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This newspaper page contains 11 articles. Subscribers can read the full text of each article.
Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Jun 02, 1959
Page
2
A nationwide survey of sales executives shows industrial buyers remain dominant but signs emerge of a shift. Price remains the top obstacle to closing deals, with availability and delivery notable headaches. Some sectors report a softer seller’s mood, others keep a buyers’ market, yet overall demand holds and discounts persist in many cases.
SACRAMENTO UP I reports Senate Public Utilities Committee killed a bill by Sen John Holmdahl Oakland. It would bar utilities from claiming credits they do not pay and require use of federal law benefits. Holmdahl said at least 100 million dollars a year of consumer money was involved. The measure was sent to interim study for at least two years by Sen John Thompson San Jose.
A damaged OCR ship report lists numerous vessels and ports including Antwerp Vancouver Los Angeles Buenos Aires and Papeete with scattered dates and names such as Farland Wihinapa and Gen Edwin D Patriex. The fragmentary text is hard to interpret but indicates a busy maritime routing summary.
Madison Wisconsin based Lee Newspapers announced the purchase of a group of Montana papers from the Anaconda Company. Don Anderson, publisher of the Madison State Journal, was named president of Lee News.
New York markets extended Monday's decline with light activity. Fractional gains in a few names contrasted with losses in Motorola Zenith Raytheon Allied Chemical DuPont and Westinghouse Electric. Upsides appeared for Polyroid Libbey Owens Ford and Admirall Corp amid a cautious session.
The piece notes an upward trend in the stock market despite possible shakeouts. Analysts from Reynolds & Co and Javentrex Research Group foresee continued recovery, urging prudence and focus on individual stocks amid seasonal upside and potential S&P trends.
New York experts say the Treasury will struggle to sell long term bonds beyond five years due to high interest demands. They note refunding needs, bond maturities totaling 23.5 billion, and competition from business for funds. A recession could lower rates, but none is expected, while holders are not captive to Treasury issues and may reinvest elsewhere.
New York reports a surge in aerosol products across categories. Toothpaste sales lead with 30 million units last year while chocolate syrup, cosmetics and vitamins rapidly enter spray form. Industry leaders predict toothpaste share grows, vitamin sprays may reach half the vitamin market, and maple syrup plus coffee sprays loom on the horizon.
California weather varied across the state with low clouds along the coast and clearing later. North of Eureka drizzle and near 100 degrees in central desert areas, cooling to mid 40s coastal valleys. Previous days showed small temperature changes and mostly fair conditions overall.
GM announced a higher maximum award for the Suggestion Plan. President Gordon said new payments will apply to ideas reviewed after May 1. Since the plan became company wide 17 years ago, more than three million ideas have been submitted, with over 500,000 adopted and awards exceeding 28 million dollars. The plan paid over 3 million annually in each of the past four years, and in Q1 1959 more than one million was awarded. The maximum award rose from 1000 to 2500 dollars on January 1, 1951.
A total of 1,026 ships passed through the Panama Canal last month, setting a new monthly traffic record and nearly equaling the canal’s first three years’ average. The figure is six more than the previous record, set in March.
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