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Newspaper
Daily Review
Location
Hayward, California, United States of America
Date
May 16, 1966
Page
9
New York AP reports heavy selling drives stock prices to new lows for the year. Volume around 10.2 million shares, up from 8.99 million Friday. An early rally faded as dull trading continued and broad declines appeared, with Texas Instruments among declines.
New York wool futures opened lower on the Coltan Exchange with July and October bids dipping from opening prices. Grease wool also down, while a broad stock market decline hit major equities including Du Pont, General Motors, Kodak and Westinghouse. Corporate squeeze and Vietnam concerns cited as factors, with bonds largely unchanged.
New York economists view the May stock drop as potentially signaling future gains. Dow Jones blue chips closed near 983.88 after a volatile session while government observers note cooling consumer spending may ease inflation fears and avert harsher tax hikes.
New York unions and publishers face a 21 day strike as talks resume over the World Journal Tribune merger. UPI reports the guild and three unions demand seniority protections, higher severance, and argue existing contracts from older papers were abrogated by the merger.
A fragmented OCR style roster lists dividends and ship names including Yokoda U S Gulf Hawaii state Monarch Port Hueneme MORMACWAVE Ocean Carrier Gypsum Carriers Liberian Long Beach and related shipping firms such as States Marine Moore Mac and Ghewroy Shpg. with locations like Los Angeles Long Beach and Pier Washington.
Obituaries note John Delphin 82 of San Lorenzo died yesterday in a San Leandro hospital. Services will be held Wednesday at San Lorenzo Mortuary with burial at Mt Eden Cemetery Hayward. Arthur Robert Glass 84 of San Leandro died Saturday in a San Leandro hospital. Private interment at Mountain View Cemetery, Oakland. He is survived by son Allen Glass and sister Lillian Underwood of England. Glass was a native of England and longtime Alameda County resident, retired warehouseman for American Thread.
Geraldine Olsen 48 died Friday. Wife of Hother Olsen of 1148 Oakes Blvd San Leandro mother of Mrs Sue Ann Downs Oklahoma daughter of Mrs Edith Harrison Alameda sister of Mrs Joan Kinnay Alameda Mrs Margaret Gurney Pleasant Hill and George Baney Corte Madera Nebraska native spent 14 years in area. Services 3 p.m. tomorrow Santos Robinson Mortuary 160 Estudillo Ave San Leandro. Inurnment Mountain View Cemetery Oakland.
Steven Wallis 18 died Friday in Utah while traveling with John Rathburn. Funeral services will be held tomorrow at 2 p.m. at Guerrero and Sera Mortuary San Leandro, with burial private at Golden Gate National Cemetery. Survivors include parents Mr and Mrs John Wallis of San Leandro and brothers Douglas and Richard Wallis. Rev Loren Londagin to officiate.
In Long Beach the 26th UAW constitutional convention opened with about 3000 delegates. Walter P. Reuther announced that contracts with GM Ford Chrysler and American Motors will boost workers benefits and that wage gains tied to productivity are not inflationary. He praised three year contracts from 1964 for broad progress, including job opportunities for youth through shorter hours and early retirement options.
Washington reports that more than 11 percent of all food used by American civilians in 1985 was imported or brought from U S territories. The Agriculture Department notes imports remained fairly stable over a decade, averaging about 12 percent. Coffee tea and cocoa are highlighted as major imported items with fishery products mainly from Canada and Japan. Exports of farm products have risen in recent years, with a small dip in 1965.
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