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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
May 02, 1966
Page
5
New York stocks opened mixed with airlines rising while rails slipped as investors stayed cautious after last week’s setback. Industrials unchanged. Dow up 0.28 to 830.36. AP 60 average down 1 to 445. Bonds largely steady.
Wall Street report from New York notes Brail bury K Thurlow of Winslow Cohn & Stetson Inc. sees blue chip declines as obvious and in danger of continuing, yet argues prices are oversold and point to an early preparation for a technical recovery.
New York observed mixed stock notes with Newton D. Zinder of E F Fitton & Co warning of warranted caution until market clarity returns. Thomson & McKinnon flags ongoing vulnerable conditions as the market trends amid recent weeks. NYSE report shows 1730 mo trades and varied gains.
Wool futures in New York opened two points higher on the UPI report of advancing prices. Traders noted a firmer tone in early trading and rising demand for wool products amid market optimism.
A humorous primer translating brokerage talk into plain meaning. It explains common phrases like excessive speculation and wise investing as everyday actions, with examples of double talk used at Wall Street luncheon tables.
The House Agriculture Committee plans revisions to Johnson's Food for Freedom program this week. The measure likely bans aid to Communist nations, includes farm adviser corps, and new incentives for birth control in hungry nations. It would authorize up to 33 billion dollars in annual shipments, shifting from surplus earmarks to generic aid. The Agriculture Department reports farm exports at a record pace, potentially reaching 6.6 billion dollars, boosted by stronger demand for grains. Food stamp enrollment is set to rise with one million more needy Americans by May and 59 areas in 17 states opening programs this month.
Los Angeles AP reports that the Federal Home Loan Bank Board approved the merger of California Federal Savings and Loan Association and First Federal Savings of Alhambra. The new entity will be named California Federal Savings and Loan Association with total resources exceeding 1.4 billion dollars.
California’s almond industry, enjoying one of its best years, may face a major surplus future. The warning comes from a report released Sunday by the California Agriculture Department.
A Tuesday ship report from the Caledonia Star catalogues vessels including the COLUMBIA VICTORY DONA NATH MONTEVIDEO and MONTEVIDEO MARY with origins in American San Pedro Philippine and Los Angeles cites owners operators and docking references. The list notes lines such as MOBIL O L Th Americany Gull and SAPPORO MARU among others with berthing at Pier 34 Pier 48 and locations including Long Beach Guaman and Stockton.
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