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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Jan 20, 1950
Page
2
At Bexar Cattle Mart and Chicago Livestock, cattle and calves show mixed trading with steady to weak tones across classes. Hog, sheep, and goat receipts vary, with strong demand for choice stockers and vealers while lighter grades and odd lots soften in price amid sparse receipts.
Air Secretary Symington announced that the decision to close Mark Air Field in Nome Alaska will be reviewed at high policy levels in the Air Force department. Delegate Bartlett and Governor Gruening announced the decision after meeting with Symington.
Bonn Germany January 19 The West German government decided Thursday to suspend rationing and price controls on gasoline and end fuel restrictions in the western area restoring more normal supplies to motorists and industries overall government action ends persistent curbs as the country shifts energy policy partial revival of private car use expected and impacts on travel and commerce noted at the time
Oklahoma City Police Chief L J Hilbert lost a front tooth while demonstrating self defense to FBI agent D A Bryce and Bryce’s four year old son Johnny The humorous incident ended with a punch that knocked the chief off balance and left his tooth loose.
New York Friday saw a slow trading session with the 60-stock average edging higher. The industrials gained while utilities lagged, with 406 advances and 390 declines. volume around 1.17 million shares. President's tax message delay sparked market conjecture on policy timing and congressional response.
Grains moved higher in brisk trading as wheat showed gains offsetting Wednesday’s losses while corn and oats offered limited insight. Beans rose slightly and lard advanced, with government export policy cited but not deeply swaying activity. Weather in the Western grain belt remained dry and cold with snow cover adding to concerns.
Teague observed Bill Boyd Day as the 65 year old oilman returned home after serving as president of the American Petroleum Institute. A banquet with more than 500 attendees raised funds and honored his retirement with gratitude for his career and friendship.
Cotton futures closed firm with gains as short covering by professionals met limited offerings. Traders awaited CCC price announcements on 1948 loan stocks, which may act as a market floor, while nearby months sold at a bar discount and textiles demand remained soft.
United States bank clearings in 25 major cities rose 5 percent for the week ended Wednesday, with total$14,415,011,000. New York reached $7,574,272,000, up 0.6 percent. 24 other cities totaled $6,840,739,000, up 7.3 percent. Dallas led gains with a 23 percent year over year rise while Minneapolis fell 11.7 percent.
Galveston on January 19 reports spot cotton closing steady. Prices range from good ordinary to strict middling with middling around 31.70 and 31.40 for fair quality. Daily sales total 1,125 bales.
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