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Newspaper
Decatur Daily
Location
Decatur, Alabama, United States of America
Date
Sep 01, 1963
Page
3
New York Cotton Exchange prices drifted in a tight range and ended the week down about 10 cents to 1.05 from the prior week. Activity centered on switching and straddling as demand remained limited by uncertainty over possible new cotton support legislation in Congress.
In Chicago last week grain futures moved narrowly with small gains more common than losses as support grew late. Wheat fell on Friday after technical buying but ended down over two cents on the September contract while other grains and soybeans rose amid variable weather and questions about domestic crop yields.
Exports for the week ending August 27 are estimated at 29000 bales, up from 25000 the prior week and 12000 a year ago. For the season to date exports total 108000 bales versus 115000 a year earlier.
Air Force says debris in Atlantic near Bermuda is likely aircraft wreckage from two KC135 jet tankers missing with 11 crew. Coast Guard found no wreckage at the scene while surface ships salvage from the main area about 135 miles southwest of Bermuda. Officials caution wreckage identification remains uncertain as search continues.
President Kennedy calls on business leaders to support immediate tax reduction and explains aims to boost exports, curb inflation, improve growth, and expand equal opportunity while warning against price increases and stressing collaboration between government and business. The piece notes tradeoffs and market reactions in weekly commodity markets.
White House aides rebut Sen. Byrd who questioned the need for planes yachts and helicopters for President Kennedy. Officials itemize aircraft including 10 helicopters two new jets eight million dollar Fanjet and three Boeing 707s plus a DC6B and Navy yachts and racing yawl Manitou with fleet names updated from Eisenhower era.
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