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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Jun 27, 1959
Page
7
Chicago reports show rye leading declines while wheat and oats inch higher amid weather and crop worries. The market notes that price shifts reflect spot surveys and government data on grain stocks, with the Commodity Credit Corp lifting soybean loan defaulted sales across Midwest markets.
The stock market broke out of the doldrums this week with the first substantial advance in four weeks. Industrial shares advanced for three days with turnover about 14.77 million shares weekly, and the AP average rose to 226.20. Aluminum stocks led early gains as traders eyed a possible summer rally.
The government reported soybeans showed May crushings at their highest since January and processor inventories fell sharply. Wheat closed the week up modestly with July at 1.86 4-1 per bushel and other grains moved mixed led by corn oats and rye with varied July and new crop contracts.
Southern markets show weaker trends for hogs and slaughter cows this week with hog losses 25 to 75 cents per hundred and cows down 25 cents to 1.50 per hundred. Calves and steers sold varied by region while broiler prices held steady around 16 cents a pound. Auction activity remained robust in Florida and Georgia with record calf movements and continued slate of midweek auctions.
A brisk multi session rally followed near record Valley sales with high activity in steel and motor stocks. Traders pushed volume past three million shares as industrials and rails paced gains while pre weekend selling cooled prices.
Market notes show cotton middling at 25.58, hogs around 15 to 15.5 for No 1-2, and cattle including utility cows 18 to 19, bulls 14.5 to 18. Calves 23.5 to 31, steers 26 to 27. Bulk feeder steers 25 to 27, stockers 26 to 30. Corn and barley priced per hundredweight and per bushel ranges listed. wood pulpwood and milk prices also noted. Strong emphasis on weeklong trends and price spreads across livestock, grains, and byproduct items.
Cotton futures in New York fluctuated with near term July retreating while distant months eased on profit taking. CCC loan and repossession figures showed shrinking government holdings and weak export pace for the week ended June 19, with total season entries at 6,832,000 bales and exports around 2.50 million bales.
President Woodrow Wilson presents his Fourteen Points in a January eighth 1918 speech before Congress outlining his vision for postwar peace and the basis for the League of Nations.
Decatur students are enrolled at Birmingham Southern College for the summer quarter under way. Local students listed include Mayre Gwendolyn Dillard Malcolm Edward Edwards Jr and Joe Stimson with family addresses.
A telephone directory for Richmond, Virginia, shows 36 Loves, 15 Goods, 18 Riches, and no Hates or Bads. The piece notes the list reflects a playful, utopian tally amid ordinary city life.
Large iron ore deposits are located in eastern France while substantial bauxite reserves lie in the north, among the world’s most significant ore sources.
Stratford Rd. and Jerry Tatum, daughter of Mr. and Mrs. J. T. Tatum, 1047 Jackson St. SE, are named in a local society notice detailing a forthcoming event and family connections.
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