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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jun 08, 1961
Page
8
New York stocks closed unevenly as autos strengthened while steel shares lagged. The Dow fell 2.93 to 700.86. AP index slipped 1.20 to 251.30 amid 3.98 million shares traded. Losers outpaced gainers 690 to 361.
Two men convicted in Pittsburgh's no work case received 12 year sentences. Court ordered restitution totaling over $11,000 with specific amounts for defendants Cana and Lappe and listed sums to be paid to the city.
AP reports traders eye a seasonal rally as uncertainties shrink. Goodbody & Co and Martin Gilbert of Van Alstyne Noel & Co foresee no major decline and a continued uptrend as the Dow holds above its January 1960 high, signaling further gains ahead.
The Chicago butcher hog market fell by up to 25 cents a hundredweight, topping at 17.75, with about 50 head of mixed No. 1 and 2 grades trading around the peak. Slaughter steers over 1300 lbs declined by about 1.00, lighter weights steady, and vealers and lambs showed mixed results with limited supply on veal. Heifers and bulls fluctuated, while spring slaughter lambs remained steady at 18 to 19 for good and choice grades.
Chicago grain markets showed a swing with July soybeans slipping to 3% past, plus gains in new crop months. Speculators moved into short positions early, then covered later as buying support emerged, helping a partial rally. Corn and oats steadied after early losses. other grains were mixed.
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