Market Forecasts Reflect Conservative 1963 Outlook
AP dispatch notes Goodbody & Co of New York predicts modest gains for early 1963 after 1962 saw a 26 percent Dow drop. Money and credit remain ample with funds seeking better investments. The forecast calls for business activity to stay near current levels, offset by higher federal spending and inventory reductions.
MENTIONED IN THIS ARTICLE
Jack Lefler
AP Business News
New York
Goodbody & Co
Goodbody
A&a
New Products Highlight Safety and Tech Innovations
AP reports Stay Safe Reminder by Caravan Mfg Co links seat belt tightening to starter disarm. Raytheon introduces a long range two way radio using single sideband. Adhesive Products sells Bramasto mold liquid with quick cure for sculptors. Cornelius Co offers a wood grain beverage cooler. Lau Blower Co lists baseboard electric heaters. Rowe AC Services markets a compact background music system. Companies shown: Caravan Mfg Co, Raytheon, Adhesive Products, Cornelius Co, Laublower Co, Rowe AC Services.
MENTIONED IN THIS ARTICLE
ED Morse
AP Business News
New York
Caravan Manufacturing Co. Inc
Long Beach
Calif
Raytheon
Rowe AC Services
Chicago
Caravan Mfg. Co. Inc
Regon Ave
Raytheon Co
Lexington
Mass
Adhesive Products Corp
Boone Ave
N.Y
the Cornelius Co
Anoka
Minn
The
Laublower Co
East Washington St
Indianapolis
Ind
Row AC Services
S. Michigan Ave
Dow Jones Closing Averages Reported With Mixed Moves
New York stock summary shows closing average near 649.20 with various sectional figures for Industrials Railroads and Utilities. Trading included volume figures and futures index around 143.93 with small declines noted across sectors.
MENTIONED IN THIS ARTICLE
New York
Standard and Poor's stock index move and data
The report notes Standard and Poor's 500 stock index figures with highs and lows for the day, including changes, closing values, and trading totals. It mentions a tobacco seed’s growth potential, stating a seed can produce a plant about twenty million times its weight within roughly five months.
Keown Heads C&H Unit at Decatur Plant
J F Keown named materials control manager at Wolverine Tube Decatur Plant in the new department covering purchasing production planning and stores. He previously served as purchasing agent and foreman at the plant and has a long tenure with the company.
MENTIONED IN THIS ARTICLE
Decatur
Wolverine Tube
Calumet & Hecla, Inc
J. F. Keown
H. J. Ross
Keown
Detroit
Westminster Presbyterian Church
Auburn University
Betty Stone
Mobile
John F., Jr
Gary
14Th Ave
Grain Futures Hold Steady in Year-End Trading
Short covering by speculators and modest commercial buying kept the grain futures market steady to firm on the Board of Trade. Soybeans rose about a cent but declined later as soybean oil slipped. wheat gained 1 to 3 cents, corn and oats little changed, rye up, and soybeans near 2 cents higher. Trading ends Monday at noon. New Year’s Day holiday closings set.
MENTIONED IN THIS ARTICLE
Chicago
Board of Trade
Hog Prices Fall Amid Slow Demand in Chicago Market
Hog prices slipped another 25 to 50 cents per hundredweight as demand remained slow. 8,000 head topped at 17 dollars for 190-220 lb mixed No 1 and 2 grades, the lowest peak in nearly three months. Cattle, lambs, and other livestock followed a mixed trend with varied declines and slight gains. Blantyre in Nyasaland was named for David Livingstone’s birthplace.
MENTIONED IN THIS ARTICLE
Chicago
Traditional Year End Rally Amid Confused Wall Street Session
New York traders ended a mixed session with a traditional year end rally and turnover near four million shares. The Dow rose 87 to 651.43 as 494 stocks advanced and 509 declined amid tax loss selling and profit taking.
MENTIONED IN THIS ARTICLE
New York
Cooperatives Brace for New Federal Tax Revisions
AP report from Washington notes the 1963 tax law tightens rules for cooperatives and members, closing the distribution loophole. Patronage dividends become taxable to members, with consent required, and cash payments needed for deductions. The act also raises taxes on mutual banks and insurance firms and clarifies bad debt and underwriting rules.
MENTIONED IN THIS ARTICLE
Joe Hall Washington
Secretary of the Treasury
Douglas Dillon
Congress
Savings and Loan Associations
Mutual Savings Banks
Treasury
Mutual Fire and Casualty Insurance
Two Chemstrand Promotions Announced by G M Shipman
Loyd M. O Guin Jr is promoted to supervisor in the Dye Applications Laboratory and Herbert F Mahoney named assistant superintendent in Dyeing and Finishing Service. Both appointments take effect Jan 20. O Guin, a Georgia Tech textiles graduate, has been with Chemstrand since 1957. Mahoney, a Lowell Tech graduate, joined Chemstrand in 1955 and previously worked at Guerin Mills and M T Stevens Co. They reside in Decatur Alabama and Ramseur North Carolina respectively.
MENTIONED IN THIS ARTICLE
Loyd M. O’guin, Jr
Dye Applications Laboratory
Chemstrand Co
Applications Research and Service Department
G. M. Shipman
Shipman
Herbert F. Mahoney
O'Guin
Chemstrand
8Th Ave
Mahoney
Woburn
Mass
Guerin Mills, Inc
Ramseur
N.C
Woonsocket, R
Phone Co Taxes Paid in Three County Area
Southern Bell Telephone Co paid 111387.84 in ad valorem taxes across Morgan Limestone and Lawrence counties. Morgan totals 78661.22 with allocations to state county school districts and multiple municipalities. Lawrence and Limestone receive smaller sums including Athens and Moulton. Avery Taylor notes the company is among the largest taxpayers locally.
MENTIONED IN THIS ARTICLE
Southern Bell Telephone Co
Morgan, Limestone
Lawrence
Morgan
Limestone
Morgan County
Decatur
Falkville
Flint
Trinity
Hartselle
Lawrence County
Moulton
Athens
Limestone County
Avery Taylor
Telephone Company
Tax Changes Outline for Small Businesses and Property Gains
The text describes tax treatment for small firms and depreciation related gains. It sets tax exemptions for receipts up to 150000 dollars, scales taxation for 150000 to 500000 dollar receipts, and redefines capital gains on depreciable property sales to ordinary income rates. It notes partial gains and reduced rates with a 25 percent maximum.
Michigan students held on drug charges in Mississippi
Two Michigan State University students Benjamin J. Taylor and Ivanhoe Donaldson were arrested in Clarksdale for possessing barbiturates while driving a station wagon loaded with supplies aimed at destitute Negro farm families. The arrests occurred near a Mississippi NAACP led relief effort. multiple civil rights groups aided the Federated Organizations in Mississippi program. Henry noted supplies were gathered by Louisville students and earlier shipments came from Michigan.
MENTIONED IN THIS ARTICLE
Clarksdale
Miss
Michigan State University
Benjamin J. Taylor
Camden
N.Y
Ivanhoe Donaldson
New York
Aaron Henry
Mississippi
National Association For the Advancement of Colored People
Henry
NAACP
Federated Organizations In
Henry Said
Congress of Racial Equality
The
Southern Christian Leadership Conference
Student Non-Violent Co-ordinating Committee
Mississippi Progressive Voters League
Civil Liberties Division
Elks
Taylor
Donaldson
Louisville
Michigan
Senator Proxmire questions Cuban trade tanker charter
Senator William Proxmire urged Secretary Rusk and Secretary Freeman to justify the chartering of the Norwegian tanker Nora used in Cuban trade. He notes Nora carried tallow to the United Arab Republic under surplus disposal rules and visited Cuban ports Nuevita in July and Aguirre in September. Proxmire seeks a full report on charter terms and reasoning.
MENTIONED IN THIS ARTICLE
Washington
William Proxmire
D-Wis
Proxmire
Dean Rusk
Orville L. Freeman
Nora
United States
United Arab Republic
Nuevita
Cuba
Aguirre
Rusk
State Department
Freeman
Department
Moulton Banks Announce New Weekday Hours
New schedules take effect in Moulton with hours Monday to Wednesday and Friday 9 am to 3 pm and Saturday 9 am to 2 pm. Thursday closures remain. Banks will not close for other holidays, and non-depositors will face a ten cent per hundred charge for cashing two checks.
Elche Presents Ancient Assumption Drama Since 13th Century
A medieval religious drama is staged annually in Elche Spain near August Feast of the Assumption. The performance traces back to the 13th century and remains a local tradition highlighting regional religious history and theatrical heritage.
MENTIONED IN THIS ARTICLE
Elche
Spain
Court Rules Houston Brother Sister Rule Discriminatory
A federal appeals court reversed a district ruling and held Houston public schools brother-sister policy discriminatory, denying entry to some Negro children despite a 1960 desegregation order. The court said the rule, though not defying the order, prevents constitutional rights during desegregation efforts.
MENTIONED IN THIS ARTICLE
New Orleans
Houston
Tex
Federal District Court
5Th U.S. Circuit Court of Appeals
District Court
Appeals Court
Federal
Strike Halts Vital Cargo at New Orleans Docks
In New Orleans the movement of vital military cargoes stalled as longshoremen walked out. The Army said a resolution was near as pilots delayed ships awaiting loading amid union friction and race-segregated locals. Rain later delayed loading further.
MENTIONED IN THIS ARTICLE
New Orleans
Army
Army Gulf Transportation Terminal Command
Crescent River Port — Pilots Association
Richard McNeely
Pilots Association
Parole Granted to Cullman Man
Daniel B. Morgan of Cullman County received parole this week after a 1962 conviction for manufacturing and possessing illegal whisky. The Pardon-Parole Board released four individuals in the latest parole action.
MENTIONED IN THIS ARTICLE
Cullman
Daniel B. Morgan
Cullman County
Poppy Plant Yields Opium Additives Mentioned
The poppy plant yields not only opium but also the drugs codeine morphine and the muscle relaxing papaverine.
Tricks for a well behaved family dog
Reader Linda Rader asks about a Toy Manchester that jumps on backs during play. The advice urges training for appropriate times to show off, praising on cue and stopping the act when it occurs at wrong moments, to avoid turning a pet into a nuisance. Dr Moller offers pet care books for best questions.
MENTIONED IN THIS ARTICLE
Manchester
Linda Rader
Columbus
Ohio
Birth Control Study Released by U S Health Agencies
Washington AP A 127 page medical report on birth control research titled A Survey of Research in Reproduction Related to Birth and Population Control was released by the Welfare Department. The study aims to catalog existing scientific information for physicians and researchers, not to advocate or condemn birth control.
MENTIONED IN THIS ARTICLE
W. Joynes Macfarlan
Luther L. Terry
U.S
Terry
White House
Sogpaiblich
Medicine and Allied Sciences
Surgeon General's Office
Also Mentioned on This Page
Cornelius Co
Anoka, Minn
Lau Blower Co
Dow Jones
Standard and Poor’s Stock Index
Standard and Poor
Aftel
Dillehay
Dial
Bill Clements
6Th Ave
S.E
Keown Heads
C&h Unit
Blantyre
Nyasaland
David Livingstone
Kennedy
Associated Press
American Stock Exchange
Davidson Plumbing CO
Shermon St
O’guin
Phone Co
Moulton Banks
Qretro
LPGAS
Rule
Davidson Coal & Fe
Hotty St. NE
Od Co
HERTZ
K. E
Chevrolet
GMC
Decatur Transit, Inc
First Ave. N.E
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