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Newspaper
Anderson Herald
Location
Anderson, Indiana, United States of America
Date
Jul 18, 1958
Page
9
In Indianapolis and southern Indiana markets fryers and caponettes show varied pricing. Eggs list multiple sizes with large and medium ranges, reflecting regional bulletin classifieds. Prices cited include 18 to 20 for fryers, 30 to 35 for large eggs, and 22 to 24 for small.
The stock market surged to a new high for 1958 as steels led a broad rally. Across 1,172 issues traded on the New York Stock Exchange, 617 rose while 350 declined, with the Associated Press average rising to 178.00 and the industrials and rails posting gains. Volume totaled 3,180,000 shares. In commodities, high grades of steers topped $27.25 and hog markets firmed, while cotton textile markets showed moderate activity with print cloths and sheetings moving at current bid levels. Oil and metals sectors saw mixed movements with some gold mining stocks down. The overall tone reflected cautious optimism amid Middle East tensions and a potential boost to defense spending.
A brisk trading session saw corn oats and soy trading near season highs while many grains climbed. Prices rose across equities and commodities with several contracts hitting new peaks and major stocks such as General Motors Ford and Standard Oil showing gains amid the broad market momentum in Washington.
Prices listed for calves bulls cows and sows range from 18.50 to 27.00 with weights noted. Senate Finance Committee votes to extend tariff cuts authority for three years but imposes restrictions. Uncertainty remains on final action timing as speeches continue and support shifts.
The House passed a broad states rights measure challenging federal anti subversive laws and reviving state anti sedition provisions. The bill expands the scope of state powers, aiming to prevent federal acts from pre empting state law unless explicitly stated. It was sent to the Senate by a 241 to 155 vote, with leaders predicting possible veto considerations and Senate action uncertain.
Several real estate and household goods auctions listed with dates from July 18 to August 2. Notable sellers include William L. Peck executors Ada Cottrell and Ruth J. Kahrich, with multiple properties at 418 Howard St Fortville 2310 West 29th St and 735 W, and sellers Chas Lawler and Elbert H. Wheichel as auctioneers.
U S government bonds ended a quiet session narrowly mixed with a downward bias as investment grade corporate issues and foreign dollar bonds weakened. Rails and utilities also fell while Industrials inched up. Bond volume rose on the New York Stock Exchange to 5 730 000 from 5 540 000. Veil Pierce, Indiana farmer tour group president of Mooreland Grain Co, died in Leningrad July 4. His body arrived home in Mooreland as funeral plans were announced for Friday.
Washington officials rehearse economic steps to counter inflation if a new Korea-like war shocks the U.S. economy. The plan covers wages and prices with no current move toward mandates, while deficits and possible higher taxes could challenge a return to balance by 1961.
The People s Marketplace outlines two line minimum rates and per line charges for one day three day one week and one month ads. A 20 percent cash discount is offered and rates cover both Herald and Bulletin. Insertion deadlines are 4 am for Bulletin and 3 pm for Herald. Phone numbers listed.
CAPE CANAVERAL Fla UPD A Jupiter missile nose cone was recovered in the Atlantic after a test at 4 05 am est The Navy found the cone floating shortly after the launch The Army called the recovery a solution to warhead protection and noted a prior May 18 test Also observed by Dr Wernher von Braun in Huntsville The Jupiter 2 booster linked to the first U S satellite in orbit was mentioned as related to the program Typhoon Winnie killed 16 in Formosa and left 10 000 homeless with Haulien the hardest hit area and 1 962 homes destroyed 4 841 damaged. 172 injured
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