Market dips after GM increase stirs Wall Street
Stocks eased amid a GM price uptick as overall volume fell. The market narrowed with 1,158 issues advancing and 517 declining while GM slid to about 1 percent.
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Newspaper
Austin American
Location
Austin, Texas, United States of America
Date
May 25, 1950
Page
15
Stocks eased amid a GM price uptick as overall volume fell. The market narrowed with 1,158 issues advancing and 517 declining while GM slid to about 1 percent.
Mrs Hattie Cooke a 36 year old mother of six has been jailed 87 days under Vermont s alleged jail statute for failing to pay a 1966 75 judgment in an auto damage suit Her husband Stanley cared for the children ages eight to 18 at the Cooke home in Georgia The 142 year old statute allows indefinite confinement for defendants in damage suits based on willful or malicious act or neglect until judgment is paid.
The May 24 AP market report from San Antonio shows cattle and hog prices largely steady with slaughter cattle and steer groups near last levels. Canner and cutter lots remain light, feeders and yearlings mixed, and lambs steady to higher with strong demand for stocker calves and store cattle.
Archbishop Cyril F. Garbett of York warned at a church conference that religious freedom in the Soviet Union may exceed that in many satellite nations, while noting ongoing persecution in other Communist states. He urged the United Nations to condemn violations of religious freedom.
In CLIMAX Minnesota on May 24 a bottle tossed by three North Dakota Agricultural College students into the Red River eight years ago was found 70 miles from its start. Bernard Quirk located the bottle and signed it before pushing it toward Canada.
Cotton futures held firm Wednesday as aggressive trade buying and commission house demand pushed prices to seasonal highs before a partial pullback. July and October deliveries saw strong activity with much demand tied to business, financing, and hedging. Repossession figures and stocks showed ongoing pressure in government holdings amid steady buying.
The Galveston spot cotton market shows prices around mid 20s with firming trends, while New Orleans futures edge to seasonal highs on May 24. Closing levels vary, with July futures near 23.07 and May around 34.60 per bale, as traders fix prices for mills and cover shorts.
Grain traders report rising domestic soybeans driven by strong demand and inflation fears. Cash grain activity ongoing in Fort Worth and Chicago with mixed prices for wheat, corn, oats, and barley as buyers seek soybeans to replace or supplement corn.
A Navy patrol boat rescued 17 uninjured survivors of a flying boat crash at Maloelap Atoll in the Marshall Islands. The craft sank in 100 feet of water after striking an object on takeoff, with mail and cargo lost. The 17 crewmen and six passengers, including a woman and a baby, were bound for Kwajalein. Pilot Ensign William M. Shaver reported nine minutes afloat before sinking. Crew names and their home towns are listed.
TIPTON England May 24 A nine year old boy led police to a lake and canal dump site ending a frantic search for 100 missing sodium cyanide balls enough to kill 10 000 people The balls were stolen from a factory The boy said I threw the pigeons eyes I found Police warned of further danger with loudspeaker notices in two counties A chemist warned a child who licks a ball could die immediately
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