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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Dec 23, 1956
Page
5
The Associated Press average of 60 stocks rose at least 10 cents for the week to 180.20 after a weekend rally. Traders had hesitated before the four day Christmas holiday, but a late surge in shopping momentum pushed shares higher despite global uncertainty.
The piece notes ongoing use of losses for income tax gains and a broad switch from one stock to another as investors realize losses in some holdings to fund purchases of others. The pattern shows strategic tax planning influencing portfolio reallocation amid market moves.
Sen. Sparkman of Alabama predicts the United Nations police force in Egypt will become the nucleus of a permanent small mobile unit. He may ask Congress to back this course if the UN does not act soon to establish a permanent police force to aid world peace. The unit would be smaller than an army.
Ardmore plans first water bill mailings for January 10 for customers on the new city system. Bills payable to Bank of Ardmore between the 10th and 15th. system turnover occurred December 7 with most residents now on city water.
Stocks looked attractive for a rise in 1957 as broad activity returned to Wall Street. Trading exceeded 1,200 issues as steels and industrials led a renewed rally aided by good corporate reports and improving odds of higher steel prices. The mood improved as news from abroad and a Fed pause supported morale.
Report notes 461 million acres of commercial forest across the United States. It highlights the scale of timberland, distribution by regions, and potential uses for industry and conservation.
Fifty members of Central Methodist Church held a Christmas retreat at Joe Wheeler State Park. They planned, cooked a turkey and ham dinner, and served breakfast with adult counselors guiding but youth running the program. Eddie Self led as chief counselor with Rev. W W Lovett and others assisting.
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