stocks showing late strength.
Hogs gain 25 to 50 cents with volume 2,160,000 shares down from 2,310,000 as market closes. News breaks that the Philadelphia Federal Reserve Bank discount rate was cut to 2.34 percent from 3 percent, a move Wall Street had expected, though not fully priced in. At Stewart Air Force Base in New York, Ruth Nichols, aviation pioneer, flies as passenger amid mixed volume of 540,000,000 shares and 51,000 feet altitude, figures rivaling prior records.
Miss Ruth Nichols, 56, a lieutenant colonel in the Civil Air Patrol, set a high altitude record of about 48,000 feet during a routine orientation flight aboard a U.S. Air Force TF102. She previously flew in 1919 and led the CAP activities during the flight from Suffolk County Airport on Long Island. The event occurred amid a broader report on military aviation caps, cattle market prices, and economic notes from New York and Anderson Federal.
The 2,000,000th Korean veteran enrolled under the Korean GI Bill, VA announced. Indiana records show over 39,000 Korean veterans in training. Most veterans pursue college courses, with many in full time study, while the identiy of the 2,000,000th is unknown.
New York and long term U S government bonds posted gains up to a quarter point ending a five day decline. Trading was moderately active with corporates up and a 1957 58 high on the AP index. An Angola Indiana union official was jailed after a nine month term related to damaging equipment and park road repairs.
Indiana Purchasing Director Clarence T. Drayer paid 140204 for 83 new state vehicles all with eight cylinders and automatics bought at low bids Hatfield Ford Indianapolis 1626.42 each for 40 state police interceptor cars 1626.42 for 22 four door sedans 1589.42 for six two door sedans Randolph County Board Sales 1823.45 each for five four door nine passenger station wagons Jones Maley Indianapolis Plymouth dealers 1840 each for 10 four door six passenger station wagons vehicles replaced will be sold at auction Budapest street repairs cost more than 100 million florints about 33 million dollars after October uprising battles
Multiple auction notices list real estate and farm equipment sales set for Saturday January 25 and February 12. Items include hogs cattle dairy equipment grain straw shop tools household goods and a 135 Ford located near Noblesville Elwood Alexandria Anderson and other towns. Names include Frank Swan Russell Eubanks Elwood Procter Hargis Watson and Ed Martin with various auctioneers.
Hog prices rose Tuesday with most advances around 50 cents. Top bid reached 21 dollars for 210 lb No 1 hogs as receipts, about 7,500 head, were limited by snow. No 1 and 2 grades in 190-225 lb range sold near 20.50 to 20.65, lighter weights around 19.73 to 20.25, with heavier hogs 18 and up. Cattle futures showed slaughter steers 50 cents higher to 50 cents lower, prime loads at 30.00 to 31.50, high choices at 29 to 29.50, and standard averages around 20 to 25 dollars.
Chicago markets show corn futures sliding to new lows amid weak demand and hedging losses. Livestock prices move mixed as calves and steers sell higher while hogs and poultry show modest gains or declines. overall grain softness drives broader selling pressure across the sector.
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