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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
Mar 23, 1949
Page
10
New York cotton and wool markets declined amid liquidation and weak demand. Spot cotton fell to 32.50 cents per pound in New Orleans with declines in futures, while wool tops and futures dropped sharply on pessimistic outlooks for wool goods sales.
Frank P. Phillips head of the cotton firm F P Phillips and Columbus civic leader died Tuesday at Custer Hospital after a long illness. He was 76. The Columbus business figure was known for his role in regional textile trades and community affairs.
Chicago March 22 The William Wrigley Jr Company chewing gum maker declared a special dividend of 50 cents a share in addition to the regular monthly payment of 25 cents a share. Both dividends are payable May 2 to holders of record April 20.
The AP reports a rough day for stocks as American Woolen shares fall after Moses Pendleton’s remarks misquoted $11 million and $68 million as sales. Losses hit 6 percent, with the Dow Jones Industrial Average down, and volume up as investors digest the confusion and broader market weakness.
A well dressed woman stormed into the Dallas rent director’s office on Tuesday armed with a rifle. Federal guards disarmed her. the gun was unloaded. She remained seated promising to stay until the director would approve a rent increase for moving into another apartment.
San Antonio March 22 AP The Bexar Livestock Mart shows cattle and calves strong with prices steady to higher in most classes. Slaughter calves and stocker steers command top quotes while canners and cutters stay lower. hogs and sheep also mixed with buyers active on 300 to 700 pound ranges.
Directors of Southwestern Bell Telephone Company met in St. Louis and authorized a 1.25 quarterly dividend on common stock. The company is largely owned by American Telephone & Telegraph, with a few shares needed to qualify directors. S. S. McClure dies at 92 in New York hospital.
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