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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
Jun 11, 1965
Page
16
Unclear report questions whether continued tax cuts will benefit NYSE trading volumes as market prices wobble amid policy debate. Executives hint at mixed effects on liquidity and investor sentiment, with analysts urging clarity on future incentives.
Washington reports an economist banker Ford Petersen warns against habitual tax cuts. He argues that past reductions boosted prosperity but warns they could prolong an unsustainable growth rate. President Johnson’s advisers note rising prices amid expansionary policy and calls for restraint.
Wall Street chatter from Wall Street Journal style notes a possible rebound from an oversold market, with traditional summer rally expected. Bache & Co. and Hemnblower & Weeks-Hemphill sources cite good values and selective purchases while Tessel, Paturick Inc. expects a few weeks of hacking and filling before a broader advance.
Over The Counter notes Newlan D. Ziner of E. F. Mut ion & Co Inc states investor confidence is severely impaired and will require a rally on heavy volume over several hours to partially restore it.
Fremont resident Gary Wayne Eichler 11 died Wednesday. Funeral services scheduled Tuesday in Braymer Missouri. He lived in the area for two years and played for a Fremont Little League team. He is survived by his parents Robert and family and two brothers Kenneth and Donald. Friends may call 7 to 9 p.m. today at Fremont Chapel of the Roses.
Washington and May rainfall lifted Great Plains prospects for the 1965 winter wheat crop by about 4 percent versus the May forecast, according to USDA Crop Reporting Board. Spring wheat was set at 266 million bushels, while orange production and fruit output showed regional gains and some declines across apples and cherries. Weather aided farm work elsewhere, with hay and pastures improving in northern states despite drier Atlantic and Gulf coasts regions.
New York traders watch the market drop as they weigh how long the downturn will last. Analysts say consumer and business psychology, corporate plans, and the balance of payments influence growth prospects, with executives optimistic about continued expansion despite jitters on Wall Street.
UPI reports dairy price to retailers with egg carton pricing by size and grade. Large cartons range 35 to 41 cents per dozen for S or FSMNS-Large, while sizes A and AA show 24 to 40 cent bandings, with medium and small grades cited for Nulaid farmers and various A and AA listings.
New York AP reports a one day market rebound from four straight losses with the Dow up 4.36 to 880.85 at noon as investors trimmed gains. Industrials led a broad rise across steels, motors, building materials and aerospace while chemicals and airlines were mixed. IBM joined a joint venture buzz and Procter and Gamble fell on heavy volume.
Bertram A. Scherer 48 of 15227 Farnsworth St San Leandro died yesterday at Kaiser Hospital Oakland. A Illinois native and 1 years resident, he worked as a clerk for Standard Register and belonged to the National Association of Letter Carriers. Husband of Velma Scherer, he is survived by daughter Susan Wheat, sister Mary Sissing, and one grandchild. Funeral from Santos Roggerson Chapel at 8 am to St. Felicitas Church for Requiem Mass at 9 30 am. Interment Holy Sepulchre Cemetery. A Rosary is set for 8 pm today at the funeral chapel.
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