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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Jun 04, 1959
Page
5
New York UPI notes the Dow Jones industrial average uses a divisor set at 3,964 to convert the total closing prices of 30 stocks into the daily index. It explains the method dates to 1897, the logic behind the divisor, and how splits and dividends keep long term continuity.
Market moves show mixed gains and losses across sectors with leaders like Nat Myers Motorola Zenith Lorillard and Newmont Mining rising around 2 percent in mining and electronics while Union Carbide drops sharply. Rails and utilities lag as activity centers on Minute Mald, which hits a new high, amid varied shifts in stocks.
Wall Street chatter suggests a corrective move may be starting with rallies at support levels. The heavily leveraged railroad industry is seen riding the 1939 recovery, with the International Statistical Bureau noting broad improvement across markets. Smith-Douglass earnings for the year ending July 31 are projected near 2.25 a share, up from 1.46. Tex us City chemical plant profits are expected to lift fiscal 1960 outlook, and steady accumulation at Swift & Co. is noted.
Market note shows poultry prices including squabs hens and capons with heavy cuts listed at 28 cents per pound. Dressed poultry values appear from a daily price listing, reflecting local supply and consumer options.
Readable market quotations from Southern California traders show prices and activity for poultry, metals, oil, and various stocks. Names include Sutro Co, Sperry Rand, Blanchard, American Metal Climax, American Telephone, General Motors, Ford, Chrysler, and Kaiser Industries among others with figures and ready-to-cook tom turkeys and poultry listed alongside industrial and financial equities.
A fragmented list of U.S. and international places paired with odd phrases and stray words appears to describe temperatures and weather notes. Named cities include Albuquerque Bakersfield Boston Chicago Detroit Fresno Los Angeles New York Seattle Salt Lake City San Diego Spokane Stockton and more, interwoven with garbled terms and nonstandard annotations.
Soviet Fleet reports Moscow will build a 70 mile circle freeway around the city. The project features an eight lane periphery highway with no traffic lights and four lanes of traffic in each direction.
UPI notes fair conditions across California with coastal fog and drizzle in some areas. Highs ranged from 80s to 90s in interior sections, peaking at 102 in Thermal and Needles, while San Francisco recorded around 61 and Los Angeles about 62, with Santa Rosa near 42.
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