Stock Surge as LBJ Declaration Triggers Rally
New York stock market rose on high first hour volume after President Johnson signaled de escalation of Vietnam conflict and said he would not seek re election. Dow Jones industrial average climbed to 857.84 with major blue chips GM Westinghouse Kodak and U S Gypsum posting gains as traders cited hopes for peace.
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New York
APJ
New York Stock Exchange
Johnson
New Lighting Fixtures Boost Demand for Permanent Home Installations
Northrop’s crash locator system spurs interest in durable incandescent lighting as homes add more fixtures. Industry notes average new houses now carry 14 permanent lights, up from a decade ago. Designers and homeowners seek walnut trim styles and practical, efficient lighting solutions for living spaces amid rising demand.
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New York
UPI
Northrop Carp
Samuel Beber
Air King Lighting Corp
Wall Street Chatter on Retail Shifts and Market Tone
Wall Street chatter points to distributors moving HQ uptown and pushing direct consumer sales as the market weakens. Firms note a shifting retail landscape with higher prices and rising home prospects, while investors eye a possible spring rally amid oversold conditions and large short positions.
Ceylon Ports Struck Over Fifth Column Dispute
Colombo AP report that Ceylon ports were tied up by a 28 000 dock workers strike over alleged fifth column influence. The walkout followed conflict about party influence in the Ceylon Mercantile Union. Gov authority moved to dismiss strikers but granted 19 days notice.
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Colombo
Ceylon
Ceylon Mercantile Union
Government
Walkout Postponement At Western Greyhound
SAN FRANCISCO UPI A strike by Western Greyhound Co union drivers and dispatchers prompts postponement of a 17 000 mile nightly strike and affects about 100 000 passengers daily as talks with the Amalga mated Transit Union resume today Federal mediator Jerry Finley says no lockout is implied yet but a breakdown could trigger action Western Greyhound refuses to extend the contract beyond its end with wage and fringe-benefit disputes at the center
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Garbage Strike Enters 14th Day in Martinez California
A Teamsters Union strike against two sanitation companies extended into the fourteenth day, halting most Contra Costa County garbage collection. Union reps met a federal mediator in San Francisco amid deadlocked negotiations over a driver’s wage increase of 6.50 dollars per day for three years.
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Lucky Buys Store Chain in Midwest
Lucky Staves buys Eagle Staves complex for 42 million in a deal approved by shareholders. Board names Robert Mergulles of Davenhort as vice president of Eagle Fonts. Lucky operates 84 supermarkets 40 drug stores and two bakeries across Illinois Iowa and Wisconsin. An 8 percent stock dividend was declared payable July 22 to shareholders of record June 7, alongside the regular quarterly dividend of 40 cents per share.
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Fast Turnover On Stocks Not Good For Widow
A widow asks if rapid stock turnover yields income. The adviser warns it’s risky and often not suitable for steady income, explains growth vs income stocks, and suggests consulting a broker. It also answers questions about par value and bank brokerage fees with practical guidance.
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